Re: What does everyone think of the Bailout?
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Based on the Dow Jones Wilshire 5000 Index, almost $1.3 trillion was erased from the value of U.S. stocks today. That's the most ever for that index and almost double the size of the bailout authority Paulson is requesting from lawmakers.
I think the premise of a bailout is wrong. This is morally equivalent to someone who goes to Vegas, wins millions of dollars, and then goes back and loses those millions, and then asks the government for help. That being said, the government cannot just let Wall St. fail. These firms employ thousands of people. Not only that... the existance of these firms are essential to consumer credit. We can't go back in time and stop predatory lending, irresponsible borrowing and rating agencies misleading investors - so I think the bailout is essential to stop the bleeding. Yes, I do think that the firms who take the bailout should have to surrender a significant amount of their profits, which would in turn limit pay. And they should be heavily regulated. As much as I think it might be a moral hazard, I think it is much better than the alternative.
Posted on: 2008/9/29 22:29
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Re: How many people does Lehman Brothers employ in Jersey City?
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Quite a regular
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AIG had to be bailed out. If AIG would have failed, you would have seen many, many other institutions go right along with them. Did they make a mistake insuring bad mortgage-backed securities? YES. But they aren't the only ones - blame subprime borrowers, brokers, lenders and investors for this mess. Oh, and market deregulation. Unfortunately, borrowers didn't read the fine print about ARM's and many times put nothing down - therefore had nothing to lose when they defaulted on their loan. And brokers still got paid their commission upfront whether borrowers defaulted or not. So the lenders and investors were the ones who lost big. Unfortunately there's no time machine to go back and fix all this... just very curious to see if AIG will be able to raise cash to pay the Fed, how the remaining Wall St firms will fare - and also how the real estate market here will hold up.
Posted on: 2008/9/17 2:53
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Re: How many people does Lehman Brothers employ in Jersey City?
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Quite a regular
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Trying to be positive here... financial firms looking to cut costs may look to lease office space in NJ rather than NYC where the cost per square foot is much higher. A few years ago the firm I had worked for was afraid to move lots of their employees to NJ because the initial reaction was so negative (they did the move anyway and many employees left the firm as a result). But today the attitude is different - most people in the industry feel lucky to have a job. I'll be interested to see how long it will take for the Lehman office space to be taken over by another tenant.
Posted on: 2008/9/15 16:25
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COSI in GS building
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FYI... Cafe Ritazza in the Goldman building has closed and is being replaced by Cosi.... it will be open in September. I'm confused because there are signs for another Cosi opening right by the Exchange Place light rail but that sign has been up for a while so maybe they changed their mind about the location. Hmmm....
Posted on: 2008/6/26 20:08
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Re: Court For JC Speeding Ticket?
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Quite a regular
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I had a 4 point ticket and the prosecutor said it would be reduced to zero if I took the $350 deal. Most of the other people there had two-point tickets and he had said to me that he definitely recommended that I take the deal because I wouldn't want 4 points on my license.
FYI - I was pulled over right near the Beacon on Montgomery... there is a speed trap there so be careful!
Posted on: 2008/6/11 12:14
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Re: Court For JC Speeding Ticket?
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Quite a regular
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I got a speeding ticket in JC last year and went to court to fight it (was not going to have 4 points put on my license without a fight!) and they put all the people with traffic offenses in the courtroom with the prosecutor - I did not bring a lawyer. For first-time offenders the prosecutor offered a plea deal where you pay $350 for pleading guilty to a no-point offense (forgot what it was)... much more expensive than the $105 ticket but I did not want the points. I was there for about an hour and a half because we had to wait for the prosecutor. Just be prepared to cut the check right there because if you don't have it I think you have to come back to court at another time - or wait longer to talk to the judge. Hope this helped!
Posted on: 2008/6/10 17:43
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Re: Gargulio's Pizza.
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Quite a regular
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FYI - Pizza Alla Garguilo is opening next Monday... If you stop by while they are working on the place (during the day) you can grab a menu.
For the person who asked about Van Houtte - looks like it still has a long way to go
Posted on: 2008/6/3 17:54
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Re: Condo near P.O.?
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Quite a regular
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Montgomery Greene is very close to the post office and PATH but I think the only apartments left through the sales office are the penthouses, or resales (might want to check with local realtors and/or Craigslist).
Posted on: 2008/5/27 14:41
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Re: Wine Bars in JC - near Paulus Hook?
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Quite a regular
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City Vino is great, and they have free tastings on Mon. & Thurs. in addition to their Tuesday tastings. Be sure to try the "Henry" cabernet!
Posted on: 2008/5/22 18:13
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Re: 50 Columbus and Applied Rip Off Fees
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Does the amenities fee at 50 Columbus include the Club H gym? And the pool? If so, then $500/yr isn't a bad deal. If the gym is an additional fee then that's a bit much. I lived in 333 River (an Applied building) and we had conceierge but no pool and a small gym with older equipment so there was no amenity fee there, but I know my friend in Applied's Shipyard complex paid the optional amenity fee so she could use their pool and gym (which was larger and nicer). As for the pool guest pass, I think $10 per non-resident is a necessary fee (its the same at the Shipyard) because if they had no fee or if it was only $5 then the pool would be too crowded - I don't think they are trying to make a quick buck
Posted on: 2008/5/20 17:25
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Re: Hoboken: Sought in 2 lewdness incidents - walked up to young women on the street and masturbated
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Quite a regular
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My friend was the victim in the second incident... hopefully they catch this perv
Posted on: 2008/5/16 20:12
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Re: Gargulio's Pizza.
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I walked by again this morning and there is a soda machine and tables/chairs in there. I'm hoping to run into the owner or someone who knows when they will open
Posted on: 2008/5/14 22:09
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Re: Gargulio's Pizza.
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Quite a regular
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I've walked by a couple times and it looks like the storefront/windows are finished and they are doing work on the inside... not sure when they are expecting to open but I am looking forward to it! Work is also being done on the Van Houtte Cafe in Montgomery Greene
Posted on: 2008/5/5 21:56
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Re: John's Pizza
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Went to John's twice last week, once for takeout and the other time had dinner outside... when I ordered takeout I too noticed that the pizza was kind of cold by the time I got back to my office (and its not a long walk!). Having dinner there was much better, the food was great. Definitely want to try the white or bruschetta pie next time!
Posted on: 2008/4/22 21:55
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Re: Whole Foods in JC?
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Quite a regular
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Parking isn't an issue for a Whole Foods opening in downtown JC because there are stores in NYC with no parking at all. I think it would do very well if it is close to a light rail station, and I would love it because then I wouldn't have to deal with River Road traffic driving to the Edgewater store! I agree with other posters that Shop Rite/A&P wouldn't lose any business because its too expensive to do ALL your shopping there, its best for their prepared items, cheese, produce, hard-to-find spices...
Posted on: 2008/3/21 17:28
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Re: An Open Letter to You, My PATH Nemesis
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Quite a regular
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This thread is too funny, and I have a story of my own to share!
A friend and I were taking the PATH home at 4 a.m. on a Saturday night and this guy (meathead-looking) was pacing around the train. He grabbed one of the bars above the seats and started doing pull-ups. Then (no joke) he started licking the window and kissing it. Bizarre... He probably should have stayed at whatever club he was in until his "high" wore off!
Posted on: 2008/3/14 19:11
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Re: Skinner's Loft... delish!
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Quite a regular
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I've been to Skinner's twice and really like the place... haven't tried any entrees but had the lobster ravioli appetizer (on the specials menu), the mac n' cheese and spring rolls and all were very good. They also have a couple wines by the half-bottle, which is great!
Posted on: 2007/12/26 21:19
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