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INSIDE NEXT TOP STORIES WEEK How 3-D printers GREENING are reshaping NY NEW YORK Will the jobs be in manufacturing ® PAGE 3 solar? Maybe not

VOL. XXVIII, NO. 8 WWW.CRAINSNEWYORK.COM FEBRUARY 20-26, 2012 PRICE: $3.00 An insurer reels from Linsanity fixed a cable dispute, market and that’s not all PAGE 3 beating Technology stars at Fashion Week Capital-poor SBLI PAGE 2 seen by some experts Genting gamble on as potential candidate convention center for state takeover off to rough start BY AARON ELSTEIN PAGE 2 About 35 years ago, Richard Hoffman stopped by his local bank and bought some life insurance from a company that for decades had served New York- ers of modest means. The policy from SBLI USA Mutual Life Insurance Co. wasn’t big at just $15,000, but the price—$18 a month—was right. “I thought SBLI was one of the greatest companies in the world,” said Mr. Hoffman, an accountant now in his mid-60s.“It was based on this won- derful idea that you shouldn’t have to BUSINESS LIVES be rich to afford life insurance.” Today, SBLI is gasping for air. It is paying dearly for investing its policy- GOTHAM GIGS See SBLI on Page 20 Drinking with Eataly’s wine director P. 25 ● ANNE FISHER Playing Cupid pays off for entrepreneur P. 25 B&N bans ● MOVERS & SHAKERS

Beth Ellard is sweet istock photo P. 26 LAND RUSH on DailyCandy Amazon ● GAEL GREENE A North End Grilling P. 27 Developers return to ground, bulk up on Publishing INDEX building sites as economy begins to turn Chain shuts out REAL ESTATE DEALS ______5 meatpacking district. e-tailer’s books, THE INSIDER ______8 BY THERESA AGOVINO “I was very happy because it was quite an effort,” hurting new effort NEIGHBORHOOD JOURNAL ______9 said Mr. Sitt. “We see tremendous upside for retail,

OPINION ______11 Feverishly working to wrap up two deals during residential and hotel [projects] in the city.” Thanksgiving weekend, developer Joseph Sitt bare- Clearly, others share Mr. Sitt’s sentiments. Sales BY MATTHEW FLAMM SMALL BUSINESS ______12 ly had time to sit down for dinner with his family. of development sites in Manhattan below Harlem CLASSIFIEDS ______18 But by the following Tuesday, Thor Equities’ have skyrocketed during the past two years.The rise A major new publishing imprint will HOT JOBS ______25 chief executive had much to be grateful for.That day comes amid growing optimism about long-term be starting business this fall with a EXECUTIVE MOVES ______25 he signed contracts to buy two Manhattan develop- prospects for the city’s economy, its booming debut list of big-ticket books, includ-

THE WEEK AHEAD ______27 ment sites, one on Fifth Avenue and West 43rd tourism industry, its strengthening residential mar- ing the memoir My Mother Was Nuts, Street, and the other on Washington Street in the See DEVELOPERS on Page 22 by actress-turned-director Penny Marshall, and The 4-Hour Chef, by bestselling lifestyle guru Timothy Fer- TWO NEW CRAIN’S LISTS riss. And these titles from Manhat- tan-based Amazon Publishing will FIRMS P. 16 likely arrive with all the marketing firepower available to parent compa- PRIVATE EQUITY FIRMS P. 17 ny Amazon.com Inc. There are, however, some things NEWSPAPER PLUS: Oh, to be the next Facebook P. 13 See B&N on Page 22 20120220-NEWS--0002,0003-NAT-CCI-CN_-- 2/17/2012 6:41 PM Page 1

IN BRIEF TWO TREES MANAGEMENT CO. STARTED THE Designers go high-tech FIRST PHASE OF A MULTIMILLION-DOLLAR renovation of 50 W. 23rd St. that will include adding new lighting and recladding the walls and floor of the lobby in white fiberglass-reinforced concrete. The 13-story to distinguish their looks building, the first Manhattan office property for the Brooklyn-focused developer, is in the Ladies’ Mile Historic District, so any week. Analysts are predicting a 6.8% rev- changes to its exterior must be approved by Growing use of enue rise. the Landmarks Preservation Commission. Meanwhile, computer technology is Two Trees Management expects to soon computer-generated helping designers create patterns and present plans to add glass canopies and glass prints that are more unique and complex— cladding to the exterior walls. It is prints helps to and less easy to replicate. Animals, hands anticipated that the initial phase of the and puzzle pieces took designs to the next renovation will cost $3 million. counter copycats level on the catwalks of Diane von FULL HOUSE UNEMPLOYMENT IN THE CITY HAS RISEN IN Furstenberg and Pe- THE PAST YEAR, AND MOST MAJOR PORTS BY ADRIANNE PASQUARELLI ter Som. nationwide have had flat or declining volume. Of course, not 232K But the Port of New York and Science played a starring role on the run- everything was novel ATTENDEES moved a record amount of goods last year— way last week. Designers are trading in and original in the fall at Fashion Week 5.5 million 20-foot-long shipping containers their cotton and silk for rubber and 2012 lineups. Color- annually filled with imports from around the world. polyurethane. At New York Fashion blocking, menswear- Source: Bloomberg administration The 4% increase, announced last week, Week, the catwalks were awash with gar- inspired looks and surpassed the record set in 2007, just before ments made from new fabrics such as ’20s-style glamour- the start of the global downturn. Officials at rubber-coated polyurethane or laminated girl sequins have all appeared in previous the Port Authority of New York and New tweeds. seasons,and the trends evolved further last Jersey said the increase showed the ability of “We have to have textile innovation in week as designers played it safe.

the port, the country’s third largest but the order to make fashion look fresh,” said larry ford biggest on the East Coast, to compete as a Catherine Moellering,executive vice pres- Runway versus mass market cargo destination. Ⅲ ident at trend forecasting firm Tobe Re- But experts warn that designers need to port. “Designers are finally getting the widen the gap between their runway looks memo.” and mass-market collections if they want BY THE NUMBERS To gain an edge, many designers are to entice high-end shoppers.Even the rich turning to industrial materials to create are now accustomed to buying designer la- Weekly shift of the city’s economy trendy apparel like pencil skirts and turtle- bels at discount prices. British “It” girl necks.The majority of the textiles featured Alexa Chung, for example, was recently ABOUT-FACE Talk of President Obama’s in the runway shows of design houses Tibi photographed for Vogue’s “steal of the prospects being buoyed by the economy is the latest sign of mounting optimism amid falling and Alexander Wang, for example, were month” section wearing a dress from Jason jobless claims and rising housing starts. new scientific creations. Such innovative Wu’s capsule collection for Target. materials, though more costly, allow fash- “The consumer is a lot savvier,” said ion houses to gain an edge over mass- Maren Hartman, East Coast content di- 29 8.8% 231K market players like Target, which are at- rector at fashion consultancy WGSN. PRODUCT INCREASE in NEW YORK JOBS tracting shoppers with their lower-priced “The trick is protecting your core business recalls by tourists to lower created by MIT designer collections. while still appealing to the masses.” Johnson & Manhattan alumni Designer Ronson uses high- Johnson since between 2010 Source: Kauffman Playing with textures end fabrics for her namesake collection to September 2009 and 2011 Foundation Source: Downtown “One of the biggest trends this week has make it more sophisticated than the lower- Alliance been about this eclectic mix of playing with priced I Heart Ronson line she makes for textures and different fabrications and lay- J.C. Penney. “I Heart Ronson is more ca- RAISING THE ROOF Residential building permits in have zigzagged upward since the summer in ering them in a sophisticated way,” said MIX AND MATCH: Design house The Row sual and a little more for day,” said Ms. terms of number and cost. Colleen Sherin, senior fashion director at combines lighter fabrics, like chiffon, with heavier Ronson. Saks Fifth Avenue, whose parent, Saks ones, such as fur, for its fall collection. Sophistication and luxury are also key 1000 Inc., will report quarterly earnings this See HIGH-TECH DESIGNERS on Page 22

800 971 600 400 Unhappy exhibitors grill Genting o 200 July ’11 Aug. Sept. Oct. Nov. Dec. Source: U.S. Census Bureau week at the InterContinental New York for legislation, which the governor sup- Trade show industry Barclay Hotel,sponsored by the Center for ports, to legalize live gaming in New York. ADDICTED TO NUMBERS? feels left out of Exhibition Industry Research. These closed-door negotiations,howev- GET A DAILY DOSE AT @STATSANDTHECITY “This is my first approach to you folks,” er,have not endeared Genting—or the gov- discussions over a new said Christian Goode, senior vice presi- ernor,for that matter—to the trade show in- CORRECTIONS Queens center dent of development for Genting. “This dustry, which feels left out of discussions When all phases of Hunter’s Point South in Long Island City, project got fast-tracked by New York state, that directly affect its future. Queens, are complete, it will have a total of 5,000 units, a and I apologize we are reaching out “I hope that things are done the minimum of 60% of which will be affordable. This fact was BY LISA FICKENSCHER at this forum for the first time.” right way and not for the sake of misstated in the Feb. 13 article “Housing’s new star.” Genting had been in discussions $1B gambling or for politics,” Ken L+M Development Partners’ project with the Harlem Genting Americas is off to a rocky start since November with the governor, ECONOMIC McAvoy, senior vice president of Congregations for Community Improvement is in Manhattan. with the trade show industry—the poten- who asked the company to acceler- benefit to the Reed Exhibitions, said to Mr. Phipps Houses’ $125 million East Harlem complex is called tial clients of the gigantic $4 billion con- ate its development plans. Mr. city from the Goode. Hobbs Court and Ciena, and has 340 units. Those facts were Javits Center misstated in the Feb. 13 article “Three developers on the job.” vention center the company hopes to build Goode conceded that Genting was Reed produced 500 events last in Ozone Park, Queens. pushed two years ahead of its own year in 39 countries, including the vol. xxviii, no. 8, february 20, 2012—Crain’s New York Business (issn Nearly eight weeks after Gov. Andrew internal timeline for the project, which also annual New York Comic Con and Interna- 8756-789x) is published weekly, except for double issues the weeks of July Fourth, Labor Day and Christmas, by Crain Communications Cuomo threw his support behind Genting’s includes building 3,000 hotel rooms and tional Restaurant & Foodservice Show at Inc., 711 Third Ave., New York, NY 10017. Periodicals postage paid at project,the Malaysian firm is just now court- other amenities next to the Aqueduct racino the Javits Center. New York, N.Y., and additional mailing offices. Postmaster: Send ing the businesses that produce the large it opened three months ago. Mr. McAvoy was more pointed in his address changes to: Crain’s New York Business, Circulation Department, 1155 Gratiot Avenue, Detroit, MI 48207-2912. for subscriber serv- trade shows that would fill up the 3.8 mil- In return for building a convention cen- comments on the Aqueduct project: “I’m ice: Call (877) 824-9379. Fax (313) 446-6777.$3.00 a copy, $99.95 one lion-square-foot center, which would be the ter—at no cost to the public—Genting has not sure the location is correct or the size is year, $179.95 two years. (GST No. 13676-0444-RT) ©Entire contents copyright 2012 by Crain Communications Inc. largest of its kind in the country. asked the state to give it exclusive gaming correct.” All rights reserved. More than 100 executives came to hear rights to prevent other developers from Others expressed concern about what Genting had to say at a meeting last building casinos nearby. It is also pushing Genting’s motives for building the con-

2 | Crain’s New York Business | February 20, 2012 20120220-NEWS--0002,0003-NAT-CCI-CN_-- 2/17/2012 6:41 PM Page 2 newscom BY THE NUMBERS JEREMY LIN rose from obscurity this month to lead the struggling New York Knicks on an unfathomable winning streak, inspiring MSG Networks and Time Warner Cable to resolve a dispute that had infuriated INNOVATOR: Bre Pettis’ viewers. But that’s far from the only impact he’s had. company, Makerbot, enables DIY prototypes. #LINSANITY larry ford THE PHRASE took hold in the Twittersphere Feb. 4, when the unknown point guard first keyed a victory. Linsanity tweets totaled 8,000 when the team won its third straight 141,777 Manufacturing’s Feb. 8 and surpassed #LINSANITY TWEETS during 47,000 when he scored five Knicks wins from Feb. 8 38 points Feb. 10, through Feb. 15 SocialGuide.com reported. On Va-Lin-tine’s new dimension Day, they hit 55,000. Page views on the Knicks’ two official websites surged 454%, to 4 million, in six days. Quirky takes ideas from housewives, JERSEYS, BOYS, JERSEYS! Companies show BY JUDITH MESSINA high-school students, retired account- ants—you name it—designs them and re- SPORTING GOODS AND APPAREL store Modell’s has Taped to a wall in Quirky’s offices on West fines them,and annually brings 60 to mar- been overwhelmed by demand for Lin merchandise. how 3-D printing 28th Street—beyond the reception desk ket. The brainchild of 25-year-old Ben As of Feb. 16, the store had sold 50,000 units of Lin and the requisite bicycle rack—are some Kaufman, Quirky even has a Sundance paraphernalia, including T-shirts, may revive a 200 labels describing devices dreamed up Channel TV show. Its products line the jerseys and towels, and had by amateur inventors. They are only a shelves at name-brand stores such as Tar- 168,000 on order. “It’s like handful of the 1,500 submissions the firm get, Ace Hardware, OfficeMax and Bed Christmas in February,” said Mitchell beleaguered gets every week from tinkerers around the Bath & Beyond. Modell, chief executive of the 150- world, all of them hoping Quirky can turn “We’re a very nontypical startup,” said store chain. “We can’t take it out of sector in NYC their inventions into the next Wiffle ball. See 3-D on Page 7 the boxes fast enough.” Modell’s has hired printers in Brooklyn and New Jersey to supplement supplier Adidas. RPA,to pay off the remaining $750 million on the bonds issued by the Metropolitan EVERY DAY THEY’RE HUSTLE-LIN g on convention plans Transportation Authority to build the Javits Center more than two decades ago, while BETWEEN Feb. 14 and 15, another $500 million could be invested in the price of one autographed 14K vention center.“Where is [your] priority?” 70% and attracting some of the nation’s the James A.Farley Post Office at West 34th Jeremy Lin rookie card LINSANITY HIT EBAY asked Mark Schienberg, president of the premier shows. According to a Price- Street to create a smaller meetings facility. increased tenfold, to $1,000, like an avalanche, with Greater New York Automobile Dealers waterhouseCoopers report, events at Jav- The RPA estimates it will take two years according to Beckett 14,000 Lin items for Association, which produces the annual its generated $950 million in direct spend- to work out the details of the governor’s Media. sale on Friday. New York International Auto Show at ing in the city in 2009. plan, including the Aqueduct portion. Javits. Everyone talks about how no pub- The governor’s broad proposal suggests In the meantime, the trade show indus- FINDING RELIGION, DRINKS lic money is being used to build the con- that the Aqueduct facility would attract try does not support eliminating the Javits vention center, he added, but “this indus- mega-events and international shows and Center, particularly as an ongoing $463 MR. LIN frequently credits God, which has lifted try is at risk if it doesn’t work out.” would not compete with Javits. million renovation improves the building. religious Asian-Americans. “People have been talking He and the others in the room expressed “We’d like to see Javits carry on as long about him at church, and the power of their strong opposition to the governor’s A governor-driven agenda as it can,” said Mr. McAvoy. “What we what we believe,” said a member of plan to tear down the Javits Center in order The idea to tear down Javits was first need is a venue in addition to Javits.” the New York Chinese Alliance Church to free up land on the far West Side of Man- proposed several years ago by the Region- In the meantime, Mr. Goode said, he on Eldridge Street. “We are happy that hattan for mixed-use development. al Plan Association,an independent urban will be reaching out to the community to someone is standing up for that.” They are concerned about whether research and advocacy group. Even the give the trade show industry a voice in the shows will be displaced if the Javits Cen- RPA was caught off guard by how swiftly design of the Aqueduct project. OF COURSE, Lin fans have been flocking ter is eliminated and its replacement is not Mr. Cuomo wants to move. “We didn’t start out with the idea to to bars, not church, to watch. “Each completed in time, or even if it will be ad- “The governor is driving this agenda,” build the largest convention center,” said game there’s been a bigger crowd,” said equate for their needs. Despite its flaws, said Robert Yaro, president of the RPA. Mr. Goode. “That wasn’t our goal.” It will Keith Benjamin, manager of the Stumble the Javits Center works well for the indus- “We were all a little bit surprised and are be at least a year,he added,before Genting Inn on the Upper East Side. “Valentine’s try,accommodating mostly small to medi- playing catch-up.” will have a design plan. Ⅲ Day is not one of the biggest nights for um-sized shows.It is among the most suc- The RPA maintains that the real estate the bar business, but fans were begging us to put the cessful convention centers in the country, Javits occupies is worth at least $4 billion. LISTEN to a discussion at sound on. Everyone was here to watch the game.” enjoying an occupancy rate of more than That money could be used,according to the CrainsNewYork.com/podcasts

February 20, 2012 | Crain’s New York Business | 3 20120220-NEWS--0004-NAT-CCI-CN_-- 2/17/2012 5:54 PM Page 1

IN THE MARKETS by Aaron Elstein

GROW. WISELY.

Everyone wants to grow. But grow how? In which markets? At what cost? To grow wisely, you need an advisor who really knows your business...and knows you. Who can deliver tailored solutions that create opportunities, maximize efficiency and build business. Charles Weinstein

Chief Executive Officer bloomberg news EisnerAmper is that advisor. We roll up our sleeves 212.949.8700 to get to the bottom of your toughest challenges so [email protected] New York’s blocked exchange you get the advice and strategies you need to create Howard Cohen sustainable growth. Chairman t this point, Duncan Niederauer needs to make a deal. 732.287.1000 And almost any deal will do.The New York Stock Let’s get down to business.TM [email protected] A Exchange CEO is wooing the London Metal Exchange www.eisneramper.com after regulators in Europe deep-sixed his proposed merger with Deutsche Börse earlier this month. The LME is the top EisnerAmper LLP futures market for industrial metals such as copper and zinc, Accountants & Advisors so it certainly would be a prize for Mr. Niederauer, and there are savings to be had from combining operations with the NEW YORK | NEW JERSEY | PENNSYLVANIA | CAYMAN ISLANDS Independent Member of PKF International NYSE’s London International Financial Futures and Options Exchange. Bidding reportedly has started at 1 billion pounds.

Trouble is, Mr. Niederauer is share is shrinking. Its share of U.S. poorly positioned to win the bid- stock trading recently fell to a record ding war that is already emerging. low 24%. The decline, going on for The Chicago Mercantile Exchange and many years now, is a big reason why the Intercontinental Exchange are also Mr. Niederauer wanted to team up said to be vying for the metals mart. with Deutsche Börse. It’s also why And both of these futures exchanges shares in his exchange’s parent, NYSE bring greater heft to the table: The Euronext,have fallen around 17% over Chicago exchange group’s market the past 12 months, triple the rate of value is $19 billion, more than dou- decline in the Bloomberg World Ex- ble the NYSE’s $7.6 billion, while changes Index. the ICE is valued at $10 billion. The NYSE remains the premier Based on last week’s share prices, name in the exchange world, of investors are paying around $16 for course. Proof of that came when the each dollar of earnings generated by much-larger Deutsche Börse agreed the CME and the ICE, while the last year to make Mr. Niederauer NYSE’s price-to-earnings multiple CEO of the combined company and is only 11.That price/earnings gap is keep its headquarters in New York. largely explained by the fact that the But unless Mr. Niederauer can do NYSE’s bedrock business of stock something to perk up his business trading is much less profitable than quickly,the next time a merger part- futures trading. ner comes calling, he won’t be in a In addition, the NYSE’s market position to dictate the terms. The end, it seems, of Ron vs. Don The bitter fight between Ronald Perel- with at the trial, it seems likely that man and Donald Drapkin is at last over. Mr. Drapkin is walking away with The former close friends and more than the amount awarded by partners at Mr. Perelman’s conglom- the jury. An attorney for Mr. Drap- erate, MacAndrews & Forbes, went to kin wouldn’t comment, beyond stat- trial last month after Mr. Drapkin ing that all disputes between the par- sued for $16 million in unpaid com- ties are now resolved. pensation. Mr. Perelman’s side ar- Mr. Perelman extracted one big gued that Mr. Drapkin stole confi- concession from his former partner. dential information and wasn’t owed The settlement declares: “The par- a cent. It took a jury about an hour to ties agree there was a substantive er- rule that Mr. Drapkin deserved the ror in the Judgment and that the $16 million. Judgment should be vacated.” Last week, the par- So, should anyone ask Mr. ties said they Perelman about this episode, reached a set- he can say he got his ad- tlement. Terms versary to agree that weren’t dis- the jurors made a mis- closed, but since take and to have there was other their verdict wiped litigation between off the books.That the two that is certainly one type Ⅲ wasn’t dealt of vindication. harperfred

4 | Crain’s New York Business | February 20, 2012 20120220-NEWS--0005-NAT-CCI-CN_-- 2/16/2012 3:42 PM Page 1

REAL ESTATE DEALS Icahn ponies up at the GM Building

pocketed tenants make their money. only two years. Corporate raider As the latest proof of that state- Sources weren’t sure if the abbre- renews his lease ment, famed corporate raider Carl viated length meant that Mr. Icahn pasquarelli adrianne Icahn has just renewed his lease for believes rents were falling or that STYLISH GAINS but hedges his bets 25,000 square feet on the 47th floor the Wall Street mogul, who is in his of the General Motors Building, where mid-70s, might be considering ye-popping views of the asking rent was $178 a square slowing down. Neither Mr. Icahn Central Park are still foot,sources familiar with the trans- nor a representative from building $40M commanding eye- action said. owner Boston Properties returned a Economic impact of Fashion popping rents, despite The only thing small about the call for comment. Week on businesses within a declines in the leasing deal was its term. Mr. Icahn re- Each side represented itself in 10-block radius of Lincoln Center market and the high-finance indus- newed his lease on the space, which the transaction. Source: Fordham University

bloomberg news E try, where the city’s deepest- is nearly two-thirds of the floor, for —theresa agovino

Post office casts off from Peck Slip The U.S. Postal Service is replacing its longtime downtown outpost on Peck Slip with a smaller, 3,500- square-foot storefront four blocks south at 116 John St. The asking rent on the 10-year lease was $100 per Strong. Global. Growing. square foot. Winick Realty Group’s Annie Shinn represented the USPS, while Just a few words that should Darrell Rubens,also of Winick,rep- resented building owner Metro define your financial partner. Loft Management. The USPS should be moved in by summer. Its former block-long quarters will likely be redeveloped into a school. “It seems like they’ve been open- ing smaller and more locations in lower Manhattan,”Mr.Rubens said, noting that the increasing number of residents and high pedestrian traffic in the area should help make the John Street location a success. —ali elkin A deal too good to pass up Quilvest,a wealth management and private equity firm, just inked a deal for 8,600 square feet at 527 Madison Ave.The 10-year lease brings the 25- year-old tower to full occupancy. The asking rent for the transac- tion, which covers the entire 11th floor, was $76 a square foot. The company was drawn to the space because the landlord was will- ing to invest a significant amount to outfit it, said Alan Desino, the bro- ker at Colliers International who You want a financial ally with a powerful grasp of the national and international marketplace. With Union Bank®, you’ll have the represented Quil- expertise and solutions you need to expand your business on a global scale. Our relationship managers can help you streamline vest. He noted that Quilvest ini- operations with everything from global treasury management solutions to foreign exchange. And through our relationship with tially wanted to be Mitsubishi UFJ Financial Group, you’ll have access to local experts in over 40 countries. That’s the definition of a strong global partner. farther north. Its current home is at 598 Madison With Union Bank, the world can be an easy place to do business. Call us today. Ave., which is at Corporate & Institutional Treasury Services: Fund Finance: Commercial Finance: East 57th Street, Marla Feldman Terence Hatton Richard K. Stang but the terms on Vice President Senior Vice President Senior Vice President offer down the 914-273-0351 646-452-2113 646-452-2522 avenue were so at- tractive that the tenant couldn’t resist. Mr. Desino said Quilvest plans to move in by June. ©2012 Union Bank, N.A. James Frederick and Peter Oc- Union Bank is a proud member of the Mitsubishi UFJ Financial Group (MUFG), chi of Cassidy Turley represented one of the world’s largest financial organizations. Financing subject to credit the landlord, Mitsui Fudosan and collateral approval. unionbank.com America. —theresa agovino

February 20, 2012 | Crain’s New York Business | 5 20120220-NEWS--0006-NAT-CCI-CN_-- 2/17/2012 3:23 PM Page 1

CRAIN’S Business Breakfast Forum Meet NEW YORK,NEW YORK CASWELL edited by Valerie Block HOLLOWAY DEPUTY MAYOR FOR OPERATIONS Will Smash perform for NBC? Join Crain’s New York Business for a DATE: he suits at NBCUniversal are sure to be paying close attention this week to Smash—particularly its ratings—as the Steven Spielberg-produced Broadway- discussion with TUESDAY T Deputy Mayor for MARCH 20, 2012 musical melodrama goes into its third episode. This one could decide whether Operations Caswell Smash lives up to its name or falls short. ¶ The Glee knockoff, starring Anjelica Huston Holloway. Mr. Holloway TIME: and Katharine McPhee (below), premiered on a high note the Monday after the Super will discuss his goals 8:00-8:30 AM Bowl. Along with The Voice, it seemed poised to give NBC’s long-troubled prime-time he would like to NETWORKING lineup something to sing about. In week two, the Smash audience shrank by 26%, to a 2.8 BREAKFAST accomplish in the final two years of the rating, in the all-important category of viewers 18 to 49 years Bloomberg administration, what steps the 8:30-9:30 AM old—but it still beat CBS’s Hawaii Five-O to help NBC win PROGRAM city is taking to prevent more massive cost Monday night. ¶ “Will there be another 25% falloff [this overruns at projects like CityTime and is the VENUE: week], or will it plateau?” asked Brad Adgate, senior vice city taking on too much debt to invest in HILTON NEW YORK president of research at Horizon Media. What happens infrastructure and other projects. He will be 1335 AVENUE now “is a very important factor.” ¶ NBC reportedly questioned by Crain’s assistant manager OF THE AMERICAS spent $7 million on the Smash pilot and editor Erik Engquist and another journalist. another $10 million to promote the show, and is coughing up $4 million an Sponsored By RESERVE YOUR SEAT episode—all in the hopes of developing a The www.crainsnewyork.com/events-cholloway second breakout hit, in addition to Voice, and finally getting out of the ratings Space is limited. Register Today. basement. ¶ The Peacock Network’s new owner, Comcast, isn’t raising expectations. A turnaround “is going to be a multiyear effort,” NBCUniversal CEO Stephen Burke said—not for the first time—on a conference call with analysts last week. —matthew flamm

million short of its $50 million truck operation, including recipes, Crain’s DiMenna Center goal. technology and staffing. If you First beats expectations —miriam kreinin souccar have a passion for burgers, fast Look: After Javits food and maintaining great The DiMenna Center for standards, you are our candidate,” Classical Music launched a year Russian food the ad states. Join Crain’s New York Business and Christian Goode, New York State’s ago with high expectations. It has Will blinis and borscht also be Steven Malanga, Mark Schienberg and Robert trucks ready to roll Governor Andrew beaten them. on the menu? The company did Yaro for a critical examination on whether Governor Cuomo has Cuomo’s plan to build a new convention center is Since it opened last March, A Russian restaurant not return calls for comment. feasible, how much it would cost, who would pay and proposed building more than 80 musical groups and conglomerate with two eateries in Over the past two years, Ginza how New York can succeed where so many other the nation’s largest 30 individual Manhattan is adding Project has opened the upscale cities are failing, as they struggle to deal with the convention center artists have some wheels to its Mari Vanna on East 20th Street, declining demand for conventions. at the Aqueduct rented out the operations here. which offers traditional Russian state-of-the-art Ginza Project, with fare, and French-American bistro Racetrack/Racino recording and 5,000 employees MPD, a celeb hangout for the and redeveloping rehearsal facility. mostly in Russia, is likes of American Idol’s Randy Javits to boost the It was built by seeking a chef to run a Jackson and actress Liv Tyler. (Last city’s economy. the Orchestra of new food truck week, Ginza became embroiled in St. Luke’s as its business, according to a lawsuit over management fees at Christian Goode Steven Malanga Mark Schienberg Robert Yaro What do you think? new home as well an ad posted on the meatpacking district hot spot.) as an affordable Culintro.com, a According to its website, space for the culinary trade group’s Ginza Project has plans to open DATE: TIME: PANELISTS: city’s classical musicians.The website. eight additional restaurants in the Thursday Networking Christian Goode bookings have brought in nearly $1 “The ideal candidate has city this year. March 1, 2012 Breakfast: Genting Americas, Senior VP 8:00am-8:30am million in earned income, just experience with building a food —lisa fickenscher VENUE: Steven Malanga Program: Manhattan Institute senior fellow, about covering expenses. The Essex House City Journal senior editor “We knew there was an 160 Central Park South 8:30am-9:30am Mark Schienberg enormous need for a place like EXHIBIT TO CELEBRATE WARHOL New York, NY 10019 President, Greater New York Automobile Dealers Association this,” said Katy Clark, executive COST TO ATTEND: director of St. Luke’s. “But the THE MARTIN LAWRENCE GALLERY will mark $80 for individual ticket(s) Robert Yaro the 25th anniversary of Andy Warhol’s $800 for table(s) of ten President, Regional Plan range of groups we’ve had has Limited Space. Register Today. Association been wider than we thought.” death with a grand exhibit, “The Aesthet- MODERATOR: Renters have ran the gamut ics of Cool.” On display will be 40 works Greg David from acclaimed pianist Emanuel Ax by the pop-art pioneer, as well as a large- TO PURCHASE TICKETS: Former Crain’s editor, Director/ Business Reporting Program/CUNY (above) to Mary-Kate and Ashley scale Roy Lichtenstein collage, original Go to www.crainsnewyork.com/events J School For more information, call the Olsen. Despite the space’s success, Keith Haring sumi ink drawings and Events Hotline at 212-210-0739. however, the orchestra still has a memorabilia. The show opens on Feb. 24

You must be pre-registered to attend this event. No refunds permitted. long way to go to complete its at 457 West Broadway and is expected to capital and endowment campaign run for two weeks. for the building. It is still $15

6 | Crain’s New York Business | February 20, 2012 20120220-NEWS--0007-NAT-CCI-CN_-- 2/17/2012 6:39 PM Page 1

now looking for facto- ry space in Brooklyn or 3-D printing: A new dimension in manufacturing Queens. It expects to double its 20-member Continued from Page 3 staff this year. In No- Mr.Kaufman,the chief executive and vember, Shapeways a three-time entrepreneur who raised $5 million in Se- launched his first company the day he ries A venture money graduated from high school. “We’re from Union Square creating jobs and making things.” Ventures and expects What makes a company like another $1.5 million

Quirky possible in Chelsea is not a larry ford from the New York factory floor half a mile long or tens COMING TO LIFE: A breadbox-sized printer can produce a half-dozen plastic chess pieces within two hours. CityInvestment Fund. of millions of dollars of machin- Last year, it fabricated ery—it farms out mass produc- 750,000 objects. tion—but a copier-sized printing er adjustable power strip, has sold offers a different approach: It uses gets a percentage of the sales. “Objects won’t be mass-produced machine that spits out full-blown nearly 190,000 units so far.Its inven- 3-D printing to create one-of-a-kind Founded in the Netherlands, but made according to people’s three-dimensional product proto- tors have earned $187,000 out of sev- products for inventors, many of Shapeways moved its headquarters needs,” said Shapeways CEO Peter types in a matter of hours.The tech- eral million dollars in sales. whom open shops on the Shapeways to New York to be closer to its biggest Weijmarshausen, 40. “That’s the fu- nology is transforming industries Another 3-D player, Shapeways, website to sell them. The company markets in the and is ture of manufacturing.” Ⅲ such as jewelry-making, medical devices and architecture. New York City, with its robust design trade, may be a natural home for 3-D printing. Indeed, the Bloomberg administration is betting that the technology will create new busi- nesses and help existing ones be in- novative and more competitive. “With 3-D printing, we will be able to onshore some of the manu- facturing that in the last couple of decades had been sent overseas or outside the city,”said New York City DOUBLE BUSINESS Economic Development Corp. President Seth Pinsky. “The num- ber of potential users is huge.” Expanding companies BANKING REWARDS The 3-D printing process is not new.It has been in use for years by au- WE DOUBLE DOG DARE YOU TO DO BETTER tomakers, aerospace companies and other large manufacturers. But re- NO OTHER BANK GIVES YOU MORE WAYS TO EARN DOUBLE REWARDS cent advances in technology have made smaller machines possible, the • Earn double miles for everyday banking through June 30, 2012 materials less toxic and the software with Small Business Rewards Checking. more user-friendly.While big, high- end machines can cost upwards of $1 • Earn by writing checks, withdrawing cash, paying bills online, and more. million, Makerbot, a 3-year-old • Sign up for a SparkSM Miles business credit card and company in Brooklyn that manufac- you’ll also earn double miles on purchases. tures 3-D printers, makes a machine the size of a breadbox. Sales of its • Earn 10,000 bonus miles when you open both together. Replicator, which costs $1,749, used • Visit a branch or morebusinessrewards.com today. to average 300 a year, but are now “going through the roof,” said com- pany CEO Bre Pettis,39,adding that he is looking for larger digs and ex- pects to expand his 75-person staff by 30 this year. Guided by computer-generated designs, 3-D printers extrude plas- tic from a nozzle to a heated surface, building up thousands of ultrathin layers to create an object, including some with moving parts. While plastic is the most commonly used material, ceramics, metal and glass are increasingly being used. “Clearly,it allows people to make decisions very quickly,”said John Ja- cobsen, Quirky’s head engineer. “You can put something in front of someone.” Quirky has built a business mod- el on the technology’s singular abili- ty to refine and test a product rapid- ly and cheaply before committing to mass production. It also “crowd- sources” suggestions to improve de- signs from among its 160,000 inven- tors and followers, who can earn money if their suggestions are used and the product actually goes to mar- ket. Promotion ends at 11:59 p.m. Eastern Time, June 30, 2012. Offer valid for new banking and Spark Miles customers only. To receive bonus miles, you must open a Small Business Rewards Checking account and obtain a Spark credit card by June 30, 2012. Double miles and bonus miles require an open account at the time of the award As for the inventors,they get roy- and will be awarded within 6-8 weeks after the promotional period ends for every qualifying transaction which occurred during the promotional period. Minimum opening deposit alties; Quirky gets the patent and may be required. Transaction and monthly rewards limits apply to checking. Limit one Small Business Rewards Checking and Spark Miles account per customer. Visit a branch profits from selling the items.Its rev- for complete details. More ways claim based on Web sites of top 10 U.S. banks in deposits as of 01/23/12. Offered by Capital One, N.A., member FDIC. © 2012 Capital One. All rights reserved. enues last year topped $6 million and it expects to turn profitable this year. Its best seller, the $29.99 Pivot Pow-

February 20, 2012 | Crain’s New York Business | 7 20120220-NEWS--0008-NAT-CCI-CN_-- 2/17/2012 6:35 PM Page 1

state-of-the-art transportation system and quality-of-life issues that affect all of us.” Mr. Lhota had told The New THE INSIDER York Times that he opposed Mr. Perkins’ ban because children eat by Jeremy Smerd and Shane Dixon Kavanaugh breakfast on the trains: “It severely hurts and impacts minority communities. I don’t want to deny the kid the only time that day he’s going to get food.” Rats! Pol, MTA Mr. Lhota quickly apologized for saying Mr. Perkins “does nothing but talk and talk and talk.” “This is not an issue to lose it vexed over vermin over; it’s not about their funding,” said Gene Russianoff, attorney for the Straphangers Campaign. “The last bloomberg news oseph Lhota’s apology thing he wants to do is tick off BRIDGE TOO FAR Price-tag puzzle last week for people in Albany.” Mr. Perkins said he’s open to ADVOCATES FOR INCLUDING special bus lanes on a new Tappan Zee Bridge disparaging state Sen. better ideas to control rats but continue to question the Cuomo administration’s explanation of why the Bill Perkins wasn’t added, “If you feed them, you breed lanes are unaffordable. Jenough for the Harlem them.They’re not growing food in The administration has said it cannot entertain such luxuries when it has a Democrat, who chided the stations.They’re not farmers.” $16.8 billion shortfall in funding to maintain roads and bridges in the city and the Metropolitan lower Hudson region, excluding the Tappan Zee project. Passing up But the Tri-State Transportation Campaign puts that figure in context: Transportation Authority istockphoto The shortfall stems from estimates that $986.3 billion is needed and chief for patronage $969.5 billion is available over the next 25 years. “If New York can find money for a bridge,” the group blogged, “it can find citing minorities as an argument against Gov. Andrew Cuomo has not doled banning food on the subway. money for a bridge with transit.” out patronage jobs at the Port The state hasn’t told the group why it projects the cost of a bus Mr. Perkins said Mr. Lhota shouldn’t have Authority, unlike Gov. Chris Christie, component to be as much as $5.3 billion, compared with an earlier $1 billion claimed minority communities would be whose 50 hires at the agency have projection that Tri-State transit wonks called inflated to begin with. included campaign donors, Inexplicably, the state now says commuter rail service would be cheaper particularly hurt by the ban because, in Mr. Republican operatives and friends Perkins than the bus option. Typically, rail projects are several times more expensive. Perkins’ eyes, it implied that they are of friends. Mr. Cuomo has recruited only At press time, the state Department of Transportation referred a week-old disproportionately responsible for the rat inquiry to the New York State Thruway Authority. problem. Executive Director Patrick Foye (salary: $289,667) and four others “I think he should apologize,” Mr. Perkins to the Port: Brian Simon ($180,024), said. “I don’t know why race had to be brought a former aide to Sen. Kirsten Brett Abramson, an attorney selling healthful food in poor into this debate about legislation. I can Gillibrand, to be director of ($62,088); and John Liantonio neighborhoods. understand how he disagrees with me and my government and community ($98,020), who was hired last FreshDirect said it would try to Lhota relations; Gary Goldman ($125,008), month. expand its service when it relocates style. But this is not about race.This is about a who works in the real estate arm; to the Bronx but will get its Capital-gains subsidies regardless. revenue games The Russians State GOP Chairman Edward Cox are coming! argued in an op-ed last week, “The federal record demonstrates that When it comes to opening a ACCOUNTABILITYWITHOUT tax revenues rise as capital gains tax Walmart here, “let the marketplace rates are cut.” Data do show decide,” Mayor that investors respond by Michael Bloomberg said QUESTION selling appreciated assets, in 2010. “The [fall of ACCOUNTABILITYWITHOUT boosting tax revenue. But the] Soviet Union is once the pent-up gains are as good an example as QUESTION taken, regular activity you’d ever need.” resumes and tax revenues fall Yet he has stood because the rates are lower. behind his Planning Both start-up and established funds benefit from Rothstein Kass’ highly specialized teams Some studies show the long- Department’s proposal to limit most that have extensive knowledge and experience in the alternative asset industry. Our goal is to term result of capital gains tax cuts new and expanding retail chains on not only provide audit and tax services, but to act as a sounding board on issues impacting is less revenue. Profit-taking is also the Upper West Side. your business. curbed as investors wait for a rate Said the mayor, “You don’t want cut. And the discrepancy between just unchecked growth everyplace Rothstein Kass provides audit, tax and consulting services for venture capital funds, private tax rates on income and capital because what will happen is some equity funds, hedge funds, fund of funds, broker-dealers and registered investment advisors. gains encourages manipulation by things will get squeezed out that We’ve served the financial services industry for over 30 years and are consistently ranked accountants.The rates were you really want.” as a top accounting services provider, which is a reflection of our technical acumen and our equalized for a time by President commitment to client service. Our affiliate, Rothstein Kass Business Advisory ServicesSM, helps Ronald Reagan at 28%. Recycler wanted clients to resolve issues, optimize opportunities, and identify and realize their strategic vision. The Department of Sanitation To learn more about how we can help you, visit us at rkco.com. FreshDirect’s has created the new post of deputy super deal commissioner of sustainability and is accepting applications. The AUDIT TAX ADVISORY Supermarkets see FreshDirect as a new hire—tasked with delivering Beverly Hills competitor, but the online grocer is on the mayor’s pledge last month Dallas classified as an industrial company, to get New Yorkers to recycle Denver qualifying it for $128 million in city substantially more of their Grand Cayman New York and state subsidies. waste—will oversee a staff of 29 Roseland Supermarkets do not get and an operating budget of $30 San Francisco subsidies unless they are part of the million, and will earn as much as Walnut Creek city’s FRESH program for retailers $195,590. Ⅲ www.rkco.com For daily political and government news, subscribe to CRAIN’S INSIDER @ www.crainsnewyork.com/insider

8 | Crain’s New York Business | February 20, 2012 20120220-NEWS--0009-NAT-CCI-CN_-- 2/16/2012 3:44 PM Page 1

NEIGHBORHOOD JOURNAL

nation’s mail.” Area tries to stamp out postal move Closing the Queens facility is ex- pected to save $13 million in labor costs alone.That claim,however,has of the 260 workers he represents fre- generated widespread criticism be- College Point quent the shopping mall across the cause under union contracts, work- residents address street from the facility. ers at the center are protected from “The guys who work out here own layoffs, so it’s unclear where the sav- P.O. plans to send homes in Queens and spend a lot of ings would come from, according to money in the community,” he said. Messrs. Stuart and Larkin. facility to Brooklyn Opponents also argue that clos- ing a facility with such easy access to ‘Haphazard’ study BY AMANDA FUNG major expressways and bridges will To date, only a few figures from be a big loss. What’s more, they the study have been publicly dis- wo months after the U.S. claim,the Brooklyn facility lacks the closed. Elected officials led by Ms. Postal Service an- DELIVERING A capacity to handle the additional Stavisky are trying to get their hands nounced that it would MESSAGE: Critics mail from College Point. on the full report. The goal is to close a huge mail pro- say losing the facility “Brooklyn is already backed up prove that the Postal Service’s initial will affect local cessing center in College businesses. for hours at a time because they can’t analysis to close the College Point Point, Queens, community leaders get trucks in and out of the facility facility was flawed.

T stavisky toby senator of office and elected officials are refusing to there,” said Mr. Stuart. As a result, “We felt the study was very hap- give up the fight to block the move. he predicts that mail flows in and hazard and erroneous,” said Mr. And with good reason. At stake to save money in the long run,” said hundreds of thousands of Queens out of Queens will slow down, en- Stuart. Ms. Stavisky noted in her is a 455,000-square-foot facility Ms.Stavisky.“In fact,it will damage residents and businesses. Some also dangering the two- to three-day Feb. 9 letter to the Postal Service’s next to the Whitestone Expressway the local economy.” fear that area retail establishments standard delivery that the Postal general counsel that releasing more that opened more than 20 years ago So far, though, the USPS is not will suffer. Service promises. information on the study could, in and employs nearly 1,000 mail han- backing down. The huge, loss- “These are local residents work- “It could take up to a good week fact, help the post office. dlers, clerks, maintenance workers making agency calculates that clos- ing at the center,” said Ms. Stavisky. under the new scenario,” said The good news is that the com- and truck drivers. ing the center and consolidating its “When they come to work, they pa- Stephen Larkin, vice president of munity still has a few more months A number of officials, including operations into one in East New tronize the local restaurants, con- the local chapter of the American to make its case. In a small victory, Democratic Rep. Gary Ackerman, York, Brooklyn, would save $30.8 venience stores and use the local gas Postal Workers Union. the Postal Service agreed in Decem- have sent letters of protest and ral- million annually, and that the move stations.” A spokeswoman for the Postal ber to hold off closing the facility lied against the Postal Service’s de- is further justified by the continuing Service insists that it is still commit- until at least May 15. cision. In addition, Democratic decline in first-class mail volume. Economic loss ted to providing the best service,but “We are hoping that ultimately state Sen. Toby Ann Stavisky has Opponents argue that the Postal Trevor Stuart, president of the notes it must also “continually im- the closure will be prevented, but collected more than 350 signatures Service’s calculations are exaggerat- local Mail Handlers Union, who prove efficiency by making better until something comes down in on an online petition. ed. They warn that the move would lives a two-minute drive away, con- use of space, staffing, equipment writing, we tell everyone not to get “Closing the facility is not going just result in diminished service to firms that. He points out that many and transportation in processing the too confident,” said Mr. Larkin. Ⅲ

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February 20, 2012 | Crain’s New York Business | 9 20120220-NEWS--0010-NAT-CCI-CN_-- 2/17/2012 2:26 PM Page 1

VIEWPOINT Was FreshDirect deal worth it? editor in chief Rance Crain publisher, vp Jill R. Kaplan

he trickiest task in city government may job to have FreshDirect base its expanding operation in a EDITORIAL be negotiating economic development woefully poor Bronx neighborhood. editor Xana Antunes deals with companies that threaten to skip It is simple to show with economic models that the city managing editor Glenn Coleman deputy managing editors Valerie Block, town, as FreshDirect did when it outgrew will recoup its investment. FreshDirect’s employees will pay Erik Ipsen its Long Island City facility. Mayor taxes and generate economic activity that results in more tax assistant managing editor Erik Engquist Michael Bloomberg and his aides like to senior producer, projects Kira Bindrim revenue.They will require fewer social services and other senior producer, news Elisabeth Butler Cordova say that the way to lure and retain public assistance, saving the city money. And more than 80% contributing editor businesses is to provide an environment that is so attractive of the city’s subsidy is in the form of tax exemptions, Elaine Pofeldt columnists Greg David, Michael Gross, that companies feel they can’t afford not to be part of it: one meaning the city is giving up revenue that it wouldn’t have Alair Townsend T Barbara Benson that’s safe, clean, imposes only reasonable regulations and had anyway had FreshDirect moved across the river. pulse editor senior reporters Theresa Agovino, has a modern infrastructure, a solid customer base and an The rub, of course, is that FreshDirect might not have Aaron Elstein, Lisa Fickenscher, Matthew Flamm, education system that produces skilled workers and a living moved. A New Jersey hub would have facilitated its westward Daniel Massey, Miriam Kreinin Souccar reporters Amanda Fung, Shane Dixon Kavanaugh, standard that keeps them here. expansion, but its customers today are mostly in the city, and Adrianne Pasquarelli, Jeremy Smerd But when New Jersey starts dangling $100 million servicing them from reporter/producer Emily Laermer subsidy offers, theory goes out the window and reality sets New Jersey would have art director Steven Krupinski Subsidies should deputy art director Carolyn McClain in.The question quickly becomes how much ransom been costly and staff photographer Buck Ennis taxpayers will have to pay to persuade businesses to stay.The be granted only unpredictable. In the copy desk chief Stephen Noveck Thaddeus Rutkowski amounts have varied during the Bloomberg administration, end, the Bloomberg copy editor with great research editor Dana Gordon depending on the circumstances. In the case of FreshDirect, administration believed assistant research editor Suzanne Panara research interns Callie Eidler, Helen Kwong the Bloomberg and Cuomo administrations decided the discretion FreshDirect was editorial intern Ali Elkin answer was $127.8 million. serious. It gives us some If FreshDirect increases its employee rolls by 50% to confidence that city EDITORIAL AND ADVERTISING OFFICES 711 Third Ave., New York, NY 10017-5806 3,000 as projected, the subsidy would amount to $43,000 per negotiators lose some editorial: 212.210.0277 Fax 212.210.0799 job—more than 10 times what the federal government battles to New Jersey; it advertising: 212.210.0711 Cable craincom nyk recently offered businesses to hire the long-term suggests they are not willing to pay any price. If they were, Fax 212.210.0499

unemployed. Yet it’s only a third as much as New Jersey applicants would flood City Hall with hats in hand. Entire contents ©copyright 2012 Crain coughed up when it gave Pearson Education $82 million to That said, the administration must be careful not to create Communications Inc. All rights reserved. ®CityBusiness is a registered trademark of MCP locate 600 jobs in Hoboken. an uneven playing field for business. Had FreshDirect left, a Inc., used under license agreement.

Bloomberg officials rightly consider New Jersey Gov. competitor might have risen in its place, eventually TO SUBSCRIBE: Chris Christie’s subsidy strategy to be reckless, but they are providing as many jobs without subsidies. FreshDirect’s deal For subscription information and delivery concerns, wise to realize that it is real.The impact of businesses gives it an advantage over rivals. Subsidies distort the please e-mail [email protected] or call 877-824-9379 (in the U.S. and Canada) or deserting the city is the same whether or not they are lost to marketplace and should be granted only with great 313-446-0450 (all other locations.) $3.00 a copy, a spendthrift neighbor. It may in fact be worth $43,000 per discretion.That seems to have happened in this case. $99.95 one year, $179.95 two years. www.crainsnewyork.com

ADVERTISING AND MARKETING advertising director Trish Henry senior account managers CRAIN’S ONLINE POLL Irene Bar-Am, Courtney McCombs, Sheryl Rose, Suzanne Wilson account executive Jill Bottomley Kunkes SHOULD PRESIDENT sales coordinator print & online OBAMA’S ‘BUFFETT RULE’ Danielle Wiener Minimum rage newsletter product manager Alexis Sinclair REPLACE THE ALTERNATIVE Todd J. Masura A MODEST PROPOSAL wealth gap of New York on the backs of credit 313.446.6097 MINIMUM TAX? director, audience development middle-class taxpayers. Michael O’Connor Re: your reader poll “Is the proposed $8.50 —ethan knox Date of poll: Feb. 14 event producer Courtney Williams minimum wage for New York too high or too 305 votes reprint sales manager Lauren Melesio low?” We have a level of income in the city that A BEEF WITH ALBANY Yes. A 30% senior web developer, interactive cannot cover basic living expenses—and then Chris O’Donnell minimum tax on we wonder why the poor need assistance? Re: “Gerrymandering a GOP majority” (The people earning . 77% Insider NEW YORK PRODUCTION $1 million is Here’s a solution: Eliminate the support , Jan. 30). Imagine entering a diner and fairer than the programs, the Section 8 housing subsidies, food ordering a cheeseburger, and the waiter brings production and pre-press director AMT, which is assistance, etc., so that everything is market rate. four plates. A plate with the actual burger is at Michael Corsi

now ensnaring Those making $8.50 an hour won’t be able to one corner of the table, the roll goes to another advertising production manager 23%. households survive given the cost of living, so they will corner, the melted cheese to another, and a slice Suzanne Fleischman Wies making six migrate out to lower-cost regions of the country. of onion is set at the fourth corner. Next, the PUBLISHED BY CRAIN COMMUNICATIONS INC. figures. Now the fun part: The truly free-market city waiter shakes a plastic bottle of and chairman Keith E. Crain No. It’s just a will have no minimum-wage employees left, squeezes out a thin trail connecting each plate. president Rance Crain higher-class and no one will be willing to spend the time or Forget the old “melting pot” or “salad” secretary Merrilee Crain version of the money to commute into New York, since the theories of population integration in this treasurer Mary Kay Crain AMT. places one can afford to live on an $8.50 wage nation: State lawmakers (encouraged by special- executive vp, operations William Morrow are nowhere near commuting distance.The interest groups) are cooking up new political senior vp, group publisher Gloria Scoby wealthy residents remaining will have to start district maps using this “un-hamburger” theory. group vp, technology, circulation, paying higher prices for goods and services to And they expect the public to buy it. manufacturing Robert C. Adams cover the cost of employees at a real living —ed jaworski vice president/production & manufacturing David Kamis wage—or get used to busing their own tables. chief information officer Paul Dalpiaz Or, as the demand plummets for fair- CRAIN’S WELCOMES SUBMISSIONS to its opinion G.D. Crain Jr. market-value real estate that was once pages. Send letters to [email protected]. founder (1885-1973) chairman Mrs. G.D. Crain Jr. (1911-1996) For this week’s questions: Go to subsidized, the high cost of city living will be Send columns of 475 words or fewer to www.crainsnewyork.com/poll to have your say. dragged down into the gutter. [email protected]. Please include the writer’s Either way, we will finally stop financing the name, company, address and telephone number.

10 | Crain’s New York Business | February 20, 2012 20120220-NEWS--0011-NAT-CCI-CN_-- 2/16/2012 6:35 PM Page 1

OPINION

nation’s largest convention center at the Aqueduct site in Queens are Aqueduct plan is such a win-win for New York.They will result in the nation’s largest convention and visitor center, gen- erating billions of dollars in revenue vital for New York and vastly increasing the capacity to expose U.S. products to the world at large. BY CHARLES H. JOHNSON IV Private investment led by the UPCOMING CRAIN’S EVENTS Genting Group will cover the $4 ith more than 50 million visitors last year billion price tag, addressing any Join Crain’s and leaders from New alone, New York City is the nation’s top concerns that taxpayer dollars York’s business community for a would be at risk. tourist destination.Yet when it comes to ac- Construction and operation of series of critical discussions commodating the hundreds of convention- the convention center would create impacting New York. eers clamoring to bring millions of business more than 10,000 direct new jobs in visitors to the Big Apple,New York has continued to post a “Do Queens and pave the way for the Crain’s First Look: W much-needed redevelopment of the Not Enter” sign. West Side, where Javits has long After Javits During the recession, the convention industry clearly strug- been an impediment. Thursday, March 1; Finally, plans to provide ample gled. Now it is expanding again— profile conventions and the millions hotel capacity—the center will in- 8:00 — 9:30am annual attendance was up 3.7% in in retail, hotel, restaurant and other clude as many as 3,000 rooms—will Jumeirah Essex House the third quarter of 2011—but the revenue that come with them. ensure that it will lure major event www.crainsnewyork.com/ city still has no capacity to accom- Just one sector illustrates the producers to the city. modate any new demand. larger problem New York City is There are millions of conven- events-javits The Javits Center on Manhat- facing.A 2009 New York City Eco- tions, trade shows and meetings tan’s West Side is the smallest con- nomic Development Corp. study happening every year across North Crain's Business Breakfast vention destination among the found that “the primary issue im- America and around the world. Forum: Caswell Holloway country’s 10 largest cities. It is well pacting New York City fashion and People already want to come to over 70% occupied (full from an in- apparel trade show producers is New York City, so it is time to give Tuesday, March 20; dustry standpoint). their demand for more convention them the opportunity by declaring 8:00 — 9:30am Our analysis shows that a market and exhibition space.” It estimat- the city open for convention like New York City could utilize ed that there is demand for 24 new business. Hilton New York more than four times the amount fashion and apparel trade exhibi- www.crainsnewyork.com/ of exhibit space offered at the Javits tions here. This dilemma repeats Mr. Johnson is the president of C.H. Johnson events-cholloway Center. itself across several different in- Consulting and a strategic and economic The result is that each year, New dustries. analyst for Resorts World New York, Crain’s Health Care York is forced to take a pass on high- That’s why plans to build the an affiliate of the Genting Group. Symposium Thursday, April 19; 8:00 —11:30am The idea that zoning would save the apparel industry did not go un- Jumeirah Essex House Garment district challenged. www.crainsnewyork.com/ Jeffrey Gural, whose family was—and still is—the largest land- events-healthcare2012 lord in the area, insisted that the re- policy fails the city zoning would reduce property val- Crain’s Business Breakfast ues, and that owners would stop Forum: Patrick Foye investing in their buildings, leading s the Bloomberg administration makes yet anoth- to a cycle of deterioration. Others Tuesday, April 24; er, and probably final, effort to overhaul the zon- pointed out that the restrictions 8:00 — 9:30am ing restrictions that cripple the garment district, would prevent the development of another thriving commercial area in The Sheraton it’s instructive to revisit how this dubious attempt Manhattan that would be needed by www.crainsnewyork.com/ at economic engineering came about. the firms of the future.Tellingly,the events-pfoye The story begins a few blocks north in Times Square, where, head of Conway Co., which had as- A sessed the real estate pressures fac- 27 years ago, Mayor Ed Koch was straining to push his $2 bil- ing the area, rose at a public hearing Crain’s Arts & Culture lion plan to revitalize the crime-ridden area through the Board to say that the city had distorted his Breakfast findings to reach its conclusion that Tuesday, May 1; of Estimate.To do that, though it provided zoning protections were needed. he needed the support more flexibility on the Facing an angry Mr. Gural at a 8:30 —10:30am of Jay Mazur, the head avenues.It was based on private meeting, a city official in- Con Edison of the International the work of consultants volved in developing the zoning Ladies’ Garment such as Louis Harris concept claimed it was to allow an More details to come! Workers’ Union, who and Associates, which “orderly decline” in apparel manu- feared that any im- had determined that the facturing. Crain’s Business Breakfast provement in Times garment industry occu- Here’s what happened. Forum: Ben Lawsky Square would push up pied 8 million square Mr. Mazur was wrong that rents in the garment feet of space and em- Times Square revitalization was a Wednesday, May 9; district. Mr. Koch ployed 25,000 people in threat. When rents did rise in the 8:00 — 9:30am agreed to launch a study GREG the area. 1990s,it was because of the Internet of why apparel-industry DAVID Apparel companies boom, and they fell when the bust Hilton New York jobs were declining and told Harris researchers came. Mr. Gural’s warnings were www.crainsnewyork.com/ what the city could do that they could not af- correct, and now fashion firms are events-blawsky about it. ford rising rents, that designers fleeing the garment district because Released in late 1986, the report needed to be in close proximity to it is such an inhospitable place to recommended the creation of a spe- belt makers, embroiderers, button work. As for an orderly decline— To learn more about Crain’s events visit: cial zoning district that would limit manufacturers and others to make well, the number of apparel jobs has www.crainsnewyork.com/events-crain property owners’ ability to convert their products, and that if they left, dropped every year since the zoning or call the Events Hotline 212-210-0739 factory space to offices by requiring so would the designers.The very fu- took effect. The Empire State Building image ® is a registered trademark them to replace the manufacturing ture of fashion in the city hung in the Can any policy have failed more of the ESBC and is used with permission. space lost on the side streets, al- balance. than this one?

February 20, 2012 | Crain’s New York Business | 11 20120220-NEWS--0012-NAT-CCI-CN_-- 2/16/2012 3:43 PM Page 1

SMALL BUSINESS Bakers struggle to swallow high costs

known Amy’s Bread recipes.Because nouncement by Twinkie maker white flour has skyrocketed From bleached flour of factors like poor harvests and Hostess Brands that it will head to $19.52 per 100 pounds in January to peanuts, prices are strong overseas demand, flour prices back into bankruptcy protection for 2012, from $14.13 in May 2010. have risen 38% in less than two years. the second time in less than a marching upward “We’re just having to suck it up decade, retail and wholesale bakers No relief in sight rather than pass on these costs,” said around the city say that they,too,are Experts don’t see prices for most BY EMILY SACHAR Ms. Scherber, whose profitable busi- struggling to absorb extra costs for baking ingredients dropping signif- ness brings in $11 million in sales an- ingredients, among them flour, sug- icantly anytime soon. “We’ve seen my Scherber spends as nually. Also, hiking retail prices can ar,raisins,nuts and some chocolates. reductions in supply for, say, wheat, much time thinking be difficult, because they’re en- Many price increases have been and strong demand is still there for about the country’s trenched in so many places, from steep.The U.S.Department of Agri- baked goods,”said Ed Lee,an expert buck ennis wheat harvest as she cash registers to signs in retail stores. culture’s Economics Research Ser- on baking trends for Modern Baking DOUGH WORRIES: Amy Scherber of Amy’s Adoes about her well- In the aftermath of the recent an- vice said the cost of basic bleached Magazine in Chicago. Bread locked in a contract for lower wheat prices. It’s not just flour prices that are challenging local bakers. -Lu’s Gluten-Free Bakery paid $29.50 for a 50-pound bag of sugar when it opened in the East Village in Feb- ruary 2010, said partner Jennifer Wells.Last month,she paid $37.15. She’s determined to hold prices steady after raising the sticker on three items—large , cook- ies and coffee —a year ago. “In this economy, people don’t want to pay a lot for a little treat,” said Ms. Wells, who employs 11 people, plus herself and her partner. Nut prices are also addling city bake-shop owners.Ms.Scherber was paying $8.18 for a pound of pecans in early January,up from about $5 or $6 a year ago. She also hesitates to pass along her increased costs. “The per- ceived value of a pecan pie or a sticky bun,” she said, “is only so high.” Doing his own shopping Charley Tucker, a partner in Long Island City, Queens-based This Chick Bakes, worries most about the price of freshly ground peanut in the wake of a poor peanut harvest in Georgia.He’s now paying 50% more for the ingredient, used in four cookie products he sells. To cut out middlemen from his $225,000 bakery business, which is 90% wholesale, he’s started shop- ping for raw ingredients himself at Restaurant Depot and Costco. “We’re going to have to raise prices, but not for a while,” he said. There may be some better news ahead. Butter, after a big run-up in 2010, is trending downward now, data show. And some prices seem to be leveling off. White sugar, for in- stance, more than doubled between January 2009 and January 2010, to $33.32 per 100-pound bag whole- sale, from $15.67, but is now hover- ing at $28 per 100 pounds in many markets, according to the USDA. Eggs have been relatively flat at be- tween $1.44 and $1.49 a dozen wholesale, according to bakers. But some bakers aren’t taking any chances. Though Ms. Scherber has read in USDA grain reports that prices of wheat flour are due to sta- bilize,she just locked in a contract at 31 cents per pound for flour for three months,anticipating that it could go as high as 36 cents. “It wasn’t worth the worry,” she said. Ⅲ

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12 | Crain’s New York Business | February 20, 2012 20120220-NEWS--0013-NAT-CCI-CN_-- 2/16/2012 4:29 PM Page 1

INSIDE The Lists The most active venture capital firms in NYC PAGE 16 NY area’s largest private equity firms PAGE 17

FACEBOOK’S MOVES CRAIN’S POLLED venture capitalists on what Facebook did right (and wrong) on its path to an IPO. Implementing an original value proposition. “Facebook’s ambition is to be the glue that connects people and websites in 100 different ways, and the way its product development has been executed has been almost spotless.” —Josh Auerbach, Betaworks Attracting great talent via a mission. “They were very transparent about the fact that they have a social mission. I think it’s important that investors understand these companies are bigger than the business.They’re all about talent, chris gash and great talent wants to not just make money. Great talent wants to help change the world.” —Jeff Stewart, Eyes on IPO prize chairman, Urgent Group Not being proactive enough in dealing As expectations increase, the race is on to be the next Facebook with privacy issues. “Whenever you have FACEBOOK’S IPO, which values the company at as much as One sign that a company has IPO potential is a big, late-stage a rapidly growing INSIDE company,you’re $100 billion, is raising expectations for more big public offerings. investment by venture capitalists. A lot of money doesn’t guarantee focused on making FOUR MORE success, though. Beyond Oblivion, a Manhattan-based digital music But going public these days is an increasingly difficult option, of the top VC sure it can grow and what with steep costs, a volatile stock market and scant liquidity recipients service backed by News Corp., banked $89 million in venture capital tend not to think about potential based in NYC regulatory issues until they come for smaller firms. Page 14 before it filed for bankruptcy in December. Its service never got off “It’s not like you have to be Facebook, but the bar is getting the ground. knocking at your door.But regulatory issues are best managed higher,” said Peg Jackson, a venture partner at Cava Capital, a CB Insights developed a list for Crain’s New York Business of the proactively early on,before they Connecticut venture technology firm, and a managing director with 25 NYC-based companies that received the largest VC investments in are problems at your door.” boutique investment bank Gridley & Co., which specializes in 2010 and 2011. We’ve profiled the five companies at the top of the list: —Nick Beim, Matrix Partners information services. Between 2001 and 2011, the number of IPOs those receiving more than $50 million each. —JUDITH MESSINA dropped by more than 75%, compared with the years 1990 to 2000, Solid accounting. according to University of Florida professor Jay Ritter. SEE full list of recipients online @ www.crainsnewyork.com/issue “They didn’t have a Google surprise or a Gilt Groupe is actions aimed at bolstering Gilt’s credibility as in- Groupon surprise.The vestors head into a skeptical Internet IPO market. numbers are what they golden for growth In January, Gilt cut about 80 employees and said they were.” —Steve Brotman, managing VC investment $138 million shuttered satellite sales offices in six cities,includ- ing Atlanta, Dallas and Philadelphia, where director, Silicon Alley Venture Employees 820 Chief Executive Kevin Ryan said the demand for Partners enture capitalists value a bargain as much as Gilt’s services didn’t justify the extra salespeople. New Yorkers do—at least when it comes to Gilt also implemented a new accounting software Multiple revenue VGilt Groupe. Last year, investors poured system on Jan. 1, presumably in part to sidestep streams. more than $138 million into the luxury discount any accounting gaffes like those that hurt “Facebook took its e-tailer, which may be New York City’s top con- Groupon. time on the IPO path tender for an initial public offering in the future. “IPOs are so distracting, we wanted to make and waited until it “Gilt has shown an unbelievably powerful for- sure there’s really a drive within the company for was ready, and had mula for growth,” said Nick Beim, a Manhattan- 2009.The 820-employee company spent much of efficiency,” said Mr. Ryan, who expects Gilt to proved out multiple based general partner at Matrix Partners and ear- last year expanding, using the funding it raised in turn profitable by the end of the year. significant revenue streams— ly investor in Gilt. May to branch out to 90 countries and launch trav- And while Mr. Ryan said Gilt won’t go public ads, payments—with great Gilt, whose core offering of high-end goods at el, gourmet food and men’s clothing websites. until early 2013, he admits that the timing may margins and profitability.” discounts of up to 60% saw the company prosper Yet while Gilt’s exploding reach helps its IPO change.“Whatever’s happening in the IPO mar- —Rick Heitzmann, managing during the recession,boasted 3.5 million members outlook—recent reports peg Gilt’s valuation close ket today has nothing to do with what it will be director, First Mark Capital and revenues of more than $500 million in 2011, to $1 billion—its lack of profitability hurts. That like a year from now,” he said. —JUDITH MESSINA AND MAGGIE OVERFELT up from 1 million users and about $170 million in may be what’s behind a series of belt-tightening —maggie overfelt

February 20, 2012 | Crain’s New York Business | 13 20120220-NEWS--0014-NAT-CCI-CN_-- 2/16/2012 6:36 PM Page 1

REPORT TECHNOLOGY

ZocDoc appeals ZocDoc operates in the biggest market available to any company, the $2.7 trillion in supersized sector health care industry, and one that is only now VC investment $75 million beginning to adopt the kind of technological Employees 200 innovations that have revolutionized every other business. yrus Massoumi’s tenacity approaches “It’s a space that can support a company be- Clegendary status in the startup world. coming a truly big company,” said Khosla The co-founder and chief executive of Ventures’ David Weiden. “That’s what gets ZocDoc, an online appointment service for investors excited—a great team able to estab- doctors and dentists, Mr. Massoumi once lish momentum in a very big space.” spent five hours cooling his heels in the office Instead of using email to help patients of a dentist with whom he was trying to close book appointments,as some health tech com- a deal. panies do, ZocDoc links users to doctors’ His persistence not only completed the booking systems in real time. Patients select transaction,it also helped the company attract the specialty and location they’re interested in a stunning $95 million in venture capital— and key in the type of insurance they have. AppSense targets $75 million in the past six months alone— ZocDoc comes back with a list of available trips up from a star-studded list of investors that in- doctors, appointment times, patient reviews enterprise sweet spot competitors cludes Goldman Sachs, well-known West and the doctors’ credentials. Coast firm Khosla Ventures, Russian mogul The payoff for physicians,who subscribe to VC investment $70 million VC investment $85 million Yuri Milner’s Digital Sky Technologies, and the service for $250 a month,is that they make Employees 380 Employees 85 Jeff Bezos and Marc Benioff, founders and money by filling up empty slots in their sched- mployees in many companies demand f today’s successful tech IPO candidates CEOs of Amazon and Salesforce.com, re- ules, often with new patients they could not Eto work from a variety of mobile and Ineed clear growth stories, then Tumblr, spectively. have attracted otherwise. other devices, such as smartphones the 85-person blogging network founded The round, ZocDoc’s third venture fund- ZocDoc today operates in 15 markets, is and tablets. That creates headaches for many five years ago by a young Manhattanite,has at ing, values the 4-year-old company at a re- profitable in five and is expanding rapidly. It’s corporate IT departments.Enter AppSense,a least one element nailed. ported $700 million. gone from 50 employees a year ago to 200 to- 380-person company ushering in the new era Tumblr, beloved for its ease of use, is day, and about 1 million consumers a of computing for corporations such as AT&T, among the world’s fastest-growing mi- month use it to find doctors and make Deutsche Bank and Motorola.AppSense sells croblogging sites, according to Internet mar- appointments. virtualization software, or custom-made ket research firm comScore. “We are unveiling a hidden sup- products that, among other things, help em- Second only to China’s Sina Weibo—a ply of health care as a result of an in- ployees work more efficiently and securely as -like site—Tumblr increased its world- efficient marketplace,” said Mr. they jump from device to device. wide reach by 172% over the past year.Tumblr Massoumi. Goldman Sachs gave HOME RUN also sees about 120 million unique users and 15 Mr. Weiden said an IPO, if one AppSense a $70 million billion page views every month,up from 13 bil- happens, is a few years away. vote of confidence last lion page views last September, said founder “They’re not ready to do that yet, year, one of many signs 50% David Karp at a recent industry conference. but they’re doing all the right things that could indicate an “[Tumblr is] growing very quickly because to get there,” said Mr. Weiden. “It’s impending IPO. With SHARE of total people like to be on the system,”said John Lil- not something that can happen this industry experts expect- revenues from ly, a partner with Silicon Valley venture firm year,but it is something that can hap- ing IT spending to re- the U.S. Greylock Partners and an early-stage investor pen over the next several years.” bound this year, the IPO in Tumblr, Facebook and Pandora. The aver- —judith messina market for enterprise age Tumblr blog is reposted nine times. software upstarts is hot: “Content flies through Tumblr like no Two such California firms—Infoblox, a data other network,” Mr. Lilly said. Buddy Media plays employs 225 people and, with its new pot of services provider, and Splunk, a data analysis JUMPR Tumblr has a hurdle money, plans to double its staff, make acquisi- company—filed paperwork in early January. to overcome before it can in social network niche tions and open more offices globally this year. “There’s much more receptiveness for en- be a big IPO:a clear prof- It’s about to move its Manhattan headquarters terprise software firms versus a consumer- VC investment $54 million it model. Right now, into 65,000 square feet of space in SoHo. Web play,” said Eric Jackson, founder and 15B Employees 225 Tumblr sells premium In the meantime, a bevy of competitors are managing member of investment firm Iron- PAGE VIEWS blog templates at prices ix months ago, the Internet’s biggest nipping at Buddy’s heels—good reason for Mr. fire Capital, which has no holdings in every month ranging from $9 to $49 Splatform for social media branding, Lazerow to emphasize in an email to Crain’s AppSense.“They’re definitely more stable … on Tumblr, up and splits sales with de- Buddy Media, raised its largest funding that Buddy is no longer solely dependent on and can show more of a growth path.” from 13B velopers. Beyond that, yet, a $54 million D round, valuing the com- Facebook. It also works with Google and AppSense, founded in the U.K. in 1999, Tumblr won’t comment pany at $500 million and bringing its total LinkedIn and recently launched BuddyReach, moved its headquarters to New York City two on sales or profitability, venture stash to $84 million. So what merits which allows companies to use social media to years ago.Since then,the $50 million firm has but investors hint that such investor confidence? push their brands anywhere on the Web. grown U.S. income from 20% to 50% of total management is doubling down on moneymak- For starters, Buddy operates in the rapidly “We’ve also recognized the need to become revenues, leveraged Goldman to build out its ing efforts. expanding world of social media, allowing it the comprehensive social solution for brands,” management team and opened a West Coast “If David wanted to,he could make [Tum- plenty of room for growth. The company de- wrote Mr. Lazerow. office in Santa Clara, Calif. blr] profitable overnight by putting Google signs campaigns and strategies for platforms The investors in Buddy’s latest round “What attracted us as a market opportuni- ads on it,” said Deven Parekh, managing di- like Facebook and Tumblr. have initial public offering credentials,and in ty was that the way that applications were be- rector with Insight Ventures, a Tumblr in- “We believe social media is the fastest- a telling blog post announcing the funding, ing delivered to employees was dramatically vestor, in New York. “What we’re doing is growing sector changing the way companies Mr. Lazerow noted that one of them, Bay changing,” said Peter Perrone, managing di- testing revenue schemes that enhance the interact with their customers,” said Deven Partners, “has had more than 250 successful rector at Goldman Sachs. “What sets quality of the communities.” Parekh, a managing director of Insight Ven- exits—IPOs or $250 million-plus acquisi- AppSense apart is the financial growth that While Mr. Parekh declined to get specif- ture Partners,which participated in the round. tions—during the past 35 years.” the company enjoys that’s a result of it solving ic, he implied that Tumblr is dodging the “We view Buddy Media as a huge enabling —judith messina a key piece of the problem.” sponsored-ad route that Twitter and Face- technology.” A big believer in the AppSense might not be a big consumer- book have embraced. potential of social media, Insight name tech company,but its IPO prospects are Instead, the firm will likely peddle some Ventures also has stakes in Tumblr, boosted by its presence in the young virtual- type of premium content or services to its Twitter and Living Social. ization market,which research firm IDC says largest communities—such as its fashion en- Equally important, the 4-year- will grow from $2.36 billion in 2011 to $2.9 thusiasts—and leverage its budding associa- old Buddy has a proven business billion in 2014. AppSense has played a big tions with such brands as -Cola, Kate model, a reported 10% gross margin part in shaping the sector, helping giants Cit- Spade and shoe company Aldo. and a seasoned team led by four- rix and VMware better knit their back-end Until then,Tumblr is sustained by the $85 time entrepreneur Michael Laze- solutions to customers’ needs. “AppSense has million it raised in the fall and is using that to row, who sold his previous compa- sped up their partners’ deployment of that combat another challenge: building out its nies to CBS and Time Inc.It already part of the solution,” said Mr. Perrone. back-end infrastructure as quickly as its user has 500 clients—it added 300 in Darron Antill, AppSense’s CEO, won’t di- base is growing in order to avoid any more site 2011 alone—including the likes of vulge any sort of IPO timeline,but said he’d like outages. Johnson & Johnson, Hearst, the firm to remain independent. “Right now, “We want to make sure we’re building DreamWorks and BBDO.With of- AppSense is focused on growth,” he said, “but something that endures,” said Mr. Parekh. fices in New York, London, San an IPO is a serious option we’re considering.” —maggie overfelt Francisco and Singapore, Buddy —maggie overfelt

14 | Crain’s New York Business | February 20, 2012 CN014939 2/3/12 2:40 PM Page 1

Payroll doesn’t have to be so frustrating. Unless you like the extra fi ber in your diet.

Learn more at Payroll.com 20120220-NEWS--0016-NAT-CCI-CN_-- 2/16/2012 3:42 PM Page 1

TECHNOLOGY

Industries of funded Funding rounds for NYC From Valley to Alley: Where the top NYC funders are companies in 2011 metro area startups in 2011 The New York City startup scene is on the map. Six of the VC firms doing the most funding in 2011 have their roots outside the city. Consumer information services First round San Francisco: 1 Menlo Park, CA: 2 West Conshohocken, PA: 1 6 8 New York City: 7 Rocky Hill, CT: 1 Boston: 1 Later stage Business support services 3 2 First round/later stage 1 Software Second round 1 2 Second round/later stage 1 Business support services/consumer information services Seed round 1 1 Source: Dow Jones VentureSource Where two round classes appear, the investor made the same number of investments in each class. Source: Dow Jones VentureSource Source: National Venture Capital Association The Most Active Venture Capital Firms Ranked by the number of investments in New York metro area startups in 2011

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16 | Crain’s New York Business | February 20, 2012 20120220-NEWS--0017-NAT-CCI-CN_-- 2/16/2012 3:40 PM Page 1

TECHNOLOGY NY Area’s Largest Private Equity Firms Ranked by assets under management, June 2011

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February 20, 2012 | Crain’s New York Business | 17 nb08p18-20cl.qxp 2/17/12 3:02 PM Page 18

EXECUTIVE PUBLIC & LEGAL NOTICES

RECRUITER Notice of Qualification of Columbus NOTICE OF QUALIFICATION of LIDC Notice of Qualification of TRANSPARENT Notice of Qualification of GARRISON Square 808 LLC. Authority filed with IV, LLC. Authority filed with NY Dept. VALUE, L.L.C. Authority filed with SECURITIES LLC. Authority filed with NY Dept. of State on 1/5/12. Office of State on 1/11/12. Office location: Secy. of State of NY (SSNY) on Secy. of State of NY (SSNY) on POSITION location: NY County. Princ. bus. NY County. LLC formed in DE on 09/11/06. Office location: NY County. 01/06/12. Office location: NY County. AVAILABLE addr.: 1745 Shea Center Dr., Ste. 11-30-11. SSNY is designated as LLC formed in Delaware (DE) on LLC formed in Delaware (DE) on 200, Highlands Ranch, CO 80129. agent upon whom process against the 08/03/06. SSNY designated as agent 09/20/11. Princ. office of LLC: LLC formed in DE on 12/29/11. NY LLC may be served. SSNY shall mail of LLC upon whom process against Garrison Investment Group, 1350 President, The Brooklyn Chamber Sec. of State designated agent of process to: 111 8th Ave., NY, NY it may be served. SSNY shall mail Ave. of the Americas, 9th Fl., NY, NY of Commerce (BCC) LLC upon whom process against it 10011. Address required to be process to c/o National Registered 10019. SSNY designated as agent of Salary: Commensurate with experience may be served and shall mail maintained in DE: 1209 Orange St., Agents, Inc., 875 Ave. of the Americas, LLC upon whom process against it Position Description: The Brooklyn process to: c/o CT Corporation Wilmington, DE 19801. Cert. of Form. Ste. 501, NY, NY 10001. DE addr. of may be served. SSNY shall mail Chamber of Commerce founded in 1918 System, 111 8th Ave., NY, NY 10011, filed with DE Secy. of State, 401 LLC: 160 Greentree Dr., Ste. 101, process to c/o Corportion Service is a membership based, nonprofit business regd. agent upon whom process may Federal St., Ste. 4, Dover DE 19901. Dover, DE 19904. Cert. of Form. filed Co., 80 State St., Albany, NY assistance and economic development be served. DE addr. of LLC: c/o The Purpose: any lawful activities. with DE Secy. of State, Div. of Corps., 12207-2543. DE addr. of LLC: 2711 organization dedicated to helping busi- Corporation Trust Co., 1209 Orange John G. Townsend Bldg., 401 Federal Centerville Rd., Ste. 400, Wilmington, nesses grow as well as promoting the eco- St., Wilmington, DE 19801. Cert. of St., Ste. 4, P.O. Box 898 (19903), DE 19808. Arts. of Org. filed with nomic development of the Borough of NOTICE OF FORMATION of U.S. Form. filed with DE Sec. of State, SPORTS FILM HOLDINGS, LLC. Dover, DE 19901. As amended by Secy. of State of DE, Div. of Corps., Brooklyn. The successful applicant should 401 Federal St., Dover, DE 19901. Cert. of Amendment filed with SSNY 401 Federal St., Dover, DE 19901. possess excellent entrepreneurial skills; the Arts of Org filed with the Sec of State Purpose: all lawful purposes. of NY (SSNY) on 2/25/11. Office on 01/25/08, name was changed to Purpose: Any lawful activity. ability to interact with community leaders, TRANSPARENT VALUE ADVISORS, government officials, small to large busi- location: NY County. SSNY has been Notice Of Formation Of Shafer Billing designated as the agent upon whom L.L.C., effective 01/09/08. Purpose: Notice of Formation of Progressive ness owners and executives. The position Practice Management LLC. Arts of Any lawful activity. requires excellent communication, mana- process may be served and shall Rehab and Home Care PT, PLLC. Orgfiled with the Secy of State of NY mail a copy of any process to: 2000 Arts. of Org. filed with Secy. of State gerial and organizational skills and follow (SSNY) on 9/13/11. Office loc: NY up with the Chamber Board, Chamber Broadway, #5A, New York, NY 10023. Notice of Formation of LEHIGH 83, of NY (SSNY) on 11/16/11. Off. loc.: County. SSNY designated as agent Principal business address: 2000 LLC. Arts. of Org. filed with Secy. of NY County. SSNY designated as staff, Major members and partners. upon whom process may be served Looking for an individual with a proven Broadway, #5A, New York, NY 10023. State of NY (SSNY) on 01/04/12. agent of PLLC upon whom process and shall mail process to The principal Purpose: any lawful acts. Office location: NY County. Princ. against it may be served. SSNY shall track record with strong financial acumen business address: 63 Wall Street, to operate current programs and events. office of LLC: 950 Third Ave., 31st mail process to: Corporation Service Ste 1307, NY, NY 10006. Purpose: Notice of Formation of Music Brand Fl., NY, NY 10022. SSNY designated Company, 80 State St., Albany, Strong marketing skills are a must in order any lawful acts. to raise awareness and funds as well as to Acquisition LLC. Arts. of Org. filed as agent of LLC upon whom process NY 12207. Purpose: practice the develop deepening relationship with stake- with NY Dept. of State on 1/11/12. against it may be served. SSNY shall profession of physical therapy. holders from the Business and NOTICE OF FORMATION OF U.S. Office location: NY County. Princ. mail process to Levy Holm Pellegrino Government communities of Brooklyn. Immigration Fund-NY LLC. Arts of Org bus. addr.: 41A Sagamore Hill Dr., & Drath LLP at the princ. office of the Notice of Qualification of M SQUARED Interest in Brooklyn business and politics, filed with the Secy of State of NY Port Washington, NY 11050. Sec. of LLC. Purpose: Any lawful activity. CAPITAL PARTNERS LLC. Authority non-profit, government, neighborhood (SSNY) on 12/6/11. Office location: State designated agent of LLC upon filed with Secy. of State of NY (SSNY) improvement, economic growth and devel- NY Cnty. SSNY designated as agent whom process against it may be NOTICE OF FORMATION OF Wasser on 1/18/12. Office location: NY opment are required. Further info: Send upon whom process may be served. served and shall mail process to: Coaching LLC. Arts of Organization County. LLC formed in Delaware (DE) cover letter, resume and salary require- The PO address to which the SSNY Vano Haroutunian, 729 7th Ave., filed with the Secretary of State of NY on 12/09/11. Princ. office of LLC: 37 ments to [email protected]. shall mail copy of process is: 11770 17th Fl., NY, NY 10019. Purpose: all (SSNY) on 11/17/11. Office loc: NY W. 21st St., Apt. 906, NY, NY 10001. US Hwy 1, #301, PBG, FL 33408. lawful purposes. Cty. SSNY designated as agent upon SSNY designated as agent of LLC The principal business address of the whom process may be served and upon whom process against it may be LLC is: 111 Bdwy, 11th Fl, NY,NY Notice of Formation of NIMIT shall mail process to: 4 Carriage Way, served. SSNY shall mail process to LEASING ATTORNEY 10006. Purpose: any lawful act. SABHARWAL LLC. Arts. of Org. filed Montclair, NJ 07042. Principal the LLC at the princ. office of the LLC. with Secy. of State of NY (SSNY) on business address: 300 Central Park DE addr. of LLC: c/o Corporation Notice of Qualification of It Fragrance 01/05/12. Office location: NY County. West, Ste 1C, NY, NY 10024. Service Co., 2711 Centerville Rd., Ste. Expert Leasing Lawyer representing LLC. Authority filed with Secy. of Princ. office of LLC: 55 W. 14th St., Purpose: any lawful acts. 400, Wilmington, DE 19808. Cert. of Office and Retail Tenants and Landlords State of NY (SSNY) on 1/13/12. Office Apt. 4L, NY, NY 10011. SSNY Form. filed with Secy. of State of DE, 15 years of commercial leasing experience location: NY County. LLC formed in designated as agent of LLC upon Notice of Formation of TennPenn Dept. of State, Div. of Corps., John Reasonable Rates - Flat Rate Quotes Delaware (DE) on 1/11/12. SSNY whom process against it may be Town & Country LLC. Arts. of Org. G. Townsend Bldg., Dover, DE 19901. Ira S. Kaufman, Esq. designated as agent of LLC upon served. SSNY shall mail process to filed with Secy. of State of NY Purpose: Any lawful activity. 917-484-2206 whom process against it may be c/o Corporation Service Co., 80 (SSNY) on 12/29/11. Office location: [email protected] served. SSNY shall mail process to: State St., Albany, NY 12207-2543. NY County. SSNY designated as Notice of formation of VIENNA www.nyrelegal.com c/o National Registered Agents, Inc., Purpose: Any lawful activity. agent of LLC upon whom process WOODS PROPERTIES 2, LLC a 875 Ave. of the Americas, Ste. 501, against it may be served. SSNY shall domestic Limited Liability Company NY, NY 10001, also the registered NOTICE OF FORMATION OF LIMITED mail process to Corporation Service (LLC). Articles of Organization filed agent. Principal office address: 725 LIABILITY COMPANY, NAME: Co., 80 State St., Albany, NY 12207- with the Secretary of State on REAL ESTATE Fifth Ave., NY, NY 10022. Address to MEDIAPLACE MZ PRODUCTIONS, 2543. Purpose: Any lawful activity. January 4, 2012. NY Office Location: be maintained in DE: 160 Greentree Dr., LLC. Articles of Organization were New York County. Secretary of State Ste. 101, Dover, DE 19904. Arts of Org. filed with the Secretary of State of is designated as agent upon whom filed with the DE Secretary of State, 401 New York (SSNY) on 9/29/11. Office GS Galleries, LLC - Arts of Org. filed process against the LLC may be LUXURY PROPERTY Federal St., Ste. 4, Dover, DE 19901. location: New York County. SSNY with Secy. of State of NY (SSNY) on served. Secretary of State shall mail Purpose: any lawful activities. has been designated as agent of the 11/3/2011. Office location: New York a copy of any process against the LLC upon whom process against it County. SSNY designated as agent of LLC served upon him/her to: 500 FOR SALE Notice of Qualification of Crowd Play, may be served. SSNY shall mail a LLC upon whom process against it Atlantic Avenue, #19F, Boston, EAST HAMPTON LLC. Authority filed with Secy. of copy of process to the LLC 130 W. may be served. SSNY shall mail Massachusetts 02210. Purpose: To State of NY (SSNY) on 12/29/11. 29th Street 4th Floor, New York, NY process to c/o Ganfer & Shore, LLP, engage in any lawful act or activity. Office location: NY County. LLC 10001. Purpose: Any lawful purpose. 360 Lexington Ave., NY, NY 10017. Purpose: any lawful activity. formed in Delaware (DE) on 12/12/11. Notice of Formation of GALAXY SSNY designated as agent of LLC NOTICE OF QUALIFICATION of LIDC SPECIAL LLC. Arts. of Org. filed with upon whom process against it may be III, LLC. Authority filed with NY Dept. NOTICE OF QUALIFICATION of CNT Secy. of State of NY (SSNY) on served. SSNY shall mail process to: of State on 1/10/12. Office location: PROPERTIES LLC. Authority filed 01/05/12. Office location: NY County. c/o National Registered Agents, Inc., NY County. LLC formed in DE on with the Secy of State of NY (SSNY) SSNY designated as agent of LLC 875 Ave. of the Americas, Ste. 501, 11-30-11. SSNY is designated as on 1/10/12. Office loc: NY County. upon whom process against it may be NY, NY 10001. Principal office agent upon whom process against the LLC formed in NJ on 1/4/12. SSNY served. SSNY shall mail process to address: 245 8th Ave., #199, NY, NY LLC may be served. SSNY shall mail designated as agent upon whom c/o Sukenik, Segal & Graff, P.C., 404 10011. Address to be maintained in process to: 111 8th Ave., NY, NY process may be served. SSNY shall Fifth Ave., 5th Fl., NY, NY 10018. DE: 160 Greentree Dr., Ste. 101, 10011. Address required to be mail process to 301 N. Harrison St, Purpose: Any lawful activity. Dover, DE 19904. Arts of Org. filed maintained in DE: 1209 Orange St., PMB#117, Princeton, NJ 08540, its with the DE Secretary of State, 401 Wilmington, DE 19801. Cert. of Form. princ. business and NJ address. Cert Notice of Qualification of INCLINE Federal St., Ste. 4, Dover, DE 19901. filed with DE Secy. of State, 401 of LLC filed with NJ Secy of State: GLOBAL PARTNERS LP. Authority Purpose: any lawful activities. Federal St., Ste. 4, Dover DE 19901. 33 W State St, Trenton, NJ 08608. filed with Secy. of State of NY (SSNY) Purpose: any lawful activities. Purpose: any lawful act. on 01/13/12. Office location: NY Notice of Qualification of KINNEY County. LP formed in Delaware (DE) PARKING SYSTEM, LLC. Authority Notice of Qualification of 59 West 35th Notice of Qualification of JCG Staffing on 01/09/12. Princ. office of LP: 110 filed with Secy. of State of NY (SSNY) Street Operator LLC. Authority filed LLC. Application for Authority filed Central Park South, 22nd Fl., NY, NY on 01/17/12. Office location: NY with NY Dept. of State on 11/23/11. with the Secretary of State of New 10019. SSNY designated as agent of PUBLIC & County. LLC formed in Tennessee (TN) Office location: NY County. Princ. bus. York (SSNY) on 12/23/2011. Office LP upon whom process against it may on 12/12/11. Princ. office of LLC: addr.: 59 W. 35th St., NY, NY 10001. location: New York County. LLC be served. SSNY shall mail process LEGAL NOTICES 2401 21st Ave. South, Nashville, TN LLC formed in DE on 10/28/11. NY formed in DE on 12/5/2011. SSNY to the LLC at the princ. office of the 37212. SSNY designated as agent of Sec. of State designated agent of LLC designated as an agent upon whom LP. The regd. agent of the company LLC upon whom process against it upon whom process against it may be process may be served and shall upon whom and at which process PLAZA PENTHOUSE LLC a domestic may be served. SSNY shall mail served and shall mail process to: CT mail process to the principal business against the company can be served LLC, Arts. of Org. filed with the process to Corporation Service Co., Corporation System, 111 8th Ave., 13th address c/o Gruss & Co., Inc., 777 is Jeffrey Lignelli, c/o Incline Global SSNY on 1/11/12. Office location: 80 State St., Albany, NY 12207. TN Fl., NY, NY 10011. DE addr. of LLC: South Flagler Drive, #801-E, West Management LLC,at the princ. office New York County. SSNY is desig- addr. of LLC: 2401 21st Ave. South, c/o The Corporation Trust Co., 1209 Palm Beach, FL 33401. Certificate addr. Name and addr. of each general nated as agent upon whom process Ste. 200, Nashville, Davidson Cnty., Orange St., Wilmington, DE 19801. Cert. of LLC filed with the Secretary of partner are available from SSNY. DE against the LLC may be served. TN 37212. Arts. of Org. filed with TN of Form. filed with DE Sec. of State, State of DE located at Division of addr. of LP: 2711 Centerville Rd., Ste. SSNY shall mail process to: The Secy. of State, 312 Rosa L. Parks Ave., 401 Federal St., Dover, DE 19901. Corporations, John G. Townsend 400, Wilmington, DE 19808. Arts. of LLC, c/o Cohen & Frankel, LLP, 286 6th Fl., William R. Snodgrass Tower, Purpose: to engage in any lawful Building, 401 Federal Street, Ste. 4, Org. filed with Secy. of State of the Madison Ave., Ste. 2100, NY, NY Nashville, TN 37243. Purpose: Own activity related to its ownership and Dover, Delaware 19901. Purpose: State of DE, 401 Federal St., Dover, DE 10017. General Purposes. and operate parking facilities. operation of real estate. Any lawful acts. 19901. Purpose: Any lawful activity.

18 | Crain’s New York Business | February 20, 2012 nb08p18-20cl.qxp 2/17/12 3:02 PM Page 19

PUBLIC & LEGAL NOTICES

Notice of Qualification of CHARLES Notice of Qualification of EQR-175 Notice of Qualification of TalentWise Notice of Qualification of Restaurant Notice of Qualification of THRILLIST STERLING GROUP, LLC. Authority Kent Avenue B, LLC. Authority filed Solutions LLC. Authority filed with NY 40 LLC. Authority filed with Secy. of REWARDS LLC. App. for Auth. filed filed with Secy. of State of NY with NY Dept. of State on 12/16/11. Dept. of State on 12/28/11. Office State of NY (SSNY) on 1/3/12. Office with Secy. of State of NY (SSNY) on (SSNY) on 01/03/12. Office location: Office location: NY County. Princ. location: NY County. LLC formed in location: NY County. LLC formed in 1/10/12. Off. loc.: NY County. LLC NY County. LLC formed in Delaware bus. addr.: 2 N. Riverside Plaza, Ste. NV on 11/13/06. NY Sec. of State Delaware DE) on 12/23/11. SSNY formed in Delaware (DE) on 1/20/11. (DE) on 09/26/03. SSNY designated 400, Chicago, IL 60606. LLC formed designated agent of LLC upon whom designated as agent of LLC upon SSNY designated as agent of LLC as agent of LLC upon whom process in DE on 12/13/11. NY Sec. of State process against it may be served and whom process against it may be upon whom process against it may against it may be served. SSNY shall designated agent of LLC upon whom shall mail process to: c/o CT served. SSNY shall mail process to: be served. SSNY shall mail process mail process to c/o National process against it may be served and Corporation System, 111 8th Ave., NY, c/o National Registered Agents, Inc., to: c/o Pilot Group, 75 Rockefeller Registered Agents, Inc., 875 Ave. of shall mail process to: c/o CT NY 10011, regd. agent upon whom 875 Ave. of the Americas, Ste. 501, Plaza, 23rd Fl., NY, NY 10019, Attn: the Americas, Ste. 501, NY, NY 10001. Corporation System (CTCS), 111 8th process may be served. Principal NY, NY 10001, also the registered Paul McNicol. DE address of LLC: DE addr. of LLC: 160 Greentree Dr., Ave., NY, NY 10011, regd. agent office addr.: 500 108th Ave. NE, Floor agent. Principal office address: 725 c/o Corporation Service Company, Ste. 101, Dover, DE 19904. Arts. of upon whom process may be served. 22, Bellevue, WA 98004. Cert. of Org. 5th Ave., NY, NY 10022. Address to be 2711 Centerville Rd., Ste. 400, Org. filed with DE Secy. of State, Div. DE addr. of LLC: c/o CTCS, 1209 filed with NV Sec. of State, 202 N. maintained in DE: 160 Greentree Dr., Wilmington, DE 19808. Cert. of of Corps., John G. Townsend Bldg., Orange St., Wilmington, DE 19801. Carson St., Carson City, NV 89701. Ste. 101, Dover, DE 19904. Arts of Org. Form. filed with DE Secy. of State, 401 Federal St., Ste. 4, Dover, DE Cert. of Form. filed with DE Sec. of Purpose: all lawful purposes. filed with the DE Secretary of State, 401 Federal St., Ste. 4, Dover, DE 19901. Purpose: Any lawful activity. State, 401 Federal St., Dover, DE 401 Federal St., Ste. 4, Dover, DE 19901. Purpose: any lawful activity. 19901. Purpose: all lawful purposes. Notice of Formation of Gerchberg 19901. Purpose: any lawful activities. INES G EDITORIAL LLC, a domestic Ophthalmic Dispensing, PLLC a NOTICE OF FORMATION OF LIMITED LLC, Arts. of Org. filed with the SSNY MARY BLAKE INTERIORS, LLC, a domestic Professional Limited Liability Notice of Formation of Limited LIABILITY COMPANY. NAME: on 12/12/11. Office location: New domestic LLC, Arts. of Org. filed Company (PLLC). Art. of Org. filed Liability Company (LLC) SABON WYDOWN PROPERTIES LLC. Articles York County. SSNY is designated as with the SSNY on 12/20/11. Office with the SSNY on May 19, 2009. BOOTH, LLC Articles of Organization of Organization were filed with the agent upon whom process against location: New York County. SSNY is Office location: New York County at filed by the Department of State of Secretary of State of New York (SSNY) st the LLC may be served. SSNY shall designated as agent upon whom 155 W 71 Street, Apt. 6G New New York on 01/03/2012. Office on 12/21/11. Office location: New mail process to: Ines Greenberger, process against the LLC may be York, NY 10023. SSNY is designated location: County of New York. York County. SSNY has been 55 E. 9th St., Ste. T-C, NY, NY 10003. served. SSNY shall mail process to: agent upon whom process against Purpose: any and all lawful activities. designated as agent of the LLC upon General Purposes. The LLC, 347 W. 57th St., NY, NY the LLC may be served. The SSNY Secretary of State of New York whom process against it may be 10011. General Purposes. shall mail a copy of any process to (SSNY) designated as agent of LLC served. SSNY shall mail a copy of MLEKODAY CPA LLC, a domestic Kirk Gerchberg at 155 W 71st upon whom process against it may process to the LLC, 580 Park Avenue, PLLC, Arts. of Org. filed with the SSNY DB ENERGY CONSULTING LLC, a Street, Apt. 6G New York, NY be served. SSNY shall mail copy of New York, New York 10065, ATTN: on 10/9/09. Office location: New domestic LLC, Arts. of Org. filed with 10023. PURPOSE: To engage in any process to: 38 Greene Street, Suite Philip R. Cowen. Purpose: For any York County. SSNY is designated as the SSNY on 12/27/11. Office location: lawful act or activity. 5A New York, NY 10013. lawful purpose. agent upon whom process against New York County. SSNY is designated the PLLC may be served. SSNY as agent upon whom process against Notice of Formation of Limited Notice of Qualification of Executive NOTICE OF FORMATION OF BARD shall mail process to: The LLC, 1798 the LLC may be served. SSNY shall Liability Company (LLC) SABON 782 Le Soleil New York LLC. Appl. for PARTNERS LLC. Arts of Org filed 3rd Ave., NY, NY 10029. Purpose: mail process to: Daniel J. Borriello, LEX, LLC. Articles of Organization Authority filed with Secy. of State of with the Secy of State of NY (SSNY) Certified Public Accountancy. Esq., 134 W. 13th St., Ground Fl., NY, filed by the Department of State of NY (SSNY) on 12/09/11. Off. loc.: New on 12/16/11. Office location: NY NY 10011. General Purposes. New York on 01/03/2012. Office York Co.; orig. juris.: Delaware. SSNY County. SSNY designated as agent NOTICE OF FORMATION OF Avadel location: County of New York. designated as agent of LLC upon whom upon whom process may be served. LLC. Arts of Org filed with SSNY on MARSA HOLDINGS LLC a domestic Purpose: any and all lawful activities. process against it may be served. The PO address to which SSNY shall 10/21/2011. Office location: NY Cty. LLC, Arts. of Org. filed with the SSNY Secretary of State of New York SSNY shall mail process to the LLC, mail copy of any process: LEAH SSNY designated agent for process. on 1/17/12. Office location: New York (SSNY) designated as agent of LLC c/o Robinson Brog, et al., 875 Third PESKIN, 140 W 79TH ST, PHB, NY, Copy of any process to be mailed to County. SSNY is designated as upon whom process against it may Ave., 9th Fl., New York, NY 10022, NY 10024. Principal business principal business address: 5 Crosby agent upon whom process against the be served. SSNY shall mail copy of Attn: David M. Blumenthal, Esq. address: 140 W 79TH ST PHB, NY, Street, Suite 3D, New York, NY LLC may be served. SSNY shall mail process to: 38 Greene Street, Suite Purpose: any lawful act or activity. NY 10024. Purpose: any lawful act. 10013. Purpose: any lawful acts. process to: Deepak Khullar, c/o Ark 5A New York, NY 10013. LLP, 1120 6th Ave., 4th Fl., NY, NY NOTICE OF FORMATION OF Wind NOTICE OF FORMATION OF LIMITED ERGO, LLC Articles of Org. filed NY 10036. General Purposes. NOTICE OF FORMATION of limited Law Office PLLC. Arts of Org filed LIABILITY COMPANY. NAME: Sec. of State (SSNY) 1/3/12. Office in liability company (LLC). Name: with the Secy of State of NY (SSNY) OBSERVATORY RIDGE, LLC. Articles NY Co. SSNY desig. agent of LLC Name of LLC: NYVER GROUP LLC. CRUCIANI USA, LLC. Articles of on 12/06/2011. Office loc: NY Co. of Organization were filed with the upon whom process may be served. Arts. of Org. filed with NY Dept. of Organization filed with the Secretary SSNY designated as an agent upon Secretary of State of New York (SSNY) SSNY shall mail copy of process to State: 1/3/12. Office loc.: NY Co. Sec. of State of New York (SSNY) on whom process may be served and on 01/18.12. Office location: New York 481 Washington St., NY, NY 10014, of State designated agent of LLC 10/31/2011. Office location: New York shall mail a copy of any process to County. SSNY has been designated which is also the principal business upon whom process against it may County. SSNY designation as agent the principal business address: 387 as agent of the LLC upon whom location. Purpose: Any lawful purpose. be served and shall mail process to: of LLC upon whom process against it Grand Street, #404, NY, NY 10002. process against it may be served. c/o Business Filings Inc., 187 Wolf may be served. SSNY shall mail copy Purpose: any lawful act. SSNY shall mail a copy of process Notice of formation of Poly Rd., Ste. 101, Albany, NY 12205, of process to: The LLC c/o MARCUS to the LLC, 2002 Fifth Avenue, #7A, International Auction Co., LLC. The regd. agt. upon whom process may ATTORNEYS, 13 GREENE AVENUE, Notice of Qualification of Consolidated New York, New York 10035. company was formed on May 5, 2011 be served. Purpose: any lawful act. BROOKLYN, NEW YORK 11238. Trading LLC. Application for Authority Purpose: For any lawful purpose. in NY County. Office address: 36 W. Purpose: Any lawful purpose. filed with the Secretary of State of 44th St., Suite 707, New York, NY NOTICE OF REGISTRATION of Samach NY (SSNY) on 11/18/2011. NY office NOTICE OF FORMATION OF NYC 10036. Service of process may be + Seo Architecture & Planning LLP Notice of Qualification of BBC Retail loc: NY Cty. LLC formed in Illinois on Nutritional Therapy LLC. Arts of Org effected by mailing to the correspon- Cert. of Reg. filed Sec’y of State (SSNY) & Internet LLC. Authority filed with NY 10/22/01. SSNY designated as agent filled with the Secy of State of NY ding Secretary of State. Purpose of 2/3/12. Office location: New York Dept. of State on 1/18/12. Office of LLC upon process against it may (SSNY) on 9/2/11. Office loc: NY Cty. LLC: to engage in any lawful activity. County. SSNY designated as agent of location: NY County. LLC formed in FL be served and shall mail process to SSNY designated as agent upon LLP upon whom process against it on 6/2/11. NY Sec. of State designated the principal business/IL address: 200 whom process may be served and Notice of Formation of ALL IS LOST, may be served. SSNY shall mail copy agent of LLC upon whom process W Jackson Blvd, Ste. 2300, Chicago, shall mail process to the principal LLC. Arts. of Org. filed with Secy. of of process to David C. Wrobel, Esq., against it may be served and shall IL 60606. Certificate of LLC filed with business address: 31-28 Crescent State of NY (SSNY) on 12/14/11. Off. 1040 Ave of the Americas, Suite 1101, mail process to: c/o CT Corporation Sec of State of IL located at 501 S. Street, D2, Astoria, NY 11106. loc: NY County. SSNY designated as New York, NY 10018. Purpose: to System, 111 8th Ave., NY, NY 10011, 2nd St., Room 351, Springfield, IL Purpose: any lawful acts. agent of LLC upon whom process practice the profession of architecture. regd. agent upon whom process may 62756. Purpose: any lawful acts. against it may be served. SSNY shall be served. FL and principal business EPIC FIGHT LLC, a domestic LLC. mail process to: 310 Bowery, NY, NY Notice of Formation of AURIGA addr.: 3850 Bird Rd., #800, Miami, FL HASDEI HASHEM LLC Articles of Arts. of Org. filed with the SSNY on 10012. Purpose: any lawful activity. IMMOBILIARE, LLC. Arts. of Org. filed 33146. Cert. of Org. filed with FL Sec. Org. filed NY Sec. of State (SSNY) 12/19/2011. Office location: NY with Secy. of State of NY (SSNY) on of State, 2661 Executive Ctr. Cir., 12/1/11. Office in NY Co. SSNY County. SSNY has been designated Notice is hereby given that a License 01/03/12. Office location: NY County. Tallahassee, FL 32301. Purpose: all desig. agent of LLC upon whom as agent upon whom process against Number (PENDING) for on-premises Princ. office of LLC: 420 Fifth Ave., lawful purposes. process may be served. SSNY shall the LLC may be served. SSNY shall Wine / Beer has been applied for by 26th Fl., NY, NY 10018. SSNY mail copy of process to 241 West 37th mail process to: 842 2nd Ave., NY, NY the undersigned to sell Wine / Beer designated as agent of LLC upon Notice of qualification of Creative St., Ste. 208, NY, NY 10018, which is 10017. Reg Agent: Alexander Nicholas, at retail in a Restaurant under the whom process against it may be Licensing Group, LLC. Fict Name: CLG also the principal business location. 842 2nd Ave., NY, NY 10017. Alcoholic Beverage Control Law at served. SSNY shall mail process to Licensing, LLC. App for Authority filed Purpose: Any lawful purpose. Purpose: Any Lawful Purpose. 424 E 9th Street, New York, NY 10009 Eugenio Minoli, Altieri Esposito Minoli with the Secy of State of NY (SSNY) for on premises consumption. ZI’ PEPS PLLC at the princ. office of the LLC. on 10/7/11. Office loc: New York Notice of Qualification of CASTLE Notice of Qualification of CASTLE RESTAURANT, INC. D/B/A ZI PEPS Purpose: Any lawful activity. County. LLC formed in DE on 8/27/10. CAPITAL PARTNERS GP, LLC. CAPITAL MANAGEMENT, LLC. SSNY has been designated as an Authority filed with Secy. of State of Authority filed with Secy. of State of agent upon whom process may be NY (SSNY) on 01/20/12. Office location: NY (SSNY) on 01/20/12. Office location: served and shall mail a copy of any NY County. LLC formed in Delaware NY County. LLC formed in Delaware process against the LLC served upon (DE) on 01/13/12. Princ. office of (DE) on 01/13/12. Princ. office of it to c/o Corporation Service Company, LLC: Attn: John Shaw III and Kraig LLC: Attn: John Shaw III and Kraig 80 State Street, Albany, NY 12207-2543. Tuber, 1177 Ave. of the Americas, Tuber, 1177 Ave. of the Americas, To place your Princ address of LLC: 1619 Broadway, NY, NY 10112. SSNY designated as NY, NY 10112. SSNY designated as 9th Flr, New York, NY 10019. DE agent of LLC upon whom process agent of LLC upon whom process address of LLC: c/o Corporation against it may be served. SSNY shall against it may be served. SSNY shall classified ad call Service Company, 2711 Centerville mail process to the LLC at the princ. mail process to the LLC at the princ. Road, Suite 400, Wilmington, DE office of the LLC. DE addr. of LLC: office of the LLC. DE addr. of LLC: 19808. Cert of Formation of LLC filed c/o Corporation Service Co., 2711 c/o Corporation Service Co., 2711 Trish Henry on 8/27/10 with the Secy of State of Centerville Rd., Ste. 400, Wilmington, Centerville Rd., Ste. 400, Wilmington, DE loc at: Div of Corps, John G DE 19808. Arts. of Org. filed with DE 19808. Arts. of Org. filed with Townsend Bldg, 401 Federal Street - Secy. of State of DE, 401 Federal St., Secy. of State of DE, 401 Federal St., @ 212-210-0711 Ste 4, Dover, DE 19901. Purpose of Ste. 4, Dover, DE 19901. Purpose: Ste. 4, Dover, DE 19901. Purpose: LLC: any lawful activity. Any lawful activity. Any lawful activity.

February 20, 2012 | Crain’s New York Business | 19 20120220-NEWS--0020-NAT-CCI-CN_-- 2/17/2012 3:27 PM Page 1

A DOUBLE DOWNER SBLI Chief Executive Michael between 2000 and 2007. Life insurer SBLI has seen Further pain may loom because Akker disputes the dire assessment. Stretching for higher returns, dividends to policyholders plunge assets equal to about 90% of the SBLI He said the insurer has stabilized and SBLI began investing in higher- company’s $74 million in capital are and net income swing wildly since has the resources to meet all its obli- yield, higher-risk instruments, espe- it was privatized at the beginning at risk of significant write-downs. Continued from Page 1 gations to policyholders. It has cially mortgage-backed securities.At of the past decade. Mr. Akker said he is comfortable holders’ money heavily in mort- shrunk its mortgage exposure and cut one point, the securities accounted 40 with SBLI’s financial reporting. gage-backed securities during last annual operating costs by two-thirds for nearly half of the insurer’s bond Dividends, in millions Here’s the situation: $40 million decade’s real estate mania. When since he took the helm in 2010. By portfolio, according to A.M. Best. Net income, in millions of SBLI’s assets are classified as those securities plunged in value, continuing to hold the line on costs Unfortunately, SBLI had 30 Level 3, which means there is so lit- nearly half of the life insurer’s capi- and with further improvement from nowhere to hide when the market tle demand that their value can only tal was wiped out. Barred by state its investment portfolio, he said, the collapsed and the value of mortgage- 20 be guessed at. It also means the as- regulators from selling new policies company can rebuild its capital base backed securities sank. In 2010, its sets could well be worth consider- for the past two years, SBLI has and one day sell insurance again. base of capital—the amount it has to ably less than $40 million. been dipping into reserves to help “We feel we’ve turned the corner,” pay claims—eroded by nearly half,to 10 Another $26 million of assets are stay in the black. Influential insur- said Mr. Akker, who has worked at $65 million from $113 million.That deferred tax assets, which could be ance-rating agency A.M. Best SBLI since 2001 and previously summer, state regulators barred 0 used to offset taxes on future earn- repeatedly cut the firm’s financial- served as chief operating officer. SBLI from selling new policies until ings. But if SBLI doesn’t generate strength rating—until earlier this it fixed its financial problems, and earnings—a possibility, considering Nowhere to hide -10 month, when it said SBLI request- Ms. Pryor was ousted. ’00 ’11* that no new business is coming in and ed that it no longer be rated. SBLI is hardly the only insurer to Ms. Pryor, who later became *Through Sept. 30, 2011. the company’s exposure to the volatile Unless management can orches- struggle after mortgage-related mis- CEO of the American Red Cross in Sources: NYS Insurance Dept., National Association mortgage-backed securities market trate a turnaround, some industry steps.But its unique history and mar- Greater New York,did not comment. of Insurance Commissioners, A.M. Best. continues—then the deferred tax as- experts say, it may be necessary for ket niche make it something of a spe- The New York State Department of sets would have to be written down. the state to take over the company in cial case in the insurance industry. Financial Services, which regulates SBLI barely would have made order to ensure that SBLI’s 240,000 The company was created by the SBLI, declined to comment. in December, according to Fitch any money through the nine months mostly blue-collar policyholders get state of New York in 1939 as a non- Mr. Akker said there are many Ratings.Scenarios like that have en- ended Sept.30 had it not dipped into paid after they file claims. profit and wasn’t privatized until reasons to believe SBLI will recover. abled SBLI to write up the value of its jar of reserves. Of $2.8 million in “The combination of no new 1999. That year, SBLI brought in a He noted that even as A.M. Best its investment portfolio by $10 mil- net income, $2 million was generat- business coming in and their telling chief executive named Vikki Pryor, withdrew its rating earlier this lion through the nine months ended ed by reserve releases. SBLI officials A.M. Best not to rate them suggest who tried to expand nationwide. month, it raised its outlook for the last Sept.30,which helped boost the said reserves were released because a company that’s headed to runoff or But SBLI soon ran into a chal- company from “negative” to “stable.” insurer’s capital levels. the firm’s book of insurance shrank. receivership,” said Mark Peters, a lenge shared by many insurers at the As for A.M. Best’s withdrawing Still, there is cause for concern. Such a decline, figures longtime former head of the New York Liqui- time: The Federal Reserve was SBLI’s rating,Mr.Akker said,it made While SBLI recently recorded an customer Mr. Hoffman, is reason dation Bureau, the state agency that slashing interest rates to minimize no sense to pay $30,000 a year for a “unrealized gain” of $10 million on enough for management to hand winds down insolvent insurers. Mr. the damage caused by the collapse of rating that’s essentially useless while its investments, it took an even larg- over control to someone else before Peters added that holders of SBLI’s last decade’s tech-stock bubble. no one can sell SBLI insurance. er “realized loss”of $14 million in its the state does it for them. policies, which have a collective face Yields on most bonds fell, which There also are signs the real estate portfolio. That loss was due to the “Management’s strategy is to value of $14 billion, would be pro- lowered the returns generated by market is improving. Delinquencies company’s writing off securities that hope for a better day that probably tected in a state takeover, much like SBLI’s investment portfolio. Divi- for multifamily loans, for instance, will never recover and shows how won’t come,” he said. “We all know depositors after a bank failure. dends to policyholders plunged 75% fell last month to 12.8%,from 14.4% SBLI’s past continues to haunt it. that hope is not really a strategy.” Ⅲ

PUBLIC & LEGAL NOTICES

Name of Foreign LLC: Butlers of the Notice of Qualification of SunRun Notice of Qualification of A3 HOLDINGS, Notice of Application for Authority of Notice of Qualification of BRASSERIE Big Apple LLC. Authority filed with Solar Tenant VI, LLC. Authority filed LLC. Authority filed with Secy. of Signature Captive Solutions, LLC 8-1/2 LLC. Authority filed with Secy. of NY Dept. of State: 11/3/11. Office with NY Dept. of State on 1/27/12. State of NY (SSNY) on 02/01/12. filed with the Secy. of State of NY State of NY (SSNY) on 02/01/12. Office loc.: NY Co. LLC formed in DE: Office location: NY County. LLC Office location: NY County. LLC (SSNY) on 7/26/11. Formed in PA location: NY County. LLC formed in 9/30/11. NY Sec. of State designated formed in CA on 1/24/12. NY Sec. of formed in Delaware (DE) on 12/12/11. 5/21/08. Office loc.: New York County. Delaware (DE) on 01/20/00. Princ. agent of LLC upon whom process State designated agent of LLC upon SSNY designated as agent of LLC The SSNY is designated as agent of office of LLC: 9 W 57th St., NY, NY against it may be served and shall whom process against it may be upon whom process against it may LLC upon whom process against it 10019. SSNY designated as agent of mail process to: c/o Business Filings served and shall mail process to: CT be served. SSNY shall mail process may be served. The address SSNY LLC upon whom process against it Inc., 187 Wolf Rd., Ste. 101, Albany, Corporation System, 111 8th Ave., to the LLC, 200 Mott St., Apt. #18, NY, shall mail copy of process to is 747 may be served. SSNY shall mail NY 12205. DE addr. of LLC: 108 W. NY, NY 10011. CA and principal NY 10012. DE addr. of LLC: 2711 Dresher Rd., Ste. 100, Horsham, PA process to c/o Corporation Service 13th St., Wilmington, DE 19801. business addr.: 45 Fremont St., 32nd Centerville Rd., Ste. 400, Wilmington, 19044. The required office address Co. (CSC), 80 State St., Albany, NY Cert. of Form. filed with DE Sec. of Fl., San Francisco, CA 94105. Cert. DE 19808. Arts. of Org. filed with DE in PA is 2745 Harvard Dr., Warrington, 12207-2543. DE addr. of LLC: c/o State, 401 Federal St., Dover, DE of Org. filed with CA Sec. of State, Secy. of State, Div. of Corps., 401 PA 18976. Cert. of Organization filed CSC, 2711 Centerville Rd., Ste. 400, 19901. Purpose: any lawful act. 1500 11th St., Sacramento, CA Federal St., Ste. 4, Dover, DE 19901. with Carol Aichele, Sec. of the Wilmington, DE 19808. Arts. of Org. 95814. Purpose: all lawful purposes. Purpose: Any lawful activity. Commonwealth, 401 North St., filed with Jeffrey W. Bullock, Secy. of Notice of Formation of BURGEON & Room 206, Harrisburg, PA 17120. State, 401 Federal St., Townsend FLOURISH, LLC. Arts. of Org. filed Notice of formation of Point Grey Notice of Formation of AFD Bldg., Ste. 3, Dover, DE 19901. with Secy. of State of NY (SSNY) on Capital Advisors LLC. Arts of Org Productions LLC. Arts. of Org. filed NOTICE OF FORMATION of Mischa Purpose: Any lawful activity. 01/06/12. Office location: NY County. filed with Secy Of State of NY with Secy. of State of NY (SSNY) on Lampert LLC. Arts of Org filed with Princ. office of LLC: 400 E. 77th St., (SSNY) on 11/15/11. Office loc: NY 12/29/11. Office location: NY County. the Secy of State of NY (SSNY) on Notice of Formation of PunchUp LLC. Apt. 1H, NY, NY 10075. SSNY Cty. SSNY designated as agent SSNY designated as agent of LLC 11/17/2011. Office Loc: NY County. Arts. of Org. filed with Secy. of State designated as agent of LLC upon upon whom process against it may upon whom process against it may SSNY designated as agent upon of NY (SSNY) on 11/16/11. Off. loc.: NY whom process against it may be be served and shall mail process to: be served. SSNY shall mail process whom process may be served shall County. SSNY designated as agent of served. SSNY shall mail process to 129 W 75th St, 4F, NY, NY, 10023. to: The LLC, 601 West 26th St., Ste. mail a copy of any process to the LLC upon whom process against it may the LLC at the addr. of its princ. Purpose: any lawful acts. 1762, NY, NY 10001. Purpose: any principal business address: 155 be served. SSNY shall mail process office. Purpose: Any lawful activity. lawful activities. Wooster Street, Apt. 5E New York, to: 219 E 59th Street, New York, NY Notice of Qualification of ADVISER NY 10012. Purpose: any lawful acts. 10022. Purpose: loyalty reward system. Notice of Qualification of PAYNE COMPLIANCE ASSOCIATES, L.L.C. Notice of Qualification of PAYNE LLC. Authority Authority filed with Secy. of State of NY APPAREL LLC. Authority filed with Notice of Qualification of EQR-175 Notice of Qualification of CARVER CDC filed with Secy. of State of NY (SSNY) on 11/23/11. Office location: Secy. of State of NY (SSNY) on Kent Avenue A, LLC. Authority filed - SUBSIDIARY CDE 5, LLC. Authority (SSNY) on 01/09/12. Office location: NY County. LLC formed in District of 01/09/12. Office location: NY County. with NY Dept. of State on 12/16/11. filed with Secy. of State of NY (SSNY) NY County. LLC formed in Delaware Columbia (DC) on 10/01/01. Princ. LLC formed in Delaware (DE) on Office location: NY County. Princ. bus. on 01/12/12. Office location: NY (DE) on 08/04/11. Princ. office of office of LLC: 8403 Colesville Rd, 02/23/11. Princ. office of LLC: 1384 addr.: 2 N. Riverside Plaza, Ste. 400, County. LLC formed in Delaware (DE) LLC: 1384 Broadway Ave., NY, NY Suite 870, Silver Spring, MD 20910. Broadway Ave., NY, NY 10018. SSNY Chicago, IL 60606. LLC formed in DE on 12/04/06. Princ. office of LLC: 75 10018. SSNY designated as agent of SSNY designated as agent of LLC designated as agent of LLC upon on 12/13/11. NY Sec. of State W. 125th St., NY, NY 10027. SSNY LLC upon whom process against it upon whom process against it may be whom process against it may be designated agent of LLC upon whom designated as agent of LLC upon whom may be served. SSNY shall mail served. SSNY shall mail process to served. SSNY shall mail process to process against it may be served and process against it may be served. process to Don Lewis, 5175 S. Soto 8403 Colesville Rd, Suite 870, Silver Don Lewis, 5175 S. Soto St., Vernon, shall mail process to: c/o CT SSNY shall mail process to the LLC, St., Vernon, CA 90058. DE addr. of Spring, MD 20910. DC addr. of LLC: CA 90058. DE addr. of LLC: c/o Corporation System (CTCS), 111 8th 120 Broadway, NY, NY 10271. DE LLC: c/o Corporation Service Co., 1224 M Street, NW, Suite 101, Corporation Service Co., 2711 Ave., NY, NY 10011, regd. agent upon addr. of LLC: Corporation Service 2711 Centerville Rd., Ste. 400, Washington, DC 20005. Cert. of Centerville Rd., Ste. 400, Wilmington, whom process may be served. DE Co., 2711 Centerville Rd., Ste. 400, Wilmington, DE 19808. Arts. of Org. Form. filed with Superintendent of DE 19808. Arts. of Org. filed with DE addr. of LLC: c/o CTCS, 1209 Orange Wilmington, DE 19808. Arts. of Org. filed with DE Secy. of State, Div. of Corporations, Corporations Division, Secy. of State, Div. of Corps., John St., Wilmington, DE 19801. Cert. of filed with Secy. of State, Div. of Corps., John G. Townsend Bldg., DCRA, 1100 4th Street, SW, G. Townsend Bldg., 401 Federal St., Form. filed with DE Sec. of State, 401 Corps., John G. Townsend Bldg., 401 Federal St., Ste. 4, Dover, DE Washington, DC 20024. Purpose: Ste. 4, Dover, DE 19901. Purpose: Federal St., Dover, DE 19901. 401 Federal St., Ste. 4, Dover, DE 19901. Purpose: Any lawful activity. Any lawful activity. Any lawful activity. Purpose: all lawful purposes. 19901. Purpose: Any lawful activity.

20 | Crain’s New York Business | February 20, 2012 CN014962 2/15/12 3:30 PM Page 1

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laminated tweed, created specifical- High-tech designers ly for him. Of course, such innova- tion carries a price.Ms.Smilovic es- timated that her polyurethanes cost Continued from Page 2 chain Olive & Bette’s, where Janu- four times as much as basic silk, and components of fabrics in the fall col- ary sales were up 11%, compared more than twice as much as wool, lection from The Row, which is de- with a year earlier. but that the result is worth it. signed by Mary Kate and Ashley Amy Smilovic, who designs the “You need to be targeting a cus- Olsen.The sisters included a tuxedo Tibi label, kept that in mind when tomer who is passionate about qual- shirt made out of chiffon with a putting together her new line. Half ity and new ideas and really wants to mink fur bib. of the fabrics she used were techno- shop you versus going to a Zara,”she logically enhanced materials from said, noting that Tibi’s dresses have “Anything goes” Italy, such as polyurethane coated inched up the price scale and now “Designers are putting chiffons with rubber or plastic. Similarly, range from $385 to $550.She added newscom bloomberg news with knits, with tweeds, with Alexander Wang, a designer known that some Chinese factories,notori- NEW CHAPTER: Amazon tapped veteran SOB STORY: Amazon CEO Jeff Bezos has crushed velvet—it’s anything goes,” for his edgy and modern looks, had ous for knockoffs, will need years to Larry Kirshbaum to lead publishing unit. made enemies in the book world. said Stacey Pecor,owner of boutique the majority of his fabrics, such as access such fabric technology. Digital images FASHION FORWARD Prints, which are also tough to knock off, since most are copyright- B&N versus Amazon ed, have moved beyond mere florals NEW MATERIALS:  and stripes. They’re more scientifi- Continued from Page 1 Officer Jaime Carey said the Man- Alexander Wang cally driven, evidenced by a pre-fall that the e-tailing giant’s money can’t hattan-based chain wouldn’t carry used materials collection from Proenza Schouler buy,chief among them a presence in the new titles because Amazon’s created for him. featuring Google Earth imagery. Barnes & Noble Inc.’s 700 brick- practice over the years of making ex- Diane von Furstenberg’s black-and- and-mortar stores. The bookstore clusive Kindle deals with authors white interlocking hands and Peter chain’s announcement last month “has proven that they would not be a Som’s cat patterns also bolstered the that it would not stock the new im- good publishing partner.” GRAND trend. print’s titles came as no surprise, but An Amazon spokeswoman did FANCY GRAPHICS: Diane “People used to cringe at [science it has nonetheless thrown a wrench not respond to a call for comment. FABRICS: Tibi von Furstenberg and technology in fashion],” said in the works big enough to hobble used rubber and featured new and Ms. Hartman. “Now they’re open- the Amazon machine. Last resort plastic coatings innovative prints in ing up to it—it’s cool.” Ⅲ Literary agents say that authors Some agents say that with no on some her fall lineup. garments. still want to see their titles on book- Barnes & Noble distribution, and LISTEN to a discussion at store shelves, no matter how many for as long as bookstores remain a CrainsNewYork.com/podcasts copies they sell as digital editions or crucial showroom for new titles, through Amazon.com. And though Amazon Publishing will be over- e-books are rapidly gaining ground, paying for books that the major what he’ll build on the lot but is in they currently make up only about houses can mostly live without. no rush to decide.“We bought it be- 20% of sales for the major houses. “They are a last resort,” said one Developers’ land grab cause it was a great opportunity and Amazon may be the dominant prominent agent. “We use them if the location was very unique.” player in print book sales, with 29% we can’t sell elsewhere.” Continued from Page 1 dustry—continues to shed employ- Other developers, including Mr. market share in 2011, according to Even so, Amazon plays a long kets and an increasing willingness ees. In the second half of last year, Sitt, are wasting no time at all. He Albert Greco of the Institute for game and has shown it doesn’t mind among lenders to loosen their purse that combination, along with fears has already hired architect Morris Publishing Research. But Barnes & losing money in its bid for market strings. of a European meltdown, hit the re- Adjmi to design a seven-story prop- Noble, with 17%, dominates the share. Meanwhile, some agents be- The number of sites over 10,000 covery in the commercial leasing erty with a twisted steel façade for brick-and-mortar world, and for lieve that Barnes & Noble’s policy square feet sold in Manhattan quin- market hard. Leasing volumes sank the Washington Street site.The de- now that makes it indispensable to will only drive more customers to tupled from a post-crash low point 31% in the last two quarters com- veloper plans to have retail shops in the bookselling equation. Amazon.com, and that Amazon in 2009 to 51 last year, according to pared with the previous two. the base of the building and either “The idea of what Amazon Pub- Publishing has the deep pockets to Massey Knakal Realty Services. The recent crop of buyers that an upscale office or hotel on the up- lishing can be is extremely powerful, make up for its bookstore deficit. Meanwhile, sales in the city—ex- has emerged recently, however, is per floors. but that was assuming the bookstore “If Amazon shows my client they cluding Staten Island—more than generally more experienced and less “We’ll design with the utmost proposition would be worked out,” will take steps to market that book doubled, to 142, over the same peri- leveraged, and looks to be far better flexibility,”Mr.Sitt said,noting that said agent Scott Waxman, who sold more aggressively than another od, while the average price per equipped to weather such problems. he believes either option will be a a book by legendary basketball publisher, I have a responsibility to square foot surged 38%, to $173.22. “Now you have to have a track success because creative companies coach Bob Knight to the imprint— my client to listen to them,” said Yet beneath that broad rise, the record and put in 40% to 50% in eq- crave office space in the meatpack- before Barnes & Noble made its an- David Black,who heads his own lit- market remains very spotty. In uity to qualify for a loan,” said Peter ing district, while retailers are keen nouncement. “If you take bookstore erary agency. Manhattan, for example, the total Hauspurg, chairman of Eastern on the area’s flood of tourists. distribution out, it’s certainly not In addition, Amazon Publish- number of sales is still far below the Consolidated. Sky-high pedestrian traffic is appealing.” ing will be getting some help from 75 to 80 in a typical year, while the Ironically, one of the factors also a key selling point of the space Mr. Waxman and other agents an unlikely quarter: independent average price slipped 17%, to helping to boost sales is an increas- he is preparing to build on the Fifth working with the new imprint be- bookstores. Their trade group, the $311.22 a square foot, over the past ing number of distressed properties, Avenue lot he bought for $132 mil- lieve an accord will be reached. But American Booksellers Association, two years. victims of the last boom and bust, lion,or $440 a buildable square foot, others insist that the last major recently announced that it won’t Massey Knakal Chairman coming onto the market—many of a price he considers a bargain. bookstore chain is engaged in a fight list the print editions on its Robert Knakal said that average was them at bargain prices. That in- “When was the last time there was a to the death, and Barnes & Noble e-commerce platform. Nonethe- likely depressed by a number of sales creased flow of troubled sites comes development site for sale on Fifth will never help its enemy. less, many indies, which collective- of smaller and less desirable loca- as banks are eager to shed some of Avenue?” he asks. ly had a 10% share of the print book tions. In contrast, in prime neigh- their failed deals. The risk is that bargains tend to Monopoly player market in 2011, will sell the books borhoods such as Chelsea and the draw crowds,and that could yet slow The Seattle-based e-tailer has in their stores. meatpacking district, prices are al- High Line bargain things down a bit as prices inevitably revolutionized the book industry “That argument [against selling most back to their boom levels. For Barclays Capital, for example, rise in the face of increased demand. since Jeff Bezos launched it in 1995. Amazon Publishing titles] makes a example, a site on West 24th Street sold a lot at 360 10th Ave. to Sher- “There is a lot of equity out there But Amazon has made enemies lot of sense to me, but I cannot ex- between Ninth and 10th avenues re- wood Equities last year for $43.5 chasing deals,” said Douglas Stein- with a pricing strategy that has of- plain that to a customer who wants cently sold for nearly $360 per million after the borrower failed to er, a developer whose family owns ten seemed less about making mon- the book,” said Neil Strandberg, square foot. At the peak of the mar- pay back the loan.Sherwood,which the Steiner Studios in the Brooklyn ey than hurting competitors. manager of operations at Tattered ket in 2007, an identically sized site paid cash, completed the deal in just Navy Yard, and who late last year Worried rivals see the new im- Cover in Denver. five blocks away fetched $380 a eight days, paying about $145 a snapped up a site in downtown print as part of the company’s bid for Though time is on Amazon’s square foot. buildable square foot for the site be- Brooklyn on Flatbush Avenue for a monopoly—as well as another tool side, it’s certainly going to have to “We are seeing some really high tween West 30th and West 31st $30 million.He plans to construct a to build market share for its Kindle wait. “It’s entirely possible Amazon prices being paid,” said Mr. Knakal. streets, across from the High Line. 52-story rental building on the lot. e-reader—despite the care Amazon thinks they’ll have the entire market Whether that can continue will The price was at least 19% below But while he is still interested in took to hire industry veteran Larry in the future,” said Michael Norris, hinge on further improvements in what the former owner paid when buying more sites, he notes that Kirshbaum as publisher and enlist a senior analyst at Simba Informa- the city’s economy. In recent he was assembling the site between there is more competition now that venerable trade house Houghton tion, which follows the book indus- months, job growth has been lack- 2005 and 2007,public records show. banks are more willing to lend Mifflin Harcourt as the print dis- try. “But it doesn’t work that way luster and is no longer running “We got a price that you can get again. Ⅲ tributor. now.” Ⅲ ahead of the national average. in a distressed situation,” said Sher- A Barnes & Noble spokeswoman Meanwhile, New York’s traditional wood owner Jeffrey Katz, who con- LISTEN to a discussion at declined to comment.In a statement to a discussion at engine—the financial services in- fessed that at this point he isn’t sure CrainsNewYork.com/podcasts last month, Chief Merchandising CrainsNewYork.com/podcasts

22 | Crain’s New York Business | February 20, 2012 CN014963 2/15/12 3:52 PM Page 1

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HOT JOBS EXECUTIVE INBOX Anne Fisher DIRECTOR, TALENT MANAGEMENT AND HUMAN RESOURCES ORGANIZATION The Children’s Dating app Aid Society is a hot item JOB DESCRIPTION Attract, develop and retain top talent LIKE MANY NEW YORKERS who put in grueling hours at the office, MOST IMPORTANT TASKS Strengthen human capital Clifford Lerner had little time for a management to improve social life. As an international organizational effectiveness equities analyst at Lehman Brothers from 2000 to 2005, “I CREDENTIALS NEEDED Senior HR and talent generalist; exceptional had to get up at 4:30 a.m. to be communication skills; business- at my desk by 6:00, so I could oriented, strategic planning; a look at what was happening in commitment to social change the overseas markets before the SALARY $125,000-$140,000 New York markets opened,” he recalled recently. “So I was RECRUITER Sandler Search usually in bed by 8 p.m.” Associates After five years, he said, “it DOWNSIDE Driving change with was time for a change.” So, limited resources together with his brother, Darrell, UPSIDE Building infrastructure to who had some previous help improve the lives of the e-commerce experience, Mr. city’s most vulnerable children Lerner founded Snap Interactive. The society provides support to Its original product: a dating site, more than 70,000 children and IAmFreeTonight.com, designed to their families each year in targeted help people with hectic schedules high-need NYC neighborhoods. make last-minute plans to go out —SUZANNE PANARA on the town. The site has since GOOD TASTE: evolved into its current form, Dan Amatuzzi EXECUTIVE MOVES chooses the 800 AreYouInterested.com, a types of wines Facebook application that serves Kurt Salmon: John available at Eataly. as an online meeting place for Karonis, 52, was singles from all over the world. promoted to deputy So far, 139,834 New Yorkers chief executive at the

buck ennis have used the app, and consulting firm. He was previously head 37,753 have downloaded the of the global retail GOTHAM GIGS AreYouInterested mobile app and consumer onto their iPhones. products group. Playing Cupid has paid off: Freshfields Bruckhaus Deringer U.S.: Launched with about $200,000 in Andrea Locklear, 52, joined the law firm seed money the brothers raised as U.S. chief operating officer. She was Heart of Glass previously chief legal personnel/ from friends, family and their own development officer at Sullivan & savings, Snap Interactive (OTCBB Cromwell. symbol: STVI) now has sales of Biaggi: Ron Hersh, 59, is the chief Dan Amatuzzi took his first sip of wine at age 6 at one of his about $22 million a year. Some executive of the new luggage brand, ‘I view family’s big Italian Sunday dinners while growing up in New Jersey. 55 million users have installed the which he founded. He was previously Facebook app, and about 35,000 chief executive at Rossetti, which he wine like His love affair with the drink deepened during a semester in also founded. singles a day put up new profiles. AppNexus: Bruce Florence while in college. So today, as wine director of Eataly, Mario The secret to riding the rocket, Cooperman, 53, joined music or Batali’s Italian food empire on lower Fifth Avenue, he is living his Darrell said, is to “focus on your the online ad agency dream. ¶ At just 28, Mr. Amatuzzi oversees a team of 15, works with core objectives, even if it means as chief financial art ... passing up some opportunities officer. He was 50 distributors and chooses the roughly 800 types of Italian wines that may look tempting.” Clifford previously chief that’s the that are sold in Eataly’s five restaurants and store.To get to this agreed: “We’ve been asked why financial officer at International beauty point, Mr. Amatuzzi, a part-time M.B.A. student at New York we don’t launch another app, like Securities Exchange Holdings. University, started at the bottom. He took a job as a busboy at Jean- a social game, since those can Community National Bank: Joseph of it’ be hugely profitable. But dating is Grunwald, 49, joined the bank as first Georges, just to tail the sommelier, before getting a job at Babbo as a what we know, so we’re continu- vice president and commercial loan glass polisher.Then he worked his way up through a number of ing to focus on that. If you stick officer. He was previously a vice Batali restaurants before he was asked to take the top wine job at with what you’re good at, every- president of business development at City National Bank. Eataly. ¶ “I view wine like music or art,” he said. “There are many thing else takes care of itself.” KeyBank: Jose Herrera, 56, joined the different interpretations: what someone will like, another person bank as senior vice president and senior DO YOU AGREE that managing fast relationship manager. He was previously won’t, and that’s the beauty of it.” ¶ His top recommendation right growth requires sticking with what’s senior vice president and head of the now? The Barbera d’Alba by Giaccoma Borgogno. made you successful so far? Tell us at See EXECUTIVE MOVES on Page 26 —miriam kreinin souccar www.crainsnewyork.com/execinbox.

February 20, 2012 | Crain’s New York Business | 25 20120220-NEWS--0026-NAT-CCI-CN_-- 2/17/2012 3:26 PM Page 1

RÉSUMÉ REVIEW Sweet on DailyCandy Is your job search all it could be? We ask the experts. E-newsletter exec over a million unique visitors today. told us that 75% of the people who From a social perspective, Twitter bought DailyCandy deal vouchers NAME BIANCA ASHLEY CASTILLOS bites into competition and Facebook were dusty corners, ended up buying rings at the sale. OBJECTIVE but we have now grown to over a To enhance my level of knowledge for my with brand overhaul million fans and followers. For rev- You started a small business program upcoming position while contributing to the enue, when I started, it was email in 2010. Has it been successful? fulfillment of the company’s goals advertising only; now we have email It’s our “Start Small, Go Big” pro- BY ADRIANNE PASQUARELLI advertising, Web advertising, social gram to discover young entrepre- PROFESSIONAL EXPERIENCE advertising and our social com- neurs in four categories: fashion, Surgical Auto Repair Inc., Nov. 2010-July 2011 wo and a half years into her merce business, DailyCandy Deals. food and drink, beauty and home. Service writer/receptionist post as executive vice pres- We pair those winners with success- Ordered car parts, took inventory, assisted mechanics, helped ident and general manager DailyCandy was a pioneer when it ful established mentors,like Marcus customers, created bills, calculated weekly stats of DailyCandy, Beth launched. But now the field is littered Samuelsson of Red Rooster TEllard has been busy upgrading the with similar companies. How do [restaurant] and [designer] Simply Clean Janitorial Services, May 2006 -Oct. 2010 12-year-old fashion e-newsletter.To you compete? Charlotte Ronson.The pro- Supervisor keep pace with encroaching compe- The overcrowded space gram underscores the Created schedule for weekly cleanings, filed and did bookkeeping tition from the likes of Gilt Groupe actually helps us. We brand’s ability to do good EDUCATION and Refinery29, she’s working on a stand out through the in this world. We’re now brand face- strength of our brand in our third year. SUNY Institute of Technology, Utica, N.Y., mechanical engineering lift and seek- and the distinctiveness technology, Aug. 2008-May 2009 ing fresh rev- of our curating. Word- What’s ahead for the company High School for Leadership and Public Service, June 2008 MOVERS & enue streams. of-mouth has always over the next year? Résumé appears in condensed form. SHAKERS There have been a great It’s a big year. We’re going EXPERT ADVICE been bumps strength of Dai- to be launching a new vi- in the road: lyCandy, and sual identity with a new Ms. Castillos has great work experience. But it is unclear what kind of job Beth The company that started logo, a new color palette she is looking for now and how her experience is relevant. The objective Ellard shuttered its with email, and a new illustrator statement at the top of her résumé should be more precise. It should sample-sale but has across all of our plat- explain the job she is targeting and what qualifies her as a candidate. A site, Swirl, now tran- forms. We’re also résumé must also be free of typos and grammatical errors. There are many in December, sitioned launching a mobile app of both, and that will introduce real concerns about her attention to detail. putting that business under Daily- to social. and relaunching the Another source of confusion that will trip up the reader: Did she complete Candy Deals. We did website. Until recently, a degree or certificate program at SUNY-Utica? If not, education should a deal DailyCandy was a fair- follow her experience, since it is not clear what her major was and how it How has the site evolved since you with ly one-way brand—our relates to her career goal. came on board? Michael editors broadcast their —roy cohen, career counselor and executive coach When I joined DailyCandy [in C. Fina to curated picks to the 2008], subscriptions were growing provide early community. But we To contact this candidate e-mail [email protected]. at 8% a year. In the last three years, access to an en- want to engage our To be featured, go to www.crainsnewyork.com/section/resume_review. we’ve grown over 20% a year. We gagement-ring community in a two- have scaled our Web business to sample sale. They way dialogue. Ⅲ

EXECUTIVE MOVES global institutional trading network as head of U.S. sales and trading operations. She was previously a senior Continued from Page 25 vice president of transition services and North America public-private senior vice president of algorithmic partnerships and municipal trading services at Investment infrastructure group at Commerzbank. Technology Group. Hudson Legal: Leah EMI Music North America: Ron Pence, 45, Guggenheimer, 43, joined the music company as head of the joined the discovery brand partnerships division. He was firm as senior vice previously vice president, strategic president of e- alliances, at Live Nation Entertainment. discovery services. She CBS Interactive Music Group: Richard C. was previously a Sutton, 53, joined as global head of leverager at sales. He was previously senior vice Bridgewater president of consumer markets at Associates. WebMD. Shelley Brown, 35, joined as e-discovery Jun Group: Stacy Freedman, 33, joined the practice leader. She was previously social video platform as director of sales, discovery practice manager at a newly created position. She was DiscoverReady. previously sales director at Brand.net. Emanate: Trey Ditto, 33, joined the Pace University: Toby public relations agency as a vice R. Winer, 59, was president. He was previously managing promoted to executive director at KCSA Strategic vice president, chief Communications. financial officer and Greg Jawski, 32, joined as a vice treasurer. She was president. He was previously a vice previously senior vice president at Ogilvy PR. president, finance, and Ryan Murphy, 31, joined as a vice treasurer. president. She was previously a vice Weidlinger Associates Inc.: Jeffrey Hu, 44, president at DeVries Public Relations. was promoted to principal at the NBC 4 New York: Monica Rego, 48, was structural engineering firm. He was promoted to vice president of human previously an associate principal. resources. She was previously director of George Pappas, 53, was promoted to organizational development and principal. He was previously an associate strategy for Telemundo Network, principal. stations and international, in Florida. —callie eidler Concentric Pharma Advertising: Bethany Sardinha, 30, joined the health care EXECUTIVE PROMOTIONS advertising and promotion agency as The fastest way to get an announcement into vice president, account director. She was Crain’s is to submit online. Fill out the form previously vice president and account at www.crainsnewyork.com/section/ supervisor at AgencyRx. executive_moves. The Executive Moves column Liquidnet: Lugene Forte, 49, joined the is also available online.

26 | Crain’s New York Business | February 20, 2012 20120220-NEWS--0027-NAT-CCI-CN_-- 2/17/2012 3:28 PM Page 1 chemex / INSATIABLE CRITIC Gael Greene WEDNESDAY, FEBRUARY 29 flickr.com The Financial Women’s Association will THE host a panel discussion on THE CURRENT INVESTMENT CLIMATE IN CHINA. D.J. Glannon, partner at Deloitte and deputy WEEK managing partner of the U.S. Regulatory A new direction at and Public Policy group, will moderate a talk on the current state of China’s AHEAD economy, capital markets trends and activity, investment outlook and regulatory climate. The discussion will North End Grill FEB. 27-MAR. 4 take place at Deutsche Bank, 60 Wall St., 47th floor, from 5:30 p.m. to 8:30 p.m. Tickets are $40 for association CONFERENCES members and $60 for nonmembers. To Danny Meyer’s latest AND SEMINARS get more information and to register, TUESDAY, FEBRUARY 28 visit www.fwa.org. WHAT HE’S is creative and vibrant, Join Roy Fenichel for AIR RIGHTS DEALS: BUYING, SELLING AND TRANSFERRING WEDNESDAY, FEBRUARY 29 READING but a work in progress DEVELOPMENT RIGHTS IN NYC, an Join MANHATTAN DISTRICT ATTORNEY accredited continuing-education class CYRUS R. VANCE JR. for a breakfast LOUIS SHAPIRO, president and t’s freezing at the checkroom for lawyers. It will provide a conversation benefiting De La Salle chief executive of the Hospital for as I surrender my coat at comprehensive review and analysis Academy, a private school in Manhattan Special Surgery, heads a world Danny Meyer’s new North of air rights, including the history and for academically talented, economically development of its legal concept, the disadvantaged students in grades six leader in orthopedics, End Grill, but the bright I role of the NYC Zoning Resolution through eight. The breakfast will take rheumatology and rehabilitation. welcome from a couple of rights deals and much more. The class place at Citigroup, 601 Lexington Ave., But books on health care aren’t cute young things at the podium is will take place at the U.S. Trust from 7:30 a.m. to 9 a.m. Tickets are karjean levinekarjean necessarily his first choice. instantly warming. The glow of the SUSHI-BAR SPARKLE: Hamachi sashimi Building, 114 W. 47th St., from 8:30 $100. To get more information and to Mr. Shapiro usually digs into open kitchen strikes me as cunning- a.m. to noon. The class is free for lawyers purchase tickets, call (212) 316-5840 or both a business book and a ly bright but not glaring. I love the with preregistration. To get more visit www.nycharities.org. fun read, but admits he can NORTH END GRILL information and to register, call snappy black-and-white fixtures, never keep up with his wife, who 104 North End Ave. (646) 695-7925 or send an email to like umbrellas overhead. So I’m al- TUESDAY, FEBRUARY 28 plows through several books a ready smiling. (646) 747-1600 [email protected]. www.northendgrillnyc.com Networking for Professionals will host a week. His current favorites are Six of us are seated at a small TUESDAY, FEBRUARY 28 SHAKERS AND STIRRERS business Steve Jobs, Walter Isaacson’s round, facing a wall of rough plank- The New York Public Library presents networking event at O’Brien’s Irish Pub biography of Apple’s founder, ing—reclaimed Wyoming snow NETWORK YOUR WAY INTO A JOB . Instructor and Restaurant, 134 W. 46th St., from and The Litigators, by John fence. I feel myself captured, drawn CUISINE American David Lee will discuss how to develop a 6 p.m. to 8 p.m.Tickets are $10 for new way of networking that will enable members and $15 for nonmembers in Grisham. into the fantasy here, the spiff of the PRICE RANGE $19-$44 design, the cozening Pan Am stew- attendees to interact with others more advance, or $20 for all at the door (cash He loved the Jobs bio for its ardess airs of the servers, as if I’m in SERVING Lunch Mon.-Fri., dinner confidently.The free seminar will take only).To get more information and to insights into Mr. Jobs’ a time warp.It’s contagious.Some of seven days place at the Science, Industry and register, visit www.networkingfor upbringing as well as its Business Library, 188 Madison Ave., professionals.com. relevance to Mr. Shapiro’s us are contemplating Scotch by the RESERVATIONS Suggested from 6 p.m. to 7:30 p.m. For more wee dram (1.5 ounces) from the CULTURAL EVENTS hospital. “Steve Jobs was just NOISE LEVEL Lively information, call (917) 275-6975 or visit house’s extensive collection. www.nypl.org. TUESDAY, FEBRUARY 28 relentless. His strategy was to develop a product that excelled in We settle on $13 creations instead, I can’t wait to return. The Brooklyn Chamber of Pick my friends drawn to Scotch cocktails: TUESDAY, FEBRUARY 28 Commerce presents a its technology and total user I will definitely go back. of the a Blood and Sand with cherry brandy NYcrew offers LEVERAGING YOUR BLACK HISTORY MONTH experience, and he wouldn’t and orange juice,and a Gaslight,with I’ll let them simmer awhile. CONNECTIONS IN TODAY’S ECONOMY, CELEBRATION honoring week settle for anything less.” Pamela Green, executive Drambuie and curaçao. My wonder- NO HATS Never again. featuring Collete English Dixon, vice —BARBARA BENSON ful Jack Rose, though, is not boozy president of transactions at Prudential director of the Weeksville Real Estate Investors and the 2011 Heritage Center; Elizabeth Kennedy, enough to blur my impression that CREW Network national president. principal of Elizabeth Kennedy acclaimed dancers Rafaela Carrasco, chef Floyd Cardoz’s vividly creative slightly-too-cooked coddled egg rid- The event will take place at Crowell & Landscape Architects; and the Magnolia Manuela Carrasco, Carmen Cortés and menu is definitely still a work in ing on grits stuffed with peekytoe Moring, 590 Madison Ave., 22nd floor, Tree Earth Center. The event will take Olga Pericet. The event will showcase progress: remarkable ups, alarming crab and is the best of the three from 6 p.m. to 8 p.m. The program is place at the Akwaaba Mansion Bed and four unique nights of dance displaying downs,too-long waits for the food,an I tasted. The slow-poached egg with free for NYcrew members and $75 for Breakfast, 347 MacDonough St., different styles, ranging from the excess of saltiness. paddlefish caviar and bottarga needs nonmembers with advance registration; Brooklyn, from 6 p.m. to 8:30 p.m. It is Gypsy roots of flamenco to more I can’t quite decide how I feel another element to be more than just discount tickets are also available for free for chamber members and $50 for contemporary innovations. The about the onion rings we order from assembled ingredients. And the lob- students and other CREW chapter nonmembers. To get more information performances will take place at City and to purchase tickets, call the bar menu. The frying is perfect; ster omelet is, surprisingly, just a lob- members. To get more information and Center, 131 W. 55th St., at 8 p.m. to register, visit www.nycrew.org. (718) 875-1000, ext. 132, or visit Thursday through Saturday evening, the pebbly batter stays glued. Some- ster omelet. Roasted mushroom and www.ibrooklyn.com. and 7 p.m. on Sunday evening. thing about the flavor gives me pause. kale “Risoato”—got that? Oats, not Tickets start at $35. To get more But I’m clear on the pumpkin-crab rice—tastes healthy, but at a price. The Retail Marketing Society presents THURSDAY, MARCH 1, information and to purchase tickets, call soup—not enough pumpkin essence. I suspect the cayenne and papri- THE CONSUMER IS NOT DEAD! Marni TO SUNDAY, MARCH 4 (212) 581-1212 or visit www.nycity I’m put off by the almost leathery ka, maybe even the dried mango Shapiro, managing partner of the Retail New York City Center presents center.org. dough of the fiercely salty bacon/ powder, intensifies the saltiness of Tracker, will share insights about today’s FLAMENCO FESTIVAL 2012, showcasing —suzanne panara consumer.The luncheon seminar will maple-syrup pizza from the bar the Thrice-Fried Spiced Fries.These To view Crain’s classified events listings, go to www.crainsnewyork.com/events menu. Still, hamachi sashimi has are crisp on the outside and soft with- take place at Arno Ristorante, 141 W. 38th St., from noon until 2 p.m. sushi-bar sparkle, and remarkable in. I probably ate 20 or so trying to The event is $55 for society members seaweed salad alongside. I force my- decide why they weren’t outrageous- and $75 for nonmembers.To register self to put back a third forkful so my ly fabulous. Not crisp enough, and to get more information, call pals can taste, too. Shaved turnips, maybe.They must be eaten hot. (201) 692-8087 or visit www.retail fennel and pecorino salad with black- with ginger marketingsociety.org. pepper vinaigrette make a brilliant ice cream is our table’s favorite toss of salad,and I’m pleased with my dessert over the rather restrained WEDNESDAY, FEBRUARY 29 choice of escarole, endive and radic- Join the Association for Corporate North End Eccles , with Mont- LEAPGROWTH: ACHIEVING chio tossed with blood orange and Growth for gomery cheddar in too-thin slices GROWTH IN CHALLENGING TIMES. During Marcona almonds as my entrée. alongside. The lemon pie this event, attendees will explore the Cardoz himself comes to our table looks like Björk floating away on an strategies companies are employing to just after the halibut with pine nuts, ice floe. I want more lemon intensity achieve outstanding growth despite green raisins and clams. “I cooked and don’t need the candied almonds. economic and industry challenges. that for you,” he says to me. And in- Of course I’ll be back. It’s exciting Discussion points will include building deed the fish is delicately cooked,just that Cardoz is inspired by the chal- brands, marketing and sales the way I like it. He seems clearly ex- lenge of cooking beyond the Indian effectiveness, and new product hausted and agrees with our compan- fusion of Tabla.He needs to outmus- development. The event will take place at the Roosevelt Hotel, 45 E. 45th St., ion, Barry Wine, chef of the fabled cle the temperamental custom stove. from 5 p.m. to 8 p.m. The cost to attend Quilted Giraffe, that the complicat- He needs candid tasters and time. is $150 for members and $200 for R ed grill-oven takes time to master. nonmembers. To get more information Of the five egg dishes catering to Copyright © 2012 by Gael Greene. and to register, call (212) 489-8700 or our town’s love affair with them, a Syndicated by www.insatiable-critic.com. visit www.acg.org/events.

February 20, 2012 | Crain’s New York Business | 27 Project2:fp template.qxd 2/14/12 4:39 PM Page 1

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