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Wells Fargo Stockholders Meeting Protest
San Francisco - April 2012
Hundreds of activists, union members, Occupy partisans, and people whose homes are being foreclosed took over the streets outside the Wells Fargo stockholders' meeting at the Merchants Exchange in downtown San Francisco.
Several dozen protesters got inside the building as stockholder proxies or by owning a single share of Wells Fargo stock. Many were evicted after they vocally made their presence known.
About nine protesters were arrested blocking the rear entrance to the building. Protesters at other entrances were left sitting - a frequent police tactic in San Francisco once a single entrance has been cleared.
This action was about the same size as the January Bank of America blockade and last Fall's Wells Fargo action - counting blockaders, marchers, and supporters, there might have been 1000 people, give or take a few downtown workers joining in.
It wasn't the same 1000 people as last time, though. This march had a number of labor contingents, fashionable in their matching green, purple, orange, etc T-shirts.
Some protesters dressed like downtown office workers, and it was impossible to tell who was who unless you heard them talking.
The stereotypical black-garbed Occupy Oakland crowd was not in sight (whereas in January a large contingent came over). A few people were leafleting for next week's May Day action in Oakland, though.
Contempt and Bad Taste
The bank, which has foreclosed on thousands of mortgages in the past few years, announced record profits (28% over last year), even as the sounds of the protest echoed through the ornate meeting room.
In an astonishing display of contempt and bad taste, the Wells Fargo stockholders - their "meeting" lasted less than an hour, including removing the protesters - approved a pay package of almost $20 million for its chief executive.
I'm not surprised at the amount - but wouldn't you think they'd wait to approve a $20 million payout until a quieter meeting, when it wouldn't show up on the front page? Somehow I don't think they get it.
Faces in the Crowd
It being a work/school day, I didn't see a lot of Reclaiming folks, but several were in the thick of things. I saw David K and Rahula blockading on Montgomery Street, and I heard Rose was inside the lobby. Marg planned to go inside as a shareholder proxy. Hopefully others post reports.
Lisa F was in town for the action - I got a shot of her in the street that makes it look like she was leading the whole march, which I plan to send to Fox News. Steve and Gene from Solstice in the Streets were there, and I saw David S hurry past.
Sorry if I missed anyone - as usual I spent most of the morning looking through a viewfinder.
Till next time - Luke
Photos of Wells Fargo Stockholders Protest by Luke Hauser
The march, 500 strong, began about 10am, moving from the waterfront through the Financial District.
Color-coordinated labor and community groups were sprinkled through the crowd.
As the march arrived outside the stockholders' meeting, protesters pressed up against the police barricades outside the Merchants Exchange.
Wells Fargo protesters locked down along picturesque Leidesdorff Alley.
Another crowd blocked the Montgomery Street entrance, with a couple of dozen people maintaining a blockade all morning. More protesters occupied the lobby of the building (the backs of the heads are visible through the glass doors).
A flatbed stage popped up in front of the Wells Fargo branch across the street from the meeting, thanks to well-organized union groups.
Service Employees international Union, longtime stalwarts of the Bay Area left.
About nine people were arrested at the back entrance to the building. Police refused to arrest other protesters, letting the crowd shut down the busy downtown streets for several hours.
The crowd takes over the streets outside the Merchants Exchange, where Wells Fargo stockholders were meeting.
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Luke Hauser
(aka George Franklin) is a freelance parajournalist in the service of the Goddess and planetary revolution. His photo-filled book Direct Action is an historical novel about Bay Area protests.
Photos ©2012 by RQ. Please do not copy, reproduce, fold, spindle, mutilate, or otherwise use them without written permission (which we are usually glad to offer). Thanks!
