Category Archives: Wall Street
Urban Outfitters opened its Red Bank store at the corner of Broad and West Front Streets in November. (Click to enlarge)
The parent company of the Urban Outfitters chain reported record fourth-quarter sales and a 92-percent jump in earnings today.
But sales were flat at the Urban Outfitters chain itself, with the gains coming from the [...]
The Dawkins estate in Rumson, as seen from the Navesink by redbankgreen in 2008. (Click to enlarge)
Let us stipulate right up front that Pete Dawkins does everything on a scale most of us mortals can only gape at in wonder.
Don’t know who he is? Check out his exhaustively comprehensive monument-to-self website, one befitting his [...]
Hovnanian’s headquarters on West Front Street.
Red Bank-based homebuilder Hovnanian Enterprises ended a 13-quarter losing streak in its latest reporting period, the company announced Tuesday.
Though revenue in the quarter ending on January 31 plunged 14 percent, to $319.6 million, the company managed to rack up a profit of $236.2 million, or $2.97 a share, compared [...]
February 17, 2010 – 7:28 am
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, [...]
February 2, 2010 – 7:34 am
Diane Gooch, publisher of the Two River Times and wife of Wall Street gazillionaire Mickey Gooch, is thinking about challenging longtime Democratic Congressman Frank Pallone when he’s up for re-election.
The Rumson resident, who hasn’t before run for office at any level, confirmed to PolitickerNJ.com that she’s considering a run, though she sought to tamp down [...]
January 19, 2010 – 9:36 am
Customers of a penny-stock boiler room that operated out of an office on Half Mile Road in Lincroft will share in $5.15 million obtained by authorities from stock swindler Robert E. Brennan, according to a report today from NorthJersey.com.
The defunct firm, L.C. Wegard & Co., was a legitimate stock brokerage before Brennan secretly took it [...]
December 17, 2009 – 8:43 am
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 [...]
November 19, 2009 – 7:57 am
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 [...]
November 18, 2009 – 8:11 am
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 [...]
September 28, 2009 – 8:40 am
Hovnanian’s headquarters overlooking the Navesink River.
Red Bank-based Hovnanian Enterprises is trying to refinance some $759 million in debt even as other homebuilders are beginning to buy land again, today’s Wall Street Journal reports.
The company’s moves toward a debt restructuring were underway last week when company founder and chairman Kevork Hovnanian died Friday at age 86. [...]
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