BBT as I see it is to big for there britches.
They try to operate too big in small towns and end up driving away 40 percent of the small to medium customers. Sure keep the big customers happy..but when the small and medium ones leave this is your market growth in these communities. Here in our town people cringe at the name BBT.. Rates and fees for the small people just don't cut it here. I think soon the stock will reflect it.
Just my opinion
Is that "them there" britches or "their" britches Grammer King? I'm from a small town too and folks here don't expect banks to "give away" their products and services, just like they don't expect to walk into a restaurant and get their meal for free. I would imagine the so called "40 percent" they're driving away are unprofitable anyway. As a stock holder I'm glad they don't operate as a charity.
Paul sounds like he has the typical BBT chum attitude.. Nobody expects it for free. But when small owned banks can out cut a major bank like BBT that is shame and cut them bad to I might add. You say you dont want the little people? The little people my friend is what makes the world go around. BBT spelled backwards... The banking bast@@ds
LTNS, HB! Howz t'RAW going? Have they made you peace advo in the FEBA yet?
Send me some Email, since youre LD/OCO surely, by now. Called Kat, said youre on Vacation.
I'll put up some uzo, and wait for the pics.
Veiters - Lex
Excuse me KING OF THE BOARD..
You don't piss me off Lex. If you believe BBT's BS thats fine. Stock holders need to know the truth about BBT. They are loosing people because of managment or should I say lack of management skills. BBT needs to take courses in Banking-101 and learn how to deal with customers. If you cant keep your employes
happy it will show up in customer service, bad customer service leads to NO customers, no customers lead to NO business, NO business leads to unhappy stockholders. See what I am getting at????
Employees who have absorbed the BB&T sales culture and approach are held in high regard by other financial institutions. The other banks can pay a premium salary because they have not done the training. BB&T must do a better job of protecting its assets. It's a revolving door!
Penny Wise and Pound Foolish as they say!
Lex old boy -
BBT is neither more noble oe less noble. It's a company populated by some really good folk, some really OK folk, and a few not so good folk. In other words - like most US companies (or families for that matter!)
I doubt they are at either extreme of good or bad, so why waste time discussing it?
Now, what do y'all think of earnings for third quarter?
Hmmm Nobility - Geez , I had a lot of scotch and was toasting the UZO some fellows I used to serve with : Via video-that night Some old friends always leave me with headaches...
...(the earnings) but one thing I do know is that JA & the top mgmt over there always seem to protect the earnings really well. It's hard to tell in this market about ANYthing right now, it's sooooo dam fickle. And theres trouble brewing for all the financial markets, (not just BBT) when the tech market overdrafts-and their former fiduciary independants come home to roost. I think the scuttlebutt we're hearing is a direct result of them taking the necessary precautions to protect those earnings, in light of that.What I have NOT seen is many other financials taking the same steps.It's quiet. Given the state of the market one almost has to go by instinct:(I hate to hear myself doing that) the numbers are bouncing all over the place - honestly, I think BBT will hold steadily through the second Q of 02 then back into the upwards incline.
People can bail out of any company right now:but they cannot just jump in: it's an employer's dream cuisine market. What costed you $120 to hire last year is now at $85, etc. a friend of mine used to say "youve got to shake the tree to get the dead leaves out.you might lose some good ones, but the ones left are the ones you can count on." BBT is striving for higher efficiency.
BTW - I'm out on a limb: as many are- but one thing I cannot pay attention to is the Analyst's Q3/4 predictions BEFORE or During the 2 weeks of Sep.11th.
Regarding the 2% raise average. I'm a BB&T employee. From a pure stockholder viewpoint, holding expenses to a minimum is a good objective. Some posters have pointed out the negative aspects of the 2% average such as higher turnover, less company loyalty, etc. I think most BB&T employees would not have a problem with the low average if it weren't for the following reason. The problem I personally have with it is this. I have worked here for a number of years now (I won't say how long because I don't want to be identified.) It seems as long as I've worked here we've had record profits for as long as the latest bull market has been around. That entire time the raise average has been set at 4%. Clearly when things are good, BB&T management has refused to share the gain in profits with their employees. (I can't speak for management bonuses, just the worker bees.) But when times are bad, they have no problem sharing the pain. Had BB&T in the past shared in the growth, more loyalty would have been built. As many of you already know, most employees are heavy in bank stock via their 401K plans. Sure, over the past 10 or so years the stock price has appreciated nicely and we have benefited from it. But now that times are tight, we will get hit from two sides now: low raises and a battered stock price. Another rumor being spread: Officers of the bank will get 0% raises. This is a financial institution. I would guess over half of the employees are officers of some type. If this is true we stock holders will truly see expenses held to a minimum.
If you're an employee, you know the 2% of total salary expense is a gross figure that will divvied up based on performance and hitting personal goals with best performers getting more and those who missed goals getting 0,not an un-american concept. As a shareholder I like the notion of pay based on performance. I also like the fact 401(k) plans hold BB&T shares... should make everyone think like S/H since they are one...and put customers first, since they are the real ones who pay your salary and our dividends, not the bank.
If you're a long term employee as you say, you've also done pretty well with BB&T stock appreciation over the years.
Finally, thanks to you and the other BB&Ters...take care of "our" customers and let's not end up like FTU/WB and others who forget why they exist.