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Post by admin on Sept 27, 2007 16:26:30 GMT -5
I have not found this in the news on the web, yet, but I have heard that Assemblywoman Beck and Sean Kean are suing Corzine in an attempt to gain access to the study that was done on the selling of the Turnpike.
A couple of months ago, I attended a town Hall meeting hosted by Beck on this subject. It was informative and with all of the people attending, clear that the sale of our state roads is a very bad idea.
There are allegations that Corzine is not very open about the study on this subject which has really raised a lot of eye brows.
I look forward to reading about this alleged suit in the news.
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Post by cheryl on Sept 27, 2007 17:13:32 GMT -5
from last month @ www.politicsnj.com/todays-news-politicsnj-com-11121ALL MONETIZATION, ALL THE TIME
“Republican lawmakers said yesterday they will sue to force Gov. Jon Corzine to release a key study related to his plan to borrow billions of dollars that would be repaid with higher state highway tolls.
Three GOP members of the Assembly Transportation Committee demanded Corzine release an $800,000 study -- conducted by Steer Davies Gleave of London -- of the revenue-raising potential and traffic on four state roadways.
"In the spirit of transparency, you must trust members of the Legislature and the public to review the consultant's final reports and recommendations, which we have all paid $800,000 to produce," Assemblymen Kevin O'Toole (R-Essex) and Sean Kean (R-Monmouth) and Assemblywoman Jennifer Beck (R-Monmouth) wrote in a letter to the Democratic governor.
They said unless they obtain the consultant's "uncensored" study, not a final version rewritten by administration officials, they plan to file a lawsuit……………
Corzine's plan to "monetize" state assets already has cost the public $4.6 million in consulting fees. He has said he will release the full details when the complex plan is ready. Few expect it to be unveiled before the Nov. 6 election.
While the governor has been stingy on details, he has ruled out turning control of state highways over to private operators. Instead, he intends to form a nonprofit public corporation to issue billions of dollars in bonds that will be repaid with higher tolls on the highways.” (Donohue, Star-Ledger) The Ledger pulls content from the site after 2 weeks, but the full article may be floating around in the blogosphere (try Technorati) or Google's cache. IIRC, the "comply, or else..." deadline they gave Corzine was at the end of August. |
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adefonzo
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Post by adefonzo on Sept 27, 2007 18:44:49 GMT -5
Brian...I remember that Town Hall meeting as well. I remember Jennifer Beck saying that the governor slipped into the budget a provision that would provide him with an unspecified amount of money to do conduct these studies and consult these "experts". It sounded like a bottomless pit that night, and it still does today.
I also recall Assemblywoman Beck mentioning something about the fact that when they (Committee on Transportation and Public Works) asked the governor back then for the information he had been gathering he stone walled them. Apparently, there was some law allowing the executive of the state the right to basically ignore requests from the legislature. I mentioned it to one of Jennifer's staff that night...as the legislative branch, they have the power to introduce a bill that would take back that power...I doubt they have considered it.
But what really troubles me is the time it takes to get anything done. That town hall meeting was...what...3 months ago??? They're still waiting for these results??? They should have thrown the lawsuit at the Governor a long time ago.
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Post by admin on Sept 27, 2007 21:24:00 GMT -5
Brian...I remember that Town Hall meeting as well. I remember Jennifer Beck saying that the governor slipped into the budget a provision that would provide him with an unspecified amount of money to do conduct these studies and consult these "experts". It sounded like a bottomless pit that night, and it still does today. I also recall Assemblywoman Beck mentioning something about the fact that when they (Committee on Transportation and Public Works) asked the governor back then for the information he had been gathering he stone walled them. Apparently, there was some law allowing the executive of the state the right to basically ignore requests from the legislature. I mentioned it to one of Jennifer's staff that night...as the legislative branch, they have the power to introduce a bill that would take back that power...I doubt they have considered it. But what really troubles me is the time it takes to get anything done. That town hall meeting was...what...3 months ago??? They're still waiting for these results??? They should have thrown the lawsuit at the Governor a long time ago. Andrew, that was a good town hall meeting. I came out of that meeting against the sale of our roads. Everything I have read since also causes me to not support it. I do recall Beck talking about how secretive the Governor has been. You are right, they probably should have thrown the law suit at the Gov a long time ago. The question I have about the toll roads is what about the tow contacts and concession contracts? Who would deal with those if the state leased the roads? That right there could be a lot of cash for a private contractor. |
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Post by admin on Sept 28, 2007 4:48:50 GMT -5
www.app.com/apps/pbcs.dll/article?AID=/20070928/NEWS/709280427GOP sues to obtain toll road plan data Gov has withheld consultant's report Posted by the Asbury Park Press on 09/28/07 BY GREGORY J. VOLPE GANNETT STATE BUREAU TRENTON — Republican lawmakers sued Thursday to get a copy of a consultant's report on the state's toll roads that is part of the Corzine administration's study of whether to financially leverage state assets. The Treasury Department last month denied a request made under the state's Open Public Records Act to see a report made by transportation consultant Steer Davies Gleave that lists traffic and toll revenue data and projections, saying it was incomplete and was "advisory, consultative and deliberative." The lawsuit contends the report was finished last spring because the consultant has collected all $887,838 it was due from the state. It also argues that if the report contains deliberative material, those portions could be redacted without shielding the whole report. It suggests the Treasury Department is withholding the report because it could embarrass the administration. "Its embarrassment or concerns about how some people may use the information, data and scientific-based projections contained in the denied report does not amount to a lawful reason to deny the public an opportunity to review it, nor does it give rise to heightened protections under the deliberative process privilege," the suit reads. Treasury spokesman Mark Perkiss said the department doesn't comment on litigation. Gov. Corzine's administration has long been studying whether to "monetize" state assets — an unknown plan that likely hinges on borrowing money from investors that would be repaid through future toll hikes. The governor has refused to release the plan before November's legislative elections, saying federal officials are reviewing it. The administration has linked the plan to building schools, buying open space and reducing debt, but critics — including members of both parties — fear it will lead to higher debt, increased tolls and more congestion on non-toll roads. "Time is of the essence," said Assemblyman Sean Kean, R-Monmouth, who fears Corzine and the Democrat-controlled Legislature will approve a plan during the lame-duck session without public debate. Assemblywoman Jennifer Beck, R-Monmouth, added, "This data should be vetted with the state Legislature and the public before this proposal to sell the (New Jersey) Turnpike or (Garden State) Parkway moves forward." Assemblyman John Wisniewski, D-Middlesex, chairman of the transportation committee and an opponent of the monetization plan, has a posting on his campaign Web site demanding an open process for the plan. "Keeping secrets is not the way to develop good public policy," Wisniewski writes. But he wouldn't join the Republicans in calling for the report to be released. This is the second lawsuit Republicans have filed after being denied a record requested from the Corzine administration. Party state Chairman Tom Wilson is in court trying to get copies of e-mails exchanged between Corzine and labor leader Carla Katz, his former girlfriend.
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adefonzo
Junior Member
If I can see further than some, it's because I have stood on the shoulders of giants
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Post by adefonzo on Sept 28, 2007 11:21:04 GMT -5
www.app.com/apps/pbcs.dll/article?AID=/20070928/NEWS/709280427Assemblyman John Wisniewski, D-Middlesex, chairman of the transportation committee and an opponent of the monetization plan, has a posting on his campaign Web site demanding an open process for the plan. "Keeping secrets is not the way to develop good public policy," Wisniewski writes. But he wouldn't join the Republicans in calling for the report to be released.This is the second lawsuit Republicans have filed after being denied a record requested from the Corzine administration. Party state Chairman Tom Wilson is in court trying to get copies of e-mails exchanged between Corzine and labor leader Carla Katz, his former girlfriend. Jersey politics at it's best folks. The Assemblyman opposes the monetization of assets, he admits that "Keeping secrets is not the way to develop good public policy"...but stand against his Democrat Party Leaders??? Heck no!!! I am so sick and tired of politicians who will not go against the party line (both sides of the aisle) even when they do not believe in what their party is standing for. When in doubt, go to the dictionary...it's amazing what you'll find... Politician: a person engaged in party politics as a profession; a person primarily interested in political office for selfish or other narrow usually short sighted reasons Statesman: one who exercises political leadership wisely and without narrow partisanship There's the problem with government today...all politicians and no statesmen. God help us all. |
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Post by fiberisgoodforyou on Sept 28, 2007 11:30:13 GMT -5
www.app.com/apps/pbcs.dll/article?AID=/20070928/NEWS/709280427Assemblyman John Wisniewski, D-Middlesex, chairman of the transportation committee and an opponent of the monetization plan, has a posting on his campaign Web site demanding an open process for the plan. "Keeping secrets is not the way to develop good public policy," Wisniewski writes. But he wouldn't join the Republicans in calling for the report to be released.This is the second lawsuit Republicans have filed after being denied a record requested from the Corzine administration. Party state Chairman Tom Wilson is in court trying to get copies of e-mails exchanged between Corzine and labor leader Carla Katz, his former girlfriend. Jersey politics at it's best folks. The Assemblyman opposes the monetization of assets, he admits that "Keeping secrets is not the way to develop good public policy"...but stand against his Democrat Party Leaders??? Heck no!!! I am so sick and tired of politicians who will not go against the party line (both sides of the aisle) even when they do not believe in what their party is standing for. When in doubt, go to the dictionary...it's amazing what you'll find... Politician: a person engaged in party politics as a profession; a person primarily interested in political office for selfish or other narrow usually short sighted reasons Statesman: one who exercises political leadership wisely and without narrow partisanship There's the problem with government today...all politicians and no statesmen. God help us all. Nice touch Andrew~!~! |
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adefonzo
Junior Member
If I can see further than some, it's because I have stood on the shoulders of giants
Posts: 308
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Post by adefonzo on Nov 19, 2007 12:24:58 GMT -5
In another older thread that was never fully closed out, take a look below at the latest news on the suit filed against the Governor. Now remember, this suit was filed back in September, and here we are 1 1/2 - 2 months later...still nothing. MONETIZATION“Republicans suing to get a consultant's report on Gov. Corzine's plan to leverage state highways for a cash infusion say they need the information to prepare legislation that would restrict the administration's ability to "sell, lease, or monetize tolls," according to legal papers filed Thursday.
The briefs are part of a suit filed by two members of the Assembly Transportation and Public Works Committee, Jennifer Beck and Sean Kean, both R-Monmouth, after their public records request for a consultant's report was denied by the state Department of the Treasury, which deemed the report an incomplete draft.
The lawmakers' "inability to reference the facts, data and information in the final report places them at considerable disadvantage," the brief says. "There is no reason why important data, information and facts that can be used to help articulate or craft policy should remain hidden under lock and key within the offices of the executive branch."
The Office of the Attorney General, which declined comment on Thursday, has argued in previous filings that the report is exempt from the Open Public Records Act because it is still an advisory document and remains in draft form. Publicizing an unfinished document could mislead the public and investors, the state has argued.” (Volpe, Gannett)
www.app.com/apps/pbcs.dll/article?AID=/20071102/NEWS03/711020343/1007 |
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Post by fiberisgoodforyou on Nov 19, 2007 14:28:02 GMT -5
Gregg Says 'Asset Monetization' Will Exasperate State's Growing Debt
By scmysak - November 16, 2007 - 12:13pm
Tags: G. Gregg,
Release Date: November 16, 2007
Gregg Says 'Asset Monetization' Will Exasperate State's Growing Debt
New Debt Report Issued Today: NJ Deficit Topples $38 Billion
Assemblyman Guy Gregg said it is utterly ludicrous that Governor Jon Corzine is trying to sell his secret “asset monetization” plan as the solution to cutting New Jersey’s debt which was earlier today reported to have toppled $38 billion this year.
“Every year the new debt numbers are released and for the past six years they have painted the same picture – that of a state in a downward spiral into the pit of massive debt,” said Gregg. “Sadly, this year is no different. But instead of heeding warnings from state economists, Republican lawmakers and the public to stop the tax, borrow and spend insanity, the governor is adamant about keeping New Jersey on the fast track to bankruptcy with his new borrowing scheme.”
Gregg warned that the Corzine Administration’s massive monetization gimmick will result in the single largest debt issuance ever in the nation. He explained that the $16 billion the state will receive from investors, who will own future toll revenues of the state’s highways, will end up costing taxpayers a minimum of $40 billion in the long run, not to mention huge toll increases in the short term.
“The governor and his Democrat cohorts are essentially going to incur huge debt to pay off debt. There is absolutely no logic in that whatsoever,” said Gregg, R-Sussex, Morris and Hunterdon. “The only people who will benefit are Corzine’s paper-pushing Wall Street buddies who will sit in their plush Manhattan offices counting their money that’s coming directly from the pockets of New Jersey commuters and taxpayers.”
Corzine on Thursday pitched his proposal to sell the future revenues of the state’s transportation assets for a quick infusion of cash during a speech at the New Jersey League of Municipalities convention saying he will use it to cut state debt in half. His speech came one day before the Commission on Capital Budgeting and Planning reported that state debt now stands at a staggering $38.1 billion, an increase of $600 million from the year before.
Gregg, noting that next year’s budget is already facing a $3.5 billion deficit, said Corzine’s “monetization” plan is more proof that Democrats continue to ignore and dodge the root problem of New Jersey’s mounting debt which is over-spending and excessive borrowing. He added that, based on their track record, Democrats cannot be trusted to use the money from the plan to pay down state debt.
“Anyone who thinks this upfront money will be used to cut the state’s debt in half, as the governor claims, is fooling themselves. They are in for a sad awakening as we have seen time and again Democrats take funds intended for a specific purpose and diverted to some other program,” cautioned Gregg, a member of the Capital Budgeting and Planning Commission.
He noted that Corzine also promised to use this quick cash for the construction of new schools in Abbott Districts, repair of the state’s transportation infrastructure, widening of the N.J. Turnpike, open space acquisition and universal health care.
“So, which is it?” questioned Gregg. “Sixteen billion dollars is a lot of money, but when faced with a $38.1 billion debt service, you really don’t have much to work with. You cannot possibly pay half the debt and have funds for these other pressing issues as well. Asset monetization has ‘gimmick’ written all over it.”
Gregg pointed out that in 2004 former Democrat Governor Jim McGreevey not only hiked state spending 21 percent, but also attempted to borrow more than $2 billion in deficit bonds to balance the state budget. In 2005 Senate President and then acting Governor Richard Codey, D-Essex, tried to use $150 million from the sale of bonds by the New Jersey Tobacco Settlement Financing Corporation to do the same. The state Supreme Court, however, issued a ruling holding the practice unconstitutional.
“It is highly inappropriate to saddle future generations with paying off this debt because self-serving and irresponsible politicians refuse to get our fiscal house in order today,” said Gregg.
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adefonzo
Junior Member
If I can see further than some, it's because I have stood on the shoulders of giants
Posts: 308
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Post by adefonzo on Nov 19, 2007 14:33:51 GMT -5
why would we assume that the Governor would pay any attention to anyone when it comes to his policy making?? This is the same man who is going forward with the stem cell research facility despite having the question voted down on election day.
It's amazingly clear that Governor Corzine feels he has no responsibility to the people of New Jersey. This man has, in my opinion, literally gone off the deep end, and we as the tax paying residents of this state need to rise up and find a way to pull him from his lofty office in Trenton.
We can't afford to wait for his re-election, he needs to be taken out of power NOW
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Post by fiberisgoodforyou on Nov 19, 2007 15:57:34 GMT -5
Remember Grey Davis...
Again, with all of the global pharmaceuticals here in NJ, WHY DO I NEED TO FUND THIS WITH MY MONEY...UNLESS I AM A STOCK HOLDER....AND AGAIN, THERE IS A MASSIVE LUCENT BUILDING THAT IS EMPTY IN HOMDEL, WHY ARE WE BUILDING ANYTHING FOR THIS?
Hum, I wonder what Mr Corzine's Stock portfolio looks like....nhaaaa, never mind!
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