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As Fed Pauses Printing, Total World Debt Tops $100 Trillion

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As Fed Pauses Printing, Total World Debt Tops $100 Trillion

Submitted by Tyler Durden on 10/29/2014 13:45 -0400

If, as Lacy Hunt explains “debt is an increase in current spending in lieu of future spending,” then we have some ‘un-spending’ to do…

https://www.zerohedge.com/news/2014-10-29/fed-pauses-printing-total-world-debt-tops-100-trillion

And The Biggest Beneficiary Of QE3 Is…

Submitted by Tyler Durden on 10/29/2014 15:18 -0400
 
Aside from the S&P 500 of course, which made billionaires out of millionaires (even if it failed to make billionaires into trillionaires this time around –  we will have to wait for QE4 or QE5 for that), some may wonder: who was the biggest beneficiary of QE3? It certainly wasn’t the US middle class, which has seen its real wages decline in 6 of the past 7 months, and its disposable income is back at levels not seen since the mid-1990s. No, the biggest winner of QE3 is the same entity that we noted benefited the most from QE over the past 6 years, and which even the WSJ realized was the primary beneficiary of the trillions in cash created out of thin air by the Fed, when in late September Hilsenrath wrote “Fed Rate Policies Aid Foreign Banks”…  something we first said back in 2011 with “Exclusive: The Fed’s $600 Billion Stealth Bailout Of Foreign Banks Continues At The Expense Of The Domestic Economy, Or Explaining Where All The QE2 Money Went.”

So when it comes to the Fed’s QE3 generosity to foreign banks, what was the real number?

https://www.zerohedge.com/news/2014-10-29/and-biggest-beneficiary-qe3

Life Lessons To Derive From QE And Stress Tests

Submitted by Tyler Durden on 10/29/2014 15:42 -0400

QE destroys societies, economies and financial systems, it doesn’t heal them. So maybe it’s a touch of genius that the great powers of global finance have first pushed Keynes into the academic world and then academics like Bernanke and Yellen into positions such as head of the Fed, making everyone blind to the fact that what they think is beneficial, including many who think they’re real smart, actually hurts them most. This whole thing is so broken and perverted it’s getting hard to understand why anybody would want to continue clinging on to it. But then, what does anybody know? 95%+ of people have been reduced to pawns in someone else’s game, and they have no idea whatsoever.

https://www.zerohedge.com/news/2014-10-29/life-lessons-derive-qe-and-stress-tests

Alan Greenspan: QE Failed To Help The Economy, The Unwind Will Be Painful, “Buy Gold”

Submitted by Tyler Durden on 10/29/2014 – 13:22

“Gold is a good place to put money these days given its value as a currency outside of the policies conducted by governments.” … “I don’t think it’s possible” for the Fed to end its easy-money policies in a trouble-free manner. …”Effective demand is dead in the water” and the effort to boost it via bond buying “has not worked.”

https://www.zerohedge.com/news/2014-10-29/alan-greenspan-qe-failed-help-economy-unwind-will-be-painful-buy-gold

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Rep. Garrett: Feds’ Resistance to Quarantines ‘Unbelievable’

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Rep. Scott Garrett in Ridgewood at Irene Habernickel Family Park

Rep. Garrett: Feds’ Resistance to Quarantines ‘Unbelievable’

Tuesday, 28 Oct 2014 07:01 PM

According to CBS poll, conducted Oct. 23-27, 80 percent of Americans support mandatory quarantines for U.S. citizens and legal residents arriving from West Africa. Just 17 percent said they believe those without symptoms should be allowed to move freely.

The federal government’s resistance to quarantining people who have returned to the United States after being in contact with Ebola patients is “unbelievable,” says Rep. Scott Garrett, chairman of the House Financial Services Committee.

“It’s all just amazing and unbelievable. Talk to anybody, to a proverbial man on the street, and they will say that it’s as simple as talking to a child. If you have somebody outside of your house that’s a threat to you, what do you do? You lock the front door,” Garrett, a New Jersey Republican, said Tuesday on “The Steve Malzberg Show” on Newsmax TV.

Read Latest Breaking News from Newsmax.com https://www.Newsmax.com/Newsmax-Tv/Scott-Garrett-resistance-quarantining-government/2014/10/28/id/603695/#ixzz3HYhsJBXP

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Bad timing: Cory Booker contends with subpoena, bad press ahead of Senate election

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file photo Boyd Loving

Bad timing: Cory Booker contends with subpoena, bad press ahead of Senate election

POSTED AT 1:31 PM ON OCTOBER 27, 2014 BY NOAH ROTHMAN

New Jersey’s junior Senator and the former Democratic mayor of Newark, Cory Booker, will ask the state’s voters to send him back to the Senate next Tuesday to serve a full term. Booker was elected last year to fill the seat vacated by the late Sen. Frank Lautenberg (D-NJ), and his aim was to keep his head down and make no waves as a new member of that august body.

Booker’s efforts to avoid being defined as a partisan political actor have not gone unnoticed, and the Garden State golden boy – the subject of glowing profiles in the press and documentaries which portrayed his tenure in Newark as nothing short of transformative and heroic — suffered something last week with which he is largely unfamiliar: negative press.

In a rather scathing post by The Daily Beast’s Olivia Nuzzi published last week noted that Booker has done little to demonstrate that he is anything other than a “congressional seat-warmer.” She added that Booker has benefited by the fact that the New Jersey GOP has been only able to recruit unknown candidates like former presidential speechwriter Jeff Bell or gaffe-prone figures like former Bogota Mayor Steve Lonegan to challenge the junior senator.

Nuzzi noted, however, that it is becoming increasingly clear that New Jersey’s newest senator is not as squeaky clean as he is portrayed by his admirers in the nation’s newsrooms.

https://mail.google.com/mail/ca/u/0/?dispatcher_command=master_lookup#inbox?compose=1495c4e90f2b6403

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Ridgewood Public Library hosts photo exhibit

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Ridgewood Public Library hosts photo exhibit

OCTOBER 24, 2014    LAST UPDATED: FRIDAY, OCTOBER 24, 2014, 12:31 AM
BY EILEEN LA FORGIA
STAFF WRITER |
THE RIDGEWOOD NEWS

Photographer always ready for ‘perfect’ shot

Isaac Stackell’s photos are on display this month at the Ridgewood Public Library.

He calls the show a collection of images he created over the past 30 years. When asked where his favorite landscape scenes are, he said, “Anywhere the light is right. It could be at any given moment – you don’t know when that is going to happen.” He always has his camera with him.

Stackell does product photography for a large New York City photo equipment retailer – B&H Photo, a job that he says is precise and controlled – the exact opposite of landscape photography.

“Landscape photography is unexpected, not always planned – it adds a lot of excitement,” he noted. “Even though you go with something in your mind, nature might have a surprise for you.”

Stackell photographed some iconic structures close to home. On display are: “Verrazano Fog” with a cruise ship passing under. “Empire State Building in the Morning Mist” was photographed from the subway station right outside Penn Station. “It’s my favorite building – I’ve shot it many different seasons, time of day, and from different locations.”

– See more at: https://www.northjersey.com/arts-and-entertainment/art/ridgewood-public-library-hosts-photo-exhibit-1.1117172#sthash.JwCaw0nz.dpuf

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2 years after Sandy hit, some victims in Bergen County are still waiting for relief

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2 years after Sandy hit, some victims in Bergen County are still waiting for relief

OCTOBER 29, 2014    LAST UPDATED: WEDNESDAY, OCTOBER 29, 2014, 7:29 AM
BY AARON MORRISON
STAFF WRITER | 
THE RECORD

Volunteer Jessica Martinez being trained by Mike Stimson of Habitat for Humanity at a Little Ferry home damaged by Superstorm Sandy.

Of all the money dispersed to homeowners and renters whose lives were upended by Superstorm Sandy two years ago today, not a penny of it has helped rid Donna Mojica of the mold that has festered around her water-damaged trailer home.

Sick of looking at the mold as it crept up the walls of her kitchen and bedroom, the Moonachie resident took a paintbrush to the white- and black-speckled spores.

The Mojicas aren’t confident they will ever receive the thousands of dollars needed for mold remediation, despite the assistance of a case manager helping them navigate various applications for aid grants.

So far, the family has received only about $600 from the Federal Emergency Management Agency to replace an awning on the trailer and two months of rental assistance, a welcome reprieve that ends next month. Aside from the paint, nothing has been done about the Mojicas’ mold problem in two years.

“How long am I going to have to breathe this in before I get sick?” said Donna Mojica, who, along with her husband, Adam, reflects a weariness among some storm victims around the state who say aid programs have been inequitably administered and leave some feeling underserved after the worst weather-related disaster of its kind on record.

The storm, which began as the largest hurricane on record in the Atlantic Ocean and devastated the Caribbean, the East Coast and parts of Canada, made landfall as a powerful rain and wind event in New Jersey on Oct. 29, 2012. It killed 37 people statewide, including one person in Bergen County, where 5,000 people were evacuated from the low-lying towns of Little Ferry and Moonachie. Flooding caused by a 10-foot storm surge overwhelmed the nearby Meadowlands’ flood control systems, and municipal pump stations were inadequate to sweep water back into the Hackensack River.

Despite more than $1 billion allocated to victims in the form of relocation, rebuilding and other supplemental grant funds, according to the Christie administration, a new Monmouth University poll finds that less than a third of victims in the state feel recovery efforts have focused on them.

– See more at: https://www.northjersey.com/news/2-years-of-frustration-1.1120653#sthash.1BzJpzEC.dpuf

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142nd Annual Harvest Fair at Old Paramus Church

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142nd Annual Harvest Fair at Old Paramus Church 

All are Welcome!

For the 142nd consecutive year, the members of Old Paramus Church are preparing for its annual Harvest Fair on Nov. 1, from 10 to 4. Complete with wonderful crafts by very talented members, lovingly prepared lunches and/or snacks, a bake shop of homemade pies, breads, cookies and cakes, a jewelry shop, a charming Christmas boutique, attic treasures, a farm stand with the finest apples in Bergen County, cheeses, fresh and dried herbs, plants for your house or garden (it’s not too late to plant this fall!), scarves, handbags, linens, a raffle of specialty gift baskets, stationery, kitchen items, books, LPs, and a garage sale complete with tools, and household items, the church is bustling with activity in preparation for the arrival of loyal devotees and newcomers from the entire community. There are great bargains to be had at every turn. Come join the fun and mingle with some lovely neighbors and friends from the Old Paramus community while you enjoy shopping. Parking is ample. The building is handicapped-accessible and the welcome is warm. The location is Old Paramus Church, 660 East Glen Ave., at Rt. 17 South, in Ridgewood.

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Survey: Since Newtown school attack 85% of N.J. school districts have tightened security

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Survey: Since Newtown school attack 85% of N.J. school districts have tightened security

OCTOBER 28, 2014, 9:00 PM    LAST UPDATED: TUESDAY, OCTOBER 28, 2014, 9:00 PM
BY HANNAN ADELY
STAFF WRITER | 
THE RECORD
Print

Since the deadly school shooting in Newtown, Conn., more than 85 percent of school districts in New Jersey have taken new security measures, including adding cameras, hiring security and making building changes, according to a 2013 survey of local school officials.

Their responses were included as part of a report titled “What Makes Schools Safe?” released Tuesday by a task force of the New Jersey School Boards Association. The task force studied security improvements and made recommendations for school safety.

Of the 273 school board presidents and business administrators who answered the survey, about two-thirds said their schools had made technology improvements, including adding surveillance cameras and upgrading electronic access systems for buildings.

About 45 percent said they had made physical changes like safeguarding windows and doors and changing outside landscaping. Just under a quarter started using emergency alert systems, while an additional 31 percent added perimeter patrols.

Since Newtown, many schools have hired security personnel. About 17 percent of respondents use retired officers and 19 percent use non-police security, but the survey did not ask if those individuals carry weapons. An additional 2 percent employ part-time police who are paid less and don’t have training to work in schools.

– See more at: https://www.northjersey.com/news/survey-since-newtown-school-attack-85-of-n-j-school-districts-have-tightened-security-1.1120219#sthash.iIoQ7Nzm.dpuf

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Hudson County Democrat Machine looks to push Cho in Bergen County

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file photo Boyd Loving Hudson County Democrat Machine in Ridgewood

Hudson County Democrat Machine looks to push Cho in Bergen County 

Ridgewood Nj, In the latest attempt by the Hudson County Democratic Machine to take over Bergen County , two of Hudson County’s top Democrats are looking to move into Bergen and push Roy Cho .

These are the same forces pushing for over development , higher taxes , and more control of our schools to Washington DC.

CD5 race: Prieto, Sires: Hudson Dems ready to put ‘bodies on the ground’ for Cho

JERSEY CITY – Two of Hudson County’s most prominent Democrats looked north at fellow Democrat Roy Cho’s effort in the Fifth Congressional District race, then offered Election Day help in a traditional Hudson way. (Bonamo/PolitickerNJ)

https://politickernj.com/2014/10/cd-5-race-prieto-sires-hudson-dems-ready-to-put-bodies-on-the-ground-for-cho/

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Good Samaritan’s finding of missing Ridgewood toddler leads to charge of receiving stolen property

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Good Samaritan’s finding of missing Ridgewood toddler leads to charge of receiving stolen property

OCTOBER 28, 2014, 8:38 PM    LAST UPDATED: TUESDAY, OCTOBER 28, 2014, 8:46 PM
BY JIM NORMAN
STAFF WRITER | 
THE RECORD

RIDGEWOOD – Village police arrested a 27-year-old Paterson man and charged him with receiving stolen property after he and a coworker found a missing toddler walking on Maple Avenue and the two men stopped to make sure the child was safe, authorities said Tuesday.

Police said the chain of events started on Saturday, when police received a report of a 4-year-old boy walking without an adult nearby.

When patrol officers arrived at the scene, police said, they found the boy with two sanitation company employees, who then turned the child over to the officers.

Police said the officers determined that the child had left home without the knowledge of his caregiver, and they returned him back to his home safely.

Later that evening, police said, one of the two men, identified as Michael T. Jordan, returned to the child’s home looking for a reward. Jordan also returned the caregiver’s wallet to her, but items were missing, police said. The authorities did not say how Jordan had obtained the wallet.

– See more at: https://www.northjersey.com/news/good-samaritan-s-finding-of-missing-ridgewood-toddler-leads-to-charge-of-receiving-stolen-property-1.1120198#sthash.9wKBCrM0.dpuf

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Planning Board Meeting Amended Schedule – November 3

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Planning Board Meeting Amended Schedule – November 3

PLANNING BOARD

AMENDMENT TO MEETING SCHEDULE


Special Public Meeting: Monday, November 3, 2014

Change of Date and Location

In accordance with the provisions of the “Open Public Meetings Act,” please be advised that the Planning Board has scheduled a special public meeting and work session for MONDAY, NOVEMBER 3, 2014, in the RIDGEWOOD HIGH SCHOOL STUDENT CENTER, 627 E. RIDGEWOOD AVENUE, RIDGEWOOD, NJ beginning AT 7:30 p.m.

The Board may take official action during this Special Public Meeting at which time the Board will continue the public hearing concerning a proposed amendment to the Land Use Plan Element of the Master Plan which would recommend changes in zone district classifications and boundaries within the Central Business District and surrounding area, creating the AH-2, B-3-R, and C-R Zone Districts and amending the existing C Zone District. 

All meetings of the Ridgewood Planning Board (i.e., official public meetings, work session meetings, pre-meeting assemblies and special meetings) are public meetings which are always open to members of the general public.

Michael Cafarelli

Secretary to the Board

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Obama White House did little to stop ‘The Rise of ISIS,’ says ‘Frontline’ documentary

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Obama White House did little to stop ‘The Rise of ISIS,’ says ‘Frontline’ documentary

Ex-administration officials sharply critical of Obama, failure to help Syrian rebels earlier

President Obama’s former ambassador to Iraq says in a new interview that his administration “did almost nothing” in response to intelligence warnings earlier this year that Islamic State radicals were gaining ground in Iraq and threatening the country’s stability.

“The administration not only was warned by everybody back in January, it actually announced that it was going to intensify support against ISIS with the Iraqi armed forces. And it did almost nothing,” says James Jeffrey, who served as U.S. ambassador to Iraq between 2010 and 2012, in “Frontline’s” “The Rise of ISIS,” which airs on PBS Tuesday night (check local listings) and is previewed here exclusively on Yahoo News.

Jeffrey is one of a number of ex-administration officials who appear in the film and sharply criticize the decisions of the president they once served. Former U.S. Ambassador to Syria Robert Ford and former Defense Secretary Leon Panetta both take issue with Obama’s refusal to arm moderate rebels in Syria who — it is now argued — could have acted as a counterweight to the Islamic State (also called ISIS or ISIL).

“I think we made the wrong decision in not providing assistance to the rebels,” Panetta bluntly says at one point.

The film, reported by correspondent Martin Smith, offers a richly detailed account of how the Iraqi government of Prime Minister Nouri al-Maliki alienated the country’s disenfranchised Sunni population, making reckless accusations of terrorism against Sunni leaders — including the country’s Vice Prime Minister Tariq al-Hashimi. Those allegations — flatly denied by al-Hashimi on camera — were based on the testimony of bodyguards who, it is strongly suggested, were tortured.


https://news.yahoo.com/obama-white-house-did-little-to-stop–the-rise-of-isis—says-frontline-documentary-133053988.html

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Cho endorsement not compelling

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file photo Boyd Loving

Cho endorsement not compelling

Regarding “Cho in the 5th” (Editorials, Oct. 26):

Richard Cornwell

The Record’s endorsement of Roy Cho over Rep. Scott Garrett, R-Wantage, was neither logical nor compelling. The editorial described Garrett as intelligent, well-versed in issues and deeply committed to the principle of limited government (sounds good to me), while admitting that Cho is a political novice who lacks governmental experience and whose belated permanent residency in Hackensack is a murky and embarrassing issue. Hmm, there must be a “but” here somewhere.The editorial laments Garrett’s adherence to his convictions: If only Garrett were to recognize that he was sent to Washington to “get things done.” In fact, Congress does more harm than good. I, for one, would like to see him undo some things. Cho, it seems, would like to extend the federal government’s reach.

I found particularly unsavory the implication that Garrett is opposed to a safety net for society’s most vulnerable. That slur warrants a retraction.

– See more at: https://www.northjersey.com/opinion/opinion-letters-to-the-editor/the-record-letters-tuesday-oct-28-1.1119426#sthash.4vxZtN5A.dpuf

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Village Christmas Tree Donation Sought

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Village Christmas Tree Donation Sought

The Village of Ridgewood is seeking donation of the 2014 holiday tree to be displayed in the central business district throughout the season.

Removal and transport will be included if your donation is accepted.

Please contact the Parks and Recreation Department at the Stable, telephone 201-670-5560, or by email to [email protected].

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Learning From Superstorm Sandy: PSE&G Improves Infrastructure, Communications and Logistics

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file photo Boyd Loving

Learning From Superstorm Sandy: PSE&G Improves Infrastructure, Communications and Logistics
October 28, 2014

(Newark, N.J. – Oct. 28, 2014) Superstorm Sandy was the most powerful and destructive storm in Public Service Electric and Gas Company’s 111-year history, causing more than 2 million PSE&G customers to lose power. In the two years since the storm, PSE&G, which serves nearly three-quarters of New Jersey’s population, continues to make significant improvements to its infrastructure, communications and logistics that will keep more customers in service during a storm, and restore service faster in the aftermath.

”During the two-week period following Sandy, we made more than 2 million electric service restorations — a record for any utility in the country,” said Ralph LaRossa, president and chief operating officer of PSE&G.  “Nearly half of our outages were caused by switching and substations that flooded due to the storm surge. Water ranging from 4 to 8 feet inundated our facilities — including some that had never been submerged in all their years of operation.”

Before Sandy, PSE&G began rewiring its system, adding 69-kV lines for added capacity and reliability.  That work continues.  The new lines are being installed on stronger poles with better lightning protection, and fiber optic wires that improve communication between substations.

Improving Infrastructure
The transmission improvements are only the beginning. During the next three years, PSE&G’s $1.22 billion Energy Strong program will help the utility significantly strengthen and protect its electric and gas systems against severe weather damage.

As part of the Energy Strong program, PSE&G will protect, raise or relocate 29 switching and substations; replace and modernize 250 miles of gas mains in or near flood areas; create redundancy in the system; protect five natural gas metering stations and a liquefied natural gas station affected by Sandy or located in flood zones; and deploy smart grid technologies to better monitor system operations.

Work is currently under way in 28 municipalities to replace low-pressure cast iron gas mains, with high-pressure plastic pipes. “The new pipes and higher pressure will keep the water out and customers in service when it floods,” said LaRossa. “We expect to complete 88 miles of this work by the end of the year. On the electric side, extensive planning, engineering and procurement are under way to begin work on our switching and substations early next year.”

Smart grid projects underway include installing advanced technologies in PSE&G substations to facilitate full remote monitoring and control; and contingency restoration work that adds smart switches and fuses, and multiple sections on circuits. These upgrades ensure that when there is an outage, service will be restored faster and the outage will affect fewer customers.

Changing Communications Channels
In addition to improving infrastructure, PSE&G has made significant changes to better communicate with customers before, during and after storms. “We’ve ramped up our messaging across all channels, including Twitter and Facebook,” LaRossa said. “Our goal is to help customers understand what to expect from an event, how they can prepare and stay safe, and how they can best communicate with PSE&G.”

New communication tools include MyAlerts, which allows customers to opt in for text messages, as well as email notifications about outages in their area and service restoration; and an enhanced Outage Map that provides customers with detailed information about power outages in their neighborhood and across PSE&G’s service territory. Customers can access these PSE&G communications tools in the company’s “Storm Center” at www.PSEG.com.

More Training, Better Logistics
Internal communications, emergency training and logistics are critical to storm preparedness. Located at the company’s headquarters in Newark is its Delivery Emergency Response Center (DERC), which is activated to oversee multiple operations in the field when preparing for and responding to a major storm. People representing all functions across the company staff DERC 24/7 — getting the right people, to the right places, with the right equipment at the right time.

PSE&G conducts extensive storm outage planning, training and exercises throughout the year. So far this year, its employees have completed more than 1,700 emergency preparedness and response training sessions, logging nearly 4,000 hours of training. Training in safety and damage assessment equips PSE&G office employees to help in the field during emergencies.

Since Sandy, process improvement teams have studied more efficient ways to undertake restoration activities, and PSE&G has expanded its network of mutual aid from eight to 22 utilities. “The utility industry is somewhat unique in that we all help each other,” said LaRossa. “During Sandy, we brought in 4,500 contractors from 24 states and Canada to help restore service.”

To accommodate the massive influx of people and equipment during Sandy, PSE&G set up 12 staging areas across the state. Since then, the company has identified 22 staging areas and has specific site plans and role assignments for each of these “pop-up utility cities” where material and equipment is stored and trucks can be fueled.

“From 2010 to 2012, we experienced the four most destructive storms in our history. We learned a lot,” said LaRossa. “We hope to never see the likes of Sandy again, but feel confident that our infrastructure investments, comprehensive communications tools and emergency response training will ensure that our customers, employees and systems are better ready to weather severe storms in the future.”

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New Jersey Rates Worst State for Business Taxes

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New Jersey Rates Worst State for Business Taxes 

Ranking the Best and Worst States for Business Taxes

Annual release of the 2015 State Business Tax Climate Index

Washington, DC (Oct 28, 2014)—Wyoming, South Dakota, and Nevada rank among the best business tax climates, while companies in New Jersey, New York, and California struggle with the worst tax codes in the county, according to the newest edition of the Tax Foundation’s annual State Business Tax Climate Index.

The report’s key findings include:

The 10 most competitive states are: Wyoming (#1), South Dakota (#2), Nevada (#3), Alaska (#4), Florida (#5), Montana (#6), New Hampshire (#7), Indiana (#8), Utah (#9) and Texas (#10).
The 10 least competitive states are: New Jersey (#50), New York (#49), California (#48), Minnesota (#47), Vermont (#46), Rhode Island (#45), Ohio (#44), Wisconsin (#43), Connecticut (#42), and Iowa (#41).
The most notable ranking changes occurred in North Carolina, Nebraska, North Dakota, New York, Wisconsin, Maine, and Kansas (see state specific press releases for more details).

The report, now in its 11th edition, measures how well structured each state’s code is by analyzing over 100 tax variables in five different categories: corporate, individual income, sales, property, and unemployment insurance taxes. States are punished for overly complex, burdensome, and economically harmful tax codes, but are rewarded for transparent and neutral tax codes that do not distort business decisions. A state’s ranking can rise or fall significantly based not just on its own actions, but on the changes or reforms made by other states.

Since the last edition, many states have experienced ranking changes largely because of the fundamental reforms made in a handful of states. The most exciting change occurred in North Carolina which experienced the largest rank improvement in the study’s history, jumping from 44th to 16th place due to a fundamental overhaul of state’s tax code. Nebraska, North Dakota, New York, and Wisconsin also improved their tax codes. Conversely, Maine was the only state that saw a significant drop in rank this year due to its increased state sales tax rate.

“The federal government is gridlocked, but state policymakers on both sides of the aisle are enacting truly fundamental reforms,” said Tax Foundation Economist and Manager of State Projects Scott Drenkard.  “States are doing their part and it’s time that Washington steps up.”

The goal of the State Business Tax Climate Index is to start a conversation between taxpayers and policymakers about how their states fare against the rest of the country. This report helps answer the questions: How well is your tax code structured? How competitive is your state compared to the rest of the county? Are businesses in your state spending too much time complying with onerous tax provisions? Are you double taxing things you shouldn’t?

Full Report: 2015 State Business Tax Climate Index 2015 State Business Tax Climate Index