Back on the Boardwalk
2016 TMA Mid-Atlantic Regional Symposium | June 8-9
From left: Arthur Abramowitz, Sherman, Silverstein, Kohl, Rose & Podolsky, P. A.;
Eric Browndorf, Cooper Levenson; Bart Blatstein, Tower Investments Inc.; Warren Martin Jr.,
Porzio, Bromberg & Newman P.C.; and Hon. Donald Steckroth, Cole Schotz P.C.
The 2016 TMA Mid-Atlantic Regional
Symposium was back on the Atlantic
City Boardwalk June 8-9 for the second
year in a row. But will the popular
seaside destination be able to address its
financial woes and reclaim its status as a
premier destination on the Jersey shore?
A panel of experts addressed the
city’s historic past, troubled financial
present, and promising future in
“The Future of Atlantic City,” which all
agreed depends on the city getting its
financial house in order. The city owes
millions to hotels and casinos for years
of overpaid taxes, but if the city were
to make such large payments all at
once, its liquidity would be eliminated.
The panel debated the benefits of a
Chapter 9 proceeding versus a takeover
by the state of New Jersey under
recently passed state legislation.
Opinions varied about whether Atlantic
City has any chance of regaining its
lost luster. One panelist, Eric Browndorf
of Cooper Levenson, believes that it
can. “I know for a fact that no amount
of trials or tribulations will prevent
Atlantic City from once again being
the playground of the world,” he said.
But another panelist, Arthur
Abramowitz of Sherman, Silverstein,
Kohl, Rose & Podolsky P.A., views
the city as a sinking ship. “Why
anyone would want to be the
governor of New Jersey is like asking
someone to be the band leader
on the Titanic,” he remarked.
Nightclubs, casinos, restaurants, and
entertainment venues—many have
come and gone. But the fact is, when
the summer season hits, people head
for Atlantic City in droves. The city’s
population of 39,000 swells significantly
at times during the year, accommodating
30 million visits annually.
This year marked the 14th for the
Mid-Atlantic Regional Symposium,
and 269 attendees convened at
Caesars in Atlantic City. The two-day
event effectively combined relevant
professional development with ample
opportunities for attendees to do what
they came to do: network and make
valuable business connections.
Each day began with professional
development and ended with multiple
networking events. From golf and skeet
shooting to a TMA NOW spa luncheon
and various receptions, attendees were
never at a loss for what to do next.
Keynote speaker Stuart Rothenberg, a
highly respected political analyst and
commentator, gave a very apropos
analysis of the upcoming presidential
election. His main takeaway: “I
guess you’ll have to decide who
you hate less” in deciding between
presumptive major party nominees
Hillary Clinton and Donald Trump.
For the fifth year, nationally
recognized economists shared
their in-depth perspectives on the
economy for the year ahead. The
current outlook shows that the U.S.
economy is stalling. The Bankruptcy
Judges’ Roundtable explored expired
collective bargaining agreements,
363 sales, and equitable mootness.
The panel presented by the TMA
NextGen and TMA Network of
Women (NOW) groups discussed
how to bring in more business
as well as issues relating to the
development of leadership and
marketing techniques for restructuring
and insolvency professionals. J
BY MAURA SAGE, TMA GLOBAL MARKETING & COMMUNICATIONS ASSOCIATE
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