City April 17, 2009 4:59 PM

Bob Wilmers: Good for M&T, Good for Buffalo

Bob Wilmers: Good for M&T, Good for Buffalo
At a time when banks are tanking, Bob Wilmers has helped M&T Bank (MTB) look very good.  By virtue of the fact that Buffalo houses M&T corporate headquarters, it's a nice reflection on Buffalo as well.

This Fortune Magazine article on CNNmoney.com pays high compliment to Wilmers as a savvy and strong CEO, with 25 years invested in M&T, who has mastered his ship well through an economic storm that affected everyone on some level.  Still, Wilmers isn't ready to take credit for success only in terms of non-failure.  As one can learn from the Fortune article, any early mistakes brought valuable lessons, and Wilmers has lent that knowledge in turn to the New York Federal Reserve, mainly in terms of what Wilmers and his executives have learned about borrowers.

With a community approach toward banking, Wilmers has formed good working relationships among his bankers and, through them, with the public they serve.  That's pretty down to earth for a man who rides so high.  

Image: From skyscrapercity.com



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Nice,

Too bad they had to throw in the same tired Buffalo stereotypes of Beer Cold and Sports

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M&T's support and participation in local institutions is admirable, and Wilmers' stweardship has been steady at the helm. It's too bad that the article starts off with a Buffalo weather cliche, but by suggesting that M&T's values are Buffalo values, Fortune does Buffalo a favor where Forbes' insipid lists sought only to exploit unfortunate misperceptions. Bottom line: in an industry that was losing value and confidence at unprecedented levels, M&T managed not only to keep its head above water, but to still remain profitable.

It's a week for challenging cynicism, perhaps it was Susan Boyle who got that ball rolling. Most BRO devotees will agree with investing in local community, and that people who bank at a local branch will be more likely to use more services there, creating local job growth and investment. M&T is good for Buffalo, and Buffalo is good for M&T.

Hopefully other companies considering WNY as an operations site will interpret this article similarly.

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Well, Buffalo made another unfortunate Forbes list today.


http://realestate.yahoo.com/promo/us-cities-where-its-hardest-to-get-by.html

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Of course of all the cities shown only the Buffalo image shows snow even though a good 50% of the cities listed get substantial snow.

It is odd that Buffalo should end up so high on this list since its cost of living index was among the lowest on the list(below the national average) and it has one of the lowest unemployment rates. I guess the low median income had an impact but its ratio to cost of living was extremely low compared to the others. I also love how not in-depth their in-depth segments are.

replied to PaulBuffalo
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Yeah what a crappy picture, but then again the inferiority complex doesn't help. There's always two ways to go, be embarrassed or fight, Buffalo needs to do a better job of saying "f'you" and being the scrappy kid on the block rather than just taking it and being defeated so easily.

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Well, whether one agrees with Wilmers or not he is involved, his only minor drawback was opposing a charter school at AM&As years ago. When one takes a look at the major industrial, commerical and professional leadership in Buffalo and Western NY, they are largely un-involved: Delphi, Ford, GM, 3M, Dunlop, Dupont, Contract Pharmaceuticals, etc and Buffalo suffers for that lack leadership in the private sector. It basically leaves Buffalo with a 2nd or 3rd string list of players (business and unions) more intent on feeding off the city than in major projects to bring the city back.

The advantage of Wilmers is that he is not like the string of people who have made money off demolition and parking lots.

Even major players like GreatBatch and Wendt are more concerned about charities and non-profits than in civics and economic growth which is good...but we need leaders to build both our culture and our economy.

Lets not forget that it took a control board to pull local leaders out of their respective caves.

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Too bad they had to throw in the same tired Buffalo stereotypes of Beer Cold and Sports

Yeah, why would anyone mention that it's cold, our love for sports and our prolific beer drinking that was once proudly trumpeted on this very website as a primary reason Labatt's moved their offices here.

Why be so self loathing? Embrace what we are, screw everyone else.

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Golly what asinine writers at that magazine. The comment that Wilmers is not a "typical Western New Yorker" should be spat back at Fortune. Here's a city whose arts patrons just voiced again how passionate they are for culture in our city (by being designated again Best Arts destination/midsize city), and Fortune in its wisdom resorts to a false cartoon to portray the roughly million individuals in the area.

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EricOak, I agree that the article stereotyped western New Yorkers, but Wilmers is certainly not a typical citizen. The city has been fortunate to have his talents and it would be great if there were many more of his caliber.

replied to EricOak
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thrilling that a beer company moved all 20 employee's here due to our sad drinking habits. brag when a real employer moves to the area .

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PaulOak,
Wilmers is not typical of any city, and every city needs more concerned, generous, and sensitive philanthropists -- the point is that myopic writers at magazines like Fortune set a man like Wilmers against what they in their unabashed ignorance see as the "population" of a certain place. Imagine Fortune making a out of Los Angeles and its migrant workers, factory workers, celebrities, unemployed, hair stylists, waiters, accountants and painters. They wouldn't think to do that, but they do with cities they don't really know or take time to learn about.

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Sorry for calling you PaulOak--we often agree but not that much!

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EricOak, I think NYC and LA are the two most stereotyped cities in the country. Similar treatment typically happens to all cities when they merely serve as backdrops for other subject matter.


[No offense taken for the Oak reference. Take care.]

replied to EricOak
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You overlook the fact that Wilmers was greatly involved in (some might say personally responsible for) the hiring of Dr. James Williams as Buffalo Schools Superintendent and the thus all the subsequent horrors of mismanagement, cronyism, and near total destruction of classroom morale.

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Does the Buffalo teacher's union have a policy of bashing the Superintendant on internet blogs at every possible chance, even when the subject matter is totally and completely unrelated?

If Wilmers is responsible for hiring Williams, then good. At least Williams talks to the talk about improving standards and changing some of the failed policies of the last 30 years. If you are a teacher and you don't like it, resign in protest. There are hundreds - maybe thousands - of college students about to graduate in May who would love to have your job.

Just an impartial observation, but Williams has only been on the job for a few years. The Buffalo Public Schools have been failing and plagued by cronyism and mismanagment for decades now. "Destruction of classroom morale" is a pathetic attempt to justify not doing your job. If your morale is so low, you should quit. I'm sure you're doing a tremendous disservice to your students by hating your job so much. What's more, you're probably inadvertently teaching them that it's someone else's fault if they don't do well and don't feel motivated, which ultimately undermines your very duty to instill efficacy in students. So find a new gig - everyone wins.

He's the boss, and unfortunately, teachers are the grunts. Theirs is not to question why.

replied to bfotk
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As a successful "grub" of a Buffalo teacher for the past ten years I take a slight offense at your comment. One can love their job and facilitate students' learning and still lobby for a better contract. How many professions which require a Masters degree at a minimum, would be asked to work without a contract for five years, have their ten year old contractual salary violated and then continued to be underpaid in the face of judicial rulings to the contrary?

(Do you know that a teacher with 3 years experience coming into our district will be paid the same as their BPS peer with 6 years experience b/c of the continued salary/step freeze.)

While all students deserve outstanding professional teachers in front of the classroom, urban (and rural) districts desperately do. While your notion of young master teachers devoting their life to being underpaid in order to fight for equity in these needful districts is noble it is not based on reality.

I am one of those noble educators who is having trouble keeping his electricity on. So tell me kind sir what is the solution?

I doubt it is in scripted learning which is pushed by the current administration (as well as them fighting our pay steps). I am not anti-Williams, however his inability to stand besides his grunts has damaged teacher morale, period.
While great teachers will not let this affect their ability to teach, it certainly makes leaving an attractive option (which would break my teacher heart) and certainly stands as a roadblock to recruiting and retaining outstanding educators.

With Respect.

Keith J. Hughes

replied to reflip
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