2015 – Will the big foreclosure clean out begin?

From the Philly Inquirer:

Foreclosures down nationwide, still increasing in Phila. region

Foreclosure filings nationwide last year fell to their lowest level since 2006 and were down by more than a million properties from 2010’s recession-aftermath peak of roughly 2.87 million.

RealtyTrac, an Irvine, Calif., housing data and analytics provider that tracks filings across the United States, reported Thursday that last year’s 1,117,426 total filings, while down considerably from that peak, still represented an increase of 400,000 since the housing boom of the last decade began to go bust.

The company has said it considers the 500,000 foreclosure filings in 2005 a normal year. A single property may be represented by several filings as the financial and legal aspects of a foreclosure are worked out.

Despite the national decline in filings in 2014, portions of the housing market in the eight-county Philadelphia region are still mired in foreclosures, short sales, and bank repossessions, the RealtyTrac data show.

According to RealtyTrac, “The list of states with increased activity in the last months of 2014 includes those with judicial foreclosure backlogs, such as Massachusetts, New Jersey, Pennsylvania, and New York.”

Such backlogs mean that in New Jersey and Pennsylvania, the foreclosure process often takes three years or more. Many mortgage lenders deferred pursuing foreclosures because of the backlogs, and the 2014 increase reflected attempts to catch up.

Last year, New Jersey had the second-highest increase nationally in filings, RealtyTrac said, and was No. 2 among the 50 states in number of filings.

The number of bank-owned repossessions – houses that went all the way through New Jersey’s lengthy foreclosure process – rose 34 percent statewide, to 5,780, over 2013’s level, the RealtyTrac report said. Camden, Burlington, and Gloucester Counties accounted for about 18 percent of 2014 filings statewide.

Nunnenkamp added that “there are still numerous abandoned homes that have not come to the market yet, which could increase the percentage.”

These are “zombie houses” – more than 6,100 in the eight-county region – vacated by borrowers at the start of never-completed foreclosure proceedings.

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

65 Responses to 2015 – Will the big foreclosure clean out begin?

  1. Comrade Nom Deplume, Guardian of the Realm says:

    Frist.

  2. Comrade Nom Deplume, who needs to stop screwing around and get back to work says:

    [2] fabian

    I seem to recall that IZOD was supposed to have been closed long ago. The Rock was supposed to have spelled the death knell for it.

  3. jj says:

    So there is zero inflation yet home prices are rising.

  4. nwnj says:

    #2

    Only in NJ do you need a “deal” to close a place. If it’s making money keep it open, if it’s not then close it.

    Of course what it’s really about is preserving the viability of the prudential center, which I’m sure would slowly slip as people recognize it’s location in an urban hellhole.

  5. grim says:

    Tear it down, we need room for the casino anyway.

  6. chicagofinance says:

    “I left finance because if I’m going to take it up the ass for a decade, I’d prefer to get in to a hall of fame for it.”

    A female intern at a blue-chip financial firm won’t be pumping stocks any more after reportedly quitting her stuffy Wall Street gig to become a p0rn star.

    Paige A. Jennings, who moonlights under the stage name Veronica Vain, dropped her internship at Lazard Asset Management last week after her n^de selfies taken in the bathroom of the firm’s Manhattan offices were discovered online, according to Business Insider.

    “I just left a job on Wall Street for a p0rn career because I can’t stop masturbat!ng at work,” Jennings, 23, wrote on Twitter Wednesday.

    Jennings had been a part-time intern in the company’s alternative-investments marketing group since last June, Business Insider said.

    But after her co-workers discovered the n^de bathroom photos posted on her Veronica Vain Twitter account, she soon decided to seek other employment.

    “It was a little awkward,” Jennings told the website BroBible.com about meeting with her boss after the pics went public. “However, he obviously couldn’t have me coming back to the office when likely just about everyone had seen me half-naked online.”

    Jennings, a recent college grad, previously worked as a str!pper but didn’t see it as “a viable career path.”

    She also said she would like to start a venture-capital fund centered around the adult film industry.

    Jennings — who did not return requests for comment — added that she would like to appear as a contestant on the new X-rated Internet reality show “The Sex Factor.”

    The p0rn competition, set in Las Vegas, is scheduled to be hosted by Duke University p0rn star Belle Knox.

    Sydney Leathers, who went into p0rn after being Anthony Weiner’s s^xting pal, said Jennings’ career move could be a bad decision.

    “I mean, she’s a babe, but realistically, p0rn is rarely a great choice for anyone,” Leathers told The Post. “I don’t regret it, but some people do.”

  7. FKA 2010 Buyer says:

    This is an interesting story. Ocwen was one of the few servicers that survived the 2008 debacle.

    Barclays: California situation could destroy Ocwen

    Now that Ocwen Financial (OCN) is facing serious regulatory pressure from the state of California, which said this week that it was seeking to suspend Ocwen’s mortgage license because the company failed to turn over documentation showing that it complies with the state’s laws, analysts are questioning if this is the beginning of the end for the troubled nonbank.

    In a note to clients, Barclays analysts Jasraj Vaidya, Dennis Lee and Harkaran Talwar suggest that Ocwen may be facing a New York-esque problem in California and that a negative outcome for Ocwen in California could be too much for the company to recover from.

    http://www.housingwire.com/articles/32607-barclays-california-situation-could-destroy-ocwen

  8. Juice Box says:

    Izod Center brings back memories…My first concert was at the Brendan Byrne Arena was Van Halen. The year was 1982…me my brother and friends waited in line for tickets at the local music store, back when you had to get wristbands and wait in line for a few hours.

    We were dropped off and had no idea that there was a massive tailgate party going on, Alcohol, drugs and rock and roll. We wandered the parking lot in amazement before heading in for the greatest show of our young lives.

    Found the Set list for that show.

    Romeo Delight
    Unchained
    Drum Solo
    The Full Bug
    Runnin’ With the Devil
    Jamie’s Cryin’
    Little Guitars
    Where Have All the Good Times Gone
    (The Kinks cover)
    Bass Solo
    Hang ‘Em High
    Cathedral
    Secrets
    Everybody Wants Some!!
    Dance the Night Away
    Somebody Get Me a Doctor
    I’m So Glad
    (Cream cover)
    Ice Cream Man
    (John Brim cover)
    Intruder
    Oh, Pretty Woman
    (Roy Orbison cover)
    Guitar Solo
    Ain’t Talkin’ ’bout Love
    Bottoms Up!
    Encore:
    You Really Got Me
    (The Kinks cover)
    Happy Trails
    (Roy Rogers cover)

  9. FKA 2010 Buyer says:

    Admittingly, I’m not smart enough to know what instituting a Negative Interest Rate will do but this doesn’t look good.
    ———————

    “It’s Carnage” – Swiss Franc Soars Most Ever After SNB Abandons EURCHF Floor; Macro Hedge Funds Crushed

    “As if millions of macro hedge funds suddenly cried out in terror and were suddenly silenced”

    http://www.zerohedge.com/news/2015-01-15/its-tsunami-swiss-franc-soars-most-ever-after-snb-abandons-eurchf-floor-macro-hedge-

  10. Libturd in Union says:

    I spent an awful lot of time there in the 80s as my parents had season tickets (cheap ones) to the NJ Devils for their first three seasons. Also saw my first concert there. Iron Maiden, Ozzy and Waisted.

  11. Xolepa says:

    Hated that place from day one. Getting there was a major pain. Couldn’t stomach the name of the arena, named after the idiot who signed off on the new state income tax.

  12. Anon E. Moose says:

    ChiFi [97, prev thread];

    Clot as sommelier of a white tablecloth joint? I am having visions of a NJRER GTG under those circumstances: http://youtu.be/JzzE6XLbC8M

  13. Toshisung Horiba says:

    These are the jobs moving TO New Jersey (you’ll have to read beyond the headline).

    Body Shop to move HQ to NYC

  14. chicagofinance says:

    This merger is the kind of job saving cap mkts transaction you want to see….cushy power utilities keep their corp HQ in Cape May……must be a killer….
    http://www.bizjournals.com/philadelphia/news/2015/01/15/exelon-pepco-merger-worth-6-8takes-one-big-step.html

  15. jcer says:

    Brendan Byrne was a dump when the devils first won the stanley cup and is a bigger dump now. We are talking about a 30 year old arena, it’s time for it to go any way…Pru Center is a nicer facility albeit in the middle of a war torn country.

  16. grim says:

    Disney On Ice was the only thing I ever heard going on at Izod, probably because moms were terrified of taking their little kids into Newark, but it looks like they moved that to Pru too.

  17. homeboken says:

    17 – I am venturing to the Bricks on Sunday for the Disney on Ice show. Will report back with what my 3 year old learned on his first PATH ride.

  18. jcer says:

    This swiss thing is big news…this to me is a sign that the prudent bankers of Switzerland think the euro is going to explode and there will be blood on the streets of Europe. It seems to me that they plan to take all of the money from the rich Europeans make money off of it with the negative interest rates and Swiss corporations and citizens will buy up the productive assets across the eurozone at cents on the dollar using interest free money. Screw exports of little trinkets and watches or tourism(which lets be honest even with the peg it has to be hurting Switzerland was really expensive when I was their 2 years ago only the swiss and massively wealthy are vacationing there, we saw tons of swiss number plates in Vorarlberg, same language, culture and mountains but priced in euros ), they intend to own the productive capacity of Europe. This is big they are expecting something serious to happen, it’s almost like they see the dissolution of the euro as a distinct possibility and in that scenario their export market and tourism industries are sunk anyways.

  19. The Great Pumpkin says:

    Very good point!!

    jcer says:
    January 15, 2015 at 12:30 pm
    This swiss thing is big news…this to me is a sign that the prudent bankers of Switzerland think the euro is going to explode and there will be blood on the streets of Europe. It seems to me that they plan to take all of the money from the rich Europeans make money off of it with the negative interest rates and Swiss corporations and citizens will buy up the productive assets across the eurozone at cents on the dollar using interest free money. Screw exports of little trinkets and watches or tourism(which lets be honest even with the peg it has to be hurting Switzerland was really expensive when I was their 2 years ago only the swiss and massively wealthy are vacationing there, we saw tons of swiss number plates in Vorarlberg, same language, culture and mountains but priced in euros ), they intend to own the productive capacity of Europe. This is big they are expecting something serious to happen, it’s almost like they see the dissolution of the euro as a distinct possibility and in that scenario their export market and tourism industries are sunk anyways.

  20. chicagofinance says:

    Tales from the Office of the Medical Examiner (JJ Edition):
    “Because the body was so badly decomposed, close relatives were only able to identify the victim by her breast and hip implants.”

    Residents of a Mexico City apartment complex now know the cause of their foul-tasting drinking water.

    On Dec. 23, officials found the body of 27-year-old aspiring Mexican actress Carmen Yarira Esparza Noriega decomposing in the building’s water tank, reports Fox News Latino.

    Noriega had gone missing in February 2014 and her friend Javier Paz thought she might have been abducted.

    “She was a talented and beautiful woman who dreamed of being an actress,” Paz told The Daily Mail. “When she failed to turn up at the clinic where she worked, we all thought that she might have been kidnapped and sold off into the sex trafficking industry. But it seems that her body was back in her apartment block the whole time.”
    Because the body was so badly decomposed, close relatives were only able to identify the victim by her breast and hip implants.

    As for possible suspects, authorities are focusing on Noriega’s ex-boyfriend, who had been paying her rent.

    It is said that after the couple broke up, she began seeing a lawyer.
    Noriega went missing one week before she was set to vacate her apartment.

  21. JJ says:

    How long can you take it up the ass? And why would you want to be in the taking it up the ass hall of fame?

    chicagofinance says:
    January 15, 2015 at 9:20 am
    “I left finance because if I’m going to take it up the ass for a decade, I’d prefer to get in to a hall of fame for it.”

  22. jcer says:

    20, also I think they also might think that the negative interest rates make Switzerland as a safe haven less attractive, so people will start to take capital back out thus causing the exchange rate to normalize. Basically any way you look at it this is a good move for them, either they’ll make tons of money charging people to keep their money safe or the imbalance will fix itself without bleeding money trying to manipulate the currency markets. Basically if the Eurozone blows up the Swiss make a bundle, if it stabilizes the franc will fall against the euro restoring some balance. Any short term impact to tourism and exports is acceptable because as prudent as the Swiss are I am certain their companies aren’t all levered up and will weather the storm well.

  23. Fast Eddie says:

    Former Labor Secretary and current academic, activist, and commentator Robert Reich just wrote a blog post titled Why Wages Won’t Rise. He observes something that has been clear in every single Bureau of Labor Statistics monthly jobs report over the last few years: The growth in the number of jobs has largely been in low-wage positions.

    http://www.forbes.com/sites/eriksherman/2015/01/15/robert-reich-is-right-higher-wages-arent-coming-back-and-heres-why/

  24. grim says:

    The growth in the number of jobs has largely been in low-wage positions.

    Lots of discussion about this meme lately, some compelling arguments that it’s largely incorrect.

  25. Happy Renter says:

    I have no doubt that nominal wage inflation is coming (along with inflation generally). I don’t see the argument for real wages to rise in the U.S. on any large-scale.

  26. clotluva says:

    Global oil prices are down 50%. Switzerland is moving to negative interest rates. The EU is gearing up for QE. US mortgage rates are testing historic lows. Bond yields are imploding. These are all DEFLATIONARY signals. Perhaps the hope is that wage inflation will help stem the deflationary tide, but I just don’t see any fundamental basis for it.

    Where exactly is the competition for labor? Not in the financial sector. Not in the energy or mining sectors. Not in the construction or real estate sectors. Not in the legal or educational professions. Certainly not in the retail sector. I suppose everyone is rushing to hire experts in data ana.lytics, cyber-security, or the internet of things…but I wouldn’t pin the hope of the economy on a few shiny market niches.

    So, if by wage inflation people are talking 3-5% raises instead of 0-2% raises, and marginally larger bonuses than recent years (depending on the health of your industry sector), then I agree.

    If people are talking about an across-the-board growth in wages of 10-20%, then I disagree.

    And if people think that a 10% increase in wages for the bottom quintile of the US population is going to ignite across-the-board inflation in goods and services, then I disagree.

    Just my two cents.

  27. Juice Box says:

    re # 28 – re: “If people are talking about an across-the-board growth in wages of 10-20%, then I disagree. ”

    Last time even 10% across the board hourly wage increases was 35 years ago in 1980 and even then those raises did not outpace inflation.

    Headwinds of recession and deflation are forming. Does anyone hear a helicopter warming?

  28. Fast Eddie says:

    How do you combat deflation when rates are at 0%?

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

    To be fair, the Rock is close to what passes for a reasonably safe part of Newark. You can go from train to a block away inside office buildings, and the last block is an armed camp, there are so many cops. Also, I’ve been all over the area around the Rock and SH Law in the evening, and never had a problem.

    Newark may be the ‘hood but I’ll take the Ironbound and area around the Rock over JC any day.

  30. clotluva says:

    Eddie,

    Apparently, with negative interest rates.

    I hope punkinhead shares with us the wage increases his company has planned for its next 3 year budget cycle. Maybe we’ll all be able to trade on that information and make a killing.

    /s

  31. clotluva says:

    “Tennis Lessons $10 $15 per hour”

    BOOM! Wage inflation.

  32. Ragnar says:

    The price of appenzeller cheese will probably rise.
    Switzerland had negative interest rates for a short time in the 70s, a time during which the US had some pretty high inflation.
    It’s tough to forecast macro results, especially when government is leading the manipulations.
    Increases in volatility of asset prices do tend to shake out vulnerable entities.

  33. Essex says:

    My Swiss Miss just broke 100. Epic run…..

  34. The Great Pumpkin says:

    25- Thanks for the share. I just posted some quotes from the article that I have stated on a regular basis on this forum. What this author fails to realize is that the powers that be are finally realizing they have pushed too far, and if they stay on course, they will have created a deflationary spiral. This deflationary spiral is a natural fix of the inbalance in the system created by not paying the workers enough. It’s only natural that price seeks what a consumer could afford. If we do battle with a deflationary spiral, I don’t think the current economic model will survive. It will be a living hell. If it happens, I’m picking up clot, and going hunting for some politicians and ceo’s.

    “Increasingly, there are other options, as well. Companies can outsource, as Reich argues, although that’s often more a matter of avoiding environmental and safety regulations, because, for many businesses, labor is a small portion of the cost of their goods. A bigger issue is how industries have increasingly automated operations and services. When even the work of anesthesiologists can be automated, as Johnson & Johnson JNJ -1.45% has done with its Sedasys system, how can anyone expect any job to be secure? The combination of high education, high demand, and need to administer a service locally was supposed to be the sine qua non of professional security. But it doesn’t exist.

    Perhaps reality will sink in when CEOs realize that their jobs can also be sent overseas to thoroughly competent managers in a global marketplace who will cost the company less money. However, for now, the premium is still on reducing human costs and increasing profits, all the while falsely claiming that they can’t help it because there’s a legal mandate to maximize shareholder value. That is a myth, originally started by University of Chicago economists like Milton Friedman.”

    “Companies aren’t investing their capital and are even borrowing money — and keeping wages low and not hiring people for expansion — to push cash into stock buybacks. From 2003 to 2012, the 449 companies that were in the S&P 500 over the whole period put a combined 54 percent of their earnings into stock buybacks. Even shareholders are getting concerned because, without investment, companies are eating the seed corn, which is a rural colloquialism for the present consumption of that which is meant to ensure future prosperity.”

    “Why? CEOs are paid largely in stock and, Lazonick argues, buybacks increase share prices and, as a result, their own compensation. Corporate boards are part of the system because they typically are filled by executives who have their own compensation to consider. It’s an incestuous economic system combined with a sense of entitlement. Hence, a Jamie Dimon, CEO of JPMorgan Chase JPM -3.2%, will claim that banks are “under assault” by U.S. regulators. Forget that the entire economy was under assault by the banks, which brought the globe to its financial knees. “Why do we need regulation?” the executives wonder.

    We need it because maximizing the value of a few at the expense of the many is an untenable situation. But so long as executives are short-sighted and greedy — and while personally wealthy congressional representatives, with 18 times the net worth of an average American household, take no action — nothing will change. Income inequality seems here to stay for the long run.”

  35. The Great Pumpkin says:

    It will come. Give it some time. A couple years at least.

    “Where exactly is the competition for labor? Not in the financial sector. Not in the energy or mining sectors. Not in the construction or real estate sectors. Not in the legal or educational professions. Certainly not in the retail sector. I suppose everyone is rushing to hire experts in data ana.lytics, cyber-security, or the internet of things…but I wouldn’t pin the hope of the economy on a few shiny market niches.”

  36. The Great Pumpkin says:

    Wow, someone finally agrees. I stated a 5% avg in previous posts. 10-20% is not happening, unless inflation gets out of control. If you apply logic in your analysis of the problems in our economy, you cannot come away thinking that there is any other option besides fixing the inbalance in our economy by putting more money back in the consumer’s hands.

    “So, if by wage inflation people are talking 3-5% raises instead of 0-2% raises, and marginally larger bonuses than recent years (depending on the health of your industry sector), then I agree.

    If people are talking about an across-the-board growth in wages of 10-20%, then I disagree.

    And if people think that a 10% increase in wages for the bottom quintile of the US population is going to ignite across-the-board inflation in goods and services, then I disagree.”

  37. The Great Pumpkin says:

    I have heard from two different people that budget for their companies that they are increasing the budget for raises to 6% for this year.

    clotluva says:
    January 15, 2015 at 4:54 pm
    Eddie,

    Apparently, with negative interest rates.

    I hope punkinhead shares with us the wage increases his company has planned for its next 3 year budget cycle. Maybe we’ll all be able to trade on that information and make a killing.

  38. Fabius Maximus says:

    One for Eddie Ray. How come we don’t see your name in lights?

    http://www.ibtimes.com/irs-watchdog-says-taxpayers-devastating-tax-season-1784198

  39. The Great Pumpkin says:

    Another person starting to see what I’m saying. I have no doubt either. It doesn’t necessarily have to be true real wage growth. What matters is that people and govts make more money (not value wise) while their debts remained fixed. Remember, you just want to jumpstart the demand cycle to the point where businesses will invest in their future. Can’t stay the course where prices of almost everything has risen faster than wages. That’s when deflation comes in to correct the inbalance in the economic system.

    Happy Renter says:
    January 15, 2015 at 2:48 pm
    I have no doubt that nominal wage inflation is coming (along with inflation generally). I don’t see the argument for real wages to rise in the U.S. on any large-scale.

  40. Comrade Nom Deplume, sea level again says:

    [41] Fabian,

    Old news, old problem. Been beating this drum here and on Nina’s committee, and at the congressional liaison meetings I addressed from time to time. But no one is gonna champion IRS’ cause.

    On the plus side, I learned that one of my study group partners from NYU just left private practice for a senior position at IRS. Helps me at least.

  41. Comrade Nom Deplume, sea level again says:

    [42] Fabian

    Attacking garbage with irrelevance doesn’t impress me.

  42. Comrade Nom Deplume, sea level again says:

    Fabian,

    Fair’s fair. Here’s some red meat for you.

    http://www.itep.org/whopays/full_report.php

    Let me know what you think

  43. The Great Pumpkin says:

    Just wanted to re-post this on its own. Think it’s a powerful message. “We do not want to maximize the value of a few at the expense of the many”. It’s as simple as that. Nothing efficient about all the gains going to the few.

    “Why? CEOs are paid largely in stock and, Lazonick argues, buybacks increase share prices and, as a result, their own compensation. Corporate boards are part of the system because they typically are filled by executives who have their own compensation to consider. It’s an incestuous economic system combined with a sense of entitlement. Hence, a Jamie Dimon, CEO of JPMorgan Chase JPM -3.2%, will claim that banks are “under assault” by U.S. regulators. Forget that the entire economy was under assault by the banks, which brought the globe to its financial knees. “Why do we need regulation?” the executives wonder.

    We need it because maximizing the value of a few at the expense of the many is an untenable situation. But so long as executives are short-sighted and greedy — and while personally wealthy congressional representatives, with 18 times the net worth of an average American household, take no action — nothing will change. Income inequality seems here to stay for the long run.”

  44. The Great Pumpkin says:

    Not my words. Some debate about some female rapper( Déj loaf).

    “Commit Crimes, brag about committing crimes, hold those who commit crimes in high esteem, committing crimes is a badge of honor, leach off the system, kill each other, brag about killing each other…………..But then wonder why cops come in their neighborhoods, wonder why there are higher incidents of Cops killing black people, scream racism when somebody of a different color kills them but brags when they kill each other, give up a productive career in nursing to rap about killing other black people and committing crimes (Dej Loaf), scream about oppression but never worked a day in the cotton fields or sat in at a lunch counter, or marched for equality……

    As a Black man from Mississippi, I just can’t understand this culture.”

  45. grim says:

    Je Suis Subprime

  46. Toxic Crayons says:

    Mr. Gluteus Maximus:

    http://www.nj.com/essex/index.ssf/2015/01/store_clerk_shoots_kills_robbery_suspect_in_newark.html#incart_river

    NEWARK — A clerk at a supermarket shot and killed one person who was attempting to rob the store Tuesday night, the Essex County Prosecutor’s Office said.

    Two people attempted to rob the Neighborhood Deli Supermarket at 48 Irvine Turner Blvd. shortly before 9 p.m. The second robber fled the scene on foot, according to an initial investigation by the prosecutor’s office.

    This story will be updated as more information becomes available.

    Fabius Maximus says:
    January 15, 2015 at 8:06 pm
    Some red meat for the Gun Nuts.

    http://www.politico.com/magazine/story/2015/01/defensive-gun-ownership-myth-114262.html#.VLhjZ_YtE-a

  47. Fabius Maximus says:

    #51 Toxic,

    My view is that the clerk goes to the big house.
    While he can claim self-defense, he has to explain the weapon.

  48. Fabius Maximus says:

    #46 Eddie Ray

    A serious view is:

    The source is credible. Unlike your dear Tax Foundation, while leaning slightly left, it isn’t bought and sold. Read the Executive Summary and agree with it contents. Downfall is that it is State Centric.
    Balance it off against the 47% at the federal Level and you can have a decent discussion.
    What is misses is things like, in a lot of the Southern states, property tax rules were set back in the Civil war so the only way to raise revenue is through Sales Tax.
    Also does not factor tax rates on Business.

    Overall I still maintain the view, that if you factor all tax, the US is regressive.

  49. joyce says:

    Based on a four sentence article, you assume he had the gun illegally? change your name to Sherlock.

    Fabius Maximus says:
    January 15, 2015 at 11:40 pm
    #51 Toxic,

    My view is that the clerk goes to the big house.
    While he can claim self-defense, he has to explain the weapon.

  50. Comrade Nom Deplume, sea level again says:

    [54] Fabian,

    A fluff piece. There is only one paragraph that piques my interest, when he theorizes whether her style could interfere with Kagans attempts to craft liberal jurisprudence, or to put it differently, she makes no pretense about giving weight to non-legal considerations in a “rule of emotion” versus rule of law construct whereas the traditional liberal jurisprudence is to try and pull the bedsheets of stare decis and statutory interpretation over enough to cover their positions. Of course, Kennedy was criticized for doing the same by injecting international law considerations in a matter that many felt was uncalled for.

  51. Comrade Nom Deplume, sea level again says:

    [47] punkin

    Buy backs are also not punished as dividends are through the tax code, making them attractive for two (additional) reasons. C corps can’t hold too much cash as there’s a punitive accumulated earnings tax for a corporation that holds too much of its profits. So they look to spend it. They can pay dividends but get no deductions and the recipient is taxed so that income is taxed 2x. But if they buy back shares, they avoid accumulated earnings tax and can distribute to shareholders in a tax advantaged way (unless the shares are short term).

  52. Comrade Nom Deplume, sea level again says:

    [55] Joyce

    It is presumptuous of him (not a surprise) but in this instance, it’s a pretty safe assumption.

  53. Toxic Crayons says:

    Mr Gluteus Maximis

    http://www.nj.com/essex/index.ssf/2015/01/no_charges_filed_against_newark_deli_owner_who_sho.html#incart_related_stories

    NEWARK — No charges have been filed against a city business owner who shot and killed an armed man trying to rob his deli Tuesday night, authorities said.

    According to Acting Essex County Prosecutor Carolyn Murray and Newark Police Director Eugene Venable, the unidentified owner had a permit for the gun he used to kill Mark Robinson inside the New Neighborhood Deli Supermarket on Irvine Turner Boulevard.

    Authorities say Robinson, 46, walked into the business at around 8:30 p.m. and pointed a gun at the owner, who quickly returned fire.

    Screen Shot 2015-01-14 at 3.25.36 PM.png
    Mark Robinson
    Essex County Correctional Facility

    Robinson was struck, and was rushed to University Hospital, where he was pronounced dead just after 10 p.m.

    Murray and Venable said the gun he used to try to rob the store was recovered from the scene.

    The incident was captured by a surveillance camera, though authorities declined to release the footage, citing an ongoing investigation by the prosecutor’s office’s Major Crimes and Homicide Task Force.

    According to judicial records, Robinson had a criminal record that included arrests for drugs, weapons and resisting arrest.

    A woman who answered the door at the owner’s Kearny home this afternoon said he was still resting after a long night spent with detectives from Newark and the prosecutor’s office.

    Ramon “Tony” Amonte, who has worked at the store for the last eight years, said he was working in the deli while the owner worked the front counter last night when he heard shots ring out.

    He rushed to the front, he said, and saw Robinson on the ground, while two other men fled on foot.

    Anthony Ambrose, chief of detectives for the Essex County Prosecutor’s Office, said detectives were still investigating whether anyone else was involved with the robbery attempt.

    Amonte said the owner had been running the business for over a decade, over which time he had been robbed on at least one other occasion. Despite the perils, however, he said neither he or the owner would be frightened to return to the job.

    “To make a life, you have to work,” he said. “Some people don’t want to work.”

    Dan Ivers may be reached at divers@njadvancemedia.com. Follow him on Twitter at @DanIversNJ. Find NJ.com on Facebook.

  54. Toxic Crayons says:

    Gee I’m surprised Nom. I thought you still believed in someone’s constitutional right to defend their life and property.

    No worries Gluteus, the store clerk will most certainly be whacked on his way to work by the rest of the deceased’ gang member friends as his (legal) weapon is probably in an evidence locker ant the state of NJ NEVER issues carry permits to civilians.

  55. Comrade Nom Deplume, Guardian of the Realm says:

    [60] toxic

    I do but I know the law and NJ when it comes to legal carry. Odds are that Zfabian is correct. For once.

  56. Fabius Maximus says:

    Toxic,

    So it has gone from a clerk to an owner, that does change it and I don’t have a problem with no charges. If it was a clerk and he grabs the owners gun, do you get the same result. Likewise if the clerk has his own gun, do you get the same result?

  57. Comrade Nom Deplume, Guardian of the Realm says:

    [59] toxic.

    Permit. Ok, Fabian was wrong and by extension, so am I. Serves me right for agreeing with him. Whenever that happens, we are both wrong

  58. Comrade Nom Deplume, who needs to stop screwing around and get back to work says:

    [62] fabian,

    “So it has gone from a clerk to an owner, that does change it and I don’t have a problem with no charges.”

    But you do have a problem with the owner having a gun in the first place.

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