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TierOne Corp. Message Board

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  • eagledragon1 eagledragon1 Jun 19, 2008 4:39 PM Flag

    Divy Declared!

    The latest declared cash dividend reflects a reduction from the previous $0.08 per share quarterly level paid to TierOne shareholders.

    “Our board recognizes that quarterly dividends are important to our shareholders,” said Gilbert G. Lundstrom, chairman and chief executive officer. “Yet in today’s very volatile economic and credit environment, this reduction is an appropriate step to preserve our capital and build our reserves through these challenging times.”


    Good news.... I can't help but read it as "We are still solvent, but we sure aren't doing good."

    Now someone tell me why they couldn't have announced this around the normal time and saved the extra slaughter on the sp in the meantime?

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    • "Good news.... I can't help but read it as "We are still solvent, but we sure aren't doing good."

      Now someone tell me why they couldn't have announced this around the normal time and saved the extra slaughter on the sp in the meantime?"
      ------
      They wanted to make sure that if they only cut if by half that they would still have enough money for the annual BOD/corp officers golf and "party" outing away from home.

      Seriously, I can't figure out how any management who has screwed up this royally, would be left with a job. The PR mentions the outside financial environment as if the management had nothing to do with the mess the company is in. Gilbert must have had something on each of the what was probably hand picked board members. Otherwise he and other managers would be long gone. I can envision them all kneeling in a circle with Gilbert in the center with each board member bowing and performing his oath of loyalty to the great one.

 

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