COLUMBUS and BOWLING GREEN, Ohio – Huntington Bancshares Incorporated (NASDAQ: HBAN) and Sky Financial Group Inc. (NASDAQ:SKYF) today announced the signing of a definitive agreement to merge the two companies in a stock (90%) and cash (10%) transaction valued at approximately $3.6 billion.
To this, I say: shit.
This necessitates some unanticipated future planning on my part…
First and foremost: I work in the loan operations division of Sky Bank. From what I have come to understand, Huntington’s entire operations are based out of Columbus. Even if Aaron could transfer his higher-paying job to Columbus, I don’t think I’d be keen on selling the house and uprooting again at this point in my life. This gives me three potential options, from what I can see right now:
- Take a NW Ohio position as a teller, manager, or loan officer (with some extra training)
- Update my resume and portfolio NOW, and get out before 2nd quarter 2007
- See if Huntington plans to offer a severance package, THEN get a new gig
In any case, potential future maternity leave pay is in jeopardy. While we could afford to maintain a comfortable lifestyle on Aaron’s pay and 60% of my current pay, which is what I would have gotten from Sky for six weeks, maintaining a family of three on only Aaron’s pay would be problematic at best.
Then there’s the issue of my 401(k). That should be easy enough to roll into a Roth IRA, although I’ll have to do a little research to see how that works.
Fuckity fuck. I hate having my living in jeopardy. I know I still have a while to figure out what to go do with myself, but this is still not the kind of stress I wanted right now.