Category Archives: On Business

Getting to the top

Deblasio gives workers 10% raise – increases borrowing to pay

What more can we say! Raise borrowing, raise taxes, supposed savings on yet “undetermined savings” meaning no savings. Speed bumps? Failure upon failure upon failure – my god!!!!
No mention about job creation

Andrew J. Hawkins
May 8, 2014 1:48 p.m.
Mayor Bill de Blasio unveiled his $73.9 billion budget plan Thursday, including a projected 10% raise for the city’s workforce over the next seven years and an 8% decrease in small-business fines.

Mr. de Blasio described his budget as both progressive and “fiscally prudent,” a stance that he said would allow his administration to spend on programs that serve his liberal agenda of more affordable housing and expanded prekindergarten, among other programs.

“This is a cautious document on purpose,” Mr. de Blasio said at the end of his hour-long budget presentation at City Hall, adding that his budget takes “a careful stance to protect against future disruptions,” such as another economic downturn.

But one major business group intimated that the spending plan is more aggressive than cautious.

“The executive budget lays out aggressive commitments to housing, education and labor contracts that will require maintaining economic growth at an annual rate of at least 3%,” said Kathryn Wylde, president and CEO of the Partnership for New York City. “This can be achieved, but it will require close cooperation between City Hall and the business community.”

The budget also contains more details about the contract agreement the city reached with the United Federation of Teachers last week, as well as how much the administration estimates it will cost to settle the remaining labor contracts. The mayor expects to take on $13.4 billion in new costs from labor contracts, but expects to offset all but $5.5 billion of that through health care savings and other measures.

The savings will be achieved in several ways: $3.4 billion will come from as-of-yet undetermined health care cost-cutting that Mr. de Blasio says is “guaranteed” to happen, $1 billion from a health “stabilization fund” that is controlled jointly by the Municipal Labor Council and City Hall, and $3.5 billion from a “labor reserve” fund.

In a statement, Harry Nespoli, president of the Municipal Labor Council, an umbrella group of city unions, said Mr. de Blasio’s budget will “provide a sound financial basis for the city to move forward.”

Mr. de Blasio promised a big reduction in fines handed out to restaurants and other small businesses, projecting an 8% decrease in the expected revenue to $789 million in fiscal year 2015, from $859 million in fiscal 2012. The reduction will help “stabilize” small businesses and allow them to create more jobs, the mayor said.

There was also significant funding allocated to Mr. de Blasio’s “Vision Zero” traffic safety plan. The mayor is proposing to spend $28.8 million on speed humps, red-light cameras and intersection redesigns.

The city will increase its borrowing to help pay for Mr. de Blasio’s plan to build and preserve 200,000 units of affordable housing. The four-year capital plan for the years 2014-2018 totals $48.9 billion. (The city will present a 10-year capital plan next January.)

Now that he’s released his budget, Mr. de Blasio will enter into negotiations with the City Council. Several items sought by the council, such as hiring an additional 1,000 police officers and waiving school lunch fees for all students, were not included in the mayor’s budget, setting the stage for negotiations with the council. The mayor said he supports the idea of free lunch but adopting such a policy would result in a substantial loss of federal funding.

A spending plan for the year beginning July 1 must be adopted by the end of June.

Council Speaker Melissa Mark-Viverito largely praised the budget plan, but criticized it for lacking transparency.

“We are disappointed to see that while the executive budget addresses skyrocketing overtime costs for the NYPD, it does not include funding to hire the additional 1,000 police officers needed to reduce understaffing at city precincts and provide support for Vision Zero,” she said in a statement.

Mr. de Blasio answered a question about transparency by noting that he is still negotiating the budget with the City Council.

False Global warming claims allows administration to control more

Scientifically unproven – false claims and another crisis! More energy control – the inevitable creep of socialism

CNN today
Flooded rail lines, bigger and more frequent droughts, and a rash of wildfires are predictions in a White House climate change report released Tuesday.

“Climate change, once considered an issue for a distant future, has moved firmly into the present,” the National Climate Assessment says, adding that the evidence of man-made climate change “continues to strengthen” and that “impacts are increasing across the country.”

Deblasio – the socialist

1. housing initiative – denser taller buildings – like China and Russia – the end of “Greater” New York – turning neighborhoods into compact dense poor housing – like the New York at the turn of the century – tenements – but again – socialists like these ideas. NO sustainability or actual job creation – ONLY if you are a union member which Deblasio sucks ass to.

The main thrust will be a policy of mandatory inclusionary zoning, which would require developers to include affordable units in new buildings in return for zoning changes to allow for taller buildings and greater density. The previous administration relied on a voluntary system to encourage affordable developments. Mr. de Blasio said those tactics had not produced as much below-market rate housing as needed.

– lets not forget that the same people living in the same building will be paying $1000 and $200 (exaggeration but true) – why would I pay $1000 for an apartment when I know someone else in the same building in the same apartment is paying $200? If you read the news lately you will also see that these low income people NOW want to sue these buildings because they are denied access to the buildings exclusive amenities – its discrimination! Well I call it “you cant afford it”

2. Freeze rents – another blow to “owners” – we now collect less rent and are more indebt to people who product nothing – similar to the medical industry the government is destroying. More pain less gain

New York Mayor Bill de Blasio’s campaign plan to freeze rents for nearly a million rent-stabilized tenants got a strong boost Monday, despite city price data showing significant increases in landlord costs.

In an 8-1 preliminary vote, the city’s Rent Guidelines Board approved a range of possible rent increases—including an option of no gain at…

3. Union loving Deblasio – yes, unions like hospitals are the most expensive entity to do business with – YET our socialistic Mayer cow-tows to them. The “crisis” we hear about health care and jobs and the costs of living – all mean we the people suffer more while our elected officials do nothing to fix the problem – marginalize unions and hospitals – make them accountable and watch how much we save.

4. LICH/SUNY – because the Mayor and his union cronies want a piece of the pie – they will knock down any viable option that will actually work unless they get their filed way – why not just have the mayor and unions run the place – watch how it fails again

Hoping to Fend Off Suits, G.M. Is to Return to Bankruptcy Court

We gave them billions and YET they still fail! – I guess they need more FREE money
Another Obama failure

By HILARY STOUT and BILL VLASICMAY 1, 2014
An unusual meeting took place this week at a law office high in a Times Square skyscraper. Lawyers from about 100 law firms participated, either in person or by phone. The agenda: solidifying a strategy for taking on General Motors in bankruptcy court.

Bankruptcy court was supposed to be a fading memory for the giant automaker. But on Friday, less than five months after declaring the era of “Government Motors” over and done with, the new G.M., which just completed its 17th consecutive profitable quarter, will be back before Judge Robert E. Gerber in the Federal Bankruptcy Court of the Southern District of New York, girding for a new fight.

On the surface, G.M. is merely asking the judge to enforce a provision of its July 10, 2009, bankruptcy reorganization that insulated the “new” company from lawsuits stemming from accidents that occurred before that date.

But the reason for the request is far from routine. The company is trying to shut down a rising tide of class-action lawsuits stemming from its recall of 2.6 million cars because of a dangerously defective ignition switch that it now links to 13 deaths.

Asking a judge to enforce part of a restructuring happens in many bankruptcy cases. But in this situation, some bankruptcy experts say, it may be a risky move. Objections have poured into the court from plaintiffs in cases around the country, alleging that the company committed fraud during the bankruptcy proceedings five years ago by not disclosing the potential liabilities from the faulty switch, a problem it now admits was known in parts of the company for more than a decade before the recall.

“I think it’s a gamble from G.M.’s perspective,” said David A. Skeel, a bankruptcy specialist at the University of Pennsylvania School of Law and the author of “Debt’s Dominion: A History of Bankruptcy Law in America.” “If I were the judge, I would not give them a carte blanche and say this litigation has got to stop. I suspect the response will be more nuanced than that.”

In fact, he and others say, the otherwise routine motion could potentially end up leading to a mini-trial of sorts, on whether or not fraud was committed. If that happens, Mr. Skeel said: “In a way, it’s we’re redoing the bankruptcy. It’s quite possible this trial could be a larger event than the real bankruptcy.”

If allegations of fraud become a focus, the proceedings could go a long way toward answering a question that two congressional investigations, countless news reports and other inquiries have not been able to ascertain so far — how high up in the company did the knowledge of the switch defect go? G.M. has largely declined to make employees available for questioning and has continually cited its own internal investigation.

The two lead lawyers representing G.M. in its motion to enforce the bankruptcy order did not return phone calls. But outside lawyers say the company may still have the upper hand. There is a generally accepted feeling that judges do not like to tamper with sales or restructuring plans and that the greater economic good of this one — which has been credited not only with saving the company, but also preventing the American economy from sinking deeper into recession — may be paramount.

Whatever the outcome for G.M. and the plaintiffs who have filed lawsuits against it, the result could have wider implications for American business.

“This may be an important case for teaching us how bankruptcy sales can relieve a company of its past mistakes,” said Richard Levin, head of the restructuring practice at Cravath, Swaine & Moore.

Some lawyers note that whatever Judge Gerber decides is likely to be appealed by the losing side and could possibly end up in the Supreme Court.

The bankruptcy court proceeding on Friday is a procedural conference — “No substantive matters will be decided at the conference, nor will evidence be taken,” wrote Judge Gerber in an order — but it sets the starting point of a process that could be lengthy and perilous.

In a quarterly filing with the Securities and Exchange Commission last week, G.M. said it was aware of 59 putative class-action suits filed on behalf of owners of cars with the defective switch, seeking compensation for economic losses, including diminution in value of the vehicles.

Lawyers for the myriad cases this week selected three among them to take the lead role before the judge on Friday and possibly beyond — Edward S. Weisfelner, head of the corporate bankruptcy and restructuring practice group at Brown Rudnick, who organized the large meeting in New York this week; Sander L. Esserman of Stutzman, Bromberg, Esserman and Plifka in Dallas; and Elihu Inselbuch of Caplin and Drysdale in New York.

Deblasio Sucks Up To Unions

The only CRISIS in the healthcare system is our politicians sucking up to the UNIONS!

Fears have grown among community stakeholders who want to preserve the hospital and the unions that employ staff there that if that shutdown occurs, the facility may never reopen as a full service medical center. In the past two days both Mayor Bill zolpidem online, 1199 SEIU and NYSNA, that employ the bulk of the hospital staff there, have withdrawn support for the group.

US Economy Flatlined first Quarter of 2014

It’s an achievement to not have job growth for 5 year. Its hard for Americans to NOT make money.
Bravo Obama! Even after billions in stimulus money pissed away!!
We lost over 3 Billion bailing out GM – meaning GM received a 3 Billion FREE loan from US! FREE MONEY no chance of paying it back. Try that with your bank mortgage!

What is the cause according to our president? Bush & Global warming!

The real reason is an administration that has raised taxes and is invasively intrusive in regulations!

Deblasio today:
1. Raises the mansion tax to pay for low income housing
2. Adds .30 cents for taxi cabs to pay for wheelchair accessibility
3. Gives failing teachers union 3 years back pay
4. Hides when found sneaking around with political donors
5. Give FREE lunch to the tune of $34 million a year to everyone!
6. Free After day care

So now we give free breakfast, free lunch, Free school, free after hours day care – gee what’s next FREE parenting?
Parents only need to sleep with their children!
One of the mottos of socialism is to break the family bonds – I let you decide.

JOBs in NY?
we are giving tax breaks for certain companies – what about us? the businesses that have been here for years employing people? What do we get for staying despite insane taxes and regulations? NOTHING!
we don’t matter

THIS FOLLY NEVER SEEMS TO END!

Lets blame business for poverty

[preamble}
David Bacon act, Prevailing wages – European failures
Unskilled workers receiving high level payment – no incentive
The aspirations of a hamburger flipper to BE a hamburger flipper – why change if the government give you a great salary
Be the LEAST you can be In America – that’s our new motto.
{backtopost]

‘Living wage’ inflation