Latest / Sid & Friends In The Morning / Bruce Mosler | 05-25-26

Transcript

Bruce Mosler | 05-25-26 · Sid & Friends In The Morning

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  Speaker 1: zero hub at Electricarland Dot. I just Sid.
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  Speaker 2: And friends in the morning, entertaining and informative on the
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  Speaker 2: Red Apple podcast Networks.
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  Speaker 3: Will us today is Bruce Mosler and Kushman and Wakefield,
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  Speaker 3: chairman of Global Renting. I guess in commercial properties, Well, Bruce,
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  Speaker 3: give us your pulse. Is nobody better in the commercial
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  Speaker 3: market than you are. Give us a and you handle
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  Speaker 3: all the big companies. Give us your poults of New York, Florida.
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  Speaker 3: Whatever you want to tell us. And what I'm afraid of.
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  Speaker 3: We both me and you both love New York. What
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  Speaker 3: I'm afraid of is we're losing companies in retail, et cetera,
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  Speaker 3: et cetera.
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  Speaker 4: Well, John, good morning. First of all, on this very
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  Speaker 4: important day, Memorial Day. I'll come back to that. But
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  Speaker 4: to answer your question, year to date, Manhattan has had
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  Speaker 4: about sixteen point two million square feet of leasing. That's
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  Speaker 4: about twelve percent up over last year, which was the
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  Speaker 4: biggest year we've had in decades, thirty nine million feet
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  Speaker 4: of renewal and new leasing. That said, John, for me,
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  Speaker 4: the concern is that we need to be careful in
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  Speaker 4: terms of how much we push the envelope in terms
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  Speaker 4: of taxing corporates, taxing individuals. The city is an expensive
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  Speaker 4: city to do business. And yet with all of that said,
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  Speaker 4: we canntinue to chug along because there's no other city
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  Speaker 4: in the world that has the talent pool, the labor
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  Speaker 4: skills that New York has. And that is no offense
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  Speaker 4: to other cities. But the bottom line is, if you're
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  Speaker 4: going to scale a business in tech or finance or
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  Speaker 4: AI today, New York City is the place you want
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  Speaker 4: to be. But let's face it, there's a breaking point,
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  Speaker 4: and so we must be careful. You're here to understand
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  Speaker 4: that business is his friend. If he wants to accomplish
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  Speaker 4: his own objectives of trying to build affordable housing at scale,
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  Speaker 4: then it's a partnership, a public private partnership that is needed.
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  Speaker 3: In you know, and I've heard what happened with Ken
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  Speaker 3: Griffin this month and I and I've heard Jamie the Diamond,
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  Speaker 3: you know, the JP work and chairman, and they're very upset.
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  Speaker 3: They're both very upset. And Jamie, I've just finished building
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  Speaker 3: a four billion dollar building in New York, a three
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  Speaker 3: and a half whatever it was. But he's got more
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  Speaker 3: employees and in Texas and he has in New York.
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  Speaker 3: And the fact is that he's also building in Tampa.
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  Speaker 3: I understand, John.
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  Speaker 4: I'm gonna say what I said earlier and remind all
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  Speaker 4: of us that JP Morgan others has had had a
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  Speaker 4: large number of employees in other cities. As Jamie said
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  Speaker 4: very candidly, he has a number of employees in Texas.
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  Speaker 4: But it is everyone's preference as a CEO, in my opinion,
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  Speaker 4: to continue to scale their business in New York. And
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  Speaker 4: to do that, we have to have an understanding that
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  Speaker 4: business is important to this city, not only the businesses,
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  Speaker 4: but the leader of these businesses. The intellectual capital that
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  Speaker 4: resides in New York City is unique and it's special
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  Speaker 4: and we need to covet it and embrace it. And
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  Speaker 4: if I may say just one other thing, John, on
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  Speaker 4: this day, because I know how patriotic you are. This
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  Speaker 4: is the day, Memorial Day, that we remember all those
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  Speaker 4: service men and women in uniform that have made the
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  Speaker 4: ultimate sacrifice in defense of our nation's freedoms. It is
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  Speaker 4: a very stark reminder that the price of freedom is
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  Speaker 4: not for free, and we owe a huge debta gratitude
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  Speaker 4: to the half of the one percent that one our
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  Speaker 4: nation asks who shall we send and who will go
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  Speaker 4: for us? It's always these extraordinary men and women who
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  Speaker 4: raise their hand to protect this nation's freedoms.
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  Speaker 3: Bruce Mosler, I believe you, and you are one hundred
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  Speaker 3: percent right, and you were at that breakfast with us,
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  Speaker 3: with Bruce Blakeman on last Saturday morning, and we all
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  Speaker 3: believe in in New York. We all believe in America.
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  Speaker 3: We all believe in protecting America. And thank you for
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  Speaker 3: everything you do for for the military, the police, you're
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  Speaker 3: coach chairman of the Intrepid Museum, and thank you for
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  Speaker 3: everything you do for America.
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  Speaker 4: Don The feeling is mutual. We are grateful for all
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  Speaker 4: that you do and your family does. Margo and John
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  Speaker 4: Junior and Andre and the whole, the whole family, the
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  Speaker 4: whole Katsamatitis family, for everything that you do for this nation,
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  Speaker 4: this country, and this city.
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  Speaker 3: Well, thank you and let's catch up again real soon,
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  Speaker 3: and God bless America.
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  Speaker 2: Thanks for listening to Sit and Friends in the Morning.
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• 6:03
  Speaker 2: time for a new episode so you never have to
• 6:06
  Speaker 2: wonder what the heck is going on here.