Living and working in the New York region’s financial-media complex in 2009 means daily, compulsory attendance at a gathering of the glum. The economy may be shrinking at a 6 percent annual rate, but finance and media have contracted by about 30 percent. For the past year, the daily routine has meant sitting in a depopulated office (assuming you still have a job); following the latest grim news of magazine closings, buyouts, and layoffs; and commiserating with friends, family, and neighbors. And, of course, the angst extends far beyond directly affected companies. Finance dominates the area’s economy to such a degree that everybodyâ??lawyers, accountants, real estate brokers, waiters, retailers, and cab driversâ??have all been affected.
Office of Strategic Communication