At the center of the challenge is a question: Can this iconic Jersey Shore resort, which resurrected itself from decades of decay by welcoming casinos in the mid-1970s, find some new attraction besides legalized gambling to serve as a foundation for a more prosperous...
Topic
Atlantic City
Christie announces state takeover of Atlantic City finances
Ultimately, whether its a takeover depends on nuances of the legislation, said Mark Pfeiffer, a former deputy director with the state Division of Local Government Services. Will the city council be consulted? Will the Local Finance Board act on the council's behalf?...
Atlantic City Officials Vow to Fight State Takeover of Finances
“The state can make some tough decisions that are very, very difficult for local officials to make because of local political pressures. For example, you have to cut costs in Atlantic City in order to reflect what the city is today, not what it was 25 years ago, when...
Atlantic City facing possible default, Wall Street warns
Joseph Seneca, a Rutgers University economist, said Wall Street's warnings held no surprise. "The fiscal realities here and now though are pretty dire," he remarked. "The drop of more than 50 percent drop in the tax base is stunning. It has to have deep and...