from today's GlobeSt
Last updated: March 18, 2008 10:42am
JPMorgan Chase Could Bail From Downtown Move
By Natalie Dolce
"NEW YORK CITY-JPMorgan Chase & Co. said it is deserting plans to move its Downtown headquarters to the World Trade Center site in the wake of its deal to acquire the Bear Stearns Cos. Inc., according to numerous reports. Those reports note that spokesman Brian Marchiony confirmed that the company was scrapping plans to move the company's investment-banking and trading operations to a building planned for the WTC site.
The bank has a 90-year lease with the Port Authority of New York and New Jersey for the spot where the former Deutsche Bank building now stands near Ground Zero. The firm had expected to construct and occupy a 1.3-million-sf tower on the site, as GlobeSt.com previously reported." ....
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