New Jersey Senate Republicans » Senator Joe Pennacchio (R-26)

Senator Pennacchio Challenges Investment Council Members With Lehman Ties to Disclose Roles

Andy Pratt — Mon, 06 Oct 2008 17:16:52 +0000

State Senator Joe Pennacchio (R-Morris/Passaic) is calling on sitting members of the New Jersey Investment Council with ties to the bankrupt Lehman Brothers investment firm to disclose what, if any role, they played in the State’s ill-advised $178 million investment in the now bankrupt Wall Street bank. The State has admitted losing more than $115 million [...]

Pennacchio: Administration’s Tax And Anti-Business Policies Are Forcing Middle-Class And Jobs Out Of State

Bill Murray — Thu, 02 Oct 2008 19:53:38 +0000

Senator Joe Pennacchio issued the following statement regarding the Department of Labor and Workforce Development’s testimony today. “It is outrageous that the Administration would cite a study that it bought a paid for to explain the exodus of jobs and people out of the state. Every independent study conducted on this phenomenon blames the tax and [...]

Pennacchio Asks Corzine for Explanation of Lehman Investment

Andy Pratt — Thu, 02 Oct 2008 16:57:57 +0000

Neither the State Investment Council Nor the Treasurer Have Provided Answers Senator Joe Pennacchio, (R-Morris/Passaic), sent a letter asking Governor Corzine to release a complete account of how the state pension funds decided to invest $178 million in Lehman Brothers, a now bankrupt Wall Street investment bank. The state pensions reportedly lost at least $115 million [...]

Pennacchio: Treasurer Needs to Explain What Happened With Lehman Investment

Andy Pratt — Fri, 19 Sep 2008 18:09:31 +0000

Senator Joseph Pennacchio, a member of the Senate Labor Committee, issued the following statement after learning the state pension system has reported it lost $115.5 million on an ill-advised investment in now-bankrupt Lehman Brothers Holdings: “I’m glad the State Investment Council gave an accounting of its losses in Lehman thus far and admitted the investment was [...]

Pennacchio: State Took Huge Risk Trying to Bail Out Wall Street Bank

Andy Pratt — Mon, 15 Sep 2008 15:58:25 +0000

State Workers Right to Question Why Pensions Expected to Lose More Than $51 Mln Senator Joseph Pennacchio, Republican of District 26, said this after he read that the state pension system may lose $51 million or more on a risky investment in Lehman Brothers Holdings, a now–bankrupt Wall Street investment bank: “A news report in the Star-Ledger [...]

Latest Corruption Proves Need for “Transparency in Government Act”

Bill Murray — Wed, 10 Sep 2008 18:19:42 +0000

Morris Plains, NJ – State Senator Joe Pennacchio (R-Morris/Passaic) is calling on the Governor and Legislature to act now in passing S-445 (http://www.njleg.state.nj.us/bills/BillsByNumber.asp). “When I pick up the paper and read about the widespread culture of corruption in New Jersey, it becomes clear that the time to act is now. It’s time to walk the [...]

Cross Section of NJ Municipalities Endorse “Transparency in Government Act”

Bill Murray — Tue, 09 Sep 2008 15:28:51 +0000

State Senator Joe Pennacchio (R-Morris/Passaic) released a list of New Jersey municipalities who have endorsed S-445. The “Tranparency in Government Act” would establish a State public finance website which retains and displays data and information on the State’s annual revenues, expenditures and total bonded indebtedness. The bill establishes an accessible, user friendly source of information [...]

Pennacchio Says Corzine Comments on Lenders Apply to Highway Funding As Well

John Gorman — Thu, 28 Aug 2008 19:31:33 +0000

Senator Joe Pennacchio (R-26) says he agrees with Governor Corzine’s comments on policy regarding federally backed mortgage lenders, and says legislators should keep the Governor’s words in mind as they debate the Transportation Trust Fund in the fall. In published reports Corzine said the following about Fannie Mae and Freddie Mac, two mortgage lenders created by [...]

Pennacchio: Belmar Mayor’s Manners Inexcusable

Andy Pratt — Wed, 16 Jul 2008 18:26:41 +0000

Senator Joe Pennacchio, R-26, issued this statement after reading an online newsletter by Belmar Mayor Kenneth Pringle that used ethnic and sexist stereotypes to refer to New York and Staten Island tourists who frequent the New Jersey Shore town: “Whether the Mayor Pringle means his rude comments as a joke or not, he offends a lot [...]

Pennacchio: Hands off Greystone Open Space

Bill Murray — Thu, 08 May 2008 14:31:53 +0000

Morris Plains, NJ — Senator Joe Pennacchio (R-Morris/Passaic) is calling on the administration to protect currently owned state land rather than raising another tax. Democrat Senators have expressed their intentions to impose a new water tax on New Jersey residents. The new water consumption fee would cost taxpayers an additional $0.40 per thousand gallons of water [...]