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You think maybe Charlotte can get those textile mill jobs back?
Hopefully I'm ahead of the curve.
After years in finance (FX trading) and engineering (Apple) I entered textiles 12 years ago.
Figured I work for two Fortune 500s before I built one...
Seriously though, and to be fair to the OP, my street has multiple people effected by the financial collapse, it is quite sad.
But how is this a 'Charlotte' problem as if Charlotte proper is responsible for the industries that chose to locate here?
CLT rode a wave of success, and now comes the correction.
We will survive, it was still a great place to live 20-30+ years ago...
Obviously, this person hasn't been here long. Charlotte's economy is very diverse. Most of the people who live here "do not" work for one of the large banks, or even in financial services. To be fair, we do have a large number of people in that industry, but I think a lot of people, like the OP, tend to falsely correlate Charlotte with banking, as much as say, Detroit to the car industry; and that's a bad comparison.
There was a time about 8 years ago when I dreamed of somehow turning things around and getting back our textile mills and furniture factories. But as Carolina Woman stated - those days are just gone. The farmland where we grew that cotton is gone . . . and the furniture factory owners have found it much more economical to import cheap crap from China.
I would like to see more vineyards . . . wine could be a bigger product here . . . and I hope we will get more "green" industries in this state. I am still interested in using Kudzu to make bio-fuel. I am told it would work . . .
and the furniture factory owners have found it much more economical to import cheap crap from China.
Actually by mid 2009 three large furniture factories in NC are scheduled to reopen.
You might be surprised by what jobs come back stateside in the next 12-24 months...
Charlotte is certainly not going to dry up with/if the demise of banking. It is a key distribution point with very good highway and airport connectivity. Maybe it can stake a claim to the green deal. Enuf sunshine for pretty good solar, and right many smart people with some good colleges. Closed loop algae is where it is at, by the way.
Someone needs to take the lead, not a committee, but a visionary. It is still not too late to get out ahead on the green deal.
But....anyone who commutes and does not marvel at the traffic difference on a bank holiday, at least from the Huntersville area, has to realize the severe and probably mid-term impact that banking could have on the area. It will not be a short recovery if we have to play through a worst case scenario.
Obviously, this person hasn't been here long. Charlotte's economy is very diverse. Most of the people who live here "do not" work for one of the large banks, or even in financial services. To be fair, we do have a large number of people in that industry, but I think a lot of people, like the OP, tend to falsely correlate Charlotte with banking, as much as say, Detroit to the car industry; and that's a bad comparison.
To answer your question, I lived in Charlotte over 30 years. Moved though.
Maybe you have not lived anywhere else and have nothing to compare it to but Charlotte is NOT a diverse economy even if you want to pretend it is.
You know those tall building in downtown, ur I mean "uptown"?
Well, what percentage of those over ten stories have bank names on them or relating to banking?
I would say over 50% Maybe up to 80%
Whats the name of the NFL stadium there? Does it start with Bank Of... .. come on..you know it..
What is Charlotte's 2nd largest job base outside of banking? City/state government?
Last edited by DrGonzo33; 12-26-2008 at 05:52 PM..
Actually by mid 2009 three large furniture factories in NC are scheduled to reopen.
You might be surprised by what jobs come back stateside in the next 12-24 months...
I think this is true especially from what I am hearing from those who are still in the industry. To much is damage in transit from the ships to the west coast docks to the trains or trucks to this side of the US.
Unlike other industries the wood has to be imported to these third world countries since they offer nothing but rice fields. Companies are realizing it cost more to develop over seas.
I dont think if therre is a resurgence in furniture that it will have any effect on Charlotte economy but definitely the state.
Charlotte area like cheaply made furnitue that is why Ikea wants to tap it
I think this is true especially from what I am hearing from those who are still in the industry. To much is damage in transit from the ships to the west coast docks to the trains or trucks to this side of the US.
Unlike other industries the wood has to be imported to these third world countries since they offer nothing but rice fields. Companies are realizing it cost more to develop over seas.
I dont think if therre is a resurgence in furniture that it will have any effect on Charlotte economy but definitely the state.
Charlotte area like cheaply made furnitue that is why Ikea wants to tap it
Wasn't Hickory where a lot of the furniture outlets and manufacturing was/is?
Charlotte should try to attract Tech companies, however Atlanta or RTP tends to get a lot of those jobs in that area (South East) instead of Charlotte.
Charlotte did not really attract banking jobs, NCNB just took over bank after bank until it ate it's way to being a huge bank. Same with What was First Union now Wachovia, now Wells Fargo.
Charlotte will almost certainly lose the Wachovia HQ very soon.
Does it really matter whether one lives in Charlotte for 30 years or has never lived there to determine data regarding the city? ALL of the statistics pertinent to CURRENT economic, demographic, and sexual mores are available with a little bit of research. (The sexual mores takes a bit longer).
Perhaps the "shot-gun" type statements or "impressions" should be looked at a little more closely by following some of the available data?
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To be fair, we do have a large number of people in that industry, but I think a lot of people, like the OP, tend to falsely correlate Charlotte with banking, as much as say, Detroit to the car industry; and that's a bad comparison.
