L.M. "Bud" Baker Jr. is trying to jump-start a revolution at Wachovia Corp., but a revolution there would look like cautious plodding anywhere else.

A case in point is Wachovia's approach to alternative delivery channels, which provide cheaper ways of delivering bank services than traditional branches. While Wachovia is developing the full array of alternative channels, including automatic teller machines, telephones, and personal computers, the company rules out any radical downsizing of its branch network, which comprises 489 offices in Georgia and the two Carolinas.

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