Jon Corzine
From Wikipedia, the free encyclopedia
| Jon Stevens Corzine | |
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| Preceded by | Richard Codey |
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| Succeeded by | Incumbent |
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| Born | January 1, 1947 Taylorville, Illinois |
| Political party | Democratic |
| Spouse | Joanne Dougherty Corzine (divorced) |
| Profession | Financial executive |
| Religion | United Church of Christ |
Jon Stevens Corzine (born January 1, 1947) is the current Democratic Governor of the state of New Jersey. He was sworn into office on January 17, 2006, for a four-year term ending in 2010. He resides in Hoboken. He represented New Jersey in the United States Senate from 2001 until 2006, when he stepped down to take his seat as Governor.
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[edit] Early years and education
Born in central Illinois, Corzine grew up on a small family farm near Taylorville. After completing high school he attended the University of Illinois at Urbana-Champaign for his undergraduate degree, where he was a member of the Phi Delta Theta fraternity, and graduated in 1969, with Phi Beta Kappa. While in college, he enlisted in the United States Marine Corps Reserve and served until 1975, rising to the rank of sergeant. After his active duty in 1970 during the Vietnam War, he enrolled in the University of Chicago Graduate School of Business, and in 1973, he received his Master of Business Administration degree, which launched him into his business career.
[edit] Marriage and divorce
He married his high school sweetheart, Joanne Dougherty, and their 33-year marriage produced three children (Jennifer, Josh, and Jeffrey). The couple separated in 2002 and were divorced in November 2003. In November of 2005, Corzine's ex-wife told The New York Times that Corzine "let his family down, and he'll probably let New Jersey down, too." This quote was co-opted by gubernatorial opponent Doug Forrester for use in a campaign advertisement. Forrester later came under fire for using the quote because of its inherently personal nature.
[edit] Business career
His first experience in business was in the Bond Department at Continental-Illinois National Bank in Chicago. He then moved to Bank One, a regional bank in Columbus, Ohio. He worked there until 1975 when he moved his family to New Jersey. There he was hired as a bond trader for Goldman Sachs. Over the years, he worked his way up to Chairman and CEO of the company in 1994 and successfully converted the investment firm from a private partnership to a worldwide publicly traded corporation. He received numerous awards and recognition for his job including being in the TIME magazine Top 50 Technology Executives in 1997.
[edit] Entry into politics
After being forced from Goldman Sachs in January 1999, Corzine campaigned for one of New Jersey's Senate seats after Frank Lautenberg announced his retirement. Corzine was elected to the Senate by a 4% margin over his Republican opponent Bob Franks in the November 2000 election and was sworn into the Senate in January 2001. He spent $62,802,999 on his campaign, the most expensive Senate campaign in US history - over $35 million of this was spent on the primary election alone, where he ran against former Governor James Florio.
[edit] Senate career
In the Senate, Corzine was a member of the Committees on Banking, Intelligence, the Budget, and Energy and Natural Resources. He co-authored the Sarbanes-Oxley Act, a piece of legislation designed to crack down on corporate malfeasance. He was a supporter of introducing legislation that reforms the 401(k) plan to minimize the risk of investment portfolios. He was a sponsor of the Start Healthy, Stay Healthy Act which expands health care coverage for children and pregnant women. Corzine supported providing a two-year tax break to victims of the September 11, 2001 terrorist attacks to help them recover financially and help grant citizenship to victims that were legal resident aliens. He supported tighter gun control laws, outlawing racial profiling, and subsidies for Amtrak. He was also the chief sponsor, along with U.S. Senator Sam Brownback, of the Darfur Accountability Act, which would apply sanctions on the Sudanese government and create a framework for addressing the genocide occurring in the Darfur region. He was also one of 23 Senators to vote against the Iraq War Resolution.
Since May 2005 he has been a contributing blogger at The Huffington Post.
[edit] Campaign for governorship
Corzine won his campaign for the post of Governor of New Jersey with 54% of the vote. Republican nominee Doug Forrester, a businessman and a former Mayor of West Windsor Township, in Mercer County, won 43%. Corzine received 1,224,493 votes to Forrester's 985,235. A total of 80,277 votes, or 3%, were scattered among other candidates.
Corzine won 13 of New Jersey's 21 Counties: Atlantic, Bergen, Burlington, Camden, Cumberland, Essex, Gloucester, Hudson, Mercer, Middlesex, Passaic, Salem, and Union. Corzine won the three most populous Counties (Bergen, Essex, and Middlesex), five of the top six, and seven of the top nine. As Governor, he is a member of the National Governors Association and the Democratic Governors Association.
[edit] Governor
[edit] Acts
One of Corzine's earliest acts as governor was to propose a budget that increases both state spending and taxes. Corzine plans to reduce the deficit, by having the new tax revenue exceed the new spending. Corzine has increased the state sales tax (from 6% to 7%), will remove sale tax exemptions in October and has increased the cigarette tax to $2.75 per pack, but not the highest in the nation altogether, as New York City levies a $1.50/pack tax in addition to New York State's $1.50. Corzine also imposed a statewide smoking ban on bars and restaurants similar to that of New York's in April 2006. Corzine's budget also proposes to cut state financing to higher education by $169 million, leading students of New Jersey state universities to expect future tuition hikes. Rutgers University president Richard L. McCormick has stated that "the proposed cuts could leave the University with $100 million less than what it requires to operate." McCormick also specified that "if the University were to compensate for the funding cuts solely by raising tuition, the tuition would increase by 31 percent"[1][2]. Other proposed cuts have been to the Governor's School of New Jersey, which provided unique learning opportunities for select high school students each summer. The program has, however, been revived through private contributions, excluding such programs as visual arts. Not all of the Governor's School cuts were in effect for the summer of 2006.
[edit] Shutdown of State Government
Corzine, in attempting to pass the 2007 fiscal year budget, came into conflict with fellow state Democrats in the New Jersey General Assembly, particularly over the proposed increase of the state's sales tax from 6% to 7%. Corzine stated that he would not accept a budget that does not include the sales tax increase.[1] After the legislature failed to pass Governor Corzine's budget by the midnight deadline of July 1, 2006, he signed an executive order[3] that immediately closed down all non-essential state government services, such as road construction projects. Legislators failed to resolve the situation by July 4 and casinos, among other governmentally-regulated industries, closed their doors at 8:00 am on July 5[4]. Governor Corzine called the shutdown "deplorable," though he refused to negotiate with legislators and accept alternate plans that did not increase the sales tax. It is estimated that the state lost several millions of dollars of revenue every day the casinos remained closed. Some surmised the casino closure was an effort to cause obstinate South Jersey legislators to break the impasse.[2].
After six days of the New Jersey state government being shut down Corzine and Assembly Democrats reached an agreement on the state budget. The compromise raised the state sales tax from 6% to 7% with half of the 1% increase going to the state budget and the other half going to property tax relief. On July 8, 2006, the $30 billion dollar state budget, with the sales tax agreement, passed both houses and Governor Corzine signed the budget into law ending the budget impasse[5][6].
[edit] Appointments
[edit] U.S. Senate replacement
Once sworn in as Governor, Corzine was required to appoint someone to fill his vacated seat in the U.S. Senate. There was some discussion of whether this appointment would be merely a caretaker, who would commit not to stand for election to the seat in November 2006. Initial speculation was that he would appoint a Democrat from one of the congressional districts in New Jersey, such as Congressmen Rob Andrews, Rush Holt, or Frank Pallone. Governor Richard Codey had also been touted, though on November 23, 2005, he announced that he was not interested in pursuing the seat. On December 9, 2005, Corzine named U.S. Rep. Bob Menendez, a Democrat, to succeed him[7].
[edit] UMDNJ Board
On February 9, 2006, after many scandals regarding financial mishandling had emerged at the University of Medicine and Dentistry of New Jersey, Corzine nominated Robert Del Tufo, the former Attorney General of New Jersey and U.S. Attorney, as chairman of the board of trustees. Corzine also nominated Oliver Quinn, Prudential Financial's vice president and chief ethics officer, as vice chairman of the board. [3]
[edit] Polling data and approval
Since taking office in January of 2006, Corzine's approval numbers have seemed relatively low for a new governor. Many polls have seemed to indicate that much of this negative polling was a direct result of the 2006 New Jersey State Government shutdown. An April 26, 2006, poll from Quinnipiac University Polling Institute showed Corzine at a 35% approval with a 42% disapproval[8]. This same survey also found that Democrats approve of Governor Corzine 53 – 22 percent, while Republicans approve 21 – 60 percent and independent voters approve 32 – 46 percent.
[edit] State Cabinet
- Bradley Abelow, State Treasurer
- Virginia Bauer, Secretary of Commerce, Economic Growth and Tourism
- Donald Bryan, Acting Commissioner of Banking and Insurance (until February 2006)
- Ronald Chen, Public Advocate
- Lucille Davy, Acting Commissioner of Education
- Stuart Rabner, Attorney General
- Jeanne Fox, President of the Board of Public Utilities
- Col. Joseph Fuentes, Superintendent of the New Jersey State Police
- Steven M. Goldman, Commissioner of Banking and Insurance (from February 2006)
- George Hayman, Acting Commissioner of Corrections
- Lisa P. Jackson, Commissioner of Environmental Protection
- Dr. Fred Jacobs, Commissioner of Health and Senior Services
- Kris Kolluri, Commissioner of Transportation (from February 2006)
- Charles Kuperus, Secretary of Agriculture
- John Lettiere, Commissioner of Transportation (until February 2006)
- Susan Bass Levin, Commissioner of Community Affairs
- Ken Zimmerman, Chief Counsel to the Governor
- Major General Glenn K. Rieth, Adjutant General
- Gary Rose, Director of the Office of Economic Growth
- Rick R. Rosenberg Jr., Secretary of Education
- Kevin Ryan, Commissioner of Human Services
- Thomas Shea, Chief of Staff to the Governor
- David Socolow, Acting Commissioner of Labor and Workforce Development
- Rolando Torres, Commissioner of Personnel
- Nina Mitchell Wells, Secretary of State.
[edit] Trivia
- Corzine is the only governor in the United States who has a beard and was the only U.S. senator with a beard.
- Corzine shares a birthday with New Jersey junior Senator Robert Menendez, the man he chose to serve out the remainder of his term.
- Corzine accepts a token salary of $1 per year as Governor of New Jersey[9], although he later chose to forego pay. State law allows for a maximum salary of $175,000[10].
[edit] Electoral history
- 2005 Race for Governor
- Jon Corzine (D), 54%
- Doug Forrester (R), 43%
- 2000 Race for U.S. Senate
- Jon Corzine (D), 50%
- Bob Franks (R), 47%
- 2000 Race for U.S. Senate (Democratic Primary)
- Jon Corzine (D), 58%
- Jim Florio (D), 42%
[edit] See also
[edit] References
- ^ Students fear tuition hike, The Daily Targum, May 1, 2006
- ^ Possible tuition increase protested, The Daily Targum, April 28, 2006
- ^ Governor Corzine Signs Executive Order for Orderly Shutdown of Government Operations, press release dated July 1, 2006
- ^ Atlantic City casinos forced to close: Budget standoff in N.J. halts gambling; parks and beaches affected, MarketWatch, July 5, 2006
- ^ Corzine, Lawmakers Agree to End Budget Impasse, Raise Sales Tax, Bloomberg L.P., July 6, 2006
- ^ Governor Signs $30B New Jersey Budget, Forbes.com, July 8, 2006
- ^ Sources: Menendez tapped for U.S. Senate seat, CNN.com, December 7, 2005
- ^ NJ Budget Problems End Corzine's Honeymoon, Quinnipiac University New Jersey Poll Finds; Raise State Taxes, Not Local Taxes, Voters Say 3 - 1, press release dated April 26, 2006
- ^ The Goldman Sachs Crew That’s Helping Run Trenton Government, The New York Times, October 4, 2006
- ^ frequently asked questions (faqs) - Governor, accessed October 5, 2006
[edit] Sources
- "Democrats score big". (Nov. 10, 2005). New Straits Times, p. 29.
- Newmarker, Chris (Nov. 5, 2005). "N.J. Governor's Race Hits New Lows". Associated Press.
- "Corzine for a Bruising" May 10, 2006 The Brian Lehrer Show
[edit] External links
- New Jersey Office of the Governor
- Corzine easily defeats Forrester
- Official 2005 Gubernatorial Campaign Site
| Preceded by Stephen Friedman |
Chairman and CEO, Goldman Sachs 1994 - 1998 |
Succeeded by Henry Paulson |
| Political offices | ||
|---|---|---|
| Preceded by Frank Lautenberg |
U.S. Senator (Class 1) from New Jersey 2001 - 2006 |
Succeeded by Robert Menendez |
| Preceded by Richard Codey |
Governor of New Jersey 2006 – present |
Incumbent |
| Governors of New Jersey |  |
|---|---|
| Livingston • Paterson • Howell • Bloomfield • Ogden • W.S. Pennington • M. Dickerson • Williamson • Vroom • Southard • Seeley • P. Dickerson • W. Pennington • Haines • Stratton • Fort • Price • Newell • Olden • Parker • Ward • Randolph • Bedle • McClellan • Ludlow • Abbett • Green • Werts • Griggs • Voorhees • Murphy • Stokes • Fort • Wilson • Fielder • Edge • Edwards • Silzer • Moore • Larson • Hoffman • Edison • Driscoll • Meyner • Hughes • Cahill • Byrne • Kean • Florio • Whitman • DiFrancesco • McGreevey • Codey • Corzine |
| Persondata | |
|---|---|
| NAME | Corzine, Jon Stevens |
| ALTERNATIVE NAMES | |
| SHORT DESCRIPTION | New Jersey politician |
| DATE OF BIRTH | January 1, 1947 |
| PLACE OF BIRTH | Taylorville, Illinois |
| DATE OF DEATH | living |
| PLACE OF DEATH | |
Categories: Governors of New Jersey | United States Senators from New Jersey | American chief executives | United States Marines | University of Illinois at Urbana-Champaign alumni | University of Chicago alumni | People from Illinois | Phi Beta Kappa members | Phi Delta Theta brothers | 1947 births | Living people | American Veteran Politicians(Democrat)
