Download or read book The Aftermath of the 9 11 Attack in the New York City Office Market written by Franz Fuerst and published by . This book was released on 2009 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although almost eight years have passed since the terrorist attacks of September 11, 2001, researchers continue to investigate the consequences of this far-reaching event in a variety of scientific disciplines and subject areas. In economic research, a number of more recent publications have added to existing body of literature by elucidating the medium- and long-term impact of the attacks using new methods and/or data. This paper is more modest in scope in that it reviews the impact of the attacks on the Manhattan's office inventory, employment and rents. Overall, there is scant evidence that the attack have had a long-lasting impact on the Manhattan office market. Of the companies that decided not to return to Lower Manhattan after 9/11, the majority relocated to Midtown Manhattan. Taken together, the core markets of Midtown and Downtown Manhattan captured about 80 percent of the stream of displaced tenants after 9/11, while areas outside of these two core clusters captured only 20 percent, which bodes well for Manhattan's ability to remain a prime office location even in the face of a severe crisis. The majority of businesses directly affected by the attack have opted to remain in the Downtown area or have returned there after the damaged buildings were restored. Moreover, the set of so-called quot;trophyquot; buildings proved to be less affected by the recession than the general market, a finding that runs counter to initial assumptions about the future of office high-rises. In addition to a drastic reduction in leased space, accommodation of displaced tenants within the existing office space portfolio of large companies contributed further to lower occupancy rates than had been expected after the destruction of 10 percent of the inventory. This phenomenon, also known as backfill, caused overall absorption to be negative in the quarters following 9/11, since the positive demand created by displaced tenants was more than offset by losses incurred in the accelerated recession.

Download or read book Resilient City written by Howard Chernick and published by Russell Sage Foundation. This book was released on 2005-08-25 with total page 347 pages. Available in PDF, EPUB and Kindle. Book excerpt: The strike against the World Trade Center on September 11, 2001, was a violent blow against the United States and a symbolic attack on capitalism and commerce. It shut down one of the world's busiest commercial centers for weeks, destroyed or damaged billions of dollars worth of property, and forced many New York City employers to slash their payrolls or move jobs to other areas. The immediate economic effect was substantial, but how badly did 9/11 affect New York City's economy in the longer term? In Resilient City, Howard Chernick and a team of economic experts examine the city's economic recovery in the three years following the destruction of the Twin Towers. Assessing multiple facets of the New York City economy in the years after 9/11, Resilient City discerns many hopeful signs among persistent troubles. Analysis by economist Sanders Korenman indicates that the value of New York–based companies did not fall relative to other firms, indicating that investors still believe that there are business advantages to operating in New York despite higher rates of terrorism insurance and concerns about future attacks. Cordelia Reimers separates the economic effect of 9/11 from the effects of the 2001 recession by comparing employment and wage trends for disadvantaged workers in New York with those in five major U.S. cities. She finds that New Yorkers fared at least as well as people in other cities, suggesting that the decline in earnings and employment for low-income New York workers in 2002 was due more to the recession than to the effects of 9/11. Still, troubles remain for New York City. Howard Chernick considers the substantial fiscal implications of the terrorist attacks on New York City, estimating that the attack cost the city about $3 billion in the first two years alone; a sum that the city now must make up through large tax increases, spending cuts, and substantial additional borrowing, which will inevitably be a burden on future budgets. The terrorist attacks of September 11 dealt a severe blow to the economy of New York City, but it was far from a knock-out punch. Resilient City shows that New York's dynamic, flexible economy has absorbed the hardships inflicted by the attacks, and provides a thorough, authoritative A Russell Sage Foundation September 11 Initiative Volume

Download or read book Recovering 9 11 in New York written by Robert Fanuzzi and published by Cambridge Scholars Publishing. This book was released on 2014-04-23 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection of essays offers a rich variety of approaches to how people and institutions in greater New York have sought to find meaning in the 9/11 attacks on the World Trade Center, now a decade on. The views and practices documented here join memory, recovery, and rebuilding together to form a vital new chapter in New York’s metropolitan history. Contributors contest the dominant nationalist narrative about 9/11 to generate a more local and socially-engaged form of scholarship that connects directly with the experiences of people who lived or came to work in New York that fateful day and the years that followed. In doing so, these essays give academics and clinical professionals an opportunity to reflect upon and work with the people of a community – in this case, metropolitan New York – as essential partners, and even the main protagonists, in creating new paradigms to capture the significance of these events and their aftermath. The collection is comprised of sixteen essays by experts drawn from a wide range of scholarly and professional fields. They investigate how people across the New York metropolitan region initially responded to and have since remembered the events of September 11th as they rippled out into the city, the surrounding metropolitan region, and the nation at large. They engage directly with the emotional and psychological aftermath of the attacks, approaching the questions of healing and teaching from a variety of institutional, professional, and non-professional perspectives. The volume concludes with a selection of essays that grapple with the challenge of “Representing 9/11.” Contributors to this section evaluate contemporary novels and films that have risked engagement with deep narrative traditions to translate the recent memory of public events into resonant stories and imaginative language. Readers are invited to consider how all these responses – in literature, memorials, media representations, and the words and actions of diverse individuals – still contribute to the complex, yet inescapable challenge of making meaning of 9/11.

Download or read book Wounded City written by Nancy Foner and published by Russell Sage Foundation. This book was released on 2005-08-25 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: New York has eight million deeply personal and unique stories of pain and perseverance from September 11, 2001. But the toll of tragedy is greater than the anguish it inflicts on individuals—communities suffer as well. In Wounded City, editor Nancy Foner brings together an accomplished group of scholars to document how a broad range of communities—residential, occupational, ethnic, and civic—were affected and changed by the World Trade Center attacks. Using survey data and in-depth ethnographies, the book offers sophisticated analysis and gives voice to the human experiences behind the summary statistics, revealing how the nature of these communities shaped their response to the disaster. Sociologists Philip Kasinitz, Gregory Smithsimon, and Binh Pok highlight the importance of physical space in the recovery process by comparing life after 9/11 in two neighborhoods close to ground zero—Tribeca, which is nestled close to the city's downtown, and Battery Park City, which is geographically and structurally separated from other sections of the city. Melanie Hildebrandt looks at how social solidarity changed in a predominantly Irish, middle class community that was struck twice with tragedy: the loss of many residents on 9/11 and a deadly plane crash two months later. Jennifer Bryan shows that in the face of hostility and hate crimes, many Arab Muslims in Jersey City stressed their adherence to traditional Islam. Contributor Karen Seeley interviews psychotherapists who faced the challenge of trying to help patients deal with a tragedy that they themselves were profoundly affected by. Economist Daniel Beunza and sociologist David Stark paint a picture of organizational resilience as they detail how securities traders weathered successive crises after evacuating their downtown office and moving temporarily to New Jersey. Francesca Polletta and Lesley Wood look at a hopeful side of a horrible tragedy: civic involvement in town meetings and public deliberations to discuss what should be done to rebuild at ground zero and help New Yorkers create a better future in the footprints of disaster. New Yorkers suffered tremendous losses on September 11, 2001: thousands of lives, billions of dollars, the symbols of their skyline, and their peace of mind. But not lost in the rubble of the World Trade Center were the residential, ethnic, occupational, and organizational communities that make up New York's rich mosaic. Wounded City gives voice to some of those communities, showing how they dealt with unforeseen circumstances that created or deepened divisions, yet at the same brought them together in suffering and hope. It is a unique look at the aftermath of a devastating day and the vitality of a diverse city. A Russell Sage Foundation September 11 Initiative Volume

Download or read book September 11 written by United States. Government Accountability Office and published by . This book was released on 2005 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Exogenous Shocks and Real Estate Rental Markets written by Franz Fuerst and published by . This book was released on 2005 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: Any attempt to measure the impact of the 9/11 attacks is faced with the difficulty of separating the effects of the attacks from the impact of a wider economic recession and other simultaneous events. This study attempts to isolate the effect on New York office rental and vacancy rates by applying an event study methodology. The results support the hypothesis of significant effects of the September 11 attacks in the New York office market. These effects seem to be limited, however, in terms of their spatial and temporal impact. While the New York office market as a whole has demonstrated remarkable resiliency in the wake of the attack, the downtown market and particularly the World Trade Center submarket have been affected more clearly. Measured three years after the attack, however, cumulative abnormal changes in vacancy rates are moderate in the downtown submarket, indicating a much weaker medium-term impact of the attack than expected in its aftermath.

Download or read book September 11 written by Associated Press and published by Union Square & Co.. This book was released on 2021-08-03 with total page 637 pages. Available in PDF, EPUB and Kindle. Book excerpt: A commemoration of the 20th anniversary of 9/11 as told through stories and photographs from The Associated Press—covering everything from the events of that tragic day to the rebuilding of the World Trade Center and beyond. This important and comprehensive book commemorates the 20th anniversary of September 11 as told through stories and images from the correspondents and photographers of The Associated Press—breaking news reports, in-depth investigative pieces, human interest accounts, approximately 175 dramatic and moving photos, and first-person recollections. AP’s reporting of the world-changing events of 9/11; the heroic rescue efforts and aftermath; the world’s reaction; Operation Enduring Freedom; the continuing legal proceedings; the building of the National September 11 Memorial & Museum in New York City as a place of remembrance; the rebuilding of downtown NYC and much more is covered. Also included is a foreword by Robert De Niro. The book tells the many stories of 9/11—not only of the unprecedented horror of that September morning, but also of the inspiring resilience and hope of the human spirit.

Download or read book New York After 9 11 written by Susan Opotow and published by Fordham Univ Press. This book was released on 2018-09-04 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: An estimated 2 billion people around the world watched the catastrophic destruction of the World Trade Center. The enormity of the moment was immediately understood and quickly took on global proportions. What has been less obvious is the effect on the locus of the attacks, New York City, not as a seat of political or economic power, but as a community; not in the days and weeks afterward, but over months and years. New York after 9/11 offers insightful and critical observations about the processes set in motion by September 11, 2001 in New York, and holds important lessons for the future. This interdisciplinary collection brings together experts from diverse fields to discuss the long-term recovery of New York City after 9/11. Susan Opotow and Zachary Baron Shemtob invited experts in architecture and design, medicine, health, community advocacy, psychology, public safety, human rights, law, and mental health to look back on the aftereffects of that tragic day in key spheres of life in New York City. With a focus on the themes of space and memory, public health and public safety, trauma and conflict, and politics and social change, this comprehensive account of how 9/11 changed New York sets out to answer three questions: What were the key conflicts that erupted in New York City in 9/11’s wake? What clashing interests were involved and how did they change over time? And what was the role of these conflicts in the transition from trauma to recovery for New York City as a whole? Contributors discuss a variety of issues that emerged in this tragedy’s wake, some immediately and others in the years that followed, including: PTSD among first responders; conflicts and design challenges of rebuilding the World Trade Center site, the memorial, and the museum; surveillance of Muslim communities; power struggles among public safety agencies; the development of technologies for faster building evacuations; and the emergence of chronic illnesses and fatalities among first responders and people who lived, worked, and attended school in the vicinity of the 9/11 site. A chapter on two Ground Zeros –in Hiroshima and New York – compares and historicizes the challenges of memorialization and recovery. Each chapter offers a nuanced, vivid, and behind-the-scenes account of issues as they unfolded over time and across various contexts, dispelling simplistic narratives of this extended and complicated period. Illuminating a city’s multifaceted response in the wake of a catastrophic and traumatic attack, New York after 9/11 illustrates recovery as a process that is complex, multivalent, and ongoing.

Download or read book Review of Studies of the Economic Impact of the September 11 2001 Terrorist Attacks on the World Trade Center written by Nancy R. Kingsbury and published by DIANE Publishing. This book was released on 2002-10 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt: Identifies and reviews several key studies of the economic impact of the Sept. 11, 2001, terrorist attacks on the World Trade Center buildings in N.Y. City, which caused enormous destruction. Eight studies from 7 different organizations were identified as being the most comprehensive studies available on the economic impact of the attacks: N.Y. City Office of the Comptroller; N.Y. Governor and State Div. of the Budget; N.Y. City Partnership and Chamber of Commerce; Fiscal Policy Institute; N.Y. State Senate Finance Committee; Miliken Institute; and N.Y. State Assembly Ways and Means Committee. In addition, recent studies by the Federal Reserve Bank of N.Y. and the N.Y. City Independent Budget Office include updated information on some of the economic impacts.

Download or read book Review of Studies of the Economic Impact of the September 11 2001 Terrorist Attacks on the World Trade Center written by United States. General Accounting Office and published by DIANE Publishing. This book was released on 2002 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reviews eight studies on the economic impact of the terrorist attacks on the World Trade Center on September 11. Assesses the extent to which they follow basic principles of standard economic analysis. Includes information used as the basis for a briefing for Congressional staff held on April 15, 2002.

Download or read book The Real Estate Market in the Aftermath of September 11 written by Crocker H. Liu and published by . This book was released on 2004 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines the reaction of the financial markets to the terrorist attack on the World Trade Center and how their behavior compared to the subsequent resolution in the corresponding real asset markets. This event provides an ideal setting to evaluate the accuracy of the market's reaction to external shocks since, unlike almost all studies of economic events, this tragedy was certainly unanticipated and thus absent from pre-existing market expectations, its overall impact was unclear, and the subsequent week of market closure gave market participants sufficient time to sort out the complex impact of the event on market prices. Our analysis of Real Estate Investment Trusts (REITs) with New York office exposure outside of the downtown area shows that, during the period of market closure and the first trading day, the equity market did not accurately anticipate how this event would impact office REITs. Specifically, we find that REITs with significant exposure to the New York market showed significant gains relative to REITs without New York exposure (an average difference of 4.057% of market value from the close on September 10 to the opening on September 17), and that this abnormal return disappeared only in November 2001. However, an examination of the underlying real asset market's performance over the first few months after September 11 shows that New York properties significantly under-performed similar office properties in the U.S. This evidence provides little support for the notion that financial markets can rapidly and correctly price significant shocks to the underlying economy.

Download or read book 9 11 and the New York City Economy written by Michael L. Dolfman and published by . This book was released on 2004 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book September 11 health effects in the aftermath of the World Trade Center attack testimony before the Subcommittee on National Security Emerging Threats and International Relations Committee on Government Reform House of Representatives written by and published by DIANE Publishing. This book was released on with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Impact of 9 11 on Politics and War written by M. Morgan and published by Springer. This book was released on 2009-08-03 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Impact of 9/11 on Politics and War is the first volume of the six-volume series The Day that Changed Everything? edited by Matthew J. Morgan. The series brings together from a broad spectrum of disciplines the leading thinkers of our time to reflect on one of the most significant events of our time.

Download or read book Triumph Over Tragedy written by John Duffy and published by John Wiley & Sons. This book was released on 2002-11-20 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: A true story of rebuilding and remembrance in the wake of tragedy The September 11 attacks on the World Trade Center devastated investment banking and brokerage firm Keefe, Bruyette & Woods, Inc. (KBW) in every way possible. KBW's headquarters were located on the eighty-eighth and eighty-ninth floors of 2 World Trade Center and as a result of the attacks, the company lost one-third of its staff. The enormity of KBW's plight raises the question about how much a single company can lose and still conjure the strength and resources to regenerate itself. Triumph over Tragedy is the story of a group of people with indomitable spirit who literally fought their way out of the collapsing building to revive their company, support each other, and care for the victims' families. This inspirational book captures the experiences of KBW's survivors, including that of author and KBW CEO John Duffy who lost his son, Christopher, and longtime partner, co-CEO and Chairman Joseph Berry. Triumph over Tragedy introduces readers to the individuals behind the news stories: those representing a nation of people and businesses struggling to cope. This book also provides valuable lessons on rebuilding, which are reflected in the personal stories told by the KBW staff and the choices made at KBW regarding leadership, support for the families of those missing or dead, and methods for reestablishing the business.

Download or read book Pentagon 9 11 written by Alfred Goldberg and published by Office of the Secretary, Historical Offi. This book was released on 2007-09-05 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: The most comprehensive account to date of the 9/11 attack on the Pentagon and aftermath, this volume includes unprecedented details on the impact on the Pentagon building and personnel and the scope of the rescue, recovery, and caregiving effort. It features 32 pages of photographs and more than a dozen diagrams and illustrations not previously available.

Download or read book The Ground Truth written by John Farmer and published by Penguin. This book was released on 2009-09-08 with total page 342 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the senior counsel to the 9/11 Commission, a mesmerizing real-time portrayal of that day, why we weren?t told the truth, and why our nation is still at risk. As one of the primary authors of the 9/11 Commission Report, John Farmer is proud of his and his colleagues? work. Yet he came away from the experience convinced that there was a further story to be told, one he was uniquely qualified to write. Now that story can be told. Tape recordings, transcripts, and contemporaneous records that had been classified have since been declassified, and the inspector general?s investigations of government conduct have been completed. Drawing on his knowledge of those sources, as well as his years as an attorney in public and private practice, Farmer reconstructs the truth of what happened on that fateful day and the disastrous circumstances that allowed it: the institutionalized disconnect between what those on the ground knew and what those in power did. He details ?terrifyingly and illuminatingly?the key moments in the years, months, weeks, and days that preceded the attacks, then descends almost in real time through the attacks themselves, portraying them as they have never before been seen. Ultimately, Farmer builds the inescapably convincing case that the official version not only is almost entirely untrue but serves to create a false impression of order and security. The ground truth that Farmer captures suggests a very different scenario?one that is doomed to be repeated unless the systemic failures he reveals are confronted and remedied.