150-496: MetLife, Inc. is the holding corporation for the Metropolitan Life Insurance Company ( MLIC ), better known as MetLife , and its affiliates. MetLife is among the largest global providers of insurance , annuities , and employee benefit programs, with around 90 million customers in over 60 countries. The firm was founded on March 24, 1868. MetLife ranked No. 43 in the 2018 Fortune 500 list of
300-499: A "backup" since signal transmissions from the building were generally of poorer quality. Following the construction of One World Trade Center in the late 2000s and early 2010s, some TV stations began moving their transmitting facilities there. As of 2021 , the Empire State Building is home to the following stations: The site was previously owned by John Jacob Astor of the prominent Astor family , who had owned
450-419: A "medallion" in the very southeast portion of the outline. A compass is depicted in the bottom right and a plaque to the building's major developers is on the bottom left. A scale model of the building was also placed south of the security desk. The plaque at the western end of the lobby is on the eastern interior wall of a one-story-tall rectangular-shaped corridor that surrounds the banks of escalators, with
600-481: A 25-story office building on the Waldorf–Astoria site. The company's president, Floyd De L. Brown, paid $ 100,000 of the $ 1 million down payment required to start construction on the building, with the promise that the difference would be paid later. Brown borrowed $ 900,000 from a bank but defaulted on the loan. After Brown was unable to secure additional funding, the land was resold to Empire State Inc.,
750-554: A black granite cladding. The second through fourth stories consist of windows alternating with wide stone piers and narrower stone mullions . The fifth story contains windows alternating with wide and narrow mullions, and is topped by a horizontal stone sill. The facade of the tower stories is split into several vertical bays on each side, with windows projecting slightly from the limestone cladding. The bays are arranged into sets of one, two, or three windows on each floor. The bays are separated by alternating narrow and wide piers,
900-557: A combined average of four million visitors per year in 2010. Since opening, the observatories have been more popular than similar observatories at 30 Rockefeller Plaza , the Chrysler Building, the first One World Trade Center, or the Woolworth Building , despite being more expensive. There are variable charges to enter the observatories; one ticket allows visitors to go as high as the 86th floor, and there
1050-412: A dedicated broadcast tower began on July 27, 1950, with TV, and FM, transmissions starting in 1951. The 200-foot (61 m) broadcast tower was completed in 1953. From 1951, six broadcasters agreed to pay a combined $ 600,000 per year for the use of the antenna. In 1965, a separate set of FM antennae was constructed ringing the 103rd floor observation area to act as a master antenna. The placement of
1200-564: A disabling illness or accident . The company also maintains an absence management product which allows employers to track and manage both planned and unplanned employee absences. The product, which MetLife calls MetLife Total Absence Management, is structured for businesses with 1,000 or more employees. MetLife is among the largest providers of annuities in the world, recording $ 22.4 billion in sales during 2009. MetLife offers annuities which consist of fixed annuities, variable annuities, deferred annuities and immediate annuities. In 1921, MetLife
1350-483: A few FM stations were relocated to the nearby Condé Nast Building to reduce the number of broadcast stations using the Empire State Building. Eleven television stations and twenty-two FM stations had signed 15-year leases in the building by May 2003. It was expected that a taller broadcast tower in Bayonne, New Jersey , or Governors Island , would be built in the meantime with the Empire State Building being used as
1500-637: A few broadcasters renewed their leases in the Empire State Building. The September 11 attacks destroyed the World Trade Center and the broadcast centers atop it, leaving most of the city's stations without a transmitter for ten days until the Armstrong Tower in Alpine, New Jersey , was re-activated temporarily. By October 2001, nearly all of the city's commercial broadcast stations (both television and FM radio) were again transmitting from
1650-428: A group of wealthy investors that included Louis G. Kaufman , Ellis P. Earle , John J. Raskob , Coleman du Pont, and Pierre S. du Pont . The name came from the state nickname for New York. Alfred E. Smith , a former Governor of New York and U.S. presidential candidate whose 1928 campaign had been managed by Raskob, was appointed head of the company. The group also purchased nearby land so they would have
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#17327871875451800-467: A joint venture with Schulz's heirs (as Charles Schulz himself died in 2000), buying out E. W. Scripps Co. and United Features Syndicate for $ 175 million. MetLife was reported to pay $ 12 million per year to Iconix for licensing rights. Prior to the Iconix deal, MetLife had licensed the characters from other rights-holders. Holding company A holding company is a company whose primary business
1950-419: A mezzanine level. At the west end of the lobby, behind the security desk, is an aluminum relief of the skyscraper as it was originally built (without the antenna). The relief, which was intended to provide a welcoming effect, contains an embossed outline of the building, with rays radiating from the spire and the sun behind it. In the background is a state map of New York with the building's location marked by
2100-574: A new company and keeps majority shares with itself, and invites other companies to buy minority shares, it is called a parent company. A parent company could simply be a company that wholly owns another company, which is then known as a " wholly owned subsidiary ". Empire State Building The Empire State Building is a 103-story Art Deco skyscraper in the Midtown South neighborhood of Manhattan in New York City . The building
2250-527: A parent company material influence if they are the largest individual shareholder or if they are placed in control of the running of the operation by non-operational shareholders.) In the United Kingdom, the term holding company is defined by the Companies Act 2006 at section 1159. It defines a holding company as a company that holds a majority of the voting rights in another company, or
2400-453: A similar design to the lobby. The rectangular-shaped corridor actually consists of two long hallways on the northern and southern sides of the rectangle, as well as a shorter hallway on the eastern side and another long hallway on the western side. At both ends of the northern and southern corridors, there is a bank of four low-rise elevators in between the corridors. The western side of the rectangular elevator-bank corridor extends north to
2550-523: A storm. After the September 11 attacks in 2001, the ride was closed. An updated version debuted in mid-2002, featuring actor Kevin Bacon as the pilot, with the new flight also going haywire. This new version served a more informative goal, as opposed to the old version's main purpose of entertainment, and contained details about the 9/11 attacks. The simulator received mixed reviews, with assessments of
2700-695: A strategic alliance and for it to take a 30% share in MetLife India. The state owned bank would in return sell MetLife insurance products in its branches As of 2015, Julio Garcia-Villalon leads the Middle East & Africa regional business, which is headquartered in the Dubai International Financial Centre and has operated in the region since the 1950s. MetLife has been operating in Bangladesh since 1952. It
2850-427: A symmetrical massing because of its large lot and relatively short base. Its articulation consists of three horizontal sections—a base, shaft, and capital —similar to the components of a column . The five-story base occupies the entire lot, while the 81-story shaft above it is set back sharply from the base. The setback above the 5th story is 60 feet (18 m) deep on all sides. There are smaller setbacks on
3000-532: A uniform shape. According to architectural writer Robert A. M. Stern , the building's form contrasted with the nearly contemporary, similarly designed 500 Fifth Avenue eight blocks north, which had an asymmetrical massing on a smaller lot. The Empire State Building's Art Deco design is typical of pre–World War II architecture in New York City. The facade is clad in Indiana limestone panels made by
3150-477: A work consisting of 15,000 stars and 5,000 circles, superimposed on a 13-by-5-foot (4.0 by 1.5 m) etched-glass installation, in the lobby. The Empire State Building has 73 elevators in all, including service elevators. Its original 64 elevators, built by the Otis Elevator Company , in a central core and are of varying heights, with the longest of these elevators reaching from the lobby to
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#17327871875453300-442: A year regardless of the weather. The 102nd floor observatory is completely enclosed and much smaller in size. The 102nd floor observatory was closed to the public from the late 1990s to 2005 due to limited viewing capacity and long lines. The observation decks were redesigned in mid-1979. The 102nd floor was again redesigned in a project that was completed in 2019, allowing the windows to be extended from floor to ceiling and widening
3450-417: Is 1,250 ft (381 m) tall to its 102nd floor, or 1,453 feet 8 + 9 ⁄ 16 inches (443.092 m) including its 203-foot (61.9 m) pinnacle. It was the first building in the world to be more than 100 stories tall, though only the lowest 86 stories are usable. The first through 85th floors contain 2.158 million square feet (200,500 m ) of commercial and office space, while
3600-460: Is a group of planners which serve families and individuals with special needs. In 2014, MetLife launched MetLife Defender, a digital identity theft protection product. As of 2010, MetLife was "organized into five segments: Insurance Products, Retirement Products," the US Business (including Auto & Home and Corporate Benefit Funding), and International. The Insurance Products division was
3750-643: Is a member of another company and has the right to appoint or remove a majority of its board of directors, or is a member of another company and controls alone, pursuant to an agreement with other members, a majority of the voting rights in that company. After the financial crisis of 2007–2008 , many U.S. investment banks converted to holding companies. According to the Federal Financial Institutions Examination Council 's website, JPMorgan Chase , Bank of America , Citigroup , Wells Fargo , and Goldman Sachs were
3900-410: Is an additional charge to visit the 102nd floor. Other ticket options for visitors include scheduled access to view the sunrise from the observatory, a "premium" guided tour with VIP access, and the "AM/PM" package which allows for two visits in the same day. The 86th floor observatory contains both an enclosed viewing gallery and an open-air outdoor viewing area, allowing for it to remain open 365 days
4050-590: Is currently the leading life insurer and has been since 1997. MetLife Bangladesh is headquartered at the Motijheel Commercial Area , the main CBD of Dhaka . MetLife Foundation is MetLife's independent charitable and grant-awarding foundation . It was founded in 1976 and had provided over $ 650 million in grants by January 2015. The foundation has partnered with and donated to a variety of organizations, including Habitat for Humanity since 2010 and
4200-478: Is defined by Part 1, Section 5, Subsection 1 of the Companies Act, which states: 5.—(1) For the purposes of this Act, a corporation shall, subject to subsection (3), be deemed to be a subsidiary of another corporation, if — In the United Kingdom, is generally held that an organisation holding a 'controlling stake' in a company (a holding of over 51% of the stock) is in effect the de facto parent company of
4350-461: Is holding a controlling interest in the securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own stock of other companies to form a corporate group . In some jurisdictions around the world, holding companies are called parent companies , which, besides holding stock in other companies, can conduct trade and other business activities themselves. Holding companies reduce risk for
4500-605: Is owned by The Walt Disney Company and is leased to Metlife and Tishman (which owns the buildings) and operated by Marriott International as a Westin hotel. Outside of the United States, MetLife operates in Latin America, Europe, Asia's Pacific region, and the Middle East, with leading market positions in Mexico, Japan, South Korea, Bangladesh and Chile. On March 8, 2010, MetLife announced its intent to purchase
4650-546: The 1916 Zoning Resolution , which was intended to allow sunlight to reach the streets as well. Normally, a building of the Empire State's dimensions would be permitted to build up to 12 stories on the Fifth Avenue side, and up to 17 stories on the 33rd Street and 34th Street sides, before it would have to utilize setbacks. However, with the largest setback being located above the base, the tower stories could contain
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4800-725: The American Dental Association (ADA) and the Academy of General Dentistry (AGD). MetLife provides disability products for individuals as well as employee and association groups who receive them through their employer. For individuals, the company's individual disability income insurance can replace a portion of lost income if an individual is unable to work due to sickness or injury. MetLife offers several individual disability income policies, including MetLife Income Guard, OMNI Advantage, OMNI Essential, Business Overhead Expense, and Buy-Sell. The policy options provided by
4950-586: The Art Deco lobby located at 350 Fifth Avenue. Visitors to the observatories use an entrance at 20 West 34th Street; prior to August 2018, visitors entered through the Fifth Avenue lobby. Although physically located in South Midtown, a mixed residential and commercial area, the building is so large that it was assigned its own ZIP Code , 10118; as of 2012 , it is one of 43 buildings in New York City that have their own ZIP codes. The areas surrounding
5100-505: The B. Altman and Company Building , which houses the City University of New York 's Graduate Center . The nearest New York City Subway stations are 34th Street–Herald Square , one block west, and 33rd Street at Park Avenue , two blocks east; there is also a PATH station at 33rd Street and Sixth Avenue . The Empire State Building was designed by Shreve, Lamb and Harmon in the Art Deco style. The Empire State Building
5250-607: The Federal Communications Commission (FCC) ordered the exclusive deal be terminated. The FCC directive was based on consumer complaints that a common location was necessary for the seven extant New York-area television stations to transmit from so that receiving antennas would not have to be constantly adjusted. Other television broadcasters would later join RCA at the building on the 81st through 83rd floors, often along with sister FM stations. Construction of
5400-647: The Martin Luther King, Jr. National Memorial Project Foundation since 2008. In 2013, the MetLife Foundation announced a new focus on financial inclusion , including educational programs on basic financial planning for disadvantaged children and financial services aimed at low-income communities. According to the OECD , MetLife Foundation’s financing for 2019 development increased by 20% to US$ 14 million. MetLife's use of comic strip characters since
5550-589: The New York City Landmarks Preservation Commission in 1980, and were added to the National Register of Historic Places as a National Historic Landmark in 1986. The Empire State Building is located on the west side of Fifth Avenue , between 33rd Street to the south and 34th Street to the north, in the Midtown South neighborhood of Manhattan in New York City . Tenants enter the building through
5700-548: The New York Knicks ; red, white, and blue for the New York Rangers . The spire can also be lit to commemorate events including disasters, anniversaries, or deaths, as well as for celebrations such as Pride and Halloween . In 1998, the building was lit in blue after the death of singer Frank Sinatra , who was nicknamed "Ol' Blue Eyes". The structure was lit in red, white, and blue for several months after
5850-643: The Pan Am Building from a group that included Pan American World Airways for the price of $ 400 million. The building was subsequently renamed and the prominently displayed Pan Am logo was replaced with the MetLife logo. In 2000, MetLife converted from a mutual insurance company operated for the benefit of its policyholders to a for-profit public company. The de-mutualization process allowed MetLife to enter unrelated insurance businesses and increase executive compensation. Policyholders received some stock in
6000-589: The US Department of Justice asking that their challenge be dismissed. On August 7, 2012, it was announced that MetLife will pay $ 3.2 million in fines after the Federal Reserve charged it used unsafe and unsound practices in handling its mortgage servicing and foreclosure operations. In 2014, MetLife paid $ 23 million to settle multiple lawsuits over junk fax operations used to generate leads for life insurance sales. MetLife Bank took advantage of
6150-599: The Willis Tower 's 33 pounds per square foot (1.6 kPa) and the John Hancock Center 's 26 pounds per square foot (1.2 kPa). A December 1930 feature in Popular Mechanics estimated that a building with the Empire State's dimensions would still stand even if hit with an impact of 50 short tons (45 long tons). Utilities are grouped in a central shaft. On the 6th through 86th stories,
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6300-578: The board of directors of MetLife included: MetLife subsidiaries and affiliates have included MetLife Investors, MetLife Bank, MetLife Securities, Metropolitan Property and Casualty Insurance Company and its subsidiaries, General American, MetLife Legal Plans, MetLife Resources, New England Financial, Walnut Street Securities, Inc., Safeguard Health Enterprises, Inc., and Tower Square Securities, Inc., Cigna. The subsidiary MetLife Insurance Company USA, as of 2015, headquartered in Charlotte, North Carolina ,
6450-481: The broadcast licenses to reflect this, resulting in stations that are (for example) still licensed to Jacor and Citicasters , effectively making them such as subsidiary companies of their owner iHeartMedia . This is sometimes done on a per- market basis. For example, in Atlanta both WNNX and later WWWQ are licensed to "WNNX LiCo, Inc." (LiCo meaning "license company"), both owned by Susquehanna Radio (which
6600-578: The collapse of the World Trade Center on September 11, 2001 . On January 13, 2012, the building was lit in red, orange, and yellow to honor the 60th anniversary of the NBC program The Today Show . After retired basketball player Kobe Bryant 's January 2020 death , the building was lit in purple and gold, signifying the colors of his former team, the Los Angeles Lakers . The evening after iconic actor James Earl Jones died, September 9, 2024,
6750-443: The national recession . In 2011, CEO Robert Henrikson was replaced by Steven A. Kandarian , who had overseen the company's " US$ 450,000,000,000 investment portfolio" as chief investment officer . Henrikson remained the company's chairman to the end of 2011, at which point he reached the company's mandatory retirement age . In 2015, MetLife was ranked as number one on Fortune magazine's list of World's Most Admired Companies in
6900-442: The shareholders , and can permit the ownership and control of a number of different companies. The New York Times uses the term parent holding company . Holding companies can be subsidiaries in a tiered structure . Holding companies are also created to hold assets such as intellectual property or trade secrets , that are protected from the operating company. That creates a smaller risk when it comes to litigation . In
7050-410: The $ 550 million renovation of the building. An additional elevator connects the 86th and 102nd floor observatories, which allows visitors access the 102nd floor observatory after having their tickets scanned. It also allows employees to access the mechanical floors located between the 87th and 101st floors. The 80th, 86th, and 102nd floors contain observatories. The latter two observatories saw
7200-405: The 103rd floor, there is a set of stairs and a ladder to reach the spire for maintenance work. The mast's 480 windows were all replaced in 2015. The mast serves as the base of the building's broadcasting antenna. Inflatable objects have sometimes been mounted to the spire for promotional purposes. For example, a King Kong balloon was attached to the spire in 1983 to mark the 50th anniversary of
7350-516: The 2 acres (1 ha) needed for the base, with the combined plot measuring 425 feet (130 m) wide by 200 feet (61 m) long. The Empire State Inc. consortium was announced to the public in August 1929. Concurrently, Smith announced the construction of an 80-story building on the site, to be taller than any other buildings in existence. Empire State Inc. contracted William F. Lamb , of architectural firm Shreve, Lamb and Harmon , to create
7500-421: The 34th Street entrance and south to the 33rd Street entrance. It borders three large storefronts and leads to escalators (originally stairs), which go both to the second floor and to the basement. Going from west to east, there are secondary entrances to 34th and 33rd Streets from the northern and southern corridors, respectively. The side entrances from 33rd and 34th Street lead to two-story-high corridors around
7650-565: The 72nd floor to illuminate the top of the building at night so that the building could be seen from the World Fair later that year. The lights were shut off from November 1973 to July 1974 because of the energy crisis at the time. In 1976, the businessman Douglas Leigh suggested that Wien and Helmsley install 204 metal-halide lights , which were four times as bright as the 1,000 incandescent lights they were to replace. New red, white, and blue metal-halide lights were installed in time for
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#17327871875457800-490: The 80th floor. As originally built, there were four "express" elevators that connected the lobby, 80th floor, and several landings in between; the other 60 "local" elevators connected the landings with the floors above these intermediate landings. Of the 64 total elevators, 58 were for passenger use (comprising the four express elevators and 54 local elevators), and eight were for freight deliveries. The elevators were designed to move at 1,200 feet per minute (366 m/min). At
7950-474: The 85th floor and built a laboratory there. In 1934, RCA was joined by Edwin Howard Armstrong in a cooperative venture to test his FM system from the building's antenna. This setup, which entailed the installation of the world's first FM transmitter , continued only until October of the next year due to disputes between RCA and Armstrong. Specifically, NBC wanted to install more TV equipment in
8100-424: The 86th floor contains an observatory. The remaining 16 stories are part of the spire, which is capped by an observatory on the 102nd floor; the spire does not contain any intermediate levels and is used mostly for mechanical purposes. Atop the 102nd story is the 203 ft (61.9 m) pinnacle, much of which is covered by broadcast antennas, and surmounted with a lightning rod . The Empire State Building has
8250-649: The Bank of Manhattan Building) and the Chrysler Building in Manhattan both vied for this distinction and were already under construction when work began on the Empire State Building. The "Race into the Sky", as popular media called it at the time, was representative of the country's optimism in the 1920s, fueled by the building boom in major cities. The race was defined by at least five other proposals, although only
8400-474: The Chrysler Building, and Raskob was afraid that Chrysler might try to "pull a trick like hiding a rod in the spire and then sticking it up at the last minute." The plans were revised one last time in December 1929, to include a 16-story, 200-foot (61 m) metal "crown" and an additional 222-foot (68 m) mooring mast intended for dirigibles . The roof height was now 1,250 feet (380 m), making it
8550-403: The Empire State Building allows for more space overall, with a 1:200 stone-to-building ratio compared to a 1:50 ratio in similar buildings. The original main lobby is accessed from Fifth Avenue, on the building's east side, and is the only place in the building where the design contains narrative motifs. It contains an entrance with one set of double doors between a pair of revolving doors . At
8700-401: The Empire State Building are home to other major points of interest, including Macy's at Herald Square on Sixth Avenue and 34th Street, and Koreatown on 32nd Street between Madison and Sixth avenues. To the east of the Empire State Building is Murray Hill , a neighborhood with a mix of residential, commercial, and entertainment activity. The block directly to the northeast contains
8850-426: The Empire State Building weighs 365,000 short tons (331,122 t) and has an internal volume of 37 million cubic feet (1,000,000 m ). The interior required 1,172 miles (1,886 km) of elevator cable and 2 million feet (609,600 m) of electrical wires. It has a total floor area of 2,768,591 sq ft (257,211 m ), and each of the floors in the base cover 2 acres (1 ha). This gives
9000-686: The Empire State Building would survive the Wall Street Crash of 1929 . The 40 Wall Street tower was revised, in April 1929, from 840 feet (260 m) to 925 feet (282 m) making it the world's tallest. The Chrysler Building added its 185-foot (56 m) steel tip to its roof in October 1929, thus bringing it to a height of 1,046 feet (319 m) and greatly exceeding the height of 40 Wall Street. The Chrysler Building's developer, Walter Chrysler , realized that his tower's height would exceed
9150-469: The Empire State Building's as well, having instructed his architect, William Van Alen , to change the Chrysler's original roof from a stubby Romanesque dome to a narrow steel spire. Raskob, wishing to have the Empire State Building be the world's tallest, reviewed the plans and had five floors added as well as a spire; however, the new floors would need to be set back because of projected wind pressure on
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#17327871875459300-473: The Empire State Building, on the west side of Fifth Avenue between West 33rd and 34th Streets , was developed in 1893 as the Waldorf–Astoria Hotel . In 1929, Empire State Inc. acquired the site and devised plans for a skyscraper there. The design for the Empire State Building was changed fifteen times until it was ensured to be the world's tallest building. Construction started on March 17, 1930, and
9450-524: The FHA insurance program by knowingly turning a blind eye to mortgage loans that did not meet basic underwriting requirements, and stuck the FHA and taxpayers with the bill when those mortgages defaulted. U.S. Attorney John Walsh In 2015, MetLife Home Loans LLC paid $ 123.5 million to the United States Department of Justice to resolve allegations it knowingly made mortgages insured by
9600-575: The Federal Reserve's (the Fed's) Comprehensive Capital Analysis and Review stress test, intended to predict the potential failure of the company in a recession. The Fed stated that the minimum total risk-based capital ratio should be 8% and it estimated MetLife's ratio at 6%. The company had requested approval for a US$ 2,000,000,000 share repurchase to prop up the stock price, along with an increased dividend. Because MetLife owned MetLife Bank, it
9750-491: The Indiana Limestone Company and sourced from a quarry in south-central Indiana; the panels give the building its signature blonde color. According to official fact sheets, the facade uses 200,000 cubic feet (5,700 m ) of limestone and granite, ten million bricks, and 730 short tons (650 long tons) of aluminum and stainless steel. The building also contains 6,514 windows. The decorative features on
9900-647: The Insurance: Life and Health category. In the summer of 2017, MetLife plans to add a third office building of 255,000 square feet at its Cary, North Carolina Global Technology Campus, giving the company a total of 655,000 square feet at a location which has over 1,000 employees in such areas as engineering, software and technology. This plan was the result of North Carolina awarding the company $ 94 million in incentives in 2013 for creating over 2,600 jobs, half in Cary and half in Charlotte . In 2012, MetLife failed
10050-641: The SafeGuard DHMO (available for both individuals and employees in CA, FL, TX, NJ and NY.). As of May 2010, MetLife's dental PPO network included over 135,000 participating dentist locations nationwide while the dental HMO network included more than 13,000 participating dentist locations in California, Florida and Texas . MetLife also administers dental continuing education program for dentists and allied health care professionals, which are recognized by
10200-568: The United States and Canada. During the 1930s, it also began to diversify its portfolio by reducing the percentage of individual mortgages in favor of public utility bonds, investments in government securities, and loans for commercial real estate. The company financed the Empire State Building 's construction in 1929 as well as provided capital for Rockefeller Center 's construction in 1931. During World War II , MetLife placed more than 51 percent of its total assets in war bonds and
10350-587: The United States government that didn't meet federal underwriting requirements. As of 2010, MetLife had a "diverse product mix" which included insurance ( home , car and life ), variable life annuities and structured settlements , commercial mortgages and securities backed by commercial mortgages , and sovereign debt . MetLife's individual life insurance products and services comprise term life insurance and several types of permanent life insurance , including whole life, universal life, and final expense whole life insurance. These services vary in regards to
10500-497: The United States, 8 million customers outside the United States, and a net income in 2003 of $ 2.2 billion. That year, Barron's reported that 13 million American households owned at least one product from MetLife. MetLife named Robert H. Benmosche as chairman and CEO in July 1999. Benmosche occupied the position until 2006, when he was replaced by C. Robert Henrikson . The company's sales grew 11.5% between 2008 and 2009, despite
10650-446: The United States, 80% of stock, in voting and value, must be owned before tax consolidation benefits such as tax-free dividends can be claimed. That is, if Company A owns 80% or more of the stock of Company B, Company A will not pay taxes on dividends paid by Company B to its stockholders, as the payment of dividends from B to A is essentially transferring cash within a single enterprise. Any other shareholders of Company B will pay
10800-744: The United States, Japan, Latin America, Asia's Pacific region, Europe, and the Middle East. MetLife serves 90 of the largest Fortune 500 companies. MetLife's head offices and boardroom are located at the MetLife Building at 200 Park Avenue in Midtown Manhattan and New York City which MetLife owned from 1981 to 2005; despite the sale, MetLife increased its leased footprint in the building beginning in 2015. In January 2016, MetLife announced that it would spin off its U.S. retail business, including individual life insurance and annuities for
10950-573: The Year" in 2023. MetLife Auto & Home is the brand name for MetLife's nine affiliate personal lines insurance companies. Collectively these companies offer personal lines property and casualty insurance policies in all 50 states and the District of Columbia. The flagship company in the MetLife Auto & Home group, Metropolitan Property and Casualty Insurance Company, was founded in 1972. It
11100-453: The available colors from nine to over 16 million. The computer-controlled system allows the building to be illuminated in ways that were unable to be done previously with plastic gels. For instance, CNN used the top of the Empire State Building as a scoreboard during the 2012 United States presidential election , using red and blue lights to represent Republican and Democratic electoral votes respectively. Also, on November 26, 2012,
11250-415: The building capacity for 20,000 tenants and 15,000 visitors. The riveted steel frame of the building was originally designed to handle all of the building's gravitational stresses and wind loads . The amount of material used in the building's construction resulted in a very stiff structure when compared to other skyscrapers , with a structural stiffness of 42 pounds per square foot (2.0 kPa) versus
11400-598: The building design. Lamb produced the initial building design in just two weeks using the firm's earlier designs for the Reynolds Building in Winston-Salem, North Carolina , as the basis. He had also been inspired by Raymond Hood 's design for the Daily News Building , which was being constructed at the same time. Concurrently, Lamb's partner Richmond Shreve created "bug diagrams" of
11550-411: The building had its first synchronized light show, using music from recording artist Alicia Keys . Artists such as Eminem and OneRepublic have been featured in later shows, including the building's annual Holiday Music-to-Lights Show. The building's owners adhere to strict standards in using the lights; for instance, they do not use the lights to play advertisements. According to official fact sheets,
11700-471: The building opened thirteen and a half months afterward on May 1, 1931. Despite favorable publicity related to the building's construction, because of the Great Depression and World War II , its owners did not make a profit until the early 1950s. The building's Art Deco architecture , height, and observation decks have made it a popular attraction. Around four million tourists from around
11850-617: The building was lit up to look like Jones's iconic Darth Vader villain from “ Star Wars .” In addition to lightings, the Empire State Building is able to do immersive visual projections on the building's exterior. It partnered with Netflix in May 2022 to celebrate the return of Stranger Things fourth season by projecting the Upside Down onto the Empire State Building. In 2012, the building's four hundred metal halide lamps and floodlights were replaced with 1,200 LED fixtures, increasing
12000-456: The busiest sections in the world". The Empire State Building was to be a typical office building, but Raskob intended to build it "better and in a bigger way", according to architectural writer Donald J. Reynolds. While plans for the Empire State Building were being finalized, an intense competition in New York for the title of " world's tallest building " was underway. 40 Wall Street (then
12150-464: The central shaft is surrounded by a main corridor on all four sides. Per the final specifications of the building, the corridor is surrounded in turn by office space 28 feet (8.5 m) deep, maximizing office space at a time before air conditioning became commonplace. Each of the floors has 210 structural columns that pass through it, which provide structural stability but limits the amount of open space on these floors. The relative dearth of stone in
12300-447: The character's introduction, and an inflatable dragon was placed on the spire in 2024 to promote the TV series House of Dragon . Broadcasting began at the Empire State Building on December 22, 1931, when NBC and RCA began transmitting experimental television broadcasts from a small antenna erected atop the mast, with two separate transmitters for the visual and audio data. They leased
12450-544: The city. The New York Times lauded the site's proximity to mass transit , with the Brooklyn–Manhattan Transit 's 34th Street station and the Hudson and Manhattan Railroad 's 33rd Street terminal one block away, as well as Penn Station two blocks away and Grand Central Terminal nine blocks away at its closest. It also praised the 3,000,000 square feet (280,000 m ) of proposed floor space near "one of
12600-610: The common and preferred stock were based on the closing price of MetLife's common stock on October 29. Upon completion of the purchase, MetLife became a leading competitor in Japan, the world's second-largest life insurance market, and moved into a top 5 market position in many high growth emerging markets in Central and Eastern Europe, such as Romania , the Middle East and Latin America. The deal added 20 million customers to MetLife's 70 million and according to Barron's more than doubled
12750-432: The company vary in terms of eligibility and the provided coverage. For groups, MetLife offers short term disability insurance and long term disability insurance. Short term disability insurance is structured to replace a portion of an individual's income during the initial weeks of a disabling illness or accident. Long term disability Insurance serves to replace a portion of an individual's income during an extended period of
12900-480: The country's bicentennial that July. After the bicentennial, Helmsley retained the new lights due to the reduced maintenance cost, about $ 116 a year. Since October 12, 1977, the spire has been lit in colors chosen to match seasonal events and holidays. Organizations are allowed to make requests through the building's website. The building is also lit in the colors of New York-based sports teams on nights when they host games: for example, orange, blue, and white for
13050-586: The duration and amount of coverage available and whether a medical exam is required for coverage. The company also offers group life insurance, provided through employers, which consists of term life, permanent life, and accidental death and dismemberment coverage. MetLife is the largest life insurer in the United States, based on life insurance in-force. MetLife offers group dental benefit plans for individuals, employees, retirees and their families and provides dental plan administration for over 20 million people. Plans include MetLife's Preferred Dentist Program (PPO) and
13200-464: The elevator core, crossed by stainless steel-and-glass-enclosed bridges at the mezzanine floor. Until the 1960s, an Art Deco mural, inspired by both the sky and the Machine Age , was installed in the lobby ceilings. Subsequent damage to these murals, designed by artist Leif Neandross, resulted in reproductions being installed. Renovations to the lobby in 2009, such as replacing the clock over
13350-482: The extension. On November 18, 1929, Smith acquired a lot at 27–31 West 33rd Street, adding 75 feet (23 m) to the width of the proposed office building's site. Two days later, Smith announced the updated plans for the skyscraper. The plans included an observation deck on the 86th-floor roof at a height of 1,050 feet (320 m), higher than the Chrysler's 71st-floor observation deck. The 1,050-foot Empire State Building would only be 4 feet (1.2 m) taller than
13500-415: The facade are largely geometric, in contrast with earlier buildings, whose decorations often were intended to represent a specific narrative. The main entrance, composed of three sets of metal doors, is at the center of the facade's Fifth Avenue elevation , flanked by molded piers that are topped with eagles. Above the main entrance is a transom , a triple-height transom window with geometric patterns, and
13650-431: The firm, having overriding material influence over the held company's operations, even if no formal full takeover has been enacted. Once a full takeover or purchase is enacted, the held company is seen to have ceased to operate as an independent entity but to have become a tending subsidiary of the purchasing company, which, in turn, becomes the parent company of the subsidiary. (A holding below 50% could be sufficient to give
13800-458: The first body) is a subsidiary of another body corporate if, and only if: Toronto-based lawyer Michael Finley has stated, "The emerging trend that has seen international plaintiffs permitted to proceed with claims against Canadian parent companies for the allegedly wrongful activity of their foreign subsidiaries means that the corporate veil is no longer a silver bullet to the heart of a plaintiff's case." The parent subsidiary company relationship
13950-605: The five largest bank holding companies in the finance sector, as of December 2013 , based on total assets. The Public Utility Holding Company Act of 1935 caused many energy companies to divest their subsidiary businesses. Between 1938 and 1958 the number of holding companies declined from 216 to 18. An energy law passed in 2005 removed the 1935 requirements, and has led to mergers and holding company formation among power marketing and power brokering companies. In US broadcasting , many major media conglomerates have purchased smaller broadcasters outright, but have not changed
14100-455: The following requirements are met: A parent company is a company that owns enough voting power in another firm (or subsidiary ) to control management and operations by influencing or electing its board of directors . The definition of a parent company differs from jurisdiction to jurisdiction, with the definition normally being defined by way of laws dealing with companies in that jurisdiction. When an existing company establishes
14250-421: The golden letters "Empire State" above the fifth-floor windows. There are two entrances each on 33rd and 34th streets, with modernistic, stainless steel canopies projecting from the entrances on 33rd and 34th streets there. Above the secondary entrances are triple windows, less elaborate in design than those on Fifth Avenue. The storefronts on the first floor contain aluminum-framed doors and windows within
14400-668: The height and length of other structures. A symbol of New York City, the building has been named as one of the Seven Wonders of the Modern World by the American Society of Civil Engineers . It was ranked first on the American Institute of Architects ' List of America's Favorite Architecture in 2007. Additionally, the Empire State Building and its ground-floor interior were designated city landmarks by
14550-550: The hotel lease was purchased by Thomas Coleman du Pont . By the 1920s, the old Waldorf–Astoria was becoming dated and the elegant social life of New York had moved much farther north. Additionally, many stores had opened on Fifth Avenue north of 34th Street. The Astor family decided to build a replacement hotel on Park Avenue and sold the hotel to Bethlehem Engineering Corporation in 1928 for $ 14–16 million. The hotel closed shortly thereafter on May 3, 1929. Bethlehem Engineering Corporation originally intended to build
14700-412: The inclusion of which may have been influenced by the design of the contemporary Daily News Building . The windows in each bay are separated by vertical nickel-chrome steel mullions and connected by horizontal aluminum spandrels between each floor. The windows are placed within stainless-steel frames, which saved money by eliminating the need to apply a stone finish around the windows. In addition,
14850-525: The information desk in the Fifth Avenue lobby with an anemometer and installing two chandeliers intended to be part of the building when it originally opened, revived much of its original grandeur. The north corridor contained eight illuminated panels created in 1963 by Roy Sparkia and Renée Nemorov, in time for the 1964 World's Fair , depicting the building as the Eighth Wonder of the World alongside
15000-482: The international leader life-insurance business, American Life Insurance Company (Alico), from American International Group (AIG). MetLife, which completed the deal on November 1, 2010, paid approximately $ 7.2 billion in cash and $ 9.0 billion in MetLife equity and other securities. The securities portion of the deal consisted of 78.2 million shares of MetLife common stock, 6.9 million shares of contingent convertible preferred stock and 40 million equity units. The values of
15150-509: The largest United States corporations by total revenue. On January 6, 1915, MetLife completed the mutualization process, changing from a stock life insurance company owned by individuals to a mutual company operating without external shareholders and for the benefit of policyholders. After 85 years as a mutual company, MetLife demutualized into a publicly traded company with an initial public offering in 2000. Through its subsidiaries and affiliates, MetLife holds leading market positions in
15300-470: The largest unit, accounting for 53% of 2009 revenue. By 2015, a division referred to as "Americas" had emerged. As of May 2019, MetLife's chief executive officer was Michel A. Khalaf and its non-executive chairman of the board was Glenn Hubbard . MetLife has a compensation committee which establishes remuneration for the company's senior executives, and emphasizes variable performance-based compensation over fixed pay rates. As of December 2023,
15450-562: The life insurance business. A severe business depression that began with the Panic of 1873 forced the company to contract, until it reached its lowest point in the late 1870s. After observing the insurance industry in Great Britain in 1879, MetLife President Joseph F. Knapp brought “industrial” or “workingmen's” insurance programs to the United States – insurance issued in small amounts on which premiums were collected weekly or monthly at
15600-410: The major and sudden Wall Street Crash , marking the beginning of the decade-long Great Depression . Despite the economic downturn, Raskob refused to cancel the project because of the progress that had been made up to that point. Neither Raskob, who had ceased speculation in the stock market the previous year, nor Smith, who had no stock investments, suffered financially in the crash. However, most of
15750-547: The mast contains four rectangular tiers topped by a cylindrical shaft with a conical pinnacle. On the 102nd floor (formerly the 101st floor), there is a door with stairs ascending to the 103rd floor (formerly the 102nd). This was built as a disembarkation floor for airships tethered to the building's spire, and has a circular balcony outside. It is now an access point to reach the spire for maintenance. The room now contains electrical equipment, but celebrities and dignitaries may also be given permission to take pictures there. Above
15900-480: The mid 1980s, according to chief marketing officer Esther Lee, was intended "to make our company more friendly and approachable during a time when insurance companies were seen as cold and distant." MetLife licensed Snoopy and other Peanuts characters for promotional purposes from the Iconix Brand Group , which owns the promotional rights to the works of Charles M. Schulz . In 2010, Iconix formed
16050-501: The new company in this process. MetLife was accused of breaching federal securities laws by misrepresenting and omitting information in materials given to policyholders during this process, resulting in years of litigation ending with a $ 50 million settlement in 2009. From 2004 to 2011, MetLife continued to hold its position as the largest life insurer in the United States. The company had $ 2.5 trillion in policies written, $ 350 billion in assets under management, over 12 million customers in
16200-564: The nine stations who were broadcasting from the Empire State Building were leasing their broadcast space until 1984, most of these stations moved to the World Trade Center as soon as it was completed in 1971. The broadcasters obtained a court order stipulating that the Port Authority had to build a mast and transmission equipment in the North Tower , as well as pay the broadcasters' leases in the Empire State Building until 1984. Only
16350-465: The north and south are storefronts, which are flanked by tubes of dark rounded marble and topped by a vertical band of grooves set into the marble. Until the 1960s, there was a Longchamps restaurant next to the lobby, with six oval murals designed by Winold Reiss ; these murals were placed in storage when the Longchamps closed. The western ends of the north and south walls include escalators to
16500-427: The observation deck. In 2016, New York City's official tourism website made note of only three lines: the security check line, the ticket purchase line, and the second elevator line. Following renovations completed in 2019, designed to streamline queuing and reduce wait times, guests enter from a single entrance on 34th Street, where they make their way through 10,000-square-foot (930 m ) exhibits on their way up to
16650-408: The observatories. Guests were offered a variety of ticket packages, including a package that enables them to skip the lines throughout the duration of their stay. The Empire State Building garners significant revenue from ticket sales for its observation decks, making more money from ticket sales than it does from renting office space during some years. In early 1994, a motion simulator attraction
16800-432: The old Waldorf–Astoria began on October 1, 1929. Stripping the building down was an arduous process, as the hotel had been constructed using more rigid material than earlier buildings had been. Furthermore, the old hotel's granite, wood chips, and "'precious' metals such as lead, brass, and zinc" were not in high demand, resulting in issues with disposal. Most of the wood was deposited into a woodpile on nearby 30th Street or
16950-484: The other specifications he was given for the final, approved plan: The program was short enough—a fixed budget, no space more than 28 feet from window to corridor, as many stories of such space as possible, an exterior of limestone, and completion date of [May 1], 1931, which meant a year and six months from the beginning of sketches. The contractors were Starrett Brothers and Eken , which were composed of Paul and William A. Starrett and Andrew J. Eken . The project
17100-610: The percentage of operating profits that MetLife gets abroad to 40%. In India MetLife has an affiliate company India Insurance Company Limited (MetLife) which has operated in India since 2001. This company has its headquarters in Bangalore and Gurgaon and was jointly owned by MetLife and a few local Indian financial companies. In 2012 an agreement was made with local Indian bank, the Punjab National Bank to establish
17250-581: The policyholder's home. By 1880, sales had exceeded a quarter million of such policies, resulting in nearly $ 1 million in revenue from premiums. In 1909, MetLife had become the nation's largest life insurer in the United States, as measured by life insurance in force (the total value of life insurance policies issued). In 1890, the Metropolitan Life Insurance Company Building was commissioned to serve as MetLife's home office on 23rd Street in Manhattan. The building
17400-404: The project requirements. The 1916 Zoning Act forced Lamb to design a structure that incorporated setbacks resulting in the lower floors being larger than the upper floors. Consequently, the building was conceived from the top down, giving it a pencil-like shape. The plans were devised within a budget of $ 50 million and a stipulation that the building be ready for occupancy within 18 months of
17550-786: The retail market, in a separate company called Brighthouse Financial , which launched in March 2017. The continuing MetLife company kept naming rights to MetLife Stadium in East Rutherford, New Jersey . The predecessor company to MetLife began in 1863 when a group of New York City businessmen raised $ 100,000 to found the National Union Life and Limb Insurance Company . The company insured Civil War sailors and soldiers against disabilities due to wartime wounds, accidents, and sickness. On March 24, 1868, it became known as Metropolitan Life Insurance Company and shifted its focus to
17700-431: The ride ranging from "great" to "satisfactory" to "corny". The final stage of the building was the installation of a hollow mast, a 158-foot (48 m) steel shaft fitted with elevators and utilities, above the 86th floor. The spire of the Empire State Building was originally intended to serve as a mooring mast for zeppelins and other airships, although the plan was abandoned after high winds made that impossible. At
17850-408: The room where Armstrong's transmitter was located. After some time, the 85th floor became home to RCA's New York television operations initially as experimental station W2XBS channel 1 then, from 1941, as commercial station WNBT channel 1 (now WNBC channel 4). NBC's FM station, W2XDG, began transmitting from the antenna in 1940. NBC retained exclusive use of the top of the building until 1950 when
18000-565: The site since the mid-1820s. In 1893, John Jacob Astor Sr.'s grandson William Waldorf Astor opened the Waldorf Hotel on the site. Four years later, his cousin, John Jacob Astor IV , opened the 16-story Astoria Hotel on an adjacent site. The two portions of the Waldorf–Astoria hotel had 1,300 bedrooms, making it the largest hotel in the world at the time. After the death of its founding proprietor, George Boldt , in early 1918,
18150-405: The space in the observatory overall. An observatory on the 80th floor, opened in 2019, includes various exhibits as well as a mural of the skyline drawn by British artist Stephen Wiltshire . An interactive multimedia museum, with multiple hands-on exhibitions about the building's history, was added during this project. The design of the 10,000 sq ft (930 m ) Observatory Experience
18300-600: The special regulations reserved for financial companies and organizations deemed "systemically important," or "too big to fail". MetLife announced in January 2015 that it would file a lawsuit with the U.S. District Court for the District of Columbia to overturn the federal regulators' decision, thus becoming the first nonbank to challenge such a decision. Three other nonbank companies have been designated as "systemically important": AIG , General Electric and Prudential . MetLife continued to litigate this issue as of 2015, with
18450-453: The start of construction. Design drawings and construction were concurrent. Steel drawings were completed in mid-January 1930, when foundations were underway. The original plan of the building was 50 stories, but was later increased to 60 and then 80 stories. Height restrictions were placed on nearby buildings to ensure that the top fifty floors of the planned 80-story, 1,000-foot-tall (300 m) building would have unobstructed views of
18600-609: The stations in the Empire State Building became a major issue with the construction of the World Trade Center's Twin Towers in the late 1960s, and early 1970s. The greater height of the Twin Towers would reflect radio waves broadcast from the Empire State Building, eventually resulting in some broadcasters relocating to the newer towers instead of suing the developer, the Port Authority of New York and New Jersey . Even though
18750-403: The tallest building in the world by far, even without the antenna. The addition of the dirigible station meant that another floor, the 86th, would have to be built below the crown; however, unlike the Chrysler's spire, the Empire State's mast would serve a practical purpose. A revised plan was announced to the public in late December 1929, just before the start of construction. The final plan
18900-459: The time of the skyscraper's construction, their practical speed was limited to 700 feet per minute (213 m/min) per city law, but this limit was removed shortly after the building opened. Additional elevators connect the 80th floor to the six floors above it, as the six extra floors were built after the original 80 stories were approved. The elevators were mechanically operated until 2011, when they were replaced with automatic elevators during
19050-503: The tip of its spire and the slogan, "The Light That Never Fails") featured prominently in MetLife's advertising. In 1905, MetLife lost a legal case, Pavesich v. New England Life Insurance Company , where they attempted to use an image of another person for promotion but this was ruled a breach of privacy and libelous: this case became a standardly cited case on privacy in US law. By 1930, MetLife insured one of five men, women, and children in
19200-432: The top of each doorway is a bronze motif depicting one of three "crafts or industries" used in the building's construction—Electricity, Masonry, and Heating. The three-story-high space runs parallel to 33rd and 34th Streets. The lobby contains two tiers of marble: a wainscoting of darker marble, topped by lighter marble. There is a pattern of zigzagging terrazzo tiles on the lobby floor, which leads from east to west. To
19350-484: The top of the Empire State Building. In a report that Congress commissioned about the transition from analog television to digital television , it was stated that the placement of broadcast stations in the Empire State Building was considered "problematic" due to interference from nearby buildings. In comparison, the congressional report stated that the former Twin Towers had very few buildings of comparable height nearby thus signals suffered little interference. In 2003,
19500-433: The top would be a conical roof and the 102nd-floor docking station. Inside, the elevators would ascend 167 feet (51 m) from the 86th floor ticket offices to a 33-foot-wide (10 m) 101st-floor waiting room. From there, stairs would lead to the 102nd floor, where passengers would enter the airships. The airships would have been moored to the spire at the equivalent of the building's 106th floor. As constructed,
19650-479: The traditional seven. The building's owners installed a series of paintings by the New York artist Kysa Johnson in the concourse level. Johnson later filed a federal lawsuit, in January 2014, under the Visual Artists Rights Act alleging the negligent destruction of the paintings and damage to her reputation as an artist. As part of the building's 2010 renovation, Denise Amses commissioned
19800-415: The upper stories, allowing sunlight to illuminate the interiors of the top floors while also positioning these floors away from the noisy streets below. The setbacks are located at the 21st, 25th, 30th, 72nd, 81st, and 85th stories. The setbacks correspond to the tops of elevator shafts, allowing interior spaces to be at most 28 feet (8.5 m) deep (see § Interior ). The setbacks were mandated by
19950-514: The use of aluminum spandrels obviated the need for cross- bonding , which would have been required if stone had been used instead. The building was originally equipped with white searchlights at the top. They were first used in November 1932 when they lit up to signal Roosevelt's victory over Hoover in the presidential election of that year . These were later swapped for four "Freedom Lights" in 1956. In February 1964, flood lights were added on
20100-499: The usual taxes on dividends, as they are legitimate and ordinary dividends to these shareholders. Sometimes, a company intended to be a pure holding company identifies itself as such by adding "Holding" or "Holdings" to its name. The parent company–subsidiary company relationship is defined by Part 1.2, Division 6, Section 46 of the Corporations Act 2001 (Cth) , which states: A body corporate (in this section called
20250-401: The world annually visit the building's 86th- and 102nd-floor observatories; an additional indoor observatory on the 80th floor opened in 2019. The Empire State Building is an international cultural icon : it has been featured in more than 250 television series and films since the film King Kong was released in 1933. The building's size has been used as a standard of reference to describe
20400-463: Was topped out in 1970 ; following the September 11 attacks in 2001, the Empire State Building was New York City's tallest building until it was surpassed in 2012 by One World Trade Center . As of 2024 , the building is the seventh-tallest building in New York City , the ninth-tallest completed skyscraper in the United States , and the 57th-tallest completed skyscraper in the world . The site of
20550-419: Was built on the 2nd floor, as a complement to the observation deck. The original cinematic presentation lasted approximately 25 minutes, while the simulation was about eight minutes. The ride had two incarnations. The original version, which ran from 1994 until around 2002, featured James Doohan , Star Trek's Scotty , as the airplane's pilot who humorously tried to keep the flight under control during
20700-569: Was burned in a swamp elsewhere. Much of the other materials that made up the old hotel, including the granite and bronze, were dumped into the Atlantic Ocean near Sandy Hook , New Jersey. By the time the hotel's demolition started, Raskob had secured the required funding for the construction of the building. The plan was to start construction later that year but, on October 24, the New York Stock Exchange experienced
20850-506: Was completed in stages through 1905. A clock tower was commissioned adjacent to the home office in 1907, and when completed two years later, the building was the world's tallest until 1913. The home office complex, which came to include the later art deco Metropolitan Life North Building , remained the company's headquarters until 2005. For many years, an illustration of the Metropolitan Life Tower (with light emanating from
21000-471: Was designed by Shreve, Lamb & Harmon and built from 1930 to 1931. Its name is derived from " Empire State ", the nickname of the state of New York . The building has a roof height of 1,250 feet (380 m) and stands a total of 1,454 feet (443.2 m) tall, including its antenna . The Empire State Building was the world's tallest building until the first tower of the World Trade Center
21150-424: Was financed primarily by Raskob and Pierre du Pont, while James Farley 's General Builders Supply Corporation supplied the building materials. John W. Bowser was the construction superintendent of the project, and the structural engineer of the building was Homer G. Balcom. The tight completion schedule necessitated the commencement of construction even though the design had yet to be finalized. Demolition of
21300-547: Was formerly known as MetLife Insurance Company of Connecticut, and prior to this as Travelers Insurance Company . MetLife Bank was sold to GE Capital in 2013, and MetLife exited the banking business. Metlife in partnership with Tishman Realty & Construction co-owns the Walt Disney World Swan and Dolphin resort in Lake Buena Vista, Florida . The land on which the hotels are located on
21450-406: Was inspired by the plans and designs of the original Empire State Building. According to a 2010 report by Concierge.com , the five lines to enter the observation decks are "as legendary as the building itself". Concierge.com stated that there were five lines: the sidewalk line, the lobby elevator line, the ticket purchase line, the second elevator line, and the line to get off the elevator and onto
21600-474: Was later sold to Cumulus Media ). In determining caps to prevent excessive concentration of media ownership , all of these are attributed to the parent company, as are leased stations , as a matter of broadcast regulation . In the United States, a personal holding company is defined in section 542 of the Internal Revenue Code . A corporation is a personal holding company if both of
21750-549: Was not successful. In September 2014, the United States government observed the 2010 Dodd-Frank financial reform law by proposing the application of an official label to MetLife as " systemically important " to the American economy. If implemented, MetLife would be subject to different sets of rules and regulations, with increased oversight from the Federal Reserve . The company appealed this proposal in November 2014. In December 2014, federal regulators decided that MetLife required
21900-413: Was sketched within two hours, the night before the plan was supposed to be presented to the site's owners in January 1930. The New York Times reported that the spire was facing some "technical problems", but they were "no greater than might be expected under such a novel plan." By this time the blueprints for the building had gone through up to fifteen versions before they were approved. Lamb described
22050-433: Was subject to stricter financial regulation. To escape that level of regulation, MetLife announced the sale of its banking unit to GE Capital . On November 2, 2012, MetLife said it was selling its US$ 70,000,000,000 mortgage servicing business to JPMorgan Chase for an undisclosed amount. Both sales were part of its strategy to focus on the insurance side of its business. The attempt to escape " too big to fail " regulation
22200-512: Was the first company to issue a group annuity contract. More recently in 2004, it was the first insurer to introduce a longevity insurance product. As of December 31, 2009, MetLife globally managed group annuity assets of $ 60 billion with $ 34 billion of transferred pension liabilities and provided benefit payments to over 600,000 annuitants per month. In 2019, MetLife acquired PetFirst Healthcare, renaming it to MetLife Pet Insurance Solutions. The Pet Innovation Award named it "Pet Insurance of
22350-589: Was the first national insurer in the United States to offer identity-theft resolution services at no extra premium and as of 2012 continues to do so today in most United States states. MetLife's products also include critical illness insurance . Financial services include fee-based financial planning, retirement planning, wealth management, 529 Plans, banking, and commercial and residential mortgages . The company also provides retirement plans and other financial services to healthcare, education, and not-for-profit organizations. The MetLife Center for Special Needs Planning
22500-518: Was the largest single private contributor to the Allied cause. During the post-war era, the company expanded its suburban presence, decentralized operations, and refocused its career agency system to serve all market segments. It also began to market group insurance products to employers and institutions. By 1979, operations were segmented into four primary businesses: group insurance, personal insurance, pensions, and investments. In 1981 MetLife purchased
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