Latest news with #DiNapoli
Yahoo
12-05-2025
- Sport
- Yahoo
Boardman record breaker commits to college ranks
BOARDMAN, Ohio (WKBN) — Boardman senior Gina DiNapoli officially signed to continue her swimming career at Clarion University. DiNapoli is a four-year letter winner and senior captain for the Spartans. She has qualified for the OHSAA Division I State meet each of the past three seasons. In addition, she is a four-time NEAC All-Star, a four-time AAC 1st Team Swimmer, and a four-time District Qualifier in Division 1. DiNapoli holds Boardman's school records in the 100 Butterfly, 200 Medley Relay and 200 Free Relay. 'Since the age of 5 and until her very last high school race this past February, it has been nothing short of an honor to have been her coach,' head coach Carlo Cordon said. 'Now, we are excited to see Gina taking her talents to Clarion University. Whether it was swimming any event we put her in, or the leadership skills that she possessed, Gina helped lead the way to Boardman's first undefeated season in its 39 year history,' he 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
01-05-2025
- Business
- Yahoo
Food prices in NYC soared over last decade, outpacing income growth
Food prices continue to soar in the Big Apple, with more New Yorkers facing the risk of going hungry — a situation that could worsen amid federal funding cuts and the implementation of tariffs, according to a new report. Over the past decade, the cost of dining out or eating in has risen by more than 56% in the New York City metropolitan area — approximately 10% higher than the national average — according to a report on the cost of living in the city released Thursday by state Comptroller Thomas DiNapoli. By comparison, the average annual pretax income in the region only grew approximately 52% during that same period, between 2012–2013 and 2022–2023, according to the most recent available data from the U.S. Bureau of Labor Statistics. The report also found that food prices in the five boroughs, Long Island, and surrounding counties have jumped more than 25% since 2019, with low-income households now spending significantly more on food than before the pandemic. In 2022–2023, households in the New York City metropolitan area spent about $11,288 annually on food, accounting for 12.5% of their total expenses — the fourth-largest portion of household spending. Nationally, food spending averaged $9,664 per year, making up 12.9% of total household expenditures and ranking as the third-largest share. Over that same period, households in the city earning less than $15,000 spent nearly 70% of their income on food — a 16-point increase in just four years, compared with a mere 0.7-point rise for households earning $200,000 or more. 'My office is closely monitoring the factors driving affordability issues in the city and state, and it is clear that higher food costs are putting pressure on household budgets in New York City, with price increases outpacing income growth,' DiNapoli said. While food price growth in New York City slowed between 2023 and 2024 — with a 1.8% increase in the city's food price index compared with the nation's 2.3% growth — recent sharp increases have still left many lower-income households struggling to afford groceries, even as inflation concerns have eased. From 2021 to 2022, the city's food price index surged by 8.8%, marking the highest increase in over 40 years. 'Food prices rose sharply during the pandemic, putting more New Yorkers at risk of going hungry,' DiNapoli said. 'Now the implementation of tariffs and potential cuts to federal food and other support programs may exacerbate the problem.' Last month, a new poll commissioned by the nonprofit No Kid Hungry New York found that 53% of New Yorkers have taken on additional debt in the past 12 months as they struggle to feed their families, with Black and Hispanic New Yorkers — and especially women of color — being hit the hardest.
Yahoo
24-04-2025
- Business
- Yahoo
Editorial: New York is Uncle Sam's piggy bank — Tom DiNapoli shows the state/federal balance of payments
Thank you to state Comptroller Tom DiNapoli for publishing an analysis of the balance of payments between the 50 states and the federal government. This is his ninth annual review, continuing a tradition that began when Pat Moynihan first arrived in the U.S. Senate in 1977 and that Moynihan kept up for all his 24 years of service. Moynihan, always the professor, called his report the 'fisc.' While the word 'fisc' was archaic (look it up and learn something), the purpose was, and remains, cutting edge: How much does each state pay into the U.S. treasury in total taxes and how much government spending does each state receive from Uncle Sam? Thus there are surplus states and deficit states, or recipient states and donor states and, of course, it does not balance to zero since the U.S. government annually runs hundreds of billions in the red. Getting the most back from the federal government are the poorest states like Mississippi and West Virginia, which makes sense since they need the most assistance. At the other end are the richest ones like New York, Massachusetts and Washington State paying for that assistance. The other factor than poverty is government spending, so Virginia is a big surplus state being loaded with federal facilities like the Pentagon and No. 1 on the DiNapoli's list is New Mexico, which has the Sandia National Laboratories and the Los Alamos National Laboratory, both funded with billions from the feds every year. On that scale, New York also comes up short, with many fewer per capita federal employees and at the bottom for federal highway expenditures. Which is why for decades New York has been one of the biggest donor states, sending more money each year to Washington than we got back. What temporarily changed that was COVID, as the Congress sent out billions to state and local governments and businesses and individuals when the pandemic began in 2020 in order to keep people afloat and prevent the economy from collapsing as the virus tore through the country, killing more than a million Americans. DiNapoli's report finds that during the last four years, due to all those COVID dollars, New York was a surplus state, but that is ending. Yet even being on the plus side was not by much, as for every tax dollar remitted to feds from New Yorkers in fiscal year 2023, New York got back $1.06 in return, but the national average was $1.32. Now comes what could be the next disaster putting New York into even more of a negative balance than before COVID, as DiNapoli warns: 'Actions taken by the Trump administration and Congress may cut health care, food assistance, infrastructure and other critical programs to the detriment of all New Yorkers.' He continued, saying that 'will exacerbate the long-standing history of New Yorkers sending more of their hard-earned tax dollars to the federal government than they get back.' For two dozen years, Moynihan showed that New York was carrying much more of the federal weight than other states. The numbers told the truth, even as politicians from elsewhere complained about New York getting too big of a share. The facts, now collected by DiNapoli, are that New York gets a small slice of the pie. ___
Forbes
26-03-2025
- Business
- Forbes
Wall Street Banker Bonuses Surged 31% In 2024—Here's How Much They Made
Wall Street bankers saw their bonuses rise more than 30% last year, according to a Wednesday statement from New York State Comptroller Thomas DiNapoli, contributing to a record high bonus pool lifted by a strong performance from Wall Street in 2024. DiNapoli's report was published Wednesday. (Photo by STAN HONDA/AFP via Getty Images) Average bonuses within New York City's securities industry jumped 31.5% to $244,700 last year, according to an annual estimate from DiNapoli. The total estimated bonus pool reached a whopping $47.5 billion as dealmaking surged last year, marking a 34% increase from 2023 and the largest amount on record since 1987. The rise in bonuses came as Wall Street's profits rose 90% last year, coinciding with a record year for the S&P 500, Nasdaq and several tech stocks including Nvidia and Palantir. Securities employment also reached its highest annual level in at least 30 years, DiNapoli said, adding there were 201,500 employees in 2024, up from 198,400 in the previous year. DiNapoli estimated last year's bonuses will create $600 million more in state income tax revenue and an increase of $275 million for New York City from 2023. Get Forbes Breaking News Text Alerts: We're launching text message alerts so you'll always know the biggest stories shaping the day's headlines. Text 'Alerts' to (201) 335-0739 or sign up here. $49.9 billion. That is the profit made by Wall Street last year, a major increase from 2023's $26.3 billion in profits. The spike still does not match profits seen in the midst of the COVID-19 pandemic, when Wall Street raked in $50.9 billion in 2020 and $58.4 billion in 2021. Analysts make around $160,000 to $210,000 per year after bonuses, according to a Mergers and Inquisitions analysis, which notes associates bring in anywhere from $275,000 to $475,000 per year after bonuses. 2024 was a banner year for stocks, with the Nasdaq, which reached an all-time high, surging 28.6% and the S&P 500 rising 23.3%. Last year marked the second consecutive year the S&P 500 jumped more than 20%, according to Charles Schwab, which said the milestone had not been reached since the late 1990s. Last year also included record benchmarks for tech stocks, with AI chip designer Nvidia surging 171% in 2024 and AI defense contractor Palantir becoming the S&P 500's best performing stock. Nasdaq Rises To All-Time High—Hitting 20,000 For First Time (Forbes) This AI Company Is The S&P 500's Best Performing Stock Of 2024 (Hint: It's Not Nvidia) (Forbes)
Yahoo
26-03-2025
- Business
- Yahoo
Wall Street bonuses jump 32% as total surges to record, NY comptroller says
By Saeed Azhar NEW YORK (Reuters) - Wall Street banker bonuses rose 31.5% to an average $244,700 last year as dealmaking rebounded, but the boom times may wane as economic uncertainty rises, New York State Comptroller Thomas DiNapoli said on Wednesday. Deals have slowed this quarter as companies navigate changing policies from President Donald Trump's administration, including tariffs and personnel changes atop regulatory agencies. "This financial market strength is good news for New York's economy and our fiscal position, which relies on the tax revenue it generates," DiNapoli said in a statement. "However, increasing uncertainty in the economy amid significant federal policy changes may dampen the outlook." The changes come after a bumper year in which the bonus pool for employees in New York City's securities industry surged to a record $47.5 billion for 2024, the highest in records dating back to 1987, the estimates showed. As the world's top financial center, one in every 11 jobs in the city is either directly or indirectly associated with the securities industry, the comptroller estimated. Wall Street's biggest banks reported rising investment banking fees last year, fueled by more deals and corporate debt issuance. After profits rose 90% in 2024, the latest bonus data reflected the first major increase since banks reaped a windfall in the wake of the COVID-19 pandemic. Employment in the securities industry in 2024 reached its highest level in at least three decades, to 201,500 employees, up from 198,400 a year earlier. The 2024 bonuses will generate $600 million more in state income tax revenue and $275 million more for the city compared with 2023, according to estimates from DiNapoli. Sign in to access your portfolio
