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Category Archives: Investing

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, Stephen Severio, [...]

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 the quarter fell [...]

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 March [...]

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 to [...]

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 into [...]

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 a year [...]

STAPLES TO LAND IN RED BANK’S IN-BOX

The big-box retailer will lease a space less than a quarter the size of its average store at 137-139 Broad Street.
Staples Inc., the big-box office supply retailer, is coming to Red Bank.
But the giant seller of everything from pens to desktop computers won’t be opening one of its warehouse-sized stores here. Instead, it’ll be trying [...]

FAIR HAVEN MAN FACES PONZI CHARGES

A Fair Haven investment adviser who is reported to have a villa in France was charged in federal court in Newark today with running a Ponzi scheme, the Star-Ledger is reporting. The criminal allegations against Maxwell Smith follow earlier allegations…

FAIR HAVEN MAN NAMED IN ALLEGED SCAM

A Morris County judge today froze the assets of a Fair Haven investment adviser who is alleged to have swindled an elderly client out of $9 million over a decade, according to reports by the Star-Ledger and Morristown’s Daily Record….

HOVNANIAN POSTS NINTH LOSING QUARTER

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…


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    • 03.18 - HAMMETT The 1983 mystery film — a fanciful detective story with Fredric Forrest as the real life author Dashiell Hammett —screens for free at the Monmouth County Library's Eastern Branch, with showings at 2 and 7pm.
    • 03.18 - Red Bank Documentary Film Series Film critic Joan Ellis is your host as The Atrium at Navesink Harbor (that's the elegant hi—rise senior residence on Riverside Avenue) continues a free monthly series of doc screenings and discussions, with popcorn and candy on the house. Tonight it's the 1984 film THE GOOD FIGHT, a portrait of The Abraham Lincoln Brigade and the American volunteer force's struggle against the Fascists during the Spanish Civil War. Reserve by phone for all events.
    • 03.18 - The authors of THREE BROWN EYED GIRLS As part of Women's History Month, The Red Bank Library hosts an appearance by authors Rosemary Calabretta, Rosaleen Rooney Myers and V.G. Wells, with a presentation on 'how three women from different backgrounds met, bonded, told their stories to one another, and decided to take the leap and publish their book.' Also featured will be a book signing, and a panel discussion on 'work. family, the writing process, self publishing and more.'
    • 03.18 - CINDERELLA The students of Red Bank Regional High School (including Governors Award winning vocalist Michael Anderson as Prince Charming) present the Rodgers & Hammerstein musical of the classic fairy tale, with a cast of child performers as Cinderella's animal friends, and the tile role shared by Marie Ferguson and Patricia Blair.
    • 03.18 - Two River Tour de Yoga concert The band Wah! presents a concert at Rumson Presbyterian Church as part of the Two River Tour de Yoga (a promotion that includes Blue Moon Yoga of Shrewsbury, Brahma Yoga Spa of Sea Bright, Dancing Foot Yoga of Red Bank, Fair Haven Yoga and Synergy Yoga of Fair Haven). Promotion runs four days between March 17 and 20; tix and details available at any of the participating studios or at blueyoga.net.
    • 03.18 - Rock N Roll Karaoke (upstairs) The band from NYC's Arlene's Grocery hosts this popular weekly feature, in which civilian hopefuls can front a hard—rocking combo on any of a couple hundred classic rock favorites.
    • 03.18 - Monmouth County Teen Arts Festival More than 500 works of art by area teens will be on display at the Brookdale Community College Center for Visual Arts during the annual celebration of young local artists, co—presented by the Monmouth County Arts Council and BCC.
    • 03.19 - Poetry Expo at River Road Books DEADLINE 4/9: River Road Books in Fair Haven invites aspiring poets to submit original works in any of five categories (preschool, elementary, middle school, high school, adult) — with winners awarded a gift certificate and a chance to read their entry on April 16, in an event followed by Monmouth University professor and poet Mihaela Moscaliuc reading from and signing her new book FATHER DIRT.
    • 03.19 - Girls' Night Out at Sickles Market The Little Silver landmark presents a 'Step Into Spring' event with fashion and beauty tips, healthy/delicious food tastings, gardening hints, champagne, live jazz and more. A portion of proceeds benefit the Jacqueline M. Wilentz Comprehensive Breast Cancer Center. 21 and over; ID required.
    • 03.19 - Family Wii Games at MTPL Middletown Township Public Library hosts an encore session of Wii games for the whole family, in the Community Room of the main branch. Registration required; adults must be accompanied by children ages six and up.
    • 03.19 - CINDERELLA The students of Red Bank Regional High School (including Governors Award winning vocalist Michael Anderson as Prince Charming) present the Rodgers & Hammerstein musical of the classic fairy tale, with a cast of child performers as Cinderella's animal friends, and the tile role shared by Marie Ferguson and Patricia Blair.
    • 03.19 - Monmouth County Teen Arts Festival More than 500 works of art by area teens will be on display at the Brookdale Community College Center for Visual Arts during the annual celebration of young local artists, co—presented by the Monmouth County Arts Council and BCC.
    • 03.20 - Gala Fundraiser at MCM On March 27, Red Bank's Monmouth Conservatory of Music hosts a benefit event featuring DUO PETROF, with Zatin Anatoly and Vassilieva Vlada performing on dual grand pianos; a silent auction and wine/ hors d'oeuvre reception are also included.
    • 03.20 - Breakfast with the Easter Bunny On March 27, Branches Catering presents a very special breakfast with the Big Bunny featuring a sumptuous morning repast as only John Lombardo and crew could conjure it. There's a candy table and complimentary photo for kids, plus a pancake station, omelet bar and more. Reservations are a must, with kids 2 and under admitted free.
    • 03.20 - Districts 1 & 9 Get Together Red Bank Council leaders Juanita Lewis and Ed Zipprich visit Frank Talk Art Bistro for a lively roundtable discussion with continental breakfast — and you're invited to join in for this informal forum about your community.
    • 03.20 - Choo—Choo Soul with Genevieve Straight outta Playhouse Disney, the Parents Choice Award winning duo of Genevieve Goings (as the Train Conductor) and DC Abramson (as 'her beatboxing and breakdancing engineer') put a soulful, animated spin on the ABCs and 123s of music.
    • 03.20 - Paper Moon Puppet Theater Master puppeteer Jim Racioppi and crew present CINDERELLA, the latest in their long running series of Paper Moon marionette shows for family audiences. One of the Shore's best kept secrets, these productions (on the custom scaled mini stage at First Avenue Playhouse in Atlantic Highlands) combine handmade figures and scenery with genuine theatrical artistry for a rare experience that's capped by the 'backstage tour' following the show.
    • 03.20 - CINDERELLA The students of Red Bank Regional High School (including Governors Award winning vocalist Michael Anderson as Prince Charming) present the Rodgers & Hammerstein musical of the classic fairy tale, with a cast of child performers as Cinderella's animal friends, and the tile role shared by Marie Ferguson and Patricia Blair. Shows at 2pm and 7:30pm, with a special Dinner/Show package available at 6pm.
    • 03.20 - GEORGE SEGAL EVERYMAN Closing Celebration and Benefit On April 10, what was originally scheduled as a Preview Party on February 27 is now a Closing Celebration at The Monmouth Museum, with a last look at their major installation of sculptures, paintings and drawings by 20th century great Segal, featuring a discussion with daughter Rena Segal, his friend and documentary photographer Donald Lokuta, and several of the artist's other friends and models. Tickets are 65 dollars and include refreshments, tour and discussion. Contact Julia Fiorino at 732.747.2266 for reservations and further info.
    • 03.20 - Benefit Concert for Haiti with Nancy Scharff On March 27, Middletown's own globetrotting Christian music artist headlines an event for the Haiti Relief Initiative, also featuring the Seacoast Mass Choir, the Anointed Sons, The Emmanuel Baptist Church Youth Choir, and more. For further information, or to learn more about the Helping Haiti Community Initiative, call 732.747.2343.
    • 03.20 - The Queen of Hearts The country vocal group performs faves from Music City USA in four part harmony, as a fundraiser for the NJ Center for the Healing Arts, at First Presbyterian Church of Rumson. Refreshments and desserts also provided.
    • 03.20 - Facundo Cabral A superstar in his native South America and the World Ambassador for UNESCO, the Argentine singer, songwriter, guitarist, poet, painter and humanitarian visits Red Bank for the first time in a concert presented by Highness Entertainment.
    • 03.21 - Sunday Morning Dialog Series at UUMC The United Universalist Congregation of Monmouth County in Lincroft hosts Amy Goldsmith, State Director of the NJ Environmental Federation, in a discussion on green sustainability programs and environmental/ economic justice, entitled TOWARDS A GREEN ECONOMY: WHO IS IN AND WHO GETS LEFT OUT? Program includes coffee and bagels; call for directions and more info.
    • 03.21 - MSO Young Artist Concerto Competition As part of the first annual Classical Music Festival, the Axelrod Performing Arts Center hosts the annual competition sponsored by the Monmouth Symphony Orchestra, in a (free and open to the public) event that's followed with an award ceremony at 12:45pm. The first prize winner will go on to perform a solo work with the MSO during the fall 2010 concert season.
    • 03.21 - Classical Music Festival at AxPAC As part of the first annual Classical Music Festival, the Axelrod Performing Arts Center hosts a series of 40 minute showcase performances, including the NJ State Youth Orchestra, conducted by Roy D. Gussman and Patty Gonsky (1pm); students and faculty from the Monmouth Conservatory of Music (2pm); the Monmouth Symphon Orchestra Woodwind Ensemble (2:40pm); the Monmouth Civic Chorus (3pm);the Arcadian Chorale (4pm), and the Kathryn Barnett Traveling Dance troupe (5pm). A dessert reception follows in the theatre lobby.