500 or bust?
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Does anyone think the recent stock price of WFC is going to have an effect on retention?
If you listen to Ferris and Be Patient they would say "its a positive the stock is dropping, because they will realize how important WS is to turn their company around"..or it could be that WFC is dropping because "WS and AGE guys are already leaving and the street is getting wind of it". Either way according to them retention will be here soon and probably double what it was going to be 2 weeks ago.Does anyone think the recent stock price of WFC is going to have an effect on retention?
I hope we get an offer but in this enviroment hope only gets you elected president.
I do not think we will see a thing nobody cares about what we want. It is a shame what our industry has turned into post spitzer and now post tarp.Does anyone think the recent stock price of WFC is going to have an effect on retention?
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Look where BAC is. Last I checked they were still paying.
However, WFC can find many ways to use this information and the recent drop in financials NOT to give retention. 1. Too much publicity to bank stocks - too visable 2. Earnings to be announced at month's end 3. Fall in their own stock price 4. What would shareholders think? 5. What would the media think? 6. What would the government thing in light of TARP? 7. Will they cut their dividend? If so, offer retention on top of that? 8. How would that go over (#7) 9. They plan to spin us off 10. PCG/AGE/FiNET is not in the business mix for them, but ISG is. on and on and on.... The longer they wait, the worse the financial stocks get, the more media coverage is paid to the financials, and WFC is scared to do anything. They cannot ride underneath the radar...WOW - how's that for the odds?? TARP THIS! To the guy surfing these posts - TARPON - go ask Uncle Obama to restore your portfolio. You may get TARPED.Does anyone think the recent stock price of WFC is going to have an effect on retention?
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Look where BAC is. Last I checked they were still paying.
And you don't think if they waited 30 days to make the announcement things would be very very different? None of you has actually answered my question. Soooooooooooooooo if there is NO retention or some 100% back end deal where will you go??Does anyone think the recent stock price of WFC is going to have an effect on retention?
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Look where BAC is. Last I checked they were still paying.
To the guy surfing these posts - TARPON - go ask Uncle Obama to restore your portfolio. You may get TARPED. [/quote] I'm a broker moron. My clients have been primarily out of the market for 6-14 months. Doesn't anyone on this board do what they got hired to do..............buy and sell stocks? The quicker you can change your "hat" the faster you will get your income back on track. I predicted this banking mess Jan of 2008 on another public website and laid out the tradgey to come. If you don't see the TRAIN WRECK that is coming in the next 6 months you will be out of this buisness. Stop waiting and hoping for your own bailout and get on with bailing out your book.[quote=showmethemoney] Does anyone think the recent stock price of WFC is going to have an effect on retention?
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Look where BAC is. Last I checked they were still paying.
I’ve been lurking on this thread. You are all a bunch of pathetic
loosers! Why does your firm owe you anything? You got a job don’t
you. With the banking stocks on the elevator down the last thing they
want to do is hand a billion dollars out to a bunch of whiney brokers.
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You obviously are not in the biz, right? Lets see how you react next time your employer tells you you will receive a bonus and then leaves you flapping in the wind for 3 months and basically tells you nothing. If you really read the majority of the posts I think you would be able to ascertain that more than anything we want honesty and straightforwardness. Alot of guys could have taken deals before year end and held off as they were led to believe that they would be retained here. If you were in the biz, then you would understand that retention is just part of the biz. If no retention is paid then a good many people possibly made bad decisions for their career and their family’s well being because they were led to believe something that wasn’t true, if in fact they do not pay ret. If you were one of those people, dont you think you would be just a bit pissed off right now? I dont mean to put the client on the back burner, because we care about our clients, but we are in business to make money and most of us are able to balance making good financial decisions for ourselves and making sure the clients are well taken care of at the same time.
For some that meant leaving the firm for a deal elsewhere, and they have not been given good enough information to make that decision.
To the guy surfing these posts - TARPON - go ask Uncle Obama to restore your portfolio. You may get TARPED. [/quote] I'm a broker moron. My clients have been primarily out of the market for 6-14 months. Doesn't anyone on this board do what they got hired to do..............buy and sell stocks? The quicker you can change your "hat" the faster you will get your income back on track. I predicted this banking mess Jan of 2008 on another public website and laid out the tradgey to come. If you don't see the TRAIN WRECK that is coming in the next 6 months you will be out of this buisness. Stop waiting and hoping for your own bailout and get on with bailing out your book.[/quote] be careful who your calling "moron" FB is a "Rainmaker"[quote=Vet20][quote=showmethemoney] Does anyone think the recent stock price of WFC is going to have an effect on retention?
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Look where BAC is. Last I checked they were still paying.
How about another public prediction about what people should do now to “bail out their book” over the next couple years, genius?
My clients have been primarily out of the market for 6-14 months.
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Just curious to know if all your clients have been out of the market for 6 to 14 months, then what are you doing to make a living? Legit question, not meant as sarcasm.
[quote=Ferris Bueller] [quote=fritz] [quote=Tarpon][quote=Vet20][quote=showmethemoney] Does anyone think the recent stock price of WFC is going to have an effect on retention?************************************************Look where BAC is. Last I checked they were still paying. [/quote]
To the guy surfing these posts - TARPON - go ask Uncle Obama to restore your portfolio. You may get TARPED.
[/quote]
I'm a broker moron.
My clients have been primarily out of the market for 6-14 months. Doesn't anyone on this board do what they got hired to do..............buy and sell stocks? The quicker you can change your "hat" the faster you will get your income back on track.
I predicted this banking mess Jan of 2008 on another public website and laid out the tradgey to come. If you don't see the TRAIN WRECK that is coming in the next 6 months you will be out of this buisness. Stop waiting and hoping for your own bailout and get on with bailing out your book.[/quote]
be careful who your calling "moron" FB is a "Rainmaker"[/quote]
Moron would be you for not seeing that he was referring to showmethemoney. As for the rainmaker part, you never did share with us your T12. Please, we could all use a good laugh.[/quote] Apologies for getting you confused with someone else, I take it back. My T-12 was 42K and think this year I can grow it even in this market
Ferris… My original post said in reply to this
Does anyone think the recent stock price of WFC is going to have an effect on retention?
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Look where BAC is. Last I checked they were still paying.
Why would this elict a response calling me a moron"
I think he was pissed at the guy who said this:
The last 10 or 15 “tampon” posts are killing me!!
I love the “My clients have been out of the market” responses… no way is this guy to be found on a quick FINRA search!
Off topic for a second…any former Merrill FA’s here get a notice that you have money in a 401k at ML? I have been out of there for 8 years. Rolled my 401k when I left. I get a 401k statement in the mail today (first one since I left) and there is on the sunnny side of 1k in it. I call ML up earlier and they said it was from some settlement. Rep says he got a lot of calls today and their were some pretty large settlements guys are getting and had no idea about. Anyone else here in that situation?
Holy Sh$T did I strike a cord! What have you done lately for your book? Hope and pray? Sit and hold on? Hey, some clients will never sell no matter what. Did you just put clients in an asset allocation model or with some outside money manager? How’d they do in '08. Oh yeah, they were “only” down 28%. They beat the market.
You guys have your panties in a bunch big time. Yes I did post on a public website about banking insanity and that we were at most 50% of the way there. THAT proved way too conservative. Care so bet me some cash and I'll priove it to you? I'll go ahead and throw you a bone on my "magic" When I started in this business onWall Street in the 90's most of my business was cold calling on GNMA's. Well, what's old is what's new. Sitting in GNMA's for conservatve clients over that last year or so was the right call. Did any of you ahole$ hear WARREN BUFFET sell his PTR about 14 months ago. DO you follow Dorsey Wright? When China was overbought 200% and Warren was out.............................. SO WAS I. I have been doing limited shorting for "traders" Did I school you or what you pathetic "wait and seers!" I'll be waiving to you in the unemployment line as I drive by in my NSX.
PLEASE no more idiots say “My clients have been out of the market for 6+ months” because its a lie. Stock price decreasing has as much effect on no retention as stock price increasing making our retention more.
Also, Hays call this Thursday will be blah, blah blah, not about retention. Danny was in St.Louis today, I thought he was supposed to be in SF for retention talk. Hopefully by end of month SOME news on retention.