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#1: thoughts on Wal-mart banks?

Posted on 2006-03-11 18:47:48 by Adam Russell

Was wondering what you all think about Wal-mart's request to open banks, and
the opposition forming to it. Personally I get the feeling that some are
just afraid of competition from 'outsiders', and if that's so then it must
be a good thing.
<a href="http://today.reuters.com/news/newsarticle.aspx?type=businessNews&amp;storyid=2006-03-10T164922Z_01_N10240586_RTRUKOC_0_US-FINANCING-BANKING-WALMART.xml&amp;rpc=23" target="_blank"> http://today.reuters.com/news/newsarticle.aspx?type=business News&amp;storyid=2006-03-10T164922Z_01_N10240586_RTRUKOC_0_U S-FINANCING-BANKING-WALMART.xml&amp;rpc=23</a>

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#2: Re: thoughts on Wal-mart banks?

Posted on 2006-03-11 19:39:30 by blash

Adam Russell says:

&gt; Personally I get the feeling that some are
&gt; just afraid of competition from 'outsiders', and if that's so then it must
&gt; be a good thing.

I suppose that's as good a reason to make a decision as flipping a
coin......

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#3: Re: thoughts on Wal-mart banks?

Posted on 2006-03-12 00:19:26 by Arthur

I don't like it for several reasons.
What do they want to be when they grow up?
Is there enough regulatory muscle to oversee all these paper tigers?
Why must the tax payers pay for the above?
That's enough for now so .... NO NO NO

arthur
===

On Sat, 11 Mar 2006 09:47:48 -0800, &quot;Adam Russell&quot;
&lt;<a href="mailto:adamrussell&#64;sbcglobal.net.invalid" target="_blank">adamrussell&#64;sbcglobal.net.invalid</a>&gt; wrote:

&gt;Was wondering what you all think about Wal-mart's request to open banks, and
&gt;the opposition forming to it. Personally I get the feeling that some are
&gt;just afraid of competition from 'outsiders', and if that's so then it must
&gt;be a good thing.

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#4: Re: thoughts on Wal-mart banks?

Posted on 2006-03-12 00:19:40 by bob36swmla

walmart opening banks??? theyre going to get killed. they aint no giant
compared to some banks n insurance companys.lol
i'm no fan of walmart. with walmarts large amounts of buying i think
theyre getting bigger cuts from suppliers but not pasing on thier deals
they get to the people.
Also walmart i think has a bigger role on keeping minium wage low in
the usa.

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#5: Re: thoughts on Wal-mart banks?

Posted on 2006-03-12 00:36:55 by Dr Tormento

&quot;Adam Russell&quot; &lt;<a href="mailto:adamrussell&#64;sbcglobal.net.invalid" target="_blank">adamrussell&#64;sbcglobal.net.invalid</a>&gt; wrote in
news:<a href="mailto:47ggi5Ff8dm3U1&#64;individual.net" target="_blank">47ggi5Ff8dm3U1&#64;individual.net</a>:

&gt; Was wondering what you all think about Wal-mart's request to open
&gt; banks, and the opposition forming to it. Personally I get the feeling
&gt; that some are just afraid of competition from 'outsiders', and if
&gt; that's so then it must be a good thing.
&gt; <a href="http://today.reuters.com/news/newsarticle.aspx?type=businessNews&amp;storyi" target="_blank"> http://today.reuters.com/news/newsarticle.aspx?type=business News&amp;storyi</a>
&gt; d=2006-03-10T164922Z_01_N10240586_RTRUKOC_0_US-FINANCING-BAN KING-WALMAR
&gt; T.xml&amp;rpc=23
&gt;
&gt;

As I understand it, industrial banks are not allowed to go into
activities like checking accounts and other routine retail services.

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#6: Re: thoughts on Wal-mart banks?

Posted on 2006-03-12 01:11:57 by wormser

Adam Russell Wrote:
&gt; Was wondering what you all think about Wal-mart's request to open banks,
&gt; and
&gt; the opposition forming to it. Personally I get the feeling that some
&gt; are
&gt; just afraid of competition from 'outsiders', and if that's so then it
&gt; must
&gt; be a good thing.
&gt; <a href="http://tinyurl.com/zcjov" target="_blank">http://tinyurl.com/zcjov</a>

Threaten the stability of our financial system? Yeah right. Wal-Mart
is certainly gonna take down a lot of local banks if it actually does
this, but if anything it will make things more stable because they will
be uniform and run with Wal-Mart's super efficiency.


--
wormser

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#7: Re: thoughts on Wal-mart banks?

Posted on 2006-03-12 01:58:09 by bartonmj

FDIC: Wal-Mart Bank Federal Deposit Insurance Application

<a href="http://www.fdic.gov/regulations/laws/walmart/index.html" target="_blank">http://www.fdic.gov/regulations/laws/walmart/index.html</a>

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#8: Re: thoughts on Wal-mart banks?

Posted on 2006-03-12 06:28:04 by Arthur

You are confusing retail and banking.
Who is going to run the company?
A retailer or banker?
Yeh, let's return to the Conglomerates of the 50's.
Great idea who's time has come.

a
==

On Sun, 12 Mar 2006 00:11:57 +0000, wormser
&lt;<a href="mailto:wormser.24jcns&#64;news.investmentbanter.com" target="_blank">wormser.24jcns&#64;news.investmentbanter.com</a>&gt; wrote:
&gt;
&gt;Threaten the stability of our financial system? Yeah right. Wal-Mart
&gt;is certainly gonna take down a lot of local banks if it actually does
&gt;this, but if anything it will make things more stable because they will
&gt;be uniform and run with Wal-Mart's super efficiency.

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#9: Re: thoughts on Wal-mart banks?

Posted on 2006-03-12 06:45:54 by will e

Oh Boy, I can see a typical bank robbery: First an old dude in a smiley face
vest rolls a shopping cart to the robber. Then, the robber loads up on
psudofeds at the pharmacy grabs two cases of capperchino flavored
Slim-fast,dog food, a couple of notebooks, some music CDs, a burger and frys
at the fast food department, sun glasses and yuppie water at the checkout
stand. and waits for an hour for the line to move, THEN, tells the
&quot;teller/checkout girl&quot; to fill the basket with cash.Of course she is a
trainee and can't get the cash drawer open. Now, security drives up in a
golf cart but slips on spilled coke and buttered popcorn. The robber now
makes a mad dash for the door where he is met by the old dude greeter who
asks him if he needs help out to the parking lot. Once out in the lot it
takes one hour to find his car and is stuck in a pedistrian crosswalk for
another hour........On second thought,maybe Wal-mart would be a safe place
to put my money. 8) WillE.


&quot;Adam Russell&quot; &lt;<a href="mailto:adamrussell&#64;sbcglobal.net.invalid" target="_blank">adamrussell&#64;sbcglobal.net.invalid</a>&gt; wrote in message
news:<a href="mailto:47ggi5Ff8dm3U1&#64;individual.net..." target="_blank">47ggi5Ff8dm3U1&#64;individual.net...</a>
&gt; Was wondering what you all think about Wal-mart's request to open banks,
&gt; and the opposition forming to it. Personally I get the feeling that some
&gt; are just afraid of competition from 'outsiders', and if that's so then it
&gt; must be a good thing.
&gt; <a href="http://today.reuters.com/news/newsarticle.aspx?type=businessNews&amp;storyid=2006-03-10T164922Z_01_N10240586_RTRUKOC_0_US-FINANCING-BANKING-WALMART.xml&amp;rpc=23" target="_blank"> http://today.reuters.com/news/newsarticle.aspx?type=business News&amp;storyid=2006-03-10T164922Z_01_N10240586_RTRUKOC_0_U S-FINANCING-BANKING-WALMART.xml&amp;rpc=23</a>
&gt;

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#10: Re: thoughts on Wal-mart banks?

Posted on 2006-03-12 07:11:00 by NewNameHere

Blash wrote:
&gt; Adam Russell says:
&gt;
&gt;&gt; Personally I get the feeling that some are
&gt;&gt; just afraid of competition from 'outsiders', and if that's so then it must
&gt;&gt; be a good thing.
&gt;
&gt; I suppose that's as good a reason to make a decision as flipping a
&gt; coin......

And, of course, we all appreciate the better reasons you have
provided in you posts from the ben ben stone.

Hope this helps

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#11: Re: thoughts on Wal-mart banks?

Posted on 2006-03-12 18:58:13 by Don S

will1 wrote:

&gt;Oh Boy, I can see a typical bank robbery: First an old dude in a smiley face
&gt;vest rolls a shopping cart to the robber. Then, the robber loads up on
&gt;psudofeds at the pharmacy grabs two cases of capperchino flavored
&gt;Slim-fast,dog food, a couple of notebooks, some music CDs, a burger and frys
&gt;at the fast food department, sun glasses and yuppie water at the checkout
&gt;stand. and waits for an hour for the line to move, THEN, tells the
&gt;&quot;teller/checkout girl&quot; to fill the basket with cash.Of course she is a
&gt;trainee and can't get the cash drawer open. Now, security drives up in a
&gt;golf cart but slips on spilled coke and buttered popcorn. The robber now
&gt;makes a mad dash for the door where he is met by the old dude greeter who
&gt;asks him if he needs help out to the parking lot. Once out in the lot it
&gt;takes one hour to find his car and is stuck in a pedistrian crosswalk for
&gt;another hour........On second thought,maybe Wal-mart would be a safe place
&gt;to put my money. 8) WillE.
&gt;
&gt;
You are bad, bad, bad, and should be spanked. Now where is Carolyn you
can never find her you you need her.

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#12: Re: thoughts on Wal-mart banks?

Posted on 2006-03-12 23:11:09 by Arthur

IMHO, they will shut down their eyewear dept which seems an under
performer and use that space for the bank. Seriously.

a
==

On Sun, 12 Mar 2006 17:58:13 GMT, Don S
&lt;<a href="mailto:suterdfNoSpam&#64;NoSpamverizon.net" target="_blank">suterdfNoSpam&#64;NoSpamverizon.net</a>&gt; wrote:

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