Capital Bank's Raleigh HQ

[Merboy]

http://www.newsobserver.com/2011/02/20/999754/capital-izing-one-deal-at-a-time.html

I know we already know about this but this is an interesting and in-depth article on the situation. I think the last quote by Taylor sums up their whole situation and aim.

[citiboi27610]

Thanks for the article. Seems to be a promising future for Capital Bank and its presence in and beyond Raleigh.

[Jones_]

I would love to see Capital Bank out grow 333 Corporate Plaza. The old Lichten site would be a nice spot for an expansion building.

[DwnTwnRaleighGuy]

In regards to Capital bank, can someone please explain to me what does a "holding company" do that the headquarters doesn't? If Capital's hc is in Charlotte but it's HQ is in Raleigh, where does the board of directors meet? Back room operations? Most of the executives work? Please and thank you!

[DwnTwnRaleighGuy]

Raleigh looses Capital Bank headquarters to Miami, Fl!!!!!

Yet another lose for Raleigh....

[Gard]

Raleigh looses Capital Bank headquarters to Miami, Fl!!!!!

Yet another lose for Raleigh....

Link????

I have found absolutely nothing online about this....not even a google search brought any results...

Edit: Nevermind...found it.

http://www.bizjournals.com/triangle/print-edition/2011/04/29/capital-bank-headquarters-going-to-miami.html

[DwnTwnRaleighGuy]

A number of years ago "downtown" Raleigh lost the headquarters of First Citizens Bank to North Hills! Now "downtown" Raleigh has lost the headquarters of Progress Energy, Capital Bank, and most likely RBC Bank! I know that taking each of these individually makes sense and can be "justified" but, in the larger picture, why would Red Hat move to a "downtown" that is fast being deserted, sold out or just plain left for dead?

[DPK]

why would Red Hat move to a "downtown" that is fast being deserted, sold out or just plain left for dead?

The thing is though, that if Red Hat moved downtown others would follow them. Tech companies tend to go where other tech companies are. Look what Red Hat has done for Centennial Campus for example. Also I don't think losing the HQ for a couple companies is going to leave downtown for dead. There is still a lot to do in terms of shopping, eating, and entertainment.

[Jones_]

Downtown is not being left for dead and corporate involvement is only part of the equation. I would argue that the people that live there set the tone to a much larger degree, though that is not what makes the headlines. As far as headlines go, if Red Hat comes downtown, that more than offsets the loss of the other three.

[Gard]

I have to agree with DPK and Jones here. I really don't think that it would be an abandonment of DTR. On the RBC potential sale, remember that it is still just that, potential. There is actually a good article on it, which from what the article says, leads me to believe that RBC will likely not do an outright sale of the bank, but rather find a partner in the operations, so of turning RBC Bank into a joint venture of sorts. For instance, RBC could sell Barclays a 49% stake in the bank, which would benefit RBC by reducing the amount of losses on their books from the bank (each partner would report on their share of losses), allow them to retain control of the bank, allow RBC Bank to draw on the financial strength of two parents to be more aggressive in expansion and when the economy picks up again, and the bank is going strong, RBC could buy out the partner's stake. An outright sale of the bank would incur significant losses for RBC, making this option even more of a possibility.

http://www.theglobeandmail.com/globe-investor/rbc-fields-offers-for-us-retail-business/article1974736/

[Gard]

Now this article from the N&O, dated today, 4-30-2011, contradicts what Triangle Business Journal is reporting. According to the article:

For regulatory purposes, NAFH is based in Miami - as is North American Financial. But for all practical purposes the Capital headquarters remains in Raleigh, Marshall said.

"We have no intention whatsoever of moving our headquarters from Raleigh," he said.

Marshall said that all the major headquarters functions currently based in Raleigh will remain here. "And," he added, "there is a high likelihood jobs will continue to migrate to Raleigh as we buy other (banks)."

Read more: http://www.newsobserver.com/2011/04/30/1164975/capital-bank-merger-okd.html#ixzz1L1wSu1g7

[NcSc74]

Man tough 2011 for Raleigh. I hate to see this type of stuff.