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uptowngirl
uptowngirl

New York continues to be a top business city

A recent survey conducted by the the Partnership for New York City and Price Waterhouse Coopers indicates that New York City continues to be the top ranked city for business opportunity though it is losing ground to other global cities in terms of costs and lifestyle issues.http://www.crainsnewyork.com/article/20100318/REAL_ESTATE/100319886
A further indication that the city is emerging out of the recession ?
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hhusted
hhusted 2yrs+
@Uptowngirl: Interesting article. I wonder if NYC will continue to lose ground, or will they adjust and take the top again.
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Uraniumfish
Uraniumfish 2yrs+
@uptowngirl But do you think that article really indicates that NY is emerging out of recession? Not sure.
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ajadedidealist
ajadedidealist 2yrs+
I suppose it's all relative though. Not surprised to see Paris won out in the "intellectual capacity" though. Despite truly great universities, NYC doesn't strike me as a particularly "academic" city
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uptowngirl
uptowngirl 2yrs+
@Uraniumfish I think the fact that even NYC figured in the list must somehow indicate that the city is emerging albeit slowly from the recession . This is not the first survey I have had a chance to look at recently even the Financial Times recently published a survey that NYC had regained its position as a top city for finance, a position that it lost out to London not long ago.
http://www.ft.com/cms/s/0/31521254-2d4e-11df-9c5b-00144feabdc0.html?catid=4&SID=google
http://www.cnbc.com/id/35834395
Though the Economist also conducted its own survey on the livabilty of cities and in that survey New York ranked a miserable no 56 even lower than Detroit. Find that hard to believe bah!
http://www.huffingtonpost.com/2010/02/13/worlds-most-livable-citie_n_460497.html
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uptowngirl
uptowngirl 2yrs+
@hhusted very rarely do surveys mention their sample sizes. I do understand what you say but somehow I even then want to believe the surveys. I want to feel as if NYC is recovering and things are getting better. There has been too much gloom and doom and now I want NYC to bounce back.
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hhusted
hhusted 2yrs+
@Uptowngirl: Yes. I want to see NYC bounce back to. It would really boost the economy if this city did bounce back. Hopefully, the surveys were right. We need something good to cheer us up. I heard today that new home sales fell last month after a few months of rising sales.
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JenMac
JenMac 2yrs+
NYC not academic? This is where everyone goes when they say they want to make it as a writer! And, NYU and Columbia are both in the top 10 of universities in the country!
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hhusted
hhusted 2yrs+
@JenMac: Yeah, NYC is supposed to be the place with some of the top ten universities in the world. You see people from all countries come here to attend universities and colleges.
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NeverSleeps
NeverSleeps 2yrs+
Wait? Are we emerging from a recession?! I guess I'd better buy a condo or something, and quick...
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Uraniumfish
Uraniumfish 2yrs+
@NeverSleeps Nah, we're not emerging. Or if we are, it's a mighty slow emergence. Word on the street is, real estate prices are gonna be low for at least 3 years more, maybe longer.
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hhusted
hhusted 2yrs+
@Uraniumfish: I don't listen to propaganda that is found on the street. I read reports, summaries, and surveys. I get the scoop from the experts. Right now, the recession is over and most of the country is bouncing back. The only problem is that NYC is not bouncing back as fast as the rest of the country. That is a fact. I wish NYC would bounce back quickly, because many people depend on NYC's economy to be good for the overall economy to be good. I don't know why, but that seems to be the way it is.
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DBlack
DBlack 2yrs+
@uptowngirl In that article about the most livable cities, Vancouver is #1--bah! and double bah!
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JenMac
JenMac 2yrs+
Some of the rent prices have already gone up; so, I wonder if they're going to continue rising and then plummet again when it's realized that there isn't anyone who can pay that.
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DBlack
DBlack 2yrs+
I read an article recently about the "phantom stock" of homes that are currently in foreclosure but not yet on the market. Since they don't show up in the statistics yet, it's easy to read the numbers as making small gains recently. But, the point of the article was, that phantom stock will take a few years to impact the market. I'm no expert on these things, but I do wonder how all those foreclosed homes are going to be influencing the market in the next year or two or three. No one's really talking about that.

On the other hand, I'm curious if hiring in the financial sector is picking up, anybody know? @uptowngirl I believe you said your husband works in finance, are the big firms hiring again?
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uptowngirl
uptowngirl 2yrs+
@DBlack AsI mentioned in another post, a cousin of mine who had lost his job with Citi last year just got picked with by BofA this year but then another friend of mine who worked at Chase has been out of a job for over two years now.. I think the big banks are hiring in fits and starts and this morning's FT says they are all looking to hire in Asia and Australia. The focus is there for the moment-
http://www.ft.com/cms/s/0/d5aa0f98-3aa3-11df-b6d5-00144feabdc0.html
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ajadedidealist
ajadedidealist 2yrs+
I hear Copenhagen is great to live in - one of the best Quality of Life cities in the world! I'll be there in July, hopefully...so I'll be able to compare
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uptowngirl
uptowngirl 2yrs+
@ajadedidealist I have been to Copenhagen years ago and I remember it being fantastic with great architecture and design and extremely stylish stores. Do try and have the open sandwiches at the famous Copenhagen store
Ida Davidsen..fantastic do hope they are still as good as I remember them to be.
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ajadedidealist
ajadedidealist 2yrs+
Thanks for the info, @uptowngirl! I'm spending a summer doing a course at the University of Copenhagen on Kierkegaard, one of its most famous denizens! There are certainly aspects of Copenhagen I wish NYC would adopt - the amazing bike lane system, the free public pools and overall community feel....
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hhusted
hhusted 2yrs+
@Ajadedidealist: Good luck and have fun.
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ajadedidealist
ajadedidealist 2yrs+
Thank you, @hhusted. Also on the topic of recession here is some good news. http://www.nytimes.com/2010/04/03/business/economy/03jobs.html?hp. From NYC's old Gray Lady
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uptowngirl
uptowngirl 2yrs+
@ajadedidealist Thanks for that link, we desperately need some good news on the job front
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hhusted
hhusted 2yrs+
@Ajadedidealist: Yes. I read that consumer confidence is up for the first time in two years. Also the Labor Department actually recorded 130,000 jobs being added in March. What good news that is.
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JenMac
JenMac 2yrs+
It still seems, though, that we are a long way away from an upswing.. . .or, maybe I'm just being a pessimist. Am I?
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ajadedidealist
ajadedidealist 2yrs+
My mother just got a job after ten years of semi-searching (quit to have me, then decided to go back to work with increasing degrees of intensity). And she's an i-banker - one of the worst-hit industries. So there's hope!
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Uraniumfish
Uraniumfish 2yrs+
@JenMac I think many people are too optimistic, given the reality of the situation, so I think a bit of pessimism is just about the right attitude to have. I hope jobs go up, of course, but I'd like the housing market to stay low for a while yet.
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Uraniumfish
Uraniumfish 2yrs+
@ajadeidealist What's an i Banker?
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DBlack
DBlack 2yrs+
@uptowngirl In order to read that article I had to sign up with FT but I'm glad I did now. Ten free articles a month is a decent deal. I'm not an avid reader, but once in a while it's good to look through FT
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BroadwayBK
BroadwayBK 2yrs+
@ajadedidealist Ten years to find a job! My roommate was semi-searching for a job and it only took her about nine months. Then again I think she got more desperate as her money started to dwindle.
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uptowngirl
uptowngirl 2yrs+
@DBlack I love the FT especially its weekend edition which is full of news about art, culture, travel,books and more..glad you are enjoying it as well.

@Uraniumfish i-banker i.e. investment banker...am married to one myself.:) One of the most high risk, high burnout and high pressure careers which doesnt have much longevity unfortunately and not all of them make a gazillion dollars like the chappies at Goldman Sachs.
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Uraniumfish
Uraniumfish 2yrs+
@uptowngirl So does your husband intend to retire when the burnout factor kicks in and do something else? What would be a good post- ibanking career?
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uptowngirl
uptowngirl 2yrs+
@uraniumfish.he used to say that he would like to retire and go in live in a sunny resort and open a bar...that used to be his dream but nowadays I think most people have to continue to work well into their 70's..as for careers after i-banking many of them join a hedge fund or get into consultancy of some sort..
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hhusted
hhusted 2yrs+
@Uptowngirl: I knew an i-banker. He worked 10 years but faced so much stress he was forced to resign. He became a computer sales person on a part time basis.
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DBlack
DBlack 2yrs+
Stats are up for new jobs, which is good for everybody, but I hope real estate stays low for a while. I like the idea of housing becoming a little more affordable in this city.
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ajadedidealist
ajadedidealist 2yrs+
Yep, investment banker. To be fair, her search was half-hearted for most of that time (she took a lot of time off to raise me) and has only been looking seriously for 3-4 years, but she has such specialized experience and was applying for such specialized jobs that it was a very difficult process
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