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The 50 Most Powerful Women in NY

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20110627-NEWS--0051-NAT-CCI-CN_-- 6/23/2011 7:02 PM Page 1 SPECIAL ISSUE VOL. XXVII, NOS. 26, 27 WWW.CRAINSNEWYORK.COM JUNE 27-JULY 10, 2011 PRICE: $3.00 The 50 most powerful women in NY They’re running this town—shaping business,politics, culture and more. Read all about them,starting on Page 19 Where do they rank? {LEFT TO RIGHT} Mary Ann Tighe Patricia Harris Jane Rosenthal Barbara Novick Sandra Lee Kathryn Wylde Shelly Lazarus Edith Cooper Bonnie Hammer ELECTRONIC EDITION ... and 41 more! NEWSPAPER 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.
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