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BB&T Corporation Message Board

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  • rwmgn rwmgn Apr 3, 2004 12:31 PM Flag

    Shareholder Proposal

    Jim: My greatest interest is in proposal 6 and that is where my remarks were directed. As for the others there are points for and against staggered terms. Not having staggered terms on city and county boards has in the past resulted in a whole new crew in charge and they may or may not be ready to do the work before them.


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    • City, County, all loal boards really should be eliminated in most cases, especially urban areas. Biard members are mostly people who had a major presence in the business community years ago and have kind of hung on to the board gig for status at the country club and Rotary meetings. Or else they are ssmaller business people compared to the level at which BB&T must do business today. Its an unneeded expense in the majority of cases.

      Not that BofA and FUNB/Wachovia are shining examples, but they eliminated local boards years ago.

      Another example of BB&T's wasteful "community banking model".

      This is not a community bank! Its not a bad bank, but its not a community bank, calling it one doesn't make it one.

      Hey JA...what is IS!

      • 1 Reply to EBITDAHA
      • I agree on local boards not being a great help, but since they usually aren't paid or paid very little, what's the point of eliminating them?

        I really think that JA needs to begin to show the Street who will run the bank when Henry retires. For that matter, when KK and the rest retire. Remember a while back when I said this was in the wings? I'm not that smart, just had a friend of a friend who said that it was coming based on what she'd heard from management cronies.

        If the street thinks they have lost their way, show new management with new ideas. It's not that the "plan" JA has had over the year's isn't any good, it is that no one believes it will work with the Bank the size and geo breadth it has become. Either put out a new plan or show why the old one still works. You can say that management should not worry about the Street, but they need the PE to move up to do more deals. A street that believes again, will push the PE. Right now, they think John Gault is dead!



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