Times Square (Part II)

In 1992 the Times Square Alliance (formerly the Times Square Business Improvement District, or "BID" for short), a coalition of businesses dedicated to improving the quality of commerce and cleanliness in the district, started operations in the area. Times Square now boasts attractions as a major TV studio for ABC, where Good Morning America is broadcast live, elaborate Toys R Us, Virgin Records and Hershey's stores, as well as restaurants such as Ruby Foo's (Chinese food), the Bubba Gump Shrimp Company (seafood) and Carmine's (Italian) along with a number of multiplex movie theaters. It has also attracted a number of large financial, publishing, and media firms to set up their headquarters in the area. A larger police presence in Times Square has improved the safety of the area. While the revitalized region is undoubtedly safer and more pleasant, some complain that the area has lost its spark and is now a thoroughly sanitized, "Disneyfied" version of its former self.

A notable example of the signage is the NASDAQ sign at the NASDAQ MarketSite at 4 Times Square on 43rd Street. Unveiled in January 2000, it cost $37 million to build. The sign is 120 feet (36.6m) high. NASDAQ pays over $2 million a year to lease the space for this sign. This is actually considered a good deal in advertising as the number of "impressions" the sign makes far exceeds those generated by other ad forms.

In 2002, NYC's outgoing mayor, Rudolph Giuliani, gave the oath of office to the city's next mayor, Michael Bloomberg, in Times Square after midnight on January 1 as part of the 2001-2002 New Year's celebration. Approximately 500,000 revelers attended the fete. Security was high following the September 11, 2001 attacks, with over 7,000 New York City police on duty in the Square (twice the number for an ordinary year).