Wells Fargo Research Paper Example | Topics and Well Written Essays - 500 words

Wells Fargo - Research Paper Example It was an unusual marriage, coupling a Charlotte-based stock that had funded the Sun Belt’s housing gurgle with a San Francisco-based stock that had mostly evaded it. As it is evident, a Birmingham, based construction comprehensive supply corporation seems to have played a major part in this merger. Wells Fargo and Wachovia didn’t have any clear leadership links at the time of their merger. Network diagrams of their boards and top executives show no knits. There are no personalitys with links in both companies. (Boards of directors of Wells Fargo & Wachovia, pre-merger) But that alters when you spread out the graph to include Vulcan Materials, a Birmingham founded concrete broker. On the Wells Fargo side, Donald B Rice, the chairman of Wells Fargo until 2007, sits on the Vulcan board, while Wachovia’s board comprised not one but two Vulcan Materials board members: Donald M James and John D Baker II. These three characters have extremely strong links to Vulcan Materials. Donald B Rice, the Wells Fargo director, has been a board member for almost twenty years, the second greatest spell of any board member. Donald M James is Vulcan’s Chairman and Chief Executive Officer, since 1996. John D Baker II is a comparative newcomer to the business, as the former CEO of Florida Rock Industries, which was acquired by Vulcan in 2007. The Vulcan-Florida Rock deal was huge enough to draw the interest of the Justice Department’s anti-trust division. Physically powerful links to Vulcan without a doubt connected the gap linking Wachovia and Wells Fargo, but is this enough to wind up that the corporation played a major part in the merger? Perhaps not. These board members recognized each other, so what? Commercial America’s societal networks are intense. But what ensued following the Wells Fargo-Wachovia merger puts forward