Who will win the banking wars?

February 4, 2008
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Itâ??s no secret that banks are in upheaval thanks to the subprime mortgage crisis and the domino affect mess itâ??s creating.

In an IBJ story over the weekend, reporter Cory Schouten discusses the local grab for market share, as the strongest banks move to take territory from weakened competitors.

Aggressors include JP Morgan Chase & Co. and Marshall & Ilsley Corp., which bought First Indiana Corp.

Fighting to regain its footing is Irwin Financial, the parent of Irwin Union Bank. Shares in Irwin, whose roots in Columbus date nearly to the Civil War, are down 60 percent in the past year.

Which banks will end up the better after the dust settles? Which wonâ??t? And can Irwin stay independent?
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  • I have noticed that some banks change hands several times in the past several years while others (National City [NC]) has stayed the same (to the public eye). It made me feel uneasy when I started to see other banks (even bank one) change hands. I was worried that NC was going to do the same.

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  1. With Pence running the ship good luck with a new government building on the site. He does everything on the cheap except unnecessary roads line a new beltway( like we need that). Things like state of the art office buildings and light rail will never be seen as an asset to these types. They don't get that these are the things that help a city prosper.

  2. Does the $100,000,000,000 include salaries for members of Congress?

  3. "But that doesn't change how the piece plays to most of the people who will see it." If it stands out so little during the day as you seem to suggest maybe most of the people who actually see it will be those present when it is dark enough to experience its full effects.

  4. That's the mentality of most retail marketers. In this case Leo was asked to build the brand. HHG then had a bad sales quarter and rather than stay the course, now want to go back to the schlock that Zimmerman provides (at a considerable cut in price.) And while HHG salesmen are, by far, the pushiest salesmen I have ever experienced, I believe they are NOT paid on commission. But that doesn't mean they aren't trained to be aggressive.

  5. The reason HHG's sales team hits you from the moment you walk through the door is the same reason car salesmen do the same thing: Commission. HHG's folks are paid by commission they and need to hit sales targets or get cut, while BB does not. The sales figures are aggressive, so turnover rate is high. Electronics are the largest commission earners along with non-needed warranties, service plans etc, known in the industry as 'cheese'. The wholesale base price is listed on the cryptic price tag in the string of numbers near the bar code. Know how to decipher it and you get things at cost, with little to no commission to the sales persons. Whether or not this is fair, is more of a moral question than a financial one.

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