$780 Million Expected to Vanish from Area Economy, Neighborhoods: 

CHICAGO – More than 10,500 Chicago jobs are expected to disappear in just two years if Bank of America follows through with promised cuts of 50% of LaSalle Bank’s costs, shows a new study released today conducted by Anderson Economic Group. The report, entitled “Economic and Fiscal Impact of LaSalle Bank Acquisition,” predicts job losses from an impending merger of locally-based LaSalle Bank with America’s largest bank would drain more than $780 million from Chicago’s economy during the same time period. More than 6,000 jobs alone will likely be lost from companies other than LaSalle due to a spillover effect to other area businesses resulting from the merger.