Economist: Wachovia deal “big blow” to NC

The Charlotte Business Journal reports NC State economist (and Weekly Post columnist) Mike Walden thinks Wachovia’s takeover by Citigroup will hurt Charlotte and North Carolina’s economy.

He expects Wachovia’s investment bankers will either lose their jobs or be moved to New York. For every job lost in Charlotte, Walden expects up to another one-half job to be lost.

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