Nassau Maneuvers: A Station Trade
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These articles were prepared
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Bloomberg Plans: To Expand 4-Fold
Just 10 years ago Bloomberg Financial Markets had only
30 workers in Princeton. Now it has 1,300 workers here and wants to
quadruple its space on Route 581 for up to 4,000 people.
Taking advantage of a recent ruling that it can tap into the
Montgomery
Township sewer system — and another ruling that involves an
endangered
species — Bloomberg is asking to build on 65 acres adjacent to
its current buildings, with 158,137 square feet on 85-acres. Under
current zoning it can build just 86,000 square feet, so it will need
approvals for its goal of 650,000 square feet in two buildings, one
500,000-foot office building, and one 150,000-foot data center, plus
parking. The approval process is expected to take at least nine
months.
Bloomberg’s major product is an electronic information service
delivered
on a special computer, the “Bloomie.” The company has 7,000
employees worldwide, with the biggest numbers in New York, London,
and Princeton. At its current growth rate of 20 percent per year,
Bloomberg expects to have from 2,500 to 3,000 employees in Princeton
in three years. Jobs in Princeton are primarily in data collection
but can also be in marketing or editorial work for four magazines.
At one point Bloomberg was talking about moving out of state to get
the space it needed, but as a stopgap it opened a data center in
rented
space at 700 College Road. Now the township has decided its sewers
have enough capacity to serve an expanded campus. Another boost to
the plan is that the buildable space has increased because of a
wetland
ruling.
At first it was thought that the wetlands housed an endangered species
of turtle, but that no longer seems to be true. The expansion would
let Bloomberg consolidate and move the data center back to Route 518.
Bloomberg Financial Markets, 100 Business ParkDrive, Box 888, Princeton 08542-0888. Stuart Bell, managing director.609-279-3000; fax, 917-369-8200. Home page:www.bloomberg.comTop Of PageNassau Maneuvers: A Station TradeNassau Broadcasting’s $185 million deal to buy nineradio stations was canceled two months after its projected $9.9millionIPO fell through. Seller Aurora Communications scuttled the contractwhen Nassau had a delay in coming up with private financing. Thecompanyhas just traded four of its smaller market stations for two stationsin Allentown, Pennsylvania plus $12 million in cash. The deal willgive Nassau and even larger total market.After the deal closes Nassau will own 19 radio stations, includingWHWH-AM, WPST-FM, and WNJO-FM in central New Jersey. It forfeitedthe $7 million deposit on the Aurora contract.Nassau Broadcasting Company, 619 Alexander Road,Box 1350, Princeton 08540. Louis F. Mercatanti Jr., CEO. 609-419-0300;fax, 609-419-0143. Home page: www.nbplp.comTop Of PageDeathsJohn P. Murray Jr., 75, on October 3. He was presidentand CEO of Atlantic Products Corp., Prince Tennis Corp., and chairmanand CEO of Wilson Sporting Goods.Rodney J. Czarnik, 54, on October 4. He had ownedPrincetonLimo Service and worked at Colonial Cadillac-Hyundai of Trenton.B>Geraldine Petty Hancock , 63, on October 4. She had beencirculation manager for Princeton University’s Population Index for45 years.Lauren F. Jasinski, 52, on October 6. She was a paralegalfor McCarthy & Schatzman on Alexander Road.Charles B. Yates, 61, his wife Anya, 34, and theirchildrenElena, 8, and William 2, on October 6 in a plane crash on Martha’sVineyard. He had been a state legislator.William P. Bundy, 83, on October 6. He was an advisorto the Kennedy and Johnson administrations during the Vietnam War.Eugene L. Krasnoff, 70, on October 6. He had beenprincipalresearch engineer with Ingersoll-Rand Research.Maurice Benton, 76, on October 7. He had a mechanicalengineering consulting practice and chaired the Montgomery Townshipplanning board.Paul Andre Feit, 23, on October 8, in a car crash. Hewas a graduate of the American Boychoir School and Princeton HighSchool.Hugh C. Minor, 76, on October 8. He was a retiredinternationalvice president of Texaco who served on the boards of InternationalSchool Services and Opera Festival of New Jersey and was a volunteertutor for the Young Scholars Institute.Previous StoryCorrections or additions?This page is published by PrincetonInfo.com— the web site for U.S. 1 Newspaper in Princeton, New Jersey.
