Author: James

Moody’s expects to cut US rating without deal to lower debt/GDP ratio
By Market News International  || September 11, 2012 at 13:00 GMT

WASHINGTON (MNI) – The following is the text of a statement Tuesday
by rating agency Moody’s:

Budget negotiations during the 2013 Congressional legislative session will likely determine the direction of the US government’s Aaa rating and negative outlook, says Moody’s Investors Service in the report “Update of the Outlook for the US Government Debt Rating.”

If those negotiations lead to specific policies that produce a stabilization and then downward trend in the ratio of federal debt to GDP over the medium term, the rating will likely be affirmed and the outlook returned to stable, says Moody’s.

If those negotiations fail to produce such policies, however, Moody’s would expect to lower the rating, probably to Aa1.

Moody’s views the maintenance of the Aaa with a negative outlookinto 2014 as unlikely. The only scenario that would likely lead to itstemporary maintenance would be if the method adopted to achieve debt stabilization involved a large, immediate fiscal shocksuch as would occur if the so-called “fiscal cliff” actually materialized which could lead to instability. Moody’s would then need evidence that the economy could rebound from the shock before it would consider returning to a stable outlook.

Moody’s notes that it is difficult to predict when during 2013 Congress will conclude negotiations that result in a budget package. The Aaa rating, with its negative outlook, is likely to be maintained until the outcome of those negotiations becomes clear.

The rating outlook also assumes a relatively orderly process for the increase in the statutory debt limit, says Moody’s. The debt limit will likely be reached around the end of this year, and the government’s ability to meet interest and other expenses out of available resources
would likely be exhausted within a few months after the limit is reached.

Under these circumstances, the government’s rating would likely be placed under review after the debt limit is reached but several weeks before the exhaustion of the Treasury’s resources. Moody’s took a similar action during the summer of 2011.

** MNI Washington Bureau: 202-371-2121 **

Why is Obama skipping more than half of his daily intelligence meetings?
By Marc A. Thiessen, Published: September 10

President Obama is touting his foreign policy experience on the campaign trail, but startling new statistics suggest that national security has not necessarily been the personal priority the president makes it out to be. It turns out that more than half the time, the commander in chief does not attend his daily intelligence meeting.

The Government Accountability Institute, a new conservative investigative research organization, examined President Obama’s schedule from the day he took office until mid-June 2012, to see how often he attended his Presidential Daily Brief (PDB) — the meeting at which he is briefed on the most critical intelligence threats to the country. During his first 1,225 days in office, Obama attended his PDB just 536 times — or 43.8 percent of the time. During 2011 and the first half of 2012, his attendance became even less frequent — falling to just over 38 percent. By contrast, Obama’s predecessor, George W. Bush almost never missed his daily intelligence meeting.

https://www.washingtonpost.com/opinions/why-is-obama-skipping-more-than-half-of-his-daily-intelligence-meetings/2012/09/10/6624afe8-fb49-11e1-b153-218509a954e1_story.html

Vision for Ridgewood’s downtown viewed as key to future
MONDAY SEPTEMBER 10, 2012, 12:34 PM
BY LAURA HERZOG
STAFF WRITER
THE RIDGEWOOD NEWS

In the past three weeks, The Ridgewood News has analyzed several obstacles facing businesses trying to open, survive and thrive in the Central Business District (CBD).

Business owners say adjustments to certain aspects of the Village Code may help improve the Central Business District.

Partially because of an outdated Village Code, problems can begin for a business owner long before they set up shop in the village. Then, for some business owners already working in the CBD, the village’s operations can make business in an already tough economy more stressful.

However, perhaps most pressing of all is Ridgewood’s need to develop its “vision” for the future, according to members of the business community and village officials.

Besides the oft-cited concerns of parking and high rents, business owners hoping to do business in the village are often faced with a lengthy permit process during which they can lose money before even opening. Muscle Maker Grill owner Paul McManaman is still working to make up capital he lost while waiting to open.

Some village business owners have claimed that fines they received for non-compliance with ordinances have left them feeling the village is unwilling to work with them. And a large number of restaurants in the CBD has some retailers wondering whether Ridgewood, unlike some other municipalities, lacks a firm concept of its identity and aspirations.

But what can be done? And what is being done?

https://www.northjersey.com/news/169183776_Vision_for_Ridgewood_s_downtown_viewed_as_key_to_future.html

photo by Artchick.biz

September 11 Remembrance in Ridgewood

Ridgewood will honor the memory of the 12 lost at the World Trade Center in 2001 with the Portrait Exhibit displayed at the Ridgewood Public Library for the month of September.

This exhibit provides a special place to reflect and remember.

Mt. Carmel Catholic Church will hold a Mass at 7:30PM on September 11th. The Mayor will participate by reading a Proclamation from the Village Council.

Remembering Those We Lost on 9/11

It has been eleven years since the fateful Tuesday morning that changed the lives of every American forever. This September 11th, our country will once again join together to mourn that tragic day, comfort survivors, support friends and family and remember how fortunate we are to live in a free country.

The wounds we endured that day, both physical and mental, will never fully heal. The images of airplanes hitting the World Trade Center, the Pentagon and Flight 93 crashing in Pennsylvania are now woven into the tapestry of American life. Here in New Jersey, we can all tell personal stories of loved ones, friends, colleagues and neighbors who never made it home. Everything changed that day, but our spirit survived.

Firefighters, police officers and EMTs and every day citizens jumped into action, motivated by the spirit to serve and protect their fellow man. With their own lives on the line, they ran into the buildings, toward the fire and flames. Many of them paid the ultimate sacrifice for their bravery and we are eternally grateful to them.

In the days, weeks and months after the attacks, our men and women in the armed forces embarked on a campaign to eliminate terrorist forces and bring our enemies to justice. Eleven years later, after taking down the mastermind of the operation and many of his cohorts, American troops continue to fight for our way of life.

As President Franklin D. Roosevelt once said, “In the truest sense, freedom cannot be bestowed; it must be achieved.” The forces of evil that tried to fill our hearts with vulnerability and fear underestimated our resiliency. Americans are free people and as free people we will live and prosper.

My thoughts and prayers are with all those who mourn the loss of loved ones on September 11th. May God bless their memory and may God bless the United States of America.
Sincerely,

Scott Garrett

GM’s Volt: The ugly math of low sales, high costs
By Bernie Woodall and Paul Lienert and Ben Klayman

Mon Sep 10, 2012 1:14pm EDT

(Reuters) – General Motors Co sold a record number of Chevrolet Volt sedans in August — but that probably isn’t a good thing for the automaker’s bottom line.

Nearly two years after the introduction of the path-breaking plug-in hybrid, GM is still losing as much as $49,000 on each Volt it builds, according to estimates provided to Reuters by industry analysts and manufacturing experts. GM on Monday issued a statement disputing the estimates.

Cheap Volt lease offers meant to drive more customers to Chevy showrooms this summer may have pushed that loss even higher. There are some Americans paying just $5,050 to drive around for two years in a vehicle that cost as much as $89,000 to produce.

And while the loss per vehicle will shrink as more are built and sold, GM is still years away from making money on the Volt, which will soon face new competitors from Ford, Honda and others.

GM’s basic problem is that “the Volt is over-engineered and over-priced,” said Dennis Virag, president of the Michigan-based Automotive Consulting Group.

https://www.reuters.com/article/2012/09/10/us-generalmotors-autos-volt-idUSBRE88904J20120910

Historic Schedler Zabriskie Property

New Jersey struggles to capitalize on its historic past

When officials gathered last month in an attempt to get more attention for a Revolutionary War site, they were swimming against the tide of recent history.

Despite the lingering effects of the recession, tourism remains big business in New Jersey. The Garden State accounted for $38 billion of the nation’s $1.2 trillion tourism revenues last year, according to the U.S. Department of Commerce.

That total made tourism New Jersey’s third-largest industry, behind pharmaceuticals and chemicals. With more than 900,000 tourists, New Jersey was America’s ninth most-visited state, according to the World Travel Association.

Even before the economic downturn, though, many involved with “heritage tourism” were concerned about some trends in how travelers view art and history.  (Tyrrell, NJ Spotlight)

https://www.njspotlight.com/stories/12/0909/2341/

NJ lawmakers begin study of online education in charter schools

Online education in charter schools — in all its different and controversial forms — will get the first of what could be several Statehouse hearings this week, as legislators start to sort out what is growing to be one of the state’s more contentious issues.

The Joint Committee on the Public Schools will host the hearing on Wednesday morning, at 11 a.m., with presentations by three national proponents of online education.

The three are Susan Patrick of the International Association for K-12 Online Learning; Michael Horn of the Education of Innosight Institute; and Jeanne Allen of the Center for Education reform.

The new co-chairman of the joint committee, state Assemblywoman Connie Wagner (D-Bergen), said she wants the first hearing to be devoted to defining the issue, one that has become easily confused with a host of different terms for the different kinds of programs.   (Mooney, NJ Spotlight)

https://www.njspotlight.com/stories/12/0909/2203/

N.J. schools step up teacher evaluations

Now that it really counts, school districts across New Jersey have to figure out how they are going to evaluate their teachers — and fast.

It’s a complicated question. And under a state law signed last month to make tenure harder to get and easier to lose for educators, districts need to find answers by the 2013-14 school year. The most vexing issue is expected to be determining exactly how standardized test results should fit into the picture.

District officials and teachers unions alike wonder whether that gives most schools enough time to make such big changes.  (Associated Press)

https://www.app.com/viewart/20120910/NJNEWS15/309100006/N-J-schools-step-up-teacher-evaluations

VFW Post 192 Youth Contests, Teacher, and Civil Servant Recognition

LOCAL HIGH SCHOOL STUDENT COULD WIN A TRIP TO WASHINGTON, D.C. AND A $30,000 SCHOLARSHIP IN VFW’S VOICE OF DEMOCRACY COMPETITION

VFW Post Commander Stanley A. Kober of the Washington Elm Veterans of Foreign Wars (VFW) Post #192 (Ho-Ho-Kus—Ridgewood), announces the kick-off of this year’s National VFW and its Ladies Auxiliary “Voice of Democracy (VOD) Scholarship Competition.”  High school students in this area have the opportunity to compete in the annual audio essay competition and win thousands of dollars in scholarships, a trip to Washington, D.C., as well as dozens of other awards.  This program is endorsed by the National Association of Secondary School Principals (NASSP).

High School students begin by competing at the local Post level.  Deadline for the student’s original entries to arrive at VFW Post #192 is November 1, 2012.  Post awardees advance to District.  District awardees compete in the NJ state competition.  The state awardee will enjoy an all-expense paid trip to Washington, D.C., March 2-6, 2013, along with the awardees from every state, the District of Columbia, the Pacific Areas, Latin America and the Caribbean, and Europe.

During the more than 60 years that the Veterans of Foreign Wars and its Ladies Auxiliary have been involved with Voice of Democracy, more than 7 million high school students have participated.  Students compete by writing and then recording in their own words a three-to-five minute audio/essay expressing their views on this year’s patriotic theme, “Is Our Constitution Still Relevant?”.

All State awardees receive at least a $1,000 national scholarship but any one of them could win the $30,000 first place scholarship award.  A total of $152,000 in national scholarships is awarded to national finalists in addition to the scholarships and awards given at the preliminary levels of competition.

Interested high school students and teachers from Ho-Ho-Kus, Ridgewood, Saddle River, and Upper Saddle River should contact the Washington Elm VFW Post #192 (Ho-Ho-Kus—Ridgewood) by telephone at 201-445-1121 or immediately write to the Washington Elm VFW Post #192 (Ho-Ho-Kus—Ridgewood) at 620 Cliff Street, Ho-Ho-Kus, NJ 07423 for an application.

Applications also are available on the Post 192 website at www.vfwpost192-nj.com ABOUT VFW>CONTESTS AND SCHOLARSHIPS.

May God continue to Bless America!

/s/ Stanley A. Kober
Stanley A. Kober
Commander,
Washington Elm VFW Post #192
Ho-Ho-Kus—Ridgewood
620 Cliff Street
Ho-Ho-Kus, NJ 07423

Tim Gunn, Monday, September 10th @ 7:00pm
Co-Host of Project Runway, Tim Gunn will sign his new book: Tim Gunn’s Fashion Bible

Appearing authors will only autograph books purchased at Bookends and must have valid Bookends Receipt.Availability & pricing for all autographed books subject to change.Bookends cannot guarantee that the books that are Autographed will always be First Printings.
Autographed books purchased at Bookends are non-returnable.

While we try to insure that all customers coming to Bookends’ signings will meet authors and get their books signed, we cannot guarantee that all attendees will meet the author or that all books will be signed. We cannot control inclement weather, author travel schedules or authors who leave prematurely.

Bookends, 211 E. Ridgewood Avenue, Ridgewood, NJ 07450 201-445-0726