Posted on

Retail Sales Down for the Third Month in Row

Ridgewood’s CBD

Retail Sales Down for the Third Month in Row
July 16.2012
the staff of the Ridgewood blog

Bloomberg News reported that U.S. retail sales “unexpectedly” dropped and the International Monetary Fund cut its global economic growth forecast .The drop in Retails sales was the third drop in a row and the first time this has happened since the recession started in 2008 .

According to Bloomberg U.S. retail sales dropped 0.5 percent in June, following a 0.2 percent decrease in May, Commerce Department figures showed today. The decline was worse than the most-pessimistic forecast in a Bloomberg News survey in which the median projection called for 0.2 percent rise.

James Dunigan, who helps oversee $112 billion as chief investment officer in Philadelphia for PNC Wealth Management, told the new service in an interview.“The retail sales gives you another indicator that uncertainty has showed up in the consumer side,” “We’re in a bit of the summer doldrums.” However retail does traditional tail off in the summer months with consumers putting off large buying decisions until the fall.

Howard Davidowitz, chairman of Davidowitz & Associates a longtime retail consultant, told Yahoo Finance he was not shocked by Monday’s retail report.

“The American consumer is going to continue to get poorer,” he says in the accompanying video. “They’re going to shop at the places that are cheapest. This is not rocket science.”

The IMF cut its 2013 global growth forecast as Europe’s debt crisis prolongs Spain’s recession and slows expansions in emerging markets. The IMF predicts growth worldwide will be 3.9 percent next year, less than the 4.1 percent estimate in April, the fund predicted in an update of its World Economic Outlook.

Manufacturing was the one bright spot with the New York region expanding in July at a faster pace than anticipated, signaling factories will keep contributing to growth. The Federal Reserve Bank of New York’s general economic index rose to 7.4 from 2.3 in June. The median forecast of 51 economists surveyed by Bloomberg News called for an increase to 4.0. Readings greater than zero signal expansion in the so-called Empire State Index that covers New York, northern New Jersey and southern Connecticut.

sources :http://www.bloomberg.com/news/2012-07-16/u-s-stock-futures-slip-after-weekly-rally-goldman-falls.html
sources : http://finance.yahoo.com/blogs/daily-ticker/retail-sales-drop-0-5-june-u-consumer-165255503.html

Posted on

Congressman Scott Garrett Celebrates his Birthday in Ridgewood

Photo by Dawn Cody

Congressman Scott Garrett Celebrates his Birthday
July 16.2012
the staff of the Ridgewood blog

Ridgewood NJ , Congressman Scott Garrett took time out to celebrate his birthday this past Sunday . Congressman Scott Garrett, (5th District ,New Jersey) birthday celebration was held in a Ridgewood home this past Sunday . The two hour celebration was heavily attended .

Attendees included Linda Schafer the Mayor of Ringwood , John Mitchell Free Holder Chairman , Bergen County Executive Kathleen A. Donovan and many more .

Posted on

“Municide” : Unless the Village starts looking at new forms of revenue this would not come as a surprise

“Municide” : Unless the Village starts looking at new forms of revenue this would not come as a surprise

As a former resident I would never wish “Municide” on my old hometown. Though unless the Village starts looking at new forms of revenue this would not come as a surprise.

In particular, solar panels paid for by utilities, cell phone towers which offer recurring revenue, and tasteful advertising to subsidize the annual losses at Graydon. “Tasteful” could use as a touchstone the same types of advertising found on little league baseball uniforms.

I’m not in favor of sacrificing the town’s character or visual appeal. I am in favor of avoiding casting the local unions and teachers as the cause of Ridgewood’s inevitable fiscal cliff. Teachers, Police, and Fire salaries and pensions are not the problem.

The Village has to realize that a massive number of real estate tax appeals and people moving to lower tax municipalities are the problems and that these are being ignored.

Ridgewood needs some creative types to work on raising revenues and not taxes.

Posted on

Remember to Separate Recycling from Garbage

Example of Warning:

Remember to Separate Recycling from Garbage

NOTICE: Separate Recycling from Garbage

NJ State law requires that recycling and sanitation be separated in the disposal process. This will reduce the amount of garbage for disposal which currently costs the Village over half a million dollars annually.

We ask your cooperation in following the law. If recycling is included in your garbage, then THE GARBAGE WILL NOT BE PICKED UP. A yellow sticker will be placed on the bags/container, with collection instructions.

If you have any questions, please call 201/670-5585.

 

 

 

Posted on

Ridgewood Library Receives grant for Binding of Books, 2012

Military History of Ulysses S. Grant
by Adam Badeau

Adam Badeau who was an aide to Grant during the Civil War wrote this account of Grant’s campaigns based on his eye-witness experience and on original documents. We have personal items from Adam Badeau in our collections.

Ridgewood Library Receives grant for Binding of Books, 2012

Supported by grant money from the Bergen County Division of Cultural and Historic Affairs, the Ridgewood Public Library has preserved and re-bound books from its collection that had been unavailable due to their fragile condition. Turul Bindery in Wharton, New Jersey did the preservation work. The following books are now availalbe on the shelves in the Bolger Heritage Center. Please call for more information: 201-670-5600, x 135

http://www.ridgewoodlibrary.org/localhistory/Treasures_1.htm

 

Posted on

Taxes, Taxes and more Taxes Tax break nears end for online shoppers

Taxes, Taxes and more Taxes Tax break nears end for online shoppers

Republican governors, eager for new revenue to ease budget strains, are dropping their longtime opposition to imposing sales taxes on online purchases, a significant political shift that could soon bring an end to tax-free sales on the Internet.

Conservative governors, joining their Democratic counterparts, have been making deals with online retail giant Amazon.com AMZN +1.41% to collect state sales taxes. The movement picked up an important ally when New Jersey Gov. Chris Christie—widely mentioned as a potential vice-presidential candidate—recently reached an agreement under which Amazon would collect sales taxes on his state’s online purchases in exchange for locating distribution facilities there.

Mr. Christie called taxation of online sales “an important issue to all the nation’s governors” and endorsed federal legislation giving all states taxing authority.   (Langley, The Wall Street Journal)

http://online.wsj.com/article/SB10001424052702303644004577525070594717752.html

 

Posted on

New Jersey seeks to regain edge in high technology

New Jersey seeks to regain edge in high technology

New Jersey’s formerly booming high-tech sector has a lower profile, battered by a series of corporate contractions over the last 16 years. But there are new efforts by state officials and business leaders to help the state recapture its once-dominant share of jobs in science, engineering and technology.

If it works, a thriving brain belt can power New Jersey’s economy back to prosperity, said Esther Surden, who has covered the technology industry for trade publications for over 30 years.  (Jordan, Asbury Park Press)

http://www.app.com/article/20120716/NJNEWS/307160009/N-J-aiming-regain-edge-high-technology?nclick_check=1

Posted on

NJEA looks to limit School choice takes tough stance on new charters

NJEA looks to limit School choice takes tough stance on new charters

The relationship between the New Jersey Education Association and charter schools has been a checkered one.

In the early 1990s, the powerful teachers union fought against the state’s charter school law before ultimately signing on. Since then, it has openly said it supports charters — and has organized unions in a dozen of them — while raising protests about some aspects of the alternative schools.

Now, the union is again mixing it up, as the Christie administration is about to announce the latest round of final charters for schools opening this fall, including possibly New Jersey’s first all-online schools. (Mooney, NJ Spotlight)

http://www.njspotlight.com/stories/12/0715/2050/

Posted on

Obama campaign revs up black outreach fears black voters have lost appetite for “hope and change.”

Obama campaign revs up black outreach fears black voters have lost appetite for “hope and change.”
By Niall Stanage and Amie Parnes

President Obama’s reelection campaign is making a determined and carefully calibrated effort to boost enthusiasm among black voters, a group that could swing the election in key battleground states.

Polls have Obama winning more than 90 percent of the black vote against Mitt Romney, but there are signs that the high African-American turnout that fueled his 2008 victories in North Carolina and Virginia could dissipate after the hard realities of the president’s first term.

The chances for depressed turnout are increased by the bad economy, which at its worst drove the unemployment rate for blacks above 16 percent and led to some disillusionment with the candidate of “hope and change.”

African Americans “don’t have to vote for [Romney]” to help his campaign, said broadcaster and author Earl Ofari Hutchinson.
“An abstention from the polls is effectively a vote for Romney,” he said. “If there is only a minuscule drop-off [in turnout], it will spell trouble.”

http://thehill.com/homenews/campaign/237885-obama-revs-up-black-outreach