News
RUPERT MEETS REBNY
March 3, 2010
| Media magnate Rupert Murdoch packed the Sheraton Metropolitan yesterday, headlining REBNY’s member luncheon to discuss three forces that intersect in NYC: paper, properties, and politics. | |
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| In FY10, property tax revenues accounted for half of New York City’s $35B revenue, he said, but a new challenge has emerged, agreeing with Mayor Mike and Governor Paterson that we’re living beyond our means. NY will always be expensive, but he urged the audience to use their influence to reduce wasteful spending. After giving a vocal thumbs-up to media competitor Mort Zuckerman’s potential Senate bid (a race Mort announced yesterday he would not join), he said we have to realize who owns Albany, the state employees’ unions—and until business raises more funds, that won’t be turned around. | |
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| Of course, there were mentions of Murdoch’s News Corp-owned NY Post and Wall Street Journal, the latter of which he confirmed will have a new New York section starting in April, taking on new editors and expanding its offerings. He also discussed how technology like the iPad is affecting newspapers, and says to expect a big revolution over the next 12-18 months. Business is not the same as three years ago, but it’s better than a year ago, he noted. Overall, NYC will continue with slow growth over a long period of time, but we will prosper. | |
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| REBNY also announced its Most Promising Commercial Salesperson of the Year, which recognizes a REBNY member with less than five years’ experience. This year, it was presented to Cushman & Wakefield’s Clark Finney (here with Studley’s Bill Montana, who chairs REBNY’s commercial board of directors). |
