Cuttyhunk Bank Case Summary
In this case, Richard Wilson had sent three main messages. The April 25 letter is an official message which informed members (depositors and borrowers) of the bank to attend the meeting. The content of this letter was cleared. It included the time of meeting and listed all of issues which meeting will go through. Moreover, this message included some promises like Cuttyhunk bank will remain a mutual saving bank, just as it has always been after the bank convert to state- charter. I think It will let members feel reassuring and trust the bank.
Another one, the content of the message which he told his assistant treasurer, Nancy Brock, was that he thought depositors needn’t to take their time to attend the meeting, since all issues were clearly …show more content…
Probably one of managers or employee exposes this interoffice E-mail to newspaper office due to crisis. The content of this email was informed managers do not encourage depositors and borrowers come to attend meeting. But when Wilson conveyed his thought to managers, he did not list any evidences to support his point. Actually, in order to expand to another state and make more profits, Wilson might want Cuttyhunk Bank could convert back to state-chartered savings bank from federal savings bank successfully without any questions and comments. Just like last two annual meetings. Yet, federal law requires that the bank which wants to convert should notify all members to attend this meeting. So Wilson want branch managers persuaded members that provide their proxy votes instead of come to attend meeting. In the email, “Just don’t tell them in so many words that they shouldn’t attend, because legally, they may.” indicated that Wilson ignored the important of evidence. In addition, Wilson said that depositors and borrowers will no longer be considered members and will no longer be entitled to attend meeting and vote when the bank convert to the state charter. I think, in business situation, every individual could be a potential customer. Similarly, depositors and borrowers might be potential members after bank convert to state charter. They will no longer be considered
Another one, the content of the message which he told his assistant treasurer, Nancy Brock, was that he thought depositors needn’t to take their time to attend the meeting, since all issues were clearly …show more content…
Probably one of managers or employee exposes this interoffice E-mail to newspaper office due to crisis. The content of this email was informed managers do not encourage depositors and borrowers come to attend meeting. But when Wilson conveyed his thought to managers, he did not list any evidences to support his point. Actually, in order to expand to another state and make more profits, Wilson might want Cuttyhunk Bank could convert back to state-chartered savings bank from federal savings bank successfully without any questions and comments. Just like last two annual meetings. Yet, federal law requires that the bank which wants to convert should notify all members to attend this meeting. So Wilson want branch managers persuaded members that provide their proxy votes instead of come to attend meeting. In the email, “Just don’t tell them in so many words that they shouldn’t attend, because legally, they may.” indicated that Wilson ignored the important of evidence. In addition, Wilson said that depositors and borrowers will no longer be considered members and will no longer be entitled to attend meeting and vote when the bank convert to the state charter. I think, in business situation, every individual could be a potential customer. Similarly, depositors and borrowers might be potential members after bank convert to state charter. They will no longer be considered