| Topic Name: |
liz ann sonders |
| Message Name: |
Oh please! |
| Date Posted: |
01/26/2006 |
| In Reply To: |
Yo crybaby,
Having seen your blubbering over and over again on this site I just have to wonder who you are? Did I take an elevator with you or sit near by in the cafeteria? Hard to imagine I would not remember someone gently wiping a tear from their eye as they bemoan the horrible unfairness of their job at the firm.
Which "crony" is it that gets your goat the most? I'd at least like to think you're putting tacks on their chairs or stuffing the shrimp special in their office heat vents just to strike a blow for equality.
You really need to do yourself a favor and take that job at Starbucks. Maybe all that positive attitude in the coffee house will brighten your perspective.
Regards,
Happy ex-USTer
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| Message: |
Your post reflects more of a personal interest about whatever is getting said in and about U.S. Trust.
Ex-UST-er? Then why so critical of commentary about it??
Here is a fact. Liz's husband worked for Soundview. Next, Schwab paid a lot of money for Soundview. Then, it was decided that Soundview was a dog, and it was put down for a loss to Schwab (a substantial loss).
Liz's husband was a partner at Soundview. And no doubt got a lot of Schwab money on the purchase.
Schwab overpaid.
This means the Sonders household has that money and not the Schwab shareholders. (Of which I include myself.)
Now they are going to parade Liz around as trustworthy? What about Soundview? What did she have to say about Soundview?
Then, second, about the Campbell Cowperthwait career within U.S. Trust: pumping up "New Economy" stocks in 1999, when it's clear that the better money managers avoided that whole avenue.
The hypers of that era are generally laughed at today. But again, for some reason we are supposed to suspend belief.
I'd like to know what her mug shot on the website last year brought us in. If it was a ton of loot, why is her picture gone?
Separate from Sonders, let's talk a little about other Schwab screwups:
Remember those three NYSE seats Schwab owned. They sold them for something like $1 million a piece. The low price in the cycle. ArcaEx came along a few months later, did the deal with NYSE, and each of those seats is the equivalent of what, $4 million??!!!
And that does not include the mysterious FOURTH seat, that Schwab controlled, through family ownership from an executive in the UST Securities. (The executive allegedly loaned money to a son to buy the seat, then they sent U.S. Trust trades through the seatholder's trading firm.) No one quite knows what was going on there.
We can go through the fact that ex-executive Noland Chang basically hired his downsized Lewco Securities underlings into the firm, at a time that Chuck was laying off similarly qualified Schwab and U.S. Trust employees. I don't know if that sounds like tacks on chairs to you.
It's apparent to everyone except that Schwab spinners, that Schwab is still a mess. Clearly, the market understands that. Which is why SCHW is underperforming both ET and AMTD.
Attacking the messenger is a strategy that won't work here, I am afraid. Too many people already know too much of the bad.
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