Greg David, THE CITY

Greg David


New York, NY, United States

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  • Crain's New York Business

Past articles by Greg:

Jobs Grow — Along With the Pandemic Gap Between Rich and Poor New Yorkers

The city gained 83,500 jobs in October, the biggest increase in months, as COVID infection rates dropped. But new reports show New York remains one of the most unequal cities in the nation, with the one percent accounting for a rising share of income. → Read More

Unpaid Property Taxes Leap in New York City as Tenants and Landlords Struggle

The $1.3 billion in pandemic-driven arrears surpasses the debt driven up during the last financial crisis. There’s a split, though, over whether the void will throw the city budget into turmoil. → Read More

NYC’s Small Landlords of Color Among Those Battling for Survival Amid Rent Moratorium

The city could see a repeat of the subprime mortgage crisis of 2008, when a disproportionate share of Black and Hispanic homeowners lost their properties, small building owners and their advocates warn. → Read More

NY Fed: minimum wage hikes didn't kill jobs

New York’s rapid increases in the minimum wage have boosted wages for low-income workers without any loss of jobs, the Federal Reserve Bank of New York said Wednesday. If anything, jobs increased. The report from the New York Fed is a key factor in the never-ending debate about the minimum wage… → Read More

How did de Blasio squander his support?

Two numbers dominated headlines from the Siena College Research Institute poll that was released earlier this week: Fewer than 1% of New York State Democrats would vote for Mayor Bill de Blasio if the New York presidential primary were held today and voters' views of the mayor has hit an… → Read More

Like other Democrats, NYers like the Big 3 candidates

New York Democrats, like their counterparts across the country, have coalesced behind the three leading candidates in the presidential primary campaign. But more Democrats may be undecided, giving at least some hope to the long list of candidates still trying to maneuver their way to the top… → Read More

Mayor blows off property tax reform. What's next?

The day before Mayor Bill de Blasio was elected to a second term, then-Citizens Budget Commission President Carol Kellerman confronted him about the city’s hopelessly unfair property tax system. The mayor promised to do something about it. “I am ready to do it ... When I say something that… → Read More

No, WeWork is not a threat to NYC tech

The headline in Crain’s was certainly alarming. "Woe is We: Revaluation Threatens IPO market, city’s tech economy." Analyzing the news that investor interest in WeWork was so poor that the company was considering slashing its valuation in half, my colleague Aaron Elstein wrote, "Things could get… → Read More

Dramatic drop in NYC union membership

Union membership in New York City declined in the last year, erasing gains the union movement had made during the strong economic expansion of recent years. The annual report on union density in the city and the state from the CUNY School of Labor and Urban Studies, released Monday, reported… → Read More

Push for hotel permits is pure politics

It might have been the most public quid pro quo in recent New York City history. Mayor Bill de Blasio needed someone with money and manpower to back his campaign for president. The powerful Peter Ward of the New York Hotel Trades Council wanted to finally achieve his goal of requiring that the… → Read More

Don't be fooled by Amazon headlines

Six months ago Amazon suddenly pulled the plug on its plans to build a second headquarters in Long Island City and bring 25,000 high-paying jobs to Queens. And in recent weeks a wave of stories, many by Daniel Geiger of Crain’s, have reported that Amazon is still drawn to New York for both… → Read More

Moody's off track about taxing the rich for transit

In my last post I mentioned two significant economic reports for New York City and wrote about one of them. Now I'll take on the other: The analysts at ratings agency Moody’s Investors Services, of all people, suggested that because of income inequality the Metropolitan Transportation Authority… → Read More

Bogus claims about minimum wage and restaurants

August has brought two very significant economic reports for New York. Moody’s Investors Services suggested that because of income inequality the Metropolitan Transportation Authority should get new funding from tax hikes on the wealthy instead of fare increases. And an in-depth New School study… → Read More

Home health care drives job growth

Based on the top line of the New York economy, the city is again defying forecasts of a slowdown in the great jobs juggernaut. The city added 52,000 jobs in the first six months of the year, far more than anyone expected. But there is an asterisk, and it is a pretty big one. The job gains are… → Read More

Fed boosts the market, but soon the election will drive stocks

The Fed’s decision to cut interest rates by a quarter of a percentage point is good news for the seemingly relentless bull market and that’s a boost for Wall Street and New York. But the question remains how soon what drives the market soon will shift to the presidential race. The… → Read More

29% of New Yorkers lack broadband

Almost 1 million New York City households lack broadband internet, with the largest number being seniors, those without a high school degree, those not even looking for work and those living in poverty. The stark figures come from a report issued Tuesday by City Comptroller Scott Stringer, who… → Read More

Rent-reform fallout has already begun—and will only get worse

It’s been only 38 days since Gov. Andrew Cuomo signed sweeping pro-tenant changes in the city’s rent-regulation laws, and the fallout has already begun. Construction workers are losing their jobs, lenders are nervous and landlords are figuring out how to lower the property taxes they pay. … → Read More

Tech drives office leasing in Manhattan

Venture capitalists poured more than $8 billion into New York–based startups in the first six months of the year, and the signs of the expansion of tech companies here are everywhere, as I wrote Thursday. But I didn’t get one key piece of information until after my deadline: Tech is… → Read More

These companies are leading a new city tech surge

The expansion of the city’s tech industry continues at a feverish pace. Venture capital firms poured more than $8 billion into New York-area startups in the first half of the year. One of the city’s most promising property tech firms agreed to be acquired as consolidation sweeps that segment of… → Read More

Time for some facts on Con Ed

Every time Consolidated Edison stumbles, politicians—led by Gov. Andrew Cuomo—can’t wait to excoriate the company. It’s a lesson they learned from the steep political price paid by former Mayor Michael Bloomberg when he defended Con Ed during an incident like Saturday’s blackout. It has been… → Read More