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Category Archives: Investing

WHERE’D THE LOVE GO?

The former home of Love Lane Tuxedos is one of downtown Red Bank’s most persistent large vacancies. (Click to enlarge) By MIKE BARON Where’s the love for the old Love Lane building? The prominent storefront on West Front Street, with its distinctive retro signage, has remained stubbornly vacant for eight years, and the exterior is [...]

‘FLOATING’ DOWNTOWN OFFICE WAFTS TO OK

The addition will connect two existing buildings while permitting vehicles to pass underneath. (Click to enlarge) By JOHN T. WARD Framed by talk about its positive effects on lunchtime restaurant business, a plan for an office bridge between two downtown buildings won easy approval from the Red Bank zoning board Thursday night. With no objectors [...]

MORE RED INK FOR RED BANK HOMEBUILDER

Hovnanian’s Red Bank HQ, as seen from the foot of Maple Avenue. Hovnanian Enterprise reported a $72.7 million loss as revenue fell in latest fiscal quarter. The deficit was worse than Wall Street analysts had anticipated, according to a Bloomberg News report in the New York Times. The Red Bank-headquartered national homebuilding company reported that [...]

BOSS BUSTED FOR EMPLOYEE BENEFIT THEFTS

Middletown police say they arrested a township-based employer Tuesday for theft of his workers’ Individual Retirement Account benefits. David Crosby, 56, of Murphy Road in the Port Monmouth section, was arrested at his home by police and agents of the United States Secret Service. They allege that Crosby,  owner of Crosby Site Work and Utility [...]

PENNY FETCHES 170,000,000 PENNIES

A Lincroft rare-coin dealer has sold a World War II-era penny for $1.7 million, according to a report by Coin Update News. Legend Numismatics handled the sale of the coin, a 1943 penny struck from the “wrong” metal, Coin Update says.

HOV BEATS OUTLOOK — IN WRONG DIRECTION

File photo of the company’s headquarters overlooking the Navesink River. (Click to enlarge) Homebuilder Hovnanian Enterprises slashed its net loss in its latest fiscal quarter, but still produced more red ink than Wall Street analysts were expecting, according to Bloomberg. The Red Bank-based company racked up $72.9 million in losses in the period that ended [...]

ADMITTED SCAMMER GETS SEVEN YEARS

Forty-one-year-old financial advisor Stephen Severio of Fair Haven was sentenced to seven years in prison Friday after admitting that he defrauded clients out of more than $700,000, the Asbury Park Press reports. Many of the 34 clients Severio admitting bilking were elderly, according to the Monmouth County Prosecutor’s office, which handled the case. According to [...]

HOV POSTS ANOTHER QUARTERLY LOSS

Hovnanian’s headquarters overlooking the Navesink River at Maple Cove. (Click to enlarge) The misery isn’t over at Red Bank-based national homebuilder Hovnanian Enterprises, despite a brief return to the black two quarters back. The company reported a net loss of $28.6 million in its second fiscal quarter, which ended April 30,  compared with $118.6 million [...]

ABOVE BROAD STREET, A WALL STREET SHAKER

Two major newspapers take a peek today into the world of technology-driven stock trading— and its connection to a whipsaw drop and rebound in prices earlier this month — by spotlighting a little-known Red Bank firm called Tradeworx. In “humdrum” offices above the Restoration Hardware store on Broad Street, reporter New York Times Julie Crewell [...]

FAIR HAVEN BROKER COPS TO $700K SCAM

A stockbroker from Fair Haven is looking at seven years in prison under the terms of a plea deal he accepted yesterday for pocketing nearly $700,000 he swindled from 31 clients, the Monmouth County Prosecutor announced yesterday. Here’s the text of a press release from the office of Prosecutor Luis Valentin: On February 16, 2010, [...]

HOV REVENUE FELL BY HALF IN 2009

Hovnanian’s Red Bank HQ, as seen from the foot of Maple Avenue. Hovnanian Enterprises reported a fourth-quarter net loss of $250.8 million yesterday. That’s down from a net loss of $450.5 million in the final fiscal quarter of 2008, the Red Bank-based homebuilder disclosed. In announcing its results, the publicly traded company said revenue in [...]

MONEY MAN ADMITS TO STATE FRAUD CHARGES

One day after he pleaded guilty to federal charges arising from an $8 million investment scam, Fair Haven resident Maxwell Smith was in state court Wednesday, owning up to more allegations. The 69-year-old former financial adviser at Cantone Research in Tinton Falls faces up to 15 years on the state charges when he’s sentenced on [...]

FAIR HAVEN MAN ADMITS $8 MILLION SCAM

Maxwell Smith, a 69-year-old financial advisor and Fair Haven resident, pleaded guilty to fraud charges yesterday, admitting he stole at least $8 million from clients. He faces up to 20 years in prison when sentenced by U.S. District Judge Mary L. Cooper in Trenton on February 26. Meantime, he’s free on $1 million bail, according [...]

MERRILL BROKER INDICTED FOR FRAUD

A former broker at the Red Bank office of Merrill Lynch was indicted by a Monmouth County grand jury yesterday on charges that he swindled $500,000 from more than two dozen clients. Forty-year-old Steven Severio of Fair Haven is alleged to have persuaded  investors to cash out of some holdings and roll over the proceeds [...]

HOV POSTS 12TH CONSECUTIVE NET LOSS

Hovnanian’s HQ, at the foot of Maple Avenue in Red Bank. Homebuilder Hovnanian Enterprises has notched its third straight year in red ink, according to data released Wednesday. The glimmer of good news for investors in and employees of the Red Bank-based company is that the latest quarterly deficit was smaller than the one recorded [...]


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    • 05.21 - Free movies at MTPL: WAR HORSE Middletown Main Library hosts a free screening of the recent Steven Spielberg film (starring David Thewlis and Benedict Cumberpatch) from the children's novel and hit Broadway play.
    • 05.21 - Approaching Poetry: American Poetry Since 1945 In celebration of National Poetry Month, the Eastern Branch of the Monmouth County Library in Shrewsbury hosts another in a weekly series providing an introduction to American poetry in the Post WWII era. Please register at library.
    • 05.21 - Pat Guadagno at Jamian's A Monday night Red Bank tradition continues, as the Shore's celebrated 'saloon singer' moves his weekly solo sets to Jamian's Food & Drink.
    • 05.22 - Navesink Business Group Open House 'Taking Care of Our Own' is the theme as dozens of Red Bank area businesses of all sizes and types come together for an evening of networking at Two River Theater, with a 'focus on helping recently returned veterans gain employment with non—government entities and provide an outlet for them to speak with local business owners regarding career advancement.' Free admission, with numerous discounted services to veterans from local business owners. All proceeds from a food/ wine/ gift auction go to Operation Homefront and Red Bank nonprofit Lunch Break.
    • 05.22 - REFLECTING THE EARTH: Pianist Julia Muench Middletown Main Library hosts the classical keyboard artist in a free recital of pieces by Chopin, Debussy, Mendelssohn and others.
    • 05.23 - MY WONDERFUL DAY The work of one of the world's most popular (and prolific) playwrights comes to the Two River Theater stage, via Alan Ayckbourn's 'frenetic domestic farce of marital infidelity, volcanic egos, and comic misunderstandings' in a rich TV personality's household — as seen through the fully observant eyes of the house cleaner's 9 year old daughter. Shows at 1pm and 7pm.
    • 05.23 - Caregiver Support Group at Red Bank Library The RBPL hosts Colleen Smith of the Monmouth County Office on Aging in a free informational presentation, aimed at those who care for aged family members or other elderly citizens. Call 732.308.3770 x8780 for more info.
    • 05.23 - 2012 Basie Awards The Count Basie Foundation's 7th annual awards honoring excellence in Monmouth County high school theater features performances excerpted from the nominated shows and plenty of guest presenters.
    • 05.23 - Reggae Night with Random Test A Wednesday night tradition in Red Bank continues, as the Shore based partystarters bring the warm and the cool to Jamian's Food & Drink.
    • 05.23 - MAD Wednesday at The Downtown Music, Art & Drafts Wednesdays continue at The Downtown, where upstairs you'll find bargain priced domestic drafts, plus 'some of the best local and touring musical acts along with amazing artists from the tri—state area' — starting at 9pm.
    • 05.24 - Nature Pre—School Thursdays at Poricy Park Poricy Park Conservancy hosts morning (9:30am) and afternoon (12pm) sessions of fun, nature related activities for preschool aged children.
    • 05.24 - New Jersey State of the Shore The Sea Gulls Nest on Sandy Hook is the setting for the 10th annual presentation by NJ Sea Grant Consortium, on the state of our local shoreline in preparation for the 2012 summer beach season.
    • 05.24 - Drawing and painting with Rocco Scibetta The artist hosts a Thursday night series in May at Red Bank Public Library. Registration required; sign up in person or by calling 732.842.0690.
    • 05.24 - Thursday Night Band Nights The Fixx spotlights 'New Jersey's Hottest New Bands' each week til closing.
    • 05.24 - Revival feat. Seacoast Mass Choir at Pilgrim Baptist Red Bank's Pilgrim Baptist Church invites all members of the community to a Revival performance by the Seacoast Mass Choir, capping the 2012 Lecture Series (coordinated by the Rev. Dr. Lester Taylor) on the theme of 'Relevant Church Leadership for the 21st Century.' Call 732.747.2343 for more info.
    • 05.24 - Pat Guadagno's BOBFEST With the 14th annual musical celebration of Bob Dylan's birthday (the young upstart is 71 years of age here in 2012), the Shore's perennial 'saloon singer' brings his signature concert event to the big Basie stage and auditorium for the first time, with Tired Horses in tow and NJ 101.5's Big Joe Henry taking advantage of the spacious new digs. Proceeds benefit the Rock & Roll Music Fund and the Anthony X. Guadagno Scholarship Fund at the Berklee College of Music.
    • 05.24 - MY WONDERFUL DAY The work of one of the world's most popular (and prolific) playwrights comes to the Two River Theater stage, via Alan Ayckbourn's 'frenetic domestic farce of marital infidelity, volcanic egos, and comic misunderstandings' in a rich TV personality's household — as seen through the fully observant eyes of the house cleaner's 9 year old daughter.
    • 05.24 - Grateful Thursdays at Jamian's It's Dead around here: a Thursday night tradition in Red Bank continues, as a rotating roster of acts joins likeminded friends at Jamian's Food & Drink.
    • 05.24 - Rock N Roll Karaoke The band from NYC's Arlene's Grocery hosts this popular weekly feature at The Downtown, in which civilian hopefuls can front a hard—rocking combo on any of a couple hundred classic rock favorites.
    • 05.25 - Yoga for Adults Amy Richardson leads a free Friday afternoon session at Red Bank Library. No registration required; bring your own mat.
    • 05.25 - MY WONDERFUL DAY The work of one of the world's most popular (and prolific) playwrights comes to the Two River Theater stage, via Alan Ayckbourn's 'frenetic domestic farce of marital infidelity, volcanic egos, and comic misunderstandings' in a rich TV personality's household — as seen through the fully observant eyes of the house cleaner's 9 year old daughter.
    • 05.25 - Reckless Steamy Nights in Red Bank The Jersey Shore Jazz and Blues Foundation hosts the cool and collected combo known as Tri City Jazz, as the latest in a renewed monthly series of BYOB house parties at the old Anthony Reckless Estate. Proceeds benefit the scholarship programs of the JSJBF and the Woman's Club.
    • 05.26 - Run to Hear 5K Race at Thompson Park RESERVE NOW for June 9. The Middletown Lions Club Charitable Foundation hosts a 5K run/walk event to raise funds for the organization's free hearing aid program, open to runners and walkers of all ages, and presented at Thompson Park in Lincroft on a course that mixes grass, dirt trail and paved surfaces. Medials and trophies will be awarded in all age groups, with tee shirts to all registrants and a drawing for a 1000 dollar scholarship. Click for phone and web links to register.
    • 05.26 - Robotics Programming Workshop at MTPL Middletown Main Library and the Science, Engineering and Technology (SET) Club of the Monmouth County 4H invite kids ages 10 to 15 to 'learn skills in engineering, design, & development to program robots, while developing critical thinking faculties.' Workshop limited to 12 participants; register in advance online or by phone.
    • 05.26 - Auto Show and Motorcycle Meet in Middletown REGISTER NOW for June 30. The Middletown Lions Club hosts the 7th annual event to benefit the club's Charitable Foundation (which in turn supports a wide variety of locally based nonprofits), with a display of classic chrome in the parking lot of Middletown Shopping Center (Route 35 North and New Monmouth Road). All classes of vehicles including stock, custom, antique, hot rod, collector, imports, luxury, and trucks are encouraged in addition to motorcycles. Click for phone or email links to register a vehicle in the show; admission to the public is free and rain date is Sunday, July 1.
    • 05.26 - MY WONDERFUL DAY The work of one of the world's most popular (and prolific) playwrights comes to the Two River Theater stage, via Alan Ayckbourn's 'frenetic domestic farce of marital infidelity, volcanic egos, and comic misunderstandings' in a rich TV personality's household — as seen through the fully observant eyes of the house cleaner's 9 year old daughter. Shows at 3pm and 8pm.
    • 05.26 - Benefit Concert at Monmouth Conservatory REGISTER BY MAY 26. On the afternoon of Saturday, June 2, Red Bank's Monmouth Conservatory of Music hosts its annual fundraiser concert, featuring violinist Mark Peskanov and pianist Nina Kogan in a program of works by Brahms, Beethoven, Prokofiev and Bizet—Sarasate. A Meet the Artists reception with cocktails and hors d'oeuvres follows; seating is limited, so click for phone and email links to advance registration.
    • 05.26 - 2nd Annual Summer Car Show Series at BCC The Brookdale Community College Automotive Department hosts the continuation of the monthly event, with music, food and a trophy competition, all of it weather permitting out in Parking Lot 6 on the Lincroft campus.
    • 05.26 - Glen Campbell The legendary singer and guitarist is on the road one more time with his much publicized Goodbye Tour — and the Red Bank audience has one more opportunity to catch the Grammy winning favorite performing a span of hits from a 50 year career, including 'Gentle on My Mind,' 'Wichita Lineman,' 'By the Time I Get to Phoenix,' 'Rhinestone Cowboy' and 'Southern Nights.'
    • 05.26 - Bob Burger at Walt Street Pub The bespectacled Burgermaster of all music (and friend to the scary famous) returns to station stop Red Bank for some Saturday night sets.
    • 05.27 - Red Bank Farmers Market Fresh, locally grown produce from some of New Jerseys finest farmers, plus equally homegrown crafts, at this Sunday morning staple running May through the end of November in the Galleria parking lot.
    • 05.27 - RBR Teen Performance at MTPL Middletown Main Library hosts students from Red Bank Regional High School's Academy of Visual and Performing Arts as they share original works in music, poetry and drama.
    • 05.27 - MY WONDERFUL DAY The work of one of the world's most popular (and prolific) playwrights comes to the Two River Theater stage, via Alan Ayckbourn's 'frenetic domestic farce of marital infidelity, volcanic egos, and comic misunderstandings' in a rich TV personality's household — as seen through the fully observant eyes of the house cleaner's 9 year old daughter.
    • 05.27 - Steve Winwood SOLD OUT! Last time this multiple Grammy winner and Britrock ambassador rolled into Red Bank with his tour bus, he braved an epic blizzard — and with the seasonal weather on his side this time, he'll surely deliver a relentless 50 year retrospective of signature songs from the Spencer Davis Group ('Gimme Some Lovin'), Traffic ('Dear Mr. Fantasy'), Blind Faith ('Can't Find My Way Back Home') and his impressive run of 1980s solo hits ('Higher Love,' 'Back in the High Life').
    • 05.27 - Open Mic with Rob Dye and Mike Ghegan The Sunday night event is THE place to find musicians congregating, hanging out, trying new ideas, cutting up on some classics and generally enjoying one of the MUST events for Jersey Shore music fans.
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