More bad news for Atlantic City’s newest casino. Revel had its credit rating downgraded by Standard and Poor’s to a “D”. The new rating is the lowest a corporation can receive. Revel is not making its most recent interest payment, which led to the downgrade. Revel announced its plans to go through a Chapter 11…
A high ranking business leader is happy with the news ahead of the 2013 tourism season. Cape May County Chamber of Commerce President Vicki Clark said that calls for rentals are coming earlier this year. President’s Day weekend was the typical kickoff for reservations, but calls have been coming into local motels as early as…
Lower Township taxes are going up based on the introduced budget. A 2.9 cent tax increase was proposed during the Wednesday meeting. This means a property assessed at $100,000 would pay $29 more in taxes per year. The budget would use 20 percent of its surplus or $440,000. Since 2009, the tax rate has only…
A big endorsement has finally gone the way of the Democrats. The Professional Firefighters Association of New Jersey announced that they are endorsing Barbara Buono in her bid to unseat Gov. Chris Christie. Democrats typically get union support, but Christie picked up some key early endorsements. The union has about 4,000 members in the state.
While some have lost confidence in Revel, don’t count Gov. Chris Christie among those. Christie said on Wednesday that he believes the casino will survive the Chapter 11 bankruptcy and will come out stronger. The governor said during a news conference that if Revel was doomed the owners would close it down. Revel was given…
New Jersey residents are generally happy with the speed of recovery in the state. A new Monmouth University poll says that 7-in-10 New Jerseyans say they are very (26%) or somewhat (45%) satisfied with the state’s recovery effort so far. Only 22% are dissatisfied. Garden State residents are generally, although not overwhelmingly, confident that federal…
A Galloway man has been indicted for leaving the scene of a fatal accident that claimed the life of an Atlantic City man last summer. An Atlantic County Grand Jury indicted Leo Strazzeri, 42, for second-degree leaving the scene of a fatal accident in connection with a hit-and-run that left 45-year-old Daniel Tavarez dead. Second-degree…
Discussions are taking place on Wednesday over the first batch of money to be released by the Hurricane Sandy New Jersey Relief Fund. The committee formed by Mary Pat Christie, the wife of Gov. Chris Christie, is talking about the first pot of $1 million it plans to disperse. Another $5 million is available for…
The approval rating for Gov. Chris Christie remains really high. A new Quinnipiac University puts Christie’s approval rating at 74 percent. The poll also says that the governor has 71 percent of state voters who thinks that he deserve reelection. The poll says the main Democrat in the race, Barbara Buono, is next to unknown…
According to NJ State Senator Jeff Van Drew, a bill passed by Congress last summer could severely raise flood insurance premiums for Jersey Shore residents. Van Drew sent a letter to several South Jersey Congressman, urging them to revise the Flood Insurance Act of 2012, which could cause a significant rise in premiums for homeowners. The…