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mallguy

Bank Turmoil- Effect on Retail?

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What's the word on the street about how Wachovia's buyout and BofA's changes (such as its acquisition of Merrill Lynch) could affect Charlotte's retail scene?

I'd assume that the Neiman Marcus at SouthPark would have a good chunk of its client base as the spouses, service providers and employees of the investment bank parts of Wachovia and BofA, and that it's good that the luxury retailers came to SouthPark before this turmoil hit, but am I right on that?

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What's the word on the street about how Wachovia's buyout and BofA's changes (such as its acquisition of Merrill Lynch) could affect Charlotte's retail scene?

I'd assume that the Neiman Marcus at SouthPark would have a good chunk of its client base as the spouses, service providers and employees of the investment bank parts of Wachovia and BofA, and that it's good that the luxury retailers came to SouthPark before this turmoil hit, but am I right on that?

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I'm not sure how the BofA acquisition of Merrill applies here. Almost all of BofA's investment bank was moved to NYC during 2004-2007 and most of what remains here is the retail bank and corporate operations.

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