Quote:
Originally Posted by BlindFatSnake
While I was there, I wondered what those few blocks would have looked like in Atlanta. Basically, if Atlanta hadn't lost the banking industry all those years ago, would Fairlie-Poplar look like Uptown Charlotte? 
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NOT... Fairlie-Poplar would look basically the same as it does today. But, Midtown would probably look all shinny and new like uptown Charlotte.
North Carolina's banking industry was light-years ahead of the nation when the U.S. government decided to allow banks to do business across county lines. NC had state-wide banking (across county lines) as early as the late 70s early 80s. Therefore, NC was well positioned to take over out-of-state banks when the banking industry was allowed to expand across state lines (regional banking), and finally national banking.
In other words, the rest of the nation was trying to duplicate what NC had been doing for decades... Now, that's a leg up on the competition and it is obvious why Charlotte became the 2nd largest banking town in the nation.
By the way, I can remember when the NY-based banks were in the top ten in the world, and sometime during the late 80s or early 90s the US banks were quickly slipping below the top ten. US banks were being out-classed by Japanese, Chineses and other foreign banks. Thus, the US instituted nation wide banking in phrases.
So, that's why uptown Charlotte is all shinny with new bank buildings. The downside is this: A one-horse town could easily ride into the sunset without other "industries" to make sure it will survive to live another day.
Half of uptown Charlotte (north of Fourth street) is dominated by Bank of America office buildings. While the other half (south of Fourth street) is dominated by Wells Fargo (formerly First Union/Wachovia) banking interest. Each banking giant has no less than five 30- 40- or 50-story buildings. In addition to the uptown towers, each banking giant has one 5,000+ employee center located in the suburbs where back-office jobs are centralized, which freed up prime office space for all those executives relocating to Charlotte due to bank acquistions...
By the way, I'm a native Charlottean, and now I live in Atlanta (a city I love a lot more than Charlotte due to the diversity of this city vs. Charlotte.

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Charlotte did lose half of it's banking dominance. Wells Fargo is headquartered in SF. You won't see a shiny new Wells Fargo tower in almost never (the bank doesn't spend money on big towers).