Atlanta’s SunTrust to merge with BB&T, shift HQ to Charlotte (Carrollton: chapel, universities)

[citidata18]

Originally Posted by JoeP

...except that this was not a competition...

In a way, it was.

When it comes to a merger, only one place can be home to the HQ and they had a choice between GA and NC. Obviously, there was something more favorable about NC that they selected them over GA.

This should be a moment of reflection for GA to determine why they made that choice and what it can change about itself to diminish the possibility of something like this from happening again.

[JoeP]

Yes something was favorable, where the company is already established.

NC is its home.

I mean, seriously, come on.

[Born 2 Roll]

Some more insights as to why the BB&T/SunTrust merger is happening and why it is happening now...

In this segment from MarketFoolery, host Chris Hill and Motley Fool Director of Small-Cap Research Bill Mann unpack the reasons these large regional banks felt the need to join forces, the changing conditions that made the deal more attractive, the unusual way the joined company will handle the CEO's job, its HQ relocation plan, and more.

"Why the BB&T-SunTrust Merger Is Getting a Thumbs-Up From Wall Street
Too big to be nimble, too small to vie with the giants -- but put them together..." (The Motley Fool)

[citidata18]

Originally Posted by JoeP

Yes something was favorable, where the company is already established.

NC is its home.

I mean, seriously, come on.

That has nothing to do with it.

TCF and Chemical is a similar merger that's happening, yet despite the larger company being in Minnesota, the HQ is moving to Detroit.

[JoeP]

That has nothing to do with it.

TCF and Chemical is a similar merger that's happening, yet despite the larger company being in Minnesota, the HQ is moving to Detroit.

It has everything to do with it. I noted that the company decided on reasons that made sense for them.

It doesn't mean that every merger is the same. In fact, they won't all be the same because companies have different reasons for their decisions.

[citidata18]

Originally Posted by JoeP

It has everything to do with it

Source?

[JoeP]

What do you mean "source?"

Is this some kind of joke?

Do you not grasp that BB&T based their decision based on what made sense for them which include a host of logistics?


Actually, you are not going to answer that and your "source" comment speaks for itself.

Have a great afternoon.

[Born 2 Roll]

Some insights into how Charlotte (a city that (yet again) appears to be Atlanta's top economic rival at this point in time after taking away yet another major Atlanta bank headquarters) became the nation's largest banking center behind only New York City from a September 2012 article in the Charlotte Business Journal, a publication that is owned and operated by the same parent company as the Atlanta Business Chronicle...

...That's how Charlotte became the country's second-largest banking town after New York. A combination of friendly regulations and hard-charging CEOs who wanted to be No. 1 helped build a city that proudly claims to be No. 2.

"So how did Charlotte become a banking center?" (Charlotte Business Journal)

[JayHey]

Originally Posted by Charlotte485

But no Charlotte firm acquired an Atlanta firm. Charlotte offered no incentives. No subsidies. Uptown isn't any cheaper than elsewhere in Atlanta. Local leaders, no one tried to lure the newly formed company to Charlotte. It was kept secret by the company. The city had nothing to do with the newly formed company choosing Charlotte as a HQ.


So. Shouldn't your question be "are there currently any valuable companies in Winston-Salem that could be targeted for acquisition by an Atlanta firm?"




And isn't Atlanta's, along with nearly all southern cities, growth contributed to poaching firms from the Northeast? (And for the Texas cities - California)

Nice try at deflection, Charlotte. Coke is still going to aquire Cheerwine as payback.

[citidata18]

Originally Posted by JoeP

What do you mean "source?"
.

You claimed that the fact BB&T was HQ'd in NC has everything to do with them not choosing GA for the combined HQ. I would just like for you to back up your claim. If you can't (and I'm sure you can't), just say so.

For the record, it's very possible GA couldn't have done anything to prevent this outcome. That still doesn't mean self-reflection and effort to make GA even more competitive isn't necessary.