Ticket Charges at Wachovia/Wells
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We recently issued 2.7MM shares which increased our float 10%. Naturally employee positions went down roughly the same. Only 16 employees represent the 8% ownership. There are 4000 other employees who make up the difference. Our 401k, ESOP and deferred is not custodied at Stifel for employee protection reasons. All the firms did that after Enron. So some of that Institutional percentage is employee ownership. It’s true, we don’t own 49% anymore due to the 2.7MM additional shares, but it’s still the high 30’s.
What ?!?!? The shares are held outside of Stifel so they don't count ? I don't think you are a Broker. " All the firms did that after Enron" that is not something an advisor would say.
What !? It's true we dont own 49% but we own 30 something even though the facts show 8 ??? Who are you and does any one really know the SF story ?
[quote=Stifel Nation] We recently issued 2.7MM shares which increased our float 10%. Naturally employee positions went down roughly the same. Only 16 employees represent the 8% ownership. There are 4000 other employees who make up the difference. Our 401k, ESOP and deferred is not custodied at Stifel for employee protection reasons. All the firms did that after Enron. So some of that Institutional percentage is employee ownership. It’s true, we don’t own 49% anymore due to the 2.7MM additional shares, but it’s still the high 30’s.
What ?!?!? The shares are held outside of Stifel so they don't count ? I don't think you are a Broker. " All the firms did that after Enron" that is not something an advisor would say.
What !? It's true we dont own 49% but we own 30 something even though the facts show 8 ??? Who are you and does any one really know the SF story ?[/quote]
Redpen, you're not very intelligent are you? I guarantee your 401k, deferred, options and ESOP are custodied somewhere outside of your firm. Which is an Institutional account. If you were a smart broker, you would know the definition of Insider. Yes, Yahoo Finance says INSIDERS own 8%. There are 4000 Stifel employees who are NOT insiders.
Stifel, you are right . I am not very smart, but smart guys like you can help. Thanks for getting the facts straight for me. I understand. Sorry about the mix up.