ENGAGEMENT RINK Most popular places to pop a certain CRAIN’S® question NEW YORK BUSINESS FPO PAGE 25
VOL. XXX, NO. 6 WWW.CRAINSNEWYORK.COM FEBRUARY 10-16, 2014 PRICE: $3.00 LICH sale in limbo as losses mount
Legal challenges ice effort to right-size Brooklyn hospital that exists in name only
BY DANIEL GEIGER
Talks late last week broke down to set- tle a lawsuit that has barred SUNY Downstate Medical Center from sell- ing money-hemorrhaging Long Is- land College Hospital, casting doubt RIGHT PLACE, on whether SUNY could even offload RIGHT TIME: the Cobble Hill,Brooklyn,complex to The firm of Vincent one of four bidders Pitta, Robert Bishop and Jon Del Giorno seeking to redevel- op it into medical $15M (from left) and AMOUNT that others allied with facilities and af- Long Island winning candidates fordable housing. College Hospital could benefit from That develop- loses each month the city’s upended ment, occurring political order. late Friday, is the latest in a saga that 500 NUMBER OF has so far cost tax- LAYOFFS at SUNY payers hundreds of Downstate as a millions of dollars. result of funds If a settlement being diverted to can’t be reached by LICH Tuesday, SUNY Downstate, the $200M state-owned med- LOSS that SUNY City Hall’s Downstate will City Hall’s ical school and be left with even hospital operator, after it sells the will have to defend hospital itself in state Supreme Court in a case presided over by a former newnew ‘in’‘in’ crowdcrowd labor-union attorney, Judge Johnny Lee Baynes, who has blocked SUNY from selling the complex for the past Lobbyists behind BY CHRIS BRAGG who helped pave her path to victory, that year. might as well be the new mantra when it “This has been very costly for us,” the campaigns of In a packed Bronx auditorium one recent comes to signing clients. said H. Carl McCall, chairman of evening, hundreds of locals gathered to In the city’s radically new political or- SUNY’s board of trustees. “It was a ascendant power celebrate the election of the first Latina der, even the so-called permanent govern- mistake for SUNY to buy [LICH].” brokers are now City Council speaker, Melissa Mark- ment will see a shift. And lobbyists’ reput- The current impasse only under- Viverito, repeatedly chanting “¡Sí, se ed closeness to Mayor Bill de Blasio, scores that point. SUNY officials had puede!” For the lobbyists in the crowd See CITY HALL on Page 24 engaged in a whirlwind effort in recent poised to cash in weeks to sell the medical complex.The four potential buyers qualified for a fi-
buck ennis See LICH on Page 22 06
5 REPORT SMALL BUSINESS THE LIST Overseas markets beckon. Plus: How NY area’s largest M&A crowdfunding helps women PAGE 13 deals PAGE 16 NEWSPAPER 71486 01068 0 EDITOR’S NOTE
Traffickers FYICRAINSNEWYORK.COM So there on the TV news the Sunday they found the body of Philip Seymour Hoffman was an New looks on runways employee of a small business in my at Fashion Week West Village neighborhood who described the actor as a regular ew York Fashion Week kicked off last customer of the establishment. I week with a clunky snow boot rather have good reason to believe that than a dainty stiletto as eager Glenn Coleman N not a word of it was true, but my fashionistas navigated the city’s snow and slush reaction to the on-camera to attend the runway shows of brands such as BCBG Max Azria Nicole Miller comments was more eye-roll than outrage. You see, I and . ¶ With apparel had texted my Crain’s Morning 10 crew to make sure sales stagnant and spring several snowstorms the Monday edition of our 8 a.m. email news away, the retail industry certainly needs an newscom handcrafted summary included a link to the 40 Under 40 profile injection of energy. Industry insiders predict such action might come in the form of and artisanal looks with Navajo and Western influences of Mr. Hoffman that we had published in 2004. . However, trends from seasons past, like There, readers could rediscover what kept the then- grunge, will also continue, as evidenced by the gothic and oversize looks that fashion house Nicholas K Oscarless actor, director and board member of the walked down the runway. ¶ In recent seasons, venues have become quite widespread for generates an estimated $865 million in economic activity off-Broadway Labyrinth Theater Co. rooted in New the semiannual event, which for the city. York, not L.A. Here, he told us, “I’m less worried In fact, some of the 116,000 attendees prefer to live-stream shows from the comfort of their about status, about where my career is at.” At least homes via the Internet, rather than splurge on Uber cars to trek out to Brooklyn, where edgy Alexander Wang my attempt to generate business off the sad news of a fashion darling is hosting his fall 2014 show. ¶ The real bellwether for fall styles, Marc Jacobs celebrity overdose was based on something true: Mr. however, will be , whose show is this Thursday. It could be the last Big Apple Hoffman did sit for an interview; he did come into appearance for the celebrated designer—Mr. Jacobs is considering moving his show to Paris as he Louis Vuitton our newsroom to have his photograph taken. Still, rejiggers his namesake label following his recent departure from . that West Village business and I were both guilty of —adrianne pasquarelli something. Call it a “see-lebrity” complex. New York AIRPORT UPGRADES TO TAKE OFF. The ued at more than $600 million. ... offers plenty of places where superstars play among Port Authority of New York and New DE BLASIO NAMES FINAL DEPUTY. HOORAY! us mere mortals. Fools that we be, we note where Jersey has earmarked $8 billion for Richard Buery, CEO of the Chil- RUSSIAN POLITICAL OUTCASTS from the improvements of the region’s three dren’s Aid Society and a Crain’s 40 punk band Pussy Riot appear and they live (see? Right down the street!), where they largest airports as part of its $27.6 bil- Under 40, was appointed deputy proselytize in New York City. shop (see? Totes his own groceries!), what they eat or lion, 10-year capital plan. Upgrades mayor for strategic initiatives.He will drink (wait, didn’t he just finish rehab?).That a include the rebuilding of La- spearhead the mayor’s plan for uni- Guardia’s main terminal building versal prekindergarten. … NEW fantastic talent lives nearby, grants you a nod in the and a $1.5 billion extension of PATH DOWNTOWN BOOSTER. Former City checkout line at D’Agostino, obviously confirms train service at Newark Liberty air- Councilwoman Jessica Lappin was how intelligent you were to buy your expensive port. … TOLL RELIEF. Staten Island named president of the Alliance for apartment, how savvy you were to ask for the same residents using E-ZPass to cross the Downtown New York, the lower Verrazano-Narrows Bridge will pay Manhattan group that oversees the quadruple espresso he always ordered. And it works. $5.50, down from as much as $6.36, city’s largest business improvement OY VEY! That West Village business saw a spike in customers BAM PREZ TO SING FINAL under a new plan announced by Gov. district. … RUSSIAN OFFICIALS BLOCKED delivery during a snowy slice of February. Our Web profile of Andrew Cuomo. Commercial trucks NOTE. Karen Brooks Hopkins will of 5,000 single- Mr. Hoffman saw a near-25-fold increase in page would see tolls drop step down as head of serve to $59.98 from the Brooklyn Acade- containers of views from the typical week. ‘I must be in New York- $73.52. … MORGAN my of Music next produced Chobani STANLEY SETTLES. some Third year after 35 years yogurt to the U.S. The investment firm team in the Sochi with the organiza- Olympics. THIS WEEK IN CRAIN’S has agreed to pay World tion. A search com- $1.25 billion to the country’ mittee has been IN THE BOROUGHS------3 Federal Housing Fi- —Vice President Joe Biden, formed to find her nance Agency to re- successor. Crain’s gain 18- to 49-year-old viewers. … IN THE MARKETS------4 describing LaGuardia solve claims related to airport during a speech on named Ms.Hopkins, R.I.P. PHILIP SEYMOUR HOFFMAN. THE INSIDER ------6 the sale of mortgage- how the nation’s 62, one of the city’s The 46-year-old, Academy Award- backed securities. … most powerful winning actor died of what appeared BUSINESS PEOPLE ------7 infrastructure is crumbling MICROSOFT CHECKS women in 2013. … to be a fatal overdose. Four people REAL ESTATE DEALS ------9 IN WITH FOURSQUARE. The technol- CBS SCORES THURSDAY-NIGHT have been arrested in connection FOOTBALL. OPINION ------10 ogy giant has bought a $15 million The TV network will pay with the heroin police say was found stake in the location-based social- nearly $300 million to air eight early- in his Greenwich Village apartment. GREG DAVID------11 media app. As part of the deal, loca- season football games, beating out The filmmakers behind Hunger CLASSIFIEDS ------18 tion data from Foursquare will appear Fox Sports 1 and NBC Sports Net- Games: Mockingjay Part 2, which he REPORT: SMALL BUSINESS in a voice-activated, Siri-like assis- work, which reportedly bid on the was in the middle of filming, plan to FOR THE RECORD------21 tant named Cortana, which will be package. Though this will interrupt digitally re-create the late actor in Lauren Levy of Magnificent NEW YORK, NEW YORK ------25 added to Windows phones. one of its strongest prime-time yet-to-be-shot scenes. Baby turned to exporting to Manhattan-based Foursquare is val- evenings, the games could help CBS —emily laermer boost profitability. P. 13 SOURCE LUNCH------26
CORRECTIONS (SEE PAGE 22) STORIES TO WATCH THIS WEEK vol. xxx, no. 6, february 10, 2014—Crain’s New York Business (ISSN 8756-789x) is published weekly,except for double issues the weeks of June 23,July 7,July 21,Aug.4,Aug.18 and Dec. 22, by Crain Communications Inc., 711Third Ave., New York, NY 10017. Periodicals postage paid at New York,N.Y.,and additional mailing offices.Postmaster: Send address changes to: Feb. 10: Bill de Feb. 10-11: Feb. 13: Feb. 16: American Crain’s New York Business, Circulation Department, 1155 Gratiot Avenue, Detroit, Blasio delivers his Westminster Greentech International Toy MI 48207-2912. for subscriber service: Call (877) 824-9379. Fax (313) 446-6777. $3.00 a copy, $99.95 one State of the City Kennel Club Investors Forum Fair at the Javits year, $179.95 two years. (GST No. 13676-0444-RT) ©Entire contents copyright 2014 by Crain Communications Inc. All rights reserved. address. Dog Show Center
2 | Crain’s New York Business | February 10, 2014 ROBERT RAINFORD IN THE teaches the programming BOROUGHS language Scratch to sixth-graders at BRONX P.S./I.S. 30 in Bay Ridge, Brooklyn, but he’s licensed as a science teacher. Post office’s fate clouds comeback Local leaders want an economic engine but fear yet another self-storage facility
BY THORNTON MCENERY
A block-long landmarked building astride a key corner in the South Bronx is up for sale, and local offi- cials are scrambling to make sure that whoever buys the property will play a positive role in the area’s against-the-odds renaissance. The countdown to the decision began last March when,as part of its effort to close a $20 billion budget gap, the U.S. Postal Service ulti- mately decided to put the Bronx General Post Office at 558 Grand Computer science fiction Concourse on the auction block. By virtue of its sheer size and location buck ennis on the corner of bustling East 149th Street, the ornate four-story build- If tech jobs are the future, What is not so well known is that there are no during the next decade. ing has become a focal point for computer-science teachers in New York—at Out of 75,000 teachers in New York City those trying to inject new life into why are there no comp-sci least not on paper. public schools, fewer than 100 teach computer the borough’s economy. Local lead- teachers in public schools? The state does not recognize computer sci- science. While state officials are trying to mod- ers express concern that the private ence as an official subject, which means that ernize the education syllabus, industry leaders bidding process leaves too little teachers do not get trained in it while they are have been filling in the gap with a handful of in- room for the community to influ- BY MATTHEW FLAMM becoming certified as instructors. novative efforts that illustrate the ad hoc nature ence the selection of the winning That’s one reason public-school students have of the solution to the shortfall of qualified teach- bidder, much less what use it will It is widely acknowledged that for New York little exposure to the skills needed to snag com- ers.But it will be years before all 800 of New York make of the property. City to prosper in the 21st century, its middle puter-software programming jobs, which are ex- City’s middle and high schools can offer even a “The south end of the Grand and high schools must teach computer science. pected to grow faster than any other profession See COMPUTER on Page 20 See ALARM on Page 12
On Wall St., dead companies STATS AND THE CITY by Nicholas Wells PARADE MANIA: Mayor Bill de Blasio will not march in the St. Patrick’s Day Parade because of its exclusion of gay and lesbian groups. It’s the first time live on as zombie stocks since 1993 that a mayor will not participate in the event.
TOTAL operating expenses for St. Patrick’s Day New SEC regs as “simply an old-fashioned grifter.” ney in the Manhattan law-firm of- Parade Inc., the Bronx-based organizer of the A lawyer for Mr. Kelly did not re- fice of Richardson Patel who spe- march,$645,529 in fiscal 2012 may unleash more turn calls for comment. cializes in helping small businesses Yet none of those setbacks could raise financing. pump-and-dumps quite finish off Wwebnet. Its stock Other New York-area compa- NUMBER of parades that have gone up the “Canyon of Heroes,” continued to trade occasionally. As nies caught in the dragnet include 205running from the Battery to City Hall, since 1886 recently as one day last November, Estore of N.Y., a Brooklyn-based BY AARON ELSTEIN 10,000 shares changed hands at a plasma-TV retailer; brokerage First NUMBER of arrests at the 2007 Puerto Rican Day Parade, penny apiece. Montauk Financial of Red Bank, amid reports that the Latin Kings gang had joined the event Say hello to Wall Street’s version of The story of Wwebnet high- N.J.; and insurance seller Walker 208 The Walking Dead. lights a quirk about the stock mar- Financial of Garden City, L.I. Wwebnet Inc. was a tiny ket. Even after failed companies SEC officials wouldn’t comment WEIGHT, in pounds, of rubber from Macy’s Thanksgiving Day Manhattan-based software compa- meet their demise, they often con- publicly on last week’s purge, which 650Parade balloons that was donated to the war effort during WWII ny that never generated a dime in tinue to exist on paper and enjoy af- was done with assistance from the operating revenue—forget about terlives as zombie stocks. In an at- FBI. Yet civil and criminal authori- AMOUNT of money spent profit—before going dormant back tempt to clear markets of the ties clearly have zombie stocks in on overtime for NYPD in 2008, when it stopped filing reg- undead, officials at the Securities their sights because the shares are officers$2.9M covering the 2013 West Indian Day ulatory reports on its financial con- and Exchange Commission last fodder for one of the oldest stock- parade in Brooklyn dition. In 2012, Chief Executive week suspended trading in Wweb- market swindles around, the “pump Robert Kelly was charged with di- net and 254 similar stocks. and dump.” verting $2 million worth of investor “Last week’s sweep is a statement The scam works like this: Rogue Sources: St. Patrick’s Day Parade Inc. 2011 Form 990, Downtown Alliance, The New York Times, Macy's, money to rent an Upper West Side by the SEC that they’re watching a brokers, not unlike the character Independent Budget Office apartment, trade options and do part of the market that historically played by Leonardo DiCaprio in istock image other personal things.U.S.Attorney hasn’t gotten much attention,” said the Martin Scorsese film The Wolf of ADDICTED TO NUMBERS? GET A DAILY DOSE AT @STATSANDTHECITY Preet Bharara described Mr. Kelly David Feldman, a securities attor- See ZOMBIE on Page 20
February 10, 2014 | Crain’s New York Business | 3 IN THE Forget DiMaggio: Now this MARKETS is an unbeatable record by Aaron Elstein
Starting in 1983, it spent 1,011 days Grace entities through bankruptcy W.R. Grace & Co. in bankruptcy court,and seven short court for the duration. Kirkland finally emerges years later, it did it again for 865 partner Todd Maynes’time seems to days. Add the nonconsecutive peri- have been the most valuable of any- from 13 years ods together, and Continental spent one working on the case: He in bankruptcy court 1,876 days in bankruptcy. That charged $1,150 per billable hour in makes it the runner-up to Grace. October, according to bankruptcy Lehman Brothers took 1,268 court documents. BY AARON ELSTEIN days to emerge from bankruptcy. MF Global, 522 days. For General Big fees Chemicals conglomerate W.R. Motors, only 40 days. Others that feasted on big fees Grace & Co. is best known locally Grace filed for Chapter 11 all include Blackstone Group’s restruc- for its distinctive 42nd Street build- those years ago because it faced an turing team ($16 million) and law ing with the curved façade over- estimated 65,000 asbestos-related firms Stroock & Stroock & Lavan looking Bryant Park. But Grace has claims. Resolving all the litigation ($13 million), Anderson Kill ($9.3 just pulled off something that’s ar- both hindered Grace’s exit from million) and Kramer Levin Naftalis guably even more impressive: It has bankruptcy and helped enrich & Frankel ($5 million).
survived the longest trip to bank- Accounting giant Pricewater- istockphoto ruptcy court ever. houseCoopers sought about Continental’s $460,000 just for its work last The contenders October. Last week, the company 1,876 days in One audit partner there charged Apollo takes walk emerged from bankruptcy nearly 13 $1,106.17 per billable hour for his years after filing for Chapter 11. Chapter 11 pale time, but the bulk of the work was This record for corporate endurance done by rank-and-file employees, on the cheesy side will likely never be approached, as in comparison to such as a senior audit associate who unbreakable as Joe DiMaggio’s 56- Grace’s 4,691 in October invested 219.7 hours in game hitting streak or Wayne Gret- the Grace case. That suggested she Chuck E. Cheese’s zky’s 50 goals in 39 games. worked on the matter exclusively 10 his reporter hasn’t visited since Precise records for the longest hours a day—if she took off week- attending a friend’s birthday party back in about Chapter 11 case ever are tough to ends, which seems unlikely, consid- 1979. Yet that after-school affair left vivid memories come by,but a 2006 New York Times ering the stakes. T of giant puppets belting out “Happy Birthday” onstage while article described United Airlines as some 40 different advisers, who Though Grace may be done with emerging from bankruptcy after a pocketed fat sums guiding the Chapter 11, the asbestos-related we fourth-graders wolfed down pizza and played Space “record 1,150 days.” That is only company and its creditors through lawsuits that had been held up by the Invaders until the well of tokens at last ran dry. one-quarter of Grace’s 4,691 days in the bankruptcy. bankruptcy court will resume. But Now the dark suits at Apollo Global Management are bankruptcy. Law firm Kirkland & Ellis seems these claims will now be made to a taking over. Last month, the private-equity firm agreed to On the other hand, Continental to have led the way, collecting $147 trust created by the bankruptcy Airlines sank into bankruptcy twice. million in fees for helping steer 62 plan. Ⅲ buy the restaurant chain in a $1.3 billion leveraged buyout. On Monday, investment bankers at Credit Suisse, Deutsche Bank, UBS, Apollo and Morgan Stanley reportedly will start marketing $305 million in bonds to fund the deal. Let’s sink our teeth into the economics of this LBO.
The happy news is that Chuck E. bid) cigar-toting mouse with a New Cheese’s is considerably more prof- Jersey accent.In came a leaner rodent itable than most other restaurants. with an electric guitar and no tobac- Its parent, CEC Entertainment, boasted co products. net margins of about 6% last year. Apollo hasn’t revealed much That’s triple the margins pulled in by about plans for its newest holding, Darden Restaurants, which runs Red which consists of 577 owned or Lobster and Olive Garden. Pizza, of franchised restaurants in 47 states course,is a lot cheaper and simpler to and 17,600 employees. But in its prepare than seafood, and Chuck E. most recent annual report, CEC Congratulations to Elite SEM & Abacus Group Cheese’s clientele isn’t the most de- Entertainment said it plans to ex- manding when it comes to ingredi- pand overseas. Already the compa- ents—or taste, for that matter. ny has brought its brand of dinner What’s more, the business entertainment to places like Mexico doesn’t require a ton of investment. and Saudi Arabia. Maybe the world Game and ride equipment at the is ready for Chuck E. Cheese per- restaurants have average useful forming in Mandarin. lives of four to 12 years,while “non- Apollo is financing the LBO technical play equipment” lasts 15 with about $300 million in cash and to 20 years on average. is borrowing the rest. That suggests Still, there are signs that parents CEC’s debt load as a private compa- are growing a bit fatigued with this ny will be triple the amount it carried BERNSTEIN 37-year-old franchise. At about when public. Presumably, that will REAL ESTATE $800 million annually, revenue has require a cut in overhead so it can been slowly declining for several meet its growing obligations. One years. Back in 2012, the company possibility: It could reduce hours at tried to freshen things by updating its restaurants, all of which in the the image of its namesake mascot. New York area seem to open week- Ranked #1 & 2 best places in NYC to work by Crain’s. Out went the baseball-cap-wearing, days at 10 a.m.—hardly prime time It’s our business to provide our tenants the right space to do their best work. joke-telling,sometimes (heaven for- for its school-age audience. Ⅲ
AVERAGE NOTIONAL VOLUME of options contracts tied to foreign-exchange rates that www.bernsteinre.com $337B trade every day, according to the Bank for International Settlements. Regulators in the U.S. and overseas are investigating this vast market amid evidence that banks colluded to manipulate prices.
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©2014 Tyco. All rights reserved. Tyco is a registered trademark. Steve Young Unauthorized use is strictly prohibited. Football Legend THE Will rivals follow CVS’ butt ban? INSIDER by Andrew J. Hawkins smoking-cessation items in addi- Walgreen, Rite Aid tion to tobacco products. weigh joining City officials, who increased the minimum age for buying tobacco to competitor in halting 21 late last year, also weighed in on CVS’ decision.“Though companies tobacco sales may experience a temporary dip in revenue from the move, sometimes BY ADRIANNE PASQUARELLI the bottom line must be about something more than just dollars New Yorkers will soon have even and cents, and in this case it is: It’s fewer places to buy their smokes. about human lives,” said Assembly- Following CVS Caremark Corp.’s woman Linda Rosenthal, D- announcement last week that the Manhattan, in a statement.
7,600-unit drugstore chain will bloomberg news cease sales of tobacco products this Short-term pain fall, many are calling on all pharma- Indeed, CVS, a $123 billion cies to quit smoking. That means ‘It’s more than chain, noted that the move to stop the heat is on for Walgreen Co., its selling tobacco products by Oct. 1 flickr New York City chain Duane Reade, just dollars and will cost it about $2 billion in an- and Rite Aid. nual revenue. But in recent years, In election year, guv in giving mood “It’s entirely appropriate for cents: It’s about tobacco products have accounted pharmacy chains to stop selling cig- for less and less revenue as con- Andrew Cuomo arettes—the No. 1 killer in Ameri- human lives’ sumers shun them because of ris- ast Thursday, Gov. crossed the ca,”said Dr.Thomas Farley,Joan H. ing prices. Today, such items make narrows to Staten Island bearing gifts: lower tolls on Tisch distinguished fellow in public up about 3% of retail sales at all the Verrazano Bridge for residents and commercial health at CUNY’s Hunter College drugstores, half of what they did L truck drivers. and a former city health commis- five years ago, estimated David sioner. “[CVS’ announcement] puts tures in its first two days. Magee, an analyst at SunTrust Mr. Cuomo, surrounded by beaming borough leaders, pressure on Walgreen and Rite Aid CVS and its rivals have recently Robinson Humphrey Inc. pitched the new pricing as a boon to local businesses, which to do the same thing.” been adding in-store health clinics, “There’s obviously going to be have long complained about high tolls. where pharmacists administer flu some short-term pain associated Expanding health efforts shots and perform some diagnostic with [CVS’ decision] on their earn- “We want to have a New York that welcomes business,” He noted that most independent testing, in an effort to expand their ings, but the company is making a Mr. Cuomo continued, “that isn’t a high-cost, high-tax New pharmacies do not currently sell cig- health efforts. Both Walgreen and bet, as they continue to evolve into York, that’s a different New York with a different posture arettes, drawing even more atten- Rite Aid said that they are examin- more of a health-care store as op- toward business.” tion to the larger chains that are still ing the tobacco category,but neither posed to a convenience-store hy- selling tobacco products. Already, chain has made a move to stop sell- brid, that this is the best way to go,” But lowering tolls also benefits Mr. Cuomo, who is several petitions calling on all drug- ing the cigars, cigarettes and chew- said Mr. Magee. “Down the road, it running for re-election this year and has an interest in stores to ban tobacco have launched ing tobacco that CVS is now phas- might give them a competitive edge exceeding the historic victory margins achieved by his on the Change.org platform, with ing out. Statements from each with regard to negotiating the father, former Gov. Mario Cuomo, in 1986 over Andrew one collecting more than 500 signa- company noted that they sell managed-care business.” Ⅲ O’Rourke (the incumbent earned 65% of the vote), and Eliot Spitzer, who trounced John Faso in 2006 with 69%. NATIONWIDE COMMERCIAL AUCTIONS Never mind that the Cuomos “Unlike a Mayor [Bill] de Blasio, have always performed well on Stat- who can win big with a twin-pillar $300+ MILLION IN COMMERCIAL PROPERTIES & NOTES en Island.The current governor car- progressive-minority base,a Demo- ried the borough in 2010, just as his cratic governor like Cuomo is wise father did in 1974 as lieutenant gov- to nurture a much broader coali- Featured Asset | Luxury Manhattan Apartments ernor, in 1977 as a mayoral candi- tion,” said political consultant Bruce date and in the 1982,1986 and 1990 Gyory. “Bridge tolls on Staten Island BID ONLINE: FEBRUARY 25-27 gubernatorial races.The only time a fit into that prism quite nicely.” Cuomo failed to carry Staten Island In January,Mr.Cuomo said he’d was when Mario Cuomo lost his loosen restrictions on bow hunting, seat to George Pataki in 1994. and last week cheered a fishing Westchester County Ex- commission vote to let New ecutive Rob Astorino re- York anglers catch more cently formed an fluke. exploratory Last week, the committee, and state’s Department of SEARCH CODE: B122-150 Donald Trump also Environmental Conser- 1HZ EXAMPLE: stituencies with handouts like the state money to spruce up shooting USE THE SEARCH CODE TO EASILY FIND A FEATURED ASSET B122-150 toll discounts.The strategy reflects ranges could make him less of a tar- Simply enter the code in the Auction.com search bar the diverse interests of the get for their protest votes come statewide electorate. November. Ⅲ WWW.AUCTION.COM The nation’s leading online real estate marketplace. INSIDER-TRADING CONVICTIONS won in ',6&/$,0(5 7KHLQIRUPDWLRQEHLQJSURYLGHGLQFRQQHFWLRQZLWKWKHDXFWLRQLVIRULQIRUPDWLRQDOSXUSRVHVRQO\1RUHSUHVHQWDWLRQVRUZDUUDQWLHVDUHEHLQJPDGHDVWRWKHDFFXUDF\RUFRPSOHWHQHVVRIDQ\LQIRUPDWLRQSURYLGHG'RFXPHQWVDQG SLFWXUHVPD\QRWUHSUHVHQWWKHFXUUHQWFRQGLWLRQRIWKHSURSHUW\DWWKHWLPHRIVDOH$OOSURSHUWLHVQRWHVDQGRUORDQSRROVDUHEHLQJVROGœ$6,6:+(5(,6:,7+$//)$8/76$1'/,0,7$7,216ŔDQGDOOVDOHVDUHœ),1$/Ŕ3URVSHFWLYHELGGHUVDUH four years by U.S. Attorney Preet encouraged to conduct their own due diligence and investigate all matters relating to the properties, notes and/or loan pool that they are interested in purchasing. No prospective bidder may trespass on any property, disturb the occupants, or contact the borrowers, if any. It is recommended that prospective bidders seek independent advice, including legal advice, to perform due diligence and to fully understand the auction process in general. All assets auctioned individually. 79 Bharara, whom some view as a (TXDO+RXVLQJ2SSRUWXQLW\$XFWLRQFRP//&DQGLWVDIŵOLDWHVPDLQWDLQDŵUPFRPPLWPHQWWRSURYLGLQJSURIHVVLRQDOVHUYLFHVWRDQ\SHUVRQUHJDUGOHVVRIUDFHFRORUUHOLJLRQVH[KDQGLFDSIDPLOLDOVWDWXVRUQDWLRQDORULJLQ7KH&RPSDQ\VKDOO QRWNQRZLQJO\EHDSDUW\WRDQ\SODQRUDJUHHPHQWWRGLVFULPLQDWHDJDLQVWDSHUVRQRUSHUVRQVRQWKHEDVLVRIWKHVHRUDQ\VLPLODUSUHMXGLFHVRUSUDFWLFHV6XEMHFWWRWKH$XFWLRQ7HUPVDQG&RQGLWLRQVSRVWHGIRUWKHHYHQW$XFWLRQFRP /LFHQVHG XQGHUWKHIROORZLQJQDPHV $XFWLRQFRP//&$XFWLRQFRP,QF$XFWLRQFRP/WG$XFWLRQFRP5HDO(VWDWH'LVSRVLWLRQ&RUSRUDWLRQDQG5('& 0DXFKO\,UYLQH&$ ZZZ$XFWLRQFRP1<5(%UNU future candidate for elected office 6 | Crain’s New York Business | February 10, 2014 20140210-NEWS--0007-NAT-CCI-CN_-- 2/6/2014 6:09 PM Page 1 BUSINESS +1. 3% Rate at which workers’ productivity increases during periods of bad weather PEOPLE Source: Harvard Business Review EXECUTIVE MOVES ROLL ’EM: John Del Cecato’s “Dante” The Five O’Clock commercial, feauring Club: Darren the mayor’s son and Kimball,44,was his Afro, helped promoted to chief propel Bill de Blasio executive at the to victory. outplacement services company. He was previously senior vice president of strategy and business development. Monday Properties: Timothy Helmig, 45, was promoted to co-president and chief operating officer at the real estate investment firm. He was previously executive vice president and chief development officer. The CFO Squad: Michael Armandi,35, joined the outsourced accounting and financial business-services firm as chief operations officer. He was previously chief executive, president and owner of Business Efficiency Experts Inc. Pine Brook: Guillermo Bron, 62, joined the investment firm as managing director. He was previously managing partner at ACON-Bastion Partners II, which he co-founded. Alliance Residential Co.: Brett Rubin, 35, joined the real estate development company as managing director, a newly created position. He was previously senior director of development at AvalonBay Communities Inc. New York University’s Center for Urban Science & Progress: Michael Flowers, 44, joined the research institute as buck ennis urban science fellow, a newly GOTHAM GIGS created position. He was previously chief analytics officer for the Bloomberg administration. BNY Mellon Wealth Management: James Horvath, 54, joined the financial- services firm as senior director for Ready for his close-up business development, a newly created position. He was previously senior vice president at Atlantic Asset Management. De Blasio’s director builds his business on a big win Sheraton New York Times Square Hotel: Jesse Suglia, 39, joined as director of John Del Cecato produced many of the television joined a small team that traveled around Illinois sales and marketing. He was ‘We’re previously director of travel industry ads that propelled Barack Obama to the with the candidate during his 2004 U.S. Senate and international sales and leader of showing presidency in 2008 and 2012. But Mayor Bill de run. ¶ Mr. Del Cecato credits Mr. de Blasio for the New York global sales center at Omni Hotels & Resorts, Kempinski Blasio’s election in 2013—spurred by Mr. Del laying out the principles of a winning campaign Hotels and the Global Hotel that Cecato’s much-loved spot featuring Dante de early on.The consultant recalled him saying, Alliance. Experian Marketing Services: Caliopie New York Blasio and his famous Afro—proved especially “ ‘The first thing you need to know is that I’m a Walsh, 43, was promoted to vice meaningful professionally. ¶ “We’re showing that product of movement politics. I believe the president of human resources at the is a mecca New York City is a mecca not just for media and grassroots are essential, and I’m unapologetic in consumer insights and marketing company. She was previously for finance, but also political consulting,” Mr. Del my belief that we can’t leave anybody behind.’ ” director of global corporate human Cecato said. His big wins have helped the ad Mr. Del Cecato said, “It wasn’t a matter of a guru resources. political New York Media: man, a resident of the East Village, grow AKPD coming in and saying, ‘This is what you need to Michelle Imbrogno Message and Media, where he is a partner, into change yourself into.’ ” ¶ In making television ads, Miller, 44, joined as consulting’ executive director of larger offices on Sixth Avenue. ¶ Mr. Del Cecato he strives for authenticity.The “Dante” ad showed integrated sales at is a protégé of David Axelrod, who founded footage of a day in the life of the de Blasios. “Even the parent of New AKPD before joining the Obama administration. though the lighting might not have been perfect, York magazine. She was previously Mr. Axelrod’s advice: Find the best candidate, and the camera angles weren’t Hollywood-ready, integrated sales then persuade him to hire you. Mr. Del Cecato there was a sense that these were real shots into director at American Express Publishing Corporate. attended Mr. Obama’s now-famous 2002 speech who this person is and who his family is,” Mr. Del Integro: Jeffrey Cunningham, 43, joined opposing the Iraq War, was blown away, and Cecato said. —chris bragg See EXECUTIVE MOVES on Page 8 February 10, 2014 | Crain’s New York Business | 7 20140210-NEWS--0008-NAT-CCI-CN_-- 2/6/2014 6:08 PM Page 1 CORPORATE LADDER EXECUTIVE MOVES Continued from Page7 CYBERSECURITY FIRM TAPS NEW CHIEF EXECUTIVE the insurance brokerage as vice THERE’S A NEW DIGITAL SHERIFF IN TOWN at Stroz Friedberg, a Manhattan-based investigations, tech-security and risk-services president of casualty, a newly created firm. Michael Patsalos-Fox, former chairman of the Americas at consulting firm McKinsey & Co., was named chief executive position. He was previously vice when co-founders Ed Stroz and Eric Friedberg became executive chairmen late last year. president in the environmental practice at Marsh. Founded in 2000, Stroz Friedberg offers cybersecurity to Fortune 500 companies and law firms. Gensler: Sonya Dufner,45,was “We are proud of what we have accomplished, but you can’t keep the same configuration forever,” said Mr. Stroz. promoted to principal at the design “We are strong in the areas of reactive litigation and internal incidents, but Michael’s experience will help our clients firm. She was previously an associate. pick a team before [it’s necessary], and prepare for risk before their hair is on fire.” Molly Murphy,40, As the new head of the firm, Mr. Patsalos-Fox will focus on operations and new areas for growth opportunity, was promoted to such as Relativity, a Web-based e-discovery tool aimed at simplifying laborious and expensive complex litigation. principal. She was push hard on digital forensics and other areas we could be more active in previously a senior “We will ,” said Mr. Patsalos-Fox, associate. 60. “We have software in incubation that will help us make sure clients are secure, and know it.” Withers Bergman: —EVA SAVIANO Corrado Manuali, 44, joined the law firm as head of its Italian desk in the United States. He was previously a partner at Kranjac Tripodi & Partners. The Magnetic Collective: Keith Navratil, 41, joined the branding and marketing research company as partner. He was previously lead strategist at Needledrop, which he co-founded. Moses & Singer: Robert Friedman,54, joined the law firm as a partner. He was previously a partner at Dechert. Blank Rome: Leslie D. Corwin, 66, joined the law firm as a partner in its corporate litigation group. He was previously a principal shareholder at Greenberg Traurig. McDermott Will & Emery: Leonard Klingbaum, 40, joined the law firm as a partner. He was previously a partner at Kirkland & Ellis. Loeb & Loeb: Scott S. Liebman, 33, joined the law firm as a partner in its FDA regulatory and compliance practice, a newly created position. He was previously principal at Porzio Bromberg & Newman and vice president of Porzio Life Sciences. Leech Tishman Fuscaldo & Lampl: Gregory Blasi, 63, joined the law firm as a partner. He was previously a partner at Loeb & Loeb. Proskauer Rose: Allan Bloom, 44, joined the law firm as a partner in its labor and employment practice. He was previously a partner at Paul Hastings. Erika Colins, 46, joined as a partner in its labor and employment practice. She was previously a partner at Paul Hastings. Zachary Fasman, 65, joined as a partner in its labor and employment practice. He was previously a partner at Paul Hastings. BakerHostetler: Stacey Bell,40,was promoted to partner at the law firm. She was previously an associate. Nicholas Cremona, 39, was promoted to partner. He was previously of counsel. Edward Jacobs, 40, was promoted to partner. He was previously an associate. Segal McCambridge Singer & Mahoney Ltd.: Madina Axelrod,38, was promoted to shareholder at the law firm. She was previously an associate attorney. CTM Media Group Inc.: Arnie Bautista, 38, was promoted to sales and marketing manager for New York City at the tourism-media company. He was previously a senior consultant. —eva saviano EXECUTIVE PROMOTIONS The fastest way to get an announcement into Crain’s is to submit online. Fill out the form at www.crainsnewyork.com/section/ executive_moves. The Executive Moves column is also available online. 8 | Crain’s New York Business | February 10, 2014 20140210-NEWS--0009-NAT-CCI-CN_-- 2/6/2014 6:07 PM Page 1 REAL ESTATE DEALS the same time as the initial space. BARE BONES Residential complex —daniel geiger Gelato seller in Queens on block scoops up Chelsea France-based Amorino has just closed a sweet deal for a corner huge portfolio of rental apartment buildings in eastern Queens shopfront in Chelsea. has hit the market at a time when more big real estate invest- The seller of gelato and choco- ment companies have begun to look to the boroughs for oppor- lates recently signed a 15-year deal tunities. for 1,100 square feet at 162 Eighth Ave. Hudson Realty Capital is selling a package of 53 buildings, The deal, which includes an 800- Acontaining 1,270 apartments, in Kew Gardens. The properties could fetch as square-foot basement, closed at the much as $250 million.The seller has hired a sales team from Massey Knakal asking rent of $224 per square foot. Realty Services, led by Chairman Bob Knakal, to market and manage the When it opens in the summer, 161 WILLIAM ST. 30-30 THOMSON 729 SEVENTH AVE. AVE., QUEENS auction. the shop will become the second ASKING RENT; TERM: ASKING RENT; TERM: “Interest has picked up significantly in the boroughs over the past year or Manhattan outpost for 12-year-old Mid-$30s per square ASKING RENT; TERM: $48-$52 per square foot; so, and that will continue in 2014,” said Mr. Knakal, who confirmed that he Amorino, which currently operates foot; seven years Undisclosed; 15 years 15 years is handling the sale with colleagues Tom Donovan and Stephen Preuss. a shop on University Place in the SQUARE FEET: 11,600 SQUARE FEET: 233,000 SQUARE FEET: 22,300 The deal comes as more big real estate investors have looked to the bor- Village, not to mention nearly 100 TENANT; REPS: Pace TENANT; REPS: New York TENANT; REP: The Actors oughs, including Queens, amid a dearth of attractively priced investment outposts scattered across Europe. University; Kyle Ciminelli City Department of Fund; David Lebenstein opportunities in Manhattan. The purveyor of sweets chose the and David Falk of New- Design and Construction; of Cassidy Turley The portfolio of buildings is one of the largest to hit the market in decades Eighth Avenue corner for its strong mark Grubb Knight Frank Rachna Desi-Jain and LANDLORD; REPS: in the cloistered Queens community,known for its Tudor-style architecture commercial and residential foot Doug Holowink of CBRE LANDLORD; REPS: Jack Group Inc. Himmel + Meringoff; in- and tree-lined streets. Most of the apartments in the properties are rent- traffic,said Matt Cohen,the Lansco Resnick & Sons; in-house house representation by regulated. —daniel geiger Corp. broker who exclusively repre- representation by Dennis LANDLORD; REP: The Mark Stein and Jason sents Amorino. Brady and Brett Feil Organization; in- Vacker Greenberg house representation by In addition,few ice cream parlors Randall Briskin BACK STORY: The Sign maker new landlord raised rents. As with are located nearby, according to BACK STORY: Pace is nonprofit will take the many growing companies in the city, Steve Rappaport, the Sinvin Real expanding its total BACK STORY: The 10th and 11th floors in footprint to more than department renewed and the 17-story building, plays it cool the sign maker took unfinished Estate broker who represented 170,000 square feet in expanded its lease by according to The space at 153 W.27th St.,and is turn- landlord 162 Eighth Avenue. the building, according to 23,000 square feet at Commercial Observer. A specialized signage firm whose ing it into high-ceilinged, loft-style —adrianne pasquarelli The Commercial Observer. Queens Atrium. work adorns a number of prominent digs, according to Mr. Buslik. The institutions around the five bor- firm also wanted a location in a more oughs has inked a five-year lease in live/work neighborhood than might the Flatiron district for its new be found in midtown. headquarters in the city. “I think they wanted a cool area,” Boston-based Design Commu- he said.“It is convenient to get from nications, which manages the con- there to the subways and Penn Sta- struction and installation of signage tion,and there are two parks and lots for clients ranging from museums of nightlife.” and universities to corporate head- The firm plans to move into the quarters—and whose customers 12-story prewar building in a mat- here include both the New York and ter of days. the Brooklyn botanical gardens as Sam Stein represented the land- well as Baruch College—has inked lord, Justin Management, in-house. a deal for 2,650 square feet at 153 W. —joe anuta 27th St. between Sixth and Seventh avenues. The asking rent was $39 per square foot, according to Jeff Insurer feels love Buslik, who represented the firm of rising market along with Adams & Co. colleague Seth Godnick. With the city’s commercial real es- “This is expansion space. The tate sales market booming, New company is growing,”Mr.Buslik said. York’s title insurance businesses are The firm previously had an office finding themselves back in clover. a few blocks away on West 24th Less than a year after signing a lease Street but decided to make the move near Bryant Park, for example, In- after that building was sold and the signia National Title Agency is al- ready adding more space.The com- pany just tacked on 3,500 square feet to the 5,600 square feet it took in May at 6 E. 39th St., and in the process is taking over the building’s entire seventh floor. The asking rents at the property were in the mid-$40s per square foot. “The title insurance business is doing very well right now because of the hot sales market,” said JSN Properties’ Jeff Nissani, the broker who represented Insignia National in the deal. “There have been more sales deals, and Insignia is capturing more business.”Last year,Cushman & Wakefield said the sales market in the city rose to $37 billion,a jump of nearly 25% over 2012. Mr. Nissani negotiated the deal directly with the 12-story building’s landlord, Marc Bengualid. Insignia National committed to the space last year for 10 years. The lease on 153 W. 27th St. the expanded space will expire at February 10, 2014 | Crain’s New York Business | 9 20140210-NEWS--0010-NAT-CCI-CN_-- 2/6/2014 5:42 PM Page 1 OPINION CRAIN’S NEW YORK BUSINESS How not to create jobs Rance Crain editor in chief publisher, vp Jill R. Kaplan Besides, warehouses provide relatively few jobs per square EDITORIAL ills pop up by the hundreds in Albany every editor Glenn Coleman year, often introduced by lawmakers as quiet foot and don’t pay especially well, making them a bad growth managing editor Jeremy Smerd deputy managing editors Valerie Block, favors to campaign donors, naked attempts target for a dense metropolitan area with high real estate Erik Ipsen at publicity or dutiful responses to costs. In fact, city business leaders recommend that the assistant managing editor Erik Engquist government offer incentives for owners of warehouses to senior news producer Amanda Fung constituent requests. Most don’t benefit contributing editor Elaine Pofeldt anyone but the particular special interest convert them to job-intensive commercial spaces for higher- columnists Greg David, Alair Townsend crain’s health pulse editor Barbara Benson pushing for them. Fortunately, the vast paying employers, such as specialty manufacturers. Mr. senior reporters Theresa Agovino, majority do not become law or even come close. We hope Klein’s bill would do the opposite. Aaron Elstein, Lisa Fickenscher, Matthew Flamm, that will be the case with a newly hatched measure imposing The senator, we are happy to report, is willing to listen to Daniel Geiger, Adrianne Pasquarelli B reporters Joseph Anuta, Chris Bragg, a curious mandate on alcoholic-beverage retailers. retailers’ concerns about this bill. No doubt he would rather Andrew J. Hawkins, Thornton McEnery reporter/videographer Ken M. Christensen The legislation would require spirits to be warehoused in they had reached out to him before hiring a public-relations news producer Emily Laermer New York state for at least 24 hours before being sold here. firm to mount a web reporters/producers Nazish Dholakia, Irina Ivanova The rationale, according to its sponsor, Bronx state Sen. Jeff campaign against what art director Steven Krupinski Klein, is to create jobs and boost tax revenue in New York. A curious bill it cleverly calls a “cork deputy art director Carolyn McClain It is hard to know where to begin the list of reasons that tax.” (Ironically, that staff photographer Buck Ennis would compel copy desk chief Steve Noveck this is a bad idea. One is that building beverage warehouses same firm also copy editor Thaddeus Rutkowski data editor Suzanne Panara in and around New York City would lead to higher storage the use of NY campaigns to preserve researchers Eva Saviano, Nicholas Wells fees than those charged by nearby New Jersey facilities— another overreaching ADVERTISING, MARKETING AND PRODUCTION costs that would hurt resellers and consumers. Another is warehouses law, the one banning sales manager Irene Bar-Am wine sales in grocery senior account managers that it would arbitrarily help some businesses (New York Jill Bottomley Kunkes, Courtney McCombs, warehouses) at the expense of others (beverage retailers). stores.) On the other Suzanne Wilson hand, Mr. Klein seems director of custom content Trish Henry But the bill’s underlying problem is that it injects the account executive Lauren Black government into a functioning marketplace to solve a to have drafted the bill sales coordinator Cynthia Hutchinson events coordinator & scheduler nonexistent problem. No one is complaining that scotch is without consulting those who would be damaged by it. Alexis Sinclair going bad in out-of-state warehouses. While in theory the In defense of his bill, the senator points out that 33 other credit Todd J. Masura (313-446-6097) director of audience & content legislation would shift warehouse jobs from neighboring states, including New Jersey, have similar protectionist laws. partnership development Michael O’Connor states to New York, by that logic Albany should require That doesn’t justify making us No. 34. senior marketing manager Catherine Schutten everything purchased by retailers here to be first stored Archaic statutes that unnecessarily interfere with the director of conferences & events within the state.That would be absurd on its face. marketplace have no place in New York. Courtney Williams reprint sales manager Lauren Melesio production and pre-press director Simone Pryce advertising production manager CRAIN’S ONLINE POLL COMMENTS Suzanne Fleischman Wies ONLINE AND INTERACTIVE SERVICES general manager Rosemary Maggiore web developer & digital sales Divorced from reality strategist Chris Tumminello TO SUBSCRIBE: For print and digital subscriptions or customer BILL AND BUSINESS and supports educational inno- receiving. Yet almost all the service, e-mail [email protected] vation is a business agenda. companies interviewed seemed or call 877-824-9379 (in the U.S. and Canada) or Greg David (“Mayor, biz: Can Being pro-business means to be saying they believed well- 313-446-0450 (all other locations). $3.00 a copy for this marriage be saved?” Jan. ensuring that everyone has a fair ness programs were worth the the print edition; or $99.95 one year, $179.95 two years, for print subscriptions with digital access. 27) does not give Mayor Bill shot to succeed. It means foster- investment, with healthier em- www.crainsnewyork.com/subscribe newscom de Blasio enough credit for his ing the virtuous circle by which ployees meaning less downtime IS BILL DE BLASIO RIGHT pro-business agenda. The no- empowered consumers support and lower insurance costs. TO ADVERTISE: tion that a “divorce” is on the prosperous businesses, which in Altering people’s eating, Contact Cynthia Hutchinson at [email protected] or call 212-210-0145. TO SKIP THE ST. PATRICK’S horizon for City Hall and turn anchor strong communi- smoking and sedentary-lifestyle www.crainsnewyork.com/advertise business is way off base. ties.This mayor has the poten- habits all benefit a company. DAY PARADE? FOR INFORMATION ON OUR EVENTS: Throughout his campaign, tial to set an example for all IBM spent $100 million on its Yes. The parade organizers are out of touch Contact Courtney Williams at Mr. de Blasio was crystal-clear cities about the benefits of a program, which paid employees [email protected] or 212-210-0257. with the times. They need to recognize gay about his commitment to in- progressive business agenda. for their efforts, and saw what it www.crainsnewyork.com/events rights. creasing wages and tackling in- After a little counseling, I am perceived was a $300 million TO CONTACT THE NEWSROOM: No. The parade is the signature event for Irish equality. He was also a forceful sure this marriage will not only return over time. Changing advocate for reducing the fines survive, but thrive. habits can be like redirecting 711 Third Ave., New York, NY 10017-4036 New Yorkers. It should not be political. editorial phone: 212.210.0277 on small businesses and remains —ken biberaj the Mississippi River with a ca- fax 212.210.0799 Date of poll: Feb. 5 unwavering in his commitment Member, Local Leadership noe paddle, but it can be done. Entire contents ©copyright 2014 Crain Communications Inc. 368 votes to universal pre-K.These prior- Council of Business Forward Health initiatives increase All rights reserved. ®CityBusiness is a registered trademark ities will put more money in the awareness. When I was a boy, of MCP Inc., used under license agreement. hands of New York’s con- WELLNESS WORKS people rarely lived into their CRAIN COMMUNICATIONS INC. BOARD OF DIRECTORS sumers, which will in turn boost 80s, while today many live into chairman Keith E. Crain revenue for local businesses. As a former 15-year-plus New their 90s and beyond. People president Rance Crain treasurer Mary Kay Crain Further, the mayor has ap- Jersey board member for the my age, 68, were hunched over, Cindi Crain 43% pointed incredibly qualified American Heart Association, I while today we have 80-year- William Morrow Yes 57% executive vp, operations deputy mayors and agency lead- read “Wellness programs yield old runners in marathons. I be- executive vp, director of strategic No ers from a variety of business mixed results” (Feb. 3) with in- lieve a lot has to do with know- operations Chris Crain backgrounds. A progressive terest.The article seemed to in- ing what to eat and how to stay senior vp, group publisher David Klein agenda that increases wages for dicate that the investment in healthy. vp/production, manufacturing David Kamis Anthony DiPonio hardworking New Yorkers, ad- improving employee health isn’t —frank gunsberg chief information officer vocates for the outer boroughs worth the return companies are Englewood, N.J. founder G.D. Crain Jr. (1885-1973) chairman Mrs. G.D. Crain Jr. (1911-1996) secretary Merrilee Crain (1942-2012) FOR THIS WEEK’S QUESTIONS: CRAIN’S WELCOMES SUBMISSIONS to its opinion pages. Send letters to [email protected]. Send columns of 475 Go to www.crainsnewyork.com/poll to have your say. words or fewer to [email protected]. Please include the writer’s name, company, address and telephone number. 10 | Crain’s New York Business | February 10, 2014 20140210-NEWS--0011-NAT-CCI-CN_-- 2/6/2014 5:41 PM Page 1 JOAN K. DAVIDSON sembles and glee clubs; direct kids to concerts;bring back the daily whole- Arts and de Blasio: Retailers Wholesalers Restaurants Hotels Oil Dealers Social Services school assembly where everyone sings and gets the juices flowing. ⅷ Encourage groups working to goals for lively scene find, repurpose or create new spaces throughout the city to be used as ith challenges piling up, New York’s new studios, rehearsal space, storage, classrooms and workshops. Read Adam Friedlander’s mayor has had scant chance to tell us what ⅷ Establish affordable buildings he thinks about the arts. One hopes Bill de where artists can live and work. How to $ave Big on Workers’ Compensation Blasio sees New York’s cultural life—the ⅷ Devise new forms of appren- museums, theaters, halls for music and ticeship in the arts to teach work dis- Call To Save Today cipline, enhance cultural learning, danceW and film, libraries, botanic gardens, architecture and de- clarify career possibilities and provide sign venues, public television and radio, and neighborhoods’ affordable assistance to institutions. Adam Friedlander • 800-394-7004, ext. 206 • [email protected] embodiments of the creative instinct—as the city’s lifeblood. ⅷ Create in City Hall a service of- www.friedlandergroup.com • www.howtosavebigonworkerscomp.com fice to advise people in the arts on le- He surely knows that over the past arts institutions, and for capital gal, financial, medical and other or- *Underwritten by the NYS Insurance Fund, 199 Church St., NY, NY 10007 12 years, the city’s budget for culture projects—all of which may be slow ganizational matters; and to make has been tight, barely keeping pace in coming, including the desirable connections among programs, avoid with inflation, even as former Mayor 1% of the city’s budget for culture duplication,and achieve efficiencies. Michael Bloomberg’s personal gen- now being strenuously lobbied for. To run such a campaign,the may- erosity has rebuilt and expanded ma- With the energy, high purpose or should find one or more strong jor arts institutions, including Lin- and smarts recently deployed in his leaders with brilliant organizing coln Center, the Queens Museum, political campaign, the mayor could skills, creativity and powers of per- the Public Theater and more. now launch a forceful and effective suasion, and seek the enthusiastic Facing the prospect of a contin- arts campaign. How? Summon out participation of caring New Yorkers. uing straitened arts budget—as well of the city’s rich and resourceful net- Then, with a common course of as the painful loss of the Bloomberg work of independent organizations action laid out, and with whatever largesse—the mayor may well won- the experience, commitment and private and public funds can be ob- der how he can advance,or even sus- talent to create a public/private plan tained, the widespread health of the tain, the city’s cultural life. to achieve practical goals, such as: city’s cultural life could be assured. There may be a way. ⅷ Bring music, visual arts and Foremost, he must vigorously theater into every school. Have pro- Joan K. Davidson, president of Furthermore advocate for funding from munici- fessionals introduce kids to musical Grants in Publishing, is a former pal,state,federal and private sources instruments; help them, and their chairwoman of the New York State Council for operating support of essential teachers, create student music en- on the Arts. more the agency mismanages its big projects. Fixing a floundering Mr. Marlin flamed out after two years. An embarrassed Mr. Pataki asked Bob Boyle,fresh from ousting Port Authority the Mob from the Jacob K. Javits Center and revitalizing the conven- tion complex, to fix the Port Au- ixing the dysfunction at the Port Authority of New thority.Mr. Boyle and his successor, York and New Jersey—where the “Bridgegate” Neil Levin,did just that.Since then, some executive directors have been scandal threatens Chris Christie’s political future— better and some worse, but no one is a simple task, if you understand the history. has been incompetent. The seeds of the mess that has engulfed the New Ms. Whitman and other New Jersey governor were planted by another Republican almost two Jersey governors preceding Mr. F Christie generally appointed quali- decades ago. George Pataki, fresh from his upset victory over fied people to the deputy director Mario Cuomo, caved in to pressure from the Conservative Party position; still, since that person did not report to the executive director, to appoint George Marlin as the it meant the head of the agency was agency’s executive director. The constantly forced to negotiate with Conservatives had provided Mr. both the chairman and the deputy Pataki’s margin of victory,and he felt on matters where the two states’ he had no choice, even though Mr. interests conflicted. Marlin had neither the experience Mr. Christie changed all that by nor the temperament for the job. his unprecedented use of the agency In doing so, Mr. Pataki angered for political patronage—hiring New Jersey Gov. Christine Todd more than 80 people, including the Whitman, who blocked the ap- now-infamous Bill Baroni and pointment until Mr.Pataki agreed to David Wildstein, neither of whom create a deputy executive director’s had the expertise for their jobs. position. This was an important Now a group of commissioners twist in the longstanding arrange- GREG DAVID at the behest of New York Gov.An- ment at the bistate agency.New York drew Cuomo is looking at structur- governors traditionally appointed al changes to fix the agency. Elimi- the executive director, who actually chine from its operation of the re- nating the deputy executive ran the Port Authority; New Jersey gion’s airports, tunnels, bridges and director would be a good move, but governors appointed the chairman, seaports.The money can be used on it isn’t the real solution. That will who ran the board.The two men (al- big infrastructure improvements, come when both governors appoint ways men) worked out disagree- and there is always a tug-of-war over only qualified people at the top jobs ments between the two states. who gets what.The more ineffective and the board, and when media and Conflicts are inevitable because the leadership, the more frequently civic groups raise a big stink when the Port Authority is a money ma- bad decisions get made, and the they don’t. February 10, 2014 | Crain’s New York Business | 11 20140210-NEWS--0012-NAT-CCI-CN_-- 2/6/2014 5:43 PM Page 1 IN THE BOROUGHS BRONX Alarm over P.O. sale Continued from Page 3 billion budget gap by 2015,” said a Concourse is a source of growing USPS spokeswoman. pride and growing concern,” said The first round of bidding on the Marlene Cintron, president of the property concluded on Jan. 15. Bronx Overall Development Corp. While the identity of the bidders “We’ve been working on improving and the details of their plans have the concourse for a very long time, not been disclosed, one thing seems and this building is a cornerstone of certain:The USPS is determined to the community—a gateway of eco- leave. “Failure to do so would be ir- nomic development.” responsible and would threaten our Some fear that the G.P.O. could ability to accomplish our mission,” become yet an- said the spokeswoman. The prob- other self- lem is that the USPS’ haste allows storage facility, $14M little room for local leaders to have which would PROJECTED value their voices heard.In response,some add little to the of the property have engaged in what they hope will MAJOR ALBATROSS: The local economy be pre-emptive cajoling, while oth- Postal Service is hoping for or street life— a quick exit from its 12% ers have gone further, making thin- landmarked longtime home and only add in- PORTION of ly veiled threats. on the Grand Concourse. sult to injury in building currently “That part of the Bronx needs some people’s in use planning with a purpose,” said buck ennis minds. Bronx Borough President Ruben Diaz Jr. “We need the right kind of approach.“If we don’t think the buy- ter, a competing proposal. Despite demolish or dramatically modern- Cruel fate $1 ize the structure. And then there are TOTAL RENT businesses to come in and grow the er is right for the community, they that experience, Youngwoo still ap- “We don’t USPS will pay economy of the South Bronx.” will encounter huge resistance,” she pears to be interested in a big Bronx the 13 large murals in the lobby by want to be the for one year He points to the positive impact said. “They could end up with a project. artist Ben Shahn. Those murals are storage facility after sale on small businesses along East black eye or a bloody nose.” also landmarked. for Brooklynites 149th Street made by the expanded One possible bidder favored by Once and future fans At this point, it looks as though and Manhattanites who don’t have campus of Hostos Community several local officials is Youngwoo & “We are big fans of the borough,” the deciding factor in the sale will be enough room at home,” said Ms. College, and the Gateway Center Associates, an innovative developer said a company spokesman.“We see who can pay the most.Without par- Cintron. Mall, which opened in 2009 and of retail and entertainment com- the Grand Concourse as a future ticipation from city agencies such as For too many years, the building boasts big-name tenants such as plexes including Brooklyn’s DeKalb cultural artery.”Nonetheless,the of- the Economic Development Corp., has lain largely idle. Today, all but Target and Macy’s. But even Mr. Market and the recently announced ficial did note that the area around which can often help swing the bal- 30,000 square feet, barely a fifth of its Diaz admits that the area’s revival Super Pier project on Manhattan’s the post office is a rough mix of ance in favor of the project in the vast bulk, goes unused, and the facili- remains a fragile one and needs to be West Side.The company was one of commercial and industrial and best long-term economic interests ty’s staff has sunk to just 30 employ- carefully managed. The sale of the the unsuccessful bidders to renovate therefore ill-suited to a big new re- of the local community,the decision ees. For the U.S. Postal Service, the post office, he argues, is a potential- the Kingsbridge Armory as a com- tailing center. will be up to the USPS. sale looms as a much-needed oppor- ly decisive moment for the South munity shopping center. In addition, the new owner will Mr. Diaz and others, however, tunity to shed a financial albatross and Bronx and must take into account That defeat was a bruising one find it difficult to make needed stand determined to be heeded on at the same time reap a significant the community’s needs. “Another for Youngwoo, which advanced into changes to the 76-year-old build- the sale. windfall in the city’s pricey real estate storage facility would be totally un- the late stages of the process but ul- ing, which is a New York City land- “The days of telling the Bronx to market. acceptable,” he said.“We don’t need timately saw Mr. Diaz—an early mark and is listed on the National ‘Just accept it and move on’are over,” “We must tighten our belts not it or want it—and we will be heard.” supporter—switch his backing to Register of Historic Places. Those he insisted. “This needs to be done one notch,but several,to close a $20 Ms. Cintron favors a more direct the Kingsbridge National Ice Cen- designations make it impossible to right by the people of the Bronx.” Ⅲ As of December, the boards and signs like a Target or a liance and Van Alen Institute. FROM approximately Walmart, but that’s where the jobs The sculpture will stand in Fa- AROUND 2,000-acre swath of are.” ther Duffy Square from Feb. 6 until land along the bor- —irina ivanova March 11.It is the first piece of pub- THE CITY ough’s West Shore lic art from the almost four-year-old officially became an MANHATTAN Dumbo, Brooklyn-based firm, industrial business which has focused mainly on archi- QUEENS zone, joining a score Times Square’s tectural work. To help build the of other IBZs in the sculpture, Mr. Young turned to Friends of Steinway city. big NY valentine Kammetal,a metal fabricator in Red hopes to score $9M “Previously, we Times Square will be playing Cupid Hook, Brooklyn. greater astoria historical society astoria greater / provided the exact this Valentine’s Day with the The installation is part of “Free The Friends of Steinway Mansion, same services as an Match-Maker, a heart-shaped, 10- Love in Times Square,” a month- a group of individuals, businesses, IBZ without the des- foot-tall bright red sculpture that long promotion that will also feature government officials and communi- gary vollo ignation,” said Cesar will help people find their soul- special deals with restaurants and ty groups, is trying to raise a total of Claro, president of mates.The installation, made of in- retailers.“The Times Square Valen- $9 million in stages to purchase the “Many potential buyers who had the Staten Island Economic Devel- terwoven aluminum tubes, will tine Heart Design brings a bit of ro- former home of the founder of the been intrigued [about] restoring the opment Corp. The city’s blessing match people according to their Zo- mantic heat and light to the city dur- legendary piano company and its mansion and living in it changed means a tax credit of $1,000 per em- diac signs as they place themselves at ing a cold, dark month,” said Tim grounds in Astoria, Queens, and re- their minds after driving around the ployee for businesses moving to the one of 12 viewing points around the Tompkins, president of the Times store them to their former glory. area,” said Paul Halvatzis, the area. sculpture to view their four ideal as- Square Alliance. “The Steinway Mansion is a Amorelli Realty broker who repre- “We just had a 95- to 100-per- trological mates. —marine cole monument to Gotham’s legendary sents the seller, the executrix of the son company that looked at relocat- “We wanted to de- spirit and to its people,” said Bob Steinway Mansion.That is no prob- ing from New Jersey, but decided sign something en- Singleton, executive director of lem for the Friends of Steinway not to move,” Mr. Claro said. “Now gaging for people who Friends of Steinway Mansion and Mansion members, who don’t plan it’s a $100,000 tax credit if you bring didn’t already have a the Greater Astoria Historical Soci- to live in it but propose turning it in a 100-person company.” valentine,” said Bryan ety. into a museum and learning center. Coupled with a $360,000 grant Young, founder of Located in an industrial area two —marine cole from the state to clean up five Young Projects and blocks from the factory where the brownfield sites on the West Shore, designer of the pianos are still painstakingly craft- STATEN ISLAND the influx of cash could pave the way Match-Maker, win- ed, the 6,000-square-foot, 160- for a manufacturing resurgence on ner of the 2014 Times year-old stone mansion, with its Manufacturing tax the island, said Steven Grillo, the Square Valentine sweeping main staircase and soaring SIEDC’s director of projects. Heart Design compe- ceilings, has drawn no serious offers credit turns heads “There’s a lot of manufacturing tition, which was since it hit the market at $3.5 mil- Staten Island’s industrial boosters that goes on behind the scenes,”Mr. made possible by the lion three years ago. got an early Christmas gift last year. Grillo said. “It doesn’t have bill- Times Square Al- youngprojects 12 | Crain’s New York Business | February 10, 2014 20140210-NEWS--0013-NAT-CCI-CN_-- 2/6/2014 6:10 PM Page 1 SMALL BUSINESS INSIDE Top M&A Deals Deal-hungry investors shake up market PAGE 16 ‘Talking to doctors overseas gave us a whole new sense of who we are’ REPORT —Maria Cuccia, CEO, Advanced Back Technologies, Page 14 Overseas markets lure owners Small firms find GOING UP that diversifying New York state export growth In billions their sales base $81.4 brings stability $69.7 BY ELIZABETH MACBRIDE When Magnificent Baby’s presi- dent, Lauren Levy, sent out her first round of marketing postcards intro- ducing a line of clothes with mag- netic fasteners in 2010, about 40% 2010 2012 got returned.Many of the boutiques Source: International Trade Administration had closed in the still-struggling U.S. economy. “They came back in huge piles over several days ... ugh,” tracting at one point,”she said.“The Ms. Levy remembered. easiest way to replace the sales was The profitable business, head- to export.” quartered in Manhattan’s garment After experimenting with a cou- district, eventually found stores to ple of routes to finding foreign buy- sell its clothes, and won over many ers, Magnificent Baby now sells its parents sick of struggling with snaps goods through shops in Puerto Rico on baby suits.With six full-time em- and 20 countries outside the U.S,in- ployees, it now has just over $5 mil- cluding Mexico, Saudi Arabia, lion in annual revenue. But its tenu- South Africa and the U.K. It is one ous start taught Ms. Levy a lesson of a growing number of small—and about how important it was to estab- often tiny—businesses wading into GROWTH-MINDED: lish a diversified sales base for the international markets, many of Lauren Levy sells company’s infant and toddler pieces, them empowered by technology Magnificent Baby which sell for just under $30 each. and new government programs that goods in the U.S. and She realized that getting a toe- encourage them to diversify their 20 other countries. hold in some international markets revenue internationally. After all, could have a big impact on revenue. 95% of the world’s consumers are buck ennis “For instance, California was con- See OVERSEAS on Page 14 Crowdfunding helps women beat financing odds With venture capital ated Bump Water,an all-natural fla- traveling to pitch the business to of Business who studies gender and lick. In total, men raise more mon- vored water that contains many of outside investors wasn’t practical. equality in entrepreneurship. ey, but only because there are more still elusive, female the same vitamins as prenatal pills They also didn’t fit the entrepre- “Women have a very difficult men raising money. and all of the folic acid. neurial stereotype of a time with venture capital,” said Mr. entrepreneurs try To turn the product young man peddling a Mollick.But his research also shows Even playing field online platforms into a business, the pair 46% tech startup. that women do as well as men on the Possibly more important, re- raised $150,000, mostly PERCENTAGE of That may be why fe- Kickstarter crowdfunding site. Mr. search shows a lack of discrimina- small U.S. firms from family members, but at least 50% male entrepreneurs are in- Mollick said female founders ac- tion against women in crowdfund- BY EILENE ZIMMERMAN also through traditional women-owned creasingly looking to count for between 16% and 20% of ing,he said,whereas evidence points crowdfunding, in which Source: AmEx crowdfunding first—or as the technology projects on the plat- to a bias against women using tradi- When Stacy Rauen and Amber backers donate to a project a replacement for—ven- form. “For a given project, if it is led tional fundraising. Recent research Wilcox were pregnant, neither without getting equity. Both ture funding,said Ethan Mollick,an by a woman,it will do at least well— from the MIT Sloan School of could stomach prenatal vitamins, women have young children (and assistant professor at the University if not better—than a similar project Management, the Wharton School which nauseated them, so they cre- Ms. Rauen also works full-time), so of Pennsylvania’s Wharton School proposed by a man,” said Mr. Mol- See CROWDFUNDING on Page 15 February 10, 2014 | Crain’s New York Business | 13 20140210-NEWS--0014-NAT-CCI-CN_-- 2/6/2014 5:44 PM Page 1 REPORT SMALL BUSINESS TOP EXPORT INDUSTRIES IN NYS, 2012 Entrepreneurs look overseas Ⅲ MISCELLANEOUS MANUFACTURED COMMODITIES (includes jewelry, toys, sporting goods, etc.): Continued from Page 13 to lend to small and midsize firms Despite the obstacles, Maria $19.6 billion outside the United States. that want to expand internationally; Cuccia, CEO of medical-device Ⅲ PRIMARY METAL MANUFACTURING When the recession made it clear it had met an initial $1 billion target company Advanced Back Tech- that businesses that exported were in the first six months after starting nologies, based in Hauppauge, L.I., (includes smelting and refining ferrous better able to ride out economic its lending program in July 2013. expresses no regrets about expand- and nonferrous metals): $9.7 billion storms, President Barack Obama As one of the nation’s biggest ex- ing overseas. Ⅲ COMPUTER AND ELECTRONIC set a goal of doubling U.S. exports porters, New York state has played a “I am passionate about interna- PRODUCTS: $6.6 billion over five years in the National Ex- big role in the push to go overseas. tional business,” she said.“It’s about Ⅲ NONELECTRICAL MACHINERY: port Initiative, announced in his In 2012, state businesses sold $81.4 getting to know the people you’re $6.4 billion 2010 State of the Union Address. billion worth of merchandise to for- dealing with and building a trust The president’s objective was to eign customers, according to a 2014 factor.” Ⅲ USED OR SECONDHAND MERCHANDISE: $6.2 billion grow exports to $3.14 trillion in report by the International Trade Ninety percent of her firm’s sales Source: International Trade Administration 2015,from a base of $1.57 trillion in Administration. The New York of just over $1 million come from istock 2009. Although exporters City metro area,which in- the 12 countries where she has cus- would need to make giant cludes parts of New Jersey, tomers, including China and Rus- businesses work in international helps businesses access new markets strides this year for the 59.1% sold $102.3 billion. sia. In mid-January, she was prepar- markets are more readily available, and strategic partnerships. A sub- country to meet that PERCENTAGE Statewide, there were ing for her second trip to the Arab too—and not only from banks, scription to the platform will cost benchmark, there has of the state’s 41,218 businesses that ex- Health trade show; the first trip,last which have increasingly been offer- about $250 a year. been some progress, with export revenue ported in 2011—94.5% of year, was financed by the Empire ing wire transfers with currency ad- Market-research expert Wouter generated by exports reaching an all- small and midsize which were small and State Development Corp. justments built in. Western Union van den Berg, who is also a venture time high of $2.2 trillion firms, 2011 midsize firms. offers tools to help small businesses investor with interests in New York in 2012, according to the Source: International Still, companies with Crossing borders is easier manage exchange-rate risk and in- City, said businesses seeking to ex- U.S. Trade Initiative. Trade Administration fewer than 50 employees Advances in technology and the ternational cash flow in 135 curren- pand in Europe should begin in the Government agencies, often have a harder time explosion in the number of big com- cies,from Swedish krona to Chinese United Kingdom. “British English including the Export-Import Bank than midsize players in tapping into panies providing services that enable renminbi. and American English are close,” of the United States,which helps fi- international markets. Many get overseas trade are helping a lot, too. MasterCard and Western Union said Mr. van den Berg, who is cur- nance international transactions, stymied by the difficulties of ship- Amazon.com now offers interna- in June launched a service that al- rently CEO of one of his portfolio have increased support to small ping their goods, marketing in for- tional shipping. Thousands of U.S. lows a small business to send pay- companies, Amsterdam-based businesses. Exporting helps retain eign countries, complying with for- sellers stock their inventory in Ama- ments directly from a U.S. bank to a SoSocio, which has print distribu- jobs: U.S.companies that export not eign regulations or managing cash zon.com warehouses and rely on the foreign bank through MasterCard’s tion facilities in 50 countries to sup- only grow faster, but also are 8.5% in different currencies. giant company to complete the ful- small business network platform. port its global client base. less likely to go out of business than To spark more international fillment of international orders for The network costs $9 a month, ac- Americans are often comfortable nonexporting companies, a study by trade, Gov. Andrew Cuomo an- about $1 per standard-size item,plus cording to its website—cheaper in the international business cul- the Institute for International Eco- nounced the January launch of shipping costs.Brooklyn-based craft than the fee for a typical wire trans- ture: “We tend to be very direct, nomics found. Global NY, a program that aims to, marketplace Etsy supports interna- fer at a bank. Many small U.S. firms which is a help,” he said. The private sector is paying at- among other things, connect start- tional payments; in 2013, more than accept credit cards for cross-border tention, too. With emerging mar- up companies with exporting op- one-third of its transactions crossed transactions, but not all distributors Cultural differences kets like India percolating, HSBC portunities. The program is plan- a border, according to a spokes- in foreign countries accept credit But, he cautioned, each country Bank USA recently announced it ning to host a conference at the woman. cards, and those relationships often in Europe is different, and, overall, was setting aside another $1 billion Jacob K. Javits Convention Center. Financial services to help small are crucial to exporting success. European consumers are different Whereas a big business is able to from American prospects. For in- put its own boots on the ground, a stance, he said, European con- small business has to outsource that sumers are more apt to react to CRAIN’S Health Care Conference: muscle to help it find the right retail brand campaigns than product shops, design marketing campaigns campaigns and care less about the and meet the safety standards in dif- timeliness of shipping. On the oth- ferent countries. er hand, loyalty programs and the Magnificent Baby went through extent to which consumers use fits and starts finding its first dis- coupons is very country-specific, tributors in Australia and Puerto he said. Rico. Ms. Levy asked around at Sometimes, working in a differ- trade shows, for instance. “We ent culture can bring a big advan- heard from a lot of well-meaning tage. Ms. Cuccia saw sales pick up pregnant women in different coun- when she began marketing overseas. The Money Challenge tries,” she said. “We told them, She first had to pass regulatory hur- The Money Challenge ‘You’ve really never done this be- dles in Europe. After she did, she fore, and you’re going to have your noticed that doctors there, in coun- hands full.’ ” tries with socialized medicine, were forfor NewNew YorkYork HospitalsHospitals Now she is using a service called much more interested in the results Powerlinx, a Manhattan startup that her machine, which treats back Keynote Speaker: Thursday,ThThursdayursday, April April 10, 10, 2014 2014 backed by a quartet of former senior and neck pain,could achieve.“Talk- Adam Blumenthal, Co-founder and Managing Partner, Blue Wolf Capital Sheraton New York Times Square Dun & Bradstreet executives, to vet ing to doctors overseas opened up a Partners LLC 8:00 a.m.-8:30 a.m.: Networking Breakfast distributors. Set to launch to the whole new sense of who we are,”she PANEL DISCUSSIONS 8:30 a.m.-12:00 p.m.: Program public in the middle of this year, said. “Here, the doctors just seemed Powerlinx, which is already avail- to be focused on how much money Show Us The Money: Access to Capital Panel Cost to Attend: able on a beta basis, said its platform they can make.” Ⅲ Dan Moen, Chairman of the Board, LHP Hospital Group Inc. $250 individual ticket(s) Paul T. Williams, Jr., President and Chief Executive Officer, DASNY $2,500 table(s) of 10 $3,500 table of 10 + event journal ad TOP EXPORT MARKETS, NYS, 2012 Why it all Matters: The View From Providers Early bird pricing ends February 18, 2014 Robert L. Glenning, Executive Vice President and Chief Financial Officer, In billions You must be pre-registered to attend this Hackensack University Medical Center Canada event. No refunds permitted. $15.4 Michael Wiechart, President and Chief Executive Officer, Capella Healthcare For more information, contact Adrienne Hong Kong Additional Panelists to be Confirmed Yee at 212-210-0739 or email $8.9 [email protected] Switzerland $6.5 REGISTER TODAY >> United Kingdom crainsnewyork.com/events-healthcareconf2014 $6.5 For sponsorship information, contact Lauren Black at Israel (212) 210-0736 or [email protected] $4.5 Source: International Trade Administration 14 | Crain’s New York Business | February 10, 2014 20140210-NEWS--0015-NAT-CCI-CN_-- 2/6/2014 5:45 PM Page 1 REPORT SMALL BUSINESS Crowdfunding attracts women Continued from Page 13 confidence booster to push them friends of friends on Facebook and and Harvard Business School found into the marketplace. then translated that to a real-world that men are 40% more likely to get Nancy Slotnick, founder of date.“I didn’t seek angel funding be- venture-capital funding with the Matchmaker Café in Manhattan, cause I wasn’t sure this was fund- same pitch as women. ran a campaign on Indiegogo in able,” she said. Not having to pitch a roomful of June to fund a pop-up eatery on Ms.Slotnick,who has an 8-year- male investors also worked well for Wall Street last summer where she old son, also felt “very much out of Ms. Wilcox, who was able to post sold coffee and set up dates. Al- the entrepreneurial scene. And I’m Bump Water’s campaign on the In- though Ms.Slotnick fell short of her in a very female business—it’s retail diegogo site in August 2013, after $12,000 goal—she raised $3,000— WELL FUNDED: Amber Wilcox and entertainment-oriented, not a (left) and Stacy Rauen (right) asking her sister to watch her kids she remained open from July to Sep- traditional tech business. I was raised money on Indiegogo to for 20 minutes so she could create tember to beta-test her business, aware of all that,” she said. “And launch their flavored water. Ⅲ the video. Unlike Kickstarter, In- which matched singles through daunted by it.” levinekarjean diegogo allows campaign sponsors to receive the money they raise even if the campaign’s goal isn’t met. A spokesperson for the platform said it takes 4% of what is raised if a goal is met; if unmet, it takes 9%. (Kick- starter takes 5%, but only for proj- ects that meet their funding target.) Ms. Rauen and Ms. Wilcox met their $17,000 objective in Septem- Give your employees ber and used it to fund the first pro- duction run in late December. Bump Water is available for pur- chase now on its website. the duck. Early feedback Some women are finding that crowdfunding can help them build credibility in the marketplace before Anything else is just they are ready to try equity financ- ing. That was the case for Marisol Trowbridge’s startup, Puzzle Ap- parel. It lets buyers customize gar- chicken. ments, which are manufactured in Brooklyn, using handmade fabrics from U.S.-based artists. Ms. Trowbridge believed it was Almost 60 percent of employees too early to take the concept to an- gels or venture capitalists, so she wish their employers offered started a monthlong campaign on voluntary insurance1. Indiegogo that began Nov. 22. She wanted to raise $10,000 to pay for production and enable the company The question is, who will you choose? to prove market interest; a month later, she had raised $10,193. Ms.Trowbridge said that as a fe- You could opt for a voluntary option from your male entrepreneur, she often feels medical carrier, or you could offer coverage from she must back up her ideas with the number one voluntary provider2: Afl ac. proof that they work in order to be taken seriously, but believes that is a smart business practice nonetheless. There’s no direct cost to you for offering it, and “This isn’t just a male-female issue, getting started is as simple as adding a payroll but an issue of letting the market deduction. That’s why business owners like you lead you,” she said. She seems to be onto something. have chosen Afl ac for nearly 60 years. It’s also Caron Proschan, co-founder of why we’re so confi dent Afl ac is the right partner Manhattan-based Simply Gum, an for your business. all-natural chewing gum that launched in October, also used crowdfunding to establish her prod- You can bet the farm on it. uct’s viability before seeking invest- ment capital. After raising $15,000 Call your local agent and visit on Kickstarter last June, Ms. Proschan went on to raise a seed afl ac.com/business round from investors in October. Ms. Proschan said the process was “almost less about funding than about consumer feedback. People are very vocal in the comment sec- tion, and the feedback was over- whelmingly positive.It was more ef- ficient than focus groups and gave us the confidence to go out and find funding from investors.” Confidence booster 12013 Afl ac WorkForces Report, a study conducted by Research Now on behalf of Afl ac, January 7 – 24, 2013. 2Eastbridge Consulting Group. U.S. Worksite/Voluntary Sales Report. Carrier Results for 2012. Avon, CT: April 2013. Coverage is underwritten by American Family Life Assurance Company of Columbus. In New York, coverage is underwritten by American Family Life Assurance For some women who aren’t Company of New York. Worldwide Headquarters | 1932 Wynnton Road | Columbus, GA 31999 plugged into traditional financing Z131175 11/13 networks, getting support through crowdfunding can be a powerful February 10, 2014 | Crain’s New York Business | 15 AFL3030 B2B ChickenJr ALT.indd 1 1/24/14 12:18 PM 20140210-NEWS--0016-NAT-CCI-CN_-- 2/6/2014 5:46 PM Page 1 THE NY Area’s Largest Mergers and Acquisitions LIST Deals announced in 2013, ranked by deal value Deal value, Primary industry Rank Target Buyers/investors in millions of target business Date announced Date closed THE SCOOP Cellco Partnership Verizon Communications Inc. $130,036.0 Wireless telecommunication services 9/2 Pending 1 d/b/a/Verizon Wireless (remaining 45%) M&A MARKET Basking Ridge, NJ Manhattan H.J. Heinz Co. Berkshire Hathaway Inc., 3G Capital Inc. $28,686.5 Packaged foods and meats 2/13 6/7 HEATS UP Pittsburgh Manhattan 2 fter years of waiting out Virgin Media Inc. Liberty Global $24,817.9 Cable and satellite 2/5 6/7 a slow mergers-and- 3 Manhattan London acquisitions market, Omnicom Group Inc. Publicis Groupe $21,876.1 Advertising 7/27 Pending New York City area 4 Manhattan Paris companies showed Bei Enterprises Not disclosed $20,000.0 Not disclosed 9/24 Pending signs of life in 2013, more than dou- Manhattan A 5 bling the previous year’s total value of NBCUniversal Media Comcast Corp. (remaining 49%) $16,722.0 Broadcasting 2/12 3/19 deals. Buyers and targets saw $447 6 Manhattan Philadelphia billion in deals in 2013,up 125% over Cole Real Estate Investments Inc. American Realty Capital Properties Inc. $10,944.4 Retail REITs 10/22 Pending 2012, according to data provided to 7 Phoenix Manhattan Crain’s by S&P Capital IQ. BMC Software Inc. Insight Venture Partners, Elliott $8,245.6 Systems software 5/6 9/10 The biggest acquisition by far 8 Houston Management Corp. 1 was Verizon Communications’ purchase Manhattan of British Vodafone Group’s share of Gardner Denver Inc. Kohlberg Kravis Roberts & Co. $4,139.5 Industrial machinery 3/7 7/30 Verizon Wireless. The $130 billion 9 Wayne, PA Manhattan deal, announced in September, was HSBC Finance Corp., portfolio of Newcastle Investment Corp. 2 $4,000.0 Consumer finance 3/5 4/1 the third-largest corporate transac- 10 personal unsecured and personal Manhattan tion of all time, according to homeowner loans Bloomberg News. To fund the pur- Various locations, United States chase, Verizon sold nearly $50 bil- Multi Development BV Blackstone Real Estate Advisors $3,832.7 Real estate operating companies 7/23 10/3 lion worth of bonds, the biggest 11 Gouda, Netherlands Manhattan company debt offering ever. PB Capital Corp., institutional Union Bank $3,700.0 Thrifts and mortgage finance 4/5 6/24 “Investment spending since the 12 commercial real estate lending San Francisco financial crisis has been extremely portfolio and platform lackluster,” said Manhattan-based Manhattan Robert Profusek, global head of Nationstar Mortgage, mortgage New Residential Investment Corp. $3,300.0 Thrifts and mortgage finance 12/18 Pending M&A for law firm Jones Day. Mr. 13 servicing assets Manhattan Profusek saw the increased value of Various locations, United States 2013 deals as an indication that the Saks Inc. Hudson’s Bay Co. $2,725.8 Department stores 7/28 11/4 market is turning a corner. “Fear 14 Manhattan Toronto seems to have left the equation, and DONG Energy A/S Goldman Sachs Group’s merchant banking $2,379.3 Integrated oil and gas 10/2 Pending that means people are going to start 15 Fredericia, Denmark division 3 investing again,” he said. Manhattan Although the total value of deals IMG Worldwide Inc. Silver Lake4 $2,300.0 Movies and entertainment 12/18 Pending involving New York-based compa- 16 Manhattan Menlo Park, CA nies doubled over the previous Portfolio of 294 net lease assets American Realty Capital Healthcare Trust Inc. 5 $2,291.6 Real estate operating companies 8/8 Pending year’s, the actual number of transac- 17 Various locations, United States Manhattan tions was down 1%, owing in part to Clal Industries Ltd. Access Industries Inc. (remaining 50.1%) $2,285.9 Industrial conglomerates 6/23 11/6 a few high-value targets. Eight of 18 Tel-Aviv, Israel Manhattan the ones on Crain’s list were for more The Jones Group Inc. Sycamore Partners $2,228.7 Apparel, accessories and luxury goods 12/19 Pending than $5 billion, totaling $261 bil- 19 Manhattan Manhattan lion, or roughly 60% of the total CapLease Inc. American Realty Capital Properties Inc. $2,123.7 Diversified REITs 4/19 11/5 market. Some observers saw those 20 Manhattan Manhattan megadeals as masking a less-than- Administradora de Fondos de MetLife Inc. $2,001.3 Asset management and custody banks 2/1 9/27 stellar year. 21 Pensiones Provida Manhattan “If you look at deal volume in Santiago, Chile the aggregate, it was still a pretty Terminal Investment Ltd. (35%) Global Infrastructure Partners $1,929.0 Marine ports and services 4/1 5/29 quiet year,” said Chris Ruggeri, a 22 Bergen op Zoom, Netherlands Manhattan principal at Deloitte,a financial ad- Patheon Inc. JLL Partners and DSM $1,922.5 Life-sciences tools and services 11/18 Pending visory firm headquartered in Man- 23 Durham, NC Manhattan and Netherlands hattan. “We did see a pickup in the fourth quarter and into the new Panasonic Healthcare Co. Kohlberg Kravis Roberts & Co., $1,678.0 Health care equipment 9/27 Pending year.” 24 Tokyo Panasonic Corp. Manhattan and Osaka, Japan Ms. Ruggeri pointed to health care, consumer and industrial prod- The Brickman Group Ltd. Kohlberg Kravis Roberts & Co. $1,600.0 Environmental and facilities services 11/11 Pending 25 Gaithersburg, MD Manhattan ucts, and technology as sectors that did well in 2013 and could continue WMS Industries Inc. Scientific Games Corp. $1,559.6 Casinos and gaming 1/30 10/18 Waukegan, IL Manhattan to do so in 2014. 26 Seven of the top 30 deals in New Portfolio of 924 long-duration AR Capital $1,452.1 Real estate operating companies 6/2 8/30 York City fell into the consumer dis- 27 net lease properties Manhattan Various locations, United States cretionary sector, or nonessential goods and services, totaling $72 bil- Lloyds Banking Group Cerberus Capital Management $1,404.4 , corporate Specialized finance 11/29 Pending lion. That included the sale of Saks 28 real estate portfolio Manhattan United Kingdom Inc. to Canada’s Hudson’s Bay Co. (No. 14) in a $2.7 billion purchase that General Motors Building Sungate Trust (40%) $1,400.0 Real estate operating companies 5/31 5/31 Manhattan United States closed in November. 29 With companies sitting on sig- CSM NV, Bakery Supplies Business Rhone Capital $1,351.6 Packaged foods and meats 3/25 7/4 nificant cash reserves, a stabilizing Netherlands Manhattan 30 European economy and the Fed ta- Source: S&P Capital IQ, (212) 438-8701, www.capitaliq.com. Additional research by Suzanne Panara and Nicholas Wells. New York area includes New York City and Nassau, Suffolk and Westchester counties. List pering off its stimulus, observers are includes announced transactions for which terms were disclosed and that were not canceled and in which a buyer or target was based in the New York area. Includes private-equity deals. Data on announced deals are as of optimistic about 2014. A number of Jan. 31, 2014. 1-Additional parties: GIC Special Investments Pte., Bain Capital Private Equity, Golden Gate Private Equity Inc. 2-Additional parties: Springleaf Holdings, Blackstone Tactical Opportunities Advisors. 3-Additional parties: The ATP Group, Pfa Pension Forsikringsaktieselskab, asset management arm, management of DONG Energy A/S. 4-Additional parties: William Morris Endeavor Entertainment (Beverly Hills, deals were announced in January,in- CA), Mubadala Development Co. (Abu Dhabi, United Arab Emirates). 5-Additional parties: AR Capital, American Realty Capital Global Trust Inc. cluding Manhattan-based Forest Laboratories Inc.’s $2.9 billion bid for FOR ALL CRAIN’S LISTS, VISIT WWW.CRAINSNEWYORK.COM/LISTS. Aptalis Pharma. —nicholas wells 16 | Crain’s New York Business | February 10, 2014 Risk doesn’t have to be risky Mid-market companies face many risks – such as making critical decisions about cloud-based services, M&A transactions, and going global. At Deloitte Growth Enterprise Services, we offer the services and perspectives to help inform those decisions, so in addition to managing risk, your company can be best positioned to benefit from it. To learn more about Deloitte Growth Enterprise Services, contact Robin Matza, Greg Koslow, or Joe Fisher at +1 212 492 4000 or email us at [email protected] Gain insight with Perspectives, our series of reports, webcasts, and events for mid-market and privately held companies at www.deloitte.com/us/dges As used in this document, “Deloitte” means Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Financial Advisory Services LLP, and Deloitte Tax LLP, which are separate subsidiaries of Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting. Copyright © 2014 Deloitte Development LLC. 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SSNY designated 12/17/13. SSNY designated as agent location: NY County. LLC formed in office of LLC: Joseph Chetrit, c/o The Thursday February 13th at 8am. as agent of LLC upon whom process of LLC upon whom process against Delaware (DE) on 12/11/13. Princ. Chetrit Group LLC, 512 Seventh Ave., against it may be served. SSNY shall it may be served. SSNY shall mail office of LLC: 270 Park Ave., NY, NY 15th Fl., NY, NY 10018. SSNY desig- This free event, being held at Pace mail process to Princ. Office of LLC: process to c/o Corporation Service 10017. SSNY designated as agent of nated as agent of LLC upon whom University in Lower Manhattan, will c/o Emerald Development Managers Co. (CSC), 80 State St., Albany, NY LLC upon whom process against it may process against it may be served. include a networking breakfast LP, 909 Third Avenue, NY, NY 10022. 12207-2543. DE addr. of LLC: CSC, be served. SSNY shall mail process SSNY shall mail process to the LLC DE address of LLC: Corporation 2711 Centerville Rd., Ste. 400, to c/o Corporation Service Co. (CSC), at the addr. of its princ. office. DE reception followed by a panel of Service Co., 2711 Centerville Rd., Ste. Wilmington, DE 19808. Arts. of Org. 80 State St., Albany, NY 12207-2543. addr. of LLC: Corporation Service industry leaders. 400, Wilmington, DE 19808. Cert of filed with Secy. of State of DE, 401 DE addr. of LLC: c/o CSC, 2711 Co., 2711 Centerville Rd., Ste. 400, Wilmington, DE 19808. Arts. of Org. Follow Twitter: #Cybercrime2014 Formation filed with DE Secy of State, Federal St., Ste. 4, Dover, DE 19901. Centerville Rd., Ste. 400, Wilmington, 401 Federal St., Ste 4. Dover, DE Purpose: Any lawful activity. DE 19808. Cert. of Form. filed with filed with Secy. of State of DE, Div. of Corps., John G. Townsend Bldg., To RSVP email: 19901. Purpose: any lawful activity. NOTICE OF FORMATION OF LIMITED Secy. of State of DE, Secy. of State 401 Federal St. - Ste. 4, Dover, DE [email protected] Notice of Qualification of BLUELINE LIABILITY COMPANY. NAME: 1111 Corp. Dept., Records Section, 19901. Purpose: Any lawful activity. COMM LLC. Authority filed with Secy. LEXINGTON TAQUERIA LLC. Articles Townsend Bldg., Loockerman & of State of NY (SSNY) on 01/27/14. of Organization were filed with the Federal Sts., Dover, DE 19901. NOTICE OF QUALIFICATION of Bon POSITION AVAILABLE Office location: NY County. LLC Secretary of State of New York Purpose: Any lawful activity. Vivat, LLC. Authority filed with Sec. of Portfolio Manager formed in Delaware (DE) on 12/14/10. (SSNY) on 12/08/10. Office location: Notice of Qualification of AnovoRx State of NY (SSNY) on 12/2/13. Office (Citadel LLC – New York, NY) SSNY designated as agent of LLC New York County. SSNY has been Group, LLC. Authority filed with Secy. location: NY County. LLC formed in NE on 3/18/13. SSNY designated agent Trade & mng portfolio of US Interest upon whom process against it may designated as agent of the LLC upon of State of NY (SSNY) on 06/14/13. whom process against it may be upon whom process may be served Rate Options profitably. Reqs a Bachs be served. SSNY shall mail process to Office location: NY County. LLC c/o Corporation Service Co. (CSC), served. SSNY shall mail a copy of formed in Tennessee (TN) on 05/2/12. and shall mail copy of process against degr in Finan, Econ, Math, or rel quant 80 State St., Albany, NY 12207-2543. process to the LLC, c/o Helbraun & Princ. office and TN addr. of LLC: 1710 LLC to principal business address: 264 field & 5 yrs exp trad’g & mng’g non- DE addr. of LLC: c/o CSC, 2711 Levey LLP, 110 William Street, Suite N. Shelby Oaks Dr., Ste. 2, Memphis, Water St. Apt. 3A, NY, New York 10038. linear & linear interest rate risks for Centerville Rd., Ste. 400, Wilmington, 1410, New York, New York 10038. TN 38134. SSNY designated as NE address of LLC is: 1821 Kristen portfolios w/a portfolio size/equiv DE 19808. Arts. of Org. filed with Purpose: For any lawful purpose. agent of LLC upon whom process Court, North Platte, NE 69101. Cert. of capital allocation of greater than LLC filed with Sec. of State of NE: 1445 Secy. of State, Div. of Corps., 401 NOTICE OF FORMATION OF LIMITED against it may be served. SSNY shall K St. State Capitol, Ste 1301 Lincoln, NE $350mm. Stated exp must incl 2 yrs w/ Federal St., Dover, DE 19901. LIABILITY COMPANY. NAME: 668 6TH mail process to the LLC at the princ. 68509. Purpose: any lawful activity. each of follow’g: wrk’g w/ Interest Purpose: Any lawful activity. AVE TACOS LLC. Articles of Organization office of the LLC. Arts. of Org. filed Rate Options incl adv knowldg of Notice of Qualification of Dropship were filed with the Secretary of State with Secy. of State, 312 Rosa L. Parks Notice of Formation of 246 HOSPITALITY trad’g, mrkt characteristics, pric’g, Vendor Group LLC. Authority filed of New York (SSNY) on 10/24/13. Ave., 6th Fl., Nashville, TN 37243- GROUP LLC. Arts. of Org. filed with mrkt liquidity & volatility; Directly with Secy. of State of NY (SSNY) on Office location: New York County. 1102. Purpose: Any lawful activity. Secy. of State of NY (SSNY) on mng’g & mentor’g jr tradrs & analysts; 1/15/14. Office location: New York SSNY has been designated as agent Notice of Formation of SDF62 12/23/13. Office location: NY County. & use of quant & math techniques incl County. LLC formed in California of the LLC upon whom process Jamaica Avenue LLC. Arts. of Org. Princ. office of LLC: 248 W. 14th St., dynamics of interest rates & their (CA) on 5/8/12. SSNY designated as against it may be served. SSNY shall filed with NY Dept. of State on NY, NY 10011. SSNY designated as distributions, skew mdl’g, volatility agent of LLC upon whom process mail a copy of process to the LLC, 10/31/13. Office location: NY agent of LLC upon whom process against it may be served. SSNY shall surface calibration & portfolio con- against it may be served. SSNY shall c/o Dos Toros Taqueria, 11 Carmine County. Princ. bus. addr.: 825 3rd mail process to: 1750 Howard Pl., Street, New York, NY 10014. Ave., Fl 37, NY, NY 10022. Sec. of mail process to the LLC, 3281 struction using options. F/T. Richmond Ave., Staten Island, NY Resumes: ER/LW, Attn: R-0198, Redlands, CA 92373, also address to Purpose: For any lawful purpose. State designated agent of LLC upon be maintained in CA. Arts of Org. whom process against it may be 10312. As amended by Cert. of Citadel LLC, 131 S Dearborn St, 32nd NOTICE OF FORMATION OF LIMITED filed with the CA Secy. of State, 1500 served and shall mail process to: c/o Amendment filed with SSNY on Fl, Chicago, IL 60603. LIABILITY COMPANY. NAME: VDG 01/07/14, name changed to 248 11th St., Sacramento, CA 95814. Electronics, LLC. Articles of CT Corporation System, 111 8th Purpose: any lawful activities. Ave., NY, NY 10011, regd. agent HOSPITALITY GROUP LLC. Organization were filed with the Purpose: Any lawful activity. TELECOMMUNICATIONS Notice of Qualification of ORCHARD Secretary of State of New York (SSNY) upon whom process may be served. PLATFORM ADVISORS, LLC. Authority on December 10, 2013. Office location: Purpose: any lawful activity. Notice of Qualification of MAIDENFORM filed with Secy. of State of NY (SSNY) New York County. SSNY has been Notice of Qualification of 155 West LLC. Authority filed with Secy. of on 01/28/14. Office location: NY designated as agent of the LLC upon 23rd Street Holder LLC. Authority State of NY (SSNY) on 12/17/13. County. LLC formed in Delaware (DE) whom process against it may be Office location: NY County. LLC 33 East 33rd Street filed with NY Dept. of State on on 01/17/14. SSNY designated as served. SSNY shall mail a copy of 12/11/13. Office location: NY County. formed in Delaware (DE) on 11/20/13. New York, NY 10016 agent of LLC upon whom process process to the LLC, VDG Electronics, Princ. bus. addr.: 805 3rd Ave., 7th SSNY designated as agent of LLC 212-532-7400 against it may be served. SSNY shall LLC, at the LLC’s principal business Fl., NY, NY 10022. LLC formed in upon whom process against it may be [email protected] mail process to Angela Ceresnie, 902 address at 430 West Broadway, #2B, DE on 7/11/13. NY Sec. of State served. SSNY shall mail process to Broadway, Ste. 1611, NY, NY 10016. New York, New York 10012. Purpose: designated agent of LLC upon whom Corporation Service Co., 80 State St., EMERGENCY DE addr. of LLC: c/o Corporation For any lawful purpose. There is no process against it may be served Albany, NY 12207-2543. DE addr. of COMMUNICATIONS Service Co., 2711 Centerville Rd., predetermined dissolution date and shall mail process to: c/o CT LLC: 2711 Centerville Rd., Ste. 400, Wilmington, DE 19808. Arts. of Org. SYSTEMS Ste. 400, Wilmington, DE 19808. Notice of Qualification of LoanCare, Corporation System, 111 8th Ave., filed with DE Secy. of State, 401 SPECIALISTS Arts. of Org. filed with Secy. of State, LLC. Authority filed with NY Dept. of NY, NY 10011, regd. agent upon Federal St., Ste. 4, Dover, DE 19901. • FREE PICKUP & DELIVERY 401 Federal St., Ste. 4, Dover, DE State on 1/14/14. Office location: NY whom process may be served. DE 19901. Purpose: Any lawful activity. Purpose: Any lawful activity. • 48 HOUR TURNAROUND County. LLC formed in VA on 12/2/13. addr. of LLC: 1209 Orange St., ON REPAIRS NOTICE OF QUALIFICATION OF GSO NY Sec. of State designated agent of Wilmington, DE 19801. Cert. of Notice of Formation of A2 COLLEC- • FREE ENGRAVING MMBU Acquisition LLC. Authority LLC upon whom process against it may Form. filed with DE Sec. of State, TIONS, LLC. Arts. of Org. filed with filed with the Sect of State of NY (SSNY) be served and shall mail process to: 401 Federal St., Dover, DE 19901. Secy. of State of NY (SSNY) on • SHORT & LONG TERM Purpose: all lawful purposes. RENTALS on 12/19/13. N.Y. Office Loc: NY CT Corporation System, 111 8th 06/24/13. Office location: NY County. County. LLC formed in DE on 11/1/13. Ave., NY, NY 10011. VA and principal NOTICE OF QUALIFICATION of SSNY designated as agent of LLC SSNY has been designated as agent business address: 3637 Sentara Way, YIPCPA, LLC. Application for upon whom process against it may be of LLC upon whom process against Virginia Beach, VA 23452. Cert. of Org. Authority filed with the Secretary of served. SSNY shall mail process to it may be served and shall mail filed with VA Clerk of the Commission, State of NY (SSNY) on 09/17/13. Corporation Service Co., 80 State St., process to: 345 Park Avenue, 31st FL, 1300 E. Main St., Richmond, VA Office location: NY County. LLC Albany, NY 12207, regd. agent upon NY, NY 10154. DE addr. of LLC: 200 23219. Purpose: all lawful purposes. formed in FL on 09/17/08. SSNY whom and at which process may be Bellevue Pkwy, Ste 210, Wilmington, THE HAYES LAW GROUP LLC filed designated agent upon whom process served. Purpose: Any lawful activity. PUBLIC & LEGAL 19809. Cert of Form filed with DE Sect Articles of Organization with the against it may be served. The Post NOTICE OF FORMATION OF of State, 401 Federal St, Ste 4, Dover, Department of State of NY on Office address to which the SSNY PROFESSIONAL SERVICE LIMITED NOTICES DE 19901. Purpose: any lawful activity. 12/12/2013. Office Location: County of shall mail a copy of any process LIABILITY COMPANY. NAME: Notice of Formation of HUDSON Notice of Formation of Tic Toc Tower New York. The street address is 1180 against the LLC served upon him/her KOSSOFF, PLLC. Articles of BANNER LLC. Arts. of Org. filed LLC. Arts. of Org. filed with NY Dept. Avenue of the Americas, 8th Fl. NY, NY is: 711 Alcazar Ave., Coral Gables, FL Organization were filed with the with Secy. of State of NY (SSNY) on of State on 12/13/13. Office location: 10036. The Secretary of State of NY 33134. Principal business address: Secretary of State of New York (SSNY) 01/15/14. Office location: NY County. NY County. Sec. of State designated ("SSNY") has been designated as 2 South Biscayne Boulevard, Ste on 12/06/13. Office location: New York Princ. office of LLC: 826 Broadway, agent of LLC upon whom process agent of the PLLC upon whom process 2690, Miami, FL. Certificate of LLC County. SSNY has been designated NY, NY 10003. SSNY designated as against it may be served and shall against it may be served. SSNY filed with Secretary of State of FL as agent of the PLLC upon whom agent of LLC upon whom process mail process to: c/o Andrew W. shall mail a copy of any such process located at P.O. Box 6327. Purpose: process against it may be served. against it may be served. SSNY Heymann, Solomon Blum Heymann served to: 3 Harding Lane, Westport any lawful act or activity. SSNY shall mail a copy of process shall mail process to the LLC at the LLP, 40 Wall St., 35th Fl., NY, NY CT 06880. Purpose: to practice law. Notice of Qualification of DUNBARRE to the PLLC, c/o Mitchell Kossoff, addr. of its princ. office. Purpose: 10005, principal business address. NOTICE OF FORMATION of City Of INSURANCE AGENCY, LLC. Authority 217 Broadway, Suite 401, New York, Any lawful activity. Purpose: all lawful purposes. New York Early Stage Life Sciences filed with Secy. of State of NY (SSNY) New York 10007. Purpose: For the Notice of Qualification of 1-6 Sears Notice of Qualification of LL Q313, LLC. Fund LLC. Articles of Organization on 11/07/13. Office location: NY practice of the profession of Law. Elmsford LLC. Authority filed with NY Authority filed with NY Dept. of State were filed with the Secretary of State County. LLC formed in Delaware (DE) Notice of Qualification of Pacific Sales Dept. of State on 12/12/13. Office on 12/27/13. Office location: NY County. of New York (SSNY) on 12/20/13. on 08/22/13. Princ. office of LLC: 919 Kitchen and Bath Centers, LLC. location: NY County. Princ. bus. Princ. bus. addr.: 600 22nd St., Ste. Office location: New York County. N. Market St., Ste. 725, Wilmington, Authority filed with NY Dept. of State addr.: 825 3rd Ave., Fl 37, NY, NY 306, Oak Brook, IL 60523. LLC formed SSNY has been designated as the DE 19801. SSNY designated as on 12/31/13. Office location: NY 10022. LLC formed in DE on in DE on 8/9/13. NY Sec. of State agent of the LLC upon whom process agent of LLC upon whom process County. LLC formed in CA on 10/5/12. 1/31/08. NY Sec. of State designated designated agent of LLC upon whom against it may be served. SSNY against it may be served. SSNY shall NY Sec. of State designated agent of agent of LLC upon whom process process against it may be served and shall mail service of process (SOP) to mail process to Corporation Service LLC upon whom process against it against it may be served and shall shall mail process to: c/o CT Corporation principal business address: c/o New Co., 80 State St., Albany, NY 12207, may be served and shall mail process mail process to: c/o CT Corporation System, 111 8th Ave., NY, NY 10011, York City Economic Development regd. agent upon whom and at to: c/o CT Corporation System, 111 System, 111 8th Ave., NY, NY 10011, regd. agent upon whom process may Corporation, 110 William Street, New which process may be served. DE 8th Ave., NY, NY 10011, regd. agent regd. agent upon whom process may be served. DE addr. of LLC: c/o The York, New York 10038. New York addr. of LLC: 2711 Centerville Rd., upon whom process may be served. be served. DE addr. of LLC: 1209 Corporation Trust Co., 1209 Orange City Economic Development Ste. 400, Wilmington, DE 19808. Principal office address: 7601 Penn Orange St., Wilmington, DE 19801. St., Wilmington, DE 19801. Cert. of Corporation is designated as agent Arts. of Org. filed with DE Secy. of Ave. S., Richfield, MN 55423. Cert. Cert. of Form. filed with DE Sec. of Form. filed with DE Sec. of State, for SOP at 110 William Street, New State, 401 Federal St., Dover, DE of Org. filed with CA Sec. of State State, 401 Federal St., Dover, DE 401 Federal St., Dover, DE 19901. York, New York 10038. Purpose: any 19801. Purpose: Insurance agency 1500 11th St., Sacramento, CA 19901. Purpose: all lawful purposes. Purpose: all lawful purposes. lawful purpose. and insurance marketing services. 95814. Purpose: all lawful purposes. 18 | Crain’s New York Business | February 10, 2014 TO PLACE A CLASSIFIED AD CALL 1-800-444-6007 OR VISIT CRAINSNEWYORK.COM PUBLIC & LEGAL NOTICES Notice of Qualification of PJT PARTNERS Notice of Qualification of LSREF2 Oreo Qualification of GSO E&P Holdings I LP. Notice of Qualification of ALVAREZ & Notice of Qualification of First NY LLC. LLC. Authority filed with Secy. of State (Direct), LLC. Authority filed with NY Authority filed with the Sect. of State MARSAL LIQUID ASSET MANAGE- Authority filed with NY Dept. of State of NY (SSNY) on 01/17/14. Office Dept. of State on 1/23/14. Office of NY (SSNY) on 12/23/13. Office MENT SERVICES, LLC. Authority on 1/17/14. NYS fictitious name: First location: NY County. LLC formed in location: NY County. Princ. bus. addr.: Loc: NY County. LP formed in DE on filed with Secy. of State of NY (SSNY) NY I, LLC. Office location: NY County. Delaware (DE) on 01/15/14. SSNY 2711 N. Haskell Ave., Ste. 1800, Dallas, 12/19/13. SSNY has been designated on 01/10/14. Office location: NY LLC formed in DE on 7/5/13. NY Sec. designated as agent of LLC upon whom TX 75204. LLC formed in DE on as agent of LP upon whom process County. LLC formed in Delaware (DE) of State designated agent of LLC upon process against it may be served. SSNY 6/17/13. NY Sec. of State designated against it may be served and shall on 01/02/14. Princ. office of LLC: whom process against it may be served shall mail process to c/o Corporation agent of LLC upon whom process mail process to: 345 Park Avenue, 600 Madison Ave., 8th Fl., NY, NY and shall mail process to: c/o CT Service Co. (CSC), 80 State St., Albany, against it may be served and shall 31st FL, NY, NY 10154. DE address 10022. SSNY designated as agent of Corporation System, 111 8th Ave., NY, NY 12207-2543. DE addr. of LLC: mail process to: c/o CT Corporation of LP: 200 Bellevue Pkwy, Ste 210, LLC upon whom process against it NY 10011, regd. agent upon whom CSC, 2711 Centerville Rd., Ste. 400, System, 111 8th Ave., NY, NY 10011, Wilmington, 19809. Name/addr. of may be served. SSNY shall mail process may be served. DE address Wilmington, DE 19808. Arts. of Org. regd. agent upon whom process may genl. ptr. avail from SSNY. Cert. of process to c/o Corporation Service of LLC: 1209 Orange St., Wilmington, filed with Secy. of State, Jeffrey W. be served. DE addr. of LLC: 1209 LP filed with DE Sect. of State, 401 Co. (CSC), 80 State St., Albany, NY DE 19801. Cert. of Form. filed with DE Bullock, 401 Federal St., Ste. 3, Dover, Orange St., Wilmington, DE 19801. Federal St, Ste 4, Dover, DE 19901. 12207-2543. DE addr. of LLC: c/o Sec. of State, 401 Federal St., Dover, DE 19901. Purpose: Any lawful activity. Cert. of Form. filed with DE Sec. of Purpose: any lawful activity. CSC, 2711 Centerville Rd., Ste. 400, DE 19901. Purpose: all lawful purposes. State, 401 Federal St., Dover, DE Wilmington, DE 19808. Arts. of Org. Notice of Formation of RZR/58 19901. Purpose: all lawful purposes. LINCOLN PARK 65 LLC, a domestic filed with Secy. of State of DE, 401 Notice of Formation of GM 87 Realty ASSOCIATES LLC. Arts. of Org. filed LLC, filed with the SSNY on 1/2/14. Federal St., Dover, DE 19901. LLC, Art. of Org. filed Secy. of State with Secy. of State of NY (SSNY) on CONCHOID CAPITAL LLC, Arts. of Org. Office location: New York County. Purpose: Any lawful activity. of NY (SSNY) on 11/08/2013. Office 1/7/14. Office location: NY County. filed with the SSNY on 01/21/2014. SSNY is designated as agent upon location: New York County. SSNY SSNY designated as agent of LLC Office loc: NY County. SSNY has been whom process against the LLC may Notice of Formation of ELLINGTON 18 Designated as agent of LLC upon whom upon whom process against it may be designated as agent upon whom be served. SSNY shall mail process to LLC. Arts. of Org. filed with Secy. of process against it may be served. SSNY served. SSNY shall mail process to: process against the LLC may be Kristina Xiaomeng Pi, 29 W. 65 St., Unit State of NY (SSNY) on 12/13/13. shall mail copy of process to: The 60 E. 56th St., 11th Fl., New York, NY served. SSNY shall mail process to: 2E, NY, NY 10023. General Purpose. Office location: NY County. SSNY LLC, 87 Mulberry St, New York, NY 10022. Purpose: any lawful activity. 459 West Broadway, Ste. 4N, NY, NY designated as agent of LLC upon 10013. Purpose: any lawful activity. 10012. Purpose: Any Lawful Purpose. 666 COURTLANDT AVE. LLC, a whom process against it may be WASHINGTON MARKET PEDIATRICS, domestic LLC, filed with the SSNY on served. SSNY shall mail process to NASHBAN MANSUR LLC, a domestic PLLC, a Prof. LLC, Arts. of Org. filed NOTICE OF FORMATION OF 12/10/13. Office location: New York c/o Rosenberg & Estis, P.C., 733 LLC, Arts. of Org. filed with the SSNY with the SSNY on 11/18/2013. Office Vollmond Consulting. Arts of Org County. SSNY is designated as agent Third Ave., NY, NY 10017. Purpose: on 12/4/13. Office location: New York. loc: NY County. SSNY has been des- filed with Secy of State of NY (SSNY) upon whom process against the LLC Any lawful activity. SSNY is designated as agent upon ignated as agent upon whom process on 1/23/13. SSNY designated agent may be served. SSNY shall mail process whom process against the LLC may against it may be served. SSNY shall upon whom process may be served to Mandell Mandell LLP, 3000 Marcus NOTICE OF FORMATION OF Andthem, be served. SSNY shall mail process to: mail process to: 50 Murray St, Apt and shall mail copy of process against Ave., Ste. 2E7, Lake Success, NY LLC. Arts of Org filed with Secy of David Mansur, 402 W. 45th St., #5C, #1410, NY, NY 10007. Purpose: To LLC: 311 E. 75th St, #1D, NY, NY 11042. General Purpose. State of NY (SSNY) on 10/28/13. NY, NY 10036. Purpose: Fundraising. Office location: NY County. SSNY Practice The Profession Of Medicine. 10021. Purpose: any lawful act. Notice of Formation of SLATE 470 designated agent upon whom 4TH AVENUE PARTNERS LLC. Arts. NOTICE OF FORMATION OF LOLLY- NOTICE OF FORMATION OF Jensen NOTICE OF FORMATION OF process may be served and shall of Org. filed with Secy. of State of NY HOP LLC. Arts of Org filed with Secy Partners, LLC. Arts of Org filed with Pomeroy Law Group PLLC. Arts of mail copy of process against LLC to (SSNY) on 01/13/14. Office location: of State of NY (SSNY) on 12/11/13. Secy of State of NY (SSNY) on 1/21/14. Org filed with Secy of State of NY principal business address: 315 E. NEW YORK County. SSNY designated Office location: NY County. SSNY Office location: New York County. SSNY (SSNY) on 12/9/13. Office location: 86th St, #7PE, NY, NY 10028. as agent of LLC upon whom process designated agent upon whom designated agent upon whom process NY County. SSNY designated agent Purpose: any lawful act. against it may be served. SSNY process may be served and shall may be served and shall mail copy of upon whom process may be served shall mail process to: The LLC, c/o mail copy of process against LLC to process against LLC to principal busi- and shall mail copy of process Notice of Formation of 315 Wyckoff Slate Property Group LLC, 850 Third principal business address: 1919 ness address: 115 Mercer St., NY, NY against LLC to principal business Holding LLC. Arts. of Org. filed with Ave., Ste. 16-B, NY, NY 10022, Attn: Madison Ave, Ste 324, NY, NY 10012. Purpose: any lawful act. address: 230 Central Park W NY, NY Secy. of State of NY (SSNY) on Martin Nussbaum. Purpose: any 10035. Purpose: any lawful act. 10024. Purpose: any lawful act. 12/23/13. Office location: NY County. NOTICE OF FORMATION of White lawful activities. SSNY designated as agent of LLC Square Art Collection, LLC. Articles Notice of Formation of Transatlantique Notice of Formation of LA CENTRAL Notice of Formation of Coin.Co upon whom process against it may Private Wealth LLC. Arts. of Org. filed of Organization filed with the OWNER LLC. Arts. of Org. filed with be served. SSNY shall mail process Secretary of State of NY (SSNY) on Systems LLC. Arts. of Org. filed with with Secy. of State of NY (SSNY) on Secy. of State of NY (SSNY) on Secy. of State of NY (SSNY) on 01/16/14. to: c/o Margate Atlantic, 250 Passaic 12/18/13. Office location: NY County. 11/26/13. Office location: NY County. 1/23/14. Office location: NY County. Street, Newark, NJ 07104. Purpose: SSNY has been designated as agent Office location: NY County. Princ. SSNY designated as agent of LLC SSNY designated as agent of LLC office of LLC: One Penn Plaza, 36th any lawful purpose. upon whom process against it may be upon whom process against it may upon whom process against it may be served. The Post Office address Fl., NY, NY 10019. SSNY designated served. SSNY shall mail process to: be served. SSNY shall mail process as agent of LLC upon whom process BSW Auto llc -New LLC, Rim The LLC, 520 Madison Ave., NY, NY to which the SSNY shall mail a copy to: The LLC, 826 Broadway, 11th Fl., of any process against the LLC against it may be served. SSNY shall Specialists - Contact - Phone: 1 646 10022. Purpose: any lawful activities. New York, NY 10003. Purpose: any mail process to c/o McLaughlin & served upon him is CT Corporation lawful activity. 703 6346 Email: [email protected] System, 111 8th Avenue, New York, Stern, LLP, 260 Madison Ave., NY, NY Notice of Formation of EMIL/NAVY NY 10011. Purpose of LLC: to ECT Partners LLC. Arts. of Org. filed 10016. Purpose: Any lawful activity. Name of LLC: Plaza Retail Properties YARD LLC. Arts. of Org. filed with engage in any lawful act or activity. with NY Secy. of State (SSNY) on NY LLC. Arts. of Org. filed with NY Secy. of State of NY (SSNY) on BOGOBURR ENTERPRISES LLC, 12/16/13. Office location: NY County. 01/13/14. Off. loc.: NY Co. SSNY Arts. of Org. filed with the SSNY on Dept. of State: 1/7/14. Office loc.: NY Notice of Formation of 1804-06 2ND des. as agent of LLC upon whom Co. Sec. of State designated agent of SSNY designated as agent of LLC 01/06/2014. Office loc: NY County. upon whom process against it may REALTY LLC. Arts. of Org. filed with process may be served. SSNY shall SSNY has been designated as agent LLC upon whom process against it Secy. of State of NY (SSNY) on mail process to LLC c/o Elizabeth may be served and shall mail process be served. SSNY shall mail process upon whom process against the LLC to: 24 W. 57th St., Ste. 504, New 07/09/13. Office location: NY County. Tuminello, 325 W 71st St., #3F, New may be served. SSNY shall mail to: Business Filings Inc., 187 Wolf SSNY designated as agent of LLC York, NY 10023. Purpose: General. Rd., Ste. 101, Albany, NY 12205, York, NY 10019, Attn: David Emil. process to: Maggie Gonzalez, 10 E. Purpose: any lawful activity. upon whom process against it may be 40th St., Suite 3203, NY, NY 10016. regd. agt. upon whom process may served. SSNY shall mail process to the J. STREICHER ADVISORY LLC, a Purpose: Any Lawful Purpose. be served. Purpose: any lawful act. LLC, 111 Broadway, Rm. 1202, NY, NY foreign LLC, filed with the SSNY on NOTICE OF FORMATION OF 10006. Purpose: Any lawful activity. 11/12/13. Office location: New York Notice of formation of FASCET India Notice of formation of RTR Siskopoulos Law Firm, LLP. Arts of County. SSNY is designated as LLC. Arts of Org filed with Secy of Productions, LLC Arts. of Org. filed Org filed with Secy of State of NY BROTHERS GRIN LLC, Arts. of Org. agent upon whom process against State of NY (SSNY) on 10/18/13. with the Sect'y of State of NY (SSNY) on 10/15/13. Office location: filed with the SSNY on 12/13/2013. the LLC may be served. SSNY shall Office location: NY County. SSNY (SSNY) on 1/17/2014. Office location, NY County. SSNY designated agent Office location: NY County. SSNY has mail process to: The LLC, 1 designated agent upon whom County of New York. SSNY has upon whom process may be served been designated as agent upon whom Exchange Plz., Ste. 312, NY, NY process may be served and shall been designated as agent of the LLC and shall mail copy of process process against the LLC may be 10006. General Purposes. mail copy of process against LLC to upon whom process against it may against LLP to principal business served. SSNY shall mail process to: principal business address: 224 W be served. SSNY shall mail process address: 33 West 19th St, 4th Flr, NY, 51 Mountain Ave., Hawthorne, NJ Notice of Formation of NYSANDY5 30th St, Ste 203, NY, NY 10001. to: 497 Greenwich St., Unit 3C, NY NY 10011. Purpose: any lawful act. 07506. Purpose: Any Lawful Purpose. NBP34 LLC. Arts. of Org. filed with Purpose: any lawful act. NY 10013. Purpose: any lawful act. Secy. of State of NY (SSNY) on Notice of Formation of Hedgehouse Nobleden LLC, Arts of Org filed with 01/21/14. Office location: NY County. 70 West 36th Street LLC. Arts. of Notice of Formation of TJ TSUKAH, LLC. Arts. of Org. filed with Secy. of SSNY on 01/10/14. Off. Loc.: New Princ. office of LLC: 60 Columbus Org. filed with NY Secy. of State LLC. Arts of Org filed with Secy of State of NY (SSNY) on 1/16/14. York County, SSNY designated as Circle, NY, NY 10023. SSNY designated (SSNY) on 01/09/14. Off. loc.: NY State of NY (SSNY) on 1/21/14. Office location: NY County. SSNY agent of LLC upon whom process as agent of LLC upon whom process Co. SSNY des. as agent of LLC upon Office location: NY County. SSNY designated as agent of LLC upon against it may be served. SSNY shall against it may be served. SSNY shall whom process may be served. SSNY designated agent upon whom process whom process against it may be mail a copy of process to: The LLC, mail process to Corporation Service shall mail process to c/o McLaren may be served and shall mail copy of served. SSNY shall mail process to: 196 Grand St., New York, NY 10013. Co., 80 State St., Albany, NY 12207. Engineering Group, Attn: Malcolm process against LLC to principal 8817 Wonderland Avenue, Los Purpose: to engage in any lawful act. Purpose: Any lawful activity. McLaren, 100 Snake Hill Rd, West business address: 185 E 85th St., #11H, Angeles, CA 90046. Purpose: any Nyack, NY 10994. Purpose: General. NY, NY 10028. Purpose: any lawful act. lawful activity. Notice of Qualification of ML 29 Notice of Qualification of J.P. MORGAN SICKLES STREET, LLC. Authority U.S. POOLED CORPORATE FINANCE Notice of Qualification of THE LAST Notice of Qualification of JCMC 245-247 Notice of Qualification of OrbiMed filed with Secy. of State of NY (SSNY) INSTITUTIONAL INVESTORS V LLC. REZ, LLC. Authority filed with Secy. LLC. Authority filed with Secy. of State Global Healthcare Associates Fund, on 12/13/13. Office location: NY Authority filed with Secy. of State of NY of State of NY (SSNY) on 01/21/14. of NY (SSNY) on 12/27/13. Office L.P. Authority filed with Secy. of State County. LLC formed in Delaware (DE) (SSNY) on 01/21/14. Office location: Office location: NY County. LLC location: NY County. LLC formed in of NY (SSNY) on 01/21/14. Office on 12/05/13. Princ. office of LLC: c/o NY County. LLC formed in Delaware formed in Delaware (DE) on 01/15/14. Delaware (DE) on 12/03/13. Princ. location: NY County. LP formed in A & E Real Estate Holdings, LLC, 1065 (DE) on 12/11/13. Princ. office of LLC: Princ. office of LLC: Riccardo office of LLC: Joseph Chetrit, c/o The Delaware (DE) on 01/17/14. SSNY Ave. of the Americas, NY, NY 10018. 270 Park Ave., NY, NY 10017. SSNY Pellegrini, 955 Fifth Ave., Apt. 14B, NY, Chetrit Group LLC, 512 Seventh Ave., designated as agent of LP upon SSNY designated as agent of LLC designated as agent of LLC upon whom NY 10075. SSNY designated as agent 15th Fl., NY, NY 10018. SSNY desig- whom process against it may be upon whom process against it may process against it may be served. SSNY of LLC upon whom process against nated as agent of LLC upon whom served. SSNY shall mail process to be served. SSNY shall mail process shall mail process to c/o Corporation it may be served. SSNY shall mail process against it may be served. the Partnership, 601 Lexington Ave., to Douglas F. Eisenberg at the princ. Service Co. (CSC), 80 State St., Albany, process to the LLC at the addr. of its SSNY shall mail process to the LLC 54th Fl., NY, NY 10022. Name and office of the LLC. DE addr. of LLC: NY 12207-2543. DE addr. of LLC: c/o princ. office. DE addr. of LLC: 2711 at the addr. of its princ. office. DE addr. of each general partner are Corporation Service Co., 2711 CSC, 2711 Centerville Rd., Ste. 400, Centerville Rd., Ste. 400, Wilmington, addr. of LLC: Corporation Service available from SSNY. DE addr. of LP: Centerville Rd., Ste. 400, Wilmington, Wilmington, DE 19808. Cert. of Form. New Castle Cnty., DE 19808. Arts. of Co., 2711 Centerville Rd., Ste. 400, Corporation Service Co., 2711 DE 19808. Arts. of Org. filed with filed with Secy. of State of DE, Secy. Org. filed with Secy. of State of the Wilmington, DE 19808. Arts. of Org. Centerville Rd., Ste. 400, Wilmington, Secy. of State, Div. of Corps., John of State Corp. Dept., Records Section, State of DE, DE Dept. of State, Div. filed with Secy. of State of DE, Div. of DE 19808. Arts. of Org. filed with G. Townsend Bldg., 401 Federal St., Townsend Bldg., Loockerman & of Corps., John G. Townsend Bldg., Corps., John G. Townsend Bldg., Secy. of State, State of DE, Dept. of Ste. 4, Dover, DE 19901. Purpose: Federal Sts., Dover, DE 19901. 401 Federal St. - Ste. 4, Dover, DE 401 Federal St. - Ste. 4, Dover, DE State, Townsend Bldg., Dover, DE Any lawful activity. Purpose: Any lawful activity. 19901. Purpose: Any lawful activity. 19901. Purpose: Any lawful activity. 19901. Purpose: Any lawful activity. February 10, 2014 | Crain’s New York Business | 19 for example, brings volunteer soft- Others agree that there are ware engineers into public high virtues in moving slowly. “We have Computer science is NYC fiction schools to teach a morning class in to make sure that teachers that are time for them to get to work after- currently teaching computer science Continued from Page 3 with a CTE certificate actually blessing in disguise. ward. The regular teacher, who don’t suddenly become ineligible to single computer-science class. knows any computer science,” said “Because the state doesn’t helps the volunteer while learning do so,” said CSNYC’s Mr. Korth, “There is no pipeline of Chris Stephenson, executive direc- recognize that computer science with the students, eventually takes who also is a computer-science pro- computer-science teachers,” said tor of the Computer Science Teach- exists, that does set up a loophole,” over the teaching. fessor at New York University. Leigh Ann DeLyser, a computer- ers Association. The CTE certifi- said Nathaniel Granor, a former The program is in nine city high Having enough teachers is just science curriculum consultant at the cate could be for learning how to use schools this year;it is expected to be the start of making students literate Academy for Software Engineer- computer applications like Excel. in nine more by the fall. in software programming.Since the ing, a city high school near Union “There is a need for certification Any teacher fall, veteran middle-school science Square backed by the New York in multiple burgeoning industries,” ‘No silver bullet’ teacher Robert Rainford has been City Foundation for Computer Sci- acknowledged Josh Thomases, certified in Getting engineers to teach full- teaching Lego robotics and the in- ence Education, also known as deputy chief academic officer at the time would be a harder sell. Some troductory programming language CSNYC. New York City Department of Ed- another subject New York startups offer beginning Scratch to the entire sixth-grade Because most states, including ucation.“This is work that we’re do- salaries of as much as $85,000 for class at P.S./I.S. 30 in Bay Ridge, New York, don’t offer certification in ing with the state Education De- ‘is allowed to engineers,plus equity in the compa- Brooklyn. He was one of 40 teach- the subject, computer-science teach- partment as we speak.” ny, while on average in the metro ers trained during the summer as ers typically have been math teachers Several educator-training pro- teach it’ area, technologists earn $94,000, part of a software-engineering pilot who have picked up software skills on grams, operating with the blessing according to job board Dice.com. A program. their own. Major teaching universi- of city education officials, have put New York City teacher starts at Mr. Rainford had hoped that at ties just now are looking at ways to computer-science teachers into $46,000. least half of his approximately 150 start turning out computer-science more than two dozen schools this Mr. Thomases insists that the students would take to the subject teachers whether or not there are year. By September, that number city has to see which programs work and want to continue it next year. changes in certification. could reach 100, according to Evan Microsoft engineer who is East before they are rolled out sys- But having found that the concepts Korth, executive director of Coast director for the Microsoft- temwide, and that the Department of programming can be overwhelm- ‘Need for certification’ CSNYC.The organization, chaired backed volunteer program Tech- of Education needs to stay close to ing for many sixth-graders, he now New York offers Career and by venture capitalist Fred Wilson, nology Education and Literacy the computer engineering industry expects that only a quarter of the Technical Education certificates, has been spearheading the public- in Schools, or TEALS. “Any to keep coursework current. sixth-grade class will continue. but “there is no telling if a teacher private efforts. teacher [certified in another sub- “There is no one silver bullet,” “I’m very positive about the Some say that the fact that no ject] is allowed to teach it.” Mr. Thomases said. “There will outcome,” Mr. Rainford said. “But LISTEN to a discussion at teacher-certification bureaucracy The current system also allows continue to be a multitiered more realistic than I was in CrainsNewYork.com/podcasts exists is, at least in the short term, a for creative approaches. TEALS, strategy.” September.” WHAT THESE WALKING-DEAD COMPANIES DID (OR SAID THEY DID) Zombie stocks haunt Wall Street Able Energy: Seller of heating oil, based in Rockaway, N.J. Ticker: ABLE Estore of N.Y.: Plasma-television dealer, based in Brooklyn. Ticker: ESNY Continued from Page 3 Angeles charged 14 people with the over-the-counter market. While Wall Street,snap up control of a zom- pocketing $30 million in illegal it’s unclear how many of the 10,000 First Montauk Financial: Retail and institutional securities broker, based in Red bie stock, paying pennies a share. profits after cheating 20,000 in- stocks that trade over-the-counter are Bank, N.J. Ticker: FMFN Then they announce the company is vestors via a variety of pump-and- zombies or legitimate companies, Karver International: Ticket dealer to Broadway and off-Broadway shows, now in some sexy business like clean dumps. And with the stock market Mr. Feldman estimates that about based in Manhattan. Ticker: KRVR energy or social media and hype the rallying 30% in 2013, the SEC and 300 comply with rules requiring they stock however they can. (One com- the Financial Industry Regulatory regularly disclose financial informa- Walker Financial: Insurance sales, based in Garden City, L.I. Ticker: WLKF pany hired Pamela Anderson as its Authority last summer warned in- tion.The SEC has suspended trading Source: SEC filings celebrity spokeswoman.) When vestors of a “sharp increase” in email in about 700 zombie stocks in the past enough dupes buy in, the brokers sell linked to pump-and-dump scams. couple of years. nate oversight that protects in- amine Regulation A offerings. the stock and run. Still, ridding the markets of zom- vestors. Under the proposed rule State officials who have shown a While it might sound like some- bie stocks will be challenging—and Gremlins on the way change, mandated by 2012’s JOBS willingness to regulate Wall Street thing that would attract only the not just because comic books teach Yet even as the SEC declares war Act, small companies would be al- and protect the interests of unso- most gullible, pump-and-dump that it’s hard to kill the undead.Zom- on zombies, it may be about to breed lowed to raise up to $50 million phisticated investors are aghast. schemes work often enough to make bie stocks don’t trade in the daylight a new generation of market gremlins. within a 12-month period without “This is a step that puts small re- a handful of market operators rich. of an exchange—which won’t list The agency late last year intro- publishing detailed financial state- tail investors unacceptably at risk,” Last year, federal prosecutors in Los companies unless they meet stand- duced potential changes to a rule ments, up from the existing $5 mil- said William Galvin, Massachusetts’ ards for size,audited financials,num- called Regulation A that would lion limit. In addition, the proposal chief securities regulator,in a letter to LISTEN to a discussion at CrainsNewYork.com/podcasts ber of shareholders and so on—but make it easier for small companies to says state regulators would lose the the commission.“Shame on the SEC rather in the anything-goes world of raise capital but that would elimi- authority they currently have to ex- for this anti-investor proposal.” TO PLACE A CLASSIFIED AD, CALL 1-800-444-6007 OR VISIT CRAINSNEWYORK.COM PUBLIC & LEGAL NOTICES NOTICE OF FORMATION OF LIMITED NOTICE OF FORMATION OF LIMITED Notice of Formation of S.M.R.D. Notice of Formation of Just Salad NOTICE OF FORMATION OF LIMITED LIABILITY COMPANY. NAME: 11 LIABILITY COMPANY. NAME: SPIN Estate Planning Law Group, P.L.L.C. Hudson Square LLC. Arts. of Org. LIABILITY COMPANY. NAME: CARMINE TACOS LLC. Articles of GLOBAL HOLDINGS LLC. Articles of Arts. of Org. filed with NY Dept. of filed with the Secy. of State of New DOWNTOWN TACOS LLC. Articles of Organization were filed with the Organization were filed with the State on 10/25/13. Office location: NY York (SSNY) on 10/1/2013. Office loc: Organization were filed with the Secretary of State of New York Secretary of State of New York (SSNY) County. Secy. Of State designated New York County. Registered agent Secretary of State of New York (SSNY) (SSNY) on 09/23/10. Office location: on 11/26/13. Office location: New York as agent of LLC upon whom process of LLC upon whom process against on 12/27/12. Office location: New York New York County. SSNY has been County. SSNY has been designated against it may be served. Secy. Of it may be served is Just Salad LLC, County. SSNY has been designated designated as agent of the LLC upon as agent of the LLC upon whom State shall mail process to: c/o 663 Lexington Ave, 2nd Fl, New York, as agent of the LLC upon whom whom process against it may be process against it may be served. SSNY Sandra M. Rodriguez-Diaz, 375 NY 10022. SSNY shall mail copy of process against it may be served. served. SSNY shall mail a copy of shall mail a copy of process to the South End Ave., Apt. 5A, NY, NY process to the LLC, 663 Lexington SSNY shall mail a copy of process to process to the LLC, 11 Carmine LLC, c/o Andrew Gordon, 48 E. 23rd 10280, registered agent upon whom Ave, 2nd Fl, New York, NY 10022. the LLC, 11 Carmine Street, New Street, New York, New York 10014. Street, New York, New York 10010. process may be served. Purpose: Purpose: Any lawful activity. York, New York 10014. Purpose: For Purpose: For any lawful purpose. Purpose: For any lawful purpose. any lawful activity. Notice of Formation of Just Salad any lawful purpose. Notice of Formation of NYSANDY5 NOTICE OF FORMATION OF Notice of Formation of COIN 1306 First Avenue LLC. Arts. of Org. Notice of Formation of NLB 2013 LLC. NBP33 LLC. Arts. of Org. filed with CLEARVIEW ANALYTICS, LLC. VALIDATION LLC. Arts. of Org. filed filed with the Secy. of State of New Arts. of Org. filed with Secy. of State Secy. of State of NY (SSNY) on Articles of Organization filed with with Secy. of State of NY (SSNY) on York (SSNY) on 10/2/2013. Office of NY (SSNY) on 12/31/13. Office 01/21/14. Office location: NY County. Secretary of State of NY (SSNY) on 10/09/13. Office location: NY County. loc: New York County. Registered location: NY County. Princ. office of Princ. office of LLC: 60 Columbus 10/15/2013. Office location: NY County. Princ. office of LLC: One Penn Plaza, agent of LLC upon whom process LLC: 325 North End Ave., Apt. 14F, Circle, NY, NY 10023. SSNY designated SSNY designated agent upon whom NY, NY 10119. SSNY designated as against it may be served is Just NY, NY 10282. SSNY designated as as agent of LLC upon whom process process may be served and shall agent of LLC upon whom process Salad LLC, 663 Lexington Ave, 2nd agent of LLC upon whom process against it may be served. SSNY shall mail copy of process against LLC to against it may be served. SSNY shall Fl, New York, NY 10022. SSNY shall against it may be served. SSNY mail process to Corporation Service principal business address : 33 W. mail process to c/o McLaughlin & mail copy of process to the LLC, 663 shall mail process to the LLC at the Co., 80 State St., Albany, NY 12207. 89th St, Ste 2C, NY, NY 10024. Stern, LLP, 260 Madison Ave., NY, NY Lexington Ave, 2nd Fl, New York, NY addr. of its princ. office. Purpose: Purpose: Any lawful activity. Purpose: any lawful act. 10016. Purpose: Any lawful activity. 10022. Purpose: Any lawful activity. Any lawful activity. 20 | Crain’s New York Business | February 10, 2014 20140210-NEWS--0021-NAT-CCI-CN_-- 2/6/2014 5:45 PM Page 1 FOR THE RECORD GOODS AND SERVICES the Glen Oaks section of Queens. The $135.03 to $135.05, in a transaction ● Department of Citywide Administrative medical-services provider will move into worth $13,517,725. He now directly ABOUT THIS SECTION Services the space in March. The tenant was holds 158,976 shares. FOR THE RECORD is a weekly listing of information from the public record that Seeks competitive sealed bids by 10:30 represented by Todd Cooper of Ripco ● can help businesspeople in the New York area find opportunities, potential a.m. on Feb. 21 for a theatrical lighting Real Estate. The landlord, the Feil C.R. Bard Inc. (PFE) system for 52nd Street. Bid documents Organization, was represented in-house John H. Weiland, president, chief new clients and updates on competitors. can be downloaded from City Record by Nicholas Forelli. The asking rent was operating officer and director, exercised To ask questions or get more information on this section, contact Crain’s Online at http://a856-internet.nyc undisclosed. options on 81,500 shares of common research department at [email protected]. .gov/nycvendoronline/home.asp or by stock at $88.76 between Jan. 15 and Jan. contacting Vendor Relations via email at ● The Bean signed a lease for 1,800 16, in a transaction worth $7,233,533. [email protected] or square feet, including 600 square feet of During the same period, he sold 81,500 212-669-8610. To make inquiries, basement space, at 101 Bedford Ave. shares of common stock at prices NEW IN TOWN to $1 million. contact Harry Tian at (212) 386-0463 The Williamsburg spot will be the ranging from $136.00 to $136.13, in a or [email protected]. coffee shop’s fourth location, and its transaction worth $11,094,274. He now Companies that would like to have details ● 296 Schaefer & 324 Central only one outside lower Manhattan. The directly holds 139,057 shares. of openings published should submit 320 Linden St., Brooklyn ● Department of Education tenant was represented by KSR Realty. descriptions following this format to cnyb- Filed for Chapter 7 bankruptcy Seeks competitive sealed bids by 4 p.m. The landlord, Halcyon Management, ● G-III Apparel Group Ltd. (NRF) [email protected], with “New protection on Jan. 16. The filing cites on March 3 for requirements contracts was represented by Scott Heller and Morris Goldfarb, chairman and chief in Town” in the subject line. estimated liabilities of $1,000,001 to for snow removal at the Glen Oaks, Josh Singer of the Heller Organization. executive, sold 200,000 shares of $10 million and estimated assets of Queens, campus. To obtain bid The asking rent was undisclosed. common stock at $70.90 on Jan. 14, in a ● Melissa Joy Manning $1,000,001 to $10 million. documents, contact the Vendor Hotline transaction worth $14,180,160. He now 12 Wooster St., Manhattan at (718) 935-2300 or vendorhotline@ directly holds 2,390,010 shares. The jewelry designer opened a store in ● House of Clasps Inc. schools.nyc.gov.To make inquiries or STOCK TRANSACTIONS SoHo. It is the first shop for the brand. 57-22 Hewlett St., Queens obtain further information, email ● JPMorgan Chase & Co. (JPM) Filed for Chapter 7 bankruptcy [email protected]. Following are recent insider transactions at John L. Donnelly, head of human ● Nine Chains protection on Jan. 20. The filing cites New York’s largest publicly held companies resources, exercised options on 169,694 1111 Church Ave., Brooklyn estimated liabilities of $100,001 to ● Housing Authority filed with the Securities and Exchange shares of common stock at prices The bakery and café opened in Ditmas $500,000 and estimated assets of Requests proposals by 2 p.m. on Feb. 28 Commission by executives and major ranging from $31.06 to $44.29 on Jan. Park. It serves fresh bread, sandwiches $50,001 to $100,000. The creditors for a project-based voucher program. shareholders. Listings are in order of 21, in a transaction worth $6,443,352. and soup. with the largest unsecured claims are Bid documents are available for a $25 transaction value.The information was Imperial International Imports, owed fee, payable only by check or money obtained from Thomson Reuters. Matthew E. Zames, chief operating ● Raizes Churrascaria $51,986; Chase Bank, owed order made out to the New York City officer and a member of the operating 139 Nassau Ave., Brooklyn $41,226.38; and Capital One Bank, Housing Authority.To obtain bid ● MasterCard Inc. (MA) committee, exercised options on The Brazilian restaurant opened in owed $31,406.76. documents or to make inquiries, contact MasterCard Foundation sold 269,840 148,423 shares of common stock at Greenpoint. It is the first location for Meddy Ghabaee at (212) 306-4839 or shares of common stock at prices prices ranging from $19.49 to $44.29 on the company. [email protected]. ranging from $81.70 to $82.92 between Jan. 21, in a transaction worth GOVERNMENT CONTRACT Jan. 17 and Jan. 21, in a transaction $3,932,573. OPPORTUNITIES ● Human Resources Administration worth $22,210,948. It now directly COMPANY MOVES Seeks competitive sealed bids by 3 p.m. holds 120,833,000 shares. ● MSC Industrial Direct Co. (MSM) Following are selected contract on Feb. 18 for clothing for cash- Eileen McGuire, executive vice Companies that would like to have details opportunities recently announced by New assistance applicants. To make inquiries ● Time Warner Cable (TWC) president, human resources, exercised of recent moves published should submit York City agencies. To learn how to sell or to obtain bid documents, contact Glenn A. Britt, chairman and chief options on 46,814 shares of common descriptions following this format to cnyb- goods and services to city government, Donna Wilson at (929) 221-6353 or executive, exercised options on 100,100 stock at prices ranging from $38.07 to [email protected], with visit www.nyc.gov/selltonyc. For a [email protected]. shares of common stock at prices $69.46 on Jan. 16, in a transaction worth “Company Moves” in the subject line. searchable database of current procurement ranging from $34.24 to $72.05 between $2,414,100. On the same day, she sold notices, visit www.nyc.gov/cityrecord. Jan. 14 and Jan. 16, in a transaction 46,814 shares of common stock at ● By the Way Bakery Listings are alphabetical by category and REAL ESTATE DEALS worth $6,077,905. During the same $88.56, in a transaction worth 2442 Broadway, Manhattan department. period, he sold 100,100 shares of $4,145,717. She now directly holds The bakery opened on the Upper West Companies that would like to have details common stock at prices ranging from 15,340 shares. Ⅲ Side. It is the first Manhattan location CONSTRUCTION SERVICES of their recent transactions appear in these for the Westchester company, which has ● Brooklyn Bridge Park listings should email descriptions following a store in Hastings-on-Hudson. Requests proposals by noon on Feb. 25 this format to NDholakia @crains for architectural and engineering newyork.com, with “Real estate DEALS ROUNDUP ● Egg services for the BBP/Spaceworks transaction” in the subject line, or enter 109 N.Third St., Brooklyn renovation of 334 Furman St. To make them online at crainsnewyork.com/ The Southern-style restaurant relocated inquiries or to obtain bid documents, submitadeal. Deals are listed in order of TRANSACTION SIZE TARGET/SELLER (IN MILLIONS) BUYERS/INVESTORS TRANSACTION TYPE in Williamsburg. It was previously housed contact Davin Mills at (212) 661-6624 square footage. two blocks away, at 135 N. Fifth St. or [email protected]. Oriental Brewery Co./ $5,800.0 Anheuser-Busch InBev SA/NV SB M&A COMMERCIAL Kohlberg Kravis Roberts ● Le Pain Quotidien ● City University of New York ● Mashable signed a 10-year lease for & Co. (Manhattan), Affinity Equity Partners 1006 First Ave., Manhattan Requests qualifications by noon on Feb. 38,600 square feet at 114 Fifth Ave. The The bakery and restaurant opened in 25 for engineering design services tech and social-media news site will take AirWatch/Accel $1,540.0 VMware Inc. SB M&A midtown east. The Belgian chain has requirements contracts. A copy of the the entire 14th and 15th floors. The Partners, Insight Venture Partners more than 30 Manhattan locations. solicitation can be downloaded at tenant was represented by Scott Bogetti, (Manhattan) www.cuny.edu/cunybuilds and is also Chris Corrinet and Sacha Zarba of ● Oasis B2W Companhia Digital/ $988.0 Lojas Americanas SA, GCI available for in-person pickup in CBRE Group Inc. The landlord, L&L not disclosed Tiger Global Management 230 Calyer St., Brooklyn CD/DVD format at the CUNY Office Holding Co., was represented in-house (Manhattan) The falafel spot opened a second of Facilities Planning, Construction and by David Berkey and Andrew Wiener. 18 Holiday Inn hotels $581.3 Apollo Global Management SB M&A location in Greenpoint. The original Management, Procurement Services, The asking rent was in the $80s per in Germany, Spain (Manhattan) eatery is at 161 N. Seventh St. in 555 W. 57th St., 16th floor. To make square foot. and France/Ivanhoe Williamsburg. inquiries, contact Michael Feeney at Cambridge Inc. ● (646) 664-2759 or michael.feeney@ APA signed a sublease for 28,400 Solstas Lab Partners $570.0 Quest Diagnostics Inc. SB M&A ● Sushi Seki cuny.edu. square feet at 135 W. 50th St. The talent Group/Welsh Carson 208 W. 23rd St., Manhattan and literary agency will take space on the Anderson & Stowe The Asian eatery opened in Chelsea. It ● Department of Design and Construction 17th floor. The tenant was represented (Manhattan) is the second restaurant for the company, Seeks competitive sealed bids by 11 a.m. by Freddie Fackelmayer of CBRE AT&T campus in Bishop $250.0 MetLife Inc. (Manhattan), SB M&A whose original location is on the Upper on Feb. 19 for phase three of safe routes Group Inc. The sublandlord, Ranch, Calif./AT&T Inc. Sunset Development Co. Inc. East Side at 1143 First Ave. to schools in the vicinity of P.S. 18 ( John AllianceBernstein, was represented by North Valley Bancorp/ $178.9 TriCo Bancshares SB M&A G. Whitter School) in Staten Island. Scott Bogetti, Conor Denihan and Joe Fidelity Investments, Bid documents are available at Mangiacotti of CBRE Group Inc. The Wellington Management Co., BANKRUPTCIES www.nyc.gov/buildnyc for a deposit of asking rent was in the high $30s per Sandler O’Neill Asset $35, payable only by company check or square foot. Management (Manhattan), The following listings are selected from the money order. To make inquiries, contact Ulysses Management ● (Manhattan), Heartland most recent available filings by companies Melanie Sanchez at (718) 391-3430 or Real Capital Analytics signed a 10- Advisors Inc., Castine seeking bankruptcy protection in the [email protected]. year lease for 16,300 square feet at 110 Capital Management, Southern and Eastern Districts of New Fifth Ave. The real estate data provider Great Oaks Capital York. Information was obtained from U.S. ● School Construction Authority was represented by Adam Ardise and Management (Manhattan), Bankruptcy Court records available on Seeks competitive sealed bids by 10 a.m. Daniel Thompson of Cassidy Turley. Basswood Capital Public Access to Court Electronic Records. on Feb. 19 for science-lab upgrades at The landlords, Rabina Properties and Management (Manhattan), Listings are in alphabetical order. I.S. 226 in Queens. Bid documents are Samson Management, were represented JAM Equity Partners, Stieven Capital Advisors, available for a $100 fee, payable only by by Richard Bernstein and Ralph ● Wellington Hedge 11 Wyona Realty Corp. certified check or money order made out Giordano of Cassidy Turley.The asking Management 11 Wyona St., Brooklyn to the New York City School rent was $65 per square foot. Selected deals announced for the week ended Jan. 11 involving companies in metro New York. Filed for Chapter 11 bankruptcy Construction Authority.To obtain bid GCI: Growth capital investment represents new money invested in a company for a minority protection on Jan. 21. The filing cites documents or to make inquiries, contact RETAIL stake. SB M&A: Strategic buyer M&A represents a minority or majority acquisition of existing estimated liabilities of $500,001 to $1 Lily Persaud at (718) 752-5852 or ● ProHealth signed a lease for 11,000 shares of a company without the participation of a financial buyer. source: capitaliq million and estimated assets of $500,001 [email protected]. square feet at 259-27 Union Turnpike in February 10, 2014 | Crain’s New York Business | 21 LICH loss swamps SUNY Continued from Page 1 long-term debt—a key step that One year later,a merger deal be- nal round of bidding Feb. 3 in a made the Cobble Hill hospital, tween Downstate and LICH took sales process that began last sum- then owned by Continuum the hospital off the hands of Con- mer.Three of the four bidders now Health Partners, a more attractive tinuum Health Partners—a trans- being considered by SUNY pro- merger partner for SUNY Down- action paid for with the promise of posed to turn the hospital into a state. state funds eventually totaling mix of condos and medical offices, “There were two people who about $330 million over three but none offered to preserve a full- wanted SUNY to buy LICH.Gov- years. service hospital,a demand that op- ernor Paterson was one,” said Mr. After Mr. Paterson left office, ponents of the closure have made a McCall. “It meant a lot of union Gov. Andrew Cuomo stepped in condition for settling their law- jobs wouldn’t be lost, and so he to save the hospital.Two years ago suits. agreed that the state would put up this week, Continuum issued a With other hospitals in Brook- the money to pay for it.” statement thanking Mr. Cuomo, lyn struggling, most notably Inter- The other was then-SUNY then-Public Advocate Bill de Bla- faith Medical Center,the long,tor- Downstate President John sio, local representatives and the tured bailout of LICH offers a LaRosa, who believed he needed health care union 1199 SEIU lesson on the pitfalls of restructur- another teaching hospital for United Healthcare Workers East, ing a failing health care facility training his medical-school whose lawyers include Basil through political means rather graduates. Paterson, the former governor’s than the well-worn path of bank- “Whose fault was it? It was the father. ap images ruptcy proceedings. fault of LaRosa,” said Stephen Politics prolonged LICH’s life, According to SUNY officials, or rather drew out its death. Its fi- LICH, a small community hospi- nancial struggles continued under LONG HISTORY, COSTLY DEMISE tal with about 1,400 employees, SUNY, yet as a state entity, LICH Long Island College Hospital’s struggles has accrued about $500 million in could not be brought under the liabilities—and has lost more than protection of bankruptcy proceed- 1858: Founded as a medical school and hospital, and $100 million since July,when then- ings. So while the earlier closures two years later becomes first U.S. hospital to mayoral candidate Bill de Blasio,in of bankrupt St. Vincent’s Hospital use stethoscopes and anesthesia. a bit of political theater, got arrest- and North General Hospital were ed for protesting the hospital’s at- hashed out between creditors and 1930: Long Island College of Medicine is tempted closure. management, the orderly proce- incorporated as a separate medical school and But even a sale, which could dures of bankruptcy were not an becomes part of SUNY in 1954. LICH becomes its hospital affiliate. reap $280 million, would only par- option for LICH. 1988: Berkshire Hathaway investors Donald and tially recoup SUNY’s losses. The Mildred Othmer (left) create an endowment for LICH university system will likely be left Investigations urged in their wills valued at $135 million after they die in with a deficit of more than $200 That left politicians,communi- 1995 and 1998, respectively. million that state officials say could ty groups and the powerful unions require the university to hike tu- that represent hospital staff—the 1994: LICH’s first year of operating losses. It would ition and could put SUNY’s flag- New York State Nurses Associa- bleed money for the next 20 years. ship medical facility, University tion and 1199 SEIU—to stake a 1998: Continuum Health Partners (now part of Hospital of Brooklyn, in jeopardy. ap images claim. They believe their efforts Mount Sinai Health System) takes over LICH. Mr. McCall also said the cost of will pay off,despite the hundreds of wikipedia 2000: Continuum seeks and later receives court permission to borrow against complying with a court order to ‘Everyone is millions of dollars spent to keep keep LICH open has led to layoffs. open a failing hospital. the Othmer endowment to pay for short-term expenses. “What really concerns me, every- concerned about “Just as Mayor de Blasio fought October 2010: Gov. David Paterson’s administration backs a one is concerned about LICH, but hard outside City Hall to prevent deal for SUNY to buy LICH with state money intended to no one is talking about the 500 em- LICH, but no one is the heedless closure of LICH, he’s restructure failing hospitals. LICH’s occupancy rate: 45.2%. ployees at University Hospital that fighting every day now to reach a talking about the February 2011: Continuum says it will put LICH into Downstate has had to lay off,” Mr. solution that protects this commu- bankruptcy if a deal to sell it to SUNY Downstate Medical McCall said. nity’s health care,” a de Blasio 500 employees at Center is not finalized. The Cuomo administration smooths the The harm to SUNY’s reputa- spokeswoman said.“We won’t stop bloomberg news tion for the ill-fated acquisition University Hospital working until we get the outcome way for the merger. Continuum publicly thanks Brooklyn pols David Paterson has also caused concern among its we’ve been fighting for all these and health care union 1199 for making it happen. Courts later backers. Opponents of the hospi- that Downstate has months.” approve Continuum’s request to use the Othmer endowment to pay off debts. tal’s closure have lambasted had to lay off’ What remedies—if any—the May 2011: SUNY Downstate takes over LICH, including hundreds of millions of SUNY’s trustees—led by Mr.Mc- public could take to recoup dollars in hospital debt. Call, a former state comptroller— SUNY’s losses is unclear. Brook- —H. Carl McCall November 2011: The Medicaid Redesign Team’s Brooklyn Work Group, led by and dragged them into court on lyn Borough President Eric criminal-contempt charges. Tues- Adams suggested that New York banker Stephen Berger, recommends consolidating LICH’s inpatient services. day’s hearing on that issue is being State Comptroller Thomas Di- June 2012: LICH worsens SUNY Downstate’s balance sheet. The first six months used as a cudgel to wrest conces- Napoli’s office, which audited of the year show an operating loss of $113.5 million. sions from the four bidders look- SUNY Downstate in 2013, inves- January 2013: The marriage between LICH and SUNY proves a loser. State tigate SUNY’s decision to buy ing to buy the campus and redevel- comptroller’s audit says Downstate is weeks away from insolvency. op it. LICH, as well as how a $135 mil- lion endowment was drained by Feb. 8, 2013: SUNY trustees vote to close LICH. Monthly losses: $4 million. Political interference Berger, a private-equity investor Continuum. Feb. 20, 2013: Nurses’ unions and doctors win a court fight when a judge orders LICH’s history is complex, who chaired a panel that recom- “I believe there was a great deal LICH to stay open. made more so by political maneu- mended LICH consolidate. “He of information that was held back,” vering and election-year histrion- was an egomaniac. SUNY runs Mr. Adams said. “I don’t know if July 2013: Mayoral candidate Bill de ics. In October 2009, then-Gov. colleges and graduate schools and there was inflating of the books. Blasio is arrested protesting LICH’s David Paterson, contemplating medical schools.They shouldn’t be The year when they wanted to closure. “We’re going to fight to make sure whether to run for a full term, an- running hospitals.” Neither Dr. push the idea of absorbing LICH, Long Island College Hospital stays open nounced the state was giving $22 LaRosa nor Mr. Paterson returned there was great income. Now it’s and every hospital stays open,” Mr. de million to LICH to pay off some a call for comment. clear something was off.” Ⅲ Blasio says. With few patients, LICH is now losing $15 million a month. ap images October 2013: State Judge Johnny Lee Baynes, a former lawyer for municipal NOTICE TO READERS CLARIFICATION AND CORRECTIONS union DC 37, rules again that SUNY cannot close LICH. Crain’s New York Business and the John Martello, former executive director of the Players Club, said that he did not fill the nonprofit’s board with his friends and that the directors knew exactly how he was managing the November 2013: Mr. de Blasio is elected mayor. New York offices of parent institution. That was not made clear in the Feb. 3 “High drama.” December 2013: SUNY picks a plan to redevelop LICH into a medical mall and company Crain Communications Rising prices of helium caused net sales of “domestic metallic balloons” to fall by $4.4 million condos, but, facing protests, SUNY board of trustees Chairman H. Carl McCall are moving at the end of this week. during the first nine months of 2013. That figure was misstated in the Jan. 27 In the Markets. immediately puts the idea on hold. The Millennium Broadway Hotel is the 18th-largest hotel in the city. That fact was misstated in Our new address as of Feb. 17 is: the Jan. 27 list of New York’s largest hotels. Feb. 3, 2014: Deadline for revised bids to redevelop LICH. Five proposals are 685 Third Ave. E-commerce firm Bonobos does not offer tuition reimbursement. This information was misstated received, including a joint plan by Brooklyn Hospital Center and the Related Cos., New York, NY 10017-4024 in the Dec. 9 Best Places to Work list, on which Bonobos ranked No. 57. and one by NYU Langone and Fortis. 22 | Crain’s New York Business | February 10, 2014 BUSINESS DINING & VENUES 2014: The Year of Sports and Corporate Events Sporting events are a great Super Bowl XLVIII (February 2 Get into the Olympic – way to make corporate in East Rutherford, NJ) and Russian – spirit at these happenings more social Though no local gridiron teams NYC Venues made it into the Super Bowl Plan an experience to Pull up a bar stool – this year, the Broncos, victorious remember at The Russian it’s time to talk sports. 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That creates a dynamic—one frowned upon by good- Ms. Mark-Viverito and other as- continued to do just fine when Giu- vehicle,” said Mr. Del Giorno, a for- government groups—whereby firms lobby the same candidates that they cendant power brokers will often liani was mayor,” said Mr. Davidoff, mer longtime city Board of Elections helped to elect. determine who gets business. whose firm was ranked 10th in 2012 official. “There isn’t any.” In the case of Melissa Mark-Viverito’s winning bid to be City Council “I wish I could say getting clients with $1.6 million in city lobbying Since Ms. Mark-Viverito be- speaker, Pitta Bishop Del Giorno & Giblin was lobbying her at the same time was really about the right strategy,or revenue. “It’s not access to power came speaker in January, Mr. Del that it was guiding her campaign, according to the firm’s disclosure forms. knowledge, or having the right that matters. It’s the expertise to Giorno has continued to play a role Late last year, for instance, as the speaker race was heating up, the firm team,”said one top practitioner.“But navigate through government.” for her, setting up an “appointments and labor leader Harry Nespoli met with Ms. Mark-Viverito to discuss a lot of it is the perception of your re- committee”to vet applicants for City “numerous city matters including recycling, contracts [and] outsourcing,” the lationships with elected officials.” Thriving relationships Council staff positions, according to records show. Mr. Nespoli is president of the Uniformed Sanitationmen’s Others in the industry agreed. A reputation for closeness to de- multiple sources. But he insists the Association and head of the Municipal Labor Committee, the umbrella group “Anytime a story is written saying a cision makers can be detrimental firm will not get any special favors for the city’s public-sector unions. lobbyist is close to a politician, they because of the bad press it brings, from the speaker. “You know Melis- A Pitta Bishop spokesman said the meeting was timed with the advent of raise their rates,” said Ken Fisher, a Mr. Davidoff insisted. Most of the sa, her personality—she’s very inde- winter, primarily to register Mr. Nespoli’s request that private plowers hired lobbyist at Cozen O’Connor and a bigger, established lobbying firms pendent,and she’s very careful about by the city to clear tertiary and dead-end streets be replaced by his former councilman. have such broad relationships that conflicts,” said Mr. Del Giorno. Pit- union’s workers. After the 12-year reign of May- they thrive regardless of who is ta Bishop also has a good reputation Pitta Bishop also reported lobbying Ms. Mark-Viverito’s office and a or Michael Bloomberg—who never elected. Still, Mr. Davidoff ac- among many political insiders. number of other Manhattan lawmakers late last year for its client East Side had to raise a cent for his cam- knowledges that links to lawmakers Another operative on the win- Alliance Against Overdevelopment, a new group fighting the planned CUNY paigns—lobbyists expect to have can be helpful in landing clients— ning side of last year’s elections, Hunter/Memorial Sloan-Kettering medical complex on the Upper East Side. more input in the de Blasio admin- and in getting calls to elected offi- Scott Levenson, president of the The firm lobbied Joseph Taranto, the councilwoman’s then-deputy chief of istration, which has promised to be cials returned. Advance Group, is close to Ms. staff, to delay a Manhattan borough board vote in late November to approve more inclusive. That could make Another big winner of 2013 Mark-Viverito and also curried fa- the project, according to lobbying records. The vote went forward. their services more valuable. made a similar argument. Jon Del vor with the de Blasio camp by or- “Bloomberg did a lot of stuff in a Giorno, sitting in his firm’s 28th- ganizing a $1 million campaign that Asked about lobbying the new speaker in general, firm partner Jon Del vacuum—he was isolated. I think floor conference room a few blocks helped sink the mayoral bid of for- Giorno did not acknowledge that his role in her political ascent makes his Bill de Blasio will listen to people, from City Hall,downplayed the no- mer Council Speaker Christine lobbying of her more persuasive. “You give her the data, the arguments,” Mr. whether it’s lobbyists or anyone else,” tion that his closeness with Ms. Quinn. Since then, new clients have Del Giorno said. “The client has to prove its worth.” —CHRIS BRAGG said Sid Davidoff, a longtime lobby- Mark-Viverito (see sidebar) will come calling: For instance, lobbying help his firm, Pitta Bishop Del records show that last fall, Pledge 2 Giorno & Giblin, which has hov- Protect, a well-funded group trying paign.The firm earned $3.3 million Councilman Brad Lander. ‘It’s not access ered near the bottom of, or just out to persuade Mr. de Blasio to cancel a in fees from city lobbying in 2012. One well-known lobbyist and of, the top-10 list. waste-transfer station project on the Michael Woloz,of the firm Con- active supporter of Ms. Quinn was to power that “I really don’t think there’s a dif- Upper East Side, retained Advance. nelly McLaughlin & Woloz, who Emily Giske of Bolton-St. John’s, ference,” he said, rattling off a long But the firm has also been the represents the taxi industry,bundled the city’s fourth-ranked lobbying matters,’ one list of elected officials, unions, busi- subject of negative stories about its nearly $235,000 in campaign con- firm in 2012 with $2.4 million in ness interests and nonprofits repre- whirlwind of activity during the tributions for Mr. de Blasio, more fees. Still, industry veterans don’t lobbyist claims sented by the firm. “We’ve been 2013 races, triggering an investiga- than double anyone else’s haul. And expect major firms on the losing side steady in our relationships.” tion of possible campaign-finance Luis Miranda of the MirRam of the 2013 races to take up collec- Pitta Bishop has done Ms. infractions. Ms. Mark-Viverito an- Group enjoys a close relationship tion plates just yet. The top tier still Mark-Viverito’s election-law com- nounced during the speaker race that with Ms. Mark-Viverito. has scores of important clients pliance since 2005,and last year Mr. she would stop taking free advice Meanwhile, firms close to the whom power brokers must heed. ist at Davidoff Hutcher and Citron. Del Giorno quarterbacked her up- from the firm, though her relation- Queens Democratic Party—such as Moreover, city government has One oddity of the lobbyists’world hill speaker bid. In a clever and un- ship with Mr. Levenson is said to be the ninth-ranked Parkside Group, fundamentally changed over the is that those who benefit most from precedented move, the firm set up a intact.“Hiring them right now is the which runs the campaigns of many years, according to veteran consult- the impression that they have allies in 2017 campaign account for an un- ultimate double-edged sword,” said Queens-backed candidates and ant and lobbyist Hank Sheinkopf,to high places publicly insist it doesn’t specified office with the state Board one labor official, referring to the earned $1.7 million from city lobby- the point where even the best- help them influence government. of Elections, which allowed Ms. firm’s successes and controversies. ing in 2012—could find the speak- connected lobbyists still must make Among them is Mr.Davidoff,an ear- Mark-Viverito to raise $100,000 er’s office less friendly than when it strong cases to persuade close allies. ly de Blasio backer and longtime and hire a full staff for her run, de- Other beneficiaries was ruled by Ms. Quinn, who owed “Winning gives you bragging friend whom insiders view as one of spite needing just 26 votes from Others poised to prosper in the her position in large part to Queens rights—and new clients that still the big winners of the 2013 elections. council colleagues to win. wake of the mayoral and speaker Democrats. Last year was the first believe the fix is in. But that’s not That dynamic can cut both ways, More than $21,000 of the mon- elections include BerlinRosen,a lib- time a speaker race was decided how things work anymore,”said Mr. he said. Mr. Davidoff was a regular ey reportedly came from Pitta eral shop that helped run Mr. de without the organization supplying Sheinkopf,whose close relationship tennis partner and close adviser of Bishop’s long roster of business and Blasio’s campaign, although the votes, and spoils of victory—key with Assembly Speaker Sheldon then-Mayor David Dinkins in the labor clients, and gave Ms. Mark- public-relations firm does not di- staff positions and committee chair- Silver drew scrutiny several years early 1990s, when his firm topped Viverito an edge over her rivals. rectly lobby lawmakers and does not manships—mostly went elsewhere. ago amid a racino bidding probe. the closely watched annual rankings Common Cause New York said the publicly disclose its activities. Parkside also ran a controversial “Does it help to have those relation- of the highest-earning city lobbying new speaker was “exploiting” the Another early backer of Mr. de $8 million campaign funded by the ships? The answer is yes. But you shops. That was used against Mr. state’s lax campaign-finance system. Blasio was James Capalino, of the real estate industry last year target- still have to convince people on the Dinkins during his failed 1993 re- But the move was entirely legal second-ranked firm Capalino + Co., ing City Council races.The negativ- merits.” Ⅲ election bid. and vetted by the city’s Campaign Fi- whose senior vice president, George ity of some of its mailers rankled of- “I was viciously attacked by Rudy nance Board, Mr. Del Giorno said. Fontas, did extensive volunteer field ficials who have since emerged as LISTEN to a discussion at Giuliani’s campaign for being close “If there was [another] mechanism to organizing for the de Blasio cam- power brokers, such as Brooklyn CrainsNewYork.com/podcasts wardness of taking a top post in the fight against inequality.“It’s going to Mayor’s planning czar is old hand administration after having led the be a very different approach at City transition process. Planning,” he vowed. “I always aspire to be Nat Leven- Mr. Weisbrod has extensive ex- roles in city government, Mr. in Washington, D.C., but thal and not Dick Cheney,” he said, perience in city government, a qual- De Blasio taps his de Blasio said the chairman’s chose Mr.Weisbrod after Ms. referring to headhunters for Michael ity that Mr. de Blasio favors. He is transition co-chair focus would be using the Tregoning took a post at the Bloomberg and George W. Bush, re- widely hailed for his work on Times powers of the Department of U.S. Department of Housing spectively, “so I’m a little surprised to Square, starting in the late 1970s for key city post City Planning, which he will and Urban Development. see myself up here.” Mr. Cheney led and continuing through the 1990s run,to address the problem of Leading up to the an- the search for Mr. Bush’s running as founding president of the city’s BY ANDREW J. HAWKINS affordability in New York. nouncement, insiders specu- mate in 2000 and ultimately was of- Economic Development Corp. un- Carl Weisbrod “He rose to become a man lated that Mr.Weisbrod,who fered the post himself,while Mr.Lev- der Mayor David Dinkins. Mayor Bill de Blasio last week named [whom] many different has amassed a small fortune enthal stayed behind the scenes as He was also executive director of Carl Weisbrod, the plugged-in real mayors and governors turned to, to as a partner at HR&A Advisors, Mr. Bloomberg’s chief talent scout. the Department of City Planning estate consultant and co-chair of his revitalize neighborhoods and move would prefer to remain outside city Mr.de Blasio also expanded on his and helped found the Alliance for transition team,as the new chairman forward our city and economy,” Mr. government. And at City Hall on outlook for development projects, Downtown New York. For six years of the city’s Planning Commission. de Blasio said. Friday, Mr. Weisbrod acknowl- noting that his planning agency prior to 2011, Mr. Weisbrod was Citing Mr. Weisbrod’s role in The mayor had considered bring- edged that he wrestled with Mr. de would deviate significantly from Mr. president of the real estate division helping revitalize Times Square and ing in an outsider such as Harriet Blasio’s offer before accepting. Bloomberg’s by prioritizing the cre- of Trinity Church, where he man- lower Manhattan in his previous Tregoning, the director of planning He also joked about the awk- ation of affordable housing and the aged a huge property portfolio. Ⅲ 24 | Crain’s New York Business | February 10, 2014 20140210-NEWS--0025-NAT-CCI-CN_-- 2/6/2014 6:24 PM Page 1 HELLUVA TOWN INSIDE Source Lunch How Matchmaker’s much is that meal in feminine side Bitcoins? PAGE 26 Single women seeking a Out and About Valentine’s Day mate have a new yenta. Janis Spindel Serious Strausses galore Matchmaking Inc. has expanded its PAGE 27 practice to females. Founder Janis Spindel (below, left) has been helping men find their better halves since 1993, charging a steep $50,000 to make a match. She added gay men in 2011. But women have been off her list since 1999. “I stopped taking on women as clients because they are not realistic,” said A ROCK AT ROCK Ms. Spindel, who recently brought CENTER: Matias her daughter Carly (right) into the Ferreiro proposes to fold. “Carly has more patience Maria Jose Marquez. than I do.”The junior Spindel charges $12,500 to $25,000, and has so far earned $125,000 on nine clients. “When I was 12, I used to go to my katya productions katya mother’s parties and check everyone in,” said Carly, 28, who is now vice president of the firm. With annual earnings between $5 million and $7 million, the company plans to expand to the European market when the time seems right, Ms. Spindel said. —lisa ferber Le Perigord’s cream of the crop No fooling: Le Perigord turns 50 on April 1, and the grande dame restaurant will be celebrating its vaunted age by strutting out a menu from its youth. For the rest of the year, starting in mid- March, owner and founder Georges Briguet will be offering a $78 five-course menu of dishes he describes as “forgotten.” “The younger generation who come now were never exposed to that food, so it should be very exciting to them,” said Mr. Briguet, 76. Many of the dishes were taken off the menu over the years because cream is a main ingredient, such as Billi-Bi Engagement rink (creamy mussel soup), a cup of which will be served between the appetizer course and the entrée on the special menu. Rockefeller Center attraction cashes in as a romantic Other dishes that will be making a comeback at Le venue to pop the question Perigord include a watercress and endive salad with red beets, foie buck ennis gras with Fine de Champagne cognac and a fish mousse. After a few weeks, we’ll see how BY LISA FICKENSCHER the public enjoys the menu, and we’ll keep it exciting,” said Mr. aria Jose Marquez had no idea when she arrived in New York City ON ICE Briguet, whose son Christopher is with her boyfriend in late January from Buenos Aires that she would manager of the restaurant. “We have other retired dishes that we’ll leave the Big Apple a week later with an elegant diamond ring on her be bringing back.” finger. ¶ The couple were enjoying a brisk Friday-evening skate at the Le Perigord will continue to Rink at Rockefeller Center when suddenly they found themselves $1,000 offer its regular $68 three-course PRICE OF TOP menu. alone on the ice and their favorite song was piped into the sound PROPOSAL PACKAGE —lisa fickenscher system. ¶ “I said, ‘Baby, this is our song,’ ” said Ms. Marquez. “I offered by the Rockefeller thought, ‘This is a romantic moment.’ ” ¶ It would only get better. Her Center skating rink boyfriend, Matias Ferreiro, dropped to one knee, deftly holding up a tiny box, and asked her to marry him. As a gaggle of tourists watching the scene unfold cheered loudly, the couple embraced. M¶ Afterward, the pair nestled into a booth at Rock Center Café to enjoy two glasses of 178 Champagne, which was included in the $350 proposal package Mr. Ferreiro had booked online a NUMBER OF ALL PROPOSAL PACKAGES it few weeks earlier. ¶ An hour later, a young couple from Los Angeles laced up, skated and got booked from mid-October engaged. ¶ It turns out that marriage proposals are big business at the rink. See ENGAGEMENT on Page 26 to Feb. 4 courtesy of le perigord courtesy of February 10, 2014 | Crain’s New York Business | 25 20140210-NEWS--0026-NAT-CCI-CN_-- 2/6/2014 5:47 PM Page 1 SOURCE and the privilege of riding the ele- vator to the observation deck with- LUNCH: out others onboard. MARCO SANTORI Engagement rink studio beyda david Ultimate USA Weddings also sells packages at Central Park for by Ken Christensen Continued from Page 25 dience. Last year, it upped its game about $600, which includes a per- With Valentine’s Day coming Fri- as well, launching an online reser- mit,a photographer,and musicians day, at least five more couples will vation system and several proposal and drinks at the Plaza Hotel. become affianced—provided, of packages, which are generally less The Rockefeller Center skating course, that the proposees agree. expensive than some other popular rink was a relative bargain for many The other side The rink is among the top 10 places alternatives. years, when it charged about $200 in the city to get engaged, accord- The Top of the Rock observa- for five minutes of solitary ice time, ing to event planners, and one of tion deck,for example,costs $1,500 including music. of the Bitcoin the few landmarks in New York to secure 20 minutes of solitude for “We were selling out so easily,” catering to engagements rather said Carol Olsen, who has been the than weddings—though the cold director of the rink for the past 25 snap in late January did test some ‘I told her years. or many,Bitcoin, the vir- but it’s not clear. couples’ nerves. In 2013, the rink introduced tual currency,conjures up there were three packages—silver, gold and images of phony money What’s at stake in New York? On stage platinum—for $350, $500 and and the Internet’s illicit Innovation. My concern is that the David Jaime, who got engaged going to be $1,000, respectively. The top deal corners. For Marco San- license will be technology-specific, shortly after the Argentines, said it fireworks’ includes a bottle of Champagne, a Ftori, it’s a legitimate job. and the industry will quickly out- was so cold that he and his girl- five-course dinner at the Sea Grill Mr. Santori, counsel at Nesenoff grow it. New York City is really the friend sat indoors, where they had at a table overlooking the rink, a & Miltenberg, a small law firm in hub of digital currency. I would say rented their skates, for part of the dozen roses and a leather-bound midtown Manhattan, consults for the most digital-currency activity is time. He had to coax his girlfriend, book for photos of the couple’s digital-currency companies. He also right here—some in Brooklyn, most Nicole Lopez, outdoors again for moment. doubles as chairman of regulatory af- in Manhattan. It has very quickly the last 10 minutes of the session, From Oct. 11, when it opened fairs at the Bitcoin Foundation, a displaced Silicon Valley. The proto- when the rink would be emptied either a wedding ceremony or a for the season, through Feb. 4, the nonprofit that aims to promote the typical digital-currency company is for them.“She wanted to leave, so I proposal, said Gino Filippone, rink booked 178 packages, gener- use of Bitcoins.On Twitter,he’s been an exchange.It takes your dollars and told her there were going to be fire- president of Ultimate USA Wed- ating more than $71,000 in sales. half-jokingly dubbed @Father- sends you Bitcoins, for example. My works,” he said. dings, which arranges such events It’s operated by the Patina Restau- Bitcoin, a nickname he inherited law firm uses a payment processor— For couples who enjoy sharing on behalf of the landmarked build- rant Group, which owns the Sea while giving Bitcoin talks to “eager” another kind of these businesses—to their big moment with strangers, ing at Rockefeller Center. The fee Grill,the Rock Center Café and 16 businesspeople in China last year. accept Bitcoin from our clients. the rink provides a stage and an au- includes a photographer, flowers other restaurants in the city. Late last month, as a single Bit- There is also a lot of VC money be- The couples hail from all over coin traded for more than $800, the ing invested [in these companies]. the world, and the vast majority state’s superintendent of financial leave the ice engaged—but not services, Benjamin Lawsky,said that Could increased regulation encourage everyone, said Ms. Olsen. New York will issue new regulations wider use of Bitcoin by giving some sense “There have been a few inci- to increase oversight of the types of of security to consumers? dents where the couple doesn’t look companies Mr. Santori Adherence with regulations so happy,”she said,adding that this advises. WHERE does lend credibility to a year “there was one where the THEY business in the eyes of con- woman pushed the man’s hand What was the significance of sumers. When Silk Road, away from her. It wasn’t very grace- the Department of Financial DINED an online drug bazaar, was ful or kind.” Services hearing on Bitcoin THE BRESLIN shut down last year, the Most, however, are delighted, and digital currencies? Ace Hotel price of Bitcoin skyrocket- New York like the 26-year-old Ms. Marquez, This is the first time a state 16 W. 29th St. ed.The market spoke. who traveled to New York with her has joined the conversa- (212) 679-1939 future in-laws. They were among tion that has taken place www.thebreslin How did you become a digital- the cheering crowd. for a long time now at the .com currency lawyer? Mr.Ferreiro,an engineer,settled federal level. They should AMBIENCE: If you talked to me two on the rink because the couple had be commended for it, and Spacious yet years ago, I would have dimly lit been in Manhattan six years before they should absolutely gastropub with said, “What’s Bitcoin?” and had skated there.“It was already have a seat at the table. high ceilings and Lawyers are very slow to a special place for us,” he said. pig statuettes for change and adopt new aaron almendral aaron ENGAGING PLACE: Neyner Leon and Tobias von Rohr in Central Park. Mr. Lawsky said he will issue decor technologies and new in- Ring panic “BitLicenses” in 2014 to WHAT THEY ATE: dustries. But I’ve always Not so for Brad Croasdale of regulate Bitcoin-related Ⅲ Beer-battered been a computer geek, and San Diego, whose fiancée could companies in the state. fluke and chips once I learned about it and PARK IT HERE with tartar sauce barely skate. “She clung to the What’s your response? the technology behind it, I Ⅲ Oven-baked AMONG THE TOP PLACES for marriage proposals in the city is Central Park, wall,” he said of their late-January Before the hearing, the three-cheese was blown away. There which offers nearly two dozen popular locations, according to the Parks visit, a business trip that he extend- first question DFS asked sandwich with weren’t really that many Department. ed into a short vacation. He suf- was “Do we need to create house-made people doing it, so I start- Last year, the agency issued 1,019 permits for people who were either fered a slight injury—a bruised a BitLicense?” So it struck ham, Diet Coke ed. My practice is now getting married or proposing in the park—the city doesn’t track the requests knee—as he knelt on the ice and his me as odd that the very PRICE: largely counseling digital- rear leg slid out from under him. first thing Ben Lawsky $60, or 0.07 currency companies. separately—and it requires a permit only for gatherings of 20 or more Bitcoins, people. Some event planners and couples, however, acquire permits even if Staying up on the ice was not a said at the hearing was he including tip they don’t exceed the 20-person quota. problem for Mr. Jaime and his girl- has decided to issue new So you use Bitcoin? “We get the permit regardless,” said Gino Filippone, president of friend, but his stress began when regulations.Those of us who submit- I bought a humidifier and a heater Ultimate USA Weddings. “There are so many film students in the city. the photographer he’d hired to cap- ted testimony wondered why we last week. So tell all your readers that Everyone thinks they are a Fellini, so we just cover our bases by securing ture the moment canceled the spent so much time trying to help Bitcoin will fight the polar vortex. the location.” morning of their special day. answer that question. The top five romantic spots in the park, according to the requests for “I found a replacement by put- Do you plan to convert all of your dollars Do you think that some form of to Bitcoins? permits, are the Ladies Pavilion, Cherry Hill/Wagner Cove, Belvedere Castle ting an ad on Craigslist,” he said, regulation is needed? Plaza, the Shakespeare Garden and the Bethesda Fountain Terrace. Of “but she [his intended] was getting I have a lot riding on Bitcoin profes- course, warm-weather months are the most popular. annoyed with me because I was Digital-currency businesses are al- sionally. I think converting all my constantly on my phone.” ready regulated at the federal level dollars to Bitcoins would be the op- Ultimate USA Weddings says its clients’ No. 1 choice for proposals is Most aspiring grooms have at like money transmitters, such as posite of diversification. romantic hotel suites, but horse-drawn carriages, private yachts, helicopter least one panic attack at the rink, MoneyGram and Western Union. tours and even the Brooklyn Bridge are popular, too. thinking that they’ve lost the ring, At the state level, they might also be How many Bitcoins do you own? Proposals, of course, lead to nuptials. Lately, people have been said Ms. Olsen. regulated like money transmitters, How many dollars do you own? Ⅲ discovering Times Square, where Ultimate USA Weddings last year “We’ll see them get down on arranged for five weddings at Duffy Square. It has already fielded 20 their hands and knees and examine inquiries for this year. the ice or pat their pockets multiple INSIDE TIP: If upscale pub grub isn’t your But don’t expect Europeans to be drawn to the Crossroads of the World times,” she said. Ⅲ for a wedding or proposal, said Mr. Filippone. “All of my customers have thing, the Ace has an oyster bar, a Subway been Americans from Nashville or Texas.” —LISA FICKENSCHER LISTEN to a discussion at CrainsNewYork.com/podcasts sandwich restaurant and a coffee shop. 26 | Crain’s New York Business | February 1o, 2014 OUT AND SNAPS Audubon Society feathers nest with $1.5 million ABOUT by Ali Elkin and Nazish Dholakia CULTURE FIX CAREER BUILDER WEDNESDAY, MONDAY, FEBRUARY 10 FEBRUARY 12, Attend a HIGH-SPEED NETWORKING THROUGH SUNDAY, event at Public House, 140 E. 41st St., APRIL 20 between Lexington Avenue and Third The New Museum Avenue, from 6 p.m. to 8 p.m. It is will feature the first hosted by Networking for U.S. exhibition of Professionals and is open to the work of Polish professionals from different fields. artist Pawel Members of the organization can Althamer, known jens ziehe berlin register for $20, and nonmembers for for sculptures of himself and his family. $30. The cost is $35 at the door. The exhibit, THE NEIGHBORS, will have Registration is available online at diane bondareff an interactive aspect, including drawings www.networkingforprofessionals agency farrell billy BEN AARON and GINGER ZEE attend the from museum visitors. The New .com. STEPHANIE CLARK, EMILY ISRAEL PLUHAR, DEBRA DEL VECCHIO, CLAUDIO DEL VECCHIO National Audubon Society’s Second Annual Gala Museum is open Wednesday through and COURTNEY BOOTH at Young Collectors Night at the Winter Antiques Show. The Jan. 30 Dinner on Jan. 27. The gala raised $1.5 million Sunday at 235 Bowery. For more TUESDAY, FEBRUARY 11 event raised $100,000 for the East Side House Settlement’s college preparation programs. for the society. information, visit www.newmuseum.org. The inaugural LANDLORDSNY PROPERTY MANAGEMENT SYMPOSIUM will be held TUESDAY, FEBRUARY 11, at Brooklyn’s Barclays Center. THROUGH SUNDAY, NOVEMBER 23 Landlords will have the opportunity to ROCKY: THE MUSICAL starts previews this hear from Barclays developer Bruce week. The production is directed by Alex Ratner on property management. Timbers of Peter and the Starcatcher, with Registration costs $200 and is available music by Lynn Ahrens and Stephen online at https://symposium.landlords Flaherty of Ragtime. Tickets are on sale ny.com. The event is open to through November, with the official LandlordsNY members only. It will opening in March. The show is at the run from 8 a.m. until 12:30 p.m. and Winter Garden Theatre at 1634 will be held in the arena’s Calvin Klein Broadway. For more information, visit Courtside Club and on the Brooklyn www.rockybroadway.com. Nets’ practice court. DON’T MISS A PLETHORA OF STRAUSSES janet charlesjanet SUNDAY, FEBRUARY 9 MARCIE and JORDAN PANTZER at the fourth annual Plates for The Orchestra of St. Pediatrics benefit for the Komansky Center for Children’s Health peart gerald Luke’s will present at New York-Presbyterian/Weill Cornell. The Jan. 30 fete took in a CHARLES RANGEL and DION CLARKE at the Jan. 30 Harlem Fine Arts Show STRAUSS & STRAUSS,a record $650,000 to help support a number of children’s gala, benefiting the Harlem School of the Arts. The NFL Players Association concert comparing and programs. announced a $10,000 contribution to the school. contrasting the music of Richard Strauss and the father-and-son waltz-king See more of this week’s Snaps online at CrainsNewYork.com/galleries. team of Johann Strauss I and Johann Strauss II by playing works from each. orchestra of st. luke’s The performance begins at 2 p.m. at the Brooklyn Museum’s Cantor Auditorium. Tickets start at $10 and go up to $38, and are available at www.oslmusic.org. The Brooklyn Museum is at 200 Eastern Parkway. OPENING FUNDRAISERS THURSDAY, FEBRUARY 13, WEDNESDAY, FEBRUARY 12 THROUGH SATURDAY, StreetWise Partners will host STREETWISE MARCH 15 SPEAKEASY, a casino event and poker tournament The DC Moore Gallery will to benefit the organization, which delivers show JANET FISH: PANOPLY, professional development services to low-income which includes works from individuals. It runs from 7 p.m. until midnight about 20 and includes cocktails, raffles, casino games and years of poker tables. Tickets start at $295, and a 10- the player poker table is $3,500. The event will be artist’s held at the Dream Downtown hotel, 355 W. 16th career. St. For more information, visit www.streetwise The speakeasy.org. paintings are THURSDAY, FEBRUARY 13 highly The Set NYC will host a FASHION WEEK BENEFIT colorful to raise funds for Love146.org, which addresses and child trafficking through survivor care, janet fish janet detailed prevention education, professional training and still-lifes. The gallery is located empowerment initiatives. The event will be held at 535 W. 22nd St. and is open at Holy Apostles Ballroom, 296 Ninth Ave. Tuesday through Saturday Tickets are $8 in advance, but go up to $350 for from 10 a.m. until 6 p.m. For special Valentine’s Day packages for two. For more information, visit more information, visit the listing at www.dcmooregallery.com. www.eventbrite.com/o/the-set-nyc-633116005. MARK YOUR CALENDAR… TUESDAY, APRIL 29, AND THURSDAY, MAY 1 THE BOTH, Aimee Mann and Ted Leo’s duo, will perform at the Bowery Ballroom on April 29 and at the Music Hall of Williamsburg on May 1. Tickets are on sale now and will likely sell out long before the show dates. The established artists started out performing covers together, but have since co-written original songs. Both performances are at 9 p.m., and the ticket price at each venue is $25. The Bowery Ballroom is at 6 Delancey St., Manhattan; the Music Hall of Williamsburg is at 66 N. Sixth St., Williamsburg, Brooklyn. For more information, visit www.boweryballroom.com or www.musichallofwilliamsburg.com. February 1o, 2014 | Crain’s New York Business | 27 VOICE SOLUTIONS FEATURING SIP TRUNKS FROM TIME WARNER CABLE BUSINESS CLASS Get better fl exibility today, and help prepare for tomorrow. Enjoy the freedom of a customized Time Warner Cable Ranks voice solution with as few as six call paths, then add lines when and where you need them – “Highest in Customer Satisfaction With Large Enterprise Business as few as one at a time. 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