1. This Board Rocks has been moved to a new domain: CarolinaPanthersForum.com

    All member accounts remain the same.

    Most of the content is here, as well. Except that the Preps Forum has been split off to its own board at: http://www.prepsforum.com

    Welcome to the new Carolina Panthers Forum!

    Dismiss Notice

Wachovia

Discussion in 'Money & Finance Forum' started by LRBaseballer, Sep 29, 2008.

Page 3 of 7
  1. Sep 29, 2008 at 11:05 PM #21
    token

    token I'm a lady

    Age:
    49
    Posts:
    7,473
    Likes Received:
    1
    Joined:
    Jun 26, 2007
    Location:
    North Carolina
    Nope. The opening bid tomorrow will be $1.84.

    Friend of mine who sometimes posts here says that some of his co-workers in the investment side still had up to 40% of their own retirement stock in Wachovia this morning. They didn't know this was coming and hadn't diversified, ever. There are the ones investing other peoples' money.
     
  2. Sep 30, 2008 at 12:13 AM #22
    Bootay

    Bootay Poppycock

    Age:
    54
    Posts:
    2,246
    Likes Received:
    0
    Joined:
    Jan 9, 2003
    Location:
    Rangoon
    You have no idea what the opening bid will be, that's the closing price today...very different things, as this morning proved...

    I did some reading, and the thought is that while WB stockholders will get $1 of citi stock per WB share, they retain their WB stock which is evergreen + AG edwards + classic Wachovia securities, and this is a very profitable business that might be worth $5-7 per share. So, if you got into WB for $6-8, you might come out okay. I have no idea what timeframe all of this takes place in or if it's even close to accurate, but I'd sure like it to be :).
     
  3. Sep 30, 2008 at 12:23 AM #23
    Savio

    Savio Freelance Pimp

    Age:
    45
    Posts:
    8,221
    Likes Received:
    0
    Joined:
    Jan 7, 2003
    Location:
    Redondo Beach
  4. Oct 3, 2008 at 7:14 AM #24
    wolfpac

    wolfpac Full Access Member

    Posts:
    1,014
    Likes Received:
    0
    Joined:
    May 27, 2003
    Now Wachovia is merging with Wells. That was always the rumor when I worked there so it isn't shocking to me at all just an interesting week for Wachovia. This is probably better for Charlotte.
     
  5. Oct 3, 2008 at 7:50 AM #25
    meatpile

    meatpile 7-9

    Age:
    53
    Posts:
    35,132
    Likes Received:
    138
    Joined:
    Jan 7, 2003
    Location:
    All up in Boo's mama
    How is this better for CLT?

    Not saying it's not, just curious how it is.

    It's better for Bootay.....:N1YouGoGirl:
     
  6. Oct 3, 2008 at 7:50 AM #26
    tonync55

    tonync55 Full Access Member

    Posts:
    9,854
    Likes Received:
    0
    Joined:
    Jan 16, 2004
    Location:
    Western North Carolina
    I believe you are right wolfpac. I heard Governor Easley has been working behind the scenes to make this happen to save North Carolina jobs.
     
  7. Oct 3, 2008 at 8:12 AM #27
    VA49er

    VA49er Full Access Member

    Posts:
    22,561
    Likes Received:
    4
    Joined:
    Jun 14, 2003
    Better for stockholders and better for employees due to what I would imagine very limited overlap since one is east coast and the other west coast. Also, not splitting up WB seems to be better. Also, no govt bailout in this case unlike the Citi deal.
     
  8. Oct 3, 2008 at 8:12 AM #28
    Savio

    Savio Freelance Pimp

    Age:
    45
    Posts:
    8,221
    Likes Received:
    0
    Joined:
    Jan 7, 2003
    Location:
    Redondo Beach

    Wells Fargo is mostly has operations on the west coast and the midwest. Since their presence is less on the east and particularly the SE, job losses maybe less but that's to be determined. They're also buying all the Wachovia entities not just the banking ops.
     
  9. Oct 3, 2008 at 8:16 AM #29
    chipshotx

    chipshotx Full Access Member

    Posts:
    13,048
    Likes Received:
    0
    Joined:
    Jan 23, 2007
    Location:
    Gondwanaland
    Wachovia = .1991 Wells in stock for stock
     
  10. Oct 3, 2008 at 8:21 AM #30
    Savio

    Savio Freelance Pimp

    Age:
    45
    Posts:
    8,221
    Likes Received:
    0
    Joined:
    Jan 7, 2003
    Location:
    Redondo Beach
    ~ 5WB for 1 WFC (for all you non math geniuses)
     
Page 3 of 7

Share This Page