NYSE to abandon plans for new HQ - NY Times
05 August 2002 | 1634 views | 0
The New York Stock Exchange is to abandon plans to build a new headquarters across the street from its historic site at 11 Wall Street, according to a report in the New York Times.
The New York Times report says that the exchange is also considering constructing a second trading floor within New York state, but outside Lower Manhattan, which will be used simultaneously with the current floor.
Richard Grasso, chairman of the exchange, told the paper: "We are looking in the five boroughs as well as outside the five boroughs of New York City...It's important for me not to create a vision that we are about to drop anchor somewhere else."
However, the New York Times cites Edward Skyler, a spokesman for Mayor Michael Bloomberg, as saying: "I can't imagine the New York Stock Exchange would abandon New York City in the moment of need. We remain hopeful that the stock exchange will stay on Wall Street, but should they insist on splitting up their operations, we have offered them many viable alternatives throughout the city."