Mort Turns Bearish on Citigroup
A few weeks ago, Mort Zuckerman was doing his darndest to prop up an ailing Citigroup. The real estate kingpin (and Daily News owner) may have taken time out of his schedule to appear on MSNBC four times in one day because he was worried about the impact a Citi bankruptcy would have on the global financial markets—or it may have had something to do with the fact that the bank has long been one of his largest tenants. (You decide!) Whatever it was, though, it appears his mood has shifted. Zuckerman's Boston Properties announced that it now plans to strip the bank's name from the Citigroup Center on Lexington Avenue early next year. "We're tired of the fact that every time Citibank has a problem all of the TV cameras come and photograph the Citigroup Center sign on the front of our building," a Zuckerman lieutenant told a reporter today. The exec didn't indicate what the new name of the building would be—and it's doubtful any company in its right mind would shell out millions for naming rights given the current state of the economy—but if you have any clever suggestions, send them along. We'll pass them along to Mort tout de suite!