Updated: Well, I guess I have to write a retraction. The news cycle on this one was apparently only one day. My googling and I missed it. Here is some of the Charlotte Observer coverage 1, 2, 3, 4 stories. (supplied courtesty of this gentleman)
Latest example of a corporate newsletter masquerading as a newspaper...
Charlotte's most prominent employer, Bank of America announced on Friday afternoon the layoff of 700 people as it closes down its wholesale mortgage business. You would think that the announcement and reaction to it might at least make for an honorable mention in the Monday edition for Charlotte's paper of record. But you would be wrong.
This is a non-story for the BoA cheer-leading department at the Charlotte Observer. The lead photo story in today's on-line version is captioned, "2nd half fizzle dooms Panthers." The the lead story in the business section covers the critically important update on what the new Bobcat basketball arena might be named.
Interestingly, the business section front page does have a story titled, " Another bad week for mortgage industry". The story makes no mention however of the BoA layoff announcement.
You can also check the Charlotte Observer's banking news desk run by their crack team of investigative journalists. No details there either.
If you want to know the latest on what is going on at Charlotte's most powerful employer and newspaper advertiser, try the Boston or Chicago papers.
BTW: If you are in the market for a home mortgage this move by Americas second largest bank just might affect you.
![[Most Recent Charts from www.kitco.com]](http://kitconet.com/charts/metals/gold/t24_au_en_usoz_4.gif)
![[Most Recent Charts from www.kitco.com]](http://kitconet.com/charts/metals/silver/t24_ag_en_usoz_4.gif)
bofa never had good wholesale mortgage rates....i'm sure they're planning to buy countrywide to fulfill their wholesale side
Posted by: charlotte mortgages | October 29, 2007 at 04:09 PM