Thread regarding Truist Bank layoffs

Starnes isn’t “holding anything together” but his paycheck. Starnes is little more than a lackey who traded his friends and co-workers for money at this point. The ONLY reason Clarke works for Truist is Bill and Beau needed someone from BB&T to cloud the reality of a total takeover - and Clarke fits perfectly with his total lack of backbone and willingness to jump the second Bill and Beau need their car washed. If you think Clarke is actually setting credit policy or making big credit decisions, you are naive.

So @5xvk+1iKCuvrT thinks Starnes is holding SunTruist together? The tailspin has been ongoing for all of 2022. You have been reading too many of Kelly’s “happiness tales” my friend. The 32% stock decline says all you need to know with most analysts adjusting their projected high price to under 60$ per share. LESS than the cost per share that was paid for Suntrust in this alleged MOE 😮

Clark is the only thing holding the bank from entering a tailspin. STI does anything to make a buck. When he’s gone, probably by next year, thats when the real problems happen.

I used to think Starnes was a decent guy, but he has had a front row seat to this mess and how his employees were treated…I don’t think he’s decent any longer.

Starnes total compensation last year was 9 plus million. He needed a raise. Had to be sure he makes as much as Maguire.

Yes @2euw+1iKCuvrT is likely correct in this analysis. The fact that Starnes’s elevation to vice chair was only announced through an 8k filing tells you all you need to know. No major press release accompanied his promotion which is unheard of for a corporation of this size. It was almost as if they were trying to hide it from the outside world. Yes an email with this and other changes went out internally but the lack of fanfare to the outside world is let’s say puzzling.

Simple politics. Starnes is being “elevated” to (hopefully) hush the buzz from BB&T shareholders. BB&T shareholders never agreed to buy SunTrust II, and many are livid they paid a premium for what this has become.

Clarke Starnes’ “promotion” is nothing more than a stunt being used to quieten this dissent. Daryl Bible’s “problem” was he had backbone, Clarke doesn’t. BB&T hasn’t finally “won” a seat at the table and Clarke is still a pawn - Bill and Beau are just doing a little window dressing hoping to hide the obvious.

What a couple of jer——s. These clowns are ruining everything. Why not elevate Donta?

Can they share some of that with us little people. The 5% increase isn't enough when I am struggling to put food on the table and gas in my car because we have to go back to work and pay for parking.

So Starnes is co vice chair along with Beau? Could explain why he wasn’t named CFO. This whole thing smells, Bible sudden retirement, Maguire named CFO, Starnes given large role and co- chair. I will say Starnes is a solid credit guy and a smart individual. Is he now in competition with Beau to be future CEO? hBBT vs hSTI could be interesting.

I always hated the bonus structure. The more you make the higher your percentage for bonus. Top dogs look after themselves.

The golden rule: "He who has the gold rules."

Dat's a lot of moolah.