Trouble in River City

Beacon, New York shuts down vintage pinball arcade – “why, we have a law against that sort of thing!” So now the city has yet another shuttered business.

12 Comments

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12 responses to “Trouble in River City

  1. Anonymous

    These town fathers in Beacon, NY are imbeciles. They should be tarred and feathered, run out of town on a rail or at the very least voted out of office. Their constituents ought to be be seething and, if they’re not, why not? Get up off your butts, Beacon, and throw the bums out!

  2. Retired IB'er

    Hey CF,

    I remember you advising someone in an earlier post to skip title insurance (do the search, just don’t purchase insurance).

    Just read this article at Naked Capitalism. What are your thoughts? Excerpt:

    “As the number of real estate foreclosures skyrockets, the odds are higher that a home you live in today, or at some point in the future may have had a foreclosure in its history. Even if the foreclosure has long since passed, a loophole in the way mortgages are recorded can create a serious title defect for future owners. Title analysis performed this month by AFX Title has detected this error to be common in random samples of properties it reviewed. “This could affect the property ownership of millions of homes nationwide” said David Pelligrinelli, of AFX Title.”

    http://www.nakedcapitalism.com/2010/09/latest-real-estate-time-bomb-title-of-foreclosed-properties-clouded-wells-fargo-dumping-risk-on-hapless-buyers.html

  3. Pete

    Off topic, but I saw that Fudrucker’s hamburgers have been voted third best in US by consumer Reports.

  4. CF-
    Please start a more direct post and discussion of title insurance. And NY vs. CT at that.

    My slant is that the insurance companies routinely re-cycle old surveys, receive a “mortgage survey” style update from a living surveyor, then issue coverage with a party to hold culpable (the surveyor.)

    Many surveyors play into this scenario for the few hundred bucks they make in profit from the scheme.

    The actual homeowners received very little value in return.

    I stand ready to debate. Bring it on. I have many examples and horror stories to share.

  5. In NJ, title insurance rates are fixed by the legislature.

    Local title insurance agencies can be very profitable, as they receive 80% of the premium, with 20% going to the actual title insurer. The costs for title searches, whether they include new data or simply copy the old, as IS said, come out of the 80% share for the local agency.

    Also, there are two types of title policies that may be sold, one that insures the title for mortgages (protecting the bank) and another the insures the property for the new owner.

  6. Thanks, Greg and Pete.

    Pete- The nearest Fuddrucker’s to I-95 seems to be in Florida. What do you know? Where do you go?

    Greg- All deeds are subject to the findings of an accurate survey. Therefore, all deeds, title policies and maps are open to revision by the actual facts on the ground, something title insurance has no capacity to obtain or evaluate, except by the “drive-by appraisers.”

    • There was one in Westport on the Post Road in, maybe, 1986 or so, and in fact its hamburgers were fabulous. If the nearest outlet today is Florida, then I guess they’ve retrenched. Still, if you get down that way, IS, I’d recommend a visit.

  7. Pete

    IS The first time I heard the name Fuddrucker was from CF referring to his pal Frank. I heard of it as a hamburger place from a TV story yesterday. Their web site does show a site in Mashantucket, CT

  8. The Florida reference was in literal miles from all of I-95. (Excuse please my surveyor mentality on finding hamburgers by “minutes from any I-95 exit.”) So that was not intended to be “nearest to Greenwich.”

    I just finished two years of vegetarianism, except for occasional treats of CF’s deer jerky and some hamburger dreams.

    About Sept. 28th I’ll post a full restaurant review of the Orlando, Florida venue.

  9. Cybercommuter

    The best burgers in Florida are Five Guys! They are also reasonably priced. We have one in Gainesville FL right off the interstate.
    There is one in Ocala and Orlando and probably more locations. This is a restaurant chain that is expanding. Try Five Guys!