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  • scarbrobill scarbrobill Oct 11, 2011 11:11 AM Flag

    What this board needs!

    This B of D's need to take a lesson from BAC. BAC fired two top executives, severance pay for one was $5 MILLION DOLLARS, THE SECOND WAS $6 MILLION DOLLARS.
    Board members need to be more intelligent. These types of contracts to me reek with collusion.
    Stock holders it is time to elect B of D's that are both honest and intelligent. Honest is not enough.

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    • If they took the huge gains they had built up on their investment securities in the 3rd qtr, they pass my intelligent test. Last year bbt realized gains on their investment securities of $585 million. This year it's been minimal but yields did not get sliced in half until this last qtr. Taking the gain imo, is critical. It's a big deal. Get that tangible book value up and make the market pay fmv for a very solid bank.

      They did hedge their high cost $3.2 billion trups so when they announced in March early redemption, bbt got to amortize the hedge gains in 2011 through 2013. Appears to be the major driver in the reduction of their cost of long term debt from 3.97% 1 qtr to 3.15% 2 qtr. Very nice.

      Suppose it does not matter that the top 8 insiders own almost 6 million shares.

    • Intelligent board members? Most corporations don't allow shareholders to vote against a director being re-elected. It's either for or withhold. It appears that if every shareholder, except a director, voted to withhold their votes for him, the director could re-elect himself. If I had my way, I would not let corporate officers determine director remuniration, nor would I allow directors to establish bonus goals and officer salaries. It's now a you scratch my back and I'll scratch yours and let the shareholders be danged.

    • Intelligent board members? Most corporations don't allow shareholders to vote against a director being re-elected. It's either for or withhold. It appears that if every shareholder, except a director, voted to withhold their votes for him, the director could re-elect himself. If I had my way, I would not let corporate officers determine director remuniration, nor would I allow directors to establish bonus goals and officer salaries. It's now a you scratch my back and I'll scratch yours and let the shareholders be danged.

 
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