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To: RON BL who wrote (180876)9/14/2001 2:47:05 AM
From: puborectalis  Read Replies (2) | Respond to of 769670
 
Grief at Cantor Fitzgerald, Relief at Morgan Stanley

Thursday, September 13, 2001


NEW YORK — While many firms located inside the World Trade Center's twin towers were able to locate their employees, tragedy struck bond trading powerhouse Cantor Fitzgerald after Tuesday's terrorist attacks unleashed chaos in the downtown financial district.

Cantor's offices, which held 1,000 employees, were on floors 101 and 103 through 105 in the center's 110-story north tower. In a tearful interview on ABC-TV, Cantor Fitzgerald Chief Executive Howard Lutnick said Thursday that he was unaware of anyone who escaped from their World Trade Center offices.

Lutnick said he wasn't in the office on Tuesday because he was bringing his son to his first day of kindergarten.

``My view of business is different,'' Lutnick said. ``I need to try to be successful in business so I can take care of ... 700 families who are dreaming to find someone,'' referring to the families of the employees feared dead.

Cantor Fitzgerald trades roughly one-fourth of the U.S. government bond market.

The news is in stark contrast to the relief felt at investment bank Morgan Stanley Dean Witter & Co., the World Trade Center's largest tenant with 3,700 employees.

Morgan Stanley said Thursday a remarkably high number of its staff escaped Tuesday's attacks.

Morgan Stanley, which occupied 25 floors in the complex, was only missing 15 employees, a high-ranking executive said Thursday evening. The firm had earlier said between 30 and 40 workers were unaccounted for.

``The loss of just a single life is too many,'' Chief Executive Philip Purcell said in a statement. ``But when you consider the incredible destruction that occurred, the loss of fewer than 40 of our people out of the 3,700 who worked there is a near miracle.''

Morgan Stanley's operations previously located at the World Trade Center will be moved to other sites in Manhattan and facilities in New Jersey and Brooklyn. Morgan Stanley will be open for business when U.S. markets resume trading, Purcell said.

Workers at Morgan Stanley's Discover credit card unit call centers fielded calls from people looking for or offering information on the firm's employees, it said.

Reuters and the Associated Press contributed to this report.