While state labor unions declare that contracts cannot be renegotiated, schools and hospitals push back hard against Paterson’s proposal to significantly cut their funding. [NY Times]
Queens groups are concerned that Hunters Point South only sets aside affordable housing for middle-income families, and not those that—like roughly half the households in the borough—make less than $55,000. [NY Times]
NYC opens its first all-night health clinic in Chelsea. [NY Times]
Applications to CUNY community colleges spike as New Yorkers look for a new career or a second income in tough economic times. [NY Times]
American Express to become bank holding company. [NY Times]
Endless construction on a high school library froces Bronx students to struggle through English exams without access to books or computers. [NYDN]
Believe it: gas can be found for less than $2 a gallon in New Jersey. [NYDN]
Realty Check: Extell scores development rights to 57 West 47th Street—the last piece of the puzzle needed to move ahead on its delayed Diamond Tower. [NY Post]
NYC offers residents its latest public art project: prayer booths in Midtown Manhattan. [NY Post]
As companies like Fannie Mae and General Motors continue to cry for help, Bush is pressured to expand his $700 billion bailout package. [WSJ]
Though home inventories dropped slightly in October, they remain extraordinarily large in metropolitan areas nationwide. [WSJ]
Citigroup to modify the terms of $20 billion in mortgages, helping as many as 500,000 borrowers. [WSJ]
The Transport Workers’ Union regains the right to automatically deduct dues from members’ paychecks after being prohibited from doing so for 17 months as a penalty for its 2005 strike. [Crain’s]
Copyright 2008 The New York Observer
