Gerard Cassidy Quotations

Because its three main competitors shot the lights out, Bank of New York's solid, respectable results disappointed people.

I wouldn't view this as any indication the company is putting itself up for sale. I think it's an indication of better corporate governance. What they are trying to show everyone is that there's not going to be any artificial hurdles to them being acquired.

If it were as negative as it appears on the surface, Microsoft stock would be dropping like a rock, and it's doing just the opposite. It doesn't appear to be something that's material in nature.

If it were as negative as it appears on the surface, Microsoft's stock would be dropping like a rock, and it's doing just the opposite. The market is apparently saying, financially speaking, this is not a devastating event for Microsoft. Of course, as more news come out, that might change.

If we see a recovery this year and it becomes a stronger one than we expected, that will adversely affect bank stocks like they did in 1994 and 1999.

The timing of the bank sale could have been better, but you can't blame management for the timing. Mellon did not, and could not, see that interest rates would fall to 45-year lows right after the sale of the bank.

The numbers were good at all of the custody banks and were driven by revenue in their asset management business.

The real profit in the credit card business is the revolving balances. Commerce has calibrated what balances they need to be able to make this product profitable without charging the fees that some of the other credit cards charge.

The real profit in the credit card business is the revolving balances, ... Commerce has calibrated what balances they need to be able to make this product profitable without charging the fees that some of the other credit cards charge.

This announcement will help with Mellon's profitability. But until (the stock) does better relative to their peer group, pressure from shareholders will remain intact.