LIU STATEMENT ON PROTESTS AT WELLS FARGO ANNUAL SHAREHOLDER MEETING

 

 New York City Comptroller John C. Liu issued the following statement in response to protests at Wells Fargo’s annual shareholder meeting:

  “We understand the sentiments voiced by the protestors.  As a long-term shareowner, the NYC Pension Funds have asked in vain for the firm to root out and correct systemic flaws in its mortgage and foreclosure practices,” Comptroller Liu said.  “Today we repeated that request for the second year in a row.  Until Wells Fargo and other large banks conduct independent audits of their housing-related policies, investors will lack assurances that they and the larger public are safeguarded against further economic damage. Today’s protests should remind these banks that if they fail to improve future practices, their reputations and financial performance will suffer accordingly.”

BACKGROUND:

New York City Comptroller John C. Liu serves as the investment advisor  to, custodian and trustee of the New York City Pension Funds. The New York City Pension Funds are composed of the New York City Employees’ Retirement System, Teachers’ Retirement System, New York City Police Pension Fund, New York City Fire Department Pension Fund and the Board of Education Retirement System. The New York City Pension Funds hold 13,067,127 shares of Wells Fargo, valued at $427,164,381.63 as of
4/23/2012.

*****************************************************

 

Mark Gjonaj Announces Candidacy For 80th A.D.

  Sunday afternoon in the pouring rain hundreds of loyal supporters gathered at 2134 Barnes Avenue (corner Lydig Ave.) to hear Mr. Mark Gjonaj announce that he would be running for the 80th Assembly District seat. While most first time candidates say that they are not politicians, Mr. Gjonaj was quick to say that he is a politician, and that he will be the next representative in Albany from the 80th A.D. 

  Candidate Gjonaj said that he has come from humble beginnings, his immigrant grandparents (together for 70 years) were with him at the announcement, as were several other family members. His wife Roberta said that she supports her husband in his quest to become the assemblyman from the 80th  A.D. Candidate Gjonaj said that he will be the voice of the people in Albany, raising the quality of life in the district, that the Bronx has the highest unemployment rate in the state at 14.1%, and that government regulations are choking small businesses that provide the needed jobs to cut the unemployment rate. Candidate Gjonaj said that all children should have an equal education, and that he wants to keep schools open more hours for after school programs, child care, and adult education. He added that we are in debt to the elderly, and where it is now policy to cut elderly programs and threaten to close centers that he will fight to keep said programs and centers open. “I'm only as good as the people around me, and here I have the best”, and Gjonaj ending by saying “God bless you all”. The campaign slogan of Mark Gjonaj for the 80th A.D. is “YOUR CHOICE FOR PROGRESS 2012”, and the campaign headquarters for Mr. Mark Gjonaj is located at 2134 Barnes Avenue at the corner of Lydig Avenue, with 718-791-0512 as the phone number.  

Gjonaj HQ is located at the corners of Barnes and Lydig Avenues

In the pouring rain there was still a large crowd

Mark Gjonaj speaking to the crowd of supporters.

You can see the pouring rain in this photo.

Here past 80th A.D. candidate Joe Thompson poses with good friend and 80th A.D. candidate Mark Gjonaj.

***********************************************************

Bronx Democratic County Committee To Support Luis Sepulveda For New York State Assembly

April 23, 2012  

The Bronx Democratic County Committee

Announces its Support for Attorney Luis Sepulveda in his bid for the New York State Assembly

The Bronx Democratic County Committee will support Luis Sepulveda for the 87^th Assembly District. Sepulveda, a professor and attorney in the Bronx, has shown his commitment to Bronx residents through his outreach and pro bono efforts for the residents of Parkchester.  An experienced educator, Sepulveda is a professor at Mercy College, teaching law-related courses including Business Law and Constitutional Law.  He looks forward to being a strong advocate in Albany for enhanced public safety, education and access to better services for the residents of the 87^th District.

“Luis Sepulveda has demonstrated his commitment to the Bronx and the residents he intends to serve through his advocacy and persistent presence on issues that matter.  The Bronx Democratic Party welcomes him with open arms and we look forward to working strenuously to elect him” said Bronx Democratic Chairman Carl E. Heastie.

"I am humbled and honored to receive the endorsement of the Bronx Democratic County Committee," said Luis Sepulveda.  "The Democratic Party of the Bronx is the driving force behind progressive change in this City and State.  It is making a difference in the lives of the residents of the Bronx and the State; a movement of which I would be proud to be a part.”

"Luis Sepulveda has proven that he is a fighter for the people of the Bronx, and I am proud to support him in his quest to represent the 87th Assembly District. Luis has long been a friend and ally to me, and I know from my own experience that he will make us proud in Albany, just as he has through his years of service and advocacy for the people of the Bronx. I look forward to working to see him elected to the New York State Assembly, and to working with him on the many important issues that face our borough once he is elected," said Bronx Borough President Ruben Diaz Jr.

"I have been impressed by Luis' tenacity and dedication in fighting for the needs of our community," said Council Member Annabel Palma. "I have no doubts that, given the opportunity, Luis will carry on this fight in Albany." 

The Democratic primary election will be held in September.

****************************************************

C.E.P.B.A.’s Community Forum

C.E.P.B.A.’s community forum

Mobilizing and Restructuring Community Resources to Better Educate our Youth

\“But even in the toughest of neighborhoods and circumstances, children excel when the right adults are doing the right things for them.”  . . . from the award winning book on American education, Waiting for Superman, Karl Weber, Editor
This forum will lay the foundation for a series of think-tank and strategic planning sessions focused on building capacity within the community to more effectively educate our youth for the social and economic environments they face in this 21st Century.
Forum Topics will include the following:

• Essential elements of 21st century education for our youth.
• Defining educational arenas for community-based leadership and responsibility.
• Parent Training, Child Guidance Networks, and Peer Group Mobilization
• Health, safety, spiritual supports at the community level.
• Untapped and under-engaged community resources.
• Promoting innovative educational strategies.

R.S.V.P. recommended. For further information contact:

Johnnie Goff (917) 797-1771, Audrey Eadie (718) 231-7100/7101, or cepba@aol.com

Delete text and place photo her

An action-oriented forum for concerned youth caretakers & community activists sponsored by the

Community, Education, Political & Business Alliance of the Northeast Bronx, Council District 12

Tuesday, May 8, 2012

6:00 – 8:00 P.M.

North Bronx Nat’l Council of Negro Women Child Development Center
4035 White Plains Road
Bronx, NY 10466
(between 227th & 228th Streets)


********************************************************

Manhattan College Latino Alumni Club

  Established in 2000 the Manhattan College Latino Alumni Club hosted a panel discussion with three Latino New York State Senators. State Senator Jose M. Serrano (Manhattan College class of 1995), Senator Gustavo Rivera, and Senator (and 13th Congressional District candidate) Adriano Espaillat were on the panel hosted by Mr. Joaquin Pradas (Class of 1971) and Community Board 8 Vice-chair Ms. Maria Kurry (class of 1977).

  MCLAC as it is called serves the Manhattan College community through active participation in Educational, Professional, and Social activities. It has been estimated that between 15 - 20 % of the Manhattan College student body is of Hispanic origin. 

State Senator Gustavo Rivera answers question from Co-Chair Kurry

Manhattan College President Brennan O'Donnell is on the left with members of MCLAC and the three state senators 

************************************************************

Statements on Living NYC Wage Bill

 

STATEMENT FROM BOROUGH PRESIDENT DIAZ
 

  “I am pleased that our long fight for economic justice in this City has cleared another hurdle, and I offer my sincere gratitude to Speaker Christine Quinn for introducing the ‘Fair Wages for New Yorkers’ Act at the City Council today. As I have said in the past, when developers voluntarily use taxpayer subsidies to make their projects work, they must do better by their employees.

  “I once again thank my partners in the Living Wage Coalition, the bill’s chief sponsors in Annabel Palma and G. Oliver Koppell, all of our City Council sponsors and the majority of New Yorkers who support a ‘living wage’ for their support in our fight to make development work for all New Yorkers. I look forward to the legislation becoming law,” said Bronx Borough President Ruben Diaz Jr.

 

 

 Stuart Appelbaum, president of the Retail, Wholesale and Department Store Union (RWDSU,UFCW),

  We built a citywide movement for living wage jobs, and this landmark legislation is the result of that movement. This is a major victory for working people, advocates, civil rights leaders, faith leaders and countless others who fought tirelessly for this bill. But it is only one step along a long road.  Working people in New York City and in this country are struggling to survive. We will continue our fight to ensure that all working people are treated with dignity, justice and respect.  We thank Speaker Quinn and the City Council for this important milestone in the fight for economic justice and economic fairness.

 Living Wage NYC Coalition statement:

“After a long hard struggle, the Living Wage NYC Coalition is pleased to support the Living Wage Bill as introduced today by Speaker Quinn & the NYC Council.

For the first time in New York City, businesses that directly benefit from millions in city subsidies will have to pay their workers $10 an hour and a policy will be put in place requiring the Economic Development Corporation to strive for a 75% Living Wage goal for all jobs on projects receiving subsidies. In addition, new wage reporting will disclose the percentage of living wage jobs on all subsidized projects.

The people of New York City know income inequality and responsible development must be addressed and this bill is a major first step.  It’s no longer business as usual in NYC.  We’re confident that our billionaire Mayor’s expected veto to deny low wage workers $10 an hour will be overridden by the City Council. We look forward to continuing this work until everyone in New York City earns a living wage.”


Statement from Paul Sonn, Legal Co-Director of the National Employment Law Project:

"The new living wage bill is a major step forward for economic development in New York.  With it, New York will join Los Angeles as a national leader in ensuring that taxpayer-funded projects deliver quality jobs for local residents.”


Statement from James Parrott, Chief Economist and Deputy Director at the Fiscal Policy Institute:

“Poverty is on the rise in many communities in our city, and the living wage bill is a significant response to the growing plight of the working poor. It will help raise wages in some of the lowest-wage sectors of our economy that benefit from taxpayer subsidies, and lay an important foundation for future efforts to reduce income inequality.” 

************************************************************

 

FIX THE FLEET OF FLOATING LEMONS OR LET’S RECOUP OUR MONEY

 $142 million and counting… New Staten Island ferry boats unreliable and budget-busting

 

 

  City Comptroller John C. Liu today joined with State Senator Diane Savino, State Assemblyman Matthew Titone, City Council Member Debi Rose and the Staten Island Ferry Riders Committee to call for better management and oversight by the NYC Department of Transportation (DOT) over the repair and maintenance of the new Staten Island Ferry boats.  The “Molinari Class” vessels were put into service in 2005 and 2006 but have been chronically out of service and generated significant cost overruns.
   The $139 million “Molinari Class” ferry boats have had a long history of problems. In fact, one of the three ferries is currently dry docked in Norfolk, Virginia and has been out of service since December. After months of unsuccessful repair work to the boat, the DOT recently demanded $9.5 million in “emergency contract” funding to attempt to fix persistent problems with the fleet.

   Liu's office rejected the request, noting that the DOT could not  provide assurance that the work and $9.5 million would finally fix the longstanding problems. Last week, Liu's office signed off on a $3.2 million emergency contract so that work can proceed quickly on the ferry that is currently dry docked. If in fact the work on that ferry boat is completed successfully, the DOT will follow normal procurement procedures for funding the repairs to the other two ferry boats.  If the repairs fail once again, Liu will explore options to recoup funds associated with the boats’ failures.

   “The ferry is an icon of New York as well as a daily necessity for the  Island’s residents. It's appalling that the highly-touted new ferry boats are still saddled with defects and more troubling that the DOT has no clear solution for resolving these longstanding problems,” Comptroller Liu said. “We will greenlight contracts and funding but in a way that maximizes service for Staten Islanders without giving blank checks to the DOT. The DOT can and must do better with the ferry.”

  State Senator Diane Savino noted, “As a Staten Islander, a ferry rider  and as a member of the Taskforce on State Governmental Efficiency, I want to thank Comptroller Liu for bringing this issue to the forefront. Taxpayers put their trust in government and we should honor that trust by shining a light on obvious waste; these boats were supposed to be the best in cutting edge technology, we paid for the best so we shouldn't accept anything less.”

  “Clearly the city was sold a bill of goods that does not live up to  anyone’s expectations. Since the taxpayers are now stuck with footing the bill for these repairs, the City needs to take every step
necessary to ensure full reimbursement from the manufacturer for this failed investment,” said State Assemblyman Matthew Titone. “It’s the only fair solution, not only for the residents of Staten Island but the City as a whole.”

Background:

  In 2001, the City awarded a contract worth $119 million to Manitowoc  Marine group, Inc. for the construction of three new ferry boats to replace the existing fleet of “Kennedy Class” ferries, which date back
to 1965. The contract ultimately cost $139 million and the three newly purchased ferries (Sen. John J. Marchi, Spirit of America, and Guy V. Molinari) were placed into service between 2005 and 2006.  Since being placed into service, all three boats have experienced problems with their propulsion systems (drives), causing DOT to classify the problem as “systemic.” Currently only two of the boats are in service, with the Sen. John J. Marchi resting in dry dock in Norfolk, Virginia after being taken out of service in December, when Ansaldo Sistemi Industriali, the drives’ original manufacturer, failed in its attempts to fix the problems.

The DOT then demanded that Liu’s office approve an “emergency  contract” with Siemens Industry for $9.5 million for work on three ferry boats.

In its request, DOT stated:

  “For over a month and a half, the ASI technical representatives  surveyed and inspected equipment, collected and analyzed data and participated in numerous dock and sea trials. Thus far, they have been
unable to identify the root cause of the problem or provide recommended solutions. The drives have failed before, as have replacement parts, and it is clear that ASI is unable to support its own equipment to a level required for reliable operation of this vital equipment.”

  “Only Siemens Industry has the knowledge to quickly provide drives and  related equipment that can be easily integrated with its software and plant management.”

  When DOT failed to provide specifics for the contract funding, Liu’s office rejected the request, questioning why it was deemed an emergency when the agency had clearly known about these problems for quite some time.  Subsequently, a series of meetings took place between the DOT and Comptroller’s office, where DOT failed to explain the reasoning for requesting $9.5 million all at once, nor could the agency provide guarantees that a solution would be reached.

  Liu’s office approved last week the funding request for $3.2 million  to address the problems on one of the boats – the ferry that sits in dry dock in Norfolk, Virginia.

  If in fact Siemens can fix the boat, then DOT will have to go through standard procurement procedures in order to obtain additional funds.

  Since the “Molinari Class” of vessels was placed into service in 2005  and 2006, they have regularly experienced problems.  Before he was elected to the Office of City Comptroller, Liu chaired the City
Council Transportation committee where he convened several public hearings about the Staten Island Ferry.

  In one 2009 hearing, he questioned DOT on the boats’ performance.  During that hearing it was discovered that the DOT knew of persistent problems since the boats were placed into service, had no plan to rectify those problems, and were not exploring options for holding the manufacturer liable.

  Ferries undergo strict safety evaluations by a host of regulatory agencies before they are placed into service, ensuring their safety.

*******************************************************