The Morning Briefing - June 24, 2015
TRENTON – Democrats think the solution to the state pension mess is simple: Just get someone else to pay for it. They are hoping the state’s millionaires are consumed with sailing on their boats or redecorating the sixth bathroom to notice this proposal to hike their taxes. And they figure all the struggling business owners are so consumed with staying open that another bill on the pile doesn’t make a difference. So tax ‘em both, and declare victory for the pension system. Meanwhile, Gov. Chris Christie is somewhere in New Hampshire, telling an underling to pick up a new veto pen.
ON THE CAMPAIGN TRAIL – As all the Presidential hopefuls weigh in about banning the Confederate flag from the South Carolina capitol building, Gov. Chris Christie has also dashed off a press release. Yup, Christie agrees the flag should be removed from the grounds of the state capitol, agreeing with the Republican governor of South Carolina. Amazing how everyone has suddenly realized the Confederate flag still exists, and is officially outraged. Now let’s all run to the next issue du jour.
TRENTON – Commuters should brace for a nine percent fare hike since it doesn't look like lawmakers will be throwing money into the fiscal ’16 budget to offset proposed NJ Transit increases. Our governor – who Matt Katz, the Christie Tracker at WNYC.org – notes has been out of the state for 218 days of his 518-day second term, may be blamed if he ever bothered to show up the Statehouse. But the governor could argue there are no NJ Transit trains to New Hampshire, so, hey, it's no biggie.
ATLANTIC CITY – As lawmakers across northern New Jersey dream of casinos in their backyards, and the huge cash windfall they suspect would soon follow, a new poll surprisingly shows that New Jerseyans are lukewarm about the proposed expansion of gaming beyond Atlantic City. FDU reports 56 percent are opposed to the idea, while 37 percent say, “Deal me in!” The poll also focuses on the leading plans, with most supporters of casinos thinking the Meadowlands is the best location, followed by Jersey City, and then Newark.
ORANGE – A fire ravaged seven attached row houses in Orange in 2010, leaving a crater on Oakwood Avenue in the middle of a neighborhood. There was a time when rebuilding the complex wouldn’t have been a priority in the East Ward, home to crime and poverty. But things have drastically changed in recent years, with the Orange Housing Corp. leveraging money from all over the place to rebuild the seven units and creating a model for energy efficiency. At 11 a.m. today, officials cut the ribbon and explain how they did it.
ROSELLE - Newly minted Assemblyman Jamel C. Holley brought his own fans—literally—to the home crowd last night as he addressed more than 200 graduates of his alma mater, Abraham Clark High School. Holley provided the overflow crowd, moved indoors because of rain, some relief in the form of handheld fans emblazoned with "I'm a Fan of Assemblyman Jamel Holley. Let's Go!" While the ever-engaging Holley is never one to fan flames, he did fire up the capacity crowd urging the graduates to not be scared of opportunity. And if you can't be a Holley fan, at least take one home with you.
IN OTHER IMPORTANT NEWS
SNOWMASS, CO. – A local from a Colorado mountain town awoke from a nap on his deck to find a bit of a surprise: a black bear nibbling at his ankle. The Aspen Times reports the black bear seemed to just be interested in a taste, as the skin wasn’t even broken. Wildlife officials strongly suggested the 77-year-old man consider a trap in his open backyard, but he declined, worried something else would get caught. “Uh-huh,” say wildlife officials, but if a bear is not scared of people, that’s a big problem. And he’ll likely be back for that leg.
THE STREET — And now to the business desk, where anything can happen in the fickle world of bulls and bears. Shares of Facebook have surged to $87.88 on Wall Street, knocking Wal-Mart out of the Top 10 list of highest-valued companies for the first time since 1997. The social network's value rose to $238 billion, jumping ahead of Wal-Mart's $234 billion. Facebook investors certainly “like” this. But don't shed any tears for Wal-Mart, still the world's largest retailer with annual sales over more than $500 billion. And you can’t buy a 50-pound bag of puppy chow from Facebook … um ...not yet.
THIS DAY IN HISTORY
It was this day in 1992 that Crazy Eddie is caught in Israel, charged in a $74 million case of stock fraud. His plea? INSANE!
WORD OF THE DAY
Snickersnee – noun
Definition: A long knife
Example: “Wow, this sure is a thick pork loin. Now where did I put my snickersnee?