Actors Fund in Housing Play a Barneys CEO Orders Online P

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TOP STORIES Russian Tea Room is last icon standing PAGE 2 CONDO KING The little media engine that could (and did) PAGE 3 DETHRONED Should Goldman take itself private? PAGE 3 With one building gone, more Gay marriage vote on brink,Yair Levy leads pack opens Albany closet of city’s troubled developers THE INSIDER, PAGE 8 EDITORIAL, PAGE 10 BY AMANDA FUNG last month,owners of 45 apartments at a disastrous 303- unit condominium conversion in Battery Park City sued BUSINESS LIVES developer Yair Levy for $100 million, alleging fraud. The suit came nine months after he defaulted on the $165million mortgage for the building located at 225 Rector Place.That project now faces a possible foreclosure that Mr. Levy’s lawyers in court filings say puts him at risk of “losing it all.” Uptown, Mr. Levy’s luck is no better. In September, after the lender on his Park Columbus conversion on West th Street sued him for defaulting on his loan, Mr. Levy filed for bankruptcy on the property. GOTHAM GIGS Many developers have fallen on hard times in recent Display’s the thing for years.Few have fallen further and faster than Mr.Levy,the fred harper Bergdorf guy P. 29 See CONDO KING on Page 26 G ANNE FISHER on how to find a job in another industry P. 29 G MOVERS & SHAKERS What FreshDirect’s Actors Fund in housing play A Barneys CEO orders online P. 30 G GAEL GREENE checks to grow in into Pierre hotel P. 31 Starts ambitious low-income projects to aid its own in downturn ANNETTE BENING tion and senior vice president and Brooklyn BY MIRIAM KREININ SOUCCAR is spearheading general counsel for Petra Solar, an INDEX a fundraising campaign. energy company. “[Launching the the actors fund, a human serv- corporation] will extend our reach Despite troubled NEW YORK, NEW YORK ______6 ices organization that helps people and effectiveness in a very vital area REAL ESTATE DEALS ______owner, retailer plans 9 who work in the performing arts corporation’s for our community—providing ALAIR TOWNSEND ______11 and entertainment industries, is first project, a safe, affordable housing for those Cobble Hill store CLASSIFIEDS ______22 planning to build hundreds of low- 160-unit in need.”

FOR THE RECORD ______24 income housing units in urban building in Operating housing facilities is centers across the country over the Newark, N.J., not new to the Actors Fund,which BY ADRIANNE PASQUARELLI NEIGHBORHOOD JOURNAL ______25 next few years. is still in the planning stages and is has a $26 million annual operating HOT JOBS ______29 The Manhattan-based non- expected to be announced next budget. trendy upscale department EXECUTIVE MOVES ______29 profit is launching the Actors Fund month. The Actors Fund is look- It currently runs the Aurora, a store Barneys New York is plan- THE WEEK AHEAD ______31 Housing Development Corp. to ing for real estate sites in New York building with a health clinic on ning to open its first-ever location help it accomplish this task. The City and Los Angeles as well.The West 57th Street for people living in Brooklyn, according to sources projects will include low-income with AIDS, seniors, and profes- close to the situation. The retailer housing, assisted-living and nurs- sionals earning less than $35,000 a is canvassing the market in the 49

5 ing-home facilities. year. It also runs a nursing home in hope of opening a Barneys Co-Op “Dancers, actors, and singers Englewood,N.J.,for retired mem- in Cobble Hill, despite the still have median incomes that are well bers of the entertainment industry, treacherous retail climate and the below $25,000, and only a small and it recently opened a low-in- precarious condition of its Dubai- ELECTRONIC EDITION percentage of them work full come housing facility for perform- based owner, Istithmar World. time,”says Scott Weiner,chairman ing artists in downtown Brooklyn “We’re cautiously optimistic NEWSPAPER of the new development corpora- See ACTORS FUND on Page 26 See BARNEYS on Page 26 71486 01068 0 20091207-NEWS--0002,0003-NAT-CCI-CN_-- 12/4/2009 8:25 PM Page 1

IN BRIEF EXECUTIVES IN THE HIGH-END JEWELRY A Russian revival on t BUSINESS ARE PLAYING MUSICAL CHAIRS. Frédéric de Narp, who headed Cartier North America for four years, will be taking over Harry Winston Inc. as president and chief Tea Room wants executive next month. Meanwhile, Emmanuel Perrin, former president of Paris-based jeweler a younger crowd, Van Cleef & Arpels, will assume Mr. de Narp’s post at Cartier. While the jewelry industry more tourists and suffered a pullback in consumer spending and bank lending in the first half of the year, a little less borscht conditions have started to improve.The category recorded a 4.6% gain in November sales, marking its third consecutive month of BY LISA FICKENSCHER growth, according to MasterCard Advisors’ SpendingPulse. from the moment guests walk into the Russian Tea Room, with its gold-leaf ceil- MANHATTAN’S MEMORIAL SLOAN-KETTERING ing, gleaming brass samovars and red- CANCER CENTER IS MOVING AHEAD WITH A leather banquettes, they are prepared to plan to open a $5.1 million outpatient drop a few financial pounds.The menu of- chemotherapy center in Brooklyn after getting fers 11 varieties of caviar for as much as the green light from the state Health $295 per ounce. Department.The proposed center, which will But that’s not the message its latest be at 557 Atlantic Ave., near the LIRR owners want to convey. transportation hub, is Memorial Sloan- “We are trying to communicate that Kettering’s first outpost in a New York City you can have this luxurious, unforgettable outer borough. It will open in July 2010 and experience and it’s affordable,” says Vice will initially treat 10 patients daily, before President Ken Biberaj,who recently intro- ramping up to about 30 patients a day.The duced a children’s tea menu for $25 per hospital is breaking with tradition: Most person and a business express menu for $35 chemotherapy/infusion centers are located in or per person. He also added an extensive adjacent to a hospital. half-bottle wine list. The conundrum of how to make an expensive restaurant appeal to budget-minded diners is not lost on Mr. Biberaj, nor is BY THE NUMBERS his task of refreshing an octogenarian’s image to attract more young people like him- Weekly shift of the city’s economy self—he’s 29 years old. HO, HO, INDEED. The surprising drop in un- employment helps dispel fears of the economy One of a kind stalling. True, a shrinkage in the huge service his first challenge since he took on sector was a bad sign, but the drop was small. management of the restaurant in 2006— two years after real estate firm RTR Fund- -11,000 +29% +0.9% ing Group bought the 20-foot-wide, four- DROP in Nov. GAIN in value of GAIN in same- story building—was dispelling a payrolls, bringing metro residential, store sales, perception that it was closed, since it has the U.S. jobless nonres. construction Walmart, in Nov. been for eight of the past 13 years. rate down to 10% starts in Oct. from from year earlier At a time when New Yorkers are more neff david Source: U.S. Dept. of year earlier Source: Retail Labor Source: McGraw-Hill Forward apt to dine at a local bistro or at the trendy Construction places featured in the foodie press, the What’s more, after Tavern on the Green valuable and more viable as a business after Russian Tea Room is jockeying to remain closes on Dec. 31, the Russian Tea Room Tavern goes away,” says consultant Clark relevant. After all, this year has not been will be the only place in town that reflects Wolf, who worked at the West 57th Street THE TRAIN HAS LEFT THE STATION: Metro-North kind to many of its peers, including the the unique flamboyance of the late Warner restaurant under a previous owner. “There ridership has been dropping at a significant clip, as job losses cut into the ranks of commuters. shuttered Café des Artistes, the Palm LeRoy,who spent more than $30 million in is always a place for tradition and some- Court at the Plaza Hotel and the Rainbow the late Nineties to transform the eatery thing that screams, ‘I am in New York.’ ” Room. into a fantasyland not unlike the ornate In its heyday, the restaurant attracted a These restaurants’demise could actual- Central Park spot he operated for decades. who’s who roster ranging from Frank Sina- ly benefit the Russian Tea Room,some ex- The Russian Tea Room’s second-floor pri- tra to Harry Belafonte. perts say, because it is among the few re- vate dining space features an enormous Lu- “I signed Bette Davis for Family Re- maining establishments that still represent cite bear filled with live tropical fish. union at the Tea Room,” says Lucy Jarvis, old New York. “The Russian Tea Room becomes more an award-winning documentary filmmak-

No data were available for June 2009. Source: Metro-North Railroad Greg David leaving Crain’s STARS OF 2010 CORRECTIONS 40 UNDER 40 The president and chief executive of Allied Beverage Group is greg david, editorial director of weekly paper in a crowded marketplace. NOMINATION Jeffrey Altschuler. Allied supplied incorrect information for the Crain’s New York Business, is leaving Under his leadership, Crain’s won two Gerald Nov. 16 list of the New York area’s largest privately held Crain’s to become director of the Loeb Awards, for stories on the fall of retailer DEADLINE companies. business and economic reporting Crazy Eddie and the impact of AIDS on the fash- CRAIN’S 40 UNDER 40 Michael Hofmann is a senior managing director at Colliers ABR. program at the CUNY Graduate ion industry, as well as numerous top honors from nomination deadline This fact was misstated in an article on Times Square retailing in School of Journalism. the Alliance of Area Business Publications. the Nov. 30 issue. has been extended until Mr. David, a 34-year veteran He also led Crain’s popular breakfast forums Fri., Dec. 11, at of Crain Communications with a distinctive style, interviewing political midnight! Go to vol. xxv, no. 49, december 7, 2009—Crain’s New York Business Inc, began his career at the (issn 8756-789x) is published weekly, except for combined issues heavyweights from Sen. Hillary Clinton to May- crainsnewyork.com/ the 5th week of June and the 1st week of July, the 2nd and 3rd company at Business In- or Michael Bloomberg,as well as business and cul- nominate to submit weeks of July, the 4th week of July and the 1st week of August, surance in 1976. He tural leaders. the 4th and 5th weeks of August and the 3rd and 4th weeks of information on your moved to Crain’s Chicago Mr. David, 59, will continue to contribute to December by Crain Communications Inc., 711 Third Ave., New candidate. York, NY 10017. Periodicals postage paid at New York, N.Y., and Business as managing Crain’s. He also is preparing a book on the New additional mailing offices. Postmaster: Send address changes to: editor two years later. York economy. Crain’s will select Crain’s New York Business, Circulation Department, 1155 Gratiot the winning candidates Avenue, Detroit, MI 48207-2912. for subscriber service: Call He came to New Says Crain’s Publisher Jill Kaplan, “We are (888) 909-9111. Fax (313) 446-6777.$3.00 a copy, $59.79 one year, in January and will $109.79 two years. (GST No. 13676-0444-RT) York in 1985 to help deeply grateful to Greg and are delighted that we ©Entire contents copyright 2009 by Crain Communications Inc. introduce Crain’s New will continue to collaborate.” spotlight them in the All rights reserved. York Business to the city, Crain’s Editor Xana Antunes will also run the March 29 issue. carving out a niche for the paper’s editorial board effective Jan. 1. buck ennis 2 | Crain’s New York Business | December 7, 2009 20091207-NEWS--0002,0003-NAT-CCI-CN_-- 12/4/2009 8:25 PM Page 2 n the menu Small and local wins the race Mini-mogul corners publishing’s sweet spot

before Sept. 11, 2001. Messrs. Allon and Burns BY MATTHEW FLAMM were classmates at Columbia’s journalism school in the mid-1980s.Mr.Burns is chairman for a publisher that leaves its newspapers in of Manhattan Media as well as a managing building lobbies for anyone to grab, Manhattan partner of Isis Venture Partners, its private eq- Media is doing pretty well. uity backer. Indeed, the company has defied industry Advertising and circulation have generally trends that have decimated the newspaper busi- held up better at community papers than at ness nationally and has grown to become New dailies in recent years, as the larger papers’ ad York’s largest independent owner of communi- dollars and eyeballs have migrated to the Web. ty publications. That was one reason Rupert Murdoch bought Starting with local giveaway weeklies Our up weekly papers in Brooklyn, Queens and the Town and The West Side Spirit,and the tiny sub- Bronx in 2006 and 2007—and expressed an in- scription papers Chelsea Clinton News and The terest in Manhattan Media, according to indus- Westsider, Manhattan Media has thrived as the try sources. (Mr. Allon declines to comment on media landscape has fragmented. overtures from News Corp.) The publisher now owns more than a At Manhattan Media, the newspapers have dozen publications and See SMALL AND LOCAL on Page 28 companion Web sites, including the twice- monthly City Hall, the downtown-oriented New York Press and the glossy Upper East Side society organ Avenue. Revenue has grown fivefold since 2002, according to executives at the privately held company. YES, WE’RE OPEN: Closed for eight of the past 13 years, the What’s more, advertising Russian Tea Room is open for revenue for the news- business. Reminding diners is papers is up this year one of Vice President Ken over last. Biberaj’s greatest challenges. Serving niche markets together with its growing roster of events, including last er who celebrated her 90th birthday there prepurchase meals at the restaurant when week’s Antiques & Art two years ago and continues to be a regular they buy a ticket.He is also wooing the city’s show at the Armory, customer. But she laments that it’s no hotel concierges, inviting them in for din- Manhattan Media has longer the pinnacle of the entertainment ners to reacquaint them with the restaurant. become a mini-conglom- industry. “Now you walk in and you don’t There is even something for the after-work erate catering to slices of the know who you’ll find.” crowd: sliders at the bar ($25) and vodka New York market. tastings ($14). “Who knew eight years ago Broadening its appeal—and the menu The menu,while not highly rated by the that hyperlocal would become chances are you’ll find a tourist, and Zagat Survey, is expanding beyond the a sexy word?” says Chief Ex-

that’s fine with Mr.Biberaj,who is courting classic Russian fare of beef Stroganoff, ecutive Tom Allon, who buck ennis that crowd.Over the summer,he teamed up chicken Kiev and borscht.A lobster bisque founded the company with MANHATTAN MEDIA CEO TOM ALLON: “Who with Telecharge to prompt theatergoers to See RUSSIAN TEA ROOM on Page 28 Richard Burns one month knew that hyperlocal would become a sexy word?”

tional debt to pay for a leveraged buyout, which is how these deals are Resetting the Goldman standard usually financed, meaning any transaction would have to be done entirely in cash. How to silence all ing kittens living near its headquar- again, that may be the best road for- Still, private equity experts say ters and charged with chintziness IN THE MARKETS ward. No more relentless public the numbers could work. those critics? We’ve after unveiling a $500 million small scrutiny. No more disclosing lofty business aid program. News reports bonus figures. No answering to up- Let’s do the math got an idea: Take last week even described fearful Goldman generated 80% of its busi- pity shareholders. first,goldman shareholders would the firm private Goldman executives applying for ness from running a Wall Street “Some days, I’m sure some of expect a premium to part with their gun permits. casino to a place where regulators those guys would love to be private equity,which is valued at $85 billion. Worse than the bad press:Share- will allow maybe no more than again,”says veteran Wall Street con- Investors get 50% over market price BY AARON ELSTEIN holders and regulators are pushing 25%,” says CreditSights analyst sultant Charles Ellis, author of a re- historically in such deals, according Goldman to change the way it oper- David Hendler. “How will the or- cent book about Goldman titled The to Baruch College finance professor poor goldman sachs. The Wall ates. Big owners of its stock want ganization adapt? Can it be a public Partnership. Raj Nahata, yet premiums tend to be Street firm that’s printing money more of the firm’s spectacular prof- company anymore?” Goldman, which went public in lower for blue-chip outfits like Gold- mere months after exiting the feder- its flowing to them and less to em- 1999, wouldn’t comment on various man because their stock prices are al bank-bailout straitjacket can do ployees as bonuses. Federal officials No more public scrutiny buyout scenarios posed by Crain’s. high to begin with. no right. are examining everything from that’s certainly a valid question. There’s also a huge caveat to any go- That suggests a take-private It’s mocked on Saturday Night Goldman’s compensation practices Although there’s no evidence that ing-private speculation these days: price for Goldman of $100 billion to Live for hogging swine-flu vaccine, to how much risk its traders take. Goldman is contemplating a step Federal regulators probably would $125 billion—or,more than twice as accused by a newspaper of neglect- “We’re going from a world where back in history to take itself private not allow Goldman to take on addi- See GOLDMAN on Page 4

December 7, 2009 | Crain’s New York Business | 3 20091207-NEWS--0004-NAT-CCI-CN_-- 12/4/2009 8:26 PM Page 1

ties-trading adviser Millburn Corp. Gold futures started 2009 at OTHER POSSIBLE COMMODITIES BUBBLES $874 per ounce; it took about nine IN THE MARKETS months for prices to flirt with PALLADIUM RICE BLACK PEPPER $1,000 per ounce,posting a 16% rise by September. But the past two 105% 40% 20% months delivered a 20% spike, to $390 an ounce to $157 per ton to $1.50 a pound boosting gold to last week’s all-time high of more than $1,200 per ounce. Yellow fever: Hedge The main driver of demand has been a type of mutual fund called an ETF, or exchange-traded fund. This rare metal, used in This staple for two-thirds Cooks worldwide and Gold ETFs invest in bullion, store catalytic converters, fuel of the world was hit by pharma firms use pepper. funds join gold rush the shiny stuff in bank vaults and sell cells and mobile phones, limited financing for crops Floods in Brazil led to a electronic fund shares to investors. is benefiting from strong and a bad Asian run on Vietnam’s supply, During the first half of this year, in- auto demand in China. monsoon season. causing shortage fears. His Paulson & Co. famously vestors poured so much new money Why John Paulson, pocketed $20 billion in 2008 after into gold ETFs that the funds added David Einhorn are correctly predicting when the hous- 500 tons of bullion to their vaults,ac- that Tudor Investment Corp. had more,” he told the BBC last week. ing bubble would burst. The thing cording to World Gold Council es- put some of its $11.6 billion into Yet at some point,the smart mon- buying into a run-up is, Mr. Paulson and other new-era timates. That’s 36% more gold than gold-mining stocks. ey will start selling—or at least start gold diggers are followers on this ETFs bought during all of 2008. shorting.Heavy hitters can choose to one—rare for people who pride Hedge funds, pension funds and “Now is the time” ride out a temporary correction,then BY HILARY POTKEWITZ themselves on their ability to see central banks have piled on,too.The “it is just an asset that,like every- shift course if it becomes a lasting value where others don’t. weak U.S. dollar is unnerving gov- thing else in life, has its time and change.Average investors likely can’t oldbugs have long “You’re dealing with a gold mar- ernments the world over, so they are place,”Mr.Jones wrote.“And now is afford to wait and see. been considered the lu- ket that has had a very substantial quickly shifting reserves from dol- that time.” “[Since gold has had] a very sub- natic fringe of invest- rally, and clearly the [hedge] funds lars to gold. When the International After deeming gold too expen- stantially rally, there’s potential for ing, what with their want to be participating,” says Bill Monetary Fund decided to raise cash sive in October, famed contrarian the average investor in [gold] funds quaint devotion to the O’Neill, founder of Logic Advisors last month by selling 400 tons of its investor and author Jim Rogers or gold coins to be subject to a cor- Gyellow metal as the one true hedge and former head of commodities re- gold,India’s central bank snapped up started buying gold again in No- rection,” says Mr. O’Neill of Logic against hyperinflation. Hedge fund search at Merrill Lynch. “They may half of it for a cool $6.7 billion. vember, he says. He now expects Advisors. hotshot David Einhorn, founder of all be late to the party, but the trend This past spring,Mr.Paulson be- gold to double in price by 2011. He’s advising individual in- $6 billion-asset Greenlight Capital will continue higher at least through came the largest shareholder of the “But if it goes down, I’ll buy vestors to “take profits” on half their Inc., often referred to gold as his the first half of next year.” $43 billion SPDR Gold Trust ETF, more, and if it goes up, I’ll buy gold holdings, just in case. Grandpa’s investment strategy. buying 31.5 million shares, or 8% of Look who’s caught the gold bug Momentum buying the fund, according to a May filing. now. Mr. Einhorn and other hedge gold’s momentum is still gathering BlackRock Advisors followed in fund stars,like Paul Tudor Jones and speed, particularly because folks September, increasing its stake in Take Goldman private? John Paulson,have taken huge posi- who would ordinarily flag signs of a the same ETF to 6.4 million shares, tions in the past few months,even as bubble have put their flags away. up from just 500,000 shares.George prices have climbed to historic “This is the first time in over two Soros, too, took a shine to gold last Continued from Page 3 bonuses get paid. It’s also a point of highs. In fact, Mr. Paulson is decades you’re seeing this kind of quarter, adding 2.5 million shares to much as the largest such takeover on tension with regulators who frown launching a gold-focused hedge demand for gold, and it’s only in- his fund’s existing holdings. record. on outsize risks being taken with fund in January and pouring $250 creasing,” says Barry Goodman, ex- Mr. Jones got on the bandwagon Look closer, however, and the bank capital, something Goldman million of his own fortune into it. ecutive vice president of commodi- in October,informing his customers figures aren’t so intimidating. traders often do to boost returns. Goldman is on pace to generate $30 billion in operating cash flow this End result: a less risky firm year and already has $23 billion in “if i was them, I’d be desperately its coffers. Additional funds could trying to figure out how to get that come from current and former part- business out of the public eye,” says ners ($20 billion has been set aside a senior officer at a firm that advises for 2009’s payouts), institutions on takeovers and restructurings. “It such as sovereign wealth funds, would also be a much more afford- maybe even über-shareholder War- able deal.” ren Buffett. Goldman’s trading and principal While the firm has $200 billion investments division is on pace to in long-term debt, PE experts say generate $30 billion in revenue this bondholders wouldn’t need year, but the highly volatile to be bought out unless business produced less than Goldman had already $30B a third of that in 2008. promised to do so in the OPERATING Knight Capital, the largest CASH FLOW event of a takeover. It isn’t this year at U.S.equities trader,fetches a clear if such agreements ex- Goldman price equal to 1.3 times its ist. (Again, Goldman de- Sachs revenue, but Goldman’s clined to comment.) larger and more diverse trad- Two CEOs of firms that coming business merits a higher multi- pete with Goldman say that a more ple. So value it at twice its average likely buyout scenario is for Gold- revenue—$18 billion a year since man to spin off its mighty trading 2002—and a take-private price of division and take it private. about $36 billion sounds right. The division could lay claim to at Trading unit is the nuclear core least $15 billion of Goldman’s cash, the trading unit has become the suggesting its employees would firm’s nuclear core, generating 80% have to come up with another $21 of revenue this year, compared with billion to take control. A crucial un- about a quarter in 1998, Goldman’s known is how much of Goldman’s last full year as a partnership. One debt it could inherit. longtime reason that trading activi- The end result of these machina- ty was kept in check in the old days: tions would be a less risky Goldman Goldman’s partners weren’t willing that focuses on mergers advice and to risk much of their money on risky asset management and has a more trades. The firm evidently had few- valuable stock.Firms that already do er qualms about playing with other this, such as Greenhill and Ever- people’s money after it went public. core, have stocks that trade for more The trading division now also than 20 times earnings.That’s more happens to be the source of most of than double the current valuation of Goldman’s PR problems. It’s where all of Goldman.Music to any M&A the huge profits are made and big meister’s ears.

4 | Crain’s New York Business | December 7, 2009 CN013372 12/1/09 2:20 PM Page 1

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NBC Universal’s crown jewel sa network is ending the best year in its history— for the fourth year in a row. A prized asset at NBC UUniversal and one big reason that Comcast was so eager to acquire the General Electric division, USA will once again finish 2009 in first place among ad-supported cable channels, beating rivals TBS and TNT by double-digit margins. Thanks to new hits White Collar and Royal Pains, and the continuing series Burn Notice and In Plain Sight, USA is up 23% in total viewers through November and up 14% in adults 18 to 49 years old compared with the same period a year ago, LOCKING IN VIEWERS: Matt according to Nielsen.The network’s expanded audience is Bomer stars as also younger and more affluent than it has ever been, which White Collar’s con. has helped USA raise its ad rates. “Five years ago, if we tried to call A-level talent, we wouldn’t get our calls returned,” says NBC Universal Cable President Bonnie Hammer. “Now they’re pitching us.” USA will need one of those pitches to replace long-running hit Monk, which came to an end last week.

savings to launch the startup in Gridiron grub Everyone Los Angeles. Live since to order hurries home September, it has attracted thousands of followers there. as a lifelong New York Jets fan, my first time, an off-Broadway William Sertl, former travel Zach Henick always appreciates a play that chronicles people’s first editor at Gourmet, will head up the good tailgating party. Now he and sexual experiences, is handing out New York edition. Restaurants two buddies have turned their free condoms to all ticket-holders that will offer deals here include passion for football, barbecue and for the month of Cru,Telepan, Nobu and beverages into a flourishing December.The Brooklyn’s Umi Nom. Ms. “BEOC educates well-rounded candidates for the information technology field” business: Tailwaiters. holiday Nemser has been meeting Tony Scuorzo, Sr. Staffing Manager, Leveraged Technology Inc., NY, NY The company provides tables, season with potential backers, and grills and other necessities for a gimmick hopes to launch in 12 more quality round of parking-lot was inspired cities by 2013. She’s not revelry before Jets and Giants by a post that making money yet but hopes games. Mr. Henick, a 24-year-old show creator Ken to attract advertisers and student at Fordham Law School, Davenport received eventually charge subscribers. started handing out fliers for the on his blog from a young man State University of New York venture last year. He and his who said he and his girlfriend lost Brooklyn Educational Opportunity Center partners are now catering as many their virginity to each other after Nanook takes as 10 parties before each game. seeing the show. Rockefeller Center “None of us had jobs we were Last year, Mr. Davenport excited about after college,” says found in an unscientific poll that a domed tent meant to resemble Mr. Henick, who used to work in 96% of the audience had sex an igloo sprang up next to The Ice real estate. “So we thought this immediately after seeing his show. Rink at Rockefeller Center this would be a good idea.” “My First Time gets people in the weekend. But instead of raw fish, A basic package that feeds four mood. We want to make sure that it’s cocktails, hot chocolate and to six costs $129. Premium everyone is prepared,” he jokes. starters that are on the menu. packages, with filet mignon and The show was inspired by Patina Restaurant Group, shrimp, run $229. It’s all BYOB, entries to a Web site where people which operates several eateries at since Tailwaiters isn’t licensed to anonymously shared their own the tourist mecca, including The sell alcohol, though a $24.99 beer stories about their first time. More Sea Grill, figures that tired skaters Responsible and serious graduates are available to help you fill your funnel is available. than 40,000 people from around will chill out at the Igloo Bar.The employment needs in: Now that the idea is catching the globe contributed to the site. new spot will be open through on, Mr. Henick worries that the Jan. 7, unless landlord Tishman • Computer Networking Technology: IT Technician/ Computer Support Jets’ and the Giants’ recent poor Speyer allows it to stay open Specialist/ Helpdesk Technician/ Computer Repair Specialist play could end their seasons—and Food editor’s through March. • Office Support: Customer Service Representative/ Office Assistant/ his—too early.“Getting a playoff tasty new venture “It’s been a rough year, so we Administrative Clerk/ Receptionist/ Data Entry Clerk game would be really nice,” he says. are looking for ways to increase • Bookkeeping: Bookkeeper/ Accounts Payable Specialist/ with dozens of Web sites our sales,” says Ken Gordon, vice Accounting Clerk/ Accounting Assistant already offering discount dining president of operations at Patina, coupons and breathless eatery which is sinking $25,000 into the For assistance in filling your company’s job openings with qualified applicants gossip, does New York really need 65-seat bar. Mr. Gordon says at no cost to you, please contact: another online food site? Maggie Patina is willing to spend as much Lavie Margolin - Placement Specialist Nemser thinks so. On Jan. 27, she’ll as $150,000 on the structure to SUNY BEOC launch Blackboard Eats, offering make it more durable if they can 111 Livingston Street restaurant discounts of up to 30% keep it going. Brooklyn, NY 11201 to anyone who signs up for the P (718) 802.3361 - Email: [email protected] twice-weekly e-mails. Contributors: Aaron Elstein, Administered by New York City College of Technology (CUNY) SEE YOU LATER, TAILWAITER: A trio of Ms. Nemser, a former Yahoo Lisa Fickenscher, Matthew Flamm, football fans created a thriving catering firm. Food editor, dipped into her Miriam Kreinin Souccar

6 | Crain’s New York Business | December 7, 2009 CN013374 12/1/09 3:06 PM Page 1 20091207-NEWS--0008-NAT-CCI-CN_-- 12/4/2009 6:16 PM Page 1

cuts are made to major funding lines, such as education and health care. But those powerful lobbies GAY MARRIAGE Blueprint for passage THE INSIDER continue to postpone the inevitable. THE STATE SENATE’S DEFEAT last week of gay marriage clarified the road map Gov. David Paterson (left) supporters must follow to make it the law in New York state. The bill needed nine by Erik Engquist and Daniel Massey responded to the Legislature’s folly more votes, and gay activist Corey Johnson says that’s attainable by 2011. by moving to withhold state aid But he says, “The first priority is definitely to protect the 24 that he, the Senate and the members who voted yes.” David Valesky of Assembly promised to localities Syracuse and Brian Foley of Long Island will get and school districts last spring.The the most help because they could face viable action is necessary, he says, to keep Republican challengers in 2010. the state from running out of Valesky Of the eight Democrats who voted against the Foley money this winter. However, it is bill, two in Queens might have been on their way out probably unconstitutional, because already. George Onorato has been in office for 26 New York is not a monarchy. years, following 15 years as a union treasurer, and Lawsuits are on the way. could retire (possible successors Assemblyman “The fact that he’s had trouble Michael Gianaris and Councilman Eric Gioia are getting things done is not an excuse pro-marriage). Hiram Monserrate was looking at a for throwing up your hands or Onorato serious challenge from Assemblyman José Peralta Monserrate throwing out the constitution,” says even before Mr. Monserrate abandoned his support bloomberg news state Sen. Eric Schneiderman, D-Manhattan. for gay marriage. Mr. Peralta favors marriage equality For Mr. Paterson, his action and is in line for major campaign donations from its Albany postpones does serve to focus the public’s supporters. attention on legislators and away Finding opponents for Carl Kruger and Joseph from his inability to influence Kruger Addabbo, who both voted no, will be harder. Lew Addabbo them. Editorial boards have called Fidler could run against Mr. Kruger without giving up the inevitable the budget squabble everything his City Council seat, but is not inclined to. Senate from irresponsible to farcical. Will Democrats, helped by gay donors, made a huge they run out of adjectives before the investment in Mr. Addabbo’s initial Senate he state budget saga, now in its third month, state runs out of money? Tune in campaign last year. In retrospect, Mr. Johnson says, has gone from the absurd to the ridiculous. Facing next week. gay money should have gone to Councilman James Huntley a budget deficit estimated to be between Gennaro, who barely lost to Republican Frank Stachowski $3.2 billion and $4.1 billion, the Legislature last Padavan. If he doesn’t take on Mr. Padavan in 2010, gay money will go to Small biz bill any pro-marriage Democrat who does, probably Councilman David Weprin. week approved a collection of half-baked in bad shape Opponents will be sought for two other vulnerable Democrats who voted measures that will close the gap by $2.7 billion. Education no, Shirley Huntley of Queens and William Stachowski of Buffalo. T a reading of the tea leaves funding was spared, but unfortunately none of it will go “Stachowski would be in retirement right now if not for gay Democratic indicates that the Small Business toward remedial math for state lawmakers. money,” Mr. Johnson says. “We have to re-evaluate this. We can’t give money Survival Act will die in the City to a campaign committee that is going to help elect or re-elect members who Eventually, of course, something will have to give.The state Council, which would be a victory are not with us.” budget, by law, must be balanced, and last week’s action did for landlords.The bill would give Marriage proponents believe if 30 Senate Democrats vote yes, several virtually nothing to address what Albany number crunchers sweeping new rights to commercial Republicans would join them. tenants, all but ensuring that they call its structural deficit. Simply put, spending exceeds could remain in their locations even revenues. It will continue to do so until substantial, recurring if their landlords wanted them out. Bill sponsor Robert Jackson lobbying on matters she worked on gave opponents a scare by moving as a public official. Ms. Katz to bring the measure to the represented Queens in the council floor this week. It has hit Assembly from 1995 through 1998. a dead end in the Small Business She finished third in this year’s Committee, whose chairman, David Democratic primary for city Yassky, has not called a vote. Mr. comptroller. Jackson could avoid that roadblock with a rarely used procedural motion. Campaign money But even some members who for nothing support the bill would oppose that motion because it circumvents the the campaign Finance Board committee process. Moreover, held hearings last week to review its Speaker Christine Quinn opposes the matching-funds program.The motion and the bill itself. She has focus was on whether it helped proposed other measures to help grassroots candidates enough. But small businesses, giving members another subject that deserved a look an alternative. Even if it passed and was the distribution of taxpayer overcame a veto by Mayor Michael dollars to City Council members Bloomberg, “there would be a lawsuit facing token opposition. immediately,” promises Steven The board has tightened rules to Spinola, president of the Real Estate limit such payments. Still, it Board of New York. lavished $110,688 on Inez Dickens, D-Manhattan, and $88,550 on Lew Fidler, D-Brooklyn, who trampled Katz lands hopeless candidates by huge with law firm margins. Both candidates say they were taking no chances. city councilwoman Mr. Fidler hopes to return Melinda Katz (right) about $10,000 in unused will join law firm funds. Greenberg Traurig on A dozen Democrats Jan. 1, the day after her turned down public funds term expires, and register before the November election, as a lobbyist. Conflict-of- including Public Advocate-elect Bill interest rules will prevent Ms. Katz de Blasio and Borough Presidents from appearing before the City Marty Markowitz of Brooklyn and Council for one year and from ever Scott Stringer of Manhattan. newscom For daily political and government news, subscribe to CRAIN’S INSIDER @ www.crainsnewyork.com/insider

8 | Crain’s New York Business | December 7, 2009 20091207-NEWS--0009-NAT-CCI-CN_-- 12/3/2009 8:16 PM Page 1

REAL ESTATE DEALS PLUS

debt. Only 47% of 1466 Broadway Neither brokerage will comment. Vacation chat is leased, according to CoStar —theresa agovino Funding chase hits spurs leasing deal Group Inc. —theresa agovino it pays to take vacations. Penn Station area When Colliers ABR Inc. broker wins arty arriviste nonprofits’ space David Hoffman was vacationing in British bank tries Mexico late last year,he ran into fel- Blackstone building zero point zero production inc. early half of the city’s nonprofits are low New Yorker Scott Mager, chief is ditching SoHo for the Penn executive of Perfect Building Main- yet another tenant has found Station area. The Emmy-winning reviewing their real estate strategies as 79% of tenance. Their chance meeting will space in a top-quality building at an television and film production com- them grapple with fewer donations amid the bear fruit early next year when the attractive price. Standard Chartered pany has signed a 10-year lease for recession, according to a survey by S. Sunshine office cleaning company moves into reached a deal to lease 150,000 square 9,600 square feet at 875 Sixth Ave.,at and Associates. 12,200 square feet at 360 Lexington feet at 1095 Sixth Ave., sources say. West 31st Ave., a building that Mr. Hoffman The deal hasn’t yet been signed, Street. The NOf the 45% of firms that are considering a change, many represents. but terms have been agreed upon, asking rent was will likely move to less expensive quarters, says Suzanne “Sometimes you need to get out including rent of about $75 a square $33 per square Sunshine, president of the brokerage, which specializes in of New York to get a deal done,”says foot,according to insiders.A spokes- foot. Mr. Hoffman, who negotiated for woman for the British bank declines “It’s a big representing nonprofits.The survey the building with his colleague to comment. space, and the MANHATTAN’S of 203 nonprofit firms found that Wendy Miller.Colliers broker Aron Standard Chartered currently landlord was IN BARGAIN BIN 20% of respondents believe that Schreier represented Perfect Build- occupies roughly 90,000 square feet accommodat- their rent is too high. ing. at 1 Madison Ave. ing with the OFFICE SPACE is cheaper in Ms. Sunshine says members of The asking rent for the 10-year The recession has forced down build-out,”ob- 875 Sixth Ave. midtown Manhattan than in Dublin, that group likely signed their leas- deal was around $45 a square foot. rents by as much as 50% in Manhat- serves Glenn Istanbul and Manchester, England, es at the very peak of the market. Mr. Hoffman says Perfect tan. Brokers note that many tenants Teyf of ORB among other global locations. Average rents have fallen as much Building was drawn to the property are using the drop in the market as Real Estate Professionals, who rep- as 50% from their peak in late because of its central location and an opportunity to trade up to Class resented the tenant along with col- $68.93 2007. sound ownership. AEW Capital A buildings such as 1095 Sixth,a 1.2 league Yossi Feigenson. Average rent per sq. ft. in Manhattan “They probably feel they over- Management owns the building. million-square-foot tower owned The company is slated to move paid, but now they can’t get out of Perfect Building is now located by The Blackstone Group. into the full 19th-floor space in their leases,” Ms. Sunshine points at 1466 Broadway, which is owned Jones Lang LaSalle represented February. 24 out. by Istithmar World, an investment Standard Chartered,while Cushman “The tenant is a good, growing Manhattan’s rank among world cities One strategy is for them to sub- fund that’s an arm of Dubai World. & Wakefield Inc. represented the company,” says Peter Braus of Sier- Figures are as of Sept. 30. lease part of their space to other Two weeks ago, Dubai World an- landlord. It is not clear whether the ra Realty Corp., who represented Source: CB Richard Ellis nonprofits, she says. nounced that it was having difficul- space is a direct deal from Blackstone landlord 875 LLC. —theresa agovino ty servicing billions of dollars in or a sublease from another tenant. —amanda fung

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December 7, 2009 | Crain’s New York Business | 9 20091207-NEWS--0010-NAT-CCI-CN_-- 12/4/2009 1:27 PM Page 1

VIEWPOINT Turning defeat into victory editor in chief Rance Crain publisher, vp Jill R. Kaplan he defeat of a bill in the state Senate to accountable for his or her vote. Members of the Assembly editorial director Greg David legalize same-sex marriages is not a and senators rarely say in advance what their positions are on EDITORIAL devastating setback to the cause of equal controversial issues. Afterward, they often claim to have editor Xana Antunes managing editor Glenn Coleman rights for gays. In fact, the vote provides a disagreed with the decision but had to vote the way they did deputy managing editors Valerie Block, to preserve party unity. Erik Ipsen clear path for gay rights activists to achieve contributing editor their goal and one of the most hopeful No one will be able to hide like that from the marriage Elizabeth MacBride columnist Alair Townsend signs in years that it’s possible to fix “the vote. Gay leaders can, and should, recruit primary senior reporters Theresa Agovino, mess in Albany.’’ challengers to the eight Democrats who voted against— Aaron Elstein, Erik Engquist, Lisa Fickenscher, Consider this contrast. Last week, after hours of candidates who promised to vote in favor of gay marriage. Matthew Flamm, Miriam Kreinin Souccar T reporters Barbara Benson, Amanda Fung, passionate debate and months of lobbying, every one of the Those leaders can, and should, target key Republican Daniel Massey, Adrianne Pasquarelli, Hilary Potkewitz 62 senators cast a districts where they art director Steven Krupinski “yea” or “nay” vote could replace a no vote deputy art directors Carolyn McClain, Daniel Mednick on a bill to legalize No legislator with a yes vote.They staff photographer Buck Ennis same-sex marriages. can raise money and copy desk chief Wendy Zuckerman copy editor Thaddeus Rutkowski This should not be can hide work the grass roots. research editor Denise Southwood a shock; it is the Winning will assistant research editor Maia Blume from the gay editorial/research intern Selena Shen way the textbooks demonstrate that the www.crainsnewyork.com say the American marriage vote voters agree with them. web editor Brian Tracey senior producer Elisabeth Butler Cordova political system It isn’t clear whether producer Kira Bindrim

works. the same-sex marriage EDITORIAL AND ADVERTISING OFFICES But it was a very vote is a unique event in 711 Third Ave., New York, NY 10017-5806 editorial: 212.210.0277 Fax 212.210.0799 rare event in istockphoto Albany—the result of advertising: 212.210.0259 Albany, where no enormous pressure Cable craincom nyk bill is brought to floor in either the Assembly or the Senate from a powerful Democratic constituency—or the start of Fax 212.210.0499 Entire contents ©copyright 2009 Crain unless it is going to pass.That is a decision made by the something important.The budget deficit bill—a jerry- Communications Inc. All rights reserved. ®CityBusiness is a registered trademark of MCP leader of the Assembly or the Senate, sometimes on his own rigged mess of one-shots and other gimmicks designed to Inc., used under license agreement.

and sometimes in consultation with his members. When a avoid the reality that the state’s income doesn’t cover what it TO SUBSCRIBE: bill is considered on the floor, all of the members of the spends—was debated behind closed doors and brought to Call 888.909.9111; fax 313.446.6777. $3.00 a copy, $59.79 one year, $109.79 two years. majority party vote in favor of it.The minority members the floor for a perfunctory vote along party lines. No www.crainsnewyork.com vote in lockstep as well, usually against but sometimes in legislator will be held accountable. ADVERTISING AND MARKETING favor. Bills always pass either unanimously or by a margin Gay rights activists can see a clear path to victory on advertising director Trish Henry that mirrors the majority-minority split. same-sex marriages.The rest of New York has caught a rare real estate sales manager Cornelius P. Gore senior account managers The upshot, of course, is that no one can be held glimpse of the way to better government. Irene Irvill, Courtney McCombs, William E. Squitieri account executives Anthony Mowad sales manager, classified print & online John Gallagher sales coordinator, print & online CRAIN’S ONLINE POLL COMMENTS Lulé Haznedari newsletter product manager Alexis Barney IS OBAMA’S credit Todd J. Masura 313.446.6097 AFGHANISTAN SURGE marketing director Amy Crossman Don’t count Times Sq. out circulation manager Andrea Richardson THE RIGHT MOVE? assistant circulation manager NO EPITAPHS NECESSARY Rosalie Ford Date of poll: Dec. 2 general manager, interactive 304 votes for over a century, New Yorkers could Marc Minardo Yes. It will break the count on two things: dramatic doomsayers web developer, interactive Chris O’Donnell No. Afghanistan is a Taliban’s momentum predicting the death of the theater and the quagmire. More and allow Afghans to death of Times Square. We read it again in maintain their own NEW YORK PRODUCTION troops only mean Crain’s (Nov. 30), but the actual facts show that more U.S. casualties. security by Obama’s production and pre-press director 2011 deadline. the doomsters are dead wrong. Michael Corsi According to real estate data company advertising production manager CoStar, 83 relocation or renewal deals totaling Suzanne Fleischman Wies 3,012,168 square feet of Class A office space PUBLISHED BY CRAIN COMMUNICATIONS INC. 28% . were signed within the Times Square Alliance 36%. chairman Keith E. Crain district in 2008 and 2009. Companies like buck ennis president Rance Crain

Viacom, British Telecom, Dickstein & NEON JUNGLE: Bright lights, big crowds in Times Square secretary Merrilee Crain

treasurer Mary Kay Crain . Shapiro, Comcast and Showtime chose to be 36% here, as did national retailers American Eagle, executive vp, operations William Morrow Forever 21, Sephora and MAC. razzle-dazzle retail—remain as appealing as senior vp, group publisher Gloria Scoby group vp, technology, circulation, An August 2009 survey of seven locations ever. manufacturing Robert C. Adams No. Obama should in the bowtie showed a 4.4% uptick in tim tompkins vice president/production & deploy all the extra pedestrian traffic even as the number of President manufacturing David Kamis troops his generals had tourists coming to New York was dropping, Times Square Alliance chief information officer Paul Dalpiaz requested. The U.S. and fourth-quarter Broadway attendance to corporate circulation/audience should stay as long as development director Kathy Henry necessary to defeat the date is up 9.2% compared with last year. HEALTH CARELESS Taliban and al-Qaida. While Times Square obviously faces the founder G.D. Crain Jr. (1885-1973) chairman Mrs. G.D. Crain Jr. (1911-1996)

bloomberg news same economic challenges as the rest of New despite the endless health care debate, what For this week’s questions: Go to York City, the actual facts suggest that its neither of the opinion pieces in the Nov. 30 www.crainsnewyork.com/poll to have your say. core strengths—superb location and issue dealt with is that health “care” has transportation, great entertainment and See COMMENTS on Page 11

10 | Crain’s New York Business | December 7, 2009 20091207-NEWS--0011-NAT-CCI-CN_-- 12/3/2009 8:27 PM Page 1

Daniel Rowen and J. Max Bond Jr.; real estate great Aaron Gural;Albert Gordon,former chairman of Kidder Peabody; mutual fund pioneer Jack KATE SPADE Dreyfus; James Davant, former ANDREA JUNG CEO of PaineWebber; junk bond BRIAN WILLIAMS king Frederick Joseph; Sheila BRIAN CASHMAN Lukins, owner of the Silver Palate; FUNKMASTER FLEX and restaurateur Jan Mitchell. WHO’S NEXT? Media and letters lost some giants,most notably Walter Cronkite, the dean of broadcast journalists and one of the most trusted voices in America. Don Hewitt created and produced 60 Minutes for CBS. LATE GREATS (From top left to right): Whitelaw Reid rose to chairman of J. Max Bond Jr., Samuel Heyman, the family-controlled New York Marine Lance Cpl. Alberto Francesconi, Herald Tribune. We will miss pub- Irving Penn, Selma Weiser, James Brady, lisher Richard Seaver of Arcade John McGillicuddy, Marilyn French, Gerald Schoenfeld, Bruce Wasserstein, Publishing, Wilbert Tatum of the LAST CHANCE TO NOMINATE Walter Cronkite New York Amsterdam News, and Al- fred A.Knopf Jr.of Atheneum Pub- A CRAIN’S 40 UNDER 40 lishers;also writers Frank McCourt, James Brady, Sidney Zion, Budd Do you know someone who is young, driven and Schulberg, Nan Robertson, Do- making their mark in business in New York? Crain’s is Remembering minick Dunne,Marilyn French and now taking nominations for our annual 40 Under 40 Sarah E. Wright. issue where our editors select and profile 40 rising The arts world mourns Carolyn stars from New York across a multitude of industries. George, former City Ballet dancer and co-founder of the National some fine NYers Nominate your star today by logging on to Dance Institute; dancer and avant- garde choreographer Merce Cun- www.crainsnewyork.com/nominate. e said goodbye to some notable New York- ningham, who challenged his viewers in the past year,people who have left their ers by setting his ballets to “music” Nominees must be under the age of 40 on the mark on the city. such as engine sounds; fashion pho- publication date, March 29, 2010. tographer Irving Penn; and com- John McGillicuddy was chairman and poser, teacher and musician Leon CEO of Manufacturers Hanover when he DUE TO POPULAR DEMAND, NOMINATION Kirchner. DEADLINE EXTENDED TO DECEMBER 11, 2009 engineered its merger with Chemical Bank, ushering in an era of Gerald Schoenfeld, chairman of W the Shubert Organization, was a consolidation in that industry. Mr. McGillicuddy was a revered leader on Broadway and producer of www.crainsnewyork.com/nominate civic leader who was active in helping our city through its fiscal some of its biggest hits.The theater also lost Robert Anderson, who crisis in the mid-1970s and was the takeover of Nabisco.At his death he wrote Tea and Sympathy, producer longtime chair of the area Boy was chairman and CEO of Lazard Morton Gottlieb, actor Lou Jacobi, Scouts. and the owner of New and Gilberto Zaldivar, founder of George Weissman York magazine. Repertorio Español. built Philip Morris into a The business world The public sector will miss for- powerhouse, and he led also lost corporate mer Bronx Congressman Paul Fino, the company to provide raider Samuel Heyman; state senators Olga Méndez and significant support for Selma Weiser,creator of long-serving John Marchi, presi- the arts.He served on the fashion retailer Chari- dent of the New York City Transit board of the Whitney vari; Lynn Pressman Authority Alan Kiepper, arts advo- Museum and later Raymond, CEO of cate Schuyler Chapin, employment chaired Lincoln Center Pressman Toy Co.; fin- statistician and data interpreter for the Performing Arts, ancier Lionel Pincus; Samuel Ehrenhalt, and municipal leading it in new pro- Milton Parker,a partner labor leader Charles Hughes. gramming directions. ALAIR in the Carnegie Deli; Marine Lance Cpl. Alberto Master dealmaker TOWNSEND adman Charles Peebler; Francesconi of the Bronx was killed Bruce Wasserstein was test-preparation czar on New Year’s Day when a land involved in many of the Stanley Kaplan; former mine exploded in Afghanistan. I most storied mergers and takeovers MetLife Chairman George Jenkins; join his family and friends in of his time, including KKR’s architects Charles Gwathmey, mourning him.

COMMENTS

Continued from Page 10 thorough, in-depth blog, Atlantic GONNA NEED A BIGGER ARMY essentially become a for-profit Yards Report: “The Court of industry, both shareholder-driven Appeals did not endorse the barack obama’s Afghanistan plan and dominated by doctors acting as public good. It chose not to is the right move, but there is no for-profit concerns. substitute its judgment for the assurance it will work (see poll). The influence of monied special Empire State Development He is committing the maximum interests makes it unlikely that the Corp.’s questionable—but still force we are willing to deploy for debate will ever address what is really ‘rational’—determination of the the maximum time we’re willing to wrong with the system. public good. Nor have ‘elected deploy it. If the Afghan government —miriam s. michel officials’ implemented can’t control its own territory in the development plans.” long run, then it isn’t worth further DEFINITION OF PUBLIC GOOD This deal is backdoor in so many involvement by the U.S. ways, and that is why this “holdout” Long-term, we do need a larger crain’s is wrong on key points is joining 4,700 others in standing army. If trouble broke out in its Nov. 30 editorial, supporting Develop Don’t Destroy in Korea today, as one example, “Affirming Atlantic Yards.” As Brooklyn in its legal fight. who could we possibly send there? Norman Oder puts it in his —carol wierzbicki —george bogdan

December 7, 2009 | Crain’s New York Business | 11 CN013379 12/2/09 11:56 AM Page 1 2010: THE CHANGING FACE OF THE NEW YORK MARKET Crain’s 2010 Census White Paper

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December 7, 2009 | Crain’s New York Business | 13 20091207-NEWS--0013,0014-NAT-CCI-CN_-- 12/3/2009 7:18 PM Page 2

REPORT BEST PLACES TO WORK

WHAT ABOUT THE Where the top-notch employers are PERKS? % OF WINNERS OFFERING EACH Continued from Page 13 ing by Atelier’s list of projects, they don’t power themselves out.” their dogs. Three-quarters offer is tiny Atelier Ten, where work-life which include the new Comcast Managing the competing de- programs to help workers deal with balance is a watchword. The Lon- skyscraper in Philadelphia and Pelli mands of family and career is a ma- personal issues; 78% allow telecom- Telecommuting78% don-based environmental design Clarke Pelli’s green condo in Battery jor theme at virtually every one of muting. consultant encourages its 120 em- Park City. the companies in the Best Places to A handful of companies, like ployees to put a reasonable cap on Work roster. Many offer help with Atelier, are forging cultures that their hours. It offers four weeks of The right current elder care and child care; some offer actively discourage workaholics. 33%Job sharing vacation, 21 paid days off and gen- “we’re a very young, fast-moving child-bonding days for new parents, Kimpton Hotel & Restaurant erous leave policies that include job company that provides expert con- lactation rooms and on-site health Group—which has a remarkable protection. sulting, and our staff need to be care checkups. Others subsidize 3% turnover level in an industry Does all this have a cost in mentally sharp,” says co-head Nico concierge services that can pick up where losing 50% of employees in a 85% terms of productivity? Not judg- Kienzl. “It’s really important that employees’ dry cleaning or walk year is not unheard-of—encourages Flexible spending accounts

Help with23% child-care costs

Tuition80% reimbursement

Paid time68% off for volunteering

30%Profit sharing

workers to leave at family-friendly hours. The recession doesn’t seem to have made a dent in top workplaces’ commitment to helping employees cope with the stresses of modern life.A recent survey by the Manhat- tan-based Families and Work Insti- tute found that 81% of companies nationwide are sticking with their worker-friendly programs, while 13% are expanding them. A few of the Best Places are even extending their flexible work policies, perhaps ME. MY FAMILY. to reduce layoff anxiety or soften the brunt of cuts. This summer, for instance, accounting firm Marcum cut salaries MY BUSINESS. MY EMPLOYEES. by 10% for four months, but gave employees more vacation time in return.SBLI USA Mutual Life Insur- I NEED FINANCIAL SOLUTIONS ance trimmed its work force and froze salaries this year, but it expanded the number of casual-dress THAT PROTECT US ALL. days. The payoff there are good reasons why such policies are here to stay: Re- search shows that in the long run, flexible policies save money in turnover costs,because workers who At Guardian, we understand your small business needs. Your Guardian find such attractive positions are representative works right alongside you to help you make the right staying put. Nearly two-thirds of financial decisions. Our wide range of financial and employee benefit the Best Places companies have an- solutions helps you attract and keep key talent, protect your income, nual turnover of less than 10%. and ensure a secure retirement for you and your employees. Our When the recession began, experts speculated that the movement ﬁ nancial stability cultivated over 149 years, prudent risk management, to give workers more time off and and reputation for doing the right thing mean we’ll be there for you flexibility in exchange for accepting now and in the future. To get the right solutions for your business lower pay would help institutional- needs, visit us at www.GuardianLife.com. ize a healthier work-life balance. That remains to be seen. But if the Best Places to Work are L I F E I N S U R A N C E D I S A B I L I T Y I N C O M E I N S U R A N C E L O N G T E R M C A R E I N S U R A N C E I N V E S T M E N T S R E T I R E M E N T E M P L O Y E E B E N E F I T S as much pacesetters as they are ©2009. Disability income products and Long Term Care Insurance underwritten and issued by Berkshire Life Insurance Company of America, Pittsﬁ eld, MA, a wholly owned stock subsidiary of The Guardian Life Insurance Company of America standouts, schedules that look (Guardian), New York, NY. Products not available in all states. Product provisions and features may vary from state to state. something like Rob Levine’s may Investments are offered through Park Avenue Securities LLC (PAS), 7 Hanover Square, New York, NY 10004. PAS is an indirect wholly owned subsidiary of The Guardian Life Insurance Company of America, New York, NY. become a lot more common. The PAS is a member FINRA, SIPC. Fi n a n c i a l i n f o r m a t i o n c o n c e r n i n g T he G u a r d i a n L i f e I n s u r a n c e C o m p a n y o f A m e r i c a a s o f 12 / 31 / 07 o n a s t a t u t o r y b a s i s : A d mssets i t t e d= A $28.3 Billion; Liabilities = $24.6 Billion (including $20.8 Billion of Reserves); and Surplus = $3.7 Billion. partner at accounting firm Eisner works at home on summer Fri- days—and knocks off early to go kayaking on Manhasset Bay.

14 | Crain’s New York Business | December 7, 2009 20091207-NEWS--0015-NAT-CCI-CN_-- 12/3/2009 4:29 PM Page 1

REPORT BEST PLACES TO WORK

were met, and each employee got a 2% lump-sum bonus. Mission accomplished. #8 Rand Engineering & Architecture NYC EMPLOYEES 65 Building renovation and maintenance Knowledge is power

Steven Tingir had the ultimate company mentor when he joined Rand more than 17 years ago: the firm’s founder, Stephen Varone. The company has grown a lot since then, but Mr. Varone and other executives still aim to know their employees as well as they know the firm. Each new worker is paired with a CONGRATS ON YOUR ENGAGEMENT: buddy who helps him or her learn Atelier Ten fosters work-life balance for Rand’s policies, procedures and culture. its committed staffers, led by NY office “The company makes people proud of co-head Nico Kienzl (center, in black). what they do,” says Mr. Tingir, now chief specification writer.

buck ennis Rand further creates a nurturing environment by injecting some fun into are feted at a conference-style global the New York lawyer count grew Junior staffers can work at an the workday.There’s a pool table in #1 Atelier Ten event attended by 10,000 employees, overnight to 200 from 130, as Bingham overseas office for a week, a program Rand’s recreation room, decorated with NYC EMPLOYEES U.S. EMPLOYEES and meet with executives including chief merged with a firm that had a strong tax hatched in the New York office. And souvenirs of employees’ travels. Bringing 27 44 Steve Ballmer. “People come out of that practice. “We had regular assemblies when employees need a break from back a memento worthy of display earns meeting every year and say,‘How do I when discussing the merger, explaining working for those Freddys, they can $50. The firm also has an exercise room Environmental design consulting, get there?’ ” says Laura Wallace, general exactly what was going on,” Mr. drop by a bright “fun room” with purple, and offers free in-house yoga classes. building services engineering manager of the New York district. Dombroff says. And when layoffs at orange and green walls, where they can — A marathoner, not a sprinter other firms got worse, he stepped up the find you guessed it—a Wii. #3 Epic Advertising group meetings. #9 Kimpton Hotel Maintaining a mind-numbing schedule is #7 YAI Network & Restaurant Group no badge of honor at Atelier Ten, which Inc. #5 Administaff Inc. rises to the top of the Best Places to NYC EMPLOYEES U.S. EMPLOYEES NYC EMPLOYEES U.S. EMPLOYEES NYC EMPLOYEES U.S. EMPLOYEES NYC EMPLOYEES U.S. EMPLOYEES 2,140 3,166 369 6,700 Work in New York City with a culture 63 114 34 1,954 that encourages employees to take time Human services Boutique hotels to unwind and regenerate. Online marketing Human resources services The London-based firm opened a More a mission than a job Red-carpet benefits Big Apple outpost nine years ago and Inclusive spirit on tap Big, but with a small-business touch today has four offices in the U.S. The It’s difficult to remember life before the Kimpton is in the business of pampering concern for work-life balance at Atelier At Epic Advertising, the work is serious— When Rick Gibbs was coping with a Americans with Disabilities Act, when guests, and it doesn’t skimp on its staff, Ten means that all employees get four the company creates Internet-based family situation that required extensive many disabled people made do with either.The San Francisco-based operator weeks of vacation and 21 additional paid campaigns for the likes of Pfizer and travel, his bosses offered him a flexible dreams of mainstream lives. At YAI of 55 luxury boutique hotels—including days off a year. Many employees work Nokia—but execs take a light approach schedule. The senior human resources Network, such individuals—customers, three in Manhattan—provides one- with a mentor to help them attain—and when it comes to the workplace. They specialist says that’s just one way in as the group calls them—are the center month paid sabbaticals to managers and meld—personal and professional goals. belt songs at karaoke, throw gutter balls which Administaff is “a big company of a mission heartily embraced by staff. executive chefs who have been with the Having employees at the top of their on bowling nights and show up every with the feel of a small one.” “We’re committed to a set of values that company for seven years. A mentoring game is critical when undertaking high- Halloween in full costume. Employees can contribute to a fund we bring to life,” says Chief Executive program pairs senior-level managers profile commissions, such as the new “It’s very much a work-hard, play- to help co-workers cope with an illness, Philip Levy, a 40-year YAI veteran. with up-and-coming managers for one Comcast skyscraper in Philadelphia and hard space,” says Chief Operating death or other family emergency.They As staffers see customers facing new year; this year, the program emphasized The Visionaire, Pelli Clarke Pelli’s green Officer Charlie Nowaczek, who started also get four paid hours off per month to challenges, the network of seven developing minority leaders. condo in Battery Park City. a rock, ska and blues fusion band with a volunteer. Mr. Gibbs, who has been at agencies, which has a $220 million Such perks, which also include health “We don’t want people to burn out in co-worker. Administaff for seven years, recently budget, adds programs to help. benefits for part-time workers, contribute three years and go somewhere else,” says Chief Executive Don Mathis hosts helped paint a Brooklyn school. Average pay for direct service to a paltry 3% employee turnover rate. Nico Kienzl, co-head of the New York quarterly all-hands meetings to fill Administaff ’s core business is professionals and office staff is about Typically, hotels lose as many as half of office. “Our attitude is more that of a staffers in on financials and reward top running other businesses’ HR functions. $32,000. What the nonprofit lacks in their employees every year. marathon runner than a sprinter.” performers. An emerging-managers When the economy tanked, internal big pay numbers, it makes up for with “The culture here provides a healthy The fact that the company has a program zeroes in on standout staffers, communication increased. “The level of competitive benefits and a participatory work-life balance that allows you to mission—shaping a more and executives regularly tap employees attention that was given to employees— management style. At a brainstorming leave the office at a family-friendly environmentally sustainable world—also for late-night strategy sessions, dubbed keeping us focused, assuring us— session last year to address ways to cope hour,” says Lynn Griffith, the New York helps keep Atelier Ten employees “Hard Day’s Nights.” And a few freebies resulted in us weathering the storm with the recession, staff set collective area director of people and culture. “It’s committed. “Everyone who works here never hurt: Epic treats employees to extremely well,” Mr. Gibbs says. goals. Among them: Avoid layoffs, and encouraged and understood at Kimpton.” really believes in what they do,” says pizza on Fridays, cake on birthdays and keep YAI financially viable. All goals Continued on Page 16 marketing manager Tara Eisenberg. champagne on special occasions. #6 GolinHarris ABOUT THE PROJECT #2 Microsoft Corp. #4 Bingham NYC EMPLOYEES U.S. EMPLOYEES 30 379 TO FIND NEW YORK CITY’S BEST PLACES TO WORK, Crain’s partnered with Best NYC EMPLOYEES U.S. EMPLOYEES McCutchen Public relations Companies Group to conduct 13,991 surveys of employees in New York City. 747 55,843 More than 150 companies participated in the process. To be eligible, NYC EMPLOYEES U.S. EMPLOYEES Recognition at every turn Technology 301 2,032 businesses had to have 25 or more employees in New York City. Scores from employees, who answered a confidential 76-question survey, were combined I’m a PC, and I’m important You think the Nintendo Wii Law is a healthier with scores from a survey of the employers, which included questions about alternative to video games and television, Microsoft takes advantage of its size and Island of stability don’t you? You can thank GolinHarris benefits and policies. Results from the employee surveys made up 75% of global reputation to reward employees. for planting that idea. Nintendo is the total score; results from the employer surveys made up 25%. It offers top-notch benefits, such as Bingham has long had a reputation as a among the clients of this top public This section was written by Theresa Agovino, Barbara Benson, Kira Bindrim, 100% coverage of health care costs and worker-friendly law firm. In a year when relations firm, whose most famous client Aaron Elstein, Erik Engquist, Lisa Fickenscher, contributions for elder care, adoption many rivals let lawyers go, Bingham’s New is McDonald’s; it has represented the Matthew Flamm, Amanda Fung, Steve KEY and tuition. Employees also get as much York office absorbed 50% more attorneys fast-food chain for 50 years. Garmhausen, Erik Ipsen, Daniel Massey, Judith as $800 a year for fitness expenses, and protected everyone from layoffs Prestige is one reason the agency LARGE COMPANIES which can include anything from gym during a merger. Talk about friendly. rarely loses an employee to another firm. Messina, Adrianne Pasquarelli, Elaine Pofeldt, 500 or more U.S. employees fees to a mountain bike. The Boston-based firm had a round Recognition is another. GolinHarris Hilary Potkewitz and Miriam Kreinin Souccar. Though the company cut 10% of its of job cuts in March, but New York offers bonuses and promotions from Special thanks to HR New York for help in MEDIUM COMPANIES positions in New York state over the past Managing Partner Robert Dombroff kept within, as well as more playful types of promoting the contest. 150-499 employees year, staffers say they are still motivated his office intact by shifting lawyers into recognition, such as the Freddy awards: To be surveyed for next year’s list, e-mail SMALL COMPANIES by the chance to be tech trendsetters. busier fields, like restructuring and tax. desktop “Oscars,” named for Chief [email protected]. Microsoft names 100 employees to The key is open communication— Executive Fred Cook, that are given for 50-149 employees its Circle of Excellence each year; winners which was particularly important when winning new business.

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REPORT BEST PLACES TO WORK WHO’S HIRING Companies that had 100 or more new reasons they work for the company is the hires in their last fiscal year New hires are given mentors to help #10 Michael Page mission,” Ms. Taylor says. “They feel #18 Goldman Sachs them advance in the firm. Indeed, 15% that their work is meaningful.” of Citrin’s employees were promoted International 901 Group Inc. this year. “People are very comfortable NYC EMPLOYEES U.S. EMPLOYEES Skanska USA NYC EMPLOYEES U.S. EMPLOYEES here and feel they can grow,” says Jean 138 350 #13 HOK Group Inc. 6,800 12,200 Heaton, marketing manager. “Everyone takes into consideration how they can Recruiting NYC EMPLOYEES U.S. EMPLOYEES Financial services 1271,37 7 757 497 make the firm better.” Goldman Sachs YAI Network A place to start out—and stay Architecture Heaven for Type A’s #21 Goodwin Procter Erica Chargar never thought she’d be Greenest design firm To many, Goldman Sachs is a symbol of 197 145 NYC EMPLOYEES U.S. EMPLOYEES leading negotiations and making key Marcum Eisner everything that’s wrong with Wall 300 1,703 decisions for a global company in her HOK, one of the largest architectural Street, with its lavishly paid employees first job out of college. But that’s exactly design firms in the world, knows that the and former executives trolling the halls Law what the 23-year-old has been doing in daily grind of planning and sketching 115 115 of power in Washington and overseas. her year-plus as a consultant with Michael can turn even the most diligent worker Liquidnet Booz But there’s a simple reason people want a Home for family-minded lawyers

Page International. She places people in into mush. So the firm hosts two wellness istockphoto Goldman job: It’s as close to a ticket to key HR jobs in the retail, pharmaceutical days each month, during which an on-site wealth as one will ever find in this world. For Goodwin Procter staffers, having a and financial services industries. massage therapist and an acupuncturist make a real difference to your life and The average compensation per employee nanny call in sick doesn’t mean a missed “I graduated from college with no each conduct 30-minute sessions. your ability to work productively if you at the firm is $658,000 this year, and it’s day of work or a reprimand for bailing on experience, and the learning “[Our bosses] do what they can to know these things are taken care of,” been even higher in the past. a big presentation: Under the firm’s opportunities have been tremendous in a make people happy,” says Kimberly Ms. Itkin observes. Working at Goldman is no picnic, emergency child-care policy, each worker short period of time,” says Ms. Chargar. Dowdell, who was recently given the The firm also scores big points for its however. The hours are brutal, schedules gets 20 opportunities a year to use its day- Many recruitment firms pay only chance to move out of an architecture collaborative work environment and are unpredictable at best, and former care center. And two years ago, Goodwin commission, chewing up and spitting out job into a business development job. “It open communication among partners, employees say the team-oriented culture introduced an elder-care benefit to staff a string of young professionals. Michael has been great to create my own path.” associates and staff. “We really try to be makes it hard for individuals to be seeking support for aging family members. Page offers salaries that start at $45,000, Recently named the greenest firm in responsive to what people need,” Ms. recognized. “We don’t want to lose any bonuses, and a chance for entry-level staff the business by Engineering News Record, Itkin says. That said, pay at Goldman is sky- employees because they’re making a to sit side by side with senior managers. HOK gives employees a chance to get in high because the firm’s profits are, too. decision between family and work,” says Quarterly company-sponsored on the fast-growing field of green design Decades of success have sealed its place Jamie Krulewitz, director of professional events have included karaoke and World by covering prep costs for the “Leadership #16 Frankfurt as the most prestigious firm in banking. development and training. Series viewing parties. The prize for Ms. in Energy and Environmental Design” And its extensive alumni network opens The system seems to be working. Chargar’s all-female team’s performance exam, which are north of $1,000. “That Kurnit Klein & Selz doors for employees looking to shift into About 50% of the firm’s executives and in a recent month: a day of pampering, is big financial support,” says Derek NYC EMPLOYEES 99 hedge funds, private equity, government 55% of its staff are women—high complete with manicures and pedicures. Ullian, an architectural technician. or most anything else. percentages in a field where few women A full 60% of the New York staff is Law make it to the top ranks. To focus on the LEED-certified. particular challenges facing female #11 Friedman The creative side of legal work #19 WilmerHale lawyers, a task force dedicated to gender- based challenges meets once a month. NYC EMPLOYEES U.S. EMPLOYEES Attorneys don’t often describe NYC EMPLOYEES U.S. EMPLOYEES 155 275 #14 Marcum law firm 315 2,191 life as “fun and creative,” but that’s NYC EMPLOYEES U.S. EMPLOYEES Accounting 140 850 probably because they don’t work with Law #22 Silverstein Michael Frankfurt, a founding partner of Not just a number Accounting Frankfurt Kurnit Klein & Selz.The firm, Progressive and prestigious Properties Inc. which focuses on media, technology and NYC EMPLOYEES 187 When Jerry Jacobik interviewed with an Flexibility and fairness add up intellectual property law, encourages Remember Dewey Bozella, the 50-year-old HR staffer at Friedman six years ago, the attorneys to get involved with arts man released from prison in October Commercial real estate development University at Buffalo alum was There’s a Happiness Committee at Marcum gatherings, be they local fundraisers or after serving 26 years for a murder he and management immediately introduced to one of the that doles out free shoe shines and panel discussions at Cannes. didn’t commit? He has WilmerHale to partners who had also attended the State arranges ice cream socials and the like, “Sure, you’re a New York lawyer, but thank.The firm spent 2,500 hours worth A purposeful private company University of New York. but Managing Partner Jeffrey Weiner you should also be integrating with $950,000 to win his release. “That’s the policy around here; people says the formula for satisfying employees culture and be out in the city,” Mr. About 6% of the hours that lawyers Though Larry Silverstein’s quest to are friendly,” says the audit manager, who is simpler than that. “Treat them the way Frankfurt says. “That’s how we get devote to the firm, which serves major redevelop the World Trade Center site took the job in part because of Friedman’s you want them to treat your clients,” he business.” Pro bono projects give lawyers corporate clients, are pro bono.“More than sometimes lands him in the middle of personal touch. “I didn’t want to go to a says. “If you have happy people, they’re a chance to work with up-and-coming any other law firm I’ve ever seen, this place ugly controversies, there’s no question firm where I felt like a number.” going to treat clients appropriately.” documentary filmmakers, indie has an enormous commitment to public that his mission imbues his employees The atmosphere of goodwill extends Marcum employees enjoy great musicians, and the like. interest work,” says Paul Engelmayer, the with a sense of public purpose rare in a to the firm’s perks, which include a flexibility. Kids have a 3 p.m. soccer game? IP law is changing rapidly as each partner in charge of the New York office. private company. summer golf outing, conference-room Take the company-issued laptop home, new technology platform evolves, and “People here feel they’re working at an Mr. Silverstein reinforces the idea breakfasts on Saturdays during tax season, and after the game, tap into Marcum’s that requires a dynamic way of looking organization that has a soul.” that his company, one of the city’s largest and a 10-minute visit with a massage network and catch up. Want to do holiday at copyrights and idea protection. “The Lawyers are allowed to telecommute developers, is part of the community; it therapist once the rush is over. Along shopping online or post a Facebook new media world is raising all sorts of 40% of the time. And the parental leave regularly sponsors blood, food and with other flexible-scheduling options, message? The firm doesn’t hover over its interesting and exciting legal questions,” policy is among the most generous in the clothing drives. He also gives employees workers at Friedman can share jobs. employees; it judges them on Mr. Frankfurt says. field: The primary caregiver of a a half-day off every Friday so people can “The firm has given me the performance. “We realize everyone has a newborn or adopted child receives 18 spend more time with their families. opportunity to grow along the way,” says life outside of work,” says Mr. Weiner. weeks of paid leave, and a secondary “There is a real emphasis here on the Mr. Jacobik. When the recession hit, pay cuts ran #17 Appssavvy Inc. caregiver gets a four-week leave. people around us,” says Joanne Hsieh, an from the boss on down—saving 30 jobs— NYC EMPLOYEES 29 analyst in the operations department. and employees got extra vacation. “We’re The firm promotes loyalty—roughly #12 SBLI USA all in this together,” Mr. Weiner explains. Technology/marketing #20 Citrin a quarter of the staff has worked there for over a decade—by hosting parties Mutual Life Insurance Startup with a family feel Cooperman & Co. and annual retreats. There’s even an #15 Hunton occasional trip on the Silverstein yacht. NYC EMPLOYEES U.S. EMPLOYEES When Oakley sunglasses NYC EMPLOYEES U.S. EMPLOYEES 85 208 appeared on 195 314 & Williams avatars in Facebook’s Rock Legends Insurance virtual game this year, it was the folks at Accounting #23 Eze Castle NYC EMPLOYEES U.S. EMPLOYEES 129 1,843 Appssavvy who put them there. Making Room to move up and give back connections on marketing’s edge, where Appreciation during tough times Integration Inc. Law branding meets social media, is a point Earlier this year, Once young accountants NYC EMPLOYEES U.S. EMPLOYEES Alix Purcell skipped work of pride for the mostly young employees. have snagged jobs 110 215 to serve meals at Holy Apostles Soup No more forgotten dry cleaning Many use “appssavvy” as their last names at Citrin Cooperman, few depart. Last Kitchen in Chelsea. The marketing and on their Facebook profiles, to show their year, not one employee left the company Technology communications manager has played Lawyers’ lives are notorious for the long allegiance to the firm. for another job, even though the labor hooky several times to help a favorite days and weekends in the office, which Despite long hours, some staffers market for accountants was relatively Royal benefits charity, with the blessing of her employer. often means a serious loss of personal enjoy their work so much that they have healthy.The four-week paid sabbatical Two full-pay “personal commitment time. Hunton & Williams tackled this to be forced to take vacations. that employees get after six years provides Thursdays at Eze Castle Integration end days” per year are among the reasons that aspect of law firm life head-on by “It’s not about the trips or holidays; a powerful incentive to stay. with employees cracking open beers at more than 90% of SBLI employees say starting a pilot program in its New it’s No. 1 about working for a company Management works hard to make the company’s expense. But it’s more in internal surveys that they like their jobs. York office to subsidize a personal that is doing the most exciting things employees feel appreciated, even in a than happy hours that lure people to the Public service programs introduced by concierge service. Missed pharmacy out in the market,” says Chief Executive difficult environment. When Citrin firm, which provides back-office support Vikki Taylor, who became chief of the hours and forgotten dry cleaning have Chris Cunningham, who founded the canceled its annual summer outing this to about 500 hedge funds. 73-year-old company in 1999, go hand- become a thing of the past, says partner firm in early 2008. year because of the recession, everyone The company offers unusually good in-hand with SBLI’s goal of providing Judith Itkin. Nevertheless, there is a trip to the got a day off instead. During tax season, benefits for its size. After years of insurance to working-class people The service is widely popular, used Hamptons every year, along with flexible accountants get treated to dinners for charging employees $1 a year for health ignored by financial services behemoths. for everything from walking a dog to holidays, company-paid MetroCards, two, and those billing more than 2,000 insurance, it upped the ante to 5% of “Our employees tell us one of the top waiting in line at the DMV. “It can team dinners and a food-stocked fridge. hours per year receive a $500 bonus. costs, but that’s still much less than the

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REPORT

usual price at similar-size firms. Mr. Carlos has forged a niche Massages and chiropractic care are representing nonprofit tenants, which available at the office, as are flu shots. has helped him distinguish himself in There are 25-cent sodas, for the time the crowded world of commercial before the happy hour kicks in. “We’re a brokerage. “There is a real entrepreneurial family-oriented company and want to spirit here,” he says. “If you work hard, prove that,” says the head of the New you will succeed.” York office, Vinod Paul. Benefits are sweet, too, and top brokers are treated to annual trips to destinations #24 Hachette Book such as Italy, Japan and Costa Rica. Group #27 Liquidnet Inc. NYC EMPLOYEES U.S. EMPLOYEES NYC EMPLOYEES U.S. EMPLOYEES 396 941 327 341 Publishing Financial services The happiest book publisher Nonstop work, but valued workers

Some firms boast of their small-company Liquidnet traditionally pays bonuses of feel. At Hachette Book Group, the cash and equity twice a year. This year, atmosphere is more like that of a when it looked as if the cash portion friendly small town. There’s an annual would be a casualty of the economic bake-off, a “hallway happy hour” that crisis, managers decided to forgo their departments take turns hosting, and own bonuses so they could afford to lunchtime get-togethers for employees send out checks, albeit smaller ones, to interested in knitting, practicing yoga or rank-and-file employees. speaking French. “With everything going on in the “My boss and I recently decided to world, we had to decide what are test some cookbook recipes, and we gave constants here,” says Jerilyn Medrea, a dinner party for five colleagues and their global head of talent engagement. spouses,” says Executive Editor Michelle The company—which helps Rapkin. “It’s a pretty good indicator of institutional investors trade large blocks the nature of a place when you want to of stock anonymously—also decided to spend free time with your colleagues.” keep its health insurance plan, even after The company also focuses on rates went up by 40%, to minimize mentoring junior staffers, and it offers a disruption to employees. generous tuition-reimbursement program. Liquidnet also donates 1% of its The good vibes have been helped by revenue to charity. Its major initiative is Hachette’s long-running hot streak. For building a high school and housing in the second year in a row, it will give Rwanda for 500 orphans of the genocide; everyone a bonus—something unheard- so far, 40 employees have traveled to of in book publishing these days. Africa at the company’s expense to paint walls and meet the students. #25 Anchin Block & Anchin #28 Undertone NYC EMPLOYEES 370 Networks Accounting NYC EMPLOYEES U.S. EMPLOYEES 79 100 Hard work, but lots of play Online advertising network

If wrestling with the financial statement Good place to grow of a Fortune 500 company induces a headache, accountants at Anchin can zip Undertone Networks, an eight-year-old right up to the relaxation room. Dimmed online ad network whose clients lights and electric massage chairs might include Radio Shack and Hyatt, has do the trick, but if not, there’s a pingpong found that treating employees well pays table nearby to work out the frustration. off. That’s why it offers a $400 gym- And what could be more relaxing than reimbursement plan and covers 100% of fishing? Earlier this year, the firm medical benefits costs. chartered a boat for a New Jersey trip. Undertone also stands out for its Anchin also aims to give employees training programs. There are speakers diversions that serve a purpose. This fall, and webinars, as well as an annual week executives organized an in-office bazaar of exercises that includes having to give folks a head start on gift buying. employees shadow members of different To help staff develop professionally, departments. “It gives everybody a better the firm runs Anchin University, which understanding of why we’re all here,” teaches managerial classes on motivating says Anna Wear, account coordinator. and delegating. It has a buddy system for In January, Undertone appointed a new hires, along with extensive coaching. director of training and development to “Over the years, the idea of work with employees at all levels. “Great mentoring internally has always been a people have choices of where they can big system,” says Marc Newman, work, so it’s important to keep them and Divide and conquer your Accountemps has the highly skilled associate managing partner. to grow the talent we have,” says Chief financial workload. financial and accounting professionals Executive Michael Cassidy, adding that you need to help you manage your despite the tough economy, revenues will workflow. Call us at one of our 360 #26 Studley Inc. increase by “low double digits” this year. offices worldwide today. NYC EMPLOYEES U.S. EMPLOYEES 132 504 #29 ID Media Inc. Commercial real estate NYC EMPLOYEES U.S. EMPLOYEES Entrepreneurial big company 90 149 Ad buying and planning agency When David Carlos joined Studley in 2002 as director of brand development, Stability and prestige he had easy access to top executives but never felt micromanaged. He had the Some companies claim to offer a freedom to explore new opportunities— nurturing environment, but advertising and eventually switched careers to and marketing firm ID Media has become a broker at Studley, one of the the numbers to prove it: More than a top nationwide firms specializing in third of all employees have been at the tenant representation. Continued on Page 18

December 7, 2009 | Crain’s New York Business | 17 20091207-NEWS--0018,0019-NAT-CCI-CN_-- 12/3/2009 5:30 PM Page 1

REPORT BEST PLACES TO WORK

company for more than five years. Jason Barocas, a manager who joined Berman brought more than 200 staffers “The nurturing environment is key,” the firm four years ago, says he wants LEGAL REWARDS to the NYSE after the company’s IPO says Jessica Birk, an account director who members of his team of three to be able last year. They rang the bell remotely The Best Places that pay the highest salaries started at ID Media 16 years ago. She to go to a concert if they want to, even from outside the exchange, in an credits extensive training, opportunities during tax season. “It’s a no-brainer,” Alston & Bird...... unprecedented wrinkle on the tradition. for junior people to work with senior Mr. Barocas says. “We focus on getting $236,000 RiskMetrics, which is known for its staff, and an atmosphere that encourages the job done, but we try not to interfere Bingham McCutchen ...... $197,200 corporate governance data, nurtures “a great work-life balance.” Not to with people’s personal lives.” Hunton & Williams ...... $195,217 camaraderie by insisting on open floor mention the chance to work with major plans in all of its offices. A sense of brands like American Express, Verizon Goodwin Procter ...... $193,540 equality is furthered by the fact that and Johnson & Johnson. #31 Bluewolf Inc. WilmerHale ...... $181,988 istockphoto employees are awarded identical benefits. Chief Executive Lynn Fantom says Regardless of salary level, for instance, NYC EMPLOYEES U.S. EMPLOYEES The highest-paying non-law firm: Booz & Co., at $170,000. Goldman Sachs’ bonuses that the company, which had billings of 60 120 put it outside the ballpark: Average compensation, including bonus, is $658,000. each 401(k) plan participant gets a flat more than $500 million in 2008, has $4,000 company contribution each year. maintained its stable atmosphere— Technology though three people were laid off this client’s project from a colleague’s year, and raises and promotions were Just one rule: Succeed #32 The Concept description of a gadget she loves or a show #34 Alston & Bird frozen. “It was a rough year,” she says. she saw at the Museum of Modern Art. If you’re the sort of employee Farm NYC EMPLOYEES U.S. EMPLOYEES “But we were able to achieve our goal, who needs Further bolstering employees’ morale 192 1,824 which was to preserve jobs.” to be told what to do and when, NYC EMPLOYEES U.S. EMPLOYEES is the workplace flexibility. Last year, for Bluewolf is definitely the wrong place 44 45 instance, The Concept Farm eliminated Law for you. The IT firm, which provides the distinction between sick, personal #30 Eisner consulting and staffing services and Advertising/public relations and vacation days, giving farmers a pool Communication drives organization database administration, is not of days to use as they see fit. NYC EMPLOYEES U.S. EMPLOYEES Beehive of creative thinking The free flow of information 486 521 interested in supervising its workers; it at this high- just wants results. profile firm helped forestall employee Accounting The most obvious evidence? Want a lively dinner conversation? Try #33 RiskMetrics angst during a difficult year. “This year, Bluewolf ’s “unrestricted vacation” policy. inviting guests from Fox News, that’s been high on everybody’s list,” Staffers have lives If an employee wants to go spend three Greenpeace and People.com to the same Group Inc. explains Judith DeGennaro, human weeks in Thailand, he goes—with the table. The Concept Farm did, as part of resources manager. Like many accounting firms NYC EMPLOYEES U.S. EMPLOYEES , 45-year-old understanding that his colleagues will a series bringing together an eclectic mix 188 725 When Alston & Bird had a wave of Eisner offers flextime and work-from- pick up the slack, and that when the of clients and friends, and a fun, layoffs—three in the New York office— home options and pledges to respect time comes, he’ll do the same for them. boisterous conversation ensued. Financial research and analysis along with pay cuts this year, its staffers’ work-life balance. It even throws Abuses of the policy are almost unheard- That sort of thing happens on a established practice of holding quarterly in free fruit and oatmeal every morning. of, sales director Tim Johnson says. And regular basis at The Concept Farm, Comrades with calculators town hall meetings worked to the But it’s what partner Rob Levine calls since rules are few and supervision is where the line between creative work company’s advantage. Employees are the “tone at the top” that sets the place light, there is little fuel for resentment. and fun is hard to find. When a company celebrates an initial encouraged to ask any questions of the apart. Partners have personal lives—Mr. That’s not to say that the company “Farmers,” as employees are known, public offering by ringing the New York firm’s chief human resources partner. Levine works from home on many doesn’t have a paternal side: If this year’s thrive in a climate tailor-made for sharing Stock Exchange’s opening bell, the stage They get straight answers on issues summer Fridays so he can go kayaking on revenue numbers are met, Bluewolf will ideas. Lunches around a communal table is usually reserved for a handful of key ranging from when new photocopiers Manhasset Bay in the afternoons—and whisk its employees to Cancún to encourage an exchange of information: executives. So it says a lot about will arrive to whether the firm is they think staffers should, too. celebrate. A farmer might gain inspiration for a RiskMetrics that Chief Executive Ethan financially healthy.

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18 | Crain’s New York Business | December 7, 2009 20091207-NEWS--0018,0019-NAT-CCI-CN_-- 12/3/2009 5:30 PM Page 2

REPORT BEST PLACES TO WORK

Alston & Bird also offers a 35-hour promoting from within. This fast- home, HNTB is doing the design work New York Life. It ensures that its team workweek, as well as perks such as free #36 Skanska USA growing company helps institutional on Brooklyn’s Atlantic Avenue Viaduct. can keep clients appearing high in Google backup child care. Employees get NYC EMPLOYEES U.S. EMPLOYEES investors by enabling them to talk with To handle such high-profile projects, the searches by offering a range of training bonuses of up to 9% of salary, though 2,751 7,000 handpicked industry experts via phone nearly century-old firm likes to attract opportunities, from continuing education bonuses weren’t at the upper limit this consultations, events and other means. stars—a tough challenge in a competitive classes to direct training by partners. year. Construction Coleman looks for entry-level staff industry, but not as tough if you offer The company provides plenty of Building with a personal touch with the potential to advance to its top your stars the freedom to innovate. other fuel for the young, ambitious types tiers. Most recruits start as researchers, The firm prides itself on choosing who populate the office: a fully stocked #35 Life’s WORC getting a chance to talk with industry managers who know how to run projects fridge, expense-account meals for people Skanska USA, part of a global firm based experts from the get-go. In an extensive with a light hand and create an who work late or come in on weekends, NYC EMPLOYEES U.S. EMPLOYEES 276 850 in Sweden, runs some 30 offices across training program, they are assigned environment based on trust. Employees and free lunches on Fridays. the U.S.To keep far-flung staff connected, mentors who help them advance, often set their own schedules, with the condition Disability services it takes pains to bring them together. within the first year or two. Since 50-hour that they put in a full day and achieve At every job site, workers—including weeks are typical for these busy workers, their goals. And they can speak candidly #40 Booz & Co. A hard job, but lots of support colleagues visiting from other branches— the firm has an on-site nutritionist to about their ideas with top executives at NYC EMPLOYEES U.S. EMPLOYEES start the day with “Stretch and Flex,” guide them on healthy eating. twice-monthly brown-bag lunches. 274 850 Anyone who’s ever had to sit through a 15-minute exercise sessions to keep them Many employees are intensely loyal. When HNTB’s engineers and performance evaluation can appreciate limber, give project managers a chance The first five hires at the seven-year-old planners deliver great results, the company Consulting one of the reasons Life’s WORC to see how people are feeling, and build firm have all stayed with Coleman, acknowledges them with spot bonuses or employees are so happy: They get to camaraderie. “There’s a little joking here rising to senior positions. And there dinners to celebrate their achievements. Haven for brainiac MBAs evaluate their bosses right back. The and there,” says one executive. should be plenty of opportunity for new annual exercise tells managers how they Safety training goes beyond teaching talent: Coleman has doubled in size Once part of 95-year-old Booz Allen can better inspire and challenge staff at the rules, emphasizing caring for every year since it was founded. #39 Conductor Inc. Hamilton, this consulting firm got out of the nonprofit, which runs 35 homes and colleagues. A “Great Boss” program fosters NYC EMPLOYEES 66 the business of advising the U.S. offers other services for people with skills like listening and developing talent. government and relaunched in August developmental disabilities. And the “Executive2Leader” program #38 HNTB New York Technology 2008 with a focus on commercial business That’s one reason the turnover rate unites teams of top managers from various and the public sector outside of the U.S. at the organization—where tasks range locations so they can collaborate; senior Engineering and Getting in on an exploding industry It’s not easy to create a meritocracy from providing music and art therapy for leaders vote on which ideas to implement. where everyone has an equal chance to individuals with autism to helping Not a bad way to cement a team. Architecture Employees at this thriving company, get to the top, but Booz strives hard to clients eat—is less than 20%, compared which specializes in search engine achieve that goal. It provides plenty of NYC EMPLOYEES U.S. EMPLOYEES with an industry average of about 50%. 115 3,791 optimization, have no need to worry training and a well-defined career path. “You can’t support people with #37 Coleman about downsizing: Their ranks have This year, 15% of employees earned developmental disabilities if you’ve got Engineering more than doubled since 2007. better titles. There’s a big payoff for unhappy staff,” says Chief Executive Research Group Inc. For those with a passion for figuring those who reach the management ranks: A micromanager-free zone Peter Smergut. NYC EMPLOYEES 125 how to attract millions of people to a Average annual salaries for salaried Once a month, an employee presents Web site—and the dedication to work employees run into the six figures. a stuffed animal and words of praise to a Financial research services The engineers at HNTB determined that into the evening at Conductor’s Chelsea If you’re a high-performing MBA colleague who’s done a particularly good Crown Point Bridge, which runs from digs—this is about as close to Candy with a few years of general consulting job. Staffers also reward each other with Cultivating its talent upstate New York across Lake Champlain Land as it gets. Founded in 2005, experience, Booz is looking for folks like company-paid $25 gift cards for to Vermont, was unsafe; now it’s working Conductor has a roster of A-list clients, you. The company is “hiring like crazy,” outstanding work. Coleman Research Group prides itself on on plans for a new structure. Closer to including Marriott, Jockey, Ricoh and according to one insider.

December 7, 2009 | Crain’s New York Business | 19 20091207-NEWS--0020-NAT-CCI-CN_-- 12/3/2009 7:19 PM Page 1

BEST PLACES REPORT SMALL BUSINESS

TAKIN’ CARE OF Little firms redefine culture of work BUSINESS: Epic Advertising co-workers are in a band together. cy new job at one of the city’s adver- deep pockets for top-line pay pack- cials,andtheir loy- By trading hierarchy tising giants. Four months later, he ages and benefits, and few have the alty by providing for honesty, a handful returned to ID and his original,low- prestige the giants can offer. frequent feedback er salary. on performance. rise to the top of list “Personal relationships are lost at Culture of camaraderie There are 11 a larger agency,” says Mr. Campbell. but a handful of companies with small companies “It bothered me how often I’d walk fewer than 150 employees find a way on Crain’s Best BY KIRA BINDRIM down the hall, smile at someone and to overcome these disadvantages: Places to Work say hello,and have them just walk by.” They’ve discovered how to turn list,and they’ve re- after seven years with ID Me- When it comes to creating a tiny into tight-knit, earning em- defined the relationship between even more pronounced in the cre- dia Inc., Scott Campbell headed for great place to work, small business- ployees’trust by keeping them in the management and employees. ative sector: Seven of the 11 small greener pastures in June 2006:a fan- es swim upstream. They lack the loop on company news and finan- The culture of camaraderie is companies on the Crain’s list are in advertising or technology. At ID Media, which has 90 New York City employees, Chief Execu- tive Lynn Fantom throws newbies a welcome breakfast on their first day. “It shows she wanted to meet us ™ and get our opinions,” says traffic manager Melissa Kuch. Ms.Kuch joined ID Media from Business & Talent. Aligned. NBC,where the closest she ever got to CEO Jeff Zucker was a compa- nywide Web conference. Cornering the market on fun informality reigns in the small firms’offices.At Internet marketing startup Appssavvy Inc. (No. 17 on the list),Chief Executive Chris Cun- ningham eschews PowerPoint pre- Your most valuable asset is your workforce. How sentations in favor of humorous you manage this asset spells the difference between YouTube videos. Not a stretch for a success and failure. man who once ate someone’s business card at a meeting. For three decades, we have assisted diverse, “Our executives treat us like they dynamic organizations in aligning talent strategy probably wish they were treated with business strategy in five key areas: Talent when they were our age,” says Julie Assessment, Leader Development, Organizational Nielsen, director of client relations. Effectiveness, Employee Engagement, and Workforce Replacing hierarchy with honesty has its benefits.Ninety-two per- Transition and Outplacement. cent of employees from small firms Are you ready for change? on Crain’s list said they trust what their supervisors tell them, com- Visit www.right.com/leadership for a copy pared with 88% at the large firms. of Ready, Get Set...Change! and learn what leaders “It’s important for people to feel need to know to navigate change in today’s complex like executives are being honest and business environment. truthful about what’s going on in their world,” says Jaime Chung, di- Borderless strategies. Total workforce solutions. rector of business operations at Epic Right Management. Advertising Inc., an online marketing company. The small companies excel at employee feedback, and a particularly interesting difference is that they are even better at offering con- structive criticism. Employees at all firms on Crain’s list said they were told when they had done good work, but 95% of small-firm employees said they were also informed when their work needed improvement, compared with 90% of large-firm employees. At Undertone Networks, an online ad shop, staffers go through weekly reviews with their immedi- ate supervisors,as well as semiannu- al reviews with executives. “You always come out knowing what you have done and what you

© 2009 Right Management. All Rights Reserved. could do,” says Mark Costa, a product manager. Finally, the small companies just might have the market cornered on fun. These are places where it’s OK to crack open a few beers on a Friday. 330 Madison Avenue, 14th Floor • New York, NY 10017 “These people were in my life ph: 212.373.7000 web: www.right.com when I got married, purchased a home and had a son,” says ID Me- dia’s Mr. Campbell. “They’re not just co-workers.”

20 | Crain’s New York Business | December 7, 2009 20091207-NEWS--0021-NAT-CCI-CN_-- 12/3/2009 7:21 PM Page 1

REPORT SMALL BUSINESS

WHAT’S WRONG New York Area’s Top SBA Lenders WITH THIS PICTURE? Ranked by dollar value of loans in fiscal 2009 SBA LENDING is typically countercyclical. In good times, banks make small business loans without Dollar value Dollar value Number Number worrying about a guarantee from the of loans of loans Percent of loans of loans Percent Rank Lender in fiscal ’09 in fiscal ’08 change in fiscal ’09 in fiscal ’08 change Small Business Administration. In recessions, the number of loans 1 Empire State Certified Development Corp. $93,239,685 $121,704,000 -23.4% 134 169 -20.7% usually goes up as banks seek the 2 BNB Bank $35,799,700 $25,774,000 +38.9% 75 122 -38.5% extra comfort of a government backer. This recession has been different. 3 TD Bank $19,786,300 $26,801,000 -26.2% 43 42 +2.4% The depth of the credit crisis means 4 Long Island Development Corp. $19,549,000 $36,294,000 -46.1% 27 51 -47.1% the number and the dollar value of loans made by the city’s most stalwart 5 NewBank $19,015,000 $22,645,000 -16.0% 49 54 -9.3% SBA lenders continue to fall. Consider 6 J.P. Morgan Chase $17,979,200 $71,018,700 -74.7% 195 1,439 -86.4% J.P. Morgan Chase. In FY ’07, the bank 7 New York Business Development Corp. $15,054,900 $9,388,718 +60.4% 48 25 +92.0% made $81 million worth of loans; in FY ’09, the amount fell to $18 million. 8 BankAsiana $11,150,000 $1,600,000 n/m 24 8 n/m 9 Nara Bank $9,685,000 $7,495,000 +29.2% 19 15 +26.7% Top Five Lenders 10 Manufacturers and Traders Trust Co. $8,016,600 $12,443,000 -35.6% 62 88 -29.5% By number of loans in FY ’09 11 PNC Bank $7,756,300 $3,431,000 +126.1% 12 7 +71.4% 12 Community National Bank $6,750,000 $7,940,000 -15.0% 12 33 -63.6% 13 Home Loan Investment Bank $5,890,600 $13,884,000 -57.6% 11 14 -21.4% 14 HSBC Bank USA $5,278,000 $3,521,700 +49.9% 75 53 +41.5% 15 Royal Asian Bank $5,190,000 $1,220,000 n/m 8 4 +100.0% 16 Wells Fargo Bank $4,958,500 $2,944,800 +68.4% 7 11 -36.4% 17 Indus American Bank $4,425,000 —— 5—— 18 Flushing Savings Bank $4,412,400 $10,285,500 -57.1% 20 64 -68.8% 19 Loan Source Inc. $3,765,000 $3,381,000 +11.4% 4 3 +33.3% 20 Mainstreet Lender 7(a) LLC $3,022,000 $1,600,000 +88.9% 3 1 n/m 21 Sovereign Bank $2,944,000 $3,207,500 -8.2% 44 48 -8.3% 22 Business Initiative Corp. of New York $2,919,000 $3,015,000 -3.2% 3 4 -25.0% 23 CIT Small Business Lending Corp. $2,894,000 $27,560,000 -89.5% 5 34 -85.3% 24 Unity Bank $2,765,000 $7,581,600 -63.5% 3 21 -85.7% Total Number of Loans 25 Wachovia SBA Lending Inc. $2,619,000 $11,419,500 -77.1% 3 14 -78.6% For all area lenders in FY ’09 26 UPS Capital Business Credit $2,525,000 $2,616,000 -3.5% 2 4 -50.0% 27 Innovative Bank $2,275,000 $6,870,000 -66.9% 80 259 -69.1% 28 Shinhan Bank America $2,140,000 $5,394,500 -60.3% 11 18 -38.9% 29 Newtek Small Business Finance Inc. $2,000,000 $8,724,200 -77.1% 1 13 -92.3% 30 United Midwest Savings Bank $2,000,000 —— 1—— 31 Across Nations Pioneers Inc. $1,873,000 —— 1—— 32 Citibank $1,833,500 $9,065,000 -79.8% 6 123 -95.1% 33 Grow America Fund Inc. $1,688,000 —— 2—— 34 U.S. Bank $1,604,000 $1,955,000 -18.0% 2 1 +100.0% 35 Cathay Bank $1,450,000 $120,000 n/m 3 1 n/m 36 KeyBank $1,410,700 $1,181,800 +19.4% 22 19 +15.8% Total Dollar Volume For all area lenders in FY ’09, in millions 37 Banco Popular $1,343,000 $15,372,000 -91.3% 7 277 -97.5% 38 The Park Avenue Bank $1,250,000 $100,000 n/m 2 1 +100.0% 39 Bethex Federal Credit Union $1,245,900 $453,740 n/m 9 5 +80.0% 40 Asia Bank $1,200,000 $590,000 +103.4% 1 2 -50.0% 41 Habib American Bank $1,200,000 —— 3—— 42 Live Oak Banking Co. $1,200,000 $4,020,000 -70.1% 1 3 -66.7% 43 Community South Bank $1,139,000 $280,000 n/m 1 2 -50.0% 44 Community Building Fund LLC $1,035,000 $2,015,000 -48.6% 5 11 -54.5% 45 Webster Bank $965,000 $500,000 +93.0% 2 1 +100.0%

The U.S. Small Business Administration’s New York district includes New York City and Dutchess, Nassau, Orange, Putnam, Rockland, Suffolk, Sullivan, Ulster and Westchester counties. Rankings are for the fiscal year ended Sept. 30, 2009. Figures include both banks’ 7(a) loans—loans to businesses unable to secure financing on reasonable terms through normal lending channels—and certified development companies’ 504 loans—long-term, fixed-rate financing for major fixed assets. In cases of tied figures in the dollar value of loans, lenders are listed alphabetically. n/m Not meaningful.

December 7, 2009 | Crain’s New York Business | 21 nb49p22-23cl.qxp 12/4/09 3:39 PM Page 22

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Articles of Org. filed NY Sec. of State NY Sec. of State designated as agent bus. addr.: 122 Greenwich Ave., NY, (SSNY) 11/6/09. Office in NY Co. of LLC upon whom process against it NY 10011. Sec. of State designated SSNY desig. agent of LLC upon may be served and shall mail process as agent of LLC upon whom process whom process may be served. to: c/o CT Corporation System, 111 against it may be served and shall SSNY shall mail copy of process to 8th Ave., NY, NY 10011, registered mail process to: David J. Borkon, c/o LePatner & Assoc., LLP, 600 agent upon whom process may be Esq., c/o Vedder Price P.C., 1633 Lexington Ave., 21st Fl, NY, NY EXECUTIVE RECRUITER served. DE address of LLC: 1209 Broadway, 47th Fl., NY, NY 10019. 10022. Purpose: Any lawful purpose. Orange St., Wilmington, DE 19801. Purpose: any lawful activity. Arts. of Org. filed with DE Sec. of EDUPROFILE LLC Articles of Org. State, 401 Federal St., Dover, DE Notice of Formation of Frye Retail, POSITION AVAILABLE filed NY Sec. of State (SSNY) 8/17/09 19901. Purpose: any lawful activity. LLC. Arts. of Org. filed with NY Dept. as EDUPROFILE LLC. Office in NY The New York City Educational Construction Fund, a public benefit corporation, seeks an of State on 11/12/09. Office location: Co. SSNY desig. agent of LLC upon Operations Associate to perform a variety of financial, accounting and administrative tasks to sup- NY County. Sec. of State designated NOTICE OF FORMATION of DFUZE whom process may be served. SSNY port the daily operations of the Fund and advance its mission to finance and construct public as agent of LLC upon whom process Entertainment Media, LLC. Articles shall mail copy of process to 170 West school facilities. The Operations associate will perform accounting functions including posting of against it may be served and shall of Organization filed with the End Avenue, Apt. 15H, NY, NY. 10023. transactions to the Fund’s accounting system. Other tasks include preparation of invoices, mainte- mail process to: c/o CT Corporation nance of insurance claim logs, reconciliation of banking and investment accounts, and management Secretary of State of NY (SSNY) on Purpose: Education consulting. of daily office operations. The Operations Associate reports to the Director of Finance. 11/04/09. Office location: NY County. System, 111 8th Ave., NY, NY 10011. SSNY has been designated as agent Purpose: any lawful activity. The successful candidate will have proven financial accounting skills at the bookkeeper level, strong Commercial Online Services LLC filed communication skills (oral and written), knowledge of government accounting software and famil- upon whom process against it may iarity and skill in the Microsoft Office Suite software. be served. The Post Office address to Notice of Formation of ORGANIC articles of organization on 10/26/2009 which the SSNY shall mail a copy of SPREAD MEDIA, LLC. Arts. of Org. in New York County, Secretary of Qualifications: State has been designated as agent A baccalaureate degree from an accredited college in accounting, business, public administration, any process against the LLC served filed with Secy. of State of NY economics or finance or a closely related field and two years of satisfactory full-time professional upon him is C/O the LLC, 222 (SSNY) on 10/16/09. Office location: for the LLC and process may be experience in one or a combination of the following areas: working with in a large public or private Riverside Drive, N.Y., N.Y., 10025. NY County. SSNY designated as served to 84 Old Drift Way Wilton, CT concern in business, accounting, economic or financial administration, or in a related area. Purpose of LLC: to engage in any agent of LLC upon whom process 06897. Purpose: any lawful activity Salary: Negotiable and commensurate with education and experience. lawful act or activity. Street address of against it may be served. SSNY shall Benefits: Paid vacation, holiday and sick leave. Excellent medical and dental benefits paid by the Principal Business location is: 222 mail process to Corporation Service Notice of Formation of CANTO PRO- Fund. New York State retirement (pension) plan. Riverside Drive, N.Y., N.Y., 10025. Co., 80 State St., Albany, NY 12207- DUCTIONS, LLC. Arts. of Org. filed PLEASE INCLUDE A RESUME WITH SALARY HISTORY WITH A COVER LETTER EXPRESSING 2543. Purpose: Any lawful activity. with Secy. of State of NY (SSNY) on INTEREST IN THE POSITION AND SEND VIA U.S. MAIL OR FACSIMILE TO: Notice of Formation of Mill 11/09/09. Office location: NY County. ASSOCIATE, OPERATIONS Condominiums LLC, Art. of Org. filed Notice is hereby given that a license Princ. office of LLC: 304 Hudson St., New York City Educational Construction Fund Sec’y of State (SSNY) 11/17/09. 6th Fl. North, NY, NY 10013. SSNY 30-30 Thomson Avenue, 4th Floor (#TBA) for Wine & Beer has been Office location: NY County. SSNY des- applied for by 632 Below LLC, at designated as agent of LLC upon Long Island City, NY 11101 whom process against it may be (718) 752-5222 FACSIMILE ignated as agent of LLC upon whom retail, in a Restaurant under the ABC process against it may be served. served. SSNY shall mail process to The Fund will contact only applicants it qualifies for an interview. Law at 632 Hudson St., NY, NY SSNY shall mail copy of process to 10014 for on-premises consumption. the LLC at the addr. of its princ. c/o Nat. Reg. Agents, 875 Ave of the office. Purpose: Any lawful activity. Americas, NY, NY 10001, the Reg. Name: 37 EAST 28th STREET LLC Agt. upon whom proc. may be Notice of Formation of WEST 135th served. Purpose: any lawful activities. Art. Of Org. filed Sec. Of State of NY REAL ESTATE 09/30/09. Off. Loc.: New York Co. APARTMENTS, LLC. Arts. of Org. filed Masum Ahmed designated as agent with Secy. of State of N.Y. (SSNY) on BROOKLYN OFFICE Notice of Formation of PROP ME UP upon whom process against it may 10/29/09. Office location: NY County. LLC. Arts. of Org. filed with Secy. of be served. SSNY to mail copy of SSNY designated as agent of LLC COMMERCIAL SPACE State of N.Y. (SSNY) on 10/8/09. process to THE LLC, C/O William A. upon whom process against it may Office location: New York County. De Lorenzo, 420 Lexington Ave., Ste be served. SSNY shall mail process 7th Ave. & 64th St.-BrooklynBrooklyn SSNY designated as agent of LLC 303, New York, NY 10170. Purpose: to: c/o Jonathan Rose Companies, Subway & Bus on the block upon whom process against it may Any lawful act or activity. 551 Fifth Ave., 23rd Fl., New York, NY Parkingg available OFFICE SUITES FOR RENT be served. SSNY shall mail process 10176. Purpose: any lawful activity. to: The LLC, 601 West 26th St., 50 West 17th Street, 80-100 sf, $600-$1200. Notice of formation of PIRA DESIGN, Room 1233, New York, NY 10001. Work stations also available. LLC a limited liability company. Notice of Formation of 26 E. 63rd Purpose: any lawful activity. Great loft building, newly renovated space. Articles of Organization filed with the STREET LLC. Arts. of Org. filed with Lynn Whiting at 212-896-8624, Secretary of State of NY SSNY on Secy. of State of N.Y. (SSNY) on April [email protected] BITE BANDS, LLC Articles of Org. 10/07/09. Office located in NY 15, 2008. Office location: New York 17,500 SF Office Avail Jan 2010 filed NY Sec. of State (SSNY) 8/6/09. County. SSNY has been designated County. SSNY designated as agent • Move-in Condition • 24/7 Access PARK/54TH-TOP LOCATION! Office in NY Co. SSNY desig. agent for service of process. SSNY shall of LLC upon whom process against it Call Andy Kohen Large, corner partner size office, of LLC upon whom process may be mail copy of any process served may be served. SSNY shall mail Ph:718-258-2782 Cell:718-974-6044 2 walls of windows and adj. work- served. SSNY shall mail copy of against the LLC to PIRA DESIGN, process to: The LLC, c/o Vittorio station. Also available, furnished “mini- process to 110 Wall St., 11th Flr., NY, LLC 2 Washington Sq Village, Ste Assaf, 26 East 63rd St., Apt. 12B, suite” with private window office and NY 10005-3817, which is also the #7J, NY, NY 10012. Purpose: any New York, NY 10021. Purpose: any adjoining room with 2 workstations and principal business location. Purpose: lawful purpose. lawful activity. BUSINESS file space. Both within plush offices of Any lawful purpose. quality law firm. All amenities available Name of For. LP: BOWH MANAGE- Name of Foreign LLC: Mrs. John L. FOR SALE inc. video conference; internet; phone Notice of Formation of limited liability MENT LP. Appl. for Auth. filed with Strong, LLC. App. for Auth. filed NY and vm system; conf. room; kitchen. company (LLC). Name: VINOS LIBRES Sec. of State of NY: 7/20/09. Jurisd. Dept. of State: 10/16/09. Fictitious PRACTICES FOR SALE: Below market. Must see. WINE MERCHANTS, LLC. Arts. of and date of org.: DE 7/10/09. NY name in NY State: Mrs. John L. Strong 4 Active PIP Clinics (Automobile 888.748.8748 ext. 109 Org. Filed with Dept. of State of NY State office loc.: New York Cty. Sec. I, LLC. Jurisd. and date of org.: NV Accident Therapy Clinics) for sale in on November 19, 2009. Office loc.: of State designated as agent upon 10/2/09. County off. loc.: NY Cty. Sec. Miami-Dade County, Florida. New York County. Secretary of State whom process against it may be of State designated as agent of foreign In practice for over 30 years. of New York (SSNY) is designated as served. Sec. of State shall mail copy LLC upon whom process against it Gross Annual Income is $3 million Advertise on agent of LLC upon whom process of process to: 1172 Park Avenue, NY, may be served. The Sec. of State dollars. Only qualified buyers please. against it may be served. The princi- NY 10128. Addr. of LP in DE is: shall mail copy of process to: The Call Juan Gonzalez at 305-665-5902. ple business and address SSNY shall National Corporate Research, Ltd., LLC, 3737 Willowick Rd., Houston, TX www.crainsnewyork.com mail copy of process is to M.S. 615 S. DuPont Hwy., Dover, DE 77019. Addr. of foreign LLC in NV is: Rapaport, Esp., 6th floor, 18 East 19901. Name/addr. of GP avail. from 3737 Willowick Rd., Houston, TX Call John Gallagher 48th St., New York, New York 10017. Sec. of State. Authorized office in DE 77019. Auth. officer in NV where Cert. VISIT OUR WEBSITE Management of LLC shall be by one where Cert. of LP is filed is: DE Sec. of Form. filed: NV Secy. of State, 202 CRAINSNEWYORK.COM @ 212-210-0189 or more members. Purpose: To of State, Duke & York St., Dover, DE North Carson St., Carson City, NV engage in any lawful act or activities. 19901. Purpose: any lawful activity. 89701. Purpose: any lawful activity.

22 | Crain’s New York Business | December 7, 2009 nb49p22-23cl.qxp 12/4/09 1:13 PM Page 23

PUBLIC & LEGAL NOTICES

Notice of Qualification of IQUE NOTICE OF FORMATION of LL BRIT- Notice of Qualification of THE ABER- Notice of Qualification of AKPD NOTICE OF QUALIFICATION OF Information CC. Authority filed with TON PLLC. Article of Organization NATHY GROUP II, LLC. Authority Message and Media LLC. Authority CRYSTAL, SHAPIRO & DWORKIN NY Dept. of State on 11/6/09. Office filed with the Secretary of State of NY filed with Secy. of State of NY filed with Secy. of State of NY LLP Application for Authority filed location: NY County. LLC formed in (SSNY) on 09/17/09. Office location: (SSNY) on 11/03/09. Office location: (SSNY) on 10/14/09. Office location: with the Secretary of State of New South Africa (SA) on 9/11/97. NY NY County. SSNY has been designat- NY County. LLC formed in Delaware NY County. LLC formed in Illinois (IL) York (SSNY) on 10/20/2009. N.Y. Sec. of State designated as agent of ed as agent upon whom process (DE) on 10/27/09. Princ. office of on 3/24/09. SSNY designated as Office Location: NEW YORK County. LLC upon whom process against it against it may be served. The Post LLC: c/o The Abernathy Group, LLC, agent of LLC upon whom process LLP formed in New Jersey on may be served and shall mail Office address to which the SSNY 17 State St., 16th Fl., NY, NY 10004. against it may be served. SSNY 12/01/2006. SSNY has been desig- process to: 15 W. 26th St., 7th Fl., shall mail a copy of any process SSNY designated as agent of LLC shall mail process to: c/o National nated as agent of LLP upon process NY, NY 10010. SA addr. of LLC: PO against the LLC served upon him is upon whom process against it may Registered Agents, Inc., 875 Avenue against it may be served. The P.O. Box 201512, Durban North 4016 SA. C/O the PLLC 640 WEST END AVE be served. SSNY shall mail process of the Americas, Ste. 501, NY, NY address to which the SSNY shall mail Arts. of Org. filed with Registrar, 8A, NY, NY 10024. Date of Dissolution: to the LLC, Attn: Steven Abernathy at 10001. Address to be maintained in a copy of any process against the Companies and Intellectual Property N/A. Purpose of PLLC: to engage in the princ. office of the LLC. DE addr. IL: 730 N. Franklin St., Ste. 404, LLP served upon him/her is C/O the Registration Office, The Dti campus any lawful act or activity. Street address of LLC: c/o Corporation Service Co., Chicago, IL 60654, also the address LLP: 101 Barkalow Ave., Freehold, (Block F - Entfutfukwenf), 77 of Principal Business location is: 640 2711 Centerville Rd., Ste. 400, of the principal office. Arts of Org. NJ 07728. The Principal Business Meintjles St., Sunnyside, Pretoria, WEST END AVE 8A, NY, NY 10024. Wilmington, DE 19808. Arts. of Org. filed with IL Secy. Of State, Room Address of the LLP is: 101 Barkalow SA. Purpose: all lawful purposes. filed with Jeffrey W. Bullock, DE Secy. 531 Howlett Bldg., Springfield, IL Ave., Freehold, NJ 07728. Purpose of State, Townsend Bldg., 401 62756. Purpose: any lawful activities. of LLP: Any lawful act or activity. Notice of Qualification of LionHedge Federal St., Ste. 3, Dover, DE 19901. Name of Foreign LLC: HEDGEFORUM BH Fund, LLC, App. for Auth. filed Purpose: Any lawful activity. SCF, LLC. App. for Auth. filed NY Sec’y of State (SSNY) 8/26/09. Office LUMINARY LLC, a domestic Limited NOTICE OF FORMATION OF Dept. of State: 8/14/09. Jurisd. and location: NY County. LLC org. in DE Liability Company (LLC) filed with the Professor LLC. Arts. of Org. filed date of org.: DE 8/4/09. County off. 8/25/09. SSNY designated as agent Notice of Qualification of MINA II GP, Sec of State of NY on 9/11/09. NY with Secy. of State of N.Y. (SSNY) loc.: NY Cty. Sec. of State designated of LLC upon whom process against it LP. Authority filed with NY Dept. of Office location: New York County. on May 6, 2009. Office location: as agent of foreign LLC upon whom may be served. SSNY shall mail copy State on 10/29/09. Office location: NY SSNY is designated as agent upon New York County. SSNY designated process against it may be served. of process to 405 Park Ave., Ste. 803, County. Princ. bus. addr.: 200 Liberty whom process against the LLC may as agent of LLC upon whom process The Sec. of State shall mail copy of NY, NY 10022. DE office addr.: CSC, St., 25th Fl., NY, NY 10281. LP be served. SSNY shall mail a copy against it may be served. SSNY process to: c/o Citigroup Alternative 2711 Centerville Rd., Wilmington, DE formed in DE on 10/22/09. NY Sec. of of any process against the LLC shall mail process to: 34 W. 13th Investments LLC, 55 E. 59th St., 10th 19808. Cert. of Form. on file: SSDE, State designated as agent of LP served upon him/her to Stempel Street #4N New York, NY 10011. Fl., NY, NY 10022. Addr. of foreign Townsend Bldg., Dover, DE 19901. upon whom process against it may Bennett Claman & Hochberg, P.C., Purpose: any lawful activity. LLC in DE is: c/o National Corporate Purpose: any lawful activities. be served and shall mail process to: 675 Third Ave., 31st Fl., NY, NY 1287556 w.o. Research, Ltd., 615 S. DuPont Hwy., c/o CT Corporation System, 111 8th 10017. General Purposes Ave., NY, NY 10011, regd. agt. upon Dover, DE 19901. Auth. officer in DE Notice of Formation of Christina NOTICE OF FORMATION of Bruzina where Cert. of Form. filed: DE Sec. of whom process may be served. DE Notice of Formation of NEW AMS- PLLC. Articles of Organization filed Tontini Design LLC, Art. of Org. filed addr. of LP: 1209 Orange St., TERDAM INTERNATIONAL TRAD- State, Townsend Bldg., Dover, DE Sec’y of State (SSNY) 8/21/09. Office with the Sec. of State of NY (SSNY) 19901. Purpose: any lawful activity. Wilmington, DE 19801. Name/addr. of ING LLC. Arts. of Org. filed with Secy. on 09/24/09. Office location: NY location: NY County. SSNY designat- genl. ptr. available from NY Sec. of of State of NY (SSNY) on 10/28/09. ed as agent of LLC upon whom County. Street address of Principal State. Cert. of LP filed with DE Sec. Office location: NY County. Princ. Business location is: 110 Wall St., NOTICE OF FORMATION OF process against it may be served. of State, 401 Federal St., Dover, DE office of LLC: NYMEX Bldg., One 11th Flr., N.Y., N.Y., 10005-3817. Livingstone Partners LLC. Arts. of SSNY shall mail copy of process to 19901. Purpose: any lawful activity. North End Ave., Ste. 1235, NY, NY SSNY has been designated as agent Org. filed with Secy. of State of N.Y. 747 Third Ave., 32nd Fl., NY, NY 10282. SSNY designated as agent of upon whom process against it may (SSNY) on 9/29/09. Office location: 10017. Purpose: any lawful activities. LLC upon whom process against it be served. SSNY shall mail a copy of New York County. SSNY designated Notice of Qualification of Lumentus may be served. SSNY shall mail any process against the PLLC at C/O as agent of LLC upon whom process LLC. Authority filed with Secy. of process to the LLC at the addr. of its Bruzina PLLC, 130 Water Street 8D against it may be served. SSNY shall NOTICE OF FORMATION OF KREZ State of NY (SSNY) on 10/15/09. princ. office. Purpose: Financial. N.Y., N.Y., 10005. Date for mail process to: 32 West 128th Street & FLORES, LLP. Articles of Office location: NY County. LLC Dissolution: None. Purpose of PLLC: Apt. 4 New York, NY 10027. Purpose: Organization filed with the Secretary formed in Delaware (DE) on 9/29/09. to engage in the practice of law and any lawful activity. of State of NY (SSNY) on 9/28/2009. SSNY designated as agent of LLC Notice of formation of Chumley’s 86 Office location: New York County. upon whom process against it may LLC, (LLC) a limited liability company. any lawful act or activity. SSNY has been designated as agent be served. SSNY shall mail process Articles of Organization filed with the AMERICANA TRAVEL SERVICES upon whom process against it may to: Davis & Gilbert LLP, 1740 New York State Secretary of State Notice of Formation of Joel de Wayne, LLC Articles of Org. filed NY Sec. of be served. The Post Office address to Broadway, NY, NY 10019. Address to (SSNY) on 8/31/2009. Office location LLC. Arts. of Org. filed with Secy. of State (SSNY) 10/9/09. Office in NY which the SSNY shall mail a copy of be maintained in DE: 160 Greentree in New York County. SSNY has been State of NY (SSNY) on 10/30/09. Co. SSNY desig. agent of LLC upon any process against the LLP served Dr., Ste. 101. Dover, DE 19904. Arts designated for service of process. Office location: NY County. SSNY des- whom process may be served. SSNY upon him is C/O the LLP 225 of Org. filed with DE Secy. Of State, SSNY shall mail a copy of any ignated as agent of LLC upon whom shall mail copy of process to 730 5th Broadway, New York, NY 10007. The 401 Federal St., Ste. 4, Dover, DE process served against the LLC to process against it may be served. Ave., Ste 600, NY, NY 10019, which purpose of the LLP is to engage in 19901. Purpose: any lawful activities. the LLC c/o Poppe & Bhouraskar, SSNY shall mail process to Connell is also the principal business location. the practice of law. Street address of 350 Fifth Ave, #7315, NY, NY 10118. Foley LLP, c/o Angela A. Iuso, Esq., Purpose: To engage in travel and tour Principal Business location is 225 Notice of Qualification of NEW Purpose: any lawful purpose 85 Livingston Ave., Roseland, NJ services and any lawful purpose. Broadway, New York, NY 10007. MOUNTAIN GUARDIAN DEBT 07068. Purpose: Any lawful activity. FUNDING, L.L.C. Authority filed with Notice of Qualification of G-TRADE Notice of Qualification of ASN Key Notice of Qualification of ML Altis Secy. of State of NY (SSNY) on SERVICES LLC. Authority filed with Notice of Qualification of Covepoint West LLC. Authority filed with NY FuturesAccess LLC. Authority filed 10/13/09. Office location: NY Secy. of State of NY (SSNY) on Commodity Currency Fund, L.P. Dept. of State on 11/3/09. Office loca- with NY Dept. of State on 10/7/09. County. LLC formed in Delaware 11/04/09. Office location: NY County. Authority filed with NY Dept. of State tion: NY County. Princ. bus. addr.: Office location: NY County. Princ. bus. (DE) on 10/09/09. Princ. office of LLC formed in Delaware (DE) on on 8/18/09. Office location: NY 9200 E. Panorama Cir., Ste. 400, addr.: 4 World Financial Ctr., 250 LLC: 787 7th Ave., 49th Fl., NY, NY 11/30/05. Princ. office of LLC: 1633 County. LP formed in DE on 8/14/09. Englewood, CO 80112. LLC formed in Vesey St., 6th Fl., NY, NY 10080. LLC 10019. SSNY designated as agent Broadway, 48th Fl., NY, NY 10019. NY Sec. of State designated as agent DE on 8/30/06. NY Sec. of State des- formed in DE on 3/8/07. NY Sec. of of LLC upon whom process against SSNY designated as agent of LLC of LP upon whom process against it ignated as agent of LLC upon whom State designated as agent of LLC it may be served. SSNY shall mail upon whom process against it may may be served and shall mail process process against it may be served and upon whom process against it may be process to the LLC at the addr. of be served. SSNY shall mail process to the principal business addr: c/o shall mail process to: c/o CT served and shall mail process to: CT its princ. office. DE addr. of LLC: to c/o Corporation Service Co. (CSC), Melissa Ko, Covepoint Capital GP II Corporation System, 111 8th Ave., Corporation System, 111 8th Ave., RL&F Service Corp., One Rodney 80 State St., Albany, NY 12207-2543. LLC, 152 W. 57th St., 41st Fl., NY, NY, NY 10011, regd. agt. upon whom NY, NY 10011, regd. agt. upon whom Sq., 10th Fl., Tenth and King Sts., DE addr. of LLC: c/o CSC, 2711 NY 10019. DE addr. of LP: 1209 process may be served. DE addr. of process may be served. DE addr. of Wilmington, New Castle Cnty., DE Centerville Rd., Ste. 400, Wilmington, Orange St., Wilmington, DE 19801. LLC: c/o The Corporation Trust Co., LLC: The Corporation Trust Co., 1209 19801. Arts. of Org. filed with Jeffrey DE 19801. Arts. of Org. filed with Name/addr. of genl. ptr. available from 1209 Orange St., Wilmington, DE Orange St., Wilmington, DE 19801. W. Bullock, Secy. of State, Div. of Secy. of State, DE Div. of Corps., NY Sec. of State. Cert. of LP filed 19801. Arts. of Org. filed with DE Sec. Arts. of Org. filed with DE Sec. of Corps., John G. Townsend Bldg., John G. Townsend Bldg., 401 Federal with DE Sec. of State, Federal & of State, 401 Federal St., Dover, DE State, P.O. Box 898, Dover, DE 401 Federal St., Ste. 4, Dover, DE St., Ste. 4, Dover, DE 19903. Duke of York Sts., Dover, DE 19901. 19901. Purpose: any lawful activity. 19903. Purpose: any lawful activity. 19901. Purpose: Any lawful activity. Purpose: Any lawful activity. Purpose: any lawful activity.

December 7, 2009 | Crain’s New York Business | 23 20091207-NEWS--0024-NAT-CCI-CN_-- 12/4/2009 2:16 PM Page 1

FOR THE RECORD

information that follow this format to 842,483 shares of common stock at G Jarden Corp. (JAH) [email protected] with $82.54 on Nov. 23, in a transaction Martin E. Franklin, chairman and chief ABOUT THIS SECTION “Real estate transaction” on the subject line. worth $69,535,176. He now indirectly executive at the consumer products FOR THE RECORD is a weekly listing of information from the public record that holds 443,034 shares. company, exercised options on 372,160 OFFICE shares at $8.60 between Nov. 23 and can help businesspeople find opportunities in the New York area by providing G Law firm Paul Weiss Rifkind Wharton Simon A. Borrows, co-chief executive, Nov. 24, in a transaction worth leads for clients, potential new business and competitors. & Garrison has renewed its lease and will sold 267,056 shares of common stock at $3,200,576. Between Nov. 19 and Nov. To ask questions or get more information on this section, contact Denise take an additional two floors at 1285 Sixth $82.54 on Nov. 23, in a transaction 24, he sold 250,000 shares of common Southwood at [email protected]. Ave., owned by J.P.Morgan Securities. worth $22,041,734. He now directly stock at prices ranging from $27.58 to The building contains 1.5 million square holds 680,130 shares. $28.52, in a transaction worth feet, and the law firm will occupy 550,000 $7,062,296. He now directly holds square feet. Barry Gosin of Newmark Scott L. Bok, co-chief executive, sold 2,035,860 shares. Knight Frank repped the tenant. Deatils 265,514 shares of common stock at BANKRUPTCIES Questions regarding this solicitation on the broker for the owner and the $82.54 on Nov. 23, in a transaction James E. Lillie, president and chief should be directed to Dorothy Barnes at asking rent were not available. worth $21,914,464. He now directly and operating officer, sold 40,000 shares of The following listings are selected from the (718) 579-5021. indirectly holds 676,204 shares. common stock at prices ranging from most recent available filings by companies G Mother New York, a creative brand $27.58 to $28.52 between Nov. 19 and seeking bankruptcy protection in the G New York City Housing Authority agency, signed a 10-year, 36,246-square- Robert H. Niehaus, chairman of Nov. 24, in a transaction worth Southern and Eastern Districts of New Seeks competitive sealed bids by 4 p.m. foot lease for the entire three floors of Greenhill Capital Partners, sold 197,612 $1,130,434. He now directly holds York. Information was obtained from U.S. on Dec. 11 for laundry services. 595 11th Ave., owned by Erez Itzhaki. shares of common stock at $82.54 on 225,047 shares. Bankruptcy Court records available on Solicitation documents can be obtained The Alex Chudnoff and Haley Klein of Nov. 23, in a transaction worth Public Access to Court Electronic Records. on the sixth floor of 90 Church St. For Cushman & Wakefield acted on behalf $16,310,104. He now directly and G Estée Lauder Cos. (EL) Listings are in alphabetical order. additional information, contact of the tenant, and Mark Lauzon and indirectly holds 139,835 shares. Harvey Gedeon, executive vice president Cassandra Deas at (212) 306-6519 or Josh Goldman, also of Cushman & of global research, development and G Classic Home/Office Furniture Inc. [email protected]. Wakefield, repped the owner. The G Goldman Sachs Group Inc. (GS) product innovation at the health and 332 Tarrytown Road, White Plains asking rent was not available. John Michael Evans, vice chairman at beauty aids company, exercised options Filed for Chapter 7 bankruptcy OTHER SERVICES the securities company, sold 140,000 on 100,000 shares of common stock at protection on Nov. 25. The filing cites G City University of New York G Deer Stags Inc., a footwear company, shares of common stock at prices prices ranging from $32.15 to $43.69 on estimated liabilities of $500,001 to Requests qualifications by 12 p.m. on signed a 15-year, 16,500-square-foot ranging from $164.80 to $173.47 Nov. 24, in a transaction worth $1 million and assets of $100,001 to Jan. 6 for an architectural or engineering lease for the third floor of 902 Broadway,a between Nov. 23 and Nov. 27, in a $3,924,438. On the same day, he sold $500,000. Among the creditors with the consultant to design the York College 20-story, 330,000-square-foot building. transaction worth $23,738,244. He now 100,000 shares at prices ranging from largest unsecured claims are Anna Academic Village and Conference Perry Mesmer, Marty Meyer and Seth directly holds 644,953 shares. $48.02 to $48.06, in a transaction worth Johnson, owed $14,659.00; and Ken Center. Questions about this bid Hecht of FirstService Williams acted on $4,804,215. He now directly holds Koenig, owed $8,069.00. should be directed to Michael behalf of the landlord, 902 Associates, Michael S. Sherwood, vice chairman 12,222 shares. Feeney at (212) 541-0465 or while Paul Ippolito of Newmark Knight and co-chief executive of Goldman G Taurus Associates Inc. [email protected]. Frank repped the tenant.The asking rent Sachs International, exercised options G IAC/InterActiveCorp (IACI) 205-14 Linden Blvd., St. Albans, was $38 per square foot. on 49,735 shares of common stock at Liberty Media Corp. sold 182,500 Queens G Department of Citywide Administrative $91.61 between Nov. 23 and Nov. 24, in shares of common stock at $19.88 Filed for Chapter 7 bankruptcy protec- Services G Creative Realities Inc., a technology a transaction worth $4,556,224. During per share on Nov. 24, in a transaction tion on Nov. 24. The filing cites estimat- Requests competitive sealed bids by 10 company, has subleased 8,500 square the same period, he sold 49,735 shares at that was worth $3,628,100. The ed liabilities of $100,001 to $500,000 a.m. on Jan. 7 for the printing, mail feet on the entire 14th floor at 1140 prices ranging from $171.54 to $173.06, company now indirectly holds and assets of $0 to $50,000. Among the preparation and delivery of The City Broadway from Perkins Eastman in a transaction worth $8,569,392. He 13,202,900 shares. creditors with the largest secured claims Record newspaper. Bid packages can be Architects. The 16-story building, now directly holds 242,991 shares. is Driscoll Foods, owed $10,000. obtained for a fee of $35 at 1 Centre St., owned by Abner Properties Co., G Annaly Capital Management Inc. (NLY) room 1860. For more information, contains 128,000 square feet. Ted G NBTY Inc. (NTY) Michael A.J. Farrell, chairman of the contact Erkan Solak at (212) 669-3530 Rotante, Michael Joseph and Michael Scott Rudolph, chairman, chief board, chief executive and president of GOVERNMENT CONTRACT or [email protected]. Leary of FirstService Williams repped executive and chairman of the strategic the real estate investment trust, exercised OPPORTUNITIES Perkins Eastman; Hal Stein, Robert planning committee at the options on 165,000 shares of common G Department of Environmental Protection Sattler and Wilson Travis of Newmark pharmaceuticals company, exercised stock at prices ranging from $7.94 to Hundreds of potential government Seeks proposals by 4 p.m. on Jan. 25 for Knight Frank repped Creative Realities. options on 1,000,000 shares of common $15.61 on Nov. 24, in a transaction contracts are available in our area.The environmental health and safety The asking rent was $30 per square foot. stock at $5.88 on Nov. 23, in a worth $1,965,450. following are selected contract opportunities management consulting. A preproposal transaction worth $5,875,000. On the recently announced by New York City conference will be held on Dec. 15 at G Rose & Rose, a law firm, has signed a same day, he sold 500,000 shares at G Abovenet Inc. (ABVT) agencies.To learn how to sell goods and 11 a.m. in the third-floor low-rise 10-year, 6,300-square-foot lease at 291 prices ranging from $42.00 to $42.99 in Robert J. Sokota, chief administrative services to city government, visit conference room at 96-05 Horace Broadway, a 150,000-square-foot building a transaction worth $21,210,552. He officer, senior vice president, secretary www.nyc.gov/selltonyc. For a searchable Harding Expressway, Corona, Queens. owned by Sutton Management. Abe now directly holds 4,814,590 shares. and general counsel of the network database of current procurement notices, For additional information, contact Shay Sutton of GlenMark Realty repped the services provider, sold 29,900 shares of visit www.nyc.gov/cityrecord. McAtamney at (718) 595-4618 or landlord. Mr. Sutton and GlenMark’s Harvey Kamil, president and chief common stock at prices ranging from [email protected]. David Gomez repped the tenant.The financial officer, exercised options on $53.75 to $56.17 between Nov. 17 and CONSTRUCTION SERVICES asking rent was $35 per square foot. 250,000 shares of common stock at Nov. 23, in a transaction worth G Department of Parks and Recreation G Department of Homeless Services $5.88 on Nov. 23, in a transaction worth $1,627,380. He now directly holds Seeks competitive sealed bids by 10:30 Requests competitive sealed bids by 11 G Garunda Thai, a karate school, signed $1,468,750. 108,682 shares. a.m. on Dec. 18 for the reconstruction of a.m. on Jan. 28 for the maintenance and a 10-year, 5,000-square-foot lease at 291 the natural grass ball field located on repair of heating systems citywide. A Broadway. David Gomez of GlenMark Linden Boulevard between 134th and mandatory prebid conference is Realty repped the owner and the tenant. Lincoln streets in the Frederick B. Judge scheduled for 10 a.m. on Dec. 15 at The asking rent was $25 per square foot. DEALS ROUNDUP Memorial Playground in Queens. Direct 10107 Farragut Road, Brooklyn. For any questions regarding this bid to Juan information, contact Josiane Destra at RETAIL/SHOWROOM G TRANSACTION SIZE Alban at (718) 760-6771 or (212) 361-8498 or [email protected]. Almost Famous/Younique Brands has COMPANY (IN MILLIONS) BUYERS/INVESTORS TRANSACTION TYPE [email protected]. signed a 6,500-square-foot, seven-year G Department of Parks and Recreation lease at 525 Seventh Ave. The 23-story Cazenove Group Ltd. $1,680.8 J.P. Morgan Chase & Co. (Manhattan) SB M&A G School Construction Authority Requests competitive sealed proposals building contains 520,000 square feet. Sims Metal Management Ltd. $365.6 Not disclosed GCI Requests competitive sealed bids by 11 by 3 p.m. on Jan. 8 for the development, Marc Schoen of Savitt Partners and (Manhattan) a.m. on Dec. 17 for the upgrade of a operation and maintenance of an indoor Corey Borg of Newmark Knight Frank Revolution Money Inc. $300.0 American Express Co. (Manhattan) SB M&A science lab in Fort Hamilton High tennis and sports facility at Alley Pond acted on behalf of the tenant. Bob Savitt DolEx Dollar Express Inc., $110.0 Palladium Equity Partners (Manhattan) FB M&A School in Brooklyn. Bid documents are Park, Queens. For information, contact and Brian Neugeboren of Savitt Partners United Europhil S.A. available for a fee of $100 by certified Glenn Kaalund at (212) 360-1397 or and Steven Marvin of Olmstead Chegg Inc. $57.0 InSight Venture Partners (Manhattan) GCI check or money order. For more [email protected]. Properties repped the landlord. The information, contact Rookmin Singh at asking rent was not available. Residential high rise $40.0 Acro Real Estate Ltd., SB M&A (718) 752-5843 or [email protected]. G Health and Hospitals Corp., North at Second Avenue and HFZ Capital Group Brooklyn Health Network East 51st Street (Manhattan) GOODS AND SERVICES Requests competitive sealed bids by STOCK TRANSACTIONS Bizo Inc. $6.0 Bessemer Venture Partners, GCI G Economic Development Corp. 10 a.m. on Dec. 14 for the collection of Ascent Venture Partners, Venrock (Manhattan), Vulcan Capital Seeks request for proposals by 4 p.m. on out-of-state Medicaid claims. For The following are recent insider transac- Management Inc. (Manhattan) Dec. 21 to evaluate the feasibility of information or to obtain a copy of bid tions at New York’s largest publicly held ferry service in Coney Island. documents, contact Millicent companies filed with the Securities and Strategic Oil & Gas Ltd. $4.7 Libra Advisors (Manhattan) GCI Solicitation documents are available for Thompson at (718) 260-7686 or Exchange Commission by executives and GoldStreet Insurance Co. $3.4 Randall & Quilter Investment SB M&A download at www.nycedc.com/rfp. For [email protected]. major shareholders. It’s believed that (Manhattan) Holdings (70.18%) information, contact Maryann insiders may time transactions to their Helios & Matheson North $1.0 Helios & Matheson Information GCI Catalano at (212) 312-3969 or personal advantage, and that these trans- America Inc. (Manhattan) Technology Ltd. [email protected]. REAL ESTATE DEALS actions are frequently associated with future Selected deals announced during the week of Nov. 15 involving companies in metro New York. stock price performance. Information and FB M&A: Financial buyer M&A represents a minority or majority acquisition of existing G Health and Hospitals Corp., Lincoln The latest real estate deals are provided by data were obtained from Thomson Reuters. shares of a company with the participation of a financial buyer. GCI: Growth capital investment Hospital Center brokers and/or their representatives. represents new money invested in a company for a minority stake. SB M&A: Strategic buyer Seeks competitive sealed bids by 3 p.m. Companies that would like information on G Greenhill & Co. (GHL) M&A represents a minority or majority acquisition of existing shares of a company without the on Dec. 16 for snow removal equipment their real estate transactions to appear in Robert F. Greenhill, founder and chair- participation of a financial buyer. source: capitaliq in the form of plows and blowers. this section should e-mail descriptions and man of the securities company, sold

24 | Crain’s New York Business | December 7, 2009 20091207-NEWS--0025-NAT-CCI-CN_-- 12/3/2009 9:19 PM Page 1

NEIGHBORHOOD JOURNAL helping your business grow in a challenging Big battle over short highway in Bronx economy by improving mind-boggling. He says there has through the neighborhood, even on Sheridan spur was named the third I-895: essential route always been talk about doing major a remade Oak Point Avenue, will worst bottleneck in the U.S. by traf- your profitability to Hunts Point or construction in the area, but it was drive up freight costs by making the fic research group Inrix. about adding another direct high- trip confusing and time-consuming. Mr.D’Arrigo dismisses those ar- ‘road to nowhere’? way to the market. “You want to tell a driver who’s guments. “In fact,” he adds, “I can remem- coming in from Texas or California, “This has never been a traffic is- BY HILARY POTKEWITZ ber my father, who ran the business who’s unfamiliar with these roads,to sue—it’s a land-use issue,” he says. CBIZ Mahoney Cohen before me, talking with the DOT take a ramp down, do a double “People covet that space for park- he debate over the about this very project.” zigzag,and then ramp up again dur- land and houses.” 212.790.5700 fate of one of the nation’s ing rush-hour traffic?” he asks. “It Others criticize the housing and www.cbizmahoneycohen.com shortest interstates, the Impact on freight costs doesn’t make sense.” parks proposal,noting that in the cur- 1.3-mile Sheridan Ex- he insists that tearing down Some traffic experts question rent economic environment,there is pressway, has become a the Sheridan and rerouting trucks that reasoning: Earlier this year, the little money for such projects. Tlong-running battle in the Bronx, pitting local companies against area residents. Also called I-895, the Sheridan connects the Cross Bronx and Bruckner expressways. Local food distributors insist it’s an indispensa- ble artery serving Hunts Point’s three sprawling wholesale food markets. Detractors, however, have another way to describe the Sheridan. The nonprofit Congress for the New Urbanism calls it one of the top 10 “freeways without a future,” and a road ripe for demolition. “It’s one of those highways to nowhere,”says Kate Slevin,executive buck ennis AGAINST SCALING BACK: The new Fulton Fish Market at Hunts Point

director of the Tri-State Transporta- tion Campaign, a group that seeks to improve traffic flow in the city. “We’ve done all the traffic analysis, and even local surface streets see more daily traffic,” she says. The state’s Department of Trans- portation is in the midst of an environmental impact study on the various proposals for the roadway. Completed in 1962, it currently handles about 45,000 vehicles a day, according to DOT studies. A community-backed proposal— first advanced by the Pratt Center for Community Development in 1997— advocates scrapping the Sheridan and creating affordable housing and green space.Trucks would be routed to a new interchange from the Cross Bronx, with a ramp onto Oak Point Avenue, which feedsdirectly into Hunts Point. Most Hunts Point businesses, including those based at the city’s fresh fish, produce and meat wholesale markets, want to keep the Sheridan and build the new interchange anyway, thus adding another artery to the markets, which have grown enormously since the Sheri- dan was built. Hunts Point Produce Coopera- tive Association co-president Mat- thew D’Arrigo finds the idea of re- moving one of its access roads

December 7, 2009 | Crain’s New York Business | 25 20091207-NEWS--0026-NAT-CCI-CN_-- 12/4/2009 7:21 PM Page 1

Condo king Yair Levy dethroned

Continued from Page 1 his woes on his involvement with Asked about the condition of YL man who just six years ago was “too many condo projects at the Real Estate Developers after all widely hailed as New York’s “condo same time when the market col- these setbacks,Mr.Levy would only king” for his rapid-fire efforts to lapsed.” say the firm is currently going snap up faded downtown office Today, his biggest tests are Rec- through a reorganization. buildings and convert them to up- tor Square and Park Columbus, To be sure, the 61-year-old has scale residences. which he bought from The Related come a long way from his roots in Is- Mr. Levy’s company, YL Real Companies in 2005 in a single deal rael, as the son of a real estate broker Estate Developers,which he found- valued at $165 million.Now he is on and a mother who made couture buck ennis ed in 1998,soared to prominence on the verge of losing at least $25 mil- dresses. His first foray as an entre- OPTIMISTIC: The holiday windows at Barneys on Madison Avenue the back of ever-bigger deals. His lion that he invested in Rector preneur came in 1972 when he activity peaked in 2005, when he Square. launched a fashion company with snapped up three huge apartment Besides defaulting on his mort- his brother in New York. Two years buildings, planning to convert their gage at Rector Square, Mr. Levy is later, he says, he used the profits to Barneys eyes Brooklyn nearly 1,000 units to condos.Those being accused of abandoning reno- snap up his first building, paying $1 three—Sheffield57, Rector Square vations and stealing reserve funds million in cash for a mixed-use and Park Columbus—were sup- from the building. Mr. Levy says he property at East 58th Street and Continued from Page 1 edly paid only 60 cents on the dol- posed to solidify his reign. Instead, never stole and blames the lack of Lexington Avenue. compared with last year,” says lar, the move was seen as a vote of they are proving his undoing. funds to finish Rector Square on his Michael Celestino, executive vice long-term confidence in the store. “He is a developer who tried to lender, Anglo Irish Bank, which he Early successes president of store operations at Barneys’ plan to open its first ride the real estate wave and was un- says failed to release funds as prom- his deals got bigger as the mar- Barneys. store in the city in five years is an- successful,”says Marc Held ised.The bank says Mr. Levy ket roared upward.Two of the earli- In addition to trying to break other sign that it’s on more solid of law firm Lazarowitz & defaulted and failed to pay re- er ones were downtown, a 14-unit into the Brooklyn market, the 86- footing.The chain, which has three Manganillo, who is repre- $235M quired fees. condo project on Fulton Street and year-old retailer is expanding its Co-Op stores in Manhattan, along MORTGAGE senting the Rector Square DEFAULTED The situation at the 95- a 50-unit condo on John Street.One digital offerings. At the same time, with its Madison Avenue flagship, tenants. “Unfortunately, ON AT 620 unit Park Columbus is simi- of his most successful transactions it is trimming its famously distinc- typically needs between 5,000 and with his mistake, a lot of SIXTH AVE. lar. He defaulted on a $20 came in 2004 when he sold a build- tive inventory by 20% to lessen the 10,000 square feet for a Co-Op.The condo owners got hurt.” million loan there. Then, the ing on East 23rd Street for $82 mil- pressure for deep discounts if sales company would not provide details, Mr. Levy’s empire began to un- day before the foreclosure auction in lion.He had bought the building for run short. but real estate insiders speculate ravel in spectacular fashion this September, he petitioned to block roughly $30 million. He poured So far, these moves are paying that Barneys will take space on At- summer when lenders foreclosed on it—and promptly filed for bank- most of that gain into Sheffield57, off.The 42-store chain, which end- lantic Avenue, the thoroughfare the 597-unit Sheffield57—making ruptcy on the building. According Rector Square and Park Columbus. ed 2008 with single-digit sales de- that is already home to upscale it the biggest failed condo conver- to the filing, the property has $50 “He is known as a reputable in- clines, has done better this year. In clothier Steven Alan and home dec- sion in city history—and auctioned million in debt. vestor,” says Azrita Aghravi, a bro- October, for example, it reported a orator Jonathan Adler. it off for $120 million. Mr. Levy, “We expect the judge to termi- ker at Eastern Consolidated who 7% uptick in same-store sales from “Brooklyn is a logical move for along with partners Kent Swig and nate the stay and allow the foreclo- has worked with Mr.Levy.“You just a year earlier.That contrasts sharply them,” says Laura Pomerantz, a Serge Hoyda, had bought the prop- sure,” says Harvey Strickon of law can’t predict the market.” with the dismal 14.5% decline at principal at PBS Realty. erty for $418 million only four years firm Paul Hastings Janofsky & Despite his woes, Mr. Levy is Neiman Marcus and the 0.7% in- earlier. Walker, who represents Garrison confident he will prevail at Rector crease at Saks Fifth Avenue for the One-of-a-kind offerings Investment Group, which recently Square and Park Columbus. He same month. Though same-store so,too,were its Scottsdale, Ariz., Infamous ice-bucket caper bought the loan. claims he can obtain the funds need- sales fell in November by an undis- and Chicago stores, which opened before that deal fell apart, Mr. Meanwhile, Mr. Levy’s invested to complete both. closed amount, executives say the earlier this year.But with Istithmar’s Levy completed two days of comment in 620 Sixth Ave., a 700,000- While most observers say his drop is not nearly as bad as that finances shaky and the retail climate munity service for assaulting Mr. square-foot Chelsea office and retail chances are dim, Mr. Levy insists logged by rivals such as Saks, whose unstable, Barneys is hardly in the Swig with an ice bucket during an building that he owns with Meyer that, one way or another, he will be same-store sales slid 26.1%. clear. In November, luxury spend- acrimonious business meeting. Chetrit and Charles Daya, is also in back. Barneys’ recent performance ing, excluding jewelry, declined Mr.Levy points out that many of trouble.The trio has defaulted on its “Even if I reach zero,”he vows,“I contrasts sharply with the situation 7.3% over last year, the sector’s first his peers are also struggling.“Every- $235 million mortgage and $30 mil- have enough experience to make in February, when several factoring drop since August, according to body is in trouble,” he says, blaming lion mezzanine loan. money with no money.” firms—companies that give suppli- MasterCard Advisors’ Spending- ers cash for their expected payments Pulse. Retail experts also point out from stores—stopped doing busi- that 18 months after the retirement ness with Barneys because of its un- of Chief Executive Howard Socol, Actors Fund makes housing play certain financial condition. The Barneys has yet to find a successor. weeklong suspension resulted in a “They have to be careful,” says freeze in merchandise shipments, Michael Appel, president of retail Continued from Page 1 its and tax-exempt bonds,combined first nine months of this year, a 25% forcing Istithmar to quickly step in. consulting firm Quest Turnaround with Common Ground, a nonprofit. with philanthropic dollars. increase over the same time last year. Istithmar, which had purchased Advisors. “I don’t know if there are The Actors Fund wants to build Starting an ambitious new build- In the past two years, the fund’s so- the store from Jones Apparel Group enough of those high-end luxury- on that experience. It is now searching entity during the biggest financial services and emergency financial three years earlier for $942 million, forward customers out there.” ing for an executive director to run cial crisis in decades may seem fool- assistance departments have seen a pumped $25 million into it in a suc- To attract such shoppers, Bar- the development corporation and hardy. But executives at the Actors 30% increase in requests for help. cessful move to ease the financial neys is banking on its one-of-a-kind raising money to operate it, though pressure. Barneys also hired Perella offerings.Two-thirds of the items in executives at the organization Recession creates shortfall Weinberg Partners to explore a re- the chain’s holiday catalog are exclu- would not specify what the entity’s ‘This is the at the same time, individual con- structuring of its $500 million of sive or limited editions. budget would be. tributions are running 13% behind debt.With Istithmar awash in debt, “Barneys carries unusual prod- In June, the nonprofit launched worst time we’ve 2008, and grants from foundations and many of its properties—in- uct. You’re not going to find a basic an emergency $12.5 million fund- have been 20% less than anticipated. cluding the W New York-Union turtleneck or a men’s cardigan,” says raising campaign, led by Annette ever seen for the Because of the combination of Square Hotel—in deep trouble, fu- Jack Hendler, president of Net Bening, Kevin McCollum and funding losses and an increased ture infusions will be far more dif- Worth Solutions, an advisory firm Jonathan Tisch, to meet the grow- people we help’ need for services, the nonprofit will ficult to manage. specializing in retail. ing need for its services during the finish the year with a $1.3 million Another key focus is the chain’s recession.The trio has already raised deficit. But the extra money raised Brooklyn a logical move three-year-old e-commerce site. It $8.4 million and expects to bring in from the campaign will erase that at barneys itself, though, things currently brings in almost 5% of to- the rest by April. A quarter of the deficit and help pay for the addi- are looking up. tal sales, and executives expect it to funds from the campaign are ear- Fund felt they had little choice. tional services needed to get “Barneys is paying us beautiful- grow rapidly from here. To help marked for the development corpo- “This is the worst time we’ve ever through the recession. ly,” says Gary Wassner, president of quicken the pace, Barneys launched ration. The Broadway League, seen for the people we help,”says Joe “There may be improvements in factoring firm Hilldun Corp., not- its own smart-phone application Broadway’s trade association, has Benincasa,president and chief exec- the economy, but the jobs will only ing that the store’s improved mer- last month, and last week posted its pledged $250,000 over five years to utive of the fund, which helped come back at the tail end [of the re- chandise and inventory cuts have holiday blog, along with “Cranky help with the corporation’s operat- 11,000 actors and other entertain- covery],” says Barbara Davis, chief also helped the situation by lessen- Elf ” videos featuring creative direc- ing expenses. ment professionals last year with operating officer of the Actors ing its need for capital. He also says tor Simon Doonan. emergency grants, free health care, Fund. “We are anticipating seeing he’s “watching closely.” “We try to be witty and irrever- Need is acute housing and job training. the same difficulties that people are Last month, billionaire investor ent and have fun,” says Karl Her- the buildings will be funded by a The nonprofit’s health care clin- going through for the next two Ron Burkle purchased a block of mann, executive vice president of variety of means,including tax cred- ic had more than 2,100 visits in the years.” Barneys’ debt. Although he report- marketing and e-commerce.

26 | Crain’s New York Business | December 7, 2009 Project2 10/22/09 11:30 AM Page 1

Our teams span the globe And now Continental Airlines Has joined Star Alliance Reaching them is easier than ever. I’ve earned it.

Christine Reischl, Senior Vice President & General Manager, Industry Standard Servers, Hewlett Packard and Star Alliance Gold Status

staralliance.com 20091207-NEWS--0028-NAT-CCI-CN_-- 12/4/2009 7:26 PM Page 1

launched subsidiary Madison Square Partners, which brokered Small and local wins the publishing race media-buying deals with scores of ethnic papers around the region for Continued from Page 3 ly said, ‘We’re a national paper, and Like many other publishers,Man- time, they’re diversifying. the Michael Bloomberg and Cyrus done better than the other divisions. we’ve given up on New York,’ ” Mr. hattan Media instituted a company- They’ve expanded the events Vance campaigns. Mr. Allon recus- They will finish the year up 12% in Burns says.“We say ‘Thank you.’ At wide pay cut at the end of last year. business, which now contributes es himself from his papers’ endorse- ad revenue, while the company’s the ground level, it leaves [the city] Furthermore, community newspa- more than 20% of revenue. It in- ment process to avoid conflicts of revenue overall will be flat,at around to people like us.” pers, like the rest of the print indus- cludes the Blackboard Awards for interest. $15 million, according to Mr. try,are searching for the holy grail— Teachers and summer camp fairs The company is also looking into Burns. Avenue magazine, which Expanding events business a way to make money on the Web. for parents. The antiques show, further acquisitions, in print, digital Manhattan Media bought in 2002, the publisher hardly has a perfect “It’s a challenge we all face, every purchased in 2008, is now part of and events. Its access to a more than has taken the worst hit. record with acquisitions. It had to day,” says Queens Tribune publisher Avenue. $15 million war chest at Isis certain- The executives say their papers fold 02138, a magazine for Harvard and community newspaper veteran ly helps in what is clearly a buyer’s are growing because small mer- alumni, just six months after buying Michael Schenkler, who was Mr. Ethnic newspapers market. Mr. Allon says several pur- chants and local institutions need to it, when the economy tanked in Oc- Allon’s boss at News Communica- a miami media subsidiary publish- chases or joint ventures could be an- reach customers as cost-effectively tober 2008.And the company is still tions Inc. in the mid 1990s. es Latin Trade magazine and runs a nounced by the end of January. as possible.Meanwhile,other media tinkering with New York Press,a Messrs. Allon and Burns say paid subscription Web site for the “We’re bullish on print and on outlets have bigger fish to fry. long-troubled alternative weekly it they,too,are looking for a successful Latin American business commu- digital,” he says.“The path to victo- “The New York Times has basical- bought in 2007. online revenue model. In the mean- nity. In addition, Mr. Allon recently ry is multimedia.” Russian Tea Room

Class-A Redefined. Continued from Page 3 and a New York strip steak were recently added. All the changes, going back to Mr. LeRoy’s renovation, do not sit well with its former owner, Faith Stewart-Gordon, whose late husband bought the restaurant in 1955. “It’s almost ironic to call it the Russian Tea Room. It’s something else. Maybe it should be called Russian Tea Room III,” says Ms. Stewart-Gordon, who frequently walks past the restaurant but has not stepped inside since Mr. LeRoy ran it. Ms. Stewart-Gordon says the restaurant brought in about $14 million annually during her tenure and was profitable. Restaurateur also the landlord unlike past owners of the Russ- ian Tea Room, RTR Funding— helmed by real estate mogul Gerald Lieblich—is not a traditional restaurant company, though it also owns Italian eatery Beppe.Mr.Bib- eraj splits his time between the Tea Room and commercial real estate, 10,400 - 16,400 SF having earned a degree from New FULL FLOORS AVAILABLE York Law School last year. “I think a business background 2,130 - 8,520 SF helps us to monitor waste and pur- PRE-BUILTS AVAILABLE chasing,” says Mr. Biberaj. “We are very conservative in spending NEW money.” Building Facade, Lobby, Elevators, Corridors and Bathrooms Mr. Biberaj declined to disclose the restaurant’s revenues, though he NEW says they are down because of the Ownership: Otéra Capital dearth of private parties. Mr. Wolf Spectacular Park and Avenue Views says the Russian Tea Room should Pre-Builts and Build-to-Suit Availabilities Designed by Gensler be pulling in as much as $16 million a year in revenues, but there is no telling how the poor economy has affected the restaurant’s revenues or Frank Doyle Cynthia Wasserberger David Kleiner International Director Managing Director Senior Vice President its bottom line. 212.812.5759 212.812.5816 212.812.5954 Regardless of its financial for- [email protected] [email protected] [email protected] tunes today, the Russian Tea Room is unlikely to share the fate of other www.1330AOFA.com restaurants that closed this year, if only because its owner is also its landlord. It also does not have a labor contract. “The Tea Room always fluctuat- ed with the economy, so that’s why it was always important to own the building,” says Mr. Wolf. “It will give it longevity.”

28 | Crain’s New York Business | December 7, 2009 20091207-NEWS--0029-NAT-CCI-CN_-- 12/3/2009 9:15 PM Page 1

$390 Average amount U.S. households are expected to spend on Christmas gifts this year, vs. $418 in ’08 USINESS IVES Source: The Conference Board B MR. FANTASY: L HOT JOBS David Hoey dreams up the window displays EXECUTIVE for Bergdorf INBOX Goodman.

CHIEF INVESTMENT OFFICER Anne Fisher ORGANIZATION Office of New York City Comptroller How to head JOB DESCRIPTION Supervise the for greener Bureau of Asset Management MOST IMPORTANT TASKS pastures Develop overall investment HERE’S AN UNSETTLING PAIR OF policies, standards and guidelines; STATISTICS from nationwide manage city’s pension funds executive career network CREDENTIALS NEEDED ExecuNet (www.execunet.com): Experience in asset and risk A recent survey found that 94% management and compliance of senior managers would be SALARY Current CIO earns willing or eager to leave the $217,000 industry they’re in now. Yet only 21% of executive positions RECRUITER Under consideration are actually filled by candidates DOWNSIDE Tough job, especially from outside the hiring in this investing environment company’s industry. How to close that gap? UPSIDE Established city The job growth now is in two government position broad fields, health care and The New York City comptroller is “green” technology, notes adviser and custodian to five retire- Lauryn Franzoni, ExecuNet’s ment systems with assets totaling executive director. roughly $85 billion. The new CIO “We’re seeing lots of will work under Comptroller-elect executives trying to move into John Liu, who takes office Jan. 1. ‘green’ businesses, which may be —AMANDA FUNG relatively easy because it’s so new that no one has much of a track record. It’s like the dot-com world was in the early ’90s, a wide-open EXECUTIVE MOVES frontier.” She adds that “some functions like IT and HR are very Ticonderoga Securities: transferable because they’re Jay Vleeschhouwer, 53, less industry-specific.” was named senior software analyst and Even so, anyone hoping to managing director at buck ennis cross industry lines has to “make the institutional it insanely easy for the hiring broker-dealer. He was GOTHAM GIGS manager to appreciate your most recently a achievements,” Ms. Franzoni managing director says. “Learn the jargon, and at Merrill Lynch. WNET.org: Ranfi Rivera, 42, was understand how success is promoted to executive director of measured, so you can translate business development and institutional He Does Windows your experience into language a strategy at the parent of New York’s prospective employer will get.” public television stations. He had been While you’re at it, she says, deputy general counsel, program ‘You though he grew up in texas, David Hoey was never the gun-toting “Read everything you can about business affairs. the field, blog about it and get to Invest in France Agency: Philippe type.That is, until he got his hands on a glue gun at age 32, while Yvergniaux, 51, was appointed president have to helping a friend working as a holiday trimmer at Neiman Marcus. ¶ “I know people. Make yourself a for North America at France’s foreign never looked back,” says Mr. Hoey as he surveys his current domain: part of it.” Industry conferences direct investment agency. He was be able to are great for networking, of previously chief executive of the agency’s the 35 display windows at Bergdorf Goodman. ¶ For over a decade, he course, and that’s essential: “No office in the United Kingdom. take your has been the head of window dressing at the famed department store, one is hiring based on a New York Stage and Film: Nicki Genovese, résumé alone, so you need 45, was appointed managing director at responsible for the whimsical, luxurious displays known as “visual the theater company. She was most frivolous merchandising.” Still-life drama is more like it. ¶ As a kid, Mr. Hoey those in-person contacts.” recently the general manager of the recalls,“I thought I’d grow up to be an architect or a cake decorator. Studying up on your chosen Public Theater/New York Shakespeare sidevery field may have an unexpected Festival. My job now is a perfect blend of both, really.” ¶ His father was a radio benefit, Ms. Franzoni notes: “You Stonehenge Partners seriously’ announcer, and Mr. Hoey, who earned a degree in music, was writing may decide it’s really the last Inc.: Richard jingles for radio and TV ads in Dallas when he took the holiday gig at thing in the world you want to Dansereau, 49, has do.” Far better to find that out joined the firm as Neiman Marcus. ¶ “It’s harder than you think,” says the 49-year-old. now than to discover it after managing director The job requires attention to detail and deadline discipline, but also a in the real estate you’ve been hired. firm’s investment sense of frivolity. Mr. Hoey and his team often pull 18-hour stints management division. building miniature worlds overnight, so they’re ready when the store HAVE YOU EVER MADE THE LEAP He previously served from one industry to another? as president and chief operating officer opens.“You have to be able to take your frivolity very seriously,”he quips. How did you do it? Tell us at See EXECUTIVE MOVES on Page 30 —hilary potkewitz www.crainsnewyork/execinbox.

December 7, 2009 | Crain’s New York Business | 29 20091207-NEWS--0030-NAT-CCI-CN_-- 12/3/2009 9:17 PM Page 1

RÉSUMÉ REVIEW Aim: more customers to spoil Is your job search all it could be? We ask the experts. CEO of FreshDirect NYC suburbs early next year, but What are FreshDirect customers NAME ROGER MARQUIS also potentially go to one new city ordering these days? SUMMARY eyes expansion, later in the year. We are doing very well with our Senior-level marketing executive for Fortune four-minute,microwaveable restau- 500 financial services firms eats own cooking Really? Which one? rant meals. We have about 50 such PROFESSIONAL EXPERIENCE Sorry, but I can’t let that out. offerings, and we’ll eventually offer about 100 items. We created our SS Columbia Project, 2008 to present BY LISA FICKENSCHER How is this holiday season shaping up? own Italian line, and I think we’ll Marketing consultant Our strongest two days of the year continue to build that out. People Provide pro bono consultation services to nonprofit organization ick braddock, chair- are the Tuesday and Wednesday be- are buying less expensive meats, HSBC, 2006-2007 man and chief executive fore Thanksgiving, and on both such as chicken, instead of steak. Vice president, business development manager of FreshDirect, is gear- days, we hit all-time records in vol- They are also buying fewer gro- Expanded the bank’s product reach and revenue ing up for big changes. ume and revenue. Our order vol- cery staples, such as tissue pa- True Wind, 2003-2006 The $240 million online ume for the year is up 11% [com- per, canned goods and Co-founder, marketing director Rgrocer, employing 1,800 and deliv- pared with the same period last snacks. Directed marketing, business development, customer service for travel ering food to some 150,000 cus- year], but our average or- e-commerce company tomers in the city and surrounding der of around $120 is Are they buying those goods Touchpaper Corp., 2002-2003 suburbs, is down about 3% elsewhere? Senior marketing manager eyeing other from a year ago. I don’t think so.Some peo- Managed $325,000 annual budget, vendor relationships and four major cities ple are just cutting back. telemarketers for new cus- Deutsche Bank, 1998-2001 MOVERS & Do you order on SHAKERS tomers. Vice president, senior marketing manager Mr. Brad- FreshDirect’s Web site, or do Managed $500,000 annual budget, creative agency relationships and dock, a sig- you get stuff for free? four direct reports Rick nificant in- I have to buy it. I wouldn’t BNY Mellon, 1993-1997 vestor in want to look like a freeloader. Marketing manager Braddock FreshDi- My wife and I order a lot of the Developed promotional campaigns that led to a $400 million increase rect, was prepared meals.We buy every- in annual fund sales former- thing through FreshDirect. ly the president of Citibank EDUCATION and chief executive of Who places the order? Northeastern University, B.S. in business administration, 1987 Priceline.com. More re- My wife. Résumé appears in condensed form. cently,he headed up a pri- EXPERT ADVICE vate equity firm, Mid- Are you a foodie? Ocean Partners. I would be masquerading if I Focus on networking within the companies you’ve worked for and other said I was. If I think someone firms such as Goldman Sachs and J.P. Morgan. While they have all Is FreshDirect looking knows a lot about food, I’m very reduced their staff during the recession, they will be looking for marketing at new markets? withdrawn. I started my career leadership to help them grow back their business. Get involved with We are getting at General Foods, but I’m attracted MENG, the Marketing Executives Networking Group here in New York ready to expand to FreshDirect because I love the (www.mengonline.com). With your startup experience and your current now. We’ll go power of the Internet to serve cus- pro bono work, I would also network in the e-commerce field. While further into the buck ennis tomers. e-commerce may have slowed down, it is a growth market. —chuck wright, managing director, Stanton Chase International To contact this candidate or to be featured in “Résumé Review,” e-mail us EXECUTIVE MOVES at [email protected].

Continued from Page 29 Phoenix House: Deni Carise, 48, joined clinical professor at the University of at Cadim. the nonprofit alcohol Pennsylvania’s department of psychiatry The Mechanical Contractors Association and drug abuse and as director of the treatment systems of New York: Alexander Gettler, 50, was treatment and section at the Treatment Research associate in the law firm’s real estate served as vice president of business appointed executive vice president. He prevention program as Institute. and banking client service group, development at CCK Global Events. was most recently vice president of chief clinical officer, Max Total Benefit Solutions Inc.: David effective Jan. 1. Brooklyn Community industrial relations and director of effective Jan. 1. She M. Solomons, 40, has formed a boutique FXFowle Architects: Nicholas Garrison, Foundation: Philip Li, human resources at the National Fire will continue in her employee benefits consulting and 51, was promoted to principal at the 49, was appointed Sprinkler Association. roles as an adjunct brokerage firm and will serve as architecture and design firm. He was chief operating officer president. He was previously senior vice most recently a design director. at the community president and director of group benefit Wilson Sonsini development operations at Wells Fargo Insurance Goodrich & Rosati: charitable CORPORATE LADDER Services of New York Inc. Jessica L. Margolis, 34, organization. He was Sheppard Mullin Richter & Hampton: was promoted to most recently a MARKETING EXEC LANDS A NEW ROLE Paul W. Garrity, 42, joined the law partner at the law philanthropic services consultant at firm as a partner in the intellectual firm. She was most Changing Our World and executive RITA RODRIGUEZ, 50, was appointed chief executive for the Americas at property practice group. He was most recently an associate. director at Coro New York Leadership Imagination. She joins the global brand communications agency from The recently a partner at Kelley Drye & RSM McGladrey Inc.: Center. Warren. Robert McCahill, 61, Active Fire Sprinkler Corp.: Bill Wian, 55, Brand Union, where she had been chief executive for the U.S. In her new role, Blank Rome joined the accounting and business was named vice president of sales at the she will help clients build and develop their Government consulting firm as a tax director and fire protection organization. He was brands in a highly competitive marketplace and Relations: Ashley senior adviser to the financial previously Northeast sales manager at will expand the firm’s talent and capabilities. E. Davis, 34, was institutions practice. He was most Globe Fire Sprinkler Corp. Ms. Rodriguez has significant experience promoted to senior recently a tax partner at KPMG. National Hockey League: Jordan Katz,33, developing global marketing strategies and has principal from Gibson Dunn & Crutcher: Alexander was named national sales manager for principal at the previously worked on both the client side and Southwell, 38, was promoted to partner the NHL Network. He was most affiliate of law firm in the litigation and white-collar group. recently an account manager at Comcast. the agency side of brand development. She Blank Rome. He was formerly of counsel at the law Sonnenschein Nath & Rosenthal: Mark E. joined The Brand Union in 2004 as a managing S. H. Martin & Co.: Martin Okner, 35, firm. Young, 48, joined the law firm as chief director of brand strategy. Before that, she led was appointed president and chief Citizens Committee for New York City: marketing officer. He was formerly chief the corporate branding practice at executive at the advisory firm. He was Yovanka Bylander Arroyo, 39, was named marketing officer at Foley Hoag. Interbrand. She has also held senior most recently director of demand president and chief operating officer at —maia blume marketing roles at AT&T, both domestically planning at Revlon Inc. the community development and civic TPN: Christy O’Pella, 39, was promoted action organization. She was previously and internationally. to senior vice president of client service Northeast regional director at Hispanic EXECUTIVE PROMOTIONS Imagination is based in London and has 11 at the retail marketing agency. She was Scholarship Fund. The fastest way to get an announcement into offices around the world. formerly group account director. InterContinental The Barclay New York: Crain’s is to submit details online. Fill out the form —MAIA BLUME Bryan Cave: Andrew E. Auerbach, 35, Mark Speranza, 47, was named director at www.crainsnewyork.com/submit. The was promoted to partner from of sales and marketing. He most recently Executive Moves column is also available online.

30 | Crain’s New York Business | December 7, 2009 20091207-NEWS--0031-NAT-CCI-CN_-- 12/4/2009 1:31 PM Page 1 chemex / INSATIABLE CRITIC 6:30 p.m. at 42 W. 44th St. Fees are flickr.com Gael Greene $15 for members and $25 for THE nonmembers. Preregistration is recommended. Call (212) 382-6623 for further information. WEEK PROGRAMS & WORKSHOPS TUESDAY, DECEMBER 15 The inn spot CAMBA will hold a workshop from 3 p.m. AHEAD to 5 p.m. at 884 Flatbush Ave., second floor, Brooklyn, on secrets and strategies DEC. 14-20 for successful business planning.The

at The Pierre event is free. Call (718) 282-2500 or e- bloomberg news mail [email protected]. CONFERENCES Yet-undiscovered MONDAY, DECEMBER 14 SEMINARS WHAT HE’S THE WOMEN PRESIDENTS’ ORGANIZATION WEDNESDAY, DECEMBER 16 Two E specializes will hold a breakfast for the top 10 NORTHWESTERN MUTUAL FINANCIAL READING women entrepreneurs from 8 a.m. to 10 NETWORK will hold a free seminar on in small plates a.m. at Club 101, 101 Park Ave. The fee long-term care from 4 p.m. to 5 p.m. at JULIAN ROBERTSON is one of the is $95. For more information, contact Russo Financial Group, 875 Third Ave., legends of the hedge fund world. eet us in roomTwo (201) 238-2435 or 23rd floor. Contact (212) 433-1280 or His firm, Tiger Management, E at The Pierre,” my [email protected]. [email protected]. managed more than $20 billion back in the 1980s. friend Susan said. TUESDAY, DECEMBER 15 CULTURAL EVENTS Pick “We’ll have small Join GOTHAM MEDIA and FRANKFURT THURSDAY, DECEMBER 17 of the Mr. Robertson, now 77, retired plates.” KURNIT KLEIN & SELZ from managing money in 2000

buck ennis for a breakfast on Join the New York City week She didn’t say,but I was guessing but remains active, investing in M DARINGLY SPICY: Arctic char tartare the business of social media from 8 a.m. Ballet at the David H. Koch we also would be sipping a Straw- to 9:30 a.m. at 488 Madison Ave., 10th Theater, 20 Lincoln Center Plaza, promising new hedge funds berry Ridge red off the hotel’s wine floor.The event is free, but preregistration at 6 p.m. for its annual special, The and donating much of his list from the Connecticut winery TWO E is required. For more information, call Nutcracker. Tickets range from $30 to $2.2 billion fortune to charity. she runs with her husband, Bob. Pierre Hotel, 2 E. 61st St. (917) 710-2747 or e-mail $205, and the show runs through Jan. 3. His favorite stocks nowadays Taj Hotels has just announced the (212) 940-8113 [email protected]. For more information, call (212) 870-5570. include Visa and MasterCard, grand opening of its $100 million THE INTERNATIONAL FACILITY which have no direct credit risk. redo ofThe Pierre,and the world has MANAGEMENT ASSOCIATION OF GREATER SATURDAY, DECEMBER 19 He likes reading biographies, not yet arrived. The path from Fifth CUISINE Eclectic NEW YORK will hold a lunch from Head to the METROPOLITAN MUSEUM OF and a recent favorite is The Avenue to the check-in desk is near- ART PRICE RANGE Entrées $18-$29 12:30 p.m. to 2 p.m. at Ted Moudis at Fifth Avenue and East 82nd Street Snowball: Warren Buffett and the ly deserted as we search for Two E. Associates, 79 Madison Ave., on for an exhibition honoring the 50th Business of Life, by Alice And then we spy a bar on the left, SERVING Lunch, tea, dinner negotiating lease deals. The fee is $25. anniversary of The Americans, a book of Call (914) 241-4362. photographs by Robert Frank.The exhibit Schroeder, which delves into the framed by a dramatic Georgian en- NOISE LEVEL Well-bred murmurs renowned investor’s appetites try, down a few steps. Off to the left, is open through Jan. 3. Recommended NETWORKING RECEPTIONS for food, profits and nurturing, I can’t wait to return. admission is $20 for adults. Saturday seated in Architectural Digest-worthy MONDAY, DECEMBER 14 splendor,are our pals in a group of six. hours are 9:30 a.m. to 9 p.m. For more maternal women. “It was very I will definitely go back. Join the NEW YORK CITY BAR ASSOCIATION information, call (212) 535-7710. interesting—and extremely Steven and I pull up heavy side chairs I’ll let them simmer awhile. for a networking reception starting at —maia blume and start sipping Merlot. We also frank,” Mr. Robertson says. NO HATS Never again. —AARON ELSTEIN catch up on the bar-lounge’s freebie To view Crain’s full calendar listings, go to www.crainsnewyork.com/events snacks—super crisp potato chips, olives and nubbins of parmesan. The lighting is strangely flat; not naise (with dashi stock and bonito unflattering,but rather somber.I feel flakes). There is also an impressive rich and vaguely upper-crust just sit- amount of lobster in the Pierre sal- ting there as waiters bustle around, ad—a whole small lobster, in fact, pouring, discreetly setting down with artichoke, carrot, cucumber, overflowing chip bowls to replace French radish, asparagus, hearts of ravished ones unasked. If olives palm, endive and white truffle oil count as salad and chips as veggies, dressing. It has a lusty after-kick, too. we could make a meal of this salt and Cuts of “Vietnamese-style pa- fat for the price of a drink. per roll” line up decoratively, full of “Shall we ask for menus and order peekytoe crab and crunch from cu- some small plates?” says Susan, our cumber, carrot and spring onion— crowd’s most notable hostess. “And to dip into chili-cilantro sauce. let’s move to fresh tables,” she says, We’re trading a cut for a taste of the dismissing the remnants of our cock- ham and mozzarella panini on cia- tail hour covering three small black batta with pesto and another for tabletops. We have a vast choice in lamb kibbe on a skewer. My Cobb the scantily populated retreat. salad is a quite respectable version Servers scurry about our new with bacon bits, tomato, avocado, bivouac, bringing linen napkins, sil- hard-boiled egg, poached chicken ver, clean goblets and splendid and Roquefort, a small pitcher of warmed petits pains, and pouring mustard vinaigrette alongside. water.I am not expecting much from There are more salads at lunch,an the abbreviated listing of “Lite additional sandwich—deviled egg Bites,” or even from “Plates” (five of on brioche—and cheesecake,choco- them, mostly sandwiches), priced late cake and tarte tatin, individual from $14 for yucca and plantain desserts unlike the evening menu’s chips with roasted tomato salsa and sharing items: $10 samplers of sor- hummus to $26 for peppered tuna bet, panna cotta or crème brûlée tataki, or “miniature” seared veal fil- baked in Chinese soup spoons, a se- let with prosciutto, quail egg, olive rious letdown. The sorbets are unre- tapenade and sauce vierge.Promises, markable, and the brûlée I (attempt promises, promises, I am thinking. to) taste is glued tight to its spoon. Then Steven offers me a taste of You’ll pay plenty if you’re his arctic char tartare,dressed up with thirsty—this is a top-rated hotel,af- curling plumes of crisp plantain like a ter all—so it’s $9 for tea or coffee Folies Bergère showgirl in a cocktail and $7 for a small bottled water. But glass. Big shock. It’s daringly spicy, Bob says $45 for his ’05 Ascot Re- tart and sweet.Delicious topped with serve Merlot is a deal. salmon roe and dosed with green chili pepper, crushed wasabi peas, lime, Copyright © 2009 by Gael Greene. cilantro, basil and Japanese mayon- Syndicated by www.insatiable-critic.com.

December 7, 2009 | Crain’s New York Business | 31 CN013347 11/19/09 12:19 PM Page 1

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