"We've got to respect the fact that to retain the businessesthat were displaced, we'd move them into the building we were aboutto take down," he commented. "We can pretty well say that a 900-ft.tower is not a saleable transaction. We've got to wait and see--aswe have committed to do with the Mayor and certainly theMayor-elect--what the city's plans are in terms of rebuildingground zero."

Grasso did note that plans for the headquarters building arestill alive, but any new build would almost certainly entail astructure shorter than the previous plans called for in an effortto avoid being the tallest building downtown.

He also mentioned that alternative facilities must be created"if the unthinkable should ever happen again." He noted thatprocessing sites in Brooklyn will be upgraded to serve as alternatetrading venues to guarantee that "markets will resume in a shortperiod of time."