A press release early this morning announced that Wells Fargo was purchasing Wachovia as an intact entity, and avoiding the need for government assistance in the buyout. This is a major change from the word received earlier this week that would have had Wachovia’s retail banking operations purchased by New York-based Citigroup. The new deal is worth $15.1 billion. We’ll update as more information becomes available.
Tag Archives: Wachovia
Change of plans: Wells Fargo’s buying Wachovia
Posted in Business
Tagged Alabama, announcement, Banking, Birmingham, merger, Wachovia, Wells Fargo
UPDATE: Reports that Citigroup purchases Wachovia
The New York Times is reporting that Citigroup has agreed to purchase the banking operations of Charlotte, NC-based Wachovia (portions of which are formerly Birmingham based AmSouth Bank sorry, SouthTrust Bank) for $1 a share. We’ll see if we can’t get more information for you as it becomes available today.
So how are you dealing with the financial crisis? Let us know as you answer today’s Magic City Question!
Langford’s had a busy day…
Mayor Langford speaks to students at Phillips Academy during Wachovia’s Way2Save event on April 22. acnatta/Flickr.
Larry Langford’s been a busy individual this morning. Here he’s seen talking to area school children during today’s Wachovia Way2Save event. Representatives from four area schools each received $2,000 for their scholarship funds at the event. The mayor spent most of the time he was at the event taking pictures with the children and answering questions about this morning’s approval of his proposal to pay for free bus rides in Birmingham beginning in May and running through August by the City Council.
According to the blog post made earlier today by The Birmingham News, the BJCTA board still needs to approve the proposal during their board meeting tomorrow.
Posted in Citywide, Education, Transit
Tagged AL, Alabama, Birmingham, bus service, City Council, event, Free, Larry Langford, passes, proposal, Wachovia
Learning to save the fun way tomorrow in Linn Park
Mayor Langford will be among the many in attendance at Linn Park tomorrow morning beginning at 11 a.m. as part of Wachovia’s Way2Save Challenge. Birmingham is the current stop on an 11-city tour that aims to educate consumers about the importance of saving. Some of our city’s youngest residents, pre-K students from John Herbert Phillips Academy, will learn to save their pennies in a piggy bank activity, while some of our other residents will be trying to make sure that more students have a chance to further their education, in a fun way…
Posted in 35203, Education, money
Tagged AL, Alabama, Birmingham, financial education, Larry Langford, Linn Park, scholarship grab, Wachovia, Way2Save
