Category: CNB BUSINESS NEWS

NJ American Water to Spend $300,000 in Audubon to Improve Town\’s Infrastructure

CAMDEN CITY, N.J. – JAN. 10, 2020 –

New Jersey American Water

will replace approximately 1,300 feet of aging 4-inch water main in Audubon beginning next week. The company will upgrade the aging water lines, installed in the 1900s, with new, 8-inch ductile iron main along

Cedarcroft Avenue

from Mansion Avenue to Walnut Street. The project also includes replacing two fire hydrants and 40 utility-owned service lines along the pipeline route.

This $300,000 investment will continue to advance water service reliability and increase water flows for household consumption and fire protection in this community. This improvement is part of New Jersey American Water’s multimillion-dollar initiative to accelerate the

renewal of water infrastructure

that has reached the end of its useful life in more than 100 communities across the state.

New Jersey American Water’s local, qualified contractor, Pioneer Pipe Contractors, Inc., will begin work on or about January 16 and expects to finish by the end of March 2020, weather permitting. Work hours will be from 7 a.m. to 4 p.m., Monday through Friday. Work outside of these hours is not anticipated unless required to maintain project schedule. Final street restorations will be completed by Audubon Borough.

For the public’s and workers’ safety, traffic restrictions and/or alternating traffic patterns are likely to occur during work hours. All emergency vehicles and local traffic will be allowed access during construction. New Jersey American Water values the safety of its workers and advises drivers and pedestrians to take caution in the vicinity of work sites.

About New Jersey American Water

New Jersey American Water, a subsidiary of American Water (NYSE: AWK), is the largest investor-owned water utility in the state, providing high-quality and reliable water and/or wastewater services to approximately 2.7 million people. For more information, visit

www.newjerseyamwater.com

and follow New Jersey American Water on

Twitter

and

Facebook

.

About American Water

With a history dating back to 1886, American Water is the largest and most geographically diverse U.S. publicly traded water and wastewater utility company. The company employs more than 7,100 dedicated professionals who provide regulated and market-based drinking water, wastewater and other related services to more than 14 million people in 46 states. American Water provides safe, clean, affordable and reliable water services to our customers to make sure we keep their lives flowing. For more information, visit

amwater.com

and follow American Water on

Twitter

,

Facebook

and

LinkedIn

.

ETC Northeast Pipeline has been Issued a $30.6 Million Fine

By Dave Fidlin |

The Center Square

Jan, 2020

ETC Northeast Pipeline has been issued a $30.6 million fine for an explosion and fire that occurred nearly 16 months ago and resulted in widespread damage and contamination in Pennsylvania.

The Pennsylvania Department of Environmental Protection announced that it was issuing the civic penalty as part of an agreement with ETC that will give the operator the ability to resume work and correct unlawful conduct.

The fine, described by state DEP officials as “historic” because of its sizable monetary amount, is linked to an incident that occurred Sept. 10, 2018, in Center Township in Beaver County. A landslide along ETC’s Revolution Pipeline resulted in portions of the pipeline separating, which caused gas to escape the infrastructure.

On the day of the incident, the gas ultimately ignited, which resulted in a fire that burned multiple acres of forested areas.

A single-family home, a barn and numerous vehicles within the impacted area were destroyed. Six high-voltage electric transmission towers also collapsed. There were no injuries or deaths reported from the incident.

In a statement, Patrick McDonnell, secretary of the state DEP, said the amount of the fine was reflective of ETC’s failure to comply with the agency’s regulations and lack of adequately monitoring the Revolution Pipeline while it was under construction.

“DEP is committed to holding permittees accountable for permit compliance and will continue to provide active and stringent oversight over the construction of their projects,” McDonnell said in the statement. “Permittees are obligated to ensure that their projects are constructed without incident and in full compliance with permits. If a permittee fails to do so, they will be held accountable.”

The state agency’s recent news release also revealed a subsequent investigation conducted after the pipeline fire and explosion revealed ETC had not stabilized the Revolution Pipeline in multiple areas during construction and “illegally impacted” streams and wetlands in its vicinity because of inadequate stormwater runoff.

ETC, an affiliate of Energy Transfer Partners, has agreed to a number of conditions moving forward, according to state environment officials, including a provision $28.6 million of the fine go toward funds devoted to clean water and a designated oil and gas program.

The earmarked funds, according to the DEP, will help fortify some of the state’s natural areas.

Officials with ETC have not issued a formal statement on the DEP’s ruling, and an attempt to reach Energy Transfer Partners for comment this week was unsuccessful.

Moving forward, DEP officials said they will be stringently monitoring ETC’s pipeline work to ensure terms and conditions in the agreement are satisfied.

“The conditions imposed by this agreement seek to ensure that ETC will get this right,” McDonell said in the statement. “Anything less is unacceptable.”

At least one organization, the Better Path Coalition, has gone on record in opposition to the DEP’s decision. The environmental advocacy group took aim at the ETC’s track record of monitoring compliance across the state.

“Pennsylvanians jaded by the Department of Environmental Protection’s poor track record for holding polluters to account will be unmoved by the agency’s historic fine on ETC,” according to the statement from Better Path Coalition. “Instead, they will shudder at the thought that the company will be able once again to get permits for its projects.”

published here with permission of The Center Squarei

Happenings and Events in Gloucester City and Surrounding Communities

The Neighbors United Designer Bag Bingo & Basket Auction

will be Saturday, February 1 from 6 to 10 p.m. Doors will open at 5 p.m. at the Pine Grove Civic Association hall on Jersey Avenue, Gloucester City.

Bring family and friends for a great night out. Grab snacks and beverages. Complimentary desserts and coffee. Ice will be provided.

Tickets are $30 but are on sale for $25 through January 15. All bingo games will be regular bingo or four corners except for the two special games, which will be a pattern.

For information go to the Neighbors United Facebook page.

*****

The Borough of Westville would like to wish

residents a “Happy January,” and reminds everyone to register their pets.

Dog and cat registrations can be done at Borough Hall during working hours-Monday thru Thursday from 8 a.m. to 6 p.m.

******

The Gateway Regional High School Community

will sponsor an American Red Cross Blood Drive Friday, January 10, from 3 to 8 p.m., at the Health Rooms, 775 Tanyard Road, Woodbury Heights.

To schedule an appointment call 800-733-2767.

*****

Gloucester City and St. Mary’s Parish have announced

that the fifth annual St. Patrick’s Day Parade will be Sunday afternoon, March 1.

*****

The Borough of Bellmawr has announced

has announced that the new Florence Korostynski Memorial Dog Park is now open.

The park is located at Bergen Avenue and Market Street and has plenty of open space and exercise structures for dogs to run and play.

The park is named for the late Mrs. Florence Korostynski, who served the residents of Bellmawr in the tax office and volunteered her time in many capacities on several committees. The annual 4th of July Baby Parade was created by Florence and was her most adoring commitment.

*****

The Gloucester City Mayor’s Community Prayer Breakfast

will be Saturday, January 18, at 9 a.m. in Elizabeth’s Ballroom.

There will be a full, hot buffet breakfast, an ecumenical Prayer Service and Mayor Dan Spencer’s “State of the City” address.

Tickets are $12 and may be purchased at any church in town or by calling the mayor’s office at 856-456-0079. All are welcome to attend.

*****

Gloucester Catholic High School

is gearing up for its 16th annual Maroon & Golds Basket Auction, which is slated for April 30. The fundraiser solely benefits GCHS students.

The auction success depends on the support of the school community and no gift or contribution is too small. All donations are asked to be made by the end of January.

Donations can be mailed to Gloucester Catholic Junior Senior High School, ℅ Heather Mondel, 33 Ridgeway Street, Gloucester City, NJ 08030. Donations can be made through Sign Up Genius at www.signupgenius.com/go/4090C48AAA828A4F58-gloucester1.

To make a donation or for more information, reach out to Heather Mondel at

heathermondel@yahoo.com

.

*****

Mt. Ephraim Borough has a contingent of dedicated volunteers

working to trap, neuter/spay and return feral cats. They can always use more help. For animal lovers who would like to get involved – call the borough at 856-931-1546 and ask for Terry or email

boroclerk@mountephraim-nj.com

.

The TNR program is also in need of food and monetary donations, which can be dropped off at Borough Hall, 121 S. Black Horse Pike.

*****

Sanctuary choirs “makes” exciting sound

at the Gloucester City First Baptist Church, Sussex and Monmouth streets, Sundays at 10:30 a.m.

Come and hear this beautiful music. Always welcoming new choir members. For information call 456-8526.

*****

The Gloucester City High School Class of 1965

will hold its 55th year reunion at The Kove in Audubon on Saturday, April 25. The cost will be $50 per person, including a buffet dinner and entertainment, and a cash bar will be available. A meet and greet will be held at The Tap Room in Haddon Township on Friday, April 24. Discounted rooms have been made available for Friday and/or Saturday night at the Crowne Plaza Hotel in Cherry Hill. For details please contact Frank Carrick at

fcarrick@comcast.net

or 856-241-9483,

*****

The VFW Post 9563 Hall

at 52 Essex Ave., Bellmawr, offers rentals for up to 120 people. It is ideal for weddings, birthday parties, showers, etc.

Call Jeff at 609-313-3135 or the post at 856-931-9724.

*****

The American Legion Post 72 Hall,

9 Railroad Avenue, Brooklawn, is available to rent for weddings, showers, birthday parties, etc. Call the post at 856-456-9847.

*****

The VFW Post 8714 Hall,

70 11th Street Avenue, Glendora is available to rent for weddings, birthday parties, etc. Call Bob Barker at 856-534-9381.

NOTE:  If you have an event you would like listed send it to CNBNews1@gmail.com

EPA at 50: Progress for a Stronger Future

WASHINGTON

(January 06, 2020) — Today, the U.S. Environmental Protection Agency (EPA) announced its 50

th

anniversary theme, “EPA at 50: Progress for a Stronger Future.”

“For fifty years, EPA employees and our many partners have worked together to fulfill the agency’s mission to protect human health and the environment. Today, Americans enjoy cleaner land, air and water than ever before,”

said EPA Administrator Andrew Wheeler.

“I look forward to celebrating the agency’s accomplishments throughout the year, and I hope that we can inspire the next generation of environmental leaders to continue building on our progress for the next 50 years.”

Throughout 2020, EPA will commemorate the agency’s many achievements and continued progress, culminating in a 50th Anniversary celebration on Dec. 2, 2020. During the month of January, EPA will be highlighting the agency’s efforts to create a cleaner, healthier environment for all Americans. Since 1970, EPA has made significant progress in protecting the nation’s water, cleaning up our air and land, and safeguarding human health. Historic milestones include setting the nation’s air quality standards to protect human health, regulating the quality of public drinking water, creating the Superfund program to clean up hazardous waste sites, and protecting children from exposure to lead-based paint, to name a few.

EPA was established on Dec. 2, 1970, to consolidate into one agency a variety of federal environmental responsibilities including research, monitoring, standard setting, and enforcement activities to ensure environmental protection while simultaneously safeguarding human health. The agency’s first administrator, the late William Ruckelshaus, took the oath of office on Dec. 4, 1970.

For more on EPA’s 50

th

anniversary, visit:

www.epa.gov/50

Follow EPA’s 50th Anniversary celebration on social media using

#EPAat50

.

Randolph Inspection Station Temporarily Closed January 13

(

TRENTON) – The Randolph Inspection Station will be temporarily closed on Monday, January 13, 2020, due to construction work being performed at the site. The station is expected to reopen the following day on Tuesday, January 14, 2020, but please check the Motor Vehicle Commission (MVC) website,

njmvc.gov

, before heading to the Randolph station on Tuesday.

Alternative inspection stations that will be operational on Monday, January 13, 2020, include:

Washington

114 Route 31 North

(Enter on Pershing Avenue)

Washington, NJ 07882

Newton

90 Moran St.

Newton, NJ 07860

Wayne

481 Route 46 West

Wayne, New Jersey 07470

The MVC reminds customers to always check our website before visiting a local office and to take advantage of driver license renewal and other online services, such as vehicle registration renewals, driver abstract requests, and surcharge and restoration payments.

For more about the ongoing positive changes at the MVC, visit

njmvc.gov

.

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Visit us at

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.njmvc.gov

New Jersey is an Equal Opportunity Employer

National Inventors Hall of Fame Announces 2020 Inductees at CES

Honorees’ Contributions to Society Are Centerpiece of May Event

LAS VEGAS

—

Jan. 7, 2020

— Twenty-two innovation pioneers were announced today as the National Inventors Hall of Fame

®

(NIHF) 2020 class of Inductees on stage at CES

®

.

These innovators, whose landmark inventions range from the hard hat to the sports bra, will be celebrated as the newest class of Inductees during the NIHF Induction Ceremony. In partnership with the United States Patent and Trademark Office (USPTO), NIHF will honor these Inductees in Washington, D.C. on May 6-7 at one of the innovation industry’s most highly anticipated events — “The Greatest Celebration of American Innovation

®

.”

“My passion for science and creating led me to a career in engineering,” said 2020 Inductee Raffaello D’Andrea, a pioneer of mobile robotic material handling for order fulfillment, professor at ETH Zurich and founder of Verity. “It’s an honor to be recognized alongside Mick Mountz and Pete Wurman for our accomplishments at Kiva Systems.”

THE CLASS OF 2020

• R. Rox Anderson: Laser Dermatology

Anderson has improved lives across the world with his invention of laser dermatology treatments and procedures that are now commonly used to remove birthmarks, scars and other skin lesions.

• Sylvia Blankenship and Edward Sisler (Posthumous): 1-MCP for Fruit, Vegetable and Flower Freshness

Blankenship and Sisler invented 1-MCP, a compound that has become essential in preventing food waste, and increasing accessibility to fresh fruits, vegetables and cut flowers.

• Dana Bookbinder, Ming-Jun Li and Pushkar Tandon: Bend-Insensitive Optical Fiber

Bookbinder, Li and Tandon invented the bend-insensitive ClearCurve

®

optical fiber. Because it can bend without significant signal loss, ClearCurve optical fiber has reached locations previously inaccessible to optical fiber and advanced data transmission across an array of industries.

• Lisa Lindahl, Hinda Miller and Polly Smith: Sports Bra

Lindahl, Miller and Smith invented the sports bra, a revolutionary garment that has enabled women’s participation in athletic activities and advanced women’s health and well-being.

• James McEwen: Automatic Surgical Tourniquet

McEwen invented the first microprocessor-controlled automatic surgical tourniquet system, and his innovations ensure safer outcomes in nearly 20,000 surgeries across the world each day.

• Mick Mountz, Peter Wurman and Raffaello D’Andrea: Mobile Robotic Material Handling for Order Fulfillment

Mountz, Wurman and D’Andrea invented the Kiva system, a revolutionary warehouse order fulfillment system that uses mobile robots and control software to bring inventory shelves to workers, dramatically improving all aspects of fulfillment operations.

​​​​​​​

• Margaret Wu: Synthetic Lubricants

Wu advanced the field of synthetic lubricants, and she has revolutionized the way both automotive and industrial lubricants are designed and synthesized.​​​​​​​

​​​​​​​

• James Abercrombie and Harry Cameron: Blowout Preventer (BOP); (Posthumous)

Abercrombie and Cameron invented the world’s first reliable blowout preventer (BOP) to successfully contain catastrophic blowouts from oil and natural gas wells. This mechanism allowed operators to close wells, control pressure during drilling operations, protect the environment and save lives.​​​​​​​

​​​​​​​

• Stewart Adams and John Nicholson: Ibuprofen (Posthumous)

Adams and Nicholson co-developed ibuprofen, which is used worldwide to safely and effectively treat pain, fever and inflammation related to conditions from headaches to arthritis. ​​​​​​​

​​​​​​​

• Evelyn Berezin: Computer Systems for Business Use (Posthumous)

An expert in logic design and data transmission, Berezin invented a computer reservations system for airlines and founded a company that developed the first computerized standalone word processor for business use.

​​​​​​​

• Edward W. Bullard: Hard Hat (Posthumous)

Bullard invented the hard hat, the first commercially available industrial head protection device. Originally designed for miners, hard hats are now used by millions of people in an array of industries.​​​​​​​​​​​​​​

​​​​​​​

•

​​​​​​​

Floyd Smith: Modern Parachute (Posthumous)

Smith invented the modern parachute. A trapeze artist turned aviator, Smith’s invention led to the creation of the parachute industry and provided safe landings across the world, saving countless lives.

​​​​​​​

•

​​​​​​​​​​​

Frank Zybach: Center-Pivot Irrigation (Posthumous)

Zybach invented the center-pivot irrigation technology that has revolutionized agricultural production not only in America’s heartland but throughout the world.

​​​​​​​​​​For full biographies of each Inductee, visit

https://www.invent.org/inductees/new-inductees

.

THE CELEBRATION

The class of 2020 will be honored at “The Greatest Celebration of American Innovation,” a two-day event held in our nation\’s capital. Danica McKellar — star of the TV show “The Wonder Years,” Hallmark Channel regular, and author of New York Times bestselling McKellar Math books — will serve as master of ceremonies.

• May 6 – Illumination Ceremony at the National Inventors Hall of Fame Museum

at the USPTO Headquarters in Alexandria, Virginia, where new Inductees will place their names on  illuminated hexagonsin the museum’s Gallery of Icons

™

.

• May 7 – The 48

th

Annual National Inventors Hall of Fame Induction Ceremony

will be held at the National Building Museum in Washington, D.C., where the new Inductee class will be honored for its contributions to society during an evening event including a black-tie dinner, ceremony and after party. To learn more about the event, visit

https://www.invent.org/induction

.

“Innovation is the foundation for everything we do at the National Inventors Hall of Fame,” said NIHF CEO Michael Oister. “Our class of 2020 — and their world-changing inventions as diverse as ibuprofen, optical fiber, the word processor and the parachute — will be incorporated into our Innovation Ecosystem and our leading children’s STEM programs such as Camp Invention.”

The 2020 National Inventors Hall of Fame Induction Ceremony is sponsored by the USPTO, Qualcomm, AgroFresh, Corning, North Carolina State University and Red Point Digital.

About the National Inventors Hall of Fame

The National Inventors Hall of Fame (NIHF) is the premier nonprofit organization in America dedicated to recognizing inventors and invention, promoting creativity, and advancing the spirit of innovation and entrepreneurship. Founded in 1973 in partnership with the United States Patent and Trademark Office, NIHF is committed to not only honoring the individuals whose inventions have made the world a better place, but to ensuring American ingenuity continues to thrive in the hands of coming generations through its national, hands-on educational programming and collegiate competitions focused on the exploration of science, technology, engineering and mathematics. Explore the NIHF Museum

digitally

in Google Arts & Culture’s “Once Upon a Try” project

.

For more information, visit

invent.org

.

To nominate an inventor for Induction, visit

invent.org/nominate

.

New Jersey and Pennsylvania continue to dominate the sports betting market

(Gloucestercitynews.net)(January 9, 2020)–A year and a half ago, the US Senate decided to legalize online sports betting at a national level. It was a  decision that shook the global betting industry – the world\’s largest market had just opened the floodgates… or so it seemed.

What followed has been a protracted, confusing state-by-state process that has left all of US\’ states at different stages of the legalization process. The federal setup in the US has led to a patchwork effect across the country with each state deciding on whether or not to allow sports betting as well as setting their unique restrictions, fees and tax rates.

At the time of writing, there are two frontrunners in this current situation; New Jersey and Pennsylvania. It was the former that set the standards early on by creating an attractive environment for sportsbooks and customers alike. Low tax rates and an easy licensing setup which involved partnering with existing casinos meant that sportsbooks flooded into the Garden state. The most crucial decision may have been to allow full and unrestricted access online. This decision stood in stark contrast to Nevada, which requires an in-person sign-up deposit and withdrawal. Many expect the Garden State to overtake Nevada in gambling revenue soon. You can now enjoy the largest selection of

sportsbooks in New Jersey

.

Pennsylvania took a little longer to get off the ground. The 36% tax rate, and license fee of $10 million, proved an initial stumbling block for sportsbooks. However, the lure of 13 million potential customers soon attracted the likes of Sugarhouse and eventually Fanduel, DraftKings and other followed suit. It expected that the number of

PA sportsbooks in 2020

would grow to compete with NJ.

Both states boast a vast number of sports teams which will have attracted sportsbooks. PA alone is home to the Philadelphia Phillies and the Pittsburg Pirates in the MLB; the Philadelphia Eagles and Philadelphia Steelers in the NFL; the Philadelphia Flyers and Pittsburg Penguins as well as the Philadelphia 76ers in the NBA. NJ is home to the New York Jets and New York Giants in the NFL and the New Jersey Devils in the NHL.

The only state that could compete with both NJ and PA online in 2020 will be Indiana. There are currently only three IN sports books; FanDuel, DraftKings and BetRivers. It is expected that 2020 will be the year that Hoosier State begins to compete with NJ and PA.

NJ is expected to retain the crown for best state for sports betting in 2020. The gaming commission is considering to legalize esports, which could lead to even more growth. Currently, 80% of sports bets in NJ are placed via mobile betting, a trend that is set to continue as sports books continue to pump investment into their apps. New Jersians also love their basketball – in the first year, there were $200,000,000 more wagers placed on basketball than the second most popular – football.

Pennsylvania is still set to reach its full potential. There have been murmurs of a reduced tax on sports books setting up shop in the Keystone state. This would increase the state\’s competitiveness, especially concerning newcomers like Indiana and West Virginia.

images courtesy of unsplash.com

TIPS AND SNIPPETS: Thief Strikes Local Car Dealerships; LGBTQ Curriculum Arrives at 12 Schools

UPDATED:

Lt. Steve Burkhardt, spokesman for the Gloucester City Police Department, said \”Both cases are still under investigation and no charges have been signed at this time.\”

by CNBNewsnet

TRUCK THIEF BUSY IN GLOUCESTER CITY

—A brazen pickup truck thief that struck two different car dealerships in Gloucester City was the focus of a recent

Fox29 report.

One of the thefts occurred January 2, 2020 after 7PM at CW Clarke\’s Auto, located on US Route 130 south near the Gloucester City/Brooklawn border and the other was a week or so before at Gormley\’s Auto, US Route 130 and Klemm Avenue, also in Gloucester City.

There was a Haddon Township gas station robbed at Route 130 and Nicholson Road shortly after the truck was stolen from Clarke\’s.  Police have not confirmed a connection between the theft and robbery according to

Fox29.

CW Clarke owner Jeff Mauro told FOX 29, \”You hear about people taking cars when the business is closed at night or in front of someone\’s house but never when you\’re actually open for business.\” He says someone drove off with a new car as the shop owners were right across the street.

Bob Nage,

of Gormley\’s said the guy who stole the truck from his lot \”actually came in under the guise of buying it. He wanted to look at it and wanted the keys. \”The suspect got in the 2016 black Ram truck and drove straight off the lot,\” Nage said.

(READ MORE)

CNBNews contacted the police for an update on the incidents. As of this posting we have not received a response.

*********

THE LGBTQ CURRICULUM IS HERE

—Twelve schools in New Jersey will begin teaching the state\’s mandated LGBTQ inclusive curriculum this month according to nj1015.com

Gov. Phil Murphy

signed into law nearly a year ago

a measure that requires school districts to include instruction and materials that \”accurately portray political, economic, and social contributions of persons with disabilities and lesbian, gay, bisexual, and transgender people.\”

The law went into effect immediately but will apply to the 2020-2021 school year for the curriculum of middle and high schools.

The schools teaching the pilot program through June of this year include:

Asbury Park:

Dr. Martin Luther King Jr. Middle School

Hackensack:

Bergen Arts and Science Charter Middle School

Haddon Heights:

Haddon Heights Junior-Senior High School

Highland Park:

Highland Park School

Millburn:

Millburn Middle School

Morristown:

Unity Charter School

Newark:

Newark Arts High School

Rumson:

Forrestdale School

Somers Point

: Chartertech High School for the Performing Arts

Tuckerton:

Pinelands Regional Junior High School

Several schools not in the pilot program will still have access to the lesson plans but will not have a curriculum coach or professional development training. Those schools were not named.

Read More:

These 12 schools will be first in NJ to teach LGBTQ curriculum

|

How to Get a Car Loan When You Have Bad Credit Score

(Gloucestercitynews.net)(January 8, 2020)–The

credit scorecard

plays an important role in getting a loan for the car. Unfortunately, bad credit score makes the process difficult for the borrower in terms of getting a favorable loan amount, monthly payments, and average interest rates. If you have got your heart set on

purchasing the dream car, then you probably need to contact a reliable lender for receiving

auto loans

. Your lender will guarantee the best auto financing deal regardless of your credit history. Read this article for more

information on getting a car loan with bad credit portfolio.

Work On Your Existing Scorecard

It is recommended to work on your existing credit score before you decide to buy a car on a loan. Check-in advance if your credit report will allow you to get a car loan or not. The bad credit portfolio surely decreases your chances of availing loans on favorable terms and conditions. By improving the score of your credit, you can shop around to choose the lending institution that fits best with your desires. It also increases your chances of getting car loans at the lowest possible rates. You can start by evaluating all the probable items that are responsible for your bad credit profile. Clean all the liabilities by paying off your unpaid accounts, reducing the number of total debts, highlighting the positive information on your scorecard, and resolving credit report errors. The continuous improvement in your scorecard leaves a good impression on the car dealers.

Increase the Amount of Down Payment

When you get to increase the amount of down payment, it means you have automatically improved your chances to receive a car loan even with bad credit history. Higher the down payment results in lesser the number of monthly payments, shorten the terms of your loan and lower the borrowing cost. The down payment is considered as money-in-hand which can impact the decisions of car loan lenders. The auto loans lender will support you in getting a car of your dreams even with a low credit score. It tends to reduce the risks associated with the default of the debtor.

Buy a Car That You Can Afford

Have you ever heard a common saying, “the less is more?” Well, that is also true when you make your decision to apply for a loan to buy a new car. If you desire to get an expensive car, then you probably realize that you would also have to take a considerable amount of loans. Similarly, when you have a limited amount saved up as down payment, then you will again have to cover the rest of the amount by getting a loan from financial lenders. Make sure you choose a car based on your estimated budget so you can afford monthly loan payments. Also, this will allow you to negotiate the average rate of interest against an approved amount of car loan.

Put Up Collateral Option

You can benefit from the collateral option if you are in trouble because of a bad credit scorecard. The collateral option allows the financial lenders to trust you because you have the intention to pledge something of great value like your house or expensive jewelry. This technique ensures the monthly payments and the residual amount of loan in the event of default or

bankruptcy

. Be careful when pledging your valuables as collateral, because your lender will sell them in case you are not able to pay. Consider all the significant risks to avoid worse case scenarios.

Consider the Help of a Co-Signer

If you have no credit history or if you are someone with a bad credit score, then don’t you worry! You can ask your parents, friends, siblings, or even your employer to co-sign the car loan. When you are financially stable and have a definite source of income, then your people will have no problem supporting you. Similarly, lenders will be happy to close a deal with you if you are in a position to mitigate the potential risks. Be absolutely sure you can make payments on time. Otherwise, your co-signer will become responsible for your debts.

image courtesy of Pinterest

NJBIA Promotes 3 Employees to Leadership Roles

NJBIA President & CEO Michele Siekerka announced that

Michael Wallace

is the new senior vice president of Government Affairs — one of three key NJBIA staff promotions made on Tuesday.

Wallace, who joined NJBIA in 2015, handles all of NJBIA\’s advocacy efforts related to labor,

workforce development, manufacturing, and federal affairs. In his new role as senior VP, he will work closely with Chief Government Affairs Officer Chrissy Buteas on developing the legislative strategy for successfully implementing NJBIA\’s mission of creating a more competitive business environment in New Jersey so that member companies can grow and sustain their businesses.

A graduate of the University of Delaware, Wallace previously worked as a legislative aide to state Senator Fred Madden (D-4), former Camden Mayor Dana Redd and former Gov. Jon Corzine. Wallace is a resident of Sewell, Gloucester County.

Siekerka also announced two additional staff promotions:

Kate Conroy

has been promoted to vice president of Strategic Partnerships for NJBIA, and

Lisa Criscuolo

has been promoted to associate publisher of

New Jersey Business

magazine, NJBIA\’s award-winning monthly publication that reaches more than 107,000 business executives in the state.

As VP of Strategic Partnerships, Conroy is responsible for the overall management of NJBIA\’s sponsorship program, including cultivating new partners whose funding helps to support first-rate NJBIA programming and events. Additionally, she co-hosts NJBIA\’s entertaining podcast,

Other People\’s Business

, which spotlights NJBIA members and their businesses. Prior to joining NJBIA in 2015, Conroy was vice president of the Gateway Regional Chamber of Commerce, the largest business organization in the northern New Jersey-New York metropolitan region.  Conroy resides in Edison in Middlesex County.

Criscuolo joined

New Jersey Business

magazine in 2003 as an account executive before being named advertising manager and then advertising director. In her new role as associate publisher of New Jersey\’s largest long-standing business publication, Criscuolo assumes additional strategic and administrative responsibilities, while continuing her managerial and sales efforts. Criscuolo resides in Roseland, Essex County.