Street Stories NYC Special Edition Hurricane Sandy (Street Stories Worldwide Book 1)

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Architects and historians widely consider the Verizon Building as the first Art Deco skyscraper. The south and east facades of the Verizon Building were heavily damaged in the September 11 attacks , from the collapse of the adjacent 7 World Trade Center , as well as the collapse of the Twin Towers. No fires were observed in the building on September The building's older design utilizes thick masonry and gives the building added strength, which helped the building withstand damage from debris and remain structurally sound.

The building has thick, heavy masonry in the exterior infill walls , which encloses the building's steel frame. Brick, cinder, concrete, and other masonry materials encase interior steel columns, beams, girders, and other structural elements.

Hurricane Sandy - Wikipedia

The masonry allowed the structure to absorb much of the energy from debris hitting the building. The Verizon Building is visible to the upper left of the image, showing the severe damage it sustained to its exterior walls.

Federal Emergency Management Agency photograph from September 28, Collins AIA Architects was the lead architectural firm working on the restoration, [5] while Tishman Interiors managed the project. The Excalibur Bronze Foundry and Petrillo Stone were hired as specialists for restoring intricate ornamental detail in the facade and in the lobby.

This part of the restoration accounted for a significant portion of restoration costs. On the executive office floors, barrel-vaulted ceilings were restored, restoring plaster friezes , and other work. Moses Preservation Award for its restoration work on the Verizon Building. The building was partially flooded by storm surge from Hurricane Sandy in In , the top 22 floors of the story building were purchased by developer Ben Shaoul for conversion to condominiums known as One Hundred Barclay.

From Wikipedia, the free encyclopedia.

A Look inside Verizon's Flooded Communications Hub

Office skyscraper in Manhattan, New York. United States historic place. National Register of Historic Places. NYC Landmark. New York City portal Architecture portal. National Park Service. May 8, Verizon Communications. January Within the Financial Service cluster, there were three major sectors: more than 60 percent were in the securities industry ; 20 percent were in banking ; and 8 percent in insurance. Additionally, New Jersey has become the main technology infrastructure to support the Wall Street operations.

Staying Put on Wall Street, Even if Sodden

A substantial amount of securities traded in the United States are executed in New Jersey as the data centers of electronic trading in the U. This includes the majority of the workforce of Depository Trust Company, [78] the primary U. Having a direct tie to Wall Street employment is problematic for New Jersey, however. The state lost 7. Nor is New York. The largest mutual-fund complexes are in Valley Forge, Pa. An example is the alternative trading platform known as BATS , based in Kansas City , which came "out of nowhere to gain a 9 percent share in the market for trading United States stocks".

Dissertations & Theses from 12222

Wall Street in a conceptual sense represents financial and economic power. To Americans, it can sometimes represent elitism and power politics, and its role has been a source of controversy throughout the nation's history, particularly beginning around the Gilded Age period in the late 19th century. Wall Street became the symbol of a country and economic system that many Americans see as having developed through trade, capitalism, and innovation.

Wall Street has become synonymous with financial interests, often used negatively. The U. Analyst Robert Kuttner in the Huffington Post criticized the bailout as helping large Wall Street firms such as Citigroup while neglecting to help smaller community development banks such as Chicago's ShoreBank. When large firms such as Enron , WorldCom and Global Crossing were found guilty of fraud, Wall Street was often blamed, [40] even though these firms had headquarters around the nation and not in Wall Street. Many complained that the resulting Sarbanes-Oxley legislation dampened the business climate with regulations that were "overly burdensome". When the United States Treasury bailed out large financial firms, to ostensibly halt a downward spiral in the nation's economy, there was tremendous negative political fallout, particularly when reports came out that monies supposed to be used to ease credit restrictions were being used to pay bonuses to highly paid employees.

Cohan argued that it was "obscene" how Wall Street reaped "massive profits and bonuses in " after being saved by "trillions of dollars of American taxpayers' treasure" despite Wall Street's "greed and irresponsible risk-taking". But chief banking analyst at Goldman Sachs , Richard Ramsden, is "unapologetic" and sees "banks as the dynamos that power the rest of the economy".

You can construct a banking system in which no bank will ever fail, in which there's no leverage.

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But there would be a cost. There would be virtually no economic growth because there would be no credit creation. Others in the financial industry believe they've been unfairly castigated by the public and by politicians. The financial misdeeds of various figures throughout American history sometimes casts a dark shadow on financial investing as a whole, and include names such as William Duer , Jim Fisk and Jay Gould the latter two believed to have been involved with an effort to collapse the U.

In addition, images of Wall Street and its figures have loomed large. The Oliver Stone film Wall Street created the iconic figure of Gordon Gekko who used the phrase "greed is good", which caught on in the cultural parlance. Rich enough to have your own jet.

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Rich enough not to waste time. Fifty, a hundred million dollars, Buddy. A player. Wall Street firms have however also contributed to projects such as Habitat for Humanity as well as done food programs in Haiti and trauma centers in Sudan and rescue boats during floods in Bangladesh. As a figure of speech contrasted to " Main Street ", the term "Wall Street" can refer to big business interests against those of small business and the working or middle classes. It is sometimes used more specifically to refer to research analysts, shareholders, and financial institutions such as investment banks.

Whereas "Main Street" conjures up images of locally owned businesses and banks, the phrase "Wall Street" is commonly used interchangeably with the phrase "Corporate America". It is also sometimes used in contrast to distinguish between the interests, culture, and lifestyles of investment banks and those of Fortune industrial or service corporations.

According to the discipline of anthropology, the term culture represents the customs, values, morals, laws and rituals which a particular group or society shares. In the public imagination, Wall Street represents economics and finance. However, although Wall Street employees may exhibit greedy and self-interested behaviours to the public, these behaviours are justified through their own value system and social practices.

Various anthropologists have conducted research on Wall Street and it is their research which can confirm the negative views of Wall Street while providing the public with information that can contribute to a better understanding of how Wall Street workers perceive themselves. Anthropologist Karen Ho , who has conducted ethnographic research on Wall Street, states in Situating Global Capitalisms that the markets are beginning to self-regulate themselves in terms of neoliberalism.

It is both appropriate and fitting to call Wall Street a culture because of the system of values and practices it holds onto. Moreover, anthropological insight can help improve the general public's understanding of Wall Street and in turn allow the public to appreciate the culture of Wall Street which is both logical and sensible to the workers themselves.

Instead, it is the public's words and opinions which they feel mold their image. They value seeing themselves as experts in their field, especially since they live in a society that values wealth. Moreover, they do not regret their actions because to them, it is part of being an American. She argues that due to the fact that the financial market is volatile in conjunction with the existence of job insecurity, Wall Street workers are compensated through their salaries.

The banker feels that everything goes through Wall Street, in terms of loans, investments, change or growth. As the banker brings their life experiences into the business, we can see the reasons for their actions. Each investor has a unique identity which contributes to the culture of Wall Street. Ideally, they live in the moment. Ho also believes that the individuals within the public can counteract the stereotypes and negativity that both the media and society associates with Wall Street by learning more about the personal experiences of the investors and their everyday lives.

Their work is sometimes undervalued, because the public does not see them in this manner. Thus, Wall Street cannot be understood in black and white terms. One needs to understand that they have a value system which is not only logical to them, but also reflective of North America's values of individual power, prestige, and social practices based on individualism.

For example, throughout the s and into the s Manhattan was a "white-only" community.