hunter

Citi Examines Its Carrots and Sticks

With either deal Wachovia shareholders are not getting just value for what Wachovia is worth. With the rescue package passed and relaxation of mark to market accounting rules Wachovia may want to remain independent. Wachovia employees should push for them to remain independent. Maybe even tkae pay cuts to improve the company.

Who Is Now Number One in the Banking Industry?

The best thing for the banking public may be for Wachovia to remain independent. If Wachovia is bought competition will lessen and that will be bad for the consumer. I too hope Wachovia will take advantage of the rescue bill and the relaxation of mark to market accounting rules. Wachvovia has a very profitable retail bank and their customer satisfaction reviews are among the highest in the industry. With the rescue package passed Wachovia can overcome its mtg woes and earn itself out of this mess. If Wachovia employees truly care about their company they should do what airline industry employees have done and take pay cuts to ensure their future. Wachovia's Sr MGRs should take the lead in salary cuts and take back ownership and make their company great again.

Wells Fargo's Big Deal: The Strong Keep Getting Stronger

Amen ishortyou. With the rescue package in place and relaxation of mark to market accounting rules the best thing for Wachovia may be to remain independent. No matter what Citi does Wachovia shareholders will decide this issue. Neither Citi nor Wells are offering a fair price for Wachovia and the large shareholders of Wachovia will see that.

Wachovia Sale to Wells Fargo Is a Better Deal for the U.S. Banking System

After all this wrangling between the two banks attempting to buy wachovia the wachovia share holders will ultimately decide. The FDIC had no business bulldozing Wachovia into a deal with Citi. Wachovia is not in jeopardy and now with the rescue package passed and relaxation of mark to market accounting rules Wachovia should remain independent. Remaining independent may be the best thing for Wachovia shareholders and the banking public. If the 4th largest bank is no longer competition will lessen and the consumer will be hurt with higher fees ect. Wachovia shareholders are not getting a good deal either from Citi or Wells Fargo. Wachovia has a lot of underlying good businesses. Their retail bank is among the best and most profitable among its peers. Wachovia should be getting no less than 30 billion to sell. With Citi's troubles Wells Fargo needs to step to the plate with a better offer an offer that will resolve the issue once and for all.

Did Buffett Kill the (First) Wells Fargo-Wachovia Deal?

If the rescue package passes congress the citi buy of Wachovia is far from a done deal. Wachovia employees should consider taking over Wachovia even take pay cuts to save the company. This deal was hastly done and the shareholders should vote it down. Supposedly Wachovia had above required capital and liquidity. What got Wachovia was the CDS's, JPM write down of 31 billion of the WAMU mortgage portfolio,and the mark to market accounting that will be relaxed in the rescue bill. The banking industry needs Wachovia to survive to keep competition in the market. If Wachovia is no longer it will bad for consumers if there are only three big banks Citi,JPM, and BAC. The employees should take pay cuts just like the airline industry and take control of Wachovia. Once they have control they need to get rid of the idiots in Mgt that got them in the shape they are in. Once the 700 billion bill passes Wachovia can move their toxic mtg loans off their books into the Govt fund. This will enable them to start doing business as usual again.