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Economy

WNYC News

Council Hearing Begins on Coney Island Rezoning

Wednesday, July 01, 2009

It's going to be a long haul. One of Mayor Bloomberg's more controversial rezoning plans goes before the City Council for a public hearing today.

The Bloomberg administration wants to rezone about 20 blocks of the Coney Island waterfront to allow apartment towers and hotels as ...

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WNYC News

States May Probe National Banks For Discrimination

Tuesday, June 30, 2009

The Supreme Court ruled yesterday on a case that pitted state attorneys general against national banks and their federal regulator. In a five to four decision, the Court ruled that states can enforce their own fair-lending laws against national banks, if they go through the ...

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WNYC News

A Green Light for State Attorneys General

Tuesday, June 30, 2009

The Supreme Court ends the OCC’s exclusive oversight of national banks. Guest: Sarah Ludwig, co-director of the Neighborhood Economic Development Advocacy Project

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The Takeaway

Spend or Save? The Paradox of Thrift

Monday, June 29, 2009

New figures from the U.S. Department of Commerce show that in May, Americans saved more of their income than they have since 1993. But the only way to get a floundering economy to pick up is for people to spend their money rather than hold onto it. Wall Street Journal Reporter Kelly Evans talks to The Takeaway about this paradox of thrift.

"Having more of that money in the U.S. available for businesses to invest and to be loaned back out reduces our dependence on other sources of that income, particularly foreign sources of that borrowing that's also been part of the boom."
— Kelly Evans on the importance of spending

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WNYC News

About That Picasso in the Basement

Monday, June 29, 2009

Museums consider selling parts of their permanent collections, some in Albany want to put an end to it. Guest: Robin Pogrebin of The New York Times.

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WNYC News

Senate Democrats Urge Republicans to Vote on Stimulus Bills

Monday, June 29, 2009

Democrats say they want to table any questions about the leadership of the State Senate until next month and they're urging Republicans to join them in tomorrow's special session to vote on several bills worth $7.2 billion in federal and stimulus package spending. A bill ...

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WNYC News

City Launches "Big Apps" Competition

Monday, June 29, 2009

The city is hopping on the iPhone "app" bandwagon. Mayor Bloomberg is hoping software developers will take new data the city's posting online and turn it into applications for fun and profit. Take restaurant inspection grades.

BLOOMBERG: I think somebody could create an iPhone app that ...

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WNYC News

NYC to Charge Taxes on Internet Hotel Bookings

Monday, June 29, 2009

Mayor Bloomberg will sign a bill into law today that should bring in a lot of additional tax revenue for the city. The measure affects the booking of hotel rooms over the internet. The bill requires travel sites to always pay taxes on the full ...

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WNYC News

Xanadu Company Also Involved with Neverland Ranch

Monday, June 29, 2009

The company responsible for the stalled $2 billion Xanadu project at the Meadowlands, is also central to the fate of Michael Jackson's Neverland Ranch. WNYC's Bob Hennelly has more.

HENNELLY: Colony Capital came to the rescue of the late singer in May of last year when ...

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WNYC News

Madoff Ordered to Forfeit Assets

Saturday, June 27, 2009

A Manhattan judge has ordered Bernard Madoff to forfeit over $170 billion. The ruling divests Madoff of all his assets, including his real estate in New York and elsewhere, his investments, cars and boats. The government can now take possession of all the financier's holdings, ...

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WNYC News

Carpenters Union Agrees on Pay Cuts

Friday, June 26, 2009

Thousands of the city's unionized construction workers have agreed to accept lower wages for the promise of more work. The latest concession goes further than a labor agreement from last month that froze wages and limited overtime.

The Building and Construction Trades Council wouldn't give out ...

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WNYC News

Buildings Department Find Inspection Procedures Spotty

Friday, June 26, 2009

An internal report by the city's Buildings Department found inspectors are poorly trained, and their inspection procedures vary from person to person. On his weekly radio show this morning on WOR, the mayor responded to the findings.

BLOOMBERG: We have to take a look and see ...

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The Takeaway

In the Fine Print: The Merrill Lynch-Bank of America Deal

Thursday, June 25, 2009

On Capitol Hill, Bank of America’s acquisition of Merrill Lynch is coming under serious scrutiny. Fed Chairman Ben Bernanke is going before the committee today as lawmakers say the Fed hid some unsavory parts of the deal from other agencies in order to make the merger go through. Bank of America received billions in federal bailout funds as it struggled to absorb Merrill’s financial liabilities. For more of the story, The Takeaway talks to Peter Morici, professor of international business at the University of Maryland.

"There is always pressure present when a private company negotiates with the government."
— University of Maryland Professor Peter Morici

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The Brian Lehrer Show

Getting Skilled

Thursday, June 25, 2009

Richard Sennett, a professor of sociology at NYU and the London School of Economics and author of several books including The Craftsman, on why skilled workers with real-life experience in certain industries are still in high demand despite the recession. Do you have skills envy or skills ...

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WNYC News

City Buys 30 Acres at Hunter's Point South

Thursday, June 25, 2009

A new Queens neighborhood is officially in the works. Mayor Bloomberg announced today that the city has acquired 30 acres at Hunter's Point South in Long Island City, an area that's now mostly vacant. The mayor says it's actually a good time to move forward ...

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WNYC News

What’s In A Name?

Thursday, June 25, 2009

The MTA collects $4 million on its first station-naming rights deal. Guest: WNYC’s Ilya Marritz

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WNYC News

Did the Mortgage Crisis Kill the American Dream?

Wednesday, June 24, 2009

Alyssa Katz, journalist, professor of journalism at NYU and the author of Our Lot: How Real Estate Came to Own Us talks to Brian Lehrer about real estate mania and the mortgage crisis.

Listen to the entire interview:

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WNYC News

On This Day...in 1930

Wednesday, June 24, 2009

You could waste a lot of time tracing history's tragedies and ironies with News from 1930, a brilliant website that offers news items from the last time the economy was in tailspin. Here's just a little of what was happening 79 years ago on June 24:

Senator Glass is ...

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WNYC News

Atlantic Yards Hearing Draws Overflow Crowd

Wednesday, June 24, 2009

At the MTA headquarters dozens of people have signed up to speak for or against the new deal for the Atlantic Yards development in Brooklyn. There are so many spectators that the MTA has opened an overflow room with a closed circuit television. The board is expected to sell a ...

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The Takeaway

Iran, Health Care— and Smoking: Takeaway Roundtable

Wednesday, June 24, 2009

When President Obama spoke to the nation yesterday he touched on everything from the ongoing political turmoil in Iran to health care here at home to his trouble quitting smoking. These are issues that affect communities all over the country, so we're checking in with some of our partner stations this morning to help us take the pulse of America. The Takeaway is joined by Jerome Vaughn, news director at WDET in Detroit, Joshua Johnson, anchor with WLRN Miami Herald News, and Marc Steiner who hosts the Marc Steiner show on WEAA in Baltimore.

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