U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > North Carolina > Charlotte
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 08-20-2011, 02:59 PM
 
Location: Indianapolis
3,895 posts, read 4,235,062 times
Reputation: 957

Advertisements

Since Bank of America is going through some tough times and as we saw in 2008 banks can close without notice. What would Charlotte be like without that bank considering recently their stock prices have just tanked and now they are laying off thousands of employees.
Reply With Quote Quick reply to this message

 
Old 08-21-2011, 06:17 AM
 
202 posts, read 269,278 times
Reputation: 186
It's simple Detroit.
Reply With Quote Quick reply to this message
 
Old 08-21-2011, 06:56 AM
 
Location: The 12th State
22,974 posts, read 56,027,454 times
Reputation: 14854
Charlotte will survive and will not be like Detroit. Charlotte transform with the times.
Charlotte was once big in textile before banking and its future is in Energy.
There is lithium battery companies, solar and natural gas companies coming growing in the area.

Here is a thread with more insight Charlotte's economic future: The Energy Center
Reply With Quote Quick reply to this message
 
Old 08-21-2011, 07:08 AM
 
8,877 posts, read 7,975,825 times
Reputation: 5059
Quote:
Originally Posted by SunnyKayak View Post
Charlotte will survive and will not be like Detroit. Charlotte transform with the times.
Charlotte was once big in textile before banking and its future is in Energy.
There is lithium battery companies, solar and natural gas companies coming growing in the area.

Here is a thread with more insight Charlotte's economic future: The Energy Center
All I know is with or without Bank Of America ....summer would still be too hot for too long...
Reply With Quote Quick reply to this message
 
Old 08-21-2011, 09:32 AM
 
Location: Charlotte, NC dreaming of other places
983 posts, read 2,039,473 times
Reputation: 777
Charlotte will remain the same, someone else posted the same question last month, if you search the thread you will see the responses. I have a lot of friends in Charlotte and only one that her husband is working for BofA. We are talking about a small percentage of Charlotte population working for BofA.
Reply With Quote Quick reply to this message
 
Old 08-21-2011, 09:45 AM
 
6,076 posts, read 9,280,200 times
Reputation: 4462
Quote:
Originally Posted by oldway View Post
It's simple Detroit.
The 10 largest employers in Charlotte...

2009 numbers (the most recent year I could find)
1 Carolinas Healthcare System 26,283
2 Wells Fargo/Wachovia Corp 20,000
3 Charlotte-Mecklenburg Schools 19,485
4 Bank Of America 13,960
5 Wal-Mart Stores Inc 13,192
6 Presbyterian Regional Healthcare Corp 9,000
7 Delhaize America Inc/Food Lion LLC 8,658
8 Duke Energy Corp 7,757
9 North Carolina State Government 7,479
10 US Airways 5,955
Charlotte Chamber

Even if BofA goes under or is purchased (think Wachovia), those jobs will still be in Charlotte. Where else are those jobs going to go? NYC? BofA can't afford to move those jobs to places like NYC and San Fran (places with MUCH higher labor costs than Charlotte).

Charlotte is a cheap place to do business. Therefore Charlotte will continue to attract new businesses. It seems to me that some folks forget the fact that we're in the middle of a National change in economics. Detroit went down while everyone else went up. The same can be said about Pittsburgh. Charlotte (unlike these aforementioned cities) is by no means alone in this new economic reality.

Note: The OP seems to be an Indianapolis poster that knows very little about Charlotte; yet decided to come onto Charlotte's board with a negative thread about our 4th largest employer. Just thought that fact should be pointed out before this thread turns into a 20 page mess...
Reply With Quote Quick reply to this message
 
Old 08-21-2011, 12:06 PM
 
Location: Near the water
8,219 posts, read 10,949,444 times
Reputation: 3846
It is not about relocation of jobs, I guess you missed the news that 3500 were being let go and by the time it is said and done the number could meet or exceed 10,000 jobs lost.







Quote:
Originally Posted by urbancharlotte View Post
The 10 largest employers in Charlotte...

2009 numbers (the most recent year I could find)
1 Carolinas Healthcare System 26,283
2 Wells Fargo/Wachovia Corp 20,000
3 Charlotte-Mecklenburg Schools 19,485
4 Bank Of America 13,960
5 Wal-Mart Stores Inc 13,192
6 Presbyterian Regional Healthcare Corp 9,000
7 Delhaize America Inc/Food Lion LLC 8,658
8 Duke Energy Corp 7,757
9 North Carolina State Government 7,479
10 US Airways 5,955
Charlotte Chamber

Even if BofA goes under or is purchased (think Wachovia), those jobs will still be in Charlotte. Where else are those jobs going to go? NYC? BofA can't afford to move those jobs to places like NYC and San Fran (places with MUCH higher labor costs than Charlotte).

Charlotte is a cheap place to do business. Therefore Charlotte will continue to attract new businesses. It seems to me that some folks forget the fact that we're in the middle of a National change in economics. Detroit went down while everyone else went up. The same can be said about Pittsburgh. Charlotte (unlike these aforementioned cities) is by no means alone in this new economic reality.

Note: The OP seems to be an Indianapolis poster that knows very little about Charlotte; yet decided to come onto Charlotte's board with a negative thread about our 4th largest employer. Just thought that fact should be pointed out before this thread turns into a 20 page mess...
Reply With Quote Quick reply to this message
 
Old 08-21-2011, 12:14 PM
 
Location: Crown Town
2,742 posts, read 5,765,811 times
Reputation: 1665
Quote:
Originally Posted by Chromekitty View Post
It is not about relocation of jobs, I guess you missed the news that 3500 were being let go and by the time it is said and done the number could meet or exceed 10,000 jobs lost.
If they survied after letting go 30,000, they will surely be ok letting go 10,000 this time around, Bank of America to Lay Off 30,000 or More - NYTimes.com I don't know what people expect will happen, but this is more likely to impact the bank of america workers in places like California and New York more than Charlotte because thats where their troubled buisiness units are.
Reply With Quote Quick reply to this message
 
Old 08-21-2011, 03:14 PM
 
Location: Niagara county
2,557 posts, read 4,241,733 times
Reputation: 1663
More homes for sale.
Reply With Quote Quick reply to this message
 
Old 08-22-2011, 08:00 AM
 
Location: Niagara county
2,557 posts, read 4,241,733 times
Reputation: 1663
Quote:
Originally Posted by GloriaBurns View Post
Bad news has been coming out about them for months outside the mainstream media. I believe the layoffs are a pre-curser to that bank being broken up and sold off. If so, I can see the net employment going below 10,000 here in Charlotte. It's not a huge hit to Charlotte in general but probably hell if you work there or have them as a major client.

Wells and Ally are not troublefree either.
Not good, trying to leave the area. House for sale.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:



Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > North Carolina > Charlotte
Follow City-Data.com founder on our Forum or
View detailed profiles of:

All times are GMT -6.

2005-2017, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32 - Top