Category Archives: Cause Campaign

If it’s capitalism, why not teach financial literacy?

Even though I am the president of this pr firm, I will admit that, before opening this business, I had little practical knowledge about the business side of running a business.

And, although I know how to balance a checkbook and have enough money in accounts to keep things “in the black,” no elementary or high school course ever taught me “financial literacy.”

Oh sure, there were courses on things like making a budget or shopping for the best food bargains, but no one actually explained the nuts and bolts of capitalism and how it works.

And I know I am hardly alone.

As a result, the ins and outs of capitalism are left to the “experts” whose job, in part, is to “tell” us what to do. No one ever explained, for example, that this “credit rating” thing could actually ruin a business or someone’s chances of getting a loan, or a mortgage, or an apartment. People marry and have families, and no one explains that the way you deal with your finances can seriously affect your ability to have the home and the life you want.

We have to deal with capitalism every day, but, for most people, it’s a high concept that’s really fuzzy and seems unrelated to what we do.

Of course, there are some courses in college that can be taken, and sometimes, local government provides courses too.

I’m bringing this up now because we worked with the BrooklynSpeaks community groups a few years ago on the new deal that will bring the promised Atlantic Yards affordable housing online ten years earlier. People will be able to apply for the housing through a lottery system. (More on that here.)

What many people don’t know is that simply showing that you need the housing and can prove it – through providing tax returns, etc. – is not enough. You have to be able to show that your household is financially capable of paying the rent in a timely manner every month. And that requires that your household’s finances are in tip top shape. Of course, ironically, a large percentage of the people who really need this kind of housing won’t qualify because they are unaware of this requirement and, since they are often scrambling just to make ends meet, they simply haven’t focused on their own financial fitness as calculated by the “outside” world.

Some non-profits, like Brown Community Development Corporation, are trying to address this problem by holding sessions about the lottery, and these sessions include advice on getting finances in shape.

But it shouldn’t have to come to this. Why don’t we include financial literacy from elementary school through high school? Perhaps it’s because if people really understood capitalism, those in power would have to face an educated voter base who’d be less likely to stand for some of the financial shenanigans we’ve seen.

It still comes down to this: If we have to live in this world of capitalism, we need to understand it. That goes for everyone.

Client News: ERFA’s New Zoning Plan to Stop Supertowers

East River Fifties Alliance Files New Zoning Plan, Promotes Affordable Housing; Manhattan Borough President Brewer, City Council Members Kallos and Garodnick, and State Senator Krueger Co-Sign

After months of intense preparation, our clients, the East River Fifties Alliance (ERFA), just filed a new zoning plan for Manhattan’s Far East 50s (the area between 52nd Street and 59th Street, east of 1st Avenue) with the Department of City Planning. The new zoning plan would restrict supertowers and out-of-scale development in that neighborhood, while providing for affordable housing. Not only that, but they had an elite list of co-filers: Manhattan Borough President Gale Brewer, City Council Members Ben Kallos and Dan Garodnick, and State Senator Liz Krueger.

This proposal, created via a partnership between the community (through ERFA) and city planners, is one of the most sweeping community residential re-zoning plans in City history, and the first plan of its kind to include affordable housing as a component.

Currently, the Far East Fifties is vulnerable to gigantic megatower development because its zoning is left over from the 1960s and sets no specific height limits on apartment buildings. It’s the last residential-only segment of the city that remains without such protections. (The same zoning is generally limited to busy commercial or mixed use avenues in Manhattan.)  In fact, one developer has already proposed a wildly oversized 1,000 foot megatower on East 58th Street between First Avenue and Sutton Place that would dwarf the entire neighborhood. ERFA is working to prevent not only that project but all others like it.

Affordable Housing

As Mayor de Blasio has voiced repeatedly, NYC needs affordable housing badly. ERFA not only agrees, but the neighborhood is welcoming such opportunities with open arms. This new zone would urge developers to devote at least 25% of new units to affordable housing in the neighborhood.

As it stands, the East River Fifties’ R10 zone and equivalent zones throughout the city only create about 4-5% affordable units with each new development. If fully implemented, the ERFA plan would nearly quadruple the amount of affordable housing in new developments in our neighborhood. The details of how that goal could be best met – whether by making the affordable housing component mandatory, voluntary, or by some other formulation – will be determined in ERFA’s negotiations with City Planning. it will enter a review process that moves through the various levels of New York City’s government for approval. You can learn more about ERFA and its new zoning plan at www.erfa.nyc

The media is already excited and we’ve received a slew of stories. Here are a few: City Land (New York Law School), Crain’s New York Business, Curbed, DNA Info, Manhattan Express, New York Daily News, Our Town Press, Realty Today, and The Real Deal.

Truthiness: How Hard Can the Windbags Blow?

Truth, Fact, Interpretation, Misdirection – In An Age of Liars, We Need A Decoder Ring

Think about this: we know the difference between truth and lies. Presumably, we form our opinions from the information given to us. Certainly, this ought to be the case for things like policy decisions. Shouldn’t our elected officials be able to incorporate relevant facts and factors into their plans of what to do next? Stephen Colbert’s “Truthiness” is alarmingly relevant right now.

When I was in college, I took a tremendous class from well-known writer Francine Prose, called “Language, Literature, and Lies.” Though I didn’t know it at the time, it was a great primer for my work in PR. One of the most lasting exercises was to read the same big news story in three major outlets (The New York Times, The New York Post, and The Guardian). We pored over the articles, picking out how the authors referred to their subjects (e.g. President Obama, Barack Obama, Obama, Mr. Obama, the president, etc.), which snippets of quotes they chose to cite, how they framed an issue, and who they gave the last word. Subtle choices conveyed biases. As humans, it is nearly impossible for us to describe happenings completely objectively – the nature of language is that it necessarily filters everything through our own lens; our own version of truth.

That said, while most media outlets use specific language to shape their version of events, they still stick to the same basic facts in news. That’s something we expect; why read or watch news if none of it is true? So it is jarring to note that when it comes to picking candidates for the presidency, many voters are keen to disregard flat out lies so long as they serve a particular agenda. The author of Wag the Dog recently wrote a biting op-ed about this in Al Jazeera, and multiple papers have referenced Politifact’s “Truth-O-Meter” with regards to candidate claims (it ranges from true to pants on fire).

I’m a big proponent of free speech, but I do believe that there is a difference between fact and opinion. Facts are, by nature, true. They are true whether you believe them or not. The converse is not the case. Unfortunately for some of us dreamers, simply believing something very fervently does not magically make it true. There is a danger to pandering to that falsehood. We can handle the truth, and we must if we expect to do anything helpful or relevant in life.

Stephen Colbert: Truthiness