Atlantic City May Default -- July 27, 2016

Wow, I haven't added an entry to this page in a long, long time. From Bloomberg:

Atlantic City is likely to default on $3.4 million of debt payments on Aug. 1 without an agreement with New Jersey on a $74 million bridge loan or other state action, according to Moody’s Investors Service.

Although state lawmakers had approved a loan as part of a rescue package in May for the distressed gaming hub, the terms are still being worked out between the state and city. Mayor Don Guardian told residents in a meeting Tuesday evening that city council would approve the agreement when it’s reached, according to a presentation on the city’s website.

The last time Atlantic City was mentioned was over a year ago:

• Atlantic City, NJ: six notches deeper into junk territory, January 13, 2015.

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Notes to the Granddaughters

This is so incredibly cool. The "girls" have arrived in San Jose. Southlake, TX, sent seven teams to the National Junior Olympics water polo tournament in San Jose, CA: four boys teams and three girls teams. Seven hundred teams from across the US are competing. The boys have completed their four-day tournament. The girls arrived today; scrimmaged; and will start the tournament tomorrow.

Arianna is on the 14 and under team.

Grandma May flew out to attend the tournament.