Occupations

[I, Brian]

Originally Posted by Faithfulservant

Ok.. so how about the dish on Wells Fargo... looks like they put a higher bid in.. lol

Very strong company - share price steady overall despite other US financials crashing. Subprime and dodgy asset exposure - almost zero.

Warren Buffet has around a 10% stake via Berkshire Hathaway, and he announced 5 years ago that subprime assets were toxic and not to be touched.

Not sure where they base their call centres, but has the reputation of being one of the strongest of all the US banks.

[Penguin]

Forgot to say, I am a Data Manager for a large Engineering company. I sit at a desk most of the day, get around when I get the opportunity though

[Faithfulservant]

Originally Posted by I, Brian

Very strong company - share price steady overall despite other US financials crashing. Subprime and dodgy asset exposure - almost zero.

Warren Buffet has around a 10% stake via Berkshire Hathaway, and he announced 5 years ago that subprime assets were toxic and not to be touched.

Not sure where they base their call centres, but has the reputation of being one of the strongest of all the US banks.

so $7 a share is quite a bit better than .90 cents.. no government involvement but apparently the FDIC is in favor of the merge with citigroup..

With Wells Fargo its a complete merge with no change to any of Wachovia.. they have a call center on the west coast so wont effect ours.. 3 of our board members go onto Wells Fargos board... its a much sweeter dealer for all concerned.

Still up in the air? I hope not... I hope this is solid.

[wil]

Originally Posted by Faithfulservant

so $7 a share is quite a bit better than .90 cents.. no government involvement but apparently the FDIC is in favor of the merge with citigroup..

With Wells Fargo its a complete merge with no change to any of Wachovia.. they have a call center on the west coast so wont effect ours.. 3 of our board members go onto Wells Fargos board... its a much sweeter dealer for all concerned.

Still up in the air? I hope not... I hope this is solid.

With the tax breaks included in the Bailout It won't cost Wells Fargo a dime to acquire, it'll probably go thru.

[I, Brian]

Originally Posted by Faithfulservant

so $7 a share is quite a bit better than .90 cents.. no government involvement but apparently the FDIC is in favor of the merge with citigroup..

With Wells Fargo its a complete merge with no change to any of Wachovia.. they have a call center on the west coast so wont effect ours.. 3 of our board members go onto Wells Fargos board... its a much sweeter dealer for all concerned.

Still up in the air? I hope not... I hope this is solid.

Citi aren't happy, and sure the Fed won't be - if Wells trashes this agreement, it may be harder to engineer other bank rescues.

But, the Wells Fargo deal is good - almost too good, to be honest. WB was trading up to $3.5 a share before WF made their bid, so that a 100% premium on share price.

[Faithfulservant]

I used to work for citi.. I could care less if they are unhappy lol My job there is in India now lol they only care about their shareholders and if they are happy... they dont care about their people they screw every day.

[Muslimwoman]

Originally Posted by Alex P

That is awesome, how is that coming along??

Erm rather slowly, when my hard drive crashed I lost the lot and of course being a numpty didn't have a backup but getting back in to it now.

G-d knew what he was doing when He made me blonde lol

[Phyllis Sidhe_Uaine]

Originally Posted by Muslimwoman

G-d knew what he was doing when He made me blonde lol

What's my excuse? I'm not blonde!

Phyllis Sidhe_Uaine (the perpetually , with :kitty:s)