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No I never said Charlotte economy will implode into a Detroit style meltdown with 100,000 of 1000's leaving the city and abandoing their homes. obviously the banks are not going to abandon Charlotte, there will still be a huge banking presence in CLT.
All I was saying is CLT is far too reliant on banking for the economy, and the layoffs in banking will hurt CLT bad. CLT has not seen a decline in banking ever, and this banking crisis is going to hurt CLT and will be a shock on the local economy that it has nto seen in a long time.
Before the banking crisis we are in now banks were nearly recession proof and CLT breezed thru all previous recissions.
Hell, when I lived in CLT I worked at a few bank myself.
I lived in Atlanta for 8 years during the 90's and during the Olympics, sucked, got unlivable there due to WAY too many people. Atlanta thinks they are a world class city, that is a total joke.
Live in South Fla now.
Oh btw - you mentioned Google? Well, Google is NOT opening that data center in Lenior. Look it up
PS - don't take things so personal.
I guess somebody ought to inform Google??? You really might want to get some of your "facts" straight before you continue on this thread.
Im sorry but Lenoir isnt close enough to Charlotte to make a difference to it's economy. Also I would try to find the article but it would be going off topic that Google plans to scale back if not the whole project due to the way the economy is now.
GMAC decision could lead other companies here | CharlotteObserver.com (http://www.charlotteobserver.com/597/story/439946.html - broken link)
GMAC decision could lead other companies here
Okay. I have said this many times and it appears the message ain't getting through.
Charlotte is a BUSINESS BASED CITY, founded prior to the Revolutionary War. The banks were home grown and then got bigger due to mergers and acquisitions. We are not a city based on BANKING. The banking just HAPPENED b/c we had solid banks in the region.
The reason new businesses will continue to be attracted to Charlotte is because of the workforce, not b/c of banking. And not b/c of the skyline. Who gives a damn about skylines these days? I mean - really! Okay, pretty to look at, I guess!
We live in a VIRTUAL WORLD, for god's sake. People can be located WHEREVER and do business globally.
Yes, I think an active more dense uptown is GREAT! But buildings are not what determine business - product and the the workforce that produces the product is what determines business growth.
Charlotte has the workforce. So businesses will continue to come here.
Okay. I have said this many times and it appears the message ain't getting through.
Charlotte is a BUSINESS BASED CITY, founded prior to the Revolutionary War. The banks were home grown and then got bigger due to mergers and acquisitions. We are not a city based on BANKING. The banking just HAPPENED b/c we had solid banks in the region.
The reason new businesses will continue to be attracted to Charlotte is because of the workforce, not b/c of banking. And not b/c of the skyline. Who gives a damn about skylines these days? I mean - really! Okay, pretty to look at, I guess!
We live in a VIRTUAL WORLD, for god's sake. People can be located WHEREVER and do business globally.
Yes, I think an active more dense uptown is GREAT! But buildings are not what determine business - product and the the workforce that produces the product is what determines business growth.
Charlotte has the workforce. So businesses will continue to come here.
Yet the unemployment rate in CLT is skyrocketing.
It is one thing to be optimist, it is another thing to just be bolsterous, and ignore the facts of reality and keep touting Charlotte as some utopia that can never be effected or slow down the growth. The fact is the business of Charlotte is banking and banking related businesses.
The fact is a good percentage of the HIGH paying jobs in Charlotte are in the banking industry, and the banking industry is now taking a huge hit. Yes, Charlotte will be effected by that. No Charlotte will not turn into another Detroit, but the growth in the city will definately be effected by losing one of the MAJOR corporate HQ of the city, and as it was stated in the article BofA will someday relocate their HQ to NYC. That is really inevitable.
Yet the unemployment rate in CLT is skyrocketing.
It is one thing to be optimist, it is another thing to just be bolsterous, and ignore the facts of reality and keep touting Charlotte as some utopia that can never be effected or slow down the growth. The fact is the business of Charlotte is banking and banking related businesses.
The fact is a good percentage of the HIGH paying jobs in Charlotte are in the banking industry, and the banking industry is now taking a huge hit. Yes, Charlotte will be effected by that. No Charlotte will not turn into another Detroit, but the growth in the city will definately be effected by losing one of the MAJOR corporate HQ of the city, and as it was stated in the article BofA will someday relocate their HQ to NYC. That is really inevitable.
Your post seems to indicate I am boisterous about promoting CLT and that is incorrect. I have been warning people not to move to the area and have been posting that our actual unemployment is higher than figures indicate, b/c (for one thing) these figures do not include contract workers.
Yes, the banking industry has taken a huge hit! But this whole "Charlotte is built on banking" mentality is BS. Charlotte grew and employed more people b/c of banking in the last 15 years . . . but 15 years do not define the history of this city.
Last edited by brokensky; 01-11-2009 at 09:33 AM..
Reason: syntax
Your post seems to indicate I am boisterous about promoting CLT and that is incorrect. I have been warning people not to move to the area and have been posting that our actual unemployment is higher than figures indicate, b/c (for one thing) these figures do not include contract workers.
Yes, the banking industry has taken a huge hit! But this whole "Charlotte is built on banking" mentality is BS. Charlotte grew and employed more people b/c of banking in the last 15 years . . . but 15 years do not define the history of this city.
Most growth has happened in CTL in the last 15 or 20 years and 90% of it is due to banking. This is a fact.
What are the other big industries in Charlotte? Trucking? NASCAR?
The main reason for most of the growth in CLT over the last 25 years is due to banking. I think Charlotte has now peaked in growth. Without the big banking HQ's Charlotte is going to be in big trouble.
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