Thursday, February 10, 2011

Wall Street Owned by A German Company: Game Changer for NYC

Who Lost Wall Street?
Frankfurt Exchange in Talks to Take Over N.Y.S.E. (NYT)

After 219 years as the citadel of American capitalism, the New York Stock Exchange was near an agreement to be acquired by A German company Deutsche Börse in a deal that would create the world's largest financial exchange (WSJ) Germans in Talks to Buy Big Board Not one pol has spoken on the take over not even the billionaire mayor. Senator Schumer leads fight to ban bath salts.

It is unreal that the press is not examining what would happen if and when the sale of the NYSE goes through.  How could the city call itself the "Banking Capital of the World" if the stock exchange is owned by a German company. It is without question that the takeover would mean less jobs for the city. Everyone know it is more expensive to do business in the city and it would be expected that the new owners would look to place jobs in less expensive cities or nations. 

When World Collide
If this deal goes through it is a Worlds Collide Event for New York Politics.  Many of the pols in the City Council and in Albany want to reduce the deficit with continuing the millionaires tax.  If the German's take over the NYSE many of the high paying jobs would be moved out of the city and the city budget which get 30 to 40% of its taxes from wall Street would be in ruins.  Just to demonstrate who out of step this rapid change has caused the NYT has a story how a union will pressure Wall Street and not the Cuomo to prevent cutback to it members Public-Worker Unions Skip Albany Ad Blitz for New Tactics (NYT) * Two New York City Unions are preparing to sue JPMorgan Chase.

German Stock Exchange

Bloomberg sides with the Art of the Deal says NYSE deal "very good" for New York See nothing wrong with a German company owning 60% of the NYSE

True News PM News Update 
News After the morning Papers
Report: Mubarak could step aside as soon as tonight and delegate powers to vice president (NYT) * BREAKING: *Egypt updates: Mubarak's departure under discussion, prime minister tells BBC (Wash Post)

4PM Update Shocker Mubarak Stays President Mubarak Doesn't Resign, Cairo's Square Erupts with Anger *  Dictators' Sons, From Egypt to Libya, Are Doomed (Yahoo News) * Hosni Mubarak Will Not Resign (Village Voice)
* Mubarak Refuses to Step Down (NYT) * March to palace being organized *NYTimes Roger Cohen to Wolf Blitzer: "a huge case of bait and switch"** 8PM In written statement, Pres. Obama says "it is not yet clear" that the "transition" in Egypt "is immediate, meaningful or sufficient." WH Statement 

Lippman Backs Public ‘Trial For Judges’ (YNN) * Legislature Shooting For An On-Time Budget (YNN) * That's Professor Paterson To You (And Me) (NYU) * Feds add murder charges in crackdown on Latin Kings gang (NYP) * Skelos wants pension reform in budget talks (Crains NY) *SUNY, CUNY push for tuition hikes, business deals (NYP) * Union Funding: Cuomo, Silver, Skelos and Quinn have not taken sides on Bloomberg’s fight with police & firemen. (New York Post) *  And Scott Stringer – the Manhattan borough president and prospective 2013 mayoral candidate – is slamming Mayor Bloomberg for “outrageous” comments about pension payments he’d like the city to stop paying. (WNYC) * Who Will Fill One WTC? * Bloomberg Set Up Lobbying Group To Block Comcast-NBC Merger: Report


Mario Cuomo HS Team

Super Mario Will Try to Save Mr. Met Owners

Former New York governor Mario Cuomo to mediate legal fight between Mets and Madoff victims trustee (DN)


Citytime Consultant in City Fraud Case Pleads Guilty 

One of four consultants charged in an $80 million scheme to manipulate the city into steering contracts for an automated employee timekeeping program to businesses they controlled pleaded guilty this week to bribery and other crimes and agreed to cooperate with the authorities (NYT)


Lee Gets Edwards

An Internet Gossip Site Got Him

It wasn't a New York Times or a Newsweek who brought down Congressman Chris Lee, but an Internet gossip site who received an email from the woman that placed the ad Lee answered.  And this time the main stream media did not protect the congressman like they did in the old days or wait for months like they did when the Enquirer exposed John Edwards secret family and illegal campaign spending on his girlfriend.  The media and bloggers spread the story all over the Internet minutes after Gawker published it on they site.  


"I Think I have A Lot of Explaining to Do For My Wife"      Congress Lee Yesterday Before He Resigned

It took less then a few hours after Gawker exposed Lee's Craigslist reply to a woman's ad for a man with a good body, for the congressman to resign.  This morning there are over 1000 stories by the media on Google News on the Lee story.  Each story is mostly the same and a great example of the copycat style of the media in the Internet age.

Lee's Timeline: At about 2 PM., Gawker posted the Chris Lee story. By 4 PM, the story had hit the NY Daily News, New York magazine, Daily Kos and a host of other blogs. Soon, Lee's name appeared as one of the top 10 topics discussed on Twitter. At 5 PM, Lee resigned from Congress. Talk about compressed news cycle—it’s no longer 24 hour cable news, it’s now just a few hours on the net.  How Gawker Got the Story that Brought Down Lee WBEN 930 * Gawker's Scoop Draws Eyes to a New Format (NYT) * On Internet, incidents play out swiftly, compared with pastBuffalo NewsNew York Congressman Resigns Over E-Mails (NYT) * New York Rep. Lee Resign (WSJ) * Rep. Christopher Lee resigns after topless pic sent to Craigslist gal pal (DN) * Under New York law, a special election must be held between 30 and 40 days after the governor issues a proclamation. But state law does not specify how soon such a proclamation must be issued. (Fox) * It’s unclear exactly how the process will be handled, but according to Census data, New York will lose two seats in Congress. New lines must be in place for the 2012 election, and it’s unclear whether they’ll be drawn in a non-partisan way or in the partisan Battle RoyaleCapCon) that has characterized New York redistricting for decades.  (CapCon) * Rep. Chris Lee resigns hours after Craigslist flirtation report (Wash Post) * 'Wife-cheater' pol is exposed! (NYP) * * Fox News called his fall “Supersonic.”  *Blogger Who Busted The “Craigslist Congressman” Talks To CNN’s Piers Morgan (Mediaite) * Chris Lee Warned About 'Dangers Of The Internet' In Op-Ed (VIDEO) (Huff Post)


Bloomberg Punching Bag Triangulation Message
The mayor who has been through a rough patch the last few months is an easy target for the unions to attack to send a message to Cuomo and legislatures not to mess with them

Mike hits whining motorists 

Motorists grumbling about the double winter whammy of potholes and parking tickets didn't get much sympathy yesterday from Mayor Bloomberg. (NYP)



Mayor Bloomberg's Gift Of Gab Fails Him With Comment About "Inebriated Irish": Report

Irish Eyes Not Smiling Over Bloomberg Remark(NYT) * Bloomberg's 'jokes' get boo-birds from historical society audience  * Mike Bloomberg Insults the "Inebriated Irish"; the Inebriated Irish Are Angry (Village Voice)

Newt suggests Bloomberg 'psychological problem'(Politico)

Teacher Seniority
Both the Daily News and NYP report negotiations are going on between Cuomo and Silver Reason for hope Secret talks in Albany both Silver and the governor want layoffs made through "a system that is based on objective criteria * I am workin' with Bloomy on teachers, says Cuomo (DN) * Support growing for much-needed change to merit-based approach to teacher layoffs if they are needed (DN Ed)* UFT tactic on ratings (NYP) * Many school districts * Cuomo = Mr. Fantastic? Silver = Dr. Doom? * Cuomo is arguing that most schools have enough money in their reserve accounts to cover his proposed $1.5 billion aid cut and that the reductions make up less than 3% of schools' overall spending. (IJ) * If a coalition is successful in getting a waiver revoked, Cathie Black will have to step down as schools chancellor because she has no educational experience. *  15% of High School Seniors Passed an A.P. Test Last Year (NYT) * New York Gains on AP Exams(WSJ) * Education Reform Now Enlists Teachers In LIFO Ad (YNN) * Schools Use Celebrity Wake-Up Calls to Battle Truancy (NYT) * In a growing rift between the city and the teachers union, the president of the United Federation of Teachers yanked his participation in a national conference set for next week in Denver featuring the country's education chief, Arne Duncan. (WSJ)

Shame on WCBS

Victim’s Mother Shames CBS2 for Using Traffic Death to Bolster Carl Kruger(Street

Long Island College Hospital In Danger Of Closing: Long Island College Hospital in Brooklyn may be forced to close... 






 Cuomo Promise Push

Cuomo Says He’ll Push for Vote to Legalize Same-Sex Marriage(NYT) 


Pilots Union in Shift on Garbage Plant(WSJ)

Trash Attract Geese 

Geese Take Down Planes


2 former NY employees plead guilty in bribe scheme Fraud and bribery in a scheme to arrange city funding and permits for day care centers. (WSJ)




Disgraced ex-pol Hiram Monserrate is trying to short-change his autistic son, ex-wife claims (DN) * Former Official:( “Court records show Monserrate owns a $130,000 apartment with a $74,000 mortgage, and owes $14,000 in credit card bills, $10,000 for a car lease, $8,000 instudent loans and $22,000 intaxes.” 

Ex-State Sen. Pedro Espada, Jr.'s Problems Far From Over 


City's Buy GPS System, But Does Not Program It For Ambulances to Use It Properly 

Ambulances have GPS, but only to track their location; must use paper maps for directions That's because the global positioning systems are designed only to let the FDNY keep track of the rigs, not provide directions on the ground. (DN) * Ambulance GPS Systems Don't Provide Directions (NY1)




More Holland Backup

Manhattan-bound motorists exiting the Holland Tunnel will experience more headaches Monday as construction closes one of the main routes drivers use to head uptown. Workers are in the middle of a six-year, $59.5 million project to connect the decades-in-the-making third New York City water tunnel to local pipes in TriBeCa.  Water Works Traffic Jam(WSJ)


Judge hotel suite sorrow (NYP)

The verdict is in: A financial crisis is no time to burn millions of taxpayer dollars on a luxurious "hotel" for judges. * Cuomo asked the court system to trim its budget by ten percent, but the Office of Court Administration instead turned in a plan that asks for an overall increase of around two percent.


For Whom the Bell Tolls 

"The New York pension funds would undergo             massive write-downs in the future"                     Former Governor Paterson

 Both the state and the city face the danger of the bond raters lowering the city and state ratings like they did in NJ. Cost millions more in interests payments.Bond Rating Drop Ignites Pension Fight(WSJ)



Race Directors Raise Concern Over Proposed Police Fee (NYT)





The Developer's Tax Break (Gotham Gazette)

Law and Order Queens Little League Coach Is Accused of Sex Assault (NYT) * Judge’s Rush for Vacation Marred Murder Trial, Appeals Lawyer Argues (NYT) * City Settles Suit in Death of an Inmate (NYT) * Man found shot dead outside NYC building(WSJ) * Little League coach charged with molesting three of his players (DN) * Man found shot dead outside Upper Manhattan apartment building (NYP) * Fallen Starr is abandoned (NYP) * 'Hasid' vid is DA's exhibit oy (NYP) * Feds add murder charges in crackdown on Latin Kings gang (NYP) * Murder in Mott Haven: Two Slugs in the Belly (Village Voice) * Woman shot in the head in Long Island City pharmacy (DN)

Terrorism   Efforts to weaken the Patriot Act are crazy when threat of terrorist attacks is as strong as ever (DN Ed)

Media and New Tech Twitter's Suitors Talk In Billions(WSJ)  * Obama Says Plan to Expand Wireless Access Is Critical (NYT) *Random House Signs Deal For Book On The Rise Of Fox News *Time Also Publishes Fake Sarah Palin Comment About Christina Aguilera



Digging a Hole Instead of a Tunnel Gov. Chris Christie canceled plans for a commuter rail tunnel between New Jersey and New York that would have created jobs and relieved congestion. (NYT)