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Winston-Salem's Tallest Buildings and Skyscrapers
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 Post subject: Re: CHARLOTTE
PostPosted: Wed Dec 01, 2021 2:26 am 
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From the Charlotte Business Journal: "Charlotte city government today disclosed the names of the 18 people chosen to serve on a new arts and advisory board charged with allocating public and private funds for the next three years while developing a long-term arts and culture strategy."


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 Post subject: Re: CHARLOTTE
PostPosted: Mon Dec 06, 2021 11:03 pm 
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EV automaker Arrival has announced plans to build a $11.5 million High Voltage Battery Module (HVBM) assembly plant in Charlotte, North Carolina. The new battery facility will add 150 jobs and join two Arrival facilities already established in the US city.
Arrival is a technology company specializing in electric vehicles, particularly vans and buses. In addition to headquarters in London, Arrival has recently expanded into the US, setting up a North American HQ in Charlotte alongside a Van microfactory on the city’s west side.


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 Post subject: Re: CHARLOTTE
PostPosted: Wed Dec 15, 2021 5:21 pm 
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Atrium Health’s Charlotte medical school building gets a name — and $25 million donation: Read more at: https://www.charlotteobserver.com/news/ ... 90551.html


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 Post subject: Re: CHARLOTTE
PostPosted: Wed Dec 15, 2021 5:49 pm 
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The Levine family is like Winston's Gray family was to the Medical School in an earlier era.


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 Post subject: Re: CHARLOTTE
PostPosted: Fri Jan 28, 2022 5:05 pm 
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From today's Triangle BJ: "Global pharmaceutical company Eli Lilly and Co. (NYSE: LLY) is once again expanding its presence in North Carolina.The company, already in the process of growing its footprint in Durham, is planning a $1 billion investment for an operation in the Charlotte region. Eli Lilly announced Tuesday it plans to created 589 jobs at the former Phillip Morris site in Concord. The project follows Eli Lilly's entrance into the Triangle in 2020 when the company announced plans for a 450-job operation in Durham County. Since then, the company has acquired hundreds of acres for its campus in Research Triangle Park."


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 Post subject: Re: CHARLOTTE
PostPosted: Sun Jan 30, 2022 2:48 pm 
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Wake Forest has some competition for its Charlotte Business School Campus and Hugh McColl is at it again! From todays TBJ: "The Kenan-Flagler Business School at UNC Chapel Hill will open in Charlotte this fall, the school confirmed today." ...."The program will be called the UNC Kenan-Flagler Charlotte Executive MBA. It is the first satellite location for the business school." ....."Retired Bank of America Corp. (NYSE: BAC) CEO Hugh McColl Jr. lobbied for years for Kenan-Flagler to expand its MBA program to Charlotte. Kenan-Flagler’s main building on the Chapel Hill campus, opened in 1997, is named for McColl."


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 Post subject: Re: CHARLOTTE
PostPosted: Tue Mar 01, 2022 12:38 am 
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This is an interesting article from "Business Insider" about Truist/BBT and what they are having to do regarding salaries to build up their banking staff in Charlotte: "Inside Truist's strategy for building out an investment bank that can compete with top Wall Street firms".


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 Post subject: Re: CHARLOTTE
PostPosted: Tue Mar 01, 2022 7:45 am 
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Posts: 613
Banks are slower to adapt to remote work than other companies. Partially, my hunch, is because they are dependent on commercial lending revenue streams, and they certainly don't want to lead the way to fully-remote and encourage others, reducing the need for office buildings and reducing income. I can tell you that banks, like everyone, are having a tremendously hard time retaining talent and some divisions are barely able to function with high turnover. Not to mention - candidates are ghosting interviews (even second and third interviews) and no-showing for their first day. It is a very strange labor environment we have found ourselves in.

Still, banks are slowly learning that you are not going to be able to compete in the current world by tying your talent to Charlotte. Of Truist's 1350 non-retail/branch banking open positions, 139 are listed as fully remote - slightly over 10%. Most of these are highly skilled tech positions.

I do suspect that investment banking will be more in-office moving forward, but competing with NYC is going to be very challenging there.


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 Post subject: Re: CHARLOTTE
PostPosted: Tue Mar 01, 2022 8:44 pm 
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I have a friend who managed the NYC Citigroup organization for mergers and acquisitions in the transportation industry segment and he was offered a position with Wells Fargo in Charlotte. He said their offer was an absolute joke and they wanted to use the “cost of living argument” to try to get him to move there with only a small increase in salary. He said they were very naïve if they think that argument will work with top investment banking people and he instead took a job with BOA back in New York. This made me wonder if this same issue is one of the reasons Wake was/is having problems improving their status within the world of medical schools, research, and teaching hospitals. I wonder if they tried to use the same “cost of living” argument in an attempt to entice top medical researchers and management to join the medical school here in Winston Salem. I would suspect the top people in the medical field are no different than those in the financial/investment banking world and they simply won’t consider joining an organization unless they are paid a salary commensurate with these same positions in other top (medical research/banking) cities around the country. This could be another (hidden) reason that Wake had no choice and made the move to open the second campus in Charlotte. Just a thought.


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 Post subject: Re: CHARLOTTE
PostPosted: Wed Mar 02, 2022 10:59 am 
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waggonera wrote:
This is an interesting article from "Business Insider" about Truist/BBT and what they are having to do regarding salaries to build up their banking staff in Charlotte: "Inside Truist's strategy for building out an investment bank that can compete with top Wall Street firms".


Not able to read the article but they're going to have to jump Everest size leaps and bounds for years to get anybody involved with finance to take them seriously in the IB world.


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 Post subject: Re: CHARLOTTE
PostPosted: Thu Mar 03, 2022 11:51 am 
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That must be coming from the Suntrust contingent. Never heard of any moves in getting involved in I.B. from John Allison, Kelly King & company.


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 Post subject: Re: CHARLOTTE
PostPosted: Mon Mar 07, 2022 7:04 am 
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I'm in banking and keep an eye on local job boards. I noticed that Truist's Winston-Salem "openings" tripled overnight, from around 30 job openings to around 90 job openings. This includes corporate positions in Marketing, Quant, etc.

Most of these jobs are not newly posted jobs; instead, Winston has been added as an alternate location. Most jobs were required to sit in Charlotte, and now list Winston and Atlanta as alternate locations. I've noticed similar activity at Wells Fargo.

This is my hunch from reading the tea leaves. The big banks are really struggling with attrition and hiring right now. On top of that, the talent pool in each city has become diluted with remote work options. For example: If you are Truist, you are now not only competing with WFB and BOA for banking talent in Charlotte, but your talent pool also has remote options at pWc, USAA, etc. Remote work is similar to e-commerce in that regard. Truist/WFB/BOA are your local retail stores that suddenly have to compete with Amazon. Before e-commerce, a retailer's competition was only really with other local retailers; suddenly, a retailer had to compete with virtually every other retailer in the world. Before the pandemic, the banks were really just competing with other banks with a local presence for talent; now they are competing with virtually every company in the world for talent.

Truist isn't quite ready to accept remote work moving forward, so to increase their talent pool, they become more flexible with their location strategy. A position that formerly had to sit in Charlotte now can sit in Atlanta or Winston. This is so fascinating to watch unfold in real time. Harvard Business School will certainly have plenty of cases to study on the aftermath of the pandemic and changing world of work.


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 Post subject: Re: CHARLOTTE
PostPosted: Mon Mar 07, 2022 8:22 am 
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It really will be fascinating to determine how all this remote work will reshape business both good & bad.


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 Post subject: Re: CHARLOTTE
PostPosted: Mon Mar 07, 2022 12:08 pm 
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So, why was it necessary to move to Charlotte? Was it Charlotte’s international reputation or a Sun Trust requirement for merger?


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 Post subject: Re: CHARLOTTE
PostPosted: Mon Mar 07, 2022 8:42 pm 
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yadkinv wrote:
So, why was it necessary to move to Charlotte? Was it Charlotte’s international reputation or a Sun Trust requirement for merger?


Both


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