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Crain’s Extra: Tech comes after real estate brokers (again)

Tech comes after real estate brokers (again) The most-read Crain’s article this past week by far was C. J. Hughes’ story about estranged celebrity couple Andrew Shue and Amy Robach selling their West Village co-op for $5.1 million, a deal that suggests broker Dominique Ramirez of Brown Harris Stevens got a big slice of the $250,000 […]

Aetna proposes Medicare Advantage plan for New York’s municipal retirees

According to the proposal, which Aetna confirmed it presented to the MLC Thursday, the insurer would provide fully insured Medicare Advantage plans to retirees. The initial term would be for five years and four months, beginning Sept. 1 and ending Dec. 31, 2028. Coverage would begin Sept. 1 for retirees who are enrolled in a […]

$76M Air Force contract boosts Persistent Systems mobile network firm

Military bases can be enormous, occupying tens of thousands of square miles. Persistent’s network solves the problem of communication across that kind of expanse. “Historically they’d be on a walkie-talkie and describe what’s happening,” said Adrien Robenhymer, the company’s vice president of business development. “Now they turn on a camera and an expert can look […]

Twitter to scale back New York office space as Musk cuts costs

Elon Musk has been slashing costs since taking over Twitter last year. The company has slashed jobs and been accused of missing rent payments on offices in San Francisco and London. Subleasing the New York space could help Twitter reduce costs, given most property contracts require tenants to pay rent for the life of a lease even if the […]

NYC Ferry to launch express pilot in South Brooklyn

Morning express ferries will launch from Bay Ridge with a stop along Brooklyn Bridge Park at Atlantic Avenue before pressing on to Lower Manhattan’s Pier 11, NYC Ferry said. Other South Brooklyn ferries during the same time will make stops from Bay Ridge to Wall Street, it said, along with a seasonal stop at Governors […]

Full LIRR service to Grand Central Madison launches Feb. 27

The service changes have complicated some commuters’ routines. Certain travelers’ go-to morning or evening trains might have been eliminated, or they could have to contend with more transfers due to reduced connections at Jamaica. Several direct trains between Long Island and Atlantic Terminal in Brooklyn have been eliminated. “These new schedules are horrible,” said Charlton […]

Shake Shack starts fine dining menu at West Village location

The table will also be set with china, white tablecloths and more, according to a news release from Shake Shack. “We can’t wait to test this new fine dining experience with our guests to honor one of the most exquisite and luxurious ingredients in our pantry, the white truffle,” John Karangis, executive chef and vice […]

Citigroup CEO Jane Fraser gets $24.5M in pay for 2022

Fraser’s compensation last year marks a 8.9% increase from the $22.5 million she received in 2021, when she started off the year as president before assuming the CEO role in March. The move comes after rivals Bank of America Corp. and Goldman Sachs Group Inc. cut CEO pay, while JPMorgan Chase & Co. and Wells […]

Crain’s Extra: Crain’s baseball business

The week ahead  Feb. 21 Coinbase Global reports earnings. CEO Brian Armstrong last week tweeted that his firm’s staking services aren’t securities and he’s ready to fight in court. It’s the sort of thing you do when regulators are crawling all over your business. Feb. 22 Etsy reports earnings. Its stock price is half of […]

Toll hikes must be the Thruway Authority’s last option, comptroller says

In December the Thruway Authority voted to move forward with the process to increase tolls, which will include public hearings, in the next year. The bulk of the authority’s revenue comes from tolls, not federal, state or local government support. But before the authority turns to drivers during an economically tumultuous time, DiNapoli wants to see […]

Op-ed: New York needs infrastructure funding

Vital projects that will redefine our city and state for generations to come are ready to roll and just waiting to receive the funding needed to spring into action. Recently, the president stood in Manhattan to initiate just that. The Gateway program is the most important infrastructure project in the nation. Period. Once completed, Gateway […]

Here’s how every borough president plans to tackle the city’s housing crisis

Although borough presidents do not vote on housing projects, their support can be a critical component of community support that expedites the approval of new developments.  Levine discussed a study his office commissioned that found 171 potential sites for housing construction that could build 73,000 units of housing, 40% of which could be affordable housing. Around […]

Delivery fee cap amendment gathers enough support to pass

The City Council is scheduling a time for the bill’s hearing, said member Marjorie Velazquez, who signed on as an early sponsor after learning from small restaurants that they wanted the chance to pay more for marketing. “At the end of the day we are all fighting for the small businesses,” Velazquez said. Mom-and-pops and […]

Crain’s Extra: Not even sports betting can overcome the curse of the SPACs

Not even sports betting can overcome the curse of the SPACs The Super Bowl kicks off soon. Time to bet on how long the national anthem will take, who will join Rihanna at halftime, and whether there will be more cheerleader camera shots than touchdowns. Helpfully, DraftKings and the other platforms bought a ton of […]

Comedians double as babysitters in lucrative childcare market

‘Business of fun’ returns Comedians and other performers are returning to the city at the right time. Business travel and tourism is expected to continue its upward trend increase in 2023, boosting a hospitality industry that virtually shut down during the pandemic. They are also helping to fill a worker shortage that has caused sitter […]