Issue of July 10, 2007
Environmental firm forms ESOP
Joseph R. Fallon, president of Environmental Liability Management, Inc. in Princeton, announced that his company has formed an Employee Stock Ownership Plan (ESOP]. The first block of stock was sold to the ESOP on June 22, 2007.
ELM is an environmental engineering and consulting firm that specializes in conducting environmental due diligence, site investigations and remediation, along with Brownfields redevelopment, and risk and project management services for complex environmental issues associated with hazardous substance discharge investigations and remediation.
ELM also provides permitting and compliance/monitoring services for ongoing industrial and commercial operations. ELM has 50 employees and is headquartered in Montgomery with offices in Boonton, along with Pennsylvania offices in Holicong and the Lehigh Valley. ELM also has a wholly owned subsidiary, Environmental Liability Management of New York, L.L.C., for similar operations in the New York market.
Tyco spins off two businesses
Tyco International Ltd., with U.S. headquarters in West Windsor has spun-off its healthcare and electronics businesses through a tax-free dividend distribution to Tyco shareholders. "We are very pleased to reach this important milestone in the separation of Tyco International into three independent, publicly traded companies," stated Tyco Chairman and Chief Executive Officer Edward Breen in a release.
In connection with the dividend distribution, each Tyco shareholder received one common share of Covidien Ltd. and one common share of Tyco Electronics for every four common shares of Tyco International held.
Real estate women mark 25 years
Industrial Commercial Real Estate Women of New Jersey (ICREW) marks 25 years in 2007. In 1982, founding president, Roberta Hyman and three other women realized they were in a predominantly male industry. The women established a formal group that would provide support and mentorship. The group brought together women involved in the many aspects of commercial real estate; to exchange information, develop business contacts, and to help each other succeed professionally.
Princeton chamber marketing event
The Princeton Regional Chamber of Commerce and event sponsor, The Bank of Princeton will host the inaugural Mid-Summer Marketing Madness networking event and business showcase on Tuesday, July 24 from 5 to 8 p.m. at Palmer Square Green in Princeton. The rain date for the event is Thursday, July 26. The event is open and free to the public and is held in partnership with Palmer Square Management. Food samples from local establishments will be available.
Area insurance agency relocates
Petrone Associates, Inc., an area insurance and financial services firm since 1970, announced its expansion and relocation to new offices in College Park at Princeton Forrestal Center in Plainsboro.
Petrone Associates’ practice areas include insurance, investments, retirement planning, and employee benefits as a general agency for Guardian Life Ins. Co. of America. The company also announced the launch of a web-based financial organization tool, the Living Balance Sheet. Developed by Guardian, the Living Balance Sheet allows clients to consolidate their financial information, monitor their assets, and store copies of important documents in a secure, password protected, encrypted personal website.
Health care honors issued
The New Jersey Health Care Quality Institute (NJHCQI) issued honors for "efforts to advocate for the reduction of medical errors and the improvement of overall health care quality" in the state. The honors were issued at the NJHCQI annual meeting at the Chauncey Conference Center in Lawrence. The Institute also bestowed an "Honorary Leadership Council Membership" on founding member James C. Morford. "In the past decade, New Jersey has taken a huge step forward to advance patient safety and quality health care, thanks in no small measure to our honorees," stated NJHCQI President and Chief Executive Officer David L. Knowlton in a release.
Those honored were: New Jersey Department of Health and Senior Services Commissioner Fred Jacobs; state Senator Joseph Vitale, chairman of the New Jersey Senate Health, Human Services and Senior Citizens Committee; and Horizon Blue Cross Blue Shield NJ.
Venture fund makes investment
Edison Venture Fund in Lawrence announced an investment in Blue Cod Technologies, based in Marlborough, Mass. Edison is the sole institutional investor.
The proceeds will be used to expand Blue Cod operations, development, marketing and sales. Blue Cod Technologies delivers outsourcing, software solutions, and consulting services to the property and casualty insurance industry.
Financial firm moves to Ewing
Opus East, L.L.C. announced a lease agreement with Valuation Research Corporation for the first office building of the PrincetonSouth Corporate Center, located in Ewing Township.
VRC will lease 8,520 square feet of office space on the second floor of the office building. VRC, an international financial advisory firm, relocated to PrincetonSouth Corporate Center from its current office on Route 1.

