Asset management is a scale business, and we expect some cost saves. |
First, it is a decent local New York franchise. With the recent sale of North Fork, the retail bank is the second largest regionally based and regionally focused bank behind Commerce Bank. |
The charge for credit cards should help upcoming quarters for loan losses. Also, the company should benefit more than most from ongoing restructuring, including $800 million of remaining merger savings. |
The one issue, the one question that comes to mind, is we need to quantify where the (buyers) are coming from. Some of these units are $1 million and up. Can our work force afford these? We have a crisis of affordable housing in that area already. |
The performance of the Bank of New York's retail bank has lagged, the stock value of pure-plays has increased, and Bank of New York stock has lagged. We sense that the time is right for this move. |
The strongest signs of industry momentum will likely appear mid-March when the brokers report. |
There's a lot of chefs in the kitchen. |
This is one of the most popular stocking sites. We put 5,500 trout in Tom Bass, the largest single stocking in the Houston area. It's a good-sized lake and it can handle quite a bit of fishing pressure. Most sites get between 1,000 and 2,000 fish. |