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Time for bonus round at banks

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bank of america, mecklenburg, wachovia, wachovia's

Published Feb. 9, 2010 at 8:32 a.m.

Bank bonuses are bouncing back, at least to some extent ... To be sure, they're not climbing to the heady levels of three or four years ago. And for many bankers, a bigger portion of their bonus pay will be tied to company stock and isn't immediately spendable, a nod to populist anger about perceived fat cats on Wall Street. Still, there is some cause for celebration inside the Charlotte towers of Bank of America and Wells Fargo ... At Bank of America, employees have been learning this month

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A year after Wachovia's fall, optimism picks up

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Published Sept. 28, 2009 at 5:39 a.m.

(By Rick Rothacker and Kirsten Valle, rrothacker@charlotteobserver.com and kvalle@charlotteobserver.com) ... Looking back on last fall's financial crisis, former Wachovia general counsel Jane Sherburne said it's disappointing that executives scrambling to salvage the tottering Charlotte bank had to sell it to Wells Fargo to save it ... But, considering the fate of other failed firms, she's convinced the bank could have suffered worse: a government dismantling or a complex sale to Citigroup ...

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They're cutting back, but not on saving

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Published July 5, 2009 at 5:58 a.m.

(By Cameron Steele, cameronsteele@charlotteobserver.com) Chad Crockford, 27, still splurges on going out with friends on the weekends, entrance fees for road races and the wedding he and his fiancee have planned for next year ... But he says he's stopped going out to eat, cut back on grocery spending and doesn't go to movie theaters ... Like many Americans, Crockford, a lawyer with Legal Aid of North Carolina, is saving more because of the recession. He says he saves 9 percent of his $40,000

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Former Wachovia exec going to SunTrust

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Published June 15, 2009 at 5:09 p.m.

(By Rick Rothacker, rrothacker@charlotteobserver.com) ... A Wachovia Corp. veteran who previously led community banking operations at the Charlotte-based bank has left the combined Wells Fargo & Co. for a post at SunTrust Banks Inc., the banks confirmed today ... Starting in mid-July, Bill Holt will become head of business banking at Atlanta-based SunTrust, SunTrust spokesman Hugh Suhr said. Holt had long run banking in small towns for Wachovia but he had taken a business banking position in the

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Wells Fargo launches ad campaign

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wachovia, wachovia's

Published June 1, 2009 at 12:57 p.m.

By Rick Rothacker ... rrothacker@charlotteobserver.com ... Wells Fargo & Co. launched an advertising campaign Sunday that will become the new marketing pitch for the San Francisco-based bank and for Wachovia Corp., the Charlotte bank it bought last year ... The campaign began in the New York Times and the Wall Street Journal and will also include ads in regional publications, spokeswoman Mary Beth Navarro said. Later this month, the campaign will expand to TV, radio, billboards and online ...

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In second act, Ken Thompson working for N.Y. firm

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Published May 28, 2009 at 5:22 a.m.

Former Wachovia chief executive Ken Thompson has joined a New York investment firm as a senior adviser, setting the stage for a second act in a financial services career tarnished by the Charlotte bank's near collapse and sale last year to Wells Fargo ... A year ago next Tuesday, Wachovia made the stunning announcement that its board had ousted Thompson amid rising losses from his Golden West Financial acquisition and other missteps. Less than four months later, as the financial crisis deepened,

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Microsoft CEO knows Charlotte's place to be

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wachovia, wachovia's

Published April 30, 2009 at 7:09 a.m.

Take this, Research Triangle Park: Microsoft Corp. CEO ... Steve Ballmer is coming to the Queen City in June ... He'll speak in Charlotte as part of the N.C. Technology Association's Charlotte conference. The event, June 19 at the Hilton Charlotte Center City, is called “Leaders Driving Change Through Technology: What's Next?” ... During the conference, local business leaders and city officials will talk about the future of information technology and the importance of innovation, the

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