Chicagoist: Bank of America: Not Another Macy's

JasonM

Sat, 17 May 2008 01:47:52 -0600

Bank of America definitely has paid attention to the Macy's disaster. Their ad campaign OVER emphasizes Chicago... too bad Macy's can't learn and bring back Field's! I agree a bank is different from a world-class historic destination such as Marshall Field's State Street. Nonetheless I really liked LaSalle and thought it was a great corporate citizen.

Chicago D

Wed, 14 May 2008 11:17:39 -0600

Scooter, From the Fifth Third web page: Fifth Third traces its origins to the Bank of the Ohio Valley, which opened its doors in Cincinnati in 1858. In 1871, that bank was purchased by the Third National Bank. With the turn of the century came the union of the Third National Bank and the Fifth National Bank, and eventually the organization became known as "Fifth Third Bank." Since its beginning, Fifth Third has provided superior customer service and followed sound banking principles. So, just to reiterate, it is a terrible name.

Scooter Libbby

Wed, 14 May 2008 00:22:22 -0600

Fifth/Third Bank is named after the streetcorner in Cincinnati or Columbus where the bank's HQ is. Whatever you think about the BofA ad campaign, it's obvious that they've learned from the Marshall Field/Macy's disaster. Plus LaSalle was Dutch owned. I had assumed that Terry Lundgren would have been fired by now for this mess he created for reasons only he really knows.

Mike G

Tue, 13 May 2008 23:16:20 -0600

The CEO of Fifth Third Bank says he chose the name because Third Fifth sounded irresponsible. You have to admit, that's pretty good for bank CEO humor.

JimMcKay

Tue, 13 May 2008 22:53:39 -0600

The response to this is very simple. LaSalle served our city well. Field's did too but it was also an international destination where it's hard for a bank to be an international destination. LaSalle Bank did a lot for Chicago to make it a great city. At the same time, people didn't come from all over the world to Chicago to visit LaSalle Bank. On the other hand, as recently as 2005, Marshall Field's was the number three destination in our city. (Source: Marshall Field's and Macy's literature). Also, Bank of America already was here for over a decade. So it's not entirely new. Two things I'm personally not nuts about with B of A: 1) I'm sick of the bright, glaring red on those sign. 2)The "Welcome to Chicago" ads kinda seem off target in terms of subjects that are Chicago and I feel like they are welcoming ME to Chicago. I don't think the ad campaign is so hot.

Spook

Tue, 13 May 2008 16:34:00 -0600

Ward Up! Dude, you totally changed my mind about the importance of bringing Marshall Fields back to Chicago ASAP! I wanna sign up for the volunteer Save Marshall Fields P.R Committee! I've got great P.R. generating ideas! Clearly you are not the only one who gets emotional about Marshall Fields! So let’s do another "Save Marshall Fields Rally"! But this time when the TV Cameras and reporters arrive you( Ward Up) flick on a portable Karaoke Machine set to the tune of Whitney Houston song “I Get So Emotional.” You sing along but insert “Marshall” into the song while the Marshall Fields Suburban Houses wives in thier yellow and pink pants and sweat suits and flowered Moo Moos sing back up and dance in the back ground. Can't you hear it Ward Up....... "I get so emotional Marshall, Every time I think of you! I get so emotional Marshall,Ain't it shocking what love can do! I get so emotional Marshall, Everytime I think of you, I get so emotional Marshall, Ain't it shocking what love can do…….....” Brilliant!

madonnawashere

Tue, 13 May 2008 15:11:20 -0600

No, not sentimental about the bank itself... but what about the LaSalle Bank Run, which reminds me of the building on the Kennedy that is seasonally painted. I loved all the runners taking off their regular street clothes to run. I hope they can match that!

Ward Up

Tue, 13 May 2008 14:46:49 -0600

There was remotely like Marshall Field's in Chicago as a business destination with a strong emotional tie to Chicagoans. Certainly no other commercial enterprise came close, unless, perhaps, it you count the Cubs and Wrigley Field. Bank of America does not have anything to worry about. LaSalle was a nice local brand, but without the emotional connection of Marshall Field's, and without the potential to be a future civic asset in the way that Marshall Field's is. That's right, killing Macy's and bringing back Marshall Field's is about the future, not the past.

UTV

Tue, 13 May 2008 14:02:23 -0600

Chicago D, I have indeed found a worse name. Old Second Bank http://www.o2bancorp.com/ "Not first, not new, just ... there."

xlprq

Tue, 13 May 2008 13:50:49 -0600

I hate Bank of America for one reason: the demise of Filter. Yes, I loved Filter. Flame away!

Amy Mikel

Tue, 13 May 2008 13:41:15 -0600

@ Chris F there have been speculations about that being the case. another theory is that the New Coke formula fiasco was orchestrated by coca-cola in response to the very successful pepsi co marketing campaign at the time. but coca-cola did get great publicity for not firing the executive who was responsible for New Coke, therefore giving the company more "live and learn", humane, credibility.

Chris F

Tue, 13 May 2008 13:24:18 -0600

I really don't like the BofA campaign, primarily because it feels like it was the brainchild of some NY-based copywriter who was vaguely aware that "Chicago calls itself the Second City". "Here's a list of things that are Chicago-y: deep-dish pizza, 16" softball, um... Al Capone?" And this is just my theory, but "New Coke" wasn't a marketing blunder, it was marketing genius. Coke wanted to switch from relatively expensive cane sugar to dirt-cheap high-fructose corn syrup, but knew that the subtle change in flavor would be a PR fiasco. So, instead of trying to weather that, they announce... a whole new formula! When that predictably blows up, they announce plans to bring back the original formula, with one minor change: HFCS instead of sugar. After the Pepsi-esque New Coke, no one noticed much difference, and bought up Coke Classic like it was going out of style. So, Coke has to put up with jokes about "the worst marketing decision ever", while quietly pocketing millions of dollars a year in sweetener savings.

Chicago D

Tue, 13 May 2008 13:04:49 -0600

There are not many people with memories of going to pick their birthday/Christman/etc. present at the LaSalle Bank. The bank did not have Christmas windows, or the Walnut Room. Those things are different. Of course, the other reality is that LaSalle acquired Chicago-area institutions over the last 20 or so years. As a former Talman Home customer who was dragged into the LaSalle Family, I can attest that they felt as unwelcome and foreign as any bank from outside of Chicago. Can we talk about Fifth Third Bank? I understand that their name is the combination of two of their acquisitions, but is there a stoopider name than 5/3? When I banked there (they swallowed another bank I used) I used to call it 1 2/3. The name reminds me of the Mr. Sparkle ad from the Simpsons: http://www.videosift.com/video/MR-SPARKLE-Simpsons-parody-surreal-Japanese-commercials

dayofthedaleks

Tue, 13 May 2008 12:56:59 -0600

Does Looptopia even stand a chance of being a going concern next year? It got almost no coverage here or in other sources.

YoknapatawphaTourismBoard

Tue, 13 May 2008 12:42:32 -0600

Not to mention that banks' services are pretty much identical, it's only the fees that differ. The Marshall Fields on State had a decent selection clothes-wise. Today... crap crap crap.

JuliaPorter

Tue, 13 May 2008 12:16:00 -0600

I don't think people feel as sentimental about their banks- most people never even step inside their bank anymore. Plus bank mergers are so common anymore, it's not surprising, really.