BEFORE it strangles the city?

From the Record:

Paterson’s foreclosures jumped by more than 500 percent over three years

City documents say a surge in foreclosures has cost Paterson’s municipal government about $12 million in tax payments over the past three years, part of an erosion of the tax base that officials warn could take decades to overcome.

The number of foreclosures in Paterson jumped from 75 in 2011, to 207 in 2012 and to 413 in 2013, the documents say. In addition to the $12 million in taxes lost to those foreclosures, Paterson last year also had to refund $9 million for tax refunds, the documents say.

That bleak scenario was outlined in the city’s 2015 application seeking Transition Aid from the State of New Jersey. The application says the foreclosures have resulted in an increase in the number of vacant properties in Paterson.

“Hence many neighborhoods throughout the city are experiencing vacant properties that bring more crime and deepen the urban blight syndrome,” reads Paterson’s Transition Aid application.

“What this means in the long-term is that the city will find it harder, even impossible, to recover its tax asset base,” says the application. “Once this happens, the recovery is slow at best and can take decades. We need to arrest this problem before it strangles the city.”

If Paterson received the full $27 million being requested, that would allow the city to avoid a municipal property tax increase for the current fiscal year. At present, the city’s preliminary 2015 budget would produce a 5.2 percent tax increase. But officials insist that number will be reduced no matter what.

Torres said he expected the ongoing property revaluation will help mitigate the foreclosure problem. Moreover, he said his neighborhood stabilization program – a plan under which the city would take control of abandoned properties and bundle them in deals with developers – would revive some struggling parts of the city.

Morris said the foreclosures were a symptom of bigger economic problems confronting Paterson. “I don’t think we’ll see an end to the foreclosure problem until we see an end to the unemployment problem,” Morris said.

Paterson has endured a steady succession of municipal tax increases, including a whopping 29-percent hike in 2011. Morris said the increase contributed to the rise in foreclosures, but he said “the banking industry played a bigger role.”

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

74 Responses to BEFORE it strangles the city?

  1. Mike says:

    Good Morning New Jersey

  2. 1987 Condo says:

    I thought this article highlighted some concerns with buying condo/coops as far as unanticipated expenses….

    Land Deal Pushes Out Some at Manhattan’s Trump Plaza

    Purchase of Building’s Property Sparks Co-op Sales Due to Assessment

    Suh Park in her 30th-floor co-op in Trump Plaza. She is selling the unit because of a new land assessment. Suh Park in her 30th-floor co-op in Trump Plaza. She is selling the unit because of a new land assessment. Natalie Keyssar for The Wall Street Journal
    By
    Josh Barbanel

    Nov. 12, 2014 9:39 p.m. ET

    Suh Park, a painter, loves her light-filled, one-bedroom co-op on the 30th floor of Trump Plaza.

    But in an only-in-New-York surprise, she suddenly needs to come up with close to $900,000 she doesn’t have to keep her apartment, which has a terrace facing Central Park.

    Last week, the co-op board signed a contract to pay $185 million to buy the half-acre of land on which the 39-story tower stands at East 61st Street and Third Avenue. The cost of the land purchase will be paid in assessments by the owners, including Ms. Park.

    The assessment exceeds the current value of Ms. Park’s apartment based on recent sales in the building. Stunned, she has reluctantly put it on the market. “I was very happy to stay here,” said Ms. Park, who has lived in the building for 18 years. “I love the light and the views.”

    Many prime Manhattan properties, including Rockefeller Center, have been built on land with long-term leases. (In 1985 Columbia University, the owner of the land under Rockefeller Center, for example, sold out for $400 million.) Several dozen co-ops stand on leased parcels, including some recent developments such as the former Stanhope Hotel on Fifth Avenue and the Mark on East 77th Street.

    Lawyers for co-op buyers in these buildings warn that apartment values can plunge as leases near their end or approach a reset, a legal trigger that raises the lease payments, said Steven Wagner, a co-op and condo lawyer not involved in the Trump Plaza transaction.

    With land prices so high, Robert Knakal, chairman of Massey Knakal Realty Service, said that other co-ops built on leased property will face similar shocks in the future. “This is an epidemic that is going to impact a significant number of co-ops.”

    At the Trump Plaza, the board said it needed to buy the land to avoid a reset that was due to go into effect in 2024. It would have raised the annual lease payments to 8% of the market value at that time, about 10 times current lease payments, according to co-op estimates.

    Some of Ms. Park’s more-affluent neighbors in the building applauded when the board announced the deal at a shareholder meeting a few weeks ago. Others, with more limited incomes, were distraught. A group of 15 shareholders, who say they can’t afford the payments, have banded together to consider a legal challenge to the decision.

    As Donald Trump planned the limestone-and-bronze tower on East 61st Street in the early 1980s, he said, he was unable to persuade the land owner, Donald Ruth, to sell the property. “He was totally attached to it,” Mr. Trump said recently. “He wanted me to do the deal, but he didn’t want to sell.”

    At the Trump Plaza co-op meeting, Jonathan Miller, an appraiser and consultant to the board, said that with land values soaring, the expensive lease would lead to a fourfold increase in maintenance payments, essentially making the apartments worthless, according to people present. Ms. Park’s maintenance is about $2,860 a month, but will fall 18% when the building no longer has to make lease payments.

    Faced with this choice, the board had reached out to Mr. Ruth’s son Philip for several years, and offered to buy the land. Mr. Ruth brought in Adam Spies and Douglas Harmon of Eastdil Secured to market his land to both outside investors and to the board, which made a deal.

    “Ultimately they were sitting on a melting ice cube,” Mr. Spies said.

    Residents said they were told that the price was steep but could lead to the doubling of their apartment values. The price works out to $706 a gross square foot in the building, or $825 a salable square foot. Some Manhattan land prices have topped $1,000 a square foot. Mr. Ruth didn’t respond to a request for comment.

    Mr. Trump, who still owns two apartments in the building, said he supported the deal, which he said would cost him more than $3 million. He said the cost to each owner was “a lot of money” but would take the building to a “whole different level.”

    The board said it expected most shareholders to take out mortgages or refinance to pay the assessment, while about a third will simply pay cash. Those unable to afford the assessment were told they would be offered short-term financing through the building to enable them to stay for a few years.

    “I am very happy. This is going to put the value where it belongs,” said Dennis Mourry, who paid $1.06 million in 2006 for a 31st-floor apartment.

    Ms. Park, who was raised in South Korea and studied art in California and New York, said her income was uneven. Some years she her paintings sell well, while in others she sells nothing. That makes it impossible to get a large mortgage.

    Working with her broker, Marilyn Fleming of Halstead Property, Ms. Park listed her 1,000-square-foot apartment for $1.7 million.

    That price includes the $800,000 her apartment would have been valued at a few weeks ago and the roughly $900,000 assessment that will be due.

    She said she “completely understands” that the building didn’t have any options. Still she said, “it is very depressing.”

    http://online.wsj.com/articles/land-deal-pushes-out-some-at-manhattans-trump-plaza-1415846349

  3. Juice Box says:

    1.7 mil for a 1 bro leave near the Donald? GFY

  4. 30 year realtor says:

    Paterson is the epicenter of the heroin problem in the Northeast. Perhaps the city would have a stronger chance for economic recovery if they eradicated the heroin problem rather than worrying about vacant houses.

  5. 30 year realtor says:

    There is strong demand for multifamily homes in Paterson for rental. Every piece of sh*t 2 family I list for banks gets close to 10 offers, usually above asking price.

  6. chicagofinance says:

    “I loved the smell of rigor mortis deer carcass in the morning…….it smells like victory”…..

  7. painhrtz - whatever says:

    Well looks like my alma mata is buying the showboat

    http://news.yahoo.com/jersey-college-buys-atlantic-citys-closed-showboat-c asino-233921738–finance.html

    Stockton was a weird place to go to school

  8. painhrtz - whatever says:

    obviously had to break the link because it had the devil word c a s i n o in it

  9. Toxic Crayons says:

    Pain, Will they pay property taxes to AC or will they be tax exempt?

  10. Libturd in the City says:

    I’m not sure how they can convert two hotel towers and a large cas1no floor into a college, but it will be interesting to watch. If I went there, the distractions would simply be too great. Especially when the Revel reopens next door in the Spring.

  11. Anon E. Moose says:

    Pain [8];

    Trying to be UNLV East? The “Rebel” thing could work in south Jersey.

  12. Anon E. Moose says:

    Lib [11];

    Already a precedent: UNLV

  13. Pete says:

    #11,

    Actually it seems like it could work out to be convenient to students. The rooms are now dorm rooms, meeting rooms are classrooms, restaurants could be dining areas, floor area could make a nice libarary. I remember my days at Rutgers leaning towards taking classes that were in the basement rooms of the dorms I was in.

  14. Libturd in the City says:

    If you want to use UNLV as a precedent, I would be careful about sending your daughters to Stockton. Unless you approve of them working as escorts.

  15. Fast Eddie says:

    WASHINGTON (MarketWatch) — Layoffs are near a 15-year low and U.S. job openings are at a 13-year high, so why aren’t even more workers being hired?

    http://www.marketwatch.com/story/job-openings-are-on-the-rise-so-why-isnt-the-us-hiring-2014-11-12

  16. Anon E. Moose says:

    Lib [15];

    I’m not making a value judgment, only a business one. I doubt this will make Stockton anyplace that anyone would WANT to send their kids. It will, however, make it a place those kids want to go. Climbing walls are nice college amenities, hope many colleges have perpetual Spring Break (with seasonal considerations for weather) on their doorstep?

    You know what the biggest obstacle might turn out to be? Holding good faculty. I’ve heard many a horror story about faulty trying to live an normal suburban adult like in a college town like Penn State or Ohio State. At 40 with kids, the guy puking on your doorstep isn’t so funny.

    Was Stockton the college that was in the mix to buy the Revel?

  17. 30 year – I’ve mentioned this before, but I know that in Newark when crack-related crimes were getting out of control the solution was to go easy on heroin. A heroin addict doesn’t have to steal very much per day to feed his habit and after he hocks something for $25, he’s pretty quiet and domesticated for the rest of the day.

    Paterson is the epicenter of the heroin problem in the Northeast. Perhaps the city would have a stronger chance for economic recovery if they eradicated the heroin problem rather than worrying about vacant houses.

  18. Pete says:

    If UNLV is a precedent that also means if NJ sports gambling ever gets going, I won’t be able to lay money on the Stockton Ospreys. Now I’m opposed.

  19. Those are just temporary jobs. They’ll all be gone once they get all the bugs fixed in self-serve fast food.

    WASHINGTON (MarketWatch) — Layoffs are near a 15-year low and U.S. job openings are at a 13-year high, so why aren’t even more workers being hired?

  20. Fast Eddie says:

    ExPat,

    It’s an interesting article but even more so, the comments (sans the trolling) offer some food for thought. I think even the more skilled jobs are considered disposable or replaceable.

  21. [14] Pete – heh, heh. River Dorms.

    Actually it seems like it could work out to be convenient to students. The rooms are now dorm rooms, meeting rooms are classrooms, restaurants could be dining areas, floor area could make a nice libarary. I remember my days at Rutgers leaning towards taking classes that were in the basement rooms of the dorms I was in.

  22. Hughesrep says:

    17

    Lots of nice suburbs for the profs around Ohio State.

    It’s been a while since I lived there, but the north side with Dublin, Worthington etc is about as Midwestern suburban as it gets. Maybe a twenty minute ride to campus. Closer yet is german village, even the short north is gentrified now from what my brother tells me.

    Penn State is in the middle of nowhere.

  23. Pete says:

    #23,

    Yup. Hmm take the class where I can just drag my hungover self out of bed and go straight downstairs or wait for a C or A or EE bus or whatever it was to lug me over to Livingston. Choice was easy.

  24. jj says:

    Hotel Management as well as Hos Don’t Tell Management both will be majors.

  25. [22] FE – I never thought of this. Makes sense.

    “Those are JIC (‘just in case’) job postings. If the economy rebounds sharply companies can hire more quickly and cheaply with a known inventory of resumes and qualified candidates. Most companies have huge inventories of digitized resumes indexed with various skills with no intention of hiring them. Phony job postings are a way of attracting a job pool at low cost. There are vast digital garbage dumps of unused, unread job resumes with the candidate having no hope of being hired….”

    ExPat,

    It’s an interesting article but even more so, the comments (sans the trolling) offer some food for thought. I think even the more skilled jobs are considered disposable or replaceable.

  26. chicagofinance says:

    From two days ago…..

    Opinion

    The Department of the Internet

    Obama lobbies the FCC to regulate the Web as if it were telephone service in the 1930s.

    Get ready for the Department of Broadband. On Monday, President Obama called on the Federal Communications Commission to reclassify the Internet as a public utility—like water or electricity—under Title II of the Communications Act of 1934. The goal: “to protect net neutrality,” Mr. Obama said in a White House YouTube video, an ironic venue for announcing a monumentally bad idea that could strangle the Internet.

    For years the FCC has been inching toward imposing net-neutrality rules, which are sold as a way to ban Internet service providers from discriminating against content providers. In reality such rules would dictate what ISPs like Comcast and Verizon can charge for their services. The Silicon Valley crowd particularly likes the net-neut idea, because it would mean cheaper access for companies like Google and Netflix, who are heavy bandwidth users. President Obama’s announcement is likely to delight them—and liberal groups supporting supposed Internet “fairness”—because now FCC Chairman Tom Wheeler will be under enormous pressure to do the White House’s bidding.

    But the Internet cannot function as a public utility. First, public utilities don’t serve the public; they serve themselves, usually by maneuvering through Byzantine regulations that they helped craft. Utilities are about tariffs, rate bases, price caps and other chokeholds that kill real price discovery and almost guarantee the misallocation of resources. I would know; I used to work for AT&T in the early 1980s when it was a phone utility. Its past may offer a glimpse of the broadband future. Innovation gets strangled.

    Bell Laboratories—owned by AT&T—invented the transistor in 1947, the basic building block of today’s telecommunications and computing. But AT&T was one of the last businesses to use the innovation. Why? Because the company had a 10-year supply of the old technology—vacuum tubes—and waited until they ran out before converting to using AT&T’s own invention.

    It was much the same with touch-tone dialing, which was invented in 1941 but not rolled out until the 1970s. Though touch-tone was easier to use than rotary-dial phones, and cheaper, AT&T charged $10 a month extra for the service—because the company could. Bell Labs funded a study to decide the size, color and coding of the touch-tone buttons. The study’s director received a report with hundreds of ideas but didn’t like any of them. Instead, he insisted on gray buttons, and just 12 of them.

    More utility follies? The first cellphone call was made in St. Louis in 1946 with AT&T’s Mobile Telephone Service, but the company let the innovation wither. It took until 1983 for Motorola to introduce the now comically unwieldy DynaTAC, a cellphone that weighed more than 2 pounds—but that private-sector effort is what ultimately led to today’s 4-ounce iPhone.

    Oh, and data. I worked in a group at Bell Labs that developed the early 300 and 1200 bit-per-second modems. We wanted to test them by sending data from our Western Electric factory in Illinois to our site in New Jersey. But no luck, because Illinois Bell hadn’t set tariffs for data. We had the technology, but regulators lagged far behind.

    A boss at Bell Labs in those days explained what he called the Big Lie, using water utilities as an example. Delivering water involves mostly fixed costs. So every decade or so, water companies engineer a shortage. Less water over the same infrastructure meant that they needed to raise rates per gallon to generate returns. When the shortage ends, they spend the extra money coming in on fancy facilities, thus locking in the higher rates for another decade.

    If the Internet is reclassified as a utility, online innovation will slow to the same glacial pace that beset AT&T and other utilities, with all the same bad incentives. Research will focus on ways to bill you—as wireless companies do with calling and data plans—rather than new services. Imagine if Uber had to petition the FCC to ask for your location.

    The president’s statement Monday was not the first time he has promoted net neutrality, just the most emphatic. At an Oct. 9 town-hall meeting in Los Angeles, he said: “I made a commitment very early on that I am unequivocally committed to net neutrality. I think . . . it’s what has unleashed the power of the Internet, and we don’t want to lose that or clog up the pipes.” Then he, however awkwardly, implored the FCC to act: “My appointee, Tom Wheeler, knows my position. Now that he’s there, I can’t just call him up and tell him exactly what to do. But what I’ve been clear about, what the White House has been clear about, is that we expect whatever final rules to emerge to make sure that we’re not creating two or three or four tiers of Internet.”

    Maybe Mr. Wheeler didn’t get the message last month and the White House thought he needed some public hectoring. Or maybe he has been only sidling up to the idea because he knows deep down that network neutrality is a fuzzy concept that can’t possibly exist in nature. Comcast might want to charge Netflix customers $5 a month for a fast lane, but if Google Fiber is in town and offers Netflix with no extra charges, that’s what customers will choose.

    The beauty of competition is that you get network neutrality for free. AT&T cut long-distance rates in the 1980s when MCI and Sprint started competing fiercely. Calling from San Francisco to New York became cheaper than calling from San Francisco to San Jose, because California tariff prices were still highly regulated. The same thing happened to international rates once Skype offered voice and video connections free online. And it is no surprise that AT&T hurried to offer its own gigabit Internet connection in Austin, Texas, as soon as Google Fiber showed up. Now everyone in Austin has access to a fast lane.

    And the rest of us? “At 25 Mbps, there is simply no competitive choice for most Americans,” Mr. Wheeler said in a September speech. Treating the Internet like a utility would ensure things stay that way.

    The president might think he’s doing a favor for Americans, but utilities are utopias only on paper. With no competition to stimulate investment, capabilities will wither. Eventually a federal bureaucracy will be needed to help allocate the scarce broadband resources. In that vaguely neutral world, everybody gets access to the same resources. Well, except for the government—it of course will need special, superfast access. You want cheap, ubiquitous and naturally neutral broadband? Promote competition and outlaw utilities.

    Mr. Kessler, a former hedge-fund manager, is the author, most recently, of “Eat People” (Portfolio, 2011).

  27. chicagofinance says:

    AT&T also invented the callable bond…..and I used one of those calls in the late 1990’s…..

  28. chicagofinance says:

    Business World

    Washington Can’t Stop Itself

    President Obama faces an emergency: How to keep net neutrality alive as a political issue despite its lack of salience in the real world.

    Tom Wheeler, chairman of the Federal Communications Commission, got his marching orders Monday, via YouTube, when President Obama called for the Internet to be reclassified as a public utility.

    Never mind that the FCC is nominally an independent agency or that doing what the president asks involves throwing out long-standing precedent.

    Never mind that this approach would solve no known problem, not even the nonproblem of net neutrality. As Robert Litan of Brookings puts it: “Even if the FCC agrees to impose the price, non-discrimination, and other forms of common carrier regulation on ISPs, Title II reclassification would not necessarily ban paid prioritization.”

    Broadband is among the most popular, fast-growing, profitable products any business sells. Why would companies that sell it provoke fights with customers and regulators by behaving in ways that deprive customers of what is by now everyone’s clear and settled expectations of how the product should behave?

    They wouldn’t. Ludicrously phrased was a New York Times report on Monday that commended Mr. Obama for putting the “full weight of his administration behind an open and free Internet, calling for a strict policy of so-called net neutrality and formally opposing deals in which content providers like Netflix would pay huge sums to broadband companies for faster access to their customers.”

    What Netflix paid to Comcast was a fraction of the cost Netflix avoided when it stopped delivering its service through a third-party carrier in favor of a direct connection to Comcast.

    That’s all that happened in this misconstrued episode, the routine distortion of which has become a sad commentary on the intelligence and intellectual honesty of the media.

    So why is Mr. Obama promoting strict regulation? Because liberal mau-mau groups like regulation. It’s that simple: If government controls business and they control government—well, you get the idea.

    The needs of the liberal machine are being met, the full-time retinue of fixers, lobbyists and activists who extract rents by controlling things.

    You have our solemn assurance that Mr. Obama doesn’t know any more about net neutrality than slogans he could have picked up listening to Jon Stewart . Oh, and that it polls well with his “base.” This is not policy making: He has no idea what incentives guide the behavior of broadband carriers, or how regulation might affect the ability of intelligent networks to deliver a growing and potentially infinite variety of services in the future over a common digital network.

    Mr. Obama’s role is to attach windy rhetoric to the visionless outcomes of the visionless apparatchiks who people the policy process. They do the rest.

    If this strikes you as unduly cynical, sorry. This is liberalism that meets no challenge, fixes no problem. The causal oomph that drives the process is the benefits that flow to those directly involved. Congressmen can’t extract donations from the auto industry or telecom industry or health insurers if costly, consequential rules affecting those industries aren’t being drafted.

    Bureaucracies can’t expand. “Public interest” groups that align themselves with Democrats can’t collect scalps and orchestrate episodes in which businesses and politicians are taught to fear their power.

    How else is the system supposed to work? Voters who tell pollsters they want an open Internet, affordable health care, higher-mileage vehicles, etc., etc. don’t stick around to see how their preferences are converted into rational means and ends.

    The only feedback voters render is at the polling booth, when they issue a general verdict on how the country is being run. And Mr. Obama has made it clear his exercise of executive power will be immune to such feedback. And why shouldn’t it be? Democrats are building a permanent establishment.

    True, when it comes to net neutrality, Mr. Obama’s intervention is likely only to prolong and deepen a stalemate that has dragged on for a decade (during which the Internet, by the way, has flourished). But even this outcome suits the machine, since the machine is really interested in process—endless, high-stakes process that swells Washington’s ranks of lawyers and lobbyists.

    Which brings us to a priceless quote from Chuck Todd ’s new Obama biography: “Nothing irks Mr. Obama more than the idea that he’s somehow a leftist or liberal.”

    Whatever “liberal” used to mean, it now means a self-interested machine of influence peddling and rent extraction. Well do we recall Cass Sunstein, Mr. Obama’s colleague at the University of Chicago, saying President Obama would surprise the world by being a “smart” regulator. What a bunch of hooey that turned out to be. Meanwhile Americans are undoubtedly tired of hearing how Washington has become America’s richest, most recession-proof area code. Net neutrality is one more example of how it got that way.

  29. jj says:

    I miss Step Up Bonds

    chicagofinance says:

    November 13, 2014 at 1:00 pm

    AT&T also invented the callable bond…..and I used one of those calls in the late 1990′s…..

  30. Michael says:

    “Today if your kid wants to go to college or become a plumber, you’ve got to think long and hard,” said Bloomberg Monday at the annual meeting of Wall Street trade group SIFMA.
    “If he’s not going to go to a great school and he’s not super smart academically, but is smart in terms of dealing with people and that sort of thing, being a plumber is a great job because you have pricing power, you have an enormous skill set,” he said.

    “Today many people in our society do not believe any longer that if you work hard, you go to school, you get a scholarship and you can get to the top,” Rubeinstein said. “The idea that social mobility is gone, that is a big problem and a residue of the great recession.”

    http://money.cnn.com/2014/11/11/investing/michael-bloomberg-advice-become-a-plumber/

  31. Michael says:

    32-
    ForTheGlory17 hours ago
    Unfortunately for Bloomberg and the next generation, this is not viable either as the trades are apparently being in-sourced. Neither the plumber, the electricians, nor the carpenters hired by my contractor to remodel my kitchen and bathroom could speak one word of English.

    4USAjobs1st16 hours ago
    @ForTheGlory

    That’s what’s really happening in America.

    Regardless of what the free-traitors are still trying to sell us, the American people can see what’s real. The American People need to trust their own instincts and what they’ve been seeing going on all around them for the last 30-years rather than buying into the continued nonsense from the free-Traitors.

  32. Libturd in the City says:

    Speaking of plumbing. Back in October, before the heating season kicked in, I brought out a plumber to replace a pipe on my furnace that was at the bottom of my Hartford Loop. Of course it was really stubborn and required lots of sawing. He replaced a valve as well. 3 hours, $99 parts. $500 labor. And left a mess to boot.

  33. painhrtz - whatever says:

    Lib had a woman who I used to work with who went to UNLV and can totally confirm that the sororities are recruiting agencies for escort services.

    As far as stockton goes they already own seaview resort which is cheap golf for alumni, having a casi no and hospitality program in place which was a feeder for the local gaming industry so it will fit well as a laboratory. I’m sure it is going to just be a jobs program for some alumni.

    I am almost certain they will not be paying taxes but who knows. Can’t imagine the comps would be very good unless you get a coed of your choice with 1000 dollar play.

  34. Anon E. Moose says:

    Michael [32];

    “The society which scorns excellence in plumbing as a humble activity and tolerates shoddiness in philosophy because it is an exalted activity will have neither good plumbing nor good philosophy: neither its pipes nor its theories will hold water.” – John W. Gardner

  35. grim says:

    I know more millionaire plumbers than I know millionaire programmers, engineers, lawyers, doctors, etc….

  36. All Hype says:

    “Lib had a woman who I used to work with who went to UNLV and can totally confirm that the sororities are recruiting agencies for escort services.”

    They also worked at Olympic Gardens, were front end X and Special K dealers and used to sleep with the nerd pharmacists to get access to oxy.

    The pahrmacy where she worked in Vegas was the #1 dispenser of Valtrex in the entire world. Let that sink in for a minute.

  37. painhrtz - whatever says:

    Hype vegas is a dirty place lets never go there

  38. Liquor Luge says:

    pain (8)-

    At least your classrooms weren’t in the goddam Showboat.

    “Stockton was a weird place to go to school”

  39. Liquor Luge says:

    My niece got a combo dentistry degree and MBA at UNLV. I hooked her up with a long-term rental in a failed luxury carriage home complex where there were only like 8 occupants and 300 vacant units. She got 2-car garage, basement, pool, amenities for $700/month. Said it got a little creepy at night sometimes.

  40. Libturd in the City says:

    Speaking of Lost Wages, I’m going out there twice in December. Olympic Gardens. I know it well.

  41. painhrtz - whatever says:

    No clot they were in the bowels of the oldest building on campus or out at the marine field station.
    They finished the new science building my senior year just in time to have one class in it. Heard that has been recently been replaced with an even newer science building (f*cking colleges).

    I’m sure the showboat would have been an improvement over some of my classrooms at the time. Especially would have improved my commute from Brigantine.

    Stockton in the 90’s was a lot like a large high school. Crowded hallways, bells, cliques it really was a f*cked up institution

  42. All Hype says:

    “Olympic Gardens. I know it well.”

    Proud to be the world’s largest gentleman’s club. I wonder if jj has his own private champagne room.

  43. Libturd in the City says:

    Honestly,

    Nothing compares to the raw raunchiness of Franks Chicken House back in the day. I don’t go to strip clubs often, but whenever we do, we always buy our buddies the lap dances from the ugliest girls. Once I bought a lapper for my 350 pound limp wristed cripple of a friend from a coked out seriously pregnant dancer that had to be close to full-term. He had to pay her to stop dancing. Of course we paid more to get her to do it all over again.

  44. homeboken says:

    45 – I remember attending Franks at least a dozen times senior year as we made the trek each time a buddy turned 18. What an absolute disgrace that place was. The SOP was for the “entertainer” to wobble over to you and drop what looked like a filthy bar rag to reveal the goods. A dollar and she was on her way. I do not recall any “dancing” but then again I was 18 and on hormone overload.

  45. Liquor Luge says:

    pain (43)-

    Hell, who else would have you? :)

    “Stockton in the 90′s was a lot like a large high school. Crowded hallways, bells, cliques it really was a f*cked up institution”

  46. Liquor Luge says:

    Frank’s Chicken House is a crime against humanity.

  47. Liquor Luge says:

    I never entered that place in a state in which I could remember anything that happened the next day.

    Thank God.

  48. Libturd in the City says:

    “Frank’s Chicken House is a crime against humanity.”

    It really was. I saw Marilyn Chambers make a beer bottle pulse there once. I forgot who did the ping ball show, but there were at least 6 balls in each holder.

  49. Libturd in the City says:

    Sadly, the chicken was actually pretty good.

  50. painhrtz - whatever says:

    haha funny enough I chose Stockton after Cook wanted to f*ck me out of transfer credits and I was too much of a stoner to worry about keeping up a partial scholarship at two private colleges that would have cost the same as party in the pines. Scholarships included. 20 years past, looking back would not have it any other way loved my time there.

    Franks chicken house you needed a bleach bath after leaving that joint

  51. painhrtz - whatever says:

    Pol pot would have been appalled by the conditions at Frank’s

    Lib I am absolutely convinced you, grim and I probably crossed paths dozens of times in the 90’s

    Now if you wanted high class after coming from Frank’s you would head to the hitching post

  52. Xolepa says:

    Damn, I can’t remember the name, but in P’Burg next to the free bridge was this gogo bar that just charged you an entrance fee – $20 before it closed. You brought in all the booze you and your buddies could drink. I never ever wanted to go near that place. Too many bad things happened there.

  53. Michael says:

    My brother went to college and decided it was not for him. He had a good gpa, just decided he did not want to sit at a desk all day. So I told him you have to either get a plumbing or electrical license. Went the plumber route and got his license at a young age. He now owns his own plumbing business.

    grim says:
    November 13, 2014 at 2:17 pm
    I know more millionaire plumbers than I know millionaire programmers, engineers, lawyers, doctors, etc….

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  55. chicagofinance says:

    This post sounds like a Dos Equis commercial….

    Libturd in the City says:
    November 13, 2014 at 3:30 pm
    I don’t go to strip clubs often, but whenever we do, we always buy our buddies the lap dances from the ugliest girls.

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  57. Libturd at home says:

    Thanks.

  58. Libturd at home says:

    Some would argue that the ugliest girls need the money the most.

  59. sam says:

    Guys, a long term reader of the blog. Anyhow, thought I will ask for some local Home Inspection recommendation for a home purchase in Essex County. I could use the home inspector recommended by the realtor but would really like to find a good home inspector that people here have good experience with. thanks!
    Sam

  60. George says:

    Sam,
    Thank me later…

    Nigel Turner
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    Phone: 201 406 5213

  61. NJT/BLVD says:

    In Mod! For what!?.

  62. NJT/BLVD says:

    Everything was better in the 80s.

  63. Liquor Luge says:

    Sam, you’re interrupting our discussion of str!ppers and lowlife t!tty bars.

    Real estate is sooo 2005…

  64. Juice Box says:

    I knew Buddy before he was famous. His mother in law was my landlord.
    Gotta laugh at this one.

    http://www.nj.com/hudson/index.ssf/2014/11/buddy_valastro_to_cops_you_cant_arrest_me_im_the_cake_boss_authorities_say.html#incart_river

  65. Liquor Luge says:

    His cannolis are a bigger crime than any DUI.

  66. Juice Box says:

    Yeah the factory off Grove in JC by the Holland Tunnel cranks out those cannoli like no tommorrow for the tourists. Who else would drive a yellow Corvette drunk in NYC but a goomba?

  67. Juice Box says:

    NJT – site in on autopilot while Grim cooks his shine.

  68. NJT/BLVD says:

    #54

    It went by the name ‘Boxcar’ (is this going to be ‘moderated’ too?).

    Now it’s just a liquor store (can I type that here?).

    I mourn its passing every time while crossing into the new Peoples Republic of PA.

  69. Michael says:

    The next Economic Development Council Meeting is Wednesday – a “must attend” meeting.

    Here’s why.

    At the Council Meeting last Wednesday, the representative of Hartz Mountain, high density housing developers, pitched a high density plan for Wayne. He had all his high density supporters there pushing him on. He also pitched the Council that this is the “only plan available” . No other options are available and must be acted on now before Wayne dies. He also pitched the Council for money to further his cause.

    Councilman Jiminez, Council Representative to the Economic Development Council (EDC), advises that this pitchman is on the EDC. The EDC was “word-smithing” the document he used at the last EDC meeting — but no copies of the document have been made available to we the taxpayers.

    WE MUST GET TO THE BOTTOM OF THIS AT THE NEXT EDC MEETING! — This coming Wednesday, 8:30 AM (MORNING), November 12 in the Mayor’s Conference Room, 475 Valley Road, Wayne

    Salvatore Gentile, Senior Vice President for The Hartz Mountain, a high-density developer is also on the Wayne Economic Development Commission and is now promoting his plan from the inside.

    In the EDC meeting this morning, Gentile was pushing to get budget from the Council to promote his plan. There were about 10 from the public there. Remember that Gentile was the one that pitched his high density plan for Wayne. He had all his high density supporters there pushing him on. He also pitched the Council that this is the “only plan available” . No other options are available and must be acted on now before Wayne dies. He also pitched the Council for money to further his cause. Now he is leveraging his “insider” position on the EDC to further his cause.

    Sal Gentile, Sr. VP at Hartz Mountain Industries, Inc., one of the largest private real estate high density developers in the US will be pitching high density for Wayne at the Wayne Republican Club meeting, Tuesday November 18th in the Perzanowski Meeting Room at the Wayne Public Library on Valley Rd. He is also member of the township’s Economic Development Commission.

    This will be the 3rd time he has given his pitch, the first two were at the Wayne Council meeting November 5 and at the Economic Development Commission meeting yesterday.

    You will recall that at the Council Meeting, Mr. Gentile gave the Hartz Mountain, high density pitch. He had all his high density supporters there pushing him on. He also pitched the Council that this is the “only plan available” . No other options are available and must be acted on now before Wayne dies. He also pitched the Council for money to further his cause. At the EDC meeting yesterday, he pitched to the commission members for support to get money to hire PR firm and push his agenda.

    The is NOT a partisan issue – all taxpayers, Independents, Democrats and Republicans will be affected alike. So the Wayne Republican Club meeting is an excellent opportunity to express your views. Everyone is welcome to do so and encouraged to attend. He must be stopped which can only happen with your support

  70. Juice Box says:

    re: NJT – BOX?

    mod words are an simple filter. Use the dictionary if not sure.

    http://www.urbandictionary.com/define.php?term=box

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