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On The Bright Side, Maybe This Means Reservations At Per Se Will Be Easier To Come By

Then again, most of Manhattan may shutter before that happens:

Congress’ planned 90 percent tax on bonuses paid by bailed-out companies will snatch $12 billion at the very least from employees of firms that are based in New York City or have big operations here, experts said.

And that would have a dire effect on the city’s economy, impacting everyone from top luxury retailers to taxi drivers to tax collectors.

The crushing tax passed in the House yesterday would affect workers who make over a quarter-million dollars a year at companies that took more than $5 billion in rescue funds from the taxpayers.

Several executive-compensation experts said that under those standards, at least half of all of the windfalls granted by bailed-out firms would be affected.

“And that’s a conservative estimate,” said Chuck Collins, a compensation expert at the Institute for Policy Studies.

For example, he said, at least 50 percent of the $2.6 billion that Goldman Sachs gave its employees in bonuses would likely be hit with the tax.

Posted: March 20th, 2009 | Filed under: Follow The Money, Grandstanding, Well, What Did You Expect?

It’s Not All Jack McBrayer Farm Freshness After All

But Tina Fey can work with details like these:

The combination of factors took a toll on morale. Some pages bristled at a series of disciplinary crackdowns. According to one source, pages were regularly asked to keep an eye on their colleagues for possible infractions. “It’s a culture of fear,” said the former page.

Posted: March 18th, 2009 | Filed under: Well, What Did You Expect?

There’s Something Inspiring About How A City Comes Together In An Emergency

And I’m sure those ferry captains and workers would agree that they really didn’t have a choice and that it was the right thing to do:

New York Waterway’s rescue of Flight 1549’s passengers could help rescue the foundering ferry firm.

Maritime lawyers say the company has a good chance of making US Airways pay for the costs it incurred plucking 142 people from the Hudson.

Waterway itself is taking on water and could be headed for bankruptcy. Its owner, Anthony Imperatore, is threatening to sue the airline.

Imperatore said he has sunk $20 million of his own money into the ferry operation, and has no more.

Posted: March 18th, 2009 | Filed under: Well, What Did You Expect?

The Dirty Little Secret About Shuttle Train Service . . .

. . . is that it’s the most uninspiring form of subway transportation. So of course it only deserves a “C”:

Commuters on the three-stop Franklin Ave. Shuttle gave it a C grade for the second year in a row, according to the Transit Authority’s second annual Rider Report Card survey.

Riders’ biggest gripes: long delays and unreasonable waiting times.

“At night, the wait time is about 20 minutes at like 2 o’clock in the morning,” said Sara Shae, 22, of Prospect Heights, who relies on the shuttle to travel from the Park Place station to Manhattan.

“I don’t mind waiting, but I do mind feeling unsafe waiting by myself,” Shae said.

“After 20 minutes, I’ll get on, and [the train will] just sit there for another 10 minutes, waiting to fill up.”

See Also: “A Gentleman’s C”.

Location Scout: Franklin Avenue Shuttle.

Posted: March 17th, 2009 | Filed under: Architecture & Infrastructure, Well, What Did You Expect?

Fans Of NL East Rivals Disappointed At Prospect Of Losing One More Thing To Rag On The Mets About

After all, even the Astros quickly abandoned “Enron Field” back in 2002:

Citigroup Inc. may be suffering buyer’s remorse over its pricey naming rights deal for the Mets’ brand new stadium in Queens.

It’s a $400 dollar, 20-year marketing deal between the Mets and Citigroup, and according to Tuesday morning’s Wall Street Journal, officials at the troubled banking institution are exploring the possibility of backing out of the agreement, which includes naming the new baseball stadium after the bank.

In a statement, Citigroup said “no TARP capital will be used for the stadium,” referring to government funds from the Troubled Asset Relief Program, but Citigroup, which has lost $28 billion since 2007, is now acknowledging that the so called volatile political climate may not make this the best time to name a stadium after the bank.

Citigroup has received $45 billion in bailout help from the feds and another $300 billion in loan guarantees.

Tuesday morning’s report comes days after two outraged congressman wrote the Treasury Secretary, asking him to push Citigroup to dissolve the Mets deal.

Location Scout: Citi Field.

Posted: February 3rd, 2009 | Filed under: Follow The Money, Well, What Did You Expect?
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