A darker future for high tech by ProQuest

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									                                                                                                                                                                                    The search is on
       THIS          WEEK


                                                                                                                                                                                                                    employers resume
                                                                                                                                                                                                                   job interviews as the
                                                                                                                                                                                                                    economy picks up.
                                                                                                                                                                                                                            Page 15

                                                                                                                                                 ®                                   Human Resources Spotlight
                                                                                                                                                           $2.00                          JULY 19, 2010                       www.njbiz.com
True to her roots


                                            A darker future for high tech Ross: ‘Far
McCarter & English tax partner says she
focused on law after spending her child-
hood arguing with mom. Page 5



                                                                                                                                                                                                           too many’
Searching for skilled labor
It’s an open field for pharmaceutical       Observers, startups fear N.J.’s image will suffer as science commission falls to budget ax
companies looking for free-agent talent
                                                By João-PIerre S. ruTH                               announcement that all of its pro-                    nies in the state,” said Lou Wagman,


                                                                                                                                                                                                           smaller
to join their firms. Page 5
                                            While the Commission on Science                          grams will be eliminated was a sur-                  president of the New Jersey entrepre-
                                            & technology was blowing out the                         prise that stunned bystanders.                       neurs Network, in Princeton, and co-
                                            candles on its 25th anniversary cake,                          the loss of the commission’s                   executive director of einstein’s Alley.


                                                                                                                                                                                                           N.J. banks
                                            the governor was turning off the lights.                 programs was quickly felt across the                      Judith Sheft, associate vice
                                                  And while the program’s demise                     state’s technology community. the                    president for technology develop-
                                            isn’t entirely unexpected — it had                       commission’s demise has “made for                    ment with the New Jersey institute
                                            narrowly survived brushes with                           a much more challenging situation                    of technology, in Newark, said the
                                            the budget ax in years past — the                        for early-stage technology compa-                                ➤➤   See TECH on page 6              Billionaire investor with
                                                                                                                                                                                                           Sun stake hints at more
                                                                                                                                                                                                           activity in his home state
Just filling space

                                            In N.J., mergers roar back after a quiet ’09
                                                                                                                                                                                                                 By MarTIN C. DakS
Some landlords are willing to take risks                                                                                                                                                                   WILbuR RoSS JR.’S $50 million
on sports-oriented tenants to relieve
                                                                                                                                                                                                           investment in Vineland-based Sun
vacancies. Page 5
                                                                                                                                                                                                           National bank could be the first of
N.J. unemployment dips down                 More deals completed as                                                                                                                                        several equity stakes in New Jersey
                                                                                       Christina Mazza




While the state’s unemployment nearly                                                                                                                                                                      banks by the billionaire investor.
matches the federal numbers, total
                                            economy shows stability                                                                                                                                             “there are far too many inde-
nonfarm employment in New Jersey                   By MarTIN C. DakS                                                                                                                                       pendent banks in New Jersey, includ-
still dropped 1,900 jobs. Page 9            MergerS ANd acquisitions of New                                                                                                                                ing 110 small
                                            Jersey companies are on the upswing                                                                                                                            ones,” said ross,
                                            this year, but one South Jersey entre-                                                                                                                         a Weehawken
                                            preneur said the price he’s getting for                                                                                                                        native and CeO
                                            his manufacturing company reflects                                                                                                                             of New York-
                                            lower valuations in the M&A market                                                                                                                             based       W.L.
                                            caused by the recession.                                                                                                                                       Ross & Co., in
                                                  When John Paz inked a deal to                                                                                                                            an e-mail mes-
                                            sell his Bridgeport-based Godwin                                                                                                                               sage to NJbIZ.        Wilbur Ross Jr.
                                            Pumps of America Inc. to ITT Corp.                                                                                                                             “they are burdened with inherent-
                                            for $585 million, he found market                                                                                                                              ly high overhead — which will be
Grass is greener in N.J.                    multiples had dropped since early                                                                                                                              increasing as regulatory reform is
Manufacturing company finds growth          2008, when he first started searching                                                                                                                          enacted — and [they will] have very
opportunities in Edison after spending      for a buyer.                                                                                                                                                   limited access to capital.”
decades in New York. Page 10
                                          
								
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