Bank of America shareholder meeting

[CONeal]

Would post this under the meeting notes but there really wasn't any insight gained so far from the meeting.

 

Meeting mainly consisted of Q&A no presentation and 99% of the questions was people bitching about the bank funding coal companies or people losing their homes.

 

Was glad with how BM handled the meeting and stay cool through the whole thing.  I honest can't say I would have done the same thing.

 

Intersting note:  There were 8 cops in the meeting and half of the attendees were protestors with NPA (what ever the hell that means)  at the end they all got up and started protesting.

 

Security was extremely tight to get in.

 

Out of the whole meeting two questions were actually asked that had merit.

 

Sorry but there was no great insight gained from this one.

[nkp007]

Would post this under the meeting notes but there really wasn't any insight gained so far from the meeting.

 

Meeting mainly consisted of Q&A no presentation and 99% of the questions was people bitching about the bank funding coal companies or people losing their homes.

 

Was glad with how BM handled the meeting and stay cool through the whole thing.  I honest can't say I would have done the same thing.

 

Intersting note:  There were 8 cops in the meeting and half of the attendees were protestors with NPA (what ever the hell that means)  at the end they all got up and started protesting.

 

Security was extremely tight to get in.

 

Out of the whole meeting two questions were actually asked that had merit.

 

Sorry but there was no great insight gained from this one.

 

This type of hatred has got to signify some large element of undervaluation. Especially since no one is focusing on the fundamentals (and I guarantee you none of those protestors owns a share of the stock).

 

What's interesting is that I think most of the American public feels the same way about BAC and would rather not own it, based simply on perception.

[CONeal]

I didn't even get into the deomstrations outside the building at 9 a.m. 2 or 3 groups emergered into the intersection outside the building . 

 

Overall I am happy with how BAC handled the situtation.

 

The protestors inside the meeting had to have something b/c it was not easy to get in.  Verifying you was a shareholder, metal detector, and then making sure you didn't fake the armband.

[racemize]

it's not like it is that expensive to buy a share of BAC now.  =p.

[Sullivcd]

NPA:

 

http://www.npa-us.org/

[ERICOPOLY]

it's not like it is that expensive to buy a share of BAC now.  =p.

 

The people of the country should just pool their resources together and plunk down $42b to buy +50% of the company.

 

Then they can install their own management and forgive mortgage debt in excess of $42b for an immediate gain.

 

[racemize]

it's not like it is that expensive to buy a share of BAC now.  =p.

 

The people of the country should just pool their resources together and plunk down $42b to buy +50% of the company.

 

Then they can install their own management and forgive mortgage debt in excess of $42b for an immediate gain.

 

Socialist! (/s)

[CONeal]

it's not like it is that expensive to buy a share of BAC now.  =p.

 

The people of the country should just pool their resources together and plunk down $42b to buy +50% of the company.

 

Then they can install their own management and forgive mortgage debt in excess of $42b for an immediate gain.

 

You would be suprised how many questions were about forgiving their mortgage.  A couple of them didn't even have a mortgage with the bank.  They wanted them to buy it from their lendor and forgive the loan.  One lady actually said this.  I'm telling you it was a circus in there.

[ERICOPOLY]

You would be suprised how many questions were about forgiving their mortgage.  A couple of them didn't even have a mortgage with the bank.  They wanted them to buy it from their lendor and forgive the loan.  One lady actually said this. 

 

That totally rocks!  Will you please buy my loan and then forgive it?

[Grenville]

I'm telling you it was a circus in there.

 

What a waste of valuable time to meet and interact with management...

[CONeal]

There was one question asked by a ML former employee that might be of some interest.  There was a fear that if they divested Countrywide that they would be downgraded by the credit agencies.  Now that BAC has been downgraded do they plan to get rid of it.

 

BM:  (to the extent)  There is no one out there willing to take Countrywide and all if its issues.  They are looking for other ways to deal with the company.  If they could get rid of it they would.

[Grenville]

There was one question asked by a ML former employee that might be of some interest.  There was a fear that if they divested Countrywide that they would be downgraded by the credit agencies.  Now that BAC has been downgraded do they plan to get rid of it.

 

BM:  (to the extent)  There is no one out there willing to take Countrywide and all if its issues.  They are looking for other ways to deal with the company.  If they could get rid of it they would.

 

Very interesting! Thanks.