Posts Tagged ‘CB&T’

Ledger-Enquirer Vs. Local TV On-line

January 6, 2009

  It appears the Ledger-Enquirer is getting serious about its online edition.  It’s not waiting  for the morning print edition to release some important stories. The latest impressive example is the story of CB&T buying the  Bill Heard mansion at auction for $7.65 million. CB&T foreclosed on the $18 million dollar Hollywood type celebrity palace when Bill Heard Chevrolet went under.

  No doubt the future for newspapers will be on-line.  But, on-line is a different ball game than the  traditional print editions. The paper recognizes this with a nod to video streaming, but it’s going  to take more than a nod.  Television stations are making a lot of headway with  their websites. WTVM also has the Heard mansion  story online right now.

  WTVM, Lee Brantley tells me, got a million hits the day the story about the murders at Doctor’s Hospital got national attention. CNN credited WTVM’s website with the story and the hits poured in.  Since television stations like WTVM heavily invest in television news coverage they have quite an edge over local newspapers that are putting minimal effort into video coverage.

  Still, the paper also has a huge edge over the television stations. It provides more in-depth coverage of subtantive stories, especially local business, government, and other non-crime stories. The  TV stations are crime oriented. The paper, as I have said, also covers crime, but it also gives more attention to other important stories.

  It’s going to be interesting how this all shakes down.

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Synovus Looks at Government Offer to Buy Shares

October 15, 2008

   While the nation’s nine largest banks have signed an agreement to sell shares in their banks to the government, smaller banks will also be a part of the action. Richard Anthony, Chairman and CEO of Synovus told me today that his company is “looking at” the offer.

Richard Anthony, Chairman and CEO, Synovus

Richard Anthony, Chairman and CEO, Synovus

  “Do you need it?” I asked,.

  “Well, not right now, but, looking to the future, we can never not be interested in capital sources.”

   He likes the idea of the government buying equity as opposed to pouring tax dollars into toxic mortgage securities, which is what it appeared would happen when Congress first agreed to the $700 billion banking bailout. 

  “So the government is going to have some ownership in banks,” I said.

  “Well, yes, but it will not be voting stock. It will be preferred stock.”

Stephen A. Melton, CB&T President and CEO

Stephen A. Melton, CB&T President and CEO

   And how has this financial crisis affected business at Synovus’ Columbus Bank and Trust Company? President and CEO Stephen Melton says business is slower, but it’s not because CB&T has changed or tightened its loan policy. That hasn’t changed, he said. “We are making fewer loans simply because demand is lower.”   

  Anthony said that the biggest problem is in the housing industry. He said that once that gets back up and running again things will get better. He was inducted into the Rotary Club of Columbus as a new member today.