Chase exceeded expectations. WFC is kinda meets, kinda exceeds… but for the full year we’ll get inconsistently meets. And so the stock is down more than the market. These results are from a dysfunctional company that can’t grow and can only windowdress the financials.
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Don't forget how many contracts Chase has with the government. These contracts will be re-evaluated with cost cutting in the current administration. Anticipate change.
"I can say with absolute certainty that the negative culture shift has directly had a negative impact on my performance, because I quite literally have no idea what I'm supposed to do half of the time. I can also say with certainty that this is true for just about all the coworkers in my orbit, as well. I have to think this is probably true for wide swaths of employees, which will ultimately reflect in overall company performance."
've been in my job family for going on 9 years, moved to a new team a year ago and this is 100% true of everyone I've talked to on this team. Literally everyone is foundering and in full-on imposter syndrome. Even I, who should know the job pretty well, am mostly guessing day to day due to frequent changes in direction. My manager is focused only on the tracking metrics and doesn't give anyone meaningful feedback or information. I'd have to guess this is true for most people who aren't working on some narrowly defined set of tasks.
Charlie isn’t a CEO who knows how to grow a business. At VISA, BoNY, WFC all he has shown he is capable of doing is running a chainsaw.
stock fell 5.48% today. Probably another 3-5% tomorrow (when the downgrades come). Focus NII. trends not changing much. Good expense control. more activity with clients. I guess fee income been constrained by asset cap? Expect all lines to grow. Simplify business, focus on growth areas. Health of consumer is good. Investments doing good. Credit good. Spending up in cards. https://www.msn.com/en-gb/money/economy/wells-fargo-cfo-says-consumers-businesses-in-good-shape/vi-AA1IFAsn
So life is good. So one reason you were laid off is cause they wanted to simplify the business.
The stock has had a 20% run up before earnings, but don't let those facts get in the way of your agenda.
@a3 The patient has been harmed irreparably for too long, unfortunately. Its future is relegated to dispassionate wheelchair pushstrolls through the garden with an unemptied drool cup and soiled undergarments.
lol who was the person in another thread saying WFC will jump 7%? The asset cap is lifted, great. Now let's dump CS and try to get back to some semblance of what WF used to be.
Sure, we had a couple bad apples that led to a serious problem. From there, we all worked our as--s off to correct it. The biggest thanks we get is $2000 and then shown the door. The company won't perform so long as the culture continues to be so highly toxic.
I can say with absolute certainty that the negative culture shift has directly had a negative impact on my performance, because I quite literally have no idea what I'm supposed to do half of the time. I can also say with certainty that this is true for just about all the coworkers in my orbit, as well. I have to think this is probably true for wide swaths of employees, which will ultimately reflect in overall company performance.
Time to bring in some compassionate servant leaders to inspire us to grow and get rid of the robber barrons, starting at the top.
How much damn bigger do you people think it can grow? There are only 4 &1t+ banks in the entire system. How about you just sit tight and be comfortable with that. Want to go do some cowboy 💩 investing, get out of the blue chips.