It seems Wells Fargo can’t decide which side of the street to walk on. The company received billions of dollars in federal funds and appears to be on a PR roller coaster – enjoy the ride!
Part 1 – Profit! Profit! Profit!
April 9, 2009 Wells Fargo announced it expected record earnings for the first quarter to the tune of $3 billion – which easily surpassed analysts’ estimates. This news also shot the stock market upward across the board.
But, like most news lately, it would not last. It was Wells Fargo’s equivalent of a bad one night stand – “Hey, I will call you soon.”
Part Two: 4 days later – Wait, the Sky is Falling Again!
April 13, 2009 Wells Fargo announced they might need $50 billion to pay back the federal government and cover loan losses as the economy deepens.
Kind of gives you that warm fuzzy felling don’t it?
***Special Note*** I may stay in touch with Wells Fargo and have “fun” updating this one for the next 30 days or so…just to see what news we get.
Fine, I suppose this is where you look for some witty insights to my mind. A "bio" of sorts. Here is the deal... I ride motorcycles, smoke cigars, golf, kayak, fly, race my car through the mountains, write (a lot), and travel extensively. I am almost old enough not to care what other people think about me...almost. ~Godfadr
what is wells fargo?
Ok, Danica, I will apologize in advance when asking if you are being witty or really don’t know (no judgement either way).
If you know who they are – very funny.
If you don’t – They are a fairly large bank. More of them out west than the rest of the country, although they are starting to pop up in a few new cities.
lol i didnt but thank you for clearing it up again.