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NEW YORK TWO MONTHS AFTER THE ATTACKS. HOW HAVE THE COMPANIES OF
THE WTC REACTED?

Radio24

By Sissi Bellomo

November 04, 2001

11 September. 11 November.
Two months have passed since the attack on the twin Towers of New
York. Between the smoking ruins at ground Zero, they continue to dig.
America has not stopped to mourn its dead: at least 4000. Among them,
there were also the passengers of the two diverted airplanes and some
tourists who admired the panorama from the terraces of the skyscrapers.
But nearly all the victims from the attacks were at their place of work.

Because this was the World Trade Center: an immense place of offices, it
accommodated - between the twin towers and the other buildings of the
area, the offices of thousands of people. Among them, many important names of
the financial community. That in some case they have endured the most
serious losses on the plan of the human resources and the structures.

The company that has endured the more serious losses from the human
point of view is Cantor Fitzgerald, a company of financial services that
managed approximately a quarter of the transactions on the American bond
market. In its offices - in the top 4 floors of the North Tower -
approximately 700 employees were trapped after the first plane hit. The
company has decided to help the families of the victims, with a bonus of
45 million dollars, plus a quarter of the profits of next the 5 years.
Hardly hit also from the economic point of view, Cantor Fitzgerald has
been forced to close the centers of Paris and Frankfurt. The number of
victims has been much less for Morgan Stanley, the first renter of the
twin towers, with beyond 250 million meters of square feet.

Of the 3700 Morgan Stanley employees that worked in the World Trade
Center, only 7 are dead. But the attack has ultimately damaged the
accounts of the merchant bank, and it was already crossing a difficult period. In
April it sent 1500 letters of lay-offs. Another 200, according to
insiders, would be in next, after the third trimester closed with
decreasing profits of 41% for the year. In the meantime, Morgan Stanley
operates from new centers for its offices, far away from Manhattan.

To confirm their intention of moving away from the city, Morgan Stanley
also sold to its competitors, Lehman Brothers, a tower of 32 stories
that it had built as its headquarters. An analogous situation is that of
American Express, as it has also had to relocate on the other side of
the Hudson river, because its headquarters in
Liberty Plaza is at risk of a landslide.

The company that counts the next greatest losses after Cantor Fitzgerald
is Marsh McLennan (over 300), the first world-wide broker for turnover
that specializes in insurance services and risk management. Marsh had
offices in both Twin towers. The loss from the human point of view is
incomparable. But the activity of the company has continued without much
disruption.

In the area of the World Trade Center, 19 buildings have been destroyed
or damaged. Their tenants were hundreds of companies that have been
forced to transfer their offices. TenantWise, an online real estate
advising company of the Corsair Group in New York, is monitoring the
situation. 

IL SOLE 24 ORE - Tutti i diritti riservati
 

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