There's been a lot of talk about how old Lehman Bros. and Merrill Lynch were, venerable institutions which have either gone away or been swallowed up.
Well, Washington Mutual was founded in 1889. Not too many WaMu employees were in a talkative mood outside the firm's Seattle headquarters today (can you blame them?). But a few did speak.
A business management analyst who's already found a new job said: "Seeing what's happened to Bear Stearns and Lehman and even AIG, you know, you can't help but be concerned." She described the mood inside as "sad, but people are trying to do the best job they can...they're giving the new CEO a chance."
A financial analyst with the company was more upbeat: "I think the long-term outlook is good," he said, adding, "I think the company's doing really well. It's just a small portion that's hurting--that's what everybody's been focusing on, and it's unfortunate."
While he says no one in hq is "in a downer mood" they are anxious: "I think there's a feeling something's going to happen, but we don't know what."
- WaMu rebounds as investor clears way for sale
- Morgan Stanley in Advanced Merger Talks With Wachovia
- Web Extra From On The Money: What to Do About WaMu
And a tech manager was blunt: "I think people are pretty demoralized, but working hard," he said. "We're aware of all the rumors but we want to give our best to what we're doing. That's all we can do."
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