BLAIRSTOWN -- The New Jersey Association of Women Business Owners (NJAWBO) Sussex-Warren Chapter, the state’s leading organization addressing the specific interests of women entrepreneurs, will be holding their monthly breakfast meeting 7:45 a.m. Wednesday, March at the Andover Diner, 193 Main Street, Andover.
This month’s breakfast meeting discussion will focus on employee benefits. Attendees will discuss ways that have been successful for them to acquire and maintain employee benefits for their small business including healthcare, dental, vision and 401ks.
All NJAWBO members, prospective members and guests are welcome. There is no charge for participation in this meeting for members and first time guests. Interested participants may join the NJAWBO group at 7:45 am, leaving as their work day and schedule requires. All women business owners are invited and encouraged to attend the event.
The Sussex-Warren Chapter of NJAWBO meets once a month for a breakfast meeting and one evening a month, rotating venues throughout Sussex and Warren counties. The meetings are both educational and social in nature. For more information, or to join the Sussex-Warren Chapter of NJAWBO, email chapterinfo@njawbosw.org.
The New Jersey Association of Women Business Owners is the oldest statewide organization in New Jersey with a mission to address the concerns and issues of business ownership by women. The organization’s objectives are to encourage and support business ownership by women, enable women business owners to network, provide a legislative voice for the interests of women-owned businesses and provide entrepreneurial training and assistance. Since its founding in 1978, the organization has grown to include 12 chapters across the state. Classes, seminars and informational events are offered to members and aspiring entrepreneurs through NJAWBO and NJAWBO’s Women’s Business Center.
For further information about NJAWBO or NJAWBO’s Women’s Business Center, call the state headquarters at 609-799-5101 or visit http://www.njawbo.org/.
A blog for new jersey internet marketers, business owners with new jersey websites, pictures, and videos.
Sunday, February 28, 2010
In New Jersey, No Consensus on Foreclosure Problem
IN gauging the severity of the foreclosure problem in New Jersey, the experts could hardly be farther apart. Some see the state as relatively unscathed at this point, with the situation about to improve; others see worsening conditions that may turn downright severe.
But then again these same experts are the first to admit that they are handicapped by extremely unreliable information. Real estate market analysts, lawyers, academics, public officials: there are clusters of them on either side of the debate.
“Precise numbers on foreclosures are very elusive,” said James W. Hughes, the dean of the Edward J. Bloustein School of Planning and Public Policy at Rutgers University. But he said he was hearing reports from researchers in the field that foreclosure filings in some county courts were increasing. That trend may pick up steam as federal home-buyer stimulus programs expire, and high-paying jobs continue migrating out of state.
Jeffrey G. Otteau, whose Otteau Valuation Group provides real estate market analysis to the industry, sounded a similar note on the quality of available statistics. “The numbers from the various sources do not square,” was how he put it. Mr. Otteau quoted data from RealtyTrac, a company based in Irvine, Calif., that monitors court filings around the country, in characterizing New Jersey’s current foreclosure rate as very low — just .04 percent of households. He also predicted that foreclosure actions would decline as the overall economy improved. RealtyTrac, a subscriber service, is a primary source of information about distressed properties for investors.
As one of very few sources for up-to-date statistics detailed down to the local level, it also provides data to Congress, the Federal Reserve and the Federal Deposit Insurance Corporation. But its tracking and counting methods have been criticized, not only by Mr. Otteau in New Jersey but also by state officials in Colorado and Georgia, among others.
For instance, in 2008, when RealtyTrac reported that New Jersey’s rate of foreclosures increased 101 percent, Mr. Otteau accused the company of overcounting — in effect listing the same property repeatedly as it moved through the various steps in court. That might include a lender’s initial filing when an owner is 90 days delinquent on payments, as well as transfer of ownership to a lender, and a court-ordered sheriff’s auction.
“All indications are that RealtyTrac has stopped doing that,” Mr. Otteau said last week. “But the accuracy can in no way be positively verified.”
In 2009, according to RealtyTrac’s numbers, the rate of foreclosure filings in New Jersey increased by just 1 percent, to 1.8 percent, which equates to 18 of every 1,000 homeowners, Mr. Otteau noted. Nationally, foreclosures were reported to be up by 21 percent, for a foreclosure rate of 22.1 per 1,000 homeowners.
“That meant New Jersey ranked 39th of 50 states, plus the District of Columbia,” he said, “placing it in the better-of-the-pack.”
Cross-checking RealtyTrac numbers with other statistics often amounts to an “apples and oranges” problem, according to Mr. Otteau and Mr. Hughes. For instance, a report last month by the New Jersey court system estimated the number of foreclosure filings rose 29 percent from 2008. But the number is a raw count, not a calculation of rate.
Still, Mr. Otteau said, it does not jibe with RealtyTrac’s report as best he can tell. Goldie Sommer, a real estate lawyer who specializes in short sales for the firm Sommer & Engelhart in Fairfield, said she had ended up relying on the anecdotal reports of brokers who list properties available for short sale — and on the fact that she is extremely busy — to infer that the number of homeowners facing foreclosure was “bouncing up again.”
Ms. Sommer said she had handled about 250 short sales in the last two years. In her view, the process benefits both sides: the bank can avoid higher court costs, the potential need to evict after foreclosure and the prospect of the low-bidding “sharks” who show up at sheriff’s sales. And borrowers are saved from a damaging credit report, Ms. Sommer said. “Rather than show a foreclosure on a credit report, which takes off 200 points on a person’s credit score,” she said, “with a short sale a person will be able to get another mortgage later on.”
Information on short sales is not published by the state Multiple Listing Services. But the tally of short sales is disclosed to brokers as members of the listing services, and some do try to keep track of trends.
For instance Michael Hawley, of the United Association of Realtors, said that 35 to 40 percent of Essex County homes currently listed in the $300,000-to-$350,000 price range were short sales. At $700,000 and above, he added, 10 to 15 percent of listings are short sales.
An office manager for Weichert in Caldwell estimated that 15 percent of all listings right now were delinquent-mortgage properties; at Unicasa United Realty in Newark, a manager estimated that more than 60 percent of the agency’s listings were for properties whose owners were “underwater,” or owed more than the home was worth.
The short-sale alternative does complicate the calculating of foreclosure rates, Mr. Otteau said, because it means a large proportion of homes fall out of the process before actual foreclosure. He said that was why statisticians usually relied instead on the number of foreclosure filings — even though it too can be suspect, presenting “the potential for another type of miscounting.”
“It’s uneven,” Mr. Otteau said of all the estimates and anecdotes. “We do know that, but again, it’s a general sense of things, not a snapshot.”
But then again these same experts are the first to admit that they are handicapped by extremely unreliable information. Real estate market analysts, lawyers, academics, public officials: there are clusters of them on either side of the debate.
“Precise numbers on foreclosures are very elusive,” said James W. Hughes, the dean of the Edward J. Bloustein School of Planning and Public Policy at Rutgers University. But he said he was hearing reports from researchers in the field that foreclosure filings in some county courts were increasing. That trend may pick up steam as federal home-buyer stimulus programs expire, and high-paying jobs continue migrating out of state.
Jeffrey G. Otteau, whose Otteau Valuation Group provides real estate market analysis to the industry, sounded a similar note on the quality of available statistics. “The numbers from the various sources do not square,” was how he put it. Mr. Otteau quoted data from RealtyTrac, a company based in Irvine, Calif., that monitors court filings around the country, in characterizing New Jersey’s current foreclosure rate as very low — just .04 percent of households. He also predicted that foreclosure actions would decline as the overall economy improved. RealtyTrac, a subscriber service, is a primary source of information about distressed properties for investors.
As one of very few sources for up-to-date statistics detailed down to the local level, it also provides data to Congress, the Federal Reserve and the Federal Deposit Insurance Corporation. But its tracking and counting methods have been criticized, not only by Mr. Otteau in New Jersey but also by state officials in Colorado and Georgia, among others.
For instance, in 2008, when RealtyTrac reported that New Jersey’s rate of foreclosures increased 101 percent, Mr. Otteau accused the company of overcounting — in effect listing the same property repeatedly as it moved through the various steps in court. That might include a lender’s initial filing when an owner is 90 days delinquent on payments, as well as transfer of ownership to a lender, and a court-ordered sheriff’s auction.
“All indications are that RealtyTrac has stopped doing that,” Mr. Otteau said last week. “But the accuracy can in no way be positively verified.”
In 2009, according to RealtyTrac’s numbers, the rate of foreclosure filings in New Jersey increased by just 1 percent, to 1.8 percent, which equates to 18 of every 1,000 homeowners, Mr. Otteau noted. Nationally, foreclosures were reported to be up by 21 percent, for a foreclosure rate of 22.1 per 1,000 homeowners.
“That meant New Jersey ranked 39th of 50 states, plus the District of Columbia,” he said, “placing it in the better-of-the-pack.”
Cross-checking RealtyTrac numbers with other statistics often amounts to an “apples and oranges” problem, according to Mr. Otteau and Mr. Hughes. For instance, a report last month by the New Jersey court system estimated the number of foreclosure filings rose 29 percent from 2008. But the number is a raw count, not a calculation of rate.
Still, Mr. Otteau said, it does not jibe with RealtyTrac’s report as best he can tell. Goldie Sommer, a real estate lawyer who specializes in short sales for the firm Sommer & Engelhart in Fairfield, said she had ended up relying on the anecdotal reports of brokers who list properties available for short sale — and on the fact that she is extremely busy — to infer that the number of homeowners facing foreclosure was “bouncing up again.”
Ms. Sommer said she had handled about 250 short sales in the last two years. In her view, the process benefits both sides: the bank can avoid higher court costs, the potential need to evict after foreclosure and the prospect of the low-bidding “sharks” who show up at sheriff’s sales. And borrowers are saved from a damaging credit report, Ms. Sommer said. “Rather than show a foreclosure on a credit report, which takes off 200 points on a person’s credit score,” she said, “with a short sale a person will be able to get another mortgage later on.”
Information on short sales is not published by the state Multiple Listing Services. But the tally of short sales is disclosed to brokers as members of the listing services, and some do try to keep track of trends.
For instance Michael Hawley, of the United Association of Realtors, said that 35 to 40 percent of Essex County homes currently listed in the $300,000-to-$350,000 price range were short sales. At $700,000 and above, he added, 10 to 15 percent of listings are short sales.
An office manager for Weichert in Caldwell estimated that 15 percent of all listings right now were delinquent-mortgage properties; at Unicasa United Realty in Newark, a manager estimated that more than 60 percent of the agency’s listings were for properties whose owners were “underwater,” or owed more than the home was worth.
The short-sale alternative does complicate the calculating of foreclosure rates, Mr. Otteau said, because it means a large proportion of homes fall out of the process before actual foreclosure. He said that was why statisticians usually relied instead on the number of foreclosure filings — even though it too can be suspect, presenting “the potential for another type of miscounting.”
“It’s uneven,” Mr. Otteau said of all the estimates and anecdotes. “We do know that, but again, it’s a general sense of things, not a snapshot.”
Labels:
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Single Throw Hires Search Specialist
Single Throw Internet Marketing consultants are pleased to welcome brand new Search Specialist Jennifer Piasecki to the Single Throw team.
Single Throw Internet Marketing is thrilled to announce the company’s new Search Specialist, Jennifer Piasecki. Single Throw is one of the nation’s top Internet Marketing companies, popular for its Search Engine Optimization offering. Jennifer will be assisting the company in strategizing Pay-Per-Click campaigns, as well as integrating search engine optimization into the Internet marketing strategies and website development of Single Throw’s many local and national clients, some of which include Bath Fitter, DCH Auto Group and Ray Catena Motor Cars.
Piasecki joins Single Throw with an agency background, where she worked with a variety of different clients and industries. She specialized in search marketing and display advertising, and was most recently in charge of Online Marketing and Public Relations for Global Goddess Beauty and Mindfully21.
“Jennifer has a distinct background in search marketing, which will be an incredible addition to our company. Her knowledge of public relations is an excellent tool, and something that really makes her a standout new employee,” said Larry Bailin, President and CEO of Single Throw.
Piasecki looks at her new position as Single Throw’s Search Specialist as an opportunity to work with some of the most distinguished and knowledgeable professionals in the industry. “I am excited to be working at Single Throw, assisting our clients in reaching their maximum benefit online, while teaming up with some of the brightest minds in the business,” she said.
Single Throw Internet Marketing is thrilled to announce the company’s new Search Specialist, Jennifer Piasecki. Single Throw is one of the nation’s top Internet Marketing companies, popular for its Search Engine Optimization offering. Jennifer will be assisting the company in strategizing Pay-Per-Click campaigns, as well as integrating search engine optimization into the Internet marketing strategies and website development of Single Throw’s many local and national clients, some of which include Bath Fitter, DCH Auto Group and Ray Catena Motor Cars.
Piasecki joins Single Throw with an agency background, where she worked with a variety of different clients and industries. She specialized in search marketing and display advertising, and was most recently in charge of Online Marketing and Public Relations for Global Goddess Beauty and Mindfully21.
“Jennifer has a distinct background in search marketing, which will be an incredible addition to our company. Her knowledge of public relations is an excellent tool, and something that really makes her a standout new employee,” said Larry Bailin, President and CEO of Single Throw.
Piasecki looks at her new position as Single Throw’s Search Specialist as an opportunity to work with some of the most distinguished and knowledgeable professionals in the industry. “I am excited to be working at Single Throw, assisting our clients in reaching their maximum benefit online, while teaming up with some of the brightest minds in the business,” she said.
Thursday, February 25, 2010
Yelp Sued For Offering To Bury Bad Reviews In Exchange For Ads
A California veterinary center has sued review site Yelp for allegedly promising to bury bad reviews in exchange for purchasing $3,600 worth of advertising on the site.
"Yelp frequently exercises its control over the Yelp.com listing application to modify business listing pages to the advantage of businesses that purchase Yelp advertising subscriptions, and the disadvantage of those that decline," Cats and Dogs Animal Hospital owner Gregory Perrault alleges in a complaint (PDF) filed in federal district court in the central district of California.
Cats and Dogs, based in Long Beach, alleges that Yelp violated California's business code. The company is seeking class-action status.
Perrault says in his complaint that his dispute with Yelp stemmed from two "defamatory" reviews that appeared on the site. The posts allegedly included statements like "Dr. Perrault is the rudest vet I've ever been to" and "my poor dog was terrified of him."
Perrault says in his lawsuit that shortly after these reviews appeared, he began receiving "frequent, high-pressure calls from Yelp advertising employees, who promised to manipulate Cats and Dogs' Yelp.com listing page in exchange for Cats and Dogs purchasing an advertising subscription."
Specifically, he alleges that a Yelp sales representative promised to move the reviews to the bottom of its results, ensure that they did not appear in search engine results, and also allow the hospital to decide which order reviews would appear in on Yelp, in exchange for a one-year $300-a-month ad buy.
The lawsuit was filed one year after the East Bay Express reported in an explosive article that some business owners were alleging that Yelp sales representatives offered to bury bad reviews in exchange for ad purchases. Yelp's CEO disputed the allegations.
Santa Clara University law professor Eric Goldman says that it's not clear how far the case will get in court. Even if Cats and Dogs can prove that Yelp's sales representatives promised to remove bad reviews in exchange for ad purchases, it's not clear that such tactics violate California's business code, Goldman says.
On the other hand, he adds, judges might be sympathetic to the business owners who are suing. "The allegations are damning," he says. "I could see a court saying, 'Give me a legal theory and I will find a remedy.'"
A Yelp spokesperson denied the allegations and said the company will fight the lawsuit aggressively. "The allegations are demonstrably false, since many businesses that advertise on Yelp have both negative and positive reviews. These businesses realize that both kinds of feedback provide authenticity and value."
"Yelp frequently exercises its control over the Yelp.com listing application to modify business listing pages to the advantage of businesses that purchase Yelp advertising subscriptions, and the disadvantage of those that decline," Cats and Dogs Animal Hospital owner Gregory Perrault alleges in a complaint (PDF) filed in federal district court in the central district of California.
Cats and Dogs, based in Long Beach, alleges that Yelp violated California's business code. The company is seeking class-action status.
Perrault says in his complaint that his dispute with Yelp stemmed from two "defamatory" reviews that appeared on the site. The posts allegedly included statements like "Dr. Perrault is the rudest vet I've ever been to" and "my poor dog was terrified of him."
Perrault says in his lawsuit that shortly after these reviews appeared, he began receiving "frequent, high-pressure calls from Yelp advertising employees, who promised to manipulate Cats and Dogs' Yelp.com listing page in exchange for Cats and Dogs purchasing an advertising subscription."
Specifically, he alleges that a Yelp sales representative promised to move the reviews to the bottom of its results, ensure that they did not appear in search engine results, and also allow the hospital to decide which order reviews would appear in on Yelp, in exchange for a one-year $300-a-month ad buy.
The lawsuit was filed one year after the East Bay Express reported in an explosive article that some business owners were alleging that Yelp sales representatives offered to bury bad reviews in exchange for ad purchases. Yelp's CEO disputed the allegations.
Santa Clara University law professor Eric Goldman says that it's not clear how far the case will get in court. Even if Cats and Dogs can prove that Yelp's sales representatives promised to remove bad reviews in exchange for ad purchases, it's not clear that such tactics violate California's business code, Goldman says.
On the other hand, he adds, judges might be sympathetic to the business owners who are suing. "The allegations are damning," he says. "I could see a court saying, 'Give me a legal theory and I will find a remedy.'"
A Yelp spokesperson denied the allegations and said the company will fight the lawsuit aggressively. "The allegations are demonstrably false, since many businesses that advertise on Yelp have both negative and positive reviews. These businesses realize that both kinds of feedback provide authenticity and value."
Monday, February 15, 2010
Southern New Jersey Patent Attorney Stuart M. Goldstein Secures approval from the U.S. Patent and Trademark Office ...
Marlton, New Jersey (PRWEB) October 5, 2009 -- Stuart M. Goldstein (http://www.nj-pa-patentattorney.com), partner and founding shareholder of the law firm of Hollstein Keating Cattell Johnson & Goldstein PC, has been successful in securing approval from the U.S. Patent and Trademark Office for a new revolutionary patent (http://www.nj-pa-patentattorney.com) that overcomes the limitations and disadvantages of prior supercharger control systems - efficiently, easily, effectively.
The new invention by Billy Machner of Browns Mills, New Jersey, addresses the problems that plague most current superchargers. A supercharger is installed on a vehicle internal combustion engine to provide air at high pressure into the engine's intake manifolds. Added high-pressure air increases engine horsepower. However, since most superchargers are driven by the engine, the engine has to work harder to operate the supercharger. As a result, engine efficiency is reduced and more fuel is consumed. There are more emissions and more wear on engine components. Simply put, that means added expense for fuel and parts, as well as an increased negative impact on the environment.
Machner's supercharger control system is a compact, solid mount unit that is easily installed on an engine's existing crankshaft by a supercharger clutch assembly. The supercharger control system directs the operation of the vehicle's supercharger, allowing the driver to simply and efficiently switch the supercharger on or off. When the supercharger is not needed, the driver can switch it off - the clutch assembly is disconnected to stop the operation of the supercharger. The driver can easily switch it on when opting to obtain high-speed performance. This on/off process helps, over the long run, to increase fuel efficiency, limit exhaust emissions, and reduce wear on the engine, crankshaft and other engine components, including the supercharger itself, by keeping cool when disconnected.
Retrofitted into aftermarket vehicles with superchargers or offered as standard or optional equipment with new production vehicles, this supercharger control system offers a wealth of practical marketing opportunities.
It is through Mr. Goldstein's expertise in matters involving a variety of industrial and consumer products as well as equipment and systems within the mechanical, electrical, and marine disciplines that make him the patent attorney clients seek out in order to receive patent protection for their creative products and improvements.
Mr. Goldstein oversees Hollstein Keating's southern New Jersey office's Intellectual Property Department, specializing in patent and trademark law. Mr. Goldstein's solid background, experience, and technical knowledge in the mechanical, electrical-mechanical, and marine arts began with his B.S. in Marine Engineering from the United States Merchant Marine Academy at Kings Point, New York in 1972. For six years, he worked as a patent examiner in the U.S. Patent and Trademark Office in Washington, D.C., attaining primary examiner status. Since 1978, he has been registered to practice before the U.S. Patent and Trademark Office as a patent attorney (Registration #22817), handling patent application prosecution and related litigation.
As a specialist in the patent field, Mr. Goldstein advises manufacturers, businesses, and individuals on product design, development, and integrity, guiding them efficiently through the complex patent approval process. Says Mr. Goldstein, "If it is new and useful, if it can be made, if it has potential value, it should be patented. When you are looking to protect your original invention or improvement on existing technology, when you are looking to secure intellectual property ownership rights, when you are looking to safeguard future commercial success, the goal is to protect your patent ownership rights. Over the years, I have seen the consequences of not obtaining patent protection (http://www.nj-pa-patentattorney.com), of opportunities lost, and the loss of investment, time, energy, marketing possibilities and ownership. With patent protection, your creative product or improvement becomes your exclusive property. And the rewards that come with it can be enormous."
Mr. Goldstein's representative patent areas include all types of mechanical and electrical products and improvements, methods and systems: for example, construction tools and equipment, cleaning tools and appliances, electrical lighting and switches, household appliances, plumbing and electrical tools, appliances and related equipment, hardware and gardening tools, conveyor systems, automotive products and accessories, vessel and marine-related products and systems, recreational and leisure-related products, and medical devices and appliances.
Among the newest technical patents that have received patent approval through Mr. Goldstein's professional guidance are the Chair Storage Rack (U.S. Pat. No, 7,578,400), which allows for the simple and efficient storage of beach chairs and beach accessories, and the Adjustable Fishing Rod Holder (U.S. Pat. No. 7,559,171), allowing the fishing rods of anglers and fishermen to be maintained in place in a variety of pre-selected fishing angles. The Bow Mounted Vessel Propulsion System (U.S. Pat. No. 7,096,810), which is a practical, effective, and efficient vessel propulsion system that addresses the limitations of prior propulsion systems, by reducing hull surface drag, enhancing fuel efficiency, and increasing vessel speed and maneuverability. The Conduit Rack Electrical Junction Box (U.S. Pat. No. 7,022,912) provides for a more efficient installation and use in suspended conduit racks. Invented by a licensed electrician for use within the construction industry, this invention accepts runs of protective conduit in conduit rack systems without interfering with the horizontal run of the conduit. This improvement eliminates the need for bending runs of conduit, saving time, material costs and labor. The Bimini Twist Jig (U.S. Pat. No. 7,011,346) offers a simple, easy to use product that always results in the tying of a perfect Bimini twist - considered to be the most important knot in fishing. The Eyeglass Display and Demonstration System (U.S. Pat. No. 6,988,799) is a convenient and practical system that allows the eyeglass wearer to visualize how a given pair of glasses will actually look with any given lens shape and tint before the lenses are fitted in the frames.
For additional information, contact Angela Forte, Office Administrator at 856.810.8860. Hollstein Keating Cattell Johnson & Goldstein PC is a full service civil litigation firm with expertise in all aspects of property, casualty, and commercial matters. Hollstein Keating represents a wide range of clients with nationwide legal concerns - individuals, corporations, businesses, and Fortune 500 companies concentrated throughout the Northeast, specifically in Pennsylvania, New Jersey, Delaware, and New York. Their practice areas include casualty, commercial litigation, environmental, insurance coverage, maritime law, mass and toxic tort, patent and trademark law, products liability, sports and recreational law, and subrogation.
About Hollstein Keating Cattell Johnson & Goldstein PC
Hollstein Keating Cattell Johnson & Goldstein PC (http://www.hollsteinkeating.com) is a full service civil litigation firm with expertise in all aspects of property, casualty, and commercial matters. Hollstein Keating represents a wide range of clients with nationwide legal concerns - individuals, corporations, businesses, and Fortune 500 companies concentrated throughout the Northeast, specifically in Pennsylvania, New Jersey, Delaware, and New York. Their practice areas include casualty, commercial litigation, environmental, insurance coverage, maritime law, mass and toxic tort, patent and trademark law, products liability, sports and recreational law, and subrogation.
Websites:
http://www.nj-pa-patentattorney.com
http://www.hollsteinkeating.com
###
The new invention by Billy Machner of Browns Mills, New Jersey, addresses the problems that plague most current superchargers. A supercharger is installed on a vehicle internal combustion engine to provide air at high pressure into the engine's intake manifolds. Added high-pressure air increases engine horsepower. However, since most superchargers are driven by the engine, the engine has to work harder to operate the supercharger. As a result, engine efficiency is reduced and more fuel is consumed. There are more emissions and more wear on engine components. Simply put, that means added expense for fuel and parts, as well as an increased negative impact on the environment.
Machner's supercharger control system is a compact, solid mount unit that is easily installed on an engine's existing crankshaft by a supercharger clutch assembly. The supercharger control system directs the operation of the vehicle's supercharger, allowing the driver to simply and efficiently switch the supercharger on or off. When the supercharger is not needed, the driver can switch it off - the clutch assembly is disconnected to stop the operation of the supercharger. The driver can easily switch it on when opting to obtain high-speed performance. This on/off process helps, over the long run, to increase fuel efficiency, limit exhaust emissions, and reduce wear on the engine, crankshaft and other engine components, including the supercharger itself, by keeping cool when disconnected.
Retrofitted into aftermarket vehicles with superchargers or offered as standard or optional equipment with new production vehicles, this supercharger control system offers a wealth of practical marketing opportunities.
It is through Mr. Goldstein's expertise in matters involving a variety of industrial and consumer products as well as equipment and systems within the mechanical, electrical, and marine disciplines that make him the patent attorney clients seek out in order to receive patent protection for their creative products and improvements.
Mr. Goldstein oversees Hollstein Keating's southern New Jersey office's Intellectual Property Department, specializing in patent and trademark law. Mr. Goldstein's solid background, experience, and technical knowledge in the mechanical, electrical-mechanical, and marine arts began with his B.S. in Marine Engineering from the United States Merchant Marine Academy at Kings Point, New York in 1972. For six years, he worked as a patent examiner in the U.S. Patent and Trademark Office in Washington, D.C., attaining primary examiner status. Since 1978, he has been registered to practice before the U.S. Patent and Trademark Office as a patent attorney (Registration #22817), handling patent application prosecution and related litigation.
As a specialist in the patent field, Mr. Goldstein advises manufacturers, businesses, and individuals on product design, development, and integrity, guiding them efficiently through the complex patent approval process. Says Mr. Goldstein, "If it is new and useful, if it can be made, if it has potential value, it should be patented. When you are looking to protect your original invention or improvement on existing technology, when you are looking to secure intellectual property ownership rights, when you are looking to safeguard future commercial success, the goal is to protect your patent ownership rights. Over the years, I have seen the consequences of not obtaining patent protection (http://www.nj-pa-patentattorney.com), of opportunities lost, and the loss of investment, time, energy, marketing possibilities and ownership. With patent protection, your creative product or improvement becomes your exclusive property. And the rewards that come with it can be enormous."
Mr. Goldstein's representative patent areas include all types of mechanical and electrical products and improvements, methods and systems: for example, construction tools and equipment, cleaning tools and appliances, electrical lighting and switches, household appliances, plumbing and electrical tools, appliances and related equipment, hardware and gardening tools, conveyor systems, automotive products and accessories, vessel and marine-related products and systems, recreational and leisure-related products, and medical devices and appliances.
Among the newest technical patents that have received patent approval through Mr. Goldstein's professional guidance are the Chair Storage Rack (U.S. Pat. No, 7,578,400), which allows for the simple and efficient storage of beach chairs and beach accessories, and the Adjustable Fishing Rod Holder (U.S. Pat. No. 7,559,171), allowing the fishing rods of anglers and fishermen to be maintained in place in a variety of pre-selected fishing angles. The Bow Mounted Vessel Propulsion System (U.S. Pat. No. 7,096,810), which is a practical, effective, and efficient vessel propulsion system that addresses the limitations of prior propulsion systems, by reducing hull surface drag, enhancing fuel efficiency, and increasing vessel speed and maneuverability. The Conduit Rack Electrical Junction Box (U.S. Pat. No. 7,022,912) provides for a more efficient installation and use in suspended conduit racks. Invented by a licensed electrician for use within the construction industry, this invention accepts runs of protective conduit in conduit rack systems without interfering with the horizontal run of the conduit. This improvement eliminates the need for bending runs of conduit, saving time, material costs and labor. The Bimini Twist Jig (U.S. Pat. No. 7,011,346) offers a simple, easy to use product that always results in the tying of a perfect Bimini twist - considered to be the most important knot in fishing. The Eyeglass Display and Demonstration System (U.S. Pat. No. 6,988,799) is a convenient and practical system that allows the eyeglass wearer to visualize how a given pair of glasses will actually look with any given lens shape and tint before the lenses are fitted in the frames.
For additional information, contact Angela Forte, Office Administrator at 856.810.8860. Hollstein Keating Cattell Johnson & Goldstein PC is a full service civil litigation firm with expertise in all aspects of property, casualty, and commercial matters. Hollstein Keating represents a wide range of clients with nationwide legal concerns - individuals, corporations, businesses, and Fortune 500 companies concentrated throughout the Northeast, specifically in Pennsylvania, New Jersey, Delaware, and New York. Their practice areas include casualty, commercial litigation, environmental, insurance coverage, maritime law, mass and toxic tort, patent and trademark law, products liability, sports and recreational law, and subrogation.
About Hollstein Keating Cattell Johnson & Goldstein PC
Hollstein Keating Cattell Johnson & Goldstein PC (http://www.hollsteinkeating.com) is a full service civil litigation firm with expertise in all aspects of property, casualty, and commercial matters. Hollstein Keating represents a wide range of clients with nationwide legal concerns - individuals, corporations, businesses, and Fortune 500 companies concentrated throughout the Northeast, specifically in Pennsylvania, New Jersey, Delaware, and New York. Their practice areas include casualty, commercial litigation, environmental, insurance coverage, maritime law, mass and toxic tort, patent and trademark law, products liability, sports and recreational law, and subrogation.
Websites:
http://www.nj-pa-patentattorney.com
http://www.hollsteinkeating.com
###
Labels:
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Monday, February 8, 2010
Free Business Symposium to Bolster Monmouth & Ocean County Year-Round Tourism
For Immediate Release
Contact:
Robert Hilton
Executive Director
Jersey Shore Convention & Visitors Bureau
Tel: 732.337.7061
robertjhilton@aol.com
BUSINESSES OF ALL SECTORS UNITING TO SHOWCASE A SHORE FOR ALL SEASONS
Free February 12 Symposium to launch “A Partnership for Success” to promote year-round tourism in Monmouth and Ocean Counties
Freehold, NJ – February 8, 2010 – Drawing from nearly every business sector – from hotels, restaurants and seaside arcades to commercial laundries, restaurant supply houses and local markets – a new business force is rising like high tide and launching a wave to showcase Monmouth and Ocean counties as a shore for all seasons.
“A Partnership for Success” is the powerful idea behind the newly organized Jersey Shore Convention and Visitors Bureau (JSCVB) and its 2010 Symposium scheduled for February 12 at the Hilton Garden Inn in Lakewood, beginning at 8:30 a.m. The JSCVB is supported by a joint effort of the Monmouth County and Ocean County departments of tourism created to foster a coordinated partnership between government and the wide variety of businesses in both counties impacted by tourism. The symposium is being co-hosted by the MODC Cultural & Tourism Committee.
The symposium will allow businesses, as well as local chambers of commerce and government bodies, to learn about the benefits of the $100 membership in the JSCVB, which include preferred treatment on the web site; priority consideration for inclusion in press and travel trade tours; priority consideration for reference in press releases and marketing campaigns; representation at consumer and travel expositions; and advocacy through the NJ Travel Industry Association and the U.S. Travel Association.
“We are a destination marketing organization and our goal is to market the Jersey Shore,” said Robert Hilton, executive director of the JSCVB. “With the economy the way it is today, the greatest challenge is letting people know what’s going on in this region. People can’t advertise individually the way they did before. We have the ability to advertise, get to trade shows, put information on the Internet and reach people to tell them what’s happening year-round. Individually, businesses don’t have the budget to do all that.”
For example, the JSCVB soon will be launching a $35,000, five-week media marketing campaign using radio station WPLJ that will promote local activities and drive consumers to www.visitthejerseyshore.com.
“Tourism makes a vital contribution to the social and economic well-being of the region,” said Jeanne DeYoung, director of tourism for Monmouth County, who noted that each visitor spends nearly $550 and creates $64 in state and local tax revenue and that every 160 visitors creates one job and $240 in wages. “Tourism is an economic engine that provides jobs, builds interest in the environment and maintains the economic viability of many local businesses.”
Barbara Steele, director of public affairs and tourism for Ocean County, added, “This symposium will be an opportunity to network. It will provide nuts and bolts information about the resources and support that are available to anybody who has tourism dollars flowing through their business or organization, either directly or indirectly.”
That brush paints a very wide stroke, according to Hilton. While many business sectors benefiting from tourism are obvious – such as hotels, motels and bed and breakfasts; restaurants; seaside entertainment and shopping outlets – others are less apparent, he said. They can include such disparate businesses as commercial laundries and restaurant supply houses; non-traditional shore entertainment venues for rainy days; local markets and convenience stores that enjoy greater foot-traffic when tourism increases; contractors and construction companies; business services firms; and many others, he said.
The JSCVB already boasts an impressive membership list, including Monmouth Park Racetrack, Six Flags Great Adventure, the Molly Pitcher Inn and the Count Basie Theater in Red Bank, Jenkinson’s Pavilion in Point Pleasant, Seastreak Ferry and Seaside Heights. However, the JSCVB is not just for large businesses, DeYoung stresses.
“In the current challenging economy, the JSCVB offers an additional outlet for businesses, large and small alike, to access a customer base through cooperative marketing and partnerships year-round that perhaps would not be accessible to them on their own,” she said.
Hilton added, “The local food market, pharmacist or hardware store may never have felt a need to advertise to out-of-town travelers, but when more people visit the region, they have more customers. Tourism benefits all of us. When people come to the Jersey Shore it creates revenue, it generates taxes and keeps property taxes down. It raises all boats.”
The Jersey Shore CVB 2010 Symposium – Tourism & Business / A Partnership for Success will be held Friday, February 12 at the Hilton Garden Inn at 1885 Route 70, Lakewood. Networking and a continental breakfast begin at 8:30 a.m., with the program starting at 9:00 a.m. There is no charge to attend.
To register for the symposium, contact the Jersey Shore Convention and Visitors Bureau by phone at 732-303-5984, fax at 732-845-0412 or email at director@visitthejerseyshore.com.
What:
The Jersey Shore CVB 2010 Symposium
Tourism & Business - “A Partnership for Success”
A panel discussion about the Jersey Shore Convention and Visitors Bureau, its activities to promote year-round tourism for Monmouth and Ocean counties and the benefits of membership.
Where:
Hilton Garden Inn
1885 Route 70, Lakewood
When:
Friday – February 12
Networking and Continental Breakfast - 8:30 a.m.
Program - 9:00-11:00 a.m.
How:
To Register:
Call 732-303-5984
Fax 732-845-0412
Email director@visitthejerseyshore.com
There is no charge to attend the symposium
Contact:
Robert Hilton
Executive Director
Jersey Shore Convention & Visitors Bureau
Tel: 732.337.7061
robertjhilton@aol.com
BUSINESSES OF ALL SECTORS UNITING TO SHOWCASE A SHORE FOR ALL SEASONS
Free February 12 Symposium to launch “A Partnership for Success” to promote year-round tourism in Monmouth and Ocean Counties
Freehold, NJ – February 8, 2010 – Drawing from nearly every business sector – from hotels, restaurants and seaside arcades to commercial laundries, restaurant supply houses and local markets – a new business force is rising like high tide and launching a wave to showcase Monmouth and Ocean counties as a shore for all seasons.
“A Partnership for Success” is the powerful idea behind the newly organized Jersey Shore Convention and Visitors Bureau (JSCVB) and its 2010 Symposium scheduled for February 12 at the Hilton Garden Inn in Lakewood, beginning at 8:30 a.m. The JSCVB is supported by a joint effort of the Monmouth County and Ocean County departments of tourism created to foster a coordinated partnership between government and the wide variety of businesses in both counties impacted by tourism. The symposium is being co-hosted by the MODC Cultural & Tourism Committee.
The symposium will allow businesses, as well as local chambers of commerce and government bodies, to learn about the benefits of the $100 membership in the JSCVB, which include preferred treatment on the web site; priority consideration for inclusion in press and travel trade tours; priority consideration for reference in press releases and marketing campaigns; representation at consumer and travel expositions; and advocacy through the NJ Travel Industry Association and the U.S. Travel Association.
“We are a destination marketing organization and our goal is to market the Jersey Shore,” said Robert Hilton, executive director of the JSCVB. “With the economy the way it is today, the greatest challenge is letting people know what’s going on in this region. People can’t advertise individually the way they did before. We have the ability to advertise, get to trade shows, put information on the Internet and reach people to tell them what’s happening year-round. Individually, businesses don’t have the budget to do all that.”
For example, the JSCVB soon will be launching a $35,000, five-week media marketing campaign using radio station WPLJ that will promote local activities and drive consumers to www.visitthejerseyshore.com.
“Tourism makes a vital contribution to the social and economic well-being of the region,” said Jeanne DeYoung, director of tourism for Monmouth County, who noted that each visitor spends nearly $550 and creates $64 in state and local tax revenue and that every 160 visitors creates one job and $240 in wages. “Tourism is an economic engine that provides jobs, builds interest in the environment and maintains the economic viability of many local businesses.”
Barbara Steele, director of public affairs and tourism for Ocean County, added, “This symposium will be an opportunity to network. It will provide nuts and bolts information about the resources and support that are available to anybody who has tourism dollars flowing through their business or organization, either directly or indirectly.”
That brush paints a very wide stroke, according to Hilton. While many business sectors benefiting from tourism are obvious – such as hotels, motels and bed and breakfasts; restaurants; seaside entertainment and shopping outlets – others are less apparent, he said. They can include such disparate businesses as commercial laundries and restaurant supply houses; non-traditional shore entertainment venues for rainy days; local markets and convenience stores that enjoy greater foot-traffic when tourism increases; contractors and construction companies; business services firms; and many others, he said.
The JSCVB already boasts an impressive membership list, including Monmouth Park Racetrack, Six Flags Great Adventure, the Molly Pitcher Inn and the Count Basie Theater in Red Bank, Jenkinson’s Pavilion in Point Pleasant, Seastreak Ferry and Seaside Heights. However, the JSCVB is not just for large businesses, DeYoung stresses.
“In the current challenging economy, the JSCVB offers an additional outlet for businesses, large and small alike, to access a customer base through cooperative marketing and partnerships year-round that perhaps would not be accessible to them on their own,” she said.
Hilton added, “The local food market, pharmacist or hardware store may never have felt a need to advertise to out-of-town travelers, but when more people visit the region, they have more customers. Tourism benefits all of us. When people come to the Jersey Shore it creates revenue, it generates taxes and keeps property taxes down. It raises all boats.”
The Jersey Shore CVB 2010 Symposium – Tourism & Business / A Partnership for Success will be held Friday, February 12 at the Hilton Garden Inn at 1885 Route 70, Lakewood. Networking and a continental breakfast begin at 8:30 a.m., with the program starting at 9:00 a.m. There is no charge to attend.
To register for the symposium, contact the Jersey Shore Convention and Visitors Bureau by phone at 732-303-5984, fax at 732-845-0412 or email at director@visitthejerseyshore.com.
What:
The Jersey Shore CVB 2010 Symposium
Tourism & Business - “A Partnership for Success”
A panel discussion about the Jersey Shore Convention and Visitors Bureau, its activities to promote year-round tourism for Monmouth and Ocean counties and the benefits of membership.
Where:
Hilton Garden Inn
1885 Route 70, Lakewood
When:
Friday – February 12
Networking and Continental Breakfast - 8:30 a.m.
Program - 9:00-11:00 a.m.
How:
To Register:
Call 732-303-5984
Fax 732-845-0412
Email director@visitthejerseyshore.com
There is no charge to attend the symposium
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Forrester: Social Media, Web Spend Up, TV Down
A new Forrester Research/Association of National Advertisers survey says TV marketers plan to spend 41% of their media budgets on television in 2010 -- the same level as a year ago.
Still, this was down from the 58% level of two years ago. The survey says this illustrates a continued lack of confidence in the effectiveness of television ads.
The survey looked at 104 U.S. advertisers in 21 industries representing nearly $14 billion in measured media budgets. It included companies such as Cisco Systems, GlaxoSmithKline, ING, Kraft, Marriott, State Farm and Clorox.
Some 62% percent of companies say TV ads have become less effective in the past two years due to increased advertising clutter. Worse still, virtually all advertisers believe the TV industry needs new audience metrics beyond reach and frequency; 82% of respondents would be interested in ratings for individual commercials.
But one sign that has turned around for TV marketers: The expectant lifespan of the 30-second commercial. Now, 19% say the 30-second spot will be dead in 10 years. This is down from 28% a year ago.
The future of addressable advertising is showing some mixed signals. While 78% are interested in targeting consumers more precisely, only 59% would be willing to pay a premium for it.
Future branded entertainment deals will grow, according to 80% of advertisers. And in 2010, 38% say they will spend more on branded entertainment as an alternative to the 30-second commercial.
Social media, Web advertising and search are stealing budgets from TV and other media. Of those surveyed, 77% said they would be moving TV dollars to social media this year; 73% plan to shift money to online advertising, and 59% will be spending more on search-engine marketing and 46% on e-mail marketing.
Other non-TV traditional media doesn't seem to be part of this trend. Only 15% said they plan to increase spending in traditional media such as radio, outdoor, magazines or newspapers.
"CMOs need to prepare for television's digital future by forcing change upon the TV advertising ecosystem," said David Cooperstein, vice president and research director of Forrester Research.
"We recommend that advertisers get ready for the future of television by preparing to deliver targeted commercials, delivering true branded entertainment experiences and embracing the connected TV."
The survey findings will be presented at the ANA's "TV and Everything Video Forum" on Feb. 11 in New York.
Still, this was down from the 58% level of two years ago. The survey says this illustrates a continued lack of confidence in the effectiveness of television ads.
The survey looked at 104 U.S. advertisers in 21 industries representing nearly $14 billion in measured media budgets. It included companies such as Cisco Systems, GlaxoSmithKline, ING, Kraft, Marriott, State Farm and Clorox.
Some 62% percent of companies say TV ads have become less effective in the past two years due to increased advertising clutter. Worse still, virtually all advertisers believe the TV industry needs new audience metrics beyond reach and frequency; 82% of respondents would be interested in ratings for individual commercials.
But one sign that has turned around for TV marketers: The expectant lifespan of the 30-second commercial. Now, 19% say the 30-second spot will be dead in 10 years. This is down from 28% a year ago.
The future of addressable advertising is showing some mixed signals. While 78% are interested in targeting consumers more precisely, only 59% would be willing to pay a premium for it.
Future branded entertainment deals will grow, according to 80% of advertisers. And in 2010, 38% say they will spend more on branded entertainment as an alternative to the 30-second commercial.
Social media, Web advertising and search are stealing budgets from TV and other media. Of those surveyed, 77% said they would be moving TV dollars to social media this year; 73% plan to shift money to online advertising, and 59% will be spending more on search-engine marketing and 46% on e-mail marketing.
Other non-TV traditional media doesn't seem to be part of this trend. Only 15% said they plan to increase spending in traditional media such as radio, outdoor, magazines or newspapers.
"CMOs need to prepare for television's digital future by forcing change upon the TV advertising ecosystem," said David Cooperstein, vice president and research director of Forrester Research.
"We recommend that advertisers get ready for the future of television by preparing to deliver targeted commercials, delivering true branded entertainment experiences and embracing the connected TV."
The survey findings will be presented at the ANA's "TV and Everything Video Forum" on Feb. 11 in New York.
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Friday, February 5, 2010
Top Information Technology Predictions
Gartner continues to investigate the changing balance of power from across its research areas, and selects Internet Technologies as the focus of this year's crystal ball gazing.
Here's our future according to Gartner:
• By 2012, 20% percent of businesses will have no ownership of IT assets. Fueled by technological developments in 2009, such as virtualization and cloud computing, there's a movement toward decreased IT hardware assets and more ownership of hardware by third parties.
• By 2012, India-based IT companies will represent 20% of cloud service providers in the market. Gartner attributes this to companies leveraging their market positions and R&D efforts in cloud computing, resulting in cloud-enabled outsourcing options.
• By 2012, Facebook will lead the pack in developing the distributed, interoperable social Web through Facebook Connect and similar mechanisms. The interoperability will be critical to survival of other social networks.
• Other social networks (including Twitter) will continue to develop with focus on greater adoption and specialization. However, they will all revolve around Facebook.
• By 2014, building on server vitalization and desktop power management as savings in energy costs, more organizations will be driven by the need to be responsible for carbon dioxide emissions and will include carbon costs in business cases. Vendors will have to provide carbon lifecycle statistics for their products.
• In 2012, 60% of a new PCs total life greenhouse gas emissions will have occurred before the user first turns it on. In its lifetime, a typical PC consumes 10 times its own weight in fossil fuels, but around 80% of a PC's total energy usage occurs during production and transportation. Buyers will be paying more attention to eco labels.
• Online marketing by 2015 will control more than US$ 250 billion in Internet marketing spending worldwide.
• By 2014, mobile and Internet technology will help over 3 billion of the world's adults to electronically transact. Emerging economies will see increase in mobile and Internet adoption through 2014. Worldwide mobile penetration rate will get to 90%.
• By 2013, mobile phones will replace PCs as the most common device for Web access.
Here's our future according to Gartner:
• By 2012, 20% percent of businesses will have no ownership of IT assets. Fueled by technological developments in 2009, such as virtualization and cloud computing, there's a movement toward decreased IT hardware assets and more ownership of hardware by third parties.
• By 2012, India-based IT companies will represent 20% of cloud service providers in the market. Gartner attributes this to companies leveraging their market positions and R&D efforts in cloud computing, resulting in cloud-enabled outsourcing options.
• By 2012, Facebook will lead the pack in developing the distributed, interoperable social Web through Facebook Connect and similar mechanisms. The interoperability will be critical to survival of other social networks.
• Other social networks (including Twitter) will continue to develop with focus on greater adoption and specialization. However, they will all revolve around Facebook.
• By 2014, building on server vitalization and desktop power management as savings in energy costs, more organizations will be driven by the need to be responsible for carbon dioxide emissions and will include carbon costs in business cases. Vendors will have to provide carbon lifecycle statistics for their products.
• In 2012, 60% of a new PCs total life greenhouse gas emissions will have occurred before the user first turns it on. In its lifetime, a typical PC consumes 10 times its own weight in fossil fuels, but around 80% of a PC's total energy usage occurs during production and transportation. Buyers will be paying more attention to eco labels.
• Online marketing by 2015 will control more than US$ 250 billion in Internet marketing spending worldwide.
• By 2014, mobile and Internet technology will help over 3 billion of the world's adults to electronically transact. Emerging economies will see increase in mobile and Internet adoption through 2014. Worldwide mobile penetration rate will get to 90%.
• By 2013, mobile phones will replace PCs as the most common device for Web access.
Labels:
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Pa. businessman admits bribing NJ labor inspector
The owner of a Philadelphia-based temporary labor firm has admitted bribing a senior investigator in the New Jersey Labor Department.
The U.S. Attorney's Office announced Thursday that Channavel "Danny" Kong of Philadelphia pleaded guilty Feb. 2 to bribery and failure to pay employment taxes.
The 38-year-old Kong remains free on bond pending his May 28 sentencing.
He owned Sunrise Labor, a company that provided temporary employees to businesses and usually assumed responsibility for withholding and paying state and federal payroll taxes.
Kong admitted that from 2006 through January 2009 he paid more than $55,000 to labor investigator Joseph Rivera to protect the company from state audits. Rivera pleaded guilty in March 2009 to accepting bribes.
The U.S. Attorney's Office announced Thursday that Channavel "Danny" Kong of Philadelphia pleaded guilty Feb. 2 to bribery and failure to pay employment taxes.
The 38-year-old Kong remains free on bond pending his May 28 sentencing.
He owned Sunrise Labor, a company that provided temporary employees to businesses and usually assumed responsibility for withholding and paying state and federal payroll taxes.
Kong admitted that from 2006 through January 2009 he paid more than $55,000 to labor investigator Joseph Rivera to protect the company from state audits. Rivera pleaded guilty in March 2009 to accepting bribes.
Labels:
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new jersey,
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nj
Bancorp of New Jersey, Inc. Announces Record Earnings
FORT LEE, N.J., Feb. 4, 2010 (GLOBE NEWSWIRE) -- Bancorp of New Jersey, Inc. (NYSE Amex:BKJ), holding company for Bank of New Jersey, reported record annual and fourth quarter net income. For the year ended December 31, 2009, net income reached $1.3 million, or $0.25 per diluted share, compared to $527 thousand, or $0.10 per diluted share, for the year ended December 31, 2008. For the quarter ended December 31, 2009, net income reached a fourth quarter record level of $435 thousand, or $0.08 per diluted share, compared to $174 thousand, or $0.03 per diluted share, for the quarter ended December 31, 2008. The net income generated during each of these periods represents the highest net income ever achieved by the Company during these respective periods and continues the Company's profitability.
During the year ended December 31, 2009, net interest income increased by 38.3% and exceeded $9.5 million compared to approximately $6.9 million for the year ended December 31, 2008. For the quarter ended December 31, 2009, net interest income reached $2.7 million, an increase of approximately $800 thousand, or approximately 44.7%, over the $1.9 million of net interest income earned during the fourth quarter of 2008. These increases are reflective of management's focus on and success improving its net interest income during periods of falling interest rates. As a result of improved net interest income, the company was able to absorb increases in noninterest expense as a result of increased FDIC insurance expense, the impact of the FDIC special assessment during the year, and increased costs associated with continued branch expansion during 2009.
Bancorp of New Jersey's total assets grew by approximately 5.1% to $319.6 million at December 31, 2009 compared to $304.1 million at December 31, 2008. The Company also experienced continued growth in its loans, deposits, and equity as well. Total loans reached $263.9 million at December 31, 2009 compared to $234.9 million at December 31, 2008, an increase of $29.0 million, or 12.3%. Total deposits increased to $267.1 million at December 31, 2009 from $254.0 million at December 31, 2008, an increase of $13.1 million, or 5.2%. Stockholders' equity grew to $49.5 million at December 31, 2009 from $47.9 million at December 31, 2008, reflecting an increase of $1.7 million, or 3.5%. The increase in equity is net of the effect of the 30 cent per share special cash dividend which was declared during 2009 and totaled approximately $1.5 million.
Bank of New Jersey, headquartered at 1365 Palisade Avenue, Fort Lee, New Jersey, offers convenient hours and a high level of service for traditional consumer and commercial products and services. The Bank, currently, has 6 branch offices located in Fort Lee (3 locations), Hackensack, Haworth, and Harrington Park, all in Bergen County, NJ. A seventh location in Englewood, NJ, has received regulatory approvals and is expected to open during the summer of 2010.
For more information about Bank of New Jersey and its products and services, please visit http://www.bonj.net or call 201-944-8600.
During the year ended December 31, 2009, net interest income increased by 38.3% and exceeded $9.5 million compared to approximately $6.9 million for the year ended December 31, 2008. For the quarter ended December 31, 2009, net interest income reached $2.7 million, an increase of approximately $800 thousand, or approximately 44.7%, over the $1.9 million of net interest income earned during the fourth quarter of 2008. These increases are reflective of management's focus on and success improving its net interest income during periods of falling interest rates. As a result of improved net interest income, the company was able to absorb increases in noninterest expense as a result of increased FDIC insurance expense, the impact of the FDIC special assessment during the year, and increased costs associated with continued branch expansion during 2009.
Bancorp of New Jersey's total assets grew by approximately 5.1% to $319.6 million at December 31, 2009 compared to $304.1 million at December 31, 2008. The Company also experienced continued growth in its loans, deposits, and equity as well. Total loans reached $263.9 million at December 31, 2009 compared to $234.9 million at December 31, 2008, an increase of $29.0 million, or 12.3%. Total deposits increased to $267.1 million at December 31, 2009 from $254.0 million at December 31, 2008, an increase of $13.1 million, or 5.2%. Stockholders' equity grew to $49.5 million at December 31, 2009 from $47.9 million at December 31, 2008, reflecting an increase of $1.7 million, or 3.5%. The increase in equity is net of the effect of the 30 cent per share special cash dividend which was declared during 2009 and totaled approximately $1.5 million.
Bank of New Jersey, headquartered at 1365 Palisade Avenue, Fort Lee, New Jersey, offers convenient hours and a high level of service for traditional consumer and commercial products and services. The Bank, currently, has 6 branch offices located in Fort Lee (3 locations), Hackensack, Haworth, and Harrington Park, all in Bergen County, NJ. A seventh location in Englewood, NJ, has received regulatory approvals and is expected to open during the summer of 2010.
For more information about Bank of New Jersey and its products and services, please visit http://www.bonj.net or call 201-944-8600.
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Wealth is leaving New Jersey, BC study shows
From 2004 through 2008, $70 billion dollars in wealth left New Jersey while the state’s charitable capacity declined by $1.13 billion, according to a new report from Boston College’s Center on Wealth and Philanthropy.
"Wealth began to leave New Jersey around the time when a series of changes to the state’s tax structure made it less competitive for charitable families compared to neighboring states," a press release on the BC report said. "New Jersey’s state income taxes have risen to levels above New York, Pennsylvania, and Connecticut, and there is not a deduction on state income taxes for charitable giving."
The Center on Wealth and Philanthropy at Boston College is a multi-disciplinary research center specializing in the study of spirituality, wealth, philanthropy, and other aspects of cultural life in an age of affluence.
The study was commissioned by the Community Foundation of New Jersey and the Enterprise Trust at the New Jersey State Chamber of Commerce, the BC press release said.
"Wealth began to leave New Jersey around the time when a series of changes to the state’s tax structure made it less competitive for charitable families compared to neighboring states," a press release on the BC report said. "New Jersey’s state income taxes have risen to levels above New York, Pennsylvania, and Connecticut, and there is not a deduction on state income taxes for charitable giving."
The Center on Wealth and Philanthropy at Boston College is a multi-disciplinary research center specializing in the study of spirituality, wealth, philanthropy, and other aspects of cultural life in an age of affluence.
The study was commissioned by the Community Foundation of New Jersey and the Enterprise Trust at the New Jersey State Chamber of Commerce, the BC press release said.
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