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John Sampson’s View from the Senate

It has been one year since State Senator John Sampson became Conference Leader through a negotiated settlement from last summer’s attempted coup. Representing the 19th Senatorial District for 13 years, Sampson has been a pivotal agent during the transition from Republican to Democratic control. Under his leadership, the Senate has instituted long-awaited reforms and recently finalized settlement of a $136 billion budget.
Sampson has seen the days when “special interests were put ahead of the people’s interest ” under the Republican majority. During the 44 years of Republican control, “They taxed, borrowed and eliminated job growth throughout the state of New York,” Sampson said. “This was during prosperous times.” The disparity and lack of equity was stark: “In the last 10 years, the Republicans received about one billion dollars in capital. We received absolutely nothing. This impacts capitol construction, capital movement, but most important, bricks and mortars, more in their districts than in our communities. Capital dollars make jobs,” he said.
Under Sampson’s leadership, the Senate crafted ethics reform legislation. “What is mind-boggling is that all of a sudden Republicans have become (new reform) advocates,” Senator Sampson said.  “But when they were in control, they did not want to push ethics reform at all. All of a sudden they got an epiphany when they are in the minority, now they have to push for ethics reform because of what happened to Joe Bruno.” He asked, “How can you credit a group of individuals who suppressed anything to do with ethics reform while they were in control of the chamber for the last 44 years?”
The Senate pushed one of the strongest ethics bills in years through the NYS Senate, which passed. The governor vetoed. “When we had the opportunity to override it, Senate Democrats voted in favor. We needed 10 Republicans. Not one Republican voted in favor of overriding the governor’s veto dealing with ethics reform,” said Sampson. He admits it was a first step towards ethics reform. Looking at the political landscape, Sampson sees pockets of cynicism.  “All of a sudden when former mayor Ed Koch is advocating changing the rules and promoting this whole ethics reform issue, all of a sudden Republicans sign onto a pledge.  It is one thing to sign onto a pledge, it is another thing to make sure that you support legislation that encompasses everything in that pledge. Don’t judge someone based upon rhetoric, judge someone based upon results,” he said. “If you look at the prior behavior in the past, and the most recent behavior of the Senate Republicans, it shows you they are not interested in ethics reform at all.”
Sampson said he respects former Mayor Koch “and I applaud him for what he is trying to do. We have been trying to do the same things by trying to pass one of the most strict ethics reform bills that has come out of the NYS Senate.” Referring to Koch’s NY Uprising  reform proposals, Senator Sampson said, “I would love to work with former mayor Koch, because some of the issues he is supporting I am truly in support of.”
But the state senator has reservations. “I have no problem with an independent commission, but we have to look at this,” Sampson said. If we are asking an independent commission to do redistricting, “these are unelected individuals who are bureaucrats who are going to make these decisions,” Sampson explained. “One of the reasons we are elected by the people is to make such decisions. The question is are we violating our accountability to the voters? They put us in the position to make those decisions.”
Sampson knows he “can be fair and accountable when it comes to [district] dividing lines. But my issue is, the Republicans who signed onto [the NY Uprising pledge], they had an opportunity for the last 44 years – four decades – to do reapportionment. They could have been equitable in the way they have drawn lines. But they tend to gerrymander in order for them to stay in power. But all of a sudden, everybody gets an epiphany that now we have to change the rules. Because the Democrats are in control. I think we can be fair, we can be objective, but most of all, we will be accountable to the people of the state of NY to draw lines in accordance to the people to be represented.”
“Tremendous” is how Senator Sampson characterizes the impact of changing how prison inmates are counted. “Now they can no longer use those individuals with respect to reapportionment. They have to allocate those bodies to the districts where they came from,” he said.
According to the senator, upstate regions are not being ignored with the change. “The Senate Democrats are about equity and creating job development and opportunities,” a sharp departure from when the Republicans were in control, and there was a mass exodus from upstate NY of business interests. “They don’t want to talk about those things,” Sampson said. “We are bringing business to upstate NY. We brought in automotive manufacturing. We are assisting chocolate manufacturing in Senator Aubertine’s district in upstate NY.” Sampson’s firm declaration: “We are bringing business to the state of NY. We are locating them upstate so they do not have to rely on a prison to create economic development. Real manufacturing jobs to create development. Making sure we have those capital dollars to invest in infrastructure – roads and bridges – to create economic development. That’s what our conference is all about. We want to give the people of upstate a viable opportunity to earn.”
Demonstrating his commitment to the whole state, Sampson offered committee chairmanships to three senators; two out of the three accepted. “The Republicans, in their 44 years, only did that once to a Senate Democrat,” he said. “In our first year in the majority, we felt it was imperative to extend our hands to our colleagues on the other side of the a isle and offer them chairmanships. This is not about partisanship anymore. In this economic climate, we have to work in a bipartisan atmosphere.”
On Tuesday, President Obama signed a $26 billion jobs bill. Senator Sampson will be back in Albany next week to oversee allocation of New York State’s share.

AT HOME Summer: From Brooklyn to Bali …Part One

It was Taaeba Fattah’s account of her March trip to Bali with her mother, Nadia, and friends Sheila Szklanny and Leslie Wilks that turned us on to Elizabeth Gilbert’s Eat Pray Love bestseller that’s enjoying a new surge of interest due to the Columbia Pictures film of the same title starring Julia Roberts and premiering Friday (13). 
Images of the Fattahs and friends grace these pages, and the personal experience they told us about their visit impressed us.
Yesterday, I plodded through Gilbert’s (partially funded) year-long sojourn to three countries in search of mind, heart and body (not necessarily in that order) refreshment.  She finds nourishment eating through Italy and praying through India, but she really scores in Bali, as much for finding a love-mate as for reconnecting with a soul mate, the elderly healer and reader Ketut Liyer.
Unlike the miles of women across the world who have begun to retrace Ms. Gilbert’s footsteps in hopes of finding self and an orgasmic happy ending, Taaeba, an equal opportunity employment specialist; Nadia, an arts consultant, and educators Sheila and Leslie are inveterate travelers; for them, the happy ending is the travel: they’re not getting away from something or in a state of seeking something – although they love to shop.  
“I love learning about other cultures, enjoying changing landscapes,” says Nadia.   Which is exactly what they were doing when the Fattah ladies first met Sheila and Leslie several years ago on an Egypt-bound cruise ship.   It turned out that Sheila and the Fattahs live within blocks of each other in Brooklyn, the place they call comfort zone.  It’s been “Have Passports, Will Travel Together” ever since.  (Leslie lives in North Carolina.)
Since then, the Friends have racked up a combined hundreds of thousands of miles on train, bus and plane, traveling roundtrip to Morocco, Tunisia, Costa Rica, Rome, Florence, the Phillipines and Hong Kong.  Last year, they all visited Senegal – just after Taaeba and Nadia returned from Cartagena.
Next year, Nadia is pitching for a group trip to Bahia, where she’s visited at least five times. “It’s multisensual, great people, good food, nice breezes, wonderful to wake up to.”   A graduate of Pratt Institute, Nadia reveals she has traveled since her early teens.  She now visits galleries in different countries and is a collector of fabrics from different locales.
The ladies arrived in Bali, March 28,and  stayed 8 glorious days, before departing for Taiwan.
When the ladies arrived, they wanted to go into the villages – away from the tourists – where the people live, the food is homecooked and the culture is active and real. Taaeba told Our Time Press that when she and the ladies are traveling with a tour group, they always separate themselves, create their own itinerary and go off on their own personal tour for a different experience.  The results: they wind up seeing more places, having more exciting adventures and meeting different people, unfettered and unencumbered.  In Bali, they were part of a group of more than 100 people – but not for long.
The tour guide happened to mention that Julia Roberts had just filmed Eat Pray Love days before, and there was a medicine man she met in Ubud. It dawned on the women they could obtain their own personal readings from Bali healer Ketut Liyer, central to Gilbert’s true-life story. They hired a livery and without any prearrangements or an appointment to meet with Ketut, they set out for his residence, determined to get their readings. 
Once they arrived, an hospitable and gracious Ketut made himself available. Yet, at the time, no one could foresee that Ketut would receive a special reading, too.  From Taaeba.
“It was meant to be – the trip to Bali and the visit to Ketut,” said Taaeba, adding,”My grandmother loved ladybugs and a very rare deep-orange colored one, positioned itself outside the rear window of the cab, passenger side,where my mother (Nadia) sat, and accompanied us all the way from the hotel to Ketut’s abode. We saw it as a lucky charm; my grandmother was with us.
“We entered Ketut’s sanctuary through an ornate brick gate, and walked past structures, statues and an altar, then through a mini-botanic garden of lush plants and trees,” recalled Nadia. “At first we did not see him.  He was sitting on the porch partially obscured by the sweep of tree fronds on the porch of his villa.  He sat to the left, and smiled as though he knew us.
“Since there were two or three others ahead of us, we wandered around, and saw all the spaces in his house. There were exotic birds and monkeys throughout his compound.”
After the reading, Ketut asked Taaeba, through his broken English, if she could read passages from Gilbert’s book in which his name appeared.  He explained that Eat Pray Love had not been translated to Balinese, so he hadn’t read the book.  So she opened it to a page that featured him prominently, and began reading to him.  She says he looked shocked – pleasantly so. “I spoke slowly and noticed that he smiled broadly whenever I mentioned his name.  It was quite an engaging moment.”
Taaeba asked if he would sign her paperback book.  “I thought it would be fascinating to have his autograph on one of the pages that fascinated him. He signed his name on Chapter 75 in the book, which begins “So this is how it comes to pass” — where Gilbert starts her Bali journey in earnest. 
“He did not have a concept of ‘giving an autograph.’  It appeared he had no idea just how immensely famous he is, although he says business has picked up since the filming.”
Just before Taaeba commenced to read passages, she beckoned to her mother to take still pictures. Nadia actually videotaped it.  In a future issue, Nadia’s images of the Bali landscape and the Liyers’ home will be featured along with Taaeba’s recommendations as to where one can go in Brooklyn for a gloriously inexpensive and rich Bali experience. 
Taaeba sees Gilbert’s book as having relevance to everyone.   And, like Gilbert, she assesses that home ultimately is something carried inside of us.  “I saw real beauty in the people there. They fascinated us, and they were fascinated by us.  They are used to seeing the stereotypes presented by television and videos. We did not fit those images.
“And there was something else.  My perception of poverty has changed because of this trip.  What is poor? And who is really poor?  I know there are some who are suffering, although we did not see this in Bali. 
“On the whole, these people are very rich – in their culture and in their values.  All of the children smiled regardless of their situation.  They are not a material people; there’s no real technology.  Everything is natural. They go to markets for their food.  They daily eat fresh fruit and vegetables.  Nothing canned or frozen. They are wealthy, no one starves.
“Something happens when we tourists arrive with our ‘culture.’  We create a want for things the host country or village does not need.  Sometimes . not all the time . with tourism comes greed, violence, transfer of diseases, illnesses.  Sometimes, we disrupt perfectly natural cultural foundations.
“In some ways, Bali is ahead of us.  Soon the world will go back to basics – which is where Bali is, right now. For the short time I was there I see Bali offers us a way of ordering our lives.  We certainly can learn something from the people there, the least of which is how to make sense of where we are in the world.
“Ketut, they say, is between 90 and 100.  He is ageless, and he has such a beautiful handwriting. He is not weak.  He is a thinker.  He has good humor. We learned so much from him, and I do believe he learned from us, too.”

Comptroller Liu Awards Management of $962 Million Bond Sale to Loop Capital Markets

Our Time Press Interviews  John Liu Comptroller, City of New York.

Comptroller Liu, can you tell us what’s different about this process and what has happened in the past?
Would you believe that the way the city sells bonds, billions  and billions of dollars each year is done by rotation, meaning a few of these really large companies, household names, actually take turns being the lead underwriter for these bond sales. There’s a fair amount of profit involved in being the lead underwriter. The problem with this method is that it’s the same people taking turns. I never understood why that had to be the case. So this particular bond deal, which ultimately turned out to be nearly $1 billion, was done by what is formally called a bakeoff, which is instead of having the same people take turns and just calling out the next one in line, we open it up to 14 companies who we have done business with and have a certain track record with the city and let them put proposals to be the lead underwriter.
It was competitive because all these proposals were evaluated on the merits and in the process the firm that gained the highest evaluation turned out to be a minority-owned firm, Loop Capital.  I’m very happy with the result of this particular bond offering.  First and foremost, it saved our taxpayers $82 million – essentially, this bond offering was a refinancing of previous bonds-secondly, it shows what can be achieved if we open up the process and let everybody get in on the level playing field. And in this case, we opened up the process and gave everybody a chance and a minority firm came out on top.
Is “rotation” a practice in other parts of the city’s contracting as well?
Well, first of all, would you believe they actually call this rotation
‘the Syndicate”.  You can’t make this stuff up.  Apart from that, I don’t know exactly where else in city contracting this concept of rotation occurs but I am going to bet that it is not only in bond underwriting that the city follows this kind of approach.
I really believe that the city’s purchasing power, i.e., the ability to put out billions of dollars worth of contracts every year, has the potential of not only creating jobs overall but to eliminate these historical disparities that exist within our city. Disparities in contracting the minority and women on firms as well as disparities in unemployment rates, where you have communities throughout the city who face much higher unemployment levels than the average for the city.
The question of minority grew out of the Civil Rights Movement, do you break out or can the Comptroller’s office do a break out of the minorities.  Are they African-American, Asian or Latino?
There is not enough of that done. We have a Local Law 129  that sets goals for the different types of business ownerships such are the Latino-owned, African-American, Asian or women-owned.   And they are broken down by type of business ex: construction or professional services, etc. These goals are laid out in  Local Law 129 but it has been nearly impossible to track the city’s progress with regard to compliance with Local Law 129. So this is an issue that is at the top of my priorities and in the absence of readily available information, we are conducting studies in my office to start to get our arms around this problem.
There was a time when Dinkins was mayor that the city had a very strong minority contracting process.  Does the Bloomberg Administration have a system for minority contracting?
Mayor Dinkins was one of the first, if not the absolute first, strong voice in this city to address this issue. The problem being the disparities in minorities getting contracts from the city.  Mayor Dinkins put in place a set of concepts and procedures that in intervening years have not been upheld. What my office is focused on is continuing the legacy that Mayor Dinkins began 20 years ago.
Can you elaborate on what this kind of contract procedure could potentially mean for the Kings County community?
When we open the doors to more minority contracting, we open up economic opportunities to everybody, especially residents in the New York City neighborhoods and let me add that minority-owned firms have a strong track record of hiring people in our neighborhood.
The Department of Education changed how they purchase books.  You mentioned the rotational aspect of bond buying, but the DOE put a high size limit to the companies that can sell books and African-American firms that had been selling to the city were lost.   What kind of rules exist and can you have any effect on those rules that take minority firms out of the process?
It is unclear where else in city contracting this rotational concept is in practice. None-the-less, it is  my goal to ensure that the way the city lets out contracts doesn’t discriminate in any way and, furthermore, that contracts are let out in a way that chips away at historical disparities.    I’m very excited about what’s happening here and this is only the beginning.

Racial Barriers to Highest Level Financial Transactions Shattered in Bond Sale Award

Our Time Press interviews James Reynolds, Jr., CFA. Co-Founder, Chairman and CEO, Loop Capital Markets after winning the New York City $987 million bond sale manager “bakeoff”.Chairman Reynolds, what is the significance of being named manager of this bond offering by New York?
It is very important and significant; New York is one of the single largest issuers of municipal bonds in the world and one of the most sophisticated issuers of municipal bonds in the world. To work with New York City, you are genuinely working with the biggest and the best.  So the opportunity to work with NYC is certainly a challenge and a pleasure. It truly brings out the best in you. It was a very significant transaction for us. When people think of business deals involving nine and ten digits, they usually think of white men and country clubs.  How did you get the business from those mainstream companies?
I think you have to give the credit to Comptroller John Liu and the tone he has set in the office in New York City. You also have to give a significant amount of credit to the staff, specifically Alan Anders in the Mayor’s Office of Management and Budget and Deputy Comptroller Carol Kostik and Mark Kim in Comptroller Liu’s office.
Essentially, what they did was they created an absolutely, totally level playing field. Much like you see in athletics, basketball and baseball for example, where everybody is playing by the same rules. There is no favoritism and no discrimination. What they were able to do was put a situation out there to 14 firms who were asked to solve the exact same problem: how to give NYC a structure that provided them with the optimum financial transaction. The firm that was going to win it was going to be the firm that really knew the city better, knew the city’s finances better, but was also creative. It wasn’t going to be one that was the biggest, it wasn’t going to be the one that played golf with the people that made the decision, it was going to be the one that had the best idea. That was all we asked and I think that what any minority firm asks. Just to give them a level field to work on and let us work.
What difference does it make to people  on the ground in Chicago or in NY between Loop Capital getting the contract versus a mainstream firm?
First of all, I think a publication such as yours, which touches the folks and that is very important to the community, probably wouldn’t write about it if Goldman Sachs got the business. It wouldn’t be as newsworthy.  But I think to us it is a very big deal and there is a  very deep message here and it’s many faceted.
I’m calling you from Italy, I’m on vacation with my family right now but I think it’s so important for you to write about this. And I think it is very important for the comptroller to talk about this because there is a genuinely important message here.  Loop Capital is an African-American-owned firm, I started this firm in 1997 when there were 6 people including my wife, now there’s about 150. We do about $200 billion worth of deals a year.
But the significance of the comptroller putting it out there so that a firm that is a minority- owned business can  have a chance to be a book-runner in a billion-dollar financing which is one of the biggest that the city does.  The significance of that, particularly at this stage of his tenure, I think he is delivering a message to the city of New York in terms of what he stands for and what he’s committed to. So it is totally different with Loop Capital getting it as opposed to JPMorgan or Barclay’s or Goldman Sachs or any of those guys.  The message is so different and I think so meaningful and so motivating for a lot of folks.
When you were in high school what were you thinking of doing and how did you get to the financial industry?
When I came out of high school in the ’70’s I didn’t even know what investment banking was and I don’t think I knew a single African-American at that time who had any clue what investment banking was. We just weren’t involved in that business at that time and, candidly, there are not many of us involved in the business today some forty years later. I wasn’t exposed to any sophisticated level of finance such as that we do today. The only thing I was taught as a kid coming up by my parents was to work hard do the best you can at whatever you’re doing. And to commit yourself to really hard, work and treat people fairly and be honest. Those basic values and virtues.  But never any thoughts about high finance at the level that we’re doing now. It wasn’t until I got out of college that I went on to graduate school to get my MBA that I really started to learn about investment banking.
We have an internship program that brings in about 20-25 high school and college kids every year in New York and Chicago, primarily African-American, and we expose them to investment banking very early. We do that because I don’t want them to learn about it by accident like I did. In this bond that we have working with New York City, we have African-Americans working on this deal that are still in school. They learn and know by the time they get out of high school and college that there is a minority-owned firm doing billion-dollar deals out here and they know how it’s done. We’re committed to teaching.
Speaking of values, did a religious institution play a role in your life at all?
When I was a kid my father was a deacon at the church. I was in the church about 5 days a week.  I did everything, directed the choir, set up the chairs, swept the floors, took the collection. I have a very solid religious background. Those are important values that you learn and that stay’s with you and they stayed with me.
Out of the things that were valued in your home which would you say was the most important?
My father was the hardest-working person I’ve ever met. People think that heroes to a guy like me are celebrities or politicians, but no.  It’s the single parents, the woman who comes in tired after working two jobs, clears the table for them to study.  She does not know where school will lead them, but she knows it’s important for her kids to learn. It was my father that comes home working two jobs that he knows are dead end jobs without a lot of future, but he needs to do it so his children will have a better life. Most days my father would come in and he wouldn’t even take off his clothes, he’d just go to sleep in them and get up and go to work again.  My father was a taxi driver and entrepreneur like me.  He drove a jitney cab.
I want to express my sincere appreciation to New York City, Comptroller Liu and the environment that he is fostering there.  He’s newly elected and this is one of the first big things he’s done in terms of minority inclusion and he’s doing it the right way with minority business and economic power.  It’s not just talk.
I hope the readers find something motivating in this because we set out to work very hard.  We’re just a regular group of people, just hard working folks, and things worked out for us.  We have been calling on New York City since 1998 and I started the firm in 1997.  In 1998, we were at the bottom and now we’re at the top.  Just do the homework, put in the time, learn your craft and in the right circumstances, things will work out for you.

This Week: "Eat, Pray Love" From Brooklyn to Bali

Our Time Press visits Bali through the adventures of our outreach specialist Nadia Fattah, and her daughter Taaeba. The Fattah women traveled to the beautiful Indonesia locale just days after Sony Pictures wrapped location filming for Eat, Pray, Love starring Julia Roberts opening nationwide, this Friday.

Brooklyn's Taaeba Fattah met Bali medicine man Ketut Liyer earlier this year. Ketut is the transitional center of the film based on the best-selling book "Eat, Pray, Love" by Elizabeth Gilbert.

Elizabeth Gilbert’s autobiographical bestseller on which the film is based reveals how the author finds herself through a soul-searching journey to three different places in the world, unique in what they offer her. In Our Time Press, the Brooklyn-based Fattah women, inveterate world travelers, offers a universal message for our readers and the world.

Images of the home of the “medicine man” around which the Bali section of the film centers, will be featured, and later in the month, through the photographs of Barry L. Mason and Hiroki Kobayashi the stunning and stylish Taaeba will show readers where to go — within blocks and a few miles of home — to get the Bali-look. Through Home Shopping Network, OTP reveals, you may not need to leave your home at all. So, here’s to life’s basics: eating, praying and loving.