500 or bust?
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That would make no sense go_huskies… SB is paying retention and MER got retention.
People will not stand by and watch these other firms paying their people all while offering bigger checks to move their business. WFC will see losses of at least 50% of its broker head count and a MUCH higher percentage of those producing over 750KI don’t see why there is such a big problem in rationalizing retention programs. The structure of the forgivable loan is in line with the ‘clawback’ clauses that they are talking about today.
my ending comment was purely sarcastic, but wouldn’t be surprising…4 months without really looking at the brokerage ops???..WTF!!!
[quote=BukiRob]That would make no sense go_huskies… SB is paying retention and MER got retention.
People will not stand by and watch these other firms paying their people all while offering bigger checks to move their business. WFC will see losses of at least 50% of its broker head count and a MUCH higher percentage of those producing over 750K[/quote] Agree many will leave, but what they will find is that they will not get the deal that they think they will; even though they produce well they will get a "piker deal", too many people leaving at a time when this business will be nearly shut down for movers until all this garbage plays out.[quote=3rd ID] All I can say is its looking worse for ret. every day.
[/quote]
Hey troops, many firms offering respectable packages. Just give me a place to do my thing…$ or no $…let us b.
toss in the mess madoff and the other crooks added to the mix, and indy isn't that great an option now either. the margin squeeze from the oncoming regulatory tsunami will lessen the value of that channel immensely.
grab your ankles fellas...[quote=maddog]I don’t see why there is such a big problem in rationalizing retention programs. The structure of the forgivable loan is in line with the ‘clawback’ clauses that they are talking about today.
[/quote] This is precisely what the media doesn't get or Mr. President Obama. The "BONUS" word on "WALL STREET" usually is truly a bonus where they don't have to give it back. Why doesn't someone tell the difference between the two??? Ours is only forgiven if we stay the amount of time and produce to the bonus expectation. Welcome to the new socialism. I thought the U.S. had the guts to be different.gezz man
would you whinning AGE’s guys stfu
u got bought out
ur part of WS
deal with it
open your eyes and look around at the MF world
and BTW ex-WB WS is the best wirehouse-period
Its not Dannys fault that the entire free world is melting
i will say it AGAIN
DANNY is the gretaest ally of independent brokers EVER
WS is such a broker driven firm awesome
PF, finet, envision etc etc
the best.
Danny didnt buy the 135 billion of Oakland CA mortgages
that was the REAL dumb ass loser in all this
Einstein Ken Thompson
back off danny you bunch of whinning pussies
and AGE wasnt all that damn great anyway
and if u hate Danny so much
why dont u quit whinning and man-up and take 250% somewhere else.
my guess aint got the nads to move so u whine and trash dl
CDO Sq- you are a douche bag…period! DL does not walk on water. JH is a puppet and so are you. WS is not different then all the other POS wirehouses! Obviously you weren’t at AGE. Look, it wasn’t perfect, but this CF is just that, a FCF. Read all the integration stuff, it’s all nickle and dime: have a PDA, well that’s $21/mo to your net: discount, well that’s a $15 ticket charge…under $250k, well suck it up and pay $60…bottom line this is turning into a very broker and client unfriendly place to work…I think you might be JH or DL in drag.
[quote=BukiRob][quote=nestegg][quote=Sell High]
The AGE guys who just got hundreds of thousands of dollars are complaining the loudest. Just like the note above, they blame the fact the entire industry melted down right on DL after the firm gave you tens of thousands dollars about a year ago. [/quote] The reason AGE is complaining the loudest is because the whole industry DID NOT melt down..Wachovia, Merrill, MS, BofA etc did. AGE would not have just like RJ and Stifel have not...we would have been the largest independent brokerage left through this storm, and in an awesome place to take advantage of it...we were forced into this debacle and it was none of our or the company we signed up for's doing. To top it off the merger and integration has been a disaster...i know all the Legacy WS brokers can't seem to grasp all thsi because you have been fed the line that WS is the best firm on earth for too long..that maybe true compared to Wirehouses, but compared to where we have been it is no picnic at WS/Wells that is for certain...this company is as bad as working for the DMV! It is poorly managed at every level in comparison[/quote] I cant speak about Steifel but RJ has there own VERY serious issues with ARS.... And please you can not compare a small regional firm with firms that have 10-20 times the scale, scope, and assests.[/quote]LMAO at scale and scope......right out of Danny's book...you do realize that tagline is hogwash...explain to me what Wachovia has that AGE didn't have....answer nothing...more headaches maybe. I know RJ has the ARS issues...not sure how severe...Stifel had another record year last year...stock was UP in 2008, and refused the Tarp money....
DL is a brokers BEST ally.
I love the guy.
respect the hell out of him
root for him
leave then.
go to that peice of crap UBS
or MER is looking real good until Lewis makes then tellers.
or how about SB.
Danny is the man
Last time I heard that word was when region swung by 6 months ago and said the AGE guys are dying since they cant use it until next year.Envision??? That does not seem to be working out to well these days.
LMAO at scale and scope......right out of Danny's book...you do realize that tagline is hogwash...explain to me what Wachovia has that AGE didn't have....answer nothing...more headaches maybe.
[/quote] Ability to do Aircraft Leasing
[quote=maddog]
[/quote]LMAO at scale and scope......right out of Danny's book...you do realize that tagline is hogwash...explain to me what Wachovia has that AGE didn't have....answer nothing...more headaches maybe.
[/quote] Ability to do Aircraft Leasing[/quote] ticket charge?
[quote=CDO Squared]DL is a brokers BEST ally.
I love the guy.
respect the hell out of him
root for him
leave then.
go to that peice of crap UBS
or MER is looking real good until Lewis makes then tellers.
or how about SB.
Danny is the man [/quote]
Nice poem.
i believe danny is a stand up guy, but he's the skipper no more. rug's been pulled from under him and he's now just middle management.
i think the delay has been intentional by wells to establish the true pecking order in this organization. danny will likely regret making any retention promises, and he may well be looking to run a new firm by year's end. it sucks, but it is...
if it sucks that bad dont blame DL
blame ur management and board that cut the deal
all of a sudden AGE is the greatest firm ever
give me a break