New York Faces Lingering Shock From Crash of 87
New York’s economy is seen slipping into a recession as the Dow’s 508 point drop reverberates through Wall Street and city industries. Real estate, advertising, and dining are warned of job losses, rent declines, and business closings while banks and brokerages trim costs and consider relocations.
MENTIONED IN THIS ARTICLE
Wall Street
Upper East Side
New York
Dow
Samuel Ehrenhalt
U.S. Bureau of Labor Statistics
John White
Landauer Associates
Shearson Lehman
E.F. Hutton
Hutton
West 52Nd Street
ABC
J.C. Penney
Mobil
Donald Trump
Edward Koch
Tribeca
SoHo
Greenwich Village
Financial District
New York City
Fred Sampson
The
New York Stock Exchange
Perrin Long
Lipper Analytical Securities
Wall Street Crash Impacts New York Economy and Ads
The week features Black Monday fallout with NYSE hours cut and stock losses. Analysts warn retailers face tougher year as layoffs loom and private schools fear enrollment drops while networks expect advertising gains tied to elections and the Olympics.
Museums cash in on gift shop boom across top institutions
The Met led with 52.9 million in retail sales last year, followed by the Smithsonian at 44 million. Museums expand shops under professional management to boost revenue amid shrinking public funds. Environment groups Greenpeace and Sierra Club also run profitable stores, drawing scrutiny from tax authorities.
MENTIONED IN THIS ARTICLE
New York
Metropolitan Museum of Art
Smithsonian Institution
Bloomingdale’s
Washington
Met
Mary’s
mid-Manhattan
Kurt Freichtmeir
San Francisco
Smithsonian
John Giesecke
Neiman-Marcus
Samuel Greenberg
Filene’s
Zayre Corp
Museum Store Association
Beverly Barsock
Denver Organiza
Greenpeace USA
Santa Cruz
Calif
Key West
Fla
Provincetown
Mass
Greenpeace
Lauren Preziose
Sierra Club
Environmental Group
Internal Revenue Service
Also Mentioned on This Page
New Jersey
Trump
Salomon Brothers Inc
Mortimer Zuckerman
Helms- Twan
Boston Properties
Albuquerque
East 27Th Street
Long
Merrill Lynch & Co
Kidder Peabody & Co
L.F. Rothschild
Anaas Brokerages
Treasury
Baker
Jemnes
Geen
U.S
Aes Ood
NYSE
Sao
Ca P.m. Stock Exchange
Toe
Am P.m
Tokyo
WySk
Copia
Cen
Siesta Ora
Merrill Lynch Ws
London Stocks
Reagen
SEC
Ruder
Lagor
Irwin Kellner
Manufacturers
Hanover
Oleg Cassini
Cassini
Gardner Dunnan
Dalton School
East 91St Street
Madison
NBC
CBS
Peter Falco
Merrill Lynch
Bob Coens
McCann-Erickson
Coen
Securities and Commission
Pacific Stock Exchange
Reagan Teconomty i
Dow Jones
Congress
Tion
Leonard Levit
Smithsonian Magazine
Greenberg
Business News
C.D. Fdic
Buffalo
Goldome
FDIC
Hails
Elyria
Perkins
Columbus
Sandusky
Cooper-Fouer
Hills Avenue
Amber
Oderdida
Aston Floor Care
Nord Vocational Ie Inc
Lorain Co
Eyria
East Yeeya
Cellular Cellular One
Lorain County
Opiden
North Ridgeville, O
Ginnie Maes
Ctare
Seaware
McDonald & Company Securities, Inc
Lorain County Bank
Middle Avenue
Ohio
Parma Mrmried
Aera
Memnter
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