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NY Hudson Yards Back Yard Deal – Disgrace of NY

[preamble]
Another disgrace!
City is broke, so we are told, so we pay ridiculous tolls, massive taxes, reduced services, and a punitive parking meters that are linked directly to our wallet – YET we have money to pay for this.

Something is wrong here – the bubble is at its limit – it will break – we cannot tolerate this anymore – the level of corruption is beyond control.[backtopost]

Mayor Bloomberg (center) is flanked by Related Companies’ Chairman Stephen Ross (left) and City Council Speaker Christine Quinn during a groundbreaking ceremony for the Hudson Yards at 30th St. between 10th and 11th Aves. on Tuesday.

	Rendering of some of the new Hudson Yard buildings.

Rendering of some of the new Hudson Yards buildings.

Private developers were supposed to pay for the grand Hudson Yards project on Manhattan’s far West Side, but right now taxpayers are being made to finance an ever-growing bill for the development.

The Bloomberg administration paid $234 million during fiscal year 2012 to a city-created development group that oversees the huge new commercial and residential complex, one of the mayor’s most ambitious projects.

City Hall quietly earmarked most of that money — $155 million — to the Hudson Yards Infrastructure Corp. in late June, because the group has not been generating enough revenue to pay the annual interest due on $3 billion in bonds it issued.

Hudson Yards Corp. floated those $3 billion in bonds to pay for an extension of the MTA’s 7 subway line to 34th St. and 11th Ave., plus a new boulevard that will run between 10th and 11th Ave. Initial plans by Bloomberg’s aides called for private developers to pay enough money in fees, air rights, and taxes to Hudson Yards Corp. to pay back the $3 billion in bonds.

HUDSON YARDS RENDERING

Rendering of the completed Hudson Yards project on the far West Side of Manhattan.

But when the City Council approved that plan in 2005, the Council also agreed that if revenues from private developers were not sufficient to pay debt service in the early years, the city would make up the shortfall.

In fiscal 2012 alone, six years after the project started, the city transferred $79 million to Hudson Yards Corp. from the general budget to make up for anemic revenues from developers. That’s nearly double the $42 million it paid in 2011.

Then in June, in the midst of final budget negotiations with the Council, Bloomberg aides added another $155 million to help Hudson Yards Corp. make up for even bigger revenue shortfalls expected for both 2013 and 2014, a city official with knowledge of the transaction said.

“Consistent with the city’s general approach to managing its budget and debt service, the city decided to make a grant to HYIC at the end of FY (fiscal year) 2012 to pre-fund future (interest) costs,” David Farber, spokesman for Hudson Yards Infrastructure Corp., or HYIC, said.

And that’s not all the money the public is forking out.

This column reported last December that an analysis by the city’s Independent Budget Office found nearly $160 million of additional “infrastructure projects” related to Hudson Yards that Bloomberg’s people have buried in the budgets of other agencies.

All the rosy predictions have not materialized of a new commercial district springing up in the Hudson Yards area once a new subway got underway.

Maybe it will in 50 years, when most of us are dead.

As you might expect, none of this was mentioned at the huge and happy groundbreaking ceremony that Bloomberg and other politicians attended Tuesday for the first office building to be built in the Hudson Yards area.

Bloomberg praised Stephen Ross’ Related Companies for leading the way in “developing Manhattan’s last frontier,” and all the press ran futuristic pictures of the new district. As for the cost to you, don’t dare ask.

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Failing Hospitals taking Federal Money need to FIRE their failing Overpaid CEO’s and board

If they cannot make payroll or pay their bills, then they do not deserve to be in business taking our money.

Perhaps they all need to be paid commission – hence they get PAID FOR PERFORMANCE!

And please – if the hospital closes no one will be the wiser – people will simple goto the next hospital – many hospitals have closed (Victory Memorial in Brooklyn, St Vincents in NY to name 2) and all the pundits cried about how care will not be delivered and people will die – blah blah blah – what actually happened is that the Unions lost jobs for their people, the lawyers made 30million + in closing Victory alone and people did not die – they simply went to another hospital.

We as Americans and as a people are very resilient and will make due with what is given us without problems. Just look how we keep absorbing the insane ridiculous criminal prices the MTA keep charging us!

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NY School system – a 44 Billion a Year Failure

Graduating people that cannot read or write
Failing Grammar Schools
Failing High Schools

54Billion a Year spent on 3 million Children that’s $18 million a year on each student – 18 million dollars a year and we have a failing system.

Are we kidding here? Most if not all of these graduates will NEVER make this much in their lifetime.

Whats wrong here?

Unions!!!!!!!

When this folly ends

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Brooklyn Hospital Interfaith declares bankrupcy – Goodby, Farewell – you wont be missed!

[preamble]
Failure, failure, failure – all we do is reward failure – Brooklyn Hospital, Interfaith and other hospitals must either close or we must remove the board and management. They have been failing for years and we, the people, have been throwing them bailout money for years – enough is enough. Poorly run, poorly manages strangles by the unions and being raped by their own boards, these hospitals are always under 50% full. In any normal business environment they would have closed long ago – like Hostess, who had to close because the Unions though they were so powerful, market competition and changing tastes combined with poor management, the market drove them to close their doors. No one bailed them out, no one gave them money to continue to operate in the same failing fashion. So why do we tolerate hospitals who cannot manage themselves and generate a profit or break even? Why are not the board and ceo’s held to the same standards as businesses? Why do we continue to give failing hospitals money and yet have them keep their failing management? Why Why Why?

The below article has a excerpt from the board stating a merger without state aid would close Interfaith –   Sorry Mt Boratz, you are part of the problem! How dare you request money form me the people and yet not change your failing corrupt ways.

We cannot tolerate Business As usual – We are daily told healthcare is so expensive that its killing our country – we have Obama care which taxes us into death to “save” healthcare – YET we allow hospitals to rob, steal and pilfer billions of dollars – I say to all Americans – end the corruption – just cleaning up Brooklyn and Ny hospitals will save Billions of tax dollars and server better more efficient healthcare – then we don’t need obama care!

The time has come – good by Interfaith – we are not sorry to see you go and we will not miss you – yo will be like Victory memorial in Brooklyn and St Vincents in the city – empty failed testaments to the strangle hold of unions and Board corruption. When you go you wont be missed at all – that’s the hard truth and realty no matter what you say.[backtopost]

Leery of a Merger, a Hospital in Brooklyn Plans to Declare Bankruptcy

By

 

A financially troubled hospital serving a largely African-American and Caribbean niche of central Brooklyn is planning to declare bankruptcy this week, hospital officials said on Sunday, raising concerns that New York State may force it to close or merge with another institution.

Christopher Gregory/The New York Times

Interfaith Medical Center serves Bedford-Stuyvesant and Crown Heights.

Ozier Muhammad/The New York Times

Nathan M. Barotz, the chairman of Interfaith’s board of trustees, said a merger with another hospital without a guarantee of state aid would be tantamount to closing Interfaith.

The hospital, Interfaith Medical Center, serving Bedford-Stuyvesant and Crown Heights, has been in and out of financial trouble for decades, with its survival dependent on infusions of state aid. In difficult economic times, however, the Cuomo administration has not indicated a willingness to continue bailing out failing hospitals.

James Introne, Gov. Andrew M. Cuomo’s deputy secretary for health, when asked on Friday about the possibility of an Interfaith bankruptcy filing, said he was not aware of it, but he said, “That’s their decision, not ours.”

A year ago, a Brooklyn work group of the governor’s Medicaid Redesign Team, which was created to find savings in the hospital and health industry, recommended that Interfaith merge with two other Brooklyn hospitals, Wyckoff Heights Medical Center and Brooklyn Hospital. It suggested that Brooklyn Hospital, judged to be the most financially stable of the three, should take the lead.

Interfaith officials said on Sunday that they had no choice but to file for Chapter 11 bankruptcy reorganization, given the hospital’s precarious financial situation.

But they said the hospital had a better chance of surviving in the long term if the state would guarantee it about $20 million in what is known as debtor-in-possession financing to underwrite its operating costs during the reorganization.

The officials said the state Dormitory Authority, which holds $130 million of the hospital’s debt, had refused to provide the financing unless Interfaith would first sign an agreement to merge with Brooklyn Hospital.

But the Interfaith officials said that granting Brooklyn Hospital control without the state’s first promising the financing needed to keep the hospital going would be tantamount to a covert plan to close the hospital in a year and a half or so.

“That is turning over the keys to Brooklyn and we have no further say in the future of this hospital and, more importantly, whether it will stay open or not and whether it will continue to serve the community,” said Nathan M. Barotz, the chairman of Interfaith’s board of trustees.

Mr. Introne denied that that was the case. “My understanding is that Chapter 11 has to be part of this process given the liabilities associated with the organization,” he said. “But I’ve also been advised that it can be constructed in a way that would allow a successor organization that has been previously planned.”

The hospital, at 1545 Atlantic Avenue, is so poor that it cannot afford malpractice insurance. In August, hospital administrators said that it was running out of cash and that they feared they would soon be unable to meet its payroll.

Wyckoff hospital dropped out of the merger plan this year, with trustees saying they feared that the merger would lead to a severe shrinking or a closing of the hospital. Wyckoff’s new chief executive, Ramon Rodriguez, had served on the Brooklyn work group that recommended the three-way merger, but he later turned against it.

In letters to state officials, Mr. Barotz has said a 2010 cut in Medicaid rates cost Interfaith 40 percent of its inpatient revenue and precipitated its current crisis.

The hospital has about 11,000 inpatient visits a year, and 250,000 outpatient visits, according to the letter. It has 1,516 full-time employees, many of whom live in central Brooklyn.

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The State of the Union

mcdonalds is being forced to unionize and pay idiot workers $15 per hour – would yo ulike some fries with thaaat?

hurricane sandy is being blamed for people with a cough – seems that clean up their homes gave them illnesses – hence we will have to pay for them

we have gone from a society and country of opportunity and hard work – to entitlement

who voted for this president?

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Pennsylvania high school hockey league bans national anthem to save money on ice time

[preamble]
disgraceful but expected. The minority chipping away at the majority. This is the new America created by Obama. A country without national pride. Disgraceful. Christmas and Chanukah, thanksgiving whats next? My church, my beliefs my world is now slowly being controlled by my government and the small group of people that have no understanding of America and what keeps it alive.

Who voted for this man? Why are we not screaming STOP? Why do we allow this to happen?

 

When they came for my friends i said nothing

then they came for my family and I said nothing

when they come for me – who will be left to say anything?

History Repeats itself.

EVERYONE CALL THIS FOOL IN PENNSYLVANIA AND TELL HIM TO TAKE A CUT IN HIS SALARY AND PLAY THE NATIONAL ANTHEM![backtopost]

As first reported by Pittsburgh CBS affiliate KDKA, the Pennsylvania Interscholastic Hockey League has issued a directive to 183 high school squads in central and western Pennsylvania banning the national anthem from being performed.

“The national anthem should not be played only because of time constrains,” PIHL commissioner Ed Sam told KDKA. “It’s not that we’re not patriotic, that’s the furthest from the truth.”

While Sam’s words might sound like bizarre lip service, there actually is some logic to the PIHL’s decision to kick the national anthem out of high school hockey. Sam notes that ice time in western Pennsylvania is quite expensive, making every minute of rented time sacred in an era of cutbacks throughout interscholastic athletics.

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Beware: ObamaCare’s now reality

[preamble]
You wanted it you got it – Obamacare!

The government telling us what medical care we can have.
The government telling us how we need to be healthy.
The government advising our doctors who should get what care – death squads.

Anyone Making over $200,000 is now rich and ostracized – hence our wonderful president does not want innovation or achievement – he wants communism where we are all the same without the driving force that made America successful.

No one will be allowed to make money or strive for excellence

THE WAIT IS OVER – [backtopost]

President Obama’s re-election and Democratic gains in the US Senate end any possibility of repealing the Obama health law. It will roll out as written, imposing major changes soon on you and your family. If you are uninsured because you can’t afford it, help may be on the way. But if you are one of the 250 million Americans with coverage, there are big problems ahead.

If you get your health insurance through a job, you might lose it as of Jan. 1, 2014. That’s when the new “employer mandate” kicks in, requiring employers with 50 or more full-time workers to provide the government-designed health plan or pay a fine. The government plan is so expensive, it adds $1.79 per hour to the cost of a full-time employee. That’s incidental if you’re hiring neurosurgeons but a hefty increase for hiring busboys and sales clerks.

Currently, employers in retail and fast-food industries pay less than half that to cover their workers.To avoid thecostly mandate,some employers will push workers into part-time status. Other employers will opt for the fine. Either way, workers lose their on-the-job coverage.

Worse, they risklosingtheir jobs.Even the fine adds 98 cents an hour to the cost of labor, enough to make some employers cut back on their workforce.

As many as a third of employers are considering canceling coverage, according to McKinsey & Co. management consultants. But that doesn’t mean you’ll be uninsured; you won’t have that choice.

When you file your taxes, you will have to show proof that you are enrolled in the one-size-fits-all plan approved by the federal government. It’s mandatory, starting Jan. 1, 2014, or the IRS will withhold your refund. If you’ve been going without insurance, or your employer drops coverage, your options will be enrolling in Medicaid (if you’re eligible) or buying a government-approved health plan on your state health exchange.

What’s an insurance exchange? It’s like a supermarket that only sells cereal. The exchange will sell only the government-designed plan. In most states, exchanges will be an 800 number, a Web site and a government office, like the DMV. People with household incomes up to $92,200 will be eligible for a subsidy.

If you’re a senior or a baby boomer, expect less care than in the past. Cuts to future Medicare funding pay for more than half the Obama health law. Hospitals, for example, will have $247 billion less to care for same number of seniors than if the law had not passed. Hospitals will spread nurses thinner. California nurses already are striking over the increased workloads.

When Medicare cuts led hospitals to reduce nursing care in the past, elderly patients had a lower chance of surviving their stay and death rates from heart attacks rose, according to a report last year by the National Bureau of Economic Research.

For the first time in history, the federal government will control how doctors treat privately insured patients. Section 1311 of the law empowers the Secretary of Health and Human Services to standardize what doctors do. Even if you have a private plan from Cigna or Aetna and you paid for it yourself, the federal government will have some say over your doctors’ decisions, with an eye toward reducing health-care consumption.

If you sell your house and make a profit, you’ll likely be paying a new 3.8 percent tax on the gain. The law includes about half a trillion dollars in tax hikes, including a new 3.8 percent tax on gains from selling any asset, including your home, small business, stocks or bonds, effective Jan. 1, 2013. That’s on top of capital-gains taxes and applies to any profit that pushes your income over $200,000.

These changes are spelled out in the 2,572-page law, but many more changes will be imposed by regulations yet to be written. The Obama administration is adding federal workers at a rapid pace to churn out and enforce new rules. The government’s own projections say the cost of health-care administration — bureaucrats telling doctors and patients what to do — will soar from $29 billion when President Obama was first elected to $71 billion by 2020, some $40 billion dollars a year more in bureaucracy.

What a shame: That’s enough money to buy private health plans for fully half of all Americans who are now uninsured because they can’t afford it.

Betsy McCaughey, author of the new book “Decoding the Obama Health Law,” is a former lieutenant governor of New York.

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The NO Gotten Gains of Social Media

We constantly hear how social media is transforming our lives. Facebook twitter and YouTube are the hallmark of the next generation of web services that will make our shopping experiences easier and open up another revenue stream for retailers.

Well like the Facebook stock – this idea has tanked. Social media is a FREE service and FREE is a 4 letter word!

Twitter and facebooks millions and millions of tweets and faces DO NOT TRANSLATE INTO ANY SALES.

21% of consumers take pictures of products
18% text/call friends about products
17% scan bar codes
17% send picture to friends
11% compare prices

Foster Research in April of this year reported that out of the 77,000 on line purchases they reported on, LESS THAN 1% was a result of social links.

Meaning social media is useless to retailers. If recent trends continue, this will only get worse as more people use social media to send FREE pictures, the trend to purchase will also stay stagnant or decline. In these terms, social media is the WORST way for retailers to spend their advertising dollars as it produces the least return on investment.

Just look at Facebook Stock prices – prediction – it will never rise above $21.

The big picture on how people purchase via social media? By giving products away at or below cost.

Express retailer and many others tried marketing on Facebook by offering promotional offers. $15 off a $30 purchase, $30 off a $75 purchase and $60 off a $150 purchase – in 1 day, 17,000 people claimed the deal – A massive loss to all retailers! In business, we would consider this a LOSS LEADER – where we give away a small item or service in hopes it will attract the buyer back into the store to make regular purchases – however, social media with its FREE mentality and type of people it draws, simple do not take the bait. Instead they do not purchase and wait for such “deals”. This means disaster to any retailer. You cannot stay in business by competing in price and selling items below your cost.

So while you retailers “think” that you have millions of twits, Facebooks and links coming to your site, this traffic must be good because everyone says it is and with so many people generating so much traffic, you have to make money.

Sorry – FREE is a 4 letter word – social media simple is not a sales medium!