Morning News Digest: Friday, November 21, 2008

Corzine says state workers face givebacks and possibly job cuts

With the state budget shrinking by more than 10 percent, state workers face a daunting menu of furloughs, wage givebacks — and possibly job cuts, Gov. Jon Corzine said during the League of Municipalities convention in Atlantic City yesterday. (The Star-Ledger)

Jersey pension fund down 20 percent in four months

TRENTON — Losses in the stock market have knocked New Jersey's pension investment funds from $82 billion last June to less than $58 billion now, prompting one state senator to call for twin probes into how the funds lost so much money. (Gannett)

Corzine OKs deferring pension payment

ATLANTIC CITY — Gov. Jon S. Corzine announced Thursday that he will let counties, municipalities and school districts temporarily defer 50 percent of the payment due next April into the public employee pension system. (Gannett)

Obama bundler says he lost $25B of state pension funds

A New Jersey pension fund run by one of Barack Obama’s earliest and biggest campaign fundraisers/bundlers has lost $25 billion — including $9 billion in October, according to a report issued today by a state panel. The New Jersey Investment Council, chaired by hedge fund manager Orin Kramer, says that the value of the state pension fund has shrunk from $82 billion in July to $57 billion. (

Court: State went too far on beach rules

State environmental officials overstepped their authority by demanding control over municipal beach hours and requiring additional parking and public restrooms as a condition for towns to receive beach replenishment sand, a state appeals court ruled in a second major setback for the state's waterfront public access rules. (Gannett)

Stile: State mayors get gloom, doom, and a sideshow

The hottest table in Atlantic City on Wednesday was operated by Paterson Mayor/Carnival Barker Jose "Joey" Torres. (Charles Stile, The Bergen Record)

Governor's race could be very ugly

If it’s Corzine versus Christie for governor next year, both parties agree on one thing at least: the contest will get ugly, with bruising attacks emanating out of both camps. (

Sandoval running again

Sources in the City of Passaic say real estate developer Jose Sandoval is gathering forces to launch another run for mayor. (

Karrow announces state Senate bid

Assemblywoman Marcia Karrow (R-Flemington) announced this morning that she will run for the state Senate seat in the 23rd Legislative District. (

Hoboken's landlords may pass tax along

HOBOKEN – Hoboken renters who think they are safe from the 47 percent property tax hike announced a few weeks ago could be in for a rude awakening. (Amy Sara Clark, The Jersey Journal)

Lawmaker urges action on school building

TRENTON — A local politician is urging the governor to expedite state-funded construction efforts in the city school district, saying delays in several key projects has caused students to suffer. (Lisa Rich, Trenton Times)

Brown's departure opens third Evesham seat

EVESHAM — Deputy Mayor Chris Brown has announced he'll step down from his seat on the township council on Dec. 31, a day before he's sworn in as a Burlington County Freeholder. (Bridget Smith, The Courier-Post)

Clerks group wants to join ORPA lawsuit in Paramus

PARAMUS — The Municipal Clerks Association of New Jersey has criticized a borough lawsuit against clerk Ian Shore as an attempt to circumvent the state law that governs access to public records. (Stephanie Akin, The Bergen Record)

Morning News Digest: Friday, November 21, 2008