You heard it here first.
36 replies (most recent on top)
i don’t know why everyone is being so hard on you, OP. 99% of the posts here are completely made up. you’re just trying to fit in.
TK is taking over!!!!! The Four Horsemen have appeared and the apocalypse has arrived !!!
All hail Queen TK .
@1ncp+1otalTHM
Agree. Watch the Enron documentary on Prime. It feels like deja vu.
Not to mention RCSA, which is a great tool for mapping out everything a complex org is up to, making it much easier to assimilate.
New company doesn't want inefficiency, so we've dumped almost 10k people this year.
Things are starting to line up...
Adding to the speculation as far as “random events”: our Control Chief, Nate Herman, just stepped down in July after 3 year in the role ”to spend more time with his family”, which is a euphemism for “I was forced out”.
After so long to suddenly see an article critical of CS's leadership, it's a tell.
It’s not Wells Fargo being acquired (due to size) or Wells Fargo acquiring any one (due to Asset Cap).
But it could be Charlie resigning/retiring due to pressure from regulators. (Similar to Sloan stepping down in 2019 or Betsy Duke - Chairwoman stepping down in 2020) . Scharf didn’t take a raise for the first time this year, purportedly his choice but y’all know that’s not true - that could be a sign there is pressure. Or he could just want out, or he could be stepping down before some ultimate hammer is lowered. Guessing he has enough money by now and he was hoping to have Corporate Savior on his resume, but I would think it’s not turning out how he hoped.
Could also be a big sm--k-down coming from regulators. They can’t let us flail along forever. Having said that, Wells Fargo is very important to the US Banking system so…?
There could be some negotiations happening.
It is true about seemingly unconnected events possibly pointing to something. I have been through a major surprise announcement too. Except for the Executive Committee, the employees were gobsmacked about a sudden takeover announcement. But after it was announced, you could look back and realize there were obvious signs that didn’t mean much on their own, but when you put them all together it started to make sense.
Signs were: A senior leader going to another company after decades at the firm. (Mary Mack retiring at age 57?), simplification of operations and systems to ease the merger, a somewhat newer CEO who had $ signs in his eyes, top executives were secretly meeting offsite, they changed something with the Officers votes or something that riled everyone up but CEO promised right up until the last day that we would remain independent.
Also, have unfortunately been through Wachovia running us in to the ground and secret negotiations happening over a weekend for Wells Fargo to acquire us.
Might be nothing at all, or might be something. It could also be the start of something that could take 6 months out. We won’t know until they want us to know.
@1ibc+1otalTHM If he's out, who's going to lead, or will it be "taken over" ?
The WSJ article timing was not coincidental. It's all planned. Board of Directors cosigned the timing of its release. CS is out.
Gird your loins.
It's going to be chaotic.
If CS/SP are involved, we're &&&&ing doomed. If they are being forced out, then there is some hope.
WFH for everyone!
@etz+1otalTHM Let's hope it includes Charlie, or Charles NOT in charge.
Is that true? It feels like we never hear from him, so I can’t say I have noticed a change.
Read the WSJ article - it’s not a glowing endorsement.
I’ve got a bad feeling about this.
—Han Solo
Collapse?
if I had to guess CS is probably gone given we haven't heard from him in some time.
I heard tech is affected.
my displacement package is ready?
Go ask former Enron employees what it felt like at the end.
Zoltar agrees
I feel like I’ve been screaming for months and nobody’s listened…
HR has been preparing for a massive layoff.
This is what we are left with. Gut feeling gs.
"Just adding up a few 'random-appearing' facts and making a gut-call based on a similar situation at a former company."
Care to elaborate? Please let it be that Charlie is stepping down.
OP is Charlie. You can tell by the lack of details. Sorry to out you Charlie. ;(
"“random-appearing” facts and making a gut-call based on a similar situation at a former company".
What the F are you talking about? Go blather somewhere else if you can't articulate "your thoughts" in a basic meaningful way.
Aliens live among us? What is the nature of this announcement?
ok OP. Thanks for the earth shattering insight.
OP here. Could be wrong. Not trying to pretend I know something -I don’t. Just adding up a few “random-appearing” facts and making a gut-call based on a similar situation at a former company. I’m not even suggesting whether it’s a positive or a negative, which could be viewed differently depending on the stakeholders. Take it for what you will - just sharing my thoughts.
Yes I have been loading up on stock at these bargain prices!!
5% pay bump to all US employees!
I suspect you are a huge w1mp that can’t say what they mean. I suspect you’re gonna eat today. What a clairvoyant I am!!!!
Lay it on us, pls.
totally agree......looking forward to it too!!
GFY with this stupid post.