Page 1 of 3 123 LastLast
Results 1 to 15 of 36
  1. #1
    Addict
    Points: 98,459, Level: 97
    Level completed: 71%, Points required for next Level: 591
    Overall activity: 4.0%
    Achievements:
    Veteran50000 Experience Points
    huntt26's Avatar
    Join Date
    Apr 2006
    Location
    po' dUnk
    Posts
    8,833
    Points
    98,459
    Level
    97
    Thumbs Up
    Received: 583
    Given: 181

    West Des Moines Taking Large Hit...

    http://finance.yahoo.com/real-estate...nancial-Crisis

    Saw a picture of Des Moines show up on yahoo.com news just now, and decided to click on it.

    Thought it would be of interest. Sounds like West Des Moines will be taking a large hit due to the struggling economy.

    It is #4 on the list of the 10 that will feel the most impact.



  2. #2
    Asst. Regional Manager
    Points: 288,286, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 34.0%
    Achievements:
    SocialVeteran50000 Experience Points
    mj4cy's Avatar
    Join Date
    Mar 2006
    Location
    Ankeny
    Posts
    19,759
    Points
    288,286
    Level
    100
    Thumbs Up
    Received: 2,169
    Given: 1,487

    Re: West Des Moines Taking Large Hit...

    Saw that too. Of coures they said West Des Moines and showed a picture of Des Moines.


    @RandomGeoFacts

  3. #3
    Speechless
    Points: 787,780, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 35.0%
    Achievements:
    SocialVeteranCreated Album pictures50000 Experience PointsOverdrive
    Cyclonepride's Avatar
    Join Date
    Apr 2006
    Location
    A pineapple under the sea
    Posts
    53,951
    Points
    787,780
    Level
    100
    Thumbs Up
    Received: 5,570
    Given: 2,493

    Re: West Des Moines Taking Large Hit...

    I could be wrong, but it seems that they based that on the number or percentage of financial or insurance jobs, which doesn't necessarily measure the health of the companies involved.



  4. #4
    Addict
    Points: 86,652, Level: 91
    Level completed: 58%, Points required for next Level: 798
    Overall activity: 16.0%
    Achievements:
    Veteran50000 Experience Points

    Join Date
    Apr 2006
    Posts
    6,660
    Points
    86,652
    Level
    91
    Thumbs Up
    Received: 405
    Given: 0

    Re: West Des Moines Taking Large Hit...

    The major companies in W Des Moines should make it through this. Wells Fargo, Citibank, Principal should all survive this. Actually they are the ones that will probably benefit from the federal buyout. I think thiese companies will slump for a few years but they will not fail.



  5. #5
    Pro
    Points: 30,875, Level: 54
    Level completed: 3%, Points required for next Level: 1,075
    Overall activity: 2.0%
    Achievements:
    Veteran25000 Experience Points
    cygrads's Avatar
    Join Date
    Jul 2007
    Location
    Altoona, IA
    Posts
    2,257
    Points
    30,875
    Level
    54
    Thumbs Up
    Received: 66
    Given: 408

    Re: West Des Moines Taking Large Hit...

    Quote Originally Posted by Cyclonepride View Post
    I could be wrong, but it seems that they based that on the number or percentage of financial or insurance jobs, which doesn't necessarily measure the health of the companies involved.
    You are correct the article said it was based on the % of finance & ins industry jobs - it did not even attempt to determine what companies were in those locations. WDM is fine, Wells Fargo is one of the strongest banks in the US and if Wells buys someone like Wachovia they could possibly gain jobs. Wells may stand pat and not jump into the purchase frenzy like BofA - Wells only buys when its a very good deal for themselves.



  6. #6
    Speechless
    Points: 198,257, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 5.0%
    Achievements:
    Veteran50000 Experience Points
    kingcy's Avatar
    Join Date
    Sep 2006
    Location
    Menlo, Iowa
    Posts
    18,633
    Points
    198,257
    Level
    100
    Thumbs Up
    Received: 591
    Given: 508

    Re: West Des Moines Taking Large Hit...

    Most of the banks that employ a lot in Des Moines are ones that probaly did things the right way.


    The gap in our economy is between what we have and what we think we ought to have--and that is a moral problem, not an economic one. - Paul Heyne

  7. #7
    All-Star
    Points: 23,896, Level: 47
    Level completed: 35%, Points required for next Level: 654
    Overall activity: 0%
    Achievements:
    SocialVeteran10000 Experience Points
    cloneluke80's Avatar
    Join Date
    Apr 2006
    Location
    West Des Moines, IA
    Posts
    1,671
    Points
    23,896
    Level
    47
    Thumbs Up
    Received: 16
    Given: 48

    Re: West Des Moines Taking Large Hit...

    It depends how deep this thing goes. I think the bailout will only slow it down. What no one realizes about the bailout is that these banks will get all that bad debt off their books, but there will not be liquidity overnight.

    Lending HAS to tighten up.

    I do think West Des Moines has some more correction coming in housing prices as well.



  8. #8
    Addict
    Points: 63,813, Level: 78
    Level completed: 36%, Points required for next Level: 1,037
    Overall activity: 0%
    Achievements:
    Veteran50000 Experience Points
    jumbopackage's Avatar
    Join Date
    Sep 2007
    Posts
    5,481
    Points
    63,813
    Level
    78
    Thumbs Up
    Received: 22
    Given: 10

    Re: West Des Moines Taking Large Hit...

    Wells Fargo is in great shape. I think the Des Moines metro is going to come out of this in excellent shape as well.

    While lending across the board may tighten up a bit, we are seeing commercial banks with sound financials come out of this well. They are doing the buying, not being bought.


    "Homemade beer, after all, is like a democracy. Every so often, youíre gonna hate what comes out of it. But when itís good, itís the best." - woot.com

  9. #9
    Speechless
    Points: 444,919, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 2.0%
    Achievements:
    SocialRecommendation Second ClassVeteranCreated Album pictures50000 Experience Points

    Join Date
    Nov 2007
    Location
    Ames
    Posts
    24,288
    Points
    444,919
    Level
    100
    Thumbs Up
    Received: 469
    Given: 96

    Re: West Des Moines Taking Large Hit...

    Wells Fargo will be fine in just about any economic situation simply because it's so diversified across many different levels and not focused solely on finance or banking.



  10. #10
    Addict
    Points: 95,282, Level: 96
    Level completed: 12%, Points required for next Level: 1,768
    Overall activity: 0%
    Achievements:
    Veteran50000 Experience Points
    capitalcityguy's Avatar
    Join Date
    Jun 2007
    Location
    Des Moines
    Posts
    5,802
    Points
    95,282
    Level
    96
    Thumbs Up
    Received: 341
    Given: 342

    Re: West Des Moines Taking Large Hit...

    Quote Originally Posted by kingcy View Post
    Most of the banks that employ a lot in Des Moines are ones that probaly did things the right way.
    This is MUCH bigger than just "banks".



  11. #11
    Legend
    Points: 219,354, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 20.0%
    Achievements:
    SocialCreated Album picturesVeteran50000 Experience Points
    dmclone's Avatar
    Join Date
    Oct 2006
    Location
    50131
    Posts
    14,500
    Points
    219,354
    Level
    100
    Thumbs Up
    Received: 664
    Given: 966

    Re: West Des Moines Taking Large Hit...

    IMO

    Principal=Fine
    WF=I've heard fine. They must have changed because when I was there they had a lot of Mortgages and 2nd's that were ugly.
    CITI-From what I've seen and heard bad

    The other one that people forget about is Aviva. From everything I've heard, they are a good company with their HQ in London.



  12. #12
    All-Star
    Points: 13,239, Level: 34
    Level completed: 85%, Points required for next Level: 111
    Overall activity: 0%
    Achievements:
    Veteran10000 Experience Points
    cycloneryan's Avatar
    Join Date
    May 2006
    Location
    Des Moines
    Posts
    1,075
    Points
    13,239
    Level
    34
    Thumbs Up
    Received: 0
    Given: 0

    Re: West Des Moines Taking Large Hit...

    I wouldn't be too quick to say that wells fargo is safe from all of this. The could end up taking a big hit.



  13. #13
    All-Star
    Points: 31,778, Level: 54
    Level completed: 85%, Points required for next Level: 172
    Overall activity: 0%
    Achievements:
    SocialVeteran25000 Experience Points

    Join Date
    Feb 2008
    Location
    Des Moines, IA
    Posts
    1,878
    Points
    31,778
    Level
    54
    Thumbs Up
    Received: 67
    Given: 87

    Re: West Des Moines Taking Large Hit...

    Citi must not be doing too bad - its acquisition of Wachovia was announced this morning.


    ISU fans are the greatest in the world. All they ask for is hope and the belief that we have a chance to win every time we step on the field - Johnny Majors (paraphrased)

    Ya gotta have the horses, man - Johnny Orr.

  14. #14
    Burgermeister!
    Points: 374,591, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 3.0%
    Achievements:
    SocialVeteran50000 Experience Points
    TykeClone's Avatar
    Join Date
    Oct 2006
    Posts
    23,828
    Points
    374,591
    Level
    100
    Thumbs Up
    Received: 821
    Given: 1,293

    Re: West Des Moines Taking Large Hit...

    Quote Originally Posted by djkent01 View Post
    Citi must not be doing too bad - its acquisition of Wachovia was announced this morning.
    It will remain to be seen if this was a wise move by them.



  15. #15
    Addict
    Points: 95,282, Level: 96
    Level completed: 12%, Points required for next Level: 1,768
    Overall activity: 0%
    Achievements:
    Veteran50000 Experience Points
    capitalcityguy's Avatar
    Join Date
    Jun 2007
    Location
    Des Moines
    Posts
    5,802
    Points
    95,282
    Level
    96
    Thumbs Up
    Received: 341
    Given: 342

    Re: West Des Moines Taking Large Hit...

    Aviva (at least until 2009/2010), Principal, and Wells Fargo Financial are all headquartered in Des Moines, not W Des Moines. Wells Fargo Mortgage as well as other smaller financial services companies are headquartered in W DSM.
    I wonder if the article meant to really talk about Des Moines metro, and not just W DSM?

    If is didn't, then referring to companies headquartered in Des Moines seem a bit irrelevant to the prediction.



Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
  • TV: Cyclones.TV
  • FOOTBALL: Iowa State vs. UNI
  • September 5, 2015
  • 07:00 PM