Monday, April 04, 2011
NYT's David Sanger weighs in on Yemen's president, U.S. diplomacy and military action in the Middle East, and how economic indicators will come into play in President Obama's re-election campaign.
Friday, February 25, 2011
[UPDATE: On Friday morning, Governor Scott asked USDOT Secretary Ray LaHood for another week to consider the proposal for an interlocal entity, the potential compromise described below.]
(Matt Dellinger, Transportation Nation) Florida Governor Rick Scott will make no formal announcement about his final decision to kill the Tampa-to-Orlando high speed rail line, his spokesperson told the Tampa Tribune. It seems that the people of Florida and the nation will have to settle for a brief interview Scott gave to a local Fox News affiliate. “I’m not convinced that project is a good project," he said. "There’s a significant risk of cost overruns for construction. Historically that’s what’s happened with those projects.”
Neither the reporter, Derrol Nail, nor the Governor seemed to appreciate the irony that these remarks were delivered at the Kennedy Space Center, where Discovery departed on its final mission yesterday. NASA's shuttle program, a rather expensive mode of transportation enjoyed by only a few, has nevertheless brought great economic development to the region, and the winding down of the shuttle program will mean layoffs: United Space Alliance, for instance, has announced that 548 workers at Kennedy will lose their jobs come April.
Constructing America’s first high speed rail line in Florida, while not as difficult as building a space station, would more than make up for that dip in employment. Senator Nelson, who was also on hand at the launch, told Fox that the Governor “has made a mistake that’s going to cost people 24,000 jobs in the immediate future.” The Senator’s official statement yesterday pulled no punches. Nelson called the Governor’s decision to reject $2.4 Billion in federal high speed rail funds “pitiful,” “a monumental mistake,” and “hasty and ill-informed.”
Scott’s spokesperson held firm, insisting that “the governor remained principled in his position in protecting Florida taxpayers.” And indeed, principle appeared to play a larger role than practicality.
Wednesday, February 16, 2011
New York City Council Speaker Christine Quinn talks about some of the ideas in her State of the City address, including plans for budgeting, jobs, and parking.
Tuesday, February 08, 2011
Andy Kessler, hedge fund manager who cofounded Velocity Capital Management and the author of Eat People: And Other Unapologetic Rules for Game-Changing Entrepreneurs, says entrepreneurs who eliminate jobs in the short term help workers and the economy in the long term.
Monday, February 07, 2011
Egypt will likely dominate the headlines all week, with everyone waiting to see if President Hosni Mubarak will cede to the wishes of the protesters and step down. Calli Crossley, host of The Callie Crossley Show on WGBH in Boston, looks at what's ahead this week for the people of Egypt and its government. Charlie Herman, economics editor for The Takeaway and WNYC in New York, looks at the potential impact the uprising in Egypt could have on the price of oil, and on how it could impact trade on the Suez Canal.
Friday, February 04, 2011
(Andrea Bernstein, Transportation Nation) A new report from Smart Growth America analyzes data released by the House Transportation and Infrastructure Committee and finds that for every billion dollars spend under the American Reinvestment and Recovery Act -- the stimulus bill -- on roads, 2.4 million job-hours were created. But for every billion spent on transit, 4.2 million job hours were created, a seventy percent increase.
The report defines "job-hour" in a footnote as an hour worked, which it says is a more meaningful figure than "a job" since the latter gives no indication of the duration of the job.
It's one of an expected flood of reports on all sides as partisans prepare to do battle on the next reauthorization bill, set to be introduced in the near future.
The Obama Administration is increasingly positioning to discuss the transportation bill as a jobs bill.
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Thursday, February 03, 2011
Madoff Saga Continues
Bernie Madoff has been in jail for more than two years, but we haven't heard the last of the shakeout from his Ponzi scheme. The trustee trying to recover money for bilked investors said executives at JP Morgan Chase knew there were concerns that he was running a massive fraud but ignored the warnings. A lawsuit filed in December has just been unsealed. It says the trustee is seeking $6.4 billion from JP Morgan. The bank said the suit is "meritless" and "based on distortions of both the relevant facts and the governing law."
Monday, January 31, 2011
Hundreds of thousands of Egyptians are still in the streets to call for an end to the three-decade rule of President Hosni Mubarak. At issue for many protesters is the dire standard of living. How can a new government make things better? And here at home, as the country is trying to pull itself out of a recession, we look at whether unrest in Egypt have an impact on the American economy?
Wednesday, January 26, 2011
Robert Steel, New York City Deputy Mayor for Economic Development and former CEO of Wachovia, talks about initiatives to grow businesses and jobs in New York.
Friday, January 14, 2011
(Andrea Bernstein, Transportation Nation) This study comes to us via Ray LaHood, the U.S. Transportation Secretary. It's brief -- but by giving it the imprimatur of his blog, U.S. Transportation Secretary Ray LaHood is forcing us to pay attention.
The Political Economy Research Institute, a University of Massachusetts, Amherst-linked public policy group, looked at 2008 data from Baltimore, and found that while road projects created about 7 jobs per million dollars spent, bike projects created 11-14 jobs per million, and pedestrian projects, 11.
The report says this is because bicycling and pedestrian projects have a high ratio of engineers to construction workers, and that engineering jobs are both more labor intensive and have a great "multiplier" effect -- meaning each engineering job creates more demand for labor in supporting positions, like clerical jobs.
We are fascinated that LaHood is calling this to our attention, particularly at a time when road builders are giving a bit of a sneer to the Obama livability agenda.
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Monday, January 10, 2011
(Detroit -- Jerome Vaughn, WDET) Ford Motor Company says it is adding 7,000 jobs to its workforce by the end of 2012. Ford President of the Americas Mark Fields made the announcement during the North American International Auto Show in Detroit on Monday.
“This year alone, Ford is adding nearly four thousand jobs at our U.S. plants. And we plan to add another 750 salaried jobs.” Fields says the Dearborn automaker plans to add another 2,500 additional manufacturing jobs in the U.S. next year.
Friday, January 07, 2011
By Charlie Herman : Business and Economics Editor
Chalk up the December jobs report as another “good, but” story that has come to dominate the theme of economic stories over the past year.
Thursday, January 06, 2011
In what is potentially a sign of good economic news, the number of American workers willing to describe themselves as dissatisfied with their jobs seems to be climbing. This comes from an admittedly unscientific online survey of over 1,400 people, each currently employed, by the management consulting firm “Right Management." 84 percent of respondents said that they plan to actively seek a new job this year. That's up from 60 percent in a similar poll conducted a year earlier. In the poll, only five percent said that they plan to remain in their current positions all year long.
Friday, December 17, 2010
By Ilya Marritz
In November, private employers added 14,000 jobs in New York City. The State Labor Department says it's a decent result, if not spectacular. Some of the biggest job gains were in temporary holiday retail and delivery work. Many of the people who've found a job this season are either selling gifts or distributing them.