- Facing intense opposition, a large real estate developer has dropped its plans to include a Wal-Mart store in a Queens shopping complex, thwarting Wal-Mart's plan to open its first store in New York City, city officials and real estate executives said yesterday.
The decision by the developer, Vornado Realty Trust, is a blow to Wal-Mart, the world's largest retailer, and comes after company officials said that New York City was an important new frontier in which Wal-Mart was eager to expand ...
[O]ne executive briefed on the talks between Vornado and Wal-Mart said Vornado had concluded that keeping Wal-Mart would jeopardize the city's approval of a large, ambitious project that included other stores and two 25-story apartment towers.
"There were people who felt it was a major risk for the project," said the executive, who asked not to be identified in order not to anger either side.
Earlier I noted that New York would be site of the biggest big-box brawl yet. Like Mike Tyson fights from years ago, this one was over almost before it began: