From the NJ Department of Labor and Workforce Development:
Company | City | Date | Workforce Affected
| ALUMINUM SHAPES LLC | DELAIR | 9/9/09 | 182 |
| AMERICAN DISTRIBUTION SERVICE | RIDGEFIELD | 5/12/09 | 101 |
| ASCO | FLORHAM PARK | 5/31/09 | 350 |
| CATALENT PHARMA SOLUTIONS LLC | PENNSAUKEN | 5/18/09 | 132 |
| CENVEO | CARLSTADT | 5/18/09 | 46 |
| COLORITE SPECIALTY RESINS | BURLINGTON | 5/6/09 | 53 |
| DRUG FAIR | SOMERSET | 5/16/09 | 129 |
| ELECTROCHEM | TETERBORO | 5/31/09 | 97 |
| FLUOR | MT LAUREL | 5/18/09 | 128 |
| GOLDMAN SACHS | JERSEY CITY | 3/6/09 | 70 |
| KV PHARMACEUTICAL | STATEWIDE | 3/6/09 | 30 |
| PROPAK CORPORATION | BARRINGTON | 4/17/09 | 59 |
| STATE STREET BANK & TRUST | PRINCETON | 6/26/09 | 80 |
| THE CHILDREN’S PLACE SERVICES CO. LLC | SECAUCUS | 6/13/09 | 341 |
| THE HOME DEPOT | PARAMUS | 4/26/09 | 106 |
| THE HOME DEPOT | BRIDGEWATER | 4/26/09 | 99 |
| WOLFBLOCK LLP | STATEWIDE | 5/23/09 | 121 |
BOOYA
….earning that nickname….
http://www.njbia.org/empjun02.htm
[1] chifi
Good. Now Clot can damn you to hell
jim says:
April 6, 2009 at 5:46 pm
148. BC Bob says:
April 6, 2009 at 2:28 pm
“Black never worked in the private sector”
Chi,Your point? How many years has Timmy served in the private sector?
—-
And what about our favorite ‘Community Organizer’? Did he ever ‘work’ in the private sector.
jim: he’s just a fascist…..
I am not concerned about buying. The stumbling block, what happens when I want to sell? Sell to whom?
BC bob, 6
interesting question, have a little treat baking in the oven, should be ready by tomorrow morning…..
BC Bob,
It will turn around, but it will take a long time. Will prices go back up to where they were? Probably not if a lot of those that were lost don’t come back. You’ll be able to sell eventually but it might not be the price you want.
Chi (198, last thread)-
By the time the FBI has an airtight case against the banksters, they may already be dead.
We are going into a crisis 100 times larger than S&L with 20% of the number of FBI agents who were dedicated to financial crimes in 1990. After 9/11, virtually the whole financial crimes team was re-purposed to terrorism.
sx (218, last thread)-
Re: Elizabeth Warren-
“Rooting for her? Yeah she is a fine person. But what exactly is she in a position to do? It is clear no one pays any attention to her.”
No one pays any attention to her? She’s calling for firings of CEOs and an honest basic accounting of where money came from and where it goes.
She’s not being ignored; she’s being stared down by the fraudsters, of both the gubmint and bank variety. This is Joey Zaza facing up with Vincent Corleone. The public grin barely hides the clenched jaw and grinding teeth.
I take Black’s definition of fraud as a good one: it is deceit, pure and simple. You establish trust in a person, and then use that trust to get them to give you something of value…only the thing you give them is actually worthless.
Selling a toxic MBS- that has the imprimatur of a rating agency’s AAA- to even a professional investor- while Congress, the Executive and two patronage-stuffed GSEs cheerlead the whole swindle- is fraud. It is a transaction based 100% upon deceit. Incompetence may be involved on all levels, but the fraud remains, nonetheless.
I’m a Tar Heel born,
I’m a Tar Heel bred;
And when I die,
I’m a Tar Heel dead.
So rah, rah Carolina-lina,
Rah, rah Carolina-lina,
Rah, rah Carolina-lina,
Go to hell, Dook.
Clot [9],
Forget about the FBI. It’s time to get ready for the Spartans. Good Luck!
W did work in da private sector and managed to f’d everything he touched.
HC
just an FYI regarding posting full stories here
http://www.nytimes.com/2009/04/07/business/media/07paper.html?_r=1&hp
to avoid a lawsuit, it’s probably best to take a sentence or two or three and then provide a link.
#11 Oh Clot…. love ya but gotta go with Michigan State tonight. Not my school but it is my conference. However, I do know that God made the sky Carolina blue.
Ratings Agencies getting bailout money?
Connecticut Attorney General Richard Blumenthal is questioning why up to $400 million in federal bailout money is going to the big three credit rating agencies that he says helped create the economic meltdown.
http://www.usatoday.com/money/economy/2009-04-06-credit-rating-agencies-bailout-money_N.htm
“Harvard Derivatives Whiz Fired For Emailing Larry Summers About “Frightening” Trades?”
http://tinyurl.com/cb9ewj
On affordable housing from the last thread.
I think the list of best performing areas would make a good case study.
I think with Midland Park and Oradell, the inventory level has dropped to probably about a third of what it was last year. At the moment Midland Park has 36 properties listed on Realtor.com. About 4 or 5 properties in the sweet spot of mid level Cape Cods go every month. If we now say the the inventory level is 6 months, in the main. WIthout the Inventory drop, the real number would be 18 months. Garfield has high inventory 170, but lot of affordable REO hitting the market. Alpine has a lot of inventory under 1.5mil. That should get some movement in the market.
man, where does everyone go after 5?
SAS
#19 Sas – Too many games on today – Baseball Opening Day, last game of March Madness. We’re all sitting slack-jawed and mesmerized by the magic glowing screen.
“man, where does everyone go after 5?”
To their bookies. A lot of action today. If I lose, I’ll buy a bank. Pay my bookie thru Tarp.
Damn, I look like a bull next to this one. Hat tip to CR for the link!
From CNBC:
Banks’ 1st-Quarter Results May Show Improvement: Whitney
She also said she expected home prices to fall another 30 percent, contrary to some predictions that housing may have bottomed.
“Home prices cannot bottom while liquidity is still contracting from the economy,” she said. She did say that large banks should benefit from low mortgage rates and refinancing.
…
Among the other points Whitney made in the interview:
* Peak to trough levels for home prices will be over 50 percent
Peak to trough levels for home prices will be over 50 percent.
Maybe in Michigan but certainly not in North Jersey.
what a bloodbath in the title game. thanks for showing up in the semis, Connecticut.
Clotpoll says:
April 6, 2009 at 3:05 pm
Everybody knows only short-sellers talk their own book.
Longs are rock-ribbed Americans who have the boldness of vision to see through fraud and insolvency to load up on companies that will end up rewarding them by blasting their equity stake to zero.
If an American throws himself on a grenade to save others, he is a hero.
What does this make someone who buys bank stock?
well done
PBC #18 re Oradell
Don’t know if they knew what they were talking about, but someone told my mother who lives in Oradell, that there were over 20 foreclosures in town…
sas says:
April 6, 2009 at 8:51 pm
man, where does everyone go after 5?
SAS
life, kids, dogs, strip clubs, gym … are you tethered to your computer 24-7?
re #18 PGC – Alpine?
Seems like this 880k house is ideal if you are a very successful crack dealer and want to live it up in Alpine.
http://www.friedbergproperties.com/hybridlistings/detail.cfm?mls_number=2838519
#27 Sean,
What’s the commute time to Newark?
BUT CONSPIRACY TO COMMIT FRAUD?
Clotpoll says:
April 6, 2009 at 7:21 pm
sx (218, last thread)-
Re: Elizabeth Warren-
“Rooting for her? Yeah she is a fine person. But what exactly is she in a position to do? It is clear no one pays any attention to her.”
No one pays any attention to her? She’s calling for firings of CEOs and an honest basic accounting of where money came from and where it goes.
She’s not being ignored; she’s being stared down by the fraudsters, of both the gubmint and bank variety. This is Joey Zaza facing up with Vincent Corleone. The public grin barely hides the clenched jaw and grinding teeth.
I take Black’s definition of fraud as a good one: it is deceit, pure and simple. You establish trust in a person, and then use that trust to get them to give you something of value…only the thing you give them is actually worthless.
Selling a toxic MBS- that has the imprimatur of a rating agency’s AAA- to even a professional investor- while Congress, the Executive and two patronage-stuffed GSEs cheerlead the whole swindle- is fraud. It is a transaction based 100% upon deceit. Incompetence may be involved on all levels, but the fraud remains, nonetheless.
I assume clot is taking tomorrow off…
Just to point out….Black shows up in multiple places within a few days time……why all of a sudden?
That place in alpine is the most unbelievably overpriced pice of crud I have ever seen on this site.
Sean…..good work
Dark and silent last night
I think I might have heard the highway calling
Geese in flight and dogs that bite
Signs that might be omens say I’m going, going…
“grim says:
April 4, 2009 at 1:19 pm
I can show you “distress” sales over the past year that were twice as expensive as these. Properties sold were bargains, even with sales prices near the $10m mark.”
Prove it.
Chi (29)-
BUT CONSPIRACY TO COMMIT FRAUD?
– Maiden Lane gets transferred off the Fed’s books and onto Treasury in a midnight operation.
– AIG used as a conduit for a direct pass-thru of gubmint money, via CDS payouts to Goldman, et al.
– Gubmint toxic clean-up crew consists of the same people who either built the financial bombs (Klink) or stood around slack-jawed while the bombs went off (Timmay).
Shall I continue?
chi (31)-
Dunno. Why does BO show up on TV more often than that fat turd who hosts The Price is Right?
chi (30)-
No days off. For anybody.
Besides, I gotta show up to collect…
Too bad we didn’t get UConn. Woulda beat them down, too.
I hope the first thing I see tomorrow AM is William Black, trying to talk some sense and some outrage into Matt Lauer, or some other upright cadaver.
sas, I was gonna have a Knob Creek and milk for bedtime…but I’m skipping the milk part, ok?
Can somebody tell me if J@ck B@uer has mad cow disease now?
clot 38
it’s not right. Black and the angry mob are going after stupidly innocent bankers. We should protect them from libelous claims
Clot re: fraud and conspiracy.
There are more than enough lawsuits right now to invalidate nearly every CDO and Derivative written and sold during the Housing Bubble.
Some will be dismissed, some settled and some some won depending on jurisdiction and other variables but you can be sure whatever TARP and other monies the banks are hoarding now will be used up defending and settling cases all over the world for a very long time.
The international lawsuit “fun” is just getting started, a salvo of lawsuits was fired by South Korea and other Soverigns who bought participated in these AAA investments. South Korea has favorable courts to the plaintiffs there, the banks are expected to lose big time.
As far as proving a crime and throwing lot of people in jail,RICO might be the best approach after all it was used against Michael Milken.
Grim:
RE:
Car lust time.
///M X5
Please don’t tell us you pulled the trigger on this Brutal Money Waster
I hope you live close to the dealer :) You want to see your car sometimes :)
As for me
I’m drooling on the Hyundai Genesis Coupe
… The US is doing everything possible to avoid these awful realities, but probably the worst self-deception is the idea that everything would be okay if we could just “re-start lending.” That’s just not going to happen. There is no more capacity to service the debt we’ve already piled on. Americans borrowed too much, and the bankers who made obscene fortunes in fees and bonuses in fraudulent lending managed to leverage this unpayable debt into the greatest collective swindle the world has ever known. The swindle has sent poison into every cell of the macro socio-economic organism, and further swindles are unlikely to revive it…
Kunstler this week
Am I the only person who noticed that someone named “Sue” contrived to have the last word on the “March Comp Killer 2” string? am I stuck being the only person who responded to this property pumper?
Clot: Just to set the record straight. In order of preference my favorites are:
1. A good French wine.
2. A good Italian wine.
3. German beer.
4. Distilled Italian and German spirits.
Time of day and order of precedence are negotiable.
Anyone who is expected to be laid off must call me at (856) 985-4168. I will help you rollover your retirement plan.