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  • readum98 readum98 Jul 31, 1998 11:30 AM Flag


    John Allison will get an offer he cannot refuse.
    The franchise is too valuable to a bank from outside
    the south. The middle atlantic is one of the crown
    jewel for any bank serious about being there in the

    The CEO can't just say I do not feel like selling.
    His ultimate responsibility lies with the
    shareholders. This fiduciary responsibility goes beyond
    anything he owes employees or community. As premiums get
    "stupider and stupider" it will be harder for Allison to
    just say no. Besides, with his rep in the industry, he
    doesn't even have to worry about losing his power.
    Probably would be heir apparent to whichever older CEO
    bought him out.

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    • I disagree with you Mr. Readum.

      fiduciary responsibility is to the owners of BB&T. Who are

      Shareholders of course.

      Who are they? Instituions,
      individuals, employees, you, me...

      My question Mr.
      Readum is has John Allison received a mandate to sell
      the bank from the shareholders?

      Of course not.

      Mr. Allison is expected to grow the bank and
      provide nice returns to the shareholders. And he has done
      this. Mission accomplished. The stock price is
      indicative that this approach is working.

      By selling
      BBT, we the shareholders are being notified that our
      future will be gambled with another company unless we
      sell our shares. Thus, Sun Trust-Crestar. Poor Crestar
      shareholders. What uncertainty when there shares had just kept
      going up. This could happen to BBT shareholders.

      But we are happy. Therefore, Mr. Allison is obligated
      to continue on his path that we have sent him on.
      Nobody is disputing otherwise right now.

      Just an
      old man's opinion.

      Dr. JunJun

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