Short Attention Span for a Monday
Posted September 15th, 2008 at 2:30 PM by Jeff A. TaylorBla blah blah. Bla.
- Supporters of football for
UNCCUNC Charlotte will gather at the Belk Tower tomorrow night for a march to the chancellor’s home to draw attention to their cause. Bring cash. Lord knows that is what talks in this town. - Still wondering how BofA is gonna talk Merrill Lynch execs into moving to Charlotte. Oh that’s right, they won’t. Forget all the talk of ML running BofA’s private wealth op from the inside as if nothing had changed. I give it a couple quarters before Ken Lewis starts chopping away. Very little of ML will be left. It is the BofA way. Think the Borg.
- Don’t look now, but CMS may have missed student enrollment growth projections for this year by one-half to one-third. Again. Enrollment is barely growing at CMS, which is sitting at 134,000 students. This is a huge deal we’ll have to follow.
- Boy, Joe Biden is really lighting up the campaign trail, uh? That crowd over at Berry this weekend was barely awake. And “Bush 44″ — that’s really the best Joe can do? Someone get Neil Kinnock on the phone for a re-write.
- The Perils of Truth — Newspaper editor calls readers of a bridge column “cranky retirees who have time on their hands.” Great start, then ruined by an apology. Why?
That should do for now….Oh look! A shiny thing!
September 15th, 2008 at 3:29 pm
Actually the cuts are more likely at BofA investment banking.
Merrill Lynch has top ranked investment bankers (except the mortgage group).
BofA is filled with 2nd and 3rd class guys with much thinner connections.
Merrill brokers manage an average of $100+ million per broker. I bet that is double the average for more BofA brokers.
Those are sticky relationships and the assets tend to follow the broker.
I would not be surprised if Merrill Lunch remains as a division of Bank of America. The Merrill Lynch name is still valuable.
Smith Barney is still alive within Citibank.
https://www.smithbarney.com/
September 15th, 2008 at 4:19 pm
I hope you are right, but that is not typically how BofA has rolled over the years. They’ll try to identify a handful of “key” ML execs to play with and exclude the rest.
But most all, I just don’t know. No one does. We’ve never been thru anything like this before. One thing I’m thinking on right now, do the events of the last 48 hrs. seal the fate of Wachovia and/or Citi?
September 15th, 2008 at 6:13 pm
Jeff, your right about Borg of America. The only ones to survive at ML will be a few key execs as you say and the janitorial staff at ML HQ. If you didn’t start your career at BofA or Nations Bank, you will not last long at BofA.
September 16th, 2008 at 12:38 pm
The Borg do a better job at assimilation than Species 8472 across town.
Ensign S. A. Thibedeau-U.S.S. Athena NCC-080188
September 16th, 2008 at 1:21 pm
I want to know how UNC Charlotte footbal is going to compete for recruits against the established programs in this state. They won’t be poaching recruits from the 4 ACC programs, ECU, or even App. Against Western and Mars Hill, maybe, but that talent won’t win too many football games.
September 16th, 2008 at 1:28 pm
$50 billion? MER only made $46 million/an in its prime. IMO, BofA overpaid again. And why commit to the deal on Sunday? Why not wait for Monday’s opening and the impending price drop?