Happy Wednesday Campers!
Greetings from the Route 40 news/living room where I just looked out the window and noticed it’s snowing. I like snow, but I’m a child and seldom leave the house. Should you be compelled to leave your house, the NWS says it’s slippery out there so be careful.
In realer news the Atlantic City Council has postponed a vote on a bond issuance that would have raised $55 million, $38 million of which would have been used to make health and pension contributions that state overseers deferred and that’s been accruing 10% interest per year.
Where does that other $17 million go? It goes to “…accounting, financial and legal services, rating agency fees, underwriters’ discount, and bond insurance premiums…” etc. etc. Or as Jim Kennedy put it, “A 2015 state obligation of $38m requires a $55m debt. No wonder Christie left this mess for Murphy’s team.”
AC City Council is set to authorize to bond $55 million to pay a 2015 pension and health benefit state differed $38 million obligation which has been accrueing at 10%. A 2015 state obligation of $38m requires a $55m debt. No wonder Christie left this mess for Murphy's team. pic.twitter.com/jsAko0o5mk
— Jim Kennedy (@ACEconPolicy) January 17, 2018
See our story for details.
Infrastructure Casino Hotels
Pieces of the Atlantic Club are still sprinkling down onto Pacific Avenue, which seems like a bad thing for a building to be doing. I hope we can all agree on that. Can we agree on who’s responsible for making it stop? The city? The state overseers? The Tourism District? The owners of the building, who are in Florida?
Atlantic City’s like a broken vending machine. You dropped your dollar in it. Who do you call when your bag of Cheetos gets stuck?
See our story for the funtastic answers!
What’s a ‘Central’ Jersey?
Phil Murphy is only one day on the job and he already generated controversy by declaring “Central Jersey” to be a real thing and not a fantastical invention of the phone company, like everybody knows it is.
What’s next, Gov? Is the Jersey Devil’s real too? (Shameless plug: I wrote a book!)
Meanwhile, the Vineland Police Department got its first female captain. Her name’s Lene Bowers and, “While she doesn’t come to work each day feeling like a history-maker, Bowers said it is her constant goal to be a role model to others, especially local students,” The Vineland Daily Journal reports. Heartwarming!
Elsewhere in irrepressible Vinelanders, William Cunningham is challenging Jeff Van Drew for the Dem nomination to replace Frank LoBiondo in Congress.
According to this story, Cunningham played football at Vineland, spent two years living in a hotel after his grandmother died, went to Brown, did Teach for America in Texas, went to law school at The U. of Texas,where he was class president and gave the commencement speech and most recently “was an investigator for the U.S. House Committee on Oversight and Government Reform, cracking down on prescription drug price gouging.”
This better not be made up because he sounds like g*d-damned Super Man.
“Adventures in Fermentation” is the phrase of the day, from The Pine Barrens Tribune.
See below for more delightful news from around South Jersey.