Author: support

AMTRAK PLEADS FOR $5.9 BILLION. The nation’s premiere rail carrier needs the funds now to prevent service cuts, layoffs, and to “stave off bankruptcy,” CEO William Flynn told Congress on 9 September. Amtrak has announced it will lay off 10 percent of its 20,000 workers by the end of this month and is cutting its...

The number of so-called “criticized” commercial real estate loans, those judged to be heading for trouble, rose 144 percent in the second quarter to $26 billion in value among the ten U.S. banks holding the largest volume of those loans, according to a Financial Times report. A criticized loan is a debt rated CCC or...

By August, no more than an estimated 8 to 10 percent of New York’s office workers had returned to their urban towers, 20 percent fewer than analysts had projected in May. Just 25 percent of companies leasing Big Apple office space planned to bring their workers back to town this year, according to a recent...

In late August, 335 storefronts stood empty along New York City’s Great White Way, compared to 188 at the same time in 2017, according to Manhattan borough president Gale Brewer. About a third of the vacancies were along the avenue’s 44-block stretch that includes the Garment District. Foot traffic through the area fell 93 percent...