wachovia name

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aldo63's picture
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Joined: 2006-09-11

The wachovia name is well known in my area virginia and north carolina but still is not well known in the Northeast. The bank went from corestates to first union (the basketball arena was known as the FU center in Philly) to wachovia. I still think the name is less reconized that AGE in that area. I am curious what people in the midwest, northeast and west think about the national name.
Just so people know, first union was much bigger than wachovia when they bought it. The first union name had a bad reputation and that is why they are called wachovia now.

troll's picture
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Joined: 2004-11-29

http://wachovia.com/file/WB_AGE_Investor_Presentation.pdf
Wow! A very good presentation around this deal.

Oldproducer's picture
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Joined: 2007-05-14

Interesting. Too bad the AGE reps are screwed. Any rep with even a little bit of self respect (which AGE has many) wouldn't step down to working for a bank!

noggin's picture
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Joined: 2004-11-30

I predicted this merger about 2 years ago in this forum. I was laughed at......

troll's picture
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Joined: 2004-11-29

noggin wrote:I predicted this merger about 2 years ago in this forum. I was laughed at......
I predicted it in 1972. People said "maybe it'll happen."

Reggin's picture
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Joined: 2005-09-03

noggin wrote:I predicted this merger about 2 years ago in this forum. I was laughed at......
And we're still laughing at you.  Had it been 2 months ago, that would have been a timely prediction.  2 years ago it was a wild guess.  Care to lay odds that we'll have a correction in the next couple years?

noggin's picture
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Joined: 2004-11-30

Reggin wrote:
noggin wrote:I predicted this merger about 2 years ago in this forum. I was laughed at......
And we're still laughing at you.  Had it been 2 months ago, that would have been a timely prediction.  2 years ago it was a wild guess.  Care to lay odds that we'll have a correction in the next couple years?

Reggin I am certainly happy to sit at the fount of your wisdom. BTW, since I have friends at Wachovia it was anything but a wild guess.....You certainly are a piece of work........
 
 

Reggin's picture
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Joined: 2005-09-03

Did you buy AGE stock 2 years ago when your all knowing friends told you this gem?  I'll bet you MADE A KILLING!  The stock was trading at 41, you must have doubled your money.  Next time put your money where you mouth is, big mouth.
 
And by the way, It's common knowledge at AGE that they have been shopping a deal for a while now and only approached Wachovia in November.  Even after the announcement, regional managers and branch administrators were in SHOCK.  So your friends were as full as $hit as you are.
 

troll's picture
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Joined: 2004-11-29

Reggin wrote: Even after the announcement, regional managers and branch administrators were in SHOCK.  So your friends were as full as $hit as you are.
 AGEdwards is a great firm that was largely populated by 'true believers' in its client-first culture.  Not to claim they were perfect, but the concept was that by relentlessly focusing on meeting the clients' needs and also treating employees well, ultimately the bottom line would work out just fine over the long term and shareholders would benefit.  All things considered, that philosophy worked very well for over 100 years.Regrettably, Ben Edwards was the last real "keeper of the flame".  Tad Edwards tried, but he didn't last because he tried to make too many changes too quickly-including quite a few that seemed to mimic Merrill.  He was a pale imitation of his father, and ultimately, he was forced out.  Then Bagby comes along and gathers corporate empty suit operators like Miller around him and dilutes the culture that Ben and his predecessors had built up for so long.  Then he cuts back on capital spending to improve short-term profitability.  Before long, though, the firm realizes that due to that reduced level of investment in its future, they are falling behind.  That's when they had to start seriously shopping themselves around.Ben openly commented in the St. Louis Post Dispatch today that he was "saddened" by the news.  Had a few other choice comments as well.  I can't blame him.  He was a great leader and did a lot of good during his time at the helm.This acquisition by Wachovia is NOT a good thing for AGE brokers, employees, or clients, IMHO.I hope Ben keeps good on his threat and hangs up a shingle down the street, but I would be surprised.Just my 2 cents...

noggin's picture
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Joined: 2004-11-30

Reggin wrote:
Did you buy AGE stock 2 years ago when your all knowing friends told you this gem?  I'll bet you MADE A KILLING!  The stock was trading at 41, you must have doubled your money.  Next time put your money where you mouth is, big mouth.
 
And by the way, It's common knowledge at AGE that they have been shopping a deal for a while now and only approached Wachovia in November.  Even after the announcement, regional managers and branch administrators were in SHOCK.  So your friends were as full as $hit as you are.
 

The answer to your first question is no. Maybe you don't have ethics but i do. The friend is a regional manager at WB, so I can certainly tell you he wasn't shocked. You are the one who is full of it.

troll's picture
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Joined: 2004-11-29

noggin wrote:Reggin wrote:
Did you buy AGE stock 2 years ago when your all knowing friends told you this gem?  I'll bet you MADE A KILLING!  The stock was trading at 41, you must have doubled your money.  Next time put your money where you mouth is, big mouth.
 
And by the way, It's common knowledge at AGE that they have been shopping a deal for a while now and only approached Wachovia in November.  Even after the announcement, regional managers and branch administrators were in SHOCK.  So your friends were as full as $hit as you are.
 

The answer to your first question is no. Maybe you don't have ethics but i do. The friend is a regional manager at WB, so I can certainly tell you he wasn't shocked. You are the one who is full of it.

The question here is if your regional manager friend knew 2 years ago, which is very doubtful.  Why you feel the need to lie on this forum is beyond me.

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