Who would do business in New York?

“Every investor is very worried, because where is the victim? Who lost money? This is an arbitrary decision a judge made, this policy, what does this say about the bar, the legal bar in New York? Aren’t they going to question this judge? What is this? $355 million as a penalty and plus interest at 9% and no victim?”

“Forget about Trump, this is not a Trump situation, this is a New York problem now,” he told FBN’s Neil Cavuto on Monday. “The whole world is looking at this, saying what are you doing to yourselves?”
O'Leary: "Shocked" At "Arbitrary" Trump Fraud Decision, "I Would Never Invest In New York Now" | Video | RealClearPolitics

Governor Hochul has said that businesses need not worry since they are not Trump:

“Law-abiding and rule-following New Yorkers who are businesspeople have nothing to worry about because they’re very different than Donald Trump and his behavior.”
New York governor seeks to quell business owners’ fears after Trump ruling | Donald Trump | The Guardian

Businesses were already fleeing the high taxes, high crime, and high prices in New York that are a result years of Democrat mismanagement.

As the governor tacitly admits, Trump is being punished for his political views and his performance in the polls in his run for president. They are coming for Trump now. Next will be anyone who donates to wrong candidates, speaks out against government policies, or is just an inviting target for a government strapped for cash.

Who would do business in New York as it embraces its status as banana republic?


New Business applications are up with Brooklyn leading the way.

We will be fine.


High taxes were previously encouraging businesses to leave.

Now the weaponization of the judiciary is adding a turbo-boost to the decision-making for that.

And speaking of weapons, Remington is leaving NY and moving to Georgia because of New York’s gun laws.


Yes, the number of shell companies may well increase as assets leave the state.

COVID lockdowns showed that remote work is practical and has created an “office building apocalypse” in New York City.

Lending pressures will be exacerbated by the fact that office buildings have become less profitable since the pandemic. Persistent work-from-home trends have pushed office vacancy rates to their highest levels ever, according to the National Association of Realtors. New York City alone has around 100 million square feet of empty office space, Knakal estimated.
Office Building Apocalypse to See Wave of Demolished, Converted Properties

The destruction of the credibility of the legal system is accelerating the existing trends.


Who would do business in NY?

Nobody in their right mind!


Brooklyn, you don’t say? I’ve been to Brooklyn a lot in my youth, but the only way I ever step foot in there again is if I’m kidnapped. An absolute dump!! Brooklyn, Queens, and the Bronx. That’s the toilet bowl of NYC.


in 2023 alone, a record-breaking 192 leases were signed for spaces at over $100 per square foot, spanning 5.6 million square feet.

Mmmmm existing trends

This decision as bad as it was, changes nothing.

That said, NYC is a rotten place to do business unless . . .
unless you are rich enough to own a business or partnership.

Rich guy who can own a string of small businesses? Sure it’s fine.
Teacher, plumber, cop etc. who cannot afford that, and are limited to investing in a corporation? Well, better hope the corporation stays away from NYC.

(was just discussing this on another thread)

"In addition to the 8.5% sales tax on almost everything it sells, and paying property taxes (among the highest in the developed world), the corporation then faces

an average 25.81% US corporate tax (from above)
plus a 6.5% state corporate tax,
plus NYC local corporate tax typically 8.85%"

Amazing. This is based on what?

What corporations pays nyc property taxes unless they are land lords?

New York has high taxes. It also has one of the biggest markets for small businesses.

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Guys and gals. You don’t have to do business in this state or this city. New York City will be just one. The office rent market will recover or get converted to some extent. The city and the state will be fine

Yes, 5.6 million square feet of new leases in a market with 100 million square feet of vacant space would be quite pitiful.

Do you have a source for your number? It does not appear in the link I provided. Does it even apply to New York City office space?

Of course i do


That’s monthly.

The issue isn’t who won’t do business in New York, the issue is and will be for the foreseeable future - remote work

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New York City required a federal bailout in the 1970s. It looks like they are heading for a repeat.


NYC mayor puts $12 billion cost on migrant crisis, blames 'broken' national immigration system - POLITICO

It’s not the 1970s no matter how badly you want to make comparisons with something that happened 50 years ago.

He is angling for that sweet sweet federal money.

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Who would do business in NY? Up until last week, Trump would.


If New York applies the Trump precedent and throws the book at every real estate company that has ever provided an optimistic estimate of the value of a property, they could shut down virtually every one of them.

Of course, if the Trump prosecution is just a hit job to silence a political opponent, then state officials should be prosecuted under federal law for “conspiracy against rights”:

If two or more persons conspire to injure, oppress, threaten, or intimidate any person in any State, Territory, Commonwealth, Possession, or District in the free exercise or enjoyment of any right or privilege secured to him by the Constitution or laws of the United States, or because of his having so exercised the same . . .They shall be fined under this title or imprisoned not more than ten years . . .

Which is it?

per capita GDP is doing quite well in the Metro area.


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Had a high per capital GDP since any figures are retrospective.

New York City has one of the highest cost of livings in the world, and GDP is based on market prices. A burger in Manhattan may cost two or three times what the same burger would cost in a small town.

The high GDP figures include a lot of smoke and mirrors.