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The Wells: American Council
built 283 days ago
Before and after the acquisition, Reichardt and Hazen aggressively cut costs and eliminated unprofitable portions of Wells Fargo's business. During the three years before the acquisition, Wells Fargo sold its realty-services subsidiary, its residential-mortgage service operation, and its corporate trust and agency businesses. Over 70 domestic bank branches and 15 foreign branches were ... closed during this period. In 1987, Wells Fargo set aside large reserves to cover potential losses on its Latin American loans, most notably to Brazil and Mexico. This caused its net income to drop sharply, but by mid-1989 the bank had sold or written off all of its medium- and long-term Third World debt.
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Wells Scholars ... have the option of enrolling in other specially designed courses taught by distinguished campus visitors, as well as by IU faculty. Among the offerings have been courses on power, politics, and ethics with South African political leader, the Honorable Helen Suzman; on the literary exchanges between Europe and the United States with British writer Sir Malcolm Bradbury; on the beautiful and the sublime with then IU President Myles Brand and Professor of Philosophy Peg Brand; on the interpretation of culture with anthropologist Clifford Geertz; on heroes, history, and leaders with Kenneth Gros Louis, chancellor of the Bloomington campus; on mind games with New York Times crossword editor Will Shortz; on the theater of conscience with South African playwright Athol Fugard; on public ethics with IU Dean for International Programs Patrick O'Meara; on the involvement of ordinary people in extraordinary evil with Holocaust scholar Christopher Browning and then Bloomington Chancellor Sharon Brehm; on international security issues in the 21st century with British international security expert Lord Timothy Garden and David Albright, senior fellow at the IU Center for the Study of Global Change; and on contemporary art that challenges us with celebrated American artist Robert Colescott.
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A report released on May 25 of this year by the American Council on Education confirms the importance of the leadership role Wells has taken. This extensive study revealed that 71% of those surveyed, a pool representing families with members in college or selecting a college, believe higher education is too expensive.
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When Alexander Wells died in 1813 as a 2[N]d or perhaps 3rd generation North American, his family roots in the continent had been established for more than a century and possibly for as much as a century and a half. He would appear, based on his property holdings and family position, to have achieved a revolutionary war version of what we late 20th century Americans sometimes refer to as the "American Dream." By the standards of the late 18th and early 19th centuries, he and his family had access to considerable material wealth and had obtained a position of respect within the community.
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At Wells Fargo for all types of mortgage loans, African Americans are 3.19 times more like to receive a rate spread loan than white borrowers. As we’ve noted, Wells Fargo is ... a major funder of payday lenders, including targeters of military personnel such as Armed Forces Loans, Inc.. ICP has raised this directly to Wells Fargo, and to the Federal Reserve on Wells’ proposal to acquire First Community Capital Corp., which was announced back on September 2, was challenged by ICP on November 1, and which still remains pending, more than five months later. ICP has now put in a supplemental comment.
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Wells Center research programs have achieved national recognition. The research endeavors of the faculty have led to an outstanding record with respect to attaining peer-reviewed, external research funding, including funding from the National Institutes of Health (NIH), the National Cancer Institute (NCI), the American Heart Association, and the Department of Defense. In 2003, the Department of Pediatrics ranked #17 nationally for NIH funding to pediatric departments.
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