This management group is either the brightest of the bright or the dumbest of the dumb..........More Florida exposure ?
Florida can't give away property , more illegals than Texas/Ariz. , drug trafficking off the chart , rampant crime , filth ( except for elite gated communities ), weather tragedies and turmoil annually , environmental devastation always right around the next corner , insufferable narcissists , Spanish the #1 language , bumper to bumper traffic , annoyance beyond belief , bugs and other assorted vermin , but I forgot, the sun shines a lot and there is old money still in the palm trees !!!
Hope they're right , if consummated , once again " our money " burns a hole in " their pocket " , bigger and bigger is worrisome in this fragile economy. Further , just what does a Northeastern , snow/rust belt bank know about the intricacies of a deep southern/spanish/cuban economy ? I'd venture , not much !!
Instead of buying United, PNC should buy back it's stock like most profitable companies.
"Stocks are getting scarcer in the U.S. for the first time since the bull market began as companies cut share sales to the lowest level since 2006 and buy back equity at the fastest pace in four years.
Amgen Inc. (AMGN), Hewlett-Packard Co. (HPQ) and 1,971 other U.S. companies repurchased $397 billion of stock last year, while they issued $169 billion of new equity, data compiled by Birinyi Associates Inc. and Bloomberg show. The combination reduced the Standard & Poor's 500 Index divisor, a measure of outstanding shares, by 0.6 percent last quarter, the first drop since March 2009.
Shrinking supply supports prices and shows valuations are so low that executives would rather buy back shares than spend the cash to expand, according to Columbia Management Investment Advisers LLC and USAA Investment Management Co. Bears say dwindling growth prospects will limit gains and deter investors who pulled money from stock funds for eight straight months through December, the longest stretch in at least two decades. "