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Elinor Comlay

Atlantic City, United States of America
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About Elinor
Elinor Comlay is a journalist based in Atlantic City, United States of America. Elinor speaks fluent Spanish and French and has experience covering immigration, politics and social issues as well as banking and business. She is a British national who previously worked with Reuters in Mexico and New York.
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AC Needle Exchange Seeks To Delay Move To Mobile Unit

06 Oct 2023  |  rtforty.com
The Atlantic City Council is urged to delay moving the state's largest needle exchange to a mobile unit, as it could limit access and was drafted without consulting health care professionals. Carol Harney, CEO of South Jersey Aids Alliance, emphasized the need for consultation with health leaders and securing funding for the mobile unit. The New Jersey Department of Health's involvement in the ordinance is unclear, and the Casino Reinvestment Development Authority is expected to help fund the move. The South Jersey Aids Alliance's needle recovery rate has improved, but it still lags in getting members into recovery treatment compared to smaller programs.

ACPD to Make Department History Naming Latino Officer to Lieutenant

03 Oct 2023  |  rtforty.com
The Atlantic City Police Department will promote Sgt. Wilbur Santiago to Lieutenant, marking the first time a Latino has held this rank in the department's history. This promotion comes amid calls from community organizers and the Hispanic Alliance of Atlantic County for greater representation of Latinos in the police department's upper ranks. Santiago will be sworn in at a ceremony at City Hall.

New Tennessee Ave Pizza Place Gets NJEDA Grant

01 Oct 2023  |  rtforty.com
A new pizza-and-cocktail-bar, Rhythm & Spirits, will open this summer on Tennessee Avenue in Atlantic City, funded by a grant from the New Jersey Economic Development Authority. The project, led by developer Mark Callazzo and operated by Lee Sanchez, aims to use fresh, sustainable ingredients and offer diverse entertainment. The NJEDA grants, established under Gov. Christie, support street-level businesses in the area, including MADE chocolate bar. The Tennessee and New York Ave businesses are marketed as the 'Orange Loop,' with more developments planned.

CRDA Considers “Laptop Lounges” For Convention Center, Should It Think Bigger?

01 Oct 2023  |  rtforty.com
The Casino Reinvestment Development Authority (CRDA) is exploring the idea of creating laptop lounges in the Atlantic City Convention Center to provide businesspersons with a space to work during conferences. The project, still in the proposal stage, aims to renovate existing telephone rooms into modern electronic device lounges. While the CRDA has not yet considered using the space for co-working, the Atlantic County economic development strategy includes such a goal. The Convention Center, which is struggling financially, could benefit from this initiative. However, challenges such as high internet costs and outdated decor remain. The center is also set to host a data center by Continent 8, highlighting its potential for business use.

Mapping New Jersey’s Shrinking School Districts

01 Oct 2023  |  rtforty.com
More than half of New Jersey’s school districts have experienced a decline in enrollment over the past six years, driven by population shifts towards urban areas and net migration out of the state. The trend is particularly pronounced in the Northwest and Southern shore communities. Factors include millennials' preference for urban living and delayed family planning. While overall state enrollment has remained flat, some districts have seen increases due to immigration and charter school growth. The trend raises concerns about the future economic health of New Jersey and the potential need for school district consolidation.

Breathe, It’s After School

01 Oct 2023  |  rtforty.com
Laurie Egrie and Linda Coyle are leading a 'mindful movement' program in Atlantic City's Sovereign Avenue and Richmond Avenue schools, teaching students mindfulness and socio-emotional learning techniques. The program, which includes breathing exercises and visualization techniques, aims to help students manage stress and anxiety. Initially met with some resistance, the program has gained acceptance and is set to expand to more schools in the district. The initiative has received strong support from school principals and district officials.

Construction Could Start in Spring for Next Orange Loop Phase

01 Oct 2023  |  rtforty.com
Construction for the next phase of the Orange Loop entertainment and apartment project in Atlantic City could begin in the spring. This phase includes a 10-room hotel, retail and apartment space, an entertainment area, and a parking lot. The project, overseen by the Casino Reinvestment Development Authority, will be located along South New York Ave and St James Place. Developer Pat Fasano, who recently opened Bourré nearby, aims to start once construction drawings are completed and permits are filed. The Orange Loop also features various venues on Tennessee Avenue.

Atlantic City Seeking Public Input On Flood Plan

01 Oct 2023  |  rtforty.com
Street flooding in Atlantic City has worsened, with high tides and a clogged storm-drain system causing frequent issues. Fire Chief Scott Evans and consultant Jim Rutala are working on a flood management plan to raise houses, improve bulkheads, and install stormwater pumps. The plan aims to help residents qualify for larger flood insurance discounts. Public input is being sought to prioritize work and secure federal and state funding. Residents raised concerns about ineffective FEMA grants, the Baltic Avenue Canal, and maintenance of bulkheads. City officials are addressing these issues through various initiatives, including potential low-interest loans and engineering projects.

Atlantic City Looks To Repeat Summer Camp Success

22 Aug 2023  |  rtforty.com
Atlantic City successfully launched city-run summer camps for the first time, benefiting hundreds of children. Mayor Marty Small, driven by a passion for community services, aims to expand these programs to include seniors and other underserved residents. The city received a $1.5 million anti-violence grant, which helped fund the camps, resulting in no gun violence deaths this year compared to nine last year. Despite challenges, including coordination with the school district, the camps saw impressive turnout and positive community feedback. Plans are underway to expand sports and recreational activities year-round.

Around The Island Swim Relay Team Gets Ready For Aug. 9

09 Aug 2023  |  rtforty.com
Local high school students are preparing for the 56th Around The Island Swim, a 22.75-mile relay race around Absecon Island, as part of the Jim Whelan Open Water Festival. The team, coached by Joe Haney, includes James Haney, John Sahl, Gavin Neal, and Patrick Armstrong, all of whom are local lifeguards or in training. The event is hosted by the nonprofit Green Whales, Inc, which supports swimming lessons for Atlantic City students and a Special Olympics swim team. The race honors former Atlantic City Beach Patrolman and New Jersey Senator Jim Whelan.

The rise and fall of Pali Capital

05 Apr 2023  |  Reuters
The article by Elinor Comlay discusses the rise and fall of Pali Capital, a boutique investment bank that thrived during the 2008 financial crisis by hiring talent from failing Wall Street giants. The company, co-founded by Bradley Reifler and Bert Cohen, was known for its lavish spending and aggressive expansion. However, Reifler's combative nature and penchant for litigation led to numerous lawsuits, which ultimately contributed to the firm's downfall. Despite attempts to sell the company, Pali Capital's financial burdens from legal fees and the loss of key personnel led to its closure. Reifler's personal guarantee on a loan and his continued litigious behavior are highlighted as factors in the company's demise.

Arrawanna Allen – Obituary

15 Oct 2022  |  rtforty.com
Arrawanna Allen, aged 85, passed away peacefully on October 15, 2022, in La Quinta, CA. Born in Rochester, NY, and raised in various cities, she was deeply involved in civil rights activism, working with notable figures like Rev. Ralph Abernathy and Dr. Martin Luther King Jr. A graduate of Rutgers University and a member of several prominent organizations, she served Atlantic City for over 30 years in City Hall. Known for her intellect, activism, and humor, she was a beloved figure in her community.

Who Is Responsible For What In Atlantic City? And How Can Citizens Have Their Say?

15 Sep 2022  |  rtforty.com
Atlantic City operates under a unique governance structure where local citizens elect the mayor and council, but significant planning and development are controlled by the state through the Casino Reinvestment Development Authority (CRDA). The state also oversees city spending under emergency powers. Local residents have limited engagement opportunities with state decision-makers, as the Atlantic City Restart And Recovery Working Group does not meet publicly. The article details the roles and contact information of various city council members and state and federal representatives, highlighting the complexities and challenges in local governance and citizen participation.

CRDA To Hear Planning Applications For AC Marijuana Growing Facility And Three Dispensaries

18 Aug 2022  |  Route 40
In Atlantic City, three retail cannabis dispensaries and a 125,000-foot cannabis growing facility are seeking planning permission. The dispensaries aim to repurpose buildings formerly housing a soup kitchen, a check-cashing location, and a video rental store. The growing facility, proposed by Starboard Enterprises, would be near The Walk retail outlets. The Casino Reinvestment Development Authority will hold a public hearing to discuss the plans. Investors Jon Cohn and Craig McHugh, who operate a facility in Exton, PA, are involved in the project. Other companies, Legal Distribution and PG Health, are also applying for dispensary openings, with local and Cherry Hill backing respectively. Ron Seagraves, owner of a building sought by Everest Dispensary, supports the initiative for its potential positive impact on the city.

Vacant Lot Watch, Donut Edition

18 Aug 2022  |  rtforty.com
The commercial-plus-residential space at 4400 Ventnor Ave in Atlantic City, long marked by 'coming soon' signs for Drip 'n' Scoop, may soon see development. Owned by Robert Idell and family under 4400 Investments, the project faced funding and COVID-19-related permitting delays. Atlantic City is now considering a Section 108 loan backed by Community Development Block Grant money to support the project.

Everything Else We’re Watching – July 29, 2022

29 Jul 2022  |  rtforty.com
Atlantic City issued a notice for a former rooming house on S Tennessee Ave, with the outcome of a hearing unknown. The city approved Orsted Wind Power North America's site plan for a new facility. A city-owned property was transferred to a nonprofit for affordable housing, highlighting the city's housing crisis. Stanley Holmes Village redevelopment is delayed until at least 2023. The city published new requests for proposals for various projects. Upcoming events include a Midsummer Celebration by the Atlantic City Arts Foundation, Jazz On The Boardwalk featuring Stefon Harris, and the Around The Island swim festival. The British Film Institute reflects on the 50th anniversary of 'The King Of Marvin Gardens,' set in Atlantic City.

Atlantic City Residents Can Ice Skate For Free At Skate Zone

28 Jul 2022  |  rtforty.com
Atlantic City residents can now enjoy free ice skating at the Atlantic City Skate Zone on Fridays and Sundays from 12:30 pm to 2:30 pm, following the city's acquisition of the rink from the Casino Reinvestment Development Authority and a new ordinance by the city council. Non-residents are charged $10 for general admission, $15 for freestyle or open hockey, and $4 for skate rentals.

Sister Jean’s To Reopen For Hot Food

06 May 2022  |  rtforty.com
Sister Jean’s Soup Kitchen, which closed in 2019, has received city approval to reopen at a new location within St Monica’s Church on Pennsylvania Avenue. The kitchen will offer hot food and takeout meals soon, complementing its current services as a food pantry and clothing provider. The community garden run by C.R.O.P.S. is also located at the church. The organization has not provided a specific reopening date.

Everything Else We’re Watching

06 May 2022  |  rtforty.com
The Atlantic City Ballet canceled two consecutive shows, with dancers expressing frustration over last-minute notifications. Local earmarks in the spending bill include significant funds for South Jersey projects, such as recreation complex rehabilitation, flood mitigation, and small business assistance. Upcoming events include the New Jersey’s 3 Bridges Run, a herb-growing workshop, and the opening of North Beach Mini Golf. Key figures mentioned include Phyllis Papa, Arlin Padilla, Peter Caporilli, Jeff Van Drew, Bob Menendez, Cory Booker, Jesse Kurtz, and Caren White.

Boraie Development Snaps Up Lots Next To 600 NoBe

06 May 2022  |  rtforty.com
Boraie Development has acquired lots next to its Atlantic City apartment complex, 600 NoBe, for $1.75 million. Wasseem Boraie stated the purchase aims to clean up the area and prevent unauthorized parking. The acquisition includes several lots but excludes Mel’s Furniture and some city-owned properties. Boraie believes Atlantic City can absorb new residential units over the next few years, similar to other revitalized areas like Asbury Park and Wildwood.

Everything Else We’re Watching

15 Apr 2022  |  rtforty.com
Reed’s Farm is partnering with Cape May’s Hawk Haven Vineyard to offer wines at their market in Egg Harbor Township. Atlantic City’s Ducktown neighborhood may undergo historic preservation efforts, with the city seeking bids for grant management and infrastructure projects. The Atlantic City Board of Education is maintaining in-person only meetings despite trends towards hybrid formats. Stockton University is hosting a community day event in Atlantic City. A Bloomberg Philanthropies report highlights the positive impact of murals and crosswalk art on reducing traffic accidents.

Atlantic City’s Microgrid Design Cost Three Times As Much As Others In NJ

15 Apr 2022  |  rtforty.com
Atlantic City's proposed microgrid design, intended to generate power during blackouts, is notably more expensive than similar projects in New Jersey, costing three times more than other designs. The design, created by DCO Energy and associated with Joseph Jingoli, focuses on powering the hospital and is based on the existing thermal energy network. It received a $1.125 million state grant despite poor scoring from the Board of Public Utilities for not incorporating renewable energy and protecting enough critical infrastructure. This allocation of funds prevented Paterson and Camden, two of the state's poorest cities, from receiving design application funds. In contrast, Montclair's design, which was awarded a $679,500 grant, would power nine critical facilities with solar and battery energy.

Former Vacant Lot Watch: Water Park Edition

15 Apr 2022  |  rtforty.com
The vacant lot on the Inlet side of The Showboat, previously a muddy puddle, is now showing signs of construction activity. The water park is scheduled to open next summer, according to site owner Bart Blatstein, who also mentioned that the building is being manufactured in Toronto.

Everything Else We’re Watching

08 Apr 2022  |  rtforty.com
3301 Arctic, a former auto-service and barbershop building, sold for $300,000 and is now available for rent, owned by Joseph Rodriguez. The Department of Community Affairs is accepting grant applications for school district regionalization studies, with support from the Atlantic County Commissioners for Ventnor's application. Atlantic City's middle schools are introducing soccer and basketball programs for grades five to eight. The city has published new contracts for upcoming projects, including repaving and bikeway engineering work.

Cannabis Dispensary To Replace Long Vacant Pizza And Pawn Shop?

08 Apr 2022  |  rtforty.com
The Healing Side, a woman-owned and pharmacist-operated cannabis dispensary, has applied to open in Atlantic City in a building formerly housing a Papa John's and a cash-for-gold shop. The Casino Reinvestment Development Authority conducted a hearing on March 3 and will vote on the application on April 19. Atlantic City currently has one dispensary, The Botanist, for medical marijuana cardholders, and is awaiting state approval for recreational sales. The Healing Side's team includes pharmacists like Chintan Shah and a former manager from The Botanist.

What We Are Watching

31 Mar 2022  |  rtforty.com
Atlantic City's newest redevelopment area is a small rectangle of land on Atlantic Avenue, currently vacant and used as parking space. A conditional redeveloper has been appointed, though details are not disclosed. Additionally, the city's Planning Board will discuss a redevelopment plan at the Orange Loop for certain cannabis operations next week.

Cryptocurrency And People Without Bank Accounts

31 Mar 2022  |  rtforty.com
In Atlantic City, despite the proximity of a cryptocurrency ATM, many residents still rely on cash and lack traditional bank accounts. The FDIC reported that 4% of New Jersey residents were unbanked in 2019, likely higher in Atlantic City. The local cryptocurrency ATM allows transactions in Bitcoin, Ether, and Litecoin, though its usage appears limited. The article highlights the growing use of cryptocurrencies for remittances and the prevalence of alternative financial services in areas underserved by traditional banks.

Aquarium Gets $1.3 Million Renovation, To Reopen In Fall

31 Mar 2022  |  rtforty.com
The Atlantic City Aquarium, closed since before the pandemic, is undergoing a $1.3 million renovation awarded to Weatherby Construction by the City of Atlantic City. The renovations include a new roof, electrical and HVAC system replacements, new windows and floors, exhibit upgrades, and a gift-shop revamp. The reopening date has been moved to November 1st.

Atlantic City: Almost a Month More of High Temperatures Compared to 1970s

22 Jul 2020  |  rtforty.com
Atlantic City has experienced an increase of approximately 24 more days per year with temperatures reaching 85 degrees or higher compared to the 1970s. This rise in summer temperatures, along with warmer nights, is attributed to the urban landscape and is putting additional strain on public health systems, especially during the COVID-19 pandemic. Climate Central's report highlights the potential for heat-related health issues and worsening air quality due to stagnant air. The global temperature rise is also noted, with NOAA predicting 2020 to be among the top 10 warmest years.

We’re In This Together – How One Screenprinter Is Helping Other South Jersey Businesses

30 Apr 2020  |  rtforty.com
Lucky Dog Custom Apparel, a screenprinting business in Pleasantville, NJ, adapted to the coronavirus pandemic by launching the 'Local Tees' program, selling T-shirts on behalf of other local businesses and sharing profits. Owner Cindy Pitts and her team aimed to support the community and maintain staff employment. The initiative, inspired by a similar campaign in St Louis, involved creative designs and fundraising efforts, including contributions to food banks and schools. Despite operational challenges, the team remained positive and committed to community support.

Care Homes Report 10 Atlantic County Coronavirus Deaths

15 Apr 2020  |  rtforty.com
Atlantic County has reported 23 confirmed COVID-19 fatalities, with 10 occurring in long-term care facilities. Egg Harbor Care Center, a for-profit rehab center, reported five deaths and 12 positive cases. Other facilities, including Complete Care At Linwood, Heritage Assisted Living, and Somers Place Assisted Living, also reported fatalities and positive cases. New Jersey has begun publishing fatality data for long-term care facilities, despite pushback from some providers, raising questions about data accuracy.

Factbox: Tax Credit Awards in Atlantic City

11 Feb 2020  |  rtforty.com
The New Jersey Economic Development Authority distributed over $200 million in tax credits to Atlantic City developers and businesses over three years, with significant funds allocated to Stockton University and South Jersey Industries. A state probe criticized the awarding and monitoring of these credits. Some projects, like PolerCoaster and DeWalt Brewing, were never completed. The tax-credit allowance for the Atlantic City Contact Center was revised down.

Where The American Dreamers Work

14 May 2019  |  rtforty.com
In Atlantic City's Lower Chelsea neighborhood, a diverse group of immigrant business owners operate various small businesses, contributing to the local economy despite challenges. The area, characterized by its multicultural population, sees entrepreneurs from countries like Albania, Honduras, Mexico, Pakistan, and Korea. These immigrants find motivation in the opportunities America offers, though some express dissatisfaction with local and state support. The story highlights the resilience and dreams of these business owners, emphasizing the importance of hard work and community in achieving the American Dream.

Here’s How to get Discounted Greyhound Tickets – For Now

08 Apr 2019  |  rtforty.com
Discounted tickets for Greyhound buses between Atlantic City and New York are still available if travelers select specific casinos as their destination. Greyhound ended its first-come, first-served policy for this route, requiring tickets for specific departure times and dates. Commuters are advised to use NJTransit's 319 bus for travel to New York and return with a one-way Greyhound ticket booked online to a specific casino. Greyhound will waive fees for ticket changes through June 3, aiming to ensure a confident travel experience and consistent booking process.

Free Trees!

22 Mar 2019  |  rtforty.com
The New Jersey Tree Recovery Program, in collaboration with the state's Forestry Service and the Arbor Day Foundation, will distribute free trees across the state to help communities restore urban canopies lost during Superstorm Sandy. Over 300,000 trees have already been distributed. Specific distribution events are scheduled in various townships and boroughs, including Buena Vista, Egg Harbor, Estell Manor, Folsom, Galloway, and Hammonton.

Healthcare, Back Bay Flooding, Taxes – Monday’s Roundup

04 Mar 2019  |  rtforty.com
Atlantic City faces significant healthcare cuts, leading to increased emergency-room visits. New Jersey's coastal communities risk $1.6 billion annually in back bay flooding damages without intervention, as per the Army Corps of Engineers. Governor Murphy may propose raising $447 million through higher taxes on wealthy residents. The community mourns the passing of Little Water Distillery founder Eric Ganter. Additional news includes a Code Blue alert in South Jersey, a 12-year sentence for an Atlantic City man, a prostitution sting involving a Ventnor firefighter and NFL owner Robert Kraft, a drug-production facility bust in Egg Harbor Township, and sheriff's officers honored for saving a man at the courthouse.

Building Work to Start Soon at AC Drip N’ Scoop

22 Feb 2019  |  rtforty.com
Drip N’ Scoop, an ice cream and donut store, aims to open its new locations in Atlantic City and Somers Point by summer after delays caused by weather and a government shutdown. The business, owned by HMRXGroup, faced setbacks in obtaining a Small Business Administration loan. HMRXGroup also operates Sunrise Cafe in Ocean City.

Camden and Atlantic City Ate the Cake

14 Feb 2019  |  Route 40
South Jersey received nearly $2 billion from $4.8 billion in tax incentives awarded by the New Jersey Economic Development Authority over the past five years, despite only accounting for a quarter of the state's population. Camden and Atlantic City received some of the largest incentives, with Camden businesses getting 10 of the 12 largest awards and Atlantic City developments receiving $156 million. The state comptroller found that the EDA failed to monitor the performance of these programs. Some awarded projects, such as the Atlantic City Polercoaster and DeWalt Brewing Company, have not shown progress. The incentives were initially intended to address economic issues in the region, but have not significantly impacted poverty rates.

Alliance Seeks Support for Hispanic ACPD Officer Promotions

13 Feb 2019  |  rtforty.com
The Hispanic Alliance of Atlantic County is urging residents to support Latino officers at an upcoming Atlantic City council meeting, as the police department prepares for promotions. The Alliance claims no Latino officers are set to be promoted to lieutenant, despite Latinos comprising a significant portion of the city's population. The ACPD disputes the finalization of these promotions. Lawyer Jonathan Diego has raised the issue with various officials but reports no progress. The Alliance emphasizes the lack of Latino representation in command ranks within the ACPD.

TJM Agrees To Sell Atlantic Club

02 Feb 2019  |  rtforty.com
TJM, the Florida-based owner of the Atlantic Club, a closed casino in Atlantic City, has agreed to sell the property to Jeffrey Smolinsky and his company, North American Acquisitions. The Atlantic Club has been a subject of speculation since TJM acquired it in 2014 for $13.5 million. Various parties, including Stockton University, have shown interest in the property, but no deals were finalized until now. Smolinsky, who has a background in private investment and a connection to Atlantic City investors, is based in Malibu with a business address in Philadelphia.

Helping Federal Workers Affected By The Shutdown

23 Jan 2019  |  rtforty.com
Businesses and organizations in Atlantic County are offering various forms of assistance to federal workers affected by the government shutdown. Offers include free coffee, meals, tours, classes, haircuts, and event tickets. Food donation points and fundraising efforts are also in place to support these workers and their families. Key organizations involved include Jewish Family Services, Seaville Fire Company, American Legion Post 184, AFL-CIO, and the Community FoodBank of New Jersey.

Ben Franklin, Short-Term Rentals and Why are we so Dumb? – Monday’s Roundup

14 Jan 2019  |  rtforty.com
Representative Bill Pascrell questions the intelligence of Congress, suggesting that a lack of independent information and investigatory capabilities has weakened policy development. Longport officials are considering regulations for short-term rentals due to concerns about parties thrown by young renters. A 1774 Philadelphia newspaper featuring Ben Franklin's 'Unite or Die' cartoon was purchased by the American Philosophical Society after being found at a South Jersey Goodwill. Additionally, Cooper University Health Care's CEO Adrienne Kirby is set to retire, with successors announced.

New Stretch of Boardwalk to get Lights, Ramps

04 Jan 2019  |  rtforty.com
A new stretch of the Atlantic City Boardwalk, which opened in the summer, will soon be equipped with lights and ramps. The project, initially completed without these features, was part of a sea wall construction by the Army Corps of Engineers, funded by federal, state, and local governments. Walters Marine Construction is now seeking suppliers and subcontractors to install the lights and ramps between Melrose Avenue and Oriental Avenue in the Inlet.

Is Icahn Getting Ready to Sell the Trump Plaza?

01 Jan 2019  |  rtforty.com
Billionaire investor Carl Icahn is preparing to sell his remaining Atlantic City property, the Trump Plaza. An Icahn-backed company, IEP AC Plaza, recently acquired the deed for $3 million. Icahn's previous attempts to sell the property were hindered by a ground lease, which has now been terminated. The property is being prepped for demolition, although no permit has been filed yet. This move follows a pattern seen in Icahn's previous real estate transactions. The property was previously owned by Trump Entertainment Resorts, which went bankrupt in 2014.

Debt Costs Make Aviation Park Bet a Long-Term Play

06 Dec 2018  |  rtforty.com
Atlantic County is investing $26 million in the National Aviation Research & Technology Park, with funding through $7.5 million in county debt, a $2.7 million loan from the Casino Reinvestment Development Authority, and $15.5 million in project notes by the Atlantic County Improvement Authority. The project, which aims to revitalize the local economy, has faced challenges such as high design costs and management changes. The county is liable for any shortfall in lease income to cover debt service. No tenants have been confirmed except for the FAA, which is leasing the land. The project's recent designation as a Growth Zone and management by the New Jersey Innovation Institute are seen as positive developments.

Atlantic County Receives Record Mail-In Ballot Requests

30 Oct 2018  |  rtforty.com
The Atlantic County Clerk’s Office has received over 15,000 mail-in ballot requests for the 2018 General Election, setting a record and creating pressure on the office to confirm signatures. Deputy County Clerk Mike Sommers noted an increase in rejections due to the high volume and outdated signatures. Voters with rejected signatures must address the issue before the absentee voting deadline on Tuesday or update their signature in person by Nov. 5.

The Atlantic City To New York Bus Hack

26 Oct 2018  |  rtforty.com
The article offers a guide for Atlantic City residents on how to find the cheapest bus tickets to New York City. It highlights the price differences between Greyhound and NJ Transit, suggesting strategies like buying separate one-way tickets to save money. The piece also discusses the amenities and drawbacks of each service, such as WiFi availability and schedule reliability, providing practical tips for frequent and last-minute travelers.

How Did Atlantic City’s Needle Exchange Open In A Business District?

24 Oct 2018  |  rtforty.com
Atlantic City's syringe exchange program, operated by the South Jersey Aids Alliance, has been located in a downtown office building within the Central Business District for over a decade. Despite its long-standing presence, there is no certificate of land use compliance on file for the property at 32 S Tennessee Ave, according to the Casino Reinvestment Development Authority and city records. The absence of this documentation raises questions about the property's compliance status, with CRDA's Director of Planning and Development, Lance Landgraf, confirming the lack of records.

Atlantic City’s Mailboxes Have Shrunk

22 Oct 2018  |  rtforty.com
The USPS has added screws to Atlantic City’s mailboxes to limit the drop-down opening, allowing only letters or thin packages to pass through. This measure, described as a permanent security feature, is part of a nationwide effort to ensure the safety and security of the US Mail. Some residents may need to use mailboxes in nearby towns like Pleasantville and Ventnor, which have also been altered for the same reason.

Mapping New Jersey’s Pending Deportations

18 Oct 2018  |  rtforty.com
New Jersey has over 40,000 immigrants facing deportation, with only a small fraction facing criminal or national security charges. Immigrants with legal representation are significantly less likely to be deported. The state has allocated $2.1 million for legal aid to immigrants, though its utilization remains unclear. Most deportation cases involve immigrants from Guatemala or Mexico, and the average case processing time exceeds 800 days.

Talking To Trees

16 Oct 2018  |  rtforty.com
Atlantic City is undertaking a project to plant 45 young trees in Uptown Park, funded by a grant from TD Bank and the Arbor Day Foundation to the New Jersey Tree Foundation. The project, led by interim planning director Robert Preston, aims to ensure the trees' survival in the city's challenging environment. The initiative involves various stakeholders, including the Atlantic City Shade Tree Committee, local councilmen, and community members. The project emphasizes species diversity and proper irrigation to adapt to the city's conditions.

What Is The Atlantic Club’s Owner Up To?

11 Oct 2018  |  rtforty.com
The Atlantic Club in Atlantic City remains up for sale, with its owners, TJM, actively marketing the property. Despite multiple offers, the property has not yet been sold due to its size and expense. The Claridge, another property owned by TJM, is not for sale. There have been reports of demolition estimates for the Atlantic Club, but no confirmation from TJM. Stockton University had previously shown interest in purchasing the property, but the deal did not materialize. There is no connection between TJM and Seaview Resort's new owner, KDG Capital.

The Students Are Coming

29 Aug 2018  |  rtforty.com
In Atlantic City's Lower Chelsea neighborhood, changes are underway around the new Stockton University campus. New businesses like Drip n’ Scoop and Atlantic Smiles are moving in, and renovations are being completed on several properties, including a century-old house now called 'The Osprey Nest.' These developments signal a transformation in the area, although some properties like the burnt-out A&B Market remain in flux.

Trains, Fish, Boards – Tuesday’s Roundup

21 Aug 2018  |  rtforty.com
The article covers various local news topics including NJ Transit's delays in reopening the Atlantic City to Philadelphia rail line, a feature on Mainland High School's fishing club, and Margate's new boardwalk committee planning a rally. It also touches on a letter from Bishop Dennis J. Sullivan condemning church leadership, Egg Harbor Township's struggle to hire Class III officers for schools, a sentencing in a manslaughter case, and controversy surrounding Miss America Organization's leadership.

Interested Tenants Circle Aviation Tech Park

20 Aug 2018  |  rtforty.com
Atlantic County officials are close to signing a lease for the National Aviation Research & Technology Park in Egg Harbor Township, aiming to diversify the regional economy post-Atlantic City's casino industry collapse. The park, set to open its first building in October, has attracted interest from major companies like Boeing and Lockheed Martin, and is in talks with a research university. The FAA is a confirmed tenant, collaborating with the National Institute of Aerospace. The project, supported by various local agencies and facing rising costs, aims to create over 2,000 jobs. Economic incentives and federal Opportunity Zone funding are being pursued to attract businesses.

Comeback Story For Atlantic City Wrestler

13 Aug 2018  |  rtforty.com
Phillip Eisenstein, under the stage name Ike Phillips, is set to make his wrestling debut at the Boardwalk Beatdown in Atlantic City. A former football coach at the University of Miami, Eisenstein rekindled his childhood love for wrestling and aims to be a positive role model in his hometown. The event, organized by Chad Minnes of Standalone Wrestling, promises family-friendly entertainment and features big-name wrestlers like Goldberg and Sting. Eisenstein's story is one of resilience and a desire to offer unique entertainment to Atlantic City, a city he believes is on the rise.

Atlantic City Business Applies For Medical Marijuana Permit

10 Aug 2018  |  rtforty.com
A Calvi Electric executive has applied for a use-variance to open a medical marijuana dispensary and indoor marijuana farm at their site in Atlantic City, pending state approval. The application, filed with the Casino Reinvestment Development Authority by Calvi Electric President Mike Brestle and Longview Strategic CEO Ellie Siegel, aims to establish the dispensary on Iowa Ave. The proposal is part of New Jersey's plan to double its medical marijuana dispensaries, with six new permits available. The applicants have partnered with Cresco Labs, an existing medical cannabis company, and plan to hire local residents and provide training and internships. The application argues that the site is well-suited for the proposed use despite it not being initially permitted in the master plan.

Brigantine Drafts Plastic Bag Ban

08 Aug 2018  |  rtforty.com
Brigantine’s city council has drafted an ordinance to ban single-use carryout bags, extending beyond the 5-cent fee implemented by neighboring towns Ventnor and Longport. The proposed ban aims to improve public health and safety by reducing litter on streets, beaches, wetlands, parks, and in the ocean. The ordinance, which allows plastic bags only in limited circumstances, is currently open for public comment via email, with enforcement expected to begin next June.

Protecting The Many Or The Few

02 Aug 2018  |  rtforty.com
Atlantic City's new $38-million storm-protection structure in the South Inlet neighborhood was justified by the U.S. Army Corps of Engineers due to a cost-benefit study and the presence of the valuable Boardwalk property. The project, influenced by Superstorm Sandy, included a redesigned Boardwalk atop the sea wall, adhering to the Buy American Act. The construction involved significant logistical challenges, including sourcing materials and obtaining easements. The sea wall, designed to handle significant storm surges, also addresses back-bay flooding, though future solutions for broader coastal resiliency remain complex and economically challenging.

Stockton Lawsuits, NJ High Schooler Exodus, Public-Sector Perks – Monday’s Roundup

30 Jul 2018  |  rtforty.com
Four civil lawsuits alleging sexual assault have been filed against Stockton University and an unauthorized fraternity, raising concerns about the institution's transparency. New Jersey faces a significant issue with high school students opting for out-of-state colleges, impacting local education investments. A new law will allow state workers to donate unused leave to co-workers, highlighting the divide between public and private sector benefits. Other notable developments include administrative changes in Atlantic City, budget analysis on education spending, and the expansion of sports betting and discount grocery stores in the state.

Brown Backs Grossman, AC Start-Ups, Immigration Is Complicated – Friday’s Roundup

27 Jul 2018  |  rtforty.com
Republican state senator Chris Brown supports GOP Congressional candidate Seth Grossman despite the national Republican party withdrawing support. Atlantic City's Planning Board, including member Ronald Jordan, is optimistic about new start-ups, including an axe-throwing company and a small brewery. ICE has notified 75 New Jersey businesses of audits for unauthorized immigrant employment, highlighting the complexity of immigration issues and the backlog in immigration courts. Other news includes challenges facing the Miss America Organization, a Ventnor woman charged with murder, and various criminal activities in the region.

A Weekday Night At Mr Steak

25 Jul 2018  |  rtforty.com
Mardiha, an 11-year-old student from Richmond Avenue School, aspires to be a software engineer and is inspired by female role models. At Mr Steak, a local restaurant and community hub, she and other Bangladeshi students participate in a public speaking event organized by Saeed Duha, editor of The Kak Atlantic. The event aims to select students to attend a United Nations conference in New York. The gathering highlights the diverse and supportive nature of the Atlantic City community, with involvement from local schools and universities.

UPDATE: Atlantic Club Pays Tax Lien, Avoids Foreclosure

23 Jul 2018  |  rtforty.com
The Atlantic Club, a former casino in Atlantic City, avoided foreclosure by paying off tax liens from 2017 worth nearly $1 million. The property has been vacant since 2014, and its future remains uncertain as attempts to sell have failed and it has deteriorated. TJM Properties, the owner, also sold nearby lots and owns The Claridge hotel in Atlantic City.

UPDATE: Atlantic Club Pays Tax Lien, Avoids Foreclosure

23 Jul 2018  |  rtforty.com
The Atlantic Club, a former casino in Atlantic City, avoided foreclosure by paying off tax liens from 2017 worth almost $1 million. The property has been vacant since 2014, and its future remains uncertain as attempts to sell have failed and it has deteriorated. TJM Properties, the owner based in Clearwater, FL, also sold nearby lots and owns The Claridge hotel in Atlantic City.

#Winning At Something – Friday’s Roundup

20 Jul 2018  |  rtforty.com
A brewing battle in New Jersey's offshore wind industry involves companies wanting to build wind farms and those aiming to construct transmission lines. Atlantic County has significantly reduced its jail population due to long-term efforts to lower recidivism and financial pressures. Stockton University approved a tuition hike and extended its president's contract. The Townsend Inlet Bridge will close for eight months for repairs. The NJ Supreme Court is considering dismissing old minor municipal court cases. A Gloucester County woman was fatally beaten, and a registered sex offender pleaded guilty to child pornography charges. Atlantic City's Fox Manor Hotel may see improvements under new ownership.

Small Businesses Collaborating, Innovating In County Still Mesmerized By Gaming

18 Jul 2018  |  rtforty.com
In Atlantic County, small business owners are collaborating and innovating to create new services and products amidst a region still heavily focused on the gaming economy. Photographer Kelly Lentz's 'Spotlight on Local' project has fostered new business relationships, while other entrepreneurs are developing co-working spaces and maker spaces independently. Despite a lack of county support for small business development, local businesses are leveraging unique economic conditions and networking with transplants to drive growth. Notable collaborations include Little Water Distillery's partnerships with local businesses to create unique products and cross-promotions.

Developer Behind Atlantic City ‘Orange Loop’ Buys Land Package From Schultz, Hill

12 Jul 2018  |  rtforty.com
The developer behind the 'Orange Loop' project in Atlantic City, Patrick Fasano, has acquired 11 vacant properties for just under $1 million from local businessmen Gary Hill and John Schultz. Fasano's company, NYOrangeDeeds, purchased the properties located on St James Place and New York Avenue. Additionally, Fasano bought another property on South New York Avenue for $80,000, which houses the restaurant and concert venue Bourré. Fasano plans to develop residential properties, a shipping-container-style hotel, and a food court on the block.

Covering Controversy, Dying Malls – Wednesday’s Roundup

11 Jul 2018  |  rtforty.com
Bill Sprouse interviewed Seth Grossman about his controversial comments on diversity, aiming to understand the Republican candidate's stance for New Jersey’s Second Congressional District. Kevin Riordan of The Inquirer describes the decline of the Burlington Center mall, reflecting on the broader issue of dying suburban malls in the US. The article also touches on various local news, including New Jersey's efforts to phase out PARCC testing, improved access to Hepatitis C treatments for Medicaid patients, and the expansion of a jellyfish advisory in Barnegat Bay. Additionally, it covers the appointment of Michael Fedorko as Atlantic County's new head of public safety, a sheriff's officer's rescue of a man from the ocean, and a lawsuit involving a Stockton University student's assault. The piece concludes with updates on a house explosion in Gloucester County caused by natural gas.

Seth Grossman, Fisherman’s Energy, Storm – Tuesday’s Roundup

10 Jul 2018  |  rtforty.com
The Republican Party has withdrawn support for Seth Grossman, the candidate for New Jersey's second congressional district, who refuses to drop out of the race. Fisherman’s Energy is filing a new plan for an offshore wind farm near Atlantic City, hopeful due to a new law signed by Gov. Murphy. Tropical Storm Chris is expected to become a hurricane but will likely stay away from the coast, minimizing damage. Other news includes a police officer reviving a newborn, a rare flesh-eating bacteria case, South Jersey Industries' acquisitions, and a court ruling favoring New Jersey's bail reform. Additionally, various local incidents and legal cases are reported, including a lawsuit against Stockton University over an alleged rape, and the blunt-force trauma deaths of a mother and daughter in Ventnor.

We’re Back – Monday’s Roundup

09 Jul 2018  |  rtforty.com
The article provides a roundup of recent events and issues in Atlantic City and New Jersey, including casino openings, suspicious deaths in Ventnor, theft in youth sports leagues, a protest over a police shooting, water infrastructure funding, government reforms, and a proposed $1 billion bond for education facility upgrades. Key stakeholders include local government offices, the Senate, and Gov. Phil Murphy, with discussions on public safety, political reforms, and community concerns.

Another Development In Wings For Atlantic City’s Tennessee Ave Beach Block

11 Jun 2018  |  rtforty.com
Long-time Atlantic City businessmen Abraham and Robert Schiff plan to develop a new restaurant and bar area on a Boardwalk-fronting site, inspired by the successful Boardwalk Biergarten. The project aims to revitalize a previously underdeveloped area between St James Place and Tennessee Avenue. The development is part of a broader trend of revitalization in the area, with new businesses and entertainment venues opening nearby. The Schiffs hope to attract more visitors by offering easy parking and a vibrant pedestrian area, leveraging the reopening of nearby casinos.

Hispanic Association Questions Transfer Of AC High School Principal

16 May 2018  |  rtforty.com
The Hispanic Association of Atlantic County is questioning the Atlantic City Board of Education's decision to transfer Lina Gil, the city's first Latina high school principal, to an elementary school. The Association suspects political motivations behind the move, as the new principal's husband is the Atlantic City Council president. The Board of Education's meeting to approve the transfer is scheduled for May 21. The Association has requested a larger venue for the meeting to accommodate public interest. Gil has been credited with improving the high school's enrollment and graduation rates.

New Jersey Bond Businesses Eye New Growth, From Immigrants

11 Jul 2017  |  www.nytimes.com
New Jersey bail bond businesses are shifting focus to writing bonds for detained immigrants due to a change in state law that largely eliminated financial bail. This new niche is seen as a growth area, despite the higher risks and longer durations associated with immigration bonds. Companies like Libre by Nexus and Action Immigration Bonds are key players in this market, though Libre by Nexus faces legal challenges over alleged deceptive practices. Bail agents are adapting by being selective and leveraging legal representation to mitigate risks.

Meet Omar

12 May 2017  |  rtforty.com
Omar, a driver for the Fantasea Flagship resort in Atlantic City, is known for his engaging personality and comedic flair. He offers rides around the city and entertains passengers with his humor, making their stay more enjoyable.

Mapping Atlantic County’s Abandoned Homes

13 Mar 2017  |  rtforty.com
Atlantic County has over 4,600 abandoned homes, primarily in Egg Harbor Township, Galloway Township, and Atlantic City. Municipalities are collecting data on these properties to hold banks and mortgagees accountable for maintenance, aiming to prevent neighborhood blight. An interactive map was created using data from the Atlantic County Improvement Authority. Most municipalities charge a registration fee for empty properties, with fees split between a contracted company, the county, and the municipality. Foreclosure rates have slowed but remain high in certain areas. The article includes details on individual towns' ordinances regarding unoccupied properties.

Stockton In Talks For Atlantic City’s Bader Field

06 Mar 2017  |  rtforty.com
Stockton University is in preliminary discussions to develop Atlantic City's Bader Field, potentially extending its reach in the city. The university is considering the site for a marine sciences and resiliency center, with President Harvey Kesselman having discussed the idea with Atlantic City Mayor Don Guardian. The university is also interested in the site's ice skating rink and minor league stadium. Bader Field, a designated Redevelopment Zone, has been on developers' radar for years but has faced challenges in securing a buyer. Stockton's financial position, already weakened by significant borrowing, raises questions about how it would fund further acquisitions.

Atlantic City Approves New 26-Bed Drug Detox Clinic

26 Jan 2017  |  rtforty.com
Atlantic City has approved a new 26-bed drug detox clinic by Ole Hansen & Sons Inc, located near the Atlantic City Boatyard. The clinic aims to address the opioid epidemic by providing inpatient services for the first phase of recovery. Despite potential public concerns, the zoning board approved the plan without opposition. The Hansen Foundation, associated with the company, will offer scholarships to ensure access for those unable to afford treatment. The clinic is part of a broader expansion of Ole Hansen's services, including a new outpatient facility in Ventnor.

Trampoline Park To Open In Mays Landing This Fall

24 Jan 2017  |  rtforty.com
Get Air Management intends to open a trampoline park at the Hamilton Convenience Center in Mays Landing in the fall of 2017. The park will feature a ninja obstacle course, dodgeball, a foam pit, and wall-to-wall trampolines, and will employ 20-40 people trained in first aid and CPR. The location was chosen due to high demand for family-friendly entertainment in the area, and the company has conducted market research to confirm the suitability of the site. The park will cater to kids ages five to 15, with separate areas for toddlers and 'little jumpers' under 46 inches. It will also offer birthday party services and will not require membership, only payment for jumping time.

Why Did The Casino Association Ask A Norcross To Lobby CRDA?

23 Jan 2017  |  rtforty.com
The Casino Association of New Jersey hired Philip Norcross to lobby the Casino Reinvestment Development Authority (CRDA) on economic development. Atlantic City casinos have previously received significant funds from CRDA, but recent legislation redirected some of this budget to city debt repayment. The association's lobbying activities and expenditures are detailed, with Optimus Partners representing them. Other clients of Optimus Partners include New Jersey American Water, Comcast, Atlantic City Electric, and Pier Renaissance.

Tax Filing Shows ACDevCo Had No Staff, Little Income In 2015

20 Dec 2016  |  rtforty.com
The Atlantic City Development Corp (ACDevCo), a non-profit development company, had no staff and minimal income in 2015, primarily earning revenue from parking fees. Founded by Chris Paladino and colleagues from the Governor’s Commission on New Jersey Gaming, Sports and Entertainment, ACDevCo held land valued at $11.7 million and incurred significant legal and operational costs. The company aims to become self-sustaining through development fees and future projects. A $10 million loan from South Jersey Gas was repaid in 2016. The construction company Jingoli & Son, which employs Paladino's son, was awarded a no-bid contract for a major project.

Downbeach Construction Boom Slows, Shifts Uptown

15 Dec 2016  |  rtforty.com
The construction boom initiated by Hurricane Sandy is slowing in the wealthier southern towns of Absecon Island, with a shift in activity to the northern end due to incoming FEMA funds. Ventnor has seen a significant increase in new construction, while Margate and Longport experience a surplus of new homes and a slowdown in demolition. The second-home market remains steady, particularly in Margate, which is becoming more of a second-home community. Builders remain optimistic about new homes near the beach, despite a flat market and high prices.

Declining Atlantic City Train Draws Loyal Commuter Crowd

15 Nov 2016  |  rtforty.com
The Atlantic City-Philadelphia train line, one of the nation's oldest, faces declining ridership in line with casino closures in Atlantic City. Despite this, a loyal commuter crowd continues to use the service, citing benefits like low cost and reduced stress. The main issue for commuters is the infrequent train schedule, particularly in the mornings. Proposals to add more trains to boost passenger numbers have been made, but NJ Transit argues that expanding the heavily-subsidized line is difficult to justify. The line also serves commuters traveling to other destinations like Trenton, though delays and scheduling issues remain a concern.

Mexican Peso Sinks as Donald Trump Secures Victory

10 Nov 2016  |  www.nytimes.com
Following Donald Trump's presidential election victory, the Mexican peso experienced a significant decline, dropping over 12 percent against the dollar before stabilizing at less than an 8 percent loss. The peso's volatility reflects its role as a proxy for Latin American and emerging-market investments. Market participants were not fully prepared for Trump's win, despite the high cost of options signaling uncertainty. Mexico's economy, heavily reliant on exports to the U.S., faces uncertainty due to Trump's campaign rhetoric on immigration and trade barriers. The peso's performance has also been influenced by the declining oil prices since 2014.

Scrutiny of Commercial Real Estate Loans Chills Small Lenders

04 Oct 2016  |  www.nytimes.com
Local banks, traditionally reliant on commercial real estate loans, are retreating from the market due to regulatory scrutiny and warnings about lax lending standards. This has led to a shakeout, with some banks selling off loans and becoming more cautious in new lending. Brokers report fewer lenders for certain commercial property deals, and institutional investors and foreign banks are stepping in. Regulatory agencies have set limits on commercial real estate loans, pushing banks to focus on smaller deals or acquisitions. The trend is causing a squeeze on growth and profitability for community banks, leading to further consolidation in the banking sector.

Tighter Rules on Money Transfers Put Squeeze on Businesses

10 Jun 2016  |  www.nytimes.com
Fernando Lopez's money-transfer business in Atlantic City is struggling due to stricter banking regulations aimed at preventing money laundering. Despite compliance efforts, banks have closed his accounts, forcing him to operate through MoneyGram International and Ria Money Transfer. Lopez is considering converting his business to a parcel shipping center. The World Bank reports that Mexico is the largest recipient of remittances from the U.S., but American banks now view this business as a liability.

Special Report: Mexico looks the other way as contractors fleece oil giant Pemex

10 May 2016  |  Reuters
The article investigates the fraudulent activities and lack of oversight within Pemex, Mexico's state-owned petroleum company. Auditors discovered numerous contracts with serious issues, including overcharging and fraud, totaling $11.7 billion. Despite recommendations for action, Pemex rarely took any, leading to continued corruption and loss of funds. The article highlights specific cases, such as the unnecessary towing of an oil rig and the dealings with Francisco 'Pancho' Colorado, an alleged associate of the Zetas cartel. It also discusses the broader implications for the Mexican economy and the government's stalled anti-corruption efforts. The article suggests that Pemex's internal problems are becoming increasingly significant as Mexico opens its oil reserves to foreign drillers.

Merrill merger becomes a necessity

03 Dec 2008  |  www.nytimes.com
Bank of America and Merrill Lynch shareholders are expected to approve a merger valued at about $19 billion, significantly reduced from the original $50 billion, due to concerns of a deep economic recession and potential credit losses. The merger is seen as crucial for Merrill Lynch's survival, especially after the collapse of Lehman Brothers and Bear Stearns. Cassandra Toroian, a chief investment officer who owns Bank of America shares, views the merger as a long-term opportunity despite the reduced valuation.

Tough sell for banks seeking to ward off tougher regulation

05 Nov 2008  |  www.nytimes.com
Wall Street banks are pledging not to use U.S. government rescue funds to pay bonuses, hoping to avoid stricter regulations on excessive pay. The nine largest banks, including Bank of America, JPMorgan Chase, and Citigroup, have set aside $80 billion for compensation. Senior officials like Nancy Pelosi, Barney Frank, and Harry Reid are advocating for tighter pay limits for banks receiving federal funds.

For banks, breaking up is hard to do

13 Aug 2008  |  www.nytimes.com
UBS is considering separating its wealth management arm from its investment bank, reflecting a broader trend among banks like Citigroup and Merrill Lynch to evaluate splitting their businesses. Analysts highlight the challenges of such breakups, including the need for more capital and the difficulty of selling units at depressed prices. Citigroup's CEO, Vikram Pandit, has opted to keep the company's businesses together, while Merrill Lynch's CEO, John Thain, has sold some assets but retained key stakes. The consideration of breakups underscores the financial sector's desperation amid challenging times.

JPMorgan chief falling out of favor on Wall St.

16 Jun 2008  |  www.nytimes.com
James Dimon, CEO of JPMorgan Chase, is facing growing skepticism from investors due to concerns about a potential U.S. recession and the bank's consumer credit exposure. Despite previously being praised for avoiding the subprime crisis, doubts are emerging about the Bear Stearns acquisition and potential future purchases. Portfolio managers like James Ellman and Michael Nix express concerns, with some reducing their JPMorgan holdings.

Some derivatives traders taking a closer look at Lehman Brothers

11 Jun 2008  |  www.nytimes.com
Lehman Brothers continues usual business with most derivatives trading clients despite preparing to post its first loss in 14 years. While most clients have not changed their dealings, a few have scaled back or ceased trading with Lehman. The CFO reported no material loss of clients, but concerns remain due to the recent run on Bear Stearns, although Lehman is not expected to face a similar situation imminently.
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