In the months leading up to Monday’s night’s Iowa caucuses, Gov. Chris Christie had not polled particularly well in the evangelical Christian-heavy state.But Christie’s performance Monday fell short of even the most modest expectations as he garnered just roughly 1.8 percent of the statewide vote, good for 10th place overall.
U.S. Sen. Ted Cruz (R-Texas) won the contest, finishing with over 27 percent of the vote. Businessman Donald Trump placed second with 24 percent and U.S. Sen. Marco Rubio (R-Fla.) was not far behind in third place with 23 percent.
Christie finished only ahead of former U.S. Sen. Rick Santorum (R-Pa), winner of the 2012 Iowa caucuses, and former Virginia Gov. Jim Gilmore, a virtual unknown candidate in the current election cycle.
In a Monday morning appearance on ABC’s “Good Morning America,” Christie said that early polling had indicated to him that while he would not emerge victorious in the Hawkeye State, he would “outperform” and at least place ahead of the other current and former governors in the race.
“Fact is, what I’ve wanted all along is to come out of Iowa as the number one governor,” Christie told GMA. “Polls show that I will be the number one governor.”
But aside from Gilmore, Christie failed to finish ahead of any other governor.
Former Arkansas Gov. Mike Huckabee, who like Christie, also managed to claim just 1.8 percent support, announced the suspension of his campaign shortly after the results trickled in.
But Christie remains focused on New Hampshire, where his campaign has largely focused its efforts over the last several months.
A recent CNN/WMUR poll in the state has Christie in range for fifth place there with 8 percent support. Trump leads that poll with roughly 30 percent support.
New Hampshire will hold its primary on Feb. 9.
Tag: South Jersey
NJBIZ stories taking place in and involving South Jersey businesses, companies and business news.
N.Y.N.J. region’s flight schedule was most heavily affected by winter storm, study finds
The winter storm that snowed in the region in late January proved extremely disruptive for area airports, according to the Global Gateway Alliance.The advocacy group’s analysis of flights affected by weather during the weekend of Friday, Jan. 22, to Sunday, Jan. 24, found that the New York region was the most heavily affected in terms of the sheer number of flight disruptions.
There were 5,889 flights disrupted at the New York-area airports over those three days, counting canceled and delayed flights.
John F. Kennedy International led the way, with 2,140 flights disrupted; Newark Liberty International saw 1,997 flights disrupted; LaGuardia saw 1,714 disruptions; and Westchester County had 38 flights either canceled or delayed.
The Alliance said the flight disruptions represented approximately 61 percent of scheduled flights during the weekend.
“The Port Authority and the airlines took the necessary measures to keep passengers safe in the midst of the city’s second-largest snowfall,” Joe Sitt, chairman of the alliance, said in a prepared statement. “But we have to remain focused on modernizing our airports, so we finally have both the 21st century air traffic technology needed to recover faster from these weather events and the amenities that passengers look for during hours- or days-long waits.”
Washington, D.C., which was also battered by Winter Storm Jonas, was second in flights disrupted, with 3,744 delays or cancelations at its three major airports. However, that represented approximately 64 percent of flights at the three airports, slightly higher than the New York-area total.
Among other areas in the Northeast affected by the storm, Philadelphia ranked seventh nationwide, with 1,453 flight disruptions, and Boston ranked 10th, with 957 disruptions.
The region continued to struggle as it dug out from Jonas’ snow, the alliance added.
Newark Liberty International saw an additional 1,918 flight disruptions in the four days following the storm: Monday, Jan. 25, through Thursday, Jan. 28. That led all individual airports, the alliance said.
LaGuardia ranked third over the same time period, with 1,273 disruptions, while JFK ranked sixth, with 930.
N.J.-based tissue supplier relocates to Burlington
WCRE announced that it has exclusively represented Trebor Inc. in relocating its 16,000-square-foot southern New Jersey-based manufacturing/warehouse facility to The Haines Center in Burlington.Trebor Inc. is a company that supplies tissue products worldwide.
The new facility is a 126,484-square-foot multitenant building located at 500 Richards Run. It is owned and managed by Whitesell Construction Company.
Lee Fein, senior vice president of WCRE, represented the tenant in this transaction.
Financial terms of the deal were not disclosed.
NJBIZ names Best 50 Women in Business 2016
Once again, NJBIZ is proud to honor New Jersey’s most dynamic women in business with its Best 50 Women in Business awards. The Class of 2016 includes bankers, doctors, entrepreneurs and everyone in between.What they all have in common, however, is that they are leaders in the business community, influential in their companies and industries, and shaping New Jersey’s economic future.
In addition to this year’s Best 50 Women, NJBIZ will be naming the winner of a special Lifetime Achievement Award at the ceremony.
This year’s event will be held at The Palace at Somerset Park, 333 Davidson Ave., Somerset.
For more information, or to register, click here.
To view the 2016 list of the Best 50 Women in Business, listed alphabetically, click the links below.
The Best 50 Women in Business: A-I
The Best 50 Women in Business: J-Z
Speak Easy Tiered plans just starting to be studied
SpeakEasy is a running feature in NJBIZ in which we recap presentations given by key business leaders around the state at one of New Jersey’s many conferences and events.
Kate Ho, an economics professor at Columbia University, has been watching the impact of tiered networks as well as their growing popularity around the country.
At a recent event in Princeton held by the New Jersey Health Care Quality Institute, Ho discussed “what economists are trying to do to understand effects of tiered networks” by looking at data reports in the last few years.
“Tiered networks have gained popularity nationally as a method to control cost,” Ho said, adding that, as a result, data has only just started rolling in and economists have been able to begin analyzing it.
Most of the known data has come in from Massachusetts, specifically looking at what the state’s employee benefits plan and Blue Cross Blue Shield have done.
BCBS in Massachusetts first implemented a three-tiered network plan in 2007.
In 2012, the Massachusetts Group Insurance Commission included new incentives for a limited network plan, which included a three-month holiday premium.
How individuals weighed the benefits proved interesting, she said.
“Consumer behavior is very sensitive to financial incentives. This premium holiday caused 10 percent of employees to switch plans,” Ho said. “The healthiest people, not surprisingly, were the most likely to switch.
“In addition, they found that the enrollees that could switch without changing their insurance carrier or their primary care physician were 60 percent more likely to switch than anybody else.”
Switching meant spending 36 percent less than the old plan for a marginal group of people.
While the quantity of care received reduced, the quality of care did not, Ho said.
“Not surprisingly, patients did travel further to get to a hospital than they had before,” she said.
When the hospitals were re-tiered periodically, based on cost and quality, it affected consumer choice for use of the hospitals, Ho said, citing a study.
During the study period of 2009 to 2012, 44 percent of hospitals changed tiers, and when an insurer dropped one of the most popular hospitals from an Affordable Care Act plan on the exchange, 40 percent of patients switched away from using that hospital.
Others, she said, simply switched away from the plan altogether.
“That raises questions about access,” Ho said.
Should the government subsidize bigger, more expensive hospitals in order to ensure access for enrollees?
Or should the insurer just wait and see if those who switched away eventually return?
More questions remain as data continues to roll in from tiered plans popping up around the nation.
One of those questions is: What will happen to hospitals in non-preferred plans, and those which on lower tiers?
“The tradeoff between ensuring access and controlling costs will be interesting to see,” she said.
E-mail to: [email protected]
A Taste of Success Campbell’s move to bring in top chefs from around the world is producing better-tasting products and an increase in profits
New Jersey residents would have gladly accepted a hot bowl of chicken noodle soup last week after shoveling out from Winter Storm Jonas.
But had it been Campbell’s, you might’ve ended up with Homestyle Mexican-Style Chicken Tortilla Soup instead. And thankful for it.
Tom Griffiths — a certified master chef and global vice president of Campbell Soup Co.’s Culinary and Baking Institute in Camden — has been shaking up the 147-year-old company’s portfolio with new flavors and internationally inspired meals since he was hired in 2010.
As authentic as ever, one thing is clear: The predictable Campbell products of our childhoods are exactly that — in the past.
“About six years ago, Campbell leadership decided its chefs were not being leveraged as much as they could be,” Griffiths said. “I was hired to create that culinary voice.”
Today, Griffiths and his team at the institute are one of Campbell’s strongest competitive advantages and a big part of the $8 billion in annual sales the global food company generates.
“We really have an interest in making the food more delicious,” Griffiths said.
Not to mention, keeping the company current with today’s business models.
So far, he has been helping the company do just that.
Top 10 food themes
Campbell Soup Co.’s third annual Culinary TrendScape lists the top 10 influential food themes for 2016:
- Cooking with fire: Wood-fired grilling — even for cocktails and desserts.
- Authentic Thai: This influenced Campbell Soup Co.’s Wicked Thai Style Chicken with Rice and Vegetables Soup
- French Revival: A new wave of French comfort food at bistros and cafes
- Inspired ice cream: Bold, new flavors such as chorizo-caramel, hibiscus-beet and black pepper-butter pecan
- Traditional fats: Cooking with fat, from pork fat to avocado to nuts and seeds of all varieties
- Asian noodle soups: Such as Vietnamese pho
- Haute dogs: Such as Vietnamese bahn mi flavored links, mac-n-cheese garnishes and croissant buns
- Veg 2.0: An expanded veggie revolution and a greater vested interest in vegetarian and vegan recipes; influenced V8’s Veggie Blends beverages and Bolthouse Farms’ 1915 cold-pressed organic juices
- Caramel: From coffees to cocktails; influenced Pepperidge Farm’s Salted Caramel Chocolate Milano Cookies.
- Simple and real: Wholesome food options; fewer and simpler ingredients; transparent food companies. “I think that is something we always did and continue to do, but, maybe we didn’t have poblanos on the menu, or fire-roasted tomatoes — things that our chefs and I would love to feel we were a part of bringing to people and educating them about,” Campbell Chef Tom Griffiths said.
Griffiths was hired in February 2010, nearly 10 months after Campbell Soup hit a low stock price of $24.87, which is equivalent to $20.22 when dividends are factored in.
Since Griffiths’ hiring, Campbell’s stock has essentially more than doubled, to more than $55 on Jan. 26.
To be clear, it has been a team effort in the kitchen.
After previously serving as the associate dean of advanced global cuisines at the renowned Culinary Institute of America, Griffiths now manages 10 chefs and about 40 “culinologists” — those with both culinary and food science degrees — in Camden; seven chefs at Pepperidge Farm’s headquarters in Connecticut; two chefs in California, one at Bolthouse Farms and the other at Plum Organics; one chef at Garden Fresh Gourmet in Michigan; three chefs in Australia, who cook for Australia, Indonesia and Malaysia; and one chef and culinologist in Toronto.
“We have one of the most highly credentialed culinary and research and development teams in North America,” Griffiths said.
Their job is to not only increase Campbell’s culinary portfolio, but also to expand the company’s presence worldwide.
“(For example), we might hire an expert on paella to come in and teach us about the gastronomy of Spain and send a chef to Washington, D.C., or even Barcelona to study and learn that paella can sometimes include rabbit or snails, has a certain kind of rice or that authentic paella is cooked on an open fire over pine cones and lemon trees — all in the name of coming up with an authentic paella recipe,” Griffiths said.
That recipe is then tested in different markets, with scientists and chefs, before Griffith’s team heads to the grocery store with consumers in mind.
“We’ll purchase every paella we can in order to build a gold standard for consumers based upon our authentic paella recipe — which, perhaps does or does not include rabbit or escargot,” Griffiths said.
Looking forward
At this time last year, Campbell Soup Co. in Camden was undergoing a hefty reorganization:
Rather than continue to be organized by geographies or brand groups, the businesses would be managed within three divisions structured by product categories: Americas Simple Meals and Beverages (Campbell Soup Co., Plum Organics); Global Biscuits and Snacks (Pepperidge Farm, Arnott’s and Kelsen businesses); and Packaged Fresh (Bolthouse Farms).
CEO Denise Morrison had hoped the reorganization would help the company focus on sustainable growth and expansion into new categories, segments, channels and geographies.
“Our industry faces global economic realities with a shrinking American middle class and a growing one in developing markets; major demographic changes, including continued growth of millennial and Hispanic cohorts in the U.S. and a redefinition of the American family; profound changes in consumer preferences for food with increased focus on health and well-being, fresh and organic; and the game-changing impact of digital technologies,” Morrison said in the 2015 annual report. “Traditional food companies have felt the impact for several years. In calendar 2014, on the heels of many of these changes, the industry’s average net sales growth rate slowed to only 1 (to) 2 percent. In response, companies have initiated a series of strategic actions, from spinoffs and consolidation to acquisitions and aggressive cost-cutting.”
It’s why the company’s purpose — “Real food that matters for life’s moments” — has, according to Morrison, spurred “the single most important cultural change in her time” at Campbell.
“Today, everyone at Campbell is thinking, talking and acting differently about our food — from how it is grown and the ingredients we select to how we prepare our foods and the type of acquisitions we pursue,” she said.
As part of the institute’s Culinary Trends Monitoring Program — which tracks emerging culinary trends and leverages them as inspiration for new Campbell products — Griffith’s team members attend immersion tours and conferences and work in restaurants to network with highly influential chefs.
Their research has not only helped Campbell introduce bold, new flavors, but has also helped educate others as an expert leader in the industry.
“Our chefs will go and meet with other chefs and their leadership teams to present our Culinary TrendScape,” Griffiths said. “It is a viable asset for them.”
The third annual Culinary TrendScape — a report tracking the Top 10 influential food themes for 2016 — has indeed influenced several of Campbell Soup Co.’s newer products.
“We’ve been studying Thai food for three or four years, so this year, we have an authentic Thai Curry Chicken skillet sauce,” Griffiths said.
“We may not always come out with a product immediately, but we are always learning so that we can be proactive about it.”
For example, Griffiths views Latin-inspired food and regional Mexican cuisine as being highly influential on Campbell products in the near future.
“I recently sent several chefs down to Mexico to spend five days learning authentic ways to make moles and salsas,” he said.
It sounds costly — and, Griffiths admits, it is. But while it may initially cost more to use higher-level ingredients in Campbell recipes, Griffith and his team work hard to find ways to make it affordable for the company and its consumers.
“If we are studying French revival, for example, I wouldn’t want a chef to say, ‘Why bother making lobster bisque? Lobsters are expensive.’ That defeats the purpose of our strategy — to educate and inspire,” Griffiths said. “Whatever we do, we need to start at the beginning in order to achieve an authentic gold standard. It may be an inexpensive bean soup or it may be seafood bisque, but, regardless, we’re still going to discover that authentic recipe and create its gold standard. Then, it will evolve over time to be more affordable and delicious.”
Griffiths — one of only 67 master chefs in the world to be certified by the American Culinary Federation — would stake his reputation on his work at Campbell.
“I could inspire and mentor maybe 1,000 students in a year, but I now have the opportunity to literally feed the world delicious food,” he said. “That is a legacy.”
E-mail to: [email protected]
On Twitter: @megfry3
(Editor’s note: After this report was published, representatives of Campbell Soup Co. stated that the company’s stock price has risen over time due to a variety of factors, including but not limited to the addition of master chef Tom Griffiths.)
New leadership, new menu, new success Steck helping Saladworks emerge from bankruptcy with new identity, image
Saladworks — the nation’s largest fresh-to-order salad franchise — opened its first store in 1986 in Cherry Hill.
Last February, the company filed for bankruptcy.
That didn’t keep Paul Steck, CEO and president, from believing in the brand.
“How can we undo the damage done during (the last) two years of chaos?” he said, after taking over as CEO last June.
The answer?
Better leadership; updated research; and, most importantly, a new menu.
###
The 30-year-old company, which has about 100 franchise locations, certainly needed a better track.
“The prior owners had had a falling out,” Steck said. “They couldn’t even agree on what day of the week it was.”
After two years of lawsuits and depositions, the company filed in February of last year for Chapter 11 bankruptcy in order to end longstanding disputes between the company’s founder, John Scardapone, and Saladworks’ major investor, Commerce Bank founder Vernon W. Hill.
“The purpose of the bankruptcy was not traditional — it was to force the sale of the company upon the previous owners,” Steck said. “We were in and out of bankruptcy in less than four months.”
Centre Lane Partners, a New York-based private equity firm, purchased Saladworks for $17 million as the company successfully worked to pay off nearly $2 million in debt.
That’s when the real work began.
###
“We knew that the menu was old and tired,” Steck said. “It wasn’t responsive to the demands of the marketplace.”
In order to meet changing customer tastes and drive-up sales, Steck created a research and development task force last year consisting of seven franchisees and corporate team members.
“We were definitely behind the curve in doing that,” he said.
Additionally, to ensure the revamp was executed correctly, Steck hired a market research company to travel to 40 Saladworks locations and interview almost 900 customers about what they wanted to see on the menu.
“Younger generations in particular were looking for more unique ingredients, as they have different taste profiles than others are used to,” he said.
But Steck didn’t rush to make immediate menu changes across the board.
“We collected the market research data and shared it with at least 20 percent of our franchisees,” Steck said. “We wanted both customer and franchisee feedback — from dedicated and passionate individuals who own these restaurants with their own money at risk. Providing input and guidance for them just made a lot of sense.”
Where’d ya go?
Though Saladworks was founded in Cherry Hill, the company has since relocated to the Philadelphia area.
“There are the obvious tax implications, with New Jersey having some of the highest taxes in the country,” CEO and President Paul Steck said. “But there are also franchise laws in place in New Jersey that are not typical around the country.”
For example, Steck said, if a franchisee violates an agreement in New Jersey, the business is automatically provided 60 days to correct infractions before a franchisor can terminate its rights.
“Which means the franchisee can violate the agreement for 59 and a half days before addressing the problem,” Steck said. “If a change can be made overnight — especially if it is a health and safety violation — let’s fix that right now.”
###
One of the biggest collective concerns was how Saladworks could remain competitive in a market when everywhere from gas stations to fast food establishments were now selling salads.
“We can’t compete with the Wendy’s and the WaWas of the world, so we have to offer elevated products that are intriguing to people,” Steck said.
“Kale was what you used to decorate salad bars with 20 years ago. Now, people are demanding it in their salads. And just six years ago, no one had even heard of quinoa, let alone be able to spell it — now, it’s on every menu you look at.”
Including Saladworks’. The brand’s new menu — which launched in January — includes a new Thai chicken salad, Mediterranean salad and farmhouse salad; seven new toppings, from roasted Brussels sprouts and butternut squash to goat cheese and grapes; five new sandwiches; and a new apple cider vinaigrette dressing.
“We have a very loyal fan base and a large number of customers who visit our stores three to four times a week,” Steck said. “Our product lends itself to that. There is so much more choice with 64 ingredients and 14 different types of dressing.”
Good thing, then, that the average salad with dressing is only 430 calories.
And that’s not the only way Saladworks is striving to become the healthiest fast-casual option for consumers.
“Our industry is abuzz about the concept of farm-to-table, but in reality, you can only get a Jersey tomato two months out of the year at most,” Steck said. “So we have to come up with other ways to source products.
“For us, it’s more about where the food came from, how it was cared for, who grew it and how it was transported. We are always looking for vendors that could help us with all natural and organic products, as well as hydroponic lettuce — we’d love to be able to grow lettuce closer to home here.”
###
Even though home is really its headquarters in Conshohocken, Pennsylvania, Saladworks has more units in the state of New Jersey — 31, to be exact — than any other state.
“What I want to do is expand the brand from its position of strength and move outward,” Steck said. “Certainly, New Jersey is the epicenter of Saladworks.”
But there are still plenty of towns where Steck would like to build the brand’s new, more space- and cost-efficient and sustainable store designs, such as Freehold, Brick and Jackson.
“We should be in those towns,” Steck said. “Cape May is also thriving in the offseason, as is Ocean City — why aren’t we there?
“Let’s focus on New Jersey, where the brand resonates well and we have a ton of loyal customers. Let’s finish what we started here.”
###
Saladworks is well on its way to continued success.
Today, Saladworks has 101 franchise locations in 14 states and three countries, totaling $80 million in revenue for 2015. That number is up 8 percent from 2014.
And Saladworks plans to open 11 new locations this year — four of which will be in New Jersey.
“I’m most proud of the results to date and look forward to improved results in the years to come,” Steck said.
E-mail to: [email protected]
On Twitter: @megfry3
Behind the numbers How N.J.’s middle-market firms stack up nationally
According to the latest data from American Express and Dun & Bradstreet, 533 of New Jersey’s 4,842 middle-market firms have been in business for less than 10 years.At 11 percent, that puts New Jersey right at the top of the national bell curve.
“New Jersey is pretty close to the national average on the age spectrum of middle-market firms,” said Julie Weeks, research adviser for American Express.
New Jersey also hovers right around the national average of middle-market firms over 50 years old, with 31 percent compared with the national 30 percent.
“What it says, in general, is that it takes a while to get to the middle market, so the changes you see at that level of business accomplishment don’t happen fast,” she said. “Most firms that have reached that level of $10 million or more in revenue have been around for a while.”
The data also shows that younger middle-market firms are more likely to be in the service sector in comparison with older companies, which are more likely in manufacturing or wholesale trade.
“Those businesses, which didn’t used to scale to that level, now have a lot more scalability,” she said. “Having a diversified climate, in terms of the types of industry sectors, is a good thing.
“That’s the major message: that the industry mix is changing.”
Sitar Realty brokers numerous sales, leases
Iselin-based Sitar Realty Company announced a series of transactions it brokered recently.The commercial real estate firm said in news releases Thursday that it has handled a number of sales, including:
- A 60-unit apartment complex, 200 McKinley Court, Princeton; from M&G McKinley Investments LLC to Princeton McKinley LLC; Giorgio Vasilis, Joseph Allegro, Doug Sitar and William Sitar Jr. were the salesmen involved;
- Three office condos, Pondview Corporate Park, Freehold; from Center State Professional Park LLC to Jemmes Real Estate LLC and Collette Real Estate LLC; Allegro and Gregg Nowell were the salesmen involved;
- Two office condos, 800 The Plaza, Sea Girt; from Marmon Realty to WPNSK Property LLC; Thomas Monte and Helena Loelius were the salespeople involved;
- A 5,500-square-foot industrial building, 1818 E. Elizabeth Ave., Linden; from RTM Realty to M. Lazurus; Brian Murphy was the salesman involved;
- A 4,000-square-foot retail building, 3201 State Route 35, Hazlet; from 35 Hazlet LLC to Gold Group LLC; Vasilis was the salesman involved;
- A 2,200-square-foot retail building, 760 U.S. Route 1 North, Edison; from Edison AMQSR Inc. to an undisclosed buyer for a Roy Rogers; Robert Giordano was the salesman involved.
In addition, Sitar said it handled a series of lease transactions, including:
- A 104,005-square-foot industrial space, 699 Kapkowski Road, Elizabeth; from North Industrial Center LLC to CMC Food Inc.; William Sitar Jr. and John Cranley were the salesmen involved;
- A 20,000-square-foot office space, 225 Willowbrook Road, Freehold; from Cusa Realty LLC to CentraState Medical;
- A 13,952-square-foot office space and a 1,488-square-foot office space, 242 Old New Brunswick Road, Piscataway; from 242 Walton Partners LLC to State Farm Insurance and Mpower Logic Inc., respectively; Robert Bogash and Doug Sitar were the salesmen involved;
- Three industrial spaces of 8,000 square feet, 2,500 square feet and 2,500 square feet, 1717 Route 34, Wall; from Wall Herald Corporation to Dreamworks Muscle Cars, Affordable Models LLC and Northeast Home Elevation, respectively; Robert JanTausch and Doug Sitar were the salesmen involved;
- A 4,505-square-foot retail space and a 2,965-square-foot retail space, 1901 Route 35, Wall; from 1901 Route 35 Wall LLC to Leslie’s Poolmart Inc. and Joe’s Restaurant & Pizzeria, respectively; Vasilis, JanTausch and Doug Sitar were the salesmen involved;
- A 5,870-square-foot office space, 1340 Campus Parkway, Wall; from Monmouth Atlantic Realty Associates LLC to NRG Home Solar; Ron Schrader Jr. was the salesman involved;
- A 2,550-square-foot retail space and a 1,850-square-foot retail space, 3305-3327 Sunset Ave., Ocean; from Schelane Sunset LLC to American General Contractors Inc. and Luigi’s Pizza, respectively; Allacen Jennings was the saleswoman involved;
- A 3,750-square-foot retail space, 335 Route 9, Manalapan; from SG Group to Royal Montessori; Allegro and Doug Sitar were the salesmen involved;
- A 3,500-square-foot industrial space, 10 Phyllis St., Hazlet; from Harry & Jane Fischel Foundation to de Groot Industries; Jennings was the saleswoman involved;
- A 3,379-square-foot retail space, The Shoppes at Brick, 101 Prosper Way, Brick; from Nobility Crest at Brick III LLC to Coastal Fitness Inc.; Loelius and Trista Ricciardelli were the saleswomen involved;
- A 3,063-square-foot office space, 802 W. Park Ave., Little Silver; from Little Silver Investors to Dr. Brian Bannister; Nowell and Murphy were the salesmen involved;
- A 2,911-square-foot retail space, 25 Highway 35, Eatontown; from ARC Cafeusa001 to Popeyes; Allegro, Doug Sitar and Loelius were the salespeople involved;
- A 2,399-square-foot office space, 1300 State Highway 35, Ocean; from Danabry LLC to Inner Dynamics Physical Therapy LLC; Vasilis and Brian Schrader were the salesmen involved;
- A 2,342-square-foot retail space, 920-950 Hamilton St., Franklin Township; from Franklin Court Management LLC to Dunkin’ Donuts; Bogash and Doug Sitar were the salesmen involved;
- A 2,033-square-foot office space, 45 Eisenhower Drive, Paramus; from 45 Eisenhower Venture LLC to Adecco USA; Giordano was the salesman involved;
- A 2,000-square-foot retail space, 15 Broad St., Red Bank; from APRAD I LLC to B. Oliver Design; Loelius was the saleswoman involved;
- A 1,950-square-foot industrial space, Monmouth Business Center, Belmar; from 5005 Belmar Blvd LLC to Robert I. Fritz & Son Sales; JanTausch was the salesman involved.
Borgata, Tropicana announce major Atlantic City renovation plans
The Borgata and Tropicana casinos have each announced plans to make major investments in the renovation of their Atlantic City properties.On Wednesday, Borgata unveiled its plan to invest over $50 million into a new outdoor pool, nightclub, fine dining restaurant and roughly 25,000 square feet of convention space. The property also will look to transform its food court into a new “casual dining eatery.”
The planned 3,200-square-foot outdoor pool will feature more than 400 lounges, daybeds and cabanas and will be centered on a number of entertainment options.
Construction on the various projects will take place throughout the year.
“Borgata’s continued reinvestment in our property and its commitment to Atlantic City is categorically unmatched in the region,” said Tom Ballance, Borgata CEO and president. “The constant reinvention of our business has been a core principle since entering the market in 2003, and we are pleased to continue developing the type of engaging product that our customers have come to anticipate and expect.”
On Thursday, Tropicana announced its intentions of investing some $25 million into the renovation of 500 hotel rooms, casino floor areas and property entrances.
The hotel rooms slated for renovation, situated in the property’s Havana Tower, will feature larger bathrooms and showers, new carpeting, updated artwork and textured wall coverings.
The renovations, which are expected to be completed by May, come roughly a year after Tropicana moved ahead with a larger, propertywide $50 million update.
“We are committed to delivering on our promise to offer more to our guests and more to the City of Atlantic City,” Tropicana CEO and President Tony Rodio said. “Tropicana recognizes the importance of continuing to invest in both our gaming and nongaming amenities. These renovations are not only attractive upgrades for Tropicana’s guests, they are creating new employment opportunities at a crucial time in Atlantic City.”
Atlantic City emergency manager takes job at consulting firm
Kevin Lavin, the former corporate finance attorney appointed last year by Gov. Chris Christie to lead Atlantic City’s emergency management team, has left his post to become the co-president of the Texas-based Ankura Consulting Group.“I am delighted that Kevin is joining Ankura as a key member of our management team,” said Ankura CEO Roger Carlile. “His leadership skills in building and leading advisory businesses and his extensive experience assisting underperforming companies and their stakeholders will be invaluable to Ankura and its clients. His most recent role as the emergency manager of Atlantic City, New Jersey, demonstrates the broad range of his strategic, operational and restructuring capabilities.”
Lavin, who earlier this month issued his final report indicating that Atlantic City was set to run out of money by April, was appointed by Christie in January 2015 to serve as the city’s emergency manager alongside Kevyn Orr, the former emergency manager for the city of Detroit, who acted in an advisory role.
Orr left Atlantic City in April to rejoin the law firm of Jones Day in Washington, D.C.
Lavin will also serve on Ankura’s board of directors.
“After considering the possible opportunities for me, I concluded that Ankura’s collaborative culture, core values and spirit of entrepreneurialism offered me the best platform for serving clients as well as attracting and developing world-class professionals and leaders,” Lavin said.
How-to guide An industry expert’s take on executive coaching
Strategist, psychologist, confidant, corporate spy? The definition of an executive coach can be elusive. So, NJBIZ reached out to Bob Polster of the Bernardsville-based executive coaching firm Morris and Polster to find out why executives hire coaches.