Frankly I think it is a good sign that Wachovia CEO Bob Steel has let it be known he will not be staying on once Wells finishes swallowing up WB. Makes it clear that big changes are afoot and that nothing is guaranteed and — even more importantly — there will be no boardroom featherbedding as the great federal buy-in rolls on.
The latter has to be an important consideration for Steel’s former colleagues at Treasury to see broadcast across the land. Time to get lean and mean, no more glitz and spin. (I know, I know. I am trying to buy-in to the buy-in. Stick with me. It’ll all blow up soon enough.)
But what I really want to know — the bookend to Steel’s brief tenure in Charlotte — is he gonna sell his house?
