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BB&T Corporation Message Board

  • worrywarthog worrywarthog Dec 17, 1999 10:44 PM Flag

    Not so subtle hint:

    From a story on CNBC's website: "Edward
    Crutchfield, First Union's chairman and chief executive, has
    acknowledged his disappointment with the company's performance
    ... He won't receive a stock or cash bonus for 1999.
    About 250 senior employees at First Union also won't
    receive a cash bonus.

    "'It's the honorable thing
    for management to do, when the company and the stock
    hasn't performed up to expectations,' said [a major

    Applicable to BB&T? You bet.

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    • In this season of peace and harmony, I started
      not to challenge your suggestion that BBT management
      didn't deserve year-end bonuses this year. I own BBT
      stock am not employed there. IMHO, BBT management has
      turned in another fantastic year (in contrast to FTU).
      Stockholders must be prepared to endure "market risk," meaning
      that all bank stocks have suffered from the fear of
      higher interest rates - don't look now, but "market"
      rates on LT bonds have already risen a bunch! The old
      adage that "stocks tend to fluctuate" is still true;
      don't hold management responsible for market gyrations.
      Also, IMHO, incredible loan credit problems are still
      being discovered at FTU's "Money Store" - I say that
      BBT management has proven again its superior ability
      to run a banking franchise. The price may decline a
      bit more, but I'm taking advantage of this buying
      opportunity to accumulate BBT shares. Sincere best wishes to
      you and yours this special season and for the new

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