Crains New York - June 25, 2012 - (Page 6)

THE INSIDER by Andrew J. Hawkins and Shane Dixon Kavanaugh I Gillibrand foes rewrite history n a late June TV appearance, the three Republicans competing to run against Sen. Kirsten Gillibrand (right) curiously dismissed the notion that the bailout of the financial industry was crucial in arresting an economic meltdown four years ago. Nassau County Comptroller George Maragos said, “I’m not sure anybody is too big to fail. … Our system is strong enough to be able to withstand that.” Wendy Long, a Manhattan lawyer, nodded as Rep. Bob Turner, R-Queens, added, “We’ve seen Bear Stearns and Lehman Brothers fail. Big companies.” But the government orchestrated Bear Stearns’ takeover by JPMorgan Chase. Later in 2008, when the decision not to save Lehman triggered a worldwide financial panic, the government scrambled to rescue insurance giant AIG and to recapitalize banks saddled with toxic assets. The moves stabilized markets, setting the stage for their recovery in 2009. ALBANY ENDGAME: WINNERS & LOSERS THE STATE LEGISLATURE wrapped up its 2012 session with a flurry of dealmaking and arm-twisting. WINNERS... Teachers. The last-minute deal that will allow parents to view teacher evaluations is a victory for the state’s teachers’ union, which persuaded Gov. Andrew Cuomo and legislators to limit the media’s access to the data. Danny Hakim. The New York Times’ Albany bureau chief’s Mike Long exposés about abuses in state-run homes for disabled adults prompted the governor to create a new enforcement agency. Insiders dubbed the legislation “the Danny Hakim bill.” Mike Long. The death of Mr. Cuomo’s marijuana decriminalization bill at the hands of the Senate Republicans showed that the state’s tenacious Conservative Party chairman still has teeth. Eric Schneiderman. The attorney general leveraged his ties with the Legislature to pass a bill cracking down on prescription-drug abuse. Megabus booted bus companies for curbside pickups near PA terminals, according to a deal between state and city officials. The issue moved to the forefront when the authority opposed a permit issued by the Department of Transportation allowing Megabus to pick up riders on West 41st Street. DOT ordered the company to vacate the spot by July 31. newscom The city must now consult the Port Authority before granting permits to LOSERS... Michael Bloomberg. No full disclosure of teacher evaluation data, no marijuana decriminalization, no reduction in condo/co-op tax breaks. Three strikes and the mayor was out. The New York Post. The tabloid wanted full disclosure of Sheldon Silver teacher evaluation data. Plus, Mr. Cuomo knocked the Post’s editorial page for an “ultraconservative” point of view. Sheldon Silver. In January, the Assembly speaker said increasing the state’s minimum wage to $8.50 from $7.25 was his top priority. Six months later, he has nothing to show for it. A December deal, perhaps including legislative raises, remains possible. Labor unions. Still smarting from a hit to public pension benefits in March, labor unions failed to win passage of their priority wage bills. SBS is MIA Small Business Services Commissioner Robert Walsh was oddly absent from last week’s announcement by Deputy Mayor Robert Steel of a push to expand business improvement districts. Mr. Walsh’s agency oversees BIDs, but the mayor’s announcement made no mention of him. A spokeswoman said he had a scheduling conflict. For daily political and government news, subscribe to CRAIN’S INSIDER @ ww.crainsnewyork.com/insider Thank You New York Metropolitan Area. We couldn't have done it without you! 6 | Crain’s New York Business | June 25, 2012 http://www.crainsnewyork.com/insider http://www.imperialbag.com http://www.imperialbag.com

Table of Contents for the Digital Edition of Crains New York - June 25, 2012

Crains New York - June 25, 2012
Contents
In the Boroughs
In the Markets
The Insider
Business People
Alair Townsend
Greg David
Real Estate Deals
Crain’s Fast 50
For the Record
Classifieds
New York, New York
Source Lunch
Out and About

Crains New York - June 25, 2012