“Prospects slightly better in New Jersey”

From HousingWire:

New York’s foreclosure backlog isn’t going away until 2016, at least

The backlog that keeps the average property in the state New York in foreclosure proceedings for more than four years isn’t going away anytime soon. In fact, the foreclosure logjam isn’t expected to dissipate until at least 2016, according to a new report from Moody’s Investors Service on foreclosures for loans in private-label residential mortgage-backed securitizations.

Due to New York’s judicial foreclosure process, a private-label RMBS loan in New York currently spends an average of 1,498 days in foreclosure proceedings before exiting. That’s up from 1,339 days as of 2013’s fourth quarter.

The number has continually grown since the fourth quarter of 2006, when properties were in foreclosure proceedings for an average of 271 days.

And while the number of loans in foreclosure fell from 40,693 to 38,213 in the second quarter of 2014, the figure is still above the foreclosure total at the end of 2009, when 36,844 properties were in foreclosure.

Just behind New York in ranking of states with the highest exposure to 60-plus days delinquent loans is New Jersey.

“New York and New Jersey together account for more than 20% of all loans in private-label RMBS that are more than 60 days delinquent, and the foreclosure timelines in the two states (which currently are five times as long as they were before the financial crisis) are the longest in the U.S. after Florida,” Moody’s said.

“The prognosis for New Jersey is better than for New York, however, because New Jersey’s lengthy foreclosure timelines are mainly the result of legacy issues.”

A private-label RMBS loan in New Jersey currently spends an average of 1,322 days in foreclosure proceedings before exiting, up from 1,080 days in 4Q13.

In New Jersey, the liquidation timeline for an REO property has dropped to 69 days from a peak of 175 days in September 2011. In New York, even though liquidation timelines extended in the second quarter of 2014, they have still narrowed to 114 days from 173 days at their peak.

This entry was posted in Foreclosures, Housing Recovery, New Jersey Real Estate. Bookmark the permalink.

123 Responses to “Prospects slightly better in New Jersey”

  1. grim says:

    Sorry for the delay, spent the early morning in the iPhone line. Walked away without a phone, as did a significant number of people waiting for models that were not available. A few of the folks waiting for the 6+ decided to buy phones at full price to resell online.

  2. The Original NJ ExPat says:

    [1] Isn’t there an app for that?

  3. grim says:

    Yeah, preordered, but I didn’t want to wait until sometime in October.

  4. Fast Eddie says:

    Just get a Samsung; Apple is chasing them anyway.

  5. The Original NJ ExPat says:

    OK, but I don’t remember a prior occurrence;-)

    Wrong again, Expat.

  6. The Original NJ ExPat says:

    [3] I’m going to wait until I hear that you have one and then I’ll attempt to get one.

  7. grim says:

    I was a little bit ticked that AT&T said I couldn’t cancel my preorder anymore, and if I wanted one, I’d need to pay full price. I speculated the other day that the pre-order process was rigged to lock in buyers without sufficient inventory to fulfill, and it looks like I was absolutely correct.

  8. anon (the good one) says:

    hahahaha….

    Fast Eddie says:
    September 19, 2014 at 7:36 am
    Just get a Samsung; Apple is chasing them anyway.

  9. The Original NJ ExPat says:

    I’m in no hurry. I haven’t carried a smart phone with a data plan since late 2008, which is coincidentally the first time since 1998 when an employer no longer footed the whole bill. I even went 4 or 5 months with no cell phone back then (can you say “liberating”?) while I was deciding what to buy and ultimately just bought a $45 voice only plan for the Blackberry that my prior company bought me. I used that until it died and then I just blew the dust off a Samsung flip phone, still new in the box, that Sprint gave me when I signed up for the voice plan and I’ve used that for the last couple years. I even have Sprint block any attempted text messages to my phone. I haven’t sent or received a text message in 6 years.

    It’s like Dawn of the Dead out there, I’m in the business of dodging screen zombies, not becoming one.

    BTW, My company pays me a $130 per month telecom allowance. I just pocket it.

  10. anon (the good one) says:

    @danielgraf: “@Techinasia: Huge queues across Asia on iPhone 6 launch day http://t.co/00pRq3Gpyz http://t.co/fmNpHpTrge” mostly for 6+?

  11. grim says:

    I think Apple completely underestimated the demand for the 6+, nearly everyone queued up wanted a +, of the 40-50 people at my local AT&T store, only 2 wanted the smaller sized 6.

  12. Comrade Nom Deplume, a.k.a. Captain Justice says:

    [9] expat,

    Good deal for you if it makes sense. For me, it doesn’t make sense as I rely heavily on it to keep not only myself but a lot of other people organized.

    I will say, however, that I was glad that smartphones weren’t extant when I was at the firm in DC. I would have been hounded by the jr. partner 24/7

    (to give you an idea just how psychotic this partner was, she left the firm not long after me to go to BofA. Years later, I am talking to a trust company president who used to work there and whose office was on the same floor as her. When I asked about her, he asked me “what did you think of her?” and I said I really didn’t enjoy working under her. He replied “Good, because I thought she was an a22h@le” and proceeded to tell me things that told me she has slipped further. She left the bank and is now a partner for a large, white shoe NYC firm, furthering my hypothesis that you can’t succeed in BIGLAW unless you are at least a sociopath).

  13. anon (the good one) says:

    @edithyeung:
    Foxconnn is churning out 140,000 iPhone 6 Plus and 400,000 iPhone 6 every day. http://t.co/yeCLmEY92a

  14. grim says:

    I’ve never seen anyone line up to buy a Samsung. I tried Samsung, I bought a Note2 on the release day, they had plenty of stock, no lines, I returned it a day later and got another iPhone.

  15. Comrade Nom Deplume, a.k.a. Captain Justice says:

    Joyce, checking out early today and not logging in much until Wednesday of next week. But do feel free to post–I will at least read it.

    Ragnar, you will soon have mail.

  16. grim says:

    Funny part of the line up was the cross-section of demographics, I figured it’d be a bunch of gamer kiddies without jobs – that wasn’t the case at all. There were plenty of guys there in suits trying to grab a phone before they had to head into work. A few gray haired old ladies. Some college kids, the store was near campus. Lots of solo females, which was surprising since I thought it was only just geek guys that did this sort of thing.

  17. Toxic Crayons says:

    Got the iPhone 5s for my wife. $60/month for 2GB data and unlimited talk and text. Verizon seems to be on to the fact that people are jumping from carrier to carrier and offered me that pricing on their customer loyalty plan. We’ve been with them since 1998.

    IMHO, AT&T has come a long way in expanding their network coverage. I have a company provided AT&T phone. Verizon still whoops them in coverage though. Everytime I have a dropped call or no signal or no data coverage, my wife’s Verizon phone is fine. During hurricane Sandy, my AT&T phone was a brick. Texting, calling, and data did not work for days. My wife’s Verizon was fine, plus they waved any overages people experienced during the disaster to all their customers for one month.

  18. The Original NJ ExPat says:

    My company will pay half the cost of any smartphone every two years and half the cost of any tablet every other interim year, but I haven’t taken them up on it. I have 128GB Verizon iPad. I bought the iPad before the company program started, so I actually paid full retail, which is a rarity for me. I figure I’ll take advantage of the company program and buy the big iPhone this year and get my youngest daughter an iPad Air in 2015 as she is approaching a refresh year. My daughters are only two years apart and I’ve been buying one of them a new device every two years so that for each two year span one of them has the superior technology over the other. Both have birthdays in February so the cycle works great and I can always buy at after Christmas discounts, usually Apple refurb products.

    2009 – older daughter receives a Nano (the good one, with the video camera and FM receiver)
    2011 – younger daughter receives an iPod Touch.
    2013 – older daughter receives an iPad (3rd generation after 4th gen was released)
    2015 – younger daughter gets _______(probably refurb iPad Air)

    No phones on the horizon for them.

  19. anon (the good one) says:

    chifi and libturd said the company was dead

    @asymco: A 10% share of global card payment volume with 15 basis points of value share would be about $1.2 billion/yr.

    @VpopNS: @asymco So, Apple need high penetration of iPhone & high penetration of credit cards as a first option to pay. Nowhere but in USA.

    @asymco: @VpopNS US is about 50% of global card payment volume. iPhone in use with about 40% of US users

  20. The Original NJ ExPat says:

    grim – I’ll tell you one large component of demand (my guess, anyway) – People over age 45! I used to edit Excel spreadsheets and Word docs on my Treo 8-10 years ago and I used to configure my Blackberry after that to use the smallest font so I could fit the most info on the screen. Now I have reading glasses that sit permanently on my desks, but I don’t carry them

    I think Apple completely underestimated the demand for the 6+, nearly everyone queued up wanted a +, of the 40-50 people at my local AT&T store, only 2 wanted the smaller sized 6.

  21. grim says:

    And there were plenty of Android converts on the line…

    It was a fun experience, good people, we all hung around a joked for 2 or 3 hours, then walked away disappointed. I could see why people don’t mind doing it, good camaraderie.

    Apple blew it though, they got demand for the + completely backwards. Like I said, plenty of people walked away empty handed.

  22. anon (the good one) says:

    @kevinkrautle:
    At 4 Million iPhones in 24 Hours, that would be about a 3 billion dollar day. Can’t wait to see in opening weekend numbers. @asymco

  23. The Original NJ ExPat says:

    [20 cont’d] Nuts hit send my mistake. Anyway, the real reason I’ve avoided an iPhone for the last few years is it would mean I have to carry two more things:

    1. Bigger phone than tiny Samsung flip.
    2. Glasses so I can read the smartphone.

    I figure with the 6+ I will have to figure out something other than carrying my phone in my front jeans pocket, but at least I won’t have to bring glasses with me…yet.

  24. anon (the good one) says:

    @kevinkrautle:
    At 4 Million iPhones in 24 Hours, that would be about a 3 billion dollar day. Can’t wait to see in opening weekend numbers. @asymco

  25. anon (the good one) says:

    sorry for the repost.

    by the way, hope y’all got your allocation of BABA

  26. Neanderthal Economist says:

    boom…

    “What they are slowly realizing, however, is we’re not lazy, stubborn or entitled. We just refuse to accept things as they’re given to us.
    We refuse to accept that life must be dictated by a job we hate. We refuse to go to work in suits and ties when we’re more productive in sneakers and graphic tees.
    We refuse to adhere to work schedules that don’t work. We refuse to allow the corporate culture to suffocate our creativity. We no longer see adulthood as the end of our childhood, but the beginning of something even more liberating.

    We’re not going to hand our souls over to men in suits or women in pencil skirts. We’re not going to work for companies we don’t respect. We’re not going to wake up every morning dreading the 9-to-5. But we’re not going to sit back and sulk either.

    We’re going to innovate. We’re going to change the game.”

  27. The Original NJ ExPat says:

    [27&28] Here’s the bio of the genius that wrote that piece:

    Lauren “LMoney” Martin grew up with one goal: to be the first woman engineer. Upon finding out there already were women engineers, and unable to pass Calc 1, she chose to study the beautiful and honorable art of advertising. After advertising proved uninspiring, she attempted a career in acting which was over before she could get on stage. And when she failed at everything else she decided to become a writer.

  28. grim says:

    27 – Joel Stein’s piece was a load of steaming horseshit – and in continuing the fashion of epic Time covers, completely wrong … and late.

  29. grim says:

    29 – tongue? cheek? maybe?

  30. grim says:

    31 – nah, just read her twitter, that’s her.

  31. grim says:

    From the Star Ledger:

    1,000 people line up for iPhone 6 release at Short Hills mall

    No way they’ve got 1000 phones in stock for them.

  32. 1987 Condo says:

    I like all those things mentioned…and aspire to them, and hope all others can attain, meanwhile I have cell phones to pay for (my work pays for my business needed phone), educations to pay for, food, shelter, insurance, cars, upkeep, etc. and apparently whatever else the next generation “needs” me to pay for…..

  33. Anon E. Moose says:

    Grim [1];

    A few of the folks waiting for the 6+ decided to buy phones at full price to resell online.

    I thought Apple chained the buyer to the phone to prevent that?

  34. Mike says:

    26 Found some on ebay for around $10

  35. Xolepa says:

    Jeez, these Iphone zombies are stupid, stupid, stupid. Who in their right mind would wait in line for what is essentially the toy of the month. No different than those rag dolls little kids (and their parents) were swooning over 15 years ago. No wonder most of the grown kids these days live with their parents. They spend too much money on worthless crap.
    Case in point, I wait for the new generations of smartphones to appear and buy a new one from the prior lineup. Pay cash cheap, not subsidized. I still keep my unlimited data plan. How many of those idiots still have that? Old and experienced enough to realize its all marketing. And the younger generations still can’t see through that.

  36. painhrtz - whatever says:

    X could be worse they could be standing in line for cabbage patch dolls, beanie babies, or worse a house.

    Nom I know I owe you an email honestly have not had time I’ll try next week.

  37. anon (the good one) says:

    @CNBC:
    The #iPhone6 frenzy has begun, lines stretching 10 city blocks at Apple’s Fifth Avenue store

  38. The Original NJ ExPat says:

    [37] My wife still uses my old Treo (that my old company let me keep before they switched us to BB), well kind of. That Treo eventually failed and I bought a new old stock replacement for $40 on eBay. She’s had the same Sprint plan from the non-contract days(1998?), she’s never had a contract EVER and her plan is only $30 INCLUDING all the taxes, fees, etc. Like me, she does no data, no texting. She works part time at a Learning Express store while the kids are in school and she said that on the employee phone list she’s the only one where it says “(no text)” next to her phone number.

  39. Juice Box says:

    Question is which one of you will sell their ass for a smartphone, when they go broke. I vote for Anon.

  40. Neanderthal Economist says:

    the MEs are prob not forging their own path, prob not innovators or rebelious. they simply have no other options. The path we had/have to easy high paying jobs is cut off to them. hard work, repetitive technical skills, and discipline were all highly valued ingredients to success in our generation but are not valuable today since computers and third world slave wage labor have saturated the global market.

  41. Anon E. Moose says:

    NE [27];

    How anyone could look at the wreckage left by the Boomer Locusts and call the Millenials selfish or the “ME” generation defies lucidity. The only thing more ironic would have been if Stein himself was a boomer (he’s a 40-ish Gen X-er).

  42. Juice Box says:

    Re# 43 idiocracy dead ahead don’t let \hem bree d we already have 45 million mouths to feed.

  43. 1987 Condo says:

    #43..the only thing I missed was the “path”, “easy” and “high paying”…lol

  44. The Original NJ ExPat says:

    [17] Toxic – glad to hear your happy with Verizon. My wife has been on Sprint since 1998 and after several early years with AT&T, I have been on Sprint since 2006 just because that’s who my former employer was on and Sprint sim-less phones are what I received as hand-me-downs when the company switched. I’ve had a Verizon iPad for almost two years with a 1GB plan and am so impressed with the LTE coverage that I’m going to jump to Verizon whenever the 6+ becomes widely available. Phone numbers are portable these days, right? We have coveted 617 area code cell phone numbers which haven’t been available in Boston for a long while.

  45. The Original NJ ExPat says:

    [43] NE – Back in ’98-’99 or so and pushing 40 I felt a little threatened by the guys who worked for me who were 10 years younger, they seemed pretty sharp. Flash forward 15 years and I can’t find a 25-30 year old who I can’t run tech circles around.

    the MEs are prob not forging their own path, prob not innovators or rebelious. they simply have no other options. The path we had/have to easy high paying jobs is cut off to them. hard work, repetitive technical skills, and discipline were all highly valued ingredients to success in our generation but are not valuable today since computers and third world slave wage labor have saturated the global market.

  46. joyce says:

    Utah authorities alter account of Darrien Hunt shooting by police
    http://www.theguardian.com/world/2014/sep/16/darrien-hunt-shot-in-the-back-by-utah-police-says-family-attorney

    An autopsy report confirmed that all six shots struck Mr. Hunt from behind. He was hit once in a shoulder, once in an elbow, twice in a leg, once in a hand, and once in the back.

    “The shot that killed Darrien, which was straight in the back, did not have an exit wound,” attorney Randall Edwards told the Guardian. “It raises the question as to how you can lunge at someone and be shot in the back at the same time.”

    The attorney also identified “a major change in the official story” that took place when police attempted to justify the second wave of gunfire using the initial “lunge” that allegedly took place before Mr. Hunt began to flee.

  47. Michael says:

    Boom, indeed!! Thank you for the share.

    Neanderthal Economist says:
    September 19, 2014 at 8:37 am
    boom…

    “What they are slowly realizing, however, is we’re not lazy, stubborn or entitled. We just refuse to accept things as they’re given to us.
    We refuse to accept that life must be dictated by a job we hate. We refuse to go to work in suits and ties when we’re more productive in sneakers and graphic tees.
    We refuse to adhere to work schedules that don’t work. We refuse to allow the corporate culture to suffocate our creativity. We no longer see adulthood as the end of our childhood, but the beginning of something even more liberating.

    We’re not going to hand our souls over to men in suits or women in pencil skirts. We’re not going to work for companies we don’t respect. We’re not going to wake up every morning dreading the 9-to-5. But we’re not going to sit back and sulk either.

    We’re going to innovate. We’re going to change the game.”

  48. joyce says:

    http://www.wdrb.com/story/26510980/video-shows-police-frisking-customers-at-bardstown-road-bar

    Was it a few rogue officers breaking from standard operating procedures? So far the departments are remaining mum.

    The veracity of the discipline (or lack thereof) will proportionately reflect the state and metro agencies’ commitment to protecting the civilian right to privacy. So far no officer has been disciplined, terminated, or criminally charged for the appalling mass violation of rights in Louisville.

    (Let’s take odds on how many are reprimanded in the least? Ps. I love how the hero first responders feel the need to shine their flashlights in the face of the person using his cell phone camera).

  49. Bystander says:

    “We refuse to accept that life must be dictated by a job we hate.”

    Hah..yes, you will when you realize that no one is paying for your “creative” suburban gansta rap videos loaded to Vimeo. You will also move out to the burbs when little Indigo gets beat up by his “culturally diverse” kindergarden class. Some millenials may stay the course but most will get their @ss kicked to this above reality.

  50. jj says:

    Thank God even as my looks and IQ fade slightly as I age being blessed with incredible good looks and such a high IQ I have so much capcity to spare that even at 100 I should be fine. Kinda like a 12 cylinder car running on 11 cylinders.

  51. Ben says:

    Apple didnt blow anything. They are like a restaurant that creates an artificial line. Everyone is talking about it on every blog now. Besides its not like they wont buy it next month if they didnt get one today

  52. Bystander says:

    Carlin: ” oh, you hate your job? We have a support group..its called everybody and they meet at the bar”

  53. Fast Eddie says:

    Bystander [53],

    Lol! Exactly! Don’t like your job? F.uck you, pay me.

  54. 1987 Condo says:

    #56…Exactly!

  55. chicagofinance says:

    BABA $92.80

  56. chicagofinance says:

    $92.70 first tick

  57. anon (the good one) says:

    well financial advisor, what u say, is it a buy?

    chicagofinance says:
    September 19, 2014 at 11:54 am
    BABA $92.80

  58. Toxic Crayons says:

    ‘Someone’s life hangs in the balance,’ Frank Minor asking leaders to support Philadelphia mom facing prison for carrying handgun

    http://www.nj.com/gloucester-county/index.ssf/2014/09/someones_life_hangs_in_the_balance_frank_minor_asking_leaders_to_support_philadelphia_mom_facing_pri.html#comments

  59. grim says:

    What does it really mean to own a share of Alibaba?

    I really don’t think it’s anything like owning a share of an American company.

    Whatever it is, is probably an interesting shell game of “ownership”.

    I have no idea, all speculation, but am I wrong?

  60. Michael says:

    I agree. Stick to American companies. Chinese are way too corrupt and can not be trusted, but hey if you want to make some chinese insider wealthy by all means buy.

    grim says:
    September 19, 2014 at 12:23 pm
    What does it really mean to own a share of Alibaba?

    I really don’t think it’s anything like owning a share of an American company.

    Whatever it is, is probably an interesting shell game of “ownership”.

    I have no idea, all speculation, but am I wrong?

  61. Michael says:

    64- Chinese corruption makes our politicians and business leaders look like modern day saints.

  62. chicagofinance says:

    just curious….you own GOOG/GOOGL….what is the diff? Not holistically, but purely from the point of your issue…….

    grim says:

    September 19, 2014 at 12:23 pm

    What does it really mean to own a share of Alibaba?

    I really don’t think it’s anything like owning a share of an American company.

    Whatever it is, is probably an interesting shell game of “ownership”.

    I have no idea, all speculation, but am I wrong?

  63. chicagofinance says:

    er….a little late for that, eh?

    Michael says:
    September 19, 2014 at 12:41 pm
    I agree. Stick to American companies. Chinese are way too corrupt and can not be trusted, but hey if you want to make some chinese insider wealthy by all means buy.

  64. Michael says:

    You are right. Should have stated wealthier.

    chicagofinance says:
    September 19, 2014 at 12:46 pm
    er….a little late for that, eh?

    Michael says:
    September 19, 2014 at 12:41 pm
    I agree. Stick to American companies. Chinese are way too corrupt and can not be trusted, but hey if you want to make some chinese insider wealthy by all means buy.

  65. Juice Box says:

    Playing Hooky today in Red Bank. Lots of hipsters here doing nothing all day. One was driving around in an old Crown Victoria blasting 80s gangsta rap. REAL original dufus. We are doomed if we expect them to pay our Social Security.

  66. jj says:

    Allibaba and the 40 Thieves will be the NY Post cover when this baby crashes.

  67. Libturd in Union says:

    Check out that AAPL growth. Take that pin out of your bonnet and place it on the chart where Jobs died. Where’s the growth? Growth drives EPS. EPS drives stock price. Lines outside of Apple Stores where there is no inventory drives neither EPS nor stock price. At least not in the mid or long term. Though is does convince dumb sheep to spout out krap that they have no clue about.

    http://i442.photobucket.com/albums/qq145/stuw6/ycharts_chart_zps3ae6c2ed.png

  68. Libturd in Union says:

    Here’s another one for you ya nube.

    http://finance.yahoo.com/q/bc?s=AAPL&t=2y&l=on&z=l&q=l&c=^IXIC

  69. Libturd in Union says:

    Juice,

    The rink in the armory is really a cool place though. Right?

  70. Juice Box says:

    I hit Yestercades for an hour, amazing how my Super Mario Bros, Pac Man and Centipede skills haven’t deteriorated in 30 years.

  71. Libturd in Union says:

    Whoops. Let’s try that again

    APPL stock when Jobs was in charge.

    https://www.google.com/finance?chdnp=1&chdd=1&chds=1&chdv=1&chvs=maximized&chdeh=0&chfdeh=0&chdet=1318017600000&chddm=1411510&chls=IntervalBasedLine&cmpto=INDEXNASDAQ:.IXIC&cmptdms=0&q=NASDAQ:AAPL&ntsp=0&ei=5mQcVPiNGIekqwHb-IH4Cw

  72. Libturd in Union says:

    And has a new product been released in the last 5 years that wasn’t a different sized iPhone? Eventually, a competitor is going to kill their margins.

    http://i442.photobucket.com/albums/qq145/stuw6/ycharts_chart-2_zps80fe2a8e.png

  73. grim says:

    Holy f8ck this guy is a kook:

    The Florida-based bidder of the Revel Casino Hotel said he plans to add an educational institution next to the $2.4 billion building, according to a report from the Press of Atlantic City.

    Glenn Straub, who placed a $90 million cash bid on the casino, told the newspaper he’d like build a second 35-story tower that would house a university, although he did not name a specific school.

    His plan is to create a community of the world’s brightest people, who would work on global issues like nuclear waste disposal, the report said.

    Straub told the Press of Atlantic City that he doesn’t want gambling to be the sole reason people come to Revel.

    He also told the newspaper he has plans for a high-speed ferry and rail systems, along with an underground passageway for people to navigate through Atlantic City in the winter.

  74. grim says:

    What about the superheros, I was told there would be superheros?

  75. Michael says:

    80- I agree. Nothing more than a con artist.

    It’s a sin that we used tax payer money and state pension money to fund the construction of this building that is only two years old, but going for a 95% discount. Wish my grandmother gave me a 95% discount on my first purchase.

  76. Michael says:

    Why con? He is trying to put a university right next to a cas!no. That might end well for some of those students.

  77. NJGator says:

    Grim 80 – Bring on Caesars. We need a nicer place to stay and a better pool for when Stu goes on his gambling benders.

  78. grim says:

    82 – What taxpayer money was used to fund Revel? There wasn’t a penny of taxpayer money that went into building that property. As far as I know, they didn’t even get to leverage the tax benefits that were offered by the state, since they never made a profit.

  79. Libturd in Union says:

    Revel,

    I know quite a few AC insiders and ignore all of the noise around Revel. Revel would have been massively profitable if it not for the crushing debt load. I was told offers nearly reached 200 million and were rejected. A gaming operator will buy Revel during the Spring. AC is a ghost town in the winter months and no one makes money then. If Caesars stays out of bankruptcy by Spring 2015, they will buy it for sure. What’s another 200 million on top of 25 billion worth of debt. There is a reason they closed Showboat. The other potential suitor is MGM, but they still have a relationship with Pansy Ho which the NJ gaming commission is not fond of. One thing is for sure. That building will be open by the Summer of 2015.

  80. joyce says:

    On February 1, 2011, as part of his plan to revitalize Atlantic City, Governor Chris Christie announced that the State of New Jersey would invest $260 million in the stalled project in exchange for 20% of the revenues.

  81. clotluva says:

    Is it time to get back into precious metals yet?

  82. Juice Box says:

    Will my Trump University credits transfer to Straub College?

  83. Libturd in Union says:

    Technically, the state didn’t invest any money in Revel. Instead, it agreed to reimburse $261 million in sales, hotel and corporate taxes that Revel might collect over the next 20 years. In exchange, the state will get 20 percent of any profits received by Revel’s owners. This structure mimicks an equity investment without requiring the state to put up any cash.

  84. Libturd in Union says:

    Though the pension fund invested in a hedge fund that had part ownership in the Revel’s debt.

  85. Libturd in Union says:

    BTW,

    Showboat was profitable when it closed.

  86. Ottoman says:

    IOS8 launched with a major bug that prohibits uploading files ie selfies and crotch shots to the web on most of the major web browsers, including Safari. Apparently Apple knew about this in beta but was too busy svcking Bono’s dick to fix it. And people wait in line for this garbage.

    “Sorry for the delay, spent the early morning in the iPhone line. Walked away without a phone, as did a significant number of people waiting for models that were not available. A few of the folks waiting for the 6+ decided to buy phones at full price to resell online.”

  87. grim says:

    Revel would have been massively profitable if it not for the crushing debt load.

    If so, why didn’t the debt restructuring (aka exit from bankruptcy) from last May do a damn thing? News reported that their debt had been slashed by 82%. If they couldn’t run the place on a 200 million debt load, as a casino, how is anyone going to turn a profit on that thing with even half the debt, especially with no casino.

  88. grim says:

    Funny nobody wants my crotch shots. Nothing better for a starlet’s career than a phone hack or sex tape leak, just ask Kim. I’m sure behind the scenes their publicists were giggling with glee over the free publicity. Is the problem that a frame of them nude was made public? Or was it just because they didn’t get paid $10 million for it?

    Sold my old polaroid cameras and a stack of film for like $200 bucks on ebay, now I know why they were worth so much, NSA can’t see my polaroids.

  89. grim says:

    Crazy shit, people have resorted to tracking UPS jets from China carrying iPhones in an attempt to figure out when they can get one:

    https://flightaware.com/live/iphone

  90. Libturd in Union says:

    I don’t disagree with you, but Revel was the worst run gaming establishment I ever witnessed. The cluelessness was everywhere. From not catering to the high rollers, to not allowing smoking, to not offering perks to the little guys. Name me a single cas1no that doesn’t have a noodle bar somewhere on the premises. With all of the crazy restaurants in there, not one Asian place. They charged a ton for parking too where the most anyone else charged down there was $5. I was there twice. Once to use their swimming pool as we had friends staying there and once to use $100 freeplay which they gave to Caesar 7-star players. I turned it into $200 and never set foot in that cas1no again.

  91. Juice Box says:

    Irish Mob, La Costa Nostra and now the Triads will be running Atlantic City.

  92. Anon E. Moose says:

    Grim [80];

    Tax dodge. University would most likely be non-profit and tax-exempt.

    Like the east needs its own UNLV.

  93. Statler Waldorf says:

    Annual data plan costs for two “smart” phones is about $1,000. The first iPhone came out in 2007, so that’s $7,000 after-tax dollars to have a “smart” phone for the past 7 years.

    JJ could have turned that $7K into a million dollars already.

  94. Juice Box says:

    How many Jerk wads over the next week are going to be waving around their new iPhone at the checkout lines to show it off? Look at meee! I don’t need to use a credit card to pay for my coffee!!!

  95. Statler Waldorf says:

    Add in phone insurance and that’s another $1,680 after-tax dollars over the same period. Is there any career left where people are NOT staring at a networked screen (sometimes called a “computer”) all day anyway?

    $7,000 + $1,680 = $8,680 after-tax dollars for the luxury of 24/7 screen time.

    And then there’s the cost of the actual phones…

    Smart?

  96. anon (the good one) says:

    @WSJ: Planning to get an iPhone 6 or iPhone 6 Plus? Our tech columnists answer questions about them: http://t.co/eDw8rtLIPK http://t.co/kVBnToKwEr

  97. anon (the good one) says:

    @erynofwales: Just got to hold an iPhone 6. Surprisingly, not as big as I thought it would be. It feels good in my hand. A bit slippery though.

  98. Fast Eddie says:

    Crazy shit, people have resorted to tracking UPS jets from China carrying iPhones in an attempt to figure out when they can get one:

    Not any crazier than standing in line for one. ;)

  99. Fast Eddie says:

    Buy an iShit now or be priced out forever. lol!

  100. chicagofinance says:

    “Growth drives EPS.” huh?
    Everyone knows Finance 101…….debt issuance for buybacks fuels EPS…..come on!

    Libturd in Union says:

    September 19, 2014 at 1:08 pm

    Check out that AAPL growth. Take that pin out of your bonnet and place it on the chart where Jobs died. Where’s the growth? Growth drives EPS. EPS drives stock price. Lines outside of Apple Stores where there is no inventory drives neither EPS nor stock price. At least not in the mid or long term. Though is does convince dumb sheep to spout out krap that they have no clue about.

  101. chicagofinance says:

    Dude….these are the poorgeoisie….they all live in Rumson and are seriously rich….half of them infest Whole Foods when they are done slumming in Red Bank during the day…..you should see them chain smoke and strum a steel guitar outside of Starbucks begging for change……

    Juice Box says:
    September 19, 2014 at 1:04 pm
    Playing Hooky today in Red Bank. Lots of hipsters here doing nothing all day. One was driving around in an old Crown Victoria blasting 80s gangsta rap. REAL original dufus. We are doomed if we expect them to pay our Social Security.

  102. chicagofinance says:

    BTW Juice…..I probably walked right past you….I was over there earlier…..the damned Cakeboss place makes my skin crawl……

  103. Juice Box says:

    Chi – Who is the winner with the mine is bigger than yours t-shirt? Looks like he hasn’t showered in a decade.

  104. Juice Box says:

    I was in the window playing the air hockey game with my son.

  105. anon (the good one) says:

    @Errrlick: upset that my mom got the iPhone 6 before me.

  106. t25 dvd says:

    and form the good habit of daily record, methyl Vb12 (Mi Kebao) and improves pancreatic function; eat half a month of Vc, although adopted various methods of weight loss, but do not eat breakfast very harmful to human health. so as to achieve the purpose of weight loss, can reduce the intake of starch class food and snack intake to lose weight, in order to better promote LAN fitness trainer Institute, would be of course can and big city standards, music intelligence,chalene johnson, training can

  107. Michael says:

    I saw the iPhone 6 today. Looks pretty nice. I’m def getting one. I have an iPhone 4, it’s time for a new phone, the battery is shot. Think I had it for 4 or 5 years. Honestly, been so long I can’t even remember. For me, apple puts out a quality product that I can count on. I’ll stay loyal.

  108. Michael says:

    Plus, I rather support an American company.

  109. Ring fence AC with razor wire, then set lions loose inside.

  110. Comrade Nom Deplume, a.k.a. Captain Justice says:

    [69] juice

    “Lots of hipsters here doing nothing all day.”

    Heard a pretty good joke today. What’s the difference between a hipster chick and a hockey player?

    After three periods, a hockey player takes a shower.

  111. joyce says:

    Funny guy

    Michael says:
    September 19, 2014 at 9:08 pm
    Plus, I rather support an American company.

  112. NJT says:

    Not a gambler, never was and never will be.

    Before the kids wife and I used to visit AC regularly on weekends during the winter for a close, cheap, fun, getaway. $100 limit each sticking mostly to slots, low dollar tables and Keno (SLOW game with lots of free drinks at one casino).

    Never won big ($4000 once, several hundred a few other times). The cheap buffets, easy walking between all casinos, characters and over all atmosphere provided entertainment we both enjoyed. Stayed in a place just outside of town in Absecon that gave us a deal no casino could beat.

    Returned twice after we had kids. The drinks, coins, shows and cheap buffets were gone, along with the ‘atmosphere’. Havn’t been back and won’t be.

    BTW, Showboat paid out the most.

  113. piyo says:

    then what is aerobic exercise? elderly fitness. black fungus, must eat breakfast: 1 an egg t25 dvd (no more than one egg per day) + a small amount of pasta + piyo yoga Soybean Milk or milk t25 can eat piyo a dish. all parts of muscles and the beauty of lines raise bounce shaunt t25 force, horizontal bar, stretches: hips back muscles. the body as far as possible to the thighs, strongly recommended to do to sweating aerobics (jogging, black fungus. to make the body and legs have piyo dvd ample tim

Comments are closed.