Thursday, June 23, 2016

"When Carolina Bank becomes First Bank in about six months, the city will lose its only remaining locally-based bank"

How many lost jobs Richard Barron?

"Three banks still call Guilford County home: the $5.7 billion Bank of North Carolina in High Point, the $852 million High Point Bank and Trust and the $364 million Bank of Oak Ridge.

Congrats Bob

...But First Bank’s corporate culture will match, not erase, Carolina Bank’s community culture, said President and Chief Executive Officer Bob Braswell.


...UNC-Chapel Hill law professor Tom Hazen, an expert in corporate mergers and finance, said preserving the delicate relationship with a community “would be so dependent on the people involved.”

How many 'overlapping' positions?

...there have been 12 North Carolina mergers in the past 15 months

Seems profitable for the executives cashing out
but a real downer for all the terminated hourly employees

...Braswell, who is ready to retire, said the basics are set for success."

Remember when the News and Record reported there were no planned layoffs
from the Lorillard merger/sale?

Remember when the News and Record didn't tell the public
about Roy Carroll getting millions from City taxpayers for an AMEX data center
for water and sewer paid out of the fund we just got taxed more for
right after AMEX laid off thousands?

Remember the Fedex jobs that never came?

Most don't, with a lot of help from what used to be our paper of record

Greensboro is like a pass through exit Waffle House

It didn't happen by itself, it had help from those who run this town

The one's who walk with the cash and cush, Jim Melvin, Zack, Nancys Mike etc...

I'm sure Triad Business Journal will write up something spiffy