Expert Issues Gloomy Report On Anniversary Of Lehman Brothers Collapse
Sunday marked the fifth anniversary of the collapse of the Lehman Brothers investment bank collapse, and one expert said the situation has not really improved.
Watch CBS News
Sunday marked the fifth anniversary of the collapse of the Lehman Brothers investment bank collapse, and one expert said the situation has not really improved.
Manasquan is one town whose revenue decline can be attributed to just about every problem experienced along the shore. Beach revenue, including from parking, was down $290,000 through July 21.
The summer spike in gas prices has drivers feeling the pain at the pump, but that financial stress could be rippling through the rest of the economy as well.
The birthplace of suburbia needs an upgrade if it hopes to hold on to a strong economy, according to experts meeting in Farmingdale about the future of Long Island.
The House voted 89-53, with eight lawmakers not voting, to pass the bill. The vote came nearly a week after the state Senate approved the legislation.
We've heard the overall headline that home sales are the best in seven years. But we wanted to break down the trends for the New York City area.
A strong Long Island economy is dependent on a immigrant workforce, according to Joe Gergela of the Long Island Farm Bureau.
President Barack Obama said the national union is strong State of the Union Address Tuesday night, but he still has a raft of sticky-wicket problems to deal with at home and abroad.
Superstorm Sandy could wind up benefiting the New Jersey economy. That's the expert opinion from the Bloustein School of Public Policy and Planning at Rutgers University.
President Barack Obama demanded Monday that Congress raise the federal debt limit quickly and said he will soon ask Congress to enact new gun legislation in the wake of the shootings a month ago in Newtown, Conn.
As economic uncertainty persists, many people are looking for ways to save money. One of the ways they are doing it is by cutting corners at home, but that decision, according to experts, could be costly.
Tax doomsday is looming, but it's still a political standoff in D.C., with one side seemingly waiting for the other to act. While the Senate is already in session, the House will not be back before Sunday.
New York State Comptroller Thomas DiNapoli says that if the federal government goes over the 'fiscal cliff,' it would mean a big hit in the wallet for Empire State residents.
Speaker John Boehner believes he holds a strong hand in fiscal cliff and debt limit talks. He is, once again, taking the global economy hostage and playing politics with the U.S. debt limit.
Obama is hoping to promote the discussion of the Bush tax cut extensions by getting people hooked on the topic and by getting them to use the #My2K hashtag on Twitter.
Most Americans who traveled during this Thanksgiving holiday came face to face with an American reality: while there is much to be thankful for, our infrastructure is not one of those things.
After all the hype regarding Walmart employees' discontent with their employer and the threat of a strike on Black Friday, the long holiday weekend was saw banner sales and virtually no protest at Walmarts.
Will superstorm Sandy and the economy have a negative effect on holiday shopping? Not if you ask one local shopping center owner.
Grover is the ultimate in single interest constituencies in Washington. He is not accountable to anybody. He does not disclose who funds him, who pays him to do what he does or how much he is paid to blackmail GOP Members of Congress to sign his pledge not to raise taxes.
If Republicans, as a political party, continue this hostility toward science then they do not understand the driving force that science and innovation play in our economy. It also is another proof point in the case that Democrats made about Republican math not adding up.
There is a new breed of truthers on the right. Joining the paranoid ranks of the advocates of a government role in 9-11 and the birthers fascination with President Obama's birth certificate are conservatives that believe the Bureau of Labor Statistics (BLS) is making up jobs numbers to benefit President Obama.
In no time, conservatives will be trying to hold back the smirks as these liberals slowly but surely realize what they've done to our country.
Today, Republicans feel a combination of confusion, disbelief, and anger as to how a slim majority of Americans can possibly want four more years of the Obama administration in the White House. To many, it seems inconceivable that people want to take a chance on more of the same.
After two years and more than two billion dollars spent, President Obama was returned to Washington with a clear mandate on the economy and the direction of the country.
On Friday, President Barack Obama told his supporters at a campaign rally – inside a public high school, no less – to vote for revenge!
A CBS News New York investigation found online loopholes may be putting New York City's effort to prevent lithium-ion battery fires at risk.
President Joe Biden and first lady Jill Biden made a rare visit to Staten Island on Monday to honor service members and their families ahead of Thanksgiving.
Nico Hischier recorded his first career hat trick to give the New Jersey Devils a 5-2 win over the Nashville Predators.
Lucas Raymond scored the go-ahead goal in the third period and the Red Wings rallied to beat the Islanders 4-2.
The St. Louis Blues beat the New York Rangers 5-2 in Jim Montgomery's coaching debut.
A CBS News New York investigation found online loopholes may be putting New York City's effort to prevent lithium-ion battery fires at risk.
President Joe Biden and first lady Jill Biden made a rare visit to Staten Island on Monday to honor service members and their families ahead of Thanksgiving.
The mystery behind a wealthy New York couple's 1980 disappearance is starting to unravel after a team found their missing car in a Georgia pond.
New data shows car thefts at Port authority parking lots are spiking by more than 50% this quarter amid the annual holiday travel surge.
New York City is taking action against the contractor who was doing construction work on a building in the Bronx that partially collapsed in 2023.
A Thanksgiving storm is forecast to bring rain, and even snow, for some parts of New York and New Jersey.
Thanksgiving week starts Monday with partly sunny skies and temps in the mid 50s, but things will change from there.
The MTA announced the Federal Highway Administration has given congestion pricing the green light, clearing the way for it to start on Jan. 5, 2025.
After a long period of drought and fire hazards, we're getting an early taste of winter. New York, New Jersey and Connecticut have been desperate for rain.
The first major snowstorm of the season brought school closures, power outages, and heavy snow to our region, including to areas that badly needed it.
New data shows car thefts at Port authority parking lots are spiking by more than 50% this quarter amid the annual holiday travel surge.
A fire in Newark Saturday left more than 80 people - mostly senior citizens - homeless just days before Thanksgiving.
A Thanksgiving storm is forecast to bring rain, and even snow, for some parts of New York and New Jersey.
It's Thanksgiving week and what is expected to be a record number of people will be hitting the road or taking to the sky to celebrate.
New Jersey Sen. George Helmy said congestion pricing could drive businesses out of New York City and into the Garden State on "The Point with Marcia Kramer."
A Babylon boat yard went up in flames after an intoxicated woman drove the wrong way and crashed into boats, police said.
New Jersey Sen. George Helmy said congestion pricing could drive businesses out of New York City and into the Garden State on "The Point with Marcia Kramer."
Thanksgiving week starts Monday with partly sunny skies and temps in the mid 50s, but things will change from there.
The MTA announced the Federal Highway Administration has given congestion pricing the green light, clearing the way for it to start on Jan. 5, 2025.
After a long period of drought and fire hazards, we're getting an early taste of winter. New York, New Jersey and Connecticut have been desperate for rain.
President Joe Biden and first lady Jill Biden made a rare visit to Staten Island on Monday to honor service members and their families ahead of Thanksgiving.
U.S. Attorney for the Southern District Damian Williams announced plans to resign Monday.
Special counsel Jack Smith asked a federal judge to toss out the charges against President-elect Donald Trump in the case stemming from the 2020 election.
New Jersey Sen. George Helmy said congestion pricing could drive businesses out of New York City and into the Garden State on "The Point with Marcia Kramer."
Democrats say they're concerned or scared Trump will threaten their rights, but fewer than half feel motivated to oppose him.
Whole Foods Market stores in five states sold recalled carrots and celery sticks that could contain E. coli.
Lattes and other espresso-based drinks may not be available at some McDonald's restaurants due to a glitch with coffee machines.
The packaging label omitted a key ingredient, prompting a Food and Drug Administration recall.
The manufacturer of tumblers sold at Wawa stores says it has received four reports of cuts from the product's metal drinking straws.
Decision to cut topping comes as officials work to confirm source of E. coli outbreak linked to McDonald's Quarter Pounders.
New York's iconic Blue Man Group is packing it in after more than 30 years on stage.
Chuck Woolery was inducted into the American TV Game Show Hall of Fame in 2007 and earned a daytime Emmy nomination in 1978.
Lawyers for actor Jonathan Majors and Grace Jabbari agreed to dismiss the case with prejudice, according to a joint filing in Manhattan federal court.
Cynthia Erivo, Ariana Grande, AMC and fans react to the debate over in-theater singing during "Wicked."
A federal judge is deciding whether to release Sean "Diddy" Combs on bail as he awaits trial on sex trafficking and racketeering charges.
Nico Hischier recorded his first career hat trick to give the New Jersey Devils a 5-2 win over the Nashville Predators.
Lucas Raymond scored the go-ahead goal in the third period and the Red Wings rallied to beat the Islanders 4-2.
The St. Louis Blues beat the New York Rangers 5-2 in Jim Montgomery's coaching debut.
The Buccaneers rushed for four touchdowns in a 30-7 victory over the Giants and new starting quarterback Tommy DeVito on Sunday.
The New York Rangers lost to the Edmonton Oilers 6-2 on Saturday night.
Tenants in a six-story building in Queens say they were forced to climb stairs amid a six-week-long elevator outage.
The new Davis Center will bring back the wonder of skating and swimming alongside Harlem Meer in Central Park.
Thursday marks exactly 60 years since the Verrazzano-Narrows Bridge opened to much fanfare.
Nov. 29 is the last day for New York City restaurants to remove roadway dining sheds, which will now be seasonal under new regulations set by the City Council.
A new state-of-the-art trash system in NYCHA's Polo Grounds Towers in Harlem promises to tackle energy, rodent and recycling issues.
Dogs got decked out for the annual Tompkins Square Halloween Dog Parade in New York City's East Village on Saturday.
Cosplayers flooded New York City's Javits Center in October 2024 for the annual New York Comic Con convention.
Tens of thousands of people flooded Manhattan streets on June 2, 2024 for the 60th annual Israel Day on Fifth Parade.
The Francis Scott Key Bridge in Baltimore collapsed early Tuesday, March 26 after a column was struck by a container ship that reportedly lost power, sending vehicles and people into the Patapsco River.
The 50th Annual Village Halloween Parade drew massive crowds, celebrating the theme "Upside/Down:Inside/OUT."
Vanessa Murdock has the Tri-State Area's updated Monday night forecast on CBS News New York.
A CBS News New York investigation found online sellers may be putting New York City's effort to prevent lithium-ion battery fires at risk. Tim McNicholas reports.
President Joe Biden and first lady Jill Biden took a rare trip to Staten Island to honor service members and their families ahead of Thanksgiving. CBS News New York's Jennifer Bisram reports.
President-elect Donald Trump says he will impose tariffs on Mexico, Canada and China on day one in office. CBS News New York's Dick Brennan reports.
Though messy weather is on the way, the problems at Newark Airport started because of a shortage of air traffic controllers. CBS News New York's Naveen Dhaliwal reports.
