You can be CEO of one of either Samsung or Wells Fargo. Which do you pick?
- Thread starter brahmanknight
- Start date
Wells because don't the Asians kill themselves when they're disgraced?
Wells Fargo. Not even close. Rounding error in the grand scheme of things. Stolen from Morningstar:
Analyst Note 09/13/2016
Following the announcement of more than 5,000 firings related to overly aggressive and occasionally fraudulent behavior by Wells Fargo employees, we took a deeper look at the company’s relationship with its customers as we reassessed the company’s stewardship. Using data from the Consumer Financial Protection Bureau--the regulator responsible for $100 million of the total $185 million penalty--we established that Wells Fargo is not an outlier in terms of its customer relations. The CFPB database contains more than 10,000 customer complaints related to issues with Wells Fargo accounts and services. However, this represents only nine complaints for every $1 billion of customer deposits held by the bank. For comparison, TCF Financial recorded more than 50 customer CFPB complaints for every $1 billion of customer deposits, and CFPB complaint rates at large regional competitors like Regions Financial, SunTrust, and Citizens Financial were over 50% higher than those at Wells Fargo. We also note that the firings, which occurred at numerous levels, represent just 2% of the firm’s total employees, and the company has already announced an end to the aggressive retail sales goals that created misaligned incentives. Problems associated with faulty incentives are well-known in the business world--observers from Berkshire Hathaway’s Charlie Munger to professors at Harvard Business School have commented on the subject. While this by no means excuses Wells Fargo’s behavior, it supports our thesis that the company’s culture and management have generally done quite well for both shareholders and customers over time.
Analyst Note 09/13/2016
Following the announcement of more than 5,000 firings related to overly aggressive and occasionally fraudulent behavior by Wells Fargo employees, we took a deeper look at the company’s relationship with its customers as we reassessed the company’s stewardship. Using data from the Consumer Financial Protection Bureau--the regulator responsible for $100 million of the total $185 million penalty--we established that Wells Fargo is not an outlier in terms of its customer relations. The CFPB database contains more than 10,000 customer complaints related to issues with Wells Fargo accounts and services. However, this represents only nine complaints for every $1 billion of customer deposits held by the bank. For comparison, TCF Financial recorded more than 50 customer CFPB complaints for every $1 billion of customer deposits, and CFPB complaint rates at large regional competitors like Regions Financial, SunTrust, and Citizens Financial were over 50% higher than those at Wells Fargo. We also note that the firings, which occurred at numerous levels, represent just 2% of the firm’s total employees, and the company has already announced an end to the aggressive retail sales goals that created misaligned incentives. Problems associated with faulty incentives are well-known in the business world--observers from Berkshire Hathaway’s Charlie Munger to professors at Harvard Business School have commented on the subject. While this by no means excuses Wells Fargo’s behavior, it supports our thesis that the company’s culture and management have generally done quite well for both shareholders and customers over time.
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Samsung. Despite an utter fail on the Note, they are still the world market leader in smart phone sales.
not just smart phones but numerous other products like tvs washers and dryers and they make a lot of the components that go into other electronics.
Samsung's appliances are cutting edge for features, but their reliability blows. I was very tempted to get a Samsung washer/dryer until I read the reviews online and saw the large number of returns sitting in the store. My mother bought all Samsung for her kitchen remodel two years ago and has already had the entire guts of the dishwasher replaced and the fridge and stove also have issues.
Our house we bought last year came with Samsung w/d's. They have a few glitches here and there but they've been pretty good otherwise.
I was reading the WSJ this morning and saw the ad for a Samsung refrigerator that is equipped with internal cameras that snap photos every time you close the doors so that you know what you do/don't have. Not sure how reliable or effective it is (especially with the way that my wife stocks the fridge), but it was interesting nonetheless. I also recently saw a fridge at HD/Lowe's (GE I think) that had a Keurig machine built into the door. I'm just now in the market for a new fridge. The water equipment in ours - line and ice maker - are both shot, so it's probably cheaper (or at least on par) to buy a new one rather than deal with the inconvenience and cost of repair.
My ice maker has gone out on my fridge twice. I bought OEM parts on Amazon and fixed it myself for about $80. I've also replaced the fan in it for about $15. A lot cheaper than a purchasing a new one.
The ice maker and associated equipment (including the levers that activate ice and water disbursement) went out on mine a few years ago. I ordered the parts (direct from manufacturer), which cost me about $200, and set up to fix everything. From 1 to 10 on a scale of handiness, I'm probably an 8. I messed with this thing for hours and hours and was no closer to fixing it then than I was when I started. As if that wasn't bad enough, my girls were always around so I couldn't curse to make myself feel any better. In the end I wound up calling the manufacturer, bought an extended warranty for another $200 or so and then had a repair guy come out. Luckily he was able to use the parts that I had already purchased, but I had to purchase another part or two because of some things I screwed up while trying to fix it myself. I won't go through that again. Plus, the water line (or something associated with it) is leaking from somewhere inside the fridge and I have neither the time nor the inclination to diagnose and fix it.
Either one. Get an eight figure salary and nine figure parachute. Probably would prefer Samsung though, I'd kill myself having to constantly deal with cry baby white guilt hipster liberals in San Fran. I can handle one Chemmie, but a million of them would be hell.
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