Results tagged “citycomptrollerwilliamthompson”

Last night, Democratic mayoral hopefuls City Comptroller Bill Thompson and City Councilman Tony Avella went head to head during a debate that aired on NY1. Only their main target was Mayor Bloomberg, the now-Independent (who is also on the Republican ticket); Thompson railed, "For the last eight years we have had a Republican mayor, Mike Bloomberg, who has focused on Wall Street, big developers and the wealthy. From jobs to housing to education, we need to go down a different path in this city," while Avella said, "The people of this city twice voted for term limits. The message could not have been clearer. And the arrogance, I'm sorry the arrogance of Billionaire Mike Bloomberg to think he's so important that he could overturn the term limits law, I think is disgraceful. I think he should be turned out for that reason alone."

The NY Times questions City Comptroller William Thompson's management of the NYC pension fund, reporting, "A review of how the $80 billion system has performed since he took office shows it has consistently lagged behind many of its public pension peers even as the city tripled the number of money managers it uses and the fees that it pays those firms." What's more, Thompson, who is running for mayor, has "[collected] more than $500,000 in campaign contributions from its growing roster of money managers since he first entered the 2001 race for comptroller. In some cases, the executives gave to Mr. Thompson just months before the pension funds hired them to manage tens of millions of dollars, according to interviews and public records." Thompson says that there have been tough years and that the NYC pension fund does match the Russell 3000 ("a broad stock market index")—the Times used "a widely used financial yardstick compiled by Wilshire Associates, an investment advisory firm" to measure the city's fund performance. Update: In March, the Post ran a story about Thompson's donations from investment firms that manage pension funds; the Citizens Union's Dick Dadey said, "I question why these donors feel a need to contribute. They are out-of-state donors. It certainly isn't out of civic interest because they don't vote here."

City Comptroller William Thompson Jr. sharply criticized the Parks Department after his office examined the 79th Street Boat Basin's financial statements, finding many discrepancies and possible criminal activity. Thompson said, "During the course of the audit, a number of red flags were raised. The number and magnitude of these red flags raised the question of whether fraud occurred at the Boat Basin.”

Mayor Bloomberg presented the preliminary 2008-2009 fiscal year budget which inclued cuts to almost every city agency, saying, "Everyone is going to have to tighten their belts." One big reason is the slowing economy and its effects on the city; for instance, the city had previously thought Wall Street profits would be $16.8 billion last year but they are more likely to be $2.8 billion.

Just because the 2009 elections are over 22 months away doesn't mean some interesting moves can't happen. Adolfo Carrion Jr. (pictured, on left), the Bronx Borough President, has decided to run for City Comptroller in 2009, making it a tough field and shedding light on the mayoral contest.

Rudy Giuliani told the American public, via a sit-down with Katie Couric, that the story pointing out expenses for trips to the Hamptons - to see then-mistress Judi Nathan - were billed across a number of obscure city agencies was a "typical political hit job" and a "debate day dirty trick." He even called it a "false story," but Politco, the website that broke the story, pointed out neither Giuilani or his aides "have questioned...

Just in time for last night's Republican debate, political website Politico broke a story claiming that former mayor Rudy Giuliani billed "obscured city agencies for tens of thousands of dollars in security expenses" for extra-marital Hamptons trips with future wife Judith Nathan. When Giuliani would travel outside the city, he would be accompanied by a police detail. And if he stayed overnight, the police would also need lodging and other expenses taken care of. Politico...

The NY State Division of Housing and Community Renewal finally closed a loophole in rent regulations that would have allowed owners and landlords leaving government-subsidized housing programs to increase rents to market rates by citing "unique and peculiar" circumstances. According to the NY Times, some tenants' rents would have skyrocketed from $981/month to $4,500/month for a two-bedroom on the Upper West Side and from $1,000/month to $5,275/month for a three-bedroom, also on the Upper West...

City Comptroller William Thompson Jr. stated in an audit released Thursday that the New York had wasted almost $6 million attempting to develop a Scottish links-style golf course in the Bronx. That's not how much the city spent; that's just how much Thompson thinks the city wasted. Developer Ferry Point Partners has been working on the project for the better part of the last decade (since 2000), and in 2002 requested additional funds for environmental remediation. Of the $7.2 million the Parks Dept. paid Ferry Point Partners since then, an audit released by Thompson's office determined that $5.8 million did not go towards environmental remediation.

For the past few years, the officials have been warning that NYC's Off-Track Betting, or OTB, has been on the verge of going broke, whether it's former State Comptroller Alan Hevesi or City Comptroller William Thompson. OTB doesn't give the city any revenues and recently pinned its hopes on attracting more customers by making over OTB parlors and allowing bets to be placed online and by cell phone or Blackberry.

James Williams, the drummer who was accompanying the break-dancing group Two Steps Away at the southeast corner of Central Park yesterday, denies that he deliberately spooked Smoothie, the carriage horse who apparently bolted at the loud noise of a snare drum and eventually died from shock after ramming into a tree. The drummer denied doing anything malicious and said that intentionally spooking a horse could have results more dire than even Friday's tragedy. The New York Times quoted him saying "Spooking a horse right here could mean a baby carriage getting run over, or a person hurt.” Williams told The Daily News that he doesn't even like to kill flies or roaches, and would never intentionally hurt a horse.

A 12-year-old carriage horse named Smoothie died after frightened on Central Park South yesterday afternoon. The Daily News reports that a breakdancing troupe cracked a snare drum, which made Smoothie rear up in fear. A witness said Smoothie was "in full gallop,", and the NY Times has a description of the terrified horse's reaction:

According to witnesses, a man walked past the horses while beating a small drum, which caused a brown horse that was hitched to a carriage to bolt onto the sidewalk, darting between two poles that were about two feet apart. The horse made it through but the carriage did not, and as the horse struggled to move forward, it collapsed and died, witnesses said.

Continue reading "Scared by Drums, Carriage Horse Dies in Crash"

The prominent Democratic party donor and California fugitive Norman Hsu's connection to New York City's New School is examined in the NY Times today. Hsu donated hundreds of thousands of dollars to national Democrats like Senators Hillary Clinton and Barack Obama, to governors like Eliot Spitzer of NY and Ed Rendell of Pennsylvania, and NYC politicians like City Council members Christine Quinn and John Liu and City Comptroller William Thompson. Hsu, who had been wanted by California authorities since 1992 for defrauding investors in a Ponzi scheme, was going to surrender himself last Wednesday, but ended up on a train to Denver.

Thought Governor Eliot Spitzer and Senator Hilary Clinton appeared at a press conference to discuss health coverage of New York children, they had to answer questions about campaign donations they accepted from fugitive apparel executive Norman Hsu. Clinton received $23,000 from Hsu and announced that she would donate the money to charity after revelations that Hsu has been wanted in California for defrauding California investors since 1991. Hsu has fled to Hong Kong but has been living in New York as a high-profile donor since 2003. Guess when those cases grow cold, they stay cold.

The laptop of a private consultant for the Financial Information Services Agency was stolen from a restaurant last night. The stolen computer could contain the personal financial information of as many as 280,000 retired city employees and the obvious concern is that the information could fall into the hands of identity thieves. The Daily News reports that the data could possibly include the names, address, social security numbers, and pension information of thousands of retirees.

Last night was the annual meeting of the Rent Guidelines Board to decide on rent increases for the city's rent stabilized apartments. Amidst the usual chaos (the crowd yelled "Blah, blah blah!", "Free rent!", "Shame on you" and "Liar" while board members spoke), the board approved moderate hikes: 3% for 1-year leases, 5.75% for 2-year leases.

It's the countdown to the final meeting determining increases for rent stabilized apartments coming next week. City Comptroller William Thompson issued a letter asking the Rent Guidelines Board to either raise stabilized rents by the minimum or not to raise them at all, given last week's announced homeowner tax rebates and property tax cuts. Thompson's letter (here's a PDF) notes that the city has not kept up stock for low- and moderate-income housing and that one third of city residents devote at least half their income to rent.

Democrat Micah Kellner won the special election to fill the Upper East Side Assembly seat vacated by Pete Grannis (who was appointed the Department of Environmental Conservation commissioner by Governor Spitzer). Kellner received about two-thirds of the vote over Republican opponent Gregory Camp.

Yesterday, Mayor Bloomberg traveled back to his Massachusetts roots and gave the commencement speech at Tufts University. Bloomberg, who grew up in Medford, name checked various haunts in the hood, tried to seem with it by mentioning Busta Rhymes, Ali G, and Salma Hayek, and reminded kids to call their mother. He also discussed free speech, in what the Sun called a nod to the Minutemen incident at Columbia:

The fourth lesson is, in the words of Ali G, 'Respect.' Don't worry, I'm not going to start quoting Borat. Respect is so important - especially in times of conflict. You all know what I'm talking about. In December, The Primary Source printed some things that much of this community ardently disagreed with - that many considered quite offensive. But instead of suppressing the publication - and despite the emotion of the moment - you respected their right to express themselves.

Continue reading "Bloomberg on Mom, Sports, and Respeck"

The city's Water Board approved to raise the water and sewer rates starting in July. The rate hike, which AMNY calls the biggest increase in 15 years, means that an average household's water bill will go from $623 to $700 annually. The water board says that the new $700 average water rate is still below the national average (apparently Boston, Philadelphia, San Francisco and Atlanta have average rates of over $1000 a year) and that the money is needed for mandated improvements to the water system.

Congratulations to everyone graduating this month! As NYU's commencement was today, with speaker jazz musician Wynton Marsalis, we decided to list the many NYC commencement speakers, with help from The Chronicle of Higher Education (if we've missed any or gotten it wrong, let us know in comments):

• The city wants to do repair work to buildings that need it - and charge the landlords - in legislation proposed by the City Council and supported by the Mayor and other housing groups
• City Comptroller William Thompson thinks Wal-Mart is spying on its shareholders - is that better, worse, or the same as keeping employees locked up?

- Affordable rent and health insurance are big challenges for the middle class

A new Quinnipiac University poll shows that New Yorkers still really like Mayor Bloomberg. While his approval rating slipped 2 points since the beginning of the year (from 75 to 73), Bloomberg can claim that the citizens of New York like him as a mayor more than they like Rudy Giuliani's reign as Hizzoner. Forty-six percent liked Bloomberg more than Giuliani; 34% felt they were the same, while 16% thought Giuliani was better. All the boroughs thought Bloomberg was better, although in Staten Island, 36% thought they were the same (35% liked Bloomberg better, 25% liked Giuliani better).

• Today on the Gothamist Newsmap: An unusual odor in the Bronx, two pedestrians struck (one in Manhattan, a fatal one in the Bronx), and three alarm fire at a tire yard in Brooklyn
• The Department of Education will reinstate 17 bus routes, finally realizing that giving 5-year-olds MetroCards is a very mean lesson
• We're so with East Village Idiot on this one:
• Weird: In a story about the doctor who police believe was attacked in his Upper East Side triplex, a neighbor tells the Daily News, "There was a suspicious guy who came a few times in the last six months. I told the police about him. They told me not to speak about it."
• New and expecting parents: ModernTots in Dumbo is having a sample sale this weekend!
• Busta Rhymes was busted for driving without his license in TriBeCa; he told the cops, "You hide behind the shield. This is bulls---." Then he told the judge he thought the cops were robbers in disguise.
• Representative Anthony Weiner may run for Mayor in 2009; so far, other suspects include City Council Speaker Christine Quinn and City Comptroller William Thompson
• And if you're planning ahead, this Sunday is Chinatown's Chinese New Year Parade
Continue reading "Extra, Extra"

Mayor Bloomberg was in London yesterday, meeting with Sir Callum McCarthy of the Financial Services Authority. Last month, the Mayor, along with Governor Spitzer and Senator Schumer, declared that NYC's status as the world's number one financial center was slipping. One reason they cited that global business was shifting to places like London was because London only has on regulatory body - the FSA. The Mayor said, "The FSA is an example of the kind of streamlined and responsive regulatory framework Congress must implement if New York City is to remain the financial capital of the world." Good luck getting that to happen, Mr. Mayor.

school begins seems to have settled down. The Department of Education apologized for the umpteenth time and even Mayor Bloomberg admitted that the changes didn't go very well (he did emphasize the savings were worth it). Of course, it's questionable how much the DOE will save after this mess.

Yesterday, Senator - and official Presidential candidate - Hillary Clinton made her first public appearances. She went to Hell's Kitchen to discuss a health insurance program for children - and announced she would make health care a critical of her campaign:

"I want to have a conversation with our citizens about we want for our country, and one of the goals that I will be presenting is health insurance for every child and universal health care for every American. That will be a very major part of my campaign, and I want to hear people's ideas about how we can achieve that goal."

- The goings-on at Rudy Giuliani's own company were the focus of two articles this past weekend. The Daily News wondered how his client list at Giuliani Partners will stack up to scrutiny, as there are gambling associations and polluters on it. Well, there are benefits to him being a Republican. And the NY Times looked at how Giuliani's campaigning might affect his company - it's questionable how successful the company has been. How did Giuliani spend part of his weekend? Why, attending the Bull Riders invitational at Madison Square Garden.

State Comptroller Alan Hevesi pleaded guilty to charges and resigned from office today. From the AP:

The plea ends an investigation by Albany County District Attorney David Soares, who had been presenting evidence against the Queens Democrat to a grand jury. Hevesi will serve no jail time, but will pay a $5,000 fine and agreed not to file any appeal. He also agreed not to take office on Jan. 1. Friday's agreement also heads off a process that could have ended in the Legislature removing Hevesi from office.