Merrill Quits Talks to Move to Ground Zero

Years behind schedule and billions of dollars over budget, the project to rebuild Ground Zero took another blow as struggling brokerage Merrill Lynch—projected as an anchor tenant for one of four planned office buildings—ended talks with the Port Authority and developer Larry Silverstein, reports the New York Times.

Merrill joins a list of companies frightened off by construction delays and the daunting memories of 9/11 at the $16 billion project. Only one building, the $3 billion Freedom Tower, is currently being built. Silverstein is responsible for the other three, and there is increasing concern he may not be able to find funding for the project. (More Merrill Lynch stories.)