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- #5,261
OneFineAcre
Herd Master
Newspaper.
One Fine Acre - 2023 4H Steer Project Update
- Thread starter OneFineAcre
- Start date
Newspaper.
Baymule
Herd Master
There is a local news paper, but it is not printed here. But now that i know where to snoop around for those, I'll keep it in mind.
- Thread starter
- #5,263
OneFineAcre
Herd Master
So I had a very interesting day at work yesterday. I received a text at 6 am that I needed to log on and join a 7 am conference call. Hmmm what can this be about? Well, I thought to myself "merger". That would be the kind of thing we would announce early in the morning.
I was right. If any of you watch CNBC or any of the business channels it was pretty big news. It's the largest bank merger since the "financial" crisis. The new combined company will be the 6th largest bank in the country.
Now we have been very active in mergers and acquisitions for a while, but we have always been the buyer. This is going to be a "merger of equals", it is a company that is almost the same size as us. Technically, we are the buyer but for all intents it is going to be a true MOE.
So, that means the job cuts will be across both company's. When you buy a smaller company, they are the ones that have jobs cut.
So I should find out in the next 45 days if I will have a job going forward. I have 11 people who report to me so I have spent the last couple days trying to reassure them as best I can. I know some things about our area of responsibility with the other bank, I've actually consulted with them regarding best practices before. I'm telling my people they should be OK because we do what we do better than they do.
For me personally, I've been responsible for a component of our past mergers and have a certain level of "expertise" in that regard. The other company hasn't done a whole bank merger in 15 years, I've done 4 in the last 9 years .
The merger should be good for our shareholders, clients, employees (the ones who keep jobs) and the communities we are in. Of course, Maxine Waters and Elizabeth Warren don't like it. They have both already written letters to the chairman of the Fed against the merger. I will say though that we are pretty savvy in that area. I doubt we would have announced it if we didn't have a good idea it will be approved.
I was right. If any of you watch CNBC or any of the business channels it was pretty big news. It's the largest bank merger since the "financial" crisis. The new combined company will be the 6th largest bank in the country.
Now we have been very active in mergers and acquisitions for a while, but we have always been the buyer. This is going to be a "merger of equals", it is a company that is almost the same size as us. Technically, we are the buyer but for all intents it is going to be a true MOE.
So, that means the job cuts will be across both company's. When you buy a smaller company, they are the ones that have jobs cut.
So I should find out in the next 45 days if I will have a job going forward. I have 11 people who report to me so I have spent the last couple days trying to reassure them as best I can. I know some things about our area of responsibility with the other bank, I've actually consulted with them regarding best practices before. I'm telling my people they should be OK because we do what we do better than they do.
For me personally, I've been responsible for a component of our past mergers and have a certain level of "expertise" in that regard. The other company hasn't done a whole bank merger in 15 years, I've done 4 in the last 9 years .
The merger should be good for our shareholders, clients, employees (the ones who keep jobs) and the communities we are in. Of course, Maxine Waters and Elizabeth Warren don't like it. They have both already written letters to the chairman of the Fed against the merger. I will say though that we are pretty savvy in that area. I doubt we would have announced it if we didn't have a good idea it will be approved.
Baymule
Herd Master
I hope you get to keep your job. It is business. Business grows, it grows faster when it can buy other businesses. You are experienced in this, so logic says that you will stick around.
frustratedearthmother
Herd Master
- Joined
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Hope it works out well for you!
B&B Happy goats
Herd Master
Good luck with the job, and major Congradulations on hitting the 5 month mark. It will be two years August 13th for us......be proud of yourself...non smokers don't get how hard it is...keep up the great work, your body will thank you 
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goatgurl
Herd Master
first let me congratulate on another now smoking milestone. you can do this, even with the stress of the bank merger and all that entails. big news for your bank. i'm sure there are a lot of your co-workers that are concerned. I always hated when the place I worked at merged with someone else, rocked my little boat when I like things steady but we all always make it thru some how. good luck and again congrats on the no smoking milestone.
- Thread starter
- #5,268
OneFineAcre
Herd Master
Baymule
Herd Master
Good attitude.Maybe I will. But, if I don't then I'll do something else.
- Thread starter
- #5,270
OneFineAcre
Herd Master
Went out an bought myself a present today.
Smith and Wesson M&P 15 Sport II.
Now that right there says "Freedom".
Smith and Wesson M&P 15 Sport II.
Now that right there says "Freedom".
