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 asked about what may turn out to be a Wachovia merger with Morgan Stanley.
The 30,000 or so locals who work for Bank of America Corp. and Wachovia Corp. just aren’t spending like they used to, said Wade Serhals, who sold the Tic Toc last week.
“Finance is the main industry in this city, so the whole street feels it when things slow down,” Serhals said after visiting the new manager yesterday, estimating sales were off 5 to 10 percent. “People are telling me they’re starting to pack their lunch.”
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