By PETER HUSSMANN
Wells Fargo, the giant home lender tied to the faulty foreclosures being investigated by attorneys general in all 50 states, led by Iowa Attorney General Tom Miller, has hooked up with the Gallup Poll to find out how borrowers would rate the company's compassion level.
The Gallup Poll is conducting a survey tonight of individuals recently contacted by Wells Fargo representatives in regard to outstanding loans that touches not only on the company's compassion for those finding it difficult to pay the bills, but their professionalism, ability to provide adequate information and the quality of the services they offer.
The five-minute survey touches on a number of similar topics and asks respondents to rate the company on a 1 to 5 scale, with number 5 being the highest rating.
It appears the San Francisco-based company is moving toward that number 5 ranking when it comes to profits for its shareholders. Net income at the end of the second quarter was $3.06 billion, up 20 percent.
Gallup's surveying on election night is likely well thought out. As the nation attempts to identify a direction to follow in light of the national recession that has seen only limited job growth, calls to homeowners and Wells Fargo borrowers from the renowned polling firm likely takes caller ID viewers off guard. To its credit, Gallup says it will not release individual information about the survey back to Wells Fargo.
And apparently Gallup and Wells Fargo have a steady relationship. A recent poll done by the firm on behalf of Wells Fargo shows that nearly half of small business owners nationwide now never plan to retire because of the economic downturn.
It's nice to know that Wells Fargo is working to improve its consideration of our well being. We should all sleep so much better.