After losing $600 million in three years, the retail operation faces major surgery.
"It's a way to bring a little of our retail operation to their backyard."
"There's nothing that says there won't be a retail operation again in the future," he said.
In the late 1990's, he bought a software company and helped it develop a program for running retail operations.
It also has the potential for stronger retail operations, he said.
That should give the company time to figure out just how to run a retail operation.
Like computer memory, retail operations have grown so huge that a new term was needed.
"He was part of our retail operation," the guy said.
About 25 years ago, the company closed most of its retail operations and began concentrating on a more limited line.
The unit has become a major part of the bank's strategy as its retail operations have struggled.
