Biggest Non-Energy Story Of The Week; GS With A Shot Across The Bow -- A Day That Will Live In Infamy -- December 7, 2020

I thought we had the biggest non-energy story on Sunday, yesterday. 

But this may be even bigger. Goldman Sachs --yes, that Goldman Sachs -- telegraphing that it may be moving a division to warmer climates. Link here.

Goldman Sachs is eyeing a move to Florida for one of its key divisions — in what could be yet another major blow to New York City’s position at the helm of the financial industry. 

The financial titan is considering relocating its $8 billion-revenue-generating asset management arm to Palm Beach County or Fort Lauderdale, checking out potential real estate, chatting up local officials and weighing the Sunshine State’s tax advantages. The potential development comes on the heels of several other investment companies moving from the Big Apple down South — and battering New York’s bottom line with the loss of white-collar jobs.

The link is to the New York Post but apparently Bloomberg broke the story. 

But Dallas, TX, is also in the mix!

Manhattan now has the most office space empty since right after 9/11, Bloomberg said.

As The Post reported in October, billionaire Paul Singer has decided to move the headquarters of his hedge fund Elliott Management from Manhattan to Florida, according to sources, while Carl Icahn also made the switch for his offices.

Florida offers tax advantages — not to mention warmer weather appreciated by at least some Manhattan-weary workers.

The COVID-19 pandemic has shown that more work can be done remotely than ever before, too, so there is less of a need for costly offices.

Still, no decision has been made by the Goldman Sachs Group Inc., which is considering Dallas, Texas, too, for its assets management division.