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It has too do with the job market being unstable in north carolina which has too do with wachovia . with a very large amount of people moving too an area that could lose a portion of its job base is extremely detrimental . the results of the corporations losing ground and many people moving too the city will cause the problems i listed ;-) . The results of this is just as important if not more important than the situation its self .
I'm sure there are millions of people in LA who would disagree with your assement of that city. LA, like many cities has it problems, but is still a very vibrant place to live that attracts thousands to move there every year. Regarding Charlotte and Wachovia, there are several examples nationwide where major companies moved from one city to another. And the "losing" city did not wither up and die. Look no further than Winston-Salem where Wachovia was originally located. Not trying to be confrontational, but I think your statements are very off. For example, you infer that most people moving here are working in financial services (more specfically for Wachovia). That's a huge assumption on your part, that I know you don't have numbers to support. People move here for all sorts of reasons, not just to work in financial services, and certainly not just to work for Wachovia.
I don't think they will leave. Both banks were created by local boys that enjoy competing with each other. They will be here for a while. Wachovia will most likely buy out Deutsch first.
I think there's an excellent chance that Wachovia will be sold. Ken Thompson was walked out the door by security and Goldman is in there now valuating the pieces. They've been horribly mismanaged and their efficiency rato is way down in 2nd tier now. I'd be surprised if Wells Fargo, Chase or some large Asian bank doesn't buy them inside of 3 months. And if they do, certainly they will not be a major player in NC.
I'm sure there are millions of people in LA who would disagree with your assement of that city. LA, like many cities has it problems, but is still a very vibrant place to live that attracts thousands to move there every year. Regarding Charlotte and Wachovia, there are several examples nationwide where major companies moved from one city to another. And the "losing" city did not wither up and die. Look no further than Winston-Salem where Wachovia was originally located. Not trying to be confrontational, but I think your statements are very off. For example, you infer that most people moving here are working in financial services (more specfically for Wachovia). That's a huge assumption on your part, that I know you don't have numbers to support. People move here for all sorts of reasons, not just to work in financial services, and certainly not just to work for Wachovia.
Interesting point you make about "assumptions" and not having the numbers to support statement. Although, I too, don't know the numbers, it doesn't make sense with the influx of people to CLT that the financial community would be able to support this amount of people.
Who has the stats---what do people "work at" according to labor dept. information?
Location: Some got six month some got one solid. But me and my buddies all got lifetime here
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Originally Posted by johne482
Interesting point you make about "assumptions" and not having the numbers to support statement. Although, I too, don't know the numbers, it doesn't make sense with the influx of people to CLT that the financial community would be able to support this amount of people.
Who has the stats---what do people "work at" according to labor dept. information?
Interesting point you make about "assumptions" and not having the numbers to support statement. Although, I too, don't know the numbers, it doesn't make sense with the influx of people to CLT that the financial community would be able to support this amount of people.
Who has the stats---what do people "work at" according to labor dept. information?
I found this info on Wachovia, wh/ states 6000 employees in Charlotte, and over 84,000 total. I would assume this does NOT include contract employees (1099 employees) but really do not know for sure. I thought there were more than 6000 Wachovia employees in CLT.
Location: Some got six month some got one solid. But me and my buddies all got lifetime here
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Originally Posted by anifani821
I found this info on Wachovia, wh/ states 6000 employees in Charlotte, and over 84,000 total. I would assume this does NOT include contract employees (1099 employees) but really do not know for sure. I thought there were more than 6000 Wachovia employees in CLT.
Ani that looks like it's the total number of employees at the headquarters. If that's the case that probably wouldn't include it's URP and the much larger CIC buildings. I have no idea how many employees are in the securities building on Tyron.
To dredge up a month old article, this one still states that Wachovia has 20,000 employees in Charlotte.
Ani that looks like it's the total number of employees at the headquarters. If that's the case that probably wouldn't include it's URP and the much larger CIC buildings. I have no idea how many employees are in the securities building on Tyron.
To dredge up a month old article, this one still states that Wachovia has 20,000 employees in Charlotte.
Great find Sunny! That page shows the financial services field hasn't been growing much compared to other areas. And it makes me recall that "the big 2" in Uptown have both had significant hiring freezes over, at least, the past year and a half, going on two years. So there wouldn't be many of the thousands moving here recently going to work for them. Here's a recent related link that speaks to where the job growth in Charlotte has been lately, and it hasn't been financial services...
Link: Charlotte Observer | 06/06/2008 | Region adding jobs but at slower pace (http://www.charlotte.com/171/story/656702.html - broken link)
And Brian is correct, Wachovia has 20,000 people here. They have 6,000 in Atlanta, and BofA has a similar numbers in both cities.
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