Word: wachovia
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...have a mortgage with Washington Mutual - or Wachovia - and now I see hear talk about those companies, too. Should I be worried...
...year, leaving it once again a stand-alone candy company. And a relatively diminished one. Cadbury was dethroned as the king of candy by the surprise buyout of Wrigley by Mars, giving Mars-Wrigley a 14.4% share of the global confectionery market, compared with Cadbury's 10.1%, according to Wachovia Capital Markets...
...newly spun-off Dr Pepper Snapple Group a bit of a soft-drink Frankenstein, cobbled together from odd parts. Dr Pepper has acquired about $1.2 billion in bottling assets over the past two years, and that will likely continue, which bodes well for its longer-term outlook, says Wachovia analyst Brian Scudieri. Young is predicting that the Dr Pepper Snapple Group will deliver annual revenue growth of 3% to 5% and earnings-per-share increases in the high single digits over the next few years...
...changing in the face of competition. In 2004 Mibanco had 30 branches; today it has 81, as the firm pushes into remote areas--the coasts, the mountains--trying to hold off commercial banks. Mibanco has started offering savings accounts and has gone to the likes of North Carolina--based Wachovia to finance growth, which helps Mibanco reach more than 5,000 new clients a month. All of that ostensibly benefits borrowers...
...when companies do voluntarily split the CEO and chairman roles, it is frequently in response to poor performance or shareholder pressure - even if the decision is framed as a broader commitment to good corporate governance. In early May, Wachovia, which like many banks has been severely battered by the credit market meltdown, took its chairmanship away from CEO Ken Thompson and gave it to long-time director Lanty Smith. In a statement, Wachovia said it "recognized the importance of strong independent leadership," but Thompson also pointed out that the move would free him "to focus 100% of my time...