If every former and current employee contributed to an LLC to buy up Truist shares until that entity gained majority share, they could overthrow Bill and the BOD. Not sure why someone hasn’t started this yet? Seems like an easy answer.
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VERY FEASIBLE!
You could get more investors than just employees. $5k each and start an LLC. You get all the disgruntled former employees plus current plus mad shareholders.
Not feasible. Truist has a market cap of $56 billion. Let’s assume there are 100,000 potential investors (I think peak employee count was somewhere around 55,000). A 50% stake would require every investor to put in $280,000.
At the end of the day, need to board to do its job. Since that isn’t likely to happen, we are at the mercy of institutional investors replacing them. That’s what I don’t understand about the past 6 years - those funds have cost their investors real money by parking it at Truist.
What lessons would you like to share? With majority ownership of common shares, the entity can use its voting power to remove the BOD and therefore remove the CEO.
You would have a little investment from a lot of people. This wouldn’t be all one person. Shareholders and employees would benefit by getting someone who knows how to run a bank and a new BOD?
@@a4+1k980shw3
Yes you would buy their shares….
You need some lessons in common stock and how it works. Lol
What would be the point? If you got that much capital together then you'd have much better options for how to use it.
Except TFC is 75% owned by institutional investors.