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TrustCo Bank Corp. NY Message Board

  • c_lafong c_lafong Jan 30, 2010 10:38 AM Flag

    Challenge to becareful and his toady post (who won't answer)

    hey becareful,

    You posted, "Don't forget that the executives of our company, one of the greatest regionals in the history of US banking, have a serious business agenda. Certainly the stewardship of Trustco, and the protection of our interests as stockholders, deserves adequate compensation."

    The truth is that the bobs have stuffed their pockets while they mismanaged the business and threw ethics to the wind. They protect the interest of the bobs while the shareholders get screwed.

    Please respond to the following:

    (1) What did old bob do to merit his $2,500,000.00 "consulting" scam for which he has done NOTHING?

    (2) Why should old bob get a "consulting fee" when he is well paid as a member of the BOT? Members of the BOT are already well paid for their advice.

    (3) Old bob made his son the CEO despite a total lack of experience and ability. What kind of "stewardship" is that?

    (4) Old bob created a ridiculous formula for giving the bobs huge bonuses, while the profits and the stock price are sinking. Why aren't bonuses based upon building shareholder value?

    (5) Old bob expanded into Florida, which has been a major blunder.

    (6) Please comment on the Balston Spa fiasco, where the bobs attempted a takeover and were rebuffed like foolish clowns.

    If TRST is "one of the greatest regionals in the history of US banking", then why is the price down from $14 to $6. why was the dividend slashed two times, and why are profits declining year after year (since 2005 to levels no seen since the 1990s?

    Final question. Are you really Mr Bucks?

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