Finances Plague Company Running Halfway Houses (Cristie's buddy)

company that plays a critical role in New Jersey’s corrections system, running halfway houses as large as prisons, has had such severe financial difficulties over the last four years that it contemplated filing for bankruptcy in 2010, according to newly disclosed documents.

Senior executives at the company, Community Education Centers, even feared at the time that they might not have enough money to pay workers, the documents show.

Community Education’s senior vice president, William J. Palatucci, is one of Gov. Chris Christie’s closest friends and political advisers, and Mr. Christie has long championed the company.

Not long before Mr. Christie took office in January 2010, Community Education defaulted on its debt, the documents show.

http://www.nytimes.com/2012/07/17/nyregion/nj-halfway-house-operator-plagued-by-financial-woes.html?_r=1