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People's United Financial Inc. Message Board

  • johnnyacura5 johnnyacura5 Jan 11, 2006 12:20 PM Flag

    People's goings on

    http://www.peoples.com/about/peoples/0,8397,14098,00.html

    Here is a link to the people's website that explains everything.

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    • shoreline_modular,

      Thanks,
      Kid

    • It doesn't take much to figure New Alliance will be flipped as soon as the restriction period is up. Rumor is they are already talking to suitors and their commercial group is fast developing a reputation of booking any loan, at any price, on any terms, to build a bigger balance sheet. If their asset quality holds, the bidding could be interesting.

    • skeeter..,

      >other banks like Webster, New Alliance, and Banknorth) move aggressively into new markets)<

      Any thoughts on New Alliance? Was in on the PBCT IPO, have traded PBCT in the past year, bought on weakness, no longer in PBCT. I did receive a good check from a class action suit against PBCT for misrepresenting it's real financial condition for the IPO.

      Regards,
      Kid

    • I am a former Bridgeport employee as well. Staying in Bridgeport was not Carson's first choice. He was a Hartford guy and wanted to move the bank there. There was too much community pressure for him to do so. The stock has obviously done well under both CEOs (although in my department, we always felt that Mr. Biggs was the one making the strategic calls during most of Carson's tenure). Margins are tougher today and market is more competitive, I think Klein's job is tougher. I would also say that both of them, and People's in general, do more community work than any other bank I have worked for. My two cents. Take care and cash the dividends...

    • I hope that you do better DD than you do reading YMBs.

      I never said that Klein was an angel, only that raising Carson to the status of semi-deity was wrong. Klein is merely continuing in the path started by Carson when the bank went public. That includes layoffs, sold assets, budget cutbacks, etc., etc.

    • Your a total rockhead, either you don't know how to read or you are a pissed off x employee and you can't see what these posts are saying, instead of getting a some info. from some folks who worked there, in the recent past, you bitch about something that happened almost two decades ago.

      Read the posts for what they have to offer and stop whining like a child.

      I am done with you.

    • Here is the difference between Klein and Carson:
      -------------------------------------------------
      Here is the real difference between Klein and Carson - nothing.

      They are both CEOs who make decisions that make people unhappy. Go find some old-timers who were there when Carson was there and see how many liked him then.

    • I used to work at 850 Main seeing the change in leadership, strategy and culture take a downward spin after Carson left.
      -------------------------------------------------
      Get a clue.

      The downward spin started when the bank went public. All the golden era stuff that you people fantasize about was left over from when it was a Mutual Savings Bank, and it started to erode the day that management had to answer to shareholders.

    • Second, go pound yourself, I was there and I saw the pink slips come, it was in 2002, mass layoffs across the board, what happened in the early ninties I don't know. But the point made was that a lot of other banks failed and are gone, Peoples didn't, so they, or Carson, must have done something right.
      -------------------------------------------------
      So you weren't there in the 1990s when Carson was CEO. LEt me tell you what happened under Carson's leadership.

      - He brought in commercial and let them run wild. They are what almost killed the bank, and they wouldn't have been there if it wasn;t for Carson's strategic vision.

      Carson was as cold-hearted as they come. How a CEO can show up on the front page of Parade listing his salary as $400,000 when he is laying people off left and right, and the Feds are within an inch of shutting the doors?

      Once again - you want to solve problems at PBCT, focus on what is happening now, not some mythological Golden Age under Carson.

    • I used to work at 850 Main seeing the change in leadership, strategy and culture take a downward spin after Carson left. A lot of businesses took the same route in the 1990's and have not recovered. Loss of vision and passion for the customer and employee. Now it's all about the shareholder (lucky us) and not about employees. Hopefully the stock will do well as larger financial organizations review PB's market share in Fairfield County for takeover. It's all about the stock price and dividends as I am now an "outsider", and much more content! See you all at the Annual Meeting! Former employees should have their own seating area at the meeting. By the way, I'm one of those 90,000 whose id got "lost" last week.

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