Skip navigation

500 or bust?

or Register to post new content in the forum

3938 RepliesJump to last post

 

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Jan 26, 2009 10:22 pm

AGE/WS/c?/WFC? guys are awfully quiet today. . .

Jan 26, 2009 11:47 pm

[quote=WSxAG]

AGE/WS/c?/WFC? guys are awfully quiet today. . .

[/quote] Mass Exodus???
Jan 26, 2009 11:53 pm

[quote=ryedog123]

Timing on retention announcement IMO:

25% chance it will occur this coming week

40% chance it will happen the first week in FEB

15% chance of 2nd week in FEB   10% other   10% Never [/quote]   Think I would lower this week a little. 
Jan 27, 2009 12:12 am

Most has already been said. Heres what we know…



1. Danny was in S.F. last Thursday/Friday

2. Wells needs to look over proposal, fine tune and approve

3. Retention needs to be passed through legal

4. Hays said "Right around corner: be patient



Therefore I would imagine the week of February 9th

Jan 27, 2009 12:15 am

This is just plain ascinine.  I cannot believe how long this has gone on and how badly it has been handled.  I can only conclude at this point that THERE IS NO RETENTION PACKAGE, and if they do come out with something it will  be a lowball deal that is all screwed up like this whole process has been.  Can’t stand it anymore.  I am getting out of this (expletive deleted) firm!!

  Going independent is kind of a pain, but at least I will be responsible for what happens to me and my clients.
Jan 27, 2009 12:15 am

[quote=BE PATIENT] Most has already been said. Heres what we know…



1. Danny was in S.F. last Thursday/Friday

2. Wells needs to look over proposal, fine tune and approve

3. Retention needs to be passed through legal

4. Hays said "Right around corner: be patient



Therefore I would imagine the week of February 9th[/quote]



What about the name of our firm???

Jan 27, 2009 12:17 am

I am starting to believe the suggestion they were waiting until the conversion to deliver the bad news.  Make it easier for legacy WS to get accounts. 

Jan 27, 2009 12:33 am

You guys with your conspiracy theories. Yes, I believe Wells Fargo got together with Ludeman and Hays, said “Keep telling the brokers retentions around the corner, be patient”. Then when the conversion is here we will pull the rug out from under them. Please tell me you are not that stupid.

Jan 27, 2009 12:37 am

Danny's modified retention was rejected AGAIN last week in SF. WS to be sold soon so retention will come from aquiring firm. ISG nothing.

Jan 27, 2009 12:45 am

[quote=frickster]

Danny's modified retention was rejected AGAIN last week in SF. WS to be sold soon so retention will come from aquiring firm. ISG nothing.

[/quote] I doubt Wells will sell it, there are no buyers except for maybe Goldman.  I could see them wanting a retail brokerage firm, and they have the capital to do it.  Problem is that Wells would lose 50billion in the money sweep program that is about the cheapest cost of money a bank can find.  It makes more sense to spin off and retain a minority ownership.
Jan 27, 2009 12:47 am

man   no retention.



im outta here

Jan 27, 2009 12:49 am

[quote=short it] man   no retention.



im outta here[/quote]



Don’t believe the hype. When WS bought AGE there was a retention thread here as well that had a bunch of douchebags claiming zero retention. You can search for it.

Jan 27, 2009 12:53 am
Reggin:

[quote=short it] man   no retention.

im outta here[/quote]

Don’t believe the hype. When WS bought AGE there was a retention thread here as well that had a bunch of douchebags claiming zero retention. You can search for it.

  WS bought AGE who was a brokerage firm. WFC bought WB, a bank and the brokerage came with it..think Wolfgang called it like getting a side of beans when you order a combo plate at a Mexican Restaurant.   The beans come with it, dont have to eat them.
Jan 27, 2009 12:56 am
Reggin:

[quote=short it] man   no retention.

im outta here[/quote]

Don’t believe the hype. When WS bought AGE there was a retention thread here as well that had a bunch of douchebags claiming zero retention. You can search for it.

 
That is true BUT that thread was not 86 pages long!!!
Jan 27, 2009 12:56 am

Yeah, who are you going to believe, Reggin or your lying eyes? This is just like the AGE/WB deal - Great news! Then the WB/C “deal” - Great News! Now the WB/WFC deal - Great news!
 I make NO preditions regarding retention. I will say that in my grandest imagination, I could not have come up with a make-believe scenario that is worse than what has actually happened during that whole process.

Jan 27, 2009 1:00 am
YHWY:

Yeah, who are you going to believe, Reggin or your lying eyes? This is just like the AGE/WB deal - Great news! Then the WB/C “deal” - Great News! Now the WB/WFC deal - Great news!
 I make NO preditions regarding retention. I will say that in my grandest imagination, I could not have come up with a make-believe scenario that is worse than what has actually happened during that whole process.

  Your right, but how about Wachovia Securities back as a stand alone company?? I think that would be the topper.
Jan 27, 2009 1:11 am
YHWY:

Yeah, who are you going to believe, Reggin or your lying eyes? This is just like the AGE/WB deal - Great news! Then the WB/C “deal” - Great News! Now the WB/WFC deal - Great news!
 I make NO preditions regarding retention. I will say that in my grandest imagination, I could not have come up with a make-believe scenario that is worse than what has actually happened during that whole process.

I hate to agree with you but, this whole thing since about May 2008 has turned into a soap opera and it's grown very old: Great UBM (univ. bk model) w/ WB couldn't be better, WB is a strong firm and we are  lucky to be associated with them, WB goes bust, great being C, oops, we are indy and that's great too, no wait we are WFC...and obviously there is is "no love"...WTF!  I was willing to give them the benefit of the doubt but this is now officially silly.  Lost 3 Good CC producers that are close friends recently...they just lost patience....all went to either RJF, SF or UBS... I guess they (DL & Co.) win....I am just too tired doing everything else in this mkt to care anymore.  Retention, no retention, WF Advisors, spin-off, F it! I give up. Writing is on the wall.  I am waiting to hear what/where we are and then either FiNet or outta here! (leaning more to FiNet).  Great offers out there, just don't know if I want to subject myself to more BS.....dispondent and depressed.......  
Jan 27, 2009 1:13 am

Ferris - One firm interested in WS right now, not Goldman.

Jan 27, 2009 1:22 am

[quote=mnbondguy][quote=frickster]

Danny's modified retention was rejected AGAIN last week in SF. WS to be sold soon so retention will come from aquiring firm. ISG nothing.

[/quote] I doubt Wells will sell it, there are no buyers except for maybe Goldman.  I could see them wanting a retail brokerage firm, and they have the capital to do it.  Problem is that Wells would lose 50billion in the money sweep program that is about the cheapest cost of money a bank can find.  It makes more sense to spin off and retain a minority ownership.[/quote]
What is the money sweep program?> If it is the cash balances in the brokerage accounts, then that money is not available for general corporate purposes to the bank. It is not the same as bank deposits.
Jan 27, 2009 1:32 am

the deal i was looking at just went BYE BYE.

manager said he would call me   

there is no retention.

wfc doesnt want ws

there wont be any deals soon