In the News: Transatlantic Cable Nexus

••• Fortune has a big charticle about “mapping the Internet,” but the charts are only online at designer Nicolas Rapp’s website. Here’s the part of the text that’s locally relevant: “When, in 1924, the Western Union Telegraph Co. went looking for land for a new headquarters in lower Manhattan, it had strict requirements: The building had to be close not only to the New York Stock Exchange and the commodities exchanges but also to the company’s existing operations center, with its fixed cable links to the hinterlands. By the end of 1930, messenger boys were keeping the revolving doors of 60 Hudson Street spinning all day, shuttling messages to the trading firms piled up downtown. Today’s financial services companies—especially those in the business of high-speed algorithmic trading—are faced with exactly the same requirements. They, too, have clustered around 60 Hudson Street [above], where the majority of transatlantic undersea cables land, in a similar effort: to hear the news of faraway markets first, if only by a matter of milliseconds. The result has been the creation of a parallel Wall Street geography, based not on the location of bustling trading floors but on proximity to the darkened buildings that house today’s automated trading platforms. The surrounding space is at a premium, as companies strive to literally shorten the wire that connects them to the hubs.”

••• A cyclist who got hit by a car at Church and Worth last year is “joining other New Yorkers to demand reforms to the way NYPD and its Accident Investigation Squad handle crashes—and she’s asking for people to take part in a day of online action on September 17.” The responding officer “refused to take her statement.” —Streetsblog

••• “The eleventh-annual Battery Park City block party will take over the Esplanade Plaza (just below North Cove Marina, near the volleyball courts) on Saturday, September 22, from 11:30 am to 4:30 pm. This year’s event will feature some of the perennial favorites for neighborhood kids (amusements like bouncy houses, arts and crafts, a bubble-gum blowing contest, and a visit from the Delta Dogs squad of therapeutic companion animals), as well as fun for the young at heart: a flea market, a cookie bake-off, and a karaoke contest.” —Broadsheet

••• “Loft at 27 N. Moore Street sells a tad low after public auction.” —Manhattan Loft Guy

••• “Kindergartners bounded out of the first day of classes at The Peck Slip School Thursday, as their parents voiced approval of the school so far. The much-needed school is starting with a fraction of its future student body—44 kindergarten students in two classes—inside temporary space in the Education Department’s Tweed Courthouse until construction of its new building is complete in 2015.” —DNAinfo

••• The New York Post visits the 255 Hudson apartment of “model mogul” Scott Lipps (and takes only one photo?).


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