The Afternoon Wrap: Thursday

With America’s retailers reporting weak sales, Wall Street is hit with another bad day. The Dow falls 4.8 percent, while the S&P falls 5 percent. [NY Times]

Can Tishman Speyer turn things around after its Stuy-Town and Archstone Smith deals turn sour? [TRD]

Bloomberg isn’t the only one firing people. Citigroup and Goldman Sachs have both begun terminating staff as part of an effort to cut a combined 12,000 jobs. [Bloomberg]

Forest City—Bruce Ratner’s parent company—has also started laying off staff, though it won’t say how many. [Plain Dealer]

The owner of a Bronx barbershop honors his fallen brother by misspelling his business’ address. [City Room]

Williamsburg’s Hot Karl gets a new buddy! A six-story hotel designed by Thomas Gilman Architects is coming to the site of the Getty gas station at Union Avenue and Keap Street. [Curbed]

The Chupi Chronicles continue as the asking price for its three-bedroom duplex falls from $27 to $23 million. [Curbed]

Is the city trying to deflate purchase prices at Willets Point while cheating business-owners out of the money they need to relocate? [Queen’s Crap]

Vandals steal the cornerstone of Bay Ridge’s recently demolished Green Church. [Bay Ridge Rover]

Updating NYC streets for the 21st century. Transportation Alternatives picks three winning designs. [Streets Blog via BoweryBoogie]

Until Nov. 11, Port Authority executive director Christopher Ward will take questions from the public on the delays at Ground Zero at wtcprogress.com. [Newsday]

The Afternoon Wrap: Thursday