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SunTrust Banks, Inc. Message Board

  • mozell_pill mozell_pill Sep 24, 2002 4:14 PM Flag

    STI BOD

    Keep lying Mr. Fraud.

    Here is a list of the BOD of STI

    Phillip Humann, John Speigel, James Wells, Hyatt Brown, Alston Correll, Douglas Daft, A.W. Dahlberg, Patricia Frist, David Hughes, Douglas Ivester, Summerfield Johnston, Gilmer Minor, Larry Prince, James B. Williams, Karen Williams.

    Now, I dont see McClelland among the list.

    Mr. Fraud, johnjay made a fool out of you and proved your intentions. You need to be reported and I too will do the honors. I will be damned if someone is going to come on this board and make statements like you have made about a fine institution and not be reported. You need to take up your concerns about Mr. McClelland at the UNM board.

    I suspect Mr. McClelland would probably have a good libel suit against you.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • No one "jumped" you because you predicted the stock would hit $55. We jumped you because you brought your silly "fight" with Hugh McClelland on to this board. Instead of being a MAN and writing to McClelland you decided to hide here and post your misgivings.

      First of all you and your clan did jump me and the reat is pure hog wash.
      I am not hiding from anyome son.I posted the facts and some opinion's.We still have that right in our constitution don't we?

      You also refused to believe that McClelland is NOT a board member of SunTrust Banks, Inc. after being told so repeatedly.

      Let's get this issue cleared up once and for all.Mr. MaClelland is on the board of directors at UNM.In his brief bio he states he is also a board member of STI.I did not make this up!
      At last glance STI held 7 million shares of UNM.IMO, STI's cost basis in the UNM position is $50 dollars per share.

      You also attempted to assert that STI was holding a considerable amount of UNM stock on its books. Which is also untrue.

      You may be right and you may be wrong.The stock could be a collateral for a loan made by STI to UNM.I don't know for sure,do you know for sure?

      No one owes you an apology for anything. The reasons for your posts were very clear. You later attempted to assert that it was all just your opinion.

      Well everything that is not a fact is obviously imo.

      BTW, are you the broker at Merrill that RAISED the recommendation on Wachovia stating it would hit $40 by July?........LOL.
      Nope not me.
      I will review the post you found so offensive to Mr.MaClelland you are claiming was an attack on Mr. Maclelland.I meant no
      delibertae attempt to discredit or attack Mr. MaClelland.So put that piece of cheese in the refrigerator before it begins to smell.
      Look for this stock to hit the forties before it sees 60 again.
      IMHO

    • No one "jumped" you because you predicted the stock would hit $55. We jumped you because you brought your silly "fight" with Hugh McClelland on to this board. Instead of being a MAN and writing to McClelland you decided to hide here and post your misgivings.

      You also refused to believe that McClelland is NOT a board member of SunTrust Banks, Inc. after being told so repeatedly.

      You also attempted to assert that STI was holding a considerable amount of UNM stock on its books. Which is also untrue.

      No one owes you an apology for anything. The reasons for your posts were very clear. You later attempted to assert that it was all just your opinion.

      BTW, are you the broker at Merrill that RAISED the recommendation on Wachovia stating it would hit $40 by July?........LOL.

      IMHO

    • To all of you who jumped me,johnjay1,trust company banker,oldfart and sti invest 1.
      Apology accepted.
      Look for more downside activity next week.Bank index has hit yearly low.Foreclosures are at an all time high.Loans are going bad and their are no new jobs being created for the economy to sufficently recover.
      only in my opinion

    • They may play a little harder in 'speculative investments' than you think. Right out of the 10k

      "Derivatives - Derivative financial instruments are components of the Company's risk management profile. These instruments include interest rate swaps, options, futures, forward contracts, credit default swaps and equity derivatives."

      I don't doubt that STI is conservative (one of the reasons they are a very strong financial firm) but don't thionk they won't jump on a good investment when they see one.

      That doesn't mean that their "portfolio" would be any danger to STI. As you pointed out their conservative philosophy probably keeps them in the blue chips.

    • Yes, I know it is very common for companies, not just bank holding companies, to park excess capital in investments. Let me ask you a question, who said investents means common stocks? I don't know about other bank holding companies but the investments SunTrust makes with excess capital are debt instruments. Sure, there a few very, very minor equity instruments in the investment portfolio, but they are less than 5% of the total.

      Investing in common stocks is very speculative and if you knew anything about SunTrust you'd know that's not what we're about.

    • I'm curious, what makes you think that STI doesn't hold common stocks in its investment portfolio?

      It is very common for the holding companies to park excess capital in investments until needed.

    • Why did you change your screen name from ex_banker_billp to why_iwander? Is it so you could post a bunch more nonsense? Your post doesn't make any sense.

      "I do not know of any rules prohibiting a bank from makimg (sp) investments in the stock market."

      Then you are truly an idiot. Banks have been prohibited from investing in the stock market for nearly 75 years. Where have you been? Bank holding companies can invest in equities but where are they going to get the money to do that? The don't take deposits and they can't borrow from the bank. There just isn't a significant source of funds available to a bank holding company to do any serious investing in the stock market. I don't know why you're posting this on the STI board. STI DOES NOT INVEST IN COMMON STOCKS!!!!

      "Why shouldn't all banks post what and when they do it with our money?"

      What are you talking about? If you would take the time to read the annual report of a bank you would see there's a wealth of information in there about what they're doing with "your" money. If you're too stupid or lazy to do this then stop wasting our time. If you're a short (and a bad one at that) and you think you can affect the price of STI with your ridiculous ramblings think again. It's painfully obvious to everyone you don't know jack. Go post some of your crap on the Wachovia board, that place is full of loonies like you.

    • the_stairway_to_freebird the_stairway_to_freebird Sep 26, 2002 11:45 AM Flag

      Just curious.Did you lose your car title and weren't able to get your tag a while back?

    • Sorry guys but bank CAN hold stock through their management holding companies (a legal but thin distiction). So while a BANK can't take its deposits and buy any stocks, the holding company can buy pretty much anything it wants.

      That's why very, very few banks are anything but wholly own subsidiaries which do not issue stock.

      So in this case the Sun Trust Banking arm can't own stcks, STI (Sun Trust Banks, Inc.) the holding company can.

      You don't own stock in the "bank" but in the holding company.

    • I sense something going on here too. I sense that YOU are attempting to imply collusion. YOu are treading on very shakey ground.

      Law prohibits STI from making loans to UNM using their own stock as collateral. And, if stock is used as collateral for a loan and the value of the stock drops, new collateral must be introduced.

      You are making some very serious accusations here. And attempting to say it is YOUR opinion. We all see where you are going with this.

      Dr. Bob and rdm are correct. Banks are prohibited from purchasing stock in the market.

    • View More Messages
 
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