If you still feel you are getting ripped off by mgt then withhold your votes in March or April, 2016 for the BOD. hOPE SOME OTHER GROUP OR FUND WILL OFFER AN ALTERNATIVE SLATE. IF NOT JUST do not vote VOTE FOR PRESENT BOD
All the good ol boys will be out this weekend at the golf tournament The Wyndham in Greensboro . I am sure they will be thinking of us all while they are in the hospitality tent that we have paid for them . Ever wonder how much money it cost us stock holders for King and the boys to have a good time at The Wyndham ? My guess is a couple million dollars. I bet we even bought Kelly King a private parking spot as well for his car so he and his family have little walking from their car to the hospitality tent . Al the top boys and girls at the corporate office will be a a party on our nickel .
This is true, but you just need to really appreciate all the money and benefits that Allison, King, the top executives and BOD have received since then.
Best Way to stop this is to withhold all votes in spring for BOD and hope some activist group comes out with slate to oppose BOD. Support new regulations SEC is considering about BOD accountability. When trial Lawyers sue BOD of directors often their is merit due to BOD being nothing more than rubber stamp to Management!
Seems now that there is no need for DD before a merger. Merge Collect bonus whoops, bad merger merge with another collect bonus, WHOOPS! lather rinse repeat...
Big article in the local paper about the following.BBT is buying Susquehanna Bancshares and now it comes out that the top five executives of BBT including King are in line to receive $2.6 milliion in extra bonuses in addition to their other pay and benefits.The bonus is for "merger completion" payouts. So they get paid to do the deal and then get extra bonuses for doing their jobs and integrating the company onto BBT network. My understanding is this is not normal and highly unusual way of doing business. What next does BBT's Board of Directors give an additional bonus for the executives that show up for work on time. The merger integration would normally be considered a part of the executives normal job function.
The stock has increased about $3 since the 1st quarter financials so some increase was already baked in. Once the Fed starts to raise the Fed Funds & Discount rate the interest rate margin will start to widen and profits will rise as loans tied to the prime rate will reset immediately but the deposit rates take a while to respond as CD's mature. Plus banks usually do not raise the deposit rates commensurate with loan rates. I thought the report was good.