Received annual report& proxy today. Why would anyone sell their position in a company and stay on the board? Why would the board/shareholders allow this? Are not all the insiders that recently sold so much stock seeking reelection to board? Would someone explain the employment contract-Does not seem right?! Also the graph is amusing BIG DEAL one could substitute about any bank that would look that good and most better!
i just heard from one former board member that several directors wanted to sell the bank but day, hearin and hess didn't want to and they control it so that's that. same source that the directors who wanted to sell the bank are the same ones selling their stock. call this triple hearsay but gossip from this source has been pretty dead on for years now.
i think we are truly all idiots for still being in this crap when we all should have jumped in january and gotten into worldcom or somebody similar who knows the meaning of shareholder value.
why does the new proxy increase stock from 100 million shares to 250 million shares? they must be getting ready to really give themselves some hellacious bonuses!
whatever you do, vote against anything this management bunch wants to do; unless you are part of the inside group who controls it and appears to be taking it private, going along with them is not in an outside shareholders best interest. that many outside directors can't be wrong.