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The business of Charlotte was always business. The city began as a trading post at the intersection of two Indian trails, hosted America's first gold rush and first mint, and later blossomed into a transportation and textile hub. Charlotte's white leaders agreed to desegregation relatively early, concluding that...

Author: /time Magazine | Title: North Carolina's Financial Center is Riding High | 9/25/2008 | See Source »

In 1791, George Washington called Charlotte, N.C., a "trifling place." In 1941 an author scoffed that the city had as much use for high-rises "as a hog has for a morning coat." By 1991, Charlotte was still a minor-league city without major-league sports, a cultural wasteland with...

Author: /time Magazine | Title: North Carolina's Financial Center is Riding High | 9/25/2008 | See Source »

But there's no longer anything trifling about Charlotte. With $2 trillion in assets being managed from the glossy bank towers of Tryon Street, the city is now the nation's No. 2 financial center behind New York City. In early September, Bank of America, the behemoth of North Tryon...

Author: /time Magazine | Title: North Carolina's Financial Center is Riding High | 9/25/2008 | See Source »

"To understand Charlotte, you have to understand our ambition," says chamber of commerce head Bob Morgan. "We have a serious chip on our shoulder. We don't want to be No. 2 to anybody." Civic leaders often compare their city to New York, Chicago, and even London. On Sept. 11...

Author: /time Magazine | Title: North Carolina's Financial Center is Riding High | 9/25/2008 | See Source »

It can be jarring to hear Charlotte's power brokers explain that it's important to improve their city not for its own sake but for the sake of its businesses, which need high-quality culture to attract high-quality talent. But even if they sometimes make Charlotte sound like...

Author: /time Magazine | Title: North Carolina's Financial Center is Riding High | 9/25/2008 | See Source »

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