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|
New Jersey Insider
| Largest
Employers P-R |
| Pathmark
Stores
|
| 200
Milik Street |
| Carteret,
NJ 07008 |
| Phone:
(732) 499-3000
|
| Fax:
(732) 499-3072
|
| Web
Site: http://www.pathmark.com
|
|
| NJ
Employees:
12,800
|
| Products/Services:
Supermarket chain
|
|
| Operates 135
supermarkets in NJ, CT, DE, NY, and PA> Founded 1966 by
Milton Perlmutter, Herb Brody and Alex Aidekman, who were
among founders of WAKEFERN
FOOD co-operative operating ShopRite-stores; split from
Wakefern 1968, re-named stores as Pathmark chain>
Wholly-owned subsidiary of Supermarkets General Holdings
Corp., which in turn owned by SMG-II Holdings Corp.> Announced
March 1999 proposed $1.75 billion sale to ROYAL
AHOLD, NV, Dutch-based global supermarket chain, Royal
Ahold terminated transaction December 1999 following reported
conditions of Federal Trade Commission requiring divestiture
of 60 supermarkets in region as condition of merger approval,
Pathmark management subsequently filed lawsuit alleging breach
of contract> Filed bankruptcy reorganization plan July
2000, providing for exchange of $1 billion in debt held by
bondholders for most outstanding equity, emerged from bankruptcy
protection September 2000, intention to become public company
by year-end 2000>
Target of hostile takeover by Dart Group in 1987, ultimately
sold in $1.9 billion leveraged management buy-out with financing
from MERRILL LYNCH, but continuing debt from buy-out continued to curtail
earnings> $1.4 billion 1993 recapitalization and public
stock offering to retire debt, raise additional capital, spun
off Rickel hardware and home supplies
stores into Rickel Home Centers, which later declared
bankruptcy and terminated operations 1997; warehouse distribution
and transportation operations servicing supermarkets and drug
stores> Pathmark Super Centers, representing over half
of Pathmark stores, nearly 40% larger than average US supermarket,
also developing larger Pathmark 2000 stores with wider aisles
and larger selections, offers more than 3,000 items under
brands No Frills, Pathmark, and Pathmark Preferred through
its private-label program. |
| Pearson
Education
|
| 1
Lake Street |
| Upper
Saddle River, NJ 07458 |
| Phone:
(201) 236-7000 |
| Web
Site:
http://www.pearson.com |
|
| NJ
Employees:
1,800
|
| Products/Services:
Publishing
|
|
Peter
Jovanovich
|
| CEO |
|
|
World’s leading educational publisher, publishes some 40,000 educational,
reference and professional titles and programs and employs some 10,000 people in
40 countries around world, leading positions in every major sector of
educational publishing, including elementary and secondary school, higher
education, professional education, English language teaching, and educational
technology, both in US and internationally> Subsidiary of Pearson, plc, based
in London, one of world’s largest publishers and communications firms, other
units include Financial Times Group, sources of general business news and
analysis; Penguin Group, consumer publishing businesses including Penguin Books;
and Pearson TV, world’s leading independent international television producer
(including Baywatch, Price is Right, Benny
Hill, Family Feud), owns largest selection of game show formats in world,
largest producer of serial dramas; also owns 50% stake in the Economist Group,
publisher of world’s leading weekly business and current affairs journal, and
publishes business newspapers in Spain, Portugal, France, and South Africa>
NJ operations primarily gained through November 1998 acquisition for $4.6
billion of educational, reference and professional publications of Simon &
Schuster subsidiary of Viacom, with Viacom
retaining consumer publishing operations, including Simon & Schuster
name and imprints under Pocket Books, Scribner, and The Free Press> Pearson
subsequently announced separate deal to spin off professional and reference
publishing businesses to TX-based investment firm Hicks, Muse, Tate & Furst
for $1 billion, deal terminated following Hicks Muse attempt to renegotiate
terms> Pearson Education imprints include Prentice Hall, Addison-Wesley,
Scott Foresman, Computer Curriculum Corporation, Allyn & Bacon, Longman,
Macmillan Computer Publishing, QUE, and Sams> Simon & Schuster relocated
NJ operations then in Paramus and Englewood Cliffs 1994 to offices in Upper Saddle River with 1,600 employees,
(former headquarters of Western Union), also 400 employees in Old Tappan, 450 in
Parsippany, 200 in Paramus and 250 at book distribution center in Riverside>
Pearson Education headquarters and Pearson Technology Centre in Upper Saddle
River, other NJ locations include diversified corporate operations, distribution
and fulfillment. |
| J.C.
Penney Co.
|
| 6501
Legacy Drive |
| PO
Box 659000 |
| Plano,
TX 75024 |
| Phone:
(972) 431-1000
|
| Fax:
(972) 431-1977
|
| Web
Site: http://www.jcpenney.com
|
|
| NJ
Employees:
4,500
|
| Products/Services:
Retail discount department store chain
|
| J.
E. Oesterreicher
|
| Vice
Chairman & CEO |
|
|
Origins derive from 1902 founding by James Cash Penney of first retail store,
‘Golden Rule Store’, in mining town of Kemmerer, WY> Now operates 1,150
J.C. Penney department stores in all 50 states, Puerto Rico, and Mexico; 35
Renner department stores in Brazil; Eckerd Drugstores comprised of nearly 2,900
drugstores located in Southeast, Sunbelt, and Northeast regions of US; JCPenney
Catalog, including e-commerce, nation’s largest catalog merchant of general
merchandise; J. C. Penney Direct Marketing Services, markets insurance products
and membership services to various credit card customers by direct response
solicitations primarily in US and Canada> 1997 acquisition for $3.3 billion
of Eckerd chain, conversion 1997 of existing J.C. Penney Thrift drug chain into
Eckerd, resulting in 2,900 drug-store chain> Debt from acquisition, increased
competition, declining earnings led to sharp drop in stock price with 1998-2000
loss of $16 billion in market capitalization, announced closing in 2000 of 45
department stores and 289 Eckerd drugstores, CEO J. E. Oesterreicher announced
resignation May 2000> 18 J.C. Penney department stores in NJ in 2000, with NJ
ranking tied for 23rd of all states with latest in Phillipsburg, Jersey City,
and Freehold> NJ ranks first of all states in dollar volume of purchases from
suppliers (primarily due to purchases of pharmaceuticals, related products from
NJ health care firms); second to NC in total sales> Also regional credit
office in Voorhees. |
| Pfizer
|
| 235
East 42nd Street |
| New
York, NY 10017 |
| Phone:
(212) 573-2323
|
| Fax:
(212) 573-7851
|
| Web
Site: http://www.pfizer.com |
|
| Henry
McKinnell |
| Chairman
& CEO |
| NJ
Employees:
2,100
|
| Products/Services:
Pharmaceuticals, medical products
|
|
|
Origins derived from 1849 partnership between chemist Charles
Pfizer and his cousin, candy-maker Charles Erhart, to manufacture
bulk chemicals, pioneered fermentation technology which produced
citric acid, later used fermentation process at government
request to mass produce penicillin during World War II>
Other products included streptomycin, terramycin, Salk and
Sabin polio vaccines, Procardia blood pressure medication
(originally developed by BAYER)>
$60 billion acquisition of Peapack-based PHARMACIA
Corp. completed first quarter 2003> Introduced
1998 Viagra male impotency pill, most successful drug introduction
in history exceeded $1 billion in sales during first year,
other recent products include Zithromax antibiotic; Norvasc
hypertensive medication> Launched hostile takeover November
1999 of Warner-Lambert based in Morris Plains, attempting
to block merger previously announced between Warner-Lambert
and AMERICAN
HOME PRODUCTS, following sharp public exchanges
among senior executives and litigation, settlement reached
February 2000 provided for acquisition valued at $90 billion
by Pfizer of all shares of Warner-Lambert, payment of $1.8
billion merger breakup fee by Warner-Lambert to American Home
Products> Completion of merger creates company with annual
revenues of approximately $28 billion, including $21 billion
in prescription pharmaceutical sales, market capitalization
in excess of $230 billion, largest research budget with $4.7
billion, Pfizer shareholders
own approximately 61% of new company, Warner-Lambert
shareholders own 39%, expected to bring major reductions of
administrative workforce to reduce debt and overlapping functions>
Merged company markets seven products each with over
$1 billion in sales: Norvasc, Lipitor, Zoloft, Zithromax,
Diflucan, Celebrex and Viagra> Warner-Lambert trademarked
brands include Schick shaving line, Listerine, Halls cough
tablets, Rolaids antacid, Benadryl and Sudafed cold medications;
Dentyne, Trident gums, Clorets, Certs breath mints; Capsugel
Division world's largest producer of empty hard gelatin capsules>
Anti-cholesterol drug Lipitor introduced February 1997, generated
$1 billion in sales during first year, one of most successful
drug introductions in history, also introduced anti-diabetes
drug Rezulin, but reports of liver dysfunction associated
with drug resulted
in warnings for increased monitoring of those using drug>
Major facilities in Parsipanny (Ben Gay ointment, Visine eye
lotion), Rutherford
(Howmedica Group surgical appliance and surgical tools,
including hip, knee implants)> Former Assemblyman RICHARD
BAGGER employed as vice president-government affairs,
former mayor of Westfield, resigned from NJ legislature 2002
to accept promotion at Pfizer; former Assembly Speaker and
1989 Republican gubernatorial primary candidate CHUCK
HARDWICK vice president in NYC headquarters, resigned
1989 to enter gubernatorial race, subsequently re-joined company
after election. |
| PNC
Bank Corporation
|
| Fifth Avenue and Wood Street |
| PO Box 600 |
| Pittsburgh, PA 15265 |
| Phone:
(412) 762-3900
|
| Fax:
(412) 762-6238
|
| Web
Site: http://www.pncbank.com
|
|
| James
E. Rohr
|
| President & CEO |
| NJ
Employees:
4,000
|
| Products/Services:
Banking |
|
| PNC Bank-New Jersey
|
| Two Tower Center |
| East Brunswick, NJ 08818 |
| Phone:
(732) 220-3619 |
| Fax:
(732) 220-3058
|
|
|
|
Holding company created by 1983 merger of Pittsburgh National Corp. and
Provident National Corp.> Operates 740 branches in six mid-Atlantic and
midwestern states> Became NJ’s second-largest banking organization in
deposits and market share following acquisition effective January 1, 1996, of
Midlantic Bank, then NJ’s second largest bank, PNC now third behind FLEET
and FIRST UNION>
Midlantic acquisition preceeded by September 1995
PNC purchase of 84 branches in central, southern NJ from Chemical Bank>
Announced
1996 agreement with NJ HIGHWAY AUTHORITY to
pay for sponsorship of Garden State Arts Center, renamed PNC Arts Center,
provoking controversy over dropping of Garden State name. |
| PricewaterhouseCoopers
|
| 1301
Avenue of the Americas |
| New
York, NY 10019 |
| Phone:
(212) 596-7000 |
| Fax:
(212) 259-1301 |
| Web
Site: http://www.pw.com
|
| Samuel A. Diapazza |
| US Chairman and
Senior Partner |
|
|
| PricewaterhouseCoopers
|
| 400 Campus Drive |
| PO Box 988 |
| Florham Park, NJ 07932 |
| Phone:
(973) 236-4000
|
| Fax:
(973) 236-5000
|
| Mary
Beth Backof
|
| Group Managing Partner |
| NJ Employees:
2,750
|
| Products/Services:
Auditing/Consulting |
|
|
World's largest professional services firm with over $17 billion in revenues,
based in London, 155,000 employees in 150 countries and
offices in 116 US cities> Formed 1998 upon merger
of Coopers & Lybrand and Price Waterhouse> Jersey City
administrative and data processing center with over 2,000 employees which
services national practice, also acquired 1996 Kwasha Lipton Consulting Group
(employee benefits, technology consulting) based in Fort Lee with 600 NJ
employees> Announced restructuring plan February 2000 to to spin off
management consulting, business process outsourcing, corporate finance
activities and human resource consulting services into separate firms, thus
segregating auditing, business advisory services and tax practices>
Restructuring followed controversy 1999 over conflicts resulting from partner
ownership of shares in client companies for auditing services, including
NJ-based EMCORE CORP., resulting in
litigation, resignations of several partners. |
| Prudential
Financial
|
| 751
Broad Street |
| Newark,
NJ 07101 |
| Phone:
(973) 802-6000 |
| Fax:
(973) 802-2812
|
| Web
Site: http://www.prudential.com
|
|
| Arthur
F. Ryan
|
| Chairman & CEO |
| NJ
Employees: 16,850
|
| Products/Services:
Financial services and products
|
|
|
Founded in Newark 1875 as Prudential Friendly Society by insurance salesman John F. Dryden to offer life insurance
to lower-income workers, Dryden served as US Senator from NJ 1902-07> Now
world's largest non-bank financial corporation; employs 60,000 people worldwide
and manages $375 billion in assets; over $105 billion of insurance in force in
NJ; total NJ payroll exceeds $800 million; NJ taxes over $60 million>
Governor CHRISTINE TODD WHITMAN signed
legislation July 1998 allowing Prudential to convert from mutual company owned
by policy holders to public company owned by shareholders, implemented
2001 with distribution of $20 billion in stock to 11
million policy holders, conversion to aid Prudential efforts to raise capital
through public markets> Also changed name 2001 from Prudential Insurance
Company of America to Prudential Financial> Announced settlement March 1997 of class action suit
in US District Court of NJ relating to claims of misleading sales practices by
Prudential brokers in limited partnerships and insurance policy sales marketed
from 1982 to 1995, Prudential allocated charge of $2.6 billion for potential
claims, payout could be largest ever in class action litigation, with some 1
million customers filing initial claims and 650,000 seeking maximum
compensation> Settlement negotiations led by interstate task force chaired by
NJ DEPARTMENT OF BANKING & INSURANCE,
with some states criticizing proposed payout as biased in Prudential interests
due to close relationship
between Prudential and NJ regulators> Adverse publicity relating to
misleading sales practices resulted in management changes, staff consolidation
and reforms in marketing practices, appointment of senior executive to monitor
ethics> Also facing series of lawsuits from current, former employees
alleging discrimination and sexual harassment by supervisors> 1997 divestment
of retail mall investments, most hotels to reduce total real estate portfolio
from $8 billion to some $2 billion, sales included PARSIPANNY
HILTON and GATEWAY HILTON hotels, Forrestal office complex on Route 1 near
Princeton> 1995 spin-off of reinsurance business into separate company,
former Prudential Reinsurance, now called EVEREST
RE GROUP headquartered in Barbados with administrative offices in Liberty
Corner> Special legislation provides for appointment by Chief Justice of NJ
Supreme Court of 6 public members of Prudential board, enacted at management
request to block effort by Prudential agents to elect board members> CEO Robert Winters retired December 1995 following
reports of investigations relating to Prudential sales practices, replaced by ARTHUR
RYAN, formerly with CHASE
MANHATTAN, active in efforts for Newark redevelopment, Statewide
education reform> Sponsors PRUDENTIAL
FOUNDATION, major supporter of NJ non-profit sector, GABRIELLA MORRIS appointed Foundation president 1996, married to LEONARD
COLEMAN, former president of National League of Major League Baseball and
cabinet officer in Administration of Governor THOMAS
H. KEAN. |
|
Public
Service
Enterprise
Group
|
| 80
Park Plaza
|
| Newark,
NJ 07101
|
| Phone:
(973) 430-7000
|
| Fax:
(973) 623-5389
|
| Web
Site: http://www.pseg.com
|
|
| E.
James Ferland
|
| Chairman,
President & CEO
|
| NJ Employees: 10,800 |
| Products/Services: Energy |
|
|
Public Service initially founded 1903 after series of trolley accidents raised
concern over safety of operations of small transportation companies, organizing
group led by Thomas N. McCarter, then General Counsel of Fidelity Union Trust
Company and son of founder of MCCARTER
& ENGLISH law firm, conceived plan to create Public Service Corporation
by combining more than 500 gas, electric and transportation companies in NJ,
with McCarter named first president, held position until 1939> By 1930s
Public Service owned more than 100 utility subsidiaries throughout Eastern,
Central and Southern US, consolidated its gas and electric interests into PUBLIC SERVICE ELECTRIC AND GAS CO. and its transportation interests
into Public Service Coordinated Transport (later Transport of New Jersey),
subsequently divested out-of-state utility holdings, and in 1943 again became
stand-alone company, renamed Public Service Electric and Gas Company in
1948> In 1928, Public Service Railway Company and Public Service
Transportation Company merged to form Public Service Coordinated Transport,
which dominated trolley, and later bus, travel, Public Service engineers
designed first diesel-electric bus, and in 1937 operated
first diesel-electric bus fleet in world>
PSE&G sold transportation system to
State of NJ 1980, bus operations formed initial base of services provided
by NJ TRANSIT> Parent holding
company Public Service Enterprise Group created in 1985, current structure
adopted following NJ enactment of legislation allowing operation in deregulated
markets> Two principal direct wholly-owned subsidiaries:
Public Service Electric and Gas Company, largest public utility in NJ and
among ten largest combined electric and gas utilities in US, servicing over 2.2
million NJ customers in over 300 communities in 2,600-square-mile diagonal
corridor across NJ, one of 10 largest combined electric and gas utilities in US;
and PSEG Energy Holdings, parent of PSEG's non-utility businesses, including
PSEG Power LLC, unregulated wholesale electric generation and trading company
operating in northeastern US, also includes subsidiaries, PSEG Fossil and PSEG
Nuclear, producing surplus electricity and other products for sale to other
utilities and customers, while subsidiary PSEG
Resources and Trade finds wholesale markets for those products, acquired
minority interests September 1999 in three nuclear plants, including Salem and
Hope Creek in NJ, from CONECTIV; PSEG
Global, develops, acquires, owns and operates power production and distribution
facilities in select international and domestic markets, partnership interests
in 19 operating generation projects, also delivers electricity to more than 2.7
million customers in South America through interests in six distribution
companies, assets of $1.7 billion at year-end 1999; PSEG Resources, engages in
energy-related financial transactions in non-regulated investments, principally
in energy industry, including leveraged leases and structured, as of year-end
1999, portfolio totaled $2.1 billion; PSEG Energy Technologies offers commercial
and industrial customers services including engineering, consulting, project
design, construction and maintenance, as well as
project financing solutions to improve energy efficiencies and reduce
costs, now among 10 largest mechanical contractors in nation> JAMES FERLAND named CEO 1986, one of most prominent NJ CEOs in
outside activities, nonprofit affiliations> Major promotional backer of NJ
development, actively seeks out-of-state industry, corporate office relocations
to NJ with site location, economic research operation. |
| Quest
Diagnostics
|
| One
Malcolm Avenue |
| Teterboro,
NJ 07608 |
| Phone:
(201) 393-5000
|
| Fax:
(201) 462-4715
|
|
|
| Kenneth
W. Freeman
|
| Chairman & CEO |
| NJ
Employees: 2,200
|
| Products/Services:
Clinical testing, information and services
|
|
|
Nation's leading provider of diagnostic testing, information and services,
testing performed on human specimens to aid diagnosis, treatment and monitoring
disease; to detect workplace drug abuse; and to support pharmaceutical companies
in clinical trials of new drugs worldwide> Completed acquisition of clinical
laboratory operations of SmithKline Beecham plc for approximately $1.3 billion
in cash and stock August 1999, with SmithKline Beecham becoming largest
shareholder with 29.5% of stock, combined operations now with approximately $3
billion in annual revenues, 25,000 employees, and laboratories and patient
service centers across country and
in Mexico and United Kingdom>
Formerly known as Corning Clinical Laboratories, a subsidiary
of Corning, Inc., spun off as independent company at end of 1996 by
Corning, at same time as separate
spin-off of Corning clinical drug trial operations as COVANCE
based in Princeton, both spin-offs part of corporate restructuring by which
Corning divested businesses outside traditional glass, materials products>
Board includes DAN C. STANZIONE,
Ph.D., President, Bell Laboratories and Chief Operating Officer, LUCENT
TECHNOLOGIES> NJ serves as corporate headquarters, northeast regional
testing laboratory. |
| Ricoh
Corporation
|
| 5 Dedrick Place |
| West Caldwell, NJ 07006 |
| Phone:
(973) 882-2000
|
| Fax:
(973) 882-5842
|
| Web
Site: http://www.rocoh-usa.com
|
|
| Katsumi
Yoshida
|
| President & CEO |
| NJ
Employees:
2,100
|
| Products/Services:
Office equipment, consumer electronics
|
|
|
US headquarters of Ricoh Corp., North and South American sales and marketing
unit of Ricoh Company, Ltd., parent company in Japan> Japanese firm founded
1936 as photographic film and camera manufacturer, now one of world's 3 leading
copier and fax manufacturers, also produces office equipment, consumer
electronics with over $12 billion in worldwide revenues, $1.9 billion from US
sales> One of first Japanese firms to locate in NJ, moved from NY City in
1969, in 1993 acquired American Office Equipment, former independent dealership
based in NJ, now operates as AOE Ricoh division based in Fairfield, one of
largest office equipment dealers in Northeast, employing more than 550 people in
seven offices throughout metropolitan NY-NJ area, also acquired Savin Corp., in
1995, continue to market under
Savin brand> NJ operations include West Caldwell headquarters opened 1984
(600 employees), AOE Ricoh headquarters in Fairfield, sales and service offices
in Paramus, Edison, Cherry Hill, facility in Pine Brook, provides
administrative, customer service, marketing, distribution support for over 60
locations throughout US with 6,200 employees. |
| Royal
Ahold nv
|
| Albert
Heijnweg 1 |
| 1507
EH Zaandam |
| The
Netherlands |
| Phone:
31-75-659-9111
|
| Fax:
31-75-659-8350 |
| Web
Site: http://www.ahold.nl
|
|
| Cees
van der Hoeven
|
| President
and CEO
|
| NJ
Employees: 4,200
|
| Products/Services:
Supermarket chain
|
|
| Royal Ahold,
largest supermarket chain in The Netherlands, owns over 3,000
supermarkets in US, Netherlands, Portugal, Czech Republic,
Poland, Southeast Asia, and Brazil with annual sales of over
$35 billion, employs over 200,000 internationally> Ahold
USA corporate arm of Royal Ahold in US, leading supermarket
company on East Coast, with annual sales over $20 billion>
Ahold USA headquarters in Atlanta, GA, overseeing 4 operating
companies, BI-LO, Giant (including Edwards), Tops, and Stop
& Shop (acquired 1996)> NJ operations primarily derived
from purchase by Royal Ahold for $188 million effective
July 1995 of former independent family-owned and Elizabeth-based
supermarket chain, Mayfair Super Markets operating under Foodtown
name, with stores converted to operation as Edward’s Super
Foods, part of Ahold’s Giant Foods group, based in Carlisle,
PA, which operates over 160 stores in Mid-Atlantic under Giant
Foods, Edward's Super Foods, and Martin's names> 27 NJ
stores in 1999> Announced March 1999 proposed $1.75 billion
purchase of PATHMARK
STORES, NJ’s
second-largest supermarket chain, terminated transaction
December 1999 following reported conditions of Federal Trade
Commission requiring divestiture of 60 supermarkets in region
as condition of merger approval, Pathmark subsequently
filed lawsuit against Royal Ahold alleging breach of contract>
NJ-based CHECKPOINT
SYSTEMS and Giant Foods signed contract June 1997 for
chain-wide installation of Checkpoint’s radio frequency electronic
article surveillance system |
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