N.Y. City's Kostik Solid Behind the Scenes
Carol Kostik, co-winner of the Freda Johnson award from Northeast Women in Public Finance, has managed more than $90 billion of New York City debt over 10 years.
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Alaska Gov. Bill Walker has announced two new appointments to the Alaska Gasline Development Corporation Board of Directors, the group responsible for overseeing the agency's efforts to build a natural gas pipeline the governor says is critical to Alaska's financial future. more »
Veteran bond attorney Jeremy A. Spector has been named executive director and secretary of the New Jersey Educational Facilities Authority (NJEFA). more »
Standard & Poor's Ratings Services said it lowered its long-term rating and underlying rating on Homewood-Flossmoor Park District, Ill.'s general obligation debt three notches to BBB-plus from A-plus. more »
The Nassau Interim Finance Authority (NIFA) has brought in a veteran New York City finance official to help the Long Island county iron out an acceptable 2016 budget plan. more »
Puerto Rico Gov. Alejandro García Padilla announced Friday that he was replacing his chief of staff. more »
Veronique ‘Ronnie’ Hakim returns as MTA New York City Transit president after 18 months as NJ Transit executive director. more »
Kentucky Gov.-elect Matt Bevin appointed public finance attorney Scott Brinkman as secretary of the Executive Cabinet. more »
Pat Foye, executive director of the Port Authority of New York and New Jersey, is planning to step down, the agency announced Thursday. more »
Justin Pica plans to leave the Municipal Securities Rulemaking Board next month after more than 15 years to join the Securities and Exchange Commission’s trading and markets division in January. more »
The National Federation of Municipal Analysts has announced two winners of its annual Peter Fugiel Scholarship and acknowledged three honorable mentions. more »
President Obama has nominated Hester Maria Peirce to become a Securities and Exchange Commission member for a five-year term ending on June 5, 2021, in addition to serving the remainder of former Commissioner Daniel Gallagher’s term through June 6 of next year. more »
Chicago-based Mesirow Financial has hired veteran infrastructure banker and public-private partnership specialist Walter Kulakowski in its New York office. more »
Kym Arnone has joined Jefferies LLC to jointly head its municipal investment banking business with Neil Flanagan as part of an effort to expand the firm’s municipal securities business. more »

Career Zone


New York State Assemblyman Phillip Goldfeder, D-Queens, examines outer-borough growth and transit needs in New York City, as well as efforts to harden its water-exposed neighborhoods.

The notion of option-adjusted spread (OAS) is the standard analytical tool for taxable fixed income securities. It is also making inroads into the muni market. Unfortunately the usual implementation for munis is flawed, rendering the results virtually meaningless. So it is understandable that many muni professionals shy away from OAS in favor of the archaic ‘yield-to-worst’ approach. Correct implementation would undoubtedly attract converts.

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