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. Read more »
As you may have noticed, UBS has been going through some what of a rough patch. Profits are not what they once were, the IRS won’t let them help people evade taxes anymore and management has had a very difficult time convincing people not to quit, with a decent amount of senior departures occurring in the last several months. The deflections for the most part have to do with people wanting to get paid (there hasn’t been a lot of that in a while at UBS, though some staff recently received raises and higher-ups have pinky-sworn future pay will be competitive with other firms), but the bank is thinking the problem lies less with compensation and more with geography. Specifically, Stamford, CT, where the largest trading floor in the world is located. As we have reported, the equities team will be moving to New York later this summer and after casually mulling over the idea, management is now seriously considering moving the whole shebang, which they believe will solve all problems. Read more »
Back in February, we noted that UBS was mulling a move out of the I-95 palace it’s inhabited since the 90s; later, were were told the bank had informed employees that Equity sales and trading would be moving to New York, while the rest of the floor would remain in the Stamford Superdome, at least for now. Stamford Mayor Michael Pavia apparently received similar intel at the time “causing him to take the rumors seriously.” And just last week, State House Minority Leader Lawrence Caferno (R-Norwalk) was informed by well-placed sources that UBS has one and half feet out the door. “Their plan is they’re moving their trading floor. They’re gone,” Cafero toldGreenwich Time. “It would be so sad and devastating on so many levels.” Why is UBS doing this to Big Lar? According to the Swiss, they’re not, and his late-night crying jags are for naught. Read more »
First off, you remember the Connecticut man who fisted a horse, yes? For those who fail to recall, last fall, Shelton resident Marian Wegiel was accused of forcing himself on a horse, having been found with “much of his arm inside the animal’s vagina.” Read more »
As you may have heard, Jets quarterback Mark Sanchez has a 17 year-old lady friend. Her name is Eliza Kruger (pictured) and she’s a high school student in Greenwich who he met at nightclub Lavo on New Year’s Eve. Liking what he saw, Sanchez gave her tickets to the January 2 Jets/Bills game and then, a week later, took her dinner at Nobu and back to his house in New Jersey where they “hooked up” (she posted pictures to Facebook of a bed with rumbled sheets afterward, natch). For those of you wondering if Sanchez was wading into statutory rape category- he wasn’t. Eliza looked up the age of consent in New Jersey and it’s 16, so everything was cool. Or at least it should have been but sometimes people get bent out of shape when a 24 year-old has relations with a girl who was 11 when he was 18. What also made things awkward was that Eliza seems to have just been in it for the sex but Sanchez wanted more! He would text her at all hours of the night, like at 2am on a Wednesday to “hang out” and she respond, “Um, I have school tomorrow.” He was contacting her as recently as January 24, seeing if she wanted to chill after the Jets lost the AFC Championship Game and people, like Eliza’s father, started to be all, “leave her alone, stalker.”
But! Today brings news Sanchez might not have been actually harassing a 17 year-old girl but rather trying to get to her dad, knowing the guy could offer him unparalleled investment advice, Papa Kruger being Konrad “Chip” Kruger, a partner in Stamford-based financial firm Five Mile Capital Partners and founder/former co-CEO of Greenwich Capital. Read more »
If you’ve been in the market 36,000 square feet of space- to use in its current form as a trading floor, to create the world’s biggest CandyLand board, or to play a game of Twister with 10,000 people–, you may be in luck in the not completely distant future. Read more »
It’s not just doctors and scientists that need STEM education. America’s shifting economy is demanding more trained workers in many different sectors. See how Travis Brooks got the hands-on education he needed to become a technician at the Chevron Pascagoula Refinery. Visit The Atlantic to learn more.