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New York City | Public Sector Inc

Tag archive for New York City

How NYC teachers got big raises without a contract

News outlets in New York are reporting that a deal is taking shape between the de Blasio administration and the city’s teachers’ union that would grant teachers their first contract since 2009. What many of the news stories will fail to mention, however, is that teachers have been getting regular raises since then even in the absence of a contract thanks to union-friendly New York State law…

Charter schools are not budget busters

“More accountability, more money,” has been the structure of many, many deals driving K-12 reform over the years. Though reformers premise their arguments on the belief that more money is not the answer (hence the need for policy changes), in practice, increasing spending is a …

Understanding union endorsements in NYC

The vote of the 3,500 person council of the 70,000-strong United Federation of Teachers is in. The union has endorsed Bill Thompson for mayor of New York. On the one hand, this makes sense. Thompson was a teacher and a member of the city’s school …

The urban mechanic

Last week on publicsectorinc.org, we rolled out a new podcast series, “The urban mechanic.” The series will focus on practical solutions now being implemented by city governments across the nation. Despite state and local governments’ continuing struggles with public sector unions and pension and healthcare …

How to explain Bloomberg’s political success? People like his policies.

New Yorkers like Mayor Bloomberg’s policies more than they do Mayor Bloomberg himself.
According to a new Manhattan Institute poll conducted by Zogby Analytics, over 2/3 of city voters believe that the next mayor of New York should either continue Bloomberg’s policies, or do so “with some modifications.” In most policy areas, less than 20% call for totally abandoning the Bloomberg agenda.

The benefits leviathan devouring NYC’s budget

Today’s NY Times has a story about poverty and near-poverty levels in the Big Apple.The reporter who wrote the piece asked me what kinds of options the next mayor (there’s an election this fall) would have addressing poverty. Leaving aside the issue of how much …

John Paulson’s Smart (New) Bet

The hedge fund investor John Paulson, made famous in Michael Lewis’ The Big Short, has come under fire again–this time not for his investment returns (which have headed sharply south after the success of his prescient 2006 $25 billion bet against the housing market.) The …

Despite Clinton & Liu, infrastructure still needs saving

Bill Clinton stood today in his Harlem office with city comptroller John Liu, local and national teachers’ union reps, and a man from the White House to unveil a new way of “putting us on the path to a sustainable future in New York City” after Superstorm Sandy. The former president’s non-profit, the Clinton Global Initiative, has secured a pledge for the New York City teachers’ pension fund to invest $1 billion in infrastructure projects within New York State.

But the new venture doesn’t solve the central problem behind inadequate infrastructure investment. Unless a project can offer a financial return to investors, including public-pension funds, that project still needs government funding or a government guarantee.

New York’s latest pension pander

Are the New York City officials who run Gotham’s public-sector pension funds interested in competitive returns — or political pandering?

Question for next mayor: Bloomberg or Faulkner?

New York will (one presumes) have a new mayor come January 2014. One question for that mayor will be whether he or she chooses the past or the present.

The (future) present: the new mayor likely will face a deficit of $3.7 billion for his or her inaugural budget (fiscal year 2015). That’s a good seven percent of city tax revenues.

The past: unless Mayor Bloomberg and municipal unions do some serious negotiating in the next few months, the new mayor will face more than a dozen expired contracts — and union leaders requesting retroactive settlements.