Recent correspondence sent to my friend Kaye Houston on the JP Morgan Chase & Co's Investor Relations Team.
I have sent quite a few heated messages that were ignored until I started using words like misleading investors and fraud, and until I made my intentions clear and suggested that Investor Relations forward my correspondence to their Legal Team and the Board of Directors. I find that I get the best results when I start sending correspondence to someone in a "lower-level" position within an organization and include strong words that will guarantee that the correspondence gets escalated.
The Executive Office still wants to speak with me, but I have not called them back yet. I still have more firepower to throw at them.
All I can say is look for Dimon to give back the TARP funds that JPM took soon or look for the JPM common-stock dividends to be slashed. If one of these two things does not happen in the very near future, Jamie Dimon will start to get these questions asked to him by someone of greater stature than myself and articles will be written about the "dividend issue".
"Good Evening Kaye.
I Hope all is well with you.
If you could please review this message and answer my questions regarding the dividend on JP Morgan Chase & Co's common-stock, it would be very much appreciated.
Why Does JP Morgan CEO Jamie Dimon Think It Is OK To Accept Billions of Tarp Funds and Continue To Pay A $1.52/share In Dividends?
4 dividend payments/year x $.38 = $1.52 x 3.7 Billion Shares Outstanding = $5,624,000,000.00
That's $5.6 BILLION DOLLARS in dividend payments to his common-stockholders, which he is one of, when it is my understanding that banks that accepted TARP funds are not supposed to pay more than $.01 in dividends to their common-stockholders.
JP Morgan accepted $25 Billion in TARP funds.
How does Jamie Dimon justify accepting $25 billion in TARP funds and then ignore Congress' rules regarding paying a maximum of $.01 in dividends to common-stockholders?
If JPM didn't want or need the TARP funds, why did they take them?
What did they do with the $25 Billion in TARP funds they accepted?
If JPM is planning on returning the TARP funds in the near future, does/will JPM have the $5.62 BILLION in cash needed to sustain that large of a common-stock dividend for the next year?
Is JPM planning on paying the quarterly dividend of .38 (1.52 yearly) to its common-stockholders whether JPM gives back the TARP or not?
Will Jamie Dimon address these questions on "Investor Day" on February 27,2009 ?
I feel that these issues are real and that JPM investors AND the American Public deserve answers to these questions.
Thanks for taking the time to review this message, and have a great weekend!
M___ S______
________@hotmail.com"
