Earlier this week, we discussed the possibility of UBS moving out of its Stamford, CT building (which houses the largest trading floor in the world) and into New York City. The bank, which has not been doing so hot of late, seems to believe that leaving Stamford would be a panacea for all its woes which, according UBS, boil down to no one wanting to work in Connecticut (rather than no one wanting to work at a place that doesn’t pay and yells at you when you ask if this month’s check will clear). Some staff have already been transferred with plans to move more later this summer but talk of moving the whole shebang, until recently, had been very casual. Once word got out that the bank has been speaking with developer Larry Silverstein about a possible deal at 3 World Trade Center, which conveniently has 5 trading floors located in “Tower 3,” they got upgraded to one step up from casual and got the people of Stamford freaking the fuck out.
Take Danny Ryan, a bartender and waiter at Morton’s. For the past fews days he’s been struggling to answer one simple question- why?
“It just doesn’t make any sense,” said Danny Ryan, a bartender and server at Morton’s The Steakhouse, which is alongside the gleaming 700,000-square-foot UBS building. “Why would they build this stunning building with the biggest trading floor in the world, and then leave?”
Dino Sakakini, owner of Layla’s Falafel was less philosophical and more blunt. “Stamford will be crushed,” he told the Times. “Plain and simple. We’ll become a ghost town.”
Peter Charpentier, who “sells a whole lot of brown-bagged bottles of liquor to UBS employees every evening,” was just plain pissed, both at CT officials and whoever’s making the decisions at the bank, who apparently forgot about a little thing called 9/11.
“The State of Connecticut should be begging them to stay. I’m a man who believes in trickle-down economics. You take away UBS and it affects everything and everybody. What happens to all the restaurants? How about the window washers? The elevator operators? The janitors, the gardeners? It would be disastrous.” UBS is currently negotiating for space at 3 World Trade Center, an 80-story office tower planned for Lower Manhattan, and Mr. Charpentier wondered why anyone would want to move there. “You couldn’t pay me to work at a World Trade Center tower,” he said. “Have they forgotten about 9/11?”
Laure Aubuchon, Stamford’s economic development director just wants a god damn straight answer so he can stop giving it away for free.
“Frankly, it’s hard to give an honest comment when we don’t know what’s going on,” said Laure Aubuchon, the city’s economic development director. “Is UBS leaving altogether? Are they moving the headquarters and leaving some people here? Is this all just a fire drill, and at the end of the day, they’re not only not leaving, but bringing in more employees? We’re operating on the premise that they’re going to stay, and we’re making them feel as loved and important as they are.”
As for UBS employees? Their emotions run the gamut.
One guy is psyched.
“I live in Manhattan, so I do the reverse commute…The train ride is like 45 minutes, then I ride my bike through Central Park to get home. If UBS moves back to Manhattan, I’ll save $300 a month in train fare and major aggravation. Awesome.”
Another guy is crushed.
“I moved up here from New York City 16 years ago because of UBS,” said the trader, who would not give his name. “They were relocating, so I said, O.K., here we go. I met my wife, we have a family; there’s no way I’m moving them to the city.”
And this guy wants everyone to shut up and get over it.
One trader, who declined to give his full name, was sipping a beer at an outdoor table. “What’s the big deal?” he said. “So we move out, and a nice big Costco moves in. Life goes on.”
In a hideous oversight, it appears the staff of Beamers Cafe were not asked for their take on the move, despite the fact that it would obviously be a serious blow to business. So we’ve reached out to a representative and will let you know how they’re holding up when we hear back. In the meantime, it seems obvious that the people and business owners of Stamford would feel better if they knew another tenant would be taking over the 36,000 square foot space, so if you’ve got any ideas, do pitch them now.
“UBS is currently negotiating for space at 3 World Trade Center, an
80-story office tower planned for Lower Manhattan”
The terrorists have won.
Girl …U B Killin thum….U B Killin thum…
” . . . serious blow to business.”
That’s at least a triple entendre.
UBS sucks
So are we buying OUTS on all the businesses in Stamford now or WHAT!!?
Best post in a while. While done, BL.
Costco > BJ’s > UBS
I vote for Beamers to expand into the space.
very while done, indeed
“So we move out, and a nice big Costco moves in. Life goes on.”
- Sounds like Stamford is trading up. Plus a certain someone will have easier access to those delicious and reasonably-priced Costco cheesecakes.
Unable to collect himself, the manager of Stamford Honda/Acura could only reply in a soft whimpering noise.
it’s a good post but pretty standard DB post. hardly “best in a while.”
hell yes!
-SC
“at the end of the day, they’re not only not leaving, but bringing in more employees?”
I can assure you that is not the case.
You must really enjoy costco? > BJ’s? seriously?
agreed. BL’s standard level of excellence
-guy who knows he’s sucking up but it’s still true
Laure is living in a fantasy world.
Fine, fine. I’m gonna take you off my list of successful people today.
It would make a nice grow op. Or a skateboard park. Or flea market. Or paintball emporium.
No worries. The “I am a hoodie ninja” TV spots will bring in more than enough customers to make up for the UBS loss. Although, the Costco managers are known to swim upmarket into Acura territory.
BTW, where can I park my Civic* for less than $150 in Manhattan?
- UBS MD
*already sold the wife’s Accord
Or the worlds biggest cat shelter.
- MBA Girl from yesterday
“I’ll save $300 a month in train fare and major aggravation. Awesome”
please discuss
You can thank your former mayor and the current governor Dannel for these business entitties bailing out. Why pay the taxes we pay to live in CT when you can pay effectively the same amount and live in the greatest city in the world? UBS, gone, Hamilton Standard gone, Yardley in Stonington gone, Akrai in Waterbury gone and Richters in New Haven closing. All under Dannels watch.
CT is open for business, which means open for other states to take them.
“I’ll save $300 a month in train fare…Awesome.”
Being really pumped for $300 is the antithesis of NKI
The guy who is psyched that he’ll save $300 dollars a month – do I know him?
- IB IT Guy
That is the NKI at UBS
Swamp Meet
Odds of UBS North America actually still being in existence as a major IB in 2015 when 3 World Trade is complete: 10:1 against.
-ex-CIBC Oppenheimer employee who remembers the original name of the PWC building @ 42nd/Madison
Vince Mcmahon’s WWE (located in Stamford) to turn UBS trading floor into XFL indoor football arena.
Or at least since yesterday’s tour de force on Mlle. Bove.
Two words: Stamford Whalers
So long as we all agree that both BJ’s, the wholesale club and the sex act, are better than UBS, you can reorder them any way you want.
agreed- best post since yesterday.
I can’t tell if you *really* like BJ’s, the wholesale warehouse, or if you have no idea what it is at all.
LOL
YES.
-SC
$300/month is a Civic AND a Fit. Sometimes it’s just the fucking principle.
UBS MD
I have two words for you Stamford. Jai and Alai. World’s biggest Jai Alai arena…Boom….already built.
My mistake. I was not aware that it was a wholesale club. I retract my previous comment.
Who is to be buying my delicious slushies?
http://www.youtube.com/watch?v=zD_NiGdfFa8
Yes, Yes, please more
S.A.: Fine, but if I win, we go to your place and have, you know, gay sex.
Ramon: Have you ever even played jai alia?
S.A.: Uh, actually, lacrosse, but it’s jai alai for white people.
Ramon: Lacrosse is gay.
S.A.: You’re gay. I mean.. I am.. too. We’re both gay.
Thank you PermaGuest, made my day
Where does he leave his bike during the day?
??
I know right? Like where is this bike rack? must be guarded?
They have elevator operators?
Please discus:
This is no big deal, really. These guys from UBS come in and hang around for hours. They try and feel you up, and want to finger bang you in the back room. And what do we get for a tip? Diversify and buy gold. UBS sucks.
Bambi from Beamers
I see what you did there
rotflmao, atgfflsh (about to get fired for laughing so hard)
Alcohol in brown bag… life is really tough in UBS
Hey who elected Malloy? Whoever did can take the bow for this become a second rate high tax state. Ranked 47th for business friendly, before the tax increase, it might go to the bottom.Pre-Weicker and income tax, CT had an advantage. But Democrats tax and spend polices have wrecked the state.
There are some serious dumbfuck managers in UBS IT in Stamford who think they are the shitz and I hope they stay there when everyone moves. Better, I hope they move to a competitor.
Moving to Manhattan will make it much easier for the UBS people to go to interviews at other banks.
Yep. You can get your Tag Heur, TP, and some cheesecake all at the same place come bonus time.
Who cares? I don’t give a damn where will those clowns go. They don’t pay hardly any taxes in this god damn state anyway. Trading floor??? Give me a break. Why this idiotic government didn’t put a trade tax yet – I don’t know. Oh. Wait a minute, they get bribes from those banksters, so gangs (GS, MER, MS, C, JPM, and others) can make more money and sleep well at night. And their “traders” and “quant computer programs” rob blue collar workers every day from their 401k, pensions, etc. High frequency trading should be taxed at least at 70%. That would help pay off our debts and put some stability in place in the market.
u mad bro?
this is so funny, Stamford is the worst, the CT douche bag factor is too much. Good luck UBS, seems like a smart move.