https://www.wsj.com/articles/deflation-wells-fargo-stagecoach-new-mexico-hot-air-balloon-fiesta-11627049447?mod=hp_featst_pos5#comments_sector
Charlie is pulling our hot air balloon? What's next Charlie getting a shotg-n and ki----g the horses? This guy is freaking nuts, he's already closed all the museums. It's almost like we hire a sadomasochist here running the place. Woke R Us.
fact: customer and prospect feedback both before and after the scandal broke has said over and over that the stagecoach is dated, doesn't inspire confidence in the bank, and a bunch of other negative things. Prior administrations before and after scandal ignored that feedback and instead focused on "modernizing" the stagecoach. Although marketing (the marketing at that time - JM and her merry band of incompetents) were involved, they were not the decision makers - decision makers were CEO and op comm.
Current exec management is FINALLY listening to customer and prospect feedback and ditching the stagecoach as the universal brand symbol.
It's long overdue.
What goes UP must come DOWN..................So sad!
WF is pulling out of NM generally. Lots of closed buildings / offices already and it's going to get worse. That state will probably wind up having a handful of branches and nothing else by the end of 2022. There was a time when WF was on a trajectory to be a truly national wide bank, serving people all across the country. Now we are devolving into something more like a weird amalgamation of smaller / regional banks. The hot air balloon event in NM was cheap PR and people liked seeing it. NOT seeing it after all these years is bad PR more damaging than the pitiful amount of $ it costs. It's ok though, Charlie will probably hire a guy in India to fly a hot air balloon with the red box of doom logo instead for half the price.
Having a long corporate heritage is a GOOD thing. It doesn't mean you can't do new things.
I have a cousin who attends that event every year. (She had also read recent stories about WFC no longer offering personal lines of credit and selling off businesses.) She texted me, asking if Wells Fargo was going out of business and if she should move her accounts elsewhere.
Our executive team should get their heads out of the sand and be aware of how the sum total of their decisions are being perceived by the public. Our messaging has been terrible.
Expensive hot air balloons do not help chainsaws stonk options get awarded.
If you wanna understand what Wells Fargo is today, you gotta think like a sociopath.
"HOW MANY FACES DO I NEED STEP ON TO GET RICHER"
Revolting.
Narcissistic meter is literally bouncing off the needle with this guy.
Sure, the other CEO's sucked, but chainsaw is a whole new level of suck.
Sloan and Stumpf were bad, but not "ego trip, its all about me" level of bad.
I've heard stories about his epic rants in executive meetings where he doesnt get his way.
Let’s just be Norwest again
Charlie Derangement Syndrome
Go see a doc
It is sad. The Wells Fargo stagecoach and the pony express are part of American history. While it is true that the original Wells Fargo was swallowed up by a merger long ago, the history and heritage were in our keeping.
Now we’re ki----g them off in a misguided attempt to look cutting edge while we fail miserably to keep up with institutions that actually are forward thinking.
I don’t blame Charlie, I blame marketing. They’re the ones floundering around uselessly, just as they have been since the scandals hit.
Bury our history and make us look like every other faceless corporate entity on the planet. Yeah, that’s the ticket.
Old news
Sad so many people have worked here for like a hundred plus years, since the mid 1800's. Its like they want to erase everything and put it a box and throw it all away.