After Bailout Deal, Financial Brands Twist In The Wind
Congress may have taken only a few days to successfully hammer out the details of its $700 million bailout plan, but some experts say battered financial brands will have to wait a lot longer before consumers begin to trust them again....
Two brands that seem to be doing well so far are Bank of America, which acquired troubled Merrill Lynch, and Wells Fargo...
YouGovPolimetrix's BrandIndex, a research company that tracks the perception of leading consumer brands, says that for September, while most financial companies had a "buzz" measurement of around zero-which means there was just as much negative perception as positive -- Bank of America's score jumped 565% from 2.6 to 17.3 earlier this week. And Wells Fargo went from a 0.8 score to 7.2 earlier this week, a gain of 890%. Not surprisingly, the brands that dominated the "Wall Street debacle" headlines -- Goldman Sachs, Morgan Stanley, and Merrill Lynch -- were all regarded as extremely negative.
