Glad to see positive earnings although it's funny how in what CS communicated to the rank and file he doesn't mention the 8% reduction in expenses.
14 replies (most recent on top)
Commercial is hemorrhaging, Home lending is losing market share, we have pi---d consumers off on yanking lines of credit. Voluntary attrition is the new plan.
@twd. Stock price back a few years? You mean Stumpf inflated price? Yeah. It was high alright. High from bad practices and ended up with fines and penalties. WFC down the toilet for those reasons. Stop mourning, Wells deserved the punishments and corrections are needed now. Get a grip!
@hxt+1bPOOZsW - You have got to be kidding! Do you actually believe any of what you just posted, or are you just a d-mb kiss a-s?
"CS and the operating committee are great at their jobs. Probably the best in the industry. We were/still are a terribly inefficient company. CS is making progress in this area. As the CEO of a company this size, the one and only job is to create value for the shareholders. That’s it. Say what you want about the guy. But he’s doing his job and doing it well."
Have you seen our stock price lately? Have you looked back a few years to see where we were? Have you compared that to our competitors and how their stock has rebounded and how ours still has not?!? Charlie has been here almost 2 years with nothing but negative performance to show for it - in employee morale, in business performance, and in the stock price! If we had a more competent board, they would be starting the process to kick him to the curb without his golden parachute!
@dwb+1bPOOZsW
Good! I want to see Charlie haters cry like a baby
that 6 bill will go into stock buy backs to boost the value of CS's options
Good report overall. I'd rather see good reports than bad ones. At this point I just hope to survive the gauntlet of displacements over the next year. Between that, RTO attrition, VDI, maybe a business sale, some property consolidation, and some other efficiencies, maybe it'll be enough to satisfy those at the top.
CS and the operating committee are great at their jobs. Probably the best in the industry. We were/still are a terribly inefficient company. CS is making progress in this area. As the CEO of a company this size, the one and only job is to create value for the shareholders. That’s it. Say what you want about the guy. But he’s doing his job and doing it well.
Supplement also shows overall headcount across segments. Dropped 6% from one year ago.
Efficiency ratio of 66; still 16 points to go; buckle-up buttercups. Workloads will be ramping up even more.
$6 billion. Barely scraping by. Can't replace laptops, buy your team $100 worth of pizzas for a success, or get relo paid for. Welcome to Wall Street.
It is not hard to see Wells welfare program needs to end. Screaming and throwing tantrums all you want but if you are dead weight your time is up. You have been taking advantage of Wells long enough and you know it
Yes. Street rewards Charlie nicely. Cleaning house is a must. Too much dead weight. Yes I said dead weight. Don’t like to hear the truth? Bite me!
"progress on improving efficiency" - right there in the second paragraph. It is good news though.
Quarterly supplement on the investor relations site provides head count per business.... nice # to watch