602 potential parkway scotia new york

Since the pandemic began to wane, New York-watchers have stoked fears about an urban doom loop : Millennials like me — liberated from the chains of our desks — would abandon Midtown Manhattan and perhaps the city or state altogether in search of lower costs of living. The commercial tax base would be obliterated, leaving no funds to support essential services like the subway. To prevent this dystopian future, Gov. Kathy Hochul and Mayor Eric Adams convened an expert panel that I served on, and they released the “ Making New York Work for Everyone ” plan (also known as the “‘New’ New York” plan) in December, a sweeping set of 40 proposals to keep the economy humming. The goals of the plan, broadly, are to reimagine the city’s business districts, to make it easier for New Yorkers to get to work, and to generate inclusive growth that positions the city to “lead the emerging industries of the 21st century.” But now, it is budget season in Albany. The proverbial “three men in a … [Read more...] about Will Ambitious Plans for a ‘New’ New York Get Crushed in Albany?

Oscar Health was going to be a new kind of insurance company. Started in 2012, just in time to offer plans to people buying insurance under the new federal health care law, the business promised to use technology to push less costly care and more consumer-friendly coverage. “We’re trying to build something that’s going to turn the industry on its head,” Joshua Kushner, one of the company’s founders, said in 2014, as Oscar began to enroll its first customers. These days, though, Oscar is more of a case study in how brutally tough it is to keep a business above water in the state marketplaces created under the Affordable Care Act. And its struggles highlight a critical question about the act: Can insurance companies run a viable business in the individual market? Oscar has attracted 135,000 customers, about half of them in New York State. And some of its efforts with technology have been successful. But for every dollar of premium Oscar collects in New York, the company is losing … [Read more...] about Health Insurer Hoped to Disrupt the Industry, but Struggles in State Marketplaces

Donald Trump has denied he incited violence to be carried out against Manhattan District Attorney Alvin Bragg in one of his recent Truth Social posts, blaming the outrage on "fake news media." On March 23, Trump shared an article on Truth Social that used an image of the former president holding a baseball bat next to a photo of Bragg, the prosecutor leading the Stormy Daniels hush money investigation in which the Republican faces a potentially historic indictment and arrest over. Hours later, Trump warned on Truth Social of the potential for "death and destruction" should Bragg's investigation result in a criminal charge against the former president, leading to accusations that Trump is inciting his supporters to carry out attacks and violent disorder with his social media activity. In an interview with Sean Hannity on Monday, the Fox News host asked Trump why he would "open yourself up to criticism" with his Truth Social posts. Trump said that he was unaware that … [Read more...] about Donald Trump’s bizarre Alvin Bragg baseball bat “threat” explanation

While home prices are still expected to decline in the Bay Area over the next year, the outlook is improving a bit, according to new data — even amid ongoing economic pressures in the Bay Area. Projections by Zillow show that home values in the San Francisco metro areas will likely decrease 2.7% in the next year, compared with the 3.6% decline the real estate listings website was forecasting in December. That comes even as tech layoffs continue and amid the collapse of Silicon Valley Bank and the crisis at First Republic , known as one of the biggest local providers of mortgages. What’s driving the expectation of a smaller year-over-year decline? Notably, buyer demand started to rebound quite a bit after hitting near-historic lows late last year, said Patrick Carlisle, chief market analyst for the Bay Area real estate group Compass. “We will know much more once the spring selling season, typically the most active of the year, really gets underway,” he said. “But the … [Read more...] about Outlook for Bay Area home prices is changing. Here’s the latest data

How much further will the Supreme Court go to assist in the arming of America? That has been the question since last June, when the court ruled that New York’s century-old gun licensing law violated the Second Amendment. Sooner than expected, we are likely to find out the answer. On March 17, the Biden administration asked the justices to overturn an appeals court decision that can charitably be described as nuts, and accurately as pernicious. The decision by a three-judge panel of the United States Court of Appeals for the Fifth Circuit invalidated a federal law that for almost 30 years has prohibited gun ownership by people who are subject to restraining orders for domestic violence. The Fifth Circuit upheld the identical law less than three years ago. But that was before President Donald Trump put a Mississippi state court judge named Cory Wilson on the appeals court. (As a candidate for political office in 2015, Wilson said in a National Rifle Association questionnaire … [Read more...] about We’re About to Find Out How Far the Supreme Court Will Go to Arm America

Following is the transcript of Barack Obama's economic speech at Cooper Union in New York, as provided by CQ Transcriptions Inc. Thank you so much for being here. Let me begin by thanking Dr. Drucker and Cooper Union for hosting us here today. I have to say that the last time an Illinois politician made a speech here it was pretty good. So... (LAUGHTER) ... the bar is high. And I -- I want everybody to know right at the outset here that this may not be living for generations to come, the way Lincoln's speech did. I want to thank all our elected supporters who are here. I want to -- there are a couple of special guests that I'm very appreciative for being in attendance: Paul Volcker, the former chairman of the Federal Reserve Board... (APPLAUSE) We appreciate his presence. William Donaldson, the former chairman of the U.S. Securities and Exchange Commission. We thank you. And finally I want to thank the mayor of this great city, mayor Bloomberg, for his extraordinary … [Read more...] about Obama on ‘Renewing the American Economy’

“I feel like Butch Cassidy and the Sundance Kid. Who are these guys that just keep coming?” — Treasury Secretary Henry Paulson Jr. It was the weekend of Sept. 13, and the moment Treasury Secretary Henry M. Paulson Jr. had feared for months was finally upon him: Lehman Brothers was hurtling toward bankruptcy — fast. Knowing that Lehman had billions of dollars in bad investments on its books, Mr. Paulson had long urged Lehman’s chief executive, Richard S. Fuld Jr., to find a solution for his firm’s problems. “He was asked to aggressively look for a buyer,” Mr. Paulson recalled in an interview. But Lehman could not — despite what Mr. Paulson described as personal pleas to other firms to buy some of Lehman’s toxic assets and efforts to persuade another bank to acquire Lehman. With all options closed, he said, the government’s hands were tied. Although the Federal Reserve had helped bail out Bear Stearns — and was within days of bailing out the giant insurer American … [Read more...] about Struggling to Keep Up as the Crisis Raced On

A Swiss chief returns UBS unexpectedly said on Wednesday that it was bringing back Sergio Ermotti as C.E.O., as the Swiss bank begins the tough task of digesting its archrival, Credit Suisse. It’s another sign of how tricky UBS considers the work of taking over its main competitor, via a $3.2 billion deal that continues to draw blowback from investors and Swiss lawmakers alike. The move had been in the works for days. Colm Kelleher, UBS’s chairman, said at a news conference that he first called Mr. Ermotti to discuss a potential return on March 20, less than a day after UBS announced it was buying Credit Suisse. Mr. Ermotti, who left UBS in 2020, will replace Ralph Hamers on April 5. The UBS board determined that “for this massive integration exercise, Sergio would be the better pilot for the next part of this voyage,” Mr. Kelleher said. Mr. Hamers will stay on for an unspecified period as an adviser to help with the transition. At the news conference, Mr. Hamers … [Read more...] about UBS Taps an Ex-C.E.O. to ‘Pilot’ Its Takeover of Credit Suisse

On the morning of Oct. 5, President Bush and his education secretary, Margaret Spellings, paid a visit, along with camera crews from CNN and Fox News, to Friendship-Woodridge Elementary and Middle Campus, a charter public school in Washington. The president dropped in on two classrooms, where he asked the students, almost all of whom were African-American and poor, if they were planning to go to college. Every hand went up. “See, that’s a good sign,” the president told the students when they assembled later in the gym. “Going to college is an important goal for the future of the United States of America.” He singled out one student, a black eighth grader named Asia Goode, who came to Woodridge four years earlier reading “well below grade level.” But things had changed for Asia, according to the president. “Her teachers stayed after school to tutor her, and she caught up,” he said. “Asia is now an honors student. She loves reading, and she sings in the school choir.” Bush’s Woodridge … [Read more...] about What It Takes to Make a Student

Back in the 1980s , two young Harvard professors trying to reinvigorate the Democratic Party would meet at the Wursthaus restaurant in Cambridge, Mass., to have lunch and argue with each other. They must have made for an entertaining sight, one of them bearish and the other less than five feet tall, debating each other in a dark Harvard Square dive. The argument, in a nutshell, came to this. The smaller man — Robert Reich, a future secretary of labor — argued for something that he called “industrial policy.” Since the government couldn’t avoid having a big influence on the economy, he said, it should at least do so in a way that promoted fast-growing industries and invested in worthy public projects. The bearish professor was Lawrence H. Summers, who was then the youngest person to have received tenure in the modern history of Harvard University. He loved to tackle big, broad questions, and, by his lights, industrial policy amounted to another version of the governmental meddling … [Read more...] about Larry Summers’s Evolution