From CNBC:
How the hustle and gig economy is choking the middle class
For Emmanus Stephen, an Uber driver from Asbury Park, New Jersey, earning enough to pay the bills means strategizing carefully about where he will work each day.
Local, short-distance rides near his home on the Jersey Shore are convenient for him, but they don’t pay well — “You drive all day and you can make $100,” says the father of six.
So to pay the bills, he’ll often drive the 45 miles to Newark Liberty International Airport, where he can shuttle travelers on longer distance, more lucrative trips. He works all night to beat the New Jersey traffic, then heads home at 4 a.m., dropping his children off at school before getting some shuteye.
With Uber preparing for an IPO, the issue of whether gig economy workers like Stephen can earn a living wage is likely to reemerge. For publicly traded companies, the issue of social impact is a growing issue.
Many gig economy workers are part-timers doing freelance work on the side, to supplement paychecks from full-time jobs. There are 15.8-million independent workers who are full-timers, according to The State of Independence in America 2018 report by MBO Partners, which studies the freelance economy.
First
The gig economy is way for tolerable with a Universal Single Payer Medicare For All (M4A). Without it, it will be hell.
Add to it the Trump small business friendly tax cut, and with eventual legal pot, the Hendley Family will have another source of gig income.
So instead of the other Hendleys and Smith having a W-2 Full time job with health insurance and retirement plans. If they have a small business with its solo 401k/sep-ira and alike retirement plan and not have to worry about health insurance, it may be very tolerable and actually feel better because of the independence it gives the person.
Let’s face it, the health insurance industry are paperwork pushing rent seekers.
Get rid off them with a Universal Single Payer M4A. And the stealth bail-out allows for public and private pension plans fix themselves, lower property taxes, space for the entrepreneur spirit to go nutz, along many other benefits.
And I still say, the dems will give the election to Trump by ignoring and bullying away the M4A Sanders crowd. Trump is going to take the M4A issue and rebrand it as TrumpCare 2020.
Why doesn’t Jerry Nadler just go to a SCIF and read the un-redacted Muller report himself? What’s the point of holding Barr in contempt for refusing to break the law? Does he not think people are able to figure this out?
I have to give props to Trump for recovering from a billion dollar loss. I would kill myself if I lose 1 billion dollars.
One thing for sure. He is one of the greatest bullsh!t artists of all time.
Proof that sales matter more than the product. If you can sell bs, and live with yourself, you will make a lot of money. FYI, this is why I hate salesmen.
1987-1994?
That was the late 80s/early 90s real estate collapse.
Lots of commercial property deals blew up.
Multi family was a big part of that real estate crash.
* lost 1 billion
Definitely, he took on way too much. Amazing to recover from a hit like that.
From
http://investmentresearchdynamics.com/actual-home-sales-are-tanking-heres-proof/
To the extent the NAR and Census Bureau’s data sausage-grinder is fed inaccurate data and thereby vomits a bad monthly “adjusted” number, annualizing that result magnifies the error. As it turns out, when sales are declining, the regression models used to “seasonally adjust” the data collected overstates actual sales (year over year monthly existing home sales have declined 13 months in a row).
A better measure of real homes sales is to look at actual numbers from companies in the business of pimping used homes or building and selling new homes. Realogy (RLGY) is the perfect laboratory rat for existing home sales. Realogy is the leading provider of real estate services in the U.S. under the brand names of Coldwell Banker, ERA, Sotheby’s, and a few others. Its shares plunged 15% on Thursday as losses from Q4 accelerated in Q1. Revenue declined 9% year-over-year vs a 6.2% in drop in Q4. The culprit was a 4% drop in transaction volume. The actual “same store sales” decline was likely larger because RLGY’s Q1 numbers are skewed by the acquisition and franchising of Corcoran, making the this quarter’s year/year comps irrelevant.
If any business reflects the true condition of the housing market, it’s RLGY. Existing home sales represent 90% of total home sales and RLGY is the largest real estate brokerage concern in the country. Yes, some select areas may still be showing “red embers” of activity. But most of the country is headed into what will ultimately be a severe housing recession. RLGY was down another 8.7% on Friday. It’s now down 33% since reporting its numbers last week.
RLGY may still be worth shorting here. It’s bleeding cash. It lost $135 million on an earnings before taxes basis (the income statement did not show operating income as line item). Its operations burned $103 million. The Company added an additional $100mm in debt, which now stands at $3.3 billion. The bond issue which it floated in Q4 had a coupon of 9.375% – a triple-C rated yield. Triple-c rated companies typically have a high probability of eventually going bankrupt. The tangible book value of the company – i.e. subtracting goodwill – is negative $1.6 billion. I wouldn’t touch RLGY’s bonds any more than I would touch TSLA’s or NFLX’s bonds. RLGY is on track to run out of cash by the end of September.
In the new home sales arena, Beazer (BZH) stock has plunged 18.4% since reporting its latest quarterly numbers on Friday. BZH’s closings were down over 10%, revenue down 4.6% and its gross margin plummeted (sales incentives to move inventory). Even adding back the write-down of California inventory, BZH’s net income was nearly cut in half and new orders were down close to 8% in the first 6 months vs 2018.
Note: it looks like homebuilders will begin the inventory write-down cycle again. It starts slowly and snowballs into an avalanche. So much for the “tight inventory” narrative that shoved down our gullet the NAR’s little con-artist, Larry Yun.
Maybe this is what the Dems are really afraid of? Maybe the Obama administration was spying on more than one GOP campaign as far back as 2015?
https://www.realclearpolitics.com/video/2019/05/05/papadapoulos_i_got_caught_in_a_perjury_trap_it_was_a_setup_by_uk_and_australian_governments.html
NY Slimes more fake news. Trump wrote about being broke and in debt “billions” in 1990 after the crash in his book “The Art of the Comeback” published in 1997. He also spoke about it when he was promoting the book. It was also common news in NY if you lived here in the 1990s, plenty of stories in the NY Post and NY Daily News that Trump was broke from the stories of him having to sell his Yatch the Trump Princess (the one that appeared in the Bond movie, Never Say Never Again) in 1991 to Prince Al-Waleed bin Talal for $19 million and took a huge loss.
It’s no secret to older folks, this is just the NY Times trying to drudge up old news.
544 days until the election folks, lots of time for slime and smears…
The NYTimes hit piece is telling of Trump’s willingness to lie and his insatiable need to always make believe he is winning the money race. It also speaks loudly to how poorly written our tax laws are when it comes to LLC losses. Pt. Barnum he is.
Expat – re: Spying – The NY Times reported that “Ms. Turk” was sent by the FBI to try and seduce and entrap Papadopoulos. The NY Times is going to have to redact. There seems to be no FBI agent “Ms. Turk”, nothing in the Muller Report to confirm or deny either. Was it a CIA and MI6 Operation? Looks like it was a spying operation not law enforcement.
How many heads will be rolling by election day?
Why doesn’t the executive branch just hand over the report to the coequal branch of government that has the exact same security clearance as Barr? Barr and trump told us all how it fully exonerates him. So what’s the problem? Unless that was a lie.
BTW, the version of the report being offered to congress isn’t unredacted. It’s less redacted.
Turn off Fox News, dummy.
D-FENS says:
May 8, 2019 at 9:53 am
Why doesn’t Jerry Nadler just go to a SCIF and read the un-redacted Muller report himself? What’s the point of holding Barr in contempt for refusing to break the law? Does he not think people are able to figure this out?
They did. That’s what I just said….dummy.
Nadler can go to a SCIF and read it any time.
I guess I have my answer. The average dummy can’t understand this.
Ottoman says:
May 8, 2019 at 10:34 am
Why doesn’t the executive branch just hand over the report to the coequal branch of government that has the exact same security clearance as Barr?
“What’s the point of holding Barr in contempt for refusing to break the law? Does he not think people are able to figure this out?”
Too deep in the weeds for the average American, and certainly something biased liberal media isn’t going to delve into (looking at you CBS This Morning, tossing underhand softballs to Comey this morning). Rubber will hit the road on this one if/when the Dems decide to prosecute subpoenas or contempt. No higher level judge is going to sign off if the Dems haven’t taken the first step of looking at the confidential information they were offered.
“It’s no secret to older folks, this is just the NY Times trying to drudge up old news.
544 days until the election folks, lots of time for slime and smears…”
CBS just moves Nora O’Donnell into the main anchor slot on the 6pm news…she’s one of the more openly partisan anchors…
Good thing newspapers and nightly news are becoming less relevant by the minute.
But make no mistake, the l1beral front is loading up for bear.
“Coequal branch” does not equate to a rollback of Separation of Powers, you dipswitch. The Legislature is not privy to Justice Department dealings. And congresstools don’t get to read through juicy Federal Grand Jury testimony that did not result in indictments so they can call those named in the testimony to their “crimes” by the very nature of the 5th Amendment. You should read it sometime.
You still must have a need to know to access classified info. Particularly if will compromise sources and methods. What’s nadlers need to know? So he can leak it to fake news publications?
It’s just furthering of the attempt to criminalize executive privilege. Fake news.
“Zimmerman Flew, Tyler Knew”
Trump’s a complete laughingstock.
Comey is tight with fake news again because they have a common goal. Preserve the myth that the Russia investigation was legit and not political targeting by obama(disciple of domestic terrorist bill ayers). The truth is slowly being revealed.
You’ll know the deep state is nervous when the dead bodies start surfacing. It’s only a matter of time.
I think GdBls is Alex Jones.
He certainly sounds like him.
https://www.youtube.com/watch?v=Lnl8ZXC3QMM
One term Murphy – boot him out.
https://www.nj.com/politics/2019/05/murphy-wanted-this-law-to-protect-your-property-tax-break-from-trump-reforms-but-no-nj-town-has-allowed-you-to-sign-up.html
I think Trump just crashed the https://workhorse.com/pickup/ website
Otoo – floating another mistruth it is simply not so, the Attorney general has a much higher security clearance.
Only gang of eight has SCIF.
Adam Schiff (D-CA-28), Chair
Devin Nunes (R-CA-22), Ranking Member
Richard Burr (R-NC), Chair
Mark Warner (D-VA), Vice Chair
Nancy Pelosi (D-CA-12), Speaker of the House
Kevin McCarthy (R-CA-23), Minority Leader
Mitch McConnell (R-KY), Majority Leader
Chuck Schumer (D-NY), Minority Leader
Worst governor ever.
Didn’t Trump file bankrupcy in ’91 and ’92 as well?
Would impact would that have had on liquidation or write down of assets?
Isn’t that pretty much the same time the airline and casinos imploded too?
For all of you Trump russkie adventures excusers read on;
https://20committee.com/2019/05/07/russian-activities-across-europe-a-contrarian-assessment/
What’s Ahead For EUCOM and NATO
Aggressive Russian Special War – that is, espionage, disinformation, cyber-attacks and disruptions, propaganda, terrorism, even assassinations abroad – will continue to be the Kremlin’s major day-in, day-out weapon of choice against NATO and the West. [11] Special War, led by Russia’s powerful and aggressive special services, will be employed, without restraint, to weaken Western resolve while creating political and military conditions favorable to Russia. That Moscow wants the end of both NATO and the EU – and the U.S. military out of East-Central Europe – should not be in doubt.
EUCOM and NATO need to be prepared to blunt aggressive Russian military moves on the Alliance’s fringes, especially the Baltic States, while the possibility of a Kremlin-backed coup in Minsk is real. For want of a rapid response by NATO, such regional confrontations could easily turn into a wider war which nobody on either side really wants.
EUCOM’s current force posture in the AOR is inadequate to realistically deter possible Russian adventurism on the Atlantic Alliance’s eastern edge. Deficits in artillery and EW are especially serious, while overall NATO readiness to contest possible Russian aggression in Eastern Europe is lacking.
What is to be Done?
Understand the ideological aspects of the reborn military and political confrontation between Putin’s Russia and the West since 2014.
Understand the real drivers of Kremlin policymaking, particularly as they relate to Russian activities designed to weaken and divide the West (especially NATO and the EU).
Understand the central role of the ‘special services’ in Kremlin decision-making, and how the dominance of spies in Moscow creates threats – and opportunities – for the West.
Understand Putin’s strategic aims in Europe and the preeminent role of Special War in the Kremlin’s quotidian aggressions against NATO and the West.
Strengthen NATO’s military posture (including rapidly deployable forces) on the Alliance’s eastern edge to deter Kremlin provocations and aggression.
Develop effective NATO counterespionage and counterpropaganda capabilities to limit the damage inflicted on Western institutions by Kremlin Special War, which will not cease, since they are cost-effective for Moscow.
Accept that Cold War 2.0 is here and shows few signs of abating without the fall of Putinism – which is unlikely to happen soon. Moreover, Putin’s replacement could be a more sincere Russian nationalist than he is. This conflict, to include ideological aspects, is here to stay for at least decades.
The fact that rich real estate guys write everything off and pay no taxes is a real bombshell. I’m sure the fake news by times is preparing to give themselves an award as we speak.
I guess Maria Bartiromo is now in league with Alex Jones? Lib – watch and tell us which part doesn’t seem credible. Also, stop getting all your news from Rachel Maddow.
1. The intel community was running operatives at Papadapolous when he was working for Ben Carson’s campaign in 2015.
2. When Carson folded up his tent in Jan 2016 a UK-based intel front gave Papadapolous a “no work” job.
3. When Papadapolous resigned from the firm to join Trump’s campaign they were pissed off, but insisted that he go to Italy to meet someone else “that would help him” while working for Trump.
Essentially they did this. They ran spooks at him telling him “Hey the Russians have dirt on Hillary.” Then months later they ran more spooks at him asking, and probably recording, “Hey, have you gotten anything from Russia on Hillary?” He just didn’t take the bait.
They did the same thing with the Trump dossier to get the FISA warrrant. They leaked it to Michael Isikoff who wrote an article parts of it, then they used their own leak of the dossier as corroboration of the dossier itself to get a FISA warrant to spy on Carter page.
Both are the same. The DNC/FBI/CIA/State department created the collusion illusion (ironically with perhaps Russian disinformation), and then used that as the basis for an investigation.
https://www.realclearpolitics.com/video/2019/05/05/papadapoulos_i_got_caught_in_a_perjury_trap_it_was_a_setup_by_uk_and_australian_governments.html
Trump’s companies have filed for Chapter 11 bankruptcy protection, which means a company can remain in business while wiping away many of its debts. The bankruptcy court ultimately approves a corporate budget and a plan to repay remaining debts; often shareholders lose much of their equity.
Trump’s Taj Mahal opened in April 1990 in Atlantic City, but six months later, “defaulted on interest payments to bondholders as his finances went into a tailspin,” The Washington Post’s Robert O’Harrow found. In July 1991, Trump’s Taj Mahal filed for bankruptcy. He could not keep up with debts on two other Atlantic City casinos, and those two properties declared bankruptcy in 1992. A fourth property, the Plaza Hotel in New York, declared bankruptcy in 1992 after amassing debt.
PolitiFact uncovered two more bankruptcies filed after 1992, totaling six. Trump Hotels and Casinos Resorts filed for bankruptcy again in 2004, after accruing about $1.8 billion in debt. Trump Entertainment Resorts also declared bankruptcy in 2009, after being hit hard during the 2008 recession.
Why the discrepancy? Perhaps this will give us an idea: Trump told Washington Post reporters that he counted the first three bankruptcies as just one.
Trump’s companies have filed for Chapter 11 bankruptcy protection, which means a company can remain in business while wiping away many of its debts. The bankruptcy court ultimately approves a corporate budget and a plan to repay remaining debts; often shareholders lose much of their equity.
Trump’s Taj Mahal opened in April 1990 in Atlantic City, but six months later, “defaulted on interest payments to bondholders as his finances went into a tailspin,” The Washington Post’s Robert O’Harrow found. In July 1991, Trump’s Taj Mahal filed for bankruptcy. He could not keep up with debts on two other Atlantic City casin0s, and those two properties declared bankruptcy in 1992. A fourth property, the Plaza Hotel in New York, declared bankruptcy in 1992 after amassing debt.
PolitiFact uncovered two more bankruptcies filed after 1992, totaling six. Trump Hotels and Casin0s Resorts filed for bankruptcy again in 2004, after accruing about $1.8 billion in debt. Trump Entertainment Resorts also declared bankruptcy in 2009, after being hit hard during the 2008 recession.
Why the discrepancy? Perhaps this will give us an idea: Trump told Washington Post reporters that he counted the first three bankruptcies as just one.
” Also, stop getting all your news from Rachel Maddow.”
I don’t get my news from far left sources ExPat. You know that.
But this deep state, Bill Ayers sh1t is about as tiring as Obama is a Kenyan.
grim,
your thoughts?
https://www.nj.com/news/2019/05/potential-ping-pong-olympians-training-in-this-nj-town-some-residents-are-peeved.html
That’s awesome Joyce.
Total Nimby issue over nothing.
Nonsense – like Stu says – nimby.
There is plenty of commercial on Colfax already. There is a tennis club right across the street.
You could put 10 townhomes on the lot, maybe they would like that more?
The fact that Trump is still alive is definitive proof that there is no deep state.
I was just Alex Jonesing you back, as you know I don’t get my information there either.
” Also, stop getting all your news from Rachel Maddow.”
I don’t get my news from far left sources ExPat. You know that.
301 Moved Permanently [url=https://www.918online.today/category/live22/]301 Moved Permanently!..[/url]
Sure. Tell me another one.
It’s 10 acre lot. 7.5 acres are wetlands. aka the land owner MIGHT be able to build one home on it. So he is trying to double down on a bad investment by trying to get the town to change the zoning from residential to commercial. No chance in hell.
If you were paying 43,ooo in taxes, would you allow a commercial building to go up in your back yard? I’m glad you guys are for taking a dump on high paying property tax owners. I’m sure you guys would approve of this in your backyard.
Btw, tennis club was built before any housing was there. It is grandfathered in and does not ruin the character of the neighborhood as it is in a unique location.
The commercial warehouse does not belong there and that’s what this landowners aim is. To sneak in a “ping pong” facility, get the zoning changed and wetland issues removed, and then after the ping pong facility fails, turn it into whatever commercial building he can get away with……he will make it an eyesore until he gets his way. Tell him to go to Franklin lakes, get the zoning changed, and put the commercial building in front of his house.
Grim says:
May 8, 2019 at 12:31 pm
Nonsense – like Stu says – nimby.
There is plenty of commercial on Colfax already. There is a tennis club right across the street.
You could put 10 townhomes on the lot, maybe they would like that more?
Why ruin the neighborhood? You get no tax gain. You will kill the value of the neighborhood with terrible planning (commercial does not belong next to upscale homes) and open up a can of worms for the rest of wayne.
Whatever taxes were gained from building on that land will be lost when the homeowners come with their lawyers to lower their taxes.
If they build there, I will sell immediately, and I don’t care if I take a loss. It’s about quality of life. I’m not paying high taxes to look at a commercial building. Sorry, not sorry.
So wayne would be wise to not destroy this neighborhood with awful planning.
You don’t develop for the sake of development. You carefully come up with a long-term plan and vision.
Ignore.
Now it’s the FBI AND The State Department that is implicated.
If ever there were an admission that taints the FBI’s secret warrant to surveil Donald Trump’s campaign, it sat buried for more than 2 1/2 years in the files of a high-ranking State Department official.
Deputy Assistant Secretary of State Kathleen Kavalec’s written account of her Oct. 11, 2016, meeting with FBI informant Christopher Steele shows the Hillary Clinton campaign-funded British intelligence operative admitted that his research was political and facing an Election Day deadline.
https://thehill.com/opinion/white-house/442592-steeles-stunning-pre-fisa-confession-informant-needed-to-air-trump-dirt#.XNIAVvr8PT0.twitter
^^^^
Everything else in the memo was redacted. The FOIA notes contain this explanation for the redactions: “Classified by FBI on 4/25/2019 — Class: SECRET.”
In other words, the FBI under Director Christopher Wray classified the document as “secret” just a few days ago. To add injury to insult, the FBI added this hopeful note: “Declassify on 12/31/2041.” That would be 25 years after the 2016 election.
Joyce, I see what you did there….😆
It’s not a neighborhood, it’s a straight-ass highway that connects to two other highways.
So wayne would be wise to not destroy this neighborhood with awful planning.
You don’t develop for the sake of development. You carefully come up with a long-term plan and vision.
That was my greatest call of all. Even if you sell now, it will be for a loss. Nice going genius.
Hahahahahahahahahahahhaaha
If they build there, I will sell immediately, and I don’t care if I take a loss.
Keep telling yourself that if it makes you feel better.
The Original NJ ExPat says:
May 8, 2019 at 1:37 pm
It’s not a neighborhood, it’s a straight-ass highway that connects to two other highways.
Isn’t it awesome that the article mentions the speed limit?
Leftwing says:
May 8, 2019 at 1:34 pm
Joyce, I see what you did there….😆
Would you allow them to change the zoning after the fact? Of course you wouldn’t, but you have no problem calling nimby when it’s not your money being impacted. Cool.
You live in Glen Ridge, why not pick a town with commercial since you have no problem with it.
Libturd, can’t say I didn’t warn you. says:
May 8, 2019 at 1:19 pm
Ignore.
Straight. Check
Ass lives there. Check
Highway. Has a state route number and high speed limit, Check.
Has traffic lights and connects to other high speed roads at both ends. Check.
I think somebody else is more in the market for trying to feel better.
Keep telling yourself that if it makes you feel better.
The Original NJ ExPat says:
May 8, 2019 at 1:37 pm
It’s not a neighborhood, it’s a straight-ass highway that connects to two other highways.
The property is probably better suited for manufacturing pancake in a can. It would be even cooler if they named a new product Nate’s Homemade Pupmkin Flavor, because it would be made right by Pumpkin’s home.
Hahahahahahahahahahhahahahahahahahahhaha
NHMD, 0.001 per share. Buy, buy, buy!
I wasn’t even going to comment at first, too easy. But then Pumps let the pumpkin out of the bag.
Joyce, I see what you did there….😆
Hard to believe but Beyond Meat stock has a market cap of about $5b. I think that will turn out quite poorly some day. Has anyone here eaten this?
Define NIMBY: a person who objects to the siting of something perceived as unpleasant or potentially dangerous in their own neighborhood, such as a landfill or hazardous waste facility, especially while raising no such objections to similar developments elsewhere.
Isn’t it ironic that the one who rails against income inequality and the rich getting special privileges argues that you shouldn’t put it there because there are some big expensive homes there?
Table tennis upgrades the neighborhood. It draws the Asians to town, which bumps up the local school score stats, which drives up the NJ Magazine HS rating, which leads to more people trying to move into town and higher RE prices. Punkin should welcome the development.
Bergen field was just voted one of the best high schools in north Jersey. Definitely not a so called desirable town.
I’m going to start calling Pumps NIMFY.
Learned me a new fcuking term
“white fragility”
I learned me a new field of study
“My area of research is in Whiteness Studies and Critical Discourse Analysis”
Re: “Beyond Meat stock has a market cap of about $5b”
They have distribution.
https://www.beyondmeat.com/where-to-find/
Shoprite, Target, Walmart, Whole Foods, Stop n Shop, Kings all carry it.
Pricing, however, does not compete. $5.99 for two quarter pounders, the packaging is only 2 burgers which is $12 a Pound vs $3.00 a pound for ground beef anywhere else that isn’t, organic, grass-fed, free range etc.
I guess if you weren’t raised on real burger meat you won’t notice a difference.
It’s pretty much all wetlands. You want to put a residential home on the land you can actually build on, go ahead. If you want to change the zoning and put up a warehouse on wetlands in a residential neighborhood, good luck!!
This Dr tried pulling a fast one and not going to happen. He made a bad investment and is now trying to change the rules mid game. He can kiss my a$$.
Best part, my neighbor who is also a doctor works with this chump. I’m sure their relationship is now ruined because he chose money over morals/values.
Blue Ribbon Teacher says:
May 8, 2019 at 2:06 pm
Define NIMBY: a person who objects to the siting of something perceived as unpleasant or potentially dangerous in their own neighborhood, such as a landfill or hazardous waste facility, especially while raising no such objections to similar developments elsewhere.
Isn’t it ironic that the one who rails against income inequality and the rich getting special privileges argues that you shouldn’t put it there because there are some big expensive homes there?
People like pumps used to drive my dad nuts, he was a developer who built retail among other things. Often times they’d want to build or expand a retail center and the nimby’s would come out. It drove him crazy because these people live on the side of the highway surround by retail already and they would complain about expansion and new stores. Your home is already in a sub par location, allow the redevelopment of retail at least the property will be improved and the tax revenue is undeniable. Truth is residential generally had higher yields and was more in demand, if the site was appropriate for residential typically it was more profitable to develop as apartments. If you buy a home where there is undeveloped land near by you have to expect almost anything can be built there, especially if you live on a county road.
Best bet is to ensure what is developed, matches the neighborhood aesthetic, and is not over sized but you are getting a building there most likely. Perhaps pumps and his neighbors can raise 1-1.5m and just buy the land, give the developer a small profit and he can try to find a different site? 45 mph speed limit, cripes that is a highway, I always thought you guys were exaggerating!
Btw, that doctor pays 70.00 a year on ten acres. I live across the street from a farm, who knew?
And that’s the best part.
“Some folks on Colfax and Gorge Road pay close to 30 thousand in taxes per year. The farm property owner pays 70.00 then wants to lower everyone’s property value by building a warehouse building in a wooded environmentally fragile area. To me that is crazy.” Quote from a Facebook forum
So wait…are you saying he made a bad investment on Wayne Real Estate….right near you. haha
If the developer really wanted to make money, 30-40 2 bedroom apartments, from the sounds of it he can get a 27,000 sq ft building on the site. Probably could build out for around 7m, stick building 3-4 stories, 40k sq ft and have 700k per year net cash flow. With some leverage he could probably make 14% on his investment.
been watching hey mon youtubes all day. funny!
“wooded environmentally fragile area”
Is that your safe space pumps?
It looks to be E-15 Zone, those acres can be chopped up into a 30 home development, they can call it Pumpkin Woods, and name the streets after like Squash Ct, Gourd lane etc.
https://www.waynetownship.com/component/edocman/?task=document.viewdoc&id=1100&Itemid=0
Jcer,
That was intentions. The guy made a mistake. Thought he could build on it and can’t. He can’t make money on a 1-3 home development. So he doubled down and tried finding away around it. Smart move was to donate the land for tax purposes and make the best of a bad investment.
For the hundredth time, it’s a 10 acre lot with 7.5 acres of wetlands. According to his architect at the zoning board meeting, he can only build a house on it.
So on land where he can only build one residential home, he wants to try and build a monster commercial building on it. Sure, that makes sense. There is no way in hell this is passing.
Gourd lane! LOL
Hold on, Pumpkin lives by the ping pong project?
Too rich
BEYOND.
The market cap is insane. Probably every vegan and vegetarian investor bought some. Gator has been buying the stuff regularly, but with lots of coupons and discounts, we can usually get it for about $2 to $3 pound, which is pretty reasonable. It is by far, the best meat alternative out there. Their sausage is pretty good too. None of these meat alternatives are great compared to meat. But these are by far the closest. Plus, they pulled a Tesla in marketing the product as “beyond eating meat.” Like Tesla making believe we will all be driving swappable-battery powered vehicles. Their story is that to sustain the earth’s population, we need to look beyond eating animals, which is probably true. Just not in this lifetime. Heck, Chipotle convince people that burritos are healthy.
Still, ain’t no way, now how it’s worth what it’s at. Can’t wait to see the multiple.
If pumpkin chains himself to a tree when the bulldozers come, someone please drive by take pictures and post them
Gourd Lane made me laugh too.
Very good!
So let me get this straight.
Uber and Lyft called a strike this morning.
Only nobody was striking, plenty of drivers. Or did more drivers come out hoping they’d be able to game surge pricing because of the lack of drivers.
Either way, don’t think the outcome was as expected.
I still don’t know how anyone can make a living driving Uber. When you factor in the discounts I keep getting from tipping, the company nor the drivers can’t possible make it worthwhile.
A cab from Newark Airport used to cost me $70 with tip. I often get home now for $18 with generous tip.
Back before Uber I did the math and couldn’t figure out how anybody could make money delivering pizzas in their own vehicles. The only thing I could figure is that they were uninsured vehicles.
…or their Mom’s car.
lib I can only assume uber is eating the discounts. I usually pay about $23 without the tip and I live closer to EWR than you, so it’s closer to $30 for a ride to EWR. The nature of that business means that the competition really brings the pricing down, it is super part time work, that many people are taking on so it can fit their schedule. I can’t imagine anyone trying to make a living from it, its a hair better than minimum wage.
The sad thing about a lot of drivers and delivery drivers is that many of the least experienced ones don’t understand how little money they are making because they aren’t counting the depreciation of their car from the activity. They are basically selling their car bit by bit over time to extract cash from it, then wonder why they cannot afford to replace it/fix it when it finally breaks down.
I had a newspaper re-delivery job one college summer, basically delivering the paper to those who called in and complained they didn’t get their paper or that it got thrown in a puddle. I probably didn’t break even after taking car costs into account, but on the other hand it was easy and fun driving around and playing music and it was my first real job I could put on my resume, which at least signaled to future employers that I knew how to show up.
I suspect some of the smarter drivers are making ok money from Uber, even after their costs, but I don’t know what percentage that is.
I read a story about one dirt poor guy in FL, his thought was that in return for driving about 30 hours per week, he would get the use of a car. Because he didn’t own a car at the time and the nearest grocery stores and the place where he sold his blood for cash was about an hour bicycle ride away.
Seems like the main attraction of Uber and the like is the flexible hours. However, to really make good money you have to chase the incentives Uber puts out, which isn’t so flexible.
AA
We are by nature wary of any nitrous oxide-propelled food product, a pressurized canned food prejudice that we blame squarely on one too many corn syrup and artificial flavor-laden Reddi Wip mustaches as kids. And so when it first hit stores a few years ago, we politely ignored the Batter Blaster, a pancake batter that comes in a can and toots its all-natural, organic, really-tastes-like-a-homemade pancake horn (as well as its CO² propulsion mechanism). But when we heard the Austin-based company is debuting three new flavors — chocolate, whole wheat cinnamon-brown sugar and buttermilk — how could we not circle back? Not to worry, canned bacon fans, those bacon pancake rumors aren’t false. A company spokesperson said they have plans to release the bacon version later this year. Source: LA Weekly
Grim, Pumpkin lives directly across the street from it! Based on the street views, topo maps and satellite imagery, I’m inclined to believe the developer could fill and pile the site and build with 40-50% lot coverage, I’ve seen things recently built in Jersey on wetter sites. His proposal probably covers 3/4 an acre with buildings, roads and parking lots. He could easily get 30-40 apartments in with similar coverage. Just saying…….
I learned me a new concept also….. white people lack the “racial stamina” to engage in difficult conversations, which leads to problematic behaviors.
I don’t know why I’m even responding to this nonsense, but I will.
This road used to serve a purpose as a major roadway. Then rt 287 came along and rendered it obsolete. So they started building homes on it during the 90’s and 2000’s. They never changed the speed limit because someone f’ed up and overlooked it. They had to lower it because it was now unsafe based on the amount of homes on the road.
Ever since they lowered the speed limit, people respect it and drive the speed limit. Aka good people in the area.
I love my home and I love where I live. People bashing it must be jealous, that’s my only conclusion.
Expat the dirty renter busting my balls for owing a home…get a life!
“45 mph speed limit, cripes that is a highway, I always thought you guys were exaggerating!”
And where exactly is all the water going to go? Your dad must have been a prick developer based on your attitude towards building.
This is not getting built on, unless it’s a home. That’s the only thing allowed. Can’t even build more than one home on it because that requires building a road and cul-de sac which the architect said is not allowed.
Why do you think this 10 acre lot was bought for only 765,000 in a nice area? Why so cheap? This guy should have knew better. Good lesson for him on the dangers of buying empty land. Most likely there is a reason for it being empty and cheap. Being a “Dr” and having the ego that comes with it, he thought he was smarter than the next guy. Eat it!!
JCer says:
May 8, 2019 at 4:55 pm
Grim, Pumpkin lives directly across the street from it! Based on the street views, topo maps and satellite imagery, I’m inclined to believe the developer could fill and pile the site and build with 40-50% lot coverage, I’ve seen things recently built in Jersey on wetter sites. His proposal probably covers 3/4 an acre with buildings, roads and parking lots. He could easily get 30-40 apartments in with similar coverage. Just saying…….
So, of course the motherfcuking stock had to run to my lower bound and make me work for my money lol.
Still sorting out a bunch of trades from today, I’m no worse off than yesterday, although I did pull one expiration in from the late Fall to the Summer to make the positions work and keep a credit.
Anyway – and please don’t act on this as this stock is one volatile bitch and my portfolio is across a number of options positions and specifically not in the stock directly – I’m still confident.
Quite frankly, and this is not some deep state vampire squid BS, it would not surprise me if GS/MS were driving LYFT shares down ahead of the UBER pricing.
Getting UBER done in the hole kills about five birds with one stone for these securities firms and the only one butt hurt is the client…
Should be fun through at least next Tues…
posted in wrong thread; please anyone else keep me honest!
chicagofinance says:
May 8, 2019 at 5:38 pm
Nomad:
If you are an equity investor, I would keep your focus there. To be clear, in the capital structure, the debt stands in front of equity, so what is bad for debt may or may not be bad for the stock price. You can’t draw the direct conclusion that ratings downgrades are bad, unless it is an indication of a deteriorating core business or foolishly risky capital outlay (stock buybacks at inflated prices?). Those distinctions I think are self-evident and can be evaluated independent of creditworthiness, which I would argue is more of a “latent potential” to be unlocked. Case in point, who gives a sh!t that Stu’s FICO score is 875, he never borrows money anyway, except to refi for the n^24th time.
Just ask some of the other posters on these threads; I am thinking about one in particular with empirical knowledge. Rating it itself is meaningless, except where there is a structural reason that restricts the ability of a company to raise capital when needed. As an example, the main constituent investors of a company’s debt become restricted once IG is removed. Debt’s secondary market spread is the “real” rating.
That said, why is a company BBB/-/+? Is it an ongoing commitment to an optimal capital structure. As an example, Sirius is junk rated, but it somewhat represents a steady state decision. Whereas AT&T has primarily focused on stressing the balance sheet in the face of maintaining a ludicrous dividend that is a vestige from a bygone age. Rating matters if a company’s operations or strategic vision demand that it visit the debt markets from time to time.
As you personally analyze a company, if you see future stress points that suggest windows where the company needs capital, and being locked out of the market is material, yes, I would care.
However, I just had this conversation yesterday when I was in Ithaca. The most important number is ALWAYS the revenue line, and then gross margin. If that is addressed well, the rest of it will fall in line. I appreciate the question, but focus on the debt only if debt is the focus. JMHO
Nomad says:
May 6, 2019 at 8:34 am
Chi,
Read yet another article on the BBB debacle and companies who have the most of it on their balance sheets. Article took aim at InBev, VA, T, ABBV to name a few. Question for you if I might, how do you decide when looking at the above and any others with a lot of BBB rated debt if they really are on the edge in terms of their common stock? Concern is that a lot of this stuff is improperly rated and / or covenant lite. Do you look at simple coverage ratios or do you dig into the debt offerings or have a team member who does? At some point, economy slows and a lot of the “BBB” may not actually be even that good. Thanks,
24 times?
LIAR!
Board happy hour proposed, August 19th in Wayne to coincide with next ping pong application town hall. Wear your Randy Daytona or Feng costume in support. Jam the hall, “No ping pong, no peace”
That would be awesome.
I’m gonna dress up as a ping pong ball. Sort of like this, but in white.
https://i.pinimg.com/originals/ff/93/cf/ff93cf0215d6266c6e1b91315ea720a2.png
So in short, you can’t lose on real estate in North Jersey unless a ping pong center opens up across the street.
I bet Wayne lets him subdivide into 5 or 6 road frontage lots of they deny this application.
BRT: at least it won’t be boring anymore! I like ping pong!
These slides might have some info on lower credit rating companies underperforming higher rated ones. Junk rated stocks are riskier and a default is almost always bad for the company’s stock. But individual cases will vary widely.
http://www.efalken.com/video/chap4/index.html
Seriously, I’d sign up just to play ping pong with random people all day. Kids would probably love it.
You got that right NIMFY, you owe your home. Maybe they’ll change the name to Pumpkin Ping Pong Boulevard.
Expat the dirty renter busting my balls for owing a home…get a life!
Nimfy Buys a Highway House
Once upon a time, there was this pumpkin named Nimfy. Nimfy did not like going to school with the other pumpkins…