New York loses $1 trillion in Wall Street
business as firms flee the city: report
New York Post,
by
Shannon Thaler
Original Article
Posted By: AltaD,
8/21/2023 7:10:48 PM
A giant, sucking sound is coming out of Wall Street — and it’s siphoning staggering sums of money out of the Big Apple while handing business to Florida and other states farther south.
Nearly 160 Wall Street firms have moved their headquarters out of New York since the end of 2019, taking nearly $1 trillion — yes, that’s trillion with a “T” — in assets under management with them, according to data from 17,000 companies compiled by Bloomberg. (Snip) Last year, financial firms paid $5.4 billion in New York taxes and accounted for nearly a quarter of all personal income tax collections
Reply 1 - Posted by:
DVC 8/21/2023 7:33:51 PM (No. 1539550)
Unfortunately, those crazy extreme leftist folks will be moving somewhere else to trash it like they did NYC.
72 people like this.
Reply 2 - Posted by:
Jethro bo 8/21/2023 8:15:53 PM (No. 1539568)
And they never mention that the crazy indictments against D Trump showed the executives of very single business in NY that they are targets as well. So move to a state that has a one tier Justice system makes personal safe sense.
46 people like this.
Reply 3 - Posted by:
JimBob 8/21/2023 8:35:23 PM (No. 1539577)
Is it just me, or is it true that Noo Yawkers sneer down their noses at us rubes out in Flyover Country, except when they want help, then they DEMAND that we (through the Federal government) bail them out?
They were SO PROUD to declare themselves a Sanctuary City and sneer down at the rest of us, while small south Texas towns struggled with an overwhelming flood of Illegal Aliens..... until governors Abbott and Desantis took them up on their boast, and started bussing Illegals to Noo Yawk. All of a sudden, Noo Yawk, with it's 8,000,000 population, started squalling that it cannot handle the "Flood!" of illegals, although I believe that they are dealing with a small fraction of what south Texas has on their hands.
Right on cue, Noo Yawk starts DEMANDING that the Federal government (that is, us Flyover folks) foot the bill for the Illegals in Noo Yawk. I would wager, that somewhere under the table, some group in Noo Yawk is getting RICH off the operation.
What was it that Cuomo -or some other Noo Yawk official- said: "We Said Soak the Rich, and now the Rich are leaving."
Yep, the Democ'RATS ran the city into the ground, the Rich have finally figured out that they can do business from anywhere with an Internet connection, and they're pulling up stakes and heading for greener pastures..... but the Urban Thugs are staying put, right there in Noo Yawk.
It will not improve until the citizens vote in city officials that will enforce the law, but I do not know if they will ever figure that out.
I'm just glad that I am 1100 miles away!
69 people like this.
Reply 4 - Posted by:
JonR 8/21/2023 8:45:17 PM (No. 1539580)
The Democrats will not be happy until every major city in this country resembles Detroit/Chicago!
Yemen will start to look good for retirement soon!
40 people like this.
Reply 5 - Posted by:
NorthernDog 8/21/2023 9:04:17 PM (No. 1539589)
But New York is ''blessed'' with all those new immigrants pouring in from all over the world. But too bad they are replacing people making $100-$250K /year with those who are completely dependent on welfare.
62 people like this.
Reply 6 - Posted by:
3XALADY 8/21/2023 9:11:51 PM (No. 1539594)
Pretty Boi mayor will be screaming even worse for federal funds to take care of the ILLEGALS. I don't know what the population of NYC is, but I read that Pretty Boi was elected with 246,000 votes. Also, since we're talking about NYC, this is from a news report last week, I posted it and in case you missed it: Stratford Arms was a student residence. They made music and art students move out and were given $1.6 million to re-do the rooms for 400 illegals. Stratford Arms will be paid $600/day for each illegal, this money will cover room, 3 meals a day, laundry truck and health care. I can say I have NEVER stayed in a room where the rent was $600/day or even anywhere near that. I was paying my own bills and that wouldn't have been possible.
42 people like this.
Reply 7 - Posted by:
daisey 8/21/2023 9:41:51 PM (No. 1539613)
Good!!! How’s it going for all you idiots that voted for the sorry excuse for a mayor, Eric Adams. You’re getting everything you voted for. Live with it. I do not feel sorry for you.
50 people like this.
Reply 8 - Posted by:
JimBob 8/21/2023 9:42:19 PM (No. 1539615)
WOW!
$600 per Day per Illegal!
WHO is paying THAT Bill?!
"Socialism is fine until you run out of other people's money to spend.".... Lady Thatcher
50 people like this.
Reply 9 - Posted by:
MickTurn 8/21/2023 11:53:54 PM (No. 1539670)
The companies are practicing DEI...Dumbazz Eat IT, New Jerk City should be happy!
13 people like this.
Reply 10 - Posted by:
NYbob 8/22/2023 1:06:04 AM (No. 1539709)
NYC is quickly returning to the 1970s and Mayor Beam. They will break the bottom and become the new Detroit. It's happening everywhere, but this will be the big rotten apple at it's worst. All the screaming progressives are getting a bitter lesson about the reality of President Trump vs the media made pedo Joe. Enjoy the pain morons.
28 people like this.
Reply 11 - Posted by:
Lawsy0 8/22/2023 1:11:36 AM (No. 1539712)
Boo Freaking Hoo.
20 people like this.
Reply 12 - Posted by:
mifla 8/22/2023 4:03:21 AM (No. 1539737)
And the city government can't figure out why.
24 people like this.
Reply 13 - Posted by:
Trigger2 8/22/2023 4:25:34 AM (No. 1539746)
NY may have left $1T. But what did NYC & the state lose in income taxes. With the way Hatchet the Mad is spending monry, you'd think they lost zero. I foresee massive income tax increases.
21 people like this.
Reply 14 - Posted by:
Strike3 8/22/2023 6:26:31 AM (No. 1539786)
The smart people and firms that left that failed city are the ones with whom should buy your stock and do business. New York is now the sucker bet.
19 people like this.
Reply 15 - Posted by:
Rather Read 8/22/2023 6:33:33 AM (No. 1539789)
My small town has quite a few immigrants from many countries. Happily, they are for the most part, eager to work and learn. We have a good program that vets them and helps them get on their feet. Yes, there are a few bad apples but they don't get coddled like the ones in New York. If they break the law, they serve the time.
21 people like this.
Reply 16 - Posted by:
Msquared112 8/22/2023 6:41:22 AM (No. 1539800)
GWGB
10 people like this.
Reply 17 - Posted by:
Krause 8/22/2023 7:24:58 AM (No. 1539832)
…..and replaced them with new people who will cost them as much.
10 people like this.
It is very amusing to see leftist government reaping the rewards of the policies they have embraced for so long. I worked on Wall St for 5-1/2 years and found NY ,managers to be cold, ruthless and completely uncaring about their employees. I would NEVER work in NYC again.
17 people like this.
Reply 19 - Posted by:
janjan 8/22/2023 7:57:20 AM (No. 1539874)
Adams if flailing and whining and is a fool. He is obviously not qualified to manage a city of this size. Hochul’s resolute leftist policies are destroying the State. Neither one of them understand business or how to attract commerce and revenue. Her policies are designed to do the opposite.
20 people like this.
Reply 20 - Posted by:
Lazyman 8/22/2023 7:58:46 AM (No. 1539877)
Now the rust belt gets to laugh as NYC people lose all opportunity except welfare.
11 people like this.
Reply 21 - Posted by:
ADNova 8/22/2023 9:24:25 AM (No. 1539952)
A look at San Paulo shows you where New York is headed. Wealthy people living in secured high rise buildings traveling by armed drivers and everyone else swimming in a cesspool.
11 people like this.
Reply 22 - Posted by:
Ida Lou Pino 8/22/2023 9:38:57 AM (No. 1539957)
Update to Post #3 - - - -
The correct pronunciation for one local person is N'Yawkuh.
The correct pronunciation for more than one local person is N'Yawkiz.
N'Yawkuh - - N'Yawkiz. I hope that helps.
6 people like this.
Reply 23 - Posted by:
formerNYer 8/22/2023 10:05:38 AM (No. 1539975)
I moved out of that rat infested garbage dump in 1989 and never looked back. When people ask if I miss it I laugh and ask if they miss a toothache.
13 people like this.
Reply 24 - Posted by:
fysammy 8/22/2023 10:07:08 AM (No. 1539978)
Beware, the Northern migration has tilted the politics of once solidly conservitive, South Carolina which was an one of the original destination for their Southern flight. Iconic downtown Charleston is now solid blue and it's spreading. Thank God, Greenville is still rock solid red; must not have enough golf courses?
8 people like this.
Reply 25 - Posted by:
Zigrid 8/22/2023 10:19:05 AM (No. 1539990)
Does mayor Adams have any idea what's in store for New Yorkers....he's a woke mayor who doesn't have a clue how to run a city...but he likes to dress well and attend parties...another leftie who has an entitlement attitude...the world owes him because he is black...and hates white folk who pay his salary....and are now deserting the city....the streets are filthy ...but his cousin is the road commissioner...and hasn't a clue....but no worries...his prosecutor is on the job of locking up citizens that are white....and killers roam the streets free and able to conduct more theft and mayhem....
8 people like this.
Reply 26 - Posted by:
MakingSense 8/22/2023 10:31:19 AM (No. 1540010)
NYC Mayor Eric Adams and NYS Gov Kathy Hochul should jump on this opportunity to move thousands of “migrants” (AKA illegal aliens) into this newly vacated Class A office space! New Yorkers being as “welcoming” as they are to “migrants”, I’m sure the people who live in these neighborhoods will applaud and welcome them with open arms!
10 people like this.
Reply 27 - Posted by:
Nimby 8/22/2023 11:42:46 AM (No. 1540068)
Waiting to see when NYC turns into SF with homeless and druggies on the streets
3 people like this.
Reply 28 - Posted by:
NotaBene 8/22/2023 12:05:35 PM (No. 1540089)
Our President Donald Trump built the recent skyline and was a pioneer in leaving the Communist enclave to Diversify, Equity and Inclusion of illegal parasites. Local haters attack Asians in the subways. New York looks awful with its scaffolding in front of most buildings. They were blessed to have Donald Trump and Rudy Giuliani and New Yorkers rejected them and want them in prison. Sorry but not sorry of their present condition.
7 people like this.
Reply 29 - Posted by:
mk213 8/22/2023 1:38:03 PM (No. 1540174)
Best feel good story of the day!
4 people like this.
Reply 30 - Posted by:
Omen55 8/22/2023 3:02:47 PM (No. 1540241)
To handle this $$$ crisis for dem NY will do the only thing any of dem know to do.
Raise taxes!
3 people like this.
Reply 31 - Posted by:
COCKNEYLAD 8/22/2023 4:20:34 PM (No. 1540282)
i am pretty sure there are no states farther south than Florida.
0 people like this.
Reply 32 - Posted by:
MickTurn 8/22/2023 8:53:32 PM (No. 1540388)
BOO Freakin HOO. You vote Woke, but you're asleep at the switch and the train derails...
How really STUPID are you folks, you keep voting for this insanity then whine when it KICKS your Azz!
0 people like this.
Below, you will find ...
Most Recent Articles posted by "AltaD"
and
Most Active Articles (last 48 hours)