Results tagged “worries”

Over the weekend, a crew removed any mention of "American International Group" from the exterior of 175 Water Street. That office is where the property-casualty business is located and AIG explained that it would be renamed "AIU Holdings Ltd" to "distinguish these well-capitalized businesses from AIG." The Post asked employees outside the building how they felt: One said, "I feel a lot safer now, it's true," while another, who said she was harassed outside the office, added, "If it means we can all turn up to work feeling safer, it's a small price to pay." Last week, AIG CEO Edward Liddy told Congress, "I think the AIG name is so thoroughly wounded and disgraced that we're probably going to have to change it."

With the crappy year investment banks have been having, the NY Times reports government officials are freaking out about "what could be the biggest single-year decline in pay on Wall Street in history." It's believed that total bonus pay will drop "by $10 billion or more"--about a 30% drop from previous years--which means $10 billion less in all sectors of business, from real estate to local shop purchases. That, coupled with news that NYC's growth rate has slowed down, is alarming. City Comptroller William Thompson said, "we’re hitting a period where [city growth] would be stagnant," and deputy state comptroller for NYC Kenneth Bleiwas said, "The greatest risk to the city’s budget is the extent and the depth of the slowdown, particularly as it affects Wall Street. Nobody knows how long it will take to get through this mess.”

For three years straight, NYU has dominated the annual Princeton Review "College Hopes and Worries" survey, coming in as the #1 “dream school” for college-bound students. But now NYU’s reign of dreams has turned into a humiliating nightmare, as the 2008 survey shows the university plummeting to the #4 slot, bested by Harvard, Stanford and Princeton.