Atlantic City’s casinos are struggling to deal with the aftermath of Superstorm Sandy by laying off workers and cutting back the hours of others.
The city’s 12 casinos had to close due to the storm for five to seven days in late October and early November. Even after they reopened, business slowed considerably.
The Atlantic Club turned to layoffs to help deal with the downturn. The two Trump casinos are making salaried workers take a week of unpaid time off, and barring hourly workers from using vacation days for time they were off during the storm.
Moody’s Investors Service predicts Atlantic City casino revenue could be down 25 percent for the next six months and earnings down 40 to 50 percent over that same period due to the storm. By contrast, casino companies outside New Jersey should see less than a 2 percent impact to their business through the first quarter of 2013, the firm said.
The storm hurt business levels at each of the 12 casinos, said Tony Rodio, president of the Casino Association of New Jersey as well as the Tropicana Casino and Resort…
Choosen excerpts by JMM from
Atlantic City’s casinos are struggling to deal with the aftermath of Superstorm Sandy by laying off workers and cutting back the hours of others. The city’s 12 casinos had to close due to the storm for five to seven days in late October and early November. Even after they reopened, business slowed considerably. The Atlantic … Continue reading »
Governor Chris Christie and the U. S. Department of Homeland Security’s Federal Emergency Management Agency (FEMA) announced today that New Jersey residents in all 21 counties will have until Feb. 4, 2013 to apply for coverage under the federal Disaster Unemployment Assistance program as a result of damages caused by Hurricane Sandy. The order establishes … Continue reading »
Governor Cuomo Announces Federal Disaster Unemployment Assistance Now Available to New Yorkers Affected by Hurricane Sandy Governor Andrew M. Cuomo today announced that federal disaster unemployment assistance is now available to all New Yorkers who lost their jobs as a result of Hurricane Sandy. Disaster unemployment benefits are available to provide financial support to anyone … Continue reading »
In order to qualify for disaster unemployment benefits your employment or self-employment must have been lost or interrupted as a direct result of a major disaster, and you must have been determined not to be eligible for regular state unemployment insurance writes Alison Doyle. Major disasters have been declared in some counties in New York and New … Continue reading »
Governor Lincoln D. Chafee has issued a statement announcing that Rhode Island workers unemployed due to the effects of the Hurricane Sandy may be able to waive their 1 week waiting period for benefits. For a Limited Time receive a FREE HR Report “Top 10 Best Practices in HR Management.” This comprehensive special report will … Continue reading »
The public relations propaganda campaign to convince the ignorant masses that Sandy’s impact on our economy will be minor and ultimately positive, as rebuilding boosts GDP, has begun. I’ve been hearing it on the corporate radio, seeing it on corporate TV and reading it in the corporate newspapers. There are stories in the press that … Continue reading »
A hotel bellman said he was worried about his mother uptown. A maid said she had been calling her family in Queens. A garage attendant said he hadn’t been able to contact his only relative – a sister in New Jersey – since the storm hit. Asked where he weathered the hurricane, his answer was … Continue reading »
House Democrats are beginning their push for an extension of expanded federal unemployment benefits before more than 2.1 million workers lose them at year’s end. Ways and Means panel ranking member Sandy Levin (D-Mich.) and Rep. Lloyd Doggett (D-Texas) released a committee report on Monday arguing for quick action to extend benefits before they expire … Continue reading