to sc--w stockholders. 13 % price drop in 5 days. You defenders will say market economics are to blame, nonsense! If they had built the franchise and gotten the stock to a level it should be this would be a blip, it is not. Remember PNC as a regional competitor close to us has grown and more than doubled their share price last 5 years. I wonder if there’s any angst in the C suite or by this Board? Probably not.
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Down 20% in 10 days
Down, down, down. The puckering sound you hear is the spincters of executives who report to Bill wondering who he serves up next for being the problem.
My frustration as a shareholder has nothing to do with a snap 13% drop when all banks were hit. That can happen to anyone. It is the entirety of the six year period since the merger. Truist is in a great geographical footprint, and was set up with a lot of tailwinds to be a solid bank.
We were promised the best of both banks and a technological leader. We got terrible customer service rankings, large customer attrition, disgruntled employees, weak technology, and stock under-performance against most competitors. Truist has faded into an afterthought.
Looking back, the stock was trading in the $56ish range at Jan. 2000 merger and it is now at $50. Bank of America was $30 at that time and now it is $50. Wells Fargo, who has had their own issues, was at $54 and now they’re at $83. And on, and on.
I see nothing about Truist that could lead any objective person to believe it is a well run bank. And yet, here we are, with apparently no real expectations put on an executive team that continues to enrich themselves while performing at this level.
What am I missing?
@hp Really shows that they are more of a parasite to customers and investors than an enhancement.
If all this maneuvering is required to keep your spot, what does that say?
It is obvious that nothing is based on financial acumen or performance here, just back stabbing and privilege
@hp Agree they need to sell and stop the madness. Growth market geography, decent business mix with a massive brokerage arm and distribution channels. But the big four can’t legally get any bigger, which leaves regionals like US Bank or PNC as a true buyer. PNC CEO has said he “won’t buy a broken franchise” (no mention of any specific bank), and they’re in the middle of expanding out west. Canadian or European is interesting but given current regulatory administration an “America first” mindset might prevent that. Third option is to just break it up and sell off the parts, which creates the most value but Bill’s ego won’t let him do it. Here’s my prediction (and I said this months ago): Amazon. MAYBE Berkshire Hathaway. But I think “Amazon National Bank” has a nice ring to it….
No vice chair, no COO, it appears Bill and his BOD have intentionally not created a line of secession. Why? It makes removing Bill a much harder task. The board can’t even back channel with outsiders without Bill being aware. I agree he is going nowhere anytime soon and neither is the bank. Is it possible that they believe they are positioned to be bought by a larger entity or perhaps a Canadian bank and that is the end game? There is certainly no one in the current executive leadership that can become CEO.
Different reason but same situation as wells 10-12 years ago. Needed a total re-do, and faked one for a while. Then brought in Charlie from the outside and look at them now. Bill DOES need to go, and not be replaced by any of his underlings. First Union, (new) Wachovia, Wells, BBT, Sun….. all taken to the top by the economic market, not their leadership. Time to move on. Completely.
Teammate, I need you to lean in, play offense, and do it with unwavering care! I know many of you are already doing this, but many are not. I need my faithful servants to report those slackers to management. Don’t worry about the extra work, we will consider eventually replace them with BOA, Wells, and Chase outcasts. Those of you that came from SunTrust know how amazing I am! And the thought that my executive team and me could actually be blamed for the total failure of this merger just leaves me speechless! Your jobs are on the line too! Faithful Servants, together we are Unstoppable!!
Bill is not going anywhere, if he hasn’t been removed yet, why would they now
It will be interesting at the board meeting and vote in May. In 2025, the say on pay from the bod to Execs compensation voting fell to 59%. 70%+ is usually a benchmark on confidence in exec compensation for financials. In 2024, it was 88%. Everyone is tired of Bill and these incompetent dopes. Bill and these id--ts will HAVE to have a strong first quarter or it will be over.