From the Star Ledger:
N.J. school district officials say Gov. Chris Christie budget cuts will force program, staff cuts
Gov. Chris Christie sent suburban and urban school districts reeling today with the release of district-by-district state aid figures that cut 40-, 50- or even 100 percent of their state aid allotments for the coming year.
The cuts, included in a proposed state budget that would spend $820 million less on public schools next year, were designed to spread the pain around. Each of the state’s nearly 600 districts saw reductions of aid equal to about 5 percent of their current budgets.
But the financial blow fell harder on some districts than others. Many — mostly wealthier suburban districts such as Chatham or Bridgewater-Raritan — saw more than half their state aid disappear. Another 59 districts, including Livingston, Millburn and Berkeley Heights, had all of their aid eliminated.
Urban districts suffered slightly less, as a percentage, but the dollar amounts taken from their budgets, which depend more heavily on state aid, were bigger. Elizabeth lost $14 million; Newark $42.6 million; and Perth Amboy, $7.9 million.
…
The cuts came in what’s known as formula aid, money used for general education expenses. That aid is doled out based on enrollment, with additional money for students who are poor, have special needs or limited English skills.The cuts, the biggest to hit schools in years, came in the $29.3 billion budget Christie proposed Tuesday, a spending plan he said made “incredibly difficult choices” to close a $10.7 billion deficit, but one the governor said is designed to be “the first step on the path to a brighter future.”
…
Many school officials said the aid reduction was larger than they had anticipated and they had not yet determined how they would cope with it. But they predicted programs and staff could be cut.“It will certainly touch teaching positions, office staffing, administrative positions. Teaching positions are 80 percent of budgets, generally speaking,” said Lynne Strickland, executive director of the Garden State Coalition of Schools, which represents 100 suburban districts.
First! What luck :)
From Bloomberg:
Montclair Sees ‘Bludgeoning’ of Schools as Christie Cuts Aid
Montclair, the northern New Jersey town with a median income almost twice the U.S. level, may fire more than 5 percent of its workers because of Governor Chris Christie’s proposed $29.3 billion budget. The Chathams, 15 miles southwest, may lose state funds that could pay for 45 teachers.
Cities and schools across the second-wealthiest state are girding for cuts as the first Republican governor in 12 years reduces spending to close a $10.7 billion deficit. Christie’s budget would lower education aid by $820 million, or 10 percent, and money for municipalities by $445 million, or 23 percent.
“It’s really a bludgeoning of our schools,” said Montclair Mayor Jerry Fried, 52. His town of 37,000 residents will lose 61 percent of the $5.5 million in state money it got for its $110 million school budget. Suburban communities such as Summit, home to Christie’s predecessor, Democrat Jon Corzine, would lose all state funds, summaries yesterday from the state treasury show.
“The only way to deal with it is going to be to cut services or cut staff,” said Fried, who appoints school board members.
Since when is a 3% overall budget cut a “bludgeoning”?
I think someone is being a bit dramatic.
From the Daily Record:
Schools thought they’d prepared for worst; they were wrong
Morris County school officials were expecting cuts in state aid, but not of this magnitude.
More than half of Morris County’s 40 public school districts would see 50 to 100 percent of their state funding disappear in Gov. Chris Christie’s proposed 2011 budget.
Christie’s budget cuts $820 million from school aid, with Morris County losing $63.7 million, a 38 percent cut. This school year, Morris districts had been promised $169 million by the Corzine administration, but had lost $17.8 million already after Christie held back some state aid payments last month. Christie is now proposing Morris schools receive a total of $106 million in state aid for 2010-11.
…
For five districts, that would mean receiving zero state aid under this plan; Hanover Park Regional, Harding, Madison, Mendham and Mountain Lakes. Christie’s hometown, Mendham Township would receive just $2,113 in state aid under this plan.
From the APP:
NJ plans sharp cuts to most school districts
Layoffs of school teachers, administrators and staff throughout the Jersey Shore will be unavoidable in the face of hundreds of millions of dollars in state aid cuts announced Wednesday by the state education department, school officials said.
“More than 80 percent of our budget is payroll and benefits,” said Walter Hrycenko, Brick superintendent. “Some, if not all, of our reductions will have to come from there.”
Large school districts like Brick, Middletown and Toms River lost millions in aid. In Middletown and Englishtown-Manalapan Regional, district officials had planned to lay off 38 teachers before cuts were announced. Further cuts to their budgets would be “devastating,” Middletown’s school Business Administrator Bill Doering said.
That 2.5% property tax cap is meaningless. We will get all kinds of municipal fees to make up the difference.
Driving Up Interest Rates Will Deepen Housing Slump – Stiglitz
There has been no recovery in the US housing market this year, the biggest item of expenditure in the world’s biggest consumer market. New home and previously owned home sales are still falling. House prices continue to fall.
The former World Bank chief economist thinks there is a ’significant risk’ of a double dip recession with growth weakening towards the end of the year.
The US housing market is locked in a deep depression. Mortgage resets over the next couple of years already threaten three to four million more foreclosures that will keep the market depressed and put further pressure on US bank balance sheets.
The Next Wave Of The Housing Crisis: Much More Pain In 2010, 2011
The Federal Reserve recently confirmed that it will no longer make open market purchases of mortgage backed securities after March 31st, and underwater homeowners are definitely going to miss that money. This particular Fed program was one of a number of extraordinary, emergency measures meant to reverse the near meltdown of the U.S. financial system, and through it the Fed pumped nearly $1.25 trillion into the mortgage backed securities market over the past twelve months.
The program was officially intended to lower home-loan mortgage rates, and that’s exactly what it did. Brian Sack, head of the NY Fed’s money market desk, estimated that it lowered rates on agency mortgage backed securities by a full point, and that a separate program targeting government securities lowered rates on the 10 year Treasury by at least half a point. Home mortgage rates dutifully followed suit, dropping from almost 6% to below 4.5% today
Re#3 Since when is 3% a “bludgeoning”
I guess when you are anticipating your entitled
5% increase and instead receive a 3% decrease it can
be a shock. I guess that means they are gonna
shut down the Mandarin Chinese language class,
how devastating!!
And when they lay off teachers the ones with only a few years experience who make 40 to 50k a year will be let go. Meanwhile the cynical, burned out, lazy ones who have been teaching from the same lesson plans for the last 20 years will keep pulling in 100k or more a year while complaining about the hours and how unfair it is they may have to pay 1.5% of their gross towards health benefits and now have a $5 copay.
“A $5.00 copay” NOW THAT IS A BLUDGEONING!!
Now if Christie were a Dem, people would lay into him as being socialist for cutting aid to the affluent districts and keeping some state funding for the less wealthy districts.
For all of you who propose flat taxes, do you feel all the budget cuts should be equal across the board as well?
Gov C has a thankless job with greater challenges than any before him as NJ Gov. Way too early to tell how well he does it.
Rather than having all the foreclosures, why not have a hybrid mortgage: 5 yr int only followed by a 30 yr fixed rate, figure out all the interest rates up front to eliminate the unknown. If you are behind in your payments and need help, this is your option.
In theory, would this not take a lot of the troubled mortgages off the table.
For those than cannot make it even with this new program, throw them out of their house and sell it. With a smaller pool of foreclosures, this path is not as devistating for our economy.
Yes, I know, some people who get the new program will fail to live up to it but the problem gets spread over a longer time period and the # of foreclosures at any one point in time would be lower, thus having a less devistating impact on our economy.
Burn, Christie, burn! Burn the mf-er down!!!
#10
I think we’ll see a lot of 100k teachers heading for the door. Let me get out while the gettin is still good! There has to be a fear among teachers cops… that pension and other benefits are going to change.
#15 – like auto worker buyouts?
gotta love the NY Post
http://www.nypost.com/archives/covers/;jsessionid=68628DB7ED16847186ABB08A2961ABA1
(poor Sandra Bullock)
10…true story.
Memorias del Saqueo, 2010 version. This time, it’s gubmint-sponsored hooligans being sent to the World Cup:
“One of the things occasionally concerning the European press regarding the forthcoming World Cup in South Africa is security measures. Whether England fans, for instance, might get drunk in public places, do something they’ll later regret and wake up in a prison cell the next morning seems to be quite a talking point (albeit less at present than who’s the country’s best third-choice left back).
Hooliganism has been a big problem in Argentina
There’s an arrogance present in this attitude – not to mention a need to sell papers, judging by the fact it only seems to be brought up in opinion pieces when there’s little else sports-wise to grumble about – but one country could actually be set to test the South African security forces’ mettle somewhat more than a bunch of drunk English or German fans. Some countries try to ensure their hooligans don’t travel to matches abroad, you see. In Argentina, that is precisely what they’re encouraging.
The press reaction was a peculiar mix of astonishment and resignation when it first became apparent back in November that a prominent Argentine non-governmental organisation was seeking to help secure funds to allow the country’s barra brava (broadly speaking, ‘hooligan’) groups to travel to the World Cup. What gradually became apparent, though, was that the group wasn’t quite as non-governmental as the designation ‘NGO’ would normally suggest. One of the men behind the idea even admitted, point blank, that the whole exercise was geared towards winning votes.
The story’s been put back on the front pages of Argentina’s sports sections in the last week after a group of leaders of a few of the barras involved called a press conference, apparently to clarify that the project wasn’t instigated by the government and that they’re the ones in control rather than the NGO who’ve been doing the talking. It’s an odd thing to say, given that the rationale behind the deal-makers’ thinking was that the gangs provide very visible support for President Cristina Fernandez de Kirchner’s publicity campaign.”
I wonder if the people who rented this room can get a refund?
“Memphis motel rented room containing decomposing body five times
3/18/2010 6:26 AM
Memphis police never checked inside a motel room where a missing woman had been staying – and where her body was discovered months later on Monday, according to various reports including the Chicago Tribune.
The body of Sony Millbrook was found hidden inside a metal frame beneath a mattress and box spring after the Budget Inn motel had reported a foul odor inside her old room, the story says. The room had been locked for lack of payment the day she went missing, but the motel had since cleaned out her belongings and rented it five times, the story says.
Joseph Scott, Memphis police’s deputy chief of investigative services, said told FoxNews.com that they’ve “never heard of anything like this…It’s stranger than fiction.””
I’m shocked Bernie Madoff couldn’t defend himself in prison
http://online.wsj.com/article/SB10001424052748704743404575128031143424928.html?mod=rss_Today%27s_Most_Popular
as they say in the movies, “night night, keep your butth0le tight”
Ah Memphis,
Detroit on the Mississippi….
This sounds like a good idea…
The Federal Reserve believes it is possible that, ultimately, its operating framework will allow the elimination of minimum reserve requirements, which impose costs and distortions on the banking system.
http://www.federalreserve.gov/newsevents/testimony/bernanke20100210a.htm#fn9
23: Oh good, I feel much better now.
However, we have been working to ensure that we have the tools to reverse, at the appropriate time, the currently very high degree of monetary stimulus. We have full confidence that, when the time comes, we will be ready to do so.
We have full confidence = grab your nut sack and pray
Yikes prev thread:
“Bill Ayers, who was the head of local terror cell responsible for killing
how far up Ru$h Limbaugh’s rear end to you have to go to find that garbage? I’ll give you an ‘A’ for effort but as usual, you’re a fountain of misinformation”
Oh, Sorry Yikes. I forgot Ayers is just a guy who lives in Osama’s neighborhood and every Vietnam vet thinks Ayers and Jane Fonda are heroes. Besides, those cops, judges and 300 military cadets and their dates in Fort Dix NJ deserved death anyway. (The Fort Dix bomb went off accidentally in the Village in NYC when WU was assembling it, killing 3 Ayers buddies).
But hey, who said history can’t be rewritten. Maybe they were just nice citizens drinking tea.
Oh, TEA – MY GOD, THEY WERE TEA BAGGERS!
Now we have establised credible link between tea parties and violence. Over to you, State Media – carry on!
With all of Michigan’s problems, it is good to see the ligislature jumping on this pressing issue (this is from the Det Free Press):
Senate has beef with the meatout
BY CHRIS CHRISTOFF FREE PRESS LANSING BUREAU CHIEF
March 18, 2010 08:14 AM
LANSING — The meatout controversy reignited in the state Senate on Wednesday, where a resolution was passed asking Gov. Jennifer Granholm to rescind her proclamation urging Michiganders to give up meat on Saturday to recognize the benefits of vegetarian diets.
Granholm’s proclamation, as first reported Tuesday on freep.com, stirred outrage from agriculture groups, particularly those representing beef, pork and poultry farmers. The Senate voted 25-12 for the resolution, with three Democrats joining all 22 Republicans in support.
Relo 24:
Yeah, OK the banks are just gonna come running back for that 1.2 trillion dollars in toxic sewage called MBS.
Not.Gonna.Happen
As a matter of fact, I predcit they will be back in the MBS market within 6 months.
sas from yesterday
what you think? should I go with the under counter reverse osmosis system or one of them kitchen tops distallation units for distilled water
Keep in mind that with an RO system for every gallon of “purified” water you make 17-19 gallons will go down the drain.
hype (28)-
Six months? I say six weeks.
Bill Ayers and Jane Fonda re both scummbags who society has dealt with over the years. Whether they were punished enough for their transgressions can be debated but, it is time to move on. I don’t know why anyone in political life would seek their counsel or friendship and I believe that thos who do seek it are diminished but let’s remember, in his old age, even Albert Speer (who likely should have been hanged) was allowed to live out his final years in quiet.
“Keep in mind that with an RO system for every gallon of purified water you make 17-19 gallons will go down the drain”
Unless one can capture that wate water for toilet, washing, and other uses, this is an absurd waste of water.
“Keep in mind that with an RO system for every gallon of purified water you make 17-19 gallons will go down the drain”
I will respectfully ask for a link to back this up. If true, 100% redunk.
Grim – don’t worry about Montclair. Our mayor is going to save us by bringing in investment from China!
Some of the snarky comments (Stu’s included) are great.
Mayor Fried Goes To China
This May, Montclair Mayor Jerry Fried will take a two-week trip to China, hoping to find investors or companies interested in doing business in Montclair. At last night’s council meeting, Fried emphasized that no municipal dollars will be spent to fund the trip, which is organized in conjunction with the New Jersey Economic Development Authority. “The trip to China was explained as an opportunity to introduce Montclair to various business, schools, and arms of government, with the goal of potential business opportunities,” says Councilor Cary Africk.
The China project is just one of the ways Fried says he’s working to insure a sustainable future for Montclair. Fried says he’s been in discussions and meetings with a Nelson Lee of Sunels, Inc. who represents three “smallish” cities in China along with Chinese businesses. “Mr. Lee is pursuing Sister City relationships as well as educational and government exchanges.” Now, the town of Guangrao has invited Fried to visit China (at their expense), to speak at an international business seminar there. Afterwards, he’ll visit other municipalities.
Fried told Baristanet this is a perfect opportunity market Montclair. The Montclair BID is putting materials together for Fried to present in Guangrao and six other cities during his tour. “My goal is to attract different businesses and direct investment in Montclair, such as to the two-acre DCH site. There are opportunities to draw investment dollars to Montclair and a Chinese business could use Montclair as its toe-hold in the U.S.”
Fried said the Chinese are interested in Montclair because of its proximity to New York and Liberty International Airport, Montclair State University, good public transportation, and high quality of life. “They are very attracted by our innovative public schools, and the entrepreneurial culture of Montclair,” says Fried. “I will market Montclair as a “Creative Class” town, with its great university, highly educated and creative population and the growing number of innovative businesses specializing in green development, media and technology.
One of the most ambitious ideas presented by Lee is to create a partnership between the Montclair Public Schools and the Fuling Public Schools in which Fuling High Schools would model their curricula and extra-curricular activities on our high school, providing an American “cultural education” to many Chinese students who are likely to attend colleges and universities in the US. “In my opinion, they want to provide more of a liberal-arts approach that will not only prepare students academically, but also foster creativity,” Fried said.
We asked Councilor Rich Murnick for a comment, and he emailed us the following: “The number one way to battle taxes in Montclair is to raise revenue.. If the Mayor can present Montclair in such a fashion to lure a company from China or NYC to come to Montclair, I support his efforts 100%”
http://www.baristanet.com/2010/03/mayor_fried_goes_to_china.php
So, if all of the school employees agreed to a 5% salary cut, wouldn’t that solve the problem with no layoffs and less impact on the children?
32 & 33
I’ll real that back in a bit. Apparently RO systems have gotten more efficient in the last ten years. When I first started sell residential units in the late 90’s 85-95% waste was the norm. A quick google search tells me they have gotten quite a bit more efficient.
It now takes about 4-5 gallons of tap water to make a gallon of RO water for a standard residential under the counter system.
Grim 2/3 – I think the numbers in the Bloomberg article are wrong. Our state aid was closer to $10M last budget year. We are going to lose around $5M, plus the almost $2M surplus that the district had planned on rolling into this budget year. Probably closer to a 5% impact on the budget rather than 3%. This could still be overcome without massive layoffs if the staff would agree to modest salary cuts and benefit give backs.
But of course the teachers union will insist on moving forward with their scheduled salary increase this year and we will see large layoffs in the junior teacher and staff ranks.
March Madness Is On Us…
Join us for a complimentary afternoon event at New York’s newest midtown pub – Pig ‘n’ Whistle. Enjoy unlimited food and drink in our private room to watch the NCAA Tournament. Drop by for the entire afternoon or just for a quick bite anytime between 12pm-6pm.
This invitation is for you and one co-worker. RSVP required for entrance to this invitation-only event.
Register Today to Reserve Your Spot
Varonis reserves the right to approve and deny event registrants access to the event.
EVENT DETAILS
DATE
Friday, March 19
CITY
New York
LOCATION
Pig ‘n’ Whistle
202 W. 36th St.
TIME
12:00pm-6:00pm
REGISTER TODAY
36.
I’m still a bit scandalized
JJ: the only game worth watching
NCAA Tournament
Friday, March 19, 2010
Game time: 12:30 p.m.
Cornell men’s basketball (#12 seed) faces Temple (#5 seed).
Serenity,
Anyone who wants their kids to learn Chinese can sign up their kids for private saturday or sunday schools run by the Chinese communities in a number of NJ cities. These teachers get low pay for a few hours of work per week, and a whole year costs about $300 per student.
ChiFi,
I did hear a few grumblings in the office where people believed that Cornell could take down Temple. After that, all bets are off.
Slower GPD membranes have a lower use rate. If you’ve got a 50gpd membrane, you’ll have more waste than a 5 or 10gpd membrane. If you need more RO, you’ll be wasting more water.
Also, your water pressure impacts waste as well, so check to see that you aren’t feeding the unit with a pressure that is pushing it out of it’s efficiency range.
RO is a waste base system, but it is very easy to capture the waste.
I use my RO waste for clothes washing. My RI waste line goes right into my washer.
31 Shore: “Whether they were punished enough for their transgressions can be debated but, it is time to move on. ”
They were not punished (Dem President decided to let them off the hook, one reason being that Dem Presidents, via left-wing hero Deep Throat, had carried out secret wiretapping of Ayers and his buddies).
Ayers is not living his life silently as di some Nazi criminals. Instead, he is a significant leader in education sector, in charge of shaping the education system in this country to be in line with his ideology. Also, as he is closely linked to the President of the US, so he is certainly not off limits.
“As a matter of fact, I predict they will be back in the MBS market within 6 months.”
That is my feeling as well. If housing prices show a tendency to decline more steeply (which they will if the ten-year rises), the treasury will certainly print to buy more MBS to save the banks. It could be a win-win for those who waited patiently to buy. You could end up with a significantly lower purchase price and historically low interest rates to boot. Sastry, are you a Republican yet? :P
Also very easy to feed a 55g drum in your backyard for garden watering.
RO wastewater isn’t at all dirty. Heck, it’s gone through sediment and multistage carbon filtration in good units, so it is cleaner than what comes out of a PUR unit.
Talk to George at Air Water Ice for more info, the guy is a water guru.
Barb et al
Regarding RO (actually one of my area’s of expertise, as a janitor anyway)
Reversae Osmosis (RO)water purification is on average see’s an efficeny of 2:1 to 4:1 that is it , on average takes anywhere from 2 to 4 gallons of “dirty” water to make 1 gallon of “clean” water
As an example lets look at one of the GE undersink units:
http://tinyurl.com/yaptqxg
They specify a 4:1 ratio for this unit. On the high side but within normal ranges.
Hughesrep @ 29 said:
“Keep in mind that with an RO system for every gallon of purified water you make 17-19 gallons will go down the drain”
This is wrong! unless you are using RO for desalination or are trying to purify heavily contaminated waste water, the average uRO unit supplied with city grade water will never consume even close to that amount.
Desalination or purification of heavily contaminated water not fit for human consumption using RO can consume significantly more water then the standard 2:1/4:1 range, but we are not proposing that you use an undersink unit for desalination. Besides you would kill the RO membrane in a very short time attempting to purify heavily contaminated water with standard consumer membranes.
Why learn chinese when menus are numbered in their restaurants and they have pictures and they all know what rub and a tug means?
A.West says:
March 18, 2010 at 9:13 am
Serenity,
Anyone who wants their kids to learn Chinese can sign up their kids for private saturday or sunday schools run by the Chinese communities in a number of NJ cities. These teachers get low pay for a few hours of work per week, and a whole year costs about $300 per student.
(12)
Yes the cuts should be equal across all urban and suburban areas. But you can’t do it all at once. Like social security and welfare needs to be ended, but we need to wind it down over several years because of the built up culture of dependency.
Walking Away: Arizona Style
http://www.azcentral.com/news/articles/2010/03/16/20100316homeowners-walk-away-from-mortgages.html?source=nletter-news
Spring fever is in Hoboken, market on fire this week.
http://hudson.fnismls.com/publink/default.aspx?GUID=b3d2e934-6d2f-4727-8c39-78fe12bf9f20&Report=Yes
(35)
That would work except for the parabolic (or exponential) rise in the cost of the benefits… medical and pensions
“NJ plans sharp cuts to most school districts”
How about the teachers union runs few more adds against Chistie and let’s see what happens then.
Re RO
Grim is also correct that the “waste” water is generally cleaner then what comes out of your faucet if you use and RO system that has carbon filter (also called DI) polishers as part of the system.
Stater
I agree with joyce, the problem is far beyond just salaries.
Salaries are not the major issue. The major issue are the benefits and the massively bloated Bureaucracy
SAS
from last night
what you think? should I go with the under counter reverse osmosis system or one of them kitchen tops distallation units for distilled water?
Either RO or distillation will provide clean water. one possible catch with the distillation units is the build up of scale in the boiling chamber of the unit. Mineral and other contaminants can build up and reduce the efficiency of the units over time.
I do not have any experience with household distillation units, only biotech grade units.
Both RO and distillation are equally capable of providing purified water for drinking.
Maybe this is the time to re-examine the whole public school tenure issue. What are the compelling arguments for keeping this system? Could money be saved and quality increased if we ended it?
Something to consider:
I recall someone, the other day, suggesting that the US has a high degree of economic and social mobility. This is the great myth of the US as the “land of opportunity.” Or the myth that if you work hard you can achieve the “American Dream.”
A study was just released that shows that the United States ranks below Denmark, Australia, Norway, Finland, Canada, Sweden, Germany and Spain in terms of economic social mobility.
http://www.oecd.org/dataoecd/17/42/44566315.pdf
bad news for walmart. which is great, because i loathe walmart, and haven’t been to one in about six years.
racism in southern NJ? when the SHTF, use Bucks County denizens will be keep Trenton at bay – as well as Southern NJ. we have enough toothless, clueless idiots in the rest of Pennsyltucky, thank you.
http://www.cnn.com/2010/US/03/17/walmart.racial.remark/
OT question about real estate in NJ.
What do we know about Robbinsville? Schools? Proximity to Philadelphia?
Whine
We need to reassess the entire philosophy. The money should be attached to the child, not the school. If a school system performs poorly enough that they cannot keep students, as the students (and their associated money) move to a different school then said schools should be closed.
Cut the BS with pumping huge amounts of money into urban ghettos assuming money will solve the problems of social degradation and the lack of parental involvement.
Yikes
from your link:
“The incident is being investigated by both law enforcement agencies as a suspected bias intimidation crime,” local authorities said.
Poor taste perhaps, offensive, probably, but a crime?!?!?! Are you kidding me?
Yikes
plenty of toothless hicks in Bucks County
Skeptic,
Look, more recovery:
Caterpillar Inc Reports 3 month dealer statistics;
Dec-Feb sales – filing
– Retail Sales of Machines:
Feb.10 Jan.10 Dec.09
Asia/Pacific DOWN 2% UP 1% DOWN 12%
EAME* DOWN 22% DOWN 35% DOWN 41%
Latin America DOWN 20% DOWN 15% DOWN 24%
ROW* DOWN 15% DOWN 19% DOWN 28%
North America DOWN 30% DOWN 40% DOWN 46%
World DOWN 20% DOWN 27% DOWN 35%
Sales of Reciporcating & Turbine Engines
to Retail Users & OEMS by Business Sector
Feb.10 Jan.10 Dec.09
Electric Power DOWN 26% DOWN 27% DOWN 27%
Industrial DOWN 15% DOWN 22% DOWN 44%
Marine DOWN 23% DOWN 18% DOWN 29%
Petroleum DOWN 47% DOWN 46% DOWN 46%
Total DOWN 33% DOWN 33% DOWN 36%
63 “Poor taste perhaps, offensive, probably, but a crime?!?!?! Are you kidding me?”
but if you publicly blame that white people are poisonining the water supply, you get to become White House Eco-Science Advisor named Van Jones!
That Wal-Mart episode is stupid. Some rogue patron or employee made stupid prank and that’s investigated as a crime? Sounds like a nice excuse to attack Wal-Mart, wouldn’t be surprised to find out that this is done by some anti wal-mart lefty loony, maybe SEIU.
ah, the magic of the wide angle lens….
interior does not match exterior. Observe.
also LOL at price
http://www.realtor.com/realestateandhomes-detail/Montclair-Twp_NJ_07043_1116172077
any doubt about that lens, check out how wide that standard 30 inch oven range is. Looks like its 45 inches.
Barbara says:
March 18, 2010 at 10:02 am
Yikes
plenty of toothless hicks in Bucks County
correct… but probably fewer than any other county in the state. its like we’re the bergen county of PA! minus the overpriced pos capes and the proximity to nyc
That Wal-Mart episode is stupid. Some rogue patron or employee made stupid prank and that’s investigated as a crime? Sounds like a nice excuse to attack Wal-Mart, wouldn’t be surprised to find out that this is done by some anti wal-mart lefty loony, maybe SEIU.
you are like the 10 year old soccer player who can only kick the ball. no moves, no ability, just kick. stand and kick.
anytime challenged with something, your move is to sidestep it and bring the topic to something else – conspiracy, dems, BO, etc.
the topic was textbooks in Texas and you’re on to a different tangent seconds later. is it fear that causes this? or just that you never have a reasonable, logical argument, so you fall back on the only move you know, attacking your 5-6 talking points?
Last
70 Yikes: You brought up textbook issue and it was logical to point out that the media-education-democrat complex in this country is led by ultra far left ideology, by men like Bill Ayers, and the establishment textbooks reflect the values he advocates – so common-sense textbooks reflecting american values just makes sense.
To paraphrase Bill Ayers: “Guilty as hell, free as a bird, what a great country”. But don’t anybody dare to suggest that Ayers was guilty.
Now what are the odds that Wal-Mart incident was carried out by some KKK-worshipping racist, vs some teenager prankster or left-wing loony?
Significant majority of well-publized open racist slurs and attacks have turned out to be framed (this seems to be especially true in academia where some African-American Studies professor “finds’ racial slurs on her door or car).
Bucks is like BC, except the taxes.
and we don’t have the low lifes pretenders
[15]
Agreed. One goal is to push out expensive deadwood.
I live in one of the towns that lost all aid (little Silver) since now were free of receiving our own state income tax money back in the form of “aid ” do we lose our mandates as well ? do I still have to pay STATE INCOME TAXES AT ALL ?
About teacher tenure:
At the public school level, as opposed to colleges where “academic freedom” is a greater factor, tenure prevents teachers from being fired by political hacks, or nut cases on school boards who get a bee in their underwear over some issue, or just plain discriminatory reasons.
Since the wholesale adoption of collective bargaining for teachers (are there any public school teachers in NJ who are not covered by a union contract?) certain aspects of their job is regulated by K and the othwr portion by the Commissioner of Education. If one fails to pay a teacher appropriately, he or she can arbitrate the issue. If one fires or demotes a teacher, he or she qppeals to the Commissioner of Education.
NY has a process by which tenure decisions and teacher discipline goes to a special panel of arbitrators (the 3020-A) panel.
It is possible to envision a system in NJ were teachers who are NOT covered by a collective bargaining agreement continue to appeal to the Cimmissioner of Ed and those who do appeal to arbitration — using the just cause standard od review.
It can take years to move through the Commissioner of Ed process at a cost of a hundred thousand dollars or more, whereas arbitration can be completed in months at a fraction of the cost.
I suspect that issues of “competence” will continue to got to the Commissioner but dismissals for poor performance (as demonstrated by evaluations) and for behavior could go to arbitration.
Barb (61):
“What do we know about Robbinsville? Schools? Proximity to Philadelphia?”
I know that the voters there voted against the construction of a new 35 million dollar school.
Green Shoots:
Shipping Market Worst Since World War II, Fisher Says (Update1)
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By Alaric Nightingale
March 16 (Bloomberg) — The world shipping market is mired in its biggest slump since World War II, said James Fisher & Sons Plc, a U.K. hauler of oil products.
“This is the worst shipping recession since the war,” Chairman Tim Harris said today in a telephone interview. He spoke after the Barrow-in-Furness, England-based company reported little-changed annual profit. Prospects for a rebound at its shipping unit hinge on the timing of any increase in industrial output in northwest Europe, Harris said.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aioysOhsU3dg
Tax news of the day: Synopsis of the HIRE Act tax provisions.
“Major Tax Provisions in the HIRE Act
The Hiring Incentives to Restore Employment (HIRE) Act (H.R. 2847) contains $18.6 billion in tax provisions, including:
• payroll tax forgiveness for employers hiring individuals who have been unemployed for at least 60 days, beginning Feb. 3, 2010, and ending Dec. 31, 2010, and an additional income tax credit up to $1,000 for employers, equal to 6.2 percent of paid wages for every new employee retained for 52 weeks;
• extension of higher limits for Section 179 small business expensing through 2010, allowing small businesses to deduct up to $250,000 from taxable income, but the value is decreased by the amount by which the cost of qualifying property placed in service exceeds $800,000; and
• expansion of the Build America Bonds program to allow issuers of other qualified tax credit bonds used for construction of schools and energy-related projects to receive refundable credits. The bonds provide a direct subsidy of 65 percent of the interest payment to the bond issuer instead of the bond holder.
To pay for those tax breaks, the bill:
• would impose a 30 percent withholding penalty on foreign financial institutions that do not agree to disclose their U.S. account holders to the Internal Revenue Service;
• would require taxpayers to disclose their foreign accounts on their U.S. tax returns;
• would increase the statute of limitations to six years for failure to report certain offshore transactions and income;
• would clarify when a foreign trust is considered to have a U.S. beneficiary;
• would treat substitute dividend and dividend equivalent payments to foreign persons as dividends for purposes of U.S. withholding;
• would delay implementation of a law that would allow for simpler accounting of worldwide interest allocation until 2021; and
• would increase corporate estimated tax payments for corporations with at least $1 billion in assets for the third quarters of 2014, 2015, and 2019.”
[75] speedkills
Little Silver should insist on the following:
1. Disband its police and demand state police coverage. In the alternative, direct police to more forcefully enforce traffic laws, particularly on major thruways.
2. If police are allowed to issue carry permits (not sure, anyone know?), give police new “guidelines” on what passes so that Little Silver residents can arm up.
3. Bill state for cost of compliance with other state mandates, such as reporting requirements. If the state doesn’t pay, the state doesn’t get the reports.
Re: School funding cuts
I love how the analyses use the percentage cut of state aid (86%, 100%!) rather than the percent of the total budget being cut, which by my calculations is about 5% or so.
I have a simple solution. How about everyone employed by a school district takes a 5% pay cut, and we’ll also make due with 5% less supplies?
Wouldn’t be noticeable….
“extension of higher limits for Section 179 ”
Amen! It may be time to buy an office someplace warm. Perhaps a mobile office (one with a steel hull, twin screws, water maker, good gen set, and capable of getting to the USVI etc. for business).
Nom,
In most counties in NJ, it would be possible to have a county-wide police force. Onc chief, one SWAT Team, etc. The duplication of “toys” is amazing. I would be willing to bet we would see improved skills and performance and better overall service too.
Has anyone here looked at a high school course list lately? There are so many classes listed that may be nice to provide, but which are not necessary.
[82] shore
There are some small biz provisions in the pipeline that may also be beneficial, especially one that makes gains on certain small biz stock held for 5 years tax free.
Will likely apply only to C corps, but may also apply to LLCs.
Issue will be with the defining language, but there is a possiblity of using this as a way to shelter built in gains on things like rental property. I suspect that treas. regs. will exclude such opportunities, but stay tuned.
[83] shore,
not so sure that they’d be responsive or effective. Union County has police and they do nothing but soak up tax bucks.
I think it is a good idea for more rural counties, like Sussex, combined with liberal attitudes on the right to carry.
This is interesting (comes via an ASCAP newsletter):
raging stats over the weekend.
SXSW: Disposable Social Network LoKast Shrinks World to 300 Feet
Like a combination of sneakernet and a file sharing network, NearVerse’s free LoKast iPhone app creates tiny social networks out of 300-foot zones so that users can meet each other, chat with each other, and download each others’ shared photos, videos, music, contacts and website URLs. When they walk away from each other, the network essentially disappears – poof – which is why NearVerse calls this “the first disposable social network.”
Shore,
So right about teacher tenure in k-12.
The basic fact is this: teacher productivity and experience gains most likely max out at 5-10 yrs experience. If it was a group of parents just hiring someone to educate their kids, they would basically be indifferent between one with 10yrs experience and 20 yrs experience – at that point they (the customer) would mostly care about knowledge, teaching style, etc. Similar to chefs – unless you cook at the fanciest restaurants or do something very creative, there’s a cap on the market value of the job that doesn’t go up with time. Basically the government and unions have put up barricades between customer and teacher, such that beginning teachers are likely underpaid, while experienced teachers are overpaid.
Like most union arrangements, the system is set up to protect the “lifers” from the up and comers.
Education is a profession like any other, not a priesthood. Some are good, some are not, but the current system basically blocks the market process of rewarding the best teachers, punishing the worst, responding to market demands, etc.
Again, the government near-monopoly on education has got to be broken. It’s for the kids, for crying out loud.
Nom,
Some of the counties in upstate NY do it this way. Every town pays for the co cops and if they want their own too, they can tax their residents for it but most choose not to.
I suspect that a dispassionate group, intent on maintaining a high quality of education (or improving a low quality that currently exists) could go line by line in any number of school districts and find 15% or more that could be cut without diminishing the kids’ basic education or prospects for excelling on SAT or other tests.
That racist WalMart remark reminds me of a prank I used to pull in high school. To make ends meet, I used to work in the automotive department at K-Mart. To frame up the story, it was 1986ish and making fun of K-Mart was all the rage. To be caught shopping there would immediately lower your coolness factor by 50 basis points. Well whenever I spied a classmate in the store, I would immediately make an announcement over the PA emphasizing their name and repeating it as often as possible. Oh the looks on their faces were fantastic.
To help defray college costs, I worked at Kay-Bee Toy & Hobby at the Willowbrook Mall. We used to pass time by standing at the front of the store with Magna-Doodles in our hands. Anytime a female would walk by the store, we would each judge them Olympic-style by writing a number from 1 to 10 on the Magna Doodle and then would hold them up for everyone to see. As our store was located right near the center courtyard of the mall, the laughter that was garnered by the resting shoppers was immeasurable.
Man I wish I was young again.
Re [67];
Somebody help me out with things like this. Who does the listing agent think they’re fooling? Gussying up a listing may increase traffic, but the at what cost? A misrepresentation can’t increase the likelihood of sale or sale price – the buyer has to see the actual property, right?
I try to have faith that even the most pliable homebuyer isn’t going to spend $675k on the consideration that “Well, it doesn’t look anything like the pictures, but we drove all the way out here, so let’s buy it anyway.”
Then again, I remember reading a story in the WP back in ’05 about a young couple who just bought their first home in the MD suburbs of DC. They LOVED their new home. Of course it was vastly more expensive than they wanted to spend (but creative financing helped, nach); it was older than they wanted; it was smaller than they wanted; the property was smaller than they wanted; it didn’t have a garage, or a pool, or the space to build either; it was further out from their jobs than they wanted; it wasn’t as conveneint to the Metro as they wanted. I put the story down and asked myself: exactly what about this purchase did they LOVE? Maybe they needed their expectations recalibrated to market, but I suppose now they’re just glad they didn’t get “priced out forever”. HEH™
Libtard 91
Thats sexual intimidation and a CRIME!!!! Onto the s3x offender watch list for you sir!!!!
On a related note, I was walking through the store the other day with my 2 yr old son. He points at a VERY large lady, perhaps 300lb or so and says “Daddy, is that a fattie?” is a rather loud voice and clearly audible to the people around us including the large lady.
There were a number of chuckles. And no, i do not know where he heard that term used. But +5 for using it in proper context.
“borat obama”
lol. glad to see thiss guy is back.
SAS
NOOOOO< it cant be!!!
March 17 (Bloomberg) — China is in the midst of “the greatest bubble in history,” said James Rickards, former general counsel of hedge fund Long-Term Capital Management LP.
The Chinese central bank’s balance sheet resembles that of a hedge fund buying dollars and short-selling the yuan, said Rickards, now the senior managing director for market intelligence at McLean, Virginia-based consulting firm Omnis Inc.
“As I see it, it is the greatest bubble in history with the most massive misallocation of wealth,” Rickards said at the Asset Allocation Summit Asia 2010 organized by Terrapinn Pte in Hong Kong yesterday. China “is a bubble waiting to burst.”
http://www.bloomberg.com/apps/news?pid=20601087&sid=aNZe4JWeV1aw
“What do we know about Robbinsville? Schools? Proximity to Philadelphia?”
I live there Barb,
Its the town that i always complain about prices not coming down enough.
and yes Libtard, we voted down the new school referendum last week.
Its about halfway between philly and nyc. west windsor and hamilton train stations are both 10 minutes down the road.
I like the town a lot.
Take a look at ‘Town Center’ and let me know what you think.
Stu,
The only people who would be freaked out by what you did lacked true “coolness” anyway. The essence of “cool” is plotting one’s own course and not in following the course set by others. Those who mimic “cool” in the hopes of becoming “cool” are doing the exact opposite of “cool.”
Barbara 67 – I am LMAO.
“Spacious and immaculate NY-Metro Style raised ranch in desirable Upper Montclair neighborhood.”
Yes 1890 SF does = spacious!
This is not the funny part of the story. The owner of the house is our rat bast*rd of a former town manager. He just retired from service (I believe the town had to pay him some sort of severance even though he “retired”).
Anyways, even though Joe H was making 6 figures in salary (and I believe his wife also has a 6 figure public job with another town), his original contract also gave him a mortgage subsidy because he could not “afford” to live in Montclair. Keep in mind his contract did not require that he do so. In addition to the subsidy, his contracta also had the provision that the town cover any future loss when he sold the property.
Now I know that the mortgage subsidy was removed from his contract (there was an uproar over this, so I think the council took it out and gave him a raise), but it is possible that the loss coverage provision is still valid.
This property was purchased in 2006 for $727k. I’ll bet if the town is still covering the loss someone will be able to pick up a nice lowball on this beautiful “NY-Metro Style raised ranch”.
Oh and taxes on this beauty were actually 17,100 last year.
“Those who mimic “cool” in the hopes of becoming “cool” are doing the exact opposite of “cool.””
I wrote my Hebrew school thesis (if you could call it that) on this exact topic.
Cool is buying Maxim, looking at the models and emulating them in your clothes purchasing decisions. In other words, cool is being a sheep. I suppose the nerd is the collie in this situation. I suppose I was the nerd collie.
Children by millions sing for Alex Chilton.
This sucks.
NEW ORLEANS (AP) – Singer and guitarist Alex Chilton, who topped the charts as a teen with “The Letter” and later became a cult hero with Big Star, died Wednesday. He was 59.
Chilton died at a hospital in New Orleans after experiencing what appeared to be heart problems, said his longtime friend John Fry.
Chilton was the gravel-voiced teenage singer for the pop-soul outfit the Box Tops, whose 1967 hit “The Letter” opened with the line “Gimme a ticket for an aeroplane …” Their other hits were “Soul Deep” and “Cry Like a Baby.” Chilton grew up in Memphis, Tenn., and formed the band with friends from school.
“Alex was an amazingly talented person, not just as a musician and vocalist and a songwriter, but he was intelligent and well read and interested in a wide number of music genres,” said Fry, the owner of Memphis-based Ardent Studios.
Chilton’s short run with Big Star brought less mainstream success but made him a cult hero to other rock musicians, as evidenced by the title of the 1987 Replacements song, “Alex Chilton.” Big Star’s three 1970s albums all earned spots on Rolling Stone magazine’s list of the 500 greatest.
“reminds me of a prank I used to pull in high school.”
Libtard, i like it.
Home Depot was a blast in my hs years. They had the loud speaker phones all over the store. “clean up in electricity”, “Need help in paint – we’re getting mobbed”,
and then you can listen in on the chatter and pick up the boss’s and worker’s names and thats when it got really fun. “Cindy this is john (her boss) please meet me in the conference room – this is not going to be a good meeting.”
In HS, stuff like that could just never get old.
“VERY large lady, perhaps 300lb or so and says Daddy, is that a fattie?”
This actually gets to a larger issue. There are some people who are fat, some who are stupid, some who c&n’t jump, etc. In some cases people caused their own “condition” and in others they were born that way. While I recognize the benefit of politeness and not saying things to insult or hurt another person, it seems that we have a bit overboard with respect to having to watch what we say.
Recently, I heard someone chide another for calling this one guy “black.” The offended (very white woman) said “call him African American, that is the correct term.” The other party said, “He is not American.” To which the woman said, “It doesn’t matter, that is the term.” To which the guy said, “He isn’t even African, he is from Australia.” The woman then shot back, “it is still wrong and you know it.”
What do othere here think about these two folks and who was wrong?
I just call ’em all brothas. You’ll never be wrong and it works wonders for your street cred.
The Letter
Great straight-ahead Rock and Roll song.
Shore
When is that inconsiderate woman going to respect MY culture, in which people of very dark skin tone are called “black”, just as people with very light skin tone are called “white”.
I am sick of the disrespect and the constant demand that i adjust my culture to her ways simply because it makes her more comfortable.
shore (105)-
He wrote it when he was 15. You should check out Big Star (if you haven’t already). Puts the Box Tops stuff to shame.
The Box Tops were actually a studio/agent creation. A producer, PR machine and manager created the whole thing, a la Backstreet Boys. You can still find fat 60 y/o singers all over the US doing “Box Tops” revival shows; the name has been sold and re-sold countless times.
I thought pig and whistle was on 47th? I used to work a block from there.
Shore,
I might also suggest that a white guy who recently immigrated from south africa is also “african-american”
Shore (103)-
Nigga can’t get a break.
There is a pig and whistle on every other corner in nyc.
Reading up on that NJ chick who was the fattest mom in history – she is a model on Supersizedbombshells.com (I haven’t checked it out). News story says it took 30 physicians to facilitate her child’s birth via caesarean. I can imagine that this was NJ taxpayer dollars at work – maybe they used a road crew to shovel out the fat. My bet is that the husband has a big life insurance contract on her.
What Veto said
I’ll be at the Molly Wee tonight before the Ranger game, they’ll probably still be cleaninig up after yesterday. nothing like warm beer, and the smell of urine
Look, if someone wants to be HUGE like that, so be it. That said. society should not have to pay for any aspect of that choice When she has a stroke, let her pay out of pocket; when she is out of money, send her home to her understanding husband. Motorcyclists who don’t want to wear a helmet? Don’t! But when they crash and have head injuries, don’t treat them unless they have the cash to do so.
.
A West
http://assets.nydailynews.com/img/2010/03/18/alg_donna_simpson.jpg
…She’s the one int he center in case there is any confusion.
[109] hyde
I recall a case where a South African transplant to the US applied to Harvard, and listed his ethnicity as AA. Harvard admitted him, and may have given him a scholarship.
When they got one look, they tried to unadmit him. Said he lied on his app.
He said no, that he is an african that moved to the US. Fact that he was white didn’t change fact that he was from Africa. A conservative foundation backed him and lawyered him up.
Eventually they settled and Harvard paid his way to go somewhere else (Stanford, I think).
” warm beer, and the smell of urine”
Ahh, fraternity-scented air freshners, from Air-Wick. They are such a cutting edge company.
Nom,
Apparently not an isolated case..
…Consider a story out of Omaha last week. According to the Omaha World-Herald, several students at Westside High School were punished after they “plastered the school on Monday” — Martin Luther King Day — “with posters advocating that a white student from South Africa receive the `Distinguished African American Student Award’ next year.” The posters featured a picture of junior Trevor Richards, whose family moved to Omaha from Johannesburg in 1998, smiling and giving a thumbs-up.
…“White African-American” Sues N.J. Medical School
By Chelsea-Badeau
Sat, 16 May 2009 02:02:59 GMT
Can a white person be an African-American? Paulo Serodio, a 45-year-old naturalized American of Portugese heritage born in Mozambique, says yes. He is suing the University of Medicine and Dentistry of New Jersey for discrimination that he says led to his suspension.
He told ABCNews.com that his instructor, Dr. Kathy Ann Duncan, asked the students for self-definitions during a discussion on culture and medicine. Serodio identified himself as a “white African-American.” He says Duncan later told him never to refer to himself as that again, because it was “offensive” to others in the class.
Serodio said that he made a similar reference in another class and also wrote an article in the student newspaper titled, “A More Colorful View Than Black and White.” He says these actions led to harassment from other students and ultimately his suspension for unprofessional conduct.
“I wouldn’t wish this to my worst enemy,” Serodio said. “I’m not exaggerating. This has destroyed my life, my career.”
While Serodio’s suit, which asks for reinstatement at the school and monetary damages, is bringing new attention to the meaning of the term “African-American,” it’s not a new debate.
Picked up lunch at that Union strip mall I like to talk about so much. Two more victims added. Mandee’s and the remaining party supply store. I would put their vacancy at 40% now, only because Shoprite and Best Buy have a lot of SF.
Also heard an interesting interview on Bloomberg discussing the PIGS and what should be done with the Grecian situation. It appears the Eurozone must decide if Greece is too big to fail. If they do bail them out, then the other three will line up at the trough. Sure sounds a lot like the securitization bailout that we f’ed up on.
[118] Hyde
Apparently, “white african american” has been banned from the Newspeak dictionary.
Poor Winston Smith. He must not be getting any sleep with all the history the liberals are making him revise.
kettle– just as easy to find positive stories (from the WSJ)
***********
FedEx Corp. said its fiscal third-quarter profit more than doubled, as rising global trade volume offset a loss at the company’s domestic trucking unit.
The package shipper also raised its 2010 earnings guidance alongside higher capital expenditure for the airline freight unit, whose performance drove the improvement in the latest quarter.
Chairman and Chief Executive Fred Smith said during a conference call Thursday that the global economic recovery is broadening, with rising business from China, the U.K. and Canada driving a 62% year-to-year rise in the company’s International Priority shipments.
Domestic U.S. package volume rose 1% in the quarter, and average shipment weight, seen as a barometer of economic recovery, also increased.
Mr. Smith said FedEx expects strong business conditions through June followed by steady growth, but added that he remains cautious about the U.S. housing market because bank credit still isn’t flowing freely.
As long as we don’t support people like Gallo (or her NJ equivalents), we can’t expect any change.
“Central Falls, Rhode Island (CNN) — Superintendent Frances Gallo combed the classrooms of embattled Central Falls High School. Teachers and students were gone for the day. Gallo was hunting for a particular item: an effigy of President Obama.
She hoped the rumor of its existence wasn’t true.
Gallo had fired all the high school teachers just a month earlier, igniting an educational maelstrom in Rhode Island’s smallest and poorest community while winning praise from the president.
The teachers union lampooned her; hate mail flooded her inbox. For weeks, she’d prayed every morning for the soul of the man who wrote: “I wish cancer on your children and their children and that you live long enough to see them die.”
/snip
Personally, if I were in RI, I’d file a FOIA request to get Gallo’s emails, and try to find out who sent that last choice comment.
Hey, there’s an idea.
We paid 12% premium in Social Security benefits (6% employee + 6% employer).Say one makes $100,000 a year,that is $12,000 a year paid in premium.$120,000 in 10 years.The government wants to run our retirement benefits let it be.Don’t tell me it has to end.The benefit ones get,if retired at the full benefit and life span of 10 years after retirement,don’t equal to the premium put in.
***Like social security and welfare needs to be ended, but we need to wind it down over several years because of the built up culture of dependency
“Personally, if I were in RI, I’d file a FOIA request to get Gallo’s emails, and try to find out who sent that last choice comment.”
Why Nom is that illegal to hope or wish someone or their family members get cancer?
I can’t help to think the NJ has waged war on small business owners like myself. Everytime I turn around there’s another new fee, increase in permit/license, or tax.
This state sucks.
If I build a deck it will be made of Ipe wood. Just got back from my favorite beach where the homeowner has steps leading to the sand. They’ve been there for 10 years and the last three steps have been submerged several times this winter and they still look like new.
Robert Morris is taking it to Villanova….
NJ Coast. Just build the decking out of old tires. They last forever.
Here is whats happenining with 23 yr old condos in my town.
Sold
feb 2010 – $235k
dec 2005 – 238k
feb 2001 – 125k
oct 1997 – 95k
http://www.zillow.com/homedetails/368-Andover-Pl-368-Robbinsville-NJ-08691/52628170_zpid/
Rep. Michael Arcuri (D-NY), a sophomore Dem who had a tougher-than-expected re-election bid in ’08, has told the Dem caucus he will vote against the bill.
F#ck Face Pelosi is calling for a vote by Sunday. Im skeptical.
Time to dump some Federal Reserve Notes and pick up some metal.
President O NCAA 2010 Bracket pick
http://www.whitehouse.gov/files/images/NCAA-POTUS-Picks-2010.jpg
Skeptic,
Did you notice sean’s post at 78?
March 16 (Bloomberg) — The world shipping market is mired in its biggest slump since World War II, said James Fisher & Sons Plc, a U.K. hauler of oil products.
I hope i am dead wrong. But the preponderance of evidence suggests otherwise. Besides would you expect every single aspect to be down?
Sean’s article does offer an interesting response to the Fedex claims of global shipping increasing.
Skep,
Also keep in mind that FedEx is picking up where the brick and mortar’s are dropping off. It also hopes that a major competitor of theirs is the floundering US Postal Service.
Hyde– all depends on how you want to read it. UK hauler of oil products says global shipping is in a slump, FedEx says global shipping is accelerating rapidly (even in the UK).
Skep…You could also point to Chipotle Mexican Grill as a sign that the recession over. Their earnings increased only 89% year over year. Of course, they were the only restaurant in the field of 17 to even do well.
“Rep. Michael Arcuri (D-NY), a sophomore Dem who had a tougher-than-expected re-election bid in ‘08, has told the Dem caucus he will vote against the bill. ”
My old district. Surprising that he made it in at all given the demographics and voting history. Nevertheless, took the district by nearly 10 percentage points, mostly on backlash against Bush. Cheney came to town to campaign for the Republican candidate, I think the candidate spent the entire time avoiding photo ops with him.
Arcuri’s claim to fame – he was a ‘client’ of Spitzers call girl too.
He votes for healthcare, he’s toast in upstate NY.
ok, all you geeks and geekettes
I need to buy a laptop as a back-up. My desktop is past 4 years, and it has to go to the shop for either a new power supply or fan – heating up, making noise.
Since I cannot be computerless for more than 5 minutes without going into withdrawal, what would be a good but still cheap laptop?
I get the drift that HP is better than Dell.
I want good sound for playing music, and Dell apparently s*cks on that score.
Recommendations?
[137] left
So do we run campaign slogans referring to “Client No. 10”?
[132] yo
He may be in early trouble (as are we all). ‘Nova down by 6 at the half.
Acer if you know what you’re doing.
HP if you don’t.
MacBook if you REALLY REALLY don’t.
Scribe rent one from rent a center for a month
[125] veto
It isn’t. But it sucks, and I would make an effort to put a name and face with that comment.
Yome
SS is a tax not a retirement plan. Courts have ruled you have inherent right to claim SS, there have been numerous court cases backing this up. i am sure Nom can elaborate on that.
on top of that the full 12% is being paid by you. Do you really think that an employer doesn’t adjust your compensation down by that same 12%?
And SS has gotten much top heavier then it ever was before:
Percentage of Population Surviving from Age 21 to Age 65
men Women
1940 53.9 60.6
1950 56.2 65.5
1960 60.1 71.3
1970 63.7 76.9
1980 67.8 80.9
1990 72.3 83.6
Percent of Americans Over Age 65
1940 6.81%
1950 8.39%
1960 9.59%
1970 10.28%
1980 11.52%
1990 12.83%
2000 12.40%
So we have doubled (100% increase) the percentage of americans eligible for SS and we have seen the # of americans who will survive to utilize SS increase by about 30%
Just had lunch with a Sr. MD at GS. Here are some sound bytes.
The people who say it is different this time always say it is different this time. Don’t listen.
Rates will go up, not quick but yes they will. Companies are locking in long term debt now as the debt will look very cheap 5 years from now.
The US economy is very resilient, this ain’t France. People will keep having kids, those kids needs jobs and places to live. Don’t bet against the USA long term.
There is an extremely large amount of IPOs in pipeline. People who are skitish on sidelines as they lost money in market will watch IPOs like CBOE and Primerica make people lots of money. They will be forced to jump back in to try to re-coup losses or stay on sidelines. Most will jump back in, ADV’s will rise and IPOs will bring lots of new revenue and capital to everyone involved.
GS even has a white paper I think called “It is not different this time”.
I know you guys are still crying over spilled milk, but when I talk to an Eight figure Sr. MD at GS one on one who has seen it all and ain’t selling me nothing, he ain’t lying. I am not important enough to lie to.
Scribe,
I have had a LOT computers and have the following observations.
Dell is fine for high-end workstations. where they have dedicated support, but a disaster otherwise.
HP laptops are solid performers but the fit-and-finish can be uneven quality.
Locally-built desktops with all top-shelf components are the best, as long as you can deal with shops being closed at times when you have questions or need assistance of some sort.
Sony Vaio is top notch. I never had a single issue with this line.
As for a throwaway computer, the Acer Aspire does a fine job (it has limitations due to processor speed) but it is a computer you can take anywhere and not care if it gets lost or stolen (as long as you documents are on a flash drive).
on top of that the full 12% is being paid by you. Do you really think that an employer doesn’t adjust your compensation down by that same 12%?
Exactly!You can call it tax,you can call it benefit at the end it is my money.
John, you are raining on the parade of doom and gloom crowd.
Donna Simpson has been reported to be the heaviest woman to give birth in the world, and has applied for a Guinness World Record in that category. She is also attempting to attain a weight of 1,000 pounds.[1][2] When she gave birth by cesarean section in 2007, she weighed 530 pounds. The delivery required the assistance of 30 hospital staff.[2]
In 2010 at the age of 42, Simpson was living in New Jersey, and was eating 12,000 calories per day in a deliberate attempt to gain enough weight to reach 1,000 pounds. Her $750 weekly food bill was being funded by a website where men pay money so they can watch her eat.[2] As of March 2010, she weighed 600 pounds.[3] She is 5 feet 4 inches tall.[4]
Despite getting around on a mobility scooter, Simpson claims that she is healthy.[5]
Simpson’s favorite food is sushi.[1]
“I would make an effort to put a name and face with that comment.”
definately. Too bad you couldn’t put the real reason on the foia request, which would be, “because i want to take a baseball bat to their knees.”
Chifi,
Go Red.
“The people who say it is different this time always say it is different this time. Don’t listen.”
John, your post at 145 is better and more hillarious than any of your bond of the days or four-paragraph college fraternity stories. and that is saying a lot because those are great posts.
Do you realize how upset people here get when you tell them the world isn’t ending. Talk about ruining someone’s day. half of these people are counting bullets, looking forward to dec 2012 as if its christmas morning.
And you just took that away from them ion one fell swoop. lol, i love it.
Shore #103,
If your kid called a fat person, “fattie”, would your response be short of admonishing the kid (not on the spot, but later on)?
S
Shore – This is the district where my cloth-diapering, baby-wearing, homeschooling relatives reside. I can vouch for what leftwing is saying here. Crazy cousin had a blog post that Obama’s healthcare plan woulf force her to vaccinate her children and have a pitocin induction that would lead to a cesearean section instead of a natural drug-free midwife birth.
leftwing says:
March 18, 2010 at 1:29 pm
“Rep. Michael Arcuri (D-NY), a sophomore Dem who had a tougher-than-expected re-election bid in ‘08, has told the Dem caucus he will vote against the bill. ”
My old district. Surprising that he made it in at all given the demographics and voting history. Nevertheless, took the district by nearly 10 percentage points, mostly on backlash against Bush. Cheney came to town to campaign for the Republican candidate, I think the candidate spent the entire time avoiding photo ops with him.
Arcuri’s claim to fame – he was a ‘client’ of Spitzers call girl too.
He votes for healthcare, he’s toast in upstate NY.
Veto,
Aside from Clot, I don’t know that anyone here WANTS the economy to decline. It is just, as with lifeboats on a cruise ship or fire insurance on a house, many of us believe it is prudent to make some reasonable preperations for disaster.
Thanks all for the laptop suggestions.
I hadn’t thought about Acer or Sony or renting one for a month.
Will check out all those options.
Shore #155,
I am picturing Clot as a warlord in a wild west style US, “ruling the mountain regions and caves in the rockies”.
I doubt that Clot *wants* a decline — more like he thinks there will be a decline.
S
“I don’t know that anyone here WANTS the economy to decline.”
shore, im not saying anyone wants it.
But many have gotten themselves so committed to the negative outcome prediction that they now want to be vindicated and ‘proven right’.
Its natural to feel that way. The negative people arent crazy for being negative. Its justified because were and still are in a vulnarable spot. its not over just because the S&P is 40% higher. I realize that.
But ive noticed the deviation from reality here increasing, like others have mentioned. And in some instances its becoming a huge desperate stretch to keep the hope of total collapse alive.
Heck there are even posters who warn of comets crashing to earth, and instead of receiving a proper lambasting, people here are actually coaxed into thinking “yeah, maybe that comet scenario is going to cause the treasury default, ww3 scenario everyone is talking about…. yes this is all making sense now.”
I too was very negative a year or two back, but i think it takes just as perceptive of a person to see the signs of stability.
I didnt mean to offend anyone who is a doom sayer. I just thought it was funny how john comes blasting in being really really positive as usual. And in this case i actually do believe in what was discussed at his luncheon conversation.
#156 Scribe, have you thought about getting another desktop? Really cheap ones with faster processors and small form factors.
You can get some current prices (desktops and laptops) on some of the “deals” sites [edealinfo.com or techbargains.com].
S
I think energy prices are one of the main things that need to be watched carefully. We can double dip if oil spikes and gas prices breach $4/gal.
#138
I recently got a Toshiba laptop and am pretty happy with it. I previously had a Thinkpad, but decided the extra cost wasn’t worth it this time. Toshiba was around $700 I think.
160 – thats plausible but with the demand slack, whats the catalyst for that?
So are you saying your kid is fat. In Psch 101 it is always the other persons problem. If it is that 1,000 pound jersey chick I would say boooyaaa.
sastry says:
March 18, 2010 at 1:54 pm
Shore #103,
If your kid called a fat person, “fattie”, would your response be short of admonishing the kid (not on the spot, but later on)?
S
162- global economic growth = catalyst. Chinese are buying cars at the same level or greater than that of US. add India, and other emerging markets.
Sastry,
I would immediately correct Little Shore and if the person against heard the comments, I would apologize to them and habe LS do the same.
That incident just reminded me of how much eggshell walking we do, and it seems like it is out of control.
I heard someone talking about his “curvey wife.” When I heard that I pictured a woman shaped like a 1940s pinup. In she walks and she was just plain obese, fat, whatever you want to say. She was not curvey, unless one sees a basketball as curvey, she was not overweight, or chunky, she was orca fat. Should someone make fun of her? Of course not. As a general rule, folks should not go around trying to make other people feel sad. That said, she was plain fat and if someone had to identify her in a room filled with people, describing her that way is not some offense against God or nature.
When I was in college in the midwest, where country music was all the rage as was chewing tobacco, I had more in common with teammates from urban areas who were far darker complected than I and I preferred going to their parties. Now, I was usually one of theonly guys there that looked at all like I do and if someone were looking forme and someone said, oh, he is the white guy over there, it would have been fine by me. If they greeted me at the door with, “Hey white boy” and a handshake, I am fime with that. If thy said, “Hey white buy what are you doing here, we don’t like your kind,” well, that would have been different. Intent is important and we need to get over our oversensitivity to unintended slights.
Sastry,
Sorry, i did not admonish my son, he was a 2 yr old asking an innocent question. he wasn’t attempting to ridicule anyone.
Scribe,
If al you are doing is listening to music, surfing the net, and word processing, any computer that runs a current OS will work fine.
Computing power has so outpaced program demands, except for gaming, that you sould be fine with anything.
Ket,
Intent is really the key.
#158
no surprise that I totally agree with Veto. Also, I am no where close to being a BSD, but what I am seeing in my job matches exactly with what John’s lunch buddy says. Just remember that a lot of people thought the world was coming to an end in 2001-02 (dot com collapse, Enron, Worldcom, SarbOx backlash), but then things ramped up again very quickly.
nje,
perfectly possible i guess.
But wouldn’t the benefits that would accompany such robust em growth at least partially offset higher energy prices?
Im thinking higher em growth, even though coupled with energy price spikes, would be one of the more mild scenarios.
but i dont know. im just being over-skeptical because there are so many unkowns and variables.
sastry,
my current desktop is still fine, and will be good for a while.
4+ years, and it’s just that the power supply or the fan is going – heavy daily usage.
so I thought I’d get a laptop as a back-up and then I could also use it at conferences and while away from home
get another desktop later when this one finally becomes obsolete
shore,
re dell support
I recently had an OS crash for the first time. Apparently, what happened, I logged off and Microsoft was still downloading updates when I hit the power switch to turn it off.
Dell has post-warranty tech support – $129. Best money I ever spent. I was on the phone for 45 minutes with this nice girl in the Philippines who ran me through all sorts of commands to restore it. I had the CD, but hit an obstacle relatively quickly in the restoration process.
Definitely first rate support.
skep,
My brother says my niece has a Toshiba and it’s good.
“people thought the world was coming to an end in 2001-02 (dot com collapse, Enron, Worldcom, SarbOx backlash), but then things ramped up again very quickly”
What were the corporate debt levels, government debt levels, nd personal debt levels a decade ago? Also, what was the status of India as well as of China then? The world has changed a lot in a short time.
“Acer if you know what you’re doing.”
Running Snow Lepoard as a HackMac
170, v, just seems everytime there’s a significant run-up in energy prices, we end up in the soup. and us consumer is still way over-leveraged.
#266 Ket
Just like little Fabian pointing to the wheelchair and saying “I want to be in a wheelchair when I grow up”
You are right, it is not a time to admonish, it is a teaching moment.
The end is nigh….
Man accused of urinating on women in Jersey City
Last Updated: 11:56 AM, March 18, 2010
Police in Jersey City have arrested an ex-con they say has been urinating on women at a bus stop in Journal Square, a source said Wednesday.
Nitinkumar Patel, 27, has urinated on at least seven women in the last three months, a law enforcement source said.
He was caught Wednesday morning while urinating on a 16-year-old girl at the bus stop, a law enforcement source said.
Two victims have identified Patel, the source said.
He spent almost six years in prison for aggravated assault convictions, according to the New Jersey Department of Corrections. Patel was released in January 2009.
Gator[154];
Your in-laws sound like “Crunchy Cons” – named for the granola-eating wing of conservative thought.
See,
http://www.npr.org/templates/story/story.php?storyId=5256754
Snow Lepoard. I just can’t get used to the sound of that OS. At some point Apple is going to have to switch to a new animal family.
Skep,
For the record, I’m up 7% in my 401k since I went long another 25%. (Now 75% long) Many of you here told me to wait a while longer. Unfortunately, if fundamentals don’t change significantly through the upcoming earnings season (finally one with a tougher year over year comparison), I will melt out around 11,000 on the DJIA.
yeah I think 2 yrs old is too young, I woulds have mildly corrected and even then, a 2 yr old won’t totally get it. My 6 yr old has known for a few years that you do not ever make fun of people’s bodies in any way. So far he’s good about it.
njescape, yes i agree wit that. energy price spike def wouldnt be a good thing for any of us but if energy prices are going up with demand, then there is hope for a small amount of inflation.
And just a little bit of inflation will do wonders for america’s balance sheet. (private and public sector a like)
thats on reason im quite upbeat about the debt. give us 4-6% inflation and we’ll have wiggled it all down by 40-60% in ten years by doing nothing.
To johns point, thats prob why we are piling it on so heavily at this point in time.
#174
corporate debt levels are not as bad as one might think due to the fact that much of the corporate debt issued during the boom was covenant lite and had things like PIK toggles. also, since the high yield market opened up, people have been furiously refinacing and pushing out maturities.
Remember Moose. Conservative always begins with cons.
#177 Fabius Maximus,
Is your new handle based on Hannibal’s nemesis, Caesar’s general, or something else?
Scribe,
Swapping out a powersupply and fan is relatively easy and cheap. It may be worth doing on a proactive basis. I have a few Dell workstations that were top-of-the-line when I got them. They were NT boxes. By today’s standards they are less than netbooks in terms of power. I have them running XP and serving as scanning/internet access/woerd processing stations and they do a fine job for those purposes, even though they are 10 years old.
I would be reluctant to run a computer with an iffy power supply and also unwilling to put such a machine out to pasture when the fix is cheap and easy.
what do you do when the 3 yr old cries that she doesnt want to kiss grandma’s mustache?
A) Use teaching moment to tell the child that telling a woman she has a mustache is not nice.
B) pretend you didnt hear it
C) laugh out loud uncontrollably
D) other
182, v, i hope your assessments are correct.
shore,
I tried to take it into Staples on Monday, but they said it would take 2 – 3 days just to run the diagnostics. They have a backlog. So, I brought it back home, and my thinking now is that since I intend to buy a laptop anyway, maybe I should do that first before taking this one in.
The repair itself should be fast, even if they have to order a part from Dell.
It’s more the wait to get to the front of the line.
morris vs nova what a game!!
“what do you do when the 3 yr old cries that she doesnt want to kiss grandma’s mustache?”
A) Use teaching moment to tell the child that telling a woman she has a mustache is not nice.
B) pretend you didnt hear it
C) laugh out loud uncontrollably
D) other
combo of A and D. D being a bribe “if you just do it and never complain, I’ll let you have a treat/cartoon whtever, later.
I identify because since I was a kid I have personal space issues and do not like to feel “forced” to being physically affectionate. I don’t require it of my kids either.
You guys are making me miss the days when I would take my little 90 year old Granny (who came over from Ireland by herself when she was 12) out to eat, or anywhere for that matter. Anytime she saw an overweight person she would say, “now will you look at that fat thing over there”… and never quietly, she was old, in shape, raised 5 kids on her own with no money, and did not care. She had no patience for the lazy.
I miss her.
[150] veto
Baseball bat? No, not my style. Sufficient that the entire world knows him or her for the azzhole that they are.
Course, I have no skin in that game, so its easy for me to say that.
If Gallo was my spouse, then yeah, baseball bat. Or better yet, M0l0tov c0c-ktail through the front window.
Interesting Letter to the Editor in the Montclair Times:
http://www.northjersey.com/news/opinions/letters/88328482_Letter_to_the_Editor__Out_of_money.html
#185 Safe
Thats the one. Very relevent for todays world and especially in here.
Anyone smell Elephant Sh1t?
#166…
I was just trying to draw a distinction between “overly PC” and “common sense manners” — using Shore’s example of “PC gone wild”. Not commenting on your experience.
My 2 yr old (will be 3 soon) also picks up some bad phrases from day care and also some from us (may be more from us). Usually, we try to teach some basic manners, but in our case, this saying applies: “kids end up mimicking their parents despite the parents’ best efforts to teach the kids proper manners”.
One “egg shells” area is when I explain to my kid why she is not allowed to have some foods but it is ok for other kids to have them (vegetarian diet versus general day-care food with multiple options).
Scribe, #189:
Bring it to the next GTG, someone will be able to diagnose it and may be fix it too (if they know some stores that sell parts).
S
[195] fabius
Yes, but it isn’t nearly as overpowering as the rank smell from the jackasses. ;-)
#187 Veto
d) pony up for Electrolysis
B-b-b-but what about the rule of law???
“WASHINGTON – A controversial policy that gives U.S. forces in Afghanistan four days to question detainees is being changed to give soldiers more time to interrogate the captives, Gen. David Petraeus said Tuesday.
Petraeus told the Senate Armed Services Committee that American troops will now be able to hold detainees for up to 14 days before either releasing them or turning them over to the Afghan government. In some cases, longer detention will be an option, he said. . . .”
Does Obama know about this??? I thought we weren’t going to treat people this way, but extend american constitutional protections to anyone we come up against???
re: #145 – John Senior MD? Must have been one of those posers from Fixed Income parroting Jim Krammer.
Cumon I spoke to a partner who said the sky was blue and the ocean was deep, I was so mesmerized I ran out and bought a couple of junk tranches since housing it is going to come roaring back like just like the 90s Dot Com IPOs. What kind of pep talk was that MD selling you anyway babies and the French? Look the French have a longer life expectancy and no women intentionally trying to break 500 kilograms, and we don’t need babies born here since are more fence jumping Mexican beans coming in that will more than replace the current populace.
Listen, if you are gonna get wood John it ain’t going to be over IPOs. All the IPOs in the world haven’t kept the NASDAQ from trading sideways for the last decade and it ain’t gonna do jack in the next decade either.
“D being a bribe “if you just do it and never complain, I’ll let you have a treat/cartoon whtever, later.”‘
Barb, when said grandma is the in-laws, i bribe the baby with chocolate milk to repeat it really loud in the middle of dinner.
John says:
“If it is that 1,000 pound jersey chick I would say boooyaaa.”
Reminds me of some movie quote. Paraphrasing in geek speak, “the likelihood of the 1,000 pound chick losing 850 pounds is substantially higher than the likelihood of a measurable change in an a.. hole”!
#198 Nom
Are you trying to say that the Plebs smell?
(124)
You don’t know how the system works… with a comment like that.
veto that says:
March 18, 2010 at 3:06 pm
“what do you do when the 3 yr old cries that she doesnt want to kiss grandma’s mustache?”
Ask grandma to shave mustache?
Extra Credit:
Ask grandma to *please* shave mustache?
S
Our 4-year old is fixated on death these days. I wonder what the heck the influence was that caused this latest fad?
Perhaps the sea monkeys someone bought him for his birthday last year were not that ideal. A few weeks ago, out of the blue he blurts out, “Nana says that there is no afterlife.”
202 Veto
hehe whats with all these women and their facial hair issues?
#199 Maximum. sorry, didn’t notice. You beat me to the punch line.
S
re: #206 – My granny just turned 97, she still drives to the supermarket and church and lives alone in a nice little cape style home in the Midwest. Scrubs the floors by hand, keeps her home spotless does all her own cooking and baking. She does her own gardening, and still makes Christmas dinner for the whole family. I bet she could probably kick everyone on this blog’s ass here in crossword puzzles and guzzling Canadian club. No mustache either, the woman still goes to the salon.
“whats with all these women and their facial hair issues?”
dont know barb. the hormones in the milk/meat maybe?
But my next trick is to teach correct form in pulling down santa’s beard when checking for authenticity – so im really hoping that doesnt have unintended side effects.
210 – leave it to the Midwesterners to be able to tough it out. Good for her! I know women in their early 50’s that complain about walking up one flight of stairs!
Reading a ML research report and they show a survey with all the major banks’ 10-yr treas forecast going out through 4th qtr 2010.
John’s lunch discussion seems accurate.
Median is 4.62% while some banks like MS are expecting 5.5%.
nice. Bring on the 7-8% mortgages!
207.
“Our 4-year old is fixated on death these days. I wonder what the heck the influence was that caused this latest fad?
Perhaps the sea monkeys someone bought him for his birthday last year were not that ideal. A few weeks ago, out of the blue he blurts out, “Nana says that there is no afterlife.”
So is our 6 yr old, started at about 4 1/2 or so. We are now getting a lot of “you and daddy aren’t old are you?” Gets to me, esp when several people around me are dealing with cancer, just a little older than me. But they say its a natural phase for kids.
Both my nephews and my best friends kid are into talking death too. 4-6 yr old range, seems common.
Juice box first few good IPOs out of gate in next few months are easy money. Call your broker, pucker up and swallow hard to make sure you are in. First few big ones will be the money makers than suckers jump on on lower quality ones and lose shirts.
I was in the bronx at that age and we were always talking bout popping a cap in someones ass in kindergarten. It is pretty normal.
Doyle says:
March 18, 2010 at 4:15 pm
Both my nephews and my best friends kid are into talking death too. 4-6 yr old range, seems common.
State aid numbers by district
http://www.state.nj.us/education/stateaid/1011/StateAidPresentlyAllocabletoDistrict2011.xls
Who’s Hurt—and Who’s Not—by $3 Gas
GASOLINE, GAS, SCHORK, CONSUMER SPENDING, RETAIL SALES, ECONOMY, ECONOMIC STIMULUS, OIL, ENERGY
Posted By: Christina Cheddar Berk | News Editor
CNBC.com | 18 Mar 2010 | 01:35 PM ET
Even though the peak driving season is still months away, gasoline prices have been creeping to their highest level since October 2008, and it looks like consumers should brace themselves for higher prices at the gas pump this summer.
“Three dollars a gallon is a virtual done deal,” said Stephen Schork, editor of the Schork Report, in an interview on CNBC.
The steep climb in crude oil prices, which are hovering at around $80 a barrel right now — double last year’s price at this time — have not fully trickled down to the prices consumers are paying for gasoline or diesel, Schork said.
“That means one of two things: Either crude oil has to fall between now and the Fourth of July, or we need to see a significant rally in pump prices between now and July,” Schork said.
The nationwide average has hit $2.799 per gallon, a penny higher than Wednesday, according to AAA, Wright Express and Oil Price Information Service. That means prices have jumped 18.9 cents in the past month and are 87.9 cents higher than year-ago levels. Back on Oct. 23, 2008, prices averaged $2.8215 per gallon.
Schork isn’t alone in thinking that pump prices will average more than $3 a gallon by the summer, the Energy Department and many other analysts are saying price could top $3 soon.
Round Earth Capital Chief Investment Officer John Kilduff recently told CNBC that he expects gasoline prices to average at least $3.10 a gallon this summer. What’s more, he sees that level as an important tipping point in the mind of consumers, who are still reeling from the weak economy and high levels of unemployment.
“Psychologically, it’s going to be horrendous,” Kilduff said. He added that he thinks creeping gasoline prices, which have already pushed prices above $3 in some communities, are already eroding consumer confidence.
However, Jason Schenker, president and chief economist at Prestige Economics, disagrees. He expects that while $3 a gallon gas may change the behavior of lower-income consumers, it won’t impact others unless prices climb above the $4-mark.
The good news is, Schenker doesn’t expect that to happen. Rather, he suspects economic forces aren’t there to support $4 a gallon gasoline.
Richard Hastings, a consumer strategist at Global Hunter Securities, also thinks consumers will not be hurt uniformly by higher gas prices.
According to Hastings, the situation now is much different than in past oil price spikes. For one thing, technology has created more home-based businesses and jobs that allow for telecommuting. This reduces the dependancy of consumers on driving to get to their jobs.
Still, lower-income consumers—and the businesses that rely on those consumers—will be vulnerable to the higher prices, he said.
This has already shown up in trends at Wal-Mart Stores , which is highly exposed to shoppers with lower incomes.
He also suspects certain regions of the country are more at risk than others because they have higher rates of unemployment and more exposure to the still-weak construction industry. Those regions would include the West Coast, Southeast and the Industrial Belt of the Midwest.
The National Resources Defense Council, a national environmental action organization, recently did an analysis of the states most vulnerable to high oil prices, ranking states by the percentage of income that the average driver spent on gasoline. (To see the top ten states, click through our slideshow.)
Their analysis also assessed how states would fare if gasoline prices spiked to their 2008 peak levels. This assessment showed that the average driver in Mississipi would spend about 11.07 percent of his or her income on gasoline. In Montana, the percentage was about 10.5 percent.
“We have already been seeing prices ticking upward and we are still in the spring, this augers poorly for what’s coming,” said Deron Lovaas, the transportation expert at the NRDC.
Demand for gasoline tends to be weaker this time of year, and ramps up as the summer weather increases the number of people travelling on vacations.
According to Kilduff, gasolines supplies are being limited by the refining industry, which is operating at only about 80 percent of its capacity. If this situation does not change, it will become more difficult for refiners to keep up with demand if more consumers hit the road.
Lovaas said he believes the problem rests in consumers having very limited alternatives to gasoline. In many areas, public transportation is scarce.
That’s another reason why consumers in some states fare better than others—they have more options as well as more income.
According to NRDC, the ten states least vulnerable to high gas prices (from most to least) are: Florida, Washington, Pennsylvania, New Jersey, Colorado, New Hampshire, Maryland, Massachusetts, New York and the least vulnerable Connecticut.
More from Consumer Nation: Smartphones: Not Just for the Young and Hip St. Patrick’s Day—Not as Beer-Centric as You Might Think Consumers to Spend More on Easter Questions? Comments? Email us at consumernation@cnbc.com
© 2010 CNBC.com
URL: http://www.cnbc.com/id/35915009/
John – the IPO for the Express Store in the Mall ain’t gonna do jack, and neither are any of the REITs.
Wake me up when Verizon wireless is back on the calendar.
would not touch verizon with ten foot ball. what you need are buyers of ipo who send business to company heavily before and after IPO who are not going to pump and dump.
Been a while…
Doyle says:
March 18, 2010 at 4:15 pm
Both my nephews and my best friends kid are into talking death too. 4-6 yr old range, seems common.
My oldest turned 4 and started to bring the subject up too. This is dead, that is dead. I think it started when we pointed out a dead rat to him and told him to stay away from it.
John #221: Is Verizon Wireless IPO more like a slow drain that ATT Wireless was about ten years ago?
S
John (145)-
Typical of someone at GS to talk up the other side of the trade.
These “eight-figure guys” are also the ones who couldn’t see it coming, either.
No sale here. These days have way too much in common with the 1930s for anyone to be comfortable.
IPOs?? IPOs???
Bwahahahahahahahahahaha!!!!!
For the life of me, I can’t imagine what would happen if my agents or anyone in my business found out I did drugs.
In MLB, I guess this is OK, though.
Just another piece of proof that baseball is a dying, degenerate sport.
Tom Hicks is also a horse’s ass. Never forget that this retard nearly destroyed one of the premier sports franchises in the world (Liverpool FC) that could pack their stadium even if they lost every game.
The fun begins- I just found out that the teachers in Fair Lawn are picketing all over town. I am not sure which issue(s) they are picketing over. All I know is that in my field offering salaries are down 20 to 30% and you are lucky to get a permanent job with benefits. Sympathy, I have none.
HW 227,
Tell me about it. No sympathy from me. Ever been to Newark Mayor’s office? I worked for a developer for a little bit once and the overpaid deadweight there is unbelievable. So many commissions in Essex County it is ridiculous. Whatever happened to “Government for the people and by the people”? I think the by got replaced with my.
the revolution has begun ! …Obama effigy hung at RI school with fired teachers..http://www.app.com/article/20100318/NEWS06/100318074/Obama-effigy-hung-at-RI-school-with-fired-teachers
Fess Parker dead!
man, that’s the pits.
SAS
Thanks, Doom. Looks like some people are blowing the dust off their “Dow at 14,000” party hats. IPOs? Venture capital? Did we not just get destroyed on those speculations less than a decade ago? Pure nonsense. There is a class struggle going on right now and the GS MD would never see it. Let’s hope municipal bks stoke the fire of middle class rebellion. First stop – the GS MD’s estate in Greenwich.
U.S Schools in ‘Category 5’ Budget Crisis
http://www.msnbc.msn.com/id/35883971/ns/us_news-education/
Phew,
Glad the economic crisis is over. Now for the revolution/civil war/WW3/false flag events.
The timeline has advanced.
Everyone can come out of their bunkers now and watch the fireworks. Its gonna get real interesting.
Effective April 16, Walgreens drugstores across the state won’t take any new Medicaid patients, saying that filling their prescriptions is a money-losing proposition — the latest development in an ongoing dispute over Medicaid reimbursement.
Muhahahaha! More austerity. I love it.
http://seattletimes.nwsource.com/html/localnews/2011367936_walgreens18m.html
“Blunt and unapologetic about the consequences of his cuts, Gov. Chris Christie hit the road Wednesday to peddle his first state budget.
In a Bayonne firehouse, a series of television interviews and a meeting with The Star-Ledger editorial board, Christie made his case for immediate and dramatic changes to the size and cost of government and the pay and benefits of public employees.
He said an $820 million reduction in aid to school districts will force them to choose between “givebacks or layoffs” for teachers and other employees. He took on their union with relish, saying the “800-pound gorilla” New Jersey Education Association will also face a choice: “Do they want to lose members or do they want to reopen contracts?”
“This is it. We’re in the middle of a crisis, I’ve got everyone’s attention, this is the moment to fix it,” the governor said. “My view is, I’m a Republican who’s been elected in New Jersey. If I play along the margins and don’t try to fix these problems, then I didn’t deserve to be elected in the first place … I’m going to fix it or I’m going down trying.”
A day after proposing a $29.3 billion budget balanced with widespread cuts instead of tax increases, Christie predicted the final budget lawmakers must agree to by July 1 will be “very close” to his plan. But he stressed he will not raise taxes on the wealthy or businesses to offset about $1 billion in other cuts that ruling Democratic legislators say unfairly hit the poor and middle class.
“I don’t care. I don’t care about this rhetoric. They send it to my desk, it’s coming back,” Christie said.”
Grim,
Moderation, please.
[204] fabe
No, just their politics.
[234] al,
You know, as this picks up, the state’s will react by going after the pharmacies, notably by trying to bypass them and get scrips filled elsewhere, or by leaning on them.
Problem there becomes one of bypass. If they tell Medco, agree to fill our scrips at a loss or else, Medco can tell them to pound sand. If the state then tries to interdict Medco’s other business in Washington, by passing a law to require any co. providing drugs to its residents to also write medicare scrips, that is inviting litigation as an interference with interstate commerce. Insurance commissioners did that with auto because insurance is exempt, but it did bite Mass. and NJ when the insurers said they would no longer write auto policies. The states first tried to go it alone, then eventually caved because rates were high.
The pharmacies here have the upper hand. They can wait out the state.
I have no doubt that the state will also lean on Walgreen’s licenses, but that is risky as it invites litigation.
staying alive is not affordable. That’s not rhetorical, its just true.
I caught you a delicious bass.
As regressive as CC’s strategy appears to be, I don’t think we benefit by taxing businesses any more than we already do. If you think paying higher tolls and transit costs are regressive, just wait until you lose your job when your employer leaves the state due to higher taxes. I also don’t feel we should raise taxes on the wealthy, but we should close the many loopholes that exist that allow them to pay less in taxes than their middle class brethren.
plg says:
March 17, 2010 at 4:04 pm
In other words, if you are born in Glen Ridge I would say you success rate is virtually gauranteed to be higher than if you are born in Newark.
nobody would argue this.
ok, back to basketball. ill read the other 200 comments later
clot, you see this sick Clint Dempsey goal today?
amazing chip. ridiculous
http://www.youtube.com/watch?v=5t6UA8qdI94
Chifi,
Didn’t CU play today? Do you know what happened?
The pension and health insurance program for public employees is completely broken. It is crippling our state by increasing our property taxes and forcing us to make cuts on education which will haunt us for years to come. New Jersey employee benefits for public employees is going to bankrupt our state unless we take action now. I absolutely agree that employees should contribute to their pension and health insurance. BUT, that’s not the only answer. We need to pay our public employees, especially teachers, higher salaries. We need to pay them more in the short term to reduce our long term debt. We should institute a 401k retirement plan system for public employees so they can contribute and manage for their own retirement. Our political leaders need to have the vision to pay more now to pay less later. Hopefully they get the message.
Green Shoots!!!!!! Finally some good news.
Cheryl Cole wants to date a flabby guy with a pot belly.
http://www.smh.com.au/lifestyle/people/cheryl-cole-abs-aint-fab-20100319-qj49.html
40.chicagofinance says:
March 18, 2010 at 9:10 am
JJ: the only game worth watching
NCAA Tournament
Friday, March 19, 2010
Game time: 12:30 p.m.
Cornell men’s basketball (#12 seed) faces Temple (#5 seed).
245.
Alan,
Pediatricians can barely make 100k a year and thats treating 40 patients a day year round.
Why should a public (tit sucking) teacher spewing communist UN rhetoric deserve more money for working 9 months out of the year?
In my opinion they are overpaid and over appreciated. Lets face the facts. Most of these public school teachers rarely have any real life experience and their view of the world is construction paper and plastic unicorns.
If anything I would privatize the whole shabang and let the best teachers compete for the highest paying jobs in the best schools.
Public schools are destructive to this country. Improvements in education are necessary and simple. Teach the kids the truth not propaganda and let schools compete for kids.
Chifi, thanks. For some reason I thought it was today.
I wonder if Moosewood is making a special dish for lunch.
Al,
I do not agree that public schools are hurting the country. They play (or at least should play) an important role in ensuring that every citizen has at least a certain level of education; however, in our quest to make them all things to all people we have allowed too many compromises and far too many students do not get a sound basic education.
Al “The Thermostat” Gore,
too harsh on teachers. many have backs against wall due to red tape bureaucracy & non-involved brain dead parents.
Privatize? I’m against that too.
I believe what & how we teach kids is more important. Time to get rid of the industrialized ladder system of teaching kids. trying to teach only one task and to do it with “efficiecy” is outdated.
that is why I always say… your MBA is an outdated.
Better of learning how to plow a field, going for a jog, and getting your triglycerides down to a reasonable number.
SAS
“Pediatricians can barely make 100k a year”
They need a better union.
health care debate
ha ha.. someone’s blowing smoke in your face, while the troop levels & back door funneling gets ratched up a notch.
let it wag little doggie.
SAS
Physicians of the world unite?
SAS,
Funny you say that. With the Speaker taking the greater role in ramming the healthcare bill down our throat, BO need not be physically in DC for the vote. He can work the phones as well on AF1 as he can in the WH.
So, I got wondering why he might put off a trip to stay in DC and began wondering whether he might be making an as-yet-unannounced address from the Oval.
“Physicians of the world unite?”
to over prescribed drugs, do unnecessary medical tests & surgeries to collect fees to drive a BMW at the expense of your mother’s & daughter’s health.
also, throw in free office supplies, sushi & pizza lunches, and so called “conferences” in Hawaii.
SAS
the “unnecessary medical tests” argument does not resonate with me. I was a victim of lack of testing and went undiagnosed for years. My MIL died from lack of testing, girlfriend currently has advanced cancer that could have been cured were she taken seriously and, wait for it…..tested…same goes for my father and sister in law.
in fact we’ve already done this: give drs financial incentive to NOT order tests. They were called HMOS (remember the 80s?) and people did not like them.
I doubt we are going to strike Iran this weekend and the only other thing that would seem to merit a presidential address from the Oval is the death or capture of UBL. I wonder if we finally have good intel on where he is and are planning to grab/kill him.
If we do, I bet the healthcare bill passes easily in a rush of adulation for BO.
“if we finally have good intel on where he is and are planning to grab/kill him.”
he’s been long gone.
we just need a boogie man.
SAS
“Why A Salad Costs More Than A Big Mac”
http://consumerist.com/2010/03/why-a-salad-costs-more-than-a-big-mac.html
SAS
If people want high survival rates for cancer then there is no avoiding screening tests.
Shore,
Al Qaeda is a CIA invention to perpetuate an agenda of American hedgemony in the Middle East. It took me 8 years of lies for me to realize that. The antiwar protestors were right and I was for the war.
Interesting thoughts on UBL capture. Certainly plausible but it would make the war in Afghanistan a little bit harder to swallow.
I dont see an attack on Iran this year either unless Israel goes alone. 1.5-2 years is a more likely timeframe.
” unless Israel goes alone”
This is always a worry. We want them to “go it alone” when we want them to, not when we don’t. Given the distances and the fact that we own the airspace they would need to cross to get to Iran, they can’t currently send in planes without our knowing in advance. The other option is a first strike with special weapons but I don’t see that right now.
I get the sense that our dustup over the housing units on the West Bank was as much a brush-back pitch to emphasize to Israel that we don’t want them to act outside well-understood limits.
We project “pi$$ed off” and it may help constrain military planners who have an eye on Iran.
Looks like the recall of Senator Menendez is gaining momentum.
1.3 million signatures petition signatures needed. They dont seem to be available yet.
Menendez is screwed in 2012 and Lautenberg at 86 wont be running again.
#264 Al
Great. We can have corzine again
Shore Guy says:
March 18, 2010 at 9:52 pm
“I doubt we are going to strike Iran this weekend and the only other thing that would seem to merit a presidential address from the Oval is the death or capture of UBL.”
I wonder what the spin from GOP and Faux News will be if UBL were captured.
S
Bipartisan immigration reform framework announced
Thu 18 Mar 2010
By Anna Gorman
Los Angeles Times Staff Writer
Full Article View
Sen. Charles E. Schumer (D-N.Y.) and Sen. Lindsey O. Graham (R-S.C.) have laid out the framework for a comprehensive, bipartisan immigration reform bill that would include tougher border enforcement, creation of biometric Social Security cards and a path to legalization for the nation’s estimated 11 million undocumented immigrants.
I was reading an article recently that gave evidence to Saudi Arabia warming up to the idea of an Israeli strike on Iran. There’s more airspace they could use.
I don’t agree with the “food pyramid.” WAY too much grains. Grains are just sugar with a little fiber and will make you plenty fat. Lean meat, greens, some fruit.
check tomorrow, but I am guessing no….
249.Shore Guy says:
March 18, 2010 at 9:33 pm
Chifi, thanks. For some reason I thought it was today.
I wonder if Moosewood is making a special dish for lunch.
http://www.moosewoodrestaurant.com/menus/lunch_menu.pdf
shore: it has to be red right? I don’t know maybe borscht latkes?
mmmmmmmmmmmm borscht…
http://www.tasteofeuropetx.com/borscht.JPG
now take that borscht and throw it here…http://www.observer.com/files/full/c_Dennis-Kneale—credit-CN.jpg
Lehigh hanging tough. Go Mountain Hawks!
#269 Barbara… Food pyramid…
My experience has been the “net amount” of food intake — being a veggie with only finger exercise on the computer keyboard, I tip the scales the wrong way a bit.
Oh, eating wrong combinations of grains, beans and legumes can make life difficult for people nearby!
S
Dr. Alan Sabrosky, former director of studies at the US Army War College says that the military brass now know that Israel and those traitors within our nation committed the 911 attack
http://www.youtube.com/watch?v=VcCiyKFPC08
Israel is going to get their @sses kicked not by Iran but by the US.
sastry,
yeah ultimately portion size matters, but grains keep you hungry, protein keeps you feeling fuller, longer.
#276… Enormous accusations require enormous proof. That video is worse than birthers’ proofs.
Clint Eastwood said something like “if you go far enough to the right, you start meeting the same nuts from the far side of the left”.
S
Sastry,
My spin would be this:
It is about friggen time, and, had the Shrub not had a bug up his @ss over Iraq, we would have gotten him years ago and not run up huge debts and not created a path to the White House for B.O.. who really has not been very good in office.
Israel had as much to do with 9-11 as my mother did.
276.
“Enormous accusations require enormous proof”
Really? How about some Iraqi uranium yellow cake for dessert.
http://www.youtube.com/watch?v=K8InITc81do
Shore, I think the defense contract industry works like any other for-profit contracting entity. There is more money to be made in “treatment procedures” than “cure”. Even without attributing some conspiracy, there is more money to be made by keeping the “global war on terror” going on, just like there is more money to be made in banning maru.jana than there is in regulating it. For the industry, catching UBL will give a one-time recognition, but not catching him (if he is still there) will keep the supply going at the feeding through.
I will give credit to B.O. if he pushes the health care reform through. It’s no where near what I would personally like (single payer universal health care), but it meets my “lowered expectations”.
Something that may interest you: “… Democrats adjusted a proposed increase in the Medicare payroll tax for individuals earning more than $200,000 a year and couples earning more than $250,000. The tax will now apply to “unearned income” like dividends and interest.”
I also didn’t realize that medicare cap on wages was removed in the last couple of decades. This tax hits the idle rich, and is good for all. The Waltons save a lot of money by not giving health insurance to many of their workers, so it’s only fair they pay it this way!
jamil van jones says:
March 18, 2010 at 10:28 am
70 Yikes: You brought up textbook issue and it was logical to point out that the media-education-democrat complex in this country is led by ultra far left ideology, by men like Bill Ayers, and the establishment textbooks reflect the values he advocates – so common-sense textbooks reflecting american values just makes sense.
you really are crazy. how long do you think he’s been at his position? how much impact do you think he has had at changing textbooks?
who was the previous one? and the one before that? and the one before that?
you’ve lost it, man.
freedy says:
March 18, 2010 at 10:29 am
Bucks is like BC, except the taxes.
and we don’t have the low lifes pretenders
right. “low life pretenders” are everywhere. next time you look to buy in bergen, check the megan’s law website
“Israel had as much to do with 9-11 as my mother did.”
Shore, is your mom jihad jane?
“Israel and those traitors within our nation committed the 911 attack”
i hate to admit it but al is right. 911 was a fix job.
The star ship enterprise from star trek did most of the initial damage and if you look closely, the little green pilots have what looks like yamakas on their head.
just check this live footage and see for yourself.
http://www.youtube.com/watch?v=gm3mCaa6gok
Mr. Hyde #166: Perhaps I can explain this to you. If child says “That man’s fat” — it’s a descriptor. “Fattie” is a judgment. He’s heard it from somewhere — you perhaps?
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