The Connected Communicator: Robert Garrett, President and CEO of Hackensack University Medical Center

Written by Molly Gamble | May 29, 2012

Robert C. Garrett has led Hackensack University Medical Center as president and CEO since November 2009. Before assuming his spot at the helm, Mr. Garrett served as HUMC’s executive vice president and COO from 1986 onward, but his tenure with the organization stretches back to 1981. His connections to HUMC have only deepened throughout those 30-plus years. “This is my second family, in a lot of ways,” Mr. Garrett says. “I feel like I’ve grown up with a lot of the people here. We know each other’s families — our kids, and in some instances, grandkids.”

Mr. Garrett’s role and duties have grown in recent months, mostly due to HackensackUMC’s expansion plans and affiliations with other hospitals. He says he often works until 10 or 11 p.m., and there’s been a change to his ordinary hours due to more frequent dinner meetings, presentations and a bit more travel. “We’re a 24/7 operation,” says Mr. Garrett.

Right now, HackensackUMC is planning a $35 million renovation to its Emergency and Trauma Center and recently kicked off a $92 million renovation of the former Pascack Valley Hospital in Westwood, N.J., as part of a joint venture with Plano, Texas-based LHP Hospital Group. The 128-bed hospital, to be renamed HackensackUMC at Pascack Valley, is slated to reopen in mid-2013 after it closed in 2007 after declaring bankruptcy. The hospital was not affiliated with HackensackUMC at the time. HackensackUMC also partnered with LHP to acquire Mountainside Hospital in Montclair, N.J.

https://www.beckershospitalreview.com/hospital-management-administration/the-connected-communicator-robert-garrett-president-and-ceo-of-hackensack-university-medical-center.html

Still No AC at New York Penn Station

Due to an on-going air conditioning problem in the 7th Ave concourse area of NY Penn Station, passengers may want to wait on the 8th Ave side or use PATH service, which is accepting NJT rail tickets/passes from 33rd Street to Hoboken Terminal & NPS only from 4-8 p.m. While regular rail service continues to operate from NY Penn Station, AMTRAK is repairing the problem.

Survey of CFOs finds N.J.’s tax climate is dismal

While New Jersey is home to one of the highest business tax rates in the nation, financial executives attribute the state’s lack of competitiveness in retaining and attracting business to the complexity of its tax system, according to a survey of chief financial officers conducted by Alvarez & Marsal Taxand LLC.

“With competition for corporate headquarters and the jobs that come with them increasing in the face of a challenging economy, it will be interesting to see if states modify their taxing systems in an aggressive attempt to retain contracts and attract new business,” said Don Roveto, managing director at A&M Taxand, in a statement. “When companies look to relocate corporate functions or expand operations, initial credits and incentives may be the most relevant factor from a tax perspective, although the ongoing tax burden must be considered.”  (Eder, NJBIZ)

https://www.njbiz.com/article/20120529/NJBIZ01/120529849/Survey-of-CFOs-finds-NJ%27s-tax-climate-is-dismal

Superior Court Judge Douglas Hurd upholds suspension of pension increases for N.J. public employees

In a victory for Gov. Chris Christie’s pension revisions, a Superior Court judge has ruled that about 800,000 retired public employees are not entitled to increases based on the cost of living.

The ruling by Superior Court Judge Douglas Hurd in Mercer County affects all current and future retirees in pension systems funded by the state, including state workers and judges as well as local police, firefighters and teachers.  (Spoto, The Star-Ledger)

https://www.nj.com/news/index.ssf/2012/05/judge_upholds_suspension_of_pe.html

 

Facebook crashes below $30 in ‘worst IPO in a decade’

Shares in Facebook have dropped below the $30 mark, capping what has been hailed as the most disastrous start to trading of any major flotation in the last decade.

By Katherine Rushton,

The social network has lost more than a fifth of its value since its faltering Wall Street debut on May 18, while its 28-year-old founder Mark Zuckerberg has been honeymooning in Rome. It is now unlikely to recover in the short term, analysts claimed.

After placing at $38, Facebook’s shares briefly peaked at $45 before sinking back to $38.25 on their first day of trading. They have fallen every day since then, and today plummeted nearly 10pc to a low of $28.84 at the close in New York.

https://www.telegraph.co.uk/technology/facebook/9298560/Facebook-crashes-below-30-in-worst-IPO-in-a-decade.html

Cooperative Nursery School of Ridgewood Still Has Openings for 2012-2013 School Year

Looking for a great preschool program for your child this fall?  The Cooperative Nursery School of Ridgewood has openings in several of its classes for the 2012-2013 school year.

The Co-op offers classes for children from 1 ½ to 5 years old, including Kindergarten Enrichment.  The school has both morning and afternoon classes.  There are also a variety of different extended day options available to students, including Discovery Fridays, a program designed to supplement the class curriculum.

The school’s seasoned teaching staff guides students toward social, emotional and physical well-being.  Children learn and play in an environment ideally suited to their needs as developing individuals.  The program encourages independence, self-discipline and a love for school.

Setting the school apart from other nursery schools, The Co-op is organized and run by parents. This enables parents to actively participate in their child’s early learning experience.  Music, physical education, field trips, indoor and outdoor play time and an in-house library are just a few of the experiences to which the children are exposed as supplements to the daily education plans.

For more information or to set up a private tour, please call the school at (201) 447-6232 or email ridgewoodcoop@gmail.com .

Borrowing from Peter to Pay Paul the Village Council Introduces the New Budget
May 30,2012
the staff of the Ridgewood blog.

Ridgewood NJ ,The Village council formally introduced the Village’s $45 million municipal budget with Councilwoman Bernadette Walsh being the only dissenting vote.

In its current form the budget would increase taxes $131 on the average resident.With a home assessed at $794,550, that would mean 3.79 % rate increase in property taxes. Currently no layoffs are planned but $100,000 was shifted from services to potentially keep the library open year-round..

Councilwoman Bernadette Walsh in the lone ‘no’ vote cited her need for more time to analyze the numbers , a disagreement with some of the allocations, and  her own work as a corporate relocation consultant in the real estate industry leaving her with some suspicions of projected tax appeal losses and in her mind  the potential loss of $1 million in the next year .Walsh would not discuss which appropriations she had issues with.

Village officials arrived at a 3.79 percent municipal tax increase instead of the often cited very preliminary  7.6 % number throw around in the past election campaign . About $1 million in cuts came at the expense of virtually all departments with no comment made as to potential loss in services.

The budget also allocates funding toward watershed prevention efforts, street resurfacing and recreation facility improvements,while debt service will be reduced by about $200,000 in 2012.

Storm cleanup costs, reached  $1.2 million. However much of the costs will be reimbursed through FEMA and insurance refunds but the storms  impact on taxpayers in 2012 will still be significant.

Village expense increased 5.5% in health care , 9.75% increase at the tax assessor’s office and 6.4% for police salaries .

Village CFO Steven Sanzari told the Patch that $56 of the $131 increase is directly attributed to storm costs and a loss in property values.

Declining property values nationally as well as in Bergen County have lead to record tax appeals with Village appeals increasing  21%. CFO Sanzari looked to counter Councilwoman Walsh’s objections saying that it takes about six months or longer from appeal filings to refunds issued, which leads to a “lag time”The village is currently facing $40 million in assessed valuation exposure with a total of $6 billion in assessed value. Hanging over the Village’s head is the appeal of Ridgewood’s highest assessed property, the large office building across the Duck Pond.

As Yogi Berra would say It is not over until its over , the council has “some leeway” tweaking the budget and can also continue budget discussions until the June 26 public meeting, where residents can speak on the budget.

Escape From New York? High-Taxing Empire State Loses 3.4 Million Residents in 10 Years
By Elizabeth Harrington

(CNSNews.com) – New York State accounted for the biggest migration exodus of any state in the nation between 2000 and 2010, with 3.4 million residents leaving over that period, according to the Tax Foundation.

Over that decade the state gained 2.1 million, so net migration amounted to 1.3 million, representing a loss of $45.6 billion in income.

Where are they escaping to? The Tax Foundation found that more than 600,000 New York residents moved to Florida over the decade – opting perhaps for the Sunshine State’s more lenient tax system – taking nearly $20 billion in adjusted growth income with them.

https://cnsnews.com/news/article/escape-new-york-high-taxing-empire-state-loses-34-million-residents-10-years

N.J. Senate President Stephen Sweeney planes to unveil framework for university merger

Senate President Stephen Sweeney is preparing to introduce bare-bones legislation to serve as the proposal for merging New Jersey’s medical school with Rutgers University, but first he will meet with lawmakers staunchly opposed to the reorganization, according to several Senate Democrats familiar with the plan.

Sen. Loretta Weinberg, D-Teaneck, said Friday that Sweeney’s proposal is on track to be introduced June 1, and would form the framework of lawmakers’ discussions on how to combine the separate higher education facilities in a far-reaching reorganization that would affect campuses in North and South Jersey.  (Fletcher and Hayes, The Record)

https://www.northjersey.com/news/154356315_Sweeney_will_unveil__merger_framework.html

Democrats, losing ground in Wisconsin, play down recall election
By David Lauter
May 27, 2012, 6:00 a.m.

WASHINGTON — Recent polls have pointed toward a victory for Republican Gov. Scott Walker in Wisconsin’s June 5 recall election. But here’s the clearest evidence to date that national Democratic party officials believe their side is losing: Democratic officials are playing down the potential impact.

Democratic National Committee Chairwoman Rep. Debbie Wasserman Schultz (D-Fla.) insisted in a television interview that a loss for the Democratic candidate in the recall, Milwaukee Mayor Tom Barrett, wouldn’t have any implications for other races, such as the presidential election.

https://www.latimes.com/news/politics/la-pn-democrats-play-down-wisconsin-recall-election-20120526,0,2760222.story