comments welcome....management over paying themselves with salary
I cannot agree with you more. I have not posted in over a year out of frustration, but have been a major critic of management ever since Mr. Klien died and Phillip Sharringham replaced him, we are still paying for that severance package. Why are the current board members not purchasing more PBCT stock?? Why have they instead received (given themselves) more stock and benefits?? why did they spend over 10 million dollars on remodeling the Executive floor alone, Gourmet Kitchen and Chef included. and another 8 plus million on the 1st floor and they still are not nearly done. Seems to me that our fiscally conservative bank is only that way in the market place and toward it's shareholders and the same does not hold true for the way Sr. Management and the Board treat themselves. Been a shareholder since the late 80's IPO, I love the dividend but I realistically expected a lot more from the stock. I believe that the fault lies squarely on the boards shoulders for mismanagement, bad hiring decisions, and cronyism. Mr. Carlson and Mr. Klien steadily brought this bank forward in the industry all the while increasing shareholder value. Remember PBCT did not need or want any bailout funds ever, we were that well positioned and balanced. What has happened since?? MUST BE MANAGEMENT DECISIONS!!!!! Not selling and still reinvesting the divi's, hoping for a Sr. management epiphany, or a corporate buy out.
I wasn't aware of all this spending. until your comments it surprises me that there very few stockholders posting. funds are enjoying the dividend and are laying back as they know
this is a excellent return and solid investment with very little down side. I am surprised the
funds are not pushing for a sale as the stock is worth more than the book value or pushing
management about taking big STOCK OPTIONS. with new management the company
could do much better. there are plenty of excellent ceo's that could turn this mess around.