GOVERNOR CUOMO INKS 21ST CENTURY LAGUARDIA AIRPORT UPGRADE READY IN 2022.

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WOW! CUOMO’S LAGUARDIA–TO OPEN BY THE END OF 2021. THE DEAL WAS SIGNED WEDNESDAY.

WPCNR ALBANY ROUNDS. From Governor Andrew Cuomo’s Office. June 1, 1016:

Wednesday afternoon, Governor Andrew M. Cuomo announced that the Port Authority of New York and New Jersey executed a 35-year lease agreement and reached financial close with LaGuardia Gateway Partners on the transformational redevelopment of LaGuardia Airport.

The announcement marks a major milestone for the renowned project, with construction on the new 35-gate Terminal B expected to begin shortly. New facilities will begin to open to the public in 2018, with all portions of the new Terminal B slated to open by the end of 2021.

A rush transcript of the Governor’s remarks is below:

Hello and good afternoon. I think these gentlemen and the teams that have worked with them deserve a round of applause because this is a really big deal and it is a great job. This is an exciting day and it is a long time coming. It has been a lot of hard work that has gone into getting us to this point but we will actually be starting construction on a new LaGuardia Airport, an entirely new LaGuardia Airport that is long overdue and is essential for New York.

Airports are not what they were at one time. Big business for this state is tourism, airports are essential, for commerce airports are essential, just for convenience of the citizens airports are essential.

If you look at the airports around the world it is clear that New York has been left behind, that many on the great international airports are better, more sophisticated than New York’s airports. LaGuardia and Kennedy are the front door for New York to the world. LaGuardia especially, Kennedy needs improvement and we are working on that but LaGuardia especially, it has been unacceptable for a very long period of time.

Vice President Biden, God bless him, has a way of speaking frankly and he made that point when he said if you were blindfolded and you landed in LaGuardia airport you would think that you landed in a third world country. Not the most tactful statement but he made the point and he was right and anyone who has been using LaGuardia for the past ten or twenty years knows that it is not what it needs to be and it is certainly not of New York Quality. So the plan was, let’s do it right. Let’s do it from the ground up and let’s build a whole new airport. Not rebuilding what was, we are not repairing what was, this is virtually, blank slate, building new and it is a really overdue but exciting opportunity.

So to Pat Foye the executive director has done a magnificent job shepherding it through, the chairman John Degnan of the Port Authority, LGP Partners, Delta Airlines, Rick Cotton, Dan Tishman and so many people who have worked long and hard to get us here today.

Why hadn’t we done it before? Well it is hard to build an airport, you know? It is expensive and it is complicated and it is technical. This is going to be the first new airport since the Denver airport built twenty years ago. So it is difficult and I think especially in New York, somewhere over the past couple of decades New York lost part of its governmental ambition right?

This is a public sector job, this is a public sector project. We are doing it in partnership so it is a private sector partnership as Pat mentioned the largest in the country but it is complicated and it is tough and we lost our appetite for big and complicated, difficult public works. I have been working very hard to regain that ambition because you need to. You need to continue to build and grow, otherwise other places will pass you by.

You look at New York, what makes New York, New York? We always did the impossible, we always did the first, we always did the ambitious. We were always a step ahead and there was nothing that we couldn’t do. That was our attitude that is the New York ethics and the New York way, some call it the New York arrogance. But we made the greatest city, the greatest state on the planet and we have to keep that energy and that positivism and rebuilding infrastructure and staying ahead of the curve on infrastructure is essential. 


Airports, trains and bridges and we are doing it all across the board. LaGuardia airport, we are working now on the redesign of Kennedy airport. We are working on a new Penn station, Penn Farley complex, we are working on adding a third rail track to the Long Island Railroad coming in from Long Island. Eastside access, large scale capital projects to make sure New York stays New York and New York leads the other states and the other countries in making sure we have state of the art facilities.

Again I know how long and hard these gentlemen have worked and now the work really just begins I want you to know, the shovel will literally go into the ground and then we are going to do a ceremonial groundbreaking to celebrate the moment. It is exciting and it is a new day for New York.

As a Queen’s boy who was born and raised this gives me a special pleasure that Queen’s is going to get a new airport but this is really New York’s airport and this is going to be state of the art and it is going to be better than anything out there and it is going to be the airport that New York State deserves. So well done and congratulations to all.

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Former Corporation Counsel of White Plains Memorial Service

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WPCNR MILESTONES. June 1, 2016:

A Memorial Service is being held Wednesday morning observing the death of Charles A. Bradley III of Briarcliff Manor, an attorney and former Corporation Counsel of the City of White Plains,  who devoted much of his career to public service in municipal and state governance, died at home on May 23, 2016 after a long illness.

He was 82. Born in Boston, MA and raised in Corning. N.Y., he was a graduate of Phillips Academy (Andover), Williams College, and the University of Virginia Law School.He was admitted to the New York State Bar in 1958 and joined a law firm in Elmira, N. Y., also serving as Justice of the Peace for two years, followed by service as Town Attorney and then as Town Supervisor for six years. He was appointed Chemung County assistant district attorney and was appointed to the staff of the Attorney General of New York State to serve on the Organized Crime Task Force created by Governor Nelson Rockefeller. He was assigned as a Special Assistant Attorney General in the investigation of the Attica prison riot in 1971. Following that assignment, he joined the staff of the Attorney General’s office in New York City where he represented a host of state agencies in state and federal courts.

Bradley resigned from the Attorney General’s office to become Corporation Counsel for the City of White Plains in 1979. In that post, he won significant cases on the City’s behalf. He was a member of the Westchester County Bar Association and once assisted with its continuing education program.

He retired as Corporation Counsel in 1985 and returned to private practice for several years. In 2001 he served as Acting Village Manager of Briarcliff Manor where he was responsible for overseeing the completion of the renovation of Law Park.

In retirement, he served with avid interest and great enthusiasm for more than a decade as a docent at Kykuit, the Rockefeller Estate in Sleepy Hollow, and as a part-time archivist at the Rockefeller Archive Center.

Bradley was predeceased by his parents, Katherine Rose Bradley and Charles A. Bradley Jr. and a twin brother, William Edward Bradley, all of Corning, NY; he was also predeceased by two brothers in law.

His survivors include his beloved wife of 34 years, Eileen Oakley Bradley, and daughter Jennifer C. Earl of Briarcliff Manor; daughters Margaret Bradley Van Orman and her husband of Stroudsburg, PA and Katherine Bradley Irwin and her husband of Mouth of Wilson, VA, son Charles A. Bradley IV and his wife of Virginia Beach, VA; and sister Susan Bradley Lee of Buffalo, NY and brother Peter Bradley and his wife of Saint Paul, MN. He is also survived by five grandchildren and two nieces and two nephews. In addition, he is survived by his mother in law, five sisters in law, four brothers in law and their children and grandchildren.

Charley greatly enjoyed and valued the time he spent with all members of his family, his friends and his colleagues. His keen intelligence, wit and sense of humor will be missed by all.The family wishes to extend special thanks to members of his care team, especially Happerline, Cecilia, Jesse and Luanna, as well as the staff at Phelps Hospice. In lieu of flowers, donations to Phelps Hospice or Historic Hudson Valley/Kykuit would be greatly appreciated.

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Investment Bank Director Charged with Insider Trading on 10 Mergers His Bank Handled.

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WPCNR FBI WIRE. Special to WPCNR  From the Federal Bureau of Investigation. May 31, 2016:

Preet Bharara, the United States Attorney for the Southern District of New York, and Diego Rodriguez, the Assistant Director-in-Charge of the New York Field Office of the Federal Bureau of Investigation (“FBI”), announced the arrest of STEVEN MCCLATCHEY, a director at an investment bank in Manhattan (the “Investment Bank”), on charges of participating in a scheme to commit insider trading in connection with potential mergers and acquisitions (“M&A”) in which the Investment Bank was involved.  In addition, charges against GARY PUSEY were unsealed.  PUSEY pled guilty and admitted to his participation in the scheme last week.

MCCLATCHEY was arrested this morning in Long Island, New York, and was to be presented this afternoon in Manhattan federal court before U.S. Magistrate Judge Kevin Nathaniel Fox.  On Friday, May 27, 2016, PUSEY pled guilty before U.S. District Judge Katherine Polk Failla to conspiracy, securities fraud, and wire fraud.

In a separate action, the Securities and Exchange Commission (“SEC”) filed civil charges against MCCLATCHEY and PUSEY.

U.S. Attorney Preet Bharara said:

“Insider trading continues to tarnish our securities markets.  As alleged, Steven McClatchey abused his position at a major investment bank, feeding sensitive information about mergers and acquisitions to his close friend, Gary Pusey, who in turn traded on that material, nonpublic information.

McClatchey did not tip Pusey for free, allegedly receiving cash kickbacks and home renovations from Pusey in exchange.  A free and fair marketplace is what securities investors deserve and is what we seek to enforce through prosecutions like this one.”

FBI Assistant Director-in-Charge Diego Rodriguez said:

“As alleged, Steven McClatchey violated his confidentiality duty at an investment bank when he shared insider material information with his boat dock buddy, Gary Pusey, who ultimately used the information to make trades.  McClatchey allegedly benefited from thousands of dollars cash payments and home repairs.  Investing in our markets should be fair to all investors with equal access to information, not boat-side chats that give certain investors advantage.  The FBI will continue to work with our partners to ensure our markets are fair and equitable to all.”

According to the allegations in the charging documents unsealed today in Manhattan federal court, including the Complaint and Information, and statements made in court proceedings[1]:

MCCLATCHEY, who had served as a director at the Investment Bank since at least 2008, routinely possessed material, nonpublic information (“Inside Information”) concerning pending mergers and acquisitions in which the Investment Bank was involved.  Indeed, among MCCLATCHEY’s responsibilities at the Investment Bank was the tracking of the status of all such pending transactions and the likely date on which such transactions would be publicly announced.  MCCLATCHEY breached his duty of confidentiality to the Investment Bank and to its clients by providing Inside Information about pending M&A transactions to his close friend, PUSEY.  PUSEY, in turn, used the Inside Information to execute profitable securities trades ahead of at least 10 separate M&A announcements.

Specifically, from February 2014 through September 2015, MCCLATCHEY and PUSEY participated in a scheme to commit insider trading in advance of and in connection with more than 10 separate mergers and acquisitions.  MCCLATCHEY and PUSEY were close friends who owned boats docked in a Long Island marina and who spent most Saturdays on their boats, at the marina, or playing pool and watching sports.

MCCLATCHEY learned about the deals as part of his employment with the Investment Bank, which generally advised either (i) the company to be acquired in the transaction; (ii) the acquiring company; or (iii) a company which ultimately lost a bid to acquire the company involved in the transaction.

Having learned the Inside Information about these impending transactions, MCCLATCHEY, in breach of fiduciary duties and other duties of trust and confidence owed to the Investment Bank and its clients, tipped PUSEY so that PUSEY could use the information to trade and with the expectation that PUSEY would confer a benefit upon MCCLATCHEY.  Among the benefits that MCCLATCHEY received as part of the insider trading scheme were thousands of dollars of cash payments by PUSEY and the provision of home renovation services.

PUSEY used the Inside Information that he received from MCCLATCHEY to make profitable trades in, among other securities: Forest Oil Corporation, Questcor Pharmaceuticals, Inc., Zygo Corporation, Pepco Holdings, Inc., Measurement Specialties, Inc., Entropic Communications, Inc., PetSmart, Inc., Emulex Corporation, Omnicare, Inc., and TECO Energy, Inc.  PUSEY reaped approximately $76,000 in ill-gotten gains from this scheme.

*                *                *

MCCLATCHEY, 58, of Long Island, New York, is charged with one count of conspiracy to commit securities and wire fraud, which carries a maximum sentence of 25 years in prison; one count of wire fraud, which carries a maximum sentence of 20 years in prison; and 11 counts of securities fraud, each carrying a maximum sentence of 25 years in prison. The charges also carry a maximum fine of $5 million, or twice the gross gain or loss from the offense.

On May 30, 2016, PUSEY, 47, of Long Island, New York, pled guilty to one count of conspiracy to commit securities and wire fraud, which carries a maximum sentence of 25 years in prison; one count of wire fraud, which carries a maximum sentence of 20 years in prison; and 11 counts of securities fraud, each carrying a maximum sentence of 25 years in prison. The charges also carry a maximum fine of $5 million, or twice the gross gain or loss from the offense.

The maximum potential sentences in this case are prescribed by Congress and are provided here for informational purposes only, as any sentences for the defendants will be determined by the judge.

Mr. Bharara praised the work of the FBI, and thanked the SEC.

The charges were brought in connection with the President’s Financial Fraud Enforcement Task Force.  The task force was established to wage an aggressive, coordinated and proactive effort to investigate and prosecute financial crimes.  With more than 20 federal agencies, 94 U.S. attorneys’ offices, and state and local partners, it is the broadest coalition of law enforcement, investigatory and regulatory agencies ever assembled to combat fraud.  Since its formation, the task force has made great strides in facilitating increased investigation and prosecution of financial crimes; enhancing coordination and cooperation among federal, state and local authorities; addressing discrimination in the lending and financial markets; and conducting outreach to the public, victims, financial institutions and other organizations.  Since fiscal year 2009, the Justice Department has filed over 18,000 financial fraud cases against more than 25,000 defendants.  For more information on the task force, please visit www.StopFraud.gov.

This case is being handled by the Office’s Securities and Commodities Fraud Task Force.  Assistant U.S. Attorney Rebecca Mermelstein is in charge of the prosecution.

The allegations contained in the Complaint are merely accusations, and the defendant is presumed innocent unless and until proven guilty.

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DOWNTOWN MUSIC PRESENTS 10th ANNIVERSARY CONCERT OF WHITE PLAINS OWN PERFORMERS’ PERFORMERS “THE DOWNTOWN SINFONIETTA” AT GRACE CHURCH NOON ON WEDNESDAY

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WPCNR LIVE AT NOON. From Downtown Music at Grace. May 31, 2016:
The local all-star performers from some of the greatest performing organizations in the world, known as “The Downtown Sinfonietta” will celebrate its 10th Anniversary Wednesday since it was created in 2006 by Timothy Lewis, the founder and Artistic Director of our Downtown Music at Grace concert series.
His vision was to have a resident chamber orchestra in place that would supplement and enhance the very successful Wednesday Noonday Getaway Concerts that began in White Plains in 1988.
Tim approached Vincent Lionti, a frequent viola recitalist at the church, about forming a small orchestra from his colleagues at the Metropolitan Opera Orchestra in a similar way that the venerable downtown London church in Trafalgar Square, St. Martin-in-the Fields, had started an ensemble in England. Downtown Sinfonietta’s Inaugural Concert took place on May 11, 2006 in the Grand Banking Room at the Arts Exchange in White Plains.
The program included music by Tchaikovsky, Grieg, Dvorak, Sibelius, Percy Grainger (a longtime White Plains resident) and a World Premiere by the Westchester composer Dalmazio Santini. The Sinfonietta has performed a total of 69 works by 36 different composers in 19 concerts (including today’s concert).
The Sinfonietta has close affiliations and collaborations with the Downtown Music Chorus, the Stecher and Horowitz Piano Foundation, narrator Robert Sherman, and has given two World Premieres. Most of Downtown Sinfonietta’s performances have been recorded by Downtown Music’s master sound engineer and producer, Rocco Bueti.
Downtown Sinfonietta marks the Tenth Anniversary Wednesday by performing (appropriately) Franz Joseph Haydn’s Symphony No. 10, as well as its first appearance on the Wednesday Noonday Getaway Concert Series.
The Downtown Sinfonietta
Yurika Mok, violin                    Metropolitan Opera Orchestra
Derek Ratzenboeck, violin         New York City Ballet Orchestra
Shenghua (Simon) Hu, violin    Metropolitan Opera Orchestra
Yuko Naito, violin                     St. Louis Symphony Orchestra
Mary Hammann, viola               Metropolitan Opera Orchestra
Chihiro Fukuda, viola               Metropolitan Opera Orchestra
David Heiss, violoncello            Metropolitan Opera Orchestra
David Calhoun, violoncello       Metropolitan Opera Orchestra
David Romano, contrabasso      American Ballet Theatre Orchestra
Hsuan-Fong Chen, oboe            New York Philharmonic
Phillip Rashkin, oboe                Chelsea Symphony Orchestra
Katie Jordan, horn                     Sarasota Orchestra
Jasmine Lavariega, horn            The Juilliard School
Downtown Music at Grace concerts will resume
after Labor Day in September. 

Please look for our twenty-ninth season announcement in August.

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