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BB&T Corporation Message Board

  • rwmgn rwmgn Apr 28, 2004 8:38 AM Flag

    BBT NOT FOR SALE

    I keep recalling the many statements JA has made over a period of time to the effect that BB&T is not up for sale. I still believe this to be true. I believe that if JA had changed his mind he would have said so.

    Just my humble opinion.

    RW

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    • JoAlice may not say so, but as the old saying goes, "everything is for sale". IMHO

      LM

    • His obligation, as Chairman of the Board, is to present any "reasonable offer" and the Boards' recommendation to the stockholders when an offer is made to purchase BB&T. Don't think it is up to him to sell the place. Of course, his presentation to the Board and then to the stockholders is critical as to the outcome of the vote. Things are not always as they appears. Don't forget that Allison & his crew all work for the stockholders but their judgement could be is swayed depending on what they make in the deal. Damn shame but it happens all the time.
      rm

      • 2 Replies to oneyoungdoctor
      • I understand your point, but not sure I agree with it. I think it is his "job" if he can not present a cogent argument that the shareholder's value in the company will systemically increase. In other words if he predicts, based on internal growth, etc., that the shareholders' value is not increasing as fast as it might when part of another, faster growing value company that might acquire BBT, then I think his ethical obligation is to present that conclusion to the Board. It is the Board's responsibility to us, the owners of the company, to act on this conclusion or to hang in there and not sell.

        Now a lot of that "analysis" would have to be based on assumptions and speculation, but they can compare their internal growth, etc. to others in the market and decide if we shareholders would have been better off in another stock. Yeah, I know we have the ability to act on that ourselves by selling BBT and buying the "better" investment, but that doesn't mean (IMHO), that Mr. A does not have a responsibility to us to consider this and act accordingly.

        That being said, I think he thinks this is a short term set back for the company and long term the current owners of the company will come out ahead. He may be right. He may not be.

        I guess I just hope that the Board is forcing him to justify his position to stay independent (assuming that's the case) and is not just looking the other way.

        I think I understood what I just said, but you know me....

        Regards....

        Stock

      • I understand your point, but not sure I agree with it. I think it is his "job" if he can not present a cogent argument that the shareholder's value in the company will systemically increase. In other words if he predicts, based on internal growth, etc., that the shareholders' value is not increasing as fast as it might when part of another, faster growing value company that might acquire BBT, then I think his ethical obligation is to present that conclusion to the Board. It is the Board's responsibility to us, the owners of the company, to act on this conclusion or to hang in there and not sell.

        Now a lot of that "analysis" would have to be based on assumptions and speculation, but they can compare their internal growth, etc. to others in the market and decide if we shareholders would have been better off in another stock. Yeah, I know we have the ability to act on that ourselves by selling BBT and buying the "better" investment, but that doesn't mean (IMHO), that Mr. A does not have a responsibility to us to consider this and act accordingly.

        That being said, I think he thinks this is a short term set back for the company and long term the current owners of the company will come out ahead. He may be right. He may not be.

        I guess I just hope that the Board is forcing him to justify his position to stay independent (assuming that's the case) and is not just looking the other way.

        I think I understood what I just said, but you know me....

        Regards....

        Stock

 
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