Audit: NJ Turnpike Wasted Millions On Perks

[JoshLowry]

Auditors say the New Jersey Turnpike Authority wasted $43 million on unneeded perks and bonuses. In one case, an employee with a base salary of $73,469 earned $321,985 when all payouts and bonuses were included.

http://www.myfoxny.com/dpp/traffic/t...s-20101019-apx

More great news!

[Chieppa1]

I'll be shocked when there is a story about NJ NOT wasting money or corruption.

[oyarde]

I saw this on the news. Birthday bonus , bowling league ....

[ClayTrainor]

But...but...but... who will build the roads, if we privatize them???

[oyarde]

There should be mass firings of Supervisors for this .

[Chieppa1]

All you need to know about New jersey: http://www.northjersey.com/arts_ente...orruption.html

[Austrian Econ Disciple]

This is nothing new. $#@!'s been happening since the 1800s. At least back then people had sense to outlaw "public works" in their Constitutions (OMG WHO BUILT THE ROADS!). Corruption is the natural outcome of Government. Why are people surprised?

[HOLLYWOOD]

Oh So Funny State Design entities: Public Benefit Corporation aka Fascism

Fasist/Corporatist = Public/Private Cronism

http://www.tollroadsnews.com/node/3396

Maybe Article IV, Section 7, paragraph 9 of the New Jersey Constitution was written around that time?

It is less clear that there is any bar to legislative grant of an exclusive franchise to a government created body. After all the New Jersey Turnpike Authority (NJTA) at present has an exclusive franchise to conduct toll business on the Turnpike and Garden State Parkway. The Turnpike Authority was created around 1950 as precisely the same kind of public benefit corporation that Gov Corzine proposes for his Public Benefit Corporation (PBC).

The NJTA while created by the state and with a board of directors appointed by the governor was initially touted as being independent of the state - "at arms length." Its debt was not debt of the state, it always said when borrowing, and was secured only by toll revenues. It was what Tom Kean would call "private" too. Or as "private" as the PBC.

There's a strong argument that all simple grants of privilege and franchises whether to private, public or quasi-public bodies should be barred - that all such 'franchises' should all be handled with open competitive bidding. That's exactly what Governor Rendell is doing with the Pennsylvania Turnpike. The present Turnpike Commission responded to the initial requests for expressions of interest along with private bidders.

OUR OPINION: Open competitive bidding and some contractual limits on corporation power are needed regardless of the makeup of the corporation getting those privileges. All people with power are liable to misuse it if there are no limits, regardless of whether they have shareholders or are called 'public benefit.' Naming something 'not-for-profit' doesn't make it so. It doesn't magically turn the staff into a collection of selfless mother theresas. If they aren't allowed to declare a profit as such, they'll just take the profit under an accounting category called 'Expenses.'

TOLLROADSnews 2008-02-13