Wachovia

A rather harmless sounding name, isn't it? Evoking images of country-club couples thrilled to be part of the dinner party circuit, painstakingly groomed and coiffed in an effort to avoid being grist for the gossip mill, the clink of fine China and crystal and the low hum of conversation eventually silenced so the cause du jour can be addressed. That may sound like a cynical assessment, but it's not. Philanthropy of this nature has brought relief to millions in this world, and we need more of it. But that formula can also be used to manipulate the outcome of elections, leaving us with a government that represents a much smaller percent of the population.

This Friday afternoon in downtown Charlotte, please join hundreds of faith leaders, advocates for social justice, students, and progressive activists from across the southeast to demand REAL financial reform.

History of Grey Rock

Land Resource, LLC purchased the 4,000 acre Grey Rock tract for less than 12 million dollars in 2003. Wachovia financed the acquisition.

Official land sales for Grey Rock, a yet-to-be developed mountain residential community located in Rutherford, North Carolina, commenced over the spring weekend of April 28-May 1 2005. The 900 home sites were priced from $200,000 to $700,000. (Court records show that in April 2005 Land Resource had received $15,693,000.00 from earlier sales.)

I wonder how much G. Kennedy Thompson got in severance for driving Wachovia into the toilet over the past year. Who knows, maybe he'll go to work on McCoal's gubernatorial campaign as a fundraiser! Heh.

Gotta love those free markets.

WACHOVIA BANK CORP - Riches for CEO, Unemployment for workers -

Wachovia CEO gets $18 Million March 10, 2007. CHARLOTTE - The chairman and chief executive of Wachovia Corp., Ken Thompson, received compensation that the company valued at nearly $18.4 million in 2006, according to a regulatory filing yesterday.
http://www.journalnow.com/servlet/Satellite?pagename=WSJ%2FMGArticle%2FWSJ_BasicArticle&c=MGArticle&cid=1173350135956&path=!business&s=1037645507703

AND, SOON TO OUTSOURCE NORTH CAROLINA PROCESSING JOBS TO INDIA

Businessweek JANUARY 30, 2006

Wachovia will have outsourced 500 to 1,000 jobs, with plans to move an additional 3,000 or so by the end of 2007. ..Most, but not all, of those jobs are going to India....