Clipmarks | Wells fargo Clips

AMERICAS ECONOMY IN A NUTSHELL

Tue, 07 Oct 2008 04:08:31 GMT

clipped by: klippety
clipper's remarks: Whats left will fit neatly into a nutshell

Stocks plummet 10:12pm ET

Panic over the global financial system knocked Asian stocks again after the Dow hit below 10,000 for the first time in four years. Full Article | Video

U.S. calls for unity as markets dive

Savers run at the click of a mouse

Timeline: Mayhem strikes markets

Full Coverage: Markets

Full Coverage: Crisis in Credit

Global Environment summit

Grim prospects

A global pact to tackle global warming is in trouble and could end in disastrous failure as rich countries fail to deliver on promises, an expert warns. Full Article | Full Coverage

Risks mount for global warming fight

Crisis hammers stocks, U.S. urges unified response | Video

Wachovia, Citi, Wells Fargo to halt litigation | Video

Insurance chief says AIG bailout was unavoidable

Fed's Bullard: Rate cuts not the solution

Bank savers run at the click of a mouse

Tax rule change may spur bank deals, experts say

Bailout bust

The bank bailout hasn't restored investor confidence because it does only half the job,

Citigroup Says Judge’s Order Suspends Wachovia Deal

Sun, 05 Oct 2008 12:21:40 GMT

clipped by: dewitte

Clip Source: www.nytimes.com

Citigroup announced late Saturday that it had persuaded a New York judge to temporarily block Wells Fargo from acquiring Wachovia, firing the first shot in what could be a prolonged legal battle.

Citigroup has accused Wells Fargo of wrecking its plan to acquire Wachovia’s banking operations for $2.2 billion, or $1 a share, in a deal arranged by the Federal Deposit Insurance Corporation. Four days after that deal was struck, it fell apart when Wachovia agreed to Wells Fargo’s offer to pay seven times as much for the entire company.

Citigroup contends that the deal with Wells Fargo violates an agreement that prohibited Wachovia from having any sale or merger discussions with anyone other than Citigroup until Oct. 6.

A person briefed on the situation said that Citigroup was seeking $60 billion in damages from Wells Fargo for interfering with the initial transaction.

Tags: wachovia, citigroup, wells fargo, banking

cnn clip

Sun, 05 Oct 2008 12:05:11 GMT

clipped by: lucyjag

Clip Source: edition.cnn.com

Judge blocks Wells Fargo-Wachovia deal

Dinner Bell Rings for Financial Feeding Frenzy

Fri, 03 Oct 2008 23:09:01 GMT

clipped by: merrie
clipper's remarks: AIG today revealed what many private-equity firms, banks and asset managers want to know about the company’s asset sales to pay back an $85 billion government loan: What’s for dinner?

AIG CEO Edward Liddy put an end to the suspense today. Here is what AIG is putting on the block: the U.S. life, retirement and pensions businesses, the personal-lines property-casualty business and at least a minority stake in its foreign life insurance business. All of AIG’s non-insurance businesses, including aircraft leasing, consumer finance division, U.S. auto insurance, a reinsurance business and asset manager, are also likely to be put on the block.

Clip Source: blogs.wsj.com

Nearly every major private equity firm with an interest in finance, including Hellman & Friedman, TPG and Corsair Capital, are expected to pore very closely over AIG’s portfolio. AIG CEO Edward Liddy knows that this has been the sale that many have been waiting for. On a conference call today, he said “dozens and dozens” of acquirers would step up and that “demand for these properties will be very high.”

AIG will sell nearly its entire life insurance business, which includes its life insurance operations in the U.S., Latin America and Japan, but will keep a controlling stake in AIA, its life insurance division in China, India, Korea, Singapore, Malaysia, Thailand and Vietnam. The company expects earnings growth of around 20% in those developing markets.

Clip Source: blogs.wsj.com

Afternoon Reading: Hell Hath No Fury Like a Citi Scorned

Clip Source: blogs.wsj.com

Winners & Losers in Wells Fargo's Bid for Wachovia

Clip Source: blogs.wsj.com

WSJ Video: Analyzing the Bailout Bill

Clip Source: view.atdmt.com

Tags: aig $85 bn loan, major equity firms, life insurance

Battle for Wachovia

Fri, 03 Oct 2008 18:11:48 GMT

clipped by: iulawboy
clipper's remarks: Finance is in turmoil and the ride is anything but over.

Clip Source: news.yahoo.com

Wachovia says it agreed to be acquired by San Francisco-based Wells Fargo & Co. in a $15.1 billion all-stock deal. But Citigroup now demands that Wachovia abide by the terms of its earlier deal to buy Wachovia's banking operations.

The Citigroup deal would have been done with the help of the Federal Deposit Insurance Corp., but the Wells deal would be done without it. The head of the FDIC said the agency is standing behind the agreement it made with Citigroup.

Tags: banking, wachovia, wells fargo, citigroup, finance, fdic

Wells Fargo agrees to buy Wachovia, Citi objects

Fri, 03 Oct 2008 16:28:26 GMT

clipped by: dewitte
clipper's remarks: Oh, for chrissake. Walk-all-over-ya bank is up for grabs again.

Clip Source: www.wtopnews.com

NEW YORK (AP) - Wachovia says it agreed to be acquired by San Francisco-based Wells Fargo & Co. in a $15.1 billion all-stock deal. But Citigroup now demands that Wachovia abide by the terms of its earlier deal to buy Wachovia's banking operations.

The clash sets up a battle over who will win Charlotte, N.C.-based Wachovia.

Citigroup says its agreement with Wachovia provides that Wachovia will not enter into any transaction with any party other than Citi or negotiate with anyone else.

Tags: wachovia

Financial Gloom not over

Fri, 19 Sep 2008 01:37:53 GMT

clipped by: deb2012
clipper's remarks: next President will be dealing with this

Clip Source: www.marketwatch.com

among the first to warn that an era of easy money would come to a bad end

Expect loan default rates to rise, Gundlach said, not just in the subprime market, but among the top-drawer prime borrowers as well. The prime default rate could approach 10% from a current 2% before the carnage is over, he said.

"The current environment is maybe a little worse that what was experienced in the Depression in terms of the housing market," Gundlach said.

Accordingly, financial institutions may suffer write-offs that could surpass $1 trillion before conditions improve, he said. As of late August, credit losses and writedowns at the world's 100-largest banks and brokerages topped $506 billion, he noted.

If I were going to buy financial market stocks," he added, "I would be a buyer of Wells Fargo

JP Morgan

and Bank of America

Tags: finance, stock market, banking

Mortgage Crisis

Thu, 18 Sep 2008 18:30:44 GMT

clipped by: jcolier
clipper's remarks: Explains where the mortgage crisis started from.

Clip Source: investorvillage.com

The union of securitized mortgage credit and sub-prime lending was a marriage made in hell, waiting to be consummated. Most of today's biggest mortgage companies are not federally regulated. Some are actually subsidiaries of banks, such as Wells Fargo, or own banks, such as Countrywide, the nation's biggest mortgage company. But while the loan portfolios of the parent banks are still strictly regulated, their mortgage affiliates are not, because the loans don't stay on their books. Still other such companies are independent but financed by big banks.

Many of these new-wave mortgage lenders, which make their profits based on their volume of loans, loosened credit standards far beyond the point of prudence, knowing that they could pass off the risk to some other investor.

Next bailout WAMU?

Wed, 17 Sep 2008 14:00:22 GMT

clipped by: deb2012
clipper's remarks: Would you buy a failing bank if knew the government and the taxpayers will buy junk for you?

Clip Source: news.yahoo.com

(Reuters) - U.S. federal regulators recently called a number of banks asking if they would consider buying Washington Mutual Inc (WM.N) should it eventually falter, the New York Post said, citing sources.

Federal banking regulators, in recent days, contacted Wells Fargo & Co (WFC.N), JPMorgan Chase & Co (JPM.N), HSBC (HSBA.L) and several other financial institutions to gauge their interest in a possible acquisition of WaMu, the paper said.

Tags: finance

Current Mobile Solutions for Banks

Thu, 07 Aug 2008 08:15:23 GMT

clipped by: slugdugg

Clip Source: brandonmcgee.blogspot.com

Tags: mobile

Back to the Future: The Auto Leasing Mess

Thu, 31 Jul 2008 14:11:21 GMT

clipped by: JICWyllie

Clip Source: www.businessweek.com

General Motors and Ford are pulling back on leasing. Chrysler and Wells Fargo Bank will stop writing new car leases altogether. Ford and BMW have already taken charges because of losses in their lease portfolio. Should the carmakers have seen this coming? Yes, but not for the reasons you might think.

That freefall in sales of gas guzzlers means that when carmakers get these three-year-old suvs back after a lease, they’re worth far less than they thought they would be. That explains why BMW took a nearly $400 million charge in the first quarter for lease problems and Ford said bad lease deals will cost it $2.1 billion.

Sales and prices of suvs have been on the wane for at least three years and the auto makers are just now pulling back on leasing. They should have seen this coming and pulled back earlier.

Tags: economy, business, automobiles, i-losses, i-increase, i-forecast

Workstream

Fri, 25 Jul 2008 07:40:09 GMT

clipped by: supplyknowledge

Clip Source: www.businesswire.com

Workstream provides on-demand compensation, performance and talent management solutions and services that help companies manage the entire employee lifecycle - from recruitment to retirement. Workstream's TalentCenter provides a unified view of all Workstream products and services including Recruitment, Performance, Compensation, Development and Transition. Access to TalentCenter is offered on a monthly subscription basis under an on-demand software delivery model to help companies build high performing workforces, while controlling costs. With offices across North America, Workstream services customers including Chevron, Kaiser Permanente and Wells Fargo. For more information, visit www.workstreaminc.com, or call (407) 475-5500.

15 Wackiedt Classified Ads

Sun, 15 Jun 2008 18:57:34 GMT

clipped by: revenantdm
clipper's remarks: OK. Sometimes things hit a little close to home. For example the Time Travel ad. I grew up in Oak View, CA and in 1976 three men robbed the Wells Fargo bank there at the time. One was found within a day, a second was found dead of exposure within two weeks and the last was never seen again. Sure I am paranoid, Bit what if...

Clip Source: www.oddee.com

15 Wackiest Classified Ads

"Turkey for sale. Partially eaten"

"Wanted: Somebody to go back in time with me."

"Used Toilet Paper"

Now here's a good deal. "Tombstone: Standard gray, a good buy for someone named Grady."

"Honda Civic '96 (...) good condition, speaks Spanish."

"For Sale: collection of old people."

"Human skull, used once only"

"1995 Nissan Maxima, (...) good condition, $4500. Not for sale"

He just wants people to know he's got it...

Here's something you might like for the house... a "white trash compactor"!

"For sale: One pair hardly used dentures, only 2 teeth mssing"

"GE Mammogram dish washer for sale"

Apparently, while you're washing the dishes, you just lean forward and it gives you...

"Soccer ball signed by either Pele, the former Brazilian soccer player (...), or by some guy named Peter, $75."

Full size Mattress (...) Like new. Slight urine smell"

"China cabinet buffet (...) few cat scratches but cat has been killed"

"Oak funeral handmade casket (...) Only used once"

Tags: funny, ads, list, strange, weird, crazy, unusual, classifieds

Wells Fargo banks on virtual worlds to gather real-world interest

Fri, 09 May 2008 13:59:08 GMT

clipped by: dewitte

Clip Source: www.dmnews.com

If you don't think virtual worlds can mirror reality, imagine losing your cool new virtual car because you haven't made your virtual payments.

That's the idea behind on Stagecoach Island, a private virtual world created by financial services company Wells Fargo to teach basic financial skills to the age 14-24 demographic.

“We wanted to stay focused on our mission to provide financial education and we decided the best way to do that while protecting our brand is to build our own island,” said Gina Fung, VP of experiential marketing at Wells Fargo. “Young adults find themselves facing a lot of firsts, and we felt Stagecoach Island could give them hands-on practice in financial responsibility in an entertaining and safe format.”

Tags: wells fargo, second life, stagecoach island, virtual, reality

Really Dick Gregory?

Tue, 26 Feb 2008 03:39:57 GMT

clipped by: yojoe
clipper's remarks: Dick Gregory speaking at the State of the Black Union.

Clip Source: dreadnaught.wordpress.com

What are you putting in my malt liquor, white boy? What are you putting in it? Huh? Hear me! And its your fault too! Malt liquor is made by white companies, but only sold in black neighborhoods, and you ain’t checked it to see what’s in it!

Dick Gregory at the State of the Black Union on 23 February 2008.

Does this type of rhetoric add anything to the discourse on race relations?

Also, behind Mr. Gregory you can see the corporate sponsors of the event, including Wells Fargo, McDonald’s, and ExxonMobil. Are these white companies?

Video

yojoe (in non-racial mode) out

Tags: dick-gregory, state-of-the-black-union, state-of-the-black-union-2008, gregory-state-of-the-black-union, dick-gregory-speaks, dick-gregory-cspan

Clipmarks | Wells fargo Clips

AMERICAS ECONOMY IN A NUTSHELL

Stocks plummet 10:12pm ET

Global Environment summit

Grim prospects

Bailout bust

Citigroup Says Judge’s Order Suspends Wachovia Deal

cnn clip

Judge blocks Wells Fargo-Wachovia deal

Dinner Bell Rings for Financial Feeding Frenzy

Battle for Wachovia

Wells Fargo agrees to buy Wachovia, Citi objects

Financial Gloom not over

Mortgage Crisis

Next bailout WAMU?

Current Mobile Solutions for Banks

Browser - Mobile Banking

Rich UX - Mobile Banking

SMS - Mobile Banking

Back to the Future: The Auto Leasing Mess

Workstream

15 Wackiedt Classified Ads

15 Wackiest Classified Ads

Wells Fargo banks on virtual worlds to gather real-world interest

Really Dick Gregory?