Washington Mutual, Wachovia Shake Things Up

The shake-ups at Washington Mutual (NYSE: WM) and Wachovia (NYSE: WB) could have as much to do with protecting against shareholder lawsuits as anything else. The errors of lenders were widespread, so one might argue that management did what it knew.

We, however, agree with the firing of managers of poor performing firms no matter how widespread the issue is or was. Each individual investor is concerned with the value of his shares in the company he owns, not the ability to relate to others in the poorhouse. We're glad to see Directors seeing things properly, even if it took the threat of negligence suits and loss of position to get them to act.

A poison pill came to play when Microsoft (Nasdaq: MSFT) bid for Yahoo (Nasdaq: YHOO). Yahoo dissident shareholders continue to pressure management to consider a deal that would fetch more than the current price by 25%. Problem is, that deal is not available now, at least not as long as it is poisonous. Email readers must visit the Wall Street Greek website to see the video.


The views expressed within the video may not agree with the opinion of "The Greek." Article interests AMEX: DIA, AMEX: SPY, AMEX: QLD, AMEX: SDS, AMEX: DOG, Nasdaq: QQQQ.