Tag: American Dream Meadowlands

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Reader says , I’m sure the unions will do a great job managing their own pensions

Xanadu_main_theridgewoodblog

Good news. The faster the plans go insolvent the faster benefits can be diminished. Wonder if the unions will lower the assumed rate of return from 7.65% to actual 20 year returns of only 7.2%? Maybe they can bet all of the funds on red in Atlantic City? Or use updated actuarial data on lifespan which will add 2-3 years of pension liabilities per retiree? How will they resolve the issue of only 1.24 contributing workers for every retiree? Maybe they’ll reinstate COLAs to deplete the funds even faster. NJ state and local taxpayers should be happy this mess is no longer theirs. Thanks PFRS.

I’m sure the unions will do a great job managing their own pensions. Maybe they can invest more in American Dream Meadowlands or put it all on red in the casino at their own Revel hotel?

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American Dream Meadowlands $1B bond sale still on hold

Xanadu_main_theridgewoodblog

Attorneys for Triple Five, the developer of American Dream Meadowlands, told the state Appellate Court in September that immediate dismissal of a lawsuit against the project must be made so as not to impede a complex financial sequence that must culminate on Nov. 4. The court dismissed the case the next day.

Yet more than nine weeks later, the project site looks as deserted as it has since before Christmas – and as it has many times over the past decade. The bond issuance plan – which has expanded to a planned $1.15 billion offering – was approved by the state for the first time in fall 2013.

https://www.northjersey.com/story/news/business/meadowlands-matters/2017/01/19/american-dream-meadowlands-1b-bond-sale-still-hold/96791274/?utm_campaign=Observer_NJ_Politics&utm_content=New%20Campaign&utm_source=Sailthru&utm_medium=email&utm_term=New%20Jersey%20Politics

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American Dream Meadowlands to miss another bond sale target

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BY JOHN BRENNAN
STAFF WRITER |
THE RECORD

The sale of $1.15 billion in bonds to fund the remaining construction of the American Dream Meadowlands shopping and entertainment complex will not take place as scheduled on Friday, a state official said Wednesday.

But Wayne Hasenbalg, the president of the New Jersey Sports and Exposition Authority, which owns the land where the $5.2 billion project is being built, added that he does not foresee any impediments to a closing taking place within the next 30 days.

https://www.northjersey.com/news/american-dream-meadowlands-to-miss-another-bond-sale-target-1.1686553?utm_campaign=Observer_NJ_Politics&utm_content=New%20Campaign&utm_source=Sailthru&utm_medium=email&utm_term=New%20Jersey%20Politics