Several regionals flew to St Louis tonight for meeting tomorrow…not sure what it is about

I love DL.

Check this out… This deal is certainly not off the table… Here’s an excerpt from a 2/8/09 article…

Analysts also said most investors would not want UBS to sell its activities in the United States now, after investing heavily to build up the businesses over the past few years. It is a reasonably large player in the United States, even though it has not yet managed to reach its goal of having $1 trillion in client assets under management.

But UBS also faces the necessity of downsizing the huge balance sheet it has built up as the collapse in credit markets has contributed to a widespread economic downturn. It invested billions of dollars in assets that now it cannot sell, and had to be rescued by the Swiss government in October.

The bank is struggling to control costs and capital, and would benefit from additional cash, even if the price it could get from selling assets would be lower than it hoped.

"UBS cannot expand this business. They haven't got the capital to develop it," said Alain Tchibozo, an ING analyst.... (end of article)

UBS/WS joint venture was hours for being a done deal.    
It was to be structured like PRU/WS with WFC a non-active owner (49%).   
DL was in Frisco at least 3 times and JFK (Wehawken, NJ ubs) twice.
The retention was going to be big. the idea being (DL pushed it) that FA’s have had basically 2 moves and AGE have been shafted.    The deal to UBS peaked at about 270%. the 1mm and above guys were to get 150-175 in ubs/ws combo. some was to be back end. This was cash.    these was some additional talk of restricted shares also. these was talk of making the AGE deal larger (legal issues). everyone would get paid down to 275 t12 (2008). 1mm-500m 80-100%.
WS would be the lead.   DL and St Louis would be home base.
NJ/Zurich would go away. UBS would give up on USA.   The Swiss govt was pressuring ubs to get back to basics.
A single reporter connected the dots and blew the deal open last week. UBS freaked out and backed off.   later saying “we have changed our minds and are committed to USA”. DL would be kind again.   no banks would be invovled and it would look more like an AG Edwards or the like.
WFC DOES NOT want the away from the bank brokerage. They want the in house bank FA’s (ISG, WFC advisors). This is where they beleive “cross selling” really happens. (read their info-they say it.)
They did not and do not understand or want to pay any up front to brokers. DL has been relentless in pushing for a retention.   The UBS/WS combo would have been a home run.
WS now is unwanted by the parent company.    It will be interesting to see how this develops.   all WFC wanted was out.
What happens now with a retention is anyones guess. I cant believe (and I do not know anything after deal blew up. my source was not there) WFC will be handing out big bucks. who knows.
All of this is legit

DL is to brokerage what Kenny Thompson was to banking.  The JV would be a disaster that would lead to lower payouts to brokers, higher fees to customers and even lower support levels in the branches and home office.  I truly believe that DL is looking for a big payday for himself to make up for his WB stock.  I don't think Wells has paid him his retention bonus either. 

[quote=mnbondguy]

DL is to brokerage what Kenny Thompson was to banking.  The JV would be a disaster that would lead to lower payouts to brokers, higher fees to customers and even lower support levels in the branches and home office.  I truly believe that DL is looking for a big payday for himself to make up for his WB stock.  I don’t think Wells has paid him his retention bonus either. 

Better yet, stop dropping tickets until there is an announcement.  Only
accept unsolicited orders.  It will pinch you a bit, but I bet a day or
two of no phones ringing on the trading desks and no trades coming in
over the wire will get their attention big time.
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Damn good idea. I say we all just sandbag any production for as long as possible and let them see who pays the freaking bills. Good old fashioned work stopage.

i still hold faith that DL is what he claims to be.
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You need to wake up. Helloooooooooooooooooooo!

So Ryedog is the only one that is going to call tommorow?
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No, Ill be calling as well. Its shit or get off the pot time.

I still think that if the UBS deal was really that close last week that some reporter connecting the dots would blow it up. If it was that close then, it is now. If its not, it never was.

eerrrrr…that the reporter finding out would not blow it up…or…something

[quote=3rd ID]Better yet, stop dropping tickets until there is an announcement.  Only
accept unsolicited orders.  It will pinch you a bit, but I bet a day or
two of no phones ringing on the trading desks and no trades coming in
over the wire will get their attention big time.
*****************************************************************
Damn good idea. I say we all just sandbag any production for as long as possible and let them see who pays the freaking bills. Good old fashioned work stopage.

[/quote]

That’s what I’m saying.  Screw the flood of phone calls to the boss who simply will not take them.  Let the silence be deafening instead.  After all, that will also get the attention of every employee on a trading desk, all the NYSE floor guys, the product and department managers, etc.  I doubt it will last more than 2 days if you guys and gals really stick together.  Call me crazy.

Guys cmon with the boycotting trade talk. I like the idea in principle but will anyone even notice. What percentage of our brokerage force are on these boards??? maybe 5 percent at most. Love the idea but no chance anyone will notice. If you had a way to communicate with the entire force it would work.

I like the concept too but almost 100% fee-based, oh well.

[quote=jimmymac24]Guys cmon with the boycotting trade talk. I like the idea in principle but will anyone even notice. What percentage of our brokerage force are on these boards??? maybe 5 percent at most. Love the idea but no chance anyone will notice. If you had a way to communicate with the entire force it would work.[/quote]

Don’t y’all chat around the coffee pot in the morning?

um, now that you’ve posted the home office number - how will they know if its an AGE/WS FC calling. You’re certainly not going to leave your name. With nearly 2000 replies and over 200000 views  . . . well, you do the math.

Couldn’t see the slide but if you read the FT article it is more clear that they are setting up more defined silos, for lack of a better word, to get each group standing on its own and so it can be seen how each group - to include investment banking versus wealth management versus asset management versus trading, etc. does.  It is a move for transparency while the public lines up at the castle doors with torches and pitchforks.

Be Patient doesn’t sound very patient anymore. Wht would we need to call JHif the announcement is going to be on Friday?

I guess I should start checking my grammer.