Deckchairs. Titanic.

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xubser's picture
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Joined: 2009-09-21


poor UBS
 
UBS to reorganize struggling U.S. wealth management
http://www.reuters.com/article/idUSTRE6141W620100205

 
best line in the article: One analyst, who asked not to be named, was not convinced the new measures could help turn the tide, offering two words: "Deckchairs. Titanic."
 

Shania Twain's picture
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Joined: 2009-09-23

xubser wrote:

poor UBS
 
UBS to reorganize struggling U.S. wealth management
http://www.reuters.com/article/idUSTRE6141W620100205

 
best line in the article: One analyst, who asked not to be named, was not convinced the new measures could help turn the tide, offering two words: "Deckchairs. Titanic."
 
 
There is a great deal of luv for UBS.   
 
This firm is cherished by many, many people.  
 
Im thinking UBS is now the fav  for "most admired firm globally"
 
It is an icon

dontask's picture
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Joined: 2007-06-07

a lot of great people at WMUS. too bad they got screwed by the swiss

SoapySmith's picture
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Joined: 2010-01-13

Good people on the decks, slimy suits in management.

LogansRun's picture
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Joined: 2009-01-25

Swiss have good cause to sell and go home. Lets them and U.S. save face and perhaps their banking system by leaving. Cut a deal with US and exit wealth management in US. Comments? Doesn't excuse their actions. Great time to catch a lifeboat. There are a lot of good advisors still there (some duped and some scared), but many have split.

Arthur Andersen or come back? It's a long shot unless they figure out how to spin this funhouse off. Maybe the new regime can pull it off; roadshows bragging about new effeciency and locking down the most productive FAs. Retention locks 'em in - kinda like steerage - lock 'em down below on a large ship! Well, good luck with your destiny! Maybe it will be great? No matter what, they are a weak player given the exodus of client assets and FAs and the ongoing reputational stuff. Why in the world would you stay?
Sure makes for a nice controversial forum topic!    

LogansRun's picture
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Joined: 2009-01-25

SHIP SEEMED SAFER.
“As the lifeboats were being launched, many of the first-cabin passengers expressed their preference of staying on the ship. The passengers were constantly being assured that there was no danger, but that as a matter of extra precaution the women and children should be placed in the lifeboats.

“Everything was still quiet and orderly when I placed Mrs. Dodge and the boy in the fourth or fifth boat. I believe there were 20 boats lowered away altogether. I did what I could to help in keeping order, as after the sixth or seventh boat was launched the excitement began.

“Some of the passengers fought with such desperation to get into the lifeboats that the officers shot them, and their bodies fell into the ocean.

“It was 10:30 when the collision occurred, and 1:55 o’clock when the ship went down,” he said. “Major Archibald Butt stood with John Jacob Astor as the water rolled over the Titanic.

dontask's picture
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Joined: 2007-06-07

ouch; 56.2 billion francs out the door

http://www.google.com/hostednews/ap/article/ALeqM5jyYDboAHqcYAtC17l2G7ez3rW3XgD9DORENO4
Outflows amounted to 56.2 billion francs, with more than half coming from its Wealth Management and Swiss Bank division

Greenbacks's picture
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Joined: 2004-12-21

Of all the firms I acat from UBS seems to have the worst investments. I have seen several  million dollar accounts down to 200k. I have never seen accounts so full of penny stocks. I would think the law suits that follow will be ongoing for years.  
 
Maybe the penny stocks are just from the office here!
 

ABOM's picture
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Joined: 2008-11-01

Greenbacks wrote:Of all the firms I acat from UBS seems to have the worst investments. I have seen several  million dollar accounts down to 200k. I have never seen accounts so full of penny stocks. I would think the law suits that follow will be ongoing for years.  
 
Maybe the penny stocks are just from the office here!
 I find this reply to be very shocking.  Its extremly difficult to buy penny stocks at UBS, the compliance department has been running the firm for many years -- although i do see mccann loosening things up lately.

Shania Twain's picture
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Joined: 2009-09-23

ABOM wrote:

I find this reply to be very shocking.  Its extremly difficult to buy penny stocks at UBS, the compliance department has been running the firm for many years -- although i do see mccann loosening things up lately.

true.   
buy a penny stock?

Those cops from Wall Street flick would be in your office the next day

"Your not here to open an ira?"

(abom.....we cant catch a break......

making moolay.......

thought this would be a positive news quarter)

I really dont think we will be part of U and Us for very mcuh longer

SoapySmith's picture
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Joined: 2010-01-13

"I really dont think we will be part of U and Us for very mcuh longer"

Im not anymore, good luck on your journey.

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