New Jersey Business Magazine
September 01, 2006
This article deals with the question as to whether it is possible to balance needs for shelter and trade while balancing quality of life desires for parks and a clean environment. Ted Zangari, A Member of the Real Estate Group, stated: "One of the unintended consequences of Sarbanes-Oxley is that public companies owning idle industrial facilities are now more reluctant to unload such surplus properties because of the real possibility that information gleaned during the pre-sale due diligence process will trigger reporting obligations and expensive rmediation process." He goes on to say that the irony is that unutilized company-owned real estate lies fallow as the risk involved in selling the property is not worth the reward. Ultimately business and government must find a way to reconcile this dilemma so this land can be used.