The 50 Most Powerful Women in NY

Home , Antunes, Bonnie Hammer, Jay Walder, Jennifer Raab, Mary Ann Tighe, Mary Callahan Erdoes

20110627-NEWS--0051-NAT-CCI-CN_-- 6/23/20117:02PMPage1

NEWSPAPER Page 19 on them,starting Read allabout culture andmore. business,politics, town—shaping They’re this running nNY in women powerful most 50 The O.XVI O.2,27 26, NOS. XXVII, VOL. ELECTRONIC EDITION WWW.CRAINSNEWYORK.COM SPECIAL ISSUE ... and41 more! Bonnie Hammer Edith Cooper Shelly Lazarus Kathryn Wylde Sandra Lee Barbara Novick Jane Rosenthal Patricia Harris Mary AnnTighe {LEFT TORIGHT} rank? they do Where UE2-UY1,2011PRICE:$3.00 JUNE 27-JULY 10, CN014351 4/15/11 4:24 PM Page 1

Lead your employees to better health.

Research shows that companies with wellness programs have less sick leave, less direct health care costs and fewer worker’s compensation claims.* That’s good for business.

Empire BlueCross BlueShield’s 360° Health® gives your employees over 40 programs and services that work together to create a holistic integrated approach to help improve their health. And healthier employees can potentially lower overall health care costs for you.

Visit us today at empireblue.com/connects2 to learn more about how Empire can help you create healthier and more productive employees.

*Source a meta-review of 42 published studies of worksite health promotion programs. www.ceridian.com Accessed 9/15/2009. Services provided by Empire HealthChoice HMO, Inc. and/or Empire HealthChoice Assurance, Inc., licensees of the Blue Cross and Blue Shield Association, an association of independent Blue Cross and Blue Shield plans. 20110627-NEWS--0001-NAT-CCI-CN_-- 6/24/2011 8:30 PM Page 1

INSIDE

TOP STORIES More Broadway shows entertain off-Broadway runs ® PAGE 2 Pages 19-35 The cable guys may have finally earned VOL. XXVII, NOS. 26, 27 WWW.CRAINSNEWYORK.COM JUNE 27-JULY 10, 2011 PRICE: $3.00 advertisers’ respect PAGE 2 Black power vacuum

bedrock of New York’s—and the na- delegation—crumbles, attention Old players waning, Harlem transformed, tion’s—black political establish- has turned to a cadre of upstarts in a new vanguard waits in Brooklyn wings ment.Harlem’s challenges are deep- central Brooklyn. er than Mr. Rangel’s ethics scandal Political observers and elected black political power in New York and Mr. Paterson’s gubernatorial officials point to Assemblymen BY SHANE DIXON KAVANAUGH is in retreat, and its traditional cen- flameout. Upper Manhattan has a Hakeem Jeffries and Karim Cama- ter of Harlem has been weakened. shrinking number of black voters, ra and state Sen. Eric Adams as fu- Itty-bitty cupcakes Rep. Charlie Rangel has been “It’s been a tough time,” said and its onetime farm team of elect- ture stars.All took office within the neutered. David Paterson’s tumul- Kevin Wardally, a Harlem-based ed officials is nearing retirement age. past six years and appear to be as mean extra-sweet tuous, short-lived governorship is Democratic operative.“But I do be- As the Democratic dynasty that ambitious as they are adept. profits for bakeries history. And for the first time in 20 lieve there are strong black leaders produced the city’s first black may- “I know all of them, and I’m just PAGE 3 years, no blacks hold citywide or who will fill that void.” or—as well as the state’s first black delighted we’re getting this new statewide elected office. Those leaders, however, are un- comptroller and governor, and the wave of leaders,” said Carl McCall, Crane operators’ After a long and steady rise, likely to hail from the longtime dean of New York’s congressional See BLACK POWER on Page 41 strike could stop $10 billion in work PAGE 3 Developers The proxy pest every overpaid CEO are getting wants squashed the urge PAGE 4 to convert

Timing seen as right to remake rentals, offices into condos

BY AMANDA FUNG

Next month, 55 condominiums in a classic prewar building on Fifth BUSINESS LIVES Avenue overlooking Central Park will hit the market at prices start- CASH AND CAREY: ing at $1,000 per square foot. The President David Carey GOTHAM GIGS is fostering a more opening comes after 18 months of risk-taking culture at Rescuing helpless pets work to convert the 15-story, cost-conscious from hoarders P. 45 brown-brick and white-limestone publishing giant Hearst. One new ● ANNE FISHER property,which once housed Mount Sinai Medical Center staffers, into feature: think tank Passion and business The App Lab. don’t always mix P. 45 modern luxury residences. “This was a unique opportuni- ● MOVERS & SHAKERS ty,” said Harold Fetner, president Alvin Ailey’s new artistic of Durst Fetner Residential,which buck ennis director steps in P. 46 bought 1212 Fifth Avenue for $42 ● GAEL GREENE Duo is a million in 2009 and is spending restaurant first P. 49 $100 million to convert it. “It’s all about location.” From Hearst to first? These days, a growing number of developers are also betting that INDEX it’s all about timing. In fact, the Carey takes on rivals with innovations, 100 new titles apartments at 1212 Fifth will be THE INSIDER ______8 just the first in a new wave of con- OPINION ______11 do conversions expected to hit the The executive with the nerd persona is now running BY MATTHEW FLAMM NEIGHBORHOOD JOURNAL ______12 market in coming months. the company,at a time when the ability to come up with Unable to secure financing forward-thinking plans is more important than ever. REAL ESTATE DEALS PLUS ______14 from still-leery banks to build con- When David Carey was in his 20s, the Hearst Maga- Since he returned to the publisher a year ago, follow- SMALL BUSINESS ______16 dos from the ground up, develop- zines president recalled recently, he wasn’t much for ing a long stay at Condé Nast, Mr. Carey hasn’t wast- CLASSIFIEDS ______38 ers across the city are settling for a sports, but he liked writing business plans. In fact, ed a moment turning Hearst into a whirlwind of inno- FOR THE RECORD ______42 cheaper and easier alternative. while he was a mere marketing director at Hearst, he vation—just as the company has become a much EXECUTIVE MOVES ______45 They are snapping up existing wrote the plan for SmartMoney, the personal finance bigger player.

WEEK ON THE WEB ______48 rental or office buildings and con- magazine that the company went on to launch, with Its recently closed acquisition of Lagardère’s glob- See CONDO on Page 41 Mr. Carey as publisher. See CAREY on Page 41 20110627-NEWS--0002,0003-NAT-CCI-CN_-- 6/24/2011 8:41 PM Page 1

COSTAR GROUP INC. IS COMPILING DATA ON THE LARGEST OFFICE LEASING DEALS IN Manhattan during first-half 2011, ranked by square footage.The list of top transactions will C be published in Crain’s July 18 issue. Brokers and others with details on transactions that may qualify for the list should call Marcie Wallis at (866) 398-9381 or e-mail [email protected] by Wednesday, June 29.

IN BRIEF

THREE MANHATTAN COMMERCIAL DISTRICTS RANK AMONG THE NATION’S TOP 10 IN TERMS of how primed they are for green, eco-friendly development, according to an index just published by Cushman & Wakefield Inc. In Cushman’s Green Building Opportunity Index for 2011, midtown placed second, up from third last year. Meanwhile, midtown south took fourth-place honors—up from 15th—and HEADED TO OFF-BROADWAY: downtown held steady at seventh. First-place Million Dollar Quartet is one of honors went to San Francisco. “New York is several transplants from the really setting an example,” said Theddi Wright Great White Way. Chappell, a Cushman senior managing director. AN UPSTART RESIDENTIAL BROKERAGE THAT DONATES A CHUNK OF ITS PROFITS TO CHARITY

has been named the exclusive leasing agent for marcus joan Carlton Management, a property manager that oversees 30 buildings and a total of 2,000 units in the city. Rubicon Property will also become the preferred brokerage for Carlton’s condo and Off-Broadway’s competition co-op properties. When Brothers Jason and Cory Haber launched Rubicon last year, they said they’d donate a portion of its profits to a nonprofit called Charity: Water, which funds from B’way-branded babies drinking-water projects in developing nations. Ⅲ

Stages.The formerly long-running Rent is BY THE NUMBERS Two more hits to open in commercial runs making a comeback in the same complex this summer, and Million Dollar Quartet,

Play Dead’s producers decided to close the which just closed on Broadway, is reopen-

Weekly shift of the city’s economy BY MIRIAM KREININ SOUCCAR show on July 24—without recouping their ing at New World in July. SOLID OVERCAST There was no sign of sunshine investment. Though some producers say the glitzy as retail sales dipped for the first time in 11 Play Dead, an off-Broadway comic thriller “The Broadway musicals that are open- transplants are shining a spotlight on off- months, existing home sales hit a six-month low and the Fed cut its growth forecasts. co-written and directed by Teller (of illu- ing up off-Broadway now are already es- Broadway,many worry that they will mus- sion and comedy act Penn and Teller), was tablished brands,”said Cheryl Wiesenfeld, cle out traditional off-Broadway offerings, an instant hit when it opened right before producer of Play Dead. “It is hard for us to such as Play Dead. 11.7% $3.79 8.5M Halloween. But getting attention for the compete with them.” “There’s a direct correlation that when BRONX JOBLESS PRICE of a gallon VIEWING show became harder this spring as Broad- there is more Broadway product out there, RATE in May (city’s of gas in NYC as of AUDIENCE for the way heated up with a record number of Once unimaginable commercial off-Broadway shows suffer,” highest), versus June 20, down Stanley Cup final, new productions. The once-unimaginable trend of pro- said Ken Davenport,producer of Miss Abi- 12.4% a year 6.9% in six weeks the biggest since And if that competition wasn’t enough, ducers transferring shows off-Broadway gail’s Guide to Dating, Mating and Mar- earlier Source: Energy 1973 Play Dead faced more Broadway hits, in- began with Avenue Q’s move two years ago riage.“The extension of Broadway product Source: NYS Dept. of Information Source: Nielsen Co. Labor Administration cluding Rent, opening on its own turf. As from the Great White Way to a 499-seat to off-Broadway is pushing the original a result, despite a number of great reviews, space at the five-theater New World See OFF-BROADWAY’S WOE on Page 43 HEATING UP Prices are rising faster in New York and northern New Jersey. Consumer price index data show that the acceleration began in earnest in February. 3.0% % change year-over-year 2.4% For cable-TV networks, respect c 1.8% 2.90% 1.2% Some observers say the upfront illus- 0.6% In an industry first, ad trates how well all of television is doing,de- 0 ’10 ’11 sales match broadcast, spite the threats to its business model J J A OS N D J F M A M posed by ad-skipping DVRs and the Web. Source: Bureau of Labor Statistics which is hardly suffering Advertisers continue to find TV the best outlet for reaching large audiences, and ADDICTED TO NUMBERS? they’re using broadcast and cable in com- GET A DAILY DOSE AT @STATSANDTHECITY BY MATTHEW FLAMM bination to reach their targets. “The upfront has historically been CORRECTION Cable television isn’t the poor cousin in the broadcast-centric, with money flowing The Building Contractors Association and the Contractors’ media family anymore. Marking a mile- PIECE OF HISTORY: American Pickers is a popular hit. into cable after the broadcast business is Association of Greater New York are two of many groups with stone, cable networks have booked as done,” said media economist Jack Myers, which labor unions are in talks for new contracts. This was not much from advertisers for the coming sea- chairman of Media Advisory Group. stated clearly in the May 30 story “Crane test could tip balance in labor contract negotiations.” son—about $9.2 billion—as their broad- ble’s top 10, with History a solid No. 3. “Now it’s a single marketplace, and cable is cast network rivals have, it was reported In truth, both broadcasters and cable looked at as an equal.” vol. xxvii, nos. 26, 27 june 27-july 10, 2011—Crain’s New York Busi- last week. networks have reason to celebrate. For one ness (issn 8756-789x) is published weekly, except for double issues the The coveted category weeks of July Fourth, Labor Day and Christmas, by Crain Commu- Cable executives were gloating, and thing, they are often corporate siblings, as nications Inc., 711 Third Ave., New York, NY 10017. Periodicals postage noted that their take in the annual negoti- in the case of Comcast’s NBC and suite of The growing number of cable options paid at New York, N.Y., and additional mailing offices. Postmaster: ating period, known as the upfront, was up channels that includes USA and E! has helped keep advertisers coming back to Send address changes to: Crain’s New York Business, Circulation Department, 1155 Gratiot Avenue, Detroit, MI 48207-2912. for sub- 15% from a year ago. Helping to drive that Broadcasters also did well on their own television,despite broadcast’s ratings trou- scriber service: Call (888) 909-9111. Fax (313) 446-6777.$3.00 a growth were hits on a range of networks, in the upfront, posting an increase in the bles, Mr. Myers added. According to copy, $59.79 one year, $109.79 two years. (GST No. 13676-0444-RT) ©Entire contents copyright 2011 by Crain Communications Inc. including American Pickers and Pawn Stars mid- to high-single digits—a nice bump Nielsen, the combined ratings for the four All rights reserved. on the History Channel and Top Chef on considering the continued erosion of their big networks fell 9% in the September- Bravo. The two channels now rank in ca- viewership. through-May season among adults aged

2 | Crain’s New York Business | June 27, 2011 t

joan marcus comes with numbers comeswithnumbers 20110627-NEWS--0002,0003-NAT-CCI-CN_-- 6/24/20118:41PMPage2 meets minimania Cupcake craze advertising executiveMelissa advertising yearsago by former ed abouttwo Start- and“tie-dye.” crispy” as “rice comeinunusualflavors such which three cupcakes, paper-lessfilled arestaurant consultant. Spiegel, saidArlene business,” dessert miniatures or selling inthecupcake marketers. for iscost-effective cast’s rates,cable abouthalfofbroad-much of cable adrateson With higher ratings. shows thatare gettinghigherand original as largerchannelsfeaturing smaller niche networks aswell clude in- Itsofferings reach withcable. extendingtheir connect toit,they’re paymore to andadvertiser shrinks butastheiraudience more viewers, third. dience inthatgroup hasgrown bya au- thecable thepastdecade, Over provided by Turner Broadcasting. accordingtofigures old category, were up3% in the18-to49-year- the pastdecade. bymore thanathirdovershrunk Thataudiencehas advertisers. favored by thecategory 18 to49, Bigger margins the tinybitesare much lower. overallcostsfor least doublethat, isat andwhileastandardsize $1, minisatabout price Most bakeries profitable: they’re highly time, Atthesame counting customers. appealtocalorie- they cupcake, ofoneregular thesize to athird toits lineup.dessert “petites” added alineof recently EvenStarbucks cakes. standardcup- alsosell Harlem, and er EastSide Tonnie’s Minisin ontheLow- Sunshine Sweet Sugar others,including gle-bite novelties; offernothingbutthesin- Melissa, asaquarter.sometimes assmall miniature cupcakes— by offering Yorkers abigdoseoftinydessert are around givingNew thecity eries Bak- thecupcakes! shrunk Honey,I BY ADRIANNEPASQUARELLI baked goods bite-sized treasure making Retailers find Baked byMelissacharges$3for isabetterprofit margin “There “Broadcast andthetopcable “Broadcast stillattractfar Broadcasters networks cable Meanwhile, minisare afourth roughly Since suchasBakedby shops, A few ob ore.Thenetworks are to beworried. chief medianegotiating officer. Media’s Horizon Aaron Cohen, said breakout hitonbroadcast,” make itharderforthere tobea say.observers pressure networks, onthebroadcast more shows—and original more miliar withthenegotiations. accordingtoanexecutivefa- teens, posted rategainsinthelow tomid- bothofwhich sister network E!, asNBCUniversal’ssuch and Bravo was theflow tochannels ofdollars One highlightofthelatestupfront Broadcast notworried tisers alsoneedtheinfantry.” adver- “But Myerssaid. Mr. senal,” networks are thebiggunsinar- usGue-reBkr,onEast Lu’s Gluten-Free Bakery, wholastyearopened Tu- Lewis, Tully events. andcharity parties customers prefer teensytreats for now hasfourManhattanlocations. It inthepastyear. garment district Grand Central Terminal andinthe company hasopenedstores near the café, of thewindow ofaSoHo whohawkedherwares out Bushell, Broadcast executives claim not executives claim Broadcast audience The splintering “will More mean adrevenues will gettingbigger.Cable isonly Many owners are findingthat cupcakes for$3. miniature three offers Baked by Melissa PETIT THREE: us suchas runs, andfrom re- tied tobroadcasters, buyfrom they studios gramming works getad revenuesfrom pro- net- thecable For instance, benefit. to the Web fortheirentertainment. were tocutthecordandgostraight large numbersofyounger viewers wouldbeinjeopardyif revenues, onsubscription relieswhich heavily have more hits. networks will cable meanthe necessarily ing more shows doesn’t point outthatproduc- Executivesalso ming. invested inprogram- be can have—which networksalways cable asthe operators—just from fees cable scriber nowcollecting sub- to get a dozen minisatadiscount- to getadozen is$3.15—mostpeopleopt cupcake vidual minisfor$1.25—astandard sellsindi- Lewis Ms. riety.Though selectava- buyerscan need because saidtheitemssuitthat 11th Street, ed price of$14. ed price for presents whenpeopledon’t Can’t decide? Try all12flavors Can’t decide?Try ih o,tog,bothsides though, Right now, model, thecable In addition, “The dozen packs are packs popular dozen “The CSI from CBSand COOKING: Bravo’s

do that.” placeto is theonly that broadcast now notthecase and Lifetime.“It’s History include whose channels of adsalesforA&ENetworks, executive vicepresident Berning, said Mel quickly,” diences] very thatitcouldreach [bigau- always pie. the advertising continue togetmore will of cable Law &Order cupcakes thananyotheritem.” cupcakes “We makemore mini said. Lewis Ms. from,” tochoose everyone there are alotofdifferent flavorsfor as know someone’s preferences, order an assortment ofminisfor order anassortment saidmanypeople enue forsixyears, Av- aretailoperated spotonLenox year-old has which Tonnie’s Minis, Top Chef “The benefit of broadcast was benefitofbroadcast “The isthat One thingthat’s certain iial,Tonnie Rozierof15- Similarly, has an enthusiastic audience. has anenthusiastic Ⅲ from NBCUniversal. e WESonPage43 See SWEETS

nbc getty images June business NY’s Cranes: operators strike at riskifunion $10B inprojects dustrywide ones.The unions,whose ones.The dustrywide ual projects outsidetheofficial in- made dealswithowners onindivid- have althoughthey nancial crisis, thefi- after construction jump-start other laborers reached tohelp to thecost-savingagreements that than otherstocompromise. aslesswilling in thebuildingworld fromseen agroupgivebacks widely economy isjustthetimetoextract sensingthatadown Engineers, UnionofOperating International 14and15ofthe inonLocals zeroed current testing process. onthe haveastranglehold which age concessionsfrom theunions, asanattempttolever- pict thecall laborleadersde- increase safety.But maintainingthatitwould erators, op- tional licensingexamforcrane toadoptana- pushed forthecity Two unions’stranglehold Two haveargued. they Trade Centersiteover three years, at the could save$67million World earn asmuch as$700,000ayear claim, they chanics andoilerswho, me- Doing awaywith “no-work” little work. contendinvolve they compensatedpositionsthat highly toeliminate paigned aggressively opers whopaythemhavecam- engineersand thedevel- operating whohirecontractors theunionized the deadline, tract Thursday’s con- toahalt. activity ofbuilding worth ing $10billion concrete—bring- rather thansteelgirdersandslabsof signs neers couldbehoistingpicket engi- operating But byweek’s end, siteshumming. keeps construction that and otherheavymachinery backhoes thecranes, operate They BY DANIEL MASSEY 27, 2011 2011 27, The two unionsdidnotsignon The two has industry The construction Managers andowners havealso In the run-up to In therun-up | Crain’s New York Business e RNSonPage44 See CRANES $98 operators for towercrane and benefits HOURLY salary | 3 buck ennis 20110627-NEWS--0004-NAT-CCI-CN_-- 6/24/2011 8:06 PM Page 1

A corporate watchdog’s bark IN THE MARKETS has companies growling back by Aaron Elstein

Behind the growing practices by a nearly 3-to-1 margin. taken a harder line toward pay.“The But the episode illustrated the difference now,” he said,“is that pay clout of Institutional growing clout of Institutional is voted on at every company,and it’s In Belgium, trickle-down economics Shareholder Services Shareholder Services, an outfit that an issue most companies in the past wields considerable power in board- preferred to avoid.” n the sadly underrated room circles,even though most peo- But there are limits to the influ- 2008 movie , BY AARON ELSTEIN ple have never heard of it. ence of ISS and its chief competitor In Bruges Based in the Washington sub- in the proxy-advisory field, San IRalph Fiennes plays an This past spring, a small advisory urbs and owned by Manhattan- Francisco-based Glass Lewis. ISS Irish mob boss who sends a firm sharply criticized the $20 mil- based financial data company recommended that investors vote no couple of lackeys to the lion compensation package that J.P. MSCI, Institutional Shareholder on say-on-pay resolutions at 12% of Morgan Chase awarded CEO Jamie Services advises nearly 3,000 mutu- companies this year. As the corpo- exquisite Belgian burg to chill Dimon last year.His pay appeared to al funds and other big investors on rate annual meeting season winds for a while after botching a be “completely discretionary” rather down, however, shareholders have murder. “It’s just a shame it’s than based on Mr. Dimon’s meeting done so less than 2% of the time.The in Belgium, really,” Mr. financial targets and “raises concern Say-on-pay only New York-area company about pay-for-performance align- whose pay practices were voted Fiennes’ character says. “But ment,” the firm said. It urged J.P. is by far the down this year wasn’t a Wall Street then, you think, if it wasn’t in Morgan investors to send a message major issue firm but a defense contractor, New Belgium, if it was somewhere by voting against the bank’s pay Jersey-based Curtiss-Wright. good, there’d be too many practices at its annual meeting,a tool But there are other ways to gauge included in last year’s Dodd-Frank the efficacy of the say-on-pay cru- people coming to see it, it’d financial reform law. sade. By merely recommending that spoil the whole thing.”

Even though the law doesn’t force investors oppose a resolution and of- Well, the folks who run istock photo companies to listen to their share- matters presented for shareholders’ fering a few well-chosen words why holders, J.P. Morgan fought back vote.Over the past few years,ISS re- they should, ISS can force compa- Belgium think it’s quite nice, dank u, and last week they came hard. It took the unusual step of fir- search showing executive pay be- nies to act.After the firm came down to New York to pitch their country as a fine place to do ing off a letter to shareholders six coming increasingly disconnected on General Electric this spring, the business. A conference room overlooking Times Square was days before the May annual meeting from performance at certain compa- conglomerate instituted new per- filled with the nation’s great and good, including His Royal in which it argued that Mr. Dimon nies has made it unpopular among formance targets on option grants was worth every cent thanks to his some business leaders. for CEO Jeffrey Immelt. Highness Prince Philippe, the consul general for New York and “long-term vision” (the company “They’re very influential, and When ISS criticized Walt Dis- underlined those words), and it de- that’s the problem,” said Tim Bartl, ney earlier this year, the company a vice chairman of BNP Paribas Fortis, here,but the perk isn’t terribly differ- fended its compensation decisions as a senior vice president at the Center said it would no longer provide Belgium’s largest bank. It was a fas- ent from the tax incentives that New “disciplined but not formulaic” (that on Executive Compensation, a lob- CEO Robert Iger and other top ex- cinating exercise in watching a Eu- Jersey offers Wall Street institutions phrase was rendered in bold type). bying firm that seeks to blunt ISS. ecutives with “gross-ups”—paying ropean country put its best face for- to lure them across the Hudson. The counteroffensive worked. ISS Executive Director Patrick the taxes associated with executive ward at a time when markets are (Ireland, by the way, offers a cor- Investors endorsed the bank’s pay McGurn denies that his firm has See WATCHDOG on Page 44 feeling somewhat phlegm-ish. porate tax rate of just 12.5%.The wis- The dignitaries reminded the au- dom of that is debatable, given the dience of about 30 people that Bel- Emerald Island’s vast financial woes.) gium is home to the headquarters of Anyway, the Belgians spent so the European Union and NATO, as well much time talking about tax avoid- as many a big bank’s back offices. It’s ance that they evidently forgot to a short trip to Europe’s other finan- mention their country’s real draw— cial centers. And it has what officials its gobs of tasty varieties of beer in called a “harmonized” unemploy- corked bottles and unquestioned ment rate of 8.4%. But the heart of mastery of steamed mussels with the message boiled down to this: French fries dipped in mayonnaise. Come to Belgium, and we’ll help And when employees aren’t en- your business minimize its taxes. joying all that brown ale, odds are Don’t be fooled by Belgium’s they’ll be working in comfortable nominal corporate tax rate of 34%, quarters.Eileen Dignen,a managing higher than Germany’s or Britain’s. director at financial technology firm The effective rate can be brought Swift, observed that while the com- down to nearly 25% thanks to some- pany’s New York office is “lovely,”its thing called the “notional interest de- headquarters in a Brussels suburb duction.” It’s too involved to explain called La Hulpe is “even lovelier.” An $800 million tax spat for ex-partners CIT Group and Tyco International split CIT, a big lender to small business- nine years ago after a brief corporate es,in 2001 for $9.2 billion.It was one union, but the parties continue to of the last big deals struck by former fight over the family jewels. CEO Dennis Kozlowski, the man most Last week, CIT sued Tyco, argu- famous for spending $6,000 of ing that its former owner has no right shareholders’ money on a shower to its $800 million in potential tax curtain and who is in prison for loot- benefits. If Tyco were to get its mitts ing his company. By 2002, Tyco was on them, it could “undermine” CIT, in financial trouble and spun off CIT which emerged from a bankruptcy in in an initial public offering. early 2010. The tax benefits are net That seemingly ended the com- operating losses that could be used panies’connection—until last week, for many years to offset income and with the CIT suit. It appears to be lower the annual tax bill of whichev- the first complication in CIT’s hith- er company holds them. erto glitch-free reorganization after A little history: Tyco acquired its 38-day fling with bankruptcy. Ⅲ

THE AMOUNT OF EXTRA TIME that top bank executives plan to spend 25%on regulatory and government issues compared with before the crisis, according to a report last week from McKinsey & Co.

4 | Crain’s New York Business | June 27, 2011 Project1:fp template.qxd 6/21/11 12:01 PM Page 1

SHELLEY BOVERO Owner of Marin County Arborists

Shelley Bovero, owner of Marin County Arborists, knows trees. She also knows Verizon technology helps her small business run more efficiently. Whether she’s giving real-time estimates on her tablet or using her smartphone to connect with her crew on-site, she’s more responsive than the competition.

Cutting-edge devices, unrivaled support, and the fastest, most advanced 4G network in America. No wonder more small businesses choose Verizon Wireless than any other wireless carrier.*

Business Apps

TO GET THE BEST TECHNOLOGY FOR YOUR BUSINESS, 1.800.VZW.4BIZ(4249) SEE A SMALL BUSINESS SPECIALIST AT A VERIZON STORE TODAY. verizonwireless.com/smallbusiness

*Results based on third-party study. 4G LTE is available in 55 metros & 70 major airports in the U.S.; coverage maps at vzw.com. LTE is a trademark of ETSI. Network details & coverage maps at vzw.com. © 2011 Verizon Wireless. D7081A 20110627-NEWS--0006-NAT-CCI-CN_-- 6/24/2011 12:48 PM Page 1

SOME OF US NEW YORK,NEW YORK WOULD RATHER edited by Valerie Block BE AT WORK. Discount site’s tastier name illage Vines is not even a year V old, but the online restaurant discounter has already revamped. Last week, the company changed its name to Savored, trying to UPDATED: Benjamin emphasize its focus on pricey dining McKean (left) and Dan Leahy renamed spots that cater to rich folk. ¶ The move their discount site. is meant to distance Savored from the crowded pack of daily deal sites like Groupon and LivingSocial. “We have never felt like we should be in the discount space,” said co-founder Benjamin McKean. “Our brand is more similar to Gilt City,” which provides high-end offers, he added. ¶ Savored still gives customers a deal: For a $10 fee, diners can make a reservation at a participating restaurant and get 30% off the check. ¶ Since the rebranding, Savored has reeled in some new customers, including The Capital Grille in Manhattan and Jean-Louis, an award-winning eatery in Greenwich, Conn. It also has a partnership with Zagat Survey, which links its reviews to Savored-listed restaurants. ¶ Mr. McKean, who founded the company with Dan Leahy, also brought in some new investors. Michael Lazerow, founder of Golf.com and Buddy Media, is forking over cash and lending his social media savvy. In December, Hearst Interactive Media came on board as an investor.The extra funds have helped Savored expand to nine cities outside of New York. —lisa fickenscher

Publisher Barry Surman said the Meals project Forward’s site redesigned site, carrying fewer but starved for funds moves ahead bigger ads, will be a better showcase for clients. He’s looking AND IT SHOWS. Shawn Thorne was the daytime Founded in 1897, The Forward is to move beyond traditional Jewish sous chef at Windows on the finally joining the 21st century. advertisers. World in 2001. He left a few The weekly English-language —matthew flamm Building upon its 25 year history as the most trusted name in New months before the terrorist paper that was once the nation’s York business, Crain’s is giving readers the opportunity to tell us why attacks to use his culinary skills to premier Yiddish daily has just their company is the best place to work. Nominations are now open help New Yorkers living with relaunched its website, adding new Red-carpet for this annual New York City honor, recognizing outstanding AIDS/HIV. As director of food columnists like The Nation’s Eric treatment employers in the ve boroughs. Companies will be proled in Crain’s and site services for the 25-year- Alterman, new blogs and content New York Business and honored at an event in the fall of 2011. old Momentum Project, Mr. channels—and daily coverage. Red carpets are often rolled out Thorne prepares what he calls “We had a very well-designed for A-list celebrities like Julia Does your company allow you to: “home cooking with an ethnic website, but it basically changed Roberts. It’s a rarity to find such twist.” Run by VillageCare since once a week,” said Forward Editor glamour side by side with racks of • Work with a stellar group of people? 2008, Momentum has served Jane Eisner. toilet paper and toothpaste. • Do what you enjoy? about 1 million free meals to The move to daily news is On July 5, however, the carpet • Explore new opportunities for growth? thousands of poor HIV-positive expected to attract more readers is coming out for none other than • Follow your own path? New Yorkers. Duane Reade. In a first for the But Mr.Thorne, 40, drugstore chain, a private cocktail may see his kitchen party, complete with a crimson destroyed once again— rug, will mark the launch of the Tell us why your company is so great by nominating this time by budget two-story 40 Wall St. location. itas one of New York City’s Best Places to Work at cuts. Last year, City Clearly, nearby spots on 45 Pine Hall tried to halve St. and 80 Maiden Lane never www.bestplacestoworkNYC.com funding for the received such royal treatment. Human Resource Perhaps the 23,300-square- Administration’s HIV foot store’s placement inside the nutrition program, Trump Building is cause for which is serviced solely celebration. Indeed, the company by Momentum.The City Council and advertisers. It could also help said the store will become the restored those cuts.This year, the Forward.com compete with flagship of the chain’s more than administration wants to cut the online rivals like Tablet Magazine, 250 outposts and will offer some program’s entire $982,000 in which recently landed the high- extraordinary features. Specifics funding. profile blog of journalist Jeffrey were not revealed, but Joe Without city funding—70% of Goldberg, luring him away from Magnacca, president of Duane Momentum’s financing—it is The Atlantic’s website. Reade, will be on hand that day. “extremely likely” Momentum will Run as a nonprofit and financed Fortunately for invitees who’d close, a VillageCare spokesman primarily from its endowment, The rather dress down in the summer, said.The nonprofit already has laid Forward gets about a quarter of its the event is business casual, not off some staff and closed four meal nearly $8 million in operating black-tie. In another plus, anyone sites. Now more than 30 jobs are at revenue from advertising and who forgets their lipstick can risk—including Mr.Thorne’s. newspaper circulation, according to pluck one right off the shelves. —barbara benson its most recent filing. Associate —adrianne pasquarelli

6 | Crain’s New York Business | June 27, 2011 Project3:fp template.qxd6/21/1112:09PMPage1

©2011 Consolidated Edison Company of New York, Inc. Ad: Arnell Group ﬁnd 100 efficiency… improve energy ceiling fans can in summer the isto... keep your home cool way to an efficient b. leave your a/c on allthetimeb. leaveyoura/c soit sun’s the heat a. closeshadesordrapes tokeepout evenwhenit’s hotout c. leavewindowsopenforabreeze, doesn’t havetocoolawarm house c. in both summerand winter c. inboth winter b. inthe summer a. inthe + energy conEd.com tips at answer: c answer: answer: a answer: electricity use? electricity will which of these recommended what is the a/c thermostat? setting for your d. keepingbulbsandﬁxtures clean c. removing lampshades insteadoflightingawholeroom b. focusinglightwhere it’s needed dimmersormotionsensors a. replacing lightswitcheswith not answer: b answer: d. 60° c. 72° b. 78° a. 80° reduce your answer: c answer: 20110627-NEWS--0008-NAT-CCI-CN_-- 6/24/2011 7:42 PM Page 1

exclusive right to pick up street passengers. Prices have dropped more than 10% only twice, Mr. LEGISLATIVE SESSIONFinal scores THE INSIDER Murstein said: during the oil crisis of the 1970s and after Sept. 11, 2001. WINNERS The Taxi and Limousine Andrew Cuomo: The governor reached the verge of by Jeremy Smerd and Shane Dixon Kavanaugh Commission has heard it before. A executing the trifecta he set out to achieve: ethics reform, a study prepared for the auction of property-tax cap and marriage equality. As Republicans 900 medallions between 2004 and dragged out the session, blame for any failure would fall 2007 suggested that increasing the squarely on the Legislature. number of cabs on the streets by 7.5% Cuomo Environmentalists: They won would lower the value of medallions legislation to replace the expired Article Potholes ahead for by 3%. Instead, corporate medallion X, which is intended to equitably site new power plants, prices soared 66% over the period. including wind farms. They persuaded legislators to pass a Today there are 13,237 measure—over the objections of Consolidated Edison— medallion values? medallions.The mayor’s plan allowing consumers to repay loans for energy-efficiency envisions 1,500 more—an 11% projects via their electric bills. New restrictions on large- increase.The taxi industry claims scale water withdrawals and “complete streets” legislation he yellow taxi industry has warned that Mayor borough cabs will wander into the city are legislative victories that will help Mr. Cuomo build Michael Bloomberg and steal fares.The TLC says better momentum as he seeks to close Indian Point. ’s plan to license 30,000 regulation of liveries is good for taxis. Mayor Michael Bloomberg: After months of coming liveries to pick up street hails outside Manhattan “If anything, we expect the increased enforcement against up empty in Albany, Mr. Bloomberg scored the city a would erode the value of cabbies’ medallions. $1 billion revenue boost with a tentative agreement to pass If that were to happen, it would be a rarity. poaching to have a positive impact on medallion values,” said Taxi his outer-borough taxi plan. The new cabs will bring the “It’s been one of the best investments to own,” said Andrew Commissioner David Yassky. livery industry out from the shadows. T James Alesi and Roy McDonald: By coming out for gay Murstein, president of Medallion Financial Corp. “It’s outperformed gold, real estate. My grandfather bought them Bloomberg marriage, the two Republican state senators have endeared Landlords’ themselves to gay political donors, whose deep pockets are for $10 each in the 1930s.” likely to protect the senators should they face Conservative Party retribution. Today, corporate medallions sell for nearly $1 million each— seven-year itch representing an average annual increase of The rent-regulation deal that state LOSERS 16% over the past 74 years. Individual legislators hashed out would raise Landlords: Despite years of stuffing Republican senators’ campaign the vacancy decontrol threshold to coffers, the landlord lobby was unable to stop the Legislature from agreeing medallions hit a record high of $2,500 from $2,000, adding about to raise to $2,500 the rent at which vacant apartments can be placed on the $665,000 in May, four months seven years to the time landlords open market. The deal—still being tinkered with at press time—would also after Mr. Bloomberg must wait to get apartments make it harder for landlords to raise rents by making capital improvements. announced his onto the free market. The real estate industry was hardly united this session, as the Real Estate A unit that rented for $2,000 plan. Board of New York focused on a renewal of 421-a tax abatements and got it. in September 2004 would have But REBNY failed to get a bill passed that would have allowed landlords to But Mr. crossed the $2,500 threshold only repay J-51 tax abatements, addressing a court ruling. Murstein this year, given the latest increase Yellow taxis: Cabbies appeared to have suffered a rare defeat in failing to predicts a 25% of 2.25% decreed by the Rent stop a plan they argued would diminish the value of their medallions. The bloomberg news Guidelines Board. drop in medallions’ industry’s last-minute hiring of lobbyist and former U.S. Sen. Alfonse Landlords can accelerate rents by D’Amato was not enough to overcome their weakness in Albany. value should cabbies lose the making qualified improvements to Prevailing-wage supporters: A bill to guarantee prevailing wages to service workers at public utilities never made it out of the Labor Committee in the Democrat-controlled Assembly. A three-year wage freeze negotiated between Mr. Cuomo and the largest state-worker’s union suggests that the governor is deaf to the concerns of fiscal liberals. bloomberg news

individual units or entire buildings, climate change. Mr. Colgrove said a but the new agreement would make drop in natural gas prices was a that more difficult as well. disincentive to drill, and legal Too late for Tony Assemblyman Nick Perry said that former Rep. Anthony Weiner could have benefited from the counseling his bill will provide New York children if they transmit illicit pictures across state lines. bloomberg news “Even adults involved in sexting restrictions would cut further into are not adequately informed of the profits. “No matter what passes, the legal consequences of sending DEC regulations would be so certain types of material,” said Mr. restrictive that no one would do it.” Perry, D-Brooklyn, whose sexting bill passed both chambers last week and will head to the governor’s desk. Day 1 drama One lobbyist was shocked by Madelyn Wils’ quotes in The New YOUR BIG EVENT DESERVES AN AUDIENCE. Is fracking dead? York Times on her first day as head LET CRAIN'S HELP YOU FILL THE SEATS. State officials have yet to decide the of the Hudson River Park Trust. future of hydrofracking upstate, but Ms. Wils said that the new one sees the writing on the wall. mission of the park’s Friends group Crain's EVENTS CALENDAR has been completely redesigned to help you “Fracking is dead,” said Michael is “to do the bidding of the trust,” effectively find the right audience for your next big event. This interactive, Colgrove, New York City director of and that Friends members “led the user-friendly destination was created to help you, the event manager, get oversight at the New York State public to believe that they are Energy Research and Development fundraising for the park, but the maximum exposure for your event and ultimately, sell more tickets. Authority. park has gotten very few funds.” He made the comment to The lobbyist said, “No doubt, she activists after a summit last week on ruffled a few feathers on day one.” Ⅲ To see all the new features and post your next event, go to www.crainsnewyork.com/events For daily political and government news, subscribe to CRAIN’S INSIDER @ www.crainsnewyork.com/insider

8 | Crain’s New York Business | June 27, 2011 CN014465 6/14/11 4:34 PM Page 1

Save up to $10,000 on SBA fees (up to 1% of loan amount) on select loans.2 Chase is proud to be the nation’s #1 SBA lender,3 and right now we’re offering big savings on new SBA loans and lines of credit. Plus, we’ve made an even bigger commitment this year - we’ll lend $12 billion to small businesses in 2011. But hurry, this fee-waiver offer ends August 31.

See a Business Banker at your Chase branch today.

1. Applicable to SBA Express loans up to $150,000. Not applicable if multiple SBA loans are approved or have been approved within the last 90 days totaling more than $150,000.

2. Chase business checking account required to be eligible for fee waiver offer. Offer not available with any other promotions. Application must be submitted by August 31, 2011 and booked by November 30, 2011. Stated Maturity Lines of Credit, Renewable Lines of Credit, and Chase Auto Finance SBA loans are not eligible for this offer. Fee waiver will be credited at the time of closing of SBA loan or line of credit. Minimum loan amount is $10,000. Term of SBA loan or line of credit must be greater than 36 months. Chase origination and other fees may apply, and may vary based on the type and term of the loan. For SBA 504 loans, this offer only applies to closing costs, including appraisal and environmental fees, but not attorneys fees, related to Chase’s senior/permanent loan and shall be limited to lesser of one percent of Chase’s senior/permanent loan up to $10,000 or the actual amount of the closing costs. All extensions of credit are subject to credit approval by JPMorgan Chase Bank, N.A.

3. Based on number of approved SBA loans from 10/1/10 through 3/31/11, as reported by the U.S. Small Business Association.

VIEWPOINT Focus on your job, Mr. Liu editor in chief Rance Crain publisher, vp Jill R. Kaplan new wave of criminal charges last week was just one example of the real-world consequences of me- EDITORIAL stemming from the Bloomberg first behavior. His habit of ordering up staff reports that editor Xana Antunes managing editor Glenn Coleman administration’s $700 million CityTime defend the pay and benefits of his political benefactors, the deputy managing editors Valerie Block, project raises more troubling questions unionized city workers, doesn’t help New York’s bottom line. Erik Ipsen assistant managing editor Erik Engquist about the city’s oversight of outside The comptroller should focus on his job, not his future senior producer, projects Kira Bindrim contractors.The administration says that prospects and his labor pals, to help the city deal with the senior producer, news Elisabeth Butler Cordova contributing editor its Department of Investigation stopped CityTime boondoggle and all other fiscal matters. Elaine Pofeldt the scam.That doesn’t inspire us with confidence. columnists Greg David, Michael Gross, Alair Townsend We don’t know how many tens of millions of taxpayer pulse editor Barbara Benson A Theresa Agovino, dollars were stolen or how much of it the authorities will be senior reporters See, not that hard Aaron Elstein, Lisa Fickenscher, able to identify and recover. We don’t know how long the Matthew Flamm, Miriam Kreinin Souccar fraud went undetected, or if its discovery was inevitable or The state law governing the siting of new power plants reporters Amanda Fung, Shane Dixon Kavanaugh, Daniel Massey, Adrianne Pasquarelli, a fluke. expired in January 2003, leaving projects to navigate a Jeremy Smerd No one has been more lengthy and expensive approval process.That slowed plant art director Steven Krupinski The comptroller deputy art directors Carolyn McClain, critical of cost overruns construction to a crawl, even as New Yorkers’ electricity Daniel Mednick must put for the CityTime payroll consumption grew, and compelled us to continue buying staff photographer Buck Ennis copy desk chief Wendy Zuckerman professionalism system than John Liu, the power from old, inefficient generating stations. copy editor Thaddeus Rutkowski city comptroller. But Despite the obvious need to replace the expired law, research editor Dana Gordon assistant research editor Suzanne Panara above politics while he deserves credit known as Article X, the state Legislature and three different research assistant Suzanne Bernard for that—being a governors failed to do so for more than eight years. research intern Jonas Altman-Kurosaki editorial interns Irvin Ibarguen, watchdog is one of his Yet, the Cuomo administration proved last week that all it Eliza Ronalds-Hannon, Jermaine Taylor, Ian Thomas

duties—Mr. Liu creates took to pass a new law was a little groundwork and a few EDITORIAL AND ADVERTISING OFFICES the impression that he sees the scandal as an opportunity to weeks of negotiating with the Assembly, the Senate and 711 Third Ave., New York, NY 10017-5806 score political points.That damages his ability to work with stakeholders.The political calculus wasn’t complicated: All editorial: 212.210.0277 Fax 212.210.0799 advertising: 212.210.0259 other officials to fix the problems. parties agreed to include language guaranteeing that new Cable craincom nyk When the comptroller got wind that a key CityTime plants would not exacerbate the pollution burden borne Fax 212.210.0499 consultant had been fired, he hastily called a press conference disproportionately by minority communities, as well as to Entire contents ©copyright 2011 Crain Communications Inc. All rights reserved. and made comments that apparently compromised federal marry the bill to a piece of legislation allowing property ®CityBusiness is a registered trademark of MCP prosecutors’ investigation. At least two of the suspects have owners to repay loans for energy-efficiency improvements Inc., used under license agreement. fled to India. U.S. Attorney Preet Bharara rebuked Mr. Liu, via their electric bills. TO SUBSCRIBE: Call 888.909.9111; fax 313.446.6777. who insists he did nothing wrong. It was another example showing that Albany can function $3.00 a copy, $59.79 one year, $109.79 two years. Mr. Liu, who has mayoral aspirations, must put quite well when it wants to. May it prove to be the rule www.crainsnewyork.com professionalism before politics. His press conference snafu rather than the exception. ADVERTISING AND MARKETING advertising director Trish Henry senior account managers Courtney McCombs, Sheryl Rose, Suzanne Wilson sales manager, classified print & online John Gallagher CRAIN’S ONLINE POLL COMMENTS sales coordinator, print & online Lulé Haznedari newsletter product manager SHOULD THE NYPD Alexis Sinclair credit Todd J. Masura 313.446.6097 FORCE OUT OFFICERS marketing director Amy Crossman Labor builds its defense assistant marketing manager WHO USE HEARING Sabra Harrison FOLLOW THE MONEY we should somehow work at that level of pay? director, audience development AIDS? —paul collins jr. Michael O’Connor I’m amazed by Greg David’s June 6 column, President and business manager senior audience development manager Tarek Cotran Date of poll: June 20 “Construction’s costly unions.” He fails to Sheet Metal Workers Union Local 137 174 votes mention those who make the most money in director of e-commerce strategy the industry—developers—and instead picks ENOUGH IS ENOUGH Kristi Serrano No. If officers on the construction workers. It’s as if he thinks web developer, interactive

can pass . 77% Chris O’Donnell their hearing buildings somehow build themselves. New York’s unionized construction workers tests with Mr. David made it sound as if a New York have been bending over backwards for the last NEW YORK PRODUCTION aids, they City carpenter’s wage is $75 an hour.The truth half decade, with giveback after giveback. My production and pre-press director

should stay is, after deducting health care, pension and union, the carpenters union, took a 20% wage Michael Corsi on duty. 23%. training costs, and other benefits a carpenter cut on market-rate housing and a 40% cut on advertising production manager may receive, the real wage is probably $35 to affordable-housing work in the outer boroughs. Suzanne Fleischman Wies $40 an hour. Now, how does that compare with We’ve been making concessions to the PUBLISHED BY CRAIN COMMUNICATIONS INC. what the CEO of a real estate development millionaire contractors we work for and the chairman Keith E. Crain Yes. Cops company or the top executives of a real estate billionaires who own the buildings we build, in president Rance Crain need sharp investment trust make? the face of threats that we’d be replaced by secretary Merrilee Crain senses to keep When I received my Social Security annual $8-an-hour, off-the-book workers employed by treasurer Mary Kay Crain themselves, statement last year, I decided to add up my nonunion contractors. Enough is enough! It’s executive vp, operations William Morrow their senior vp, group publisher Gloria Scoby colleagues lifetime earnings, including my 20 years as a not “shared sacrifice” when the millionaires and group vp, technology, circulation, and the public “union boss.” From 1973 to 2009, it totaled billionaires don’t give up anything. manufacturing Robert C. Adams safe. $2,589,309. Keep in mind: That’s 36 years’ —gregory a. butler vice president/production & worth of pay. Compare that to today’s pay for a manufacturing David Kamis chief information officer Paul Dalpiaz CEO for just one year. CRAIN’S WELCOMES SUBMISSIONS to its opinion founder G.D. Crain Jr. (1885-1973) newscom As for Mr. David’s comment that pages. Send letters to [email protected]. For this week’s questions: Go to construction costs are higher in New York than Send columns of 475 words or fewer to chairman Mrs. G.D. Crain Jr. (1911-1996) www.crainsnewyork.com/poll to have your say. in Boston, I would sarcastically say they are also [email protected]. Please include the writer’s higher here than in Mexico. Is he suggesting name, company, address and telephone number.

10 | Crain’s New York Business | June 27, 2011 20110627-NEWS--0011-NAT-CCI-CN_-- 6/24/2011 2:53 PM Page 1

OPINION

causes in the next three budgets before he faced the voters again. The work has just The economy may indeed get better and tax revenues may grow, but that won’t offset the impact of what is happening in Washington. begun for Cuomo No matter whether the Republi- cans’ plan to deal with the nation’s soaring debt—$14 trillion and ris- hat is Gov. Andrew Cuomo going to do for ing quickly—or the Democrats’ ap- an encore? It’s actually a serious question. proach triumphs, less federal mon- And his second act is likely to be just as hard, ey is coming to New York. That spells another squeeze on educa- or harder, than the first one. tion, and transportation and other Assuming that the compromises reached infrastructure projects. The gradual survive the Legislature’s late histrionics, the governor deserves rollout of federal health care reform W looms as another trouble spot. enormous credit for accomplishing so much of what he promised Cutting more state aid to schools in his campaign about the budget and taxes and the economy. and localities outside New York City will be difficult because the He closed a $10 billion ful, though not disas- property tax cap is going to put pres- budget gap without rais- trous, either. He has sure on budgets.The city will be hit ing taxes or using finan- proposed a major pen- especially hard by whatever federal cial sleight-of-hand,and sion reform that could reductions are coming. slowed the increase in save the city and state The only solution will be to radi- government spending. tens of billions of dol- cally reinvent government, and on His Medicaid reforms lars over the next three that, the early Cuomo record is dis- could be far-reaching. decades, although pas- appointing.A commission to look at His property tax cap sage is uncertain. relieving schools and local govern- will restrain spending The governor’s big ments of costly mandates has pro- growth by local govern- GREG problem is that he’s go- duced virtually nothing. A private- ments, too. He forced ing to face more tough sector group called Sage, tasked by approval of ethics reform DAVID decisions in the next the governor with finding big sav- for state government. two years. This is not ings in government, is a bust so far. He is winning conces- what he had hoped for. The unhappy fact is simply that sions from public workers. His game plan was clearly to tackle the radical surgery that will be re- Not everything is perfect. The all the big issues early in his admin- quired to further reduce the cost of ethics rules could be much tougher. istration,and take whatever political government will be even tougher There’s no sign of nonpartisan re- pain there would be up front. Then than the problems the governor tack- districting, although he could use an improving economy would allow led this year. Preserving the accom- his veto to force it later in the year. him to increase spending on educa- plishments of the first year may de- The rent regulation deal is not help- tion and health and other popular pend on his ability to manage it.

$67 million from federal, state and local sources. And recognizing that How SUNY helps a growing biotech industry would require trained workers, SUNY Downstate formed the New York Bioscience & Biotechnology Tech- the city’s economy nician Program, providing state-of- the-art training. Top performers in the four-week workshop are placed BY DAVID WRIGHT in paid internships with industry- leading employers and researchers; hen New York became an economic power, nearly half have led to full-time jobs. nothing mattered more than location. To- These are just some ways that the day, competition is global, and innovation city’s innovation economy benefits from SUNY, whose role may some- holds the key to our economic future. times go unrecognized in a market- Access to raw materials and markets was place dominated by private institu- once everything.Now,it is knowledge—to create products,serv- tions and the City University.A new W study by the University at Albany’s ices and industries;to make workers more productive;to help so- Rockefeller Institute of Govern- ciety work better. It is increasingly up to higher-education ment and the University at Buffalo’s Regional Institute pegs the annual institutions such as the State Univer- employment.Together,these efforts economic impact of SUNY cam- sity of New York to take leading roles have helped a mainstay of the city’s puses in the city as at least $1.9 bil- in economic development efforts, economy stay fresh and competitive. lion—nearly $6 for every state dol- providing the knowledge needed to Other SUNY campuses in New lar invested. SUNY’s statewide produce and staff the high-paying York City have focused on cutting- impact was calculated as at least jobs in the innovation economy. edge technologies. SUNY Down- $19.8 billion as of 2008-09. Take the garment industry. Cus- state Medical Center developed an The longer-range benefits are tomized training from SUNY’s incubator to foster biotech startups, even more considerable. As Gov. Fashion Institute of Technology offering young companies space and Andrew Cuomo has said, his ad- enables large companies to improve access to scientists, students and ministration’s regional economic efficiencies and helps professionals equipment. Faculty and students development efforts must be “high- extend skills in merchandising, also benefit from the opportunities er-ed driven.” And that will make marketing and design. And SUNY- to work on entrepreneurial projects. the path to economic innovation FIT helps train the next generation To provide maturing biotech even clearer in New York. of fashion industry leaders through firms with room to flourish, SUNY partnerships with more than 4,000 Downstate created BioBAT, a half- David Wright is director of urban and company sponsors and more than million square feet of flexible space metropolitan studies at the Nelson A. 5,200 active internships, about one- for biotechnology firms at the Rockefeller Institute of Government at third of them leading to offers of Brooklyn Army Terminal, fueled by the University at Albany, SUNY.

June 27, 2011 | Crain’s New York Business | 11 20110627-NEWS--0012-NAT-CCI-CN_-- 6/23/2011 8:26 PM Page 1

NEIGHBORHOOD JOURNAL East NY becomes green model

borhood’s aged sewers, triggering facilities, the DEP hopes to stop the To date, the City pilot program discharges of odoriferous, untreated rainwater by using the oldest form of agency has com- uses thirsty plants wastewater into the placid waters of green technology.It is planting trees pleted 13 pilot proj- nearby Jamaica Bay. and creating gardens and a wetland ects in Brooklyn to curb storm runoff In recent months, however, that to lap up the water in an area that has and Queens neigh- chronic problem has become East many more vacant lots and old fac- borhoods that feed BY TOMMY FERNANDEZ New York’s opportunity. The city’s tories than green spaces. into the Jamaica Department of Environmental Pro- “The DEP is moving forward ag- Bay watershed. ain is no laughing mat- tection has selected the area as a gressively with cutting-edge green Three of those are ter in East New York. model for an experiment that seeks infrastructure projects that capture in East New York. SOAKING UP RAINWATER: Plantings of trees and gardens. Deluges periodically to tackle the problem on the cheap. and treat storm-water runoff at the City Council- overburden the south- Instead of relying solely on hugely source,” said Cas Holloway, the man Charles Bar- east Brooklyn neigh- expensive new sewers and treatment DEP commissioner, in a statement. ron couldn’t be more excited about the initiative.“Green projects are es- R sential for bringing 21st-century jobs to East New York,” he said. He and others have encouraged residents to apply for grants—up to $3 million worth in 2011—for Your growing everything from the construction of porous pavement to the installation of rain barrels. Officials are already international business working on grant plans for 2012. In many respects, area residents are way ahead of City Hall in going needs a global bank green. For years, the Cypress Hill Local Development Corp. has run environmentally focused initiatives that can support it. in East New York, including energy- efficiency retrofits of local homes and efforts to turn vacant lots into gardens and parks. Two other local groups—the Active Citizen Project and Slow Food NYC—work with local students,teaching them about urban farming and healthy eating. Supplying fresh produce One of the biggest of such efforts is 13-year-old East New York Farms, which relies on 60 community and backyard gardeners, five upstate farmers and more than 30 interns to supply the neighborhood with fresh produce via two local farmers markets. The neighborhood is also home to the city’s largest residential solar- panel installation, an 80,500-watt photovoltaic system on the roof of the 176-unit Dumont Green affordable-housing complex. East New York Farms Director Sarita Daftary says the neighborhood embraced green concepts years ago out of necessity,to address issues such as poverty,pollution and lack of regular access to medical care. “People often think that a low- Your business will evolve as it grows internationally. With HSBC’s on-the-ground network of income community would be less 3,700 trade specialists, we have access to local market knowledge in over 60 countries and interested in greening and sustain- territories. Our expertise in global payments, trade, receivables, ﬁnance and foreign exchange ability. But our community, and means no one is better placed to open doors internationally for you than HSBC. ones like ours, need to be the most And with HSBC’s global network, it enables both sides of any cross-border transactions to be concerned,” Ms. Daftary says. handled by us—making it faster, more reliable and cost effective. No wonder, then, that the DEP’s East New York projects have been We’ve been helping build businesses around the globe for 140 years. warmly greeted.On the surface,they seem simple enough—two en- Talk to one of our experts today. hanced tree pits and a wetland—but Go to us.hsbc.com/trade, visit your local branch or call 866.909.1267. each is a mini-work of green art.The 20-foot-long tree pits, each costing up to $40,000,are filled with designer absorbent materials, on top of which sit thirsty tree species such as black gum.Each pit can absorb more than 1,000 gallons of rainwater. Meanwhile, a $275,000 wetland next to the Spring Creek MTA Bus Depot features an 18,000-square- United States persons (including entities) are subject to U.S. taxation on their worldwide income and may be subject to tax and other ﬁling obligations with respect to foot drainage area with a meadow their U.S. and non-U.S. accounts. U.S. persons should consult a tax adviser for more information. and a shallow basin for gathering wa- HSBC Bank USA, N.A. Member FDIC, Equal Credit Opportunity Lender. ter. Topping it off are nearly 30 dif- ©2011 HSBC Bank USA, N.A. ferent plant species.The wetland can absorb 21,000 gallons of water. Ⅲ

12 | Crain’s New York Business | June 27, 2011 CN014454 6/10/11 12:47 PM Page 1

The Android-powered phone for those in the business of taking care of business. Introducing the Motorola XPRT ™ Worldphone from Sprint. With an array of business forms, enhanced security features, plus a touchscreen, QWERTY keypad and Android™ OS, it’s the ultimate phone for getting the job done—on the go and around the world. Only from Sprint.

$ 99 sprint.com/smallbiz 129. Limited time: Motorola XPRT 1-8-SPRINTBIZ Available to corporate-liable accounts. May require a two-year Agreement per line. 1-877-746-8249 For your business. Or visit any Sprint Store.

May require up to a $36 activation fee/line, credit approval and deposit. Up to a $200 early termination fee/line applies. Offer ends 9/10/11 or while supplies last. Taxes and service charges are excluded. No cash back. Available to corporate-liable accounts only. Requires activation at the time of purchase. Upgrade: Existing customers in good standing with service on the same device for more than 22 consecutive months currently activated on a service plan of $39.99 or higher may be eligible. See in-store rebate form or sprint.com/upgrade for details. International coverage available on CDMA (EV-DO Rev. A) and GSM/UMTS (HSPA) networks. Additional carrier fees may be required. Other Terms: Coverage is not available everywhere. The Nationwide Sprint Network reaches over 278 million people. The Sprint 4G Network reaches over 70 markets and counting, on select devices. The Sprint 3G Network reaches over 274 million people. See sprint.com for details. Offers are not available in all markets/retail locations or for all phones/networks. Pricing, offer terms, fees and features may vary for existing customers not eligible for upgrade. Other restrictions apply. See store or sprint.com for details. Android, Google and other marks are trademarks of Google Inc. 20110627-NEWS--0014-NAT-CCI-CN_-- 6/23/2011 8:23 PM Page 1

The Durst Organization REAL ESTATE Deals Plus

Would like to thank the following fi rms for their dedication and Owners growing signifi cant contributions to the successful formation of a joint more confident venture partnership with the Port Authority of New York & BY TOMMY FERNANDEZ New Jersey for he vacancy rate in Manhattan Class A office space dropped to 10.8% in June.That is down a One World Trade Center full percentage point from a year ago, according Tto data compiled by broker Cassidy Turley. In another, somewhat counterintuitive sign of a Anchin, Block & Anchin stronger market, the number of Class A buildings with no Cushman & Wakefi eld, Inc. vacancies whatsoever dropped as well—to 42 from 48.The DLA Piper LLP decrease was confined to midtown, where seven buildings took down Genova, Burns & Giantomasi the “No Vacancy” sign in the past year,cutting the fully occupied Class Jones Lang LaSalle Americas, Inc. A total to 23 in the area. Patterson Belknap Webb & Tyler LLP So what’s going on here? Robert Sammons, Cassidy’s vice Rosenberg & Estis, P.C. president of research, reckons the Schulte Roth & Zabel answer is that the stronger market is emboldening landlords to hold back Stroock & Stroock & Lavan on their more desirable properties in the hope that they will be rewarded with higher rents. “Landlords are looking to see exactly how far up they can push the taking terms,” Mr. Sammons said. “They already see a good number of tenants in the market competing for important blocks of space.” The picture for the market as a whole mirrored the situation at the 422 are full up, compared with a total top end. Among buildings of all classes, of 433 a year ago.

more work to find suitable spaces. Mr Youth doubles “The supply is extremely tight,” office size Mr. Farmakis said. Positioning itself to ride the next dot-com boom in New York, social Mortgage broker marketing agency Mr Youth has gets room to grow signed a five-year sublease for 27,000 square feet at 225 Park Ave. Mortgage banker and broker South, doubling the size of its office. GuardHill Financial Corp. has Mr Youth, which is currently lo- signed a 10-year lease for 16,400 cated at Chelsea Market, will move square feet at 140 E. 45th St., a build- into the new space this summer. It ing owned by Boston Properties Inc. was represented in the deal by Nick GuardHill Financial was repre- Farmakis and Jason Perla sented by Scott Panzer and of Studley Inc., while Howard Hersch of Jones sublandlord Internation- Lang LaSalle, while the al Masters Publishers was landlord was represented represented by Tim Gib- by William Cohen and son and Bill Levitsky of Matthew Leon of New- Cushman & Wakefield mark Knight Frank. The Inc. The asking rent was asking rent at the tower, in the $50s per square which is also known as 2 foot. Grand Central Tower,was The new space is dou- in the $60s per square foot. ble that of the firm’s old Mr. Panzer said that location in Chelsea Mar- GuardHill, which is one ket and offers a number of of New York’s largest advantages. It is a loft 140 E. 45th St. high-end mortgage bro- with windows on all four kers,needed a new location sides.It is also close to Union Square. to allow for growth. He noted that In fact, the space had so many the tenant had set its sights on find- perks, Mr Youth had to jump ing a customizable space at a presti- through a number of hoops to prove gious location in a property owned by itself to the sublandlord. For exam- an institutional-quality landlord. ple,the firm had to provide an exten- The space at 140 E. 45th St., sive operating history and client list which is nearly 40% larger than to prove that it was not a credit risk. GuardHill’s old space, fit the bill Such tests have become com- nicely. Many amenities were already monplace with the rebound of the built into the core of the building, in- city’s new media companies and the cluding an executive washroom, and demand they’ve made for creative, great midtown views. The space also www.durst.org loft-like locations, said Mr. Far- offered an open floor plan for Guard- makis. As a result, it now takes a lot Hill’s brokers. Ⅲ CN014459 6/10/11 5:15 PM Page 1

When an employee from a large furniture manufacturer developed recurring wrist pain, our Workers Compensation experts teamed with his doctor to quickly assess the situation. We discovered that changing the layout of his workspace would avoid painful surgery and allow him to continue working while he healed. Our regional medical directors, 24-hour claim response teams and loss control experts work together with you and your broker to develop effective solutions that help you keep employees safer and get them back to work. That’s our policy. For more information, contact your broker or agent or visit libertymutualgroup.com/workerscomp.

WORKERS COMPENSATION | COMMERCIAL AUTO LIABILITY | PROPERTY 20110627-NEWS--0016-NAT-CCI-CN_-- 6/23/2011 7:04 PM Page 1

SMALL BUSINESS Macy’s ‘retail M.B.A.’ for minorities

That’s why Ms. Clarke was demand a Macy’s supplier needs to Its workshop helps diverse vendors learn thrilled to be selected as one of 22 address,” Ms. Clarke said. what it takes to land, keep a large account participants in The Workshop at Though woman- and minority- Macy’s, a vendor-development pro- owned fashion businesses are plen- the Web and through specialty bou- gram for women- and minority- tiful, it’s often difficult for them to BY ANNE FIELD tiques. owned businesses that the chain become vendors to department and She longed to land an account at launched last month. Entrepreneurs specialty stores. nable to find flatter- a major department store for her attended a four-and-a-half-day boot “You have to be of a certain size ing clothing that fit, Manhattan-based company, but camp aimed at teaching them all they to supply not just New York [stores] Monif Clarke started with about $585,000 in annual sales need to know about getting their but [those] across the country,” said a business six years and four employees, Monif C. Plus merchandise onto Macy’s shelves. John Robinson,president and CEO buck ennis ago selling stylish Sizes just did not have the critical “I now understand what’s re- of the New York City-based Na- AHA MOMENT: Seeing how to position her Uplus-size dresses and swimsuits on mass. quired to meet the sheer volume of tional Minority Business Council. merchandise was key for Monif Clarke.

“Yet many minority- and women- owned firms are still in growth mode.” The lack of diverse suppliers poses a problem for stores with a broad customer base, and the need for diversity is especially urgent in New York, where minorities make up a majority of the population. Vendors of different ethnic back- grounds reflect Macy’s shoppers,according to Shawn Outler,group vice president of multicultural merchandising and vendor development. “They understand the customer because they are the customer,” Ms. Outler said. Still work to do Participants still have their work cut out for them to become Macy’s suppliers, according to Ms. Outler. For instance, it can take a year or more to accomplish steps such as establishing an operation capable of making enough goods. Still, Ms. Outler said, attendees leave the program with a “mini- A powerful assortment retail M.B.A.” Sessions include a workshop covering costs in each stage of the production and delivery of treasury solutions cycle, as well as a panel discussion at which a buyer and inventory and regional planning managers explain to sweeten Fran’s success. their needs and concerns. “It’s one of the most innovative ™ vendor-development programs,” Opportunity at every step. said Gary Lampley, president of Black Retail Action Group, a New York advocacy organization. Amber Lee, who runs Kane & From its start in Fran Bigelow’s kitchen to its stature as a growing national business, Fran’s Chocolates has been the Couture, a Manhattan seller of chic dog collars and other canine para- de nition of sweet success. And as Fran’s commercial bank, we’ve been there from the start, helping to keep that phernalia, appreciated the help she received in The Workshop. In one success owing. That includes providing Fran’s with the right treasury management solutions, such as fraud prevention, session, a Babson College professor end-of-day sales ful llment and easy-to-track nancial reporting. All giving Fran’s the cash ef ciency it needs to continue helped her analyze her company’s fi- nancials and use software to develop creating the sweet moments America loves. different scenarios. “It’s something an accountant can do for you, but he’ll charge a lot Learn more about our comprehensive treasury management solutions. of money,” Ms. Lee said. Learning how to position her Call 1.212.796.6947or visit bankofamerica.com/businesssolutions2 merchandise to appeal to Macy’s buyers was a key takeaway for Ms. Clarke.In her final presentation,she pitched her swimwear line rather than her dresses, because it better fit the store’s preferred price point. She said, “The workshop taught me that you have to stop and ask, do you have a product that works with what they need?” Ⅲ “Bank of America Merrill Lynch” is the marketing name for the global banking and global markets businesses of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking af liates of Bank of America Corporation, including Bank of America, N.A., member FDIC. Securities, strategic advisory, and other investment banking activities are performed globally by investment banking af liates of Bank of America Corporation (“Investment Banking Af liates”), including, in the United States, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Merrill Lynch Professional Clearing Corp., all of which are registered broker dealers and members of FINRA and SIPC, To sign up for Crain’s and, in other jurisdictions, by locally registered entities. Investment products offered by Investment Banking Af liates: Are Not FDIC Insured May Lose Value Are Not Bank Guaranteed. ©2011 Bank of America Corporation. ARH2Q421 SMALL BUSINESS newsletter, go to www.crainsnewyork.com/smallbiz.

16 | Crain’s New York Business | June 27, 2011 CN014479 6/21/11 3:34 PM Page 1

Business in New York is looking up

More and more, privately held companies in the New York area are turning to Deloitte Growth Enterprise Services. Why? Because we’re focused on their needs. We deliver trusted-advisor relationships, customized service offerings, tremendous value with every contact — and we deliver it day in and day out. Perhaps it’s time you looked to our local New York team too.

Download the Full Report: Mid-Market Perspectives: 2011 Report on America’s Economic Engine at www.deloitte.com/us/dges/midmarketperspectives

To learn more about Deloitte Growth Enterprise Services contact Greg Durant at +1 212 436 2000 or e-mail us at [email protected]

As used in this document, “Deloitte” means Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Financial Advisory Services LLP, and Deloitte Tax LLP, which are separate subsidiaries of Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.

Copyright © 2011 Deloitte Development LLC. All rights reserved. Member of Deloitte Touche Tohmatsu Limited 36 USC 220506 CN014457 6/10/11 5:10 PM Page 1 © 2011 Consolidated Edison Company of New York, Inc. Ad: UniWorld Group, Inc. Photos: John Pinderhughes Inc. Ad: UniWorld © 2011 Consolidated Edison Company of New York,

Marsha Van Name, President, MVN Associates (construction); Jennifer Jackson, President T&T Janitorial Services, Inc.; Eileen Guzzo, President & CEO, Donnelly & Moore Corporation; Joyce Takiguchi, President & Co-founder, Comstar International, Inc. (eco-friendly chemical manufacturer)

What Ceiling?

Women business owners who partner with the Con Edison Supplier Diversity Program routinely shatter glass ceilings. And any other barriers that get in their way. Whatever the business – from construction to cleaning services – women entrepreneurs throughout the New York region have turned their partnerships with Con Edison into economic opportunity for themselves, their employees and their communities.

Find out how powerful a partnership can be. Con Edison. ON IT.

Visit www.conEd.com/supplierdiversity or call Joy Crichlow, Director, Con Edison Supplier Diversity Program at 212-460-3076. 20110627-NEWS--0019-NAT-CCI-CN_-- 6/23/2011 4:35 PM Page 1

Most 50 INSIDE Profiles of top executives in real estate, finance, Powerful politics, the arts and more Womenoenm PAGES 22-30 Life at the top in tough times Changes to the list: 13 newcomers, many promotions; veterans retire

BY LISA FICKENSCHER

Last year, Mary Ann Tighe not only closed the historic deal that will result in Condé Nast moving to lower Manhattan but also became the first woman to head the influential Real Estate Board of New York. Ms. Tighe—the CEO for the New York tristate region of CB Richard Ellis, the largest commercial real estate brokerage in the city—has risen to the top of Crain’s list of the 50 Most Powerful Women in New York. This elite SISTERHOOD group of achievers lead multi- 141K national WOMEN who left corporations and finance between media en- 1999 and 2009 terprises, Source: Bureau of Labor Statistics top-tier law firms and major cultural institutions. Crain’s published its last Most Powerful Women list in

2009, and much has changed inc. gaynin rick tulka/morgan since then for many of New York’s top female power brokers. A quarter of the women are making their first appear- Leading media into new age ance on the list. Fresh faces include Sandra Lee, budget- recipe queen and New York oversaw the historic rollout in March enue-generator this year, and with state’s first lady; and The New Women come to the rescue at AOL, of a paywall for NYTimes.com her profile higher than ever. York Times’ incoming executive that is already being hailed as a suc- Perhaps no one has been better- editor, Jill Abramson. The Times,Vogue and Newsweek cess. Just over two months later, Jill suited to the rough weather than Meanwhile, a few power- Abramson was named the first fe- Ms.Huffington,60,who started out houses—including Ann Moore, March following the sale of The male executive editor of The New as a syndicated conservative colum- former chairman and CEO of BY MATTHEW FLAMM Huffington Post to the troubled York Times. Managing editor since nist and became a liberal pundit be- Time Inc., and former Deloitte Web giant. Another digital diva, 2003, she will assume the top edito- fore co-founding The Huffington Chairman Sharon Allen—have The digital hurricane of the past two The Daily Beast’s Tina Brown,took rial post at the nation’s foremost Post in 2005. The $315 million ac- retired. Heidi Miller, president years has pummeled many a top me- on the tricky task of reviving news organization in September. quisition of her fast-growing prop- of J.P. Morgan Chase’s interna- dia executive. But several women in Newsweek as its new editor-in- And longtime Vogue Editor-in- erty has catapulted her into yet an- tional business, will step down the industry have found that they’re chief, diving back into print as oth- Chief Anna Wintour has emerged other role: savior of AOL’s content next year. at their best in a storm. ers run from it. from the darkest period in magazine strategy. Cathleen Black left her top Arianna Huffington became At The New York Times Co., history with a re-energized title that In addition to providing access to See JOBS on Page 34 head of AOL’s media business in Chief Executive Janet Robinson will be Condé Nast’s biggest rev- See LEADING MEDIA on Page 32

June 27, 2011 | Crain’s New York Business | 19 20110627-NEWS--0020-NAT-CCI-CN_-- 6/23/2011 7:16 PM Page 1

CRAIN’S 50 MOST POWERFUL WOMEN IN NEW YORK

Alphabetical index & rank 11/’09 EDITOR’S NOTE ’ CONTRIBUTORS SECTION EDITOR Valerie Block Jill Abramson...... 12/— Shelly Lazarus ...... 21/18 ASSISTANT SECTION EDITOR Lisa Fickenscher Linda Addison ...... 37/— Sandra Lee ...... 39/— Embarrassment of SECTION DESIGNER Candace Beinecke...... 18/17 Pamela Liebman ...... 38/38 Carolyn McClain COVER PHOTOGRAPHY riches: city’s women Sheila Birnbaum ...... 23/23 Patricia Lynch...... 49/48 Buck Ennis COPY EDITORS Wendy Pamela Brier ...... 28/26 Deanna Mulligan ...... 31 /— Zuckerman, Thaddeus Rutkowski, NEW YORK IS JUSTIFIABLY VIEWED Michele Arboit as a global center of financial, intellectual Tina Brown ...... 32/— Indra Nooyi ...... 3/4 and creative firepower, and no one exemplifies that image better than the SENIOR PRODUCERS Crain’s Tory Burch...... 48/— Barbara Novick ...... 15/— Kira Bindrim, 50 exceptional women identified by as the city’s most powerful. Elisabeth Butler Cordova Whether they’re running multinational corporations or the city, Amanda Burden...... 34/33 Nancy Peretsman...... 42/30 VIDEO PRODUCER Ian Thomas VIDEOGRAPHER Buck Ennis overseeing thousands of employees or trillions of dollars in assets, or Edith Cooper...... 25/— Ruth Porat ...... 2/27 deciding what the rest of us read, watch and touch, these women indisputably wield a wealth of raw power. Sarah Dahlgren ...... 24/— Christine Quinn...... 10/13 Online video In fact, selecting just 50 from the many women so capably managing Gail Donovan ...... 47/— Jennifer Raab ...... 44/41 on 50 women many of the city’s important businesses, cultural institutions and Mary Callahan Erdoes ...... 11 /— Emily Rafferty ...... 27/25 TO WATCH A VIDEO of government offices was hard, and ranking them was harder still. While Crain’s Most Powerful Crain’s editors certainly took organizational and financial muscle into Katherine Farley ...... 7/8 Janet Robinson ...... 16/10 Women honorees sharing account as we weighed our choices’ relative power, we were also interested Ellen Futter...... 33/32 Judith Rodin ...... 45/42 their perspectives on drive, success and in the ways in which New York’s female power brokers Kirsten Gillibrand ...... 8/20 Virginia Rometty...... 29/29 quieting naysayers, visit are shaping the life of the city and determining its www.crainsnewyork.com/ / future. MaryAnne Gilmartin ...... 35 — Jane Rosenthal...... 30/34 50powerfulwomenvideo The recession and its aftermath have Marcia Goldstein ...... 14 /9 Darcy Stacom...... 50/50 undeniably left their mark. More than a quarter of Bonnie Hammer ...... 13/12 Diana Taylor ...... 43/40 the women featured on our last list, published in ➚ 2009, have left their positions. But perhaps more Patricia Harris ...... 4/2 Mary Ann Tighe...... 1/3 significantly, many other women have emerged at Dorothy Herman ...... 41/39 Merryl Tisch ...... 22/22 the very top of their professions. We salute Arianna Huffington ...... 26/— Diane von Furstenberg ....17/19 them and every one of their sisters-in-arms who are celebrated on Crain’s list of the Andrea Jung ...... 6/7 Susan Wagner ...... 20/6 city’s Most Powerful Women.They make Suri Kasirer...... 46/44 Meredith Whitney...... 36/49 New York a better place. Sallie Krawcheck ...... 5/5 Anna Wintour ...... 19/21 —XANA ANTUNES / / buck ennis Kay Krill ...... 40 37 Kathryn Wylde...... 9 11

Want to STAND OUT from the crowd? Promote your coverage with Crain’s Custom Reprints

What are the benefits of reprints? • Offer a unique opportunity to co-brand your company with a reputable news source • Help underscore your PR efforts by including in press kits and recruitment pieces • Digital reprints boost your news/press web pages and help Reprint Plaque drive traffic to your site

ASK ABOUT OUR REPRINT PRODUCTS: HARD COPY REPRINTS • EPRINTS • PLAQUES BANNERS/BUTTONS • TRADE SHOW COLLATERAL • POSTCARDS

ontac auren Mlsiot21.07 r C L o [email protected] for information on how to turn your Crain’s press coverage into great marketing.

20 | Crain’s New York Business | June 27, 2011 CN014455 6/10/11 3:56 PM Page 1

A NEW WAY TO LISTEN MEANS A NEW WAY TO HELP. Having more ways to reach help sometimes means the difference between fl ying and waiting. That’s why you can fi nd us on Twitter, where we have a dedicated team standing by 24/7 to help you with your travel. Whether it’s checking how weather is affecting your local airport or rebooking if you’ve missed your fl ight, they can give you the assistance you need. Of course, you still have the option of calling, emailing, or speaking with one of our Red Coats at the airport, but if you’re more of a 140 characters kind of person, drop us a tweet @deltaassist.

DELTA.COM 20110627-NEWS--0022-NAT-CCI-CN_-- 6/23/2011 4:37 PM Page 1

CRAIN’S 50 MOST POWERFUL WOMEN IN NEW YORK

#3 has raised more than $221 “Avon Lady” callings into other #10 million since 2002. It has retail categories. It recently focused on planting a million acquired silver jewelry maker Indra trees and fostering youth Silpada Designs and baby- Christine Nooyi employment. products retailer Tiny Tillia, as Quinn —jeremy smerd well as natural-skin-care brand Chairman and chief Liz Earle Beauty. Speaker executive These moves helped New York City PepsiCo Inc. Avon, which turns 125 this Council year, generate revenue of OVER THE PAST two years, Ms. $10.9 billion in 2010, a 6% rise MS. QUINN’S ability to steer— Nooyi’s leadership of the over 2009 levels. However, Ms. or stop—City Council votes second-largest food and Jung does have her share of gives her the power to alter or #1 beverage company in the world problems, including bribery #8 even derail Mayor Michael has been marked by big allegations made against Avon Bloomberg’s agenda. But in the acquisitions. PepsiCo’s in overseas markets—claims Kirsten hope of building a track record Mary Ann revenues grew 33% last year, to that the CEO has been and becoming his heir apparent, $57 billion, after the company investigating internally for the Gillibrand Tighe completed the purchase of its past three years. Chief executive, New two largest bottlers. —adrianne pasquarelli U.S. senator York tristate region Ms. Nooyi, 55, bought a Democrat, N.Y. controlling interest this year in CB Richard Ellis Russia’s largest food and #5 #7 NEW YORK’S junior senator has Inc. beverage business, Wimm-Bill- proved not only that she is a Dann. The deal is meant to Sallie formidable opponent but also CONDÉ NAST’S MOVE to expand the company’s reach Katherine that she has staying power. Last 1 World Trade Center is classic Krawcheck Farley year, Ms. Gillibrand fended off Mary Ann Tighe. The upscale her Democratic challengers and publisher’s longtime broker, President of global Senior managing trounced her Republican and counselor to numerous wealth and investment director rival—spending nearly other high-profile firms, Ms. management Tishman Speyer $14 million to his $2.3 million. Tighe has a history of moving After being appointed to clients into nontraditional Bank of America Chairman the Senate from a conservative neighborhoods, transforming House district in 2009, she the face of Manhattan. This UNDOUBTEDLY one of the most Lincoln Center appealed to minority and liberal 1-million-square-foot deal is influential women on Wall primary voters by sponsoring widely considered a game- Street, Ms. Krawcheck, 46, is AS CHAIRMAN of Lincoln gun-control legislation and, in changer for downtown. closing in on the two-year mark Center, Ms. Farley presides over another reversal, taking a pro- The entire industry has as head of BofA’s wealth unit. the most prestigious board in immigration position. benefited from the 62-year- Under the guidance of the New York’s arts world. Ms. Gillibrand, 44, is the speaker has spent most of old’s wisdom since she became analyst-turned-executive, She has led the $1.2 billion building a résumé of legislative her tenure as the mayor’s ally. the first female head of the Merrill Lynch, the world’s victories as she prepares to run Ms. Quinn, 44, has proved to powerful Real Estate Board of abroad, where it generates 47% most-productive brokerage, for re-election in 2012. They be a disciplined politician. She’s New York 18 months ago. The of its revenues. garnered first-quarter revenues include helping to secure $4.3 courted business support—not lobbying group played a key role Last year, Pepsi lost its rank of $3.5 billion—an 18% billion for Sept. 11 first least by shelving sick-day legis- in banishing the terrorist trials as the country’s second-most- increase over year-earlier levels. responders and championing the lation last year—while remaining from downtown and helped popular soft drink to diet Coke. Ms. Krawcheck’s reputation repeal of “Don’t ask, don’t tell.” a friend of organized labor. elect 86% of the statewide But as Ms. Nooyi continues to for putting her clients and —jeremy smerd She is a top contender to candidates it backed last year. shift her company’s offerings brokers first was solidified become mayor in 2013. Her —theresa agovino toward healthier snacks and through the addition of nearly effort to build a broad base of beverages, the soda wars may 200 financial advisers in the #9 support will face its biggest test not matter so much anymore. first quarter alone, which in the coming months, when —lisa fickenscher increased the ranks of the she must decide whether to back thundering herd to 15,695. Kathryn a controversial living-wage bill. Her next act: expanding ylde WyldeW —jeremy smerd #4 profitability to other divisions as BofA struggles to rebound President and Patricia from its troubled 2008 chief executive #11 purchase of mortgage lender Partnership Harris Countrywide. Mary —suzanne panara for New First deputy mayor She has led the York City alhn CallahanC City of New York $1.2 billion revamp #2 #6 WHETHER SHE’S Erdoes Chairman and chief of Lincoln Center’s defending Wall Chief executive executive Andrea Street, fighting Ruth Porat Bloomberg Family 16-acre campus paid-sick-days J.P. Morgan Foundation Jung legislation or Asset Chief financial officer debating the Management Morgan Stanley A LONGTIME Chairman and chief future of the confidante executive Kingsbridge Armory, THE DIVISION ALONG WITH CEO James of Michael Avon Products Inc. the ubiquitous Ms. of J.P.Morgan Gorman, Ms. Porat is the public Bloomberg’s redevelopment of the performing Wylde is in the middle Chase run by face of Morgan Stanley—where and a behind- AVON HAS THRIVED during Ms. arts complex’s 16-acre campus, of the issues most Ms. Erdoes, she’s worked since 1987—and the-scenes Jung’s dozen years at the helm. which is nearly completed. Now important to the city’s 43, is a giant the most senior woman on power in his The 52-year-old executive is the 61-year-old plans to business community. in its own Wall Street. The former top administration, credited with successfully outsource Lincoln Center’s In the past year, she right. With dealmaker, 53, is now the firm’s Ms. Harris oversees what could expanding the door-to-door expertise: She recently signed was named deputy $1.3 trillion No. 2 exec, explaining its be Mr. Bloomberg’s most beauty company beyond its an agreement under which the chair of the Federal in client results and outlook to analysts. important legacy: his organization will provide Reserve Bank of New assets, it She has the monumental task philanthropy. In addition to consulting services to develop a York and appointed to ranks as the ninth-largest of helping to turn around a managing the public Mayor’s world-class performing arts a special committee money manager on Earth. In bank that’s still trying to regain Fund to Advance New York complex in China. on state judicial addition to supervising its bearings after a near-death City, she was named to the top It’s a region that Ms. Farley compensation.The 17,000 fund managers, private experience in 2008. spot at the multibillion-dollar knows well. In her day job, she 65-year-old also bankers and other staffers Though Morgan Stanley Bloomberg foundation last year. leads real estate firm Tishman played a leadership role as a worldwide, Ms. Erdoes oversees remains an underwriter of Ms. Harris, 56, who is Speyer’s business in China and member of the Committee to Highbridge Capital choice, its trading division isn’t serving in the mayor’s lame- Brazil, overseeing 18 projects Save New York, the business- Management, one of the as profitable as those of some duck term, helped launch NYC and managing $1.3 billion backed group that helped Gov. world’s largest hedge funds. of its rivals. Reflecting Wall Service, which has mobilized worth of investments in those Andrew Cuomo pass one of the A 15-year veteran of J.P. Street’s tough environment, more than 1 million volunteers countries. toughest budgets in years. Morgan, the executive is the firm’s stock price has since 2009. The mayor’s fund —miriam kreinin souccar —daniel massey Continued on Page 24 dropped 23% since Jan. 1, 2010, the day Ms. Porat was promoted to CFO. Power 4 CEOs $73B —aaron elstein Points The of public companies helped their firms reap in combined revenue in 2010 photos: buck ennis

22 | Crain’s New York Business | June 27, 2011 Project3:fp template.qxd 6/22/11 4:39 PM Page 1 20110627-NEWS--0024-NAT-CCI-CN_-- 6/23/2011 4:39 PM Page 1

CRAIN’S 50 MOST POWERFUL WOMEN IN NEW YORK

focused on generating more Mutual and the restructuring of forefront of an industrywide overseas business, particularly American International Group. effort to revive Big Apple advisory services for the Ms. Goldstein was lead fashion. As president of the ultrawealthy. She’s off to a counsel in the $30 billion Council of Fashion Designers promising start. In 2010—her Chapter 11 filing of mall of America, she helped move first full year at the helm— operator General Growth Mercedes-Benz Fashion Week revenues for her unit increased Properties in 2009 and to Lincoln Center from Bryant 13%, to $9 billion, and net negotiated its surprisingly speedy Park, raising its profile, and she income grew 20%. That may be exit from bankruptcy last fall. was instrumental in creating why Ms. Erdoes is one of a She sits on the board of Fashion’s Night Out, a citywide handful of candidates seen as #13 InMotion, a charity that shopping event. She also assisted possible successors to Chairman provides legal services to #16 in funding the Fashion Law and CEO Jamie Dimon. women and children, and co- Institute, recently established at —aaron elstein Bonnie chairs an executive committee Fordham Law School. for the UJA-Federation. Janet One of the first designers to Hammer —hilary potkewitz Robinson set up shop in the meatpacking Chairman district and an early backer of Chief executive the High Line, Ms. von NBC Universal Cable The New York Times Furstenberg was honored earlier Entertainment and Co. this year by the Municipal Art Cable Studios Society for her contributions to STEERING The New York Times the city. PROBABLY the most successful through the darkest period in When she’s not spearheading programmer in television, Ms. newspaper history, Ms. such programs, Ms. von Hammer is one reason Comcast Robinson has spent the past few Furstenberg, 64, is expanding #19 bought NBC Universal. Under years slashing costs, reducing her collection’s footprint: She her watch, USA became the debt and fighting to stem the has 44 boutiques worldwide, 11 Anna No. 1 ad-supported cable loss of print advertising. of which have opened since network—and it has stayed in But lately, the 61-year-old January 2010. She moved beyond Wintour the top spot since 2006, thanks Times Co. veteran has had some apparel into home furnishings Editor-in-chief to WWE and an unbroken good news to report: The in February, and this fall, she string of scripted hits, including paywall that went up around will introduce her first fragrance. Vogue #12 Burn Notice and White Collar. NYTimes.com on March 28 —adrianne pasquarelli She also put SyFy into the top appears to be working. Within A FORCE in the fashion world as Jill five. Together, the two channels weeks, the service had 100,000 much as in magazine raked in more than $2 billion in subscribers; more than 700,000 #18 publishing, Ms. Wintour Abramson revenue in 2010, according to #15 home-delivery subscribers set up brought Vogue through the Managing editor SNL Kagan. digital accounts. The company’s Candace recession with flying colors and Now Ms. Hammer, 60, will Barbara long-suffering stock price got a put an end to rumors about her The New York Times try to work the same magic on bump. And though traffic for Beinecke retirement. E! and G4, the two Comcast- Novick NYTimes.com dropped 14% in MS. ABRAMSON broke through owned channels she took over April, according to comScore, Chair one of media’s most-resistant following her promotion to Vice chairman The Times continues to have the Hughes Hubbard & Ad pages for glass ceilings when she was chairman from president in BlackRock Inc. No. 1 newspaper website. Reed named executive editor of The January. —matthew flamm Vogue jumped Times on June 2. She will —matthew flamm MS. NOVICK has one of the most MS. BEINECKE remains one of become the first woman to lead delicate tasks facing anyone in the few women to head a major 11% from January the nation’s financial services: convincing New York law firm—and a top- through June She is already premier #14 regulators that BlackRock—the ranked one, at that. Hughes newspaper world’s largest money manager, Hubbard was named the No. 1 immersed when she Marcia with $3.5 trillion in investor firm in the city and No. 2 in the paper’s steps into assets—is not too big to fail. nationwide in The American the job in Goldstein Under last year’s financial Lawyer’s 2010 A-List rankings digital September. reform law, institutions deemed of the most Ms. Chair, business finance “systemically important” are successful Newsstand sales rose 5% in challenge Abramson, and restructuring subject to greater regulatory law firms. the second half of 2010, 57, is group scrutiny and must have higher Hughes according to the Audit Bureau already levels of capital in reserve, Hubbard of Circulations. And ad pages involved in Weil Gotshal & which could permanently was selected for Condé Nast’s biggest the major Manges impair profits. in 2008 to moneymaker jumped 11% from issue facing the organization. Ms. Novick, 50, is a #17 handle the January through June compared The managing editor since THE RECESSION has been BlackRock co-founder, as well as $113 billion with a year earlier, according to 2003, she spent six months last Ms. Goldstein’s CEO Laurence Fink’s point Diane von liquidation Publishers Information Bureau. year studying digital integration time to shine. The person to lobby authorities of Lehman The 61-year-old editor of the newsroom, learning 58-year-old in Washington, London Furstenberg Brothers’ broker-dealer, and it has been playing a more about The Times’ online rivals attorney heads and Brussels on this was tapped by the U.S. Treasury public role than ever: She and developing ways for the up one of the crucial issue. “Lobbyist” Chairman Department that year to advise spearheads the annual shopping paper to get the most out of its busiest is one of many hats that and founder on the $700 billion financial extravaganza Fashion’s Night multimedia resources. bankruptcy Ms. Novick has worn Diane von bailout. Out, and she was named an Addressing staffers after the practices in the during her 23 years at the Furstenberg Studio Ms. Beinecke, 64, also serves elective trustee of the announcement of her country—the one firm, where she has overseen as the independent chair of Metropolitan Museum of Art. appointment, Ms. Abramson that’s handling the everything from global business IN ADDITION to expanding her First Eagle Funds, a public That’s also an acknowledgment acknowledged the trailblazing $613 billion Lehman Brothers development and strategy to $200 million label despite mutual funds family with of her remarkable power as a women who made it possible. bankruptcy, the $8 billion marketing and client service. recent economic stresses, Ms. $56 billion under management. fundraiser. —matthew flamm bankruptcy of Washington —aaron elstein von Furstenberg has been at the —hilary potkewitz —matthew flamm

#20 #21 Susan Wagner Shelly Lazarus Vice chairman, BlackRock Inc. Chairman, Ogilvy & Mather Worldwide THE $13.5 BILLION DEAL between BlackRock and Barclays Global Investors is one MS. LAZARUS, 63, has spent the past 14 years as chairman of Ogilvy & of the few mergers of two major financial institutions to live up to its hype. That’s a Mather. During her 40-year tenure at the advertising giant, her signatures testimony to BlackRock co-founder Ms. Wagner, who put the deal together in have been clear branding and building close client relationships. late 2009 and has overseen the integration. The merger made BlackRock the After a rocky 2009—a year in which 5% of the agency’s 18,000 employees biggest money manager on the planet; the $3.5 trillion it handles is were laid off—Ms. Lazarus led an O&M resurgence in 2010. Revenues more than the gross domestic product of Germany. increased 4.7%, to $2.1 billion, from $2.0 billion a year earlier, according to But the deal’s size isn’t the best way to measure its success. Advertising Age. The rebound is credited to new offerings in digital and BlackRock’s net income more than doubled and profit margins market-specific categories, such as Islamic audiences. rose last year; Ms. Wagner, 49, also lined up institutional The firm added new global accounts in 2010, including Kimberly- investors to buy a large number of its shares from Bank of Clark, Coke Zero and Unilever’s corporate brand business; it also launched America. Further evidence of its muscle: BlackRock bought the first worldwide campaign for UPS, another new client. Gap joined the out the rest of BofA’s stake this spring. Ogilvy roster in February 2011. —aaron elstein —gale scott photos: buck ennis, lorenzo agius, nyt, conrad fred times new york Continued on Page 26 24 | Crain’s New York Business | June 27, 2011 CN014301 3/23/11 11:32 AM Page 1

Every organization, from an emerging business to a Fortune 100, shares a common characteristic: potential. The potential of a new market…of an innovative service line…or a product that will change the world.

Realizing potential takes hard work, dedication, and vision. That’s management’s job. It also requires advisors with deep business expertise together with financial know-how. That’s where we come in.

EisnerAmper’s accounting, tax and consulting professionals work with Charles Weinstein, CPA Chief Executive Ocer management to help unlock the potential they see in today’s global 212.949.8700 marketplace. See what’s possible with EisnerAmper. [email protected]

Howard Cohen, CPA Chairman 732.287.1000 [email protected]

www.eisneramper.com

EisnerAmper LLP Accountants & Advisors New York | New Jersey | Pennsylvania | Cayman Islands Independent Member of PKF International 20110627-NEWS--0026-NAT-CCI-CN_-- 6/23/2011 5:08 PM Page 1

CRAIN’S 50 MOST POWERFUL WOMEN IN NEW YORK

#23 Stanley and other too-big-to- investment banking and generated revenues of fail institutions. securities behemoth run. She $30 million in 2010, to AOL Now that last year’s Dodd- became global head of the for $315 million. She took Sheila Frank act has given the New human capital division in 2008, control of all editorial content Birnbaum York Fed even more power, it’s overseeing all functions relating at the combined company, up to Ms. Dahlgren, 47, to use to recruiting, developing and which has a worldwide audience Co-head, mass torts it wisely. She must develop a retaining talent for the firm. of more than 250 million. and insurance team of monitors who have After joining Goldman in Her challenge: to assist litigation group useful connections inside the 1996 to build its energy sales AOL in its transition from banks and at the same time ask group, she quickly rose to the being an Internet service Skadden Arps Slate management and board top, becoming a managing provider to a content-driven Meagher & Flom members tough questions. The director in 1998 and a partner company that derives its income health of the nation’s financial in 2000. Now Ms. Cooper is a from advertising. THE U.S. JUSTICE DEPARTMENT system depends on it. member of the five-person —laura shin #22 just appointed Ms. Birnbaum to —aaron elstein group that dishes out such the weighty role of administering sought-after titles. She also sits Merryl the $2.8 billion September 11th #24 on the firmwide diversity #27 Victim Compensation Fund. committee, and she’s one of Tisch Attorney General Eric Holder only four women on the chose the 71-year-old because of Sarah 32-member management Emily Chancellor her vast experience. She won the Dahlgren committee. Rf affferty New York State trust of many victims’ families in —daniel massey Board of Regents 2009 when she mediated a $500 Head of bank President million settlement between the supervision The Metropolitan SINCE TAKING OVER the airlines and #26 state’s public school system insurance Federal Reserve Museum of Art in 2009, Ms. Tisch, 55, has companies Bank of New York helped New York win and the Arianna WORKING with a $696.6 million in new families of MS. DAHLGREN’S quiet Huffington shrunken budget, federal funding via the Race 92 victims 18-year tenure at the New Ms. Rafferty to the Top. She is now of the York Fed changed #25 Editor-in-chief, shepherded the leading the state’s effort to terrorist dramatically when she was Huffington largest museum review and assess high attacks. named its point person on Edith Post in the nation school graduation standards. Other the American International Media through the A former first-grade game-changing Group rescue in September Cooper recession, teacher, Ms. Tisch manages cases tried by Ms. Birnbaum 2008. Group only to see an annual budget of include the 2003 Supreme She entered even stormier Global head, human it emerge AOL Inc. $56 billion, and oversees Court reversal of a $145 million waters when she was named to capital management stronger 3 million students and punitive-damages award against her current position earlier this than ever. 225,000 teachers. She State Farm Mutual Automobile year. Ms. Dahlgren is now Goldman Sachs IN LESS THAN six years, Ms. Last year, championed landmark bills Insurance as unconstitutionally responsible for the 700 Group Inc. Huffington, 60, went from the Met, to develop a new teacher excessive, reining in jury- examiners keeping an eye on entrepreneur to media mogul. where Ms. and principal evaluation awarded damages. risk levels at J.P.Morgan Chase, MS. COOPER, 49, manages the In February, Ms. Huffington Rafferty has system that uses student —hilary potkewitz Goldman Sachs, Morgan people who make the $46 billion sold her news blog, which Continued on Page 28 data, as well as to raise the state’s charter school cap to 460 from 200. Power 37 7 6 —amanda fung Points women work at for-profit companies and at nonprofits; work in government

MEET CRAIN’S DATE MONDAY, SEPTEMBER 19, 2011 MOST 2011 PLACE 583 PARK AVENUE

TIME POWERFUL 12:00-2:00 PM PURCHASE TICKETS INDIVIDUALS: $299 WOMEN in TABLES OF TEN: $3,000 For tickets, go to NEW YORK CITY www.crainsnewyork.com/events-women

Crain’s New York Business recognizes what it means to command incredible power in this city. On September 19th, Crain’s will honor The 50 Most Powerful Women in New York City–an authoritative list of the most important female leaders running businesses and organizations that drive New York’s economy–at an exclusive lunch- eon. Meet these elite women and join Crain’s For more information about sponsorship opportunities, in commemorating their accomplishments. contact Trish Henry at 212.210.0711 or [email protected]

26 | Crain’s New York Business | June 27, 2011 CN014139 12/10/10 3:34 PM Page 1

The key to attracting and retaining top ﬁnancial talent is here.

Download your FREE 2011 Salary Guide or use our interactive salary calculator at roberthalf.com/SalaryCenter.

Serving you with 21 ofﬁces in the Tri-State Area

1.800.803.8367

CRAIN’S 50 MOST POWERFUL WOMEN IN NEW YORK

worked for 36 years, attracted a The 2-2, a new show just picked Ms. Mulligan was promoted to recently testified before the U.S. 41 million square feet of record 5.2 million visitors; up by CBS. president and chief operating House of Representatives on commercial space. officials expect similar numbers The 54-year-old movie mogul officer in October 2010, and she the importance of science Now that the City Council this year. Its current operating also heads the Tribeca Film becomes CEO effective July 1. education and helped launch has approved her 530-block budget is $220 million. Festival, which recently celebrated —gale scott Urban Advantage: a program rezoning of South Jamaica, Now the 62-year-old its 10th anniversary. It has drawn that improves science education Queens, Ms. Burden, 67, is executive is overseeing plans to more than 2.5 million attendees for middle-school students by turning her attention to the create a branch of the Met at and generated over $650 million #32 training their teachers and lower Manhattan waterfront the Whitney Museum of in economic activity for the city bringing the pupils into the and the East River Esplanade. American Art’s former building since it began in 2002. Last year, museum for special events. —shane dixon kavanaugh on Madison Avenue. Mr. De Niro and Ms. Rosenthal Tina At the same time, Ms. Ms. Rafferty is also announced the launch of Brown Futter—who headed Barnard chairwoman of NYC & #29 distribution company Tribeca College at the young age of Company and a director of the Film, making Tribeca the first Editor-in-chief 32—keeps setting attendance Federal Reserve Bank of New Virgig nia film festival to release movies. records at the museum, which York. —miriam kreinin souccar Newsweek has a $169 million annual —miriam kreinin souccar Rt omet tty and The Daily Beast budget. Last year, roughly 5 million people came through Group executive, MEDIA WAGS sales marketing doubted that the its doors. #28 merger of Ms. —miriam kreinin souccar and strategy Brown’s Daily Pam International Beast news Business Machines site and Brier print Corp. dinosaur President and chief Newsweek executive MS. ROMETTY’S JOB at IBM would be keeps getting bigger, fueling fruitful. Well, Maimonides Medical talk that she is being groomed she’s showing them. Newsweek Center to succeed Big Blue’s chief #31 has already seen an increase of executive, Samuel Palmisano. In 25% in newsstand sales and an MS. BRIER, 65, addition to heading up global Deanna 85% rise in ad pages since Ms. had an sales, Ms. Rometty, 53, took Brown, 57, took over in March. excellent over marketing and strategy for Mulligan Traffic to the Daily Beast 2010. In a the entire company a year ago. jumped 86% in the 12 months year when two It was her second promotion in Chief executive through May, to about 9 million. #35 New York as many years. The Guardian Life Speaking at the New York City hospitals IBM’s revenues grew 4% last Insurance Company Deadline Club Awards last MaryAnneMary filed for year, to $99.9 billion, and pretax of America month, Jane Harman, widow of bankruptcy, income climbed 9%, to a record Sidney Harman, who bought ilmartn GilmartinG her facility $19.7 billion. Newsweek last year, said of the had revenues A techie who holds a degree SINCE JOINING the nation’s venture, “The combination is Executive vice of $997 In a bad year in computer science and fourth-largest mutual life more than the sum of the parts.” president million, up for many electrical engineering, Ms. insurer in 2008 as executive vice Ms. Brown expects the Forest City Ratner 7.5% from Rometty is focusing on IBM’s president of individual life and company to be profitable in the Cos. 2009, and it hospitals, growth in emerging markets, disability, Ms. Mulligan, 47, next two to three years. turned a such as China, Russia and Brazil. has had an impressive run. —suzanne panara profit. Given her facility Such markets account for 21% of Sales of individual A FELLOWSHIP at a city the struggles turned a IBM’s revenues and are expected life insurance policies economic development agency of most other to account for 30% by 2015. jumped by 23% from #33 provided the springboard Brooklyn profit —lisa fickenscher 2008 to 2010, setting for Ms. Gilmartin’s career, hospitals, a company record. which has changed the being in the Sales of dividend- Ellen texture and skyline of New black at a #30 paying whole-life Futter York City. hospital with policies grew by The 47-year-old Queens the borough’s a healthy 15% President native has worked at Forest largest Medicaid population is Jane during the same American Museum City for nearly 17 years significant. Rosenthal period. In another of Natural History and developed properties This year is Maimonides’ sign of Guardian’s #34 totaling more than 5 million centennial. To help mark the Co-founder financial UNDER Ms. square feet, including The occasion, the hospital opened a performance, the Futter’s Amanda New York Times’ headquarters renovated and expanded Tribeca company paid leadership and the new Frank Gehry- obstetrics suite and a cardiac Productions/ whole-life these past 17 Burden designed residential tower ICU, and it is finishing Tribeca dividends of years, the New Chair downtown. renovations on a second cancer Enterprises $740 million to York museum Her toughest assignment center. policyholders in has become New York City has been overseeing the Maimonides, which REPRESENTING the 2011, the largest one of the Planning controversial $4.9 billion delivered 8,000 babies in 2010, business side of Robert such payout in city’s most- Commission Atlantic Yards project. In a has the state’s second-lowest De Niro’s film empire, its history. visited testament to her savvy rate for cesarean births. It loses Ms. Rosenthal currently In attractions; it is also a world- IN LESS THAN a decade, negotiating skills, Forest City money on each birth, which boasts three films in recognition class research institution that Ms. Burden has spurred the officially broke ground on the makes its performance on Ms. development, including of the role she grants Ph.D.’s. rezoning of nearly 25% of the project last year, and its focal Brier’s watch all the more Irishman, with director has played Now the 61-year-old former city. By her estimate, those point, the Barclays Center, will remarkable. Martin Scorsese. She is in such lawyer is taking on the national efforts have paved the way for open in fall 2012. —barbara benson executive producer of achievements, crisis in science education. She 57,000 housing units and —theresa agovino

#36 #37 Meredith Whitney Linda Addison Chief executive, Meredith Whitney Advisory Group Partner in charge, New York IT’S BEEN NEARLY FOUR YEARS since Ms. Whitney, now 41, first made her Fulbright & Jaworski reputation as one of Wall Street’s most powerful analysts with her prescient prediction that the U.S. banking industry was headed for disaster. IN ADDITION TO RUNNING the 130-lawyer New York office for Houston- After opening her own firm in 2009, she was among the first to see that the based Fulbright, Ms. Addison, 59, is lead counsel for General Electric as it winds had shifted, recommending shares in Goldman Sachs. Now her shop defends itself against allegations of radiation overexposure caused by its CT has gone global, expanding to analyze new markets and attracting international machines. In 2009, the American Bar Association awarded her the Margaret clients. On the home front, Ms. Whitney’s bearish December pronouncement Brent Women Lawyers of Achievement Award; past recipients include Supreme that states’ finances had grown fragile triggered $40 billion in withdrawals in Court Justices Sandra Day O’Connor and Ruth Bader Ginsburg. municipal bonds over several weeks. She recently made a bold statement on the Blockbuster successes on the trial lawyer’s résumé include representing Mars Inc. in a battle over pet- precarious position of state budgets due to underfunded pensions and other off- food patent infringement, defeating giants Heinz and Del Monte. Ms. Addison also achieved a favorable balance-sheet obligations.Though the predictions drew fire, she stuck to her guns. settlement for the former trustee of the Enron 401(k) benefit plan, in one of the largest ERISA class For those who follow financial services, Ms. Whitney is required reading. actions in history. —gale scott —hilary potkewitz photos: buck ennis Continued on Page 30 28 | Crain’s New York Business | June 27, 2011 Project7:fp template.qxd 5/12/11 5:55 PM Page 1

An appreciated employee is a motivated employee.

Rymax will help you build customer loyalty, drive employee behavior and ignite hidden business potential with successful incentive and corporate gifting solutions.

These brands are available exclusively through Rymax:

...and hundreds more!

ÜÜÜ°ÀÞ>ÝV°VÉVÀ>ÃÊUÊnÈÈnn{ÈÈ 20110627-NEWS--0030-NAT-CCI-CN_-- 6/23/2011 4:43 PM Page 1

CRAIN’S 50 MOST POWERFUL WOMEN IN NEW YORK

#40 #42 action. Ms. Raab, 55, a former 2010, her firm generated approach $450 million this year, chair of the city’s Landmarks revenues of $4.2 million, which a year-over-year jump of about Preservation Commission, has made it the highest-grossing 40%. Tory Burch LLC now Kay Krill Nancy brought in additional revenue lobbying firm in the Big Apple. boasts 13 international boutiques President ertsman PeretsmanP through research grants and In the past year, the Queens as well as 39 U.S. locations, with and chief executive other entrepreneurial strategies, native and former aide to Gov. two more outposts in addition Managing director such as property rentals and Mario Cuomo has helped to the flagship expected to open Ann Inc. Allen & Co. continuing education programs. negotiate the rezoning of before year’s end. She’s also boosted fundraising Brooklyn’s Domino Sugar —adrianne pasquarelli #38 FOR THE PAST THE MEDIA INDUSTRY may not activity. Factory—a $1.4 billion three years, have a more important On the learning front, Ms. project—and win renewal of the Pamela Ms. Krill has dealmaker than Ms. Peretsman, Raab spearheaded the creation of 30% tax credit for the film and #49 been busy who has worked on everything Hunter’s Roosevelt House Public television industries. Liebman righting a from Rupert Murdoch’s Policy Institute last year. This Ms. Kasirer also manages to Patricia Chief executive ship that was in danger of purchase of Dow fall, the college will open the teach her three children, all sinking, and her efforts have Jones to Time CUNY School of Public Health. under the age of 4, to read, Lynch The Corcoran paid off handsomely. Warner’s The largest college in the swim and paint. Group Inc. Ann Inc., the newly spinoff of CUNY system has seen rapid —shane dixon kavanaugh President renamed parent of women’s AOL. So it’s growth since Ms. Raab took Patricia Lynch CORCORAN was among the fashion chains Ann Taylor and no surprise over in 2001. In the past two Associates first brokerages to harness Loft, posted a $73.4 million that when years alone, Hunter’s the power of social media to profit last year, reversing a two- Google offered enrollment has increased by 5%, MS. LYNCH, 53, reach homebuyers. With year slide that resulted in $6 billion for to more than 20,000 students. quickly got back apartment sales reviving last double-digit percentage losses Groupon last year, she was —laura shin and to business after year, Ms. Liebman decided in sales. Net sales for the year there—advising the online jonas altman-kurosaki paying a to ramp up the firm’s use of were up 8%, to $1.98 billion. coupon provider as it turned $500,000 fine tools such as Twitter and To achieve these gains, Ms. down the offer and instead last December mobile applications. Krill cut operating costs, closed raised $950 million in funding. in connection The interconnectivity stores, trimmed the work force The 57-year-old graduate of with former Attorney General helped Corcoran land the and corrected merchandise Princeton and Yale has a long Andrew Cuomo’s pension fund city’s No. 1 residential missteps. Ann Inc., now back in history of working with—and pay-to-play investigations. (She brokerage spot in 2010, with favor with shoppers, currently standing by—entrepreneurs. also agreed not to lobby the sales of $13 billion. It plans employs about 19,400 people— She was a founding shareholder state comptroller’s office to launch a revamped roughly 1,000 more than it did of Priceline and has been on its #47 through 2015.) website later this year. two years ago. board since 1999. Her firm remains the state’s A New York native, Ms. The 56-year-old exec is also —matthew flamm Gail second-highest-grossing Liebman, 48, joined busy with philanthropic lobbyist. In 2010, it posted Corcoran as a newly minted endeavors. Last year, through Donovan revenues of $8.1 million, and it college graduate and has Ann, she helped raise nearly #43 had 154 clients—more than any held the top post since 2000. $6 million for the Breast Cancer Chief operating officer of its competitors statewide.This —amanda fung Research Foundation and St. Jude Continuum Health year, Ms. Lynch has fought to Children’s Research Hospital. Diana Partners pass the marriage-equality bill —adrianne pasquarelli Taylor and cut business taxes. #45 AS THE EXECUTIVE responsible —shane dixon kavanaugh Managing director for the day-to-day operations of #41 Wolfensohn & Co. Judith New York City’s sixth-largest private employer, Ms. Donovan #50 Dorothy IN THE PAST YEAR, Ms. Taylor, Rodin keeps an eye on a staff of 56, has been focused on work in President 15,000-plus workers and Darcy erman HermanH the developing manages an annual budget of world for the The Rockefeller more than $3 billion. StStacom Chief executive investment and Foundation Ms. Donovan, 53, is one of Prudential Douglas advisory firm. the highest-ranking women at Vice chairman Elliman The former state THE FIRST WOMAN to head the hospitals in the city and, CB Richard Ellis Inc. superintendent foundation, Ms. Rodin controls according to the most recent MS. HERMAN has been on a bold of banks has a $3.5 billion endowment that public records, commands a IN THIS TOWN where real estate is expansion campaign since helped establish handed out $136 million in salary of $1.4 million. like a religion, Ms. Stacom is November. At that time, microfinance 2010. In recent years, she has —barbara benson the high priestess, doling out her Prudential Douglas Elliman was institutions in Chifeng, Inner moved the nearly century-old wisdom about the commercial #39 about to complete its most Mongolia, and Manaus, Brazil. institution into the field of sales market. Her counsel helped profitable year since 2003—the But Ms.Taylor, the longtime social innovation, awarding #48 give executives the confidence Sandra year she and a partner bought companion of Mayor Michael grants to organizations that use and comfort level to reopen the the firm.The company had sales Bloomberg, also has an impact methods such as crowdsourcing sales transaction spigot that Lee of $11.5 billion in 2010. It has here as chair of the Hudson and creative competitions to Tory Burch went dry during the recession. Chief executive enlarged its footprint to include River Park Trust and as a board solve global problems. Co-founder and chief She was involved in nine of the Bronx and Westchester by member of Citigroup, Sotheby’s The 67-year-old, who once executive the city’s 10 largest property and editor-in-chief buying smaller shops, including and Brookfield Properties. headed the University of sales last year, including Google’s John Edwards Real Estate and —shane dixon kavanaugh Pennsylvania, is now leading Tory purchase of an Eighth Avenue Sandra Lee Semi- Burch LLC Homemade Inc. Prudential Holmes & Kennedy. initiatives to bolster economic tower for roughly $1.8 billion. Ms. Herman, 55, started her security for American workers, Among the 51-year-old’s MS. LEE may be more popular real estate career on Long establish sustainable- IN THE SEVEN conquests this year was the sale than her powerful boyfriend, Island, where the brokerage has transportation policies, ensure years since she of 750 Seventh Ave. for about Gov. Andrew Cuomo. recently expanded with its access to affordable, high- launched her $820 a square foot, one of the Each month, the celebrity acquisition of Prudential Galeria. quality health care in developing collection, Ms. Burch has gone priciest deals in the city so far. chef, known for her budget- Last month, she set her sights countries and help communities from a designer known mainly During her career, Ms. friendly recipes, reaches 10 overseas, establishing a referral cope with climate change. for her metal-plated ballet flats Stacom and her partner, Bill million viewers who tune in partnership with U.K.-based —daniel massey to a CEO leading a powerful Shanahan, have brokered to her two Food Network Knight Frank Residential. international brand that $50 billion worth of transactions. programs. Her magazine, —amanda fung includes clothing, handbags and —theresa agovino Sandra Lee Semi-Homemade, #46 even eyewear. While other has 300,000 subscribers, and #44 high-end designers have she has sold 4 million copies struggled to attract frugal of her books—including a Jennifer Suri shoppers, Ms. Burch, 45, has memoir about her rise from a Kasirer gained traction with her hardscrabble youth, during Raab Americana styles and which she and her family President trendsetting offerings. lived on food stamps. President Kasirer The company, which is Ms. Lee, 45, leverages her Hunter College Consulting opening a flagship this influence to raise money for September on Madison hunger-related issues. Expect WITH THE CUNY SYSTEM facing MS. KASIRER, 51, is Avenue, raked in sales of her to assume a higher profile severe budget cuts, Hunter’s New York City’s most more than $320 million in in her role as the state’s first fearless leader has sprung into successful lobbyist. In 2010 and is on track to lady. She is said to be clearing her schedule so she can focus on public-service endeavors. Power 4 women work at 3 asset-management businesses that oversee a combined $6.7 trillion —lisa fickenscher Points

30 | Crain’s New York Business | June 27, 2011 CN014480 6/22/11 12:13 PM Page 1 20110627-NEWS--0032-NAT-CCI-CN_-- 6/23/2011 5:09 PM Page 1

CRAIN’S 50 MOST POWERFUL WOMEN IN NEW YORK

attacked the wall—which allows a the recession head-on. She rallied visitor to access 20 articles each luxury retailers, the fashion com- Leading media into new age month for free—both for putting a munity and even Mayor Michael dent in NYTimes.com traffic and Bloomberg to help launch the annu- Continued from Page 19 dia analyst with Miller Tabak. “But print magazine can and can’t do,and for having too many holes. al shopping extravaganza Fashion’s a global audience of more than 250 she definitely brings more brands incorporate those [digital] elements “There are so many exceptions,it Night Out in September 2009. million unique visitors,the deal gave and unique users and [page views], into it,” Ms. Brown said. doesn’t show tremendous confi- The initiative gave store sales an Ms. Huffington the resources to and that’s the name of the game.” The result is still something of a dence in the [concept],” Ms. Huff- immediate boost. It also showcased make long-desired changes: hiring work in progress,but it’s already con- ington said. the editor’s wide-ranging influence more journalists, expanding inter- No Talk, all action necting with readers and advertisers. Some analysts think that the and the continued relevance of nationally and moving into new ar- Ms.Brown—a longtime friend of Newsstand sales, generally regarded model will work and that it’s a nec- Vogue—despite frequent questions eas of coverage. Ms. Huffington’s, coincidentally— as a gauge of a magazine’s health, essary starting point as The Times at that time about the future of print. In return, she has helped CEO also reinvented herself on the Web. have risen 25% since the title was re- seeks additional revenue streams. “The near-death of magazines has Tim Armstrong give AOL’s bland After her last high-profile print launched in March versus the year- “It’s a very positive move for The been greatly exaggerated,” Ms. Win- suite of sites a more distinct identity. venture, Talk magazine, went under earlier level. Ad pages Times long-term,” said tour wrote in an e-mail.“While this “As we got to know each other [at in early 2002, she tried doing a talk have surged 85% dur- Edward Atorino, a was undoubtedly the moment to grow conferences and on panels], I was show on CNBC and wrote a best- ing the same period, ‘We have all the media analyst at The our online presence with Vogue.com, amazed at how much what he want- selling biography of Princess Diana. the company reports. digital energy Benchmark Co. which thrills me, it’s absolutely not ed to do and what I wanted were con- But her comeback began when IAC Ms. Brown said The Times will also at the expense of the magazine.” verging,” Ms. Huffington recalled. head Barry Diller bankrolled the that the title has been and new kinds of be pushing ahead on the Ad revenue for the Condé Nast Since the deal closed, she has 2008 launch of her news and opin- bringing in new ad- evolution of the paper. title was up 16% in the first quarter, slimmed the two companies’ com- ion site The Daily Beast. vertisers every day.But editing and writing’ Ms. Abramson, 57, to $96 million, while ad pages grew bined portfolio to 53 sites from more In November, the Beast merged Newsweek still faces an spent six months last 11%, Publishers Information Bu- than 300 and launched HuffPost with Newsweek,recently acquired by uphill climb in some year looking at how reau reports. Newsstand sales rose Canada. Now she is starting up stereo magnate Sidney Harman, quarters. well-integrated the 5% for the second half of 2010 ver- HuffPost UK and boomer site and Ms. Brown, 57, began working “It looks better,” Web and print news sus the year-earlier period, the Au- Huff/Post 40. More than 100 new on the troubled title’s revival. said Carolyn Dubi, director of print operations are,and visiting the offices dit Bureau of Circulations says. editorial staffers have come on board. “People moan about this time in at media buying giant Initiative. of newer rivals such as The Huffin- Vogue.com, which launched last The Huffington Post drew 36 mil- the media, but I think it’s really ex- “But it’s still a news magazine.” She gton Post. Concluding that her staff September, had reached 1.3 million lion unique visitors in May,50% over citing,” she said.“Old categories are is taking a wait-and-see approach to wasn’t so well-integrated after all,she unique visitors by May,according to year-earlier levels, comScore says. breaking down everywhere.” increasing client investment. worked up a plan to “have one news- Omniture. Whether Ms. Huffington can Ms. Brown created a single At The New York Times, circula- room,” she said, with section editors Ms. Wintour’s own enhanced turn the tide of AOL’s declining for- newsroom for the two properties, tion and total revenue for the paper directly involved in the Web product. presence put to rest rumors that she tunes is another issue. Revenue fell and brought some Daily Beast fea- have fallen for the past three years; would be replaced. It has also had a 17% and profits 86% in the first tures to Newsweek. The magazine earnings plunged 58% in the first Posting big draws on the Web “halo effect on the brand,” suggest- quarter,as a 4% improvement in dis- has helped her attract even more quarter. But the risky bet on a pay- The idea is to “make sure that when ed George Janson, director of print play advertising failed to make up name writers, including historian wall for online content made by Ms. we do a killer multimedia presentation, at media buying agency Group M. for double-digit percentage drops in Simon Schama; Peter Boyer, a for- Robinson,61,seems to be paying off. they’re thinking about when it should “She transcends publishing,” he search ad and dial-up subscription mer writer for The New Yorker; and Within weeks of the paywall’s go up on the Web to attract the most added.“She influences what’s sold at revenues. However, some analysts blogger Andrew Sullivan. March 28 launch,100,000 new sub- people,”Ms.Abramson said,adding Neiman Marcus and Bergdorf. You believe that the marriage is working. “We have all the digital energy scribers had signed up.By mid-May, that she’ll be tackling “new frontiers” can’t say that about many editors.” “[Ms.Huffington] may be some- and new kinds of editing and writ- 728,000 home delivery subscribers in the digital arena in September. The digital hurricane shows no what controversial because she’s lib- ing that we’ve been experimenting had digital accounts. Ms.Wintour, 61, who has edited signs of abating,but these women are eral-leaning,”said David Joyce,a me- with, and we can figure out what a Critics like Ms.Huffington have Vogue since 1988, met the crisis of standing their ground. Ⅲ

REQUEST FOR PROPOSALS. JOIN CRAIN’S UNIQUE OPPORTUNITY FOR TRANSIT ORIENTED DEVELOPMENT. ADVISORY MTA Metro-North Railroad, acting through the Metropolitan Transportation Authority, is seeking proposals from developers to establish a dynamic mixed-use development PANEL at the Metro-North Harrison Station. The site is approximately 3.2 acres adjacent to the station in the heart of Harrison in Westchester County, New York. All proposals will be publicly disclosed in the agenda for the meeting of the MTA Board at which the transaction will be considered for approval. All contacts relating to the Request for Proposals must be made through the individuals who are designated as “Points of Contact” in the Request for Proposals. Contact with anyone else at the MTA relating to the Request for Proposals may be a violation of the law and may result in disqualiﬁ cation. To download the RFP: mta.info/mta/realestate/retail_leasing.html Looking for readers to share For questions regarding the RFP, or to register to participate, contact views and opinions. Joseph Chan, MTA, 341 Madison Ave., 15th fl., New York, NY 10017, 212-878-7316. For questions regarding this project or the Harrison site, contact Greg Sylvester, Metro-North Railroad, 347 Madison Ave., 11th fl., New York, NY 10017, 212-340-4914. It’s Happening In Harrison Sign up for FREE today. www.crainsnewyork.com/advisory

CRAIN’S NEW YORK BUSINESS

©M

32 | Crain’s New York Business | June 27, 2011 CN014478 6/21/11 3:33 PM Page 1

You Built Your Business with Customers’ Needs in Mind. SO DID WE.

• Dedicated Small Business Relationship Manager • Convenient Online Access with TD Bank BusinessDirect • Longer Hours that Work with Your Schedule • We’re Ready to Lend When You’re Ready to Borrow

PUT THE POWER OF TD BANK TO WORK FOR YOU. To speak with a Small Business Relationship Manager, call 1-888-751-9000 or visit www.tdbank.com/smallbusiness

TD Bank, N.A. | Some fees and restrictions may apply. Loans subject to credit approval. | Equal Opportunity Lender | TD Bank Group is a trade name for The Toronto-Dominion Bank. Used with permission. For detailed credit ratings for The Toronto-Dominion Bank and TD Bank, N.A. visit https://www.td.com/investor/credit.jsp. Credit Ratings are not recommendations to purchase, sell, or hold a ﬁ nancial obligation inasmuch as they do not comment on market price or suitability for a particular investor. Ratings are subject to revision or withdrawal at any time by the rating organization. 20110627-NEWS--0034-NAT-CCI-CN_-- 6/23/2011 7:03 PM Page 1

CRAIN’S 50 MOST POWERFUL WOMEN IN NEW YORK

Jobs at the top in tough times BARELY MOVING IN THE C-SUITE OVER THE PAST FIVE YEARS, the number of women in leadership positions at Continued from Page 19 She rose to No. 2 on Crain’s list, bank unit in April. U.S. companies has stagnated, spot at Hearst Magazines last year from 27 in 2009. The ascension of women on according to Ilene Lang, the CEO of for an ill-fated stint as chancellor J.P.Morgan Chase veteran Mary the Street is nothing short of re- Catalyst, a nonprofit focusing on of New York’s public schools. She Callahan Erdoes was named CEO markable, given that they have women and work issues. has been lying low since her resig- of the asset management arm after lost ground in the larger financial nation in April. Nina Lannan’s she capably navigated other senior sector. For example, more than half of term as chair of the prominent positions in asset management. Fortune 500 companies had at least Broadway League ended last year, She’s one of the few at the bank who The more things change ... two female board directors in 2009, though she continues managing are seen as being able to step into the “It’s an industry becoming more but that proportion remained the same some of the Great White Way’s shoes of Chairman and CEO Jamie male at every level,”said Ilene Lang, in 2010, according to Catalyst. The biggest shows. Dimon someday.She debuts on this CEO of Catalyst. percentage of companies with three or As a group, more women than list at No. 11. According to the Bureau of La- more female directors remained flat as men kept their jobs during the re- “These gals survived not only the bor Statistics,the number of women well. punchstock cession, according to Sylvia Ann working in finance was 141,000 Meanwhile, the number of women Hewlett,an economist and the pres- lower in 2009 than it was a decade in management or professional jobs in the U.S. rose just 0.1 percentage ident of the Center for Work-Life The finance earlier, while the number of men point, to 51.5%, according to the Bureau of Labor Statistics. That number has Policy, a Manhattan think tank. had grown by 389,000. not improved much since 2001, when women held 49.3% of such jobs. industry is By contrast, more than one- —LISA FICKENSCHER Hitting a wall? quarter of the 50 women on Crain’s Women’s top ranks thinned, list have been promoted or have re- 1 2 though. Senior-level women were ‘becoming more ceived a significant honor over the BOARD SEATS EXEC. OFFICERS TOP EARNERS three times as likely as their male past two years. male at every level’ 14.4% 7.6% counterparts to have lost their jobs Trailblazing litigator Sheila 13.5% in a downsizing in 2007 and 2008, Birnbaum, 71, was appointed by the 15.7% 6.3% according to a study by Catalyst, a Department of Justice to run the 15.2% nonprofit that focuses on women fund that is compensating Ground and work issues. Zero workers. Anna Wintour of “In the leadership roles, women recession but also other things,” ob- Vogue was named an elective trustee are not any better-represented than served Janet Hanson, a former ex- of the Metropolitan Museum of they were 10 years ago,” said Ms. ecutive at Goldman Sachs who Art, and Deputy Mayor Patricia Hewlett. “They did not make founded 85 Broads, a networking Harris became CEO of the multi- 2009 2010 2009 2010 2009 2010 progress.” group. “Ruth Porat is a big-time billion-dollar Bloomberg Family Data are for women at Fortune 500 companies. 1-Defined as board-appointed positions. 2-Among all executive Though Wall Street was the epi- cancer survivor.” Foundation. officers. Source: Catalyst center of the economic crisis, the The promotions on Wall Street Deanna Mulligan will join the careers of a surprising number of fe- were bestowed on many who didn’t exalted few who lead Fortune 500 male financial executives have in make this year’s Crain’s list but could companies—women hold just 2.4% bigger challenges and adapting to sive news blog Huffington Post.She fact advanced. very well land there in the future. of those jobs—as she becomes CEO the new environment, earned their hitched up in February with AOL, Ruth Porat was promoted to For instance, Esta Stecher, Gold- of The Guardian Life Insurance first slot on the 50 Most Powerful which bought the site and put her in chief financial officer—second in man Sachs’ tax-law expert, became Company of America on July 1. Women list. They include Arianna charge of all content for the com- command—at Morgan Stanley. CEO of the firm’s deposit-taking Several media stars, taking on Huffington,founder of the progres- bined company. Ⅲ

• A premier government aairs and media relations rm Need Business Leads?

• A creative force behind winning public policy campaigns

• A rm that provides the highest level of client service

• A global rm with rapidly growing Latin America operations

• A rm whose founder Pat Lynch has been named one of Crain’s 50 Most Powerful Women in New York

Learn more: www.plynchassociates.com

Add Crain's wealth of information to your database. Sort. Merge. Mail. Prospect. Over 40 unique lists. Government Aairs | Media Relations Nearly 3,000 records. Put New York's top business executives in the palm of your hand. Purchase Crain’s Business Lists today at crainsnewyork.com/lists. !" #$%%%%%%%%%"&'' !(%%%%%%%%%#)*%$(+,%-./$%%%%%%%%%0 # 1 %-./$2%%0 # 1

34 | Crain’s New York Business | June 27, 2011

CN014485_left 6/24/11 11:57 AM Page 1

THECRAIN’S NEW YORK BUSINESS FUTURE OF NEW YORK CITY 2011 MEETING THE GROWTH CHALLENGE

DATE & TIME: July 19, 2011, 8:00 am–12:30 pm VENUE: The Grand Hyatt TICKETS: $249 for individual tickets, if purchased by July 1 $299 thereafter Space is limited. www.crainsnewyork.com/events_future Reserve your seat today. CN014485_right 6/24/11 11:57 AM Page 2

Join Crain’s at the 2011 Future Of New York City Conference, be a part of the conversation and examine New York City’s economy 10 years after 9/11.

OPENING SESSION Ten Years After 9/11: Rebirth of a City CONFIRMED PANELISTS: Daniel L. Doctoroff, President, New York deﬁed the doomsayers and came back stronger Bloomberg L.P., Howard W. than ever. How did the city pull it o? What lessons are to be Lutnick, Chairman + CEO, Cantor Fitzgerald, L.P., Christopher learned? And what challenges do we face as we look ahead to Ward, Executive Director, Port the future? Authority of NY & NJ

BREAKOUT SESSIONS Can Tech Fuel Our Future Growth? CONFIRMED PANELISTS: Sharon Mates, Ph.D., Co-founder, New York’s tech scene is exploding. Is this another Silicon Chairman + CEO, Intra-Cellular Alley bubble, or does it represent the foundation of a new Therapies, Seth Pinsky, President, NYC EDC, James Robinson IV, economic paradigm that will wean the city o its dependence Co-Founder & Managing Partner, on Wall Street? And what will it take to keep entrepreneurs in RRE Ventures New York and realize the city’s hopes for tech sector activity beyond digital media?

Jobs: Can the City Remain Competitive CONFIRMED PANELISTS: David Jones, President + CEO, and Still Preserve a Strong Middle Class? Community Service Society of The focus of job generating activity today is increasingly on NY, Carol Kellerman, President, Citizens Budget Commission, industries that require a highly skilled workforce. Jobs for Edmund J. McMahon, Senior unskilled workers still exist, but they no longer pay enough Fellow, Empire Center to support a middle class lifestyle in the city. The city is becoming more polarized, in economic and political terms.

NYC’s Crumbling Infrastructure: Can We CONFIRMED PANELISTS: Felicity Gates, Co-Head, Citi Afford To Fix It? Infrastructure Investors, Stephen With the federal and state government in ﬁscal crisis, there Goldsmith, Deputy Mayor for Operations, The City of NY, Gary are no resources identiﬁed that will support the investment LaBarbera, President, Building required to maintain or improve public facilities at a level and Construction Trades Council required to support economic growth. How will New York get of Greater NY, Jay Walder, Chairman + CEO, MTA out of this situation?

Public Education: Can We Raise the Bar? CONFIRMED PANELISTS: Matthew Goldstein, Chancellor, The Bloomberg administration’s legacy will rest in its The City University of NY, Joel education reforms, yet many challenges remain. Too many Klein, Former Chancellor, NYC students fail to graduate from high school; others arrive at Public Schools, Eva Moskowitz, CEO, Success Charter Network college unprepared. How do we continue to raise standards and remove barriers to further reform?

PRESENTING SPONSOR CITY SPONSOR nb26p38-40cl.qxp 6/23/11 2:20 PM Page 38

FRANCHISE OPPORTUNITY LUXURY PROPERTY PUBLIC RELATIONS

STUNNING BEACH HOUSE IN THE DUNES Amagansett. Impeccable 6,000 SF+/- summer cottage next to reserve. Exclusive $11.8M WEB# 35028 Joseph DeCristofaro Salesperson 631.873.5362

SECURITY SERVICES SECURITY GUARD SERVICES SECURITY GUARD SERVICES

ACCOUNTING SERVICES TELECOMMUNICATIONS EXECUTIVE PUBLIC & LEGAL NOTICES ACCOUNTANT/BOOKKEEPER RECRUITER Notice of Qualification of MHR INSTI- Notice of Formation of LOWLAND One day a week Bookkeeper/Accountant. TUTIONAL ADVISORS LLC. Authority PRODUCTIONS LLC. Arts. of Org. Very reliable, dependable and discreet. filed with Secy. of State of NY (SSNY) filed with Secy. of State of NY 25 years experience, A/R, A/P, P/R, G/L POSITION AVAILABLE on 06/07/11. Office location: NY (SSNY) on 06/09/11. Office location: taxes. Deals with tax authorities. 33 East 33rd Street County. LLC formed in Delaware (DE) NY County. SSNY designated as Expert in Quickbooks. VP, Fixed Income Technology on 01/26/98. SSNY designated as agent of LLC upon whom process New York, NY 10016 (AllianceBernstein L.P. - New York, NY) agent of LLC upon whom process against it may be served. SSNY shall (718) 629-8767 212-532-7400 Provide sftwre dvlpmt leadership for against it may be served. SSNY shall mail process to Jason Ludman, 124 [email protected] major investment mgmt firm. Reqs a mail process to c/o Corporation E. 24th St., Apt. 4H, NY, NY 10010. Bach’s deg (or foreign equiv.) in Comp. Service Co. (CSC), 80 State St., Purpose: Any lawful activity. BUSINESS OPPORTUNITY Info. Systems & 10 yrs of exp. as a Albany, NY 12207-2543, regd. agent EMERGENCY Notice of Formation of POP Custom COMMUNICATIONS Sftwre Engineer, Systems Dvlpr/Analyst, upon whom and at which process E-Commerce- Start-up Company look- may be served. DE addr. of LLC: c/o Media LLC. Arts. of Org. filed with the or Programmer/Analyst. 5 yrs of exp. as Secy. of State of NY (SSNY) on 6/8/11. ing for an experienced or all around knowl- SYSTEMS stated must incl. leading sftwre app. CSC, 2711 Centerville Rd., Ste. 400, Wilmington, New Castle Cnty., DE Office location: NY County. SSNY edgeable executive. Equity/partnership. SPECIALISTS dvlpmt & implementation initiatives designated as agent of LLC upon w/in the financial srvcs industry for an 19808. Cert. of Form. filed with Secy. Golden opportunity 917-887-6520. • FREE PICKUP & DELIVERY of State of the State of DE, 401 whom process against it may be investment mgmt firm w/ at least $300 • 48 HOUR TURNAROUND Federal St., Dover, DE 19901. served. SSNY shall mail process to: billion in assets under mgmt. Must also Purpose: Any lawful activity. c/o Barton Barton & Plotkin LLP, 420 ON REPAIRS have exp. in each of the following: Lexington Ave., 18th Fl., New York, NY FINANCIAL SERVICES • FREE ENGRAVING design, dvlpmt, & implementation of CAMPRODON INVESTORS LLC, a 10170. Purpose: any lawful activity. technological solutions to support domestic Limited Liability Company Former Bank CEO has private capital • SHORT & LONG TERM NOTICE OF FORMATION OF LIMITED RENTALS multi-asset financial products, incl. (LLC), filed with the Sec of State of NY to make both commercial mortgages high-lvl exp. working w/ complex struc- on 3/7/11. NY Office location: New LIABILITY COMPANY. NAME: 2589 and commercial loans to small busi- tured products & derivative instruments; York County. SSNY is designated as WESTSIDE ENTERPRISES LLC. analysis of end-to-end money mgmt agent upon whom process against Articles of Organization were filed with nesses. Also experts at handling bank the LLC may be served. SSNY shall the Secretary of State of New York workouts for small businesses. Call process & system reqs, incl. Research, Analytics, Portfolio Mgmt, Portfolio mail a copy of any process against (SSNY) on 05/19/11. Office location: New York County. SSNY has been des- Michael at (203)605-4082 or email Implementation, Trading, Settlements, the LLC served upon him/her to worthavenuecapital@gmail.com Blumberg Excelsior Corporate ignated as agent of the LLC upon whom & Risk; creating & implementing pro- process against it may be served. duction apps to support complex finan- Services, Inc., 62 White St., NY, NY 10013. General Purposes. SSNY shall mail a copy of process to cial transactions based on client & end- the LLC, 253 West 72nd Street, Suite REQUEST FOR PROPOSALS user reqs; designing & implementing Notice of Formation of Bowtie 211, New York, New York 10023. Enterprise Service Bus based apps; rout- Properties LLC. Art. Of Org. filed with Purpose: For any lawful purpose. ing techniques, incl. content based, SSNY on 5/20/11. Office Location: BROKERAGE SERVICES REQUEST FOR PROPOSALS rules based & policy based; working w/ NY County. SSNY designated as NOTICE OF FORMATION OF Exquity The New York City Educational Construction Fund (“ECF”) is seeking mediation patterns, incl. adapters, pro- agent for process. SSNY shall mail a Realty LLC. Articles of Organization filed with the Secretary of State of proposals from organizations that are capable of providing insurance tocol transformation &/or srvc map- copy of any process to: c/o Robert C. Susser, Esq., 270 Madison Ave., NY (SSNY) on 05/09/11. Office brokerage and consulting services to a public benefit corporation ping; &, expert level utilization of C#, WCF, SCSF, Oracle & Sybase. 15th Fl NY, NY 10016. Purpose: To location: NEW YORK County. SSNY organized by the State of New York. A copy of the Request for Proposal Resumes: J. Johnson, AllianceBernstein engage in any lawful act or activity. has been designated as agent upon (RFP) for Insurance Brokerage and Advisory Services may be obtained L.P., 1345 Avenue of the Americas, New whom process against it may be from ECF by contacting the Fund at (718) 472-8287. Responses to the Name: 5th AVE DOLLAR LLC Art. Of served. The Post Office address to York, NY 10105. JobID: NEWDVI Org. Filed Sec. of State of NY which the SSNY shall mail a copy of RFP must be received at the Fund’s offices by 12 noon, July 25, 2011. 03/22/2011. Off Loc.: New York Co. any process against the LLC served New York City Educational Construction Fund SSNY designated as agent upon upon him/her is: 120 E 34th St Apt 30-30 Thomson Avenue, 4th Floor whom process against it may be 10J, New York NY 10016. The VISIT OUR WEBSITE served. SSNY to mail copy of process principal business address of the Long Island City, New York 11101 to THE LLC, C/O Muhammad Abbasi, LLC is: 120 E 34th St Apt 10J, (718) 472-8287 phone CRAINSNEWYORK.COM 128 Keswick Drive, Piscataway, NJ New York NY 10016. Purpose: any (718) 752-5222 facsimile 08854. Purpose: Any lawful act. lawful act or activity.

38 | Crain’s New York Business | June 27, 2011 nb26p38-40cl.qxp 6/23/11 1:06 PM Page 39

PUBLIC & LEGAL NOTICES

NOTICE OF FORMATION OF Notice of Qualification of MILLENNIUM Notice of Formation of Tolland Realty Notice of Formation of GREENACRES Notice of Qualification of TAVROS Quartermaster Corps LLC. Articles TECHNOLOGY VALUE PARTNERS II Company Limited Partnership filed PRESERVATION, L.P. Cert. of LP filed MERCER MANAGER LLC. Authority of Organization filed with the (GP), L.P. Authority filed with Secy. of with the NY Dept. of State on with Secy. of State of NY (SSNY) on filed with Secy. of State of NY (SSNY) Secretary of State of NY (SSNY) on State of NY (SSNY) on 06/03/11. 4/1/2011. Office Location: NY 05/04/11. Office location: NY County. on 05/13/11. Office location: NY March 24, 2011. Office location: Office location: NY County. LP formed County. NY Sec of State (“SSNY”) Princ. office of LP: 60 Columbus County. LLC formed in Delaware (DE) NEW YORK County. SSNY has been in Delaware (DE) on 10/14/08. Princ. designated as agent of LP upon Circle, NY, NY 10023. Latest date on on 05/12/11. Princ. office of LLC: designated as agent upon whom office of LP: Millennium TVP II (UGP), whom process against it may be which the LP may dissolve is Attn: Dov Barnett, 33 W. 19th St., 4th process against it may be served. LLC, 747 Third Ave., 38th Fl., NY, NY served and SSNY shall mail process 12/31/2111. SSNY designated as Fl., NY, NY 10011. SSNY designated The Post Office address to which the 10017. SSNY designated as agent of to: c/o Stephen H. Penn, 114 W. agent of LP upon whom process as agent of LLC upon whom process SSNY shall mail a copy of any process LP upon whom process against it may 47th St., 19th Fl., NY, NY 10036. against it may be served. SSNY shall against it may be served. SSNY shall against the LLC served upon him/her be served. SSNY shall mail process Name/Addr. of genl.ptr. is available mail process to c/o Corporation mail process to the LLC at the princ. is: 1240 N. Lake Shore Drive, #4B, to the LP at the addr. of its princ. office. from SSNY. Latest date LP to Service Co., 80 State St., Albany, NY office of the LLC. DE addr. of LLC: C/O Ellis Regenbogen, Chicago, IL Name and addr. of each general dissolve is 12/29/2029. Purpose: 12207. Name and addr. of each c/o Corporation Service Co., 2711 60610. The principal business address partner are available from SSNY. DE acquire and dispose of investment general partner are available from Centerville Rd., Ste. 400, Wilmington, of the LLC is: 1240 N. Lake Shore addr. of LP: c/o Corporation Service property situate in Tolland, MA. SSNY. Purpose: Any lawful activity. DE 19808. Cert. of Form. filed with Drive, #4B, Chicago, IL 60610. Co., 2711 Centerville Rd., Ste. 400, Secy. of State of DE, 401 Federal St., Purpose: any lawful act or activity. Wilmington, DE 19808. Cert. of Form. HIDDEN VALLEY FILMS LLC, a The Public is hereby notified of the Ste. 4, Dover, DE 19901. Purpose: filed with Secy. of State of DE, Div. of domestic Limited Liability Company Formation of a limited liability Any lawful activity. Notice of Formation of CUMULUS Corps., 401 Federal St., Ste. 4, Dover, (LLC), filed with the Sec of State of NY company in the county of Kings in HR, LLC. Arts. Of Org. filed with Secy DE 19901. Purpose: Any lawful activity. on 5/27/11. NY Office location: New the State of New York. The company Notice of Qual. of Half Moon GP, LLC, of State of NY (SSNY) on 05/31/2011. York County. SSNY is designated as name: HUR Trading LLC. The Auth. filed Sec’y of State (SSNY) Office location: New York County. Notice of Formation of 182 Butler agent upon whom process against the address is: 1074 Coney Island 3/4/11. Office loc.: NY County. LLC SSNY designated as agent of LLC Holding, LLC. Articles of Org. filed LLC may be served. SSNY shall mail Avenue, Brooklyn, NY 11230. org. in DE 3/1/11. SSNY desig. as upon whom process against it may with Secy. of State of NY (SSNY) on a copy of any process against the LLC agent of LLC upon whom process be served. SSNY shall mail process 05/24/11. Office location: New York served upon him/her to The LLC, 242 LYDIA PROPERTIES, LLC a domestic against it may be served. SSNY to: c/o Harry Feinberg, 489 Fifth Co. SSNY designated as agent of LLC West 38th St., P.O. Box 905, NY, NY Limited Liability Company (LLC), filed shall mail copy of proc. to Att: Eric Avenue, Second Fl., New York, N.Y. upon whom process against it may 10018. General Purposes. with the Sec of State of NY on DeLamarter, 168 First Ave., NY, NY 10017 Purpose: any lawful activities. be served. SSNY shall mail process 3/29/11. NY Office location: New 10009. DE off. addr.: CSC, 2711 to the LLC, c/o Judith Linhares, 15 Notice of Formation of Skin Holdings, York County. SSNY is designated as Centerville Rd., Wilmington, DE NOTICE OF FORMATION of FIELDSTONE Laight St., #18, New York, NY 10013. LLC. Arts. of Org. filed with NY Dept. agent upon whom process against 19808. Cert. of Form. on file: SSDE, WORLD LLC. Article of Organization Purpose: any lawful act or activity. of State on 4/27/11. Office location: the LLC may be served. SSNY shall Townsend Bldg., Dover, DE 19901. filed with the Secretary of State of NY NY County. Sec. of State designated mail a copy of any process against Purp.: any lawful activities. (SSNY) on 01/26/11. Office location: NY Notice of Formation of Choctaw LLC. agent of LLC upon whom process the LLC served upon him/her to The County. SSNY has been designated Articles of Organization filed with Secy. against it may be served and shall LLC, 390 West End Ave., Unit 6G, Notice of Formation of RAA MEDIA, as agent upon whom process against of State of NY (SSNY) on 03/15/11. mail process to: Klestadt & Winters, NY, NY 10024. General Purposes. LLC. Arts. of Org. filed with Secy. of it may be served. SSNY shall mail a Office location: New York Co. SSNY LLP, 570 7th Ave., 17th Fl., NY, NY State of NY (SSNY) on 05/02/11. copy of any process against the LLC designated as agent of LLC upon 10018, Attn: Ian R. Winters, regd. THIRTEEN LIMITED PARTNERSHIP, Office location: NY County. Princ. served to: The LLC, 200-210 East whom process against it may be agent upon whom process may be a domestic Limited Partnership (LP), office of LLC: 88 Pine St., NY, NY 65th St., Suite 9M, NY, NY 10065. served. SSNY shall mail process to served. Purpose: any lawful activity. filed with the Sec of State of NY on 10005. SSNY designated as agent Purpose of LLC: to engage in any the LLC, 900 Greensward Lane, Apt. 5/19/11. NY Office location: New of LLC upon whom process against lawful act or activity. G207, Delray Beach, FL 33445. Global Language School LLC. York County. SSNY is designated as it may be served. SSNY shall mail Purpose: any lawful act or activity. Articles of Org. filed NY Sec. of State agent upon whom process against process to c/o Ralph Appelbaum Notice of Formation of Betty Rose (SSNY) 1/18/2011. Office in New York the LP may be served. SSNY shall Associates, Inc., Attn: Sharaf M. Properties LLC. Arts. of Org. filed NOTICE OF FORMATION OF GENIUS County. SSNY design. Agent of LLC mail a copy of any process against Hassan at the princ. office of the LLC. with Secy. of State of NY (SSNY) on BRANDS LLC. Filed with Sec’y of upon whom process may be served. the LP served upon him/her to Stones Purpose: Media production services 6/1/11. Office location: NY Co. SSNY State of NY (SSNY) on 5/17/11. Office SSNY shall mail copy of process to Throw Partners Limited Liability and other related services. designated as agent of LLC upon loc: NY County. SSNY designated as 302 W79th St., Suite 4A, NYC, N.Y. Company, Attn: Evan Bell, Managing whom process against it may be agent upon whom process may be 10024. Purpose: Any lawful activity. Member, 380 Lexington Ave., NY, NY Notice of Formation of GALLUS served. Mail copy of process to: USCA, PROPERTIES, LLC. Arts. of Org. filed served. SSNY shall mail process to: GG CLINICAL RESEARCH CONSUL- 10168. Latest date to dissolve c/o Eric W. Rubinstein, Esq., Kaufman 7014 13th Ave, Ste 202, Bklyn, NY 12/31/2099. General Purposes. with Secy. of State of NY (SSNY) on 11228. LLC business address is: 350 TANTS, LLC, a domestic Limited 05/09/11. Office location: NY County. Friedman Plotnicki & Grun, LLP, 300 Liability Company (LLC), filed with the 5th Ave, FL 4, NY, NY 10118. Notice of Qualification of Pegasus SSNY designated as agent of LLC East 42nd St., 8th Fl., NY, NY 10017, Sec of State of NY on 5/10/11. NY Purpose: Any lawful acts. Investors V (GP), L.L.C. Authority upon whom process against it may also the registered agent. Purpose: Office location: New York County. filed with NY Dept. of State on 5/6/11. be served. SSNY shall mail process any lawful activities. SSNY is designated as agent upon Notice is hereby given that a license Office location: NY County. Princ. to Corporation Service Co., 80 State whom process against the LLC may Notice of Qual. of Southern New (#TBA) for Liquor has been applied bus. addr.: 99 River Rd., Cos Cob, St., Albany, NY 12207-2543. be served. SSNY shall mail a copy England Electrical Testing LLC. Auth. for by GRIFFON 1356 LLC at retail, CT 06807. LLC formed in DE on Purpose: Any lawful activity. of any process against the LLC filed with Sec of State NY (SSNY): in a Restaurant, under the ABC Law, 4/6/11. NY Sec. of State designated served upon him/her to The LLC, Notice of Qual. of Visium Catalyst 4/21/11. Office in NY County. Formed at 1356-1358 FIRST AVE. NY, NY agent of LLC upon whom process 455 Main St., Apt. 4P, NY, NY 10044. Credit IM, LLC, Auth. filed Sec’y of in CT: 11/30/07. SSNY designated 10021 for on-premises consumption. against it may be served and shall General Purposes. State (SSNY) 4/4/11. Office loc.: NY agent of LLC upon whom process mail process to: c/o CT Corporation County. LLC org. in DE 3/23/11. SSNY against it may be served & shall mail Notice of Formation of Jade Kee System, 111 8th Ave., NY, NY 10011, ROTHSCHILD REALTY ASSOCIATES, desig. as agent of LLC upon whom process to 78 Dinatale Dr., Durham, Wholesale LLC. Office of location: NY regd. agent upon whom process may LLC; Arts., of Org., filed with NY Sec. process against it may be served. CT 06422. Principal office: 78 Dinatale County. SSNY designated as agent be served. DE addr. of LLC: 1209 of State (“SSNY”) 5/16/2011. Office in SSNY shall mail copy of proc. to Att: Dr., Durham, CT 06422. Arts. of Org. for processing. SSNY shall mail a Orange St., Wilmington, DE 19801. New York County; SSNY designated Mark Gottlieb, 950 Third Ave., 29th filed with The Sec of State of CT, copy of any process to 32 Orchard Cert. of Form. filed with DE Sec. of agent for service of process with copy Fl., NY, NY 10022. DE off. addr.: CSC, 30 Trinity St, Hartford, CT 06106. Street, New York, NY 10022-5219. State, 401 Federal St., Dover, DE mailed to The LLC, 265 E. 66th Street, 2711 Centerville Rd., Wilmington, DE Purpose: General. Purpose: to engage in any lawful act. 19901. Purpose: all lawful purposes. NY, NY 10065, Attn: Marc Rothschild, 19808. Cert. of Form. on file: SSDE, The Public is hereby notified of the All lawful business purposes. Notice of Qual. of TIG Falconer 116 AVENUE C, LLC, a domestic Townsend Bldg., Dover, DE 19901. Formation of a limited liability com- Partners, L.P., Auth. filed Sec’y of Limited Liability Company (LLC), filed Purp.: any lawful activities. pany in the county of Kings in the Notice of Qualification of Camuto State (SSNY) 12/10/10. Office loc.: with the Sec of State of NY on State of New York. The company Group LLC. Authority filed with NY Notice of Qualification of CTAM IPM NY County. LP org. in DE 12/9/10. 4/26/11. NY Office location: New York name: Thow LLC. The address is: 23 Dept. of State on 5/17/11. Office LLC. Authority filed with NY Dept. of County. SSNY is designated as SSNY desig. as agent of LP upon Brighton 4 Terr, Brooklyn, NY 11235. location: NY County. LLC formed in State on 5/9/11. Office location: NY whom process against it may be DE on 1/11/10. NY Sec. of State agent upon whom process against the County. LLC formed in DE on 5/5/11. served. SSNY shall mail copy of Notice of Formation of ICS Manager designated agent of LLC upon whom LLC may be served. SSNY shall mail NY Sec. of State designated as proc. to Att: Michael Tiedemann, 1501 86th Street, LLC. Arts. of Org. process against it may be served and a copy of any process against the agent of LLC upon whom process 520 Madison Ave., 26th Fl., NY, NY filed with Secy. of State of NY (SSNY) shall mail process to the principal LLC served upon him/her to Marolda against it may be served and shall 10022. DE off. addr.: CSC, 2711 on 4/5/11. Office location: NY Co. business addr.: 411 W. Putnam Ave., Properties, Inc., 46 Trinity Pl., 3rd Fl., mail process to the principal business Centerville Rd., Wilmington, DE SSNY designated as agent of LLC Ste. 210, Greenwich, CT 06830. DE NY, NY 10006. General Purposes. address: 599 Lexington Ave., NY, NY 19808. Cert. of LP on file: SSDE, upon whom process against it may addr. of LLC: The Corporation Trust Co., Latest date to dissolve 5/1/2041. 10022. DE address of LLC: c/o The Townsend Bldg., Dover, DE 19901. be served. SSNY shall mail process 1209 Orange St., Wilmington, DE Corporation Trust Co., 1209 Orange Name/addr. of each gen. ptr. avail. to: c/o Crown Acquisitions, Inc., Attn: 19801. Cert. of Form. filed with DE Sec. Notice of Qualification of BLACKSTONE St., Wilmington, DE 19801. Cert. of at SSNY. Purp.: any lawful activities. Richard Chera, 362 Fifth Ave., Ste. of State, 401 Federal St., Dover, DE STRATEGIC ALLIANCE MASTER Form. filed with DE Sec. of State, 1201, NY, NY 10001. Purpose: any 19901. Purpose: any lawful activity. FUND X L.P. Authority filed with Secy. P.O. Box 898, Dover, DE 19903. Notice of Qualification of SAVANNA lawful activities. of State of NY (SSNY) on 06/07/11. Purpose: all lawful purposes. SERVICES HOLDINGS, LLC. Authority Notice of Qualification of Klingenstein Office location: NY County. LP filed with Secy. of State of NY (SSNY) Notice of Qualification of Fillmore East Fields Asia Fund Management, LLC. formed in Delaware (DE) on 06/01/11. Notice of Qualification of 180 Orchard on 05/25/11. Office location: NY BS Finance Subsidiary, LLC. Authority Authority filed with NY Dept. of State Princ. office of LP: 345 Park Ave., 28th Owner LLC. App for Auth. filed with County. LLC formed in Delaware (DE) filed with NY Dept. of State on 4/8/11. on 11/18/10. Office location: NY Fl., NY, NY 10154. SSNY designated Secy. of State of NY (SSNY) on on 05/24/11. Princ. office of LLC: 10 Office location: NY County. LLC formed County. Princ. bus. addr.: 787 7th Ave., as agent of LP upon whom process 4/27/11. Office location: NY County. E. 53rd St., 37th Fl., NY, NY 10022- in DE on 1/19/06. NY Sec. of State 6th Fl., NY, NY 10019. LLC formed in against it may be served. SSNY shall LLC formed in Delaware (DE) on 5056. SSNY designated as agent of designated agent of LLC upon whom DE on 10/21/10. NY Sec. of State mail process to Blackstone Strategic 4/18/11. SSNY designated as agent LLC upon whom process against it process against it may be served and designated agent of LLC upon whom Alliance Associates II L.L.C. at the of LLC upon whom process against may be served. SSNY shall mail shall mail process to the principal process against it may be served and princ. office of the LP. Name and it may be served. SSNY shall mail process to c/o Corporation Service business addr.: c/o Windels Marx Lane shall mail process to: c/o CT addr. of each general partner are process to: c/o Brack Capital Real Co., 80 State St., Albany, NY 12207- & Mittendorf LLP, 156 W. 56th St., 23rd Corporation System, 111 8th Ave., NY, available from SSNY. DE addr. of LP: Estate Ltd., 885 Third Ave., NY, NY 2543. DE addr. of LLC: 2711 Fl., NY, NY 10019, Attn: Tina Gagliano. NY 10011, regd. agent upon whom Corporation Service Co., 2711 10022, Attn: Issac Hera. DE address Centerville Rd., Ste. 400, Wilmington, DE addr. of LLC: c/o Corporation process may be served. DE addr. of Centerville Rd., Ste. 400, Wilmington, of LLC: c/o Diversified Corporate DE 19808. Cert. of Form. filed with Service Co., 2711 Centerville Rd., LLC: The Corporation Trust Co., 1209 New Castle Cnty., DE 19808. Cert. of Services Int’l, Inc., 508 Main St., Secy. of State of DE, Div. of Corps., Ste. 400, Wilmington, DE 19808. Orange St., Wilmington, DE 19801. Form. filed with DE Secy. of State, Wilmington, DE 19804. Cert. of Form. John G. Townsend Bldg., 401 Federal Cert. of Form. filed with DE Sec. of Cert. of Form. filed with DE Sec. of Div. of Corps., John G. Townsend filed with DE Secy. of State, 401 St., Ste. 4, Dover, DE 19901. State, 401 Federal St., Dover, DE State, 401 Federal St., Dover, DE Bldg., 401 Federal St., Ste. 4, Dover, Federal St., Ste. 4, Dover, DE 19901. Purpose: Any lawful activity. 19901. Purpose: any lawful activity. 19901. Purpose: any lawful activity. DE 19901. Purpose: Investments. Purpose: any lawful activity.

June 27, 2011 | Crain’s New York Business | 39 nb26p38-40cl.qxp 6/23/11 1:06 PM Page 40

PUBLIC & LEGAL NOTICES

Notice of Qualification of IRG 38 LLC. Notice of Qualification of VNO-MHP Notice of Qualification of COMCAST Notice of Formation of STUART KLODA, Notice of Qualification of Eiger Authority filed with Secy. of State of NY JV LLC. Authority filed with NY Dept. VENTURES, LLC. Authority filed with MD, PLLC. Arts. of Org. filed with Secy. International Financial Management LLC (SSNY) on 06/06/11. Office location: of State on 2/7/11. Office location: NY Secy. of State of NY (SSNY) on of State of NY (SSNY) on 05/31/11. App. for Auth. filed Sec’y of State (SSNY) NY County. LLC formed in Delaware County. Princ. bus. addr.: 210 Route 05/17/11. Office location: NY County. Office location: NY County. Princ. on 6/6/11. Office location: New York (DE) on 06/03/11. Princ. office of LLC: 4 East, Paramus, NJ 07652. LLC LLC formed in Delaware (DE) on office of PLLC: Stuart Kloda, MD, 500 County. LLC org. in DE 2/7/11. SSNY ELB Holdings c/o Eric L. Birnbaum, formed in DE on 1/20/11. NY Sec. of 05/10/11. SSNY designated as agent W. 56th St., Apt. 524, NY, NY 10019. designated as agent of LLC upon whom 745 5th Ave., NY, NY 10151. SSNY State designated agent of LLC upon of LLC upon whom process against it SSNY designated as agent of PLLC process against it may be served. SSNY designated as agent of LLC upon whom process against it may be may be served. SSNY shall mail process upon whom process against it may shall mail copy of process to 19 West whom process against it may be served and shall mail process to: c/o to c/o CT Corporation System, 111 be served. SSNY shall mail process 44th St., Suite 312, New York, NY 10036. served. SSNY shall mail process to CT Corporation System, 111 8th Ave., Eighth Ave., NY, NY 10011. DE addr. to the PLLC at the addr. of its princ. Office address in DE 40 E. Division St, the LLC at the addr. of its princ. office. NY, NY 10011, regd. agent upon whom of LLC: c/o Comcast Capital office. Purpose: Any lawful activity. Suite A, Dover, DE 19901. Cert. of Form. DE addr. of LLC: 2711 Centerville process may be served. DE addr. of Corporation, 1201 N. Market St., Ste. on file: SSDE, Div. of Corporations, Rd., Ste. 400, Wilmington, DE 19808. LLC: 1209 Orange St., Wilmington, DE 1000, Wilmington, DE 19801. Cert. of NOTICE OF FORMATION OF Jojotalk John G. Townsend Bldg., 401 Federal Cert. of Form. filed with Secy. of 19801. Arts. of Org. filed with DE Sec. Form. filed with DE Secy. of State, LLC. Arts of Org filed with the Secy St., Suite 4, Dover, DE 19901. Purpose: State, 401 Federal St., Dover, DE of State, 401 Federal St., Dover, DE 401 Federal St., Dover, DE 19901. of State of NY (SSNY) on 04/05/11. any lawful activities. 19901. Purpose: Any lawful activity. 19901. Purpose: all lawful purposes. Purpose: Any lawful activity. Office location: NY County. SSNY has been designated as agent upon Notice of Qualification of Black NOTICE OF FORMATION OF Farley Notice of Formation of SoCreo NOTICE OF FORMATION of Peasant whom process may be served and Capital Group LLC. App. for Auth. Realty Group LLC filed with the Fashion House, LLC. Arts. of Org. Prince Productions LLC. Article of shall mail a copy of any process to filed with Secy. of State of NY (SSNY) Secretary of State of NY (SSNY) on filed with NY Dept. of State on Organization filed with the Secretary the principal business address: on 5/27/10. Office location: NY 2/25/11. Office loc: NEW YORK Cty. 5/31/11. Office location: NY County. of State of NY (SSNY) on 04/11/2011. 1173A 2nd Avenue #134, NY, NY County. LLC formed in Delaware (DE) SSNY designated as agent upon whom Sec. of State designated agent of Office location: NY County. SSNY has 10065. Purpose: any lawful acts. on 5/24/10. SSNY designated as process may be served. SSNY shall LLC upon whom process against it been designated as agent upon whom agent of LLC upon whom process mail process to the LLC: 60 E 42nd may be served and shall mail process against it may be served. Notice of Formation of HUDSON against it may be served. SSNY shall Street, Suite 1841, New York, New process to the principal business The Post Office address to which the STREET SOUPS LLC. Arts. of Org. mail process to: c/o Gary Black, 630 York 10165. Purpose: any lawful acts. address: 183 Hester St., #4R, NY, NY SSNY shall mail a copy of any process filed with Secy. of State of NY (SSNY) Fifth Ave., NY, NY 10111. DE address on 05/26/11. Office location: NY of LLC: c/o United Corporate Services, NOTICE OF FORMATION of 10013. Purpose: all lawful purposes. against the LLC served upon him is County. Princ. office of LLC: Hale and Inc., 874 Walker Road, Ste. C, Dover, McKane-Lins, LLC. Arts. of Org. filed C/O the LLC 265 East 66th Street, Infrared Capital Partners (US) LLC; Hearty Soups LLC, 75 Ninth Ave., NY, DE 19904. Arts. of Org. filed with DE with Secy. of State of NY (SSNY) on Apt 35G, NY, NY, 10065. Purpose of App., for Auth., filed with NY Sec. of NY 10011. SSNY designated as agent Secy. of State, Townsend Bldg., Dover, 4/26/11. Office location: NY County. LLC: to engage in any lawful act or State (“SSNY”) 5/09/2011. Office in activity. Street address of Principal of LLC upon whom process against it DE 19901. Purpose: any lawful activity. SSNY designated as agent of LLC New York County; LLC formed in DE may be served. SSNY shall mail upon whom process against it may Business location is: 265 East 66th on 1/12/2011, SSNY designated Street, Apt 35G, NY, NY, 10065. process to c/o Corporation Service NOTICE OF FORMATION OF be served. SSNY shall mail process agent for service of process with Co., 80 State St., Albany, NY 12207. Rubenstein Casting and Production, to: 520 E. 90th St., 2A, NY, NY copy mailed to c/o HSBC Capital NOTICE OF FORMATION of Anna Purpose: Any lawful activity. LLC. Arts of Org filed with the Secy 10128. Purpose: any lawful activity. (USA) Inc., 452 Fifth Ave, NY, NY Seibert LLC. Arts. of Org. filed w/ Sec of State of NY (SSNY) on 4/25/11. of State of NY (SSNY) on 4/29/11. Notice of Qual. of Concept Capital Office loc: NY Cty. SSNY designated Notice of Formation of 273-277 10018. All lawful business purposes. Office location: NY County. Principal Markets, LLC, Auth. filed Sec’y of as agent upon whom process may Kosciuszko, L.P. Certificate filed with Name: TradeSense LLC. Art. Of Org. Business address: 330 3rd Ave, 4H, State (SSNY) 4/12/11. Office loc.: NY be served and shall mail a copy of Secy. of State of N.Y. (SSNY) on Filed Sec. Of State of NY on 12/23/10. NY, NY 10010. SSNY has been desig- County. LLC org. in DE 6/30/09. any process to the principal business 11/22/10. Office location: NY County. Off. Loc.: New York Co. SSNY nated as agent upon whom process SSNY desig. as agent of LLC upon address: 210 E 68th St., NY, NY SSNY designated as agent of LP designated as agent upon whom against it may be served and shall whom process against it may be 10065. Purpose: any lawful acts. upon whom process against it may be process against it may be served. mail process to: c/o Anna Seibert LLC, served. SSNY shall mail copy of served. SSNY shall mail process to: SSNY to mail copy of process to 330 3rd Ave, 4H, NY, NY 10010. Date proc. to 527 Madison Ave., 6th Fl., Notice of Formation of DIEPPA 37 W. 20th St., Ste. 603, NY, NY 10011. TradeSense LLC , 301 E. 79th St. for Dissolution: None. Purpose of NY, NY 10022. DE off. addr.: CSC, RESTREPO LLC, a domestic LLC. Name/address of each genl. ptr. avail- 24F, New York, NY 10075. Purpose: LLC: any lawful activity. 2711 Centerville Rd., Wilmington, DE Arts. of Org. filed with the SSNY on able from SSNY. Term: until 12/31/2060. Any lawful act or activity. 19808. Cert. of Form. on file: SSDE, 05/09/2011. Office location: NY County. Purpose: any lawful activity. Notice of formation of Krys Hall, CPA, Townsend Bldg., Dover, DE 19901. SSNY has been designated as agent Purp.: any lawful activities. upon whom process against the LLC GREG Notice is hereby given that a license, LLC Arts of org filled with Sec of NOTICE OF FORMATION OF may be served. SSNY shall mail a copy MITCHELS LLC. Articles of number 1254589 for on-premise liquor State 6/15/11. Office location: NY has been applied for by the undersigned County. SSNY designated as agent RESOURCE FURNITURE LICENSING, of process to: 29 Essex St., NY, NY Organization filed with the Secretary LLC, a domestic Limited Liability 10002. Purpose: Any Lawful Purpose. of State of NY (SSNY) on 2/9/11. to sell liquor, beer & wine at retail in a for processing. SSNY shall mail a restaurant under the Alcoholic Beverage copy of any process to: 35 Orchard Company (LLC), filed with the Sec of Office location: NEW YORK County. OPPCAP GROUP LLC, a domestic Control Law at 129 W. 56 St., N.Y., N.Y. Street Albany, NY 10255. Purpose to State of NY on 3/17/11. NY Office SSNY has been designated as agent Limited Liability Company (LLC), filed 10019 for on premise consumption. in engage in any lawful act. location: New York County. SSNY is upon whom process against it may designated as agent upon whom with the Sec of State of NY on 4/15/11. be served. SSNY shall mail process Busara’s House Incorporated t/a Notice of Qualification of Miller Pipeline, process against the LLC may be NY Office location: New York County. to: 225 W 23rd ST, APT 2R, NEW Topaz Thai Restaurant LLC. Authority filed with NY Dept. of served. SSNY shall mail a copy of SSNY is designated as agent upon YORK, NY 10011. Purpose: any Notice of Qual. of Half Moon Capital State on 6/2/11. Office location: NY any process against the LLC served whom process against the LLC may lawful act or activity. Partners, LP, Auth. filed Sec’y of County. LLC formed in IN on 12/31/10. upon him/her to The LLC, 969 Third be served. SSNY shall mail a copy of State (SSNY) 3/4/11. Office loc.: NY NY Sec. of State designated agent of Ave., NY, NY 10022. General Purposes. any process against the LLC served NOTICE OF FORMATION of limited upon him/her to Francis Hager, 14 liability company (LLC). Name: ZCAM, County. LP org. in DE 3/1/11. SSNY LLC upon whom process against it Notice of Formation of Donzoola LLC. desig. as agent of LP upon whom may be served and shall mail process Deer Path Ln., Berkeley Heights, NJ LLC. Articles of Organization filed Articles of Org. filed with Secy. of State 07922. General Purposes. with Sec. of State of NY (SSNY) on process against it may be served. to: c/o CT Corporation System, 111 of NY (SSNY) on 05/19/11. Office 6/6/11. Office location: New York Co. SSNY shall mail copy of proc. to 8th Ave., NY, NY 10011, regd. agent loc.: New York Co. SSNY designated A&A 2011, LLC. Arts. of Org. filed SSNY designated as agent of LLC Att: Eric DeLamarter, 168 First Ave., upon whom process may be served. as agent of LLC upon whom process with Secy. of State of NY (SSNY) on upon whom process against it may be NY, NY 10009. DE off. addr.: CSC, IN and principal business addr.: against it may be served. SSNY shall 1/6/11. Office in NY County. SSNY served and address SSNY shall mail 2711 Centerville Rd., Wilmington, 8850 Crawfordsville Rd., Indianapolis, mail process to the LLC, 49 E 21st designated agent of LLC upon whom a copy of process is 54 West 39th DE 19808. Cert. of LP on file: SSDE, IN 46234. Cert. of Form. filed with IN ST APT 2D, New York, NY 10010. process against it may be served. Street, 15th Floor, New York, New York Townsend Bldg., Dover, DE 19901. Sec. of State, 302 W. Washington St., Purpose: any lawful act or activity. SSNY shall mail process to c/o 10018. Purpose: any lawful purpose. Name/addr. of each gen. ptr. avail. Indianapolis, IN 46204. Purpose: all Reinhardt LLP, 44 Wall St 10th Fl, NY, at SSNY. Purp.: any lawful activities. lawful purposes. NOTICE OF FORMATION OF ZNTAI NY 10005. Purpose: General. Notice of Formation of DON ANTONIO Records LLC. Articles of Organization RESTAURANT, LLC. Arts. of Org. filed NOTICE OF FORMATION of RACHEL Rogers Realty Group LLC. Arts. of filed with the Secretary of State of NY Notice of Formation of 306 WEST 97 with Secy. of State of NY (SSNY) on HOVNANIAN ART LLC. Arts. Of Org. Org. filed with Secy. of State of NY (SSNY) on 4/26/11. Office location: COVE CLUB EQUITIES LLC. Arts. of 05/19/11. Office location: NY County. filed with Secy. of State of NY (SSNY) (SSNY) on 4/12/11. Office in NY NEW YORK County. SSNY has been Org. filed with Secy. of State of NY Princ. office of LLC: 28 Iris Circle, Glen on 5/11/11. Office location: NY County. SSNY designated agent of designated as agent upon whom (SSNY) on 06/01/11. Office location: Rock, NJ 07452. SSNY designated County. SSNY designated as agent LLC upon whom process against it process against it may be served. The NY County. Princ. office of LLC: 55 as agent of LLC upon whom process upon whom process against the LLC may be served. SSNY shall mail Post Office address to which the Fifth Ave., 15th Fl., NY, NY 10003- against it may be served. SSNY shall may be served. SSNY shall mail process to 443 E 78th St, Bsmt, NY, SSNY shall mail a copy of any process 4398. SSNY designated as agent of mail process to Corporation Service process to Rachel Hovnanian Art LLC, NY 10075. Purpose: General. against the LLC served upon him/her LLC upon whom process against it Co., 80 State St., Albany, NY 12207- 16 West 12th St., NY, NY 10011. is: c/o Mario Larrea, 166 First Ave. #1, may be served. SSNY shall mail 2543. Purpose: Operate a restaurant. Purpose: any lawful act or activity. NOTICE OF FORMATION of TOLM New York, NY 10009. The principal process to Robert Kantor at the princ. ENTERPRISES LLC. Arts of Org filed business address of the LLC is: 166 office of the LLC, regd. agent upon Notice of Qualification of ALVAREZ & Notice of Qualification of BAYRIDGE with the Secy of State of New York First Ave. #1, New York, NY 10009. whom and at which process may be MARSAL GLOBAL ASSET ADVISORY SECURITIES, LLC. Authority filed (SSNY) on 03/25/2009. Office location: Purpose: any lawful act or activity. served. Purpose: Any lawful activity. SERVICES, LLC. Authority filed with with Secy. of State of NY (SSNY) on NY County. SSNY has been designated Secy. of State of NY (SSNY) on 5/5/11. Office location: NY County. as an agent upon whom process may Name of For. LLC: Perella Weinberg Notice of Qualification of Fillmore East 06/02/11. Office location: NY County. LLC formed in Delaware (DE) on be served and shall mail a copy of any Partners ABV Opportunity Delaware MS Finance Subsidiary, LLC. Authority LLC formed in Delaware (DE) on 10/7/10. SSNY designated as agent process against to the principal busi- Intermediate Fund III LLC. App. for filed with NY Dept. of State on 3/30/11. 06/03/10. Princ. office of LLC: Joel of LLC upon whom process against ness address:425 5th Ave, #59B NY, Auth. filed NY Dept. of State: 5/10/11. Office location: NY County. LLC A. Poretsky, Esq., Alvarez & Marsal, it may be served. SSNY shall mail NY 10016. Purpose: any lawful acts. Jurisd. and date of org.: DE 1/7/11 formed in DE on 2/24/06. NY Sec. of 600 Lexington Ave., NY, NY 10022. process to: National Registered Agents, Cty off. loc.: NY Cty. Sec. of State State designated agent of LLC upon SSNY designated as agent of LLC Inc., 875 Ave. of The Americas, Ste. NOTICE OF REGISTRATION of designated as agent of foreign LLC whom process against it may be served upon whom process against it may 501, NY, NY 10001. Principal office Newman & Morrison LLP. upon whom process against it may be and shall mail process to the principal be served. SSNY shall mail process address: The LLC, 825 Third Ave, 6th Certificate filed with Secy. of State of served. Sec. of State shall mail copy business addr.: c/o Windels Marx Lane to c/o Corporation Service Co. Floor, NY, NY 10022. Address to be NY (SSNY) on 4/5/11. Office location: of process to: 767 Fifth Ave., NY, NY & Mittendorf LLP, 156 W. 56th St., 23rd (CSC), 80 State St., Albany, NY maintained in DE: c/o National NY County. SSNY designated as 10153. Addr. of foreign LLC in DE is: Fl., NY, NY 10019, Attn: Tina Gagliano. 12207-2453. DE addr. of LLC: c/o Registered Agents, Inc., 160 Greentree agent of LLP upon whom process Corporation Service Company, 2711 DE addr. of LLC: c/o Corporation CSC, 2711 Centerville Rd., Ste. 400, Dr., Ste. 101, Dover, DE 19904. Arts against it may be served. SSNY shall Centerville Rd., Ste. 400, Wilmington, Service Co., 2711 Centerville Rd., Wilmington, DE 19808. Cert. of of Org. filed with DE Secy. Of State, mail process to the principal business DE 19808. Auth. officer in DE where Ste. 400, Wilmington, DE 19808. Form. filed with Secy. of State of John G. Townsend Bldg., 401 address: 44 Wall Street, 20th Floor, Cert. of Form. filed: DE Secy. of Cert. of Form. filed with DE Sec. of DE, 401 Federal St., Dover, DE Federal St., Ste. 4, Dover, DE 19901. New York, NY 10005. Purpose: State, Duke & York St., Dover, DE State, 401 Federal St., Dover, DE 19901. Purpose: Any lawful activity. Purpose: any lawful activities. Practice the Profession of Law. 19901. Purpose: any lawful activity. 19901. Purpose: any lawful activity.

40 | Crain’s New York Business | June 27, 2011 20110627-NEWS--0041-NAT-CCI-CN_-- 6/24/2011 8:42 PM Page 1

Hachette titles, particularly Elle, which has put it ahead of Condé Carey grows Hearst Nast in the number of ad pages in Black power shifting the women’s beauty and fashion cat- Continued from Page 1 which it will offer e-commerce op- egories in the U.S.That will give the Continued from Page 1 was censured by his colleagues. al magazine portfolio, including tions on its magazine websites and publisher a stronger bargaining po- a former state comptroller. “It’s in- Meanwhile, his seemingly end- U.S. division Hachette Filipacchi launched a partnership in which sition with advertisers, insiders say. teresting that all three are from less tenure has created a logjam of Media, added around 100 titles, Buddy Media will build social media “The nexus of the Hachette deal Brooklyn.” aspiring politicians. “In Harlem, dramatically increasing its interna- applications on Facebook for its titles. was for its unrivaled international Mr. Jeffries, 40, is believed to they’ve been waiting for that tap on tional reach. At home, it’s No. 2 in Mr. Carey has also been busy in- reach,” said magazine consultant hold the most promise. A former the shoulder,” observed a Democra- terms of circulation and advertising tegrating his division with Hearst Peter Kreisky. “But the less-antici- corporate attorney, he has been tic operative from Brooklyn. “Here, revenue, behind Time Inc. and Corp.’s iCrossing digital marketing pated impact is how it tips the com- floated as a mayoral candidate in I guess we’re a little more uncouth.” ahead of main rival Condé Nast. firm, so that publications can offer petitive balance in the U.S.” 2013 and has even been labeled Herman “Denny” Farrell has The addition of fashion title Elle its services to their advertisers. Executives at Condé Nast,which “Brooklyn’s Barack Obama.” served Harlem in the Assembly also lends Hearst some of the glam- Hearst paid $325 million for the recently beat Hearst to market with However, the Prospect Heights since 1974, the same year Harlem our more typically associated with company shortly before he arrived. a subscription model for its iPad edi- assemblyman is more likely to run Councilwoman Inez Dickens won Condé Nast, publisher of Vogue and “It’s amazing what he’s been able tions, insist they’re unfazed. for the congressional seat held by her first election, as a Democratic Vanity Fair. to accomplish in just one year,” said “Our focus is very much on the 27-year incumbent Rep. Edolphus state committee member. Mr. Far- “Elle is a gem of a brand that has Robin Steinberg, director of pub- creation of premium editorial con- Towns. In May, Mr. Jeffries rell, 79, wanted to run for led this industry,” Mr. Carey said, lishing investment at MediaVest. tent that reaches a very special audi- opened a fundraising ac- THE OLD City Council and council noting that in 2009, it sold more ad ence,not the pursuit of scale or size,” count for federal office. speaker in 2009, but the pages than Vogue.“Elle is going to be More, please said a Condé Nast spokeswoman. “There is no doubt that term-limits extension kept one of our absolute foundation busi- The new president still faces the But Hearst now has more Hakeem has a bright fu- those seats from opening.At nesses.” massive job of combining La- monthlies than anyone, and Mr. ture,” said Kathryn Wylde, 61, Ms. Dickens might get Mr.Carey has gotten high marks gardère’s titles with the 200 owned by Carey foresees that the company president of the business- her shot at the speakership for turning publishers into chief rev- Hearst. And the publisher will need will get even bigger. backed Partnership for New in 2013. enue officers in charge of their over- to put more resources into Harper’s In October,the publisher will be- York City. all brands and for encouraging a Bazaar and Elle if it’s going to com- gin a test run of HGTV Magazine, Mr. Camara and Mr. Brooklyn minefields more risk-taking culture. In the pete with Condé Nast, which is marking its second partnership with Adams are also champing at Charles Rangel Manhattan Democratic past, Hearst Magazines had a repu- known for spending lavishly on pro- Scripps Networks following the the bit. In June, Mr. Camara, Chairman Keith Wright, tation for being a tightly run com- duction and editorial, as well as on highly successful launch of Food a 40-year-old Baptist minis- 56, continues to eye Mr. pany that kept a close eye on costs. marketing programs for its clients. Network Magazine. Mr. Carey ex- ter, beat veteran state Sen. Rangel’s seat from Albany, The Hearst Family Trust did Mr. Carey also has to generate pects to expand the magazine port- Ruth Hassell-Thompson to where he has served in the green-light a $500 million splurge— excitement about Hearst’s digital folio overseas. And he’s not ruling become head of the powerful Assembly for almost 20 in cash—on its new headquarters properties and make the huge in- out adding titles in the U.S. New York State Black,Puer- years. State Sen. Bill tower on West 57th Street, but on vestment in iCrossing pay off. “We have the pole position when to Rican, Hispanic and Perkins,61,another possible more mundane matters, the parent “David has really upped it comes to monthlies,” he said.“So- Asian Legislative Caucus. Carl McCall Rangel successor,has been in company is always leery of anything [Hearst’s] digital game,” said Bren- lidifying our position is something Mr. Adams, 50, a former office since 1998. that smacks of extravagance. da White, a senior vice president at we’re very focused on.” Ⅲ police captain, has fostered “Bill Perkins and Keith In just the past few weeks, Hearst media buying agency Starcom. “He strong ties to state Senate Wright were Hakeem Jef- has opened digital think tank The needs to continue that momentum.” LISTEN to a discussion at Democratic Leader John fries and Karim Camara 10 App Lab, announced a deal under Hearst will be helped by the six CrainsNewYork.com/podcasts Sampson and has his sights years ago,” a Democratic set on becoming Brooklyn’s consultant said. “There’s no next borough president. place for young leaders to “Development is a complicated Unlike their Harlem David Paterson rise.” Condo conversions business,” Mr. Reuveni said. “I counterparts, all were early Brooklyn’s Big Three, strongly believe that if you build it supporters of Sen. Barack THE NEW however, have their own po- correctly and offer a quality product, Obama, not Hillary Clin- litical minefields to navigate Continued from Page 1 ects halted during the downturn or you will have a successful project in ton, during the 2008 presi- in a community where the verting them, wagering that the are units in new developments and any given market.” dential election. interests of African-Ameri- paucity of construction in recent older conversions that have yet to Similarly, BCN’s Mr. Nassi is fil- The Big Three, as some cans, Caribbean-Americans years and an improving economy sell out. ing conversion plans for 9 E.16th St. in the borough have begun and recent African immi- will combine to create a strong sell- He also points to other danger He expects to spend up to $3 million calling them, collectively grants can sometimes clash. ers’ market. signs: a high percentage of deals be- transforming the 15-unit, 30,000- represent a swath of central Mr. Jeffries has been reluc- “Now is an opportune time to do ing done on an all-cash basis— square-foot rental building, which Brooklyn that stretches tant to run against 76-year- a conversion,”said Craig Nassi,chief which indicates that homebuyers he bought for $17 million. from Fort Greene to Flat- Hakeem Jeffries old Mr. Towns, who has no executive of BCN Development, are still having a hard time getting BCN expects to close on the pur- bush. Despite white gentri- apparent plans to retire. Mr. which is working on two condo con- mortgages—plus stubbornly high chase of 184 Joralemon St. in fication, the area remains Jeffries would have to give versions—one at Union Square and unemployment and forecasts that Brooklyn Heights next month.The predominately black. up his Assembly seat to run another in Brooklyn Heights. profits on Wall Street could be plan is to spend up to $9.6 million “With all due respect to for Congress; and with only “Coming out of a three-year reces- crimped for years to come. turning the 12-story, 32,000- my friends in Harlem,” said $50,000 in his campaign war sion, inventory is drying up.” square-foot property into condos. strategist Robert Liff, a for- chest, he is millions behind BCN Development’s projects are 1,000 visitors a day “It’s a prestigious block, and mer spokesman for Mr. the mayoral contenders. among at least a dozen condo conver- Even developer Mr. Fetner ad- there is a lot of financing out there Rangel,“it’s a pretty powerful Karim Camara Republican triumphs in sions planned or in the works across mits there is “still some uncertainty” for smart projects,” Mr. Nassi said. base from which to operate.” last year’s state Senate races Manhattan and Brooklyn. These in the market. Nonetheless, he’s Even some of those who got sent Mr. Adams back into projects include conversions of 93 bullish on his property’s prospects— scorched during the downturn are Harlem backlog the chamber minority. Worth St., a 165,000-square-foot and with good reason. So far, 500 starting new projects. Sources said But the Brooklyn trio ad- Democrats’ defeat stemmed downtown Manhattan office build- people have signed up to preview the Harry Macklowe, who once owned mire Harlem’s political pio- in part from their controver- ing, and of 530 Park Ave., an Upper units at 1212 Fifth Avenue. Traffic the GM Building and other mid- neers, notably Mr. Rangel, sial choice of a politically East Side rental-apartment building. to the project’s website has run as town towers before losing them to former mayor David Dink- connected group to build a In an encouraging sign for sell- high as 1,000 visitors a day. his creditors, is in the process of ins,former New York Secre- Eric Adams gambling facility at Aque- ers, the number of apartments listed Others are also getting upbeat. scooping up a prized prewar rental tary of State (and father to a duct Racetrack; Mr. Adams for sale slipped in the first quarter to “We feel that market conditions building with 108 units at 737 Park governor) Basil Paterson, and the and Mr.Sampson played key roles in its lowest level since 2007, falling have stabilized, and we are looking Ave. to convert to condos.The price late Percy Sutton, who was a Man- the selection, which was rejected by 5.3% from the year-earlier period,to for new product for conversion,” is expected to be $250 million to hattan borough president. state gaming officials. 7,605, according to a report by Pru- said Roberta Axelrod, director of $255 million. “The Gang of Four has played a Mr. Camara vigorously opposed dential Douglas Elliman and ap- condo sales and conversions for Just last week, a participant con- significant role in their lives,” said same-sex marriage in 2009, though praisal firm Miller Samuel Inc. Time Equities Inc.,a real estate firm firmed,Mr.Macklowe closed on the Lupé Todd, a political operative he voted for it this year. In 2007, he Some experts, however, warn that has completed a number of $70 million acquisition of a 34-unit who is close to the Big Three. was arrested for drunken driving in that developers may be getting condo conversions in Manhattan. rental building at 150 E. 72 St., Yet Harlem’s overall influence in Albany. ahead of themselves. “Everyone is Shlomi Reuveni, executive vice which is also expected to become a black politics is waning. Harlem Some would insist that power in banking on the market improving,” president at brokerage Brown Har- condo property. proper has not been a majority- black politics has clearly shifted to said Jonathan Miller,chief executive rison Stevens Select,said he is work- Not exactly the GM Building.But black neighborhood for more than a Kings County. of Miller Samuel. ing with developers on three new as they say in many boom-and-bust decade. Only 26% of Mr. Rangel’s “Central Brooklyn has had the Mr. Miller notes that the city’s rental-to-condo conversion projects industries, you gotta restart some- constituents are black. And Mr. tendency to get pooh-poohed,” said “shadow inventory” remains high. in midtown east and the Upper where. Ⅲ Rangel has been a nonfactor in one operative. “Not anymore.” The term refers to the apartments West Side. He expects units from Washington since last fall, when he that developers aren’t actively mar- those projects to hit the market in six LISTEN to a discussion at lost his chairmanship of the House LISTEN to a discussion at CrainsNewYork.com/podcasts keting because they are part of proj- months to a year. Ways and Means Committee and CrainsNewYork.com/podcasts

June 27, 2011 | Crain’s New York Business | 41 20110627-NEWS--0042-NAT-CCI-CN_-- 6/24/2011 12:06 PM Page 1

FOR THE RECORD

in these listings should e-mail director, sold 187,500 shares of common chief operating officer, sold 88,303 descriptions following this format to stock at $25.89 on June 15, in a shares of common stock at $15.18 on ABOUT THIS SECTION [email protected], transaction worth $4,853,531. He now June 14, in a transaction worth directly holds 1,799,180 shares. $1,340,440. He now indirectly holds FOR THE RECORD is a weekly listing of information from the public record that with “Real estate transaction” in the subject line, or enter them online at 927,071 shares. can help businesspeople in the New York area find opportunities, potential crainsnewyork.com/submitadeal. Deals are ● Time Warner Cable Inc. (TWC) new clients and updates on competitors. listed in order of square footage. Glenn A. Britt, chairman and CEO, ● Tiffany & Co. (TIF) To ask questions or get more information on this section, contact Suzanne sold 39,968 shares of common stock at Jon M. King, executive vice president, Panara at [email protected]. COMMERCIAL prices ranging from $74.26 to $75.06 on sold 35,000 shares of common stock at ● The Gersh Agency has renewed its June 15, in a transaction worth $72.50 on June 16, in a transaction lease for another 10 years for 13,000 $2,976,886. He now directly holds worth $2,537,500. He now directly square feet at 41 Madison Ave., which is 83,026 shares. holds 18,063 shares. owned by the Rudin family. Augustus B. BANKRUPTCIES www.nyc.gov/buildnyc. To make Field IV of Cushman & Wakefield ● Bristol-Myers Squibb Co. (OSG) ● WebMD Health Corp. (WBMD) inquiries, contact Ben Perrone at represented the tenant, while Tom Carlo de Notaristefani, president, Steven Zatz, executive vice president, The following listings are selected from the (718) 391-2614. Keating represented the landlord in- technical operations and global support professional services, sold 30,000 shares most recent available filings by companies house. The asking rent was not functions, sold 106,382 shares of of common stock at prices ranging from seeking bankruptcy protection in the ● Department of Transportation disclosed. common stock at $27.76 on June 14, in a $46.67 to $47.91 between June 14 and Southern and Eastern Districts of New Requests proposals by 2 p.m. on July 12 transaction worth $2,952,803. He now June 15, in a transaction worth York. Information was obtained from U.S. for resident engineering inspection ● Paper Magic Group has signed a six- directly holds 8,432 shares. $1,414,811. He now directly holds Bankruptcy Court records available on services in connection with protective year renewal and expansion lease for 47,104 shares. Public Access to Court Electronic Records. coating on the Greenpoint Ave. Bridge 8,129 square feet at 1115 Broadway. ● Take-Two Interactive Software Inc. Listings are in alphabetical order. over Newton Creek. The RFP can be James Buslik, Jeffrey Buslik and (TTWO) ● Polo Ralph Lauren Corp. (RL) purchased from 9 a.m. to 3 p.m. To Nicholas Zagar of Adams & Co. Strauss Zelnick, chairman and CEO, Mitchell A. Kosh, senior vice president ● All City Industries Inc. make inquiries, contact Paul-Michael represented both the landlord and sold 88,303 shares of common stock at of human resources, sold 11,357 shares 166 New Highway, Amityville, L.I. Kazas at (212) 839-6314 or the bid tenant in the deal. The asking rent was $15.18 on June 14, in a transaction of common stock at prices ranging from Filed for Chapter 11 bankruptcy window at (212) 839-6314. $35 a square foot. worth $1,340,440. He now indirectly $121.00 to $121.31 between June 8 and protection on June 14. The filing cites holds 1,038,370 shares. June 13, in a transaction worth estimated liabilities of $1,000,001 to ● Health and Hospitals Corp. ● Richard Meier & Partners signed $1,375,843. He now directly holds 9,450 $10 million and estimated assets of Seeks competitive sealed bids by 2 p.m. an early renewal of a 10-year lease for Karl Slatoff, executive vice president and shares. Ⅲ $500,001 to $1 million. Among the on July 8 for the demolition of the Grace 18,500 square feet at 475 10th Ave., creditors with the largest unsecured Foundation isolation building. Bid owned by the Adler Group. Jim claims are Barker Steel, owed documents can be obtained by faxing a Robbins and Harly Stevens of CB $328,392.20; Metal Partners, owed request to (718) 980-1021. To make Richard Ellis represented the DEALS ROUNDUP $93,510.25; and Gerdau Ameristeel, inquiries, contact Pedro Irizarry at tenant, while the landlord was owed $78,864.21. (718) 317-3375 or pedro.irizarry@ represented in-house. The asking rent TRANSACTION SIZE seaviewsi.nychhc.org. was $30 a square foot. SELLER/TARGET (IN MILLIONS) BUYERS/INVESTORS TRANSACTION TYPE ● Amagansett Commons 551 Montauk Highway, Amagansett, GOODS AND SERVICES RETAIL The Blackstone Group $4,518.1 Reynolds Group Holdings Ltd. SB M&A L.I. ● City University of New York ● Fushimi has signed a lease for 7,200 private equity group (Manhattan), 475 Driggs Ave. Conversus Capital/ Filed for Chapter 11 bankruptcy Seeks competitive sealed bids by 2:30 square feet at , owned by Graham Packaging Co. protection on May 31. The filing cites p.m. on July 8 for a direct replacement Driggs Development. Diana Boutross of estimated liabilities of $10,000,001 to for the shark tank ArctiChill chiller and Winick Realty represented both the American International $4,198.3 Allied World Assurance Co. SB M&A Group Inc. (Manhattan)/ Holdings AG $50 million and estimated assets of Superchanger heat exchanger for the tenant and the landlord. The asking rent Transatlantic Holdings Inc. $1,000,001 to $10 million. Among the aquarium in the Marine Building at was not disclosed. (Manhattan) creditors with the largest unsecured Kingsborough Community College. ● M&F Worldwide Corp. $2,523.0 MacAndrews & Forbes Holdings Inc. FB M&A claims are Principi Builders Inc., owed To make inquiries, contact Julie Il Valentino signed a 15-year lease for (Manhattan) (Manhattan) (remaining 57.27%) $375,300; Principi Properties, owed Cardinali at (718) 368-4613 or 2,000 square feet at 1076 First Ave. Gary Warburg Pincus (Manhattan), $1,150.0 LM Ericsson Telephone Co. SB M&A $313,700; and Julio Vasquez, owed [email protected]. Dana and Rick Dana of Prudential Providence Equity Partners/ $90,000. Douglas Elliman’s Dana Commercial Telcordia Technologies Inc. ● Department of Parks and Recreation Group represented both the tenant and ● Warburg Pincus (Manhattan)/ $1,000.0 Laredo Petroleum SB M&A Millennium Real Estate Services Seeks competitive sealed bids by 3 p.m. the landlord. The asking rent was $115 a Broad Oak Energy Inc. 112 Nottingham Road, Bedford Hills, on June 30 to furnish all labor, materials, square foot. Westchester transportation, equipment and other Soros Fund Management $857.9 Horizon Acquisition Co. SB M&A ● (Manhattan), Albright Capital Filed for Chapter 11 bankruptcy work necessary for installation, The Wild Bird Fund has signed a Management/APR Energy Cayman Ltd. protection on June 1. The filing cites maintenance, repair and training of lease for 800 square feet at 565 Columbus Ave. Leucadia National Corp. $609.2 Not disclosed (2.97%) SB M&A estimated liabilities of $1,000,001 to network video-recording systems , owned by 67 West 87 Street Corp. (Manhattan)/ $10 million and estimated assets of citywide. To make inquiries, contact Brian Tregerman and Joseph Isa of Fortescue Metals Group Ltd. $1,000,001 to $10 million. The creditors Sandra Galante at (212) 830-7903 or Winick Realty Group represented both Insight Venture Partners $523.9 DG FastChannel Inc. SB M&A with the largest unsecured claims are [email protected]. the tenant and the landlord. The asking (Manhattan), BRM Group, Hogan & Rossi, owed $35,526.09; rent was not disclosed. VPartners, Cubit Investments Ltd./ Insite Engineering Surveying & ● Economic Development Corp. MediaMind Technologies Inc. Landscape Architecture, owed $13,566; Requests proposals by 4 p.m. on August (Manhattan) and JFM Architect, owed $10,000. 9 for the fit-out and programming of the STOCK TRANSACTIONS Telecommunications $260.0 Time Warner Cable Inc. (Manhattan) SB M&A Pier 15 Maritime Pavilion and berths Management/Telecommunications ● Shaker Gardens Inc. lease. The RFP can be obtained at Following are recent insider transactions at Management cable systems 3317 Avenue N, Brooklyn www.nycedc.com or at 110 William St., New York’s largest publicly held companies VenGrowth Asset $210.6 Amdocs Ltd. SB M&A Filed for Chapter 11 bankruptcy sixth floor, in Manhattan from 9:30 a.m. filed with the Securities and Exchange Management Inc., Crescendo protection on June 13. The filing cites to 4:30 p.m. There will be an Commission by executives and major Partners (Manhattan), Crescendo estimated liabilities of $1,000,001 to information session at 10 a.m. on shareholders. Listings are in order of Partners II Series M (Manhattan)/ $10 million and estimated assets of July 7 at the same location. To make transaction value.The information was Bridgewater Systems Corp. $1,000,001 to $10 million. Among the inquiries, contact Maryann Catalano obtained from Thomson Reuters. Express-1 Expedited $75.0 Jacobs Private Equity (Manhattan), GCI creditors with the largest unsecured at (212) 312-3969 or Solutions Inc. individual investors claims are N.C. Caller, owed $635,000; [email protected]. ● Scientific Games Corp. (SGMS) Morgan Stanley Real Estate $60.1 Immofinanz AG SB M&A Aron Tessler, owed $400,000; and Ronald O. Perelman, independent Fund Inc. (Manhattan), Tiger Landlord Services I, owed $32,000. ● Health and Hospitals Corp. director, purchased 1,000,000 shares of Global Management (Manhattan), Lehman Brothers U.K. Holdings Ltd./ Seeks competitive sealed bids by 9:30 common stock at prices ranging from Adama Holding Public Ltd. a.m. on July 18 to fabricate and replace $8.79 to $9.20 between June 13 and GOVERNMENT CONTRACT two air-separator tanks for compressed June 15, in a transaction worth ARC Financial Corp./ $50.0 Linc Energy (Alaska) Inc. (Manhattan) SB M&A Renaissance Alaska OPPORTUNITIES medical air for the engineering and $9,035,701. He now indirectly holds maintenance department at the North 31,716,600 shares. SF Capital Partners investment $33.7 Multiband Corp. SB M&A Following are selected contract Brooklyn Health Network. Bid arm, AWM Investment Co. ● (Manhattan), Riley Investment opportunities recently announced by New documents can be purchased at the C.R. Bard Inc. (BCR) Management, Lloyd I. Miller, B. Riley & Co. York City agencies.To learn how to sell Cumberland Diagnostic and Treatment Todd C. Schermerhorn, senior vice investment arm/WPCS International Inc. goods and services to city government, visit Center, 100 North Portland Ave., president and chief financial officer, sold Lumos Labs Inc. $32.5 Menlo Ventures, Norwest Venture GCI www.nyc.gov/selltonyc. For a searchable room C-32, in Brooklyn. To obtain 13,173 shares of common stock at prices Partners, FirstMark Capital (Manhattan), database of current procurement notices, the bid documents free of charge, ranging from $110.71 to $111.49 on Harrison Metal Capital visit www.nyc.gov/cityrecord. Listings are e-mail Millicent Thompson at June 1, in a transaction worth Warburg Pincus (Manhattan)/ $31.2 Max India Ltd. (additional 16.37%) SB M&A alphabetical by category and department. [email protected]. $1,458,487. Between June 10 and June Max Healthcare Institute Ltd. org. To make inquiries, contact her at 17, he sold 60,000 shares of common Rio Garment S. de R.L. $23.0 Hampshire Group Ltd. (Manhattan) SB M&A CONSTRUCTION SERVICES (718) 260-7686. stock at prices ranging from $109.08 to ● Department of Design and Construction $110.06, in a transaction worth Selected deals announced for the week ended June 18 involving companies in metro New York. FB M&A: Financial buyer M&A represents a minority or majority acquisition of existing Seeks competitive sealed bids by 11 a.m. $6,549,951. He now directly holds shares of a company with the participation of a financial buyer. GCI: Growth capital investment on June 30 for the construction of REAL ESTATE DEALS 119,481 shares. represents new money invested in a company for a minority stake. SB M&A: Strategic buyer sanitary and storm sewers and M&A represents a minority or majority acquisition of existing shares of a company without the appurtenances in Staten Island. Bid Companies that would like to have ● CBS Corp. (CBS) participation of a financial buyer. source: capitaliq documents are available at details of their recent transactions appear Leslie Moonves, president, CEO and

42 | Crain’s New York Business | June 27, 2011 20110627-NEWS--0043-NAT-CCI-CN_-- 6/24/2011 8:17 PM Page 1

aters are booked with what are likely to be long-running productions. Off-Broadway’s woe: Broadway transplants If Broadway shows continue to follow in the footsteps of Avenue Q, Continued from Page 2 ranks of critics focus on big shows. tried various marketing approaches, Keen, executive director of New soon, none of the larger off-Broad- off-Broadway fare, which doesn’t In addition to Play Dead, a num- including offering free tickets to World Stages on West 50th Street— way houses will be available. have a pre-existing brand, further ber of other off-Broadway shows waiters from restaurants near the where all the Broadway shows have At least one theater owner hopes down the food chain.” haven’t been able to make it. Lucky Union Square Theatre in the hope gone, so far—believes they help to increase capacity.Catherine Rus- Mounting an off-Broadway show Guy, about an aspiring country mu- that they would spread the word to reinvigorate off-Broadway. sell, general manager of the Snapple has never been for the faint of heart. sic singer and two villains who try to diners. But the house was less than Theater Center, at West 50th and Making the weekly nut is tough, steal her song, closed on May 29, half-full many nights. Advantage for the few Broadway,is looking to develop two with average ticket prices of just just 10 days after opening. Desperate “It’s hard to find an audience,” “The new works get the advan- new complexes in midtown—one $37.50—versus about $80 on Writers, a comedy that did well in its Ms. Schreiber said. Additionally, tage of being co-branded with the with two 249-seat theaters, and one Broadway—and 499 the maximum first run in Los Angeles, shuttered with so many Broadway and off- Broadway transfers,” Ms. MacKeen with two 249-seat theaters and a 99- number of seats. And with weekly on June 25 after just 21 previews and Broadway shows discounting tick- said. seat stage.She expects to sign a lease advertising budgets of about 23 performances. ets,“our prices have to go way down” The ones enjoying that advan- for one of the complexes within six $5,000, compared with Broadway to be competitive. tage, however, are the few able to weeks. shows’$75,000,promotional efforts Search for audience Of course, theater owners who snag space at her jam-packed com- “There are more projects in the hinge on reviews, which are getting Catherine Schreiber, lead pro- benefit from the trend have a more plex. Though Ms. MacKeen said works out there than there are the- harder to come by as the thinned ducer of Desperate Writers, said she positive attitude. Beverley Mac- producers call daily,three of her theaters right now,” Ms. Russell said. Ⅲ Sweets go mini

Continued from Page 3 parties. He initially handed out small cupcakes—which he calls “cake shots”—as samples, but put them on the menu four years ago when he realized that there was a market for them. Five vs. one Mr. Rozier, who also wholesales How do you build his merchandise to Bloomingdale’s and Café 71, now sells an average of 100 dozen cake shots and 60 dozen standard cupcakes a day. one of the largest “People don’t want to feel like a pig eating a gigantic cupcake, but they’ll have five of the smaller banking groups ones,” he said. To differentiate his brand, Mr. Rozier lets customers design their own concoctions, complete with in the world? frosting and other toppings, such as gummies and marshmallows. He also offers ice cream-cupcake com- One relationship bos.Total sales are up 30% this year, he said. Smaller treats fill a niche, with more Americans focused on health- at a time. ier eating and avoiding carbohy- drate-laden sweets. In March, Starbucks introduced a line of small cupcakes, pops, whoopie pies and doughnuts to appeal to afternoon customers looking for a tidbit to complement their caf- Union Bank, a proud member of MUFG, a top ten global financial group, is consistently recognized feine fix. (A double-fudge mini on measures of relationship management and customer satisfaction. If you want a banking partner doughnut packs about 130 calories, for example, versus the full-size ver- that offers committed levels of service, a wide global reach, and deep expertise across a range of sion’s 420.) industries, talk to us. You deserve a financial partner that can help keep your business moving forward. The company recently posted net revenues up 12% for the quarter ended April 3 from the year-earlier period, to $2.8 billion, though the Our newest commercial banking office is now open in New York City. increase is of course not due solely to minis. Corporate and Institutional Commercial Treasury Cute factor Treasury Services: Services: Eight-year-old Sugar Sweet J. Todd Gregory Les Goodwin Sunshine added mini cupcakes two Executive Vice President Senior Vice President years ago after receiving several re- 877-815-9243 800-449-9041 quests for them. The extra labor involved in scooping the batter and frosting minis is worth it, according ©2011 Union Bank, N.A. to co-owner Peggy Williams. Union Bank is a proud member of the Mitsubishi UFJ Financial Group (MUFG), “The size does make a differ- one of the world’s largest financial organizations. Source: Greenwich Associates’ 2010 Excellence Awards ence in terms of people being calo- Source: Phoenix-Hecht 2010 Treasury Management Monitor™ rie-conscious, and there’s a cute factor for sure,” Ms. Williams said. unionbank.com/moveyourbusinessforward “Anything you can add to your repertoire that sells is going to help your business.” Ⅲ

June 27, 2011 | Crain’s New York Business | 43 20110627-NEWS--0044-NAT-CCI-CN_-- 6/24/2011 8:42 PM Page 1

controversy, and companies going ment firms earlier this year warning been slow to change. Leaders of the the extra mile.” them to “scrutinize proxy advisory operating engineers’ two unions, Watchdog The responses from Verizon, J.P. firms for bias and errors.” The mis- Cranes which have a combined 6,500 mem- Morgan and others are part of an ef- sive followed its release of a report bers, did not respond to calls. Continued from Page 4 fort to counter ISS, led by the Cen- accusing the watchdogs of sloppy re- Continued from Page 3 The unions have drawn attention compensation and benefits. ter on Executive Compensation. search and conflicts of interest, and members are the key cogs in con- in part because their salaries are When ISS doesn’t provoke The center is part of the HR Policy recommended they be subject to ad- struction projects,have had little in- among the highest in the industry. change, it at least makes companies Association, a Washington lobby- ditional government regulation. centive to give in. Tower crane operators earn salary and squirm.Its observation that Verizon ing firm with 325 members, includ- As the center points out, ISS not “They control the work site; they benefits packages worth up to $97.93 Communications provides “signifi- ing IBM, Merck and McDonald’s. only critiques companies’ gover- control the movement of men and an hour,while oilers cost employers as cant payouts for below-median per- After last year’s Dodd-Frank law nance practices but also provides materials,” said Louis Coletti, presi- much as $73.44 an hour. formance” generated a 2,500-word required companies to conduct say- consulting services to help them im- dent of the Building Trades Employ- Industry officials have also allud- letter to shareholders from the tele- on-pay votes, Mr. Bartl said, his prove. Its report didn’t offer exam- ers Association. “That’s what’s given ed to the unions’ checkered past. A com giant sticking up for itself. group urged members to defend ples of how the situation specifical- them their power over the years.” federal mob investigation in the ear- “ISS forced companies to reso- their compensation practices more ly influences ISS research analysts. The operating engineers, an in- ly 2000s found that since at least the licit shareholders and explain them- vigorously,such as by sending letters ISS pulled no punches in its re- sular group who pass jobs down to 1980s, the Colombo and Genovese selves,” said longtime executive pay to shareholders explaining why they sponse to the report. “The center family members, have long been the crime families had exercised a “cor- critic Timothy Smith, a senior vice disagreed with ISS or Glass Lewis. represents disgruntled executives outliers of the construction indus- rupt influence” within Local 14. president at Walden Asset Manage- The center also sent a letter to from a small cadre of corporate is- try. Even within organized labor, Twenty-six officers, representatives ment. “There’s more debate and 100 of the nation’s largest invest- suers,” it said at the time. Ⅲ there is a perception that they’ve and members of the union were convicted of racketeering. Local 14 agreed to bring in an ethics attorney and a hearing officer. Jeffrey Grebelsky, director of the Construction Industry Program at Cornell University ILR School,says the portrayals of exorbitant pay is unfair. “Walk around the city and watch those operating engineers work. They are incredibly skilled, well-trained workers,” he said. “I’m not saying there shouldn’t be a care- ful look taken at work rules, but if there’s a problem, it’s an anomaly. Deal with the problem. Don’t paint with a broad brush.” Rank and filers from other trades agreed. “As an iron worker, literally, my life was in the hands of the crane operator,” said Pete Herman, a 20-year member of Ironworkers Local 361. “I’d be on top of the column when a 10-ton piece of steel is swinging. When I’m standing on top of that column, I’d say, ‘Buddy, you’ve got a good touch.’I was amazed at the way they could sit and put the steel right there and keep me safe.” Operating engineers’ last strike was in 2006, when the General Contractors Association sought changes in work rules.Thousands of workers were sent packing, and billions of dollars in projects came to a standstill. A settlement included minor concessions and hefty raises. This time, building contractors are digging in their heels, citing a sour economy and growing competition from nonunion labor. “We have to have reform,” said Mr. Coletti.“Every work rule has to be a productive work rule. Every job has to be productive.” Other trades appear on their way to agreements or extensions, but a strike by the operating engineers could silence nearly $10 billion worth of private-sector construction at more than two dozen major sites, according to a survey of owners by the Real Estate Board of New York. Because it would be difficult for other trades to do their jobs without the operating engineers, a walkout could idle 11,000 workers. Builders are preparing for a strike, stockpiling materials on high floors so work can continue—a process known as “loading up the job”—and trying to figure out how workers will get to locations which can be hundreds of feet up. But without the “good touch” of the crane operators, work won’t be able to continue for long. Ⅲ LISTEN to a discussion at CrainsNewYork.com/podcasts

44 | Crain’s New York Business | June 27, 2011 20110627-NEWS--0045-NAT-CCI-CN_-- 6/24/2011 11:26 AM Page 1

The average smartphone user now spends 9% more time on mobile apps than on the Web BUSINESS LIVES Source: Flurry

HOT JOBS EXECUTIVE INBOX WHEN MORE IS TOO MANY: While rescuing hoarded animals, Jennifer Sarasky Anne Fisher EXECUTIVE DIRECTOR also counsels the misguided ORGANIZATION Reboot people who keep them. JOB DESCRIPTION Serve as the Steer clear of key fundraiser, strategist and manager the passion trap MOST IMPORTANT TASKS IT’S A PARADOX: Passion is an Fundraising and determining the essential part of what drives organization’s future course people to start companies. Yet it CREDENTIALS NEEDED Ability to seems that the more devoted you lead, raise funds and connect with are to your concept, the more multiple constituents likely you are to ignore danger signs and run straight off a cliff. SALARY Mid-$100,000s John Bradberry calls that RECRUITER Sandler Search scenario “the passion trap.” Head Associates of a consulting firm based in Charlotte, N.C., that has coached DOWNSIDE Up to 20% of time many New York startups, Mr. spent on domestic travel Bradberry is also the author of UPSIDE Opportunity to lead a 6 Secrets to Startup Success: dynamic network and develop How to Turn Your Entrepreneurial creative projects Passion Into a Thriving Business. Reboot is a Jewish network made “No idea is great until up of the country’s leading young customers have demonstrated activists and entrepreneurs. The that they’re willing to pay for it,” network shares the common goal Mr. Bradberry observed. of “rebooting” the culture, rituals Yet time and time again, he and traditions it has inherited in has worked with business owners order to make them resonate for a whose blind enthusiasm “has new generation. caused them to cling to an idea —IRVIN IBARGUEN past the point where the market has rejected it,” he said. One indication that you may be caught in the passion trap: a EXECUTIVE MOVES lack of objectivity about whether you’re really able, or willing, to run The Peninsula New the firm past the startup stage. York: Jonathan H. buck ennis In his book, giving an example Crook, 45, was of an entrepreneur who got it appointed general manager of the hotel. GOTHAM GIGS right, Mr. Bradberry tells the story He previously held of Mark Kahn, who launched the same post at The TraffIQ in 2006. The Manhattan Peninsula Manila. online media-planning and Newcast: Jacqueline Fernandez, 40, joined -buying platform snagged the as director, brand entertainment for No. 50 spot on Inc. magazine’s Zenith Optimedia’s branded- Excessive-Pet Savior 2010 list of the fastest-growing entertainment division. She was previously account manager at V-Media. companies in the United States. Fidelis Care: Dr. Chris The first thing Jennifer Sarasky saw was the six pit bulls tethered to While he retains a board seat Wang, 58, joined the Animal the sofa.Three others stood on a table, and three paced in each of the and a chunk of equity, Mr. Kahn health insurance stepped down from the CEO company as vice hoarders two bedrooms of the cluttered apartment in Williamsburg, position in March 2010. president, medical Brooklyn. One dog stood on the washing machine, and another “I wanted to do what was best director. He was most are often recently medical huddled in a closet. ¶ It wasn’t an unusual scene for Ms. Sarasky. As for TraffIQ at this stage of the director, Queens leader of an intervention program at the American Society for the company’s growth,” he explained Health Center, for the Employee Benefit people recently. Fund of the New York Hotel Trades Prevention of Cruelty to Animals, she spends plenty of time in the “Mark avoided the passion Counsel Association of New York City. who don’t homes of animal hoarders. ¶ Though we may think of hoarders as trap by subordinating his ego,” Olshan Grundman Frome Rosenzweig & housebound eccentrics with dozens of cats or mutts, Ms. Sarasky’s Mr. Bradberry observed. Wolosky: Andrew Lustigman, 44, joined mean any the law firm as head of advertising, clients have included a Yale academic and other professionals. ¶ Mr. Kahn is now starting an marketing and promotions. He had harm “These are often people without bad intentions,” said the 28-year- online enterprise called Citypath, been principal at The Lustigman Firm. which will offer recommendations Scott A. Shaffer, 44, joined as partner. He old Bronx native, but hoarding easily leads to abuse and neglect. Her on everything from new was formerly a partner at The job is to head that off. Ms. Sarasky has helped rescue 352 animals restaurants to after-school Lustigman Firm. programs. Citypath will launch in Adam Z. Solomon, 35, joined as partner. since the program began in April 2010 and is currently handling 30 He had previously been a partner at The cases from her office in Long Island City, Queens. ¶ Ms. Sarasky, New York later this summer. Lustigman Firm. who shares her home in Poughkeepsie, N.Y., with two dogs, two cats Jonathan I. Ezor, 44, joined as of counsel. DO YOU AGREE that one can be too pas- He was previously special counsel at The and a parrot, said, “I try not to watch Animal Planet.” sionate about a business idea? Tell us See EXECUTIVE MOVES on Page 46 —shane dixon kavanaugh at www.crainsnewyork/execinbox.

June 27, 2011 | Crain’s New York Business | 45 20110627-NEWS--0046-NAT-CCI-CN_-- 6/24/2011 11:27 AM Page 1

RÉSUMÉ REVIEW Stepping into the dance Is your job search all it could be? We ask the experts. ny is the versatility of the dancers,so ror and saying, “Is this really me?” I NAME CHRISTINE GLAVASICH Alvin Ailey’s artistic I want to continue to stretch them to remember being that 12-year-old SUMMARY director will bring in be able to tackle most anything. It boy from Miami who was bused Construction cost manager and consultant challenges the audience and keeps from my school to see Alvin Ailey edgier productions them on their toes, no pun intend- for the first time and being in awe. PROFESSIONAL EXPERIENCE ed, but also challenges my dancers, Now I have the opportunity to G2 Project Planning Inc., Beacon, N.Y. and continues to give them food for make sure the company stays aloft Principal/senior estimator and cost BY MIRIAM KREININ SOUCCAR thought.That makes the experience so that some other young person manager, 1998-present on stage very real. can have that transformative expe- Hanscomb Associates Inc. obert Battle, the new rience. Senior estimator and cost consultant, 1988-1998 artistic director of Alvin You are starting a “choreog- NICO Construction Co. Ailey American Dance raphers in residence” program. The board did a two-year search. Project assistant and junior estimator, 1984-1988 What do you hope to achieve? Why do you think they chose you? Theater, officially takes REPRESENTATIVE PROJECT EXPERIENCE Rthe reins on July 1.The 38-year-old As a choreographer who I can only say some of the MTA/New York City Transit Juilliard-educated choreographer has had to scrape and claw things Ms. Jamison has said. Rehabilitation of the Times Square subway station assumes control from Judith Jami- to get studio space, trying The biggest compliment is son, making him only the second to make work on the go is a that in some ways,I remind her MTA/Metro-North Railroad person in this very difficult thing. I’m of Mr. Ailey. In terms of [Mr. Croton-Harmon and Peekskill station improvements; Grand Central job besides interested in try- Ailey’s] generosity of Terminal kit-room expansion Mr. Ailey ing to nurture spirit and that I William Patterson University, Wayne, N.J., science complex renovation Kings County Hospital Center, comprehensive redevelopment MOVERS & himself. Now the next gen- know the joy and SHAKERS on tour with eration. the power of EDUCATION the Ailey dance. Marist College, A.B.A.-approved paralegal certification, 2011 troupe in What does Baruch College, M.B.A., administration and finance, 1997 Robert Russia, the this job mean Do you still Monmouth University, B.A., English, 1984 to you? dance? choreogra- Résumé appears in condensed form. Battle pher recently I’ve been No. You’re announced in a whirl- most likely to EXPERT ADVICE his first sea- wind of see me playing An excellent résumé tells the story of a career showing purpose, son for the storied company. He emo- the piano in a progression and relevance. Christine must make her history come further plans to bring in edgier productions, tions. studio when alive by selecting prominent projects from the representative experience like dances infused with hip-hop.At Everything it’s empty.That’s list that highlight her ability to deliver projects on time and on budget. the same time, he will maintain its from being where my creative —dick batten, director, Karp Resources tradition of featuring landmark naturally nerv- outlet is. To stay in works created by Mr. Ailey. ous, being com- shape now, I just get To contact this candidate or to be featured in “Résumé Review,” e-mail us pletely excited, on the treadmill. I at [email protected]. Why is it important to bring in to every now need something different genres of dance? and then look- mindless that I can One of the bedrocks of the compa- ing in the mir- tackle. Ⅲ

EXECUTIVE MOVES Lafargue, 39, was promoted to executive She was previously a principal at Ernst Pro-Ad PAC: Matt technical strategist for FX Solutions. vice president from senior vice president & Young. Seiler, 49, was Guggenheim Partners: Michael Carrieri, at the independent music publisher. Robert Limerick, 46, joined as managing appointed chairman of 49, joined as chief financial officer of Continued from Page 45 Faith Newman, 45, joined as senior vice director, global information reporting the Professionals in Guggenheim Global Trading, the Lustigman Firm. president, creative and business practice. He was most recently Advertising’s political proprietary trading desk of the global Sheldon S. Lustigman, 69, joined as of development. She was most recently managing director at Bank of New York action committee. He financial services firm. He was previously counsel. He founded The Lustigman head of business development at Verse Mellon. is chief executive of an accounting, operations and Firm. Music Publishing. Jon Lakritz, 51, joined as managing Mediabrands, infrastructure consultant for Blue Ridge Dickstein Shapiro: Eric B. Fisher, 40, PricewaterhouseCoopers: Richard H. director, global information reporting Interpublic Group’s Capital. joined the law firm as partner. He was Neiman, 60, joined as vice chairman of practice. He was previously vice media division. Michael Leopardi, 32, joined as director previously a partner at Butzel Long. the global financial services regulatory president at J.P.Morgan Chase. New Street Realty Advisors: Max Dylan of operations for GGT.He was most Stefanie Birbrower Greer, 36, joined as practice. He had been superintendent of Hudson Realty Capital: Lu, 30, joined as associate broker. He recently director of operations for partner. She was previously of counsel at banks for the state of New York. Niko Paliouras, 40, was most recently principal at M Shumway Capital. Bingham McCutchen. Ellen Rotenberg, 39, joined as tax joined the real estate Properties. Santosh Varki, 57, joined GGT as chief Barry N. Seidel, 57, joined as partner. He partner. She was previously national tax fund manager as vice Clash Media: Kevin Van Lenten, 33, technology officer. He was previously a was previously a partner at Butzel Long. leader, banking and finance, at KPMG. president, asset joined as vice president of media at the consultant at Goldman Sachs. Reservoir Media Management: Rell Jennifer Daniels, 42, joined as principal. management. He was performance and interactive media Thomas Wynn, 30, joined as chief previously an asset company. He had been vice president of compliance officer for GGT.He was manager at Gramercy business development most recently a compliance officer at Capital Corp. at Adknowledge. Highbridge Capital Management. CORPORATE LADDER Steven Parrinello, 32, joined the Savanna: Kevin Hoo, David Worley, 54, joined as general company as vice president, 31, joined as vice counsel for GGT.He was previously originations. He was previously an president of the real general counsel and chief compliance NEW MEDIA JOB FOR FINANCIAL PRO investment officer for real estate at estate private equity officer at Guggenheim Advisors. ANDREW P. HINES, 71, joined RHI Entertainment as executive vice president CapitalSource Finance. and asset management Jules Buxbaum, 52, joined GGT as chief and chief financial officer. Mr. Hines, who most recently held the same TidalTV: Kevin Gannon, 38, joined the firm. He was risk officer. He was formerly director of positions at World Color (now part of Quad/Graphics), will direct all aspects video advertising firm’s New York office previously director of quantitative research at Munich Re. of the company’s financial management and accounting activities. as director of platform sales. He was commercial leasing and sales for Sheryl Kaye, 47, joined GGT as director previously vice president, director of Tishman Speyer Properties. of recruiting and due diligence. She was RHI develops, produces and distributes television programming. Its new business at Varick Media. High Road Capital Partners: Dan Gaspar, most recently chief operations officer, 2007 miniseries Tin Man had the biggest audience in the history of the Sci Fi Matthew Jamison, 32, joined the New 32, joined the private equity firm as vice non-Japan Asia, at Morgan Stanley. Channel. York office as director of platform sales. president. He was most recently vice Duff & Phelps Corp.: Peter J. Neckles, 63, Mr. Hines also founded and managed Hines & He previously worked as senior director president at Gotham Private Equity joined the financial advisory and provider Associates, a management consulting firm that of national sales at [x+1]. Partners. of investment banking services as specialized in advising clients in the entertainment, Hudson Meridian Construction Group: Wolters Kluwer Law & Business: Alan managing director. He had been a partner Richard Woolley, 39, joined as vice Scott, 48, joined as chief marketing at Skadden Arps Slate Meagher & Flom. sports and retail industries. He has also served president of construction services. He officer of the information and software —jonas altman-kurosaki since 2009 as an independent director for Hughes was previously in charge of estimating solutions provider. He was previously Telematics. and purchasing at Building and Land senior vice president and chief A certified public accountant, Mr. Hines earned Technology. marketing officer for Dow Jones’ EXECUTIVE PROMOTIONS Mancini Duffy: a bachelor’s degree in business administration John Sadlon, 41, was enterprise media group. The fastest way to get an announcement into from St. John’s University. promoted to managing director, New FXDD: James Chen, 39, joined the foreign Crain’s is to submit online. Fill out the form York, from principal and studio director exchange dealer in the newly created at www.crainsnewyork.com/section/ —JONAS ALTMAN-KUROSAKI at the architecture and interior design role of director of technical research and executive_moves. The Executive Moves column firm. education. He previously served as chief is also available online.

46 | Crain’s New York Business | June 27, 2011 Project3:fp template.qxd6/21/1112:09PMPage1

©2011 Consolidated Edison Company of New York, Inc. Ad: Arnell Group CONNECT WITHTHE OR CALL 1-877-870-6118 WITH MONEY-SAVING PROGRAMSONLIGHTINGUPGRADES. THE GREENTEAM Mark’s lighting upgrades VALUE: VALUE: TOTAL MARK: COVERED: GREEN COST TO COST TO TEAM “Amazing. The savings savings The “Amazing. were too good to pass up.” pass to good too were $650 $1,500 (70%) 2,150 $ —Mark, —Mark, HELPEDA WE’LL HELP YOU SAVE GREEN TEAM Owner, ACT NOW. OFFER. TIME LIMITED

Franzoso Contracting, Inc., Franzoso Contracting, BUSINESS IN WESTCHESTER BUSINESS INWESTCHESTER PERIOD: PAYBACK PROJECTED SAVINGS: MONTHLY ESTIMATED AT AT CONED.COM/GREENTEAM

$100 6.5 months 6.5 See howI’msavingatconEd.com/Mark Croton-on-Hudson, NY + Scan toseeMark’s story. *Based on eligibility on *Based * 20110627-NEWS--0048-NAT-CCI-CN_-- 6/24/2011 6:53 PM Page 1

engineer, Carl Bell, pleaded guilty patients are bound to take some of to fraud and kickback charges. the pleasure out of anyone’s next THE Thus far, 12 years of delays and cost post-meal smoke for sure. … THE overruns have brought the price tag WORLD TRADE CENTER RETAIL WEEK of the city’s timekeeping project to COURTSHIP between the Port at least $600 million. … KIDS Authority of New York & New APPARENTLY CAN’T GET ENOUGH Jersey and the Westfield Group ON THE OF THE CHILDREN’S MUSEUM of took another step toward the altar Manhattan.The 28-year-old as the agency informed the Sydney- institution is on pace to see a record based mall operator that it needs a WEB 400,000 visitors pass through its final answer on the $1.45 billion, doors in the current fiscal year.The 360,000-square-foot project by JUNE 20-24 museum’s next project is an mid-fall. … WHEN IT COMES TO exhibition aimed at encouraging IMMIGRANT ENTREPRENEURSHIP, young people to stay healthy. … no one does it better than Kings CRAINSNEWYORK.COM roussel matthieu THE FOOD AND DRUG County, according to the ADMINISTRATION DARED somewhat-partial Brooklyn J.P. MORGAN CHASE & CO. DIDN’T SMOKERS TO LIGHT UP by releasing Chamber of Commerce. Half of Walmart gets a break in court SAY “SORRY,” but it agreed to pay nine new warning labels that small businesses in the borough are he Supreme Court ruled unanimously that an enormous $148 million to settle a Securities depict—in all-too-vivid detail that owned by immigrants, compared and Exchange Commission lawsuit only a Mayor Michael Bloomberg with 46% citywide. Building and Tsex discrimination lawsuit against Wal-Mart Stores Inc. alleging it misled investors in a would love—the negative health food service top the list of sectors could not proceed as a class action, reversing a lower mortgage transaction gone wrong. effects of tobacco use. If smoking where foreign-born entrepreneurs court decision.The suit potentially could have involved up to Its Square CDO 2007-1 deal was doesn’t kill you, the FDA’s pictures are thriving. similar to Goldman Sachs Group of corpses and tracheotomy —jermaine taylor 1.6 million women. ¶ A related but much closer 5-to-4 ruling Inc.’s infamous Abacus deal, which in the case is also being seen as a boon for business interests. resulted in a $550 million The second majority opinion sets a higher bar for the evidence settlement.The SEC said J.P. HOORAY! OY VEY! that groups of plaintiffs must provide to prove institutional Morgan misled investors by HARRY POTTER THE FED’S BEN neglecting to tell them that a hedge is finally going BERNANKE says wrongdoing at large companies. ¶ Of course, the ruling was fund client helped pick the deal’s digital. J.K. the economy is welcome news for the world’s largest retailer—especially as it assets and then bet against them. … Rowling is definitely releasing all growing more continues its multiyear effort to open stores in New York City. SPEAKING OF ALLEGED seven titles slowly than UNDERHANDEDNESS, federal as e-books. expected. The chain’s critics here have long pointed to the bias case as prosecutors rolled out new charges evidence of Walmart’s poor business practices, brandishing it as in the CityTime case, even as the

another reason to keep the nonunion company out of town. primary contractor’s chief systems bloomberg news

WE INVITE YOU TO Close Your E-mail AND OPEN A WINE LIST.

155 E 42nd St, The Chrysler Center · 212 953 2000 · 120 W 51st Street, Time-Life Building · 212 246 0154 120 Broadway, on Nassau at Pine Street · 212 374 1811 · thecapitalgrille.com

48 | Crain’s New York Business | June 27, 2011 20110627-NEWS--0049-NAT-CCI-CN_-- 6/23/2011 5:09 PM Page 1 chemex / INSATIABLE CRITIC NETWORKING RECEPTIONS Gael Greene THURSDAY, JULY 7 flickr.com THE The Association for Corporate Growth invites you to SUMMERBASH 2011. This event will bring together professionals WEEKS focused on middle-market dealmaking Two for one for a night of networking. The event will take place at the Central Park AHEAD Boathouse, East 72nd Street and Park Drive North, from 6 p.m. to 9 p.m. The cost to attend is $100 for members and on Madison Ave. JULY 4-17 $175 for nonmembers. Food and beverages will be offered at the event. Registration is required. To register, visit CONFERENCES AND www.acg.org. For more information, WHAT SHE’S Plush new Duo is a SEMINARS call (212) 489-8700 or e-mail FRIDAY, JULY 8 [email protected]. READING restaurant first, then a Meet one-on-one with a business counselor at the BROOKLYN PUBLIC CULTURAL EVENTS DEBORAH BIAL, president and lounge; bring earplugs LIBRARY. Score counselors will be on-site MONDAY, JULY 4 Pick founder of the Posse Foundation, to give advice on starting a business, The New York of the a nonprofit that awards college ’m stepping on the welcome writing a business plan and Philharmonic presents scholarships, is preparing to implementing a marketing strategy.The STAR-SPANGLED week mat. It says “Duo Restaurant CELEBRATION expand her organization to New & Lounge Saturday.” I’m im- free counseling will take place at the , with conductor Business Library, 280 Cadman Plaza and host Bramwell Tovey.The Orleans and launch a $30 million pressed. That means they I West, from 10 a.m. to 2 p.m. To make program will include works by Gershwin capital campaign. change the doormat every an appointment, call and Sousa and will feature the U.S. buck ennis (718) 623-7000 Currently, she’s catching up day.How classy can it get? We’re led MEATY AND RARE: Slices of duck and select option 3; some walk-in Marine Drum and Bugle Corps. The on John Steinbeck’s East of Eden, past the curving bar—hot-looking appointments are available. For concert begins at 3 p.m. in Avery Fisher a novel based on the biblical tale and stylish. Now we’re standing in more information, visit Hall, 70 Lincoln Center Plaza. Tickets of Cain and Abel. “It’s the only what could be a duo of narcissists’ DUO RESTAURANT www.brooklynpubliclibrary.org. are $40 to $50 and are available online at www.lincolncenter.org. They can also be Steinbeck book I have not read,” loft. It’s all plush leather circular & LOUNGE she said. “He’s one of my favorite seating, with a duo of sensuous THURSDAY, JULY 14 purchased by calling (212) 721-6500 or 72 Madison Ave. WORKSHOP IN BUSINESS OPPORTUNITIES by visiting the Avery Fisher Hall box authors.” paintings on the wall evoking the (212) 686-7272 invites you to “Customer Care and Your office. The 2007 MacArthur “genius” duo of owners here: Russian sisters www.duonewyork.com Bottom Line.” A panel of experts will Lorraine and Sabina Belkin, one grant winner, who’s had a natural discuss how to measure and improve MONDAY, JULY 11, TO SATURDAY, JULY 16 inclination toward the classics, blonde,one brunette,as lush and ex- customer satisfaction to gain repeat Brooklyn Bodega presents BROOKLYN otic as the tropical flowers they wear. business. The free seminar will take HIP-HOP FESTIVAL. The event will feature said, “[Steinbeck is] able to All of it might have come from CUISINE American place at NYC Business Solutions, Lower concerts, panel discussions and a family- describe human tragedy in a very the closet of rich shopaholics. The PRICE RANGE Entrées $22 to Manhattan Center, 110 William St., friendly block party.This year’s real, quiet and powerful narrative.” velvet wall studded with Swarovski $42 fourth-floor conference room, from headliner is rapper Q-Tip. Ticket prices Ms. Bial added that Mr. crystals, the gold-leaf accents, croco- 6 p.m. to 8 p.m. Registration is required; vary.To get more details, performance Steinbeck and other great writers space is limited. To register, visit times and locations, or to purchase dile-skin columns, a doughnut- SERVING Lunch, dinner touch upon themes that transcend www.wibo.org/events. For more tickets, visit www.bkhiphopfestival.com. the page. “Great authors capture shaped chandelier.The Belkins’ pre- RESERVATIONS Advised information, call (212) 684-0854. —suzanne panara the universal,” she said. vious gambit, Duvet, where the NOISE LEVEL DJ rules seating was mostly beds you could To view Crain’s classified events listings, go to www.crainsnewyork.com/events —JERMAINE TAYLOR stretch or dance on, closed in 2009. I can’t wait to return. Duo is meant to be more seri- I will definitely go back. ous—a restaurant first, then a I’ll let them simmer awhile. lounge, though I get a jolt when the room is suddenly rocked by throb- NO HATS Never again. bing music and I spot the DJ bop- ping about on a parapet above.This loud already! It’s only 8:30! ing in a refreshing toss of fruits and Join the What got me here so fast was the spring vegetables with a yuzu vinai- illuminated menu. I liked that the grette. An odd duo of apricot- and sisters had focused on how to light pistachio-decked duck sausage up the menu without compromising alongside a small cup of asparagus Crain’s the romantic gloom that has be- soup is more whimsical than bril- come increasingly trendy. liant, but not as annoying as the goat Seeing the menu is just the begin- cheese and beet terrine deconstruct- Community ning. You have to figure out that a ed to insipidity. The market basket duo is sometimes two items on a plate rigatoni is just another salad with not and sometimes a choice of this or enough pasta,needing some olive oil. Subscribe to Crain’s New York Business that.If you’re out tonight because you Even so, I am enjoying the small couldn’t face cooking, you might not seasonal carrots and baby corn, as- New York’s must-read resource for business leaders feel like designing your own carpac- paragus, favas, English peas and the cio from a dozen ingredients. A bus- cherry tomatoes with a faint hint of boy brings small loaves of brioche, truffle oil. Honey ginger ponzu and house-made daily with sage and pink caramelized peaches complement One year subscription $29.95 peppercorns, I’m told, but ruined in meaty rare slices of duck on a nest of Weekly news analysis of New York’s most the rewarming, alas. The blood or- green lentils. Expecting little, I am important business issues ange margarita our server said would pleased by the huge triangle of hon- Print Edition be straight up comes on the rocks. ey-tamari glazed Chilean sea bass In-depth reports and trend stories He tries to get my guy Steven to sitting on wilted pea shoot leaves Crain’s annual Book of Lists order Parmesan truffled fries with and broccolini, slightly under- his rigatoni. “Are you kidding?” I cooked as I requested, with a subtle ask. “Potatoes with pasta?” barbecue-like sweetness. “You’re right. Maybe the rata- Pastry chef Geneva Gregg is a real One year subscription $24.95 touille.” He leaves selling only one find if our one dessert tells the tale. Anytime access to comprehensive and late side to our table: wild mushrooms It’s a splendid trio of peach Tatin, breaking business news with caramelized pearl onions, a peach cobbler and peach gelée with Digital Edition well-done basic that goes with ginger ice cream. Crain’s Daily Alert delivered to your everything. He returns a bit dashed. I’m no longer into hanging out in inbox each business day “We’re out of the pizza,” he says. the dark with DJs. But if you are, FREE unlimited access to Crain’s archives “At 8:30?” I ask. No big sin that here’s a sexy stage set where it’s safe the crew is still a bit green. As I said, to eat. this is an early first impression. Subscribe today Go to www.crainsnewyork.com/subscribe The calamari salad is good, the Copyright © 2011 by Gael Greene. crisp and lightly crumbed loops hid- Syndicated by www.insatiable-critic.com.

June 27, 2011 | Crain’s New York Business | 49 CN014474 6/22/11 12:11 PM Page 1

Commercial Banking Group

INDUSTRIAL STRENGTH EXPERTISE

Commercial banking is no place for novices. You need a team with the experience and commitment that matches yours to guide your business to its goals. As entrepreneurial-minded commercial bankers, backed by the strength of a top 10 bank, our clients trust us to bring the insights and innovative solutions to get the job done.

Ellen Marshall, Commercial Banking Executive [email protected] 212-764-8315