I'm sorry - I dont often post, but this I could NOT pass up --- ROFLMAO......Typical NVA - (nothen ginia) -(not to be confused with North Vietnamese Army)>cough< Attitude and all. Gotta love it. If you truly were as wise as you purvey, you'd at least try to look for the wisdom in what Still is sayin. But that's just fine - you go on like you do - and we'll be jussssssst fine. There's a reason this insitution does so well, which is why I follow it. I know not All NVA's are like YOU, I know some real good folks up that way, who have learned to listen twice as much as they talk, just like the ratio god gave you, 2 ears,1 mouth...........LMAO.....
(In My HUMBLE Opinion....of course..)
I don't care what Fan said, I was replying to what you said, which was to make some assumption that because his 401k was less than the average of his comp, that was a bad thing. Theoretically, it's impossible for it to be any higher is my point (and I think Fan's). If that's too far over your head, then let me know and you can borrow my Math 101 book. I think it's still in the attic somewhere.....
This is the original statement which was disputed by Fan."Let's see his 401k is a 50/50 match and he seems to get options which are good for 10 years and grants regardless of how the stock does. Do you think that really aligns him with the sharholders?"
The last statement was that JAA made the statement that his 401k was all in BBT stock and I wondered why his 401k stock was worth less than the average of his last five years compensation.
Don't understand what there is to prove. It sounds good, but the 401k is worth less than an average years compensation over the last five years.
On your comment about respect, I know exactly what you mean as I found years ago that if one does not have respect for ones selve, they can't respect anyone else.
For all the reasons others have given you about the limits on 401k contributions, you cannot look at total compensation and try to make an obscure point about total ownership.
On Yahoo insider trades, there is an exercise on May 4 for cash. Whether they're exercising, buying or selling for whatever personal reasons, the important point for us is THEY'RE BIG SHAREHOLDERS.
BTW, S/S, pension, dividends (BB&T included) are my income since retirement 6 years ago. Just started RMD.
I think this issue is a waste of time..as long as management has large committment to shares, I'm happy.
The maximum 401(k) contribution was $10,000 for quite some time and is being incrementally increased to $15,000 in (I think) 2006.
This does not include "catch up" contributions for those nearing retirement (now $3,000).
I think the $10,000/yr was in force for the bulk of the time in question (where they were available that is).
Of course, the 401(k) has only been around since 1978 (and I don't know how long it took BB&T to offer one).
Jim, if you knew anything about 401k's, I might garner you some respect, but according to the IRS, the 2004 maximum contribution to a 401k is $13k. Now, making the VERY convervative assumption that the IRS has allowed that limit for the last 33 years (John's years of service), that would add up to be about $429k. Go figure!
The information I posted is available in the SEC filing Form 4 dated May 5,2004. It shows the shares of stock as indirect ownership and shows them in the 401k.
The compensation is available at the Forbes website. It shows the individual years compensation and then gives a five year total.Take the 2001 compensation and then figure what the shares of stock are worth at yesterday's close and subtract the values for the million dollar difference in value.
The 2004 proxy material states JAA has 33 years of service for the retirement program.
I just found it interesting that he says his 401k is all in BBT stock, he has 33 years of service, but yet his 401k was not worth even as much as the average of his last five years compensation.
Take a look at your own 401k, the years you have contributed and what the value is verus your current compensation and I think it will be obvious what I'm trying to tell you.
On the price move today, wonder if the company is in the market. I think they still have a buy back program in place.
Your for better investing,
Where do you get figures on JAA's 401(k)? He has said his 401(k) is in BB&T stock but where does your million dollar figure come from? I thought 401(k) reports were not public. I don't know what his contribution is but 16% is the max for employees and some set aside 16%.
I'm not a conspiracy theorist and believe what I hear with my own ears if I trust the source & I know enough to trust what JAA tells investors. I'm comforted as a s/h that he and execs and employees have as much wealth invested in the company as they have.
If I wasn't, my style would be to sell and find a CEO I was comfortable with. But everyone has to make their own choices.
FWIW, my retirement is benefitting from a 16% contribution to 401(k) for a number of years.
Nice to see the price move so far today.