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 6 of 7
  1. Oct 8, 2008 at 9:16 AM #51
    DaveW

    DaveW Super Moderator

    Age:
    54
    Posts:
    25,782
    Likes Received:
    1
    Joined:
    Jan 7, 2003


    you still comb the high school parking lots.
     
  2. Oct 8, 2008 at 9:26 AM #52
    VA49er

    VA49er Full Access Member

    Posts:
    22,561
    Likes Received:
    4
    Joined:
    Jun 14, 2003
    I've read they are talking about splitting WB between the two. It seems both Citi and WB would walk away from that because then what they would get would not be what they wanted in the first place.
     
  3. Oct 8, 2008 at 3:58 PM #53
    Big Stick

    Big Stick Full Access Member

    Posts:
    107
    Likes Received:
    0
    Joined:
    Apr 15, 2008
    Dave, sorry your panties are in a wad.

    I guess you wanted me to say that everyone running First Union, I mean Wachovia and C, are geniuses and are always looking after the best interests of thier EE's and shareholders and we should reprice all their underwater stock options.

    I feel for the ones who have been wiped out financially and for the ones who will lose thier job because of the incompetence of the ones running these once fine companies into the ground. The ones responsible walked away with millions.

    Hopefully, what ever happens, job losses will be at a minimum and the issue is resolved very soon.
     
  4. Oct 9, 2008 at 6:14 PM #54
    meatpile

    meatpile 7-9

    Age:
    53
    Posts:
    35,132
    Likes Received:
    138
    Joined:
    Jan 7, 2003
    Location:
    All up in Boo's mama
    Wells Fargo - Win.
     
  5. Oct 9, 2008 at 8:10 PM #55
    CunningRunt

    CunningRunt Full Access Member

    Age:
    45
    Posts:
    1,700
    Likes Received:
    0
    Joined:
    May 4, 2006
    Location:
    Midgetburgh
    This is awesome..now maybe NBC Nightly News can redo their story they ran tonight.
     
  6. Oct 10, 2008 at 2:30 AM #56
    Bootay

    Bootay Poppycock

    Age:
    54
    Posts:
    2,246
    Likes Received:
    0
    Joined:
    Jan 9, 2003
    Location:
    Rangoon
    It's not over yet. Citi suing WB for $60B would kill the deal. All Citi did was agree that there was no way they would get what they wanted nicely, and what they wanted was a LOT of branches, a LOT of deposits, AND the people and technology to run them... Citi has a horrible track record with branches, so they needed it all, and that wasn't in the cards, so now we get a big time lawsuit that could crush WB/WF. It'll suck if it drags out forever with no conclusion, leaving uncertainty on top of the companies and their stock...
     
  7. Oct 10, 2008 at 7:17 AM #57
    meatpile

    meatpile 7-9

    Age:
    53
    Posts:
    35,132
    Likes Received:
    138
    Joined:
    Jan 7, 2003
    Location:
    All up in Boo's mama
    Citi bids $2B to buy = $1 share
    Wells bids $14B to buy = $7 share

    $60B lawsuit = $? share?

    Is the above close to being right?
     
  8. Oct 10, 2008 at 9:25 AM #58
    Bootay

    Bootay Poppycock

    Age:
    54
    Posts:
    2,246
    Likes Received:
    0
    Joined:
    Jan 9, 2003
    Location:
    Rangoon
    no.

    Citi bids $2.1b for retail banking operations only. That leaves WB with substantial valuable assets, making the whole deal worth something like $5-7/share.
    WF bids .1991 shares of Citi for each share of WB. So, today, that's $5/share.

    Lawsuit = huge $$ per share, but that's not the important part, it'll consume capital when cash is king. That's a company destroyer.
     
  9. Oct 10, 2008 at 9:58 AM #59
    meatpile

    meatpile 7-9

    Age:
    53
    Posts:
    35,132
    Likes Received:
    138
    Joined:
    Jan 7, 2003
    Location:
    All up in Boo's mama
    From a long term business perspective - would citi be wise to destroy wachovia - killing a substantial competitor?
     
  10. Oct 10, 2008 at 10:32 AM #60
    NYFinancialPro

    NYFinancialPro Junior Member

    Posts:
    4
    Likes Received:
    0
    Joined:
    Oct 10, 2008
    That is all negotiated in the merger or takeover, thats why the different companies bid on taking over Wachovia.... they all offer how much they will give in their shares for each wachovia share. It is up to the directors for wachovia to negotiate the best deal for its shareholders.
     
Page 6 of 7

Share This Page