Michael Bloomberg, the new mayor of New York, promised to rebuild and renew the city that has been hit by a recession and the nation's worst terrorist attacks.
"The task ahead of him is not easy, Bloomberg has acknowledged. He faces a budget deficit of at least $3 billion next year, and private-sector layoffs in New York topped 100,000 last year...He also suggested that he might shelve, at least temporarily, Giuliani's last-minute attempt to build new stadiums for the Yankees and Mets baseball teams...The homeless census in the city shelters stands at a historical high, major labor contracts for police officers, firefighters and teachers have not been negotiated, and the budget shows billion-dollar deficits for years to come."
Thanks to Abhijeet Chavan
FULL STORY: Bloomberg: New York Will 'Rebuild, Renew'
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