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Article: Stock exchange turmoil strikes at heart of city; Downtown viability may be at risk.(After Richard A. Grasso, New York Stock Exchange Inc.)(Illustration)
- Article from:
- Crain's New York Business
- Article date:
- September 22, 2003
CopyrightCOPYRIGHT 2003 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: jacqueline s. gold
New York City and the New York Stock Exchange have a common name and a linked history. During the booming 1990s, they shared a phenomenal prosperity.
Now that the stock exchange is in turmoil, the city is also sharing its vulnerability.
In the wake of the forced resignation of Chairman Richard Grasso, the New York Stock Exchange faces pressure to make fundamental changes in its governance and culture. While it's unclear what changes will ultimately take place, business leaders say that downtown's viability, and to some extent the economic vibrancy of the city, depend on the stock exchange's ability to maintain its ...