November 27, 2024
Business

Baldacci pledges help with buyer of MBNA

AUGUSTA – With 3,000 jobs in the balance, community officials from around Maine said Monday they want to speak with one voice to Bank of America.

The company is buying out the credit card company MBNA, which employs people in seven Maine communities.

On Monday, officials from three of those communities met with Gov. John Baldacci to make their voices as loud as possible.

Baldacci promised to support that effort, and named Economic and Community Development Commissioner Jack Cashman as his point person on the matter.

With the news in June that Bank of America had agreed in principle to buy MBNA for $35 billion, Maine officials became concerned about whether Bank of America would be as committed to the state as MBNA has been since arriving in 1993.

MBNA employs 26,000 in the United States and some other countries; Bank of America employs 177,000.

In Maine, MBNA employs 3,000, with about 2,000 working at its headquarters in Belfast. The other 1,000 full- and part-time jobs are in Fort Kent, Presque Isle, Orono, Farmington, Brunswick and Portland.

Local officials where MBNA operates have been concerned that they will not be able make enough noise to get the attention of the huge banking services company.

But if the governor and the state congressional delegation knock at the company’s door, they likely will be offered a chance to lobby not only for keeping the credit card jobs in Maine, but also for expanding here, the officials said.

The Belfast delegation included Mayor Michael Hurley, City Councilor Rachel MacDonald, Rep. Walter Ash, Sen. Carol Weston, Belfast City Manager Terry St. Peter and the Chamber of Commerce’s Jayne Giles and Shawn Stockman.

In a letter dated Aug. 5, Baldacci told Bank of America officials he is available to help the company as it plans for business after the acquisition of MBNA.

The state “has been very pleased with MBNA’s strong, positive presence in Maine, and appreciates its long-standing relationship with the company over many years,” the governor wrote. “We’d like to have the same relationship with Bank of America.”

Baldacci also touted Maine’s “committed and skilled work force” and its “powerful business infrastructure.”

The governor also sent material to Bank of America describing the Pine Tree Development Zone tax break option.

The session with Baldacci also included Lloyd LaFountain, the state’s banking director, and representatives from U.S. Reps. Tom Allen and Michael Michaud’s offices. Representatives of U.S. Sens. Susan Collins and Olympia Snowe could not attend, but both are involved in the discussions about MBNA and Bank of America.

Baldacci praised the state’s work force, noting that retailer L.L. Bean has committed to keeping its operations in Maine, and agreed that he would make that case to Bank of America.

Hurley thanked Baldacci for making discussions with Bank of America a priority.

The mayor noted that the factory jobs that once provided a base to the city’s economy are gone and that the city has been transformed by MBNA.

After the meeting, Hurley said he believes the governor is on board with the effort.

“We’re looking to the governor and his officers to lead the charge on this, and that’s what he’s doing,” he said.

Correction: Thius article ran on page B1 in the State and Coastal editions.

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