Category: Uncategorized

>Garrett Chairs Hearing to Examine Accounting and Auditing Profession
Mar 28, 2012

WASHINGTON, DC – Rep. Scott Garrett (R-NJ), Chairman of the Financial Services Subcommittee on Capital Markets and Government-Sponsored Enterprises, delivered the following opening statement today at a hearing to examine the state of the accounting and auditing profession:

“Today, we are here to examine the accounting and auditing profession.  The hearing is aptly entitled: ‘Accounting and Auditing Oversight: Pending Proposals and Emerging Issues Confronting Regulators, Standard Setters, and the Economy.’

“Accurate and reliable financial reporting to investors is a key cornerstone to our nation’s capital markets.  It is essential that investors have the appropriate information needed to make informed decisions on where to invest their capital.  As our nation continues to recover from the recent financial crisis, we must work hard to restore the vitality to our markets and foster an environment where American public companies can do what they do best—create jobs.

“There are three broad areas that I hope to explore in greater detail today with our esteemed panelists.

“First, I’d like to hear from the SEC where we stand with international convergence of accounting standards.  I know this is a top priority for many in the business community.  I also realize that there is some disagreement between large and small companies as well as different industries as to what the preferable outcome of convergence will be.  I am interested in discussing the steps the chairman and staff are taking to overcome these various obstacles and how we can ensure the harmonization of these standards creates an atmosphere where U.S. companies and investors have the best information possible.

“Second, I look forward to learning more about the current process that FASB and GASB go through to develop their standards.  I agree that the integrity and independence of the standard setting process is essential and that Congress should not legislate accounting standards.  I have seen some positive statements from market participants about the improvement in standard setting process and I appreciate both FASB and GASB balancing the delicate line of listening to the business community’s concerns while ensuring an independent process.

“Finally, I would like to discuss some of the PCAOB’s current proposals and how and why those proposals came to pass.  I think it is important to remind the PCAOB that it is not a policy-making entity; Congress and this committee are the policy makers.  The PCAOB’s job is to regulate and oversee the auditing profession.

“I am very concerned about some of the recent activist proposals put forth by the PCAOB.  I agree with the Chamber of Commerce and others that believe the PCAOB is ‘engaged in mission-creep, crossing the threshold of audit regulation in an attempt to regulate corporate governance…’

“Specifically, the recent concept release on mandatory audit firm rotation is especially disconcerting.  What is the specific problem you are trying to solve for?  What data are looking at?  What kind of specific cost-benefit analysis was done?  What solution does that lead us to?  Too many times with many of our regulators, the policy outcome is predetermined before the hard work is done to determine what the best solution should be.

“I would like to commend the gentlemen from Pennsylvania, Mr. Fitzpatrick, for his legislation preventing the PCAOB from moving forward on this policy.  This hearing will serve as a legislative hearing for that proposal and it is my hope that the subcommittee will consider this bill at the next possible markup.

“In conclusion, while I believe these three areas, especially the concerns around an overactive PCAOB, are the most pressing issues—I realize there are also many other issues that require further discussion and I look forward to a constructive hearing.”

>BREAKING: Police investigating alleged sexual assault on South Van Dien 
the staff of the Ridgewood blog
MONDAY APRIL 2, 2012

(RIDGEWOOD_NJ) The Ridgewood Police Department has reported it is investigating claims that a 19-year-old female was sexually assaulted at a village residence in early morning hours Monday. According to the Ridgewood News Capt. Jacqueline Luthcke, the woman was allegedly sexually assaulted at approximately 12:30 a.m. by a man at a home on South Van Dien Avenue. According to Police the woman was transported and treated at Valley Hospital.

Citing the ongoing investigation, Luthcke,told the Ridgewood News  additional details about the incident were not yet available to the public . Information about the alleged suspect, including his whereabouts, is also not available, and no arrest had been made at this time.Luthcke told the Ridgewood News ,”We have a lot of allegations right now,” “but no charges have been filed at this time.”

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Arthur Murray Open House 100 Year Celebration Dance Party
Wed, April 04, 2012
Time: 7:45 PM – 8:45 PM

Arthur Murray Dance Studio, 257 East Ridgewood Ave., Ridgewood, NJ 07450
Event Description

The Arthur Murray Dance Studio will be holding an Open House 100 Year Celebration Dance Party on April 4th from 7:45-8:45 PM.

Anyone can come and dance to help them celebrate. Newcomers will receive a free lesson., The party might simulcast to 100yearsofdance.com along with the other 270 studios world wide, to attempt the world’s biggest dance party.

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Unpaid bloggers’ lawsuit versus Huffington Post tossed

By Jonathan Stempel
Fri Mar 30, 2012 3:42pm EDT
(Reuters) – AOL Inc on Friday won the dismissal of a lawsuit by unpaid bloggers who complained they were deprived of their fair share of the roughly $315 million that the company paid last March to buy The Huffington Post website.

U.S. District Judge John Koeltl rejected claims by social activist and commentator Jonathan Tasini and an estimated 9,000 other bloggers that they deserved $105 million, or about one-third, of the purchase price.

The lawsuit contended that the work of unpaid content providers like bloggers gave The Huffington Post much of its value, and that the website’s sale allowed co-founder Arianna Huffington to profit at their expense. Tasini said he alone had made 216 submissions to the website over more than five years.

https://www.reuters.com/article/2012/03/30/us-aol-huffingtonpost-bloggers-idUSBRE82T17L20120330

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Photo by Boyd Loving


Many of the upper jobs at Village Hall pay significant more here than other nearby comparable towns

Police are a union contract and cannot currently be renegotiated I’m pretty sure.

They do make more here though than say in HHK- officers over there that we know have told me so.

But many of the upper jobs at VH do not involve a union contract, yet they pay signif. more here than other nearby comparable towns. By “comparable” I mean size and/or population.

Is job of Clerk here really so much more difficult to justify paying $110,740 when Mahwah pays theirs $67,940? That’s one of many examples. Assessor, Tax Collector, and numerous others all seem to pay a lot more here than in other towns. Most also have assistants or deputies.. both here and in other towns.

(source:) https://php.app.com/NJpublicemployees11/search.php
Figures do not include perks, pensions, benefits, etc. And those are 2010 figures — the most recent ones on that site I think.

In the above example, per last census, Mahwah has slightly more people than Village has. It of course does have a much larger land area.

Yet… aren’t the duties pretty much the same? Does the work here require a lot more time, skills and/or other things than it does in other nearby towns for those kinds of jobs? If so, what are they?

Or are we just paying a lot more than other towns for many of these jobs? What do we get in terms of added value for all the added money that is spent?

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Mayor Killion proclaim April 4th Arthur Murray Day in Ridgewood NJ!
Wed, April 04, 2012
Time: 1:00 PM – 10:00 PM
Arthur Murray Dance Studio, 257 E. Ridgewood Ave. (entrance on Maple Ave.)

Mayor Killion has proclaimed April 4th Arthur Murray Day in Ridgewood NJ in honor of Arthur Murray Franchised Dance Studios 100 Year Anniversary!

Arthur Murray Dance Studio is located at 257 E. Ridgewood Avenue (Entrance on Maple Ave.)

In 1912, a young immigrant living in New York named Moishe Teichmann taught his first dance lesson. At the outbound of WW1, under pressure of an anti German feeling prevalent in the US,
Teichmann changed his name to Arthur Murray.

On April 24, 1925, Murray married his famous dance partner, Kathryn Kohnfelder – A Jersey City resident, with whom he had met at a radio station in New Jersey. She was in the audience while he was broadcasting a dance lesson.

After their marriage, the mail-order business declined and the Murrays opened a dance school offering personal instruction. Their business prospered, especially in 1938 and 1939 when Arthur picked 2 little-known dances, the “Lambeth Walk” and “The Big Apple”, and turned them into dance crazes. They were taught at hotel chains throught the country, and the name “Arthur Murray” became a household word.

There are now hundreds of Arthur Murray studios globally, with specially trained instructors, making Arthur Murray the most successful dance instructor in history.

On April 4th, Arthur Murray Franchised Dance Studios world wide, will celebrate the legacy of Arthur Murray by having a dance party in every franchised studio in the world that will be streamed live on the internet making it the world’s largest dance party. Dance studios in the United States, Austrailia, South Africa, Europe, Canada, Dubai and many more will similtaneiously stream their celebrations of this once in a lifetime celebration; Arthur Murray’s 100 years of changing people’s lives one step at a time.

For my details in Ridgewood call –
Sarah and Lucia
201-389-6980
www.danceclassesnewjersey.com
amridgewood@yahoo.com

>Scott Garrett Discusses Threats to American Capital Markets in Speech to U.S. Chamber of Commerce
Mar 28, 2012

WASHINGTON, DC – Rep. Scott Garrett (R-NJ), Chairman of the Financial Services Subcommittee on Capital Markets and Government-Sponsored Enterprises, today delivered a speech to the U.S. Chamber of Commerce titled “Restoring American Competitiveness.”  In his speech, Garrett highlighted the ways in which the heavy-hand of the Obama administration is locking up capital and threatening American competitiveness.

Below is the full text of Garrett’s remarks as prepared for delivery:

“First, I want to thank the Chamber and its Center for Capital Markets Competitiveness for inviting me to speak with you here today.

“Thanks very much, David, for that very kind introduction, and thanks to Tom Quaadman and his team for all of the good work they do, regardless of what some Beltway regulators say about you.  In fact, were looking forward to having Tom testify later this morning before the subcommittee on accounting and auditing issues.  Tom, you’ll be happy to know that there are many members of the subcommittee that have similar concerns about mandatory firm rotation.

https://garrett.house.gov/press-release/garrett-discusses-threats-american-capital-markets-speech-us-chamber-commerce

>BOE Elections : Gina Damasco

Gina Damasco is not a man. She is an attorney who presently works for the U.S Department of Education, and prior to that as a school board attorney representing numerous public school districts around New Jersey.

Further, Gina Damasco has never claimed to have successfully opposed the cell tower (it has been claimed on her behalf in blogs); rather, she made a public plea to form a committee of council members and residents to research the siting of cell towers in the community and to request a moratorium on the then-pending RFP to construct one at the firehouse and any other pending applications until such committee had been formed.

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the “forgotten” side of Ridgewood?

Quote from the Patch: “Though Shinozuka, who lives in the “forgotten” side of Ridgewood east of Route 17 (AKA Burglary City),…….”

First of all, did the Patch even consider the amount of taxpayers and voters in Ridgewood who happen to live east of Route 17.  I can promise you it’s a considerable force to be reckoned with!  I can’t believe a news outlet dared to right such a disgusting remark.

Second, since the Patch is the mouthpiece of Councilman Aronsohn these days one would question whether he is in agreement with these disparaging comments.  Stay on “your side” of town and leave us alone!

Note to all residents of the “Forgotten” side of Ridgewood, VOTE SHINOZUKA!!!!!  And shame, shame, shame on the Patch!

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Americans angry with Obama over gas prices
By Patricia Zengerle

WASHINGTON | Tue Mar 27, 2012 6:14pm EDT

(Reuters) – More than two-thirds of Americans disapprove of the way President Barack Obama is handling high gasoline prices, although most do not blame him for them, according to a Reuters/Ipsos online poll released on Tuesday.

Sixty-eight percent disapprove and 24 percent approve of how Obama is responding to price increases that have become one of the biggest issues in the 2012 presidential campaign.

In the past month, U.S. fuel prices have jumped about $0.30 per gallon to about $3.90 and the Republicans seeking to replace the Democrat in the November 6 election have seized upon the issue to attack his energy policies.

https://www.reuters.com/article/2012/03/27/us-usa-campaign-poll-idUSBRE82Q19Z20120327

>Ridgewood Concert Band 

Friday, March 30 at 8PM; Prelude at 7:30PM. West Side Presbyterian Church, 6 S. Monroe St, Ridgewood. Hackensack High School Concert Band – guest Solist: Elaine Douvas,Principal oboe, Met Orchestra. Music of Graniger, Sousa and others Tickets: See website www.ridgewoodband.org

>Government proposes first carbon limits on power plants
By Timothy Gardner

WASHINGTON | Tue Mar 27, 2012 4:19pm EDT

(Reuters) – The Obama administration proposed on Tuesday the first rules to cut carbon dioxide emissions from new U.S. power plants, a move hotly contested by Republicans and industry in an election year.

The Environmental Protection Agency’s proposal would effectively stop the building of most new coal-fired plants in an industry that is moving rapidly to more natural gas. But the rules will not regulate existing power plants, the source of one third of U.S. emissions, and will not apply to any plants that start construction over the next 12 months.

The watering down of the proposal led some ardent environmentalists to criticize its loopholes, but a power company that has taken steps to cut emissions praised the rules.

https://www.reuters.com/article/2012/03/27/us-usa-carbon-idUSBRE82Q0W120120327

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Home prices hit a 10-year low
By Les Christie | CNNMoney.com

The housing market started off the new year with a thud. Home prices dropped for the fifth consecutive month in January, reaching their lowest point since the end of 2002.

The average home sold in that month lost 0.8% of its value, compared with a month earlier, and prices were down 3.8% from 12 months earlier, according to the S&P/Case-Shiller home price index of 20 major markets.

Home prices have fallen a whopping 34.4% from the peak set in July, 2006.

“Despite some positive economic signs, home prices continued to drop,” said David Blitzer, spokesman for S&P. “Eight cities — Atlanta, Chicago, Cleveland, Las Vegas, New York, Portland, Seattle and Tampa — made new lows.”

https://finance.yahoo.com/news/home-prices-hit-10-low-131200327.html

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The Valley Hospital Announces Opening of New Women’s and Children’s Resource Center

The Valley Hospital is pleased to announce the opening of the new Women’s and Children’s Resource Center. The new Center coordinates the wide range of services Valley offers to women and their families.

“The Center is designed to offer personal assistance to meet the healthcare needs for women of all ages and their families,” said Deborah Rath, Center Coordinator. “We recognize how busy women are and want to support them in finding the resources they need for their healthcare.”

The Center is located at the hospital’s Dorothy B. Kraft Center, at 15 Essex Rd. in Paramus. The establishment of the Center was made possible through employee donations to The Valley Hospital 2011 Annual Employee Giving Campaign.

For more information, please call the Women’s and Children’s Resource Center at 201-291-6118.

Shown here at the ribbon cutting marking the opening of the Women’s and Children’s Resource Center are (from left to right): Claire Grande, Assistant Vice President, Women’s and Children’s Services; Petra Abdoo-Winterberg, Director, Inpatient Rehabilitation Medicine and Co-Chair of the 2011 Annual Employee Giving Campaign; Deborah Rath, Coordinator of the Women’s and Children’s Resource Center; and Ruth Schulze, M.D., Director of the Department of Gynecology and Obstetrics.

https://www.valleyhealth.com/valley_newsdesc.aspx?newsid=1205

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Ridgewood Chamber of Commerce should not be supporting candidates for the Village council

It is inappropriate for someone who is or was a member, employee, or officer of any group, company, or organization to sign his or her (current or former) title under a letter expressing a strictly personal opinion, especially a political one. Readers can’t be expected to know that the organization is not being officially represented. The letter had the desired effect: to make some people think the Chamber supports a specific candidate.

Our local paper ought to refuse to include such sign-offs unless it confirms that the organization supports the letter. If the letter in question had been signed only by the letter writer’s name, which he had every right to do, nobody would be upset.

I have worked for companies and written letters to the editor on various topics unrelated to my job. I did NOT place my employer’s name at the bottom (or I might appropriately have been reprimanded).

The Chamber of Commerce might consider warning its members and officers that this behavior is not acceptable and will not be tolerated, and should ask the newspaper to run an explanation/sort-of-retraction. What d’you think, Chamber. of Commerce.?