Talent Flight Feared by City Firms

at least the sun doesn't have to worry about declining circulation

Faustus - by "talented professionals" you mean parasitic investment bankers and wall street stooges? What makes you so talented that you can take digs at me? How many companies have you started and what have you personally created?

LICC doesn't live in NYC. He lives in LICC.

"Ignoring comment by petrfitz."

faustus = wallstreeter = transaction processor = nothing more than a credit card machine = out of a job loser

"Ignoring comment by petrfitz."

and petrfitz, you started an online video game company (or some other frivolous thing). that's not exactly curing cancer, buddy

its true i did start a video game company, a good portaio of those game were educational for kids - reading, colors, shapes, social emotional etc, now my media company is entirely focused on childrens educational content, and technology platforms.

evillager - how about you what gives you the right to throw stones? Oh yeah you are on the sell side. Truly a contribution to society.

petrfitz,
i fear for the future of this country's youth if they are actually playing your video game,as we'll end up with a generation of name-callers, tantrum throwers, gross exaggerators and political spinsters.

petrfitz - first, I'm not sell side. my profession is to make a superior risk-adjusted return for my clients, but that's besides the point. I never said that my job directly benefits society in any way. however, my income supports lots of local businesses - restaurants, cafes, dry cleaners, delis, etc. the same applies to anyone on wall street, so I would think twice before you cheer anyone losing their job or moving out of town - some of the middle class that you profess to care so much about just might end up being hurt.

as for your little video games, I think kids are better off playing outside or reading books.

NYC has been declining for a while now. Due to liberal policies such as excessive taxation and regulations, the best companies and people are leaving NYC for other parts of the country. NYC is now a second-tier city.

really rufus? can you name some firms? I don't think you can. because as far as I know, even big hedge funds in connecticut (pequot, sac) have re-opened/expanded offices in nyc in the last few years since that is the best place to attract talent

move to chicago already

goldman, lehman, morgan, merrill, and top hege funds like DE Shaw, are all losing talent. i know a lot of people who work in those firms, and they have all moved out of NYC in the past year, for a variety of reasons. Also, the most innovative work being done in a hot field like technology or energy, is all taking place in the south and west coast. The center of power and wealth has been moving out of NYC for some time.

all the companies you names are headquartered in nyc. only people moving out are the ones who have been laid off

the people i'm referring to left because they don't feel that NYC is worth the cost and hassle. they found better deals.

Pequot and SAC expanded their NYC offices? This must have taken place before the mortgage crisis.

> Also, the most innovative work being done in a hot field like technology or energy, is all taking
> place in the south and west coast.

Which makes Chicago an excellent choice to move... why?

> Pequot and SAC expanded their NYC offices? This must have taken place before the mortgage crisis.

No, since...

evillager - so none of my income supports local businesses? Also my content encourages kids to read books, and play inisde and out. Keep trying.

"my profession is to make a superior risk-adjusted return for my clients" - is that completely as boring as it sounds? it must crush your soul to have to this kind of work every day.

peterfitz may be a difficult poster - but I don't see the value of mocking him as an entrepeneur. I think you can applaud him on that - not many people have the guts to do that (nevermind successfully). There are many reasons to argue with peterfitz, but on this one - no big deal really.

I'm not mocking anyone (actually, he is mocking me). But I don't buy into the fact starting a video game company is somehow morally superior to working in the financial industry, and I don't think that layoffs in ANY industry should be celebrated

just look at his comment above:

"faustus = wallstreeter = transaction processor = nothing more than a credit card machine = out of a job loser"

except when it is an educational game company and your job in the financial industry is souless and parasitic.

would you consider buying buildings and then jacking up tenants rent "souless and parasitic"? how about advocating trying to evict rent stabilized tenants as an investment strategy?

face it: you're not a doctor, you're not an artist, you're not a musician. you're a businessman, and are no different than the wall street guys that you decry

Ok - I agree with you on those last points. I didn't read the whole thread closely.

evillager - I am not a doctor though I do have several advanced degrees and I actually am an artist and musician. I am also incredibily different than the wall street guys i decry. Iam different from them in that I am talented in the arts, and use those talents to actually create content - paintings, software, animations. Even though those creations make money, it does not mean they are not art. I have numerous awards that testify my artisitic talents.

You take other peoples money, and put it into investments created by other people, based upon businesses created by other people, and the investment were even reccommended to you by other people. You create nothing, and just move peoples money around to things that you did not create. You also talk incorrectly about people you know nothing about. Do you invest peoples money into investments you know nothing about?

oh yeah evillager - sorry to be harsh on you but you attacked me first. There is nothing wrong with defending yourself, I dont let anyone take shots at me. You throw the first stone, I jsut shattered your house by calling you out on your attack on me.

you're a musician? cool! where/when does your band play?

used to play and played in your neighborhood a lot. played at Brownie's all the time - you probably dont even know what that is. Mercury lounge, luna, Tonic.......

Evillager - getting ready to jump? must suck to be in your position today.

No

But your lack of class is truly incredible. What kind of a person makes light of someone killing themselves?

You are a repugnant person

petrfitz has many good points and i agree with his premise that who are these "talented people" that may leave new york.

Luna? Your band must have been pretty bad. Did you open for the comedians?

http://en.wikipedia.org/wiki/Luna_Lounge

That you have to reference Wikipedia shows you really didn't get Luna Lounge.

It was free for a reason... noone would pay to see those bands.

The Strokes, Longwave, Ambulance LTD, Nada Surf, Ratatat, and stellastarr*, elliot smith

no one would pay to see those bands..........

And brownies? If you were playing Brownies while Luna was open, that was really bottom of the barrel.

You're talking about places you could get a gig without a demo...

But, if your musical talent was anything like your RE investment talent...

oh yeah i sat in on sessions at Luna with Sean Lennon, Thurston Moore, and many more.........

nyc10022 - you know nothing about the Rock scene if you say Luna was a perferred venue to Brownies.

no, not preferred, you are talking two of the shittiest venues out there. Six of one, half a dozen of the other.

And if you are telling me I know "nothing" about the rock scene (coming from the guy playing BROWNIES), then we'll just have to add that to the list of things you know absolutely nothing about - real estate, politics, investing, etc...

petrfitz, did you have a hand in the Sistine Chapel too? Not sure why you guys are wasting time with this guy anymore. FWIW, Luna Lounge is reopening in Williamsburg, which according to petrfitz is a terrible, terrible place.

So, let me get it straight, according to the Sun article all this "talent" that got used to the idea of gambling with other people's money on hair brained and shell game schemes, to the point of driving the country towards the economic brink, all this "talent" is now going to open up their own hedge funds outside of NYC b/c the gravy train of investment banks has come to a halt. Good luck to all this "talent". I'm sure that's exactly how it's going to work.

bjw - isnt williamsburg in Bushwick? and its not a terrible place if you are an outwork hipster looking to drink pabst blue ribbon.

Only if the LES is in Harlem. And still waiting for the paperwork on your rental in Nevada!

Hey!!! Don't knock the PBR.