Friday, June 10, 2011

UBS Is Killing Stamford, Connecticut

The NY Times reports that Dino Sakakini, owner of a restaurant here called Layla’s Falafel, surveyed the dinner crowd on Wednesday night and sighed. Many of his patrons were still wearing security badges from the nearby headquarters of UBS, the Swiss banking giant, and Mr. Sakakini was contemplating what might happen to his business if, as now seems quite likely, UBS moves its sprawling trading floor to Manhattan.
UBS is the largest employer and taxpayer in Stamford, Conn.

“Stamford will be crushed,” he said. “Plain and simple. We’ll become a ghost town.”
Merchants and government officials across this city expressed similar anxiety upon hearing the news that UBS, which settled here after abandoning Manhattan in the 1990s, was having misgivings and planned on returning to New York. UBS is Stamford’s largest employer and taxpayer…

Find out more at http://www.nytimes.com/2011/06/10/nyregion/anxious-residents-ponder-a-stamford-without-ubs.html?_r=2&hp

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