What will be the excuse this quarter?
7 replies (most recent on top)
The plan is the Board of Directors. It’s the CEO’s job to execute. So if you want put blame, you need to blame the BOD.
BNY Mellon reported earnings of $1.07 per share, or $1.0 billion, up 1 percent from the third quarter of 2018. Income down, but expenses more so, hence the improvement.
Good for shareholders but unfortunate for workers, since this supports company actions that hurt us.
The Bank spends 110% of the perpetual windfall received in the 2017 Tax Cuts and Jobs Act yet still manages to post record losses even as direct competitors post earnings. The Federal government should not be subsidizing failed companies.
Looking at BNY Mellon’s price performance, its shares have lost 6.3% so far this year against 16.2% growth recorded by the industry it belongs to.
Tough to call it anything but what it is: managerial insufficiency.
Oh I forgot Brexit, China trade war global warming, upcoming presidential election, daylight savings time... any other excuses? Russia, Ukraine. Think that covers all excuses
Time to let all the bad news out and the blame goes to the outgoing CEO. This way the new guy gets to start fresh with no baggage. Also an easy excuse to make cuts.
Inverted yield curve, Charlie’s departure, Trump. Losing customers, high cost of Greenfield .... target rich environment for excuses