This could be a problem for Governor Chris Christie if he intends to run for President — click to read

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I know that many think ‘Bridge-gate’ is an issue for Governor Christie should he decide to run for President in 2016, but, at least as it stands now, I don’t think that will be a problem for the Governor. I have not yet seen evidence tying Governor Christie directly to the scandal.

But I do think he faces a far bigger problem and that is the economic condition of Atlantic City, a very important city in the State of New Jersey.   See the article below.  

I have no idea why the casinos are closing but, as the Governor, he is the leader of the state, including its economy and thus is ultimately responsible.  There may be a good reason for this decline in Atlantic City apart from leadership  and, it may be unfair to blame a Governor for cities in decline in their states, but governors are the steward of their state’s financial health. 

I think Atlantic City should be booming — it has the ocean which is a huge attraction to people — and instead it is bleeding jobs….and businesses are closing.  Why?  

My husband insists “Atlantic City has always been in trouble economically” but that hardly seems like a good excuse to me.  If anything, that sounds to me like a good reason to have made some huge adjustments in the economy in Atlantic City.  I know casinos are closing in many parts of the country – and in part due to people not having extra money to gamble and vacation in an economic downturn – but even that would be a hint that some really good and new ideas need to be implemented.  

The next President (Republican or Democratic) must have a STRONG RECORD of job creation and evidence that he or she can be a great steward of our economy.  A bad jobs or economic record could be politically fatal.   

Our nation is in a tough economic condition — people are still out of work, jobs open don’t match skills people have, and we owe a great deal of debt (excess of 17 trillion dollars.)  If our economy were roaring now, we would not have nearly the problems we do — even with such issues as to caring for children at the border or in an inner city like Chicago.   We could afford these problems if the nation’s economy were not so mismanaged.  The problems our nation faces – including national security – will only get worse if our economy doesn’t pick up more steam. 

This Atlantic City issue below could be a very bad sign for New Jersey’s Governor Chris Christie if he wants to be President in 2016.   I realize that these casinos pre date Governor Christie (he took office in 2010) and that increased competition from casinos in other states creates a hurdle for casinos in New Jersey but nonetheless….these problems should have been anticipated and better handled.  His only way out of this might be if he has a fantastic economic record state wide or a historically troubled city like Newark is on the upswing and really cooking economically. Or here is another way out of this – that other governors who might run have bigger economic problems in their states so that this looks not so significant.

What do you think?  Do you agree with me?  Big deal? not a big deal?  And is the Governor ultimately responsible? or not?  Tell me what you think…and what will MOST influence your choice for President in 2016?

 

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Owners of Trump Plaza casino expect mid-September closure

Published July 12, 2014Associated Press

 

ATLANTIC CITY, N.J. – Atlantic City’s crumbling casino market disintegrated even further Saturday as the owners of the Trump Plaza casino in Atlantic City said they expect to shut down in mid-September.

 

Trump Entertainment Resorts told The Associated Press that no final decision has been made on the Boardwalk casino. But the company said it expects the casino to close its doors Sept. 16.

 

Notices warning employees of the expected closing will go out to the casino’s 1,000-plus employees Monday.

 

If Trump Plaza closes, Atlantic City could lose a third of its casinos and a quarter of its casino workforce in less than nine months. The Atlantic Club closed in January, the Showboat is closing next month and Revel might do likewise if a buyer can’t be found in bankruptcy court.

 

Trump Entertainment Resorts told the AP that its managers and board of directors “have been reviewing alternatives for the property. Although this review has not been completed and no final decision has been made, the company expects that it will terminate the operations of Trump Plaza Hotel and Casino on or shortly after September 16, 2014.”

 

A source with direct knowledge of the situation who was not authorized to speak to the media told the AP that the company has hired a search firm to solicit buyers for Trump Plaza, an effort that remains ongoing. So far, no buyer has emerged.

 

The company did not indicate what might become of the building after it is closed.

 

Trump Plaza, which cost $210 million to build, opened in May 1984 as one of Donald Trump’s pet projects. The real estate mogul has since limited his dealings in Atlantic City to a 10 percent stake in Trump Entertainment Resorts and does not control its day-to-day operations.

 

The news is the latest in a cascade of setbacks for Atlantic City’s gambling market, which until just a few years ago was the second-largest in the nation after Nevada; Pennsylvania has now taken over that spot. Analysts have long said that the casino market here, and in the Northeastern United States, has been oversaturated, and that some casinos need to close to ensure the survival of others.

 

That’s what is behind the decision by Caesars Entertainment, the world’s largest casino company, to shutter the still-profitable Showboat next month. CEO Gary Loveman said Atlantic City has too many casinos. The company will still operate three other Atlantic City casinos.

 

Caesars also joined with Tropicana Entertainment to buy the Atlantic Club from bankruptcy court last December, divide its assets and shut it down.

 

On Jan. 1, Atlantic City had 12 casinos. By the end of September, it could have eight.

 

The Atlantic Club closure cost 1,600 workers their jobs. An additional 2,100 at Showboat will be unemployed as of Aug. 31, in addition to the 1,009 Trump Plaza workers on the payroll. Revel has 3,100 workers who could lose their jobs if the 2-year-old casino resort is not sold.

 

Trump Entertainment Resorts has tried for years to sell Trump Plaza, the poorest performing casino in Atlantic City despite its prime location at the center of the Boardwalk at the end of the Atlantic City Expressway, the resort’s main gateway into the city. A deal to sell it last year for $20 million to a California firm fell through.

 

It won less than $73 million from gamblers in all of last year, ranking last out of the 12 casinos that operated then. So far this year it has taken in nearly $21 million, down almost 27 percent from the same period last year.

 

The company had three Atlantic City casinos before it sold Trump Marina to Texas-based Landry’s Inc. which turned it into the Golden Nugget Atlantic City in 2011. Trump Entertainment will now operate just one casino, the Trump Taj Mahal Casino Resort.

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