Since 'God Made a Banker,' Charlotte Must Be Heaven

One of the most popular and top-rated commercials during this year's Super Bowl was the "So God Made a Farmer" commercial by Dodge Ram. The two-minute spot featured a voiceover from a speech delivered by legendary broadcaster Paul Harvey in 1978, and was paired with beautiful countryside photos of farms and farmers that looked like they'd been run through Instagram filters.

While that commercial may have pulled at Americans' heartstrings, it's also sparked some parodies. One of the latest is "So God Made a Banker" by Brett Arends for MarketWatch. While it isn't set to video or audio (yet), you're asked to "read in the voice of Paul Harvey."

The column features such standout lines as:

God said, “I need someone who doesn’t grow anything or make anything but who will borrow money from the public at 0% interest and then lend it back to the public at 2% or 5% or 10% and pay himself a bonus for doing so.”

So God made a banker.

God said, “And I need somebody who will tell everyone else to stand on their own two feet, but who will then run to the government for a bailout as soon as he gets into trouble — and who will then use that bailout money to help elect a Congress that will look the other way. And then pay himself another bonus.”

That verbiage got me thinking: Since God made a banker, then Charlotte must be heaven. Because this city makes (has) a lot of bankers, as the second largest banking center in the country. And I guess the intersection of Trade and Tryon streets in Uptown would be the pearly gates. And Billy Graham Parkway is, well...

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Bank of America Experimenting with Mobile-Wallet Technology in New Pilot Program

It's scary sometimes to think about how much we use our mobile phones. In fact, one day soon we should start calling them something else because the phone--in terms of actually talking on the device--is becoming less and less of what we use them for. In addition to all of the texting, web browsing, social networking, picture taking and uploading, video recording, etc. you use your smartphones for, the money is in, well, the money. I'm sure you use your phone to check your bank accounts and maybe even make payments or online purchases through the mobile web, but Bank of America is seeking to up the ante in the global market of mobile payments that's estimated to be more than $170 billion.

BofA has launched a pilot program that it's testing out only in Charlotte, in which a customer can pay at a store register by simply scanning an image with a smartphone. So, basically, instead of swiping your debit/credit card at a register (as if that's too difficult), you would have the clerk scan your phone, which you likely would be holding in your hand anyway (oh no, but that would mean you wouldn't be able to rudely talk on your phone while in the checkout line).

Bank of America has partnered with a Wellesley, Massachusetts-based startup company called Paydiant, which specializes in mobile-wallet technology. Only BofA employees are participating in the three-month trial period, and five Charlotte merchants/retailers are being used. You can read more about the pilot program in this Reuters article.

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Charlotte, Not to Be Confused with Charleston, 'Tech' Speaking

There are people who live in parts of this country, particularly the Midwest, West, or even far Northeast, who don't know much about southern states and cities because they've never visited the region. Some of those people are the ones who confuse Charlotte with Charleston. Sure, the first five letters of the cities' names are the same and they're both in the Carolinas, but, as you know, one is in North Carolina and the other is in South Carolina. And as landscapes, tourist attractions, and prevalent industries go, they couldn't be more different. To put it simply, Charlotte is more of a southern metropolitan city whose downtown boasts skyscrapers, condos, headquarters of large companies, and professional sports teams; Charleston is an historic coastal city with beaches, plantation-style homes, and revered for its food and arts festivals. I know I'm just summing up those cities very briefly and that they each have so much more to offer, but I've never thought the two cities had a whole lot in common.

Then I learned there's one thing Charleston has that I already knew Charlotte possesses: a burgeoning technology industry.

Fast Company published an article this week titled, "Introducing "Silicon Harbor": Charleston, SC, Home Of TwitPic And Amazon's CreateSpace," where it illustrates how and why Charleston is one of the top-10 fastest growing cities for software and Internet technology, despite being the 75th largest metro area in the U.S. "TwitPic and Amazon's CreateSpace count among the household names to emerge from Charleston. Additional prominent companies with footprints in the city include Blackbaud, Boeing, and Google," the article states.

It also goes on to describe some of the prominent tech startups and partnerships in Charleston. But you know what, Charlotte has many comparable entities:

• Whereas Charleston has the Charleston Digital Corridor to provide office space and support services, Charlotte has The Ben Craig Center and Packard Place.
• Charleston has notable tech companies and startups like PeopleMatter, BiblioLabs, and Benefitfocus, while Charlotte has DealCloud, Skookum Digital Works, Acrowire, and Appian, just to name a few from each city.
• While Charleston has Business Indigo to connect the tech community, Charlotte has the Charlotte Regional Technology Executives Council.
• And whereas Amazon acquired Charleston-based BookSurge and turned it into CreateSpace and kept the company there, last year Amazon also bought Charlotte-based voice-to-text technology company YAP Inc., but won't talk about it.

Now, there are a couple of things Charlotte can learn from Charleston in terms of growing its tech community. For starters, Charleston has given itself a cool name for the industry: "Silicon Harbor." Charlotte needs a moniker too. Any suggestions? How about "Silicon Bank"? Secondly, Charlotte needs to land a large technology company. Sure, Apple has built a new data center in Maiden, about 45 minutes northwest of Charlotte, and Google built a data center in Lenoir, but those are both large facilities mainly used to house servers. We need a large tech company in Charlotte, proper, where developers go to work every day. Charleston specifically uses state tax incentives and grant programs to target tech companies. But one area where Charlotte has an advantage, we have a lot more access to venture capital because of all of the current and former banking executives that live here and have started investment funds. Securing sources for capital is essential to startups' survival.

The Fast Company article talks about how software developers, engineers, and other techies are moving to Charleston because they're finding it to be a great place to live. That's the same case with Charlotte, as is illustrated in the video below on the tech community by the Charlotte in 2012 Convention Host Committee, as part of their Carolina Stories series.

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Charlotte Metro Credit Union Celebrates 50 Years, but Should Consult Don Draper

Charlotte Metro Credit Union is celebrating its 50th anniversary. Founded in 1962, it now has eight branches in the Charlotte area. It appears to me that business is good for CMCU, as it is likely experiencing some of the resurgence that many credit unions and small, local banks around the country have ever since the "big banks" helped cause the financial meltdown a few years ago, and as consumers have grown increasingly frustrated with the practices and fees by some of the large institutions. So as CMCU markets the benefits of its services and touts its 50 years of serving Charlotte, it has been doing so with a bit of an edge.

A TV commercial CMCU first aired in the local market on NBC during the Super Bowl took shots at the big banks, which, as you know, have a major presence in Charlotte. "Apparently there's no limit to what big banks will do for profits," says the voiceover as the commercial shows, what is presumed to be, a banker going around sucking money out of people's pockets with a vacuum. In this, as in several of CMCU's advertisements, it ends with the slogan "like a bank...only better."

A couple of days ago I came across the ad below on charlotteobserver.com, in which the square web ad reads: "Fidel Castro started something in 1962. So did Charlotte Metro Credit Union. Celebrating 50 years." I was like, "What, Castro?" Because the first thing that came to mind was the controversy stirred up recently by Miami Marlins manager Ozzie Guillén after his comments about Castro, which made it clear how it can be risky to associate yourself in any way with the polarizing Cuban leader.

I'm assuming the "Fidel Castro started something in 1962" line in the ad is referring to the Cuban Missile Crisis. Putting my Don Draper hat on for a minute (my new addiction to Mad Men manages to creep up often in my conversations), here's why the ad doesn't work. 1) Until I Googled, I didn't know what Castro did in 1962. Yes, I'm knowledgeable of the Cuban Missile Crisis, but the date it occurred isn't infamous like 9/11. 2) When you see the web ad as a solo piece of promotion for the bank, it makes you question the association with Castro. It wasn't until I did a little digging that I came across a second ad, that uses Gregory Peck, that I realized it's part of a series (see that ad below). "Gregory Peck defended something in 1962," it reads, referring to the late actor's portrayal of Atticus Finch in To Kill a Mockingbird. Again, it takes too much work for the consumer. I appreciate the cleverness of it, but the campaign falls short without a reveal--the ads should link to a promotion that gives more depth to the campaign--sort of like Google Doodles; instead, when I clicked on them they simply took me to the bank's homepage.

So, in short, the Castro ad doesn't work. I am, however, more fond of this 30-second commercial about CMCU's 50th anniversary. It shows quick glimpses of several historical figures and important moments from the 1960s, including John F. Kennedy, Jackie Robinson, Marilyn Monroe, a space shuttle launching, as well as a shot of Castro, a news clip of "The Cuban Crisis," and a marquee of Gregory Peck and To Kill a Mockingbird. The TV spot works because you're given the full context right away.

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Money Shot—Charlotte Chamber’s Economic Outlook Conference

The Charlotte Chamber held its annual Economic Outlook Conference yesterday at Charlotte Convention Center. You can read The Charlotte Observer article, "CEOs see slow economic growth in 2012," to learn what executives from five of the country's largest businesses and the Federal Reserve had to say about the economy. I just wanted to share one of the Observer's photos here because it shows how much money was in the room yesterday, which you can see from the six esteemed gentlemen on the stage (each of the corporations they represent are either headquartered in Charlotte or have a large presence here). There were also numerous CEOs, presidents, and other top executives in attendance.

Pictured from left to right: Jeffrey Lacker, president of the Federal Reserve Bank of Richmond; David Carroll, senior executive vice president of Wealth, Brokerage and Retirement Services for Wells Fargo; Brian T. Moynihan, president and CEO of Bank of America; Dan DiMicco, chairman and CEO of Nucor; Christopher Kearney, chairman and CEO of SPX; and Jim Rogers, chairman and CEO of Duke Energy. Photo by Jeff Willhelm/The Charlotte Observer. Click here to see full gallery.

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Verizon Commercial Spotlights Charlotte, Energy

I saw a cool new TV commercial tonight in which Charlotte, specifically its Uptown buildings, is the star. Verizon has rolled out a national campaign to promote how its "network of technology, people, and ideas" is benefiting businesses and communities. In the commercial featuring Charlotte, it highlights how the city is using "Verizon technology to inspire businesses to conserve energy and monitor costs, making communities greener."

The creative premise of the commercial shows a series of Uptown buildings being honored as employee of the month inside their respective offices. Those include the new UNC Charlotte Center City Building and NASCAR Hall of Fame, among others. Watch the video below.

If you visit the Verizon website dedicated to this campaign, verizon.com/plus, and click on the "Energy" tab, it takes you to several resources, including white papers and case studies on smart grid and cloud technology. There's also a link to Envision Charlotte, an initiative led by Duke Energy's Smart Energy Now program that uses digital grid technologies to display real-time energy data throughout Uptown, to create awareness and encourage behavioral change. The goal of this initiative is to cut energy use in Uptown by up to 20 percent by 2016. Several major corporations and organizations have partnered with Duke Energy on this, including Bank of America, Wells Fargo, Cisco, Verizon, Mecklenburg County, the City of Charlotte, and others.

Plans for Envision Charlotte have been in the works for the past year, and the campaign officially kicked off last Friday (click here to read The Charlotte Observer article). Below is a video from last year, in which former President Bill Clinton announces Envision Charlotte at the 2010 Clinton Global Initiative Annual Meeting. He's joined on stage by Duke Energy CEO Jim Rogers, Cisco CEO John Chambers, Mayor Anthony Foxx, and Charlotte Center City Partners President Michael Smith.

All of this strengthens the momentum Charlotte has been building over the last few years to grow its energy sector. Several local leaders want the city to be known as an energy hub as much as it is known for banking, and the motivation behind energy is propelled by the possibility of job creation, in addition to environmental sustainability.

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Wells Fargo Community Celebration Saturday—Huge

Wells Fargo, which recently completed its conversion of Wachovia signs and banking locations to Wells Fargo nationwide with Charlotte and North Carolina being the final changeovers this month, is throwing the largest cultural arts festival I think this city has ever seen. The Wells Fargo Community Celebration takes place this Saturday in Uptown Charlotte, featuring more than 60 performances and events, and it's all free to the public.

Wells Fargo, which now employs about 20,000 people in Charlotte and nearly 30,000 in the state thanks to its acquisition of Wachovia, has partnered with the Arts & Science Council (ASC) and Charlotte Center City Partners for this all-day celebration. There will be live art demonstrations, a street festival featuring LEGO sculptures, a chalk art competition, stage plays, dance shows, and concerts such as those by Nicci Canada and headlining act, jazz great Branford Marsalis.

Branford Marsalis headlines the celebration Saturday. Credit: facebook.com/branfordmarsalis.

Wells Fargo is also underwriting free admission into several Uptown cultural facilities on Saturday, including: Bechtler Museum of Modern Art, Discovery Place, Harvey B. Gantt Center for African American Arts + Culture, Levine Museum of the New South, McColl Center for Visual Art, The Light Factory, and more. Plus, the celebration will commemorate the opening of the Wells Fargo History Museum in Three Wells Fargo Center, which honors Charlotte and North Carolina's rich banking heritage in addition to telling the history of the San Francisco-based bank.

The main hub for the activities will be the Levine Center for the Arts, so you'll want to make your way there Saturday as a starting point. CATS Gold Rush, the free center city trolley on wheels, is operating a special route to help attendees maneuver easily to the various facilities and events. You can find a detailed list of all of Saturday's events here on the ASC's website, including this printable event guide and information on parking.

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What's up with Occupy Charlotte?

I've been following the national news coverage of the Occupy Wall Street movement over the last three weeks or so. And as the rallies and protests spread from New York to other major cities like Boston, Chicago, Washington D.C., and Los Angeles, so did the national media's inclusion of those cities in its coverage. But I hadn't been hearing any mention of Charlotte. Surely the citizens of this country's second largest banking city would get involved, right?

Well, the Occupy Charlotte movement appears to have been quietly building momentum for about two weeks, and this past week and this weekend made its biggest showing yet. An estimated 500 protesters gathered in Uptown Saturday and marched from the old City Hall on East Trade Street to the Bank of America headquarters on Tryon Street. Some even slept outside overnight to continue the rally today. So Charlotte's efforts finally got mentioned in news stories by The Wall Street Journal, ABC News, and others over the last 24 hours.

Supporters of Occupy Charlotte gathered in Uptown Saturday. Photo by Enid Valu.

Occupy Charlotte protesters reportedly will also march to the Charlotte City Council meeting Monday. So you'll likely see a lot more local coverage in coming days.

Like many of you, I'm curious to see how this movement progresses nationally and what the overall objectives are. I know the participants are largely rallying against the corporate greed that has ruined this economy, but Occupy Wall Street--and the groups that have spun-off--have been criticized for not having a conventional leader nor a clear organizational structure.

As for Charlotte, I'm a little skeptical about the impact the movement will have here because this city does not have a strong history of successful grassroots organization in the name of protests. This has long been a buttoned-up town. And despite what many across the country might say about the evils of the financial industry, the big banks--Bank of America and Wachovia-turned-Wells-Fargo--have done a lot of great things for this city. You don't want to bite the hand that feeds you, but at the same time a lot of people are already starving (and have lost their jobs and homes) because of some of the greedy and shady practices banks and other big corporations engaged in for years.

Keep up with the Occupy Charlotte movement at these links:

• OccupyCharlotte.org
• Occupy Charlotte on Facebook (there are a few pages set up but this one has the most fans)
• Twitter @OccupyCLT
• #OccupyCharlotte hashtag

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New York Times Reviews 'Banktown' and City

In the Sunday edition of The New York Times, the venerable newspaper reviews Banktown: The Rise and Struggles of Charlotte's Big Banks, a book released this month that was written by The Charlotte Observer reporter Rick Rothacker. The Times review is quite lengthy and you realize it's as much a book review as it is a business article and that this book is as much about Charlotte as it is New York. It was, after all, Charlotte that was home to two of the country's biggest banks, becoming an unlikely financial district that puzzled New Yorkers.

As is evident by the review, titled "Big Banking, Southern Style," the book contains a lot of what we in Charlotte have known for quite a while, such as how Bank of America and Wachovia's Tryon Street rivalry built their balance sheets while simultaneously building this city. And then there's the ugly reminders:

“Bank of America and Wells Fargo remain formidable corporate players in the city,” Mr. Rothacker says, and Charlotte also possesses a range of other financial firms. But it remains to be seen, he says, “whether or not the city can replace the salaries of high-paying bank jobs” that it has lost.

The Times review goes on to say that Banktown reveals a lot of details from court documents and securities filings, as well as provides great insight from Hugh McColl. But in the most stinging line of the review it states:

The “Banktown” saga has all the elements of a compelling tale of high finance. Unfortunately, the writing fails to rise to the drama of the occasion.

Banktown is available at many major bookstores and at Amazon.com.

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'Wachovia's Drug Habit' Revealed in Magazine

You've been hearing a lot lately about how increasingly deadly and powerful Mexican gangs and drug cartels are becoming, and how they're impacting the U.S. border. Well, in the August issue of Bloomberg Markets magazine, it reveals how over a three-year period Wachovia was used by drug cartels to launder money. Several U.S. banks are implicated, but Charlotte-based Wachovia, which is now own by Wells Fargo, sits atop the heap. It's reported that Wachovia handled $378 billion (yes, billion) in illegal funds for Mexican-currency-exchange houses from 2004 to 2007. And that's said to be the largest violation of the Bank Secrecy Act, an anti-money-laundering law, in U.S. history.

Also playing a role is Charlotte-based Bank of America. This is depicted in a scene during an incident in 2006 when law enforcement search a jet at an airport in Mexico: They found 128 black suitcases, packed with 5.7 tons of cocaine, valued at $100 million. The stash was supposed to have been delivered from Caracas to drug traffickers in Toluca, near Mexico City, Mexican prosecutors later found. Law enforcement officials also discovered something else. The smugglers had bought the DC-9 with laundered funds they transferred through two of the biggest banks in the U.S.: Wachovia Corp. and Bank of America Corp.

The article says that Wachovia, which federal prosecutors charged, ignored signs that drug cartels were funneling money through its banks. It also goes on to state that since 2006, more than 22,000 people have been killed in drug-related battles that have occurred mostly along the 2,000-mile border that Mexico shares with the U.S.

Read more about the Bloomberg article by clicking here.

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Hugh McColl Always Seems to Know What He's Talking About

There was so much national media coverage of Bank of America's shareholders meeting last week in Charlotte, you would've thought the meeting wasn't an annual occurrence. But, of course, the economy--and the state of banks specifically--isn't where it was a year ago and people's concerns are at an all-time high. As you know, Bank of America CEO Ken Lewis was stripped of his chairman title at the meeting, which was said to have drawn 2,200 shareholders inside Belk Theater at the start of the contentious, four-hour session.

Offering an interesting perspective on the day's event and insight into what's to come was former BofA CEO/chairman Hugh McColl, who is credited for creating the blueprint for the behemoth the bank is today, before retiring in 2001 and being succeeded by Lewis. In this video below, Bloomberg News interviews McColl outside of the shareholders meeting. Even though he dodges a few questions, I like how McColl always speaks so matter-of-factly.



We can expect another storm to brew later this week. The results of the federal government's "stress tests" of 19 U.S. banks are scheduled to be released Thursday.

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Events for the Week: April 20-26

Your best weekly list for parties, nightlife, social, and cultural events in Charlotte. This isn’t intended to be a complete list of everything that's going on, but instead are the events GPT recommends.

Wednesday, April 22

Neo Soul Listening Party (weekly event)
This soulful evening is hosted by V101.9 personality Chirl Girl. Featuring live music by Kobi Keys and Company. 6-10 p.m. Free. Utopia Restaurant, 10210 Berkeley Place Dr. www.utopianc.com.

Pop Life (weekly event)
It’s the most popular social networking event on a Wednesday night. Starts after work but runs past midnight. This week is the “Eco-Chic Edition” in celebration of Earth Day and guests are asked to wear green. Music by select DJs. Sponsored this week by Sotac-I. Presented by Creative Loafing and The Sol Kitchen. 6 p.m.-1 a.m. Free. Apostrophe Lounge, 1440 S. Tryon St. www.apostrophelounge.com.

Thursday, April 23

Alive After Five (weekly event)
The newly combined Alive After Five launches at its new home, the EpiCentre. Enjoy live music by Celebration Club and plenty of drinks from cash bars scattered throughout. This will be Charlotte’s largest weekly outdoor party. Wristbands get you into Blackfinn, Whisky River, Suite, and StrikeCity. 5-9:30 p.m. Free. Pavilion at EpiCentre, 210 E. Trade St. www.aliveafterfiveatepicentre.com.

Friday, April 24

Friday Afterwork Rendezvous (weekly event)
End your workweek on a high note at this networking party, held at a different venue each week. Enjoy drink and appetizer specials and live music by Peace & Love Jazz Soul Band. DJ Daddy D on the turntables. Presented by Talk of the Town. 6-11 p.m. Free. Utopia Restaurant, 10210 Berkeley Place Dr. www.utopianc.com.

Fall Out Boy and 50 Cent
See rock and hip-hop’s finest in one night. Charlotte is one of only a handful of stops on Fall Out Boy’s Believers Never Die Tour where 50 Cent is performing. 7 p.m. $30. Bojangles' Coliseum (formerly Cricket Arena), 2700 E. Independence Blvd. www.bojanglescoliseum.com.

The Heart of Motown
Join Albert-George Schram, the Charlotte Symphony, and the four-member vocal group Spectrum as they recreate the “Motown Sound.” Spectrum, the country’s leading Motown tribute band, will perform favorites by the Temptations, the Four Tops, the Spinners, and more. Party afterwards at the historic Excelsior Club (921 Beatties Ford Rd.). Sponsored by Opus X. 8 p.m. $35, includes concert ticket and admission to Excelsior. Belk Theater, Blumenthal Performing Arts Center, 130 N. Tryon St. www.blumenthalcenter.org.

Spring Bliss
It promises to be a “progressive and exclusive crowd” at Charlotte’s newest nightclub. Music by NYC’s DJ Magic and Power 98’s DJ Danny Diaz. Presented by the Sol Kitchen, Simmons Media, and LV Productions. 9 p.m. Cost varies, ladies free before 11 p.m. Décor 1202, 1202 Charlottetowne Ave. www.thesolkitchen.com.

Yin and Yang Part II: The Black and White Party
Come dressed to impress in your best black and white attire. The party is sure to be live from the bar to the patio and look for many of Charlotte’s movers and shakers among the mostly 30-and-older crowd. Music by DJ C-Rob. Presented by Digital Divas. 10 p.m. $10 in advance, more at the door. Sunset Club, 1820 South Blvd. www.digitaldivasevents.com.

Saturday, April 25

Foreclosure Prevention Event
The Federal Reserve Bank of Richmond is partnering with HOPE NOW and NeighborWorks America in sponsoring a public event to address the home foreclosure problem. Homeowners will have the opportunity to meet individually with their mortgage servicer and housing counselors to discuss feasible options to avoid foreclosure. Throughout the day, certified housing counselors will offer educational workshops on foreclosure prevention and credit counseling. 9 a.m.-3 p.m. Free. The Park, 2500 E. Independence Blvd. www.richmondfed.org.

Art and Soul of South End
This annual two-day festival showcases the beauty and culture of historic South End. Enjoy artworks from more than 75 of the region and country’s best artists along with live music and dance and great food from vendors. 10 a.m.-7 p.m. Free. A block party follows with performances by Erika Blatnik, Go Go Pilot, Volatile baby, and The Hot House Hefftones. South End, Camden Road from East Boulevard to Tryon Street. Take the light rail. www.artandsoulofsouthend.com.

I.O.U.S.A. Film Screening and Panel Discussion
Join GenerationEngage and Delta Sigma Theta Sorority, Inc. as they present a screening of I.O.U.S.A., a film that boldly examines the rapidly growing national debt and its consequences for the United States and its citizens. Immediately following the film will be a panel discussion with U.S. Representative Mel Watt; Craig Dipken, associate professor of economics; and Tanya Dial Bethune, Mechanics and Farmers Bank. 4 p.m. Free. Cone Center (room 210), UNC Charlotte, 9201 University City Blvd. www.generationengage.org/state/chltt.

Something Green
Part 1 (9-10 p.m.): Get informed through a discussion with local elected officials and experts on opportunities in the Green Economy. Part 2 (10 p.m.-1 a.m.): Party and birthday celebrations for Q92.7’s Ifé Moore, Rod Garvin of GenerationEngage, and Jason Bennett. Music by So So Def’s DJ Avi-X. Arrive early and get a free compact fluorescent light (CFL) bulb that uses 75 percent less energy. Presented by Six Figure Entertainment and GenerationEngage. 9 p.m.-1 a.m. Cost varies, reduced admission before 9:30, VIP available. Chima Brazilian Steakhouse, 139 S. Tryon St. www.sixfigureentertainment.com.

Sunday, April 26

Art and Soul of South End
This annual two-day festival showcases the beauty and culture of historic South End. Enjoy artworks from more than 75 of the region and country’s best artists along with live music and dance and great food from vendors. 10 a.m.-5 p.m. Free. South End, Camden Road from East Boulevard to Tryon Street. Take the light rail. www.artandsoulofsouthend.com.

Heaven On Earth: An All White Affair
It’s a party for college students—celebrating the graduating class—and twenty-somethings. Presented by Y.C.F.R. Entertainment. 9 p.m. Free before 10 p.m., $10 and up after. Kiss Lounge, 204 W. Woodlawn Rd. www.myspace.com/ycfr.

SSSHH: Sensual Seduction Sundays at Happy Hour (weekly event)
Enjoy an infusion of open-mic poetry and jazz over candlelight. Hosted by poet Bluz. After-party and dancing follows. Presented by Pink Diamond. 9 p.m. $10. Happy Hour Bar and Lounge, 3603 S. Tryon St. www.pinkdiamondpromo.com.

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The Curious Case of Ben Bernanke

I'm a Sunday news show fanatic. There's not much I enjoy more on the Sabbath day than catching episodes of Meet the Press in the morning and 60 Minutes in the evening (I managed to squeeze in church today, too). And I just saw one of the best interviews ever on 60 Minutes--a profile of Federal Reserve Chairman Ben Bernanke that took up more than half of the hour-long show. Correspondent Scott Pelley and the CBS News team demonstrated journalism at its best. And as is pointed out, this was the first time the fed chairman had ever done a television interview.

Bernanke talked a lot about the state of the economy and what the Federal Reserve is doing to try to fix it. He also took us inside the massive and rarely seen headquarters in Washington, D.C. But what I found most interesting was part two of the segment (the part that aired after the commercial break) that chronicled Bernanke's upbringing. He grew up in Dillon, South Carolina, a small town with only about 6,000 people. He worked hard all of his life and was raised by a middle class family. During the segment he said, "I come from Main Street. That's my background. And I've never been on Wall Street. I care about Wall Street for one reason and one reason only--because what happens on Wall Street matters to Main Street."

It's comforting to know that Bernanke, who "aside from the president [is] the most powerful man working to save the economy," as Pelley said, grew up like most of us. I, especially, can relate to his small-town upbringing because I grew up in a small town in South Carolina as well. Although it's not mentioned in this interview, Bernanke has several ties to Charlotte, including that his brother is a lawyer here and a few years ago he was awarded the Citizen of the Carolinas Award by the Charlotte Chamber.

Below is video of part two of the 60 Minutes segment in which you get to learn about who Bernanke is. There's also an interesting and ironic moment when his childhood home is shown. His family sold the house years ago and the last owner let it go into foreclosure.



Click here to see all of the 60 Minutes coverage, including a behind-the-scenes look into the Federal Reserve Bank.

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BofA Is Officially Number One

According to a new study by SNL Financial, Bank of America is now the largest U.S. bank, ranked by assets. The Charlotte-based bank has total assets of almost $2.5 trillion. Before the recent acquisition of Merrill Lynch, BofA would have been ranked third. Even though the Merrill Lynch deal has proved to be an ongoing headache as New York's attorney general has led an investigation into the massive executive bonuses ML dished out, at least we can take pleasure in knowing we're number one. Take that New York! And Ken Lewis has won...for now.

BofA knocked off former number one JPMorgan Chase (New York), which is now second on the list with $2.17 trillion in assets. Citigroup (New York) is third with $1.9 trillion; Wells Fargo (San Francisco), which acquired Wachovia at the end of the year, is fourth with $1.3 trillion; and HSBC (Mettawa, Ill.) rounds out the top five with $467 billion.

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National News Puts Spotlight On Small Bank

NBC Nightly News With Brian Williams just aired a story about small town banks succeeding while the big banks are failing. It featured Citizens South bank in Gastonia, which is "an old textiles town in the shadows of Charlotte," and its sharp-minded CEO Kim Price (Kim is a man). Ken Lewis and all the other big-bank CEOs had to be watching this and turning red in the face. Bank of America became a conglomerate by gobbling up little banks like this, but now it's the small community banks that are flourishing. The news story said less than 1 percent of Citizens South's loans are in default. And that Price is "a Boys and Girls Club kind of guy. No chauffeurs. No jets." Obvious dig. See video below.

Visit msnbc.com for Breaking News, World News, and News about the Economy

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Is Bank of America Quietly Cutting Jobs?

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When Your Favorite Player Cost You Your Job

The Carolina Panthers announced yesterday that they have laid off 20 employees. Here's some of what team spokesman Charlie Dayton said in a statement:

"The NFL is not immune from the current economic conditions and these are very difficult decisions designed to help the organization move forward in the most efficient manner possible."

When I read that I immediately thought about when the Charlotte Bobcats laid off about 30 employees last fall just before the start of the season--a couple of whom were people I consider friends. This isn't just Charlotte sports feeling the crunch, but it's happening at franchises all around the country. At the time of the Bobcats' layoffs, the franchise said that all areas were affected except on the team side, meaning no players, coaches, or trainers we affected. It's the same case with the Panthers.

So it makes me think. For every million dollars an athlete makes per year, that could easily employ 20 people within the organization--at a $50,000 salary. But no ownership, not even the highly regarded Richardsons, is willing to say "You know what. We value our athletes, but we also value our non-player personnel--the people working in sales, communications, and support." Instead, the team will likely re-sign offensive tackle Jordan Gross this week to a contract that will pay him around $8 million or $9 million a year. I say make it $7 million and use the rest to re-hire the 20 people you just laid off.

If anything can be learned from this economic crisis we're in it should be the realization that we Americans have our priorities all screwed up. I've never been the person who's complained about athletes making too much money. I've always contended that they are only being paid a certain percentage of what the team is generating, so why should the owners be the only ones who get rich? But it's at a point now where we have to look at things differently. To say that the money used to pay the athletes is different from the money used to pay other team employees is just as wack as the argument that a couple of bank CEOs have tried to use when saying that the money being paid for executive bonuses is not the same money that's coming from the government bailouts.

There have been numerous examples of professional athletes, most often in the NFL, who have willingly restructured their contracts to make less money so that the team could sign another top player to the roster. And that athlete is usually commended for his unselfishness and for putting the team first. I challenge Jordan Gross to do that for those 20 people who have been laid off. He and his agent have a lot of bargaining power because the Panthers need to re-sign him soon before free agency begins. So all he has to do is say "I want to be paid X amount of dollars, but I'm going to take a million less per year over the next two years so you can re-hire those workers and by then the economy should have turned around." Do it, Gross. Set this new precedent for athletes everywhere.

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New York Post Takes Shot At Ken Lewis Too

There's no rest for the weary. As I blogged about in my previous post, The New York Times ran an article in today's paper about Bank of America's CEO Ken Lewis's troubles. Well the New York Post profiles Lewis today also, in its typical edgy, tabloid-like fashion. Below is the graphic that accompanies the article.

I'm betting Lewis is feeling like Charlotte isn't far enough from New York right now. Click here to read "Watch It, Ken" in today's paper.

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New York Times Goes Inside BofA-Merrill Mess

There's an in-depth and somewhat shocking article running in the business section of The New York Times tomorrow (Sunday) about Bank of America's acquisition of Merrill Lynch and the lingering effects that have ensued. The article, which uses many anonymous sources that are said to be current or former employees of the two financial institutions, only further makes John Thain look inept and makes Ken Lewis's job look even more in jeopardy. Below is the illustration that accompanies the article.

The newspaper posts many of its stories online the evening before the printed paper comes out. Click here to read "For Bank of America and Merrill Lynch, Love Was Blind."

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BofA at the Super Bowl

Bank of America's public relations nightmare continues. For the past couple of weeks, the Charlotte-based bank has dealt with criticism over executive bonuses and extravagant office splurges by now-ousted executive John Thain, followed by reports that the bank is still pursuing major financial sponsorship of the new New York Yankees stadium. Now there's outrage over BofA's presence at the Super Bowl. See Good Morning America's news video below.

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