Kane, a resident of Secaucus' 1st Ward, was one of three names submitted by the committee to the mayor and council after a meeting held on Monday. As required by statute, the committee had to submit three names for consideration. Kane had been considered by the Democrats for the past several weeks. Once the committee and Town Council realized there was a possible conflict of interest with another nominee, their attention quickly turned to Kane, a smart and experienced executive who retired from his previous posts on Wall Street in 2000.
"Secaucus is already a financially well-run community, but I hope I can bring some of my financial expertise to the council and help to keep the record of stable taxes in our community," said Kane last week.
On the Tuesday following the committee's meeting, Mayor Elwell and the council held a special meeting in the evening to vote on Kane's candidacy and swear him into the seven-member council immediately thereafter. Michael Marra, the town clerk, swore Kane in while his youngest son, Patrick, 12, held the Bible and his wife Lori Ann and oldest son, Richard Jr., 18, looked on.
Kane, 46, retired after a successful career of more than 20 years working for well known financial firms such as Merrill Lynch and ABN AMBRO, Inc. Kane's forte was trading energy futures and options on a global scale. Now that he is at home on a more permanent basis, Kane spends much of his time coaching sports on various levels including the boys Junior Varsity basketball squad at the Secaucus High School. A self-described "sports fanatic," Kane has his team off to a pretty 4-2 start.
When asked about his goals and aspirations for his new position, Kane indicated that this was a good time for him to focus more on Secaucus now that his children are a bit older.
"Both my parents and in-laws live in Secaucus," said Kane. "My wife grew up here and I moved here as a kid in 1969. There is something very comfortable about this town that keeps the residents here. I hope to continue that trend and keep Secaucus as a place that families want to stay in."
First approached about the possibility of running for council along with Mayor Elwell back when the mayor was a councilman, Kane had to decline because the timing was not right. But when he was recently approached by Elwell to finish out Marra's term, which expires at the end of the year, Kane saw it as a good opportunity to finally get involved with the council.
"With everything I do, I always look at it in the long-term, never the short-term," said Kane, who indicated that he would certainly seek re-election later this year assuming all things go well.
With the political battleground already beginning to take shape for the ensuing elections, Kane has a unique position in his first stint in politics. He is not yet enameled to a particular side despite being politically appointed rather than elected.
Said Mayor Dennis Elwell, "[Kane] will be a great addition to our team on the council."
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