500 or bust?
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That would be so far beyond obnoxious it would be funnyretention will be out by Friday…not as attractive as the numbers previously posted…been told its Merrill witha 25% cut
Let's review what our great management has convayed to us in the past few weeks:
1. There will be retention, just be patient....repeat, repeat, repeat....apply as necessary. 2. DL says that we are great there will be retention.... 3. DL says that we are great but be patient. 4. JH says that we are great but be patient. 5. Reg. Pres. (RP) say we are great too and there is retention and eventually a name. 6. Some RP's say there is no retention, the name is WF Advisors and suck it up and get to work. ohh and 'LEAD' (vocal emphasis) by the way...I guess that means to quit sucking your thumb. 7. Different RP says the UBS rumor is just that. 8. Another RP says there may be more truth to the rumor than we thought. 9. RP says well at least we are buying UBS but this whole thing is just rumor don't worry about it...but keep recruiting! 10. Same RP says I don't know what the HeLL is going on. Great guidance and wisdom.....I heard today that hourly wage earners at Chrysler got 50k and a 25k gift certificate for a car to just walk away.
If auto companies can hand out tarp money so can banks. Crazy ass story about UBS, though.
Sell High, do you work west coast fla?
anyone have a guess as to what number will be used for trailing 12 months, if there is retention?
date of acquisition, 1/1/08 to 10/2/08 annualized like BAC used for MER? 12/31/08 full year? or january or february, 2009 - which would be a lower trailing 12 for most?
Man this thread is on FIRE tonight!
You boys will bust a 150 pages after tomorrows callSo if there is a deal with UBS in talks - and they lifted ISG out and will be part of the WFC bank channel - what is the actual number of reps remaining. With the attrition, regrettable or not, there cannot be 16,000 reps still at WS/AGE. Some of you guys seem to be BM and I believe there was an RP that posted a while back. What number would be a close estimate of the broker count remaining (excluding ISG)?
Well according to the latest suth-sayer-sages: 0 X any# = 0anyone have a guess as to what number will be used for trailing 12 months, if there is retention?
date of acquisition, 1/1/08 to 10/2/08 annualized like BAC used for MER? 12/31/08 full year? or january or february, 2009 - which would be a lower trailing 12 for most?
There are a couple of articles in the WSJ after the close today that paint a UBS - WS deal way off. It is a reporting/opinion pience with no comments from either firm. The way I see it is this: Wells really has never wanted WS. C came in at $2 B for the bank but that’s it. Then WFC come to the resuce with $7B for the sink and all. But they (WFC) have never really done this business (their little bank brokerage operation doesn’t count). It’s like a estate buyer buying the lot but just wanted the antique bedroom suit. Buys the lot for a price he was will to pay for the suit, then sells the other stuff to bring his price for the suit down and now it is a bargain.
UBS has had its problems early. They got the equivalent of TARP from the Swiss gov't. Then the stupid tax evasion scheme which the US gov't won't settle (and UBS is trying). UBS has defections due to the two above. The heat starts to turn on to spin off UBS USA while there is value since the mother ship keeps drawing fire. UBS management stays on radio silence for months. Wells convinces its newly acquired advisors that "we are almost there" for everytime the question is asked, "are we there yet?" Meanwhile they are figuring out what in the world they're going to do with this huge business they have never run? Talks start with UBS. UBS wants top dollarfor their company, they'll run the show. Wells scratches its head and wonders what they've gotten themselves into. They stall. UBS doesn't realize the dance is over and holds out for some wonderful deal. The date never works, nothing happens. That's how I am reading the news and the tea leaves. I will say - that if a UBS WB deal eventually happens (and somebody would have to have a massive change) it would be Wells handing WS to UBS to run with Wells backing off with a percentage like Pru did. The above is my own idle speculation and not from some 5th hand rumor.[quote=shredder]
So basically, the retention is somewhere between 0 and 200%
[/quote]Now someone finally got to right
If NO RETENTION ends up being the final answer, RR could make this thread available only on a “pay per view” basis. This thing will be absolutely out of control.
What’s a bigger waste of time? A WS conference call or 142 pages of this nonsense?!!!
I'd say its a toss-up.I think AGE is down 1500 brokers for one reason or another since the merger anouncement. Started at 7000 round numbers. Do not know about WS numbers before or now. No way 16000 total today.So if there is a deal with UBS in talks - and they lifted ISG out and will be part of the WFC bank channel - what is the actual number of reps remaining. With the attrition, regrettable or not, there cannot be 16,000 reps still at WS/AGE. Some of you guys seem to be BM and I believe there was an RP that posted a while back. What number would be a close estimate of the broker count remaining (excluding ISG)?
I heard the same thing about retention not being paid due TARP and other scrutiny. I sincerely hope I’m wrong.
mer paid ms,sb will pay retention. so will wells. All received TARP. Wells didnt even need (want) TARP.
The issue is TARP, WFC does not want to be seen giving bonuses when they recieved TARP $$. We all know they did not want or need it but at this point it is about perception in the media. My source is telling me that they are trying to come up with something that will keep brokers in their seats and it will involve significant increases in deferred comp. No cash now but nice rewards for those who stay.
Its not a bonus. Its to retain the brokers. It is a forgivable loan. Everything I have seen is that the media is up in arms about big executive bonuses not broker retention. Very little was said when MER paid its brokers retention.
I believe that Obama said he may ( I said may) want to investigate "retention bonuses" and see about getting some of it back. That could be what has spooked everything in the past few days???Just speculation on my part.mer paid ms,sb will pay retention. so will wells. All received TARP. Wells didnt even need (want) TARP.