TOP STORIES REPORT City may turns its back on big builder Guide of low-income to growing housing a business PAGE 2 ® PAGE 21 Fortune bracing for arrival of new competition VOL. XXII, NO. 46 WWW.NEWYORKBUSINESS.COM NOVEMBER 13-19, 2006 PRICE: $3.00 PAGE 3 What Silver and TO DO ASAP Merrill mulls Weiner gained and Deal with budget deficit Fields and D’Amato lost on Election Day Jump on hospitals report downtown exit; THE INSIDER, PAGE 14 Find billions for schools Competition big HQ in play among private Bring political reform to Albany bankers heats up Fix campaign finance practices ing our options, given that we have PAGE 18 Bank hires broker impending lease expiration,” says a bloomberg newsbloomberg as lease expiration Merrill spokeswoman. Exec stepping into At stake is the headquarters of a ELECTION 2006 nears, setting off firm with $48 billion in revenues Tommy Tune’s and with more than 9,000 highly old pad after tristate scramble paid staffers downtown, who are $6M purchase spread out across 3 million square Spitzer’s ‘Day One’ feet of space. Merrill’s lease at the LIVING LARGE, PAGE 52 BY JULIE SATOW World Financial Center, where it occupies all of Tower 4 and a por- will take a while merrill lynch & co. may decide tion of Tower 2,will expire in 2013. BUSINESS LIVES within six months whether to re- Merrill also owns its former head- main in lower Manhattan—where quarters building at 222 Broadway, RETURN TO THE NEST nor’s office last week is the expec- it has been based since its on the other side of Ground Young professionals Runaway victory tation that he will now deliver on founding in 1914—or relo- Zero, where it occupies find it hard to sets reform bar high; what he has promised. cate to midtown or even to 660,000 square feet. strike out on Among the governor-elect’s the suburbs. 3MSQUARE FEET Remaining at the World their own deadlines loom Space that most likely priorities: take action The giant securities Merrill Lynch Financial Center is a possi- PAGE 47 on hospital-closing recommenda- firm has hired a broker,and leases in lower bility, but a problematic tions, prepare a budget that ad- Chief Executive E. Stanley Manhattan one. Merrill has occupied BY ANNE MICHAUD dresses the state’s massive debt O’Neal has met with New the bulk of that space for burden, resolve school funding in- Jersey Gov.Jon Corzine,who is ex- nearly 20 years, and while there the only thing bigger than the equities and champion good-gov- pected to make a strong effort to have been updates to the compa- public appetite for change that ernment reform. lure the company to his state. ny’s cavernous trading floor—a key swept Eliot Spitzer into the gover- See SPITZER on Page 8“We are in the midst of evaluat- See MERRILL on Page 8

AT DEADLINE

BOROUGH PRESIDENT HELEN MARSHALL will issue a report Tuesday calling for the FAO t ur na round construction of two hospitals in Queens, even as the Berger commission on hospital closures is preparing to issue a hardly child’s play report on Nov. 28. She cites PricewaterhouseCoopers in the city, perhaps in hot neighbor- findings that 34% of Queens CEO has cut clutter, hoods like Union Square or Park residents hospitalized in 2004 added new toys; Slope, Brooklyn. had to go to facilities in “We want to be New York’s toy Manhattan or Nassau County plans to open two store,” says Mr. Schmults, who because local services weren’t joined FAO last year to help put the available. more NYC stores once-bankrupt retailer back in the black. THE CITY’S FOREIGN STUDENT The additional locations are just POPULATION climbed 2.2% to BY ELISABETH BUTLER part of his strategy. Mr. Schmults 50,542 in the 2005-2006 has also ditched underperforming academic year, according to if fao schwarz’s new chief execu- products; pushed a low-risk, con- figures set to be released today tive gets his way, New Yorkers signment-style selling model; and by the Institute of Interna- won’t have to fight the crowds to added more baby products and toys tional Education. Columbia do their Christmas shopping at that appeal to boys. He believes that University topped the charts FAO Schwarz next year. Edward a well-rounded mix of exclusives See AT DEADLINE on Page 2 Schmults wants the 144-year-old and select mass-market merchan- retailer to open two smaller shops dise, both in-store and online, will return the brand to its legendary status. FAO must work hard to win back ON THE BALL: CEO New Yorkers. Only half of the 2.5 Edward Schmults is million people who visit the Fifth using his marketing and Avenue flagship every year live in Web expertise to ELECTRONIC EDITION revamp FAO Schwarz. the city. Some don’t realize that the store has reopened, and others think NEWSPAPER

See TURNAROUND on Page 8 gibbons catherine AT DEADLINE

Continued from Page 1 paper’s average weekday with 5,575 students from circulation was up 5.8%, to overseas, followed by New York 53,090 copies, in the six-month University with 5,502.The period that ended Sept. 30. The increase pushes the city’s foreign Sunday edition of El Diario saw student population past 50,000 circulation rise 8.4%, to 36,712 for the first time. copies. Publisher Rossana Rosado credits an improved THE NEW YORK NIGHTLIFE product and an expanded ASSOCIATION is developing a circulation push under owner campaign that will aim to ImpreMedia, which took over discourage underage drinking. It El Diario in 2003. will include outreach to law enforcement agencies, parents VERIZON WIRELESS OPENED ITS and owners of bars and FIRST STORE IN HARLEM last restaurants.The program, to be week.The company says that launched early next year, is part customers who sign up at one of of the association’s response to its stores are more likely to stay the political backlash against with the provider than are city bars and clubs. subscribers who sign up over the Internet or at a non-Verizon THREE LUXURY RETAILERS HAVE retailer. It now has 14 retail LEASED SPACE for temporary locations in Manhattan and 134 stores in the Time Warner in the New York metro area. Center mall. Fine foods purveyor Petrossian, crystal LAST WEEK’S MIDTERM BRONX BUDDIES: Peter producer Swarovski and whiskey ELECTIONS WERE GOOD for Jim Fine (left) and Monsignor maker Johnnie Walker will open Webb’s literary career, not just Sakano have built 296 stores this week and operate his political one. Doubleday affordable units together. them through Jan. 1. Johnnie Broadway is stepping up Walker will use its space strictly promotion of Born Fighting: for promotion, offering How the Scots-Irish Changed

engraving for customers who America, which the newly buck ennis bring in a $200 bottle of Blue elected Democratic senator label scotch whiskey they from Virginia first published in purchased elsewhere. The mall 2004. An ad for the paperback will allow other retailers to lease edition of the book will run in pop-up space starting in January. the national edition of The Housing squeeze New York Times this week. EL DIARIO/LA PRENSA IS THE Doubleday is also talking to FASTEST-GROWING NEWSPAPER booksellers about giving Born City may turn its back on low-income developers in New York, according to an Fighting and Mr. Webb’s Audit Bureau of Circulations novels, including The Emperor’s BY JULIE SATOW supplement set to be released General, more prominent today.The Spanish-language placement in their stores. ■ when peter fine and marc altheim launched their business over a decade ago, they CORRECTIONS specialized in building assisted living developments in Westchester and Connecticut. When The name of Benchmark Co. was misstated in the article “Signs of a digital Times” in the Nov. competition got too fierce, they looked elsewhere for inspiration. 6 issue. What they discovered was a little-known city incentive they have used to build 2,200 Also in that issue, the graphic headed “New York’s deep hole” should have given the figures for affordable housing units, mostly in the Bronx.The Bloomberg administration wants to end the state-funded debt in billions of dollars. incentive program, and the partners may have to change direction again. “Affordable housing is the soul of our company, and the city is taking a little bit of our soul away,” says Mr. Altheim, 43. He and Mr. Fine, 45, are the principals of the Atlantic THIS WEEK IN CRAIN’S Development Group. Atlantic finances its projects through the 421-a program, established in 1971 to spur housing GREG DAVID ------13 See CITY on Page 11 THE INSIDER------14

WEEK IN REVIEW ------16 NEIGHBORHOOD JOURNAL------20 Hospitals ready court push GROWING 53 A BUSINESS GUIDE------21 block implementation of recom- in restructuring assistance funds that Bankruptcy filings, mendations made by the hospital the state is promising facilities on REAL ESTATE DEALS------42 suits could stave off closing commission. the Berger list.“Bankruptcy is by no The most obvious option for a means a shield,” says David Sand- CLASSIFIEDS ------44 closings by state hospital trying to stave off closure is man, executive director of the Com- a bankruptcy filing, which would mission on Health Care Facilities in THE WEEKS AHEAD ------45 put it under the control of a the 21st Century. BY BARBARA BENSON BUSINESS LIVES------47 federal judge and theoreti- Nov. 28 The state is also likely to cally out of the reach of state EXPECTED face direct legal tests of its LIVING LARGE------52 state officials are expecting a officials. Insiders speculate release date for right to force closures. Hos- hospital closing CORPORATE LADDER------53 wave of bankruptcy filings and law- that some hospitals may commission pitals could invoke the right suits from hospitals targeted for hope to use the restructuring report to due process if the state EXECUTIVE MOVES------54 55 closing by the Berger commission, process to run out the clock, tries to withdraw operating BOB LAPE ------55 which is scheduled to release its rec- since the commission’s power to im- licenses without compensation or ommendations on Nov. 28. plement its recommendations ex- forces unwanted mergers. vol. xxii, no. 46, november 13, 2006—Crain’s New York Business (issn 8756-789x) is pub- lished weekly by Crain Communications Inc., 711 Third Ave., New York, NY 10017. Period- “There are going to be signifi- pires on June 30, 2008. “There will be a flood of litigation icals postage paid at New York, N.Y. and additional mailing offices. Postmaster: Send address cant legal challenges around the The strategy could backfire. A on some if not all of these issues,”says changes to: Crain’s New York Business, Circulation Department, 1155 Gratiot Avenue, Detroit, MI 48207-2912. for subscriber service: Call (888) 909-9111. Fax (313) 446-6777.$3.00 a state from facilities that must close,” judge could decide that the state may Cornelius Murray, a partner at Al- copy, $59.79 one year, $109.79 two years. (GST No. 13676-0444-RT) ©Entire contents says Francis Serbaroli, a partner at close a hospital even though it filed bany’s O’Connell and Aronowitz. copyright 2006 by Crain Communications Inc. All rights reserved. Cadwalader Wickersham & Taft. for bankruptcy; the hospital could The court actions would aim to then lose out on millions of dollars COMMENTS? [email protected]

2 | Crain’s New York Business | November 13, 2006 Fortune-sellers

Not surprisingly, Portfolio lured ness titles on the CNNMoney.com Biz title’s execs work away three top Fortune staffers as portal. Relaunched in January, CN- to solidify brand in part of a hiring spree ahead of its NMoney has shown remarkable launch. None of its personnel have growth, but it has left Fortune with sagging sector as rival come from BusinessWeek or Forbes. very little of its own online identity. Portfolio preps launch Mr. Serwer has put beefing up the A-team Fortune channel high on his list. portfolio also poached from other But Fortune, as part of a publicly BY MATTHEW FLAMM top sources to create its A-team of held company, will have fewer re- journalists and executives. Its star sources and less flexibility than pri- when blogger, columnist and editor, Joanne Lipman, hails from vately owned Portfolio. CNN regular Andy Serwer hopped The Wall Street Journal; its publisher, “The question ultimately is how into the managing editor’s seat at David Carey,has been credited with much Time Inc. will put into For- Fortune last month, replacing rela- tune competing against Portfolio, tive newcomer Eric Pooley, it was versus all the other issues it has to SOLDIER OF only the latest sign of flux at Time deal with,” says magazine consult- FORTUNE: Andy Inc.’s flagship business title. ant Peter Kreisky. Serwer, the third top Mr. Serwer, who exudes regular- Despite its troubles, Fortune re- editor in five years, will try to prop up the guy appeal, has been charged with mains highly profitable,with a reach Time Inc. title. protecting a storied brand during a and influence in the business world difficult time for both business that Portfolio,at best,will take a long magazines and Time Inc. itself. time to equal. Fortune had ad rev- The company’s namesake Time enues of $245 million through Oc-

magazine has just slashed its circula- tober, down 2% versus the year-ear- levinekarjean tion rate base by 19%, the Internet is lier period, according to Publishers eating away at the business category’s Information Bureau. ahead of the curve.” extend their brands,” says Brenda readers and advertisers, and a lavish- “From our position, which is one A spokeswoman for Business- White, director of print investment ly financed competitor—Condé Nast of strength, we don’t necessarily Week says that executives there are at Starcom USA. “Portfolio has Portfolio—will launch in April. have the most to lose [from Portfo- confident. “We are focusing on our caused an evolution in the category.” “The category is more competi- lio’s arrival],” says Chris Poleway, business, not Portfolio or our com- Portfolio executives, for their

tive than it’s ever been,” acknowl- jennifer chiu president of the Time Inc. Business petitors,” she says. part, believe that they can change edges Mr. Serwer, the third top edi- & Finance Network. “One of the the business advertising equation in tor of Fortune in five years. “We’re turning around The New Yorker. other competitors, one not quite as Shedding ad pages their favor. Mr. Carey expects to eat going to crank it up.” What’s more, Portfolio will be the well-positioned as us, might have in fact, all three major business ti- into the other titles’ financial and Fortune needs to crank it up. magazine world’s first major launch the most to lose.” tles have plenty to lose. They’ve al- tech categories while attracting lux- Portfolio’s arrival will mean a to forge its print and Web identities Executives at Forbes and Busi- ready shed half their advertising ury consumer ads, too. tougher environment for Forbes and simultaneously,making it an imme- nessWeek also insist that it’s the oth- pages since 2000,and readership has All the magazines will have BusinessWeek. But Fortune—which diate multimedia threat. er guy who has to worry. declined as well. With the category enough readers, Mr. Carey predicts, emphasizes the long-form journal- While Forbes and BusinessWeek “The last thing we would do is weakened, media buyers are excited “but we expect the advertising land- ism that Portfolio plans to show- have robust Web sites of their own, reposition ourselves in any way,” about Portfolio’s arrival. scape will be more competitive.” case—can expect to battle the Fortune’s site has been combined with says Jim Berrien, president of the “The titles are all stepping back Condé Nast title most directly. those of its fellow Time Inc. busi- Forbes Magazine Group. “We’re and looking at how they’re going to COMMENTS? [email protected]

AT A GLANCE Back at the table BANK BRANCHES DEEP IN THE RED CONGRESS TURNED ty stake in the company, where he New York. Over the next several blue New ownership started as a busboy 37 years ago. years, he plans to launch up to four last week, but red remains frees restaurateur Before the end of the year, Mr. restaurants annually in other major Valenti will announce the imminent U.S. cities and in Japan, where he the color of New York for NYC growth; opening of two new restaurants in expects to export the Naples 45 banks. Sovereign Bank, late to the game? brick-oven concept. He is also pur- suing high-end catering deals, sim- which took over Inde- ilar to the one he has with the Met- pendence Community BY LISA FICKENSCHER ropolitan Opera to run the Grand Tier restaurant at Lincoln Center. Bank earlier this year, the explosion of the New York In October, Mr. Valenti and his recently draped formerly dining scene over the past few years partner in Los Angeles, chef has seen nearly every major restau- Joachim Splichal, bought Res- blue Independence rateur in the city open a new taurant Associates/Patina from branches in red signage, eatery—except Nick Valenti. Compass Group of Chertsey, The industry veteran, whose U.K., for $90 million. Their in- interiors and logos. empire includes The Sea Grill at vestment partner is Japanese din- Bank of America, Commerce Bank and HSBC Rockefeller Center,and Café Cen- ing and food-service company tro and Naples 45 in the MetLife Shidax Corp. Bank also make liberal use of the attention- HUNGRY: Nick building, last opened a New York Valenti felt Compass kept the Restau- grabbing hue. “Red spot five years ago. Mr. Valenti, restrained by his rant Associates name and held the longtime chief executive of former corporate on to most of the East Coast is the most visible Restaurant Associates/Patina, parent. corporate contracts that Mr. and dynamic color,” has been unhappily sitting on Valenti had developed. the sidelines in his hometown, They include financial says Randall Stone, a held back by a British parent services firms, the U.S. senior partner at with different priorities. But Open, the PGA and he is about to get back in the several professional branding and design game. sports teams.The part- specialist Lippincott “We are financed for ex- ners kept the dining pansion,” says Mr. Valenti, who properties and West Coast Mercer. dave neff

last month assumed a greater equi- See RESTAURATEUR on Page 10 buck ennis

November 13, 2006 | Crain’s New York Business | 3 IN THE MARKETS HIGHLIGHTS REEL Restructuring gives +1.9% Colgate fresh sparkle The Bloomberg/ Analysts expect Colgate’s earnings Colgate shares should also benefit Crain’s New Company is a solid to increase to $2.90 a share this year, up as investors look to park their money in York Index buy as its market share 10% from $2.64 a share in 2005. Rev- defensive, large-cap stocks during the rose 1.9%, enues are forecast to expected economic to end the and margins both rise be $12.1 million—a slowdown. The com- week at ➡ 6% gain over last year. pany’s projected earn- 356. The Colgate’s earnings are ings growth rate of S&P 500 BY TOM FREDRICKSON expected to rise 12% more than 10% and its Index rose in 2007 on revenue 2% dividend yield 1.2%, wo years ago, Colgate-Pal- growth of 6%. make it doubly attrac- closing at molive Inc. looked ready to The gap between tive. 1381. take it in the teeth. profits and revenues The company Mighty Procter & Gam- reflects an improving boasts several well- ble had just snapped up gross profit margin, a known brands,includ- RISERS TGillette in a move many reckoned would gain that stems large- ing Palmolive dish 5-DAY 1-MONTH 3-MONTH CLOSING elbow Colgate off into relative obscurity ly from the restructur- soap and Science Diet % CHANGE % CHANGE % CHANGE PRICE in the global oral-care market. ing initiative. As a re- pet food, but the core NYSE Group +16.4% +15.8% +84.2% $94.48 It never happened. Instead of watch- sult of cuts, Colgate’s of the company is still ing customers defect to P&G’s expanded cost of goods sold de- oral-care products. 1-800-Flowers +12.2% +14.4% +16.2% $5.87 stable of brands—ranging from Crest to clined to 43% of rev- Colgate commands a Sirius +9.8% +7.0% +10.0% $4.13 the Oral-B toothbrush—Colgate has ac- enues in the third 37% share of the U.S. Market cap $33 billion Marvel +9.2% +9.0% +38.2% $27.36 tually increased its toothpaste market quarter of this year, toothpaste market. While some critics Interpublic +8.9% +13.0% +32.0% $11.42 share in recent quarters. compared with 45% a Trailing 12 months P/E 27 Investors should back a winner. True, year ago. The initia- criticize Colgate’s lack Dividend yield 2% Colgate’s success has already pushed its tive is expected to of diversification, the SINKERS shares up 40% in the last two years, but push margins deeper narrow scope has its 5-DAY 1-MONTH 3-MONTH CLOSING they still represent a solid buy. At a clos- into record territory advantages. “With so % CHANGE % CHANGE % CHANGE PRICE ing price on Friday of $65.24, the shares next year as the company continues to much on the line in the toothpaste aisle, Westwood One -16.8% -10.0% -0.4% $6.59 are valued at about 20 times next year’s ex- close less-efficient plants and trim staff. Colgate has been able to exploit P&G’s Sotheby’s -13.6% -9.6% +8.8% $31.75 pected per share earnings, or the same as Even Mr. Mark’s planned retirement occasional lack of focus and inability to P&G’s multiple. next year from the CEO post isn’t expect- find consistent, sustainable growth in the Medco Health -6.3% -15.1% -25.1% $47.94 What’s more, the massive restructur- ed to slow the momentum. He’s being re- segment,” says Lauren DeSanto, an ana- Maidenform -6.2% -1.9% +42.9% $20.00 ing initiative begun in 2004 by longtime placed by Ian Cook, a Colgate veteran lyst with Morningstar Inc. Investment Tech. -5.8% -19.8% -13.2% $39.49 Chief Executive Reuben Mark is bring- who has been president since last year. ing new sparkle to Colgate’s bottom line. Mr. Mark will remain chairman. COMMENTS? [email protected]

STOCKS TO WATCH Take-Two proves there are second acts for corporate misfits as stock regains favor Nasdaq wants to delist it for failing to hold a shareholders meeting and solicit owners’ votes. Parents hate it for its ultraviolent video games. But Take-Two Interactive is on a roll with investors. With Sony’s PlayStation 3 game player debuting next week and the latest edition of Take-Two’s top- selling Grand Theft Auto due out next year, analysts expect the company’s revenues to jump. The shares are up more than 40% since August. Despite the success scored by investment bank Keefe Bruyette & Woods in its first day of trading Thursday, Wall Street remains a tricky place to do business. Just ask investors in Cowen Group, an investment bank that went public in August and posted a third-quarter loss of $11 million last week. Cowen’s shares are still trading below their offer price of $16, even after riding Keefe Bruyette’s slipstream last week for a gain of 5%. After hitting fierce headwinds early in the year, shares of JetBlue Airways regained their momentum recently, rising 10% last week and 36% in the past month. The airline recently said it would offer passengers transfat-free snacks, but investors are probably more excited about the carrier’s healthy booking increases going into the holiday season. The shares are still flying 14% below where they began 2006, however. charts: jennifer chiu

4 | Crain’s New York Business | November 13, 2006 I AM WORKING WEALTH.

EARN YOUR FIRST DOLLAR BY YOUR LABORS. Get up early, work late. Get up the next day and do it again. Keep doing it, even after the dollars start adding up. SMILE AT CHALLENGES. CURSE AT IDLENESS. Be true to your dream. Don’t stop until you achieve it. Then dream another dream. And work to achieve that. PASS ON YOUR VALUES. NOT JUST YOUR ASSETS. Give your family a better life. And the world a better life, too. Leave no statues. Leave signs of significance. Working wealth wears no uniform and meets in no club. But you know who you are. We at Smith Barney would like to say one thing to you. WELCOME.

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©2006 Citigroup Global Markets Inc. Member SIPC. Smith Barney is a division of Citigroup Global Markets Inc. Smith Barney is a service mark of Citigroup Global Markets Inc. and its affiliates and is used and registered throughout the world. Citigroup and the Umbrella Device are trademarks and service marks of Citigroup Inc. or its affiliates and are used and registered throughout the world. Working Wealth is a service mark of Citigroup Global Markets Inc. Berlin Boston BuenosAires Rockefeller Center Chicago NEW YORK,NEW YORK Frankfurt welcomes the following new tenant edited by Valerie Block November 13-19 London

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represented by a number of nonrepeat units in the Madrid Exploiting Cohen’s clumsy Kazakh Howard L. Ecker & retail and media categories.” “I have yet to hear an advertiser Milwaukee Lou Vidaillet of orat could be headed to bookstores. Following allude to the political content of Jupiter Realty Services, L.L.C. the satiric faux documentary’s wildly successful the ‘Editor’s Letter’ as a reason for

NewYork pulling or cutting back on busi- and opening week, New York publishers are making B ness,” Mr. Menicheschi wrote in multimillion-dollar offers for a book project by Sacha Baron an e-mail, also noting that the

NorthernVirginia David R. Dusek of Cohen, the British actor and comic who plays blundering letter is popular with readers. Studley Kazakh journalist Borat Sagdiyev (below). Too bad they don’t buy ads. “The interest is extraordinary,” says Mr. Baron Cohen’s agent, Dan Strone, chief executive of the Trident Media Paris Eleven Madison Group. Philadelphia Insiders with knowledge of the Borat project say that aims to be a 10 there is nothing on paper yet, but that the book will include eleven madison park is in the

SanFrancisco Jon midst of a mini-makeover, tran- both text and illustrations—possibly in the manner of sitioning from a brasserie to a for leasing information, please contact: Stewart’s best-selling satire, America (The Book).Mr.Strone restaurant that better reflects its Peter Brindley brokered that project, too. grand setting in a former bank. SaoPaulo Natalia Macias Gilbert Mr. Baron Cohen has already made a deal with British “We’ve made it more of a Todd Silverman dining experience,” says Richard

Seattle publisher Boxtree for his book, The Times of Blythe Kinsler Coraine, chief operating officer of Theodore Koltis London reported last Danny Meyer’s empire, which in- SiliconValley month.The paper also cludes more popular eateries Union 212.715.0300 reported that the book Square Cafe and Gramercy Tavern. In February, EMP hired chef

Sydney will contain photos of Daniel Humm, who created a $76 naked women from pre-fixe dinner menu.The Flat- WashingtonDC Borat’s village. iron district eatery recently hired replacements for two key posts, sommelier and general manager. Adding to the ambience are new staff uniforms, tableware and lighting, as well as extra space:

gettyimages The number of seats was reduced to 140 from 165. Tribeca fires up “It’s an invited list,” Ms. New- burger says. Fish-free event hall Weiser is pleased to announce that year-round film fest last week, Dustin Hoffman and Will Bush-bashing sees net gains Ferrell yakked before a select group when bridgewaters opened of movie fans, including Mayor bites VF in the ads across the street from the Fulton Martin J. Michael Bloomberg, Naomi Wolf, despite good buzz and hot Fish Market in lower Manhattan Candace Bushnell and Lauren newsstand sales, Vanity Fair has two decades ago, management Weisberger, after a screening of seen its ad pages drop two years in filled the event hall with scented Lieberman their new film Stranger than a row. A high-level media planner candles and potpourri. “We want- has joined as a partner. Fiction.Tonight, Penélope Cruz says editor in chief Graydon Carter’s ed there to be a distinct difference (below) talks about her role in monthly attacks on President in aroma when you walked in,” director Pedro George W. Bush are to blame. says co-owner Penny Glazier,a Almodóvar’s “A lot of the advertisers [that principal of The Glazier Group. New York City Mr. Lieberman possesses more than 135 West 50th Street Volver. Vanity Fair] is losing are from Now that the smelly market has New York, NY 10020 30 years of experience providing The screen- Fortune 500 [companies] with moved to the Bronx, Bridgewaters Tel 212.812.7000 accounting, tax, and business valuation ings are part of right-leaning decision makers,” has been flooded with calls from Fax 212.375.6888 services. Mr. Lieberman has served clients the Tribeca says the planner, who adds that he brides-to-be wanting to throw Long Island in a broad range of valuation assignments, Cinema Series, has been in client meetings where weddings there. Bookings for so- 3000 Marcus Avenue Lake Success, NY 11042 including shareholder dissent suits, launched the issue was discussed. “CEOs cial events have risen 20% this year. Tel 516.488.1200 contract damage claims, divorce, and tax quietly by the are more likely to vote with their To accommodate the increased

Fax 516.488.1238 gettyimages Tribeca Film dollars now than in the past.” demand,The Glazier Group re- disputes. Mr. Lieberman’s focused expertise Festival in September as part of an Mr. Carter’s “Editor’s Letter” cently added 1,000 square feet of Westchester primarily encompasses estate and trusts 660 White Plains Road effort to create a cultural hub rarely misses a chance to blast the event space by converting a stor- Tarrytown, NY 10591 tax matters, valuations of closely held downtown and expand its reach president and the war in Iraq. But age area. “Bridgewaters has always Tel 914.333.0555 businesses, technology-based growth Fax 914.333.0556 year-round.The series grew out of Edward Menicheschi, who became done well,” says Ms. Glazier, “but companies, medical instruments and the festival’s popular Tribeca Talks publisher of Vanity Fair in August, I’m not sure the fish market was so New Jersey ■ 399 Thornall Street biotech companies, and service companies. feature. Events are held at the says the ad page softness is “due to great for business.” Edison, NJ 08837 festival’s downtown digs, which Tel 732.549.2800 Weiser's Business Valuations Group includes a movie theater and a Fax 732.549.2898 provides appraisal services of equities gallery for film-related exhibits. HOUSE-CLEANING SALE www.weiserLLP.com of closely held companies and other “With the cinema series, we can do events 365 days a year,” FISHS EDDY MARKED DOWN all of its Republican-themed mugs and intangible assets. says Patty Newburger, senior vice glassware the day after last week’s elections. While Democrat-ware president of festival parent Tribeca featuring FDR, JFK and other popular For more information, contact Enterprises. politicians did not go on sale, items Martin J. Lieberman, CPA/ABV, ASA Director Darren Aronofsky is ex- bedecked with images of the infamous, Weiser LLP pected on Wednesday to discuss his such as Spiro Agnew, Richard Nixon and Certified Public Accountants at 212.375.6558. yet-to-be released film The Foun- Strom Thurman, are now 20% off. tain. But don’t try to buy tickets.

6 | Crain’s New York Business | November 13, 2006 A search marketing tip by Search Master Steve.

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1Source: Nielsen//NetRatings, August 2006, U.S. Home/Work Combined; Nielsen//NetRatings @Plan, Fall 2006 2Source: Compete Conversion Benchmarking Study, June 2006. MSN led in four out of fi ve categories. Categories are based on a selection of category sites. MSN led in B2B, Consumer Electronics, Retail, and Travel. MSN did not lead in Financial Services. © 2006 Microsoft Corporation. All rights reserved. Microsoft and MSN are either registered trademarks or trademarks of Microsoft Corporation in the United States and/or other countries. The names of actual companies and products mentioned herein may be the trademarks of their respective owners. of tax payments. That approach worked well for Goldman Sachs. In Merrill mulls downtown exit exchange for agreeing last year to build a $2 billion,2-million-square- Continued from Page 1 The property, on Seventh Avenue the case in New Jersey. foot headquarters at the northern part of the headquarters opera- across from Madison Square Gar- News of Merrill’s possible move tip of Battery Park City, the bank is tion—it is no longer state-of-the- den, is owned by Vornado Realty has triggered a quiet scramble receiving $150 million in city and art. Undertaking the necessary ren- Trust.There is also the possibility of among suitors in neighboring states. state tax breaks and $1.6 billion in ovations would be expensive and a long-discussed new building “New Jersey is hot to trot,” says federally subsidized Liberty Bonds. disruptive. above the Port Authority Bus Ter- one real estate industry insider famil- Merrill has hired brokerage firm minal, at Eighth Avenue and West iar with the discussions.A call to Mr. Fate thought to be sealed Jones Lang LaSalle and begun the 42nd Street. Lawrence Ruben Co. Corzine’s office was not returned. john cahill, Gov. George Pataki’s search so early because its space re- began talks with the Port Authority Given the flexibility of modern- downtown czar, said at the time the quirements are so large that no sin- of New York & New Jersey earlier day investment banking, New York Goldman deal was inked that he be- gle existing building in the city this year about such a project. City officials have reason to be con- lieved that Goldman’s continuing would fill the bill. Complicating Merrill will likely look at Hudson cerned. presence in lower Manhattan would matters, the investment bank needs Yards on the far West Side,but unless “Merrill Lynch could move its help keep Merrill there.

a huge open floorplate able to ac- the No.7 subway line is extended,the trading business from Manhattan,” gettyimages Calls to the city about Merrill’s commodate its trading floor. area will continue to have inadequate says David Arena, president of the A WORLD AWAY? Merrill Lynch’s lease at the plans were not returned. A Merrill could possibly move to access to public transportation. New York region for Grubb & Ellis. Financial Center will expire in 2013. spokesman for Assembly Speaker one of the four buildings expected to “It already operates successfully in Sheldon Silver, who represents low- rise at the World Trade Center over Worried officials New Jersey, and other firms have er Manhattan, says that Mr. Silver the next few years.However,brokers what worries city and state of- proved that you can trade in loca- of downtown long ago, but they still was unaware of Merrill’s possible say that the company has already ficials is the prospect that Mer- tions other than New York City.” have huge offices there. departure.He adds,“He will contact ruled out a move to the Freedom rill could leave New York alto- If Merrill departs, it would be a At this point, Merrill is likely to the company and do everything he Tower, the site’s centerpiece. gether. Brokers say the investment blow to downtown’s status as a fi- sit back and let various city and state can to ensure it remains in lower Midtown options include a new bank has already looked at loca- nancial hub. Lehman Brothers, governments compete for the honor Manhattan.” building that could be developed on tions in Connecticut, where there Morgan Stanley and J.P. Morgan of hosting a top Wall Street player— the site of the Hotel Pennsylvania. are plenty of alternatives, as is also Chase moved their headquarters out and for the huge accompanying flow COMMENTS? [email protected]

2008 state budget,which must be sub- put the governor-elect at odds with Insiders say Mr. Spitzer will not mitted to the Legislature on Feb. 1. Mayor Michael Bloomberg. Mr. make any early reform proposals Spitzer’s agenda Though a recent report said that the Spitzer has suggested that the state that would require the cooperation state would end its current fiscal year pay 75%, with the city making up of the state’s two legislative leaders, Continued from Page 1 deadlines loom even before he is with a $1.1 billion surplus, the gov- the rest.The mayor’s position is that Assembly Speaker Sheldon Silver During the campaign, Mr. sworn in on Jan. 1. ernor-elect expects to face a deficit the city should not contribute more. and Senate Majority Leader Joseph Spitzer highlighted his message by in the next two years. Sources antic- Bruno. In part, that will allow all of promising that, “Day One: Every- Closing time ipate that Mr.Spitzer will announce Setting an example them to enjoy a honeymoon period. thing changes.”In reality,change will by the end of November,the hospi- a strategy to reduce the state’s debt mr.spitzer is expected to begin his “For the first 90 days, there will not happen in a day,or even 100 days. tal closing commission led by invest- burden, which increased more than efforts to reform Albany without be nothing of import put forward “It is going to be very, very tough, ment banker Stephen Berger will 68% during Gov.George Pataki’s 12 pushing new legislation.Instead,ob- for Shelly or Joe,”says one adviser to and some things will take a period of announce the list of facilities that it years in office, to $48.5 billion. servers say, he will effect change by the incoming administration. time,”says Manfred Ohrenstein,for- recommends for closure.Mr.Spitzer Another priority of Mr. Spitzer’s setting a good example. He is likely Aides to Mr. Spitzer are already mer Democratic leader of the state has already signaled that he intends first 100 days will probably be settling to enforce campaign-finance limits trying to dampen the high expecta- Senate. “But I’m absolutely con- to support the recommendations as the Campaign for Fiscal Equity for his fund-raising efforts. The six tions for change, which are largely vinced that he has the energy and a first step in controlling health care school-funding suit.He has said the people named to head his transition based on his track record of battling smarts to get us on the road to solv- spending.But the political pitfalls of state must go beyond court rulings committees were asked to sign wrongdoing on Wall Street. ing some of these problems.” shuttering institutions are substan- to provide more money to New York agreements that require them to ac- “I can already read those head- Of course, Mr. Spitzer won’t be tial: Every community slated to lose City and help underfunded urban cept no gifts from job candidates lines as we move into Day Two,”says able to deliver quick solutions to the a hospital will protest loudly, as will districts statewide.That will take bil- and to avoid conflicts of interest. one Spitzer aide.“Certain people are most complex issues.Those include unions and affected legislators. lions of dollars on top of the $5 billion “The first thing he’s doing is going to be very critical.” reviving the stagnant upstate econ- Insiders say that even before last already due to the city—and last week changing the culture, and nothing omy, cutting property taxes and week’s election, Mr. Spitzer and his Mr. Spitzer reiterated his vow to could be more welcome or needed,” COMMENTS? [email protected] expanding health care coverage aides used the luxury of his huge lead make it happen without raising taxes. says Assemblyman Richard Brod- Reporter Erik Engquist contributed while reining in costs. Instead, two in the polls to focus on the 2007- The school funding matter will sky, D-Westchester. to this story.

clutter at the flagship. He shaved year,and,along with the catalog,will does have to happen relatively about 2,000 items from the shelves, generate about 40% of the compa- quickly,” says David N. Deutsch, Turnaround at FAO including Groovy Girls dolls,which ny’s revenue this year. Mr. Schmults founder of an eponymous merger- are featured at Target.He intends to plans to use his Internet savvy to and-acquisition advisory firm. Continued from Page 1 Waage. The retailer lost millions of ax another 2,000 after the holidays. help the direct-to-consumer divi- Starting with this important hol- of it as a tourist attraction rather dollars while it was operating 15 At the same time, FAO has sion contribute half of FAO’s sales. iday season, Mr. Schmults will cater than a place to shop. stores nationwide. It now runs just added Lego products,the classic but Industry insiders say the changes to uptown moms by carrying more When Carla Waage, a Manhat- two, including one in Las Vegas. still wildly popular mass-market at FAO show innovation. But some upscale baby products and boys’ tan resident who works in a doctor’s toys, and offers several European- are skeptical of the plan to open toys, such as video games. FAO will office, needed a birthday present for Adding and subtracting issue sets exclusive to FAO in the more stores in New York. also offer free delivery between 46th her 11-year-old godson last week, the former chief operating officer United States. Carried in the stores “Look at Toys ‘R’ Us—they and 96th streets in December. she went straight to Toys “R” Us at of online retailer Red Envelope since the summer, the Lego line is bombed in Union Square,” says in- Mr. Schmults’ profitability plan Times Square. “I didn’t even think moved here from San Francisco last expected to ring up sales of $1 mil- dustry consultant Christopher involves a consignment structure of going to FAO, and it’s closer to fall with his wife and toddler daugh- lion by year’s end. Byrne. FAO’s Fifth Avenue store is for vendors that department stores where I live,” Ms. Waage says. “I ter. Mr. Schmults’ mission at FAO “I don’t want this to be built as an all about the big-show experience, often use. Companies, including walk past it every day.” includes offering one-stop toy amusement park,” Mr. Schmults and “if you take that away,you’re just train-set maker Lionel, have signed Investment firm D.E. Shaw, shopping while maintaining the says. “I want to sell more toys.” an expensive toy store,” he says. contracts with FAO for retail space. which bought FAO out of bankrupt- company’s distinctiveness and The Web site is another work in They build,staff and stock their own cy in 2003, brought in Mr. Schmults strengthening its Internet business. progress.The site offers about 2,000 Growing sales shops within the store, and FAO to help entice shoppers like Ms. To that end, he’s cut down on items, compared with just 500 last mr. schmults insists that he won’t gets a percentage of the sales.Though launch dozens of stores, just enough less than 10% of vendors are partic- to woo New York residents who over- ipating, they generate about 25% of TOYING WITH TIME look the flagship. His other changes the store’s receipts. have already made a difference.Sales “We opened our first shop in the 1862 1986 2002 2003 2004 2005 2007 are on track to grow 35% this year, best location possible in Manhat- FAO Schwarz Moves into its Goes public Files for Sold to D.E. Hires Edward Plans opening and the average sale is a respectable tan,” says Jonah Staw, owner of Lit- founded by current New on the New York bankruptcy Shaw & Co., Schmults as of two more $50,though Mr.Schmults would not tle Miss Matched, a young firm that Frederick York flagship at Stock Exchange which reopens CEO New York stores disclose specific financial figures. sells brightly colored socks and ac- August Schwarz 767 Fifth Ave., two stores, in The sharp investors at D.E. cessories.“Our sales are tremendous in Baltimore at East 58th New York and Shaw are watching closely for con- there,” he says. Street Las Vegas tinued progress.“People in the turn- around business know that the turn COMMENTS? [email protected]

8 | Crain’s New York Business | November 13, 2006 A Business Card that earns free fl ights on JetBlue? Now,that's a departure.

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1. You will receive double Award Dollars on purchases of wireless telephone services, automobile gasoline, car rentals, offi ce supplies and equipment and JetBlue fl ights, in each case not purchased at warehouse clubs, superstores or supermarkets. 2. 5% savings, which will appear as separate statement credits of 3% and 2%, is valid on air-only travel purchased directly from JetBlue reservations at 1-800-JETBLUE or www.jetblue.com. JetBlue Business Card accounts will receive a maximum annual savings of $2,000 per Card account. 3. The expiration date of all TrueBlue points in your TrueBlue Membership Account will be extended to be one year from any date you have a TrueBlue point credited to your TrueBlue Membership Account from one of the following activities: (1) Using your JetBlue Business Card Account for eligible purchases or (2) The primary account holder fl ying a JetBlue fl ight segment that is paid for with your JetBlue Business Card Account. Eligibility and timing are based upon the date the TrueBlue point is credited to your TrueBlue Membership Account from one of the above qualifying activities. 4. The $50 statement credit applies to the fi rst eligible purchase made between 7/1/06 and 7/1/07. The maximum discount available is $50 per account. 5. Customer is responsible for government taxes and fees that may apply to Award Travel. JetBlue Cardmember Agreement and TrueBlue Terms and Conditions apply. ©2006 American Express Company. Restaurateur back at the table in NYC Continued from Page 3 ings in New York has many worried sold its interest in caterer Bon Ap- contracts. They have renamed their The new deal about a crash. petit Management Co. to Com- company Patina Restaurant Group, “There are difficult times ahead,” pass. Shidax is giving Messrs. after Mr. Splichal’s holdings. gives Valenti says consultant David Napolitan. Valenti and Splichal—whose titles The deal was a long time coming are CEO and chef and co-founder, for two fine-dining entrepreneurs autonomy as Winning record respectively—autonomy as well as who felt stifled as part of Compass, ichiro fujita, chief operating offi- capital. a giant whose primary business is well as capital cer of Shidax, acknowledges these “Shidax will invest a much high- providing contract services to cafe- trends, but says he believes in the er amount than Compass,” Mr. terias and big events. In Shidax, Patina management team because Fujita says. they have found a collaborator that of its long history of success. The deal also enriched Messrs. wants them to expand their upscale The $1.6 billion Shidax owns Valenti and Splichal. Industry holdings. But some industry insiders won- about 300 karaoke bars in Japan and sources estimate that Shidax paid “The difference this time is that der whether the expansion is ill- has a vast corporate catering busi- the pair as much as $35 million, in Joachim Splichal and Nick Valenti we and Shidax share a passion for timed. Sales at national chains have ness. It has wanted a foothold in addition to financing most of the restaurants,” Mr. Valenti says. slowed this year, and a glut of open- North America since 2002, when it $90 million buyout. Their com- RETURN TO ITS ROOTS FOUNDED IN 1948, Restaurant Associates is among the oldest such companies in town. It made a splash in 1959 by opening Four Seasons restaurant, which it no longer owns. Two chains—Charlie Brown’s Steakhouse and Acapulco Mexican Restaurants— were also part of its realm in the 1970s and ’80s. The Restaurant Associates name now belongs to a British company that spun off a later acquisition, Patina Group, to Nick Valenti and Joachim Splichal, whose plans include opening more New York restaurants. Two Weʼve all seen the New York City skyline. will be announced shortly.

bined stake in the new firm is esti- mated at 30%. None of the parties Weʼre more interested in your views. involved would comment on the deal’s financial details. Patina now owns 34 restaurants, holds 17 corporate catering con- tracts and employs 4,000 people. Its combined annual revenue is about $220 million. Coming together messrs. valenti and Splichal joined forces in 1999, when Com- pass acquired Patina Group and combined it with Restaurant Asso- ciates, which Compass had bought the year before. The division was a cog in Com- pass’ 200,000-employee, $7.5 bil- lion food-service operation in the United States. Cohen & Perfetto: A personalized approach to real estate law. The relationship between Com- Itʼs a simple, but profound, premise: Each client represents an important relationship. pass and Mr. Valenti changed in And every one of those relationships demands our complete attention and dedication. 2002, when he bought back 6% of At Cohen & Perfetto, this is the philosophy that drives us. We make the connections his restaurants, says Palmer Brown, vice president of strategic planning that build these relationships, adding depth and value to every partnership we forge, at Compass. and every transaction that transpires. Whether your needs involve real estate, govern- Believing that Mr. Valenti ment incentives, banking, zoning, or litigation, itʼs not just a deal to us: Itʼs your deal. would eventually want to part Learn more at www.cohenperfetto.com. ways, the company asked him to agree not to compete with the firm for corporate accounts on the East Coast. “As a result, most of our growth has been on the West Coast,” Mr. Valenti says.“Now we’re free to grow the company in the East.” 444 Madison Avenue, 5th Floor Shidax has promised Messrs. C New York, NY 10022 Valenti and Splichal a much greater P COHEN & PERFETTO LLP Tel: 212-488-1300 Fax 212-813-0767 role in shaping their company’s fu- Attorneys at Law www.cohenperfetto.com ture.“Nick and Joachim view them- selves as more independent under Shidax than under Compass,” Mr. Brown says.

COMMENTS? [email protected]

10 | Crain’s New York Business | November 13, 2006 only in a strong housing market. With the continuation of the City may turn its back on developers certificate program a long shot, At- lantic is preparing to adapt. It is Continued from Page 2 er,” says Adam Weinstein,president $300 million to be spent over 10 ket-rate condos will plummet, so building a mixed-income project at construction through 10- to 25-year of Phipps Houses, one of a handful years—for affordable housing de- there will be not only fewer afford- 33 West End Ave. and will develop abatements in property taxes. To of other developers who have partic- velopers. Atlantic estimates that able units but also fewer market-rate two Manhattan sites it acquired re- qualify for the program,market-rate ipated in it. the fund would create only 300 af- ones,” Mr. Altheim says. cently into a market-rate apartment developers in much of Manhattan Last month, the Bloomberg ad- fordable units annually over the But the city has a different view. building and a hotel. But it argues must set aside 20% of their units for ministration proposed abolishing next decade, compared with an av- Housing Commissioner Shaun that the changes wouldn’t be good affordable housing or pay affordable the certificates as part of an overhaul erage 1,000 units annually with Donovan argues that Atlantic’s for the city. developers a set fee per unit to build of 421-a. If the proposal is approved certificates. dominance in the certificate market “The true essence of the certifi- them. Since its inception, 109,550 by the City Council, developers in illustrates its inefficiency.Eliminat- cates program is what it has done in apartments have received the tax most of Manhattan and parts of REBNY’s support ing the certificates will create an in- the outer boroughs,” Mr. Fine ob- abatement, roughly a quarter of Brooklyn and Queens would quali- the real estate board of New centive for more apartment and serves. “We must ask ourselves if them with the fee payments, which fy for the tax abatement only by ded- York opposes the fund,which it says condo builders to allocate 20% of we shouldn’t preserve the option are in the form of certificates. icating 20% of a project to affordable will drive for-profit developers out their projects to affordable units, he to have the affordable units built “There is no doubt that the units. of the affordable housing field. insists. Additionally, he says, the off-site.” 421-a program has led to a renais- The administration would also “Without the ability to buy cer- fund would be impervious to market sance in the Bronx,” says Monsign- establish a fund—an estimated tificates, the construction of mar- cycles, whereas the certificates work COMMENTS? [email protected] or Donald Sakano, who runs the Highbridge Heights Community Housing Development Finance Corp. It has built 296 affordable units over the past four years in the Highbridge section of the borough in partnership with Atlantic. The city says the certificates helped finance 5,445 affordable housing units. In the past six years, A new city fund will create only 300 affordable units a year (Bells)

Atlantic has been responsible for 67% of all units built with certifi- cates, putting Messrs. Altheim and Fine at the center of the debate over the program’s effectiveness. Both men are native New York- ers with backgrounds in affordable housing. Mr. Altheim—whose oth- er passion is being the first commis- sioner of Beach Tennis USA—was the chief executive of Housing En- terprise for the Less Privileged and (Whistles) worked for the New York State Housing Finance Agency. He met Mr. Fine, who grew up in a public housing project in Queens, when Mr.Fine was the director of housing at the Metropolitan Council on Jewish Poverty and Mr. Altheim was on the board of directors. Oxford. Health care coverage with all the extras. Taking on big risks they argue that Atlantic’s expert- ise as a for-profit developer with extensive knowledge of affordable housing is the reason for its success What sets an Oxford product apart from the ordinary are the little extras – as well as the big extras. Starting in the complex certificates pro- gram. with the large number of plan designs we offer to help meet the needs of your business. And our localized “It wasn’t a conscious attempt to customer service. You’ll notice our strong relationships with local physicians and hospitals, in addition to corner the market,”Mr.Fine says.“I a renowned national network. We have an intelligent approach to medical management that helps keep our think part of the reason there are not more developers who do this is members healthy, while also helping to keep costs down. There’s also our popular and practical wellness because they don’t want to take on programs, where our members get extras like discounts on gym memberships. At UnitedHealthcare, we’re the risk.” proud to be able to offer Oxford products to you. To fi nd out more about what makes Oxford right for Among the risks Atlantic as- sumes are finding market-rate buy- your business, call your broker. Or call 800-642-6877, or go to uhctoday.com/oxfordhealth. ers for the certificates—almost al- ways condo developers—and agreeing on a price for them. The city will not distribute certificates to affordable developers until their projects are complete, so Atlantic could forfeit deals if it doesn’t finish on time. “I always described the certifi- © 2006 United HealthCare Services, Inc. Insurance coverage provided by or through United HealthCare Insurance Company of New York. Oxford’s HMO products are underwritten by Oxford cate program as a bunch of people in Health Plans (NY), Inc., Oxford Health Plans (NJ), Inc. and Oxford Health Plans (CT), Inc. and Oxford’s insurance products are underwritten by Oxford Health Insurance, Inc. a dark room trying to find each oth-

November 13, 2006 | Crain’s New York Business | 11 V I EWPOI NT 4 priorities for Gov. Spitzer editor in chief Rance Crain vice president, publishing director liot spitzer’s smashing victory in last help the estimated 3 million New Yorkers without medical Alair Townsend Tuesday’s election gives him the political coverage. Hospitals get reimbursed for so-called charity care, publisher Jill Kaplan momentum to act quickly on many of the whether they actually provide services to the uninsured or not. EDITORIAL state’s biggest problems. Four items head What’s needed is a comprehensive program based on a editor Greg David managing editor Richard Barbieri the list. requirement that companies and individuals buy coverage, projects editor Cynthia Rigg PRESS IMMEDIATELY FOR STRUCTURAL and reforms that make policies affordable. Massachusetts deputy managing editors Valerie Block, Erik Ipsen REFORM. It has become a truism that has led the way, and Mr. Spitzer should mobilize a large senior reporters Aaron Elstein, state government is dysfunctional. But the governor-elect coalition behind a similar solution here. Lisa Fickenscher, Matthew Flamm, has a unique opportunity to weaken the hold of special FIX WORKERS’ COMPENSATION. Candidate Spitzer often Tom Fredrickson, Samantha Marshall, E Anne Michaud, Miriam Kreinin Souccar interests in Albany. said he was profoundly depressed by the economic reporters Barbara Benson, Elisabeth Butler, conditions he encountered while campaigning upstate.The Erik Engquist, Amanda Fung, Hilary Potkewitz, First, he should use his bully pulpit to shame the Julie Satow, Gale Scott Legislature into enacting campaign finance reform that would best way to send a signal that he will boost upstate’s fortunes restaurant critic Bob Lape lower contribution limits for candidates and parties and ensure is by brokering a art director Steven Krupinski deputy art directors Carolyn McClain, that business and labor groups are subject to the same rules. He should fulfill compromise on workers’ Daniel Mednick It’s also necessary to change the law to require the strict compensation—a staff photographer Buck Ennis copy desk chief Wendy Zuckerman disclosure of legislators’ outside income and real-time his pledge to get burdensome cost for all copy editors Michele Arboit, Leslie Jay, reporting of campaign contributions and lobbying expenses— businesses and a Thaddeus Rutkowski redistricting research editor Denise Southwood all of which should be made available on the Internet. crippling one for upstate associate research editor In addition, Mr. Spitzer should fulfill his campaign pledge through—now manufacturers. Adrianne Pasquarelli www.NewYorkBusiness.com to push through nonpartisan redistricting to make legislative The latest data show online editor Catherine Tymkiw races competitive again—and he should do it now rather that New York has the online reporter David Jones than in 2012, after the next census. second-highest average EDITORIAL AND ADVERTISING OFFICES BACK THE BERGER REPORT ON HEALTH CARE. The so- workers’ comp claims in 711 Third Ave., New York, NY 10017-5806 editorial: 212.210.0277 Fax 212.210.0799 called Berger commission will soon deliver recommendations the nation, even though the state’s maximum $400-per- advertising: 212.210.0259 on how to shrink the state’s costly hospital and nursing week benefit is extraordinarily low and has remained Cable craincom nyk Fax 212.210.0499 home systems. It’s crucial that Mr. Spitzer keep his unchanged since the early 1990s.That disconnect stems Entire contents ©copyright 2006 Crain commitment to support the panel, because its work should from claims involving what is known as a permanent partial Communications Inc. All rights reserved. ®CityBusiness is a registered trademark of MCP be just the first step in making health care more affordable. disability. Such cases account for only 15% of cases but eat up Inc., used under license agreement. He could couple that with an announcement of measures to 75% of all workers’ comp expenditures, because New York TO SUBSCRIBE: tackle Medicaid fraud and to examine how some wealthy doesn’t put a time limit on those benefits or impose objective Call 888.909.9111; fax 313.446.6777. $3.00 a copy, $59.79 one year, $109.79 two years. individuals protect their assets while qualifying for standards when assessing claims. Most other states do. www.NewYorkBusiness.com Mr. Spitzer needs to use his clout to force a compromise Medicaid—thus forcing taxpayers to pick up the tab for ADVERTISING AND MARKETING their long-term care. in which benefits are raised in return for time limits and advertising director Vanessa Cognard MAKE THE UNINSURED A PRIORITY. Albany spends billions objective standards, a move that would reduce premiums and business development manager Robert N. Grossman of dollars on health care, but only a small percentage goes to make it clear that upstate is one of his priorities. account executives Andrew Carlin, Holly A. McKeown, Derek Reese, Jennifer Siniscalchi, William E. Squitieri, Brigitte Stieglitz LETTERS TO THE EDITOR western account manager Ellen Mazen (Los Angeles) 323.370.2477 classified sales manager John Gallagher newsletter product manager Catherine Evans Gittens sales coordinators Lulé Haznedari, Bringing stabilization up-to-date Anita Perrino credit Pat Grondziak 313.446.6082 DECONTROL THRESHOLD The fact is that the income today is staggering. decontrol at the natural rate of marketing director MJ Snyder SHOULD BE RAISED rules used in determining I think that if a convincing attrition. marketing assistant Jill H. Bottomley decontrol eligibility have already argument can be made to include keith gardner circulation manager Reginald Jordan as a longtime tenant in New been lowered once, in 1997, from additional types of income in the internet director Marc Minardo York City and for 11 years a rent- the original $250,000 of taxable luxury decontrol determination, a BANNING ADS NEW YORK PRODUCTION stabilized one, I feel compelled to income down to the current far more convincing argument FOR PROFESSIONALS production and pre-press director counter the letter from landlord $175,000. Even more damaging can be made to increase the rent Michael Corsi N. Anthony Rolfe in the Nov. 6 (from a tenant’s perspective), the threshold to something on the i believe that doctors and advertising production manager issue. $2,000 luxury decontrol threshold order of $4,000 or $5,000 per lawyers should not be allowed to Suzanne Fleischman Wies I understand that most established in 1993 has remained month. Changing one without advertise (“Fighting ad crack- PUBLISHED BY CRAIN COMMUNICATIONS INC. landlords would like to see rent unchanged, even though it is by no the other would cause far more down,’’ Oct. 30). I have found chairman Keith E. Crain stabilization eliminated. As such, measure consistent with the rent unbearable disruption in more some of the television and print president Rance Crain it is not a surprise that Mr. Rolfe of a luxury apartment in today’s people’s lives than the benefit ads from many of the “ambulance secretary Merrilee Crain would spend time thinking up dollars. In short, the difference in that would be derived by the few chasers” appalling. They mainly treasurer Mary Kay Crain ways to decontrol some protection offered by the law as greedy landlords who are not target the poor. executive vp, operations William Morrow apartments by changing the rules. originally passed and what it is even willing to live with senior vp, group publisher Gloria Scoby irene alfandari group vp, technology, circulation, manufacturing Robert C. Adams vice president/production & manufacturing David Kamis WHAT’S COMING UP IN CRAIN’S? corporate circulation director Patrick Sheposh Economic Area’s 200 largest Real Small Nonprofit Year-end Economic business industry book of outlook founder G.D. Crain Jr. (1885-1973) development privately held estate chairman Mrs. G.D. Crain Jr. report companies report report report lists report (1911-1996) Nov. 20 Nov. 27 Dec. 4 Dec. 11 Dec. 18 Dec. 25 Jan. 1

12 | Crain’s New York Business | November 13, 2006 The mayor’s thinking goes SPACESO SPECTACULAR… IT MAY TEMPT YOU TO MOVE EVEN IF YOU’RE HAPPY WHERE YOU ARE. something like this. His key achievement has been winning mayoral control of the schools, the prerequisite for improving the sys- tem.But this mayoral power will ex- pire in 2009, unless it is renewed by the Legislature. By satisfying the teachers, Mr. Bloomberg ensured that UFT President Randi Wein- garten won’t oppose him on this is- sue.Calm on the labor front also will help morale as schools Chancellor Joel Klein tries to ensure that schoolchildren actually get a better education, and that the test scores prove it. Mr. Bloomberg’s rationale is un- derstandable, but it comes at a high cost—starting with the abandon- ment of Chancellor Klein’s reform agenda. For years, Mr. Klein has in- sisted that if education is to im- Entire 32nd Floor – 23,750 rsf. prove, the city must be able to pay Custom built space with teachers more for working in under-

john h.john howard breathtaking harbor views performing schools and in hard-to- and 12' ceilings. staff specialties, and must be able to get rid of poor performers. Now it • On-site Owner/Manager appears that the concessions won a • Magnificent Lobby year ago will have to do for the fore- • Striking Architectural Details Passing the bucks seeable future. • Impressive Curbside Presence on In addition, Mr. Bloomberg has Broadway agreed that workers will be awarded • Quarterly Meetings with Every Tenant raises even if they don’t agree to in- • Tenant Events with Civic and on teachers deal crease productivity. He gave up that 212-609-3700 Business Speakers ground in a contract signed earlier • Unparalleled Tenant Service this year with District Council 37, GREAT SERVICE n october 2005, Mayor Michael Bloomberg agreed IS ALWAYS GOOD BUSINESS • On-Site Conference Center – to give New York City teachers hefty pay raises in and it’s now set in stone for all mu- “We’re earning the right to be your next landlord.” No Charge to Tenants nicipal unions. The mayor could • Restrooms Cleaned Twice Every Day return for concessions on seniority rights that would have waited to make sure that the Daniel M. Blanco and Raymond Chalmé strengthen the ability of principals to choose their own city’s prosperity continues. He has staffs. He also required longer hours, which he said already warned that the slowing housing market and potential prob- Ihelped justify the salary increases. The mayor did so well be- lems ahead for Wall Street could cause he had let the teachers languish without a contract for quickly turn budget surpluses into We mean business. deficits. more than two years as be changed. And by ne- Worth special attention is how pressure built on union gotiating a new contract Mr. Bloomberg allowed the teach- leaders to make a rea- almost a year before the ers union to set the expiration date Office and sonable deal. current one is slated to for the new contract at the end of his Last week—only expire, he put all the term in 2009, thereby handing the 13 months later, at a bargaining chips in the UFT the ability to trade its support Retail Leasing time when everyone hands of the union. in the next mayoral race to the high- was preoccupied with With three years to est bidder. This decision is almost the election—the may- go in his term, the may- unprecedented for Mr. Bloom- Finding value that others overlook. or announced another or has decided that his berg—the first time he’s made a de- contract with the Unit- top priority in educa- cision that so clearly says, “It’s not ed Federation of Teach- GREG tion is to preserve what going to be my problem.’’ ers. Again, he gave DAVID he has achieved so far. Of course,it will be our problem. them a hefty raise. This The question is wheth- time,there were no con- er such policies will turn Publishing Director Alair Townsend’s cessions on the many work rules that into the leitmotif of the remaining column returns next week as she looks at the Mr. Bloomberg has long said must Bloomberg years. infuriating actions of government.

Other Commercial Divisions: Development • Property Management • Asset Management CRAIN’S ONLINE POLL NYS LICENSED REAL ESTATE BROKER SHOULD SEN. CLINTON RUN FOR THE WHITE HOUSE IN 2008? MORE THAN HALF of the 266 No, America Yes, the field is isn’t ready for a unimpressive respondents to a NewYorkBusiness.com woman in the . and she has as poll say Sen. Hillary Rodham Clinton White House 6% good a chance . as anyone should not run for president in 2008. A 23%

full 50% say she would fail because No, she’s still Yes, she’s a good people outside New York don’t like her. disliked .50% candidate; even nationally and 21% . if she loses, it But 23% think she could pull off a victory, it’s a losing sets the stage and 21% say a presidential run would lay cause for a 2012 run the groundwork for a campaign in 2012.

For this week’s question: Go to www.NewYorkBusiness.com/poll to have your say.

November 13, 2006 | Crain’s New York Business | 13 aligns the UFT with the mayor, who opposes any city contribution to a CFE settlement. Mr. Spitzer ELECTION 2006 Roundup THE INSIDER favors a city payment. WINNERS ... Assembly Speaker Sheldon Silver: His conference grew as by Erik Engquist and Anne Michaud Mike’s press aide Democrats picked off Republican seats in Staten Island and Onondaga. Also, Silver-backed independent Tim Gordon snatched a gets BID job GOP seat near Albany and will caucus with the Democrats. mayor michael bloomberg’s Mr. Silver now controls over half of the Legislature and first deputy press secretary, Jennifer could choose a new comptroller if Alan Hevesi resigns. Advocates drive for wood bat funds Falk, is leaving City Hall after five Sen. Charles Schumer: He retained his title as the s the battle over a bill to ban years to become executive director biggest winner ever in a statewide vote (71.2% in 2004). of the Union Square Partnership, Eliot Spitzer pulled in 68.9%, and Sen. Hillary Rodham metal bats at city high school games the city’s oldest business Clinton picked up 66.5%. heats up, its sponsors are talking improvement district. Labor: The AFL-CIO made a big last-minute push for A Ms. Falk oversaw communica- Mr. Hevesi and other Democrats, mobilizing 11,825 newsbloomberg with the Yankees, the Mets and Major Charles Schumer League Baseball about contributing to a tions for Deputy Mayor Daniel volunteers on Election Day. Ed Ott at the Central Labor Doctoroff—the key strategist behind Council also orchestrated a major get-out-the-vote fund for wood bats to help offset the controversial West Side operation. their higher cost. stadium plan and a major figure in Staten Island Democrats: Councilman Michael Sponsors James Oddo, lower Manhattan’s redevelopment. McMahon and Assemblyman Michael Cusick are stronger R-Staten Island, and Lew Sources close to the administra- contenders for borough president in 2009, given the tion say that the partnership Fidler, D-Brooklyn, say party’s showing there. Janele Hyer-Spencer won a former approached Ms. Falk earlier this GOP Assembly seat, and underfunded Stephen Harrison metal bats are fall. She will leave her current post notched 43% against Rep. Vito Fossella. istockphoto dangerous because at the end of November and start Rep. Anthony Weiner: As a member of the House her new one Jan. 3. majority for the first time and a former whip for soon-to-be Anthony Weiner balls hit with them City Hall officials had no give pitchers less time Speaker Nancy Pelosi, he will be able to snare federal comment about a successor. money for New York City and tout his accomplishments in his expected run for to avoid getting beaned. Mr. Fidler says the bill has strong mayor in 2009. support in the council and will probably pass in December, but Building dispute John Hall: He leveraged Eliot Spitzer’s expected win into an endorsement he expects the industry to sue to stop the city from enforcing it. by leaders of the Satmar-dominated village of Kiryas Joel, which brought him Bat maker Easton-Bell Sports says metal bats impart the attracts big players several thousand votes. Their support provided the margin of victory as he same maximum force as wood bats. heavy hitters are lined up on defeated Republican Sue Kelly for a congressional seat in the northern both sides of a fight over tax breaks suburbs. 7.1% pay raise over two years. proposed for a diamond district Bloomberg-UFT Mr. Spitzer campaigned on building slated to rise between ... AND LOSERS wrench in works funneling billions of dollars to city West 46th and West 47th streets C. Virginia Fields: Rep. Charles Rangel’s pending ascension schools to settle the Campaign for and Fifth and Sixth avenues. to House Ways and Means chairman ensures that some members of Eliot Spitzer’s Fiscal Equity lawsuit over funding The builder, Extell Development he won’t retire anytime soon. Ms. Fields was in line team are furious with Mayor Michael inequities.The deal means that Co., has hired Suri Kasirer to lobby to run for his Harlem seat. Bloomberg over his pre-election more of the money will have to go for the project and George Arzt to 1199 SEIU: Eliot Spitzer’s huge margin of victory agreement with the United Federation toward salaries rather than to handle media.The coalition of deprives the powerful health care union of leverage as the of Teachers, which gives teachers a schools and students.The pact also landlords opposing Extell’s governor-elect looks to trim medical spending. State Senate Democrats: They picked up just one seat, assuming Andrea Stewart-Cousins’ win holds STAY IN HISTORIC LUXURY through the recount—a dismal performance, given that Democrats swept 275 state legislative seats nationally, C. Virginia Fields 1890 - 1900 - 1910 - 1920 - 1930 - 1940 - 1950 - 1960 - 1970 - 1980 - 1990 - 2006 giving them majorities in nine additional states. Former Sen. Alfonse D’Amato: He organized a last- minute push for Republican comptroller candidate Christopher Callaghan, who lost by 17 points. Sen. Nicholas Spano supporters: Many liberal groups crossed party lines, hoping for a winner in Mr. Spano, R-Westchester. They include Empire State Pride Agenda, Naral Pro-Choice New York and other pro-choice

groups, labor organizations and Democrats for Spano. news daily Rep. Tom Reynolds: Tainted by the intern scandal, the Alfonse D’Amato Buffalo-area congressman barely held his seat. As chairman of the House Republican Campaign Committee, he lost 28 seats.

application has hired lobbyist parent, SEIU. Several hundred more and consultant Fran Reiter and officers could follow soon. In 1950, “Guys and Dolls” opened on Broadway. communications firm Geto & de The deal foretells larger ones as That night, ecstatic theater goers discussed this Milly, led by Ethan Geto. the union pushes to organize the The political connections of all city’s 60,000 instant classic in the well established four run deep. Ms. Kasirer is one private classic—Martinique Hotel. of the city’s top lobbyists. Mr. security Arzt, who was press secretary for officers.The 530 luxurious guest rooms and suites and... former Mayor Ed Koch, is a local argues fixture in city politics. Ms. Reiter that wages a truly unique event space accommodating 10 - 500 was deputy mayor for economic and benefits development in the Giuliani are poor, administration, and Mr. Geto is a training is veteran Democratic activist and minimal and campaign operative. turnover is high. Many of 32BJ’s 3,000 Security officers ON THE FRONT LINES: security Union local 32BJ has officers earn make union deal enlisted 800 guards. ND 50% more 49 West 32 Street, New York, NY 10001 local 32bj has signed up 800 than their Telephone (212) 736-3800 Fax (212) 277-2703 Securitas/Burns officers across the nonunion counterparts.They also www.radisson.com/martinique city, a result of a global accord get health care, sick days and 40 between Securitas and 32BJ’s hours of training. ■

14 | Crain’s New York Business | November 13, 2006 Project1 11/10/06 10:11 PM Page 1 W EEK IN REV IEW

through its long-anticipated IPO. ECONOMIC SPOTLIGHT Aéropostale ax aéropostale inc. fired Chief Merchandising Officer Chris Fin- azzo.The retailer says he violated his employment agreement by fail- ing to disclose that he held a per- sonal stake in South Bay Apparel Inc., one of the firm’s top vendors. Verizon & YouTube verizon communications inc. is reportedly in talks with YouTube Inc. to offer the Web site’s videos on Verizon Wireless phones and the FiOS fiber-optic television service. CBS names NYT investor seeks changes digital chief MORGAN STANLEY INVESTMENT MANAGEMENT, one of The cbs corp. named Allen & Co. New York Times Co.’s largest shareholders, stepped up a investment banker Quincy Smith president of its CBS Interactive months-long campaign to get the publisher of THE NEW YORK unit, a new division merging the TIMES to change its governance policies. The fund, which company’s online and digital Economy Watch holds a 7.6% stake, wants the company to scrap its two- businesses. Mr. Smith succeeds In September, NYC’s jobless rate hit its lowest point since February 1988, dip- tiered stock structure to lessen the Sulzberger family’s con- Larry Kramer, former head of ping below the U.S. level. Area inflation posted its first drop since December. CBS Digital Media, who will stay trol. Morgan Stanley also wants to split up the roles of chair- on at CBS as an adviser. AUGUST ’06 SEPTEMBER ’06 COMPARISON man and publisher; Arthur Sulzberger Jr. holds both posts. NYC jobless rate 5.1% 4.5% 4.6%1 bloomberg newsbloomberg NYC employment change +3,200 +1,200 +61,4002 Record auction NY area inflation change +0.4% -0.5% +3.3%3 Corp. also is considering starting a christie’s international sold a Wall Street’s Chinese version of the site. record $491.5 million worth of 1-U.S. unemployment rate. 2-Change since December 2005. 3-Inflation rate for the latest artwork—including a Gustav Klimt 12-month period. bonus boost portrait of Adele Bloch-Bauer that wall street is expected to dole Seventeen editor went for $87.9 million—during its NYC Hotel Stats Broadway Stats out 10% to 15% more in bonuses steps down fall auction of Impressionist and In September, the average room rate In the week ended 11/5, indicators this year than it did in 2005, a modern art. Sotheby’s held the pre- climbed above $300 for the first slid for the first time in two months, report by executive compen- atoosa rubenstein, editor in vious record, selling $286 million time since December, PKF Con- The League of American Theatres sation consultant Johnson chief of Seventeen magazine in artwork during a 1990 auction. sulting reports. Occupancy also and Producers says. The season’s gain Associates says.The top five (left), is leaving her high-profile rose. For the first nine months, the in gross has risen to 7.6%; the atten- firms are expected to pay a position to write a book and averages were $247.80 and 84.1%. dance shortfall has shrunk to 3.2%. record $36 billion, 30% to launch a youth-oriented Morgan ends more than last year’s total. consulting firm and Web site. No replacement has Visa dispute been named. morgan stanley dropped a com- Prime guides plaint filed with the European primedia inc. an- Union against Visa after the credit nounced definitive plans Liz buys Kate card giant said the firm could join to spin off its Consumer liz claiborne inc. its European card network. Visa Source Inc. unit, which agreed to buy handbag had previously refused to admit produces Apartment and accessories firm Kate Morgan Stanley because the bank Guide and Auto Guide. Spade from Neiman runs rival card network Discover Each Primedia stock- Marcus for $124 mil- in the United States.

holder will receive a lion.The deal marks Liz

s e

share of Consumer g Claiborne’s first acquisition a NYSE job cuts m

Source common stock i under chief William McComb.

y

t

for every share of Pri- t nyse group inc. says it will cut

e Capital IQ’s Weekly Deals Report media common stock. g more than 500 jobs, or 17% of its S&W shutters staff, as it tries to pare $200 million TRANSACTION SIZE in expenses over the next two years. COMPANY (in millions) BUYER/INVESTOR TRANSACTION TYPE New York Park Avenue Café The reductions will eliminate Crystal River Capital Inc. $372.6 Not disclosed GCI smith & wollensky Restaurant duplication of services following Manhattan teachers’ contract Group Inc. plans to shut the Park NYSE’s acquisition of electronic NexCen Brands Inc., $78.0 Not disclosed SB M&A new york city and the United Avenue Café on Jan. 1 because it exchange Archipelago Holdings. mortgage-backed securities Manhattan Federation of Teachers tentatively was unable to negotiate a favorable —from staff reports and Eos Airlines $78.0 Not disclosed SB M&A agreed to a 24-month contract, lease. Closing the eatery will cost bloomberg news reports Purchase, N.Y. starting in October 2007, which as much as $800,000, said the firm, Medis Technologies Ltd. $50.0 Not disclosed GCI includes wage increases of more which will also sell the adjacent Manhattan than 7%. Union members will vote Park Avenue Café Townhouse. Lexington Strategic Asset Corp. $27.7 Lexington Corporate Properties Trust FB M&A Manhattan on the deal by January. Electro-Optical Sciences Inc. $13.2 Not disclosed GCI Irvington, N.Y. Wall Street IPOs Monitor110 Inc. $11.0 Draper Fisher Jurvetson, Draper Fisher GCI MySpace in Japan fortress investment group,a Manhattan Jurvetson Gotham, Acadia Woods Partners news corp. and Japan’s Softbank Manhattan-based hedge fund, filed Selected deals announced during the week of Oct. 29 for companies headquartered in metro New Corp. signed a 50-50 joint venture for an initial public offering, mark- York. FB M&A: Financial buyer M&A represents a minority or majority acquisition of existing shares of a company with the participation of a financial buyer. GCI: Growth capital investment to bring social networking Web ing the first such filing by a U.S. represents new money invested in a company for a minority stake. SB M&A: Strategic buyer site MySpace to Japan. Each com- hedge fund. It hopes to raise up to M&A represents a minority or majority acquisition of existing shares of a company without the participation of a financial buyer. pany will invest $5 million in the $750 million. … Keefe Bruyette & newsbloomberg jennifer chiu new company, MySpace KK. News Woods raised $142.8 million EXCHANGE RATE: NYSE will cut staff by 17%.

16 | Crain’s New York Business | November 13, 2006 © 20 06 FedEx.

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high gear, seeking scores of employ- tion. Venture investors even formed just two years, according to research Citigroup, BofA, ees to staff their high-net-worth di- an institution,Modern Bank,to sat- firm TNS. The New York area had others compete for visions. isfy the wishes of the wealthy. 62,000 of those households. Citigroup and Bank of America “Everybody is expanding their Bankers are putting their best multimillionaires; both plan to add more than a dozen private banks,” says Bippy Siegel, foot forward in their efforts to woo startup joins fray private bankers in 2007 to handle chairman of Modern Bank, which such customers. clients with more than $25 million to was launched this year and whose “Banks are trying to become invest. Deutsche Bank is sharply in- clients have an average net worth of trusted advisers, as opposed to pur- BY TOM FREDRICKSON creasing its staff, while UBS is re- $55 million. “The buzz phrase is veyors of products,” says Alan cruiting for a large center it recently ‘high net worth.’ ” Starkie, a partner specializing in k ennis c

serving the ultrawealthy has opened to cater to the niche. North- wealth management at recruitment bu More potential customers been a focus of New York’s financial ern Trust, a Chicago-based operator firm Knightsbridge Advisors. ALAN RAPPAPORT says that BofA will add institutions for years.But with com- of the largest trust bank in the coun- nationally, the number of house- To tap the booming multimil- teams to its Family Wealth Advisors group. petition heating up, local banks are try,expects to hire eight more staffers holds worth north of $5 million lionaire market, institutions have putting their hiring machinery into for its three-year-old New York loca- stood at 720,000 in 2005, up 14% in been paying top dollar to raid each other’s staffs for the limited number of seasoned private bankers.They’re being forced to fill some positions with inexperienced, newly minted M.B.A.’s or investment bankers. Institutions face stiff competi- tion from registered investment ad- visers and financial planners. These advisers are perceived to be more in- dependent than banks, which often push in-house investment products. To combat that view, banks are developing “open architecture” sys- tems so they can recommend any product to their customers. The common approach in the high-net-worth segment is to ap- point teams to handle all aspects of a client’s account. Experts assigned to a team provide a full range of trust services, estate planning and invest- ment advice,and loans for everything from “mortgages to Monets,” as Alan Rappaport,president of BofA’s Family Wealth Advisors group,puts it. The private bank typically gets the business after a “liquidity event,” such as a business sale,leads to a host of financial planning issues. Industry sources say Bank of America is the most active recruiter in the New York market. The bank has hired two teams in Manhattan since the group was set up last year. It is looking to double that number in the next year. “We should have and we will have more teams in New York,”Mr.Rappaport says.The unit accepts clients with $50 million or more in investable assets. Citigroup hiring citigroup expanded its Manhat- tan staff by about 15% this year to 30 private bankers and affiliated in- vestment professionals devoted to customers with $25 million or more. It intends to add about 20 profes- sionals in Manhattan next year, an increase of about 70%, says Richard Ditzio, head of Citi’s high-net- worth group. Foreign banks are jumping in, too.In July,Swiss bank UBS opened a private banking office in Manhat- tan, the first of about seven offices planned nationally. “It is one of the fastest-growing segments in our business,” says Frank Minerva, executive director of UBS Wealth Management. UBS’s 25,000-square-foot space houses 17 financial advisers and five private bankers who have gone through an in-house accreditation process at UBS.The space is only at 40% capacity. “We are recruiting fairly heavily,” Mr. Minerva says.

COMMENTS? [email protected]

18 | Crain’s New York Business | November 13, 2006 Business 24/7™

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are hoping it won’t go as poorly as part of the $650 million cost.When and performing arts library on Flat- Delays plague arts phase one—in which projects fell fund-raising fell woefully short, the bush Avenue, is being scaled back project to this point; behind schedule, compelling the city,which had set aside $50 million because the Brooklyn Public Library Bloomberg administration to dis- in 2001, was forced to kick in couldn’t afford to build the glam- growing batch of city patch a key operative to restore mo- $30 million more and install a new orous glass structure designed by mentum. administrator, Joseph Chan. celebrity architect Enrique Norton. chocolate makers The district, at the fringe of The new phase is being led by the The delay forced the city to downtown Brooklyn, is envisioned newly created Downtown Brooklyn change the site of another anchor,the hase two of the much- as a refuge for the borough’s arts or- Partnership headed by Mr. Chan, Theater for a New Audience, setting ballyhooed makeover of ganizations,which often get pushed who had worked with the city’s Eco- the Shakespearean venue back a year. peter maus the Brooklyn Academy from place to place by rising rents. nomic Development Corp. Meanwhile, a request for pro- CULTURAL CATALYST: Brooklyn Academy of of Music Cultural Dis- The groups themselves, however, His work is cut out for him.A sig- posals is to be issued soon for the Music has spawned an entire arts district. Ptrict has begun. People were expected to bear a significant nature element of the plan, a visual BAM district’s North site, which will include cultural, retail and open space, and housing. That step will come nearly two years after the re- HARBORSIDE FINANCIAL CENTER, JERSEY CITY, NJ quest for expressions of interest went out. It’s hoped that similar delays do not dog a grand public plaza planned for Flatbush Avenue just west of the BAM Opera House. A request for proposals was sent to six interested firms last month, and re- sponses are due next week. A final- ist is supposed to be chosen by the end of the year. Pressure to make progress is in- creasing.The remaining $75 million of city funding could be lost if Mr. Chan doesn’t spend it in the “When we needed to Bloomberg administration’s final three years. diversify our midtown —erik engquist Chocolate makers offices, a move to get tasting Harborside made every november, gobs of choco- latiers gather at the Metropolitan Pavilion in Manhattan for the perfect business sense.” Chocolate Show. They come from France,Switzerland,Germany,Bel- gium—and, increasingly, from the David Askren five boroughs. Managing Director, IXIS North America “We’re not especially trying to get New York companies,but it’s certain- For IXIS North America, finding an office location with quick access to ly a trend,” says Luce Abrate, project Manhattan was critical. But the firm also wanted to meet the needs of coordinator for the Chocolate Show. its business, employees and bottom line. IXIS found all it was looking Linda Villano, co-founder of for at Harborside Financial Center on the Jersey City waterfront. SerendipiTea in Long Island City, Queens, has been displaying her • A premier, class A office complex with a high-tech infrastructure. chocolate teas at the show for the • Just one, four-minute stop to downtown on the PATH train. past few years.“It’s the only show we participate in that’s open to the pub- • On-site garage parking, restaurants, fitness club, shops and luxury lic,” Ms. Villano says. Hyatt hotel. Vendors pay from $3,500 to • An award-winning and responsive property management team. $30,000 for a booth. Though most • Exceptional economic incentives and cost-effective rents. offer free samples to the attendees— who number as many as 30,000— When any company moves offices, it faces tough decisions. For IXIS they’re really there to sell chocolate North America, choosing the ideal location was easy with Harborside. and make impressions. For Jackie Jordan, owner and ex- To see why Harborside makes perfect sense for your business, ecutive chef of Divalicious Choco- contact Mack-Cali today. late! in Brooklyn, the payoff comes later.“It’s expensive for a merchant,” Ms. Jordan says. “But you get expo- sure to all the chocolate people in New York, so it’s perfect for us.” Di- valicious, which makes its own line of truffles, has a chocolate-fountain rental business and opened a choco- late café in Manhattan last year. Sid Chidiac,an artist in Kew Gar- dens, Queens, is skipping this year’s Harborside Financial Center, Jersey City, NJ 83,000 sq. ft. available for lease. show.A space for his work would cost nearly $4,000, and “that’s too expen- Contact: Christopher DeLorenzo, 201-986-1463 [email protected] Tom Savoca, 201-261-0359 [email protected] sive,” says Mr. Chidiac, who mixes www.harborsidefinancialcenter.com chocolate with fruit dye to create ed- ©2006 Mack-Cali ible “paintings” that start at $2,000. —hilary potkewitz

20 | Crain’s New York Business | November 13, 2006 G ROW ING A BU SINESS GUIDE “The people at this program understood what we were all about and sent us workers who were prescreened to our specifications.” —John Mullane, president Transcon International Inc., Page 32

INSIDE

Small Business Development Centers ------Page 22 Life is hard for New York Export Assistance ------Page 22 Advice and Education -Page 24 Business Improvement Districts ------Page 27 Assistance for Women entrepreneurs. This section and Minorities ------Page 30 Financial Assistance - - -Page 32 Human Resources ------Page 32 Utility Services ------Page 36 is designed to make it Local Development Corporations ------Page 37 Procurement Help ------Page 37 Chambers easier by providing listings of Commerce ------Page 38 of scores of agencies and Business Libraries ------Page 38 groups offering free advice,

Dog food maker Michelle Lewis grants, training and more. finds the mentor she needs Page 22

Jewelry designer Kendra Roberts learns business basics Page 24

Art warehouser John Mullane gets staffers with the right stuff Page 32

Clothing customizer Peter Hayles locates a microlender Page 34 punchstock

November 13, 2006 | Crain’s New York Business | 21 REP ORT G ROW ING A BU SINESS GUIDE

CENTER HELPS DOG FOOD MAKER Where owners find UNLEASH HER FULL POTENTIAL Mentoring, analysis, a cheering section MICHELLE LEWIS came up training, counseling with her entrepreneurial inspiration simply by following her nose. Small Business (718) 982-2560 E-mail: [email protected] “When I opened a can of Development Centers E-mail: [email protected] Web site: www.nyssbdc.org commercial dog food, the Web site: www.nyssbdc.org smell made me sick,” says ▼ MANHATTAN REGIONAL CENTER Ms. Lewis, a firm believer in Small business development centers provide ▼ FARMINGDALE STATE UNIVERSITY AT PACE UNIVERSITY the value of organic food. “I basic business counseling and management OF NEW YORK Address: 163 William St., 16th floor, talked to my vet and figured assistance to current and prospective business Address: 2350 Route 110, New York, NY 10038 owners. Entrepreneurs can get counseling Farmingdale, NY 11735 Contact: (212) 618-6655 out how to make dog food and training to resolve organizational, Contact: Lucille Wesnofske, director, E-mail: [email protected] with only natural ingredients. financial, marketing, production and (631) 420-2765 Web site: http://manhattan.nyssbdc.org That’s what I cooked for my technical issues. E-mail: [email protected] dog, Scooter Mae.” Web site: www.farmingdale.edu/sbdc ▼ ST. NICHOLAS ENTREPRENEURSHIP Ms. Lewis refined her ▼ BARUCH COLLEGE ASSISTANCE PROGRAM CENTER recipe over time with the Address: 55 Lexington Ave., ▼ HEMPSTEAD OUTREACH CENTER Address: 11 Catherine St., Suite 2-140, New York, NY 10010 Address: 269 Fulton Ave., Brooklyn, NY 11211 help of Scooter Mae, a Contact: Lendynette Pacheco, Hempstead, NY 11550 Contact: Jose Leon, (718) 388-5454, ext. 161 terrier-sheepdog mix. (646) 312-4790 Contact: Lloyd Clarke, assistant director, E-mail: [email protected] Eventually, friends insisted E-mail: lendynette_pacheco (516) 564-8672 Web site: www.stnicksnpc.org that she go commercial. @baruch.cuny.edu E-mail: [email protected] Two years ago, convinced ▼ Web site: www.nyssbdc.org Web site: www.farmingdale.edu/sbdc STONY BROOK UNIVERSITY/STATE that a lot of people shared UNIVERSITY OF NEW YORK her feeling that “what’s good ▼ BORICUA COLLEGE ▼ LAGUARDIA COMMUNITY COLLEGE Address: Harriman Hall, Room 109, Address: 8 Graham Ave., Address: 29-10 Thomson Ave., Room Stony Brook, NY 11794 for me is good for my dog,” Brooklyn, NY 11206 C916, Long Island City, NY 11101 Contact: Edward Fritz, (631) 632-9070 Ms. Lewis turned to the Contact: Angel Roman, Contact: Brian Gurski, interim director, E-mail: [email protected] Small Business (718) 963-4112, ext. 565 (718) 482-5303 Web site: www.stonybrook Development Center at E-mail: [email protected] E-mail: [email protected] .edu/smallbusiness buck ennis Boricua College’s Graham DOG STAR: Michelle Lewis and friend Web site: www.nyssbdc.org Web site: www.nyssbdc.org Center campus in Brooklyn. ▼ YORK COLLEGE ▼ COLLEGE OF STATEN ISLAND ▼ LEHMAN COLLEGE Address: 94-50 159th St., Room 5107, Thanks to the help of its Address: 2800 Victory Blvd., Bldg. 2A, Address: 250 Bedford Park Blvd. West, Jamaica, NY 11451 staffers, she now heads Scooter Foods, a manufacturer and distributor Room 300, Staten Island, NY 10314 Room 007, Bronx, NY 10468 Contact: Alfred Titone, (718) 262-2880 offering a line of all-natural dog foods in microwavable bowls, with a likeness Contact: Dean Balsamini, director, Contact: Clarence Stanley, (718) 960-8806 E-mail: [email protected] of Scooter Mae on the label. “I needed a mentor, and that’s what the center provided,” says Ms. Lewis. “When I was down, there was a lot of ‘Rah! Rah!’ enthusiastic support, and when I needed practical advice, they were there to point me in the right direction.” Making life easier overseas Boricua counselors helped Ms. Lewis analyze her market, which prompted her to include a tofu-and-vegetable choice in order to give owners a vegetarian option for their pets. They also assisted her in evaluating funding Export Assistance Web site: www.empire.state.ny.us loans are made through delegated options and understanding various health regulations. authority lenders that can provide Ms. Lewis, who has one full-time and four part-time employees, recently ▼ EXPORT-IMPORT BANK guaranteed working capital loans on a The following agencies provide technical OF THE UNITED STATES streamline basis. landed her first big customer, signing up a holistic pet shop in Manhattan. In information and financial assistance for Aids the export of U.S. goods and Contact: Thomas Cummings, addition, Scooter Foods’ products are featured on the room-service menus companies selling goods overseas. services by small and large companies (212) 809-2650 at two pet-friendly New York City hotels. through loan guarantees and export E-mail: [email protected] Last year, roughly 500 individuals received one-on-one help at the Boricua ▼ EMPIRE STATE DEVELOPMENT credit insurance, and working capital Web site: www.exim.gov center, and 1,000 people attended special workshops on a range of topics, Its International Division offers guarantee programs. Also provides including buying a franchise and taking advantage of opportunities for overseas trade leads, seminars on competitive fixed-rate financing for U.S. ▼ NEXCO practical and up-to-date exporting export sales. Reaches out to women- A business association that offers minorities. Around the city, eight publicly funded SBDCs provide individual techniques, free counseling, access owned and minority-owned businesses. monthly seminars to the international counseling, seminars and technical assistance to people who want to start or to state exhibits in overseas trade Its Working Capital Guarantee trade community on global issues, taking expand a business. shows, and early notice of overseas Program encourages lenders to make the mystery out of international trade. “Our clients come from all walks of life,” says Angel Roman, director of the projects. working capital loans to small and Contact: Gerri Cristantiello, executive Boricua SBDC. “We have recent immigrants, retirees, people who’ve made a Contact: Maureen Caldwell, medium-sized companies with export director, (877) 291-4901 lot of money and need help to make more, and people who have no business senior vice president, (212) 803-3700 potential. Loans are used to support E-mail: [email protected] JEAN ENDE E-mail: esdinternational working capital needs related to the Web site: www.nexco.org experience at all.” — @empire.state.ny.us export of U.S. goods and services. Most Continued on Page 24

22 | Crain’s New York Business | November 13, 2006 The right health insurance plan can help you lose unhealthy habits. And adopt some healthy ones. Quitting smoking and losing weight are just two ways your employees can improve their health and keep healthcare costs down. Empire’s 360º Health®1 has innovative programs that make results like these possible. It provides easy-to-use online tools such as MyHealth Record, which enables employees to create an electronic record of claims data, medical history and prescription drug information. And Hospital IQSM, which helps them locate the best hospital for their healthcare needs. With our plans, employees can take a more hands-on approach to their own health, so it’s no wonder over 90% of our members are satisfi ed.* After all, healthy—and empowered— employees are happy employees.

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Advice and Education Web site: www.bocnet.org ▼ GARMENT INDUSTRY processes and increase its bottom line. production efficiency. Its Fort Greene Fashion Group DEVELOPMENT CORP. ITAC’s team of engineers and other Contact: Stefanie Feldman, director provides entrepreneurial training and A nonprofit organization that manufacturing professionals provide a of sustainable business programs, These organizations and agencies provide networking opportunities for promotes the New York apparel variety of services to help firms optimize (212) 442-2990 technical, managerial or financial advice independent fashion designers. The industry, GIDC connects retailers, their space and maximize production E-mail: [email protected] and training to current or would-be business group meets monthly to participate in brands and designers with local factories efficiency. Web site: www.itac.org owners. workshops led by April Walker, an and works to increase the productivity Contact: Jane Tabachnick, business Its Technology Program assists accomplished designer and business and efficiency of New York City development manager, (212) 442-2990 technology firms in finding the ▼ THE BUSINESS COUNCIL owner, and to meet buyers, manufacturers. GIDC’s programs and E-mail: [email protected] resources they need to develop products, OF NEW YORK STATE INC. manufacturers, marketers and other services include technical assistance, Web site: www.itac.org commercialize technologies and locate Comprises more than 3,200 member people involved in the fashion industry. education and training for managers and Its Sustainable Business Program R&D funding. ITAC’s team will access companies, chambers of commerce and Contact: Valentina Montecinos, business workers, and sourcing, marketing and helps technology or manufacturing its network of academics, government industry associations. With the counselor, (718) 624-9115 personalized business consulting. businesses become sustainable over the resources and other professionals to help Chamber Alliance of New York State, it E-mail: [email protected] Contact: Sarah Crean, executive director, long haul by reducing waste, increasing innovative New York City firms that co-sponsors an annual “Small Business Web site: www.bocnet.org (212) 366-6160, ext. 111 efficiency and doing more with less. develop and adapt new technologies. Day,” when small business owners can E-mail: [email protected] ITAC’s team can assess a firm’s waste Contact: Jane Tabachnick, business meet with elected officials to discuss ▼ CAMBA ECONOMIC Web site: www.gidc.org streams and materials needs and provide development manager, (212) 442-2990 how to keep the economy strong. DEVELOPMENT CORP. a variety of options to help each E-mail: [email protected] Publishes two newsletters, The Human Its Small Business Services Program ▼ INDUSTRIAL AND TECHNOLOGY company reduce waste and optimize Continued on Page 26 Resource Line, which is sent monthly and offers services to assist small Brooklyn- ASSISTANCE CORP. covers labor-related trends, laws and based businesses. Services include a 60- Provides technical assistance to regulations, and bcnys.org, which is sent hour business strategy seminar, manufacturing and technology firms in bimonthly and covers current state individual business consultations, New York City to help them develop INSTITUTE TEACHES JEWELER activities and key issues affecting business plan reviews, a monthly money and optimize their competitive business. management and credit repair advantage. ITAC’s services are tailored TO WELD ARTS, BUSINESS SMARTS Contact: Janet Looby, manager of workshop, and microloans of up to to the individual needs of each client member relations, (800) 358-1202 $15,000. firm. Its practice areas include business Learning the language of banks, retailers E-mail: [email protected] Contact: Brian Singer, program manager, growth, lean manufacturing, operations Web site: www.bcnys.org (718) 282-2500, ext. 241 management, technology, workforce WHEN KENDRA ROBERTS E-mail: [email protected] development and sustainable business. started taking classes at the ▼ BUSINESS OUTREACH CENTER Web site: www.camba.org Contact: Jane Tabachnick, business Fashion Institute of NETWORK development manager, (212) 442-2990 Technology Enterprise Center Links small businesses with vital ▼ EMPIRE STATE DEVELOPMENT E-mail: [email protected] services and resources, free of charge. Its Entrepreneurial Assistance Web site: www.itac.org last year, her instructors The eight New York City centers serve Program provides training, technical Its Business Growth Program helps thought they were teaching multiethnic business communities assistance and support services to firms design a comprehensive plan for her the ins and outs of citywide. individuals who have recently started a business growth, and break it down into marketing, finance and Bronx: Hunts Point, (718) 842-8888 business in New York state or are individual steps to help them accomplish management. But as far as Brooklyn: North Brooklyn, interested in doing so. The program their goals. Once the business’s unique the jewelry designer was (718) 624-9115; South Brooklyn, helps them develop basic business goals are determined, ITAC’s network of concerned, she was learning (718) 253-5262 management skills, refine business professionals across a broad range of Manhattan: Chinatown, (212) 966-7328; concepts, devise early-stage marketing disciplines can delve into business a foreign tongue. Harlem, (212) 828-0082; Washington plans, prepare business plans and obtain operations and lend their expertise to “The art world and the Heights/Inwood, (212) 795-1600 financing. implement the client’s plans. business world speak two Staten Island: West Brighton, Contact: Joyce Smith, (212) 803-3234 Contact: Jane Tabachnick, business different languages,” says (718) 816-4775 E-mail: [email protected] development manager, (212) 442-2990 Ms. Roberts. “In art school, Newark: (973) 242-5562 Web site: www.empire.state.ny.us E-mail: [email protected] they don’t teach you how to Queens: Corona, (718) 205-3773 Web site: www.itac.org Contact: Nancy Carin, executive director, ▼ FASHION INSTITUTE OF TECHNOLOGY Its Lean Manufacturing Program calls make the translation.” (718) 624-9115 Its Enterprise Center offers a for removal of all unneeded activities Ms. Roberts turned to FIT E-mail: [email protected] selection of four-week entrepreneurial from the production process. ITAC can when she realized that her Web site: www.bocnet.org courses for artists, designers and fashion teach a firm to create a more efficient two years at art school had Its Child Care Business Development industry professionals (The Creative production line that moves more quickly left her totally unequipped to Project helps home-based child care Enterprise Ownership Program). The and easily, saving production time and write the business plan she providers obtain licenses, and start and center also offers certificate programs increasing profits. grow their business. Training programs in computer essentials for fashion Contact: Jane Tabachnick, business needed to get financing, let teach practical business skills, and one- design, Web design and graphic development manager, (212) 442-2990 alone talk delivery schedules on-one counseling provides targeted design, as well as courses in business E-mail: [email protected] and markups with retailers assistance on specific issues facing child applications such as Microsoft Office Web site: www.itac.org that she hoped to work with. care providers. Suite. Its Operations Management Program While Ms. Roberts had Contact: Roberta Cohen, project director, Contact: Chris Helm, (212) 217-7250 provides a comprehensive operations buck ennis done all right in the six years FINANCING THE STONES: Kendra Roberts (718) 624-9115 E-mail: [email protected] assessment and a plan of action for a since she left school by E-mail: [email protected] Web site: www.fitnyc.edu/enterprisecenter manufacturing business to improve its selling her work at trade shows and through her Web site, she dreamed of increasing production and Export Assistance purpose operators and seven subzones. U.S. exporters for overseas business getting her sophisticated turquoise jewelry into high-end boutiques and Contact: Ellen Nesheiwat, manager, trips, does overseas advertising of U.S. galleries. Ms. Roberts had to learn to communicate with bankers in order to (212) 435-4260 products and services, and finds agents, fund such an expansion. She also needed marketing instruction so that she Continued from Page 22 E-mail: [email protected] distributors and customers. Offers SBA could convince shop owners to take a chance on an unknown designer. ▼ PORT AUTHORITY OF NEW YORK Web site: www.portnynj.com and Ex-Im Bank export finance & NEW JERSEY programs. To get the help she needed, she turned to the FIT Creative Enterprise Responsible for the major airports, ▼ SUFFOLK COUNTY DEPARTMENT Contact: William Spitler, network Ownership Program, which offers classes geared to creative people who interstate tunnels, bridges, OF ECONOMIC DEVELOPMENT director, (212) 809-2675 want to enter the business world. Approximately 1,000 people a year attend transportation terminals and port AND WORKFORCE HOUSING E-mail: [email protected] the program’s workshops and seminars or sign up for one of the $135 four- facilities in New York and New Jersey, as Its Foreign Trade Division provides Web site: www.buyusa.gov/nyc week CEO courses. Topics include accounting for designers, how to design well as for the development of trade and trade counseling, financial help, multicultural fashion advertising, and selling to the children’s wear industry. commerce in the region. education and marketing programs, as ▼ U.S. SMALL BUSINESS Airport facilities: (212) 435-3772 well as access to international trade ADMINISTRATION “In addition to the classroom education, people in our program have an Port sales: (888) 767-8696 exhibitions for foreign-market product Its International Trade Assistance opportunity to have their work reviewed by our students, displayed in school Contact: Robert Gaffney, (888) 767-8696 entry and promotion. Program offers technical assistance fashion shows and sold at FIT sales attended by people from all parts of the E-mail: [email protected] Contact: Nick Anastasi, assistant to the (counseling and training) and financial art world,” says Christine Helm, program manager of the enterprise center. Web site: www.panynj.gov commissioner, (631) 853-4800 assistance to U.S. businesses looking to “They frequently form long-term mentor relationships with professionals in the Its Foreign Trade Zone No. 49 ranked E-mail: [email protected] enter or expand in foreign markets. fashion industry.” No. 1 in the country out of 256 foreign- Web site: www.suffolkcountyny.gov Exporters may get financing under three It wasn’t long before the courses paid off for Ms. Roberts. In the past year, trade zones for value of foreign programs: Export Express, the Export merchandise received during fiscal year ▼ U.S. DEPARTMENT OF COMMERCE Working Capital Program and the she managed to quintuple her revenues to $25,000. She hopes soon to quit 2005. The zone handled $3.9 billion in INTERNATIONAL TRADE International Trade Loan Program. her day job at a hedge fund and devote herself full-time to her company, merchandise received in general purpose ADMINISTRATION Contact: Herbert Austin, deputy district Kendra Studio Jewelry. zones and a total of $17.3 billion for Its U.S. Export Assistance Center director, (212) 264-1482 —JEAN ENDE both general-purpose operators and provides information, opportunities and E-mail: [email protected] subzones. FTZ 49 has six general- regulations on foreign markets. Prepares Web site: www.sba.gov/oit

24 | Crain’s New York Business | November 13, 2006 Right where Your Small Business needs us.

Growing a business takes hard work – and a bank that works with you. North Fork Bank has the solutions Your Small Business needs to succeed: I Loans, lines of credit, merchant processing and other banking services I Checking, money market and savings accounts I Cash management services – including an online cash management suite I Investments, insurance and retirement services* I Equipment finance services PARTNERS – NOT JUST BANKERS. Working with North Fork also gives you something more – the services of a North Fork banker who’s committed to finding out where you want your business to go, and then developing a strategy for getting you there.

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Right where Your Small Business needs us. To learn more, speak to a North Fork Bank representative today. Stop by any North Fork Bank branch, visit www.northforkbank.com or call 877-694-9111. REP ORT G ROW ING A BU SINESS GUIDE

Advice and Education ▼ LONG ISLAND ASSOCIATION legislators about Long Island’s small agencies to assist businesses that suffer Contact: Dial 311 and ask for NYC Works to create and retain balanced business community issues. The council physical damage during natural and Business Solutions economic activity and jobs in a clean, provides services and business seminars man-made disasters. Web site: www.nyc.gov/smallbiz Continued from Page 24 healthy and safe environment in order as well as many networking Contact: Bernadette Nation, director, Web site: www.itac.org to improve Long Island as a place to opportunities. (212) 618-8810 ▼ NEW YORK CITY OFFICE live, work and do business. It also offers Contact: Lauren Hill, (631) 493-3050 E-mail: [email protected] OF THE COMPTROLLER ▼ LDC OF EAST NEW YORK a variety of programs, including E-mail: [email protected] Web site: www.nyc.gov/smallbiz Its Citizen Action Center helps small Its Brooklyn Enterprise Center executive breakfasts featuring Web site: www.longislandassociation.org Its New York City Business Solutions businesses that want to know more provides support services for prominent business and government Program provides free, comprehensive about city services or regulations, entrepreneurs in the startup or leaders, and seminars on business ▼ NEW YORK CITY DEPARTMENT and reliable assistance for doing answers questions about contracts, expansion phase of their small issues. OF SMALL BUSINESS SERVICES business in all corners of the city. Its procurement policy or claims against the business. Services include classroom Contact: Gary Wojtas, (631) 493-3020 Its Business Outreach Team & services include connecting city, and helps solve any problem related training, workshops, seminars, E-mail: [email protected] Emergency Response Unit provides entrepreneurs to capital and incentives, to New York City government or conferences and one-on-one business Web site: www.longislandassociation.org assistance by sending agents directly to assisting startups, cutting the red tape of services. counseling. Some services provided Its Small Business Council, one of 12 business locations. It helps businesses navigating government, helping firms Contact: Carmen Martinez, director, in Spanish. LIA committees, represents small resolve problems involving delivery of compete for contracts and recruiting, (212) 669-3916 Contact: Laura Sanzel, director, business community interests before government services and business- and training workers for businesses, in E-mail: [email protected] (718) 385-6700, ext. 18 government and helps develop the LIA’s related issues. The Emergency Response addition to providing individualized Web site: www.comptroller.nyc.gov E-mail: [email protected] legislative agenda. The council makes an Unit works with the Office of one-on-one counseling for a wide Web site: www.ldceny.org annual trip to Albany to speak with Emergency Management and other city variety of issues. ▼ NEW YORK STATE GOVERNOR’S OFFICE OF REGULATORY REFORM Helps to grow private-sector jobs through sensible regulation and permit assistance. Input on regulatory reform is critical and is actively solicited from © 2006 Continental Airlines, Inc. individuals, businesses, nonprofits and local governments being regulated. Contact: Tim Beadnell, (518) 486-3292 E-mail: [email protected] Web site: www.nys-opal.com Its Business Permit Unit provides individualized assistance in identifying and obtaining the business licenses and FLYING ANOTHER permits the state requires to open or expand a business. GORR’s Web site provides a comprehensive database of more than 1,200 business permits organized in over 400 business types. AIRLINE? Contact: Kathleen Davidson, supervisor, Permit Assistance Unit, (518) 474-8275 E-mail: [email protected] Web site: www.nys-opal.com

▼ NEW YORK STATE OFFICE OF SCIENCE, TECHNOLOGY AND ACADEMIC RESEARCH Its Centers for Advanced Technology Program comprises 15 state-designated GOOD LUCK WITH THAT. CATs, each focused on a particular technological field, that work to develop new technologies and improve existing ones. The CAT program has supported university-industry collaboration in research, education and technology transfer, with a strong focus on helping New York businesses gain a We don’t mean to put down other airlines. We just feel you deserve more. technological edge on their competition. That’s why, unlike the other guys, Continental hasn’t cut back on amenities Its Regional Technology Development like pillows, blankets and meals at mealtime. We don’t think these Centers, located in each of the state’s 10 designated economic development things should be too much to expect from your airline. They do. regions, provide direct technical and For reservations and information, go to continental.com consulting assistance to technology- and or call 1-800-523-FARE. manufacturing-based businesses. The centers offer entrepreneurial and business assistance, technical improvement assistance, financing and venture capital information, and information on state and federal productivity and research grants. Contact: James Denn, (518) 292-5700 E-mail: [email protected] Web site: www.nystar.state.ny.us

▼ PARTNERSHIP FOR NEW YORK CITY An organization made up of business leaders from the city’s top corporate, investment and entrepreneurial firms. Its mission is to enhance the economic well-being of the city. Contact: (212) 493-7400 Web site: www.pfnyc.org Its New York City Investment Fund is a private fund that invests in businesses and nonprofits that promote the local economy. Contact: (212) 493-7400 Web site: www.nycif.org

▼ QUEENS ECONOMIC Work Hard. DEVELOPMENT CORP. A one-stop resource center for businesses and the federally Fly Right. ® designated agency for economic development in the county, QEDC provides a spectrum of services to existing businesses, entrepreneurs and

26 | Crain’s New York Business | November 13, 2006 REP ORT G ROW ING A BU SINESS GUIDE Bids to make local conditions better

Business Improvement ▼ MOSHOLU-JEROME-EAST GUN HILL Web site: www.camba.org E-mail: [email protected] (347) 992-3682 Districts ROAD DISTRICT MANAGEMENT ASSOC. Web site: www.grandstbklyn.com E-mail: [email protected] Contact: Roberto S. Garcia, executive ▼ DUMBO IMPROVEMENT DISTRICT Web site: www.pitkinbid.org director, (718) 324-4946 Contact: Tucker Reed, executive director, ▼ METROTECH The BID program of the city’s Department E-mail: [email protected] (718) 237-8700 Contact: Michael Weiss, executive ▼ SUNSET PARK/FIFTH AVENUE of Small Business Services delivers assistance Web site: www.mpcbronx.org E-mail: [email protected] director, (718) 488-8200 Contact: Renée Giordano, executive on matters such as sanitation and Web site: www.dumbonyc.org E-mail: [email protected] director, (718) 439-7767 maintenance, public safety and visitor ▼ WHITE PLAINS ROAD Web site: www.metrotechbid.org E-mail: [email protected] services, marketing and promotional Contact: Lawrence Prospect, executive ▼ EAST BROOKLYN Web site: www.sunsetparkbid.org programs, capital improvements and director, (718) 881-3086 Contact: Bill Wilkins, (718) 385-6700, ▼ MONTAGUE STREET beautification to enhance local business E-mail: [email protected] ext. 19 Contact: Chelsea Mauldin, executive ▼ WOODHULL DMA/GRAHAM AVENUE conditions. Web site: www.pelhamparkway.com E-mail: [email protected] director, (718) 522-3649 Contact: Betty M. Cooney, executive Web site: www.eastbrooklynbid.org E-mail: [email protected] director, (718) 387-6643 THE BRONX BROOKLYN Web site: www.montaguebid.com E-mail: [email protected] ▼ FORDHAM ROAD ▼ 86TH ST. BAY RIDGE ▼ FLATBUSH AVENUE Contact: Wilma Alonso, executive Contact: Patrick W.Condren, executive Contact: Jack Katz, executive director, ▼ MYRTLE AVENUE MANHATTAN director, (718) 562-2104 director, (718) 680-2420 (718) 859-2600 BROOKLYN PARTNERSHIP ▼ 34TH STREET PARTNERSHIP E-mail: [email protected] E-mail: [email protected] Web site: www.flatbushavebid.com Contact: Michael Blaise Backer, executive Contact: (212) 719-3434 Web site: www.86bid.org director, (718) 230-1689 E-mail: [email protected] ▼ HUB THIRD AVENUE ▼ FULTON MALL IMPROVEMENT E-mail: [email protected] Web site: www.34thstreet.org Contact: Vincent Valentino, executive ▼ BRIGHTON BEACH ASSOCIATION Web site: www.myrtleavenue.org director, (718) 665-3983 Contact: Yelena Makhnin, executive Contact: Michael Weiss, executive ▼ 47TH STREET E-mail: [email protected] director, (718) 934-1908 director, (718) 852-5118 ▼ NORTH FLATBUSH Contact: Doreen Greenidge, executive E-mail: [email protected] E-mail: [email protected] Contact: Mirvlyne Brice, executive director, (212) 302-5739 ▼ KINGSBRIDGE Web site: www.brightonbeachbid.org Web site: www.fultonstreet.org director, (718) 783-1685 E-mail: [email protected] Contact: Katherine L. Broihier, E-mail: [email protected] Web site: www.diamonddistrict.org district manager, ▼ CHURCH AVENUE ▼ GRAND STREET DISTRICT Web site: www.nfbid.com (718) 432-6935 Contact: Mark Dicus, BID manager, MANAGEMENT ASSOCIATION ▼ 125TH STREET E-mail: [email protected] (718) 282-2500 Contact: Max Javier, manager, ▼ PITKIN AVENUE Contact: Barbara Askins, president/ Web site: www.kingsbridgebid.org E-mail: [email protected] (718) 218-8836 Contact: Larry Fowler, executive director, Continued on Page 28

Advice and Education ▼ SCORE, COUNSELORS TO AMERICA’S resource partners, the organization increase opportunities for all small with revenues in excess of $2 million SMALL BUSINESS provides one-on-one business businesses in the federal acquisition a year. Groups meet monthly to A not-for-profit volunteer association counseling and training for startup and process. promote professional and personal neighborhood commercial centers of businesspeople who provide counsel- existing small businesses. Contact: Georgia Ellis, (212) 264-4322 development. There are 61 chapters to expand, create or attract business ing on how to start a business and offer Contact: (212) 264-9487 E-mail: [email protected] nationwide and in Canada. Members are through the delivery of hands-on help to existing small businesses with Web site: www.sba.gov Web site: www.sba.gov invited to participate in an annual technical, informational or various aspects of their operations, Its Business Development Program conference. neighborhood development including marketing, financing, assists economically and socially ▼ WOMEN PRESIDENTS’ ORGANIZATION Contact: Marsha Firestone, assistance. production, personnel and admin- disadvantaged small business owners in The organization offers peer (212) 688-4114 Contact: Spencer Ferdinand, executive istration. Walk-in service is available. obtaining federal government set-aside advisory groups for women chief E-mail: [email protected] director, (718) 263-0546 Contact: Martin R. Lehman, marketing contracts. The agency also works to executives and presidents of companies Web site: www.womenpresidentsorg.com E-mail: [email protected] director, (212) 264-4507 Web site: www.queensny.org E-mail: [email protected] Its Entrepreneurial Assistance Web site: www.scorenyc.org Program provides a 10-week, 60-hour training course and technical assistance ▼ SOUTH BRONX OVERALL ECONOMIC to entrepreneurs who wish to pursue DEVELOPMENT CORP. self-employment to start their Its Entrepreneurial Assistance businesses by completing a professional Program offers comprehensive business business plan. QEDC’s primary service training for new entrepreneurs, as well as area is Queens, but services are available for existing business owners. Also offers to all residents of New York City.This office space to startup companies at classroom curriculum is designed to SoBRO’s Venture Center, a small teach the entrepreneur the essentials of business incubator that provides on-site business development. business training and technical What’s Your Hurry? Contact: Demica Durr, program manager, assistance. (718) 263-0546 Contact: Ericka Powell, director, E-mail: [email protected] (718) 732-7534 Stop running to your bank by 3 pm! Web site: www.queensny.org E-mail: [email protected] Its Program for Investment in Micro Web site: www.sobro.org ■ Enterprise provides training and Its New York City Industrial Business Deposits Credited Up to 6 pm technical assistance to low-income, Zone Program monitors the Industrial disadvantaged entrepreneurs wishing to Park for New York City and reports any ■ Deposit Today pursue self-employment to start, problems confronting businesses. Assists operate or expand their businesses. businesses in any communication with Draw on it Tomorrow Although the micro-enterprise city agencies. program’s primary service area is Contact: Peggy E. Mason, director, ■ Open Early, Open Late, Open 7 Days Queens, services are available to all (718) 732-7537 residents of New York City. E-mail: [email protected] Contact: Paisley Demby, director of Web site: www.sobro.org ■ Totally FREE Business Checking business services, (718) 263-0546, ext. 18 E-mail: [email protected] ▼ SUFFOLK COUNTY DEPARTMENT Web site: www.queensny.org OF ECONOMIC DEVELOPMENT Call Greg Braca at 1-888-751-9000 or visit your local store. AND WORKFORCE HOUSING Helps business owners obtain public GROWING A BUSINESS GUIDE and private financing; provides individualized counseling and technical These listings were compiled by Denise Southwood, Adrianne Pasquarelli and business assistance, access to Whitney West. government contract information and training seminars. 400+ convenient locations throughout Organizations were asked to provide Contact: Carolyn Fahey, Metro New York, Metro Philadelphia, Metro Washington, DC and Southeast Florida information if they were listed last year or if intergovernmental relations coordinator, they contacted Crain’s requesting inclusion. commerceonline.com (631) 853-4800 Some entries were edited for length. E-mail: Organizations that would like to appear in [email protected] “Highest in Customer Satisfaction with Retail Banking in New York” — J.D. Power and Associates the next guide should e-mail descriptions Web site: www.suffolkcountyny.gov Commerce Bank received the highest numerical score among retail banks in the New York metropolitan area in the proprietary J.D. Power and Associates 2006 Retail Banking Satisfaction that follow the guide format. Information StudySM. Study based responses from 3,881 New York metropolitan area households measuring 18 providers and measures opinions of consumers with their primary banking provider. ▼ U.S. SMALL BUSINESS Proprietary study results are based on experiences and perceptions of consumers surveyed in October and November 2005. Your experiences may vary. Visit jdpower.com/cc. can be e-mailed to Denise Southwood at Restrictions may apply for next-day availability, please see deposit account rules for details. Business Checking includes up to 300 transactions per month. Member FDIC [email protected] ADMINISTRATION Working through a broad network of

November 13, 2006 | Crain’s New York Business | 27 REP ORT G ROW ING A BU SINESS GUIDE

Business Improvement Web site: www.bryantpark.org ▼ FASHION CENTER chief executive, (212) 883-2420 (212) 861-2055 Districts Contact: Barbara Blair Randall, executive E-mail: [email protected] E-mail: [email protected] ▼ COLUMBUS AVENUE director, (212) 764-9600 Web site: www.grandcentral Web site: www.madisonavenuebid.org Contact: Barbara Adler, executive E-mail: [email protected] partnership.org Continued from Page 27 director, (212) 721-5048 Web site: www.fashioncenter.com ▼ NOHO NY chief executive, (212) 662-8999 E-mail: [email protected] ▼ LINCOLN SQUARE Contact: Harriet Fields, executive E-mail: [email protected] Web site: www.columbusavenuebid.org ▼ FIFTH AVENUE Contact: Monica Blum, president, director, (212) 677-4579 Web site: www.125thstreetbid.com Contact: Tom Cusick, president, (212) 581-3774 E-mail: [email protected] ▼ COLUMBUS/AMSTERDAM (212) 246-6256 E-mail: [email protected] Web site: www.nohony.org ▼ ALLIANCE FOR DOWNTOWN NEW Contact: Peter Arndtsen, (212) 666-9774 E-mail: [email protected] Web site: www.lincolnbid.org YORK INC. E-mail: info@columbus-amsterdam ▼ TIMES SQUARE ALLIANCE Contact: Bruce Brodoff, director of public -bid.org ▼ FLATIRON/23RD STREET ▼ LOWER EAST SIDE Contact: Tim Tompkins, president, affairs, (212) 835-2770 Web site: www.columbus-amsterdam PARTNERSHIP DISTRICT MANAGEMENT (212) 768-1560 E-mail: [email protected] -bid.org Contact: Jennifer Brown, executive ASSOCIATION E-mail: [email protected] Web site: www.downtownny.com director, (212) 741-2323 Contact: Dara Lehon, (212) 226-9010 Web site: www.timessquarenyc.org ▼ EAST MIDTOWN ASSOCIATION E-mail: [email protected] E-mail: [email protected] ▼ BRYANT PARK MANAGEMENT CORP. Contact: Rob Byrnes, president, Web site: www.flatironbid.org Web site: www.lowereastsideny.com ▼ UNION SQUARE PARTNERSHIP Contact: Daniel A. Biederman, president, (212) 813-0030 Contact: Joseph Tango, director of (212) 768-4242 E-mail: [email protected] ▼ GRAND CENTRAL PARTNERSHIP ▼ MADISON AVENUE operations, (212) 460-1200 E-mail: [email protected] Web site: www.eastmidtown.org Contact: Alfred C. Cerullo III, president/ Contact: Matthew Bauer, president, E-mail: [email protected] Web site: www.unionsquarenyc.org

▼ VILLAGE ALLIANCE Contact: Honi Klein, executive director, (212) 777-2173 E-mail: [email protected] Web site: www.villagealliance.org

▼ WASHINGTON HEIGHTS DISTRICT MANAGEMENT ASSOCIATION INC. Contact: George Sanchez, executive director, (212) 928-3400 E-mail: [email protected] QUEENS ▼ 82ND STREET Contact: Ernest Cury, president, (718) 335-9421 E-mail: [email protected]

Nearly 80% of employees ▼ 165TH STREET MALL IMPROVEMENT ASSOCIATION Contact: Derek Irby, executive director, are very concerned about (718) 298-5489 E-mail: [email protected] * rising commuting costs. ▼ 180TH STREET Contact: Derek Irby, executive director, (718) 298-5489 E-mail: [email protected]

▼ DOWNTOWN FLUSHING So what are you doing to help? TRANSIT HUB Contact: Mabel Law, executive director, (718) 888-1805 E-mail: [email protected] Web site: www.flushingbid.com

▼ JAMAICA CENTER IMPROVEMENT ASSOCIATION Contact: Janet Barkan, executive director, (718) 526-2422 E-mail: [email protected]

▼ LONG ISLAND CITY Contact: Andrew Ebenstein, operations manager, (718) 786-5300 E-mail: [email protected] Web site: www.licbid.org ▼ Give your employees TransitChek, the money-saving tax-free commuter benefits program. MYRTLE AVENUE Contact: Theodore M. Renz, executive Employees are increasingly concerned about rising commuting costs. Companies are concerned, too, about wage director, (718) 381-7974 inflation and employee attrition that commuting costs can cause. Now, there's a simple and effective solution for E-mail: [email protected] everyone:TransitChek tax-free commuter benefits programs. Employees can save up to $1,300 a year or more** ▼ STEINWAY STREET DISTRICT in commuting costs. Companies can save thousands of dollars in payroll taxes, too. Plus,TransitChek Programs are MANAGEMENT ASSOCIATION easy to implement, easy to administer, easy to use — and they're IRS approved. What can you do to help drive Contact: Marie Torniali, executive down rising commuting costs? Call TransitChek today to find out. director, (718) 721-8252 E-mail: [email protected] Want to know more? Get the results of “The 2006 Commuter Impact Survey” FREE at www.transitcenter.com. ▼ SUTPHIN BOULEVARD Or call 1.866.521.CHEK (2435). Contact: Melva Miller, executive director, (718) 291-2110 * According to the 2006 Commuter Impact Survey, 76% of human resource decision makers surveyed believe their companies’ employees are extremely or very concerned about rising fuel/commuting costs. E-mail: [email protected] ** Based on annual salary of $35,000. Employee tax savings include: Federal, State and Local Income Tax, Social Security and Medicare. Annual savings of up to $500 or more based on the Web site: www.sutphinblvdbid.org maximum $105 monthly deduction allowed for mass transit. Annual savings of $1,300 or more based on pretax deduction maximum of $105/month for mass transit and $205/month for commuter parking. Lower deductible may result in smaller savings. Individual savings may vary. Calculations based on 2006 Federal Income Tax rates. Consult your task advisor. ▼ WOODHAVEN Contact: Maria A.Thomson, executive director, (718) 805-0760 E-mail: [email protected] STATEN ISLAND ▼ FOREST AVENUE Contact: Susan Meeker, executive www.transitcenter.com ©2006 TransitCenter.All rights reserved. director, (718) 816-4775 E-mail: [email protected] Web site: www.wbcldc.org

28 | Crain’s New York Business | November 13, 2006 Today’s Aetna

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New York and northern New Jersey businesses can increase productivity and reduce health insurance costs by integrating Medical, Pharmacy, Dental, and Disability benefits from Aetna. You’ll enjoy the simplicity and savings of getting benefits from a single source. And your employees will benefit from our outreach programs and top-rated online resources* to help them better manage their health conditions, outcomes, and spending. For the health of your employees and the health of your business, contact your broker or Aetna representative at 1-800-MY-HEALTH.

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business training, one-on-one counseling and financing resources to help women entrepreneurs start and Groups help the underserved grow their businesses. Services are offered in English, Spanish and Russian. Assistance for Women and professional support to help small and women-owned businesses in South with starting and expanding small Brooklyn: North Brooklyn, and Minorities business owners develop marketing and Bronx community boards 1, 2, 3, 4, 7, 8, businesses. The program offers (718) 624-9115 financial strategies. It also organizes 11 and 12. Provides loans of up to entrepreneurial training, one-on-one Staten Island: West Brighton, frequent trade missions to China to $20,000 for a 48-month term for business counseling and access to (718) 816-4775 The following organizations offer programs, assist businesses with accessing the equipment or inventory purchase and microloans of up to $15,000 at Contact: Rosalinda Martinez, program counseling and other assistance specific to Chinese market. working capital. subsidized interest rates. These services director, (718) 624-9115 women-owned and minority-owned Contact: John Wang, (212) 966-0100 Contact: Rome Birkett, (718) 537-5261 are delivered by culturally appropriate E-mail: [email protected] businesses. E-mail: [email protected] E-mail: [email protected] staff in the languages of the Web site: www.bocnet.org Web site: www.aabdc.com Web site: www.boedc.com communities served. ▼ ASIAN AMERICAN BUSINESS Contact: Mercedes Gomez, assistant ▼ CATALYST DEVELOPMENT CENTER ▼ BRONX OVERALL ECONOMIC ▼ BUSINESS OUTREACH CENTER director, (718) 624-9115 Research and advisory organization A nonprofit consulting firm that DEVELOPMENT CORP. NETWORK E-mail: [email protected] working with businesses and the works with Asian-American business Its Springboard Mini Loan Fund offers Its Refugee Microenterprise Program Web site: www.bocnet.org professions to build inclusive owners. The center provides technical startup financing to small, minority- assists eligible refugees and asylees Its Women’s Business Center offers environments and expand opportunities for women at work. As an independent, nonprofit organization, Catalyst conducts research on all aspects of women’s career advancement and provides strategic and Web-based consulting services globally. Contact: Serena Fong, senior associate, communications and public affairs, (212) 514-7600 E-mail: [email protected] Web site: www.catalyst.org

▼ EMPIRE STATE DEVELOPMENT Its Division of Minority and Women’s Business Development certifies businesses as minority-owned or women-owned, and provides technical assistance and capital assistance to agencies, businesses and others involved in government contracting and procurement. Contact: Jorge Vidro, (212) 803-2414 E-mail: [email protected] Web site: www.empire.state.ny.us

▼ THE NATIONAL ASSOCIATION OF WOMEN BUSINESS OWNERS, NEW YORK CITY CHAPTER Provides networking opportunities, business seminars, advocacy, strategic alliances and leadership development. Inspires and empowers women entrepreneurs, and promotes and supports the growth of women-owned firms in New York. Contact: Kethrin Gentile, vice president, communications, (212) 252-1100 E-mail: [email protected] Web site: www.nawbonyc.org

▼ NEW YORK AND NEW JERSEY MINORITY SUPPLIER DEVELOPMENT COUNCIL INC. Established in 1973 to grow minority-owned businesses, the council acts as a liaison between its Fortune 500 membership and minority businesses to develop contracting opportunities. The 2006 Consolidated Edison Company of New York, Inc. Ad: UniWorld Group, Inc. Photos: John Pinderhughes council has additional services and © programs that offer results for corporations and MBEs alike, including business opportunity fairs, networking events, training and corporate and Meredith McRoberts, President & CEO, McRoberts Protective Agency, Inc.; Alejandro Perez, Vice-President, El Toro Exterminator; vendor directories. Winston Currie, President, Swift Contracting Contact: Lynda Ireland, president, (212) 502-5663 E-mail: [email protected] ConEdisonIsONIT– Web site: www.nynjmsdc.org ▼ NEW YORK CITY DEPARTMENT OF And We’ve Got Company. SMALL BUSINESS SERVICES Its Minority- and Women-Owned In fact, more than 300 companies in and around New York do business with Con Edison Business Enterprise Program is designed to encourage participation of minority- through our Supplier Diversity Program. Entrepreneurs like these who partner with Con Edison and women-owned businesses in New become the economic engines that keep New York on the move. York City’s procurement process. To participate in the certification program, firms must be at least 51% owned, You could be one of them. Con Edison. ON IT. operated and controlled by a minority or a woman, must be located or conduct business in New York City, and must have been in business for a minimum of Visit www.conEd.com/supplierdiversity or call Joy Crichlow, Director, one year. ConEdisonSupplierDiversityProgramat212-460-3076. Contact: Certification Hotline, www.conEd.com (212) 513-6311 E-mail: [email protected] Web site: www.nyc.gov/getcertified

30 | Crain’s New York Business | November 13, 2006 REP ORT G ROW ING A BU SINESS GUIDE

Assistance for Women City, especially women, minorities and educational programs to women repayment terms. and Minorities immigrants. Renaissance Economic entrepreneurs in New York, New Jersey, Contact: Bette Yee, program director, GROWING A BUSINESS GUIDE Development Corp. provides a Connecticut, Maryland, Virginia and (212) 563-0499 These listings were compiled by Denise combination of affordable small business Washington, D.C. E-mail: [email protected] Southwood, Adrianne Pasquarelli and ▼ OPPORTUNITY DEVELOPMENT loans and technical assistance to help Contact: Marsha Firestone, Web site: www.womensventurefund.org Whitney West. ASSOCIATION startups and grow existing businesses. (212) 688-4114 Organizations were asked to provide Minority Business Development Contact: E-mail: ▼ THE WORKSHOP IN BUSINESS Its Business Counselor, certification information if they were listed last year or if Center offers contract procurement, loan (212) 964-6022 @womenpresidentsorg.com OPPORTUNITIES they contacted Crain’s requesting inclusion. packaging, bank and alternative E-mail: [email protected] Web site: www.wpeo.us Enables small business owners Some entries were edited for length. financing, business plan preparation, Web site: www.renaissance-ny.org and budding entrepreneurs in Organizations that would like to appear in ▼ GIS analysis, 8(a) certification and WOMEN’S VENTURE FUND underserved communities to obtain the next guide should e-mail descriptions general business consulting. Assistance ▼ WOMEN PRESIDENTS’ EDUCATIONAL A nonprofit agency that serves all financial success in starting, operating, that follow the guide format. Information is provided to all types of companies, ORGANIZATION women entrepreneurs, new and and expanding successful businesses. can be e-mailed to Denise Southwood at including construction contractors, A regional affiliate of the Women’s seasoned, through experimental skill- The Workshop in Business [email protected] manufacturers, service providers and Business Enterprise National Council, building curricula, using innovative Opportunities offers a 16-week product distributors. or WBENC, the nation’s premier course delivery methods. Existing workshop titled “How to Build a Contact: Devorah Charnas, third-party certification organization New York metro and New Jersey Growing Profitable Business,” one-on- Contact: Candice M. Isaac, (718) 522-5620 for women-owned businesses with 51% businesses with 51% female ownership one consulting services conducted by (212) 684-0854, ext. 0541 E-mail: [email protected] ownership and U.S. citizenship. WPEO are eligible for character-based, low- business experts, and a wealth of E-mail: [email protected] Web site: www.odabdc.org provides certification and offers interest microloans with flexible business opportunities. Web site: www.wibo.org

▼ QUEENS ECONOMIC DEVELOPMENT CORP. Its Women’s Business Center is a not-for-profit business consulting and technical assistance organization. The primary service area is Queens, but services are available to all residents of New York City. Services provided include library and Internet access, consultation with a business advisory group, certification, procurement assistance, credit counseling, business coaching, and a series of entrepreneurial training workshops given on a monthly basis. Contact: Elizabeth Perdomo, (718) 263-0546, ext. 10 E-mail: [email protected] Web site: www.queenswomen.org

▼ REGIONAL ALLIANCE FOR SMALL CONTRACTORS INC. A nonprofit organization serving small, minority-owned and women- owned construction firms. Contact: Earle J. Walker, executive director, (212) 268-7446 E-mail: [email protected] Web site: www.regional-alliance.org Its Financing Small Contractors Program provides help in preparing applications for loans and bonds. These services are normally given to firms that contract with or participate in business development programs underwritten by RASC alliance partners. The program has assisted firms in accessing $25 million in loans. Contact: (212) 268-2991 E-mail: [email protected] Web site: www.regional-alliance.org Its Loaned Executive Assistance Program is a consultant service comprising top construction professionals who provide small contractors with expert advice on construction and business management, marketing and technology implementation, and loan and bonding referrals. Contact: Richard Hellenbrecht, (212) 268-0391 E-mail: [email protected] Web site: www.regional-alliance.org Its Managing Growth Program is an intensive training program made up of more than 30 business and construction management training classes taught by senior construction executives. Contact: Paola Camargo, manager of training programs, (212) 268-4933 E-mail: [email protected] Web site: www.regional-alliance.org Its MBE/WBE Compliance Services Program increases the participation of minorities and women on major, large-scale private- and public-sector construction projects. Contact: Earle J. Walker, executive director, (212) 268-7446 E-mail: [email protected] Web site: www.regional-alliance.org

▼ RENAISSANCE ECONOMIC DEVELOPMENT CORP. A nonprofit organization that assists entrepreneurs throughout New York

November 13, 2006 | Crain’s New York Business | 31 REP ORT G ROW ING A BU SINESS GUIDE Connecting Tapping the potential firms with of employee ranks Human Resources program focuses on creating and personnel policies, build staff skills and retaining private-sector jobs as well as comply with employment regulations. on promoting economic growth Contact: Jane Tabachnick, business The following organizations offer employee throughout the state. Also offers one- development manager, (212) 442-2990 needed funds training and recruitment, in some cases with stop shopping at regional offices for its E-mail: [email protected] tax breaks.They can also provide research economic development programs. Web site: www.itac.org Financial Assistance E-mail: [email protected] and counseling on human resources issues. Contact: Eileen Mason, (212) 803-3200 Web site: www.boedc.com E-mail: [email protected] ▼ NEW YORK CITY DEPARTMENT ▼ BRONX OVERALL ECONOMIC Web site: www.empire.state.ny.us OF SMALL BUSINESS SERVICES The following organizations provide ▼ BRONX OVERALL ECONOMIC DEVELOPMENT CORP. Its Hiring and Training Program works financial assistance or incentives to firms DEVELOPMENT CORP. Its Bronx Business Solutions Center’s ▼ INDUSTRIAL AND TECHNOLOGY with businesses of all sizes across all five that are based in or are relocating to the New Provides funding to businesses Bronx at Work Initiative matches Bronx ASSISTANCE CORP. boroughs to provide customized York area. relocating to or expanding in the Bronx. employees with prescreened employment Its Workforce Development Program recruitment, screening and training of As administrator of the federal Bronx candidates and helps employers take helps manufacturing and technology job candidates. ▼ ACCIÓN NEW YORK Empowerment Zone, it offers two types advantage of tax breaks for hiring local firms boost their productivity, increase Contact: Cristina Shapiro, assistant A community financial institution of low-interest loans. The Business residents. Free services are provided one- staff expertise and professionalize commissioner for hiring and training, providing loans of up to $50,000 with Assistance Initiative lends up to on-one and via the Web. human resource operations. ITAC’s (212) 618-6782 flexible requirements. Owners are given $1 million for up to half of a project’s Contact: Dionne Binns, (718) 960-7988 human resource experts can help a firm E-mail: [email protected] the opportunity to build solid credit cost. The E-Z Loan Fund finances up to E-mail: [email protected] recruit management personnel, develop Web site: www.nyc.gov/smallbiz histories and can access free financial 80% of project costs, in amounts of up to Web site: www.thebronxatwork.com advisory services through the Training, $200,000. Resource and Advising Center Contact: Steven Rodriguez, ▼ BUSINESS COUNCIL (OnTRAC). It also offers startup loans Empowerment Zone co-director, OF WESTCHESTER TAILORED STAFFING SATISFIES and lines of credit. (718) 590-3527 Its Human Resources Council is a net- Contact: Loan Inquiry Line, E-mail: [email protected] work of human resources professionals ART-WAREHOUSING COMPANY (212) 387-0494 Web site: www.boedc.com providing information to each other as E-mail: [email protected] Its Bronx Initiative for Energy & the well as to other council members. Also Matching firms, workers boosts Bronx Web site: www.accionnewyork.org Environment has established the Bronx works on wage and salary surveys and Environmental Revolving Loan Fund, workforce recruitment and retention. THE MANAGER of the Bronx ▼ BRONX INITIATIVE CORP. which offers loans of $10,000 to Contact: Marsha Gordon, (914) 948-2110 Business Solutions Center Provides low-cost, long-term SBA $100,000 for implementation of energy E-mail: [email protected] has a two-pronged message 504 loans statewide, ranging from efficiency measures and environmental Web site: www.westchesterny.org for executives at all of the $50,000 to $1.5 million ($2 million in technologies. The Electric companies interested in economically deprived areas), for Transportation Grants Program makes ▼ EMPIRE STATE DEVELOPMENT purchase of machinery and equipment, grants of $5,000 to $100,000 to Its Economic Development Skills doing business in the land improvements, construction and promote electric and hybrid Training Program provides matching borough. Steven Rodriguez real estate. transportation projects. BIEE also funds for programs to build the skill wants them to feel welcome Contact: Madeline Marquez, executive administers the EZ (Empowerment levels of employees or to prepare them to make money in the director, (718) 590-3980 Continued on Page 34 for newly created jobs. The training Bronx—and also to feel obligated to boost employment there. “Businesses shouldn’t just parachute in and bring people and resources from outside,” says Mr. Rodriguez. “We want them to subcontract to Bronx firms, buy from Bronx suppliers and hire Bronx workers.” The center—an arm of the Bronx Overall Economic Development Corp., funded in part by the New York City “Webster has been Department of Small Busi- ness Services—administers buck ennis a great partner to us.” The Bronx At Work, an BOX BOOM: John Mullane initiative designed to attract business to the borough and find the staffers that local businesses need. Last year, the program placed workers in 120 positions and generated many more jobs indirectly. Companies are invited to list job vacancies with The Bronx At Work, which tries to match those positions with job seekers listed in its database. The Bronx At Work also offers an array of training programs. Staffers at the Harvey Diamond of Drive Medical explains, “We could have gone with many other banks but the service and level business solutions center coordinate with large employers to help them find of interest at Webster was far greater. They are responsive, supportive and committed to helping us grow.” small Bronx-based firms to supply everything from security services to At Webster Business Credit, we provide customized asset-based lending services, financing for retailers and cash transportation; at the same time, staffers help small local firms find management services that best meet your company’s financial needs. As Mr. Diamond says, “We needed a bank that was going to support us and work with us.” This is how Webster develops trust and grows businesses. opportunities to bid for work. Officials at Transcon International Inc., a firm that moves and stores See why we’ve earned our reputation as a leading provider of financing to the middle market. Contact Warren Mino, President, at 212-806-4501 or [email protected] or visit us at Websterbcc.com. artwork and antiques, heard Mr. Rodriguez’s message loud and clear. Three years ago, with business growing rapidly, Transcon purchased a six-story Pictured from left to right: Jeff Schwartz, Executive VP; Harvey Diamond, President and CEO; Richard Kolodny, Executive VP building in the Bronx to serve as a warehouse. To find contractors to restore the facility, Transcon turned to the solutions center. Once the work was completed, the firm went back in search of SM Business Credit staffers; it eventually hired six workers whom the center recommended. Twelve months later, they are still on the job. Websterbcc.com “In the past, we’ve sometimes hired 10 people and wound up with one

10/06 that worked out and stayed with us,” says John Mullane, Transcon’s presi- New York Boston Hartford Atlanta Chicago Memphis Charlotte Dallas dent. “But the people at this program understood what we were all about and Webster Business Credit Corporation is a subsidiary of Webster Bank, N.A. Member FDIC. Equal Housing Lender. The Webster Symbol and Webster Business Credit are sent us workers who were prescreened to our specifications.” —JEAN ENDE service marks of Webster Financial Corporation. Webster is registered in the U.S. Patent and Trademark Office.

32 | Crain’s New York Business | November 13, 2006 DR. LYNNE PERRY-BÖTTINGER Clinical and Interventional Cardiologist NewYork-Presbyterian Hospital GHI Participating Physician and one of New York Magazine’s DR. JOSEPH ZUCKERMAN “Best Doctors” Professor and Chairman Department of Orthopedic Surgery NYU Hospital for Joint Diseases GHI Participating Physician DR. DAVID ROSENSTREICH and one of New York Magazine’s Chief, Division of Allergy “Best Doctors” and Immunology Montefi ore Medical Center GHI Participating Physician and one of New York Magazine’s “Best Doctors”

BRIAN Computer Technician Brooklyn, New York

Many of the fi nest physicians and most respected medical institutions are affi liated with the GHI health plan. In fact, the majority of New York Magazine’s “Best Doctors” are in GHI’s physician network. So, should someone like Brian ever need specialty care, it’s comforting to know that such accomplished doctors are close at hand. GHI provides health insurance exclusively to businesses in New York State, and access to more than 140,000 provider locations in the tri-state network. Every employer wants top-quality health coverage at an affordable price. To compare GHI’s credentials and costs for your company, call 1-800-COVERAGE or visit us at ghi.com. Specializing in Great Doctors REP ORT G ROW ING A BU SINESS GUIDE

Financial Assistance growth capital for qualified innovative the loan limits to more than Manhattan, or in the other four Its Relocation and Employment technology-based businesses. $1.5 million. Closing takes place within boroughs. Application must be filed Assistance Program is an annual credit Investments (debt and equity) range 30 to 60 days of application date. within 180 days of the commencement applied toward business tax liabilities for Continued from Page 32 from $50,000 to $500,000 and have a Its Empire State Certified of the lease. businesses that relocate from outside the Zone) Environmental Fund, which 3-to-1 matching funds requirement. Development Corp. provides secondary Contact: (212) 361-6705 city or from south of 96th Street in offers grants of up to $100,000 to EZ Priority is given to companies in low-cost, long-term financing for the E-mail: [email protected] Manhattan to anywhere else in the city. businesses that have received an EZ economically hard-hit regions. purchase of capital asset equipment and Web site: www.nyc.gov/finance Contact: Mona Sidarous, (212) 361-7174 loan. These grants will cover the Contact: Jeff Wetherbee, (518) 292-5134 real property. ESCDC provides long- Its Commercial Revitalization Program E-mail: [email protected] incremental costs of installing either a E-mail: [email protected] term, fixed-rate second-mortgage is a partial real property tax abatement Web site: www.nyc.gov/finance green roof or solar panels. Web site: www.empire.state.ny.us money for expanding businesses. Funds for tenants that directly lease space in Contact: Kate Shackford, director, are accessed through the SBA’s 504 loan nonresidential or mixed-used premises ▼ NEW YORK CITY DEPARTMENT OF (718) 590-3498 ▼ HOUSING PARTNERSHIP program, in conjunction with built before 1975 and located in lower SMALL BUSINESS SERVICES E-mail: [email protected] DEVELOPMENT CORP. conventional bank first-mortgage Manhattan. Application must be filed Its Access to Capital Program Web site: www.boedc.com Its Affordable Housing Partnership money, to provide up to 90% of the within 180 days of the commencement provides free and comprehensive Program promotes affordable housing project costs; loan amounts range from of the lease. assistance for existing businesses and ▼ BUSINESS OUTREACH and revitalization of neighborhoods $1.5 million for standard loans to Contact: (212) 361-6705 startups looking for capital to grow. It CENTER NETWORK through community and economic $4 million for manufacturing loans. E-mail: [email protected] also helps businesses work out their Its BOC Capital Corp. Small Business development promoted by dynamic Contact: Chet Sadowski, senior vice Web site: www.nyc.gov/finance financials, fine-tune their business plans Loan Fund offers small business loans of public and private partnerships. president, (212) 803-3674 Its Industrial and Commercial Incentive and prepare loan applications for a wide up to $35,000. In addition to traditional Contact: Daniel E. Martin, president, E-mail: [email protected] Program is a partial real property tax variety of mainstream and alternative term loans, BOC Capital offers a (646) 217-3372 Web site: www.nybdc.com exemption or abatement of taxes for lenders throughout the city. flexible, order-based loan product E-mail: [email protected] owners of industrial or commercial Contact: Jeremy Waldrup, director of NYC enabling entrepreneurs to fill existing Web site: www.housingpartnership.com ▼ NEW YORK CITY CAPITAL buildings that are constructed, Business Solutions, (212) 618-8716 orders and use the proceeds to pay the RESOURCE CORP. rehabilitated, expanded, or otherwise E-mail: [email protected] loan in full. The corporation also offers ▼ LONG ISLAND DEVELOPMENT CORP. & Through its Loan Enhanced physically improved. Application must be Web site: www.nyc.gov/smallbiz ongoing pre- and post-loan business GREATER NEW YORK DEVELOPMENT CO. Assistance Program, CRC can make made before receipt of the first building Its Avenue NYC: Commercial development assistance. Direct loans include SBA 504 long- direct loans to qualified not-for-profit permit and the start of construction. Revitalization Program helps Contact: Hector Davis, lending officer, term second mortgage financing for institutions that are expanding or Contact: (212) 361-6705 communities strengthen commercial (718) 624-9115 purchase, construction or renovation of improving services in New York City. E-mail: [email protected] districts through revitalization planning, E-mail: [email protected] buildings and machinery; low-rate loans Qualifying borrowers include 501(c)(3) Web site: www.nyc.gov/finance Continued on Page 36 Web site: www.bocnet.org for defense diversification, fisheries, organizations. Eligible projects include software and other targeted industries; purchase, construction, renovation and ▼ COMMUNITY PARTNERSHIP and loans for women- and minority- equipping of facilities primarily for the DEVELOPMENT CORP. owned businesses and Hempstead borrower’s own use and/or, under certain CLOTHES, AND A LOAN OR TWO, Promotes development of affordable companies. Free counseling to obtain circumstances, reimbursement or housing, and expands opportunities for government and private-sector contracts. refinancing of existing debt used to fund MAKE THE ENTREPRENEUR local residents and businesses to For small businesses on Long Island. a capital expense. Borrowers work with participate in and benefit from Contact: Roslyn Goldmacher, president/ participating lending institutions. Business plan prep, funding give a leg up community economic development. chief executive, (516) 433-5000 Contact: (212) 312-3600 Provides loans and technical assistance E-mail: [email protected] E-mail: [email protected] PEOPLE WHO WALK AROUND to nonprofit and for-profit developers of Web site: www.lidc.org Web site: www.nycedc.com town decked out in caps, affordable housing. sneakers and jeans Contact: Daniel E. Martin, president, ▼ NEW YORK BUSINESS ▼ NEW YORK CITY DEPARTMENT encrusted with jewels (646) 217-3372 DEVELOPMENT CORP. OF FINANCE generally get noticed. Just E-mail: [email protected] A privately owned corporation that Its Commercial Expansion Program Web site: www.housingpartnership.com works closely with partner banks to offers a partial real property tax ask Peter Hayles. For two make business loans. Interest rates are abatement for tenants that directly lease years, he has acted as a ▼ EMPIRE STATE DEVELOPMENT fixed. Loans range from $50,000 to space in nonresidential or mixed-used walking billboard for his line Its Small Business Technology $1.5 million. In many cases, NYBDC parcels in areas zoned C4, C5, C6, M1, of customized clothing. Investment Fund offers first-stage and partners with banks in order to increase M2 or M3 north of 96th Street in “Every day, I wear something I’ve made just to put my ideas out there,” says Mr. Hayles, who produces his line, Bonyfi Clothing, in his home in Jamaica, Queens. Often, the best investment advice is about what not to buy. “People get blown away and follow me to my car asking how they can order my stuff.” He often customizes apparel and accessories that his patrons already own, spelling out their names in crystals on their backpacks or jackets. He also fills orders to outfit club employees and entertainers. buck ennis To meet the demand that JEWEL CASE: Peter Hayles he’s tirelessly generating, Mr. Hayles wanted to purchase special machinery and eventually open his own shop. Unfortunately, when he started looking for funding, traditional bankers wouldn’t go near him because he didn’t have an extensive credit history. In January, determined to succeed, Mr. Hayles turned to the Program for Investment in Micro Enterprise run by the Queens Economic Development Corp. The Prime program helps low-income entrepreneurs with less-than- perfect credit ratings or inadequate collateral to get the loans they need. Warren Buffett – “Our agency has close relationships with traditional lenders, microlenders Chairman, Berkshire Hathaway Owner, CORT Furniture Rental and special community loan programs,” says Paisley Demby, director of business services for QEDC. “We review clients’ situations to determine where they have the best chance of getting a loan, and we’ll help them take the steps necessary to qualify for these programs.” Last year, the organization helped arrange five microloans totaling If you look closely at your office furniture, you’ll probably notice, among other things, that it doesn’t appreciate. So buying isn’t always the best idea. In fact, renting is not only often tax deductible, it also frees up cash flow, $140,000. Since QEDC staffers believe that in many cases, lack of capital is which can be useful. For instance, you could buy other companies, as I did with CORT for Berkshire Hathaway. just one of several reasons that a business isn’t successful, the agency also After all, CORT rents only quality office and residential furniture. Their service is extraordinary. They deliver and offers technical assistance, both one-on-one and in small classes.

install orders within 48 hours. Considering its rather large upside, I give CORT a very strong recommendation. A BERKSHIRE HATHAWAY COMPANY Mr. Hayles spent several months working with a mentor, attending classes and learning how to write a business plan. The Prime program helped him MANHATTAN FARMINGDALE locate a lender. He recently submitted an application that’s as polished as 711 Third Avenue 1644 Route 110 the crystals on his cap to request a $5,000 loan. Mr. Hayles and his adviser CORT1.COM 212-867-2800 631-420-5802 are confident that the loan will soon be approved. —JEAN ENDE

34 | Crain’s New York Business | November 13, 2006 “Installed disco floor to boost office morale.” –Elaine Barker, business owner

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Utility Services ▼ KEYSPAN E-mail: [email protected] Contact: Lynn Roberts, (212) 513-6345 The parent company of KeySpan Web site: www.keyspanenergy.com E-mail: [email protected] Energy Delivery. KeySpan is interested The company’s principal gas Web site: www.nyc.gov/smallbiz The following is a list of companies that in attracting new businesses to its service subsidiary, KeySpan Energy Delivery, has Under its Lower Manhattan Energy provide utility programs, incentives and territories on Long Island and in the economic development programs for Program, renovated commercial office benefits to small businesses looking to expand New York City area, and offers businesses planning to expand or buildings in lower Manhattan and their or relocate within the five boroughs of New numerous incentives. In addition, relocate in the company’s service commercial tenants may be eligible to York City. KeySpan offers many energy programs territory in Brooklyn, Staten Island and receive reductions in energy costs. to assist its customers. Queens. Companies can get commercial Benefits are for eight years, followed by ▼ CONSOLIDATED EDISON CO. Contact: Domenic Abbatiello, director, and industrial space, discounted gas a four-year phaseout. OF NEW YORK economic development, rates, loans, letters of credit and loan Contact: Jim Topping, (212) 618-8729 Offers incentives to encourage (516) 545-3873 guarantees, loan packaging and E-mail: [email protected] business creation in New York City and E-mail: [email protected] partnerships, and grants. Web site: www.nyc.gov/smallbiz Westchester County. Its economic Web site: www.keyspanenergy.com Contact: Domenic Abbatiello, director, development programs provide reduced Its Economic Development Gas Rate economic development, (516) 545-3873 ▼ NEW YORK STATE ENERGY RESEARCH electric and gas rates for expansion and Program reduces natural gas costs for E-mail: [email protected] AND DEVELOPMENT AUTHORITY relocation. commercial and industrial customers in Web site: www.keyspanenergy.com Provides energy-related assistance to Bronx/Westchester: James Hartwick, its service territories in Brooklyn, New York state residents, businesses and (914) 925-6459 Queens and Staten Island and on Long ▼ NEW YORK CITY DEPARTMENT OF institutions to promote energy efficiency Brooklyn: Stuart Leffler, (718) 802-5004 Island. Applicants must be in a state- SMALL BUSINESS SERVICES and economic development, and Manhattan: Lisa Frigand, (212) 460-2830 designated Empire Zone and present a Its Energy Cost Savings Program sponsors energy research and Queens: Andrew Manger, (718) 961-5948 certificate of eligibility from the state reduces regulated energy costs for development programs. Current and Staten Island: Frank Pentecost, Department of Economic industrial and commercial firms that upcoming funding opportunities are (718) 390-6380 Development. If outside an Empire relocate or renovate. Firms must file an listed on Nyserda’s Web site. Contact: Alan M. Freedman, director, Zone, they must meet certain application prior to executing a lease or Contact: Nyserda Consumer Information public affairs, (845) 577-2922 qualifications. contract of sale. Firms occupying space Line, (866) NYSERDA E-mail: [email protected] Contact: Victor Vientos, manager, NYC within a premise that has been renovated E-mail: [email protected] Web site: www.coned.com economic development, (718) 982-7416 may also be eligible for ECSP benefits. Web site: www.nyserda.org

Financial Assistance facilities in the Empowerment Zone. ▼ SOUTH BRONX OVERALL ECONOMIC Borrowers must must create and/or retain DEVELOPMENT CORP. jobs in New York City. Its Port Morris Empire Zone Program Continued from Page 34 Its Not-for-Profit Bond Program assists businesses in receiving Empire business improvement district planning, enables 501(c)(3) organizations Zone certification and informs them of all storefront and streetscape purchasing, developing, renovating or tax benefit incentives and how to apply. improvements, real estate development, equipping facilities for their own use to Contact: Peggy E. Mason, director, business attraction and retention, and access triple-tax exempt bond financing (718) 732-7537 pilot promotion. CR projects enhance and, in some cases, mortgage recording E-mail: [email protected] districts by stimulating private invest- tax reduction. Pooled bond structures to Web site: www.sobro.org ments, reducing vacancies, improving reduce costs are also available for not- the commercial environment and for-profit borrowers. ▼ THE UPPER MANHATTAN increasing profits for local businesses. Its Small Industry Incentive Program EMPOWERMENT ZONE DEVELOPMENT Contact: George Glatter, (212) 513-6442 provides qualifying industrial companies CORP. E-mail: [email protected] with real estate tax deductions, mortgage Businesses in or expanding into the Web site: www.nyc.gov/smallbiz recording tax waivers and sales tax Empowerment Zone (which includes Its Empire Zones Program encourages exemptions on the purchase of materials Harlem, East Harlem, Manhattanville, capital investment and job growth used to construct, renovate or equip Washington Heights and Inwood) are through incentives to new and expanding facilities for their own use. eligible for government-financed loans firms.These include wage, investment Contact: (212) 312-3600 and a number of federal tax deductions and property tax credits, state sales tax E-mail: [email protected] and credits. Construction in the zone can exemption, utility discounts and low- Web site: www.nycedc.com be financed by tax-free bonds. interest rate loans.To qualify, a business Contact: Paul Quintero, senior vice must be located within an Empire Zone, ▼ NEW YORK STATE BANKING president, (212) 410-0030, ext. 204 and make new fixed-asset investments or DEPARTMENT E-mail: [email protected] create new jobs. Has listings of governmental and Web site: www.umez.org Contact: Lee Miller, director, private-sector financial assistance Its Business Resource & Investment (212) 618-8863 programs as well as technical assistance Service Center makes loans of between E-mail: [email protected] programs available on its Web site, under $50,000 and $250,000 to businesses Web site: www.nyc.gov/smallbiz the “Small Business Directory” section. north of 96th Street in Manhattan, and Contact: Adam Rabiner, director of provides technical assistance, business ▼ NEW YORK CITY ECONOMIC financial education, (212) 709-1695 counseling and pro bono legal services. DEVELOPMENT CORP. E-mail: [email protected] Contact: Ellingston Clark, senior loan Its Commercial Incentives for Lower Web site: www.banking.state.ny.us officer, (212) 410-0030, ext. 272 Manhattan Program offers savings for E-mail: [email protected] businesses relocating or recommitting to ▼ OVERSEAS PRIVATE Web site: www.umez.org lower Manhattan.They include commer- INVESTMENT CORP. cial rent tax savings, sales tax savings, A federal agency that provides up to ▼ U.S. SMALL BUSINESS expanded Relocation and Employment $250 million in long-term financing ADMINISTRATION Assistance Program benefits and World and/or political risk insurance to eligible Its Financial Assistance Program is Trade Center rent reductions. U.S. companies investing in over 150 the nation’s largest single backer of small Its New York City Capital Access emerging markets and developing business loans. Guarantees loans of up Program supports the ability of countries. to $4 million. participating lending institutions to Contact: Information Officer, Contact: Ronald Goldstein, assistant make loans ranging from $1,500 to (202) 336-8799 district director, (212) 264-4321 $1 million to eligible New York City- E-mail: [email protected] E-mail: [email protected] based commercial, industrial and retail Web site: www.opic.gov Web site: www.sba.gov enterprises, service providers and nonprofit corporations. ▼ QUEENS ECONOMIC ▼ WASHINGTON HEIGHTS AND INWOOD Contact: (212) 312-3600 DEVELOPMENT CORP. DEVELOPMENT CORP. E-mail: [email protected] Its Program for Investment in Micro Its BO$$ Business Development Loan Web site: www.nycedc.com Enterprise provides training, technical Program provides direct loans of up to and financial assistance to low-income, $25,000 to community-based ▼ NEW YORK CITY INDUSTRIAL disadvantaged entrepreneurs wishing to businesses, primarily in upper DEVELOPMENT AGENCY start or expand a business. Helps clients Manhattan. Makes loans of up to Its Bond Program issues tax-exempt by reviewing each case to determine $50,000 in partnership with other bonds to finance capital projects of which lending sources are appropriate. lenders. $2 million or more. Qualifying borrowers Contact: Paisley Demby, director of Contact: Dennis Reeder, executive include owners/developers of manu- business services, (718) 263-0546, ext. 18 director, (212) 795-1600 facturing, solid waste recycling and E-mail: [email protected] E-mail: [email protected] nonprofit facilities and developers of Web site: www.queensny.org Web site: www.whidc.org

36 | Crain’s New York Business | November 13, 2006 REP ORT G ROW ING A BU SINESS GUIDE

▼ HUNTERS POINT COMMUNITY DEVELOPMENT CORP. Contact: Terri Adams, president, (718) 786-9245 Support at the local level ▼ LONG ISLAND CITY BUSINESS DEVELOPMENT CORP. Local Development Contact: Neil Pariser, senior vice ▼ FLATBUSH DEVELOPMENT CORP. ▼ UNION SQUARE PARTNERSHIP Contact: Dan Miner, Corporations president, (718) 292-3113 Contact: Catherine Hickey, (718) 859-3800 Contact: (212) 460-1200 (718) 786-5300, ext. 27 E-mail: [email protected] E-mail: [email protected] E-mail: [email protected] E-mail: [email protected] Web site: www.sobro.org Web site: www.unionsquarenyc.org Web site: www.licbdc.org Though their services vary widely, local ▼ GOWANUS CANAL COMMUNITY development corporations generally help BROOKLYN DEVELOPMENT CORP. ▼ UPPER MANHATTAN EMPOWERMENT ▼ QUEENS ECONOMIC businesses prepare loans, find real estate and ▼ ASTELLA DEVELOPMENT CORP. Contact: Tom Chardavoyne, ZONE DEVELOPMENT CORP. DEVELOPMENT CORP. deal with government agencies.These Contact: Judi Orlando, executive director, (718) 858-0557 Contact: Paul Quintero, senior vice Contact: Spencer Ferdinand, executive organizations also offer marketing support, (718) 266-4653 E-mail: [email protected] president for business investments, director, (718) 263-0546 energy analysis and security surveys. E-mail: [email protected] Web site: www.gowanus.org (212) 410-0030, ext. 204 E-mail: [email protected] Web site: www.astelladevelopment.org E-mail: [email protected] Web site: www.queensny.org BRONX ▼ MYRTLE AVENUE BROOKLYN Web site: www.umez.org ▼ BANANA KELLY COMMUNITY ▼ ATLANTIC AVENUE ASSOCIATION PARTNERSHIP ▼ RIDGEWOOD IMPROVEMENT ASSOCIATION Contact: Ian Kelley, president, Contact: Michael Blaise Backer, executive ▼ VALLEY RESTORATION Contact: Theodore M. Renz, executive Contact: Steve Carter, director of (718) 875-8993 director, (718) 230-1689 Contact: Lillian Rydell, executive director, (718) 366-3806 operations, (718) 328-1064 E-mail: [email protected] E-mail: [email protected] director, (212) 222-2600 E-mail: [email protected] E-mail: [email protected] Web site: www.atlanticave.org Web site: www.myrtleavenue.org E-mail: [email protected] Web site: www.ridgewood-ny.com Web site: www.bkcia.org ▼ BROOKLYN ECONOMIC ▼ SOUTH BROOKLYN ▼ WASHINGTON HEIGHTS AND INWOOD ▼ ROCKAWAY DEVELOPMENT & ▼ BATHGATE INDUSTRIAL PARK DEVELOPMENT CORP. Contact: Bette Stoltz, executive director, DEVELOPMENT CORP. REVITALIZATION CORP. Contact: Angel Caballero, executive Contact: James E. Sanford, director of (718) 852-0328 Contact: Dennis Reeder, Contact: Kevin Alexander, executive director, (718) 901-1977 community development, E-mail: [email protected] (212) 795-1600 director, (718) 327-5300 E-mail: [email protected] (718) 522-4600, ext. 30 E-mail: [email protected] E-mail: [email protected] Web site: www.bldconline.org E-mail: [email protected] ▼ SOUTHWEST BROOKLYN INDUSTRIAL Web site: www.whidc.org Web site: www.rdrc.org Web site: www.bedc.org DEVELOPMENT CORP. ▼ BELMONT ARTHUR AVENUE Contact: Christopher Shepard, QUEENS STATEN ISLAND Contact: Consolato Joe Cicciu, ▼ CROWN HEIGHTS (718) 965-3100, ext. 106 ▼ ASTORIA RESTORATION ASSOCIATION ▼ DOWNTOWN STATEN ISLAND COUNCIL (718) 295-2882 Contact: Caple G. Spence, executive E-mail: [email protected] Contact: Catherine Piecora, Contact: Roberta Jacobowitz, executive E-mail: [email protected] director, (718) 467-8800 Web site: www.swbidc.org (718) 726-0034 director, (718) 273-6369 Web site: www.belmontarthurldc.com E-mail: [email protected] E-mail: [email protected] Web site: www.ldcch.com MANHATTAN ▼ CENTRAL ASTORIA LOCAL Web site: www.downtownsi.com ▼ BRONX COUNCIL FOR ECONOMIC ▼ HOUSING PARTNERSHIP DEVELOPMENT COALITION DEVELOPMENT ▼ EAST NEW YORK DEVELOPMENT CORP. Contact: Marie Torniali, executive ▼ NORTHFIELD COMMUNITY Contact: (718) 562-2104 Contact: Sherry Roberts, Contact: Daniel E. Martin, president, director, (718) 728-7820 Contact: John F.Lavelle, economic E-mail: [email protected] (718) 385-6700, ext. 11 (646) 217-3372 E-mail: [email protected] development director, E-mail: [email protected] E-mail: [email protected] Web site: www.centralastoria.org (718) 442-7351, ext. 25. ▼ HUNTS POINT ECONOMIC Web site: www.ldceny.org Web site: www.housingpartnership.com E-mail: [email protected] DEVELOPMENT CORP. ▼ GREATER JAMAICA Contact: Josephine Infante, (718) 842-1717 ▼ EAST WILLIAMSBURG VALLEY ▼ LOWER EAST SIDE CONSERVANCY DEVELOPMENT CORP. ▼ STATEN ISLAND ECONOMIC E-mail: [email protected] INDUSTRIAL DEVELOPMENT CORP. Contact: Laurie Tobias Cohen, executive Contact: Justin Rodgers, manager of DEVELOPMENT CORP. Web site: www.hpedc.org Contact: Jose Leon, director, director, (212) 374-4100, ext. 1 business and industrial development, Contact: Cesar J. Claro, (718) 477-1400 (718) 388-7287 E-mail: [email protected] (718) 291-0282, ext. 147 E-mail: [email protected] ▼ MOSHOLU PRESERVATION CORP. E-mail: [email protected] Web site: www.nycjewishtours.org E-mail: [email protected] Web site: www.siedc.net Contact: Dart Westphal, president, Web site: www.ewvidco.com Web site: www.gjdc.org (718) 324-4461 ▼ RENAISSANCE ECONOMIC ▼ WEST BRIGHTON/SMART E-mail: [email protected] ▼ FIFTH AVENUE BOARD OF TRADE DEVELOPMENT CORP. ▼ GREATER WOODHAVEN BUSINESS CENTER/BOC WOMEN’S Web site: www.mpcbronx.org Contact: Basil Capetanakis, Contact: (212) 964-6022 DEVELOPMENT CORP. BUSINESS CENTER (718) 238-1354 E-mail: [email protected] Contact: Maria A.Thomson, executive Contact: Susan S. Meeker, (718) 816-4775 ▼ SOUTH BRONX OVERALL ECONOMIC E-mail: [email protected] Web site: www.renaissance-ny.org director, (718) 805-0202 E-mail: [email protected] DEVELOPMENT CORP. Web site: www.14apollo.com E-mail: [email protected] Web site: www.wbcldc.org

airports. These free services match Assistance Program. airport tenants and ancillary companies Contact: Nick Anastasi, assistant to the with Queens suppliers and contractors. commissioner, (631) 853-4800 Getting an inside track The ASDO offers workshops, technical E-mail: [email protected] assistance and annual networking Web site: www.suffolkcountyny.gov events. Contact: Dolores M. Hofman, program ▼ U.S. SMALL BUSINESS manager, (718) 244-6852 ADMINISTRATION on government contracts E-mail: Office of Business Development [email protected] Its Web site: www.asdoonline.com offers the 8(a) program for economically Procurement Help airports and businesses in Bergen, Essex, so that they may be included in city and socially disadvantaged small Hudson and Union counties. It offers construction subcontracts. ▼ SOUTH BRONX OVERALL ECONOMIC businesses that have been in business for networking events, marketing seminars Contact: Alfred Milton, (212) 513-6348 DEVELOPMENT CORP. at least two years and have a product or The following is a list of various local, state and business counseling services. ASDO E-mail: [email protected] Its Procurement Technical Assistance service that they can sell to the federal and federal agencies and organizations that is funded by the Port Authority of New Web site: www.nyc.gov/getcertified Center provides comprehensive government. The Small Business can assist small businesses in obtaining York and New Jersey and administered The agency’s Procurement Technical counseling and technical assistance to Administration’s SDB and HUB Zone government contracts. by the Aviation Development Council. Assistance Center assists New York City help small veteran-, minority- and programs do not have a two-year time Services are free. companies in obtaining federal, state women-owned businesses sell their frame. The agency’s procurement ▼ LAGUARDIA COMMUNITY COLLEGE Contact: Helene M. Gibbs, program and local government contracts. It also goods and services to the government. programs can assist firms in expanding Its Procurement Technical Assistance manager, (973) 961-4278 provides counseling, education and PTAC sponsors workshops to assist their annual sales. Center helps firms market their goods E-mail: [email protected] technical assistance to businesses. PTAC clients with certifications and registering Contact: Georgia Ellis, assistant area and services to the Department of Web site: www.asdoonline.com identifies sources of government their businesses with various agencies. director, (212) 264-4322 Defense and other federal, state and contract opportunities and provides Clients are invited to participate in E-mail: [email protected] local government agencies, as well as ▼ NEW YORK CITY DEPARTMENT OF technical assistance that allows business forums to enhance their Web site: www.sba.gov major corporations. The center also SMALL BUSINESS SERVICES companies to bid on, win and fulfill networking contacts. Its Office of Government Contracting provides free procurement technical Its Bonding Technical Assistance governmental contracts. Contact: Miriam B.A. Johnson, director, helps small businesses get federal assistance and counseling services, Program helps construction companies Contact: Gordon Richards, (212) 513-6472 (718) 732-7540 government contracts by increasing the starting with assessment of a company’s in obtaining required surety bonds and E-mail: [email protected] E-mail: [email protected] small business share of federal potential for government contracting. working-capital financing of Web site: www.nyc.gov/getcertified Web site: www.sobro.org procurement awards; advocating for the Contact: Benjamin Hunt, coordinator, construction contracts. BTA provides breakout of items for full and open (718) 482-5306 training in skills management, ▼ QUEENS AIR SERVICES ▼ SUFFOLK COUNTY DEPARTMENT OF competition; identifying, developing and E-mail: [email protected] negotiating and bid packaging. DEVELOPMENT OFFICE ECONOMIC DEVELOPMENT AND marketing small businesses to large Web site: www.laguardia-ptac.org Contact: Emmanuel Anosike, Funded by the Port Authority of WORKFORCE DEVELOPMENT prime contractors; and assisting small (212) 513-6382 New York and New Jersey and Its Purchasing Technical Assistance businesses in identifying and obtaining ▼ NEW JERSEY AIR SERVICES E-mail: [email protected] administered by the Aviation Program counsels small businesses on subcontracts. DEVELOPMENT OFFICE Web site: www.nyc.gov/getcertified Development Council, the becoming government contractors. It Contact: Janette Fasano, area director, Promotes purchasing opportunities The agency’s Locally Based Enterprise organization provides assistance to coordinates with Long Island (617) 565-5622 between industry buyers at Newark Program certifies small construction and aviation-industry buyers at La Guardia Development Corp. and the federal E-mail: [email protected] Liberty International and Teterboro construction-related businesses as LBEs and John F. Kennedy International Department of Defense Procurement Web site: www.sba.gov

November 13, 2006 | Crain’s New York Business | 37 REP ORT G ROW ING A BU SINESS GUIDE

aspects of West Side life, provides advice to businesses and residents. Offers a member health plan as well as discounts on credit card processing. Orchestrating assistance Showcases local businesses with the Amsterdam Avenue Festival in the spring and the Columbus Avenue Chambers Web site. (718) 828-3900 of the latest developments affecting Festival in the fall. of Commerce Contact: Peter J. LaScala, (718) 885-9100 E-mail: [email protected] industry and the private sector. Contact: Andrew Albert, (212) 541-8880 E-mail: [email protected] Web site: www.bronxchamber.org Contact: William R. Egan, executive vice E-mail: [email protected] Web site: www.cityislandchamber.org president, (718) 898-8500 Web site: www.westsidechamber.org New York’s chambers of commerce serve as ▼ NEW YORK WOMEN’S CHAMBER E-mail: [email protected] sources of information and representation for ▼ GREENWICH VILLAGE-CHELSEA OF COMMERCE Web site: www.queenschamber.org ▼ WESTCHESTER COUNTY local business interests. CHAMBER OF COMMERCE Dedicated to fostering women’s ASSOCIATION INC. Provides networking luncheons, free economic leadership and professional ▼ STATEN ISLAND CHAMBER The association is a business-based, ▼ BROOKLYN CHAMBER OF COMMERCE after-hours events and business growth through the provision of business OF COMMERCE public interest organization committed A business assistance organization seminars. Offers numerous other and microenterprise development Acts to improve the economic climate to addressing public policy issues with and economic development organization marketing opportunities. programs, education and training, and expand business opportunities on respect to business advocacy and with more than 1,200 members, mostly Contact: Bob Zuckerman, mentoring, coaching, networking, access Staten Island. Recently designated a economic development on behalf of the small, local businesses operating in executive director, (212) 255-5852 to capital and advocacy. Business Solutions Center, the chamber region’s corporate and not-for-profit neighborhoods across the borough. E-mail: [email protected] Contact: Quenia Abreu, president/chief offers legislative access, referrals, organizations. The programs offered Provides a wide range of promotional Web site: www.villagechelsea.com executive, (212) 491-9640 networking opportunities and resources focus on three key objectives: business support and advocacy services to assist its E-mail: [email protected] for Staten Island businesses. Most advocacy and economic development of members, attract new investment to the ▼ MANHATTAN CHAMBER Web site: www.nywcc.org recently, it introduced an affordable the region; business development on borough and improve local business OF COMMERCE health insurance plan for its members. both a macro and micro basis; and conditions. Helps businesses grow and market ▼ QUEENS CHAMBER OF COMMERCE Contact: Linda Baran, president/ access and interaction with key public- Contact: Tara Levin, themselves locally, nationally and Founded in 1911 to foster commerce chief executive, (718) 727-1900 and private-sector individuals, agencies (718) 875-1000, ext. 131 internationally through vehicles such as in the borough and improve the quality E-mail: [email protected] and organizations. E-mail: [email protected] free listings on the MCC Web site and in of life for all residents, the chamber Web site: www.sichamber.com Contact: Dorothy T.Forcina, Web site: www.ibrooklyn.com the membership handbook, and advocates for the business community, (914) 948-6444 advertising opportunities in its quarterly holds networking events and helps keep ▼ WEST SIDE CHAMBER OF COMMERCE E-mail: [email protected] ▼ BUSINESS COUNCIL newspaper, Business Matters. Also offers the Queens business community abreast The group, concerned with all Web site: www.westchester.org OF WESTCHESTER discounts and benefits, networking Offers services in the areas of public meetings and events, legislative initiatives, affairs, economic development, and international business contacts. workplace technology, area development Contact: Nancy Ploeger, president, and small business affairs. It provides (212) 473-7875 members with a range of programs, E-mail: [email protected] Where entrepreneurs go information and other services, which Web site: www.manhattancc.org can be reviewed on its Web site. Contact: Marsha Gordon, president/ ▼ THE NEW BRONX CHAMBER chief executive, (914) 948-2110 OF COMMERCE to hit the business books E-mail: [email protected] Provides its members with Web site: www.westchesterny.org counseling and free referrals, free ombudsman services to solve problems Business Libraries ▼ BROOKLYN PUBLIC LIBRARY’S New York, NY 10016 ▼ CITY ISLAND CHAMBER with government agencies, and BUSINESS LIBRARY Contact: Kristin McDonough, OF COMMERCE marketing and research assistance. The Address: 280 Cadman Plaza West, Robert and Joyce Menschel director, Promotes business for City Island. chamber also sponsors free seminars and Owners of every kind of business can use Brooklyn, NY 11201 (212) 592-7000 Helps businesses and visitors with networking events. area libraries to conduct research into new Contact: Susan Phillis, director, E-mail: [email protected] information through the chamber Contact: Lenny Caro, chief executive, markets and products. (718) 623-7000, ext. 1260 Web site: http://smallbiz.nypl.org E-mail: [email protected] Web site: www.biz.brooklyn ▼ PACE UNIVERSITY’S EDWARD publiclibrary.org & DORIS MORTOLA LIBRARY Address: 861 Bedford Road, ▼ C.W. POST CAMPUS Pleasantville, NY 10570 OF LONG ISLAND UNIVERSITY’S Contact: Michelle Lang, (914) 422-4384 CENTER FOR BUSINESS RESEARCH E-mail: [email protected] Address: 720 Northern Blvd., Web site: http://library.pace.edu Brookville, NY 11548 Contact: Martha Cooney, (516) 299-2310 ▼ QUEENS BOROUGH PUBLIC E-mail: [email protected] LIBRARY’S BUSINESS, SCIENCE Web site: www.liu.edu/cwis/cwp & TECHNOLOGY DIVISION /library/cbr/cbrhome.htm Address: 89-11 Merrick Blvd., Jamaica, NY 11432 ▼ NEWARK PUBLIC LIBRARY’S Contact: (718) 990-0760 REFERENCE CENTER Web site: www.queenslibrary.org Address: 5 Washington St., second floor, Newark, NJ 07102 ▼ ST. JOHN’S UNIVERSITY’S Contact: Leslie Kahn, (973) 733-7779 KATHRYN & SHELBY CULLOM DAVIS E-mail: [email protected] LIBRARY Web site: www.npl.org Address: 101 Murray St., New York, NY 10007 ▼ NEW YORK PUBLIC LIBRARY’S Contact: Ismael Rivera, (212) 277-5137 COUNTEE CULLEN BRANCH E-mail: [email protected] Address: 104 W. 136th St., Web site: http://libraries.stjohns.edu New York, NY 10030 /davislibrary Contact: Mary Jackson, (212) 491-2070 E-mail: [email protected] ▼ ST. JOHN’S UNIVERSITY’S Web site: www.nypl.org LORETTO MEMORIAL LIBRARY get on the grid Address: 300 Howard Ave., ▼ NEW YORK PUBLIC LIBRARY’S Staten Island, NY 10301 SCIENCE, INDUSTRY & BUSINESS Contact: Mark Meng, (718) 390-4458 LIBRARY E-mail: [email protected] Address: 188 Madison Ave., Web site: http://libraries.stjohns.edu introducing the skygrid building FIND BUSINESS GUIDE ONLINE THE Silverstein Properties is proud to introduce The SkyGrid Building, at THE CRAIN’S NEW YORK BUSINESS Growing a Business Guide is available 575 Lexington Avenue. Soon to feature a dramatic new entryway skygrid BUILDING online. Go to www.NewYorkBusiness.com and click on “Grow a Business” and lobby, gleaming exterior, upgraded elevators, and state-of-the- on the lower-left side of the home page, or log in directly at art connectivity. Everything, in fact, that you would expect at one 575 www.NewYorkBusiness.com/growing. You will have full access to a list of Midtown’s hottest new addresses. For information on full and of organizations and programs that provide assistance with starting partial floor availabilities, please contact Catherine T. Giliberti, or expanding your business. silversteinproperties.com Roger A. Silverstein or Stuart A. Christie at (212) 732-9700. LEXINGTON AVENUE

38 | Crain’s New York Business | November 13, 2006 GE Real Estate

Closing is just the beginning

During the first half of 2006, GE Real Estate closed more than $14 billion in transactions. We continue to open doors for our customers, worldwide. > joint ventures > securitized financing > portfolio acquisitions > direct equity investments > structured & distressed debt > sale/leasebacks

Call us toll-free at 1 888 GE First or visit us online at gerealestate.com © 2006 General Electric Company

imagination at work CRAIN’S BREAKFAST FORUM, NOV. 15 COMMISSIONER FRIEDEN TO OUTLINE THE CITY’S HEALTH CARE AGENDA

NEW YORK’S ACTIVIST HEALTH COMMISSIONER, Thomas Frieden, will discuss his efforts to improve Vision in public health at the next Crain’s New York Business Breakfast Forum, on Wednesday, Nov. 15. The forum will be held at the Waldorf-Astoria, real estate at 301 Park Ave. The event, which is sponsored by Cushman & Wakefield, Aetna, Bank of America and the Partnership for New York City, will begin with a networking breakfast at 8 a.m. The program requires will begin promptly at 8:30 a.m. Dr. Frieden will make brief opening remarks; he will then be questioned by Crain’s editor Greg David and Lisa Thomas Frieden Colangelo from the Daily News’ City Hall bureau. good ears. The cost of the program is $55 for those who reserve by Nov. 13 via credit card (American Express, Visa or MasterCard only). After that, the cost will be $60. To register for the forum, go to www.NewYorkBusiness.com and click on We’re a global firm that delivers real estate solutions exclusively to “Events,” fax a copy of your business card and credit card information to “Frieden Forum” at tenants. But our expertise is actually listening to our clients. So contact (212) 210-0499, or call the Crain’s Events Hotline CRESA Partners. When you work with us, you’ll like what you see. at (212) 210-0739. The registration deadline is 1 p.m. on Nov. 14. Subsequently, Rep. Charles Rangel, expected Rep. Charles Rangel to assume chairmanship of the powerful House Ways and Means Committee, will appear at the forum on Tuesday, Nov. 28, at the Sheraton New York. Stephen Berger, 100 Park Avenue, 24th Floor . New York, New York 10017 . 212.758.3131 chairman of the state commission on closing hospitals and nursing homes, cresapartners.com will speak at a special forum on Friday, Dec. 8, at the Grand Hyatt. For details on signing up for both events, see the Crain’s advertisement on Page 43.

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40 | Crain’s New York Business | November 13, 2006 PAPER CIRCULATION %CHG. 1. USA Today 2,269,509 The Post made history by -1.3% leaping ahead of the Daily News and The Washington Post. 2. WSJ 2,043,235 -1.9%

The Post is also significantly 3. NY Times 1,086,798 -3.5% ahead of The New York Times in the NY DMA.** 4. LA Times 775,766 -8.0%

5. 704,011 +5.1%

To find out why the New York Post is making history, contact Howard Adler at (212) 930-8030 or [email protected]

*Source: Audit Bureau of Circulation, 9/30/06 ** ABC Audit, 12 month period ending 9/30/05 REAL ESTATE DEAL S Shops for tots, pets look to the East

pet shop, have signed leases for tan location for Hippototamus, also Pets on Lex, a store that special- Local stores find space at 1251 Lexington Ave., between known as Hippotots.Owners James izes in purebred cats and small dogs, space on Lexington; East 84th and East 85th streets. and Tiffani Talbot opened their first is returning to the neighborhood The stores—expected to debut shop on the Upper West Side in with a 15-year lease for 2,000 square Wall St. firm expands Jan. 1—will open next to sites for 2004. “We have plans for opening feet. The company closed its origi- Starbucks, Barnes & Noble and more stores both in and out of the nal location one block to the north HIPPOTOTS, wo homegrown re- H&M.“These deals show that there city,” Ms. Talbot says. “Things are in March. “Our customer base real- a children’s clothing store, tailers are setting up are still some local guys who can taking off faster than we expected.” ly pushed us to return,” says Lou will open a shop among the na- make it,” says Ariel Schuster, the The Talbots signed a 10-year Dalessio, the owner. The asking second location tional chains that dom- Robert K. Futterman & Associates lease for a 375-square-foot space; rent was about $300 per square foot on Lexington Avenue. inate the Upper East broker who negotiated both trans- the asking rent was about $400 per in his deal. Winick Realty Group TSide. Hippototamus, a children’s actions for landlord 150 E. 85th. square foot.Futterman & Associates negotiated on the tenant’s behalf. clothing store, and Pets on Lex, a This will be the second Manhat- negotiated the deal for Hippotots. —elisabeth butler A property gain for trading firm a company that provides services for foreign-exchange traders is ex- panding its sales offices at 44 Wall St. Gain Capital Group, which last month was ranked 116th on the De- EXCELLENT. loitte Technology Fast 500 list, has subleased 16,100 square feet and now has 23,600 square feet at the building. Gain Capital’s new offices occupy part of the sixth floor and the entire seventh floor of the building, which is at the corner of William Street.The asking rent was $30 a square foot. HIP HEALTH PLAN RATED EXCELLENT According to Deloitte, revenue at Bedminster, N.J.-based Gain FOR COMMERCIAL HMO AND POINT-OF-SERVICE PLANS. grew 1,748% from 2001 to 2005. Gain Capital is subleasing the space from Mellon Investor Ser- vices, which is consolidating its lo- cal operations in Jersey City. Last HIP’S ONE MILLION+ MEMBERS BENEFIT FROM: summer, Mellon took 230,709 square feet at Newport Office Cen- ter VII. Earlier this fall, it finished • CONSUMER PROTECTION moving staffers out of New York, says Christopher Kranz,a senior VP at Jones Lang LaSalle, which repre- • QUALITY IMPROVEMENT sented Mellon in the sublease to Gain Capital.CB Richard Ellis rep- resented Gain Capital. • HIGHEST RANGE OF NATIONAL PERFORMANCE —julie satow Opening doors for designers james mallon has built his busi- ness on helping budding fashion designers put their products on the shelves. His company, In Style USA, works with about 30 up-and-com- ing designers to produce samples and small runs of their apparel. As designers’ business grows, he moves the manufacturing overseas. To make room for his growing client list, Mr. Mallon is moving In Style into bigger offices at 306 W. 37th St., between Eighth and Ninth avenues. He signed a 10-year lease for 9,500 square feet—larger by a third than In Style’s current offices. Brokers at Adams & Co. worked with Mr. Mallon for eight months to find the space. “There weren’t that many prospects that could cater to his re- quirements,” says Joe Friedman, an Adams broker.He needed a big space Accredited by the National Committee for Quality Assurance (NCQA). at the right price. The asking rent was less than $25 per square foot. Newmark Knight Frank Retail represented the landlord, which is listed in public records as 37th Ar- cade Co., in the deal. —elisabeth butler

42 | Crain’s New York Business | November 13, 2006 UPCOMING CRAIN’S EVENTS

CRAIN’S BUSINESS BREAKFAST FORUM MEET CONGRESSMAN CHARLES RANGEL Rep. Rangel, expected to be named chairman of the powerful House Ways and Means Committee, will discuss his priorities for taxes and trade policy among other issues. He will be questioned by Crain’s Editor Greg David and another journalist.

DATE: TUESDAY, NOVEMBER 28, 2006 COST TO ATTEND: PLACE: Sheraton New York 811 Seventh Ave. $55 for individual ticket(s) $550 for table(s) of ten if pre-registered by Nov. 22nd; if pre-registered by Nov. 22nd; TIME: Networking Breakfast 8:00–8:30 a.m. $60 thereafter $600 thereafter Program 8:30–9:30 a.m. (American Express, Visa or MasterCard only)

YOU MUST BE PRE-REGISTERED TO ATTEND THIS EVENT. ALL TICKETS ARE NON-REFUNDABLE.

TO REGISTER, GO TO NEWYORKBUSINESS.COM AND CLICK ON “EVENTS”, OR FAX YOUR BUSINESS CARD AND CREDIT CARD INFORMATION TO “RANGEL BREAKFAST” AT 212-210-0499. FOR MORE INFORMATION, CALL THE EVENTS HOTLINE AT 212-210-0739.

SPONSORED BY:

CRAIN’S HEALTH CARE BREAKFAST

MEET STEPHEN BERGER, CHAIRMAN OF THE NEW YORK STATE COMMISSION ON HEALTH CARE FACILITIES IN THE 21ST CENTURY Mr. Berger will discuss the Commission’s report on which hospitals and nursing homes should be closed to reduce health care costs and to strengthen the finances of surviving institutions. He will be questioned by Crain’s Editor Greg David and another journalist.

DATE: FRIDAY, DECEMBER 8, 2006 COST TO ATTEND: PLACE: Grand Hyatt 42nd Street and $55 for individual ticket(s) $550 for table(s) of ten Grand Central Terminal if pre-registered by Dec. 1st; if pre-registered by Dec. 1st; TIME: Networking Breakfast 8:00–8:30 a.m. $60 thereafter $600 thereafter Program 8:30–9:30 a.m. (American Express, Visa or MasterCard only)

YOU MUST BE PRE-REGISTERED TO ATTEND THIS EVENT. ALL TICKETS ARE NON-REFUNDABLE.

To register, go to newyorkbusiness.com and click on “Events”, or fax your business card and credit card information to “Health Care Breakfast” at 212-210-0499. For more information, Sponsored by: call the Events Hotline at 212-210-0739. ACCOUNTING/QUICKBOOKS TELECOMMUNICATIONS EXECUTIVE RECRUITER Certified QuickBooks POS Experts EXECUTIVE who understand your business and the importance of cor- rect process flows. 47 Years of combined experience in accounting, finance and various specialized RECRUITER POSITION AVAILABLE businesses. Over 400 installations completed. www.QBTrainer.net DIRECTOR, NEW BUSINESS DEVELOPMENT 212-767-1500 or 212-332-8162 EMERGENCY [email protected]. POSITION AVAILABLE Nelson Westerberg, Inc., a global leader in domestic and international relocation and part COMMUNICATIONS of Atlas World Group, Inc., has an immediate opening in our Somerville, New Jersey BOOKKEEPING SERVICES SYSTEMS EXECUTIVE DIRECTOR company. This position, Director of Business Development has responsibility to develop Staten Island based real estate related new corporate business in the NYC Metro market. The selected candidate will have 5-7 SPECIALISTS trade org. seeks Executive Director. years of successful corporate sales experience: opening doors at fortune 1000 type This professional will be responsible • FREE PICKUP for the management & administration accounts, forging relationships with senior to executive level decision makers, advancing AND DELIVERY of all operations of the org. sales processes and winning. Professional image, a Bachelor’s Degree and tenacity is Responsibilities include continuing an required. We offer competitive compensation and a benefits package. • 48 HOUR aggressive government affairs TURNAROUND campaign, interaction with state wide sister org., increasing membership, & Forward letter of request for consideration, resume, and compensation expectations in ON REPAIRS acting as the face & name of the confidence to: Greg Koehlinger, Executive Vice President, Nelson Westerberg, Inc. • FREE ENGRAVING organization. The ideal candidate must be 1500 Arthur Avenue, Elk Grove Village, IL 60007. 100th Anniversary 1904-2004 BUSINESS BROKER self motivated, organized, ambitious, [email protected] EOE:M/F/D/V • SHORT AND LONG computer literate & have excellent verbal & written skills. Competitive TERM RENTALS salary/benefits. Send resume & salary Selling Your Business? requirements in confidence to: The Place to Go to Buy or Sell a Business [email protected] The Nations Largest Brokerage Firm • No Fee to List • Free Consultation • Confidential 307 Fifth Avenue, NY 10016 To Advertise Call Sunbelt Business Brokers 212-588-9977 212-532-7400 John Gallagher www.sunbeltny.com www.metrocomradio.com 212-210-0189 Sell or Buy a Business Free Confidential Consultation PUBLIC & LEGAL NOTICES Many Exclusive Listings LISITEN ASSOCIATES 212.661.4160 Notice of Formation of Cohen Adams, Notice of Formation of ROCKVIEW [email protected] LLC Arts. of Org. filed with the Secy. of NYBOT, LLC. Arts. of Org. filed with State of NY (SSNY) on 10/12/06. Secy. of State of NY (SSNY) on BUSINESS SERVICES Office location: NY County. 10/6/2006. Office location: NY County. SSNY designated as agent of LLC upon SSNY designated as agent of LLC upon whom process against it may be served. 9/11: We Will Never Forget whom process against it may be served. SSNY shall mail process to: National INCLUDES: State Filing Fees, SSNY shall mail process to: c/o Barton NEW YORK Company Seal & Book, Certificate of Registered Agents, Inc, 875 Ave of the Investment Banker VP (Biopharmaceuticals) in New York City. Analyzing, CORPORATION Incorporation or Organization, Company 95 Barton & Plotkin, LLP, 420 Lexington Americas, Ste 501, NY, NY 10001 structuring and executing corporate finance transactions; with emphasis on $16 4 Minutes, Corporate ByLaws, Stock/ COMPLETE Membership Certificate, Preliminary Avenue, NY, NY 10170 Purpose: any lawful activities. biopharmaceutical entities. As subordinate to investment banking principals and CALL FOR FREE Name Search, Attorney’s Fee Purpose: any lawful activity. managing director of office, supervise associates and analysts in the execution of INFORMATION www.amerilawyer®.com PACKET transactions. Responsible for those performing complex numerical analysis, cash NEW YORK LLC (212) 962-1000 (516) 338-9100 349 E. 10TH STREET, LLC Articles of 95 NEW YORK CITY LONG ISLAND flow analysis, and modeling of deal structures. Provide numerical and analytical $234 Spiegel & Utrera, P.A., P.C. Org. filed NY Sec. of State (SSNY) COMPLETE 45 John St., Suite 711; NYC © L. Spiegel LEGAL NOTICE Notice of Application 9/7/2006. Office in New York Co. SSNY support for clients and prospective clients, including deal processing steps, credit for Authority of limited liability company desig. agent of LLC upon whom process evaluation, client meetings and review of legal documents. Function as a backup COMPUTER CONSULTING (LLC) Name: 51st and Eleventh, LLC may be served. SSNY shall mail copy of for relationships with important clients and be key contact for some clients. Must Application for Authority filed with the process to 270 Lafayette Street - 4th Floor, have proof of legal authority to work in the U.S., and Master degree or foreign Department of State of New York on New York, N.Y. 10012. Purpose: Any degree equivalent in Economics, Finance, Accounting, or closely related field. In October 05, 2006. The jurisdiction of its lawful purpose. addition, must have 3 years experience in job offered; or 3 years of investment formation is Delaware. The date of its banking transactional experience involving biotechnology and/or formation is July 19, 2006. Office location: Notice of Appl. For Auth. 653 Eleventh Ave LLC biopharmaceutical companies; or 3 years related experience negotiating, a foreign limited liability company (LLC). Appl New York County. The Secretary of State For Auth. Filed with Secy. of State of NY (SSNY) documenting, and closing financing and/or Merger & Acquisition transactions of New York (SSNY) is designated as agent on 7/13/05. LLC Organized in DE on 6/30/05. NY involving biotechnology and/or biopharmaceutical companies. Send resume and of LLC upon whom process against it may office location: New York County. SSNY cover letter to Ms. B. Bryan, Piper Jaffray & Co, 800 Nicollet Mall, Minneapolis, be served. The principal business location is designated as agent of the LLC upon whom Minnesota 55402. No calls or emails. Refer to the Investment Banker VP c/o Potamkin Cadillac, 798 11th Ave., New process against it may be served. SSNY shall mail (Biopharmaceuticals) New York position. York, NY 10019. The address SSNY shall copy of process to: c/o Horizen Global, LLC, 9 East 19th Street, 6th Floor, New York, NY 10003. mail copy of process to is c/o Potamkin A copy of the Cert. of Form, is on file with State Automative Group, Inc., 6600 Cowpen Rd., of Delaware, Division of Corporation, 401 Federal FINANCIAL PLANNER (200), Miami, FL 33014. The address of the Street, Ste. 4, Dover, DE 19901. Purpose: Any REAL ESTATE office required to be maintained in the lawful act or activity. a jurisdiction of its formation is c/o National Registered Agents, Inc., 160 Greentree Dr., Notice of Formation of 43 Orchard Realty OFFICE SPACE Ste. 101, Dover, DE 19904. The name and LLC. Arts. of Org. filed with Secy. of State of NY (SSNY) on 5/19/06. Office location: address of the authorized officer in the NY Co. SSNY designated as agent of LLC jurisdiction of formation where a copy of its upon whom process against it may be certificate of formation is filed is Delaware served. SSNY shall mail process to: c/o The EXECUTIVE OFFICE SUITES Division of Corporations, 401 Federal St., Icon Group, 420 Lexington Ave, Ste 2860, Ste. 4, Dover, DE 19901 NY, NY 10170. Purpose: any lawful activities. 212.573.0909 FurnishedOfficesNYC.com HOLIDAY OFFICE SPACE LUXURY PARTY GUIDE MIDTOWN COMMERCIAL REAL ESTATE For All office & loft SPACES PROPERTIES 500-50,000 SF ENTERTAINMENT UNDER MARKET SUBLETS-NO FEE! Search our listings @ www.midcomre.com MIAMI BEACH/FLORIDA TOP-NOTCHED ENTERTAINMENT Call Paul 212 947-5500 x 100 Corporate Event Specialist R&B, Pop, Soul, Reggae – Live Bands TRUMP OCEANFRONT CONDOS OWN YOUR LUXURY CONDO TODAY! 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44 | Crain’s New York Business | November 13, 2006 THE WEEKS AHEAD NEW YORK

THIS WEEK’S EVENTS seminar on upgrading technology for NOVEMBER 14 nonprofits and small businesses. 8:30 AMA Executive Conference Center Action International of NYC holds a.m. to 10:30 a.m., Bulova Corporate workshop on building the business of Center, 75-20 Astoria Blvd., conference your dreams. 8:15 a.m. to 10:30 a.m., center. Free. (718) 898-8500 or 989 Sixth Ave., fourth floor. Fee: $30. [email protected]. HOT RATES for WINTER DATES (646) 862-1710 or delphinefares NOVEMBER 18 @action-international.com. Score NYC holds seminar on how to NOVEMBER 14 start and run a service business. 1:00 * Support Center for Nonprofit Manage- p.m. to 4:00 p.m., Science, Industry and SAVE 20% off ment holds workshop on board chair Business Library, 188 Madison Ave., our already low meeting package rates which are up to 40% less than responsibilities. 6:00 p.m. to 8:00 p.m., lower level. Fee: $40 in advance, $50 at 305 Seventh Ave., 11th floor. Fee: $35. door. (212) 264-4507 or [email protected]. comparable facilities. Located in Midtown Manhattan in the heart of (212) 924-6744 or Times Square’s theatre district, the Center is within walking distance [email protected]. NOVEMBER 20-26 NOVEMBER 15 NOVEMBER 20 to shopping, restaurants, hotels and cultural attractions. Net@Work holds seminar on marrying Career Counselors Consortium holds sales skills with customer relationship workshop on 10 steps to career success. • 33 meeting rooms for 5 to 120 management. 8:30 a.m. to 11:00 a.m., 7:00 p.m. to 8:30 p.m., St. Jean Baptiste Worldwide Business Center, 575 Church, Lexington Avenue and East • Executive chairs and spacious lounges Madison Ave., eighth floor. Free. 76th Street, basement hall. Fee: $5. • State-of-the-art audio/visual equipment Registration required. (212) 997-5200 or (212) 980-2526. [email protected]. NOVEMBER 20 • High-speed Internet access and WiFi in lounges NOVEMBER 15 NY Designs and CUNY hold course on IBI New York holds networking planning for growth in a design • Complimentary continuous beverage service reception with Dan Pincus, founder and business. 5:00 p.m. to 9:00 p.m., 45-50 • Catering options without any food and chief executive of World Golfs. 6:00 30th St., seventh floor, Long Island beverage minimums p.m. to 8:00 p.m., AXA Advisors, 1290 City, Queens. Fee: $60. (718) 663-8403 Sixth Ave., seventh floor, Big Apple or [email protected]. Room. Free. Registration required. NOVEMBER 20 No service charges, set-up charges or freight in/out (877) GOIBINY or www.ibiglobal.com. Asian Women in Business holds charges and no sleeping room commitment. NOVEMBER 15 workshop on starting a business. 6:00 Human Resources Association of New p.m. to 8:00 p.m., Institute for Women York holds breakfast program on & Work, 16 E. 34th St., sixth floor. Fee: cultural diversity. 8:00 a.m. to 11:00 $15 members, $25 nonmembers. a.m., New York Helmsley Hotel, 212 E. (212) 868-1368 or [email protected]. ACT NOW! 42nd St., third floor. Fee: $25 student NOVEMBER 21 members, $45 members and $65 Nationwide Equities Corp. holds nonmembers in advance; additional $10 networking reception. 6:00 p.m. to 8:00 Atlanta for all at door. (877) 625-4769. p.m., Social Bar and Lounge, 795 Chicago NOVEMBER 15 Eighth Ave., second floor. Free. New York The Advertising Club, Institute for the (917) 975-5985 or [email protected]. San Francisco Future and TLC hold breakfast program NOVEMBER 21 Washington, DC on “slambrosia.” 8:00 a.m. to 10:00 a.m., Brooklyn Chamber of Commerce and Harvard Club, 35 W. 44th St. Fee: $55 NYC Business Solutions hold seminar Ad Club members, $75 nonmembers, on new hire training. 8:30 a.m. to 10:30 Visit our Website: www.amanet.org/meetings $35 Ad Club young professionals. a.m., 9 Bond St., fifth floor, Brooklyn. Email us at: [email protected] or call 212-903-8392 (212) 533-8080, ext. 209. Free. (718) 875-3400 or NOVEMBER 15 [email protected]. International Radio and Television *20% offer subject to space availability. This offer is conditional and certain restrictions apply. Offer valid one time only and only applicable to new Society Foundation holds newsmaker NOVEMBER 27-DECEMBER 3 customers. Not to be combined with any other discounts or promotions. 20% offer applicable to basic meeting package only. Center information breakfast program. 8:30 a.m. to 10:00 NOVEMBER 27 including pricing available on our Website: www.amanet.org/meetings. Meeting must be held between January 2 and March 30, 2007 to qualify. a.m., Waldorf-Astoria, 301 Park Ave., Holtz Rubenstein Reminick holds not- third floor, Grand Ballroom. Fee: $95. for-profit fiscal workshop on prepping for (212) 867-6650, ext. 306, or 2007. 1:30 p.m. to 5:00 p.m., Friars Club, [email protected]. 57 E. 55th St. Free. (212) 697-6900 or NOVEMBER 15 [email protected]. Crain’s New York Business holds NOVEMBER 27 networking breakfast and program with Department of Small Business Services New York City Health Commissioner holds workshop on restaurant Dr. Thomas Frieden. 8:00 a.m. to 9:30 management. 2:00 p.m. to 4:00 p.m., a.m., Waldorf-Astoria, 301 Park Ave. 110 William St., seventh-floor Fee: $60. (212) 210-0739 or boardroom. Free. (212) 618-8862 or www.newyorkbusiness.com/calendar.cms. [email protected]. NOVEMBER 16 NOVEMBER 28 Workshop in Business Opportunities New York Society of Security Analysts holds seminar on e-commerce. 6:00 p.m. holds conference on broadband to 9:00 p.m., 55 Exchange Place, sixth communications and VOIP.8:30 a.m. to floor. Free. (212) 684-0854, ext. 0541, or 12:30 p.m., 1177 Sixth Ave., second [email protected]. floor. Fee: $95 members, $135 NOVEMBER 16 nonmembers. (212) 541-4530, ext. 40. World Golfs holds networking reception. NOVEMBER 29 5:30 p.m. to 7:30 p.m., Swing 46, 349 W. The Employment Line holds seminar 46th St. Fee: $50. (201) 489-2240 or on how HR departments can drive [email protected]. organizational success. 8:30 a.m. to NOVEMBER 16 12:00 p.m., Jolly Hotel Madison Towers, Jefferson Wells holds breakfast 22 E. 38th St. Free. (212) 931-6430. roundtable on how tax works. 8:00 a.m. NOVEMBER 29 to 11:00 a.m., Harvard Club, 35 W. 44th U.S. Small Business Administration St., Slocum Room. Free. Registration holds seminar on financing and business required. (212) 823-8569 or basics. 9:30 a.m. to 12:30 p.m., ne’[email protected]. American Management Association, NOVEMBER 16 1601 Broadway, eighth floor. Fee: $40 in Nonprofit Group at Baruch College, advance, $50 at door. (212) 264-4507 or School of Public Affairs, holds seminar [email protected]. for nonprofit leaders with Alair —adrianne pasquarelli Townsend of Crain’s. 4:00 p.m. to 6:00 p.m., 135 E. 22nd St., room 301. Free. Registration required. (646) 660-6743 or TO LIST YOUR EVENT [email protected]. Crain’s lists meetings online and includes them in the NOVEMBER 17 print edition as space permits. NYC events with fees Queens Chamber of Commerce holds under $300 are considered for the print publication. Listings can be submitted only through the Crain’s More meetings online at Web site. Go to www.newyorkbusiness.com and www.newyorkbusiness.com click on “Events.” Sponsors have a choice of sever- Click on “Events” al free or paid listing options. All business events will be posted online within two business days. Welcome to a new beginning.

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GOTHAM GIGS The fiber guy JOHN MORETTI, 33, has been wiring New York for Verizon Fledglings return to nest Communications since 1997—sometimes crawling under the streets, sometimes Find it harder to strike out on their own climbing poles. Last year, the field technician went indoors: He is installing fiber-optic cable in Staten Island homes as part of the rollout of Verizon’s FiOS high-speed Internet service. ROUTINE At 7:30 a.m., Mr. Moretti, with his assignment in hand, goes to the Verizon garage on Arthur Kill Road to pick up supplies, including a wet/dry vacuum and sheetrock to patch any holes he has to slice through walls. ATHLETICS “It’s a one-day, lengthy process,” he says. Installation typically takes six hours, but bigger, multiple- floor dwellings can take as long as 10. Holes need to be drilled into walls, and wires have to be discreetly snaked along walls. “Customers do not want to see wires,” he adds. REWARD In the past year, he has installed fiber in 250 homes. He enjoys introducing customers to the the service. “I like seeing the reaction on their faces,” he says. “They can’t believe how fast it is.” —amanda fung

EXPERT OPINIONS WELCOME BACK: “We know it’s temporary,” says HOW DO I INVEST IN A Susan Gidaly of her PRIVATE EQUITY FUND? son Michael’s return if you wanted to invest in to the family home. my fund, you would need to have at least $1 million on buck ennis hand and you would have to talk to me directly. I’m BY JULIE SATOW currently raising $1 billion for a new fund, but it is not t’s nice to have your mother pack your lunch every day. It’s not so great when appropriate for most people to you can’t invite your date back to your place because it’s your childhood room. CRIB COSTS invest with me. I have over $5 billion under management That may explain why Michael Gidaly has mixed emotions about his living VACANCY AVERAGE already and try to turn around situation. On the one hand, the outgoing 25-year-old loves the creature comforts RATE RENT distressed companies in auto he’s enjoyed since moving back to his parents’ home in Woodmere, L.I. But parts, textiles, helicopters and sometimes the social price is too high. 2.5% $2,526 other troubled sectors, so the NEW YORK risks are very high. “My parents are very welcoming, but professionally and socially, I think it’s —lynn tilton best if I did move out,” says Mr. Gidaly, a sales and marketing manager for real 3.9% $1,233 Principal, Patriarch Partners estate newsmagazine The Real Deal, who has lived with his folks since June. WASHINGTON Mr. Gidaly is one of a growing number of young professionals who have moved back in with their parents. Known as boomerangers, they are driven by 5.1%$991 factors that include the need to pay back college loans, the high cost of living in urban centers CHICAGO like New York and the lack of high-salaried jobs for some recent graduates. SOURCE: REIS INC. IIn New York the trend is especially pronounced.The city has the See RETURN on Page 48 November 13, 2006 | Crain’s New York Business | 47 BUSI NESS LI VES

Sellers... Return to the nest Don’t Leave Money On The Table Continued from Page 47 Spanish bank into a permanent job nation’s lowest apartment vacancy as a compliance analyst.She has now rate and highest average rent, mak- saved enough to sign a lease for a ing it extra difficult for young pro- studio apartment on the Upper fessionals to strike out on their own. West Side. Nearly 18 million Americans Ms. Apuzzo’s experience is typ- aged 18 to 34 live with their parents, ical. “The Massey Knakal Premium” a 42% rise from three decades ago, “More kids are going to school, according to the 2000 census. Given which is increasingly expensive, and that the cost of a four-year college going for longer,” Ms. Morris Shaf- education has tripled since 1981, it’s fer says. “It’s hard to get a job, and no wonder that 61% of seniors ex- even if you do find one, they usually Miller Cicero’sCicero s 2005 pect to return to the parents’ home have no health benefits.” New York City Building sales study after graduation,according to a 2003 Add to this the increasing num- determined that poll by MonsterTrak, a division of ber of companies that offer only Massey Knakal Realty Services the job search engine Monster. unpaid internships, and it can be hard to survive. achieved prices that were, on average, achieved prices that were, on average, Economic necessity For Eric White, 27, the decision 31.5% higher than the rest of the market “it is becoming tougher for re- to move home after graduating Col- cent graduates to move out on their gate was purely economic.He was in Massey Knakal Realty Services own,” says Susan Morris Shaffer, graduate school at Columbia Uni- A Tradition of Obtaining the Highest Prices for Sellers. who with Linda Perlman Gordon versity and figured out that he could wrote Mom, Can I Move Back in cut his expenses by $20,000 by liv- With You? A Survival Guide for Par- ing with his parents in Harlem. ents of Twentysomethings. “Families “I intended to move out, but I are deciding it is economically rea- couldn’t find a job after school,” Mr. sonable for kids to live at home White says. After a long search, he Realty Services, Inc. rather than subsidize their landed a position with Time Manhattan / Brooklyn / Queens / living expenses.” Warner. He then became a Bronx / Westchester Staten Island Long Island Though living at home researcher at Star magazine 275 Madison Ave. 205 Montague St. 118-35 Queens Blvd. 61% 3rd Floor 3rd Floor 14th Floor until marriage is the norm COLLEGE and saved up enough to New York, NY 10016 Brooklyn, NY 11201 Forest Hills, NY 11375 in some other cultures, it seniors expect lease an apartment with his P 212.696.2500 P 718.239.8999 P 718.275.3400 to return home F 212.696.0333 F 718.238.6091 F 718.275.5478 often carries a stigma here. after graduating fiancée in July. WWW.MASSEYKNAKAL.COM The impetus for writing the Mr. White is close to his book was “to normalize this parents, who “have treated trend for parents so they wouldn’t me like an adult since I was 17,” he blame themselves for something says. they did wrong,” Ms. Morris Shaf- Maintaining boundaries and fer says. dealing with children appropriately While some parents may have is critical to making a temporary re- mixed emotions about the return of turn successful, Ms. Morris Shaffer their sons and daughters, Susan Gi- says. “It is important that parents daly was happy to have Michael don’t feel responsible for having to back home. cook dinner every night or do laun- “We know it’s temporary, until dry,” she says. he gets some money in the bank and finds the right living situation,” Ms. Respecting boundaries Gidaly says. “More often than not, sue apuzzo, Anne’s mother, has people say they think it’s great.” tried to toe this line. Like many par- Young professionals who are just ents, though, she has struggled with starting out and looking to establish the change.“You have to learn to re- themselves find the situation more member that they really do have difficult, however. their own lives. Sometimes it’s “It is definitely time to leave; I’m hard—if we don’t hear her coming 26, and I’m embarrassed,” admits home late at night—not to worry.” Anne Apuzzo, who moved home to When parents keep their dis- Sleepy Hollow, N.Y., after getting tance, young adults can find it diffi- her degree in Spanish literature from cult to leave such an emotionally and the University of Chicago in 2002. financially secure haven. For Mr. “This isn’t something that I Gidaly, the clincher was the two- planned,” Ms. Apuzzo says. “When and-a-half-hour commute from the I graduated, a lot of my friends suburbs. stayed in Chicago, so I really didn’t After months of trolling Web know anybody here. I didn’t know site Craigslist for a place in Man- what I wanted to do, and I did not hattan,he recently signed a lease for have a job lined up.” an apartment in the East Village. After a slew of low-paying gigs, she turned a temp position at a COMMENTS? [email protected]

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Special Advertising Section November 13, 2006 | Crain’s New York Business | 51 B U SINESS L I V ES LIVING LARGE New owner tapping into Tommy Tune’s pad

400-square-foot studio the couple market, he’s not concerned about Hospitality consultant had been sharing in the East 30s for the valuation, because he has no and fiancée will redo several months. thoughts of moving anytime soon. “It was the apartment I had been He’s looking forward to setting East Side penthouse dreaming about,” Mr. Rushmore up house. He met Ms. Kim, a hos- says. pitality industry analyst for the on a smaller scale Royal Bank of Scotland, six years A winning bet ago, when she worked at HVS. to turn his dream into reality, he They are currently camping out on BY LOUISE KRAMER had to act fast. An offer of $5.5 mil- patio furniture in their new home lion had already been accepted, but and sleeping on the Heavenly Bed teven rushmore took one the contract wasn’t signed yet. Mr. they ordered online from the West- look at the showstopping Rushmore,61,threw a full $500,000 in hotel chain. views in the Upper East more on the table and gave Mr.Tune The couple plan to invest Side penthouse apartment a mere 12 hours to act. $1.5 million in a gut renovation to of Broadway great Tommy It was a happy ending, and a sur- replace Mr.Tune’s theatrical touch- STune and knew it was the place for es—including a black Jacuzzi,a ceil- him. The duplex features a stairway ing full of twinkling lights and ex- to the stars—well, the bright city VITAL STATS posed pipes wrapped in rope—with lights one can behold from the apart- warm colors and an Asian-inspired, ment’s 1,400-square-foot terrace 33 PROPERTY Three-bedroom modern look. They hired interior stories above Madison Avenue—and penthouse duplex designer John Barman for the proj- 3,000 square feet of indoor space. ADDRESS 50 E. 89th St. ect, based on his work for clients The big problem, Mr. Rushmore whose names read like a who’s who was quick to notice, was the scale of ASKING PRICE $5.5 million of New York movers and shakers,

the built-ins. The famously lanky PURCHASE PRICE $6 million including Larry Silverstein, Bryant buck ennis Mr.Tune, who stands 6 feet 6 inch- Gumbel and Wynton Marsalis. MONTHLY MAINTENANCE $5,741 SET REDESIGN: Steven Rushmore plans to invest $1.5 million in a gut renovation to replace es tall, had designed the apartment The duplex was created by joining Tommy Tune’s theatrical touches, such as a ceiling full of twinkling lights. to accommodate his stature—down CLOSING DATE June 29, 2006 two apartments with a spiral stair- to a kitchen counter sized more for case. Mr.Tune gutted the lower level a basketball player than for the and painted the entire space black for They will move out when the reno- He commutes by car to his office in merely 6-foot Mr. Rushmore. prisingly quick transaction. Mr. his rehearsal studio.The master bed- vation work begins in January. Mineola a few times a week. The founder of HVS Interna- Rushmore and Ms. Kim saw the room and a home office will be on Mr. Tune’s brokers left behind a tional, a Mineola, L.I.-based hotel apartment with their broker, Julia this level. The upper level will be City activities scrapbook of articles featuring the consulting and real estate appraisal Hoagland of The Corcoran Group, dominated by entertaining space, mr. rushmore is enjoying his new apartment. Mr. Rushmore is keep- business, was undeterred by the the week after Easter, got the co-op Mr. Rushmore explained in the cav- city life after a lifelong suburban ing it close at hand. He says he will decor. The co-op had everything board’s approval and moved in by July ernous dining area late last month. existence in Roslyn, L.I., where he share the apartment’s theatrical past else he and fiancée Julia Kim want- 4. They looked at only one other As an interim measure, he and raised two children with his first with the many guests he and Ms. ed: unobstructed views, a location apartment, in Trump World Tower. Ms. Kim bought four stepladders to wife. He walks to meetings in mid- Kim hope to entertain there. near Central Park and lots of room Mr. Rushmore says he got a fair place in their closets so they could town and has taken up running for entertaining—a far cry from the deal. Despite dips in the real estate comfortably reach their clothes. around the reservoir in Central Park. COMMENTS? [email protected]

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52 | Crain’s New York Business | November 13, 2006 B U SINESS L I V ES CORPORATE LADDER Sam Quan Krueger A Far East expansion New COO supervises and ambitious plans for exhibits and programs. PERSONNEL FILE ethnic museum’s big “There is a sense of urgency to everything we do, because we don’t ORGANIZATION Museum move; welcomed have enough time,” says Mr. of Chinese in the Americas Krueger, who is hiring 19 employ- TITLE Chief operating officer as calming influence ees, bringing the total staff to 30. AGE 36 BY LISA FICKENSCHER Higher profile RÉSUMÉ United Way of New York the pressure will only increase. City, manager of organization hen sam quan The tiny nonprofit has retained support services; United Krueger joined renowned architect Maya Lin, who Neighborhood Houses, the small staff of designed the Vietnam Veterans settlement arts coordinator; the Museum of Memorial in Washington, to devel- National Urban Fellow Chinese in the op the new space. Her involvement AmericasW in September, he knew should bring national attention. BIRTHPLACE Saigon there would be no easing into the “She’s putting the museum on HOBBIES Tennis and karaoke job. As chief operating officer, Mr. the map,” Mr. Krueger says. Krueger is responsible for coordi- It’s his job to make sure that nating the museum’s move from a MoCA proceeds in the right direc- Getting it wrong is not an option

cramped, two-room exhibit space tion.Hired for his business acumen, for Mr. Krueger, who feels a deep buck ennis on Mulberry Street into a sleek new Mr.Krueger has worked in the non- connection to the museum, though home late next year. He must also profit sector for a decade, most re- he is Vietnamese. He says that all explains, “made me very individu- of Public Administration degree manage the millions of dollars ear- cently with the United Way,helping Asian immigrants can relate to the alistic.” from Baruch College at CUNY. marked for the expansion. groups in New York City develop Chinese experience. Colleagues are discovering that The museum, created in 1980 to business plans. Mr. Krueger still remembers the Serene amid chaos Mr. Krueger brings a much-needed document the Chinese immigrant He’s expected to do the same for day in 1975—in the final months the soft-spoken executive, who quality to their organization. Two experience,recently got $4.5 million MoCA, which now attracts just before the fall of Saigon—that he, has since visited Saigon a number of weeks ago,as the staff frantically pre- in grants from the city, the Septem- 100,000 visitors a year. The city has his 4-month-old brother, and his times, channeled his personal back- pared for its annual fund-raising ber 11th Fund and the Lower Man- given it $2.25 million over the past mother and stepfather, a soldier in ground into a career focused on so- dinner, Executive Director Charlie hattan Development Corp. to help three years and wants to know that the U.S.Air Force,were airlifted out cial and cultural issues. After col- Lai observed that his new employee it relocate to digs at Lafayette and the contribution is well-managed. of the country. lege, he participated in the two-year was serene amid the chaos. Center streets. The museum needs “They are putting us under a mi- The family settled in Bohemia, Public Allies program, a model for “His demeanor allows us all to to raise $3 million more to be able to croscope to make sure that the right L.I. In 1988, Mr. Krueger was the AmeriCorps. He was later named a calm down a bit,” Mr. Lai says. afford its new 12,500-square-foot decisions are made and that we exe- only East Asian in his high school National Urban Fellow, which cov- space—a former garment factory— cute on point,” Mr. Krueger says. class of 700. Standing out, he ered the costs of getting his Master COMMENTS? [email protected]

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EXECUTIVE MOVES

ACCOUNTING & CONSULTING 53, joined as vice president and chief partner from senior manager. Amper Politziner & Mattia: Bridget Day, sales and marketing officer. He was Kurts R. Kirimsky, 33, was promoted to HOT JOBS 39, was promoted to partner from senior formerly a vice president at e4e Inc. partner from senior manager. manager. KPMG: Michael Dimitriou, 37, was Anchin Block & Anchin: Frank Schettino, promoted to partner from senior ADVERTISING & COMMUNICATIONS WANTED: PRESIDENT 50, was promoted to co-managing manager. Eyeball NYC: David Drucker, 39, joined as partner from associate managing Matthew Drucker, 34, was promoted to chief financial officer and chief partner. partner from senior manager. operating officer. He had been CFO at ORGANIZATION Metropolitan Waterfront Alliance Deloitte Financial Advisory Services: Mark Christopher H. Gillespie, 36, was Elias Arts. JOB DESCRIPTION Leading the MWA in becoming an independent entity Blumkin, 45, was promoted to principal promoted to partner from senior Siegel+Gale: Douglas B. Stone, 45, joined from senior manager. manager. as group director of interactive media, a MOST IMPORTANT TASK Building an influential board of directors to Peter Caputo, 34, was promoted to Robert G. Hilbert, 38, was promoted to new position. He was formerly chief help raise money principal from senior manager. partner from senior manager. executive at Abstract Edge. CREDENTIALS NEEDED Strong leadership skills and a commitment to ExlService Holdings Inc.: Pramode Metre, Stanton C. Jee, 35, was promoted to Stribling Marketing Associates: Steven M. Rutter, 47, joined as executive vice developing the alliance president, managing director. He was SALARY $150,000-plus formerly a senior managing director at Corcoran Group Marketing. RECRUITER Harris Rand Lusk DOWNSIDE Trying to protect the waterfront during a time of intense ARCHITECTURE & DESIGN private development McKissack Group Inc.: Michael J. Kaleda, 49, was promoted to executive vice UPSIDE Having the opportunity to expand the organization president from senior vice president. Michael P.Marino Sr., 58, was promoted A network of groups and individuals, the alliance is working to reclaim to vice president, rail and transit, from and preserve the waterfronts and waterways of New York and New WIRELESS COSTS SKYROCKETING? director, rail and transit. Jersey via education, grassroots activity and media advocacy. Originally William Prettitore, 54, joined as vice a program of the Municipal Art Society, the MWA is trying to establish president. He had been a senior manager itself as a freestanding nonprofit. —KIRA BINDRIM at URS.

Most businesses overpay by 20-40% FINANCE & INSURANCE for mobile wireless service each month. BNY Jaywalk: Nicholas J. Colas, 42, joined as director of research. He had been director of equity research at Rochdale Take control today. Team up with New York’s wireless Securities. partner from associate. president of affiliate relations and expense-management experts. Download your complimentary First Capital: Tom Berner, 52, joined as Kathleen M. Emberger, 33, was promoted national accounts at Court TV. white paper, “Balancing Productivity and Profitability” executive vice president and general to counsel from associate. Sherman’s Travel magazine: Norman at www.calliwave.com/crains. counsel. He had been a partner at Katten Dechert: Jeffrey M. Katz, 44, joined as Vanamee, 39, was appointed editor in Muchin Rosenman. partner. He had been a senior attorney at chief. He had been deputy editor at Rodman & Renshaw: John Chambers,44, Milbank Tweed Hadley & McCloy. Departures magazine. was promoted to president from senior Latham & Watkins: Melissa Alwang, 42, managing director. was promoted to partner from associate. REAL ESTATE Siesko Partners: David M. Siesko, 45, Jennifer Buczek Ezring, 35, was Apollo Real Estate Advisors: Paul founded the firm as principal. He was promoted to partner from associate. Simmons, 44, joined as partner. He had Policy Design | Rate Optimization | Auditing | RFP | Provisioning formerly global chief claims officer at Loren Finegold, 34, was promoted to been a managing director at GE iWave, 55 Broad St, NYC [email protected] (212) 344-6302 Zurich Financial Services. partner from associate. Commercial Finance Real Estate. Watch Hill Partners: Peter P.Buckley, 52, John Giouroukakis, 34, was promoted to CB Richard Ellis: Robert Flippin, 45, joined joined as partner and head of private partner from associate. as executive vice president. He had been placements, a new position. He had been Noreen Kelly-Najah, 33, was promoted to international director and managing a managing director and head of equity partner from associate. director at Jones Lang LaSalle. private placements at J.P.Morgan David Stewart, 44, was promoted to Cushman & Wakefield: Diana Biasotti, Securities. partner from of counsel. 39, was promoted to managing director McKenna Long & Aldridge: Richard S. from director. HEALTH CARE Gordon, 49, joined as partner. He was LeRoy Wilde, 43, was promoted to MediZine Inc.: Eileen Bruno, 42, was formerly a partner at the Gordon Law managing director from director. named vice president of sales and Firm, which he founded. Praedium Group: Michelle Wells, 31, joined marketing for MDminute. She had been Nixon Peabody: Eugene F.Bannigan,65, as vice president. She had been vice a solutions manager at Thomson joined as counsel. He had been a partner president at AIG Global Real Estate. Healthcare. at Morgan Lewis & Bockius. The Treeline Cos.: Dara A.L. Coope, 35, Brooks Crandall, 45, joined as vice Stroock & Stroock & Lavan: Keith M. was named vice president and general president of sales and marketing for Andruschak, 41, joined as special counsel. counsel. She had been an associate at Remedy and the RemedyDirect database. He had been counsel at Clifford Chance. Rivkin Radler. He had been sales development manager for Parade publications. MEDIA & ENTERTAINMENT SERVICES Jamie Blocher, 28, joined as sales director AMC: Michele Solomon, 32, joined as vice Battalia Winston International: Lisa for MDminute. He had been senior president, ad sales marketing. She had Tromba, 45, joined as a vice president. national accounts manager at MD Net been director of marketing solutions at She had been a principal at Edward W. Guide Publications-Intellisphere. Discovery Networks. Kelley & Partners. St. Mary’s Foundation for Children: Jan MSG Entertainment: Jonathan Hochwald, Beliefnet Inc.: Cathy O’Brien, 47, joined Mittan, 47, joined as vice president of 40, was named executive vice president, as president and chief operating officer. development. She had been executive productions. He was formerly president She had been group publisher of growth director at Maria Fareri Children’s of Madstone Productions, which he markets at Time Inc. Hospital. founded. L-3 Communications: Michael T. Strianese, Skin Cancer Foundation: Dan Latore, 34, O, The Oprah Magazine: Maureen Mooney, 50, was promoted to chief executive and was appointed director of corporate 38, was promoted to advertising director president from interim chief executive partnerships. He had been an account from advertising manager of O and and chief financial officer. executive at CBS Digital Media. O at Home. MAC AIDS Fund: Nancy Mahon, 42, was Michael Small, 43, was promoted to named executive director and vice HIGH TECH & NEW MEDIA executive marketing director from president of MAC Cosmetics. She had IncrediMail Ltd.: Javier Salom, 29, joined marketing and promotion director of been executive director of God’s Love as director of business development, a O and O at Home. We Deliver. new position. He had been a vice Popular Science magazine: Peter NetPixel Inc.: Albert K. Simmons,46, president at Miramax Film Corp. Michalsky, 41, joined as marketing joined as chief executive. He was Register.com: Larry Kutscher, 42, was director. He had been a private equity formerly a national vice president at appointed chief executive. He had been consultant. Comsys IT Partners. a senior vice president and general Primedia Enthusiast Media, Digital: Greg —adrianne pasquarelli manager at Dun & Bradstreet. Goff, 45, was appointed president. He was formerly general manager at Knight LAW Ridder Inc. EXECUTIVE PROMOTIONS Cleary Gottlieb Steen & Hamilton: Juan G. ReelzChannel: Aymon DeMauro, 46, The fastest way to get an announcement into Giráldez, 34, was promoted to partner joined as senior vice president of ad Crain’s is to submit the information online. from associate. sales. He had been a vice president at Go to www.newyorkbusiness.com and click on Duane McLaughlin, 35, was promoted to ESPN. “Executive Moves”; then click on the link to fill partner from associate. Geoff Figgis, 47, joined as vice president out the submission form. The Executive Moves Breon S. Peace, 35, was promoted to of affiliate relations. He had been column is also available online.

54 | Crain’s New York Business | November 13, 2006 BUSI NESS LI VES TABLE TALK by Bob Lape wheat grass and fresh herbs. face-off,or just for the pleasure of it. Hanson. The menu ranges from eel 7Square moves to the top of the to chocolate cake, successfully, theater district restaurant roster, COMMENTS? [email protected] thanks to a gifted kitchen and car- first among modern American ones. ing service. ■ SEVEN ★★ BEST OF BOB LAPE 350 Seventh Ave. (212) 967-1919 Following are other restaurants WINES 78 choices, 22 by the in the theater district or near glass Madison Square Garden. PRICE RANGE $19-$30 La Masseria ★ ★ WINE MARKUP 80%-350% 235 W. 48th St. (between Broadway RESERVATIONS Suggested and Eighth Avenue), Manhattan. HOURS Lunch, Mon.-Sat., 11:30 (212) 582-2111. A rustic Italian farm- a.m.-4:30 p.m.; Dinner, seven house setting in the theater district days, 4:30 p.m.-midnight; stars the straightforward sea-and- Brunch, Sun., 11 a.m.-4 p.m. land cooking of Puglia, combined with the hospitality of Capri. Have even showcases some sur- dinner before the show, dessert after. prising savory sophistication Sfor the Garden gang. Seven’s Osteria Gelsi ★ ★ owner-brothers Ian and Niall Con- 507 Ninth Ave. (at West 38th roy also ride herd on Mustang Har- Street), Manhattan. (212) 244-0088. ry’s and Mustang Sally’s.Those two Appealing, affordable window on siblings, located on either side of the home-style cooking of Italy’s Office & Retail Seven,are more noted for their bars. Puglia, from two veterans—chef Availabilities: Ian says the area is now ready for this Donato Deserio and restaurateur kind of restaurant. Tony Pecora. 212.594.2700 Leading the culinary charge is slgreen.com chef Michael DeMilta, who counts Ruby Foo’s Times Square ★ ★ k ennis Waldy Malouf, David Burke and 1626 Broadway (at West 49th c bu David Waltuck among his mentors. Street), Manhattan. (212) 489-5600. Reaching New Heights. KEEP OFF THE WHEAT GRASS: 7Square, which features an open kitchen banded by a Lunch crowds are four-deep at Feng shui of food and fun at the stainless-steel urban “garden,” ranks among the top restaurants in the theater district. the lengthy first-floor bar, but in the pan-Asian extravaganza from Steve evening, it’s possible to converse on the balcony, and more than a few suits with dates settle in for innova- tive eats. Tuna tartare gets a toss with avo- Double 7’s cado and lime, and crunchy fried jumbo oysters are paired with green apple-sweet pepper relish and mus- We cater to your every wish. tard sabayon. on West Side The full appetizer roster ($9 to $15) includes sweet potato and goat neur involved in 50 restaurants in cheese ravioli with sage-brown but- New 7Square, Japan, where his nickname is “The ter sauce, grilled vegetable and Brie up-and-coming Seven Impresario.”His Tokyo-based com- risotto, and a lobster salad blend of pany, Metromet, goes all-American asparagus, citrus segments and mus- offer modern American with 7Square, billed as a modern tard-poppy vinaigrette. chophouse. I love halibut glazed with Mo- food, good value The hand-chopped, impeccably roccan seasonings and bedded on seasoned steak tartare of chef Shane warm hummus with balsamic re- seven is a lucky number for anyone McBride is a marvelous starter. duction. Crisp-skinned salmon visiting Times Square or Madison Others ($8 to $16) are bluefin tuna napped in sesame vinaigrette is plat- Square Garden. Both 7Square, a tartare, Caesar salad topped with ed with garlicky Chinese long brand-new restaurant, and Seven, poached egg and bacon, and “dirty beans. Seven has flavorful pastas by an eatery coming into its own, offer rice” risotto pumped up with an- the bunch,and desserts such as two- creative contemporary American douille, duck confit and smoked tone crème brûlée and brûlée- cooking and friendly service in easy duck ham.A tasting of four artisanal topped Key lime tart. surroundings. Both are informal hams is another worthy intro. It’s great before the tip-off or and lively, take plastic and offer There are beef, pork and lamb good value at lunch and dinner sev- chops from top purveyors. Don’t en days a week. miss tender, root beer-braised short ribs, 7Square’s gingersnap-crusted 7SQUARE ★★½ salmon, and skate with a black pep- 224 W. 49th St. per and cornmeal crust. (212) 333-7749 Pastry chef Doug Behrmann WINES 100 American wines, 12 keeps up the beat with coconut- by the glass dusted banana fritters served up PRICE RANGE $19-$34 with big scoops of rum sabayon,and deep-dish apple pie with house- WINE MARKUP 60%-150% made ice cream. RESERVATIONS Suggested The all-American wine list is HOURS Lunch, Mon.-Fri., 11:30 priced to be user-friendly,with most a.m.-3 p.m.; Dinner, Mon.-Thurs., bottles marked up only 100% over 5:30-11 p.m., Fri.-Sat., 5:30 wine store tags. 7SQUARE features all-American fare p.m.-midnight; Brunch, Sat., A friendly, accommodating ser- in a chophouse setting. East 72nd St. Park Drive North. (212) 517-2233 11:30 a.m.-3 p.m., all day Sun., vice team cossets 94 guests in clean, 11:30 a.m.-8 p.m. open space warmed by a Glen ★★★★= Outstanding An oasis of calm in New York City. Coben design of bent walnut panels ★★★= Excellent ow starring just off Broad- overhead. ★★= Very good way is Alvaro Perez, a The open kitchen is banded by a ★= Good NVenezuelan-born entrepre- stainless-steel urban “garden,” with November 13, 2006 | Crain’s New York Business | 55 Those packages aren’t going to just get up and walk to the Post Offi ce™ by themselves. But pretty close.

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