Mansions – Check, Mercedes – Check, Food Stamps … Check

From Bloomberg:

New Jersey’s Richest County Leads Rise in Food Stamp Recipients

New Jersey’s Hunterdon County, the hilly region of horse farms and weekend retreats where last year’s median household income was almost $100,000, is a surprising new face of federal food aid.

The percentage of U.S. households using food stamps has more than doubled in six of the 10 wealthiest counties in the nation as more residents find themselves out of work and unable to sell their homes. The increase among counties with more than 65,000 people was greatest in Hunterdon County, according to Census Bureau data compiled by Bloomberg.

Hunterdon, whose 2010 median household income of $97,874 was the highest in New Jersey and fourth-highest in the U.S, saw food-stamp usage surge 513 percent between 2007 and 2010, although the overall numbers are small.

“Sometimes people will come in a Mercedes,” said Gina Davio, 41, program director of social services at Fisherman’s Mark, a non-profit social-services center in Lambertville, a city of 3,900 on the Delaware River. “Sometimes they come in nothing but Ralph Lauren, but you never know: That may be all they have left.”

Nationwide, requests for emergency food assistance increased over the past year in 25 of 29 cities surveyed by the U.S. Conference of Mayors. Unemployment led the list of reasons for requesting the aid, followed by poverty, low-wage jobs and high housing costs, according to the survey released today. Eighty-eight percent of the cities reported an increase in the number of persons requesting food assistance for the first time.

In Hunterdon County, the number of households enrolled in the Supplemental Nutrition Assistance Program, or SNAP, the $75 billion federal system still widely known as food stamps even after a title change in 2008, increased to 1,424 in 2010 from 232 in 2007.

Neighboring Somerset County, where the late Jacqueline Kennedy Onassis hunted foxes on horseback and the Far Hills steeplechase is a highlight of the social season, increased its caseload almost threefold, to 3,777, from 1,237. That county, a 45-minute drive from the Lincoln Tunnel to midtown Manhattan, has the eighth-highest household income, at $94,270. Morris County, 10th in the national income rank and home to Governor Chris Christie, more than doubled its food-stamp enrollment to 4,076 cases from 1,680.

Hunger in New Jersey’s wealthier areas is apparent at the Food Bank Network of Somerset County in Bridgewater, which is serving about 3,500 individuals this year, a 35 percent increase from 2010.

“So many people out there are coming from the hills — Bernardsville and Basking Ridge, a lot of Bedminster people,” Marie Scannell, the bank’s executive director, said in a phone interview.

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163 Responses to Mansions – Check, Mercedes – Check, Food Stamps … Check

  1. grim says:

    From Newsday:

    Dip in foreclosure filings seen temporary

    Fewer Long Island homeowners got foreclosure-related notices in November than in the previous month or a year earlier, temporary declines that experts said promise little relief to the housing market.

    There were 257 foreclosure-related filings in Nassau County in November, down 12.6 percent from October and 3.4 percent from a year earlier, RealtyTrac, a foreclosure data provider, said in a study released Thursday. Those filings include new cases, auction notices and repossessions.

    In Suffolk there were 141 filings, the California-based foreclosure data provider said, down 30.5 percent from October and 82.5 percent from a year earlier.

    The year-to-year decline results mostly from the lagging effects of documentation problems among lenders and servicers that have delayed filings. “Mortgage servicers have had to re-evaluate their foreclosure procedures,” said Manhattan-based appraiser Jonathan Miller, who tracks local sales. He sees increases in foreclosures on the horizon, and so does Steve Milner, chief executive of U.S. Mortgage Corp., a lender based in Melville. “I think maybe by the end of the first quarter of 2012 we’ll see an increase, because a lot of foreclosures that should have been processed weren’t.”

    That, in turn, suggests a prolonged road to recovery for the housing market. Foreclosed homes have helped to depress prices. The Multiple Listing Service of Long Island reported Tuesday that the median home sale price on Long Island and in Queens was down 5.5 percent last month from a year earlier.

  2. grim says:

    From the Real Deal blog:

    2012: better, but not great housing numbers

    New construction and home sales should improve, but numbers will fall short of a full recovery , said Freddie Mac’s most recent economic outlook report, “Peering Into 2012,” released today.

    The report projects a 3 percent to 5 percent bump in sales year-over-year, driven by a lack of inventory, due to construction stalls since the downturn, and continued low mortgage rates. However, ample demand for distressed properties continues to depress home values, and the report states that the market has likely not yet bottomed out.

    Mortgage rates should remain low, however, with Operation Twist — the Federal Reserve’s program to sell shorter term assets and buy longer-term assets — keeping fixed-rates for 15- through 30-year mortgages low during the first half of the year at least. Rates should climb during the second half of the year, as the program expires, the report says.

    Less single-family refinance activity is projected, but more multi-family originations are expected due to pent-up demand for refinancing for multi-family properties. Credit constraints for many single-family homeowners, and the fact that credit borrowers have already refinanced are cited as reasons for the decline in single-family refinancing.

    But for the economy as a whole, Freddie Mac’s projection is optimistic — economic growth has accelerated in the fourth quarter of 2011 and should come in at between 2.5 and 3 percent, supported by stronger retail sales, a substantial gain compared with the 1.2 percent growth in the first three quarters.

  3. grim says:

    From HousingWire:

    RealtyTrac reports 14% dip in foreclosures, but new wave expected

    Foreclosure filings in the United States edged lower in November, but the potential for a new foreclosure wave in early 2012 is possible, RealtyTrac said.

    The foreclosure data firm says November foreclosure filings declined 3% from October and were down 14% from the year-ago period, with 224,394 postings on the books last month.

    While the November numbers suggest improvements in clearing the inventory of distressed properties, RealtyTrac co-founder James Saccacio sees the potential for another wave of foreclosures in the first part of 2012.

    “Despite a seasonal slowdown similar to what we’ve seen in each of the past four years, November’s numbers suggest a new set of incoming foreclosure waves, many of which may roll into the market as REOs or short sales sometime early next year,” said James Saccacio, co-founder of RealtyTrac. He said the 14% decline is “the smallest annual decrease over the past 12 months, and some bellwether states such as California, Arizona and Massachusetts actually posted year-over-year increases in foreclosure activity in November.”

    Saccacio noted that scheduled foreclosure auctions hit a nine-month high in November. Activity in that segment is tied to an upswing in default notices, which began in August.

    “Many of the new defaults that started the foreclosure process over the past few months are now being scheduled for public foreclosure auction,” Saccacio added.

  4. grim says:

    From Business Insider:

    A Depressing Tour Of A New Jersey Neighborhood Destroyed By Subprime Lending

    Rosa O’Neil would like to know what happened to her neighbors. Over the past decade she’s watched as people she’s lived next to for decades, disappear one by one, until she lives nearly alone on her Irvington, New Jersey street.

    Subprime lending was especially popular in low-income, minority neighborhoods during the boom. Bankers were encouraged to push subprime loans even to people they thought would default. In return they were paid commissions seven-times higher than for ordinary loans.

    “What the [1967] riots didn’t do to Irvington — subprimes did,” Don Baldyga says from behind the wheel of his silver Subaru wagon. Baldyga is a real estate developer with the non-profit Episcopal Community Development (ECD) in Newark, and says that as bad as things are here, they are going to get worse.

    “The shadow demand is immense,” he says, referring to the 50,000 homes his organization believes are headed into foreclosure. “Most of these homes here,” he says, throwing his right hand across the Subaru, are owned by Deutsche Bank. Hundreds of these homes. It surprised us, but I guess it shouldn’t have.”

  5. Confused in NJ says:

    Interesting!

  6. Neanderthal Economist says:

    “Foreclosure is people, not just empty homes.”

  7. cessie718 says:

    Question…I asked a realtor we have used to give me an idea of what our 2b condo in dtw. jersey city would get if we listed it in the spring. I specificly asked for comps. He claimed the unusual/unique layout (which it does kind of have) makes it very hard to comp. So he sent no comps & just what he would list it at. Find a different realtor right? if yes… What kinds of questions should I ask perspective realtors? How do I know if they are good? Can someone recommend someone in dtw. jc.? Thanks

  8. reinvestor101 says:

    I’d rather starve than get some damn food stamps or grow a stinking garden. If I can’t buy it in a damn store like I’m supposed to, I don’t want it. I don’t give a crap if it’s a damn depression, I’m not going to participate or cooperate with it and that will make it go away.

  9. NJ Toast says:

    “Sometimes people will come in a Mercedes,”

    unemployment benefits and welfare should be for people who don’t have the resources for the basics like food. If you have a Benz, cell phone, flat screen, smokes, then you have ample resources available to you and should not receive government sponsored benefits. BTW, when you are receiving gov’t aid, your beverage of choice should be water, not Starbucks.

    Can someone convince me why taxes need to go up – seems like government needs to shrink.

  10. Mike says:

    Good Morning New Jersey

  11. Confused in NJ says:

    9.NJ Toast says:
    December 15, 2011 at 7:44 am
    “Sometimes people will come in a Mercedes,”

    unemployment benefits and welfare should be for people who don’t have the resources for the basics like food. If you have a Benz, cell phone, flat screen, smokes, then you have ample resources available to you and should not receive government sponsored benefits. BTW, when you are receiving gov’t aid, your beverage of choice should be water, not Starbucks.

    Can someone convince me why taxes need to go up – seems like government needs to shrink.

    Seems like Unemployment Benefits is a different category then Food Stamps. Basic Unemployment Benefits is an insurance fund one pays into. Although Federal Extension to two years is more like Welfare and akin to Food Stamps. Personally I think people who are out of work & destitute should be given Free Smokes if they want them considering the real cost is basically Taxes anyway.

  12. gary says:

    We’re in the top of the 5th inning, folks.

  13. gary says:

    In Hunterdon County, the number of households enrolled in food stamps increased to 1,424 in 2010 from 232 in 2007.

    Let me know if you need help with the big words.

  14. gary says:

    yo [15],

    I was just going to post that article. Absolutely striking!

  15. Mike says:

    One of my friend’s customers comes from Bernardsville in his 1995 Chevy. When I asked about him because he definetly doesn’t look like someone who plays or works at the country club for that matter, supposedly he’s living in one of those low income housing units which I never knew they had out there. Not sure of the name for it but wealthy towns are required by law to provide.

  16. gary says:

    The majority of low-income families — 62 percent — spent more than one-third of their earnings on housing, surpassing a common guideline for what is considered affordable.

    And if 50% of America is now classified as low-income, what can we conclude? In other words, if a = b, and b = c, then a = c.

    But it’s a good thing we’re insulated in prestigious North Jersey. Right? Right? Right?

  17. Comrade Nom Deplume says:

    (18) Gary,

    That point goes to my thesis that the dems wanted lower housing prices. Makes me wonder whether the half-hearted efforts by the administration to prop up housing weren’t intentionally designed to fail.

  18. Comrade Nom Deplume says:

    Unsanctioned Holiday GTG TONIGHT!!!

    6:30 to whenever the last drunk leaves.

    Kilkenny House
    112 South Ave. Cranford
    Next to Cranford train sta.

    Note: I will be a tad late.

  19. gary says:

    Nom [19],

    The administration’s efforts weren’t half-hearted, they just don’t have a f*cking clue. Regardless, we’re in the middle innings and now we’re going to see pain in pictures instead of words.

  20. reinvestor101 says:

    I simply don’t believe this. Somebody is lying.

    >>>yo says:
    December 15, 2011 at 9:12 am

    dismal-prospects-1-in-2-americans-are-now-poor-or-low-income

    http://usnews.msnbc.msn.com/_news/2011/12/15/9461848-dismal-prospects-1-in-2-americans-are-now-poor-or-low-income<<&lt;

  21. Bystander says:

    #16,

    They are all mumbo losers. Wait..they can’t even make 70k so they are below mumbo. If only they studied bond yield pricing then they would make 500k a year..ya know chump change. JJ said so.

  22. 30 year realtor says:

    Sure going to be interesting in the urban areas when the REO begins flowing full force. Right now due to high investor interest there is a shortage of well priced inventory in certain urban areas. Investors are looking for small multi’s in need of repair but not complete renovation. Typical acceptable cash on cash return is about 25 to 30% for most investors in these areas.

    How far prices fall (they are very low already) is a function of investor demand in urban areas. The towns with the highest property taxes will be most negatively impacted. As long as high returns are possible there will be buyers.

  23. Anon E. Moose says:

    30-yr [158, prev thread];

    Bergenfield, Dumont, Englewood, Bogota, North Arlington, Ridgefield Park, Elmwood Park, Garfield, Lodi, Wallington, Teaneck and Hackensack would represent the low end of the scale with 2 or 3 bedroom homes in average/good condition (clean and in need of updating) closed sales starting under $200,000.

    Looking at achools in those towns (via schooldigger.com) –

    Bergenfield – Elementary OK, north side only, Middle and High rate 2/5 (the problem seems to be when the north side meets the south side when the kids are combined into one school).

    Teaneck, Englewood, Garfield, Lodi, Bogota, Elmwood Park, Wallington and Hackensack – Better budget for private/parochial schools.

    Dumont – odd geographic variance in performance within the district – 3/5 overall.

    North Arlington – 4/5

    Ridgefield Park – 5/5

    Looks like 3 out of 12, and of course this is God willing and the river don’t rise. I presume we are talking about 60 year old PoS capes on 50×100, but at least if the prices are as you say, its working- to middle-class housing.

  24. JCer says:

    Mike[17], in the Hills which covers some of Basking Ridge and Bernardsville, some of the units were set aside for lower income. For a while some percentage of all new developments out there were being forced to offer a percentage of the units to moderate income families at lower prices.

  25. Anon E. Moose says:

    Gary [13];

    I like to think of it as a defensive tower with archer’s slits – though those are better placed at the corners… However, it’s just a thing – an architechtural appendix, equally useless. Not unique.

  26. gary says:

    Moose [25],

    If you had to pick a “winner” in that group, it would be North Arlington.

  27. gary says:

    30 year fixed mortgage rates are back at a record low of 3.94%.

    What good is it if the carcass is burnt beyond recognition.

  28. Comrade Nom Deplume says:

    (13) gary,

    Well, if a nompounder is gonna have a grain silo, best it hide in plain sight.

  29. gary says:

    I want you all to know that if I sell my house, there’s a stipulation in the contract that you have to feed the squirrels on my property. Why? Because my house is special and it’s different here.

  30. Bystander says:

    Gary,

    Plus the delusion it creates for sellers and realt-hores. People can nSwwow “afford” more. Some listings already attempting it.

  31. Confused in NJ says:

    Different people will take this different ways, but Jeffrey Goldberg tells us that six members of the Walton family (the original owners of WalMart) have more wealth than the bottom 30 % of Americans. Here’s where he says it:

    In 2007, according to the labor economist Sylvia Allegretto, the six Walton family members on the Forbes 400 had a net worth equal to the bottom 30 percent of all Americans.

    And given that he quotes us here at Forbes on the point, he’s almost certainly right.

  32. Bystander says:

    F’in Droid keyboard. Meant now obviously.

  33. Shore Guy says:

    At least there are no poor or low income people in the NY Metro area:

    http://www.cbsnews.com/8301-201_162-57343397/census-data-half-of-u.s-poor-or-low-income/

  34. gary says:

    Bystander,

    Of course, it’s a great time to buy! :o

    Forget the fact that house prices and property taxes have increased 87% in the last decade while wages have flat-lined. The syndicate will find various creative ways to dupe and sedate you.

  35. Bocephus says:

    NJ became prestigious when?

  36. gary says:

    Bocephus,

    I’ve been told that if one cannot afford to buy here then one should consider looking out of state. I’ve also been told that certain towns expect a certain type of people. This all must be true because a real estate “professional” told me so. Thus, Northern Jersey is prestigious. :o

  37. veets (6)-

    Soylent Green is people, too.

    “Foreclosure is people, not just empty homes.”

  38. Juice Box says:

    Jon boy back to fib some more to Congress? Margin call?

    “The chief legal counsel for the New York Fed is expected to say Thursday that as worries mounted over MF Global’s ability to stay afloat, the governmental institution issued the firm a margin call on Oct. 28 — demanding more money from the firm to continue trading with it.”

  39. Wake me up when cellmate Mandingo makes a margin call on Corslime’s ass.

  40. grim says:

    From the WSJ:

    Bernanke Joins Bargain Hunters Who Refinance

    Ben Bernanke lives in a three-bedroom, 2,100-square-foot, attached town house near the Capitol. It has an appraised value of roughly $850,000, not far from the $839,000 he paid for it in 2004. A public record search shows he owes $672,000 on the home, after refinancing his mortgage twice.

    One refinancing was in late 2009. The other was in late September, shortly after the Fed announced a new program, known as “Operation Twist,” which aimed to drive down long-term interest rates.

    Mr. Bernanke holds a 30-year mortgage. He was required to send proof of employment, including pay stubs, before the bank approved the loan, according to a person familiar with the matter.

  41. Shore Guy says:

    Rasmussen poll shocker: Gingrich tanks in Iowa, Romney now on top

    Mitt Romney has never been expected to win Iowa, but he’s taken the lead in that first-in-the-nation contest, a new Rasmussen poll shows. Newt Gingrich is a close second, but he has lost ground.

    snip

    http://www.csmonitor.com/USA/Politics/The-Vote/2011/1215/Rasmussen-poll-shocker-Gingrich-tanks-in-Iowa-Romney-now-on-top

  42. joyce says:

    For certain, we know the federal govt will do nothing to Corzine. The enron executives were also brought in front of the dog and pony show that is a congressional hearing. Yet, they were convicted under state laws.

  43. Happy Renter says:

    “dismal-prospects-1-in-2-americans-are-now-poor-or-low-income”

    Just think of the upside potential! Buy now or be priced out forever!

  44. Happy Renter says:

    [31] “I want you all to know that if I sell my house, there’s a stipulation in the contract that you have to feed the squirrels on my property. Why? Because my house is special and it’s different here.”

    Are you going to leave the unicorns to fend for themselves?

  45. gary says:

    Happy Renter [48],

    The unicorns are all dead in my town, the squirrels are rabid and bit the unicorns. :o

  46. yo says:

    When the Revel mega-casino opens in May, many of its dealers, beverage servers and other customer service workers will be young, attractive and sexy.

    And a policy the casino is implementing will probably keep it that way.

    Applicants are being told they will only have jobs for as little as four years at a time, after which they will have to re-apply. That means competing with younger, fresher faces — a requirement that has never been made before in the 33-year history of casino gambling in Atlantic City.

    Are they asking to be sued for descrimination?

  47. joyce says:

    if a modeling company only hires young thin attractive individuals to model their clothing lines… is that discrimination?

  48. JJ says:

    Hudson City Bancorp Inc.
    Industry: Savings & loans/thrifts

    Total return: -52.0 percent

    Low interest rates are making life difficult for Hudson City Bancorp (HCBK), a New Jersey bank that specializes in jumbo mortgages. Analysts surveyed by Bloomberg estimate that earnings will fall 35 percent in 2011, while net revenue will drop 21 percent.

    Remember when you guys thought Hudson City was the cats meow? Down 51% this year.

  49. JJ says:

    The fatties are work at Motor Vehicles anyhow. Hotters, Canz, Strip Clubs, Cheerleaders, Receptionists, Hostess in Restaurant all are pretty. Heck salesreps for pharma drugs, PSLs, Sports Club Memberships are also that way.

    In fact if you are young there is no reason you should not be somewhat thin and attractive. A 21 fresh out of college applies for a job and is fat with a big hairy mole on their chin you have to go, what up? Plus what about reverse discrimination. Once when I was young, good looking and a sharp dressed man applied for a job at the Fed and some old, ugly nasty women who was hiring took one look at me and was like no way. Young pretty girls in financial services and medical professions have a disadvantage too. So why take away their advantage, plus it wont last long. Guys have it worse, no one takes then seriously till around 28 and then by 34 it starts to go. We only got 5-7 years till rock and roll. I will record my decline in looks below.

    28 – Hot Trendy Club with $20 dollar and long line lets me in for free with no wait
    33 – Hot Trendy Club with $20 dollar cover and long line lets me in with no wait but have to pay
    36 – Hot Trendy Club with $20 dollar cover and long line lets me in after I wait on line and pay $20 cover
    42 – Hot Trendy Club with $20 dollar cover and long line tells me sorry even private party tonight.
    44 – Hot Trendy Club with $20 dollar cover and long line lets me in only if I have two young hot girls on each arm. This I know from Southbeach. I guess young hot girls have no money in Southbeach

    Guys over 45 with no money I wonder how they get into clubs?

    joyce says:
    December 15, 2011 at 1:08 pm
    if a modeling company only hires young thin attractive individuals to model their clothing lines… is that discrimination

  50. yo says:

    #51
    It is, if you are working there already.Let us face it,you can sue anybody.It is up to the jury to award your case.

  51. Comrade Nom Deplume says:

    [51] joyce,

    Goes to business necessity. Used to be that an employer could argue looks=business necessity. Now that field is narrowed a lot.

    In fact, I bet that you could find cases where ugly chicks who worked on tips or commissions sued because the hotties made more than they did. Assume H00ters hires a so-so waitress to work with the hotties because looks are not absolutely required. So-so is bringing in only half of what the hotties bring in cuz no one is tipping her. Can’t sue the customer for discriminating, so you sue the employer for permitting the customer to discriminate.

    That may be a thin beef, but let’s add a fact: Now suppose that hotties agreed to pool tips, but when So-So comes on board, they decide to stop this practice and keep what they collect. Never stated that this was so they didn’t have to subsidize So-So (in fact, they say it’s unrelated, that they stopped because turnover made it difficult) but the timing suggests that they did not want to share with So-So. Different case?

  52. Comrade Nom Deplume says:

    [53] JJ

    “Guys over 45 with no money I wonder how they get into clubs?”

    Easy. Either they introduce the doorman to Uncle Benjamin, or they tell them “I’m JJ, the ultimate male. Perhaps you’ve heard of me?”

  53. gary says:

    “Guys over 45 with no money I wonder how they get into clubs?”

    I drink Dos Equis so I’m exempt! ;)

  54. Comrade Nom Deplume says:

    [51] joyce

    Apparently, even strip clubs have to hire the old and plain:

    http://www.care2.com/causes/strip-club-waitress-wins-age-discrimination-lawsuit.html

  55. yo says:

    Howard Stern joins ‘America’s Got Talent’

  56. gary says:

    Bullion is off more than 17 percent from an all-time high reached in September as strapped hedge funds and sovereign funds sell the metal to raise funds and the strong U.S. dollar (Intercontinental Exchange US: .DXY) strips it of its safe haven status.

    “Gold was a safe haven, a hedge and a speculative trade all at the same time,” said Michael Murphy, CEO of Rosecliff Capital, a hedge fund. “Long gold has been a winning trade for years. We expect the selloff in gold to gain momentum into 2012. Traders are finding better hedges, better safe havens, and better speculative commodity plays than long gold.”

    I never liked it. I didn’t even think it was a good insurance policy. Food, water and arsenal are insurance policies. I’ve seen for years how people got snookered at coin and currency shows and I didn’t want to touch any of it as an investment. And these so-called conservative investment companies that urge you to buy it are working on a 30% spread… same as a coin or rare currency dealer.

  57. joyce says:

    I don’t want to see any 45+ year old guys in the clubs anyway.

    Comrade,
    I appreciate the hypothetical examples in response. But just fyi, in my original post I was facetious. There are a lot of jobs where you have to have certain skills and attributes in order to do the job. Sometimes it can be very subjective. That’s why I think private parties should be able to discriminate. About lawsuits, of course anyone can sue over anything, but I hope the judges will toss most of these cases on the basis of no standing. No harm caused no grounds to sue for damages.

  58. Punch My Ticket says:

    Confused [33],

    Jeffrey Goldberg tells us that six members of the Walton family (the original owners of WalMart) have more wealth than the bottom 30 % of Americans.

    Any six commenters at NJRER have more wealth than the bottom 25% of Americans.

    If we could somehow pick the wealthiest six commenters here, chances are their combined wealth would exceed that of the bottom 29.8% of Americans.

    Why is this true? Because the bottom 25% have zero or negative net worth.

    Jeffrey Goldberg’s statement, instead of informing anyone about the Waltons or Walmart, reminds everyone that figures lie and liars figure.

  59. Juice Box says:

    Corzine asked how many clients that were defrauded did he call? Answer Zero.
    Now getting grilled on the change in the risk manager.

  60. Comrade Nom Deplume says:

    [61] joyce,

    You may have been being facetious, but there are lawsuits over this sort of thing all the time, and the times you may be able to get away with hiring only the beautiful is when the only thing that matters is the beauty.

    Case in point: Michigan says you cannot discriminate based on height or weight. We already have age as a criteria. There have been cases, yes cases, alleging “looksism”.

    And any objective metric would get picked apart. Suppose you based retention on tips revenue? Meet certain targets or get the axe? Since uglier waitresses tend also to be older, it would be argued as a proxy for age. And if you gave one hottie a pass for a bad month, but didn’t give granny a pass, watch out.

    Having employees is a royal hassle and we fail to comprehend how much we cost our employers in terms of benefits, compliance, retention and replacement, and for a select few, the horrific costs associated with hiring them in the first place. On an average basis, the cost of employees is higher than their compensation, and in a flatter organization with predominantly lower-paid employees, that cost is quite high.

    Is it any wonder stockholders want to have us all replaced with robots?

  61. Comrade Nom Deplume says:

    [59] yo

    “Howard Stern joins ‘America’s Got Talent’”

    There are so many ironies in that statement, it may just make my head explode.

  62. Juice Box says:

    Corzine getting grilled on SOX compliance and his signature on it. Now getting grilled on the fact only the board could block his Euro Sovereign trades do to the change in the Risk Management policy and Risk Managers.

    Good stuff too bad I don’t have any popcorn!

  63. Comrade Nom Deplume says:

    okay, back to salt mine or I am not gonna get to drink Guiness with some of you tonight.

  64. nj escapee says:

    New Foreclosure Wave is Coming
    http://www.cnbc.com/id/45682960

  65. JJ says:

    oddly I see get into good places. two weeks ago I took wife out in city and she was in bathroom at sink with Kelli Rippa, by the way she looks like aushwitz in person. OMG. Even more odd her husband Marc is a chatter box, can’t shut guy up while kelly barely said a word.

    45 is not that old for guys. But then again I work in NYC which means I am aware of what is trendy. Plus for work and stuff I get to go out. In fact going out to night to a party at the Ritz. That will make my sixth time out in last three weeks. Back in the day I would go out maybe on average in summer ten times a week if you count days I did happy hour went home hung out changed and went back out to clubs plus dates. Now days only going out on average a few times month my stories are getting slower. But not to sad. Last month I was hanging out with a sports ilusitrated swimsuits models sister 20 years ago it would have been the model. Oh Well.

  66. joyce says:

    64
    I agree that the lunacy created/fostered by a corrupt legal system has yielded those results. And yes, because of that, the cost of hiring an employee is several times greater than the average wage (or even a mid to high wage).

  67. gary says:

    Other states, like New York and New Jersey, are still seeing huge delays in the foreclosure process–986 and 984 days respectively, says RealtyTrac, but they too are starting to ramp up, as various moratoria have been lifted and judges have made rulings that will kick-start the process.

    Tick… tick… tick… tick…

  68. Anon E. Moose says:

    Yo [50];

    Are they asking to be sued for descrimination?

    Andy Stern, call your office.

  69. JCer says:

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  70. homeboken says:

    A Christmas gift from CNBC, video of Corslime getting served with papers for a suit brought forth from a client while on a 15 minute break from Congressional testimony. Classic, check dealbreaker for the vid.

  71. Juice Box says:

    Corzine dancing around and around.

    This is the guy Congress and the DOJ need to question.

    Jason Chenoweth
    Treasury Investment Supervisor

    Chicago, IL

    http://www.linkedin.com/pub/jason-chenoweth/4/b74/588

  72. Juice Box says:

    homeboken – He will be lucky some hog farmer does not use him as feed.

  73. Libtard in Union says:

    15-year mortgage at 3.057???

    Time to call my mortgage broker again. Or do I wait for Europe to collapse?

    I’m a little over a year into my 20-year at 4.75% on my multi. Keep in mind, rental real estate costs you at least a 1/4 point penalty on the mortgage rate. Twenty year is at 3.67%. If I can get another quarter point drop on the old interest rate, I will be able to do another no cost refi and will take another 4 years off of the loan. I love Bernanke! And I love my leverage!

  74. Libtard in Union says:

    I’ll see some of use all tonight. I’ll be in the white American’s jersey. Going directly from the bar to my game tonight.

  75. Anon E. Moose says:

    Gary [71];

    Its forever/never on the installment plan. The banks will get around to evicting the deadbeats and recapturing their capital… mañana — right after their benefactors in the government decide they want to get thrown out of office.

  76. Fabius Maximus says:

    #39 Shore

    Smart money is on Ron Paul, but for me its too close to call Iowa. Rasmussen poll always see to be out or line with all other polling groups.
    http://www.realclearpolitics.com/epolls/2012/president/ia/iowa_republican_presidential_primary-1588.html

  77. Fabius Maximus says:

    #66 Juice,

    We will finally see if SOX has any teeth. It should be enough to send Jon to the big house.

  78. JJ says:

    I doubt that control was in scope for sox as it has little bearing on published financial statements as it was never an asset of MF.

    Fabius Maximus says:
    December 15, 2011 at 5:08 pm
    #66 Juice,

    We will finally see if SOX has any teeth. It should be enough to send Jon to the big house.

  79. Shore Guy says:

    Yo,

    Maybe, but we will get the money back when we trade up to Iran.

  80. Comrade Nom Deplume says:

    Poor showing at Kilkennys. Just stu and me.

  81. grim says:

    Sorry guys, just got back from Cali and my laptop died while I was out there, didn’t realize it until today.

  82. Comrade Nom Deplume says:

    (85) redux

    And moose.

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