Startled to learn the JSMF has named Penny Pennington to its board of directors. She is being added to “tap into her knowledge to help give more opportunities to underserved communities in St. Louis.” This is the same woman who has laid off St. Louisans who make her millions and sends their jobs to India. Penny is creating underserved people with less opportunities in St. Louis. I cannot believe the JSMF has named her to their board. The JSMF used to be a great organization which fostered American values for Americans, not sending resources out of the country. I will no longer be contributing to the JSMF as I am severely disappointed.
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@dj yep. All signs point to some kind of a merger with a large bank close to new york. Penny wants to be in good with that club and chubakka has no intention of leaving NYC to live in flyover country or the desert. They wont call it buyout or merger though, they will try to pawn it off as "strategic partnership" in order to "remain competetive for 100yrs". What's going on right now is we are p*mping ourselves out to the market hoping somebody likes the numbers on paper we have to move forward. This is also why the GPs got axed over the summer who would maybe fight against it. Also why penny changed rules to have 50% GP sign off on any would be mergers or buyouts, 5 seconds after she told us we would never go public. So yeah, they are lying to our faces at this point and insulting everyone's intelligence.
This is a brave new world EJ is ushering in (sarcasm). We used to play the long-term game in order to thrive for over a century. Penny has decided to make the short-term balance sheet look good which makes us the same as every other run of the financial services company. We soon will be susceptible to a buyout which will end the run that Ted set up and the legacy that he left for all of us to inherit, not just Penny.
@OP , she was on the Board with the FRB Stl. Her last day was 12/31/2025.
Sorry...
Failing upward appears to be the only way to get ahead these days in white collar world.