Riders at risk of massive service cuts as MTA billions in debt amid COVID crisis

New York’s Metropolitan Transportation Authority (MTA), the largest transportation network in North America, is at a crossroads, operating on a $12 billion deficit through 2024. While foregoing an immediate fare hike, the MTA has threatened mass layoffs and service cuts of up to 50% as it faces the “the worst financial crisis in agency history.”

Madison Square Garden beats estimate

Signage is displayed on the exterior of Madison Square Garden Co. venue in New York City.

By Richard Foster-Shelton Medill Reports Madison Square Garden Co. (NYSE:MSG), based in New York City, reported healthy increases in revenues and net income, exceeding analysts’ expectations, for the second quarter ended Dec. 31. Helped by a tax benefit, the company reported net income of $189.6 million, or $7.96 per diluted share, up from $57.7 million, […]

Carolina Herrera goes monochromatic in fall/winter fashion week show

The Frick

By Alexandra Whittaker When most major fashion designers create their looks for New York Fashion Week, they have a specific idea or theme in mind. But this year, design powerhouse Carolina Herrera decided to go in a different direction. Herrera’s fall/winter 2016 ready-to-wear collection, shown at The Frick Collection’s tranquil garden courtyard in New York […]

And the Oscar goes to…New York

By Tim Rosenberger The decision to move production of the gold Oscar statuettes to New York after 34 years at Chicago manufacturing company R.S. Owens & Company was amicable, will not hurt the company’s business and R.S. Owens even helped in the transition, said Joseph Petree, R.S. Owens’s design director.