to analyze the dealings and negotiations between the merge of Wells Fargo & Company and Wachovia Corporation. Wachovia Corporation had been in talks with Citigroup regarding the merging of the two companies around the end of September in 2008. By September 28‚ 2008‚ Wells Fargo had expressed an interest in obtaining the Wachovia Corporation and by October 3‚ 2008‚ announced that they were going to go through with the merge. “Wells Fargo had expressed interest in buying Wachovia‚ but suddenly withdrew
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and social responsibility aspects of the Lori Wigod vs. Wells Fargo case. State and federal law will be discussed in the legal section and analyzed in accordance with the case. In the ethics section three very popular ethical theories will be reviewed that will encourage open-mindedness from the reader. Finally‚ the social responsibility section will take into account both the law and ethics among other characteristics to see if Wells Fargo was benefiting or hurting society. Table of Contents
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Wells Fargo is considered one of the largest financial institutions in the US and one of America’s largest employers with more than 150‚000 team members. Wells Fargo is a successful financial institution because they grow with people and technology. Technology such as computers‚ cell phones‚ i-pods‚ webcams‚ and other new technology devices are reshaping the way we play‚ communicate‚ and plan our lives and where we work. Wells Fargo uses their website to provide information to its customers‚ investors
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Wells Fargo has been in the news lately over ethical allegations that the bank’s employees‚ driven by strict sales quotas‚ regularly opened new accounts for customers without their knowledge. City and federal officials have reached a settlement of at least $150 million with Wells Fargo. The settlement‚ according to documents reviewed by The Times‚ calls for the San Francisco banking giant to pay $50 million in penalties to local officials and to compensate account holders for fees related to bogus
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Commercial Bank: Wells Fargo Background: Wells Fargo is the largest bank in terms of market capitalization and the fourth largest bank in the United States in terms of assets. The present Wells Fargo is a result of a merger between San Francisco-based Wells Fargo & Company and Minneapolis-based Norwest Corporation in 1998. Later on October 3‚ 2008‚ Wells Fargo acquired Charlotte-based Wachovia for about $15.1 billion in a stock-for-stock transaction. Its headquarters is currently located in
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unethical behavior I found a very interesting article about Wells Fargo & Company. I found this article particular interesting because I do much of my personal banking at Wells Fargo bank.
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The Perfect Match: Wells Fargo vs. Bank of America The banking industry is highly competitive. The financial services industry has been around for hundreds of years. Wells Fargo has many competitors itself. In this paper‚ I will be doing a comparison of Wells Fargo & Company (WFC) and one of its biggest competitors‚ Bank of America Corporation (BAC). By analyzing looking at the financial ratios‚ one can see whether the company is successful or not. In the following‚ I will try to analyze and
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Wells Fargo & Company is a neighborhood based financial services company headquartered in San Francisco‚ California‚ with many awards such as “Most Admired” amongst the world’s leading banks by Fortune magazine and "Best U.S. Bank” by The Banker magazine. These awards were given before the whole scandal blew up and tarnished the Wells Fargo name. Due to many allegations‚ as of today they are not so highly acclaimed‚ losing many of their customers. The Wells Fargo & Company fired nearly 5‚ 300 employees
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and implications for the same will be provided. In the next section‚ strategic groups operating in the Automobile industry will be identified and analyzed. A Strategy Canvas will be formulated and blue ocean space will be suggested. Lastly‚ generic strategy as pursued by strategic group will be explained along with its response to macro and industry forces. The reports will conclude with a summary of key findings. 2. INTRODUCTION 2.1 Rationale for the research The research
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Kovacevich CEO and chairman of Wells Fargo’s 2) Company Profile of Related Case Study History: Origins Soon after gold was discovered in early 1848 at Sutter’s Mill near Coloma‚ California‚ financiers and entrepreneurs from all over North America and the world flocked to California‚ drawn by the promise of huge profits. Vermont native Henry Wells and New Yorker William G. Fargo watched the California boom economy with keen interest. Before either Wells or Fargo could pursue opportunities offered
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