Thursday, October 9, 2008

Pittsburgh National Cick-Ass (PNC) II


I noted last week that PNC was having one hell of a year (a tad bit of a surprise given how most banks have done this year). I also noted that their highly valued stock could be used to acquire a whole bunch of under valued shares of another bank. At the time I was thinking in terms of Wachovia. Now, it appears more likely that National City could be acquired by PNC. Any chance this means that they would replace the ugly white National City Center (pictured above) with a building worthy of our majestic riverfront?

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