Would the "comprehensive reforms" unveiled today by the state Senate's Majority Democrats "fix the state’s broken budget process and give New Yorkers a fiscally responsible budget," as they claim? Of course not. There are, however, some good ideas... Read More
That's the provocative title of a Working Paper newly posted on the website of the National Bureau of Economic Research (NBER). The answer, in a word, is "yes." The co-authors of the paper, which focuses on strikes by nurses in New York between 1984... Read More
Support for some kind of wage freeze (state, local, school district or all public employees) is growing as shown by newspaper editorials in recent weeks (here) and (here). In the past few days, additional editorials weighing in on the topic... Read More
Unless there's surprise development, state workers will get pay checks in mid-April that are fattened with 4 percent salary increases--despite Governor Paterson's call for shared sacrifice. As Daily News columnist Bill Hammond writes () Read More
The l in today's New York Times profiles the 10 highest-earning hedge fund managers. A quick Google search indicates that only three of the firms run by these superstars -- Soros Fund Management, Paulson & Co., and Harbinger Capital Pa Read More
As its 2009-10 fiscal year draws to a close, New York is on track to collect roughly $500 million less than originally projected from last year's temporary "millionaire tax," which raised the marginal income tax rate by up to 31 percent on taxpayers Read More
The idea of freezing wages of public employees has gained bipartisan support and picked up steam in newspaper editorials around the state in recent days. In an op-ed in the Week in Review section of The New York Times, former U.S. Sen. A Read More
The MTA's Jay Walder has , former Bear Stearns managing director, to the authority's chief financial officer post. Problem is -- Foran enabled the creation of a lot of the MTA's problems in the first place. One of the MTA's many disaster areas is wh Read More
Three--no, make that four--members of the Assembly have called on unionized teachers to forego $1 billion in scheduled pay raises to avoid massive layoffs and property tax increases. Forgetaboutit, responds Richard Iannuzzi. Instead the president Read More
In double-barreled editorials, the Rochester Democrat & Chronicle argues the state Legislature should freeze state employee salaries--and repeal the Triborough Amendment. No member of the Legislature has introduced a bill to repeal Read More
Senator Chris Dodd's financial-regulatory includes some of what the press calls the "Volcker Rule" (p478): banning FDIC-insured banks and their affiliates or parent companies from what's known as "proprietary trading" or betting supposedly safe ban Read More
The state payroll for New York State shrunk by 1,856 full-time equivalent (FTE) employees during a two-year period ending in January 2010. However, despite a hiring freeze announced by Governor David Paterson in 2008, the state employs more workers t Read More
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