Gary Schaer

*** MEDIA ADVISORY ***

ASSEMBLY PANEL TO HOLD HEARING ON ECONOMIC CRISIS AND THE CONDITION OF FINANCIAL INSTITUTIONS

(TRENTON) – The Assembly Financial Institutions and Insurance Committee plans a Monday hearing on the ongoing global economic crisis and the condition of New Jersey’s financial institutions.

SCHAER, DeANGELO TO ASK AG TO DETERMINE WHETHER
JILTED SPRINGSTEEN FANS HAVE ALLY IN STATE LAW
Lawmakers to Ask Whether State's Consumer Fraud Act Applies

(TRENTON) - Assemblymen Gary Schaer and Wayne DeAngelo today said they will ask the state Attorney General to determine whether New Jersey consumers blocked from purchasing tickets for this spring's Bruce Springsteen concerts at the Meadowlands can seek refunds under the state's Consumer Fraud Act.

U.S. Rep. Bill Pascrell (D-Paterson) made it to the front page of the Star-Ledger and The Record today by asking the Federal Trade Commission to investigate allegations that Ticketmaster blocked consumers from purchasing tickets to a Bruce Springsteen concert so they could re-sell them at a higher price on an aftermarket website they own.  Now two Democratic Assemblymen are trying to replicate Pascrell's media hit with their own copycat local version. Gary Schaer (D-Passaic) and Wayne DeAngelo (D-Hamilton) are asking the state Attorney General to launch its own investigation.  Could the Star-Ledger bite again?

Gov. Jon Corzine on today's Chamber of Commerce trip.

NORTHEAST CORRIDOR – The Chamber of Commerce “Walk to Washington” train lurches out of the station and it isn’t even past Newark before some of the old-timers are predicting – with a degree of sadness - that no one’s going to get thrown off the train.

There’s a sense among the Democrats that if they let it all hang out with booze and bad behavior in an economic downturn and gubernatorial election year, they will appear crass and out-of-touch.

The establishment Republicans who are here probably have in their minds a preposition-ending statement issued yesterday by the gubernatorial campaign of Republican frontrunner Chris Christie: "Former U.S. Attorney Chris Christie wants to bring real change to Trenton and that comes with ending politics as usual, which this trip has become a symbol of," said spokesman Bill Stepien.

So they too are restrained as the 14-car train clears the South Ward and this rolling world of business and politics collides in happy but measured ceremony with the gubernatorial election and the economy hovering at the edges of every close-quarters conversation as the train heads for Washington, D.C.

Regardless of the outcome of the game of political musical chairs in the 28th legislative district, where two incumbents and a former Assemblyman are posturing for two spots on the Democratic line, look for the mostly white, blue collar towns of Belleville and Bloomfield to be split away from Newark and Irvington when a new map is drawn after next year's census.

The 28th was supposed to be one of the voting rights districts that protected minority representation in the Legislature when it was drawn in 2001.  The incumbents at the time were three African Americans: State Sen. Ronald Rice (D-Newark) and Assemblymen Donald Tucker (D-Newark) and Craig Stanley (D-Irvington). 

If Caputo holds his seat this year, it makes a defense of the current district under the Voting Rights Act more difficult.

Belleville, which was in the old 36th district, and Bloomfield, part of the old 34th district, were mostly represented by Republican legislators before the towns were moved in to the new 28th.  Rice beat GOP Assemblywoman Marion Crecco (R-Bloomfield) by a 69%-30% margin in 2001.

But Belleville and Bloomfield, which was estimated to have a combined population of 79,816 last year, have proven to be a greater force in Essex County politics than the redistricting commission imagined.  In 2007, Essex Democrats backed Ralph Caputo, a white Freeholder who served as a Republican Assemblyman from 1968 to 1972, to run for the Assembly.  Caputo and Cleopatra Tucker, whose late husband held the seat until his death in 2005, unseated two incumbents, Stanley and Oadline Truitt (D-Newark). 

State Sen. Kevin O'Toole (R-Cedar Grove)

Insiders lay out several battlefields this year, and Republican or Democrat, it’s not two or three gulps of beer into a conversation before they spill the strategic terrain of the coming legislative contests.

The Democrats will put money into 1 to defend their incumbents there, and they will try to take down the Republican incumbents in 2. They’ll play in 8 again largely as a diversionary tactic, defend in 14 and – and this is big - heavily fortify 36, where the GOP last time came within 2,400 votes of stripping the Dems of a seat.

Representatives in both parties usually mention the last of these prospective showdowns as the most meaningful, a potential north Jersey version of the 12th District Karcher-Beck war in 2007, where both parties will likely lay down their heaviest barrage.

For the moment, Democrats feel they have some GOP civil war drama on their side, and are gleefully inclined to let the Republican body count mount at this fractious tri-county, multi-ego crossroads of Passaic, Bergen and Essex, before they get in and scrap in earnest to protect Assemblyman Fred Scalera (D-Nutley) and Assemblyman Gary Schaer (D-Passaic).

Better to let the other side give itself a good going over before taking casualties. That’s the attitude.

SCHAER CALLS FOR FEDERAL RULES PREVENTING
BOND FIRMS FROM DUAL ROLE
Will Engage Governor and Federal Regulators to Prevent Firms
From Acting in Dual Capacity As Investment Banker and Investment Advisor

(PASSAIC) - Assembly Financial Institutions and Insurance Committee Chairman Gary S. Schaer today called for new federal regulations to prohibit firms which engage in investment banking in the public sector from acting as an aftermarket investment advisor to other customers for the same or similar securities.

ASSEMBLY DEMOCRATIC COMMENTARY ON MEASURE PROMOTING NJ-BASED 'GREEN' MANUFACTURING

(TRENTON) - Assembly members Pamela R. Lampitt, Wayne P. DeAngelo, Gary S. Schaer and Jack Conners today issued a multimedia package on legislation, released from the Assembly State Government Committee, that would promote home-grown, in-state solar and wind energy manufacturing.

The bill (A-3616), sponsored by Lampitt (D-Camden) and DeAngelo (D-Mercer), would grant a preference to New Jersey businesses that produce alternative energy hardware when awarding state contracts involving solar and wind energy projects, further supporting New Jersey "green" businesses and jobs.  The measure also would support projects that aim to use a majority of parts manufactured or produced in the state in the assembly of a final project.

Nutley businessman Carmen Pio Costa today officially entered the race for a seat in the 36th legislative District, as he submitted a letter of intent asking for the support of the  three party chairmen of those counties with towns in the district: Kevin O’Toole, chairman of Essex; Scott Rumana of Passaic, and Bob Yudin of Bergen.

This is a second go for Pio Costa.  

In 2007, the Republican lost to Assemblyman Gary Schaer (D-Passaic) and Assemblyman Fred Scalera (D-Nutley), but came close enough – in his words – to take another crack at the Democrats in this cycle. 

“In spite being outspent 5-to-1 in 2007, I made substantial gains and came within 2,500 votes of victory,” Pio Costa wrote. “In light of this monumental accomplishment I am poised to cross the finish line and bring this district Republican representation.  The experiences of my campaign in 2007 have left me with the knowledge, understanding, and determination necessary to achieve victory in 2009."

SENATE PANEL CLEARS SCHAER/LAMPITT/COUTINHO BILL TO TEACH KIDS FINANCIAL RESPONSIBILITY

Legislation Would Create Pilot Program To Educate High Schoolers On Sound Financial Practices

(TRENTON) – Legislation Assembly members Gary S. Schaer, Pamela R. Lampitt, and Albert Coutinho sponsored to initiate a pilot program to educate high school students on personal finance management so they can avoid irresponsible spending habits that lead to excessive personal debt and bankruptcy was released today by the Senate Education Committee.

“Too many young people have taken an ‘out of sight, out of mind’ attitude to their personal finances, setting themselves up for financial hardship before they even get their college degree,” said Schaer (D-Passaic/Bergen/Essex), a professional financial advisor. “We must do a better job of preparing students to be financially responsible adults.”