Money News for New Jersey Sat, 20 Sep 2014 19:59:20 +0000 Joomla! 1.5 - Open Source Content Management en-gb Getting Ripped Off by Coin Exchange Machines? diegnan_opt_copyBY COLLEEN ROACHE

TRENTON – Legislation Assembly Consumer Affairs Committee Vice-Chair Patrick J. Diegnan Jr. sponsored to require coin redemption machines to disclose fees received panel approval yesterday.

The bill (A-1462) would prohibit operators of machines that sort and count a consumer’s coins and provide cash in exchange from charging a fee for the service unless a notice advertising the fee is prominently posted on the machine. The legislation also would require a notice to be posted if coins cannot be refunded once deposited.

Economy Fri, 19 Sep 2014 16:33:40 +0000
N.J. Senator Turner: 'Stop Handouts to Wealthy Corporations That Avoid Tax Obligations' turner_optBY RICHARD McGRATH

TRENTON — Senator Shirley Turner (D-Mercer, Hunterdon) has introduced a package of bills to prevent taxpayer funds from being used to subsidize companies that engage in corporate inversions, a tax-avoidance scheme where American businesses merge with foreign companies and shift their income overseas to avoid paying U.S. corporate tax rates. Senator Turner’s legislation would disqualify these businesses from receiving state subsidies and bar New Jersey’s pension fund from investing in them.

“The increasing trend of corporate inversions is not just a Washington problem; it’s a New Jersey problem, too,” said Senator Turner. “When multi-billion dollar corporations shift their income abroad to reduce their U.S. corporate tax rate, the state can no longer tax those corporate profits. Every other taxpayer must then pay more to make up for the lost revenue in order to maintain government services. It's no wonder the state can't meet its financial obligations. In New Jersey, we are exacerbating the problem by giving taxpayer-funded handouts to support these corporate tax dodgers. We should not reward corporations that have renounced their U.S. citizenship to avoid paying their fair share of taxes. It's unpatriotic.”

Economy Wed, 17 Sep 2014 06:13:49 +0000
Powerball Winning Numbers for Saturday, September 20, 2014 Worth $196 Million powerballticket_optBY BOB HOLT

Another day, another Powerball drawing going by without a jackpot winner.

The last time Powerball reached its current level was on June 11, when a player from Tennessee won a $259,800,000 jackpot.

The eleventh consecutive drawing without a top prize winner means the Powerball top prize is continuing to shoot skyward. According to the game’s website, the annuity jackpot for the next Powerball drawing on Saturday, September 20 now checks in at an estimated $196 million. The lump sum payout will now be $116.9 million. The winning Powerball numbers for Wednesday September 17 were 18, 25, 36, 48, and 50. The Powerball was 27.

We’re seeing more second tier winners as the jackpot continues to climb. According to USA Mega, 6 tickets matched the first 5 numbers without getting the Powerball to win $1 million. The tickets were purchased in Arizona, California, Florida, Georgia, Kentucky, and Missouri.

Economy Fri, 19 Sep 2014 16:09:29 +0000
Powerball Numbers For Wed., Sept. 17, 2014 Worth $171M powerball110311_optBY BOB HOLT

The Powerball jackpot remained without a winner on Saturday night, so that top prize is continuing to head upward.

Nobody won Powerball’s top prize for the tenth consecutive time on September 13, and one more rollover could send the total above $200 million.

The Powerball Lottery website says the estimated annuity jackpot for the game’s next drawing on Wednesday, September 17 is now $171 million. The cash option sum has moved all the way to $102 million.

Powerball’s winning numbers for the drawing of Saturday, September 13 were 1, 6, 16, 37, and 53, and the Powerball was 27. USA Mega reported that one ticket from California won around $1 million for having the first five numbers without matching the Powerball.

Lottery Post reports that lottery prizes in California are awarded on a pari-mutuel basis. The amounts given out are based on the amount of ticket sales, and the number of winners at each prize level.

Economy Tue, 16 Sep 2014 15:33:20 +0000
Cryan Highlights Tuition Freeze Bill as Cornerstone of Higher Ed Reform Package TUITION_opt-2BY JENNIFER SCIORTINO

TRENTON – Assemblyman Joseph Cryan is looking forward to seeing the cornerstone of a 20-bill higher education reform package come before the Assembly Higher Education Committee on Thursday, a measure that would guarantee every new Jersey public college student a nine-semester tuition freeze.

Cryan and Higher Education Committee Chair Celeste Riley unveiled the bill package in March to help address many of the critical factors standing in the way of whether a student successfully completes college and in the most cost-effective manner possible. Among the major areas addressed by the bills are: college readiness, completion rates, cost, data collection, accountability, and pathways to success.

Economy Wed, 17 Sep 2014 06:03:26 +0000
Gaming, Gambling and Engagement: Where Is It All Going? FAVORITO_opt_copy_copy_copy_copy_copy_copy_copy_copy_copy_copy_copy_copy_copyBY JOE FAVORITO

This past Sunday, three of the most read stories in the New York Times involved the growing and ever-changing world of gaming and gambling. From competitive, professional e-gaming to lotteries now being devised to teach people about healthy savings to the continued troubles two of the biggest online games companies, Rovio and Zynga, are having, it is becoming more and more apparent that the digital and mobile gaming world is becoming more relevant, more fluid and in many ways more treacherous than ever before as brands and investors look to throw money good and bad into the space to see how to engage not just millennials, but a growing consumer base that wants to be more connected in the digital world than ever before.

Economy Sat, 06 Sep 2014 03:13:45 +0000
Powerball Winning Numbers for Wed., Sept. 10 Worth $127 Million powerball110311_optBY BOB HOLT

No one hit the Powerball jackpot on Saturday, so that $110 million annuity prize is on the rise again.

Eight consecutive Powerball drawings have now gone by since the last jackpot winner came on August 9.

The Powerball Lottery website reports that the annuity jackpot for the next drawing on Wednesday, September 10 will now be an estimated $127 million. The cash option payout will move to a nice healthy $77.3 million.

Winning Powerball numbers for Saturday, September 6 were 9, 29, 31, 43, and 50. The Powerball number was 18. Only one ticket from Oklahoma got the first five numbers correct without matching the Powerball to win $1 million in second prize money, according to USA Mega.

The New Jersey Lottery website reported that one ticket matched four of the first five numbers plus the Powerball to win $10,000. The ticket was from Mercer County, and it was bought at Larry’s Wine & Spirits in Lawrenceville.

Economy Wed, 10 Sep 2014 16:43:39 +0000
Powerball Winning Numbers for Sat., Sept. 13 Worth $149 Million powerball110311_optBY BOB HOLT

Saturday’s multi-state Powerball jackpot is now all the way up to $149 million.

Powerball’s ninth consecutive drawing without a top prize winner brings that jackpot to its highest level in over three months.

According to the game’s website, the winning Powerball numbers for Wednesday September 10 were 2, 14, 39, 40, and 43, and the Powerball was 13. After no one hit the jackpot for the ninth consecutive time, the annuity grand prize has risen to an estimated $149 million, with the lump sum payout sitting at $90.7 million.

The big money is getting closer to New Jersey. USA Mega reports that tickets from New York and Louisiana matched the first five numbers without having the Powerball to win $1 million.

And the New Jersey Lottery website reported that another New Jersey ticket won $10,000 in the September 10 drawing. That ticket was purchased at a Shop Rite in West Deptford of Gloucester County. Also, a ticket from Burlington County won $257,976 in the Jersey Cash 5 drawing of September 11.

Economy Fri, 12 Sep 2014 17:21:28 +0000
Carriage Taxes Were Just the Beginning carriages82714_optBY KYLE HUTCHISON

On August 27, 1799, the Sentinel of Freedom contained an article about the enacting of the carriage tax passed by Congress in 1794.

The Centinel of Freedom was a weekly newspaper published in Newark, New Jersey from 1796-1823.

Most people of the 18th century traveled by foot. If you had some money you could afford to travel by horse or by some small boats, but the most luxurious way to travel at the time was by a four-wheeled horse carriage.

On June 6, 1794, Congress passed a tax on carriage-owners: “tax on carriages for the conveyance of persons, kept for the use of the owner.”

The tax took 5 years to be in forced due to some backlash from citizens against the tax. This backlash leads to a famous court case known as Hylton Vs. United States.

Hylton argued that the tax went against Article 1, Clause 9 that required all direct taxes to be apportioned among the states. The Justices ruled that it was an indirect tax rather than a direct tax.

Economy Wed, 27 Aug 2014 02:00:53 +0000
5 Reasons You Can Lose Job Over Bible Study bible9614_optBY BOB HOLT

Selling cars is a difficult business these days, and auto dealerships don’t exactly have the best reputations.

In New Jersey, at least one used car dealership is trying to indoctrinate its employees in the word of the Bible.

The former manager of a CarSense in Mount Holly doesn’t like it. The Raw Story reports that Joseph Haughey is suing the dealership after company president Eugene Niconovich wanted him to become more “outwardly religious.” According to the complaint, at one Bible study meeting, CarSense owner Francis McGowan, told Haughey he “could not wait for that glorious day” when he died, because it would enable him to “spend eternity in heaven with Jesus.”

Haughey had no response to that, and wasn’t interested in attending prayer meetings. His lawsuit also alleges racial discrimination. In the complaint, according to, Haughey said the company told him to fire black employees or keep them from interacting with customers.

Economy Sat, 06 Sep 2014 14:17:18 +0000