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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.
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.
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.
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.
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...
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
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...
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.
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.
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