Q: Why is the CEO getting that huge severance payment like he's terminated if he's going to continue working for SBS at $250,000 per year ... that doesn't sound like unemployment?
A: Shhhh ... we would rather not highlight that.
More Q & A from the proxy you might have missed:
Q. So how are those synergies going to help the HBKS shareholders that were already cashed out?
A. Our shareholders are morons ... they don't understand anyway.
"Fairness" is not an appraisal ... it's not the highest or best price ... it's not even defined. So what is "fairness"? It's like the lowest price they can say without laughing hysterically!
Wait ... what's that giggling sound?
Vote "no" on the low ball buyout ... get a lot more for your HBKS stock later!
Sell at low price right before small bank stocks about to rocket higher ... makes no sense!
Margins and profits will increase!
Bank stocks already worth a lot more ... vote "no" on the low-ball buyout!
And if you get a call from Regan & Associates, you say ... "I just want to make sure before I hang up on you; did you say Regan or Reagan?"
NORFOLK, Va., July 7, 2011 (GLOBE NEWSWIRE) -- Commonwealth Bankshares, Inc. (Nasdaq:CWBS) announced today that it is expediting efforts to increase Bank of the Commonwealth's (the "Bank") equity position just as the Board of Governors of the Federal Reserve System (the "Board of Governors") and the Bank executed a Prompt Corrective Action Directive (the "Directive"), effective July 1, 2011, requiring the Bank return to adequate levels of capital in 30 days, or such additional time as the Board of Governors may permit.
Commonwealth has diligently been working with FIG Partners LLC ...."
Gee, that didn't work out well. Fortunately the HBKS shareholders are advised by Pres. Reagan!
$14.60 × 1.57 = $22.922
That's well within the range of potential values set out in the proxy statement. $21.05 won't get it done!
HBKS deal looks like 1.44 book. If Southern can't pay at least 1.5 book, tell them to forget it ... vote "no"!
That's the problem with the valuation models in the proxy ... they don't take into account the intangible factors.
$21.05 was the price with Hillary Clinton as President and Oceana closed down.
It's a whole new ballgame now ... Russian jet shot down over Syria ... practice dogfights over Hilltop ... just the one HBKS branch at Lynnhaven is worth $21.05 ... all by itself!
Now a greater sense of shareholder rights and the need for shareholders to look out for themselves.
Watch the HBKS shareholders think for themselves and vote "no" on the low-ball buyout deal!
Vote "no" on deal ... you will feel a lot younger!
Wow .. all the other old people are in Forest Lawn cemetery ... while the elderly HBKS shareholders vote the low-ball deal down and live on!