If Gov. Jon S. Corzine signs the law, New Jersey will be the fourth state to restrict such purchases to once a month.

“Providing criminals and gang leaders one-stop shopping to outfit themselves with weapons is the obvious implication of bulk handgun purchasing,” said Assemblywoman Joan M. Quigley (D-Jersey City), a sponsor of the bill.

However, shop owners say the current permitting requirements already deter criminals, while lengthy permitting approvals had led purchasers to buy multiple guns at one time.

“It’s going to do nothing to prevent or solve or do anything with crime,” said Bob Viden, owner of Bob’s Little Sports Shop, in Glassboro.

He said the law will restrict some purchasers to much fewer than one gun per month, because it can take up to six months to receive a permit.

Ron Granito, owner of Bergen Sporting Goods, in Ridgefield, said the law and other state regulations would lead to lower sales.

“This state just makes it tougher and tougher” to purchase firearms, said Granito, who described the state as “a disgrace.”

The bill was approved by the Assembly in June 2008, and passed by the Senate on June 26 by a 21-15 vote.

State Sen. Sandra B. Cunningham (D-Jersey City) said she was concerned about limiting purchases by residents buying for those who aren’t legally allowed to, known as “straw purchasing.”

“Though we have gun laws on the books, more must be done to prevent straw purchases,” she said, adding that she hopes other states follow New Jersey’s lead.

On the same day the Senate passed the bill, Gov. Jon S. Corzine signed an executive order that establishes a task force to recommend changes to state firearms laws and regulations, including those that cover permits and criminal penalties for illegal gun transfers.

E-mail to Andrew Kitchenman at akitchenman@njbiz.com.

As it heads into bankruptcy, GM is shedding some of its longtime assets. Corporate officials are planning for the creation of a new corporation, without many of GM’s current contracts and liabilities.

“The sale will be managed as part of the wind down of the old GM,” said Tom Wilkinson, GM news relations manager.

Wilson said the sale would occur once the court approves GM’s plan to sell assets.

Wilkinson said he couldn’t provide the price GM is seeking for the complex, but said corporate officials are passing along information from potential buyers to the GM’s real estate team.

After the former GM Hyatt-Clark roller bearing plant was closed in the 1980s, the site was capped and — in 2000 — the golf course was built, according to Clark Mayor Sal Bonaccorso.

Bonaccorso said he didn’t have any information on the sale. He said the cost of cleaning up the contamination under the course has been estimated at $200 million.

The 89-acre site also includes a heated driving range, miniature golf course and pro shop.

GM leases the course to Hyatt Hills Golf Commission, a nonprofit whose board includes Bonaccorso and six others. Two-thirds of the site is in Clark, while one-third is in Cranford.

During a Cranford municipal meeting last year, township officials said revenue from the course has been lower than expected, and that the course’s debt payments were substantial, according to the township Web site. Course officials couldn’t be reached immediately for comment today.

E-mail Andrew Kitchenman at akitchenman@njbiz.com.

Power-generation company NRG has resisted Exelon’s overtures since the fall, even as Exelon has campaigned for shareholders to change the makeup of NRG’s board of directors at an upcoming annual meeting.

A tale of two letters

NRG’s board of directors previously rejected Exelon’s bid to acquire the company, calling the offer too low and raising questions about Exelon’s ability to secure financing for such a deal. NRG’s board asked its shareholders to take no action pending a review of today’s increased offer.

During a morning conference call, John W. Rowe, Exelon chief executive, said the company plans to sell additional assets and to issue equity to reduce the debt of the combined company.

“The Exelon offer will create at least $2 billion — and more likely, on the order of $3 billion — of additional value for the NRG shareholders,” he said. “This is all about the long-term value that can be created by consolidation.”

In a research report issued today, analysts from Jefferies & Co. Inc. were not impressed by the latest offer from Exelon.

“We do not believe this is a fair offer to NRG shareholders, since our open EBITDA analysis values NRG at $30 per share,” the report stated. Analysts from Jefferies also said Exelon’s new offer represented a 7 percent premium for NRG shareholders based on the July 1 closing price of $26.05 per share; EBITDA stands for earnings before interest, income taxes, depreciation and amortization.

Meanwhile, shares of Exelon were down $1.77, to $49.79, and NRG shares fell $1.23, to $24.82, in afternoon trading.

Email to jpruth@njbiz.com

The solar panels mounted on the roof of Quick Chek’s offices are expected to generate more than 20 percent of its energy needs. Some 627 solar modules were installed on the rooftop.

“The engineering and permitting took about a month. Installation began in April,” said Tom Buono, vice president of operations with Vanguard, which designs and installs solar panel systems. He declined to disclose the cost of the project. Buono said Vanguard continues to work with Quick Chek on developing potential plans for rolling out solar arrays to the retail chain.

“We are going to provide them with a feasibility study to determine if solar is possible for retail stores,” he said. Some of the stores are on company-owned property, while others are leased, which may preclude solar installations, he said.

M1 Abrams tanks, Bradley fighting vehicles and Humvees will be outfitted with the sighting systems and components from defense technology contractor DRS. Production on the orders will be performed at facilities in Florida by DRS Reconnaissance, Surveillance & Target Acquisition division. The order is expected to be fulfilled by January 2011.

To read the full story, click here.

U.S.: DEA joins Michael Jackson death probe

To read the full story, click here.

WORLD: US Marines launch major offensive in Afghanistan

To read the full story, click here.

THE LIGHTER SIDE: Mont. Judge rules on case — 24 years later

To read the full story, click here.