Costs for energy, salaries and benefits drive increases
the staff of the Ridgewood blog
New Brunswick NJ, the Rutgers Board of Governors today approved a $5.4 billion operating budget for the fiscal year that began July 1. The budget is supported in part by a 6 percent increase in tuition and fees for the 2023-2024 academic year, a nearly 7 percent increase for meal plan costs and a 5 percent increase in housing costs for students who reside in Rutgers facilities.
Berlin, Germany, the German energy giant Siemens Energy scrapped its profit guidance in late June, citing a “substantial increase in failure rates of wind turbine components” at its wind division Siemens Gamesa. Leaving a major loss of confidence by investors in the group’s ability to fix its struggling wind turbine division. Siemens Energy stock plunged by around 37% on June 23, while other wind companies also saw shares retreat as investors worried that the problems at Gamesa might be a symptom of a wider issue for the industry.
Q1 real GDP growth at a 1.0% annual rate, half the US average of 2.0%
Personal income grew 5.8% fueled by a spurt in transfer payments, not growth of earnings.
the staff of the Ridgewood blog
Morristown NJ, On June 30th, the U.S. Bureau of Economic Analysis issued its report on the Gross Domestic Product by State and Personal Income by State, 1st Quarter 2023, covering the months of January through March 2023. Dr. Charles Steindel, the former Chief Economist of the State of New Jersey, analyzed the report for the Garden State Initiative:
Trenton NJ, NJBIA today is testifying in support of legislation that would make New Jersey’s corporate tax policies more competitive with other states by changing the way global intangible low-taxed income (GILTI) and net operating losses (NOLs) are treated under state law.
Glassborro NJ, Senator Ed Durr issued the following response after the National Oceanic and Atmospheric Administration (NOAA) determined that the deaths of two humpback whales were caused by vessel strikes off the coast of New York and New Jersey.
Ridgewood NJ, according to the website Upgradepoints the COVID-19 pandemic altered American spending patterns dramatically. In the early days of the pandemic, social distancing and stay-at-home orders resulted in a shift away from transportation, restaurant, and entertainment expenditures. However, consumer spending has since rebounded, and now high inflation has raised the basic cost of living. In addition, rising interest rates are making the cost of borrowing more expensive. While many Americans use credit cards regularly for their rewards and benefits, more people are turning to credit cards for temporary relief as prices continue to rise.
Trenton NJ, Senate Republican Leader Steven Oroho called for the Murphy administration to dedicate pandemic relief funds to the Unemployment Insurance (UI) Fund to prevent $1 billion of cumulative payroll tax increases on New Jersey employers.
Results Repudiate Murphy and His Party Leaders’ Radical Abortion Policies
the staff of the Ridgewood blog
Trenton NJ, New Jersey Right to Life sponsored a Marist Poll that asked specific questions on abortion. The survey of 1,024 New Jersey registered voters was conducted April 10th through April 12th. The poll’s results are listed below.
Atlantic City NJ, April 20, 2018 Governor Phil Murphy “signed into law a bill to protect the Jersey Shore from the potential devastation of offshore drilling. Fast forward 2021 Murphy’ signed and quietly passed new law allowing companies like Orstead to bypass authorities to do work needed for offshore wind project. The new law allows a company to bypass local opposition for offshore wind project.
Michael I. Halfacre, Esq. is the Executive Director of the Beer Wholesalers Association of New Jersey and a former ABC Director.
Trenton NJ, Recently, Governor Murphy announced plans to make liquor licenses cheaper and more available in the Garden State. Specifically, the Governor’s plan would increase licenses by decreasing the population cap, currently set at one on-premise license per 3,000 residents. The Governor’s plan would do this gradually over five years after which there would be no limits on the number of licenses issued in the state. Under Governor Murphy’s plan, after five years, no license could be sold privately, effectively rendering current liquor licenses worthless and crushing their current fair market value. To address this loss, the Governor also proposes a complicated system of tax credits to compensate for the loss of the license value. Unfortunately, a tax credit is worthless when your business does not turn a profit or goes bankrupt and could cost taxpayers billions to fund.
Montville NJ, With dead mammals washing up on New Jersey beaches and with a lack of financial details on the state’s offshore wind farm program, the Ocean First project should be halted until there is legislative oversight of the project said Morris County Commissioner and State Senate candidate Thomas Mastrangelo.
Trenton NJ, as we approach the third anniversary of COVID, the number of world leaders who are admitting they mishandled the pandemic continues to grow.
Bay Head NJ, twelve New Jersey coastal mayors signed a letter calling for immediate stoppage of all offshore wind farm research after another whale was found dead Monday morning.
The whale washed up on Long Island at Lido Beach around 20 miles northeast of Sandy Hook. It’s now the eighth time a whale has been found dead in the region.
photo courtesy of the Marine Mammal Stranding Center
the staff of the Ridgewood blog
Brigantine NJ, after the 7th dead whale washed up in the NJ and NY Wind Farm shore areas and New Jersey bought and paid for “environmental groups” make excuses for Governor Murphy, for the City of Brigantine is demanding a complete stop to all work for offshore wind power until federal and state agencies investigate whether the projects are responsible for a spate of recent whale deaths. City council voted nearly unanimously to approve a resolution calling for the moratorium at Wednesday night’s meeting, with one member Rick Delucry voting to abstain. New Jersey 101.5 reached out to Delucry for comment Thursday. “This resolution isn’t about being for or against ocean wind projects, it’s about our due diligence and getting real scientifically supported facts about the potential impacts that these ocean wind projects could have on whales and other marine life,” Mayor Vince Sera said in a statement. Gov. Phil Murphy last week called the whale deaths “tragic” but said offshore wind projects would not be halted.
Trenton NJ, even the far leftist Monmouth University Poll could find very little to cheer about in in latest “Quality of Government ” poll. Neither Trenton nor Washington is clicking on all cylinders but the federal government scores slightly worse, according to the New Jersey public in a new Monmouth University Poll. Just under half of Garden State residents see politics as a “dirty business” – a view that has increased over the past 15 years. Still, a majority feel they can personally make a difference in solving problems in their local communities and half report having done so.
