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Another bank having fun with our money?

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TheFallen On February 28, 2009

Banned



, Canada
#46New Post! Feb 27, 2009 @ 15:50:10
Boxerdc and jonnythan

should just get a room and get it over with
squirt_aka_casey On April 21, 2018
BCW-Ant Destroyer





That place, Ohio
#47New Post! Feb 28, 2009 @ 01:17:15
@boxerdc Said

Sorry Casey, No jobs right now.
We've made a promise of absolutely no layoffs and no cuts in benefits, but we're not replacing people who retire, or leave of their own accord. We're expecting our income to be flat until the second half of next year, and we projected a 9% loss for last year, so the money to hire new people isn't available. We don't expect significant growth until 2011.
Wish I could be of more help.



Awe.... no big anyhow.
fractal7221 On November 08, 2012




Hubbard, Ohio
#48New Post! Feb 28, 2009 @ 02:35:29
@boxerdc Said

I really think that the banks should be acting frugally. If they want to woo rich clients, do it at home, not at some country club. When they travel, they should travel business class. And rather than spend my money buying each other, they should be investing in solid properties, and selling off foreclosed homes at reasonable prices, so that owners can pay mortgages on them.


I work for a bank, and trust me, were not looking for new and creative ways to waste money. We're trying to be as frugal as possible, but our stock price is lower than ever now. Our price was around $14 before the whole crisis, it dropped to $10 after we announced losses. After we announced our recovery plan it has dropped to $5.50.

Some of the changes we've made:
* No raises for anyone, even the tellers making under $10/hr.
* The work week for full time hourly employees is limited to 37.5 hrs.
* Part time employees cannot work more than 25 hrs per week.
* Exempt salaried employees are expected to work 5 to 10 extra hours a week.
* We cut our dividend in half (major catalyst for the drop in stock price).
* Required all employees to sign up for E-statements, and insisted we bug customers to do so as well to cut down on postage.
* Expected performance standards have been raised to levels beyond the ones we had when the economy has in better shape.
* Raised or added fees to nearly everything (those free checking accounts you keep $50 in actually cost us more than we benefit).

So far the results have been a $4.50 drop in stock price, a higher employee turnover rate (including our CEO who quit), and customer frustrated with higher fees and additional product offers.

These stories of lavish bank spending do little but stir up people's emotions to get them angry at the banks. If legislators really cared about banks not using private jets or throwing parties, they could have added those provisions to the loans to begin with. Plus legislators condemning banks (or pretty much anyone) on fiscal responsibility is about the most hysterically ironic thing I have ever heard.

These stories are all to set the stage so people will be more willing to support higher taxes on the rich and on businesses, and pave the way for more regulation that serve only the interest of the government.
sAeGeSpAeNe On October 05, 2021
Part-time Nidologist





The other Bristol..., Connecti
#49New Post! Feb 28, 2009 @ 03:10:52
@fractal7221 Said

These stories are all to set the stage so people will be more willing to support higher taxes on the rich and on businesses, and pave the way for more regulation that serve only the interest of the government.


One slight correction! The increase in regulation(s) will only serve to further the interests of socialistic liberals, and expand the role of government.
squirt_aka_casey On April 21, 2018
BCW-Ant Destroyer





That place, Ohio
#50New Post! Feb 28, 2009 @ 03:16:41
@Saegespaene Said

One slight correction! The increase in regulation(s) will only serve to further the interests of socialistic liberals, and expand the role of government.



But hasn't the lack of regulations just forced more need for socialistic solutions because the inability of those who do not have inherent wealth to get a grasp on just enough to work for their wealth?
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