Aug

8

Talk about putting statistics on the table. New York once had 25% of the Fortune 500 headquarters in the city. Now it has 3. They've lost countless jobs and become totally dependent on the financial industry, a total risky bet bound to lose because they chased all the big corporations out with their high service rates and union rates. Steve Kagan, the chief economist for the Pataki administration authored those studies, and has followed it up. What a tragedy. Please …. check your premises.

Anatoly Veltman writes: 

I've noticed even trading firms moving to FL. One of new factors: trading is performed by servers co-located at the exchanges; there is no longer any need to keep traders and researchers near the exchanges.

Leo Jia writes: 

Since the mid 90s, people have been imagining the impacts of high-speed networks on business and people's lives. It was argued that some day it wouldn't matter if one was located in New York or the remote Vermont (or the remote China in my own case). That day seemed to have mostly come to pass. For trading, particularly. People may argue that for high speed trading, one (or at least his servers) has to be located at the exchange. But even that is no longer a good choice. As the following article explains, "the most advantageous position to be in, if you're trying to wring a profit from tiny discrepancies in price between two distant trading centers, is at an intermediate point between them" - not at the exchanges.


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