Lab Corp appears to be more interested in real estate transactions rather than what most of us associate the company with. They practically own or rent the majority of buildings in downtown Burlington, NC and own or rent a large number on the outskirts of Burlington and Elon College. They have just recently built an enormous facility between Burlington and Elon College. I have never seen a company with so many offices in one area. You would think the company was actually making money. Wonder if the leading executives ever plan to do any consolidation or does some executive within the company hold a real estate license and plan to continue this process. Unfortunately what is good for the company will not be good for Burlington and at some point the company will be forced to make decisions regarding cuts, consolidations and more sell offs of its businesses in order to make a profit. Downtown Burlington will then be reduced to a ghost town, not to mention what it will do to the local economy and employment rate.
Given their anemic performace, LH could probably post higher profits if they DID go into real estate development! But I find it hard to beleive your assertion that LH has turned Burlington into their company town...how do you know? Is their presence all that big, or is Burlington all that small?
Labcorp does own practically all of downtown Burlington, NC. As a former employee I visited Burlington twice(I worked in Dallas.) It is not that Labcorp is that big or that Burlington is that small but a combination of the two. If Labcorp goes down it will take Burlington with it.