Category Archives: Economy

By LINDA G. RASTELLI When you’re redoing a downtown, as rookie Fair Haven Mayor Mike Halfacre is discovering, you can’t please everyone. Exhibit A: the borough’s streetscape plan, which calls for the sidewalks from Memorial Park to Oak Place to...

New Jersey Treasurer Bradley Abelow is scheduled to lead a forum at Red Bank Borough Hall Wednesday night in which he'll discuss the impact of the proposed $33.3 billion state budget for fiscal '08 on municipalities. In announcing the event...

Both the Asbury Park Press and the Record of Hackensack have interviews today with Ara Hovnanian, scion and CEO of Hovnanian Enterprises, the Fortune 500 homebuilder headquartered in Red Bank. On the table in each is the state of the...

Red Bank-based K. Hovnanian Homes has pulled the plug on a controversial plan to build up to 4,500 homes in Ocean County's Berkeley Township after an adverse court ruling. "We are not going to pursue this," company spokesman Douglas Fenichel...

Virginia S. 'Ginny' Bauer, New Jersey's Secretary of Commerce and the widow of a man killed in the Sept. 11, 2001 attacks on the World Trade Center, is Gov. Jon Corzine's choice to fill a seat on the board of...

It's turning into a break-out-the-Champagne kind of week for downtown Red Bank. First came news last week that Tiffany & Co plans to open one of its high-end emporiums on Broad Street. Now there's a poll released Monday by Monmouth...

Gov. Jon Corzine is scheduled to appear at the Lincroft campus of Brookdale Community College tomorrow morning to "outline his vision" for the redevelopment of Fort Monmouth and to answer questions from the public, the Asbury Park Press reports today....

Contract cancellations like crazy in a particular Florida market are dragging down earnings at Hovnanian Enterprises, officials of the Red Bank-based homebuilding company say. The builder said it expects to take a $90 million hit from writing down the value...

Unelected Red Bankers aren't the only ones reeling over the reassessment letters that landed in their mailboxes in recent days. Mayor Pasquale Menna said he's peeved that the letters went out without his approval, and were written, he said, in...

The meter is still spinning out of control on winter heating bills, and now comes news from the state Board of Public Utilities that electricity users will get slammed with a 14.2-percent price increase in June, the Asbury Park Press...

Red Bank property owners: it's reassessment time. So prepare to find in your mail an innocuous looking white envelope from a company called Realty Appraisal Co. And brace yourselves. We here at redbankgreen got ours just minutes ago, showing a...

Having "hit kind of a wall" in 2006, Red Bank-based Hovnanian Enterprises is being cautious about 2007, a company executive says in an interview in today's Star-Ledger. J. Larry Sorsby, HOV's chief financial officer, tells the Ledger's Judy DeHaven that...

VINCENT J. FAIELLA RED BANK SURPLUS 16 WALLACE STREET I've been here four months. We were in Brooklyn for 79 years — Reliable Naval Tailoring Co. I'm third-generation. I've been living in Little Silver for 15 years. I was born...

Hovnanian Enterprises, the publicly-traded homebuilder that last year moved its corporate headquarters to the heart of Red Bank from Middletown, is scaling back its ambitions in the borough, according to a published report. GlobeSt.com, a real estate industry publication, says...

A gateway property on Red Bank's West Side, the administration headquarters of the Community YMCA on Drs. James Parker Boulevard, has been sold, redbankgreen has learned. The buyer, PS5 LLC, paid $1.3 million for the longtime public school building, according...

Sunday's Star-Ledger has a terrific profile of Fair Haven's Bob Lucky, head of the Fort Monmouth re-use panel and an engineer whose seminal work led to the creation of the Internet. The article, by Wayne Wolley, begins: Bob Lucky earned...

Remember that attempt to flip a house on Madison Avenue we told you about in June? Well, the house remains unsold 18 months after an investor bought it, at the top of the market, for $475,000 $450,000. Sara Swanson, the...

With a couple of critical days left in the holiday shopping season, it would appear that the consensus among downtown merchants is that this year's cash-register activity, while not booming, is at acceptable levels. redbankgreen hit the pavement late Wednesday...

Red Bank-based Hovnanian Enterprises was blindsided by the swift drop in values on its inventoried land, the company acknowledged yesterday in reporting a $115 million fourth-quarter loss. "We did not anticipate the suddenness or magnitude of the fall in pricing...

Ten questions for John and Rachel Decker, owners of Graman's Vacuum & Appliance Parts Co. on Monmouth Street, at the corner of West Street. They live in Tinton Falls. How long have you owned this business, and who had it...