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Recent Articles from Kevin B. Murray
Money Management: Despite strong economy, federal deficit soars
One item that seems to have been forgotten, or at least received very little press coverage, is that despite having a very strong economy, the federal deficit is going up at a time it would be expected to be dropping. Recently it was announced that in fiscal year 2018, the federal deficit rose to its […]
Keeping Your Balance: Making your (financial check) list and checking it twice
It’s October. The Buffalo Bills are on yet another Super Bowl run, the leaves are turning, and we have weeks with highs approaching 80 degrees and lows reaching the 30s. These are the telltale signs that now is the time to begin working through your year-end financial planning checklist. Let’s ensure your fiscal house is […]
Money Management: How to plan for inflation in retirement
Economists define inflation as “a general increase in prices and fall in purchasing power of money.” In recent years inflation has not been a hot topic since it has been relatively tame — in fact, it has averaged less than 2% over the last decade. Many believe that with rates of inflation that low, you […]
Money Management: A bear market is lurking! But may be far off in time
As the current bull market nears its ninth year, the question is: are we near the end of the long bull market? A bear market is generally considered to be a 20 percent or larger decline in the markets. If we use history as our guide, it is not a question of if we are […]
Money Management: Retirement decisions — why, when and how
Throughout our life we make many decisions that have an impact on our future. How much and what type of schooling/training we receive impacts the jobs for which we may be qualified. Our initial job and the industry it is in impacts our future employment prospects. Our decision to marry or to have children has […]
Money Management: Covered call writing can provide lower risk, additional income
Writing (selling) covered calls is a conservative strategy that can enhance the income from one’s portfolio, while reducing the portfolio’s overall risk. Option strategies are often viewed as being very “risky,” while writing covered calls is an option strategy that takes the conservative side of the trade while the option’s buyer is taking the risky […]
Money Management: The history and future of minimum wage laws
The first federal minimum wage was set at 25 cents in 1938. Adjusted for inflation, that would be worth $4.13 today. The rate has been adjusted upwards many times since then, most recently in July 2009. The current federal minimum wage is $7.25. While the “unadjusted minimum wage rate” is higher than it has ever […]
Social Security strategy: ‘File & Suspend’ available for a limited time only
Social Security is a part of all of our retirement plans. It is also an area where many make decisions without knowing and evaluating all the options available to them. Often decisions are made that cost retirees a considerable amount in terms of lower lifetime benefits than they could have received. The Budget Act of […]
Western District Case Notes
(This article originally appeared in The Bulletin, the official publication of the Bar Association of Erie County. It is reprinted here with permission.) Removal In Iqbal v. Normandin Transit, Inc., No. 15-CV-746A (July 1, 2016), plaintiff commenced an action in state court to recover damages allegedly resulting from a motor vehicle accident. Upon removal, plaintiff […]
Money Matters: On the semiannual report to Congress
The Federal Reserve System is the central banking system of the United States. It was created by the Federal Reserve Act in 2013. The Fed was set up in response to a series of financial panics, particularly a severe panic in 1907. The key objectives for the Fed are: Maximizing employment, stabilizing prices, and moderating […]
Money Management: Globalization’s impact on labor’s share of national income
The second quarter of 2015 has seen job openings reach new highs as unemployment continues its downward trend. Yet the United States Bureau of labor Statistics just reported that the Employment Cost Index (the broadest measure of labor costs), went up in the second quarter by the smallest amount since 1982, the year they first […]
Money Management: Planning for Social Security in retirement
Almost every American worker will have or has Social Security as part of their retirement plan. The question all must answer is at what age they should start receiving retirement benefits. As with many financial decisions, the answer is it depends. Your individual and family situation differs from others and hence what is best for […]
Case Digests
- Second Circuit – Equal Pay Act: Eisenhauer v. Culinary Institute of America
- Court of Appeals – Rape Shield Law: People v. Cerda
- Fourth Department – Mootness doctrine: Medical Professionals for Informed Consent, Inc. v. Bassett
- Court of Appeals – Speedy trial: People v. Justice A.
- Fourth Department – Traffic stop: People v. McMillon
- Second Circuit – Fair Labor Standards Act: Abbott v. Comme Des Garcons, Ltd.
- Second Circuit – Plea agreements: Cook v. United States
- Fourth Department: Statute of limitations: Marino v. Weiler
- Fourth Department – Nail and mail service: Rebutting presumption of service L&W Supply Corporation v. Built-Rite Drywall Corp, et al
- Fourth Department – Mental Hygiene Law: Charles L. v. State of New York
- Second Circuit – Medicaid and Medicare certification: U.S. ex rel. Quartararo v. Cath. Health Sys. Of Long Island Inc.
- Fourth Department – Waiver of indictment: People v. King
Law News
- Split court affirms gun conviction
- N.Y. Court of Appeals reverses gun conviction
- NY board approves cannabis lawsuit settlements, paves way for retail dispensaries
- NY Court of Appeals reverses murder conviction because of illegal police search
- NY Court of Appeals reverses gun conviction over ineffective counsel
- Split court affirms gun conviction, finding search and arrest were legal
- NY appeals court vacates drug conviction over illegal police search
- Split Court of Appeals strips Police Accountability Board of disciplinary power
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