{"id":33221,"date":"2016-10-20T03:03:52","date_gmt":"2016-10-20T03:03:52","guid":{"rendered":"http:\/\/acprimetime.wpengine.com\/?p=33221"},"modified":"2016-10-21T09:57:10","modified_gmt":"2016-10-21T09:57:10","slug":"will-state-let-atlantic-city-play-games-bader-water-company","status":"publish","type":"post","link":"https:\/\/acprimetime.com\/will-state-let-atlantic-city-play-games-bader-water-company\/","title":{"rendered":"Will State Let Atlantic City Play Games with Bader &#038; Water Company? VIDEO"},"content":{"rendered":"<p>VIDEO &gt; Atlantic City to sell Bader Field to the water company, a.k.a. the MUA? That&#8217;s crazy talk. It&#8217;s just moving money from one pocket&#8230;to another.<\/p>\n<p>Hard to imagine the State being OK with this Bader \/ water company shell game. But, we do appreciate the interesting but ultimately flawed &#8216;poison pill&#8217; strategy that the Mayor supports in the hope of avoiding increased State intervention.<\/p>\n<p>On Oct. 19, City Council of Atlantic City approved the first reading of a potential sale of Bader Field to the MUA; the Municipal Utilities Authority, aka the AC Water Company. The price tag is double what the current market value is: $110 million. But let&#8217;s not get ahead of ourselves. Council still must approve a second reading before it&#8217;s adopted, and the deal is ultimately subject to state approval.<\/p>\n<p><iframe src=\"https:\/\/www.youtube.com\/embed\/trWTWPiuvjg?rel=0\" width=\"730\" height=\"411\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<h2>What is a &#8216;Poison Pill&#8217; ?<\/h2>\n<p><em>A poison pill is a tactic utilized by companies to prevent or discourage <a href=\"http:\/\/www.investopedia.com\/terms\/h\/hostiletakeover.asp\">hostile takeovers<\/a>. A company targeted for a takeover uses a poison pill strategy to make shares of the companys stock look unattractive or less desirable to the acquiring firm.<\/em><\/p>\n<p>In the unlikely event the MUA does buy Bader? Well, MUA Chief Bruce Ward says he might build a so-called &#8216;waterscape&#8217; to beautify the entrance to Atlantic City. Yup, a waterscape.<\/p>\n<p>Ward says he also might run some events on the old airfield named after a former mayor. Quite impressive for Mr. Ward, a guy appointed to run a company that sells a commodity, has no competition, and enjoys a hostage customer base.<\/p>\n<p>Note to self: managing a monopoly does not require great entrepreneurial skill, something Atlantic City desperately needs more of.<\/p>\n<p>The MUA is, on paper&#8230; financially disconnected from the City of Atlantic City. In the real world, the MUA is simply a renamed AC water company. It makes 99% of it&#8217;s revenue from Atlantic City taxpayers.<\/p>\n<p><strong>VOTED YES to Sell Bader to MUA<\/strong><\/p>\n<ul>\n<li>Marty Small<\/li>\n<li>Kaleem Shabazz<\/li>\n<li>William Marsh<\/li>\n<li>Jesse Kurtz<\/li>\n<li>Aaron Randolph (MUA\/Water Company employee)<\/li>\n<\/ul>\n<p><strong>VOTED NO to Sell Bader to MUA<\/strong><\/p>\n<ul>\n<li>Frank Gilliam<\/li>\n<li>George Tibbitt<\/li>\n<li>Moisse Delgado<\/li>\n<li>Chuen \u201cJimmy\u201d Cheng<\/li>\n<\/ul>\n<p>Note: Aaron Randolph is a MUA\/Water Company employee.<\/p>\n<p>The MUA \/ AC Water Company would need to borrow in order to buy\u00a0Bader Field.<\/p>\n<p>Mayor Don Guardian likes this &#8220;poison pill&#8221; strategy. Guardian believes \u00a0it could scare off investors \/ buyers.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>VIDEO &gt; Atlantic City to sell Bader Field to the water company, a.k.a. the MUA? That&#8217;s crazy talk. It&#8217;s just moving money from one pocket&#8230;to another. Hard to imagine the State being OK with this Bader \/ water company shell game. But, we do appreciate the interesting but ultimately flawed &#8216;poison pill&#8217; strategy that the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":33230,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[10],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Will State Let Atlantic City Play Games with Bader &amp; Water Company? 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That&#8217;s crazy talk. It&#8217;s just moving money from one pocket&#8230;to another. Hard to imagine the State being OK with this Bader \/ water company shell game. But, we do appreciate the interesting but ultimately flawed &#8216;poison pill&#8217; strategy that the&hellip;","_links":{"self":[{"href":"https:\/\/acprimetime.com\/wp-json\/wp\/v2\/posts\/33221"}],"collection":[{"href":"https:\/\/acprimetime.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/acprimetime.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/acprimetime.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/acprimetime.com\/wp-json\/wp\/v2\/comments?post=33221"}],"version-history":[{"count":0,"href":"https:\/\/acprimetime.com\/wp-json\/wp\/v2\/posts\/33221\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/acprimetime.com\/wp-json\/wp\/v2\/media\/33230"}],"wp:attachment":[{"href":"https:\/\/acprimetime.com\/wp-json\/wp\/v2\/media?parent=33221"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/acprimetime.com\/wp-json\/wp\/v2\/categories?post=33221"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/acprimetime.com\/wp-json\/wp\/v2\/tags?post=33221"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}