19.06.2013 Views

New Jersey - Digital Publishing

New Jersey - Digital Publishing

New Jersey - Digital Publishing

SHOW MORE
SHOW LESS

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

Hooray! Your file is uploaded and ready to be published.

Saved successfully!

Ooh no, something went wrong!