On the list this week: Merck, online gaming, Toys 'R' Us and more.
Each week in Facetime, NJBIZ editors approximate Chris Christie's mood and facial expressions based on the news.
FACETIME: Shocked (with sarcasm)
So let's try to understand this: The latest report attacking the Christie administration shows his office favored mayors who were friendly to him and his policies. And that would make him different from every other elected official in the history of time how? Politicians do business with those who agree with them. Doesn't everyone?
Merck was one of four drugmakers that recently showed that a new generation of hepatitis C drugs can bring cure rates that approach 100 percent. The drugs' exorbitant cost has raised eyebrows, but a potential cure may be worth every penny.
OK, so it's not producing at the rates some had predicted — but it's growing, with 18 percent more participants in March than February. That's more than enough to prove it's a gamble worth taking, even if it's not helping Atlantic City's traditional casinos.
A new Congressional Budget Office study shows that raising taxes on the rich has not hurt the economy. Of course, it doesn't appear to have helped much either. Jobs, not taxes, are the answer.
Toys 'R' Us
Tough times for the Wayne-based toy company. There were the massive layoffs last week. But that appears to have done little to quell investors' fears as they now see a debt that has climbed to eight times the company's cash flow. Moody's cut its credit rating to six levels below investment grade.
So a report shows that Hoboken wasn't denied aid due to political payback but rather the failure to properly fill out forms requesting aid. Here's an idea: Let's get government agencies to work together to get forms filled out correctly — and get relief money where it's needed. This isn't petty politics, just pathetic politics.
At least five people associated with the GW Bridge scandal get to have legal support paid for by New Jersey taxpayers. Raise your hand if you think that makes sense.
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