"Mamdani is destroying New York one departing business at a time." Comment to this post.
William Reports News "For 157 years, Goldman Sachs was synonymous with New York — a firm founded in 1869 by an immigrant trading commercial paper from his hatband on a Lower Manhattan street corner. In this breakdown, we examine the internal initiative, reportedly nicknamed "Project Voyage," through which Goldman has pressured senior managers, vice presidents, and managing directors to relocate to Dallas or leave the firm, even as an 800,000-square-foot campus rises in North Texas — set to become the bank's second-largest U.S. facility when it opens in 2028. We trace how a quiet regional outpost became a rival power center, and why Mayor Zohran Mamdani responded with public criticism followed by a private meeting with Goldman's CEO at City Hall.
"The deeper story is fiscal. Goldman's move is part of a wider pattern: JPMorgan has shifted thousands of positions from New York to Texas over the past decade, other major firms are expanding in low-tax states, and New York now ranks dead last in the Tax Foundation's state tax competitiveness rankings — all while Mamdani proposes higher taxes on corporations and the wealthy to close a budget gap of roughly $12 billion. At the center of this video sits a single overlooked statistic about how much of New York's tax revenue depends on one industry, and a budget projection that has already fallen short. This is not a story about billionaire grievances. It is structural math about who funds the city — and what happens when those people begin mapping out new addresses."
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