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 stateâs oversight of Atlantic Cityâs troubled finances, sparking outrage from local leaders who say they are already under heavy state control.
Atlantic Cityâs budget and administration have been subject to approval by a state monitor since 2010, and an emergency manager has overseen the cityâs 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 1-20, 21-22 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
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)
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
To: C19fan
It must be Trump’s fault...
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)
To: C19fan
Who ISN’T facing a state takeover??
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.
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)
To: C19fan
Trump (to Doughnut Boy): “I might have bankrupted two businesses, but you’ve bankrupted a WHOLE CITY.”
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.
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)
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,")
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.)
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)
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
To: C19fan
Where does Chris Cristy stand on this issue ?
To: Zuben Elgenubi
To: ifinnegan
Trump has been out of AC for over a decade. Made money on the pull out iirc
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)
To: 556x45
I went there once or twice as a kid, late 1960s.
Navigation: use the links below to view more comments.
first 1-20, 21-22 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.
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson