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As most footnoted regulars know, I have a soft-spot for Florida banks, probably because I spent several years early in my career chasing them down and know how dumb some of the folks who run these banks can be, especially when it comes to real estate. (Coast Financial, by the way, was acquired last summer [...]
Two months ago, Washington Mutual (WM) came under fire for trying to shield its top executives from the subprime crisis that has sent the stock down nearly 80% over the past year. At the company’s annual meeting last month, there was practically a revolt and the company wound up reversing its policy on bonuses. Fast [...]
While I’ve yet to see research on this, there simply has to be an inverse relationship between the number of club memberships and luxury cars an executive of a publicly traded company belongs to or drives and the stock’s performance. Vineyard National Bancorp (VNBC), which filed this 10-K yesterday, is simply the latest in a [...]
Last Tuesday, we footnoted about an interesting disclosure in Wachovia’s (WB) 8K announcing first quarter earnings. There was new language about a potential restitution involving a former Wachovia customer called Payment Processing Center that had bilked lots of people — many of them elderly — and that at least some Wachovia executives seemed to know [...]
Here at footnoted, we’re all about better disclosure. But as with most of the other good things in life, there are certain times when there is simply too much of a good thing. Take the proxy statement filed by CVB Financial (CVBF) last week. In a footnote to the “all other compensation”, the bank disclosed [...]
