Leadpile’s Blog

I have an update on an earlier post discussing Citigroup taking over the failed Wachovia Bank. However, there is a new twist in this situation. A announcement was now made stating Wells Fargo & Company has purchased Wachovia Bank for a $15.1 billion all stock deal! Citigroup had agreed previously to purchase Wachovia for $2.1 billion, in addition to receiving some government assistance with the transaction. According to Business Week, the shareholders and regulators are now going to have to decide the future of the bank. It appears that the Wells Fargo deal will least likely affect taxpayers, and this could be more attractive to those that will be ultimately be making the decision on the future of Wachovia Bank. We shall all see how it works out……..

In light of what is going on the economy, direct mail credit card offers have continued to see a decline. According to DMNews, direct mail production has been continuing to fall since the 3rd quarter of 2007. Now things are probably getting worse for those issuing the credit cards, because of the tighter belt on lending guidelines. With costs high to do direct mail campaigns, and the inability to lend to as many people as they want, credit card issuers are having to face the idea of either cutting back, or looking at other options to generate business.
Leadpile Lead Exchange works with a lot of lead types relating to the financial industry, however generating credit card leads is not something we have had a recent demand for. Is this maybe something that will now change, as advertisers look for more cost effective ways to generate business? We certainly can look at generating this lead type if we have a high enough demand. However, maybe consumers overall will shy away from even applying for a credit card. I believe the payday loan industry will continue to strive to be the go-to lender consumers lean towards. Trying to get qualified for a “standard” credit card or loan, is going to be harder and harder these days to get.

I could not believe my eyes when I saw this article on Yahoo. According to the Associated Press, a Michigan home sold to a women for $1.75 on Ebay. There were 8 others that had a bid on this home, however this Chicago women won out with her under $2.00 bid. It appears there is some work to be done on the home and some back taxes, however no matter how you look at it, it is a GREAT deal.
The sad thing in all this is that someone lived in this home and unfortunately lost their home. The women that purchased the home has not even seen the home, and has no intentions on living there. With what is happening in today’s economy, this is bound to be happening more. At one point or another hopefully Ebay will be more known for it’s bid environment on products, not homes. Time shall tell.
Leadpile Lead Exchange is also a bid environment where we match the buyers and sellers of leads. Fortunately, we will not be matching up someone who lost their home to a buyer for $1.75.