500 or bust?
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[quote=Sell High]
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.
[/quote] Sell High, First, the Manager do not know anymore than we do - there is no information other than the speculation from a delayed announcement that there would be no retention. Even though both JH and DL have already (numerous times) verbalized a retention. Second, there could be a partial truth in your statement......there will be retention for some, but not for others.....depending on your production. Without knowing - and hoping you don't go off on a tangent, but, maybe your manager was preparing you for no retention or minimal percentage. Not meaning to offend just trying to rationalize your statement.Scotsman, what are your sources? So your telling me Vegas story comes out today and all of the sudden they say no retention. You are full of shit unless you tell us exactly who these so called “reliable sources” are.
Ferris
I understand your anger I feel it too. But it don't look good. The only hope of retention is if we are spun off with UBS as a new entity. If that deal does not materialize unfortunately there won't be any retention.
BM call tomorrow is DL telling them UBS is a rumor and nothing more and how to handle the no retention issue. Be prepared to bow down and praise Wells for saving us because that in there mind is the retention package
[quote=gauge26]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.
200-350=20% 350-500=30% 500-750=40% 1mill+=50% The call tomorrow is for BMs only. I bet retention and name will be told to the BMs tomorrow. [/quote] Gauge, You missed a bracket: 750=1mill=??[quote=gauge26]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.
200-350=20% 350-500=30% 500-750=40% 1mill+=50% The call tomorrow is for BMs only. I bet retention and name will be told to the BMs tomorrow. [/quote] this looks absurd, are you serious? 200K 20% and a guy a 2 million 50%...Can not imagine they would give retention to brokers who are basically at the hurdle and getting 20% payout.I agree but that is what he said. He may not know what the hell he is talking about. We shall see.
Man this is getting good… I took off early just to get home to watch this drama unfold. It is like the Matrix in slow motion, I can just feeel the tensions.
Your lives are being controlled by others but you are too big of pussies to take control of your own destinies so you are trapped like slaves forever.
Roots?
Yeah, the book, not that movie sh!t.
See Scotsman theres your problem. Your comments ina matter of ten minuted went from “NO retention” to “doesnt look good”. Then you said “DL will say …”, you dont know what the fuck DL will say. The only person that knows that is DL and maybe Mrs. DL. Also, call tommorow is with Hays not DL you dumbfuck.
Be Patient
Please take you heart medication and clam down. We are all on the same sinking ship. I hope my sources are wrong but we will all know soon enough and I will have to give you the I TOLD YOU SOHoly shit, just got off the phone with DL. He said Scotsmen and gauge are fired and told me retention will be here in a week and is a sfollows
0-499k - BIG ZERO
500-999 - 100%
1mill + - 300%
He said his goal is to be the next Ben Edwards and take care of his guys. I said thank you Danny and broke out the Jarvis
It has been announced, no retention, merger with UBS will happen, home office will be in NY City, and Bob Bagby will be the new CEO.
Well, just to clarify, yes I absolutely qualify.
Next, there was no ambiguity about it - prepare them for the concept of no retention - period. I hope I was mis-informed but that is what I was told. No one said to keep it a secret either. That's what others were told doing over a million. That's the scoop. Don't shoot the messenger. I hate this. I sincerely hope I'm proven wrong tomorrow but I don't think I will be. And yes, they blamed it on TARP. Now, do you think TARP affects the 100% upfront bonus checks their cutting to bring brokers in? And if they pick up UBS - why pay us? 26,000 brokers after a UBS acquisition. I mean when you start thinking of the ramifications of that things really get unsettling. I absolutley hope it's wrong but that's what I was told. And they cancelled the broker trip - but not the mortgage broker trip. This is absolutley heading the wrong way.It has been announced, no retention, merger with UBS will happen, home office will be in NY City, and Bob Bagby will be the new CEO.
Bob would never have a chance!!!
I have been skeptical about retention since day one. Maybe because i am an AGE kind of guy and we did not even pay front money and I was just paid for my business 1 1/2 years ago. All the talk however from my bosses and DL JH etc indicated retention so I thought it would happen in some form or another. Today was the first day I felt like I was being prepaired for no deal.
For all the old school guys here; Looks like someone needs to find Dandy Don Meredith (monday night football) and get him ready to sing his old song “turn out the lights…”
retention will be out by Friday…not as attractive as the numbers previously posted…been told its Merrill witha 25% cut
Ding,ding,ding…we have a winner! Everyone is so busy name calling you guys completely ignored the final answer. This is the correct post. They are trying to spin off WS/AGE into a newco w/ UBS. If this deal gets done then the “retention” has no upfront cash. Just restricted unlisted stock. Worthless.