Trust Company To Downtown Princeton
Technology Grants To Higher Education
McKesson HBOC: Outsourcing For Pharmas
Cooperate, But Don’t Squeeze the Charmin
Stock News: ITXC’s Highs & Lows
Corrections or additions?
These articles by Barbara Fox were prepared for the November 22,
2000 edition of U.S. 1 Newspaper. All rights reserved.
Millstone Bypass: The Next Stop
Now that Governor Christie Whitman has ordered up an
environmental impact statement (EIS) for the proposed Millstone Bypass
project, the New Jersey Department of Transportation has scheduled
an information meeting on Monday, December 11, from 6:10 to 10:30
p.m. at the Sarnoff Corporation, 201 Washington Road.
Opponents, especially, are already lining up to make their positions
known. The West Windsor-Plainsboro News, U.S. 1’s sister publication
that serves the township that will accommodate most of the bypass,
has received two letters opposing the project. One urges the Federal
Highway Administration to essentially throw out previous alternative
alignments and begin the planning process from scratch. The other
is from two West Windsor residents who take issue with their mayor,
Carole Carson, and oppose the project.
The DOT will hire a consultant to do the EIS, which could begin early
next year and take up to two years to complete. The Federal Highway
Administration will use the EIS to decide whether the Millstone Bypass
project should move forward.
The EIS is a more indepth study than the recently completed
environmental
assessment (EA). The EA is subject to public comment only when it
is finished, whereas the EIS provides for formal public comments as
the EIS is developed.
The proposed bypass would eliminate four traffic lights on Route 1
(thereby making the entire Princeton Route 1 corridor a light-free
roadway), replace the old Millstone River bridge, and widen Route
1. The proposed new section of Route 571 would begin at the Princeton
Junction train overpass, go west along the river, cross Route 1 south
of Harrison Street, and run along the D&R Canal to Washington Road,
just east of the canal.
“Reducing traffic congestion on Route 1 is a very important goal,
as is reducing the air pollution caused by the congestion,” says
Governor Whitman. “We must ensure, however, that we are not
creating
more harm to the environment than we are trying to eliminate.”
Top Of PageTrust Company To Downtown Princeton
Organizations that work with wealthy clients apparently
need to set up shop on the western side of Route 1. At least that’s
what U.S. Trust has decided. When it opens an office at Palmer Square,
it will be the fourth trust company in downtown Princeton.
State approvals have come through for U.S. Trust Company of New Jersey
to move its private banking office from 5 Vaughn Drive to the 3,400
square-foot retail space on Hulfish Street formerly occupied by
Triangle
— Your Creative Center and H. Gross. “It’s an exciting time
for us,” says Dana Lichtstrahl of the trust company’s marketing
department. “We also anticipate our back office moving next
summer,
somewhere east of Route 1.”
“We are trying to make banking more accessible to people so they
don’t have to cross over Route 1,” says Lichtstrahl. “We fit
so well in that Hulfish Street area — that is a hard retail corner
to be successful in. We are a destination rather than a walk-in
store.”
“We are pleased to be opening our doors in the downtown Princeton
community and look forward to greeting our longstanding and new
private
banking clients,” says Harry O’Mealia, president and CEO of U.S.
Trust. Christine Stives, senior vice president of private banking,
will lead the new office.
Manhattan-based Mancini-Duffy is designing the Hulfish Street space.
Including tellers, there will be four to six employees, along with
meeting rooms and space to have tea and coffee, says Lichtstrahl.
“We will be able to have some small seminars for clients and
nonclients
on everything from managing family money to tax day.” Provisions
will be made for free parking, probably through stamped parking
tickets.
A low-key opening celebration is planned for Monday, December 18.
U.S. Trust Corporation, based in New York and founded in 1853, was
purchased by discount broker Charles Schwab last May. For obvious
reasons, the brands are being kept separate.
U.S. Trust New Jersey is a wholly owned subsidiary. After entering
the New Jersey market with the 1992 purchase of Delafield, Harvey,
Tabell, it opened a Morristown office in 1998 and now has $3.5 billion
under administration. It is a full service wealth management company
with a private bank and its own wholly owned subsidiary, U.S.T.
Securities.
Its competitors include PNC Advisors at 1 Palmer Square, which has
both a trust company and a private bank. Formerly known as Princeton
Bank and Trust, it has the oldest charter in the state. PNC clients
draw on the services of PNC Bank, a full-service retail bank with
multiple locations.
Another competitor, Summit Bank, also has a trust company, a private
bank, and retail locations. The private bank is headquartered at the
Abbey, a landmark mansion in Morristown, New Jersey, but it and the
trust company have an office at the corner of Nassau and Witherspoon
Streets. “Our location, right across from the main gate of
Princeton
University, is one of the trust company’s three major regional offices
in the state,” says Patty Byers, vice president and trust officer
at Summit.
The fourth in this trust company quartet, Glenmede Trust Company of
New Jersey, opened a branch in 1992. Denny Baird is president of this
sister organization to the Philadelphia-based Pew Charitable Trusts,
an internationally renowned philanthropy that derives its original
funding from the founding of Sun Oil. Glenmede bills itself as a total
wealth management company, but unlike the other trust companies
downtown
it has no provisions for making deposits or lending money.
It is located less than a block away from U.S. Trust on Chambers
Street
in a notable architectural conversion of the Chambers Street
firehouse.
Todd Lincoln, vice president of marketing, says that Glenmede knew
from the very beginning that it should be located in downtown
Princeton.
“When we moved to New Jersey we felt we needed a downtown presence
in order to build our brand awareness here in the Princeton community.
After all we are a small, quiet company, privately owned by the Pew
family. We needed to be located in a place where people could see
us and, in time, learn to know us.”
— Barbara Fox
U.S. Trust Company of New Jersey (UST), 5 VaughnDrive, Suite 201, CN 5209, Princeton 08543-5209. Harry O’Mealia,president/CEO.609-987-2300; fax, 609-734-7777. Home page: www.ustrust.com.Top Of PageTechnology Grants To Higher EducationPrinceton and Rutgers were among six New Jerseyuniversitiesto get a total of $6.5 million to bolster high-tech researchcapabilities.The grant from the Commission on Higher Education was announced onFriday, November 17 and is part of Governor Christine Whitman’s $165million “New Jersey Jobs for the New Economy” initiative.”Academic research is instrumental in creating jobs, buildingbusinesses, boosting productivity, and saving lives,” saysWhitman.In addition to the $6.5 million to be funneled directly to theuniversities,$3.5 million has been reserved for matching funds for federal researchgrants. According to the commission, New Jersey’s researchuniversitiesare not getting an equal fair share of these grants, compared tocompetitorsin other states.Independent universities such as Princeton received 20 percent ofthe available funds. Also included in the grants were the other stateinstitutions that are recognized as research, doctoral, or specializedinstitutions: University of Medicine and Dentistry of New Jersey($1,880,863),New Jersey Institute of Technology ($710,816), Seton Hall University($353,087), and Stevens Institute of Technology ($233,179)Princeton will use its $713,733 grant for instrumentation used inproteomics, a new area of genomics that focuses on cellular proteinsthat figure in the development of many diseases. In addition to usingsome funds for training graduate students, it will buy a new massspectrometer, upgrade a fluorescence-activated cell-sorter, and hiretechnicians for these instruments.With its grant of more than $2,608,000, Rutgers will focus on sevenmultidisciplinary projects including animal biotechnology,bioinformatics,physics-based simulation technology for medical imaging, and lifesciences research in biomaterials used in implants and medicaldevices,human genetics, and neuroscience. Also on molecular and cellularpharmaceuticalresearch on the absorption of drugs for combating disease, cellularand molecular biodynamics studies on aging in tissues and repairinginjuries, and the implications of using hybrid materials forinformationtechnology.”New Jersey’s research universities are a key part of the state’seconomic infrastructure,” says Whitman. “Investing in theircapacity to conduct cutting-edge research will stimulate newdiscoveriesthat can strengthen our high-tech economy and benefit people all overthe world.”Top Of PageMcKesson HBOC: Outsourcing For PharmasThe Pharmaceutical Partners Group from McKesson HBOCcombined offices from North Jersey, Florham Park, and the DailyPlan-Itto open an office at the Forrestal Center. Founded in New York,McKessonHBOC now has 30,000 employees and is based in San Francisco. It isthe largest drug wholesaler in the United States.Doing everything in-house allows McKesson to have full control, saysKnipper. McKesson is the largest customer of the pharmaceuticalcompanies,says Jim Knipper, senior vice president of marketing. “Now weare able to work with the pharmas to provide outsourced marketingservices, including logistical support and contract sales.””If a pharmaceutical company is considering an outsourcingservice,”says Knipper, “it is to our advantage that we are their largestcustomer. It provides a very interesting business relationship. Wecan help assist their marketing efforts to bring their drugs tomarket.”With 20 workers on College Road, Princeton is the home office fora division of 1,600 people. The president is Robert Glaser, an alumnusof Gettysburg College with an MBA from the Kellogg School of Businessat Northwestern. In his 23 years at Merck, he launched such majorproducts as Pepcid, Prinivil, and Fosamax. Before joining McKessonin 1998, he had also been president and COO of a small biotech firmin Seattle.This division of McKesson HBOC aims to deliver “best in class”outsourced services. Six groups including a contract salesorganizationare based here. A Maryland-based business unit handles clinical trialstudies. Some fulfillment and logistical support is provided by anoffice in East Brunswick. A site in Arizona does direct-to-consumerand direct-to-physician marketing plus telemarketing and teleservices.McKesson recently purchased, from Kelly Waldron, a small fulfillmentcenter in Hamilton and an office in Horsham, Pennsylvania, whichhandlesdatabases. The largest fulfillment center, Lakewood-based J. Knipper& Company, had been owned by Knipper and his father. It is approvedby the Food and Drug Administration and the Drug EnforcementAdministrationto handle distribution of narcotics.A native of Colts Neck, Knipper majored in chemistry at the Universityof Scranton, Class of ’81, and has an MBA in pharmaceutical sciencesfrom Fairleigh Dickinson. “Thirteen years ago as a father/sonpartnership we built our firm on the concepts of service and quality,dedicated to the pharma industry,” says Knipper, noting that hisfather is still in the business. “In the two years since McKessonbought our family firm, we’ve gone from running a privately heldcompanyto working at a Fortune 40 firm. We are operating on a much largerscale. It is exciting to make a difference to a larger audience thanwe could before.”McKesson HBOC Pharmaceutical Partners Group, 101College Road East, Suite 100, Princeton 08540. Bob Glaser, president.609-919-3900; fax, 609-919-3931. Home page: www.mckhboc.com.Top Of PageCooperate, But Don’t Squeeze the CharminRetailers fight to survive competition from big boxstores might do well to take a leaf from the playbook of thejanitorialpaper supply wholesalers. Ernie Blizard, who recently boughtPenningtonSupply Company and moved his wholesale business to Reed Road fromMoorestown, says that when he is out of stock on a particular item,he simply calls a competitor. “They buy from us, we buy from them— the key of this is cooperation,” says Blizard. “Thereis always enough business to go around.”The companies worth millions of dollars — like Penn Jersey Paper,Papercraft, Unisource and Merit-Hoffman — are competing withcompaniesworth billions, he says: “The millions have got to get togetherto beat up the billions.”The company was founded in 1907 and was bought by Blizard’s greatgrandfather. Blizard started working in the business at age 12, thenwent to Penn State, Class of 1968, and returned to Moorestown to helphis father. When his father died two years ago, Blizard bought thebuilding and moved the firm to be closer to his Yardley home. Fromthe new location — a 7,000-foot building with seven employees— Blizard serves clients in a 50-mile radius and ships out 80,000cases a year.Merit-Hoffman stocks everything from economy to luxury brands, butthere is one product that janitorial services cannot order from him,and that’s Charmin toilet tissue. Squeezable though it may be, Blizardis not a fan of Charmin. “It is made from bonded cellulose,”he claims. “It is not biodegradable, and it will clog uptoilets.”Merit-Hoffman, 1589 Reed Road, West Trenton 08628.Ernie Blizard, owner. 609-737-9911; fax, 609-737-9922.Top Of PageCrosstown MovesCapital Title Agency, 228 Alexander Street,Princeton08540. Debra C. Massimo, president. 609-924-6675; fax, 609-924-1978.By the end of November the title agency will have moved from theformerMcCarthy Schatzman building on Alexander Street to 1 Nami Lane,QuakerbridgeBusiness Park, Princeton 08540. The new phone and fax will be609-587-7545;fax, 609-587-7546.Top Of PageExpansionsAdvanced Vending Services, 45 Everett Drive,PrincetonJunction 08550. Donna Cannie, president. 609-275-5099; fax,609-275-5935.This vending machine firm has moved from 4262 Route 1 North inMonmouthJunction to Everett Drive. Phone and fax are new. It offers corporateor industry snack and drink vending, coffee services, brewers,supplies,and case delivery of drinks and snacks. Moving day was Monday,November20.Commtech Corporation, 2555 Route 130 South,Cranbury08512. Frank Fawzi, owner. 609-655-2277; fax, 609-655-2292.www.comm.com.CommTech Corp. has opened its European headquarters in the UnitedKingdom in Reading, plus regional offices in Spain, Germany, and theNetherlands. It has flow-through provisioning solutions for DSL andcable service providers under the trademark FastFlow. This multi-tierthin-client architecture offers flexibility for end-to-end ordermanagementand service activation.Top Of PageStock News: ITXC’s Highs & LowsAt a time when its stock is close to an all-time low,ITXC, the College Road-based provider of voice on the Internet, hasbeen ranked number two in North America in the Deloitte & ToucheTechnology500 Rising Star program. The list includes the continent’s 10fastest-growingtechnology companies that have been in business for three years. Itsrevenue grew 43,099 percent during this three-year period.ITXC is the leading provider of voice on the Internet and routesphone-to-phoneand PC-to-phone calls via ITXC.net(TM), the largest global networkfor Internet voice with 309 PoPs (points of presence) in 168 citiesand in 74 countries. To maintain quality, ITXC routes calls aroundInternet congestion with its patent-pending BestValue Routingtechnology.Another voice-over-the-Internet competitor, iBasis, ranked numbersix in the list and Tom Evslin, the CEO, says that demonstrates thepotential of his business model. Though only two percent of phonecalls are made over the Internet now, he predicts in 10 years, allvoice phone calls will be on the ‘Net.ITXC was recently selected as the Communications Company of the Yearby the New Jersey Technology Council. Just last week, ITXC was namedfor the Standard 100, the leading stock index tracking the InternetEconomy.ITXC reported $23.5 million of revenue for the third quarter of 2000,a 26 percent sequential increase from the second quarter of the yearand a 259 percent increase from the third quarter of 1999. Grossmarginprofit for the quarter was $1.5 million.ITXC Corp. (Internet Telephony Exchange Carrier)(ITXC),600 College Road East, Princeton 08540. Tom Evslin, CEO. 609-419-1500;fax, 609-419-1511. Home page: www.itxc.com.Top Of PageDeathsCharles A. Scullion, 65, on November 11. He was anestimatorand salesman at C&B Graphics in Pennington.Melissa A. McDonough 30, on November 15. She was a medicaltranscriptionist with Alta Services on Quakerbridge Road.Previous StoryCorrections or additions?This page is published by PrincetonInfo.com— the web site for U.S. 1 Newspaper in Princeton, New Jersey.
