Politics

[atrious]

 

[atrious]

 

[CJW]

The problem with Mamdani's reign will be the time it takes for his decisions to be felt negatively by the average New Yorker. For the first couple of years he will be touting the roll out of new programs, niche taxes on the evil rich, and lots of favorable, even fawning, press. New York's economy is too large to show the effects for several years.

Exactly. Meanwhile the good ones will feel even more compelled to leave and then you have to wonder if there will be enough left or just enough of the old NY left to ever fix. It's already on the difficult to afford side for the average person.

 

[Tanks]

Exactly. Meanwhile the good ones will feel even more compelled to leave and then you have to wonder if there will be enough left or just enough of the old NY left to ever fix. It's already on the difficult to afford side for the average person.

My wife and her husband can't leave NYC without a huge income drop. Their solution is to charge their clients more, my SIL said in effect they'd be collecting taxes from the rest of the country for NYC.

 

[mdwest]

My wife and her husband can't leave NYC without a huge income drop. Their solution is to charge their clients more, my SIL said in effect they'd be collecting taxes from the rest of the country for NYC.

until their clients figure out new solutions because pricing became too high...

theres a reason businesses are fleeing parts of CA and NY already.. they just cant compete in the market space any longer.. cost of wages are too high.. cost of facilities are too high... taxes are too high.. the regulatory environment is insane.. etc.. .

its one thing if youre providing to the local community and there are no other options..

its quite another thing if you have a national or global customer base.. and they have other options...

being really well liked by your clients and doing really great work only gets you so far.. sooner or later price always becomes a factor.. theres always someone else out there thats both likable and that does great work..

JP Morgan Chase, the 4th largest enterprise on the planet... a LONG established NY firm.. now has more employees in TX than in NY... theres a reason for that..

https://www.klw-law.com/companies-leaving-california

With Wall Street jobs fleeing, New York is nearing the point of no return

Indeed, local government is more dependent on Wall Street than ever — because other industries have already fled more completely.

nypost.com

 

[atrious]

 

[Tanks]

until their clients figure out new solutions because pricing became too high...

M&A work almost exclusively occurs with NYC firms. When one is a partner in one of the top firms in the world then one can set the price. And those top firms usually follow each other's lead in pricing and salaries.

When my daughter's firm increased bonuses and starting salaries of incoming associates other firms followed suit, or they'd be left behind and not be able to compete for the top talent.

 

[Red Leg]

This character actually said ‘We will replace the frigidity of rugged individualism with the warmth of collectivism.’ Strange times - He is advocating a Borg culture in the center of capitalism of the Western World - and an American audience cheered.

https://twitter.com/x/status/2006823362182394125

 

[CJW]

My wife and her husband can't leave NYC without a huge income drop. Their solution is to charge their clients more, my SIL said in effect they'd be collecting taxes from the rest of the country for NYC.

Does it bother you that your wife has a husband in NYC?

 

[Tanks]

Does it bother you that your wife has a husband in NYC?

lol, I meant my daughter, none of my past wives are in NYC.

 

[jpr9954]

 

[spike.t]

My wife and her husband can't leave NYC without a huge income drop. Their solution is to charge their clients more, my SIL said in effect they'd be collecting taxes from the rest of the country for NYC.

Don't you mean your daughter and husband?......

 

[spike.t]

Looks like a bit of a problem for part of the great wildebeest migration.....too many fences, and farms allocated by the government.....

Kenya' s wildebeest migration shrinks by 90% due to fences | New York Post https://share.google/HbyphD8rkrvooHloI

 

[Scott CWO]

So let's see how this works out......

Iran: Trump warns US will intervene if Iran kills protesters

The US president says "we will come to their rescue" after days of demonstrations and clashes.

www.bbc.com

But do less for Ukraine??

 

[WAB]

M&A work almost exclusively occurs with NYC firms. When one is a partner in one of the top firms in the world then one can set the price. And those top firms usually follow each other's lead in pricing and salaries.

When my daughter's firm increased bonuses and starting salaries of incoming associates other firms followed suit, or they'd be left behind and not be able to compete for the top talent.

A lot of M&A work has moved out of NYC. Texas is becoming more and more important in this world. I did a lot of M&A work for one of the largest private firms on the planet. We rarely used folks out of NYC. When I was leading a business unit for a Fortune 500 firm, our largest transaction was close to $2B. We used BMO out of Montreal.

NYC is not immune to socialism driven decline into irrelevance.

 

[Mekaniks]

But do less for Ukraine??

Because Biden supported Ukraine. Trump will not support Ukraine simply for that reason alone.

 

[Tanks]

A lot of M&A work has moved out of NYC. Texas is becoming more and more important in this world.

Well, the following are the top 10 M&A law firms. All but 3 are in NYC. Kirkland is in Chicago and Latham and Watkins was founded in LA but operates without a formal HQ and Freshfields has its HQ in London but operates out of NYC for US mergers.

None in Texas.

1. Cravath, Swaine & Moore LLP
2. Wachtell, Lipton, Rosen & Katz
3. Skadden, Arps, Slate, Meagher & Flom LLP
4. Kirkland & Ellis LLP
5. Latham & Watkins LLP
6. Simpson Thacher & Bartlett LLP
7. Davis Polk & Wardwell LLP
8. Cleary Gottlieb Steen & Hamilton LLP
9. Paul Weiss Rifkind Wharton & Garrison LLP
10. Freshfields Bruckhaus Deringer LLP

our largest transaction was close to $2B

$2B is a small merger for the above firms.

Edit: Here is a profit per partner numbers for the top 20 law firms, again majority in NYC. Interestingly my daughter worked at Wachtell (#2) and then got recruited heavily by one of the others on the list to kickstart their M&A department.

It will be interesting to see what their profits will be if the taxes pass.

 

[Whit]

While I’d agree that Tonga is probably not a national security threat to the US, I also don’t see why they should be ignored when it comes to overstaying visas.

“Tonga – population 100,000 – is the only Pacific island country included in the list. The White House said the restrictions were justified by a high rate of Tongans overstaying their visas – more than 14% for some visa categories, the US government said.”

Being small and benign is not an automatic pass to ignore American immigration law.

Strategic importance of the Tonga land mass, when examining the Pacific problem set. The Chinese are WILDLY interested in basing and access to islands all across the Pacific basin, including Tonga,. Much as I am strongly in favor of holding the line on immigration, from a national security strategy / second island chain perspective, this may be a short-sighted decision...

 

[Brent in Az]

Elon Musk stated that he is committed to bankrolling Republican candidates in the 2026 midterms.

 

[Brent in Az]

I wonder how many Jews voted for him?