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New York Economic Crisis

Saving New York City in 1975: Carey Could Teach Congress Today

Robert L. Dilenschneider | Posted 11.26.2011 | Politics
Robert L. Dilenschneider

The nation's current crisis mirrors the situation 36 years ago when New York City teetered near financial collapse, unable to borrow from a banking community that correctly believed the city was broke.

Paterson Plans At Least 1,000 Layoffs, Unions Won't Budge

AP | Posted 05.25.2011 | New York

ALBANY, N.Y. — New York's governor says he's planning for at least 1,000 layoffs to contend with a fiscal crisis after public employee unions re...

New York State Deficit To Get $750 Million Larger

AP | Posted 05.25.2011 | New York

New York (Associated Press) -- New York Gov. David Paterson said Wednesday the projected deficit for the upcoming fiscal year has grown $750 million t...

Student Metrocards Only Get $25 Million From New Paterson Budget | By Pete Donohue | Posted 05.25.2011 | New York

Gov. Paterson's budget provides $25 million for student MetroCards - a tiny fraction of what the MTA says is needed to keep providing free bus and sub...

Paterson's 2010-2011 Budget Proposal Highlights

NY Daily News | Posted 05.25.2011 | New York


Museums, Educations Threatened By Budget Cuts | By Kenneth Lovett | Posted 05.25.2011 | New York

New York City's cultural institutions are on red alert in anticipation of cuts in government funding next year. And that's not all. ...

Paterson: 'Cutting Now Will Be Less Damaging Than Gutting Later' | JEREMY W. PETERS | Posted 05.25.2011 | New York

Gov. David A. Paterson took to the radio, trying, in interviews on half a dozen stations, to add a sense of urgency to the budget negotiations, and re...

New York State Senate Approves Budget Deficit Plan

AP | MICHAEL GORMLEY | Posted 05.25.2011 | New York

ALBANY, N.Y. — New York's Senate has joined the Assembly in approving a measure to reduce the state's budget deficit by about $2.8 billion. But...

Schumer Quiet On Health Care Bill Problems For New York | By Michael Mcauliff | Posted 05.25.2011 | New York

When the feds whack New York, you usually hear Chuck Schumer lead the outrage. But on health care, he's been practically mute about some mighty hits h...

MTA Cuts Likely If Paterson, Albany Cut Aid | MICHAEL M. GRYNBAUM | Posted 05.25.2011 | New York

Among the billions of dollars in cuts that were proposed by Gov. David A. Paterson last week was $113 million in state financing for the Metropolitan ...

Paterson Ends Deficit Negotiations As Senate Claims Progress

AP | MICHAEL GORMLEY | Posted 05.25.2011 | New York

ALBANY, N.Y. — In the latest episode of Albany's failure to address a worsening state deficit, Gov. David Paterson declared negotiations with th...

Luxury Brands Downplay Bling, Emphasize Value

Racked | Posted 05.25.2011 | New York

We've seen a lot of articles about the death of luxury, and about how high-end brands are trying to reinvent themselves in the face of the recession,...

Hot Women and Pole-Dancing: Ingenuity in a Downturn

Vicky Ward | Posted 05.25.2011 | Style
Vicky Ward

One former Morgan Stanley employee is now reportedly making $160,000 as a pole dancer. Intriguingly, she says she finds her new working environment more comfortable than her old one.