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Despite strong performance, BB&T will not pay bonuses to members of executive team
http://finance.yahoo.com/news/Despite-strong-performance-prnews-14212733.html ^
Posted on 01/30/2009 1:42:20 PM PST by jern
WINSTON-SALEM, N.C., Jan. 30 /PRNewswire-FirstCall/ -- BB&T Corporation (NYSE: BBT - News), which earned $1.5 billion in net income in 2008, said today that members of its executive team will not receive annual bonuses under its short-term incentive plan.
"We have traditionally set very difficult goals, and although we are among the top performers in the financial industry in 2008, we did not earn a bonus based on our targets," said Chief Executive Officer Kelly S. King. "This has been an extremely difficult economic environment, even for well-capitalized and profitable financial institutions."
(Excerpt) Read more at finance.yahoo.com ...
TOPICS: Constitution/Conservatism; Front Page News; News/Current Events; US: North Carolina; US: Virginia
KEYWORDS: banking; bbandt; bbt
1
posted on
01/30/2009 1:42:21 PM PST
by
jern
To: jern
Sucks for the people who performed the job duties, but demonstrates sound business decision on behalf of the company.
2
posted on
01/30/2009 1:49:44 PM PST
by
IMissPresidentReagan
(I no longer have a President. I just pray in four years I still have a country.)
To: jern
The old, Moravian values of thrift and ingenuity, formerly exhibited in the banking world by Wachovia (before it was taken over by First Union, headquarters moved from Winston-Salem to Charlotte, and promptly flushed right down the toilet, that is) are alive and well at BB&T.
To: jern
BB&T is one of the few banks that survived the Great Depression. It looks as if they intend to be around after this shakeup too.
4
posted on
01/30/2009 2:04:11 PM PST
by
Between the Lines
(I am very cognizant of my fallibility, sinfulness, and other limitations.)
To: kb2614
BB&T is one of the few banks that survived the Great Depression. It looks as if they intend to be around after this shakeup too. Isn't this your bank?
5
posted on
01/30/2009 2:05:18 PM PST
by
meowmeow
(In Loving Memory of Our Dear Viking Kitty (1987-2006))
To: Between the Lines
BB&T did right by the stockholders. Raised the dividend this quarter.
6
posted on
01/30/2009 2:28:54 PM PST
by
Coldwater Creek
("You cannot multiply wealth by dividing it." Dr. Adrian Rogers 1931-2005)
To: Coldwater Creek
BB&T raised their dividends on the backs of their user/members. I had an account with them because my job wrote paychecks on a BB&T account until the the bank started charging ME to cash/deposit my check! Canceled that account quickly!
7
posted on
01/30/2009 2:49:45 PM PST
by
junkman_106
(The ACLU can go have aerial intercourse with a revolving glazed pastry.)
To: meowmeow
8
posted on
01/30/2009 3:27:27 PM PST
by
kb2614
(Hell hath no fury than a bureaucrat scorned)
To: junkman_106
What can I say? I’ve been a stockholder from day 1.
9
posted on
01/30/2009 3:36:30 PM PST
by
Coldwater Creek
("You cannot multiply wealth by dividing it." Dr. Adrian Rogers 1931-2005)
To: Coldwater Creek
10
posted on
01/30/2009 3:38:55 PM PST
by
AppyPappy
(If you aren't part of the solution, there is good money to be made prolonging the problem.)
To: AppyPappy
Since the initial IPO. About 15 years.
11
posted on
01/30/2009 3:40:54 PM PST
by
Coldwater Creek
("You cannot multiply wealth by dividing it." Dr. Adrian Rogers 1931-2005)
To: IMissPresidentReagan
Sucks for the people who performed the job duties, but demonstrates sound business decision on behalf of the company. No it doesn't, they are very well paid, if not over paid and if they don't like, not getting a bonus, well the front door is not locked.
12
posted on
01/30/2009 3:41:06 PM PST
by
org.whodat
(Conservatives don't vote for Bailouts for Super-Rich Bankers! Republicans do!)
To: org.whodat
Who decides what is “over paid” and what isn’t?
13
posted on
01/30/2009 4:22:35 PM PST
by
IMissPresidentReagan
(I no longer have a President. I just pray in four years I still have a country.)
To: IMissPresidentReagan
The last I heard it was the owners, but in today corporation it is a board appoint by the ceo. Corporations were invented and made legal so that large under takings could be started and the risk spread amount the many investors who would share in the profit if any. Today it is a piggy bank for the management.
14
posted on
01/30/2009 5:16:39 PM PST
by
org.whodat
(Conservatives don't vote for Bailouts for Super-Rich Bankers! Republicans do!)
To: jern
fair enough but from what I know, BBT largely missed the red line home loan debacle
15
posted on
01/30/2009 5:19:23 PM PST
by
wardaddy
To: jern
Definite screw job for these guys who helped generate 1.5 billion dollars in profit. They are entitled to their just rewards.
To: Between the Lines
That’s not true. Most banks survived the depression. 90% of the bank failures back then were the result of other government interference - unit banking laws - that prevented them from opening branches or diversifying their portfolios.
17
posted on
01/31/2009 5:20:56 AM PST
by
Doohickey
(The more cynical you become, the better off you'll be.)
To: junkman_106
I can’t think of any reason they’d charge you to cash a check drawn on them if you had an account there as well.
18
posted on
02/17/2009 9:00:34 PM PST
by
RockinRight
(Now it's my turn to have a psychotic, uncontrollable hatred for the President.)
To: RockinRight
Policy change. Bank is not doing so well? All of the members at my job got the same hit and the CFO was talking change when I left over a year ago. Banks are just in it for the money, you know.
19
posted on
02/18/2009 2:26:57 AM PST
by
junkman_106
(The ACLU can go have aerial intercourse with a revolving glazed pastry.)
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