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Less than two weeks ago, as Bank of America execs were entertaining clients and employees over the roar of their namesake 500 mile NASCAR race at the Lowes Motor Speedway just outside Charlotte, the city's other hometown bank, Wachovia, was coming to terms with its own mortality...

Author: /time Magazine | Title: Charlotte Stays Optimistic After the Banking Fallout | 10/28/2008 | See Source »

...first time in more than two decades of unparalleled growth, the city that seemed impervious has taken a direct hit to its self-esteem. Certainly, losing a bank name that's been part of the North Carolina fabric since 1879 is a blow to Charlotte's psyche. But most see as bank's acquisition by Wells Fargo as the best case scenario for Wachovia. "We're disappointed that Wachovia won't remain independent but I believe the strength and stability of having Wells Fargo as a partner will be better in the long run," says Michael Smith of Charlotte Center...

Author: /time Magazine | Title: Charlotte Stays Optimistic After the Banking Fallout | 10/28/2008 | See Source »

...nation - even if the building's 1.3 million square feet went empty, the city would still be comfortably ahead of the national rate of 13.6%. Figures from the local chamber of commerce hold that even without Wachovia's contribution, Charlotte will remain the nation's second largest banking center behind New York; $3.3 trillion in assets alone come from the combined Bank of America and its recent acquisition of Merrill Lynch...

Author: /time Magazine | Title: Charlotte Stays Optimistic After the Banking Fallout | 10/28/2008 | See Source »

...everywhere. "Few among Beijing policymakers are arguing to build more walls between China and the outside world when it comes to trade or financial markets," says one western diplomat who attended the ASEM meeting last week. Officials in Beijing are quick to point out that key policymakers at the Bank of China, the National Development and Reform Commission and the Ministry of Finance are all reform minded. Many hold advanced degrees in economics or business from the U.S. (though "these days they don't advertise that as much as they used to," one young Ministry of Finance source jokes.) They...

Author: /time Magazine | Title: China Stays Its Capitalist Course | 10/28/2008 | See Source »

...wander in the weeds-literally- in search of displaced voters. The hunt revealed that some voters in Democratic precincts may have been displaced by the storm, but it also gave Lampson an opportunity to emphasize his responsiveness by bringing in staffers and support services, including a mobile congressional phone bank with links to government aid agencies. Both sides suspended their campaigns for much of September, but Lampson kept a high profile during the Ike recovery, his face on television side by side with a phalanx of local and state officials, both Republican and Democrat, addressing the crisis...

Author: /time Magazine | Title: Races to Watch: A Texas Dem Tries to Keep DeLay's Seat | 10/27/2008 | See Source »

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