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Re: 7-11 Opening in Journal Sq
#1
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Quote:

heights wrote:
I think the residents have just as much of a right if not more not to have a business they don't want as mush as the guy wanting to open the 7-11. The residents of the town should put it up for a vote.



If the 7-11 owner opens up a pharmacy counter surely he'll do good business selling the likes of Paxil, Prozac and Klonopin. Some residents are way too uptight. The best way to vote is to do so with your pocketbook by choosing to patronize the store or not.

Posted on: 2009/12/29 15:41
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Re: a matter of semantics
#2
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Quote:

I see what you're saying - since the workers salaries come from public funds then the source of all payments into their pension plan is ultimately the public. The point I was making is that these workers are being told that their 5.5% payments are being put away for their future (as if they were contributing to an IRA but better b/c the govt is guaranteeing the return). With an unfunded (or underfunded) plan, this is not true - their money is being used to pay benefits today (or maybe tomorrow). As the value of the plan erodes, people are no longer willing to trade off today's earnings for future payments.


You are fully correct except for making it analogous with an IRA. With an IRA or for that matter a 403b, or 401K, you truly make *voluntary* contributions to a retirement plan that makes no guarantee what the value or payout will be when you retire. With a defined benefit plan, like the public employee's pension, it is predetermined, e.g. a defined benefit, what the payments in and equally important what the payout will be.

Quote:
And you're right that it's tricky to project the future value of current payments - not because it's difficult to model the effects of compound interest, but because there's a lot of political pressure to make bad assumptions.


Political pressure is definitely a big component, but "modeling the effects of compound interest" is most definitely tricky. I did such for many years professional as a pension actuary.

For instance, in the most simplest terms, on day one of employment, you know what the pension plan *commitment* is when you retire. Right from the start of your retirement until the time you kick the bucket, on average that's going to be a 60 year commitment/contractual obligation. Financial instrument commitments, like bonds typically last only 30 years.

Quote:

In NJ's case, government based expected returns to its pension savings on boom-time interest rates when it would have been much better to make more conservative assumptions. (The reason there's pressure to do this is that it reduces the amount govt. needs to pay in today to get the same amount out in the future.) Falling interest rates have now coupled with diminishing revenue streams going into the system as government defers payment to choke the pension fund.


That's one factor, but the most costly component, by far, is how life expectancy has increased steadily over the past 1/2 century. Collecting a pension that pays until death after only 20 years of service is exceptionally costly. Life expectancy matters more than investment return.

If you want some idea of such, go to an insurance agent and tell them you want to purchase a deferred life annuity that meets the same as a public employee pension or even similar and less costly criteria like no joint survivor ship option, i.e. make payments for 20 years and start collecting in your 40s. I'd be willing to be you a beer, the monthly premium payment will exceed your rent of mortgage payment.

Posted on: 2009/12/16 20:08
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a matter of semantics
#3
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You are correct as well as the originally poster about the younger workers potentially getting screwed when they reitre.

However, since it's not a voluntary payment and they are public workers, fundamentally, they are not paying for it. Rather it is coming out of the tax payer funded budget of the employer to fund a (post retirement) defined benefit.

In practical terms, the employer has decided to pay you less today (salary) in lieu of paying you (in retirement). An alternative would have been to either raise taxes or freeze/ cut public employee salaries to continue to properly fund the pension. Obviously that's not a popular decision.

If the public fully understood how difficult it is to project the future, decades away coupled with how much it costs to fund an individual worker's pension who works 20 years and then collects on average retirement benefits 40 years there after, one would be quite shocked. It will only get more costly as life expectancy continues to increase.

Think about that, really. Contribute and save for 20 years, at today's value of a dollar, with the expectation that you will be able to live comfortably (e.g. account for inflation) for another 40 years on that savings.

Posted on: 2009/12/16 17:59
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Re: City Council will vote on $130,000 contract to move "wayfinding'' signs out of the way of sidewalks.
#4
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Excellent point. Nearly 5,000 per sign to be moved. What the ...?!?!

One would think having 2-3 ton fast moving objects regularly running through red lights would be a bigger concern for pedestrians than having a stationary sign in the middle of a sidewalk. There's certainly been much public discussion about the former; can't say the same for the later.

Who took the initiative for this? And where does the money trail lead to and from Fletcher Creamer & Son, Inc.?

Posted on: 2009/12/16 17:01
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wrong channel. here's the remote
#5
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Quote:

Erica wrote:
I actually feel kind of sorry for the younger JC employees who are paying into the pension system


Their employer is making the contribution to the pension or in this case deferring payment.

Posted on: 2009/12/16 16:53
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Re: Murder @ Paulus Hook Towers
#6
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Ughh. This is very shocking and upsetting news. More so, for me, personally, if I put two-n-two together, and correctly believe the father is the same whom drops his young boy off to school at PS 16 to ride the school bus with my daughter on route to PS 3 for the past couple years. Pappi really admires his son and gives him plenty of TLC. Due to this mornings downpour, I skipped the bus stop routine. Regardless, my thoughts and prayers go out to the Reyes family...

Posted on: 2009/12/9 17:28
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Re: Jersey City's Libraries
#7
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Quote:

kizzeface wrote:
I hate to say it, but I think the city's libraries are pretty pitiful. There is a dearth of interesting new literature, they have difficulty keeping track of their inventory, and the hours are generally more suited to the unemployed than those of us who actually work and don't get home until after 6:00 or 7:00 at night. I'm an avid reader, and I make much better use of the Grace Church Sunday used book sale than the city's "libraries."


Well, I wont "say it", but instead write it: the libraries are open on Saturday and until 8pm twice a week.
http://www.jclibrary.org/libinfo/hours.php

Posted on: 2009/12/7 17:54
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Re: Running on the Jersey City streets
#8
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I would not run with an IPod for safety reasons - like general awareness and being a target for theft.

Posted on: 2009/10/26 17:41
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Vega's voting record
#9
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Well back in July the city council voted for a no confidence resolution against Council President Mariano Vega. Mariano did not abstain and voted "no". That's an ethics violation, for sure. He also missed the subsequent Council meeting because he decided it was more important to meet with his attorney that he hired. Below is a picture of the two.

It's par for the course that he will vote on Kenny's replacement.

Resized Image

http://www.nj.com/news/index.ssf/2009 ... y_council_defeats_no.html

Posted on: 2009/10/8 13:56
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Re: BREAKING NEWS: Mariano Vega (finally) resigns; Phil Kenny forfeits his seat as well
#10
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Ward B election - that's a great idea.

Posted on: 2009/10/6 21:01
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Re: Steven Fulop is on WNYC Monday 10/5/09 (93.9FM & 820AM)
#11
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Quote:

lefty55 wrote:
I heard the interview, Fulop is gearing up for his next move. Over all he was pretty soft on the developers. It takes money to run for the next rung on the ladder doesn't it Steve?


Councilman Fulop just pushed through the most restrictive pay-to-play ordinance in the Garden State just a short while ago. As a result there wont be much money to pocket in political contributions the next election. How much tougher would you like him to be? It's one thing to be tough, but chase 'em all out of town would be silly. Real Estate Developers can be a public good.

Posted on: 2009/10/6 14:59
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Re: Wayne Street Residents
#12
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This is great news. Good luck with this endeavor. I don't live in the area, but visit one of jersey City's treasures, the Barrow Mansion from time to time on Wayne Street.

Posted on: 2009/10/6 14:33
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May I further fan the Fulop flame?
#13
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Speaking of fanning the flames...How about you stop with the spamming of JC List with your blog? It's amateurish, poor form and the frequency is a bit long in the tooth. If you really have something interesting to write, I might be inclined to visit your blog after reading your comments here.

Posted on: 2009/9/16 18:03
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Re: Fulop says he wants to be mayor, not an at-large council member
#14
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Well stated, AmyJCNJ. I could not agree with you more. Thanks.

Posted on: 2009/9/16 15:55
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Re: PATH (pathetic attempt at transporting humans)
#15
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Why would anyone be surprised with such results? The survey design is flawed and self selecting while hosted with a moniker of "PATHSUX".

If the survey were more objective, the results may very well be the same, if not similar. It would also make a much more credible argument when presented to the folks at PATH and better use of everyone's time involved.

Posted on: 2009/9/3 15:22
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Re: Jersey City Government Corruption Scandal - 16 arrested
#16
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You don't need to be "convicted of anything" to be removed from office. Just ask the most recent Governors of New Jersey, New York and South Carolina if you need an example. Vega violated the trust of the public that is why he should step down from office.

If your employer thought you had taken a bribe, he'd fire you. That's reason enough, much like a spouse filing for a divorce because she thinks her husband is cheating on her or a teacher accused of molesting a student being immediately removed from the classroom.

The city electorate has no confidence in his abilities to govern. Vega's position remains ineffectual, in part, by his own intentional action. He missed the last council meeting because he had to meet with *his* defense attorney. Evidently, by his own conviction, his job is secondary to working on his defense. Vega could have easily rescheduled the meeting with the attorney he employs so he could attend the Council Meeting to which he presides as President.

Posted on: 2009/8/20 14:11
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Dead Again
#17
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Quote:
It actually isn't unusual.


Okay. But I did not miss the irony in your post.

Quote:
Most suicide victims do not leave notes. And according to Canadian researcher Dr. A. Leenaars, who has extensively studied suicide notes, the percentage of those who leave notes varies from 12 to 37% percent.


Varies? Hmmm. there's something quite illogical or perverse or both with that series of statements. Maybe the text should read as follows:

Most suicide victims require many attempts. And according to Canadian researcher Dr. A. Leenaars, who has extensively studied suicide, the percentage of those whom successfully kill themselves varies from 12 to 37% percent.

Posted on: 2009/8/15 12:23
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Is amateur hour over?
#18
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Quote:

***YES I READ YOUR SOURCES. AS I SAID AND YOU SEEMED TO NOT CHECK THE FACT THAT I WAS RIGHT THAT THE JCPD LEAVES "HOMICIDES" OUT OF THE WEBSITE



The JCPD accounting is for Homicides, period, as defined by and in compliance with the FBI's CRIMESTAT Uniform Crime Reporting that thousands of municipalities participate in. This information is documented in great detail at the FBI website.

Your multi-sourced data contains a mixture of Murder and Homicide data as evident by my validity check. Therefore your analysis is faulty because the data is a heterogeneous mixture of crime data. Additionally, one must be sure that the two sets of data contain a consistent accounting of crime as well as a consistent taxonomy (e.g homogeneous data).

Your MULTIPLE data sources do not clearly specify that information. The same is true with the other poster in this thread, JC_DowntownRegular. It's more than just adding up numbers; one has to understand the underlying data they are handling. Unfortunately, for this discussion to be remotely of further interest, there is one other hurdle to get over, that being: innumeracy. That bar of has been set quite high.

Posted on: 2009/8/7 12:27
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You misread the article
#19
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Quote:

mrrogers wrote:
Pretty stupid of this girl april to tell the press what they were planning before they even got to court.Judges don't like to get Sandbaged.
How did she know Jimmy King was trying to drop the case,are they working with him?


When King learned of the news, he promptly filed a lawsuit demanding to have her disqualified on the grounds she's not a Jersey City resident. King now has more important matters on his hands, so he dropped the suit. But the third-place finisher in the race is picking the suit up. Norrice Raymaker filed yesterday to continue the suit to have Lopez's victory tossed out.

Posted on: 2009/8/6 20:40
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Re: Liberty State Park - Is it safe to breathe the air there?
#20
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Did it rain so much that Freedom Way was flooded and well beyond to the fenced off area? Answer: No. And how is that relevant to the OP's inquiry: with the soil in LSP being disturbed recently...? Do you have anything to non-hysterical write?

Posted on: 2009/8/6 20:37
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Hysteria is in the air
#21
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The area fenced off to the west of the park, with the "hazardous material" signs, is contaminated. The park itself is man-made land fill that was once home to railroad yards. The closed off land behind the interpretative center contain hazardous material but has been removed since bein gopen to the public.

http://www.nj.com/news/index.ssf/2009 ... searchers_study_poll.html

Posted on: 2009/8/6 19:59
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Re: apples and oranges
#22
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Misplaced quote tag. I should not be quoting myself. Sorry for the confusion. Below is my reply.


Your #s do not reconcile.

I listed #s from 2005 - 2008, from one source, for homicide. Comparing those #s with what you provided, over that same time period, sourcing figures from two different sources, the numbers match for 2005 & 2006, comprising of one source, but not from the other for 2007 & 2008.

In other words I am concluding that your #s are not consistent as in 2005 - 2006 are "homicide" numbers and the 2007-2008 are "murder" numbers. Murder and homicide are not one in the same - they are two different taxonomies when enumerating crime stats.

Not only does one need to be mindful of the crime taxonomy/classification but also the methodology in accounting for such crime. For instance, UCR and NCVS are two different methodologies. How data is accounted for and classified must be consistent.

Posted on: 2009/8/6 12:57
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Re: apples and oranges
#23
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Quote:

JerseyCityNj wrote:
[quote]
The reason the numbers are different.....


Your #s do not reconcile.

I listed #s from 2005 - 2008, from one source, for homicide. Comparing those #s with what you provided, over that same time period, sourcing figures from two different sources, the numbers match for 2005 & 2006, comprising of one source, but not from the other for 2007 & 2008.

In other words I am concluding that your #s are not consistent as in 2005 - 2006 are "homicide" numbers and the 2007-2008 are "murder" numbers. Murder and homicide are not one in the same - they are two different taxonomies when enumerating crime stats.

Not only does one need to be mindful of the crime taxonomy/classification but also the methodology in accounting for such crime. For instance, UCR and NCVS are two different methodologies.
How data is accounted for and classified must be consistent.

Posted on: 2009/8/6 1:23
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Re: 20th HOMICIDE SO FAR THIS YEAR
#24
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Quote:

DouglasReynholm wrote:
What is the over under, 30 ? What would be the one thing that would stop the crime rate in Jersey City, because, if you live outside of downtown, some of the neighborhoods are ignored, imporverished and with an even higher unemployment rate, crime would naturally rise, unfortunately.


That's a nice assertion, but the numbers do not back it up. The East (District) which comprises downtown is always a contender for top crime spot among the 4 locations.

Posted on: 2009/8/5 20:35
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apples and oranges
#25
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That's a commendable effort, JerseyCityNj, but you do realize the data you list contains a mixed bag of homicide and murder counts. From the numbers I furnished, it makes a material difference when doing the yearly comparison.

Posted on: 2009/8/5 18:53
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Where are you sourcing your numbers?
#26
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Where are you sourcing your numbers? 2005 and 2006 are the same, but 2007 and 2008 differ from: the Jersey City Police Department's CRIMESTAT/UCR website (http://www.njjcpd.org/)


Year City Wide Homicide Count
2005 38
2006 22
2007 16
2008 22
2009 15 (through June 30th)


Perhaps it comes down to the definition of Homicide and Murder.

The homicide reported by the JCPD is really "criminal homicide" as defined by the UCR handbook here (starting @ page 15):

http://www.fbi.gov/ucr/handbook/ucrhandbook04.pdf

Definition: The willful (nonnegligent) killing of one human being by another.

Posted on: 2009/8/5 15:09
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Re: Music festival leaves Liberty State Park a muddy mess - reminded many of the 1969 Woodstock festival
#27
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If you read the latter half of the article you will see why Sam Pesin, President of the Friends of Liberty State Park, is completely on board with APW. If that is not enough then there's comments like this: "We pride ourselves on leaving the park in better condition than how we found it," said producer Ken Tesler of Liberty Events Management.


It's public space put to good public use. That area of the park is way under utilized the 362 other days out of the year. I did not attend the music festival, but I do support LSP and I'm all for it.

Posted on: 2009/8/5 13:40
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Goldman "Sacks" building which by rights should be owned by the American taxpayer.
#28
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Posted on: 2009/8/5 13:34
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Re: Corzine to freeze funding for cities involved in corruption
#29
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Two thumbs up for Governor Corzine for doing the right thing. That's quite an incentive. Let's hope Jersey City is next.

Additionally, after a nice house cleaning (yes, a big assumption), let's hope the City Council in the future will push through Councilman Fulop's past and future initiatives for removing the incentives that help breed corruption like pay-to-play and multiple office holdings.

Hey, one can dream, right?

Posted on: 2009/8/3 19:09
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Slip of the lip? Peter Cammarano admits guilt?
#30
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Thanks, covetalker.

Parsing Peter Cammarano's written words, if I may....

If you read closely, using pure logic, it's an admission of guilt. Specifically it is these words written, "It has been my hope and expectation that I could remain in office and perform my official duties until I had the opportunity to resolve the legal charges against me in court."

The key word here is "until" as in up to the time that I am incarcerated. Logically one may reason this means: I remain in office until I am imprisoned. If exonerated, naturally he would still remain in office after resolving the legal charges and not limited to "until".

What he should have written is, "It has been my hope and expectation that I could remain in office and perform my official duties while I have the opportunity to resolve the legal charges against me in court."

or better yet:

"It has been my hope and expectation that I may remain in office and perform my official duties while I successfully prove my innocence in court."


Or perhaps I'm way off base? I may very well be. That's my 1st impression. then again, I find his style of writing for the entire letter is quite awkward.

Posted on: 2009/7/31 15:20
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