New Jersey - Digital Publishing
New Jersey - Digital Publishing
New Jersey - Digital Publishing
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
UI<br />
> Continued from page 5<br />
repaid to the federal government,” Fedorko<br />
said, referring to the more than $1 billion<br />
the state has borrowed to fund benefits.<br />
Two proposals from Christie that appear<br />
to be off the table — at least, for now<br />
— are reductions in the maximum weekly<br />
benefit and a mandatory one-week wait to<br />
start receiving benefits.<br />
Ehlbeck said the current federal law<br />
governing extended UI benefits prevents the<br />
state from reducing benefits, and added this<br />
may not be the best time to make the changes,<br />
given the fragile state of the economy.<br />
However, Ehlbeck said, business owners<br />
remain concerned that <strong>New</strong> <strong>Jersey</strong> has<br />
some of the most generous<br />
benefits in the<br />
country. Out-of-work<br />
residents can collect a<br />
maximum of 60 percent<br />
of their average weekly<br />
wages in the base year,<br />
up to $598. That’s the<br />
second-highest maxi- Fred H. Madden Jr.<br />
mum in the country, after Massachusetts,<br />
for workers without dependents.<br />
Assemblyman Joseph V. Egan (D-<strong>New</strong><br />
Brunswick), who sponsored the bill in his<br />
house, said he wanted to include only one<br />
year of increases in the bill, but agreed to<br />
allow a two-year increase. Egan and state<br />
Sen. Fred H. Madden Jr. (D-Turnersville),<br />
who sponsored the Senate version of the<br />
bill, are the chairmen of the labor committees<br />
in each house, and served as nonvoting<br />
members of the task force.<br />
Egan credited state Labor Department<br />
officials with providing the information<br />
needed to reach a consensus on<br />
the task force.<br />
The state raided the UI fund for years<br />
without raising the taxes to build it. Since<br />
the recession, employers have been hit<br />
with two increases in their UI taxes.<br />
E-mail to: akitchenman@njbiz.com<br />
IN BRIEF<br />
VaxInnate receives $200M<br />
for its flu vaccine testing<br />
Cranbury-based VaxInnate Corp.<br />
announced last week it was awarded<br />
a government contract worth nearly<br />
$200 million for its work with a new<br />
technology for developing flu vaccines.<br />
The contract from the Biomedical<br />
Advanced Research and Development<br />
Authority, part of the U.S. Department<br />
of Health and Human Services, provides<br />
$118 million for a base period of<br />
three years, and an additional $78 million<br />
for an optional two-year extension.<br />
According to Dr. Thomas Hofstaetter,<br />
president and CEO of VaxInnate,<br />
the government is unhappy with<br />
the industry’s response time when<br />
it comes to producing flu vaccines.<br />
VaxInnate’s method involves growing<br />
vaccines in bacteria, instead of chicken<br />
eggs, so “we can make large amounts<br />
in a very short period of time,” Hofstaetter<br />
said. – Laura Mortkowitz<br />
Report: Small businesses<br />
play role in hiring boost<br />
Small-business hiring helped spur a rise<br />
in private-sector employment, according<br />
to the most recent ADP National Employment<br />
Report, released Wednesday.<br />
Nonfarm employers added a<br />
total of 217,000 workers in February,<br />
well above the average gain of 63,000<br />
during the prior six months, with small<br />
businesses adding 100,000 of those<br />
employees, according to Automated<br />
Data Processing.<br />
Small business’ strong showing “is<br />
consistent with the long-term pattern,”<br />
said Patrick O’Keefe, director of economic<br />
research at Roseland-based J.H.<br />
Cohn LLP. “Smaller businesses operate<br />
on a tighter budget than large ones, so<br />
they’re more prone to reduce employment<br />
when their income shows signs<br />
of decline — but small businesses are<br />
also more responsive and nimble when<br />
the economy picks up.” – Martin C. Daks<br />
Horizon replaces one<br />
Marino for another<br />
Robert A. Marino last week became<br />
president and CEO of <strong>New</strong>ark-based<br />
Horizon Blue Cross Blue Shield of <strong>New</strong><br />
<strong>Jersey</strong>, replacing William J. Marino,<br />
who retired as chairman and CEO after<br />
17 years of leading the company. The<br />
two men are not related.<br />
Robert Marino was promoted<br />
from executive vice president and chief<br />
operating officer. A 38-year veteran of<br />
the Blue Cross Blue Shield system, he<br />
has been an officer of the company for<br />
nearly 20 years.<br />
“Given my <strong>New</strong> <strong>Jersey</strong> roots, it is<br />
truly an honor to lead the state’s oldest<br />
and largest health insurer,” Marino<br />
said. Horizon is by far the state’s largest<br />
health insurer, with 3.6 million members.<br />
– Beth Fitzgerald<br />
8 March 7, 2011 ◆ njbiz www.njbiz.com