THE NC Herd Fan
Hall of Famer
Posts: 16,168
Joined: Oct 2003
Reputation: 521
I Root For: Marshall
Location: Charlotte
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Don't it make my Red state Blue
The details of the Wachovia Deal:
Wachovia Corporation will continue and be headquartered in Charlotte, NC. It will be the 3rd largest Investment Bank operating AG Edwards, Evergreen Investments and Wachovia Insurance subsidiaries.
Citi world Headquarters is obviously NYC, but the North American banking headquarters and operations will be based in Charlotte, NC.
These terms are probably what gave the deal to Citi v. Wells Fargo who would have likely shutdown all back office operations in Charlotte.
Job losses are projected in the 3,000 to 5,000 range for Charlotte.
In what will be a tight race in NC, it could come down to the emotion of the Charlotte based Wachovia employees who I'm guess will overwhelmingly go to Barry O.
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09-29-2008 05:18 PM |
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THE NC Herd Fan
Hall of Famer
Posts: 16,168
Joined: Oct 2003
Reputation: 521
I Root For: Marshall
Location: Charlotte
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RE: Don't it make my Red state Blue
3 lucky fools. On Friday mid afternoon, I noticed Wachovia had dropped to $10/share. I IM'd a couple of friends and told them. I was going to place an order for 1,000 shares as soon as I got out of the meeting I was in, the meeting went long and the market closed before I could place the order. Another friend tried several times to place an order through his online account but internet traffic was exceptionally heavy and he could never get through. The other friend didn't have an online account and opened one Friday afternoon to place his order only to find out it takes 3 business days before he can trade.
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09-29-2008 06:38 PM |
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