500 or bust?
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The meeting is an update call on the state of the firm. Danny will do the usual and say he is sorry but there is not update on retention. In other words there is NO retention. My manager has made that clear to me.
retention> ? be working for DMV soon after nationizationWFC at $9.75, C at $2.00 BAC at $3.28. I’d say there are bigger problems than retention.
Somebody on Wall Street must not have gotten the memo. Considering equities are a leading indicator, if they were going to see obscene profits in a couple of years, it would be reflected in the stock price.
The sector is being annihilated because nobody trusts the numbers the banks are using. Housing prices are falling daily in virtually every city in America, and the mortgages on these banks’ books are now being negotiated by the Obama administration. What’s more, tax credits aren’t nearly the same as operating earnings. Good luck finding any of those. And the $3 billion that you believe will go to a nice retention package will come from the capital accounts of WFC, and were I the Treasurer at Wells, that money’s staying right here.
guess we will all know in a little over an hourSomebody on Wall Street must not have gotten the memo. Considering equities are a leading indicator, if they were going to see obscene profits in a couple of years, it would be reflected in the stock price.
The sector is being annihilated because nobody trusts the numbers the banks are using. Housing prices are falling daily in virtually every city in America, and the mortgages on these banks’ books are now being negotiated by the Obama administration. What’s more, tax credits aren’t nearly the same as operating earnings. Good luck finding any of those. And the $3 billion that you believe will go to a nice retention package will come from the capital accounts of WFC, and were I the Treasurer at Wells, that money’s staying right here.
95% of the top end of the firm will be gone if that is the case.Zero retention…Zero, nothing
guys i think we all know already. cmon. if it was even decent news we would have heard.
No way will firm lose 90 percent of top end. Truth is guys that are still here at this point are the ones too afraid to make the move in any environment. Its the same guys that have been complaining about the firm for years and threatining to leave but never do.
these guys do not want to lose clients in this environment and so they stay frozen and keep complaining hoping someone will listen and give them a check for sitting in their seats.
This continues to be by far the most entertaining thread going! Can’t wait to hear the news today if only for kicks!
Personally heard Managers call which said
Name: Wells Fargo Advisors Retention: Due to economic conditions and Industry under fire "NO RETENTION BONUS" Envsion program "payout enhancement" details coming.[quote=Tincup]Personally heard Managers call which said
Name: Wells Fargo Advisors Retention: Due to economic conditions and Industry under fire "NO RETENTION BONUS" Envsion program "payout enhancement" details coming. [/quote] BYE ! Details coming.Just heard from another person who was on the call.
Retention is nothing. No bump, no Vesting. Absolutely nothing. Truly sad.... they just blew up one of the best wirehouse firms on the streetEnvision/forefront program will have monies to earn/achieve/reach for each year for a ten year period with a grand prize of up to 100m per year if you do everything they want…But it’s not a “bonus”… I don’t care what they call it…
Not new, but the slant from DL was enhanced- not surprised today…after so much time
Forefront my @ss. How can DL look himself in the mirror if he doesn't deliever on his repeated promises?! Their aint no future in yo frontin' The firms are paying retention and signing bonuses have NEVER been better. I'll believe it when I see it but if they try that it's gonna cost them more than a halfway decent retention would have.Forefront/Envision bonus is nothing new, that already exists
Let me say one more time. Retention is zero…nothing. I cant believe it but its true. They dont give a shi@t about us and never have. Wells fargo doenst want PCG. Never have. They said that loud and clear today. We now have all the information we need to know to make our decisions.
Dont say I didnt warn yougauge my man… you might want to listen to the call just in case…