So True… by Scott Robbin There was this little company I worked for in my career: WaMu. Washington Mutual is back in the news because, after becoming the largest bank failure in history, it is being investigated by Congress and the Justice Department for fraud in its mortgage lending operations. Not only was management not… Continue Reading
Tag Archives: Washington Mutual
Dead company walking
Last week, Kate and I had the enjoyable time of having lunch with some of our old co-workers. Longer time readers of this site will know that Kate and I were laid off from Washington Mutual about a year and a half ago and, subsequently, late in 2008, Washington Mutual was taken over by JPMorgan… Continue Reading
The Takeover Pattern
When your company is taken over by another, there is a pattern that is followed by the incoming management team. This pattern will take some time to develop, but the patter is almost always the same. Knowing the pattern can help you navigate your own position and career if your company is taken over by… Continue Reading
Takeover Case Study: Chase and WaMu, Part II
One of the most difficult activities for a Cubicle Warrior to do is understand the dynamics within a company, especially where the company is being bought by another. When a company is purchased, everything that employees believe about the company is now up for examination. This creates uncertainty, even fear, about their job, job security,… Continue Reading
Takeover Case Study: Chase and WaMu, Part I
One of the most difficult activities for a Cubicle Warrior to do is understand the dynamics within a company, especially where the company is being bought by another. When a company is purchased, everything that employees believe about the company is now up for examination. This creates uncertainty, even fear, about their job, job security,… Continue Reading
Career Management Monday, September 29, 2008
This morning I was going to predict that after the Washington Mutual implosion that Wachovia would be next since they are in negotiations to be purchased by Citigroup. Since I’m on the Pacific Time Zone, I woke up this morning to see that Wachovia’s bank operations (not their brokerage and wealth divisions) were already purchased… Continue Reading
Our money will be safe with WaMu
This, from the NY Times, about the people you entrust to keep your money: But the seizure and the deal with JPMorgan came as a shock to Washington Mutual’s board, which was kept completely in the dark: the company’s new chief executive, Alan H. Fishman, was in midair, flying from New York to Seattle at… Continue Reading
WaMu’s Management Lessons for Cubicle Warriors
One of the first questions people ask me about my site is why I call people who work in cubes “Cubicle Warriors.” The cubicle part they get. The warrior part they don’t. A warrior, by definition, is “a person who shows or has shown great vigor and courage.” A great career in the cubes requires… Continue Reading
JPMorgan Chase Buys Washington Mutual
The call from the local ABC station came before dinner local time last night. Could I do an interview on JPMorgan’s purchase of Washington Mutual? Sure, but looking at the news reports on the web, there was only the mere paragraph that they purchased the branches and deposits. Nothing about home loans, credit cards, or… Continue Reading
The Review, 2008
2008 was a tulmultuous year for most everyone. Layoffs, recession, changes in income, how work is done and how we approached opportunities changed in 2008. We were forced to struggle more and finally decided that change was needed. Here’s what I’m thankful for in 2008: A new President here in the United States. If 30%… Continue Reading