DOCSLIB.ORG

In Re: Commerce Bancorp Securities Litigation 04-CV-03252

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
In Re: Commerce Bancorp Securities Litigation 04-CV-03252 Case 1:04-cv-03252-RBK-JBR Document 24-1 Filed 01/24/2005 Page 1 of 58 LITE DEPALMA GREENBERG & RIVAS, LLC Joseph DePalma, Esq. (JD-7697) Susan D. Pontoriero, Esq. (SP-0463) Two Gateway Center, 12th Floor Newark, New Jersey 07102 Telephone: 973-623-3000 Fax: 973-623-0858 SCOTT & SCOTT, LLC David R. Scott, Esq. Neil R. Rothstein, Esq. Erin Comite, Esq. 108 Norwich Avenue Colchester, CT 06415 Telephone: 860-537-3818 Fax: 860-537-4432 Attorneys for Plaintiff [Additional Counsel on Signature Page] UNITED STATES DISTRICT COURT DISTRICT OF NEW JERSEY No. 04-cv-03252 In re Commerce Bancorp Securities Litigation CLASS ACTION CONSOLIDATED COMPLAINT FOR All Actions VIOLATION OF THE FEDERAL ______________________________________ SECURITIES LAWS DEMAND FOR JURY TRIAL Case 1:04-cv-03252-RBK-JBR Document 24-1 Filed 01/24/2005 Page 2 of 58 INTRODUCTION 1. This is an action on behalf of purchasers of Commerce Bancorp, Inc. (“Commerce Bank” or the “Company”) publicly traded securities during the period June 1, 2002, to June 28, 2004, inclusive (the “Class Period”). Commerce Bank is a bank holding company headquartered in Cherry Hill, New Jersey. It operates 300 retail bank branches in New Jersey, Pennsylvania, Delaware and New York. The Company’s wholly-owned subsidiaries include: Commerce Bank, N.A. (Commerce NJ), Commerce Bank/Pennsylvania, N.A., Commerce Bank/Shore, N.A., Commerce Bank/Delaware, N.A., and Commerce Bank/North. Commerce Bank also offers insurance services through its subsidiary, Commerce Insurance Services, Inc. In addition, its capital markets subsidiary Commerce Capital Markets, Inc., is according to the Company, “the region's largest public finance underwriter” and provides financial advisory services to major clients in the field of education and healthcare. 2. Commerce Bancorp, Inc., describes itself on its website as follows: CORPORATE PROFILE Commerce Bancorp, Inc., has evolved into a regional financial services leader, anchored by the financial strength of its five banking subsidiaries and augmented by Commerce Insurance Services, Inc., and Commerce Capital Markets, Inc. Founded in 1973, CBH's first 30 years have been marked by rapid growth, sound profitability and excellent financial returns to its shareholders. With assets of more than $29 billion, CBH is the largest bank headquartered in Southern New Jersey, serving Metropolitan Philadelphia, New Jersey, Delaware and New York. CBH is a growth retailer selling convenience, and has successfully developed and implemented a unique retail strategy. This retail approach to banking uses a chain concept and features standardized facilities, standardized hours, standardized service and aggressive marketing. The consistent delivery and reinforcement of this retail strategy for 31 years has built a brand that the consumer has accepted as truth. CBH is "America's Most Convenient Bank" offering the best in delivery channels. The consumer is given the choice of visiting one of CBH's more than 300 convenient branch locations which are open seven days a week, using the convenience of Commerce Online - America's leading on-line home banking - 1 - Case 1:04-cv-03252-RBK-JBR Document 24-1 Filed 01/24/2005 Page 3 of 58 product, or using other self-service delivery systems such as Bank-By-Phone, Check Card, ATMs and CBH's Internet website, www.commerceonline.com. CBH's unique retail strategy has produced exceptional financial performance. Fueled by the growth in low-cost core deposits and a cost of funds of just under 1%, over the last five years assets, loans and deposits have grown 36%, 26% and 39%, respectively. Total revenues, net income and earnings per share have increased 30%, 34% and 26%, respectively. CBH is one of the first financial services providers in its market to make a serious commitment to the insurance business. Commerce Insurance Services, Inc., was formed in 1996 through the combination of several leading local independent insurance agencies. Subsequent acquisitions have created the 28th largest insurance agency in America with annual premium volume exceeding $800 million. Commerce Capital Markets, Inc., focuses on asset management and wealth advisory services. CBH plans to continue its growth and reinforce its brand by increasing its branch offices to approximately 700 and its assets to $104 billion by 2009. Included in this plan is the targeted expansion into the Washington- Baltimore market starting in 2005, and the entry into the Boston market in 2007. It also states, in part: Exchange New York Stock Exchange (Stock Quote [CBH]) Transfer Agent: Mellon Investor Services, L.L.C. 85 Challenger Road Overpeck Centre Ridgefield Park, NJ 07660 Phone 888-470-5884 Corporate Counsel: Blank Rome LLP Philadelphia, PA Independent Accountants: Ernst & Young Philadelphia, PA - 2 - Case 1:04-cv-03252-RBK-JBR Document 24-1 Filed 01/24/2005 Page 4 of 58 3. The Commerce Bancorp website further states: About Commerce Bank Commerce is one of the nation's fastest growing financial services retailers. Since its inception in 1973, Commerce continually has honed a unique and very successful retail model, which fuels the Bank's continuing growth. Commerce has expanded substantially since opening its first store more than 30 years ago in Marlton, New Jersey. Today, the Commerce network comprises more than 300 convenient stores throughout New Jersey, Pennsylvania, New York and Delaware. Commerce is based in Cherry Hill, New Jersey and has assets of more than $29 billion, making it the largest locally headquartered independent bank in the metropolitan Philadelphia area. Commerce trades on the New York Stock Exchange under the symbol CBH. At a time when other banks, both locally and nationwide, are abandoning branch banking and forcing customers to use remote delivery channels, Commerce will open 50+ additional branches during 2004. In addition, Commerce is maintaining an aggressive expansion pace, working toward a total asset goal of $104 billion and a branch network of 700 offices by the year 2009. As “America's Most Convenient Bank,” Commerce looks different, thinks different and provides a truly different banking experience. The Bank's “have it your way” approach emphasizes the importance of providing customers with convenient, quality financial services, whenever, wherever and in whatever way they may want them. Commerce's hallmark products and services include: - Seven-day branch banking - FREE personal checking - Convenient online banking and stock trading at commerceonline.com, America's leading on-line banking service - 1-800-YES-2000, a full-service, 24-hour bank-by-phone system - Commerce Check Card, a combination ATM/Visa debit card About Commerce Insurance Services Commerce Insurance Services was launched in 1996 through the combination of several leading locally based independent insurance agencies. Additional acquisitions have significantly increased the size and scope, to where Commerce Insurance Services is among the top 30 largest insurance brokerages in America. Commerce Insurance Services is licensed in all 50 states and provides a complete range of commercial, employee benefit and personal insurance coverage to more than 130,000 clients, and has an annual premium value of $800 million. - 3 - Case 1:04-cv-03252-RBK-JBR Document 24-1 Filed 01/24/2005 Page 5 of 58 About Commerce Capital Markets Commerce Capital Markets is a full service brokerage firm offering personal financial solutions to meet individual customer's investment goals. 4. During the Class Period, defendants failed to disclose that certain of its executives and of the Individual Defendants were, as a regular course of business, and with the express knowledge and approval of the Company’s chief executive officer and other senior executives, committing honest services fraud, wire fraud, and mail fraud through bribery and knowing participation in bid-rigging in order to win underwriting awards and gain banking business for Commerce Bank from governmental entities, including the City of Philadelphia (the “City”). The bid-rigging took place via provisions of competing bids to Commerce Bank executives, for example, by the Treasurer of the City. Thus, enabling them to slightly undercut competing bids and consistently secure banking and underwriting awards. These practices were criminal, inherently unsustainable and placed the Company and its investors at great risk. At the same time, the Individual Defendants had actual knowledge of grand jury proceedings delving into the actions of Commerce Bank, a former Director of Commerce Bank/Pennsylvania and two Commerce Bank executives. Indeed, Commerce Bank attorneys had access to telephone tapes that were at the center of the indictment. Tapes that established the culpability of the Director and two executives, resulting in their eventual indictment, as described below. Despite the actual knowledge of all senior Commerce Bank executives that a criminal grand jury was investigating two executives and one of Commerce Bank/Pennsylvania’s Directors, the practices in question were never disclosed to investors during the Class Period. 5. The massive risks of these undisclosed practices and the undisclosed grand jury proceedings materialized on or about June 28, 2004, when US Attorney Patrick Meehan announced that the Commerce Bank/Pennsylvania Director and two executives had been - 4 - Case 1:04-cv-03252-RBK-JBR Document 24-1 Filed 01/24/2005 Page 6 of 58 indicted. Ronald A. White, a Director of Commerce Bank/Pennsylvania from June 2002 to October 2003 – who has since passed away – was charged with conspiracy to commit honest services fraud, 22 counts of wire fraud, four counts of mail fraud, two counts of extortion, and five counts of making false statements to the FBI. If convicted on all counts, he would have faced a maximum sentence of 555 years imprisonment and an $8.25 million fine. Glenn K. Holck, president of Commerce Bank/Pennsylvania, was charged with conspiracy to commit honest services fraud, eight counts of wire fraud, and one count of mail fraud. Stephen M. Umbrell, regional vice-president of Commerce Bank/Pennsylvania, was charged with conspiracy to commit honest services fraud, eight counts of wire fraud, and one count of mail fraud.
Load more

Recommended publications
  • The-Camden-Waterfron
    Office of the Mayor 520 Market Street Camden, New Jersey 08101 FOR IMMEDIATE RELEASE: CONTACT: September 24, 2015 City of Camden: Vince Basara 856-757-7200 Liberty Contact: Jeanne Leonard 610-648-1704 CITY OF CAMDEN, BUSINESS & COMMUNITY LEADERS ANNOUNCE THAT LIBERTY PROPERTY TRUST WILL LEAD DEVELOPMENT OF “THE CAMDEN WATERFRONT Master Plan By Renowned Robert A.M. Stern Architects Will Redefine City’s Waterfront CAMDEN, NJ: Mayor Dana L. Redd, business and community leaders were today joined by Governor Christie as they announced that Liberty Property Trust will lead development of “The Camden Waterfront,” a new approximately $1 billion development that will redefine the Camden Waterfront by creating as much as 1.7 million square feet of office space and include a hotel, retail and a residential component. The development would be the largest private sector investment in Camden’s history, creating thousands of construction jobs and bringing thousands of permanent jobs to the City. Camden Mayor Dana Redd was joined at the 3:00 PM announcement at the Adventure Aquarium in Camden by New Jersey Governor Chris Christie, Bill Hankowsky, Chairman, President & Chief Executive Officer of Liberty Property Trust, renowned architect Robert A.M. Stern, and Richard T. Smith, President of the NAACP New Jersey State Conference. “’The Camden Waterfront’ represents a unique opportunity to develop a project of this scale in the center of a major metropolitan area. This visionary project will reshape the central waterfront in a way that will be truly transformative for Camden,” said Bill Hankowsky. “Through the Grow NJ program, the state of New Jersey has created an economic development program which, if approved, has the potential to be truly transformative to the city of Camden.
    [Show full text]
  • Jefferson Van Drew
    DECEMBER 2019 GLOBE 2019 YEAR IN REVIEW NONE OF THE ABOVE WINNER OF THE YEAR BRITTANY O’NEILL OPERATIVE OF THE YEAR DONALD TRUMP’S : NEW BEST FRIEND JEFFERSON VAN DREW 2019: YEAR IN REVIEW | 1 2019: YEAR IN REVIEW | 2 NEW JERSEY GLOBE POWER LIST 2019 That removes one typically automatic Sweeney vote from the Senate Democrats, unless the senate president can convert Mike Testa into a Sweeneycan. There were also two prominent party switchers: freshman Rep. Jeff Van Drew became a Republican, and State Sen. Dawn Addiego is now a Democrat. In the year of the unlikely voter, just 27% of New Jersey voters cast their ballots in 2019 – a number that was up 5% over 2015 thanks to the state’s new vote-by-mail law that caused the participation of many New Jerseyans who would never have voted if ballots didn’t show up at their homes. A 5% increase was significant. Off-off year elections like 2019 when State Assembly candidates head the ticket happens twice every other decade, so New Jersey won’t see another one until 2035. The race for Democratic State Chairman ended in a draw – John Currie keeps the job for eighteen months, when LeRoy Jones takes over. Legislative reapportionment, which was the entire reason for the state chairman battle, gives an edge to the anti-Murphy faction – if that’s where Jones is when the new districts are drawn. Murphy continues to struggle to win the approval of New Jersey voters, yet he appears – at least right now – to have a lock on the Democratic nomination when he seeks re-election in 2021.
    [Show full text]
  • Camden Genetic Research Center Gets $14M NIH Grant
    Camden city News The Honorable Dana L. Redd Office of the Mayor March 18, 2015 520 Market Street Phone: 856-757-7200 Camden, New Jersey Camden celebrates $200,000 grant to restore derelict neighborhood Standing in front of an abandoned and very heavily polluted Camden Labs building on the city's south side Monday afternoon, New Jersey officials including U.S. Sen. Bob Menendez celebrated a $200,000 federal grant for neighborhood improvement. The money comes from the Environmental Protection Agency's Brownfield Planning program, and the city will use it to focus on a clean-up strategy for dilapidated areas in the Mt. Ephraim area – already a part of the federal Choice Neighborhood program. "These are legacies of failures of the past that now have to be borne by the present," said Menendez. "Look, New Jersey has a history replete with areas like this which have been successfully reclaimed. It's just going to take a lot of effort to do it." Menendez indicated that based on the scale of the city's vision, full area revitalization could take at least five years. U.S. Rep. Donald Norcross, also on hand Monday, said that for too long, the city has been talking about change. But with the Choice neighborhood program funding, and now the EPA money, it's finally happening. "What you're seeing now is the state, the county, the city and federal all coming together because they all understand how important this is now," said Norcross. In 2012, Camden was awarded a Choice Neighborhood planning grant from the U.S.
    [Show full text]
  • A New Day for New Jersey
    FOR ALUMNI & FRIENDS OF ROWAN UNIVERSITY SUMMER 2013 A new day for New Jersey 16 | Permanent presence 22 Home, shacks, home 30 | Captain of a dream 36 Brown & Gold Gridiron Homecoming Country Concert Classic Picnic & Pep Rally Saturday, September 14 Friday, October 18 Join football alumni and friends for the annual pre- A limited number of alumni tickets are available for the game picnic as the Profs take on Framingham State. first-ever Homecoming Country Concert & Pep Rally Enjoy a barbecue buffet and updates on the season. featuring Liv Devine, Joe Nichols and Uncle Kracker. 11 a.m., Football Field, near the Team House 5 p.m., Rowan Hall Green Rohrer College of Business Fall Gala Class of ’88 25th Reunion Friday, September 27 Saturday, October 19 Class of ’88 classmates are invited to celebrate their 25th Join us for a dinner honoring members of the RCB Reunion. Enjoy your day at the Homecoming festivities community with special guest speaker Jeffrey Tambor and party into the night at a reunion reception in the (Arrested Development). Watch your mailbox for info. Kopenhaver Center for Alumni Engagement. We hope you take the time 6 p.m., Eynon Ballroom to attend an alumni event 5:30 p.m., Shpeen Hall this year. As the University and our alumni population Baseball Diamond Club Rowan Alumni @ NJEA continue to grow we Golf Tournament Thursday and Friday, November 7 – 8 are always seeking alumni volunteers to get Saturday, September 28 All GSC and Rowan educators are invited to visit our involved with our Alumni Baseball alumni and fans from all generations are booth at the annual NJEA Teachers Convention at the programming.
    [Show full text]
  • Bnowx & Connnry
    MER-L-001007-19 07/19/2019 1:00:58 PM Pg 1 of 24 Trans ID: LCV20191258709 Bnowx & CoNnnRY, LLP ATToRNEYS AT LAW :i;o uaoooN AveNue WESTMONT, NEW JERSEY 08108 (856) 8s4-8900 FAX (8s6) 858-4967 William M. Tambussi, Esq. Certified by the Supreme Court ofNew Jersey as a Civil Trial Attomey wtambuss i@brownconnery. com Direct Dial: (856) 858-8 175 July 19,2019 VIA eCOURTS Honorable Mary C. Jacobson, A.J.S.C. Superior Court of New Jersey Mercer County Criminal Courthouse 400 S. Warren Street, 4th Floor Trenton, NJ 08650 Re: George E. Norcross, et al. v. Philip D. Murphy, et al. Docket No. MER-L-001 007-l 9 Dear Judge Jacobson: We write, on behalf of Plaintiffs, in response to Defendants' request for a telephonic case management conference. Plaintiffs do not believe that a telephonic case management conference is necessary to address the issues raised in Defendants' July 19, 2019 correspondence. The context is as follows. On July 12 and 15,2019, it was reported in the media that certain members of Governor Philip Murphy's staff were engaged in weekly telephone conferences with certain outside political advisors. The role of the outside political advisors came into focus in a July 10,2019 media report that an outside political advisor to Govemor Murphy wrote "No pain, no gain" in reference to Govemor Murphy's decision to freeze budgetary funding to Cooper Health Care. On July 15, 2019 and thereafter, it was reported that discussions about the NJEDA, one of the issues before the Court, were had in the weekly telephone calls referred to as "Inside/Outside Calls." The new reports are attached for the Court's reference.
    [Show full text]
  • 2020 Primary Write in Votes
    2020 Primary Write In Votes US Senator DEM Patricia Flanagan 2 Bella Bannet 1 Accepted As Is 0 Patrick M Rettig 1 Ben Iver 1 Ravi Shankar 1 Benjamin A. Shor 1 Resolved 109 Rena Margulis 1 Benjamin Perloff 2 Aaron Widman 1 Republican 3 Bernie Sanders 3 Al Camaione sr 1 Richard Ian Reynolds 1 Bharet " Gujuboy" Graham 1 Alexandria McCormick 0 Rikin Metha 1 Bill Lennon 1 Alfred E Neumann 1 RiKinRik Mehta 4 Black Lives Matter 1 Anthony Hack 1 Robert Andrews 1 Booker 1 Anthony Ritz 1 Robert Stimelski 1 Brandy M Blout 1 Anybody 1 Ronald Reagan 1 Brian Hueber 1 Anybody but Booker 1 Samuel Anthony 1 Brian K. Everett 1 Anyone else 1 Sandra Diaz-twine 1 Brian P McShane 1 Benjamin Perloff 1 Sean Peterson 1 Brian Valerio 1 Carolyn Koel 1 Shaingh 1 Bridget Poisel 1 carson wentz 1 Simon Fisher 0 Bro. Zawdie Abdul Malik 1 Centrist Candidate 2 Sparticus 1 Bruce springsteen 1 Charles Rhodes Jr 1 Stuart Pratt 1 Bruce Springsteen 2 Chris Columbus 1 Take Back NJ 1 Bryce Hewlett 2 Christopher L Hedges 1 Tricia Flanagan 1 Bugs Bunny 1 Craig Bruno 0 Veronica Fernandez 1 Byrce Hewlett 1 Diane M. Galeoke 1 Will Cunningham 0 Caitlin Garazzo 1 Dominick Mellchiore III 1 William J. Lennon 1 Candace Owens 1 Donald Duck 2 Rejected 54 Carolyn Koel 1 Donald J Trump 2 Incorrect Spelling 0 Casey F. McAleer 1 Donald Norcross 1 Not Qualified/Declared 16 Catherine Reisman 1 Donald Trump 2 Other 38 Centrist Candidate 2 Dwayne Johnson 2 Charene Scheeper 1 Elmer Fudd 1 Charles Drass 1 Emma Guggenheim 1 House of Representatives 1st Chris Heffner 1 Eugene Anagnos 2 District DEM
    [Show full text]
  • Trump's New Jersey Collaborators
    Trump’s New Jersey Collaborators The Network of Powerful Corporate Interests Profiting from a Trump Administration June 2017 NJ Communities United Introduction Donald Trump’s agenda spells disaster for America’s working families. Working class communities - particularly communities of color - will be harmed by Trump Administration policies. Public schools will continue to close as privately-run, publicly funded-charter and Renaissance schools continue expanding. More families will fall into financial crisis caused by medical debt, as healthcare costs continue to spiral out of reach for families. Funding for wrap-around services and early childhood education is likely to evaporate under the weight of massive tax cuts for the wealthy. And the same Wall Street actors who caused the global economic meltdown in 2008, will be less-regulated and handed more leeway to continue peddling toxic financial products without fear of prosecution. America’s ultra-rich elites are set to make billions in profits from the very same policies that will de-stablize and harm working class communities. Although New Jersey is one of the wealthiest states in the nation, it’s also one of the most unequal.1 New Jersey continues to lead the nation in foreclosures2. The dismantling of the public school systems in Camden and Newark - largely Black and Brown cities - stands in stark contrast to the robust public school systems in more affluent, largely white communities across New Jersey. Despite the occasional rhetoric of “resistance” from elected leaders in New Jersey’s Democratic Party, a powerful group of corporate leaders have hijacked the Democratic Agenda, while also maintaining close personal, business and political relationships with Donald Trump, his business, and his administration.
    [Show full text]
  • Better for Whom? Present and Prospective Camden Resident Perspectives’ on State-Mandated Renaissance Charter Schools and Recent Camden Development
    REUNNING HEAD: Better for Whom? BETTER FOR WHOM? PRESENT AND PROSPECTIVE CAMDEN RESIDENT PERSPECTIVES’ ON STATE-MANDATED RENAISSANCE CHARTER SCHOOLS AND RECENT CAMDEN DEVELOPMENT BY KEITH E. BENSON A dissertation submitted to the Graduate School of Education Rutgers, the State University of New Jersey in the partial fulfillment of the requirements for the degree of Doctor of Education Graduate Program in Education, Culture, and Society written under the direction _________________________ Dr. Beth Rubin, Chair _________________________ Dr. Brandi Blessett _________________________ Dr. Catherine Lugg October 2016 New Brunswick, New Jersey Better for Whom? © 2016 Keith E. Benson ALL RIGHTS RESERVED i Better for Whom? BETTER FOR WHOM? PRESENT AND PROSPECTIVE CAMDEN RESIDENT PERSPECTIVES’ ON STATE-MANDATED RENAISSANCE CHARTER SCHOOLS AND RECENT CAMDEN DEVELOPMENT Keith E. Benson ABSTRACT This qualitative study explores the interpretations and perceptions of the Camden community – a community that is predominately minority, historically impoverished, and rapidly employing neoliberal strategies in public education (charter schools, school closure) and urban redevelopment. Using the framework of standpoint theory (Barnett, 2009; Creedon, 2007; Collins, 1990) as a lens to alternatively view change and “progress” in Camden. This study included the views of Camden residents who hold socio-political capital; yet, are profoundly impacted by the city’s employ of neoliberalism within both education and urban development. The author will highlight current and future resident viewpoints’ on living in a city whose leadership employs neoliberal tactics in redevelopment and, simultaneously, rebranding (Davis & Oakley, 2013) public education. Participants reported feelings of political alienation pertaining to participation in redevelopment and public education decision-making. They also believed such contemporary efforts in Camden are intended to benefit a different population than the low-income minorities who currently live there.
    [Show full text]
  • 2021 YEAR in ADVANCE 2 Message from the Editor YEAR in ADVANCE 2021
    2021 YEAR IN ADVANCE 2 Message from the Editor YEAR IN ADVANCE 2021 P.O. Box 66 Verona, NJ 07044 [email protected] www.InsiderNJ.com Max Pizarro Editor-in-Chief [email protected] Republicans used to be those bankably bow-tied guys who could absorb a pink belly, and then earnestly glaze-over the eyeballs of their guilt-tripped tormentors with lectures about Nixon and Reagan. Now they wear minotaur headdresses and storm the U.S. Capitol. That’s an overload of nerdly karma gone miserably haywire, but such are the trippy times in which we live. Every year we put together a run-down on what to expect in the months ahead in New Jersey politics, and we usually manage to get it out a little earlier than February, Pete Oneglia but the ongoing issuance of real-time – sometimes nutjob – news made the future General Manager seem farther away than usual and the present all the more urgent. [email protected] Amid all the crazy political sparks, including the most unorthodox – and certainly most obnoxious – transition of power by a departing executive in U.S. presidential Michael Graham CEO history – we finally found that little crosscurrent between now and then to comment on our coming current events. John F.X. Graham Publisher Herein find assessments of the main collisions at hand, minus some of the local ones that will no doubt provide their own special parochial flavor. Ryan Graham Associate Publisher Edison comes to mind. 3 WISHING EVERYONE A HAPPY & HEALTHY NEW YEAR Executive Board Committee Dr. Patricia Campos-Medina, Immediate Past President • Zulima Farber, President Emeritus • Carol Cuadradro, Vice President • Lucia Gomez, Vice President • Arlene Quiñones Perez, Treasurer • Aida Figueroa-Epifanio Cristina Pinzon, Public Relations Secretary Laura Matos,General Board Members President Grissele Camacho • Milagros Camacho • Flora Castillo • Sonia Delgado • Lizette Delgado Rosa Farias • Kay LiCausi • Andrea Martinez- Orbe • Analilia Mejia • Carmen Mendiola Noemi Velazquez • Nohemi G.
    [Show full text]
  • Camden, New Jersey and the Municipal Rehabilitation and Economic Recovery Act of 2002
    THE POLITICAL FUTURE OF CITIES: CAMDEN, NEW JERSEY AND THE MUNICIPAL REHABILITATION AND ECONOMIC RECOVERY ACT OF 2002 __________________________________________________________________ A Dissertation Submitted to the Temple University Graduate Board __________________________________________________________________ In Partial Fulfillment of the Requirements for the Degree DOCTOR OF PHILOSPHY __________________________________________________________________ By Daniel J. Dougherty May 2012 Examining Committee Members: Dr. Barbara Ferman, Advisory Chair, Department of Political Science Dr. Carolyn Adams, Department of Geography and Urban Studies Dr. Megan Mullin, Department of Political Science Dr. David Bartelt, External Member, Temple University Department of Geography and Urban Studies © Copyright 2012 by Daniel J. Dougherty All Rights Reserved ii ABSTRACT Since the mid-20th century demographic and economic changes have left older post-industrial American cities located amidst fragmented metropolitan areas and has resulted in the loss of political power accompanied by loss of economic wealth. This has left urban centers in the Northeast and Midwest United States in various states of decline. Located within the sixth largest metropolitan area in the country, the City of Camden, New Jersey is one of America’s most distressed cities. During the longest period of decline and de-industrialization in the 1960s and 1970s, Camden lost nearly half of its industrial job base, more than other de-industrializing American cities and over one-third of its population. Currently, Camden’s circumstances related to concentrated poverty, unemployment, failing schools and a crumbling infrastructure typify the worst consequences of urban decline. The Municipal Rehabilitation and Economic Recovery Act (“Camden Recovery Act”) passed in 2002 was state-level legislation designed to intervene in Camden’s municipal operations and re-structure economic development in the city in a way not seen since the Great Depression.
    [Show full text]
  • NJ Globe Power List 2020 10 NJG KEVIN MCCABE
    1 NJ Globe Power List 2020 PROVEN LEADERS IN THE LEGAL COMMUNITY With a unique blend of public sector insight and private sector expertise, O’Toole Scrivo delivers effective and innovative solutions to its clients, especially when the stakes are highest. www.oslaw.com 14 Village Park Road, Cedar Grove, NJ 07009 • 973.239.5700 200 Park Avenue, Suite 1700, New York, NY 10166 • 888.663.1117 NJ Globe Power List 2020 2 OS_2020 NJGlobe_ad.indd 1 10/4/18 10:29 PM 3 NJ Globe Power List 2020 NJ Globe Power List 2020 4 EDITOR’S NOTE CIRCLE OF LIFE exists at every level of New Jersey politics. It all starts with a room, perhaps in a borough hall, county administration building, somewhere in Trenton, or in the back of a party headquarters. A room where big and small decisions are made. When you first start out in politics, aspiring to be a Aperson of influence, life begins standing in a hallway, gazing at a closed door. Behind that door, people more important than you are determin- ing important matters of public policy, making tactical decisions about who wins elections, doling out patronage and awarding contracts. At this point, all you want to do is get through the door and inside that room. When the moment finally arrives, and you’re inside the room, the first step is to find yourself sitting in a chair along the wall listening to others making decisions. Wall sitters just want a seat at the table. And if that happens, after you spend some time actively partici- pating in the decision-making process, a new ambition sets in.
    [Show full text]
  • Let's Get to Work! the New Jersey State of Labor 2 Special Edition Labor 2021
    SPECIAL EDITION LET'S GET TO WORK! THE NEW JERSEY STATE OF LABOR 2 SPECIAL EDITION LABOR 2021 WELCOME TO THE INSIDERNJ SPECIAL EDITION IN HONOR OF LABOR DAY P.O. Box 66 Verona, NJ 07044 [email protected] www.InsiderNJ.com It’s called struggle for a reason, because You will find labor leaders and elected no one ever thought the fight for a just of ficials considering some of the most Max Pizarro wage would be easy. “We were very wel - pressing issues impacting the workforce, Editor-in-Chief come to the workers,” IWW organizer including unemployment, labor expan - [email protected] Elizabeth Gurley Flynn said, in reference sion, the infrastructure bill before the to the Wobblies’ 1913 forays into Pater - U.S. House that would fund the Gateway son. “But we were set upon by the city Tunnel project, project labor agreements, authorities with vicious fury.” minimum wage, diversity among labor groups, the deadly impact of Hurricane “Vicious fury” doesn’t accurately convey Ida , and, of course, the COVID pan - the ongoing tensions between private demic. sector versus public sector labor in New Jersey. But it may relate those deeper You will also encounter our InsiderNJ Pete Oneglia disaffections and agonies experienced by Labor List recognizing the main players General Manager laborers not protected by unions, forced in the New Jersey Labor Movement, [email protected] to work for an unlicensed temp agency, among them the leader of the guild help - like Edilberto Caicedo, a forklift operator ing Gannett reporters in their quest to who died on the job in Kearny in 2019.
    [Show full text]