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The Jaffe Briefing - December 12, 2017

OUR TAKE ON THE NEWS IN NEW JERSEY
 
TRENTON - With a large bucket of popcorn, let's all sit back and watch the war of words between Gov. Chris Christie and his successor, Phil Murphy. Christie - who has been telling us for years the state has no money - now thinks things are pretty darn peachy, based on his strong, conservative stewardship. Christie says the state budget has "only" $229 million in "budget lapses" - only in New Jersey is this apparently good news. Murphy, about to inherit a big, unfathomable mess, thinks that number is $854 million, a startling difference of, oh say, a half-billion or so. Even if these guys agree to split the difference, taxpayers must ponder: So, um, who is paying for all these "lapses"?

Posted in Morning Briefing

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The Jaffe Briefing - December 11, 2017

OUR TAKE ON THE NEWS IN NEW JERSEY
 
TRENTON - Phil Murphy has a message for Gov. Chris Christie: Stop spending. Politico reports of a private letter sent to the outgoing governor, with Murphy expressing deep concerns about the well-publicized budget hole - around $1.8 billion or so - and asking Christie to freeze any discretionary spending. Rather than just saying, "Sure, Phil," Christie penned a four-page response, disputing everything and claiming the budget to be in "good shape." Christie writes, "As you might imagine, I was shocked to be informed that your personal letter to me (along with a wonderful handwritten note at the bottom) has come into the possession of the press before I was even able to craft a reply." Politiconotes the outrageously insulted Christie sent a similar letter, with the same request, to his predecessor, Jon Corzine.

Posted in Morning Briefing

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The Jaffe Briefing - December 8, 2017

OUR TAKE ON THE NEWS IN NEW JERSEY
 
LODI - It has been a good week - because, somehow, we were able to use the term "Bada Bing" twice. This time, we are memorializing the strip club made famous in the Sopranos. The Bada Bing (known officially as Satin Dolls) was Tony's home away from home, which the state has now whacked. The Route 17 club has until Dec. 17 to close its doors, following a six-year state investigation into its owners. Apparently, the owners have been "criminally disqualified" from owning the Bada Bing, and (allegedly) involved with some associates employed by the waste removal industry. Nothing personal; it's just business.

Posted in Morning Briefing

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The Jaffe Briefing - December 7, 2017

OUR TAKE ON THE NEWS IN NEW JERSEY
 
STATEWIDE - The governor's special commission on pensions and health benefits is ringing alarm bells in the largest belfry it can find, saying only the swiftest, bravest and broadest reform can save New Jersey from itself. The Star-Ledger consumes its front page this morning with this glaring fact: In five years, a quarter of the state's annual operating budget will be consumed by pensions and benefits for state workers. Just like the governors before him, it all rests on Phil Murphy to somehow solve this insolvable mess. Or, in a tried-and-true Jersey tradition, punt it to the next guy. Click here for exciting real estate opportunities in Florida.

Posted in Morning Briefing

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