1
by Readers of The Bond Buyer may have noticed a few changes in the look of, our pages since the Sept. 11 attacks on the World Trade Center and the, Pentagon., The changes -- the omission of boldface highlighting in our text, along, with the consolidation into one page of our standard, two-page regional, sections -- are temporary., They are the result of the ongoing disruption of some phone and data, transmission services in lower Manhattan, where The Bond Buyer editorial, office is located. Because of these problems, in an effort to ensure that we are able to continue producing the paper each day, our art department continues to work from the production plant in New Jersey where the paper is printed. We have suspended the features I mentioned in an effort to simplify the process somewhat., As soon as these remaining obstacles are eliminated, The Bond Buyer, will return to looking like the paper to which you have grown accustomed., But in some ways, The Bond Buyer, its staff, and the municipal, community will never again be as it was on Sept. 10., For me and the members of the editorial, advertising, and support, staffs who were in our offices when the horrific events of Sept. 11, unfolded, the experiences -- like those of so many New Yorkers -- were, terrifying and unforgettable., Before truly knowing the scope of the attacks, reporters and editors, here and in our Washington bureau began reaching out to municipal market, firms in and around the World Trade Center, trying to determine who might, be affected., Until just after 10 a.m., six Bond Buyer reporters and editors, along, with numerous others from both our paper and our sister publication, American Banker, were here on the 26th floor working. In my case, I was trying to coordinate with our editors and reporters elsewhere in the country about how we would publish a paper that day., It was not until after the collapse of the first of the Twin Towers at, 9:50 a.m. that we decided that we had to leave. After almost two hours in the lobby and basement of this building, and calls to editors across the country, we determined that it was probably not possible to put out a paper for Sept. 12 and decided to begin walking toward home., Along the route, dust, and smoke choked the air and thousands of, shocked people walked out of lower Manhattan. We stopped along the way to gaze in horror at the empty space in the skyline where the Twin Towers had stood only that morning. We walked, directed by an army of uniformed and plain-clothed city officials, first north and east toward the Manhattan Bridge and then north., All the while, Bond Buyer reporters working at home and in offices, across the country began the process of piecing together what had happened, who was missing, and what it might mean for the municipal market., Thanks to the tremendous efforts of the entire editorial staff --, especially art director Yamuna Ramachandran, copy chief Mark Sanborne, editors Gary Larkin, Gavin Murphy, Lynn Hume, and Sean Monsarrart, bureau, chiefs Elizabeth Albanese, Craig Ferris, Michael McDonald, Yvette Shields, Shelly Sigo, and Rochelle Williams, and the technical and operations, departments -- The Bond Buyer published eight pages on Sept. 13, and has, not missed a day since., With many on the paper's New York staff working at first from home and, later from temporary space, we have been able to inform the municipal, market of its losses, its triumphs, and the challenges that lie ahead in, the wake of the physical devastation, emotional trauma, and economic, disruption of the attacks., The close-knit municipal bond community is mourning those lost at, Cantor Fitzgerald, Keefe Bruyette, & Woods, Sandler O'Neill, the Port, Authority of New York and New Jersey, and others., But we are still in business. Issuers have sold almost $22.4 billion in bonds since Sept. 15, bringing to market some $12.3 billion since the first of this month alone and pushing the total issuance in 2001 to more than $206 billion so far, well above the $151 billion level at this time last year., Investors from across the country stepped up and placed many times more, orders than could be filled for the $1 billion in New York City's first, recovery notes sold to date., Bonds have been sold for schools, roads, hospitals, and all the things, for which bonds have always been sold., Cities, states, and the federal government are striving to address the, This is a time when the market will be called on to help governments, As it has for more than 100 years, The Bond Buyer will continue to, cover the news on the issues in the market -- those stemming from the, attacks and those that have nothing to do with this national crisis., As always, I invite our readers to contribute their thoughts on the, questions and conversations in the market to this page. I look forward to hearing from you., at&gt, tfn.com.
Published in Bond Buyer (2001)
Get additional information online
E-Article