Does that make sense to anyone??

Ed Terpening, can you comment on this?

So you have to leave the tourney named The Wachovia because ticket printing deadlines in October, but now you are removing any traces of the Wachovia name 2 months in advance of the event?

http://www.nytimes.com/aponline/2009/02/27/sports/AP-GLF-Wachovia-Sponsor.html?_r=1

Headline hit at midnight. This is unfortunate. The Charlotte tour event is a perfect platform for the Wells/Wachovia combination to create brand awareness regionally, nationally, and even globally. But with this kind of political pressure I can certainly see where Wells would shrink away.

I personally thought the event would be abandoned by Wells anyway but I can’t blame them in the least for bailing out now (pun intended;-).

Odds moved to 20-1 against Wells being involved with this event in ’10.

At this point I doubt sponsoring a PGA Tour event is in the cards until the TARP $$ get paid back. While I think WFC had already made their mind not to sponsor the Wachovia/Charlotte event after ’09, these developments give them a clean way out — and I can’t blame them.

Johnny, better get busy finding a new sponsor…

All joking aside, what allude to isn’t just a maybe, it’s a fact. Just see what happened with Citigroup, Geithner, and the jet.

I think Wells Fargo still controls their own destiny on discretionary spends like this golf event. At least for now they do.

But take a look at the Chrysler Bob Hope Invitational (another PGA Tour event) that was held in Palm Springs last week…Chrysler was almost invisible — on purpose. No doubt the reason was they didn’t want raise the hackles of the politicians. There was talk that Bank of America was looking at a $20million sponsorship deal with the NY Yankee’s — laying 10-1 lunch odds that one goes by the wayside and I don’t expect to get any takers!

Oh for this to all be over…

I hope you are right. This event it one of the VERY BEST on tour and one of only a handful outside of the majors that Tiger traditionally plays in. They could really get a LOT of great BRAND MILEAGE out of it if they handled it properly. And it would go a long way toward showing Charlotte that WFC is interested in the “community”…which just so happens to be one of the “core values” that the banks consistently highlight!! (as per your study)

However, I have been able to confirm the ’10-’14 status remains “to be determined”, at least as far as anyone in Charlotte knows — and that doesn’t mean much because Charlotte is out of the loop at this point.

Line stays at 7:1

This sentence appeared in a Charlotte Observer article today that was about bank sponsorship activities:

“At Wells Fargo, the San Francisco-based bank plans to honor current sponsorship contracts made by Wachovia, spokeswoman Mary Eshet said.”

I guess the whole thing hinges on the word “current”. Does this mean current year, as in ’09? Or current contracts that extend into the future? (Wachovia had signed a contract to sponsor the Charlotte PGA Tour event through 2014)

Come on now people, 11 lunches to be won, 1 lunch to be lost…that’s a no brainer, take a flyer!!!!

Hey Ed, what happened to the Stumpf section of your “blog”? Seems to have disappeared.

Also, what’s up with the 11:1 ratio of WFC exec’s vs. WB exec’s on the operating committee? I know that’s been asked about a couple times on the “blog”, but never made it through the screeners…

Hey, look at that, 11:1 odds…same as the exec committee breakdown!!!!

at this pace WFC really won’t be able to afford the tourney, stock down ~60% from the peak on the heels of the deal announcement.

obviously the tide’s gone out on all banking boats, to a degree, but WFC was way in front of the pack and then cast aside all their safety gear (rafts, preservers, flashlights, flares, shark suits, everything…) in an effort to lighten up and garner just a little bit more speed — unfortunately that shadow on the horizon was a series of 100′ rogue waves…

…hold on fellas.