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Larry Silverstein and “pull it”

The lease, the insurance and the remark about Building 7

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“Maybe the smartest thing to do is pull it”

The remark and the two readings.

In the 2002 PBS special America Rebuilds, Silverstein said: “I remember getting a call from the, er, fire department commander, telling me that they were not sure they were gonna be able to contain the fire, and I said, ‘We’ve had such terrible loss of life, maybe the smartest thing to do is pull it.’ And they made that decision to pull and we watched the building collapse.” [1]

Theorists read “pull it” as demolition slang. In a September 2005 statement, his spokesman Dara McQuillan said the fire commander had told Silverstein firefighters were inside trying to contain the fires, that Silverstein said the most important thing was their safety, “including, if necessary, to have them withdraw,” and that later the commander ordered them out. [1]

Daniel Nigro, who took command of the fire department that day, told the BBC that the owner had no say: “When we are in charge of a building, we are in charge and the decision will be the fire chiefs and his alone.” [3]

Even taken the other way, the remark does not fit a demolition: preparing a 47-story building takes weeks, and NIST found no blast. [2]

What we can’t tell you. The PBS interview is not fully transcribed in any primary source we could open; the quotation comes from Skeptic’s and the BBC’s transcriptions, which agree.

The sources

  1. Skeptic magazine: 9/11 conspiracy theories, the truth movement in perspective ↗

    A long skeptical survey of the main claims.

  2. NIST: Questions and answers about the NIST WTC 7 investigation ↗

    NIST’s answers on the 2.25 seconds of free fall, the 130-decibel blast it says was not heard, diesel fuel and thermite.

  3. BBC News, 4 July 2008: “Q&A: The collapse of Tower 7” (The Conspiracy Files, archived copy) ↗

    The BBC’s 2008 summary of the WTC 7 arguments, quoting Richard Gage, Steven Jones, Danny Jowenko, Mark Loizeaux, Gene Corley, Daniel Nigro and Barry Jennings.

The lease and the insurance

Did he profit?

On 24 July 2001 the Port Authority signed 99-year net leases on One, Two, Four and Five World Trade Center with companies set up by Silverstein Properties, and leased the retail space to Westfield. [1]

After years of litigation, courts in 2004 set the maximum award at $4.68 billion. A May 2007 settlement, in which seven holdout insurers agreed to pay $2 billion more ($870 million to the Port Authority for the Freedom Tower and $1.13 billion to Silverstein), brought the total paid by the 23 original insurers to $4.55 billion. Under the redevelopment plan, Silverstein entities were to build three of the five new office towers. [2]

Building 7 was not part of the 2001 deal. The BBC reported that its insurance dated from 1987, when it was built. [3]

What we can’t tell you. Whether Silverstein came out ahead over the full life of the lease depends on figures not public in any source we verified.

The sources

  1. Port Authority of New York and New Jersey: 2006 financial statements ↗

    The July 2001 net lease of the towers to Silverstein interests.

  2. New York State Comptroller, July 2007: Review of the Financial Plan of the City of New York (report 3-2008) ↗

    Includes the May 2007 settlement bringing the World Trade Center insurance payout to $4.55 billion.

  3. BBC News, 4 July 2008: “Q&A: The collapse of Tower 7” (The Conspiracy Files, archived copy) ↗

    The BBC’s 2008 summary of the WTC 7 arguments, quoting Richard Gage, Steven Jones, Danny Jowenko, Mark Loizeaux, Gene Corley, Daniel Nigro and Barry Jennings.

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