Posted on 11/03/2025 4:04:37 AM PST by DFG
As Wall Street faces the prospect of left-wing firebrand Zohran Mamdani becoming the city’s next mayor, a fast-growing business hub down south is beckoning.
Dallas — whose grab bag of major business moguls has included Ross Perot, Mark Cuban and Jerry Jones — has more recently become a major draw for big financial firms that were born and raised in the Big Apple.
Goldman Sachs is building an 800,000-square-foot, $500 million campus in Dallas. It’s set to open in 2028 and consolidate over 5,000 employees. Last year, the mega bank hired Robert Kaplan, the former president of the Federal Reserve Bank of Dallas, as its vice chairman.
Meanwhile, JPMorgan Chase now employs 31,000 in Texas — more than its 24,000 staffers in New York. That’s despite the fact that the bank just opened a $3 billion Park Avenue headquarters designed by British superstar architect Norman Foster.
“It shouldn’t have been that way, but Texas loves you being there,” CEO Jamie Dimon told Bloomberg in 2023.
Two years later, Wall Street is feeling less love than ever from the Big Apple, as voters are poised to elect a Uganda-born mayoral candidate who has long dabbled in “defund the police” rhetoric and who has pledged to raise taxes on the wealthy.
Fortress Investment Group co-CEO Drew McKnight, who joined the $53 billion asset manager in 2005, told The Post in an exclusive interview that officials have also moved quickly to slash red tape and make the switch more attractive
“New York is still the financial capital of the US and one of the financial capitals of the world … But Texas can compete,” the 47-year-old Goldman Sachs alum said from the firm’s 50,000-square-foot headquarters in Dallas that’s part of what US financiers have dubbed “Y’all Street.”
(Excerpt) Read more at nypost.com ...
New Mexico has brown stone.
FTA
Mamdani’s financial repercussions.
“New York is still the financial capital of the US and one of the financial capitals of the world …”
“But Texas can compete,” a Goldman Sachs alum said from the firm’s 50,000-square-foot hdq in Dallas.
US financiers have dubbed it “Y’all Street.”
Long rumored is the big banks, which have been slowly moving from NYChitty to Miami, will expand down south and continue to move their HQ’s to Miami after ayatollah mamdani is elected...
If New York, New York loses the status of financial capital, expect it will devolve into another derelict Detroit.
Love the name “Y’all Street!”
Nothing is forever.
Lisbon, Portugal used to be the hub of international trade hundreds of years ago.
Frankly I’m suprised more didn’t move out after 9/11. But now that somebody who thinks the high-jackers were just misundetstood is gonna run the city more are saying “eff it, I’m out”.
CC
The south has hurricanes that could disrupt business. Dallas may be a better location in that respect, but it doesn’t have a port. Seems like NOLA would be a good port as long as the river doesn’t change course like it wants to.
Knew a wall street guy who moved from NYC to Hilton Head SC. He votes for the most leftist Republican he can find in the primary but for Democrats in the general.
There is no coming back from that.
Because if you do, criminals might kill you after robbing you...
As the utterly dysfunctional leftist/Democrat enclaves continue to demonstrate that they cannot govern themselves and pose a serious threat to the nation and the American People, it might become necessary to declare them protectorates, governed by the rest of the nation.
If Mamdani gets in and he’s not a front monkey for a deep state I think we’ll see the biggest demented farce play out on the public stage than we’ve ever seen before. I don’t think this guy is a Stalin or a Krueshev. He seem to me to be a grinning moron.
Love the name “Y’all Street!”
Very clever.
He seem to me to be a grinning moron.
While suturing up a cut on the hand of a 75 year old farmer, whose hand had been caught in the gate while working his cattle, the doctor struck up a conversation with the old man. Eventually the topic got around to Hone Hawariwa and how he got to be an MP.
The old farmer said, “Well, ya know, Hone is just a Post Tortoise.”
Now not being familiar with the term, the doctor asked,
What’s a “Post Tortoise?”
The old farmer said, “When you’re driving down a country road and you come across a fence post with a Tortoise balanced on top, that’s a post Tortoise.”
The old farmer saw the puzzled look on the doctor’s face so he continued to explain. “You know he didn’t get up there by himself, he doesn’t belong up there, he doesn’t know what to do while he’s up there, he sure as hell isn’t goin’ anywhere, and you just wonder what prick put him there in the first place.”
the punch line: and you just wonder what prick put him there in the first place.”
“The question is, can communist subversion be defeated without using ‘authoritarian’ measures? Is a constitutional republic equipped to deal with this kind of threat? When someone wages war on your society internally, is there a way to fight them while being civic minded? Probably not.” — Brandon Smith
my find of the day...
It seems a bit odd, but the governor of New York can remove the mayor of New York City. So if a Republican gets in, he is gone.
Yep. I’d expect more of the same.
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