Mayor Michael Bloomberg today took aim at the city’s rising pension and health costs, calling what he dubbed the “labor-electoral complex” the most pressing threat to New York in the final major speech as mayor.
Speaking in a grand ballroom in front of members of the Economic Club of New York, Mr. Bloomberg said that exploding health and pension benefits for municipal workers threatened to undermine the city’s progress and urged his successor, Bill de Blasio, to push through reforms.
Mayor Michael Bloomberg has thus far remained mum on his favored candidate for mayor, but Anthony Weiner is pretty confident he’s got it locked down.
“I think that the mayor, were he a Democrat, would vote for me in the primary and I expect him to vote for me in the general,” declared Mr. Weiner, speaking to reporters at a press conference on parking on the Upper East Side, following a raucous forum at Hunter College.
Former Comptroller Alan Hevessi was brought down partly by pension placement agents, but Glen Sergeon Jr. is moving up, up, up thanks to his work as one. Mr. Sergeon has helped place millions of dollars in pension money from other states with Manhattan fund managers, a practice that got him dubbed the “Secret Agent” by Forbes magazine back in May.
Mr. Sergeon has just departed a Greenwich Village penthouse for a three-bedroom apartment in the condo tower 5th on the Park. According to city records, Mr. Sergeon paid $1.42 million for his new place on the 20th floor of the 28-story, FX Fowle-designed project. Completed in 2009 and located where Fifth Avenue meets the southern side of Marcus Garvey Park at 120th Street, 5th on the Park is the tallest apartment building in Harlem.
Transparency in government is a good thing, so we welcome City Comptroller John Liu’s plan to allow unprecedented public access to the city’s vast $113 billion pension system. Fund managers may not be so thrilled about this sort of transparency, but they’ll have to get used to it as part of the price of doing Read More
America’s load of old people — already large and getting larger — could spell shrinkage for the economy, according to an analysis by Lombard Street Research reported by the Financial Times.
As the first wave of baby boomers turns 65 next year, many of them will be unable to retire, because their main Read More
It goes without saying that New Yorkers owe a tremendous debt of gratitude to police officers, firefighters and other public employees who literally put their lives on the line every time they report to work. The heroism of first responders on 9/11, the ongoing vigilance of cops and other security personnel in the face of Read More