The Average Wall Street Bonus , Decreased by 26% in 2022.
According to estimates released on March 30 by
New York State Comptroller Thomas DiNapoli.
the average yearly Wall Street bonus dropped from $240,400 to $176,700 last year.
CNN reports that last year's bonus is still
over "twice the median annual income"
than American households.
According to the Census Bureau, average U.S. household income in 2021 was $70,800.
Wall Street firms were affected by
inflation, Russia's war in Ukraine and
fears of recession, among other things.
Wall Street firms were affected by
inflation, Russia's war in Ukraine and
fears of recession, among other things.
Wall Street firms were affected by
inflation, Russia's war in Ukraine and
fears of recession, among other things.
A 26% decline brings the average bonus closer to what financial employees received prior
to the pandemic, Thomas DiNapoli, New York State Comptroller, via statement.
CNN reports that in 2021, Wall Street
firms had a $42.7 billion bonus pool.
Last year, the pool was at $33.7 billion, marking the biggest decrease since the Great Recession.
The lower bonuses are projected to respectively bring
in $208 million less and $457 million less in city and
state tax revenue compared to the previous year.
While lower bonuses affect income
tax revenues for the state and city, our economic recovery does not depend solely
on Wall Street. Employment in leisure and hospitality, retail, restaurants and construction must continue to improve
for the city and state to fully recover, Thomas DiNapoli, New York State Comptroller, via statement
Credit: Wibbitz Top Stories Duration: 01:31Published
Thousands Without Power , as Northeast Digs Out From Winter Storm.
AP reports that the Northeast was hit with a winter storm on March 13 which lasted throughout March 14.
Some areas accumulated up to 3 feet of snow.
According to the National Weather Service, some of the hardest-hit areas were Peterborough,
New Hampshire, and Ashby, Massachusetts. .
Northern New York and the Catskill Mountains had at least 2 feet of snow.
In Goffstown, New Hampshire, an inflatable sports arena dome succumbed to the weight of the snow after receiving about 15 inches.
A dairy farm in Dracut, Massachusetts,
lost several cows after a barn collapsed
from the snow and killed them.
According to PowerOutage.us, as of the morning of March 15, close to 220,000 people in the region had no power.
Amid the worst of the storm on March 14, nearly 2,100 flights were canceled.
Boston and New York City airports
had the most cancellations.
New York and Pennsylvania power crews
are currently attempting to help
restore power in areas of Massachusetts. .
We are still expecting this to be a multiday restoration effort, Alec O’Meara, Unitil spokesperson, via statement
Credit: Wibbitz Top Stories Duration: 01:30Published
Starbucks Committed , ‘Egregious and Widespread’ Labor Violations , Against Unions, Judge Says.
'The Hill' reports that Judge Michael A. Rosas made the ruling on March 1.
He ordered Starbucks to provide back pay
and damages to employees who launched organizing efforts around the country. .
The case included 33 labor complaints
from 21 Starbucks stores in New York. .
In his ruling, Rosas determined that the coffee giant showed "a general disregard for the employees' fundamental rights.".
Starbucks has also been ordered to post a
"Notice to Employees" in all of its U.S. facilities alerting staff that "the National Labor Relations Board has found that we violated Federal labor law.".
The company must also reopen
a Buffalo, NY, store and rehire workers
who were fired for forming unions.
Additionally, Starbucks must cease and desist from several unlawful actions such as telling staff they'll have more benefits if they don't join a union, among other things.
A Starbucks spokesperson issued a statement.
We believe the decision and the remedies ordered are inappropriate given the record in this matter and are considering all options to obtain further legal review, Starbucks spokesperson, via statement.
Starbucks currently has 281 unionized stores, and more locations around the U.S.
continue to seek unionization
Credit: Wibbitz Top Stories Duration: 01:30Published
This Day in History:, U.S. Hockey Team Beats the
Soviets in the 'Miracle on Ice'.
February 22, 1980.
The underdog U.S. team defeated the
four-time defending gold medal Soviet team
at the XIII Olympic Winter Games in Lake Placid, New York.
The U.S. win is considered one of the
most dramatic upsets in Olympic history.
The Soviet squad fell to the youthful
American team 4-3 before a frenzied
crowd of 10,000 spectators.
The American team trailed most of the game,
finally taking the lead with ten minutes left.
When the final horn sounded, the players,
coaches and team officials poured
onto the ice in celebration.
To many Americans, the "Miracle on Ice"
represented a Cold War victory
Credit: Wibbitz Top Stories Duration: 00:51Published
US Braces , For Extreme Weather , and Numerous Winter Alerts.
NBC reports that 34 million Americans are
currently facing winter alerts and extreme
weather from California to Maine. .
The news comes as Minneapolis braces for its
biggest snowstorm in over a decade and the
potential for life-threatening travel conditions.
Due to obstructions, it is hard to get
blizzard conditions in major metropolitan
areas such as the Twin Cities, but with the
actively falling snow and strong winds,
this would be an event that could do so, National Weather Service in Twin Cities, via NBC.
Meanwhile, blizzard warnings have
been issued for parts of the Rockies,
the northern Plains and the Upper Midwest. .
On February 21, the first round of snow
is expected to start, with five to seven inches
or more predicted to fall over night.
Winds have been forecast
to be in the ten to fifteen
miles per hour range.
A second round of snow has been forecast to start around
midday on February 23, with the potential to add 10 to 15
inches of snowfall and bring 45 to 50 mph wind gusts.
NBC reports that cities most likely to face
treacherous travel conditions or power outages
include Chicago, Detroit and Albany, New York.
Meanwhile, severe storms are predicted from Missouri
to the Oklahoma-Texas border, with the potential
for everything from hail and high winds to tornadoes.
Meanwhile, severe storms are predicted from Missouri
to the Oklahoma-Texas border, with the potential
for everything from hail and high winds to tornadoes.
According to NBC, the cities
most at risk for damaging winds
include Oklahoma City and Tulsa.
Credit: Wibbitz Top Stories Duration: 01:31Published
A day after Prime Minister Narendra Modi claimed that all tricks were played to "implicate" him and put him behind bars when he was Gujarat CM, Union home.. IndiaTimes
Senate Votes to Repeal , Authorizations for Military , Operations in Iraq.
On March 29, the United States Senate voted to
terminate two decades-old resolutions that grant
authorizations for the use of military force (AUMF) in Iraq.
On March 29, the United States Senate voted to
terminate two decades-old resolutions that grant
authorizations for the use of military force (AUMF) in Iraq.
Fox News reports that critics have long claimed that
the resolutions have been used inappropriately
to justify military campaigns in the region.
The Senate repealed 1991 and 2002 authorizations
for military force used in the Gulf War
and following the 9/11 attacks. .
We’re going through the responsible,
much-needed and much-neglected work
of finally, legally bringing a war to a close. , Todd Young, Republican Indiana Senator, via Fox News .
Earlier this month, Sen. Todd Young's office , said ending the AUMFs would... .
...reassert Congress’ constitutional role in deciding whether and when to send our service members into harm’s way and enhance the relationship the United States now has with a sovereign, democratic Iraq, Sen. Todd Young's office, via statement.
Opponents of repealing the authorizations,
including GOP Leader Mitch McConnell, claim
they are critical for U.S. deterrence against Iran.
I am opposed to Congress sunsetting
any military force authorizations in
the Middle East. Our terrorist enemies
aren’t sunsetting their war against us. , Mitch McConnell, Senate GOP Leader, via Fox News .
I am opposed to Congress sunsetting
any military force authorizations in
the Middle East. Our terrorist enemies
aren’t sunsetting their war against us. , Mitch McConnell, Senate GOP Leader, via Fox News .
And when we deploy our service members in
harm’s way, we need to supply them with all
the support and legal authorities that we can. , Mitch McConnell, Senate GOP Leader, via Fox News .
Fox News reports that the legislation does not
affect the authorization of military force against
people and groups responsible for the 9/11 attacks.
Senator Rand Paul's proposed
amendment to include that measure in
the bill was voted down 86 to 9.
Credit: Wibbitz Top Stories Duration: 01:30Published
PDP president Mehbooba Mufti on Wednesday asked Congress to act like an 'elder brother' and create space for opposition parties in their fight for democracy... IndiaTimes
The Election Commission is going to announce the schedule for Karnataka assembly elections today. The term of the 224-member Karnataka assembly will end on May.. IndiaTimes
The Ethics Committee of the House of Representatives has vote unanimously to open a formal ethics investigation into George Santos. MeidasTouch host Ben Meiselas reports.
Rep. George Santos returns to The Late Show to show Stephen what “sorry” looks like, and to share what he’s been up to since resigning from his committee assignments. Special thanks to our friend..
House Speaker Kevin McCarthy said New York GOP Rep. George Santos is facing a House Ethics Committee probe, confirming for the first time that the panel has opened an investigation into the embattled..
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