PSE&G applies for federal stimulus funds by ProQuest


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                                                                                                   Christie cites cost of corruption in laying out ethics reform package
NJBIZ File Photo

                                                                                                   In announcIng hIs proposals for ethics reform, gubernatorial candidate Chris Christie last week said corruption
                                                                                                   hits business owners hard.
                                                                                                        at a small, crowded church hall in Paramus, the Republican challenger to incumbent Jon S. Corzine cited the
                                                                                                   potential $1 billion cost of corruption reported by NJBIZ last week, adding that he wasn’t sure what the exact cost
                                                                                                   totals. “I do know this: There is a corruption tax in new Jersey,” christie said.
                                                                                                        christie said he would work to reduce corruption through a package of 10 proposals, ranging from eliminating
                                                                                                   the ability to hold multiple public offices and receive multiple public salaries, to requiring officials to relinquish their
                                                                                                   pensions if they are convicted of corruption.
                                                                                                        The candidate also said pay-to-play laws should apply equally to labor unions and other interest groups as they
                                                                                                   do to business contributors. christie emphasized that corruption in the state has crossed party lines, but criticized
                                                                                                   corzine’s leadership on the issue.
                                                                                                        “This is not a Democratic problem. This is not a Republican problem,” said christie, who built his reputation as a
                   Chris Christie at a press conference when we was U.S. attorney for the state.   corruption buster while serving as u.s. attorney for the state. “This is a new Jersey problem.” - Andrew Kitchenman

                                                                                                             Abe Abuchowski, Prolong’s founder,
Firm cautions businesses                                       for the creation of 650 affordable
                                                               homes in 16 municipalities, includ-           president and chief operating offi-
                                                                                                                                                                        support last week from their owner
                                                                                                                                                                        for his bankruptcy restructuring plan,
                                                                                                                                                                                                                                                        lion — the second-worst decline,
                                                                                                                                                                                                                                                        according to the New Jersey Casino
to watch pay-to-play laws                                      ing Bernards’ Basking Ridge section,          cer. He had invented the PEGylation                        according to Harvey Perkins, a gam-                                             Control Commission. In the same
                                                               the Hopewell section of Bordentown,           technology in the 1970s along with                         ing industry expert and senior vice                                             month, casino wins at Trump Plaza
Business owners should be alert to                             Jersey City, Newark and Red Bank.             Rutgers University professor Frank                         president of consulting firm Spec-                                              declined 18.6 percent over those of
increased pay-to-play restrictions at                                Of the 17 New Jersey proj-              Davis. The technology uses polyeth-                        trum Gaming LLC, in Linwood.                                                    June 2007, to $17.6 million, making
both the local and state level as a re-                        ects that received subsidies, Living          ylene glycol to improve the efficacy                             Trump Entertainment Re-                                                   that the fourth-worst decline among
sult of the recent arrests of 44 people                        Springs Senior Residence, in Delanco          and safety of drugs, besides reducing                      sorts Inc. picked Trump’s plan over                                             the city’s 11 casinos, but renovated
on corruption and money laundering                             — which will encompass 99 afford-             the dosage requirements. – Shankar P.                      that of a group of its bondholders to                                           Trump Taj Mahal’s casino wins de-
charges, according to a lobbying firm.                         able units — received the largest                                                                        meet a bankruptcy court deadline,                                               clined only 8.1 percent, to $32.9 mil-
      Porzio Governmental Affairs
LLC official Brian P. Sharkey said
                                                               one, at nearly $1.5 million, according
                                                               to Federal Home Loan Bank. Other
                                                                                                             Hampshire buys Raia                                        but “Trump faces a tough road,”                                                 lion, over those of a year ago, against
                                                                                                                                                                                                                                                        the industry’s average decline of 13.6
many municipal governments may                                 large projects include Lower Town-            Self Storage portfolio                                                                                                                     percent. – Shankar P.
                                                                                                                                                         NJBIZ File Photo

look to tighten their laws, since many                         ship’s 90-unit Cape May Senior Hous-
                                                                                                             The Hampshire Cos., a real estate
of those arrested were local officials.
      “Municipalities are more likely
                                                               ing, which was granted $570,000, and
                                                               Pleasantville’s The Village at St. Pe-        investment fund management firm
                                                                                                                                                                                                                                                        PSE&G applies for
to introduce their own ordinances,”                            ter’s, which will comprise 73 afford-         in Morristown, last week bought a                                                                                                          federal stimulus funds
and businesses looking to 
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