The some expenditure details of , northern California, pop. 117,000. Vallejo declared bankruptcy earlier this year after having unsustainably ramped up public spending in response to unsustainable tax revenues stemming from unsustainable property- Read More
Wall Street has been shaken to its foundations, state and city revenues are plummeting, the long term fiscal outlook grows grimmer every week -- and Mayor Bloomberg today announced with a municipal labor union. The 8,300 members of the Correction Read More
Forecasters at the Centre for Economics and Business Research in London think that securities-industry bonuses there will plummet 60 percent this winter. London bankers reaped the equivalent of $17 billion in bonuses in 2006, the peak year; in New Read More
In a press conference Q&A today, Mayor Bloomberg said of state spending that cuts to Medicaid and education are "politically very difficult." Read More
In the of his congressional testimony yesterday, Governor David Paterson made this pointed reference to what the late Sen. Daniel Patrick Moynihan used to call the "balance of payments deficit" between New York State and the federal government: Read More
New York AG Andrew Cuomo has written a to nine financial institutions inquiring whether those institutions' receipt of emergency federal money has changed those firms' expected bonus payouts for "top management" for the winter of 2008-2009. Cuomo' Read More
The city has released on the New York City residential condominium market, while analysts at the private firm Portfolio and Property Research (via and ) have released some projections for the metro-area office-building market. Taken together, the ne Read More
At a Crain's breakfast this morning, City Comptroller (and 2009 mayoral candidate) Bill Thompson acknowledged a vital truth. "Budget growth has lately been out of balance with the growth of our local economy. Had we started to tie city spending to [ Read More