The Earth Times Online Newspaper (Free subscription) | 08/29/2008
NEW YORK (Reuters) - Wachovia Corp should not need to raise dilutive capital and sales of non-core assets will likely total hundreds of millions of dollars, not billions, Chief Executive Robert Steel told an analyst.
Reuters (Free subscription) | 08/29/2008
NEW YORK (Reuters) - Wachovia Corp should not need to raise dilutive capital and sales of non-core assets will likely total hundreds of millions of dollars, not billions, Chief Executive Robert Steel told an analyst.
Examiner (Free subscription) | 08/12/2008
Wachovia Corp. said Monday it plans to cut 600 more jobs than it previously expected as it works to reduce expenses in the face of staggering losses tied to mortgage debt.
Seattle Times (Free subscription) | 08/12/2008
Wachovia Corp. said Monday it plans to cut 600 more jobs than it previously expected as it works to reduce expenses in the face of staggering losses tied to mortgage debt.
The Washington Times (Free subscription) | 08/12/2008
Wachovia Corp. said Monday it plans to cut 600 more jobs than it previously expected as it works to reduce expenses in the face of staggering losses tied to mortgage debt.
Seattle Post-Intelligencer (Free subscription) | 08/12/2008
NEW YORK -- Wachovia Corp. said Monday it plans to cut 600 more jobs than it previously expected as it works to reduce expenses in the face of staggering losses tied to mortgage debt.
NakedShorts (Free subscription) | 08/13/2008
Back whenever it was that News Corp chairman Rupert Murdoch announced the long-rumored Fox Business Channel (current viewership: ± 0) he declared it would take a “business friendly” worldview, or words to that effect. The memo appears to have reached...
NewsObserver.com - Business (Free subscription) | 08/12/2008
Wachovia's current problems stem largely from its acquisition of mortgage lender Golden West Financial Corp. in 2006 for roughly $25 billion at the height of the nation's housing boom. With that purchase, Wachovia inherited a deteriorating $122 billion portfolio of Pick-A-Payment loans, Golden West's specialty, which let borrowers skip some payments.
SignalBlog (Free subscription) | 08/12/2008
Wachovia Corp. said Monday it plans to cut 600 more jobs than it previously expected as it works to reduce expenses in the face of staggering losses tied to mortgage debt. According to its quarterly filing with the Securities and Exchange Commission, the bank now expects to eliminate 11,350 positions, including 6,950 active employees and 4,400 [...]
Star Tribune (Free subscription) | 08/12/2008
Wachovia's current problems stem largely from its acquisition of mortgage lender Golden West Financial Corp. in 2006 for roughly $25 billion at the height of the nation's housing boom. With that purchase, Wachovia inherited a deteriorating $122 billion portfolio of Pick-A-Payment loans, Golden West's specialty, which let borrowers skip some payments.
CNNMoney.com (Free subscription) | 08/12/2008
NEW YORK (AP) -- Wachovia Corp. said Monday it plans to cut 600 more jobs than it previously expected as it works to reduce expenses in the face of staggering losses tied to mortgage debt.According to its quarterly filing with the Securities and Exchange Commission, the bank now expects to eliminate 11,350 positions, including 6,950 active employees and 4,400 open positions.Last month, upon...
The Earth Times Online Newspaper (Free subscription) | 08/11/2008
NEW YORK (Reuters) - Wachovia Corp , the fourth-largest U.S. bank, said on Monday it expected to eliminate 11,350 jobs, more than it previously disclosed, as conditions deteriorate in the housing market.
The Earth Times Online Newspaper (Free subscription) | 08/05/2008
NEW YORK (Reuters) - Wachovia Corp shares rose as much as 8.4 percent on Tuesday after analysts expressed confidence that new Chief Executive Robert Steel, whom many met for the first time a day earlier, can turn around the fourth-largest U.S. bank.
CFO (Free subscription) | 08/01/2008
... pared its dividend 41 percent.Much of Wachovia's problem stems from its 2006 acquisition of Golden West Financial Corp. for about $25 billion at the top of the real estate boom. Golden West was known for underwriting some of the most "creative" mortgage loans, including the so-called "Pick-A-Payment" loan option. Under that program, which Wachovia recently halted, borrowers could...
Business Spectator (Free subscription) | 07/25/2008
Wachovia CFO to leaveTOP News The SpectatorsReuters NEW YORK -- Wachovia Corp , which on Tuesday posted a record $US8.86 billion second-quarter loss, has said Chief Financial Officer Thomas Wurtz plans to leave the fourth-largest US bank after a successor is named. The Charlotte, North Carolina-based lender said it will begin an immediate search for a replacement, according to a statement released...
