February 16, 2007

Another one bites the dust.

Yet another in a long string of local Birmingham companies bought out--Spanish bank to buy Compass in blockbuster deal.

I guess that's the price of success, but the one thing that's always sorta nice about living in a sorta big city is the number of large local players, whether they be banks or restaurants or department stores or grocery stores. But once they get big enough, they become prime targets for getting bought out by the multinational folks, and there's always a little bit of local service and pride and flavor that gets lost.

Oh well.

Posted by Terry Oglesby at February 16, 2007 09:36 AM
Comments

What happened to the Japanese buying everything that wasn't nailed down? You had to settle for the Spanish?

Hey - does this mean bullfighting will finally get the respect it deserves in Alabama?

Posted by: skinnydan at February 16, 2007 09:50 AM

This is why I was actually pleased that Regions and AmSouth are combining. It does give Birmingham one big bank that is large enough to perhaps be a BUYER in the merger wars rather than an ACQUISITION, and gives us a chance to at least keep THOSE headquarters jobs. From what I gather the Spanish bank already has something like a $47 billion operation and this story indicates they will likely move the Compass HQ from Birmingham.

Posted by: Stan at February 16, 2007 09:51 AM

Dan, I guess it doesn't matter if it's yen or pesos--throw around enough of them and people get the fever. I'm just hoping that the siesta will catch on, never mind bullfighting. Oh, and Penelope Cruz!

And Stan, I'm not sure how long Regions/AmSouth will be able to hold on before they get bought out, too.

Posted by: Terry Oglesby at February 16, 2007 10:20 AM

You know, I'm noticing a bit more skin on Possumblog than usual - yesterday the cartoons, today real live girls.

Bold & Edgy pushing the envelope on the clean, corn-fed Americana that usually decorates this corner of Al Gore's internet?

Posted by: skinnydan at February 16, 2007 10:30 AM

Happens to Baltimore, too.

Posted by: steevil (Dr Weevil's bro Steve) at February 16, 2007 10:49 AM

And not only that, the first post this morning had photos of A NAKED CAT! Just wait until we have the Maureen O'Hara retrospective next week!

Posted by: Terry Oglesby at February 16, 2007 10:49 AM