Business & Economy

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Business & Economy
8:46 am
Wed October 8, 2014

Wall Street profits down, but New York reaps benefits from bank settlements

New York State has received a multi-billion dollar windfall from bank settlements this year, but a new report from the State Comptroller shows the settlement took a bite out of Wall Street profits in 2014, which could have repercussions for the state budget in the future.

State Comptroller Tom DiNapoli reports Wall Street profits are down by 13% so far in 2014, compared to the previous year, 2013, when profits had already shrunk by 30%.

“Certainly we’re seeing profits, but down from what we saw last year,” DiNapoli said.

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Business & Economy
3:04 pm
Fri August 8, 2014

Governor and legislature increasingly rely on publicly funded private attorneys

Governor Cuomo’s administration and the legislature are spending around $1.3 million dollars this year in payments to private law firms, and the public is paying for it, says a fiscally conservative study center.

The Empire Center analyzed reports filed on line by the legislature, and found that the state Assembly paid over $650,000 to outside attorneys, while the State Senate gave a private law firm over $400,000 between October of 2013 and March of 2014.

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Business & Economy
3:16 pm
Tue August 5, 2014

Cuomo keeping options open on use of surplus windfall

For the first time in several years, New York has a surplus of three to four billion dollars. Governor Cuomo says he’s still looking at options on how best to use it.

The state has recently been the beneficiary of a windfall from major lawsuit settlements with several banks and  insurance companies. After years of running a debt or breaking even, New York now has over four billion additional dollars, say Governor Cuomo. Cuomo says he’s still thinking about the best use for the money.

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Business & Economy
10:16 am
Thu July 24, 2014

What to do with 'zombie properties?'

One of the biggest challenges for small upstate cities like Schenectady or Troy can be the abundance of "zombie properties" or residences that have long since been abandoned.  Four of these municipalities in the greater Capital Region are hoping the Center for Technology in Government can help them fight this urban blight and make their communities come alive again. 

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Business & Economy
3:58 pm
Tue July 15, 2014

Cuomo says private market will decide future of NY's casino industry

Governor Cuomo says he’s not concerned about reports that the casino gambling industry may not be all that healthy. The negative news comes as the state is considering authorizing four new gambling centers in the next few months.

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