Town Topics — Princeton's Weekly Community Newspaper Since 1946.
Vol. LXII, No. 51
 
Wednesday, December 17, 2008
Coldwell Banker Princeton Office

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University’s Economic Impact Study Contains Questionable Calculations

HELMUT SCHWAB
Westcott Road

HomeFront Grateful for Community Help in Providing 6,000 Thanksgiving Dinners

CONNIE MERCER
HomeFront, Lawrenceville

Palmer Square Chanukah Celebration to Feature Annual Menorah Lighting

DAVID S. NEWTON
Palmer Square Management LLC
Nassau Street


University’s Economic Impact Study Contains Questionable Calculations

Have you read and believed the recent University report on its economic impact on Princeton? If not, do so right away. Amazing, how Princeton University presents its calculation!

Have you ever heard of a businessman who presents revenue as profit, or who cannot distinguish between gross and net?

Has the University overlooked not only the cost factor, but, more importantly, the alternative benefit for the community if all of those buildings were filled with for-profit companies or their employees?

How many thousands of people could be employed and housed in as many and as large taxable buildings as the University’s?

How much would all those people spend here?

How many visitors and salesmen would come to these companies to invite their managers to Princeton restaurants? How much would their combined total spending in Princeton be?

One more point: The present students are reported as spending about $34 million per year in Princeton. Wow! We have fewer than 8,000 students; that means that the average student spends more than $4,000 per year in Princeton. Our own son, when attending Princeton, certainly did not have that kind of money to throw around. Or does the report figure textbooks, electronics, and other supplies into this amount, all purchased at the University’s own store?

What’s going on here with presenting such a calculation to the citizens of Princeton? Is there some higher intelligence at the University, or are we thought to be a bit dumb?

I don’t want to suggest that the University slowly move to its land south of the lake in West Windsor. No — let’s keep our wonderful University here. However, let’s also be fair about the University’s contribution to our tax burden. How about just 10 to 15 percent of the total of municipal, county, and school burden combined?

HELMUT SCHWAB
Westcott Road

HomeFront Grateful for Community Help in Providing 6,000 Thanksgiving Dinners

To the Editor:

Want to live in a great community? You already do. Once again, our community has demonstrated its caring and commitment to our area’s neediest families.

Thanks to literally hundreds of individuals, organizations, corporations, and congregations, HomeFront was able to provide an estimated 6,000 low-income parents and children not only with all the ingredients for a Thanksgiving feast but also with some additional food items for the coming weeks.

We find this generosity particularly overwhelming in these difficult economic times. (Which are, of course, even more challenging for HomeFront families.)

On behalf of all the parents and children who benefited from this tangible evidence of a caring community, I send our most sincere thanks.

CONNIE MERCER
HomeFront, Lawrenceville

Palmer Square Chanukah Celebration to Feature Annual Menorah Lighting

To the Editor:

On Monday night, December 22 at 6 p.m., Palmer Square will host its 14th Annual Menorah Lighting. This year the event takes on a greater significance in that we are including a Moment of Solidarity with the Citizens of Mumbai and the victims of the recent terrorist attacks in that city.

Chanukah is a celebration of light and miracles. In the 30th Psalm, which is associated with this occasion, one of the concluding verses reads, “You turned my mourning into dancing; you loose my sackcloth, and clothe me with garments of joy.”

Notwithstanding the fact that there are many stores on Palmer Square and in the Downtown area who would very much like to clothe you with garments of joy, we greatly look forward to your presence at this event.

DAVID S. NEWTON
Palmer Square Management LLC
Nassau Street

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