$1 Million NASDAQ Donation Funds New DOT Emergency Response Boat
Release # 06-18
Friday March 17, 2006
The New York City Department of Transportation (DOT) today along with The NASDAQ Stock Market, Inc. announced the awarding of a contract for a new high speed utility boat for the City of New York. The NASDAQ Disaster Relief Fund, Inc. donated $1 million to the City for the purchase of a small boat which could respond to emergency situations in and around lower Manhattan . Gladding-Hearn Shipbuilding in Somerset, Massachusetts will be building the vessel which should be ready for delivery in the spring of 2007.
“The addition of this boat to the DOT fleet will provide a crucial link in the City's emergency response plan,” said DOT Commissioner Iris Weinshall. “It's also another important step in the reform of the Ferry Division since it will expand our ability to respond to internal emergency scenarios.”
”We are pleased to contribute to The City of New York's emergency response plan through the NASDAQ Disaster Relief Fund,” commented Ed Knight, Executive Vice President, The NASDAQ Stock Market. “The high speed utility boat will serve an important role in DOT's emergency response efforts for the benefit of all New Yorkers,” added Mr. Knight.
The new boat can hold 12 passengers in addition to its crew and will have a top speed of 30 knots so that DOT can utilize the high speed boat to respond to emergency situations. In situations where a ferry may require assistance in mid-harbor, the utility boat will be used to shuttle maintenance staff quickly from the terminals to the boat. The boat will also be used to deliver DOT staff and equipment to the private ferry landings around Manhattan during an emergency, where effective crowd control and communication is essential.
The Staten Island Ferry system transports 65,000 passengers a day on the five-mile ride between St. George Terminal on Staten Island and Whitehall Terminal in Manhattan. The boats operate 24-hours a day, 365-days a year and have been a vital municipal service since 1905.
NASDAQ created the NASDAQ Disaster Relief Fund following September 11 th to assist the families who had been affected. Contributions to this fund were aimed at providing solutions for the families and victims of the disaster - from food and shelter to college education funding and more.
NASDAQ is the largest U.S. electronic stock market. With approximately 3,200 companies, it lists more companies and, on average, trades more shares per day than any other U.S. market. It is home to companies that are leaders across all areas of business including technology, retail, communications, financial services, transportation, media and biotechnology. NASDAQ is the primary market for trading NASDAQ-listed stocks. For more information about NASDAQ, visit the NASDAQ Web site at http://www.nasdaq.com or the NASDAQ Newsroom at http://www.nasdaq.com/newsroom/.
Contact: DOT – Kay Sarlin or Ted Timbers (212) 442-7033
NASDAQ – Silvia Davi (646) 441-5014