Penny may not seem big to you but ito some any increase is big and even more so if you have a number of shares. I never scoff at any dividend increase..
I don't have a clue either. Here is a company with no debt, a lot of cash and some wonderful numbers regarding their oil reserves and the stock just hangs there going nowhere. It beats the beejeebees out of me. I like GTE but it does try your patience.
What if any effect will the death of Mr. Hermance have on the merger? It has been reported none but I wonder how much he was involved in the details of not only the merger but their new plans going forward, any opinions?
Any opinions on the impact this latest miscue by MTB will have on the merger? At this point I wonder if this merger will ever happen and if so what that will mean to HCBK stockholders after this length of time. The delay is a result of MTB's problems so if HCBK wanted out of the agreement I would think you could make a case that they would not be responsible for the termination fee and MTB should pay it. But, of course, legally this may not be feasible, I'm not a lawyer so what do I know.
HCBK has some new plans for the bank and with the economy getting a little, and I mean little, better , interest rates perhaps on the rise next year going alone might not be such a bad idea. What do you think?
Did anyone attend the stockholders meeting yesterday? Unfortunately I had other appointments and could not attend. If anyone went would appreciate a look into what if anything went on or what was said. Also what about this go alone plan that Hermance said is going to be implemented his Plan B. It has been reported that they will hire additional personnel and expand into other operations. I wonder if this is all talk and no action like when he said they were going to expand into Florida, never happened. Originally thought that he was a good CEO but the last few years WOW Nothing. Then this deal comes out of the blue right after he came back from medical leave, how long were they in merger talks and who was doing the talking for HCBK.
Anyone read the article in the WSJ yesterday about bank mergers? Tried to buy the paper and none of our local stores had copies ( had bad storms here and some flooding so maybe deliveries were not possible don"t know). Was interested in what was stated in the article regarding the mergers and if anything in particular was related to HCBK. If anyone has any info would appreciate it being posted, thanks.
Well here we go again , stockholders take the hit. They missed by 1or 2 cents and then they reduced the dividend. Let's see if Mr. Hermance and the other executives reduce their salary and parachute pkge by 50%, I wouldn't hold my breath for that one. They took risks with the balance sheet and didn't do anything until they were forced to restructure. Stock will no doubt go down tomorrow unless The Street thinks that this was a great move and that the miss was not that bad. Any other opinions.
Did anyone attend the stockholders meeting today? The merger vote passed I assume but I was wondering if anyone voiced their opposition against the merger and especially the compensation packages for Hermance and the other executives. Wish we could have attended but not possible.
Did anyone listen to the conference call that MTB had today? We did and they seem to be OK there were alot of questions regarding HCBK & the merger.They reiterated that both parties were anxious to continue the merger & seemed to indicate that it would go thru. The problems seem to be with MTB's procedures re: money laundering etc. and since they don't have international transactions etc they just have to get their act together. Seems like there are more and more regulations these banks have to comply with and it is a pain in the neck. The procedures they have shown the regulators don't appear to meet the rules I guess. Anyone attending the stockholders meeting? We voted no on the merger and feel that HCBK could do much better.
We are also voting against the entire ballot. The only ones making out are the executives, am disappointed in Mr. Hermance. When we bought into HCBK we felt he was good for the bank but lately it seems as if he is out or himself and not the stockholders, are we wrong in this impression?Received a call asking us if we were voting and had any questions told her we had not read the entire pkge yet but was not satisfied with the golden parachute or the M&T offer,but we would be voting.