Bank of America Stock Buy Back

This letter arrived today from Scottrade.


The above listed stock is part of a non-mandatory reorganization or tender offer, which requires your timely attention. For details regarding this offer, contact your local branch office. Please note that failure to advise Scottrade of your intent may result in no action being taken, and we cannot be held responsible for any resulting loss.

If you decide to participate in this offer, you will need to inform your local Scottrade branch office no later than 10 a.m. ET on the expiration date, and a $25 fee will be charged to your account.

These shares must then remain in your account until the reorg/tender takes place (be advised that the expiration due date for such actions is often extended). Please contact us if you have any questions.


From what I can tell they are offering to buy back the stock at a certain price...any opinions???


[edit on 21-2-2009 by ddiamonds]

[edit on 21-2-2009 by ddiamonds]

I think this post is in the wrong forum... Really, I could not think of a worse place for it!

But, there's been many predictions that B of A is going down within like 60 days... Citigroup included. Good luck.

i post it in wrong forum and don't know how to change it. Maybe someone knows how to fix it....

reply to post by ddiamonds


I'd look for a MOD online at the moment and send them a U2U...

actually, it has to be a supermod I think...

Is this considered off topic if its a question about an off topic forum discussion? LOL

How would I look for a mod? I don't have any idea how to do such. Thanks for the idea...

reply to post by LostNemesis


Actually it's the perfect place for this op, especially when it comes to Europeans and Americans. A low key quick move to remove stocks of a major bank that is claiming it is fine but looks like it is getting ready to fail. In the western world money is the religion you devote your lives mandatory 40 hours a week for your entire adult life of mental and physical ability to do so to the pursuit of money. conspiracy and religion it is in the right spot trust me.

actually, you could prabably use the "alert thread" on the top of the screen here... and when it asks for a discription, it'll go to the super duper secret mod forums...

hopefully they'll see it and move it if thats what you want...

Actually, methinks this is one of the trigger companies that will begin the nationalization of some of our biggest banks.

BAC has investments valued at over 5 times it's current market cap. Tell me how that makes sense, unless of course we are witnessing one of the biggest wealth transfers ever in history.

reply to post by ddiamonds


the memo calls it a notification of Tender Offer...

which could mean they are issuing warrents
but i fail to see how it means they will be buying outstanding shares.


it would seem BofA, wqould approach the institutional holders
since they hold a large number of outstanding shares...

lets see what the key statistics say: finance.yahoo.com...
o.k., theres 5.02 billion shares outstanding & 46.10% are held by institutions (funds, corps, etc)


& i can't make heads or tails of the $25.00 fee that 'Scottrade' will be charging if you reply ib the affirmative....
~would that charge be for the cost of selling your shares back to NYSE: BAC ? ~


i'd suggest the e-mail/or Letter... is a hoax

[edit on 21-2-2009 by St Udio]

reply to post by Anonymous ATS


whoa there... not all Westerners worship money...

many of use over here actually identify with the cliche "money is the root of all evil".

pretty bold sweeping statements to be making... especially from an anon poster...

My dads wife is a VP at Bank of America......they will be hit hard if BoA goes in the toilet.

double post

[edit on 21-2-2009 by PokeyJoe]

reply to post by St Udio


Actually BofA has been buying back stocks for quite a while now... they put the buyback program in place last january...

The idea being they can raise the return on investment, and inflate their stock prices on the NYSE...

Stocks do this all the time...

Originally posted by St Udio
i'd suggest the e-mail is a hoax

I know for a fact the email is not a hoax.

This was not an email its a letter in the mail from Scottrade. I assure you its no hoax that I got this letter. I google this and it seems a number of other people have gotten the letter as well. I called a friend of mine who is a stock broker and he told me his computer says its an offer to buy my stock back from me he thinks...

Originally posted by ddiamonds


. I called a friend of mine who is a stock broker and he told me his computer says its an offer to buy my stock back from me he thinks...

It all sounds vague to me...
Your brokerage issued a letter saying BAC was offering to buy-back shares of stock...

Was there a price stated... or is it a secret that only a personal visit to your broker can say what they are willing to pay?

there's a potential conflict being played out... first there's rumors
of BankAmerica a possible 'Nationalization' target ->> Then on the heels
of that blurb, we hear that BAC is conducting a massive buy-back campaign.
?Who started or perpetrated the nationalization/take-over/collapse rumor?
?would that rumor effect stockholders response to sell quickly, at any offer?

hmmmm.....


most ethical enterprises go ahead and Suspend things like trading or buy-backs whenever there is overt market pressures... pressures like panic, rumors of seizure, or nationalization, etc

[edit on 21-2-2009 by St Udio]

reply to post by St Udio


hehehe but honestly.. have you ever banked with BofA?

There's nothing ethical about em...

The head dude of BofA came out and said the bank can "go it alone" and not to worry about nationalization... this was about 18 hours ago...

I don't think they would have shaken up the markets by starting a rumor...

What I see, is the Gov't telling them to try this buyback before all the "preferred stock" the government owns goes to crap..

They may be trying to minimize the dollar loss before nationalization or something as well...

Think of the political consequences... B of A had taken TARP funds 2 or three times already... and if they fail, or go national... it would be a political disaster...

Some politicians somewhere want their jobs next election and are trying to save their butts IMHO.

I know it sounds vague that's why I made the post. The letter as you can see does not state a price or anything. I am simply saying I called a regular stock broker I know to ask if he knows anything about the letter> I will call scottrade on Monday to see what they want. If I knew more I would post it that's why I am asking for opinions on the letter. From what I can tell is they are buying back odd lots which is what I own.

I cant believe more people aren't checking this out. What up with tis letter?

Originally posted by ddiamonds
I cant believe more people aren't checking this out. What up with tis letter?

not everyone has a keen interest in this kind of activity...

and then , because the information is so sketchy, its hard to construct a
devious plan being played out.


one poster informed the thread that the ticker BAC has a stock repurchase
program underway since Jan 2008...

the 'Letter' may be just a reminder to the brokerage houses to
remind their clients that BAC still has money-on-the-table to purchase
stocks from discouraged shareholders.


yes, Monday may reveal something.. but i'm still in the process of
shifting my BAC checking account, to a credit union