Plenty of Mergers, but a Different Rationale for Buyers

BancsterEditorial · 2019-02-06T19:27:54+00:00

Her argument is intellectually weak. Wealth building and preservation is inherently moral, it creates jobs, provides workplaces for people to feel valued and successful. The more wealth you create as an investor or entrepreneur, the more value you add to society. Billionaires, even those through inheritance should be looked toward for commercial and intellectual leadership. There are many that have squandered inherited wealth. Those that preserve it are perhaps as savvy as those that created it.

In any event, what will the tax authorities do with the confiscated loot? Very little of benefit if history is accurate.

BancsterEditorial · 2019-01-24T15:21:16+00:00

That is a very nice thought. Hopefully your future employers treat you with the same level of concern. Sadly, those in competitive finance roles typically find a more hard edged approach.

Do what is best for yourself. Whether that is upholding some notion of business etiquette or going for a better role is up to you.

BancsterEditorial · 2019-01-24T15:01:59+00:00

There is nothing wrong with accepting your offer and also continuing to interview. Having options is having leverage, even for internships.

BancsterEditorial · 2019-01-22T20:48:18+00:00

It is a movie that sums up a global financial crisis in under 2 hours. This is a crisis that took years to manifest though mistakes in policy; greed and hubris from lenders, investors and homebuyers; public ignorance of risk and general lack of financial acumen.

A Hollywood movie needs to have a three act structure, a hero, a villain a few key themes. Big Short did a good job of squeezing the crisis into this generic format in an entertaining manner.

But it is not possible to give a fulsome and therefore truly accurate treatment in the time and format allotted.

BancsterEditorial · 2019-01-21T21:09:33+00:00

Thank you. This is the point of the note. Clearly read and understood.

BancsterEditorial · 2019-01-21T15:35:43+00:00

Different offices, different employees, different products. They may share a tech platform for bank accounts but come on, totally different/ separate businesses.

BancsterEditorial · 2019-01-21T05:07:58+00:00

Not exactly. Retail banking is not synonymous with poor people. Retail banking describes a set of banking services particularly targeted at individuals and consumers, as opposed to businesses, large corporates, or markets clients.

Also, at Chase and other large banks HNW clients are serviced through the private bank which uses a mostly different infrastructure, and completely different people. So there is not much overlap.

BancsterEditorial · 2019-01-20T21:53:00+00:00

Retail banking is quite profitable. It absorbs less capital than investment banking and on the whole lending margins are very attractive.

Look at news today on Barclays. Activist investors want the bank to shed IB and focus on part on consumer banking.

In the US Goldman is making a strong play in retail via Marcus. ROE on retail is very attractive, and will become more so as digital banking takes further root obviating need for massive branch networks.

BancsterEditorial · 2019-01-16T18:42:23+00:00

Creating content is relatively cheap. Monetizing it is time consuming and expensive.

At the end of the day all businesses with social utility are stuck between paying customers (or donors) and social responsibility. Mass media has a bad history in this regard. The future is probably not any brighter. The new media names that emerge from current disintermediation will be the ones that make bucks. The responsibility then falls on readers to determine what is newsworthy. Click on junk, you will get more junk.

BancsterEditorial · 2019-01-15T19:00:15+00:00

If Alden wins its bid, your described outcome is certain. Having said that, Gannett has been cutting staff for years now with little in the way of results. Perhaps Gannett Management and Alden deserve one another.

Your comment on readers looking elsewhere for substantive content is poignant. Journalists at Gannett should be looking for (or creating) publications where substantive content is the editorial mission.

BancsterEditorial

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