Corporate Predators - Carrie Toldstedt of Wells Fargo Artwork

Office Detox Podcast

Office Detox is a show about business. Just like any great story, business is a battleground. The quote from Edmond Burke is very relevant here: “The only thing necessary for the triumph of evil is for good men to do nothing.” If we, who are basically trying to just make a living and do more good than harm are too passive, the rest – predators, narcissists and more are going to take over the place. All of the things that we love about business will vanish, leaving the thieves and conmen. It may be too late already – but call me an optimist? I’m going to try. And there is so much to love. In business, you can create your life. You are not in the safety of a lab or an educational institution. You are out in the real world – creating things that other people need. Ruled by the invisible hand of economics. Throughout the series, we are taking a look at the different factors, some of which were part of commerce and trade since it started, and others that have joined us more recently. Welcome to Office Detox - I’m your host, Stefania Sigurdson Forbes. If I didn’t love business, I wound not be doing this. But – there is a big gap between where business is, and where it could be. So my friends, let’s get started. And say hey business… we can do better.

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Office Detox Podcast

Corporate Predators - Carrie Toldstedt of Wells Fargo

May 07, 2019 • Stefania Sigurdson Forbes • Season 1 • Episode 1

Have you ever encountered a corporate predator? One thing is that predators can be very charming at first. They draw you in. If you are someone who relies on “vibes” when it comes to people and a predator can overcome that. They have learned a way to appear like a nice person who helps out. Brain scans of sociopaths, with emotional stimuli, says it goes to the analytical side of their brain, rather than just reacting like the rest of us.

In this episode, we look at how Carrie Toldstedt went from a Most Successful Woman to a corporate predator. We will discuss how she went from the head of Well's Fargo and #27 on Fortune's Most Powerful Women to being in charge of a division that gave 2 million, mostly unauthorized accounts for their customers and eventually forced to give back 67 million dollars.

We weave in personal stories, and at the end, we give tips on how to handle corporate predators in your life.

Books

Sociopath Next Door by Martha Stout
Dangerous Personalities by Joe Navarro - this includes the predator "checklist"

Research

https://money.cnn.com/2018/02/27/investing/wells-fargo-sacramento-lawsuit-discriminatory-lending/index.html

https://prospect.org/article/wells-fargo-gets-what-it-deserves-and-just-time

https://en.wikipedia.org/wiki/Wells_Fargo_account_fraud_scandal

https://en.wikipedia.org/wiki/Carrie_Tolstedt

https://www.theguardian.com/commentisfree/2016/oct/14/john-stumpf-retirement-wells-fargo-ceo-jail-time

https://www.cnbc.com/2017/04/10/wells-fargo-board-slams-stumpf-and-tolstedt-claws-back-millions.html

https://www.vanityfair.com/news/2017/05/wells-fargo-corporate-culture-fraud

https://www.gsb.stanford.edu/sites/gsb/files/publication-pdf/cgri-closer-look-62-wells-fargo-cross-selling-scandal.pdf

https://www.latimes.com/business/la-fi-wells-fargo-sale-pressure-20131222-story.html

https://www08.wellsfargomedia.com/assets/pdf/about/investor-relations/presentations/2017/board-report.pdf

https://www.govinfo.gov/content/pkg/CHRG-114shrg23001/pdf/CHRG-114shrg23001.pdf

Music

Chris Zabriskie
A New Day in a New Sector
The Oceans Continue to Rise
Stories About a World that Once Was

Kai Engle
October
November
Smoldering

Kevin MacLeod
Fearless First

Music above is used under an Attribution License - http://creativecommons.org/licenses/by/4.0/

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