Word: hevesy
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...York City, no doubt you'll be happy to learn that the combined bonus pool on Wall Street for last year's labor, which will be paid out in coming weeks, rose 16% to an all-time high of $21.5 billion, according to New York State Comptroller Alan Hevesi. He's as happy as any Lower Manhattan diamond dealer. Those bonuses will bestow $1.5 billion of tax revenue on New York state's budget and another $500 million on New York City's budget, and by extension benefit all state residents...
...Retirement System, General Motors and Verizon. As a Refco insider (several Lee executives are on the Refco board), Lee and the underwriters who took the company public may be on the hook for shareholder losses. "We have a history of taking forceful action in response to misbehavior," says Alan Hevesi, New York State comptroller, whose retirement system invested $36 million in Refco through Lee and others. Lee declined to comment. Bennett's lawyer, Gary Naftalis, reiterated what he had already said in court: "We think the government jumped...
...have a "chilling effect" by making it tougher to recruit directors. Elson himself is on three boards and says the settlement "creates some introspection" as to whether he should continue. Still, many applaud. "The only chill will be on directors who think it's a social club," says Alan Hevesi, New York State comptroller and a leader in the push for directors to pay up. Being a director isn't what it used to be. But maybe, at last, it's what it should be. --By Daniel Kadlec
...city’s Metropolitan Transit Authority (MTA) will be raising subway and bus fare from $1.50 to $2. But last Wednesday, New York State Comptroller Alan Hevesi charged that MTA officials kept double books in order to justify the hike—raising commuter rail rates by around 25 percent, MTA bridge tolls by 50 cents and bus and subway fares by 33 percent. Hevesi said that $512 million in surplus was moved by MTA into the revenue column of later years. Another audit of NYC Transit found $850 million was mislabeled as operating expenses. These numbers are relatively...
...crimes. Some New York State legislators, with the support of victims' rights groups, are seeking to crack down on the unsavory trading cards. Their bill, which parallels proposed legislation in a handful of other states, would make it a misdemeanor to sell such cards to minors. Argues sponsor Alan Hevesi, an assemblyman: "Where there is excessive violence in a film, children are barred from admission, and that's constitutionally protected." But Dean Mullaney, a Forestville, Calif., publisher of a line of cards featuring fbi agents and crooks, insists that such products do not exalt criminals. "Silence of the Lambs...
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