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Bofa's New No. 2 with a Bullet 20110912-NEWS--0001-NAT-CCI-CN_-- 9/9/2011 8:20 PM Page 1 INSIDE GREG TOP STORIES DAVID NEW YORK City’s hotels take A UNION TOWN? going green Fuhgeddaboudit to new extreme ® PAGE 2 PAGE 10 Architects begin torebuildafterlong, VOL. XXVII, NO. 37 WWW.CRAINSNEWYORK.COM SEPTEMBER 12-18, 2011 PRICE: $3.00 punishing run PAGE 2 Why so many biz leaders are holding back on Obama PAGE 3 Fashion flowers in two areas far from Madison Ave. REAL ESTATE REPORT, PAGES 21-24 quickhoney BUSINESS LIVES Changing channels GOTHAM GIGS But while the industry keeps a nervous eye on Dude! Hurricane Digital players, BY MATTHEW FLAMM prime time, other players are looking beyond ratings season is the best time and time slots. They want to break down traditional to catch a wave P. 47 including Apple, Over the next few weeks, television executives will viewing habits, expand the definition of a hit to in- ● ANNE FISHER How to take part in a time-honored ritual of the fall season: clude Web-original programs and remake the cable enjoy your work P. 47 look to end TV crossing their fingers and praying that the millions television business model, which relies on charging they’ve gambled on shows like Pan Amand Prime Sus- viewers for hundreds of channels they never watch. ● MOVERS & SHAKERS pect turn out to be dollars well spent. See THE FUTURE OF TELEVISION on Page 18 Shaping New York’s as we know it shoreline P. 48 ● GAEL GREENE Chinese food at RedFarm P. 50 BofA’s new No. 2 with a bullet INDEX transcript. “You don’t pay your tax- es. You don’t pay the firefighters, THE INSIDER Co-COO Montag will have to earn hefty pay _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _8 teachers, public credits. Sir, you’re a NEIGHBORHOOD JOURNAL _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _9 as revamp looms, testing his taskmaster rep tax dodger.” SMALL BUSINESS _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _16 Mr. Montag, who had been CLASSIFIEDS _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _39 made since the bank’s acquisition of awarded more than $100 million in BY AARON ELSTEIN Merrill Lynch and the financial cri- compensation over the previous FOR THE RECORD _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _42 sis. About halfway through the three years and was BofA’s best- HOT JOBS _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _47 In March, when Thomas Montag presentation, while Mr. Montag paid employee, kept his cool: “I ac- EXECUTIVE MOVES _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _47 was Bank of America’s president for extolled the firm’s bond depart- tually do pay my taxes,” he shot THE WEEK AHEAD _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _50 global banking and markets, he ap- ment, a heckler rose up. back, before promptly returning to bloomberg news THE WEEK ON THE WEB _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _51 peared before a big crowd of in- “Bank of America, pay your tax- his script. “OK. Well, in—in the POTENTIAL CEO: Bank of America’s Thomas vestors to talk about the progress es,”the person raged,according to a See BofA on Page 45 Montag could someday run the whole show. WHAT HAS NYC ACHIEVED SINCE THAT DAY? 9/11 ANSWERS FROM MICHAEL BLOOMBERG, KEN TEN ELECTRONIC EDITION YEARS CHENAULT, RAY KELLY, KATHRYN WYLDE, LARRY LATER SILVERSTEIN, KEVIN BURKE, DANIEL LIBESKIND, NEWSPAPER RONNIE LOWENSTEIN AND OTHERS PAGES 11-15 20110912-NEWS--0002,0003-NAT-CCI-CN_-- 9/9/2011 8:18 PM Page 1 warm.The GM barely notices as he opens IN BRIEF a blue bin where top soil is slowly collect- Meet the greenest ing, made from the kitchen waste that the THE NEW YORK FRANCHISE OF KELLER machine grinds up. WILLIAMS REALTY, ONE OF THE NATION’S “Composting in the city requires trucks largest real estate companies, will be taking to come every night,” said Mr. Houdré, over 22,000 square feet of office space at 555 who had been carting waste.“But we don’t Madison Ave. that was formerly occupied by hoteliers in NYC need them anymore, and we’ll save Tiffany & Co. staffers. Since launching here in money.” April, Keller Williams has grown to 112 agents; by the end of the year, it expects to more than They compost, keep bees, grow veggies Committee chair double its local head count, according to Ilan The Lexington Avenue property is the Bracha, chairman of Keller Williams NYC and lobby to show off one of his most recent ac- first hotel in the city to use such equip- a former top broker at Prudential Douglas BY LISA FICKENSCHER quisitions: a composting machine. ment—provided by a Norwegian firm, Elliman.The Texas-based firm will maintain The seven-foot-long appliance, tucked Global Enviro International. But it is no its New York executive headquarters in Trump Hervé Houdré, general manager of the away in a former walk-in freezer in the ho- surprise that the European company chose Tower at 725 Fifth Ave. swanky InterContinental New York Bar- tel’s kitchen,emits a pungent odor,and the Mr. Houdré’s hotel for its U.S. debut, ini- clay,whisks a visitor past the hotel’s ornate temperature of the room is uncomfortably tially offering the machine for free. A STUDY ASSESSING THE IMPACT OF THE SEPT. The Barclay is leading the 11, 2001, ATTACKS ON SURVIVORS HAS green hotel charge. In addition to discovered a 35% rate of post-traumatic stress composting, the hotel boasts a disorder in white-collar workers and other rooftop garden and even raises civilians who worked in the World Trade bees. In December, Mr. Houdré Center and nearby offices when terrorists was asked to chair the Hotel As- destroyed the buildings. While that rate is far sociation of New York’s first Sus- higher than the 20% PTSD rate earlier studies tainable Hospitality Committee. found in Sept. 11 rescue workers, the new study “As far as I know, he is the found the disorder mostly affected people most progressive New York City either in the twin towers or within a tenth of a hotelier on environmental is- mile of the attacks that day, according to sues,” said Joseph Spinnato, pres- Daniel Herman, an associate professor of ident of the hotel association, clinical epidemiology at Columbia University which is planning to present the Medical Center. committee’s recommendations to its members. Mr. Houdré is among a hand- ful of hoteliers in the city who are BY THE NUMBERS promoting a green agenda for the hotel industry, driven by their Weekly shift of the city’s economy own passion about environmen- TIDE TURNER? Europe inched closer to the tal issues and a mission to show abyss. America stood at the brink of a double- that sustainability is good for the dip recession. Obama had a plan, but not yet bottom line. support. newscom Energy hogs #1 -9% 5.0% Not everyone embraces their message, however. Mr. Spinnato THE WETTEST DROP in avg. DROP in said some hotel executives are NYC August ever, weekday ridership Bloomberg/ with 18.95 inches on NYC buses in Crain’s NY Stock concerned about the extra costs of rain April, vs. a year Index last week associated with green initiatives. Source: National earlier “It may take three to five years to Oceanic and Source: Metropolitan Atmospheric Transportation CHANGING get everyone on the bandwagon,” Administration Authority LIGHTBULBS: he said. Hervé Houdré is And hotels have a long way to RINGING UP GROWTH Growth of sales at stores open thinking green to go before they can be considered more than a year slowed in the last few months but save money for the remained solid. InterContinental good environmental citizens. New York Barclay. They are the fourth-largest com- mercial consumers of energy, ac- cording to government statistics. buck ennis See MEET THE GREENEST on Page 20 All figures exclude Wal-Mart Stores Inc. Source: Kantar Retail Architecture firms dare to r ADDICTED TO NUMBERS? at Gensler.
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