A major Wall Street firm is not buying into the Atlantic City rescue package as a long-term solution to the city’s financial woes. Analysts for the agency of S&P Global Ratings have not raised the CC-negative junk credit rating for Atlantic City because they believe a debt restructuring or default is still likely to occur.…
After helping to manage the finances of Atlantic City for five years, the city’s state fiscal monitor will resign as of June 30th. The Press of Atlantic City reports that Ed Sasdelli will step down because he says the state takeover bill requires a monitor who can work full time and he cannot due to…
High winds on Wednesday afternoon were responsible for a partial roof collapse in Atlantic City. The apartment complex at St. James Place and the Boardwalk, across from the Irish Pub, was evacuated by firefighters after 60 mile-per-hour winds caused part of the building’s roof to cave in. Despite the extensive damage and falling debris, no…
Over 13,000 customers lost electrical power Wednesday afternoon due to strong and gusty winds. A wind gust of 66 miles-per-hour was reported at the Millville Airport as storms passed through the area. Atlantic City Electric reported outages in Cape May, Cumberland and Atlantic Counties due to the high winds and short spurts of heavy rain.…
The Showboat Atlantic City held a job fair on Tuesday for about 200 job openings and over 3,000 applicants turned out to apply for the jobs. The Showboat announced last week that they would be opening 852 hotel rooms this July and need a staff of managers, front-desk agents and housekeepers. Many former Showboat Casino…
On Tuesday, New Jersey Democrats in the 2nd Congressional District made their choice on who will oppose 11-term U.S. Congressman Frank LoBiondo in November. David Cole, a 31 year-old former technology advisor in the Obama administration, overwhelmingly defeated Costantino “Tino” Rozzo of Vineland to win the Democratic nomination. Cole is from Mantua Township in Gloucester…
Another accident involving a Garden State Parkway toll plaza on Tuesday. State Police say a pickup truck crashed into the Great Egg Harbor toll plaza shortly after 5pm Tuesday. The driver of the pickup truck was not injured. Police believe the accident occurred when two vehicles attempted to get into the same toll lane during…
On Monday a couple from Atlantic City was arrested for drug possession after they were pulled over for a cracked windshield near the Holland Tunnel in New Jersey. Port Authority Police arrested 27 year-old Maribel Borges and 36 year-old Hector Castro on Monday morning and recovered cocaine, methadone and hypodermic needles during the traffic stop.…
NJ.com reports that the Atlantic City beach patrol is facing a shortage of about 30 lifeguards to cover the resort’s three miles of beaches this summer. There are many reasons for the shortage, including the number of veteran guards who are not returning this year. In an attempt to recruit the needed lifeguards, there will…
The long-awaited project to rebuild the Atlantic City Boardwalk along Absecon Inlet is showing signs of progress. The Press of Atlantic City reports that the $32.5 million project is well underway under the supervision of the U.S. Army Corps of Engineers. The boardwalk at the northern end of Atlantic City has been closed since Hurricane…