[libertylover]

I the "old days" I can see the advantage of businesses being being physically close together..."Here boy, run this box of documents over to Smith and Jones on 34th Street"...But with phones and the internet etc., one can be almost anywhere in the world and do many of those jobs.

If you call Dell's support number, you end up talking to someone in India (and hope you can understand their accent).

[KarlInOhio]

"...But with phones and the internet etc., one can be almost anywhere in the world and do many of those jobs.

But just make sure that New York can collect taxes on them. I saw on FR one man who lived in Tennessee but worked for a company in NYC and either New York State or City (or both) required him to pay New York income taxes.

[Pharmboy]

Yes...excellent point.

[hedgie]

Yes, in the old days (like 1980) you had to physically deliver securities to settle a trade. Therefore, the Wall Street operations departments had to be located close to one another. Any broker-dealer had a "cage" which was essentially a teller window where securities were received, delivered and tabulated.