Atlantic City Closing on Wed.
 

WTF

Seems the budget crisis is about to smack down A.C. bigtime.

Re: Atlantic City Closing on Wed.
 

hah hah only in jersey.. move AC to NY!

Re: Atlantic City Closing on Wed.
 

There was an article about this in the AC Weekly newspaper. Nobody seemed to care. Apparently this has happened two out of the last three years.

Re: Atlantic City Closing on Wed.
 

when this happened in the past this was only considered a distant possibility, never before has it gone to the ordered shutdown phase. trying to fix the budget losing more money each day by shutting down casinos is retarded. many thanks to the dems

Re: Atlantic City Closing on Wed.
 

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WTF

Seems the budget crisis is about to smack down A.C. bigtime.

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Typical political brilliance. We have a budget problem, so let's shut down the casinos and horse tracks that bring in millions of dollars a day.

I just heard that they are shutting down their lottery until they balance the budget. That will save a lot of money too. The state won't have to pay all those sales commissions to the ticket sellers, and won't have to pay out all those lottery jackpots.

Re: Atlantic City Closing on Wed.
 

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many thanks to the dems

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Yes, I'm sure there are no NJ Republicans associated with this.

Re: Atlantic City Closing on Wed.
 

If you read the article it seems that there are no republicans invololved...I am non partisan but it is obvious that you threw that in just to try to bait republicans here. It is democrats that are in the majority in both houses in NJ and are letting this happen.

What is killing me is that there is probably roughly a 1 to 1000 ratio of Casino gaming commission employees to casino employees and because of Corzine pulling the comission members those thousands are going to go without pay. The regular state employee will get paid back lost wages while those that work on tips and such are never going to recoup their lost wages...

Re: Atlantic City Closing on Wed.
 

No way the casinos will be shut down. What else is there to do in NJ besides AC? Thats like shutting down Wally World or something.

Re: Atlantic City Closing on Wed.
 

They have to be shut down. I think they are not in session mon and tuesday and have to shut down wed at 8 am

Re: Atlantic City Closing on Wed.
 

there was an emergency court session on sunday where AC casions filed an appeal...no word yet that I have seen

Re: Atlantic City Closing on Wed.
 

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there was an emergency court session on Sunday where AC casinos filed an appeal...no word yet that I have seen

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They lost the appeal as everyone expected, casino control employees are not mandatory, there is no life or death situations here.

- For the poster who accused the Dems, the articles I have read accused Corozine of being immovable on his request for increasing sales tax by 1%. Personally I think they are all wrong, but Corozine should have compromised to avoid this horrible result.

TT [img]/images/graemlins/club.gif[/img]

Re: Atlantic City Closing on Wed.
 

Atlantic City political problems.

Standard.

Re: Atlantic City Closing on Wed.
 

Corzine is a retard, it almost seems like he wants end his political career with a full point increase in the sales tax. In NJ there aren't enough republicans to actually blame.

Re: Atlantic City Closing on Wed.
 

The head of the Casino Control Commission told Atlantic City's 12 casinos to lock up at 8 a.m. Wednesday. The casinos are also waging a court battle to remain open, and an appeals court was weighing the matter Sunday. However, there was no word on when a ruling would be made, court spokeswoman Winnie Comfort said.

this is courtesy or the AP which also stated that the NJ senate would be in session today and stay in session until a budget is approved

Re: Atlantic City Closing on Wed.
 

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- For the poster who accused the Dems, the articles I have read accused Corozine of being immovable on his request for increasing sales tax by 1%.

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Did Corzine and the State Legislature majority change registrations overnight?

It is interesting that for all the problems the GOP has right now (nationwide, not just in NJ), the GOP is being allowed to essentially sit on the sidelines while the Dem's implode.

Re: Atlantic City Closing on Wed.
 

Here's an article, if you're interested:

Star-Ledger article

Re: Atlantic City Closing on Wed.
 

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If you read the article it seems that there are no republicans invololved...
. It is democrats that are in the majority in both houses in NJ and are letting this happen.

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If you can show me a voting record where all republicans voted for the proposed budget and any deals the governor recommended, I will take back my post. Otherwise, majority doesn't mean exclusively.

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I am non partisan but it is obvious that you threw that in just to try to bait republicans here

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Not obvious, just your assumption. It wasn't I who was playing political troll:

<font color="blue"> "many thanks to the dems"</font>

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What is killing me is that there is probably roughly a 1 to 1000 ratio of Casino gaming commission employees to casino employees and because of Corzine pulling the comission members those thousands are going to go without pay. The regular state employee will get paid back lost wages while those that work on tips and such are never going to recoup their lost wages...

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I agree with your sentiments here.

The articles I have read make it seem as if this whole thing is due to a power struggle between a new Democratic governor and the NJ Legislature. If the poster I replied to wants to assume it's just the Dems responsible, that's one choice.

Re: Atlantic City Closing on Wed.
 

An analyst on CNBC stated that each day of operations that AC is closed could cost Trump $.01/share in earnings. May not sound like a lot, but that's really a hell of a lot. Other properties that are more diverse, like Harrah's, could be $.01 every 2 days. Clearly anything prolonged could be extremely expensive for the shareholders.

Hmm.. I wonder if the shareholders will try to sue New Jersey. I could see that happening.

Re: Atlantic City Closing on Wed.
 

something like that NEEDS to happen...beginning with the the unions in AC suing and then the hotels and then the stores and beach restaurants and everything else that are going to be destroyed by this.
Insane.

Re: Atlantic City Closing on Wed.
 

This is the first government shutdown in the history of NJ state government. Corzine has ordered the legislature back to session Tuesday at 8am. The NJ consitution gives the governor the power to order the legislation in to session when it is required to secure the public good. The question remains if they will actually report to Trenton or not...

At this point, it looks very likely that the casinos will close on Wednesday. Corzine had a press conference a few hours ago that I watched and it basically seemed impossible that a budget will be presented for signature before then. At this point, no budget has even gotten out of committee.

FYI, NJ cannot be sued over this issue. They are immune in this case because they are in full compliance with the NJ state constitution which is the body of law in play here. The constitution prohibits the state from drawing funds from the state treasury if there is not a balanced budget in place...

The republicans in the legislature really have very little power in NJ at the moment. They are the minority in both houses and do not control the budget committee, thus cannot force a budget to the floor for vote in either house. This is basically a fight between the democrat governor who wants to raise taxes to close a budget gap (God forbid they cut spending instead) against democrats in the legislature that do not want to be labeled as tax raisers because it will hurt their chances at reelection in 2007.

Re: Atlantic City Closing on Wed.
 

I've been a broker for many years. Trust me, shareholder lawsuits don't really care about who can and can't be sued:)

That is a good point, though. I'm just looking forward to a lot of huffing and puffing from The Donald.

Re: Atlantic City Closing on Wed.
 

Oh, trust me, I have no doubt some bottom feeding scum lawyers will file suits, they just don't have much of a case...

...but that has never stoped them before.