Economy

Did High Fees and Poor Performance Cost NYC’s Pensions $2.5 Billion?

According to a report issued by the New York City comptroller's office in April, Wall Street money managers cost the city's public pension system $2.5 billion in "lost value" over the past ten years.

Kevin Barry of Grandma's Kitchen stands in front of a sign taped in the front window, which tells anyone passing by - and Sandy - that Grandma's will return. MetroFocus/ Georgia Kral
Georgia Kral  |  November 29, 2012 4:00 AM | 70 Comments
In Lower Manhattan, even the businesses that have re-opened are hurting.
Proposed New York Wheel and development courtesy of the mayor's office and the New York City Economic Development Corporation.
Melissa Checker for Gotham Gazette  |  November 27, 2012 10:43 AM | 2 Comments
After Sandy, residents doubt the wisdom of building world's largest Ferris Wheel on the North Shore.
Minimum wage was supposed to be on the legislative agenda this winter, but Sandy and undecided political leadership in the Senate has thrown that into question. Photo courtesy of Gotham Gazette.
David Howard King and Kamelia Kilawan for Gotham Gazette  |  November 26, 2012 11:46 AM | Comments
Minimum wage was supposed to be on the legislative agenda this winter, but many lawmakers are now focused on recovery from Hurricane Sandy.
NEA Chairman Rocco Landesman.
Christina Knight  |  November 21, 2012 2:49 PM | Comments
True to his slogan, "Art Works," Rocco Landesman was dedicated to showing art's economic benefits in local communities and to the Gross Domestic Product.
The city Human Resources Administration continues to distribute prepared meals in Coney Island. Photo by Gianna Palmer, The New York World
Gianna Palmer for The New York World  |  November 21, 2012 10:56 AM | Comments
With supermarkets shut down, residents still rely on relief-center groceries three weeks after Sandy.
Picture 5
Georgia Kral  |  November 21, 2012 4:00 AM | 1 Comment
New Yorkers think New Jersey Governor Chris Christie did the best job dealing with the storm, according to a Quinnipiac poll.VIDEO
Turkeys, ready to distribute. Flickr/ DC Central Kitchen
Georgia Kral  |  November 20, 2012 8:02 PM | Comments
The need for volunteers and donations is especially acute this year, due to Hurricane Sandy. There are many ways to donate time or money in New York, New Jersey, and Long Island.
Picture 4
NJ Today  |  November 20, 2012 4:00 AM | Comments
The purpose of the money raised is to assist hurricane victims beyond the money they receive from insurance and FEMA. VIDEO
Jacob Riis Park on the Rockaway Peninsula, nicknamed "The People's Beach," is now a massive short dump. Photo courtesy of the DSNY.
Georgia Kral  |  November 19, 2012 3:18 PM | 1 Comment
The Army Corps of Engineers estimates 3.6 million cubic yards of debris will ultimately be carted out of NYC.VIDEO
hoboken meeting fema aid
David Cruz for NJ Today  |  November 16, 2012 10:47 AM | Comments
After Hurricane Sandy, FEMA and the Small Business Administration don’t always fill the gap left by insurance coverage.VIDEO
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