Enterprise 2Q 2013

NEW JERSEY CHAMBER OF COMMERCE

www.njchamber.com

a quarterly focus on the people and the issues that drive New Jersey business 2Q 2013

THE ROCK TURNS 5

How the Prudential Center Arena and the N.J. Devils are Changing Newark  PAGE 16

Also, is Devils Goalie Martin Brodeur the Best Ever?  PAGE 20

Also Inside:  The Chamber’s New Chairman  A Guide to ‘ObamaCare’  Sen. Lautenberg’s Legacy

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table of contents

cover story 16 Newark’s Deal

with the Devils As the Prudential Center arena celebrates five years, the Devils owners talks about bringing crowds to New Jersey’s biggest city.

20 Is Devils Goalie Martin Brodeur the Best Ever?

PHOTO BY GETTY IMAGES

Focus on: financial services 06 Sandy is Gone, but she Complicated Relationships

between Businesses and Lenders

08 In Sandy’s Wake, a Mediation Program to

Resolve Disputes with Insurers

news 12 ParenteBeard-N.J. Chamber Poll:Most Business

Leaders Support Re-Election of Gov. Christie

events 15 Second Annual NJ Chamber Golf Challenge

Attracts More Than 100

26 Sandy Recovery Chief Makes Rare Public

Appearance at NJ Chamber Breakfast

28 Last Year, Gov. Christie Signed 80 Bills into Law –

higher education/training 22 At a High School Near You:

10

the Fewest in 170 Years

Higher Graduation Standards

features 04 Message from the President Sen. Lautenberg’s Legacy

23 PricewaterhouseCoopers Invests $160M for

10 How ObamaCare Will Impact

Financial Literacy Education in Schools

Your Company

14 The Heroes of Superstorm Sandy 24 Your Voice in Trenton

Meet the N.J. Chamber Government Relations Team

25 PSEG’s Ralph Izzo is the

Chamber’s New Chairman

30 News Makers

28

president’s message

BY THOMAS A. BRACKEN

Senator Lautenberg’s Legacy There was talk that Sen. Frank Lautenberg would announce his retirement at the New Jersey Chamber of Commerce’s Congressional Dinner in Washington back in January. But retiring was not his style.

When he took the podium in front of 900 N.J. Chamber members at the dinner, he delivered a typical Lautenberg speech – sharp, enthusiastic and punctuated by tongue-in-cheek remarks aimed at his political rivals. There was not even a hint of retirement. This spirited speech may have surprised some, but not those who knew him. Like a true New Jerseyan, Lautenberg never shied from a fight.

As midnight approached that evening in the hallways outside the ballroom, he chatted with constituents about issues that affected New Jerseyans and Americans everywhere – including Sandy recovery and gun control. All the while, he brushed off his young staff members who gently suggested it was time to go home.

The Congressional Dinner was one of Sen. Lautenberg’s last public appearances. A few weeks later, at age 89 and having recently battled a series of ailments, he announced – reluctantly – he would not seek a sixth term.

Four months after that, on June 3, while still a member of the Senate, Sen. Frank Lautenberg passed away. He was the oldest member of the U.S. Senate and the last of 115 World War II veterans to serve there.

There is much we can learn from Sen. Lautenberg’s story because he embodied the American dream, and the American dream is something we believe in here at the New Jersey Chamber of Commerce.

It is the ability of any American, no matter how modest his or her beginnings, to turn hard work into prosperity.

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The son of immigrants who grew up poor in Paterson, Lautenberg served in World War II, went to Columbia University on the G.I. Bill, founded Automatic Data Processing (ADP), which is now a Fortune 500 company, and became New Jersey’s longest-ever serving U.S. senator.

He never forgot where he came from.

That was evident in his causes.

He fought to preserve health insurance for thousands of children; he pushed to reimburse military families who bought body armor for their loved ones serving in Iraq; he modernized the G.I. Bill; and was the chief proponent of the ban on smoking in airplanes. He earned a reputation as a champion of the people.

He also was a tireless advocate of strengthening Amtrak, which helped position New Jersey as an economic force and helped make us one of the wealthiest states in the nation.

Lautenberg's schedule slowed considerably in his final weeks as his health declined. Still, he remained a strong advocate for the state’s economy, as he pushed for passage of federal aid after Sandy.

Lautenberg and the business community didn’t always see eye to eye, but the Senator was always eager to communicate with us. In January 2012, when time constraints at our Congressional Dinner compelled us to eliminate his speaking slot, Lautenberg reached out to us immediately. Not being able to address the gathering of New Jersey CEOs

Sen. Frank Lautenberg at the N.J. Chamber’s Congressional Dinner in 2013. It was one of his last public appearances.

PHOTO BY: Russ Desantis

and business owners was troubling to him, he said. He had always enjoyed the opportunity.

This year, we were gladly able to restore his time slot at our dinner, and he seized the moment, even through difficult health.

It was clear that the senator cared very much about the issues and the people of New Jersey. It was clear being a U.S. senator was a job he loved. It was clear that he didn’t want to retire.

As fate would have it, he never did.

Sen. Lautenberg’s legacy was a deep one. He will be long remembered for living the American dream and long admired for making New Jersey a better place for us all. He was a true New Jerseyan and one who loved our great state. ❖

Thomas A. Bracken President and CEO New Jersey Chamber of Commerce

CHAMBER STAFF

Thomas A. Bracken President and CEO

Dana Egreczky Senior Vice President, Workforce Development

Michael Egenton Senior Vice President, Government Relations

Alfonso Romeo Director of Member Services

Ray Zardetto Director of Communications

Scott Goldstein Communications Manager and Enterprise Editor

Ric Principato Interactive Designer

New Jersey Chamber of Commerce Staff

216 West State Street Trenton, N.J. 08608 Phone: (609) 989-7888 www.njchamber.com

N.J. Chamber Events October 9 The New Jersey State Chamber of Commerce Legislative & Business Awards Reception 6 p.m. to 9 p.m., Wyndham, Mount Laurel October 23 New Jersey Chamber of Commerce Forum 2013: An Evening with Morning Joe (Scarborough) 5 p.m., Pines Manor, Edison December 5 New Jersey Chamber Holiday Party Calandra’s Italian Village, Caldwell For more information, go to www.njchamber.com.

NJCC Board of Directors Officers Chairman

Ralph Izzo Chairman and CEO Public Service Enterprise Group Inc.

GROW. WISELY.

First Vice Chair

Amy B. Mansue President & CEO Children’s Specialized Hospital Second Vice Chair

Robert Doherty New Jersey State President Bank of America Treasurer

Howard Cohen, CPA Chairman EisnerAmper LLP Secretary

Robert Podvey Director Podvey Meanor Immediate Past Chair

Jeffrey C. Scheininger President Flexline/U.S. Brass & Copper Corporation

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Let’s get down to business.

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ENTERPRISE 2Q 2013 | 5

focus on financial services

The Third Wheel SANDY IS GONE, BUT SHE COMPLICATED RELATIONSHIPS BETWEEN BUSINESSES AND LENDERS

BY DIANA LASSETER DRAKE

Superstorm Sandy’s calling card for the 19,000 businesses it struck boils down to this: Property damage, inventory losses, and fear of lost relationships with once reliable customers. Now another question has emerged: How has all this uncertainty altered the relationship between these businesses and their lenders?

“The criteria haven’t changed in terms of who qualifies for loans,” said John E. McWeeney, president of the Cranford-based New Jersey Bankers Association. “The only variable is property values. What kinds of appraisal values are we going to see for applicants who are in areas hit by Hurricane Sandy? How do you appraise property when you might have a street with a couple houses standing and the others knocked down?”

Complicating matters is the requirement in some shore towns to raise homes and businesses by several feet.

Then there’s the difficulty some businesses are having with securing or affording flood insurance, says Ken Orchard, New Jersey regional president for TriState Capital Bank in Lawrenceville.

All this gives lenders pause.

Orchard tells the story of a client that suffered flooding after Sandy.

“Fast forward six months and they have a loss of inventory of $1.5 million,” he said. “We are doing a new deal and want the inventory insured for flood, but [companies] can’t get flood insurance. How as a banker do I mitigate that risk? They absorbed it once and we made a loan to them to

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BRENDA ROSS DULAN

ROBERT DOHERTY

JOHN MCWEENEY

KEN ORCHARD

help them out, but you can’t keep doing that. It impacts the bottom line of the company and our decision to lend to that company.”

Some banks are finding other ways to infuse capital into the business community. “Countless mom-andpop businesses were reeling from the loss of inventory, foot traffic and damage to their businesses,” said

Robert Doherty, New Jersey State President, Bank of America. “Many of them don’t qualify for traditional bank financing. We gave $20 million to our community development financial institution partners as an interest-free investment, and they put the money where it is most needed.”

For many banks, the aftermath of Sandy is unprecedented and requires case-by-case attention. “We haven’t had experience with this kind of tragedy,” says Bob Young, senior vice president and business banking market manager for PNC Financial Services in East Brunswick.“You can’t take a cookie-cutter approach.”

For instance, Wells Fargo reached out to its clients after Sandy. “We looked at whether or not they needed a temporary increase in their lines of credit or whether we needed to look at a lower interest rate or payment relief,” said Brenda Ross Dulan, Southern New Jersey regional vice president for Wells Fargo.

The bottom line is that New Jersey banks are well-capitalized, liquid and want to lend money, says McWeeney of the Bankers Association. “Businesses need to go in to their banks and tell their story,” he said. “Explain what happened and the prospects going forward. Generally speaking, bankers are going to be open-minded and want to support you. If you have outstanding loans, let the bank know your situation.

Don’t try to hide things.” ❖

focus financial services

Of 500,000 private insurance claims filed by New Jersey businesses and residents in the aftermath of Sandy, 95 percent have been settled to the tune of $3.7 billion, said state Banking and Insurance Commissioner Kenneth Kobylowski at a N.J. Chamber roundtable breakfast on May 24.

PHOTO BY: Ric Principato

For 25,000 Disputed Insurance Claims in the Wake of Sandy, the State Creates a Mediation Program The state has kicked off a mediation program that will help business owners and residents resolve disputes with their private insurers over claims related to Superstorm Sandy, New Jersey Department of Banking and Insurance Commissioner Kenneth Kobylowksi told New Jersey Chamber of Commerce members at a Roundtable Breakfast on May 24.

There are currently 25,000 outstanding claims, according to Kobylowski. “This is an efficient way to settle claims without expense and time-consuming litigation.

We encourage everyone to spread the word,” he said.

Resolving claims is particularly critical because a business or resident does not qualify for federally-funded

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grants until the applicant’s insurance claims are closed, Kobylowski said.

Overall, he continued, insurance companies “are doing a good job” closing cases. Of 500,000 private insurance claims filed by New Jersey businesses and residents in the aftermath of Sandy, 95 percent have been settled to the tune of $3.7 billion, he reported.

The non-binding, two-hour mediation program is optional for policyholders, but, when requested by the holder, the insurance company is obligated to participate and pay for the mediation, Kobylowsik said.

Policyholders can mediate homeowner’s, automobile and commercial insurance claims related to Sandy, including business interruption claims, when the disputed amount is $1,000 or more. FEMA and National Flood Insurance programs are not eligible for this mediation program. ❖

The stretch becomes the realistic

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Š 2013 PwC. All rights reserved. PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details. This content is for general information purposes only, and should not be used as a substitute for consultation with professional advisors.

guide to health care reform

‘ObamaCare’ Is Coming. But What is it Exactly?

AND HOW WILL IT IMPACT YOUR COMPANY?

BY ALICIA BROOKS WALTMAN

The debate is over. Next year, all Americans will be required to have health insurance, and employers with 50 or more full-time employees will be mandated to offer their workers “affordable” and “minimum essential” health insurance policies. Employers can opt out of the mandate under the U.S. Affordable Health Care Act, but they would be forced to pay a tax, which some call a penalty.

Here’s the tricky part: The feds still haven’t issued precise rules on how to define terms like “affordable” and “minimum essential” coverage under the U.S. Affordable Health Care Act, leaving employers concerned and in many cases confounded.

In May, Enterprise asked several accounting firms that operate in New Jersey what companies can expect from these new regulations, and how to prepare for this monumental shift.

First, here is what we know: • The mandate applies to employers with 50 or more full-time employees during the previous calendar year. The law considers anyone who works at least 30 hours a week a full-time employee, and two 15-hour employees count as one full-time employee. The mandate would not apply to employers that exceed 50 employees for 120 days or less, and whose extra employees are considered seasonal workers.

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• While the federal government has yet to define the “minimum essential coverage” required under the law, it is expected that the law, in general, would require coverage for ambulatory care, hospitalization and emergency care, maternity and newborn care, mental health and substance abuse, prescription drugs, rehabilitative care, preventive and wellness care, and pediatric care.

• The law’s affordability provisions state that an employee’s contribution to the premium may not exceed 9.5 percent of the employee’s income, but exactly how “income” is determined is still up in the air. Is it salary? Is it all income?

• If a company fails to offer employer-based coverage, the company could be subject to an annual penalty of $2,000 for each of its full-time employees that receives governmentsubsidized insurance through the government insurance exchange, minus the first 30 employees.

• Employers whose coverage is deemed unaffordable or lowvalue could be subject to an annual penalty of $3,000 for each full-time employee that receives government-subsidized insurance through the government insurance exchange.

• In New Jersey, a federal health care “exchange” will provide a marketplace for businesses with fewer than 50 employees and individuals to buy competitively priced health insurance. Some experts are saying large companies will eventually be able to purchase on the exchange, too.

“A lot of the regulations haven’t been written yet, and the story is yet to be told,” said Howard Cohen, chairman of EisnerAmper. “We tell our clients to be in constant touch with their insurance broker as this evolves.”

Many companies are working to determine if they have the 50 or more full-time employees that subjects them HOWARD COHEN to the law, said Kimberly Duffy-Wylam, president and managing partner of Vantagen, a human resources consulting company owned by accounting firm ParenteBeard. They are asking this: What exactly is a full-time employee under this law?

While a full-time position is defined as 30-hours per week, questions arise for industries that are seasonal, such as holiday or summer employees who work for just a few months a year. (The status of seasonal employees is generally determined by their yearly hours averaged over 12 months.) Also under the new law, businesses must offer benefits within 90 days of hiring a new employee, said Duffy-Wylam.

Despite the changes and uncertainty, Duffy-Wylam said most of her client businesses are renewing their current coverage. And she doesn’t think that many companies, with their

reputation in mind, will drop health insurance. “I don’t believe employers want to be known as a company that is paying penalties rather than offering health benefits,” she said.

Sheryl Coughlin, Head of Research for Deloitte Center for Health Solutions, said her company’s 2012 survey of large companies found that only 9 percent of employers that offer health insurance were considering dropping it.

The ever-rising cost of health insurance premiums has long been a concern for employers, though that rise has slowed over the last few years. According to a study by the Kaiser Family Foundation, employer-sponsored healthcare premiums rose just 4 percent on average in 2012.

Parts of Obamacare are designed to contain costs. Timothy Speiss, chairman of Personal Wealth Advisors Practice of EisnerAmper, said the law’s limits on insurance company profits and new government oversight of rate increases should help.

The law is spurring innovation in health care as providers scramble to contain costs, said Dave DeMarco, Northeast Life Sciences Leader at Ernst & Young. “The most important innovation may be the increased number of people with insurance,” DeMarco said.

Just how that innovation will play out for New Jersey businesses and workers is what everyone is waiting to see. ❖

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ENTERPRISE 2Q 2013 | 11

focus on news

Strong Majority of Business Leaders Support Governor Christie’s Re-Election Bid MEANWHILE, BUSINESS EXECUTIVES ARE CAUTIOUSLY OPTIMISTIC AFTER SANDY

BY ALICIA BROOKS WALTMAN

As New Jersey’s gubernatorial election approaches, two out of three business owners and executives say they either will or probably will vote to re-elect Gov. Chris Christie this November no matter who the Democrat candidate is, according to a recent ParenteBeard-New Jersey Chamber Business Climate Survey of business leaders.

And, according to the survey, the business leaders indicated they will likely vote “no” on a ballot question proposing a state minimum wage hike because it includes perpetual annual increases based on the consumer price index.

Exactly 66 percent of respondents in the survey said they will either definitely or probably vote for Gov. Christie in the gubernatorial election no matter who the Democrat candidate is, while only 9 percent said the same thing about the Democrat’s nominee.

While 71 percent of respondents indicated they do not support a minimum wage increase that includes automatic annual increases tied to the consumer price index, they did not necessarily disapprove of raising the state’s minimum wage. The seven in ten respondents said they prefer a specific increase phased in over three years. The minimum wage question also will appear on the statewide ballot in November.

“Because Gov. Christie, with help from the Democratic-controlled Legislature, has supported the pro-growth policies that the business community has advocated for years, it’s no surprise that support for him is so overwhelming,” said Thomas A. Bracken, president and CEO of the New Jersey Chamber of Commerce.“As for the minimum wage, an annual increase based on the consumer price index is a bad idea for everyone. It makes it difficult for businesses to plan year to year and it could lead to raises in years when the economy is suffering. Further, making it a ballot question in the form of a constitutional amendment sets a bad precedent for resolving contentious issues that should be decided by our representatives in Trenton.”

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The Economy When respondents were asked about New Jersey’s economy as a whole, they expressed optimism – 52 percent said the state’s economy will fare moderately or much better over the next 12 months. In the Chamber’s fall survey, taken shortly after Superstorm Sandy hit, only 45.5 percent of respondents answered that way.

Respondents did express some concern when they were asked about their own companies’ profitability. Last fall, 50 percent of respondents said they believed their companies’ profitability would increase over the next year. Now only 44 percent believe that. Last fall, only 22 percent foresaw their companies’ profits decreasing. Now 36 percent said they foresee profit decreases.

Jobs With regard to the state’s jobs picture, nearly three quarters (74.5 percent) of respondents expect the number of jobs in their industries to stay the same or increase over the next 12 months. That’s up from 72.8 percent in the fall.

Survey Details The biannual New Jersey Chamber of Commerce-Parente Beard Business Climate Survey is designed to measure the outlook of the state’s business leaders, ranging from single entrepreneurs to CEOs of Fortune 500 companies in a wide array of fields. A total of 107 business leaders participated in the survey between April 2 and May 3. Most said they are presidents and CEOs, or senior level executives.

Complete results can be found at www.njchamber.com. ❖

BUSINESS EXECS SAY SANDY HASN’T ALTERED THEIR PLANS TO VISIT THE JERSEY SHORE

The immediate future of Jersey Shore tourism received mixed news in the ParenteBeard - New Jersey Chamber Business Climate Survey.

Three quarters (77 percent) of respondents believe it will take New Jersey two or more years to fully recover economically from Sandy. But 72 percent of respondents said the storm has not affected their plans to visit the Jersey Shore this summer, and 10 percent said the storm made them more likely to visit the Shore.

“Many areas hit by the storm have already reopened or will re-open for the summer,” said Walter Brasch, managing partner for ParenteBeard’s New Jersey Metro Region. “This is good news, considering the state and our beach towns are working hard to drive home the point that the Jersey Shore remains a great place to vacation. The results of our survey suggest that the ‘Jersey Shore is Open for Business’ publicity campaign is working.”

ENTERPRISE A QUARTERLY FOCUS ON THE PEOPLE AND THE ISSUES THAT DRIVE NEW JERSEY BUSINESS

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Feature

Heroes of the Storm

PROFILES FROM THE N.J. CHAMBER’S SUPERSTORM SANDY HERO PROJECTS The New Jersey Chamber of Commerce has established the Superstorm Sandy Hero Project, to document every heroic act in the wake of Superstorm Sandy. We collected inspirational stories from people all over New Jersey. The project’s mission is to recognize the heroes, and to preserve these memories so generations can remember the true grit New Jerseyans exhibited during the Storm of 2012. To read all the stories in the project and to submit the story of your hero, go to www.njchamber.com. Here are some excerpts: My Hero: Larry Inserra Hometown: Saddle River Submitted by: Assemblywoman Holly Schepisi Larry is the owner of the chain of ShopRite supermarkets. In the aftermath of Hurricane Sandy, Bergen County sheltered evacuees at the County Police and Fire Academy in Mahwah. Larry opened his supermarkets to the relief effort, telling them to bring the trucks down and take whatever they needed from the store shelves at no charge. There was no publicity on this. He simply did it out of kindness.

He truly is one of the many unsung heroes who came to the fore after Hurricane Sandy.

My Hero: Tracey Keelen and Jay Gehweiler Hometown: Brick Gov. Chris Christie’s State of the State Address, January 8 Tracey Keelen and Jay Gehweiler watched as the flood waters consumed their town. Concerned about Jay’s father, they tried to reach him and could not. Not content to wait, they put on their wet suits, got in their row boat and rescued Jay’s dad.

In the process, they saw dozens of others stranded in their homes. They turned back around and, one by one, saved over 50 of Jay’s father’s neighbors, along with their pets.

Then, for those they rescued who had no place to go, they housed them as well. They admitted they did not know these neighbors that well before the storm, but they didn’t care – they put extending a helping hand in a crisis ahead of social comfort. Thank you to Tracey and Jay for saving lives and making a difference.

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Leo Cervantes lost his restaurant, Chilangos, after the storm. The next day, he volunteered to cook at a shelter.

My Hero: Tina Iervolina Hometown: East Hanover Submitted by: Scott Waulters Tina helps UnitedHealthcare members get medical supplies as part of her job as director of long-term services. When Tina saw the destruction of Jersey shore communities, she and four of her employees volunteered to work directly with victims through the RAINE Foundation.

During eight long days of volunteering, Tina and her crew, which sometimes included her 22-year old-daughter, made and delivered thousands of sandwiches, sorted food for distribution, organized a grocery store, and set up and moved many shelters.

For her tireless hands-on work to help people, and her leadership on the front lines, Tina Iervolino is a Sandy Hero.

My Hero: Leo Cervantes Hometown: Highlands Submitted by: Alex Aristizabel Leo lost his restaurant, Chilangos, after the storm.

The next day, he went to a shelter to cook for those who lost their homes. He has always been a wonderful guy. A few years ago, after Hurricane Irene, he invited anyone who was hungry to his house to eat. Leo is now trying to rebuild his restaurant. ❖

focus on events

The Second Annual NJ Chamber Challenge is a Success On and Off the Golf Course The ping of driver meeting golf ball. The smell of fresh cut grass. The chirping of birds. And a beautiful golf course with temps hovering near 70 degrees. This was the setting for the second annual NJ Chamber Golf Challenge on May 6. One hundred and eight business leaders plied their skills on 18 holes at the elegant Bedens Brook Club in Skillman.

Awards were presented to the top performing foursomes, but it was the networking that took place – at brunch, on the course and finally at an awards reception – that made the day a success. “This was a great way to get to know each other better and to network with people representing diverse interests,” said Tom Bracken, president and CEO of the New Jersey Chamber of Commerce. “We’re going to add a few twists and we’ll do it again next year.”

In addition to 18 holes of golf and the networking contacts, each participant received a series of gifts, including a custom-fit FootJoy glove, a golf shirt and a framed photo of his or her foursome as a keepsake.

The Chamber Challenge trophy, etched with the names of each year’s champions, remains on permanent display at the New Jersey Chamber of Commerce headquarters in Trenton.

A special thank-you to Garden State Development, the golf outing’s premier sponsor. Additional thanks to event sponsors Constellation, Barnabas Health, Capital One and Xerox; and to Ernst & Young for sponsoring the golf shirts. ❖

ENTERPRISE 2Q 2013 | 15

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Facing page: Patrik Elias, the Devils all-time goal scoring leader.

PHOTO BY: Getty Images

Newark's Deal With

The Devils As the Prudential Center Arena Celebrates Five Years, The Devils Owner Talks About Bringing Crowds to New Jersey’s Biggest City

INTERVIEW BY SCOTT GOLDSTEIN The Prudential Center in Newark had a banner year in 2012, playing host to sold-out shows by Bruce Springsteen, Carrie Underwood, the Red Hot Chili Peppers and The Rolling Stones. Its anchor tenant, the New Jersey Devils hockey team, went all the way to the Stanley Cup finals – selling out every playoff game. No wonder the arena – nicknamed “The Rock” – was named the sixth busiest in the United States on Pollstar’s list of 2012’s top arenas. The Rock reported it sold a record 500,000 tickets to nonsports events last year.

In 2013, as The Rock celebrates its fifth anniversary, it expects another record-breaking year, even with the Devils disappointing season on the ice. This is good economic news for Newark, which has seen bars, restaurants, a hotel and office space sprout around The Rock since it began attracting crowds in 2008.

On April 25, Enterprise magazine talked to Jeffrey Vander-

Jeffrey Vanderbeek

beek, the owner of the Devils and the chairman of arena manager Devils Arena Entertainment. Vanderbeek, once a Devils season ticket holder, discussed the arena’s success, its impact on Newark and the difference between being a season ticket holder or an owner.

ENTERPRISE: What’s more fun, being a season ticket holder or the owner?

VANDERBEEK: (Laughs) It depends on if we are winning or losing. They are both very fulfilling. There’s a lot that goes into owning a franchise. It’s not only the team. There’s the arena and with that comes a lot more than hockey. Both are very fulfilling. continued on page 19

ENTERPRISE 2Q 2013 | 17

The Prudential Center is home to Seton Hall basketball.

THE SUITE LIFE: BUSINESS AND PLEASURE

It’s not just about the action on the ice and the stage at the Prudential Center. There is action in the luxury suites that ring the arena as New Jersey corporations are hobnobbing with clients, prospects and stakeholders.

Verizon New Jersey has been bringing clients and prospects to its suite at The Rock since the arena opened, says Samuel Delgado, vice president of external affairs for Newark basedVerizon New Jersey.

“Sharing an experience like a hockey game or a concert or a basketball game allows you to connect with people” Delgado said. “That’s where you get cell phone numbers, email addresses and call-back numbers. That’s where you develop relationships, break down barriers.”

It beats meeting in board rooms or on conference calls, he said. “It helps when you are marketing a product or you have a service you want to promote or you have an issue that needs to be addressed,” he added.

There are 75 corproate suites at the arena. Verizon’s 20-person suite provides food, drink and access to every event at the Prudential Center. It was hopping recently for Fleetwood Mac and Rihanna concerts, as well for Ultimate Fighting.

Verizon New Jersey also hands out tickets to its suite to reward good employees and to provide nonprofits with access to events. “It’s a special atmosphere for folks to enjoy themselves and enjoy a common interest,” Delgado said. “It’s a place people want to go.”

Jennifer Lopez kicked off the U.S. leg of her 2012 tour at The Rock.

The Rolling Stones 50-year reunion tour opened at the Rock last year.

PHOTOS COURTESY OF THE PRUDENTIAL CENTER

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ENTERPRISE: Especially fulfilling when the Devils win, I

ENTERPRISE: Speaking of the NCAA Tournament, the NCAA

assume.

has said it would no longer bring tournament games to New Jersey if the state continues its push to legalize sports gambling. What are your thoughts on this issue?

VANDERBEEK: No comment.

VANDERBEEK: Yes, the Devils have made playoffs 21 out of the past 23 years, made the finals five of the last 17 years and won three championships. Generally between the Devils and the Detroit Red Wings, those are considered the two franchises with the greatest success in the last [three decades].

ENTERPRISE: How do you measure the arena’s success?

VANDERBEEK: We’ve hit two milestones since opening. We have passed 10 million [visitors], and this year alone we will actually have over 3 million, the first time we will hit that annual mark. And we have been ranked one of the Top 10 arenas in each of the last two years, and we expect to be in the Top 10 again this year. A yardstick we look at is attendance for our anchor tenant, the Devils. This year, we are on pace to have record attendance, having sold out 18 of our 21 home games.

ENTERPRISE: How many and what kind of events are planned for 2013?

VANDERBEEK: We will have 200 events [including Devils games] in 2013. On the schedule are Fleetwood Mac, Rihanna, UFC Championship Fights, the NHL Draft, Special Olympics Opening Ceremonies, and we will host Media Day the Tuesday before the Super Bowl. We are also home to all the Seton Hall [Basketball] games. We had the East Regional NCAA Basketball Tournament games here in 2011 and outdrew [other regional venues that year] in New Orleans, San Antonio and Anaheim.

ENTERPRISE: Let’s put it this way, will NCAA tournament games be back at The Rock?

VANDERBEEK: We certainly hope so.

ENTERPRISE: What makes The Rock unique?

VANDERBEEK: We spent a lot of time designing it. The design team visited over 20 arenas throughout the nation and we tried to pick up on [the most appealing aspects]. We have a great anchor tenant with the New Jersey Devils. We are in a metropolitan area with a [large] population and we are in close proximity to railroad, bus stops and Newark Airport, which makes us second to none as far as accessibility. Half of our attendees come by some mass transportation.

ENTERPRISE: What impact does the arena have on the Newark economy?

VANDERBEEK: There are a dozen restaurants in the immediate vicinity of the arena that weren’t here before. Anybody can walk up Edison Place [on event days] and see a street now closed to traffic with thousands of people in restaurants and bars. The $35 million Courtyard by Marriott is the first new hotel in Newark in 40 years and a second hotel is getting set to open. There’s Panasonic Tower [Panasonic’s 10-story North American Headquarters]; Prudential Tower [an office building that has been announced]; and across the Continued on next page

Bruce Springsteen and the E Street Band played The Rock on May 2, 2012.

The Prudential Center expects to host 200 events this year.

ENTERPRISE 2Q 2013 | 19

street is Teachers Village [a mixed-use development under construction to feature three charter schools, a day care center, retail and apartments for teachers]. There’s a heck of a lot going on and heck of a lot more to come.

ENTERPRISE: Still, some have been disappointed by the pace development around The Rock. Has the economy been a factor?

VANDERBEEK: The economy is and was a factor. In the end, it takes a while. We are going on five years here and in the midst of our five years was this huge economic downturn.

That being said, Mayor Cory Booker announced that 40 percent of all new construction in New Jersey right now is being done in Newark.

ENTERPRISE: How many corporations have purchased suites in the arena?

VANDERBEEK: There are 75 corporate suites that come in various shapes and sizes and two party suites that can hold 45. Fifty corporations have parts of those suites. And we bring them events like the Rolling Stones and the Stanley Cup Finals. There has been a lot of entertaining here. A lot of companies have developed a nice game-night tradition.

ENTERPRISE: To what do you attribute the arena’s success?

VANDERBEEK: People like good entertainment. The Devils are New Jersey’s team, the only professional team willing to put “New Jersey” on its crest and chest. We win, we pay a lot of attention to our fans and we had arguably the best schedule of acts of anybody and any place. ❖ Scott Goldstein is the communications manager for the New Jersey Chamber of Commerce.

NEW JERSEY’S FAVORITE (CANADIAN) SON

DEVILS GOALIE MARTIN BRODEUR: BEST OF ALL TIME ?

MARTIN BRODEUR: NHL RECORD BREAKER • Most regular season wins: 669 • Most regular season shutouts: 121 • Most playoff shutouts: 24 • Most 40-win seasons: 8 • Most 30-win seasons: 14 • Most games played by an NHL goaltender: 1,220 (also most played with only one team) • Only NHL goalie to score a game-winning goal

20 |

Not only is the New Jersey Devils’ Martin Brodeur one of the best goalies in the history of the National Hockey League (NHL).

He may be the most accomplished athlete to ever play on a professional team based in the Garden State. He is in the conversation with greats like Lawrence Taylor of the Giants, Curtis Martin of the Jets and Bernard King of the Nets.

Consider this: Brodeur is the NHL’s all-time leader in regular season wins, shutouts and games played – and the 43-year-old Montreal native will extend those records next season when he returns to guard the goal for the Devils at the Prudential Center in Newark.

Brodeur, a two-time gold medal winner with the Canadian Olympic Team, has been a 10-time allstar for the Devils. He has backstopped the team to five trips to the Stanley Cup Finals, three resulting in Stanley Cup championships. His name is engraved on four Vezina Trophies (the award given at the end of each season for best goalie), and five Jennings Trophies (which goes to the goalie or goalies who played at least 25 games for the team with the fewest goals scored against it). He also won the Calder Trophy for being the league’s best rookie in 1993.

Brodeur is the youngest goal-

tender in NHL history to reach the 300, 400 and 500 regular season win plateaus, and is the only goaltender to reach 600 regular season wins (his win total stands at 669).

Here’s some perspective: Though there hasn’t been a new NHL expansion team in 12 years, Brodeur still has more career wins than seven NHL franchises, including a couple of Stanley Cup winners.

He has even scored three goals, a record among goalies – including one in a playoff game and one that was a game winner. Brodeur’s prowess at puck handling forced the NHL to change its rules limiting where and how goalies are allowed to handle the puck.

Brodeur, who lives in West Orange, became a naturalized United States citizen on Dec. 1, 2009, and he loves playing in New Jersey. When he became a free agent last year, it would have helped his bargaining position to say he was willing to bolt to another team in another state. But the hockey great told reporters he couldn’t imagine playing for a team other than the Devils.

We can’t imagine it either.

Martin Brodeur is an adopted son of New Jersey, and we are proud of him.

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focus on higher education

This is Not Your Father’s High School

HIGHER GRADUATION STANDARDS, TOUGHER ASSESSMENTS FOR STUDENTS

BY DANA EGRECZKY

Are the young adults you interview for job openings equipped with the skills they need to succeed at your company? More and more, employers are saying entry-level candidates either aren’t ready to perform the job, or they exhibit little potential to advance.

Colleges are running into similar problems. An alltime high number of incoming students at New Jersey’s two- and four-year colleges and universities need remediation courses. The results: Most full-time college students take longer than three years to earn a two-year degree, and almost half take six years to earn a four-year degree.

To remedy this, the New Jersey Department of Education has adopted higher academic standards that high school students must meet and tougher assessment tests they must pass before they can graduate. This is good for the business community. These new rigorous standards will produce students who are prepared for ultra-competitive college admissions, and ultimately prepared to be part of the highly skilled workforce the state’s employers demand in this global economy.

Of course, there is one predictable problem with these new standards for high school students. More students will fail to graduate, and backlash from parents will be loud and strong.

High school teachers and principals need the business community to stand behind them as they try to convince teenagers that working harder in school now

22 |

will not only get them past high school, but will lead to acceptance at competitive colleges and, eventually, highpaying jobs.

It’s a message that every student needs to hear. With that goal in mind, the New Jersey Chamber of Commerce Foundation has introduced a new program that invites business executives to help drive home the “work hard now” message to high school students. For a $2,500 contribution from the business executive or business owner, the Chamber Foundation staff will arrange for the business leader to deliver a wake-up call and encouragement to students in ninth-grade assemblies in a high school of his or her choice, perhaps his or her own alma mater.

Chamber Foundation staff will contact the school, arrange the assembly, issue media alerts and acknowledge your sponsorship on www.WorkforcePosse.org. In addition, thanks to your support, the school will receive use of the Chamber’s unique motivational curriculum and training. ❖ Dana Egreczky is president of the New Jersey Chamber of Commerce Foundation. If you’d like to participate in the program, call the chamber at (609) 989-7888 and ask to speak with any member of the Foundation staff.

WHAT IS THE N.J. CHAMBER OF COMMERCE FOUNDATION?

The New Jersey Chamber of Commerce Foundation is dedicated to maintaining and improving New Jersey’s high-quality workforce. Finding strong employees is important to all employers in the Garden State, and employee preparation is critical in a global economy in which most jobs require special training or college diplomas.

The foundation focuses on improving the workforce readiness curriculum in public schools; increasing employment opportunities for qualified people with disabilities; and stemming the shortage of nurses and nursing facilities in New Jersey. With the support of New Jersey businesses, the foundation also gets involved in the advocacy and policy work that will produce a New Jersey workforce that can thrive in an increasingly competitive economy.

PriceWaterhouseCooper Invests $160 Million Toward Financial Literacy Education in U.S. Schools The professional services firm PwC is investing $160 million for teacher training and to develop a set of lessons for students in third grade through high school to learn financial literacy, including topics such as income, credit, identity theft and saving money. The program is expected to reach more than 2.5 million U.S. students and educators over the next five years.

“Today, financial literacy isn’t baked into the core curriculum of many of our education systems,” said PwC New Jersey Market Managing Partner B.J. Agugliaro. “We go into classrooms, get in small groups, and use professionally developed materials – and some personal experiences – to make financial situations real for the kids. It’s not a presentation, but a B.J. Agugliaro more personalized conversation.”

In addition to the curriculum, PwC collaborated with the Wharton School of Business to host an annual, threeday learning experience for teachers to deepen their knowledge on the topics and help them bring the financial curricula to their classrooms.

The firm’s $160 million investment – $60 million in cash donations and $100 million worth of service hours – over the next five years establishes the Earn Your Future program. “When talking about the program, I’m often asked, ‘What’s in it for PwC?’” said Agugliaro. “It’s about creating a more solid foundation of financial responsibility. Our children need to know how to manage money and understand the consequences of spending money they don’t have. It’s about heightening financial awareness.

It will prepare a young adult for the realities ahead of them.”

For more information on PwC’s Earn Your Future program, visit www.PwC.com/us/corporateresponsibility. ❖

The Smith family-owned ACE Hardware store in Egg Harbor Township, NJ

WE HELP NEW JERSEY GROW MORE THAN JUST ITS To find out how the NJEDA can connect you with the financing you need, call 609-858-6700 today or visit us online at businesslending.NJEDA.com.

The New Jersey Economic Development Authority, the state’s bank, supports small- and medium-sized businesses with access to financing and incentives they need to reach their goals. The NJEDA has lending resources designed to grow your business in the Garden State. Let us help you succeed, just like the Smith family. © 2012 New Jersey Economic Development Authority.

ENTERPRISE 2Q 2013 | 23

Features

Your Voice in Trenton

MEET THE N.J. CHAMBER GOVERNMENT RELATIONS TEAM From our headquarters across the street from the State

Matt Malat Matt is director of government relations, a lobbyist concentrating on economic development, budget issues and health care. Prior to coming to the N.J. Chamber, he worked as a legislative aide for Senator Anthony R. Bucco, specializing in state budget issues. Matt also was the senior legislative aide to the late Assembly Republican Leader Alex DeCroce.

House, the N.J. Chamber of Commerce's staff of lobbyists and researchers works every day to promote pro-growth legislation and reforms that are in the interest of our members and the economy. Our ultimate goals: Create jobs, and foster a New Jersey that is more competitive and business friendly.

The government relations team spreads the message that government needs to exhibit the same fiscal responsibility as the private sector, and that spending cuts must be considered before tax increases.

Our team recently fought back a water tax proposal.

We are pushing hard for a state budget that contains no new tax increases. And we are championing the Economic Opportunity Act of 2013, which streamlines many of the tax incentive programs offered by the state to stimulate job creation into a single program, while expanding the number of companies eligible for these tax breaks.

We continue to advocate for a simpler process for gaining state permits and promote measures that bring relief to businesses affected by Superstorm Sandy.

There is no time to rest. To join the fight, call us at (609) 989-788 and tell us you want to join the New Jersey Chamber of Commerce.

Meet the Team Michael Egenton Michael is senior vice president, government relations. He is the Chamber's chief lobbyist and focuses on environmental, transportation, energy, labor, and government reform issues.

Prior to coming to the N.J. Chamber, Michael worked at New Jersey Institute of Technology analyzing environmental statutes, rules and regulations. He also was the project director and principal author of Modern Forms of Municipal Government, a report published by the New Jersey State Commission on County and Municipal Government.

24 |

Abideen Onigbanjo Abideen is an associate in government relations. He is a lobbyist concentrating on Superstorm Sandy recovery efforts, tort reform and education, while assisting on economic development and labor issues. Abideen is admitted to practice law in New Jersey and the U.S. District Court of New Jersey. Before joining the N.J. Chamber staff, Abideen attended the College of William & Mary where he earned a joint degree in law and business.

Jonathan Scharff Jonathan is a policy researcher. Before he joined the N.J. Chamber, he served as an intern at the Policy Division of the New York City Council, where he researched and analyzed initiatives related to the economy, workforce development and transportation. â?–

PSE&G’s Ralph Izzo is the Chamber’s New Chairman He’s a scientist, a former policy maker and a businessman.

And now Ralph Izzo is the chairman of the New Jersey Chamber of Commerce Board of Directors. The move was confirmed by the Chamber Board on June 4. Izzo, the chairman and CEO of Public Service Enterprise Group Inc. (PSEG), is serving a two-year term.

Izzo had been serving as the N.J. Chamber’s first vice chair for the past two years and has been a member of the Chamber’s board of directors since 2003.

“The state Chamber of Commerce has been an effective advocate for the business community and a strong proponent of a pro-growth agenda since its founding in 1911,” Izzo said. “I want to ensure the Chamber carries on this tradition. To do that, we Ralph Izzo must ensure New Jersey’s tax structure is competitive, our schools are second to none, our power and transportation infrastructure is fully modernized and innovation is cultivated in large and small companies alike.”

Izzo succeeds Jeffrey C. Scheininger, president of Flexline/U.S. Brass & Copper Corporation, whose twoyear term featured vigorous promotion of business legislation that has helped New Jersey’s economy recover in the wake of a recession.

Izzo is the third executive in the last 25 years from PSE&G to serve as chairman of the New Jersey Chamber.

E. James Ferland was chairman from 1993 to 1995 and Alfred C. Koeppe served as chairman from 1999 to 2001.

In fact, PSE&G is a founding member of the New Jersey Chamber. Thomas N. McCarter, the founder and first president of what was then known as Public Service Corporation of New Jersey, signed the N.J. Chamber charter in 1911. Anthony R. Kuser, a vice president at Public Service, also signed the charter.

Izzo began his career as a research scientist at the

Princeton Plasma Physics Laboratory and served as an advisor to then Sen. Bill Bradley and New Jersey Gov. Thomas H. Kean.

Izzo was elected chairman and CEO of PSEG in April 2007. He was named as the company’s president and COO and a member of the board of directors of PSEG in October 2006.

Under Izzo’s leadership, PSE&G has been named America’s most reliable utility five out of the last eight years. In recent years, PSEG has become known for its clean energy investments in its power plants. The company’s New Jersey utility has invested $1 billion to expand access to energy efficiency and renewable solar power in the state.

“We are extremely fortunate to have Ralph’s leadership and business acumen at this critical time,” said Thomas A. Bracken, president and CEO of the State Chamber. “We have seen progress in restoring New Jersey’s economic health, but to continue that momentum, New Jersey must be a leader in technological innovation and preserving the environment. And for those issues, there can be no better leader than Ralph.” ❖

The New Jersey Chamber of Commerce Board of Directors also confirmed the slate of officers for the 2013-2014 term.

First Vice Chair – Amy B. Mansue, president and CEO of Children’s Specialized Hospital Second Vice Chair – Robert Doherty, New Jersey State president, Bank of America Treasurer – Howard Cohen, chairman of EisnerAmper LLP Secretary – Robert Podvey, director of Podvey Meanor Immediate Past Chair and Nominating Committee Chairman – Jeffrey Scheininger, president, Flexline/U.S. Brass & Copper Corporation

ENTERPRISE 2Q 2013 | 25

focus on news

Governor’s Sandy Recovery Chief: ‘WE RECOGNIZE BUSINESSES CAN’T WAIT’

BY SCOTT GOLDSTEIN

Marc-Philip Ferzan, the executive director of Gov. Christie’s office of Recovery and Rebuilding, said he had barely settled in his new office in the State House when New Jersey Chamber President Tom Bracken dropped by to appeal for grants, not low-interest loans, for businesses destroyed or affected by Superstorm Sandy.

“Tom and others said, ‘You have to have grants,’” Ferzan recalled at a roundtable breakfast April 24. “Businesses are not in position to take on debt.”

“We recognize businesses can’t wait,” Ferzan added.

“Tom told us that.”

Since then, the state proposed and has begun accepting applications for small business grants of up to $50,000 and no-interest loans of up to $5 million for business affected by the storm (see sidebar on the next page for more information). The programs, which rely on federal funds, was approved by the U.S. Department of Housing and Urban Development (HUD).

“We want to get money on the street as soon as possible,” Ferzan said. The HUD approval unleashed a first wave of federal relief, a total of $1.8 billion, to New Jerseyans who have sustained damage to their homes and

businesses, as well as local governments in towns hit hard by the storms.

Ferzan was the guest speaker at the N.J. Chamber’s Breakfast Roundtable, a rare public appearance for the Christie administration cabinet member heading the state’s monumental task of recovering and rebuilding after Sandy.

“No state budget is designed or equipped to handle a disaster of this magnitude,” Ferzan told Chamber members. More than 40,000 homes and 15,000 rentals suffered significant damage during the storm, said Ferzan, citing new data. There was $500 million in commercial property damage and business interruption losses, and $25 million in infrastructure damage, he said.

Ferzan’s office was created in November so the state has a single point man for the storm recovery. He said his office’s responsibilities include developing priorities for the state; lobbying for federal funds and the ability to use them with flexibility; identifying areas where the state could cut red tape to encourage rebuilding; balancing short-term needs like temporary housing and debris removal with long-term recovery; dealing with several federal bureaucracies with different cultures and leaders; and rebuilding so New Jersey could better withstand future storms.

Ferzan ticked off signs of recovery progress: The re-

Jack Miller, president and COO of Solix Inc.; Marc-Philip Ferzan; and Tom Bracken, president and CEO of the New Jersey Chamber of Commerce.

PHOTOS BY: Ric Principato

26 |

construction of essential roadways like Route 35; the reopening of New Jersey Transit and PATH rail lines; and beach replenishment in towns like Belmar, Sea Bright and Lavallette.

Since being appointed by Gov. Christie on November 28, Ferzan said he has been offered “good luck” wishes by many friends and acquaintances. “But I can assure you, Gov. Christie and his team are not relying on good

luck,” Ferzan said. “We are working hard, setting goals and working together to achieve them. This is a forwardlooking process.”

Thank you to Solix Inc. for sponsoring the breakfast. ❖ Scott Goldstein is the communications manager at the New Jersey Chamber of Commerce.

A PRIMER ON THE STATE’S $50K SANDY RECOVERY GRANTS

Businesses can apply for Superstorm Sandy recovery grants of up to $50,000 at the website of the New Jersey Economic Development Authority. www.njeda.com. Small businesses and nonprofits struck by the storm can use these “Stronger New Jersey Business Grants” for working capital or new construction.

For more information about the program, contact the NJEDA Office of Recovery at 1-855-SANDY-BZ or StrongerNJBusines@njeda.com.

Grant program overview: ✓✓Small businesses and non-profits may apply for grants and forgivable loans of up to $50,000. Businesses with multiple locations in New Jersey may receive more than one grant, totaling no more than $250,000.

Vincent Maione, president of the Atlantic City Electric Company, and former Gov. Jim Florio chat at the breakfast.

✓✓The entity must be considered a “small business” as defined by the U.S. Small Business Administration, and have more than $25,000 but less than $5 million in gross operating revenues. ✓✓Applicants must show each location sustained at least $5,000 in damages. ✓✓Grants are eligible for working capital (operating expenses), inventory, equipment, machinery, fixtures, furnishings and construction. ✓✓Priority will be given to applicants located in the nine most impacted counties: Atlantic, Bergen, Cape May, Essex, Hudson, Middlesex, Monmouth, Ocean and Union.

N.J. Chamber’s Breakfast Roundtable on April 24 was a rare public appearance for Ferzan, the Christie administration’s appointee heading the state’s task of recovering and rebuilding after Sandy.

ENTERPRISE 2Q 2013 | 27

focus on news

N.J. Chamber Cornerstone New Jersey Event LAST YEAR, GOVERNOR CHRISTIE SIGNED FEWEST NUMBER OF BILLS INTO LAW IN 170 YEARS

BY SCOTT GOLDSTEIN

Gov. Chris Christie signed 80 bills into law last year, the fewest number of laws New Jersey has adopted in any year going back 170 years, Christie’s Chief of Staff Kevin O’Dowd said at an exclusive breakfast for New Jersey Chamber of Commerce Cornerstone members on May 22.

The small number of new laws is a source of pride for the Christie administration. “We are standing up to the Legislature and telling them we are not going to sign bills that we don’t believe in,” O’Dowd said.

Added Charles McKenna, the governor’s chief counsel, “Back in the 1770s, we were a new nation and we needed laws. We are 230-plus years old now. Enough of the laws.”

At the breakfast, O’Dowd, McKenna and their top deputies gave brief presentations, held a question-andanswer session and stayed for one-on-one conversations with 33 Cornerstone New Jersey members to discuss crucial issues like the state budget and taxation. The event was held outdoors among the beautiful Gardens at Morven Museum and Garden in Princeton.

The Christie administration staff members stressed that reducing red tape in New Jersey is a priority.

Over the first 40 months of Gov. Christie’s tenure in the

Walter Brasch, managing partner for the New Jersey Metro Region, ParenteBeard; Jack Miller, president and COO of Solix; and Bill Hagaman, CEO and managing partner, WithumSmith+Brown.

State House, Christie signed 440 bills into law, O’Dowd said. In the previous four years, under Gov. Jon Corzine, 950 bills were signed into law, O’Dowd said.

“We are working hard to reduce the regulatory burden,” O’Dowd told the Cornerstone New Jersey members.

The New Jersey Administrative Code – 7,000 pages long in 2007 – is now 3,000 pages long, he said.

“We are making strides to make New Jersey more business friendly,” McKenna added, “so you can continue to do business here and we can attract more business to the state.”

Other pressing issues in Trenton, according to Chief of Staff O’Dowd, include adopting the state budget, passing an income tax cut that would appear on property tax bills as a credit, Sandy recovery and rebuilding efforts, choosing projects for state-funded capital investment projects at colleges and universities, finalizing the University of Medicine and Dentistry of New Jersey-Rutgers-Rowan merger, preparing for the Super Bowl in January, hospital closings and their conversions to privately-run institutions, supporting the casino industry, and the impact on New Jersey of the federal government’s sequestration budget cuts.

Also attending the event were Paul Matey, the governor’s deputy chief counsel; Louis Goetting, the gover-

Arthur Herrmann, vice president, New Jersey government affairs, Prudential Financial; Robert Tartaglia, vice president, government relations JPMorgan Chase Bank; and Jim Benton, executive director, New Jersey Petroleum Council.

PHOTOS BY: Scott Goldstein

28 |

nor's deputy chief of staff; and Deborah Gramiccioni, the governor's deputy chief of staff for policy.

Cornerstone New Jersey members participate in special programs offering them unprecedented access to the state's political and business leaders and insights into the trends and issues impacting business. For more information on how your company can join the Cornerstone program, call Al Romeo at (609) 989-7888 ext.147 or email him at aromeo@njchamber.com. ❖

Mark Danielle, partner, McCarter & English, and Gov. Christie’s Chief of Staff Kevin O’Dowd.

Kurus Elavia , president and CEO, Gateway Group One; Blenda Riddick, director of corporate and government affairs, United Airlines; and Ana Sciara, executive director, Gateway Group One.

Gov. Christie’s Deputy Chief of Staff for Policy Deborah Gramiccioni and John Spinello, partner, K&L Gates.

The breakfast event was held outdoors among the beautiful Gardens at Morven Museum and Garden in Princeton.

Dmitri Siegel, director of state government relations-northeast region, Celgene, and Gov. Christie’s Chief of Staff Kevin O’Dowd.

ENTERPRISE 2Q 2013 | 29

news makers

DIAHANN LASSUS

DONALD LYNCH

THE NEW JERSEY CHAMBER OF COMMERCE added 10 new members to its board of directors: John P. Cole, executive vice president, Wells Fargo; Yvette Donado, chief administrative officer and senior vice president, Educational Testing Service; Kurus Elavia, CEO, Gateway Group One; David Erfert, manager, Bayway Refinery for Phillips 66; James V. Fakult, president, Jersey Central Power & Light; Richard M. Maser, president, Maser Consulting; Carlos Medina, chairman, Statewide Hispanic Chamber of Commerce of New Jersey and president, Robinson Aerial Surveys; Francois Nader, president and CEO, NPS Pharmaceuticals; Ken Philmus, senior vice president, Xerox; and Timothy Tracy, New Jersey office managing partner, Ernst & Young.

Don Lynch, a member of the New Jersey Chamber of Commerce board of directors, retired as president of JERSEY CENTRAL POWER & LIGHT. Lynch is retiring after 37 years with the Morristown-based utility. He is succeeded by James V. Fakult, formerly president of Maryland operations, and a new member of the N.J. Chamber’s board of directors.

Diahann W. Lassus, president of LASSUS WHERLEY in New Providence, N.J., and Bonita Springs, Fla., was named among the “30 Most Influential” by the National Association of Personal Financial Advisors. The honor goes to those who have advanced the concept of fee-only financial planning.

PUBLIC SERVICE ELECTRIC & GAS COMPANY (PSE&G) and TRINITAS REGIONAL MEDICAL CENTER completed more than $3.7 million worth of energy efficiency upgrades.

The improvements were made possible through the PSE&G Hospital Efficiency Program, a $129 million effort by New Jersey’s oldest and largest gas and electric utility that is helping 29 hospitals to better manage energy consumption.

COMCAST upgraded 144 miles of infrastructure supporting the Jersey

30 |

Shore communities hardest hit by Superstorm Sandy and announced newly renovated service centers with increased staffing and weekend hours.

ATLANTIC CITY ELECTRIC presented $50,000 to the American Red Cross Southern Shore Chapter in support of Red Cross disaster relief. The presentation was made during the Red Cross’s Hurricane Sandy Appreciation Event.

CAPITAL ONE committed $1 million to LIFT, a national organization working to help families facing tough times achieve economic stability and well-being in the United States.

FULTON BANK OF NEW JERSEY donated food and a check for $4,200 to the Community Food Bank of New Jersey in Egg Harbor.

HORIZON BLUE CROSS BLUE SHIELD OF NEW JERSEY was named one of DiversityInc magazine’s “Top Ten Regional Companies” for the third consecutive year.

SOUTH JERSEY INDUSTRIES was recognized as a Platinum Level Fit Friendly Worksite by the American Heart Association for helping employees eat better and move more. Platinum level employers offer employees physical activity options in the workplace, offer healthy eating options and demonstrate measurable outcomes related to workplace wellness.

THE VERIZON FOUNDATION has pledged $100,000 to assist victims of the Oklahoma tornadoes, and will match employee contributions to the American Red Cross, Save the Children and the Salvation Army.

QUALCARE CEO Annette Catino was named a finalist for the Ernst & Young Entrepreneur of The Year 2013 Award in the New Jersey region.

The awards program recognizes high-growth entrepreneurs who demonstrate excellence in innovation, financial performance and personal commitment to their businesses and communities. ❖

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Building On Common Ground

Financial Incentives for Energy Efficiency

In Our Restaurant Most of the time, we’re too busy preparing food to think about our energy bills. Direct Install paid 70% of the cost to replace our old refrigeration and air conditioning equipment and to install high efficiency lighting throughout the kitchen and dining area. The impact on our bottom line really caught our attention.

That’s A Recipe For Success.

To get your share of the incentives and savings, visit NJCleanEnergy.com/DI or call 866-NJSMART to speak with a program representative.

Recover, restore, and rebuild after Hurricane Sandy. Visit NJCleanEnergy.com/SANDY to learn about enhanced incentives for homeowners, government officials and business owners including all new rebates for commercial food service equipment.