USC-Col 2006-Honors Finance/Econ Grad MD

Is Wachovia's $150 Million Ad Account Smart Spending?

With regards to liquidation of that stock, speak to your advisor, planner, or broker. Hell we want to keep as many brokerages in business. But that aside, since that stock is so regulated now do to the company situation, their are certain procedure that must be taken to liquidate your stock. I know on Monday, trading was halted completely. I would get with your broker as quick as possible just a beginer, if you're still reading,

Is Wachovia's $150 Million Ad Account Smart Spending?

I believe in the Wachovia situation. Thankfully the company sold off its deposit to Citigroup...thus its no longer, once closing, have any ties to citigroup what soever. The only remains of Wachovia are its brokerage and insurance units essentially. Wiht regards to WB stock, I believe all out of luck. Because since it is know currently a penny stock, it will be extremely regulated. Only certain person, investors, are allowed to make the market in that stock. I belive the WB as a whole let people down. They got too complacent with regards to last year's high and became lackadaiscal when it comes to running their banking operations. The executive staff can do all they can, but it comes essentially down to whether the company as a whole is willing to buckle down and live up to their job responsiblities in making sure that the bank turns a profit, invest deposits wisely, and package mortgages that bring interest and principal to the bank and keep consumer in a steady home loan.

Is Wachovia's $150 Million Ad Account Smart Spending?

Sep 28 04:24 PMThe majority of the shares climbed have been attributed to the historic new CEO and his cabinet who is excellent as well...but if you give a almost completely eaten sandwich to a starving person, they can't get completely full off it no matter how hungry they are. However the only reason its trading as high as it now are because of Steel and his personal company who have fantastic jobs at other locales but may not save a lackadaisacal company during the current crisis. If they just lived up to their responsibility in providing consumers with mortgages that meet their needs, earn some returns are made on customer's deposits, and made sure they can guarantee through profitablity that they a trusted, mature, responsible, educated bank then Wachovia shares would return to normal levels but they flatly refuse to hear the cries of the market bells at the end of the day.

Is Wachovia's $150 Million Ad Account Smart Spending?

The majority of the shares climbed have been attributed to the historic new CEO and his cabinet who is excellent as well...but if you give a almost completely sandwich to a starving person, they can't get completely full off it no matter how hungry they are. However the only reason its trading as high as it now are because of Steel and his personal company who have fantastic jobs at other locales but may not save a lackadaisacal company during the current crisis. If they just lived up to their responsibility in providing consumers with mortgages that meet their needs, earn some returns are made on customer's deposits, and made sure they can guarantee through profitablity that they a trusted, mature, responsible, educated bank then Wachovia shares would return to normal levels but they flatly refuse to hear the cries of the market bells at the end of the day.

Is Wachovia's $150 Million Ad Account Smart Spending?

I believe the amount of bad press attributed to Wachovia is completely fair. Your referring to a company that specifically packaged as mortgage option adjustable rate mortgage and mortgages in which a person can decide when to pay their mortgage. So two things are going to happen, one, their going to run out of money because they can't guarantee income. Two the consumer is screwed because they may not be able to pay when the mortgage actually adjusts, their locked in on a credit report with a company that is known for messing these types of things up. Wachovia is a company with a 100 year history and their screwed completely in a matter of months by bad decision after another as a group. Those certificate of deposits need interest paid on them, and they have to pay those back when they mature and their not doing anything with borrowed money since that's what a CD basically is, a collateralized loan with liquid assets backing it. This an area when banks are starting to fail. No one wants to merge with them and no one wants to take them over so far, and I doubt once that package is pushed that the money will going to a company who has been looked into by federal regulators in the majority of offices. They clearly don't understand how to turn a profit, because according to previous articles they are not writing down their mortgages and take a hit now because they are basically too scared too lose even more money right now. In other words, they may never be able to get back off the ground again.