Category Archives: Economy

Agita continued to flow from Red Bank's proposed 21-percent budget increase last night as one resident lashed out at the borough council, another sought details on where purported spending cuts had been made, and elected officials blamed Trenton and Freehold...

Last November, redbankgreen ran a feature on the paucity of Democrats in Rumson, where no member of the party is believed to have won elective office in the borough's 101-year history. Now, two examples of "the rarest of species, which...

The borough council ordered up an appraisal on the disused borough parking lot at the foot of Maple Avenue last month, with an eye toward a possible sale. Pushback on Red Bank Mayor Pasquale Menna's plan to sell a disused...

RiverCenter's office is at 20 Broad Street. Last week, Red Bank RiverCenter executive director Nancy Adams presented the business-promotion organization's budget to the borough council. The spending plan, totalling $624,052, is 3.3 percent larger than the 2007 version. (Alas, RiverCenter...

Much as it was for other retailers, the late-2007 holiday shopping season was tough one for Tiffany & Co., which opened a store in Red Bank just as the season was kicking off. But even as its fourth-quarter profit shrank,...

SeaStreak, the ferry line that zips commuters to Wall Street and midtown Manhattan from docks in Highlands and Atlantic Highlands, appears to have found a white knight. The four-catamaran line's parent company, Sea Containers America Inc., confirmed today that it...

The Courtyard at Monmouth project, which exists only on paper, is on the block. Little more than a week after he won approval for plan to transform a grubby corner of Red Bank into a little hunk 'o Hoboken, would-be...

Two views of the disused borough parking lot at the foot of Maple Avenue that may come up for sale this year. Click to enlarge images. Hoping to trim a proposed budget that would otherwise sock property owners with a...

Red Bank officials last night introduced a proposed 2008-'09 budget that would increase the local portion of the typical homeowner's property taxes by $311.20 per year. The figure is just a starting point for several weeks of refining and public...

Red Bank Catholic and St. James Elementary School are about to see their trash-removal costs rise. Red Bank is tightening its fiscal belt, and non-profits that generate more trash than the typical household are about to feel the pinch. Last...

Red Bank-based Hovnanian Enterprises reported its sixth consecutive quarterly loss yesterday, this time a $131 million shortfall that was double the year-prior amount. The publicly traded homebuilder, which operates in 19 states, managed to sell more units in its lastest...

Oh, brother: this one's headed to Freehold. The Red Bank council has authorized Borough Attorney Tom Hall to file a suit against the Community YMCA over that organization's plan to sell the Children's Cultural Center, redbankgreen has learned. At issue,...

When the economy is, um, flush, and the infrastructure doesn't break down, Red Bank's water utility sometimes generates a surplus that gets poured into the general fund. That happened last year, when $300,000 was moved, offsetting the need for that...

The special assessments are being collected — and have been since last September. Now, Red Bank RiverCenter is moving to solicit input from business owners in the West Side expansion zone about how those funds might best be spent to...

Might there be another summer of cocktails on the beach after all? By LINDA G. RASTELLI For the second time in six months, the owners of Donovan's Reef are back to square one in their effort to sell the beachfront...

The Bistro's George Lyristis: "You can't always ask somebody else to fix the problem." Business is tough these days for many Red Bank restaurants. And it's not simply a matter of the winter blahs. The economy has soured. Would-be patrons...

A revaluation of property in Middletown that Monmouth County wanted effective this year won't be, today's Asbury Park Press reports. From the story: County officials are now probing why Middletown did not comply with an order from the Monmouth County...

This time three weeks ago, shares of Hovnanian Enterprises were at a seven-year low, trading below $5 apiece. Four dollars and eighty cents, actually, as of the close on Jan. 9. No doubt investors who'd bought the stock as it...

Ailing national homebuilding giant Hovnanian Enterprises saw its stock and debt downgraded by a major ratings agency yesterday, but investors bid the company's stock up neatly anyway. The price of a share rose 70 cents, or almost 12 percent, to...

Tiffany & Co., which opened much-anticipated new store on Broad Street in November, saw sales in its American stores that had been open a year or more dip 2 percent in the November-December period, the jeweler announced late last week....