"The bank has given too much priority to grand schemes and acquisitions, rather than running a day-to-day bank, " said Alastair Winter, chief economist at DanielStewart Securities.
Collins Stewart analyst Daniel Ries writes in a research note this morning that he has had multiple conversations in recent days with various permit-issuing groups in Los Angeles County, and that most were unaware that there remained an outstanding permitting issue on the project.