Marc Lavorgna

Marc Lavorgna News

  • Weiner Says Shake-Up Is What New York City Voters Crave

    A day after Anthony Weiner posted on his website that he would run for New York mayor, photographers and reporters clustered around him as he entered a Bronx synagogue for his first candidate forum.

  • NYC Pension Chief Seeks $500,000 Managers to Cut Out Wall Street

    New York City’s $140 billion retirement system pays Wall Street money managers about $360 million a year, the only one of the 11 biggest U.S. public- worker pensions that refuses to manage any assets internally. Larry Schloss, the city’s chief investment officer, says the practice must end.

  • NYC Cuts Shrink 2013 Budget Gap to $2B

    New York City narrowed its projected 2013 budget deficit to $2 billion from $4.6 billion through agency spending cuts and $1 billion in revenue from new taxi medallion sales, according to Mayor Michael Bloomberg.

  • NYC’s Bloomberg Backs Brown in Massachusetts Senate Race

    New York Mayor Michael Bloomberg endorsed Republican U.S. Senator Scott Brown of Massachusetts for re-election against Elizabeth Warren, a Democrat and Harvard Law School professor who helped create the federal Consumer Financial Protection Bureau.

  • New York City Plans Cut in Capital Spending After Warnings About Deficit

    New York Mayor Michael Bloomberg , faced with the prospect of budget deficits, wants a 20 percent cut in spending for construction and maintenance of city-owned buildings and infrastructure.

  • NYC Comptroller Liu Shrugs Off Legal Cloud Before Mayoral Bid

    New York City Comptroller John Liu stood in a Chinatown banquet hall last week surrounded by hundreds of guests who paid $100 each to celebrate his 46th birthday. There were platters of noodles, balloons and enough American flag-themed cake to feed the entire room.

  • SAIC to Pay $500 Million to Settle New York CityTime Fraud

    Science Applications International Corp., the contractor hired to overhaul payroll systems for New York City agencies, agreed to pay $500.4 million under a deferred-prosecution agreement to resolve claims that it conspired to defraud the city.

  • NYC’s Assumed Return Rate on Pension Funds ‘Unrealistic,’ Bloomberg Says

    New York’s 8 percent assumed rate of return on its pension investments is so unrealistic that the city may have to spend even more than the $1 billion it has in reserve for its retirement plans, Mayor Michael Bloomberg said.

  • Man Slain After Shooting Ex-Colleague Near Empire State

    A man fired from his job near the Empire State Building returned to his former workplace today and shot a co-worker, triggering a firefight with police near one of Manhattan’s most recognizable landmarks. The shooter and a 41- year-old man were dead after the violence, and as many as nine people were injured.

  • Standard Chartered, Kinnucan, Apple, SocGen in Court News

    Standard Chartered Plc, the U.K. bank whose earnings from China doubled last year, said its private-bank relationship manager Wu Yidian Eden has been detained by police in the Asian nation.

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