There is growing awareness of what appears to be a disconnection from reality at the Mayor’s Office.
Sara Kugler wrote, "The mayor, a Republican-turned-independent who already has spent more than $36 million on his re-election campaign this year, often battles criticism that he is out of touch with regular people. He built his fortune after founding the financial information company that bears his name.
Earlier this year he declared ‘we love the rich people’ while arguing against raising taxes on the wealthy, and said recently that President Barack Obama, who earns $400,000 a year and has made millions from book sales, ‘doesn't get paid that much’ and is ‘on a budget’ like millions of Americans.
Portraying Bloomberg as out of touch is a tactic often used by the Democratic frontrunner in the race, City Comptroller William Thompson Jr.
Thompson's campaign said in a statement Friday that Bloomberg ‘needs a dose of reality.’
‘Once again, Mike proves that he just doesn't get it,’ the statement said."
http://www.huffingtonpost.com/...
It's true! Compared to Mike Bloomberg these CEOs don't make much money. A conservative estimate of Bloomberg's net worth is $16.5 billion. If only $10 billion were earning 4% interest annually that would be equal to $400 million in earnings every year in perpetuity without Mr. Bloomberg doing anything. He already has more money than he could count in a thousand years. He could start a $400 million charity foundation every year to relieve social problems and never touch the principal investment. That would be far more fruitful than being Mayor of New York City for a 3rd time.
In the daily local newspaper, amNewYork Urbanite, Ellis Henican noted that independent candidate Mike Bloomberg has the air of running unopposed by the Democratic challengers:
"I’m not running against anybody," he declared.
Not anybody?
"I’m running on a record, and I’m trying to lay out the things I will do if given another opportunity."
Opponents? Ha!
Another opportunity? Mayor Bloomberg is running on a record. Being mayor of the largest city in the United States leaves a lasting imprint on the whole nation not just New Yorkers. How will Bloomberg be remembered? Drawing upon the record of his administration we have a glimpse of highlights of his achievements as Mayor of New York City.
Rachel Trachtenberg on Bloomberg
http://www.youtube.com/...
Building the new Yankees stadium
Jim Dwyer reported in New York Times last January, "Suppose you are Mr. Bloomberg, your hopes of becoming president or vice president all but vanished. You have to step down as mayor in 2009 because a law that you unequivocally supported says you only get two terms.
How handy, then, to have powerful allies, like the developer, Jerry I. Speyer and the lobbyist, Howard Rubenstein, to convince other influential people that term limits will deprive the city of an essential leader during an era of financial crisis.
Mr. Bloomberg not only abandoned his own emphatic support for term limits, but his own opposition to corporate welfare for professional sports. After canceling deals made by his predecessor, Mr. Bloomberg has gone on to subsidize the most expensive baseball stadiums in the country. "
http://www.nytimes.com/...
The Bleacher Report warns," When all is said and done, the stadium could cost nearly $2 billion to construct and about half of that will be funded by taxpayer dollars. The goings-on of the project indicate that the significant financial obligations will be relieved from the Yankees. Additionally, it seems that very little public revenue will be generated and very much of it will be used."
http://bleacherreport.com/...
Tearing down the Deutsche Bank building
August 2003 -
The insurance companies couldn't agree with Deutsche Bank on whether it should be repaired or demolished (until 2006.)
http://www.nytimes.com/...
http://www.gather.com/...
August 2007 -
The City Department of Investigation strongly cautioned Lower Manhattan development officials against using contractors with ties to a troubled demolition company to tear down the contaminated Deutsche Bank building, a person with knowledge of the events said yesterday. But development officials went ahead and approved such a company anyway.
http://www.nytimes.com/...
Zero.
That's the number of times FDNY inspectors checked safety conditions at the former Deutsche Bank building since workers began tearing it down in March, city officials admitted yesterday in a shocking report.
Read more: http://www.nydailynews.com/...
http://www.huffingtonpost.com/...
August 2009 -
Nearly three and a half years after workers began stripping hazardous materials from the former Deutsche Bank building near ground zero, officials expect the project will finally be finished next week.
But according to officials and regulators, the demolition of the 26 remaining stories of the structure, which stands as a grim reminder of the terrorist attack, will take at least seven more months, with the final price tag soaring to an estimated $300 million from $45 million in 2004.
There may be years of litigation between the insurers (AXA and Allianz), the construction manager (Bovis Lend Lease) and the Lower Manhattan Development Corporation over who will bear which costs.
http://www.nytimes.com/...
Where is the new World Trade Center?
http://www.nyc-tower.com/
The new World Trade Center will have a major impact on the future of New York City and New York State.
Here is a short survey for WTC enthusiasts.
http://mycrains.crainsnewyork.com/...
The Freedom Tower is under construction.
http://www.msnbc.msn.com/...
There have been problems along the way.
http://www.thenational.ae/...
$12 billion price tag
Silverstein has put the cost of the entire redevelopment project at up to $12 billion over 10 years. Previous estimates had put the cost at between $4 billion and $7 billion. The tower itself could cost $1.5 billion.
Silverstein expects $7 billion to come from insurance proceeds -- an amount that is the subject of a bitter lawsuit between the leaseholder and insurance companies. He has said $5 billion would come from government sources.
A cornerstone on the "Freedom Tower" was laid Sept. 11, 2004, and it was supposed to be finished by the end of 2008 or the beginning of 2009.
http://www.usatoday.com/...
http://online.wsj.com/...
http://www.planyc.org/...
http://www.city-journal.org/...
New York City has enjoyed a quality of life that remains the standard for large American cities. I think most people are optimistic about the New York City's future contrary to the indications of the current economic malaise.
The Empire State Building is a reminder of what New York City was able to accomplish during the Great Depression.
http://www.esbnyc.com/...
The present site of the Empire State Building was first developed as the John Thomson Farm in the late 18th century. The building's opening coincided with the Great Depression in the United States, and as a result much of its office space went unrented. The building's vacancy was exacerbated by its poor location on 34th Street, which placed it relatively far from public transportation, as Grand Central Terminal, the Port Authority Bus Terminal, and Penn Station are all several blocks away. Other more successful skyscrapers, such as the Chrysler Building, do not have this problem.
The Empire State Building is a 102-story Art Deco skyscraper in New York City at the intersection of Fifth Avenue and West 34th Street. Its name is derived from the nickname for the state of New York. It stood as the world's tallest building for more than forty years, from its completion in 1931 until construction of the World Trade Center's North Tower was completed in 1972. The land and building cost an estimated $40 million at the time of its completion.
The twin towers of the World Trade Center were an amazing spectacle surpassing the Empire State Building. In January 1967, the Port Authority awarded $74 million in contracts to various steel suppliers, and Karl Koch was hired to erect the steel. Tishman Realty & Construction was hired in February 1967 to oversee construction of the project.
Construction work began on the North Tower in August 1968; construction on the South Tower was underway by January 1969. The original Hudson Tubes, carrying PATH trains into Hudson Terminal, remained in service as elevated tunnels during the construction process until 1971 when a new PATH station opened.
The topping out ceremony of 1 WTC (North Tower) took place on December 23, 1970, while 2 WTC's ceremony (South Tower) occurred later on July 19, 1971. The first tenants moved into the North Tower in December 1970; the South Tower accepted tenants in January 1972. When the World Trade Center twin towers were completed, the total costs to the Port Authority had reached $900 million. The ribbon cutting ceremony was on April 4, 1973.
http://en.wikipedia.org/...
What record is Mayor Bloomberg running on?
http://www.youtube.com/...
Wikipedia – "Reality, in everyday usage, means "the state of things as they actually exist." In a sense it is what is reality. The term reality, in its widest sense, includes everything that is, whether or not it is observable or comprehensible. Reality in this sense includes being and sometimes is considered to include nothingness, where existence is often restricted to being (compare with nature)."
http://www.youtube.com/...
New York City’s wealthiest citizen doesn’t have much to worry about. He has spent more on this 3rd election campaign for New York City Mayor than the Chairman and Chief Executive of Abbot Laboratory makes in a year. Nearly double what the Chief Executive of Merck makes in a year. The CEOs have to perform. Bloomberg could receive at least $400 million this year, a conservative estimate, for doing nothing, even losing the election.