Thread regarding Wells Fargo & Co. layoffs

@ejx, no, I'm talking about the people doing the governance.

I'm talking about how so many of our corporate and political leaders are clueless.

Maybe educated, but utterly clueless.

LIke Saul with Agile.

Agile is a method for updating ToDo lists, it's not a strategy. It's a buzzword on par with The Cloud.

And don't get me started on the 6 S's. Our motto is a listicle.

It's not inspriing. There's no vision and no leadership.

And now that I sound like a pompous internet troll, and will bow out.

Stay safe.

@cwd

So fair enough, what you are referring to is less about educational attainment and more about corporate governance.

Publicly owned companies will always prioritize shareholders (and profit in the short term) over other stakeholders. That’s the game. Big executive salaries are really a drop in the bucket compared to buybacks and dividends intended to benefit shareholders. That game will never change until the bank loses a meaningful number of customers and cant make money.

Companies run for the benefit of customers instead of shareholders, like say, USAA, invest in technology and employees. Just ask the WF goobers who tried to steal USAAs remote deposit capture technology and got sued.

Hey @lkb+15vrq5wU, OP here, I used Ivy League schools as shorthand.

I probably should have been more clear.

A college degree doesn't mean squat in 2020, and Wells is proof.

Degrees have been devalued, from political leaders to boardrooms.

I am all for higher education, and I understand that there are some smart people out there, but there are also legions of inbred bluebloods running American companies with pocket boards filled with their former frat bros, using the companies they supposedly run as their own personal ATM machines.

When I hear Saul speak, I hear an educated, traveled man, who can't see past his own nose.

Wells needs tech, and I do not hear anything useful from our management. We are not moving forward, we are going backwards.

My premise was fine, my execution of the message was flawed. I am humbled.

To be accurate, only Allen Parker went to an Ivy League school, Columbia. While many in current and former leadership attended good schools such as Johns Hopkins and Stanford, many more went to state schools. Carrie Tolstedt, John Stumpf, and Hope Hardison are examples.

These people were not really running in Ivy League type circles until after they spent 20 years running the bank into the ground, they probably aren’t now.

I dont think Scott Powell’s parents bought him into UMinn 30 years, but OK. Saul went to college in the Netherlands where college is heavily subsidized by the govt. Your entire premise is absurd.

Saul wouldn't last ten minutes in a real tech company.

His explanation of reorgs alone just now would get him laughed out of town.