The grapevine told me two interesting things today:
1. UBS is staying put! The Hour and quite a few others report that UBS will accept a $20M "forgivable loan" - which I think is code word for a gift - in exchange for sticking around for five years and keeping at least two thousand jobs in the state. I hope that "in the state" means in Stamford proper, but the article doesn't actually say. They'll take in more dough if they bring in more jobs too. Lord only knows what would have happened if UBS had left us at the altar, so I'm glad we'll keep going steady for at least the next little bit.
2. Macy's is getting a facial. My buddy, TK, tells me our downtown Macy's is getting a power wash. She saw it in the works and reported that it was already looking spiffier.
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I was going to post about UBS, but I'll just sound off here instead. I'm glad they're staying because their departure would've been a huge economic blow to Stamford as well as a shot to the city's ego! However, I don't understand why a multi-billion-dollar financial firm needs to be bribed with a $20 million no-interest loan.
As for Macy's, I wish they would replace that awful brown facade with something a little more inviting, like, I don't know, windows??
About UBS..most people don't understand THIS - They have 3,200+ employees in Stamford today. They committed to keep 2,000 and CONFIRM the move of their entire Equities division to NYC. 3,200 - 2,000 = 1,200 jobs moving or lost. NOT a good outcome by any means.
"However, I don't understand why a multi-billion-dollar financial firm needs to be bribed with a $20 million no-interest loan."
BECAUSE THEY ARE BARELY HANGING IN THERE!
Your readers might be interested to see this...
http://stamford.patch.com/events/you-call-it-a-sale-we-call-ityou-better-act-fast#c
"Trump Parc Stamford, the region's best-selling luxury condominium, is now offering for sale a limited number of residences at significantly reduced prices."
I had real estate double talk..IF YOU ARE THE BEST F* SELLING LUXURY CONDO Then WHY "SIGNIFICANTLY REDUCE" your prices? Is it the real estate equivalent of "best car in it's class" and hence the only one in it's class?
Buyers who they they are getting a deal will be sure to find that they have lost another 25% in a year (Yes, the prices are down 25% from last year and over 30-40% in some instances from the time they opened)
Sorry..without typos now!
http://stamford.patch.com/events/you-call-it-a-sale-we-call-ityou-better-act-fast#c
"Trump Parc Stamford, the region's best-selling luxury condominium, is now offering for sale a limited number of residences at significantly reduced prices."
I hate real estate double talk..IF YOU ARE THE BEST F* SELLING LUXURY CONDO IN THE REGION Then WHY "SIGNIFICANTLY REDUCE" your prices? Is it the real estate equivalent of "best car in it's class" and hence the only one in it's class?
Buyers who think they are getting a deal will be sure to find that they have lost another 25% in a year (Yes, the prices are down 25% from last year and over 30-40% in some instances from the time they opened)
Also UBS had about 6,000 employees in Stamford at it's peak in 2006. Now 3,200..next up 2,000 (the min guarantee to CT)
Thanks to SOS and to all the Anons for their comments. I hadn't realized how many jobs we were talking about at UBS Stamford - that was an eye opener for me. I feel like nothing surprises me with Trump building. Is the lobby even finished yet? A friend went to look at the units and said it's NYC space, NYC prices smushed into Stamford. Suppose they can't change the space, so the price has got to go.
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