Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul class="summary-list"><li>A single deli in a small <keyword id="9753" type="ENTERTAINMENT" weightage="60" keywordseo="New-Jersey">New Jersey</keyword> town is valued at over $100 million on the <keyword id="6368159" type="UNKNOWN" weightage="60" keywordseo="stock">stock</keyword> market.</li><li>"The <keyword id="3111540" type="PERSON" weightage="60" keywordseo="pastrami">pastrami</keyword> must be amazing," hedge fund manager <keyword id="243137" type="PERSON" weightage="60" keywordseo="David-Einhorn">David Einhorn</keyword> joked while highlighting the stock.</li><li>We had to find out for ourselves, so we visited the deli for lunch this week.</li></ul>Against all logic, a small New Jersey deli is worth just over $100 million on the stock market.<keyword id="11110925" type="UNKNOWN" weightage="60" keywordseo="your-hometown-deli">Your Hometown Deli</keyword>, which is owned by "<keyword id="11110926" type="UNKNOWN" weightage="60" keywordseo="hometown-international">Hometown International</keyword>," reported sales of about $36,000 in the last two years. At the same time, the company's stock exploded in value: from $1.25 in October 2019 to $13 currently. Its market capitalization puts the company at around $105 million. Something strange appears to be happening, as <a href="https://www.cnbc.com/2021/04/26/100-million-new-jersey-deli-company-owner-kills-consulting-deal-with-shareholder.html">recent CNBC reporting</a> has highlighted."The pastrami must be amazing," Greenlight Capital head David Einhorn joked <a href="https://markets.businessinsider.com/news/stocks/david-einhorn-elon-musk-chamath-palihapitiya-roaring-kitty-gamestop-stock-2021-4-1030311988">in a recent letter to investors</a> warning about the lack of stock market regulation. He wasn't far off: Your Hometown Deli specializes in the kinds of items you're more likely to find in a southern New Jersey or Philadelphia-area deli. Their cold cuts are Dietz &amp; Watson rather than Boar's Head, and they make a mean <keyword id="11172655" type="UNKNOWN" weightage="60" keywordseo="cheesesteak">cheesesteak</keyword> special.<div type="image" title="Your Hometown Deli (cheesesteak)" height="2994" width="3992" msid="82299228" hostid="261"></div>I found out as much after driving nearly two hours from New York City to the small New Jersey town of <keyword id="5174569" type="CITY" weightage="60" keywordseo="Paulsboro">Paulsboro</keyword>, where Your Hometown Deli is located.Despite being in New Jersey, Paulsboro is in the part of the state that's <a href="https://www.google.com/maps/place/Paulsboro,+NJ+08066/@39.7098792,-75.9688028,9.25z/data=!4m5!3m4!1s0x89c6d76b5028aab5:0x116eec5ba1701f6a!8m2!3d39.830391!4d-75.2404607">geographically below Philadelphia</a>.There's cultural seepage from Philadelphia, which is just 25 minutes away by car, and cultural seepage from New Jersey's notorious beach towns. As a result, Paulsboro looks like a mix of New Jersey shore town with Philadelphia's dense suburban housing.From the sleepy residential street its on, you'd never know that Your Hometown Deli is worth over $100 million.<div type="image" title="Your Hometown Deli (street in Paulsboro, New Jersey)" height="3024" width="4032" msid="82299233" hostid="261"></div>When I got to Your Hometown Deli just before 2 p.m. on Tuesday, they were about to close early - their normal hours of operation are 11 a.m. to 5 p.m., I was told by an employee, but for undisclosed reasons the deli was closing early when I visited.Thankfully, I was still able to get in an order, and I couldn't help but notice the telltale signs of a shop that specializes in cheesesteaks.<div type="image" title="Your Hometown Deli (inside)" height="3024" width="4032" msid="82299235" hostid="261"></div>Anyone from Philly and the surrounding suburbs may have already noticed, but the "hot sandwiches" section starts with some pretty clear indicators: The very first sandwich listed is "plain steak," which is Philadelphian for "cheesesteak without cheese." From there, you've got a smattering of other Philly-area staples, from the standard cheesesteak, to the "pizza steak" (cheesesteak with pizza sauce), and even several varieties of chicken cheesesteak. Having gone to college in Philly (go Owls!) and married a Pennsylvanian, I'm all too familiar with this menu. Any good deli or pizza shop in eastern Pennsylvania or South Jersey has some version of the list in Your Hometown Deli.As is to be expected of a deli with little foot traffic potential, I was the only customer during my whole time there. <div type="image" title="Your Hometown Deli (dining room)" height="2994" width="3992" msid="82299238" hostid="261"></div>Critically, $105 million market cap aside, the cheesesteak was genuinely delicious. At about $12 for the special with fries and a drink, it was a pretty reasonable price for lunch as well.For context: I am an unabashed cheesesteak superfan, and a longtime loyalist to Jim's Steaks in Philly. My lunch at Your Hometown Deli wasn't quite to the level of Jim's (frankly, few cheesesteaks are), but for a deli in a small New Jersey town that seemingly exists as a front, they make a damn fine cheesesteak.<div type="image" title="Your Hometown Deli (cheesesteak)" height="2423" width="3231" msid="82299241" hostid="261"></div>The characteristics of a standard cheesesteak are simple: Chopped, thinly-sliced beef, cheese, and a squishy-but-firm roll. Do you want onions and, if so, raw or fried? Hot or sweet peppers? American, whiz, or provolone cheese? Ketchup? People customize cheesesteaks in a lot of different ways.In Reading, Pennsylvania, where my wife is from, it's standard to get marinara sauce on your sandwich. I think that is crazy, but they probably think I'm crazy for not doing it. At Your Hometown Deli, I got a cheesesteak with American cheese, fried onions, and banana peppers - my go-to cheesesteak order. It was greasy, and cheesy, and exploding with savory umami occasionally cut by the acidic brightness of pickled yellow peppers.It did that amazing thing that happens with good cheesesteaks where the fat and cheese meld and attempt to escape out the bottom, thus turning the last bite into the most flavorful bite.<div type="image" title="Your Hometown Deli (cheesesteak)" height="2994" width="3992" msid="82299245" hostid="261"></div>While it makes a great lunch experience, Your Hometown Deli certainly didn't feel like a $100 million business.The building itself is mostly cinder blocks, and looks more suited for a VFW outpost than a food establishment. There are no golden fountains out front, and the only indication that it's open for business is a flag waiving in the wind.<div type="image" title="Your Hometown Deli" height="2994" width="3992" msid="82299249" hostid="261"></div>In <a href="https://sec.report/Document/0001213900-21-018020/#a_003">its most recent 10-K filing</a>, Your Hometown Deli is described as, "a new 'Delicatessen' concept" which sells, "'home-style' sandwiches, food items, and groceries in a casual and friendly atmosphere." That "concept" is said to be the basis for the company's $105 million market value, but what I experienced was a stereotypical deli with a better-than-average cheesesteak. Got a tip? Contact Insider senior correspondent Ben Gilbert via email (<a href="mailto:bgilbert@insider.com">bgilbert@insider.com</a>), or Twitter DM (<a href="https://twitter.com/RealBenGilbert">@realbengilbert</a>). We can keep sources anonymous. Use a non-work device to reach out. PR pitches by email only, please.

A small New Jersey deli's stock is valued at over $100 million. The store was empty and closing early when we visited - but they do make a mean cheesesteak.

<ul class="summary-list"><li>Thai police arrested a man over an alleged fraud involving a firm that owned a New Jersey deli.</li><li>Peter Coker Jr. was detained on January 11 at a hotel in Phuket, the Bangkok Post reported.</li></ul>Police in Thailand have arrested an American man linked to an alleged stock market conspiracy that left a deli in New Jersey worth about $100 million.Jirabhop Bhuridej, commissioner of Thailand's Central Investigation Bureau (CIB), <a href="https://www.bangkokpost.com/thailand/general/2482467/stock-manipulator-on-us-wanted-list-arrested-in-phuket">told the Bangkok Post</a> that Peter Coker Jr was arrested on January 11 in a hotel room near Surin Beach on the island of Phuket.Coker Jr was on the run from authorities after he, his father Peter Coker Sr, and James Patten were allegedly involved in boosting the value of shares in Hometown International, which owned the deli, to give the company a valuation of as much as $100 million.Hometown's only asset was the Paulsboro sandwich shop, which had sales of just $35,000 over a two-year period. The Department of Justice <a href="https://www.justice.gov/usao-nj/pr/three-men-charged-international-market-manipulation-scheme">said</a> the owners had "conspired to enrich themselves through a scheme to manipulate securities prices" in its arrest warrant for the men. Coker Jr was the subject of <a href="https://www.interpol.int/en/How-we-work/Notices#:~:text=To%20seek%20the%20location%20and,or%20to%20serve%20a%20sentence.&amp;text=INTERPOL%20Notices%20are%20international%20requests,share%20critical%20crime%2Drelated%20information.">arrest warrants issued by Interpol</a>, per the Post, <a href="https://markets.businessinsider.com/news/stocks/hometown-international-100-million-publicly-traded-new-jersey-deli-fraud-2022-9">after being accused of stock market manipulation and fraud in September</a>.Bhuridej told the newspaper that the suspects had listed the business on the OTC Marketplace at $1.25 a share before they hired stock traders to manipulate its share price. Hometown stock soared by more than 900%, and was <a href="https://markets.businessinsider.com/news/stocks/hometown-international-100-million-new-jersey-deli-delisted-david-einhorn-2021-4-1030333722?utm_medium=ingest&amp;utm_source=markets">delisted in 2021 for failing to comply with "over the counter" market rules</a>. E-Waste, another company set up by the group, spiked by almost 20,000%.The Bangkok Post reported that the CIB had been working with the FBI to locate Coker Jr. Coker Sr. and Patten were arrested in North Carolina in September last year and have pleaded not guilty.Matt Reilly, a spokesman for the US Attorney's Office in New Jersey, confirmed in an <a href="https://www.cnbc.com/2023/01/18/fugitive-new-jersey-deli-defendant-peter-coker-jr-arrested-in-thailand.html">email to CNBC on Wednesday</a> that Coker Jr. had been arrested in Thailand.The Post reported that Coker Jr. admitted he was the man wanted on the Interpol register.The US Attorney's Office in New Jersey did not immediately respond to a request for comment from Insider, made outside normal working hours.

Police in Thailand arrested an American man in connection with an alleged fraud that left a New Jersey deli worth $100 million

<ul><li>Shares of Norfolk Southern have erased $5 billion in market value since the Ohio train derailment.</li><li>On February 3, a Norfolk Southern train derailment released toxic chemicals in the community of East Palestine, Ohio.</li><li>JPMorgan estimated Norfolk Southern will face costs related to the train derailment of as much as $50 million.</li></ul>A <a href="https://markets.businessinsider.com/stocks/nsc-stock">Norfolk Southern</a> <a href="https://www.businessinsider.com/mini-chernobyl-lite-ohio-train-derailment-toxic-cloud-norfolk-southern-2023-2">train derailment that released toxic chemicals</a> into the community of East Palestine, Ohio, has led to a steep sell-off in the railroad company's stock price.Norfolk Southern has fallen as much as 10% and has erased $5 billion in market value since the <a href="https://www.insider.com/animals-sick-dying-after-ohio-train-derailment-caused-chemical-leak-2023-2">February 3 train derailment,</a> which led to hundreds of thousands of pounds of vinyl chloride being spilled, some of which was burned off into the atmosphere.The train derailment has led to <a href="https://africa.businessinsider.com/news/rail-company-bailed-on-meeting-about-the-toxic-ohio-train-derailment-saying-it-was/zqtf8by" target="_blank" rel="noopener">severe concerns from community residents</a> about the potential health impacts, and even two weeks after the spill there are reports of a chemical smell lingering around the town.Norfolk Southern said it has completed nearly 500 in-home air tests, removed 3,150 cubic yards of contaminated soil, and removed 942,000 gallons of contaminated liquid from the derailment site. It is also implementing an outdoor air monitoring program and working with the EPA and village of East Palestine to sample drinking water for potential contamination.Despite the efforts, investors have grown concerned about the potential costs Norfolk Southern will face in lawsuits and clean-up actions.But according to <a href="https://markets.businessinsider.com/stocks/jpm-stock">JPMorgan</a>, based on previous train derailments that spilled toxic chemicals, the costs to Norfolk Southern will be a lot less than the billions of dollars the stock market is currently implying. "We believe the potential cost for the East Palestine derailment could be between $30 million to $50 million based on total damages in the 2022 spill of petroleum distillates in Hamar, PA and the 2012 release of vinyl chloride in Paulsboro, NJ," JPMorgan said in a Friday note. The cost estimate from JPMorgan excludes potential settlements.In both of those instances, hazardous materials entered the waterways. So far, water tests have yet to show vinyl chloride entering the drinking water for residents in the East Palestine, Ohio area. The incident has highlighted to investors just how many train derailments there are in the US each year. On Thursday, another train operated by Norfolk Southern derailed in Michigan. In 2022, there were more than 1,000 instances of train cars coming off the tracks. According to data from JPMorgan, Norfolk Southern has experienced 55 hazardous material train derailments over the past 10 years, with total damages totaling $64 million, or an average cost of about $1.2 million per incident.While the ultimate cost and liabilities Norfolk Southern faces won't be known for some time, JPMorgan highlighted that the company has extensive insurance coverage for third-party liabilities and property damage, with coverage of above $75 million and below $800 million.If the costs related to the cleanup of the train derailment get that high, the insurance coverage could help soften the blow to the company's bottom line. JPMorgan rates Norfolk Southern stock at "Neutral" with a price target of $232 per share.

Norfolk Southern has erased $5 billion in market value since the Ohio train derailment spilled toxic chemicals into East Palestine

<ul class="summary-list"><li>Hometown International has fired its CEO.</li><li>The CEO is also the principal and wrestling coach at the local high school. </li><li>The firing comes after questions about his role at the company. </li></ul>The CEO of a company that runs a single business, <a href="https://markets.businessinsider.com/news/stocks/new-jersey-deli-hometown-international-sales-market-cap-david-einhorn-2021-4-1030312707">a New Jersey deli with a market cap of over $100 million</a>, has been fired, per a financial filing, <a href="https://www.cnbc.com/2021/05/15/100-million-new-jersey-deli-company-fires-ceo-paul-morina.html">CNBC reports</a>. The <keyword id="6355005" type="UNKNOWN" weightage="60" keywordseo="news">news</keyword> that Hometown International fired its CEO Paul Morina comes after questions arose about his role at the company, though no official reason was given as to why he was fired. Morina is the principal and head wrestling coach at the local high school. Last month, CNBC reported on financial records which listed Morina as president, CEO, and CFO of Hometown International, which owns one small <keyword id="412594" type="COMPANY" weightage="60" keywordseo="Deli">deli</keyword> in Paulsboro, <keyword id="9753" type="ENTERTAINMENT" weightage="60" keywordseo="New-Jersey">New Jersey</keyword>.That deli booked only $36,000 in sales these past two years, and recorded $624,438 in losses last year, in addition to $153,930 in losses the year prior. Yet, Hometown International has a market capitalization of over $100 million. Business Insider <a href="https://markets.businessinsider.com/news/stocks/hometown-international-100-million-new-jersey-deli-delisted-david-einhorn-2021-4-1030333722">previously</a> called the company a shell company that seeks to execute a merger one day with a larger company. Filings show Morina owns 1.5 million common shares in the company, in addition to warrants for another $30 million. He also controls 19% of the company's outstanding 7.79 million common shares, with at least 5.5 million common shares controlled by investors in Hong Kong and Macao. CNBC reports Morina's common stock holdings are worth at least $18 million on paper. Shareholders for the company also voted to remove the company's vice president, Christine Lindenmuth, who works with Morina at the local high school, CNBC reported. Filings do not disclose why she was fired either, though she and Morina remain principals at the deli itself.The deli received ample attention last month after hedge fund manager David Einhorn <a href="https://www.cnbc.com/2021/04/15/hometown-international-nj-deli-owner-worth-millions-in-stock.html">pointed out</a> Hometown International's high market value, despite owning one asset to clients in a letter last month to warn investors of risks. "The pastrami must be amazing," he wrote. "Small investors who get sucked into these situations are likely to be harmed eventually."

CEO of $100 million New Jersey deli has reportedly been fired

<ul><li>A New Jersey <keyword id="412594" type="COMPANY" weightage="60" keywordseo="Deli">deli</keyword> owner's stock has tripled in the past year, valuing it at $105 million.</li><li><keyword id="11110926" type="UNKNOWN" weightage="60" keywordseo="hometown-international">Hometown International</keyword>'s total sales were $36,000 over the past two years.</li><li>"The pastrami must be amazing," investor <keyword id="243137" type="PERSON" weightage="60" keywordseo="David-Einhorn">David Einhorn</keyword> joked this week.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">See more stories on Insider's business page</a>.</li></ul>A New Jersey deli owner on the brink of bankruptcy has inexplicably tripled in value over the past 12 months. Its market capitalization now stands at $105 million, or about 7,500 times its sales last year.Hometown International runs a single store, <keyword id="11110925" type="UNKNOWN" weightage="60" keywordseo="your-hometown-deli">Your Hometown Deli</keyword>, in Paulsboro - a borough that's home to around 6,000 people. Its menu ranges from meatball sandwiches and cold cuts, to hash browns and onion rings.The company has generated only $36,000 in sales over the past two years, has no full-time employees, and doesn't pay its president or director. Yet its stock price has surged from below $2 to $13.50 in under 18 months.Hedge fund manager David Einhorn <a href="http://markets.businessinsider.com/news/stocks/david-einhorn-calls-out-elon-musk-and-chamath-palihapitiya-defends-gamestop-champion-roaring-kitty-and-blasts-market-regulators-in-a-new-letter-here-are-the-11-best-quotes-1030311988">highlighted Hometown</a> in a letter to investors this week. The <keyword id="243142" type="COMPANY" weightage="60" keywordseo="Greenlight-Capital">Greenlight Capital</keyword> boss noted the company's tiny scale, paltry revenues, heady market value, and the fact that its largest shareholder is also its CEO, CFO, treasurer, one of its directors, and the local high school's wrestling coach."The pastrami must be amazing," Einhorn quipped. He pointed to Hometown as the kind of company that amateur stock-pickers could lose their money in, and called for regulators to do more to protect investors.Hometown's bosses weren't optimistic about the deli's future either in their latest <a href="https://www.sec.gov/Archives/edgar/data/0001632081/000121390021018020/f10k2020_hometowninter.htm">annual report</a>."Besides the equipment, fixtures, and inventories we purchased for our deli store, we have limited assets," they said. "We had minimal working capital as of the date of this annual report and used cash in operating activities for the year then ended.""These factors raise substantial doubt about our ability to continue as a going concern," they added. "If we are not successful in expanding our Your Hometown Deli concept, or finding a business to merge with, we may need to cease our operations, which would result in our shareholders losing their entire investment in us."Read more: <a href="https://www.businessinsider.com/stocks-to-buy-for-earnings-season-investing-in-declining-dollar-2021-4" target="_blank" rel="noopener">BTIG identifies 14 beaten-down stocks poised to dominate the market this earnings season and extend their track record of crushing expectations</a>Hometown's recent stock gain is particularly striking, as the COVID-19 pandemic shuttered the deli for six months last year, its annual report shows. The company's costs also ballooned to $640,000, largely reflecting consulting and professional fees tied to a share sale. As a result, its losses nearly quintupled year-on-year to north of $620,000.Notably, Hometown boasted $1.4 million of cash at the end of 2020, thanks to a share sale last April that generated $2.5 million of proceeds. That's a huge figure given the company estimates it has about 60 shareholders in total.

The owner of a single New Jersey deli boasts a $105 million market cap - despite making only $14,000 in sales last year

We recently <a href="http://www.businessinsider.com/kurdish-oil-tanker-sits-in-gulf-2014-7">told you</a> about the United Kalavryta, an oil tanker carrying 1 million barrels of Kurdish crude that was forced to essentially do donuts in the Gulf of Mexico after Iraq sued to halt the shipment. 
Now another ship bound for the U.S. carrying 300,000 barrels of crude from Kurdistan has been idled a few dozen miles from Ocean City Maryland after its buyer halted the shipment. 
The Malta-flagged Minerva Joy was making its way up the Atlantic Coast when Axeon Specialty Products, an asphalt refining operation located in Paulsboro, New Jersey said it did not want to get mixed up in the dispute between Baghdad and the autonomous Kurdish region in Iraq's north, <a href="http://www.argusmedia.com/News/Article?id=921133">Argus research reports</a>. 
Iraq's oil ministry says the Kurds are illegally shipping product. A district judge in Houston <a href="http://www.foxnews.com/politics/2014/07/30/us-bars-kurdish-oil-from-entering-texas-port/">ruled last month</a> that the U.S. lacked the authority to unload the shipment since it was outside her court's jurisdiction, and that the dispute must be decided in Iraq. Baghdad does not appear to have filed against Minerva, Argus says. 
The Kalavryta remains anchored in international waters near Galveston.
Here's the Minerva's exact location, via mindblowing global shipping data site MarineTraffic...
<div class="KonaFilter image-container"><div class="image"></div></div>
And here are its recent movements:
<div class="KonaFilter image-container"><div class="image"></div></div>

You Searched For "Paulsboro" and got 7 results

A small New Jersey deli's stock is valued at over $100 million. The store was empty and closing early when we visited - but they do make a mean cheesesteak.

Ben Gilbert

Police in Thailand arrested an American man in connection with an alleged fraud that left a New Jersey deli worth $100 million

Ryan Hogg

Norfolk Southern has erased $5 billion in market value since the Ohio train derailment spilled toxic chemicals into East Palestine

Matthew Fox

CEO of $100 million New Jersey deli has reportedly been fired

Dominic-Madori Davis

The owner of a single New Jersey deli boasts a $105 million market cap - despite making only $14,000 in sales last year

Theron Mohamed

Another Ship Carrying Millions Of Dollars Worth Of Crude Oil Is Doing Donuts In The Atlantic

Rob Wile

These 1,429 US Towns Could Be Destroyed By Rising Sea Levels

Jennifer Welsh

Popular Keywords

Buying Guides