Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Atlantic City Faces State Takeover
Wall Street Journal ^ | January 13, 2016 | Kate King

Posted on 01/14/2016 9:04:13 AM PST by C19fan

New Jersey lawmakers have proposed expanding the state’s oversight of Atlantic City’s troubled finances, sparking outrage from local leaders who say they are already under heavy state control.

Atlantic City’s budget and administration have been subject to approval by a state monitor since 2010, and an emergency manager has overseen the city’s day-to-day finances for the past year.

(Excerpt) Read more at wsj.com ...


TOPICS: Business/Economy; Crime/Corruption; US: New Jersey
KEYWORDS: atlantic; gambling
Navigation: use the links below to view more comments.
first 1-2021-22 next last
The city had a window to turn around when it had a multi-decade monopoly on East Coast gambling but of course this being NJ that did not happen.
1 posted on 01/14/2016 9:04:13 AM PST by C19fan
[ Post Reply | Private Reply | View Replies]

To: C19fan

This will work as well as the feds running the Bunny Ranch in Nevada.


2 posted on 01/14/2016 9:05:58 AM PST by Steamburg (Other people's money is the only language a politician respects; starve the bastards)
[ Post Reply | Private Reply | To 1 | View Replies]

To: C19fan

I had the idea the $ went to the cassions first, then the state and what was left over the city got. The one time I was there it was remarkable how run down it all was exc for the Boardwalk.


3 posted on 01/14/2016 9:06:14 AM PST by 556x45
[ Post Reply | Private Reply | To 1 | View Replies]

To: C19fan

It must be Trump’s fault...


4 posted on 01/14/2016 9:06:25 AM PST by ObozoMustGo2012
[ Post Reply | Private Reply | To 1 | View Replies]

To: C19fan

Atlantic City - the “Ghetto by the Sea”


5 posted on 01/14/2016 9:06:26 AM PST by yobid (Get your hands off my carbon footprint)
[ Post Reply | Private Reply | To 1 | View Replies]

To: C19fan

Who ISN’T facing a state takeover??


6 posted on 01/14/2016 9:09:48 AM PST by Buckeye McFrog
[ Post Reply | Private Reply | To 1 | View Replies]

To: C19fan
Another contretemps of "states right."

Any state should be able to do what it wants.
HOWEVER, they then shouldn't go whining to the feds for money when they crash and burn...or be annoyed at the apron strings that will always bind them to Mommy FED Dearest.

7 posted on 01/14/2016 9:11:57 AM PST by cloudmountain
[ Post Reply | Private Reply | To 1 | View Replies]

To: C19fan

What does Christie have to do with this and how does it impact on Trump?


8 posted on 01/14/2016 9:17:02 AM PST by ifinnegan (Democrats kill babies and harvest their organs to sell)
[ Post Reply | Private Reply | To 1 | View Replies]

To: C19fan

Trump (to Doughnut Boy): “I might have bankrupted two businesses, but you’ve bankrupted a WHOLE CITY.”


9 posted on 01/14/2016 9:18:33 AM PST by Zuben Elgenubi (NOPe to GOPe)
[ Post Reply | Private Reply | To 1 | View Replies]

To: 556x45
... and what was left over the city got.

Not initially. Once the state saw how AC was becoming attractive again, they started siphoning off the money, shafting AC.

Gotta let off the steam in Newark and Camden, not to mention lining the pockets of those commuting to Trenton.

10 posted on 01/14/2016 9:31:48 AM PST by Calvin Locke
[ Post Reply | Private Reply | To 3 | View Replies]

To: C19fan
To think that this and others like it couldn't save Atlantic City, New Jersey

Who'd've thunk it.

11 posted on 01/14/2016 9:39:56 AM PST by ifinnegan (Democrats kill babies and harvest their organs to sell)
[ Post Reply | Private Reply | To 1 | View Replies]

To: C19fan

Without Nucky the Boardwalk Empire is rotting away.


12 posted on 01/14/2016 9:40:27 AM PST by fella ("As it was before Noah so shall it be again,")
[ Post Reply | Private Reply | To 1 | View Replies]

To: C19fan
Casino revenue started a steep decline in 2006. From regulationonline.com: In January 2006, New Jersey passed the "New Jersey Smoke-Free Air Act," banning smoking at "indoor public places" but exempting casinos. Responding to the state legislation and the exemption, within a few months the City Council of Atlantic City adopted an ordinance restricting smoking in casinos to 25% of the gaming floors. Gambling revenues quickly declined and the industry attributed the losses to the smoking restrictions.

Smokers need to stay in hotel rooms and eat in restaurants too.


13 posted on 01/14/2016 9:40:47 AM PST by Reeses (A journey of a thousand miles begins with a government pat down.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Zuben Elgenubi

Will the creepy Fox people try to smear Krispy and Trump with this?


14 posted on 01/14/2016 9:41:23 AM PST by ifinnegan (Democrats kill babies and harvest their organs to sell)
[ Post Reply | Private Reply | To 9 | View Replies]

To: Calvin Locke

Attractive and AC dont seem to go together. I would have never asscoiated the two. ;) In fact most of NJ is a dump.


15 posted on 01/14/2016 9:48:27 AM PST by 556x45
[ Post Reply | Private Reply | To 10 | View Replies]

To: C19fan

Where does Chris Cristy stand on this issue ?


16 posted on 01/14/2016 9:49:58 AM PST by hoosiermama
[ Post Reply | Private Reply | To 1 | View Replies]

To: Zuben Elgenubi

Ow


17 posted on 01/14/2016 9:51:19 AM PST by hoosiermama
[ Post Reply | Private Reply | To 9 | View Replies]

To: ifinnegan

Trump has been out of AC for over a decade. Made money on the pull out iirc


18 posted on 01/14/2016 9:53:39 AM PST by hoosiermama
[ Post Reply | Private Reply | To 14 | View Replies]

To: hoosiermama

“Trump has been out of AC for over a decade.”

Actually I think going on seven years, not yet a decade.

He still has a stake but did sue recently to have his named removed, which Trump Entertainment sees as breach of contract.


19 posted on 01/14/2016 10:01:28 AM PST by ifinnegan (Democrats kill babies and harvest their organs to sell)
[ Post Reply | Private Reply | To 18 | View Replies]

To: 556x45

I went there once or twice as a kid, late 1960s.


20 posted on 01/14/2016 10:22:10 AM PST by Calvin Locke
[ Post Reply | Private Reply | To 15 | View Replies]


Navigation: use the links below to view more comments.
first 1-2021-22 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson