February 9, 2010

The other side of bank bonuses: smaller donations, fewer sales

In Charlotte, the nation's No.2 bank town, the bonuses help drive the city, funding charitable giving, the real estate market, retail and other aspects of the economy. At the Charlotte Rescue Mission, executive director Tony Marciano said that one donor, the owner of a small business, used to donate $4,000 to $8,000 a year. This year, he walked up to Marciano and gave him $40 in cash and said that was all he could do.

Related content


Editor's Choice Videos