22 Burst results for "Metropolitan Transportation Authority"
Bloomberg Radio New York
"metropolitan transportation authority" Discussed on Bloomberg Radio New York
"May be eligible to receive a payroll tax refund. The application takes around 8 minutes, 8 minutes or less to see if your small to medium sized business may be eligible for a refund of up to $26,000 per employee kept on the payroll during the pandemic. Find out at get refunds dot com. It is Friday. It is Christmas Eve eve. There are 12 people in the Bloomberg LP global headquarters here in Manhattan. One of them is drove my sick and we appreciate him coming into our Bloomberg interactive broker studio talking about municipal bonds. Joe, it's interesting. There's a lot of stuff going on out there. It was a tough year for a lot of folks, but I want to focus on the metropolitan transportation authority, the MTA. They run the buses and subways of New York. I ride the subway every day. And it's fine, people, the subway works great, it's safe. That's just from my experience. So don't believe the news. But they got to raise rates, don't they? You have to raise the fees because not a lot of people, we're not back to pre-pandemic ridership by any stretch, are we Joe? Best way to get around the city. You're absolutely right. Best way to get around. Yeah, they passed a budget this week that's looking at a big fair increase down the line here. Now, not all board members are on board, so to speak with the increase, but you know, right now we have the average subway fairs with two 75, all kinds of little discounts. You can get in there. But yeah, that's going higher. Because they were looking at a, I think they said a $3 billion budget gap by 2025 because not enough people riding subway. What are we up to about? Maybe 40%. Of course, this week, it's probably a fraction of that. Higher on the weekends, probably a little higher. I think it should be free anyway. You know, if you're really worried about congestion in New York City, which is a huge problem, if you really care about the environment. Well, who's paying for it then? I guess taxpayers pick up the large portion of the bill anyway. Don't they? I mean, you say there's a $3 billion shortfall, right? If that comes to the end of the year, we're picking up the tab no matter what. Right, because it's an essential feature of the city. We might as well get the rest. You know? There it is. Why pick it? If I go to dinner with you, Paul, I say, hey you know what? I'll pay you for 80% of the bill. Why don't I just go and pay for a 100% of it? That's real money. And I don't know where that money's coming from. But again, I read this subway the end of the yard line every day, it works great. It's safe, it's all the kind of stuff. But if you're in the MTA, you essentially get a lot of it back. You do like a wage works thing, don't you? What's that? You can do a wage works. You'll get subsidized by the state, well, for writing the subway. The state has to step in and give more money. So we're not even bigger share of it. Just pick up the whole tab. That's I'll keep going. Problem solved by Matt Miller. All right, here's a good shree Taylor's got a great article out on some of the upgrades to infrastructure around the company. I'm thinking airports train stations. Now, I unfortunately, for my entire lifetime, I've had the commute in and out of Penn station, which is an absolute disaster. It's absolutely so embarrassing. Particularly when you compare it to Grand Central, which is an absolute gem of a railroad station. I'll put that train station up against any around the world. It's a station of kings, Grand Central. So Penn station. That being said, they're putting a 1 billion 6 into this thing, renovating this thing. Are they financing the municipal bond market? Of course. Nice. Oh, you know, all those projects that sweet Taylor wrote about this week. Municipal finance played a big role in each of those. And you know, it's like America, you get new stuff. And so some of this is coming online at long last. You know, you're seeing new terminals in Newark, certainly the Laguardia maker. I haven't been out there yet. I haven't either, but everybody who comes in and says, it's unbelievably great. They did super phenomenal job. So I love it. Love it. Yeah. So, I mean, that's all built by bonds. And just yeah, this is a great article because shriek just kind of goes through each of them with some good photos and good stuff to give you a good so we're getting an upgrade basically or getting an infrastructure upgrade is what you're saying around the country. Exactly. That's because town, cities, municipalities, they're flush with cash after the stemis that they got. And I guess that's good news. The question is, what does it do to the municipal bond market? Does it mean we're going to see a drop in issuance? Does it mean there's not going to be enough out there? And you're going to have to pay more to get the munis that you want? Well, right now, yeah, I would say probably the first quarter we're probably going to see issue drop off a cliff. You know, purely because municipalities, as you say, they're still flush with cash, so they don't have to come to market. And you still do have the fed kicking interest rates higher. It's supposed to meet, I think the FOMC is supposed to meet at the end of the month. So in January, you're probably going to see a very, very low issuance month. And of course, that's good for the January effect. There you go. All right, here's the big deal I'm looking for in 2023 and municipal bond financing market. Out west, that's an affiliate of Florida fast train. It's called bright line west, has
Bloomberg Radio New York
"metropolitan transportation authority" Discussed on Bloomberg Radio New York
"You, Nathan, more than 30 years after the bombing of Pan Am flight one O three over Lockerbie Scotland that killed 270 people, including 38 New Jersey residents, a suspect is now in U.S. custody. Burt amerman brother Tom from New Jersey, says there is no closure. Yeah, two daughters at the time, 6 and four. My wife, he was 36, young, he didn't get to live his life. The suspect is expected to make a court appearance in Washington, D.C. on criminal federal charges. New York subway officials are looking to avoid a budget disaster. The metropolitan transportation authority says it could face a budget gap of nearly $3 billion by 2025. The New York Times reports they are considering raising the transit systems base fair a couple of times by 2025 to just over $3. It would be the first time they've talked about raising fares since the pandemic began. Safety upgrades are coming to railroad crossings in the Hudson valley. Senator Chuck Schumer has unveiled new plans to spend more than $100 million on those improvements. Schumer also wants to invest money in Newcastle to build a bridge. It is the largest oil spill in Keystone pipeline history more than 588,000 gallons of crude, officials say they've got to contain for now Warren Martin is executive director of Kansas strong, a nonprofit organization that educates people about the oil and gas industry. This all spills a little bit different than some of the past pipeline spills because it involves a body of water. And so it's not real certain how the EPA is going to respond to that. They have to approve starting back up. The pipeline. And so there's a remediation process that takes place to clean up all the oil to analyze the pipeline. Industry insiders believe the pipeline will be up and running again around December 20th. NASA's Orion spacecraft splashed down in the Pacific off the coast of Mexico yesterday, bringing a successful end to a 25 day test flight that sent an uncrewed vehicle around the moon and back to earth, Artemis one helps pave the way for NASA's program to return humans to the surface of the moon. Global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than 120 countries. I'm Amy Morris. This is Bloomberg, Nathan. Thank you, Amy. 6 O 9 on Wall Street time for the Bloomberg sports update brought to you by tri state Audi, here's John stash hour. Thanks Nathan, everyone new is going to be a tough Sunday for the jets and giants sure enough both teams lost. Jets were in it in but for other defense again played well, but for the second straight week the offense produced only one touchdown the bills won 20 to 12 Mike white in defeat, 27 of 44 he took a beating sat four times twice. He had to leave the game and after the game white went to the hospital with injured ribs a precautionary measure a jet bright spot was rookie running back zona and whitey gained 71 yards, scored the jets and only touched down. As for the Giants
Bloomberg Radio New York
"metropolitan transportation authority" Discussed on Bloomberg Radio New York
"Get into it. Anybody who's run a business in your writing a really big business knows that when you have a problem like this, there are a couple of ways to address it. And typically you do both. You try to raise the revenues, but also cut the costs. What about cost cutting? Where could you save some money? And let me ask you specific, what about service? Could you cut back some? D.C. has a pretty good metro system. They don't run it at night. Yeah. Well, listen, the fundamentally, we looked at during COVID, there was a period of time when we were intensely cleaning in the middle of the night. And we actually cut it back and there was an outcry. There are so many people in New York who rely on mass transit because they don't have automobiles. Remember, more than half of New Yorkers don't have access to an automobile. So a lot of folks who are especially in hospitals and otherwise who are stuck in the late shift said, no, we need 24 hour service. It's kind of in New York to DNA. But there are ways to save money in our operations. And we are attacking that. I've given our operating teams like hundreds of millions of dollars of goals in different areas. We're going to bring that to the table as part of our discussion with the legislature. You mentioned the working from home is hurting your ridership. Yes. For those of us who live in New York and watching the evening news for example, crime seems to also be deterring people. How big a factor is there really? Because every night almost on the evening news, it feels like we see something happen on the subway, which is pretty scary. Yeah, and listen, there have been some really high profile and really alarming crimes that have definitely upset people and change some folks view of transit. But I think that the bigger issue is not that crime has gone up so dramatically because overwhelmingly the subway is still a safe place in New York is still the safest big city. But what we're hearing from our riders is it's not just the actual crime. It's the sense of disorder. Non compliance with just the everyday rules and also the presence of a lot of folks and who are suffering with mental health issues in the public space. That's true on the streets in New York that sometimes true in the subway. The issue of mental health and disorder in the system as big as crime and we're trying to attack it. The mayor has been great on this issue. The governor is coming in behind him doing a ton of work on the mental health stuff. I'm optimistic. So general finally put this in a bit larger perspective because one of the real goals of so many people in New York City, particularly the business community is to get people back into the office. What role is the MTA play in helping get that done? I do believe there is value in in person work. I accept that there may be hybrid work. We're planning for that, but we just need a new economic model. You have to have mass transit and it needs to operate regularly. And we have to fund it. Thanks to New York metropolitan transportation authority chair and CEO
Bloomberg Radio New York
"metropolitan transportation authority" Discussed on Bloomberg Radio New York
"Interviewed this morning on Bloomberg surveillance. Speaking of the data, key measure of producer prices unexpectedly fell in July for the first time in more than two years, largely reflecting a drop in energy cost both the overall and core numbers were softer than forecast. Consumer price data out Wednesday also showed a welcome moderation in inflation. As for the fat on the path of those potential rate hikes, SD dweck is chief investment officer at Flo bank. We have 6 weeks till the next head meeting, it feels more like we should get 50 basis points and that will depend on the non farm payrolls and the next inflation number. And then maybe a couple more 25 basis points. But I'm not sure we're going to get those outside rate hikes anymore. And right now we do have the ten year 2.83%, the two year 3.20%, S&P is up 19, a gain of 5 tenths of 1% down industrials up one 74 of 5 tenths of 1% and Aztec up 21 up to ten. Spot gold down two tenths of 1%, balance of power with David Weston continues. This is balance of power on Bloomberg television or radio. I'm David Weston. If you live in or around New York City, you care about the MTA, the metropolitan transportation authority because they run our subways and so much of our buses and everything else. And the way we get around the city. We welcome now the man in charge of all that. He's general lieber, metropolitan transportation authority, chair, and CEO. So it's really thank you so much for being here. You could be with you. Everybody's going to care about what you have to say right now. Everybody certainly within the New York City area. Let's start with this so called congestion pricing. We have this and environmental assessment that's come out now. That would charge upward up to $23 to understand for people to come into Lower Manhattan to lower part of business protection. Where are you on that? I mean, where does that process stand and what is your position on it? Well, listen, right now, we are going through what is a federally required environmental process, as you said. And what comes out of that process is then going to be evaluated by an expert panel that we created to figure out what the tolls should be and what the exemptions and discounts should be. For example, there's a provision of the law that created congestion pricing that gives a tax credit for low income people who live in the Lower Manhattan district. So they're going to have to turn balance those things more exemptions. If we give more exemptions for whatever reason, the tolls will be higher. But the bigger issue is we need congestion pricing because justice climate change is an existential issue for all of us. And this will help us to deal with the pollution and make New York even greener. So is the fundamental existence of a city where you can get around. Right now, we are choking on congestion. We can not get police vehicles. We can't get buses around. We can't get accessorized power transit around. We can't get all that Amazon ecommerce around. So we have to do something about it. The legislature said we were going to do congestion pricing and we're moving towards it in the next year. You're in favor. Yeah, I mean, we are role is we have to be somewhat neutral as this environmental process unfolds. But the legislature has made this program part of our capital program. It's supposed to fund $15 billion out of our 5 year capital program. So we're counting on it. That's just where I was going to go. How does this fit into your business plan overall? I understand this would raise, we think a $1 billion a year. And that David, that $1 billion is meant to be bonded into $15 billion total for our capital program. So that pays for maintaining that hundred year old system. The basic structure, it will pay for buying new subway cars. It will pay for making the whole system ADA accessible. It will pay for electric buses so we have even less pollution. We need that money and we're counting on it. Yeah, things that no doubt we need a lot. At the same time, you also got an operating expense issue. I mean, quite apart from that capital issue, you've got a big shortfall here. How big is the shortfall? Well, you know, I say to people, we're in $18 billion businesses lost 40% of its customers. Now, we're way up from where we were at the beginning of COVID. At the beginning of COVID, we were down 90% on the subway's 95% on the commuter rails, and we were losing $200 million a week. Right now, way up to over 60% of pre COVID levels. But clearly, it's going to take us a while to get back. We need a new financial plan that will help to fill that gap because transit is really existential for New York. So let me ask you you're up to 60%. That sounds really good. But I'm told that a lot of other big metropolitan and subway systems are doing better, like Paris, for example. Why is New York behind? Is there anything you can do to fix that? In Europe, they are doing a little bit better. They're a little further along in getting people back to look. Look, what happened in New York is people got very accustomed to a lot of remote work. Returned to office has been much slower. But we have done return to offices only at 40%, but we're at 60% because we have so many other New Yorkers who rely on mass transit systems. So having not cutting or trying to cut our way out of this deficit is really important because transit is like Aaron water in New York. It's existential People need it to survive. But let
WTOP
"metropolitan transportation authority" Discussed on WTOP
"Payments from the General Assembly to his personal landlord using funds for district office, which was outside his district. The prosecutor also alleges that the General Assembly wound up paying on average double the amount of rent on imparis district office than any other tenant in the community. Particularly on WTO P news. New York is about to become the first city in the country to charge drivers and extra fee for going into its most congested areas. The metropolitan transportation authority will rely on a panel of 5 board members to set the tolls for drivers entering Manhattan below 60th street. So called congestion pricing has been used in cities, including London, Singapore, and Stockholm. The MTA expects to raise about a $1 billion a year, the money would be used for improvements to the MDA subway and bus systems. Still to come here, West Virginia senator Joe Manchin delivers a big legislative surprise. It's 5 12. Does our blue state red state ideological divide even extend a federal employees working from home? Seriously, this is federal news network. Senior correspondent might cause apparently so at the peak of the pandemic about half of the non postal workforce did their job from home. And those of us in major federal centers, you know, metro Washington, Virginia Beach, Baltimore, San Antonio, noticed it. President Biden did too, and he's made it a point to get as many feds as possible back in the office. He says downtown merchants miss them, and most Republican politicians agree. They've been pushing for a quick end to teleworking. They think bids can best serve customers from the office. Democrats on the hill see it the other way, surprise, surprise. They're pushing legislation to extend teleworking to more people. In the meantime, the government's having a problem keeping feds who've been ordered back to the office from jumping ship. Check out my column and all our email alerts that federal news network dot com slash alert. I'm Mike closing. And now, regional business insights from Carolyn Carpenter, president of the National Capital Region of Johns Hopkins health system, a member of the greater Washington board of trade. At Johns Hopkins
WNYC 93.9 FM
"metropolitan transportation authority" Discussed on WNYC 93.9 FM
"Wind swept rooftop press event jano lieber the CEO of New York City's metropolitan transportation authority praised the camera security system now in place in every subway station in North America's largest transit agency The story of the cameras at the MTA is pretty amazing We have gone up by like 60% in a few short years because we decided to make it a priority Nobody sent us a pile of additional money to do it We made it a priority but those pretty amazing security cameras at both the 36th street and 25th street stations failed to transmit footage back to MTA and NYPD headquarters during the recent mass shooting at a Brooklyn subway station Officials blamed a faulty Internet connection the MTA insists the camera failure rate overall is tiny and that images from other cameras that worked helped catch the suspect But the MTA's acting inspector general recently announced she's launched a probe saying the camera failures raise questions And members of Congress now want to know how federal money has been spent on security cameras how often their checked and maintained and more I want every dollar that we spend or invest to be used to protect people And if you want to make sure that if we fund it it actually functions and the money goes to keep people safe That's representative Eric swalwell a California Democrat who sits on the Homeland Security committee He was one of the signers of a recent bipartisan letter demanding answers Congress members wrote to the MTA given the disturbing and continued rise of subway attacks this year we write to urge you to be more transparent in how you use federal funding The MTA in fact got about $50 million over the last two years from the Department of Homeland securities transit security grant program Representative swalwell is calling for an increase in that grant program and greater accountability The increase if approved he says will help agencies add detection equipment cameras and surveillance training to help harden America's rail bus and ferry networks We also have to make sure that people use the systems that we fund And if they don't feel safe then they're not going to use them And I don't want this to entirely fall on local stretched police departments The New York City shooting raises questions about how federal money is actually being spent by cities and counties and the Biden administration's $1 trillion bipartisan infrastructure jobs act will see the largest infusion of money into American rail and mass transit in a generation That welcomed funding says Sean Jean's Gale needs to come with increased monitoring of spending in New York and everywhere whether it's for upgrading rail infrastructure or security Gene scale is the head of government affairs at the rail passengers association Given the exponential increase in money going towards inner studio rail specifically but also transit there will be a need for strong congressional oversight because otherwise a lot of this money could get further away With transit ridership still down absolute crime numbers on most subway and rail systems are down to But when adjusted for ridership crime in many transit systems including Chicago New York and Philadelphia remain well above pre-pandemic figures Still overall America's transit systems have proved mostly immune from larger attacks such as mass shootings and terrorist strikes but they remain vulnerable and more cameras by themselves some argue are not a cure all There has to be a person behind the camera there has to be someone watching it there needs to be somebody else able to respond in the event that there is a threat Congresswoman Abigail spanberger is a former CIA officer She says for any local security monitoring to be effective it needs to be tied into robust human intelligence and a clear plan Frequently when there's any sort of concern people automatically go towards monitoring or go towards camera systems But that requires humans that requires monitoring them requires people knowing what they're looking for That's training training training and training is expensive expensive expenses No one wants to add anything like the kind of security screenings at subways and trains that we see at airports but critics have long said that the federal transportation security administration or TSA focuses too much on airports The TSA does have roving specialized security teams with a dramatic sounding acronym viper for visible intermodal prevention and response A TSA official says viper teams conduct thousands of operations each year and transportation systems nationwide But the official declined to provide any details of viper size and work citing sensitive security information But multiple government accountability office reports have questioned TSAs and vipers effectiveness One report in 2018 found that the TSA's performance measures for viper failed to show the program's usefulness and how the teams actually contribute to the TSA's larger security mission Our question about NPR news Later today on all things considered across.
WTOP
"metropolitan transportation authority" Discussed on WTOP
"Cameras that could have captured the shooting yesterday on a New York City subway were not working and a pair of investigations from 2018 and 2019 show that officials were warned that the cameras were at risk of malfunctions More now from CBS congressional correspondent Scott McFarland When they were needed most the cameras failed There were three stations that the video wasn't working But it wasn't without warning Did a pair of inspections from 2018 and 2019 reviewed by CBS News state officials warned New York City's metropolitan transportation authority that transit station security cameras were at risk of malfunctions finding the transit agency failed to ensure preventative maintenance and timely repairs on thousands of the cameras The transit system responded it was taking aggressive steps Does it surprise you to hear that this camera in this spot may not have been working right It does not surprise me to hear It's very easy after an event that's horrifying and scary to the public for policymakers to reach for that silver bullet solution We'll put cameras and all of the subway stations But that initial expense doesn't necessarily provide or explain all of the resources that will have to go into that kind of surveillance Former FBI agent Mike Germans as cameras are a challenge for many U.S. transit systems because they require regular and sophisticated maintenance Congressional sources tell CBS News a group of dozens of U.S. House members were already getting ready to request millions of dollars later this month to pay for cameras and other types of security equipment harder infrastructure and surveillance training to help prevent attacks at U.S. rail stations We need Democrat Abigail spanberger formerly with the CIA says equipment alone won't stop a threat Maintenance is important If there's cameras where is that video uploaded Where is it stored Who is reviewing it when we're looking at security investments they do require maintenance And they do require continued.
Bloomberg Radio New York
"metropolitan transportation authority" Discussed on Bloomberg Radio New York
"Palmer in the Bloomberg newsroom New York reported a record 90,132 new COVID-19 cases today as the state passed 4 million total infections since the start of the pandemic Another 154 people died one of the highest daily figures in almost a year in hospitalizations continued to increase Governor Kathy hochul picked a Jan O lieber to head the nation's largest public transit system today in picking Libra hogel is sticking with former governor Andrew Cuomo's choice to help restore ridership by the pandemic Cuomo's sexual allegations scandal and resignation cast doubt on who would lead the metropolitan transportation authority Prior to becoming acting CEO lieber was the MTA's president of construction and development which implements its capital plan And NYPD union is accusing newly elected Manhattan DA Alvin Bragg of omitting key facts in a recent shoplifting case New York Post reports the sergeant's benevolent association sent an email to its members last night saying that one of Bragg's assistant district attorneys intentionally omitted the fact that a suspect had allegedly threatened employees with a pair of cutting shears The omission can be the difference between a felony and a misdemeanor After a record debut a Bitcoin ETF has gone from boom to bust Bloomberg's Charlie pellet explains The crypto bloodbath has transformed a famous Bitcoin ETF that launched the most successful debut ever into one of the biggest losers for an issuer in their first two months of trading According to Bloomberg intelligence data with a 30% drop the pro shares Bitcoin strategy exchange traded fund to ticker B ITO is now one of the ten worst performers when looking at returns two months after a public listing Charlie pellet Bloomberg radio Global news 24 hours a day on air and on Bloomberg quick take powered by more than 2700 journalists and analysts in more than 120 countries I'm susannah Palmer This is Bloomberg This is masters in business with very revolts on Bloomberg radio My extra special guest this week is ray dalio He is the founder of Bridgewater one of the world's largest hedge funds he is the author of numerous bestselling books including principles life and work and big debt crisis his latest is called the changing world order why nations succeed and fail ray dalio are returning champion Welcome back to Bloomberg Thank you Barry It's always a pleasure to be with you So before we get into the book I want to give listeners who may not be familiar with some of your work a little background and you first came to my attention for the work you do on mistakes as quote opportunities to learn and improve the key to success in life is learning how to fail well Tell us a little bit about that What what led you to that understanding The markets You know but it's true Pain is a great teacher you know So I learned pain plus reflection equals progress So the markets Markets teach you humility You've got to be aggressive and you've got to be defensive at the same time So what I learned is whatever successes I had in life had to do more with how I dealt with what I didn't know than what I know And so that means taking it in But making mistakes and reflecting on them hey that's a great way to learn right So it's certainly is And there's another issue that you bring up related to that which is hyper realism You have to understand how reality works then learn how to deal with it which kind of raises an issue Isn't that obvious Who gets that wrong Who doesn't deal with reality Well I think that most people have a wish of what reality is and they get upset that their reality is not that And they get hung up in that upsetness rather than to look at it and accept it And then say what does that tell me about how reality works and how I should deal with it I think most people are upset They're stuck in that upsetness And with doing something is different rather than thinking how do they best respond to what is their reality That's very zen of you except reality for what it is and interact with that as opposed to just being upset about the way the world isn't Well zen or practical So let's talk about some things that you have helped create some products treasury inflation protected bonds tips the U.S. dollar future index risk parity The stock market of China and my favorite chicken McNuggets How did you have a hand in creating all of these products Well you know you just go along with your life and you do the thing you do and then you come up with ideas So in my case I was markets since it was a kid 12 I played around I didn't know what I was doing in the beginning but I played around with markets and encountered things So I used to start off with commodities I traded commodities grains and meats and all of those things and then this McDonald's wanted to have the chicken mcnugget but they were worried that chicken prices would change a lot And so then I worked with the chicken processor who then made chickens and chickens or grain and I showed them how they could work a deal out where they would hedge the grain and so on and so forth And that's how chicken nuggets could come out without a fix and stay at a fixed price But anyway one thing leads to another Stable hedge on green prices leads to stable chicken prices and therefore a consistent nugget price Right Because the cost of a chicken has nothing to do with the price of the chick It has to.
Bloomberg Radio New York
"metropolitan transportation authority" Discussed on Bloomberg Radio New York
"I'm Chris gracio And I'm Susanna Palmer in the Bloomberg newsroom New York reported a record 90,132 new COVID-19 cases today as the state passed 4 million total infections since the start of the pandemic Another 154 people died one of the highest daily figures in almost a year in hospitalizations continued to increase Governor Kathy hoko picked a jano lieber to head the nation's largest public transit system today in picking Libra is sticking with former governor Andrew Cuomo's choice to help restore ridership hurt by the pandemic Cuomo's sexual allegation scandal and resignation cast doubt on who would lead the metropolitan transportation authority Prior to becoming acting CEO lieber was the MTA's president of construction and development which implements its capital plan And NYPD union is accusing newly elected Manhattan DA Alvin Bragg of omitting key facts in a recent shoplifting case New York Post reports the sergeant's benevolent associations and an email to its members last night saying that one of Bragg's assistant district attorneys intentionally omitted the fact that a suspect had allegedly threatened employees with a pair of cutting shears The omission can be the difference between a felony and a misdemeanor After a record debut a Bitcoin ETF has gone from boom to bust Bloomberg's Charlie pellet explains The crypto bloodbath has transformed a famous Bitcoin ETF that launched the most successful debut ever into one of the biggest losers for an issuer in their first two months of trading According to Bloomberg intelligence data with a 30% drop the pro shares Bitcoin strategy exchange traded fund to ticker B ITO is now one of the ten worst performers when looking at returns two months after a public listing Charlie pellett Bloomberg radio Globally was 24 hours a day on air and on Bloomberg quick take powered by more than 2700 journalists and analysts in more than 120 countries I'm Susanna Palmer This is.
Bloomberg Radio New York
"metropolitan transportation authority" Discussed on Bloomberg Radio New York
"Actor died Thursday at the age of 94 Poirier broke barriers as the first black person to win an Oscar for a leading role Obama awarded him the Presidential Medal of Freedom in 2009 Oprah Winfrey Whoopi Goldberg and president Joe Biden are among the figures paying tribute to him I'm Julie Ryan And I'm susannah Palmer in the Bloomberg newsroom New York reported a record 90,132 new COVID-19 cases today as the state passed 4 million total infections since the start of the pandemic Another 154 people died one of the highest daily figures in almost a year Hospitalizations continued to increase to 11,843 and New York's healthcare system remains significantly strained There is a new person at the head of the nation's largest public transit system Governor Kathy hoko picked jano lieber for that post today in picking lieber hoeke is sticking with former governor Andrew Cuomo's choice to head the MTA to help restore ridership Cuomo's sexual allegations scandal and resignation cast a doubt on who would lead the metropolitan transportation authority Lieber has been serving as acting chief executive officer and Sherman since July 31st Bitcoin extended its slide this weekend at the largest cryptocurrency by market value has lost about 42% since late September Ether the second largest digital asset also fell The unemployment rate for black Americans rose to 7.1% last month is even as the overall labor market improved and the ratio for white workers dropped closer to pre-pandemic levels Bloomberg's Charlie pellet has more The increase in black unemployment was driven by women who saw their rate jumped to 6.2% from 4.9% in November Meanwhile the ratio for white female workers declined to 3.1% the lowest since the COVID-19 crisis started Overall the jobless rate for African Americans ended 2021 at more than double that of whites which decreased to 3.2% from 3.7% in November according to the Labor Department report Global news 24 hours a day on air and on Bloomberg quick take powered by more than 2700 journalists and analysts in more than 120 countries I am Susanna Palmer This is Bloomberg.
Bloomberg Radio New York
"metropolitan transportation authority" Discussed on Bloomberg Radio New York
"People in Colorado affected by a devastating wildfire Biden made the pledge to local residents yesterday after touring the damage left by the Marshall fire in boulder county And my message to them and everyone impacted by this is that you know not only are you helping each other but we're here with you The committee investigating the January 6th insurrection plans to ask former vice president Mike Pence to appear before the panel testimony from him could offer insight into conversations with The White House in the time leading up to the 2021 attack on the capitol Chicago public school classes are being canceled again CEO Pedro Martinez has cancellations will happen Monday and until they get to some breakthrough in negotiations with the Chicago teachers union There have been no classes for three days after the two sides were not able to reach an agreement on COVID-19 safety protocols That's the latest I'm Julie Ryan And I'm Susanna Palmer in the Bloomberg newsroom Governor Kathy hoko picked jano lieber to head the nation's largest public transit system today in picking Libra hogel is sticking with former governor Andrew Cuomo's choice to help restore ridership hurt by the pandemic Cuomo's sexual allegation scandal and resignation cast doubt on who would lead the metropolitan transportation authority Lieber has been serving as acting chief executive officer and Sherman since July 31st when his predecessor pat foy left to head Empire State development Prior to becoming acting CEO lieber was the MTA's president of construction and development which implements its capital plan And NYPD union is accusing newly elected Manhattan DA Alvin Bragg of omitting key facts in a recent shoplifting case New York Post reports the sergeant's benevolent association sent an email to its members last night saying that one of Bragg's assistant district attorneys intentionally omitted the fact that a suspect had allegedly threatened employees with a pair of cutting shears The omission can be the difference between a felony and a misdemeanor After a record debut a Bitcoin ETF has gone from boom to bust Bloomberg's Charlie pellet explains The crypto bloodbath has transformed a famous Bitcoin ETF that launched the most successful debut ever into one of the biggest losers for an issuer in their first two months of trading According to Bloomberg intelligence data with a 30% drop the pro shares Bitcoin strategy exchange traded fund to ticker B ITO is now one of the ten worst performers when looking at returns two months after a public listing Charlie pellett Bloomberg radio Globally was 24 hours a day on air and on Bloomberg quick take powered by more than 2700 journalists and analysts in more than 120 countries I'm Susanna Palmer This is Bloomberg You're listening to balancing power with David Weston on Bloomberg radio As omicron sets new.
WNYC 93.9 FM
"metropolitan transportation authority" Discussed on WNYC 93.9 FM
"As well New York City officials are urging older people and those who are immunocompromised to skip optional events for the next few weeks because of the spread of the omicron COVID variant his health commissioner doctor Dave chauci My practical advice is to plan your holidays around your most vulnerable family member Whether it's someone with a weakened immune system or a child too young to be vaccinated But officials are recommending that children younger than 5 who can not get vaccinated still attend in person pre-K or day care doctor chalky says he has a child younger than 5 who will still attend in person The New Year's Eve celebration in Times Square is up in the air As COVID cases continue to surge in the city mayor de Blasio says he'll make a decision about Christmas or rather before Christmas or whether the city will host the event for vaccinated people Or certainly looking at the new challenge we're facing But again this is an all vaccination event and it is outdoors and those are two very very important favorable factors Pre-pandemic New Year's Eve in Times Square has attracted about a million visitors but last year it was a socially distance affair for only a small groups of essential workers The metropolitan transportation authority says it will retire a class of vintage subway cars after a last hurrah The MTA will run one train of R 32 cars for the next three Sundays The cars date back to the mid 1960s and were the MTA's first purchase of a large fleet of mass produced stainless steel cars They're the last class of subway cars with a front window passengers can look out of the cars appeared in numerous movies including Spider-Man homecoming and Joker they'll make their final runs on the city's F D and Q lines Your forecast now started with a high near 37 today wind chills 25 to 35 most likely tonight with a low around 32 Right now it's 25 in clear and Central Park and your time is 7 O 7 Support for NPR comes from focus features with blue Bayou from writer director Justin Chan The only place one man belongs is with his family but when all he loves is threatened he must confront his past or risk losing everything In theaters.
Bloomberg Radio New York
"metropolitan transportation authority" Discussed on Bloomberg Radio New York
"At least two more games after that He's got an injured ankle Bloomberg sports Nathan Okay John thanks 5 37 on Wall Street time for the tri state business report with Bloomberg's Ed Corey New York City's sales tax revenue is likely to decline by an estimated $111 million annually as a result of people working from home according to city comptroller Scott stringer He says the laws is minor when compared with the $7 billion in sales tax revenue the city expects in 2022 Hudson yards is paying down its tab with New York City taxpayers The Hudson yards infrastructure corporation created by the city to finance the redevelopment Is transferred about $663 million in surplus property tax and other revenue to the city since 2017 A stale made between New York and New Jersey on how to divvy up federal coronavirus relief money for public transit could force New York City subway system to borrow as much as $4 billion the metropolitan transportation authority is considering issuing a short term debt that your Bloomberg tri state business report I'm Ed Corey Thank you Ed It's 5 38 on Wall Street Bloomberg radio is on the air from San Francisco to New York London to Hong Kong Let's check in with our global news team for some of the top stories heard on our 300 affiliate radio stations around the world I'm Gina sir Betty and for W BBM in Chicago I'm reporting that deer says it's resumed talks with striking united auto workers union members and says it's committed to resolving the walkout I'm Steve posen on ten ten wins in New York We're talking about discovery cutting back on expensive high profile shows for its streaming service I'm Caroline hep kilbuck Davies this tomato in London were reporting on consumer prices accelerating in September for another month ahead of the Bank of England's November 8 decision I made gory on PAM in Cleveland 9 reporting energy harbor is getting into the hydrogen fuel business Those are some of the stories are 2700 Bloomberg journalists and analysts are.
Bloomberg Radio New York
"metropolitan transportation authority" Discussed on Bloomberg Radio New York
"The discussion surrounding Covid 19 booster shots is changing and backstab has all the global news in San Francisco. It sure is Julia to departing. FDA regulators are arguing in a review published in Lancet today that booster shots Are not needed for most of the general population. Dr. William Moss at the Johns Hopkins Bloomberg School of Medicine says second shots are doing the job that they set out to do They prevent disease. They're not going to prevent all infections. They're not going to prevent people from getting some mild illness, but by and large, they prevent severe disease. Now, Dr Moss says older age groups and immuno suppressed are different story may need a booster, but the discussion is definitely shifted New York City schools opening today, Along with the first day of vaccine cards, Mayor Bill de Blasio says that it will. It's a day that will be remembered for a long, long time. We're seeing great great response. In fact, I'm hearing a lot From restaurant tours and people who love to go to restaurants, how much safer they feel Knowing everyone's vaccinated. De Blasio says. Precautions still need to be taken. And how is New York City handling this stage of the pandemic? Well, the Metropolitan Transportation Authority says it is going to withhold death benefits from unvaccinated workers. This is a New York Times report, Philippines will impose smaller and targeted lockdowns and provide perks for the vaccinated as it tries to fashion different approaches to a potential recovery. Japan now saying that 50% of its population has Been vaccinated. China urging the U. S demand ties and as a Biden administration is weighing a probe into China's industrial subsidies in California gubernatorial recall election Tomorrow it seems, the determinant factor will be turn out. Governor Gavin Newsom, along with his main contender, Larry Elder out today, making their case This is elder. One of the first things I'm going to do is repeal the requirement for state workers that they have to be tested once a week, and they have to wear mask at work and do some saying older wants. Take the state backward and a number of different areas actually wants to double An increase more offshore elderly, more fracking as it somehow that's going to solve this challenge, so he lives in a completely different world devoid of the reality here, turn out as a key. Well when the climate change discussion is going on methane from cows, usually part of the conversation well, the cow conversation has now moved into Well, Kyle going number one Uh, New Zealand Research Project says it produces greenhouse gases 300 times more potent than carbon dioxide. So is introducing the idea of what it calls Mulu potty training cows. We Where they are rewarded for hitting the spot. And they say cows can be easily train sounds like a new ecological. No I want I want and I see everybody says it with me Movement, but some, But it's a moot point. Don't you think? Oh, why would Mhm, but I think it's one that warrants milking. Yeah. Yeah, And I think you milked it really well overdone, but it's a very interesting story. It really is a credit to you for bringing it and sharing it with Thank you. You're welcome. All right. It's 38 minutes past the hour and let's get to sports because Dan Schwartzman series.
AP News Radio
'Unprecedented' NYC Subway Breakdown Sparked by Power Surge
"A power surge sparks a break down in New York subway system New York governor Kathy Hochul says the momentary power surge disrupted more than eighty trains on the city's subway system stranding hundreds of passengers the outage lasted from nine PM Sunday to one thirty AM Monday the restoration of service was delayed because passengers on tour the star trains walked out onto the tracks themselves rather than waiting for metropolitan Transportation Authority workers to help them local says kat Edison reported losing a feeder just before the surge causing a voltage drop across the city I'm Mike Hampton
Cyber Security Headlines
NYC's 1,000-Lawyer Law Department Targeted by Cyberattack
"Cyberattack disrupts new york city law department the new york police department and fbi cyber task force are investigating intrusion into the new york city lot apartments it systems which could potentially have exposed sensitive information belonging to more than a thousand department employees on monday. The city government confirmed the incident and restricted admission into affected systems preventing government lawyers from accessing documents. Though the excess restrictions have disrupted court filings a law department spokesperson indicated that the agency was taking steps to minimize the impact cases. The incident comes just days after the metropolitan transportation authority confirmed intrusion by hackers into its databases amazon successfully presses to omit consumer protections from senate china bill on tuesday. The senate passed legislation aimed at countering china's growing economic power however after aggressive lobbying led by amazon. It excluded a measure designed to protect online shoppers from counterfeit and dangerous products. The measure known as the informed consumers act would have required online marketplaces to bolster identification procedures for third party. Merchants who sell on their sites in order to better weed out it stolen in unsafe products from rogue sellers. The bill would have been forced by the federal trade commission and violations would have been subject to civil penalties intel fixes. High severity vulnerabilities with june. Twenty twenty one platform update until his issued fixes addressing. Seventy security vulnerabilities as part of the june twenty. Twenty one patch. Tuesday according to intel's director of communications jerry. Bryant half of the vulnerabilities were discovered through. Intel's internal research security. Updates of note include five high. Severity vulnerabilities impacting. The intel virtualization technology directed o products. The bios firmware for some intel processors and the intel security library until detailed the security flaws insecurity advisories published on wednesday on its product security center
Cyber Security Headlines
The M.T.A. Is Breached by Hackers as Cyberattacks Surge
"Nyc transportation authority heck using pulse. Secure zero day back in april chinese beck threat. Actors breached. the network of new york city's metropolitan transportation authority by exploiting a pulse. Secure zero day vulnerability. According to mta's chief technology officer rafael portnoy while the attacker successfully hacked into mta computer systems. They were not able to gain access to employees or customer information which portnoy attributed to. Mta's layered security controls. Mta mitigated the vulnerability on april twenty first one day. After poll secure issued an advisory cybercriminals contest defined new crypto currency exploits april twentieth prevalent russian-speaking underground forum initiated a contest calling for its community to submit new methods of attacking crypto currency and offering a one hundred fifteen thousand dollar prize to the winner according to intel four seventy one's senior vice president of global intelligence. Michael d bolt some of the top ideas so far are generating a fake blockchain front end website to steal info such as private keys and balances creating a new crypto currency blockchain from scratch increasing the hash rate speed of mining firms and botnets and building custom tools to parse cryptocurrency logs from victim machines the contest which is expected to run through september first is a reminder that criminals continue to collaborate and explore cutting edge techniques to help further their motives. Fbi confirms revival as jbs ransomware attacker. The fbi confirmed on that russian cybercriminals group revival is responsible for the ongoing ransomware attack targeting gb s. The world's largest meatpacking company the fbi issued a statement indicating they are quote working diligently to bring the threat actors to justice and quote. Rievaulx is notorious for pushing. The boundaries of the ransomware is a service industry and targeting high-profile victims including former president donald trump and lady gaga with attempted extortion schemes.
WIBC 93.1FM
"metropolitan transportation authority" Discussed on WIBC 93.1FM
"Morning. I'll have additional information about Hope Academy on our website reporting Amelia Hodges, for which TV which TV dot com and follow some Facebook. All right, thanks so much. Julia. How many Now The Northeast is bracing for a winter storm that could dump more than a foot of snow and many areas more than 110 million Americans were put under a winter weather alert from the southern Great Lakes to New England. The storm system has already traveled through the Midwest, leaving a few inches right here in Indiana. Before the storm even arrives. Snowy conditions are already making roads, dangerous. Thies air photos of the lakeside fire truck in Virginia and actually overturned while responding to a call you see on your screen. All four firefighters inside were thankfully able to get out before crews even arrived, and the National Weather Service says heavy snow is forecasted fault 2 to 4 inches per hour today in New York. New Jersey and Connecticut. And this is the latest snow forecast map from the service. You can see some of the areas that are in dark red here, a lot of the areas they expect more than 18 inches of snow. New York Mayor Bill de Blasio is urging people to avoid travel. If you do not need to be out and about on Monday, stay home. If you please make to the maxim extend you humanly can make alternative plans for Monday right now. The Metropolitan Transportation Authority says it's preparing for the weather to Blasio's says in person school will be fully remote today and covert 19 vaccination appointments will be rescheduled. Students at Purdue had some fun with the snow that we saw this weekend, a maintenance technician on campus posted photos that were showing which TV viewers right now from Facebook. This is outside the school of Engineering building. Jeremy.
Bloomberg Radio New York
"metropolitan transportation authority" Discussed on Bloomberg Radio New York
"White House. This is a special report on camera and Fairchild and I'm Susanna Palmer in the Bloomberg News Room. Three new vaccine hubs open today in the Bronx, Brooklyn and Queens. The new hubs will have the capability to vaccinate thousands of people each day. York one reports. The new hubs are located at the South Bronx Educational Campus, the Bushwick Educational Campus in Brooklyn and the Hillcrest High School in Jamaica, Queens. Each hub hopes to vaccinate between five and 7000 people a day operating from 9 A.m. to 7 P.m. every day of the week. Leaders of New York's Metropolitan Transportation Authority are expected to decide this month whether to raise fares on New York City's subway and bus systems and regional commuter rails. Get more on that from Bloomberg's tiny's Pellegrini. The possible fare increase of the operator. The nation's largest transportation system comes Justus. The pandemic takes a financial toll on many riders. I am to instituted the schedule a decade ago of raising fair and toll revenues by about 4% every two years to keep pace with inflation. The authorities board members are slated to vote on increases two fares on January 21st and then untold next month he increases could take effect in the spring. But some party members would like to delay them because so many people are out of work. Marriott International will suspended donations to Republican senators who voted against certifying President elect Joe Budden after considering Destructive events at the Capitol Last week political newsletter Popular information surveyed 144 corporate donors about their future donation plans to the eight GOP senators who objected to election certification. Or than 190. Members of Congress are sponsoring an impeachment resolution against President Trump, New York representative and Democrat Alexandria Ocasio Cortez echoed their thoughts. It is an act of insurrection. It's an act of hostility, and we must have accountability because without it, it will happen again. She was interviewed on ABC s this week. Global news 24 hours a day on air and on Bloomberg Quick take powered by more than 2700, journalists and analysts in more than 120 countries. I'm Susanna Palmer. This is Bloomberg..
Bloomberg Radio New York
"metropolitan transportation authority" Discussed on Bloomberg Radio New York
"A third straight day to about 131,000. That's The latest time, Lisa Taylor And I'm Susanna Palmer In the Bloomberg News Room. Three new vaccine hubs opened today in the Bronx, Brooklyn and Queens. The new hubs will have the capability to vaccinate thousands of people each day. York one reports. The new hubs are located at the South Bronx Educational Campus, the Bushwick Educational Campus in Brooklyn and the Hillcrest High School in Jamaica, Queens. Each hub hopes to vaccinate between five and 7000 people a day operating from 9 A.m. to 7 P.m. every day of the week. Leaders of New York's Metropolitan Transportation Authority are expected to decide this month whether to raise fares on New York City's subway and bus systems and regional commuter rails. Get more on that from Bloomberg Stoney's Pellegrini. The possible fare increase of the operator, the nation's largest transportation system comes Justus. The pandemic takes a financial toll on many riders. I am to instituted the schedule a decade ago of raising fair and toll revenues by about 4% every two years to keep pace with inflation. The authorities board members are slated to vote on increases two fares on January 21st and then untold next month. The increases could take effect in the spring. But some part members would like to delay them because so many people are out of work. Marriott International will suspend the donations to Republican senators who voted against certifying President elect Joe Budden after considering Destructive events at the Capitol last week political newsletter Popular information surveyed 144 corporate donors about their future donation plans to the eight GOP senators who objected to election certification. More than 190 members of Congress are sponsoring an impeachment resolution against President Trump. New York representative and Democrat Alexandria, Ocasio Cortez echo their thoughts. It is an act of insurrection. It's an act of hostility, and we must have accountability because without it, it will happen again. She was interviewed on ABC s this week. Global News 24 hours a day on air and on Bloomberg. Quick take powered by more than 2700 journalists and analysts in more than 120 countries. I'm Susanna Palmer. This is Bloomberg. I'm very results. You're listening to master's in business on Bloomberg Radio. My extra special guest this week is Sebastian Page. He's the head of global multi assets of T. Rowe Price. Which manages about $1.3 trillion in assets. He is the author of Beyond Diversification. What Every Investor Needs to Know about Asset Allocation. Let's talk a little bit about some of the research and writing. You do not only have you written two books, but you co authored a number of award winning papers for The Journal of Portfolio management and for the financial analysts journal. Tell us a bit about how and why you write, you spend an awful lot of time. Putting out well regarded research. What's the motivation? My motivation in particular for the book? Was to build a bridge between investment research, academic research. And the practice of investment. With a focus on asset allocation decisions, so I reviewed over 200 papers. Integrated some insights from my colleagues at T. Rowe Price. As well as from my own 20 years in the business. And one thing I wanted to do bury with this book. Was make it accessible without sacrificing the rigor. And after I had in mind when I started writing is Malcolm Gladwell, you know how he takes deep research and makes it interesting and accessible. I wanted to write something like that for asset allocation. And you know, you could say finances in my DNA to have absolute passion for it and Working on this book. I wouldn't call it work at all. So let's talk a little bit about some of the problems of forecasting especially things like that tails. Black Swan's and other financial disasters. How does the finance industry think about fat tails? Do we pay enough attention to these 100 year floods that seemed to come along? Despite their name, every 10 years or so, yeah, Those are interesting statistics vary and actually have a chapter where I talk about those probabilities. And how they compare in real life versus mathematical models that rely on the normal distribution. Look, The issue of fat tails is actually really well known issue, but I would argue we don't pay enough attention to it. I would say many Quantitative analysts, especially when they back best strategies like risk factor Premium, for example, don't really account properly for fat tails. Someone once told me that the only people capable Of generating a sharp ratio of 3.0, so three point returned to risk ratio. Were either Bernie made off or quantitative analysts running back desk. And in the book. I have a great example for this. It's from Andrew Lo. He's a professor that might keep on. There's a fascinating case study on the issue of fat tails in a paper he wrote in the early 2000, his studies based on monthly data. From generally 92 to December 99. He simulates an investment strategy that requires no investment skill whatsoever. Okay. No analysis. Milt Foresight, no judgment. The tragic so simple a monkey could do it. But despite this simplicity in Angelo's fact, best strategy doubles the Sharpe ratio of the S and P 500 from 5000.9821 Point 94, so double the risk adjusted return. It only has six negative months compared to 36. For the S and P 500. And here. I'm going to quote Angelo because he sets it up nicely. He writes. By all accounts, this is an enormously successful hedge fund with a track record that would be the envy of most asset managers. Then he reveals what the strategy is, and this is where we illustrate that tail risk. Can you guess? Very with the strategy is well, I was going to say, like a leveraged s and P fun, But the lack of monthly drawdowns kind of move me away from that. What's the strategy? In this simulation. All the dogs is just sell out of the money. Put options on the essence. Be 500. So essentially. He sells insurance. The strategy is just to load up on terrorists, and it just so happened that in the nineties You didn't really get called on those short put options, but what it is, is picking up pennies in front of this team roller and when you look at many risk premium Or how our industry thinks about liquidity risk, for example, or carry strategies or even how weak Construct allocations to credit in our portfolios. Ah, lot of those strategies returns trains if you will. Are short an option. And that is embedded tail risk that our industry on to pay more attention to and find better ways to model quite interesting coming up. We continue our conversation with Sebastian Page. Head of global multi.
Papa and Lund
Amazon Web Services Hit by Outage
"Massive Cloud Computing service has been having issues today with an outage caused by its kinesis data processing service. Amazon says they have identified the root cause and are working to resolve the issue among the services that have been impacted Amazons Ring Roque Ooh software maker. Auto Desk targets Ship delivery service. And even New York City's Metropolitan Transportation Authority. Now major Amazon Web services. Customers, Customers, including including Apple, Apple, Slack Slack and and Netflix, Netflix, do do not not appear appear to to be be effective. effective. A A
Bloomberg Businessweek
FEMA Yanks Funding For Disinfecting New York Subways
"New York's Metropolitan Transportation Authority chairman Patrick Boys, slamming FEMA for pulling $12 billion in emergency funding to the agency Paul the Castro reports, Senator Chuck Schumer said Thursday that FEMA is changing the rules for funding that will result in the Mt. Losing critical dollars used to sanitize subways and buses. In a statement, boys said the decision coupled with the government's inexplicable failure to provide $12 billion and desperately needed funding Makes it clear in his eyes that Washington is telling mth customers to drop dead. New York City had already received 1.3 billion an emergency funding