Wednesday, December 24, 2008

The Merger

Am I beating a dead horse by talking about the PNC / National City merger?

The merger has been approved. Theoretically, this seems good for Pittsburgh because a bank based here is getting more and more powerful. However, I'm sure there are a lot of people in the region who will lose jobs because of National City leaving.

What about the current National City skyscraper? Does PNC really need another tower with their name on it in Pittsburgh? Won't they want to get rid of that office space because it brings down their LEED-certified building count? (Plus, isn't it kind of ugly?)

"It doesn't strengthen Cleveland at all," shareholder Melanie Deutsch told The Associated Press, calling yesterday "a sad day for Cleveland."

Nobody is quoted in the Trib article as saying that it's a good day for Pittsburgh. Is that just good old-fashioned Pittsburgh self-deprecation?

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