Public unions have gotten so used to clamoring for pay increases to keep up with inflation that when faced with an economy with little or no inflation they know nothing better but to keep making the same argument even as the greater danger in today's market is moving into a deflationary period which, as any one who has studied the Weimar Republic in post-WWI Germany can tell you, is a very dangerous economic situation in which civil order breaks down and maniacs like Adolph Hitler can be elected as dictators.
I am not suggesting deflation is imminent but the notion that public union workers needs raises when private sector employees are losing their jobs, having their hours scaled back or facing pay reductions is absurd. That they are making such demands in the face of state and local governments at the point of insolvency risks permanently discrediting the union movement and the workers they represent.
The biggest source of public sector funding in New Rochelle goes to F.U.S.E., the teachers union. While claiming to have negotiated a new contract last year, in fact, the "contract' was yet another extension of the existing contract which was to expire several years ago.Read more
As the city council wrestles with the decision on whether or not to grant extensions to developers, prime property sits, vacant, nearly blighted.Read more
Staying ahead of the curve has been a challenge for Forest City Enterprises during these economic times . As if things weren't bad enough , the Cleveland based developer recently had it's wings clipped again by two leading credit rating firms . I won't bore you with the details , but a synopsis of the developers recent woes can be found at no land grab . What's interesting is that you won't necessarily see this info when you look up the stock trading info for the day . You'll see press releases and other analysis , but if it weren't for the folks at No Land Grab , I certainly wouldn't have known . Thanks guys!Read more
This was a popular catch phrase for a while and perhaps Ms Schweig should take it to heart. By her very own reasoning, the school board SHOULD be mindful of the taxpayer, realize the severity of the economic climate (even though it's temporary Ms Schweig, it's still devestating for many) , exhibit some fiduciary responsibility and suck it up themselves. You can tout the budget as the lowest in years percentage wise but the very size of the budget makes every percentage point translate into money than many can't afford. Ask yourself, if it is temporary, why can't the district keep the increase down to the 1.5% to 2.5% that so many districts have been able to do? Why? Because they don't care. We are voting on the budget for one year, not all future budgets. When times are better they will get a larger increase, but in times that see homes in foreclosure at historically high rates, job losses not seen in 20 years, the loss of the STAR tax rebates (did you know about that?), a sewer tax increase of $700.00 per year, corruption that now has the District Attorney looking into the district. Not to mention the assessables. Everyone, from commentary on this site, to the finance commissioner of the city has reckognized the truth about the numbers. Now, suddenly, Mr O sees the light?Read more