New York

America Has No Cause to Fear Political Dynasties

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It’s been a tough winter for those concerned about dynastic politics.

One-time First Daughter Caroline Kennedy is angling for a Senate appointment from the governor of New York. In Delaware Vice President-elect Joe Biden tapped a longtime aide as a placeholder for the Senate seat he will soon vacate, so his son, state Attorney General Beau Biden, will have a leg up in the 2010 special election. And an oft-mentioned Colorado Senate replacement for Interior Secretary-Designate Ken Salazar is his brother, Rep. John Salazar.  read more »

Subjects:

Good-Bye, Gentry

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The proposed investiture of Caroline Kennedy as the replacement senator for Hillary Clinton has inspired a surprising degree of opposition – at least from other claimants to the throne, such as the Cuomos, and from those obstreperous parvenues, the Clintons.

Perhaps less obvious may be a wider disdain expressed by even liberal New Yorkers who feel Kennedy's elevation may be one celebrity rising too many. Although the big New York editorial boards are expected to line up, like so many obedient lap dogs, grassroots dissent seethes.  read more »

King Bloomberg: New York City Mayor Run Amok

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When Mayor Bloomberg deployed his vast personal and political power to overturn the term limits law, he began to demystify the public relations image he had purchased at considerable expense.

It was only then that New Yorkers began to recognize the danger of making Gotham's wealthiest man its chief executive. That recognition is the reason his approval rating slipped by nine points in the latest Marist poll. The public chose a mayor; they didn't expect an elected monarch.  read more »

Island of Broken Dreams

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A The New York Times editorial wonders why foreclosure rates are so high in the two Long Island counties it rightly calls the “birthplace of the suburban American Dream.” After all, the area has “a relative lack of room to sprawl.” which in Times-speak should be a good thing, since “sprawl” is by definition both bad and doomed.

Yet it is precisely the constraints on new housing that has served as a principal cause for Long Island problems.  read more »

Two-Timing Telecommute Taxes

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Telecommuting — or telework — is a critical tool that can help employees, businesses and communities weather the current financial crisis, and thrive afterward. However, right now, the nation is burdened with a powerful threat to the growth of telework: the telecommuter tax. This tax is a state penalty imposed on Americans who work for employers outside their home states and sometimes telecommute.  read more »

No More Urban Hype

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Just months ago, urban revivalists could see the rosy dawn of a new era for America's cities. With rising gas prices and soaring foreclosures hitting the long-despised hinterland, urban boosters and their media claque were proclaiming suburbia home to, as the Atlantic put it, "the next slums." Time magazine, the Financial Times, CNN and, of course, The New York Times all embraced the notion of a new urban epoch.

Yet in one of those ironies that markets play on hypesters, the mortgage crisis is now puncturing the urbanists' bubble. The mortgage meltdown that first singed the suburbs and exurbs, after all, was largely financed by Wall Street, the hedge funds, the investment banks, insurers and the rest of the highly city-centric top of the paper food chain.  read more »

Gentrification from the inside out in Brooklyn's Ditmas Park

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Twenty some years ago my husband, 2 young sons and I moved from our cramped 16-foot wide attached row house in Brooklyn’s trendy Park Slope to a free-standing, 7-bedroom Victorian house in the Ditmas Park section of Flatbush with stained glass windows, pocket doors, original wood paneling, a back yard, front porch, driveway and 2-car garage in a little-known, tree-lined neighborhood about 10 minutes away – on the other, high-crime side of Prospect Park. Friends thought we’d taken leave of our senses!  read more »

Rebuilding the Idea of the City: The Present Crisis in Perspective

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New York long was a product of the harbor economy. Before there was a Times Square or a Grand Central Station, Lower Manhattan, then ringed with docks, was oriented to the railroads and factories of the Jersey coast to its west and the merchants and manufacturers of Brooklyn across the East River. The decline of Lower Manhattan as an economic engine is in large measure a reflection of the fall of that harbor economy as first Manhattan and then its partners in Brooklyn and Jersey City de-industrialized.  read more »

A New Model for New York --- San Francisco Anyone?

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From the beginning of the mortgage crisis New York and other financial centers have acted as if they were immune to the suffering in the rest of country. As suburbs, exurbs and hard-scrabble out of the way urban neighborhoods suffered with foreclosures and endured predictions of their demise, the cognitive elites in places like Manhattan felt confident about their own prospects, property values and jobs. So what if the rubes in Phoenix, Las Vegas, Tampa and Riverside all teetered on the brink?  read more »

New York City Bracing for Lehman's Demise

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With the sale of Lehman Brothers seen as imminent — possibly as soon as this weekend — New York's commercial real estate market is bracing itself for the loss of a key financier responsible for tens of billions of dollars in commercial loans.

"It would be one less major player," a commercial real estate finance expert at New York University Schack Institute of Real Estate, Lawrence Longua, said. "It is probably more of a psychological effect, but it is one more piece of bad news."  read more »