Good question. Where will the earnings come from??
Credit card - Nope sold it Residential mortgages - Gone and all servicing sold for good measure. Consumer Loans - Don't do them Commercial loans - Not in the slow growth New England market CHZ acquisition economies - Nope, Klein is telling them "no consolidation" so they will keep the 8 separate banks 4% T-bills - Yes so you can enjoy your 4% Return on Investment
And now he is going to buy back the shares he sold to you for $20 for a 30% discount. Nice!
The only winners here reside in the Ivory Tower of Bridgeport.
excellent points.....these questions that you point out need to be answered to regain the confidence of management...... oh buy the way, were is management still spending there bonus and stock options........no word yet......is any body minding the business?????????(news release)