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(NYPost)   Wells Fargo CEO says there's not enough black people who want to work in a bank to hire   (nypost.com) divider line
    More: Strange, African American, Bank of America, executive Charles Scharf, Wells Fargo, black employees, Chief executive officer, Miscegenation, Management  
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564 clicks; posted to Business » on 22 Sep 2020 at 5:50 PM (5 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



35 Comments     (+0 »)
 
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2020-09-22 3:27:42 PM  
Banks don't even like black people as customers, much less touching their money.
 
2020-09-22 3:38:26 PM  
Perhaps if you had branches that were actually in their neighborhoods...

// Sorry...too obvious?
 
2020-09-22 4:46:49 PM  
The only reason Wells Fargo will hire a black guy is to have someone to blame when their crimes inevitably come to light.
 
2020-09-22 5:15:20 PM  
....which is a result of years, nay, centuries of under-funding education in predominantly minority communities, which is a result of low wages and increased poverty in those communities, which is the result of lower business investment in those communities, which is the result of banks making it extremely difficult for people of those communities to get money for operating businesses, which is the result of systemic racism throughout the entire process.

Isn't capitalism grand?

/If you give a mouse a cupcake....
 
2020-09-22 6:00:16 PM  
"Wells Fargo's latest proxy disclosed more diversity data than those of many other companies, including that two of 12 directors at the time were black"

Two out of 12 is 17%.  Black people are 13% of the population.

They're over-represented.
 
2020-09-22 6:07:23 PM  

AngryDragon: "Wells Fargo's latest proxy disclosed more diversity data than those of many other companies, including that two of 12 directors at the time were black"

Two out of 12 is 17%.  Black people are 13% of the population.

They're over-represented.


Maybe they should measure the board of directors by weight. Make those black directors lose some weight to bring the representations back to normal.
 
2020-09-22 6:07:46 PM  
"There is an amazing amount of black talent out there," said Ken Bacon, a former mortgage industry executive who is on the boards of Comcast, Ally Financial and Welltower. "If people say they can't find the talent, they either aren't looking hard enough or don't want to find it."
%

Or it's all working for somebody else because it's scarce and in high demand now because of diversity rules, goals, and laws.
 
2020-09-22 6:09:52 PM  
shut down Wells Fargo.  Problem solved.  Lots of problems solved, like signing people up for mortgauges they didn't know about.
 
2020-09-22 6:10:09 PM  
That's just an obtuse way of saying he thinks black people are too dumb to be  in banking.
 
2020-09-22 6:11:07 PM  
There are several Black-owned banks in the US, the largest being One United Bank.  I opened an account there to Bank Black.  Moving your money is a big deal.

/How do you keep the Black folks from stealing your money?
//Give it to them freely, let them manage it.
 
2020-09-22 6:40:44 PM  
Probably the worst job interview I've ever given.  Some 20 years ago.  A black kid in an impressive suit, tie, haircut, etc.  With some 40 year old white guy in the reception area.

I'm not into the pressure interviews.  I start with a simple question, and each question is harder.  Idea is to put the candidate at peace while figuring out what he knows.  Only one guy answered my final interview question in 20 years, he was fricken brilliant.

Anywhoo, I ask this guy my softball question.  And he flails.  Can't even come up with an approach to solving the problem (we're below the string reversal in C here, I haven't gotten to that).  I try to guide him, nada.  I spent my 45 minutes trying to get this kid to at least figure out a way to approach the problem.  Nothing.

I have always felt bad about that.  I figure the kid was in one of those "prison to work" programs, and the people running it figured a sharp suit and haircut was all it took to get a job.

Kid, if you interviewed at Stellcom in 2000 or so, let me know you turned out ok.  Cuz your handler completely farked you over.
 
2020-09-22 6:45:42 PM  

jjorsett: "There is an amazing amount of black talent out there," said Ken Bacon, a former mortgage industry executive who is on the boards of Comcast, Ally Financial and Welltower. "If people say they can't find the talent, they either aren't looking hard enough or don't want to find it."
%
Or it's all working for somebody else because it's scarce and in high demand now because of diversity rules, goals, and laws.


It's a shame white people don't get the same breaks and advantages as black people.
 
2020-09-22 6:51:07 PM  
If you recruit from a pool of applicants that is already racially biased such as Ivy League finance majors and MBA droids, is it really such a shocker diversity in candidates is hard to find?
 
2020-09-22 6:53:47 PM  
There was a thread the other day about dancing garbage men. Someone stated that it was nice to see these men love their work.

This CEO sounds like he could be that person. 'Those black men love those terrible low wage jobs ,it is a shame they hate banking.'

He just can't see that poor people have to work within the bad system and make the best of it.
 
2020-09-22 7:03:19 PM  

sinner4ever: There was a thread the other day about dancing garbage men. Someone stated that it was nice to see these men love their work.

This CEO sounds like he could be that person. 'Those black men love those terrible low wage jobs ,it is a shame they hate banking.'

He just can't see that poor people have to work within the bad system and make the best of it.


Garbage collectors earn more than the average bank teller.

https://money.cnn.com/2016/02/24/news​/​economy/trash-workers-high-pay/
 
2020-09-22 7:15:06 PM  

Snotnose: Anywhoo, I ask this guy my softball question.  And he flails.  Can't even come up with an approach to solving the problem (we're below the string reversal in C here, I haven't gotten to that).  I try to guide him, nada.  I spent my 45 minutes trying to get this kid to at least figure out a way to approach the problem.  Nothing.


I've been there.  And it was a, "take this guy to the conference room for 45 minutes and see how much he knows" thing.  So the last 42 minutes of that were incredibly uncomfortable for both of us.
 
2020-09-22 7:19:39 PM  
I'm surprised WF hasn't just gone ahead and created some Black people who work there.  Fake account execs for their fake accounts.
 
2020-09-22 7:25:37 PM  

AngryDragon: "Wells Fargo's latest proxy disclosed more diversity data than those of many other companies, including that two of 12 directors at the time were black"

Two out of 12 is 17%.  Black people are 13% of the population.

They're over-represented.


I'll bet any amount of money that when we start to start to bin by salary, we'll find that once you get to 75k or so, the black numbers drop off a cliff.

And I'm very sure you know that as well
 
2020-09-22 7:26:00 PM  
Not many black people can afford to be an unpaid intern for a bank
 
2020-09-22 7:30:20 PM  
You don't want talent, you want skills. Skills can be trained. That would mean investing in people, which affects the short-term bottom line, and we can't have that.

One of the best people I worked with was a black lady who faked her way into the job. She was a "developer" who didn't know what a loop was. The only reason she was hired was because the managers were stuffing their headcount for budgetary reasons.

She worked her ass off. Yes, I got tired of constantly asking questions about basic stuff. On the other hand, she was constantly asking questions, reading every link I sent her, then asking more questions. She was there everyday, on time, and I could tell she'd spent the previous evening studying even more. What to me was kind of a blow-off job was the absolute best thing in the world to her.

I was impressed. You know what would've been better, though? If the company had just sent her and a bunch of others to training.
 
2020-09-22 7:31:48 PM  
My Wells fargo experaince, and why I refused to ever do banking with them.

I was out of work, and doing odd jobs to feed myself and pay my rent.  A relative paid me with a Wells Fargo personal check for $15 to pick up her mail and clean her cats litter box.

went to her bank, and the teller wanted to charge me a $5 teller fee to cash the check.  I looked at them and said "If i came in with a $4 check would you taken it and asked me for $1?  if this is how you treat non-customers, why would I ever want to do business with you?"

Walked out and had my parents cash it for me

Felt sorry for the kid

Banks do not want to do Business with poor people, only rich people
 
2020-09-22 7:33:26 PM  

Another one of them varmits: You don't want talent, you want skills. Skills can be trained. That would mean investing in people, which affects the short-term bottom line, and we can't have that.

One of the best people I worked with was a black lady who faked her way into the job. She was a "developer" who didn't know what a loop was. The only reason she was hired was because the managers were stuffing their headcount for budgetary reasons.

She worked her ass off. Yes, I got tired of constantly asking questions about basic stuff. On the other hand, she was constantly asking questions, reading every link I sent her, then asking more questions. She was there everyday, on time, and I could tell she'd spent the previous evening studying even more. What to me was kind of a blow-off job was the absolute best thing in the world to her.

I was impressed. You know what would've been better, though? If the company had just sent her and a bunch of others to training.


Training is expensive....

Some new hires have done 2 weeks of remote training. Every time I've asked them do something that actually relates to their jobs they've never even seen the system. So, sometimes training sucks.

If you want me to think you're brilliant, ask lots of questions but never ask the same one twice
 
2020-09-22 7:35:10 PM  
can happen i worked at a union job place where they had afirmative action and the deal is you get promoted by seniority only(no process to be able to discriminate even if they wanted to). they get all the minorities from the local trade school to come over for coops , as soon as they hear that people start on nightshift and you need to work that for 10 years to get evening then another 5-10 for days or something they never apply. we got 1/100 black. 2 asian. they just don't want those jobs.
 
2020-09-22 7:43:10 PM  
Who is in the basement all day opening checks under fluorescent lights?

Does that count as "working in a bank"?

A friend used to do in house graphics for a big banking chain and was really surprised when he got a trip to that area that is off limits to retail clients.
 
2020-09-22 7:44:09 PM  

kkinnison: My Wells fargo experaince, and why I refused to ever do banking with them.

I was out of work, and doing odd jobs to feed myself and pay my rent.  A relative paid me with a Wells Fargo personal check for $15 to pick up her mail and clean her cats litter box.

went to her bank, and the teller wanted to charge me a $5 teller fee to cash the check.  I looked at them and said "If i came in with a $4 check would you taken it and asked me for $1?  if this is how you treat non-customers, why would I ever want to do business with you?"

Walked out and had my parents cash it for me

Felt sorry for the kid

Banks do not want to do Business with poor people, only rich people


That isn't true.  Banks love doing business with poor people.


Overdraft fees make up a huge amount of bank revenue
 
2020-09-22 8:00:03 PM  

AngryDragon: "Wells Fargo's latest proxy disclosed more diversity data than those of many other companies, including that two of 12 directors at the time were black"

Two out of 12 is 17%.  Black people are 13% of the population.

They're over-represented.


Somebody's getting their hours cut back
 
2020-09-22 8:21:38 PM  

Gubbo: I'll bet any amount of money that when we start to start to bin by salary, we'll find that once you get to 75k or so, the black numbers drop off a cliff.

And I'm very sure you know that as well


I'm pretty sure that nobody on the board of directors is making less than $75k.
 
2020-09-22 8:40:56 PM  
Can't find recruits with the skills you need?  I have four words for you!  On The Job Training!

/yeah I know it's a dead concept and no will do it .
// problem is companies are no longer loyal to employees  and so they are not loyal to the company.
 
2020-09-22 8:58:45 PM  
The movie version of the corporate beginner job is in the mail room.  At Wells Fargo, it's in the money laundry.
 
2020-09-22 9:19:36 PM  
Fifty years ago, a banking career was desirable. Maybe even a little cool. Now, not so much. The industry has gone through big changes and nobody goes to the bank any more.

Hollywood and the TV industry made banking kinda cool back in the day. Wells Fargo should hire Sam Jackson to do a movie where's he's the bank manager by day and a superhero at night. The you'd get some people lining up for those crappy jobs.
 
2020-09-22 10:45:02 PM  

phishrace: Fifty years ago, a banking career was desirable. Maybe even a little cool. Now, not so much. The industry has gone through big changes and nobody goes to the bank any more.

Hollywood and the TV industry made banking kinda cool back in the day. Wells Fargo should hire Sam Jackson to do a movie where's he's the bank manager by day and a superhero at night. The you'd get some people lining up for those crappy jobs.


I dunno, I went to the bank the other day and stood in line (by myself) for 10 minutes because there was one damned cashier and she was having a great time socializing with the customer she was working with.  While the other cashiers ran around looking important.

Until I finally threw my hands in the air and started walking out, when a second cashier decided to open.

Seems to me they could hire a few more people when that shiat happens.  Or I dunno, just not be idiots.
 
2020-09-22 11:44:39 PM  

bluewave69: can happen i worked at a union job place where they had afirmative action and the deal is you get promoted by seniority only(no process to be able to discriminate even if they wanted to). they get all the minorities from the local trade school to come over for coops , as soon as they hear that people start on nightshift and you need to work that for 10 years to get evening then another 5-10 for days or something they never apply. we got 1/100 black. 2 asian. they just don't want those jobs.


I worked for a utility in a very liberal State.  They wanted minorities as much as possible, so they could tell the State how good they were and use the PR.  They would hire any minority that met the minimum training standards.  and, passed the drug tests.  and not have a criminal record.  and we were Union, so just seniority for promotions.  We hired almost no minorities, because if they could meet our requirements, they would be offered much higher pay because of affirmative action some were else.  We couldn't pay more, because of union rules.  On the other hand, we had many women come in and do well.
 
2020-09-23 5:55:14 AM  
Other than two bank checks needed for mortgage closings, I haven't been in a bank in person for 15 years.
 
2020-09-23 7:48:24 AM  

bfh0417: Other than two bank checks needed for mortgage closings, I haven't been in a bank in person for 15 years.


Small businesses tend to be the ones making daily bank or near daily bank trips. For the general public, visiting the bank is as anachronistic as mailing off checks for utilities.

That said, as cash use plummets, even that may fall off.
 
2020-09-23 1:12:00 PM  

We Ate the Necco Wafers: AngryDragon: "Wells Fargo's latest proxy disclosed more diversity data than those of many other companies, including that two of 12 directors at the time were black"

Two out of 12 is 17%.  Black people are 13% of the population.

They're over-represented.

Maybe they should measure the board of directors by weight. Make those black directors lose some weight to bring the representations back to normal.


I think he's suggesting cutting the black people into sections until you get the right percentage.
 
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