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Main job losses will be in senior and "corporate" positions. They aren't going to have two Chief Financial Officer's for example. One will stay and the other will either be demoted or leave. There will eventually be synergies in places like information technology, finance, managed care / insurance coverage, public relations, legal, billing, medical coding, et... like most mergers. Many people won't necessarily be laid off, but decide it is time to leave when they get demoted during the merger, get a new boss they don't like, et.. and they won't be back-filled.
All of the medical staff / patient facing staff won't really be impacted though and is many of the employees.
W-S can pull its self back together, but I wonder if charlotte just has it out for them.
First Wachovia, BB&T and then crispy kreme just quietly setup shop in south end in a fancy new renovated old mill, Now Charlotte has taken WFBM, I find it disrespectful that WS only gets a eye center in the WFIQ, while Charlotte gets a brand new state of the art medical school....like what?
Same goes for that BB&T Merger, they chose Greensboro for the truist mortgage HQ, yet only left Winston with “community banks” and then had the nerve to say Greensboro was the “best” choice.
I’m sorry, but that is BS, Charlotte is just playing the bully, and it’s targeting Winston Salem specifically.
End of rant.
It does seem like Winston-Salem has gotten the short end of the stick to Charlotte. I don't know if it's the city government of Charlotte intentionally trying to bully Winston-Salem though or just that they really don't care because they see Winston-Salem as a sleepy little city that's not relevant to them, even though Winston-Salem probably has a superior quality of life by many standards and a higher tier university than Charlotte (though I'm sure many have gotten a fine education at UNCC as I know quite a few smart folks that have). I think Charlotte is too busy salivating over thinking they are Atlanta for some reason.
At least with Greensboro as Winston-Salem, they are in the same region and while there is still a good deal of local protectionism which is stubborn to fade, as with most jurisdictions, there is at least some incentive to not cause Winston-Salem harm because it's part of the larger economic region and it's more likely they would work together on a future opportunity involving transportation, recreation, economic development, etc. than Charlotte, which is in a different region.
Also, the industries themselves have changed. Banks used to be local and community banks. Hospitals used to be more self sufficient community hospitals. Krispy Kreme used to be a home grown company and I feel like it's changed since it went public about 20 years ago. The mantra used to be "Winston-Salem has been good to us. We'll be good to Winston-Salem". Mergers, acquisitions, IPOs, and the like have all changed this dynamic so now all the big bosses may be not only outside the county, but the state, or even the country. And they don't have the same loyalty to Winston-Salem (and places like Winston-Salem), if they've even visited there at all.
It does seem like Winston-Salem has gotten the short end of the stick to Charlotte. I don't know if it's the city government of Charlotte intentionally trying to bully Winston-Salem though or just that they really don't care because they see Winston-Salem as a sleepy little city that's not relevant to them, even though Winston-Salem probably has a superior quality of life by many standards and a higher tier university than Charlotte (though I'm sure many have gotten a fine education at UNCC as I know quite a few smart folks that have). I think Charlotte is too busy salivating over thinking they are Atlanta for some reason.
At least with Greensboro as Winston-Salem, they are in the same region and while there is still a good deal of local protectionism which is stubborn to fade, as with most jurisdictions, there is at least some incentive to not cause Winston-Salem harm because it's part of the larger economic region and it's more likely they would work together on a future opportunity involving transportation, recreation, economic development, etc. than Charlotte, which is in a different region.
Also, the industries themselves have changed. Banks used to be local and community banks. Hospitals used to be more self sufficient community hospitals. Krispy Kreme used to be a home grown company and I feel like it's changed since it went public about 20 years ago. The mantra used to be "Winston-Salem has been good to us. We'll be good to Winston-Salem". Mergers, acquisitions, IPOs, and the like have all changed this dynamic so now all the big bosses may be not only outside the county, but the state, or even the country. And they don't have the same loyalty to Winston-Salem (and places like Winston-Salem), if they've even visited there at all.
well said, and I agree on many points, however after doing a bit of digging, there have been some past animosity towards the mayor of Charlotte and the city of Winston Salem, and apparently it’s been ongoing for years.
well said, and I agree on many points, however after doing a bit of digging, there have been some past animosity towards the mayor of Charlotte and the city of Winston Salem, and apparently it’s been ongoing for years.
Thank you. That's interesting and I was not aware of that.
i remember reading an article that stated that Winston was poised to have the biomedical industry be one of its main pride-and- joys which would shift it from its textile based history.
W-S can pull its self back together, but I wonder if charlotte just has it out for them.
First Wachovia, BB&T and then crispy kreme just quietly setup shop in south end in a fancy new renovated old mill, Now Charlotte has taken WFBM, I find it disrespectful that WS only gets a eye center in the WFIQ, while Charlotte gets a brand new state of the art medical school....like what?
Same goes for that BB&T Merger, they chose Greensboro for the truist mortgage HQ, yet only left Winston with “community banks” and then had the nerve to say Greensboro was the “best” choice.
I’m sorry, but that is BS, Charlotte is just playing the bully, and it’s targeting Winston Salem specifically.
End of rant.
And Piedmont Airlines even found itself in Charlotte in an indirect sort of way.
I don't believe Charlotte's past and present political leadership had or has it out for Winston-Salem as corporate mergers, acquisitions, and relocations are primarily business decisions driven in large part by CEOs and shareholders. Instead, it should be acknowledged that Charlotte was well-positioned to benefit from (and, in one case, lobbied for) the wave of national industry deregulations, particularly in banking and air travel, that occurred in the 90s. Charlotte began to eat a LOT of cities' lunches in banking, including Atlanta, Birmingham, and Pittsburgh (San Francisco could possibly be another in the near future) in that era and the way Charlotte wound up winning big in air travel acted as a huge compliment to the corporate talent it was accumulating, creating a positive feedback loop attracting more talent and jobs that it continues to benefit from. The effects of deregulation along with Charlotte's geographic position and status as the most central and largest city within the Carolinas made it a natural regional magnet for corporate headquarters and other businesses from both within and outside of the region. Although not to the same extent as Winston-Salem, Columbia, Charleston, and Spartanburg also lost prominent businesses to Charlotte over the years but I suppose it could be argued that with Charleston, things somewhat balance out given the frequent utilization of Charleston's port by many Charlotte-based businesses and in Spartanburg's case, the longrunning Panthers training camp at Wofford offset corporate losses to a degree, even if somewhat small. One move that surprised me though is when VA-based Dominion Energy entered the SC market by acquiring Columbia-based SCANA a year or so ago. I was anticipating an acquisition of the company at some point but thought Duke would've been the one to do it.
i remember reading an article that stated that Winston was poised to have the biomedical industry be one of its main pride-and- joys which would shift it from its textile based history.
sucks that the bigger Metro is taking that away.
I've said for many years that Winston-Salem shouldn't put all its eggs in one basket with this sector. It needs a diverse economy. Winston-Salem has had a 20 plus year head start in this area during the birth years of " Piedmont Triad Research Park" now Johnny come latelys are making gains beyond Winston-Salem. Historically Charlotte has done this to the Triad. We work hard to build corporate roots with these companies and just when they start to gain some national presence, Charlotte or another city takes them away from the Triad. Its frustrating as hell. It started when the dual headquarters of NCNB forerunner to Bank of America was headquartered in Greensboro and Charlotte. Charlotte snatched Wachovia from Winston-Salem then BB&T and most likely Krispy Kreme will be next. Are there forces in Charlotte deliberately doing this to Winston-Salem? Maybe to some degree. Clearly Charlotte wants to remain the Alpha city in North Carolina and is obsessed with becoming the next Atlanta. The city can have a greedy appetite for economic growth. Charlotte wants to have its cake and eat it too and then eat everybody else's cake. To my fellow neighbors in Winston-Salem who have beef with Greensboro, Greensboro is not the enemy. In fact greatness comes when the Triad cities combine their efforts and I feel like that's not happening enough. Until that happens the region will continue to lag behind Charlotte and Raleigh and we'll continue to have companies ripped away from us instead of companies moving here. We can pretty up our downtowns with dynamic developments but its going to take more than that. Greensboro, Winston-Salem and High Point should combine its resources and efforts to attract companies here regardless of which jurisdiction the companies go to. There needs to be joint projects that will propel the region to the next level. What ever happened to the "Heart of the Triad"? Greensboro, Winston-Salem and High Point needs to market itself as "one city" with a combined population of about 650,000. The media once joked about Greensboro, Winston-Salem and High Point literally becoming one city. In fact they named it Greenston-Point. That will never happen but figuratively speaking I think that needs to happen.
Last edited by gsoboi78; 10-17-2020 at 10:30 AM..
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