Now that the 3 year presence in Northern Virginia that BB&T agreed to at merger time is almost up, I am not at all surprised that they are closing operations at that location. Good financial plan and also in step with the ethical and moral business plan that BB&T has shown in the past. Another 225 employees will most likely be severed, or at a minimum have their lives disrupted. Also, I wonder why the "powers-that-be" at BB&T have not told people about the two new single level buildings that they are having built on their property in Frederick Maryland? The buildings look to be operational in nature and should be complete within a few months. Think it has something to do with F.C. operations closing?
Go put up the capital and start your own bank. Last time I checked it wasn't a tough labor market in Northern Virginia. Get over it and move on or do something about it. I am a shareholder and I want to make money and I am not concerned about whether or not their is some operations or loan center or whatever in Northern Virginia. I am concerned about efficiency, performance and earnings. Those Virginia bankers that sold to BB&T were big boys and knew what they were doing. Could it be that some of these employees you speak were overpaid for the jobs they performed? I don't know the answer and I don't really care.
Before moving on, I would like to point out that the phrases "I am a shareholder" and "I want to make money" seem to be contradictory when referring to BB&T's results over recent years. Still time to make money by selling before it goes <40. Some took similar action with AOL stock a few years back before they dropped from $180 to near nothing. Perhaps they could open their own bank. Profit on paper is o.k. but not like money in hand.
Wonder if the completion date of these buildings is just a coincidence with the closing of FC proof operations or if it was planned all along?? When BB&T starts buying again at the first of the year, it will probably start with a Florida based bank. Provident and Merchantile Bankshares are the only ones in suburban Washington/Baltimore that are of any consequence and the premium would have to be much higher than that paid to FVB. So, what happens after the end of February to the proof people at F.C.---about the same as happened to other FVBer's. Watch your stock because when BB&T buys again, the value will go down again as with their other "merger's".
I wouldn't be surprised. I guess those 'bible toting christian bankers' couldn't resist a good profit after all.
Makes my stomach hurt to think about the 'prayer/business meetings' we heard about were actually a joke on us.
finally sounds like people are starting to get it!!! I like the past 5 posts. Very accurate.
I wouldn't give two craps about this bank and board if it wasn't for the kool aid drinkers that still exist.
The rest of us need to make sure that fan and stil's propoganda isn't believed by the masses.
This bank fell apart after FVB. They are bible toting, inbreds, with an industry that has simply passed them by.
Time to sell and get some value for shareholders for the first time in 6 years.
The two buildings in Frederick do not belong to BB&T. The land was sold last year to a commercial developer that built some spec. office bulidings on them. There are no BB&T people moving in there. Don't believe all rumors.
Property is owned by BB&T and construction is being paid for by BB&T. Check out Frederick County Division of Permitting & Development Review---Permit 21840, 14287 etc.
Property owner is listed as: Branch Banking and Trust Company, P.O. Box 1290, Winston-Salem, NC 27106 phone (336)734-0576
If you are going to post, try to get the facts correct. The time frame is now over 6 3/4 years.The original reference was 12/31/1998 and the price was $40.31 at end of day. Even with the current price and the dividends the total return has been a little less than 4% annually. This is figured at straight percentages and not even compounded returns.
I'd be more than happy to take your money and give you this return over the next 6 3/4 years.
Good post. i just wonder what the stock will look like when bb&t starts buying banks again in 2006??? were i a bb&t stock lover i would sell now and buy back after they announce their first merger and, as in the past, the stock price drops. this would be wonderful for a stockholder that was satisfied with the overall return of 4%(including growth) or so. at this point in time a person could also realize the same return with a strong.municipal bond and not have to worry as much about the tax consequences.
Jimmie, good to see you back in action, and still trying to win arguments.
I have on a couple occasions mentioned purchases I've made, and at what price. I feel no need to answers questions about my finances to you or anyone else. I have stated a 40 year association with BBandT. Common sense will indicate I have many long term holdings. I think Fan has indicated the same. I also have mentioned purchases in recent history that I've sold at various highs and made the missus happy, along with proving my golf game is not as successful as my stock guessing. This cool air makes me think of chili making and Bills BBQ. Re the Va Call center, when the WVA purchase was completed, JA and Company made massive improvements and enlargement of the existing facility there. JA thinks long term fellers, just as he did 35 years ago along with the other 4. Make money Jim, don't worry about winning petty arguments on a monitor.
Hey bullet welcome aboard. My point is Jimmie takes one sentence and reads volumes into it. Because I said I had some stocks held long term for the kiddies, he assumes inheritance goodies are only that. I speak of long term in 40 yrs not 5 7 10 etc. I play all games in the major leagues, not the minor leagues. I have never offered myself as a genius, just lucky at stocks and life. I buy and sell in one day, weeks, months etc. I have been lucky, that simple. Jimmie likes to quote stats, etc. I like to make money. BBandT has been veddy veddy good to me, via long term, acquisitions, options, you name it. I don't feel any need to prove anything to Jimmie, or do his research for him. He just like to "argue", or outword folks. I can play games with anyone. I can also admit error if I'm wrong. I haven't been so far. You make many great points that apply to most. Experience has always won where I come from. Hope you continue to post.
Timing is everything and I am not knowledgeable enough to be able to tell when to buy and when to sell with BB&T. Give me proven growth stocks and I will win every time and without the stress of trying to figure who is going to buy who and when.
Dont click on the link provided by this message as it will automatically put Stilginyet on your IGNORE list. Whether you like or dislike his opinions a poster should not attempt to trick people into automatically putting someone on other peoples ingnore list. I have reported Winstonremarks to Yahoo.