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SPOTLIGHT Green for Greens Small business Kearny-based Bowery is newcomer to indoor farmin. Page 4 Page 23 Raising a glass, The music man lifting a brand Santelli thrilled to Cobalt’s move to buy famed bring Grammy Museum Scotch Whiskey to Newark paying o Page 12 ® Page 10 njbiz.com MAY 1, 2017 $2.00 Experts say Marino’s pay is in line with the industry Horizon CEO’s $4.5M total YOU CAN has been targeted by Christie BY ANJALEE KHEMLANI At an economic forum last week, Gov. Chris Chris- GO HOME tie told the crowd he would introduce legislation that would add more government appointees to the board of the state’s largest insurer. Christie also took an op- AGAIN portunity to criticize the sal- INSIDE For DeMetropolis and ary of Horizon Blue Cross Blue Christie Shield of New Jersey’s chair- again her team at J.P. Morgan, man and CEO, Robert Marino. attacks a New Jersey location NJBIZ learned through a Horizon, is proving its worth public records request that Ma- proposes in numerous ways rino made $4.5 million in 2016, reform bill. including salary and bonuses. PAGE 14 PAGE 16 Experts quickly hit back at Christie by saying the number was not out of line with Horizon’s size. The insurer has more than 3.8 million covered lives, or about half the state’s population. Alan Johnson, of New York-based Johnson Associates, said the number may be big “in the real world … but it’s not unreasonable.” “With the mess New Jersey is in, we need someone who is good; if he’s good, he’s worth it,” Johnson said of Marino. “It’s really a political issue. “If (Christie) complained that Horizon is inef- ficient or wasting money, then hey, it’s a legitimate claim. But saying, ‘Gee, he should make a lot less because he won’t give me $300 million’ … the gov- ernor has no credibility on this stuff.” Steve Forbes, who, in editorials, has recently weighed in on the issue of Christie attacking Hori- zon, told NJBIZ that Christie is out of line. “Horizon is not a big Blue Cross Blue Shield See MARINO on page 15 For address or name corrections, fax label to (732) 846-0421 INDEX Business Around the State ....2 Spotlight ...............................23 Leaderboard ............................6 Lists .......................................31 Grapevine .................................7 Deals Roundup .....................32 Opinion ..................................21 Guest List ..............................35 Subscribe to NJBIZ: call (866) 288-7699 NJBIZ delivers daily news and analysis of New Jersey’s important economic issues online at njbiz.com. Sign up for our daily e-mail alerts, read our blogs, write a letter to the editor and more. Energizing New Jersey HOW TO REACH US BUSINESS AROUND THE STATE MAILING ADDRESS NJBIZ, 220 DAVIDSON AVE., SUITE 302 SOMERSET, NJ 08873 BRIEFS PHONE (732) 246-7677 Amazon announces three more FAX: EDITORIAL (732) 846-0421 BD paying $24B FAX: ADVERTISING (732) 249-8952 for C.R. Bard FAX: OPERATIONS (732) 846-0421 N.J. facilities, 2,500 new jobs SUBSCRIPTIONS (866) 288-7699 Medical technology compa- REPRINTS For licensing, reprints, e-prints ny BD is acquiring C.R. Bard Inc. and plaques, email reprints@journalmultimedia. s Amazon formally opened the doors last for approximately $24 billion, com. Authorization to photocopy articles for month to its largest New Jersey-based ful- the two New Jersey companies internal corporate or instructional use may be obtained from the Copyright Allment center, in Carteret, the Seattle- announced recently. Clearance Center at (978) 750-8400. based e-commerce giant also announced plans to BD, the Franklin Lakes- For photos, please see njbiz.com/photos open another three sites in the Garden State that based firm also known as Bec- call for the creation of more than 2,500 additional ton, Dickinson & Co., will pay ASSOCIATE PUBLISHER full-time jobs. $317 a share for Bard, a Murray Thomas Hughes [email protected] The new fulfillment centers will be in Logan Hill-based medical tech firm, BUSINESS OPERATIONS Township, Edison and Cranbury. under a definitive agreement. DIRECTOR OF OPERATIONS The newly opened 1 million-square-foot Cart- Both companies’ boards have Christopher DeCellio [email protected] eret facility, which was visited in April by Gov. Chris approved the deal that would see DIRECTOR OF PRODUCT DEVELOPMENT Christie, houses over 2,000 employees and will Bard shareholders get $222.93 in Tom Bergeron [email protected] serve as a main hub for the company’s shipping cash and 0.5077 of a share of BD BUSINESS MANAGER needs throughout the region. stock for each Bard share. AnnMarie Karczmit [email protected] While the planned 1 million-square-foot Logan “Combining with Bard will ADVERTISING Township and 900,000-square-foot Cranbury loca- accelerate our ability to offer SENIOR ACCOUNT EXECUTIVE tions will be used to pick, pack and ship larger cus- more comprehensive, clinically Penelope Spencer [email protected] tomer orders like furniture and music equipment, relevant solutions to customers ACCOUNT EXECUTIVES Amazon says the 900,000-square-foot Edison site and patients around the globe, Susan Alexander [email protected] will focus on smaller items, like books and toys. creating a strong partner for Liz Dwyer [email protected] Amazon already has one facility in Logan health care providers who are Kirsten Rasky [email protected] Township. increasingly focused on deliver- Damon Riccio [email protected] “We applaud Amazon for investing in several ing better outcomes at a lower Frank Scancarella [email protected] expansions throughout New Jersey and for creat- total cost,” BD Chairman and Joanne White [email protected] ing greater opportunities for our high-quality work- Amazon will add three more fulfillment centers in New Jersey, it CEO Vince Forlenza said in a Barry Young [email protected] force,” said Christie. “Today’s great news is no acci- announced. AARON HOUSTON prepared statement. “Our two MARKETING MANAGER dent or coincidence. Over the last seven-plus years, purpose-driven organizations Ali Brush [email protected] my administration has lowered a variety of taxes, full-time employees spread across sites in Robbins- are well-aligned strategically, improved New Jersey’s business climate, increased ville, Avenel, Florence, Carteret and Logan Township. sharing a strong track record of EDITORIAL the number of well-paying jobs and grown the over- “Our ability to expand in New Jersey is the re- performance and a deep com- EDITOR all economy. Amazon’s action should encourage sult of two things: incredible customers and an out- mitment to addressing unmet Tom Bergeron [email protected] even more employers to benefit from all New Jersey standing workforce,” said Amazon Vice President of needs in today’s challenging MANAGING EDITOR has to offer.” North American Operations Akash Chauhan. “We health care environment. Eric Strauss [email protected] Since first announcing its plans in 2012 to open are excited to continue growing by creating an addi- “We expect the transaction to DEPUTY MANAGING EDITOR distribution warehouses in New Jersey, the compa- tional 2,500 full-time roles at new fulfillment centers contribute meaningfully to BD’s Anjalee Khemlani [email protected] ny’s state-based workforce has grown to over 13,000 across the state.” — Andrew George plans for revenue growth and Health Care margin expansion, and generate WEB EDITOR/SOCIAL MEDIA COORDINATOR outstanding value both near- and Emily Bader [email protected] long-term for shareholders. I STAFF WRITERS Meg Fry [email protected] 8 added to state chamber board of directors am excited to welcome Bard’s Food and Beverage/Women in Business/ talented employees to our strong Manufacturing/Retail he New Jersey Chamber of Commerce elected • Robert Garrett, co-CEO, Hackensack Meridian and dedicated team as we bring Andrew George [email protected] Teight new members to its board of directors re- Health Network. together two companies with State House correspondent cently. • Debbie Hart, founding CEO and president, such complementary capabilities, Brett Johnson [email protected] Spotlight Chamber CEO and President Tom Bracken BioNJ. values and strong reputations for Mario Marroquin [email protected] said the group represents a wide range of industries, • Richard Hoefling, vice president, Newark Hub, delivering superior results.” Real Estate services, nonprofits and advocacy organizations. United. At the close of the transac- CHIEF PHOTOGRAPHER “We welcome these respected leaders to the • Ronald Ladell, senior vice president, AvalonBay tion, scheduled for fall of this Aaron Houston [email protected] New Jersey Chamber of Commerce board of direc- Communities. year, Bard shareholders would RESEARCHER tors,” Bracken said. “Each of them brings a wealth of • Brian Molloy, president and managing director, own about 15 percent of the Jessica Perry [email protected] business experience that will strengthen our board Wilentz. combined company. The deal and help us achieve our goal of growing New Jer- • Joseph Roth, CEO and president, New Jersey involves $1.7 billion in cash from EVENTS sey’s economy and making the state more afford- Organ and Tissue Sharing Network. BD, as well as about $10 billion EVENTS DIRECTOR able for everyone.” Bracken said the board of directors provides in new debt and $4.5 billion in Wendy Berg [email protected] The new members of the board: the guidance necessary for the New Jersey Chamber equity and equity-linked securi- EVENTS COORDINATOR • Mike Bukowski, plant manager, Bayway Refin- to promote a vibrant business climate throughout ties. Bard shareholders will Anna Acquaviva [email protected] ery, Philips 66. the state and to develop proactive solutions that will receive about $8 billion in BD • Thomas Comiskey, regional president, solve the challenges facing New Jersey’s business common stock as well. M&T Bank.