FUNDING FOR NJ SPOTLIGHT NEWS IS PROVIDED BY THE MEMBERS OF THE NEW JERSEY EDUCATION ASSOCIATION, MAKING PUBLIC SCHOOLS GREAT FOR EVERY CHILD.

RWJ BARNABAS HEALTH.

LET'S BE HEALTHY TOGETHER.

AND BY ORSTED.

CREATING A NEW CLEAN AND SUSTAINABLE ENERGY FUTURE FOR NEW JERSEY.

FROM NJ PBS, THIS IS NJ SPOTLIGHT NEWS.

>>> MILLIONS OF FEDERAL STUDENT LOAN BORROWERS WILL GET A PORTION OF THEIR FEDERAL DEBT FORGIVEN.

PRESIDENT BIDEN MAKING THE LONG- AWAITED ANNOUNCEMENT TODAY, DETAILING THE DEBT CANCELLATION PLAN WHILE ALSO EXTENDING FOR ONE MORE TIME THE FREEZE ON STUDENT LOAN DEBT REPAYMENTS THROUGH THE END OF THE YEAR.

WITH TRILLIONS IN STUDENT LOAN DEBT OUTSTANDING, THE PRESIDENT SAID THAT THIS MOVE IS GOOD FOR STUDENTS AND GOOD FOR THE ECONOMY.

SENIOR POLITICAL CORRESPONDENT DAVID CRUZ LOOKS AT WHO WILL BE HELPED, AND WHETHER THE PLAN GOES FAR ENOUGH.

>> WHEN I CAMPAIGNED FOR PRESIDENT, AND MADE A COMMITMENT THAT WE WOULD PROVIDE STUDENT DEBT RELIEF.

I AM HONORING THAT COMMITMENT TODAY.

>> Reporter: AFTER MUCH INTERNAL DEBATE AND PARTY CONSULTATION, THE PRESIDENT TODAY ANNOUNCING NEW MEASURES TO HELP MILLIONS OF AMERICANS GET OUT FROM UNDER CRUSHING STUDENT LOAN DEBT, WHICH HAS BALLOONED NATIONALLY TO NEARLY $2 TRILLION.

THE CENTERPIECE OF THE PRESIDENT'S PLAN IS $10,000 IN STUDENT LOAN FORGIVENESS TO INDIVIDUALS MAKING LESS THAN $125,000, $250,000 FOR FAMILIES.

PELL GRANT RECIPIENTS, STUDENTS FROM LOWER INCOMES, WOULD BE ELIGIBLE FOR ANOTHER $10,000 IN RELIEF.

FOR JASMINE SANCHEZ OF WE HEARKEN, IT COULDN'T COME AT A BETTER TIME.

>> IT IS GOING TO REALLY GET RID OF A BURDEN THAT HAS BEEN --SINCE I WAS LIKE 19, 18, AND I AM 31 NOW.

>> Reporter: SANCHEZ NOW OWES $10,000 IN STUDENT LOANS FOR A PROGRAM THAT SHUT DOWN.

STUCK IN LOW-PAYING JOBS AND UNABLE TO GET OUT FROM UNDER THE DEBT, SANCHEZ HAS NOT BEEN ABLE TO GET HER CREDIT SCORE TO WHERE IT NEEDS TO BE IN ORDER TO GET FINANCIAL STABILITY.

>> THEY DON'T TELL YOU THAT HEY, THIS IS GOING TO FOLLOW YOU AND PEOPLE ARE GOING TO JUDGE YOU, EVEN THOUGH YOU MAY HAVE THE WORK ETHIC OR YOU MAY HAVE THE ABILITIES AND SKILLS, BUT YOUR CREDIT IS FROWNED UPON BECAUSE YOU HAVE A NEGATIVE IMPACT AND YOU HAVE SOMETHING TO SAY, HEY, I AM RESPONSIBLE.

>> Reporter: IN NEW JERSEY, THE AVERAGE STUDENT LOAN DEBT IS CLOSER TO $30,000, AND IN SOME CASES IT IS MUCH, MUCH HIGHER.

>> IT DOESN'T HELP ME MUCH.

I ATTENDED A PRIVATE COLLEGE, AND MY STUDENT LOAN DEBT IS A LOT MORE THAN $10,000.

IT IS ALMOST KIND OF LIKE A DROP IN THE BUCKET FOR ME.

IT WOULDN'T EVEN COVER THE INTEREST ON MY STUDENT LOANS.

>> THE FACT OF THE MATTER IS THAT THE STUDENT DEBT CRISIS HAS IMPACTED PEOPLE OF COLOR MUCH MORE SIGNIFICANTLY.

WE KNOW THAT FAMILIES OF COLOR HAVE LESS GENERATIONAL WEALTH, SO MANY OF THESE STUDENTS ARE GOING INTO HIGHER EDUCATION HAVING TO TAKE OUT MUCH MORE DEBT TO PAY THEIR TUITION.

THEREFORE THEY COME OUT WITH MORE DEBT, AND INCOME INEQUALITY MEANS THAT THEY ARE OFTEN TAKING MUCH LONGER TO PAY BACK THE DEBT.

THEY DON'T HAVE THE SAME INCOME AS THEIR WHITE COUNTERPART.

>> Reporter: BROWN ESTIMATES THAT ABOUT 1 MILLION PEOPLE WILL BENEFIT FROM THE PRESIDENT'S PLAN, WHICH IS A START, SHE SAYS.

SHE IS INCLUDING MEMBERS OF CONGRESS WHO URGED THE PRESIDENT TO FORGIVE $50,000 IN DEBT.

STRENGTHENING PROGRAMS LIKE THE LOAN FORGIVENESS PROGRAM FOR THOSE WHO GO INTO PUBLIC SERVICE, PROTECTIONS FROM PREDATORY INSTITUTIONS, AND IN GENERAL BETTER EDUCATION, ESPECIALLY FOR COMMUNITIES OF COLOR.

GONZALES RUNS COLLEGE MONEY CHICA, A PROGRAM THAT HELPS STUDENTS AVOID LOAN DEBT IN THE FIRST PLACE.

FOR THEM, SHE SAYS TO PLAN AND START EARLY, LIKE IN HIGH SCHOOL.

>> I ENCOURAGE STUDENTS TO START LOOKING DURING THEIR SOPHOMORE YEAR FOR WHAT KIND OF SCHOLARSHIPS THEY WANT TO APPLY FOR IN THEIR SENIOR YEAR.

IF YOU KNOW IN ADVANCE WHAT SCHOLARSHIP COMMUNITIES ARE LOOKING FOR, YOU CAN PUT YOURSELF IN A POSITION TO BE THE PERFECT CANDIDATE FOR THEM SO THAT YOU CAN BE SELECTED FOR SCHOLARSHIPS.

>> Reporter: IT IS JUST ONE OF MANY STRATEGIES FAMILIES NOW HAVE TO MAKE PART OF THEIR COLLEGE PLANNING.

BECAUSE WITHOUT REFORMS TO THE SYSTEM, INCLUDING THE OVERALL COST OF HIGHER EDUCATION, FAMILIES ARE FACING EITHER STUDENT LOAN DEBT OR NO HIGHER EDUCATION AT ALL.

I'M DAVID CRUZ, NJ SPOTLIGHT NEWS.

>>> ALSO TODAY, PRESIDENT BIDEN ANNOUNCED ANOTHER $3 BILLION IN AID FOR UKRAINE, WHICH CONTINUES TO DEFEND ITSELF AGAINST ATTACKS FROM RUSSIA.

TODAY MARKS SIX MONTHS SINCE THE RUSSIANS FIRST INVADED, AND THE PRESIDENT'S ANNOUNCEMENT CAME ON UKRAINIAN INDEPENDENCE DAY, WHICH COMMEMORATES THE COUNTRY'S INDEPENDENCE FROM SOVIET RULE 31 YEARS AGO.

NOW UKRAINE FINDS ITSELF FIGHTING FOR ITS FREEDOM AGAIN IN A WAR THAT HAS LEFT THOUSANDS OF CIVILIANS DEAD AND MILLIONS MORE AS REFUGEES, AS THE RUSSIAN MILITARY CONTINUES TO BOMBARD ITS CITIES.

PRESIDENT BIDEN SAYS THAT THE NEW FUNDS WILL ALLOW UKRAINE TO ACQUIRE AIR DEFENSE SYSTEMS, ARTILLERY SYSTEMS AMMUNITIONS, DRONES, AND OTHER EQUIPMENT TO ENSURE I CAN CONTINUE TO DEFEND ITSELF OVER THE LONG-TERM.

THE U.S. HAS WARNED THAT RUSSIA APPEARS TO BE PLANNING FRESH ATTACKS.

ON MONDAY, THE U.S. EMBASSY IN UKRAINE AND THE STATE DEPARTMENT ISSUED A NEW SECURITY ALERT FOR UKRAINE THAT REPEATED A CALL FOR AMERICANS IN THE COUNTRY TO LEAVE DUE TO THE DANGER.

>>> YOUNG ADULTS HAVE INCREASED THEIR DRUG USE, ACCORDING TO NEW FEDERAL DATA.

THE NATIONAL INSTITUTE FOR HEALTH'S MONITORING THE FUTURE STUDY SAYS THAT USE OF MARIJUANA AND HALLUCINOGENIC DRUGS REACHED AN ALL-TIME HIGH AMONG YOUNG ADULTS LAST YEAR, WHILE ALCOHOL USE DECLINED SOMEWHAT.

NJ SPOTLIGHT NEWS'S HEALTHCARE PROVIDER HAS BEEN DIGGING INTO THE DATA AND JOINS ME NOW WITH MORE.

GOOD TO SEE YOU, LILO.

>> HI, RHONDA.

GOOD TO BE HERE.

>> WHAT IS BEHIND THE INCREASE IN DRUGS, AND ARE THE FINDINGS SURPRISING?

>> THEY DON'T SEEM TO BE.

THERE IS GOOD EXPLANATION FOR THIS ACCORDING TO SOME FOLKS THAT I SPOKE TO.

THE RISE IN MARIJUANA USE, WE ARE TALKING ABOUT YOUNG ADULTS WHO ARE 19-30 IN THIS PARTICULAR STUDY.

THEY ARE, IN MANY STATES THEY NOW HAVE LEGAL ACCESS TO CANNABIS.

SO PEOPLE ARE USING IT AND TRYING IT MORE.

SO THAT IS NOW 43% OF THE AGE GROUP WHO USED CANNABIS IN THE LAST YEAR, WHICH DOESN'T SEEM PARTICULARLY SURPRISING CONSIDERING HOW READILY AVAILABLE IT IS.

HALLUCINOGENIC'S MIGHT BE A LITTLE MORE UNUSUAL, BUT PEOPLE I TALKED TO SAID THAT PEOPLE ARE LOOKING TO ESCAPE.

IT HAS BEEN A DIFFICULT YEAR WITH THE PANDEMIC IN THE PAST AND ECONOMIC CHANGES AND INFLATION.

THERE IS A LOT GOING ON, AND PEOPLE ARE LOOKING FOR AN ALTERNATE REALITY, I GUESS.

>> WHAT ABOUT ALCOHOL USE?

OVERALL THERE IS STILL A LARGE PERCENTAGE OF YOUNG ADULTS USING ALCOHOL, JUST A SLIGHT DECLINE FROM WHAT WE HAVE SEEN IN THE PAST.

RIGHT?

>> RIGHT.

IT WAS A DECLINE IN BINGE DRINKING AND DAILY DRINKING, WHICH AS SOME OF US MIGHT NOT BE SURPRISED TO HEAR, WAS VERY HIGH DURING 2020.

STILL, ABOUT EIGHT IN 10 YOUNG ADULTS ARE DRINKING DURING THE YEAR.

TWO THIRDS DRANK IN THE LAST MONTH.

SO A LOT OF PEOPLE STILL USE ALCOHOL, IT IS JUST NOT THAT SORT OF BINGING THAT WE SAW EARLY IN THE COVID PANDEMIC.

>> SO BELOW, THESE ARE NATIONAL TRENDS.

THESE ARE NATIONAL NUMBERS.

WHAT ABOUT NEW JERSEY?

ARE THE SAME TRENDS PLAYING OUT HERE FROM PEOPLE YOU SPOKE WITH?

>> RIGHT, WELL THE STATISTICS AREN'T THE SAME.

SO YOU CAN'T REALLY DO AN APPLES TO APPLES COMPARISON.

PEOPLE I TALKED TO SAID THAT THEY ARE SEEING SOME OF THESE TRENDS AND SIMILAR PATTERNS IN NEW JERSEY OF USE, DEFINITELY WITH MARIJUANA, WHICH WE KNOW OPENED UP HERE LAST YEAR.

THE, I THINK THE BIG ISSUE WHEN YOU LOOK AT TREATMENT PATTERNS IN NEW JERSEY, HEROIN AND OPIATES ARE STILL THE PRIMARY REASON PEOPLE GO INTO TREATMENT IN NEW JERSEY, AND NEARLY 80,000 PEOPLE SOUGHT TREATMENT IN 2020, THE MOST RECENT YEAR WE HAVE NUMBERS.

THAT'S A LOT.

THE VAST MAJORITY WERE FOR HEROIN.

ALCOHOL AND MARIJUANA WERE NEXT, BUT THEY COME FAR LOWER ON THE LIST.

WHEN IT COMES TO PROBLEMS, HEROIN AND THE OB WHAT HAPPENED BACK ARE STILL WITH US, AND WE LOST 3000 PEOPLE TO THAT.

>> HOW DO POLICYMAKERS USE THIS DATA?

>> I THINK THE THING THAT IS UNIQUE ABOUT THIS STUDY IS THAT THEY CALL IT MONITORING THE FUTURE, AND IT ALLOWS --THE DATA DATES BACK TO 1975.

IT GIVES PUBLIC HEALTH RESEARCHERS A REALLY UNIQUE TOOL TO SEE HOW PATTERNS CHANGE OVER TIME.

IT IS REALLY INTERESTING TO LOOK AT THAT.

>> LILO, GOOD TO TALK TO YOU.

THANK YOU.

>> YOU'RE WELCOME, THANKS, RHONDA.

>>> WITH THE SCHOOL YEAR FAST APPROACHING, THE STATE'S SCHOOL DISTRICT IS MAINTAINING THE COVID MASS MANDATE FOR STUDENTS AND TEACHERS.

NEWARK KEPT THE MASS MANDATE IN PLACE DURING SUMMER CLASSES, AND IS BELIEVED TO BE THE ONLY DISTRICT IN THE STATE THAT KEPT THE MANDATE FOR THE ENTIRE 2021 -2022 SCHOOL YEAR.

OTHER DISTRICTS EASED MASK REQUIREMENTS AS COVID CASES DECLINED.

RUTGERS UNIVERSITY ANNOUNCED THAT MASK MANDATES WILL BE IN PLACE FOR UNIVERSITY OF LIBRARIES.

ROCKERS IS NOT ALONE.

ATTENDEES AT THE UNIVERSITY OF DELAWARE WILL FIND A MASK MANDATE IN PLACE AS WELL.

>>> IN OTHER NEWS, PFIZER HAS ASKED THE FDA FOR EMERGENCY USE AUTHORIZATION FOR THEIR NEW VACCINE TARGETING COVID VARIANTS.

MODERNA IS TARGETING PEOPLE 18 AND UP.

IF THE FDA GIVES APPROVAL, THE UPDATED BOOSTERS COULD BE AVAILABLE NEXT MONTH.

>>> WELL, IT HAS CERTAINLY GOTTEN CHEAPER TO FILL UP YOUR GAS TANK, BECAUSE PRICES HAVE DROPPED FROM THE RECORD HIGHS WE SAW A FEW MONTHS AGO.

BUT COULD OR SHOULD THOSE PRICES BE EVEN LOWER?

ACCORDING TO ONE NEW JERSEY CONGRESSMAN, THE ANSWER TO THAT QUESTION IS A RESOUNDING YES.

CONGRESSMAN BILL HAS HARSH WORDS FOR BIG OIL FOLLOWING THE RELEASE OF THE HOUSE WAYS AND MEANS SUBCOMMITTEE REPORT ON GAS PRICES.

TED GOLDBERG HAS OUR STORY.

>> Reporter: WHEN IT COMES TO HIGH GAS PRICES, CONGRESSMAN BILL PASCRELL HAS A NEW WORD FOR IT.

PASCRELL IS ACCUSING OIL AND GAS COMPANIES OF HIGHWAY ROBBERY.

FOLLOWING A NEW REPORT FROM THE HOUSE WAYS AND MEANS COMMITTEE, HE ARGUES THAT COMPANIES ARE JACKING UP THE PRICE OF GAS TO MAKE MORE MONEY.

>> INSTEAD OF A TRADITIONAL SUPPLY AND DEMAND ECONOMIC MODEL, WHERE WE WOULD EXPECT TO SEE THESE COMPANIES WRAPPING UP PRODUCTION AND REFINING TO MEET RISING DEMAND FOR GAS, THEY ARE USING PROFITS TO BUY BACK THEIR OWN STOCK.

TO FURTHER PAD THE POCKETS OF THEIR EXECUTIVES AND SHAREHOLDERS.

>> Reporter: THE PRICE OF GAS HAS DROPPED FROM EARLIER THIS SUMMER.

PASCRELL SAYS THAT OIL COMPANIES HAVE GOTTEN GREEDY ABOUT THEIR SUPPLY.

>> THE CHARTS IN OUR REPORT SPEAK FOR THEMSELVES, AND I DEFY ANYONE TO FIND THEM -- >> THESE OIL AND GAS COMPANIES ARE LOOKING OUT FOR THEMSELVES AND THEMSELVES ONLY.

THEY ARE TRYING TO LINE THEIR POCKETS WITH MONEY THAT WE ARE WORKING HARD TO EARN.

ALL OF THESE RECORD PROFITS THAT THEY ARE MAKING, THE BILLIONS OF DOLLARS, THAT IS COMING ON THE BACKS OF HARD- WORKING, MIDDLE-CLASS AMERICANS.

>> Reporter: THE REPORT COMES FIVE MONTHS AFTER PASCRELL WROTE A LETTER TO THESE COMPANIES ASKING FOR FINANCIAL INFORMATION TO EXPLAIN HOW GAS PRICES JUMPED AFTER RUSSIA INVADED UKRAINE.

OF THOSE 11 COMPANIES NOT NINE PROVIDED ANSWERS.

OTHER COMPANIES BLAME THINGS LIKE SUPPLY CHALLENGES AND GLOBAL COMMODITY MARKETS.

ONE COMPANY TOLD PASCRELL THAT THE MARKET ESTABLISHES THE PRICE BASED ON AVAILABLE SUPPLY.

>> WE THINK THAT MANY TIMES, GETTING OVER ON PEOPLE MAKES US SMARTER THAN THEM.

NO IT DOESN'T.

IT MAKES YOU COMING.

ALL THE FOOLS IN HISTORY WERE CUNNING PEOPLE.

THEY DIDN'T CARE ABOUT ANYBODY ELSE.

>> Reporter: PASCRELL HOPES THAT THIS REPORT LEADS TO CHEAPER GAS AND INCREASED SAVINGS ALL AROUND.

>> WHEN THE PRICE OF GASOLINE GOES DOWN, THE PRICE OF EVERYTHING GOES DOWN.

YOU TRANSPORT THAT PRODUCT OR SERVICE, AND IT COSTS MONEY.

YOUR TRUCKS ARE OUT THERE.

YOU'RE MOVING BY RAIL.

THE POINT OF THE MATTER IS THAT YOU ARE TRANSPORTATION OBJECTIVES CHANGE.

YOU WANT IT TO COME DOWN.

>> Reporter: THE REPORT IS ONLY TARGETING OIL COMPANIES.

IT DOES NOT ACCUSE INDIVIDUAL GAS STATION FRANCHISEES OF MANIPULATING THE PRICE OF GAS.

IN CLIFTON, I AM TED GOLDBERG, NJ SPOTLIGHT NEWS.

>>> IN OUR SPOTLIGHT ON BUSINESS REPORT TONIGHT, SOME RELIEF FOR CAREGIVERS IN CAMDEN COUNTY.

THE BOARD OF COMMISSIONERS HAS RELEASED A $1.2 MILLION PROGRAM FOR ELIGIBLE CAREGIVERS WHOSE WAGES WERE AFFECTED BY THE PANDEMIC.

CAREGIVERS WHO ARE RESPONSIBLE FOR THE ELDERLY CHILDREN OR ADULTS WITH DISABILITIES CAN APPLY FOR $1000 IN RELIEF FUNDS.

CERTAIN OTHER CRITERIA MUST BE MET.

CAREGIVERS MUST LIVE IN CAMDEN COUNTY OR PROVIDE CARE TO SOME LIVING IN THE COUNTY.

THE COUNTY IS CURRENTLY ACCEPTING APPLICATIONS AND GRANTS ARE BEING AWARDED ON A FIRST-COME FIRST-SERVED BASIS.

FUNDING FOR THE PROGRAM WAS PROVIDED BY THE FEDERAL GOVERNMENT.

>>> SOME HOMEBUYERS HAVE BEEN FRUSTRATED BY THE NEW JERSEY REAL ESTATE MARKET.

HOUSING INVENTORY REMAINS LOW, AND PRICES ARE HIGH.

HOMEBUYERS ARE ALSO COMPETING WITH CORPORATIONS FOR PROPERTIES.

THE ASBURY PARK PRESS ANALYZED MILLIONS OF PROPERTY RECORDS IN NEW JERSEY OVER THE PAST DECADE AND FOUND THAT THE NUMBER OF LIMITED LIABILITY CORPORATIONS OR LLCS THAT OWN HOMES SWORD FROM JUST 12,000 IN 2012 TO 72,000 LAST YEAR.

ONE OUT OF EVERY THREE HOMES IN NEW JERSEY IS PURCHASED BY AN LLC.

ASBURY PARK PRESS BUSINESS REPORTER MICHAEL DIAMOND JOINS ME NOW TO TALK ABOUT THIS.

MICHAEL, WELCOME.

>> THANKS, GLAD TO BE HERE.

>> SO WHY ARE LLCS BUYING UP PROPERTIES IN NEW JERSEY, AND HOW MUCH IS THAT IMPACTING HOUSING AFFORDABILITY RIGHT NOW?

>> YEAH.

IT HAS BEEN A PRETTY SIZABLE INFLUX OF LLCS COMING INTO THE STATE, AND IT REALLY PICKED UP IN 2018.

REALLY WHAT IS DRIVING IT IS JUST A LOT OF INVESTORS WHO HAVE A LOT OF MONEY ON THEIR HANDS, AND THEY ARE TRYING TO FIND GOOD WAYS TO MAKE MONEY.

ONE OF THE WAYS THEY HAVE FOUND IS WITH HOUSES THAT THEY CAN BUY PRETTY CHEAP.

SOMETIMES IT IS A FORECLOSURE, SOMETIMES IT IS A SHORT SALE.

THEY CAN RENT THEM OUT, THEY CAN RENOVATE THEM AND FLIP THEM.

WE HAVE ALSO SEEN A LOT OF LLCS TURN THEM INTO RENTALS.

THIS MAKES IT HARDER FOR FIRST- TIME HOMEBUYERS TO FIND AFFORDABLE HOUSES.

THEY HAVE A HARD TIME COMPETING WITH LLCs, BECAUSE SOMETIMES RENTERS HAVE PROBLEMS GETTING HOUSES FIXED WITH MAINTENANCE ISSUES.

FINALLY, IT IS HAVING A BIG IMPACT ON THE STATE'S WEALTH INEQUALITY.

PEOPLE WITH MONEY ARE ABLE TO MAKE MORE MONEY, AND IT WAS SORT OF LIKE, YOU KNOW, IKEA SAID THAT PEOPLE CAN FIND -- TRADITIONALLY HAS BEEN ABLE TO BUILD HOUSEHOLD WEALTH.

>> WHAT COMMUNITIES ARE SEEING MOST ACTIVITY FROM THESE CORPORATE BUYERS?

I KNOW THERE WAS AN EFFORT IN NEWARK TO RAISE ATTENTION TO THIS, BUT IT IS NOT JUST IN NEWARK.

>> IT IS NOT JUST NEWARK.

THE MOST PREVALENT THAT WE FOUND ARE LOW INCOME COMMUNITIES LIKE NEWARK AND TRENTON.

CLOSE TO 50% OF HOMES IN TRENTON ARE BOUGHT BY LLCs.

ASBURY PARK IS A TRENDY TOWN THAT IS COMING BACK, BUT THERE IS ALSO A LOW-INCOME PART OF THE CITY AS WELL BUT IS ATTRACTING A LOT OF BUYERS WHO ARE SEEING --THEY ARE TAKING ADVANTAGE OF INEXPENSIVE HOMES TO MAKE A RETURN ON THAT.

THE INTERESTING THING IS THAT WE HAVE FOUND TINY TOWNS IN NEW JERSEY LIKE THE TOMS RIVER BOROUGH THAT HAS SEEN A LOT OF LLC ACTIVITY.

>> ARE THERE ANY STATUTES THAT REGULATE THESE CORPORATE PURCHASES?

>> THERE AREN'T.

LLCs ARE TRICKY.

THEY ARE BUSINESS ENTITIES, AND THEY HAVE A LOT OF ADVANTAGES FOR MEMBERS.

THEY ARE LARGELY ANONYMOUS.

THEY CAN BE ONE MEMBER OR THEY CAN BE HUNDREDS OF MEMBERS, SO THEY ARE HARD TO TRACK.

THERE IS NOT A LOT OF EFFORT TO REIN THEM IN.

IN NEW JERSEY THERE IS A BILL THAT HAS BEEN INTRODUCED TO REQUIRE LLCs TO DISCLOSE INVESTORS, BUT NO, THEY ARE LARGELY PRETTY FREE TO OPERATE.

>> MICHAEL, THANK YOU SO MUCH FOR SHARING DETAILS ON YOUR REPORTING.

WE APPRECIATE IT.

>> THANK YOU SO MUCH FOR HAVING ME.

>>> WALL STREET RATINGS AGENCIES HAVE THEIR EYES ON NEW JERSEY.

STANDARD & POOR'S UPGRADED THE STATE'S DEBT FROM NEGATIVE TO POSITIVE, SAYING THAT STATE FINANCES HAVE SHOWN A REMARKABLE TURNAROUND.

S&P SAID THAT THE UNRESERVED FUND BALANCE AND EFFORTS TO FUND PENSION SYSTEMS ARE BIG FACTORS.

THE MURPHY ADMINISTRATION NOTES THAT THE UPGRADE BY S&P IS THE FIFTH UPGRADE SINCE THE FISCAL BUDGET WAS ENACTED.

IT IS A DIFFERENT STORY FOR TRENTON, AS MOODY'S HAS ISSUED A NEGATIVE OUTLOOK, SAYING THAT RECENT WORRYING GOVERNANCE ISSUES ARE WEAKENING THE CITY'S CREDIT QUALITY.

MOODY'S NOTES THAT WHILE TRENTON'S POSITION IS HEALTHY, THE CITY COUNCIL AND MAYOR HAVE HAD DISAGREEMENTS OVER FINANCIAL ISSUES HAVE BEEN UNABLE TO PASS A BUDGET FOR 2022.

>>> AND NOW, HERE IS A LOOK AT HOW THE STOCK MARKET CLOSED TODAY.

>>> HIGH-RISE LUXURY BUILDINGS IN NORTH JERSEY RELY ON A STAFF OF WORKERS TO PROVIDE SERVICES FOR RESIDENTS.

THERE IS STORE MEN AND WOMEN, PORTERS, BUILDING SUPERINTENDENTS AND THOSE WHO DO REPAIR AND MAINTENANCE.

AT ONE LUXURY CO-OP, HORIZON HOUSE IN FORT LEE, WORKERS THERE SAY THEY ARE NOT BEING PAID FAIRLY, AND THAT THEIR CURRENT WAGES DO NOT KEEP UP WITH RISING COSTS.

TODAY THEY STAGED A 24 HOUR STRIKE TO MAKE SOME NOISE AND DEMAND THAT THEY BE HEARD.

MELISSA ROSE-COOPER HAS OUR REPORT.

>> Reporter: MEMBERS OF THE 32 BJ'S SERVICE EMPLOYEES INTERNATIONAL UNION CALLING FOR CHANGE.

THEY WANT HORIZON HOUSE, WHICH OWNS THIS HOUSING COMPLEX IN FORT LEE, TO GIVE THEM BETTER PAY AND BENEFITS.

>> YOU KNOW HOW IT IS WHEN YOU GO SHOPPING.

YOU HAVE TO GET LITTLE FOOD AND YOU HAVE TO PUT THINGS BACK, RIGHT WAXY I HAVE A 10-YEAR-OLD DAUGHTER AND A LOVELY WIFE THAT I HAVE BEEN WITH SO LONG.

I AM TRYING TO MAKE ENDS MEET.

>> Reporter: WORKERS SAY THEY ARE STRUGGLING, SO THEY WALKED OFF THE JOB FOR THE DAY HOPING TO GET THEIR EMPLOYER'S ATTENTION.

IT IS THEIR SECOND STRIKE IN THREE YEARS.

>> WORKERS HAVE BEEN HERE FOR 30 YEARS, MANY OF THEM FOR AT LEAST 30 YEARS, STRUGGLING.

THEY SAY THAT WE WANT TO GIVE YOU A LOUSY WAGE AND NO RECOGNITION OF HOW HARD THEY HAVE WORKED.

>> Reporter: KEVIN BROWN IS THE EXECUTIVE VICE PRESIDENT.

HE SAYS THAT THE ANNUAL MEDIUM WAGE FOR HORIZON HOUSE WORKERS IS $11.19 PER HOUR, BUT A LOT OF THEM MAKE A STARTING RATE THAT IS CLOSER TO THE STATE MINIMUM WAGE OF $13 AN HOUR.

>> THEY GOT A RAGE RACE OF $.30.

BUT TO ADD INSULT TO INJURY, THEY WANT A PAYMENT OF ABOUT $1500 A YEAR FROM THESE WORKERS FOR THEIR HEALTHCARE.

YOU KNOW, WE ALL KNOW HOW CRITICAL QUALITY, AFFORDABLE HEALTHCARE IS GOING THROUGH THE PANDEMIC.

NOW THEY WANT TO MAKE WORKERS PAY, WHICH THEY HAVEN'T PAID.

>> Reporter: DESPITE SEVERAL BARGAINING SESSIONS THIS YEAR, WORKERS SAY THAT NOTHING HAS BEEN DONE TO MAKE THINGS BETTER.

THEY FEEL DISRESPECTED, AND THEY ARE FED UP.

>> A LOT OF MEMBERS HAVE BEEN HERE FOR 30 YEARS, 20 YEARS.

WE JUST WANT A FAIR CONTRACT.

>> Reporter: CHRIS HAS BEEN WORKING AS A REPORTER FOR 30 YEARS AND JUST WANTS TO BE ABLE TO TAKE CARE OF HIS FAMILY.

>> I JUST WANT TO TAKE MY SON OUT ON WEEKENDS TO DO BASIC STUFF.

I HAVE TO LIMIT HOW MANY TIMES I CAN GO TO McDONALD'S OR GO TO THE MOVIES.

WE NEED THAT EXTRA MONEY TO PAY THE BILLS.

>> THESE WORKERS, LIKE SO MANY OTHER RESIDENTIAL WORKERS IN NEW JERSEY, ARE TOLD THAT THEY ARE ESSENTIAL.

THEY GREET CLIENTS AND RESIDENTS WITH OPEN ARMS.

THEY SMILE AND TAKE CARE OF THEIR PACKAGES.

BUT THEY DON'T RESPECT THEM WHEN IT COMES TO THE MARKETING TABLE.

THEY DON'T RESPECT THEM IN TERMS OF THEIR WAGES AND BENEFITS.

>> Reporter: WE REACHED OUT TO HORIZON HOUSE FOR COMMENT ON THE STRIKE, AS WELL AS WORKER DEMANDS FOR BETTER PAY AND BENEFITS, BUT HAVE NOT YET HEARD BACK.

FOR NOW, THESE EMPLOYEES WILL CONTINUE TO WALK UNTIL THEIR VOICES ARE HEARD.

>> IF WE DON'T GET IT?

>> SHUT IT DOWN!

>> Reporter: FOR NJ SPOTLIGHT NEWS, I AM MELISSA ROSE- COOPER.

>> THAT DOES IT FOR US TONIGHT, BUT MAKE SURE YOU HEAD OVER TO OUR WEBSITE TO CHECK OUT ALL THE NEWS ON THE GARDEN STATE.

FOR THE ENTIRE NJTV TEAM, WE WILL SEE YOU TOMORROW.

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