The Real Personal Trainer: My Dad

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Father’s Day Breakfast–Blueberry pancakes and coffee and no nags

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Coffee and the papers — No errands

 

 2013616fsathersday 005How to Celebrate Father’s Day: A Parisian Martini and Bluepoint Oysters.

White Plains CitizeNetReporterWPCNR THE SUNDAY  BAILEY. By John F. Bailey. Republished from The CitizeNetReporter of June 17, 2007:

My father gave me four pieces of advice in life: Always drive an air-conditioned car. Always centrally air-condition your home. Stay out of court.

And don’t sit in traffic.

Always take the service road on the Long Island Expressway. (He would have loved a Garmin.)

In retrospect, his advice has served me well.  I am always comfortable. I sit out traffic delays in comfort. I have not made lawyers rich.

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Charles F. Bailey

My Dad

Pleasantville, NY

1918-1986

He was not an emotional man. He was a banker and always wore suits to work. I have fond memories of going to meet him when he got off the train in Pleasantville – when  the train tracks were at grade with Manville Road.

I was most impressed as a young child by how he always smelled of coal cinders when he got off the train – like commuter’s cologne.

Sadly on today’s electric trains you do not get that. And you always heard those steam engines coming. You could see them: Clouds of very busy and industrious black smoke streaming at the horizon down the line. He’d get off the train.

My mother would move over and he’d drive the old Hudson Hornet home. He always spoke quietly. Never raised his voice. Drank scotch and soda in the winter. Gin and Tonics in the summer and he smoked Philip Morris’s, Marlboros, then Kents.

He set up a Lionel train set in our basement – perhaps our unspoken connection. When I was sent in by train for the first time to meet him at the office during Christmas time, He’d have his secretary greet me at Grand Central Terminal which still is a very big and scary place.

He would take me to lunch at Jack’s Monte Rosa restaurant on 49th Street – which I thought was a very great place. When I first went to it with him, I was a little disappointed that it was not more glamorous but I was really impressed that Jack the owner greeted him by name. I thought that was great that my Dad was greeted with respect.

When I first started working in Washington, D.C. in 1968 I ate regularly at a restaurant below the television station WMAL-TV where I worked, it was called Marty’s Italian Village.  Marty, the owner (who looked like Humphrey Bogart, the only thing missing was the white sport coat) started calling me when I came in around 7 PM, ‘Hi John, how are you?” People would look at me. They thought I was big.  I liked that. Feeling big in my small world.

When my father came to visit me in Washington where I worked. I took him around town. I told him when he got off the plane. “Hi, Dad, welcome to my town.” I wanted to impress him. We’re always trying to impress our fathers.

Another Father time was when my Dad came out for Dad’s Day at college. I mean this was a big thing to me. He watched me do play-by-play of a football game from atop the press box in 15 degree weather. It was cold. But he watched. Acted impressed. He hated cold weather.

Another time he impressed when I lost a job where I was working at the television station that I had been being considered for. And I told him how unfair it was, he put things in perspective: “Puggy, he said,  “The film manager wasn’t going to put you in as his Assistant if you were going to be bucking him all the time.” It put things in perspective. No false sentiment. No making me feel better, he was tough enough to teach by being realistic while telling me not to feel sorry for myself.

Then later in my career when I was fired out of a job completely blindsided. He again intervened, saying to me he thought what the agency head had done was a terrible thing. I needed that at the time.

He also, in a very supportive move, told me if I could make $1,000 a night writing a free lance direct mail package, I should keep trying to do that.

Dads are there to say the right things to you at the right time. Sometimes it is not always the right thing, but they try. Often, if you’re lucky, as I was, they say the right thing. And not the wrong thing.

With my father, who was not really my father, since I was an adopted child, it was never all about him, it was all about you.

When I bought my first house in White Plains. He never criticized the house. But when I sold it, he complimented me, “I think it’s great how you came out of it (the crummy first house).” They’re personal trainers.

The good ones  train you to run a race. If you stumble, no one hurts more than they do. When you succeed, no one is prouder.

They know what you should do, but they can’t tell you, because you won’t do it if you’re a kid.

But the more subtler of them tell you any way in hopes it will sink in to the rebellious offspring mind. My dad was subtle.

Another fond memory: My father took me camping once at a friend’s cabin in Pennsylvania. Funny thing was there was such a great comic collection we wound up sleeping in sleeping bags on the porch of the cabin. That was funny.

Another time when I was being threatened in college over a position at the radio station, I asked him if I should just abdicate and assign a play-by-play position to the person who was being forced on me. He advised me to “stick to your guns,” so I reported the threat to the Dean.

The position was compromised, but I was never threatened again.  He never shared my love for baseball and sports. In fact he never played catch with me all that well.

I mean I could have made the big leagues (pipe dream) if he played catch with me more. But that’s a small criticism.  I wish I had more of his financial acumen. But I do not.

As you grow into your 30s and 40s, little things they say to you you begin to understand. My father never struck me, but always disciplined me with quiet words. I have not always been that way as a parent myself, being somewhat volatile. I wish I had his even temperament. He always asked me to take care of my mother. And the only time he really got mad at me was when I had made my mother upset with me.

He was a little like John Wayne in the way he disciplined, I remember he would say admonitions quietly. Such as when I got an F in an English course at college. He told me, that was the last F I would get at Ohio Wesleyan, because the next one he would stop paying my tuition.

That had an effect. And that was when tuition was only $3,000 a year.

So, on Father’s Day, I think of him as I do every day of my life. I become more like him every day. He is always lingering in the background of my thoughts. I do not know what he would think of what I am doing now.  But, he’d say — “If that’s what you want to do. Do it.” He also would say, “You have to make yourself happy.”

I also think, even today of what advice (laconic as always) he’d give me in a situation. And I wish I could discuss property taxes with him.

I especially have to salute him, because I am an adopted child. That alone makes me appreciate his love and acceptance with a sense of awe to this day.

You never outgrow your need for Dad.

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ON THE INTERNET: WHITE PLAINS WEEK-THE JUNE 15 PROGRAM

IMG_63181-opener-ANNIVERSARY
for 6-15 has been posted  the link to youtube is
 
 
the link to whiteplainsweek.com is
 
ALSO ON YOUR TV AT
FIOS CH. 45 COUNTYWIDE
AND WHITE PLAINS
ALTICE-CABLEVISION CH. 76
AT
7 ON MONDAY
JIM BENEROFE IS BACK!
JOHN PETER AND JIM
ON
THE REDLIGHT YOU NEVER SAW COMING
THE SHARED SERVICES RUSH TO MAKE A NEW PLAN BY WESTCHESTER COUNTY
GOVERNOR CUOMO’S VISIT TO WHITE PLAINS HIGH VIDEO COVERAGE
TRUMP HAS ANOTHER WEEK TO REMEMBER
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SATURDAY NIGHT AT 7-ON PEOPLE TO BE HEARD 8 PM THE CRISIS IN THE EUROPEAN HUMAN RIGHTS COURT ON FIOS CH. 45 AND ALTICE-CABLEVISION CH. 76

PEOPLE TO BE HEARD interview withJohn Vorperian on the European Human Rights Court  has been posted   the youtube link is
 
 
the whiteplainsweek.com link is
 

JOHN BAILEY

INTERVIEWS

JOHN VORPERIAN

HUMAN RIGHTS ADVOCATE

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VORPERIAN (AT RIGHT, ABOVE) HAS JUST RETURNED FROM A WORLD CONFERENCE ON THE FUTURE OF THE EUROPEAN HUMAN RIGHTS COURT, IN SLOVENIA. HE IS SHOWN WITH PAUL LEACH, EUROPEAN HUMAN RIGHTS ADVOCACY CENTRE DIRECTOR, AND A PROFESSOR AT MIDDLESEX UNIVERSITY, IN SLOVENIA WHO ADDRESSED THE CONFERENCE   

JOHN BAILEY INTERVIEWS VORPERIAN ON THE SHAKY FINANCIAL FUTURE OF THE EUROPEAN HUMAN RIGHTS COURT IN STRASBOURG FRANCE.

THE FINANCIAL FUTURE OF THE COURT.

THE DANGER OF THE COURT BEING ELIMINATED

THE PROGRAM CAN ALSO BE SEEN ON 

www.wpcommunitymedia.org 

(Scroll down the program wall on the website to White Plains Week People to Be Heard)

as well as 7  PM

SATURDAY NIGHT

ON VERIZON FIOS CH. 45

OR ALTICE CABLEVISION CH. 76

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Issues and No Answers: June Meeting of The Council of Neighborhood Associations in White Plains Raises Important Issues, Concerns

WPCNR SOUTH END TIMES. Special to WPCNR  By Diana Das. Photos by Diana Das June 13th, 2018.:

The Council of Neighborhood Associations of White Plains held their final meeting for the summer last night at Education House(pictured below).  Co-presidents Bill Brady and Andrew Custodio moderated a lively roundtable, which included Councilman Dennis E. Krolian (D), that pertained to three issues concerning residents of White Plains:

Education House

Airbnb; the new dockless bike sharing program; and the spread of new high-rise construction from the City Center into suburban neighborhoods.

The first topic on the agenda was Airbnb and the issue of whether or not the online broker for short-term lodging and rentals should be allowed in White Plains revealed reactions, for and against.

One resident, Diane, spoke of the benefits that Airbnb offered, one of which being that it is a way of “connecting people.”  As an Airbnb renter, she described her experience as “very positive.” To those in the roundtable that may have been skeptical, she elaborated further, adding that, as a renter, she can “screen out” people that could have the potential to be unreliable.

However, Mr. Brady brought up the issue of whether or not Airbnb can be truly regulated.

Echoing that, another resident named Alan, was also concerned about the fact that residents won’t know who is coming in or out of their neighborhood, saying that one of the things he loves about White Plains is “the calm feeling of knowing everyone in the neighborhood.”  The potential loss of community was another sentiment raised as well, with Alan asking, “What kind of place do you want to live in?”

Another concern with allowing Airbnb into White Plains was how it would change the business framework of the city in addition to overcrowding in residences.

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Here come the Bikes

Mr. Brady next steered the discussion to the topic of the dockless bike sharing program that White Plains is participating in.  The two companies that are part of the program are Lime and Ofo.

To use Lime and Ofo, residents need to download the Lime or Ofo mobile app (available on iOS and Android) and register their basic information and payment method.  With the apps, residents can locate a nearby bike, scan the license plate (for Ofo) or the bike (for Lime), and ride. When they are finished, they can park the bike in an appropriate location and lock it so another rider can use it next.

The Common Council adopted the dockless bike sharing ordinance in March which paved the way for White Plains to participate in a one-year pilot program, according to the press release from the Mayor’s Office dated June 4th 2018.  The press release states that this “authorizes the City to establish a permit process through which dockless bike share operators can operate within the city.”

During the first 30 days of the program, up to 150 bikes will be in use in White Plains and just like riding private bicycles, riders participating in the bike-sharing program are subject to rules governing safety and accessibility.  For instance, the bicycles cannot block pedestrian access to sidewalks, accessibility ramps, or entrances to public and private property. The bicycles also cannot block vehicular traffic.

Residents’ concerns about the pilot program.

One resident felt that the scattered bicycles were an “eyesore”, while others agreed that the “placing of it is a problem.”  According to one member of the roundtable, businesses have complained about riders leaving the bikes in front of their stores, blocking the entrances.

Mr. Brady noted that the bikes scattered around “kind of serve a purpose,” referring to the fact that anyone with the mobile app can locate a bike that has been left nearby.

Another resident, Max, said that “Biking is a culture,” and that he hopes that people would learn the right way to leave the bikes when they are finished using them. He also asked, “Who from the city is answering questions about how the companies are operating?”

Other residents felt that the city should offer bicycle safety instructions. (White Plains does offer this through the parks department: http://www.cityofwhiteplains.com/documentcenter/view/331)

Some of the positive aspects highlighted were fewer cars on the streets and the bicycles were an affordable way for people to get around the city.  Another benefit is that if a pedestrian sees a bicycle left in a hazardous place, they can call either company–Lime (for the green bikes) or Ofo (for the yellow bikes)–and tell them.  The companies keep records of who was using the bike and when and can block out riders who don’t observe proper safety protocol.

Development Concerns

The final topic of discussion for the evening was the spread of high-rise development into residential neighborhoods in White Plains, beginning with the development of 52 North Broadway (pictured below).  The development will include market-rate housing, dormitories for students attending Pace University, and housing for seniors.

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Mr. Brady noted that the buildings in the development will be away from North Broadway(on left in the photo above) in order to preserve the former Good Council green.  The majority of the development will be toward the rear the property (in lower right of the picture above), adjacent the Cross Westchester Expressway, which will impact people who live near the project in the back on Stewart Place.

Mr. Brady next asked a member of the roundtable, Barbara, to provide the other attendees with more information about the project.

Barbara mentioned that they want to rezone residential areas and that if it is happening with the North Broadway project, it could happen to other neighborhoods as well.

  Another issue she brought up was the alleged contaminated dump site that she said was shut down by the DEC and hadn’t been sealed properly for the past fifteen years. (Editor’s Note: an environmental review is being conducted to analyze the safety of the alleged contaminated area. That review is due by the end of the month.)

An additional concern that Barbara raised was traffic congestion on North Broadway, near the new development.

She said, “The biggest issue is that it becomes a traffic nightmare for everybody.” Barbara also said that the number of cars is going to increase to 1,000 per day, ranging from people visiting to drivers making deliveries.

With the rise in new developments being built now and others potentially in the future, the traffic situation will be an issue, with entrances to the cities from the highways, such as I-287, becoming congested.  Residents were also concerned about the proliferation of “city-sized” buildings in residential neighborhoods, with one saying, “It’s a city-wide problem.”

Traffic Spectre

The rise in vehicular traffic poses another concern: public safety.  If there is an emergency, it was argued, the fire department would have trouble reaching people.

As a resident described it, “It is an absolute public safety issue.  Our fire department is down by the train station. Can you tell me, in a high rise, when we need a hook and ladder, how it’s going to get to Stewart Place when there are a thousand cars in the TransCenter and you’ve got four hundred cars on the corner there…how are they going to get up Barker Avenue and across North Broadway?”

Will Market Rates be Affordable? Is White Plains Growing too Big?

With the rise in new luxury developments being built in the city, people were concerned that there would be a lack of affordable housing and rents would increase for everyone.

This led attendees to ask the question of,  “What kind of city do citizens want White Plains to be?”

 With the population of the city estimated to be between 58-59,000, some were wondering if the population boom is necessarily in the best interests of the city at large.  Residents can write letters and attend Comprehensive Plan meetings and offer their views on what they would like White Plains to be. The loss of “Mom and Pop” stores in the city is another concern as well, with some residents lamenting the loss of community and camaraderie.

After the meeting, the Co-Vice President of the The Council of Neighborhood Associations, Chris Price, had this to say:

Councilman Krolian

“I think businesses need to be smarter about how they service this community.”  He noted that it is about evolving with the needs of the community as well.

The next meeting of The Council of Neighborhood Associations in White Plains will be in October.

 (Note: Photos of the bikes and the 52 North Broadway Development, from WPCNR)

 

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The Governor’s Visit

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Governor Andrew Cuomo Addressing White Plains High School Students at the high school Tuesday morning. Governor’s Press Office Photo.

WPCNR SCHOOL DAYS. From the Governor’s Press Office. June 13, 2018:

Governor Andrew M. Cuomo Tuesday stopped in Westchester County as part of the statewide campaign to pass the Red Flag Gun Protection Bill, which kicked off Monday, June 11 on Long Island and in the Bronx.

The Red Flag Protection Bill, also known as the Extreme Risk Protection Order Bill, was advanced by the Governor last week. The bus tour stopped at White Plains High School to bring together local elected officials, school staff and students in support of the bill.

Westchester County leaders endorsed the bill, which would prevent individuals determined by a court to have the potential to cause themselves or others serious harm from purchasing, possessing, or attempting to purchase or possess any type of firearm, including hand guns, rifles, or shotguns.

This legislation builds on New York’s strongest in the nation gun laws and prior legislative efforts, and, if passed, would make New York the first in the United States to empower its teachers and school administrators to prevent school shootings by pursuing court intervention.

“New York will not stand by and wait for Washington to take action against the gun violence and school shootings that have become all too common in this country,” Governor Cuomo said. ”Parents should not have to fear sending their children to school every day and teachers should not have to wonder if they will return home from work. Together, we can and will pass this common sense gun legislation and we will continue to fight to ensure gun violence has no place in this great state.”

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Board of Legislators in Surprise Special Meeting Votes to Request State Permission to Install Red Light Cameras Throughout Westchester County. BOYKIN, Chair ISSUES STATEMENT.

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WPCNR COUNTY CLARION-LEDGER. By John F. Bailey. June 12, 2018 UPDATED BULLETIN, 3:45 PM E.D.T.:

According to a spokesperson for the County Board of Legislators, Jason Chervokas, the County Board of Legislators called a Special Meeting of the Board Friday afternoon to vote on a home rule request to the New York State Legislature, that would allow Westchester County to install red light cameras (which would take surveillance photographs of vehicles running red lights at intersections).

Chervokas told WPCNR the meeting was called Friday afternoon in order to get the home rule request considered during this session of the state legislature. He said possible implementation was a long way off, and that there would be discussion and consideration of what county intersections would be installed with red light cameras.

Chervokas, also issued this statement as of 3:45 P.M.

 ”Just to explain, we’re just at the start of this process.  All Monday’s vote will do, if the state signs off, is give us the authority to pass our own law authorizing the cameras if we want to.  That means the whole regular legislative process before we actually vote on such a local law.”

Chervokas confirmed the County  Legislators voted 16-0 to send the home request request.

WPCNR sent a request to the Westchester County Department of Communications to confirm that the County Executive George Latimer requested the Board of Legislators to vote on the home rule request and when the request was made, or whether this was the Board of Legislators acting on their own.

Chairman of the Board of Legislators Benjamin Boykin’s office was asked by WPCNR when the request, in any was made, and why there was no public discussion of the red light camera initiative.

As of Tuesday morning there was no official press release from the County Executive or the County Board of Legislators explaining the action.

Ben Boykin & Anthony Castiglione

Benjamin Boykin, Chairman of the Board of Legislators AT AN SEIU 32BJ demonstration in March, A WPCNR FILE PHOTO

BULLETIN 3:45 PM: BENJAMIN BOYKIN, HAS NOW RESPONDED TO THE WPCNR REQUEST IN A NEWS RELEASE ON THE SURPRISE VOTE. THE COUNTY BOARD OF LEGISLATORS NOW CONFIRMS THAT YES, THEY HAVE VOTED TO ASK FOR HOME RULE REQUEST TO INSTALL RED LIGHT CAMERAS.

THE COUNTY EXECUTIVE OFFICE HAS NOT CONFIRMED WHETHER MR. LATIMER REQUESTED THE VOTE AND WHEN LATIMER REQUESTED IT IF HE DID REQUEST THE HOME RULE MESSAGE. HERE IS THE NEWS RELEASE WITH MR. BOYKIN’S STATEMENT.

At a special meeting on Monday, the Board of Legislators, by a 16-0 vote, approved a measure asking New York State to give the county permission to consider passing a local law that would allow red light cameras at county intersections. 

“The measure was passed in order to get it into the hands of state legislators quickly, because the state legislative session is ending.  But this does not mean that the county is on the verge of installing red light cameras,” explained Board Chair Ben Boykin (D-Harrison, Scarsdale, White Plains).

In fact, if the state approves the request, the Board would still need to draft and vote on a new local law authorizing the cameras, a process that would involve careful consideration.

“Before any program actually moves forward, the Board will examine all issues regarding any specific proposal for implementation in cooperation with the relevant county agencies and departments and with the County Executive’s office,” Boykin said.

 “That means looking at statistics on the impact of red light cameras on safety and on changing driver behavior, as well as looking at where any such cameras would go, before deciding if red light cameras are a good idea,” he added.

 The Board also would examine how systems might work so as not to inadvertently flag drivers, as well as what the implications are, both for costs and for revenue. In addition, careful consideration would be given to the lessons learned by the cities of Mount Vernon, New Rochelle and Yonkers, which already have their own red light cameras in place.

 

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COUNTY EXECUTIVE TAKES BULL BY THE HORNS ON SHARED SERVICES:INVITES PUBLIC TO SUGGEST HOW VILLAGES, CITIES CAN SHARE SERVICES FOR TAX SAVINGS. COUNTY WILL MAKE SUGGESTIONS. WANTS A PLAN BY AUGUST 1

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GEORGE LATIMER MOVING AHEAD ON SHARED SERVICES TODAY

WPCNR COUNTY CLARION-LEDGER. By John F. Bailey. June 11, 2018:

Westchester County Executive George Latimer took the bull by the horns today on sharing services between county cities and villages, with village collaboration first.

He announced two public hearings  this coming Thursday,  in Yonkers, 3 PM to 5 PM at the Yonkers Riverfront  Library and later Thursday evening at the Mt. Kisco Library, 7 to 9 PM.

Latimer said input from the public and city and village officials at those hearings would be a start to formulating a county shared services plan approved by a panel of the chief elected officials from every municipality in the county to submit to Governor Andrew M. Cuomo due by  September 15.

The Rockefeller Institute and the Benjamin Center at SUNY New Paltz will help the county prepare the Shared Services Plan. Patty Dwyer former Executive Director of the New York State City and County Management Association has been tapped as a consultant/liaison with the Institute and Benjamin Center to formulate the County Plan.

Dwyer told the news conference today her immediate focus would be on finding opporutnities for villages in Westchester to combine services.

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GINA PICINICH, Mayor of Mount Kisco and County Chief of Police told of the $500,000 a Year Savings achieved by The County Police taking over Mount Kisco policing.

Asked if Mr. Latimer would be “proactive” in bringing a meeting of village, city officials’ minds on sharing opporuntunities, Latimer told WPCNR  the county would be making suggestions.

Latimer emphasized that there is a home rule policy in New York State and at this point it appears it will be up to the cities and villages to agree to county suggestions on savings.

The timetable is demanding:

Mr. Latimer’s news release indicates August 1st is the Deadline for the Presentation to Westchester County Board of Legislators.

There will be a public hearing (Date and location to be determined)

September 15 is the deadline for the Panel of Municpality leaders (of 41 cities and towns in the county) to approve the County Plan and submit it to the Governor.

October 15 is the deadline for the Presentation of the Plan to the public.

WPCNR has been assured that these dates are just deadlines and the public will be informed as the plan is developed.

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PARKER POWER TALK: Con Ed Rewrites the Weather Forecasts. Disputes it Had Adequate Notices of the March Storms

WPCNR THE LETTER TICKER. From  Westchester County Legislator Catherine Parker. June 11, 2018:

On Monday, June 4th, my colleagues at the Board of Legislators and I continued our meetings with Con Edison over the power outage experienced during the nor’easter in early March. I am sad to report that Con Ed once again left us feeling rather dissatisfied with several of their answers. Con Ed also started their discussion that day by disputing the fact that they had ample notice that a nor’easter was expected, and not just a regular winter storm. How is it that the average Westchester resident, courtesy of the Journal News (Potential nor’easter could deliver strong winds and rain Thursday and Friday – February 26) knew 3 days before the storm hit, but Con Edison was caught off guard? Their excuse for failing to have mutual aid on the ground ready to work as soon as the storm let up because they didn’t have enough time was infuriating.

I continued to press Con Ed and asked them about their billing methodology. Using an actual electric bill I identified that almost half of the $220 monthly bill was to cover maintenance on the system. Look at your Con Ed bill. Don’t you wonder what Con Ed is doing with that portion of your money? I know I do. Knowing how expensive this equipment must be, and how much of our money goes toward properly maintaining it, I had asked Con Ed at a prior meeting what the average lifespan of a transformer was. During the time that many of us had lost service, I had heard of out of state crews remarking on the aging equipment that they were sent to repair. I felt it was important to get a baseline. One member of the Con Ed team responded that transformers can go on “forever until they don’t.” Finding that response unacceptable, my staff (which included four interns from Mamaroneck High School) and I decided to do our own research. We reviewed Public Service Commission testimony and reports from prior storms, including the 402 page Comprehensive Management and Operations Audit of Long Island Power Authority (LIPA), which led Governor Cuomo to end LIPA and “create a new utility company on Long Island that puts ratepayers first.” In that report, we were able to identify many of the answers that Con Ed was not able to provide.

We will continue to pursue answers and ultimately solutions to get better electrical service in our community.  If we don’t, the precedent that was set on Long Island could be an option for Westchester County.

Click here to view my questioning of Con Ed:https://www.dropbox.com/s/l4m6x310u6ahlwh/Leg%20Parker%20Cow%20June%204.mp4?dl=0

If you want to watch the entire two hour meeting, click on this link: https://www.dropbox.com/s/vakjzyo6sm9auh9/Jun%204%202018%200200%20PM%20Committee%20of%20the%20Whole%20Committee%20Meeting%20SD%20480.mp4?dl=0

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AMOUNT OF WRITTEN-OFF DEBT RISES 6% While Consumers Repay Debt at Second-to-Highest Rate Ever In First Quarter. Fed Rate Hike Cost to Consumers Analyzed

WPCNR QUILL & EYESHADE From Wallet Hub. June 11, 2018:

The personal-finance website WalletHub today released two key reports, one showing that consumers repaid $40.3 billion in credit card debt during Q1 2018, the second-biggest quarterly paydown ever, and the other finding that a Federal Reserve rate hike on Wednesday would cost people with credit card debt an extra $1.6 billion this year alone.

Below, you can find a handful of highlights from WalletHub’s Q2 2018 Fed Rate Hike Report and its 2018 Credit Card Debt Study, which is accompanied by a nationally representative credit card survey.

  • At 3.80% for Q1 2018, the charge-off rate (the amount of defaulted credit card balances written off compared to the amount of funds charged) is up nearly 6% year over year and at the highest point since mid-2012.
  • We began the year owing more than $1 trillion in credit card debt for the first time ever, after adding a post-Great Recession record $91.6 billion to our tab in 2017.
  • 37% of people think travel is worth getting into debt for, behind just housing (47%) and health care (61%).
  • 89% of people say their personal finances are run better than the federal government.
  • 41% of people with credit card debt say they’ll pay it off in less than a year.
  • The Fed has cost the average homebuyer roughly $42,000, if you assume its six recent rate hikes are fully responsible for the rise in the average mortgage APR since January 2015.

 

Cities with the Biggest
Q1 Paydowns
Cities with the Smallest
Q1 Paydowns
Darien, CT Clarkston, GA
Lake Forest, IL Coachella, CA
Southlake, TX Chelsea, MA
Beverly Hills, CA San Luis, AZ
Dix Hills, NY Cicero, IL
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