Labor Department: Unemployment insurance fund will be solvent before 2014
State Department of Labor and Workforce Development officials updated the Senate Labor Committee on the status of the Unemployment Insurance Trust Fund earlier today.
The fund, which peaked at $2.1 billion in loans to the federal government, is scheduled to become solvent again by the end of 2013, officials said.
Labor has imposed new regulations regarding workers who were fired for misconduct that have saved the state roughly $85 million, while an antifraud program is expected to save $100 million by March, according to deputy Commissioner Aaron Fichtner. (Kitchenman, NJBIZ)
>Council Candidate Gwenn Hauck responds to the fly....
Well, this was a truly sad, weird article for me to read this morning…. My name is Gwenn Hauck, and I am running for Village Council this year, because it is something I have always wanted to do. My reasons for running have nothing to do with any particular agenda I promise you. Unlike other people I think there are a lot of topics to care about in Ridgewood, not just Valley Hospital. I am a good person who is offering to participate in local politics, a thing more people should do! I simply love everything about Ridgewood and everything about New Jersey. I’m a life-long resident of the town who has experience on lots of committees and boards and with kids. I believe I am an easy person to work with and I have always been a peace-maker! Please do not make me out to have agendas with anyone. It isn’t true and it isn’t fair. What we really need is one happy, healthy Ridgewood again.
Ridgewood Fire Department receives federal funding
THURSDAY, FEBRUARY 9, 2012 THE RIDGEWOOD NEWS
U.S. Sens. Frank R. Lautenberg and Robert Menendez recently announced that the Ridgewood Fire Department will receive about $315,000 for a vehicle acquisition.
Ridgewood is one of six fire departments and a safety squad in New Jersey that received more than $2 million in federal funding through the Federal Emergency Management Agency’s (FEMA) Assistance to Firefighters Grant (AFG) program. Eligible uses of this grant funding include investments in training, equipment, vehicle acquisition and health programs.
“With first responders ready to roll at the sound of the alarm, we must be certain that they are sufficiently trained and equipped to handle emergencies safely and effectively,” said Lautenberg, vice chairman of the Senate Appropriations Subcommittee on Homeland Security, which funds the AFG program. “First responders put their lives on the line to keep us safe and they deserve our support.
>the fly wonders what surprises does Valley Hospital have in store for Village residents?
the fly has leaned that Jacques Harlow is back in action and it’s no surprise that Jacques Harlow has held a grudge against certain current council members since he was soundly defeated in the 2008 election.It’s no surprise that Jacques Harlow is a staunch supporter of Valley Hospital expansion and he is not pleased with the currents council vote.It’s no surprise that Jacques Harlow and Guenn Hauck served together on The Ridgewood Public Library Foundation Board of Directors.It’s no surprise that like Jacques Harlow, Guenn Hauck is a staunch supporter of Valley Hospital expansion.It’s no surprise that Jacques Harlow is Guenn Hauck campaign manager for her up coming bid for a council seat.
So the question is. What surprises does Valley Hospital have in store for Village residents?
The Ridgewood Library has a history of being one of the most innovative, capable and widely used community resources in the county and one of the top libraries in the state. As members of the board of trustees, we are dedicated to ensuring that it builds on that history without losing sight of today’s fiscal realities.
Our library is at a critical moment in its history. The decisions we make as a community on funding the library will set the course for what it can achieve in the next five years and beyond. We want to outline the nature of the challenge and solicit your input on the right way to proceed.
In New Jersey there are minimum and maximum amounts towns can dedicate to funding public libraries. The minimum is tied to real estate values. It’s no surprise then that the minimum amount is decreasing. It’s fallen over 7 percent since 2009.
Peak Oil Scare Fades as Shale, Deepwater Wells Gush Crude By Joe Carroll Feb 6, 2012 1:15 PM ET
When Daniel Lacalle, in his early 20s, took a job with Spanish oil company Repsol YPF SA in 1991, friends chided him for entering a field with no future. “They all said, ‘Why do you want to do that? Don’t you know only 20 years of oil is left in the whole world?'” he recalls.
Two decades and four energy crises later, the U.S. Geological Survey estimates that more than 2 trillion barrels of untouched crude is still locked in the ground, enough to last more than 70 years at current rates of consumption. Technological advances enable companies to image, drill and shatter subterranean rocks with precision never dreamed of in decades past. Trillions of barrels of petroleum previously thought unreachable or nonexistent have been identified, mapped and in many cases bought and sold during the past half decade, from the boggy wastes of northern Alberta, to the arid mountain valleys of Patagonia, to Africa’s Rift Valley.
“Betting against human ingenuity has been a mistake,” says Lacalle, who today helps oversee $1.3 billion as a portfolio manager at Ecofin Ltd. in London. “The resource base is absolutely enormous, so much so that we will not run out of oil in my lifetime, your lifetime, our children’s lifetimes or our grandchildren’s lifetimes.”
New Jersey takes home $838 million from foreclosure settlement
New Jersey and residents damaged by the foreclosure crisis would receive an estimated $838 million from a $26 billion national settlement among the states and five major lenders.
But the individual amounts will be pennies on the dollars — at most.
The largest chunk would be a projected $660 million for embattled homeowners trying to stave off foreclosure by one of the five big banks: Ally Financial (the former GMAC), Bank of America, Citibank, JP Morgan Chase, and Wells Fargo.
New Jersey’s total is the seventh highest amount among participating states, according to figures released by state Attorney General Jeffrey Chiesa. The amount could grow if other lenders sign onto the settlement. (Tyrrell, NJ Spotlight)
U.S. Sen. Bob Menendez (D-NJ) and state Sen. Joe Kyrillos (R-13) today engaged in the first big conflagration of their fledgling statewide contest on the issue of healthcare.
A week after he launched his U.S. Senate bid, Kyrillos went on offense, urging the Obama Administration to reverse course on requiring Catholic hospitals to include contraception in staff insurance packages. (Pizarro, PolitickerNJ)
>Foreclosure Deal to Spur U.S. Home Seizures By Prashant Gopal and John Gittelsohn – Feb 9, 2012 5:30 PM ET
The $25 billion settlement with banks over foreclosure abuses may trigger a wave of home seizures, inflicting short-term pain on delinquent U.S. borrowers while making a long-term housing recovery more likely.
Lenders slowed the pace of foreclosures as they negotiated with attorneys general in all 50 states for more than a year over allegations of faulty and fraudulent paperwork used to repossess homes. With today’s agreement, banks are likely to resume property seizures.
“The best thing about the settlement, frankly, is that it will be done,” said Stan Humphries, chief economist for Seattle-based Zillow Inc. (Z), a provider of home-sales data. “The shadow of the settlement hung over the market for a year now.”
>Ridgewood schools budget coming up $655K short Thursday February 9, 2012, 11:34 AM BY DARIUS AMOS STAFF WRITER The Ridgewood News
Ridgewood school district officials must make up for a $655,039 shortfall in anticipated revenues as they continue to work toward balancing the proposed 2012-13 operating budget.
Based on preliminary numbers revealed during Monday’s Board of Education meeting, the district is tasked with bringing the general fund revenues up to par with the expected appropriations, which as of this week totaled $90,851,246.
The district’s anticipated revenues ($90,196,207) represent a 1.6 percent increase over last year. The revenues include the proposed $82,949,642 local school tax levy, more than $1.6 million in state aid and approximately $1.5 million from the capital reserve account.
>State bullies Montville schools into following unconstitutional law Thursday, February 9, 2012 STAFF WRITER Neighbor News (Montville Edition)
Just three days after the Montville Board of Education voted on a resolution in opposition to New Jersey’s new anti-bullying law, the Council on Local Mandates ruled the legislation unconstitutional.
The reason for the 7-2 decision by the Council was consistent with the very reasons that Montville Board members cited during their discussion of the issue — the fact that the Harassment, Intimidation Bullying (HIB) law requires school districts to spend money on training and personnel but does not provide funding to cover those costs.
Village Hall : That piece of land has flooded for centuries
That piece of land has flooded for centuries. There is a reason a portion of Ridgewood, including the plain surrounding Village Hall, was fertile farm land. The brook would overflow its banks and deposit good soil.
The basement of the Elks club (now Village Hall) was always a storage area and nothing more. The Village never should have redesigned it for other use.
Before we go further, I would like to know what became of the lawsuits that folks discussed filing against the architect, Poskanker, and/or the builders. Was there any merit to suing them? Did they escape liability with the claim that, “well, its flood plain, what do you expect”?
Moreover, its an absolute crime if any Village building department or engineering department employee who oversaw this ill-fated project is still on the Village payroll, let alone working on this project. Some view this as the Mancuso/Pfund great big white elephant that cost us all millions. I hate to think that Keith Killion wants the same legacy.
Also, I would like to know why the current architects and builders think this round is going to be any different. And, let’s make sure they have assets or insurance in case they fail.
You can’t change or fool mother nature. Flood zone is flood zone. And remember, it is not only the overflowing of the Ho-HoKus brook. The other factor is the many underground streams that criss cross Ridgewood, flowing only during the rainy season. And that means that patches of land such as the Village Hall piece can flood every year, while a neighboring patch such as the Library’s, might only see water every 50 years.
This seems to be a tremendous waste of money and I have heard no good reason why we are doing it. Change the basement back to storage. Reconfigure the building itself. Or, use the money to add on to the building. But don’t waste it on space that is going to flood.
Finally looking to get it right Ridgewood officials justifies cost of Village Hall improvements
THURSDAY, FEBRUARY 9, 2012 BY JOSEPH CRAMER STAFF WRITER THE RIDGEWOOD NEWS
Restoration to the flood-damaged first floor of Village Hall will come at an initially higher cost than previous repair efforts, but the price tag will ultimately be justified by the proposed solution’s long-term sustainability and structural damage prevention in future flooding scenarios, village officials said
At a public meeting Wednesday, the Village Council introduced a bond ordinance to appropriate $550,000 for the remodeling and restoration of Village Hall’s first level.
Since the hall itself is prone to flooding due to its location in the Ho-Ho-Kus Brook floodplain, the first floor often takes on water in significant weather events. Most recently this occurred during Hurricane Irene, when several feet of water in the first level yielded around $90,000 in clean-up work and forced the relocation of community groups who normally use the space.
Obama relieves New Jersey of No Child Left Behind education standards
President Barack Obama on Thursday declared that New Jersey and nine other states are free from the federal No Child Left Behind education law, allowing them to avoid some of the more unpopular and rigorous mandates.
In exchange, New Jersey and the other states are promising higher standards and more inventive ways to measure what students are learning.
At the White House, Obama said he acted because the Republican-controlled Congress had failed to update the law despite widespread agreement it needs to be fixed.
“We’ve offered every state the same deal,” the president said. “If you’re willing to set higher, more honest standards than the one ones that were set by No Child Left Behind, then we’re going to give you the flexibility to meet those standards.” (Hester, New Jersey Newsroom)
>Housing development planners say their proposed projects would benefit Ridgewood Thursday February 9, 2012, 3:04 PM BY JOSEPH CRAMER STAFF WRITER The Ridgewood News
Citing projected minimal impacts on village services and district schools and suitability of the properties in question, planners for each of the two proposed downtown residential developments testified that the projects would bring overall benefit to Ridgewood.
Preliminary testimony on the two housing developments concluded at Tuesday’s Ridgewood Planning Board meeting, and more hearings are expected in a few months. In January, the board commissioned Village Planner Blais Brancheau to conduct a study of the downtown area to determine its capability to handle residential developments such as the ones currently proposed. The study is expected to take several months to complete, after which the developers will return to the planning board.
On Tuesday, each project’s planner tied together some of the lingering discussion threads and questions raised by board members, namely the projected increase each development would add to the school district’s enrollment and parking problems it could create.
