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New Jersey Chamber Insider
Business News, Advice and Trends
The average long-term U.S. mortgage rate is now down to its lowest level in more than three years. The benchmark 30-year fixed rate mortgage rate eased to 6.06% this week, down from 6.16% last week, mortgage buyer Freddie Mac said Thursday. One year ago, the rate averaged 7.04%. The last time the average rate was lower was Sept. 15, 2022, when it was at 6.02%. (The Associated Press)
President Trump Thursday announced the outlines of a health care plan he wants Congress to take up as Republicans face pressure to address rising health costs after lawmakers let subsidies expire. The cornerstone is his proposal to send money directly to Americans for health savings accounts so they can handle insurance and health costs as they see fit. Democrats have rejected the idea as a paltry substitute for the tax credits that had helped lower monthly premiums for many people. (The Associated Press)
Susan Ochs, a financial services and economic policy expert who worked in the Clinton and Obama administrations, is Governor-elect Mikie Sherrill’s choice to serve as Commissioner of Banking and Insurance. Ochs served as the director of legislative affairs at the SEC from 1997 to 1999, as a senior economic and business policy advisor to Govs. Jim McGreevey and Richar Codey, and as a senior advisor at the U.S. Treasury’s Office of Financial Stability. She is a frequent CNBC analyst and is the founder of The Better Banking Project, which sought to improve financial industry culture. (New Jersey Globe)
Governor-elect Sherrill is bringing in a public health professional from North Carolina to serve as New Jersey health commissioner. Raynard Washington, currently the director of the health department in Mecklenburg County, North Carolina, is Sherrill's choice to replace Acting Commissioner Jeffrey Brown. Before relocating to Charlotte in 2020, he served as chief epidemiologist and deputy commissioner of the Philadelphia Health Department. He has also worked at the U.S. Department of Health and Human Services. (New Jersey Globe)
See the N.J. Chamber's roundup of business-related legislation advancing in Trenton, and where our government relations department stands on them. (N.J. Chamber of Commerce)
The ReNew Jersey Business Summit & Expo returns to Harrah’s Atlantic City on March 31 & April 1. The two-day Summit – attended by over 1,000 in 2024 – will feature keynote speakers, timely panel discussions on N.J.’s economic competitiveness, unmatched networking opportunities, and 100 exhibitors showcasing their products and services. The 2026 Summit is especially significant, coming just weeks after N.J. welcomes a new gubernatorial administration. More info and register here. (N.J. Chamber of Commerce)
Connell Foley LLP said Wednesday that Patrick C. Dunican Jr. has joined the firm as a partner in its corporate practice group. He will focus on law firm consulting, expert opinion, risk management and higher education governance, while also supporting the firm’s business development. Dunican previously served as managing director and executive chairperson at Gibbons P.C. for 18 years, where he guided the firm’s strategic vision, operational leadership and long-term growth. (ROI-NJ)
In a tribute to nearly three decades of dedication to professional soccer, Major League Soccer recognized John Gallucci Jr., president & CEO of JAG Physical Therapy, for his 27 years of distinguished service as the league’s associate chief medical officer. The honor was punctuated by the announcement of the John Gallucci Leadership Award, a newly established scholarship designed to bridge the gap between rising athletic training talent and the world’s leading sports medicine experts. (BINJE)
Philanthropist Helena Theurer made a record-breaking $10 million donation to the Hackensack Meridian Health Foundation to fund scholarships to the Hackensack Meridian School of Medicine. The largest gift in the school’s history establishes the Helena Theurer Endowed Student Scholarship, which will create four annual $100,000 scholarships that will help to cover full tuition and living expenses. (BINJE)
Bristol Myers Squibb appointed Harald Hampel to serve as its senior vice president and worldwide head of medical affairs, neuroscience. A globally recognized leader in brain health, Hampel is known for advancing the understanding and study of Alzheimer’s disease and other neurodegenerative and neuropsychiatric disorders. In his new role, he will set and execute BMS’ global medical strategy for neuroscience and serve as its senior medical leader and external scientific voice in the field. (ROI-NJ)
RWJBarnabas Health and Rutgers Cancer Institute have appointed Dr. Kathie-Ann Joseph to serve as chief of breast surgery and co-director of the multidisciplinary breast program at Rutgers Cancer Institute and the Jack & Sheryl Morris Cancer Center. Joseph will co-lead a team of breast cancer oncologists and oversee all operational and programmatic aspects of breast surgical oncology. She also holds an appointment as professor in the department of surgery at Rutgers Robert Wood Johnson Medical School. (ROI-NJ)
Rowan University will serve as the academic and research partner of the Transformation Center. It's the African American Chamber of Commerce of New Jersey’s 26,800-square-foot business incubator coming to Trenton’s business district. The center will offer technical assistance, mentorship, workforce development, and outreach to minority- and women-owned businesses statewide. The New Jersey Economic Development Authority has committed $1.5 million to Rowan for planning and implementation. (NJBIZ)
Cornerstone NJ is a membership program of the New Jersey Chamber of Commerce.
Harrah's Atlantic City
Bedens Brook Club, Skillman
More information coming soon
New Jersey State Museum, Trenton
More information coming soon
Were you forwarded this newsletter? For more information about the N.J. Chamber, email Patrick.Daily@njchamber.com.
Business Resources
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