Robert Sarnoff , the CEO of RCA before it was absorbed by GE, once said, “Finance is the passing of money from hand to hand until it disappears.” That process is very clearly defined in The Age of Greed by Jeffrey Madrick. It recounts, in concise terms, how a few dozen individuals—some in the private sector, some in government--brought us to our current economic pass, in which finance seems to have been completely detached from life. Names from the past come back, and their crimes are explained. Ivan Boesky, Michael Milken, and Dennis Levine look guiltier in the retelling than they did in the newspapers at the time. And in this telling, the philosopher king of the new finance was Walter Wriston, CEO of Citicorp. read more »
Census 2010 gave the detail behind what we’ve known for some time: America is becoming an increasingly diverse place. Not only has the number of minorities simply grown nationally, but the distribution of them among America’s cities has changed. Not all of the growth was evenly spread or did it occur only in traditional ethnic hubs or large, historically diverse cities. read more »
During tough economic times, technology is often seen as the one bright spot. In the U.S. this past year technology jobs outpaced the overall rate of new employment nearly four times. But if you’re looking for a tech job, you may want to consider searching outside of Silicon Valley. Though the Valley may still be the big enchilada in terms of venture capital and innovation, it hasn’t consistently generated new tech employment. read more »
The 2010 Census results were mostly bleak for cities, especially for those who believed the inflated hype about the resurgence of the city at the expense of the suburbs. Despite claims of an urban renaissance, the 2000s actually turned out to be worse than the 1990s for central cities. The one bright spot was downtowns, which showed strong gains, albeit from a low base. The resurgence of the city story seemed largely fueled by intra-census estimates by the government that proved t read more »
In defiance of the conventional wisdom in the national media and among most planning professionals, Americans continue not only to prefer, but to move into single family detached houses. Data from the 2010 American Community Survey indicates that such housing attracted 79.2% of the new households in the 51 major metropolitan areas (over 1,000,000 population) over the past decade. read more »
As we indicated in the last article, solo automobile commuting reached an all time record in the United States in 2010, increasing by 7.8 million commuters. At the same time, huge losses were sustained by carpooling, while the largest gain was in working at home, which includes telecommuting. Transit and bicycling also added commuters. This continues many of the basic trends toward more personalized employment access that we have seen since 1960. read more »
Observers and advocates on Long Island — New York's Nassau and Suffolk counties — have repeatedly used age group population estimates to bolster land use policies based on their preferred narrative. The assumption? Young adults are moving away from the region in large numbers due to the high cost of living, particularly housing prices. So, the story goes, the suburban pattern must be broken, and small, high density housing units must replace detached, single-family homes as the dominant urban form if young adults are to be retained. read more »
The Republican victory in New York City’s ninth congressional district Sept. 13 — in a special election to replace disgraced Rep. Anthony Weiner — shocked the nation. But more important, it also could have signaled the end of the idea, propagated by Mayor Michael Bloomberg, of New York’s future as a “luxury product.” read more »
On September 7, 2001, a Friday, the communications staff of New York City Mayor Rudolph Giuliani gathered to plan for the week ahead. I had joined the Giuliani administration the previous April as a speechwriter, one of three on the mayor’s staff.
The biggest event on the schedule was the primary election on Tuesday, September 11, when New Yorkers would choose each party’s nominee to succeed Giuliani. The mayor would be casting his own ballot at Public School 66 on East 88th Street at 7 a.m., followed by a fairly routine round of staff meetings. read more »
Ground Zero Tolerance: With No Politician Willing to Take Charge, the 9/11 Recovery has Dragged on Far Too Long
This piece originally appeared in the Village Voice.
A decade into its unhappy and unexpectedly long life, Ground Zero has undergone its annual if short-lived transformation from New York politicos' red-headed stepchild to belle of the ball, at least until September 12. read more »