City Sues Colgate Over Clock PaymentsBy Jon Whiten • Apr 22nd, 2009 • Category: Blog, News
Photo: Kevin Coles
Jersey City is suing Colgate-Palmolive Co. for $1.1 million over payments related to the famed Colgate clock on the bank of the Hudson River.
In court papers filed April 16 in Superior Court, the city says Colgate moved the clock to city land in 1997 and in 2005 promised to pay Jersey City a $1 million lump sum in addition to $20,000 per year for the maintenance and operation of the clock. The suit says Colgate has failed to pay any of that money.
“They did not keep their promise to the city,” Jersey City corporation counsel Bill Matsikoudis plainly tells JCI.
In addition to the money owed and affiliated interest, court fees and the like, the suit is also seeking an unspecified amount of damages from Colgate for the effect the lack of payment has had on the city’s finances.
A Colgate representative could not be reached for comment.
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