Newport Tower (Jersey City) World Financial Center in Manhattan. The Newport Tower is a modern-style building. It is similar in appearance to the world-famous Willis Tower, (formerly known as "Sears Tower") in Chicago, Illinois. The tower received a facelift in the summer of 2005; wooden panels have been installed on the lobby walls, and LCD advertisement screens added to the elevators. The colonnade in front of the building has been removed in July 2008. A new elevator management system, Schindler ID, was installed in the building in September 2009. On October 19, 2011, Multi-Employer Property Trust purchased the Newport Tower from Brookfield Properties for
Sears history of the old company, celebrating the original 1892 incorporation, rather than the 1906 revision, as the start of the company. Sears' successful 1906 initial public offering (IPO) marks the first major retail IPO in American financial history and represented a coming of age, financially, of the consumer sector. The company traded under the ticker symbol S, and was a component of the Dow Jones Industrial Average from 1924 to 1999. In 1906, Sears opened its catalog plant and the Sears Merchandise Building Tower in Chicago's West Side. The building was the anchor of what would become the massive Sears,