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INSIDE Mayor Diana TOP STORIES Taylor, The latest online anyone? fashion victims: —Greg David on why he’s taking vintage shops ® her seriously PAGE 2 Page 11 Apartment builders rediscover a source VOL. XXVI, NO. 31 WWW.CRAINSNEWYORK.COM AUGUST 2-8, 2010 PRICE: $3.00 of low-cost money PAGE 2 NY economy Jonathan Segal, king of the night is chugging PAGE 3 Feds dangle even as U.S. $130M, energizing upstate, downstate loses steam PAGE 3 We’re where action is, Lower Manhattan creating nearly 10% of residents eye new jobs in first half unused 9/11 funds PAGE 4 BY DANIEL MASSEY

Charlie Rangel’s after more than a year in which CUNY fundraising Greenhouse IT couldn’t land a single sales meeting, the company has finally THE INSIDER, PAGE 8 gotten its foot in the door at city busi- nesses over the past three months to pitch its workstation, server and net- work-management services. “The good news is, companies are ready to talk,”says Simon Binder,man- aging partner.“The bad news is, they’re still reluctant to make decisions.” Local executives like Mr. Binder are frequently turning to the phrase “cau- tious optimism” to describe the glim- mers of light they see in the recovery. Yet when the rebound here is compared with what’s happening in the rest of the BUSINESS LIVES U.S., a brighter picture emerges: New York City has capitalized on growth in a GOTHAM GIGS SEEDS OF CHANGE: Negotiations over See LOCAL ECONOMY on Page 27 the lease at a rebuilt market—and Oscar Blandi, he of the reining in an aggressive city agency— $600 haircut P. 29 face “some difficult days,” says co-op G ANNE FISHER on co-president Matthew D’Arrigo. artists adding business buck ennis Gotham talent to repertoire P. 29 G MOVERS & SHAKERS Riverkeepers’new gets its just keeper,Paul Gallay P. 30 G GAEL GREENE reveals desserts her repeat faves P. 31 FOOD FIGHT Not every city street INDEX Overcrowded, overregulated Hunts Point has a new bakery. It produce vendors threaten to pull up stakes just seems that way IN THE MARKETS ______4

NEW YORK, NEW YORK ______6 BY ADRIANNE PASQUARELLI SMALL BUSINESS ______12 prison than a bustling $2 billion center of commerce BY LISA FICKENSCHER NEIGHBORHOOD JOURNAL ______14 that supplies 60% of the city’s fruit and vegetable needs. The facility, the biggest such market in the cupcakes may be the cake du jour, but REAL ESTATE DEALS PLUS ______16 the terminal Produce Cooperative Market at world, is so run-down that when it rains, drivers Big Apple bakers are betting on a wider CLASSIFIEDS ______23 Hunts Point in the South Bronx is a tough place to cannot avoid stepping down from their trucks into variety of goods.New retail bakeries are FOR THE RECORD ______26 do business. ankle-deep water because the uneven ground by the rising up across the city,and their offer- EXECUTIVE MOVES ______29 Surrounded by a 10-foot metal fence topped loading docks is full of puddles. ings run the gamut from comfort

THE WEEK AHEAD ______31 with barbed wire, the 112-acre property—with its “The place is 43 years old. It needs a major face- food—frosted red velvet cake, sour squat, 1960s-era buildings—looks more like a See HUNTS POINT on Page 28 cream apple walnut pie—to exotic fare—orange wasabi mousse, black sesame cream puffs. 31 “A lot of times, people go into our 5 REPORT CFOS shops looking for cupcakes, but they’re Turnaround gurus work with less pleasantly surprised they can get a lot ELECTRONIC EDITION to do more for struggling firms P. 19 more than that,” says Marc Lino, co- founder of Billy’s Bakery. The seven- year-old business is growing fast. It be- NEWSPAPER Highest-paid finance chiefs P. 21

See NY’S JUSTDESSERTSon Page 27 photo:taylor flickr/joseph mehling dartmouth 71486 01068 0 20100802-NEWS--0002,0003-NAT-CCI-CN_-- 7/30/2010 8:20 PM Page 1

IN BRIEF Vintage stores out of fashion THE MAYOR’S OFFICE OF FILM, THEATRE & BROADCASTING, WHICH OVERSEES SHOOTING permits and tries to entice producers to work than they were three years ago. here, has become part of the newly created Online retailers like eBay, Etsy bagging Once thought of as dirty, used and Mayor’s Office of Media and Entertainment. cheap, vintage has undergone a recent The new agency will also absorb NYC customers with lots of low-priced couture makeover. Celebrities like Jennifer Lopez Media—the city’s television, radio and online and Rhianna, along with Hollywood styl- network—and the Office of Digital Brooklyn-based online marketplace that ist Rachel Zoe,have breathed new life into Coordination. It will aim to use social media BY ADRIANNE PASQUARELLI has taken the retail world by storm during these old-school fashions,prompting con- and other digital tools to enhance its five-year existence. “It started as hand- sumers to search out the one-of-a-kind communication with the public and raise the in june, Alyssa Pallett shut down her made, but now there are over 100,000 vin- items.Now,the cost of some vintage goods profile of the new media industry through dream business—an 1,100-square-foot tage items listed there.” can exceed the price of brand-new cloth- partnerships with the city. Katherine Oliver, vintage designer-clothing store on the ing at mass-market retailers and even who has been commissioner of the film office Lower East Side’s Allen Street—after less Bigger selection higher-end stores. since 2002 and president of NYC Media since than 10 months of operation. Eva Weiss make that 750,000. Etsy’s vintage wares “Vintage no longer has that stigma of April, has been named commissioner. closed her seven-year-old vintage shop, represent more than 12% of the site’s total being secondhand and tatty,” says Chris- Beauty Crisis,on East 7th Street at the end products. eBay’s vintage apparel and acces- tene Barberich, editorial director at Refin- A PROPOSAL TO ESTABLISH AN OPEN-AIR of last month, and Hannah Kurland just sories listings number close to 460,000. ery29, an online shop that also provides MARKET ON A MILE-LONG STRIP UNDER THE closed Marmalade on Ludlow Street a Other sites,such as Nasty Gal and Archived commentary. Metro-North tracks along Park Avenue—from week ago. Similarly, Love Saves the Day Vintage, are dedicated to the sector. In addition to bargain prices, some on- East 111th Street to the Harlem River at East and Atomic Passion shuttered last year. “It’s all about selection,” says Britt line marketplaces offer details of an item’s 133rd Street—would boost small businesses in The list goes on. Beemer, founder of America’s Research heritage, a plus for consumers eager to a neighborhood with too few reasonably priced It’s not just the recession hanging these Group. “Vintage customers can’t find know the history of the product they are storefronts, according to a study released last high-end thrift shops out to dry.They also something locally, but when they go on- purchasing. week by the Center for an Urban Future.The blame online retailers like Etsy and eBay. line,they find it’s cheaper and the selection “The people who are pursuing vin- plan, tentatively called La Marqueta Mile by its “The prices on Etsy kill me,” says Ms. is so much broader.” He adds that 74% of tage—that’s a big part of why they’re buy- author, the Harlem Community Development Weiss, referring to competition from the consumers are more price-sensitive today ing it,” adds Ms. Barberich. Corp., would house as many as 900 vendors in Of course, not all vintage stalls ranging from 80 to 160 square feet.
stores face extinction. Brick- and-mortar survivors like Screaming Mimi’s in NoHo have developed strategies BY THE NUMBERS that include using the Inter- net to boost sales. Some of

Weekly shift of the city’s economy the vintage listings on eBay

CORPORATE AMERICA is doing fine. But include the shop’s inventory.   consumers are fretting about jobs and home prices, and are saving more and spending Sales have stabilized less—and that’s bad news for the economy. after more than 30 years in business, owner Laura Wills began selling on the auction 15 15.4% $2.3 site four years ago. She also DAYS in July RISE in avg. daily BILLIONS of when NYC temps hotel room rate in dollars collected runs her own e-commerce hit 90° or more June, vs. a year for 2Q NYC income site, which lists everything Source: National earlier, to tax, up 2.4% from from an $18 used T-shirt to a Oceanic and $243.53 a year earlier $1,500 designer dress from Atmospheric Source: PKF Source: Office of Administration Consulting NYC Comptroller the 1950s. Sales slipped 3% in 2009 with the recession but have stabilized this year, WANING DISTRESS First-time foreclosures in New York she says. City continued to decline from year-earlier levels in the second quarter. “We’ve broadened our horizon,” she says, adding that online sales represent about 10% of her revenue. “We’ve really been working CLOTHES CALL: on our website.” Eva Weiss had to For less established brands, close her vintage however, price competition shop, Beauty Crisis. from e-commerce-only sites and rising rents have proved a lethal combination. Ms.

buck ennis See VINTAGE on Page 25 Source: PropertyShark.com

CORRECTIONS Michael Londrigan is chair of the fashion merchandising department at LIM College. His title was misstated in the July 26 article “Ick! Manhattan’s bedbug invasion bites stores.” The operating budget of the New York Public Library for fiscal A good development: more 2011 is $257 million. The figure was misstated in the July 26 article “Libraries breathe sighs of relief.” The Food Bank for New York City assists 1,000 organizations. The for its 80/20 program,which offers financ- The program has long been a boon to July 26 story “Neediest may go without as state funding dries up” Growing interest seen as misstated the number. ing for buildings where 20% of the units are the city, which is trying to expand its in- Ô Mai, which was recently sold, is open for lunch and dinner at further proof of rebound rented to low-income households and the ventory of affordable housing. It has also 158 Ninth Ave. The restaurant’s status was misstated in the July rest are leased at market rates. long been popular with developers, but 26 story “Putting the yin in Vietnamese.” in the apartment market Last year,HFA received just four appli- with the economy still shaky and financing cations. The agency says that three of the tough to find, the program has taken on vol. xxvi, no. 31, august 2, 2010—Crain’s New York Business (issn 12 current applicants either have or soon even more importance. 8756-789x) is published weekly, except for combined issues June BY THERESA AGOVINO will have the private financial backing 28/July 5, Aug. 30/Sept. 6, and Dec. 20/Dec. 27, by Crain Com- Critcal infusion munications Inc., 711 Third Ave., New York, NY 10017. Periodicals needed to qualify for the program. Anoth- postage paid at New York, N.Y., and additional mailing offices. in a promising sign for the city’s apart- er three are expected to achieve that goal by glenwood management, which is ap- Postmaster: Send address changes to: Crain’s New York Business, ment market, demand is rising for a state the end of the year, a feat that not one ap- plying for 80/20 financing for a 205-unit Circulation Department, 1155 Gratiot Avenue, Detroit, MI 48207-2912. for subscriber service: Call (888) 909-9111.Fax program that provides developers with low- plicant managed to do in 2009. building on West 39th Street, is a case in (313) 446-6777.$3.00 a copy, $59.79 one year, $109.79 two years. cost financing to construct rental units. “Developers want [HFA’s] lower-cost fi- point. Executive Vice President Gary Ja- (GST No. 13676-0444-RT) ©Entire contents copyright 2010 by Crain Communications Inc. Since the beginning of the year, 12 de- nancing,” says Steven Spinola, president of cob says the HFA money is critical. All rights reserved. velopers have filed applications with the the Real Estate Board of New York, a trade “This is the only way we would build,” New York State Housing Finance Agency organization. “It is an incentive to build.” he says.“[Without it] the rate of return just

2 | Crain’s New York Business | August 2, 2010 20100802-NEWS--0002,0003-NAT-CCI-CN_-- 7/30/2010 8:20 PM Page 2

NY gets The Segal has landed charged in energy race Upstate/downstate group Meatpacking district maven aims to win $130 million is on the cusp of creating one BY DANIEL MASSEY of country’s top eatery empires while new york’s race to secure nearly $700 million in education funding from BY LISA FICKENSCHER Washington has garnered the headlines, a quieter statewide effort to win $130 million when jonathan segal opened his first restaurant in the in federal money to improve energy effi- meatpacking district seven years ago, a gaggle of celebrities ciency in buildings—the country’s No. 1 turned up to check it out. But the person Mr. Segal most wanted source of pollution—is gaining steam. to meet was not one of those boldfaced names. It was prominent The U.S. Department of Energy is ex- restaurateur Stephen Hanson. pected to select finalists from among a “I was running around trying to find someone to introduce dozen or so states as early as this week. Of- me to him,” recalls Mr. Segal, an admirer of the B.R. Guest ficials leading New York’s bid are confident Restaurants president. the state will be among those chosen. Today, Mr. Segal’s empire, The One Group, is flourishing, In the end, though, only a single winner RECESSION BEATER: while Mr. Hanson and other major restaurant operators either will be selected in the coming months, as Jonathan Segal used the downturn to grow have closed eateries or are struggling to maintain momentum. the Obama administration his outfit. Over the past three years, Mr. Segal has nearly doubled the tries to accelerate the de- size of his portfolio. By the end of this year, it will span 25 bars velopment and implemen- 76K and restaurants across the U.S. Mr. Segal projects that The One tation of what it calls JOBS TO BE CREATED by Group will generate $100 million in revenue in 2011. If it suc- “game-changing”technol- energy- ceeds, it will join the ranks of the top 10 largest independent ogy to help green up the innovation restaurant groups in the country, according to Technomic, a real estate industry, re- push in NY restaurant research and consulting firm. sponsible for nearly 40% of The One Group’s biggest success is its STK steakhouses, the nation’s carbon dioxide emissions. which feature a late-night bar and music scene. At present, the A consortium of more than 100 educa- company boasts three STKs: the Manhattan flagship and one tion, nonprofit, government and industry each in Miami and Los Angeles. Its other properties range from groups that leaders call “unprecedented”for The Collective restaurant downtown to the Coco de Ville lounge its upstate/downstate collaboration has in L.A. proposed creating the New York Energy- “We used the recession to do as many deals as we could,” Regional Innovation Cluster to transform says Mr. Segal, a British transplant, whose personal wealth and the way energy-efficient building systems deal-making skills have helped to fuel the company’s rapid ex- are invented, developed, demonstrated and pansion. “We have become a force to be reckoned with.” deployed.In the process,the group plans to In many ways, the recession actually accelerated that create 76,000 jobs across the state. process. Most of the deals he has signed since 2008, for exam- “This ‘building hub’marks the first time ple, have included significant givebacks from landlords and de- every major industry in New York got its act velopers, such as six to 12 months’ worth of free rent and land- together to leverage our unique capabilities lord contributions of as much as $1 million to help pay for the as a job generator in the clean technology design and construction of the interior space. fields,” says Rep. Steve Israel, D-Long Is- See REVERSAL on Page 25 land, who has spearheaded efforts to bring all of the groups together. “When we knit together Wall Street, New York’s colleges

buck ennis See ENERGIZING on Page 27

man and Miller Samuel Inc. deck New cal 17, 11.3 “New York is still a renters’ town,” says Mr. 3 Spinola. e takers for 80/20 program Yet it also remains a town haunted by the 4 lines please recession. Banks are lending selectively and offering much lower amounts than they had in isn’t that great.” Medical Center is asking struction. Widespread layoffs smothered de- previous years. Consequently, the money is The HFA offers devel- The time it took for an undisclosed amount mand for apartments across the city, bringing flowing only to established developers. The opers financing at rates that for a 230-unit tower on its down rents and forcing landlords to offer all 80/20 projects are smaller than in previous are typically 1.5 to 2 per- to rent an Upper East Side campus. kinds of pricey incentives. The rent slide has years, falling from an average of $230 million centage points below mar- In addition, Two Trees now largely stopped, as have most of those in 2008 to $60 million this year. ket rates by raising the funds apartment fell expects to get bank backing pricey lures, like a month or two of free rent, “I think developers and banks are just do- through issuing tax-free for its request for $25 mil- that landlords only recently dangled. ing deals that make sense,”says Marian Zuck- bonds.But to qualify,devel- 57% in June lion in 80/20 funding for a er, an executive vice president at HFA. opers must have a letter of 205-apartment property on Falling vacancy rates Jed Walentas, Two Trees vice president, credit from a bank for the West 54th Street in Man- manhattan apartment vacancy rates, says the economy played a key role in the de- amount they are requesting. hattan.Similarly,Stahl Real which hit a high of 1.87% in November, have cision to delay the company’s Manhattan proj- The three projects that Estate Co. expects to find fallen every month since,hitting 0.9% in June, ect until this year. have gotten furthest include Glenwood’s, financing for a project at an undisclosed site. according to brokerage CitiHabitats. Mean- “It is just much easier to get financing this which is seeking $65 million. In addition,Two The interest from those developers in HFA while,the time it took to rent an apartment fell year than last,” he says. “And we believe the Trees Management is requesting roughly $20 funding marks a sharp reversal from last year, 57% in June, to 23 days, from the year-earlier outlook for apartment rentals just keeps get- million for a 105-unit project,and Mount Sinai when builders largely shunned rental con- period, according to Prudential Douglas Elli- ting better and better.”

August 2, 2010 | Crain’s New York Business | 3 20100802-NEWS--0004-NAT-CCI-CN_-- 7/30/2010 8:21 PM Page 1

Lower Manhattan residents eye IN THE MARKETS untapped Sept.11 utility funds by Hilary Potkewitz

has put the utilities on the defensive. ing the utilities infrastructure, she Community may Another vote would be needed to says. access money meant appropriate the funds for specific Con Edison,however,disagrees. uses. It has long argued that the money Rich stuff, this Merrill for infrastructure; “It’s the first step in what will re- should go to defray the costs of re- sult in a very large amount of fund- building utilities, as originally in- research on affluent Con Ed holding firm ing going to the lower Manhattan tended. Without the funding, it community, and that’s what Con- says, it will be forced to ask the ank of america’s Merrill Lynch BY JEREMY SMERD gress intended,”says Julie Menin,an state’s Public Service Commission Wealth Management group LMDC board member and the to authorize rate increases for its relaunched last fall as a more shortly after sept. 11, Congress chairman of Community Board 1. customers.Con Ed’s uncompensat- B earmarked $750 million to help cov- ed cost of rebuilding lower Man- touchy-feely brokerage.Think cow, not er the cost of rebuilding the city’s hattan infrastructure so far totals bull.They wanted to get to know their utilities infrastructure downtown. Almost nine $186 million. customers better; to listen more to Almost nine years later, more than their complex concerns, values and $200 million remains unspent, and years later, more Community or customers? residents say they—not the utili- “we still believe our customers priorities. So Merrill surveyed 1,000 ties—should be entitled to use the than $200 should be reimbursed for the costs affluent families (those with money for projects meant to bring following the terrorist attacks,” says investible assets of $250,000 or the neighborhood around Ground million remains Con Edison spokesman Michael Zero back to life. Clendenin. more) and turned the results into a The board of the Lower Man- unspent LMDC board Chairman Avi quarterly newsletter.The Affluent hattan Development Corp. ap- Schick says the decision Thursday Insights Quarterly—its fourth issue peared to side with residents last was “in the best interest of the com- came out last week—shows that, in week when it voted to lift the restric- munity downtown that’s waiting for tions on the remaining money. these funds.” some respects, the affluent aren’t so State and city officials represent- different from the rest of the U.S.: A host of good projects Ms. Menin says that the money ing the LMDC, worried about the More than half of the affluent admit last thursday’s vote means the should already have been invested in consequences of a protracted fight they lie awake at night worrying money could be used not only to the community and that the over the pot of Sept. 11 money, are compensate utilities but also to pay LMDC was remiss in allowing mil- meeting with Con Ed officials to about finances. And despite some

for World Trade Center memorial lions of dollars to languish for so work out a settlement. But reaching signs of economic recovery in the first newscom and cultural facilities, affordable long. The LMDC, created after a solution won’t be easy. Lower housing, economic development, Sept. 11 to distribute more than Manhattan community advocates half of 2010, about 45% of them think they’ll be retiring later than they had transportation, and other quality- $2.7 billion in federal grants,has the expect to get as much as $150 mil- originally planned—a big increase from January’s report, when 29% of-life improvements. legal authority to use the remaining lion of the money, while Con Ed reported needing to delay retirement. The public now has 60 days to $212.5 million for projects in the says the entire pot should go toward Another interesting Merrill finding: Younger investors are seriously comment on the proposal, which neighborhood, rather than rebuild- utilities costs.
spooked. Among young affluents up to age 34, roughly 56% say they have a lower tolerance for risk now than they did a year ago, compared with 49% of the 35- to 50-year-olds and 47% of the 51- to 64-year-olds. Some might be proud of the youngsters and their sudden penchant for more conservative investment strategies. After all, aren’t they supposed to take their recent experiences with extreme market volatility, aggressively complex financial investments,front-running money managers—in fact,the whole dang financial crisis—and learn from it? Apparently not. “A more conservative approach at a younger age can be detrimental,” says Sallie Krawcheck (pictured), president of global wealth and investment management at Bank of America, explaining that the group would miss out on market gains. “It is our job to help restore investor confidence so that risk aversion doesn’t leave the next generation of investors inadequately prepared for the future.” Or leave the next generation of brokers with inadequate commissions. The lithium treatment The Global X Lithium Exchange Traded hedge fund MC Capital, in which Mr. Fund started trading in late July, hit- Claure is an investor, asked Manhat- ting the trifecta of contemporary in- tan-based Global X Management if it vesting catchphrases: would create an ETF based on the (1) It’s an ETF. metal, and provided seed capital. (2) It involves a commodity. Global X was happy to oblige, and (3) It boasts a green-energy label. created a fund that tracks the Solac- Lithium is a soft, silvery-white tive Global Lithium Index, a basket metal that can withstand incredible of companies involved in at least heat, yet is also highly reactive and some aspect of the commodity. flammable. Its futures don’t trade on The fund launched with 20 hold- any commodity exchange, but it’s a ings—about half in companies that base metal for modern industry. mine or process lithium and half in Think lithium batteries for cell companies that make lithium batter- phones, smart phones and, more im- ies. A wise investment? You won’t portantly, electric cars. read a yes here, especially since lithi- Think, indeed: Bolivian industri- um prices (like a raft of other com- alist Marcelo Claure apparently wants modities) have tripled over the past to own lithium like there’s no tomor- decade, driving up lithium-ion bat- row. In an unusual order of events, teries to $750 per kilowatt-hour.

Average cost Speculated of a wedding price tag for $24K in 2010, $3M Chelsea

according to Brides magazine. Clinton’s weekend nuptials. bloomberg news

4 | Crain’s New York Business | August 2, 2010 Project3:fp template.qxd 6/10/10 12:38 PM Page 1

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An- represented Ms. Atkins in lawsuits con- Bess and Serlin legendary literary agent cerning the three trustees, from the initial drew Wylie shook the publishing What are the benefits payment dispute to her more-recent ef-
Weil Gotshal & world two weeks ago by announc- forts to strip them of their trusteeships, Manges ing he’d made an exclusive e-book of reprints? which succeeded in Surrogate’s Court in publishing deal directly with March. Her latest lawyers, at Kobre & Amazon.com.Twenty classic titles • Offer a unique opportunity to Kim, declined to comment on the Crain’s estimate of $15 million in to- from the agent’s list, including co-brand your company with a tal bills. The suits are ongoing—as are, presumably, the billable hours. Ralph Ellison’s Invisible Man, Philip reputable news source Roth’s Portnoy’s Complaint and Hunter S. Thompson’s Fear and • Help underscore your PR efforts one gets a complaint [that seems Loathing in Las Vegas, went up for by including in press kits and to be] from us, they’ll try and sale on the front page of the Kin- recruitment pieces open it,” says Susan McMillan, sen- dle bookstore—ticking off Ran- ior vice president of business de- dom House, which insists it holds • Digital reprints boost your velopment and relationships at the the e-book rights, even though the news/press web pages and help BBB. She describes the dozens of titles came out before e-books drive traffic to your site cases reported so far to her offices were included in contracts. Reprint Plaque as “headache-inducing.” Much ado about nada, per- haps? Only Vladimir Nabokov’s Loli- istockphoto Some spirited ta has cracked the top 1,000 on Gone phishing. the Kindle best-seller list so far (it competition was ranked at 488 last Friday). ASK ABOUT OUR REPRINT PRODUCTS: (For pigeons.) The others range from 2,073 for HARD COPY REPRINTS • EPRINTS • PLAQUES a vodka with the cheeky name Portnoy’s Complaint to 11,653 Better William Burroughs BANNERS/BUTTONS • TRADE SHOW COLLATERAL • POSTCARDS businesses, beware: The Wódka is taking a literal cheap for ’ Junky.“I Business Bureau reports an increase shot at big brands like Absolut would be disappointed,” says a in phishing scams—and (irony and Smirnoff, touting its bar- publishing industry consultant, alert!) the e-scammers are using gain pricing in a campy mar- who estimates that e-titles the bureau’s own good name. keting campaign that in- ranked below 1,000 sell Contact Lauren Melesio at 212.210.0707 or A recent rash of e-mails with cludes billboards in fewer than 25 copies a [email protected] for information on how to turn an officious-looking subject line Times Square and other week. like “BBB Complaint Case Big Apple sites. An Amazon spokes- your Crain’s press coverage into great marketing. #773080627 (Ref #85-4463672- The Polish-made woman wouldn’t bite. 54034946-7-160)” instructs recip- spirit is owned by Man- “We’re really pleased ients to link to their “pending” hattan-based Panache with the sales,” she says. case. Instead, they’ll find an online Imports, which has been Mr. Wylie could not form that’s requesting scammer- pushing the brand here be reached for comment. friendly personal data like, oh, since last fall. “We are your bank account number. meeting our budget, so Contributors: Lisa Fickenscher, “Of course, we are the Better someone is losing—and Matthew Flamm, Adrianne Business Bureau, so when some- we are gaining—some Pasquarelli, Hilary Potkewitz

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Officials at City College wish people were talking less about Mr. Rangel and more about Colin Powell, MTA More obstacles THE INSIDER who launched the college’s Colin AFTER SERVICE CUTS COME THE FARE HIKES. The Metropolitan Transportation Powell Center for Policy Studies Authority announced last week that it would seek to raise prices on unlimited by Erik Engquist and Jeremy Smerd and has managed to maintain his MetroCards to help balance its sterling reputation despite having $12 billion budget. made false claims about weapons of The price of unlimited mass destruction as secretary of MetroCards could go up to $99 state.The City University system as from $89, but riders would be a whole has raised more than $1.8 limited to 90 trips per month. billion since 2004 and aims to make Alternatively, the cards could Public institutions it $3 billion by 2015. continue to offer unlimited use Mr. Rangel believes he erred in but cost $104. A public hearing soliciting donations for the school is set for September. bloomberg news on his congressional letterhead—a face private pitfalls Fare hikes are not the only uncertainty the MTA must deal with to balance verboten mix of personal and public its budget. Planned reductions in union labor costs may likewise not business. But the report of the materialize. The authority will ask its unions to accept what it calls a “net zero” llegations last week that Rep. Charles Rangel House ethics committee alleges that in 2007 Mr. Rangel, then the wage increase for the first two years of their next contracts—meaning any inappropriately used his office to raise money for chairman of the powerful Ways and increase in wages must come with givebacks that keep costs neutral. The the Charles B. Rangel Center for Public Service Means Committee, received a $1 savings would account for only $38 million in 2011, but the changes would at the City College of New York, have brought to million pledge to his Center for be substantial when the contract of the largest union, Transport Workers light the pitfalls public institutions face when Public Service from an oil executive Union Local 100, is renegotiated next year. who was seeking a tax break worth Wages and benefits make up two-thirds of the MTA’s operating expenses. Athey parlay connections to the politically powerful into cash half a billion dollars. Rangel’s The authority would like to see changes in work rules, more productivity or donations. In committee granted the tax break, larger employee contributions to health care benefits—which become 9% more seeking private and 11 days later, City College costly each year. By 2014, the authority says, it could save $203 million. capital for public received a $100,000 check. MTA officials say it is only fair that unionized workers accept pay freezes just as their their non-unionized colleagues have in the past year. The union is schools, City scheduled to get a 3% pay raise in January, and TWU Local 100 President College—like Paterson’s other John Samuelsen has not signaled any willingness to cooperate. plenty of schools investigation Transit officials are also facing political pushback as they try to eliminate a before it—is subsidy to pay for bus service in Nassau County. one important criticism in Predicted tax revenue and state appropriations, which have fallen short by ACADEMIC learning to accept former judge Judith Kaye’s 54-page more than $900 million since November 2009, are another assumption that MISTAKE: Rep. report on Gov. David Paterson’s role Charles Rangel the baggage that may blow a hole in the budget. The MTA expects $499 million from real estate believes he erred name recognition in a domestic-abuse case was buried taxes next year, but that projection may have to be revised before the MTA in soliciting on the bottom of Page 53. board votes on the budget in mid-October. donations for City brings. Although Mr. Paterson College. Last year’s $25 requested the probe, the report says newscom million bequest his office was slow to provide from the parents of former Gov. Eliot Spitzer helped launder information to investigators and Mr. Paterson might see delay as word “progressive” just once, “did not keep its public beneficial. In a footnote on Page 2, delivered a cautious response to a the family’s sullied name just as it went to pay for faculty commitment to cooperate fully the report refers to another Kaye question about stop-and-frisk members
    and scholarships at the college’s architecture school. with the investigation.” investigation, of the governor’s policing, and suppressed his receipt of World Series tickets. tendency to hammer rival Kathleen That investigation is dragging on. Rice, the Nassau County district attorney, on her centrist Rockefeller drug law stance. Why aide quit Ms. Rice, meanwhile, attempted judith kaye’s report on DJ-Gate to add some conviction to her sheds light on why Peter Kauffmann stance on Wall Street after saying quit as communications director for she was unsure whether she Gov. David Paterson. Mr. Kauffmann supported legislation to allow is portrayed as having tried to find individuals to sue financial firms out how Paterson aide David Johnson under the Martin Act. Hours after allegedly abused his girlfriend, the debate, she issued a Wall Street Sherr-Una Booker. But after learning Accountability Plan that included of Ms. Booker’s allegations in the amending the Martin Act, this police report and time to give the attorney general her order of more power to seize information protection, and from financial firms. Asked why informing the Ms. Rice omitted that during the governor, Mr. debate, a campaign spokesman says Kauffmann was she wasn’t asked. instructed to bloomberg news issue a statement David Paterson Overlooked crisis saying that claims of violence by Mr. Johnson were the state bar association is “unsubstantiated.” Mr. Kauffmann forming a task force to propose resigned March 4. solutions for New York’s “broken” Family Courts, says Steve Younger, the association’s president. Family Court Candidates field filings are up 23% since 1991, but the biz questions number of judges has not increased. There are now 4,601 filings for state sen. Eric Schneiderman, who every judge. A judge handling child had been promoting himself as the protective cases typically hears 2,100 most liberal Democrat running for a year, up 31% since 2005. Rita attorney general, did not emphasize Connerton, the supervising Family that message in the candidates’ first Court judge in Broome County, debate before a business audience and Susan Lindenauer, retired counsel last week. At the Crain’s-sponsored to the Legal Aid Society, will event, Mr. Schneiderman used the co-chair the panel.

For daily political and government news, subscribe to CRAIN’S INSIDER @ www.crainsnewyork.com/insider

8 | Crain’s New York Business | August 2, 2010 CN013831 7/21/10 4:29 PM Page 1

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VIEWPOINT MTA’s plan for action editor in chief Rance Crain publisher, vp Jill R. Kaplan he metropolitan transportation The most glaring anomaly of our transportation system is Authority—the largest network of mass that drivers cross the East River gratis, while straphangers EDITORIAL editor Xana Antunes transit connections in the world—is pay.This backward incentive snarls traffic in Brooklyn, managing editor Glenn Coleman deputy managing editors Valerie Block, teetering on the edge of financial Queens and lower Manhattan and deprives the MTA of Erik Ipsen collapse,” declares Andrew Cuomo’s 224- much-needed funds. A few politicians still have emotional contributing editor Elizabeth MacBride page blueprint for New York, which he attachments to the notion of free bridges, but many state columnists Greg David, Alair Townsend calls a “Plan for Action.” legislators are willing to impose tolls that match the subway politics editor Erik Engquist pulse editor Barbara Benson Unfortunately, Mr. Cuomo has no plan in his Plan for fare.They should at least do that. senior reporters Theresa Agovino, Action to bolster the MTA’s balance sheet. Gov. David The big money is spent on personnel, accounting for two- Aaron Elstein, Lisa Fickenscher, T Matthew Flamm, Miriam Kreinin Souccar Paterson has not offered one, either. Mayor Michael thirds of the MTA’s expenses.Those costs cannot be hacked reporters James Comtois, Amanda Fung, Daniel Massey, Adrianne Pasquarelli, Bloomberg quietly called for “open road and gateless tolling” away with a simple board vote. But the agency is making Hilary Potkewitz, Jeremy Smerd last year but has not pursued it. progress in other areas and is justified in asking for more art director Steven Krupinski deputy art directors Carolyn McClain, Abandoned by politicians, the MTA has been left to close funding.The Legislature should start with bridge tolls and Daniel Mednick nine-figure budget deficits on its own. And notwithstanding work from there. staff photographer Buck Ennis copy desk chief Wendy Zuckerman the usual chorus of complaints, the agency under Chief copy editor Thaddeus Rutkowski research editor Denise Southwood Executive Jay Walder has done a credible job of it. assistant research editor Maia Blume Last week, Mr. Walder proposed modest fare and toll Mr. Rangel’s new clothes editorial interns Carl Gaines, Emily Laermer, David Montalvo, Blaire Porter, Rachel Wexler increases and a cost-cutting program that promise to stave off rep.charles rangel is seeking donations of $200 to $5,000 www.crainsnewyork.com additional service cuts through 2014. He is also proposing a from guests at his ill-timed birthday fundraiser next week. web editor Brian Tracey senior producer Elisabeth Butler Cordova $1 fee for new MetroCards bought in the subway system, to What he really needs is a copy of “The Emperor’s New producer Kira Bindrim

motivate riders to refill old cards. Single-ride cards will incur Clothes.” After 40 years in office, he’s become oblivious, EDITORIAL AND ADVERTISING OFFICES a 25-cent fee.The savings will be modest—7 cents for each characterizing his multitude of personal financial 711 Third Ave., New York, NY 10017-5806 editorial: 212.210.0277 Fax 212.210.0799 card not printed—but the MTA,which depends on fares for indiscretions—for which he was formally charged by the advertising: 212.210.0259 52% of its revenue, must make every dime count. It took a House ethics panel last week—as innocent oversights. Cable craincom nyk The only person convinced that he is incapable of Fax 212.210.0499 public relations hit for eliminating underused buses and Entire contents ©copyright 2010 Crain station agents, but that was the right thing to do. wrongdoing is Mr. Rangel himself.That explains why he is Communications Inc. All rights reserved. ®CityBusiness is a registered trademark of MCP Other common sense changes are needed.The MTA alleged to have blithely failed to pay taxes on income from his Inc., used under license agreement. should increase its bridge and tunnel tolls more than its rental properties, accepted four rent-stabilized apartments TO SUBSCRIBE: monthly MetroCard prices.The agency has proposed the (including one for his campaign office), fundraised Call 888.909.9111; fax 313.446.6777. $3.00 a copy, $59.79 one year, $109.79 two years. opposite, inexplicably encouraging people to bring cars and unethically and committed various other violations. www.crainsnewyork.com

trucks into Manhattan. It should also remove seats from a Mr. Rangel should apologize and resign.Then his party ADVERTISING AND MARKETING few rush-hour trains and the fronts of buses to speed loading guests could celebrate the accomplishments of his career advertising director Trish Henry rather than lament its ugly end. real estate sales manager Cornelius P. Gore and unloading and reduce crowding. senior account managers Irene Irvill, Courtney McCombs, William E. Squitieri account executive Anthony Mowad sales manager, classified print & online John Gallagher CRAIN’S ONLINE POLL COMMENTS sales coordinator, print & online Lulé Haznedari newsletter product manager WHICH MONTHLY Alexis Sinclair credit Todd J. Masura 313.446.6097 METROCARD PRICE HIKE marketing director Amy Crossman Don’t forget radio director, audience development WOULD YOU PREFER? John LaMarca senior audience development manager Tarek Cotran Date of poll: July 28 NEW YORK PUBLIC RADIO POVERTY IS NOT A SPECIAL INTEREST 262 votes MAKES ITS VOICE HEARD general manager, interactive if giving hardworking New Yorkers a voice Marc Minardo i was pleased to read that the Alliance for in Albany is a crime, 32BJ pleads guilty.The web developer, interactive $99 for 90 Chris O’Donnell rides. That’s the Arts reported on the impressive success truth is that unions help focus attention on the NEW YORK PRODUCTION plenty; . 27% that New York cultural institutions have in hardships of often-forgotten low-wage New

I don’t need attracting visitors (“Richest cultural groups Yorkers struggling to make ends meet (“State production and pre-press director unlimited rides. 44%. ID’d,” July 19). Like the New York Public budget lives on borrowed time,” July 19). Michael Corsi advertising production manager Library, which topped the list, New York With more than 3 million New Yorkers Suzanne Fleischman Wies 29% Public Radio is committed to making living in or near poverty, they are not just . $104 for information and ideas accessible, free and another special interest group, but a PUBLISHED BY CRAIN COMMUNICATIONS INC. unlimited rides. available to all New Yorkers. disturbingly large segment of our population chairman Keith E. Crain I’m on the However, its yearly “visitations” were not who have no lobbyists of their own. Passing president Rance Crain subway several Neither. included. Last week alone, New York Public legislation that helps workers provide for their secretary Merrilee Crain times a day; The MTA treasurer Mary Kay Crain this option is should find Radio—which includes WNYC AM and FM, families is sound public policy.This is one case executive vp, operations William Morrow worth the extra another way to WQXR and The Jerome L. Greene where state government should be applauded senior vp, group publisher Gloria Scoby five bucks. raise money. Performance Space—had approximately for standing up to special interests and group vp, technology, circulation, 2 million “visitors” who tuned in, on average, delivering for millions of working families. manufacturing Robert C. Adams vice president/production & six times per week, or who visited our —mike fishman manufacturing David Kamis performance venue, making us one of the most President chief information officer Paul Dalpiaz “attended” cultural institutions in the city. 32BJ SEIU corporate circulation/audience We’re proud that radio is recognized as a development director Kathy Henry vital part of New York City’s cultural YOUR TURN founder G.D. Crain Jr. (1885-1973) chairman Mrs. G.D. Crain Jr. (1911-1996)

bloomberg news landscape. Crain’s welcomes submissions to its opinion pages. Send letters For this week’s questions: Go to —laura walker to [email protected]. Send columns of 475 words or www.crainsnewyork.com/poll to have your say. President and CEO fewer to [email protected]. Please include the writer’s New York Public Radio name, company, address and telephone number.

10 | Crain’s New York Business | August 2, 2010 20100802-NEWS--0011-NAT-CCI-CN_-- 7/29/2010 8:12 PM Page 1

OPINION

thought Ms.Taylor had the gravitas to interest him. Diana Taylor for But missing from the discussion is the political context. There will be substantial interest in a Taylor candidacy for mayor because the mayor? Really? moderate elements in the city— especially in the business commu- nity—will be desperate for an alter- he first time i met Diana Taylor was when she native to the predictable Democ- came to Crain’s for an editorial-board meeting as rats lining up to run. the relatively new state banking superintendent. Consider the list: Speaker Christine Quinn, defeated candi- No one knew what to expect because it was as- date Bill Thompson, Rep. Antho- sumed that Gov. George Pataki had appointed ny Weiner, Public Advocate Bill de Mayor Michael Bloomberg’s significant other either as a favor Blasio, Comptroller John Liu, T Manhattan Borough President or to curry favor with him. Scott Stringer and Brooklyn Bor- Ms. Taylor’s press aide apparently believed that. She inter- ough President Marty Markowitz. Whether in the business commu- rupted Ms. Taylor sev- Gillibrand but decided nity or public policy arena, no one’s eral times to clarify, ex- it just wasn’t possible be- heart is going to pitter-patter over pand or embellish the cause of her relationship any one of those people. superintendent’s an- with the mayor. Last Could someone like Diana Tay- swers. Finally, Ms.Tay- week, she granted a sur- lor win? The hurdles are high, but lor turned to her and prisingly frank inter- the answer is yes. For two decades, said, very icily, “Let me view to WNBC’s Melis- New Yorkers have elected mayors finish,’’ and did so quite sa Russo in which she who are fiscally conservative, law- credibly. disparaged Ms. Gilli- and-order-obsessed and willing to It was clear that the brand as someone with confront liberal special interests. In conventional wisdom no real beliefs,reiterated all but one of those five elections, about Ms. Taylor was GREG that she could have they ran as Republicans. Demo- too facile. And that’s beaten the appointed crats want to believe these were all important now that she DAVID senator and said she is accidents, but that’s clearly not is making it crystal- being urged to run for true. clear that she is a very mayor in 2013. If Ms. Taylor thinks she would independent person and that she Make no mistake: Ms.Taylor al- be a good mayor, she has an enor- sees a political future for herself as ready has many fans.After all,then- mous amount of work to do to learn the mayor leaves the same stage. Citizens Budget Commission about the city and its issues.The ef- In late June, she told The New Chairman Diana Fortuna seated her fort she puts into that task will tell York Times she had seriously consid- next to Mr. Bloomberg at a dinner us how seriously we should take ered running against Sen. Kirsten in 2000 precisely because she her.

an Point, not only would New York have difficulty meeting current pow- Hot over new er demands, but it would face further increases in the cost of energy to res- idents and businesses and become even more dependent on coal and oil cooling system to meet its energy needs. The DEC’s decision will also ad- versely affect this region’s quality of BY RONALD HICKS life. To comply, Entergy will be forced to construct two cooling tow- recent decision by the New York State Depart- ers that could each rise as high as 17 ment of Environmental Conservation to deny stories, have a footprint as large as Entergy Corp.,the owner of the Indian Point nu- Yankee Stadium, and together cost more than $1 billion to build. clear power plant, a water-quality certificate These massive structures and threatens not only Rockland County’s economic their plumes will be added to the base, but that of the entire region.The DEC based its decision viewshed of North Rockland resi- A dents and businesses already devas- on a report that found that the plant’s water-intake systems and tated by the recession. its release of water back into the Hudson River are causing harm We respect and appreciate the work of the DEC and believe it’s pos- to endangered fish. The DEC and is certain to face stiff opposition sible for it to protect and enhance the blamed Indian Point’s cooling sys- from area residents. Such require- aquatic life of the Hudson River tem, which it said needs to be con- ments and resistance could lead to the while simultaneously accomplishing verted to a closed-cycle system, or premature shutdown of Indian Point the other aspects of its mission, other best-available technology. and would wreak havoc on the local which include “the health, safety and The licenses for the plant’s reac- economy by reducing New York’s welfare of the people of the state and tors are up for renewal in Septem- supply of energy. Entergy, which is their overall economic and social ber 2013 and December 2015, and appealing the ruling, has proposed well-being.” the DEC’s decision could threaten using wedge-wire screens instead. We urge the DEC to further ex- relicensing efforts at Indian Point. Indian Point produces 2,000 plore alternatives before taking a fi- To obtain a 20-year renewal from megawatts annually of clean, reliable nal position that could change the the U.S. Nuclear Regulatory Com- energy,supplying 30% of the electric- face of the Hudson Valley and have mission, a water-quality certificate ity used by New York City and significant and long-reaching fi- from the state is needed. Westchester County. Energy is al- nancial repercussions. From what we understand, build- ready one of the major cost factors ing a new cooling system—in this that make New York one of the least Ronald Hicks is president and chief executive case, two towers—would take at least favorable locations in which to start of the Rockland Economic Development 15 years due to the necessary permits or expand a business. Without Indi- Corp., based in Pearl River, N.Y.

August 2, 2010 | Crain’s New York Business | 11 20100802-NEWS--0012-NAT-CCI-CN_-- 7/29/2010 8:11 PM Page 1

SMALL BUSINESS Venture capital funds nurture secret startups

tures and Polaris Venture Partners— workshops for the past eight weeks NYC SeedStart will share a 5% equity stake in each. in subterranean classrooms at New picks five companies “A lot of these early-stage corpo- York University’s Stern School of rations don’t get to the next stage,” Business. It all suggested interna- from among nearly says Owen Davis,the self-described tional intrigue, except for the scat- 200 entrepreneurs “serial entrepreneur” who runs the tered boxes of Honey Nut Cheerios. program. “This is a way to choose a Founders of Reducify—a seed- group of companies that are work- fund recipient that aims to help con- BY CARL GAINES ing on an important problem and sumers lower their household utility

prevent them from making some usage by monitoring their consump- buck ennis n new york city, it often schoolboy mistakes.” tion—say support from the program’s TRACKING ENERGY: Reducify’s Jonah Bloch-Johnson, Michael Glass and Michael Geraci (from left). seems like everyone has an advisers, including seasoned entre- idea for the next “must-have” Solving vexing problems preneurs, made navigating the start- piece of technology or soft- the teams selected for this inau- up process easier than it might have Murtha-Smith, for example, told a Partners. But he adds that his firm ware. Many startups, howev- gural year of NYC SeedStart are Re- been otherwise. “It feels like a world room filled with 130 or so potential hasn’t yet decided whether to in- Ier, fizzle and are forgotten—victims ducify, Lexeem, Datadog, Risktail of difference,” says Jonah Bloch- investors and supporters how his crease its investment in any team. of the short attention span that of- and Introspectr. Each offers its own Johnson. “They’ve done a fantastic team’s software lets users find a piece With Demo Day over, the prac- ten trails a lack of funds. take on how to solve a vexing prob- job bringing lots of entrepreneurs in. of information they know is out tical support that NYC SeedStart To help more of them make it to lem, from reducing risks inherent in It demystifies the process.” there, somewhere, in one of their provides to the five companies will prime time, NYC SeedStart, a joint options trading (Risktail) to search- The program provides something online accounts. “You can open our wane, but Mr. Davis says it won’t project of five venture capital opera- ing for information across social- else that many fledgling businesses application and quickly and easily disappear altogether. tions, has helped five teams of entre- network platforms (Introspectr). find elusive:a chance to connect with find a tweet or a Facebook post and “We’re investors. We want to see preneurs get money and advice from The program allowed the young very-early-stage financing. Last share it,” says Mr. Murtha-Smith. them succeed more than anything,” industry experts this summer. Each ventures to take root out of the glare Tuesday, at an event called Demo says Mr.Davis.“I mean,what do you team, chosen from among 200 en- of public scrutiny—something that Day, Reducify and the other teams Maybe, maybe not say? ‘Good luck?’ ”
trants earlier this year, received is often hard for venture-backed got a chance to pitch their business- whether these pitches will lead $20,000 to help get its idea off the companies to avoid.This year’s just- es to potential investors, allowing to more funding remains to be seen. To sign up for Crain’s ground. In exchange, the organizing announced winners diligently, and them to take their business develop- “There was a really interesting mix SMALL BUSINESS newsletter, go to partners—Contour Venture Partners, secretly, fine-tuned their business ment to the next stage. of companies,” says Peter Flint, a www.crainsnewyork.com/smallbiz. IA Ventures, NYC Seed, RRE Ven- models and concepts and attended Introspectr team member Simon general partner at Polaris Venture

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12 | Crain’s New York Business | August 2, 2010 CN013848 7/23/10 4:44 PM Page 1

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NEIGHBORHOOD JOURNAL

After the death True, it’s not Lundy’s, but of the last of the original owners in 1976, the two- story, Mediterra- the locals like it just fine nean-style build- ing with its At long last, Sheepshead Bay finds that a legend can be replaced red-tile roof stood

blaire porter empty for nearly dents are delighted. In any other part of the city, that GOODIES: The Cherry Hill Market stands out from its neighbors. 20 years until a BY BLAIRE PORTER “I never thought we would have sort of rave review might not be second Lundy’s a place like this,”says Brittany Mur- noteworthy, but in this case it most opened. It folded t’s been nearly a year since phy,standing in the middle of Cher- certainly is. The market occupies Lundy Brothers. In its heyday, the six years later, and since then, the the Cherry Hill Gourmet ry Hill’s well-stocked produce sec- hallowed ground—14,000 square seafood restaurant famous for its neighborhood’s most famous address Market opened at 1901 Em- tion.“It is convenient and beautiful, feet in the waterfront building that hearty chowders and huckleberry has been an increasingly shabby mons Ave. in Brooklyn’s and everything they sell is of great for 42 years was home to the neigh- pie regularly packed in as many as graveyard for a succession of busi- Sheepshead Bay, and resi- quality—at a great price.” borhood’s most famous name, 2,600 diners from across the city. nesses—a surprising number of I them failing even before opening day. Changing demographics as the years wore on and hopes faded for a restaurant that could re- vive the waterfront’s glory days, the neighborhood itself changed pro- foundly. Once primarily a blue-col- lar, Catholic area—birthplace to football legend Vince Lombardi and famed columnist James Brady, among others—today it is also Do you have to reach out to your banker? home to many middle-class Rus- sians, Pakistanis,Turks and Greeks. Or is it the other way around? Meanwhile, the waterfront tourist trade is long gone. “Values have changed,” says Theresa Scavo, chairman of the Sheepshead Bay Community Board. “People used to bring their kids out to go fishing, but it has got- ten too expensive.” The bottom line is that today’s Sheepshead Bay doesn’t need a 2,000- seat restaurant as much as a good high-end grocery store like Cherry Hill. What’s more, the market has helped revive a local landmark. “I am very sentimental,and I like to preserve history,but it was painful to look at the building before the market,” says Anna Kader, a broker with the neighborhood office of Ac- cord Real Estate Group. “A beauti- ful business that is right for the clientele is better [than another Lundy’s], and it has encouraged others to improve.” New decor even from a distance, the market contrasts with the other ground- floor tenants in the building.Tattered awnings hang over a Japanese restau- rant and a small café, for example, and both have cracked window- You want a financial specialist who understands your world. A proven banking expert with a solid track record of panes.In contrast,Cherry Hill boasts ® bright-red awnings and well-pol- helping businesses realize their financial goals. When you team with Union Bank , you’ll experience a more personal ished glass. Inside, it even pays hom- banking relationship centered around your needs. Our relationship managers will put their knowledge and expertise age to its predecessor with framed to work to help streamline your treasury management operations and maximize profitability. So now a stronger pictures of the original Lundy’s that banking relationship is well within your reach. hang among clay cherry blossoms made by a local ceramic artist. With Union Bank, the world can be an easy place to do business. Pulling off that transformation Commercial Banking: Commercial Treasury Corporate & Institutional Specialized took many months of work for own- Services: Treasury Services: Financial Services: er David Isaev,who points out that he Bob Garrett Les J. Goodwin Tim Farrell Grant Ahearn had to overcome a reluctant landlord, Senior Vice President Senior Vice President Vice President Senior Executive Vice President a host of local skeptics, and the city’s 415-705-7160 213-236-5159 917-639-4437 213-236-7514 vast bureaucracy,which hit him with no less than 46 stop-work orders. “I was in war in Israel and saw nothing like this,” says the former Israeli army soldier. In the end, he says, the response ©2010 Union Bank, N.A. from his new neighbors has con- Union Bank is a proud member of the Mitsubishi UFJ Financial Group (MUFG), vinced him the effort was worth- one of the world’s largest financial organizations. unionbank.com while. “I know they want me here,” Mr. Isaev says. “It is obvious; the store is always busy.”

14 | Crain’s New York Business | August 2, 2010 CN013839 7/22/10 6:27 PM Page 1

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REAL ESTATE DEALS PLUS

on the 21-story, 470,000-square- Watch this space Banks cut developers slack foot building owned by The Durst for Swatch rival Organization. Meredith is current- ly housed in offices at 125 Park Ave. swiss watchmaker swatch will ow that the residential real estate market is and 375 Lexington Ave., according soon have some new competition showing signs of improvement, banks are BIG DEALS to its website. here.Milan-based ToyWatch,which DOWNTOWN A Meredith employee at the com- also sells colorful, midpriced time- suddenly feeling more confident and are pany’s Des Moines headquarters in- pieces,recently signed a 10-year lease granting extensions on construction loans. Top leases, year to date. sists the company isn’t moving, and for 400 square feet at 509 Madison Ave., Just last week, German-based Bayerische SQUARE a call to a senior real estate official at between East 52nd and East 53rd Landesbank gave the developers of 75 Wall St. a two-year TENANT FEET the company wasn’t returned. streets.The asking rent for the space, N But real estate sources say a move which also includes a 200-square- extension on their $263 million construction loan.The loan Deloitte & Touche 400K is likely,and SL Green Realty,which foot mezzanine and a 600-square- for the financial district condo conversion being done by Kenyon & Kenyon 200K bought 125 Park Ave. foot basement, was near Hakimian Organization, Peykar Brothers Realty and Gorjian earlier this year, clear- $600 a square foot. Healthfirst 172K ly believes it may lose a The five-year-old Properties matured on April 30. substantial tenant. company is planning to New York Liquidation 117K Last month, O’Connor Capital Partners, the developer of Bureau “During the under- open its first U.S. store writing phase of the here in the autumn. landmark Upper East Side condo were made in 2007. Under normal Daily News 100K acquisition,we knew it “They’ve been whole- conversion Manhattan House, also conditions, those buildings should Source: Downtown Alliance was uncertain whether saling in the U.S.,but this got a two-year extension from a have been sold out last year, Mr. the building would be is their first retail foray,” bank. Its $750 million construction Martin adds. able to continue ac- says Faith Hope Conso- loan will now mature in December Instead, only 36% of 75 Wall commodating Mere- lo, the Prudential Dou- 2013. St.’s 346 luxury condominium units Meredith close dith’s evolving space glas Elliman broker who, Similarly, the developer of 505 are sold, and as of July 1, only 137 to inking deal needs. Therefore, we along with colleague W. 47th St. recently won an exten- units have been sold or are in con- began planning for Joseph Aquino, repre- 205 E. 42nd St. sion for its $44 million loan. tract at the 575-unit Manhattan media giant meredith corp. is possible backfilling of sented ToyWatch. She “Markets have picked up, so House. close to signing a deal for about the space,” says a added that the company banks feel like some of these projects will But developers say sales are im- 200,000 square feet at 205 E. 42nd St., spokesman for the company. is targeting 10 U.S. cities, including sell,” says Richard Martin, senior proving. Since the beginning of the between Second and Third avenues, Meredith has about 143,000 Miami and Washington, D.C. The vice president at DE Capital Mort- year, 10 more units have gone into real estate industry sources say. square feet in the building and was watches are already available at retail- gage. “A year ago, everything was contract at 75 Wall St. At the same Meredith, the Des Moines, looking to expand, but there is not ers including Neiman Marcus, frozen, so they were worried that time, more than 60% of the 108 Iowa-based publisher of magazines enough vacant space in the property. Bloomingdale’s and Henri Bendel. nothing would sell.” units at 505 W. 47th St. are now such as Ladies’ Home Journal and A spokesman for Durst declined Landlord Kensico Properties Several big construction loans, sold. Family Circle, has been scouring the to comment. was represented in-house. which typically are for two years, —amanda fung market for a while and has zeroed in —theresa agovino —adrianne pasquarelli

16 | Crain’s New York Business | August 2, 2010 CN013845 7/23/10 3:52 PM Page 1

Chase Helps Small Business Go Hire

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Introducing the Chase Loan for Hire. When your small business is approved for a new loan, you get an immediate half-point rate discount for each new employee you hire, up to three employees. And if your business checking is also with Chase, you’ll get another half point on top of that. That’s as much as 2% off our lowest rates in years, which could save you thousands of dollars. It’s the Loan for Hire. Only from Chase. The only loan designed to reward you for hiring employees.

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Some restrictions, eligibility requirements, and fees may apply. All lines of credit are subject to credit approval by JPMorgan Chase Bank, N.A. Credit approval will depend on the credit profiles of the business and any guarantors, the line amount, and the availability of property as collateral in which Chase can obtain first lien position. Businesses with annual sales revenues of $10 million or less are eligible. Offer applies to new lines of credit between $10,000 and $250,000 and to existing lines which are increased by $10,000 or more. Chase reserves the right to cancel this offer anytime without notice; however, this offer will still apply to lines that are already booked and applications for lines that are being processed prior to cancellation. Lines will be evidenced by Chase documentation for the Chase Business Line of Credit. Offer not valid in combination with any other lending offer. Lines must be opened by December 31, 2010 to be eligible for this offer. Chase may ask for additional information as borrower’s request for credit is processed. Interest rate reduction for hiring new employees: On or before December 31, 2010, borrower must provide certification satisfactory to Chase that borrower has (i) during the period beginning on June 29, 2010 and ending on December 31, 2010, increased the net number of persons employed by borrower and (ii) with respect to each such person, retained a completed Form I-9. Any interest rate reduction will become effective 14 to 30 days following Chase’s receipt of borrower’s certification. Chase will reduce the rate at which interest would otherwise accrue to the unpaid principal balance of the promissory note by 0.50% of each such net increase of person employed by borrower, up to three persons and a maximum interest rate reduction of 1.50%. Interest rate reduction for having business checking: If the Chase business checking account is ever closed, the additional 0.50% rate reduction will no longer apply. Federal law requires all financial institutions to obtain, verify, and record information that identifies each person or business that opens an account. © 2010 JPMorgan Chase Bank, N.A. Member FDIC. Equal Opportunity Lender. CrainsConnect2comp15.pdf 1 7/28/10 11:22 AM Project2:fp template.qxd 7/29/10 1:35 PM Page 1

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 20100802-NEWS--0019-NAT-CCI-CN_-- 7/29/2010 2:26 PM Page 1

CFOS INSIDE HIGHEST-PAID CFOs in the New York area PAGE 21 “Martin Franklin kisses the frogs to see which might be princesses.” —Ian Ashken, CFO, Jarden Corp., Page 20 Hard to spin turnaround tales lately Gurus to today’s struggling firms find value in the small victories were being made by court-approved BY ELAINE POFELDT Chief Restructuring Officer Nat Wasserstein, a crisis manager at NS when jeffrey kaiserman sold his Wasserstein & Co. in Manhattan. window and related vinyl manufac- Mr. Wasserstein was hired to run turing businesses to an investment and stabilize the companies during group 11 years ago for $23 million, a period of about two months before they were raking in a profitable $17 they were put up for auction. million in annual sales.But by 2007, NorthEast Windows, which sup- Taking action plied many contractors in the Bronx before the sale, cash flow at and Queens, and its sister company, NorthEast Windows and Quality Quality Lineals, which made com- Lineals was extremely tight. Some ponents used in window frames, vendors required C.O.D. payments suffered financial woes exacerbated or, in certain cases, cash in advance by the building industry slowdown. before shipping supplies. Mr. As a result, the two companies Wasserstein stabilized sales at the filed for Chapter 11 bankruptcy equivalent of $8 million a year,down protection in December 2008. In from a run rate of $11 million,so the February 2009, Mr. Kaiserman two companies could keep up with bought them out of bankruptcy for the payroll and supplies needed to $1.5 million,plus about $500,000 in fill orders. He discontinued low- legal costs and other expenses. He profit-margin product lines and was confident he could revive the those that were labor-intensive or businesses and knew that the ma- required expensive resources—and chinery and other assets were worth eliminated slow-paying customers. more than that. This year, Mr. Kaiserman is In preparation for the purchase, thrilled that,after establishing cred- TO THE RESCUE: Mr. Kaiserman used some of the it for both companies—now re- Jeffrey Kaiserman $1.5 million to buy out a $965,000 named NorthEast Windows USA bought NorthEast note from a bank that had loaned it and Quality Lineals USA—and ex- Windows and Quality to the companies. Owning the debt panding his sales team, they are on Lineals out of gave him the legal standing to ap- track for combined 2010 revenue of bankruptcy. prove spending decisions at the $10 million to $11 million. “It was

buck ennis troubled companies. The decisions See HARD on Page 20 CFO’s key role in acquisitions, strategy Jarden’s Ian Ashken vironmental lawsuits. the future Jarden partners. In 1987, CEO of Alltrista, a $200 million Rye-based Jarden, a $6 billion when Mr. Ashken was starting his manufacturer of Ball-brand home works alongside CEO conglomeration of well-known accounting career at Price Water- canning supplies. He renamed it on major decisions household and outdoor brands like house & Co., Sir James was a PW Jarden and—with Mr. Ashken’s Mr. Coffee and Coleman camping client—and Mr. Franklin’s father’s help—began buying up manufac- gear, ultimately withdrew its bid. business partner. turers of well-known consumer BY FRAN HAWTHORNE Icing deals may seem an atypical brands, including Diamond match- CFO duty. But in more than 20 Building a business es and First Alert smoke alarms. jarden corp. had made a $16 mil- years working with Chief Executive apprenticing under his father Mr. Ashken isn’t the only CFO lion bid for pencil manufacturer Martin Franklin, at Jarden and else- and Sir James, Mr. Franklin hired now enjoying an expanded role. Dixon Ticonderoga Co. in 2004, where, Mr. Ashken, 50, has been a Mr. Ashken as his No. 2 finance of- “The job was once only about the when Jarden Chief Financial Of- key player in acquisitions and other ficial. As Goldsmith-style hostile numbers and capital side,” says Jef- ficer Ian Ashken discovered a lia- strategic decisions. “The lines blur takeovers lost favor, Mr. Franklin frey Kotzen, a Boston Consulting JARDEN’S bility that wasn’t on the balance between what the CFO and CEO and Mr. Ashken began building Group senior partner in New York. MAN: Ian Ashken sheet. By mining the company’s do,” he says. their own business, cobbling to- “Now CFOs engage in strategy.” handles due history, Mr. Ashken unearthed a Ironically, a master of corporate gether a small chain of eye-care Mr. Kotzen and other consult- diligence in long-gone brick-making subsidiary breakups, British raider Sir James stores. ants say that as CFOs were analyz- acquisitions. whose use of silica could mean en- Goldsmith, indirectly introduced In 2001, Mr. Franklin became See JARDEN on Page 20

August 2, 2010 | Crain’s New York Business | 19 20100802-NEWS--0020-NAT-CCI-CN_-- 7/29/2010 2:29 PM Page 1

REPORT CFOS

means a turnaround specialist will discovered that most rival condo- focus on completing a transaction miniums were advertised at 2006 Hard to spin turnaround tales like a loan modification, which will prices,but that salespeople immedi- buy time but not necessarily solve ately offered big discounts.“I would Continued from Page 19 “A lot of troubled businesses lack core problems as a traditional turn- see a very nice unit with water views worth every penny I paid [for BIGGEST adequate financing options because around would. “That’s hoping the and three bedrooms and the asking them],” he says. “We’re profitable.” of the banking situation,” says Fred economy improves and raises all price was $3.6 million,” he says. Excited about the increase in THREATS Gunzel, an independent turn- boats,” he says. “They’d say, ‘I can give it to you for year-over-year sales, he encouraged around consultant. $3 million.’ ” IN A POLL of corporate renewal Turnarounds tough in NYC his 21-year-old son, Steven, to help professionals in December, the If a struggling business is able to Realizing that this approach him run NorthEast. “There’s busi- Turnaround Management boost sales, reinvesting the resulting against this dreary backdrop, might raise doubts about pricing ac- ness out there,”Mr.Kaiserman says. Association found that 92% of funds in the company may be tough the high cost of doing business in curacy in buyers’minds—as it did in “You have to be really aggressive respondents cited economic because incoming checks may be New York City can make turn- his own—he based the advertised about getting it.” conditions as the greatest threat owed to factors or asset-based arounds tougher than they are else- selling prices at Riverhouse on the Welcome to the world of turn- to distressed industries for 2010. lenders. “[Checks] go to a lockbox,” where. That means a brutally realis- units’current value.Acknowledging arounds in 2010, where few of those says Mr. Wasserstein.“You’ve got to tic approach is the only effective one. that the market was far from its peak involved expect miracles, and victo- OF RESPONDENTS said basically beg the bank to release your After sales of apartments stalled at did the trick. Since Centurion Real ries that might have been consid- too much debt is one funds so you can meet payroll, buy Battery Park City’s Riverhouse in Estate Partners became involved, 78%of the top two internal reasons ered unimpressive in boom times that companies in these sectors materials and expedite whatever you early 2010, the majority partner the building has sold or closed more can seem monumental. It is so hard will face problems. need to expedite.” sought help in March from Centuri- than 25 units,which currently go for to boost sales that many companies On top of this,even mismanaged on Real Estate Partners, which had around $1.2 million to $8.5 million; are happy with simply staying alive, CITED LACK of access firms have usually cut general, ad- experience selling condominiums in units in the $3 million range are says Mr. Wasserstein. to capital as one of ministrative or sales costs by now to New York City and California. At most popular. 52%the top two reasons. To be sure, it’s always difficult to survive the recession, says Mr. the time, rumors flew as existing “We’re negotiating by a couple of resuscitate a troubled company, THE INDUSTRIES expected to have Wasserstein. “There was a lot more apartment owners worried that the percentage points, as opposed to by thanks in part to the tendency of the greatest operational difficulty fat in companies that needed turn- bank or owner would unload the re- 20% to 25%,” Mr. Tashjian says. managers and owners to delay seek- were: arounds 10 years ago,” he says. maining units in a bulk sale,says John “Our contracts are sticking.” ing help until it’s almost too late. REAL ESTATE RETAIL AUTOMOTIVE Nationwide, turnaround condi- Tashjian, a founder of Centurion. While Mr. Tashjian acknowl- “They see it as a reflection of their tions have become so difficult that To determine how to move the edges that the Riverhouse turn- own failure,” says turnaround spe- 35% 31% professionals in the field are now de- high-end condos, Mr. Tashjian says around has a way to go,he does point cialist James Sinclair. Some, he 75% bating exactly how to define a turn- he personally comparison-shopped out that the building is now 80% adds, are in denial. Mr. Sinclair be- around, says Turnaround Manage- every potentially competitive unit sold. “We’re getting there,” he says. gan advising struggling hospitality tract is quite serious,”he says.“It ex- ment Association Chairman Patrick he could find in other buildings. He These days, that’s saying a lot.
companies in cities including New presses,to a certain extent,that mar- Lagrange. “The nature of a turn- York and Las Vegas through his tial law is about to happen.” around has changed dramatically,” firm, OnSite Consulting, after buy- says Mr. Lagrange, who is based in ing and reviving a few of his own. New obstacles Manhattan as managing director of Jarden CFO’s key role Even if lenders force a company many turnaround specialists who merchant bank Carl Marks Adviso- to work with a turnaround consult- work in and around New York City ry Group.“You’re not seeing as many ant because bankruptcy seems like- say their jobs are more difficult to- classic turnarounds where you go in Continued from Page 19 times its earnings. ly, the owners tend to resist it—re- day than after the post-Sept. 11 and cut costs and fix operations. In- ing the financial aspects of mergers Lauren Lieberman, a Barclays quiring tough measures, such as slowdown for several reasons. First, stead, you’re seeing companies that and acquisitions in recent years, Capital household and personal- their complete removal from the it’s nearly impossible to secure cash will do what they can to survive.” their companies requested that they care product analyst, considers the scene, says Mr. Sinclair. “Our con- infusions for many distressed firms. In some cases, he says, that also consider the deals strategically. diverse line beneficial. “No one Moreover, the 2002 Sarbanes-Ox- thing can derail performance,” she ley Act increased CFOs’ duties— says. and personal liabilities. The business plan seems effec- Mr. Ashken says that when Jar- tive. Jarden qualified for the 2008 den is weighing an acquisition, Fortune 500, and boasted a stagger- The place for “Martin kisses the frogs to see which ing 170% return last year. might be princesses.” When Mr. Mr. Ashken attributes that suc- Franklin sees a potential fit, the pair cess partly to the financial crisis and INSPIRATION discuss its strategic merits. If they Jarden’s strategy of buying market- agree—and mostly they do—Mr. leading brands. Tough times create OCEAN PLACE. THE PLACE FOR MEETINGS. Ashken handles due diligence, a flight to quality, he says. while Mr. Franklin meets with the target’s management. Unfamiliar to investors Trade your boring meetings, boardrooms and cubicles The two confer on issues like nonetheless, the stock has been for a ballroom with a view of the Atlantic Ocean and whether to include outside in- far more volatile than the Standard team building activities on the beach - how’s that vestors. Mr. Ashken handles ulti- & Poor’s 500 in the past five years. for motivating your team? Shake up your next group mate bargaining-table negotiations. Mr. Franklin claims that’s because Jarden usually finances its deals investors aren’t familiar with Jarden meeting, corporate retreat or training event by bringing with a mix of cash, debt and, some- and “haven’t seen how it performs in your group to Ocean Place Resort & Spa in Long Branch, times, equity.Thanks to restructur- down cycles.” Indeed, the compa- New Jersey and see what a difference a little salt air ing, say both partners, leverage—as ny’s profile is so low that few Wall can do. What better place for your next meeting? Call high as 3.6 times earnings in 2007— Street analysts follow it. us today at 800-411-7321 to discuss your next event, was reduced to 2.7 at the end of the Despite his success,Mr.Ashken’s or visit us online at www.oceanplace.com to view our first quarter of 2010. career was largely accidental. He meeting space and package options. Due in part to the recession, grew up near Cambridge, England, since August 2007 Jarden has in a family of doctors. “I thought I’d bought only one company, Nuk do something different,”he says.His baby bottle maker Mapa Spontex, grandfather suggested accounting. CMP RATES FROM $299 which it purchased for $500 million Mr. Ashken moved to the Unit- Special Rates in April. ed States in 1987 to marry an Amer- ALL NEW MEETINGS BOOKED FOR SEPTEMBER THROUGH Mr. Franklin says Jarden’s cur- ican woman. DECEMBER 2010 RECEIVE A COMPLIMENTARY BEACH BONFIRE rent product line “is so broad and While the Ashken-Franklin — JUST MENTION THIS AD! strong, we feel no pressure to buy bond doesn’t extend to their social more.”Before 2007, Jarden’s growth lives—the two men say they spend was fueled by acquisitions and exist- enough time together on business— ing products.Since then,growth has the relationship changed Mr. been primarily organic. Ashken’s life. Two years after they Jarden’s product lines lack syner- began working together, Mr. gy, Mr. Ashken admits. But he says Franklin recalls, Mr. Ashken told LONG BRANCH, NEW JERSEY 800.411.6493 • WWW.OCEANPLACE.COM all targets possess “high cash flow, him: “You’ve ruined me. My life’s good distribution channels and aim was to make partner at Price market-leading brands.” Jarden also Waterhouse,and now I can never go *Some restrictions apply. Complimentary beach bonfi re offer not valid on previously booked business, new bookings only. Complimentary beach bonfi re only valid for groups of 25 or Complimentary beach bonfi re offer not valid on previously booked business, new bookings only. Complimentary beach bonfi *Some restrictions apply. Must be booked by 8/31/2010. more. Blackout dates apply. aims to buy each target for under six back.”

20 | Crain’s New York Business | August 2, 2010 20100802-NEWS--0021-NAT-CCI-CN_-- 7/29/2010 2:31 PM Page 1

REPORT CFOS New York Area’s Highest-Paid CFOs Ranked by 2009 compensation (figures in thousands, unless otherwise noted) Company
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August 2, 2010 | Crain’s New York Business | 21 20100802-NEWS--0022-NAT-CCI-CN_-- 7/29/2010 2:31 PM Page 1

REPORT CFOS

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22 | Crain’s New York Business | August 2, 2010 nb31p23-24cl.qxp 7/30/10 2:23 PM Page 23

PUBLIC & LEGAL NOTICES HOLIDAY SHOPPING BAGS Notice of Qualification of NCM SRLP Notice of Qualification of CANDLE Notice of Qualification of C-III Realty NOTICE OF FORMATION OF Brook 2010-1, LLC. Authority filed with FAMILY FOODS, LLC. Authority filed Services LLC. Authority filed with NY Farm Group LLC. Article of Secy. of State of NY (SSNY) on with Secy. of State of NY (SSNY) on Dept. of State on 7/8/10. Office loca- Organization filed with the Secretary 07/14/10. Office location: NY County. 06/16/10. Office location: NY County. tion: NY County. Princ. bus. addr.: of State of NY (SSNY) on 5/11/2010. LLC formed in Delaware (DE) on LLC formed in Delaware (DE) on 200 Whitsett St., Ste. 100, Greenville, Office location NEW YORK County. 04/27/10. Princ. office of LLC: 9 W. 10/28/09. Princ. office of LLC: 1307 SC 29601. LLC formed in DE on SSNY has been designated as agent 57th St., 15th Fl., NY, NY 10019. Third Ave., NY, NY 10021. SSNY des- 7/2/10. NY Sec. of State designated upon whom process against it may be SSNY designated as agent of LLC ignated as agent of LLC upon whom as agent of LLC upon whom process served. The Post Office address to upon whom process against it may process against it may be served. against it may be served and shall which the SSNY shall mail a copy of be served. SSNY shall mail process SSNY shall mail process to the LLC mail process to: c/o CT Corporation any process against the LLC served to c/o Corporation Service Co. at the princ. office of the LLC. DE System, 111 8th Ave., NY, NY 10011, upon him/her is C/O the LLC 161 (CSC), 80 State St., Albany, NY addr. of LLC: c/o Allstate Corporate regd. agent upon whom process may Chrystie Street. New York, NY 10002. 12207-2543. DE addr. of LLC: c/o Services Corp., 32 W. Loockerman be served. DE addr. of LLC: 1209 Purpose of LLC: to engage in any CSC, 2711 Centerville Rd., Ste. 400, St., Ste. 201, Dover, Cnty. of Kent, Orange St., Wilmington, DE 19801. lawful act or activity. Street address Wilmington, DE 19808. Arts. of Org. DE 19904. Arts. of Org. filed with Arts. of Org. filed with DE Sec. of of Principal Business location is: 161 filed with The Secy. of State of DE, Secy. of State of State of DE, Corp. State, 401 Federal St., Dover, DE Chrystie Street. New York, NY 10002. Dept. of State, Div. of Corps., 410 Dept., Townsend Bldg., Dover, DE 19901. Purpose: any lawful activity. Federal St., Dover, DE 19901. 19901. Purpose: Any lawful activity. NOTICE OF FORMATION of Purpose: Any lawful activity. NOTICE OF FORMATION OF FSC SUSHICONE LLC. Arts of Org filed Notice of Formation of Judd BARBER - ZZANO L.L.C. Articles of with the Secy of State of New York Notice of Formation of 232 EAST Foundation 101 Spring Street Organization filed with Secretary of (SSNY) on 4/20/10. Office location: BROADWAY LLC. Arts. of Org. filed Manager, LLC. Arts. of Org. filed State of New York (SSNY) on NY County. SSNY designated as an with Secy. of State of N.Y. (SSNY) on with NY Dept. of State on 7/2/10. 05/07/2010. Office location: NY agent upon whom process may be 7/13/10. Office location: New York Office location: NY County. Sec. of County. SSNY has been designated served and shall mail a copy of any County. SSNY designated as agent State designated agent of LLC as an agent upon whom process process to the principal business of LLC upon whom process against upon whom process against it may against the LLC may be served. The address: 242 E 83 St., #3D, NY NY it may be served. SSNY shall mail be served and shall mail process to address to which SSNY shall mail a 10028. Purpose: any lawful act. process to: c/o Ira Meister, Matthew the principal business addr.: Judd copy of any process against the LLC BUSINESS OPPORTUNITY Adam Properties, Inc., 127 East 59th Foundation, 101 Spring St., NY, NY is to: FSC Barber - Zzano L.L.C., 191 Notice of Formation of KP Southampton Street, New York, NY 10022. 10012, Attn: Flavin Judd, regd. Chrystie Street, Suite #2F, New York, LLC. Arts. of Org. filed with NY Dept. We are based in the Malaysia, we Purpose: any lawful activity. agent upon whom process may be NY 10002. Purpose: To engage in served. Purpose: any lawful activity. of State on 4/9/10. Office location: are in exporting and trading of any lawful act or activity. NY County. Sec. of State designated Notice of Formation of Chop’t 1285 as agent of LLC upon whom process Dried Battery Cells, PET Flakes, Sixth LLC. Arts of Org. filed with Notice of Formation of Chop’t 80 Pine Copper Scrap, HMS 1&2, Used 93 Madison LLC. Arts of Org filed against it may be served and shall Secy. Of State of NY (SSNY) on LLC. Arts of Org. filed with Secy. Of Rails, Aluminium Scrap and other with NY Sec of State (SSNY) on 7/1/10. mail process to the principal business 7/20/10. Office location: NY County. State of NY (SSNY) on 7/20/10. addr.: c/o Katz Properties, 247 W. scrap materials, in the direct order SSNY designated as agent of LLC Office location: NY County. SSNY Office: New York County. SSNY des- ignated as agent of LLC upon whom 30th St., 11th Fl., NY, NY 10001. of business ethics, we are tested upon whom process against it may be designated as agent of LLC upon Purpose: any lawful activity. and trusted to have offered a very served. SSNY shall mail process to: whom process against it may be process may be served. SSNY shall good service to our customers, and the LLC, c/o Chopt, Attn: President, served. SSNY shall mail process to: mail copy of process to: 107 Madison 853 Broadway, Suite 606, NY, NY the LLC, c/o Chopt, Attn: President, Street, Apt. 1B, New York, NY 10002. Notice of Qualification of Two Sigma this is not about to change. We 10003. Purpose: any lawful activity. 853 Broadway, Suite 606, NY, NY Purpose: Any lawful activity. Holdings VC Acquisition Vehicle IV, hope to meet serious and clean 10003. Purpose: any lawful activity. LLC, Authority filed Sec’y of State buyers as well. Please do not (SSNY) 10/7/08. Office loc.: NY ALEXANDER AND IRINA LLC a Notice of Formation of Pressprich hesitate to inquire from us at... County. LLC org. in DE 10/3/08. SSNY domestic Limited Liability Company Funding II, LLC, Art. of Org. filed [email protected]. Notice of Formation of 216 EAST 28TH desig. as agent of LLC upon whom (LLC), filed with the Sec of State of Sec’y of State (SSNY) 7/9/09. Office STREET LLC. Arts. of Org. filed with Secy. process against it may be served. NY on 6/10/10. NY Office location: loc.: NY County. SSNY designated of State of NY (SSNY) on 5/30/01. Office SSNY shall mail copy of proc. to Attn: New York County. SSNY is designated as agent of LLC upon whom location: NY County. SSNY designated Matthew B. Siano, 379 W. Broadway, as agent upon whom process against process against it may be served. as agent of LLC upon whom process 5th Fl., NY, NY 10012. DE office addr.: EXECUTIVE the LLC may be served. SSNY shall SSNY shall mail copy of proc. to c/o against it may be served. SSNY shall mail CSC, 2711 Centerville Rd., Wilmington, mail a copy of any process against Lehman & Eilen, Attn: Leslie Marlow, process to: c/o Vickers Management DE 19808. Cert. of Form. on file: RECRUITER the LLC served upon him/her to The Esq., 50 Charles Lindbergh Blvd., Corp., 428 E. 83rd St., NY, NY 10028. SSDE, Townsend Bldg., Dover, DE LLC, 2207 Broadway, Unit 10L, NY, #505, Uniondale, NY 11553. Purp.: Purpose: any lawful activity. 19901. Purp.: any lawful activities. NY 10024. General Purposes. any lawful activities. POSITION AVAILABLE Name of Foreign LLC: P. SCHOENFELD Notice of Qualification of PennantPark Name of LLC: Diana Rabin Accounting Quantitative Trader - New York, NY - Notice of Qualification of HEALTHCARE ASSET MANAGEMENT GP LLC. App. LLC. Arts. of Org. filed with NY Dept. FINANCE GROUP, LLC. Authority for Auth. filed NY Dept. of State: SBIC GP, LLC. Authority filed with Resp. for the design, implementation NY Dept. of State on 7/12/10. Office of State: 5/27/10. Office loc.: NY Co. and administration of an automated filed with Secy. of State of NY (SSNY) 12/24/08. Jurisd. and date of org.: DE Sec. of State designated agent of location: NY County. Princ. bus. addr.: trading system which electronically on 06/07/10. Office location: NY 12/10/08. County off. loc.: New York LLC upon whom process against it County. LLC formed in Delaware (DE) Cty. Princ. bus. loc.: 1350 Ave. of the 590 Madison Ave., 15th Fl., NY, NY trades US equities primarily intra-day, 10022. LLC formed in DE on 5/7/10. may be served and shall mail on 05/23/08. Princ. office of LLC: 199 Americas, 21st Fl., NY, NY 10019. & whose underlying logic is not NY Sec. of State designated agent of process to: c/o Diana Rabin, 16 W. Water St., NY, NY 10038. SSNY des- Sec. of State designated as agent of 23rd St., 4th Fl., NY, NY 10010, regd. dominated by a mean-reversion of ignated as agent of LLC upon whom foreign LLC upon whom process LLC upon whom process against it may be served and shall mail process agt. upon whom process may be the residuals ex- a regression to what process against it may be served. against it may be served. The Sec. of served. Purpose: any lawful act. can be explained by a linear regression SSNY shall mail process to the LLC State shall mail copy of process to: to: c/o CT Corporation System, 111 8th Ave., NY, NY 10011, regd. agent of individual equity returns to major at the princ. office of the LLC. DE 1350 Ave. of the Americas, 21st Fl., NY, market index & sector returns or addr. of LLC: c/o United Corporate NY 10019. Addr. of foreign LLC in upon whom process may be served. Name: A&J REAL PROPERTIES LLC Services, Inc., 874 Walker Rd., Ste. DE is: National Corporate Research, DE addr. of LLC: c/o The Corporation Art. Of Org. Filed Sec. of State of similar PCA (principal component C, Dover, DE 19904. Arts. of Org. Ltd., 615 South DuPont Hwy., Dover, Trust Co., 1209 Orange St., Wilmington, NY 03/31/2010. Off. Loc.: NY Co. analysis). Req. Ph.D. in Math, Finance filed with DE Secy. of State, Div. of DE 19901. Auth. officer in DE where DE 19801. Arts. of Org. filed with DE SSNY designated as agent upon or Physics, plus one yr exp. in field. Corps., John G. Townsend Bldg., 401 Cert. of Form. filed: DE Sec. of State, Sec. of State, Loockerman & Federal whom process against it may be Also req. knowledge in developing Federal St. - Ste. 4, Dover, DE 19901. Townsend Bldg., Dover, DE 19901. Sts., Dover, DE 19901. Purpose: any served. SSNY to mail copy of & implementing high frequency Purpose: Any lawful activity. Purpose: any lawful activity. lawful activity. process to THE LLC, c/o Paras strategies, C/C++ & develop & traded Diamond Corp., 592 Fifth Avenue, on several strategies based on Notice of Qualification of COHESIVE 3rd Floor, New York, NY 10036. proprietary signals with Sharpe ratio. CAPITAL (GP), L.P. Authority filed Purpose: Any lawful act or activity. Apply with HAP Trading, LLC at Place your business card in Crain’s Business with Secy. of State of NY (SSNY) on [email protected], Job 07/21/10. Office location: NY NOTICE OF QUALIFICATION OF Connection and reach New York City’s #QT0801 County. LP formed in Delaware (DE) Bogart + Bogart LLC. Articles of Top Level Executives on 07/06/10. Princ. office of LP: c/o Organization/Application for Authority Cohesive Capital Partners, 650 5th filed with the Secretary of State of Ave., 31st Fl., NY, NY 10019. SSNY New York (SSNY) on 06/01/10. N.Y. designated as agent of LP upon Office Location: New York County. REAL whom process against it may be LLC formed in Deleware on 01/14/10 served. SSNY shall mail process to SSNY has been designated as agent ESTATE Don’t miss the LP at the addr. of its princ. office. of LLC upon process against it may Name and addr. of each general be served. The P.O. address to which OFFICE SPACE Crain’s City Facts partner are available from SSNY. DE the SSNY shall mail a copy of any ASTORIA QUEENS addr. of LP: c/o Corporation Service process against the LLC served upon & Book of Lists! Co., 2711 Centerville Rd., Wilmington, him/her is C/O the LLC: 16192 Coastal Medical Office Space Available DE 19808. Arts. of Org. filed with Hwy, Lewes, DE. 19958. The Principal Secy. of State of DE, Dept. of State, Business Address of the LLC is: 23 For Lease, Recently built. Div. of Corps., John Townsend 8th Ave, NY, NY 10014. Dissolution 2,500 - 10,000 sq ft. Call owner, Bldg., Dover, DE 19901. Purpose: date: N.A. Purpose of LLC: To 917-709-02222 Any lawful activity. engage in any lawful act or activity.

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PUBLIC & LEGAL NOTICES

Notice of Qualification of APTHORP Notice of Qualification of PROTIUM Notice of Qualification of BSE Ventures Notice of Qualification of AMERICA-CV NOTICE OF FORMATION OF StyleIcon SENIOR MEZZANINE LLC. Authority MASTER MORTGAGE LP. Authority LLC. Authority filed with NY Dept. of NETWORK, LLC. Authority filed with Solutions LLC. Article of Organization filed with Secy. of State of NY (SSNY) filed with Secy. of State of NY (SSNY) State on 5/27/10. Office location: NY Secy. of State of NY (SSNY) on filed with the Secretary of State of on 06/23/10. Office location: NY on 06/25/10. Office location: NY County. LLC formed in DE on 5/26/10. 06/08/10. Office location: NY County. NY (SSNY) on 06/07/2010. Office County. LLC formed in Delaware (DE) County. LP formed in Delaware (DE) NY Sec. of State designated as LLC formed in Delaware (DE) on location NEW YORK County. SSNY has on 06/22/10. Princ. office of LLC: on 08/14/09. Princ. office of LP: 200 agent of LLC upon whom process 10/14/09. Princ. office of LLC: 13001 been designated as agent upon whom Apthorp Management LLC, c/o The Feil Park Ave., 29th Fl., NY, NY 10016. against it may be served and shall NW 107th Ave., Hialeah Gardens, FL process against it may be served. The Organization, Seven Penn Plaza, NY, NY SSNY designated as agent of LP mail process to the principal business 33018. SSNY designated as agent of Post Office address to which the SSNY 10001. SSNY designated as agent of upon whom process against it may addr.: 345 Park Ave., 41st Fl., NY, NY LLC upon whom process against it shall mail a copy of any process against LLC upon whom process against it may be served. SSNY shall mail process 10154. DE addr. of LLC: c/o National may be served. SSNY shall mail the LLC served upon him/her is C/O the be served. SSNY shall mail process to to Corporation Service Co. (CSC), 80 Corporate Research, Ltd., 615 S. process to the LLC at the princ. LLC 300 E. 76th St. Apt. b2. New York, the LLC at the addr. of its princ. office. State St., Albany, NY 12207-2543. DuPont Hwy., Dover, DE 19901. Arts. office of the LLC. DE addr. of LLC: NY 10021. Purpose of LLC: to engage DE addr. of LLC: 2711 Centerville Rd., Name and addr. of each general of Org. filed with DE Sec. of State, 2711 Centerville Rd., Wilmington, DE in any lawful act or activity. Street Ste. 400, Wilmington, DE 19808. Arts. of partner are available from SSNY. DE 401 Federal St., Dover, DE 19901. 19808. Arts. of Org. filed with Secy. address of Principal Business location Org. filed with DE Secy. of State, Div. of addr. of LP: CSC, 2711 Centerville Purpose: any lawful activity. of State, Div. of Corps., 401 Federal is: One Union Square South Ste. 20A. Corps., 401 Federal St., Ste. 4, Dover, Rd., Ste. 400, Wilmington, DE 19808. St., Ste. 4, Dover, DE 19901. New York, NY 10003. DE 19901. Purpose: Any lawful activity. Purpose: The purchase and sale of Notice of Qualification of CIM/46 Purpose: Any lawful activity. residential mortgage loans on the E57th St. (NY), LLC. Authority filed secondary market. Notice of Formation of 2146 Nostrand Notice of Registration: Kim Lee CPAs with Secy. of State of NY (SSNY) on Notice of Formation of CMA REAL Avenue Associates LLC. Arts. of Org. LLP. Certificate filed with Sec of State 7/8/10. Office location: NY County. ESTATE MANAGEMENT, L.L.C. Arts. filed with Secy. of State of NY (SSNY) of NY (SSNY) on 7/7/10. Office loc: NOTICE OF FORMATION OF PRO- LLC formed in Delaware (DE) on of Org. filed with Secy. of State of on 6/15/10. Office location: NY County. New York County. SSNY designated FESSIONAL SERVICE LIMITED LIA- 7/2/10. SSNY designated as agent NY (SSNY) on 07/07/10. Office loca- SSNY designated as agent of LLC upon as agent of LLP upon whom process BILITY COMPANY. NAME: JONATHAN of LLC upon whom process against tion: NY County. Princ. office of whom process against it may be served. against it may be served. SSNY shall KOBLENZER, MD PLLC. Articles of it may be served. SSNY shall mail LLC: 330 W. 75th St., NY, NY 10023. SSNY shall mail process to: c/o The mail process to: 1261 Broadway, Suite Organization were filed with the process to: Paracorp Incorporated, SSNY designated as agent of LLC LLC, 1412 Broadway, 3rd Fl., NY, NY 302, New York, NY 10001. Purpose: Secretary of State of New York 40 E. Division St., Ste. A, Dover, DE upon whom process against it may 10018. Purpose: any lawful activity. Certified Public Accountancy. (SSNY) on 06/04/10. Office location: 19901, also the address to be be served. SSNY shall mail process New York County. SSNY has been maintained in DE. Arts of Org. filed to the LLC at the addr. of its princ. Notice of Formation of FOURTH FLOOR designated as agent of the PLLC with DE Secy. Of State, 401 Federal office. Purpose: Any lawful activity. NOTICE OF QUALIFICATION OF ASTAR, upon whom process against it may OFFICE ASSOCIATES, LLC. Arts. of LLC. Authority filed with NY Dept. of St., Ste. 4, Dover, DE 19901. be served. SSNY shall mail a copy of Purpose: any lawful activities. Org. filed with Secy. of State of NY State on 5/26/2010. NYS fictitious name: process to the PLLC, 16 East 79th BOOST FUNDING LLC a domestic (SSNY) on 06/01/10. Office location: ASTAR STUDIOS, LLC. LLC formed in Street, Suite 42, New York, New York Limited Liability Company (LLC), filed NY County. SSNY designated as Delaware (“DE”) on 4/15/2010. Office 10075. Purpose: For the practice of NOTICE OF FORMATION of Service with the Sec of State of NY on agent of LLC upon whom process location: NY County. Princ. office of LLC: the profession of Medicine. Bar LLC. Arts of Org filed with the 1/6/09 currently known as BOOST against it may be served. SSNY shall 590 Madison Ave., 21st Floor, New York, Secy of State of New York (SSNY) on PAYMENT SOLUTIONS LLC. NY mail process to c/o Arnold M. Phillips, NY 10022. Sec. of State designated NOTICE OF FORMATION of Zollinger & 6/28/10. Office location: NY County. Office location: New York County. 654 Madison Ave., 6th Fl., NY, NY as agent of LLC upon whom process Associates, LLC. Arts of Org filed with SSNY designated as an agent upon SSNY is designated as agent upon 10065. Purpose: Any lawful activity. against it may be served and shall mail the Secy of State of New York (SSNY) whom process may be served and whom process against the LLC may any process to the princ. office of the on 5/19/10. Office location: NY County. shall mail a copy of any process to: be served. SSNY shall mail a copy LLC. DE Office: ASTAR, LLC, c/o The Notice of Formation of a Limited Liability SSNY designated as an agent upon 3333 Broadway, Apt E17A, NY NY of any process against the LLC Incorporating Company LLC, 42 Read’s Company (LLC): Name: BLUELINE whom process may be served and 10031. Principal business address: served upon him/her to The LLC, Way, New Castle, DE 19720. Articles of CAMPAIGNS LLC, Organized on: shall mail a copy of any process to C/O 21 E. 7 St. NY NY 10003. Purpose: 527 Madison Ave., 16th Fl., NY, NY org. filed with Jeffrey W. Bullock, DE Sec. 07/02/2010. Office locations: New United States Corporation Agents, Inc. any lawful act. 10022. General Purposes. of State, DE Div. of Corporations, 401 York County. Purpose: Any and all 7014 13th Ave., Ste 202, Brooklyn, NY Federal Street, Suite 4, Dover, DE 19901. lawful activities. Secretary of State of 11228. Principal business address: Purpose: any lawful activity. Notice of Formation of International NOTICE OF FORMATION of Type One New York (SSNY) designated as 450 W. 17 St., Ste 1702, NY NY 10011. Daycare New York, LLC, filed under Records LLC. Arts of Org filed with agent of LLC upon whom process Purpose: any lawful act. the original name Children’s World the Secy of State of New York (SSNY) against it may be served. SSNY shall Notice of Formation of Mesh LLC, Art. New York, LLC, Art. of Org. filed Sec’y on 4/1/10. Office location: NY County. mail copy of process to: BLUELINE of Org. filed Sec’y of State (SSNY) Notice of formation of Digital of State (SSNY) 11/13/09. Office loc.: SSNY designated as an agent upon CAMPAIGNS LLC, 45 Wall St, Suite 5/24/10. Office location: NY County. Management Services Consultancy, NY County. SSNY designated as whom process may be served and 1613, New York, NY 10005-1919. SSNY designated as agent of LLC LLC Arts. of Org. filed with the Sect’y agent of LLC upon whom process shall mail a copy of any process to Latest date upon which LLC is to upon whom process against it may be of State of NY (SSNY) on against it may be served. SSNY shall 16192 Coastal Hwy, Lewes, DE dissolve: No specific date. served. SSNY shall mail copy of pro- 12/17/2009. Office location, County mail copy of proc. to c/o Reinhardt 19958. Principal business address: cess to c/o Salans LLP, Attn: Robert K. of New York. SSNY has been desig- LLP, 44 Wall St., 10th Fl., NY, NY 175 W. 79 St., #8B, NY, NY 10024. Notice of Qualification of QUIDNET Smits, Esq., 620 Fifth Ave., NY, NY nated as agent of the LLC upon 10005. Purpose: any lawful activities. Purpose: any lawful act. CAPITAL PARTNERS, LLC. Authority 10020. Purpose: any lawful activities. whom process against it may be filed with Secy. of State of NY served. SSNY shall mail process to: Notice of Qualification of COTC, LLC. Notice of Qualification of Braven Films, (SSNY) on 07/13/10. Office location: Bertine, Hufnagel Headley Zeltner Notice of Formation of COPERNICUS Authority files with NY Dept. of State LLC. Authority filed with Secy. of NY County. LLC formed in Delaware Drummond & Dohn LLP, 700 Post SOLAR, LLC. Arts. of Org. filed with on 6/18/10. Office location: NY County. State of NY (SSNY) on 6/16/10. (DE) on 05/13/10. Princ. office of Road Suite 237, Scarsdale, NY Secy. of State of NY (SSNY) on Princ. bus. addr.: 8235 Forsyth, Ste. 400, Office location: NY County. LLC LLC: 527 Madison Ave., 6th Fl., NY, 10583. Purpose: Any lawful act. 06/29/10. Office location: NY County. Clayton, MO 63105. LLC formed in DE formed in Delaware (DE) on 5/6/10. NY 10022. SSNY designated as Latest date on which the LLC may on 9/28/09. NY Sec. of State designated SSNY designated as agent of LLC agent of LLC upon whom process dissolve is 02/01/2029. SSNY desig- Notice of Formation of THE BIG SOCIAL, as agent of LLC upon whom process upon whom process against it may against it may be served. SSNY shall nated as agent of LLC upon whom LLC, a domestic LLC. Arts. of Org. filed against it may be served and shall mail be served. SSNY shall mail process mail process to the LLC at the princ. process against it may be served. with the SSNY on 03/16/2010. Office process to: c/o CT Corporation System, to: c/o The LLC, 33 West 19th St., office of the LLC. DE addr. of LLC: SSNY shall mail process to the LLC, location: NY County. SSNY has been 111 8th Ave., NY, NY 10011, regd. agent 4th Fl., NY, NY 10011, also the c/o Corporation Service Co., 2711 c/o Richard T. Carr, Jr., 4705 Center designated as agent upon whom upon whom process may be served. DE principal office. Address to be main- Centerville Rd., Ste. 400, Wilmington, Blvd., Ste. 3009, Long Island City, process against the LLC may be served. addr. of LLC: Corporation Trust Co., 1209 tained in DE: 615 S. DuPont Hwy., New Castle Cnty., DE 19808. Arts. of NY 11109. The regd. agent of the SSNY shall mail a copy of process to: Orange St., Wilmington, DE 19801. Arts. Dover, DE 19901. Arts of Org. filed Org. filed with DE Secy. of State, Div. company upon whom and at which 266 East Broadway, B207, NY, NY of ORg. filed with DE Sec. of State, 401 with DE Secy. Of State, 401 Federal of Corps., John G. Townsend Bldg., process against the company can be 10002. Reg Agent: Suhyun Pak, 266 Federal St., Dover, DE 19901. Purpose: St., Ste. 4, Dover, DE 19901. 401 Federal St., Ste. 4, Dover, DE served is Thomas A. Rice, Esq., East Broadway, B207, NY, NY 10002. any lawful activity. Purpose: any lawful activities. 19901. Purpose: Any lawful activity. Hunton & Williams LLP, 200 Park Purpose: Any Lawful Purpose. Ave., 53rd Fl., NY, NY 10166. Purpose: Any lawful activity. NOTICE OF QUALIFICATION OF Peninsula Life Solutions LLC. Notice of Qualification of Ascend Application for Authority filed with the WANT TO GET YOUR Access LLC. Authority filed with NY Secretary of State of New York (SSNY) Dept. of State on 6/15/10. Office on 9/14/2009. NY Office Location: location: NY County. Princ. bus. addr.: New York County. LLC formed in COMPANY IN FRONT OF 4 World Financial Ctr., 250 Vesey St., Delaware on 3/26/2009. SSNY has 6th Fl., NY, NY 10080. LLC formed in been designated as agent of LLC 250,000 INFLUENTIAL DE on 6/2/10. NY Sec. of State des- upon process against it may be ignated as agent of LLC upon whom served. The P.O. address to which process against it may be served and the SSNY shall mail a copy of any BUSINESS PROFESSIONALS? shall mail process to: CT Corporation process against the LLC. Served upon System, 111 8th Ave., NY, NY 10011, him/her is C/O the LLC. Corporation regd. agent upon whom process may Service Company, 80 State Street, Contact John Gallagher be served. DE addr. of LLC: The Albany, NY 12207. The Principal at 212-210-0189 Corporation Trust Co., 1209 Orange Business Address of the LLC is: St., Wilmington, DE 19801. Arts. of 1010 Wisconsin Ave., N.W., #620, for classified Org. filed with DE Sec. of State, P.O. Washington, DC 20007. Dissolution Box 898, Dover, DE 19903. Purpose: date: N/A. Purpose of LLC: To advertising opportunities. any lawful activity. engage in any lawful act or activity.

24 | Crain’s New York Business | August 2, 2010 20100802-NEWS--0025-NAT-CCI-CN_-- 7/30/2010 8:21 PM Page 1

Achenbaum, president of Gan- restaurants. restaurant. At that time, she had her sevoort Hotel Group, which also Mr. Segal notes that he holds a own event-marketing firm and a fat Reversal of roles works with celebrity restaurateur 10% equity stake in the company Rolodex of celebrities, having Jeffrey Chodorow. “But Jonathan is and played a key role in forming it, worked with many famous athletes, Continued from Page 3 Remm and Mark Birnbaum as part- a hot commodity right now.” bringing all the partners together. and she helped to get the A-list In addition, Mr. Segal’s growing ners to run the place. An animated conversationalist, crowd into Mr. Segal’s restaurant. reputation for creating fun places His early success in one of the Partners at odds who flits rapidly from one topic to “We had a lot of instant credibil- that attract crowds and generate buzz city’s hottest areas led to more part- not all of Mr. Segal’s partners are another, Mr. Segal started his ca- ity in the entertainment world,” she has helped him to score prime real es- nerships. The Achenbaum family, so enamored of him. In fact, a group reer more than three decades ago, says. tate at bargain prices.A case in point which co-owns and runs the Gan- involved in three other meatpacking working for his family’s hospitality Now, it’s the corporate world is the Grace Building on Sixth Av- sevoort Hotel in the meatpacking district spots—Bagatelle, RdV and business on the tiny British island that The One Group will be woo- enue, where he is sinking $5 million district, turned to Mr. Segal to run Kiss & Fly—say he wrongly includes of Jersey. ing. The pair hopes to capture gen- into a new STK. He is also opening their bars and eateries when they ex- them in his list of properties when in His talent is in putting deals to- erous expense-account lunches at STKs in Las Vegas and Atlanta this panded to Miami and the Turks and fact he is only a minority partner. gether. He relies on his business their new STK in midtown. (The year with help from eager landlords, Caicos, and more recently when “We are spending a lot of money partner, The One Group Senior meatpacking district STK opens at who are excited to work with a com- they built a second, soon-to-open on those brands, and [the confu- Vice President Celeste Fierro, to dinnertime.) pany with a good track record and Gansevoort Hotel in New York on sion] is not good for our expansion manage the day-to-day operation, “It won’t be a boring lunch envi- no debt on its balance sheet. Park Avenue. plans,” says Remi Laba, a partner in including overseeing a staff of ronment,” says Mr. Segal, who is “Jonathan is on a watch list of “I could have chosen other peo- 13th Street Entertainment, the 1,000. A former nurse, Ms. Fierro building a 140-seat outdoor café people to do business with,” says ple to work with,” says Michael group that owns the three bars and helped open the company’s first there as well. “It’ll be edgy.”
restaurant consultant Clark Wolf. He got there via the meatpacking district,where he began building his fiefdom of popular lounges and restaurants—including the night- club Tenjune, located in the same building as STK. Mr. Segal brought in nightlife impresarios Eugene TD BANK Vintage shops MEANS

Continued from Page 2 Weiss, owner of Beauty Crisis, paid more than $2,600 a month for rent and electricity at her 425-square-foot BUSINESS. store. “My overhead drives the cost up,” she says.“I feel like the market is bet- ter served not paying rent.” After closing her shop, she plans to focus on her Internet business and start $18,000,000 $15,000,000 selling at a flea market in Williams- burg, where she will pay just $80 for a 7-by-5-foot stall each week. Asset Based 7-Year Commercial High rents forced the Lower ______Revolving Line of Credit Real______Estate Mortgage Loan East Side’s Marmalade to concede defeat earlier last month. Ms. Kur- Victory International Kite New Jersey, LLC land had been paying nearly $4,000 USA, LLC a month for her 1,500-square-foot shop, but in 2009 the rent doubled, Edison, NJ Oakridge, NJ As sales fell 40%, Ms. Kurland had $12,180,000 $11,700,000 to put up ‘Closing Multi-Family Sale’ signs ______Construction Loan ______Permanent Loan 111 Jefferson 35 East 32nd Realty Development, LLC thanks to the high-end residential developments under construction Hoboken, NJ Midtown Manhattan, NY on her block. As sales fell 40% as a result of frugal shoppers, Ms. Kur- land was forced to put up “Closing Sale”signs in the windows of her 11- Put the power of TD Bank to work for you. year-old shop. Contact Gregory B. Braca, President – Metro New York, at 1-888-751-9000. “It just wasn’t working for me,” she says. Like Ms. Kurland, Ms. Pallett of Sweet Ones was having trouble breaking even and ended up for- feiting her $25,000 five-month de- posit when she closed up shop in June. She, too, expects the vintage market to move online, with physi- cal stores acting more like small showrooms. “I see the storefronts, in the Lower East Side especially, as art- Equal Housing Lender l TD Bank, N.A. ists’ statements,” she says.

August 2, 2010 | Crain’s New York Business | 25 20100802-NEWS--0026-NAT-CCI-CN_-- 7/29/2010 6:53 PM Page 1

FOR THE RECORD

G The New York State Office of neighborhood have ranged from $200 to $2,337,990. He now directly holds General Services signed a 10-year $300 per square foot. 137,302 shares. ABOUT THIS SECTION renewal and expansion lease for 38,000 501 Seventh Ave. G G Polo Ralph Lauren Corp. (RL) FOR THE RECORD is a weekly listing of information from the public record that square feet at , an 18- Columbia Sportswear Co. signed a story, 461,000-square-foot building 10-year lease for 6,200 square feet at 525 Roger N. Farah, president, chief can help businesspeople in the New York area find opportunities, potential owned by W&H Properties. The Seventh Ave., a 23-story, 464,000- operating officer and director, sold new clients and updates on competitors. organization will occupy the entire square-foot building owned by 525 22,810 shares of common stock at prices To ask questions or get more information on this section, contact Denise eighth floor and part of the ninth. The Delaware. The company will move into ranging from $76.13 to $76.77 on July Southwood at [email protected]. OGS represented itself in the the fifth floor. Philip Silverstein of NAI 15, in a transaction worth $1,742,477. transaction, while Jonathan Fales of CB Global represented the tenant in the He now directly holds 266,344 shares. Richard Ellis represented the landlord. transaction, while Brian Neugeboren of The asking rent was $45 per square foot. Savitt Partners and Steven Marvin of G Annaly Capital Management Inc. (NLY) Olmstead Properties negotiated the deal Michael A. J. Farrell, chairman, BANKRUPTCIES for exploratory probe and inspection G Shearman & Sterling signed a five- on behalf of the landlord. The asking president and chief executive, exercised services. The consultant will provide year renewal for 37,835 square feet at rent was $39 per square foot. options on 37,500 shares of common The following listings are selected from the technical engineering assistance to the 850 Third Ave., a 21-story, 614,000- stock at $11.72 on July 19, in a most recent available filings by companies authority’s staff. For more information, square-foot office tower owned by G Mulberry signed a five-year lease for transaction worth $439,500. seeking bankruptcy protection in the contact Donald Mezick at Shorenstein Properties. The firm will 6,000 square feet at 450 W. 15th St.,an Southern and Eastern Districts of New (718) 752-5479 or [email protected]. continue to occupy the entire fourth eight-story, 250,000-square-foot G Martha Stewart Living Omnimedia Inc. York. Information was obtained from U.S. floor. Franklin Speyer, Amy Fox, building owned by Stellar Management. (MSO) Bankruptcy Court records available on GOODS AND SERVICES William Fressle, Robert Gastel and The firm will move into part of the Martha Stewart, founder, sold 83,333 Public Access to Court Electronic Records. G Department of Citywide Administrative Jonathan Luttwak of Cushman & fourth floor. Mulberry represented itself shares of common stock at $5.04 on July Listings are in alphabetical order. Services Wakefield represented the tenant, while in the transaction, while Brandl Frey 14, in a transaction worth $420,390. She Seeks competitive sealed bids by 10:30 Matthew Astrachan and Robert Galluci, and Brian Waterman of Newmark now indirectly holds 1,053,950 shares. G Albion Property Management a.m. on Aug. 10 for laboratory specialty also of Cushman & Wakefield, Knight Frank represented the landlord. 79-17 Albion Ave., Elmhurst, Queens gases. For more information, contact represented the owner, along with Kevin The asking rent was $60 per square foot. G Colgate-Palmolive Co. (CL) Filed for Chapter 11 bankruptcy Anna Wong at (212) 669-8610 or Kuzemchak, who represented the owner Andrew D. Hendry, senior vice protection on July 17.The filing cites [email protected]. in-house. The asking rent was not president, general counsel and secretary, estimated liabilities of $1,000,001 to $10 available. STOCK TRANSACTIONS sold 1,000 shares of common stock at million and estimated assets of G Department of Homeless Services $82.89 on July 20, in a transaction worth $1,000,001 to $10 million. Among the Seeks competitive sealed bids by 11 a.m. G J. Frank Associates has signed a 12- Following are recent insider transactions at $82,893. He now directly holds 151,750 creditors with the largest unsecured claims on Aug. 19 for on-call temporary mobile year lease for 26,500 square feet at 622 New York’s largest publicly held companies shares. is Expo Home Center, owed $1,400,000. boiler units and accompanying fuel tanks. Third Ave., a 41-story, 1.1 million- filed with the Securities and Exchange A mandatory prebid conference is square-foot building owned by Cohen Commission by executives and major G ABM Industries Inc. (ABM) G Jennifer Convertibles Inc. scheduled for 10:30 a.m. on Aug. 4 at the Brothers Realty Corp. The firm will shareholders. Listings are in order of James S. Lusk, executive vice president, 417 Crossways Park Drive, Department of Homeless Services occupy the entire 36th floor. Andrew transaction value.The information was chief financial officer and principal Woodbury, L.I. Central Warehouse, 101-07 Farragut Sachs of Cushman & Wakefield obtained from Thomson Reuters. accounting officer, sold 3,654 shares of Filed for Chapter 11 bankruptcy Road, Brooklyn. For more information, represented the tenant in the common stock at $21.00 on July 8, in a protection on July 18.The filing cites contact Shirley Fleming-Morris at transaction, while Bruce Mosler, Arthur G Becton Dickinson & Co. (BDX) transaction worth $76,734. He now estimated liabilities of $10,000,001 to (212) 361-8422 or [email protected]. Mirante, Joseph Cabrera and David Henry P.Becton, lead director, sold directly holds 44,526 shares. $50 million and estimated assets of Glassman, also of Cushman & 38,550 shares of common stock at $10,000,001 to $50 million. Among the G Department of Information Technology Wakefield, represented the landlord. $69.47 on July 15, in a transaction worth G American International Group Inc. (AIG) creditors with the largest unsecured & Telecommunications The asking rent was in the low $50s per $2,678,069. He now indirectly holds Kristian P.Moor, executive vice claims are Haining Mengnu Group Co., Seeks competitive sealed bids by 2 p.m. square foot. 1,099,670 shares. president of the property casualty group, owed $16,673,770; and Ashley Furniture on Aug. 26 for off-site storage of exercised options on 1,935 shares of Industries Inc., owed $1,396,598. computer magnetic media and G New York Blood Center signed a four- G John Wiley & Sons Inc. (JW.A) common stock at $30.12 on July 9, in a documentation. For more information, year sublease for 26,000 square feet at Stephan A. Kippur, executive vice transaction worth $58,272. G Nortronics Corp. contact Anne Cody at (212) 788-6276 125 Park Ave., a 25-story, 600,000- president and president of professional 300 W. 55th St. or [email protected]. square-foot building owned by and trade publishing, sold 60,000 shares Jay S. Wintrob, executive vice president of Filed for Chapter 11 bankruptcy Shorenstein Properties. The company of common stock at prices ranging from retirement services, exercised options on protection on July 12. The filing cites G Economic Development Corp. will sublet the entire 21st floor. David $38.52 to $39.06 between July 19 and 1,474 shares of common stock at $30.12 on estimated liabilities of $100,001 to Requests proposals for consultant Lebenstien of Cassidy Turley July 21, in a transaction worth July 12, in a transaction worth $44,394.
$500,000 and estimated assets of services by 4 p.m. on Aug. 13 for the represented the tenant in the $100,001 to $500,000. Among the Department of City Planning business- transaction, while Suzanne Sunshine of creditors with the largest unsecured process reform. An optional preproposal S. Sunshine & Associates and Glenn claims are the Internal Revenue Service, session will be held at 3 p.m. on Aug. 2. Markman of Cushman & Wakefield DEALS ROUNDUP owed $117,680.84; and DoorKing Inc., Respondents must submit questions or represented sublandlord The Atlantic owed $33,774.43. request clarifications by 5 p.m. on Aug. Philanthropies. The asking rent was $55 3. For more information, contact per square foot. TRANSACTION SIZE COMPANY (IN MILLIONS) BUYERS/INVESTORS TRANSACTION TYPE Maryann Catalano at (212) 312-3969 or GOVERNMENT CONTRACT [email protected]. G FJA-US signed a 10-year lease for LightSquared Co. $1,750.0 Harbinger Capital Partners GCI OPPORTUNITIES 12,000 square feet on the fourth floor of (Manhattan) G Health and Hospitals Corp. 1040 Sixth Ave., a 24-story, 300,000- Terra-Gen Power (Manhattan) $580.0 Not disclosed GCI Following are selected contract Seeks competitive sealed bids by 2 p.m. square-foot building owned by Skyline Banca Civica $578.0 J.C. Flowers & Co. (Manhattan) GCI opportunities recently announced by New on Aug. 17 for equipment maintenance Developers. Michael Dreizen and Concho Resources Inc. $300.0 Trafelet Capital Management (Manhattan), GCI York City agencies.To learn how to sell for its Trima Accel Automated Blood Matthew Feigen of Newmark Knight Fidelity Management & Research Co., goods and services to city government, visit Collection System. For more Frank represented the tenant in the The Capital Group Cos., CPP Investment www.nyc.gov/selltonyc. For a searchable information, contact Boris Goltzman at transaction, while Billy Cohen and Board, S.A.C. Capital Management (Manhattan), database of current procurement notices, (718) 883-6000 or Matthew Leon, also of Newmark T. Rowe Price Associates Inc., BAMCO Inc. visit www.nyc.gov/cityrecord. Listings are [email protected]. Knight Frank, represented the landlord. (Manhattan), Eton Park Capital Management alphabetical by category and department. The asking rent was $46 per square foot. (Manhattan), Citadel Investment Group, CR Intrinsic Investors, Fidelity Investments, CONSTRUCTION G Prudential Investments, AST Investment REAL ESTATE DEALS Sharp Decisions signed a seven-year, Services Inc., individual investors G Department of Parks and Recreation four-month lease for 7,600 square feet at Seeks competitive sealed bids by 10:30 Companies that would like to have details 1040 Sixth Ave., a 24-story, 300,000- Doosan Corp. wholesale and $47.0 Polo Ralph Lauren Corp. (Manhattan) SB M&A retail distribution business in (unknown majority stake) a.m. on Aug. 25 for adaptive use of the of their recent transactions appear in these square-foot building owned by Skyline South Korea comfort station in Marcus Garvey Park listings should e-mail descriptions Developers. The company will occupy 424 units in Fontana, $31.5 Phoenix Realty Group (Manhattan) SB M&A in Manhattan as a Little League facility following this format to part of the 17th floor. Eric Cagner and Arlington and Evergreen and public restroom. A prebid meeting [email protected], with “Real Kyle Ciminelli of Newmark Knight apartment communities is scheduled for 11 a.m. on Aug. 6 at the estate transaction” in the subject line, or Frank represented the tenant in the Cara Therapeutics Inc. $15.0 Alta Partners, Connecticut GCI site. For more information, contact Juan enter them online at transaction, while Billy Cohen and Innovations Inc., Rho Capital Partners Alban at (718) 760-6771 or crainsnewyork.com/submitadeal. Deals are Matthew Leon, also of Newmark Inc. (Manhattan), MVM Life Science [email protected]. listed in order of square footage. Knight Frank, represented the landlord. Partners, Mitsubishi International Corp. The asking rent was $45 per square foot. (Manhattan), Scottish Widows Investment G Department of Parks and Recreation COMMERCIAL Partnership Ltd., Ascent Biomedical Ventures Seeks competitive sealed bids by 10:30 G Third Avenue Holdings signed a 10- RETAIL (Manhattan), Devon Park Bioventures a.m. on Sept. 13 for construction of an year lease for 52,000 square feet at 622 G Petco signed a 10-year deal for 20,117 Screening International $15.0 Sterling Infosystems Inc. (Manhattan) SB M&A annex to the Olmsted Center, Flushing Third Ave., a 41-story, 1.1 million- square feet at 805 Columbus Ave., a 14- Gazelle $12.0 Venrock (Manhattan), RockPort GCI Meadows Corona Park, Queens. A square-foot building owned by Cohen story residential tower owned by 805 Capital Partners, Physic Ventures prebid meeting is scheduled for 2 p.m. Brothers Realty Corp. The firm will Columbus LLC. The company will Morris Court Apartments $4.2 Not disclosed SB M&A on Aug. 12 at the site. For more occupy the entire 31st and 32nd floors. occupy part of the lower level and first (Manhattan) information, contact Juan Alban at Gregg Lorberbaum of Centric Real floor. Ripco Real Estate represented Selected deals announced for the week ended July 24 involving companies in metro New York. (718) 760-6771 or Estate Advisors represented the tenant Petco in the transaction, while Kelly GCI: Growth capital investment represents new money invested in a company for a minority [email protected]. in the transaction, while David Nevins Gedinsky and Lori Shabtai of Winick stake. SB M&A: Strategic buyer M&A represents a minority or majority acquisition of existing and Adam Karafiol represented the Realty Group represented the landlord. shares of a company without the participation of a financial buyer. G School Construction Authority landlord in-house. The asking rent was Although the asking rent was not source: capitaliq Requests proposals by 2 p.m. on Aug. 4 in the low $50s per square foot. disclosed, previous retail deals in the

26 | Crain’s New York Business | August 2, 2010 20100802-NEWS--0027-NAT-CCI-CN_-- 7/30/2010 8:22 PM Page 1

ance community are where we hope New York will beat out the compe- Energizing business tition.” Funding for the hub, which will Continued from Page 3 tial space as testing grounds for new focus on both residential and com- and universities, and private indus- technology. Developers including mercial buildings, will be spread out try, we can’t be beaten.” the Durst Organization, Tishman over five years. Some $122 million THE YUMMY The cluster would be based at Speyer and Rudin Management will come from the Department of FACTOR: Treats with a Japanese Syracuse University,which is one of Co. have agreed to participate. Energy and the rest from the De- twist (opposite 10 educational institutions state- “No other application could pos- partment of Commerce and the and below) at wide that have partnered on the ap- sibly have the kind of test bed that Small Business Administration. Takahachi’s plication. The City University of New York City provides,” says Eric bakery. Billy’s is New York, New York University Spina,vice chancellor and provost at Strong competition best-known for its and Columbia University are Syracuse University. the initiative is the third such cupcakes (center).

among the others. The city, state Media giants like McGraw-Hill project announced by the Depart- buck ennis and New York congressional dele- and News Corp. have signed on to ment of Energy. A nuclear innova- gation are also taking part. Officials develop marketing and public edu- tion hub will be based at the Oak hope federal designation of the cation materials, and the finance in- Ridge National Laboratory in Ten- NY’s just desserts cluster would attract companies de- dustry is also on board, with giants nessee,and a solar energy hub will be veloping products like energy-effi- like Citi, Deutsche Bank and Mor- led by the California Institute of cient glass, the next generation of gan Stanley pledging to help spur Technology. Continued from Page 1 At only 300 square feet, the new lighting and green HVAC systems, technology transfer and commer- New York is competing against gan in Chelsea,opened an outpost in Billy’s shop in NoLIta will be a spurring economic development in cialization of the ideas that spring states like Massachusetts and Cal- TriBeCa last year and recently signed satellite outpost when it opens this the state. from the hub. ifornia that also have plenty of on for a third shop in NoLIta. November. Similarly, 25-year-old “Market acceptance is slow, and strong academic institutions and New York has become a haven Little Pie Co.opened a 450-square- Office towers as testing grounds investment strategies and financing more impressive records of tech- for dessert destinations. There are foot shop on Greenwich Street, at despite the proposed Syracuse are not yet readily available for new nology transfer,but officials are op- currently 220 purveyors of baked Chambers Street, this past Novem- headquarters, New York City is a untested products,” says Kathryn timistic that the collaboration goods across Manhattan, according ber to supplement its 2,000-square- key piece of the application. The Wylde, chief executive of the Part- across geographic and industry to Zagat’s New York City Food foot flagship at 424 W. 43rd St. city’s real estate industry has prom- nership for New York City,a partic- barriers and the buy-in from Wall Lover’s Guide, but many more are on ised to offer up hundreds of millions ipant in the proposal. “So Wall Street will separate the state from the way. Billy’s is facing increased Looking for that difference of square feet of office and residen- Street and the financial and insur- the pack.
competition from newcomers like “it’s a ‘drop shop,’meaning that all sushi restaurant Takahachi’s bakery we do is take the product there after and Josephine, a patisserie and wine we bake it in our store, and then we travel and business groups,” John bar coming to Greenwich Street, as replenish it the next day,” says Fox, a Colliers senior vice president, well as established names like Little Arnold Wilkerson, founder of Lit- Local economy says of the New York hotel market. Pie Co. Even bigger shops are ex- tle Pie Co., of the Greenwich Street “And that’s where we’ve seen a lot of panding, such as Belgian chain Le outpost. Continued from Page 1 cations—and the prices were signif- this recovery [lately].” Pain Quotidien and City Bakery’s With so many bakeries now in mix of industries that were never icantly lower.” The city’s commercial office mar- environmentally friendly Birdbath, existence, dessert purveyors must crushed by the recession in order to Securities firms shed 2,700 jobs in ket has also started to rebound, says set to open its third outpost this find ways to make their business bounce back faster than the country the first half, but the losses likely Ken McCarthy, managing director September on Church Street. unique. For example, Baked by as a whole. would have been much steeper had it for New York area research at Cush- Unlike full-scale restau- Melissa, which has a SoHo News last week that the U.S. re- not been for the federal government’s man & Wakefield. Midtown south, rants, many of these sweets shop and recently opened covery is losing momentum raised billions of dollars in bank bailouts, downtown and midtown Manhattan shops need only small on East 14th Street, is fears of a potential “double-dip” re- which ended up having a dispropor- boast the three lowest vacancy rates spaces of 500 square known for its quarter- cession. That could crimp the city’s tionate impact on the city. And the in the nation—9.3%, 9.9% and feet or less, since bak- sized cupcakes. Chef progress, of course, since New York’s overall finance sector recovered 11.5%, respectively, according to ing can be done off- Hiroyuki Takahashi fortunes are ultimately tied to the na- strongly, bolstered by a strong show- Cushman’s data. site. Many of them are launched Takahachi tion’s. But tourism is thriving, office ing in real estate, which added 3,200 Because the city lost a smaller feeding into the back-to- Bakery in June on Mur- vacancy rates have started to drop, jobs. (Real estate has not held up proportion of its jobs in the down- basics, homegrown craze ray Street because he and the five boroughs added jobs at a nearly as well nationally, dropping turn than the nation did,and because by using all-natural ingre- couldn’t find any good brisker clip than the rest of the coun- 25,100 jobs through June.) there was little significant new con- dients and locally grown pro- bread in the city. try in the first six months of the year. struction during the boom, local va- duce—a strategy that can also help “He brought the recipes from The city has even managed so far to New Yorkers are finding jobs cancy rates are below the national av- each business distinguish itself from Japan,” says Manager Kimie sidestep many of the public-sector while the city and the U.S. share erage of 14.8%, Mr. McCarthy adds. the growing list of rivals. Kobayashi, noting that she sells 60 layoffs that are thinning state and an unemployment rate of 9.5%, New Apartment rentals are surging, an different kinds of bread. In addition, municipal work forces nationwide. York’s rate is more of a positive indi- indication that New Yorkers are con- Modest indulgences the bakery’s menu is full of items few In the first half, the city economy cator. The city has shaved a full per- fident in their ability to land jobs and “as we become more and more consumers will recognize,like mochi grew by 1.7% (or 51,500 jobs), com- centage point off its unemployment that more people are moving here to health conscious, we’re seeing a anpan (a sticky rice and red bean bun) pared with 0.6% for the U.S. rate despite the fact that its work seek work, says Economy.com’s Ms. backlash of people indulging in or kyoto matcha (green tea) mousse. (593,000 jobs), according to an force has grown by 7,900, or 0.2%, Di Natale. She also notes that in the these little rewards that get them The unfamiliarity of such products analysis of state Department of La- since its previous peak in June 2009. first quarter,the Case-Shiller Condo through the day,” says Arlene makes them attractive, and the price bor data by real estate services firm Meanwhile, the nation’s work force Price Index rose by 1.6% in the New Spiegel, who runs her own restau- of nearly $5 for such small goods Eastern Consolidated. has fallen by 1.9 million, or 1.2%, York area—the only area in the coun- rant consultancy. Television is also does little to deter patrons. One reason the city has topped since its last peak in May 2009,as the try that posted a gain, according to sweetening its lineup—Bravo will “In urban centers like the city, the nation: It relies less than other unemployed have grown discour- Fiserv and Economy.com. launch Top Chefs: Just Desserts with you have very adventurous eaters ex- metro areas do on construction and aged and given up looking for jobs. While news that the city is out- Food & Wine critic Gail Simmons posed to all types of cuisines who manufacturing, which have been “It’s a very good thing to see New stripping the U.S. on many econom- later this year. want to trade up,” says Ms. Spiegel. battered throughout the U.S. in the York’s unemployment rate falling ic fronts is positive, it’s also relative. The demand is there, and so are A lot of baked goods purveyors downturn. even though the labor force is grow- “We’re mostly ‘outperforming’ by the real estate options. Many bak- are cashing in on the old-fashioned, On the flip side, New York was ing,” says Marisa Di Natale of ‘not doing as badly,’ ” says James eries will start with one site that is big homemade trend, as customers buoyed by gains in restaurants and Moody’s Economy.com. “It means Brown, chief economist at the state enough to accommodate a kitchen move away from the processed, fat- retail trade,which both were boosted people coming back into the labor Department of Labor. and a full set of baking equipment, free movement of yesteryear. The as business travel to the city picked force or moving into the city are ac- A truly robust recovery here will and then expand to smaller outposts decor at Billy’s, for example, is de- up.Retail outlets recorded the largest tually finding jobs.” depend on the strength of a national that are used as retail outlets only. signed to evoke the spirit of Grand- gain of any city sector, showing a Plenty of indicators beyond the rebound that now appears to be los- With retail vacancy rates still high, ma’s kitchen with its tin roof, brick 10,500-job spike through June,while employment rolls point to New ing steam. For retailer Robert there is no shortage of choices. walls and Americana wallpaper.The restaurants added 7,000 jobs, East- York’s relative health. Schwartz,signs of hope started to ap- “They don’t need much space,” Upper East Side’s Two Little Red ern Consolidated reports. Hotel occupancy rates are up— pear in March,after the recession had says Roxanne Betesh, a Sin- Hens, which is currently in the Restaurateur David Kostman,co- checking in at nearly 90% in May,up taken a 20% chunk out of sales at his vin Realty broker, adding process of creating an extra kitchen founder and CEO of Nanoosh, has from a low of 68% in the first quarter three Eneslow specialty shoe shops. that most bakeries need space in Long Island City, Queens, actually used the downturn to expand of 2009, according to Colliers PKF Customers are starting to return, he between 600 square feet visits a farmer’s market for its lo- his roster of hummus eateries from Consulting USA. The average price says, but they’re buying only what and 1,200 square feet. She cally made jam. one to four, spurred in part by the per room is still below prerecession they need, not what they want. also notes that for land- And Mr. Wilkerson of availability of cheaper space. levels, but the growth in occupancy “It’s incremental daylight, not ex- lords, a bakery is a boon be- Little Pie Co. would sooner “For the last year, the big chains comes despite a surge of hotel open- ponential daylight, because we were cause it does not require sell nothing than use didn’t grow, and a lot of the banks ings over the past 18 months. looking at numbers that were horrif- the build-out of a canned fruit. “I just bake were shutting down,” Mr. Kostman “Throughout the downturn, we ic,” Mr. Schwartz says. “It’s cautious kitchen vent like a pies the way my mother says.“We were able to get premier lo- lost ground in individual business optimism, not a real optimism.”
restaurant would. baked them,” he says.

August 2, 2010 | Crain’s New York Business | 27 20100802-NEWS--0028-NAT-CCI-CN_-- 7/30/2010 5:46 PM Page 1

tomers have also been siphoned off Hunts Point food fight by big-box discount stores such as Sam’s Club, Costco, BJ’s Wholesale Club and Jetro, located in the same Continued from Page 1 way now—which are sure to address neighborhood. lift or an outright rebuild,” says the BIC conflict. In total, the number of buyers at Matthew D’Arrigo,who runs one of Following an 18-month process, Hunts Point, measured in terms of the largest businesses inside the fa- both sides agreed to a $320 million vehicles entering the compound, cility—D’Arrigo Bros. Co. of New design plan to build a modern mar- shrank by nearly 40% from the 2004- York Inc.—and is co-president of ket.The question now is the amount 05 fiscal year ended June 30 to the the cooperative. of the merchants’ new rent; that will 2007-08 year, according to the mar- depend on how much money the ket’s general manager,J.R.McIntyre. Stepped-up oversight city kicks in for the project and what To make matters worse, Philadel- the truth is, he and the other 45 it gets from state and federal govern- phia is nearly finished building a merchants in the market have long ment. A spokesman for Mayor state-of-the-art produce market and been fed up with the shortcomings Michael Bloomberg confirms that is planning to woo Hunts Point cus- of the city-owned property,blaming the city will contribute, though the tomers from central New Jersey,if not it for creating competitive disadvan- amount has not been determined. from the city.Philadelphia merchants tages that have allowed other The EDC declined to currently have some Big buck ennis wholesale businesses to grab their comment on the negoti- Apple clients. SLIDE SHOW Tour the world’s largest produce market @ customers. But in June, the mer- ations. $320M “We have never had www.crainsnewyork.com/huntspoint chants were pushed to the brink by “There is a lot of IS NEEDED to build the competition that we ➚ the Business Integrity Commission, stress surrounding this a new market, have today,” says Joel an obscure law-enforcement agency decision,” says Mr. Fierman, co-owner of to curtail the agency’s authority over operative’s members to represent that is responsible for regulating the D’Arrigo. “The negotia- money that Fierman’s Produce Ex- them. They fear that BIC will only them before city government. city’s six wholesale food markets. It tion is going to have government will change, a member of the become more invasive. The tipping point came in late has recently begun flexing its mus- some difficult days.” mostly fund Hunts Point cooperative. “I don’t think one merchant here June,when BIC issued proposed new cle by proposing new rules and jack- The market’s prob- To win back the co- wants to sign up for another 30 years rules and increased fees for the city’s ing up fees for registration and iden- lems have been a long operative’s smaller cus- in Hunts Point not knowing what markets. For example, it called for a tification cards. time in the making. It outgrew its tomers and address the expected BIC will become in the future,” says huge increase in the fee to register at Using every bit of leverage they space years ago, and merchants re- blitz from Philadelphia, Mr. Fier- Mr. D’Arrigo. the markets, to $4,000 from $250, have—including the fact that they sorted to using refrigerated truck man is spearheading its first market- and raised the price of BIC-issued provide 4,000 union jobs in one of trailers permanently parked on the ing campaign. Prospect of higher fees employee ID cards to $100 a pop. the most economically deprived grounds to store produce that won’t The advertising, which will bic, which is made up of law en- BIC officials say they are simply neighborhoods in the city—the fit inside the facility’s four buildings. launch this month, will include bill- forcement officials, was formed 10 tweaking the rules they inherited 10 produce merchants are playing Vehicular congestion has also board ads; a television network per- years ago to root out organized years ago from the city’s Depart- hardball, threatening to move if grown over the years, as trucks have sonality may be hired to be the face crime from the wholesale markets ment of Small Business Services, BIC is not reined in. In July, they gotten larger,choking out the small- of the campaign. It’s meant to pro- and the carting industry. Whole- which had been responsible for hired real estate advisory firm Jones er vans of other customers who want mote the discounts and the variety salers complain that over the past overseeing the markets. Others say Lang LaSalle to help them explore to get in to the market.Tired of bat- of produce available at Hunts Point, year, BIC has been overstepping its BIC is motivated by a need to in- their options, including relocating tling the traffic and delays, bodega which offers products shipped from authority, slapping them with exor- crease its contribution to City Hall to New Jersey when their current owners and mom-and-pop grocers, all over the U.S. and from other bitant fees, issuing tickets for trivial during tough economic times. lease expires in 10 months. for example, have mostly stopped countries. violations, and harassing them and According to BIC Commissioner Whether they remain in the shopping there, going instead to the These efforts come at a time when their customers. Michael Mansfield, the current fees Bronx hinges on their lease negoti- 32 produce businesses that have op- the produce cooperative and five oth- “It’s like having a police depart- are out of sync with what it costs the ations with the city’s Economic De- portunistically cropped up outside er wholesale markets have declared ment as your landlord,” says Charles commission to conduct investiga- velopment Corp., just getting under the fortress fence. Smaller cus- war on BIC,lobbying elected officials Slepian, an attorney hired by the co- tions and background checks.He also says that the city agency was unable to adjust the fees until “we brought the rules under the BIC mantle.” FEIL LEASE TRANSACTIONS The bigger issue for the markets is how BIC is interpreting and en- forcing those rules. The Feil Organization Is Pleased To AnnounceThe Following Lease Transactions “When SBS was in charge, they allowed the markets to manage themselves, and the rules were a guideline of what was expected,” says Mr. Slepian, the produce mer- chants’ attorney. “The markets,”he continues,“are questioning whether BIC has the authority to assume the power over these rules,” which cover everything from what the markets’ hours are to where vehicles may park inside the facilities. “We are raising the issue with the City Council.” To drive home their point, the merchants are trumpeting their role as major employers in the city—and employers that give people second 200 West 261 Fifth Avenue 841 Broadway 257 Park Seven Penn Plaza chances.Some of the markets’work- Dan Klores Pivotal Labs, Inc. Madison Square ers have not graduated from high 57th Street Avenue South school; others are looking for a fresh Communications 12,813 RSF Garden, LP St. Luke’s – Piaggio Group start after serving time in prison. Roosevelt Hospital 30,519 RSF Jonathan Anapol of Americas, Inc. 16,412 RSF The potential loss of jobs is not 21,549 RSF Greg Wang of Prime Manhattan Realty 12,281 RSF Andrew Behymer of lost on the Bronx’s borough presi- Michael Dubin of Colliers International Represented the Tenant. David Kleinhandler, Ken Rapp, Cushman & Wakefield, Inc. dent, Ruben Diaz Jr., who last Savitt Partners, LLC Represented the Tenant. and Chris Mansfield of CBRE Represented the Tenant. month hosted a meeting between Represented the Tenant. Represented the Tenant. BIC’s Mr. Mansfield and officials from the wholesale markets.In June, he wrote a letter to Mr. Bloomberg raising the question of whether BIC is overstepping its bounds. Mr. Diaz is banking on an ex- panded Hunts Point market—one Owner/Manager Seven Penn Plaza, New York 10001 T 212 563 6557 F212 563 6657 www.feilorg.com that will employ even more workers after it’s renovated. NOTHING BEATS 50 YEARS OF STABILITY. “We want them to stay here,” he says.

28 | Crain’s New York Business | August 2, 2010 20100802-NEWS--0029-NAT-CCI-CN_-- 7/29/2010 6:54 PM Page 1

1.9% The drop in state and local government jobs in New York in June vs. one year ago BUSINESS LIVES Source: The Nelson A. Rockefeller Institute of Government HOT JOBS EXECUTIVE INBOX

A CUT ABOVE: A Anne Fisher ASSISTANT VICE haircut with Oscar PRESIDENT, FINANCIAL Blandi costs $600. OPERATIONS Musicians add INSTITUTION Polytechnic Institute of New York University business skills JOB DESCRIPTION Providing direc- to repertoire tion for financial functions, review- ing budgets IN SOME RESPECTS, Margaret Peterson is no different from any MOST IMPORTANT TASKS Prepar- other small business owner. “Just ing financial statements, conduct- surviving financially is tough. You ing departmental audits, reviewing have to work at marketing legal matters yourself,” she says. “You also CREDENTIALS NEEDED 6-8 years’ have to multitask and be experience in finance, accounting, persistent. Managing your cash or related fields; B.A. in finance or flow can be a real challenge.” accounting, M.B.A preferred But Ms. Peterson’s line of SALARY VP of financial operations work is more glamorous than made $222,000 in 2007 most: She’s a mezzo-soprano. Fresh from an appearance with RECRUITER Internal the Yard Opera on Martha’s DOWNSIDE Planning budget in an Vineyard, she’ll go to China in industry that frequently faces cuts October to perform with the UPSIDE Providing leadership at Macao Opera. one of the nation’s oldest private Her biggest cash outlays are engineering schools for vocal coaches, at $200 a session, and custom-made Polytechnic specializes in engineer- dresses that cost as much as ing, applied sciences, technology $600. There’s also the cost of and research. travel to auditions in places like —EMILY LAERMER Zurich and Prague. Luckily, Ms. Peterson’s father, Harold Peterson, is a partner in accounting firm Prager & Fenton. EXECUTIVE MOVES He taught her to stay on top of her finances, which includes writing Corporate Insight: off expenses on her taxes. Michael Ellison, 38, In September, for classical was promoted to musicians in need of similar president of the savvy, Ms. Peterson’s alma mater, financial industry the Manhattan School of Music, research firm. He most recently served will launch the Center for Music as executive vice Entrepreneurship. The program president. GOTHAM GIGS includes a required course that Tribune Broadcasting: John Zeigler, 40, will delve into budgeting, record was promoted to regional vice president keeping, creating a business for innovation and imagination. He had plan, grant-proposal writing, been director of creative services for WPIX Channel 11. media relations and more. Manatt Phelps & Phillips: Claudia “Until recently, the very word Wagner, 58, joined the law firm as a Hardly Harebrained business was anathema in the partner in the government division and classical music world,” notes co-chair of the New York City oscar blandi’s publicist warns that the stylist may not have long to talk because he’s MSM President Robert Sirota, a government practice. She previously ran on the set of a magazine shoot with longtime client Kelly Ripa. But Mr. Blandi, the go- Juilliard alum. “But what her own legal practice. MSG Entertainment: to hairstylist for numerous celebrities, including Jennifer Garner and Salma Hayek, is in students often don’t realize is Alan Simkowski, 45, no hurry. He loves to chat, he says, especially with clients, making it hard to imagine him that they are not just practicing was named senior vice getting through his usual 20 haircuts a day at his Madison Avenue salon. ¶ Mr. Blandi their art; they’re also creating a president of marketing small business.” partnerships. got his first taste of the business at 14, when he started working summers in his father’s Some young musicians are Previously, he served salon in Italy.“It was an easy way for me to meet girls,” says the 44-year-old bachelor. adept at business, especially as vice president of marketing. Kate Davis, a jazz integrated sales and He came to New York 22 years ago and got a job at a small salon on Thompson Street. bassist and singer, is an MSM marketing at Vibes Media. His first star client was Jennifer Lopez. ¶ Now, Mr. Blandi has more than 100 Kelley Drye & Warren: David I. Zalman, sophomore who sells her two CDs 39, was promoted to partner from employees; a haircut with the master costs $600. He is in such demand that he had to through katedavismusic.com and associate at the law firm. turn down Tom Cruise’s request that he stay on the set during the shooting of Mission: has posted performance videos Morvillo Abramowitz Grand Iason Anello & Impossible III. Instead, he flew to Rome every two weeks to style the actor’s hair. ¶ on YouTube. Bohrer: Christopher J. Morvillo, 45, was Despite the fame, Mr. Blandi stays grounded. “It’s great to think I am a big name, but appointed principal of the law firm. He IF YOU ARE AN ARTIST, which business was formerly counsel. really I am here to give people a haircut and just hope they leave satisfied.” skills do you find essential? Tell us at

See EXECUTIVE MOVES on Page 30 —miriam kreinin souccar buck ennis www.crainsnewyork.com/execinbox.

August 2, 2010 | Crain’s New York Business | 29 20100802-NEWS--0030-NAT-CCI-CN_-- 7/29/2010 6:56 PM Page 1

RÉSUMÉ REVIEW Protecting the Hudson Is your job search all it could be? We ask the experts. Riverkeeper seeks passion and expertise and respect opportunity for folks in the commu- NAME MARK LAPORTA that is extraordinarily powerful. nity to enjoy the waterways and be- SUMMARY to remove pollution, come protectors of them.It has to do What drew you to Riverkeeper? with bringing more people to the Creative consultant with advertising promote recreation It brings together the two passions movement. experience from my career: protecting the envi- PROFESSIONAL EXPERIENCE ronment and working in nonprofits What are your thoughts about the Gulf  Edelman Digital, 2007-2009 BY EMILY LAERMER to engage communities on impor- oil spill? tant topics. First, we have to come to grips with Vice president, associate creative director: Managed creative s environmental group the fact that we are not fully development of branded sites, hosted content and social platforms  Riverkeeper’s new execu- What is your vision for the organization? equipped to drill safely in deep wa- G2 Direct & Digital, 2005-2007 tive director, Paul Gallay The first priority is to make sure the ter. Until best practices are estab- Senior copywriter: Worked in digital and print will have his hands full lob- Hudson River,its tributaries and the lished, we can’t imagine this to be a  Freelancer, 2004-2006 Abying to restrict gas drilling near the watershed are protected from pollu- one-time problem. We have to as- Senior copywriter: Digital Pulp, MarketSource, BTL Design, city’s water supply, pushing to re- tion. The second part is restoration, sure that before anything along IconNicholson move toxins from the Hudson Riv- and the third piece of the puzzle has these lines is permitted in the future,  Tangent Direct, 2001-2003 er and establishing support for the to do with the communities.There’s it is proven to be safe. Senior copywriter: Wrote direct mail and collateral organization. an opportunity to help EDUCATION How will this happen? He says he’s revitalize those com-  not intimi- munities around the We need precautions around the D.M.A., Cornell University  dated in the riverfront or the relief wells and around blowout M.M., Binghamton University  MOVERS & least about reservoirs. preventers. It’s all a question B.F.A., Pennsylvania State University SHAKERS working with about reliability, backup sys- Résumé appears in condensed form. How are you going to the group’s tems and not getting in beyond EXPERT ADVICE Paul most promi- do that? the demonstrated capacity. Just nent member, We need to connect figuring out if it can be done Mark’s résumé does not tell the story of his career successes or leverage his Gallay Robert F. as many New Yorkers right is only the start of the incredible experience with prestigious brands. To appeal to marketers and Kennedy Jr. with the recreational challenge. The real chal- advertisers, he must identify measurable gains directly attributable to his The two have and stewardship op- lenge is to make sure contributions. Without specificity, his résumé will remain a one-dimensional joined forces to help solve a raft of portunities on the that day in and day task list. A call to action to view his digital campaigns online would be an environmental issues over the past Hudson as hu- out, whatever opportunity to tell a more detailed story without cluttering his résumé. 20 years. manly possi- fossil-fuel explo- Combining a clean visual with a focus on achievement will showcase Mark’s ble. It’s a ration is done experience with great brands and give him the edge he needs. What’s it like to be working with Mr. huge oppor- is done under —jacques aboaf,senior director, recruitment marketing, Vault.com Kennedy again? tunity for the strictest It’s just fantastic. Bobby brings Riverkeeper, regulatory and To contact this candidate or to be featured in “Résumé Review,” e-mail us something to the table that virtually and an even environmen- at [email protected]. nobody in the environmental move- more im- tal-group ment does. He has a combination of portant oversight.

EXECUTIVE MOVES Domeniconi, 48, joined as senior vice previously a mediator in the New York KeyBanc Capital Markets Inc.: Greg Paul Hastings Janofsky & Walker: Alan president and chief brand officer for the City district office of the Equal Munsell, 40, joined the broker-dealer Brudner, 52, joined the law firm as a Elle Group. She most recently served as Employment Opportunity subsidiary and investment bank as a partner in the litigation department. He Continued from Page 29 vice president of U.S. advertising sales, Commission. managing director in the industrial was formerly at UBS Investment Bank, WilmerHale: David marketing and publishing for Microsoft. Consolidated Carpet: Tom Ruchalski, 56, group. He was previously a managing where he was head of litigation and Manspeizer, 46, was Iconik Enterprises: was named chief financial officer at the director in UBS’ global industrial group. investigations for the Americas. named partner in the Michael Rothstein, 52, flooring and carpet contractor. He was HNW Inc.: Bruce Marsh, 44, was named Nicholas & Lence Communications: law firm’s litigation was appointed director previously CMPM division region creative director at the marketing firm. Kathleen Engles, 54, was named vice and controversy of business controller at URS Corp. He was previously a strategic and president at the marketing firm. She was department and the development at the Media Innovation Group: Brian Lesser, 36, creative consultant. previously the owner of BE Creative PR. intellectual property real estate firm. He joined as senior vice president and general Cooley: Kathleen Nixon Peabody: Charles A. Dietzgen, 63, practice group. He was was formerly a senior manager. He was formerly vice president Pakenham, 40, joined joined the law firm as a partner in the formerly at Wyeth, associate at Marcus & of product management and director of the law firm as a corporate trust and global finance where he served as vice president of Millichap. product marketing at 24/7 Real Media. partner in the tax practices. He had been a partner at intellectual property and associate Helen Keller Services for the Blind: Cheryl Erwin Pearl Retail Inc.: Arthur Minson, practice. She was Sonnenschein Nath & Rosenthal. general counsel. A. Merritt, 53, was named managing 64, was promoted to president of the formerly a partner at Edwards Angell Palmer & Dodge: David Hachette Filipacchi Media U.S.: Robin director of human resources. She was jewelry retailer. He was formerly White & Case. L. Kovacs, 56, joined the law firm as a executive vice president. Kantar Video: Anne partner. He was previously at Hogan Gannett Digital: Craig Etheridge, 42, Drake, 48, was named Lovells, where he served as a partner. CORPORATE LADDER joined the publisher as vice president of senior vice president of analytics and Mercury Radio Arts: mobile advertising sales. He previously research. She previously served as senior Carolyn Polke, 30, was served as vice president of emerging vice president of product management promoted to vice ARTS ORGANIZATION LANDS NEW LEADER platform sales at The Weather Channel. at Kantar Media Audiences. president of digital at Hangar Design Group: Andre Gutierrez, Arent Fox: Ross J. Charap, 61, joined the the multimedia SAM MILLER, 57, was named president of the Lower Manhattan Cultural 41, joined the branding and design law firm as a partner. He was previously production company. Council, where he will be responsible for driving growth and expansion of the agency as director of brand strategy. He a partner at Moses & Singer. She was formerly organization’s advocacy efforts for arts and cultural groups in downtown was formerly an account director at Elliott M. Kroll, 57, joined as a partner. director of Manhattan. Mr. Miller brings years of experience to the position, having Walton Isaacson. He had been a partner at Herrick e-commerce. The New School: spent his career promoting the role of the arts in the community. He Pam Feinstein. [x+1]: Christopher Black, 42, was named Besnard, 47, joined as Julius A. Rousseau III, 51, joined as a vice president of client solutions at the had been president of Leveraging Investments in Creativity, vice president for partner. He had been a partner at audience-targeting firm. He was formerly and he will continue as president of the board. There, he development and Herrick Feinstein. divisional vice president of media developed programs to increase direct support for the alumni relations. She Davis Polk & Wardwell: Elliot Moskowitz, services for Sears Media Holdings. arts—including the Creative Commons program, which had been director of 34, was promoted to partner from Peer39: Alex White, 36, joined the online addresses training, development and health care for major gifts at associate at the law firm. advertising agency as vice president of artists to promote the role of the arts in the community. Williams College. Gregory Rowland, 35, was promoted to product and account management. He Roundabout Theatre partner. He had been an associate. was formerly director of global product He was also the managing director of Jacob’s Pillow Company: Lynne Gugenheim Gregory, 49, Christopher Schell, 38, was promoted to marketing at Yahoo. Dance Festival and oversaw its transformation into a was named director of development. She partner from counsel. —maia blume year-round dance center. In 2009, Mr. Miller was previously development director at HUB International Northeast: Mauricio EXECUTIVE PROMOTIONS founded OAM Co., a consulting and the 92nd Street Y. Betancourt, 43, was named vice president producing organization for the arts. Football Fanatics: Scott Williams, 46, was in the new business development team The fastest way to get an announcement into named president at the online sports- at the insurance brokerage. He was Crain’s is to submit details online. Fill out the form —MAIA BLUME apparel retailer. He was formerly a vice formerly vice president and a client at www.crainsnewyork.com/submit. The president at Walmart. advocate at Willis of New York. Executive Moves column is also available online.

30 | Crain’s New York Business | August 2, 2010 20100802-NEWS--0031-NAT-CCI-CN_-- 7/30/2010 12:00 PM Page 1 chemex / INSATIABLE WEDNESDAY, AUGUST 11 CRITIC THE FIVE O’CLOCK CLUB flickr.com Gael Greene will hold a THE workshop on the organization’s approach to interviewing from 6:30 p.m. to 8:30 p.m. at 11 Penn Plaza, fifth floor. WEEK The fee is $50. Call (908) 696-9469 or e-mail [email protected] for She’ll be back: further details. AHEAD SATURDAY, AUGUST 14 Join SELFRECRUITER.COM and the WEST AUG. 9-15 SIDE YMCA for a lecture on building your places to revisit professional network with LinkedIn and how to use it for your job search. The CONFERENCES & SEMINARS program runs from 10 a.m. to 11:30 a.m. WHAT HE’S Our usual posse could not be per- THURSDAY, AUGUST 12 at 5 W. 63rd St., and the fee is $50. For The Insatiable Critic Lugo Caffé suaded to try near Madi- The BCA BUSINESS DEVELOPMENT GROUP information, call (212) 372-9878 or READING reveals where she son Square Garden.But I’m sure it’ll will host a seminar on the realization of e-mail [email protected]. be easy to find closed new business, and not just FOR PAUL LECLERC, president and really goes to eat company now referrals, from 8:30 a.m. to 10 a.m. at the CULTURAL EVENTS CEO of the New York Public that I’ve docu- offices of NL Financial Alliance, 733 FRIDAY, AUGUST 13 Library, Graham Robb’s Parisians have three categories: what mented the Third Ave., second floor. For more Check out a concert by THE WEDDING is at the top of his history- PRESENT I love,what I liked,and where good-to-eat information, call (646) 465-5590 or , a band with numerous Top 40 intensive summer reading list. I eat. I’m telling you in this food at reason- e-mail [email protected]. hits in the United Kingdom, at the South Street Seaport, Pier 17—part of Starting in the late 18th century, column where I’m eager to re- able prices on a SUNDAY, AUGUST 15 the annual River to River Festival. The Mr. Robb offers a view of the city turn. menu re- Pork shank, Lugo Join the GREATER HARLEM CHAMBER OF concert starts at 7 p.m. and is free. For “told on the basis of individual II can’t stay away long from ABC vamped by Caffé COMMERCE for a small business expo and more information, visit people,” says Mr. LeClerc. Kitchen by Jean-Georges Vong- consulting chef fair featuring 15 to 20 Harlem-based www.rivertorivernyc.com. The French literature scholar erichten. The charmingly fey spot Sam Hazen.A pizza,the Caesar and businesses as part of Harlem Week.The wraps his tour de France with expo is free and open to the public, and SATURDAY, AUGUST 14 Pick attached to ABC Carpet & Home the crusty pork shank would feed four Evelyne Lever’s Madame de seems to have a easily.1 Penn Plaza;(212) 760-2700. it runs from 10 a.m. to 7 p.m. at 135th Head to the of the METROPOLITAN MUSEUM OF Pompadour (en Français, bien special lure for At Pearl Oyster Bar,I have the Cae- Street between Fifth Avenue and week ART, 1000 Fifth Ave., for sûr), on King Louis XV’s mistress. Vongerichten, sar, Steven has the New England Malcolm X Boulevard. For more information, call (212) 862-7200 or the final weekend of the Mr. LeClerc, who leaves his too. chowder, and we both follow with a e-mail [email protected]. exhibit American Woman: Fashioning a post next year, is also working his I have a feel- Vesuvius of a lobster roll,lashed with National Identity, which explores way through Conspirata, by Robert ing he’s as emo- mayonnaise under a thatch of salty WORKSHOPS perceptions of the American woman tionally in- shoestring fries. An old fashioned TUESDAY, AUGUST 10 from 1890 to 1940. The museum is open Harris, a fictional drama about the Baby carrot salad volved here as fruit pie à la mode makes a classic fi- PENTAHO CORP. will run a workshop on from 9:30 a.m. to 9 p.m. Suggested Roman statesman Cicero as told with avocado, ABC anywhere in his nale on this trip to the “beach.” 18 using Apache Hadoop software for big admission is $20 for adults, $15 for by a slave secretary. fast-growing Cornelia St.; (212) 691-8211. data analytics from 8 a.m. to noon at the seniors, $10 for students and free for But don’t assume that Mr. empire, infected by the primal mar- I have longed to go back to The New York Marriott Downtown, 85 West members and children under 12. For LeClerc isn’t down in the trenches. St. The event is free. For more more information, visit ket connection,Union Square,just a Breslin. I think about trying brunch “Like everybody else,” he says, information, call (646) 484-8150 or www.metmuseum.org. “I’m reading Stieg Larsson—The few blocks away. Some have chided or lunch, or even the sandwiches in e-mail [email protected]. —maia blume Vongerichten for his tardy embrace the bar. Surely I’ve given my arteries Girl with the Dragon Tattoo.” of the timely, the local and the recy- time to recover from the rash rich- To view Crain’s full calendar listings, go to www.crainsnewyork.com/events —CARLGAINES cled. But then they taste. The awe- ness of everything tasted months ago Untitled-2 1 7/28/10 11:10 AM some baby carrot salad with avoca- on April Bloomfield’s menu. Show do and sour cream,a crunch of seeds me a richer Caesar than her mar- and a citrus spritz. Beets on home- velous toss of romaine hearts with made yogurt. Raw mackerel trans- fresh anchovy, anchovy-flavored formed by a fresh ginger bath. 35 E. croutons,fried parsley and parmesan 18th St.; (212) 475-5829. shavings. Even One of these days, I’m expecting the poussin is Cascabel Taqueria to clone itself on lethal, with the Upper West Side. I’d be there clouds of crème more often if it were closer and took fraîche smoth- JOIN CRAIN’S reservations. Thoughts of those ering the bird, splendid tacos and the pork belly smartly vine- tostada do haunt me on evenings gared for flavor Caesar salad, The when I don’t feel like I must be re- oomph and Breslin ADVISORY PANEL viewing. I love the fatty spare ribs, served with dotted with radish thins and parsley. pumpkin and mint. But if you only Tonight the skirt steak tacos with live once, you’ll have to have the pig fried onions are trotter (actually a whole foreleg). I the best. Co- wonder what would happen if The owner David Breslin were required to post calorie Chiong is ex- counts on the menu … would only cited about the the blind eat there? 16 W. 29th St.; new ice-grinder (212) 679-1939. for snow cones I don’t need an excuse to go to Looking for readers to share views and opinions. with exotic fla- Tacos, Cascabel Salumeria Rosi Parmacotto—friends vors.We try the Taqueria from out of town,our turn to pay,got vanilla, wish- just 45 minutes before a movie,need ing the ice were finer.Delicious fried a haven for a vegetarian niece. Sim- doughnut holes arrive in a little ilarly afflicted friends have been brown bag demanding attention. known to ring our doorbell on Sun- 1542 Second Ave., at East 81st Street; day without warning and beg us to (212) 717-7800. join them. New for summer: slow- I’ll be back at Bar Artisanal now cooked corn with dates, and heir- that Terrance Brennan has taken it loom tomato panzanella. Lasagna Spanish. I must have the paella and the short rigatoni amatriciana, again,the fried egg flat bread,the as- mixed beans and ratatouille follow, Sign up for FREE today. CRAIN’S NEW YORK BUSINESS paragus and the dense almond torta. maybe a spicy porchetta sandwich. This corner below Canal could mean 283 Amsterdam Ave., between West www.crainsnewyork.com/advisory a substantial investment in taxis, but 73rd and West 74th streets; we live one block from the subway (212) 877-4800. that brings us a short walk away. 268 West Broadway; at Lispenard Street; Copyright © 2010 by Gael Greene.

photos by buckphotos ennis (212) 925-1600. Syndicated by www.insatiable-critic.com.

August 2, 2010 | Crain’s New York Business | 31 CN013847 7/23/10 3:54 PM Page 1

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