Lipstick on a pig?
10 replies (most recent on top)
So much for all the layoffs people were hoping for LOL!!!
A rising tide lifts all boats including our sad & leaking dinghy…
Portney isn’t even close to being qualified for the job. But that’s been true of a long line of CFOs here over 2 or 3 decades. One could argue that it’s not even a needed job here as a transaction processor.
Bank earnings look good across the board, mostly due to interest rates. BNYM is not special. Robin got lucky with timing.
Robin needs to clean house - Regelman, Portney and Engel need to be dumped asap. Managed stagnation is all they are good for.
The market is responding well. Overall markets are up, it our stock is up more than markets. Good for us.
This is because of the lack of needed layoffs during the Todd era. Profit = Revenue - Expenses. Todd was too kind to layoff and Robin does. Ot want to lead with it.
At 10:38am EST, BK is +6.24%... Maybe the market is giving more credit to the disclosure of goodwill impairment charges than profit numbers, given what may come in Q1 2023...
He should fire the Chief Growth Officer.
The CEO's write up this morning in his email spoke highly of everything. revenue is up 6% - but fails to mention that profits (remember profits? this is important but apparently executive mngt doesn't seem to care about that) are down roughly 60% as compared to Q2 2022 and Q3 2021. WOW. That is not good.
I believe the market today will pummel our stock. How low can it go? We shall see.