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Say goodnight, Lisa

Written By Unknown on Rabu, 02 Januari 2013 | 10.46

Good news: Environmental Protection Agency boss Lisa Jackson announced her resignation last week.

Bad news: Whoever replaces her might be worse, particularly in an area of prime concern to New Yorkers — fracking.

Jackson joined Team Obama at the outset in 2009, eager to roll out a far-reaching, radical, anti-global-warming agenda.

So radical, in fact, that parts of it met resistance from not only Senate Democrats, but even pro-enviro Obama folks.

And, notably, Jackson's departure comes just as probes are heating up into her potential misuse of private e-mails to evade federal transparency rules.

AP

Lisa Jackson

A pillar of Jackson's agenda was the so-called cap-and-trade bill, meant to curb greenhouse emissions. The bill died in 2010 when even Senate Democrats realized the damage it would do to the economy.

Alas, Jackson had a Plan B: She'd impose regulations by fiat — and to hell with Congress. Under her guidance, EPA devised the first-ever greenhouse-gas standards for vehicles and set onerous emissions rules for factories and power plants, particularly those that burned coal.

Coal-producing states like Kentucky, West Virginia and Pennsylvania understandably began to sweat, believing the entire industry was doomed — as were thousands of its jobs.

As it turned out, a federal court blocked her power-plant rule. And her most ambitious gambit, smog regulation, was scuttled by a re-election-focused President Obama, who feared that, in a weak economy, the plan would send precisely the wrong message to the nation's job-producers.

Feeling "blindsided," she almost quit.

Yet, there was a bright spot in Jackson's record: She was an unabashed supporter of fracking, the controversial method of extracting gas and oil from rock formations deep below the surface.

Indeed, she blessed it as both safe and economically invaluable.

That was good news for New Yorkers, who've been waiting years for Albany to OK the process here and jolt the economy upstate.

But who knows if Jackson's replacement will be as supportive of fracking?

Or as radical on other issues. (On these, admittedly, it will be hard to top Jackson.)

A great deal — for New York and the nation — now hangs in the balance.

Have an opinion on this Post editorial? Send it in to LETTERS@NYPOST.COM!


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An ugly deal

Senate Majority Leader Mitch McConnell was a model of understatement yesterday when he declared: "This shouldn't be the model for how to do things around here."

No kidding.

With a pre-dawn vote yesterday, the Senate overwhelmingly approved a compromise package that undoes the Bush tax cuts for individuals making $400,000 a year and families making $450,000, raises several other taxes and limits personal exemptions.

But the deal was far from done late yesterday: In the House, conservative Republicans had serious misgivings with its terms, and while the expectation was that it ultimately will pass, there were no guarantees.

AP

Mitch McConnell

So, barring a GOP revolt, the so-called "fiscal cliff" has been avoided: there will be no automatic tax-rate hike for all Americans instead of just the wealthiest. But, as Rep. Jeff Fortenberry (R-Neb.) noted, the cliffhanger has been traded in for "a journey over the fiscal mountains."

That's because the last-minute deal simply postponed dealing with spending cuts, entitlement reform and trimming the national debt for another two months.

Indeed, according to the Congressional Budget Office, the package raises taxes by $620 billion while cutting spending by only $15 billion — a 41-1 ratio. Plus it adds $329 billion to the federal deficit in 2013, increasing it by $3.9 trillion over 10 years.

That means an even bigger battle soon. And, almost certainly, an even bigger political drama than the one America just witnessed.

This time, however, Obama will be without his biggest rhetorical weapon: his insistence on what he so misleadingly called "tax fairness." Which, Republicans hope, means he'll have to give more ground, provided they hold firm.

Because the fiscal-cliff package does next to nothing on the national debt and the budget deficit, at the risk of damaging the economy as it struggles to move forward.

In fact, the president's chief goal throughout the talks was blatantly political, to portray the GOP as eager to sacrifice the middle class in order to protect the rich. (How ironic that most Democrats once vehemently opposed what they're now staunchly defending as "tax cuts for the middle class.")

Yet Obama — whose only contribution to the negotiations was creating ill will on both sides — made it clear that he hasn't finished hiking taxes: Even before the House vote, the White House said that "continuing to ask the wealthy to do a little bit more" — i.e., pay even more taxes — "will be part of a balanced approach."

In other words, he's going to play the class-warfare card for everything it's worth.

But the fiscal-cliff compromise actually brings in $200 billion less in tax revenue than did House Speaker John Boehner's Plan B, which the president opposed (as, embarrassingly for Boehner, did House Republicans).

The whole idea of the "fiscal cliff" was to create a situation so precarious that Washington would have no choice but to reach a comprehensive solution.

But congressional fecklessness and presidential arrogance combined to once again avoid the unpleasant — but necessary — business of restoring the nation's economic stability.

For all the back-patting now under way on Capitol Hill, the road ahead is sown with mines.

Take 10, America. It ain't over.

Have an opinion on this Post editorial? Send it in to LETTERS@NYPOST.COM!


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Niners cut ex-Giant RB Jacobs

Written By Unknown on Selasa, 01 Januari 2013 | 10.46

SANTA CLARA, Calif. — The 49ers parted ways for good with former Giants running back Brandon Jacobs today, an expected move after the outspoken player was suspended for the final three regular-season games.

The team said that even if Jacobs were to be claimed by another team off waivers, he would not be eligible to play during the postseason and only once the Super Bowl was done — so, that certainly came into the timing of the move.

Jacobs was suspended Dec. 10, though the team didn't provide a reason or explain why he was being punished. Yet it was pretty clear following a series of posts by Jacobs on social media sites in the days prior addressing his lack of playing time.

Jacobs had five carries for 7 yards while playing in only two games and being active for just three for the NFC West champions (11-4-1).


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Woman critical after allegedly jumping in front of train

A woman is fighting for her life after getting struck by a subway at a Harlem station, authorities said.

The victim allegedly jumped in front of an oncoming uptown A-train at the 125th Street station at 3:20 p.m., police said.

Emergency workers removed the woman from underneath the train and rushed her to Harlem Hospital where she is in critical condition, cops and fire officials said.


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Somber farewell for man pushed to his death in subway

Friends of the hardworking, humble immigrant shoved to his death last week in front of the 7 train by a Muslim-hating madwoman today gathered for an emotional farewell in Queens at the Coppola-Migliore funeral home in Flushing.

Sunando Sen, 36, was remember as a man of "quiet strength" by Lorcan Otway, a lawyer and longtime friend, who noted that Sen years ago left Bangladesh to escape oppression, and was involved in human rights issues here, helping Hindus.

Sen's mentally ill alleged killer, Erika Menendez, 31, has told cops she pushed Sen because she hates Muslims and Hindus.

Matthew McDermott

Farewell for subway push victim Sunando Sen.

"He didn't have a hateful bone in his body," Otway said of Sen. "He approached everything with a calmness. The remarkable man he was should teach us a lesson. I wish people could know the greater loss to the community."

Sen's body, wrapped in cloth and covered with flowers, lay in a blue-grey casket. Sarker and others recited traditional prayers, chanted and burned incense. They put bananas and rice in his casket, followed by yogurt and milk – a sendoff ritual meant to give Sen what he needs as he travels into the next world, friends said.

Sen had no family here, and his parents in India have died. But he fashioned a family from the friends he made in New York, said Bidyut Sarker Sen's boss at the Manhattan print shop where he'd worked for 15 years.

"I feel like I lost a family member. The neighborhood, the shop, was his family," said Sarker, who helped pay for Sen's burial. "Customers are coming in and crying. "

Sen, whom friends said had recently opened his own printing shop on Amsterdam Avenue, was "a gentleman" and exceptionally smart. He got a scholarship to New York University and earned a master's degree in economics, and was trying for a PhD at Columbia before dropping out because he couldn't afford it, friends said.

Sen taught himself graphic design, Sarker said, and was "extraordinarily talented," Otway noted.

"He was working well below his education," Otway said.

Sen's body was cremated at a cemetery after the ceremony.

Meanwhile yesterday, police said they were called by Erika Menendez's family members at least five times prior to last Thursday's train-shoving because Menendez had gone off her prescribed meds.

Menendez is being held without bail. She has replaced her court-appointed lawyer Queens lawyer Joseph DeFelice. He did not return calls.


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Rams end year on high note, beat Hawks 82-71

The New Year's Eve festivities started a little early at Rose Hill Gym.

Fordham was able to end 2012 on a high note after dispatching Monmouth 82-71 at home on Monday night thanks to a spirited second-half comeback where the Rams outscored the Hawks 54-38.

"I think the difference was we came to life in the second half," Fordham head coach Tom Pecora said. "[This] was another way of learning how to put a game away. It was gut-check time for us. It was important for us to come out, to be down at the half and show that we can come back into a game."

The biggest difference from the first half was the play of Chris Gaston and Bryan Smith. Gaston, one of the team's few upperclassmen, scored 15 of his game-high 19 points in the second half after Pecora turned up the heat on him in the locker room.

"I told Chris that he had to take the game over at halftime and he did a good job in the second half of getting position to make good plays," Pecora said. "He responded and that's key."

Gaston also rallied his fellow Rams to pick up a victory that marks the second straight year Fordham has notched a winning non-conference record at home.

"At halftime we all huddled up and said we have to protect our house," Gaston said. "We showed a lot of courage and played a lot harder than we did in the second half."

And on a night where the world will be watching the ball drop in Times Square, seemingly every ball Bryan Smith shot in the second half dropped as well.

"When Bryan Smith makes shots, we win a lot of games," Pecora said. "You should have heard what I was saying to him at halftime to get him motivated."

Whatever Pecora said to Smith worked. After shooting just 1-for-6 from the field in the first half, the sophomore guard erupted to go 4-for-6 on 3-point shots in the second half for a season-high 18 points.

"I just know that if I miss a shot, I'm going to make the next one," Smith said. "I just keep thinking positive for the next shot. I never lost confidence; I know I'm a good shooter."

In addition to Smith and Gaston, Fordham (4-10) received strong performances from sophomore center Ryan Canty and freshman guard Mandell Thomas.

Canty, who has been dealing with back issues all season long, provided quality minutes off the bench and dominated in the paint, finishing with seven points and three blocks to go along with his game-high 14 rebounds.

"Canty did a great job. I thought in the second half that was huge for us." Pecora said. "Canty's been lost for the last couple of games. It's nice to see signs of life there."

Once again, just over a week after a monster block that saved the Rams at home against Siena, Thomas dazzled with two blocks against the Hawks (5-8) that caused the crowd to ooh and ah.

"He's done a pretty good job defensively," Pecora said. "Obviously another game where he made a bigtime block late in the game and you see his explosiveness. He's a sick, freakish athlete."

Fordham will head to play Ole Miss on the road Friday before returning home on Jan. 9 to start Atlantic-10 play against Duquesne.

asulla-heffinger@nypost.com


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Democratic officials: Fiscal 'cliff' deal reached, but House won't vote tonight

WASHINGTON — Racing the clock, the White House reached a New Year's Eve accord with Senate Republicans late Monday to block across-the-board tax increases and spending cuts in government programs due to take effect at midnight, according to administration and Senate Democratic officials.

Under the deal, taxes would remain steady for the middle class and rise at incomes over $400,000 for individuals and $450,000 for couples — levels higher than President Barack Obama had campaigned for in his successful drive for a second term in office.

Spending cuts aimed at the Pentagon and domestic programs would be deferred for two months. That would allow the White House and lawmakers time to regroup before plunging very quickly into a new round of budget brinkmanship certain to revolve around Republican calls to rein in the cost of Medicare and other government benefit programs.

Democratic officials said that barring opposition from majority Democrats, a late-night Senate vote was possible on the deal, which was brokered by Vice President Joseph Biden and Senate Republican leader Mitch McConnell.

Passage would send the measure to the House, where Speaker John Boehner, R-Ohio, refrained from endorsing a package as yet unseen by his famously rebellious rank-and-file.

The House Democratic leader, Rep. Nancy Pelosi of California, issued a statement saying that when legislation clears the Senate, "I will present it to the House Democratic caucus."

Without legislation, economists in and out of government warned of a possible recession if the economy were allowed to fall over a fiscal cliff of tax increases and spending cuts.

And while the deadline to act was technically midnight, Obama's signature on legislation by the time a new Congress takes office at noon on Jan. 3, 2013 — the likely timetable — would eliminate or minimize any inconvenience for taxpayers.

Even by the dysfunctional standards of government-by-gridlock, the activity at both ends of historic Pennsylvania Avenue was remarkable as the administration and lawmakers spent the final hours of 2012 haggling over long-festering differences.

"One thing we can count on with respect to this Congress is that if there's even one second left before you have to do what you're supposed to do, they will use that last second," the president said in a mid-afternoon status update on the talks.

As darkness fell on the last day of the year, Obama, Biden and their aides were at work in the White House, and lights burned in the House and Senate. Democrats complained that Obama had given away too much in agreeing to limit tax increases to incomes over $450,000, far above the $250,000 level he campaigned on. Yet some Republicans recoiled at the prospect of raising taxes at all.


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Business briefs

Written By Unknown on Senin, 31 Desember 2012 | 10.46

Carlyle & Duff

A group of private equity firms, including the Carlyle Group, agreed to buy financial advisory and investment banking firm Duff & Phelps Corp. for about $665.5 million.

Sacre bleu

The French government is being forced to find another way of imposing a top income-tax rate of 75 percent on high-wealth individuals after the country's top constitutional authority killed the plan.

Merkel trickle

Chancellor Angela Merkel warned Germans that the nation's economy would experience a harder time next year than in 2012 and cautioned that the eurozone debt crisis was far from over.

Baer season

William Baer, a Washington antitrust lawyer and former FTC official, was confirmed to head the US Justice Department's antitrust division.

Galante is in

The head of the Federal Housing Administration, Carol Galante, was confirmed by the Senate despite mounting losses from souring loans at the mortgage funding agency that some fear could lead to a taxpayer bailout.

Reuters

Copyright 2010 Thomson Reuters. Click For Restrictions


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Losing facebook

If 2012 taught young companies anything, it was — courtesy of Facebook: how not to conduct an IPO.

After a strong start, new offerings lagged in the second half as the social media giant's mismanaged debut in May made entrepreneurs think twice about going public. It's also the reason why unsung firms that bring solid returns are capturing Wall Street's attention heading into 2013.

The Facebook fiasco, which was supposed to usher in a new era for tech issues, cast a long shadow over Silicon Valley. The year started off promising with seven Internet IPOs pricing in the first quarter alone, but after Facebook there were just five more Internet deals for the year.

Upstarts raised $43 billion this year — the highest total since pre-recession 2007 — but the figure was skewed by Facebook's $16 billion haul. Without it, the average tech deal size shrank by 62 percent to $224 million.

Making matters worse, Groupon and Zynga, which went public in late 2011, suffered big declines this year. Both are down 75 percent, with investors unimpressed by their performance.

Sam Hamadeh, CEO of PrivCo, a research firm, is now looking at "less sexier names" for hot IPOs. TableauSoftware, one of the biggest data companies, is on everyone's hoped-for list after its peers were among the top performers this year.

"It's all about B-to-B enterprise and cloud-computing software companies," he said.

Fellow enterprise software companies Guidewire and Workday are up 140 percent and 80 percent, respectively, since going public.

"These companies did better because the business model of Internet can be volatile and revenue difficult to predict," said Stephanie Chang, a researcher with Renaissance Capital. "Software companies have contracts four or five years out and a lot more revenue visibility."

That helps explain why Facebook, which launched at $38 a pop, is now trading at $25.91. It went public at a time when ad growth was slowing and investors questioned whether it would be able to transition its desktop service to mobile devices.

Companies that have announced IPO plans include Auto Trader, Intelsat and GFI Software. Among the other firms that could surprise with a public push are SpaceX, Elon Musk's space shipping company, and AppSense.

Still, it's inevitable that Twitter, Facebook's social media rival, will draw a lion's share of attention.

The popular microblogging service could achieve for IPOs what Facebook failed to do: restore faith in the process for millions of everyday investors.

To do that, Twitter just has to take Facebook's IPO playbook and throw it out the window, said PrivCo's Hamadeh.

"Twitter will try to take every lesson from what Facebook did, every mistake, and try to do the opposite," he said.

An offering may not be ripe until 2014, but it is expected to lay the groundwork this year, Hamadeh expects.

"Twitter is just starting to introduce monetization," said Hamadeh. "It needs three to four quarters to show that it's working."

gsloane@nypost.com


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Sandy shutters South Street mainstay

Sandy is shutting down another kitchen in southern Manhattan.

Rustic Italian eatery Barbarini Alimentari at 225 Front St. in the South Street Seaport is closing its doors after the storm buried perishables and furniture under six feet of water.

"We had no flood insurance," said co-owner Stefano Barbagallo. "We lost $1 million and seven years of hard work."

Barbagallo said it would take another four to six months before the restaurant could re-open — the building dates from the early 19th century — and that's too long a wait.

The super storm has been a huge hit to restaurants, which operate on already thin margins, in the flood zone.

Barbagallo tells Side Dish that he loves the neighborhood and will stay in the Financial District but that he wants to be at least three blocks inland.

"I love the area and we built up a following but we can't risk being in Zone A again," Barbagallo said.

His next project will be without a partner: a smaller space that he will operate with his wife. His sister-in-law, Douglas Elliman broker Monica Luque, is looking for a new space, perhaps a small building to purchase or a piece of one, she said.

"He has a lot of faith in the area. He was a pioneer and brought so much happiness there with his restaurant," Luque said.

*

SIGHTING: Christy Turlington at Aamanns-Copenhagen on Laight Street, chowing down on house-baked rolls and coffee while Zac Posen and David Schwimmer popped in to check out the new Danish hot spot . . . Usher buying gumbo soup at Dean & DeLuca at Rockefeller Center over Christmas — and tipping $1.

jkeil@nypost.com


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