Hi, this is Danny.  Thank you all for taking time out of your busy day to join this call.  As I stated in my last call, you are all in the trenches with bullets flying all over your heads.  We've asked you to keep your heads down throughout this time of uncertainty and it appears to be working.  I just wanted to let you know that we are going to send one more round of rocket fire towards all of you, then see who is left.  Based on that information, we will let you know what we've decided to do about a retention or "financial response" for all you FiNet folk.

Looks like the conference call is about the leadership tree and no mention of retention discussion.

I am getting interested and I don’t even work their…I can’t imagine waiting at my desk to find out what the next 5 years of my life will be like and where…

[quote=chief123]I am getting interested and I don’t even work their…I can’t imagine waiting at my desk to find out what the next 5 years of my life will be like and where…

[quote=Hank Moody] [quote=chief123]I am getting interested and I don’t even work their…I can’t imagine waiting at my desk to find out what the next 5 years of my life will be like and where…

[quote=Ferris Bueller] Mostly everything you said is bullshit and unworthy of a response. [/quote]

[quote=Morphius]
You must be bored today, Ferris.  No new news on the retention getting to you?

[quote=Ferris Bueller]Why exactly do you care? [/quote]
Why do you care if I care or not?

[/quote]

Of course that just begs the question- Why do you care if he cares about whether or not you care?

FoxBusiness already talking right now about $2-$3B in bonuses for SB and Morgan guys. Retention is supposedly at the top of the list already now that both boards have approved that marriage. They will not waste time trying to lock down the ranks.
Meanwhile… 90 days+ and nothing definitive from Wells on WB, hummm…  

My bet is WFC will pay twice as much in retention as they paid for WSllc…

There will be NO retention from Wells Fargo. These are smart players, not the losers planning on giving away my tax dollars to craptastic MS/SB brokers.

WFC understands the future of the brokerage biz: at least 30% fewer reps out there by 2012. Why would you waste good, real money today on folks who will not be part of your company in less than 48 months?

Next year (maybe later this year) when we are stuck nationalizing and selling off the many bits of Citigroup, articles will be written about the failures of Pandit& Co and how they paid $2-$3 Billion in bonuses for at least 8,000 brokers who are no longer employed.

Read your firm’s research on WFC…regardless of what firm you work with the report will say WFC is the best at cross selling and selling financial products to consumers. It will also say they manage their cash exceptionally tightly. Put those two together: NO RETENTION.  Just the oportunity to work for a well regarded corporate parent.  Would you rather get a couple of thousand bucks today so you can be out there scaring away the affluent with a Citi umbrella on your card?

great. After 167 pages on this topic and 645 different rumors we finally have a person that’s on wfc executive committe coming on this forum telling us that there will be no retention. Thanks dad

Not on the exec committee. 

Danny said he will address several issues tomorrow to include name and retention.  So, hopefully, only 10 more hours and maybe we’ll know more…maybe.  But don’t worry, avise knows all!

Danny said he will address several issues tomorrow to include name and retention.  So, hopefully, only 10 more hours and maybe we’ll know more…maybe.  But don’t worry, avise knows all!

Just my luck. After SB and MS get their big retention checks we will be at the only firm in the history of Wall Street that bought the brokers and their assets for 0. So basically anyone that stays is the kinda person that likes to get b_tch slapped and abused. Not my thing. I will leave. This is frickin pathetic! Hell, MS got loyalty bonuses!   

[quote=chief123]I am getting interested and I don’t even work their…I can’t imagine waiting at my desk to find out what the next 5 years of my life will be like and where…

[quote=Go_Long][quote=chief123]I am getting interested and I don’t even work their…I can’t imagine waiting at my desk to find out what the next 5 years of my life will be like and where…

Read your firm’s research on WFC…regardless of what firm you work with the report will say WFC is the best at cross selling and selling financial products to consumers.

[quote=avise]Not on the exec committee. 
[/quote]
There’s a shock.

[quote=avise]…the report will say WFC is the best at cross selling and selling financial products to consumers. [/quote]
How about cross selling some toasters to those “consumers” while you’re at it, avise?  Maybe some Tupperware too?