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BB&T Corporation Message Board

  • armyperson22yrs armyperson22yrs Jan 9, 2005 7:40 AM Flag

    Wells Fargo and Barclays...merger talks

    <EOM>

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    • My point exactly...Not working for you or me but for institutionals and other block holders.

    • You are correct! I am happy to pay upon request.

    • >> dotcom must really be misplaced. another fine example of opinion being overcome by fact!

      But I'm not dumb enough to bet my opinions on a BBS - witness you still owe me a cold beer from post 9972.

    • >> Your suggestion not only would affect senior management, but would penalize more than 20% of BB&T's total employee base. Lower and mid management employees also receive options.

      Re-read the post. It specifically stated senior management. Let's make a modest start with the top 30 execs adopting this proposal. Would add managerial substance to EVP Burney Warren's "Revenue Enhancement and Cost Management Task Force" which is supposed to save $120 million and bring in an additional $55 million of revenue over the next 18 to 24 months. The employees have already contributed their share of sacrifice to this task force.

      >> Ordinary shareholders ultimately depend on good employees.

      Shareholders focus on competent and ethical management, not employees. Management, however, is life-linked to talented and motivated employees. As former Honeywell CEO Larry Bossidy wrote in Execution: The Discipline of Getting Things Done, a leader's "most important job is selecting and appraising people...and should never be delegated" (Chapter 5 Building Block Three: The Job No Leader Should Delegate - Having the Right People in the Right Place). But sadly, employees have become commoditized by merger-mania management. Today Oracle announced gutting PeopleSoft with 80% of sales and 90% of admin jobs being eliminated. Are any (non-employee) shareholders squawking about this?

    • Absolutely!!

    • dotcom must really be misplaced. another fine example of opinion being overcome by fact!

    • Bad idea. Stocks options are an incentive. Your suggestion not only would affect senior management, but would penalize more than 20% of BB&T's total employee base. Lower and mid management employees also receive options. Ordinary shareholders ultimately depend on good employees. Diluting their incentive in the end affects your investment.

    • I did. Maybe you should take your own advice:

      % of Shares Held by All Insider and 5% Owners: 0%
      % of Shares Held by Institutional & Mutual Fund Owners: 28%
      % of Float Held by Institutional & Mutual Fund Owners: 28%

    • Among other things it would certainly allow Wells an entree to the South without having to put up with placing Southern Bankers on their management team, which is a real ego problem for Wells,comming from Hugh McColl and the BOA/NCNB deal a few years back. Barclays people speak their language..it would be a smart merger for both institutions.

      • 2 Replies to apile_ofit
      • Barclays #1 Institutional Holder @BBT.

        TOP INSTITUTIONAL HOLDERS

        Holder Shares % Out Value* Reported
        Barclays Bank Plc 18,769,776 3.4 $744,972,397 30-Sep-04
        State Street Corporation 15,745,024 2.85 $624,919,992 30-Sep-04
        Vanguard Group, Inc. (The) 11,689,603 2.12 $463,960,335 30-Sep-04
        Branch Banking and Trust Company (North Carolina) 10,482,311 1.9 $416,042,917 30-Sep-04
        Northern Trust Corporation 6,982,458 1.26 $277,133,753 30-Sep-04
        Deutsche Bank Aktiengesellschaft 5,677,958 1.03 $225,358,149 30-Sep-04
        Mellon Bank, N.A. 3,905,119 0.71 $154,994,170 30-Sep-04
        TIAA Cref Investment Management, LLC 3,830,913 0.69 $152,048,934 30-Sep-04
        Calpers (California-Public Employees Retirement System) 2,425,481 0.44 $96,267,339 30-Sep-04
        New York State Common Retirement Fund 2,170,168 0.39 $86,133,966 30-Sep-0

      • John Allison appeared on Public Television over the weekend. He handled himself very well and said mergers of BBT and Wells Fargo were only rumors.

 
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