In the midst of losing oodles of money, raising more money (presumably so that they can lose it all over again), and whatever else it is that gets done at World Financial Center #4 these days, Merrill Lynch is reportedly in talks to relocate its Headquarters.
It wasn't that long ago that Merrill was in talks with Vornado to relocate to the lovely area that is west 34th street (near Penn Station and Madison Square Garden), but when the credit crisis (and I use that term regrettably) shook the markets late last summer/fall, talks ceased, presumably since ML had many bigger, more important things to deal with.
Key word: "presumably".
I guess we should take this as a sign that ML has totally cleaned up their mess from their forays into LBOs, structured finance, and other fun (read: disasterous) activities, and has returned to a healthy, profitable state.
On the other hand, maybe they're just jealous that Goldman's new building is bigger.