NEWARK – Joined by over 25 representatives from across New Jersey in the business, academic, labor and financial world, Gov. Jon. S. Corzine on Monday, Sept. 22 conducted an economic roundtable at the New Jersey Institute of Technology to discuss the challenges facing the U.S. economy and their impact on New Jersey.

“Our nation faces its worst financial crisis since the Great Depression,” said Corzine in a release. “I appreciate the depth and the overwhelming concern people showed at the meeting. This was a productive and substantive first discussion and I hope to continue them as we move forward.”

The governor announced that he will begin work immediately to identify ways to help citizens battling home heating costs, move forward to address the New Jersey housing mortgage crisis and find ways to help State residents that can’t feed themselves or their families.

“While the federal government continues to bail out Wall Street, it is my responsibility to protect the people on Main Street,” said Corzine. “It is imperative that we find state, federal and any other funding available to provide the people hardest hit by the recession with the means to keep their homes, afford gas for their cars and heat their houses. I have asked Commissioner Goldman to meet with bankers on the credit crunch and we will be meeting with mortgage bankers to figure out how to free up credit locally for homeowners after the Federal government’s $700 billion debt bail out. I will also be directing my Cabinet to look for a way to help people to be able to afford astronomical home-heating costs with the winter months ahead.”

Corzine’s budget this year allocated more than half of its $32.9 billion total to property tax relief. The budget also contained a $2.9 billion reduction in spending; reduced the size of government by 3,000 workers through early retirement and attrition; cut the operating budgets of every state department by an average of five percent and eliminated altogether the Department of Personnel and the Commerce Commission. The budget also dedicates $650 million toward debt reduction – a measure that will save New Jersey taxpayers an estimated $135 million a year for the next five years.

“We need to keep moving forward with the fiscal discipline we have put in place and we will begin to see the long-term benefits of living within our means,” said Corzine. “We have also begun to work on economic stimulus packages beyond direct property tax relief in the form of job creation. We have started school construction projects and the state is down the path to identifying the funding necessary to begin construction on the Turnpike Widening, the Garden State Parkway Widening, critical bridge repairs and the Mass Transit Tunnel. These are all projects that will put New Jersey’s citizens back to work and serve to provide an infusion into our State’s economy.”

Corzine was joined today by Kate Adams, Vice President and CEO of Honeywell; Barbara Armand, President and CEO of Armand Corporation; Mike Walsh, Regional Vice President of Development for Harrah’s Casino; Chris Daggett, principal of JM Sorge, Inc.; Caren Franzini, Chief Executive Officer of the New Jersey Economic Development Authority; Ralph Izzo, Chairman and Chief Executive Office of PSE&G; Orin Kramer, Chairman of the New Jersey State Investment Council; Gualberto “Gil” Medina Executive Managing Director of Cushman & Wakefield; Bob Altenkirch, President of the New Jersey Institute of Technology; Tom Bracken, President of New Jersey Operations for Tri-State Capital Bank; Tony Coscia, Chairman of the Board of Commissioners for the Port Authority of New York and New Jersey; Bob Franks, President of the Healthcare Institute of New Jersey; Joe Riggs, President of K. Hovnanian Homes; Josh Jablons, Executive Vice President of Metal Cutting Corporation; Paul Krugman, Professor at the Woodrow Wilson School of Princeton University; Jon Shure, President of New Jersey Policy Perspective; Carl Van Horn, Director of the Heldrech Center of Rutgers University; Bill McDonald, Chief Executive Officer of Saint Joseph’s Regional Medical Center in Paterson; Bill Mullen, President of the New Jersey Building Trades; Pam Miller, Vice President of Medco; Carl Goldberg, principal of Roseland Property; Constantino “Gus” T. Milano, Executive Vice President of Finance and Leasing for Hartz Mountain Industries, Inc.; Charles Wowkanech, President of the NJ CFL-AIO; Hank Henderson, President and CEO of Thoreb North America, LLC; Cliff Lindholm, President of the Falstrom Company; James H. Simmons, Partner and Managing Director of the Apollo Domestic Emerging Markets Fund for the Apollo Real Estate Advisors.

Biographies of each are below:

Barbara Armand

Barbara Armand is President, CEO and founder of Armand Corporation, an engineering, construction management and technology firm. The company has been in business since 1991and has received several awards and recognition of its success from the United States Small Business Administration and the Department of Commerce. Armand Corporation's Technology Division provides the professional services and solutions that enable government and industry to realize the benefits of the rapid developments in information systems and communications technology.
Constantino T. Milano
Constantino “Gus” T. Milano is Executive Vice President of Finance and Leasing for Hartz Mountain Industries, Inc., one of the largest private owners of commercial real estate in the United States. Mr. Milano is responsible for the finance and leasing departments of the company's commercial real estate portfolio consisting primarily of office parks, industrial property, shopping centers and hotels. Mr. Milano is a licensed New Jersey Mortgage Banker and a licensed New Jersey Real Estate Salesman.

Ralph Izzo

Ralph Izzo is Chairman and Chief Executive Officer of the Public Service Enterprise Group Incorporated (PSEG). Mr. Izzo’s public policy experience includes service as an American Physical Society Congressional Science Fellow, in the office of U.S. Senator Bill Bradley. He also served as a senior policy advisor for Governor Thomas H. Kean, specializing in energy, science and technology.

Joseph F. Riggs

Joe Riggs is group President of K. Hovnanian Homes, a nationally recognized homebuilder that has been committed to excellence since 1959. Mr. Riggs is responsible for the company’s homebuilding operations in Illinois, Minnesota, Ohio, New Jersey, New York, and Pennsylvania. Mr. Riggs serves as a Policy Advisory Board member for the Harvard Joint Center for Housing Studies and is an active member and a past President of the New Jersey Builders Association. Mr. Riggs also serves on the steering committee of Homes for New Jersey, a coalition of more than 200 organizations promoting policies that will improve housing affordability in New Jersey.

Jon Shure

Jon Shure is President of New Jersey Policy Perspective, a nonprofit, nonpartisan organization that he founded in 1997 to conduct research on state policy issues. Jon Shure has been involved in New Jersey public affairs since joining the reporting staff of The Record newspaper. Mr. Shure joined the staff of the U.S. House of Representatives Subcommittee on Commerce, Competitiveness and Consumer Protection under Congressman Jim Florio and served as Communications Director for Governor Florio. Mr. Shure is a Visiting Associate at the Eagleton Institute of Politics at Rutgers University.

Michael J. Walsh

Michael J. Walsh is Regional Vice President of Development for Harrah’s Atlantic City. Mr. Walsh is responsible for operations related to the strategic growth of Harrah’s Atlantic City, Caesar’s Atlantic City, Bally’s Atlantic City and Showboat Atlantic City. Mr. Walsh has held various senior level executive positions, ranging from CFO to Property General Manager, throughout his 28 year casino career. Mr. Walsh chairs the AtlantiCare Health Services Board of Directors. He serves on the Board of Trustees for the Welfare and Pension Funds for UNITE HERE International Union, a position he has held since 1996.

Orin Kramer

Orin Kramer is Chairman of the New Jersey State Investment Council, the oversight board for the state’s $80 billion public pension system. Mr. Kramer has also managed Boston Provident Partners, a financial services hedge fund, since 1992. Mr. Kramer has served as a director of three financial firms: Ariel (current), Tempest Re, and Golden State Bancorp. He has served as executive director of three state commissions involving financial industry issues (New York, California); was associate director of the White House Domestic Policy Staff for financial industry issues; and co-chaired President Clinton’s financial services transition team.

Bob Franks

Bob Franks is President of the HealthCare Institute of New Jersey. Mr. Franks is responsible for fostering greater understanding of the pharmaceutical and medical technology industry and for advancing the Institute’s objectives with New Jersey's elected and appointed officials, media, citizens and opinion leaders. Mr. Franks served four consecutive terms as Congressman for New Jersey’s 7th Congressional District. During his tenure in Congress, Mr. Franks served on the Budget Committee, as well as the Transportation & Infrastructure Committees. Before serving in Congress, Mr. Franks was a member of the New Jersey General Assembly for 13 years, representing the 22nd legislative district.

Gualberto Medina

Gualberto “Gil” Medina is Executive Managing Director for Cushman & Wakefield. Mr. Medina is responsible for managing the company’s New Jersey operations consisting of three offices in Western, Central and Northern New Jersey, formulating and implementing strategic initiatives for the company throughout New Jersey and securing major accounts. Mr. Medina served as the Secretary of Commerce for the State of New Jersey under Governor Christine Todd Whitman, where he was responsible for planning and implementing business climate and organizational reforms.

Robert A. Altenkirch, Ph.D.

Robert A. Altenkirch, Ph.D., is President of the New Jersey Institute of Technology (NJIT). Previously, Mr. Altenkirch was vice president for research at Mississippi State University. In addition to the research program, his responsibilities encompassed congressional relations, intellectual property management and economic development. Mr. Altenkirch also served as professor and chair of mechanical engineering at the University of Kentucky. He is the author of over 50 publications and nearly 100 presentations in combustion and heat transfer and served as principal investigator for ten Space Shuttle experiments investigating the spread of fire in reduced gravity.

Anthony R. Coscia

Anthony R. Coscia is Chairman of the Board of Commissioners of the Port Authority of New York and New Jersey. As Chairman, Mr. Coscia has broad oversight responsibility in connection with the agency’s various transportation businesses and $5.9 billion annual capital and operating budget. Mr. Coscia spearheaded the agency's adoption of a $29.5 billion ten year capital plan, which provides for substantial expansion of the region's transportation facilities, including development of a new trans-Hudson rail tunnel, expanded aviation facilities and rebuilding of the World Trade Center Site. Mr. Coscia is a Partner of Windels Marx Lane & Mittendorf, LLP, and served as Chair of the New Jersey Economic Development Authority.

Caren S. Franzini

Ms. Franzini is Chief Executive Officer of the New Jersey Economic Development Authority (EDA). The EDA is an independent, self-sustaining state financing and development agency that works to promote economic growth, job creation and the revitalization of New Jersey’s communities. Under Ms. Franzini’s direction, the EDA’s cumulative financing assistance totals to more than $19 billion since it was established in 1974, supporting the creation of about 288,000 new jobs and total investment of $40 billion.

Thomas A. Bracken

Thomas A. Bracken is President of TriState Capital’s New Jersey operation. TriState Capital Bank is dedicated to providing customized banking solutions for businesses, professionals and high net worth individuals through a relationship-oriented approach. Mr. Bracken previously served as President and Chief Executive Officer of a large New Jersey regional bank where he helped bring the decision making authority and the full resources of a multi-billion dollar bank directly to customers. With over 39 years banking experience, Mr. Bracken has also served as Executive Vice President for one of the nation’s top 5 financial holding companies and as New Jersey Market President for a Fortune 15 bank.

Paul R. Krugman

Paul R. Krugman is a professor of Economics and International Affairs at the Woodrow Wilson School of Public and International Affairs in Princeton University. Mr. Krugman has authored and edited dozens of books and several hundred articles, primarily about international trade and international finance. Mr. Krugman is also nationally known for his twice-weekly columns in The New York Times and his monthly columns in Fortune Magazine and Slate. He was the Ford International Professor of International Economics at the Massachusetts Institute of Technology and has served on the U.S. Council of Economic Advisers. Mr. Krugman was the recipient of the 1991 John Bates Clark Medal, an award given every two years by the American Economic Association to an economist under 40.

Joshua Jablons

Joshua Jablons, Ph.D, is the Executive Vice President of Metal Cutting Corp., a specialty metal fabrication company in Cedar Grove, New Jersey. Mr. Jablons has worked in the metals business since 1987. During his career in the industry, he has specialized in three areas: the manufacture and metrology of tight tolerance parts, burr-free production techniques, and refractory metals.

Christopher J. Daggett

Christopher J. Daggett is a Principal with JM Sorge, Inc., a New Jersey environmental consulting and management firm. Mr. Daggett also manages his own brownfields development company. Mr. Daggett is a former Managing Director of William E. Simon & Sons, a New Jersey investment firm and a former Commissioner of the New Jersey Department of Environmental Protection. Mr. Daggett served as Regional Administrator of Region II of the U.S. Environmental Protection Agency, and Deputy Chief of Staff to Governor Thomas H. Kean.

Katherine L. Adams

Katherine L. Adams is Vice President and General Counsel for Honeywell Specialty Materials, a strategic business group of Honeywell International. Prior to joining Specialty Materials leadership team, Ms. Adams served as vice president and deputy general counsel - litigation for Honeywell. Before joining Honeywell, Ms. Adams was a partner at Sidley Austin Brown & Wood LLP in New York City. Earlier in her career, Adams served in roles as law clerk for Justice Sandra Day O'Connor, Supreme Court of the United States.
Carl Van Horn

Carl Van Horn is the founding Director of the Heldrich Center for Workforce Development, one of the nation’s leading academic centers on workforce policy and practice. Mr. Van Horn is a widely recognized expert on workforce, human resources, and employment policy issues with extensive experience in public and private sector policymaking. Mr. Van Horn was appointed by President Bill Clinton to a Presidential Emergency Board to mediate a new contract between labor and management in the railroad industry. He has advised and consulted with numerous public and private organizations on human resource, training, education, and management issues.

Charles Wowkanech

Charles Wowkanech is President of the New Jersey State AFL-CIO, the state’s largest labor organization. Mr. Wowkanech’s continued commitment to diversity and opportunity for all has led to a record number of women and minorities recruited into non-traditional careers through the Construction Trades Training Program. Mr. Wowkanech served as a member and Chairman of the New Jersey Individual Health Coverage Program Board of Directors which was established by law in 1993 to implement the state’s aggressive health insurance reforms and to regulate the individual health insurance market.

William T. Mullen

William T. Mullen is President of New Jersey State Building & Construction Trades Council. Mr. Mullen is also a member of the Essex County Workforce Investment Board, a member of the Brownfield Redevelopment Task Force and a Trustee at Montclair State University. Mr. Mullen served in the United States Army in 1967 and 1968, stationed in Korea.
Hank F. Henderson, Jr.

Hank Henderson is Managing Director of Thoreb North America, LLC and was founder, President and C.E.O. of Henderson Industries. Henderson Industries was one of the top minority-owned companies in the United States that designed and manufactured control systems and electronic parts to automate industrial plants or for various high tech systems for the military for such endeavors as missile control testing or air craft use. Mr. Henderson served on the board of New Jersey State Employment and Training Commission and previously served as a commissioner on board of The Port Authority of NY & NJ.

Pamela T. Miller

Pamela T. Miller, Esq. is Vice President of Market Strategy and Development at Medco where she leads the development of new market strategies. Prior to working at Medco, Pamela served as Vice President of Enterprise Planning and Quality at Horizon Blue Cross Blue Shield of New Jersey, was Deputy Commissioner in the New York City Department of Health, Director of the Hudson County Department of Environmental and Public Health, and National Director for Minority Initiatives for the American Lung Association.

Clifford F. Lindholm III

Clifford F. Lindholm III is CEO of Falstrom Co., a company that makes precision steel parts and fittings for the defense and aerospace industries. Mr Lindholm is also Chair of New Jersey Business and Industry Association Manufacturing Council. Mr. Lindholm served on the Advisory Council to the Business Department of Felician College and was chair of the Montclair Environment Advisory Committee. He is also a member of the Passaic Enterprise Zone Development Corporation, having served on the board since 1994.

William A. McDonald

William A. “Bill” McDonald is Chief Executive Officer of St. Joseph's Healthcare System. Mr. McDonald has more than 20 years of expertise in executive level healthcare management. Mr. McDonald’s background includes hospital and network administration, management and administration, physician recruitment and retention, development of physician/hospital organizations, third party payer contract development and negotiations as well as program, services, facility development and management consulting. Mr. McDonald is the former president and CEO of Miami Children's Hospital in Florida. In addition, he has served as chief executive officer of the University of Texas Southwestern Medical Center and other hospital and healthcare systems in Illinois, Oklahoma, Arkansas and California.

Carl J. Goldberg

Carl J. Goldberg is co-founder of Roseland Property Company and is Chairman of the New Jersey Sports and Exposition Authority. During his tenure at Roseland, Mr. Goldberg has been responsible for overseeing their redevelopment efforts in some of New Jersey’s most important urban locations, including Port Imperial, their flagship endeavors along the Hudson River Waterfront. Mr. Goldberg has been an active member of the National Association of Homebuilders, is past president of the Community Builders’ Association, and currently serves on the Board of Deborah Hospital.

Kenneth J. Parker

Kenneth J. Parker is President of the Atlantic City Electric Region, a regulated utility serving more than 540,000 customers in Southern New Jersey. Mr. Parker’s primary responsibilities include developing and maintaining key customer, community and governmental relationships throughout the utility’s service territory. Mr. Parker is the First Vice Chairman of the New Jersey Utilities Association, a member of the State of New Jersey Board of Education, the Board of Trustees of Leadership New Jersey and a member of Governor Jon Corzine’s New Jersey Economic Growth Council. He serves on the Board of Directors for the New Jersey State Chamber of Commerce.

James H. Simmons III

James H. Simmons III is a partner at Apollo Real Estate Advisors and is Managing Director of the $480 million Apollo Domestic Emerging Markets Fund. Mr. Simmons was a member of the Emerging Markets Debt and Derivatives trading desk at Salomon Smith Barney, where he specialized in structuring Latin American, Eastern European and Asian sovereign and corporate debt. Mr. Simmons also has served as the C.I.O. and then as the interim C.E.O. of the Upper Manhattan Empowerment Zone Development Corporation.