daily menu » rate the banner | guess the city | one on oneforums map | privacy policy | DMCA | news magazine | posting guidelines

Go Back   SkyscraperCity > World Development News Forums > General Urban Developments > DN Archives



Global Announcement

As a general reminder, please respect others and respect copyrights. Go here to familiarize yourself with our posting policy.


Reply

 
Thread Tools
Old March 20th, 2007, 05:12 AM   #421
TalB
Refugee
 
TalB's Avatar
 
Join Date: Jun 2005
Location: Pleasantville, NY
Posts: 7,536
Likes (Received): 78

http://www.downtownexpress.com/de_20...rtworkers.html
Volume 19 Issue 44 | March 16 - 22, 2007

Silverstein, Port, workers guarantee insurance fight

By Josh Rogers


Developer Larry Silverstein spoke to a rally of construction workers in Midtown Monday. They called for two insurance companies to pay Silverstein $800 million he needs to rebuild the World Trade Center.

About 300 construction workers rallied Monday with World Trade Center developer Larry Silverstein and the Port Authority against two holdout insurance companies whom they say owe $800 million to rebuild ground zero.

“Pay up now,” the workers chanted outside the Hilton New York in Midtown as the National Association of Insurance Commissioners met inside. Truckers driving by honked their horns in support.

Silverstein and the Port, which owns the site, have reached agreements with many of their insurers. Most of the speakers at the rally pointed out that the two worst holdouts are foreign-based firms — Allianz of Germany and Royal & Sun Alliance of England. U.S. Rep. Anthony Wiener, a 2005 mayoral candidate who’s expected to run again in 2009, called for a state investigation into the insurance firms at the rally, organized by the Building & Construction Trades Council of Greater New York.

Silverstein told the crowd that the C.E.O.’s of both firms were co-signers of ads in 2001 saying: “Insurance will be a foundation upon which we will recover and rebuild. You can depend upon us to facilitate claims …with compassion and to meet our responsibilities.”

The firms also promised to “fulfill the hopes and prayers of those who have been taken from us.”

“Where I come from in New York City, we call that chutzpah,” Silverstein said to cheers. He said whether it’s small business owners in Lower Manhattan, or Hurricane Katrina victims in New Orleans and Mississippi, insurance companies always delay making payments as long as they can.

He said the firms are collecting 9 percent interest on the $800 million. “The float amounts to a huge amount of money,” he told reporters.

Allianz released a “fact sheet” challenging many of the claims of Silverstein and the Port. One apparent area of agreement between the Port and Allianz, though, is that the firm is not required to make any payments now.

The Port’s counsel testified at an Assembly hearing last year that the insurance payments to rebuild were voluntary. Anthony Shorris, the Port’s new executive director, said on Monday that the firms should “do the right thing,” the precise phrase Kenneth Ringler, his predecessor, used last year.

Allianz claims its obligation to pay will begin when all five W.T.C. towers are built. Construction on the Freedom Tower is underway but the Port has not yet prepared three Church St. sites for construction and there is no design yet for the fifth site on Liberty St., where someday a bus garage and tower are expected to replace the damaged former Deutsche Bank building still overlooking the site.

When 16 insurance companies were threatening to stop payments last year, Silverstein said construction could stop in a month if they followed through with the threat. He did not say Monday whether it was a matter of months or years before W.T.C. construction would halt if he did not get the $800 million from Allianz and Royal.

He has received just over half the $4.6 billion he has won from the insurance companies and $3.3 billion in tax-free Liberty Bonds have been dedicated to the W.T.C.

The Port and Silverstein will divide the insurance money under an agreement reached last fall, whereby the Port got the development rights to the Freedom Tower and Tower 5 on Liberty St. Allianz and Royal contend the new agreement changes their obligations.

Silverstein originally sought $7 billion in insurance payments based on the legal theory that the plane attacks on the Twin Towers represented two separate occurrences. He won that argument on 10 of his 26 polices, including three owned by Allianz and Royal or their affiliates.

Royal recently sold off its American subsidiary, now called Arrowpoint Capital. Silverstein and the Port are challenging the sale and filed a lawsuit last month. Arrowpoint and Royal did not respond to a request for comment.

Relations with other firms, however, are going better. Silverstein announced an agreement Wednesday with TIG insurance, which will pay him and the Port $12.535 million. The firm, which lost on the two-occurrence question, had already paid Silverstein $9.1 million and agreed to pay the second $9.1 million and 90 percent of the interest Silverstein claimed.

With reporting by Brooke Edwards
__________________
I respected your views, so I expect you do to the same.

Highcliff liked this post
TalB no está en línea   Reply With Quote

Sponsored Links
Old March 20th, 2007, 09:48 PM   #422
MetalliTooL
Registered User
 
Join Date: Apr 2006
Location: NJ
Posts: 467
Likes (Received): 20

Don't know if this has been answered before, but in Wikipedia it says "82 Floors (26 Floors not occupied , ending in total of 108 Floors)." Why are they wasting 26 floors?

EDIT: Nevermind. Should've read the rest of the article. Either way, it seems kinda silly to shove all the mechanical floors up there.
__________________

Highcliff liked this post

Last edited by MetalliTooL; March 20th, 2007 at 10:03 PM.
MetalliTooL no está en línea   Reply With Quote
Old March 20th, 2007, 10:23 PM   #423
[Jmlr]
Neogreatness
 
[Jmlr]'s Avatar
 
Join Date: Aug 2006
Location: Mérida, Venezuela
Posts: 809
Likes (Received): 3

i lik the complex, just beautiful
__________________
PLATA! CONSUMISMO! O MUERTE!!!

NEOGREATNESS

VENEZOLANO POR NATURALEZA

Highcliff liked this post
[Jmlr] no está en línea   Reply With Quote
Old March 20th, 2007, 10:55 PM   #424
Spooky873
BANNED
 
Join Date: Mar 2005
Posts: 1,385
Likes (Received): 64

Quote:
Originally Posted by MetalliTooL View Post
Don't know if this has been answered before, but in Wikipedia it says "82 Floors (26 Floors not occupied , ending in total of 108 Floors)." Why are they wasting 26 floors?

EDIT: Nevermind. Should've read the rest of the article. Either way, it seems kinda silly to shove all the mechanical floors up there.
yeah, this is for EVERYONE to know since most dont, but they dont start counting floors until about 200 feet up over the base. technically 1WTC is in fact 108 floors.
__________________

Highcliff liked this post
Spooky873 no está en línea   Reply With Quote
Old March 20th, 2007, 11:07 PM   #425
nykid17
Registered User
 
nykid17's Avatar
 
Join Date: Mar 2007
Location: New York
Posts: 54
Likes (Received): 3

Does ne1 know, are they definatelygoing to build the other surrounding towers, or are they still in the proposal stage?
__________________

Highcliff liked this post
nykid17 no está en línea   Reply With Quote
Old March 20th, 2007, 11:26 PM   #426
MetalliTooL
Registered User
 
Join Date: Apr 2006
Location: NJ
Posts: 467
Likes (Received): 20

Quote:
Originally Posted by Spooky873 View Post
yeah, this is for EVERYONE to know since most dont, but they dont start counting floors until about 200 feet up over the base. technically 1WTC is in fact 108 floors.
The floors that they're not counting are on the top of the tower not the bottom.
__________________

Highcliff liked this post
MetalliTooL no está en línea   Reply With Quote
Old March 21st, 2007, 12:48 AM   #427
EnDleSsWaLtZ
Registered User
 
EnDleSsWaLtZ's Avatar
 
Join Date: Feb 2007
Location: Chicago, La Grange IL
Posts: 457
Likes (Received): 22

::sigh:: what a mess...
__________________

Highcliff liked this post
EnDleSsWaLtZ no está en línea   Reply With Quote
Old March 21st, 2007, 01:01 AM   #428
TalB
Refugee
 
TalB's Avatar
 
Join Date: Jun 2005
Location: Pleasantville, NY
Posts: 7,536
Likes (Received): 78

Quote:
Originally Posted by MetalliTooL View Post
Don't know if this has been answered before, but in Wikipedia it says "82 Floors (26 Floors not occupied , ending in total of 108 Floors)." Why are they wasting 26 floors?

EDIT: Nevermind. Should've read the rest of the article. Either way, it seems kinda silly to shove all the mechanical floors up there.
That was done to pretty much have office space below the same height as the Twins were.
__________________
I respected your views, so I expect you do to the same.
TalB no está en línea   Reply With Quote
Old March 21st, 2007, 01:18 AM   #429
rogerick1970
BANNED
 
Join Date: Feb 2007
Posts: 208
Likes (Received): 62

So what exactly is the latest with the freedom tower as of today, and how much longer will it be before they erect the tower cranes? This is begginging to be ridiculous
rogerick1970 no está en línea   Reply With Quote
Old March 21st, 2007, 07:43 PM   #430
CrazyAboutCities
Registered User
 
CrazyAboutCities's Avatar
 
Join Date: Feb 2007
Location: Seattle, Washington
Posts: 8,549
Likes (Received): 240

Agreed! I think they should shut the bleep up and start the construction right away! Talk is cheap, take the action!
__________________

Highcliff liked this post
CrazyAboutCities no está en línea   Reply With Quote
Old March 21st, 2007, 07:59 PM   #431
ZZ-II
I love Skyscrapers
 
ZZ-II's Avatar
 
Join Date: May 2006
Location: Near Ingolstadt in Bavaria
Posts: 33,528
Likes (Received): 6556

i've the feeling the new WTC never be build
__________________
Click here to get the Worlds Supertall Lists

Highcliff liked this post
ZZ-II no está en línea   Reply With Quote
Old March 21st, 2007, 08:33 PM   #432
Rizzato
Blue Collar
 
Rizzato's Avatar
 
Join Date: Dec 2006
Location: Boston
Posts: 899
Likes (Received): 49

theyre waiting til we've killed all the future terrorists in Iraq..
then they'll be certain that this building will be safe.


no seriously, its probably that theyre developing the other 3 buildings, to make them rise together? seems odd that theyre taking their time.
__________________

Highcliff liked this post
Rizzato no está en línea   Reply With Quote
Old March 21st, 2007, 08:53 PM   #433
CrazyAboutCities
Registered User
 
CrazyAboutCities's Avatar
 
Join Date: Feb 2007
Location: Seattle, Washington
Posts: 8,549
Likes (Received): 240

Well think about it... The cost of construction is on the rise... If they wait... They will have spend more... I think they should go ahead get it started before it become too expensive.
__________________

Highcliff liked this post
CrazyAboutCities no está en línea   Reply With Quote
Old March 21st, 2007, 09:29 PM   #434
FlyFish
Registered User
 
Join Date: Feb 2007
Posts: 352
Likes (Received): 83

I agree with the post above, I will be shocked if and when this thing ever gets built.
__________________

Highcliff liked this post
FlyFish no está en línea   Reply With Quote
Old March 21st, 2007, 09:32 PM   #435
Herr Lind
BANNED
 
Join Date: Dec 2006
Location: Default City
Posts: 3,299
Likes (Received): 352

Freedom Tower - rulez! I love NY =)
Herr Lind no está en línea   Reply With Quote
Old March 21st, 2007, 11:13 PM   #436
Sentinel
Centinela
 
Sentinel's Avatar
 
Join Date: Mar 2006
Posts: 9,957
Likes (Received): 11659

Each day I'm getting more a more disappointed with the project, not because of the shape of the building, but about its slow starting... There is always so many external problems around... The fact is that the construction has no rhythm
__________________

Highcliff liked this post
Sentinel no está en línea   Reply With Quote
Old March 21st, 2007, 11:20 PM   #437
ZZ-II
I love Skyscrapers
 
ZZ-II's Avatar
 
Join Date: May 2006
Location: Near Ingolstadt in Bavaria
Posts: 33,528
Likes (Received): 6556

and we can't see the progress because we've no webcam and no update's
__________________
Click here to get the Worlds Supertall Lists

Highcliff liked this post
ZZ-II no está en línea   Reply With Quote
Old March 21st, 2007, 11:24 PM   #438
rogerick1970
BANNED
 
Join Date: Feb 2007
Posts: 208
Likes (Received): 62

Exactly!!! And that makes me wonder, is this building still under construction? And How much longer till we see the cranes erected, becuase this is getting absolutely ridiculous!!
rogerick1970 no está en línea   Reply With Quote
Old March 22nd, 2007, 12:04 AM   #439
Northern Lotus
Registered User
 
Join Date: Jul 2006
Location: Vancouver
Posts: 442
Likes (Received): 37

Too bad it will not be built as designed by the winning team by Lieberskind.
Now, the design of the complex looks rather mediocre, lacks cohesivness.
Too much politics killed it.
__________________

Highcliff liked this post
Northern Lotus no está en línea   Reply With Quote
Old March 22nd, 2007, 12:22 AM   #440
Ebola
BANNED
 
Join Date: Mar 2006
Location: New York City
Posts: 1,658
Likes (Received): 94

^Please.








BRIAN LYONS (construction manager): http://wtc.com/video/21_brian_lyons.wmv
Norman Foster (Tower 2 architect): http://wtc.com/video/22_foster_interview.wmv
FRANK HUSSEY (construction worker): http://wtc.com/video/23_frank_hussey.wmv
Richard Rogers (Tower 3 architect): http://wtc.com/video/26_rogers-interview.wmv
David (7WTC architect): http://wtc.com/video/28_david_childs.wmv
ENVIRONMENTAL STANDARDS: http://wtc.com/video/29_environ-standards_event.wmv

These videos were made many months ago and were just released.
__________________

Highcliff liked this post
Ebola no está en línea   Reply With Quote


Reply

Tags
construction updates, development, ground zero, manhattan, new york city, nyc, port authority, supertall, world trade center

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Related topics on SkyscraperCity


All times are GMT +2. The time now is 08:41 AM.


Powered by vBulletin® Version 3.8.11 Beta 4
Copyright ©2000 - 2018, vBulletin Solutions Inc.
Feedback Buttons provided by Advanced Post Thanks / Like (Pro) - vBulletin Mods & Addons Copyright © 2018 DragonByte Technologies Ltd.

vBulletin Optimisation provided by vB Optimise (Pro) - vBulletin Mods & Addons Copyright © 2018 DragonByte Technologies Ltd.

SkyscraperCity ☆ In Urbanity We trust ☆ about us | privacy policy | DMCA policy

tech management by Sysprosium