Seven years ago, Ken Thompson promised Winston-Salem 3,000 jobs. He
did it to generate support for Charlotte based First Union's
takeover of Twin City pillar Wachovia, and it worked. Wachovia merged
with First Union, even surrendering its name. Winston-Salem shed about
1,300 jobs when the headquarters moved to Charlotte, but it might have
been worse if not for Thompson's pledge. Wachovia still has heavy
concentrations of workers there in its wealth-management, Carolinas
banking and Internet-technology divisions. But with Thompson's
ouster as CEO in June, city officials fear his word might be out the
door with him. Wachovia executives aren't commenting.
COPYRIGHT 2008 Business North
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