Marketplace®
Every story is an economic story

First Stop: Charlotte, N.C.

Hiya, Tess, and readers. I think I'm ready!…

Hiya, Tess, and readers. I think I’m ready!

It’s been more than four years since I last went to Charlotte, for a story on the city’s rise as a financial center.

At the time, former Mayor Harvey Gantt told me, “We’re always one acquisition away from someone moving the center of gravity out of this town.” Meaning, if Bank of America or Wachovia were snapped up by some other bank, the whole thing could fall apart. I couldn’t help but think of those words this week as news broke that Citigroup had agreed to buy Wachovia’s banking operations.

But just as one of the city’s corporate icons teeters, another thrives. After snapping up Countrywide earlier this year and Merrill Lynch a few weeks ago, Bank of America appears to be one of the few winners to come out of this mess. For now.

As Wall Street as we’ve known it crumbles, it seems fitting to leave my home in New York to begin this journey in the country’s second-largest banking center. The retired chairman of Bank of America, Hugh McColl, once told me there was nothing happening in New York that couldn’t happen in Charlotte. With the bank he helped build now set to become the world’s largest brokerage, his swagger seems a bit more justified.

Now, on to Charleston, West Virginia. But not before I sneak in some of Charlotte’s famous soul food and look into this gasoline shortage we’ve been hearing about.

So, assuming I can fill up . . . Meet me in St. Louis?

Latest Episodes

View All Shows
  • Marketplace
    10 hours ago
    25:25
  • Marketplace Morning Report
    18 hours ago
    6:17
  • This Is Uncomfortable
    a day ago
    18:30
  • Marketplace Tech
    a day ago
    13:15
  • Million Bazillion
    4 days ago
    27:55
  • Make Me Smart
    4 months ago
    24:33