Published by on Oct 21, 2021 | Business
2 8 mins
The Bronx Daily | Bronx.com

Wall Street’s run of prosperity extended into the first half of 2021 with $31 billion in pre-tax earnings, beating 2020’s outsized first half profits of $27.6 billion, even as job losses accelerated in New York City’s securities industry, according to State Comptroller Thomas P. DiNapoli’s annual report on Wall Street’s performance.

“Wall Street’s success during the pandemic has benefited New York’s economy and finances during a difficult time. The securities industry’s strong profits have helped shore up tax revenues and securities industry workers have been among the first to return to the office,” DiNapoli said. “Financial markets move in cycles, however, and profits will subside at some point. As we prepare for an eventual slowdown in Wall Street’s record activity, we need to ensure New York’s Main Street, and its other vital sectors, are also recovering.”

Securities industry performance is traditionally measured by the pretax profits of the broker/dealer operations of New York Stock Exchange (NYSE) member firms. There are now about 125 member firms, down from more than 200 in 2007, before the global financial crisis.

2021’s first half gains were driven by some of the same factors that boosted profits last year: record low interest rates kept expenses down, strong trading volume, record earnings in subsectors like global equities — which had the strongest six-month period since 1980 — and record revenues from underwriting and account supervision fees and investment advisory fees.

Initial third…

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REAL ESTATE

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Photograph taken from a Japanese plane during the torpedo attack on ships moored on both sides of Ford Island. View looks about east, with the supply depot, submarine base and fuel tank farm in the right center distance. A torpedo has just hit USS West Virginia on the far side of Ford Island (center). Other battleships moored nearby are (from left): Nevada, Arizona, Tennessee (inboard of West Virginia), Oklahoma (torpedoed and listing) alongside Maryland, and California. On the near side of Ford Island, to the left, are light cruisers Detroit and Raleigh, target and training ship Utah and seaplane tender Tangier. Raleigh and Utah have been torpedoed, and Utah is listing sharply to port. Japanese planes are visible in the right center (over Ford Island) and over the Navy Yard at right. Japanese writing in the lower right states that the photograph was reproduced by authorization of the Navy Ministry. U.S. Naval History and Heritage Command Photograph.
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Published by on Oct 18, 2021 | Asia

In an earlier Dismal Optimist several months ago, I suggested that US tech embargoes might provoke a Chinese attempt to takeover Taiwan by force. I compared the current US tech embargoes with the US and British embargoes on oil exports to Japan before WWII. As a result of these oil embargoes, Japan made what turned out to be the disastrous decision to attack Pearl Harbor and the British Empire in Asia. The attack was a military victory for Japan but brought a war that was an incredible catastrophe for Japan. The US may be provoking China to attack Taiwan with its tech embargoes.

Although there were a few others saying similar things when I wrote about the US tech embargo, some readers might have thought it was wild eyed speculation. But now we have a Research Bulletin just put out by IC Insights. IC Insights is a sober and highly respected observer of the global semiconductor industry. (IC stands for Integrated Circuits which are mostly semiconductors.) The title of this latest bulletin says it all, IC Industry at Heart of Possible China Takeover of Taiwan.

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CRIME

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NOTABLE

PERSONS

Street Renaming Petition To Honor Mario D’Agostino
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Mario D’Agostino, who passed away June 14, 2020, was a true leader in his community in the Bronx and left his mark on the neighborhood and everyone, who had the pleasure of knowing him. 

Mario was an honorable man, who changed people’s lives with his beautiful mind, strong work ethic, positive outlook on life and investing in his favorite part of New York City, the Bronx.

Editorial

You should know that there was a time when becoming a Citizen of the United States and becoming an American was part of the American Dream.

Immigrants dreamed and looked forward to obtaining that beautiful blue passport that when presented identified them as a full-fledged American, and they felt that they had acquired part of that American Dream. Acquiring that American Passport gave those who possessed it prestige, liberty and the protections that came with being a citizen of the United States people of other nations could only wish for.

You should know that becoming an American Citizen came with pride and inalienable rights, to life, liberty and the pursuit of happiness. This came with the opportunities and the promise that anyone can prosper and acquire the happiness they seek with a good education and hard work. As American Citizens we are afforded the right to elect our leaders and representatives on the city, state, and federal levels. The beauty of America is that when you become an American Citizen all citizens become one people, the American People.  

It is important for you to know that it is painful and disheartening to hear when New York City Councilman Ydanis Rodriguez said that if American Citizens, do not like granting the undocumented immigrants the right to vote then “pack your bags and move to another city or to another country.” Wow! What nerve and audacity to say this to American Citizens who have fought for this country and have abide by our country’s laws and New York State Constitution.

Could you Imagine what we have come to! while some have waited in line, sacrificed everything, their lives, their families, their positions to obtain American Citizenship and others such as Puerto Ricans who shed their blood and sacrificed to obtained American Citizenship, Ydanis Rodriguez now tells us, that if we do not agree with him in violating the Constitution, which he swore to uphold, and allow non-citizens or the undocumented who entered this country without authorization, or documents, that we should leave our homes, City, State or even our Nation.

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Published by Jonas Bronck on Oct 21, 2021 13 mins
1 13 mins
The Bronx Daily | Bronx.com

Mayor de Blasio today announced a new Pay Equity Cabinet to address race and gender-based pay disparities in New York City. An Executive Order will make the Cabinet a permanent part of City government to ensure that pay equity is a mayoral priority into the future.

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“Immigrants and people of color, essential workers, who carried us through the bleakest days of the pandemic, are at the forefront of the fight for equal pay,” said First Lady Chirlane McCray. “New York City continues to pave the way with Paid Safe and Sick Leave Law and other workplace protections, and the Pay Equity Cabinet is a bold step toward closing the race and gender pay gap once and for all.”

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SPORT NEWS

2 4 mins
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The journey of women in Australian horse racing has not been an easy one. From the mid-70s when women were first allowed to compete in Australian horse racing to the success of Michelle Payne, the first female jockey to win the esteemed Melbourne Cup in 2015, the rise of the female jockey has been a slow and steady progression in the world of Australian horse racing.

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LOCAL

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