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Liquor Licenses Renewed, Moody Gives Negative Rating to CC, Depressing Financial News, Bleak Housing Market | cnbnews.net

 

CNBNEWS. NET TIPS AND SNIPPETS

BY BILL CLEARY

Liquor Licenses Renewed-Gloucester City Mayor and Council, at the June 4 work session approved the Rds_news renewal of 7 tavern licenses, three liquor store licenses, four club licenses and one catering hall license. They include: Max’s Cafe, 32-34 N. Burlington St., Jacks Bar and Grill, 200 S. Broadway, Highland Tavern, 308 Orlando Ave., Vitale’s Italian Bistro, 942 S. Ninth St., Caps Saloon, 312-14 Jersey Ave., Quality Inn, 1200 Crescent Blvd. McMichael’s Pub and Grill, 157 S. Broadway.

Also Liquor Barn, Rt. 130 and Highland Blvd., Gloucester Discount Liquor, 139 S. Broadway, Neunheuser’s Family Liquors 237 N. Broadway, American Legion Post 135 Atlantic and Cumberland Sts., VFW Post 3620, 27 N. Burlington, Gloucester Sportsmen's A.C. 22 N. Burlington, Independent Citizens Athletic Club, 528 Monmouth Street, and Carrera Catering 419 Highland Blvd.  

The City charges $1,650 for a Plenary Retail Consumption license, $1,150 for a Plenary Retail Distribution license and $188 for a club license. All liquor licenses must be renewed for the next fiscal year by the end of this month.

 

Bad News for Camden County NJ-Moody's Investors Service on June 7 assigned a Aa2 rating and negative outlook to Camden County Improvement Authority's (NJ) $8.0 million County-Guaranteed Lease Revenue Bonds (Camden County Technical Schools Energy Savings Improvement Program), Series 2012. The Bonds are ultimately secured by the unlimited property tax pledge of the county. Proceeds from the bonds will be used to finance the acquisition and installation of energy savings equipment as part of an energy savings improvement project for Camden County Technical Schools. Concurrently, Moody's has maintained the Aa2 rating with a negative outlook on the county's $806.9 million of outstanding general obligation and county-guaranteed debt...

Depressing Financial News-The recession has crushed household wealth according to the Federal Reserve’s 2010 Survey of Consumer Finances released on June 7. Based on 6,492 interviews with U.S. consumers, the Fed's Survey of Consumer Finances is among the most widely accepted, accurate snapshots available of Americans' finances. The survey is only released every three years. The survey also shed light on just how devastating the recession was to households' balance sheets. American household's median net worth fell a whopping 38.8% between 2007 and 2010, according to the survey, thanks largely to the collapse in value of many people's homes. Meanwhile, median incomes fell for most consumers, with the steepest drops in income sustained by highly educated families, families headed by someone younger than 55 and families living in the South and the West.

Housing Market Looking Bleak-There is a glut of properties for sale in the immediate area according to the website www.homes.com. For example in Gloucester City there are (120), Audubon (85), Barrington (48), Bellmawr (96), Brooklawn (22), Camden (430), Cherry Hill (725), Collingswood (167), Mt. Ephraim (72), Westville (113), Deptford (398). On the other hand if you are looking to buy a new property you have plenty to choose from. 

California-based RealtyTrac, which collects foreclosure data, said one out of every 980 homes in the Philadelphia region was in some state of foreclosure during the month. Filings were up 1.64 percent from April and 57.71 percent from May 2011, as foreclosures continue to spike locally this year. Read More at  Philadelphia Business Journal

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