just wondering how the take over is affecting previous wm employees. lets see they got nothing for their stock and got zeroed out of there 401k, and now they work for the company that did this to them---- hmmmmm i would not want to be long in jpm!!!
I agree. Most employees own stock in their company and that’s a good thing. My point is, if your Retirement Account balance has more than 30% in a single stock, you have no one to blame but yourself.
And JPM did not “Steal” the company. They were the winning bidder, out of many bidders. WAMU management drove the company into the ground with their greed and their desire to keep their jobs. They made the bet, and the shareholders lost.
"Please post the link to the article that states there was no deadline or pressure on WAMU management to act with urgency. I’d like to see the source of that information."
I would like to see someone prove a non-event as well.
Could you prove to me there are no purple elephants?
news reports are that the employees 401k's are in tact. they didn't just disappear but they will not be reimbursed for any WM stock that they held nor will their restricted stock / stock options be converted to JPM.
their pension will be preserved although JPM was not obligated to do so since it is an unfunded fund. so, really, the only thing that employees are losing is the stock. if you could not afford to lose it.. you had no business holding individual stocks in your retirement / 401k's.
“…. and now they work for the company that did this to them….”
Back in April, JPMorgan made a bid to buy WaMu for $8 per share. WaMu rejected that deal, some think because then-CEO Kerry Killinger didn't want to lose his job.
Why can’t you admit that it was WAMU management the “did this to them”?