From CNBC:
Millennials moving out of Mom and Dad’s place, study shows
If you have an adult child living at home, you could become an empty nester sooner than you thought.
The number of 18- to 34-year-olds living with parents last year edged down from 2016, according to new data from CoStar Group, a commercial real estate information company in New York.
Last year, 31.5 percent of that age cohort were living with Mom and Dad, down slightly from more than 32 percent in 2016. While still higher than the long-term average of under 28 percent, it’s a downward trend the firm expects to continue due to the strength of the job market and overall economy.
“There are more individuals in that age cohort who are employed,” said Michael Cohen, director of advisory services at CoStar. “We also should see some wage gains in that age range. … Both of those things help.”
Cohen said the tight labor market — overall unemployment is about 3.8 percent — has led to a higher rate of workforce participation among younger adults.
“That gives me some degree of confidence that we’ll see some more momentum … in [young adults] moving out of Mom’s place,” Cohen said.
Additionally, as young adults progress in their careers, their incomes should rise with those job advancements.
Millennials generally face financial challenges that their parents did not as young adults. On top of carrying most of the $1.5 trillion in student loan debt, their wages are lower than their parents’ earnings when they were in their 20s.
A 2017 study of Federal Reserve data by advocacy group Young Invincibles showed that millennials earned an average of $40,581 in 2013. That’s 20 percent less than the inflation-adjusted $50,910 earned by baby boomers in 1989.
As it stands, more than a third (35 percent) of U.S. workers are millennials (defined as those age 21 to 36 in 2017), making them the largest generation in the labor force, according to the Pew Research Center.
Maybe this would have been a better headline story.
From Bloomberg:
America’s Millennials Are Waking Up to a Grim Financial Future
Lately I’ve been losing track of how old everyone is. Friends, co-workers and family members are resisting middle age with vigorous exercise, careful diets and regular doctor visits. Even when 50-year-olds look like they’re 50, they often dress or party as if they’re still in their twenties.
Our capacity to fetishize youth never ceases to amaze. But while older Americans definitely want to look like younger folks, they certainly don’t want their finances. That’s because the wealth gap between generations keeps widening, and their children’s future is beginning to look ugly.
Just two years ago, the median American born in the 1980s—the cradle of millennials—had family wealth that was 34 percent below what earlier generations held at the same age, the Federal Reserve Bank of St. Louis reported last month. And all the data show it’s probably going to get worse.
As affluent baby boomers thank years of soaring markets for their paid-off mortgages and plump portfolios, millennials and the next cohort, Generation Z, are weighed down by student debt and stagnant wages. They can only contribute the bare minimum to their retirement plans and struggle to find affordable homes within commuting distance of their jobs.
Fristish.
This is not being discusses enough:
Wide swaths of the country are getting sicker and dying younger than just a few years ago, with a widening health gap between educated, affluent Americans and everyone else. Alcohol abuse and obesity, upticks in suicide and an epidemic of drug overdoses have all played a role in an ominous milestone: Year-over-year declines in American life expectancy while the rest of the world lives ever-longer.
discussed enough
Heading back to the airport in a bit from Makati, flying back through Seoul.
grim – do your children even recognize you?
Another example of liberal MSM news media completely deranged:
https://www.mediaite.com/tv/chyron-malfunction-abc-apologizes-for-graphic-declaring-manafort-pleaded-guilty-to-manslaughter/
I work from home when I don’t travel.
Trip before last my wife and daughter came and spent a week on South Beach with me. Two weeks back, wife was supposed to come with me to Paris for a week, but ran into scheduling issues. Next time I go to New Zealand they’ll come with me and we’ll stay an extra week. Also, next trip out to Philippines they’ll come and we’ll fly to Bali for a week or two.
It’s not so bad.
Grim,
Are you surprised that a 3rd world Country is more advance than most of the US Cities?
grim hope you are flying frontier
@FlyFrontier
Frontier prides itself on being a family airline and we will not knowingly allow our flights to be used to transport migrant children away from their families. At this time, we are not aware if Frontier has been used for this purpose.
Nice. Seems a little defensive though.
I work from home when I don’t travel.
Trip before last my wife and daughter came and spent a week on South Beach with me. Two weeks back, wife was supposed to come with me to Paris for a week, but ran into scheduling issues. Next time I go to New Zealand they’ll come with me and we’ll stay an extra week. Also, next trip out to Philippines they’ll come and we’ll fly to Bali for a week or two.
It’s not so bad.
…than most southern GOP run cities
yome says:
June 21, 2018 at 8:01 am
Grim,
Are you surprised that a 3rd world Country is more advance than most of the US Cities?
Thanks, for this post!
Chris from Germany Immobilienmakler Freiburg
When in the Philippines try one of the islands of Palawan. Lagen Island a private island owned by Ayala Corp. Best snorkeling in the middle of the Pacific. Untouched and great corals
https://www.youtube.com/watch?v=A2yzYd25u6w
Lagen Island El Nido Palawan
If your kids are raised and you have done right by them what’s wrong with partying like your in your twenties if you are in your fifties? Just saying.
Another Video
https://www.youtube.com/watch?v=A2S2DHqdBG4
We have sites in Puerto Princesa on Palawan, not very far from a number of beautiful islands.
Enjoy your stay
“Over and over again, our Republican friends tell us that we cannot possibly afford to join the rest of the industrialized world and guarantee health care as a right to every man, woman and child through a Medicare-for-All program.
We have been told that we cannot afford to make public colleges and universities tuition-free, or to make sure that everyone in America has access to affordable housing, childcare, or a good job that pays a living wage with good benefits.
Even though over half of older Americans have no retirement savings we have been told we need to cut Social Security.
But when it comes to spending $716 billion on the military – more than the next ten countries combined – all of a sudden there is a deafening silence from my Republican colleagues about the deficit.”—-Bernie Sanders
“$37 million a year alone goes to the blue angels to fly around at air shows.”
Sanders should show us the tree all these things grow on. Here’s an opposing view on such “rights”:
There is no such thing as “a right to a job”—there is only the right of free trade, that is: a man’s right to take a job if another man chooses to hire him. There is no “right to a home,” only the right of free trade: the right to build a home or to buy it. There are no “rights to a ‘fair’ wage or a ‘fair’ price” if no one chooses to pay it, to hire a man or to buy his product. There are no “rights of consumers” to milk, shoes, movies or champagne if no producers choose to manufacture such items (there is only the right to manufacture them oneself). There are no “rights” of special groups, there are no “rights of farmers, of workers, of businessmen, of employees, of employers, of the old, of the young, of the unborn.” There are only the Rights of Man—rights possessed by every individual man and by all men as individuals.
If some men are entitled by right to the products of the work of others, it means that those others are deprived of rights and condemned to slave labor.
Any alleged “right” of one man, which necessitates the violation of the rights of another, is not and cannot be a right.
No man can have a right to impose an unchosen obligation, an unrewarded duty or an involuntary servitude on another man. There can be no such thing as “the right to enslave.”
http://aynrandlexicon.com/lexicon/individual_rights.html
Perhaps we should replace the Blue Angels with Frontier Airlines?
NY State is only two State Senate votes away from single payer.
Odd move on Frontier’s part but I know they are attempting to cater to young families and upwardly mobile millennials. College kids taking a trip or going home for holidays is big. I’ve been to HQ many times and they really are great people there.
Once you accept Frontier as a discount airline, it’s a great value.
Provocateur,
I’m better than halfway through “Atlas Shrugged.” Some of the speeches by Francisco D’Anconia are just so spot on and instinctively logical. Rand is very clever and compelling. And isn’t it ironic that the story revolves around a beautiful and competent woman as an executive in a time when women were rarely considered in powerful roles! She ridicules and guts the view of a collective society wrought with graft and submissive attitudes in long missives that are truly masterful.
The big problem I have with Frontier is when things don’t go smoothly. My mom was scheduled to fly from West Palm (I think) to Trenton (Mercer) on a Tuesday. Flight was cancelled due to weather. That flight doesn’t fly again until Friday or Saturday. They would not book her on another airline. They gladly refunded her money, but her last minute new ticket cost a bundle. Buyer beware.
I’d never fly ULCC personally, for exactly that reason.
Ultra-limited routes and aircraft means cancellations are incredibly painful. Hell, even with status, it’s not all that better on United or American when things go really wrong.
By the way, the big carriers do not rebook on alternative airlines anymore. That’s a relic from another time.
I’ve gone home from EWR with a cancellation, and they refused to rebook me even though I’m platinum, they refunded the ticket in that case. There were at least a half dozen other flights that would have gotten me there.
It’s been at least 5 or 6 years since I got rebooked on an alternative.
Wow…
I don’t travel like I used to.
You are gonna end up with your name on a big bird on day.
I just broke 300,000 lifetime miles on United.
700,000 to go.
Tough because it’s rare for me to do tons of long haul like this transpacific shit.
But when it comes to spending $716 billion on the military…
Nothing feels more like a warm blanket on a cold night than the notion of having the most powerful military in the history of the world. Nothing makes one sleep better at night knowing that we can annihilate anyone. My biggest regret in life was not serving in the military and serving my country. I envy and admire those who served.
I got 300K on United myself. Been stuck in the 300s for a decade though.
I have every single boarding pass from every flight I ever took until about 5 years ago when I finally started using the smartphone E-Tickets. It fills two shoe boxes. Lot’s of interesting old airlines in there. People’s Express, New York Air, Eastern, Pan Am. It’s really quite fun to look through those old NCR tickets. And I try to tell people all of the time how much cheaper it is to fly today than it was in the 70s and 80s. Though, the service in the old days was incomparable.
Do you guys remember smoking sections?
I am flying out of Trenton next week on Frontier, saves me $1000 for four tickets compared to Newark, and for short flights they are fine. I don’t need the frills or reclining seats. Headed to Napa next month for a wedding, that one we will fly Continental out of Newark on longer haul you really need seats to recline and chance for an upgrade..
Lifetime flight miles: 345,724
That’s pretty good too. I have a ton on Delta and AA as well. Wish I hadn’t split but we went through phases of different preferred airlines before we gave up.
re: “Do you guys remember smoking sections”
Last smoking flight I remeber being on was Spring Break 89 to Jamaica. The back of the plane was smoking still the front was not. We did not smoke the good stuff…..
To merge or not to merge.
https://www.nj.com/data/2018/06/merging_191_of_njs_smallest_towns_its_on_the_table_heres_which_ones_would_get_the_ax.html#look
Merge
Turd – you have tracked all of your miles across the years and airlines?
Sounds like you could have a second career as Rain Man….
Quick someone call Trenton, we might still be able to squeeE this in:
http://money.cnn.com/2018/06/21/technology/wayfair-vs-south-dakota/index.html
Merge = Shotgun Marriages. they will need legislation and batons and rubber hoses..
The new United seats suck. They are meant for short-haul, but I’ve been caught on one a few times going coast to coast and no lie, it gave me my first friggin’ hemorrhoid. They were designed to be lighter, but there is no ass cushioning whatsoever in economy. You can recognize them pretty easily in that the base of the seats are about an inch thick. I always research the plane I’ll be on (Seat Guru) and I bring a friggin plane pillow now. I hate United.
I’m flying JetBlue to Tahoe on Saturday. They are my third favorite excluding internationals. I rank Alaska Air/V1rginAtlantic and Southwest a bit higher. Southwest, mainly due to their flexibility in both reward booking and ticket cancel/rebooking policy. They have a brilliant business model with almost no fees. Even their bags are free. They are the Mickey D’s of the skies.
On being Rain Man, I always wanted to make one of those maps with push pins and strings. I still plan to do it. I don’t buy my underwear at K-Mart. Unless it’s on sale. I am a good driver though.
Got to be worth $75-$100 million in new taxes for NJ.
I got upgraded to the new Polaris pod a few months back, I gave my wife the seat and sat in the new seat you mention all the way to Vegas. I hate the seat cushioning, but I love the extra legroom. She said it was wonderful.
My lifetime miles are 260k w/ United.
Currently have 208k mileage plus miles (piling up fast lately thanks to a United credit card) but am not sure how best to use them. Besides eventually flying on vacations.
Saver fares to Hawaii.
Use excursionist perk to get a free connecting flight around Southeast Asia.
This is by far the best outside of booking business class tickets to Europe or somewhere exotic.
Don’t use them to book a flight to Chicago.
On the smoking flights, the ash trays built into the armrests were always a combination of abc gum and ash. My last smoking flight was in the 90s. I flew Cathay Pacific to LAX from JFK on a super cheap ticket (found it on Saber). It was like $50. Year was 1990 if I recall correctly. Was surprised by how many Asians still smoked on planes.
Let me get my OAG book out….
Humm — Anecdotal for Real Estate. My home office faces the street, so I have a nice view out the front two windows of my very quiet neighborhood. The stay at home moms going for walks, the delivery and repair trucks that come and go and the dog walkers etc.
A young couple in a black Audi SUV just stopped to look at my house. They stopped and backed up, I could see them talking. I remember doing the same thing when I was shopping for homes. Out of 150 homes in my development surrounded by protected parkland there are just three for sale. Out of those only one is updated and the rest either on the busy main road or one FSBO that hasn’t been updated in 35 years and they don’t even take good care of the property. Inventory is still tight around here, but there are some of the older generation looking to move out do higher cost of living in NJ taxes etc and they want to move to a lower cost state. That inventory should be hitting over the next 5 years or so.
Nice. If the state collects tax from that…and towns merge…and SCOTUS rules on the Janus case against forced union dues…maybe there is some hope for property taxes?
grim says:
June 21, 2018 at 11:00 am
Quick someone call Trenton, we might still be able to squeeE this in:
http://money.cnn.com/2018/06/21/technology/wayfair-vs-south-dakota/index.html
Yup. Hawaii is a bargain (though a long ass flight) and they do go direct which saves some time. Also, for some odd reason, you can find them frequently. I think the planes they fly from EWR to HNL are simply too big to fill with revenue tickets and lord knows, there is very little business travel on that route.
“maybe there is some hope for property taxes?”
bite your tongue. Any supposed savings from consolidation will immediately be used up by greedy public workers who will ask for their salaries doubled now that the population they are working for has doubled. You’ll see.
We’ve done the Hawaii on mileage three times. Each time, we renew the United CC for the mileage bonus and waived fee first year.
Lib no we stand up to the unions too. The politicians have to represent all the taxpayers of NJ not just the unions.
“maybe there is some hope for property taxes?”
Nah Trenton only takes. Latest is to raise the tolls via an express lane to fund the pensions…
Really? Just wow.
and possible cuts.
Here is what is floating around Trenton.
https://www.nj.com/politics/index.ssf/2018/06/top_democrats_tax_policy_review_to_recommend_cuts.html
Juice.
Been hearing the same old sh1t from every governor since Florio. They do a study. It comes back with the necessary changes. Then there is no political will to accomplish them. I don’t blame our leaders. I blame the public who chooses to not pay attention every step of the way.
Our county owns a gigantic expensive restaurant! Need I say more?
Uh oh. I think Murphy already spent the money too….
@njdotcom
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EXCLUSIVE: Legalized weed in New Jersey isn’t happening right now. The Bill in the Legislature is DOA. #marijuana #weed #cannabis
#marijuananews
380,000 on United/continental
Quill is dead and rightfully so. It was a 5-4 decision but the mix was quite odd. Ginsberg and most R judges in favor of overruling Quill and Roberts with the rest of the D judges arguing that Congress, not the courts, should make tax policy.
The problem with the dissent is that this is basically a jurisdictional issue so it is for the court, not Congress.
I don’t like what will happen to me taxwise but I don’t disagree that it was a legally correct result.
Curiously, leftists are blaming Trump because they cannot easily break the law on sales and use taxes anymore. Shows the leftist mindset for what it is.
“Perhaps we should replace the Blue Angels with Frontier Airlines?”
Post of the day, lol.
Re: the consolidation article, makes no sense on several levels. First, the list reads like a survey of ‘perfect’ towns, excluding Salem County. I’m familiar with many…Spring Lake and Sea Girt? Alpine? Seriously? If it’s not broken why fix it? Second, the savings are a fallacy. Municipal expenses represent only 30% of budget, schools double that, even meaningful municipal cuts (if actually accomplished see the Princeton example in the article) would have only a single digit percentage effect on taxes. Third, any savings that can be accomplished by consolidation can be accomplished via shared services agreements while retaining the town’s character and self-governance. Last, I’ve generally found that when a government has to force by law citizens to do something that government deems in the citizens’ economic interest, it isn’t and it doesn’t end well for the citizen.
Re: SCOTUS and sales taxes, big news. Even bigger, saw reference that this is the entree for other taxes out of domicile. I’ll try to find article and post but the point was that the basis for taxation traditionally has been physical domicile. This ruling breaks with that concept and opens the field. Apparently, several parties involved in this case are also involved in other out-of-domicile efforts like corporate and pensions. The net to states from this sales tax ruling is pennies compared to their ability to tax a corporation on national or global earnings, or out of state retirees on their state pensions.
If NJ wants to relieve the tax burden on their current citizens stop messing with their local towns and bang all those fat pensions of Florida residents from NJ.
AMZN is not hurt by this. Bouncing back. Put a small trade on this this morning. Should have done more……
Check out the picture. Anything seem odd to you?
https://twitter.com/MichaelAvenatti/status/1009488528093384704
@MichaelAvenatti
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Here is a pic I just took at the McAllen airport of seven young boys of detained parents being transported out of the area by handlers via AA flt 5772 to DFW. Who knows where they are going from there. Sending children 1000 miles away from their parents is a disgrace. #Outraged
“children”
I hope those seven boys try out for the U.S. soccer team.
How about these five Mexican boys Moana?
https://bit.ly/2K0Vwt2
Sure it wasn’t the boy band Menudo?
I guess the pretty girls get sent to stay over at Bob Menendez’ house.
How about these ten Mexican boys? I weep for their loss.
https://bit.ly/2Mdao45
Robot Burger: https://www.bloombergquint.com/pursuits/2018/06/21/the-world-s-first-robotic-burger-is-ready-to-hit-the-bay-area
NJ really stepped in shit with the sales tax changes.
Likely takes major pressure off of budget negotiations.
I still have an AEROFLOT (АЭРОФЛОТ) board pass from April 1986…… about 3 weeks before Chernobyl…… scariest fuking flight ever…. however I was 17 and drank two industrial Heinekens in about 90 minutes….. Helsinki to Moscow…. surreal…
Libturd questioning the gender of Hillary’s Cankle fluid. says:
June 21, 2018 at 10:52 am
I have every single boarding pass from every flight I ever took until about 5 years ago when I finally started using the smartphone E-Tickets. It fills two shoe boxes. Lot’s of interesting old airlines in there. People’s Express, New York Air, Eastern, Pan Am. It’s really quite fun to look through those old NCR tickets. And I try to tell people all of the time how much cheaper it is to fly today than it was in the 70s and 80s. Though, the service in the old days was incomparable.
Do you guys remember smoking sections?
Airplane smoking sections always made me laugh. Segregating a vapor in self contained area with total volume less than a suburban bedroom?
Freaking Germans were still smoking into the late 90s on domestic flights.
Made some very atypical trades for me today. Need a slight up to flat on AMZN tomorrow….
Not sure about the amount of benefits of SCOTUS on NJ situation….funny, just bought something on AMZN yesterday. Pulled up receipt. Third party seller, no tax. Those situations will change.
I do have a purchase of about $400 I haven’t just found time to do. Will be ordering that later today now….that was Overstock, not sure if they’re pulling NJ tax or not…..
Impact to Amazon will be minor.
More interesting are the implications to companies moving or adding new sites given they won’t subject you to nexus now.
For years we strategically situated e commerce clients in places that would not subject them to significant additional tax exposure. That is no longer a major factor.
For example, if you ran an ecom company and decided to open a satellite office in California, NJ or NY, you’d be a fucking idiot.
N.J. legislature needs to test float an income tax on non-resident pensions earned in state.
Eddie,
You said you never served. Here are a few great places worthy of your time and money:
https://www.travismanion.org
http://www.fallenpatriots.org
https://heroesonthewater.org
LOL. This just makes me nostalgic. In my day there was no such thing as “College kids taking a trip” on an airplane. Spring break, you drove to Florida, or you didn’t. Period. I used to file my tax return as early as I could from my previous Summer’s job…it netted mbe somewhere between $120 and $160 and that paid for my Spring Break in Florida. It’s a different world now. I guess I saw a little of flight prices coming down in my early 20’s with People Express. A friend of mine and I flew one way from his home in Virginia Beach to EWR for about $50. He had his dad’s new Ford EXP to move in, I think, and we had to bring it back. In 1987 myself and two friends flew to Brussels for $99 each and then flew back three weeks later from Gatwick for $179. We stayed all over Europe for way less than $1500 each, which is about what we all brought with us, back when people carried cash.
Odd move on Frontier’s part but I know they are attempting to cater to young families and upwardly mobile millennials. College kids taking a trip or going home for holidays is big. I’ve been to HQ many times and they really are great people there.
Once you accept Frontier as a discount airline, it’s a great value.
^^^And we had a rental car all that time. I even wrecked one in Ireland, forgetting to tell Hertz in London that I was going to take it there. That was a little complicated;-)
Always buy the collision damage waiver, btw;-)
Ferries with discos and blackjack tables. Luring Swedish girls into our cabin because they had a bottle of scotch and the bar was closed. Good times, good times.
DFENS
“Check out the picture. Anything seem odd to you?”
They have the whole plane to themselves?
I see why South Korea is so happy for peace, if Kim rolled his tanks south he would absolutely crush the skin care and makeup obsessed male population here.
“Flawless plastic” is clearly the end game here. The closer you can get your face to look like the white glossy plastic of an LG mobile, the better.
They made the most beautiful cheeseburger I have ever eaten. It too looked like it was “flawless plastic”, but it was delicious.
That said, maybe their machine guns and artillery are works of art too, but I don’t understand the skincare obsession.
I am with my childhood buddy from Flushing. He is in NYC for business. Just off a plane from Seoul. I’ll get his opinion.
They got me to buy a blackhead correction kit for $47.
Grim
Korean fried chicken is delicious. It gets fried twice so it is crispy and is then rolled in a sauce. It gets paired with pickle daikon and beer.
Also the pizza looks fantastic. Lots of toppings we don’t have in the states like bulgogi and shrimp.
My burger came with a side of dark meat fried chicken that was out of this world.
Grim
There is a Korean skin care store in the US called The Face Shop. There is one in Edison at the hmart plaza and a few in nyc. My wife loves their stuff.
Grim,
There burgers are great too. A burger topped with a fried egg and a few slices of kimchi is incredible.
Been saying that for years. Post that suggestion on NJ .com. Watch people freak out.
grim says:
June 21, 2018 at 4:36 pm
N.J. legislature needs to test float an income tax on non-resident pensions earned in state
They’re not exactly infants.
Comrade Nom Deplume, surfacing briefly for air says:
June 21, 2018 at 6:48 pm
DFENS
“Check out the picture. Anything seem odd to you?”
They have the whole plane to themselves
I predict this gets boycotted into immediate cancellation:
https://www.hollywoodreporter.com/live-feed/roseanne-spinoff-conners-officially-a-go-at-abc-1117397
^^^Hilariously, and I mean HILARIOUSLY, a Samantha Bee static ad popped over my view of this article with a message that I could get to the article in 5 seconds.
LOL. I haven’t been on a commercial aircraft since 2003.
I just broke 300,000 lifetime miles on United.
700,000 to go.
Tough because it’s rare for me to do tons of long haul like this transpacific shit.
At my last job, everybody, and I mean everybody went to our HQ in Sweden for a week. Not for any good reason, just everybody did. I got out of it somehow. I’d go there for a year, but not a week for no reason.
Ironically, Raytheon flew me up to Boston for an interview in 1983, picked me up with a Limo, deposited me at the then brand new Sheraton Tara, along with a meal voucher for the restaurant, and picked me up, by limo again for my interviews the following day. I was actually really, really motivated to move to Boston back then.
I interviewed with three different departments, all of them wanted to hire me, I had my choice of any of the three jobs. Where came to difficulty was salary. I knew graduating engineers were worth $26-$27K, Raytheon was paying $24K. I held firm and they did too. Why would they break the mold for me?
It wasn’t until years later that I realized how clever they were. Fly a young guy up, treat him like royalty, hire him for $3K under market, back when $3K was 11% under market.
Oh, yeah, sure. the mantra of every lazy fat fukc
same shiit with your kids as they won’t serve either
Fast Eddie says:
June 21, 2018 at 10:43 am
But when it comes to spending $716 billion on the military…
My biggest regret in life was not serving in the military
Also, ironically, I was stopped out of a position in Raytheon stock yesterday. Held it for a long time, very profitable.
LOL!!!! I don’t know if I’ve told the story here before, but it’s a funny one. I almost served in the military, and I, indirectly, got a career Colonel relieved of his command when I didn’t.
My biggest regret in life was not serving in the military
Eddie,
Some worthwhile organizations that help vets and their families. Giving of your time or money allows you to serve those who have served and help kids whose parents have made the ultimate sacrifice. All good organizations. Check them out.
Travis Manion Foundation
Heroes on the water they have an NJ chapter
Children of Fallen Patriots
Lib, thoughts on EWR parking where the car is in the same condition when I come home as when I left it? Thx,
It’s a great story too. I was an innocent and I accidentally uncovered corruption in recruiting. The short story was I had done everything except having signed my contract, because the army would not put their promises to me in writing. I was shooting for a two year stint as a stateside Air Traffic Controller. They could only offer me a three year contract for that job. I said no and didn’t sign. That night a Colonel called me up and said that if I signed the next day he would put me in the “delayed entry program” and if a two year slot didn’t materialize over the next 6 months to replace the three year program he wanted me to sign up for, I would simply be discharged from the delayed entry program and it would be no harm, no foul. I said that sounded OK to me.
The next morning, the same recruiting sergeant who had been my “handler” (changed from my original recruiting sergeant after my test scores came back) picked me up in Clifton, drove me down to Newark, and they put the exact same contract in front of me that I saw the day before. I told them that none of the conditions I heard on the phone were added to the contract. They talked themselves blue in the face saying things like, “Didn’t the Colonel call you last night? Don’t you trust the Colonel?” My response was “When some MP’s are dragging me away in August are they going to believe that Coloner ________ told me I don’t have to go?” Anyway, I, again, didn’t sign, and that same Sergeant drove me back to Clifton in his military issued K-Car.
My original recruiting Sergeant called me up, I think that night, and said that he heard I didn’t sign, but I could call him up at any time if I just wanted someone to talk to. I thanked him for that.
Flash forward to maybe 9 months later. I was back in school, on my way to completing my engineering degree. I happened to be down in New Brunswick and I decided to stop in to the recruiting office where I first presented myself and let the guy I liked know that everything was going pretty good. The recruiting Sergeant that I first met, and really liked (a black guy, btw, not that it matters) still had his regular desk, closest to the door. I stepped in and got immediately cut off in my sentence, I said, “Hi Sergeant Johnson, I’m not sure if you remember me…”
Sergeant Johnson exclaimed, “ExPat – EVERYBODY REMEMBERS YOU!”
It turns out that when that Colonel called me on the phone and gave me what seemed like a good deal, it was the last day of the month. They put my name in the computer as if I signed that day. As the Sergeant told me, “Once your name goes in, it doesn’t come out. Right now you couldn’t even sign up for another branch of the service, you are still in the Army.”
Well, when my delayed entry date came up, I was officially AWOL. He told me that two MPs would have pulled out my signed contract and gone on a hunt to find me. Except…there was no signed contract. They looked, and looked, but there was no signed contract. I’m surprised they didn’t forge one. Thus began an investigation. What came out of the investigation had nothing to do with me, I was just an isolated case. What did come out, though, was that there were these things called waivers, which were filled out when a potential recruit had a criminal record. What was supposed to happen was that a recruiting Sergeant was supposed to go and obtain court records, interview witnesses, police, etc. to make a determination that these previously convicted guys were completely “rehabilitated” and suitable for the armed services. Apparently they were just typing up these waivers without any investigation into previous offenses whatsoever, but it was me being AWOL that started the whole look into their recruiting practices.
Coincidentally, I had a couple friends who had dads that were career army. One of my friends had a Mom who worked at Fort Dix in the office of the Colonel who got relieved of his command over this. I heard that if I had ever entered the service I was already “marked” to be shown a very bad time.
There is no way your reading comprehension level is higher than second grade.
Fast Eddie says:
June 21, 2018 at 10:27 am
Provocateur,
I’m better than halfway through “Atlas Shrugged.” Some of the speeches by Francisco D’Anconia are just so spot on and instinctively logical. Rand is very clever and compelling. And isn’t it ironic that the story revolves around a beautiful and competent woman as an executive in a time when women were rarely considered in powerful roles! She ridicules and guts the view of a collective society wrought with graft and submissive attitudes in long missives that are truly masterful.
Y’all just mad cuz Trump’s getting flack over the same sh!t Obama and Clinton got away with.
Here’s your problem— you actually agree with the warmongering, colonizing, corporatizing ways of the Democratic Party so you can’t very well call them out on it because you want to do the exact same stuff.
All that leaves you is bs like Benghazi, Benghazi, benghazi, fake gotcha videos, and twenty year old land deals that net nothing more than a lie about a bj.
Ottoman has something up his ass this morning, right?
For everyone except Pumps:
“You’re betraying your whole life if you don’t say what you think, and you don’t say it honestly and bluntly.” – Charles Krauthammer
Remember the good old days when Reagan defended Guatemalan President Montt as a good guy who was getting a bum rap by his United Nations tribunal for genocide?
So funny, the very next day, Montt’s thugs raided a village of 170 people and smashed all the baby’s heads against walls, forced kids and men to stand at the top of a well and shot them in, then r@ped the choice women and punched the pregnant ones until they miscarried and threw them into the well alive and buried it over.
Yes, America is a shining city on a hill and republicans are its moral compass. Derp…
So funny, the very next day, Montt’s thugs raided a village of 170 people and smashed all the baby’s heads against walls, forced kids and men to stand at the top of a well and shot them in, then r@ped the choice women and punched the pregnant ones until they miscarried and threw them into the well alive and buried it over.
Yes, America is a shining city on a hill and republicans are its moral compass. Derp…
Sounds like something MS13 would do
That attitude by Central American governments above, now add deported Cali gangbangers that are not afraid to shoot back – a change the uniformed thugs never expected, as the tradition was they were unaccountable, add another dose of plantation style plutocrats (think Ayn Rands wet dream) and a touch of illegal abortion with macho culture ending with women always pregnant and you have one hell of a societal hellish party of countries.
I think Ottoman is trying to find the magic keystrokes that unobstructs his rectum.
Nomad,
For long-term parking, you can’t beat ABC. If you pay cash instead of using a credit card (non-business trip), they will usually charge you some random rate between $5 and $7 a day. If paying by CC, there is a coupon that comes up when you make a reservation which brings the price down to a little over $8 a day.
The only shortcoming of ABC is that their van sometimes takes about ten minutes to show up after you call. But for the savings, it’s worth it. All the people who work there are very sweet. Especially the girl in the office. I’ve parked there at least 50 times without an issue.
Thanks Lib
Expat,
Someone would have to think before they could say what they think.
Parroting words one has heard before doesn’t count as thinking.
VSG and Ottoman should get a room. Then read some Noam Chomsky to one another followed by some Maddow time.
@MichaelSLinden
“These aren’t our kids,” explains everything about the modern GOP.
– Millions of low-income kids left out of their tax cuts.
– Ignoring Puerto Rico and Flint
– “Tender Age shelters”
– Cuts to nutrition assistance
– Outrage over athletes calling attention to police brutality
Mushnick:
Reader Ronald Angelo has a question for New Jersey Gov. Phil Murphy, who grandstanded making the state’s first legal sports wagers: “Will he also pose smoking the first joint when weed is legalized?”
Bond market positive American Dream will be a success. Chicagofinance, what do you make of these AD bonds?
(BN) New Jersey Mega Mall Yields Big Win to Bondholders Chasing Risk
+——————————————————————————+
New Jersey Mega Mall Yields Big Win to Bondholders Chasing Risk
2018-06-22 14:05:38.33 GMT
By Martin Z. Braun
(Bloomberg) — A year ago, about $1.1 billion of tax-exempt bonds were sold to finish the American Dream complex in New Jersey’s Meadowlands, a project that’s a bet the so-called death of the shopping mall can be countered with attractions like an ice skating rink, roller coasters and a six-acre indoor waterpark.
Most of the work won’t be done until next March. But the development is already delivering big profits to investors.
As bond buyers pour money into riskier debt in pursuit of higher yields, some unrated securities sold for the Triple Five Group project have returned 18 percent over the past year, a gain rarely seen in the municipal market. It joins other speculative securities, including those issued by Chicago’s school system, that rallied as defaults remain scarce and the economy continues its second-longest expansion in history.
“Nothing negative has happened so far, it’s just benefited from market dynamics,” said Daniel Solender, head of municipal investments at Lord Abbett & Co., which owns some of the bonds.
In the 12 months to June 21, municipal high-yield debt returned 6.6 percent, compared to 0.92 percent for investment grade state and local government bonds, according to Bloomberg Barclays Indexes. Investors have added $5.7 billion to high- yield municipal bond funds over the past year, more than half of all the money that’s flowed into to state and local government debt funds, according to Lipper US Fund Flows data.
The American Dream sale, the largest offering of unrated municipal bonds last year, will help complete a project that has been in the works for nearly two decades. It was conceived in 2002, and initial work began in 2004 across the highway from what is now MetLife Stadium. Construction was abandoned after previous developers ran short of funding.
Triple Five, which took it over, sold $800 million in municipal bonds backed by payments in lieu of property taxes and about $270 million in sales-tax backed debt. If Edmonton, Alberta-based Triple Five doesn’t pay property taxes, the trustee can foreclose on the property. The holders don’t have any recourse if the project doesn’t generate enough sales-tax money to cover the bonds backed by that revenue.
Investors don’t seem worried. Bonds maturing in 2050 were issued at about 102.8 cents on the dollar and are now trading at
115 cents, pushing the yield down to about 5.05 percent from
6.63 percent. Much of the gain on the American Dream bonds came in the first few months after the debt was issued, according to Robert Amodeo, head of municipals at Western Asset Management.
“When it came to market it was such a speculative deal,”
Solender said. “To sell a whole deal at that size it took an attractive yield to get everyone interested.”
Construction of the $2.8 billion Las Vegas-inspired mega complex, which will also include an indoor ski slope, Ferris wheel, aquarium, performing-arts theater and 500 stores is about
60 percent complete.
At the site, construction workers are laying steel for an indoor water park and pouring concrete at the ice skating rink.
The Saks Fifth Avenue tenant space is ready to turn over to the department store and roller coaster sections are being put in place, according to project status reports.
More than three-quarters of American Dream’s 2.3 million square feet was leased as of November 2017, according to a May
30 project status report. All of the retail anchor space and stores of more than 50,000 square feet are leased.
Triple Five is building an even bigger mall in Miami, also called American Dream. The 6.2-million-square-foot retail and entertainment complex will cost an estimated $4 billion and will be built without public subsides, unlike the New Jersey project.
Triple Five also owns the Mall of America in Bloomington, Minnesota.
To contact the reporter on this story:
Martin Z. Braun in New York at mbraun6@bloomberg.net To contact the editors responsible for this story:
James Crombie at jcrombie8@bloomberg.net William Selway, Michael B. Marois
Yo those bonds were purchased by QIBs only no retail.
Yo! says:
June 22, 2018 at 1:30 pm
Bond market positive American Dream will be a success. Chicagofinance, what do you make of these AD bonds?
“Nothing negative has happened so far, it’s just benefited from market dynamics,” said Daniel Solender, head of municipal investments at Lord Abbett & Co., which owns some of the bonds.
restated….. money has been drawn into the U.S. fixed income market in search of yiedls since these bonds were issued. I disagree that the bond market is saying this “Bond market positive American Dream will be a success.”
The yields on these bonds are still incredibly speculative…..regardless of current absolute levels
Judging by the retarded crowds that frequent Jersey Gardens, and the general high level of stupidity that makes the Mall of America a more popular destination than Disney World. There is no doubt that this mega mall will be anything but a major success.
http://www.trumphotels.org/
I like how Trump’s hotels have toned down the gaudiness and amped up the industrial vibe. You can tell they’re going after the hipster millennial crowd. Probably Jared’s idea. He’s so clever.
In other words, you’ve spent a significant amount of time in this mall yourself to observe this.”
“Judging by the retarded crowds that frequent Jersey Gardens,”
Q: I was heading north on the NJTP yesterday……. one of the time estimate boards reflected 33 minutes to Exit 14A…… when I drove it off in traffic etc… it only took about 13-14 minutes…… anyone care to comment?
Regarding parking at EWR – If I am gone for more than 3 days, I find Uber to be the best option and I pretty much only travel on my T&E. The convenience factor, speed, no shuttle/air train, all make the extra couple of bucks worth it, to me anyway.
Wow – SCOTUS ruled 5-4 warrant now needed for cell phone tracking..
Was it to 14A or to the holland via 14A?
Driving north on NJTP just north of Woodbridge Exchange and the board described time to Bayonne Exit Via Newark Ext……. maybe I misread the destination?
Weird NJ (State Police Edition)
WARNING: Extremely graphic content and language.
MOUNT HOLLY – A motorist’s lawsuit claims he was twice abused by the New Jersey State Police – first when a trooper searched inside his pants on a Burlington County roadside, and again when a video of the incident was released to the public.
Jack Levine, a Toms River man who alleges the search was a s*exu*al assault, wants damages of at least $900,000 for the March 2017 incident.
https://www.app.com/story/news/weird/2018/06/22/jack-levine-new-jersey-state-police-anus-search/724742002/
Haven’t been to JG in about three years. Was there once. Which was once to often.
Measured by landlord profit growth, JG is a great success. It is the easiest way for a tourist visiting New York City to go on a shopping spree and fill a suitcase with apparel for $1,000. Measured by shopping experience, not so great though.
BREAKING: OPEC countries give in to President Trump’s demands, agree to increase oil production by almost 1 million barrels a day – AP
I think the damages should be about $900.00 …and paid to the trooper.
Weird NJ (State Police Edition)
WARNING: Extremely graphic content and language.
MOUNT HOLLY – A motorist’s lawsuit claims he was twice abused by the New Jersey State Police – first when a trooper searched inside his pants on a Burlington County roadside, and again when a video of the incident was released to the public.
Jack Levine, a Toms River man who alleges the search was a s*exu*al assault, wants damages of at least $900,000 for the March 2017 incident.
https://www.app.com/story/news/weird/2018/06/22/jack-levine-new-jersey-state-police-anus-search/724742002/