Streams

Schumer Says Obama Will Have Stimulus Package on Day 1

Sunday, November 23, 2008

Senator Charles Schumer says Congress will have an economic stimulus package ready in time for President-elect Obama's inauguration.

REPORTER: Appearing on ABC’s This Week, the New York Democrat, who chairs the joint economic committee, said the stimulus needs to be big, considering what’s happening with unemployment, consumer confidence, and the stock ...

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Comptroller Thompson Seeks New Registration Fees to Help MTA

Sunday, November 23, 2008

In an effort to alleviate the city transit system's fiscal problems, city comptroller William Thompson says car and truck owners should pay additional registration fees, based on how much their vehicle weighs. He says the plan would generate more than a billion dollars in annual regional revenue for the MTA ...

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Housing Authority Head Moves on

Saturday, November 22, 2008

The head of the New York City Housing Authority is leaving to take the helm of Samaritan Village, a substance abuse agency he worked for in the past.

REPORTER: Tino Hernandez has been the authority's chairman for seven years. He leaves during a time of job cuts, which authorities blame on ...

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Department of Aging Outlines Cuts

Saturday, November 22, 2008

City agencies are trying to get used to the idea of cutting 2.5 percent from their next budget -- and 5 percent after that.

REPORTER: The Department for the Aging plans to save nearly $4 million by no longer funding some senior programs, like elder abuse prevention. But senior advocate Bobbie ...

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Who Will Succeed Hillary Clinton in the Senate?

Saturday, November 22, 2008

Who will succeed Hillary Clinton as US Senator now that she's poised to become Secretary of State in the Obama administration? Governor Paterson has ruled himself out, but says more than a dozen people have contacted him expressing interest in filling out Clinton's term. Names being floated range from Westchster ...

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Mayor's Education Cuts Under Scrutiny

Saturday, November 22, 2008

Mayor Bloomberg’s $180 million mid-year cuts to city schools are getting serious scrutiny from the City Council's Education Committee.

REPORTER: Education officials faced stiff questioning Friday from members concerned about the effects of the cuts on to the educational system. Among those demanding details of the plan was Robert Jackson, the ...

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Fears Escalate About Citigroup

Saturday, November 22, 2008

The options for New York-based Citigroup appear to be dwindling along with its stock price.

REPORTER: The banking giant's shares fell below $4 Friday. Analysts say the company may be forced to merge or sell some of its prized businesses. If so, New York City would suffer, according to Peter Schiff, ...

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Foreclosure Crisis Trickles Down: Report

Friday, November 21, 2008

A new report from New York State Comptroller Tom DiNapoli says the national foreclosure crisis is hitting every level of government. WNYC's Bob Hennelly has more.

REPORTER: Comptroller DiNapoli's analysis found that having tens of thousands of New Yorker's homes in foreclosure is putting downward pressure on property values across the ...

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BAM Dance Highlights Africa-America Connection

Friday, November 21, 2008

President elect Barack Obama -- with his Kenyan-born Father and American mother -- has brought the centuries old connections between Africa and America back into the spotlight. A dance collaboration underway at BAM right now also highlights those transatlantic links. WNYC's Allison Lichter has this report.

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Mounting Anxiety and a Falling Market

Friday, November 21, 2008

It keeps on getting worse. As the Dow Jones tumbles lower and lower, individual investors face mounting confusion and anxiety. And that’s not an ideal state of mind for decision making -- as one firm is trying to remind its clients. WNYC’s Siddhartha Mitter reports.

REPORTER: It was an elegant cocktail ...

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Health Officials Defend Closure of Dental Clinics

Friday, November 21, 2008

City health officials are defending their plan to eliminate dozens of public dental clinics that serve 17,000 children.

Commissioner Thomas Frieden says the $3 million cut is necessary, because the department needs to trim the budget.

FRIEDEN: We did not make this proposal lightly. we wish we did not have to make ...

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NYCHA Chairman Steps Down

Friday, November 21, 2008

The head of the city's sprawling public housing system is leaving to take another job. Tino Hernandez served as the Housing Authority's chairman for seven years and will soon lead a substance abuse program called Samaritan Village. His departure comes as public housing faces a $150-million budget gap, and the ...

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Education Department Outlines Budget Cuts

Friday, November 21, 2008

This afternoon a skeptical city Council Committee is hearing from education officials about how they plan to make hundreds of millions of dollars in cuts to city schools to plug the growing budget gap. WNYC's Bob Hennelly has more.

REPORTER: Deputy Chancellor Kathleen Grimm says the Education Department's spending reductions won't ...

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At NYC's Green Markets, Increased Use of Food Stamp Cards

Friday, November 21, 2008

The city's green markets have seen a surge in shoppers using food stamp debit cards. Council Speaker Christine Quinn says that's due a 2006 program that brought credit card style scanners to green markets.

QUINN: Low income folks now are using their food stamps to get access to and purchase high ...

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Broken Glass: Photographs of the South Bronx

Friday, November 21, 2008

In the early 80s, Ray Mortenson photographed the empty buildings that dominated landscape of the South Bronx. The images showed the social and economic devastation of the period. These photos are now on display at the Museum of the City of New York in a show called "Broken Glass." WNYC ...

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NJ Gov Proposes Delayed Pension Payments for Towns

Friday, November 21, 2008

Gov. Corzine says he will seek a delay of some municipal pension contributions as a way to help local communities cope with the faltering economy.

Corzine says without help, the communities may have to cut services or boost property taxes, which are already the highest in the nation.

The proposal would affect ...

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Department for the Aging Defends Modernization Plan

Friday, November 21, 2008

The City Council continues to hold budget hearings to hear about what different city agencies plan to do to reduce their spending.

But the city's Department for the Aging spent much of its testimony defending a proposal they say won't be a cut.

It's the planned "modernization" of senior centers that requires ...

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New York Red Bulls in Soccer Cup Final

Friday, November 21, 2008

The New York Red Bulls soccer team is in California getting ready to face the Columbus Crew on Sunday. It's the first time in history for both of these clubs to reach the Major League Soccer Cup final.

MLS spokesman Dan Courdemanche says that even though Columbus Crew is the clear ...

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Day Traders React to Market Volatility

Friday, November 21, 2008

Maybe you’re checking the stock market every day, a few times a day, or never … particularly in a week like this. Investors saw another bottom yesterday, when the Dow closed at its lowest level in six years. WNYC’s Lisa Chow went to an office filled with day traders … ...

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Treasury Pick Buoys Wall St., Citigroup Shares Dwindle

Friday, November 21, 2008

US stocks rallied today on word that president-elect Barack Obama has picked Tim Geitner, president of the Federal Reserve Bank of New York, to be treasury chief.

But more ominous signs from Citigroup are keeping the financial mood sour, certainly here in New York. Greg David, editorial director of Crains New ...

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