The Jaffe Briefing - April 7, 2022

PAULSBORO – For a moment, it was the most popular deli in America, valued last year at more than $100 million.  And what is next for the Hometown Deli? The Philly inquirer reports the local business is now getting into hemp-based plastics. So, for newcomers to this bizarre story, the deli is part of Hometown International (stock symbol: HWIN), led by a group of Hong Kong investors, which claimed the deli in working-class Paulsboro was its main business. It was all part of a complex plan for investors to sidestep the standard IPO process and fees for public trading. And that made this little deli worth a fleeting fortune.  And, now, this deli’s overseas  leadership is  very excited about 100% biodegradable plastics using hemp-polymers, fully  compostable within days to months. All good. Perhaps a new type of wrap for the deli’s tuna special. Hold the pickle.

DEAL – Building a simple staircase to the beach is not a big story. But in Deal, it may be the news of the century. Local residents, with their glorious, oversized oceanfront mansions, have famously done everything possible to keep the public off “their” beach. But, notwithstanding  their billions of dollars, these residents just can’t own the ocean, despite the many phone calls for clarification to their financial and legal advisors. There’s been this three-year legal battle between a guy who wants to buy a municipal-owned strip of oceanfront land to add to his estate and the American Littoral Society blocking the $1 million deal. NJ.com says there is now a settlement: The resident needs to build a staircase, allowing public access to the beach, at Neptune Avenue. Great news for day-trippers, who would still need to find a parking spot or public bathroom. Deal residents note there are plenty of those types of amenities a little north, in Long Branch. And they are happy to call you an Uber.

BRIEFING BREATHER

You don't actually wash your hands. You just watch them wash each other.

CLARK – For those following the train wreck involving longtime Mayor Sal Bonaccorso, he has finally fessed up to all the outrageous racial slurs he slung around, all caught on tape. NJ.com broke the story, with the mayor initially denying it all, and has spent the week pressuring the mayor to step down. Instead, Bonaccorso put out a canned statement admitting he uttered the N-word and other stuff four years ago, while offering drivel about how he attended a Black Lives Matter demonstration and now has a fresh way of thinking about things. There are always a lot of eye rolls with these heart-felt apologies, after someone has been nabbed in an impossible situation. All know that if NJ.com didn’t report this story, which included a $400,000 settlement from the township, this all would have been swept under the rug. Some politicians, like Gov. Phil Murphy, are grabbing easy headlines, calling for Bonaccorso to quit. That’s a job, ultimately, for Clark voters to decide. Many will be watching.

STATEWIDE – He can’t run for a third consecutive term as governor, so poll numbers aren’t exactly critical for Gov. Phil Murphy. But as the country swings Republican for the mid-term elections on Nov. 8, one would assume Murphy’s poll numbers would be tanking.  But, no.  Monmouth University has his approval rating at 57%, a five percent uptick from October, shortly before his tight re-election victory. Compare those numbers with what President Joe Biden is seeing, struggling with an approval rating of between 40-45%. Perhaps New Jersey voters are noticing the state is flush with the cash, sitting on billions of dollars in surplus. If Murphy’s numbers remain solid, he might have some coattails for congressional Democrats worried about recharged Republicans, praying that national opinion may finally boost the GOP down ticket in New Jersey.

IN OTHER IMPORTANT NEWS

EAST MILLINOCKET, ME – Making a wrong turn in a garbage dump was memorable for one motorist, who ended up suspending his car over a trash compactor on April 1. Cops and firefighters in East Millinocket are not used to such big action, so all available units, including officers who were off-duty, as well as some recent retirees, raced to the scene.  The driver was gloriously stuck because his door was directly above the trash compactor’s opening.  Firefighters were able to rescue the guy, who was not injured, and then a local tow truck got some emergency action too, dragging the small SUV off the compactor.

THIS DAY IN HISTORY

It was this day in 1996 that someone, somewhere, was excited that Pakistan defeated Sri Lanka to win the Singer Cup in cricket.

WORD OF THE DAY

Grift – [GRIFT] – verb

Definition: To obtain money illicitly

Example: My guidance counselor assumed I would grift for a career.

WIT OF THE DAY

“One of the things the government can't do is run anything. The only things our government runs are the post office and the railroads, and both of them are bankrupt.”

-Lee Iacocca

BIDEN BLURB

“I just signed the Postal Service Reform Act of 2022 into law – setting the Postal Service on more stable financial footing and creating a more modern, accountable service for tomorrow.”

-Joe Biden

WEATHER IN A WORD

Dreary