THE WORLD READS WHITE PLAINS CITIZENETREPORTER — 8,324,077 VISITS IN ONE YEAR | 2,905,611 VISITORS VISIT 8,324,077 TIMES 3 TIMES EVERY DAY IN ONE YEAR. HIGHEST ACTIVITY IN WPCNR HISTORY.White PlainsCitizeNetReporter lifted its worldwide visits from unique visitors to wpcnr.com to 8,324,077,a 1,306,419 increase in visits in one year from 7,017,658 visits to the site last year which covers White Plains and Westchester County. The 8,324,077 visits were made by 2,005,611 unique visitors who visited wpcnr an average of 3 visits a day. ON JULY 20- -2026 visitors have accessed wpcnr and made 3,072 visits an average of 1.6 visits. In the last week 33,495 individual vistors made 54,458 visits, averaging 1.6 visits. In the last month, 152,940 visitors recorded 229,338 visits (1.5 visits)

Fortunoff Plans to Close White Plains Retail Icon: State Filing Shows

Posted on February 21, 2009 by John Bailey

WPCNR EAST SIDE STORY. Special to WPCNR. February 21, 2009: Fortunoff may be closing the White Plains landmark store on Maple Avenue and Bloomingdale Road by the end of the month, WPCNR has learned. The company announced its intentions to close the store in a notice of future layoffs to the State of New York. The store, if closed, will be leaving White Plains after being touted as one of Mayor Joseph Delfino’s greatest personal achievements of “The White Plains Renaissance.”

Fortunoff has Announced Plans to Close White Plains anchor store on Bloomingdale Road (shown above in the “salad days” of April, 2007) to the New York State Department of Labor.

AMERICA‘S FAVORITE MAYOR, Joseph Delfino, at the opening of the White Plains Fortunoff in September 2003. He congenially and emotionally told of his historic phone call to Louis Fortunoff, when the Mayor learned Saks Fifth Avenue was closing. “Lou, I’ve got the spot!” Mayor Delfino said that he promised Mr. Fortunoff, “If you say Yes, we’ll build it in 18 months, and we fell 2 days short of 15 months. When people work together, there isn’t anything you can’t do with government.” Mayor Delfino characterized Fortunoff at the time as “The Anchor” in the city’s beginning “Renaissance,” which he said would make White Plains “The Best Little City in the United States.” The Mayor predicted Fortunoff would generate $9 Million in new sales taxes, of which White Plains was anticipated to receive $2.5 Million a year. State documents and local sources report the store will be closing shortly. Photo from WPCNR News Archive

The Mayor lured Fortunoff former owner Louis Fortunoff to the city after many years of promoting White Plains as a Fortunoff location. Fortunoff raised the former Saks Fifth Avenue store, and built a new complex on the site opening it in September, 2003 about the same time as the City Center (opening October, 2003). The Fortunoff store is reported possibly closing after 5-1/2 years on the corner of Maple and Bloomingdale Road. The complex also houses the popular Cheesecake Factory, Whole Foods Market, and Morton’s The Steakhouse opposite The Westchester Mall across Maple Avenue. .

A WPCNR call to Fortunoff in White Plains asking if the store was planning to close was met by an associate’s comment, “We’re still doing business.” Asked if any sales were going on, they said “No.” The Fortunoff public relations contactperson could not be reached or a message left on the Fortunoff Voice Mail

NRDC Equity Partners was contacted by WPCNR, asking for comment on their relationship with Fortunoff and their plans for the White Plains store. The WPCNR call has not been returned as yet.

The firm, NRDC Equity Partners purchased Fortunoff in February, 2008, promising to build the chain into 50 stores nationwide.

According to bankruptcy documents, Fortunoff lost $42.2 Million on revenues of $260 Million in the second and third quarters of 2008 at its 20 stores in New York, New Jersey, Connecticut and Pennsylvania.

Rick Ammirato, the Executive Director of the White Plains Downtown Business Improvement District, or BID, asked if he was aware of a possible imminent closing of Fortunoff’s said he had no information that the White Plains store was closing.

The trade publication, National Jeweler of February 10, reports Fortunoff Fine Jewelry and Silverware LLC filed a WARN (Worker Adjustment and Retraining Notification) with the state in the first week of February, stating it intends to close the White Plains store. The report may be viewed at http://www.nationaljewelernetwork.com/njn/content_display/majors/financial-reporting/e3i6266a3e7e491921ce794b4026da2d787

A bankruptcy notice was filed Monday, February 9 by Fortunoff Fine Jewelry and Silverware LLC, and a judge approved an auction that will take place February 24 in Manhattan to auction off the chain fine jewelry and furniture assets. The filing for bankruptcy cited a liquidity crunch, poor holiday sales and softened consumer demand, and the financial crisis gripping the world.

State Launches Breakdown of NY “Stimulus” Package

Posted on February 20, 2009 by John Bailey

WPCNR ALBANY ROUNDS. From Don Hughes. February 20, 2009: Don Hughes alerts WPCNR that Governor David Paterson has launched a new website detailing how the “ObamaBucks” stimulus money will be spent in New York. The new site may be found at http://www.economicrecovery.ny.gov

The governor comments from the site:

On February 14, 2009, I was proud to announce that preliminary calculation suggested that New York State is expected to receive at least $24.6 Billion in aid from the American Recovery and Reinvestment Act of 2009. With New York State at the epicenter of a nationwide financial crisis these funds will help us weather the current storm and provide critical resources for investing in our future.

The influx for federal funds does not mean, however, that New York can abdicate our responsibility at the state level to bring spending in line with what our government can afford over the long term, We still have to address a $13 billion deficit next year and a multi-year deficit of over $48 billion. Most of these recovery funds will be spent within two years, in some instances, sooner. Therefore, this federal stimulus legislation does not in any way diminish the need to reevaluate our operations and produce a smarter, less costly, more efficient government, We will need to be smart and strategic as well as transparent in how we spend these federal dollars. Congress has rightfully put a premium on transparency and accountability and this website will serve as a conduit for the state’s role in promoting that transparency and accountability.

The pages of econonmicrecovery.ny.gov will help you track how we spend those dollars and provide resources to governments, organizations and other entities wishing to submit proposals for funding.

I encourage all New Yorkers to sign-up for updates and use this site to learn about the role New York State will play in making the American Reinvestment and Recovery Act a success.

The American Recovery and Reinvestment Act

The American Recovery and Reinvestment Act of 2009 was signed by President Barack Obama on February 17, 2009. This legislation provides a nearly $800 billion boost to the American Economy. Approximately $374 billion is for programs that directly impact our State and New York is expected to receive $24.6 billion of that funding. The programs include funding for Medicaid, Education, Infrastructure and “shovel-ready” projects throughout New York State. Learn More…

The New York State Economic Recovery and Reinvestment Cabinet

The New York State Economic Recovery and Reinvestment Cabinet was created by Governor David A. Paterson to manage the development of State and local infrastructure projects financed through the federal American Recovery and Reinvestment Act. It serves as a command center for ensuring cross-agency coordination and broad regional representation and helps municipalities and other New York-based entities secure federal Recovery and Reinvestment dollars. Learn

City Projects It is Running $11 Million Behind in Revenues

Posted on February 19, 2009 by John Bailey

WPCNR COMMON COUNCIL CHRONICLE-EXAMINER. Special to WPCNR. February 19, 2009: Commissioner of Finance Gina Cuneo-Harwood painted a bleak picture to the Common Council of the city budget eight months into the current fiscal year. She presented fiscal scenarios indicating that the city is currently running a projected $11 Million behind on the current 2008-2009 budget.

According to WPCNR’s correspondent, Harwood projections estimated about a $4 Million shortfall in the sales tax at the present rate, a $1.9 Million shortfall in Mortgage Tax Collections, $2 Million behind in Building Permits; a $2 Million loss of the payment this year for the land where 55 Bank Street affordable housing towers were to be built, and the city is $800,000 behind in parking fines and permits collections for a rough total of $11 Million.

No reports on union negotiations were provided, and according to first reports no details on the Mayor’s budget cuts were provided. Previously it has been indicated by Paul Wood, City Executive Officer, that the city might have to use undesignated fund balance to balance this year’s budget if the present trends continue, and if the sales tax stream does not pick up.

The meeting was highlighted by a series of sharp, heated exchanges between Mayor Joseph Delfino, Councilman Benjamin Boykin and Councilman Tom Roach over the Mayor’s assertion the city would not be in such a situation of the council had not rejected the extra ¼ % sales tax the Mayor suggested last year. Had that 1/4% been in effect the last six months of last year the city would have ran more of a surplus.

The Civil Service Employees Association reportedly urged the council seek to raise the city sales tax portion another 1/4%.

Veteran White Plains Investor Calls for Moratorium on Negative Wall Street Trade

Posted on February 19, 2009 by John Bailey

WPCNR MAIN STREET JOURNAL. February 19, 2009: Jim Benerofe, lifelong fixture of the White Plains business community, founder and publisher of Suburban Street, veteran angel of Broadway, real estate investor in a commentary on his website, suburbanstreet.com has called for a rethinking of the stock market. Benerofe sketches his proposal in an editorial entitled “No More Financial Nonsense” on his website at http://www.suburbanstreet.com/editorial.html

Jim Benerofe of suburban Street, and co-anchor of WHITE PLAINS WEEK

Benerofe’s commentary notes that the public is never going to regain the confidence to spend again and buy if they are held enthralled and in fear of the volatility in the stock market, caused, in his opinion by instant fortune-chasers and large institutions manipulating the markets for short-term profits through short selling and manipulated trading. He instead calls for bans of recently established practices that have, in his opinion, have contributed and driven the market down.