One of the most enduring myths in public policy is that local government consolidations save money. The idea seems to make sense, and most of the academic studies support the proposition. However, rarely, if ever, does the promised reduction in public expenditures or taxes actually take place. read more »
The Empire Center for New State Policy has released “Empire State Exodus,” which details New York’s continuing loss of people and their incomes to other states. The report was authored by E. J. McMahon, senior fellow with the Manhattan Institute and director of the Empire Center and me. read more »
Last month, an old elevated train track on Manhattan's west side was re-opened to the public as a public park. The High Line was a 1.5-mile stretch of track constructed in the 1930s to carry freight trains. The last train ran on the platform in 1980 and the space has been the subject of battles ever since between park-minded preservationists and residents who wanted to tear down the steel monstrosity with no apparent function. read more »
The amount of private sector jobs in Manhattan has been declining since 1958, according to the Center for an Urban Future. An increase in job-spread among the other four boroughs – Queens, Brooklyn, the Bronx, and Staten Island – has led to a shift in the New York City job market. read more »
President Obama’s recent executive compensation plan comes on the heels of the revelation that Wall Street firms awarded over $18 billion in bonuses last year. The plan will create a $500,000 pay cap for executives at companies receiving substantial taxpayer bailout money. read more »
Even before the Wall Street meltdown, the New York area was going through its own de-clustering. No it hasn't - and probably never will - become a multi polar area in the style of Los Angeles, Houston or Phoenix, but the trend to deconcentrate jobs has been inexorable over the last thirty years, according to a new report by our friends at the Center for an Urban Future.
The report states: read more »
Anyone in New York recently can see that the swagger is now gone. With the economy losing its primary engine - a relative handful of financial hotshots- the whole plutonomic system seems to be under major stress. The state and city budgets also seem to be heading south in a big way. read more »
There's a very pretty slide show in this recent article in the New York Times showing different backyards throughout the city's boroughs. No matter how small the area, there resides an amazing level of appreciation for having one's own area of greenery.
Though many planners call for increased density, many neighborhoods are in favor of "down-zoning." You flip through this slide show and it's easy to see why.
Baseball and football, America's great everyman sport, won't be that way much longer for fans in the Big Apple. Glittering new stadiums for the Yankees, Mets and one which the Jets and Giants will share aren't exactly meant for the "dollar dogs" crowd. read more »
The Chicago Tribune reported recently on the state of the finance industry in the Chicago area. Reports indicate smaller, more nimble finance companies in Chicago are tapping an exodus of traders, bankers and investment managers: read more »