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Networks, Advertisers Brace for NFL Impact NY Laws That Would Help

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Networks, Advertisers Brace for NFL Impact NY Laws That Would Help 20110228-NEWS--0001-NAT-CCI-CN_-- 2/25/2011 8:16 PM Page 1 INSIDE Mr. Mayor: Stop micro- TOP STORIES managing NYC, says Trump SoHo returns columnist to market—2 years Michael later, 21% off ® Gross PAGE 2 PAGE 2 Rising cotton prices push VOL. XXVII, NO. 9 WWW.CRAINSNEWYORK.COM FEBRUARY 28-MARCH 6, 2011 PRICE: $3.00 retailers to new fabrics Networks, PAGE 2 advertisers Hard hats hard hit DOOM 2 by unemployment brace for rates of 25%-plus PAGE 3 Can financial megabear Nouriel Roubini NFL impact City’s calorie counts change gloomy tune and keep his clients? quash fast-food Pro football lockout BY AARON ELSTEIN Money Never Sleeps. Sticking close to could force a rewrite appetites, reports type, he played a TV pundit who gravely health department NOURIEL ROUBINI, one of the few people warned: “If the government doesn’t get of revenue playbooks PAGE 4 to predict the collapse of 2008, long ago involved, there is a risk of a global melt- morphed from respected economist to down of the global financial system.” And BY MATTHEW FLAMM Same as it ever was global celebrity. Wall Street, meanwhile, has conferred on In 2009, GQ magazine named him its him its highest honor for unfettered IT WON’T BE A DISASTER if the National for banker investors Oracle of the Year. Last year, Oliver gloominess, the title Dr. Doom. Football League locks out its players IN THE MARKETS, PAGE 4 Stone cast Mr. Roubini in Wall Street: Now Mr. Roubini is trying to pull off when their collective bargaining agree- See MEGABEAR on Page 20 ment expires on March 4. But it could turn into one. If the lockout extends into May, BUSINESS LIVES SEEING THE BRIGHT when marketers and broadcasters start SIDE. REALLY: Nouriel negotiating rates for the coming sea- Roubini insists he son, both sides will have to regroup. sees “a number of Some of the nation’s biggest adver- positives” in the global tisers—who spent a total of $3.4 billion economy. on NFL games this past season,accord- ing to estimates by Nomura Research and Kantar Media—will have to seek out next-best alternatives to the high- est-rated franchise on television. And the networks will be scram- bling to find programming that can capture at least some of those ad dollars. GOTHAM GIGS See LOCKOUT on Page 20 She gives good (GPS) directions P. 21 ● ANNE FISHER on five signs of a bad deal P. 21 NY laws that ● MOVERS & SHAKERS Leaving his thumbprint all over New York P .. 22 would help ● GAEL GREENE says no encore for David Burke’s Stadium Grill P .. 23 business Top issues: property INDEX taxes, workers’ comp, THE INSIDER _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _8 subsidized power NEIGHBORHOOD JOURNAL _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _9 GREG DAVID _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _11 BY ERIK ENGQUIST ALAIR TOWNSEND _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _11 CLASSIFIEDS _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _16 BUSINESS GROUPS typically spend the FOR THE RECORD _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _18 first half of the year in Albany fending REAL ESTATE DEALS PLUS _ _ _ _ _ _ _ _ _ _ _ _ _ _ _19 off tax increases, state borrowing EXECUTIVE MOVES _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _21 schemes and expanded regulation.This THE WEEK AHEAD _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _23 year they expect to be on offense, driv- newscom ing their bills toward the goal line with- out much fear of being scored upon. But the fate of business-backed bills to WHO’S WHO IN ALBANY cap property taxes,reform workers’com- pensation and permanently extend a sub- Welcome to Cuomoland, where what sidized-power program hinges on the matters most right now is your connection outcome of the business community’s top priority: Gov.Andrew Cuomo’s budget. to a certain new governor PAGE 12 Business’ agenda begins with the NEWSPAPER See LAWS on Page 15 20110228-NEWS--0002,0003-NAT-CCI-CN_-- 2/25/2011 8:11 PM Page 1 COMMENTARY Trump SoHo is back—and A Wisconsin it’s selling for 21% off Glitzy condo-hotel state of mind project re-enters sales market priced to sell AST WEEK, it was revealed that not long after City Councilman Eric Ulrich BY AMANDA FUNG dared to suggest bicycle registration, his office was buried under 4,840 faxes, A TWO-BEDROOM, duplex penthouse most of them form-screeds accusing suite on the 43rd floor of the Trump SoHo with custom Fendi furnishings Lhim of “a hateful attack against every New Yorker and breathtaking views of lower Man- who owns a bike or might ride in the future.” hattan just got 13% cheaper—a hefty $1.26 million off the 2008 asking As one of the certifiably insane who keeps a car in ODD DUCK: The Trump SoHo is a condominium- Manhattan, I’ve had an unpleasant experience with price. hotel where the units’ buyers can spend no More than two years after the de- more than 120 days a year but where they earn New York City’s alleged eco-friendliest—a long,ex- velopers of the famously troubled a portion of the hotel’s revenues. pensive key scratch on my vehicle, inflicted by a psy- property pulled their condominium- cho-biker. But the growing debate over all those hotel project off the market, they are scheduled to announce Feb. 28 that empty bike lanes imposed by our mayor and his units will now be sold at discounts av- transportation commissioner,Roberta Moses,is just eraging 21% below the original asking a symptom of something more malign: the suffoca- price. tion of the very spirit of our city. Hopes for the 391-unit tower crashed during the financial crisis as When Ms. want clean. sales stalled and debts began to come Moses (aka We’re not afraid due. After successfully restructuring Janette Sadik- of what’s around their original $275 million loan and Khan) declared the corner; we lowering prices, developers Bayrock diagonal Broad- rush toward it. Group and The Sapir Organization way irrational, It’s a defining now hope that buyers will appear. started shutting characteristic, “The real estate market is improv- down stretches of even in our bik- ing, but it has a long way to go,” said square-foot one-bedroom it to automobiles ers—darting in Julius Schwarz, principal of Bayrock. suite is going for $1.646 mil- and all but said and out of traffic, “The decrease in our prices will bring lion, down 22%. A 422-square-foot ed in the postcrash era. Purchasers buy she’d like to see it when they aren’t out pent-up demand.” studio is selling for $1.023 million, fully furnished units and can live in gone because it MICHAEL whizzing by you As of last Thursday,279 units were down 12%. them for only 120 days a year. Owners violates the city’s GROSS in the wrong di- still unspoken for, including the “The new pricing represents mar- earn a portion of hotel revenues, most- grid, not to men- rection on the largest and most expensive—the re- ket reality,” said Rodrigo Niño, presi- ly generated from guests who stay in tion the earth, I rare day that they cently unveiled penthouse suites. dent of Prodigy Network, which has their apartment. Such properties typi- saw red, not green. do use those bike lanes. Since 2007, only 45 condo units have been the project’s marketing firm from cally attract investors or people seeking The mayor’s domestica- “[We’re] skilled profession- closed, for a total gross sales figure the beginning.“We are starting fresh.” a pied-à-terre. tion of Manhattan has gone als, wild, hell-bent acrobatic about $55 million; 67 are in contract. Trump SoHo is an unusual project Construction of condo hotels na- far enough. It’s there in the messengers,” said Jeremiah Under the new pricing plan,a 682- whose market appeal has not been test- See TRUMP SOHO on Page 20 nanny-state bans on foods, Moss, the blogger at Vanish- sodas and ciggies; ing New York,not the redesign of New Yorkers “three-speed nasty, grotty, country tootlers thrill-a-minute don’t want decked out in col- Times Square safe.
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