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Crain's New York Business 20151207-NEWS--0001-NAT-CCI-CN_-- 12/4/2015 7:15 PM Page 1 CRAINS Cap on cop overtime uncorked P. 6 | Superluxe condo’s curious math P. 7 | PLUS: More trouble at the Times P. 13 ® DECEMBER 7-13, 2015 | PRICE $3.00 NEW YORK BUSINESS YES, BABY Leading-edge employers NEW NO. 1 What makes this startup THE LIST Meet the companies that prioritize new parents P. 1 6 special? Just about everything P. 1 8 make work feel like play P. 2 0 VOL. XXXI, NO. 49 WWW.CRAINSNEWYORK.COM 49 5 NEWSPAPER 71486 01068 0 B:11.125” T:10.875” S:10.25” This holiday give your business the B:14.75” T:14.5” best S:14” network. Save up to $400 when you trade in your phone and buy a new 4G LTE smartphone.* New 2-yr activation on $34.99+ plan required. $400 = $150 instant credit + $150 bill credit + $100 smartphone trade-in credit. vzw.com/myrep Offer expires 12/31/15. Account credits applied within 2-3 billing cycles. Trade-in must be in good working condition. Bill Credit will be removed from account if line is suspended or changed to non-qualifying price plan after activation. Bill credit not available on upgrades. *Devices eligible for instant discount: Kyocera Brigadier, BlackBerry Classic, LG G3, Samsung Galaxy S5 16GB, DROID Turbo 32GB, DROID Turbo 64GB, Samsung Galaxy Note 4, LG G Pad 10.1, Novatel 6620, Samsung Galaxy Tab® 4 10.1, LG G4, Samsung Galaxy S6 32GB, Samsung Galaxy Note 5, Samsung Galaxy Tab E 9.6. Activation/upgrade fee/line: $40. IMPORTANT CONSUMER INFORMATION: Corporate Subscribers Only. Subject to Major Acct Agmt, Calling Plan, & credit approval. Up to $350 early termination fee/line. Offers & coverage, varying by svc, not available everywhere; see vzw.com. While supplies last. 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Inks: Cyan, Magenta, Yellow, Black Fonts: Neue Haas Grotesk Display Std, Neue Haas Grotesk Text Std, Helvetica Neue LT Std Images: SS_Galaxy_S6_S6Edge_Lockup.ai, SS_GNote5_Logos.ai, RM_ML_SS_GlxyNote5_Blk_Frt_Frt-RedPopDec29-O35in-MG.psd (1771 ppi), RM_ML_SS_GS6Edge_Blk_Frnt-GrnPopDec29-O36in-MG.psd (1910 ppi), Verizon_CMYK_P.eps, Configuration_2A.ai, RM_AlcatelLucent_col- laboration_CMYK.ai 20151207-NEWS--0003-NAT-CCI-CN_-- 12/4/2015 7:39 PM Page 1 DECEMBERCRAINS 7-13, 2015 FROM THE NEWSROOM | JEREMY SMERD The scandal is what’s legal IN THIS ISSUE 4 AGENDA THE TRIALS OF SHELDON SILVER and Dean Skelos remind me of a 6 IN CASE YOU MISSED IT truism in journalism: Sometimes the real scandal is what’s 7 REAL ESTATE legal. In fact, Silver’s lawyers made that argument the 8 ASKED & ANSWERED We give fantasy bedrock of their defense, arguing that you may not like that sports’ existential 9 HEALTH CARE troubles a the former Assembly speaker made millions on referrals reality check 10 INSTANT EXPERT from a doctor he also funded with research grants, but it 11 wasn’t illegal. It’s just what New York legislators do. FINANCE A jury last week disagreed, finding Silver guilty of 12 WHO OWNS THE BLOCK honest-services fraud. But the 13 MEDIA argument exemplifies what’s wrong with New York’s A newspaper that is 14 VIEWPOINTS politics. There are so many ways politicians use the perks of their office to help themselves that doing so is simply really a campaign FEATURES accepted practice. Not until U.S. Attorney Preet Bharara commercial, with the 16 BEST PLACES TO WORK started indicting politicians did they begin to question the borough president’s 36 GOTHAM GIGS way they conducted themselves. Here are a smattering of 37 SNAPS examples that may be legal but seem ethically problematic: pic on every page 38 FOR THE RECORD the per diem allowances that legislators use to bump their measly pay; the “fact-finding missions” that are really 39 PHOTO FINISH junkets; and the personal expenses they charge to their campaign accounts, which they also use to pay lawyers’ fees when they get into hot water. Nic Faitos Another common practice is using taxpayer funds to underwrite campaign pamphlets disguised as official newsletters, like one from Brooklyn Borough President Eric Adams that recently arrived at my home. It initially appeared to be a 28-page newspaper called One Brooklyn, with articles and advertisements. A closer look revealed at least one photo of Adams—and sometimes six—on every page. There he was—smiling, dancing, BBQing, standing in front of an American flag. The advertisements were not much better. One, from Broadway Stages, actually P. 36 congratulated Adams (for what, it did not say). Adams justified the mailer as a way to show constituents that he’s not just sitting at his desk. “The most important part of this paper is to show that your borough president is not ignoring any part of this community,” he said. “The pictures speak a thousand words.” These mailers are hardly the worst offense politicians commit. And I would oppose any effort to regulate their speech. But taken together, they add up to a permissive political culture. They are essentially campaign literature, which is why city campaign-finance law prohibits them in the period before elections. At least then we’ll get campaign literature funded by donor dollars. I expect to see many ON THE COVER more pictures of Eric Adams when he runs again in 2017. After all, he already PHOTO: BUCK ENNIS knows where I live. DIGITAL DISPATCHES NEXT WEEK’S ISSUE WHAT TO EXPECT Go to CrainsNewYork.com READ LEADING NEW YORKERS Russian billionaire Mikhail GIVE THEIR PREDICTIONS Prokhorov has taken sole own- FOR 2016 ership of the Brooklyn Nets and > ECONOMIC Barclays Center, buying the In print and online, remaining stake he didn’t already own in the team and arena from Crain’s talks to 11 experts Bruce Ratner’s Forest City Enterprises. OUTLOOK across the city’s industries about what will shape ■ Peloton Interactive, a Chelsea-based New York indoor-cycling fitness startup, has raised in the year ahead. $75 million by selling a piece of the firm to private-equity shop Callerton. LISTEN Get the behind-the-scenes story on COMING DEC. 21: what makes a great place to work. Music by OUR ANNUAL BOOK OF LISTS the Wali Sanga CrainsNewYork.com/podcast Vol.2016 XXXI, No. 49, December 7, 2015—Crain’s New York Business (ISSN 8756-789X) is published weekly, except for double issues the weeks of June 29, July 13, July 27, Aug. 10, Aug. 24 and Dec. 21, by Crain Communications Inc., 685 Third Ave., New York, NY 10017. Periodicals postage paid at New York, NY, and additional mailing offices. Postmaster: Send address changes to: Crain’s New York Business, Circulation Department, 1155 Gratiot Avenue, Detroit, MI 48207-2912. For subscriber service: Call (877) 824-9379. Fax (313) 446-6777. $3.00 a copy, $99.95 one year, $179.95 two years. (GST No. 13676-0444-RT) BUCK ENNIS ©Entire contents copyright 2015 by Crain Communications Inc. All rights reserved. DECEMBER 7, 2015 | CRAIN’S NEW YORK BUSINESS | 3 20151207-NEWS--0004-NAT-CCI-CN_-- 12/4/2015 6:41 PM Page 1 AGENDAWHAT’S NEW DECEMBER 7, 2015 Nothing else matters if we don’t stop GLOBAL WARMING will increase storms’ climate change. NYC must do more intensity, leading to more scenes like this one in Sea Gate, his is scary: The 170 national plans at the Paris climate- Brooklyn, after change summit would still let the Earth’s average temper- Superstorm Sandy. ature increase by 6 degrees Fahrenheit. To say a 6-degree jump would drastically affect the planet would be an under- Tstatement. The last time temperatures were 2 to 5 degrees higher than now, between 130,000 and 115,000 years ago, sea levels rose by 20 feet. Much of New York would be submerged. Those few degrees would change our world and life as we know it. And it would be irreversible. Some of the warming that humans have caused is already baked in for the next few millennia. But scientists say we still have a chance to avert disaster by limiting the temperature gain to 3.6 degrees. The window, though, is small and closing fast. It will shut when the feedback loops become unbreakable. To name one: As the massive ice sheets melt, they reflect less sunlight back into space, temperatures rise faster, melting accelerates, and so on. apartments. Seal every drafty window. Give every household a smart The way things are going, we are not going to make it. We have to do meter—and an electric bill. Phase out oil heat and old boilers. Put solar something different.
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