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Lame Duck NJ Redistricting Scheme Raises More Questions than It Answers

Assemblywoman Holly Schepisi

In the days prior to Christmas, two hastily called Judiciary committee hearings were called in an effort to change the NJ State Constitution, ensuring one party control of the State in perpetuity. Practically no notice was provided, no information was shared, no questions were answered and no experts testified. Regardless of your political leanings, anyone who favors open, transparent, good government should reject what transpired. So far the Star Ledger and the Daily Record editorial boards have denounced this political gamesmanship. Below please find an Op Ed piece regarding this issue.

Lame Duck Redistricting Scheme Raises More Questions than It Answers

By Assemblyman Michael Patrick Carroll and Assemblywoman Holly Schepisi

Schemes hatched in lame duck sessions of the Legislature should always give reason for pause, but changing voting rights without considerable public discussion is reckless. A proposed constitutional amendment with a significant but unknown impact on the voting rights of New Jersey’s citizens deserves more than the hasty, slapdash, non-transparent treatment the Democrats are giving this measure.

Ignoring the Legislature’s responsibility to hold fact-finding hearings, Chairman John McKeon dismissed concerns about fast-tracking the proposal changing the way the state redraws its legislative districts. “The people of New Jersey will have the opportunity to vote on whatever is on the ballot,” he said at last week’s Assembly Judiciary Committee hearing.

We did not support this plan in part because the sponsors couldn’t answer basic questions. How can voters make an informed decision about a constitutional amendment when the Legislature itself does not fully understand it?

What’s the rush? Legislative districts won’t be reconfigured again until 2021. When the 1966 Constitutional Convention considered the standards used today, it met for three months and had 14 meetings full of expert testimony. Additionally, there were six meetings specifically on apportionment. In this process, the Democrats are advancing a plan after only two brief committee meetings with no expert testimony and only one member of the public commenting.

Their amendment relies on a decades-old report by Dr. Donald Stokes, who served on the Apportionment Commission in 1981 and 1991. Many of his assumptions are based on demographics from almost a generation ago. No one can deny that New Jersey has changed significantly in a quarter century. Does Stokes’ modeling still hold true? Were the demographics he used in 1993 accurate on what we know today?

The amendment deviates from the report on even more critical aspects. Stokes used legislative elections to create his models and proposal, but this amendment ignores them. Instead, it relies on federal and gubernatorial elections that have little to do with drawing up legislative districts. Why exclude legislative races to determine how those districts should be drawn? That’s like using baseball statistics to figure out how football should be played.

Their plan requires only a quarter of districts to be competitive, but allows the remaining 75 percent to have no contest at all. Why not maximize the number of competitive districts? The Stokes test for determining whether a map is fair requires the popular vote across the state to be represented among the districts as a whole and be responsive to the shifts of public opinion. When electoral tides move strongly toward one party, that party should fairly quickly win an effective majority of seats. Using the 2011 legislative election returns, a fair map should have resulted with 21 Democrat and 19 Republican Senators, rather than the 24-16 split that has remained since that election.

Further, the amendment intentionally excludes the equal representation requirement in the state Constitution. Every state respects equal population requirements, the bedrock of American democracy since “no taxation without representation.” Yet, the Democrats intentionally left it out in favor of gerrymandering districts, which almost always shift groups of voters to limit the voting rights of others. They may point to the compactness requirement in the constitution, but this amendment makes federal law pre-eminent.

Why do the sponsors want to make this change? Democrats have held a legislative majority since 2001 and hold their largest majority in 40 years.

The plan was conceived behind closed-doors by Democratic political operatives with essentially a super PAC in East Brunswick. They introduced it to the Assembly Judiciary Committee on November 17, even though it was not mentioned during a previous meeting just three days earlier. With little more information than a Politico article, it passed on a party-line vote the week before Christmas.

By the end of the next day, the Democrats wanted to limit the number of members on the redistricting commission in their plan without explanation. They called the committee back the following Monday, but that meeting started four hours late after most of the media and public left. This contempt for transparency and lack of serious inquiry into this proposal’s ramifications is striking and should be a matter of serious concern to anyone who values New Jersey’s voting rights.

While parties may disagree on the result of the map every ten years, New Jersey’s electoral process has been routinely praised by academics when compared to other states. Why weren’t those experts invited to the committee hearing? Shouldn’t we know what other states do before moving forward with a constitutional amendment? Surely if this plan were all the Democrats say, there would have been a line of academics ready to back them up.

In no other profession would you first enact a policy to know what is in it. The lack of information, transparency and candor is reason enough to be concerned with where the state is headed under a Democratic majority. This constitutional amendment blindly leads the public into forever changing the way New Jersey votes.

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globalised anxiety

parismarch2_011215getty_0

Battered, bruised and jumpy — the whole world is on edge

Gideon Rachman

Not one global power is optimistic and even in America, which should be cheering, the mood is sour

In 2015, a sense of unease and foreboding seemed to settle on all the world’s major power centres. From Beijing to Washington, Berlin to Brasília, Moscow to Tokyo — governments, media and citizens were jumpy and embattled.

This kind of globalised anxiety is unusual. For the past 30 years and more, there has been at least one world power that was bullishly optimistic. In the late 1980s the Japanese were still enjoying a decades-long boom — and confidently buying up assets all over the world. In the 1990s America basked in victory in the cold war and a long economic expansion. In the early 2000s the EU was in a buoyant mood, launching a single currency and nearly doubling its membership. And for most of the past decade, the growing political and economic power of China has inspired respect all over the world.

Yet at the moment all the big players seem uncertain — even fearful. The only partial exception that I came across this year was India, where the business and political elite still seemed buoyed by the reformist zeal of prime minister Narendra Modi.

By contrast, in Japan, faith is fading that the radical reforms, known as Abenomics, can truly break the country’s cycle of debt and deflation. Japanese anxiety is fed by continuing tensions with China. However, my main impression from a visit to China, early in the year, is that this too is a country that feels much less stable than it did even a couple of years ago. The era when the government effortlessly delivered growth of 8 per cent or more a year is over. Concerns about domestic financial stability are mounting, as the upheavals in the Shanghai stock exchange over the summer revealed.

However, the main source of anxiety is political. President Xi Jinping’s leadership is more dynamic but also less predictable than that of his predecessors. Fear is spreading among officials and business people, who are scared of being caught up in an anti-corruption drive that has led to the arrest of more than 100,000 people.

https://www.ft.com/cms/s/0/c523a45a-a973-11e5-955c-1e1d6de94879.html#axzz3viP0CjOB

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Police investigating Oradell bank robbery

Glen Rock Hudson City

Hudson City Saving in Glen Rock file photo by Boyd Loving

DECEMBER 29, 2015, 11:24 AM    LAST UPDATED: TUESDAY, DECEMBER 29, 2015, 1:15 PM
BY STEFANIE DAZIO
STAFF WRITER |
THE RECORD

ORADELL — Police are investigating a bank robbery on Kinderkamack Road Tuesday morning where about $8,300 was stolen.

The Oradell robbery was the latest in a string of recent crimes at  locations in Bergen County.

The man walked into the bank around 10:10 a.m., placed a black bag on the counter and told a teller to fill it up with cash, Capt. William Wicker said.

The man said he had a weapon, but did not say what it was or show it, Wicker said. Surveillance footage showed that he did not appear to have a weapon, Wicker said. The suspect fled on foot.

The man is described as black, 5’8” and 175 pounds and about 30 years old. He was wearing a black knitted hat, a gray sweatshirt, a gold scarf and khaki pants, Wicker said.

Authorities are investigating if Tuesday’s crime was related to bank robberies at Hudson City branches across the county in recent months. On Dec. 3, a man walked into a Lyndhurst branch in the Lewandowski Commons shopping center and told a teller to fill up a bag he’d brought with money.

https://www.northjersey.com/news/police-investigating-oradell-bank-robbery-1.1481748

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Artist Ellsworth Kelly found his bold vision as a boy in Oradell

Artist Ellsworth Kelly

DECEMBER 28, 2015, 12:02 PM    LAST UPDATED: MONDAY, DECEMBER 28, 2015, 11:09 PM
BY JAY LEVIN
STAFF WRITER |
THE RECORD

he power of observation that informed the work of Ellsworth Kelly — whose innovative use of bold, geographic shapes and vivid colors established him as one of America’s leading abstract artists — was incubated in the rural Oradell of long ago.

Kelly, who died Sunday at 92, spent his boyhood in the Bergen County borough and enjoyed bird-watching at the Oradell Reservoir, an experience that helped him focus on nature’s shapes and kindled a passion for color and form.

Oradell, too, gave Kelly his professional moorings: His drawings — of daffodils, for instance, and George Washington and Abraham Lincoln set in profile against a Stars and Stripes backdrop — graced the covers of The Chirp, Oradell Junior High School’s quarterly literary magazine. Kelly himself credited a sixth-grade art teacher, Dorothy Opsut, with recognizing and encouraging his talent.

The artist, who counted Picasso and Matisse as influences, moved to upstate Spencertown, N.Y., after stints in lower Manhattan and Paris, but never forgot Oradell. A childhood friend, Frank Vierling, was the longtime borough historian, and when the Oradell Public Library embarked on a capital campaign to fund a renovation a decade ago, Kelly’s $50,000 was the largest gift.

When the library marked its centennial in 2013, Kelly, days shy of 90, was front and center at the celebration. Telling the crowd that “my art is simply about shapes and colors and what people make of them,” he presented the library with a signed print titled “Color Squares 2” (2011) — squares of green, blue, violet, red and orange on a horizontal white background. It hangs over the fireplace in the North Reading Room, and joins a trove of Kelly books and catalogs in the library’s collection.

 

https://www.northjersey.com/news/artist-ellsworth-kelly-found-his-bold-vision-as-a-boy-in-oradell-1.1481462

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911 recordings after bear attack reveal badly injured Scoutmaster, calm kids

Bears

file photo of a Ridgewood bear
By Ben Horowitz | NJ Advance Media for NJ.com
on December 28, 2015 at 5:52 PM, updated December 29, 2015 at 7:12 AM

ROCKAWAY TOWNSHIP — Emergency calls received by Rockaway Township police on the day a Boy Scout leader was attacked by a bear in Splitrock Reservoir in Rockaway Township reveal an anxious, injured man and a calm child reporting the incident.

Recordings of 911 calls, obtained by NJ Advance Media under an Open Public Records Act request, show that when Scout leader Christopher Petronino of Boonton Township called on Dec. 20, he was too injured to move.

Asked how injured he was, Petronino replied, “pretty bad … I can’t move at all now.”

“I’m sorry about all this,” the victim said, and the dispatcher told him not to be sorry, asking him where he was bleeding.

Petronini said the bleeding had “subsided” but he was still bleeding from the left arm, left leg, neck and head.

 

https://www.nj.com/morris/index.ssf/2015/12/911_recordings_reveal_anxious_scoutmaster_calm_kid.html?ath=9c46bfc08d76232bb5a5e00eeaf0bfa2#cmpid=nsltr_stryheadline

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How to check to see if you have unclaimed property in N.J. and reclaim it

Trenton_New_Jersey

By Samantha Marcus | NJ Advance Media for NJ.com
on December 28, 2015 at 7:08 PM, updated December 29, 2015 at 7:15 AM

TRENTON — New Jersey’s Unclaimed Property Administration connected $123 million in unclaimed assets with their rightful owners or heirs in the fiscal year that ended in June, according to an audit of the agency.

The state paid out $125 million in 2014 and $107.5 million in 2013.

But plenty remains unclaimed. Nearly $264 million was turned over to the state in the last fiscal year alone.

“It is common that in the normal course of business that individuals or businesses lose track of either checks that were issued to them or bank holdings,” according to the state website. “Once property reaches the defined abandonment period with no activity, the holder of this property will turn the property over to the state.”

The Unclaimed Property administration is merely the custodian. You never give up your right to claim these assets. “If property is not claimed it remains in the Unclaimed Property Trust Fund in perpetuity or until a valid claim is submitted and processed,” the website said

 

https://www.nj.com/politics/index.ssf/2015/12/how_to_locate_claim_your_unclaimed_property_in_nj.html?ath=9c46bfc08d76232bb5a5e00eeaf0bfa2#cmpid=nsltr_strybutton

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Retired Ridgewood Police Officer Anthony N. Cortazzo, dies at 89

Candle_Light

 

Anthony Neil Cortazzo
Born: March 04, 1926
Died: December 28, 2015

Anthony N. Cortazzo, aged 89 of Ridgewood, NJ passed away on December 28, 2015. He was a member of the Ridgewood Police Department for 38 years; retiring after 10 years as Captain. Anthony served in the US Army during WWII in France. He was an active member of the Riverside Vets in Paterson where he was born and attended Eastside High School. Tony was an avid and well known golfer in the area for many years. He is predeceased by his mother Andrianna, father Raymond, three brothers, Ralph, Frank, and Andy. He lost a son Raymond, aged 15 and daughter Susan, aged 48, his loving wife of 35 years Eileen and recently Ruth Jediny, his loving companion of the last 12 years. Anthony will be remembered as a helpful and caring person to his family, friends, and community.
He is survived by three devoted children and sons-in- law, Kathleen Martello and husband Phil, Claire Baragona and husband Peter and David Cortazzo Menegus. Anthony was blessed with six grandchildren Philip, Ariele, Michael, Benjamin, Jake and Lina; and one great grandson, Evan. He is also survived by nieces, Barbara Ann, Andrea, and nephew John.

The visitation will be at the C C Van Emburgh Funeral Home 306 E. Ridgewood Avenue, Ridgewood, NJ 07450 onWednesday, December 30th from 2 to 4 pm and 6 to 8 pm. Prayer service will be held on Thursday at 10 am at the funeral home chapel with entombment to follow at Calvary Cemetery in Paterson. www.vanemburgh.com

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Empty Kmart in Paramus to become indoor sports practice facility

indoor training facility

Empty Kmart in Paramus scores a new use

DECEMBER 28, 2015, 6:23 PM    LAST UPDATED: MONDAY, DECEMBER 28, 2015, 6:44 PM
BY JOAN VERDON
STAFF WRITER |
THE RECORD

The vacant, cavernous Kmart store in Paramus has been carpeted with artificial turf and been given a new, if temporary, lease on life as an indoor practice facility for North Jersey sports teams.

On Monday morning, the 91,000-square-foot, hangar-like building, which used to be crowded with store shelves and shoppers, rang with the shouts of two dozen youngsters kicking soccer balls and running drills.

The unusual arrangement meets two separate goals: a Bergen County entrepreneur’s need for a location with enough floor and ceiling space to accommodate several practice fields; and the landlord’s need for a short-term tenant until development plans for the shopping center are finalized.

Scott Vandersnow  of Upper Saddle River this month opened the building as The Arena, an indoor training facility, and has begun renting the space out to youth sports teams. This week, the building is being used for youth soccer and lacrosse camps that Vandersnow is offering for parents who want their kids to stay active during the winter break.

Vandersnow, 41, grew up in Washington Township, has a background in finance and currently works in commercial real estate lending. He is also a soccer dad who has logged many hours watching or running practices for his 10-year-old daughter and 8-year-old son. He said he saw the need for more practice space in Bergen County and was looking for locations when he spotted the Kmart building.

The Kmart, which was built in 1979, closed a year ago after its lease expired. The building is in a strip shopping center owned by the Stop & Shop supermarket chain, and that also houses a Stop & Shop store.

https://www.northjersey.com/news/empty-kmart-in-paramus-scores-a-new-use-1.1481534

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As bamboo grows, so do neighborly feuds

Bamboo

DECEMBER 28, 2015, 11:12 PM    LAST UPDATED: MONDAY, DECEMBER 28, 2015, 11:16 PM
BY NICHOLAS PUGLIESE
STAFF WRITER |
THE RECORD

Good fences make good neighbors — unless there is bamboo involved. In that case, neighbors might curse, sue or move altogether, leaving behind hard feelings and a yard overtaken by the rapidly spreading plant.

Bamboo — sometimes used instead of a fence to mark property lines or lend privacy to a home — has quietly emerged as a divisive issue in suburban North Jersey, where homeowners have joined local and state officials in debating how to regulate the plant. In the process, they have had to grapple with questions about enforcement, property rights and even the role of government itself.

The growing consensus: There is no easy fix.

More than a dozen municipalities across the state — including Wayne, Emerson, Hillsdale, Palisades Park and Rockleigh — have some sort of bamboo regulation in place.

Others, like Washington Township, have considered adopting an ordinance to regulate bamboo, only to abandon the effort after concluding that it would be difficult to enforce, or that it was not the place of government to interfere with the rights of property owners or to mediate in disputes among neighbors.

“Bamboo is a problem between two neighbors,” said Mayor Max Arnowitz of Hillsdale, who is critical of the bamboo ordinance the Borough Council adopted earlier this year. “We usually say, ‘If you have a problem with your neighbor, you have to go to court.’ ”

Bamboo of the genus Phyllostachys — there are upward of 75 different kinds — is commonly called “running bamboo” because, if left unchecked, it can leap from yard to yard through a system of underground stems. Those stems are known to spread several feet in a matter of days, in defiance of property lines, and support canes — or culms, as they are properly known — that can grow as tall as 50 feet.

https://www.northjersey.com/news/as-bamboo-grows-so-do-neighborly-feuds-1.1481622

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NJ TRANSIT Offers Extra Service for New Years Eve

Ridgewood_Train_station_train-_is_coming_theridgewoodblog
December 29,2015
the staff of the Ridgewood blog

Alcohol ban strictly enforced system-wide

Ridgewood NJ, NJ TRANSIT is offering extra service for travelers attending New Year’s Eve festivities across the region.  Please note that no alcoholic beverages will be permitted on board trains, light rail vehicles, buses or in any NJ TRANSIT facility.  This policy will be strictly enforced by the NJ TRANSIT Police Department on New Year’s Eve and after midnight.

On New Year’s Eve, Thursday, December 31, rail service will operate on a weekday schedule with the following modifications:

Before 6 p.m., the Northeast Corridor and North Jersey Coast Lines will operate on a modified weekday schedule with certain morning peak period trains cancelled and additional mid-to-late morning service on each line. Extra mid-day Midtown Direct service will also operate between Summit and New York.

After 6 p.m., additional New York-bound trips will operate on the Northeast Corridor, North Jersey Coast and Morris & Essex lines. In addition, all trains that normally depart New York and Hoboken between 11:30 p.m. and 12:15 a.m. will be cancelled to support later service to customers returning from New York’s festivities. Customers should visit njtransit.com for details, including special printable schedules that cover the period from 6 p.m. on New Year’s Eve until 6 a.m. on New Year’s morning. For more information, click HERE.

Bus schedules vary by route.  Customers are advised to check their timetables or visit njtransit.com for schedule information.  Selected routes will operate on special holiday schedules, available on njtransit.com, to match service with ridership demand, including early getaway service from the Port Authority Bus Terminal and Jersey City Waterfront between noon and 4 p.m. to accommodate the heaviest travel, with less frequent service during the peak periods and later in the evening due to lower ridership.  Early getaway service will also operate from the Jersey City waterfront on the No. 64 and No. 68 bus routes.  In the evening, additional service to the Port Authority Bus Terminal will be offered on selected routes from approximately 3 p.m. to 9 p.m. to accommodate customers traveling to New York for the festivities.  For more information, click HERE.

Hudson-Bergen Light Rail, Newark Light Rail and River Line will operate on a weekday schedule.

In addition, River Line will operate extended late-night service on New Year’s Eve and after midnight on New Year’s Day to accommodate customers attending the festivities on the Camden Waterfront.  Special late-night trains will operate between Camden and Trenton, making all local stops.  For more information, click HERE.

Hudson-Bergen Light Rail will also operate added late-night service on New Year’s Eve into New Year’s Day to accommodate travelers returning home from midnight celebrations.  For more information for HBLR service, click HERE.

IMPORTANT NOTE:  No alcoholic beverages will be permitted on board trains, light rail vehicles, aboard buses or in any NJ TRANSIT facility on New Year’s Eve and after midnight on New Year’s Day.  This policy will be strictly enforced.

After midnight (early January 1), additional late-night trains will operate on most rail lines with one-seat ride service available on certain Raritan Valley Line and North Jersey Coast Line trains. Customers should visit njtransit.com for details, including special printable schedules that cover the period from 6 p.m. on New Year’s Eve until 6 a.m. on New Year’s morning. Expanded bus service will be provided from the Port Authority Bus Terminal (PABT) until approximately 2 a.m. on selected routes.  Visit njtransit.com for details.

On New Year’s Day, Friday, January 1, after 5 a.m., trains will operate on a weekend/major holiday schedule.  Newark Light Rail and River Line will operate on a Sunday schedule.  Hudson-Bergen Light Rail will operate on a weekend schedule.  Holiday bus schedules vary by route—customers are advised to visit njtransit.com for details.

On Saturday, January 2 and Sunday, January 3, trains will operate on a regular weekend schedule on all lines, with an additional train operating Sunday only on the Port Jervis Line. In addition, Meadowlands service will operate for the Giants vs. Philadelphia game on January 3. Customers should visit njtransit.com for details, especially those traveling to the Meadowlands for the 1 p.m. kickoff time. Buses will operate on a weekend schedule. Newark Light Rail will operate on a Saturday schedule. River Line will operate on a Sunday schedule. Hudson-Bergen Light Rail will operate on a weekend schedule. Please consult njtransit.com for additional details.

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Two Paths to NJ Redistricting?

VOTE_theridgewoodblog

By Jeff Brindle | 12/28/15 8:32am

In the Legislature, a bill is moving that would propose a constitutional amendment that would change the way the state’s legislative districts are configured.

Rather than basing redistricting on ten-year, census-driven population changes, the amendment would base redistricting on polling data measuring the average vote statewide over nine legislative election cycles.

Democratic proponents of the amendment maintain that it would ensure that ten legislative districts would be competitive, in turn contributing to higher voter turnout. But Republican opponents counter that it could undermine democracy by indefinitely locking in the current Democratic majorities in both legislative houses.

The proposed amendment is being introduced at a time when the U.S. Supreme Court is considering a case that well might affect state legislative redistricting, but in a different way.

The divergent paths of these two actions may clash at some future time, depending on the outcome of the ballot question and the decision of the high court.

https://politickernj.com/2015/12/two-paths-to-redistricting/?utm_source=Sailthru&utm_medium=email&utm_campaign=New%20Campaign&utm_term=Wake%20Up%20Call%20NJ

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N.J. education chief overturns public, non-public sports split

RHS stadium theridgewoodblog.net 2

DECEMBER 28, 2015, 5:38 PM    LAST UPDATED: TUESDAY, DECEMBER 29, 2015, 6:44 AM
BY GREGORY SCHUTTA
STAFF WRITER  |
THE RECORD

Years of debate. Months of meetings. Weeks of hand-wringing.

And in the end, athletes, coaches and officials of New Jersey high school sports find themselves right back where they started.

In a momentous announcement Monday, state Commissioner of Education David Hespe reversed controversial votes this month by state athletics’ governing body to separate public and non-public schools in football and on the road to the state wrestling tournament.

Related:  Landmark vote splits N.J. H.S. football along public/non-public lines

The decision forces the New Jersey State Interscholastic Athletic Association and school officials to yet again seek a lasting solution to the longest-running issue plaguing high school sports in the state: the competitive imbalance between public and non-public school teams.

“I’m disappointed,” said River Dell Athletic Director Denis Nelson, a strong proponent of the separation proposal in football. “The strategic and competitive advantage non-public schools have is going to continue. I don’t think it’s fair. I don’t think it’s right. But it is in existence.”

“We’re back to where we were,” said Bergen Catholic Athletic Director Jack McGovern. “I don’t know that that’s a great place. But now we know the parameters we have to work with, and we will continue to try to make it better.”

https://www.northjersey.com/sports/high-school-sports/n-j-education-chief-overturns-public-non-public-split-1.1481525

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Obamanomics: The rise and fall of the American middle class

Welcome_to_the_village_theridgewoodblog

Blog Editors Note : try increasing taxes, insurance and education costs , coupled with decline of the two parent household  , decline of work ethic, and regulating small business out of existence 

By John Aidan Byrne

December 27, 2015 | 2:34am

Downward mobility is catching on fast with America’s new economic underdogs — the emerging middle-class minority.

The ranks of the American middle class have sunk to a shocking new low.

After four decades as an economic majority, middle-class Americans are no longer in that admirable place. They’re down to 49.9 percent from 61 percent of the population in 1971, with the ranks of the poor and ultrarich growing to a majority in the US.

“The fabric of income distribution is stretching thin,” Rakesh Kochhar, lead author of the recent Pew Research Center study “The American Middle Class Is Losing Ground,” told The Post.

“There’s been a hollowing out in the middle, a bulking up on the edges. The gaps are at record highs,” Kochhar said, adding that the wealth of upper-income families is now about seven times that of the middle class, compared with three times about 30 years ago.

Meanwhile, the middle-class share of US household income has plunged from 62 percent in 1970 to 43 percent today.

And for lower-income families looking to move up to middle-class status, that accomplishment is getting harder to pull off, according to new analysis.

Analysts offer no single explanation for the decline of America’s middle class.

Years of wage stagnation, the decline of unions, a skills gap, economic malaise, taxation, debt and policymaking are often cited, as is technological efficiency in a more globalized economy that rewards outsourcing. Some analysts say the Fed’s trillions of dollars in quantitative easing ended up disproportionately in the hands and wallets of bankers and other upper-middle-class Americans.

https://nypost.com/2015/12/27/the-rise-and-fall-of-middle-class-america/?utm_campaign=SocialFlow&utm_source=NYPFacebook&utm_medium=SocialFlow

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Ashley Madison says it added 4 million members since the hack

ashleymadison

by David Goldman   @DavidGoldmanCNNDecember 28, 2015: 12:43 PM ET

Despite the infamous hack that exposed millions of cheaters online, infidelity dating site Ashley Madison says its ranks are growing.

At the time of the hack, Ashley Madison said it had 39 million members. The website now says it has more than 43 million members, according to a rolling count on its homepage.

What’s behind the apparent customer growth? A spokesman for Ashley Madison parent company Avid Life Media isn’t saying. He said the website had no update to provide since its last statement on August 31, and it would not comment for this report.

In its last public statement, Avid Life said that reports of its imminent demise were “greatly exaggerated,” and cheaters continued to use the site more than ever — even though 32 million of its members’ identities were revealed in the massive data breach this summer.

The hack was bad enough, but the information revealed as part of the breach was pretty damning for the company. The list of names appeared to show that upwards of 95% of Ashley Madison’s members were men.

The company denied that, saying that journalists were misreading the exposed information. Instead, Ashley Madison said that the ratio of men to women who “actively used their account” was 1.2 to 1.

https://money.cnn.com/2015/12/28/technology/ashley-madison-new-members/index.html

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The Year Nothing Worked: Stocks, Bonds, Cash Go Nowhere

Wall-Street

Lu Wang
December 28, 2015 — 12:00 AM ESTUpdated on December 28, 2015 — 10:32 AM EST

It’s the worst year for asset allocation funds since 1937
A 2.2% gain in the S&P 500 is roughly the best anyone could do

The idea behind asset allocation is simple: when one market struggles, it’s OK because an investor can jump into another that is thriving. Not so in 2015.

In fact, if you judge the past year by which U.S. investment class generated the largest return, a case can be made it was the worst for asset-allocating bulls in almost 80 years, according to data compiled by Bianco Research LLC and Bloomberg. With three days left in 2015, the Standard & Poor’s 500 Index gained 2.2 percent with dividends, cash is up less, while bonds and commodities show losses.

After embracing everything from Treasuries to high-yield bonds and technology shares amid seven years of zero-percent interest rates, investors found themselves with nowhere to run at a time when the Federal Reserve’s campaign of stimulus drew to an end. Normally it isn’t like this. Since 1995, practically every year has seen some asset deliver returns exceeding 10 percent.

“It’s been challenging from the point of view that the equity market and bond market are probably more joined at the hip than normal,” said Hayes Miller, the Boston-based head of multi-asset North America who helps oversee $35.8 billion for Baring Asset Management LLC. “We’ve had high cash exposure relative to norm because we felt cash provides one of the only good diversifiers against the risk-off trade.”

Bianco Research keeps track of the S&P 500, 30-year U.S. Treasury bonds, 3-month Treasury bills and the Thomson Reuters/CoreCommodity CRB Commodity Index to gauge performance in stocks, bonds, cash and commodities. The four are the most common asset classes considered by investors when an allocation strategy is designed, according to Jim Bianco, the founder.

 

https://www.bloomberg.com/news/articles/2015-12-28/the-year-nothing-worked-stocks-bonds-cash-go-nowhere-in-2015