$5,336—Per Second

The Empire Center has updated its on-line Spend-O-Meter to reflect the record size of New York’s newly enacted $168.3 billion budget for fiscal 2019.

As of April 1st, the fast-spinning Spend-O-Meter shows, the state
government is spending at a rate equivalent to:

•             $5,336 per second,

•             $320,205 per minute,

•             $461,095,890 per day,

•             $3,236,538,462 per week, and

•             $14,025,000,000 per month.

That’s faster than my wife with a credit card in Lord & Taylor’s at Christmas!

New York’s All Funds budget, which includes revenues from both state and federal sources, has nearly doubled since fiscal year 1988, when the state spent $85.7 billion (in 2018 dollars).

“Precedent setting”: The Pennsylvania Superior Court recently held that a trial court’s decision to impose $18 million in punitive damages and $3 million in attorneys’ fees for violations of Pennsylvania’s Insurance Bad Faith Statute, 42 Pa. C.S.A. § 8371, was unsupported by the record, and instead directed the entry of a judgment in favor of the insurer, Berg v. Nationwide Mut. Ins. Co., No. 713 MDA 2015 (Pa. Super. April 9, 2018). The Superior Court also admonished the trial court for making irrelevant observations about the insurance industry and rejected what it believed were unsubstantiated findings of fact…. One for the insurers…. Congrats to Dr. Sharon Emek on her receiving the Leadership Award Celebrating Women in Innovation & Entrepreneurship. Dr. Emek, founder and chief executive officer of WAHVE, an innovative staffing solution that connects employers with pre-retirement workers, was presented with the Leadership, Women in Innovation and Entrepreneurship award at the 15th annual What’s Next Boomer Business Summit, a one-of-a-kind event that raises the profile of workplace issues specific to boomers. Dr. Emek was one of two women honored with an award during this year’s event. Since launching WAHVE (Work At Home Vintage Experts) in 2010, Dr. Emek has been at the forefront of the conversation about aging workforces continuing beyond traditional retirement years and the need for more flexible, remote employment across all industries. Through WAHVE, companies are matched with seasoned talent while boomer professionals can extend their careers as work from home contractors. Sharon is a long time insurance career specialist. SA