The Big Merger

Unless you have been living in a hole the last two weeks, you should know that Wachovia Securities and A.G. Edwards will be merging later this year. I guess I have lots of mixed emotions about it. First of all, it is really sad to see a company with such a rich tradition and excellent reputation disappear. A.G. Edwards has been around for 120 years and until recently was always run by a member of the Edwards family. The first non-family member to run the company was Bob Bagby, who took over in 2001. While Bob was very adamant to the employees about our desire to stay an independent company, it seems that behind the scenes he was pulling a Nick Saban on all of us, preparing the company to be bought. While I and a majority of the AG Edwards advisors hope he rots in hell for destroying our nice company, I guess there are some positives to being the second largest brokerage firm in the US.

So, I have decided to stop bitching and whining about it, as I have most of the last 10 days. I had a very good lunch conversation yesterday with Mr. Hickman that gave me some different perspective on the subject. I also had another good conversation with Joel Brookman around 4pm yesterday that have led me to be more positive. I mean...what can I really do at this point? I could complain about how unfair it is...how "big business" is ruining the small companies...bla bla bla. But what would this really accomplish? The deal is done and the changes are going to take place regardless of my view on the subject. I might as well be positive and look on the bright side. I can't control what happens day-to-day in the stock market so why is this any different? Life goes on and I guess I need to be positive about the bright future ahead.

I would however like to take a five minute break from that bright future one day to hold Bob Bagby's head underwater. Five minutes is all it would take and I think I would feel much better...