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Wells Fargo to city: Don't bank on marketplace

Original post made on May 3, 2012

Five years is a long time to put together a specific plan – time enough to raise objections, rework the fine points and figure out compromises. But protests continue even as the downtown/El Camino Real specific plan nears completion.

Read the full story here Web Link posted Thursday, May 3, 2012, 11:40 AM

Comments (11)

Posted by Menlo Parker, a resident of Menlo Park: University Heights
on May 3, 2012 at 12:54 pm

I don't know why Wells Fargo didn't speak up before, but I support the bank's position (and I have expressed my thoughts before). We have been hoping that the ill-begotten "paseo" would be dropped from the final plan. We still hope so. Closing Chestnut is a hare-brained scheme that does no one any good. Endangering our vibrant, successful, and beloved farmers' market by starting a new competing market is even sillier. Interfering with parking will just guarantee that I shop elsewhere and will harm Menlo Park's tax base.

The part of the plan I support is denser housing and mixed-use development along El Camino.


Posted by Richard, a resident of Menlo Park: Central Menlo Park
on May 3, 2012 at 1:15 pm

It is about time that Wells Fargo, and the other banks
step up to this issue. Trader Joe's, it is now your turn.


Posted by been there , a resident of Menlo Park: Downtown
on May 3, 2012 at 1:22 pm

I am very surprised that Wells Fargo is taking a political position. Is Jeffrey Rader authorized by upper managment to make this statement? If upper management did authorize Wells Fargo to take a political position, it will definately change my opinion of this bank for the worse.


Posted by Susannah, a resident of Menlo Park: Linfield Oaks
on May 3, 2012 at 2:21 pm

Question for the article reporter:

Is Wells Fargo speaking up for the first time at this late date? Or they were involved earlier but did not speak publicly until now?

Too bad they are not happy about the plan because it could be an improvement to our tired-looking downtown.


Posted by Steve, a resident of Menlo Park: Downtown
on May 3, 2012 at 3:31 pm

@ Been There, you should have dumped Wells Fargo a long time at.


Posted by banks suck, a resident of Menlo Park: Downtown
on May 3, 2012 at 7:44 pm

Banks already screwed up our national economy. Now they want to screw up our neighborhoods, too? I say tell them to go to h*ll. Who's with me?

Our tax dollars bailed out the banks. Now it is time for them to give back.


Posted by Peter Carpenter, a resident of Atherton: Lindenwood
on May 3, 2012 at 8:00 pm

Peter Carpenter is a registered user.

Amazing - here we have a long time local business that serves the community and they express concerns about how the proposed plan will impact them and the above posters can only respond with angry, childish statements.


Posted by Hmmm, a resident of another community
on May 3, 2012 at 10:02 pm

I canNOT stand Wells Fargo. But, they raise a viable concern. I'm curious, as Susannah asked, if it's only now that they're coming forward, which the article also suggests. If that's the case, why now, why not sooner?

Sheesh, I can't stand it when a lousy bank raises a good point.


Posted by POGO, a resident of Woodside: other
on May 4, 2012 at 6:00 am

Yes, what Menlo Park needs is an even more hostile environment for its businesses and even more empty store fronts.

I'm sure other businesses are already lining up to fill that vacant Wells Fargo space!


Posted by Bob, a resident of Menlo Park: Downtown
on May 4, 2012 at 7:58 am

I agree with Menlo Parker's comments.

We don't know the complete story whether or not when Wells Fargo said something. They have been a stable business in MP for 20+ years when other stores have come and gone.

I would look to the city to work better with the established businesses as to how to move forward and find a workable solution. I just hope we don't have to wait another 5 years for a solution.


Posted by business exec, a resident of Menlo Park: Central Menlo Park
on May 4, 2012 at 9:32 am

The DETAILS of this plan have not been known for 5 years, so that's an exaggerated and false claim.

Where are concerns about a business's property rights? They need their parking area to operate their business and they own that parking. Many other businesses are concerned about parking, too, but they don't outright own the parking plaza area near them so don't have the same power Wells does.

The market place idea and its siting came from the consultants, not from the community. This is the time to iron out remaining issues, and this is a biggie. There has been talk for a long time about conducting a trial of the market place, paseo, parklets and there has been time to do so before the plan is up for approval. It's inexplicable why the Council and staff have dragged their feet.

I fully support Wells Fargo's position.
I'm very surprised Trader Joe's isn't speaking out about the loss of 35 parking spaces in the lot behind their store. Their business would be severely affected.


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