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Finance

How to Protect your Organization & Funds from Fraud

May 19, 2014
By Michael Fina,
Vice President / Institutional Banking, First Trade Union Bank

A slow economy like we’ve experienced in recent years can have many repercussions on a business. One negative impact that owners often don’t think about is a possible increase in fraud and embezzlement.

What’s Work Worth? Comparing International Minimum Wages

May 12, 2014
By Steven Wishnia

Germany, one of the highest-wage countries in the world, has no legally set minimum pay. Neither do Sweden, Finland, Denmark, Austria, and Italy. The reason, German economist Thorsten Schulten said April 29, is that with more than 85% of these countries’ workers covered by collective-bargaining agreements, unions believe they’re strong enough to guarantee good wages, and asking the government to do it would be “an expression of weakness.”

IAM President Buffenbarger Defends Retiree Pensions

May 12, 2014
By Neal Tepel

Washington, DC - The president of the International Association of Machinists and Aerospace Workers (IAM) is calling on members of Congress to reject any legislation that allows pension fund administrators to reduce or eliminate the pension benefits of retired workers.

City Council Proposes $74 Billion Budget

May 8, 2014
By Steven Wishnia

Expanding summer youth jobs, reducing outsourcing, hiring 1,000 new police officers, making school lunches free, and helping homeless people obtain housing are among the priorities in the City Council’s preliminary budget for fiscal year 2015, released April 23.

High-Tech is on The Rise in NYC

April 30, 2014
By Stephanie West


New York, NY - High-tech is one of the fastest growing industries in New York City, growing four times faster than the rate of job growth in the rest of the city’s economy, with annual salaries that are well above the citywide average.

Comptroller Stringer: Crisis in Affordable Housing

April 24, 2014
By Stephanie West


New York, NY—Housing in New York City became less affordable since 2000 as the median apartment rent rose by 75 percent while real incomes declined, according to “The Growing Gap: New York City’s Housing Affordability Challenge,” a report issued by New York City Comptroller Scott M. Stringer. 

Minimum Wage Increase in NY

April 21, 2014
By Neal Tepel


New YorK, NY - As efforts to increase the minimum wage to $15 an hour continue to move forward in Seattle and San Francisco, a group of New York lawmakers introduced a bill to raise the minimum wage to $15 an hour for many low-wage workers in the state. The minimum wage increase would affect business with yearly sales of $50 million or more and chains with at least 11 locations nationwide.

High Paid CEOs in the Low Wage Economy

April 17, 2014
by Stephanie West


Albany, NY - According to the National AFL-CIO’s 2014 Executive PayWatch website, the average CEO of a company based in New York State made $6,734,750 or 138 times more than the $48,897 earned by the average worker in the state. When compared to the earnings of minimum wage workers who make $8.00 per hour in New York State, the gap between CEO and worker pay jumps up to a 405:1 ratio.  

Close Gender Pay Gap by Insourcing More Jobs

April 16, 2014
By Neal Tepel


Washington, DC -- American Federation of Government Employees National President J. David Cox Sr. has called on President Obama to close the gender pay gap by hiring more federal employees to take on work now performed by contractors. Women in the federal government on average make 11 cents less on the dollar than their male counterparts, compared to nearly 20 cents less in the private sector.

Gender Age Gap Still a Factor

April 9, 2014
By Stephanie West
Special Report


New York, NY – Comptroller Scott M. Stringer has released an analysis of the gender and wage gap in New York City showing despite the positive effects of the Equal Pay Act, the average woman working full-time still earns only 82 percent of the average man. 

Quirky Creates Jobs in Schenectady

April 4, 2014
By Alan Schulkin


New York, Schenectady - Quirky, an invention company headquartered in New York City, will open an office in downtown Schenectady. and plans to create 180 new jobs. “We are continuing to see companies build and expand operations across our state which means more jobs and economic growth in Upstate New York,” Governor Cuomo said.

Local 1407 ‘Brings the Union to the Membership’

April 1, 2014
By Steven Wishnia

“I thought we could do better in the areas where membership feels separated from the union,” says Maf Misbah Uddin, president of the New York City Accountants, Statisticians & Actuaries, Local 1407 of District Council 37. Since he took office in 2000, he’s been working hard to get the rank and file more involved, a philosophy he calls “bringing the union to the membership.”

PEF Pushes Back Against State Cuts

March 31, 2014
By Steven Wishnia

Susan M. Kent, who took office as president of the Public Employees Federation in August 2012, sees her job as two struggles: fighting back against state budget cuts and privatization, and strengthening the union after a divisive 2011 contract battle.

NY Village Official Stole Over $100K

March 26, 2014
By Stephanie West


Albany, NY - A former official of the now-dissolved village of Altmar in Oswego County stole more than $117,000 in public funds. The New York State Police have arrested Margaret Bailey and charged her with felony counts of grand larceny and falsifying business records.

Wall Street Bonuses Went Up In 2013

March 21, 2014
By Stephanie West


Albany, New York - The average bonus paid to securities industry employees in New York City grew by 15 percent to $164,530 in 2013, which is the largest average bonus since the 2008 financial crisis, and the third highest on record.

Mayor's Fund Helps Victims of Harlem Explosion

March 17, 2014
By Stephanie West


New York, NY – First Lady Chirlane McCray, Chair of the Mayor’s Fund to Advance New York City, announced the launch of a fundraising drive that will address the ongoing needs of those affected by the East Harlem explosion and building collapse on March 12. The funds will support a strategic relief plan including: a victims’ assistance fund to cover costs associated with rent, funeral arrangements and household expenses; case management and counseling services; and community-based outreach focused on immigrant communities.

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