500 or bust?
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I don’t think he was shooting the messanger, just passing a comnet along to the best liars in the industry…
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You people are Fing nuts. Why do you insist BP is lying. Good grief, they guy had a contingency plan. The lies continued and he executed the plan with a phone call. How hard is that to figure out? Doesn’t take months to shop your book. Be a good idea for everyone to have a contingency plan right now. Most guys I know have several and they are getting ready to execute one of them.
skybroker … DITTO ON B.P. THE GUY MUST BE CRAZY… HE NEEDS TO LET GO AND TAKE SOME XLAX SO HE GET GET RID OF SOME OF HIS SH T !!! THE ONLY PERSON THAT BOTHERS ME MORE THAN HIM IS ME FOR READING HIS DRIBBLE>>>> MOVE ON BP>>>MS AND MR MACK WILL SCREW YOU VERY SOON>>>>
Hey rep ipsa....what's up w/ that conference call yesterday??? anything???
Bazzbuzz, anything from the one you knew about?? Thanksconf. call to announce that there might be a conf. call sometime in the future announcing something…maybe.
It is tomorrow and no one will like it. We are getting zero. Nothing at all. I wish I was wrong but Im not.
If that is true then WFC looked at the bank and determined that at $10 per share, the bank is profitable without brokerage. I guess they may feel that the gain all kinds of politcal capital by not paying an "executive bonus." They may think that people will leave but so what. Guys on the low end dont have many options some on the upper end wont leave due to fear. Maybe what they are thinking is even if they lose 30-40% of head count it really doesnt matter because anyone that stays is just gravy to them.
Just was talking with my accountant, I had forgotten this but, just prior to the purchase of WB. Wells recieved what is now called the "Wells Fargo ruling" what it does is allow Wells to take a tax write off for any net operating losses or roughly 12 billion dollars. In essence, WFC paid 0 for WB. Perhapsh the longer term intent is to do a JV where they (wells) own 49% of the JV and only are interested in any after tax profits that would be distributed along the lines of ownership. In that scenrio, I can see why they might do that.G26: What is your source? Haven't seen announcement about a call. Thanks.It is tomorrow and no one will like it. We are getting zero. Nothing at all. I wish I was wrong but Im not.
that might explain why DL and JH have gone dark...It is tomorrow and no one will like it. We are getting zero. Nothing at all. I wish I was wrong but Im not.
great. I m gonna move my book based on that information. Hopefully your information will be as credible as be patients. I guess u can’t be wrong 10 times in a row. LOL
Actually, I dont think guage has been ever wrong. I think prior to Friday, the retention deal was done. He was right about the friday announcement. Our Regional guy admitted that they had a call originally scheduled on Friday that was, for reasons that sounded at best suspect, canceled. The reason given was that they didnt think they could get the info announced to Sr Mgt and then to the FA's in time. Well, if we'd gotten a call yesterday or today that reason passes muster. The fact that we havent heard anything yesterday or today tells me that "reason" was pure BS. I think Hays was told to nix the conference call that Wells wanted to look at things again and decided since they are basically paying nothing for the whole deal that they gain far more political capital by not paying retention and fully intend on spinning us off or doing a JV at some point when the markets recover. Guage knew about the SR mgt meetings before they were announced, he knew about the call on friday (which was verfied as far as I am concerned) and he is calling for a conference call tommorrow. If no call tommorrow then your are right.great. I m gonna move my book based on that information. Hopefully your information will be as credible as be patients. I guess u can’t be wrong 10 times in a row. LOL
[quote=NCGNTO] I know. Been my family for many years - some have been twice removed but the culture, my colleagues, the sharing of ideas… Albert G. built an amazing firm only to ruined beyond belief by Bob f##ng Bagby and DL.
I would have died at my desk…I loved AGE!
I can’t stand going too work. The only thing that keeps me going is my family and clients…
DL hides his inability to run a firm by aquiring other firms. He MUST GO! Surely AGE or WF has better people![/quote]
gezz man pls STFU. take a look around.
the MF free world is going down the tubes.
go to 7-11 and get some depends u whinning pussy.
oh…i only go to work for my wife and kids. dude stfu
heard today that retention is not good and will be worst then we would expect but no idea when it will be announced. regional managers know what it is and it is not good. i was told it was completely revamped over the weekend due to different circumstances. DONT KNOW WHAT THAT MEANS…
Different circumstances.....well let's see...what is well fargo's price right now? More writedowns anticipated with wachovia crap on their books now....that sound different to me..
The combined Wells Fargo and Wachovia last month posted a $13.72 billion fourth-quarter loss as it set aside more money to cover sour mortgages and other bad loans. Wachovia legally joined Wells Fargo on Dec 31, 2008 and the two banks are formally integrating now.
"The market is starting to grow edgy about what may surface as they consolidate the Wachovia book of business into Wells Fargo," said Keith Wirtz, president and chief investment officer of Fifth Third Asset Management.
Wirtz added investors feared the bank could slash its dividend payout, even though Wells Fargo said last month it will maintain its payout.
Wells Fargo was once considered conservative in its assessments of Wachovia's loans. But investors and analysts have grown more worried about the bank's assumptions as market conditions deteriorated rapidly, particularly for loans known as "option adjustable rate mortgages," which allow borrowers to choose whether to repay principal or just interest each month.
Last week, the bank increased the size of its previously reported fourth-quarter loss because of new investment losses. Wells Fargo said the charge boosted its quarterly after-tax loss to $2.73 billion, or 84 cents per share, from a previously reported $2.55 billion, or 79 cents.
"Options flow suggests concern that Wells Fargo shares have the potential to trade below $9 over the next five weeks," said Henry Schwartz, president of option analytics firm Trade Alert.
Wells Fargo shares were down 3 percent at $13.28 at midday on the New York Stock Exchange after falling as much as 12 percent to their lowest level since April 1997. The shares have fallen 56 percent this year, since the Wachovia deal was closed.
WFC is getting hammered. I know it’s been said many times here… but how in the world can this whole ‘retention’ game end well at this point for Wachovia? The environment is not improving and short of an unknown play to spin off or sell or JV WB, how can there be any respectable or appreciative ‘retention’ rolled out?