How does it feel to be rich?

From the Star Ledger:

N.J. has second highest median household income, according to Census

The median household income in New Jersey is the second highest in the country, according to new Census numbers released on Tuesday, Dec. 17.

New Jersey ranks number two with a median household income of $71,637, according to the latest 2008-2012 American Community Survey estimate.

Only Maryland ranks higher, with a median income of $72,999 with Alaska coming in third with $69,917.

Among the counties, Hunterdon County earns the highest median household income with $105,880. Somerset comes in second with $98,571 and Morris third with $97,979.

This entry was posted in Demographics, Economics, New Jersey Real Estate. Bookmark the permalink.

150 Responses to How does it feel to be rich?

  1. grim says:

    From the NY Daily News:

    Loan and groan: Distressed homeowners who get mortgage relief are about to get hit by big fat tax bill

    Staten Island homeowners Carlene Boje, 32, and Jason Boje, 37, should be rejoicing: With the help of a city mortgage assistance program, the parents of four are in the process of hammering out a deal with their bank that will save their home from foreclosure.

    Unfortunately, they are facing a big, fat tax bill, too.

    Like tens of thousands of New York area homeowners, the Bojes are days away from losing out on a tax break set to expire at the end of the year.

    Unless Congress acts soon, The Mortgage Forgiveness Debt Relief Act, passed in 2007, will be history. That means the Bojes might have to pay income tax on the portion of their home loan that has been forgiven.

    The resurrection of this tax could hurt as many as 97,262 New York area homeowners, the number of homes in the region that are underwater, according to CoreLogic.
    “It’s like taking two steps forward, only to be taking three steps backward,” Jason Boje, a business solutions advisor, said of his dilemma. “It would definitely affect our family negatively.”

    The Bojes will likely see $47,000 in debt from their second mortgage forgiven by their lender. The additional income is expected to push them into a higher tax bracket, Jason Boje said.

  2. grim says:

    From the WSJ:

    Moody’s Takes More Bearish View on New Jersey

    Moody’s Investors Service lowered its ratings outlook on New Jersey, saying a sluggish economic recovery and ongoing pressure tied to rising pension costs have challenged the Garden State.

    The outlook on New Jersey’s general obligation bonds is now negative, down from the prior stable view, based on Moody’s expectation the state “will be challenged to improve its very weak liquidity position.”

    The bearish view on New Jersey comes as the state has struggled to generate enough jobs to lower its unemployment rate, which stood at 8.4% in October according to the Bureau of Labor Statistics. That is the eighth worst unemployment rate among the nation’s 50 states.

    New Jersey’s main industries, including pharmaceuticals, manufacturing and financial services, have been either stagnant or have moved employees to other states, economists have said.

    Moody’s still rates the state’s general obligation bonds at Aa3, which is three levels under the top triple-A rating and comfortably in investment-grade territory. The rating benefits from a diverse economy and high wealth levels, as well as a proactive approach to manage future liabilities.

    But Moody’s warned fiscal 2014 revenue collections remain below projections, and there is no specified plan to rebuild the state’s reserves. Other issues include above-average pension and retiree health-benefit liabilities and rapidly rising pension costs.

  3. grim says:

    From MarketWatch:

    Home-builder confidence highest in four months

    A gauge of home-builder confidence rose in December to the highest level in four months, led by views on current sales of single-family homes, according to a report released Tuesday.

    The National Association of Home Builders/Wells Fargo housing-market index reached 58 this month — matching an eight-year high hit in August — up from 54 in November. Economists polled by MarketWatch had expected a December level of 56. Results above 50 signal that builders, generally, are optimistic about sales trends.

    “In short, the report suggests that the recovery in home sales is getting back on track,” said Jim O’Sullivan, chief U.S. economist at High Frequency Economics.

    Part of December’s improvement is a rebound from the government shutdown that hit housing, said David Crowe, NAHB’s chief economist.

    “We continue to look for a gradual improvement in the housing recovery in the year ahead,” Crowe said.

    NAHB’s overall builder-confidence gauge increased 23% over the past year, supported by pent-up demand, even as mortgage rates trended higher. In fact, the gauge rose so much that it’s at higher levels than those typically associated with current construction rates.

  4. Hunterdon leads the US in growth of EBT card use.

  5. But hey, the illusion of wealth is more important than the reality.

  6. grim says:

    From the WSJ:

    New Mortgages to Get Pricier Next Year

    Consumers can expect to pay more to get a mortgage next year, the result of changes meant to reduce the role that Fannie Mae and Freddie Mac play in the market.

    The mortgage giants said late Monday that, at the direction of their regulator, they will charge higher fees on loans to borrowers who don’t make large down payments or don’t have high credit scores—a group that represents a large share of home buyers. Such fees are typically passed along to borrowers, resulting in higher mortgage rates.

    Fannie and Freddie, which currently back about two-thirds of new mortgages, don’t directly make mortgages but instead buy them from lenders. The changes are aimed at leveling the playing field between the government-owned companies and private providers of capital, who are mostly out of the mortgage market now. Fannie and Freddie were bailed out by the government during the financial crisis but are now highly profitable.

    The Federal Housing Finance Agency last week signaled the fee increases but didn’t provide details. The agency’s move came one day before the Senate voted to confirm Rep. Mel Watt (D., N.C.) as its director. It isn’t clear whether Mr. Watt, who hasn’t yet been sworn in, weighed in on the changes. An FHFA spokeswoman declined to comment on any discussions with Mr. Watt, who also declined to comment.

    “The timing of it is impeccably bad,” said Lewis Ranieri, co-inventor of the mortgage-backed security. “The question becomes: how much can housing take?”

    In updates posted to their websites on Monday, Fannie and Freddie showed that fees will rise sharply for many borrowers who don’t have down payments of at least 20% and who have credit scores of 680 to 760. (Under a system devised by Fair Isaac Corp. , credit scores range from 300 to a top of 850.)

    A borrower seeking a 30-year fixed-rate mortgage with a credit score of 735 and making a 10% down payment, for instance, would pay fees totaling 2% of the loan amount, up from 0.75% now. The 2% upfront fee could raise the mortgage rate by around 0.4 percentage points.

    Borrowers with larger down payments could also be affected. Fees for a loan with a 690 credit score and a 25% down payment would rise to 2.25% from 1.5%.

  7. grim says:

    5 – Simple descriptive statistics are not adequate to describe non-standard distributions, especially bi-modal distributions – in which case they can be down right misleading.

    When you have only rich and poor, the average incomes of the two describes a group that simply doesn’t exist, that average is essentially meaningless (the same reasoning applies to my comment that, “you can’t buy a median home in NJ.”

    So among the wealthy in Hunterdon, I suspect they would have a significantly higher median household income, and among the poor, significantly lower.

    Assuming a standard distribution applies to those medians would be a disaster – 95% of the population does not fall between plus and minus 2 standard deviations.

  8. grim says:

    “you can’t buy a median home in NJ.”

    Median single family home price in NJ in Q3 2013 was $311,000 (Up from $300k this time last year btw).

    Go to town.

  9. Essex says:

    NJ is a lot like Lake Wobegon. Everyone is above average.

  10. All Hype says:

    “But hey, the illusion of wealth is more important than the reality.”

    People will learn the hard way when the SNAP cards stop working and all they have is debt. The shooting at the Short Hills Mall is but a taste of what is to come.

    Oblivion, dead ahead.

  11. grim says:

    From MarketWatch:

    Housing starts up 22.7% to 1.09M rate in November

    Construction on new U.S. homes soared 22.7% in November to a seasonally adjusted annual rate of 1.09 million, the highest rate since February 2008, with surges for single-family homes and apartments, the government reported Wednesday. Economists polled by MarketWatch had expected overall housing starts in November to hit a rate of 963,000. Starts for single-family homes rose 20.8% in November to a rate of 727,000, the highest rate since March 2008, according to the U.S. Department of Commerce. Starts in buildings with at least five units rose 26% to a rate of 354,000. The monthly home-construction data are volatile, and could see revisions. Still, overall starts in November were up 29.6% from the same period in the prior year, pointing to the housing market’s continuing recovery. Also Wednesday, the government reported that building permits, a sign of future demand, fell 3.1% in November to an annual rate of 1.01 million. Permits for single-family homes rose 2.1% to a rate of 634,000, the highest rate since April 2008

  12. Libturd on NJ Transit says:

    Midtown direct train being diverted to Hoboken again. ChiFi, you are smoking something if you think NJT service is good. It’s been about as worse as ever over the last month or so. On the bright side, I’m not standing today, though all of the middle seats ARE taken.

  13. grim says:

    400-450k NJ households receiving SNAP benefits..

  14. Essex says:

    Vigoda>Camping

    hoto: AP Photo/Marcio Jose Sanchez
    Doomsday preacher Harold Camping, who used his evangelical radio program to spread the message that the end was nigh, died Tuesday at the age of 92.
    The California preacher, who predicted four times that the Rapture would come — most infamously on May 21, 2011 — died at his home on Sunday, according to a manager at Family Radio, his Christian broadcast media network.
    Camping used his radio show and thousands of billboards to broadcast the end-of-the-world prophecy, but gave up when his predictions didn’t come to pass.
    Some of his followers quit their jobs and sold all their possessions to donate to his Christian media empire and help spread his message. More than 5,000 billboards and 20 RVs plastered the Judgment Day message across the country.
    When his predicted May 2011 Judgment Day fizzled, Camping claimed a “spiritual” Rapture had occurred and revised the date for the actual event by five months. He suffered a stroke three weeks after the May date.
    After his final public prediction didn’t come to fruition, Camping changed his tune and said that nobody could possibly know when the end would come.
    The preacher was a retired civil engineer who built a worldwide following for the nonprofit, Oakland-based ministry he founded in 1958.

  15. Amerika is a bum with an iPhone.

  16. Street Justice says:

    A smart bum would sell the iphone, buy a hi-point 9mm and pocket the rest of the cash. Bum’s gotta make a living somehow.

  17. anon (the good one) says:

    but the GOP says is blacks, immigrants and gays?

    Spine Snapper says:
    December 17, 2013 at 8:39 pm
    The only real threats to our country are the gubmint, the bankster welfare queens and the entitlement class.

  18. Fast Eddie says:

    anon (17),

    You have it backwards. It’s the liberal dem0crats who are masters at isolating groups. To sustain their base and secure their interests, they need a prop. So, they use these groups as ammunition against their so-called enemies. They brainwash them into thinking they’re inferior to garnish votes but ultimately, nothing changes. They don’t want to disrupt the environment, they don’t want progress. They want to maintain the message and keep the host alive. Otherwise, they wouldn’t get elected.

  19. The only constituency of individual Amerikans who can vote as a bloc and win elections is the entitlement class. Hence, dumbocrats have a vested interest in growing it.

  20. Of course, the collapse of everything will be hastened by the metastasis of the entitlement class.

    Should be great good fun when they are weaned from the gubmint teat.

  21. joyce says:

    6
    Mel Watt, Congressman representing the BofA district

  22. Street Justice says:

    Anon, both the R’s and the D’s are masters of pitting groups against each other. Try not to be a dolt and side with either one of them. The current manufactured emergency our Legislators have presented us with is disabled veterans vs the children of illegal immigrants… Hey, why should our rulers show any sort of leadership and unify us when they can keep us fighting with each other?

  23. joyce says:

    Definitely can’t find a house for $300-350 in North New Jersey (depending on where you drawn the distinction between NNJ and NW NJ)

    grim says:
    December 18, 2013 at 7:10 am
    “you can’t buy a median home in NJ.”

    Median single family home price in NJ in Q3 2013 was $311,000 (Up from $300k this time last year btw).

    Go to town.

  24. grim says:

    Why exactly are these people permitted to keep their jobs?

    Only in the public sector can you be so outrageously poor performing it makes the news, and yet be paid handsomely for that ineptness.

  25. Essex says:

    21. Let’s eliminate corporate welfare and see how the oil companies respond.

  26. grim says:

    Where are the mass resignations (or firings) at NJ DYFS?

    $165 million dollar lawsuit, largest ever against the taxpayers of NJ, due to DYFS purported negligence.

    Nothing, not even a peep – NJ’s dysfunctional (or is it DYFSunctional) government machine continues to grind forward, destroying everything in it’s path.

    Suspect we may be better off shutting DYFS down entirely, since we clearly lack the capacity to run the program effectively, especially when NJ taxpayers are left to foot the bill when they f*ck up.

  27. grim says:

    Instead, all we here about on the news is this idiotic “Trafficgate” day in and day out.

  28. Republicrat says:

    What can I do to buy your vote today sir? Perhaps some food stamps? How about some nice tax credits? Extend your unemployment benefits a bit longer? sure! Maybe you’d like your housing to be more “affordable”….how’s about some cheap student loans? No problem. Whatever you need…

  29. Libturd in Union says:

    I don’t think a single person was reprimanded over the loss of 120 million dollars worth of NJT passenger trains and locomotives. Not to mention how sh1tty it has made my commute since the storm. The maps I put up here to warn JJ the night before the storm and for almost a week prior, showed how large the surge was expected to be. Gotta pay those pensions to get the best and brightest in there. Right Anon? Fools. You and them!

  30. Libturd in Union says:

    Don’t forget the Bama phone!

  31. grim says:

    30 – See… That’s the thing, no matter which way you vote, Republican or Democrat, in the end you get exactly the same thing, a politician…

  32. Painhrtz - Disobey! says:

    Lib got diverted on the morris and essex line this morning I’m working near the empire state what should have been an easy commute to penn was f*ck all. I’m reminded why I would never accept a job in the city the once a year I do actually end up working in the city

  33. The Original NJ ExPat says:

    How much do you want to bet Maryland wasn’t #1 before Obama took office?

    Only Maryland ranks higher, with a median income of $72,999 with Alaska coming in third with $69,917.

  34. Libturd in the City says:

    Speaking of Camden (by the way, my brother’s law offices are located there), I had a close friend in college who I used to give a ride home from college whenever I visited my brother. This was back in the late 80s early 90s. I was always astonished by the amount of empty lots in those cities that were most likely former housing projects that the ultra liberals built in the 60s. I always wondered what the Anon’s thought about their ill-fated (and expensive) strategies back then.

    Those who know me know that I am relatively liberal, but I think for myself. Deep down, I know that life’s not fair for those born into poverty, but handouts will never be the solution. It’s why Abbott fails and most social programs fail. I’m a huge supporter of workfare, but it’s almost non-existent. It wouldn’t maintain the voting base. It’s very hard to take away from someone something that they’ve grown to depend upon, whether it be Wall Street or MLK Boulevard.

  35. The Original NJ ExPat says:

    [35]How about that? The entire financial crisis barely put a minor dent in Maryland’s median income, and has recovered nicely since then.

    http://www.mdp.state.md.us/msdc/HH_Income/Household_Median_Income_SAIPE_Data_2012.pdf

  36. The Original NJ ExPat says:

    [37] Meanwhile, New Jersey’s median income (like most other states) has been declining since 2008. I wonder what makes Maryland so strong? Hmmm

    http://www.deptofnumbers.com/income/new-jersey/

  37. The Original NJ ExPat says:

    [36] Classic oxymoron:

    Those who know me know that I am relatively liberal, but I think for myself.

  38. Street Justice says:

    37 – Throughout the housing crash in 2008- (present day?) I remember reading stories where they reported that housing prices still rose in one particular city not too far from there…..

    So…yawn….no surprise

  39. The Original NJ ExPat says:

    BTW, Lib, I’m just funnin’ with you out of context. I actually agree with this entire statement:

    Those who know me know that I am relatively liberal, but I think for myself. Deep down, I know that life’s not fair for those born into poverty, but handouts will never be the solution. It’s why Abbott fails and most social programs fail. I’m a huge supporter of workfare, but it’s almost non-existent. It wouldn’t maintain the voting base. It’s very hard to take away from someone something that they’ve grown to depend upon, whether it be Wall Street or MLK Boulevard.

  40. grim says:

    36 – Watch the documentary about Pruitt-Igoe:

    http://www.youtube.com/watch?v=g7RwwkNzF68

  41. grim says:

    Why not just tie social security and welfare to graduation?

    You drop out? Sorry, you are no longer eligible for public assistance.

    Public school is welfare number one, if someone turns down that entitlement, that benefit, a benefit that has been shown TIME AND TIME AGAIN to be correlated with getting out of poverty, why should someone be eligible for any other support? This one is the most basic, education is everything. If you turn down that social program, WHY SHOULD WE GIVE YOU ANYTHING ELSE?

    How about this one – tie it to the parent’s benefits. Perhaps then maybe parents might be involved?

    What’s the worst that happens, they leave NJ and go to PA looking for benefits there?

  42. grim says:

    For context, Camden had a 49% graduation rate in 2012. These dropouts with no high school diploma have absolutely zero chance of getting out of poverty, zero. No matter how much money we pump in via entitlements, they will never get out of poverty.

  43. Libturd in the City says:

    Will do Grim. And saw your sarcasm ExPat.

    Hey, has anyone here done the solar thing yet? Just curious as I plan to be in my home for at least the next 18 years and with the generous NJ gubmint incentives, it almost looks like it makes sense. And I know Grim, it does not raise my assessment.

  44. grim says:

    45 – If you find out anything, let me know, I was under the impression that the grant program was tiered based on the size of installation, and all the dollars associated with the smaller tiers was quickly used up, leaving only credits/grants for the mega installations.

    Last time I talked with one of those solar guys, the level of sleaze was unbelievable, it was like a high pressure Honda dealership where the guy was trying to play all sorts of number games like they do with leases and trade ins. In twenty minutes of blabbing, he couldn’t tell me outright what it would cost me.

    Came to the conclusion that I could probably buy everything I needed online and install it myself for less money.

  45. Libturd in the City says:

    Grim, you’re on to something. But it would never pass in a divisive two-party system that seems to get worse by each election. Did you know that Hilary has already run an attack ad against Christie over traffic gate? It’s so pathetic and so blatantly obvious. Can’t wait for Joey D to run for governor. He’s a double dipper who has a brother who is selling health care plans to public workers all across the state. Perhaps we can turn around NJ by building more state-owned restaurants and miniature-golf courses?

  46. NJGator says:

    We got such a nice Christmas Card in the mail from Joey D. Shouldn’t his destiny though be prison and not Drumthwacket?

    BTW – Our friends in the Montklair schools today had a 2 hour delay…after being closed yesterday. I was smugly riding my normal train into NYC today until NJ Transit diverted all of MTD to Hoboken. Walked into my office at 9:45. Well played, NJT. Well played.

  47. Libturd in the City says:

    I would go directly through PSE&G to avoid the sleaze. I have a friend who works at one of those sleazeball operations too. They make their money off of the install and markups on the panels. I wouldn’t trust their math anyway. The only reason I am questioning it is because my rear roof is south facing and has no obstructions whatsoever. I’ll do the math and will let you know. Though I’m not in love with the concept yet unless my ROI is under 10 years.

  48. 1987 Condo says:

    What are you all spending annually on electric and gas? My 2,000 square foot homes runs me about $3,600 or less a year. Was always a big solar advocate but the savings versus the whole installation issue seems not to be worth it.

  49. grim says:

    49 – Hm, seemed to me this guy was selling the systems with some kind of complex financing or leasing structure (I couldn’t figure out which it was) – I can boil it down to “no money down, low monthly payment”. Which is why, I suspect, he couldn’t tell me how much it actually cost, since if he did, the jig would be up.

  50. Painhrtz - Disobey! says:

    Gator, Lib any food recommendations between Penn Station and Rockefeller center. Wife is coming in to meet up with me after I’m done for the day. After she gets done with the stupid tree she’ll want to eat. I hate going to that tourist trap but lost the argument. Reasonably priced I’m looking at you captain cheapo!

  51. Libturd in the City says:

    Unfortunately, I work downtown. Gator will have to be your best option. Personally, I find the midtown food joints rather crappy and overpriced. Even the fancy places kind of suck for the most part.

  52. Libturd in the City says:

    When I did work in midtown and didn’t bag my own lunch, I would rotate between four places. Mom’s Bagels, DaiKichi (robotic sushi) but I would usually get those triangular rice balls, pizza and the Red Flame Diner (which we affectionately called the blue flame). I know it’s not fancy, but the flame made an incredible Greek Salad that used to be pretty cheap and their burgers were top notch.

  53. xolepa says:

    re: Solar panels

    The SREC market – essentially NJ’s system of solar reimbursements – crashed 2 years ago. But, so has the cost of panels. Essentially, a wash out.
    Best way to do an install is to find an expert who has that mini-satelite dish looking tool that will tell you how well your location is suited ALL-YEAR ROUND. Once you do that, you can calculate your cost-benefits. Remember, fed solar credits expire in two years. Solar installation used to be about $5 per watt. It is now in the $2-3 range. For more details on the market place:
    srectrade.com
    markets.flettexchange.com

    BTW, I wanted to install panels in my yard 10 years ago when the SRECs first started in NJ. New Jersey would rebate 70% of total cost back then. Plus SRECs were at $700 per kw. My cost breakeven would have been 4 years and all positive cash flow after that.
    Wife killed the dream.

  54. anon (the good one) says:

    plenty of corporate handouts, tax evasion, free ride to oil and gas, bail outs.
    most only get angry about handouts to the very poor.

    “Deep down, I know that life’s not fair for those born into poverty, but handouts will never be the solution. “

  55. Painhrtz - Disobey! says:

    Thanks Lib I can’t stand eating in Midtown it is like extortion. I eat a rat carts outside the garden or the blarney before a game. So the thought of her picking a restaurant is giving me hives.

  56. Libturd in the City says:

    Blarney is pretty horrible. But at least they have Guinness on Tap. I won’t even eat a pretzel off of those carts. Midtown is all about tourism and they’re always willing to overspend on crappy food when on holiday. Who doesn’t?

  57. Street Justice says:

    58 – I can’t speak for “most” but I will say it makes me angry that there are poor…I’d like to see them escape poverty and live a better life. Over and over again we see examples of why entitlements and handouts never help the poor escape their poverty.

    The same goes for the big To Big To Fail corporate institutions. Plenty of people here have stated by saving them we are motivating them to continue to fail. Why should they stop taking unneccesary risks if they know the government will bail them out?

    Anon, Why is this issue so one sided for you? Shouldn’t both be outrageous? It makes you question our ruler’s motives? Why continue to send money to either poor or TBTF institutions if you know the pattern will always continue? When will it end?

  58. grim says:

    Plus SRECs were at $700 per kw. My cost breakeven would have been 4 years and all positive cash flow after that.

    Feel sorry for those who installed back then assuming a $700 SREC, they are about $180 today.

  59. Painhrtz - Disobey! says:

    Those carts are cause for my super human immunity and well the Blarney kind of became a Ranger game / concert tradition. I think the health inspectors were bribed in boiled cabbage to give that place a pass rating, but I love it none the less.

  60. nwnj says:

    #59

    The present circumstance is what I see as the ultimate undoing of the two party system. It’s not serving the majority(though the underclass is rapidly growing), it’s all special interest. Middle Class party anyone?

  61. xolepa says:

    Fellow down the street from me had the worst timing. Seems like he signed the contract when the SRECs were in the $600 range. By the time they finished the job, it plunged to $140. The market, btw, has recovered from its all time lows.

    Another fellow who had an install done over three years ago didn’t know what happened until I ‘updated’ him. He was not too happy.

    Funny thing is I spoke with many of those ‘sales’ guys and they all made projections that the cost of electricity would go up 5% annually based on historical trends. I kept telling them that was a pre-fracking number. People don’t realize that fracking has highly stabilized the cost of electricity here in the NE.

  62. Libturd in the City says:

    You are right about the fracking. If the oil companies weren’t in bed with the R’s and D’s, we would all be driving virtually non-polluting natural gas cars which would have nearly unlimited range, would cost half as much to fuel up and would completely remove any reliance we have left on oil imports for transportation. Oh yeah. We would also be the world’s top LNG exporter. But no, it’s more important for our elected celebrities to go on Exxon/Shell sponsored junkets and have their reelection war chests refilled. Baa, baa.

  63. NJGator says:

    Pain – Are you looking for an actual sit down dinner? Decent fast food?

    How much are you willing to spend and how adventurous are you when it comes to food?

  64. Libturd in the City says:

    Just send him to John’s.

  65. Painhrtz - Disobey! says:

    Gator adventourous (I eat from puch carts, probably more suicidal) not 200 bucks, sit down. We eat everything. Though neither of us are fond of coconut. So even though we Like Thai it limits our menu. Thought about just getting Korean BBQ but wife already shot that down.

  66. Juice Box says:

    re: # 52 – re: “stupid tree” This reminds me of many a Ghost of Christmas past wandering around Rockefeller Center looking for a place to eat and stay warm. Whenever paying homage to the tree I used to bring a flask with me to make merry and keep warm, nothing like getting a picture blitzed and freezing in-front of the tree with a you know what eating grin. The theater district is full of overpriced slop. My suggestion for a meal would be anyplace warm. Why not cut your losses and get it line at the Salvation Army soup kitchen on 47th st?

  67. A Home Buyer says:

    About Solar –

    I’ve done designs for photovoltaic systems in the past.

    I say the past, because the market died a quick death for most non-public entities and homeowners when the REIP ($ per kw rebate) was suspended and the SREC values tanked. We had projects canceled midway through design and sometimes construction because the economics just wasn’t there (used to be 3-5 year payback, suddenly became 15-20 year payback which is at the upper limit of the panel warranty) .

    Furthermore, recent changes to the NJ Admin. Code as well as utility requirements have made it possible for Utilities to deny (or at least seriously delay) approvals for utility connection based on other local energy producers. We would produce a design for a client, without a guarantee it could even be constructed since the Utility has final (and irrefutable) say in the process.

    Either way, I can probably help you with technical questions if you are serious about solar or want a second set of eyes / opinion.

  68. grim says:

    Geez.. Blarney was our go-to underage drinking joint back in the day… well… if we couldn’t get served at Maxwells (pre-brewpub). Circa 1990-1994 – expressed in JJ years – this would be when you could sell find packs of hookers walking around Javitz and 42nd Street was entertaining. Of course, when JJ roamed you could buy heroin out in the open in front of the New Amsterdam…

    All downhill from there. Now Walt Disney owns 42 and Preston and Julia are shooting heroin in the ‘burbs, what a difference 20 years makes.

  69. NJGator says:

    Alternative to John’s…gets a 24 food rating from Zagat and 4 stars from Yelp…

    http://donantoniopizza.com/menu/

    http://www.yelp.com/biz/don-antonio-new-york-2

  70. NJGator says:

    Pain – getting moderated with all my links….going to post a few reliable places…this is midtown. nothing is cheap :)

    Decent Indian on 6th/46th…Utsav. Not sure if they do a dinner buffet – we always go for lunch…but they do have a pre-fixe between 5:30 and 7:30. http://www.utsavny.com/pdf/prefix.pdf

  71. NJGator says:

    Kellari Taverna
    http://www.opentable.com/kellari-taverna-new-york?hpu=858668310&shpu=1&p=2&rid=5923

    Nanking (haven’t been to the NY location, but Stu and I have been several times to the location in AC)

    http://www.opentable.com/nanking-manhattan?hpu=858668358&shpu=1&p=2

  72. 1987 Condo says:

    I’ll guess Yes to taper today

  73. Michael says:

    43-Brilliant Idea!!

  74. Anon E. Moose says:

    I worked in midtown until ’11; mostly did lunch there not dinner. If you can get past the touristy, Dallas BBQ on 44th is good [When did they move to 42nd?]. Had dinner at Osteria al Doge, very nice. A co-worker has Utsav on speed dial — ‘This is Douglas at [redacted]; can I get my usual? Thanks”. Personally, I liked the Long Island outlet of Nanking, too. Kind of a fusion between Thai and American Chinese. Could never figure out if the kitchen was Kosher or Halal — kind of odd to see no pork on a far east menu.

    Lots of options, good and bad; Really need to specify a cuisine to narrow it down.

  75. Libturd in the City says:

    I forgot about Dallas BBQ. It’s halfway decent and not outrageously priced. Better than Super Daves, but not as good as Dinasour as chain BBQ goes. Really good cornbread too. Remember Tad’s on 42nd when it was all p0rn shops and boarded up theaters. If you want an interesting experience, get a Tad’s steak!

  76. Painhrtz - Disobey! says:

    ERR in moderation must have been my use of n i gerian.

    Anyway even if grim does not unmod thanks for the recs and hard work gator. You to Stu as well as you moose,

    Lib I actually got my first propsosition from a tranny hooker walking out of Tads. One buddy thought she was hot and I was stupid to turn it down at that price. Man I miss the NYC of my youth.

  77. joyce says:

    Subsidy ends, priced tank… hmm, where have I heard that suggestion before

    A Home Buyer says:
    December 18, 2013 at 1:41 pm

    “the REIP ($ per kw rebate) was suspended and the SREC values tanked.”

  78. joyce says:

    prices*

  79. ZIEBA says:

    Virgils BBQ should still be on 44th. No chain stigma and a smoker out back. Lower key vibe and decor, though probably still touristy.

  80. Libturd in the City says:

    Yeah…the walk from the Port Authority pretty much all of the way to the corner of 6th and 42nd was truly a creepy place. The Limelight too was pretty wild back in the days of industrial music. I saw Ministry there. The show was almost as f’ed up as the audience. Limelight went downhill when they added the dancers in the bird cages.

  81. Painhrtz - Disobey! says:

    I saw KMFDM at the limelight weirdest thing I ever saw far as shows go that was until I started going to see GWAR regularly, but that was staged. The limelight crowd was better than the show.

    We used to see what suburban rube from college we could turn loose to defile on 42nd street. Often ended with us laughing hysterically and them waking up with regrets. Maybe that is why I have no remaining friends from college.

  82. grim says:

    Interesting, also saw KMFDM at Limelight around that time (95ish?)

  83. Samivel says:

    I’m so depressed. Inventory is incredibly low. What is there is overpriced
    and always needs a lot of work. Haven’t heard from my realtor
    in 2 weeks. All the news coming out indicates it’ll be more difficult to buy
    in the future in NNJ. It’s bleak for the young family first time buyer unless one is rich.

  84. Nicholas says:

    The Original NJ ExPat says:
    December 18, 2013 at 11:13 am

    How much do you want to bet Maryland wasn’t #1 before Obama took office?

    Only Maryland ranks higher, with a median income of $72,999 with Alaska coming in third with $69,917.

    http://www.census.gov/prod/2009pubs/acsbr08-2.pdf

    NJ ExPat, this information was one Google search away and freely available to the public. Why in the world would you bet when the information was right there? Now you just look foolish as you tried to bash OB and came out looking like a Ludite. Not that I’m defending OB’s practices for the last few years but please edify the conversation instead of dragging it down with your conjecture. I’m interested in facts, not your biased opinions.

    Just in case you are too busy to read the census information from 2009 regarding data collected in 2008 I will tell you: Maryland had the highest median household income. The same relationship held true for 2007 as well.

    I would be interested in any points you would try to make about why Maryland has such a high median income. Perhaps it is our defense contractor base which supports the alphabet boys near Washington D.C.? Perhaps it is our government and civilian workforce that supports space exploration via NASA? Perhaps it is our juxtaposition along one of the largest tidal basins in the world which provides a rich environment for farming and fishing?

    Did OB create those, nope. Could those jobs go elsewhere, yes. As grim said the median income can be downright misleading if the distribution is bi-modal.

  85. Juice Box says:

    $10 Billion taper I wonder who was front running?

    Banks Opinions before taper announcement.

    Goldman Sachs

    “We currently expect tapering to begin at the March 2014 FOMC meeting, although a January move is very possible. We can’t even rule out a small move this week–which would bring us full circle to our forecast for December tapering at the start of the year.”
    +
    Morgan Stanley

    “Our US economists expect the Fed to begin tapering at the March 2014 FOMC meeting.”
    +
    Barclays

    “We expect the Fed to make no changes to its asset purchase program and policy rate guidance. Although better US economic data and the Congressional budget deal last week increased the probability of taper, we believe many on the FOMC require more evidence that the rate of growth is accelerating and inflation is firming before slowing the pace of purchases.”
    +
    Credit Suisse

    “The FOMC will initiate a small $10 [billion] taper of QE3 soon, perhaps as soon as
    [this week's meeting].”
    +
    Deutsche Bank

    “We are looking for a $10 billion Treasuries only taper—we have been projecting this since the much stronger-than-expected October employment data (reported on November 8), which was subsequently matched by a similarly strong November employment report.”
    +
    UBS

    “We believe still-low inflation is likely to preclude a taper at the December meeting as a still-cautious Fed awaits more evidence that recent gains in the labor market and consumption can be sustained while avoiding any action that could derail the holiday shopping season.”
    +
    JP Morgan

    “We still see January as the most likely date for the first taper, but between January and December it is increasingly looking like a coin flip. “
    +
    Citigroup

    “The likelihood of a Fed taper announcement next week … roughly 50/50. We think it is very likely that cutbacks in asset purchases will begin either next month or following the January meeting and we continue to expect QE to end in the third quarter of next year.”
    +
    Bank of America Merrill Lynch

    “CPI inflation continues to be very muted in the US, one factor that we expect will keep the Fed from tapering in December.”

  86. grim says:

    Maybe 94 – I think it might have been when I was a senior in HS. I remember discussing KMFDM (kein merheit fur de mitliede (sp?)) with my German teacher.

  87. Nicholas says:

    http://www.census.gov/prod/2005pubs/acs-01.pdf

    Aaaand, OB took office in 2004 not 2008.

    MD is #3 behind NJ and Conneticut in 2004.

    Argument is still valid, OB didn’t put us in the top three, there are other reasons why MD is there. I would like to hear those rather than generic attribution to OB.

  88. Street Justice says:

    87 – Nicholas…I was actually thinking it was a thriving lobbying industry…

    http://www.washingtonpost.com/national/capital-gains-spending-on-contracts-and-lobbying-propels-a-wave-of-new-wealth-in-d-c/2013/11/17/6bd938aa-3c25-11e3-a94f-b58017bfee6c_story.html

    The wapo article seems to suggest it was both lobbyists and government contract spending.

  89. Painhrtz - Disobey! says:

    Grim may have been earlier think it was the Naive tour but I definately could have been there for that show though things are a little hazy from that period of my life.

  90. 1987 Condo says:

    Dow up 240 on start of Taper

  91. All Hype says:

    Interplanet Janet gets to print 900 billion/year instead of 1 trillion. Now that’s what I call fiscal discipline!!!

    Same as it ever was. The 10,000 lb man can now only gain 900 pounds next year.

  92. Juice Box says:

    re: # 96 – More like Bernake’s final bow. “Look I saved the world and they messed it up by not tapering just like I started.”

  93. Carlito says:

    96-Nope. At 10B reduction per month, by August she should be done, having printed “just under” 300B

  94. Libturd in the City says:

    Strangest thing about KMFDM is how they would always mention their name in their songs. “KMFDM, here we are again.”

    I had a ChiFi like band crush on Consolidated back in the day as well as that commie Billy Bragg.

  95. 1987 Condo says:

    #95-#96….you have both ends covered I guess, I suggest add some Christmas books to your stockings, some about the Depression and some about deflation, at least to understand a different perspective, it may be all wrong, but it is at least understandable…

    http://online.wsj.com/news/articles/SB10001424052702304173704579264551256246892?mod=ITP_pageone_0

  96. joyce says:

    It’s not a $10B reduction per month every month… it’s $75B a month rather than $80

    Carlito says:
    December 18, 2013 at 3:34 pm
    96-Nope. At 10B reduction per month, by August she should be done, having printed “just under” 300B

  97. Carlito says:

    Joyce, you are right, I later read the actual FOMC minutes…

  98. Carlito says:

    statement, not minutes…

  99. Libturd in the City says:

    When the market starts crashing as a result of the taper, they’ll simply stop tapering. It’s really not that newsworthy. Moral hazard rules the day.

  100. 1987 Condo says:

    Moving from $85 billion to $75 billion…correct?

    “Fed’s policy-making committee said in a statement Wednesday that, beginning in January, it would trim its purchases of long-term Treasury bonds to $40 billion per month from $45 billion, and cut its purchases of mortgage-backed securities to $35 billion per month from $40 billion.”

  101. Nicholas says:

    That WaPo article is garbage and seems to suggest nothing. Perhaps it is because some of the nations best-educated workers are migrating to the DC area that median incomes are up? According to the WaPo article.

    Tens of thousands of the nation’s best-educated workers have flocked here, some for contracting jobs, some simply to be part of the newly energized business climate. The money and brainpower have supercharged the region.

    The 3 billion in lobbying dollars is a drop in the bucket. A fart in a hurricane. Most of that money is spent in salaries which stay in the home state of the company doing the lobbying. Some is spent on travel to airline companies, some is spent on dinners and golf outings.

    Defense spending is definitely high in here and Virginia. I regret the shutdown of Ft. Monmouth as a lot of my friends and coworkers did great work there. Much of it has moved to Aberdeen, MD. The increased spending in MD/VA area is a direct effect of government belt-tightening that has happened during the sequester. Government travel budgets are drastically reduced, government project manager (PM) cannot travel to contractor site in XYZ state, government PM request contractor to come to him to do demo’s but can’t because of costs, contractor is cut in XYZ state in favor of guy in MD/VA. It happens for various reasons but the result is same, work moves closer to the PM when travel budgets are cut to zero.

    I need workers in MD not in NJ because that is where the PM is located and he needs to see that the work is being completed.

  102. chicagofinance says:

    Pain:
    http://www.ricksnewyork.com/default.aspx
    Painhrtz – Disobey! says:
    December 18, 2013 at 12:21 pm
    Gator, Lib any food recommendations between Penn Station and Rockefeller center. Wife is coming in to meet up with me after I’m done for the day. After she gets done with the stupid tree she’ll want to eat. I hate going to that tourist trap but lost the argument. Reasonably priced I’m looking at you captain cheapo!

  103. joyce says:

    hahahahahahahaha

    Nicholas says:
    December 18, 2013 at 4:02 pm

    government belt-tightening that has happened during the sequester.

  104. Painhrtz - Disobey! says:

    Well lib they were a drug against war

  105. chicagofinance says:

    You know the photovoltaics become inert (‘spent’ a better word?) after about 15-20 years and need to be replaced too?

    xolepa says:

    December 18, 2013 at 12:37 pm

    re: Solar panels

    The SREC market – essentially NJ’s system of solar reimbursements – crashed 2 years ago. But, so has the cost of panels. Essentially, a wash out.
    Best way to do an install is to find an expert who has that mini-satelite dish looking tool that will tell you how well your location is suited ALL-YEAR ROUND. Once you do that, you can calculate your cost-benefits. Remember, fed solar credits expire in two years. Solar installation used to be about $5 per watt. It is now in the $2-3 range. For more details on the market place:
    srectrade.com
    markets.flettexchange.com

    BTW, I wanted to install panels in my yard 10 years ago when the SRECs first started in NJ. New Jersey would rebate 70% of total cost back then. Plus SRECs were at $700 per kw. My cost breakeven would have been 4 years and all positive cash flow after that.
    Wife killed the dream.

  106. Painhrtz - Disobey! says:

    Chi haha that will fly I’ll tell her we are going to see a show with a make it rain dance

  107. chicagofinance says:
  108. Painhrtz - Disobey! says:

    Nice.but she settled on Indian so I’ll overpay for something we can get at home for cheaper

  109. xolepa says:

    (109) That’s a given, But in that timeframe, you will pay one tenth of the cost of circa 2013 panels. The infrastructure will still be there. Inverters would be replaced by then, too. At 1/10th the cost.

  110. anon (the one one) says:

    whatever happened to that one-eyed canadian owner of limelight? drug bazaar to no end. giuliani shut those fukcers down. palladium was my joint, picked up an aussie chick there in early 90′s who drove me wild. they made it a nyu dorm

  111. Street Justice says:

    Nicholas, I’m not sure it matters to me what president is responsible, what’s concerning is that growth in the DC area is not necessarily as a result of any organic growth of the local economy. It seems to be mostly as a result of government spending. This may be good for DC, but it sucks for the rest of the country. It is also unsustainable.

  112. I hope anon ends up eating his dog.

    Or Yellen’s fingers.

  113. It’s all unsustainable. It’s all spinning out of control.

    Panic stations, people. It’s all turning to shit.

  114. Printing a dollar to monetize bad debt is no different that 60 bn, 75 bn or 90 bn. The patient is dead, and the corpse is beginning to rot.

  115. On second thought, anon is the sort of asshat who ends up getting eaten by his dog.

  116. Street Justice says:

    N.J. sues Credit Suisse over mortgage securities soured in financial crisis

    http://www.nj.com/business/index.ssf/2013/12/nj_sues_credit_suisse_over_10.html#incart_river_default

    New Jersey today filed a civil suit against a unit of the investment bank Credit Suisse and two of its affiliates over representations they made about more than $10 billion worth of debt investments that ended up turning sour during the financial crisis.

    In a lawsuit filed on behalf of New Jersey’s Bureau of Securities, the state accuses Credit Suisse Securities and others of both misrepresenting the risks and failing to disclose major defects of residential mortgage-backed securities it sold investors.

    These undisclosed items include Credit Suisse’s own finding that some 25 percent of the loans underlying these securities were “underwater,” or owed more than they were worth, and that the bank’s own traders refused to hold them at the same time they were being sold to investors, the state’s Office of Attorney General said in a statement.

    The state also claims that Credit Suisse failed to disclose that it had abandoned its underwriting guidelines for assembling these securities and that some originators of loans had poor track records of delinquencies and defaults.

    “The kind of conduct described in this lawsuit is the kind of conduct that helped put the nation in financial crisis, with loan originators and investment banking firms abandoning prudent lending guidelines in order to generate quick profits,” acting Attorney General John Hoffman said.

    “Ultimately, it was consumers who suffered the harm caused by these reckless lending practices, and by the misrepresentations used to make these doomed investments seem attractive.”

    Also named in New Jersey’s suit were Credit Suisse First Boston Mortgage Securities and DLJ Mortgage Capital. The suit was filed in Superior Court of Mercer County.

    A Credit Suisse spokesman said the bank denied any wrongdoing and said New Jersey simply rehashed claims previously made by the New York attorney general and private litigants.

    “This complaint is without merit. It recycles baseless claims and uses inaccurate and exaggerated figures. We look forward to presenting our defense in court,” spokesman Drew Benson said in a statement.

    Today’s case follows another lawsuit New Jersey filed last month against the Wall Street rating agency Standard & Poor’s, alleging it failed to be independent and objective when it assigned overly optimistic ratings to complex securities that ended up flopping in the financial crisis. In that matter, S&P also said it would fight the claims.

  117. The Original NJ ExPat, cusp of doom says:

    [87]&[90] Nicholas – Who’s the Luddite ? I think you’ll find that Obama took office in 2009 if you do some research. You’ll can also search for the correct spelling of Luddite while you’re at it. You seem to favor Google for it’s search capabilities? You should continue learning how to make it work for you.

    NJ ExPat, this information was one Google search away and freely available to the public. Why in the world would you bet when the information was right there? Now you just look foolish as you tried to bash OB and came out looking like a Ludite.

    Aaaand, OB took office in 2004 not 2008.

  118. The important date isn’t when Bojangles took office, it’s the day when he finally GTFO and stops monkeyhammering the 50,000 or so of us left who still have a brain and want to work.

  119. JJ says:

    I took wife and Kids to McCormicks which looks really fancy by Rock center. They dont advertise it but they have an amazing kids menu with large portions and full sundaes for very cheap. But if kids are not well behaved eating lunch in a place with folks in business suits is unnerving.

    Connoly’s the Irish Pub is near tree, good menu good guiness, good prices. One has a big fireplace.

    Or just go to Heartland Brewery, sure it is a big touristy but right by tree.

  120. JJ says:

    Q. Why did the Indian walk the dog?

    A. He wanted lean meat.

    Painhrtz – Disobey! says:
    December 18, 2013 at 4:40 pm

    Nice.but she settled on Indian so I’ll overpay for something we can get at home for cheaper

  121. Painhrtz - Disobey! says:

    JJ that joke works better in china or vietnam

    Gator thanks for the rec Utsav was excellent and did a big circle through rockefeller center and Bryant park with only one argument about having me in a tourist trap.

  122. Michael says:

    “Contextually based information to consider: if you live in Western NY (where I am originally from) vs. Here in NJ (where I now reside) the salaries are not very far apart yet the cost of living is ENORMOUSLY different. Starting at $55,000 here but $48,000 in NY may seem like a lot of money, but it isn’t when your home costs 1/3 of NJ real estate. The type of information presented in this article is essentially useless without considering where you live vs. how much you earn.”

    http://www.nj.com/education/2013/12/10_states_with_the_highest_pai.html#incart_river_default

  123. chicagofinance says:

    un mod?

  124. Bystander says:

    Michael,

    JJ explained this already. Teachers in NJ are all married to cops making 150k or traders making 750k. In western NY, teacher is married to another teacher so you only make only 98k combined. This is 100% true, no exaggerations of course

  125. JJ says:

    And the best part is in NJ and NY we have entitlement programs so we never pay f0r anything.

    Award winning free schools, transit check for commute, FSA, 401K matches, Free school lunches, free medical, free cell phones, free uniforms, free boardwalks. Heck Chris Christie is rebuilding everyone’s beach house for free.

    At my beach condo we got FEMA funds to rebuild our Tennis Facility into a world class facility and our boardwalk too. I would invite you all but it is resident only. God Bless the United States. Where even the poorest folk live like kings as ever want and need is provided by our Rich Uncle Sam.

    God Bless Free Market Capitalism.

    Bystander says:
    December 19, 2013 at 9:57 am

    Michael,

    JJ explained this already. Teachers in NJ are all married to cops making 150k or traders making 750k. In western NY, teacher is married to another teacher so you only make only 98k combined. This is 100% true, no exaggerations of course

  126. Michael says:

    133- lol….. I said it before and I will say it again. The people that think 70,000 to 100,000 in northern jersey is a lot of money are on crack. If you expect people to go through college and be happy about topping out at 90,000 in north jersey you are crazy. If a house in a decent community could be had for 300,000 to 350,000, this would not be a problem. If a decent place could be rented out for 1500 to 2000, again, this would not be a problem. Otherwise anything under 100,000 is a joke, esp if you have to raise a family on it.

  127. Michael says:

    132- Great article!!! Damn I feel bad for people born into that mess in Camden. What makes it even more sickening is the following list. These guys made more money this year than the people of Camden probably made in the last 20 years.

    2. Bill Gates made $11.5 billion

    The world’s wealthiest man ended the year with a personal net worth of $72.6 billion, up nearly 19 percent from $61.1 billion in 2012.

    1. Warren Buffett made $12.7 billion

    Berkshire Hathaway’s (BRK-A) (BRK-B) CEO personally made about $37 million a day in 2013, a year that saw the company’s acquisition of Heinz and Nevada’s NV Energy.

    http://www.dailyfinance.com/2013/12/19/10-billionaires-made-most-money-2013/

  128. AG says:

    Shave 10 billion a month half of which are MBS. Fed politics at its best. Bernanke couldn’t have rolled out the carpet any redder for Yellen. Now watch 10 years migrate over 3.0 in a redux of last spring. Yellen to the rescue. Lmao

  129. All turning to shit. Too far gone to fix.

  130. chicagofinance says:

    Ragnar, grim…anyone else? Anyone who is a DFA fan?

    Contact me…….
    http://www.chicagobooth.edu/alumni/events/showEvent?eventId=4994

  131. JJ says:

    If you read financial statements of many employers in tri-state area that pay well you will notice SS is only with held in the first quarter as most employees hit limit.

    Some firms like Goldman majority of employees max out on SS in January.

    hard to comprehend to folks who are cops and firemen bragging in bars they make 100K a year to the young girls that plenty of folk make 100K a month!

    Michael says:
    December 19, 2013 at 10:29 am

    133- lol….. I said it before and I will say it again. The people that think 70,000 to 100,000 in northern jersey is a lot of money are on crack. If you expect people to go through college and be happy about topping out at 90,000 in north jersey you are crazy. If a house in a decent community could be had for 300,000 to 350,000, this would not be a problem. If a decent place could be rented out for 1500 to 2000, again, this would not be a problem. Otherwise anything under 100,000 is a joke, esp if you have to raise a family on it.

  132. Bystander says:

    Mike,

    ..and good luck trying to find a job in Finance that pays more than 125k unless in front office. You will most likely never hear back if you tell hr or recruiter that with 15 years experience, you expect 150k or higher. They lump 5 – 15 years into one pay bucket now. Mark Sanchez has 5 years experience, Peyton has 15+. Big difference.

  133. JJ says:

    Work has always been a pyramid scheme in Finance.
    At age 25 tons of cube jobs for you
    At age 35 lots of Supervisor/Manager/AVP jobs for you
    At age 45 very few SVP or Managing Director Jobs for you
    At age 55 extremely rate Corner Office, Head of Finance CFO type jobs for you.

    Trouble is there are as many 25 year old males as 55 year old males. But at 55 you are over qualified for the tons of grunt level jobs and you are 20 years older than the supervisor level. You are right age for corner office job, and if you are in the corner office just hold on tight as long as possible. But if you are 55 already if you are unemployed very hard to get back in.

    At may age and I am not ancient jobs are hard to find as I can only be a Head of or SVP or MD etc. So unless someone comes knocking with guaranteed money you love the job you have.

    Adding to the issue of older folks not leaving is severance and unvested comp.

    If you are lets say 55 and been in job ten years. Well most companies do severance of one month a year with a max of one year. And all unvested comp vests.

    So unless you get a huge pay cut, you are taking a huge risk. Stay where you are in at 57 they say get out you get one years pay, a six figure vested stock grant move and at 57 they boot you in the new job a few weeks pay and out the door.

    Which means someone who worked from 21 to 46 a full 25 years and finally got that big corner office over looking the water. He has a death grip on it till security comes up and escorts him to curb.

    Bystander says:
    December 19, 2013 at 12:28 pm

    Mike,

    ..and good luck trying to find a job in Finance that pays more than 125k unless in front office. You will most likely never hear back if you tell hr or recruiter that with 15 years experience, you expect 150k or higher. They lump 5 – 15 years into one pay bucket now. Mark Sanchez has 5 years experience, Peyton has 15+. Big difference.

  134. Bystander says:

    That is bible truth, JJ. Problem is that between 2008 until now, at least 70% of people I know got canned from a Finance job. These are huge department swipes mostly, not personal. At 40, my two coworkers are mid-50s consultants after being directors elsewhere. Now, they are fighting to get a FT gig but only being offered VP level. They are fighting with 30 somethings for that. They will remain consultants bc pay is more. This is new reality. When WS does well, lots of pay levels but now you are lumped into a bucket and offered low pay.

  135. joyce says:

    http://www.ctpost.com/news/article/Report-Bridgeport-officer-shot-5071216.php

    Fabius,
    This fits your bill as someone who was too stupid to be trusted with weapon.

  136. chicagofinance says:

    I am embarrassed…..I actually did not know what a “butt plug” was until 60 seconds ago…..

  137. Bystander says:

    Mike,

    I have been experimenting with my resume lately to see what comes back in different areas of country. I did suburban Philly to suburban NYC/Bergen. Consulting pay was basically same…but house costs and taxes?? Media, PA is 13th ranked school district in PA, same as Harrington Park,NJ. A 1400 sf home needing work was 329k with 4k taxes. In HP? 489k with 12k taxes. People live in this area bc there is a chance to make lots of money, as JJ indicated. But so few reach that level and by 40 with young family and no chance to get SVP, better to GTFO.

  138. The Original NJ ExPat says:

    Did you find out the hard way?

    I am embarrassed…..I actually did not know what a “butt plug” was until 60 seconds ago…..

  139. JJ says:

    Chifi do you know what Ben Wa balls are?

  140. chicagofinance says:

    Yeah….he’s the frat brother of my friend from work in the 90′s. I think his name last name Wah, and he got the name Ben when he was a teenager. In college, he just became Benwahballs……always used to address him….no exceptions….

    JJ says:
    December 19, 2013 at 2:33 pm
    Chifi do you know what Ben Wa balls are?

  141. chicagofinance says:

    I am confused….is this your cryptic way of saying that you would never consider using a butt plug?

    Juice Box says:
    December 19, 2013 at 2:22 pm
    NIMBY

  142. The Original NJ ExPat says:

    Man: Do you know the difference between a chicken sandwich and a bl0wj0b?
    ChiFi: No I don’t.
    Man: Let me buy you lunch.

  143. Marilyn says:

    Only one more day of John Gambling. I am so sad. One more day!