Another one bites the dust. Capital One to Buy Chevy Chase Bank for $520 Million [Bloomberg]. First American, Riggs Bank and now Chevy Chase. There are no DC-based financial institutions left in the Washington area. Ditto for (almost all) department stores, home improvement chains and supermarkets, like Woodward & Lothrop, Hechingers and Giant. For a "recession-proof" metro market, DC is looking very bad at retaining its own companies.
Posted via email from glenn’s posterous