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Drew Brees named to Board of Directors of... a bank???
Posted on 4/1/21 at 7:42 am
Posted on 4/1/21 at 7:42 am
I know he is allegedly a nice guy and all. Or a pandering idiot if you will. Regardless, a Board of Directors is made up of people with business expertise in the company's sector who are relied upon to guide the business strategically and help it grow. Brees is notorious for his bad business and investment decisions. If I was a shareholder of that bank, I would have questions.
Give the guy an endorsement deal, don't put him on the BoD. That's just stupid.
Give the guy an endorsement deal, don't put him on the BoD. That's just stupid.
quote:
Drew Brees may have retired from the New Orleans Saints, but he’s joining the team at b1Bank.
The former Saints quarterback was named Wednesday to the board of directors for the Baton Rouge bank and its parent company, Business First Bancshares. “I am always looking for opportunities to partner with people and organizations that do the right things the right way, and I have experienced that personally as a client of b1Bank,” Brees said in a statement. The bank has 43 locations across Louisiana and Texas, but the only branches it has in metro New Orleans are in Metairie and Covington.
30
Posted on 4/1/21 at 7:42 am to jbgleason
That happens all the time in corporate America. Marketing. See shaq.
Posted on 4/1/21 at 7:43 am to jbgleason
He'll bring the Board to its knees...
Posted on 4/1/21 at 7:44 am to jbgleason
Jimmy Johns sucks, just putting that out there.
Posted on 4/1/21 at 7:45 am to TigerGman
I mean it’s probably a 9 or 12 member board so his vote doesn’t mean a damn thing really. This is a way to get cheap publicity and it’s already worked.
Posted on 4/1/21 at 7:45 am to jbgleason
quote:
Regardless, a Board of Directors is made up of people with business expertise in the company's sector who are relied upon to guide the business strategically and help it grow.
Several of my friends are on Boards of banks. None of them knows shite about banks. They all have lots of money, though.
Posted on 4/1/21 at 7:47 am to jbgleason
They should have him star in a Jared commercial next.
Posted on 4/1/21 at 7:47 am to jbgleason
quote:
a Board of Directors is made up of people with business expertise in the company's sector who are relied upon to guide the business strategically and help it grow.
Banks typically have some of their the largest depositors as members of the board.
Posted on 4/1/21 at 7:51 am to jbgleason
They threw in free safe deposit boxes for all his custom jewelry. No brainer.
Posted on 4/1/21 at 7:51 am to TigerGman
Say His Name!
Posted on 4/1/21 at 7:54 am to elcid
Posted on 4/1/21 at 7:58 am to jbgleason
He doesn’t have to do anything. He’s just a name for them.
Posted on 4/1/21 at 8:02 am to jbgleason
quote:
Metairie and Covington.
If I am reading correctly they are racist and do not want black peoples money.
Posted on 4/1/21 at 8:06 am to jbgleason
Bank loans for the sale of diamonds are about to go through the roof
Posted on 4/1/21 at 8:07 am to jbgleason
This happens all the time.
The board members often know nothing about the business.
The board members often know nothing about the business.
This post was edited on 4/1/21 at 8:08 am
Posted on 4/1/21 at 8:10 am to jbgleason
quote:
Regardless, a Board of Directors is made up of people with business expertise in the company's sector who are relied upon to guide the business strategically and help it grow.
Well that’s not true at all.
Posted on 4/1/21 at 8:15 am to jbgleason
Isn’t that Buddy Roemer’s Bank?
Posted on 4/1/21 at 8:16 am to jbgleason
quote:
If I was a shareholder of that bank, I would have questions.
Would you storm in and demand a manager? He’s just a board member
This post was edited on 4/1/21 at 8:17 am
Posted on 4/1/21 at 8:20 am to jbgleason
The bank I worked for in Tulsa had a BoD consisting of a Dentist, a Dr., 2 lawyers, a couple of rich housewives and their businessman husbands. They were the largest depositers and the majority ownership shareholders.
Not all that different from the, at the time, world's largest and most profitable collection agency that was a private corporation. The BoD there was the founding/majority owner couple (wife was technically the business owner for the minority benefits and the fact the husband was barred from US Govt. contracting/bidding), a former Fed Bank Examiner, the owners best friend from childhood (he spent 3 years in club fed after taking a plea deal) and his wife, some of the investors backing the startup including owners sister and her husband from Germany, some of the owners social circle. Despite this the owners became for a time the 2nd or 3rd richest in America behind only Gates and Buffett (this was prior to the internet boom so Bezos, et al, was yet to emerge).
Not all that different from the, at the time, world's largest and most profitable collection agency that was a private corporation. The BoD there was the founding/majority owner couple (wife was technically the business owner for the minority benefits and the fact the husband was barred from US Govt. contracting/bidding), a former Fed Bank Examiner, the owners best friend from childhood (he spent 3 years in club fed after taking a plea deal) and his wife, some of the investors backing the startup including owners sister and her husband from Germany, some of the owners social circle. Despite this the owners became for a time the 2nd or 3rd richest in America behind only Gates and Buffett (this was prior to the internet boom so Bezos, et al, was yet to emerge).
Posted on 4/1/21 at 8:22 am to jbgleason
quote:
Regardless, a Board of Directors is made up of people with business expertise in the company's sector
Not always the case. You’d be surprised at some of the “experts” that sit on the BoD of companies—especially smaller banks.
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