Rectilinear Propagation

Rectilinear Propagation

mattbrown

Bladefist

You are entitled to your opinion, but you (and for that matter, any of us, including myself) are not entitled to assume that your opinion is better than everyone else's. Secondly, assuming that everyone else in this comment space loves Apple, hates Bush and everything corporate will not only net you even more foes, but is fallacious.

Finally, your experience with Sallie Mae is your own. There are horror stories as well as success stories, which is true of just about any company large enough to attract corporate idiots. Just as you can't always judge a company by the horror stories you hear (although it's often a sign of something rotten), you can't assume such stories are exaggerated because they've happened to treat you well.

magus_melchior

seriously, this is news?

asscore

You're free to have your opinion about how unacceptable you find a product you had no intention of buying anyway. I'm free to note that your opinion is irrelevant.

The product, again, isn't a legal transcription service. They usually also edit out uh, um, etc. - it's designed so that the financial community can read what the call said, not get a syllable-by-syllable depiction of it.

The people who actually BUY that product don't care if they put in "expletive" instead of fuck.

Your criticism is roughly akin to my condemning the manufacturers of city buses because they won't go 125mph - it's both irrelevant (because I'm not buying a city bus anytime soon) and fundamentally misunderstands the nature of the product and the requests of the customer base.

JustAGuy2

Bladefist

drjayphd

You're = contraction of you are; If you can replace "your" in a sentence with "you are" and it makes sense, then you're a moron. Or possibly 10 years old.

healthdog

If you have shares, sell now. Better to lose something than lose everything.

KJones

Bladefist

CumaeanSibyl

Said like it's a bad thing?!

And, see that key to the right of the "0" one? It's called the hyphen. It's an integral part of the English language, vis compound words. Might want to research that...

PS: Free Republic is probably a better match than a site that, y'know, is about CONSUMERS NOT GETTING RIPPED OFF.

Trai_Dep

It's not about the word. It's about a highly placed professional losing his cool. He should have been well prepared for the questions he would receive in this environment, and he went defensive and vulgar instead of responding appropriately. Defensive people are usually hiding something much worse than anything they admit to.

Hilarious once the speaker phone is off, but a really, really bad sign when it is still on.

healthdog

I didn't realize that there was only one side you were able to comment on, and on the other side, you have to start your own blog. I found the article interesting, and fun, but I had an opinion of not thinking what he did should be a big deal. EXCUSE ME. I'll get back on the Apple Loving, Bush Hating, Corporation hating beat path that you are all stuck on.

I don't really have any experience with Sallie Mae Minus the fact Sallie Mae has my students loans, gives me an amazing rate, and has been very flexible for me, gives me more discounts on my rate for paying on time, and has exceeded all my of expectations.

Bladefist

*introduces comment to the mallet*

Rectilinear Propagation

i'm saying it's bullshit to call it a "transcript" or "transcript service" when someone gets to decide what naughty words are acceptable to print. are we 5 years old where our ears will melt if we read it? transcripts are word for word what was said.

and yes, thanks for pointing out that i don't have to subscribe to the sanitized speech to text service. where would i be without that valuable nugget.

i think the fact that this guy, CEO of Sallie Mae, said fuck is important to investors. it shows he doesn't care. expletive deleted just doesn't have the same ring to it.

forever_knight

Again, the companies doing the conference calls doesn't produce those transcripts. They're not legal transcripts either. They're produced by private companies who listen to the conference call and then type it up, for the benefit of subscribers, so the subscribers don't actually have to listen to the call, or who want to be able to go back to what was said without listening to a recording.

You're totally free not to subscribe to a transcript service, and that's your call. For most investors, though, they're invaluable, and the issue of whether the CEO said fuck or hell is much less important than what he said about securitization, or refinancing, or raising equity, etc.

JustAGuy2

they are all [expletive]-ed

SBR249

sanitized for your protection. no thanks.

forever_knight

I think it's relevant -- tells us what big companies really think of us "consumers" (that word itself is disrespectful... we're customers). They think we're nothing more than walking, talking wallets that are there for them to take from as they see fit. They have no respect for those who keep them in business.

Buran

Sachlichkeit

If he were the CEO of a mortgage institution. Sallie Mae does student loans.

JustAGuy2

Why not? You can utterly fail, lose billions of other people's money, and still walk away with a $150+ million golden parachute.

clevershark

fearuncertaintydoubt

clevershark

Bladefist

"[Sallie Mae] could not present earnings outlooks on a GAAP basis, citing the inability to forecast the effect of certain items."

They're being hit by the credit crunch, and have no idea what their assets will be worth in the coming months - hence, investor panic.

Skiffer

The transcripts are services provided by a private company. Investment banks and the like pay a subscription fee to get them. There's no regulatory issue here - if the paying customers want swear words, they'll get swear words.

JustAGuy2

kimsama

this applies to the white house also. a lot of random speeches are nicely edited for our protection.

forever_knight

Ben Popken

CumaeanSibyl

The transcript of the call is as follows:

"How (inaudible) is this? Steve, lets go. Theres no questions, lets get the (expletive) out of here."

I found one article that fills in these words, but it's not clear how the writer would know. I think you would have to be in on the call.

[www.theglobeandmail.com]

The audio of the transcript is up on the Sallie Mae website but the line in question is mysteriously absent.
[phx.corporate-ir.net]

Myron

[seekingalpha.com]

Skiffer

forever_knight

CumaeanSibyl

darkened

Just saying.

Crushmeguy

I mean, come on, that's pretty fucking stupid.

CumaeanSibyl

Skiffer

flackman

Not like most CEO's that stab their own people in the back and then say it's good for a company.

kootenayredneck

nealb

royal72

shan6

I just refinanced all my loans away from them, and its the smartest move I have ever made.

They are terrible, and the devil all in one.

Justinh6

homerjay

HRHKingFriday

Yes I realize this is wishful thinking lol.

Falconfire