I certainly am not defending Stil...he has been on Ignore for months but Yoda you were wrong about an imminent buyout...just setting the record straight.
Both of you need to suggest what needs to be done to get this company performing or you should give it a rest.
I'm not here to waste time on who might buy BBandT, who BbandT might buy, to waste time on intellectual elites saying the same things others have said on this board for 7 years, then look in the mirror and pat self on back at such brilliance. I challenge you to find one post in lets say the last 6 months that will pump up the bank, or its stock. If it were so easy all you girls would be CEOs, right? I challenge you to find one posted predictor whose words came true on anything, well except mine when I challenged those who said the signs will change, these will consolidate, those will be let go, oh and those of the feller way back who ID Yodee. I dare say he knew her/him and knew her/him quite well. Then know how many who have proferred weak jabs at ole STIL, who is STIL around like BBandT who is STIL around, and JA who is STIL at the helm, and all of us will STIL be around through 2007. For those in Rio Linda that means BBandT will not be sold or MOE, and JA and Stil will STIL be at the helm making big $$$, and above all be happy, and not whining like girly boys. With that the jey is near, I'm off to Tampa again, btw, last trip I saw El Rushbo arriving to his jet for a golf outing. Wish I could play, but I recognize my limits, something a few on here should work on. Hold the fort bart, and good luck on finding a pumper upper.
Ok....didn't I see this post before as well???
Glad you made lots of cash. If you're not here to discuss the company and the stock growth (or lack of) and only here to tell us what hasn't happened yet, still has happened then why bother posting at all?
Well all know that BB&T hasn't been sold or MOE yet, nor has the Rangers won the World Series or the Browns won the Super Bowl, President Bush is still in office, it's still July bla bla bla bla.....seriously, is that all you have to offer? You have nothing more interesting to say than parroting John Allison and Rush?
Do you only post to mix things up? I'm thinking that Yoda must be right about you at this point because, outside of a serious mental condition, nothing else makes sense.
Just made 2000 in one day on BB&T. Going back south for more fishing.
Yodeeballs, remember that July 1 date, remember those look alike JC Penny/new green signs, remember proof to follow, just the latest predicts. Sometime in between doc visits, sit down, well, if you can, depending on the last procedure, and just look at this statement: BBandT is STIL not sold or MOE. Thats a statement. Psychological definition of defensive: Constantly protecting oneself from criticism, exposure of one's shortcomings, or other real or perceived threats to the ego. Now surely I don't fall in that category. Normal definition: Intended to withstand or deter aggression or attack. How in the English language, unless you went to liberal U, can you call my statement defensive? If sale or MOE comes along, it will damn sure be good for me. It hasn't, it won't in 2007 which will remain an uneventful year, another STATEMENT. Worry I don't, I'm set for life. Give stock advice, I don't I'm not qualified, nor are the other self appointed intellectual elites. Tell how I've made oodles and gobs off this stock, I have, I'm very qualified. If I were an employee of long standing I certainly wouldn't tout short term as much as I do. I bought another block yesterday for short term hold, and another for long term. I can point daily to all your failed predicts, which you prefer to IGNORE, NOT ME THO, and I can can make my STATEMENT daily which is STIL correct. No one has my tongue except the Mrs, eat yer heart out, I answer only to her, and receive bountiful returns. I avoid nothing, accept my minority status as named by another, and wait patiently until the majority numbers rise. It may get even one day, and I shall warm up eagerly for the joust. You are strictly minor league, insecure in your shorts. For those in Rio Linda, that means huge fees for cosmetic surgeons.
Everything you say makes perfect sense. I think they are stuck in two worlds which can happen when you grow as quickly as they have. I am guessing they are going to go the "get big, compete with BOA" route through a MOE or by being taken out by someone as they have eliminated Business Banking and converted their business bankers to commercial lenders with true comeercial lending goals.
What is going on looks like they are getting ready to be purchased and is similar to what went on at AmSouth a while back.
To respond to some of your comments: First JA and his senior staff have been at the bank a long time, for many of them, its been their only job. They have not participated in the ever-expanding and ever-maturing global financial markets - as evidenced by such things as integrating credit, capital markets, direct capital investment, asset securitization, etc. They still worry about loan portfolio size rather than how relationships can generate accretive ROE through fee based drivers. They have a very high cost of capital. Unfortunately, for whatever reason (arrogance, fear, stupidity) they have resisted change and are probably the kind of folks who will die on the job, rather than move one inch. You DO NOT SEE younger, Wall Street educated talent coming in to this bank to be the heirs apparent and make better use of modern risk modeling. Quite the contrary - more of the same sort of hokey, outdated view of how to deliver services. This bank has struggled to provide services to corporate clients - their bread and butter is retail consumer. It was a great strategy when they could buy community banks at a discount with their stock. That pond has been fully fished out - - and that is one reason the stock has languised for nearly a decade. Unless they can incorporate more market-driven services to business/corporate clients (and compete on cost with the likes of BofA and WB) you won't see much change here. What's the right buyout price, you ask? Oddly, some time ago I spoke with a high net worth broker at GS who commented, "this stock always has the acquisition premium built in". That's why it hasn't sold, even though it should be bought - it is just overvalued enough to make a takeover not worth the effort. Finally, you ask why there's no Capital Markets effort. (1) The old guard doesn't understand nor trust all the sophisticated engineering, sales based culture, and the high-risk/high-return nature of capital markets and (2) their current Capital Markets managers are all 3rd tier guys who couldn't get hired by Wachovia in the late 90s. If they dumped them and started over - you could see some improvement.
The question was asked a few posts ago in this thread about how can BB&T get the stock price up. The entire problem is with the business model. BB&T is stuck in the world of brick and mortar and due to acquiring community banks has poor branch locations for growth (Mineral, Palmyra, Dillwyn in VA as examples). They senior level management has a wait and see attitude about everything so that they are never the innovator but always come in a day late and a dollar short (example, look how long it took them to come out with totally free checking. You still can't get fees or some other services accomplished over the phone or internet, you still have to go inside a branch). This makes them dependent on their branch networks with high overhead vs. using alternative means with much less overhead. One stat I would love to see is how much it costs BBT to open an account vs say a BofA or WB who leverage technology so heavily. Then, to cut costs what does bbt do? They trim their branch staff, especially tellers, who are the core of their sales and service model. And yes, the tellers do sell as well as everyone else in the branch in their model. So, clients are not migrated to alternative channels, but are funneled to the branches that are no longer staffed appropriately causing increases in wait times and inefficiency. This is why their customer service rankings have consistently dropped over the past several years as surveyed by third party agencies. Further, they have an identity crisis. BBT says their competition is BofA, WB, and Suntrust but they are also getting hammered on rates by the community banks because that is who most of their client base is; old community bank consumers who are not interested in banking with a large retail entity. So my solutions are: First, either be a big bank or play in the minors. If you are going to be a big bank, then buy or MOE to get larger fairly quickly and expand the footprint. If you are going to stay in the minors, stop trying to compete in areas of commercial lending and high end brokerage and concentrate on fully staffing retail branches, specializing in the small business sector, and growing the insurance business. Second, be more innovative and be seen as a forward thinking company. Look at BofA for innovative ideas such as the keep the change account and pre-approved credit card offers at the ATM. Make your phone and internet systems full service to satisfy all of your customers. Third, management needs to be more lean. For the life of me I cannot understand why they still use credit committees to make loan decisiions. I thought that went the way of the Model T. Cut out these unnecessary management positions and fully staff branches for better sales and service. Lastly, really analyze bank branch locations not just for current profitability but for future growth. Cut out some of the dead wood and build de novo branches in growth areas. Just my thoughts as an observer. May be wrong, may be right, but just my opinion.
While I do get a laugh out of your responses to a particular poster, I would suggest you do like most on here: and block his messages. He simply adds nothing to the conversation. Rather, I would suggest you use your time/ creativity and obvious intelligence towards debates that do not sink to this poster's level.
For instance, who would be possible MOE's? Who might want to purchase BB&T? How much longer will JA stay at the helm? Why is there little to no effort in developing a stronger Capital Mkts? What a fair price for BBT would be in the case of a sale/MOE? Is an increasing dividend strategy best for this stock? etc, etc.
The problem with the back and forth with that particular poster is that it yields no new results (like the stock) just the same again and again.
Glad you guys are on here, I appreciate your posts.