BBT as I see it is to big for there britches.
They try to operate too big in small towns and end up driving away 40 percent of the small to medium customers. Sure keep the big customers happy..but when the small and medium ones leave this is your market growth in these communities. Here in our town people cringe at the name BBT.. Rates and fees for the small people just don't cut it here. I think soon the stock will reflect it.
Just my opinion
Is that "them there" britches or "their" britches Grammer King? I'm from a small town too and folks here don't expect banks to "give away" their products and services, just like they don't expect to walk into a restaurant and get their meal for free. I would imagine the so called "40 percent" they're driving away are unprofitable anyway. As a stock holder I'm glad they don't operate as a charity.
Paul sounds like he has the typical BBT chum attitude.. Nobody expects it for free. But when small owned banks can out cut a major bank like BBT that is shame and cut them bad to I might add. You say you dont want the little people? The little people my friend is what makes the world go around. BBT spelled backwards... The banking bast@@ds
Hmmm Nobility - Geez , I had a lot of scotch and was toasting the UZO some fellows I used to serve with : Via video-that night Some old friends always leave me with headaches...
...(the earnings) but one thing I do know is that JA & the top mgmt over there always seem to protect the earnings really well. It's hard to tell in this market about ANYthing right now, it's sooooo dam fickle. And theres trouble brewing for all the financial markets, (not just BBT) when the tech market overdrafts-and their former fiduciary independants come home to roost. I think the scuttlebutt we're hearing is a direct result of them taking the necessary precautions to protect those earnings, in light of that.What I have NOT seen is many other financials taking the same steps.It's quiet. Given the state of the market one almost has to go by instinct:(I hate to hear myself doing that) the numbers are bouncing all over the place - honestly, I think BBT will hold steadily through the second Q of 02 then back into the upwards incline.
People can bail out of any company right now:but they cannot just jump in: it's an employer's dream cuisine market. What costed you $120 to hire last year is now at $85, etc. a friend of mine used to say "youve got to shake the tree to get the dead leaves out.you might lose some good ones, but the ones left are the ones you can count on." BBT is striving for higher efficiency.
BTW - I'm out on a limb: as many are- but one thing I cannot pay attention to is the Analyst's Q3/4 predictions BEFORE or During the 2 weeks of Sep.11th.
That's not what FAN said. 2% across the board means managers don't care. Caring means telling poor performers they need to improve and giving no raises while giving more to high performers. The most unfair way to treat people is to treat them all the same.
Your attack merited no eloquent response. You summed all of my concerns about the raises and benefits with the words "a crock". And with your keen managerial insight, you determined from my posts that I am a "0% person". I suppose you will transfer that same methodology to your employees at review time. God help them if they voice their displeasure over the 2% raises.
And thank you for the information regarding incentive bonuses being available to grade 19 and above. That essentially eliminates 95% of the employees in operations. Clearly the 2% raise will not affect you too severely if you reach your incentive goals. Your facism astounds me. You get the incentives, everyone else gets 2% and had better be happy about it.
Fortunately I believe that most managers aren't like you, and am blessed that mine is your complete opposite. Of course, I'm also guilty of making severe assumptions based on a couple of posts.
Also, my prediction about the benefits cost increases has come true. It looks like we have to pay about 30% more out-of-pocket for health insurance. That should effectively eliminate most people's 2% raises, if they cover families.
It impresses me that you are capable of such an eloquent response. Please don't tell people you work for BB&T. You do not "strike" me as one of our shining assets. The grade level for incentives is 19. I wouldn't expect someone of your caliber to know that. My point being that our benefits are very competitive for the industry and if your primary concern is the raise you are getting next year, you have bigger problems.
LTNS, HB! Howz t'RAW going? Have they made you peace advo in the FEBA yet?
Send me some Email, since youre LD/OCO surely, by now. Called Kat, said youre on Vacation.
I'll put up some uzo, and wait for the pics.
Veiters - Lex
If you're an employee, you know the 2% of total salary expense is a gross figure that will divvied up based on performance and hitting personal goals with best performers getting more and those who missed goals getting 0,not an un-american concept. As a shareholder I like the notion of pay based on performance. I also like the fact 401(k) plans hold BB&T shares... should make everyone think like S/H since they are one...and put customers first, since they are the real ones who pay your salary and our dividends, not the bank.
If you're a long term employee as you say, you've also done pretty well with BB&T stock appreciation over the years.
Finally, thanks to you and the other BB&Ters...take care of "our" customers and let's not end up like FTU/WB and others who forget why they exist.
Fan, you're right about us thinking like shareholders, which of course we are. Most of us are cost conscious concerning the bottom line. But we still like to put groceries on the table between now and retirement. As Blues said in his recent post, some will get 3% and a few will get 1% but a great majority will get 2%. And if the officer thing is true, (which I doubt will happen), then a lot of people will get nothing regardless of performance. In reality the only employees who will get 1 or 0% are the ones you want to drive out of the company. And even if you get 2% you don't keep up with the cost of living. I'm really waiting for the other side of the axe to fall soon with benefits open enrollment. I cover a family and I'll probably get hit with a 20% to 30% increase in benefit cost. Meaning the 2% (or 3% if I'm evaluated as perfect and my boss has someone he wants to quit - you have to take away from one to give to another) will not even cover the increase in benefits. Just not a good time here.