
No banks here!
On Friday, WaMu, or Washington Mutual, in the throes of bankruptcy was purchased by JP Morgan. In a fit of emotion, Wachovia stockholders started to sell! Wachovia’s stock dropped by 27% in one day. Wachovia then announced that they were thinking about selling to one of three companies. That was how the day closed on Friday.
During the weekend, it was announced that Wachovia had sold off part of its bank; the part with the heavy debt for a whopping $1/share. Citicorp, for a cool $2.1 billion dollars bought about $21 billion dollars worth of Wachovia. Not bad, 10 cents on the dollar … a fire sale!
So what does this have to do with photography, me, or anything else? Well, my wife works for Wachovia and it looks like her job will be either eliminated or moved to NYC in the coming months. We never know how fast these things happen. Actually, the sale still needs to be approved by both boards and whatever regulators get involved.
In the mean time, it’s good to be out of financial toilet, A.K.A. Charlotte, NC. When we first moved there, we at least had the vision to say that if anything bad happened in banking that we might have to go out of town to get jobs … so, here I am. It’s great to have a camera, to escape the cares of the world for a few moments, to contemplate the river, if only for a few moments. Soon, it will be time to rebuild, help my wife find a new job (No, we won’t be moving to Charleston anytime soon!), and continue on with life.
So, at first, coming to Charleston seemed like a not-so-good-idea, but necessary. No, in light of recent events, it seemed like a very good idea, indeed!
It has been an interesting few years, to say the least!








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