A Rumsfeldian Remider for BHJ and Others Interested in State Street/BushCo. Pension Issues

[CorpGovActivist]

Q. Is tomorrow the earnings call?

A. Why, yes it is, at 9:30 a.m. ET.

Q. Have reporters been clamoring for pre-comment about the event from shareholders who have submitted a proposal for the 2008 annual meeting in April?

A. Could be.

Q. Have said reporters received a press packet, under embargo, for tomorrow's call?

A. Heavens to Murgatroid, whatever gave you that notion?

Q. Is the call expected to be available online tomorrow morning?

A. Why, yes, http://news.google.com/news?hl=en&um=1&tab=in&scoring=d&q=%22state+street+corporation%22+conference+call">it is.

Q. Will there likely be http://www.sec.gov/cgi-bin/browse-edgar?company=&CIK=stt&filenum=&State=&SIC=&owner=include&action=getcompany">relevant SEC filings posted later today or early tomorrow morning?

A. Yes, I think that's a fair assumption.

Q. Do http://www.google.com/search?hl=en&q=state+street+largest">State Street's operations affect millions of Americans' pension plans?

A. Yes, they do.

Q. How can I find out if State Street has its Bushie Bank hands on my pension plan?

A. Go to http://www.freeerisa.com/">FreeERISA, and look up your plan's Form 5500 for free, paying particular attention to the schedules listing who was paid how much to "service" your plan.

Q. Is it true that http://www.google.com/search?hl=en&q=logue+card+willie+horton">the CEO of State Street is in thick with Andrew Card, and with the mastermind of the Willie Horton ad against Dukakis?

A. This press conference is over. Carry on.

- Dave

[IdesOfOctober]

1. Wait, wait, Mr. Secretary!

Did John Edwards' camp receive a press packet?

Ides

[CorpGovActivist]

8. A. That's a firm "no comment." n/t

[donkeyotay]

2. Lol. Does this mean I should tune in tomorrow?

Just a kick to read later.

[CorpGovActivist]

3. A. I Plan to Listen in Quite Carefully n/t

[antigop]

4. CGA, when you say "pension" plan, are you referring to a defined benefit (DB) plan or...

a 401(k) or both?

State Street manages some of the funds in the 401(k) of a good friend. Not sure if they manage any of the funds in the defined benefit plan.

[CorpGovActivist]

5. Both DB and DC Plans n/t

[antigop]

6. OK, I'll have to follow this....thanks! n/t

[CorpGovActivist]

7. One More Thing...

... don't overlook http://www.google.com/search?hl=en&q=citistreet+defined+benefit+contribution+plans">CitiStreet, their 50/50 JV with Citi.

They also touch a lot of multi-employer plans (e.g., unions').

- Dave

[DemReadingDU]

9. Thanks for the reminder

Will you or Ides be posting the highlights about the conference call?

[CorpGovActivist]

11. At Least One of Us, I Should Think n/t

[DemReadingDU]

12. That would be great

I'm sure you and Ides would have more interesting commentary to read about

:P

[CorpGovActivist]

13. The Concall Will Be Archived, Too, If You Miss It Live...

... and many "first time listeners" are surprised at how quickly they pick up on the "read between the lines" language.

But, yeah, I'm sure I'll have an annotation or two to share.

- Dave

[IdesOfOctober]

14. I will be listening, and think we should do jammie cammies.

I'm really enjoying my vaca.

Ides

[CorpGovActivist]

10. Multi-Employer Plans, Including Unions

http://www.google.com/search?hl=en&q=citistreet+multiemployer+plans">CitiStreet

http://www.google.com/search?hl=en&q=%22state+street%22+multiemployer+plans">State Street

- Dave

[IdesOfOctober]

15. BHJ and other Edwards supporters take note.

Exercise #1

Go to the advanced http://www.fec.gov/finance/disclosure/advindsea.shtml">individual search feature of the FEC database.

Leave all other fields blank except the employer. Fill in state street.

At the bottom of the first page of results, note the Continue link.


Exercise #2

Same as #1 above. Restrict dates since the 2004 election.


Exercise #3

Same as #1 above, except note the top STT officers (http://www.sec.gov/cgi-bin/browse-edgar?type=def+14a&dateb=&owner=include&count=40&action=getcompany&CIK=stt">listed in each year's proxy under the Executive Compensation section).


Exercise #4

Same as #3 above, except leave out state street, and fill in Directors' names (they may not list STT as their "employer").

Ides

[DemReadingDU]

16. What is this SST VOLUNTARY POLITICAL ACTION COMMMITTEE

STATE STREET BANK AND TRUST COMPANY VOLUNTARY POLITICAL ACTION COMMMITTEE


It seems many employees gave to this fund. What/who is it used for?

[IdesOfOctober]

17. Ha! Paying attention.

I sort of figured you'd ask.

http://www.fec.gov/finance/disclosure/advcomsea.shtml">Check out the advanced PAC search feature, and type state street in the Committee Name field. Have fun following the links.

You might check out Diebold, Halliburton, KBR and others that interest you. Also note that STT gave to some financial services trade group PACS, too.

Ides

[DemReadingDU]

18. Interesting. Gives to both Democrats and Republicans

Guess they need favors from each side of the aisle.

:)

[IdesOfOctober]

19. Need and get them.

The MA delegation of Dems have not been leaders on this issue.

Ides

[DemReadingDU]

20. morning kick

[antigop]

21. Asset -backed commercial paper conduits

http://www.sec.gov/Archives/edgar/data/93751/000115752308000303/a5585176ex99_2.htm

[CorpGovActivist]

24. Full Filing

http://www.sec.gov/cgi-bin/browse-edgar?company=&CIK=stt&filenum=&State=&SIC=&owner=include&action=getcompany
- Dave

[antigop]

22. State Street's earnings fall 28%

http://money.cnn.com/2008/01/15/news/companies/bc.apfn.earns.statestree.ap/index.htm?postversion=2008011508

Trust bank State Street Corp. said Tuesday that fourth-quarter earnings fell 28 percent after the company took a major charge to cover fallout from its investments in the subprime sector.

Net income slid to $223 million, or 57 cents per share, from $309 million, or 91 cents, in the year-ago period.

The result includes a charge of $279 million, or 71 cents, to cover expected legal and other costs from investments that deteriorated last year. State Street warned investors of the charge earlier in January.

[CorpGovActivist]

23. Listening in Now? n/t

[DemReadingDU]

25. yes, just in time for the questions

;-)


edit for link
http://phx.corporate-ir.net/phoenix.zhtml?c=78261&p=irol-IRHome

[CorpGovActivist]

26. Hope You Gave a Good Name

:rofl:

- Dave

[IdesOfOctober]

27. I came up with a lulu.

:spray:

Ides

[CorpGovActivist]

28. Phone Ringing All Morning n/t

[IdesOfOctober]

30. Any news reports we should focus on, maybe with for-attribution, on-the-record comments?

[IdesOfOctober]

29. That ain't the Queen's English they're speaking.

How'd you like that jarring accent of the CEO's?

Ides