https://www.thinkadvisor.com/2023/08/22/schwab-moves-to-raise-debt-after-news-of-job-office-cuts/
17 replies (most recent on top)
Crawford only knows how to balance a Chromebook. He though it was the same thing as a checkbook.
Its clear Crawford has no idea how to balance a checkbook.
Fire him and stop the waste.
Schwab may be bought out
They need to acquire something that has significant deposit potential - since they no longer charge for trades they rely heavily on the deposits from customers to generate revenue
They've seriously looked at snagging Robinhood. Bring back Quirk!!!
Fido is very doubtful, the only thing to consider is they haven't done anything (dispersing of assets), since Ned died. If anything it would be pieces of the firm they would sell. FMR though would probably be a piece to hold on to though.
Schwab does not have what it takes to acquire anything anymore. TDA blunder is still haunting them and will for near future. They just destroyed 2 companies.. Schwab and tda.
@1tui+1oeqkn1j is crazy. Schwab could not acquire Fidelity even if it wanted to. They have $11.7 trillion (with a 'T') in assets and over 57,000 employees. $20B is not enough.
Water is not wet...it makes other things wet. ;)
Purchasing a new Fintech with customers but worse financials and great infrastructure in this environment if they have the cash makes a lot of sense.
They are looking to acquire Fidelity. They want the mutual funds.
The music might stop and the Feds take over Schwab. Hope that doesn’t happen though:
https://www.youtube.com/watch?v=sAAkyA_tYfY
Think the potential acquisition could be an insurance company? What would they want to buy in this environment?
That’s actually an interesting theory and makes me wonder if there is something more going on… I find it odd that MDs and above signed NDAs. Layoffs are a normal part of the business cycle and not necessarily something that needs to be so secretive. Maybe they are planning an acquisition…
Sir, my model just says the music is slowing. If it were to stop as you put it, this model would not anywhere near what it is projecting.
You know why I get the paid big bucks? Let me tell you. Because I sit here in this chair and guess when the music slows. I can tell you right now I hear nothing. Nothing.
“Schwab last tapped capital markets in May, selling a $2.5 billion blue-chip bond. That marked its first debt issuance since a series of regional bank failures rattled the broader banking industry, beginning in March.”
+ $2.35B for a total of $4.85B …maybe “the music is just slowing”…
I could see this making possible good business sense when interest rates were so low. With rates being where they are today, this speaks volumes about where the finances are right now.
The only way I could see this making sense if the company was looking at a large acquisition of some sort, but given the pending layoffs that doesn't seem likely.
OMG. a corporation with $20B revenue selling a bond to finance it’s short dated cash needs!
In other news: water is still wet.