Iron Man you are not very informed are you? When was the last time BB&T upper level employees received a bonus?
Just like I thought - you are clueless. For your information BB&T has paid no executive bonuses the past 2 years because performance did not merit bonuses. Thi bank has a culture of only paying bonuses for superior performance.
BBT may not have called the payments to executives bonuses, but management sure got well on other things. I see they got stock awards, option awards, non equity incentives, non-qualified deferred earnings and other compensation.
I guess all the above doesn't count. Just like the statements that management is just good trust worthy people who would never cut the dividend.
The previous argument was that they were making so much money off the TARP funds. If they were investing and making so much more off the funds then why pay the funds back? Why not just keep leveraging them?
What did they do with the cash flush it down the toilet, just give cash back and not issue new shares. Asshole Henson said dividend was safe for 2009 not long ago and just on May 7 asshole King said capital was adequate. Any chance for class action against these lying turds?
I agree with inlet, this is a good strategic move on BBT's part. Strengthening the balance sheet at this time is smart.
We might go up on the news but I think we will continue to trade in the channel and at this time we are on the upper end of the channel so there might be a bite of a down move with the overall market. Good for my covered calls
For a bank that did not need the tarp money in the first place and were coherced into taking the tarp money they sure are indicating that they did need the tarp money by the dividend cut and the stock issue. This, puts this companies integerity in question. So much for the money just "sitting there" drawing interest waiting for the repayment procedures to be defined.
You guys have very short memories. BB&T sold shares to the employee pension plan about a year ago at around $22-23 a share. They also issued preferred in the summer.
They continue to strengthen their capital position to take advantage as opportunities become available. Their stated goal is to make buys when the time is right. So far they have proven right to wait.
It is called planning and running the corporation for the long run.
Where do you guys come from anyway? BB&T does have the funds to repay TARP. Look at the balance sheet. Garnering addition capital at this time is a rational step for future investments.
I usually don't agree with strong sell scum but you got my thoughts exactly, dilute the owners of the company, cut their dividend so you can pay tarp back. And why pay tarp back? The shareholders could't give a crap, its all management that it benefits.