A Hartford judge will hear arguments this morning in a landmark education lawsuit that challenges the way Connecticut funds its public schools.
The state attorney general’s office wants the judge to dismiss the case, which was brought in 2005 by the Connecticut Coalition for Justice in Education Funding.
CCJEF is a statewide coalition of municipalities, local boards of education, unions, and education advocates who say the way the state finances local public schools denies many students their constitutional right to an equitable and adequate education.
Originally published on Mon September 16, 2013 11:01 am
Larry Summers has removed his name from the running to be the next chairman of the Federal Reserve. The former Treasury secretary informed President Obama of his decision in a phone call Sunday. The withdrawal was first reported by The Wall Street Journal.
Yale’s School of Management wants the nation’s regulators to learn the lessons of the financial crisis, and they’re designing a new program to help them do it. When Wall Street hit the skids in 2008, it was Main Street that largely paid the price. Andrew Metrick, professor of finance at the Yale School of Management, says one reason is that regulators weren’t looking in all the right places in the years before the crash.
On Wednesdays on Where We Live, we try to tackle as much of the news you need to know now as we possibly can. But it's a long, long week, don't ya know. So, the Wheelhouse Digest was created to let you see what we're looking at, talking about and shaking our heads over in the newsroom on those other days.
Let's get to it. It's Friday the 13th, and I'd like to crawl back under my desk and hide.
The executive director of Amistad America Inc., a New Haven-based non-profit, asserts that all money it has received from the state has been used appropriately. Amistad America owns and operates the Freedom Schooner Amistad, and recently lost its non-profit status after falling behind in filing federal tax returns.
There's a lot of searching on Capitol Hill but no discovery yet of a way to avoid a federal government shutdown at the start of next month.
Speaker John Boehner and Majority Leader Eric Cantor are searching for enough House GOP votes for a spending bill that could pass in the Democratic-controlled Senate and keep the government open past Sept. 30.
Tea Party-affiliated lawmakers are searching for a way to repeal the Affordable Care Act with the help of the Democratic-controlled Senate and President Obama.
Economist Tyler Cowen believes that income inequality in America is only increasing. His new book is called <em>Average Is Over: Powering America Beyond the Age of the Great Stagnation.</em>
Credit Szasz-Fabian Ilka Erika / iStockphoto.com
Tyler Cowen is a professor of economics at George Mason University. He is also the author of <em><em>The Great Stagnation</em>, An Economist Gets Lunch, Good and Plenty</em> and <em>Create Your Own Economy. </em>He blogs at <a href="http://marginalrevolution.com/">Marginal Revolution</a>.<em></em>
Economist Tyler Cowen has some advice for what to do about America's income inequality: Get used to it. In his latest book, Average Is Over, Cowen lays out his prediction for where the U.S. economy is heading, like it or not:
"I think we'll see a thinning out of the middle class," he tells NPR's Steve Inskeep. "We'll see a lot of individuals rising up to much greater wealth. And we'll also see more individuals clustering in a kind of lower-middle class existence."
The Connecticut State Colleges and Universities System is facing a significant budget deficit this fiscal year, and ConnSCU officials are hoping the state will step in and pick up most the tab.
ConnSCU governs 12 Connecticut's Community Colleges; Central, Eastern, Western and Southern Connecticut State Universities, and Charter Oak State College. The projected $18 to $20 million budget gap accounts for about two percent of ConnSCU's overall budget.
Originally published on Wed September 11, 2013 5:15 pm
When the global financial system started to collapse five years ago, leaders from the Treasury Department, Congress and the Federal Reserve jumped up and started running.
Like men on a burning wooden bridge, they raced along, making crazy-fast decisions. They seized Fannie Mae and Freddie Mac, bailed out big banks, saved automakers, slashed interest rates and funded a massive infrastructure-building project to stimulate growth.
University of Connecticut President Susan Herbst is defending raises that were recently awarded to two dozen top school administrators. The pay hikes, which range from $10,000 to more than $25,000, have raised eyebrows. They come at a time when the state is struggling to balance its budget.
Herbst said administrators’ salaries need to be competitive in a national labor market. "We have a study of what these different positions--deans, vice presidents--make around the country," she said on WNPR's Where We Live, "and I stay within that range to make sure our salaries are normative. But I will tell you that I will only hire great people."
In August, President Obama signed a bill preventing the doubling of interest rates on federal student loans for those entering college this year. Students borrowing the maximum amount this year will save about $4,600 in extra interest...but it’s a temporary fix.
The federal government runs out of money on Oct. 1, unless spending authority is granted to agencies for the new fiscal year. If Congress can't pass its spending bills by then, most of the government will shut down.
It's no empty threat. Many who watch the budget process closely think there's a very good chance that's exactly what's going to happen.
U.S. home prices continue to surge. The Standard & Poor’s/Case-Shiller index out today shows a 12 percent increase in May compared to a year ago.
Low interest rates and an improving job market are boosting demand for homes and driving prices up.
President Obama is out with a plan that he says will improve the job market even more. The president is touring an Amazon distribution center in Chattanooga, Tenn. to announce a so-called “grand bargain” to overhaul the corporate tax system.
Prosecutors said a large volume of evidence including electronic messages, court-ordered wiretaps and consensual recordings is stacked against a Connecticut-based hedge fund that pleaded not guilty Friday to criminal charges accusing it of letting insider trading flourish for more than a decade.
Assistant U.S. Attorney Antonia Apps told a federal judge in Manhattan that investigators had “voluminous” evidence against SAC Capital Advisors, a Stamford, Conn.-based firm owned by billionaire Steven A. Cohen.
Freshman U.S. Rep. Elizabeth Esty raised more than a quarter million dollars in the second quarter of 2013, bringing the 5th District Democrat's total campaign balance to nearly $400,000, according to her latest filing with the Federal Election Commission.
With a July 1 deadline looming, it seems unlikely that Congress will be able to stop interest rates on new federal student loans from doubling. But there may be time to address the situation before classes begin next fall.
About 7 ½ million students nationwide pay for a portion of their college tuition through subsidized Stafford Student loans. Right now, interest rates will go from 3.4% to 6.8% on July 1st.
"There is a window of opportunity for Congress to still act."
The backyard beekeepers now include a group of kids in Connecticut. An artist paints gorgeous, impressionistic scenes of World War II, including secret Nazi meetings that took place. There's lots of buzz about his work at the Sand Gallery in New York. And there's lots of buzz about the Connecticut Wannabess—kids into beekeeping and honey. And, if you're wondering about creating a trust and estate planning, we have a CPA who explains how it works and how you can avoid a probate mess.
The great recession drove many companies to look for sales overseas. A new survey of Connecticut companies shows that half of those responding said exports helped them weather the downturn. Now, domestic markets are looking up, but those firms still want to diversify across the world.
Hartford Mayor Pedro Segarra has made headlines recently for questionable city spending -- like dining on caviar at taxpayer expense. Now, it looks as though the city council is taking concrete action to push back. It's likely the council will reject Segarra's appointment for the city's chief operating officer.
When someone issues a controversial audit at 5:02 p.m. on a Friday, it's kind of sign that they don't want you to read it. That's what happened last week, when the city of Hartford released its internal audit of its credit cards.
As the region continues to recover in the aftermath of Superstorm Sandy, environmental advocates are pushing for rebuilding in a smarter way to protect against future storms. As WNPR’s Neena Satija reports, they gathered last week in a summit to discuss the future of Long Island Sound.
Controversy is heating up over a plan by the hedge fund Bridgewater Associates to move from Westport to Stamford - with the help of taxpayer dollars. But Stamford officials are under increasing pressure to get it done.
So, let’s say Where We Live was like the federal budget, and because of some self-imposed deadline, our show was subject to a “sequester” - A cut of 2.3%.
Well, you’d lose about 1 and a quarter minutes off the show. Doesn’t seem too bad, right? But what if it was completely arbitrary - cutting the first minute that explains what we’re talking about, or the precise moment our guest Bill Curry says something that might change your world. Doesn’t sound the the best way to trim things, huh?