Menu

Finance

NYCHA Squandered Opportunities to Raise Millions

December 18, 2014
By Neal Tepel


New York, NY – The New York City Housing Authority (NYCHA) missed out on at least $692 million in revenue and cost savings opportunities and repeatedly failed to meet revenue and savings projections, according to an audit of NYCHA's finances and financial practices released by New York City Comptroller Scott M. Stringer.                      

Tax Breaks Contribute To Inequality

December 17, 2014
By Neal Tepel


Washington, DC - Taxpayer subsidies awarded to corporations by feederal, state and local governments, are fueling economic inequality. Giant companies owned by billionaires are receiving millions from our government while taking advantage of employees. These low-wage companies receiving high taxpayer subsidies should be encouraged to pay workers a living wage.

Insurance Premium Increase Threatens Union Pensions

December 10, 2014
By Neal Tepel


Washington, D.C. – LIUNA – the Laborers’ International Union of North America – is urging Congress to reject a proposal which would dramatically increase insurance premiums for multiemployer pension plans, devastating millions of current and future retirees. 

Progressives and the Minimum Wage: A Missed Opportunity

December 4, 2014
By Oren M. Levin-Waldman, Ph.D.

It is commonplace to think of progressive policy as that which assists the poor and the downtrodden. Progressive politicians have historically been in the forefront of labor legislation favoring worker rights, minimum wage laws, anti-poverty programs, civil rights, women’s rights, and more recently environmental protection.

Fire Department Treasurer Stole $82,000

November 19, 2014
By Stephanie West


A Crystal Beach Volunteer Fire Department treasurer stole more than $82,000 from the department for personal expenses and shopping sprees, according to an audit by State Comptroller Thomas P. DiNapoli.

Another Banking Scandal: What Else Is New?

November 19, 2014
By Thomas J. Mackell, Jr., Ed.D.


North Bergen, NJ  - So the U.S. and British regulators have announced yet another banking scandal that will precipitate civil penalties of billions of dollars (Likely to reach some $4.5 billion) for several domestic and foreign banks suspected of conspiring to manipulate the heavily interwoven $5.3 trillion-a day foreign exchange currency-trading market. This is the largest unregulated foreign currency market involving some 160 world currencies.

Job Creation in NYC at Fast Pace

November 14, 2014
By Neal Tepel


New York, NY - New York City created private-sector jobs at an annual rate of 5.4 percent in the third quarter of 2014. This is the biggest quarterly increase in  24 years according to a report released by New York City Comptroller Scott M. Stringer.

First Trade Union Bank is now Radius Bank

November 10, 2014
By Stephanie West


Boston, Massachusetts - First Trade Union Bank, staffed by UFCW members has now changed its name to Radius Bank.  Radius, one of the few union staffed banks in the country, continues to provide value-added products, leading-edge technology and the highest level of customer service for labor organizations. The new name is a reflection of a commitment to quality service. 

Momentum Builds for Minimum Wage in California

November 7, 2014
By Neal Tepel


San Franscico, California - More than 190,000 workers in San Francisco and Oakland are winners as Bay Area voters overwhelming approved raises for workers. The passage of two voter proposition initiatives have given momentum to raise the minimum wage for workers in San Francisco and Oakland.

Minimum-Wage Raises Sweep Nationwide

November 6, 2014
By Steven Wishnia

In an election that saw scores of anti-labor candidates sweep into office, voters also approved every minimum-wage measure on the ballot. Four states and two cities elected to give their lowest-paid workers a raise.

NYS Protects Farmland

October 22, 2014
By Stephanie West


Albany, NY - Governor Andrew M. Cuomo has announced $17.6 million to protect more than 6,400 acres of farmland across New York State, which will maintain the land’s use for agricultural purposes and keep the land free from future development. The funds, which are made available through the Farmland Protection Implementation Program, will help preserve 21 farms in 12 counties across the state, and bring the total acreage under the program to approximately 59,000 acres.

Tis the Season to be Wary!

October 21, 2014
By
Salvatore J. Armao, CPA/PFS, CFP, CFE, CGMA

According to most fraud experts, incidences of consumer fraud spike an estimated 20 percent during the holiday season - the time between Thanksgiving and New Year’s Day.

It’s a time when increased need - or greed - meets increased opportunity to commit fraudulent acts. We shop, travel and donate more to charity during the holiday season.

Low-Wage Workers and the “New” Industrial Reserve Army of Labor

October 17, 2014
By Oren M. Levin-Waldman


The standard minimum wage model that predicts that increases in the minimum wage will result in lower employment rests on the assumption that workers are nothing more than factors of production. As factors of production, they are simply inanimate objects that are easily interchangeable, either with other similar inanimate objects or more technologically advanced ones.

Citi Overcharged Consumers Millions

October 15, 2014
By Stephanie West


New York, NY – Citigroup Global Markets, Inc. (CGMI), a subsidiary of Citigroup, has agreed to reimburse more than 31,000 Citi customers who were charged higher advisory fees than they negotiated. The agreement returns nearly $16 million to about 31,000 Citigroup customers.

AT&T Fined for Charging Consumers False Charges

October 15, 2014
By Stephanie West


New York, NY – Attorney General Eric Schneiderman along with the Attorneys General of 49 other states and the District of Columbia, reached a $105 million settlement with AT&T Mobility LLC. The settlement resolves allegations that AT&T Mobility placed on consumers’ mobile telephone bills charges for third-party services that had not been authorized by consumers, a practice known as “cramming.”

Global NY Development Fund Creates Jobs

October 10, 2014
By Stephanie West


New York, NY - Governor Andrew Cuomo has launched new “GLOBAL NY” initiatives – including a $35 million Global NY Development Fund and trade missions to Mexico, Canada, Italy, China, and Israel – to help create new jobs in New York and attract additional international business investment to the state. Governor Cuomo outlined these new initiatives on October 7th at the first Global NY Summit on World Trade and Investment at the Jacob K. Javits Convention Center in New York City.

Additional information