When you work at a Bank, at any level, back office or bank floor you kind of get used to hearing about buy-outs and corporate take-overs. It comes with the territory. However, when you're a bank as old as the one I am in (150 year old institution), getting sold is never a big thing. We buy companies, not the other way around. However, yesterday was a little different. Rumors have been running rampant all day that apparently a bid was put up from Washington Mutual. I took this very lightly, because a few months ago I heard the same rumor that Wachovia put in a bid for us as well. Brushed it off my shoulders. A co-worker approached me later that afternoon about the latest rumor. She asked me on how I felt about what was going around. And since I had no idea what she was talking about she filled me in. It seems that the rumor about WAMU's take-over seemed more like a reality than a rumor started by a few disgruntled workers dreaming of a decent severance package. Apparently, there have been WAMU rumors for a few months now back to back, instead of the every 6 month a new rumor. She filled me in on the talks that's been happening in the hallways, the cubicels, the bathrooms, the elevators, that a WAMU take-over is immenent. And it's also been said that packages are even being developed for employees. This was big news to me folks. I had always wondered about how long we would last after we bought a smaller bank about a year or so ago. Back then, our head legal council told me personally he'd give us 2 years max before we got purchased by a bigger bank. So it looks like what he's speculated nearly a year ago could be true. I started to think about what has been going on lately. This is all entirely speculation though. 1). We've closed a few branches that we got through last years acquistion of a Staten Island bank. We even closed some NJ branches too. 2). There was a very aggressive branch opening schedule set last year for 10 new branches by '06. So far 3 have been opened. 2 more are a definite next month. Then there's nothing else for the rest of the year. 3). There has been a lot of whispered conversations between the department heads. And many closed door conversations have happened. 4). Every few months I type up the agendas for my bosses meeting with CEO. Usually there's infomation on there for what's coming up in the coming months and what's planned for next year. She only covered until the end of '05.5). There have been serious budget cuts for that last 6-months. From coroporate car service right down to the mailing system.So given some of the latest events, one would think that we are headed for unknown territory.
How this effects me? I don't know. Regardless of the fact that I hate this place. It could be a blessing. I have been at this company for 4 years, the stock price alone would build me a nice nest egg when my stock is brought back. If there's a stock split, I could only imagine the money that would come from that as well. If there was a take-over, I am not sure if my position would still be available. If it's not, I'll chill for a few weeks. Take a much needed vacation, then start looking for other work. Maybe get in touch with my drawing more. Do things that I have been meaning to do. If this does happen and I get laid-off, then maybe this will finally get my ass in gear to get an even better job than this one, which I've been trying to leave for sometime now. Who knows. I'll keep you guys posted on what's going.