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Chris Christie

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  • Atlantic City vs Detroit: Who is better off? Friday, 23 Jan 2015 | 5:22 PM ET

    Jan 23- "At least we're not Detroit," Atlantic City's Mayor joked just last week during his state of the city address. Yet by some measures, Atlantic City is in worse shape than Detroit, with which it shares such traits as a high poverty rate. While the Motor City's Big Three automakers emerged from crisis by the time Detroit was being restructured, Atlantic City's...

  • Jan 23- Moody's Investors Service slashed Atlantic City's credit rating six notches deeper into junk territory on Friday, a day after New Jersey Governor Chris Christie appointed an emergency manager with a mandate to consider a debt restructuring. Atlantic City has about $344 million of long-term debt outstanding. The order from Christie to consider a...

  • ATLANTIC CITY, N.J.— Wall Street is looking at Atlantic City's financial future and doesn't like what it sees. Moody's Investors Service on Friday lowered Atlantic City's bond rating by six steps, from Ba1 to Caa1, which is deep into junk territory. Chris Christie appointed corporate turnaround specialist Kevin Lavin as the city's emergency manager, and Kevyn...

  • Officials warn about New Jersey's roads and bridges Friday, 23 Jan 2015 | 11:10 AM ET

    Chris Christie's transportation commissioner, along with outside groups are stepping up warnings about the dire state of New Jersey's bridges, roads and tunnels. The trust fund brings in about $1.2 billion in revenue, but those funds pay down the program's debt, while new projects are paid for through bonding and cash infusions from the Port Authority of New...

  • ATLANTIC CITY NJ/ NEW YORK Jan 22- A new emergency management team for the casino resort town Atlantic City said it would take about six months for a turnaround plan to show results but it was' premature' to talk about bankruptcy for the city, which has seen gaming revenues decimated. New Jersey Governor Chris Christie on Thursday appointed a turnaround team,...

  • Powers of Atlantic City's new emergency manager Thursday, 22 Jan 2015 | 1:55 PM ET

    Chris Christie has appointed corporate turnaround specialist Kevin Lavin as the emergency manager for Atlantic City, and named Kevyn Orr, who helped Detroit through its municipal bankruptcy, as special counsel to Lavin. —Prepare within 60 days a plan to place the finances of Atlantic City in stable condition on a long-term basis by any and all lawful means,...

  • ATLANTIC CITY, NJ/ NEW YORK Jan 22- New Jersey Governor Chris Christie on Thursday appointed a turnaround team, including former Detroit emergency manager Kevyn Orr, for Atlantic City in a step the struggling casino town has resisted. The team will be led by Emergency Manager Kevin Lavin, who previously worked for business and turnaround consultancy FTI.

  • TRENTON, N.J.— The state Labor and Workforce Development Department says New Jersey lost 400 jobs in December, but the unemployment rate dropped to 6.2 percent from 6.4 percent in November. The unemployment rate has fallen 1 percentage point since December 2013 and is down 3.5 percentage points from December 2009. Chris Christie highlighted the falling rate in...

  • NEW YORK Jan 22- New Jersey governor Chris Christie plans on Thursday to introduce former Detroit emergency manager Kevyn Orr as part of an emergency management team for struggling Atlantic City, according to a press invitation to the event. A former corporate bankruptcy lawyer at the firm Jones Day, he most recently guided Detroit through the biggest-ever...

  • ATLANTIC CITY, N.J.— In naming an emergency manager for Atlantic City on Thursday, New Jersey Gov. Neither man would say whether a Detroit-style bankruptcy filing is in store for Atlantic City, calling such talk premature. But the emergency order Christie issued gives Lavin the power "to place the finances of Atlantic City in stable condition on a long-term basis...

  • CONCORD, N.H.— Mitt Romney launched his last campaign for president at a New Hampshire farm, relied upon a New Hampshire victory to fuel his strategy to win the nomination and even posed the photos of his last family Christmas card on the shores of a New Hampshire lake where he still owns a home. But whatever home-field advantage the Republican Party's 2012 nominee...

  • Dueling Atlantic City recovery plans as 3rd summit looms Wednesday, 21 Jan 2015 | 1:09 PM ET

    ATLANTIC CITY, N.J.— Democratic and Republican plans to help Atlantic City recover from its eight-year losing streak are clashing as Gov. But a plan by Whelan and Senate president Steve Sweeney would place the same restriction on Atlantic City's casinos, in return for letting them make payments in lieu of taxes for 15 years. He said the state Legislature needs to...

  • SEASIDE PARK, N.J.— A study by a leading coastal science center lends new support to New Jersey's efforts to build protective sand dunes along its 127- mile coast. The Coastal Research Center at the Richard Stockton College of New Jersey studied the state's beaches just before and after Superstorm Sandy in October 2012. Seaside Heights, the internationally...

  • After Alliance ends, who will promote Atlantic City? Monday, 19 Jan 2015 | 11:10 AM ET

    ATLANTIC CITY, N.J.— Abolishing the Atlantic City Alliance, the marketing arm of the casinos that urged people to "Do AC" and staged big, free public events to promote the resort city, is a key element of state plans to help the city recover from its financial crisis. But if legislation proposed by two Democratic state senators— one of them a former Atlantic City mayor—...

  • TRENTON, N.J.— Lawmakers in the Democratic-controlled Legislature are pursuing a new effort to restore New Jersey's participation in a regional cooperative aimed at cutting greenhouse gas emissions. Chris Christie's veto of similar legislation in 2011 and 2012, an Assembly committee this week passed a measure that calls for the state's participation in...

  • NUTLEY, N.J.— Seton Hall University and the parent company of Hackensack University Medical Center are planning to build a private medical school that could open in 2017.. Chris Christie will be on hand for the announcement Thursday at the former Nutley campus of Swiss medical products firm Roche Holding that closed in 2013.. Two are affiliated with Rutgers...

  • TRENTON, N.J.— A judge weighing whether she has the power to force Gov. Chris Christie and the Legislature to make promised payments to public employee pension funds seemed on Thursday to reject a state administration lawyer's argument that there was no way to make the payments. State Superior Court Judge Mary Jacobson raised her doubts during a daylong hearing...

  • NEW YORK, Jan. 12- New Jersey Governor Chris Christie, under pressure to decide whether to seek the Republican nomination for president in 2016, has a chance this week to reset his governorship after being stymied all year by national controversies and home-grown fiscal crises. After a difficult year, Christie may "try to regain some momentum and frame his tenure,...

  • NEW YORK, Jan. 11- New Jersey Governor Chris Christie, under pressure to decide whether to seek the Republican nomination for president in 2016, has a chance next week to reset his governorship after being stymied all year by national controversies and home-grown fiscal crises. After a difficult year, Christie may "try to regain some momentum and frame his tenure,...

  • Jan 8- Atlantic City has endorsed steep budget cuts but rejected the idea of a state-appointed emergency manager as part of the struggling New Jersey gambling hub's recovery plan. Atlantic City has seen its municipal finances decline with the fortunes of its local casino industry, which has suffered steep losses from competing casinos in nearby states.