Employers are the ‘sleeping giants’ in battle to control health costs

New York employers should take on a larger role in restraining the growth of health care costs, David Sandman, president and CEO of the New York State Health Foundation, said Friday at a Crain’s health summit.”You as the business community are a sleeping giant,” Sandman said. “You have so much power and you really have not flexed your muscles yet, but you can and you should. You should because you’re paying such a big part of the bill.”Employer-sponsored health insurance premiums for New York families increased 51% to more than $21,000 in 2017, compared with costs in 2008, according to the Commonwealth Fund.”If you’re going to pay that kind of…

Councilman wants audit of costs of running a small business

The chairman of the City Council’s Committee on Small Business urged city Comptroller Scott Stringer in a letter Thursday to conduct an audit of the numerous financial burdens the city’s government and economic ecosystem impose on entrepreneurs.Bronx Councilman Mark Gjonaj highlighted statistics finding that modest, privately-owned firms account for the vast majority of jobs in the Big Apple. He says reports suggesting internet shopping and the slow expansion of chains in certain sectors have exerted pressure on such low-level operators.”Small businesses are the backbone of New…

JPMorgan bets $1 billion of its own cash for Sinclair deal

To help pull off the biggest media deal of the year, . embraced a Wall Street practice that fell out of favor after the financial crisis. The largest U.S. bank agreed to take a $1 billion equity… To view the full story, click the title link.

Murphy defends his Goldman-era support for New Jersey tax break

New Jersey Governor Phil Murphy said fellow Democrats are unfairly criticizing his support for Goldman Sachs Group Inc.’s tax break to move to Jersey City 16 years ago, when he was a senior director of the firm. The state’s $11 billion tax-incentives program is the subject of an inquiry by a panel of Murphy appointees after a January comptroller’s report found evidence that some companies may have improperly qualified for awards. At a May 2 hearing in …

The inside story of the city’s elite business district

Reversing the long decline of the world’s preeminent office address has entailed years of drama—and it’s not over yet.  Please click on the icon to enlarge for better viewing  To view the full story, click the title link.

De Blasio insists his ban on glass-and-steel buildings is real

Mayor Bill de Blasio won’t crack on his claims that he will bar future glass-clad buildings, despite clear evidence his administration&…; intends nothing of the sort. De Blasio first announced on Earth Day that he would push legislation to “ban the glass-and-steel skyscrapers that have contributed so much to global warming”—an announcement that caught both the City Council and real estate community by surprise, sources told Crain’s. The mayor and his aides quickly qualified his remarks, saying the administration is only advocating a change in the…

De Blasio backs street vendor reform despite administration’s objections

Mayor Bill de Blasio seems to have developed a taste for street meat.The Democrat lent tentative, conceptual support Friday to reforming the city’s controversial mobile vendor program, a little more than a week after members of his administration testified before the City Council against the latest iteration of a bill to overhaul permitting and enforcement.The Street Vendor Project, which has long advocated for liberalizing the system, blamed the mayor for the failure of the 2017 efforts.De Blasio told a caller on his weekly WNYC “Ask the Mayor” radio segment that he had neither…

Goldman works out best times to enter, exit earnings trades

As earnings season powers ahead, the question of when to enter and exit stock trades has been answered by Goldman Sachs Group Inc. Over the past decade, liquidity has risen before results, then… To view the full story, click the title link.

Brooklyn health startup raises $65M for tech-driven community care

Cityblock, a Brooklyn health company devoted to using technology to care for low-income patients with complex conditions, has raised $65 million in a Series B round, its founder announced on Medium. The company, founded in 2017, set up its first location in Crown Heights in partnership with EmblemHealth’s AdvantageCare Physicians. Emblem was the first insurer to agree to have Cityblock manage the health of its members. It also has expanded to Waterbury, Conn., working with EmblemHealth’s ConnectiCare, and plans to grow in North Carolina later this year through a deal with…

Wegmans shares store details in advance of fall opening

Wegmans is set to arrive in Brooklyn in the fall with a whole lot of cheese, produce and other goodies to win over a city of shoppers who might not be familiar with the brand.A feature in Bloomberg… To view the full story, click the title link.

Sidestepping Hudson Yards, Hermès opens in Meatpacking District

The usual selection of handbags, jewelry, clothing, and shoes sits inside the new Hermès store in New York. Bottles of fragrances line one area, while home décor items lie on shelves upstairs. A glass case in the corner contains a white and gray Birkin bag made from Niloticus crocodile, one of the rarest and priciest objects the label creates. Yet the shop itself is quite a departure for the 182-year-old Parisian house of luxury. The 5,330-square-foot location is far from the glitzy confines of Madison and Fifth avenues or the…

On East Side Access, Cuomo again second-guesses his own MTA

Gov. Andrew Cuomo is once again telling his Metropolitan Transportation Authority to go to L—by bringing it academic experts to review one of its biggest boondoggles.The panel of Cornell and Columbia… To view the full story, click the title link.

Cuomo accuses fellow Democrats of ‘corruption’ on Amazon

Gov. Andrew Cuomo went on perhaps his harshest and strangest tirade yet against fellow Democrats who opposed the deal to bring Amazon to Queens—even accusing the state Senate of “corruption.” The governor called an afternoon press conference in Albany Friday to address a hate crime in upstate New York—after which he took questions about the ongoing debate with the state Legislature over the budget. With little prompting, Cuomo revisited the controversy that may have precipitated Amazon’s decision to drop its plans to construct a new office campus in Long Island City. State Senator Michael Gianaris publicly attacked the project after its announcement in …

Opponents of tipped wage bash online delivery platforms

Tech has tipped the scales against low-wage employees, according to a new report by a labor-backed group.The Restaurants Opportunities Centers United dropped a study Friday alleging that online… To view the full story, click the title link.