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."
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Trust 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
Drive, Suite 201, CN 5209, Princeton 08543-5209. Harry O’Mealia,
president/CEO.
609-987-2300; fax, 609-734-7777. Home page: www.ustrust.com.
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Technology Grants To Higher Education
Princeton and Rutgers were among six New Jersey
universities
to get a total of $6.5 million to bolster high-tech research
capabilities.
The grant from the Commission on Higher Education was announced on
Friday, November 17 and is part of Governor Christine Whitman’s $165
million "New Jersey Jobs for the New Economy" initiative.
"Academic research is instrumental in creating jobs, building
businesses, boosting productivity, and saving lives," says
Whitman.
In addition to the $6.5 million to be funneled directly to the
universities,
$3.5 million has been reserved for matching funds for federal research
grants. According to the commission, New Jersey’s research
universities
are not getting an equal fair share of these grants, compared to
competitors
in other states.
Independent universities such as Princeton received 20 percent of
the available funds. Also included in the grants were the other state
institutions that are recognized as research, doctoral, or specialized
institutions: 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 in
proteomics, a new area of genomics that focuses on cellular proteins
that figure in the development of many diseases. In addition to using
some funds for training graduate students, it will buy a new mass
spectrometer, upgrade a fluorescence-activated cell-sorter, and hire
technicians for these instruments.
With its grant of more than $2,608,000, Rutgers will focus on seven
multidisciplinary projects including animal biotechnology,
bioinformatics,
physics-based simulation technology for medical imaging, and life
sciences research in biomaterials used in implants and medical
devices,
human genetics, and neuroscience. Also on molecular and cellular
pharmaceutical
research on the absorption of drugs for combating disease, cellular
and molecular biodynamics studies on aging in tissues and repairing
injuries, and the implications of using hybrid materials for
information
technology.
"New Jersey’s research universities are a key part of the state’s
economic infrastructure," says Whitman. "Investing in their
capacity to conduct cutting-edge research will stimulate new
discoveries
that can strengthen our high-tech economy and benefit people all over
the world."
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McKesson HBOC: Outsourcing For Pharmas
The Pharmaceutical Partners Group from McKesson HBOC
combined offices from North Jersey, Florham Park, and the Daily
Plan-It
to open an office at the Forrestal Center. Founded in New York,
McKesson
HBOC now has 30,000 employees and is based in San Francisco. It is
the largest drug wholesaler in the United States.
Doing everything in-house allows McKesson to have full control, says
Knipper. McKesson is the largest customer of the pharmaceutical
companies,
says Jim Knipper, senior vice president of marketing. "Now we
are able to work with the pharmas to provide outsourced marketing
services, including logistical support and contract sales."
"If a pharmaceutical company is considering an outsourcing
service,"
says Knipper, "it is to our advantage that we are their largest
customer. It provides a very interesting business relationship. We
can help assist their marketing efforts to bring their drugs to
market."
With 20 workers on College Road, Princeton is the home office for
a division of 1,600 people. The president is Robert Glaser, an alumnus
of Gettysburg College with an MBA from the Kellogg School of Business
at Northwestern. In his 23 years at Merck, he launched such major
products as Pepcid, Prinivil, and Fosamax. Before joining McKesson
in 1998, he had also been president and COO of a small biotech firm
in Seattle.
This division of McKesson HBOC aims to deliver "best in class"
outsourced services. Six groups including a contract sales
organization
are based here. A Maryland-based business unit handles clinical trial
studies. Some fulfillment and logistical support is provided by an
office in East Brunswick. A site in Arizona does direct-to-consumer
and direct-to-physician marketing plus telemarketing and teleservices.
McKesson recently purchased, from Kelly Waldron, a small fulfillment
center in Hamilton and an office in Horsham, Pennsylvania, which
handles
databases. The largest fulfillment center, Lakewood-based J. Knipper
& Company, had been owned by Knipper and his father. It is approved
by the Food and Drug Administration and the Drug Enforcement
Administration
to handle distribution of narcotics.
A native of Colts Neck, Knipper majored in chemistry at the University
of Scranton, Class of ’81, and has an MBA in pharmaceutical sciences
from Fairleigh Dickinson. "Thirteen years ago as a father/son
partnership we built our firm on the concepts of service and quality,
dedicated to the pharma industry," says Knipper, noting that his
father is still in the business. "In the two years since McKesson
bought our family firm, we’ve gone from running a privately held
company
to working at a Fortune 40 firm. We are operating on a much larger
scale. It is exciting to make a difference to a larger audience than
we could before."
College Road East, Suite 100, Princeton 08540. Bob Glaser, president.
609-919-3900; fax, 609-919-3931. Home page: www.mckhboc.com.
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Cooperate, But Don’t Squeeze the Charmin
Retailers fight to survive competition from big box
stores might do well to take a leaf from the playbook of the
janitorial
paper supply wholesalers. Ernie Blizard, who recently bought
Pennington
Supply Company and moved his wholesale business to Reed Road from
Moorestown, 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. "There
is always enough business to go around."
The companies worth millions of dollars — like Penn Jersey Paper,
Papercraft, Unisource and Merit-Hoffman — are competing with
companies
worth billions, he says: "The millions have got to get together
to beat up the billions."
The company was founded in 1907 and was bought by Blizard’s great
grandfather. Blizard started working in the business at age 12, then
went to Penn State, Class of 1968, and returned to Moorestown to help
his father. When his father died two years ago, Blizard bought the
building and moved the firm to be closer to his Yardley home. From
the new location — a 7,000-foot building with seven employees
— Blizard serves clients in a 50-mile radius and ships out 80,000
cases a year.
Merit-Hoffman stocks everything from economy to luxury brands, but
there is one product that janitorial services cannot order from him,
and that’s Charmin toilet tissue. Squeezable though it may be, Blizard
is not a fan of Charmin. "It is made from bonded cellulose,"
he claims. "It is not biodegradable, and it will clog up
toilets."
Ernie Blizard, owner. 609-737-9911; fax, 609-737-9922.
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Crosstown Moves
Princeton
08540. Debra C. Massimo, president. 609-924-6675; fax, 609-924-1978.
By the end of November the title agency will have moved from the
former
McCarthy Schatzman building on Alexander Street to 1 Nami Lane,
Quakerbridge
Business Park, Princeton 08540. The new phone and fax will be
609-587-7545;
fax, 609-587-7546.
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Expansions
Princeton
Junction 08550. Donna Cannie, president. 609-275-5099; fax,
609-275-5935.
This vending machine firm has moved from 4262 Route 1 North in
Monmouth
Junction to Everett Drive. Phone and fax are new. It offers corporate
or industry snack and drink vending, coffee services, brewers,
supplies,
and case delivery of drinks and snacks. Moving day was Monday,
November
20.
Cranbury
08512. Frank Fawzi, owner. 609-655-2277; fax, 609-655-2292.
CommTech Corp. has opened its European headquarters in the United
Kingdom in Reading, plus regional offices in Spain, Germany, and the
Netherlands. It has flow-through provisioning solutions for DSL and
cable service providers under the trademark FastFlow. This multi-tier
thin-client architecture offers flexibility for end-to-end order
management
and service activation.
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Stock News: ITXC’s Highs & Lows
At a time when its stock is close to an all-time low,
ITXC, the College Road-based provider of voice on the Internet, has
been ranked number two in North America in the Deloitte & Touche
Technology
500 Rising Star program. The list includes the continent’s 10
fastest-growing
technology companies that have been in business for three years. Its
revenue grew 43,099 percent during this three-year period.
ITXC is the leading provider of voice on the Internet and routes
phone-to-phone
and PC-to-phone calls via ITXC.net(TM), the largest global network
for Internet voice with 309 PoPs (points of presence) in 168 cities
and in 74 countries. To maintain quality, ITXC routes calls around
Internet congestion with its patent-pending BestValue Routing
technology.
Another voice-over-the-Internet competitor, iBasis, ranked number
six in the list and Tom Evslin, the CEO, says that demonstrates the
potential of his business model. Though only two percent of phone
calls are made over the Internet now, he predicts in 10 years, all
voice phone calls will be on the ‘Net.
ITXC was recently selected as the Communications Company of the Year
by the New Jersey Technology Council. Just last week, ITXC was named
for the Standard 100, the leading stock index tracking the Internet
Economy.
ITXC reported $23.5 million of revenue for the third quarter of 2000,
a 26 percent sequential increase from the second quarter of the year
and a 259 percent increase from the third quarter of 1999. Gross
margin
profit for the quarter was $1.5 million.
(ITXC),
600 College Road East, Princeton 08540. Tom Evslin, CEO. 609-419-1500;
fax, 609-419-1511. Home page: www.itxc.com.
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Deaths
estimator
and salesman at C&B Graphics in Pennington.
transcriptionist with Alta Services on Quakerbridge Road.
Corrections or additions?
This page is published by PrincetonInfo.com
— the web site for U.S. 1 Newspaper in Princeton, New Jersey.
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