Tag: wells fargo

United Airlines and the cost of being hated

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I’ve analyzed lots of corporate screwups in this space. Most of those companies will recover just fine. But a few now have a permanent reputation for being a bad and hated company, with real costs that will continue for decades. Let’s look at some of the corporate stupidity on display in the last year or so and … Continued

Wells Fargo’s vision and values led to its downfall

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Visions statements inspire. Wells Fargo’s inspired fraud. A close read of the company’s Vision & Values Statement reveals how the bank’s employees took some of the statements in this vision too far, ignored others, and created a corrupt scheme to meet quotas and violate customers’ trust. Elizabeth Warren mentioned the Vision & Values Statement during her withering … Continued

Wells Fargo’s promise of “openness” is the height of hypocrisy

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Wells Fargo employees opened 2 million fake bank and credit card accounts to pad their paychecks with bonuses, according to regulators. The bank will pay a $185 million settlement and has fired 5,300 people. “When we make mistakes, we are open about it,” the CEO said. Are they? Actually, it’s the opposite. By any measure, this is … Continued