In New York City, rent has been going up at nearly double the rate of family incomes. The result? As rents skyrocket, more and more New Yorkers find they can no longer afford the neighborhood they call home.
Peatlands are wetland ecosystems that can store, on average, 10 times more carbon dioxide (CO2), the leading greenhouse gas, than other ecosystems. As such, the world’s peat bogs represent an important “carbon sink”—a place where CO2 is stored below ground and can’t escape into the atmosphere and exacerbate global warming.
In an attempt to plug the budget gap in a deteriorating economy and keep the cash flowing the “terror level” has been raised in order to keep the citizenry docile. With no attacks by Al Qaeda, the prospect of maintaining a high alert (it requires cash, after all) becomes a little thin. Suffolk County is not exactly the first target on the mind of Bin Laden. Of course, the real 1000 lb. gorilla in this case is known as Derivatives.
Since Bob Morgenthau, known as “The Boss” by many of his staff, has decided not to run again, the field seems to be narrowed to two major candidates: Cyrus Vance, Jr. and Leslie Crocker Snyder. Both are experienced people who know criminal law. Snyder, who has been a judge and Vance, a former Manhattan A.D.A and criminal defense attorney, are both formidable candidates.
As the politicians and media play out their roles in the recent real estate hysteria in the Hamptons, all eyes are looking away from the mismanagement and incompetence in the face of this financial Armageddon.
Having spent 40 years in a corporation, mostly in middle management, I see the culture issue from a different viewpoint—on the receiving end of top management decisions. From that vantage point, our new president may be overly optimistic.