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Paul Biotini. There was one investment company that lost 658 of its 960 employees. Before that day, Cantor Fitzgerald hadn't been all that well known beyond Wall Street. However, after 9-11, it was known as the business to have lost the most employees on 9-11.
Quote, we have death fame, CEO Howard Lutnick said. A few days after the horrific event, Lutnick participated in an emotional interview. He didn't just lose all those employees, by the way.
One of them was his brother. Here he is explaining why he wasn't there. My little boy, I have a five-year-old and it was his first day of kindergarten at Har's man.
So I took him for his first day of big boy school. And because of that, I was late getting down to the office and therefore I wasn't in the building. I was on my way. I saw the building on fire, so I didn't go in. But I stood at the door off of Church Street where there were flags there. And I stood at that door and people were coming out and I was yelling at them, you know, to run and get out. And there were police sort of around me yelling at people, tell them to get out. And I would ask them what floor they were coming from, what floor they were coming from.
So I would say 55 and I'd scream, we have 55 and because I kept wanting to get up the building. Well, my brother was on the 103rd floor. He worked for me and he worked at Canter. And he called my sister just after the plane hit and he told her that. He said that the smoke was pouring in. He was stuck in a corner office there was no way out. And the smoke was coming in and he's not good and things are not good and he's not going to make it. And he just wanted to say that he loved her. And he wanted to say goodbye and tell everyone that he loved them.
And then the phone went dead. The plane crashed into floors 93 through 99. Canter Fitzgerald was located right above them. 101 to 105, the top floors of number one World Trade Center, which they call now the North Tower. I got to the 91st floor and I knew if I got one employee, if one person came down from that floor, then I know that there had to be others.
There would be others behind and there would be others going out other doors that that would be good. But I got up to 91 and then I heard this sound. It sounded like another plane was going to hit the building. But it didn't sound like it was far away. It sounded like it was like right when the ceiling is above us. It was so unbelievably loud and someone screamed out another one's coming. So I just turned around and ran and I and I was running.
I was it was number two World Trade Center collapsing. So I'm standing underneath a building like an idiot and I start running and I'm trying to get ahead of the smoke. And then the smoke comes around the corner and trimming church where I ran and knocks me down underneath a truck. And I'm sitting there in this black, the blackest black can ever be. I reached up. I tried to see if I could see it. I took my hands and I put it up and I actually touched my eye. I couldn't see my hand. I could feel the particles in the air. They were they were like this big.
I could feel them going in. And I wasn't I couldn't think to pick up my shirt. But I was just I was just sitting there thinking, I can't believe it. I can't believe by standing there I died. So I just start walking. I just start walking straight and I just walk straight and I just keep walking straight. And I call my wife for hours. She was hysterical crying. And so I understand why it took lots of people a long time.
I was I'm a pretty together person. And I for hours I walked. I just walked north. I just kept walking.
And he just kept walking. All the Cantor Fitzgerald companies are connected by speakerphone. So there were voices heard from the tower amidst the chaos. Yeah, we have, you know, a speakerphone because all our offices are connected in our equity business.
They're all connected to each other because they talk to each other all day. And they heard them saying, you know, we need help. We need help.
We need help. It wasn't it wasn't screams. It was there was nowhere to go. You couldn't go down, couldn't go up. There was nowhere to go.
But I don't know of a single one of my employees who got down 0 0. And it's really sad. But I think we're all pulling together with a view that we want to make things happen for them. We need to take care of that. We need to figure out how to take care of them and give them more. Take care of them.
And I think it's going to be a different kind of drive than I've ever had before. It's not about my it's not about my family. I get to kiss my kids. I get to kiss my kids tonight.
But other people don't get to kiss their kids. And I just have to help. And I think I think what's amazing.
And I think it's amazing. You have 300 people. They lost all their friends. They lost the person to their left.
They lost the person to their right. And they call me up and they say, I want to go to work. And I say, why do you want to go to work?
Let's just go to funerals. And they go, no, no, I want to go to work. I can't stay home. I can't stay home. I have to make, I have to work.
I have to do something. And so they actually wanted to try to figure out how to be in business. It's unbelievable.
It doesn't make sense. But the reason they want to be in business, and there's only one reason to be in business, is because we have to make our company be able to take care of my 700 families. 700 families. And have 700 families. I just can't say it.
I can't say it without crying. Well the different kind of drive that he'd never known before kicked in to Howard Lutnick and those remaining employees. Howard further explains what Cantor Fitzgerald was doing before and after. Cantor Fitzgerald is the primary, it's like the exchange for the world's bond markets. I mean it's, it is the exchange for the world bond markets. Last year we did 50 trillion dollars in business.
Today the remaining employees of Cantor Fitzgerald and Eastby have worked every second since that bond. And they made the decision. And I told them there's no reason for us to open. I don't care when we open, if we open, it doesn't matter to me. And they collectively, 250 of them collectively voted that they were going to open the markets.
And this morning at 7 a.m. those people opened for business, not to make money, but they did it because they thought if the Fed and the Treasury wanted it to be open it was important enough for them to show strength for America and for these markets then they were going to do their damnedest to get it open and they did. And I voted against it. I said why? I don't want you to work.
I want you to go home and kiss your kids and hug your families. But they, it's them. They wanted, they wanted to do it, maybe for themselves, maybe for their friends who they lost. But so right this second our electronic systems are running around the world and it's, I don't know, maybe it's a miracle, maybe it's because these people just, they're unbelievable.
I think you can only be a good boss if you have the right people. And I'm glad they chose to be with me, but I'm the saddest person in the world that they chose to be with me. Because they would have chose to be with me. So many people, so many names, so many people I loved. So many people we all loved. Again, that's Howard Lutnik, the CEO of Cantor Fitzgerald. They lost so much, but they did go back to work and here's why. After 9-11, the Cantor Fitzgerald Relief Fund was established. All those people went back to work for a cause, a big cause. They have distributed more than $180 million to the family of Cantor Fitzgerald. One quarter of the firm's profits. What a great American story, what a sad American story.
Cantor Fitzgerald's story, Howard Lutnik's story here on Our American Stories 9-11 Remembered. There's two kinds of people in the world, people who love health aid kombucha and people who have never tried it. The bubbly mix of probiotic tea and refreshing juice is delicious and good for your gut health. With great flavors to choose from that you can't help but love. If you've never tried it before, maybe try a bottle or can of passion fruit tangerine or ginger lemon.
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