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☆ Former Avenue employee accused of 'blackmailing' billionaire Marc Lasry countersues, claiming sexual harassment including forced kissing, groping, and comments about her body
▼ + stars: | 2024-10-24 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +4 min

Gina Strum, the former Avenue Capital employee accused of blackmailing her boss, countersued. AdvertisementIn response to Avenue Capital's lawsuit against her, former fundraiser Gina Strum has countersued, accusing her former bosses, including billionaire Marc Lasry, of sexual harassment and gender discrimination. A spokesperson for Avenue said: "Ms. Strum's allegations are completely false and represent her further attempt to malign the reputations of Mr. Lasry, Ms. Gardner, and Avenue for financial gain." Related storiesUnlike Lasry's suit, which accused Strum of "blackmailing" him, Strum's lawsuit does not include extensive written evidence, such as texts or emails of the harassment. AdvertisementOther eye-catching bits of Strum's suit include accusations that Lasry:

Persons: Gina Strum, Marc Lasry, —, Sonia Gardner, Daniel Kaiser, CK Hoffler, Jesse Jackson, Lasry —, Strum, Lasry, Gardner, Strum —, Jane, Martin Gantz, Lasry's Organizations: Capital, Service, Avenue, Milwaukee Bucks, Lasry, New York Locations: New York, Instagram, New York City

☆ As Eric Adams prepares to appear in court, the number of Democrats calling for his resignation keeps growing
▼ + stars: | 2024-09-27 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +4 min

New York City Mayor Eric Adams is set to appear in court over bribery and wire fraud charges. AdvertisementAs New York City Mayor Eric Adams prepares for court, the number of Democrats calling for his resignation is growing. Meanwhile, at least four members of the New York City Council have encouraged Adams to step back, the outlet said. We deserve better, which is why Mayor Adams should step down," Sandy Nurse wrote on X. Hochul issued a statement on Thursday asking Adams to "find an appropriate path forward to ensure the people of New York City are being well-served by their leaders."

Persons: Eric Adams, Adams, —, Katharine Parker, Alexandria Ocasio, Cortez, Brad Lander, Lander, John Avlon, Laura Gillen, Avlon, Sandy Nurse, Sen, John C, Liu, Kathy Hochul, Hochul Organizations: York City, Service, New York City, New York Times, New, Democratic Locations: York, Manhattan, Rep, Alexandria, New York City, Brad Lander , New York, New York, . New York

☆ Eric Adams expected to face charges and A's play their last game in Oakland: Morning Rundown
▼ + stars: | 2024-09-26 | by ( Elizabeth Robinson | Elizabeth Robinson Is A Newsletter Editor For Nbc News | Based In Los Angeles. | ) www.nbcnews.com time to read: +9 min

New York Mayor Eric Adams is set to face federal charges. And the Oakland A’s play their last game in the city they’ve called home for over 50 years. New York Mayor Eric Adams expected to face federal chargesNew York Mayor Eric Adams has been indicted and is expected to be charged today by prosecutors out of the Southern District of New York, two sources familiar with the matter said. More coverage of Eric Adams:Calls grew for Adams to resign, including from Rep. Alexandria Ocasio-Cortez, New York City Comptroller Brad Lander and more. Two abandoned Los Angeles mansions owned by a Hollywood producer are covered in graffiti , drawing ire from neighbors and condemnation from city officials.

Persons: Eric Adams, Hurricane Helene, Adams, ”, “, Alexandria Ocasio, Brad Lander, Florida Hurricane Helene, Helene, Harris, Kamala Harris, Volodymyr Zelenskyy —, Donald Trump, Trump, It’s, Joe Biden, David McNew, Oakland, Ezra Shaw, they’ve, John Fisher, — revile Fisher, David K, Li, Dana Varinsky, Elizabeth Robinson Organizations: York, Oakland, New York, Southern, of, FBI, Turkish Consulate, NYPD, Rep, Florida Hurricane, NOAA, National Hurricane Center, Tallahassee International, United, European Union, Hezbollah, Zelenskyy, White House, U.S, Democratic, Secret, Trump, An, Oakland Coliseum, Oakland Athletics, Cleveland Guardians, Athletics, NBC Locations: Florida, of New York, Brooklyn, Turkish, Alexandria, Cortez , New York City, Hurricane, Tennessee, Tallahassee, Israel, Lebanon, United States, Gaza, Russia, Ukraine, Douglas , Arizona, An Alabama, California, Los Angeles, Hollywood, Saudi, San Francisco Bay, Las Vegas, Sacramento

☆ America's 10 best states for infrastructure, where you can rely on roads, bridges, airports, power, and internet
▼ + stars: | 2024-07-11 | by ( Scott Cohn | ) www.cnbc.com time to read: +14 min

To rate each state's infrastructure, we look at roads, bridges, ports and airports. New in 2024, we evaluate so-called site readiness programs set up in many states to link companies with shovel-ready sites. The Economic Development Partnership of Alabama offers one of the more robust site readiness programs in the nation. Roads, bridges, and broadband are also in excellent shape in Tennessee. A respectable 24% of the state's power comes from renewable energy, putting it in the top half of states.

Persons: Pete Buttigieg, Buttigieg, Gary Hershorn, Brad Lander, Kathy Hochul, Luke Sharrett, Liam Kennedy, Chicago —, Carl Sandburg, Minnesotans, Tim Walz, Nathan Howard, — Virginia, Caitlin O'Hara, Elijah Nouvelage Organizations: Infrastructure Law, CNBC, Law, Business, Empire, Hudson, Corbis, Census, Gov, Indiana, CSX Corp, Bloomberg, Getty, Crossroads of America, U.S . Surface Transportation, Hoosier State, of Energy, Street Foundation, Economic Development, Alabama, Tennessee Downtown, Istock, Volunteer State, Energy Department, Illinois Metra, Chicago, Railroads, Census Bureau, Surface Transportation, Traffic, Midway, Chicago Department of Aviation, Lincoln, Minnesota, Jimkruger, Minnesota's Department of Economic, The Utah Department of Transportation, Beehive State, Planners, Virginia, Amazon.com Inc, —, Washington Post, Georgia Passengers, Hartsfield, Jackson Atlanta International Airport Locations: States, York, Manhattan, New York City, New York, Ohio, Clarksville , Indiana, U.S, Indiana, Alabama, Trinity , Alabama, Yellowhammer State, Tennessee Downtown Nashville , Tennessee, Tennessee, Illinois, Chicago, Rudybalasko, Texas, Minneapolis , Minnesota, Mississippi, Minneapolis, Utah, Salt Lake City, Beehive, Farmington, Ashburn , Virginia, Northern Virginia, Arizona, Phoenix , Arizona, Atlanta , Georgia

☆ Gunshot Detection System Wastes N.Y.P.D. Officers’ Time, Audit Finds
▼ + stars: | 2024-06-20 | by ( Alyce Mcfadden | ) www.nytimes.com time to read: +1 min

ShotSpotter, a system the Police Department uses to detect gunfire, is overwhelmingly inaccurate and leads officers to spend hundreds of hours each month investigating nonexistent shots, according to an audit the New York City comptroller released Thursday. The Police Department has spent more than $45 million on ShotSpotter since it started using it in 2015, even as cities around the country have stopped using the system. New York must decide before December whether to renew its contract with SoundThinking, the California company that owns the system, and the audit advises officials to decline until the system can be fully evaluated. Of the 940 alerts officers responded to last June, only 13 percent corresponded to confirmed shootings. And in 2022, the audit found, the system also failed to detect more than 200 real incidents of gunfire in Manhattan.

Organizations: Police Department, New, The Police Department, SoundThinking Locations: New York City, New York, California, Manhattan

☆ Elon Musk's pay package approval was a 'mistake' and Tesla needs to keep him in check, some institutional shareholders say
▼ + stars: | 2024-06-15 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +5 min

Read previewSome institutional Tesla shareholders told Business Insider that approving Elon Musk's record-shattering pay package was a mistake and that they have lingering concerns about Musk's ability to lead the company. Reuters reported that Vanguard, the largest institutional shareholder with a 7% stake in Tesla, voted to approve the pay package. Related storiesIt's unclear how many Tesla shares AkademikerPension owned as of June 14. Shareholders call for board oversightDuring Thursday's shareholder meeting, Musk challenged concerns from institutional shareholders, though he did not name specific investors. The California Public Employees' Retirement System, or CalPERs, which, according to the pension fund, owns about 9.2 million Tesla shares, has also been vocal about striking down Musk's pay package.

Persons: —, Elon Musk's, doesn't, Musk's, Tesla, Anders Schelde, James Murdoch, Kimbal, Musk, … they're, Brad Lander, Lander, CalPERS, Marcie Frost, isn't Organizations: Service, Business, Investors, Reuters, Vanguard, York, New, Retirement System, California Public Employees, Tesla Locations: Delaware, Danish, New York, York City, Tesla

☆ Delivering food on an e-bike or moped is a deadly endeavor in New York City
▼ + stars: | 2024-06-04 | by ( Eliza Relman | Madison Hoff | ) www.businessinsider.com time to read: +9 min

New York City delivery workers who don't use cars have one of the deadliest jobs in the city. There are now more than 65,000 app-based restaurant delivery workers in the city, and about 80% of them use e-bikes and motorbikes. The city report found that 28.7% of e-bike or moped delivery workers experienced injuries that forced them to miss work, lose consciousness, or seek medical care. They're asking for wider protected bike lanes, or even separate lanes for e-bikes and mopeds, and charging facilities for e-bikes. Indeed, "New Yorkers are dependent on app delivery workers to keep them safe and fed during times of crisis," she added.

Persons: —, takeout, Eric Adams, it's, Jose Alvarado, Andrew Lichtenstein, Brad Lander, Uber, DoorDash —, Ligia Guallpa, Guallpa, DoorDash, Guallpa's, Lander Organizations: Service, Business, Department of Consumer and Worker Protection, US Bureau of Labor Statistics, Bureau of Labor Statistics, Bloomberg, Yorkers, New York Times, Department of Transportation, Getty, City, York, Workers Justice Locations: New York City, York, New York, South Bronx, York City, City, Manhattan, Williamsburg , Brooklyn

☆ Should Elon Musk be paid $56 billion? Tesla shareholders get to vote
▼ + stars: | 2024-05-27 | by ( David Ingram | ) www.cnbc.com time to read: +10 min

Several investors released a joint letter this month urging fellow shareholders to vote down the package as excessive. Tesla shareholders approved the pay package in 2018, with compensation tied to Tesla's performance including its market value. And he still has time to meet goals he hasn't reached, including on revenue, because the pay package had a 10-year term. In the 440-page proxy statement explaining the vote, a committee of the Tesla board noted the "novel circumstances." Some people began sharing screenshots of their votes in April, shortly after the Tesla board announced the vote, and the deadline to vote online is June 12.

Persons: Elon Musk, The Beverly Hilton, Tesla, James Park, Musk, He's, Judge Kathaleen McCormick, McCormick, Nadya Malenko, hasn't, Ann Lipton, Lipton, — I'm, Musk's, there's, —, Rowe Price, didn't, Brad Lander Organizations: SpaceX, Tesla, The Beverly, Wall Street, University of California, CNBC, Bloomberg, Reuters, Boston College's, Tulane University, Disney, New York, Amalgamated Bank . Locations: Beverly Hills , California, U.S, Delaware, Austin , Texas, —, Los Angeles, Texas, New York City

☆ The US needs immigrants to fill jobs, but can't house them. Nowhere makes this more clear than New York City.
▼ + stars: | 2024-05-08 | by ( Eliza Relman | ) www.businessinsider.com time to read: +7 min

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

☆ Many large U.S. cities are in deep financial trouble. Here's why
▼ + stars: | 2024-04-25 | by ( Carlos Waters | In Carloswaters | ) www.cnbc.com time to read: +4 min

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

☆ NYC Comptroller: We have to make the energy transition from fossil fuels to cleaner renewable energy
▼ + stars: | 2024-01-31 | 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: 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

☆ New York City investment chief calls on Tesla to sanction Musk unless he apologizes
▼ + stars: | 2023-11-21 | by ( Ross Kerber | ) www.reuters.com time to read: +5 min

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

☆ Two Young Democratic Stars Collide Over Israel and Their Party’s Future
▼ + stars: | 2023-11-11 | by ( Nicholas Fandos | More About Nicholas Fandos | ) www.nytimes.com time to read: +5 min

“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

☆ Two U.S. funds to vote Mediobanca outgoing board's slate for board renewal
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +1 min

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

☆ The CEO of a New York-based company providing services to migrants was found to have falsely claimed that he held a degree in AI
▼ + stars: | 2023-09-18 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

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, ”

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

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

☆ Are office buildings the next 'Big Short' or the next widow-maker trade? The trader behind the ubersuccessful mall short shares his playbook for making money without flaming out.
▼ + stars: | 2023-08-17 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +16 min

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

☆ New York City pension chief urges pay clawbacks at Bank of America
▼ + stars: | 2023-07-18 | by ( Ross Kerber | ) www.reuters.com time to read: +2 min

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

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