Unlike Iceland, where the government let misbehaving banks fail and talented kids became less interested in leaping into the cesspool of finance, in New York there has been no public rejection of the culture that led to the financial crisis. Instead, there has been tacit encouragement of the banking industry’s actions from figures like Mayor Bloomberg. The nation’s largest financial institutions are almost all still around, still “too big to fail” and as powerful as ever. One might hope that enlightened bankers might emulate the Medicis and fund culture-makers both emerging artists and those still in school as a way of ensuring a continued talent pool that would invent stuff and fill the world with ideas and inspiration, but other than buying blue-chip art for their walls and donating to some institutions what is, for them, small change, they don’t seem to be very much interested in replenishing the talent pool. One would expect that the 1% would have a vested interest in keeping the civic body healthy at least that they’d want green parks, museums and symphony halls for themselves and their friends, if not everyone. Those, indeed, are institutions to which they habitually contribute. But it’s like funding your own clubhouse. It doesn’t exactly do much for the rest of us or for the general health of the city. At least, we might sigh, they do that, as they don’t pay taxes that we know. Many of the wealthy don’t even live here. In the neighborhood where I live (near the art galleries in Chelsea), I can see three large condos from my window that are pretty much empty all the time. What the fuck!? Apparently, rich folks buy the apartments, but might only stay in them a few weeks out of a year. So why should they have an incentive to maintain or improve the general health of the city?
New York City Opera Files for Bankruptcy
But he didn’t step in, an official said. He also didn’t tell his superiors about what happened until Wednesday, the source said. The officer, who works undercover, is a member of the motorcycle club. He may not have been legally obligated to immediately intervene, according to the same source. It’s not clear why he waited so long to report what he saw. He has hired a lawyer and is being investigated by the New York Police Department’s internal affairs unit. Suspect identified in SUV battle Suspect identified in SUV battle Interrogations, arrest Police seized the helmet-cam video and questioned the motorcyclist who shot it. They arrested Cruz, 28, the biker who abruptly slowed in front of the Range Rover. He is charged with misdemeanors including reckless driving. Cruz was later released after posting $1,500 cash bail and a $15,000 insurance bond. His license was suspended, and he was ordered to surrender his passport. Cruz’s lawyer insisted he is not guilty. “His motorcycle was struck, and he stood right there,” his attorney H.
If the 1% stifles New York’s creative talent, I’m out of here
The bankruptcy will protect the opera from creditors and provide a forum for negotiating debts and possibly selling assets. The opera listed New York City Ballet as one of its biggest unsecured creditors, with a claim of $1.6 million, according to the petition. The operas lawyer, Kenneth Rosen of Lowenstein Sandler LLP, said on Sept. 30 that the opera would be liquidated or possibly sold in court to another cultural or educational institution. Canceled Season In an e-mail statement on Oct. 1, George Steel , the artistic director and general manager since 2009, said the company canceled its 2013-12014 season. Anna Nicole finished its run on Sept. 28. New York City Opera co-produced Anna Nicole with the Brooklyn Academy of Music . New York City Opera did not achieve the goal of its emergency appeal, he wrote. New York City Operas projected deficit for fiscal year 2012 was $44.1 million, although it had a balanced operating budget in recent years, according to the filing. The operas long-term structural deficit problems started in 2003, and it blamed its financial condition on a troubled economy, decreased donations, and increasing pension obligations, according to the filing.