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Archive for September 17th, 2008

By Michael M. Shapiro

The private fundraising effort to pay for a $30 million shortfall in the financing of a $102 million stadium expansion for Rutgers University has been a debacle.  Less than $2 million has been raised since the governor and state Sen. Raymond Lesniak (D-Union) announced the initiative nearly a year ago.  Gov. Corzine, who is leading the effort, has donated $1 million, the vast majority of the funds obtained to date.  Meanwhile, even the strongest supporters of the idea, like Sen. Lesniak, now say that the drive will result in far less than $30 million and more like $10 million, leaving a gaping $20 million shortfall in funding.  Interest-bearing short-term commercial loans are currently subsidizing the stadium expansion, creating further indebtedness.

Currently, the Rutgers Board of Governors is discussing how to make up the shortfall but the ideas on the table, including raising ticket prices, hiking tuition, and taking stadium revenues from other athletic programs, will likely not cover the shortfall and worse, will cripple the Rutgers athletic program and the university itself since fans are already balking at the increase in ticket prices this year and students are disturbed about the steep tuition hike last year. 

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by Diane Norek Harrison

SOUTH AMBOY—Here is another “cleaning out my folders” column from my own research: The Long Ferry at the foot of High Street in Perth Amboy that went from South Amboy to Perth Amboy started in 1684. The South Amboy ferry was put out of business by bridges.

In 1832, John Stevens built the first railroad in New Jersey running between Camden and South Amboy. A ferry carried travelers from South Amboy to Perth Amboy where they had dinner before proceeding to New York or returned to Philadelphia.

In 1925, The South Amboy Trust Company had D.W. Reed as its president and H.G. Hoffman as its treasurer. In 1942, South Amboy had a Camera Club.

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Online editions: Week of Sept. 18, 2008

This week’s CMD Media newspapers are available online in PDF format.

Print versions can be purchased at select newspaper stands, convenience stores, supermarkets and delis in Clark, Elizabeth, Linden, Rahway and South Amboy.

To subscribe, call 732-574-1200, or print out and mail in a subscription form.

CMD Media has a very limited number of back issues available for $5 a copy.
For information, email cmdmedia1@gmail.com

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President George W. Bush

President George W. Bush

STATE—President George W. Bush plans attend a Colts Neck fundraiser on Monday Sept 22 for Republican Congressional candidates, state Sen. Leonard Lance (R-Hunterdon) and Medford Mayor Chris Myers.

The visit has given Democrats a chance to again link their rivals to Bush’s disastrous record of the last eight years: Hurricane Katrina and cronyism embodied by FEMA director Michael Brown; 30,000 American troops dead, maimed or mentally scarred; the president’s aircraft carrier landing and ‘Mission Accomplished’ declaration while Iraq remained unstable; torture at secret prisons, Guantanamo and the Abu-Garib scandal; along with tax giveaways for Big Oil companies and wealthy people who do not work.

In the 7th Congressional District, a hot race is brewing between Lance and Assemblywoman Linda Stender, the Democrat who was closely defeated by incumbent GOP Rep. Mike Ferguson two years ago.

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