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My neck of the woods and also the home state of our very own Robert Graves in Chapel Hill, North Carolina they've -- -- guest is certainly weigh in on what's going on here today Robert.
Hey hey day and yet it's great to be back down south and we have -- Carolina blue skies those.
Rain cats and dogs yesterday so we're really thankful for that and then they velocity be joined by professor Jim Johnson is at -- -- Kenan flagler business school and and professor Johnson thanks so much for joining us obviously want to start.
Not Bank of America they ought to makers obviously in trouble to bail out failing last night unemployment the state has risen you we are saying from four point seven to 7% in the past year.
Sorting your take on today's news and its implications for the state of North Carolina.
Well certainly it's not good news but I think you know with the unemployment rate 7% now four point 7% about a year ago.
But but I choose to to look at -- at the last half for -- opposed to half empty.
I think North Carolina is is an incredibly resilient state there's no question that Bank of America's announcement that.
They're gonna eliminate 35000 jobs of the late last next three years this fact that we are financial service center.
That doesn't bode well for us but I do think on the flip side.
Because North Carolina just because of the strategic location.
-- pro business climate that we have here at the incredible concentration world class universities.
I think all of those things bode well for us even in the midst of a downturn.
We've seen signs that we may be able to weather it better than many other states in the sense that.
You take a major global company like GSK that also is -- cuts in the light made a decision to.
We locate jobs from Philadelphia, Pennsylvania to back to North Carolina set something -- out.
This place and the attractiveness of this place war business.
And we're talking GlaxoSmithKline and we'll be talking with the senior vice president stand hall who.
Helps run that operation a little later today and also your -- at the university is working you know not only -- -- -- great spirit of entrepreneurship in the state of North Carolina.
But also you guys are working to really in -- Baghdad here absolutely.
Both at University of North Carolina Chapel Hill and -- in the entire UNC system.
We recognize that the university has to be a bigger driver in.
Promoting this state it's the State's competitiveness in the global marketplace and -- beta for new business ideas and so we put into place.
Mechanisms in the system.
To tap into the enormous talent that we have and the university system and we are encouraging and creating the climate spread them.
To come -- with new business ideas that we can -- -- debate that we can only prevention Angel investors that -- create the next wave of jobs in the state.
-- professor John today -- stated Brian.
That's it from a Franklin street in Chapel Hill and yeah I'd say we're this we're going to be.
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