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Economy

WNYC News

Mayor Defends His Decision to Withdraw From Green Building Initiative

Tuesday, December 08, 2009

Mayor Bloomberg is defending his decision to withdraw a major climate change initiative that would have required landlords to make their buildings more energy efficient. The mayor says the costs and benefits of the law wouldn't have been spread fairly between landlords, and commercial and ...

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WNYC News

Shortfall in MTA Revenues

Tuesday, December 08, 2009

The MTA is warning about new financial problems. The transportation authority says a new payroll tax on metropolitan-area businesses has generated less revenue than expected.

That's causing a $200-million hole in the MTA's operations budget - on top of a cut lawmakers made last week in ...

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WNYC News

NY Fed Prez Blasts Compensation of Bailed-Out Bankers

Tuesday, December 08, 2009

The president of the New York Federal Reserve Bank says he finds it "deeply offensive" that some of the very same individuals and banks that helped bring about the financial crisis are benefiting from the government and the Fed's response to the crisis. WNYC's Lisa ...

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WNYC News

Another Type of Fight at a Bronx Armory

Tuesday, December 08, 2009

An effort to boost the wages of some low income workers is set to face a key vote in the City Council today. Proponents want workers at a large city-backed development project in the Bronx to get more than minimum wage. But the developer of ...

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The Brian Lehrer Show

Tell us Your Economic Resolutions!

Monday, December 07, 2009

Picture 14-2

Do you feel a bit wiser now that you’ve come through the 2009 financial crisis? Do you have a plan or a resolution for the new year? Perhaps you are bracing for another tough year, but this time you'll be prepared. Tell us ...

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The Takeaway

As the Economic Downturn Hits Under the Christmas Tree

Monday, December 07, 2009

For many families the holidays are a time of togetherness, good food and especially, presents. But in the middle of an economic downturn, it is harder than ever for many families to stack the hearth high with gifts for the kids. We talk with two parents who have been thinking a lot about downsizing their holidays. Marvin Powell lost his job with General Motors in October, and when he tried to explain a leaner Christmas to his son, the six-year-old suprised him with some youthful wisdom, saying "Daddy, [presents] are not even what its about. It's about being thankful." Ylonda Gault Caviness, longtime parenting journalist for the website iVillage, shares her tips on how to explain a scaled-back holiday to children.

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The Takeaway

Credit Crunch Leaves Small Businesses Wanting

Monday, December 07, 2009

At last week's White House Jobs Summit, small business owners from across the country pressed President Obama on dozens of issues related to the economic downturn. Credit, though, was a central issue: The credit crunch has prevented thousands of businesses from obtaining loans to expand, shift gears, or even just fund day-to-day operations. Today, Maryland governor Martin O'Malley will unveil a strategy intended to help small business owners get credit. One such business owner, Dawn P. Jackson, is the owner of NuDawn Marketing Group in Maryland and president of Women Business Owners of Prince George's Country. Dawn hoped to expand her small marketing business, but she has been discouraged from applying for credit after several banks told her that she was unlikely to get any. Maryland's Secretary of Commerce, Christian Johannson, joins us with a preview of what the governor's plan entails.

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WNYC News

In New Role, Adolfo Carrión Begins National Urban Conversation

Monday, December 07, 2009

Carrion Digs Potatoes in urban Philadelphia garden (Andrea Bernstein)

Adolfo Carrión Digs Potatoes in urban Philadelphia garden (Andrea Bernstein)

 

Listen:

Last July, Adolfo Carrión, Jr. paid a visit to an urban garden in Philadelphia. In casual khaki slacks and rolled-up shirt sleeves he was digging up potatoes, throwing the long stems into a wooden wheelbarrow, to be turned into compost. The potatoes, he offered, would be good for “home fries.”

Carrión is now the director of the brand-new White House Office of Urban Affairs, part of a campaign promise President Barack Obama made to re-focus attention on urban America.

A small crowd was gathered around Carrión in the garden--the Mayor of Philadelphia, a Deputy Secretary from the federal Department of Housing and Urban Development, a host of neighborhood activists and a few teenagers. Two of the teens, Amber and Shardae, were standing a bit off to the side, knee-high in collard greens.

The high school students were part of the “Teens for Good” program. The program hires local teens, gives them summer jobs, and sells the produce the raise at a neighborhood farmers market. Amber and Shardae were joking about sneaking a few of the ping pong ball-sized raspberries. But for Amber this was serious.

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WNYC News

In New Role, Adolfo Carrión Begins National Urban Conversation

Monday, December 07, 2009

Last July, Adolfo Carrión, Jr. paid a visit to an urban garden in Philadelphia. In casual khaki slacks and rolled-up shirt sleeves he was digging up potatoes, throwing the long stems into a wooden wheelbarrow, to be turned into compost. The potatoes, he offered, would be good for “home fries.”

Carrión is now the director of the brand-new White House Office of Urban Affairs, part of a campaign promise President Barack Obama made to re-focus attention on urban America.

A small crowd was gathered around Carrión in the garden--the Mayor of Philadelphia, a Deputy Secretary from the federal Department of Housing and Urban Development, a host of neighborhood activists and a few teenagers. Two of the teens, Amber and Shardae, were standing a bit off to the side, knee-high in collard greens.

The high school students were part of the “Teens for Good” program. The program hires local teens, gives them summer jobs, and sells the produce the raise at a neighborhood farmers market. Amber and Shardae were joking about sneaking a few of the ping pong ball-sized raspberries. But for Amber this was serious.

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The Brian Lehrer Show

Uncommon Economic Follow-Up: Reconnections

Monday, December 07, 2009

Our series of follow-ups for the 1-year anniversary of the Your Uncommon Economic Indicators project continues. Gerry Segal, YUEI contributor who you may remember as the winner of the BLS satire slam, talks about how his exposure on The Brian Lehrer Show and social media has allowed ...

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The Brian Lehrer Show

Job Creation and COBRA Benefits

Monday, December 07, 2009

While the initial focus in Washington last week was on Afghanistan, by the end of the week the talk was of unemployment. Ross Eisenbrey, vice president of the Economic Policy Institute, discusses the various job-creation proposals and the upcoming expiration of subsidies for COBRA benefits that were featured in ...

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WNYC News

Store Owners Hold Their Breath, Eye December Sales

Monday, December 07, 2009

Many boutiques are closely tracking their sales numbers as December is often a make or break month for those stores that rely on big holiday sales. WNYC's Lisa Chow reports.

REPORTER: Charles Branstool didn't feel particularly optimistic coming into this holiday season. He owns Exit 9, ...

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WNYC News

NYC Public Hospitals Grapple With Cuts

Monday, December 07, 2009

Although New York lawmakers didn't trim the state's deficit as much as Governor Paterson would have liked, they still approved cutting about $200-million in healthcare spending.

LaRay Brown, with New York City's Health and Hospitals Corporation, says that will mean $8.4 million less for the city's ...

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WQXR News

Unemployment Rate Falls to 10 Percent

Friday, December 04, 2009

The nation's unemployment rate unexpectedly fell to 10 percent last month from 10.2 percent in October as employers cut the smallest number of jobs since the recession began.

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The Takeaway

Overhauling States' Stretched Unemployment Funds

Friday, December 04, 2009

The Bureau of Labor Statistics will release November's unemployment numbers this morning; most observers expect unemployment to rise once again. Millions of Americans are either un- or under-employed, and many are making ends meet with unemployment checks. Some of the state unemployment funds paying those checks, however, are going bone dry. Carl Guzzardi, tax director for the Connecticut labor department, says the state is having to borrow billions of dollars. The Ford Foundation is helping many states overhaul their unemployment systems; Director of Quality Employment Helen Neuborne joins us to describe their efforts. And Georgia's Labor Commissioner, Michael Thurmond, discusses Georgia's attempts to overhaul their unemployment system.

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WNYC News

MTA Criticized for Countdown Clocks for Bus and Subway

Friday, December 04, 2009

An influential Long Island lawmaker is criticizing the MTA's decision to install countdown clocks throughout the bus and subway system. At a hearing yesterday on the authority's capital plan, State Senator Craig Johnson said he had a tough enough time voting for a new payroll ...

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WNYC News

Guilty Plea in NYS Pension Probe

Friday, December 04, 2009

An investment manager has pleaded guilty to bribing managers of New York State's pension fund, in order to get its business. Elliott Broidy, chairman of Markstone Capital Partners, made nearly $1 million in gifts to state workers and their families. WNYC's Lisa Chow reports.

REPORTER: New ...

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WNYC News

New Battle Over Paterson's Plan of Unilateral Budget Cuts

Friday, December 04, 2009

A new quarrel has opened up between Governor Paterson and state senate Democrats. They say his plan to unilaterally cut payments to schools and local governments this month is unconstitutional. Karen DeWitt reports.

REPORTER: Governor Paterson has wasted no opportunity to condemn the legislature's budget-balancing package ...

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WNYC News

Brighter Outlook for NYC's Economy: IBO Report

Friday, December 04, 2009

A new report is offering better financial news for the city. The Independent Budget Office now says there will be about 100,000 fewer job losses, and higher tax revenues, than it predicted last spring.

Director Ronnie Lowenstein says Wall Street firms made unprecedented gains, earning a ...

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WNYC News

Hope on the Economic Horizon

Thursday, December 03, 2009

Finally, a bright spot on the economic horizon for New York City. A new report by the Independent Budget Office says the city's fiscal outlook isn't as bad as it appeared last spring, and that the financial sector is making a comeback.

The IBO projects record Wall Street profits ...

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