Economy

Independent Colleges and Universities Generate $74.3 Billion in Economic Activity for New York State

  2 years ago     1482 Views     Leave your thoughts  

Albany, NY -- With total payroll exceeding $26 billion for 394,400 direct, indirect and induced jobs, New York’s independent colleges and universities (private, not-for-profit) are a major source of jobs in all regions of New York State, according to a new economic analysis by the Center for Governmental Research (CGR) released today by the Commission on Independent Colleges and Universities (CICU). In total, independent colleges and universities in New York State contributed $74.3 billion to the state’s economy in 2013, an increase of $11.1 billion over 2011 figures. As private employers, independent colleges and universities directly employ 190,500 New Yorkers, with…

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2014 Realizes Strongest US IPO Numbers in Over a Decade

  2 years ago     1374 Views     Leave your thoughts  

- As of December, there were 288 IPOs on US exchanges, which raised $95.2b, a 54% increase in capital over 2013. - The health care sector accounted for over one-third of the deals. - The US hosted more foreign IPOs in 2014 than any other market. - There is a strong pipeline of deals for Q1 2015, with over 60 companies ready to list, expecting to raise $22.0b. NEW YORK, Dec. 10, 2014 /PRNewswire/ -- With 288 deals and $95.2b raised, 2014 will end with record activity in the US IPO markets, according to the EY Global IPO Trends: 2014 Q4 report…

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Leak at Federal Reserve Revealed Confidential Bond-Buying Details

  2 years ago     501 Views     Leave your thoughts  

The Federal Reserve Board declined to respond to detailed questions about this article. The Inspector General also declined to comment. Former Fed Chairman Ben Bernanke referred all questions to the Federal Reserve. Medley Global Advisors did not respond to requests for comment. The Federal Reserve sprung a previously unreported leak in October 2012, when potentially market-moving information about highly confidential monetary deliberations made its way into a financial analyst's private newsletter. The leak occurred the day before the scheduled public release of meeting minutes that shed new light on the Fed's decision to embark on a third round of bond…

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Questions and Answers About Anellotech with Andy Stewart

  2 years ago     1626 Views     Leave your thoughts  

Many of you have contacted me this week with concerns about a proposal by a company called Anellotech to construct an addition to its existing building on the Pfizer Campus in Pearl River. Reports have circulated that this addition would include a 100 foot tall smokestack that would supposedly spew carcinogenic chemicals into the air. Obviously, any reasonable person hearing these reports would be concerned by the prospect that such a facility could be located in our town. There are some things we do know about this proposal, and some we do not. But the bottom line is that I…

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Secret Tapes Hint at Turmoil in New York Fed Team Monitoring JPMorgan

  2 years ago     516 Views     Leave your thoughts  

Examiners are reportedly blocked from doing their job as “London Whale” trades blow up. by Jake Bernstein ProPublica As the Federal Reserve Bank of New York moved to beef up its oversight of Wall Street two years ago, the team charged with supervising the nation's largest bank, JPMorgan Chase, was in turmoil. New York Fed examiners embedded at JPMorgan complained about being blocked from doing their jobs. In frustration, some requested transfers. Top New York Fed managers knew about the problems, according to interviews and secret recordings of internal meetings obtained by ProPublica. Similar frustrations had surfaced among examiners at…

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COUNTY EXECUTIVE DAY PRESENTS $772 MILLION BUDGET

  2 years ago     814 Views     Leave your thoughts  

Bold 2015 Spending Plan Reflects Fiscal Realities, Comes In Under State-Mandated Tax Cap NEW CITY, NY  -- Emphasizing a focus on responsible, forward-thinking fiscal management, County Executive Ed Day today unveiled a proposed 2015 Executive Budget that sets the County on a long-term path toward financial stability.  The $772 million fiscal plan responsibly funds essential services at a minimal cost to taxpayers, while honoring the County Legislature's law mandating a $10 million payment to reduce the deficit. Through a combination of organizational restructuring and strict cost controls, the 2015 proposed budget holds taxpayer-supported spending on County operations to an increase…

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The Fed Hates To Burst Your Bubble

  2 years ago     863 Views     Leave your thoughts  

by Jesse Eisinger, ProPublica Note: The Trade is not subject to our Creative Commons license. Central bankers have been attacked, justifiably, for having done little to quash the great credit bubble that led to the 2008 financial crisis. They could have raised rates sooner, more quickly and higher (though that's a blunt instrument). They could have used their bully pulpits more (though that's a weak instrument). They and fellow banking regulators could have tightened rules (but that's a fantasy if you are captured by industry). Now things look quite effervescent if not completely bubbly. Measures of systemic risk, according to the…

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Q&A: The Hidden Costs of Tobacco Debt

  2 years ago     645 Views     Leave your thoughts  

by Cezary Podkul, ProPublica We recently wrote about the hidden cost of tobacco bonds – debts issued by states and other governments in the years following a historic 1998 legal settlement with Big Tobacco. That settlement required tobacco companies to pay billions in perpetuity to reimburse states for the health care costs of smoking. Rather than wait and collect over time, many states used tobacco bonds to get their money in a lump sum, kind of like cashing in lottery winnings for a one-time payment. But in doing so, some issued what are called capital appreciation bonds, or CABs. These special securities are costlier…

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U.S. Payrolls Gained 288,000; Jobless Rate Falls to 6.3%

  3 years ago     599 Views     Leave your thoughts  

By NELSON D. SCHWARTZ - nytimes The American economy gained steam in April, adding 288,000 jobs, while the unemployment rate fell to 6.3 percent, the lowest level since September 2008. After a sharp slowdown in December and January, and a modest improvement since then, economists had been forecasting a healthy gain for April as consumer and business activity rose in tandem with temperatures in many parts of the country. But the good news was tempered by a drop of 806,000 in the number of Americans in the labor force, pushing the labor participation rate down sharply. And despite the fall in…

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