<SPAN =SubSuber>All-Associate Call at 1:00 p.m. ET on Friday, December 19 - Monthly Update with Danny Ludeman  

Time:1:00 p.m. ET (12:00 p.m. CT)
Dial-in: 877-790-0534
International: 706-634-0882
Conference ID: 78890535

Call Replay information:
Dial-in: 800-642-1687
Int'l: 706-645-9291
Conference ID: 78890535

Darn It! I have a lunch meeting with Smith Barney. Can someone keep track of the number of “ummms” that come out of DL’S mouth and post the results here. WFC slapped investment banking in the face by cutting their bonus 90%, how do you think they are going to treat us?

WFC has been clear that they are not interested in investment banking so cutting their bonus is no surprise.  How they really feel about the brokerage business is still a mystery.  So far they have treated it like a hungry kid treats the toy in a Happy Meal - It gets tossed aside while the kid grabs the fries and mumbles, “Yeah that’s neat, but I’ll get around to it later.”

This is RIDICULOUS we wont know anything until mid January!? Just what in god’s name has management been doing? We were supposed to know around thanksgiving… now who knows.   Words can not express how disappointed I am in management. This comes off as management having zero clue as to what they are doing and/or they simply dont give a rats ass. WTF even bother with a conference call if all you are going to say is nothing???    

On the bright side he compared us to soldiers in the trenches during WWII.

On the bright side he compared us to soldiers in the trenches during WWII.

[quote=Reggin] On the bright side he compared us to soldiers in the trenches during WWII.

This is bull in every way. He’s going to START working for us after the holidays? Good grief Charlie Brown

For those of us who watch NASCAR only for the crashes - please expound on the conference call/pep rally/wake  today

[quote=Hank Moody]

[quote=BukiRob2] [quote=Reggin] On the bright side he compared us to soldiers in the trenches during WWII.[/quote]



The problem is management is the ones shooting at us![/quote]I have an idea…why don’t you get back to building your business and not worry about what management is doing. Whatever it is, it won’t be in your favor. Deal with it. Either leave or get back to work. [/quote]



I have a better idea why dont you worry about your business instead of mine.

[quote=BukiRob2] [quote=Hank Moody]

[quote=BukiRob2] [quote=Reggin] On the bright side he compared us to soldiers in the trenches during WWII.[/quote]



The problem is management is the ones shooting at us![/quote]I have an idea…why don’t you get back to building your business and not worry about what management is doing. Whatever it is, it won’t be in your favor. Deal with it. Either leave or get back to work. [/quote]



I have a better idea why dont you worry about your business instead of mine.[/quote]


My job is to worry about those who are prone to violent emotional reactions to shapes and symbols on their computer monitors. You fit the bill.

[quote=Hank Moody]

[quote=BukiRob2] [quote=Hank Moody]

[quote=BukiRob2] [quote=Reggin] On the bright side he compared us to soldiers in the trenches during WWII.[/quote]



The problem is management is the ones shooting at us![/quote]I have an idea…why don’t you get back to building your business and not worry about what management is doing. Whatever it is, it won’t be in your favor. Deal with it. Either leave or get back to work. [/quote]



I have a better idea why dont you worry about your business instead of mine.[/quote]My job is to worry about those who are prone to violent emotional reactions to shapes and symbols on their computer monitors. You fit the bill. [/quote]



Listen zippy, mind your own business and stay out of mine. Clear enough for you ? The only real flaw on this site is there isnt an ignore button. You fit that candidacy very, very well

[quote=BukiRob2] [quote=Hank Moody]

[quote=BukiRob2] [quote=Hank Moody]

[quote=BukiRob2] [quote=Reggin] On the bright side he compared us to soldiers in the trenches during WWII.[/quote]



The problem is management is the ones shooting at us![/quote]I have an idea…why don’t you get back to building your business and not worry about what management is doing. Whatever it is, it won’t be in your favor. Deal with it. Either leave or get back to work. [/quote]



I have a better idea why dont you worry about your business instead of mine.[/quote]My job is to worry about those who are prone to violent emotional reactions to shapes and symbols on their computer monitors. You fit the bill. [/quote]



Listen zippy, mind your own business and stay out of mine. Clear enough for you ? The only real flaw on this site is there isnt an ignore button. You fit that candidacy very, very well[/quote]

When you put your business on the internet, it becomes all of our business.

If it makes you feel any better, my payout is 90% on securities and 100% on everything else. Also, my destiny is in MY hands and not those of “management.”

Did anybody get an “ummmm” count on that stammering YES man?

Now its mid Jan to find out??? Earlier this week it was right after new years, That to me means  by like Jan 5. NOT JAN 25.!!! Better be over 75% at this point for 500k producers. There wont be any deals by mid Jan to take. Maybe is best to take the 200% now and at least you know.

[quote=3rd ID]Now its mid Jan to find out??? Earlier this week it was right after new years, That to me means  by like Jan 5. NOT JAN 25.!!! Better be over 75% at this point for 500k producers. There wont be any deals by mid Jan to take. Maybe is best to take the 200% now and at least you know.
[/quote]

50% for the big guys at best.  I’m saying it now, tell me I’m dead wrong later IF I am. I’ll come in and eat crow in that event.
This is going to go down and most overplayed and underwhelming “retention” deal in recent years.  It’s going to be fairly flat. Relatively small for the big producer and decent for the small guys.

I did hear that they are making progress.  Danny said today that he thinks it might go past the holiday.  I was also told that it is possible for the 23rd.  Either way, the deals all are getting to the point that you have to sh*t or get off the pot.  If your day comes and you stay you are subject to the consequence of the offer getting discounted.  Tough choices.  I have to think that a material retention is coming.  In St Louis, Jim Hayes even went so far as to say that the offer is geared towards higher production and will be net after subtracting any current unforgiven efl balances.  If after all this time has passed, the offer comes out and is less than the deals that were offered at merrill and the other firms people with real a real practice will leave.  Not just for the check, but for the statement that a less than deal will represent.  WFC may not have wanted a brokerage firm, but they have one now and they will not only have to show us the money, but do damage control and make us feel that they want us.  At this point, no communication from WFC like "welcome or we repect what you do or we want you and need you." The window is closing and their opportunity to make things right is too.  I still believe the deal will be offered.  If not Wachovia Securities or Wells Fargo Advisors will lose their best talent.  Think about it...80 percent of the business is done by 20 percent of the brokers.  They will pay.  Not becasue they want to, but because they have to.  If not, you and hundreds more are gone within weeks.

At this point, I suspect that if a WB/WCF official were to personally walk into every AGE/WB broker’s office and spit directly into his/her face, many would wipe it off and decide to “stay put, wait and see what happens”.

[quote=timetogo]

I did hear that they are making progress.  Danny said today that he thinks it might go past the holiday.  I was also told that it is possible for the 23rd.  Either way, the deals all are getting to the point that you have to sh*t or get off the pot.  If your day comes and you stay you are subject to the consequence of the offer getting discounted.  Tough choices.  I have to think that a material retention is coming.  In St Louis, Jim Hayes even went so far as to say that the offer is geared towards higher production and will be net after subtracting any current unforgiven efl balances.  If after all this time has passed, the offer comes out and is less than the deals that were offered at merrill and the other firms people with real a real practice will leave.  Not just for the check, but for the statement that a less than deal will represent.  WFC may not have wanted a brokerage firm, but they have one now and they will not only have to show us the money, but do damage control and make us feel that they want us.  At this point, no communication from WFC like "welcome or we repect what you do or we want you and need you." The window is closing and their opportunity to make things right is too.  I still believe the deal will be offered.  If not Wachovia Securities or Wells Fargo Advisors will lose their best talent.  Think about it...80 percent of the business is done by 20 percent of the brokers.  They will pay.  Not becasue they want to, but because they have to.  If not, you and hundreds more are gone within weeks.