Yes, yes it is ....
Posted on 08/21/2023 7:35:38 PM PDT by lowbridge
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.
Looking to dodge rampant crime, stiff taxes and an increasingly exorbitant cost of living, 158 fed-up financial firms representing a whopping $993 billion in assets have packed up and left the Big Apple, taking thousands of high-paid employees with them, the data shows.
Icahn Capital Management — headed by billionaire corporate raider Carl Icahn — is among the most prominent firms to decamp to the Sunshine State. In August 2020, the firm ditched his posh Manhattan digs atop Fifth Avenue’s General Motors Building in favor of a 14-story office complex in a Miami suburb.
Icahn’s firm, which manages $22.2 billion in assets, now conducts business less than a mile away from his mansion in Indian Creek Village.
Meanwhile, hedge-fund tycoon Paul Singer’s Elliott Management — which commandeers a total of $59.2 billion after shaking up investment targets including AT&T, Twitter and the government of Argentina — moved its headquarters from Midtown Manhattan to West Palm Beach, Fla., in October 2020.
One year later, closely watched tech-stock guru Cathie Wood — famous for her bold, windfall bet on Elon Musk’s car maker Tesla –moved her firm ARK Investment Management — and its $24.7 billion worth of assets — to St. Petersburg, Fla.
(Excerpt) Read more at nypost.com ...
According to the way New York City dwellers vote they don’t seem to care. Neither do I.
NYC is turning into Johannesburg but some will stay no matter what. They did in the '70s and the '80s before Rudy cleaned up the city.
Muggings, rapes, people forced to drain their atms at gunpoint, slashings, acid thrown at people, babbling derelicts blocking your way on the sidewalk....What’s not to like?
Keep voting Democrat.
New York was a fantastic city when Rudy G. was Mayor. It’s a shame what it has become under the democrats.
Didn’t used to be. Ever been there? No? I didn’t’t think so.
downside is this is making Florida a blue state....
New York and California each lost $ 1 TRILLION after major financial firms moved to Texas and Florida
Gee and their replacements are such high earners 🤣🤣🤣
Here’s the part I don’t understand.
If I CAN SEE THE DANGER IN WHAT THE LEFT IS DOING, WHY CANNOT THOSE MORE INTELLIGENT THAN I...SEE IT.
The Elites seem to have a deficiency in looking to the future to see WHAT COULD HAPPEN IF.......
As long as they have that FLAW...we CAN WIN.
“Obviously getting paid off from letting in all the “migrants” in NYC and taking up citizen’s resources.”
You know, you aren’t screwed on right. There’s something very off here. Seek help.
“downside is this is making Florida a blue state....”
Actually, FL is getting redder and redder statistically. But we have to watch out for all the illegal aliens that have been migrating to FL for the warm weather that many of them are used to. Same with TX and AZ and CA. When Trump gets in, he has to weed through all these illegals and get rid of many of them; kick them out of our country. As Mexico has been complicit with the Biden Admin in allowing them in and actually facilitating, and Mexico is a narco state now, dump all the illegals back into Mexico and let them deal with it.
Headline is bullshit. How much money these firm manage isn’t NYC income. Makes it sound like the city is losing trillions, with a capital T, of revenue.
Seems like you’re saying this is a Jewish plot. Why don’t you just say it instead of being coy?
There is simply no reason to be in New York anymore. With the internet, you can locate your firm anywhere. Why would you choose high tax, high cost of living, high crime New York?
I work for several big banks in Charlotte. I have a lot of colleagues up in New York who are DYING to get transferred down here. The banks generally make them take a 20% haircut in their salary when they get transferred. Their standard of living still goes way up even with their salary reduced by that much. That’s to say nothing of the filth and crime up in NYC.
Yes, yes it is ....
Elliott Management — which commandeers
That word doesn't mean what the author thinks it means ...
Rot has a friend in the mayor govenor and wallstreet
When governor Andrew Cuomo let slip that the State of New York was looking to tax every stock transaction, you could hear the flick of the switch - those Wall Street firms were never going to let anyone in on their trading secrets and would leave any jurisdiction whose politicians thought they could tax such transactions.
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