Just announced cnbc.

-- none (none@none.com), December 21, 1999

Answers

NOT LIKELY! A WHOLE lot more likely is that the bank, which has been in some low-grade trouble (like a low grade fever) has decided to "fix" the problem by removing the chief, completing the sale of its credit card assets, spinning this or that off and merging with someone else in a while.

Chuck

-- Chuck, a night driver (rienzoo@en.com), December 21, 1999.

Nothing to do with Y2k. Banc One's credit card business has been hurting and the merger with First Chicago has been challenging.

-- dude (dude@dude.com), December 21, 1999.

John McCoy resigned?

-- Deb M. (vmcclell@columbus.rr.com), December 21, 1999.

John didn't resign, he Retired effective immediately.

-- Squid (ItsDark@down.here), December 21, 1999.

I wonder if there will be more reprocussions (sp?) for Bank One employees here in Central Ohio? Larger corporate restructuring in the future? (Somehow I doubt it though - have you seen the addition they're building in Polaris???)

-- Deb M. (vmcclell@columbus.rr.com), December 21, 1999.

Deb M.,

Yeah, I saw the complex at Polaris. BankOne is getting too big for its britches, I'm afraid. They're not the semi-decent folk that they were even five years ago -- buying up Diamond Savings changed them for the worst, I fear. I don't have confidence in their IT department, either -- too many glitches lately for too late in the year.

This is a shame to me -- I've know some good managers and loan officers in this institution who seem to be getting a bum deal with the merger: two I know have jumped ship and are now working at Huntington and 5/3.

-- (ladybuckeye_59@yahoo.com), December 21, 1999.

Deb, This is probably bad news for the locals. John McCoy was central Ohio's last tie to the new BankOne. The job cuts will be larger here and smaller in Chicago. On any major merger after 6 months to a year a clear "winner" usually appears and takes control. Huntington can probably pick and choose employees.

-- Squid (ItsDark@down.here), December 22, 1999.

L.B. & Squid,

Hello! I used to work for Bank One a few years back in their Credit Card Verification dept. - I understand and agree about their I.T. dept. being a mess. L.B. - Do you remember when they had Anderson Consultants in to do an upgrade (I forget it's name...), and 4 YEARS later they were no farther along than when they'd started!?

One of the best days of my life was when I left Bank One. I took a paycut, but my quality of life became MUCH better! (One year I worked EVERY holiday except Labor Day...) I sympathize for those still working for them, I'd certainly be nervous.

-- Deb M. (vmcclell@columbus.rr.com), December 22, 1999.

You did the smart thing, Deb! I'm not an "insider," in banking, but I know some insiders, and when the glass ceiling gets an extra layer of Lexon and lower tier employees start pulling too many weekends, it's time to move on if one wants to move up.

Unfortunately, I don't have a lot of confidence in any of our local banks, esp. with respect to Y2K. However, I'm wondering about the true reason behind 1st National moving their main office to Zanesville -- I can see the tax benefits -- but I wonder if anyone in management is a GI ... I'm told that the main Zanesville office does have a generator, but I haven't been out there to check that out for myself. If so, they may be one of the surviving institutions in our area.

-- (ladybuckeye_59@yahoo.com), December 22, 1999.

L.B.,

I don't know either (about 1st Nat.) - Zanesville could be worse though... I've been thinking of buying some land out that way 'cuz land prices here are outrageous.

Btw, check out the Dispatch this morning - McCoy & Bank One are on the front page. Looks like Polaris is still a go...

-- Deb M. (vmcclell@columbus.rr.com), December 22, 1999.

Also check out land up in Morrow CO. (north of Col., SE of Marion) -- zoning is LAX and it's still possible to put up a trailer on its own land without raising eyebrows. The land is pure clay, but some types of potatoes and the short type of carrots will grow well with a little coaxing. Downside: extremely rural and the possibilities for telecommuting are limited, unless you put up a dish and use something like your present Road Runner service, or you can work from home. The water table is also fairly high, which means flooding, but it also means that it costs less to drill a well. We chose to stay in Columbus since we feel the recession/depression is a bigger worry than civil unrest, and both of us can work in several different areas, but neither of us would last long economically in a rural area.

Good Luck and happy hunting!

-- (ladybuckeye_59@yahoo.com), December 22, 1999.

Yep. you get a winner and a loser. MY clients seemed to think that Bank One was the winner, but....

Like with Key/Society. the NAME came from KEY but the mgt came from SOCIETY (a few of the relo'd Key people STILL refer to the Society Mafia.... LOL)

C

-- Chuck, a night driver (rienzoo@en.com), December 22, 1999.

Chuck,

Maybe John McCoy's retirement will be short-lived. Isn't Key-Society up your way looking for a new Pres? Or did I mishear that? Entirely possible ... there's too much to keep track of right now.

In any case, now is not a good time to have any significant money in any bank, methinks -- just enough to pay bills because paying in cash attracts attention around here. I'd rather not attract attention. (:

-- (ladybuckeye_59@yahoo.com), December 22, 1999.