I’m not sure what the most shocking business headline of the day is… You decide.
Wachovia mortgage unit halting loans via brokers
Wachovia is planning to stop offering home loans through brokers. They claim they want to focus on customers who have “relationships” with the bank. When was the last time a bank focused on the customer and not their assets?
Bank of America profit falls 41 percent but tops views
How is it, that a companies profits can fall 41%, and still be seen as a good thing? Just think, if they hadn’t taken part in the whole sub-prime lending fiasco, they could have helped avert the crisis in the first place. But then again, I bet they don’t focus on their customers the way Wachovia does. (cough)
Apple outlook well below Wall Street view
What? I don’t get it. Apple is always conservative in their outlook. Why is anyone surprised they came in under Wall Street’s view? If you read the whole article you will find that along with their September forecast being low, they also forecast that their third-quarter income would come in at $1 per share. Wall Street analysts expected $1.08, and they came in at $1.19. I bet, come September, the numbers going to fall in line like it has every time in the past.
So, which one is the most shocking story of the day? Tell me.




