August 18, 2008 - 4:26pm
News
Governor says he didn't know about Rose stake in Xanadu
By Max Pizarro, PolitickerNJ.com Reporter
Gov. Jon Corzine: Politicker file photoNEWARK - Hit with reporters’ questions here today about the business connections of his former chief of economic development, Gov. Jon Corzine said he did not know when he selected him that Gary D. Rose had a financial stake in the Xanadu Meadowlands project.
Corzine himself had close ties to a private firm behind the large-scale East Rutherford development - envisioned as a $2 billion pleasure dome of shops and entertainment hot-spots and slated to open next year.
In his capacity as economic chief, Rose helped facilitate a privately funded bailout of the once-floundering project, even as he owned stock in a company that stood to lose over a billion dollars, according to The Record reporters Jeff Pilletts and John Reitmeyer.
Rose left the Corzine administration in June.
For his part, " I liquidated my stake," said Corzine, who reminded reporters that an ethics advisory panel cleared him to sign a bill last Thursday, which could help Dune CEO Daniel Neidich, a good friend and former business partner of Corzine’s, bring the nation’s second-largest aquarium to Xanadu.
"We wouldn’t have signed the bill (for the aquarium) without the ethics panel," said the governor. "All we want to see is a successful economic project."
The 4.5 million-square foot Xanadu site is on state-owned property within the Meadowlands Sports Complex, and the New Jersey Sports & Exposition Authority operates the complex.
"The Xanadu story is not helpful," said Senate President Richard Codey (D-Essex).
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Quote of the Day
November 18, 2008
"A new level of attention was brought to the scourge of political corruption in this state and we are proud of the results." -- U.S. Attorney Christopher J. Christie, announcing his resignation.
-Philadelphia Inquirer, 11/18/08
Recent Press Releases
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In the News
Read the expanded Wake Up Call, our summary of today’s news media coverage.
Today’s Must Reads:
Corzine for Treasury? Don't Bet on It.― WASHINGTON POST
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SILENT ON CHARGE; LIPSKI TELLS OF ALCOHOL BATTLE― STEVEN LIPSKI
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Shulman campaign receives boost ― 5TH DISTRICT
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Wow!
What a surprise - another Dem with a conflict of interest, profiting off a public contract. ::yawn::
Where is the water coming from?
Apparently, our financial wizard relies on the ethics panel to advise him on the economic issues: "We wouldn’t have signed the bill (for the aquarium) without the ethics panel," said the governor. Apparently, the environmental issues are of no concern for our financial wizard (also a friend of the environment). I have a simple question, where the water is coming from for the aquarium? Let's do one more: who pays the bill? Should we ask our other environmentalists: Frank "the forgetful", Bob "no drilling here", etc?
Losing It?
Is Corzine even focused on New Jersey? It seems that everytime he is asked a question he acts confused.
Physically he is here but his mind is in Washington.
Maybe it will be best for all if he moves on with Obama.
This is a difficult State to govern and it is a State that takes all your focus. He seems to have lost the focus.
Democratic Primary Battle for Governor.
If Corzine decides to move on in about 100 days that will create a vacuum that has not been seen in New Jersey in many,many years. Can Codey make enough deals to avoid a primary? How would a Codey/ Andrews primary turn out? The real wild card might be Steve Sweeney should Andrews not get involved. A Codey/ Sweeney primary........ The alliances in that one would be interesting!
WOW
Don't you mean another politician? Both Republicans and Democrats profit off public contracts on a regular basis. Don't make it seem like the DEMS are doing something new. Isn't it the status quo for politicians to behave in this manner?
MYSHector
Hold Me Accountable
but I won't ask my appointments about any possbile conflicts.
Phew!
All this time I thought Gary Rose was just a narcisistic, arrogant, screw-up who rather than attracting business to NJ actually caused businessnes to flee. Now we know he was busy protecting his personal nest egg.
Codey is an Idiot
George Zoffinger has been proven right time and time again. Just compare Zoffingers record to Codey's, there is no contest.
Other than a Codey Zoffinger primary being entertaing would be Joe Cryan Karen Golding Jello wresling contest with Jon Corzine awarding the winner 5k in bail I mean prize money.
Guess he doesn't know much
So our Governor didn't know about Rose? He should! It's just so easy to pass the buck and blame all over the place. Meanwhile we the taxpayers get screwed and Johnny Boy and his cronies feather their nests more.