Category Archives: Economy

The building, nearing completion, stands on the former site of Dorn's Photography and several old houses. The developer of The Metropolitan, a 37-unit condo project on Wallace Street in Red Bank, will auction off 31 of them at deeply slashed...

HOV HQ on West Front Street, Red Bank. A near stoppage in mortgage lending drove Hovnanian Enterprises to its ninth consecutive quarterly loss in the period ending October 31, the Red Bank-based homebuilder reported yesterday. According to Bloomberg, the loss...

It's hitting the gut now. The spreading economic crisis is leaving tens of millions of Americans facing the prospect of hunger as they contend with diminished earnings or joblessness and worse. According to one estimate, more than 35 million Americans...

The axe has fallen in an expected third round of job cuts this year at the Asbury Park Press, with unconfirmed reports that the entire Trenton bureau was fired and the department that produces art & graphics for the news...

An empty storefront on West Front Street. Spurred by surging unemployment and dwindling consumer sales, Red Bank officials are organizing an an economic "summit" of sorts for business owners and residents to brainstorm ideas to help the borough buck the...

Lest we forget, Red Bank is still in its centennial year, and reminders of that milestone continue to pop up now and again. The latest is the above video, shot and produced by four students, aged 14 to 17, who...

"It's something that affects all of us. It's not just a Wall Street bailout," says Jan Gardiner, of Locust. Today's Washington Post reports the results of a poll that finds voters deeply divided over the terms of the government's $700...

Councilman Mike DuPont's initiative got enough votes for introduction, including one from Councilwoman Sharon Lee, though she said she disagreed with its punitive thrust and could not support adoption. A proposed ordinance that might have put Red Bank in a...

Homebuilder Hovnanian Enterprises, based in Red Bank,posted its eighth consecutive quarter in the red, reporting a net loss of $202.5 million for the fiscal quarter ended July 31. The loss equated to $2.67 per share, compared with a loss $1.27...

Citing "deteriorating business conditions," Gannett Co, the owner of the Asbury Park Press, eliminated 120 positions at six New Jersey newspapers yesterday. Among the affected publications are the Press, the Home News-Tribune in East Brunswick and the Daily Record in...

The scene on Broad Street at the 2006 edition of the event. By TOM CHESEK There was that friend of ours who found a shrink-wrapped, never-played, original 1963 pressing ( released the day JFK was shot) of the Phil Spector...

By SUE MORGAN Never mind that 'farewell forever' send-off held last year at Donovan’s Reef. The legendary Sea Bright landmark is sticking around and kicking up sand a bit longer. Today's lackluster real estate market has benefited regulars of the...

The company's headquarters overlooking the Navesink River. Red Bank-based national homebuilder Hovnanian Enterprises saw its second-quarter losses increase elevenfold from last year as land valuations and revenues plunged again amid what Dow Jones calls "the worst housing downturn since the...

First robin's-egg-blue nest on the left: the future home of Pierre Deux. The Red Bank-area home furnishings market is about to get a touch of provincial France — and landlord Larry Garmany is about to make a sweetheart match for...

The Asbury Park Press is among four Gannett Co. newspapers in New Jersey that laid off a total of 55 employees yesterday, the Press itself reports. The axe fell after half of 166 workers offered early retirement three weeks ago...

Councilwoman Grace Cangemi says residents should have warnings before nearby hydrants are flushed, resulting in discolored water flowing through taps. Some highlights from last night's bimonthly meeting of the Red Bank council: TEACHERS OF THE YEAR: In addition to primary...

Today's Asbury Park Press has a story about efforts by Red Bank and Fair Haven to cut their trash-disposal expenses, one by curtailing pickups for non-profits and the other by having the schools fend for themselves. In Red Bank, where...

The plunge in Shore-area real estate values that's been underway for almost two years is showing signs of abating, today's Asbury Park Press reports. From the story: Home prices in the area that includes Monmouth and Ocean counties were essentially...

The R-FH Euro challengers: from left, Sam Wilson, Robbie Trocchia, Margot Keale, Steven Fuschetti and Jennifer Lapp. If you think understanding the U.S. economy is a brain-buster, try overlaying its complexity with currency exchange rates, European history and social trends...

Hovnanian Enterprises says it is tripling its forecast for positive cash flow this year to $300 million from earlier "guidance" given to investors. The announcement came with this morning's report by the publicly traded homebuilder, based here in Red Bank,...