Wells Fargo & Co. (WFC), which received $25 billion in taxpayer bailout money, is planning a series of corporate junkets to Las Vegas casinos, the Associated Press reported Tuesday. The bank has booked 12 nights at the Wynn Las Vegas and its sister hotel, the Encore Las Vegas, beginning Friday. The hotels will host the annual conference for company’s top mortgage officers. In addition, Wells Fargo’s insurance division is hosting a 40-person meeting at the Mandalay Bay Hotel in Las Vegas starting Feb. 25.“Recognition events are still part of our culture,” a Wells Fargo spokesman said. “It’s really important that our team members are still valued and recognized.”

That is an example of colored journalism.   First off Wells did not want TARP money.  The Treasury forced the money on all large financial institutions because they did not want to color who was in trouble vs who wasnt in trouble to avoid a run on banks.  

[quote=WSxAG] Wells Fargo & Co. (WFC), which received $25 billion in taxpayer bailout money, is planning a series of corporate junkets to Las Vegas casinos, the Associated Press reported Tuesday. The bank has booked 12 nights at the Wynn Las Vegas and its sister hotel, the Encore Las Vegas, beginning Friday. The hotels will host the annual conference for company’s top mortgage officers. In addition, Wells Fargo’s insurance division is hosting a 40-person meeting at the Mandalay Bay Hotel in Las Vegas starting Feb. 25.“Recognition events are still part of our culture,” a Wells Fargo spokesman said. “It’s really important that our team members are still valued and recognized.”

Guess what…

This is turning into a major clusterfk. Its fascinating in that its like a slow motion trainwreck happening right in front of us. Whats next ? fk me. 

So glad to see that 6 analysts have left the firm.   90 stocks no longer followed…oh what the heck, never trusted their recommendations anyway.   More retention for us!!!

What's your source of no retention??

At this point, it wouldn’t surprise me a bit.  The only thing that would surprise me is to actually hear DL/JH communicate any type of relevant news to us.

I thought there was a call tomorrow that was going to spell out the name and retention? Is that still the case?

Since the call tomorrow is late afternoon - I doubt there would be anything concrete about retention or possibly even the name.  That call would be earlier in the day, prior to a broker call, to prepare the BM for questions by reps. 

Asked our Complex guy point blank about WS being shopped two weeks ago and he said sternly NO.  Asked him today and he seemed confused and stunned about the UBS news.  I dont think any of these guys have the slightest clue about anything, name, retention, WFC  not wanting the brokerage etc.

Heard today that there will not be any retention at all. 

Sell high, your a Dick. Anyone know how to ban somebody from posting ont he forum, because out of 138 pages his was the worst. Love it when people like Scotsman start with “heard today” as if Danny called him personally. Hey Sctsman, you hearing voices?

I was told that by a manager - maybe they'll change their mind but for now, don't plan on it for anyone.  Let them down easy... In other words, no retention.  I've been very optimistic on the whole situation so far - so no, I'm not making it up.  I wish I were.

his source is his ass

Asked our Complex guy point blank about WS being shopped two weeks ago and he said sternly NO. Asked him today and he seemed confused and stunned about the UBS news. I dont think any of these guys have the slightest clue about anything, name, retention, WFC not wanting the brokerage etc.

I wish

Boysz…here is the latest…knew about the ubs deal a week ago.

1) JHays conference call to all AGE/WS mgrs is about the final conversion of AGE into WS.



2) Retention and name will be anounced in a few days



3) AGE/WS/Wells/UBS is a better than 50/50 deal but not done deal yet…should have more info in a day or two but it would likely be an independent entity with Wells keeping majority ownership or Wells and UBS spinning both off into an independent firm. If that happens then the retention will be 100% trailing 12 for everyone over 300k annually

in the new stock (esop). This will basically be worthless until a new bull mkt materializes and the company goes public…then its pay day. …big assumption is will we have a bull market again for this to happen

also…mkt managers and complex mgrs arent tuned in because most are WS people…u have to talk to AGE managers who still know 95% of the St Louis people and can still get good info…ve have our vays.

Was on a managers call with the complex manager.  He said that we would have a retention package.  he said DL went to Wells with this.