Dude, Can You Spare A Trillion?

September 13, 2010

Part one of a two-part series. Read part two. What happens when a state is unable to pay its creditors? The gap between state government spending and revenue has widened for years. The recent deep recession and the halting economic recovery that followed have put an already fragile system under pressure and are making it impossible to ignore long-standing problems. California has long appeared to be the state in the …

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New Orleans: Five Years After Katrina

August 9, 2010

For decades, residents of the City That Care Forgot languished in impoverished communities with failing schools and high crime rates. All the while, people enjoyed a leisurely life in the Big Easy. In August 2005, Mother Nature attempted to destroy both. Now, only one of these cities can survive. A Different Type of City New Orleans: Third World and Proud of It. Those words, emblazoned on a bumper sticker that …

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Business Breakups Needn’t Be Difficult

June 4, 2010

Business partnerships, like marriages, can end in “divorce.” Whether you exit with an equitable share of the business and intact relationships with your partners depends on proper planning. Suppose you and your close friend establish a niche service business as equal owners. You provide the capital to get the company off the ground, while your partner manages the day-to-day operations and provides the consulting services. The company operates at a …

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Republicans See More Leverage Next Year

Republicans See More Leverage Next Year April 5, 2010

Editor’s Note: This article was adapted from columns that appeared in the Current Commentary section of our Web site, www.palisadeshudson.com, on Feb. 17 and Feb. 24. We invite readers to subscribe to our daily commentaries via email and Twitter, and to submit responses online or via email to sentinel@palisadeshudson.com. Despite the problems stemming from the one-year lapse of the estate tax that Eric Meermann describes in this issue’s cover story, …

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Obama’s New Deal for Blacks in America

October 2, 2008

Barack Obama’s overwhelming support among African-Americans may seem like an exercise in blind faith or racial pride, but policy, not skin color, is driving this enthusiasm. Obama’s campaign positions speak directly to the everyday issues that low- and middle-income African-Americans face. His initiatives address their personal difficulties with poverty, unemployment, crime, credit and the effects on families of widespread long-term incarceration. While some Americans may view Obama’s proposals as a …

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Revisiting The Clear Channel Deal

June 1, 2008

It must be summer: Shareholders of Clear Channel Communications are voting, once again, on whether to accept a buyout of their company. The deal was on its deathbed, tied up in litigation in two states, before the company, its would-be buyers and the buyout firms’ lenders agreed to share the pain and move ahead. It remains to be seen whether the company’s sometimes-balky shareholders will go along. They should, because …

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Worst-Case Scenario Is Not Pretty

April 1, 2008

America and the world have a lot to lose if we exhaust other countries’willingness to fund our borrow-and-spend tendencies. Already, the huge volume of money that Washington and other governments printed in recent years is driving up demand for commodities well beyond the capacity of producers to meet it. From oil to corn to iron ore, prices of basic materials are soaring around the world. Except for food and fuel, …

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Ruling Further Separates Brokers, Registered Advisors

January 1, 2008

In rejecting the so-called “Merrill Lynch Rule,” a recent federal appeals court decision has re-established traditional regulatory guidelines that afford more protection to investors. For years, some stockbrokers had attempted to blur the distinction between themselves and investment advisors, who have strict fiduciary duties to their clients. They succeeded for awhile, in part because of the Merrill Lynch Rule, adopted temporarily in 1999 and approved in 2005 by the Securities …

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Retiring On The Backs of Young Workers

January 1, 2008

Generation Y just stepped into the work force, and we’re already thinking about retirement — not our own so much as that of the baby boomers. How can we support a growing multitude of retirees and ourselves at the same time? Under the current Social Security system, it is not possible. To most members of my generation, the downfall of Social Security is inevitable. We pay taxes, never expecting to …

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Clients, Colleagues Foster 15 Years Of Growth

January 1, 2008

It was gray and snowy January day, 15 years ago, when I lugged a computer and an unassembled desk into a converted movie house to start my business. And it was very, very quiet. No more commuter train to Manhattan; I could walk to work from our Westchester co-op. No throng in the lobby of a glass-and-steel tower; my office was tucked away at the far end of an alley. …

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