Author Archive for staff report

Opinion: Work and Worth

by Robert B. Reich What someone is paid has little or no relationship to what their work is worth to society. Does anyone seriously believe hedge-fund mogul Steven A. Cohen is worth the $2.3 billion he raked in last year, despite being slapped…

Menendez, Sires hope to reduce helicopter traffic

U.S. Senator Robert Menendez and Congressman Albio Sires are calling for action to reduce both the number of helicopters flying over the Hudson River. Menendez was joined at a news conference today by Hoboken Mayor Dawn Zimmer; Weehawken Mayor Richard Turner; Bayonne…

Mayors predict worsening income inequality

The US Conference of Mayors (USCM) will release a new report that documents the gradual but dramatic shift, over the past 40 years, of income distribution in the US in favor of upper-income households. The report examines the growing economic…

Guilty plea entered for gambling ring

TRENTON – Acting Attorney General John J. Hoffman announced that a Gloucester County man pleaded guilty today to running an illegal poker club, known as the Runnemede Social Club, out of a storefront in Runnemede, as well as an illicit…

Fed flunks ‘too big to fail’ plans

The Federal Reserve and Federal Deposit Insurance Corp. rejected plans submitted by 11 big ‘too big to fail’ banks to facilitate an orderly resolution in the event of failure, or so-called living wills. The Dodd-Frank Wall Street Reform and Consumer Protection…