Wall Street Journal moving to midtown?A New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Observer article reports that the Wall Street Journal is seeking 150,000 SF of office space in midtown as the paper's parent company, Dow Jones Dow Jones the best known of several U.S. indexes of movements in price on Wall Street. [Am. Hist.: Payton, 202] See : Finance , considers vacating Downtown. The paper's 7-floor lease inside the World Financial Center comes due in 2005, and Dow Jones is now trying to sublease sublease n. the lease of all or a portion of premises by a tenant who has leased the premises from the owner. A sublease may be prohibited by the original lease, or require written permission from the owner. half of that space. The article quoted a "source" saying that "they (the Wall Street Journal) want to get out of Downtown." Another rumor reported in the article is that the Journal will move to a new HQ at 55 Water Street. But a Dow Jones spokesman said that the company intends to bring all of its employees back to the WFC WFC Wi-Fi Connection (Nintendo gaming service) WFC Wide-Field Camera WFC World Financial Center (New York) WFC Workforce Center WFC World Federation of Chiropractic WFC World Food Council as soon as July. One problem with remaining in lower Manhattan Lower Manhattan is the southernmost part of the island of Manhattan, the main island and center of business and government of the City of New York. Lower Manhattan is generally defined as the area delineated on the north by Chambers Street, on the west by the Hudson River (North is that several years worth of construction are on tap for the area, which could make navigating the area somewhat dicey until a master plan is executed. Also, midtown's status as a transit hub (Penn Station and Grand Central are here) makes it more convenient for many employees who live outside of Manhattan. An historian quoted in the article asserted that lower Manhattan still is the financial center, "to the extent that there is a center any more to the financial world." "You can be a major player on Wall Street and be anywhere....that's why the symbols of Wall Street, like the Wall Street Journal and the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. ... have to stay there," said John Steele Gordon. Brokers contacted about this report denied having any knowledge of the potential move. But they did not seem surprised at the possibility of a downtown staple uprooting its operations for a move north. |
|
||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion