Posted on 12/16/2020 6:27:57 PM PST by yesthatjallen
New York’s golden geese are flying south, and not just for the winter.
The analytics firm Unacast reports that more than 3 million have fled the city during the pandemic — replaced by slightly fewer who earn a lot less, for a net reduction in income of some $34 billion. Its estimates, based on cellphone data, may be off a bit, but signs that higher earners have left town are everywhere.
And top businesses are eyeing the exits, too. Deutsche Bank AG is the most recent in a long line of major companies looking to escape the tax-heavy, high-cost city to set up headquarters in friendlier business climates such as Florida and Texas.
The German investment bank is considering moving nearly half of its 4,600 Manhattan staffers to smaller hub cities around the country over the next five years, exploiting the newly discovered convenience of remote work.
Just last week, Goldman Sachs announced it’s looking to move its asset-management arm, which generates $8 billion a year of revenue for the city.
And billionaire Paul Singer is already moving the headquarters of his $41 billion hedge fund Elliott Management from Manhattan to Florida.
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(Excerpt) Read more at nypost.com ...
How are you going to make up that revenue Bill? Tax the non-riders of the subways even more?
I have a relative in NC that lived in a gated community. It was run by absolutely mindless NYC transplants. Complete arrogant know it alls with leftist ideals at everything they did. They tried bossing the locals around like they were just piss ants. The relative had to leave.
My point is, I think NYC should be blockaded with tanks and machine guns. They crapped their own nest, let them stew in it.
Knowing DeBlowhard, he will make up for the lost revenue by eliminating what’s left of the police.
Nobody can put up with mayor Warren Wilhelm or King Cuomo the Great(real short but great)
Lots of foreigners. That is how NYC population has not collapsed.
Property taxes - the writing is on the wall
We are never going back to the offices - not like before. People like working from home and companies like not having to pay for expensive office space. Commercial real estate is going to suffer and expensive cities like New York and San Francisco are really going to suffer. A crappy salary in one of those two cities is a great salary in most of America. If you can do the job from Paducah or Huntsville and have a much higher standard of living, why wouldn’t you?
Lords Valley, near the country club
Capitalism will put AOC out of a job as she loses the city that spawned such ameriatrash as her
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