Quote:
Originally posted by Larry_OHF:
I am good friends with a guy at one of the two banks that I think you are referring to. Can I share with him what you said, and see if he has anything to add to that? He is a gossip lover, and will probably have alot to say concerning other issues you may / may not have covered.
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You most certainly can
If he is from around your area, he is probably with the 'acquiring' bank, and has a better knowledge of the CEO's ingenious actions.
My group went to lunch yesterday and after a long discussion, came to the conclusion that the CEO must be mentally unstable. He would have to be to go to a meeting (with around 1000 employees) and actually claim that we can save costs by not buying post-it notes and pens. Furthermore, his idea for building revenues is this: We have 50,000 (roughly) employees. If each employee can get 5 people/day to switch to our bank and buy one of our products then that is 250,000 people/day. At an average of 300 days/year (these are his numbers) then that is 75,000,000 new customer sales per year and at an average profit of $10/sale that is rougly $750,000,000/year in profit! He does not realize however, that our bank only operates in 21 states and that these 21 states only have around 30% of the US population. At roughly 261 million people (total US population) then 30% is roughly 78,300,000 people. So we would have to get all but 3,300,000 people in our banking area to commit to our bank
now that is a good goal to shoot for, but I don't think the FED would go for a 96% marketshare (I believe this is called a monopoly
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