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New England Motor Freight Shuts Down NJ Loses 4,000 Jobs

the staff of the Ridgewood blog

Elizabeth NJ, BANKRUPTCY filed in Newark NJ Court – New England Motor Freight Inc HEADQUARTERS IN ELIZABETH NJ CLOSES ITS DOORS – 4,000 JOBS LOST – NJ IS A JOB KILLER 

Ask Phil Murphy and Senator Menendez & Cory Booker what they did to try and help this company, besides raising taxes to the point of collapse. It’s no wonder Phil Murphy was begging  Jeff Bezos on his knees to bring the Amazon HQ to NJ. 

https://www.wsj.com/articles/trucker-new-england-motor-freight-files-for-bankruptcy-plans-to-shut-down-11549928566

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NJBIA: Improving NJ Business Climate Would Help Attract Amazon, and Others

Amazon Introduces New Tablet At News Conference In New York

the staff of the Ridgewood blog

Trenton NJ, NJBIA President and CEO Michele N. Siekerka Esq. issued the following statement today relating to Governor Murphy’s efforts to attract Amazon to Newark.

“NJBIA shares and appreciates Governor Murphy’s enthusiasm for Newark as an ideal location for Amazon’s future expansion. Newark’s rebirth, where we have seen billions of dollars in high-tech investment, has been nothing short of inspiring. We hope Amazon will recognize the quality of Newark’s location, infrastructure and workforce and how it is serving as a model on how to own the innovation mantle and replicate it in urban areas across the state.

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5 Smart Financial Tips to Young Professionals

the staff of the Ridgewood blog

Ridgewood NJ, You might be clueless about managing your finances when you are out in the real world. There is a lot of things to consider on budgeting your money once you get your paycheck or from your
sidelines if you are a freelancer. Unfortunately, personal finance was not a subject taught in high school or college. So, I will be giving out a few important bits of advice to understand money.

1. Learn how to manage your spending.
Most parents taught us about this skill when we were kids. If not, always remember that the sooner we learn about finances, the sooner we will find it easy to keep in order. Perhaps, it is very easy to purchase an item on credit but it is better to wait and save. Do you really want to pay the interest on that item? Or pay it in cash? If you make it a habit to put all your expenses on credit cards be sure to pay it in full on time or you have to pay it in the long years. There is nothing wrong with carrying a credit card especially with the convenience and rewards they offer. Make sure to always pay your balance in full. Do not carry more cards if you are not confident with your spending habits.

2. Keep your finances in order.
When we are starting our career path, the first thing we have in our mind is long-term financial planning and security. It is our main goal once we start earning money. There is a lot of how’s and why’s that we have in our mind. That is why we always need to organize our expenses such as paying rent, utility bills, and loans. It is a lot harder if you are financially independent. First, to solve the problem you have to create a budget. This is the key solution to our financial problems. There’s no way around of keeping track of where your money goes and where it should be going. Always make it realistic. You don’t have to deprive yourself of everything that doesn’t fall in the categories of “needs”. You simply have to make yourself responsible for your spending. In case you need extra cash, make sure to get it only from cash mart licensed money lender. This will endure that you get loans with fair terms and charges. Read moneylender reviews to know which licensed lender gives the best borrowing experience.

3. Be specific on your financial goals.
Always prioritize making your money work for you. Ask yourself, “What I am investing for? What is the long-term goal?” Avoid saving your money for traveling, or saving money for your lifestyle. Get specific with your goals. It is quite exciting and it also helps your financial advisor know where your money should be invested. This is a perfect exercise to decide the amount of risk you are willing to take on. Don’t waste money for something that is not worth your sacrifice. Figure out what you really need. Create SMART goals. This will make your certain ambitions to be specific, measurable, achievable, relevant and timely.

4. Learn the art of the deal.
This is the tool that will serve you well at every step of your career. Getting the first real job is excellent, but it is only your starting point. Negotiation is not only for the billionaire nor presidential candidates, but it is also for everyone. Know how to negotiate. Even if you stay in the job for a long time, you should take advantage of negotiation to increase your pay and benefits.
This has a lot of benefits for you. Not only do you get additional money but you also build your professional confidence. Don’t agree with something that would not be enough. Always consider everything like how much would could you save once you agree with this? What about your retirement plan? What about increasing your savings?

5. Invest your hard-earned money.
Investing is not as mysterious as it seems. It is actually pretty easy. Once your savings reach a certain level, put this in a high-yielding investment. Your choice may include, mutual funds, condominium, or house and lot investments, trust funds or equities. These are already available to retail investors for low opening account. Don’t invest too much in a low-interest earning accounts. Your goal is to maximize your earning. On the other hand, you can also start a small business opportunity. Your main goal here is to grow your income. Think of everything that can make it happen. Perhaps you can talk with financial advisors or your businessman friends. It is better to gain ideas at first before you move.

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NJGOP Chairman states the Obvious New Jersey Needs to Improve It’s Business Climate

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file photo by Boyd Loving

the staff of the Ridgewood blog

Trenton NJ,  NJGOP Chairman Doug Steinhardt released the following statement on President Trump’s State of the Union Address: “President Trump is taking our country in the right direction. His policies are earning new, well-paying jobs, helping small businesses thrive and lifting America’s economy to new heights. “While America grows, our home state of New Jersey lags behind. It’s time for New Jersey to fight back and tell Democrats in Trenton that we have had enough of the burdensome tax increases and strangling regulations. It’s time for both parties to come together and take action on improving New Jersey’s business climate and making our state more affordable.”

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Senator Anthony Bucco Warns Murphy’s Minimum Wage Law will lead to Layoffs and Automation

The Robot from Lost In Space

the staff of the Ridgewood blog

Trenton NJ, Senator Anthony Bucco said a law signed by Governor Phil Murphy today to raise the minimum wage in New Jersey from $8.85 to $15 per hour will force small business owners to make tough choices about staffing levels and the adoption of labor-replacing technologies.

“As a small business owner, I understand how difficult it is to maintain employees’ jobs and benefits when we’re constantly faced with new taxes and expensive mandates from the State,” said Bucco (R-25). “I have no doubt that the huge costs being forced on employers by Governor Murphy and the Democratic legislature will lead to reduced hours for workers, layoffs, and the faster adoption of automation technologies that already are driving workforce reductions in many industries.”

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Trenton Lawmakers Continue to Chase Small Business and Jobs Out of New Jersey

the staff of the Ridgewood blog

Ridgewood NJ, Expanding New Jersey’s paid family leave law to apply to more small businesses and dramatically increasing benefits is simply too much for companies to absorb, the New Jersey Business & Industry Association (NJBIA) said today.

The bill, which is scheduled for a vote today in both houses, would apply the law to companies with 30 or more employees instead of 50. It would also double the amount of paid leave from six weeks to 12 and increase the amount employees can be paid when taking leave.

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Minimum Wage: Urgent Concerns Of Small Business Community Not Heard

the staff of the Ridgewood blog

Ridgewood NJ, NJBIA President and CEO Michele N. Siekerka issued the following statement regarding the Assembly and Senate passage of the $15 minimum wage bill (A-15/ S.15) today.

“New Jersey’s small business community wrote thousands of letters to our lawmakers and testified how they will struggle, stagnate or fail when this legislation is signed by the governor. With today’s passage, the urgent concerns of this community have not been heard.

“For years, NJBIA has said any increase in the minimum wage should be done responsibly. This legislation falls woefully short of that standard, and our small businesses will bear the brunt of it. In the first year alone, they will see a 35 percent increase to their expenditures, when including increased payroll taxes as a result of the wage increase.

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$15 minimum wage = Layoffs, reduced hours, benefit cuts and automation

the staff of the Ridewood blog

Ridgewood NJ, “The democrats (and RINO Republicans) in the New Jersey state legislature have done everything they could to hurt the economy and businesses of New Jersey.

With uncompetitive business taxes and regulations, they now are adding to the dilemma with a $15 minimum wage,” NJ C-GOP president Paul Danielczyk stated.“Businesses are fleeing New Jersey to business-friendly states, and this legislation will add to that exodus, especially hurting small mom and pop businesses who cannot absorb this increase,” Danielczyk said.             

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New Jersey Is the State Where Immigrants Have the 3rd Biggest Economic Impact

the staff of the Ridgewood blog

Ridgewood NJ, With immigration reform remaining one of the biggest policy issues in 2019 and border security taking center stage in the longest government shutdown in history, the personal-finance website WalletHub today released its report on 2019’s Economic Impact of Immigration by State as well as accompanying videos.

According to the American Immigration Council , New Jersey hosts 500,000 undocumented immigrants comprised 24 percent of the immigrant population and 5.4 percent of the total state population in 2014.
604,615 people in New Jersey, including 204,946 born in the United States, lived with at least one undocumented family member between 2010 and 2014.

During the same period, 1 in 11 children in the state was a U.S. citizen living with at least one undocumented family member (180,580 children in total).

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Majority of New Jersey CPAs Polled Say NJ’s Tax Incentive Programs are Not Effective in Attracting Companies

Phil Murphy

the staff of the Ridgewood blog

ROSELAND NJ , More than 55 percent of the 490 certified public accountants (CPAs) polled earlier this month by the New Jersey Society of Certified Public Accountants (NJCPA) said the state’s tax incentive programs are not effective in attracting companies and jobs to the state. More than 28 percent said state tax incentives were somewhat effective and less than 9 percent believed they were effective.

Continue reading Majority of New Jersey CPAs Polled Say NJ’s Tax Incentive Programs are Not Effective in Attracting Companies