This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

State Senator Nozzolio And Assembly Minority Leader Brian Kolb Oppose Mayor Bloomberg's Ban On Polystyrene Foam

Letter to Mayor Details Costs to State Businesses and Jobs, Urges Recycling

NEW YORK, April 2, 2013 /PRNewswire-USNewswire/ -- State Senator Michael F. Nozzolio and Assembly Minority Leader Brian Kolb today urged New York City Mayor Michael Bloomberg and the City Council to reconsider a potential ban on polystyrene foam foodservice.  They have both sent official letters to Mayor Mike Bloomberg highlighting the negative effects on state-wide businesses and the 1,200 polystyrene jobs in New York State that will be in jeopardy if such a ban is instituted in the five boroughs.      

"A ban in New York City would have an immediate and dire effect on the in-state businesses that supply New York City restaurants and food service establishments with these containers," said Senator Nozzolio. "This ban will not only harm businesses and consumers in Mayor Bloomberg's backyard – it will also destroy jobs in mine.  I urge the Mayor and the City Council to explore the option of recycling instead of a ban."

Because of its light weight and low price, most polystyrene foam foodservice is manufactured in close proximity to its final market.  This means that a ban in New York City will have a deep impact on New York companies that manufacture the foam.  The largest manufacturer, which employs over 1,000 New Yorkers, is located in Senator Nozzolio and Assemblyman Kolb's district.

The letter comes after the release of an economic impact study which shows the proposed ban will cost the city and state's businesses, consumers, agencies and tax payers nearly $500 million each year. 

"The impact of a ban on polystyrene foam in New York City would be devastating for localities across the state – especially in my district, where manufacturing is an economic engine," Leader Kolb said.  "At a time when New York still faces steep fiscal challenges, we cannot afford to introduce measures that eliminate jobs, increase regulatory hurdles and drive expenses up for taxpayers.  I encourage the Mayor and City Council to consider alternatives that would preserve jobs and maintain financial stability in our communities." 

Paper products, such as coffee cups and paper food service items, are the most common alternative to foam and cannot be recycled according to the City of New York Department of Sanitation's own website.  These products also do not insulate as well, leading to double cupping or the use of a sleeve, which actually increases solid waste and would further increase costs.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,135.72 +38.82 0.21%
S&P 500 2,101.04 +2.51 0.12%
NASDAQ 4,982.8090 +15.6680 0.32%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs