most of the time, we got innocent civilians hiding.

so, think twice next time you wanna draw blood. cause let me tell you, when you decide to draw first blood…it will come back to you 10 fold.

me, i must be a god damn cat cause I damn near used all my 9 lives. but, I can’t stay in same place for 4 hrs.

SAS

thats why we got basically high tech video game technology.

It removes the emotional attachment and stess inducement.

we got blokes out in bases that just push a button, and boom… there goes half the town, and then they go off and drink a 7up. but yes, always a need for ground troops.

SAS

Clot: what happens to HOA liens if the house is foreclosed – the new owner has to pay them on closing, banks pays them, or they are discharged?

yup.

why you think all your water and food is becoming toxic, and we are being drugged either legal or illegal, and sport & entertainment is turning you into a zombie 24/7.

and you think cash is king? hark no…

Propaganda & advertizement is king.
SAS

http://www.taxfoundation.org/publications/show/250.html

I can’t do this…last go around for me….you may entertain yourself with data trolling but I don’t.

“If the quintile (5th’s) income limit moves up or down, that means that the income for that group has moved up or down.”

Not correct. The income limit is nothing more than the income of the last person to make it into the quintile (or any other -ile one chooses). Let’s use a simple extreme to prove the point. Two consecutive years, same amount of total aggregate income, same amount of aggregate income in the quintiles, same population. In year 1, everyone in the top quintile has the same income, say $100k. In year two, the top earner in the group moves to $105k and the last earner in the quintile moves to $95k. Income limit has decreased 5% while aggregate income has stayed the same. Allow changes in the other variables held constant above and one can construct a dozen different scenarios where income limit and aggregate AGI for any -ile move in different directions.

“This table directly contradicts your claims. This table shows the % of gross national income that each fifth of the population receives as collected by the US census bureau.”

Missing my point totally. My point is specifically that the percentage of income earned by any one group relative to another (income disparity) should be irrelevant in an a society where all groups’ incomes are rising on a real basis. I am not arguing the data in the table you present but asserting that the measure itself is irrelevant.

Stated differently, if the $50k a year bus driver is getting 5% annual raises does it really matter to him if Sergei Brin gets $1B or $2B? Or a CEO $2m or $1m? They are in totally different markets.

What does affect the bus driver (which you rightly try to touch on earlier) is his standard of living, which at his income is more sucsepticle to bad government policies and outside shocks than higher income groups.

That vulnerability, however, does not support trying to limit income disparity (it can best be addressed on a case by case basis with a social safety net). Putting a bonus limit on the CEO so that he earns no more than $1m will not cause the bus driver to earn more than $50k.

As an aside I would not have expected to see the income growth trends in nearly all the percentile breakpoints that I found, particularly the lower percentiles. Conditioned as everyone else I would have expected rapid income growth at the higher percentiles and declining (or negative) revenue growth at the lower percentiles.

Despite the data presenting the opposite, which approximates a situation similar to the one I posit, my argument does not require it. My assertion is a logical argument assuming certain circumstances that may or may not exist.

I was surprised to see that incomes at nearly all percentiles over most of the time had actually grown so consistently (Table 3) particularly given the growing income disparity in Table 5.

Again, the Left will be appalled at the trends in Table 5 but they present little actual concern so long as real earnings growth exists.

We can have a whole other discussion on how government policies (taxes) and standard of living factor in, but it needs to be over some Grey Geese.

You only have until May 1st the year in which your town undergoes a revaluation. The million threshold is for direct appeal to the state tax court. If you are assessed under, you must appeal to the county board of taxation.

Gator supplied me with this info.

I spent tonight at a town council meeting telling them all to their faces that they are smoking crack.

293.chicagofinance says:
Your comment is awaiting moderation.

February 9, 2010 at 11:07 pm

Developer of New Jersey Entertainment Complex Seeks Financing as Report for Governor Floats Idea of Surrendering Site

By A.D. PRUITT And LINGLING WEI

Bloomberg News The developers offer a tour of the Xanadu retail and entertainment complex in New Jersey in March 2008.
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As the developer of the long-delayed Xanadu project in New Jersey struggles to line up new financiers and partners, advisers to the state’s new governor have floated another possibility if the $2 billion project can’t get its act together: Surrender it back to the state.

Since taking office in January, Gov. Chris Christie has made it clear he plans to get tough with the whimsically named 2.3-million-square-foot complex that was supposed to open in November 2008, complete with an 800-foot indoor ski slope and the largest Ferris wheel in North America. A report prepared for his transition team labeled Xanadu’s business model a failure and recommended the state, which owns the land, “needs to engage the owners…to either complete and open, or surrender the property.”

The increasing pressure from the state comes as Xanadu’s development partnership, led by Colony Capital, has been negotiating with potential partners including Related Cos., headed by New York real-estate mogul Stephen Ross, a person with knowledge of the matter said. A potential partner would be “additive” to the partnership’s expertise, this person said.

Carl Goldberg, chairman of the New Jersey Sports and Exposition Authority, which owns the land, said Related is in “serious talks with Colony to acquire a majority interest” in the development. He also said if such an acquisition materializes, Related would likely announce a new completion date for Xanadu.

One of the Colony group’s biggest problems is replacing the $500 million in financing that was cut off as a result of the bankruptcy filings of its original lenders, Lehman Brothers Holdings Inc. and Capmark Financial Group Inc. A new partner may also bring in the capital needed to restart the entertainment and retail project, which halted construction in early 2009. Any new capital would be the first in line to be repaid.

A spokeswoman for Related declined to comment. Related, the developer of New York’s Time Warner Center, has been brought in to help rescue other troubled developments. In 2008, for example, Deutsche Bank signed contracts with Related to take over the Cosmopolitan project in Las Vegas as new developer.

Today, the Xanadu project sits mostly completed in East Rutherford as part of a proposed retail and entertainment center that is adjacent to the IZOD Center where the NBA’s Nets play.

It was envisioned as one of the top shopping destinations in the country, but some industry experts say the development was ill-conceived from the beginning.

The project was the brainchild in 2004 of Mills Corp., a mall developer that was acquired in 2007 by Simon Property Group and Farallon Capital Management in the wake of an accounting scandal. Before that deal, the Colony-led group, also including German fund KanAm and Dune Capital Management, took over the Xanadu project from Mills for $500 million..

“I always thought it was a crazy idea,” says Carlos Rodrigues, the New Jersey director for the Regional Plan Association. “We don’t advocate free-standing destinations that are not part of the larger community.” He said the development would be difficult to access without a car and that northern New Jersey is already saturated with stores.

Xanadu’s developers paid the New Jersey Sports and Exposition Authority an initial $160 million as part of a ground lease agreement. Those funds were an advance payment for the first 15 years. Thereafter, the authority was slated to be paid a minimum of $95 million in staggered payments through 2026.

But experts believe the state could still make a grab for the complex if the delay persists. “It is customary in any kind of contract of this type to have an escape clause to allow the public agency to terminate the contractual relationship if the private party is not performing,” says Mr. Rodrigues. A commission convened by Gov. Christie to look into Xanadu, among other things, is slated to make its policy recommendation by the end of June, says Mike Drewniak, a spokesman for the governor. “It’s essentially a mammoth commercial enterprise that is laying fallow,” Mr. Drewniak says. “This is one of the most valuable properties in the state of New Jersey. Having it sitting there with its financing in tatters is not doing anybody any good or use, and how long should that go on?”

Xanadu is about 70% rented, according to the transition team’s report. Among the major tenants are science museum WonderWorks, a LEGOLAND Discovery Centre and a Cabela’s sporting-goods store.

However, if financing doesn’t come through quickly enough, tenants have the option to pull out via an “escape clause” that is dependent on the strength of leasing, the transition report noted.

Write to Lingling Wei at lingling.wei@dowjones.com

238.Pat says:
February 9, 2010 at 8:01 pm
This is what you’re going to get:
http://www.youtube.com/watch?v=mJ_OL-ktp0g

Disagree with that statement. I do not mind talking about it and my plans are made.