Top 5 Charlotte Stories from 2008
January 1st, 2009 Categories: About Charlotte, Charlotte News and Politics
Charlotte North Carolina The Big 5 News Stories of 2008
Wachovia- One awful decision
the purchase of Golden West in 2006, brought Wachovia down and forced it into its shotgun wedding with Wells Fargo. “Golden” as it was called had a large branch presence on the West Coast, and a large sub-prime portfolio, Wachovia was able to buy the branches and a $120+Billion dollar loan portfoli for $25B…. seemed like such a deal. One problem, Golden was a huge palayer in the california sub-prime and “pioneered” the worst loan, the ‘oick – a payment”, and, did I mention they were in California? It is estimated that something more than $45B of these loans are non-perfoming and worth only a fraction of their face value. Put on your wedding dress.
Charlotte’s Light Rail Success- Lynx had a great year
The first 9 mile line has been open only a little more than a year and has crushed all ridership expectations by far, even the most optimistic, and became a national story for supporters of mass transit. Ridership has reached 2018 levels and the problems are finding enough parking at the stations. Before you ascribe it to the high cost of gas, the largest increases in ridership occured Before gas prices skyrocketed in the summer. They have since continued.
Barack Obama He made history here in North Carolina too, but his margin of vicotory may have been eeked out here in Mecklenburg County. Mecklenburg has voted blue the last several Pressidential elections (atleast 2) but for the first time in 36 years, North Carolina voted for a Democrat for President. The reliable south is not so reliable for the Republican party any longer. (see #5 below)
Long-Time Mayor Pat McCrory comes close in Governor’s race, won’t seek re-election
Mayor Pat as he liked to be know has served the city of Charlotte well in his 13 years as Mayor of Charlotte. He took the lead on transit and tirelessly advanced it against opposition mostly from his own party, and then did the same building the arena Uptown and bringing the Bobcats to Charlotte. He was not afraid to anger his Republican base, or to anger the Democrats, in his desire to do what he thought best for Charlotte’s future.
In a strongly Democrtic year, he almost upset the heavily favored nad extremely well-financed Governor-elect Bev Perdue (D), taking the election to the wire. After the loss, he annnounced he would not seek another term as Mayor. Time to move on, Thanks Pat for the leadership you have provided. PS I’ll vote for you for Congress.
North Carolina elects a female Governor, and a female Democratic Senator,
Governor Bev Perdue and Senator Kay Hagan. Bev Perdue was the favorite but had to push back a surprisingly strong challenge from Mayor Pat, but Kay Hagan was not. Senator Hagan rose from relative obscurity to defeat the well known and well financed incumbent Elizabeth Dole (R). In a Senaotial seat held by Jesse Helms for decades, then Dole, this Democratic win plus Obama’s narrow statewide victory amounts to a political Titanic for the NC Republican Party.
The last several recessions, Charlotte has not participated. We are in this one, but still the strong, optimistic leadership from the Mayor, the business community, and the people who live her promiseto soften the blows of recession here, providing a brief pause to Charlotte’s growth and contiuned increased influencin state and regional politics.
Atlanta may be the capitol of the New South, But Charlotte’s the heart of the New South.
—-
The UnSung National Story You Probably Missed for 2008…
This caught my interest- one that many may have missed, but if you or a loved on has had cancer or died from cancer, it looks like the tide has turned in the War on Cancer.
For the first year ever, new cases of cancer, AND people dying of cancer in the United States went DOWN in 2008.
————————-
Charlotte NCÂ Terry’s Introduction to Charlotte, Over 10,000 views You Tube views-#1 for a search Charlotte NC,
About Charlotte NC Charlotte Homes For Sale  Charlotte Luxury Homes For Sale First Time Home Buyers
Charlotte Buyer Agents work only for you. 704-351-1519. Like what you are reading? Sign up for RSS, Real Simple Syndication.  Create your own newspaper, I strongly recommend the Google Reader. You’ll love it!
Terry,
Those are big- Wachovia and light rail.
Terry,
A good wrap up,A big D year in NC and the Lynx has done well- now just for Charlotte real estate to do a bit better. Tell your Congresswoman- Just Say yes To a Housing Stimulus