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Wachovia Corporation (WB)

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Robert Steel , President/CEO

www.wachovia.com

Industry: Finance

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Financials

Overview

A bank holding company which provides a range of commercial and retail banking and trust services through its subsidiaries.

Portfolio Articles

The July Curse
If J.P. Morgan and Goldman Sachs are having a tough quarter, how ugly will it be for the bottom of the heap?
Aug 12 2008
On to the Next Sure Thing
Today's auction rate settlement just means that brokers are prepping a new model of microwave ovens for unwitting investors.

Aug 07 2008
Whoa, Wachovia!
Deep loss shows challenge for new C.E.O.
Jul 22 2008
Nothing to Smile About
Oil spikes and stocks plunge. Is the economy really out of the woods?
Jun 26 2008
A Deal Too Far
Another bank C.E.O. is defenestrated by housing slump.
Jun 02 2008

See more news on this company

News Feeds

Final Glance: Commercial Banks companies AP
Sep 05 2008
Midday Glance: Commercial Banks companies AP
Sep 05 2008
Sector Snap: National bank stocks fall AP
Sep 05 2008
Early Glance: Commercial Banks companies AP
Sep 05 2008
Wachovia Securities hires Bear Stearns exec Atlanta
Sep 05 2008
Last Call: Wachovia shares plunge AP
Sep 04 2008
Wachovia Securities names new investment chief AP
Sep 03 2008
Wachovia Securities names new chief investment strategist Atlanta
Sep 03 2008
Wachovia shares jump along with financial stocks AP
Sep 02 2008
Analyst: Wachovia focused on preserving capital AP
Aug 29 2008

Portfolio Blogs

Meettheboss.com: A Better Social Network For Business
Aug 12 2008
Extra Credit, Thursday Edition
Jul 31 2008
Towards the Command-and-Control Economy
Jul 31 2008

Extra Credit, Monday Edition
Jun 02 2008
Parsing Wachovia: Oh My God, They Killed Kenny
Jun 02 2008

Press Releases

Evergreen Investments Announces Portfolio Management Changes Sep-05-2008, 04:53PM EDT
Wachovia Will Release 3rd Quarter 2008 Results Oct. 22 Sep-05-2008, 09:00AM EDT
Craig Overlander to Join Wachovia Securities as Global Head of Fixed Income Sep-04-2008, 04:00PM EDT
Wachovia Preferred Funding Corp. Declares Dividend on Series A Preferred Securities Sep-04-2008, 12:00PM EDT
Evergreen Investments Announces Changes to Product Line Sep-04-2008, 09:10AM EDT

News From Around the Web

News

Financial company opens another center in CdM (Daily Pilot, California)

Sep 06 2008
Investors venture into distressed property financing (BizJournals)

Sep 06 2008
Outside Brokers Make Calls for Bank (iStockAnalyst)

Sep 06 2008
Judge: EnCap bankruptcy case not in 'bad faith' (The Record)

Sep 06 2008
Wachovia Securities hires Bear Stearns exec (BizJournals)

Sep 06 2008
Wachovia donation will fund river greenspace improvements (BizJournals)

Sep 06 2008
Carilion fumbles workers' payroll (Roanoke Times)

Sep 06 2008

Blogs

Wachovia Downgraded (DealBreaker.com)

Sep 05 2008
Fannie Mae Investor Sues Underwriters (DealBook)

Sep 05 2008
First Friday Fireworks/First Saturday on the River - Cancelled (The Creative Coast Initiative)

Sep 04 2008
National City Pays Customers To Cancel Credit Lines (Mish's Global Economic Trend Analysis)

Sep 04 2008
Al Goldman on bull market: Almost there! (MarketWatch Morning Stock Talk)

Sep 03 2008

Employees

Number of Employees: 121,890

Revenue per Employee: $513,018

Top Executives

Stephen E. Cummings, Senior Executive VP

Thomas J. Wurtz, CFO/Senior Executive VP

Lanty L. Smith, Director/Chairman of the Board

Mark C. Treanor, Senior Executive VP/Secretary/General Counsel

Peter M. Carlson, Controller/Chief Accounting Officer/Senior VP

Benjamin P. Jenkins, III, Vice Chairman

Donald K. Truslow, Senior Executive VP

David M. Carroll, Senior Executive VP

Shannon W. McFayden, Senior Executive VP

Ranjana B. Clark, Senior Executive VP

Stanhope A. Kelly, Senior Executive VP

Gerald A. Enos, Jr., Senior Executive VP

Board of Directors

Joseph Neubauer, Director

Mark C. Treanor, Senior Executive VP/Secretary/General Counsel

Robert A. Ingram, Director

Benjamin P. Jenkins, III, Vice Chairman

Mackey J. McDonald, Director

Ernest S. Rady, Director

Jerome A. Gitt, Director

G. Kennedy Thompson, CEO/Chairman of the Board/President/Director

Ruth G. Shaw, Director

Van L. Richey, Director

Lanty L. Smith, Director/Chairman of the Board

Donald M. James, Director

Timothy D. Proctor, Director

Peter C. Browning, Director

William H. Goodwin, Jr., Director

Maryellen C. Herringer, Director

John D. Baker, II, Director

John T. Casteen, III, Director

Dona Davis Young, Director

Financials

Quarterly

Annual

Income Statement	08/2008	04/2008	01/2008	10/2007
Sales	NA	NA	NA	NA
Gross Operating Profit	-6.29 Bil.	13.27 Bil.	13.44 Bil.	8.73 Bil.
Operating Income before D & A (EBITDA)	-6.29 Bil.	13.27 Bil.	13.44 Bil.	8.73 Bil.
Total Income Before Interest Expenses (EBIT)	-6.54 Bil.	13.27 Bil.	13.44 Bil.	8.7 Bil.
Total Net Income	-8.92 Bil.	-307 Mil.	51 Mil.	1.62 Bil.
Basic EPS, Total	-4.31	-0.2	0.03	0.86
Diluted EPS, Total	-4.31	-0.2	0.03	0.85

BALANCE STATEMENT	08/2008	04/2008	01/2008	10/2007
Cash and Equivalents	NA	NA	NA	NA
Total Assets	NA	NA	NA	NA
Total Liabilities	NA	NA	NA	NA
Total Capitalization	NA	74.81 Bil.	76.87 Bil.	NA

Cash Flow	08/2008	04/2008	01/2008	10/2007
Net Cash From Continuing Operations	NA	NA	NA	NA
Net Cash From Investing Activities	-25.52 Bil.	NA	NA	-36.13 Bil.
Net Cash From Financing Activities	36.18 Bil.	NA	NA	43.84 Bil.
Net Change in Cash & Cash Equivalents	13.71 Bil.	NA	NA	-5.79 Bil.

Income Statement	2008	2007	2006	2005
Sales	NA	NA	NA	NA
Gross Operating Profit	55.53 Bil.	29.08 Bil.	20.1 Bil.	13.59 Bil.
Operating Income before D & A (EBITDA)	55.53 Bil.	29.08 Bil.	20.1 Bil.	13.59 Bil.
Total Income Before Interest Expenses (EBIT)	55.53 Bil.	28.9 Bil.	19.81 Bil.	13.14 Bil.
Total Net Income	6.31 Bil.	7.79 Bil.	6.64 Bil.	5.21 Bil.
Basic EPS, Total	3.31	4.72	4.27	3.87
Diluted EPS, Total	3.26	4.63	4.19	3.81

BALANCE STATEMENT	2008	2007	2006	2005
Cash and Equivalents	NA	NA	NA	NA
Total Assets	NA	NA	NA	NA
Total Liabilities	NA	NA	NA	NA
Total Capitalization	76.87 Bil.	NA	NA	NA

Cash Flow	2008	2007	2006	2005
Net Cash From Continuing Operations	NA	NA	NA	NA
Net Cash From Investing Activities	NA	-21.91 Bil.	-31.24 Bil.	-16.23 Bil.
Net Cash From Financing Activities	NA	17.26 Bil.	24.57 Bil.	24.16 Bil.
Net Change in Cash & Cash Equivalents	NA	-2.71 Bil.	-966 Mil.	79 Mil.

Wachovia Corporation (WB)

Company Information

Overview

Employees

Top Executives

Board of Directors

Financials

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