Wachovia Layoff

Since this is an appraiser hot-line now. I used to have a 75% equity position in my Wachovia/World home. I'm now at 100% and with Realtor fees I will have to come out of pocket to sell my house. Lets hope I find a job soon (very slim pickings as it's not only a buyers market for homes but a hiring market now for jobs). With all these industry and non industry professions laid-off there's very little to pick from and I want to get out of here to go back to school and change directions. I'm trying to keep my chin up but it's getting harder every day.
I hope you all are okay and are kept whole. I don't wish this on my worst enemy! It's getting very scary out here.

Nameless from no-where said: Since this is an appraiser hot-line now. I used to have a 75% equity position in my Wachovia/World home. I'm now at 100% and with Realtor fees I will have to come out of pocket to sell my house.
you have a couple of choices. 1. see if you ualify for the fha bailout program. you have to be in foreclosure due to interest hike on an adjustable loan and i don't know the other requirements. 2. list the house for sale by owner on the internet. or 3. see if you can get the lender to do a short sale agreement. check with a tax person as to the benefits and risk for the last option.

My heart goes out to all of you especially you who own homes and face default. It's awful how corporations play games and cause financial ruin and don't bat an eye. It's not just the financial sector it's corporate america period! I know some of you are afraid of the unknown, change, and starting over. You cannot wait and let them have the final word do what you must to control your career. It's going to be a struggle in the economy and good paying jobs will get scarce. Do what you must do work two jobs or a job out of your industry it may pay less but some money is better than none. You may have to start over and that's unfair but if you stop trying you let them win and you go down. Sometimes life is not fair and yes it seems the rich power brokers control the playing field. But at the end of the day you must take care of your famalies any way you can. Rememeber no one can take away your dignity or purpose in life unless you let them...

N/A in Conyers, Georgia said: Yes I was hired for a F/S and with in 3 mths they had us to take and pass the series 6 and 63 exam if you did not pass after 2 times taking it they fired you. I was not informed this at my interview.

I had put in my two week notice at my current job after I got the call that I got the job, after that I got my offer letter and it said if you do not pass the exam you may be let go. I called HR and they said don't worry about it, well I did not pass and was left with out a job.

If I had known before I quit my job I would have never left. Out of my group it was 4 that they let go out of 8 so that test is no joke and it was self study and a 3 or 4 day crash course. Good luck to all that apply.

Wachovia said they are the Walmart to Financial Needs.

Do you know a recruiter I can contact? I sent my resume but have not received a response. The Mortgage Consultant Recruiter forward my information. If you can provide the info, please let me know and I will give you my email address.

I worked in the Trust Department at Wachovia. They don't call it walk-all-over-ya for nothing. The training is very bad, so is the managment. The pay is well below what other banks pay and they promise a bonus, but don't believe it. I found alot of people there are not professional, sad to say almost weekly some one walked off the job.

ATL-Linda in Duluth, Georgia said: Do you know a recruiter I can contact? I sent my resume but have not received a response. The Mortgage Consultant Recruiter forward my information. If you can provide the info, please let me know and I will give you my email address.

Hi Linda,

What is your field?

Yes - some at A.G.Edwards (AGE) are aware of the forum and following along. We are seeing some departments in St. Louis getting their 60 day notices.... the rest are waiting to know what role we will play in the conversion, and if any role after that.
There is talk of many jobs being off-shored to India.

BC Resources in Atlanta, Georgia said: I worked in the Trust Department at Wachovia. They don't call it walk-all-over-ya for nothing. The training is very bad, so is the managment. The pay is well below what other banks pay and they promise a bonus, but don't believe it. I found alot of people there are not professional, sad to say almost weekly some one walked off the job.

So whom did this company have to bribe to get such a high customer service ranking?

chipper954 in Phoenix, Arizona said: So whom did this company have to bribe to get such a high customer service ranking?

I think I just answered my own question; I took a look at the Countrywide Financial forums and, believe it or not, compared to CW, Wachovia sounds like a [slightly more pleasant but not by much] picnic.

AGE_STL in saint louis, Missouri said: Yes - some at A.G.Edwards (AGE) are aware of the forum and following along. We are seeing some departments in St. Louis getting their 60 day notices.... the rest are waiting to know what role we will play in the conversion, and if any role after that.
There is talk of many jobs being off-shored to India.

Some at Wachovia are waiting also. and yes there is talk about offshoring.

MLL in Texas said: Some at Wachovia are waiting also. and yes there is talk about offshoring.

"MLL in TX" as in Mid level leader?

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Why don't you all stop whining and take this opportunity to find employment while collecting a paycheck? The market has tanked...PERIOD!!!!! The bank is not the devil....it’s a FOR PROFIT BUSINESS....your position are no longer profitable due to MARKET CONDITIONS. Why don't you all just accept this fact and stop feeling sorry for yourselves...go find a job and stop complaining about the obvious!

nunya-business

so what do you do for a living or are you a trust fund baby.

No,

I'm a fomer lender that saw the writing on the wall months ago and took his own advice.....

nunya-business in boise, Idaho said: No,

I'm a fomer lender that saw the writing on the wall months ago and took his own advice.....

so what other type of work did you get since you are in the numbers business.

nunya-business in boise, Idaho said: Why don't you all stop whining and take this opportunity to find employment while collecting a paycheck? The market has tanked...PERIOD!!!!! The bank is not the devil....it’s a FOR PROFIT BUSINESS....your position are no longer profitable due to MARKET CONDITIONS. Why don't you all just accept this fact and stop feeling sorry for yourselves...go find a job and stop complaining about the obvious!

If you do not like what you are seeing here, why are you here? Everyone here knows what is going on and what to do and part of that is a need to vent. So what!

Venting is fine....the problem is that most of you are having trouble facing reality and trying to place blame rather than trying to find a solution. It's futile!

As for Snoopy, I am doing what I enjoy, which doesn't pay very well. I've been lending for years, and like previous down cycles, I have learned to ride it out and jump back in when the market comes back (which it has, and will) and when the money is good, which it always is.

I agree, placing blame does not help the situation. I too, was around in 1994 and stepped out to do something else, like you it was something I loved but did not pay the bills so I appraised on the side. I returned full time to appraising in 1996 because I also love appraising real estate and nothing has ever paid me better.
People here may not be jumping out just yet because even though it is slow and the paychecks are less, they are still better then the paycheck in that new "endeavor"

Keeping one's eyes open for an opportunity is what I believe most are doing and coming here with their frustrations.

It's an open forum to discuss what we wish (within reason, no name calling etc)so Let It Be.

nunya-business in boise, Idaho said: Venting is fine....the problem is that most of you are having trouble facing reality and trying to place blame rather than trying to find a solution. It's futile!

As for Snoopy, I am doing what I enjoy, which doesn't pay very well. I've been lending for years, and like previous down cycles, I have learned to ride it out and jump back in when the market comes back (which it has, and will) and when the money is good, which it always is.

Its Nunya-Business so go do what you love to do and come back when we're gone! I have a feeling that you are one that doesn't give a damn about your client when the market is hot...I am willing to bet that you have put your fair share of people in some pretty sh!tty loans. Just a hunch.
So what do you love to do? Misery loves company so you must be here because you're pretty unhappy. Another hunch!
Why don't you go back to the Countrywide blog where you belong!

I just heard a "rumor" that the San Leandro ROC got thier walking papers this week - does anyone know if there is any truth to this rumor?

Billy Bob in Oakland, California said: Its Nunya-Business so go do what you love to do and come back when we're gone! I have a feeling that you are one that doesn't give a damn about your client when the market is hot...I am willing to bet that you have put your fair share of people in some pretty sh!tty loans. Just a hunch.
So what do you love to do? Misery loves company so you must be here because you're pretty unhappy. Another hunch!
Why don't you go back to the Countrywide blog where you belong!

You make me laugh...

I sold your Pick a Pay product almost exclusively......based on the current economic environment, you'll be gone very soon.

nunya-business in boise, Idaho said: I sold your Pick a Pay product almost exclusively......based on the current economic environment, you'll be gone very soon.

Were you a broker? Look I'm sorry if we seem like we are wining. But it sounds like you weren't laid off. Many people are hanging in there because they are still receiving a paycheck unlike many displaced employees. I don't blame them at all. In the mean time is agony to be in a wait and see status, it's scary. But just walking away is not always an option or solution for everyone. You are lucky if you could afford to do that! I was displaced and there is not a lot of quality openings out in the field either. I have a family to support with people depending on me. I'm out there busting my behind trying to find something of quality that I love to do also but will also pay my bills. We need a place to vent because we are confused, hurting and don't have our future career options figured out yet? Please don't be so quick to judge.

No One from No-Where said: Were you a broker? Look I'm sorry if we seem like we are wining. But it sounds like you weren't laid off. Many people are hanging in there because they are still receiving a paycheck unlike many displaced employees. I don't blame them at all. In the mean time is agony to be in a wait and see status, it's scary. But just walking away is not always an option or solution for everyone. You are lucky if you could afford to do that! I was displaced and there is not a lot of quality openings out in the field either. I have a family to support with people depending on me. I'm out there busting my behind trying to find something of quality that I love to do also but will also pay my bills. We need a place to vent because we are confused, hurting and don't have our future career options figured out yet? Please don't be so quick to judge.

Sorry for the typo in the first sentence.

No One from No-Where said: Sorry for the typo in the first sentence.

I wish we were winning, not whining as you put it. I say to everyone again, good luck to you all and keep your chins up. I know eventually we all won't need this site and we'll have our answers for employment. But if this provides healing for those on this then it's a good thing. That is my opinion.

ok kids, here is a news flash for ya all. maybe you already heard it. this involves appraisers on this site that have been hammered by management to get the value right (so they can makee the loan). the news reports the new youkattorney genteral is suing first american tiele eappraiseit, who inflated the wamu appraisals to keep the business from wamu coming in. calculate $50 mil oner 260,000 jobs. roughly $194.30 per job assuming all were equal, (pronbable not) based on a 65/35 split assuming. the appraiser got 65 and eappraiseit got 35. i'll bet the appraiser did not inspect the property and do all the research. probable ran an avm. this is the reason for the market problems times how many lenders doing avms. this is one for the appraisers who have been bitc----about the avm. this may be the beginning of driving out that electronic beast and hope for the future of appraisers.

snoopy, I heard about that today! Makes you think doesn't it.

I just looked at the Countrywide site. Wow, a lot of emotions there. After reading their comments I must say that the legacy World, Wachovia and AGE employees are 100% quality and very professional. We are just a group of people worried about our future careers (displaced or not) and underneath it all many of us wish we were in a better market feeling a greater sense of security with our new business partner.

No One from No-Where said: snoopy, I heard about that today! Makes you think doesn't it.

I just looked at the Countrywide site. Wow, a lot of emotions there. After reading their comments I must say that the legacy World, Wachovia and AGE employees are 100% quality and very professional. We are just a group of people worried about our future careers (displaced or not) and underneath it all many of us wish we were in a better market feeling a greater sense of security with our new business partner.

if the pattern holds as we have seen regarding the losses and ceo's that follow, it is likely the wachovias ceo is in danger of being escorted to the parking lot. prince is out of citi as far as i can tell and i think price at boa could go to. maybe new ceo;s can make a difference (better) for the remaining employees. anyway, as talented as you all are, there are many openings for ceo's. its likely you could do a better job than the ones that destroyed them (banks).

snoopy in nowhere, Mississippi said: ok kids, here is a news flash for ya all.

online.wsj.com/article/SB119393091496279165.html?mod=googlenews_wsj

Snoopy, Xtra, Xtra ...read all about it! hallelujahs.

gertrude mobius in Houston, Texas said: online.wsj.com/article/SB119393091496279165.html?mod=googlenews_wsj

Snoopy, Xtra, Xtra ...read all about it! hallelujahs.

New York Attorney General Andrew M. Cuomo is suing a home-appraisal unit of First American Corp., alleging it defrauded consumers by allowing its biggest customer, Washington Mutual Inc., to exert pressure for higher property valuations to help ensure that loans went through.

The case marks one of the highest-profile government actions yet to assign blame for the mortgage crisis that is causing havoc in the financial markets.

The 31-page complaint, filed in state court in Manhattan, alleges that eAppraiseIT LLC, a unit of Santa Ana, Calif.-based First American, allowed Washington Mutual loan originators to "handpick" appraisers who brought in high valuations and permitted bank employees to pressure them to increase estimates that came in too low. In one example, New York state said eAppraiseIT lifted its estimate of a property to $2.3 million from $1.6 million after the company was told by Washington Mutual the higher number would help the loan go through.

continued..

gertrude mobius in Houston, Texas said: New York
continued..

First American, in a statement, said the complaint "has no foundation in fact or law. ...[The] allegations, largely based on a handful of e-mails that have been taken out of context, or mischaracterized, and an incomplete review of the facts, belie our record of compliance with applicable law."

According to the suit, Anthony R. Merlo Jr., eAppraiseIT's president, sent emails to his superiors at the parent company in which he first said his unit would "roll over" and submit to Washington Mutual's demands on appraisals. Later, in an email, he wrote that he viewed the bank's conduct as a violation of federal regulations.

The suit seeks an injunction to stop the alleged illegal activities and asks First American, a title insurer and provider of housing and mortgage data, for unspecified damages, restitution and disgorgement of gains obtained through the allegedly fraudulent acts. It says eAppraiseIT handled more than 260,000 appraisals in New York for Washington Mutual and received more than $50 million.

Although appraisers have long been the subject of criticism, it has been difficult to target them for legal action because appraisals are subjective opinions. Prosecutors in the New York case are relying on laws that mandate appraiser independence from outside influence by lenders and others.

Washington Mutual isn't named as a defendant, but the suit shines a spotlight on the lender. State prosecutors say federal pre-emption rules complicate their ability to charge the bank directly. According to Washington Mutual's third-quarter earnings release, the Seattle bank generated home loans totaling $83.57 billion in the first three quarters of this year.

gertrude mobius in Houston, Texas said:

continued....

In a statement, Washington Mutual said it is "surprised and disappointed" by allegations in the complaint and that it is suspending its relationship with eAppraiseIT until it can "investigate the situation."

"We have absolutely no incentive to have appraisers inflate home values," Washington Mutual said. "In fact, inflated appraisals are contrary to our interests. We use third-party appraisal companies to make sure that appraisals are objective and accurate."

Lenders require appraisals, usually by trained appraisers but sometimes by computer programs that analyze past sales, before making home loans. The appraisal is supposed to ensure that the lender has an authoritative estimate of the property's value. An inflated appraisal can cause lenders to advance more money than the house is valued at, exposing the borrower, the lender and investors who buy mortgage-backed securities to losses. The risks can be high if the home buyer is borrowing as much as 100% of the purchase price, a practice that was becoming more common until the mortgage-market turmoil.

Earlier this year, Ohio Attorney General Marc Dann sued 10 mortgage lenders on behalf of individual borrowers, alleging they violated state consumer-protection laws by pressuring appraisers to inflate the homes' values. The state has gotten a default judgment against one lender and is in settlement talks with two others.

gertrude mobius in Houston, Texas said:

continued.......the end. Maybe, the beginning. :)

Kevin L. Petrasic, managing director of external affairs for the Office of Thrift Supervision, the Treasury Department agency that oversees Washington Mutual, says the agency is "looking into the allegations that were put forth in the [New York] complaint." He added that it "concerns us" that the attorney general "had information that consumers were not protected...but didn't bother to contact the federal regulators. Isn't that the whole point of regulation?"

The lawsuit in New York bolsters arguments by critics of the appraisal business who have warned for years about the growing pressure on appraisers to inflate home values. The appraisal system has an inherent conflict of interest: Appraisers are often hired by mortgage brokers or lender employees whose incomes are based at least partly on the number of loans they get approved.

Appraisers' complaints about pressure to inflate property values have risen, studies suggest. In a survey of 1,200 real-estate appraisers released this year, 90% reported being pressured by real-estate agents, lenders, mortgage brokers and consumers to adjust property values in order to allow deals to go through, up from 55% in 2003, according to October Research Corp., of Richfield, Ohio.

The action by Mr. Cuomo, who began issuing subpoenas to appraisal companies earlier this year, may embolden Washington to pass legislation on the issue. Rep. Paul E. Kanjorski (D., Pa.) last month introduced a bill to improve federal oversight of appraisals and establishes tougher penalties for compromising appraiser independence.

Rep. Paul E. Kanjorski (D., Pa.) last month introduced a bill to improve federal oversight of appraisals and establishes tougher penalties for compromising appraiser independence.

thats what i'm talking about. let these banks take the blame squarly on the chin where it belongs. the last time they blamed appraisers in the late 1980. lincoln savings ceo keeting got 18 month and i think he only served 15 but im not sure. that crash was due to payment of the loans in chickens or something to that effect. as of todays date, not one cent of that bailout has been paid although all taxpayers got charged for it. think of the amount of interest they are collecting.

This reminds me of S&L crash in the 1980's and out of that we got USPAP and licensing. If this gets going the license may be even tougher to get in the future but what USPAP and licensing did for the industry was profesionalize what we are doing and it would not bother me at all if it got tougher!
We have all seen those broker loans appraisal reports that make us gasp!

snoopy in nowhere, Mississippi said: Rep. Paul E. Kanjorski (D., Pa.) last month introduced a bill to improve federal oversight of appraisals and establishes tougher penalties for compromising appraiser independence.

thats what i'm talking about. let these banks take the blame squarly on the chin where it belongs. the last time they blamed appraisers in the late 1980. lincoln savings ceo keeting got 18 month and i think he only served 15 but im not sure. that crash was due to payment of the loans in chickens or something to that effect. as of todays date, not one cent of that bailout has been paid although all taxpayers got charged for it. think of the amount of interest they are collecting.

Yes, the appraisers took the fall and the rules got tough but I think it was the best thing to happen to the appraisal industry. While the broker pressure is coming to the forefront (only took 25 years or more)I still think they will make it harder to break into the appraisal industry which is good for us!

SOCA Appraiser in California said: This reminds me of S&L crash in the 1980's and out of that we got USPAP and licensing. If this gets going the license may be even tougher to get in the future but what USPAP and licensing did for the industry was profesionalize what we are doing and it would not bother me at all if it got tougher!
We have all seen those broker loans appraisal reports that make us gasp!

right on socal but let me just say this. if you read uspap and take your continuing ed, you will find out that uspap is not written to help with the appraisal business, it is designed to keep appraisers from doing their job. check it out.as to getting harder to get licensed, well maybe you have not heard that as of 2008, a college degree will be required for new applicants. the reason for this is: in order to be a profession, you must have a college education. under the new rules, appraisers with a college degree will be perferred so that the appraisers can be merged with accountants and counted as professionals under the same umbrella. also check with your state as to the new rules due for 2008 and see if the legislators passed the ruling. if they did not, then your ability to ftr's will be effected. so happens my state did not pass it as far as i can tell. the minutes of their last meeting did not show the resolution which means that come jan 1 2008 appraisers in my state will not be able to do frt's. also by 2010 the fed will likely be in charge of appraisers as was the intention at the onset of the licenseing back in the late 80's.

snoopy in nowhere, Mississippi said: right on socal but let me just say this. if you read uspap and take your continuing ed, you will find out that uspap is not written to help with the appraisal business, it is designed to keep appraisers from doing their job. check it out.as to getting harder to get licensed, well maybe you have not heard that as of 2008, a college degree will be required for new applicants. the reason for this is: in order to be a profession, you must have a college education. under the new rules, appraisers with a college degree will be perferred so that the appraisers can be merged with accountants and counted as professionals under the same umbrella. also check with your state as to the new rules due for 2008 and see if the legislators passed the ruling. if they did not, then your ability to ftr's will be effected. so happens my state did not pass it as far as i can tell. the minutes of their last meeting did not show the resolution which means that come jan 1 2008 appraisers in my state will not be able to do frt's. also by 2010 the fed will likely be in charge of appraisers as was the intention at the onset of the licenseing back in the late 80's.

I am very aware of the new requirements for licensing and I do not have issue with them. Of course I became certified when I first became an appraiser. When I came to WSL was astounded at the number of AL's to AR's. I thought it was unfortunate that WSL did not support the certification and have found the slurry of the past year to be almost comedic watching everyone doing their best to upgrade. My hope is that all who needs the upgrade got everything in order and if they did not, it is their own fault at least in CA because this need to upgrade has been communicated for over 2 years by the OREA (office of real estate appraisers). I disagree with you about USPAP but I will not debate you as it's just a different viewpoint.
I think we can agree to disagree :-)

about USPAP but I will not debate you as it's just a different viewpoint.
why don't you call eda street if she is still with the company and ask her about this. she is the one who pointed out this fact to me years ago. recently in class, it was reinforced. im not arguing, just concerned.

I understand Snoopy! Big Brother is all around us. Unfortunatly, Eda is not with the company anymore. She left about a year ago, mabye a little longer.

SOCA Appraiser in California said: I understand Snoopy! Big Brother is all around us. Unfortunatly, Eda is not with the company anymore. She left about a year ago, mabye a little longer.

i spoke to here after she had the stroke. i could not believe she came back to work. i hope she was able to retire rather than more sickness. i didn't know.

chipper954 in Phoenix, Arizona said: I think I just answered my own question; I took a look at the Countrywide Financial forums and, believe it or not, compared to CW, Wachovia sounds like a [slightly more pleasant but not by much] picnic.

I read them, we look very calm compared to their comments. I was surprised.

somewhere in the chaos in Arizona said: What exactly do you know? I wish I had a least a time frame. Like tomorrow? Next week? When?

I completely agree. When? People are quitting like there is no tomorrow in my department and I'm wondering if it's worth joining them or just sticking it out because it's going to end soon anyways. I'm just really frustrated with the worries, the management being completely hush hush and the whole morals going down the toilet.

worried in san antonio, Texas said: I completely agree. When? People are quitting like there is no tomorrow in my department and I'm wondering if it's worth joining them or just sticking it out because it's going to end soon anyways. I'm just really frustrated with the worries, the management being completely hush hush and the whole morals going down the toilet.

Go with your gut. If sticking it out causes you that much stress and anxiety, then leave. No amount of money is worth sacrificing your health. Go find a job that pays you something, maybe not quite in the field of your choice right now, but at least gives you income and then decide what you want to do and go after it. I know of people who have ended up in the hospital over this stuff and it is so unfortunate. You're right when you say it isn't over, but think of you, if you have a family, them and what it is all worth if you have a heart attack thinking about this. Now, if when you think it through, you want to stick it out and get your package, then understand that that is your decision and you need to deal with it and all that may come with that. At the end of the day, it really does come down to your decision about you. After all, Wachovia has already made theirs about everyone.

Exactly, its time to think about your family and yourself first now! When I got laid off or actually I knew it was coming sooner or later, (I got laid off from New Century) I was so depressed I didn't have the drive/the passion to do anything. This went on for a week or so...but u have to think that your children,spouse, family needs u! So then its ok to feel down, but its your choice to get up and get proactive about it! Don't get yourself into the hospital, get yourself mentally ready for the worst. So get your Plan A and Plan B ready for whatever happens. And then after you have done everything you can .... leave it onto God's (or whomever you worship) hand's to handle whatever else you can't handle. :)

A Stop in Walnut, California said: Exactly, its time to think about your family and yourself first now! When I got laid off or actually I knew it was coming sooner or later, (I got laid off from New Century) I was so depressed I didn't have the drive/the passion to do anything. This went on for a week or so...but u have to think that your children,spouse, family needs u! So then its ok to feel down, but its your choice to get up and get proactive about it! Don't get yourself into the hospital, get yourself mentally ready for the worst. So get your Plan A and Plan B ready for whatever happens. And then after you have done everything you can .... leave it onto God's (or whomever you worship) hand's to handle whatever else you can't handle. :)

Thank you for your words. I have gone through the exact same emotions after being laid off. The hardest part is I have tried so hard to obtain a new job inside Wachovia and outside. I have worked harder at this than when I was working at World. I have tons of experience but no one is hiring at this time, or I'm trying to position myself for long term survival and trying to shift gears into new but related territory. The employers want specific proof of recent results that I cannot extract because I did this job ten years ago (was very successful at it). I applied to atleast 50 companies outside our area of expertise and still no results. I'm obtaining new licensing and now looking to go back to college to obtain a degree in another area in my 50's. It's tough and I have turned to my faith to steer me in a direction that will support my needs, pay me bills, and support my family. I also do not want this change to make me ill or depressed. If you find something immediately then you are blessed. If you still are working make the best of a bad situation. Most important stay healthy in mind and spirit and position yourself for success now while you can afford it.

I really feel for everyone right now. You see, I used to work for WSL and I had a blast while there. I was blessed enough to be able to leave and stay home with my family but I met and have a ton of friends who have been displaced, some who are about to be displaced (and yes, that is about to happen sooner than later, folks) and some who have just quit out of disgust. I hurt when I read these posts because to give and then have your livelihood taken from you is hard and cruel. But, you must remember that in a merger, that is what happens. And, quite honestly, if layoffs were not in the deal between the Sandlers and Wachovia, these packages would have never been negociated in the first place. So, much of this was planned. That is the blunt truth. But, it isn't the end either. Many of you who are fearing financial dispair, start assessing things. If you haven't already heard of him, listen to and/or read Dave Ramsey's books/radio show. He is excellent in teaching people how to become debt free especially when in a crisis. Think about the types of jobs that you would like to have and go after them. Remember, the money comes when you do what you like, not necessarily when you do what is supposed to make you money. Those who believe in a higher being (and I hope at least most do) trust. While that blind faith thing is super hard, it really does work. This is a great time to try it. Worry? No. That will only cloud your thoughts. Family? They know this is not your fault. Let them love you, hug you and you love and hug them back. Nothing is more important than a happy life with loving supportive people. Wachovia? Well, their stock is in the basement right now. Thompson will probably be following Prince's at Citi's lead and leave himself--Wachovia will probably end up ripe for someone to buy them, and guess what? Those instrumental in World's demise will be visiting this site with their horror stories. The future is yours-grasp it and win!!!

Also, one more thing. Dave Ramsey is a big proponent of pizza delivery as a means of making extra money. People who have called into his show and have delivered pizza three-fives time/week can and have made as much as $2K month in tips. Not bad--not glamorous--but right now, how glamorous is being broke??? Hopefully, this may help someone.

Is this the calm before the storm?

It is very quiet here! Too quiet!