Latest news with #Tilson
New York Post
4 days ago
- Politics
- New York Post
Financier Whitney Tilson seems to take a page out of socialist Zohran Mamdani's book by floating free subways: ‘Rip out the turnstiles'
Former hedge fund manager Whitney Tilson became the latest New York City mayoral candidate to veer left Thursday — taking a page out of Democratic socialist Zohran Mamdani's book by saying all public transit should be free. Tilson, known as a conservative-leaning Democrat, shockingly even floated 'ripping out all the subway turnstiles' as an experiment during a press conference where he revealed he's a proponent of free subways and buses. His comments — which mirrored Mamdani's plan to make riding on city buses free — came despite the financier spending much of the campaign attacking the Queens Assemblyman over his far-left policies, including during the first primary debate Wednesday night. Advertisement 3 Mayoral Candidate Whitney Tilson, mirrored opponent Zohran Mamdani's plans for free buses at a press conference Thursday. Stephen Yang 'I'm willing to speak out about him (Mamdani) because he is a radical, dangerous socialist who will ruin the city if he's elected,' Tilson said outside City Hall Thursday. But when the businessman was asked by The Post whether he agreed with any of Mamdani's policies — he had a surprising outlook on subsidizing busses and subways. Advertisement The Harvard-educated investor said he liked Mamdani's free bus trial, and suggested taking it a step further to include subways. 'Actually, I've been exploring the numbers to see if we can get enough cost savings —to experiment with making a handful of our 478 subway stations rip out the turnstiles,' he said, adding, 'in a few very low-income communities where probably half the people are jumping the turnstiles anyway.' 3 Tilson, a former hedge fund manager, arrived to the first mayoral primary debate Wednesday night via school bus. Stephen Yang The stunning assertion led reporters to ask him to clarify — prompting Tilson to backpedal slightly. Advertisement He stressed that what he was proposing would be an 'experiment,' adding, 'let's call it half a dozen or a dozen subways.' Tilson's leftist stance on transit seemed to contradict his relentless concerns with Mamdani's policies, like rent-freezing and taxing the 1%. 3 Though Tilson tried to hit Mamdani with a few jabs, ex-Gov. Andrew Cuomo took the most heat at Wednesday's debate. via REUTERS Advertisement However, he did say he would possibly have to cut the city budget if elected mayor — following in the footsteps of Mike Bloomberg. 'I am worried that with the insane Trump tariffs,' said Tilson, who is currently polling 1%. 'We could be in for some tough economic times.'
Miami Herald
30-05-2025
- Business
- Miami Herald
Another major internet company files for Chapter 11 bankruptcy
Major technology companies, facing financial distress, have been seeking bankruptcy protection in recent months. Many of these companies are dealing with the same financial problems that retailers, restaurants, manufacturers, and service providers are suffering from, including rising costs of labor and products driven by inflation, increased interest rates on their debt, and consumers' changing attitudes in paying for services. Don't miss the move: Subscribe to TheStreet's free daily newsletter Most of these companies have blamed unsustainable debt obligations and industry headwinds as the primary reasons for their economic problems. Related: Major internet company files for Chapter 11 bankruptcy Debtors have also said that they filed for bankruptcy either after defaulting on their debt obligations or to prevent them from defaulting on their debt. Struggling business internet provider Everstream Solutions LLC is one of the tech companies that filed for Chapter 11 bankruptcy protection, facing a potential default on over $1 billion in prepetition credit agreements. The company, which filed its petition on May 28, is hoping to sell its assets in a bankruptcy auction. In April, banking-as-a-service start-up, Solid, which at one time called itself the Amazon Web Services of fintech, filed for Chapter 11 protection in Delaware after failing to secure an additional round of funding. Semiconductor supplier Wolfspeed has not yet filed for bankruptcy, but it is reportedly considering filing for bankruptcy, sources familiar with the matter told the Wall Street Journal on May 20. The Durham, N.C., tech company is pursuing a prepackaged Chapter 11 plan in the coming weeks after out-of-court debt restructuring attempts failed. And now, another major company that supports internet services is filing for bankruptcy. Tilson Technology Management, a national leader in the installation of fiber solutions and infrastructure for internet services, has filed for Chapter 11 bankruptcy protection, seeking a sale of its assets. The Portland, Maine, debtor and two affiliates filed their petition on May 29 in the U.S. Bankruptcy Court for the District of Delaware, listing about $223 million in debt, according to a declaration by Chief Restructuring Officer Richard Arrowsmith. Related: Huge trucking company files for Chapter 11 bankruptcy Tilson, whose affiliate Boundless Broadband is listed as the lead debtor in the case, is seeking $37.5 million in debtor-in-possession financing with $15 million available on interim order approval. "For nearly 20 years, Tilson has helped clients tackle their most difficult information and communications infrastructure challenges," Tilson CEO Darrell Ingram said in a statement. "Our core business is strong, but we need to reset after one client's failure to manage its relationships with its host communities and pay us for the work we performed materially changed our revenue expectations," Ingram said. "The steps we are taking today represent a new beginning, not an end. We are fortunate that our lenders continue to believe in our business and support us financially, so we can overcome this setback and create a strong financial future for our company," he said. More bankruptcy: Iconic auto repair chain franchise files Chapter 11 bankruptcyPopular beer brand closes down and files Chapter 7 bankruptcyPopular vodka and gin brand files for Chapter 11 bankruptcy Tilson Technology Management plans to file a bidding procedures motion for a sale of all of its assets by June 13, a stalking-horse bid motion by June 25, receive approval of its bidding procedures by Aug. 1, approve a sale order by Sept. 19, and close the sale by Sept. 26, according to the declaration The debtor's financial problems began after it in 2022 contracted with Gigapower, an entity owned by Blackrock and AT&T, to design and build its fiber networks in Las Vegas and in Gilbert and Chandler, Ariz. Tilson Technology Management alleged in court papers that Gigapower failed to deliver on all of the terms it had negotiated to address cashflow risks, failed to devote sufficient resources to community communication and management of jurisdiction-imposed costs, and delayed, withheld and reduced payments without contractual basis. The debtor alleged that a series of actions by Gigapower led to its bankruptcy filing, including withholding all payments to Tilson in March 2025 without a reasoned explanation. Gigapower also withheld consent in March 2025 to resume construction in Las Vegas for a month before scheduling meetings with the city to resume construction; and terminated all construction in Gilbert not in progress and suspended engineering work on March 28, 2025. It also terminated all remaining construction work in Las Vegas and Chandler on April 29, 2025. Related: Troubled radio station company files for Chapter 15 bankruptcy The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Yahoo
18-03-2025
- Business
- Yahoo
With her mayoral campaign in the red, Jessica Ramos brings on campaign head fired by rival candidate
Progressive mayoral hopeful Jessica Ramos, whose campaign is in financial dire straits amid flagging fundraising, hired a new campaign manager this week who was recently fired as a top aide to one of her opponents, the Daily News has learned. Trivette Knowles, a veteran New York political consultant, started his new job as campaign manager for Ramos, a Queens state senator, on Tuesday, he confirmed. Ramos' new hire comes after fellow mayoral candidate Whitney Tilson terminated Knowles as his campaign manager earlier this month in a staff purge that resulted in the axing of at least six other aides and a fundraising consultant. The ousters from Tilson's camp — first reported earlier this month by The News and Politico — came after Knowles and other staffers reportedly threatened to quit over concerns that Tilson, an ex-hedge fund manager, was letting his friends in finance have too much say over his policy platform, especially on law enforcement matters. 'Senator Ramos is an accomplished legislator who consistently stands her ground for progressive values,' Knowles said in a statement on his decision to become her campaign manager. 'She spends every day fighting for working-class New Yorkers, and I am excited to join her in this fight.' Knowles replaces consultant Katie Hamill, who came on as Ramos' campaign manager at the beginning of this year. Knowles' move to Ramos' camp comes as both her and Tilson's candidacies are on shaky ground. Ramos and Tilson haven't clinched more than 1% support in most polls of the crowded June 24 Democratic mayoral primary. Meantime, Ramos hasn't qualified for public matching funds yet and her latest campaign finance filing released this week shows she's in the negative by $881 after raising less than $70,000 over the past couple of months. That marked the worst fundraising total for the period for any of the candidates in the Democratic primary until Mayor Adams — who's facing serious political headwinds amid his federal corruption indictment and surrounding scandals — disclosed Tuesday that he only raised $36,121 in the latest window. Tilson isn't in much better shape financially. He hasn't qualified for public matching funds, either, and his team has seen an unusually high error rate on the claims they did submit for matching under the program. His latest campaign finance disclosures shows he has just $84,857 in cash on hand after spending more than $660,000, most of it on outside consultants, to date. That pales in comparison to other top contenders in the mayoral race, like ex-Gov. Andrew Cuomo, who has more than $1.2 million in the bank after just two weeks of fundraising, and Queens Assemblyman Zohran Mamdani, whose war-chest tops $3.6 million, filings show. Though he didn't share details on how Ramos' campaign would pull it off, Knowles voiced optimism that she'll soon qualify for matching funds as voters 'continue investing in her ideas, her leadership and her vision for a more affordable New York City.'
Yahoo
13-03-2025
- Politics
- Yahoo
Tennessee bill looks to lower minimum school bus driving age to 21
UNICOI Co., Tenn. (WJHL) – Those hoping to drive school buses in Tennessee can begin the process at age 25. However, some Tennessee lawmakers want to lower the age requirement by four years. House Bill 0084 and Senate Bill 1042 would bring the minimum age for school bus drivers down to 21. In Unicoi County, the school system continues to look for staff to drive buses. Downtown Johnson City last call bill sails through first committee vote 'There's just such a demand for it,' Transportation Supervisor Drew Rice said. 'And the demand for it succeeds the supply for it, and I don't think that's a problem that's unique to us.' Rice said a lower age requirement would help grow the list of potential drivers, something current drivers have commented on. 'We've had a couple of our younger drivers go out there and get their [commercial driver's license] at 25,' Rice said. 'And they would have gotten it two or three years earlier if they could. So it just widens the pool of applicants and maybe people potentially interested in it.' James Tilson drives a bus for the school system and has been a driver for 43 years, having been certified when he was only 22 years old. 'I had to go through my certifications, testing,' Tilson said. 'I rode with a certified driver, then he rode with me on it.' Tilson said he supports the bill as long as the new drivers receive the proper training. 'You get them trained and turn them loose,' Tilson said. 'Ride with them, see how they're going to do before we turn them loose.' Rice said that's exactly what the school system plans to do. 'We would probably let them go with some training wheels, per se,' Rice said. 'To kind of get them used to it and ease them into it and maybe start with driving a ball team somewhere.' If the bill is passed, the law would go into effect on July 1. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
08-02-2025
- Business
- Yahoo
NYC mayoral candidate Whitney Tilson touts business sense: ‘Not a career politician'
NEW YORK (PIX11) – It is just over four months until the Democratic primary for New York City mayor. In the field of 10 candidates, Whitney Tilson wants to set himself apart. Tilson is a former hedge fund manager, a role he had for nearly two decades. Now he publishes investment newsletters. As for public service, Tilson helped found the nonprofit Teach for America. More: Latest News from Around the Tri-State Tilson joined PIX on Politics and discussed what separates him from the other candidates running for New York City mayor. 'I think we need someone who is not a career politician…' Tilson said. 'There is no business person in the race and so that's the lane. It's a narrow lane in this Democratic primary, but I'm the only one in it.' Watch the video player for the full interview. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
