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People's United Financial Inc. Message Board

  • jcgepc44 jcgepc44 Dec 11, 2008 4:06 PM Flag

    Insiders are letting us down!

    I am very unhappy with the management and directors who are currently selling PBCT. Our company is under attack from short sellers and the financial community is speculating about the performance of commercial loans in a distressed economy. Shame on you guys--how about a little support out here--demonstrate some leadership and support the stock. How about taking stock instead of cash for directors fees? Announce another stock repurchase program. Increase the dividend. Do something besides sell.

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    • PBCT just got some news, and it isn't that good if you read what isn't said...

      "At the same time, Moody's changed the outlook on the company to stable from positive. Moody's said the change to a stable outlook was driven by the company's comparatively weak core profitability, a deteriorating economic environment..."

      PBCT is no longer a "buy" but stable and with eroding profitability and the outside chance of purchasing another financial institution, there is a great chance that any and all positive outlook could be out the window in a very short. If they purchase and investments continue to go south - who will buy PBCT if it comes to that? And what will they give then that will even closely resemble its worth now?

      Leadership needs to be more aggressive in its management style, purchase not "blow" and manage, not "blow" the commanding stature it now possesses.

    • HA! HA! HA! You have go to be kidding me ?????
      Prepare to be pounded by hedge funds LMFAO !!!!!!
      Since day one of the IPO at about $22 the board has been dishing out swill and profiting off the back of the little guy.
      Sell, short or move on, nothing to see here. ROTFL !!!!

      • 1 Reply to sonnyatthecauseway
      • Seriously folks, if no one is fired over the drop in pricing of the stock...be prepared for a very steep, long and sustained price drop. Of course, if that doesn't happen - the conventional wisdom is that the execs and board can feed at the trough of the $2.5b until the company is bought (at a less than attractive price because of incompetence). Either a move needs to be made NOW or even the dividends will be paid out of the reserve.

        Lastly, it does make me wonder whether or not the senior management team is envious of the others who have bailout money to squander and have decided to do the same, except for the fact that these funds aren't going to be replaced by Bernanke.

    • Lets not abandon ship yet. Balance sheet looks fairly solid even with all the mentioned exec. excesses so far. Should it be doing better? Yes without a doubt. I may not like the direction that Sherringham and company are steering us right now but the business fundimentals are still mainly based on the models started by the former regime some who are still around. I plan on reinvesting my dividends as always and will bank on the fact that I am not alone in my opinions and that if the excesses continue and the stock still flounders that come the annual shareholders meeting we can make our displeasure known thru our votes of no confidence and for change. I still feel that the bank is solid and when the April/May 2010 deadline comes PBCT will be a plum, either on it's own tree or picked by someone else. Let's just hope it a big, juicy one.

    • PBCT won't have $2.5b in a short period of time. Paying of dividends, investments NOT paying as handsomely as they have in the past, execs "wild" spending and other corporate/branch expenses are whittling away at that nest egg. Along with the sell-off of shares and as you say, the perception that PBCT is being "raped" by those very same execs spells looming disaster on the horizon for shareholders.

      For the long haul, I think I'll move back into Treasury (savings) bonds.

    • Good points stoner. Thanks.

    • That is what happens when new management takes over. After John K died and Sherringham took over - out with the old and in with the new. These new people do not have the heart or stake with Peoples. They are just there for the golden handshakes and the perts. Oh speaking of perks - wow the spending is out of control.

    • It is perfectly fine for them to sell PBCT stock. Or would you prefer they have substantially all of their net worths tied up in the stock of the company they work for?

      I know a few execs from Bear/Lehman etc. who would probably change a similar decision if they could.

      By the way, now that PBCT is part of the S&P, exec stock transactions don't mean diddly and the mo is driven by overall market sentiment on the index...which has been pretty negative lately.

      • 1 Reply to ralfmalf9988
      • They DO mean diddly. I agree with jog. It's downright shameful that they keep on selling and selling. If they don't have confidence enough in their abilities as managers of the company that they are comfortable with all of their net worth(and they don't even have that) then they should go work somewhere else. We as shareholders deserve to have motivated management with their butts on the line. I for one have lost confidence and not only sold my shares but every time it gets above $ 18, I get short some and cover in the high $16's. If they hadn't been abandoning ship I would probably be a long buyer in the high $ 16's and a seller at $ 18 and above.

 
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