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An influx of over 175,000 migrants in New York City has further exposed the city's housing crisis. AdvertisementNo country in the world attracts more immigrants than the US — and no place symbolizes this better than New York City. Pushing migrants out of sheltersNew York City has managed to absorb much larger influxes of immigrants in the past. The New York City comptroller's office says the Adams administration is intentionally making life more difficult for asylum-seekers as a way to force them out of the city. "It is just a system that is meant to really discourage people from getting help from the city and from exercising their rights that they have as residents of New York City."
Persons: Eric Adams, , It's, it's, aren't, He's, who've, Elon Musk, Selcuk Acar, Susan Pozo, Pozo, Goldman Sachs, Adams, Celeste Hornbach, they've, they're, Sam Stanton, Hornbach Organizations: Service, New, New York City, Getty, Immigrants, Western Michigan University, Goldman Locations: New York City, Southern, New York, York, stoke, New
Municipal governments across the United States are looking to rein in spending as pandemic-era stimulus dries up and inflation lingers for longer than expected. The group issued a AA investment grade general obligation bond rating for New York City in March 2024. The financial challenges within cities appear to be mounting despite high municipal credit ratings and robust demand for urban commodities like housing. "I think we can all agree that we're broke," said Houston Mayor John Whitmire in a March 2024 City Council budget hearing. Meanwhile, in the case of New York City, leaders remain optimistic about future returns.
Persons: Michael Rinaldi, Brad Lander, Sheila Weinberg, we're, Houston Mayor John Whitmire, Weinberg, We've, Lander, Eric Adams, Rinaldi, Adams Organizations: Fitch, AA, New, Truth, University of Denver, New York, Apple, Houston Mayor, Accounting, CNBC, Lander Locations: United States, U.S, New York City, Chicago, Houston, Portland , Oregon, New York
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNYC Comptroller: We have to make the energy transition from fossil fuels to cleaner renewable energyNew York City Comptroller Brad Lander joins "Squawk Box' to discuss the push by three of the city's pension funds to get some of the largest U.S. banks to disclose their financing ratios of clean energy to fossil fuel, the transition to renewable energy, and more.
Persons: Brad Lander Locations: York City
NYC Comptroller urges Tesla board to hold Elon Musk accountable
  + stars: | 2023-11-22 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNYC Comptroller urges Tesla board to hold Elon Musk accountableNew York City Comptroller Brad Lander joins 'Squawk Box' to discuss his letter to Tesla's board expressing concern after Elon Musk's support of an antisemitic conspiracy theory on his social media platform X, formerly known as Twitter.
Persons: Tesla, Brad Lander, Elon Musk's Organizations: Elon, Twitter Locations: New York City
Lander's remarks make him the latest Tesla shareholder to call on the EV maker to rein in Musk. Musk endorsed an antisemitic post on social media platform X, formerly known as Twitter, on Nov. 15. It remains unclear whether Tesla's board will take any action. If Musk fails to do so, Tesla's board should consider actions such as docking his pay, suspending him or terminating him, Lander added. He wrote to Tesla board chair Robyn Denholm on Monday that failing to take action would show Tesla's code of business ethics to be "toothless."
Persons: Tesla, Elon Musk, Rishi Sunak, Kirsty Wigglesworth, Brad Lander, Lander, Lander's, Ross Gerber, Musk, Linda Yaccarino, Robyn Denholm, Henry Ford, Nazism, Kristin Hull, Nia, Tesla's, Ross Kerber, David Gaffen, Sheila Dang, Greg Roumeliotis, Matthew Lewis Organizations: British, New York, Reuters, Nia Impact, Gerber Kawasaki Wealth & Investment Management, U.S . Securities, Exchange Commission, SpaceX, Boring Company, Ford Foundation, White, Media, America, Defamation League, Thomson Locations: London, Britain, New, New York City, New York, Dallas
“This is pursuing a proven and failed strategy,” Ms. Ocasio-Cortez said in a recent radio interview. Calls for a cease-fire by Ms. Ocasio-Cortez and others drew a stern rebuke from the White House, and she faced backlash for voting against a bipartisan resolution that expressed strong support for Israel. Ms. Ocasio-Cortez, who did not agree to an interview, met in Washington last month with the families of Jewish hostages kidnapped by Hamas. was trying to infiltrate the Democratic Party “to impose the ideological litmus tests on Israel” and “cleanse” those who disagree with them. It remains far from clear how many left-leaning Democrats Mr. Torres is moving.
Persons: Ms, Ocasio, Cortez, it’s, Rashida Tlaib, Cori Bush of, Israel, , Brad Lander, “ I’m, Dan Goldman, Torres, , lurch, Torres’s, Mr, Democratic Party “, Israel ”, combativeness, Waleed Shahid, Torres “, ” Jeremy Cohan Organizations: Democratic, White, Israel, Democrats, Democratic Socialists of America, Democratic Party, City Council, New York Locations: Queens, Bronx, Michigan, Cori Bush of Missouri, Gaza, Washington, Alexandria, New York City, New York, Israel, Tel, New
High-tide floods are not caused by the weather but by the twice monthly alignment of the Earth, sun and moon. But as climate change causes sea levels to rise, high tide floods — sometimes called nuisance floods or sunny-day floods because they can happen on clear days — are likely to inundate more coastal neighborhoods across the five boroughs. By 2050, Lower Manhattan could see 85 days of high-tide flooding annually, a fivefold increase. By the end of this century, 600,000 city residents could be affected by regular tidal flooding, according to the New York City Comptroller’s office. “Tidal flooding is a pretty significant existential climate threat,” said Louise Yeung, the chief climate officer for the comptroller’s office.
Persons: , Louise Yeung Organizations: New Locations: Queens, Jamaica, Lower Manhattan, New York City
MILAN, Oct 19 (Reuters) - The U.S. funds CalSTRS and New York City Comptroller said on Thursday they would vote in favour of the outgoing board's slate of nominees for the new Mediobanca board at the bank's annual meeting this month. Mediobanca's outgoing board has proposed 15 members, including a new term for current CEO Alberto Nagel and Chairman Renato Pagliaro ahead of the Oct. 28 meeting. The two funds did not disclose their stakes in Mediobanca. Proxy adviser Institutional Shareholder Services (ISS), Glass Lewis and Pensions & Investment Research Consultants (PIRC) said last week they were recommending Mediobanca investors vote in favour of the outgoing board's slate of nominees. Reporting by Gianluca Semeraro editing by Keith WeirOur Standards: The Thomson Reuters Trust Principles.
Persons: Alberto Nagel, Renato Pagliaro, Delfin, Leonardo Del Vecchio, Nagel, Del Vecchio, Glass Lewis, Gianluca Semeraro, Keith Weir Organizations: MILAN, New York, Services, Pensions & Investment Research Consultants, Thomson Locations: U.S, New, Mediobanca, Italian
Anthony Capone, CEO of DocGo, falsely claimed to have a degree in artificial intelligence in his company profile. Clarkson University confirmed to Insider that there is no record of the CEO earning a degree there. Capone acknowledged that his profile contained false information in a statement to the Times Union on Thursday. Specifically, it has come to my attention that my public biography erroneously states that I hold a bachelor's degree from Clarkson University. "I must clarify immediately: I do not have a master's degree from Clarkson University nor from any other institution.
Persons: Anthony Capone, DocGo, Capone, , Anthony Alexander Capone Organizations: Clarkson University, Service, Times Union, Securities, Exchanges Commission, NYC, New York Times, New, Times, State University of New, Potsdam Locations: Wall, Silicon, NYC, New York, New York City, State University of New York, Potsdam
DocGo was already under scrutiny when its no-bid contract with New York City came to light, prompting questions about what services the company was providing — as well as the quality of those services. Neither the company nor city officials were willing to voluntarily disclose details of the contract. Earlier this month, New York City Comptroller Brad Lander said there were “numerous outstanding issues and concerns” that prompted him to reject the city's $432 million no-bid emergency contract with DocGo. DocGo began as a medical services company, describing itself on its website as delivering “high-quality medical care outside traditional hospital or clinic settings across our service lines: Mobile Health Care, Medical Transportation and Remote Patient Monitoring/Chronic Disease Management. The company has been trying to land a lucrative contract, valued in the billions of dollars, with the federal government
Persons: DocGo, Anthony Capone's, Capone, , Capone's, Lee Bienstock, Brad Lander, Lander, Eric Adams, , Letitia James, Organizations: New, Albany Times Union, Clarkson University, U.S . Securities, Exchange Commission, DocGo, city’s Department of Housing Preservation, New York Times, Mobile Health Care, Medical Transportation, Disease, We’re Locations: New York City,
Fox, which has maintained it is proud of its dishonest 2020 election coverage, still faces an even larger, $2.7 billion lawsuit from election technology company Smartmatic. That is the crux of our lawsuit, and we look forward to making our case in court.”A spokesperson for Fox Corporation declined to comment on the lawsuit. A spokesperson for the New York City Comptroller’s office said the pension funds held 857,000 shares of Fox Corporation stock valued at $28.10 million. Fox Corporation, led by Rupert and Lachlan Murdoch, has kept the current Fox News leadership team that oversaw the network’s lie-filled 2020 coverage in place. Earlier this year, Fox News settled a defamation case with a Venezuelan businessman who had filed a lawsuit against the company over its 2020 election coverage.
Persons: , Brad Lander, ” Ellen Rosenblum, , Rupert, Lachlan Murdoch, Viet Dinh, Ray Epps, Fox, Abby Grossberg Organizations: CNN, Fox Corporation, Fox News, Fox, Voting, New, Dominion, FBI Locations: York, Oregon, Delaware, New York City, Viet, Arizona, Venezuelan
NEW YORK (AP) — New York City's pension funds and the state of Oregon sued Fox Corporation on Tuesday, alleging the company harmed investors by allowing Fox News to broadcast falsehoods about the 2020 election that exposed the network to defamation lawsuits. New York City's pension funds are long-term shareholders of Fox Corporation, with shares valued at $28.1 million as of the end of July. In a statement, Oregon Attorney General Ellen Rosenblum said the Fox breached its fiduciary duties by disregarding legal risks. “The directors’ choices exposed themselves and the company to liability and exposed their shareholders to significant risks," she said. “That is the crux of our lawsuit, and we look forward to making our case in court.”
Persons: , Brad Lander, Fox's, Donald Trump's, , Democrat Joe Biden, Lachlan Murdoch, Ellen Rosenblum Organizations: , Fox Corporation, Fox News, Voting Systems, Oregon, Dominion, Democrat, Fox Corp, Smartmatic, Fox Locations: York, Oregon, Delaware, New York City, Trump, Smartmatic USA
Dan McNamara's Polpo Capital is shorting office real estate, a risky move that could be lucrative. If you're looking for a doomsday vision of commercial real estate, you can find it there. "I don't think this is the 'Big Short,'" McNamara told me. This doesn't mean he doesn't have a game plan to make money off cultural shifts that could forever change the state of commercial real estate. Lucas Jackson/ReutersWhere he's going longOne risk of shorting real estate is that it's more susceptible to what's known in real-estate circles as "extend and pretend."
Persons: Dan McNamara's, McNamara, it's, It's, shorting, Carl Icahn, Jim Chanos, Brendan McDermid, Dan McNamara, McNamara's, Braver Stern, Dan McNamara McNamara's, suede loafers, McNamara didn't, Josh Nester, Polpo, he's, Morgan Stanley, Kamil Sadik, Lucas Jackson, Manus Clancy, You've, David Tepper's, Trepp's Clancy, Clancy, David Tepper Organizations: Central Park, New, Polpo, New York University, Columbia, Kynikos Associates, Enron, Asset Management, Reuters, UBS, Co, Societe Generale, Securitized Credit Partners, Credit Suisse, MP, Fund, Bloomberg, of America, Simon Property, Federal Locations: Manhattan, Sixth, Central, New York City, New York, MatlinPatterson, America, China, Italy, Westchester , New York, Tribeca, York, Westchester, Waterford , Connecticut, Baltimore, San Francisco
UPS and Teamsters to restart talks in effort to avoid strike
  + stars: | 2023-07-25 | by ( ) www.reuters.com   time to read: +2 min
LOS ANGELES, July 25 (Reuters) - United Parcel Service (UPS) (UPS.N) and the Teamsters union representing 340,000 employees at the package delivery firm plan to meet on Tuesday in an effort to avert a threatened strike on Aug. 1. The scheduled meeting, which both sides have confirmed, would be the first since UPS labor contract negotiators deadlocked on July 5. One estimate put the potential economic impact of a 10-day UPS strike at more than $7 billion, the costliest in modern times. That estimate from Michigan-based Anderson Economic Group includes UPS customer losses of $4.6 billion, lost wages of $1.1 billion and company losses of $816 million. "The vast, vast, vast majority of shareholders are eager to see a strike averted," New York City Comptroller Brad Lander told Reuters.
Persons: Brad Lander, Lander, Lisa Baertlein, Jamie Freed Organizations: United Parcel Service, Teamsters, International Brotherhood of Teamsters, UPS, Anderson Economic Group, York, Reuters, New York Retirement Systems, Thomson Locations: ANGELES, Michigan, York City, Los Angeles
Since the financial crisis of 2008, provisions to recover pay have been strengthened at top U.S. banks to limit risk-taking. Bank of America did not admit wrongdoing in its July 11 agreements with the Consumer Financial Protection Bureau (CFPB) and the Office of the Comptroller of the Currency. Lander oversees public-employee pension funds with some $300 million worth of Bank of America (BAC.N) stock. It said Bank of America charged multiple fees to customers who did not have enough funds in their accounts from February 2018 until February 2022. The bank said it voluntarily reduced overdraft fees and eliminated all nonsufficient fund fees in 2022.
Persons: Brad Lander, Lander, Wells, Michael Garland, Ross Kerber, Matthew Lewis Organizations: New York, of America's, Bank of America, Consumer Financial Protection Bureau, Reuters, Bank of, Human, of America, Thomson Locations: New, Charlotte , North Carolina, Reuters , New York City, New York City, Boston
Toyota shareholders make 15% the new win-win
  + stars: | 2023-06-16 | by ( Antony Currie | ) www.reuters.com   time to read: +3 min
Both Glass Lewis and ISS reckon there aren’t enough properly independent directors on the board, even though Toyota complies with the requirements laid down by the Tokyo Stock Exchange. Yet ISS held back from advising shareholders vote against them because it would risk “increasing management dominance of the board”. Toyota is a laggard on both and is now under pressure to get powerful investors back onside. CONTEXT NEWSMore than 15% of voting shareholders were against reappointing Chairman Akio Toyoda to Toyota Motor’s board at its annual meeting on June 14, the Japanese carmaker said on June 15. About 15% of shareholders who voted supported a resolution asking the company to issue an annual review of its climate lobbying activities.
Persons: Akio Toyoda, Glass Lewis, Glass Lewis plumped, Toyoda, Masahiko Oshima, carmaker, Pete Sweeney, Thomas Shum Organizations: MELBOURNE, Reuters, Toyota, ISS, Tokyo Stock Exchange, Sumitomo Mitsui Financial, Nikkei, California Public, New York, New York City Comptroller, Twitter, Thomson Locations: New York City
Toyota gets activism, without the activists
  + stars: | 2023-06-05 | by ( ) www.reuters.com   time to read: +2 min
SINGAPORE, June 5 (Reuters Breakingviews) - It’s one thing to be targeted by pushy activists looking for a quick return. It’s perhaps more embarrassing to receive the wholesale disapproval of American pension funds who are long-term stewards of capital. That’s the position the board of $200 billion carmaker Toyota (7203.T) finds itself in. The pair also favoured a resolution brought by Danish and Dutch pension funds urging Toyota to improve disclosure of its lobbying on climate change. Toyota insists its board adheres to the Tokyo Stock Exchange’s independence standards.
Persons: Akio Toyoda, Katrina Hamlin, Pete Sweeney, Pranav Kiran Organizations: Reuters, Toyota, New York, California Public Employees, Danish, Tokyo Stock, Twitter, Thomson Locations: SINGAPORE, New York City, Una, Saudi, East
Toyota shares closed up 3.4%, outperforming the 1.2% gain in the Nikkei index (.N225). BOARD INDEPENDENCENew York City Comptroller Brad Lander said in a statement the Toyota board was not adequately independent. The New York comptroller's office oversees a pension system with $243 billion in assets under management. Those funds held 6.7 million shares in Toyota Group companies, including Toyota Boshoku (3116.T) and Toyota Tsusho (8015.T) as of end March. The New York pension system has also urged both Ford (F.N) and General Motors (GM.N) to move rapidly toward electrification and to disclose more about their lobbying on vehicle standards.
Persons: Akio Toyoda, Glass Lewis, Toyoda, CalPERS, Brad Lander, Daniel Leussink, David Dolan, Maki Shiraki, Kevin Krolicki, Jamie Freed, Christopher Cushing, Leslie Adler Organizations: Toyota Motor Corp, California Public Employees, New York, Toyota, Tokyo Stock Exchange, Nikkei, The, Toyota Group, Ford, General Motors, Lexus, Thomson Locations: TOKYO, New York City, York, Tokyo
One of them, Glass Lewis, recommended shareholders vote against re-electing Toyoda, citing what it said was his responsibility for the lack of a sufficiently independent board. Toyota on Friday did not immediately comment on the votes against the re-election of Toyoda. The New York comptroller's office oversees a pension system with $243 billion in assets under management. BOARD INDEPENDENCENew York City Comptroller Brad Lander said the Toyota board was not adequately independent, in a statement explaining the vote by the funds it oversees. The New York pension system has also urged both Ford (F.N) and General Motors (GM.N) to move rapidly toward electrification and to disclose more about their lobbying on vehicle standards.
Persons: Akio Toyoda, Glass Lewis, Toyoda, CalPERS, Brad Lander, Elon, Daniel Leussink, David Dolan, Maki Shiraki, Kevin Krolicki, Jamie Freed Organizations: Toyota Motor Corp, California Public Employees, New York, Toyota, Tokyo Stock Exchange, The, New, Ford, General Motors, Thomson Locations: TOKYO, New York City, York, New York, Tokyo
One of them, Glass Lewis, recommended shareholders vote against re-electing Toyoda, citing what it said was his responsibility for the lack of a sufficiently independent board. CalPERS, which declined to comment, is the largest U.S. public pension fund with some $450 billion in assets under management. The New York City pension funds held 6.7 million shares in Toyota Group companies, including Toyota Boshoku (3116.T) and Toyota Tsusho (8015.T) as of end March. BOARD INDEPENDENCENew York City Comptroller Brad Lander said the Toyota board was not adequately independent, in a statement explaining the vote by the funds it oversees. The New York pension system has also urged both Ford (F.N) and General Motors (GM.N) to move rapidly toward electrification and to disclose more about their lobbying on vehicle standards.
Persons: Akio Toyoda, Glass Lewis, Toyoda, CalPERS, Brad Lander, Daniel Leussink, David Dolan, Maki Shiraki, Kevin Krolicki, Jamie Freed, Christopher Cushing Organizations: Toyota Motor Corp, California Public Employees, New York, Toyota, Tokyo Stock Exchange, The, New, Toyota Group, Nikkei, Ford, General Motors, Lexus, Thomson Locations: TOKYO, New York City, York, Tokyo
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe need a CEO focused on Tesla, not Twitter or SpaceX: NYC Comptroller Brad LanderA group of 17 Tesla investors sent an open letter to the board accusing the company of mismanagement. New York City Comptroller Brad Lander joins 'Squawk Box' to discuss his decision to sign on as one of the investors.
Most major private-investment firms are working to cut down on emissions their portfolio companies send into the atmosphere. It's also set targets to get three-quarters of its majority-owned power-and-energy portfolio companies' emissions that they generate directly and indirectly covered by Paris-aligned climate goals by 2025. A growing number of private-equity firms' pension-fund limited partners are under pressure themselves to either invest around environmental, social, and governance matters or shun investing through those lenses altogether. Firms' plans with their upstream investments tend to draw the most attention because they're involved in drilling for new oil and gas. If you're a private-equity firm and you continue to make new upstream investments, I don't believe you have a Paris-aligned plan.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBiden's EV push: EPA set to propose strict new auto pollution limitsHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC. Brad Lander, New York City comptroller, and Vivek Ramaswamy, Strive Asset Management co-founder, join the show to discuss the White House's electric vehicle push.
Companies BlackRock Inc FollowBOSTON, April 5 (Reuters) - New York City pension leaders will press external fund managers, including private market fund managers, on Wednesday for details on their plans to cut greenhouse gas emissions, officials said. Public, and private market managers that have faced less pressure on climate issues to date, run most of the roughly $240 billion in New York City pension fund assets. Boards overseeing the majority of that money have approved new expectations for those managers, New York City Comptroller Brad Lander said, which will be announced on Wednesday. Lander urged BlackRock Inc last fall to take stronger environmental steps such as phasing-out high emitting assets. Lander said the plans recently approved by New York City pension boards extend similar calls to other external managers, including those that manage the 25% of pension assets held in fixed income and the 25% in private markets.
New York CNN —Starbucks’ investors have voted in favor of an independent review of the company’s aggressive anti-union efforts. The assessment would include remedies if it finds that Starbucks has broken its own stated commitment to workers rights. Starbucks workers rally in celebration of the first anniversary of the union's founding on December 9, 2022 in New York City. Over the past year and a half, Starbucks has been waging a bitter fight against unionization efforts. During a hearing before the Senate Health, Education, Labor, and Pensions Committee about the company’s labor practices on Wednesday, one former employee said he was wrongfully fired after organizing.
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