Thread regarding Wells Fargo & Co. layoffs

Post ID: @1owv+1hglEsEo

Oh come on. You are talking theory about what is supposed to happen in an honest world with ethical leadership. Let’s also blame the shareholders because they voted for the Board. I didn’t get to pick Charlie or nominate a board member, did you?

In reality, the BOD and Charlie are working hand in hand to mutually profit at the expense of all others. The Board members will do anything (and nothing) to keep their half a million dollars salaries coming for working an average of 8 hours per month.

Charlie makes the key organizational decisions that steer the company’s strategic direction such as hiring his cronies from JP Morgan, resource mismanagement, operational disimprovements, and destroying the corporate culture. How do I know? Because he is following the very same playbook as he has in his other positions. Slash and burn - that’s what he does. The Board didn’t want him either, but now they are stuck with him and are letting him ride because it benefits them personally to look the other way.

Did the Board pick him? Yes, unfortunately. But now they are laying low and collecting their paychecks, Just like our previous Board did with Stumpf through all his years of massive fraud. I don’t know anyone who doesn’t think we would be in a far better position had a first- pick top- performer accepted the job.

In the end, both Charlie and our Board are failing our shareholders, our employees and the American job market. I guess there is no need to argue over who is more responsible or more slimy.

It's cute how people think that businesses pay taxes. They really don't. Not because of a loophole or tax cut or "corporate welfare", but because they are simply a cost of doing business, which goes directly into the price of the product. Us pleebs pay the tax when we buy those items. Anyone advocating higher corporate taxes is really advocating taxing the American consumer--which has always been the real purpose of the tax in the first place. It allows the politicians to tax the working person without being blamed for taxing the working person. That's all it is. "Look at me, I'm working for you and sticking it to those evil corporations!" Yeah, sure you are buddy. Like everything else the pols say, it's a self serving pack of lies.

As I recall, the Founding Fathers feared standing armies and banks.

Remember in 2017 when they said a 1.7 trillion dollar tax cut for corporations would mean a pay raise of 4 grand per employee?

Five years later, somebody owes me 20 grand.

They spent the money on stock buybacks because the Exec's main compensation is from stock options in most companies.

Sorry, suckers!

The quote you really should be worried about: "NEW YORK, June 14 (Reuters) - Wells Fargo & Co's (WFC.N)chief financial officer told investors on Tuesday the bank will not release funds it set aside to cover potential pandemic-related loan losses this quarter because of the "uncertainty" facing the U.S. economy."

So they are holding on to cash. What do they have to cut? Costs maybe? They aren't cutting the CEO and Insider's salaries. Kleber Santos (completely worthless exec) just sold $1,000,000 dollars of shares before the stock took a dump to the $30s.

Its a small club of VIPs and you aren't in it. Don't wait for the severance - tell them to stick it.

@1sjj+1hglEsEo

I thought their stance was pretty clear. Focusing on the CEO is a waste of time. If Charles got fired tomorrow, nothing would change unless the BOD decided to go in a different direction. The CEO is basically just the face of the org. He's doing the BODs bidding. If he left, the next guy/gal would also be doing their bidding. Therefore focusing on the CEO is ignoring the real source of the problem. It's actually why the BODs of the world have a CEO at all. To keep pols and pleebs focused on someone other than them. We should stop being so easily distracted.

Anybody got any news on insider selling/buying of WFC...?

Post ID: @1qeb+1hglEsEo

If you are not defending Charlie, you need to learn to communicate your stance more clearly. Reread your response.

Corporations like Wells Fargo have worn out their welcome. They need to driven from our lands. They are invaders, they are the enemy of the people.

@bcq+1hglEsEo
Bingo. The employees will “self direct” themselves right on out like they want. This is their plan.

@xee I'm not defending charlie you di-k, I'm saying the board sucks as bad as him and we need to get rid of both Charlie and the board if we want to make anything better. And I only posted once.

F Charlie

Post ID: @ega+1hglEsEo

Obvious answer to your question is NO.

Asset Cap/Stock Price/Building the Bank’s reputation back…

Any of these addressed, (which would justify a rather hefty pay increase) ?

Post ID: @bcq+1hglEsEo

Your response is “exactly” the same to every post.

You seem to have a vested interest in attempting to defend Charlie’s failures. It’s okay to fail as long as the Board is behind you??

John Stumpf and Carrie Tolstedt had supporters during their decade of greed, dishonesty, and regulatory abuses too. And the Board was 100% behind them.

Ken Lay, Bernie Ebbers, Harvey Weinstein, Elizabeth Holmes, Adam Neumann all had their Board behind them, so…?..

The board based their 20% raise on Charlie doing exactly what they asked of him. If you think the current WF environment isn't by design, you've been ignoring what the board has openly said about their strategy and the workers here.