The quest for quality of life may one day dethrone cities like New York and London

New York and London are still the most global cities of the world followed by Paris and Tokyo according to A.T Kearney’s biennial ranking. With technology making the location a less important indicator in ranking cities, quality of life plays a major role in determining city’s global prominence. The quest for quality of life may one day dethrone these cities. Vienna which is ranked 13th in Kearney’s survey has been ranked first in Mercer’s quality of living survey. There are major differences in the points of view of these two surveys.

Kearney’s survey takes into account the business activity, human capital, information exchange and political engagement of the cities as indicators of global prominence. These indicators are usually characteristic of big cities so the dominance of metropolises is natural in this survey. This suggests that the top cities like NY and London will not be dethroned at least for a decade or two. However the survey reckons emerging cities like Shanghai and Beijing could reach the top of the list in the future. In such cities, rising wealth, expanding infrastructure and improving business conditions may well outweigh the negatives like pollution and the political environment.

New York cuts pension benefits for public workers

The New York Legislature on Thursday passed a plan supported by Gov. Andrew M. Cuomo that will cut retirement benefits for future State and Local government workers. This plan will save over $80 billion for the state and local governments over the next 30 years. This would largely affect the middle class, blasted the union officials. Spiraling pension obligations are one of the top financial problems faced by State and Local governments across the United States. For New York’s municipalities, pension costs have risen more than 650 percent since 2002 to $12.2 billion in 2012, Cuomo said.

The new law creates a sixth tier of smaller benefits  for future State and local Government workers ranging from 3  percent for who earn $45,000 to 6 percent whose salary is $100,000 per annum. Further, the average salary taken into consideration for calculating benefits will be last five years instead of three and only $15,000 of a workers overtime salary will be taken for adjusting inflation.

We Are Headed to a Super Bowl Rematch

The NFL had an exciting Sunday.  New England faced Baltimore, while New York battled San Francisco in a defensive showdown that went to overtime.  Both were heated contests with the winner advancing to the Super Bowl in Indianapolis.  It turns out the Patriots and the Giants will be meeting again in one of the grandest games on earth for the second time in five years.  The losing Ravens and 49ers were both teams that fought hard all the way to the end but it just wasn’t there time yet to meet the world on center stage at the Super Bowl.  The Ravens’ ending was heartbreaking with the field gold kicker botching the attempt that wasn’t from a far distance.  The Giants loss was also a tough one to swallow if you were a San Francisco fan with a fumble coming at the end on a 49er kickoff return, which was subsequently followed by a game winning field goal on the Giants part.

 

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