SECURITIES
From Times Staff and Wire Reports
Prudential Opts to Stay on the Street: New York City won a victory in its effort to retain brokerage industry jobs when Prudential Securities Inc. said it would consolidate its Wall Street operations in two lower Manhattan locations. After two years of talks, Prudential was persuaded to stay in Manhattan by an offer of $106 million in tax and utility incentives from the city and state of New York. Like many other brokerages, Prudential had considered shifting thousands of back-office employees to cheaper space across the Hudson River in New Jersey.
