The Bank of New York Mellon Corporation Arena?

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So the big story today here in the Burgh: Mellon Financial Corp. (remember it quit being Mellon Bank a while back) is being bought by The Bank of New York for a cool 16 billion. What they are saying this means for Pittsburgh:

1. We’re losing another headquarters (Alcoa technically moved theirs to NYC this year).

2. Jobs will be lost and then gained, hopefully.

3. The merged name is “The Bank of New York Mellon Corporation”. Boy doesn’t that just roll off of your tongue? Can’t wait to see the logo.

4. Lukey said:

“Early indications are that perhaps this is a good thing for the region,” said Mr. Ravenstahl.

Okay.

My biggest question is, what’s the new name for the Mellon Arena?

I REALLY REALLY hope it is The Bank of New York Mellon Corporation Arena, just so I can hear Paul Steigerwald say that 12 times every game. Awesome.





15 Comments

  1. ethan
    December 4, 2006 1:13 pm

    Best of all, they snagged it at a discount compared to the 23 billion offered last time.



  2. Ruby Vroom
    December 4, 2006 1:14 pm

    Yeah, I’ve always felt like we’ve gotten off pretty easy in this city as far as corporate-named venues go. Heinz Field, Mellon Arena, PNC Park. All easy to say and 2 of the three having old Pgh family names attached? You had to know it was time for those days to come to an end at some point. The Bank of New York Mellon Corporation Arena? Yeah, that sounds about right…



  3. Ruby Vroom
    December 4, 2006 1:15 pm

    By the way, are we getting a What They’re Really Thinking today, Pittgirl? I have to admit I’ve been waiting all morning for it. Sorry to nag but it’s your own damn fault for having my fave Steelers coverage…



  4. RIchmond K. Turner
    December 4, 2006 2:16 pm

    When everything is said and done, Pittsburgh will be nothing more than a giant off-site data center for BoNY. The Mellon suffix on the new company’s name will last no longer than 5 years, all of the really good jobs at Mellon will go to New York, and hordes of high-end professionals — both within Mellon and among those companies which support it — will end up leaving town. Damn, I’m depressing! Sorry to be such a downer, but I’ve spent all morning looking for any kind of silver lining, and I just can’t find one.



  5. pittgirl
    December 4, 2006 2:25 pm

    What they’re really thinking, coming later today Ruby. :)



  6. Judge Rufus Peckham
    December 4, 2006 2:35 pm

    Mellon originally was here primarily because of steel. When the steel mills closed, it was just a matter of time before the attendant service industries said to themselves, “Hmm, aside from the fact that we are so entrenched here, with a big workforce and real estate and so forth, we really don’t need to be here.” For many years, Pittsburgh was the third largest Fortune 500 headquarters in America, despite our size. The loss of Mellon painfully underscores the passing of a wonderful era for Pittsburgh, an era that will not be recreated, just as the heavy industrial revolution will not be recreated, despite all the talk of competing in the new economy, feeding off vibrant talent of CMU etc. Pittgirl is most astute for pointing out the Alcoa move, which most people didn’t notice.



  7. Zsa
    December 4, 2006 2:50 pm

    Everyone will keep calling it the Civic Arena, just as they have for the past however many years. It could be bought out by Tampax and renamed the Tampax Sports Circle and have a giant tampon revolving on top of it, string blowing jauntily in the breeze, and people would still call it the Civic Arena. Just like we still call that thing in Burgettstown Star Lake.

    Besides, it’s going to be gone fairly soon anyway, isn’t it, once the casino builds the new one?

    Everyone who thinks this is Mellon’s karmic payback for the butt ugly glowing sign on the top of their building, raise their hand.



  8. RIchmond K. Turner
    December 4, 2006 2:53 pm

    I guess this means that, despite our best efforts, that the “Future of Pittsburgh” ball-raising idea has failed in creating “… a venue that’s better than Times Square?”. Gee, and we tried so hard, too.



  9. bern1
    December 4, 2006 4:13 pm

    The acronym for that name, sans “The,” is BONY MCA. Just sayin’.



  10. bern1
    December 4, 2006 4:14 pm

    Or, you could shorten the name by making it BONY Mellon. Yeah, that’s it. That’s a keeper.



  11. Chase
    December 4, 2006 11:44 pm

    Zsa, the casino isn’t gonna build a new arena because the casino will be in Station Square. Politicians are assholes. So is Franco HARRAH’S.



  12. Lino Gunn
    December 5, 2006 5:30 pm

    It’s all smoke & mirrors, the Mellon attachment will last a couple years and disappear, along with any remaining jobs . Face it kids the city is dying on the vine, big business is going or gone and with our history of politics/labor/unions and back room deals, well you can figure it out . Just take the fork out it’s done.



  13. Jon
    December 6, 2006 10:53 am

    Personally I wouldn’t get too concerned yet. “The Bobs” said to move things to Pittsburgh, this merger and the “restructuring” that is likely to follow will in my opinion somehow implement “The Bobs” advice.

    http://www.boston.com/business/articles/2006/12/05/hub_will_gain_sway_in_buyout_of_mellon/

    “Still, he cautioned that Mellon recently completed a strategic review that recommended that it relocate many of its jobs to cities like Pittsburgh, where it is headquartered, because it’s much cheaper than doing business in Boston or New York.”

    1. “The Bobs” – outside consultants from the movie Office Space.



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