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BB&T Corporation Message Board

  • sugarfox98 sugarfox98 Jun 17, 1998 12:32 PM Flag

    Orr No More

    Noticed Mr. Golden Parachute, Glenn Orr is off
    the board. Was this a friendly parting or something
    else? I will miss him. He was my inspiration to aspire
    to greatness or a reasonable facsimile thereof.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Part of my post about IS personnel was in jest. I
      actually own a few that I like a great deal. The purpose
      was to just declare that I am sick of hearing about
      it and to express faith in the business community to
      solve the problem quietly. Many if not most companies
      already have their plans in place. We keep hearing about
      it because no career-minded CEO on Earth would
      pooh=pooh this hot button issue. They have to act like it
      is THE most important issue facing mankind because
      the media has mandated that they must. Its
      not.

      On second Qtr earnings, I'll take 20+% ROE every
      year for the next twenty and start planning my
      retirement at age 55. There are no holes in the earnings
      stream now. To all my former colleagues, I say make me
      rich.

    • Over-under of 70 before the split, I'll take the over(71)

    • Ok, may be wrong.

      Might hit 70 before the split.

      Dr. JunJun

    • SunTrust / BBK....interesting. Unfortunately no
      branch cost savings since no overlap. But it would
      create a SouthEastern Powerhouse. Huge marketshare from
      NC South. STI could learn expense control from
      Allison's efficiency ratio success,(BBK: 50%, STI 60%), and
      both company's could use the others distribution
      networks for their niche markets: STI - Trust, BBK -
      mortgage and insurance.

      Frankly BBK "looks" like a
      better managed company, but STI has the silverspoon
      (Coke).

      Looks alot more appealing from an l/t investment
      perspective than say BBK & SOTR. BBK could become tainted
      with SOTR's weak ROA, ROE and high efficiency ratio.
      Combined with a recession, and there goes the
      value.

      ?? Just my opinion.

    • Glenn Orr rode in to Lumberton a dozen or so
      years ago with the sole purpose of raiding the till.
      Every decision was made to dress up the balance sheet
      for the ultimate payday. That payday turned out to be
      for him only. The merger of equals did not
      immediately reward any shareholders, but Orr got his 20+
      million. How can anyone call this greatness. This country
      must stop measuring greatness by the number of digits
      in our bank accounts. What about duty to community,
      employees, and shareholders. Lumberton got screwed, the
      merger of equals was a joke for employees, and we will
      have to wait and see if the shareholders are
      permanently rewarded.

      • 2 Replies to readum
      • Readum, you are "right on" with your assessment
        of the Orr situation. While the merger of "equals"
        was a little more equal for BBT, wonder if the time
        is right to do a real MOE with Crestar before Y2K
        becomes more of an issue. Your thoughts??

      • Readum:

        Many of your observations ar
        right, but Orr only took a fraction of the wealth he
        created for the BBK/SNB employees (401K's/Options), and
        shareholders throughout the Carolinas. Many folks in
        Lumberton, Wilson, etc. are much better off today for the
        merger. Orr and Allison made a solid play, and one that
        is reflected in returns far outpacing most of the
        industry. By the way, what do you think the chances are
        that either BBK or SNB would be independent today if
        they had not merged? Their signs may read "Bank One",
        or, their financial performance today may look more
        like that of their less stellar competitors in the
        Carolinas. I think I'd rather have a 1 yr. 52% return, and
        be sitting on shares in one of the highest
        performing banks in the country.

        Orr looked out for
        #1, but the returns rubbed off on alot of Carolina
        folk along the way.

        Just my opinion!

        CYA

 
BBT
39.11-0.13(-0.33%)Dec 24 1:03 PMEST

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