Banking Times: Daily Banking News (Free subscription) | 9 hours ago
Anne Doss has been named by Wachovia Wealth Management as the new managing executive of Wachovia Insurance Services. Doss is a veteran with the firm, having served there for over two decades, and succeeds Stewart McDowell who held the post for five years. Her most recent position was head of banking integration with Wachovia Insurance Services, which [...]
The Reasoned Sceptic (Free subscription) | yesterday
A combination of Wall Street Journal articles from yesterday and mid-July gave me the inspiration for this post. The mid-July piece described Wachovia's new CEO Robert Steel's initial moves to hold that ailing bank together in the wake of the damage done, and still being realized, by Ken Thompson's quest for growth and size. What caught me by surprise was Wachovia board chairman and CEO search committee...
DealBook (Free subscription) | 08/05/2008
Wachovia’s chief executive indicated to Wall Street analysts Monday that the recent shake-up in the management was over and that he was close to finding a new finance chief, The Wall Street Journal reported. Robert K. Steel, who recently took the bank’s top spot, also said he “didn’t think” a new capital raise was needed and [...]
DealBook (Free subscription) | 08/04/2008
After a strong performance last week, Wachovia shares appeared to fall back to earth on Monday, having dropped as much as 10.3 percent. That’s a sobering change from last week, when Wachovia shares gained 31 percent. But according to Robert Patten, an analyst at Morgan Keegan whom press reports named as the main source of Monday’s [...]
Home Personal Finance (Free subscription) | 08/04/2008
Reuters - Wachovia Corp shares fell as much as 10.3 percent on Monday after an analyst said investors should sell the shares of the fourth-largest U.S. bank and avoid the pain likely to result from repairing a balance sheet bloated with mortgage and real estate loans.
Bronte Capital (Free subscription) | 08/01/2008
I get about two emails a day seeking my views on Wachovia. I am going to disappoint people who want a really detailed examination. But I will give my quick views before I get to the real point of this post: Wachovia is a bank with a credibility problem and a funding problem. Whereas I think a smash-em-up insolvency is unlikely at WaMu because WaMu has enough core deposits the same is not true at Wachovia....
SignalBlog (Free subscription) | 08/01/2008
Wachovia Corp. announced Thursday that its chief risk officer plans to retire, the latest departure from the troubled bank as it seeks to recover from massive losses tied to mortgages. Wachovia said in a statement that it would begin an immediate search for a replacement for Donald Truslow. Wachovia didn’t disclose Truslow’s age and a bank [...]
Wyatt Preul - The Geek Cowboy (Free subscription) | 08/05/2008
I logged into my account at Wachovia with plans to change my password. It is a good idea, I believe, to periodically change your passwords, especially passwords related to financial accounts. When I went to the change password page, Wachovia didn't ask me my original password, but instead only asked for a new password, and to confirm my new password. This is a bad practice to not ask for the original...
Biofuels Digest (Free subscription) | 08/05/2008
In California, Pacific Ethanol reports that it will commence production at its 50 Mgy corn ethanol plant in Stockton, remains committed to a demonstration scale cellulosic ethanol plant in Boardman, Oregon, and has secured an expended $40 million credit facility through Wachovia. The completion of the Stockton plant will complete the company’s plant to reach [...]
SignalBlog (Free subscription) | 20 hours ago
Looks like Wall Street bankers can kiss those fat bonuses goodbye this year. Some bankers’ bonuses will be slashed by nearly half in 2008, and most can expect a 15% to 25% reduction from last year’s levels, according to a recent projection from compensation consultancy firm Johnson Associates. Johnson Associates expects the big wigs to give up [...]
PR News Wire (Free subscription) | yesterday
TYSONS CORNER, Va., Aug. 6 /PRNewswire-USNewswire/ -- Road Warriors are finally getting a competitive edge when they stay at the Crowne Plaza Tysons Corner hotel in McLean, VA. Wake up in any of the hotel's recently modernized guestrooms and feel the effects of an entire night reenergizing in a Crowne Plaza Sleep Advantage(R) Bed Ensemble. To celebrate the conversion of the Crowne Plaza Tysons Corner...
Navivest Stocks and Options Blog (Free subscription) | yesterday
With stocks rallying rather sharply yesterday 08/05/08, posting their biggest one day gain in four months, the convincing manner in which stocks moved yesterday could turn out to be a bear trap that’s ensnared investors who got in yesterday afternoon, after they saw stocks hold on and tack on to early gains. Since May 1st of this year [...]
A.E. Feldman Blog (Free subscription) | 08/05/2008
Risk management has become an offensive field. Corporate boards today face unparalleled levels of business complexity, new regulations and mounting shareholder demands. As a result, executive search firm, A.E. Feldman, says risk management jobs are evolving to better manage initiatives to ensure that business objectives are met, losses are minimized, business processes are improved and [...]
Real Time Economics (Free subscription) | 08/05/2008
Elizabeth A. Duke was sworn in this morning as a member of the Federal Reserve’s Board of Governors, allowing her to participate and vote in today’s Federal Open Market Committee meeting. Elizabeth Duke testified on Capitol Hill last August. AP Photo. Ms. Duke (who goes by Betsy) was nominated in May 2007, but an impasse in [...]
MarketBeat (Free subscription) | 08/04/2008
Sooner or later, every company in a hyper-growth industry becomes part of the rest of the economy, with cycles like any other. Satellite television has been around for a while, and has had ups and downs, but Dish Network Co.’s first-ever decline in subscribership in its most recent quarter illustrates that the industry cannot simply [...]
