Reviewing a Quarter-Century of the Business News That Mattered Most

Reviewing a Quarter-Century of the Business News That Mattered Most

NJBIZ YEARS Reviewing a quarter-century of the business news that mattered most. gibb_beingthere_njbiz_25.qxd:ffd_gibb_concpt_C.2.qxdThe people 10/26/12 who 1:03 PMbuilt Page it1 up, the ones who lost it all, and the successes and failures that shaped the landscape. Sponsored by Being there. Your business is taking you places. The economy is picking up steam and presenting new opportunities. Your potential customer base is broader than ever. Markets that you previously haven’t considered are opening up to you. To seize the current momentum, you need the vision and determination to know how far you can go. We can help you get there. At Gibbons, our five easily accessible offices in key regional markets are practically connected by a single commuter train line, not to mention up-to-the-minute video, audio, and network technology. Our email, phone, and voicemail systems are completely integrated for seamless communications and a highly mobile and accessible workforce. Our lawyers are even happy to work on your premises for however long you need us to help you get to where you’re going. At Gibbons, we’re with you, every step of the way. Gibbons P.C. is headquartered at One Gateway Center Newark, New Jersey 07102 973-596-4500 Newark New York Trenton Philadelphia Wilmington www.gibbonslaw.com IntegratedIn tegrated EnergyEnergy OptimizationOptimization Services Services the nextnext generation of energy performanceperformance management TransformTransform energyenergy fromfrom aa costcost center center into into a arevenue revenue generator generator We’reWe’re empoweringempowering our large business customerscustomers with uniquelyuniquely integratedintegrated programsprograms and tools—includingtools—including Commodity supply,upply, demand response, demand Control,Control, and VirtualVirtual Generation services—toervices—to help optimize energy assetsassets byby betterbetter controllingcontrolling electricity budgets,budgets, reducing energy use, and capitalizing on revenue-producingrevenue-producing opportunities.opportunities. ReapReap savingssavings Earn moneymoney or controlcontrol budgetsbudgets byby participatingparticipating in throughthrough uniqueunique productsproducts established programsprograms Commodity demand r esponse DR Produce ongoingongoing revenuerevenue AchieveAchieve sustainabilitysustainability goals goals bbyy selling unused energy bbyy reducing youryour energy use VirtualVirtual Generation VGVG demand ContControlrol Learn more: u Get aa FREEFREE consultation fromfrom one of our energy optimization expertsexperts at (855) 582-6633 582-6633 v WatchWatch ourour VIDEOVIDEO at: wwwww.conedisonsolutions.com/energyoptimizationw.conedisonsolutions.com/energyoptimization w Email us at: [email protected]@conedsolutions.com NatioNatio Nal HeadqHeadquartersuarters 100100 summit lakeake driverive Valhalla,Valhalla, NY 1059510595 www.conedisonsolutions.comwww.conedisonsolutions.com A MATTER OF MILESTONES JBIZ is proud to celebrate its 25th in the state’s key industries, including back on this publication, especially the N year with this special publication. commercial real estate, health care, lists we compiled. You can reach me at Capturing New Jersey’s dynamic life sciences, energy, banking, manu- [email protected] or (732) 246-5702. business community over 25 years was facturing, gaming, transportation and a labor of love for the NJBIZ editorial sports business. Sharon Waters staff, which worked for months on As always, I welcome your feed- Editor this publication. This book includes a series of lists focusing on the highs and lows of business in the Gar- den State. The staff consult- ed dozens of knowledgeable and longtime leaders for confidential input on these lists. Given this is New Jer- sey, there was no shortage of debate about who and what should be included — Global Legal Counsel in Newark or not — on these lists. K&L Gates LLP operates from more than 40 fully The lists present NJBIZ’s integrated offices on four continents—including right take on the top business news events of the past quarter- here in Newark. We help New Jersey businesses century, as well as the most address their most challenging legal issues and impactful pieces of business- leverage opportunities locally, nationally and abroad. related legislation during that time. Learn more at klgates.com or contact Newark The NJBIZ editors com- Administrative Partner Anthony P. La Rocco at piled the remaining lists in [email protected] or 973.848.4014. the publication, such as our legends list of 25 people — including some who died in the past quarter-century — who have had the great- est influence on New Jersey business. The fallen stars list looks at people who were once high-flying leaders before their careers crashed and burned. The editors also created lists of the best and worst projects in the state from 1987 to 2012. The lists are all present- ed alphabetically or chrono- logically, after recognizing it would be too difficult — and likely unfair — to rank lists spanning 25 years. This publication also cov- ers some of the top advance- ments and most important challenges faced by leaders NJBIZ 25TH AnniVERSARY | 1 MALPRACTICE INSURER REACHES MALPRACTICE10 YEAR INSURERMILESTONE REACHES 10 YEAR MILESTONE Over the past decade, New Jersey Physicians United NJ PURE’s business model which eliminates outside Reciprocal Over the Exchange past decade, (NJ New PURE) Jersey has Physicians distinguished United itself as stockholders NJ PURE’s allows business the insurermodel whichto make eliminates protecting outside its Over the past decade, New Jersey Physicians United NJ PURE’s business model which eliminates outside theReciprocal insurer ofExchange choice for (NJ New PURE) Jersey’s has distinguishedelite physicians. itself NJ as physiciansstockholders the allows main thepriority insurer over to themake motive protecting to make its a profit. Reciprocal Exchange (NJ PURE) has distinguished itself as stockholders allows the insurer to make protecting its PURE’sthe insurer direct of choice approach for Newto physicians, Jersey’s elite which physicians. eliminates NJ the NJphysicians PURE achieves the main this priority objective over bythe securingmotive to one make of the a profit. most the insurer of choice for New Jersey’s elite physicians. NJ physicians the main priority over the motive to make a profit. usePURE’s of traditional direct approach agents andto physicians, brokers, seems which to eliminates be paying the comprehensiveNJ PURE achieves reinsurance this objective plans byin thesecuring country. one of the most PURE’s direct approach to physicians, which eliminates the NJ PURE achieves this objective by securing one of the most loftyuse of dividends. traditional Oneagents indication and brokers, is NJ seemsPURE’s to recentlybe paying comprehensive reinsurance plans in the country. loftyuse of dividends. traditional Oneagents indication and brokers, is NJ seemsPURE’s to recentlybe paying comprehensive It also appears reinsurance that NJ PURE plans has in thedone country. more than just cut out reported all-time high of $45.7 million in admitted assets. the Itmiddleman also appears agents. that NJ “We PURE have has embraced done more our thanrevolutionary just cut out reportedlofty dividends. all-time Onehigh indication of $45.7 million is NJ PURE’s in admitted recently assets. It also appears that NJ PURE has done more than just cut out Even more impressive than its asset growth is that NJ PURE businessthe middleman model agents.by fostering “We ahave close embraced relationship our revolutionarywith all of our Evenreported more all-time impressive high ofthan $45.7 its assetmillion growth in admitted is that NJassets. PURE the middleman agents. “We have embraced our revolutionary accomplished this without going through a rate increase physicians,”business model Poe by says. fostering To support a close his relationship claim, Poe with points all toof NJ our accomplishedEven more impressive this without than going its asset through growth a rate is that increase NJ PURE business model by fostering a close relationship with all of our to its physicians since Jan. 1, 2004. While this news may PURE’sphysicians,” hiring Poe of says. a international To support award his claim, winning Poe court points room to NJ coach toaccomplished its physicians this since without Jan. going1, 2004. through While a thisrate newsincrease may physicians,” Poe says. To support his claim, Poe points to NJ not be popular in the agent and broker world, which has no forPURE’s preparation hiring ofof atrial international and depositions. award winning This supplemental court room coach, coach notto its be physicians popular in since the agent Jan. 1,and 2004. broker While world, this which news hasmay no PURE’s hiring of a international award winning court room coach ability to sell NJ PURE’s policies, it is music to the ears of infor addition preparation to the of defensetrial and attorney, depositions. while This more supplemental costly to the coach, abilitynot be popularto sell NJ in PURE’sthe agent policies, and broker it is world,music towhich the earshas noof for preparation of trial and depositions. This supplemental coach, its physicians insurer,in addition provides to the thedefense comfort attorney, physicians while need more from costly their to theinsurer at itsability physicians to sell NJ PURE’s policies, it is music to the ears of in addition to the defense attorney, while more costly to the “We’re

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