Bill Spadea, Sen. Beck and what's really going on?

Townsquare Media is the corporate entity that owns the license (Townsquare Media Trenton License, LLC) to operate radio station NJ 101.5 (FCC Facility 53458).  The license is a for-profit monopoly granted by the Federal Communications Commission. 

Townsquare Media is owned by Oaktree Capital Management.  This corporation dates from the mid-1990's.  Media sources note:  "Oaktree quickly established a reputation in the high-yield and distressed-debt markets."  The Securities & Exchange Commission fined Oaktree and ordered them to disgorge profits after the SEC ruled they had "sold securities short".

According to Oaktree Capital Management's filings with the Securities & Exchange Commission, it has important holdings in the petroleum sector, with one of its most important funds dependent on oil and gas profits from Alaska's North Slope.  So yes, boys and girls, raising the price of gasoline is not in their economic self-interest.

The federal government grants for-profit corporations a monopoly on the use of a certain frequency provided that they abide by a very few rules and regulations.  One is that they should at least try to be honest.  The FCC website states:

"As public trustees, broadcasters may not intentionally distort the news. The FCC has stated publicly that 'rigging or slanting the news is a most heinous act against the public interest'."

What this means is that a radio station shouldn't out and out lie just to inflame public opinion in an effort to jazz up the ratings in order to sell more advertising and reap a windfall in corporate profits.  But this is exactly what the corporation that owns NJ 101.5 has allowed Bill Spadea to do for months and allowed him to do again today.

Townsquare Media/Spadea has continued to use a report from the Reason Foundation that other journalists have investigated and called into question to make the case that road construction costs are "12 times the national average."  They have continued to broadcast and publish this very dubious figure, knowing that for months a much more detailed and full study has been available to them and that they would have been doing their listeners (and readers) an educational service by citing the several conflicting studies that now exist on this subject. 

The most detailed study made on the cost of road construction and maintenance in New Jersey was made by Rutgers University's Voorhees Transportation Center.  Information on the study, as well as the study itself, can be accessed below:

http://bloustein.rutgers.edu/new-study-by-voorhees-transportation-center-estimates-cost-to-build-and-maintain-njdot-roads/

http://www.state.nj.us/transportation/publicat/2016studyconopmaint.pdf

Bill Spadea should pull himself away from selling vinyl siding, used cars, and suppositories longenough to hold a rational discussion regarding the comparative strengths and weaknesses of each study.  While not trying to disparage the work of the author of the Reason Foundation study, who is known to us, his is a very different kind of effort to the one undertaken by Rutgers.  The Reason Foundations does a cursory thumb-nail review, taking as much space to review 50 states as Rutgers does to review one.  Rutgers is, by far, the more thorough effort.

* * *

Last week, the SaveJersey blog featured a story by NJ 101.5's Bill Spadea, who has been trying to justify his position against funding the TTF.  Aside from the ratings boost he's received, he is having an understandably tough time wrapping his intellect around the indefensible position that a user's tax is poor economic policy.

Spadea keeps looking for a way show that roads and bridges can be maintained and repaired in 2016 -- at the 1988 price-per-gallon of 14 1/2 cents.  So he's come up with a list of things to cut and he published the list on SaveJersey.

The trouble is, Spadea's newest heroine, Senator Jennifer Beck, has blown a hole in his argument.  Not only did Beck vote last month for over $100 million of the cuts Spadea wants to make this month, Beck's record shows that she supports NO spending cuts in any area of government and, IN FACT, supports increased spending.   All you need to do is visit Project Vote Smart and look at the answers Senator Beck was kind enough to provide us, herself.

So much for Bill Spadea's plan to fund the TTF by cutting spending.  Since Spadea started talking, all Senator Beck has done is to vote for more spending -- like the $7 million more for funding Planned Parenthood. 

But Spadea doesn't appear to notice these incongruities.   The talk radio host has already handed out the black hats and the white hats in his stage production of "a little masturbation ritual" -- and he doesn't want to reassign the "goodies" and the "baddies".  Hey, stick to playing with your electric blue phallic symbol.  Facts are too much for you.

Did Super PAC's Sue McCue break ethics rules?

Last year, in probably the single most bizarre appointment of his career, Governor Chris Christie appointed Susan M. McCue, a Washington DC career insider and establishment critter, as one of the 15 members of the Rutgers Board of Governors.  These are the people who set policy and control what goes on at New Jersey's state university. 

DC party gal Sue McCue, friend of world class tax-rip-offs.

Susan McCue is a Democrat and was Senator Harry Reid's chief of staff and hatchet lady.  Before going Hollywood, Sue McCue ran the Senate Democrats' Super PAC that was so successful in holding off Republican domination of that body.   But then she did go Hollywood and started shilling for one of the biggest self-promoting tax avoidance artists in the WORLD -- the formerly Irish artist (now a citizen of wherever he can avoid paying taxes), the one and only Bone-job. 

Senator Reid is a FOG -- Friend of George (as in Norcross) -- and it was probably through this conduit that Sue met Chris and led Chris to appoint Sue to the Rutgers Board of Governors.  There is no doubt that Sue McCue has an impressive resume -- when it comes to crushing the nuts of the NJGOP.  McCue's Super PAC shut out the GOP's effort to pick-up legislative seats in 2013, when the Governor was winning by 20 points.  Then got their own nuts handed to them by the Pennsylvania GOP when they tried to do the same there in 2014.  PA Republicans heavily padded their majorities in both chambers despite the GOP Governor losing by 10 points.

This year Sue McCue is at it again.  Her General Majority SUPER PAC is spending millions against Republican Assembly candidates -- much of it improperly or at least unethically "wheeled" from other PACs. 

But there's a larger issue here for this resident of Alexandria, Virginia.  Is Susan McCue's involvement in her Super PAC even ethical?  Does it present a conflict of interest?

The by-laws of the Rutgers Board of Governors states:  "Members of the Board of Governors are covered by the "special state officer or employee" provisions of the New Jersey Conflicts of Interest Law (NJSA 52:13D-12 et seq.) and by the University Conflicts of Interests Policy for Members of Board of Governors, Trustees..."

The Policy warns each Member of the Board of Governors "to ensure that no detriment or appearance of detriment to the University's interests results from a conflict between the best interests of the University and any personal, financial, or other interest of a Board member or University officer."

The Policy states:  "Rutgers, The State University is an instrumentality of the State of New Jersey and provides public higher education services.  The University is 'impressed with a public trust,' and members of the Boards of Governors, Trustees, Camden Board of Directors, and University officers have a fiduciary duty to the University.  A Board member's and officer's fiduciary duty provides that he or she shall always be guided by the best interests of the University.  Thus, Board members and officers may not act on matters in which they have a financial or personal interest that might interfere with the performance of their duties."

"Members of the Boards of Governors or Trustees, the Camden Board of Directors, or University officers shall not have any interest, financial or otherwise, direct or indirect, or engage in any business or transaction or professional activity, which is in substantial conflict with the proper discharge of his or her duties in the public interest."

"Members of the Boards of Governors or Trustees, the Camden Board of Directors, or University officers shall not undertake any employment or service, whether compensated or not, which might reasonably be expected to impair their objectivity and independence of judgment in the exercise of official duties."

"Members of the Boards of Governors or Trustees, the Camden Board of Directors, or University officers shall not knowingly act in any way that might reasonably be expected to create an impression or suspicion among the public having knowledge of their acts that they may be engaged in conduct violative of their trust as a special State officer or State officers."

It looks like Susie McCue has a lot of explaining to do.

We have received some requests for Rev. Greg Quinlan's contact information regarding his letter to the Rutgers President and Chairman of the Board of Governors.  Greg may be reached at 513-435-1125.