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Recession in Manhattan, are you sure?

Nov 21, 2008 | 0 comments

Mercedes–Benz just announced that they are going ahead with plans to invest over $220 million in a new flagship dealership and showroom on Manhattan’s west side. It is scheduled to be operational by 2011 and will replace its current show room on Park Avenue.

With everything that’s happening in our economy one would think that this is not quite the right time for such an investment in luxury ticket items like cars but Donna Boland, a Mercedes-Benz spokesman disagrees in this NY Times Article.


(rendering of the new showroom from the NY Times Article)

On the other hand, Citigroup announced slashing another 53,000 jobs which may impact their New York City work force dramatically. Another sign of ailing economy in the city are retail discounts on Fifth Avenue, which in the past was immune to being on sale. Even some luxury items are being slashed in price and some stores that never needed incentives are offering cash cards if you spend certain amount.

Recession or not, judge for yourself.

Posted By: Senad Ahmetovic

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