Ameritrade Business News

ScrattyB · Post by **ScrattyB** » Mon Dec 02, 2019 2:48 pm

damonhynes wrote: Mon Dec 02, 2019 2:13 pm
Coyote wrote: Sat Nov 30, 2019 8:18 pm Schwab merger agreement includes language sought by Joe Ricketts intended to protect Omaha jobs

Post-Closing Integration. Parent commits in good faith to seek to maintain, from the Closing Date through the second anniversary of the Closing Date, a level of employment in Nebraska comparable to the Company’s level of employment in Nebraska at the Closing Date, taking into account voluntary attrition and transaction-related integration plans.

There are so many CYAs and loopholes in that statement so as to make it worthless.

That's exactly how I read it. "I'm not the bad guy!"

bigredmed1 · Post by **bigredmed1** » Mon Dec 02, 2019 8:34 pm

ScrattyB wrote: Mon Dec 02, 2019 2:48 pm
damonhynes wrote: Mon Dec 02, 2019 2:13 pm
Coyote wrote: Sat Nov 30, 2019 8:18 pm Schwab merger agreement includes language sought by Joe Ricketts intended to protect Omaha jobs

Post-Closing Integration. Parent commits in good faith to seek to maintain, from the Closing Date through the second anniversary of the Closing Date, a level of employment in Nebraska comparable to the Company’s level of employment in Nebraska at the Closing Date, taking into account voluntary attrition and transaction-related integration plans.

There are so many CYAs and loopholes in that statement so as to make it worthless.
That's exactly how I read it. "I'm not the bad guy!"

Yup. This means nothing at all. Basically a good reason to burn the Ricketts out of Nebraska, rename the baseball stadium to be the Taxpaying Serfs of Omaha stadium. and overturn these "job growth" bills that the legislature passes to make their friends rich.

ScrattyB · Post by **ScrattyB** » Tue Dec 03, 2019 7:15 pm

I hope everybody that is upset is closing out their Schwab and/or TD accounts.

damonhynes · Post by **damonhynes** » Tue Dec 03, 2019 9:04 pm

ScrattyB wrote: Tue Dec 03, 2019 7:15 pm I hope everybody that is upset is closing out their Schwab and/or TD accounts.

When they paid me to go away in 2015, my first stop was Fidelity.

bigredmed1 · Post by **bigredmed1** » Wed Dec 04, 2019 3:24 am

ScrattyB wrote: Tue Dec 03, 2019 7:15 pm I hope everybody that is upset is closing out their Schwab and/or TD accounts.

Fortunately, I never used either

OmahaFan · Post by **OmahaFan** » Sat Dec 07, 2019 6:09 am

I never had either accounts that I know of

OmahaFan · Post by **OmahaFan** » Sat Dec 07, 2019 6:11 am

Now I have noticed that Amazon is still looking for a HQ 2 location and i recently read in the news they are opening a office in NYC with 1,500 workers not 25,000 like they wanted. Maybe the City of Omaha and the local business community can pitch to Amazon about giving us some of those high tech jobs?

Cermak · Post by **Cermak** » Fri Jan 03, 2020 4:05 am

I’m in San Diego right now, the midrise white building in the middle says TD Ameritrade on it.

I suspect we will see signage changes at some point. But nothing yet.

Post by **nebugeater** » Fri Jan 03, 2020 3:22 pm

Cermak wrote: Fri Jan 03, 2020 4:05 am I’m in San Diego right now, the midrise white building in the middle says TD Ameritrade on it.

I suspect we will see signage changes at some point. But nothing yet.

the merger/acquisition hasn't even gone up for regulatory approval yet so it will be a while.

GoBigRed79 · Post by **GoBigRed79** » Tue May 19, 2020 2:47 am

Surprised this has not been in the news yet. It was announced today that TD Ameritrade cracked the Fortune 500 for the first time at #486. So for a short time Omaha has another Fortune 500 HQ.

https://fortune.com/fortune500/

skinzfan23 · Post by **skinzfan23** » Tue May 19, 2020 2:43 pm

Good find, back to 5 Fortune 500 companies in Omaha for a short time.

Post by **Omaha Cowboy** » Thu Oct 01, 2020 6:40 pm

From today’s W-H-

“Charles Schwab's acquisition of Omaha-based TD Ameritrade has been granted final approval by federal regulators, but it will be months before it's known how the merger will affect more than 2,000 employees here in Nebraska.

The two firms were notified Wednesday that the merger has been approved by the board of the Federal Reserve. The corporate marriage will become final Tuesday.

Schwab officials said in a release it will still take 18 to 36 months to fully integrate the two companies. Until then, the companies will continue to operate as independent brokerages.

Neither company has offered much hint as to what the merger will ultimately mean to TD Ameritrade's Omaha operations, including its high-profile, high-rise headquarters complex near West Dodge Road and Interstate 680.“..

The complete W-H story link:

https://omaha.com/business/local/td-ame ... op-story-1

Ciao..LiO...Peace

damonhynes · Post by **damonhynes** » Fri Oct 02, 2020 3:48 pm

Omaha Cowboy wrote: Thu Oct 01, 2020 6:40 pm
Neither company has offered much hint as to what the merger will ultimately mean to TD Ameritrade's Omaha operations, including its high-profile, high-rise headquarters complex near West Dodge Road and Interstate 680.“..

The complete W-H story link:

https://omaha.com/business/local/td-ame ... op-story-1

Ciao..LiO...Peace

I said five years ago that they'd have a hard time unloading that jernt, because it tried to be three types of facility and did none of them well.

And that was before COVID and remote workforce. They're stuck with it, rather the building owner is.

The only way they stay is if Ricketts/Stothert come up with honkin' incentives.

I've driven by Chuck's Fort Worth campus and it's huge. AMTD's facility is nothing to sneeze at, either. And since they have the same overbuilt-remote paradigm, Schwab has a problem.

Cermak · Post by **Cermak** » Fri Oct 02, 2020 11:13 pm

Hopefully they will leave something in Omaha. Not everyone wants to live in huge Mega-cities like the Dallas metroplex. Especially with more people working remotely. The TD headquarters is still relatively new and I’m sure its a excellent Class A office facility.

OmahaJaysCU · Post by **OmahaJaysCU** » Mon Oct 05, 2020 11:26 pm

Rumor I heard is Omaha might end up with more jobs when it’s all said and done. This was from someone pretty well connected in in chamber circles. Fingers crossed that has legs.

NEDodger · Post by **NEDodger** » Tue Oct 06, 2020 3:10 am

OmahaJaysCU wrote: Mon Oct 05, 2020 11:26 pm Rumor I heard is Omaha might end up with more jobs when it’s all said and done. This was from someone pretty well connected in in chamber circles. Fingers crossed that has legs.

Joe Ricketts came out and said that. I'm not sure exactly how that would occur, but I found it extremely foolish of him to make that prediction - hot on the heels of all of these employees finding out about the buyout, you're going to give potentially false hope that there will be MORE jobs? Better to keep your mouth shut and if it happens, great.

OmahaJaysCU · Post by **OmahaJaysCU** » Tue Oct 06, 2020 3:56 am

Maybe I should clarify, I was told that rumor by someone who would know. This was two weeks ago.

NEDodger · Post by **NEDodger** » Tue Oct 06, 2020 4:13 am

Got it. I hope so. Maybe some of the San Francisco people get offers to transfer? I just hope that, at a minimum, the employment maintains.

Post by **Omaha Cowboy** » Tue Oct 06, 2020 12:24 pm

OmahaJaysCU wrote: Tue Oct 06, 2020 3:56 am Maybe I should clarify, I was told that rumor by someone who would know. This was two weeks ago.

In any case, I agree.. Keeping my fingers crossed

this rumor becomes true...

Ciao..LiO...Peace

Post by **BRoss** » Wed Oct 07, 2020 7:06 pm

I doubt there will be massive job loses. Schwab is already geographicly dispersed and they are looking for good talent.

damonhynes · Post by **damonhynes** » Mon Oct 26, 2020 6:57 pm

Layoffs are occurring today. Same severance as when I got bum-rushed in 2015; three weeks paid for every year worked.

Post by **nebugeater** » Mon Oct 26, 2020 7:31 pm

damonhynes wrote: Mon Oct 26, 2020 6:57 pm Layoffs are occurring today. Same severance as when I got bum-rushed in 2015; three weeks paid for every year worked.

Any idea on the number of people

GoBigRed79 · Post by **GoBigRed79** » Mon Oct 26, 2020 8:29 pm

1000 company wide across locations. Not sure how many in Omaha.

damonhynes · Post by **damonhynes** » Tue Oct 27, 2020 1:24 am

In previous layoffs, you got a tap on your shoulder. Today, the chosen few got a phone call. Not saying one is better than another, though.

PWL73316 · Post by **PWL73316** » Thu Mar 04, 2021 6:29 pm

Potentially different forum topic but I have it through a reliable grapevine that Schwab/TD is about to hire a ton of people in Omaha. Like an open semi-secret at this point.

Cost of living is so much lower here, you can get much better quality CS reps and related jobs for the same or lower pay.

skinzfan23 · Post by **skinzfan23** » Thu Jul 01, 2021 2:56 pm

Schwab's new hires would make Omaha workforce larger than TD Ameritrade's

More than 18 months after the gut-punch announcement that homegrown brokerage firm TD Ameritrade was being acquired by Charles Schwab, the combined company has almost the same number of Omaha workers — and it soon will have even more.

Schwab announced Thursday it’s in the process of adding more than 200 jobs in Omaha, building on the workforce of 2,200 the company says is currently based here.

damonhynes · Post by **damonhynes** » Thu Jul 01, 2021 5:30 pm

skinzfan23 wrote: Thu Jul 01, 2021 2:56 pm Schwab's new hires would make Omaha workforce larger than TD Ameritrade's

More than 18 months after the gut-punch announcement that homegrown brokerage firm TD Ameritrade was being acquired by Charles Schwab, the combined company has almost the same number of Omaha workers — and it soon will have even more.

Schwab announced Thursday it’s in the process of adding more than 200 jobs in Omaha, building on the workforce of 2,200 the company says is currently based here.

I'm happy to be proven wrong.

riceweb · Post by **riceweb** » Thu Jul 01, 2021 6:38 pm

damonhynes wrote: Thu Jul 01, 2021 5:30 pm
skinzfan23 wrote: Thu Jul 01, 2021 2:56 pm Schwab's new hires would make Omaha workforce larger than TD Ameritrade's

More than 18 months after the gut-punch announcement that homegrown brokerage firm TD Ameritrade was being acquired by Charles Schwab, the combined company has almost the same number of Omaha workers — and it soon will have even more.

Schwab announced Thursday it’s in the process of adding more than 200 jobs in Omaha, building on the workforce of 2,200 the company says is currently based here.

I'm happy to be proven wrong.

I'm always skeptical of this happening, because it seems like everytime there's a chance of it happening, it never actually happens, tut There may actually be some serious momentum toward LCOL areas. Tech-company Dropbox is specifically hiring only in LCOL areas right now: https://www.teamblind.com/post/Weve-bee ... s-6RduTacB This is a far cry from where they were a year ago, when they were one of the higher-paying tech companies

bigredmed1 · Post by **bigredmed1** » Sat Jul 03, 2021 5:18 pm

It’s not a bad plan. Think about Meadowlane park. Houses are a few hundred k. Your kids have good school options and you could literally walk to work at TDAmeritrade. For the salary range they can afford to pay, their hires could realistically get a sweet life and thus be long term workers. The market is not infinite. You can only generate so much commission as a stock broker. In Omaha, you are set for life. In Austin, you struggle. Want to keep brokers so they develop client lists? Move to Omaha.

Bob from Omaha · Post by **Bob from Omaha** » Mon Aug 02, 2021 10:50 pm

Cuts continue:

Schwab cuts

ita · Post by **ita** » Fri Mar 18, 2022 8:09 pm

Charles Schwab jobs in Omaha now exceed number under TD Ameritrade

Henry Cordes
More than two years after Charles Schwab’s blockbuster acquisition of TD Ameritrade, the merged company employs more workers in Omaha than Ameritrade did, and it’s looking to hire hundreds more, Schwab’s CEO said during a visit to Omaha.

“We are very committed to Omaha,” Walt Bettinger said in an exclusive interview, the first he’s given locally since the merger of the brokerage giants was announced in November 2019. “It’s a great location. The quality of the talent here is outstanding.”

Bettinger put the combined company’s current workforce in Omaha at about 2,400.

For comparison, TD Ameritrade reported it had roughly 2,300 workers in the city several weeks before the merger announcement. Schwab says a head count taken in the month after the announcement showed 2,060 Ameritrade workers in Omaha. Based on either figure, Schwab is now employing more people here.

That number could grow to 2,700 if Schwab is able to fill 300 currently open positions in Omaha. The new jobs are driven by the combined company’s continued growth, as it has added millions of new customer accounts and $650 billion in investment assets since the deal closed in 2020.
...
Schwab has not applied to receive the incentives, and apparently does not intend to. Bettinger said it’s Schwab’s philosophy to make job-siting decisions based on how best to serve customers for the long term.

skinzfan23 · Post by **skinzfan23** » Fri Mar 18, 2022 10:07 pm

That is great news, I think a lot of people worried after the acquisition, but to keep and even add to the number of employees is awesome.

Athomsfere · Post by **Athomsfere** » Mon Mar 21, 2022 2:38 pm

skinzfan23 wrote: Fri Mar 18, 2022 10:07 pm That is great news, I think a lot of people worried after the acquisition, but to keep and even add to the number of employees is awesome.

I know I did. In the tech sector they do a pretty good job of helping us all out, being a big name with a good stack.

I'm still nervous of it all of course. I've been in the corporate world long enough to know that anything could change at anytime for any reason.

Post by **Brad** » Mon May 01, 2023 6:16 pm

Signs change underway:

IMG_4258.jpeg

skinzfan23 · Post by **skinzfan23** » Mon May 01, 2023 6:35 pm

Wondering when that was going to happen.

thenewguy · Post by **thenewguy** » Tue May 02, 2023 12:10 am

I'm glad Chwab is keeping it local.

damonhynes · Post by **damonhynes** » Tue May 02, 2023 12:19 am

thenewguy wrote: Tue May 02, 2023 12:10 am I'm glad Chwab is keeping it local.

:-)

Post by **Brad** » Wed May 03, 2023 2:05 pm

thenewguy wrote: Tue May 02, 2023 12:10 am I'm glad Chwab is keeping it local.

The past two days its been "SSCHWB"

Post by **Brad** » Thu May 04, 2023 1:49 pm

At some point they finished up the sign on the north side last night.

ChadJK · Post by **ChadJK** » Thu May 04, 2023 3:12 pm

I like how "SCHWAB" is uppercase, but "charles" is lowercase. That tells me they take care of business but with a personal touch.