Local banking expert Tony Plath predicts Citigroup Inc.’s purchase of Wachovia Corp.’s banking operations will result in a loss of about 3,000 jobs in Charlotte.
But Plath, a UNC Charlotte finance professor, says the job losses likely would have been larger is Wells Fargo & Co. had made a deal for Wachovia.
On Sunday night, The Wall [...]
Entries from September 2008
September 29, 2008
Professor foresees 3,000 local job cuts from Wachovia Deal
September 28, 2008
Wachovia Latest Bank to Send a Distress Signal
Wachovia became the latest bank to reach for a lifeline and has approached potential buyers including Citigroup, Wells Fargo and Spain’s Banco Santander, according to reports.
Senior executives from Citigroup are rumored to be meeting Sunday to discuss a possible merger.
Shares of the Charlotte, N.C.-based bank tumbled 27% Friday — the day after Washington Mutual was [...]
September 27, 2008
Mecklenburg unemployment rises to 7%
The unemployment rate in Mecklenburg County rose to 7 percent in August from 6.7 percent in July.
In August, 32,008 residents were unemployed among the county’s labor force of 459,297, according to the N.C. Employment Security Commission.
Unemployment in the Charlotte/Gastonia/Concord area was 7.1 percent, up from 6.9 percent in July.
In the Hickory/Lenoir/Morganton metro area, unemployment was [...]
September 27, 2008
Kohler Company to Close Operation in Statesville
Kohler Co. will close its Canac kitchen cabinetry business, just three years after opening a large operation in Statesville.
The move will leave 552 local plant employees jobless by year’s end.
In total, 807 employees will lose their jobs. Other Canac locations are in Toronto, Canada, and Wisconsin.
Affected employees will receive severance packages and unemployment benefits.
Read full [...]
September 25, 2008
The Progression of Jobs Now!
By Joe Sullivan
Wednesday, September 24, 2008
When Knoxville-area economic boosters launched a heralded Jobs Now! program in 2002, their goal of creating 35,000 new jobs in the six-county area over the next five years seemed ambitious at first blush.
So when the five-year results that met the goal were announced at a proverbial power breakfast, the booster [...]
September 24, 2008
Big cuts expected as part of BofA buy
By Rick Rothacker · The Charlotte Observer
CHARLOTTE — How many jobs will Bank of America Corp. cut in its planned purchase of Wall Street giant Merrill Lynch & Co.?
The Charlotte bank hasn’t disclosed that information, but analysts are expecting a big number if it’s to achieve its goal of shaving $7 billion in annual expenses, [...]
September 23, 2008
Why Nurses Quit
by Carrie Vaughan, for HealthLeaders Media, September 19, 2008
We’ve all heard the reports. The U.S. healthcare system will need more than one million new registered nurses by 2020. Thousands of nursing school applicants are turned away each year because there isn’t enough nursing faculty, clinical sites, and classroom space. The shortage of registered nurses in [...]
September 19, 2008
Banking and Jobs in Charlotte – What’s Next?
With this week’s turbulence and shakeout in the financial markets – locals here in Charlotte are wondering and waiting what the future will hold. Many are asking what effect the merger between Bank of America and Merrill Lynch & Co will have on their job – at the same time the same questions are being [...]
September 18, 2008
What? A Banner Year in Nurse Recruiting!
Despite a shortage of nurses locally and throughout the nation, Erie County Medical Center is reporting a banner year for recruitment.
The hospital said it attracted more recent nursing graduates as well as experienced nurses than the previous 12 years. Year-to-date, ECMC has hired 181 nursed, including 125 registered nurses (RN) and 56 licensed practical nurses [...]
