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- PNC took over National City on December 31, 2008Cleveland.com: National City owner PNC to cut 5,800 jobs February 3, 2009)
- Integration into PNC will take about two yearsCleveland.com: National City owner PNC to cut 5,800 jobs February 3, 2009)
- PNC bought National CIty for $5.2 billion in stock, or $2.23 per National City share, and $384 million in cashUSA Today: PNC agrees to buy ailing National City for $5.6 billion (October 24, 2008)
- Nearly 19 percent below the stock's closing price on October 23, 2008The New York Times: PNC to Buy National City for $5.2 Billion (October 24, 2008)
- $7.7 billion in preferred shares and related warrants will be issued to the U.S. Treasury DepartmentThe New York Times: PNC to Buy National City for $5.2 Billion (October 24, 2008)
- Issued under the capital-infusion program, meant to stabilize financial institutionsThe New York Times: PNC to Buy National City for $5.2 Billion (October 24, 2008)
- National City Bank is the primary subsidiary of National City Corporation
- National City one of the top ten subprime lenders in U.S.Bloomberg: PNC Financial to Buy National City for $5.2 Billion (October 24, 2008)
- Its stock went down 87% in 2008Bloomberg: PNC Financial to Buy National City for $5.2 Billion (October 24, 2008)
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PNC Financial Services announced on October 24, 2008 it would buy the financial holding company National City Corporation..PR Newswire: PNC to Acquire National City (October 24, 2008) It took over the company on December 31, 2008, after buying it for $5.6 billion. The integration of National City into PNC will take about two years, according to company newsletters. Columbus Business FIrst: PNC, National City integration to take 23 months (December 10, 2008) Cleveland.com: National City owner PNC to cut 5,800 jobs February 3, 2009)
PNC Layoffs
In February 2009, PNC Financial Corporation announced it will cut about 10 percent of its workforce, or about 5,800 employees by 2011. They include about 4,000 job cuts that National City Corporation announced in October 2008 before the acquisition. The announcement came as PNC reported its first loss since 2001, in the forth quarter of 2008, a loss partly due to costs of integrating of National City Corporation into the company.WKRC-TV: PNC, Fidelity Announcing Layoffs (February 3, 2009) Bloomberg: PNC Shares Fall as Bank Reports First Loss Since ’01, Job Cuts(February 3, 2009)-
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PNC National City on Amazon
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MLB Logo Patch - City of Pittsburgh 250th Anniversary - Pittsburgh Pirates - $30.00
MLB Logo Patch - City of Pittsburgh 250th Anniversary in a MLB PackagingAmazon
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PNC National City Questions
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If the United Nations sent a peacekeeping force into a large city, what would their strategy be? 1 AnswerI am no tactical expert by any means, but I think you are bang on with the forces taking over the Airport 1st, that is realistic and common, however I don't thi... read more -
What are China's 56 different nationalities? 1 AnswerIf I am to type all the information for this answer, it would consume a lot of time. So I would lead you to the links with all the information you need. http://... read more -
What do the symbols of the Cherokee Nation mean? 2 AnswersThe Cherokee Nation seal is a seven pointed star surrounded by an oak leaf wreath and on the outer circle the words read,"Seal of the Cherokee Nation Sept 6. 18... read more
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TELLER Lakewood-Detroit - Full Time - National City, now part of PNC - Lakewood, OH: benefits package. We desig.. http://bit.ly/7zCuDJ
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Sales Job - BUSINESS BANKER III - National City, now part of PNC - Holland, MI http://ow.ly/16ba6z
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Sales Job - Business Banker II-Alpena Main Office - National City, now part of PNC - Alpena, MI http://ow.ly/16ba6y
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Hiring a Teller Banking Representative I at National City, Now Part of Pnc (Shelby Township, MI) http://bit.ly/8sIut1 #jobs #shjobs
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@itsgwenybabyduh Lol U Should... 21% Off!... Sheesh.. I Was Geeked..lol. It's Actually For National City Bank/PNC
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