Unfortunately, I don't think people are exaggerating at all when they call this place a sinking ship. However, is there any hope that things can be fixed? I don't see a way anymore.
18 replies (most recent on top)
Grasshopper, when you can sn---h the Balance Sheet from my hand and understand it soon it will be time to leave.
@ezzu, where do you think we get the billions we spend on share buybacks and dividends? Since you think you're the next Charlie Munger, why don't you disclose how much you think we make?
You have a vivid imagination.
If we made $4 billion in earnings yearly we would be buying banks, not laying off.
Having issues counting zeros?
I will only confirm that it was in Pittsburgh.
Anyone else wondering who they are referring to in the comment in this thread about….BNY Mellon was sued by a former managing director that was fired for going to strip clubs. Who was it?
@blwf, dude,
revenue = revenue. We have about 4 billion in revenue per quarter.
earnings = profit. We have about 1 billion in profit per quarter.
Please retire already.
Dude, there’s a bit difference between revenues and profits… a nagging thing called expenses. Use your RSUs to get engaged and learn. You’ll find that you can understand those big complicated words and you might be making sense before long.
I think we need to merge with OceanGate Inc.
@6uzc, are you really that clueless? Here are the facts right from the horse's mouth.
BNY MELLON REPORTS FIRST QUARTER 2023 EARNINGS OF
$905 MILLION OR $1.12 PER COMMON SHARE
https://www.bnymellon.com/content/dam/bnymellon/documents/pdf/investor-relations/earnings-press-release-april-2023.pdf
And it would have been more if we didn't take a hit for severance expense which you claim will help my company.
For the supposed billionaire who can’t understand an earnings statement
NEW YORK
April 18, 2023
NEW YORK, April 18, 2023 /PRNewswire/ -- BNY Mellon (NYSE: BK) has reported financial results for the first quarter 2023. The company's earnings release along with the quarterly financial highlights and other earnings-related documents are available at www.bnymellon.com/investorrelations. Management will host a conference call and simultaneous live audio webcast at 10:30 a.m. ET today. This conference call and audio webcast will include forward-looking statements and may include other material information.
Conference Call and Audio Webcast Access
Investors and analysts wishing to access the conference call and audio webcast may do so by dialing +1 800-390-5696 (U.S.) or +1 720-452-9082 (International), and using the passcode: 200200, or by logging onto www.bnymellon.com/investorrelations.
Conference Call and Audio Webcast Replays
An archived version of the first quarter conference call and audio webcast will be available beginning on April 18, 2023, at approximately 2 p.m. ET through May 18, 2023, at www.bnymellon.com/investorrelations.
About BNY Mellon
Established in 1784, BNY Mellon is America's oldest bank and the first company listed on the New York Stock Exchange (NYSE: BK). Today, BNY Mellon powers capital markets around the world through comprehensive solutions that help clients manage and service their financial assets throughout the investment life cycle. BNY Mellon had $46.6 trillion in assets under custody and/or administration and $1.9 trillion in assets under management as of March 31, 2023. BNY Mellon has been named among Fortune's World's Most Admired Companies and Fast Company's Best Workplaces for Innovators. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation. Additional information is available on www.bnymellon.com. Follow us on LinkedIn or visit our Newsroom for the latest company news.
Actually, @5qhc, I'm ALREADY wealthy and I own WAY more shares than I should. If you had more than an hourly paycheck on the line you'd realize our earnings are about a billion dollars on four billion of revenue per QUARTER. No wonder you're still working in your 70's, boomer.
In the first place, your 4 billion dollars a year number isn’t even close to correct. Further more, the number is for revenue, not profit. Working at a custody bank of all places, it’s difficult to figure out how you were hired without even understanding basic business accounting coursework.
Finally, it is not up to you to decide if earnings are enough… that’s up to our shareholders because they are our owners. You likely have RSUs which were a generous free gift to all employees. You could use this generous gift to learn more about building wealth and investing or you can squander it.
If you haven’t already liquidated your gift you could go to the annual meeting and be a gadfly shareholder who questions everything and demands answers… with even one share. I’ve worked in Custody since 1982 and have seen it all at Annual meetings. Every company has their aggrieved gadflies who attend every year and harass management. Many of the wealthiest make travel destinations around their annual meetings.
But with one solitary share you can harass them. But if you sell then you have nothing to say and you have no opinion.
@4xij, you don't think 4 billion dollars a year is acceptable profit? Not to mention that canning people only temporarily increases profit. We'd be much better letting employees increase efficiencies and make us money instead of paying them to do nothing for 8 months.
Of course. Layoffs until profits are acceptable again.
I know this dude and his long time companions and have seen the gang in action. The Bank should have axed him long ago. The lifestyle also caught up with him and destroyed his work ethic and judgement long before this occurred. His disintegration was striking.
BNY Mellon was sued by a former managing director who says the bank’s justification for firing him—that he went to a strip club with his co-workers—was a pretext for s-x discrimination.
It’s not a sinking ship. It’s a ship with a crew that has mutinied against our owners… taking a stand, standing on shore & refusing to reboard.
The owners will win of course.
OK, OP you are venting and that's OK. I am not sure if the rest of us can benefit