Category Archives: Economy

Sale prices on existing homes in the area that includes Monmouth County plunged 11.3 percent in the first quarter, today's Absury Park Press reports. The National Association of Realtors pegged the median home price in the Central Jersey region at...

Video documentarian Bill Day is back with another short, this time focusing on the impact of the recession on boaters and the vendors who depend on them in Red Bank. Among the locals interviewed are John Matteo and Chann Irwin...

Claudette Herring and Lauren Phillips-Daly in the doorway of their soon-to-be restaurant, Via 45. The closing of Thyme Square restaurant in Red Bank a few months back was so abrupt that, until about a week ago, one could still peer...

Red Bank employees who work in borough hall at 90 Monmouth Street will have to start packing their workweeks into four days starting in June as part of an effort to cut utility costs. The move, approved by the borough...

With a parking deck topped by two floors of offices, Galleria Park would connect to the existing building via a two-level footbridge. Below, a view of the proposed structure from West Front Street. (Click to enlarge) The nation's economy may...

The aim is to boost occupancy in the luxury building, a spokeswoman says. A sign at the entrance (below) now touts lease deals. (Click to enlarge) Red Bank's Metropolitan condo project, having failed to attract buyers both through conventional sales...

Gov. Jon Corzine during his budget address to the Legislature on Tuesday. (Photo by Tim Larsen) Is there a New Jerseyan anywhere who savors the words "state budget?" In these economic times, the phrase is apt to turn even the...

Hovnanian's head office, as seen from the foot of Maple Avenue. Red Bank-headquartered Hovnanian Enterprises, one of the nation's largest homebuilding companies, saw its losses accelerate in the most recent quarter. The company posted a net loss of $178.4. million...

It wasn't hard to find visitors pumping coins into meters in Red Bank's White Street lot at lunchtime last Saturday. Above, Nicole Collman of Manalapan, left, with Rebecca Route of Jamesburg. With some fanfare, Mayor Pasquale Menna announced at last...

Following up on last week's redbankgreen feature about Pim Van Hemmen and his Do1Thing.org, effort, we thought readers might be interested in this Ledger Live video from yesterday. In addition to a short report on the Do1Thing event at Covenant...

Mayor Pasquale Menna speaks as RiverCenter executive director Nancy Adams looks on. Through all the reports that things are worse elsewhere and exhortations that merchants find "opportunity" in the current recession, the topic that the 300 or so people who...

Big Bill Morganfield performs at the 2007 Red Bank Jazz & Blues Festival. Which is hipper, jazz or blues? Or is it the festival itself that's 'hip?' Parking shortages. Exorbitant parking fines. Red tape at borough hall. Greedy landlords. Among...

Prospective buyers packed a ballroom at the Molly Pitcher Inn, but few bid. An auction of units at the nearly completed Metropolitan condo project on Red Bank's Wallace Street was halted early Saturday afternoon after just two were sold. Officials...

Emily Asher Neiman works the room at an opening in September. By TOM CHESEK Veteran observers of Red Bank's commercial streetscape know that the phenomenon known as "the Retail Churn" goes into overdrive each January, regardless of the general economic...

Fans gather at the Stash for a 2006 appearance by Kevin Smith. Filmmaker Kevin Smith is closing the Los Angeles version of the Jay and Silent Bob's Secret Stash store, according to reports. As reported on News Askew, the official...

Mayor Pasquale Menna. In the face of an historic economic downturn, Red Bank is trimming pay for its planning and zoning board attorneys, looking at a five-percent, across-all-departments budget cut and trying to hold the line in contract talks with...

Ed Zipprich and Juanita Lewis make their New Year's Day debuts as elected officials. Running mates Juanita Lewis and Ed Zipprich, who drubbed their Republican opponents in the November election, were sworn in as council members at yesterday's annual reorganization...

The building, nearing completion, stands on the former site of Dorn's Photography and several old houses. The developer of The Metropolitan, a 37-unit condo project on Wallace Street in Red Bank, will auction off 31 of them at deeply slashed...

HOV HQ on West Front Street, Red Bank. A near stoppage in mortgage lending drove Hovnanian Enterprises to its ninth consecutive quarterly loss in the period ending October 31, the Red Bank-based homebuilder reported yesterday. According to Bloomberg, the loss...

It's hitting the gut now. The spreading economic crisis is leaving tens of millions of Americans facing the prospect of hunger as they contend with diminished earnings or joblessness and worse. According to one estimate, more than 35 million Americans...