Neaby Quasar?

A recent conference paper has revealed a quasar with a huge redshift, normally taken to indicate great distance and age, in the middle of a nearby spiral galaxy. If indeed the quasar is located nearby, as they assert, that will certainly have some major repercussions to established theory, I would think. I had thought that quasars were believed to be the most distant objects in the universe, because their high redshifts indicate high receeding speed, and thus distance. Will this affect estimates of elapsed time since the big bang? Maybe this is determined throught the cosmic microwave background, I'm not sure.

Maybe the quasar is moving away from us at high speed, but for reasons other than that which had been previously assumed. Apparently there is some correlation between quasars and other galaxy locations, so it will be interesting to see what comes of this.