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  • jim56442 jim56442 Oct 20, 2003 11:12 PM Flag

    Check this out

    Hey BBT Fan,

    Hope you read Stock's reply to your post as he picked up on exactly the point I was trying to make. All of the details of what I say are in the annual reports.

    A fine example of what I was saying is the fact that in 2000 the top six executives of BBT were awarded 638,494 options at a price of $23.9375. Check out this option price even though the price of a share of stock was over $40 in January of 1999.

    The closing price today of a share of stock was $36.96 which is a difference of $12.985 per share. This means those options are currently worth $8,280,844 or so. Do you really think Mr. A and the other five put in over 8 million dollars in their 401k's in any one year? Because this only represents one year to them. Remember to that they have 10 years to exercise them.I still stand by my original statement.

    I agree with Stock too on the fact that I find it curious that you changed your position from one day to the next from a buy on your 10/19/03 post to a hold on your post today the 20th.What has changed?

    However, I do agree that lots of executives are over paid, the point is that some are more over paid than others.Two wrongs do not make a right.

    An article in Forbes magazine on Pay Vs Performance in April gave Mr. A an efficiency Grade of C. This is not my opinion, but Forbes magazine. So the question is are we overpaying on these particular executives?

    Regards,

    Jim

 
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