© 2020 WFAE
90.7 Charlotte 93.7 Southern Pines 90.3 Hickory 106.1 Laurinburg
Play Live Radio
Next Up:
0:00
0:00
Available On Air Stations
Local News

Analysts Predict Difficult Job Ahead for Wachovia's New CEO

http://66.225.205.104/SG20080711.mp3

Today is the second day on the job for new Wachovia CEO Robert Steel. As the company's stock price continues to suffer as a result of bad mortgages acquired as part of Golden West Financial two years ago, analysts say Steel has a difficult job ahead in returning the company to profitability. WFAE's Scott Graf spoke with one of those analysts, Robert Patten of investment company Morgan Keegan. Scott began by asking what advice the analyst would offer Robert Steel.