The Jaffe Briefing - April 28, 2022
STATEWIDE – State leaders promised that legal marijuana would rake in plenty of green. And, just on the first day the market launched, New Jersey saw $1.9 million in gross sales at a dozen stores statewide, with zero disruption for medical cannabis patients. So this seems to be a home run, with separate stockpiles for recreational users and medical users. A press release dashed off by the state’s Cannabis Regulatory Commission says there were 12,438 people who bought recreational weed on Day One, which was last Thursday. Retail sales are great. But the big news will be the ultimate amount of tax money flowing into state coffers, just like when legalized gambling hit the market in July 2018 and now generates millions each month.
PINE VALLEY – You create an exclusive golf club and exclude women. What could possibly go wrong? It is amazing it’s taken this long, but the state has finally gotten around to filing a civil rights complaint against the super-exclusive Pine Valley Golf Club, which has historically only allowed women onto the grounds to mix the Arnold Palmers and serve the club sandwiches. The golf course famously announced last spring that it was finally lifting outrageously-archaic restrictions on membership based on gender. But the 108-year-old club remains super secretive, with its member’s list private and membership offers strictly invite-only. NJ.com reports this stodgy golf course allowed in three women last year as members, representing less than 0.5% of the membership. And let’s assume this trio is allowed to hit the links between 10 p.m. and 1 a.m., once the dishes are washed and put away, of course.
BRIEFING BREATHER
According to the Bible, the chicken came before the egg.
STATEWIDE – Cough, cough! Feeling unhealthy? Bet you live in Cumberland County, which once again is at the rock bottom of the list of healthiest counties in New Jersey. The Robert Wood Johnson Foundation is out with its latest list, also showing that other South Jersey counties still remain among the unhealthiest, including Salem, Camden and Atlantic counties. Factors are all gauged by access to good schools, health care, parks and recreation that encourage healthy living. And the healthiest county? Morris County, trumping Hunterdon County, which often owns the top spot, as people run from here to there.
TRENTON – When times are good, the state pension fund seems to be printing money. But then you have this war in Ukraine, this high inflation and rising interest rates. And – Boom! The state’s pension fund lost nearly $3 billion in the first quarter, as paper profits vaporized in the westerly winds. But before investors head to the windows to take a leap, some important reality. Losses are only 3% on investments and there’s still around $95 billion sitting in there, as of March 31. Some important perspective: Because of the crazy market gains last year, the fund surpassed $100 billion. So, with our rose-colored glasses, see this $3 billion hit as a very expensive hiccup.
FROM THE MAILBAG
We reported yesterday that Genghis Khan was a bit of a ladies man in his day, with 16 million of his descendants living all over the world. That prompted a dedicated Jaffe Briefing reader, Barbara Fox, to write that Mr. Khan was a popular subject on clothing buttons in the 19th century. And the New Jersey State Button Society – yes, that group actually exists – will be showing off all their favorite Genghis buttons at its upcoming “spring show,” May 7, from 9-3 p.m. at the Union Fire Company, 3926 River Rd. in Titusville. And Barbara even provided us with a pic!
IN OTHER IMPORTANT NEWS
OKLAHOMA CITY – Uh, no nicknames please. That is the message from the state election board, after a Republican lawmaker wanted to refer to himself as “The Patriot” on the upcoming ballot. Rather, if state Rep. Sean Roberts wants to run for Oklahoma Labor Commissioner, he should do so under his real name. Oklahoma election rules allow a candidate to use a nickname if it’s a name the candidate is generally known by, like “Skip” or “Chuck.” But since no one in Oklahoma calls this guy “The Patriot,” and Roberts has appeared on seven successive ballots as “Kevin Sean Roberts,” he can’t just change his name. State officials say Roberts can likely go by “The Patriot” when he orders at Starbucks, although Oklahoma takes no responsibility when his name is most certainly misspelled.
THIS DAY IN HISTORY
It was this day in 2012 that One World Trade Center overtakes the Empire State Building as the tallest structure in NYC.
WORD OF THE DAY
Herald – [HAIR-uld] – verb
Definition: To greet with enthusiasm; hail
Example: Today’s chilly breeze appears to be heralding the arrival of March.
WIT OF THE DAY
“Sticks and stones can only break bones; but words can shatter the soul.”
-Adam Savage
BIDEN BLURB
“The president has a big stick.”
-Joe Biden
WEATHER IN A WORD
Blustery