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.

featured image thumbnail Alexey Sorokin
Stephan Rabimov and Alexey Timbul for DEPESHA  |  September 10, 2012 5:01 PM | Comments
The Russians are coming to New York Fashion Week, at the Lincoln Center tents, Milk Studios, Runway@Pier 57 and beyond.
Montclair State University (MSU) entrance in Montclair, N.J. The majority of the 10 companies participating in the LaunchPad tech accelerator there are from N.J.; the rest are from New York. Photo courtesy of MSU.
Young Soo Yang for NJ Today  |  September 10, 2012 10:28 AM | Comments
Mentorship, office space at Montclair State University and $20,000 in seed capital was given to 10 companies.
New York City Schools Chancellor Dennis Walcott said that. AP/Mike Groll
John Farley  |  September 7, 2012 3:00 PM | Comments
The analysis broke down graduation rates by race and country of origin, and looked at students who were discharged vs. those who dropped out.
The journalist Norman Oder has been chronicling the story of the Atlantic Yards development on his watchdog blog Atlantic Yards Report for more than five years. Photo by Jonathan Barkey.
Georgia Kral  |  September 6, 2012 4:00 AM | 1 Comment
The Barclays Center opens Sept. 28. Is it according to plan and what happens next?VIDEO
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Desirée Taylor for NJ Today  |  August 30, 2012 2:22 PM | Comments
Effective and passionate communicator or too bombastic? Opinions about Christie’s keynote speech vary greatly.VIDEO
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Christina Knight  |  August 30, 2012 4:00 AM | 1 Comment
Business has skyrocketed at Modell's Sporting Goods, located just across the street from where the Nets will play.
Deb Goldstein. "This is shot in what was once my brother's apartment. Now, 'Center Court' of the 'Barclay's Arena'". Photo by Michael Galinsky.
Toby Milstein  |  August 30, 2012 4:00 AM | 2 Comments
Deb Goldstein designed the t-shirt "I'm still calling it Atlantic Av - Pacific St."
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Norman Oder for City Limits  |  August 28, 2012 11:34 AM | Comments
Documents reveal tense negotiations between housing officials and Ratner over the affordable housing in the first Atlantic Yards residential tower.
At the New Lab, engineers, designers and students will work in a collaborative manufacturing environment. MetroFocus/ Georgia Kral.
Georgia Kral  |  August 28, 2012 4:00 AM | Comments
Take a tour of the New Lab, a collaborative design and fabrication center, opening soon.
Barclays Arena in Atlantic Yards will come under the jurisdiction of the NYPD's 78th Precinct on Oct. 21. But residents still have many concerns including traffic, parking, drunken event-goers and how expanded police operations in the area. Flickr/ChrisHamby
John Farley  |  August 24, 2012 4:00 AM | Comments
The 78th Precinct's borders will soon expand to include the home of the Brooklyn Nets and major arena events, and neighbors have opening night jitters.
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