The merger was great for Orr and the
stockholders, but there was no equality as far as the employees
were concerned. He sold SNB his prior bank in
Winston-Salem, which was much smaller than SNB, but he called
the shots after that merger. The old heads at SNB
never knew what hit them.
There is no such ting as "MOE" ... it is a
political term used to manage expectations ... I went
through one in the Pharmaceuticals Ind. in 1995 ... "MOE"
was applied to everyone but Senior Management.
Lesson ... job security is a myth, every employee is
really an independent contractor ... anyone who thinks
otherwise is dreaming.
Organizations want to use you
until your value exceeds their willingness to
compensate you, then you need to be ready to move on
In mergers, this is known as "brain drain" ...
everyone with skills usually hits the road during a
merger, esp. in the technology field.
trying to point out how great BBT is. I said I
agree they are an excellent bank with good management,
etc. I agree they have done better than most (but not
all) financials over the last year or so. My point,
and the point of an earlier post was that all banks
may not be the place to be right now, even BBT. I
know my glasses need to be changed, but as best as I
can see, that 2 year chart shows BBT at approx. 28
this time two years ago. Why, I believe they are about
at 28 today. That seems sideways to me. Yes I know
they were higher (and lower) than 28 during this
period, but this has been touted as a long term hold. I'm
just poiting out that not everyone bought at 28 or
less and sold at 40! They thought this was a good
"investment!" Anyway you cut it, over the last two years,
albeit with ups and downs (Sheesh, sounds like EEOC
talk!), the stocks has basically moved sideways.
That's my story and I'm sticking to it!
(more than enuff I suspose) on that. What happens if
BBT buys another little bank in the first quarter?
Would they venture for something larger? I keep hoping
for a MOE with ASO but I think I'm SOL! Oh
Any thoughts on current merger
I'd have to agree. Compare BBT w/ other SE
regionals and you will see the same general pattern on a
two and five yr chart. I do think that BBT will
resist a merger to a greater degree than some of the
other SE regionals. Primarily because their
profitabilty is better. Possible exception might be First
BBT closed 1997 at 32 1/32 and closed 1998 at 40
3/8 - that's a 26% gain for the year 1998 which is
pretty good. Only one year,1999 has been bad for BB&T
and financial stocks in a rising rate environment. It
ain't good now but history teaches us it'll get
As I have posted many times before, I think this
is an excellent bank and has good management. If I
click on Yahoo's 5 year graph of stock price (about the
time the MOE (ha,ha, ---) occured, it looks pretty
good. If you click on a two year chart - not so good -
in fact it looks pretty crapy. I am not a day trader
- two years is about 600+ days (I can't add this
late at night), and I think a two year wait is a
pretty long time.
So, I am not a DELIGHTED (sic)
shareholder - I've gone pretty much sideways over the last
Let's get real folks - I'm not
trashing the stock (See above and many previous posts),
but as an investment over the last two years at
least, BBT has been far from stellar.
France, this is acceptable, but in rural MD, this sorta
sucks (to quote my grand nephew). Sorry Fan, you guys
can love it as I do, but don't tell how wonderful it
is if you bought it two years ago.