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Employment Stats Growing in NYC; Manufacturing Jobs are Exception

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Employment in New York City is at an all-time high, with the number of jobs growing consistently in all industries except manufacturing.

On Thursday, March 8, the New York State Labor Department released a revised version of the job numbers for 2016 and 2017. The results showed that job growth was better last year than initially thought, and that manufacturing jobs have been declining despite the number of jobs increasing overall.

According to the newly revised numbers, in 2017, New York City gained 85,000 and in 2016 90,000 jobs were added. This shows that even though the economic growth seems to be slowing, the rate at which it is slowing down is quite minimal. Also, the total number of jobs in the city is the highest that it has ever been with 4,426,700 jobs.

This chart shows the number of jobs in New York City over the last four years and how many of those jobs were in the manufacturing industry.

Crain’s News reports, “After a downward revision, total manufacturing employment dropped by 3,000, or 4%, to 73,100, the third consecutive year of losses. Manufacturing jobs in the city are now at their lowest level ever. No matter what the city does in terms of zoning, no matter how many incubators are started, making goods in the city is just not economical. For the record, factory jobs represent 1.6% of employment in the city. Frequently, early numbers suggest small manufacturing gains that are erased when more reliable figures come in for the March revision. Policymakers should focus on how the opportunity cost of spending time on manufacturing jobs is large and the gains from doing so are small.”

By Rebecca Gold

 

Armed NYPD Cop Removed from Queens HS; Parents Furious

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NYPD officer Raul Espinet was recently removed from his post at Francis Lewis High School, which he held for over a dozen years. (Photo Credit: Francis Lewis yearbook)

While the nation calls for more security at schools in the wake of the shooting last month in Florida, the last NYPD officers that were assigned to New York City public schools fulltime have been taken out.

As the 17 victims of the Parkland, Florida school massacre are still being mourned, Sgt. Raul Espinet was removed by the NYPD from the post he held for over a decade at Francis Lewis High School in Fresh Meadows, Queens. Teacher, students and parents are infuriated, with good reason, over the departure of this beloved officer.

Arthur Goldstein, a teacher at Francis Lewis, told The Post, “My colleagues think it’s outrageous — and really stupid. We’re not enthusiastic about arming teachers, but we liked having a cop around.”

According to the NYPD, the position that Espinet held was eliminated because in Mayor de Blasio’s new community policing units, schools will be visited by cops who are already patrolling the area. While all school have unarmed safety agents permanently stationed.

Backed in the 1990s, the practice of having armed police in schools, which was previously common, began waning. With the gradual elimination of all, except the one, Espinet, at Francis Lewis, which is one of the biggest high schools in the city. Parents told The Post that it was only recently that the nearby Bayside and Benjamin Cardozo high schools lost their full-time NYPD officers.

NYPD spokesman Lt. John Grimpel said, “I’m not aware of any other school with a full-time police officer assigned to it.”

The change is being protested by parents of the overcrowded Queens school that is stuffed with over 4,400 students.

Last week a petition was launched by the school’s PTA, which said, “The community officer is in no way an acceptable replacement.”

PTA co-president Linda Lovett told The Post that in just two days their petition demanding that the NYPD and city Department of Education bring back an armed cop to Francis Lewis, received over 1,000 signatures.

Lovett told The Post, “It’s ridiculous. All over the country they are telling you ‘arm the teachers, get an officer in your school.’ New York City had a designated officer and they are actually cutting the program . . . they are making us less secure. You are talking about 5,000 people in a one-block radius, and you’re telling me you can’t designate one officer?”

According to The Post, “Students, parents and teachers say the school is generally safe and that fights are rare, but the Parkland shooting and one teenager’s recent online threat against Francis Lewis HS have put them on high alert… Espinet was a constant presence, both in the hallways and outside the building, according to staffers and students. He made sure doors were locked and busted kids for smoking. ‘He knew what was happening,’ said Phyllis Leibowitz, an English teacher who served 16 years as a dean. ‘Kids told him things . . . They would give him a heads up, and he would handle it before it happened.’ Espinet regularly attended school meetings and made suggestions on how to make the school safer, staffers said. He also spoke to classes about careers in law enforcement and took troubled kids under his wing.”

Many said that the mere presence of Espinet was a “deterrent” for crime, and his absence raises concerns that bad behavior may now be invited.

By Rachel Shapiro

 

Upper Manhattan Residents Outraged Over Closing of Psych Ward

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New York- Presbyterian Hospital is said to be asking the state’s permission to decertify all 30 psychiatric beds at its Allen Hospital in Inwood. The facility provides inpatient much-needed treatment to hundreds of locals annually.

New York- Presbyterian Hospital is said to be asking the state’s permission to decertify all 30 psychiatric beds at its Allen Hospital in Inwood. The facility provides inpatient much-needed treatment to hundreds of locals annually.

Community residents say the plan poses a danger to locals, as more of those in need of help will find their way onto the streets.

“The scary prospect is that the folks will give up the search for help if they’re forced to go seek it,” Community Board 12 Chairman Shah Ally told the New York Post. “With the beds closing, bad things are going to happen, whether it’s people killing themselves or killing someone else.”

“These are low-functioning patients with histories of violence,” Allen Hospital nurse Anthony Ciampa told the Post. “For New York-Presbyterian to close its doors to the mentally ill does not reflect the actions of a community hospital. This translates to me as taking away from areas of need and building in profitable areas of greed.”

New York-Presbyterian submitted a $70 million plan to the state Health Department in late December to eliminate the Allen Hospital’s psychiatric unit in favor of moving and modernizing its maternity ward and adding four operating rooms and “support spaces,” according to the Post. “The move would slash the NewYork-Presbyterian system’s 352 psychiatric beds by almost 8 percent, with the vast majority of those remaining, 251, at its Westchester Division in White Plains,” the paper added.

The problem is far from a new one. For people in New York with severe mental illness, the New York Times reported last summer, “the path to treatment has increasingly passed through the city’s public hospitals, even as health officials and private hospitals try to accelerate years of slow progress by providing people with better outpatient care. A new report shows that treatment is being provided more and more by the city’s strained public hospital system, as financial pressures on some private hospitals drive them to divert psychiatric patients and close beds.”

According to the Times, New York State is in the third year of a $7 billion Medicaid reform plan that “encourages hospitals to avoid unnecessary hospitalizations, especially for mental illness, by instead investing in helping people manage their medications outside the hospital and integrating psychiatric care with other doctor visits.”

Kinsey McManus, services director at the National Alliance on Mental Illness of New York City, told the Times that the mental health system “is always behind in how they’re handling things. Stigma is rampant on all levels, including on what’s the priority in the agenda of the government, what’s the priority of hospitals.”

By: Charles Cumberbein

 

Blankfein to Leave Goldman Sachs; David Solomon to Replace Him

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The CEO of Goldman Sachs, Lloyd Blankfein, will be stepping down from his position.

On Friday, March 9, the Wall Street Journal reported that by the end of 2018, the CEO of Goldman Sachs, Lloyd Blankfein, will be stepping down from his position.

Since 2006, 63-year-old Blankfein has led Goldman Sachs. His 12-year reign makes him one of the longest-serving CEOs of Wall Street. In that time, he brought the bank through financial crisis and became very rich and successful in his own right along the way. Blankfein earned $24 million in 2016, which then shot up to $24 million for 2017.

A replacement for Blankfein’s position will probably come from within the company, according to the WSJ. The top candidates are the co-presidents of Goldman Harvey Schwartz and David Solomon. Blankfein’s former second hand, outgoing director of the National Economic Council Gary Cohn, will not be a contender, as he will soon be unemployed.

Some people say that Blankfein’s departure may be timed in such a way that it will coincide with the bank’s 150th anniversary celebration in 2019.

If Blankfein desires, he could potentially have an entire new career in front of him. What that might be and if he will actually pursue it is unclear. According to the WSJ, Blankfein’s three immediate predecessors found jobs in government, but it is unlikely that he will go in that direction, that is at least not until President Trump leaves the White House.

Last Friday Investopedia released an article on this matter that included an outline of the relationship between Blankfein’s departure announcement and Goldman Sachs shares. The article said, “Goldman shares took a sharp dive earlier in today’s session after the news came out, but then quickly recovered. In late day trade, the stock was up 1.4 percent. During Blankfein’s tenure, shares of Goldman have increased more than 84 percent, second only to JP Morgan among its peers and moving far ahead of the likes of Morgan Stanley, Bank of America and Wells Fargo.”

By Mark Snyder

 

NJ Shore Ferry Could Help Kushner Cos. as Property Value Rises

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Long Branch, NJ, leaders have been told by the federal government that is plans to both build a pier and initiate ferry service to help tourists and other visitors arrive at a location not far from a resort property that is partially owned by President Trump’s son in law and close advisor, Jared Kushner.

Long Branch, NJ, leaders have been told by the federal government that is plans to both build a pier and initiate ferry service to help tourists and other visitors arrive at a location not far from a resort property that is partially owned by President Trump’s son in law and close advisor, Jared Kushner.

The proposed pier is located next to Kushner’s resort – leaving government officials in the politically ticklish position of seeming to benefit someone intimately connected to the White House.

According to reports, many expect that property values will jump once the project is completed. As reported by the news site Vos Iz Neias, the resort in question is peddling as many as 269 condominium properties for prices as high as $1.9 million.

The Transportation Department’s Federal Transit Administration, sent $3.34 million – more is needed — to the city of Long Branch a decade ago to help it redevelop a long-popular fishing pier.

Reports say that a recent financial disclosure report still lists Kushner – who is married to the President’s daughter Ivanka, and resigned as chief executive officer of Kushner Cos. more than 14 months ago – as a part owner.

Howard Woolley, Long Branch’s former business administrator, told Vos Iz Neias that the rebuilt pier would raise prices on the condos by at least 50%.

Kushner is the elder son of real-estate developer Charles Kushner, and served as chief executive officer of the real-estate holding and development company Kushner Companies, and of Observer Media, publisher of the New York Observer. He is the co-founder and part owner of Cadre, an online real-estate investment platform.

During the 2016 presidential campaign, Kushner helped develop and run then-candidate Donald Trump’s digital media strategy. On January 9, 2017, he was named as a senior White House advisor. He has since resigned as CEO of Kushner Companies, and as publisher of the Observer.

According to Kushner Cos., the firm had another record year in 2017, with more than $2.5 billion of transactions. As it states on its web site, “We continued to expand our multifamily portfolio with the acquisition of over 1,000 units in Plainsboro, New Jersey, and the recapitalization of 5,500 units in Maryland. Construction was completed on budget and ahead of schedule at 65 Bay Street, a 447-unit luxury high-rise in Jersey City, which we refinanced for $240 million. We recapitalized Dumbo Heights, our 750,000 square foot office campus that is nearing complete occupancy, for $600 million. Additionally, our lending platform loaned $250 million this year in accordance with our goal.”

The firm has 12 million square feet under development in New York and New Jersey. Construction is underway at the Watchtower, an iconic building on the Brooklyn skyline, and 85 Jay Street, a ground-up $1.1 billion luxury residential project spanning an entire city block in the same borough.

By: Kenneth H.M. Robeson

 

NYC’s ‘Fearless Girl’ Statue Staying Put For Now, Future Uncertain

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A spokeswoman for Mayor Bill de Blasio said that New York City officials are expected to make an announcement regarding the permanent placement of the “Fearless Girl” statue “very soon.”

On Thursday March 8th, a spokeswoman for Mayor Bill de Blasio said that New York City officials are expected to make an announcement regarding the permanent placement of the “Fearless Girl” statue “very soon.” For now, the tourist attraction, which has become a symbol of women’s empowerment, will stay put right where it is near Wall Street’s iconic Bull statue. “The Fearless Girl’s message has resonated with New Yorkers and visitors alike, and that’s something we want to remain a part of the city’s civic life,” said Natalie Grybauskas, Mayoral spokeswoman.

The hands-on-hips bronze statue was installed on State Street, last year to mark International Women’s Day. The temporary fixture won a strong backing in its post. As reported by VIN News, on Thursday, for this International Women’s day, retailer Old Navy sponsored a cape of blue flowers to bedeck the statue. Tourists were overjoyed, with a steady rush of visitors posing for pictures with it throughout the day.

The statue’s owner, Boston-based investment firm State Street Global Advisors, said they are working with Mayor de Blasio’s office “to determine a permanent solution to keep Fearless Girl in New York City so she can continue to promote the power of having more women in leadership.”

The statue’s creator, Kristen Visbal, would like to see her work stay as it is permanently. “I really feel that this placement of ‘Fearless Girl’ in front of ‘Raging Bull’ is a historical moment,” said Visbal. Also on Thursday, a “Fearless Girl” replica was placed in Oslo, in front of Norway’s legislative building. “I’m really excited that we have a piece on the other side of the world that’s sending this message of diversity,” Visbal said.

By: Hadassa Kalatizadeh

 

Actress’ Daughter & One Other Child Killed in Bklyn Car Crash

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Ruthie Ann Miles (left) with daughter Abigail Blumenstein in February of 2017

One of the two children who were killed in a horrifying car accident in Brooklyn last week was the four-year-old daughter of Broadway actress Ruthie Ann Miles.

Miles herself was said by police to be in critical but stable condition. Her daughter’s name is Abigail Blumenstein. The name of the second child, just one year old, is Joshua Lew.

The 34-year-old pregnant actress, who earned a Tony Award for her role in the King and I, was said to have been traveling to an event at a community center with the mother of a year-old boy who also died when Dorothy Bruns reportedly hit their car in Park Slope.

Bruns reportedly told police she had swerved to avoid hitting another car and, according to The Daily Best, “remembers waking up behind the wheel but was unaware that she had hit anyone.” Bruns was later released from police custody.

Miles’ Broadway colleague Ben Platt, tweeted a message in support for the actress and her GoFundMe page. It read: “This incredible woman of unimaginable kindness and goodness and talent is going through the absolutely unthinkable. Please help @RuthieAnnMiles if you can.”

The GoFundMe page itself reads: “Our dear friend Ruthie Ann Miles encountered tragedy on March 5, 2018, when a driver ran a red light in Brooklyn, striking four people, including Ruthie and her sweet four-year-old daughter, Abigail. Ruthie, who is pregnant, is injured and in critical condition, and, very sadly, Abigail passed away. This GoFundMe has been set up as a centralized point to accept donations. These contributions will go to Ruthie and her family. Ruthie is beloved by her many friends and colleagues in the Broadway and touring communities. She is always kind and always has a smile. It is our honor to help her in this difficult time. With thanks, Jack Stephens, Company Manager.”

The outpouring of support from fans and the general public has been strong.

According to People magazine, social media pages belonging to the actress were updated with a message to fans several days after the accident. It read, “Thank you for your prayers over our families and holding us in our pain. We are extremely grateful for your kindness and generosity. Ruthie is now out of ICU and healing, by all accounts it is a miracle our second child is unharmed. Please continue to pray for the Lew and the Blumenstein families as we process the unthinkable and lay our grief in the loving arms of Jesus. Joshua and Abigail are now resting in Heavenly peace and Joy.”

By: Kenneth H.M. Robeson

 

Cuomo Demands Independent Oversight After NYCHA Tour

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Governor Andrew Cuomo (D) on Monday called for the State Department of Health (DOH) to commence an immediate investigation into New York City Housing Authority (NYCHA) complexes and assess any violations on the premises

Governor Andrew Cuomo (D) on Monday called for the State Department of Health (DOH) to commence an immediate investigation into New York City Housing Authority (NYCHA) complexes and assess any violations on the premises.

The order followed Cuomo making good on a NYCHA tenants offer for the governor to tour a development in the Bronx. After, the tour Cuomo called the living conditions “disgusting” and committed himself to improving the living conditions of the city’s 390,000 public housing residents.

NYCHA has been fighting multiple controversies in recent months including fraudulent lead inspections and a heating crisis that left over 80 percent of public housing residents without heat or hot water during the Winter.

“I accepted the tenants’ invitation today to tour NYCHA facilities and I stand firmly with the residents. I have been through NYCHA housing many times over many years. It is much, much worse than anything I have ever seen before. There is no doubt the tenants are right and the conditions have gotten much, much worse recently,” said Cuomo.

Additionally, Cuomo noted the lack of effective progress by NYCHA to make any repairs or improvements to the 150 developments across the city citing recent million dollar funding.

“Money is not now the answer. The problem is NYCHA incompetence because they cannot effectively or quickly spend the money, and the situation is critical and urgent. NYCHA informed us that it would take 3 or 4 years to spend the money and make the repairs. That is a nonstarter. We don’t need $200 million to sit on a shelf. We need immediate progress and solutions, not press release progress or political finger pointing. I want a solution for the children of NYCHA now,” said Cuomo.

In January, Mayor Bill de Blasio announced a $200 million investment to replace boilers and upgrade the heating systems at 20 NYCHA developments experiencing chronic outages. However, the funding is not expected to kick in until 2019 and will be invested over three years and not all at once.

The tour comes off the heels of a lawsuit filed against the city last week by residents who are accusing NYCHA of “years of neglect” and “systemic violations of the law,” according to reports.

Late last month, the Citywide Council of Presidents (CCOP), made up of the leaders of resident associations at different public housing developments, demanded an independent monitor to oversee NYCHA as part of the lawsuit.

The tour was not well received by all. City Councilman Jumaane Williams (D-Flatbush, East Flatbush, Midwood) was quick to note the lack of state funding for the ailing authority and claimed Cuomo’s tour was simply a publicity stunt.

By: Kelly Mena

 

 

Michael Paul Enterprises Sells Actress Brooke Shields’ UES Home for $18.2M

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The properties sold at 163-167 East 62nd Street included the former home of actress Brooke Shields at 165 East 62nd. She purchased the home in 1982 from two-time Oscar nominated composer, George Barrie, who had lived there for 16 years.

Developer Michael Paul Enterprises sold an Upper East Side property assemblage, a few blocks from Central Park, for $18.2 million. The properties sold at 163-167 East 62nd Street included the former home of actress Brooke Shields at 165 East 62nd. She purchased the home in 1982 from two-time Oscar nominated composer, George Barrie, who had lived there for 16 years.

Inside actress Brooke Shields’ upper east side apartment

As reported by the Real Deal, in 2015, Michael Paul Enterprises had purchased 163-165 East 62nd Street for a combined $14.05 million. The construction management firm planned to build a six-story, five-unit building at the site. Then last year, the company purchased neighboring 167 East 62nd Street for roughly $7.2 million. It expanded its project, planning for a seven-story, 10-unit building. With the sale of the properties, the condo development plans have been abandoned. Michael Paul Enterprises made no immediate comment on his decision to sell.

The buyer, Churchill Capital Management, has been active of late. Last month, Gary Podell’s Churchill partnered with Square Advisors to purchase 5-7 Mercer Street in Soho for $21 million. In July, they also paired to buy three contiguous rental buildings at 439-443 West 48th Street, in Hell’s Kitchen, for $15.5 million. The 34 market-rate apartments there were purchased from Yaron Finkelstein.

Other recent real estate news for the Upper East Side includes a new townhouse listing for $39 million at 22 East 67th Street, for sale by Philip Falcone, former hedge fund manager. Also, JMC Holdings recently secured a loan for $51 million with which it will buy one of New York REIT’s last properties from their liquidation, namely the office building at 306 East 61st Street. The loan from Square Mile Capital Management will cover the $47 million cost of purchasing the Lenox Hill building, plus capital improvements and leasing costs associated with the deal. JMC hopes to transform the building into a posh boutique building.

By: Ellen Cans

 

North Williamsburg Loft Building Hits Market for $52M

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151 Kent Avenue in Williamsburg, New York. (Photo: Courtesy of Cushman & Wakefield)

A former factory that is now a three-story loft building, and has been the home of several artist, in Brooklyn’s trendy neighborhood of Williamsburg has gone on the market with an asking price of $52 million.

The building is in the northern section of the area at 151 Kent Avenue between North Fourth and North Fifth streets. Over the past ten years this neighborhood has been transformed by rezoning and new developments along the waterfront. This property is just one block from an East River ferry stop and two blocks south from the beautiful East River State Park. The brick building contains 56,550-square-feet, spread across 46 fully leased loft units. It also has a basement, and the potential for expansion with 34,000-square-feet of air rights. Along Kent Avenue, the property has 200 feet that could be turned into a profitable retail space.

In a statement, Brendan Maddigan of Cushman & Wakefield, who is marketing the property with his colleagues Ethan Stanton and Michael Gigante, said, “Loft buildings of this scale are rarely available in North Williamsburg.”

In the late 1990s, artists converted the former factory into loft-style residences, up until the property came into Loft Law’s sights, which then worked to get the building up to code. The co-living company Pure House recently leased a portion of the property, but it ended up shutting down its units there and the property owner decided to rent lofts the traditional way.

Crain’s News reports, “The listing is hitting the market at an uncertain time for Williamsburg and much of northern Brooklyn. In April the Metropolitan Transportation Authority plans to begin a 15-month shutdown of the deteriorating East River tunnel used by the L train. The repair project has sowed fears in the real estate community of softening demand and prices in the neighborhoods along the subway line. The city has unveiled a plan to beef up bus and ferry service. The de Blasio administration is also planning a streetcar that would run along Kent Avenue in front of the property, though officials have been mum on the project’s progress lately. It faces huge price obstacles, hinging on how much subsurface infrastructure must be moved.”

By Charles Bernstein

 

Chassidic Dad Lauds Bklyn DA for Innovative Drug Rehab Program

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Brooklyn District Attorney Eric Gonzalez is making good on his promise to launch a new program, offering those charged with misdemeanor drug offenses the option of treatment and counseling in lieu of a prison sentence. The initiative was announced at a press conference on Tuesday in conjunction with the NYPD and the City Council. Project CLEAR (Collaborative Legal Engagement Assistance Response) will assess individuals with drug abuse and refer them for appropriate services. If the individual chooses to comply with the rehabilitation recommendations made for them, the District Attorney’s office will decline to prosecute, waive the requirement to appear in court, and seal all associated arrest records from their file. As reported by VIN News, the idea was first hatched 20 months ago by Gonzalez when he was still the acting DA.

“Sick people don’t need to be punished and to learn a lesson in a cold prison, but rather they need to be nurtured back to health in a warm, loving and caring environment,” said Abe Klein, who has been a strong advocate for the program, after losing his own daughter to substance abuse. Klein acknowledges that unfortunately addiction had become a problem even in the Orthodox Jewish community. Gonzalez said that he hopes to make rehabilitation facilities that will be culturally sensitive and which will be respectful of religious needs.

Gonzalez estimates that the program can serve roughly 700 people this year (based on last year’s arrest numbers), and then many more when it is made available borough-wide. Project Clear was already launched last month in the six Brooklyn South precincts with the highest rates of overdoses. Those precincts include: Coney Island (60th Precinct), Sheepshead Bay (the 61st Precinct), Bensonhurst, Gravesend (62nd Precinct), Dyker Heights, Bay Ridge (68th Precinct ), Prospect-Lefferts Gardens, Crown Heights (71st Precinct ), and Sunset Park (72nd Precinct).

“Project CLEAR will give those arrested on misdemeanor drug charges a choice that will prevent them from having a criminal record and give them an opportunity to put the brakes on their risky behavior by providing them with a path to redemption and proper care,” said City Councilman Chaim Deutsch.

By: Ilana Siyance

 

Offices Fleeing to the Bronx; ‘Vibe’ Cited for Relocation

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William Bollinger and Joshua Weissman, both of JCAL Development Group

The Bronx is becoming the location of choice for regional businesses, who are relocating there at an impressive rate.

As artist Greg Kessler recently explained to the New York Post, “Artists come there to work and create. The vibe is an industrial, working environment — chill. I think there are tons of artists [here], I have only scratched the surface. I have a space in which to create, which is half the battle. It’s about an hour commute, but it’s worth it.”

Ross Sapir, president of Bronx-based Roadway Moving & Storage, Inc., told the Post that “Square footage is more affordable than other boroughs. The Bronx gives you minutes-away access to the city and there are no tolls to go through like [in] the other boroughs.” Roadway customer-service rep James Reid added, “I’d rather have to travel further for my job and enjoy it than have a short commute and be unhappy.”

The Post also quoted Josh Weissman, president of JCAL Development Group, a South Bronx-based real estate development and construction company, who said that “The Bronx is booming with talent, pride, fashion, spirit and resiliency. You see construction everywhere. The Mott Haven area is experiencing more market-rate development than perhaps other areas.”

In his February 22 “State of the Borough” address to a crowded auditorium at the Bronx High School of Science, Bronx Borough President Ruben Diaz Jr. noted that the borough had seen dramatic decreases in unemployment and crime concurrent with a historic influx of private development and new housing units. “Look at how different things are in this borough today than just a decade ago. We have set the bar for the entire nation on transformative urban renewal and redevelopment. We are the new standard for revitalization.”

Since the borough president took office in May 2009, unemployment has been cut by more than half, down to 5.5 percent, and nearly 110,000 more Bronx resident have jobs. Additionally, the borough has seen more than 21,000 new units of affordable housing constructed during that timeframe.

“We’re keeping people in their homes, building new housing units for a diverse population, and setting the standard for tenant protection for the city,” said Diaz.

Diaz called for greater synergy between the City University of New York and employers. In particular, he asked for the creation of incentive programs such as tax breaks and preferences on city contracts for those companies that hire recent CUNY graduates.

“We will continue to support our CUNY system, as well, as we marry our students’ job skills with the needs of this city. We can create incentive programs that directly link CUNY graduates with jobs,” said Diaz. “We must build the bridges to success through synergy.”

By: Andrew Blodgett Mayfair

 

Number of Female Billionaires at All Time High

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Alice Walton, whose father founded Walmart, is the 16th richest person with a net worth estimated at $46 billion. (Photo Credit: Wikimedia Commons)

The annual ranking of all the billionaires in the world was recently released by Forbes magazine, and incredibly 256 of the 2,208 super rich people were women. Even though less than 12 percent of the index is made up of females, this number does mark a record high for women.

Among the top 20 wealthiest individuals in the world, there were just two women, who both inherited their fortunes. At 16th place, with a net worth around $46 billion is Alice Walton, whose father was the creator of the superstore chain Walmart. The new matriarch of the family who founded L’Oréal, Françoise Bettencourt Meyers, ranked 18th with a fortuned valued at $42.2 billion.

While the majority of female billionaires were made by inheritance, there were 72 women who were self-made billionaires, which is an all-time high according to Forbes. The Post report, “In pole position is the China-born, Hong Kong billionaire Zhou Qunfei, who is in her late 40s. Zhou’s fortune, which the magazine pegs at $7.8 billion, derives from Lens Technology, the smartphone screen maker she created. According to Forbes, the countries with the large numbers of female billionaires were the United States and China. That’s not exactly surprising, given that they’re the first and second largest economies in the world. That said, it’s also important to note that while many women inherited wealth, the likes of Australian mining magnate Gina Rinehart (in 69th spot with a fortune of $17.2 billion) and German industrialist Susanne Klatten (32nd place, $25 billion) played significant roles in growing those fortunes.”

In 1,650th place with $1.47 billion is the list’s youngest member, 21-year-old Alexandra Andresen of Norway, who has a large stake in the family-owned hedge fund that is operated by her father. (, $1.47 billion), who at 21 has a huge stake in a family-owned hedge fund that her father still runs. The oldest woman is Peru’s

93-year-old Ana Maria Brescia Cafferata of Peru is the list’s oldest woman in the 1,561th position with $1.5 billion. Her company controls the majority of the fish meal supply in the world.

The list is of course topped by the usual extremely wealthy. Jeff Bezos of Amazon was number one with his net value at $112 billion, with $90 billion Microsoft co-founder and philanthropist Bill Gates took second, and third was investor Warren Buffet with $84 billion.

By Hannah Hayes

 

 

No Bidders for GoPro; Action-Camera Maker Still Searching

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CEO Nick Woodman commented to Bloomberg News in February, “My job as CEO is to … create as big an opportunity for our investors as possible and … if we can achieve that more easily and more quickly with a partner, we would jump at the chance to have that opportunity.”

It is being reported by the New York Post that action-camera maker GoPro has thus far had no success in finding offers for a possible sale. The company had hired JPMorgan to research such a deal.

An individual with what the Post termed “good knowledge of the sales process” reportedly told the paper that there were no potential buyers yet identified.

CEO Nick Woodman commented to Bloomberg News in February, “My job as CEO is to … create as big an opportunity for our investors as possible and … if we can achieve that more easily and more quickly with a partner, we would jump at the chance to have that opportunity.”

Last year, GoPro sold 4.3 million cameras, a 9.6 percent fall compared to the prior year, according to the Post.

The company likes to say that it “frees people to celebrate the moment, inspiring others to do the same. From cameras and drones to apps and accessories, everything we do is geared to help you capture life as you live it, share the experience and pass on the stoke. We believe that sharing our experiences makes them more meaningful and way more fun.

GoPro was founded in 2002 by Woodman, “a surfer, skier and motorsports enthusiast in search of a better way to film himself and his friends surfing,” its web site notes. “What started with a 35mm camera and a wrist strap made from old wetsuits and plastic scraps has grown into an international company that has sold over 26 million GoPro cameras in more than 100 countries.

“But it’s the millions of passionate GoPro users around the globe who bring the magic to life,” the company added. “They humble and inspire us every day with incredible creativity that helps us see the world in an all-new way—and fires us up to keep creating the most awesome, innovative products possible.”

Earlier this month, GoPro released a new feature for its cloud-based subscription service, PLUS, that will automatically offload photos and videos from your GoPro to the cloud via a mobile device. At $4.99 a month, the firm says in a release, GoPro PLUS features a “you break it, we’ll replace it” camera protection policy and provides users with unlimited photo and 35 hours of video storage in the cloud. “This new functionality will give GoPro PLUS users a true end-to-end experience, eliminating the need to remove SD cards or plug the GoPro into a computer to offload, edit and backup content.”

“This new functionality solves a pain point for our customers by giving them an easy way to offload and save their content in the cloud from their mobile device – no computer needed,” said Meghan Laffey, Vice President of Product at GoPro. “And with the content preserved in the PLUS cloud you can go out and keep capturing awesome new moments with your GoPro. This is just one of the cool new functions for PLUS that we will roll-out this year.”

GoPro recently enhanced its GoPro PLUS subscription service at the end of January and since then has seen nearly 20,000 new subscription signups. According to the company, the new mobile offload feature for PLUS is now available for iOS users via the GoPro App, with Android device compatibility “coming soon.”

By: Henry Rubinowitz

 

Was Kushner Trying to “Unload” Observer Media on Haim Saban?

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Jared Kushner, the Post claims, was “secretly engaged in talks to sell his struggling news organization — which had abandoned its weekly print edition right after the 2016 election — to billionaire Univision Chairman Haim Saban (pictured above) and David Brock, the progressive media figure with aspirations to turn the news outlet into “the Breitbart of the left,” according to BuzzFeed.”

Jared Kushner reportedly placed his Observer Media into a family trust when he joined his father-in-law, President Trump, as an adviser in the White House, the New York Post is reporting, “but not before he tried to unload the publication to a pair of left-leaning political operatives.”

Kushner, the Post claims, was “secretly engaged in talks to sell his struggling news organization — which had abandoned its weekly print edition right after the 2016 election — to billionaire Univision Chairman Haim Saban and David Brock, the progressive media figure with aspirations to turn the news outlet into “the Breitbart of the left,” according to BuzzFeed.”

Ken Kurson, the paper’s editor at the time, told the Post that Kushner was not the one who initiated talks “and largely recused himself after an initial discussion, according to BuzzFeed. But Kushner’s brother-in-law, Joseph Meyer, the Observer publisher, was part of the sale talks.”

Observer Media’s web site characterizes it as a diversified media, information and services company with interests in digital media such as Observer and Commercial Observer, and information platforms including Realgraph. “Observer is a digital media company, chronicling the world’s power players in business, policy, entertainment, technology, art, travel, real estate and dining. Through credible, authoritative and thought-leadership content, Observer inspires and challenges an urban audience of global thinkers, business leaders and luxury consumers.”

Commercial Observer is the leading commercial real estate media company. Its content, events and platforms connect and inform industry participants of the key trends and leaders defining the global real estate landscape, the company says. RealGraph, a digital platform launched in 2017, connects commercial industry real estate professionals and businesses.

On February 26, Commercial Observer announced that it has expanded its coverage to include the greater Los Angeles metropolitan area. The New York-based publication will bring the same exclusive, in-depth reporting of all aspects of the commercial real estate industry to Los Angeles including leasing, finance, investment sales and design and construction news, it said in a release.

“Coverage of the L.A. market will feature a mix of transactional news, professional profiles, industry insights and bylined articles written by local commercial real estate professionals.

“By expanding its coverage nationally to Los Angeles, Commercial Observer is following the needs of its readers and clients,” said James Karklins, president of Commercial Observer. “Commercial Observer produces best-in-class reporting of the commercial real estate industry, providing a platform that allows companies the opportunity to speak directly to their target audiences—including lenders, owners, brokers and other professional services firms servicing the industry—wherever they are.”

In addition to its breaking news coverage online, the firm added, Commercial Observer has launched a weekly Los Angeles e-newsletter, Los Angeles Weekly Pulse that will deliver regional and national commercial real estate market news directly to more than 10,000 industry professionals across the region.

By Howard M. Riell

 

In Texas, George Soros Notches Another DA Primary Victory

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Soros (AP)

Soros poured nearly $1 million into Bexar County race

Yet another candidate for district attorney primarily financed by liberal billionaire George Soros has won a primary election—this time in Texas.

The Daily Caller notes that Joe Gonzales defeated incumbent Nico Lahood in Tuesday’s Democratic primary for district attorney in Bexar County, Texas. Bexar County, which includes the city of San Antonio, is one of the most populous counties in the United States.

Soros infused nearly $1 million into the race through the Texas Justice & Public Safety PAC, a super PAC established for the sole purpose of backing Gonzales. Gonzales will now face Republican Tylden Shaeffer, a criminal defense attorney and former prosecutor in the county, on Nov. 6.

Soros operates in the same manner in almost every city that he enters: The wealthy financier will set up a super PAC, deposit funds well above what others would raise for a district attorney’s race, back his candidate, refund himself any excess money at the conclusion of an election, and then dissolve the PAC.

Soros has already quietly funded a number of far-left district attorney candidates in a number of cities.

Prior to Gonzales, Soros most recently poured nearly $2 million in funding in Philadelphia’s district attorney’s race to support far-left candidate Larry Krasner. Krasner, who previously sued the police department more than 75 times and represented the likes of Black Lives Matter during his time as a defense attorney, defeated seven Democratic challengers thanks to major funding from Soros.

The committee that Soros established for Krasner, the Philadelphia Justice & Public Safety PAC, was also the first PAC ever established in the city of Philadelphia for a district attorney’s race.

Republican prosecutor Beth Grossman, who ran against Krasner, told the Washington Free Beacon prior to the election that she worried Philadelphia would turn into another Baltimore or Chicago if Krasner were to win. Krasner defeated Grossman by nearly 40 percentage points in the overwhelmingly liberal city.

Krasner purged 31 prosecutors from the DA’s office just four days after being sworn into his position. Most of the prosecutors pushed out of the office were in the homicide division, drug enforcement, and civil asset forfeiture units.

Soros has now funded DA races in Florida, Illinois, Mississippi, Louisiana, and New Mexico, among others. Soros-backed candidates have won nearly every election they’ve ran in due to their large cash advantage over their opponents.

The Democracy Alliance, a liberal dark money donor network where each member vows to send hundreds of thousands in funding to approved groups, which was co-founded by Soros, talked of ramping up involvement in district attorney races at their secretive fall investment conference late last year, documents obtained by the Free Beacon show.

By: Joe Schoffstall
(Washington Free Beacon)