I am starting to think that the real reason WF brought Charlie as the next CEO is because he sits on the board of Microsoft. This is starting to make sense. IMO, the board wants Microsoft to take over Wells. It’s a perfect marriage. Think outside the box for a moment. Wells is lacking in Technology and being taken over by the #1 Technology Company in the world would make sense. Microsoft wants to expand into Banking(google it) and they can get one of the biggest Banks in US on the cheap. I know it’s a stretch to think something like that will happen, but I am starting to think that this is the future for Wells. When Wachovia was taken over by Wells in 2019, CEO of Wachovia Bob Steele was also on the board of Wells! De Ja Vu
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OP, why take over wells? We could simply contract any and all tech through MS rather than paying for 500 other vendors. We could just pay one.
We could hope at least it would be a rising stock price!
@euw+16RgtAdX MS would love to have an organization like Wells to run and promote their software. We are already essentially a huge beta tester for them.
When Active Directory rolled out we disproved their claim that 6 domain controllers would work for any size organization. Our company was so huge that even with double that number it took 30 minutes for updates to propagate through the directory even though it should only have taken seconds.
We also disproved their claim that an OU could have an unlimited number of GPO's assigned to it. I was on-site when we discovered that, in fact, once you added the 33rd policy to an OU weird things started happening to end-user machines within that OU. It actually manifested itself as if it were a hardware issue, but it wound up being too many GPO's on the OU. Once they removed the 33rd policy it remedied itself.
MS would love to have an enterprise like us to showcase what they can do.
Microsoft would faint if they saw the Wells Fargo technology, or lack of...
Two thoughts:
- Why would a company that is near perpetually in antitrust trouble want to take on a bank that is near perpetually in regulatory trouble?
- If they do that would be awesome. MS pays very well for qualified people.
@yqk+16RgtAdX. Yes. I am aware that Wells Fargo Market Cap is around 100 billion. What is your point? It was 300 billion a few years ago. Microsoft Market cap is 1.6 Trillion. They can afford to pay 100 billion which is about 7 percent of Microsoft Stock. Granted Wells Fargo share holders probably would not sell for $24 per share. But if Microsoft increased the offer to about $50 per share, then I think a deal can be reached.
WF market cap is about $100 billion....
OP i can you share your chewables with the rest of us???
Hey OP! I appreciate your creative thinking! It might not be MSFT, but it opens our minds to new horizons which is always a good thing.
I would be excited by a visionary coming in and showing these stale old mediocre overpaid elitist bank execs how to turn the industry on its ear.
Wachovia 2019? So was 2008 just a publicity stunt?
Microsoft could easily get a much more well run bank for much less money than it would cost to buy Wells. With much fewer legal headaches and brand issues. There is literally no reason why MSFT should buy WFC.
Man, lay off the pipe. You're losing it.
Not worth of an attempt for sure for Microsoft unless it doesn't know how to burn its cash.
Microsoft can do better than Wells
A bit of a stretch...