From Patch:
Corporations Own Most Of Newark’s Homes. New Laws Are Pushing Back
It wasn’t long ago that a study from the Rutgers Center on Law, Inequality and Metropolitan Equity made a startling claim about home ownership in New Jersey’s largest city: nearly half of Newark’s residential properties are owned by corporations.
Researchers said the phenomenon is one of the leading reasons behind the rising cost of rental housing in the area. But according to Mayor Ras Baraka, action is being taken on one of the longest-running sources of wealth inequality in the Brick City.
Affordable housing has been a perennial hot-button issue in Newark, where many residents and activists have been complaining about the high cost of living for years.
On Thursday, Baraka detailed several ways that city officials have been fighting to keep housing affordable. They include the creation of new local ordinances, rolling out programs for first-time homeowners, and establishing a municipal “land bank” that helps turn abandoned properties into homes for local residents.
“In cities and even suburbs across America, limited liability companies (LLCs) are eroding the American dream of homeownership as they convert owner-occupied homes into corporately owned rental units,” Baraka said.
“In Newark, where we have worked hard to expand homeownership, we have created a strategy to do everything possible to fight this dangerous trend,” he continued.
first
2…..
3……
“Owned by corporations”
Would love to see the details on some of these LLCs. Suspect that many of these LLCs are just individuals who gain some advantage by doing so.
When you create tax laws that favor corporations over individuals, individuals will simply create corporations.
NEWARK, NJ — It just got easier to locate and buy abandoned properties in the Brick City.
Invest Newark, the city’s Economic Development Corporation, recently rolled out a website for the Newark Land Bank, which lists properties that are available for sale throughout the city.
Land banks are a legal mechanism that help towns, cities or counties to buy abandoned, vacant or neglected properties for the public good. Working with a nonprofit or other public entity, governments can then sell the run-down properties to someone who wants to give them a new life.
Rinse and repeat. This has been tried for decades. The money goes into advisor’s and consultant’s pockets. The best thing about Newark is figuring out how to drive around it. Loosely related, there was a comedian on XM yesterday mocking midnight candle vigils, protests, and ‘awareness’ gatherings. The way he was describing it all was funny but so true. Symbolic gestures do nothing.
Newark properties held in LLCs are mostly small investors. Lots of hasidic groups with LLC ownership of small multi family buildings in Newark.
Saw one of the new Amazon Rivian electric vans driving around the neighborhood. The stretched dimensions make it oddly cute and cartoonish.
Lucid motors: Went to Short Hills Mall over the weekend. This store is there with vehicles to ogle over:
https://www.lucidmotors.com/?utm_source=google&utm_medium=paid_search&gclid=EAIaIQobChMIyK7SyOfd_AIVl0lyCh3OVQZKEAAYASAAEgKTcPD_BwE
Someone in my sphere got whacked out of Google. Wrong place, wrong time. Non-core. Any ideas of a good gift?
re: Newark Land Bank ….One former Newark mayor Sharpe James went to jail for rigging the sale of nine city lots to his mistress Tamika Riley.
re: “Any ideas of a good gift?”
https://www.amazon.com/Funny-Hang-Google-Gift-T-shirt/dp/B07MNBZXFD/ref=sr_1_6?keywords=Google+Gifts&qid=1674482124&sr=8-6
Douche
“Someone in my sphere got whacked out of Google. Wrong place, wrong time. Non-core. Any ideas of a good gift?”
Did you try Googling it for ideas?
Seriously, this is what I would get him. tinyurl.com/2ghq6phb
I suspect there is going to be massive backlash inside Google. The layoffs appear to be all over the map, indiscriminate, random even. The sentiment of folks talking about this publicly is insanely negative. I mentioned my own anecdote – they cut deep in areas they shouldn’t have cut and cut talent that was incredibly questionable.
If I were to wager a bet, they cut high paid individuals in scenarios where there was wider pay disparity in divisions/departments. The number of high tenured folks cut is very surprising. I know someone that was with Google almost 20 years who was cut. That’s damn near founder status internally.
Google laid off a friend of mine today too. He left his previous job because they were on a hiring spree and well overpaying for sure.
They are calling the google layoff a “deactivation” there is apparently no communication about it from management or HR etc, you just cannot access anything anymore. I gather they will get a snail mail letter outlining their severance.
Lib: woman & high paid
Maybe they are using ChatGPT to decide layoffs?
What’s Google’s next big thing supposed to be again?
Facebook’s next big thing was supposed to be “the Metaverse” turning everyone into “Ready Player One” I guess. But not so hot so far.
Reports are many of the long timers at Google were people making bank for sure.
“Google managers, who spoke on condition of anonymity, told the outlet that some who lost their jobs included those with high scores on performance reviews or in managerial positions earning between $500,000 and $1 million a year.”
They have had a few business units loosing money year after year, their cloud computing GCP loses a billion a quarter and well after years of shakeups in management there they still cannot beat AWS or Microsoft. It’s also not just the cloud wars..
Amazon is coming for their Ad revenue. They already do something like $10 Billion a quarter in ad revenue now. They are gunning for 100 Billion plus, money spent on Google and Facebook for sure today. Margins are much higher that selling stuff, and Amazon is hiring lots of ad sales people.
Of course, google is saying they have a comparable technology with Deepmind – Ala “Sparrow” – but the proof is in the pudding.
This technology is not IP protected or proprietary in any sense. Most of this large language model tech is right out of academia.
Google and Microsoft will always find themselves behind the scrappy startups that can do this far faster than they can.
They don’t need a gift. They need you to pick up the phone and check in with them. Its Monday morning, they need to know there is someone thinking about them and they are not on their own.
Of course Leftwing was correct about updating my chart. We just touched the upper boundary. If we finish where we are right now, I will be moving to 50/50. Will continue to scale in if the charts tell me too. I’m still way ahead. Hoped to be further ahead. Discipline keeps me from getting too greedy.
I’d say there is some crazy talent on the market right now, but lots of these folks got huge severance packages and many of them are planning to sit this out for the next few months.
Chi – I think this was your analogy – when everyone else is cutting back, retrenching, that’s the opportunity to build the death star.
re Deepmind and IP protected and right out of academia.
Apache Software Foundation has made many companies very successful with their model etc. No reason not to repeat it, get lots of academia together to do the heavy lifting all subsidized. Follow the Open-source OSS model to some degree, but not everything is open or free, any additional development is spun off into a private company owned by Google etc that sells additional software features under proprietary licenses to make it “enterprise” and have support etc. Case in point their AI protein folding technology AlphaFold developed with Deepmind. They have spun off a company to sell it with additional offerings and support.
https://www.isomorphiclabs.com/
Same with OpenAI and ChatGPT, Microsoft is putting their eggs in that basket most likely for Microsoft products & office integration etc, as well as others.
Microsoft is going to f*ck it up, this I know for sure.
Google is going to pivot to monetize it, not by selling the tech, but by selling the ads, because this is where the money is.
The tech isn’t the barrier here, so Google is in a far better position to get their tech in the faces of it’s users. It could be as simple as allowing people to ask questions in the google search bar, and displaying both the generative AI output, alongside search results.
Take a day and use Bing instead of Google. Christ – their search results are garbage in comparison.
first time investigations are occurring on a president and his son, money is being laundered through shell organizations by a foreign enemy and possible violations of the espionage act are being considered.
Any questions?
Eddie, didn’t realize you finally got round to reading the Muller Report
We used to call Amazon the Death Star. They still are in my opinion not just for any other retailer or cloud computing business but for the ad business now. Massive YoY growth in ad sales, they are supposed to be somewhere around 13% of ad dollars spent online now. Nowhere to go but up. Perhaps they should acquire TickTok in the US and EU etc?
“But do we really want ONE person in DC to overrule the will of how many tens of thousands of voters who actually elected the person as their representative?”
What a gaslighting piece of BS that post was. You seem to be ok with the 1000 or so Insurrectionists and Seditionists that tried to overrule the will of the 81 million that voted for Biden.
McCarthy can solve the Santos problem by booting him out of congress. But he can’t afford to lose the vote so he has to give him a pass on everything and some nice committee positions to boot.
“Each House may determine the Rules of its Proceedings, punish its Members for disorderly Behavior, and, with the Concurrence of two thirds, expel a member.”
Hypocrisy, thine name is GOP!
I’d suggest that Amazon purchase Whatnot, and not Tiktok. Whatnot is settting the standard for live sales now. Those of us who are old enough are laughing about QVC and Home Shopping Network being one of the hottest topics in online commerce right now. Whatnot is killing it in this space, they are who everyone is trying emulate.
Whoa. This dude is genuine.
https://www.goodmorningamerica.com/amp/news/story/man-disarmed-monterey-park-shooter-speaks-96604445
““But do we really want ONE person in DC to overrule the will of how many tens of thousands of voters who actually elected the person as their representative?””
Sounds an awful lot like the superdelegates the DNC refuse to get rid of which ensure that regardless who registered Democrats vote for in the primary, the most “establishment” Democrat will continue to get elected. Heck, I remember Howard Dean saying that if Bernie won the primary, he wouldn’t allow him to serve as president. That seems awfully Democratic.
Fab – Put away the DNC taking points memo already. Congress only removes people by a 2/3rds majority vote only after they have been convicted by a Judge and Jury of some other crime.
Heck even when there was legislation introduced to kick Marjorie Taylor Greene out of congress in the last session Nancy Pelosi did not support it. Nancy said she did not support the view point of the members who wanted her out, as in FU I am the Speaker not you, get lost already.
“How painful is this Giants game?”
When did you take a knee? What happened to your NFL boycott?
Sent something with the headline Friday early AM assuming they were unaffected, but knew non-core. Disappointed I received an unexpected confirmation super late last night.
Fabius Maximus says:
January 23, 2023 at 10:20 am
They don’t need a gift. They need you to pick up the phone and check in with them. Its Monday morning, they need to know there is someone thinking about them and they are not on their own.
re Whoa. This dude is genuine.
I am shocked that dude is alive, when responding the cops usually shoot first until their clips are empty.
Juice,
Thats the point, there is a process, but Quevin cant afford to take it. Its a 2/3rds majority, but he does not have to have committed a crime. Its covered under standards of conduct.
Have the vote and let the house speak.
Fab – Did you write a letter to Nancy or not? She does not support you view even now that she is not speaker, she wanted a constitutional amendment that would make it possible to expel members without a trial or conviction. Look it up, there is a bar here of innocent until proven guilty that some people just don’t want to cross. That is a good thing no? We don’t need summary judgement let the DOJ do it’s job and investigate and prosecute crime no matter whether it is a congressman, senator or president.
When did you take a knee? What happened to your NFL boycott?
I didn’t watch a game last year. It’s strange how after years of being a Giants fan from birth and going to dozens and dozens of games, politics and s0cial issues infiltrated and ruined the romance. This year, if I’m around and there was/is nothing else to do, I’d flip through the channels and pause at a game with the same enthusiasm as one would pause to watch a cooking show on PBS at 4:00 AM. The passion is gone like any other thing that bandwagon, symbolic, s0cial causes ruin. A friend of mine said there are a lot of players that have a great love for grassroots America, that are veterans, heartfelt souls and believe in the fabric and foundation of our classic traditions. He said you gotta look at both sides. Maybe some day the pendulum will swing and we’ll get back to the basics that made us great.
Microsoft gutted their VR/AR division apparently.
So much for the Microsoft Metaverse.
A friend of mine said there are a lot of players that have a great love for grassroots America, that are veterans, heartfelt souls and believe in the fabric and foundation of our classic traditions.
Can’t help but read this and think about the passion in the Midwest for high school sports, especially baseball and football. Have some close friends in Omaha – and it’s just amazing how much passion and camaraderie there is around HS sports out there. Accessible, non-commercial, plenty of rivalries and passion. I’m sure there is plenty of bullshit, just not bullshit politics.
I’m going to create a nonprofit called “Physics & Figs”. Our mission will be to educate physics students and plant fig trees.
What no more Holoportation? Microsoft has been taking about Mixed Reality for like seven years now. Basically you join a Teams meeting as a crappy 3d avatar like the Star Wars Emperor or Vader would and you force choke the insubordinates.
That would sure be a major improvement over the banging head against wall emoji I use to try to emote the same opinion in Teams.
I’m going to create a nonprofit called “Physics & Figs”.
Identify yourselves as hardcore democrat leftists and you’ll have gobs of money thrown at you from foreign commun1st regimes.
And local communist regimes too, hopefully.
My nephew got a really nice 3d printer for Xmas.
Hired him to print me out a set of Boba Fett armor. We got the files last night. I ordered him $100 or so in PLA filament.
He was working on his own Stormtrooper armor.
Amazed at the quality of the helmet.
So looking forward to Halloween.
I can only imagine how many penises have been printed in 3D.
The Fed-fueled fantasy bubble has popped.’ Stock investors are detached from reality — but they’re about to get a big dose.
tinyurl.com/2n8yham5
MarketWatch: Why are stock investors in such a tight spot now?
Bierman: This market got hooked on the Fed’s easy money. After the 2008 housing crisis, there was a handoff from Bernanke to Yellin to Powell using quantitative easing. Instead of the normal 4% to 5% interest rates, they went to nearly zero. It was like the limbo game — how low can you go? The market got comfortable, then delirious, with that low-interest rate mindset. The Fed had a chance to take away the punch bowl at 3400 [on the S&P 500] but chose not to. Then we overshot by nearly 1400 points. This is the excess that has to be worked off.
I can only imagine how many penises have been printed in 3D.M
Related to this, my wife working with him on being able to make veterinary prosthetics – dog/cat limbs. Apparently, this isn’t necessarily regulated space, and a lot of hobbyists have been doing pro-bono work in creating customized prosthetics for pets, especially where owners can’t afford commercial prosthetics.
He loves animals, so it’s a good fit. Maybe we’ll help him form a non-profit around this.
grim says:
January 23, 2023 at 1:03 pm
“…make veterinary prosthetics…Maybe we’ll help him form a non-profit around this.”
Bravo! And sign me up. I’d gladly donate to any reputable animal welfare org that takes this up as a cause.
Especially if they make prosthetic penises!
EV’s? maybe not so fast:
https://jalopnik.com/gm-is-investing-almost-1-billion-in-new-v8-engines-1850013640
Speaking of EV cars.
Ford has partnered CATL to build a battery plant here is the USA. Govenor of Virginia did not like that (those damm commies) so he pulled the plug on helping them build the plant in Virginia, it most likely will now go to Michigan. Ford will own 100% of the plant, including the building and the infrastructure, while CATL would operate the factory and build the cells with their technology.
Ford is not about to open lithium mines, brine ponds and factories to turn lithium carbonate into lithium hydroxide and then make the batteries themselves. They do not have the tech to do it, and even if they thought they could it would take perhaps a decade to build a home grown battery supply chain.
It’s not like there are any American competitors to CATL for Li-ion batteries. There is only one lithium production site in the entire country in Nevada.
The Chinese are opening dozens of battery factories and have partnered with everyone to get raw materials and just about every auto manufacturer worldwide are customers. The ship has sailed on making solar panels and ev batteries here. We just cannot compete on any scale no matter how much money we toss at it.
Speaking of prosthetics reminded me that a movie I recently watched, “Everything, Everywhere, All at Once” had some scenes where people’s fingers were replaced with very long hot dogs. I don’t know if they used prosthetics or computer graphics to make the hot dog fingers. What I do know was that it was one of the worst movies I’ve ever watched in my life.
I’ll take Rudy Colludy for $100. The dominos are starting to fall.
Helen Kennedy 🌻 @HelenKennedy
Hang on. The section chief of Cyber-Counterintelligence at FBI Headquarters in 2015-2016 – when Russia was trying to help Trump win via hacking – was on Deripaska’s payroll? When did he first start taking bribes from the same guy who was in business with Trump’s campaign manager?
https://twitter.com/HelenKennedy/status/1617582994750939136
“You seem to be ok with the 1000 or so Insurrectionists and Seditionists that tried to overrule the will of the 81 million that voted for Biden.”
IIIIIINNNNSUUURRRRRRECCCCCTTTTTIIOOOONNNNNN!!!!
You’re hitting on all eight of the illogic Liberal cylinders today, huh?
“McCarthy can solve the Santos problem by booting him out of congress.”
Santos isn’t a problem. To whom? He’s a clown. So what? Can find another dozen clowns that should be tossed as well…horrible precedent to start doing so.
Haven’t you learned yet that bending precedent and rule to achieve a narrowly specific outcome leads to chaos? Remember, you have the three conservative SCOTUS justices you do because the Dems ended the filibuster for Federal judges…let’s see how/if certain Dems are seated for committees given Nancy’s blocking of Repubs for the Jan 6 Committee…oh, and let’s not forget that liberal favorite, win the popular vote lose the EC, let’s disband the EC…I swear, you Liberals have the foresight of the common housefly.
“Hypocrisy, thine name is GOP!”
Oh, and I forgot, a bunch of drama queens as well….
https://www.youtube.com/watch?v=sSmnWFZDlbA&ab_channel=MGM
““Everything, Everywhere, All at Once == What I do know was that it was one of the worst movies I’ve ever watched in my life.”
Like clockwork, the odds on favorite to win Best Picture is…
A decades-old federal program that offered big drug discounts to a small number of hospitals to help low-income patients now benefits some of the most successful nonprofit health systems in the U.S.
Under the program, hospitals buy drugs at reduced prices and sell them to patients and their insurers for much more, often at facilities in affluent communities.
https://www.wsj.com/articles/340b-drug-discounts-hospitals-low-income-federal-program-11671553899
Oh, my META….
Lib, earnings start in earnest tomorrow. Let the games begin lol.
Bystander,
The movie already won a bunch of Golden Globes. The movie is 60% modern philosophy – portraying that there’s no reality, no truth, just disjointed glimpses of infinite alternate realities that come and go, triggered by random acts, 20% weird kung fu action movie (old lady knocking people down with her little finger, guys leaping from the air onto giant butt-plugs -wonder how many emergency room visits have been inspired by that scene?), and 20% trite woke Hallmark movie – be kind to people and embrace their gayness. Thus with no reality, no logic, all they care about is emotion.
Of course the lead and supporting actress win awards – for their highlight segment in which two aging lesbos suck on each others’ hot dog fingers.
BREAKING!
Four More Oath Keepers Members Convicted of Sedition in Second Trial
The four members of the far-right militia were found guilty of seditious conspiracy nearly two months after the group’s leader, Stewart Rhodes, was convicted of the same charge in a separate proceeding.
I wonder if The Great Pumpkin completed his DNA sequencing lol. He was going to report back in today. Odd he has not.
I didn’t make any money moves. I need to wait for some tech earnings first. I don’t listen to analysts, but many are saying the same things I’m saying about valuations. I saw three today that echoed my opinion. Will give it a few more days.
Sadly, the best play in this market seems to be long garbage…but for how long? I was holding Square as an upside hedge but dumped it last week.
“At Monday’s close, U.S. Treasury notes set to mature in January 2024 were yielding around 4.7%, while inflation-protected Treasurys that come due the same month were yielding about 2.7%, according to Tradeweb. The difference between those figures, called the break-even inflation rate, suggests that Treasury traders are betting the consumer-price index will rise by about 2% over the next 12 months.”
If this sold for 325K in May of 2021, why would I pay 425K for it today?
https://www.trulia.com/p/nj/emerson/58-kinderkamack-rd-15-emerson-nj-07630–2313588154
On a main road, dated kitchen and baths, the sellers don’t not how to decorate, didn’t sell at 699K so… let’s raise the price to 789K:
https://www.trulia.com/p/nj/paramus/274-oradell-ave-paramus-nj-07652–2006710841
Whoever designed this should be beaten:
https://www.trulia.com/p/nj/paramus/207-wilsey-ct-paramus-nj-07652–2006709842
Another nightmare to the eyes. And let’s raise the price 100K:
https://www.trulia.com/p/nj/paramus/230-jefferson-ave-paramus-nj-07652–2006710230
Bergen County is turning into Brighton Beach.
3bd/1bth and let’s stuff a fucking monstrous sectional in a 10 x 10 room. Ugh! People are ghouls! Another thing; no TVs in the bedroom. Go to a living room, family room, etc. if you want to watch TV:
https://www.trulia.com/p/nj/paramus/331-harrison-st-paramus-nj-07652–1018287590
Re: 311 Harrison…I don’t know what in the world would be so important to tether someone to that house, at that price, in some random faceless town…buy something, anything, somewhere else for half a million…or live in a tent. Anything has to be better than that house at that price. And, yeah, Eddie the sectional has to have the cupholders too lol. And once you sit at the DR table are you stuck there or can you actually push your chair out far enough to get up and take a piss?
Lib, yeah, I’ve done nothing on earnings, which says something as I’ll usually actively ST trade many…no idea on direction and even if I did this go-around I can’t even project how the shares would react. Got MSFT tonight along with some headline names tomorrow and Thurs…let’s see where we go….I need to be patient…if I miss the next 5%, so be it. Can’t get wrapped up in artificial datapoints (new calendar year) and feel pressured to get deployed. Cleaned out more written contracts yesterday at 50% or so of maxprofit, smaller stuff, wouldn’t even call them singles just good swings that give me my baseline income…cupboards are starting to get really bare lol.
lol, these google laid off tik tok’s are pretty funny. Almost as if their previous tik tok’s were used by corporate to document that they actually did no work.
Fast
Did you see the one that sold for 325k in 2021 sold for 309k in 2008? Ouch.
Beer,
Did you see the one that sold for 325k in 2021 sold for 309k in 2008?
If you’re referring to a townhouse or condo, that’s not a shock. They’re risky buys in the long run. I’d rather have a POS little cape in a sketchy town than a condo near the haughty muppets.
Fast: A wonderful selection of homes you have presented for those who can now join the rarefied ranks of prestigious Bergen Co.
And, yeah, Eddie the sectional has to have the cupholders too lol.
Nothing says ‘lazy’ more than built in cupholders in a sectional that’s too big for the room.
This made me laugh. If it passes, how many years will it take California to drop the wealth threshold from 50 million to 5 or even 1 million?
https://nypost.com/2023/01/24/california-dems-consider-wealth-tax-including-for-people-who-moved-out-of-state/
How about this little gem. Located on one of the busiest roads in Bergen County. Sold for $430k 1.5 years ago, was asking $950 up until a few days ago and now can be yours for only $900k.
https://www.trulia.com/p/nj/river-edge/427-kinderkamack-rd-river-edge-nj-07661–2006726729
I feel the same way Leftwing. It is so uncomfortable doing nothing. On the bright side, I just looked at my Mint and my net worth is the highest ever and continues to grow upwards. My cash position is double what it used to be and even the 5-8% interest I’m earning by taking advantage of bank promos is really adding up.
Funny Captain Cheapo thing happened yesterday. Marriott Bonvoy is one of those credit cards offering monstrous points for a large initial spend. I already have it and Gator is an authorized user. I just had to pay a 5K retainer and my lawyer was cool with me putting it on a credit card. So I referred Gator to get her own card and they gave me 40K more points and her 2K extra. So the 5K retainer earned us 10K points, referral 42K and Marriott Bonvoy gave Gator 140K in points, plus one free night anywhere. So that’s 192K points valued at .7 cents per point or $1,344. That’s the equivalent of 27% back. Not bad for referring Gator and using a credit card once.
Bergen,
I wonder what the house looked like before the renovations. Still, not at that price on Kinderkamack Road
Fast: I pass by that house all the time. Does not matter how nice that house is now. Kinderkamack Rd is absolutely miserable, constant traffic, day and night, and trying to back out of your driveway is treacherous. KKR in River Edge is also shabby and run down, and traffic is heavier on that stretch of the road as it leads into Hackensack, and Rt 4 to the bridge. All the other towns have redeveloped KKR in their respective towns but not River Edge
Every once in a while, I drive that stretch of New Bridge road from my cousin’s towards Paramus. I’m reminded why I’d never want to live in Bergen County.
I don’t get the Bergen County charm either. Then again, I see what some of my college friends are paying for their co-ops in Park Slope Brooklyn and really shake my head.
900k with crappy forced hot air. A fireplace that will consume tons of wood and provide little heat compared to a wood stove. And a set of stairs that will guarantee a trip to the ER or OR when you get older for a broken hip.
Never understood the fascination of colonials. I’d take a ranch all day long.
https://www.trulia.com/p/nj/river-edge/427-kinderkamack-rd-river-edge-nj-07661–2006726729
I don’t get the Bergen County charm either.
Come on.. blonde pony tail pulled through the back of the Yankees cap, the Aussiedoodle in tow, the kid in the bugaboo stroller, the groceries from Whole Foods in the back of the Lexus SUV… what’s not to love?
BRT: It’s a miserable stretch.
Phoenix: Only poor people live in ranches. Colonials are for wealthy sophisticated people, and how can you have the Santa hanging from the window at Christmas time without a second floor.
Bergen County people, in my know nothing else. They don’t venture to other places other than the Jersey shore because Bergen County “has everything”. My cousins are happy just to escape from Bergenfield to Closter. Well, it does have everything, except drivable roads without jams.
ChiFi,
I still want to get quotes on second to die life insurance to feed into D’s special needs trust. Know any honest insurance policy salespeople? Or anyone else here?
They don’t venture to other places other than the Jersey shore because Bergen County “has everything”.
We’re special… and we have unicorns that shit skittles.
Phoenix,
Have you had to do any butt-plug removals from people trying to re-enact this scene?
https://www.youtube.com/watch?v=HLv9XiiRZk0
“I fell on it”
Oh Yeah, we have a functioning Gubmint:
https://www.wsj.com/articles/months-after-hurricane-ian-hit-florida-many-in-fort-myers-are-living-in-tents-11674526871
10:51 hate colonials. Those steep staircases.
Newark, affordable housing and LLC’s . . .
By and large, the overwhelming majority of properties in Newark are 2-family and 3-family properties. A lot of these are owned by small-time landlords. The LLC, in theory, might limit the owners’ liability to the assets of the LLC (that is, the one property it owns) in case of catstrophic liability (e.g., ice-related slip and fall leading to severe injuries, some kind of horrible illness incurred by a tenant, the boiler exploding and causing a fire with loss of life, etc). However, since many of these small-time landlords likely self-manage, they might be held to be personally liable, anyway, so ideally they are getting insurance aimed at their commercial operation of a small rental property. Don’t know the contours of how this plays out in real life, as between LLC protection and insurance coverage in case of horrible huge liability.
Leadership in Newark likely doesn’t really actually want a high homeownership rate. They could incentivize downtown condos (generous tax abatement and no requirement of local labor for the projects) – I’d think that they do pencil out for developers. Similarly, I’d imagine that there are projects that could pencil out in the Ironbound or North Newark. But, the leadership in Newark doesn’t want outsiders coming in. Instead, they want the people who can currently tolerate living in Central, West, or South Newark to become homeowners, I suppose. Frankly, broad-based development in Newark likely means the Baraka-West-Central-South faction goes down one day to the T. Ruiz-North-East-Downtown faction – the city will get there one day, jsut a question of how fast.
“Oh Yeah, we have a functioning Gubmint:”
Want to see how well they function?
https://projects.propublica.org/coronavirus/bailouts/
Everyone wealthy enough to own their own businesses were treated like loyalty. I looked up who received PPP in Glen Ridge. Somehow Bottle King took nearly 6 figures. Even though home alcohol use exploded during the Pandemic. Go take a look, nary a person making less than 400K a year didn’t figure out a way to get their piece of the cheese.
“6 figures”…pfft, our local law firm, run by the Chair of the PANYNJ, had $1.7 million forgiven…
I can only imagine the percentage of PPP gifts that were fraudently accepted. I would bet my life that the number is over 75%. You can try to complain about our aid (27 billion) to the Ukraine. But it pales in comparison to the 600 billion Uncle Sam gave out indiscriminately to millions who did not deserve it or need it. I guess this explains why companies that sell luxury products continue to have excellent earnings while retailers who serve the less affluent are witnessing a tremendous pullback.
Guess how many fraudulent claims our wonderful government has clawed back so far. 186!
Once again, problem solved if government just stops ‘doing something’…
Lib, BRT, chi, threw on a bunch of low cost, high payout long option ratios. Seems that 4020 area is a soft line. Two percent down by Friday provides real payout. Boredom = junk trades….
Earnings and guidance so far not bad. Certainly not anything to substantively challenge 2023 forecasts yet.
Your City is a huge mess:
https://www.dailymail.co.uk/news/article-11670919/Fox-News-weatherman-beaten-marauding-gang-teens-NYC-subway-says-lucky-alive.html
2:3 I heard an official saying that all of this money kept people afloat during the pandemic. We are really and truly a complete dysfunctional mess in this place.
Interesting to learn that in China you pay for the home in advance of it being built. So these folks are paying a mortgage on non existent real estate.
https://www.nytimes.com/interactive/2023/01/24/world/asia/china-unfinished-apartments.html
“In China, about 90 percent of new homes are sold before they are built. This presale model allows developers to raise cash quickly, but shifts much of the risk to buyers like Ms. Xu. They are expected to pay in full before construction starts, often taking out mortgages to do so.
Regulations require that the money from presales only be used for construction of that project. But until recently, supervision was lax and developers would use the funds for whatever they wanted, including starting other projects.
As home prices soared, the government tightened financing rules for developers in the hope of preventing a housing sector collapse. Many large developers — like China Fortune Land Development of the Royals Garden project in Shanghai — buckled under the weight of massive debt and had to stop work.
Despite the delay, Ms. Xu continues to fork out more than $1,300 every month in mortgage payments.”
https://www.sbli.com/life-insurance/
Libturd says:
January 24, 2023 at 11:18 am
ChiFi,
I still want to get quotes on second to die life insurance to feed into D’s special needs trust. Know any honest insurance policy salespeople? Or anyone else here?
Bernie Goetz had it right…..
Chi,
Thanks.
I also spoke with PolicyGenius to get some comparative quotes. Not sure we are going this route. But definitely exploring it as an option.
Somebody get an early peek at MSFT….was soft, and ooohhh, those green one minute bars now…
Poor Mr. Softy.
Tempted to jump in…volume pops 4x in each of the last ten minutes to pick up 1%….sumpins’ up….
Need investments Lib…blackjack table is shut and I’m wandering the floor wide awake with pockets full of blacks…usually doesn’t end well….
Damn, going to sound like the fool but there she goes…up 9 bucks….wonder who the ‘lucky’ guy was who bought 670k shares in the final minute…that’s only 10-20x the average volume all day long…nothing fishy there, Mr SEC…got the backup analysis to prove it!
Maybe it was Pelosi?
They didn’t report guidance either, which is strange. They said they would on the call. Those gains may be ill fated.
90 days ago, earnings were supposed to be 2.55. On earnings day, they were estimated to be $2.29. They came in at at $2.32 and GAP EPS was only $2.20. Revenue was light. I would not be surprised if the stock finished flat tomorrow.
Oh, and exactly 3 months, this stock was exactly at where it closed today. This quarter a year ago, EPS was $2.48 and stock was at $340. Currently it’s at $251 after hours. So how much of that drop in P/E from 38 to 26 is warranted? How are we valued now?
It’s impossible to tell.
But I will guarantee you this much. No matter how much MSFT says they’ll make in the next quarter, the analysts will agree and within 90 days will lower the EPS estimates by at least 30 cents per share and MSFT will beat by a couple of pennies.
And now it’s Pence who had classified documents in his house!! It’s insane!
Though they are all breaking the law. I’m sure none of it was intentional. I said this is a nothing burger since day one.
Who worked under Pence?
I just like to say “under Pence.”
I bet if they raid Mt. Vernon they’d find George Washington had classified documents stashed away, too.
Lib, my lines on MSFT are pretty clear and I’ve put them out here for quite a while, well over a year, probably closer two years now…225 and 200.
When we were debating AMZN v MSFT on Jan 6 is when I opened a position in MSFT, through my usual setup by writing some OTM puts first…little fucker never gave me a chance to go long through some debit call spreads, I bottom ticked it at 225 on Jan6 and she took off right after….look at a daily….while that may sound good (I closed the puts yesterday as I didn’t want to carry over earnings) it would have been much better for me had I seen a little daylight and put on the call spreads, profitability would have been much better….hey, green is green, take it how you can get it. Back on the watchlist she goes….
“I bet if they raid Mt. Vernon they’d find George Washington had classified documents stashed away, too.”
Interesting story, there’s an historic house in Mendham that was being renovated well over a few decades ago when they pulled some wall boards and an old sack of letters tumbled out…seems Washington’s chief aide stayed in the house during their encampment at Morristown and not wanting to destroy correspondence to the Continental Army but also not wanting to be captured with it, he stuffed it in the walls.
I’ve googled for the story, can’t find it, but it was told to me by someone very credible (remember I collect historical stuff).
Haven’t driven out that way in a long time, probably pre-COVID to take the convertible somewhere fun, anyway made me smile whenever I went past that place….
So, yeah, Joyce did the fucker up and charge him, lol.
At least we’re getting to the absurd extremes now to prove the point of the political witch hunt of the Orange Idiot.
*dig* up…
Trump broke enough laws with gleeful abandon.
My money is a racketeering charge from GA.
In addition to being guilty of being a lying obese turd.
Also, Lib, my bigger point on MSFT earlier is that it was interesting to watch someone insider trade, real time…
Pull a one minute bar chart with volume and it jumps clear as day….
“My money is a racketeering charge from GA.”
Maybe…racketeering is another of those bullshit charges, the reason I’ve always viscerally hated Giuliani…what that fucker did to people to move up politically should have him burning in hell…
Anyway, yeah, that threshold is low so if they want that they likely can get it…but even the left realizes the hit job it is. The venerable NYT has downplayed the DA and that it is the *county* bringing the charges…They’ve stopped referring to the county DA, references are now ‘Atlanta’ and not some bumfuck backwater political hack…for anyone who’s ever been through the Essex County courthouse THAT is the entity who is bringing the charge…can you even name your county DA? Have you seen the quality of the officials there? Yeah, that’s how relevant they are…kind of similar to a county DA charging a loud mouthed liberal icon looking at six years in prison for an accidental discharge of a weapon…oooops, did I say that? Pawn for pawn, rook for rook…..the merry-go-round goes around….Repubs need to run Fauci, dig hard and get that SOB charged with something.
I’ve been just tossed around the whipsaw all month. Up 3%, down 3%, up, down, up, down. Don’t really have much free time to even play the market right now.
Classified documents…. The government literally classifies everything to avoid any sort of accountability and transparency. That’s why they don’t consider it a big deal that it’s sitting in their garages. Do you think these tools even look at documents?
lol, Microsoft after hours looks like a penny stock. Btw, did anyone catch Altria up 10% at open, halt, then back down. Wtf was that crap?
Lib: It alls crap, but it demonstrates again the dysfunction of the government. Trump yeah , to he expected Biden/ Pence you would different regardless of whether it was their intent or not. You would think there would be some type of certification system in place to ensure this does not happen. If there is, then it’s not working.
BRT, what the hell man, free up some time…you don’t need to teach kids, doesn’t ChatGPT do labs now?
Morning was a mess, technical error. No opening quote so some individual market orders got crazy marks…trades undone.
LOL, yeah, I don’t do (well, try to avoid) those kinds of moves…me, I like slogging 50 or 100 bps weekly…no disappointment whatsoever when I’m up less than 1% on those super green days, because I know on the down days I’m +/- 25bps of zero….
ChatGPT is a soulless and not smart enough to design a good lab. I’m basically designing a lot of them myself. I’ve been downstairs cutting wine box tops into shapes to design custom labs. That and teaching my kid how to play basketball like Dennis Rodman since he can’t dribble or shoot.
“Also, Lib, my bigger point on MSFT earlier is that it was interesting to watch someone insider trade, real time…”
I see it all of the time! I saw that Microsoft purchase too. lso saw the crazy morning cancelled trades. I once had one of my trades cancelled for the same bullshit. It cost me a few thousand back when a few thousand meant the world to me. It was the last time I used E-Trade. Ameritrade has been 100 times better. I’ve even gotten better prices a few times when I complained about some poor fills. That’s service.
Quid, meet pro quo….
McCarthy Ejects Schiff and Swalwell From Intelligence Committee https://nyti.ms/3GYdtTy
Lol.
Mr.Softy guided weak. Now down 2% in after hours.
These homes are all so nasty. We are one or two good years away from seven figures liquid (though still dirty renters) and most inventory is just disgusting. My European relatives’ dog wouldn’t live in this squalor. Sometimes we’ll drive through these towns and find them just sad and [expletive] gross. Tired unpaved roads, dirty, worn out capes, old used cars, bald tires, cracked driveways… devoid of investment into any kind of public infrastructure. Just [expletive] tired people living mostly check to check, putting out feelers every eight to ten years to see if someone will double their net worth. Our friends knocked down a 850K house to build 3MM… is this what it takes to not to live in a dump that reeks of cabbage? This is absurd.
Real talk: It doesn’t matter which side street you’re on, large parts of any Bergen town look more or less just like this.