Last Chance Gas

The state’s pension system is underfunded by nearly $46 billion, a more than 30 percent increase in a year, according to a new analysis released today by the state Treasury department.

The state’s failure to make payments into the fund, investment losses and benefit increases granted nearly a decade ago have contributed to putting the state on an unsustainable path, Janet Cranna, an actuary with Secaucus-based Buck Consultants, said at a presentation to state pension boards today.

via N.J. pension fund is underfunded by $46B, as gap continues to grow | – NJ.com.

Every member of the legislature that voted for a budget “balanced” through this thievery should be indicted for fraud.

A judge today froze part of Gov. Chris Christie’s executive order to suspend the activity of the state Council on Affordable Housing for 90 days.

Appellate Judge Stephen Skillman said the council should resume its activities until the court has a chance to hear an appeal filed by the Fair Share Housing Center, a nonprofit advocate for affordable housing in New Jersey.

via N.J. judge puts Gov. Christie’s executive order freezing affordable housing council on hold | New Jersey Real-Time News – - NJ.com.

The problem remains the same: a Leftist state state judiciary that legislates rather than interprets.

The defense has made the standard argument for dismissal in the Leona Beldini corruption trial with U.S. District Judge Jose Linares expected to make a ruling this afternoon.

In the interim, now that the prosecution has finished presenting its case and the defense rested without calling any witnesses, the lawyers on both sides will discuss with the judge the wording of the charge to the jury.

via Defense argues for dismissal in Beldini corruption case | Hudson County Now – - NJ.com.

In this type of proceeding the defense never calls witnesses, unless they can provide an alibi. Hard to do when you’ve been recorded on tape.

With this case, as with all the indictments resulting from the Solomon Dwek sting operation, the only real defense is to get the jury to believe there is a more reasonable interpretation for the defendant’s words than proposing a criminal act. They will also try to undermine the star prosecution witness, Dwek, so that his evidence will be discounted.

In essence, what happens in the Beldini case will determine the course of the other cases. If she is found guilty, expect to start hearing plea bargains.

Camden – Mayor Dana Redd has added at least five former aides to former Gov. Jon Corzine to her staff.

Redd, who was sworn in last month, has faced criticism from Republicans for pushing to increase the maximum salaries for some top staff positions.

Redd said she needed the higher guidelines to be able to hire the former state employees at their former salaries.

Redd says the city’s payroll is still going down by $6,000 this year because she's not filling several positions vacated by recent retirements.

Her hires include Corzine’s former spokesman, a former assistant attorney general and a former director of the state Council on Affordable Housing.

via Camden mayor hires five former Corzine staffers | New Jersey Real-Time News – - NJ.com.

That would be Lucy Vandenberg, who presided over COAH when it imposed quotas on NJ municipalities based on data and analysis that she admitted (in my presence on more than one occasion) was so flawed as to be worthless. She will retain her $115,000 salary.

CAMDEN — A city watchdog is outraged that Mayor Dana Redd wants to double the top maximum salaries for three jobs.

The top salary for mayoral aides would jump to $150,000 from $71,000. Redd also wants to raise the maximum salaries for city attorney and mayor’s counsel, though not as drastically.

Her spokesman said the bigger salaries are needed to attract a qualified and experienced staff.

via Camden Mayor Dana Redd seeks to double aide pay | New Jersey Real-Time News – - NJ.com.

Camden just went back to running its own affairs after years of state stewardship. That decision may have been a tad premature.

EAST RUTHERFORD — The stalled Xanadu project here may get a different name and different look if its owners can secure $500 million in construction funding from Billionaire Stephen Ross, according to a report in NorthJersey.com.

The report said Ross’s Related Companies real estate firm is in negotiations with Xanadu developer Colony Capital. The talks are aimed at getting the $2 billion retail project set for an opening late this year.

via Xanadu may get different name if $500M funding deal is set, report says | New Jersey Real-Time News – - NJ.com.

New name will be “Xana-doodoo”.

A report given to Gov. Chris Christie suggested that five heavily traveled New Jersey Highways could become targets for tolls so the state’s Transportation Trust Fund does not run out of money, according to a report in The Daily Record.

The Jan. 22 report said tolls will be considered for Route 78, Route 80, Route 195, Route 287 and Route 295. Revenue from the state’s gasoline tax will just cover an estimated $895 million debt payment that must be made by the fund in July 2011.

via Report says tolls will be considered for N.J. Routes 78, 80, 287 | New Jersey Real-Time News – - NJ.com.

I spend approx. 70% of my waking life on those 5 roads. Time to increase the debt limit on my EZPass.

Anyone care to assess the impact on local town and county roads?

Since tomorrow is Groundhog Day, the National Holiday of Deja Vu, it would be appropriate to make a bet on how many Corzine proposals will make their reappearance under Christie, over and over and over again…

Back on their heels after losing the governor’s office for the first time in eight years, state Democrats tonight chose a new leader to guide the party.

Assemblyman John Wisniewski (D-Middlesex) was elected chairman of the Democratic State Committee, a role requiring fundraising, grassroots organizing and vocal opposition to Republican Gov. Chris Christie. He was unanimously selected by committee members to serve a two-year term.

via N.J. Democrats select Assemblyman John Wisnewski as state party chairman | New Jersey Real-Time News – - NJ.com.

Assemblyman Joe Cryan quits before he is fired. Wisniewski is from Middlesex County, which went Republican in the last election.

Gov. Chris Christie has nominated Sussex County freeholder Hal Wirths to head the Labor Department and former prosecutor Lori Grifa to take over the Community Affairs Department.

Both nominations are subject to Senate confirmation.

via Gov. Christie nominates heads of N.J. labor, community affairs departments | New Jersey Real-Time News – - NJ.com.

There is something apropos of having the head of the DCA live in a town with 37,000 people and a $200 million debt. (Montclair.)

As members of his own administration search for new jobs — and the incoming governor tries to fill his cabinet — Gov. Jon Corzine today signed a law permitting former state officials to go to work for companies that do business with casinos.

via N.J. Gov. Corzine signs bill changing waiting period for state officials to take casino jobs | New Jersey Real-Time News – - NJ.com.

This should come in especially handy for state Supreme Court “Justice” Roberto Rivera-Soto. He was a hired flack for the casino lobby before McGreevey appointed him to the court. Since his term is up during the Christie administration, hopefully he’ll be sent packing back to Atlantic City.