Just in citigroup aquires wachovia (Charlotte: real estate, to buy, tax)

[baybook]

Originally Posted by XNYgirl

I didn't see this post and I posted too. Sorry!!!

This could be tragic for Charlotte because Citigroup doesn't need two headquaters. There was talk a while back about charlotte possibly loosing wachovia. SO, it's true now. It's kinda sad.

My question is this - will citigroup bring back the jobs that were 'offshored' under K Thompson?

I think the bigger question is how many jobs will be lost because of Citibank. Citibank also loves offshoring so....

[QC Misfit]

Well my household are hoping for the best. At this point it is out of our hands and in someone else's. Worried yes! Concerned Yes! Going to make it? Yes!

I am just thankful my family have there health!

[yrgm]

from the wife,
How will this affect Charlotte and our local economy? Will there be a lot of lay-offs or will there be more hiring eventually? Will they stay in uptown?
I'm sure it's going to take some time before we know all the answers just wondering what you are spectualting...

[XNYgirl]

Originally Posted by baybook

I think the bigger question is how many jobs will be lost because of Citibank. Citibank also loves offshoring so....

Oh! I don't follow Citigroup since I"ve paid off and closed those college credit cards. However, I did work for Wachovia and they were a great company until last year. I do beleive this is a very tragic situation for Charlotte.

[berryjuice4life]

they aquired the Banking Division, not wachovia corp..

just FYI... Citi has not acquired Wachovia Corporation... they have acquired our banking operations only (yes I'm an employee). The media is reporting it a bit incorrectly. Here is the statement from the FDIC:

FDIC: Press Releases - PR-88-2008 9/29/2008

If you have money with Wachovia, it's totally fine and you have no worries.

[flexysteve]

Originally Posted by massageman

Why did the mods close my official death watch thread? You called me a fool and chicken little and now you close the thread? I can't wait to hear more of lovesmountains advice, ha ha ha!

How is being bought the same as dying? Call me when you see a "For Lease" sign on the front door of Wachovia and all the employees given pink slips. Even the FDIC said Wachovia didn't fail.

Is Myspace or YouTube dead? (bought by Google)
Is Napster dead? (bought by BestBuy)
Is Gillette dead? (bought by Procter & Gamble)
Is Trane dead? (bought by Ingersoll Rand)

[DGarth08]

Originally Posted by berryjuice4life

Citi has not acquired Wachovia Corporation... they have acquired our banking operations only (

Now, does this mean that Wachovia itself is still an independent entity?

[MrConfigT]

Originally Posted by DGarth08

Now, does this mean that Wachovia itself is still an independent entity?

Yes, if you read the FDIC press release then you would know the answer to your question. Wachovia Corporation still exists, just not their banking assets.

[DGarth08]

Well maybe it's time for the company to start from scratch and do things right this time.

[XNYgirl]

Originally Posted by berryjuice4life

they aquired the Banking Division, not wachovia corp..

just FYI... Citi has not acquired Wachovia Corporation... they have acquired our banking operations only (yes I'm an employee). The media is reporting it a bit incorrectly. Here is the statement from the FDIC:

FDIC: Press Releases - PR-88-2008 9/29/2008

If you have money with Wachovia, it's totally fine and you have no worries.

I don't want to sound ignorant, but what is Banking Division vs what other divisons?