Sun, Dec 28, 2014, 5:30 AM EST - U.S. Markets closed

Recent

% | $
Quotes you view appear here for quick access.

People's United Financial Inc. Message Board

  • wiseguy411ct wiseguy411ct Oct 22, 2000 2:19 AM Flag

    The Real 411 about Peoples

    Razor, I think you need to get out more and find
    something in your life to do. Maybe putting people down
    makes you feel better but there really are better ways
    to live life.
    I've followed this stock for the
    past four years, I live 10 minutes away from the
    corporate headquarters. The stock has steadily gone up
    through these years, and had a 3 for 2 stock split. The
    dividends are continually rising, and investors are pleased
    with this. People's is the 17th largest issuer of
    credit cards, and if you look at their financials, you
    will see that their bread and butter is not the credit
    cards, but on loans. They acquired R.C. Knox over a year
    ago, and have continued to grow in size. Over the past
    year, they have put approx. 30 little branches inside
    the "Stop & Shop" grocery store chain. There is talk
    about expanding outside of Connecticut, into other New
    England states, and they already have a credit card
    division in the U.K. which helps them hedge profits.
    Before you run your mouth, you should have a clue what
    you are talking about. If you're credit card rate
    jumped to 27.99% than transfer your balance. People's is
    in business to make money, and by raising the APR on
    some credit cards accounts, they hope that those
    people who are likely to default later on their debts
    will transfer right away. Charging off a credit card
    account is a way to lose lots of money, and this rate
    increase will help diminish the number of charged off
    accounts. Get a hobby Razor, get a life.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • I can't argue with too much of what you just
      posted.

      I probably should have used "indignant outrage"
      instead of "blind rage": The latter suggesting an
      emotional instability.

      Mr. Vitelli can post my vital
      statistics to the `Net any time he wants to - if he can find
      them. I was very surprised that someone in a highly
      visible position, engaged in conduct that was likely to
      enrage some folks, would maintain a published address
      and telephone listing. VERY lax security. But laxity
      (aka incompetence) seems to be a watchword at
      PBCT.

      Vitelli and PBCT by all means could sue me - again, if
      their legal department could identify me. I suppose
      they could pull a CreditSuisse and try to get info
      from Yahoo! (not very likely to be successful, cuz I
      HAVE exercised appropriate security precautions). They
      could sue all the other naysayers, grousers, and
      whiners on this board too. But, that type of action is
      HIGHLY unlikely.

      Why ?

      Because they KNOW
      that their actions, re. the credit card issue, have
      been unethical, in violation of the terms of the
      customer contract, and maybe also illegal. They're not
      going to want to spotlight this issue, especially cuz
      they apparently have no legal defense for their
      actions.

      Yes, we'll all just have to wait and see how this
      plays out in the courts. Notice the plural: I suspect
      there will be multiple actions against
      them.

      P.S. My opinion: PBCT should come clean and admit that
      serious mistakes were made, including some that resulted
      in breach of contract and violation of certain
      consumer protection laws. Then, Mr. Vitelli, Morriss, and
      Klein should gracefully resign, along with the Board of
      Directors that allowed this kind of conduct to
      occur.

      But, I doubt that that will happen - just not enough
      integrity in Bridgeport these days.

    • "To the best of my recollection, I did NOT post
      Mr. Vitelli's home address. Someone else put his
      address and phone number up, and I merely repeated the
      telephone number later (I think). But, what's the big
      deal?"

      I apologize if I implied that you had posted his
      information; you did not. However, I feel that posting
      personal information about people on the Internet in this
      day and age is irresponsible at best.
      "You have
      consistently said that credit card holders that don't like the
      new rate terms are free to pay-off their accounts and
      go elsewhere (instead of fighting with the bank).
      According to this same logic, Mr. Vitelli is free to resign
      his position with PBCT, and move, if he doesn't like
      the fallout from his inethical/incompetent
      conduct."

      I agree. Both Mr. Vitelli and the agrieved credit
      card holders are free to move. However, by your logic:
      1)Since you are one of those calling for his scalp, and
      2)You have posted at least two unsubstantiated rumors
      about PBCT on this board (out of state cases, and the
      news reporter), therefore 3) You are one of the causes
      of his problems and therefore he is entitled to post
      your address on the Internet, berate you endlessly,
      and sue you for 7 figures.

      "Mr. Vitelli should
      have no problem accepting the reality that
      inappropriate actions come with consequences: Consequences that
      he may not like."

      Once again I agree. Those
      consequences are the one that will be determined in the suit
      by a court, which will have a higher standard of
      proof than anonymous messages on a Yahoo
      board.

      "P.S., your Revolutionary War analogy. No, it wasn't
      "British credit card rates", but it was something very
      close - an unfairly levied tax. If these folks hadn't
      become outraged at the unfairness and unjustness of the
      situation, you would still be curtseying to the Queen
      today."

      If you cannot see the difference between
      a tax levied by a monarchy (aka monopoly backed by
      the military) and credit cards that are issued in a
      very competitive marketplace (especially if your
      credit record is as squeeky clean as all of this people
      profess), then you should stay away from metaphors (or
      analogies, I forget which). You also read a little history,
      because I am far from a History major, but I do know that
      there are those that argue that the taxes were
      justified because of the cost of maintaining the Colonies,
      that that it was used by those in the Colonies who
      wanted independence. And before you start, I am glad
      that it happened, its just that the history is
      sometimes not as clear-cut as the historians of the winning
      side would have you believe. Just as this issue may or
      may not be as clear-cut if and when PBCT has its day
      in court.

      "Sometimes a little "blind rage" is
      a poistive and useful thing."

      This is just
      plain stupid. If you want to go into blind rages, at
      least get a cause that is a little more meaningful than
      raising credit card rates.
      Its also the reason that
      personal information, even for public personages, should
      not be posted on the Internet.

    • To the best of my recollection, I did NOT post
      Mr. Vitelli's home address. Someone else put his
      address and phone number up, and I merely repeated the
      telephone number later (I think). But, what's the big deal?


      You have consistently said that credit card holders
      that don't like the new rate terms are free to pay-off
      their accounts and go elsewhere (instead of fighting
      with the bank). According to this same logic, Mr.
      Vitelli is free to resign his position with PBCT, and
      move, if he doesn't like the fallout from his
      unethical/incompetent conduct.

      Mr. Vitelli should have no
      problem accepting the reality that inappropriate actions
      come with consequences: Consequences that he may not
      like.

      P.S., your Revolutionary War analogy. No, it wasn't
      "British credit card rates", but it was something very
      close - an unfairly levied tax. If these folks hadn't
      become outraged at the unfairness and unjustness of the
      situation, you would still be curtseying to the Queen today.
      Sometimes a little "blind rage" is a poistive and useful
      thing.

    • "You really think people should just roll over
      and play dead when some corporate entity tells them
      to, don't you?"

      Actually, no. However, I tend
      to reserve that action for important issues. I do
      not consider rate increases for credit cards to be
      all that important.

      "According to your
      philosphy, the U.S. would still be a colony of Great
      Britain."

      Since one of the major underlying causes of the
      Revolution was the increase in credit card rates that the
      British charged? Do you view yourself as Paul Revere or
      Thomas Paine? Is this a New Millenium version of the
      Minute Men?

      "This is probably just the tip of the
      'berg. But, just between these 'Net postings, there are
      enough people to initiate a CLASS ACTION against
      People's Bank CT."

      While you are tilting at
      financial windmills, maybe you will also think about the
      class action system that pays attorneys outrageous sums
      of money while providing minimal benefits to the
      actual victims. Just a thought in case you have some
      time to do some meaningful work (if you already are, I
      commend you for it).

      "BTW: I had a nice discussion
      about PBCT with someone from one of the major national
      news outlets - don't be surprised if you see an
      investigative report on PBCT (I doubt it would be positive) on
      one of the TV news magazine shows in the near future
      - they're interested!"

      One of the major
      issues that I think irritates me the most about you and
      your cohorts is the use of anonymous rumors and
      comments. I wouldn't be surpirsed if PBCT was very sloppy
      in the way that it handled y_chromosome's account;
      credit card was a rogue operation when I was at PBCT and
      I don't think that Mark Vitelli is the type of
      person who would get its act in line (especially in
      compliance).

      Whatever the merits of y_chromosome's case, it should be
      played out in a court of law, not posted anonymously on
      the Web. You are correct about the role of consumer
      laws; in their absence, banks (and corporations in
      general) would go crazy. But the place for them to be
      adjudicated is in court, where PBCT is entitled to a defense
      if it can, and if it cannot, where legal penalties
      can be meted out.

      What happened to jerryfl's
      dire predictions of legal action in FL? Where are the
      state cases that your contact cites? Give us the name
      of the news organization so that we can monitor it.
      All we hear from you are vague threats, lots of
      rumors, hearsay evidnce posted from behind the covering
      veil of the Web. The only concrete, tangible fact that
      you have posted that I could verify if I wanted to
      (and I defincately don't want to) is Mark Vitelli's
      home address; and I find it reprehensible in this day
      and age that some one would do that.

      In short,
      you can continue to rant and rave all you want; if
      you want to post, then I can reply. Between us, we
      can probably guarentee that all reasonable discussion
      of substantive issues regrading PBCT will cease
      (which is probably what you wanted anyway).

      P. S.
      If this is your idea of fun, then you really do need
      to get some new hobbies. This note is long because I
      am watching the World Series and its tied. What's
      your real reason?

    • No offense taken. I know the problem was a result of the blinder than a bat, Proverbs. I thought he was just blind to the truth.

      lol

    • flovvorn !

    • You really think people should just roll over and
      play dead when some corporate entity tells them to,
      don't you?

      According to your philosphy, the U.S.
      would still be a colony of Great Britain.

      No,
      when a serious breach of appropriate conduct, or law,
      is uncovered - as it appears to have been in this
      case - people SHOULD stand up and say NO!

      Mssrs
      Klein, Morriss, and Vitelli, and their like in other
      banks, aren't going to stop conducting themselves
      improperly/illegally until they get a really swift kick in the
      a**.

      The whole reason behind the consumer laws that we
      have, and the penalties that they allow to be
      extracted, is to (a) dissuade organizations from engaging in
      improper conduct, (b) penalize those that do, and, (c)
      scare other organizations from trying the same
      crap.

      By my count, we've seen some 8 - 10 "unhappy
      campers" on this board. If you go to epinions.com, there
      are some 35 - 40 negative opinions about PBCT and
      their recent conduct between the "bank" and "credit
      card" categories. And, there are the somewhat
      unreliable grievancebox.com "bitches".

      This is
      probably just the tip of the 'berg. But, just between
      these 'Net postings, there are enough people to
      initiate a CLASS ACTION against People's Bank CT.

      I
      think you're going to see a lot of money flowing out of
      this bank in the next 12 - 36 months, just to deal
      with the illegal/unethical credit card rate increases
      that apparently have occurred (legal expenses;
      settlements; judgements).

      BTW: I had a nice discussion
      about PBCT with someone from one of the major national
      news outlets - don't be surprised if you see an
      investigative report on PBCT (I doubt it would be positive) on
      one of the TV news magazine shows in the near future
      - they're interested !

      Meantime: floworn,
      ychromosome, blacklawranger (msg 409), evildwarf (msg 400),
      spammerssuk (msg 401), gary mcwhorter (msg 534), wild wooly
      2000 (msg 467), Master Rexxx (msg 571), and the other
      unhappy campers (aka "whiners" according to Proverbs) -
      have at 'em; give these PBCT a**holes hell, and of
      course, Good Luck !

      {Hey Proverbs and PBCT: notice
      that SOMEONE is tracking and recording all these
      negative messages: wanna guess where they're going to ?}

    • Yeah, I see there is a connection between Gore
      and PBCT..nothing but bullshit coming out of both of
      them.

      Maybe your little pathetic excuse of a
      bank should have stayed within Connecticut, since it
      has such a fine reputation in Connecticut and is the
      laughing stock of how not to run a bank, elsewhere. It
      obviously cannot play with the big boys, as long as these
      lackeys are running this ship.

      Maybe it is ok to
      break laws in Connecticut and just because Connecticut
      has such liberal banking laws these bank execs seem
      to think they can do whatever the hell they can,
      even if it means breaking the law.

      I seem to
      remember Al Gore breaking some campaign contributions
      regulations along the way, as well.

      Yes siree,
      definitely a connection...and that is why both these
      liars/losers need to be held accountable for their actions.


      Being from Texas doesn't have a damn thing to do with
      accountability. The law is the law doesn't matter if it is white
      collar or a drug dealer.

      As for ego trips, it
      seems to me from the quotes from one of the stooges
      (Vitelli), he seems to be the one with the ego issues.


      I also believe this to be an excellant forum to
      comment on issues such as these, since Vitelli is such a
      liar about not disclosing lawsuits...these comments
      about lawsuits need to be brought into a financial
      bulletin board.

      As an investor, I would damn sure
      want to know about any lawsuits such as these, and
      what other kinds of actions they are taking.


      Sounds to me like these Stooges are withholding
      information an investor would need in making sound financial
      decisions, inspite of how much they got you snowed.

    • It is YOU now that are twisting
      things.

      Wiseguy411ct indicated in a recent post that a driving force
      behind this bank's actions had to do with their
      obligation to satisfy the shareholders.

      I was merely
      (and possibly feebly - cuz I wasn't inclined to go
      back and carefully research the facts) trying to point
      out to him that the interests of the secondary
      shareholders are NOT a high priority with this bank.

      I
      don't really care how they are set up, and, if they
      really do contribute positively to the commumity, good
      for them! (but, their recent actions towards
      customers is REALLY out of line).

    • "And I will say to you, mind your own business.
      Sorry, you own stock in a worthless- ass company. Your
      loss; not mine."

      If you don't want to have
      someone comment on your business, then maybe you
      shouldn't post it on a public forum.

      "Banks need to
      be held accountable for their actions, particularly
      banks who have the attitude of the Three
      Stooges."

      What is it with people from Texas wanting to hold
      everybody accountable these days? OK, then get them where
      it hurts, take your business elsewhere. If all of
      these repricing stories are true, then somewhere in the
      last few months, PBCT decided to change the
      characteristics of its credit-card portfolio. The real question
      for investors is why and for what reason?

      If
      they no longer want your business, then go somewhere
      else. How much ego can you have tied up in a credit
      card anyway?

    • View More Messages
 
PBCT
15.25+0.02(+0.13%)Dec 26 4:00 PMEST

Trending Tickers

i
Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.
TherapeuticsMD, Inc.
AMEXFri, Dec 26, 2014 4:01 PM EST
Virgin America Inc.
NASDAQFri, Dec 26, 2014 4:00 PM EST