Wells Fargo Projects $3 Billion Profit in 1st Quarter 2009

April 11, 2009 by Scott Smolen · Leave a Comment
Filed under: Scott 

Once the markets have a chance to rinse out the weak businesses, the strong will survive bigger and more powerful than ever before in any industry or profession.  This is exemplified when Wells Fargo announced that they are forecasting all time record profits.  Similar to the dot.com bubble in the 1990′s, the strong businesses will survive while weak companies will disappear.  US banking giant Wells Fargo projected Thursday a “record” three-billion-dollar profit in the first quarter, sparking hopes of recovery from a financial crisis that is battering the economy.  The bank said “it expects to report record net income of approximately three billion dollars for first quarter 2009,” thanks in part to a stronger than anticipated performance by its new unit Wachovia.  Our business momentum is strong, and we expect our operating margins to remain at the top of our peer group,” said Wells Fargo chief executive John Stumpf.

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  • Scott Says...

    In today's market, communicating with Buyers in the manner that they prefer is key to building success as a Realtor and / or loan officer. This is a great article that hits the nail right on the head from agents in the business. http://rismedia.com/2009-08-26/first-time-home-buyers-dominate-real-estate-market/

    • Ed Says...

      In only two years, the iPhone has dramatically transformed the mobile web. There's a tendency toward touchscreen devices for mobile web browsing; the iPhone has already claimed 50% of mobile web traffic. Google's Android OS was the only other platform gaining with 5%.Sadly, Palm continues its downward spiral. Scott needs something more modern and respectable - a BlackBerry, perhaps. Someone please pick him up off the floor![AdMob via mocoNews.net]