NEW YORK JPMorgan spokesman Joe Evangelisti says the bank plans instead
to move employees to a Madison Avenue skyscraper that houses Bear
Stearns' offices. He says alternate uses would be considered. The
Wall Street Journal first reported the news Monday on its Web site.
The bank has a 90-year lease with the Port Authority of New York
and New Jersey for the spot where the former Deutsche Bank building
now stands. The firm had expected to build a new tower.
A Port Authority spokeswoman says that the bistate agency
believes JPMorgan's commitment to the World Trade Center is
unchanged.
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