New York — As states approach budget season amid challenges such as lower property and sales tax revenue and high unemployment, Bloomberg LINK will gather state and municipal leaders and some of the biggest managers of municipal bonds for the Bloomberg State & Municipal Finance 2011 Conference.
Speakers at the Conference, to be held on Wednesday, November 2nd at the Merkin Concert Hall at Kaufman Center in New York City, will look at the most pertinent issues for public sector leaders as budget priorities unfold, debate the outlook for the municipal bond market and pension reform in the wake of the S&P downgrade, and explore where states can find the revenue to bridge the billion dollar gaps in next year’s fiscal budgets.
“Municipal governments are sure to see dramatically reduced levels of state funding this year,” said Robert Bierman, head of Bloomberg LINK. “This conference will look at how this shortfall can be filled in the current economic environment, and what the market climate will mean for investors.”
Participants will also address President Barack Obama’s proposed limits on tax breaks for muni bond investors, how public-private partnerships can create new revenue for cities, how budget battles might play out in the election year ahead, and break down what happened to the prediction that 2011 would bring about hundreds of billions of dollars’ worth of municipal bond defaults.
Key speakers include:
-Janet Cowell, Treasurer, State of North Carolina
-Andy Dillon, Treasurer, State of Michigan
-William C. Fallon, Chief Executive Officer, National Public Finance Guarantee Corporation
-Chipman Flowers, Jr., Treasurer, State of Delaware
-George Friedlander, Managing Director and Senior Municipal Strategist, Citigroup Inc.
-Ronald C. Green, Controller, City of Houston, Texas
-Peter J. Hayes, Managing Director and Head of Municipal Bonds Group, BlackRock Inc.
-Lynnette Kelly Hotchkiss, Executive Director, Municipal Securities Rulemaking Board (MSRB)
-Mark D. Kvamme, Interim CIO and President, JobsOhio; Special Limited Partner, Sequoia Capital
-Patrick McCoy, Director of Finance, Metropolitan Transportation Authority (MTA)
-Kent Morris, Chief Investment Officer, Office of the City Treasurer, City of San Diego, California
-Andrew P. Sidamon-Eristoff, Treasurer, State of New Jersey
-Linda D. Thompson, Mayor, The City of Harrisburg, Pennsylvania
In addition, Bloomberg will unveil three new tools to help states evaluate their economic health — and that of other states:
-The Bloomberg Economic Evaluation of the States (BEES) is a quarterly index of state economic health. Using a set of six variables — tax collections, personal income, employment, home prices, mortgage delinquencies and local company stock performance — the index will provide an effective tool for state officials and investors to make historical and predictive comparisons;
-The State Stock Index will allow users to gauge the performance of equities based in a state; and
-PlacePoint, by Bloomberg Government, will reveal economic and demographic similarities among locations such as states or Congressional districts — helping users find political or business partners that would be likely to support their initiatives.
“BEES, PlacePoint and the stock index are terrific tools for policy-makers, investors and anyone interested in state and local issues to examine places in a real-time, side-by-side format,” said Susan Goldberg, Bloomberg News Executive Editor for State and Local Government.
For more information on the program and speakers, please visit: http://www.bloomberglink.com/munis.
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About Bloomberg LINK
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