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TOP STORIES WINNERS Mortgage woes & LOSERS contribute to rise 12 financial titans in bankruptcies most affected PAGE 2 by the credit crisis ® After St. John’s: PAGE 3 College security moving beyond text messages VOL. XXIII, NO. 44 WWW.CRAINSNEWYORK.COM OCTOBER 29-NOVEMBER 4, 2007 PRICE: $3.00 PAGE 3 Cheap greenbacks a gift horse now, a Financial Trojan horse later GREG DAVID, PAGE 13 crisis rips Farley plan off to a bad start? Parking tiff on West Side clothiers THE INSIDER, PAGE 14 New rule to crimp luxe corporate Share prices down parties; top NYC by double digits hotels list at apparel leaders; REPORT, PAGE 19 Warnaco only gainer

BUSINESS LIVES BY ELISABETH BUTLER CORDOVA HALLOWEEN the widening credit crisis has ETIQUETTE claimed an unexpected victim: a Experts handful of New York’s most fash- list the ionable companies. dos and Troubled Jones Apparel Group don’ts for CAPT. CRAIG HOSKINS Inc. and Liz Claiborne Inc. have costumes is based at JFK Airport but seen their shares tumble more than at work lives in Bradenton, Fla. 35% since late April, wiping hun- PAGE 35 dreds of millions of dollars off the

companies’ market value. Even lindström bekka perennial industry stars Polo Ralph Lauren Corp. and Phillips- clothier Kenneth Cole Produc- AT DEADLINE Van Heusen Corp. have taken big tions Inc., have also been drawn hits,with their shares slipping 28% into the conflagration, all seeing SHARES OF MERRILL LYNCH and 18%, respectively. share price declines of more than ROSE THE MOST in five years Accessories makers Coach Inc. 25% since the spring. In fact, only on Friday following a news and Steven Madden Ltd.,as well as See FINANCIAL on Page 8 report that Chief Executive Stanley O’Neal had initiated merger talks with Wachovia Airline pilots Corp. without getting the go- ahead from his board of MTA misses goals directors. Investors bet that detour around NY the news could lead to Mr. O’Neal’s firing and a takeover of the securities firm.The Many choose more affordable areas on minority contracts stock closed at $66.09. Meanwhile, downtown far from their assigned airports that is challenging, and it is not an officials launched a new effort Vows to help firms area that will be easy to fix. But I’m to convince Merrill to remain get work, but some committed to doing it. ” in lower Manhattan after BY HILARY POTKEWITZ The MTA’s problems include reports indicated it was prefer private sector slow processing times for certifi- considering building a new when a flight lands at one of New York’s airports, the pi- cation applications and firms’ dif- headquarters across from lot usually says over the loudspeaker,“On behalf of your New BY THERESA AGOVINO ficulties in securing performance Penn Station. York-based flight crew, we’d like to thank you for flying with bonds to qualify for agency work. us.” But don’t assume he lives here. More likely, the crew for the past three and a half Some eligible companies are re- PRODUCTION ON 30 TELEVISION years, the Metropolitan Trans- luctant to bid,claiming that work- SHOWS CURRENTLY being commutes from homes in the Midwest, the South or upstate portation Authority has failed to ing with the MTA is too much of filmed in New York will shut cities like Buffalo. meet its goals for awarding a hassle. down if the Writers Guild of Deterred by the high cost of living and salaries relative- minority- and women- The agency has done America goes on strike this ly the same as a decade ago, See AIRLINE PILOTS on Page 10 owned businesses state- 8% much better on the federal week.The guild’s three-year funded contracts. OF MTA STATE side. In the first half of the See AT DEADLINE on Page 2 contracts went JFK CUTBACKS Delta, JetBlue adjust flights to avoid cap Page 10 The businesses have re- to women and last fiscal year, it gave 21%

buck ennis ceived about 8% of the $7.2 minorities, vs. of the $519 million in fed- billion in contracts that the goal of 15% eral contracts to minority-

44 MTA has awarded since and women-owned busi-

5 COMINGNEXT WEEK 2004—far below the 15% goal the nesses; its target was 17%. Most of Lawyers at nonprofits helping agency set for itself using a formu- the awards were for construction. homeowners facing foreclosure are la outlined in law. The MTA says it is easier to find ELECTRONIC EDITION overwhelmed; CREDIT CRISIS CRIMPS “It’s disappointing that we are minority- and women-owned WORK at big firms; top law firms list. underperforming,” says Chief Ex- companies that deal with con-

NEWSPAPER ecutive Elliot Sander. “It is an area See MTA’s MINORITY on Page 8 71486 01068 0 CNYB 10-29-07 A 2 10/26/2007 7:09 PM Page 1

FRESH LETTUCE: Michael Psilakis and Donatella Arpaia have AT DEADLINE brought in an investor to back their expansion. Continued from Page 1 in the magazine market, contract with the Alliance of jumping 96% to 135 titles Motion Picture and Television between 2002 and 2007, Producers expires Oct. 31, and according to the 2008 edition union members have already of the National Directory of approved a strike.The programs Magazines. Home magazines at risk are late-night talk shows, were the second-fastest- soap operas and sitcoms like 30 growing, up 57%, followed Rock.Talk shows like Late Show by ethnic titles, regional with David Letterman, The publications and baby Daily Show with Jon Stewart and magazines. Internal publications The View would have to air were the hardest-hit category, reruns immediately. Dramas dropping 76% to just 45 titles. and comedies like Gossip Girl The number of environmental and Lipstick Jungle have about magazines fell 34% during the five weeks’ worth of shows in period. Niche magazines have the can.The guild’s East Coast also narrowed their scope, division has 2,500 members, with bridal titles, for instance, most of whom live in New York. targeting readers by region and ethnicity. OFFICE-SUPPLY CHAIN STAPLES IS GOING AFTER New Yorkers’ MBIA INC. AND AMBAC FINANCIAL business with a new store format GROUP INC., two companies that called Staples Copy & Print insure bonds against default, Shop.The first of nine planned have been hit so hard by the Manhattan locations recently credit crisis that their shares opened at 261 Madison Ave. now trade below book value. Framingham, Mass.-based Investors are worried about

Staples aims to open the other the companies’ viability, says buck ennis city locations within a year.The analyst Ed Grebeck of Tempus new 4,000-square-foot shops Advisors. Armonk, N.Y-based will compete with the two dozen MBIA posted a quarterly loss of FedEx Kinko’s print stores in $37 million last week, compared Manhattan. Staples also plans to with earnings of $218 million Chomping at the bit open a handful of traditional in the year-earlier period. stores in the boroughs outside Manhattan-based Ambac Manhattan by the end of 2008. swung to a net loss of $361 million, versus a profit Restaurateurs plan ambitious NYC, national ventures HAWAIIAN TROPIC ZONE of $214 million in the year- RESTAURANT, a Times Square earlier period. BY LISA FICKENSCHER hot spot with bikini-clad waitresses, will begin featuring THE ASIAN AMERICAN BUSINESS on a recent muggy morning, Donatella Arpaia and business partner Michael Psilakis sat live music and dancing this DEVELOPMENT CENTER will open week after obtaining a cabaret the New York Center in Beijing sipping coffee at their trendy midtown restaurant, Anthos, as they discussed a possible site for a license.The year-old eatery is on Nov. 1.The facility will new eatery. Ms. Arpaia excitedly suggested that the space would be ideal for two restaurants, a bucking a trend. Over the past provide support in China for notion that Mr. Psilakis instantly dismissed as impractical. 15 years, the number of dancing New York state businesses, The thirtysomething duo—he’s the chef; she provides the buzz and panache—are used to venues has declined 20%. especially small and medium- size companies, that don’t have disagreeing. BRIDAL PUBLICATIONS MAKE UP existing resources and networks “Our relationship is like a marriage without the sex,” says Ms. Arpaia, who has achieved THE FASTEST-GROWING category on the mainland. I national fame as a judge on the Food Network’s The Next Iron Chef, while Mr. Psilakis has just netted a coveted Michelin star for his cooking at Anthos. “There’s a lot of trust between us.” That’s a good thing, because their two-year-old partnership is about to undergo its biggest THIS WEEK IN CRAIN’S See RESTAURATEURS on Page 8

GREG DAVID ------13

THE INSIDER------14 SMALL BUSINESS ------15 Personal bankruptcies soar WEEK IN REVIEW ------16 Filings up 69%; factors account for the sharp in- tended payment plans for credit card REAL ESTATE DEALS------18 crease. First, the numbers are being and other debt when monthly pay- housing foreclosures compared with figures for an abnor- ments on adjustable rate mortgages REPORT: MEETINGS mally low period for bankruptcies in reset to higher levels. Congress is 2006, the year after the bankruptcy considering measures to make it 37 AND CONVENTIONS------19 tied to increase law was overhauled. Prior to the possible to restructure mortgages, NEIGHBORHOOD change in October 2005, personal which, attorneys say, would increase BY TOM FREDRICKSON bankruptcies soared as people filings sharply as more homeowners JOURNAL------39 29 rushed to file under the old, more use the courts to save their homes. CLASSIFIEDS ------30 the number of personal bankrupt- liberal bankruptcy law. Meanwhile, some debtors are cy filings in New York City shot up choosing to file for Chapter 7 as an THE WEEKS AHEAD ------33 more than two-thirds in the past year. Slowing housing market alternative to foreclosure because Chapter 7 and Chapter 13 filings in addition, attorneys say, bank- the latter can lead to taxable income BUSINESS LIVES------35 in the city increased 69% over the ruptcy filings are going up because for debtors.In addition,the negative CORPORATE LADDER------37 past 12 months to 10,541. New Yorkers are suffering increased credit information from a foreclo- The largest increase, 83%, was pressure from rising debt and the sure stays on a credit record for a EXECUTIVE MOVES------38 recorded in Chapter 7 filings at the slowing housing market. longer period than a Chapter 7 BOB LAPE ------39 Brooklyn branch of U.S. Bankrupt- Many debtors who are having bankruptcy, says Manhattan bank- cy Court, which includes filings for trouble meeting their mortgage ruptcy attorney Stephen Kass. vol. xxiii, no. 44, october 29, 2007—Crain’s New York Business (issn 8756-789x) is pub- lished weekly by Crain Communications Inc., 711 Third Ave., New York, NY 10017. Period- that borough as well as Queens and payments and holding on to their “A year ago, I didn’t see any icals postage paid at New York, N.Y. and additional mailing offices. Postmaster: Send address Staten Island. At the Manhattan homes are filing for bankruptcy. Chapter 7 filings related to real es- changes to: Crain’s New York Business, Circulation Department, 1155 Gratiot Avenue, Detroit, MI 48207-2912. for subscriber service: Call (888) 909-9111. Fax (313) 446-6777.$3.00 a branch, which includes filings for Even though current law doesn’t tate,” Mr. Kass says. “Today, I am copy, $59.79 one year, $109.79 two years. (GST No. 13676-0444-RT) ©Entire contents that borough and the Bronx, Chap- allow mortgages to be restructured seeing about two a week.” copyright 2007 by Crain Communications Inc. All rights reserved. ter 7 filings were up 59%. in a Chapter 13 bankruptcy, some Bankruptcy attorneys said two filers are choosing to work out ex- COMMENTS? [email protected]

2 | Crain’s New York Business | October 29, 2007 CNYB 10-29-07 A 3 10/26/2007 7:06 PM Page 1 The big crunch 12 financial titans who sank or swam during the great credit crisis of 2007. Some acted expeditiously; others were caught completely by surprise. by Aaron Elstein LOSERS WINNERS (in alphabetical order) (in alphabetical order)

Over the last four years, Chief Executive MITCHELL CAPLAN worked Goldman Sachs had egg on its face in August after an in-house hedge tirelessly to take E*Trade beyond its discount-broker roots. Too bad. fund posted huge losses, an early sign of big problems in the credit The old business is holding up well. Trouble is that the new ventures, 52% markets. Rather than stick customers with the losses, Chief Executive 0 DECLINE NUMBER OF like buying home loans from third parties, have been a bust. The in E*Trade share LLOYD BLANKFEIN quickly rescued the fund by injecting $2 billion of other big brokers company recently announced a third-quarter loss, largely fueled by a price this year the firm’s money. Fortunately, Goldman’s other big wagers, including whose stock is up $197 million write-down of mortgages and other securities. betting against mortgages, paid off so handsomely that the firm still this year. posted an 80% jump in third-quarter earnings. The credit crisis dawned in June when a pair of highly leveraged Bear Stearns hedge funds stuffed with curdled mortgage securities Early this month, J.P. Morgan Chase reported record third-quarter abruptly collapsed. Chief Executive JIMMY CAYNE has been furiously $4.9B earnings of $3.4 billion. The news not only boosted its stock, it added trying to keep his firm afloat ever since. In a field where Bear was the DECLINE a brilliant shine to the reputation of Chief Executive JAMIE DIMON. 28% in Bear’s market RISE IN STOCK supposed industry leader, the losses came as a shock, as did the value this year One big reason: Mr. Dimon’s bank seems to have sidestepped the price since firm’s foot-dragging in bailing out investors. worst excesses of the credit bubble, recording write-downs of only Mr. Dimon took $1.3 billion, less than half of those of archrival Citigroup. over in ’06 Few have taken as much heat over the credit crisis as ratings agencies Moody’s and Standard & Poor’s. Their earnings are falling and heads Money management giant BlackRock, led by LAURENCE FINK, has are rolling—S&P President KATHLEEN CORBET left in August. The 44% become a popular port for investors seeking shelter from the financial agencies collected fat fees as they merrily assigned top ratings to PORTION OF storm. Best known for investing in stodgy bonds, the firm attracted a 31% Moody’s revenue RISE IN tottering mountains of mortgage-backed bonds. Regulators and class- tied to rating wave of $41 billion in the turbulent third quarter, with $30 billion of stock price action lawyers are now circling. hybrid securities that going into money market funds that offer safe, albeit low, returns. this year In the quarter, the firm reported a 116% jump in adjusted earnings. After a fast start, 2007 has turned into a fiasco for private equity kingpin HENRY KRAVIS. As the credit crisis hit, investors suddenly Defeat has never tasted as sweet as it does for Nasdaq Chief Executive balked at financing Kohlberg Kravis Roberts’ leveraged buyouts, $130B ROBERT GREIFELD. Repeatedly foiled in his efforts to buy the London VALUE OF 10X including its $28 billion acquisition of First Data. Even worse, the firm acquisitions Stock Exchange, Mr. Greifeld sold the 30% stake he’d accumulated at recently backed out of an $8 billion deal to acquire audio equipment agreed on this a $431 million profit last month, and established a European RISE IN year by KKR third-quarter maker Harman International Industries. beachhead anyway by striking a merger this summer with Sweden’s earnings OMX Group. Meanwhile, crisis-driven stock market volatility is driving up As losers go, STANLEY O’NEAL now ranks as the biggest of the bunch. Nasdaq’s trading volume and profits. Last week, the Merrill Lynch chief executive announced a whopping $8.4B $8.4 billion write-down to reflect the tumbling value of the firm’s pile After years of nonstop growth, the banking business is getting a bit AMOUNT of mortgage-related holdings and by week’s end was fighting to hold of write-downs ugly around the edges. Not for JOHN KANAS, though. The man who on to his job. That bloodbath exceeded Merrill’s own estimate of just in Merrill’s built up North Fork Bancorp into a local powerhouse with 355 $14B mortgage- NORTH FORK’S less than three weeks ago by more than $3 billion. The write-down related securities branches sold it for $14 billion in December. He not only pulled the cord sale price dwarfs Merrill’s record 2006 net income of $7.5 billion. on his gilded parachute just in time to avoid the pain of the housing collapse, but also got an exit package worth about $200 million. Citigroup CEO CHARLES PRINCE has described 2007 as the year of “no excuses.” This month, after reporting an appalling 57% drop in Timing is everything on Wall Street. Just ask STEPHEN SCHWARZMAN, earnings, he termed the huge bank’s performance “surprising.” Sadly, $6B chief executive of private equity powerhouse Blackstone Group. In late it is anything but that, considering it ranked as a major player in AMOUNT June, just as the LBO bubble neared its giddy peak, he took his $7B by which Citi VALUE OF subprime lending and in financing huge leveraged buyouts. Citi was wrote down value company public, raising $4 billion and netting himself a cool $700 Mr. Schwarzman’s also the world’s top creator of structured investment vehicles and is of subprime and million in cash. A month later, the credit crisis hit, the LBO game went Blackstone stake now leading a $100 billion bailout plan. other loans into the deep freeze, and Blackstone’s share price hit the skids. photos: bloomberg news Campuses rethink security

Despite St. John’s success, But such investments aren’t enough in a even figured out who’s authorized to send out city of sprawling campuses and dormitories, a text alert.” officials scramble to go where a lockdown isn’t always feasible. A recent spate of headlines about trouble at Schools are reviewing their protocols to figure campuses nationwide is prompting local beyond text-messaging out what to say via their costly communication schools, including City University of New systems when something does occur. They’re York, Columbia University,Fordham Univer- BY SAMANTHA MARSHALL also hiring more staff to ensure the safety of sity and New York University,to come to grips students, faculty and employees. with security logistics. university officials at St. John’s Universi- St. John’s isn’t satisfied. It plans to put tele- ty won high praise last month when a rifle- First things first phones in every classroom, public address sys- toting student on the Queens campus was “buying the technology is like putting tems in every building and plasma informa- quickly apprehended without a shot fired.The the cart before the horse if the university lead- tion screens in every lobby. school quickly became a media darling,and its ership hasn’t come up with a policy for cam- Administrators at Fordham, which had text-messaging alert system was hailed as the pus security,” says Richard Dale, a security a text-alert system before the massacre at

panacea for security breaches. consultant and founder of iXP, which spe- Virginia Polytechnic Institute in April, say neff david Dozens of other area colleges have been cializes in implementing campus emergency they are continuously tweaking the emergency HALLWAY MONITORS: St. John’s junior John Kelly was moving quickly to install similar technology. response systems. “Sometimes they haven’t See CAMPUS OFFICIALS on Page 9 reassured by how “well-orchestrated everything was.”

October 29, 2007 | Crain’s New York Business | 3 CNYB 10-29-07 A 4 10/26/2007 7:17 PM Page 1

IN THE MARKETS HIGHLIGHTS REEL Hess shares barrel ahead +1.8% on soaring oil prices The Bloomberg/ Crain’s New Argus Research analyst Philip Weiss. more akin to a leader. The company’s York Index Stock highly vulnerable “This is particularly true of companies management had a poor record on explo- rose 1.8% to to any dip in petroleum; such as Hess,whose results depend large- ration and production. But with the re- end the ly on the result of their tirement of a number week at swaps bring new fields exploration efforts.” of executives and a new 382. The ➡ Despite surging group coming aboard S&P 500 demand from China, from competing com- Index rose BY TOM FREDRICKSON India and other panies, Hess has 2.3%, emerging markets, sharpened its act. Big closing at nvestors mulling an investment some industry ana- investments in explo- 1535. in Hess Corp. should think of lysts are convinced ration are paying off. Clint Eastwood, who as Dirty that a huge bubble is The company has Harry famously threatened a thug, inflating, fed largely made some savvy telling him, “You’ve got to ask by speculators trading deals recently, includ- RISERS Iyourself one question: ‘Do I feel lucky?’ ” oil futures contracts ing selling or swap- 5-DAY 1-MONTH 3-MONTH CLOSING Betting on Hess, an international in- based on volatile ping of properties with % CHANGE % CHANGE % CHANGE PRICE tegrated oil and gas company based in short-term issues. In dwindling supplies of Aéropostale +13.7% +15.0% -13.5% $22.44 Manhattan,takes guts at this point.With addition, growing oil in favor of explor- New York Times +11.7% +5.6% -11.0% $20.30 the price of oil up sharply this year—it signs of a slowdown in ing newer oil basins in just passed $90 a barrel for the first time economic growth in Africa and Asia, says Nasdaq +10.8% +18.4% +42.4% $44.32 last week—it’s no wonder Hess’ shares the United States and Ms. Milostan. But NYSE Euronext +8.5% +16.0% +23.3% $91.19 have soared 48% this year. But with fur- Europe could put Market cap $22.5 billion with 63% of the firm’s Goldman Sachs +8.4% +10.0% +21.0% $236.06 ther major moves in oil prices increasing- pressure on energy Est. 2008 P/E 11.5 2006 production still ly unlikely and with Hess’ shares trading demand and prices. Five-year share-price gain 408% in America and Eu- at a premium to those of its peers, in- Hess’ earnings per rope, gains should re- SINKERS vestors should drill elsewhere for profits. share are expected to main at only about 3% 5-DAY 1-MONTH 3-MONTH CLOSING On the upside, Morningstar analyst increase modestly this to 5% per year. % CHANGE % CHANGE % CHANGE PRICE Catharina Milostan estimates that a 10% year to $5.70 per share, up 6%, though The rub is that the good news is al- Ambac Financial -22.9% -29.0% -41.4% $44.30 increase in crude oil prices would trans- those estimates will certainly be boosted ready priced into the stock. Hess’ shares Coach -12.5% -23.1% -22.8% $36.13 late into a 30% rise in Hess’value.But the if oil prices hold at their current level. have outgained those of rivals.As a result, same ratio holds true on the downside, Schering-Plough -6.7% -4.7% +4.5% $30.52 Revenues are forecast to hit $29.5 billion, Hess’ stock currently trades at 14 times and the higher oil prices go, the greater up from $28.1 billion in 2006 and $23.2 the company’s trailing 12-months earn- Moody’s -6.4% -8.5% -21.6% $43.37 the chances of a correction. billion in 2005. ings, versus a multiple of 12 for BP. Cablevision -6.3% -14.5% -16.8% $29.53 “The shares of oil companies often In recent years, Hess has gone from a move in sympathy with oil prices,” writes longtime industry laggard to something COMMENTS? [email protected]

THIS IS OUR MARKET... STOCKS TO WATCH by Erik Ipsen Joke is on Comedy Central owner Viacom as shares get stuck in neutral JON STEWART recently renewed his contract to star on the hit The Daily Show. SpongeBob SquarePants will soon bow as an Xbox video game. The media company behind these hot properties, Viacom, is expected to post a 33% jump in profits this week. Yet all this leaves investors cold. Viacom’s shares have gone nowhere this year and in fact are down slightly since the company split from sibling CBS nearly two years ago. MetLife held $2.3 billion worth of securities backed by subprime loans at the beginning of the summer. This week, the insurer will tell investors how much it still holds and how much those holdings are worth. Fears of a huge subprime write-down at rival AIG rocked that stock last week. Wall Street expects MetLife to fare far better as it cruises to an earning increase for the 12th straight quarter. The shares gained 7% last week and are up 17% this year. Admit One, the trusted source for the acquisition and sale of live event tickets for over 20 years… Critics have called Lazard an On the Buy side and Sell side — we offer our clients true market value, secure transactions and dependable service. investment-banking lightweight for Let Admit One connect you and your clients to the events that matter. years. As it turns out, smallness has its advantages, like not having enough capital to load up on (646) 307-4239 subprime mortgages or lend pots of www.admitone.com money to clients—businesses that are email: [email protected] costing big firms dearly. In contrast to 1412 Broadway, New York, NY the giants, Lazard is expected to post a 95% profit jump this week. No SPORTS •THEATER •CONCERTS wonder its shares have bucked the industry trend to rise 6% this year. On the Bloomberg Terminal: Type TIXX or email [email protected] charts: lindström bekka

4 | Crain’s New York Business | October 29, 2007 Project2 10/15/07 11:20 AM Page 1

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MANHATTAN’S MOST EXCITING NEW DESTINATION NOW OPEN! NEW YORK,NEW YORK edited by Lisa Fickenscher

The caterer, which recently Soon, cheesecake handled an event just outside the landmark with their cuppa hotel to celebrate its ew york cheesecake king 100th anniversary, is busy preparing for another big Junior’s has just signed a deal party to mark the grand Nto sell its most famous reopening. sweet to the British, who can soon decide whether it’s tasty Project slam-dunk DESTINATION: NEW YORK CITY. enough for a country that has a for ex-hoopsters A unique new address for business. monarch. Lesly INNOVATION: After a year of negotiating nightlife impresario Bernard has scored with his nine- Historic atmosphere integrating advanced conference capabilities. with Greencore, a Dublin-based month-old Tillman’s Bar & INSPIRATION: food manufacturer, Junior’s is Lounge in Chelsea (below). A refreshing retreat for meetings and events. handing over its recipe in a licensing Now, former National arrangement that will allow Greencore to make the cake Basketball Association players Christian Laetner and Brian Davis are and sell it to several hundred restaurants and 1,000 retailers teaming up with Mr. Bernard, of in the United Kingdom. Taj and Pravda fame, to bring the 180 10th Avenue (between 20-21st Streets) The conglomerate will regularly send samples of its Harlem-inspired Tillman’s to 15 New York, NY 10011 product to Junior’s co-owner Alan Rosen to ensure that it cities in the United States and 212.243.5150, ext 382 three Caribbean islands. Destinations. Innovation. Inspiration. ahl-tutucenter.com meets his standards.The British version will have a drier Messrs. Laetner and Davis, crust rather than the sponge cake one used here, according who co-own real estate develop- MEET up to 350 attendees STAY 60 guest rooms RELAX an oasis in Chelsea to Mr. Rosen. “If we find that people really love our cheesecake, I’d love to open a restaurant there,” observes Mr. Rosen, who sells more than a million cheesecakes in this country for up to $65 each. Greencore will begin test-marketing the dessert next month but won’t introduce it in stores until next spring.

will be redesigned in January. Tinseltown titans Variety insists it’s not worried. ment firm Ball Street Ventures, clash in Big Apple “It’s safe to say we’re pretty well- are backing the first Tillman’s established,” says Publisher Charles outside the city, in Durham, N.C. Kent M. Swig this week, the long-running Coones. That’s where the partners are West Coast battle between the Ad pages for Daily Variety, building a luxury residential and two entertainment-industry Gotham and the Reporter were all commercial community on 44 Swig Equities, LLC bibles, Daily Variety and The down through August, according acres—home of their alma mater, Hollywood Reporter, comes to to IMS/The Auditor. Duke University—once crowded with tobacco warehouses.The Tillman’s there is slated to open in is pleased to announce Plaza getting six months. ready to party Their other project sites include Atlanta, Miami, the acquisition of the plaza hotel may Philadelphia and Washington. have suffered construction “Lesly is our exclusive restau- delays during its two-year rant partner,” says Mr. Davis, who renovation, but that hasn’t says Tillman’s won out over other Helmsley-Spear, Inc. stopped people from booking concepts because of its “coolness.” their weddings, bar mitzvahs Contributor: Matthew Flamm Established 1866 MOVIE NEWS: Ad pages for the rivals are down. and even movie-premiere parties starting in January, when the New York. property is finally slated to WEB DESIGN 101 On Nov. 2, the Reporter will open. October 2, 2007 launch a national edition, which So far, 92 events are HELP IS ON THE WAY for local small will have same-day distribution in booked for 2008 in The businesses with hideous Web sites. New York and go head-to-head Plaza’s ballroom and in Domain provider Register.com is hosting here with Variety’s nine-year-old the newly created 14,000- its version of Extreme Makeover, and the Gotham edition. square-foot, second-floor three “winners” will get a free face-lift. “We believe there’s a need here meeting space, according Business owners must submit their loser [for us],” says Erik Mika, publishing to Dean Martinus, president entries to www.register.com/makeover director of the Reporter. Its of Great Performances, by Nov. 27. Register.com will choose nine expanded New York coverage will which will provide finalists, and visitors to the site can vote focus on the intersection of catering at the property. on them to select the victors, which will be entertainment and finance, says The big surprise is the announced Dec. 17. Register.com is hold- Editor Elizabeth Guider. interest from film ing the competition to promote its new The new edition is part of a companies, Mr. Martinus custom design service. worldwide expansion by Reporter, says. “The old Plaza didn’t which is owned by Nielsen and do a lot of premieres.”

6 | Crain’s New York Business | October 29, 2007 Project6 10/16/07 3:58 PM Page 1

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For the industry’s weaker play- company emerged from bankruptcy ers, the slowdown is expected to be four years ago, and Chief Executive Financial crisis rips clothiers even more painful. Jones Apparel Joe Gromek has mounted a success- Group has struggled for several ful turnaround by focusing on its hot Continued from Page 1 “All those macro issues are shopping only weeks away,the slow- years to find its footing as its aging Calvin Klein brand and overseas one company in the stylish bunch, weighing on consumer spending,” down promises to wreak real dam- clothing lines lost rack space in de- sales. Investors have continued to Warnaco Group Inc., has gained says Marty Hargrave, a portfolio age. Apparel companies typically partment stores. For the first half of buy the turnaround story and the ground. Its stock is up a whopping manager at Fifth Third Asset Man- make most of their profits in the this year, its earnings shriveled to stock. Persistent rumors about a 34%. agement. year’s final quarter. Just last week, just $11 million, from $135 million possible takeover by Phillips-Van “Investors in general don’t want Many signs point to the situa- Coach executives lowered their in the first half of 2006. Most re- Heusen have also helped the shares. to have anything to do with con- tion only getting worse from here. profit forecasts, citing falling retail cently, the company sold its fast- With the economy losing steam, sumer names right now,” says Retail traffic around the na- traffic. growing Barneys New York chain the last thing the industry needed Robert Samuels,an apparel industry tion has declined in eight of Investors have taken such and replaced its chief executive. was exactly what it got, one of the analyst at J.P.Morgan Securities. the last nine months, mark- 34% fears to heart, betting that hottest autumns on record. Balmy INCREASE Changes at Claiborne Behind the rout looms a wall of ing the longest slide in a in Warnaco’s not even the industry titans’ temperatures have forced compa- worry that is expected to depress decade, according to stock price over stock prices will be immune. liz claiborne is also seen as vul- nies to mark down truckloads of revenues and earnings for months to Chicago-based consulting the past six That includes Phillips-Van nerable. Its new chief executive sweaters, suede boots and overcoats come. Higher gas prices, falling firm ShopperTrak. months Heusen, the longtime king overhauled the firm’s entire business in recent weeks. home values and tighter credit con- of men’s dress shirts. It has reported strategy earlier this year, putting 16 “Everybody uses weather as an ditions are all holding back con- “Industrywide decline” double-digit profit growth for the clothing brands up for sale in order excuse, but if you have 80-degree sumers’ willingness to spend. Com- “unfortunately, a sustained traf- last 14 consecutive quarters and re- to focus more on its Juicy Couture days out here, some of these compa- pounding the problem, apparel and fic decline, like the one we’ve been cently reaffirmed its upbeat forecast and Kate Spade divisions. For the nies are going to have a hard time sur- accessories companies are strug- monitoring throughout 2007, sug- for the year. first six months of the year,the com- viving,”says Gilbert Harrison,chair- gling in the absence of any hot new gests an industrywide decline in sales Polo Ralph Lauren, the fashion pany reported flat sales and a sharp man of retail advisory firm Financo fashion trends to stimulate shop- in the coming months,” noted Bill house with legendary staying power 65% tumble in earnings from the Inc. “The apparel business is going pers’ interest, and unseasonably Martin, co-founder of Shopper- and a stock price that has quintupled same period of 2006. through a tough time right now.” warm weather is melting demand Trak, in a recent report. in the last five years,is also taking its Only Warnaco Group has blos- for cold-weather gear. With the most critical holiday lumps. somed in this environment. The COMMENTS? [email protected] MTA falls short on minority goals

Continued from Page 1 pending contracts. For example, the In fact, women-owned enter- struction than with other services, MTA isn’t required to advertise jobs prises received about 3% of the which are more often included in under $10,000. Starting next year, it MTA’s state-funded contracts, state contracts. plans to inform the businesses so that compared with a goal of 5%; minor- But locating minority- and they can bid on those opportunities. ity-owned firms got 5%, versus a women-owned construction firms Impediments to success abound. goal of 10%. is hardly simple. For example, find- Experts cite a scarcity of minority- Leo Fabio’s firm,LLF Construc- ing ones to help build the Second and women-owned businesses with tion, is too small to get its own con- HARD WORK: The Avenue subway will be a challenge. the financial ability to secure neces- tracts but has been a subcontractor MTA says it’s difficult The $1 billion project will require sary bonding, as well as the experi- on MTA jobs.Mr.Fabio says that he to find minority- and large,experienced firms,and minor- ence to take on large contracts. In prefers to be his own boss and that women-owned firms ity- and women-owned firms tend addition, some with the capacity the private sector pays faster. for big projects.

to be smaller. prefer to work in the more lucrative Despite the challenges, some getty images “That could pull our numbers private sector. owners are hopeful. They say that down,” says MTA General Counsel Gov.Eliot Spitzer seems more com- James Henly. Too much red tape mitted to awarding contracts than and Bradford Construction Corp. If the promises are just talk, the In an attempt to improve its ellen aschendorf, president of the previous administration. For ex- “This administration has been very MTA probably won’t suffer conse- overall performance, the MTA has Egg Electric Inc., says her company ample, the state announced a pilot accessible to us.” quences, as missing the targets car- cleared the certified-list backlog of could bid on large MTA projects but program that would help businesses Ms. Wilkin is encouraging by ries no penalty. about 65 companies.Some had been that it isn’t worth it. get bonding insurance. the agency’s willingness to admit “These are aspirational goals,” waiting for years. “There are lots of requirements— “There has been a change in at- flaws and its pledges to improve.But Mr. Henly says. The MTA also plans to be more tons of reports,” Ms. Aschendorf titude,” Sandra Wilkin, president of “it’s still early,” she says. “If it is only proactive in alerting vendors about says. “I’d rather be building.” both the Women Builders Council lip service, we’ll find out.” COMMENTS? [email protected]

restaurant chains they plan to devel- even been featured in Spiegel cata- op outside of New York City. The logs as an expert on entertaining.On Restaurateurs chomp at the bit third New York restaurant will be the heels of a five-page spread in the based on one of those two models. October issue of InStyle that’s de- Continued from Page 2 stake in their business. The partners are close to clinch- The two new restaurants will voted to her entertaining tips, the stress test ever.The pair plan to open “We are going to play with the ing a deal to relocate Mr. Psilakis’ represent departures both for Mr. self-described media hound is ne- three restaurants in the city next big boys now,” says Ms. Arpaia. cramped Upper West Side eatery, Psilakis, who describes his cooking gotiating with NBC Productions to year, and will then use two of them They’ll need more than deep Kefi, to a commodious 6,000- as “sometimes too cerebral,” and for star in a new food show. as models for an eventual nation- pockets to play in that league, how- square-foot space in the same Ms. Arpaia, who is known as a Mr. Psilakis worked as an ac- wide expansion. Meanwhile, they’re ever. The two will have to prove neighborhood. The Greek restau- doyenne of high style. Unlike their countant for several years before still smarting from the sudden de- their negotiating prowess as they rant is so popular that customers previous upscale creations, the en- quitting to pursue a career in cook- mise in January of their first restau- vie for prime spaces with estab- larged Kefi and the reinvented ing. He opened and ran successful rant together, Dona—cited by Es- lished restaurateurs—say, Fiamma’s Dona will be affordable, costing an Italian restaurants in Garden City, quire as the Best New Restaurant in Steve Hanson or China Grill’s Jef- ‘We are going to average of $30 and $45 per person, L.I., for 10 years; three years ago, 2006—which lost its lease. Anthos frey Chodorow. The duo also must respectively. he opened his first restaurant in is currently the only eatery that the build an infrastructure to handle the play with the Manhattan. partners own together. growth of their as-yet-unnamed Eatery expertise “I never assumed I could come “Developing multiple concepts business. big boys now,’ although they are relatively into the city,” says Mr. Psilakis, a and locations is not easy,” says young, Ms. Arpaia and Mr. Psilakis self-made chef who never attended Stephen Zagor, director of manage- Piecemeal process says Ms. Arpaia bring years of experience to their culinary school. He credits his ment programs at the Institute of that process has already begun. task. decade-long friendship with fellow Culinary Education. “It requires a Ms. Arpaia and Mr. Psilakis are hir- Ms. Arpaia hails from a promi- Long Islander Ms. Arpaia for in- high level of management and cost ing as many as 50 people to staff the nent restaurant family. Her fa- spiring him to make the leap. controls.” first of their three new restaurants, ther, Lello, has run upscale Italian Now, as they make an even big- It also requires a lot of cold hard which will open around the first of routinely queue up outside to snare eateries in Manhattan since the ger leap together, they both know cash. Ms. Arpaia and Mr. Psilakis the year on tony East 58th Street,off a table. 1980s. Two years ago, she opened that success is not guaranteed. have already scored a coup: Three of Third Avenue. For now, they are The expanded Kefi will become the highly acclaimed Davidburke “It will be interesting to see if it months ago, they netted an inves- calling the location “the new Dona,” the second joint venture for Ms. & Donatella with celebrity chef all happens.Sometimes people don’t tor who agreed to back their ambi- even though it will be less formal Arpaia, Mr. Psilakis and their in- David Burke. come,” says Ms. Arpaia. tious expansion plans with millions than their original Greek/Italian fu- vestor. Along with the new Dona, it In addition, Ms. Arpaia sells a of dollars in return for a one-third sion eatery. will become a prototype for the two line of gourmet food, and she has COMMENTS? [email protected]

8 | Crain’s New York Business | October 29, 2007 CNYB 10-29-07 A 9 10/26/2007 12:41 PM Page 1

“We’re trying to avoid simply be- Campus officials rethink security issues ing reactive,” says Dr. Henry Chung, NYU’s associate vice presi- dent for student health. Continued from Page 3 High School in Cleveland earlier In response to a string of suicides In testimony before the City response system. this month and a narrowly averted Sometimes it’s in the past few years, NYU has in- Council last month, officials from Just last month, Fordham’s de- tragedy at a Philadelphia high creased its early-detection efforts, City University of New York asked partment of public safety ran key school the same week are fresh re- unclear who is which include screening students for $6.4 million to support student administrative staffers through an minders that violence can erupt at for depression during routine med- counseling. CUNY recently began exercise in which a department any time. authorized to ical visits. offering free access to psychiatrists chairman, a student and a secretary Additionally, events in New and prescription medicines for stu- were shot and wounded. York, including swastika graffiti in a send a text alert Avoiding trouble dents with acute mental problems. Halfway through the drill, James Columbia University bathroom and the university also plans to install Garrie Moore, CUNY’s vice McShane, a former police captain is a noose hung outside the office of an phones with hotlines to campus-ad- chancellor for student affairs, says, charge of campus security, realized African-American professor at Co- ministered counseling services.And “Protecting our students also he hadn’t included a description of lumbia’s Teachers College, indicate the Student Health Center is work- means ensuring that those who re- the shooter to help catch him before tensions that could boil over into a building on Sept. 22—is a security ing closely with the security and res- quire professional attention are he left the grounds. crisis. concern and dramatizes how easily a idential staffs to determine ways to getting it.” “It’s a question of giving the right Even a suicide—like that of an mentally ill person can harm himself avoid overlooking those who might amount of information without NYU student who jumped from a or others. be dangerous or in danger. COMMENTS? [email protected] putting the place into a panic,” Mr. McShane says. Violent incidents have taken place on campuses for years. If any- thing, schools have been safer since the Columbine tragedy in 1999 and the resulting 24/7 media coverage that raised awareness. Though their systems aren’t 757 perfect, campuses in New York City THIRD are safer than most, according to security experts. Tighter gun con- trols and better coordination be- Available Space tween police and college personnel are contributing factors. Office: 4,050 - 27,138 sf Retail: 1,744 - 3,300 sf Little warning john kelly, a junior at St. John’s, Class-A office tower says he has always felt safe at college. Upcoming building-wide renovation program During the situation last month,the Tower floors with superb river and city views 20-year-old marketing major was at Steps to Grand Central Terminal the Carnesecca Arena, where stu- dents had been instructed to go in the event of a lockdown. A member of student govern- ment, Mr. Kelly was responsible for getting people off the street and Steve Morrows herding them to safety. In a matter 212.751.5480 of minutes, the NYPD had arrived [email protected] and arrested the suspect. Oliver Katcher “Having seen firsthand how well- 212.883.0526 [email protected] orchestrated everything was,I know our security plans work,” he says. www.RFRrealty.com But a shooting at Success Tech

EXPLORING CAREERS GROUP SEEKS HOST BUSINESSES THE GREATER NEW YORK COUNCILS’ Exploring program is seeking businesses to host edu- cational sessions offering high school students the opportunity to explore various industries and make better decisions about possible career choices. The Exploring program puts together groups of 15 to 25 stu- dents interested in specific fields. The groups meet at the host firms after school for four or more sessions, learning about career ladders, educational require- ments, salaries and what people in their selected fields actually do. Programs start throughout the year. Participating organizations include Bloomberg, NYU Medical Center and Crain’s New York Business. For more details, call Exploring Director Bob Hayes at (212) 651-2808, or visit www.nyexploring.org.

October 29, 2007 | Crain’s New York Business | 9 CNYB 10-29-07 A 10 10/26/2007 3:00 PM Page 1

To reduce traffic, airlines agree to shift schedules

short run with the FAA,” says Delta originate at New York’s airports. Will move flights Chief Executive Richard Anderson, The FAA’s answer is to eliminate away from peak “even though we don’t think it will flights. The airlines and the Port be efficient in the long run.” Authority of New York and New hours as they try The Air Transport Association, Jersey, which operates the airports, which represents most major U.S. insist there are technological and lo- BUSY HUB: to avoid FAA cap carriers, opposes the FAA’s propos- gistical fixes that would allow for the Through August, al. Mr. Anderson is also fighting the expansion of flights. The Port Au- JFK got only 68% BY HILARY POTKEWITZ of its flights off cap but says he is willing to work thority has proposed dozens of im- the ground on with the FAA “for the good of the provements, many of which could time. in an effort to prevent the Feder- whole.” be implemented before next sum- al Aviation Administration from mer. Those include remapping air

taking over John F. Kennedy Inter- 40% jump in traffic routes for takeoffs and landings, us- landov national Airport’s flight program, jfk’s air traffic jumped by 40% ing high-tech sensors available in several airlines have agreed to this year, and the busy airport’s de- planes, and reducing “outdated” from us and giving [slots] to them,” JFK, will move dozens of flights out change their schedules to smooth lays skyrocketed. Through August, space restrictions between aircraft. says Mr. May. “We won’t be able to of peak hours by next year, cancel out the busy afternoon and evening it was the most-delayed airport in But the airlines’ biggest problem compete.” service to Nashville and Columbus, hours. the country, able to get only 68% of with the FAA’s proposal is that it’s and shift several flights from JFK to After the FAA threatened last its flights off the ground on time. discriminatory toward domestic Delta, JetBlue revamps Westchester County Airport. week to cap flights out of JFK at 80 Newark Liberty International and carriers,according to Jim May of the by next summer, Delta will elimi- “We look at it as self-help,” says per hour,a 20% reduction,Delta Air La Guardia ranked as the second- ATA. The recently approved Open nate its propeller planes and reduce a JetBlue spokesman.“JFK is so im- Lines and JetBlue Airways agreed to and third-most-delayed airports. A Skies Rule will bring more Euro- the number of small regional jets. It portant to us; we need to take the shift flights from the peak hours of recent Department of Transporta- pean carriers to JFK, but they are will also shift some of its flights out lead here.” 4 p.m. to 9 p.m. tion analysis determined that nearly likely to be exempt from the cap. of peak hours. “We want to participate in the 40% of travel delays nationwide “It’s essentially taking slots away JetBlue, the largest carrier at COMMENTS? [email protected]

eastern vice president of the Orga- screens, a handful of reserves aren’t nization of Black Airline Pilots. “It enough to get things back on track. Airline pilots detour around NY may be a little easier for us to get on “Airlines are overscheduling pi- a plane, but if flights aren’t moving, lots, and there aren’t enough of Continued from Page 1 nearby. When Capt. Jack Norman Newark-based pilots, only about a we’re not moving.” them,” says Kate Hanni, founder of many pilots assigned to New York or took a job with People Express Air- third live locally—many in Pennsyl- the Coalition for an Airline Passen- New Jersey refuse to relocate. lines in the 1980s,he moved his fam- vania’s Lehigh Valley, 75 miles from Fewer extra seats ger Bill of Rights. She blames pay Senior pilots usually have a say in ily to New Jersey from California.He Newark. Only 20% of JetBlue’s airline personnel have long had cuts and a history of furloughs for their placements, so it’s often junior rented a townhouse near Sparta, 1,300 pilots live in the New York more flexibility because they have driving pilots to cheaper cities.“Not pilots who draw the city’s airports. about 40 miles from Newark Liberty area, even though the Queens- access to jump seats—the extra seat having a crew available for all these Less able to afford New York area International Airport.The town be- based company is concentrated at up front where an off-duty pilot can scheduled flights is certainly one of real estate—their pay ranges from came so popular with airline person- JFK. American Airlines has 1,090 hitch a ride—even on competitors’ the problems, especially in New $37,000 to $70,000—junior pilots nel, they called it the “pilots’ ghetto.” pilots based here,but just 50% live in flights. But with packed flights and York,” she adds. feel they have little choice but to But real estate prices kept rising, the area.The few pilots who want to more pilots commuting, there are Capt. Demico Black knows the commute from cheaper parts of the so when Mr.Norman wanted to buy, be stationed here tend to be natives. fewer jump seats available. “It adds scenario well. One of the few native country. he wound up in Bethlehem, Pa., a “Everything’s done by seniority,” so much uncertainty; you just never New Jersey pilots, the 25-year-old Pilots endure stress-filled jour- 90-minute drive to Newark. The says Kit Darby, president and pub- know what flight you’ll be able to get works for a regional airline and often neys to get to work, and when they 59-year-old pilot can now count at lisher of AIR Inc.,an Atlanta-based on,” says Mr. Hoskins. has trouble getting home to Newark. hit the same delays that bedevil oth- least 30 pilots living within a 30- pilot career information service. But airlines and pilots insist that “We know that if there’s even one er travelers, their late arrivals can mile radius. “As suburban New Jer- “What you fly, when you fly and delays are rarely due to commuting cloud in the sky [in the Northeast], further disrupt airline schedules. sey became pretty expensive, this where you’re based.” snafus. Pilots are required to leave you’re going to be delayed,” says Mr. “You can end up spending two of became the next big place for people All this traveling, whether by room for at least three flights to de- Black from a waiting area at Char- your three days off flying,just to make to look for nice, middle-class family plane from the Midwest or by car liver them in time for their shift,and lotte Douglas International airport. it to work then home again,” says housing,” says Mr. Norman, now a from Pennsylvania, adds to the po- failure to report on time can be cause He is scheduled to fly to Newark Capt.Craig Hoskins,a pilot with Jet- captain with Continental Airlines. tential for complications. A rain de- for termination, especially in the and within an hour be in the cockpit Blue Airways. He’s been based at lay or a mechanical hiccup can send a first year. on a flight to Pittsburgh. His John F. Kennedy International Air- Out of range? cascade of woe through the schedule. Pilots and consumer groups say Newark-bound flight is delayed. port for more than four years but lives only detroit is a less desirable “Whether it’s coming to work or delays are instead largely due to “That Pittsburgh trip is probably in Bradenton, Fla. “The delays put posting than New York, says a transferring between trips, we are flight overscheduling.If a pilot’s first not going to happen [for me] today,” additional stress on getting to work.” spokesman for the largest pilot’s subject to the same constraints and flight misses a connection, most air- says Mr. Black. Two decades ago, pilots could af- union, the Air Line Pilots Asso- limitations as the general public,” lines have a few reserve pilots on call. ford to live in New York, or at least ciation. Of Continental’s 2,200 notes Capt. Gerry Dupree, North- But when delays are lighting up the COMMENTS? [email protected]

10 | Crain’s New York Business | October 29, 2007 Project2 7/11/07 1:22 PM Page 1

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VIEWPOINT Cap at JFK isn’t the answer editor in chief Rance Crain publisher Jill R. Kaplan ith delays soaring at John F. takeoff procedures that other airports use and modest EDITORIAL Kennedy International Airport, changes in air space corridors that could be implemented editor Greg David deputy managing editors Valerie Block, the New York area now has the immediately. Improving relations with controllers would Erik Ipsen distinction of having the have an even bigger assistant managing editors Carmen Fleetwood, Robert Hordt country’s three worst airports impact, though it is columnist Alair Townsend senior reporters Aaron Elstein, when it comes to on-time unclear if the Bush Lisa Fickenscher, Matthew Flamm, performance. But a Bush administration has the Tom Fredrickson, Samantha Marshall, Anne Michaud, Miriam Kreinin Souccar administration plan to drastically cut the number of flights resolve to do that. In reporters Theresa Agovino, Barbara Benson, during peak hours at JFK by imposing a cap is not only the meantime, carriers Elisabeth Butler Cordova, Erik Engquist, W Amanda Fung, Hilary Potkewitz, Gale Scott premature but unfair. are discussing shifting restaurant critic Bob Lape No one likes delays, and air travel in recent years has some flights from peak art director Steven Krupinski landov deputy art directors Carolyn McClain, become torturous everywhere. Newark and La Guardia have hours. ( JetBlue is Daniel Mednick long been the nation’s No. 1 and No. 2 worst airports.The willing to accept a cap if staff photographer Buck Ennis Any capacity copy desk chief Wendy Zuckerman growth of hometown-based JetBlue over the past decade has it is temporary.) copy editors Michele Arboit, controls should Thaddeus Rutkowski spurred Delta and American to expand their operations at Airlines recognize research editor Denise Southwood JFK, leading to a crisis this summer as the number of flights that some sort of associate research editor be applied Adrianne Pasquarelli scheduled during peak hours exceeded 100.The result: JFK capacity controls www.crainsnewyork.com overtook its neighbors in the dubious ranking. to all carriers eventually will be online editor Catherine Tymkiw online reporter Kira Bindrim Airlines are not entirely to blame, however.They and their necessary at JFK, but its EDITORIAL AND ADVERTISING OFFICES passengers are caught in the middle of an escalating war three large domestic 711 Third Ave., New York, NY 10017-5806 between the administration and the air traffic controllers carriers fear that their editorial: 212.210.0277 Fax 212.210.0799 advertising: 212.210.0259 union. JFK, with four runways, is operating an average 68 operations will be Cable craincom nyk flights an hour, or 68% of its maximum capacity; La Guardia, singled out.The Federal Aviation Administration proposal Fax 212.210.0499 Entire contents ©copyright 2007 Crain with only two runways, handles about the same number of of 80 flights an hour doesn’t apply to the more than 60 Communications Inc. All rights reserved. ®CityBusiness is a registered trademark of MCP flights, or 81% of its maximum capacity. Controllers appear foreign carriers using JFK. Any limits must include all Inc., used under license agreement. to be taking out their frustrations on JFK. carriers. TO SUBSCRIBE: Call 888.909.9111; fax 313.446.6777. The airlines and the Port Authority of New York and A solution must be found for delays at JFK, but with $3.00 a copy, $59.79 one year, $109.79 two years. New Jersey are offering a long list of alternatives to improve Newark and La Guardia at capacity, JFK must be allowed to www.crainsnewyork.com on-time performance, including changes in runway and handle more traffic if the city’s tourism industry is to grow. ADVERTISING AND MARKETING advertising director Jeff Adler business development manager Robert N. Grossman senior account manager William E. Squitieri LETTERS TO THE EDITOR account executives Andrew Carlin, Lisa Pearly, Jennifer Siniscalchi, Brigitte Stieglitz western account manager Ellen Mazen (Los Angeles) 323.370.2477 sales manager, classified The long and short of airport delays print & online John Gallagher newsletter product manager Catherine Evans Gittens WHY JFK? sales coordinator, print & online (See Crain’s online poll, with safety! administration. the importance of JFK to the Lulé Haznedari Page 13.) If Newark is No. 1 in cheryl ingersoll josh sedman advantage of other airport hubs. In sales coordinator Anita Perrino delays and La Guardia No. 2 in the absence of a new metropolitan credit Pat Grondziak 313.446.6082 delays, shouldn’t the FAA make THE DELAYS have been getting I WOULD BE HAPPY to pay more if I international airport, what seems to marketing director Amy Crossman changes there? And what about worse over the past two years and thought I’d actually take off on be the only solution is to off-load marketing manager Jill H. Bottomley marketing coordinator Jenny Mashberg Stewart Airport? Can’t we do need to be addressed.The most time! domestic flights to other airports. circulation manager Andrea Richardson more with neighboring airports? important service airlines can linda blyer paul whalen assistant circulation manager edward cohen provide after safety is on-time Rosalie Ford scheduling. EITHER WE ARE going to have reg- REGIONAL JETS should be general manager, interactive THE PORT AUTHORITY should be carl toriello ulated air travel or we are not. You prohibited at JFK, and they should Marc Minardo allowed to auction off arrival and can’t have it both ways because if be limited at La Guardia. technical producer Danny Porter departure slots.This would be the STEWART AIRPORT is an alternative. you do, the ticket prices will go larry david NEW YORK PRODUCTION most efficient way of encouraging Move the 20 eliminated flights through the roof. And once again, production and pre-press director carriers to use larger planes and there. the general public gets the shaft. Michael Corsi WRITE TO US advertising production manager shift flights to less busy times freddie cruz al gabrielli Marilyn DeMilta while at the same time creating Letters to the Editor: Crain’s New York Business, new revenue streams. LIMITS ARE NEEDED for the short ANYONE WHO UTILIZES JFK for 711 Third Ave., New York, NY 10017. Fax letters to PUBLISHED BY CRAIN COMMUNICATIONS INC. al lyons term. Other technical solutions international travel understands (212) 210-0799. Send e-mail to Crain’s staffers by chairman Keith E. Crain using their first initial, their last name and president Rance Crain will become available if the FAA the issue of flight delays at this Merrilee Crain THE INTOLERABLE DELAYS @Crain.com. For example, Editor Greg David is at secretary are not becomes more responsive to New critical international hub. It would [email protected]. Names are in the list to the treasurer Mary Kay Crain even the issue. It is an extremely York’s needs, which it has failed seem that federal bureaucrats are right. All letters are subject to publication, provided executive vp, operations William Morrow dangerous situation. It has to do to do under the Bush launching a campaign to minimize they are signed. senior vp, group publisher Gloria Scoby group vp, technology, circulation, manufacturing Robert C. Adams vice president/production & manufacturing David Kamis WHAT’S COMING UP IN CRAIN’S? chief information officer Paul Dalpiaz corporate circulation director Business Guide Fastest- Privately Real Small Patrick Sheposh of law to growing growing held estate business founder G.D. Crain Jr. (1885-1973) report a business companies companies report report chairman Mrs. G.D. Crain Jr. (1911-1996) Nov. 5 Nov. 12 Nov. 19 Nov. 26 Dec. 3 Dec. 10

12 | Crain’s New York Business | October 29, 2007 CNYB 10-29-07 A 13 10/26/2007 12:37 PM Page 1

apartment market is coming from foreigners looking for second homes, who find even the inflated apart- ment prices here attractive.Similar- ly,investors from abroad are bidding for Manhattan office buildings while U.S. buyers find access to credit tightening. Wall Street firms are getting a piece of the action by We are pleased to announce the promotion of arranging deals in which European and Canadian companies buy American enterprises. Nowhere is weak dollar’s impact more clear than in the tourism sec- tor.International travel is up sharply this year, with visitors from Ireland, the United Kingdom and Russia ac- counting for some of the biggest gains.They can afford the city’s soar- ing hotel rates, which average about $300 a night. In turn, their presence Andrew Behymer helps many other businesses. For example,Crain’s Chicago Busi- ness recently reported the woes of small shops whose sales are slipping john h.john howard because the European goods they stock have become so expensive. to Senior Director When Crain’s New York Business asked retailers here if they were fac- ing similar problems,the answer was Waiting for fallout an emphatic “no.” The tourists are snapping up whatever merchants stock, no matter what the price. www.cushmanwakefield.com as dollar drops Thank those Irish housewives. With so many visitors from abroad,New York will easily surpass he tale being repeated by hotel executives goes last year’s record total of 44 million something like this. Irish housewives call up their tourists, who spent about $25 bil- lion and helped support some friends on a Thursday and decide on the spur of the 368,000 jobs, according to NYC & moment to fly to New York with nothing but the Company, the city’s tourism arm. clothes on their backs. Then they shop until they Since the latter figure represents drop, taking advantage of the strength of the euro against the 10% of all the jobs in New York, it is T fair to say that tourism is the city’s dollar to replenish their wardrobes at incredibly low prices. second most important sector. Its most important business, There must be some The dollar recently however,could be hurt when the Fed hyperbole in the de- reached an all-time low moves to deal with the consequences tails—after all, hotel against the euro, with of the large trade and federal budget rooms are hard to come each euro worth $1.40. deficits,the underlying causes of the Big business by on short notice—but The Canadian dollar is dollar’s decline.Addressing those is- there is no doubt that almost at parity with the sues will eventually require the Fed deserves the weak American greenback, a level it to raise interest rates—possibly by a dollar is great for the hasn’t achieved in more significant amount—and that will a nice New York economy in than 30 years.In the sim- be bad news for Wall Street.Consid- the short term. Long plest terms, a weak dol- er the fact that at $25 billion, tourist big room. term, the impact might lar means it is cheap for spending is only marginally higher be different. GREG foreigners to buy things than Wall Street bonuses, and far This is a numbers DAVID American and expen- less than the securities business’s to- story. The dollar’s sive for Americans to tal contribution to the economy. lengthy swoon has ac- buy things foreign. The weak dollar is a gift horse celerated since the Federal Reserve Real estate brokers say that much now, but it will be a Trojan horse in Board cut interest rates last month. of the strength in the Manhattan the future.

CRAIN’S ONLINE POLL DO YOU AGREE WITH THE FAA’S PROPOSAL TO CAP THE NUMBER OF FLIGHTS AT JFK AIRPORT AT 80 PER HOUR? We have 288 of the largest guestrooms and suites in Manhattan featuring NEARLY THREE-QUARTERS of the 236 high-speed internet access workstations and plenty of elbowroom. Wherever your respondents to a Crain’s poll back the business takes you, it’s only minutes away from our Midtown location. Federal Aviation Administration’s proposal 29%. No, the limits Our renowned Moda Restaurant offers superb Italian cuisine. Meetings and would special events accommodate from 10 to 400 people. Think big. Think Flatotel. to cut the number of flights per hour at JFK Yes, the reduce Airport by 20%, citing soaring delays. On delays are .71% service and intolerable raise prices the flip side, 29% of respondents oppose the plan because it would probably result in I NTIMATE TAILORED C OSMOPOLITAN higher plane fares. A New York City Hotel 135 West 52nd Street For readers’ comments, see Letters to the Editor on Page 12. Reservations at 212.887.9400 ~ 1.800.FLATOTEL ~ www.flatotel.com

October 29, 2007 | Crain’s New York Business | 13 CNYB 10-29-07 A 14 10/26/2007 2:10 PM Page 1

start with one strike against him: ill will from the Democratic county organization. It stems from FARLEY PLAN Bad beginning? THE INSIDER Sampson’s decision to support THE SPITZER ADMINISTRATION unveiled its long-awaited plan for Penn Station Malcolm Smith, D-Queens, over (below) and surrounding blocks last week, a project designed to create a new Martin Dilan by Erik Engquist and Anne Michaud Brooklyn’s own for the transportation hub and spur a vast new retail and office complex on the scale Senate minority leader’s post last of Rockefeller Center. year. Assemblyman Vito Lopez, the However, the Empire State Development Corp. may have dealt the project county Democratic chairman, has a setback by omitting details. Missing are a cost estimate, architectural been trying to unify the borough’s drawings and an agreement about the terms under which Madison Square elected officials to win key Garden would move into the James A. Farley Post Office annex. leadership posts, and Mr. “We think it’s off to a bad beginning,” says Municipal Art Society President Sampson’s support for a Queens Kent Barwick. “It’s a beginning that will fuel cynicism, and that’s a mistake colleague undermined that effort. when you need public support.” Estimated at $900 million when it was proposed on a smaller scale by Columbia’s course former Gov. George Pataki, the project may need another $1 billion to $2 billion in governments funds. attracts support The project has risen from the ashes the regional plan association of the Pataki-era plan to put a transportation hub in the former Farley

bloomberg news has come out in favor of Columbia University’s 17-acre expansion in Post Office, which the Public Authorities Parking violation at Hudson Yards? West Harlem. RPA President Control Board rejected three times last Robert Yaro says that great year in hope of this grander design. n old city agreement with the state to limit carbon universities confer many benefits Vornado Realty Trust and The Related on economies around them and Companies are the developers. monoxide in Manhattan below 60th Street threatens predicts that the expansion will The bold plan calls for filling the eastern half of Farley with a new train hall the city’s plan to allow more parking around Hudson generate tens of thousands of new called Moynihan Station and moving the Garden into the western half of the A jobs and even new industries. building. Relocating the Garden would permit the reconstruction of Penn Yards, where a massive development is planned. Two years ago, the city rezoned the area for development “We can’t imagine now what Station and would ease crowding for passengers of Amtrak, New Jersey they are,” he says. “We need to Transit, the Long Island Rail Road and the New York City subways. and replaced parking restrictions with parking mandates— make it attractive for them and let People who took an ESDC-sponsored tour this month say that the Garden possibly violating the air quality pact.The state Department the free market do the rest.” Service is requesting interior changes to the Farley building that could turn the train of Environmental Conservation, which enforces federal air and technology industries hall into little more than a lobby for the sports and events arena. A organized around smart, creative promotional wall for Garden shows, for example, is under consideration. quality standards, has asked the city that the state will accept a people are likely. The ESDC may have rushed its announcement. Downstate development to justify the increase in parking. previously completed parking czar Patrick Foye is under “unfair” pressure to produce a project, given the The Bloomberg administration study. Jacob K. Javits Convention Center delays, Mr. Barwick says. And the Garden contends that the parking Up in arms wants to show momentum so that it can compete for corporate luxury box restrictions hindered development Sampson on outs over armory sales with the Jets, Nets, Mets and Yankees, all of which have new sports and weren’t needed to meet federal facilities in the works. standards, but it may have to with B’klyn Dems a group of unions and conduct a study to prove that, community leaders demonstrated according to the Tri-State if state sen. john sampson, at the city-owned Kingsbridge Armory Transportation Campaign.The D-Brooklyn, runs for district in the Bronx this past weekend to agreement when the vast, castle- gather from constituents, much as city’s Law Department is confident attorney again in 2009, he would call for a community benefits like structure is redeveloped. the Police Department does with Organizers want a local hiring reported crime through program and a requirement that CompStat. 75% of armory tenants pay living One councilman says every wages. member’s Web site is being The city’s Economic upgraded to give individual Development Corp., which is members more control over scheduled to award the project in content. the next two weeks to The Related The council hired a consultant Companies or Atlantic to develop CouncilStat and has Development Group, wrote in the been testing it in a number of bid document that it would favor council offices. projects providing retail jobs paying You’re working at least $10 an hour plus benefits— an unusual provision in an EDC Thompson, Quinn project. Related and Atlantic are compete for seats for change. reportedly hedging. Jeff Eichler, an organizer for the city comptroller William Retail Wholesale and Department Thompson Jr., a mayoral candidate, Is it working for you? Store Union, says that Related has sold slightly fewer struck a living wage agreement for a breakfast seats for THE INSTITUTE FOR NOT-FOR-PROFIT MANAGEMENT project in Los Angeles, and his address to the 2008 OPEN PROGRAMS. RWDSU wants a similar Association for a commitment here. Better New York The Manhattan Institute’s than City Council EXECUTIVE LEVEL PROGRAM, APPLY BY DECEMBER 3, 2007: Steven Malanga says the living wage Speaker Christine For senior managers, executive and regional directors, and administrators. agreement would be a first for New bloomberg news Quinn did. York retailers. “It could potentially Thompson But that may be LEADERSHIP DEVELOPMENT PROGRAM, APPLY BY FEBRUARY 5, 2008: put the retailers at a disadvantage because Mr. For mid-level and senior executives. and make it difficult [for landlords] Thompson was MIDDLE MANAGEMENT PROGRAM FOR YOUTH SERVICE ORGANIZATIONS, to sign up tenants,” he says. booked into a smaller room. He APPLY BY FEBRUARY 20, 2008: filled a 300-seat For mid-level managers engaged in youth development. City Council’s room at the Go to: WWW.GSB.COLUMBIA.EDU/EXECED/INM or call 212.854.6018. new system Hilton—with an daily news daily overflow crowd— councilstat is to be unveiled Nov. Quinn while likely 1 by City Council Speaker Christine mayoral rival Ms. Quinn. Her office won’t release Quinn had to turn people away details, but the speaker has said the from a 350-seat venue at the new system will professionalize Sheraton two weeks earlier. district offices and standardize their Mr.Thompson, however, data collection.The goal is to make attracted more members of the better use of the information they press. I

14 | Crain’s New York Business | October 29, 2007 CNYB 10-29-07 A 15 10/25/2007 6:56 PM Page 1

SMALL BUSINESS

Baby-gear biz risks all on one giant step IN A NUTSHELL SKIP HOP Leap to big boxes may Mass-market outlets now ac- brand and taking away customers.’” become readily available. But he FOUNDED count for 25% of Skip Hop’s rev- Eager to keep their specialty re- won’t do that with Skip Hop, be- November 2003 enues, but that gain could yet prove tailers on board, Skip Hop’s sales cause of the company’s promise of alienate company’s EMPLOYEES 20 costly.By pursuing huge new outlets, and marketing staffers called them exclusive items. boutique base Skip Hop risks alienating the scores last year, telling them of the expan- “Many companies see the growth REVENUES of boutique retailers nationwide that sion plans and promising to develop in big-box [stores] and lose sight of 2006 $5 million BY ERIKA RASMUSSON JANES helped the firm in its infancy. higher-end products that would be who got them there,” Mr. Tavasi 2007 $10 million (est.) “There’s a danger of losing busi- sold only at independent locations. says. “Skip Hop realizes that it still IN THE PIPELINE kip hop has come a long ness,” says Ari Ginsberg, a professor needs to be innovative, and that the Two new lines way since its founding in of entrepreneurship at NYU’s Stern Exclusivity’s potential right way to introduce products is of high-end diaper bags, the $79 2003. The firm, which be- School of Business. “Boutiques are ariel tavasi,a co-principal of Plan- through specialty stores.” Via and the $150 City Chic, will gan as a maker of stroller- going to say,‘I’m selling this as a spe- et Kids in Manhattan, says he con- debut in November. friendly diaper bags selling cialty product,and you’re diluting the siders dropping niche brands if they COMMENTS? [email protected] Sfor $54, now offers a baby-gear line boasting more than 20 products, from $8 pacifier protectors to $79 play mats.They share trendy colors, chic designs and an increasingly popular brand name. This past summer, co-founders Michael and Ellen Diamant put these accomplishments on the line with their boldest gamble to date: They began selling their wares at 1,500 Target stores and 75 Babies “R” Us stores around the country. With the mass-market boost, Skip Hop’s revenues are expected to more than double this year. But this achievement has required a lot of ef- fort and a willingness to take risk. “We were working on this busi- ness for a year,” says Mr. Diamant, a former Internet entrepreneur, who launched Skip Hop with his wife, a design executive. Among other things,cracking the mass market required overhauling the line and hiring more staff,which meant bringing in outside investors and giving up a stake in the firm. Getting Pottery wheel turning in the summer of 2006, the firm had started partnering with big chain stores by inking a deal with Pottery Barn Kids to supply the retailer with eight co-branded products. To work with Target, however, the Diamants needed to extensively revamp their offerings. While Skip Hop’s well-known brand and chic designs were natural fits for the re- tailer,its prices were not.So the Dia- mants proposed the development of a stripped-down, off-price line. The result, Spark by Skip Hop, features two items modeled after the brand’s diaper bag and compact changing wallet. But they have few- er bells and whistles and carry low- er prices; the bag retails for $29.99 MAGICAL PC and the changing wallet for $16.99. Figuring out how to satisfy the hugely detailed vendor require- ments of Target and Babies “R” Us MANAGEMENT. on everything from product labeling to shipping schedules proved to be an even tougher adjustment. “It took us three years of experi- ence and doing smaller programs for smaller yet significant retailers to know we’d be able to deliver to meet REMOTE PC SUPPORT GRANTS EVERY I.T. WISH. expectations,” Ms. Diamant says. With Intel® vProTM processor technology, your IT manager or IT service provider can diagnose and repair The effort also took more staff. PCs remotely, even when they’re off or the operating system is down.* So you can get back to what’s Skip Hop doubled its operations team intel.com/smallbusiness to four people and added a vice pres- really important: managing your business. Learn how easy it can be at ident of sales experienced in taking Intel® AMT requires the computer system to have an enabled chipset, network hardware and software, a connection with a power source and a corporate network connection. Setup requires configuration a boutique brand into large chains. and may require scripting with the management console or further integration into existing security frameworks, and modifications or implementation of new business processes. For more information, “Six months before we shipped see http://www.intel.com/technology/manage/iamt ©2007 Intel Corporation. Intel, the Intel logo and Intel vPro are trademarks of Intel Corporation in the U.S. and other countries. All rights reserved. anything, the team was in place to handle the business,” Mr. Diamant says.

October 29, 2007 | Crain’s New York Business | 15 CNYB 10-29-07 A 16 10/26/2007 2:18 PM Page 1

WEEK IN REVIEW For daily news updates, go to www.crainsnewyork.com

ECONOMIC SPOTLIGHT NYC child care workers unionize about 28,000 New York City child care workers voted to join the United Federation of Teachers as part of an attempt to improve wages and working conditions. Day care workers earn an average $19,000 a year. CBS Radio shuffle cbs radio revamped management to streamline operations. Regional Vice President Don Bouloukos becomes market manager of six New York outlets and general manager of Sports WFAN-AM. CBS Radio President and Chief Executive Dan Mason is now overseeing stations in the top 10 A home for Merrill markets. MERRILL LYNCH & CO. is leaning toward moving its headquarters to midtown on the site of the Hotel Harper’s MyBook Pennsylvania. The firm, which said no final decision has harpercollins will team up with been reached, could also remain at the WORLD FINANCIAL MySpace to produce an Economy Watch environmental handbook for CENTER in lower Manhattan when its current lease expires in young people. MySpace/Our NY area prices held steady in September after two months of little change. 2013. Another option is to move into Tower 3 at the World Planet: Change is Possible is to be The city’s jobless rate remained above the U.S. level, but narrowed the gap. Trade Center site when it’s built. released on Earth Day, April 22. AUGUST ’07 SEPTEMBER ’07 COMPARISON buck ennis NY area inflation change -0.1% 0.0% +2.4%1 Calorie recount NYC unemployment rate 5.7% 5.1% 4.7%2 Bear Stearns City fights the city’s health department SEPTEMBER JOB TOTAL3 12-MONTH CHANGE in partnership California blaze announced a new plan to force NYC employment 3,635,600 +48,400 fast-food chains to add calorie bear stearns cos. is creating a new york city sent a group of counts to their menu boards.The 1-Inflation rate for the latest 12-month period. 2-U.S. unemployment rate. 3-End-month figure, strategic partnership with Chinese firefighters and emergency latest version would apply to not seasonally adjusted. bank Citic Securities Co. in an managers to help battle the chains with 15 locations or more. NYC Hotel Stats Broadway Stats effort to bolster its access to the wildfires in California. Mayor The previous proposal was shot Asian market.The agreement Michael Bloomberg said the team, down by a federal judge last Room rates and occupancy levels rose Attendance and gross climbed in includes $1 billion in cross- which includes experts in month. A public hearing will be in August, pushing occupancy above the week ended 10/21, The League investments and the creation of an held Nov. 27. the 90% mark for the first time since of American Theatres and Producers Asian joint venture. June ’05, PKF Consulting data show. says. There were 22 musicals and Averages for the first eight months seven plays on Broadway that week, Bad news at BofA of ’07 were $269.06 and 86.0%. including five shows in previews. Cablevision nixes bank of america plans to cut Dolan buyout bid about 3,000 jobs, primarily in its Manhattan-based investment shareholders of Cablevision banking unit. Brian Moynihan, Systems Corp. rejected a $10.6 head of global wealth and billion buyout bid from the Dolan investment management, will family as undervalued.The become president of investment Dolans, who have tried to buy bloomberg news banking. He succeeds Gene Cablevision several times in the planning, sheltering, search and Taylor, who is retiring. past two years, had refused to raise rescue, logistic and human their offer of $36.26 a share. services, will be in California for up to two weeks. Great White wait Keep track of Time until December time inc. created the Time Inc. NYBOT might broadway producers began Capital IQ’s Weekly Deals Report Entertainment Group to oversee close futures pit imposing nine of the 15 terms of its People Group- and their final contract offer to the TRANSACTION SIZE Entertainment Weekly-branded the new york board of trade Broadway stagehands union.The COMPANY/LOCATION (in millions) BUYER/INVESTOR TRANSACTION TYPE properties. People Publisher Paul might shut down its futures pit in move came one day after members Optimost $52.0 Interwoven Inc. SB M&A Caine will become president of the next six months in response to of Local One of the International Manhattan the new unit. Entertainment the growing movement toward Alliance of Stage Employees Kirshenbaum Bond + Partners Inc. $15.2 MDC Partners Inc. SB M&A Weekly Publisher David Morris is electronic commodities trading, approved a strike authorization, Manhattan leaving after 21 years. according to news reports.The saying they would not work Viewpoint Corp. $11.0 Galleon Management, Diker GCI move would require board without a contract past Dec. 1. Manhattan Management, Atoll Asset Management, approval. —from staff reports and Chesapeake Partners Management, ASC Capital Partners Ltd. Astroland gets bloomberg news reports Broadband Maritime Inc. $0.5 Individual investors FB M&A extra season Manhattan Macy’s dons U Capital Group n/a SkyBridge Capital Partners, coney island’s Astroland signed Hilfiger Manhattan SkyBridge Capital (Cayman) Ltd. GCI a deal with Thor Equities that will AGA Marketing and Design, Farrar & Farrar n/a Marke Communications Inc. SB M&A allow the amusement park to macy’s inc. signed a deal with Manhattan extend its lease for one more Tommy Hilfiger USA Inc. to be Selected deals announced during the week of Oct. 14 for companies headquartered in metro New season. Astroland rides will reopen the exclusive department store York. n/a Not available. FB M&A: Financial buyer M&A represents a minority or majority acquisition of existing shares of a company with the participation of a financial buyer. GCI: March 16, 2008.Thor’s plan to retailer for Hilfiger men’s and Growth capital investment represents new money invested in a company for a minority stake. redevelop Coney Island is stymied women’s sportswear, starting next SB M&A: Strategic buyer M&A represents a minority or majority acquisition of existing shares of a company without the participation of a financial buyer. by an impasse with the city fall.The lines have estimated

bekka lindström bekka Planning Department. annual sales of $200 million. PRODUCERS imposed contract terms.

16 | Crain’s New York Business | October 29, 2007 CNYB 10-29-07 A 17 10/25/2007 5:15 PM Page 1

REAL ESTATE

Herrick Feinstein, and consulting More firms stay put rather company Interbrand are just a few of the high-profile tenants who have opted to renew leases this year. than face build-out costs A fair deal as head of the real estate practice at Herrick Feinstein, Carl Schwartz ters are in short supply. Joe Ryan, managing director of says he knew that options were lim- Dearth of product, Thomas Nelson, senior manag- Lehr Construction, says tenants ited and that moving to accommo- higher construction ing director for project management that go looking for new space are date the growing staff would cost at CB Richard Ellis Group, says shocked to discover the cost of a millions of dollars.The firm was re-

prices have many build-outs generally run between build-out. As a result, they renovate lieved when additional space be- lindström bekka $80 to $150 a square foot, while the their existing space, scaling back came available at its current loca- forgoing moves price tag for renovations ranges plans for a state-of-the-art office. tion, at 2 Park Ave. cost of moving.” from $25 to $75, depending on how Advertising agency BBDO, law “We struck a fair deal,” Mr. BY THERESA AGOVINO extensive they are. firms Davis Polk & Wardwell and Schwartz observes. “We knew the COMMENTS? [email protected]

faced with a lack of inventory and soaring build-out costs, large numbers of office tenants in Man- hattan are deciding it is more eco- nomical to stay put than move. Through the first nine months of the year, 113 tenants renewed their leases,a 33% increase from the year- earlier period, according to Cush- man & Wakefield Inc. With an office vacancy rate of 5.7% in Manhattan, pickings are slim when tenants go shopping. Even if they manage to find a suit- able location,the cost of moving and customizing a new space makes re- newing leases an attractive option. Brokers say that if a tenant doesn’t If moving isn’t going to save $5 a square foot, it isn’t worth it

save at least $5 a square foot at a new location, moving probably isn’t worth it. Another factor that is driving up renewals is the increased willingness of landlords to negotiate, given that rents aren’t rising as dramatically as they have in the recent past. Man- hattan rents averaged $62.91 a square foot in the third quarter, up 6% from the previous quarter, ac- cording to Cushman. That com- pares with an 11% rise in the second quarter from the first. “Landlords see growth is slow- ing,” says Matthew Astrachan, an executive vice president at Cush- man. Rather than take a chance on an unknown entity,property owners are more willing to bargain to keep good tenants. Higher build-out costs that newfound flexibility dovetails with an explosion in build- out expenses,which experts say have jumped between 10% and 20% in the last 18 months. Most of the in- creases are related to the higher cost of raw materials and the tight mar- ket in skilled labor. Skyrocketing oil prices have af- fected the cost of plastic construc- tion materials, such as PVC pipe. Prices for timber, cement and steel have also spiked. And with all the building going on in the city, skilled laborers like plumbers and carpen-

October 29, 2007 | Crain’s New York Business | 17 CNYB 10-29-07 A 18 10/25/2007 5:13 PM Page 1

REAL ESTATE DEALS

landlord, Lincoln Building Associ- Divisions going their separate ways ates, a partnership led by Peter Malkin. —theresa agovino Raymond James needed more estate become daunting when you Raymond James than the 30,000 square feet it cur- consider the most desirable first- heads for Park Ave., rently occupies at 250 Park Ave.,be- floor space,” he says. Croissants coming tween East 46th and East 47th Mitchell Waldman, president of to Hell’s Kitchen Penn Plaza; gallery streets,but wasn’t fully satisfied with Cogent Realty Advisors Inc., rep- moves up on E. Side any of the larger blocks of space it resented Ross Art Gallery in the french pastry shop La Berg- saw while conducting the search, deal, and Matthew Lovallo, a bro- amote will open its second location he equity capital and says Elliott Stern, a senior vice pres- ker with Stahl Real Estate Co., ne- at 515 W. 52nd St., between 10th and fixed equity divisions of ident at the company. gotiated on behalf of owner Madi- 11th avenues in the spring. Raymond James & As- Mr. Stern says the firm realized son/Fifth Associates. The original La Bergamote op- sociates Inc. will be it could save money by placing the The Rosses’original shop,Poster erates in Chelsea and draws a regu- housed in separate loca- fixed equity division in less expen- Gallery, will continue to operate in lar crowd with its croissants and café Ttions when the securities firm moves sive space. “The fixed equity divi- Westport, Conn. au lait. This second shop will offer next year. sion doesn’t really see clients,” says —elisabeth butler cordova those same delicacies in a 1,100- The equity capital division will Mr. Stern. “It doesn’t need to be in square-foot space on the first floor land at 277 Park Ave., between East high-profile space.” of a new residential tower called The 47th and East 48th streets, where Colliers ABR Inc. represented 532 MADISON AVE. is a gallery’s new home. More space Archstone Clinton. the company recently signed a 10- the owner of 277 Park Ave., and in Pipeline La Bergamote proprietors Ro- year lease for about 32,500 square Vornado Realty Trust, which owns main Lamaze and Stephan Wil- feet on the fourth floor. The asking 1 Penn Plaza, represented itself in the fourth floor at 532 Madison Ave., pipeline financial group inc. lemin got a good deal on the 15-year rent in the building is in the high the transaction. on the corner of East 54th Street. has signed a 10-year-lease at 60 E. lease. The asking rent was $54 per $90s a square foot, says Jordan —theresa agovino Their store, Ross Art Gallery, will 42nd St., doubling the size of its ex- square foot. Mandel, a broker at UGL Equis, use the space’s 10-foot-tall windows isting space to 25,000 square feet. “The rent was a little below mar- who represented Raymond James. to show their wares to passersby The company, which owns an ket because the landlord wanted Raymond James’ fixed equity di- Vintage posters when it opens in mid-November. electronic trading system,will occu- someone really good,” says Aaron vision will move into about 7,000 on Madison Avenue The Rosses looked for space on py about half of the sixth floor in the Gavios, executive vice president of square feet on part of the 39th floor Madison Avenue for about a year Lincoln Building, located between Square Foot Realty. at 1 Penn Plaza. The building’s main mickey and jodi ross wanted so before committing to the upstairs Madison and Park avenues. He negotiated the deal on behalf entrance is on West 34th Street, be- badly to open a vintage poster shop location. The asking rent there was The asking rent in the building is of owners Archstone-Smith and tween Seventh and Eighth avenues. on Madison Avenue that they took $60 per square foot, a fraction of the about $70 a square foot, according The Dermot Co. Howard Aaron, That lease is also for 10 years, and to the air—four stories up, in fact. hefty prices that dominate ground- to Brian Waterman, a broker at president of Square Foot Realty, the asking rent is about $75 a square The Rosses recently signed a 13- floor retail on Madison Avenue. Newmark Knight Frank, which represented La Bergamote. foot, says Mr. Mandel. year lease for 2,000 square feet on “The prices of Manhattan real represented both the tenant and the —elisabeth butler cordova

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18 | Crain’s New York Business | October 29, 2007 CNYB 10-29-07 A 19 10/25/2007 12:33 PM Page 1

MEETINGS & CONVENTIONS INSIDE Boutique hotels offer perks that draw big corporations PAGE 23 Transportation trends turn toward sustainability and productivity PAGE 24 Largest hotels in New York City PAGE 26 Bubbly out, sandwich lunches in Regulatory, internal scrutiny squeezes entertainment excess

BY ELIZABETH MACBRIDE robert schron says he was stunned by the client’s request. The New York event planner had chosen a $90 Veuve Clicquot for a gathering to celebrate a financial services company’s best year ever. After finalizing details of the party, Mr. Schron was approached by his contact at the company, who asked if he had “something less expensive.” Mr. Schron, who had considered the Veuve Clicquot a reasonably priced option, replaced it with something half the price and chalked the whole thing up to greater scrutiny of

how companies spend money. NASD’s Rule 3060, which governs In the past few years, regulators business entertaining, is expected to have been taking a bigger interest be approved soon by the Securities in the meetings business, forcing and Exchange Commission. The planners and their clients to be alert rule calls for companies to establish to anything that smacks of excess. policies for and track entertainment Events planners say they see more spending of more than $100. chicken and less steak, fewer pricey For nearly a decade, the rules wines, and many more expense have simply permitted “ordinary items subjected to government rules business entertainment,” and some and internal audits. firms interpreted that liberally. “There is more due diligence, In one mind-boggling case, bro- more thought going into the bud- kerage firm Jefferies Group paid for gets,” says Pam Block, president of a bachelor-party trip to Miami for PHB Events in New York. “We some brokers at Fidelity Invest- harry pulver jr. harry pulver can’t spend what we used to.” ments. The festivities included The latest rule to come down the dwarf-tossing as entertainment. pike will affect one of New York’s Jefferies was fined,because the SEC most free-spending sectors: finan- viewed the trip as an inducement to cial services.A new interpretation of See EXPENSES on Page 21 2008 All-Star game swings for NYC grand slam

moves to its new home across the restaurants and other businesses Event to bring in street. will be busy over baseball’s off- GOOD FOR BUSINESS 175,000 visitors; will For the city’s tourism industry, season making plans to share in the The economic impact of recent baseball All-Star games on host cities and though, there is no sadness about spoils of the midsummer classic. communities. it live up to billing? the All-Star game and its related The stadium was chosen by attractions—like the Home Run Major League Baseball, in part,“to YEAR CITY IMPACT BY ERNEST BECK Derby and Fan Fest. Although celebrate the history and tradition 2002 Milwaukee $50 million many New York fans are angry of one of baseball’s greatest cathe- 2003 Chicago $60 million after 31 years, the All-Star game that the Yankees and the Mets drals,” says Marla Miller, senior will return to Yankee Stadium as crashed out of this year’s playoffs, vice president for special events at 2004 Houston $65 million one of the last hurrahs for The city officials expect the All-Star Major League Baseball. 2005 Detroit $53 million House That Ruth Built. game and related events to draw an But the All-Star game hasn’t The bittersweet event for fans estimated 175,000 additional visi- generated the old-time emotions 2006 Pittsburgh $52 million will take place on July 15, only a tors over five days and generate or television ratings for quite some 2007 San Francisco $60-$65 million* few months before the 84-year-old nearly $150 million in economic time. With increasing interleague *Estimate. Source: Data provided to Major League Baseball by each host city

stadium is torn down as the team activity. Many of the city’s hotels, See NYC on Page 20 istockphoto

October 29, 2007 | Crain’s New York Business | 19 CNYB 10-29-07 A 20 10/25/2007 12:35 PM Page 1

REPORT NYC grand slam?

A LAST HURRAH: Before it’s torn down, Yankee Stadium will host the All-Star game. getty images

Continued from Page 19 Package tours are already being play and more competition from offered on www.sportstraveler.net, other sports, the game has lost some including a two-night stay at the luster in recent years. Sheraton New York hotel, which To counteract that, Major includes upper-level outfield seats League Baseball will hold promo- to the game, for $1,935. A similar tional events that will stretch from deal with three nights at the Millen- Memorial Day to the game date, to nium Broadway Hotel costs $2,225. boost awareness. A Sportstraveler spokeswoman says “We want to get everyone in- the site is receiving “dozens of re- volved,” says Lauren Ruderfer, vice quests a day” for the packages. president for special events and marketing at NYC & Company,the No cheap seats city’s official marketing and tourism tickets are expected to cost be- organization. tween $150 and $285, based on Among those with the most in- prices for the 2007 game at San volvement are the 16 officially des- Francisco’s AT&T Park. The gate ignated All-Star hotels in Manhat- revenue goes to Major League tan.These facilities will play host to Baseball and is split among all 30 MLB’s invited business partners,in- clubs. Yankee Stadium holds about 57,000. Organizers expect robust sales for the Home Run Derby and Gate revenue other events as well. Last year, the game and related events in San goes to MLB Francisco drew more than 124,000. But there are substantial chal- and is split lenges in whipping up excitement for the game that was first played in among all Chicago during the 1933 World’s Fair.Television ratings tell the story. 30 clubs The 1983 game, which was the event’s 50th anniversary, drew more than 27 million viewers, according to Nielsen. In 2007, the game deliv- ered 12.5 million viewers. The All-Star event hit a low in cluding sponsors, licensees, team popularity after the 2002 game guests and celebrities. Establish- when baseball commissioner Bud ments range from sophisticated Selig called a 7-7 tie following 11 in- boutique hotels like the Dylan and nings of play because the teams ran the Alex to the venerable Waldorf- out of pitchers. Astoria. Also included are the “There’s not nearly the same ri- Grand Hyatt, Crowne Plaza Times valry and animosity as there used to Square and Marriott East Side, as be,” says Mark Lamster, a baseball well as three W hotels. A total of historian and author of Spalding’s 4,000 rooms for three nights have World Tour, a book about baseball been reserved by the league. marketing.“They are no longer cut- throat competitions. The game has Things to do become a showcase for entertain- shuttle buses will connect hotels ment, but it doesn’t mean much and the stadium, as well as the Jacob more.” K. Javits Convention Center, the But Yankee Stadium’s last fare- site of Fan Fest. That event will well will be different, insists Robert feature interactive attractions, such Tuchman, president of TSE Sports as fantasy baseball and autograph and Entertainment, a sports travel signings. Even the trendy W hotels company. “Fans have a nostalgic will provide customized amenities sense for ballparks,” he says. and sports gifts, according to a spokeswoman. COMMENTS? cnyb@crain. CNYB 10-29-07 A 21 10/25/2007 12:36 PM Page 1

REPORT MEETINGS & CONVENTIONS

rather than a sit-down or buffet “If the client wants to put a $500 event. And Manhattan-based Taste vase of flowers on the table, it is [the Expenses under a microscope Caterers recently introduced lunch in planner’s] job to send a written a sea-green bento box to meet the memo about it,” Ms. Buchner- demand for an approach that is more Howard says. “If you knew that this Continued from Page 19 In an example of a firm’s attempts Companies are also getting cre- low-key but “still upscale,” say Presi- was out of the ordinary and did not steer Fidelity’s business to Jefferies. to keep a lid on costs, investment ative with the per-attendee cost for dent Jon Gilman. tell them, you are responsible.” The new rule, which will be en- bank Bear Stearns recently told PHB food and drink—a major regulatory Planners are realizing that they The changes are viewed mostly forced by regular audits, may fore- Events’ Ms. Block that it won’t hire focus. For example, Schron Associ- must read the rules. Ulla Buchner- with regret. stall such flamboyance. But it re- planners who charge a management ates recently put together a cocktail Howard, who owns an event plan- “Dinner meetings used to be a lot mains to be seen whether more fee. Other companies now ask for party minus the ubiquitous shrimp, ning company and teaches at New of fun and a useful way to meet peo- oversight will result in lower overall multiple bids and more detailed which cost $6 or $7 apiece at some York University’s Preston Robert ple,” says Michael Boult, chief exec- spending on Wall Street, where contracts. New York hotels. Tisch Center for Hospitality, utive of StarCite. “There were just wining and dining is the norm. “We are routinely dealing with Tourism and Sports Management, lots of people going to beautiful “I tell companies to consider the procurement department,” says Still upscale tells students—mostly meetings pro- restaurants.” who will be enforcing the rule: a Robert Hulsmeyer,senior partner at companies can also halve lunch ex- fessionals seeking certification—that government employee on a govern- Empire Force Events, Inc. penses by serving a boxed meal knowing the standards is their duty. COMMENTS? [email protected] ment salary,” says Chris Myers, co- chairman of the global compliance and governance practice at law firm Holland & Knight.“That employee is going to be thinking, ‘Nobody ever gave anything like this to me.’” Many Wall Street companies are developing systems to track spend- ing or are hiring vendors to handle compliance. “Tracking spending on a per- client basis is a … daunting chal- lenge,” wrote Scott Kursman, a sen- ‘We are routinely dealing with the procurement department’

ior vice president at Lehman Brothers, in a letter to the SEC. Like other large financial firms, Lehman,which supports Rule 3060, is developing a database for enter- tainment expenses. Tracking tools the emphasis on oversight is driv- ing growth at some companies. StarCite, a Philadelphia software firm whose products include event management tools,has grown to 400 employees from 80 in 2004, with about half a dozen based at financial services clients in New York. The movement to rein in extrav- agance began about five years ago, when the pharmaceutical industry Our custom-made business solutions adopted a code covering the enter- tainment of doctors.The code rico- leave other banks behind. cheted throughout the meetings Not every business challenge can be solved with the same approach. Imagine a bank that will business and affected luxury hotel groups like the Four Seasons and treat your needs unlike any other bank would. Now imagine that same bank making those dreams Ritz-Carlton, often the sites for ed- happen. At Banco Popular we are committed to the success of your business. With over 114 years ucational meetings for doctors. of banking experience we offer a wide variety of financing alternatives and experienced Drugmakers have been subject professionals that will provide unique solutions for your particular banking needs: to escalating enforcement as drug Lending options for commercial and Real Estate projects • Cash Management Services prices remain a national concern. Depository Accounts • Insurance and payment processing The Food and Drug Administra- If you are looking for innovative solutions other banks may not offer, come to Banco Popular. tion sends inspectors to some con- Visit us or go to www.bancopopular.com for more information. ferences and monitors sales reps’ records for gifts or entertainment that might be offered to sway doc- tors to use a company’s products. The Sarbanes-Oxley Act of Call our Commercial Banking Specialists to find out about our services: 1-800-250-6968 2002 has also had an impact. Passed ©2007 Banco Popular North America. Member FDIC. Equal Housing Lender. after a series of corporate scan- dals—including one involving a $2 million, company-funded party in Sardinia thrown by Tyco Interna- tional Ltd. Chairman Dennis Ko- zlowski—the law emphasizes dis- closure and transparency.

October 29, 2007 | Crain’s New York Business | 21 CNYB 10-29-07 A 22 10/25/2007 12:38 PM Page 1

REPORT

Discover the benefits WWW.CRAINSNEWYORK.COM of hosting your next MEETINGS & CONVENTIONS INFO ON THE WEB business gathering with us Select “Hospitality/Tourism” in the industry section of the form. Events View a current listing of local seminars and networking events. Back issues Use the archives to find Crain’s stories in any previous edition of the Meeting Planners Guide Crain’s paper. New York Business has developed Subscribe the most comprehensive local guide Use the to party spaces and centers for “Subscribe business gatherings. This annual now” button 532 newly renovated guest rooms and suites, 20,000 square feet of meeting space, and a guide, covering conference spaces, to order the dedicated banquet staff hotels and venues, can be weekly print edition of Crain’s as well downloaded for free. To view it, go to as digital subscriptions to the the “Resources” section of newspaper, the daily Insider political www.crainsnewyork.com and click newsletter and the daily Pulse health on “Plan a Meeting.” care newsletter. Resources Get easy access to business lists, guides, industry news and other invaluable research tools. Breaking news For free e-mail alerts about the hospitality and 49 West 32nd Street, New York, NY 10001 tourism industries, go to Tel (212) 277-2647 www.radisson.com/martinique www.crainsnewyork.com and click on “Sign Up For Free News Alerts.”

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22 | Crain’s New York Business | October 29, 2007 CNYB 10-29-07 A 23 10/25/2007 12:40 PM Page 1

REPORT MEETINGS & CONVENTIONS

fer, it is also the reason they can at- tract higher prices. Big firms turn to smaller hotels “We don’t cater to large corporate meetings, but we do compete with the large brands for individual cor- hotel 100% corporate business, be- outside sales teams and by working and Out magazines. porate travelers,” says Troy Furbay, Boutiques offer better cause senior executives come to our with high-end travel companies to What boutique hotels cannot of- senior vice president, acquisitions perks, convenience hotels to hobnob with other attract corporate business. fer are widespread discounts or room and development, for Kimpton Ho- of Manhattan; no rainmakers, models, actress- for big events. Most have less than tel & Resort Group, which owns es and entertainers,” says $400 Ad campaign 2,000 square feet of public space. The Muse Hotel and 70 Park Av- widespread discounts Elon Kenchington, chief STARTING hampshire Hotels & Re- “Negotiated rates with boutiques enue Hotel in Manhattan. “Every- per-night operating officer of the room rate at sorts, which owns the Time, are typically 10% to 15% higher than thing is about design, identity, vibe Gansevoort Hotel Group, some boutique Dream and Night hotels in the chains,” says Priscilla Campbell, and feel. Guests feel attended to— BY TINA TRASTER adding that 35% of the ho- hotels Manhattan, is rolling out a practice leader for American Ex- which is impossible when you’re tel’s business is corporate. $1.5 million advertising press Travel advisory services. staying at a 2,000-room hotel.” manhattan’s meatpacking district Still, the company supplements campaign in 2008 aimed at business While the smaller size of bou- isn’t the typical place for Citigroup’s its in-house marketing efforts with travelers in niche media like Surface tique hotels limits what they can of- COMMENTS? [email protected] executives to hold corporate events. But Bob Cummings, managing director and head of U.S. fixed in- come, decided to hold his division’s annual conference at the trendy Gansevoort Hotel instead of the usual large midtown hotels where the company often hosts events. “We used to meet at a Marriott in a space that had no windows,” he says. “Imagine how different it was to have poolside cocktails and carv- ing stations and 360-degree views of Manhattan.” Citigroup is just one of the grow- ing number of corporations turning to city boutique hotels for their events. New York’s approximately 25 notable boutique hotels, which have flourished with the hip jet-set crowd for more than a decade, have become a viable option for corporate travelers and event planners in Manhattan. It’s an experience that doesn’t come cheap. Some boutiques com- pete with corporate rates, which are typically around $250 per night, LUXURY IS AT THE while others hold steady at $400 and TOP OF OUR AGENDA up per night. Executives from Bris- tol-Myers Squibb, Ernst & Young and Pfizer are among those that pay up to 20% more than they would at a national chain. Room shortage although many companies na- tionwide are cutting back on corpo- rate travel spending, boutique ho- tels in New York City are in a strong position because of the shortage of available rooms. Corporations are forced into paying more if they wish to hold events in Manhattan. “If you’re a hip Internet compa- ny, you probably don’t want your people staying at a Super 8,” says Sean Hennessey, chief executive of Lodging Investment Advisors. But it’s not just upstart compa- nies that are interested in boutique hotels. The 187-room Gansevoort has done business with Goldman Sachs, Credit Suisse, Hugo Boss and other Fortune 500s since it opened in 2003.Hotel perks include Detroit’s ultimate entertainment destination is now the legendary chefs Wolfgang Puck and Michael Mina, a a courtesy car and a business perfect setting to host your next corporate event. Get resort-style spa and salon and the hottest nightlife, concierge. The entire property is ready for 30,000 square feet of functional event space the all new MGM Grand Detroit has the luxuries you crave wireless, and every room has a flat- from our stunning boardrooms, featuring state-of-the-art with the amenities your clients demand. Whether you need screen television, iPod station and technology to our Grand Ballroom with 14,000 square to inspire, motivate or celebrate, MGM Grand Detroit will other assorted perks. feet of event space where we’ll cater to your every leave a lasting impression. The all new MGM Grand Detroit A boutique hotel’s best-selling whim. Complete with a 400-room hotel, restaurants from is now taking reservations for meetings and events: feature is what it isn’t: the standard chain hotel that lacks intimacy and 877.MGM.EVNT (646.3868) flexibility. These 100- to 200-room properties, which have built a repu- NOW OPEN mgmgranddetroit.com

tation on personalized attention and ©2007 MGM Grand Detroit celebrity clientele,are courting busi- nesses that want to break the mold. “We’re not looking to make the

October 29, 2007 | Crain’s New York Business | 23 CNYB 10-29-07 A 24 10/25/2007 12:42 PM Page 1

REPORT The ride: beyond the luxury limo

Green vehicles, on the other Trends are hybrid hand, demonstrate a focus on cost- and office-functional cutting and environmental con- sciousness. as companies make “You’re making a statement with transport statement the type of transportation you choose,” says Catherine Chaulet, senior vice president of events at BY GWEN MORAN BostonCoach, which has an office in New York City. the cars that people drive can say Just a few years ago, a fleet of a lot about them. Corporations are standard black cars would have been now concerned about what the ve- fine for most companies. But today, hicles they use say about them. a corporation’s image is reflected in Illustrating that concern, two di- every detail, including the ground vergent trends have emerged for transportation chosen for meetings, transportation at off-site events: and providers must often scramble spacious coaches designed as an ex- to fulfill demand for both trends. tension of the office,and sustainable Patricia A. Nelson, executive di- vehicles. rector of the National Limousine Besides offering all the standard Association in Marlton, N.J., says luxuries, “executive coaches” feature that these moves aren’t unique to desks,faxes,video monitors and prac- New York but are occurring nation- tically anything else required to per- wide. form a day’s work. These coaches “We’re seeing more and more convey the idea that a company companies asking for things other means business and stresses produc- than stretch limousines,” Ms. Nel- tivity. son says.“They want even larger ve-

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24 | Crain’s New York Business | October 29, 2007 CNYB 10-29-07 A 25 10/25/2007 12:45 PM Page 1

MEETINGS & CONVENTIONS

hicles that hold many passengers— ery cars],” says Bill Connors, the portation isn’t limited to a type of minibuses or small motor coaches. trade group’s executive director. “It conveyance. And we’re seeing companies all over seemed like every company there Some companies help achieve that want to go green.” had a hybrid they were showing off.” their sustainability and cost-cutting Because no major automaker has The products displayed on the goals by operating airport and con- announced plans for a hybrid exec- trade show floor are not yet available ference shuttles less frequently. utive coach, a vehicle that combines on the market, though individual the two requirements is not on the providers have been revamping hy- Waiting game horizon. brids to make them more comfort- generally, “attendees will have DRIVE TIME: An executive coach (left) and a Prius serve different ends of the transport spectrum. Green vehicles are an obvious able and high-end. more patience if they know that way to cut expenses. For example, Ford Motor Co. is slated to in- [waiting for a bus] is part of a green hourly rates at OZOcar—a New troduce a modified version of its initiative,” Ms. Chaulet says. of an extended Hummer, which can In the meantime, one thing that York company with an entire fleet of Mercury Mariner SUV and market Companies and meeting plan- hold more than 20 passengers. everyone agrees on is that productiv- green vehicles—start at $50. In it to transportation companies for ners have their own wait—for a hy- Carmakers are working to re- ity-enhanced and green transporta- comparison, executive coaches gen- groups. Among its features will be brid superstretch limo.No manufac- solve the problems involved in pow- tion are trends that are here to stay. erally start at $250 to $300 an hour, an outlet for a computer. turer has anything on the drawing ering such large vehicles with green not including fuel surcharges. The demand for green trans- board that would equal the capacity technology. COMMENTS? [email protected] But even with the higher costs, the opportunity to have a mobile of- fice resonates with business travelers in the New York area, which is plagued with traffic. That was the issue for a corporate client of Empire Force Events Inc. that needed to transport meeting participants between Connecticut and Manhattan—the trip takes al- most an hour and a half on a relative- ly traffic-free day—and wanted to make use of every minute. “We suggested that they hire an executive coach set up like a living room, so that they could have a meeting while they were [on the move],” says Jaclyn Bernstein, pres- ident of Empire Force. Companies’ desire for efficiency while on the road showed up in a re- cent National Business Travel Asso- ciation survey, which found that 34% of respondents want Internet access in their vehicles. Surging demand meanwhile, the market for green name, design and related marks are trademarks of Hyatt Corporation. ©2007 All rights reserved. HYATT sedans and sports utility vehicles has surged over the past few years.In re- sponse, transportation companies are trying to increase their access to inventories of the cars. Ms. Chaulet says that since BostonCoach began offering hybrid vehicles earlier this year, half of its customers make the greener choice. The eco-friendly inclination was evident at the National Business Travel Association Convention & Exposition this past summer. “I never saw so many hybrid [liv- BOOK NOW ASSEMBLING a fleet of any particular type of car—be it green or basic black—takes some doing in the city, says Karen Shackman, president of des- tination management company Shackman Associates New York. Transportation for meetings can be comfortably arranged A FORWARD-THINKING SPACE FOR YOUR FORWARD-THINKING BUSINESS. within three months of an event, companies that want fleets of green or productivity-enhanced vehicles in New York should plan INTRODUCING THE CONFERENCE CENTER FOR SMALL MEETINGS AT HYATT REGENCY O’HARE. and make their requests at least six months in advance. Because providers may have to make arrangements to Finally, a small meeting center designed to accommodate your biggest ideas. Part of a $60 million sublease extra vehicles, they renovation, our new conference center features a state-of-the-art AV system, 24-hour FedEx Kinko’s need to be contacted as early as on site, wireless and wired Internet access throughout the conference center, ergonomic chairs, and even possible, even if a planner can your own meeting concierge. It’s the perfect space for big ideas to grow. For more information, have your provide only approximate meeting planner contact a Hyatt Representative, call 847 696 1234 or visit hyattregencyohare.com. numbers.

October 29, 2007 | Crain’s New York Business | 25 nb44p26.qxp 10/25/2007 12:25 PM Page 1

REPORT MEETINGS & CONVENTIONS New York City’s Largest Hotels Ranked by number of rooms No. of meeting No. of rooms/ Corporate/ Hotel owner/ General manager rooms/ square group No. of management Rank Hotel Phone/Web site suites1 footage guest room rate2 employees3 company Selected amenities

Hilton New York Conrad Wangeman 1,980 40 n/d 1,500 Hilton Hotels 4 Business center, on-site 1335 Sixth Ave. (212) 586-7000 46 150,000 health club, on-site 1 New York, NY 10019 www.newyork.hilton.com parking

New York Marriott Marquis Mike J. Stengel 1,949 54 $299-$699 1,850 Host Hotels & Business center, on-site 1535 Broadway (212) 398-1900 57 100,000 $299-$699 Resorts/Marriott health club, on-site 2 New York, NY 10036 www.nymarriottmarquis.com International parking

Sheraton New York Hotel and Towers Dan King 1,750 41 $259-$599 1,289 Host Hotels & Business center, on-site 811 Seventh Ave. (212) 581-1000 57 55,000 $259-$599 Resorts/Starwood Hotels health club, on-site 3 New York, NY 10019 www.sheraton.com/newyork & Resorts parking Hilton New York has New York’s Hotel Pennsylvania James Flynn 1,700 11 $189-$289 465 Vornado Realty Off-site health club 150,000 square feet 401 Seventh Ave. (212) 736-5000 35 90,000 $159-$259 Trust/independently devoted to meetings, 4 New York, NY 10001 www.hotelpenn.com managed banquets and other events. The hotel claims Grand Hyatt New York Matthew Adams 1,311 45 $289-$649 900 Hyatt Hotels & Resorts 4 Business center, on-site Park Avenue at Grand Central Terminal (212) 883-1234 55 55,000 $249-$649 health club, on-site that it is the largest 5 New York, NY 10017 www.grandnewyork.hyatt.com parking self-contained space in the city for these purposes. Milford Plaza Hotel Mark Miller 1,300 3 $339 300 Milford Plaza Business center, on-site 270 W. 45th St. (212) 869-3600 20 2,184 $219-$379 Associates/Oxford- health club 6 New York, NY 10036 www.milfordplaza.com Highgate Management

Waldorf-Astoria Eric O. Long 1,245 40 $299 and up 1,600 Hilton Hotels Corp. 4 Business center, off-site 301 Park Ave. (212) 355-3000 209 60,000 $299 and up health club, on-site health 7 New York, NY 10022 www.waldorf.com club

Roosevelt Hotel New York John Trovato 1,015 19 n/d 600 RHC Operating/Interstate Business center, on-site Madison Avenue at East 45th Street (212) 661-9600 52 30,000 Hotels & Resorts health club 8 New York, NY 10017 www.theroosevelthotel.com

Park Central New York Florencio Ferrao 935 10 $339 418 Highgate Holdings 4 Business center, on-site 870 Seventh Ave. (212) 247-8000 20 14,314 $239-$559 health club, on-site 9 New York, NY 10019 www.parkcentralny.com parking

Edison Hotel John Canavan 900 1 $165-$200 260 228 Hotel Corp. 4 Business center, on-site 228 W. 47th St. (212) 840-5000 35 960 $165-$200 health club 10 New York, NY 10036 www.edisonhotelnyc.com The Roosevelt Hotel’s namesake New York Palace Hotel Vito Terzulli 893 15 $620-$820 1,015 Amedeo Hotels 4 Business center, on-site newsletter, Teddy’s 455 Madison Ave. (212) 888-7000 86 22,000 $520-$820 health club, on-site Telegram, features profiles 11 New York, NY 10022 www.newyorkpalace.com parking, spa of the hotel’s employees Westin New York at Times Square John T. Sweeney 863 32 n/d 587 Dream Team Hotel Business center, on-site and the history of the 270 W. 43rd St. (212) 201-2700 29 34,000 $349-$649 Associates/Starwood health club, spa hotel where late, great 12 New York, NY 10036 www.westinny.com Hotels & Resorts bandleader Guy Lombardo got his start. New Yorker Hotel-Ramada Plaza Kevin H. Smith 860 15 $169-$279 475 Holy Spirit Business center, on-site 481 Eighth Ave. (212) 971-0101 95 25,000 $149-$399 Association/New Yorker health club, on-site 13 New York, NY 10001 www.newyorkerhotel.com Hotel Managment Co. parking

New York Helmsley Hotel Mark Briskin 779 11 $300-$415 475 Helmsley Hotels 4 Business center, on-site 212 E. 42nd St. (212) 490-8900 5 8,520 $290-$475 health club, on-site 14 New York, NY 10017 www.newyorkhelmsley.com parking

Crowne Plaza Times Square Manhattan Asaad Farag 770 31 $300-$600 550 City Investment Business center, on-site 1605 Broadway (212) 977-4000 12 23,000 $300-$600 Fund/InterContinental health club, on-site 15 New York, NY 10019 www.manhattan.crowneplaza.com Hotels Group parking Crowne Plaza Times Square has Doubletree Metropolitan Hotel Sam Kapadia 755 13 $299-$559 303 Highgate Holdings and Business center, on-site 569 Lexington Ave. (212) 752-7000 24 12,000 $199-$599 Oxford Lodging 4 health club, on-site invested in new beds, 16 New York, NY 10022 www.dtnewyork.com parking quiet-zone floors and other amenities to help guests Le Parker Meridien New York Steven Pipes 730 9 $425 530 Jack Parker Corp. 4 Business center, on-site sleep at its noisy location. 118 W. 57th St. (212) 245-5000 197 10,000 $525 health club, on-site 17 New York, NY 10019 www.parkermeridien.com parking, spa

Radisson Lexington Hotel New York Brendan Moraes 705 3 $195-$525 205 Highgate Holdings 4 Business center, on-site 511 Lexington Ave. (212) 755-4400 40 1,026 $195-$525 health club 18 New York, NY 10017 www.lexingtonhotelnyc.com

DID NYC hotel NYC hotel International YOU average daily occupancy tourists who visited KNOW? room rate $269 rate 86% NYC in 2006 7.3M Average for eight months ended August 2007. Source: PKF Consulting Average for eight months ended August 2007. Source: PKF Consulting Source: NYC & Company

26 | Crain’s New York Business | October 29, 2007 CNYB 10-29-07 A 27 10/25/2007 12:30 PM Page 1

REPORT MEETINGS & CONVENTIONS

No. of meeting No. of rooms/ Corporate/ Hotel owner/ General manager rooms/ square group No. of management Rank Hotel Phone/Web site suites1 footage guest room rate2 employees3 company Selected amenities

Wellington Hotel Robert F. Cardillo 700 0 n/d 160 Wellington Hotel Co. 4 Business center 871 Seventh Ave. (212) 247-3900 85 0 19 New York, NY 10019 www.wellingtonhotel.com

W New York Ed Baten 688 6 $339-$499 650 Host Hotels & Business center, on-site 541 Lexington Ave. (212) 755-1200 61 8,388 $299-$499 Resorts/Starwood Hotels health club, spa 20 New York, NY 10022 www.whotels.com/nyc & Resorts

InterContinental, The Barclay New York Leland M. Lewis 686 18 $329-$639 515 InterContinental Hotels Business center, on-site 111 E. 48th St. (212) 755-5900 86 13,900 n/a Group 4 health club 21 New York, NY 10017 www.intercontinental.com/newyork New York Marriott at the Brooklyn New York Marriott at the Brooklyn Bridge Sam Ibrahim 665 25 $459 and up 450 Muss Development Business center, on-site 333 Adams St. (718) 246-7000 28 30,000 $259 and up Co./Marriott International health club, on-site Bridge has great views 22 Brooklyn, NY 11201 www.brooklynmarriott.com parking of Manhattan from many of its meeting rooms, but Sheraton Manhattan at Times Square Dan King 665 2 $259-$599 305 Starwood Hotels & Resorts 4 On-site health club, crossing the bridge can 790 Seventh Ave. (212) 581-3300 7 2,500 $259-$599 on-site parking 23 New York, NY 10019 www.sheraton.com/manhattan be tough when there’s rush-hour traffic. New York Marriott East Side Christopher Hosmer 646 18 $459-$699 450 Morgan Stanley/Marriott Business center, off-site 525 Lexington Ave. (212) 755-4000 17 20,000 $399-$699 International health club, on-site health 24 New York, NY 10017 www.nymarriotteastside.com club, on-site parking

Millennium Broadway Hotel Mark Sanders 625 45 $299-$599 600 Millennium Hotels & Business center, on-site 145 W. 44th St. (212) 768-4400 12 110,000 $299-$599 Resorts 4 health club 25 New York, NY 10036 www.millenniumbroadway.com

The Plaza is scheduled to reopen on Dec. 3, 2007. Hudson, which was included in the Top 25 list in 2006, with 802 rooms, declined to respond. New York City includes the five boroughs only. Crain’s New York Business uses staff research, extensive surveys and the most current references available to produce its lists, but there is no guarantee that these listings are complete. To qualify for this list, a hotel must be located in New York City. All information was supplied by the hotels. In case of tied figures, hotels are listedalphabetically. n/a Not available. n/d Not disclosed. 1-Number of rooms includes suites. 2-As of September 2007. 3-Full-time and full-time-equivalent, asofJune 30, 2007. 4-Hotel owner and managementcompany are the same. Research: Denise Southwood,AdriannePasquarelli and Sarah Studley

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October 29, 2007 | Crain’s New York Business | 27 CNYB 10-29-07 A 28 10/25/2007 1:54 PM Page 1

AMERICA’S PREMIER CONFERENCE RESORT Need a strategy meeting? REPORT Call Doral Arrowwood. Visitors seek novelty trips to the boroughs beyond

Bronx art, B’klyn park TERMS OF ART: Bronx artists benefit give old hands new when out-of-towners visit; they can reach new buyers and share ideas, says insights; Manhattan’s Longwood Art Gallery’s Juanita Lanzó. still tops for full events

BY CARA S. TRAGER

while manhattan continues to be the hot spot for New York conven- tion-goers, the other boroughs are increasingly serving as havens for day-trippers seeking a genuine taste of the Big Apple. Plan on Doral Arrowwood Last December, Karen Shack- man dispatched a medical group for your next meeting. from Belgium to a part of the city Our strategy is simple: Your meetings and conferences are our they had never seen before:the Mott primary focus. Large or small, your meetings at Doral Arrowwood Haven section of the Bronx. There, simply have to be better than anywhere else. in the area’s emerging art colony, the 15 physicians shopped the gal- Next, satisfy our clients every time. We draw on 23 years of leries and even met with artists. experience and offer a staff of specialists who will roll up their “This group had been to New sleeves and get to work for you – from the big picture to the York,and they were interested in see- ing what goes on outside of Man- smallest details. hattan,” says Ms. Shackman, presi-

Finally, offer the ideal combination of state-of-the-art dent of Shackman Associates New buck ennis conference rooms, luxurious guest accommodations, outstanding York,a Manhattan destination man- agement and event planning firm. back with box lunches in the park. rooms or more, six times the com- food, extensive recreational and fitness facilities and a very For the been-there, done-that Besides appealing to meeting at- bined number of 10,151 rooms in the convenient location, just 45 minutes from mid-town Manhattan. crowd, the boroughs outside Man- tendees,such jaunts score points with four other boroughs, according to That’s our strategy. Focus on yours – at Doral Arrowwood, hattan are gaining ground as in- businesses in the other boroughs. Smith Travel Research. In the bor- triguing places to explore, if not “Visitors from outside the Bronx oughs outside of Manhattan,most of of course. necessarily locations in which to not only represent prospective buy- the rooms are located in Queens,near hold entire meetings. In many in- ers for the works of our local artists La Guardia and Kennedy airports. Call today. 866-784-0459. stances, groups are climbing aboard but also provide our artists with an chartered buses in Manhattan and opportunity to share ideas about Traffic headaches crossing New York’s waterways to emerging art trends,” says Juanita even that fact doesn’t help some sample life beyond the dazzling Lanzó, acting director of the Long- neighborhood enterprises attract lights of Times Square and the wood Art Gallery @ Hostos, which business. Since 2005,Terrace on the iconic Empire State Building. was among the places the Belgian Park, an upscale catering hall in CONFERENCE RESORT Such outings appeal both to in- group visited in the Bronx. Flushing Meadow Park, Queens, 975 Anderson Hill Road • Rye Brook • New York 10573 www.doralarrowwood.com ternational guests and to domestic But, as many planners see it, the has been trying to build its corporate visitors who have been to the city be- sightseeing and team-building op- event business by e-mailing Man- fore, giving businesspeople valuable tions available beyond Manhattan hattan meeting planners at least opportunities to get off the beaten aren’t enough to support entire every other month to attract out-of- path.Excursions run the gamut from meetings. The other boroughs are town clients. But the firm—which a detour into Bronx neighborhoods still eclipsed by Manhattan’s cachet, handles about 200 business events a en route to a gala dinner at the Bronx tourist sites and abundant hotel year,most of them for local firms and Zoo to a show at a Russian night- space, which continue to play a piv- associations—has gotten no bites. club in Brooklyn’s Brighton Beach. otal role in drawing attendees. “Most people fly into New York Not long ago, Jaclyn Bernstein, The 665-room Marriott at the at Kennedy or La Guardia, but the Envision,Inspire,Innovate president of Empire Force Events Brooklyn Bridge is one hotel that’s Manhattan hotels are getting the Inc. in Manhattan, arranged for a beating the odds. It has recorded business,”laments Brian Peralta,the group from a European pharmaceu- about a 40% increase in meeting vol- hall’s director of operations. ticals company to tour Williamsburg ume this year, thanks in large part to Transportation can also deter and Borough Park’s Orthodox Jewish the addition of 289 guest rooms in planners from holding programs in enclaves.She capped off their Kings 2006,and it has served as the hub for the boroughs beyond Manhattan. County sojourn with lunch at Peter national gatherings of the American Traffic problems can throw an agen- Luger Steak House in Williamsburg. Institute of Architects and the da off schedule and pose a vexing The perfect setting... American Booksellers Association. problem for attendees, besides. Experiential trips Among the reasons for the hotel’s “It can cause some to question, Large and Small Conference Rooms borough visits “are more experi- successes is that facilities in the bor- ‘Why are they dragging me out Accommodating 10-250 Attendees ential,” says Ms. Bernstein. “They oughs outside Manhattan frequently here?’ ” says Ms. Bernstein of Em- Close Proximity to Manhattan give you the neighborhood feeling offer better rates.The Brooklyn Mar- pire Force Events. Private, distraction-free environment, ideal for that the city offers.” riott can be as much as 20% cheap- With that in mind, Ms. Bern- This past summer, a similar con- stein provides her busloads of meet- board meetings, strategic planning and senior management retreats. er than the Marriott Marquis in viction spurred Ms. Shackman to Times Square, depending on occu- ing-goers with a tour guide and, oc- 187 well-appointed guestrooms, wired and wireless Internet access. take a group of about 30 Canadian pancy and group demand,says Gary casionally, an informative video. Enabling technologies throughout. financial managers to Brooklyn’s Marmer, the Brooklyn Marriott’s These amenities not only shed light Serving award-winning cuisine. Prospect Park for four hours. They director of sales and marketing. on the sites the group will be visit- participated in a community service But on the whole, the other bor- ing, but also help distract attendees 516516516-516---671671671671----6400640064006400 and team-building activity, which oughs can’t compete with the num- from the bumper-to-bumper traffic www.glencovemansion.com included scraping paint off weath- ber of Manhattan lodgings. that may surround them. Within 30 miles of New York City ered benches and pulling weeds from Manhattan boasts 63,394 guest COMMENTS? 21 miles from LaGuardia and JFK i Convenient to the LIRR flower beds. The group also kicked rooms in properties with 15 guest [email protected] CNYB 10-29-07 A 29 10/25/2007 7:34 PM Page 1

NEIGHBORHOOD JOURNAL New bank fills gap in South Bronx

miles south:the parking lot of a Mill the adjacent Jamaica Bay inlet. mini-mall/land-swap plan by Will offer services Basin Toys “R” Us. So far, so good. opposing the zoning change to lower-income Of course, the toy store couldn’t But when Toys “R” Us entered that it requires. And that is ex- do without parking, so the city of- bankruptcy protection, Vornado actly what he’s threatening to CHECKSPRING is opening after months of delays. residents; land-swap fered it an adjacent parcel of land in Realty Trust snapped up the store’s do—unless Vornado promises debate in Brooklyn exchange for its parking lot.Kristal’s site. Community leaders began to to keep a toy store in the space. move would complement a larger fear that a busier enterprise would Mr. Fidler figures toy stores don’t tolerate a high-traffic store like tarting next month, project next door for a modest new replace the toy store, creating more create much traffic most of the year. Wal-Mart or Sam’s Club. residents of the South mall, which would include a Home traffic at the bottleneck intersection As much as he likes the plan for a “I know I’m speaking for my Bronx can tell each other Depot, a bookstore and a bed- of Flatbush and Avenue U. renovated marina and new mini- community when I’m looking to to “take that to the bank” room/bathroom store. To keep the Enter Lew Fidler. As the City mall, and wants to save minority- prevent another big-box store,” he with a bit more conviction. locals happy, the project would in- Councilman for Mill Basin, he owned Kristal Auto Mall and its explains. SAfter months of delays, the neigh- clude a renovation of a marina on could throw a wrench into the entire dozens of jobs, he says he could not —erik engquist borhood will get its first bank branch in recent memory when CheckSpring Bank finally opens at the corner of East 167th Street and Gerard Avenue. The bank will offer what its founders call hybrid services: check cashing, which will be available to customers whether they are account holders or not; and account services like checking and savings, with lim- its well below those of most banks. You provide The aim, says founder and Chief Executive Charles Wilcox, is to al- low the predominantly lower-in- fi nancial reports. come residents of the South Bronx an opportunity to enter the financial realm and establish credit. “We chose the Bronx as the place to start because it has the highest number of check cashers per capita and the lowest number of banks per capita,” says Mr. Wilcox, a former resident of the neighborhood. While Manhattan boasts just 3,000 people per bank branch, the South Bronx has about 15,000 resi- dents per branch. CheckSpring is located in the heart of Community Board 4, where it will be the only bank within a 10-block radius. “We are certainly happy to have them coming here,” says D. Lee Ezell, chair of the community board. Ms. Ezell estimates that in a neighborhood of less than two square We provide miles, there are at least 50 check- cashing stores, which charge notori- ously high fees for their services. direct reports. Originally slated for last year,the bank’s opening has been delayed by We deliver the skilled candidates you need – fi nancial regulatory hurdles. Part of the Recognized as one of the 400 struggle, explains Mr. Wilcox, is professionals who are matched to your job requirements. CheckSpring’s aim to offer services No fi rm has a network as far-reaching as Robert Half Best Big Companies in America by to individuals even if they’re not ac- Finance & Accounting, with immediate access to over Forbes magazine for the sixth year. count holders. 2 million fi nancial professionals. And no fi rm is more “Most banks currently in exis- tence don’t offer products needed by skilled at putting experienced people at your fi ngertips, folks that don’t have a lot of mon- quickly and cost-effectively. Think of us as your direct ey,” he says. They also typically do line for direct reports. not offer services to undocumented immigrants. Mr. Wilcox says CheckSpring will serve customers within the bounds of the law. —hilary potkewitz Midtown, NY • Wall Street, NY • Uniondale, NY • Hauppauge, NY • White Plains, NY • Stamford, CT Jersey City, NJ • Paramus, NJ • Parsippany, NJ • Woodbridge, NJ • Princeton, NJ • Mt. Laurel, NJ Taking sides in Mill Basin 1.800.474.4253 when economic development roberthalf.com and Brooklyn politics meet, things can get complicated. Take the case of Kristal Auto Mall, a big Cadillac dealership in Flatlands that is losing its lease and must relocate. The Bloomberg ad-

ministration’s Economic Develop- © 2007 Robert Half Finance & Accounting. An Equal Opportunity Employer. 0807-2005 ment Corp.found Kristal a site three

October 29, 2007 | Crain’s New York Business | 29 nb44p30_32cls.qxp 10/25/07 4:56 PM Page 30

BUSINESS MANAGEMENT TELECOMMUNICATIONS PUBLIC & LEGAL NOTICES Business Management Services Cash Management Services ● Bill Payment Notice of Formation of Bridge Revitalization, Notice of Formation of Integrated Technology Notice of Qualification of JWS Partners I, Tax & Financial Services ● Financing Assistance L.P. Cert. filed with NY Dept. of State on Systems NYC LLC. Authority filed with New L.P. Authority filed with Secy. of State of NY (212) 631-9500 ● www.mayercpa.com EMERGENCY 9/25/2007. Office location: NY County. Secy. York Dept. of State 1/10/06. Office location: (SSNY) on 09/11/07. Office location: New of State designated as agent of LP upon New York County. LLC formed in Delaware York County. LP formed in Delaware (DE) COMMUNICATIONS whom process against it may be served and (DE) on 12/21/05. Sec. of State designated on 09/07/07. SSNY designated as agent of shall mail process to the principal business as agent of LLC upon whom process against LP upon whom process against it may be Cash Management & CFO Services SYSTEMS address of the LP: 248 W. 108th St., NY, NY it may be served. Sec. of State shall mail served. SSNY shall mail process to: c/o SPECIALISTS 10025, Attn: Bridge 202 Revitalization, Inc., process to: 509 Madison Ave. Suite 1200, NY, Northeast Securities, 100 Wall St., NY, NY BUSINESS SERVICES • registered agent upon whom process may be NY 10022. DE address of LLC: 3500 South 10005, Attn: Jon W. Salmanson. Address FREE PICKUP & DELIVERY served. Name/address of genl. ptr. available DuPont Highway, Dover, DE 19901. Cert. of required to be maintained in home jurisdiction: • 48 HOUR from Secy. of State. Term: until 12/31/2058. Formation filed with DE Sec. of State, P.O. 160 Greentree Dr., Ste., 101, Dover, DE TURNAROUND Purpose: any lawful activity. Box 898, Dover, DE 19903. Purpose: Any 19904. Name/address of genl. ptr. available ON REPAIRS lawful activity. from SSNY. Cert. of LP filed with DE Secy. of State, John G. Townsend Bldg., 401 Federal • FREE ENGRAVING Notice of Qualification of WMT Investors LLC. St., Ste. 4, Dover, DE 19901. Purpose: any • Authority filed with Secy. of State of N.Y. Notice of Qualification of HFS REALTY NEW lawful activities. SHORT & LONG (SSNY) on 9/21/07. Office location: NY YORK 6, LLC. Authority filed with Secy. of TERM RENTALS County. LLC formed in Delaware (DE) on State of N.Y. (SSNY) on 9/21/07. Office Name of LLC: Bismarck Furnishings & 9/12/07. SSNY designated as agent of LLC location: NY County. LLC formed in Delaware Decorative Objects, LLC. Arts. of Org. filed upon whom process against it may be served. (DE) on 9/12/07. SSNY designated as agent NY Dept. of State 9/27/07. County off. loc.: SSNY shall mail process to principal business The largest Motorola Dealer in NY State of LLC upon whom process against it may be New York Cty. Principal bus. loc.: 270 location: One Penn Plaza, Ste. 2805, NY, NY 307 Fifth Avenue, NY 10016 served. SSNY shall mail process to: c/o CT Lafayette Street, NY, NY 10012. Sec. of State 10119. DE address of LLC: 2711 Centerville SECURITY 212-532-7400 Corporation System, 111 8th Ave., NY, NY designated as agent of LLC upon whom Road, Ste. 400, Wilmington, DE 19808. www.metrocomradio.com 10011, registered agent upon whom process process against it may be served. Sec. of Arts. of Org. filed with DE Secy. of State, may be served. DE address of LLC: 1209 State shall mail a copy of process to 270 P.O. Box 898, Dover, DE 19903. Purpose: Jay Richards Security, Inc. Orange St., Wilmington, DE 19801. Arts. of Lafayette Street, Ste. 1302, NY, NY 10012. any lawful activity. Voted #1 Hands on Security Org. filed with DE Secy. of State, 401 Federal Purpose: any lawful activity. Operation in NYC! Advertise on St., Ste. 4, Dover, DE 19901. Purpose: all lawful purposes. Security Guards • Bldg Security www.crainsnewyork.com Notice of Formation of Triad Boys II, LLC. Arts. NOTICE OF FORMATION OF LIMITED LIABILITY of Org. filed with Secy. of State of N.Y. (SSNY) COMPANY. NAME: 26 EAST SECOND STREET, Bonded & Insured • NYS Lic. Call John Gallagher on 9/17/07. Office location: NY County. SSNY LLC. Articles of Organization were filed with Offices in NYC, Brooklyn & L.I. Notice of Qualification of Dollar Land @ 212-210-0189 designated as agent of LLC upon whom Associates LLC. Authority filed with NY Dept. the Secretary of State of New York (SSNY) Call 718-858-1180 on 09/21/07. Office location: New York County. process against it may be served. SSNY shall of State on 5/18/07. Office location: NY County. SSNY has been designated as agent of the mail process to principal business location: LLC formed in Delaware (DE) on 4/30/07. NY LLC upon whom process against it may be c/o United American Land, LLC, 430 West Secy. of State designated as agent of LLC RELOCATION SERVICES served. SSNY shall mail a copy of process Broadway, NY, NY 10012. Purpose: any upon whom process against it may be served lawful activity. to the LLC, c/o Nancy Chan, 252 Front Street, and shall mail process to: c/o CT Corporation New York, New York 10038. Purpose: For System, 111 8th Ave., NY, NY 10011, any lawful purpose. Notice of Qualification of GII Fund L.P., App. registered agent upon whom process may be for Auth. filed Sec'y of State (SSNY) 6/13/07. served. DE address of LLC: 1209 Orange St., Wilmington, DE 19801. Arts. of Org. filed with NOTICE OF FORMATION of Petrie Point Office location: NY County. LP org. in DE Designs LLC. Arts. of Org. filed with Secy. DE Secy. of State, Townsend Bldg., Dover, DE 6/11/07. SSNY designated as agent of LP of State of NY (SSNY) on 9/28/07. Office 19901. Purpose: any lawful activity. upon whom process against it may be served. location: New York County. SSNY designated SSNY shall mail copy of process to Attn: J. as agent of LLC upon whom process against Tomilson Hill, 345 Park Ave., NY, NY 10154. it may be served. SSNY shall mail process DE office addr.: c/o CSC, 2711 Centerville Rd., 212 EAST 85TH STREET, LLC. Articles of Org. filed NY Sec. of State (SSNY) 09/21/07. Office to: 140 Sullivan Street, #6, NY, NY 10012. Wilmington, DE 19808. Cert. of LP on file: Principal business location: 140 Sullivan SSDE, Townsend Bldg., Dover, DE 19901. in New York Co. SSNY desig. agent of LLC upon whom process may be served. SSNY Street, #6, NY, NY 10012. Purpose: Any Name/addr. of each gen. ptr. avail. at SSNY. lawful act. Purpose: any lawful activities. shall mail copy of process to JAS Management Co., Inc., 216 E. 85th St., Ste. 1A, NY, NY 10028. Purpose: Any lawful purpose. Notice of Conversion of Rainier Northwest NOTICE OF FORMATION OF BMDB Enterprise JFK Associates, a partnership, to Rainier REAL ESTATE EXECUTIVE LLC. Article of Organization filed with the Northwest – JFK L.L.C. Certificate filed with Secretary of State of NY (SSNY) on 5/8/07 NOTICE OF FORMATION OF Cocktail Caterers Secy. of State of NY (SSNY) on 9/21/07. Office location NEW YORK County. SSNY LLC. Arts. of Org. filed with the Secy. of State Office location: NY County. SSNY designated RECRUITER has been designated as agent upon whom of NY (SSNY) on 6/8/2007 Office location as agent of LLC upon whom process against OFFICE SPACE process against it may be served. The Post NEW YORK County. SSNY has been designated it may be served. SSNY shall mail process to: Office address to which the SSNY shall mail as agent upon whom process against it may The LLC, c/o Rainier Northwest Development POSITION WANTED a copy of any process against the LLC served be served. SSNY shall mail process to: 875 Corporation,1411 Fourth Ave., Ste. 901, Seattle, upon him/her is C/O the LLC 585 Leonard St Avenue of the Americas, Suite 501. New York, WA 98101. Purpose: any lawful activities. #3. Brooklyn, NY 11222. Date of Dissolution: NY 10001. Principal business Location: 416 212-947-5500 Purpose of LLC: to engage in any lawful act West 23rd Street, 4B , NY, NY 10011. Purpose: 44 WALKER LLC, a domestic Limited Liability FOR ALL OFFICE, RETAIL & LOFT SPACES DYNAMIC PROFESSIONAL or activity. Street address of Principal any lawful act. 891443 Company (LLC) filed with the Sec of State of New York City, Brooklyn, Queens Business location is: 585 Leonard St #3. NY (SSNY) on 8/17/07. NY Office location: Resourceful, persuasive, competitive & 500–50,000 SF Brooklyn, NY 11222 Notice of Formation of HUSA Go Grid Holding, NEW YORK County. SSNY is designated as UNDER MARKET SUBLETS – NO FEE! entrepreneurial. Highly experienced as agent upon whom process against the LLC Search our listings @ www.midcomre.com a Client Relations Manager/Sales LLC. Arts. of Org. filed with NY Dept. of State on 10/3/07. Office location: NY County. Secy. may be served. SSNY shall mail a copy of Call Paul 212 947-5500 x 100 Manager & General Manager. Notice of Qualification of Richland Towers any process against the LLC served upon 917-379-5290 NYC Distributed, LLC. Authority filed with of State designated as agent of LLC upon whom process against it may be served and him/her to THE LLC, ATTN: MICHAEL MARVISI, www.EmploymentChange.com NY Dept. of State on 10/2/07. Office location: 332 CANAL ST., 2ND FLR., NY, NY 10013. Professional Office Space NY County. Principal business address: 400 shall mail process to the principal business address of the LLC: c/o Gotham Organization, General purposes. NO FEE • AVAILABLE 11/01/07 N. Ashley Dr., Ste. 3010, Tampa, FL 33602. POSITION AVAILABLE LLC formed in Delaware (DE) on 3/10/05. Inc., 1010 Ave. of the Americas, 4th Fl., NY, Ideal for a start-up or small business NY 10018, Attn: David Pickett. Purpose: any Notice of Formation of EIC HOSPITALITY NY Secy. of State designated as agent of CONCEPTS LLC. Arts. of Org. filed with Secy. quiet, boutique bldg on 41st between LLC upon whom process against it may be lawful activity. 5th & Madison. Beautiful ground floor of State of N.Y. (SSNY) on 9/17/07. Office Market Research Analyst for served and shall mail process to: CorpDirect location: NY County. SSNY designated as lobby with security and 24 / 7 access. Manhattan-based real estate firm. Agents, Inc. (CDAI), 225 W. 34th St., Ste. Notice of Qualification of Centurion Global agent of LLC upon whom process against it Newly renovated floor & office, brand Analyze trends, comparable sales 910, NY, NY 10122. DE address of LLC: Partners, L.P. Authority filed with Secy. of may be served. SSNY shall mail process to: new furniture Clean, open floor plan (no & appraisals. Research potential CDAI, 615 S. DuPont Hwy., Dover, DE 19901. State of N.Y. (SSNY) on 8/30/07. Office 145 E. 84th St., #2C, NY, NY 10028. Purpose: columns) Externally facing with large buyers/owners. Manage database. Arts. of Org. filed with DE Secy. of State, location: NY County. LP formed in Delaware any lawful activity. windows, Central A/C, tenant-controlled. 401 Federal St., Ste. 4, Dover, DE 19901. (DE) on 8/22/07. SSNY designated as agent F/T, M-F, BA in bus. admin/finance, Purpose: any lawful activity. Call Cristin at 212 679 2509 RE license plus 2 years exp req'd. of LP upon whom process against it may be Notice of Qualification of Blackstone TT Fund served. SSNY shall mail process to principal Fax resume to: L.P., App. for Auth. filed Sec'y of State (SSNY) Notice of Qualification of BON ALLER NEW business location: 101 Park Ave., NY, NY 5/24/07. Office location: NY County. LP org. in Realty Marketing Associates, Ltd 10178. DE address of LP: c/o Corporation DE 5/21/07. SSNY designated as agent of LP PROFESSIONAL OFFICE BUILDING (646) 478-9640 YORK, LLC. Authority filed with Secy. of State of N.Y. (SSNY) on 8/20/07. Office location: NY Service Company, 2711 Centerville Road, Ste. upon whom process against it may be served. In Union City NJ, nr Lincoln Tunnel Attention Shimon Shkury County. LLC formed in Delaware (DE) on 400, Wilmington, DE 19808. Name/address SSNY shall mail copy of process to Attn: J. 7/30/07. SSNY designated as agent of LLC of each genl. ptr. available from SSNY. Tomilson Hill, 345 Park Ave., NY, NY 10154. &major hwys on JFK Blvd, Cert. of LP filed with DE Secy. of State, 401 move-in cond, 2 levels, 3 units, - upon whom process against it may be served. DE office addr.: c/o CSC, 2711 Centerville Rd., SSNY shall mail process to: c/o Corporation Federal St., Dover, DE 19901. Purpose: any Wilmington, DE 19808. Cert. of LP on file: Sep. ent, & Meter Readings, Total Service Company, 80 State St., Albany, NY lawful activity. SSDE, Townsend Bldg., Dover, DE 19901. SF: 7,000. Call 1-848-248-1462 PUBLIC & 12207. DE address of LLC: 2711 Centerville Name/addr. of each gen. ptr. avail. at SSNY. Road, Ste. 400, Wilmington, DE. Arts. of Notice of Qualification of Perella Weinberg Purpose: any lawful activities. Org. filed with DE Secy. of State, Federal & Partners Capital Management LP. Authority Notice of Dissolution LEGAL NOTICES Duke of York St., Dover, DE 19901. Purpose: filed with NY Dept. of State on 6/19/07. Office any lawful activity. location: NY County. LP formed in Delaware Midtown Medical, P.C. (a New York Professional Corporation) hereby publishes notice of its dissolution (DE) on 2/28/07. NY Secy. of State designated effective July 5, 2007. Any persons who have as agent of LP upon whom process against it 315 5th Ave Corner 32nd st. 4,950 s.f. Notice of Formation of Trident Communications claims against the Corporation should provide Notice of Formation of The 157 East 72nd may be served and shall mail process to: 767 written evidence of the claim with supporting available immed. Built move in cond. Street L.L.C. Arts. of Org. filed with NY LLC. Arts. of Org. filed with Secy. State of NY Ronnie Zimmerman 5th Ave., NY, NY 10153, principal business documentation to: Dept. of State on 9/20/07. Office location: (SSNY) on 8/22/07. Office location: New York address of the LP. DE address of LP: c/o Midtown Medical, P.C. 212-372-2022 County. SSNY designated as agent of LLC [email protected] NY County. Secy. of State designated as National Corporate Research, Ltd., 615 S. 7399 N. Shadeland Avenue #125 agent of LLC upon whom process against it upon whom process against it may be DuPont Hwy., Dover, DE 19901. Name/address Indianapolis, IN 46250 may be served and shall mail process to: 201 served. SSNY shall mail process to: Trident of genl. ptr. available from NY Secy. of State. Any claim against the corporation will be barred www.crainsnewyork.com E. 79th St., Apt. 20E, NY, NY 10075, principal Communications LLC, 20 West 22 St., 12th Cert. of LP filed with DE Secy. of State, 401 unless a proceeding to enforce the claim is business address of the LLC. Purpose: any Floor, NY, NY 10010. Purpose: Any Lawful Federal St., Dover, DE 19901. Purpose: any commenced within six (6) months after the lawful activity. act. 905020 w.o. lawful activity. publication of this notice.

30 | Crain’s New York Business | October 29, 2007 nb44p30_32cls.qxp 10/25/07 4:56 PM Page 31

PUBLIC & LEGAL NOTICES

Notice of Qualification of Traxis Notice of Qualification of Betsey Johnson Notice of Formation of Axelrod Energy Notice of Qualification of GS Capital Notice of Qualification of Goldman Sachs Management Holdings LP. Authority filed LLC. Authority filed with Secy. of State of Projects, LLC, Art. of Org. filed Sec'y of State Partners 2000 Employee Fund, L.P. Private Equity Partners 2004 Employee with Secy. of State of N.Y. (SSNY) on NY (SSNY) on 8/1/07. Office location: NY (SSNY) 6/22/07. Office location: NY County. Authority filed with Secy. of State of N.Y. Fund, L.P. Authority filed with Secy. of State 10/10/07. Office location: NY County. County. LLC formed in Delaware (DE) on SSNY designated as agent of LLC upon whom (SSNY) on 7/27/07. Office location: NY of N.Y. (SSNY) on 7/13/07. Office location: process against it may be served. SSNY shall Principal business location: 600 Fifth 6/29/07. SSNY designated as agent of LLC County. LP formed in Delaware (DE) on NY County. LP formed in Delaware (DE) on mail copy of process to c/o Lawrence Axelrod, Ave., 20th Fl., NY, NY 10020. LP formed in upon whom process against it may be 10/13/04. SSNY designated as agent of LP 214 West 96th St., NY, NY 10025. Purpose: 4/5/00. SSNY designated as agent of LP Delaware (DE) on 8/28/07. SSNY desig- served. SSNY shall mail process to: c/o upon whom process against it may be any lawful activities. upon whom process against it may be nated as agent of LP upon whom process National Registered Agents, Inc., 875 Ave served. SSNY shall mail process to: 85 served. SSNY shall mail process to: 85 against it may be served. SSNY shall mail of the Americas, Ste 501, NY, NY 10001. Broad St., NY, NY 10004. DE address of LP: Notice of Qualification of PowerQX LLC. Broad St., NY, NY 10004. DE address of process to: c/o Corporation Service Address to be maintained in DE: 2711 2711 Centerville Road, Ste. 400, Authority filed with NY Dept. of State on LP: Corporation Trust Center, 1209 Orange Company (CSC), 80 State St., Albany, NY Centerville Rd., Ste 400, Wilmington, DE Wilmington, DE 19808. Name/address of 19808. Arts. of Org. filed with DE Secy. Of 11/8/06. Office location: NY County. Principal St., Wilmington, DE 19801. Name/address 12207, registered agent upon whom business address: 375 Park Ave., NY, NY each genl. ptr. available from SSNY. Cert. of State, 401 Federal St., Ste 4., Dover, DE of each genl. ptr. available from SSNY. process may be served. DE address of LP: 10152. LLC formed in Delaware (DE) on LP filed with DE Secy. of State, P.O. Box 19901 Purpose: any lawful activities. Cert. of LP filed with DE Sec. of State, P.O. CSC, 2711 Centerville Road, Wilmington, 10/26/04. NY Secy. of State designated as 898, Dover, DE 19903. Purpose: any lawful Box 898, Dover, DE 19903. Purpose: any DE 19808. Name/address of each genl. agent of LLC upon whom process against it activity. ptr. available from SSNY. Cert. of LP filed Notice of Qualification of BRS Coinvestor may be served and shall mail process to: c/o lawful activity. CT Corporation System, 111 8th Ave., NY, NY with DE Secy. of State, Townsend Bldg., GP III, L.L.C. Authority filed with Secy. of 10011, registered agent upon whom process Notice of Qualification of HY 707 LLC. Dover, DE 19901. Purpose: any lawful Notice of formation of limited liability company State of NY (SSNY) on 9/6/07. Office loca- may be served. DE address of LLC: c/o The Authority filed with Secy. of State of N.Y. activity. (LLC). Name: IPNY ARCHITECTURAL tion: NY County. LLC formed in Delaware Corporation Trust Co., 1209 Orange St., (SSNY) on 9/11/07. Office location: NY SALES, LLC Articles of Organization filed with (DE) on 8/29/07. SSNY designated as Wilmington, DE 19801. Cert. of Form. filed Notice of Qualification of Hawkes AP, LLC. County. LLC formed in Delaware (DE) on the Department of State of New York on agent of LLC upon whom process against with DE Secy. of State, Townsend Bldg., Authority filed with NY Dept. of State on Dover, DE 19901. Purpose: any lawful activity. 6/20/07. SSNY designated as agent of September 28, 2007. Office location: New it may be served. SSNY shall mail process 10/9/07. Office location: NY County. LLC LLC upon whom process against it may formed in California (CA) on 9/12/01. NY York County. The principal business location to: The LLC, 126 East 56th St., NY, NY Secy. of State designated as agent of LLC is 110 W. End Ave., Ste. 21G, New York, NY Notice of Formation of BNS Varick St. LLC. be served. SSNY shall mail process to: 10022. Address to be maintained in DE: upon whom process against it may be served 10023. The Secretary of State of New York Arts. of Org. filed with Secy. of State of NY c/o KMM Telecommunications, 9 Law 2711 Centerville Rd., Ste 400, Wilmington, and shall mail process to: 11726 San Vicente (SSNY) on 9/27/07. Office location: NY Co. Drive, Ste. 13, Fairfield, NJ 07004. DE (SSNY) is designated as agent of LLC upon Blvd., Ste. 300, Los Angeles, CA 90049, Attn: DE 19808. Arts. of Org. filed with DE Secy. SSNY designated as agent of LLC upon whom whom process against it may be served. address of LLC: Trolley Square, Ste. 20C, Llewellyn Werner. CA and principal business Of State, 401 Federal St., Ste 4., Dover, DE process against it may be served. SSNY shall SSNY shall mail copy of process to Paul L. Wilmington, DE 19806. Arts. of Org. filed address: 11150 Santa Monica Blvd., Ste. 400, mail process to: c/o Paracorp Inc., 2804 Shapiro, Esq., 39 Hudson St., Hackensack, NJ 19901 . Purpose: any lawful activities. with DE Secy. of State, 401 Federal St., Los Angeles, CA 90025, Attn:Marc S. Primiani. Gateway Oaks Dr., Ste #200, Sacramento, CA 07601. Management of the limited liability Ste. 4, Dover, DE 19901. Purpose: own & Arts. of Org. filed with CA Secy. of State, 1500 95833-3509. Purpose: any lawful activities. company shall be by one or more mambers. NOTICE OF FORMATION OF LIMITED LIABILITY develop real property. 11th St., Sacramento, CA 95814. Purpose: COMPANY. NAME: 203 E. 45th MANAGEMENT any lawful activity. Purpose: To engage in any lawful act or activity. LLC. Articles of Organization were filed with Notice of Qualification of Haven Avenue Notice of Qualification of Clutch Group LLC. the Secretary of State of New York (SSNY) on Owner LLC. Authority filed with Secy. of State REQUEST FOR PROPOSAL 08/31/07. The latest date of dissolution is Authority filed with Secy. of State of N.Y. of N.Y. (SSNY) on 6/18/07. Office location: (SSNY) on 9/5/07. Fictitious name in NY State: 12/31/2099. Office location: New York County. NY County. Principal business location: c/o SSNY has been designated as agent of the Clutch Group Acquisition Company LLC. THE PORT AUTHORITY OF NEW YORK AND NEW JERSEY Vantage Properties, LLC, 750 Lexington Ave., Office location: NY County. LLC formed in LLC upon whom process against it may be NY, NY 10022. LLC formed in Delaware (DE) REQUEST FOR PROPOSALS FOR RETAIL REAL ESTATE served. SSNY shall mail a copy of process to Delaware (DE) on 7/31/07. SSNY designated on 3/19/07. SSNY designated as agent of LLC as agent of LLC upon whom process against CONSULTANT SERVICES AT THE WORLD TRADE CENTER the LLC, 121 West 45th Street, New York, New upon whom process against it may be served. York 10036. Purpose: For any lawful purpose. it may be served. SSNY shall mail process SSNY shall mail process to: c/o Corporation to principal business location: c/o The LLC, The Port Authority of New York and New Jersey hereby invites proposals to provide real Service Company, 80 State St., Albany, NY 370 Lexington Ave., Ste. 1410, NY, NY 10017. estate consultant services for the retail portion of The World Trade Center site redevelopment. Notice of Formation of ALBERT 2 LLC. Arts. 12207. DE address of LLC: The Corporation DE address of LLC: c/o United Corporate Trust Company, 1209 Orange St., Wilmington, All firms are encouraged to visit the Port Authority’s Web site at www.panynj.gov and of Org. filed with NY Dept. of State on 9/5/07. Services, Inc., 874 Walker Road, Ste. C, are directed to the subject RFP# 14352 for prerequisites, qualifying information, and Office location: NY County. Secy. of State DE 19808. Arts. of Org. filed with DE Secy. of Dover, DE 19904. Arts. of Org. filed with State, 401 Federal St., Dover, DE 19901. requirements for such services indicated. The RFP can be downloaded directly or to designated as agent of LLC upon whom DE Secy. of State, Townsend Bldg., Dover, request a copy, e-mail [email protected]. Please reference the RFP number in Purpose: any lawful activity. DE 19901. Purpose: any lawful activity. process against it may be served and shall the subject line on all requests and include the following information in your e-mail: mail process to the principal business Firm/Proposer name, e-mail address, contact person, mailing address and telephone address of the LLC: c/o United American Notice of Dissolution number. Joint Ventures/Teams are acceptable. Land, LLC, 430 W. Broadway, 3rd Fl., NY, NY Notice of Qualification of Dynamis ETF, LLC. Midtown Medical Plus, P.C. (a New York Professional Authority filed with Secy. of State of N.Y. 10012. Purpose: any lawful activity. Corporation) hereby publishes notice of its dissolution Proposals are due by 2:00 PM on December 19, 2007 or as otherwise indicated in the (SSNY) on 8/22/07. Office location: NY effective July 2, 2007. Any persons who have County. LLC formed in Delaware (DE) on solicitation package sent to you. Proposals must have the RFP Number and full legal claims against the Corporation should provide name of the proposing entity clearly indicated on the outside package. Notice of Formation of JASON 2 LLC. Arts. of 7/25/07. SSNY designated as agent of LLC written evidence of the claim with supporting Org. filed with NY Dept. of State on 9/6/07. upon whom process against it may be served. documentation to: Send Proposal(s) to: The Port Authority of NY & NJ, Attn: Bid/RFP Custodian, Procurement Office location: NY County. Secy. of State SSNY shall mail process to principal business Midtown Medical Plus, P.C. Department, One Madison Avenue, 7th Floor, New York, NY 10010. designated as agent of LLC upon whom location: 75 Rockefeller Plaza, 18th Fl., NY, NY 7399 N. Shadeland Avenue #125 Indianapolis, IN 46250 process against it may be served and shall 10019. DE address of LLC: c/o Corporation mail process to the principal business address Service Co., 2711 Centerville Rd., Ste. 400, Any claim against the corporation will be barred CHAUFFEURED TRANSPORTATION unless a proceeding to enforce the claim is of the LLC: c/o United American Land, LLC, Wilmington, DE 19808. Cert. of Form. filed with DE Secy. of State, Townsend Bldg., Dover, commenced within six (6) months after the 430 W. Broadway, 3rd Fl., NY, NY 10012. publication of this notice. Purpose: any lawful activity. DE 19901. Purpose: any lawful activity. DESTINATION? Name of LLC: LG & COMPANY INDEED, Anytime. Anywhere. Notice of Formation of 135 LLC. Arts. of Org. Notice of Formation of Datafloat, LLC, Art. of LLC. Articles. of Org. filed NY Dept. of State filed with Secy. of State of N.Y. (SSNY) on Org. filed Sec'y of State (SSNY) 9/17/04. of NY on 9/21/07. Office location in NY: 10/20/06. Office location: NY County. SSNY Office location: NY County. SSNY designated New York County. Sec. of State designated Business Meetings and Events, REQUEST FOR PROPOSALS as agent of LLC upon whom process against designated as agent of LLC upon whom as agent of LLC upon whom process Road Shows, and 18-hour days; process against it may be served. SSNY shall it may be served. SSNY shall mail copy of mail process to principal business location: process to Ben Clarke, 26 Broadway, Ste. 745, against it may be served. Sec. of State shall we know where you’re coming from c/o Kramer Levin Naftalis & Frankel LLP, 1177 NY, NY 10006, the Reg. Agt. upon whom proc. mail a copy of process to c/o Justis and we know how to get you there. Avenue of the Americas, NY, NY 10036, Attn: may be served. Purpose: any lawful activities. Properties, 18 E. 12th St., Ste. 1C, NY, NY Anytime. Anywhere. Jay A. Neveloff. Purpose: any lawful activity. 10003. Purpose: any lawful activity.

Notice of Qualification of GAIA USA, LLC. Commonwealth Worldwide provides Notice of Conversion of 148 West 10th Street Authority filed with Secy. of State of N.Y. Notice of Formation of 180 BROADWAY Company, a partnership, to 148 West 10th (SSNY) on 9/27/07. Office location: NY LLC. Arts. of Org. filed with Secy. of State of premium chauffeured transportation Street Associates, LLC. Certificate filed with County. LLC formed in New Jersey (NJ) on N.Y. (SSNY) on 6/15/07. Office location: NY services for discriminating corporate Secy. of State of NY (SSNY) on 9/13/07. 5/31/07. SSNY designated as agent of LLC County. SSNY designated as agent of LLC clients including senior executives, upon whom process against it may be served. Office location: NY County. SSNY designated upon whom process against it may be as agent of LLC upon whom process against SSNY shall mail process to the principal office and private aviation passengers. it may be served. SSNY shall mail process to address/principal business location of LLC: served. SSNY shall mail process to: c/o Eastern Property Associates, LLC, 194 W. principal business location: c/o The Brodsky Mr. Martin Manuel, 400 Madison Ave., NY, NY Celebrating Our 25th Year Organization, LLC, 400 W. 59th St., NY, NY 10017, registered agent upon whom process 10th St., L-1, NY, NY 10014, Attn: Joseph 10019. Purpose: any lawful activity. may be served. Cert. of Form. filed with NJ Edery. Purpose: any lawful activity. 1982-2007 Dept. of Revenue, 225 West State Street, Trenton, NJ 08625. Purpose: any lawful activity. Notice of Formation of Stelle By Gilber Notice of Qualification of Gemini 305 West Gilmore, LLC. Arts. of Org. filed with Secy. 39th Street 12, LLC. Authority filed with of State of NY (SSNY) on 9/11/07. Office Notice of Formation of Limited Liability Secy. of State of NY (SSNY) on 9/25/07. location: NY Co. SSNY designated as agent Company (LLC) GENERAL SOURCE Office location: NY County. LLC formed in of LLC upon whom process against it may Delaware (DE) on 9/20/07. SSNY be served. SSNY shall mail process to: The NETWORKS, LLC. Articles of Organization LLC, 307 West 38th St., Ste 804, Ny, NY filed with the Secretary of State of New designated as agent of LLC upon whom 10018. Purpose: any lawful activities. York (SSNY) on 08/31/2007. N.Y. Office process against it may be served. SSNY location: New York County. SSNY has shall mail process to: c/o Corporation been designated as an agent upon whom Service Company, 80 State St., Albany, NY Notice of Formation of Rising Development – 12207-2543, also registered agent. 38 Main, LLC. Arts. of Org. filed with Secy. process against it may be served. SSNY of State of N.Y. (SSNY) on 9/6/07. Office shall mail a copy of any process to: C/O Address to be maintained in DE: 2711 Centerville Rd., Ste 400, Wilmington, DE location: NY County. SSNY designated as GENERAL SOURCE NETWORKS, LLC The World’s #1 Chauffeured Transportation Company agent of LLC upon whom process against it 331 W. 70TH ST. #1, New York, NY, 19808. Arts. of Org. filed with DE Secy. Of may be served. SSNY shall mail process to: 10023. Purpose of LLC: TO ENGAGE IN State, 401 Federal St., Ste 4., Dover, DE The LLC, 3261 Broadway, NY, NY 10027. E-BUSINESS ACTIVITIES. 19901 . Purpose: any lawful activities. 866.770.1677 or 718.706.5500 • commonwealthlimo.com Purpose: any lawful activity.

October 29, 2007 | Crain’s New York Business | 31 nb44p30_32cls.qxp 10/25/07 5:14 PM Page 32

PUBLIC & LEGAL NOTICES

Notice of Qualification of NY Credit Operating Notice of Conversion of 231-235 West 13th Notice is hereby given that a license Notice of Formation of PC Newco LLC. NOTICE OF FORMATION of Pinnacle 75 Company LLC. Authority filed with Secy. of Street Associates, a partnership, to 231-235 (#TBA) for Liquor has been applied for by Arts. of Org. filed with Secy. of State of N.Y. Realty LLC. Articles of Organization filed State of N.Y. (SSNY) on 8/8/07. Office location: West 13th Street Associates, LLC. Certificate Chipotle Mexican Grill of Colorado, LLC, at with Secy. of State of NY (SSNY) on (SSNY) on 3/9/05. Office location: NY NY County. Principal business location: 230 filed with Secy. of State of NY (SSNY) on retail, in a Restaurant, under the ABC Law, 9/24/07. Office location: New York County. Park Ave., Ste. 1160, NY, NY 10169. LLC 9/25/07. Office location: NY County. SSNY at 269 Amsterdam Ave. NY, NY 10023 for County. SSNY designated as agent of LLC SSNY designated as agent of LLC upon formed in Delaware (DE) on 4/5/07. SSNY designated as agent of LLC upon whom on-premises consumption. upon whom process against it may be whom process against it may be served. designated as agent of LLC upon whom process against it may be served. SSNY served. SSNY shall mail process to principal SSNY shall mail process to: 386 Park process against it may be served. SSNY shall shall mail process to principal business business location: 405 Lexington Ave., NY, Avenue South, Suite 1914, NY, NY 10016. Notice of Formation of NY GO 72nd LLC. Arts. Principal business location: 386 Park mail process to: c/o Corporation Service location: c/o The Brodsky Organization, LLC, of Org. filed with Secy. of State of N.Y. (SSNY) NY 10174. Purpose: any lawful activity. Company (CSC), 80 State St., Albany, NY 400 W. 59th St., NY, NY 10019. Purpose: Avenue South, Suite 1914, NY, NY 10016. on 6/1/07. Office location: NY County. SSNY Purpose: Any lawful act. 12207. DE address of LLC: c/o CSC, 2711 any lawful activity. designated as agent of LLC upon whom Centerville Road, Ste. 400, Wilmington, DE process against it may be served. SSNY shall Notice of Qualification of Simon, Kucher & 19808. Arts. of Org. filed with DE Secy. of mail process to: c/o Gotham Organization, Partners Strategy & Marketing Consultants, Notice of Qualification of 30-49 Crescent State, 401 Federal St., Ste. 4, Dover, DE 19901. Notice of Formation of Paramount Fee Mezz, 1010 Ave. of the Americas, 4th Fl., NY, NY LLC. Authority filed with Secy. of State of Investor, LLC. Authority filed with NY Dept. Purpose: any lawful activity. LLC, Art. of Org. filed Sec'y of State (SSNY) 10018. Purpose: any lawful activity. of State on 10/11/07. Office location: NY 8/21/07. Office location: NY County. SSNY N.Y. (SSNY) on 10/5/2007. Office location: County. LLC formed in Delaware (DE) on designated as agent of LLC upon whom NY County. LLC formed in Massachusetts Notice of Formation of a Limited Liability process against it may be served. SSNY shall Notice of Formation of NewQuest Manager (MA) on 5/22/1996. SSNY designated as 8/3/07. NY Secy. of State designated as Partnership known as Brosius Trask LLP; mail copy of process to Nat. Reg. Agents, 875 LLC. Arts. of Org. filed with Secy. of State agent of LLC upon whom process against agent of LLC upon whom process against Articles of Incorporation filed with the Ave of the Americas, Ste. 501, NY, NY 10001. of N.Y. (SSNY) on 8/31/07. Office location: it may be served and shall mail process to: Secretary of State of New York on 6/13/07; it may be served. SSNY shall mail process Purpose: any lawful activities. NY County. SSNY designated as agent of The Dermot Company, Inc., 320 W. 57th Office location: New York County; SSNY has to: c/o Corporation Service Company, 80 LLC upon whom process against it may be St., 5th Fl., NY, NY 10019, principal been designated as agent of the LLP upon served. SSNY shall mail process to: c/o The State St., Albany, NY 12207. MA whom process against it may be served. BOARDWALK VENTURE CAPITAL, LLC, a LLC, 275 Madison Ave., Ste. 702, NY, NY address/principal business location of LLC: business address of the LLC. DE address SSNY shall may a copy of process to Brosius domestic Limited Liability Company (LLC) 10016. Purpose: any lawful activity. One Canal Park, Cambridge, MA 02141. of LLC: c/o National Corporate Research, Trask LLP, 420 Lexington Avenue, Suite 2800, filed with the Sec of State of NY (SSNY) on Arts. of Org. filed with MA Secy. of State, Ltd., 615 S. DuPont Hwy., Dover, DE New York 11021-2808; Purpose: Law Firm. 8/28/07 NY Office location: NEW YORK Notice of Formation Vvensta LLC art. of org. One Ashburton Place, 17th Fl., Boston, MA 19901. Arts. of Org. filed with DE Secy. of County. SSNY is designated as agent upon State, 401 Federal St., Ste. 4, Dover, DE whom process against the LLC may be served. filed Secy. of State NY (SSNY) 6/14/07. Off. 02108. Purpose: strategy and marketing Advertise on SSNY shall mail a copy of any process against loc. in NY Co. SSNY designated as agent of consulting. 19901. Purpose: any lawful activity. the LLC served upon him/her to THE LLC, 350 LLC upon whom process may be served. www.crainsnewyork.com WEST 38TH ST., 6TH FLR., NY, NY 10018. SSNY shall mail copy of process to: Hang General purpose. Guo, 51-29 72 St, Woodside, NY 11377. www.crainsnewyork.com Purpose: Any lawful purpose.

32 | Crain’s New York Business | October 29, 2007 CNYB 10-29-07 A 33 10/25/2007 6:58 PM Page 1

THE WEEKS AHEAD

THIS WEEK’S EVENTS for lunch, $15 lecture only. (212) 686-5005 or [email protected]. reception. 6 p.m. to 8:30 p.m., Café Industry and Business Library holds OCTOBER 30 (212) 715-1247 or NOVEMBER 6 Metro, 14 E. 42nd St., lower level. Fee: lecture on transitioning an eBay hobby American Business Forum on Europe [email protected]. Association of Prospect Researchers for $20 in advance, $25 at door. into a business. 5:30 p.m. to 7 p.m., 188 holds lecture on business opportunities NOVEMBER 3 Advancement, greater New York (212) 465-8080. Madison Ave., room 018. Free. in climate change and carbon reduction. Baruch College and the AARP hold chapter, holds seminar on estimating gift NOVEMBER 7 (212) 592-7000. 6 p.m. to 8:15 p.m., McCann-Erickson conference on 50+ entrepreneurship. capacity and developing rating systems. Five O’Clock Club Executive Job Building, 622 Third Ave., 18th floor. 9:30 a.m. to 5 p.m., Vertical Campus, 55 6 p.m. to 7:30 p.m., Museum of Modern Search Group holds seminar on NOVEMBER 12-18 Fee: free for members, $35 nonmembers Lexington Ave., room 14-220. Fee: Art, 11 W. 53rd St. Fee: free for interviewing. 6:30 p.m. to 8:30 p.m., 11 NOVEMBER 14 (212) 972-3035 or [email protected]. $145 members, $195 nonmembers. members, $15 nonmembers. Penn Plaza, fifth floor. Fee: $50. Crain’s New York Business holds lunch OCTOBER 30 (888) 898-0050. (212) 229-5662, ext. 3559, or (914) 788-5482 or [email protected]. program with city’s most influential Association of Legal Administrators [email protected]. NOVEMBER 7 women. 12 p.m. to 2 p.m., Cipriani, 110 holds program on mailroom and front NOVEMBER 5-11 NOVEMBER 6 B’nai B’rith Real Estate Unit holds E. 42nd St. Fee: $150. (212) 210-0739 desk security. 8:30 a.m. to 10:30 a.m., NOVEMBER 6 Artemus Group Inc. holds business card lunch on the economy and the real estate or www.crainsnewyork.com/events. Akin Gump Strauss Hauer & Feld, 590 Center for Communication holds exchange. 7 p.m. to 9 p.m., Fashion 40, market. 12 p.m. to 2 p.m., Cornell Club, —adrianne pasquarelli Madison Ave., conference room 22N. seminar on public relations strategies for 202 W. 40th St., second floor. Fee: $20. 6 E. 44th St, Ivy Room. Fee: $55 in Fee: free for members, $50 the global era. 6:30 p.m. to 8 p.m., NYU (646) 415-8746 or advance, $65 at door. (212) 885-7239 or More meetings online at nonmembers. (212) 471-6225 or Kimmel Student Center, 60 Washington [email protected]. [email protected]. www.crainsnewyork.com [email protected]. Square South, Silver Board Room, 914. NOVEMBER 6 NOVEMBER 7 Click on “Events” OCTOBER 30 Free. Registration required. Gold Place Network holds networking New York Public Library’s Science, Business Network International, chapter 15 real estate power group, holds forum on renovations. 6 p.m. to 7:30 p.m., Commerce Bank, 258 Broadway. Free. (914) 262-2289. OCTOBER 30 Networking for Professionals holds networking lunch. 1 p.m. to 3 p.m., Angelo and Maxie’s, Park Avenue South and 19th Street. Fee: $44.90 members, $54.90 nonmembers. (212) 227-6556 or A Special Offer [email protected]. OCTOBER 30 Nationwide Equities Corp. holds networking reception. 6 p.m. to 8 p.m., Social Bar & Lounge, 795 Eighth Ave., for Small second floor. Free. (917) 975-5985 or [email protected]. OCTOBER 30 Biba4Network and New Online hold Businesses meeting on self-branding. 6 p.m. to 8 p.m., MetLife, 260 Madison Ave., 10th floor. Fee: free for members, $25 nonmembers. (917) 573-9808 or with Big [email protected]. OCTOBER 31 New York County Lawyers’ Association holds lecture on theater law. 6 p.m. to 8 Ambitions. p.m., 14 Vesey St. Free. (212) 267-6646. OCTOBER 31 Grow your business with BroadbandAccess. Business Network International, chapter 5, holds networking breakfast. 7 a.m. to Get high-speed wireless access to files, e-mail and the Web, 8:30 a.m., Sunberry’s, 106 E. 60th St., so you can stay productive in or out of the office. With 24-hour second floor. Fee: $17.50. (212) 414-0073 support and America’s Most Reliable Wireless Network behind or [email protected]. NOVEMBER 1 you, your small business can be bigger than you think. Crain’s New York Business holds arts and culture breakfast. 8 a.m. to 9:30 a.m., Grand Hyatt, East 42nd Street and Grand Central Terminal. Fee: $65. (212) 210-0739 or www.crainsnewyork.com/events. NOVEMBER 1 Flatiron/23rd Street Partnership and Union Square Partnership hold business breakfast. 8:30 a.m. to 10 a.m., Baruch Limited-time Offer. College Vertical Campus, 55 Lexington USB720 Modem Ave., room 14-220. Free. (212) 741-2323 or $ 99 14 each when you sign up for 5 or [email protected]. Access NOVEMBER 2 more lines of Broadband . $49.99 ($99.99 less $50 mail-in rebate) for a single line. 2-yr Carnegie Council, Booz Allen agreement req’d per line. While supplies last. Hamilton and RSA hold lunch program on responsible profit. 12 p.m. to 2 p.m., $ 170 E. 64th St. Fee: $50. Save 175 over single-line pricing (212) 838-4120 or [email protected]. NOVEMBER 2 Citigroup and Japan Society hold lunch program on Japan’s fiscal recovery. 12 p.m. to 2 p.m., 333 E. 47th St. Fee: $45 for Japan Society members for lunch, To learn more about our wireless solutions, consult with a small business representative. $10 lecture only; $65 for nonmembers verizonwireless.com/smallbusiness 1.800.VZW.4BIZ

TO LIST YOUR EVENT Crain’s lists business meetings online and includes VERIZON WIRELESS COMMUNICATIONS STORES See store for Return/Exchange Policy. them in the print edition on a space-available basis. Events in New York City with admission fees of less MANHATTAN Union Square 57 W. 57th St. 581 Broadway 100 Wall St. & Water NASSAU Westbury SUFFOLK Smith Haven WESTCHESTER 342 Madison Ave. 859 Broadway btwn. 5th & 6th Ave. 1/2 block south of Houston (Closed Sat. & Sun.) Rockville Centre 49 Old Country Rd. Bay Shore 1 Smith Haven Mall White Plains than $300 are considered for the print publication. @ 43rd St. 212-206-7587 212-980-4860 212-431-4613 212-510-6160 265 Sunrise Hwy. 516-937-2960 South Shore Mall 631-382-3720 The Westchester Mall Listings can be submitted only through the Crain’s 212-856-6100 516-594-0346 631-968-5432 914-286-4100 Web site. To submit a calendar listing, go to Hablamos Español www.crainsnewyork.com and click on “Events.” Sponsors have a choice of several free or paid listing options. All business events will be posted Activation fee/line: $35 ($25 for $59.99 BroadbandAccess plan). IMPORTANT CONSUMER INFORMATION: Subject to your Major Account Agreement or Customer Agreement, Calling Plan, rebate form and credit approval. online within two business days. Up to $175 early termination fee. If more than 5GB/line/month, we presume use is for non-permitted uses and may limit throughput speed or terminate service; see brochure for prohibited and permitted usage. Actual throughput speed varies. BroadbandAccess is available to more than 210 million people in 245 major metropolitan areas in the U.S. Offers and coverage not available everywhere. Network details and Crain’s can neither confirm receipt of listings nor say coverage maps at vzw.com. While supplies last. Shipping charges may apply. Rebate takes up to 6 weeks. © 2007 Verizon Wireless. if or when event listings will appear in the print edition.

October 29, 2007 | Crain’s New York Business | 33 Project6 10/22/07 12:37 PM Page 1

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BUSINESS “How is it going to be received if you’re wearing a toga with nothing underneath?” –Peter Post, etiquette expert Page 36 buck ennis

GOTHAM GIGS Marathon man KARL DUSEN, 25, can keep up with the best of them. Of the 179 men attempting to qualify for the U.S. Olympic Marathon team, he’s the only one who also holds a full-time job on Wall Street.The Olympic trials will be held in New York for the first time on Nov. 3. A PURE SPORT Mr. Dusen began running in high school as part of his fitness training for soccer, but he soon discovered that he was more Erich Segal than David Beckham. Recruited by Columbia University, he set a school record, completing the 10K in 29 minutes. “It’s just a fantastic sport,” he says. “There are no politics involved; it’s competition in its truest form.” GOING THE DISTANCE Mr. Dusen, who lives on the Upper East Side because of its proximity to Central Park, runs for about 90 minutes every evening and most mornings. In addition, he embarks on a two-and-a-half- hour run once a week. He qualified for the Olympic trials after doing a 2:20 marathon—a per-mile pace of 5 minutes and 21 seconds—in COSTUME DRAMA: Chicago last fall. When he’s Costume aficionado M. Xavier O’Connor not racking up miles, Mr. knows the ins and Dusen works as an analyst at outs of wearing AIG Global Investment Halloween garb on Group. Efficiently balancing the job.

his work and avocation, Mr. buck ennis Dusan only enters events held during slower weeks at AIG and always makes up missed time. BORN TO RUN Only three Trick or treat at the office participants in the trial will make the Olympic team. Though his chances are slim, 2 experts offer guidance on avoiding faux pas STAT #1 Mr. Dusen is intent on participating. He will use the BY ELISABETH BUTLER CORDOVA National tryout to assess his Halloween competition and put his name s halloween hits the city this week, many New Yorkers will loosen up spending, 2007 in the mix before returning in with a little costumed fun on the job. four years—faster, stronger and more experienced. “The All the waiters and bartenders at NoHo Star restaurant in Manhattan will 14 trials are something special,” wear costumes to work on Wednesday, maintaining a long-held tradition. In Mr. Dusen says. “They’re previous years, staffers have shown up in everything from Popeye and Olive something that no one who Oyl gear to an inflatable sumo wrestler suit. Some customers have been considers himself a marathon coming in every year since the early 1990s to see what the workers are wearing. $5.1 runner for the U.S.A. would miss.” “We start the planning a month beforehand,” says Julia Lisowski, the —adrianne pasquarelli See COSTUMES on Page 36 spot’s general manager. “We tend to get a lot of Source:billion The National Retail Federation A October 29, 2007 | Crain’s New York Business | 35 CNYB 10-29-07 A 36 10/25/2007 7:41 PM Page 1

BUSINESS LIVES Costumes at work Continued from Page 35 to get in trouble for dressing up as actors and performers working here, Sexy Bo Peep,” he says. “You don’t so some of the costumes are pretty want people to be talking about your outrageous.” Customers vote on costume for the whole next year.” their favorite outfit during the lunch When choosing a Halloween and dinner shifts, and the winners outfit, workers should consider take home $100 in prize money. what they would do if an important Though smaller businesses, in- client dropped by the office unan- cluding retailers and restaurants,are nounced. more likely than major corporations “You have to ask yourself how it’s to encourage employees to dress up going to be received if you’re wear- on Oct.31,nearly every office has at ing a toga with nothing under- least one person who goes all-out on neath,” Mr. Post says. the holiday. Choosing the right costume can Remember the keypad be tricky, however. To help em- no. 3: Do think of functionality. ployees who want to haunt their Though gnarly fake fingertips may workplace without irking the boss, put the perfect finishing touch on a Crain’s consulted two experts. One witch costume, they will seriously is costume enthusiast M. Xavier impair the ability to use a keyboard O’Connor, a 6-foot-tall profes- or a phone. sional drag queen and television “You don’t want it to detract actor who works at some of the city’s from actually doing work,” Mr. best-known cos- O’Connor says. tume shops every Stephen Morris, Halloween. For a a supervisor at the more buttoned- special education down perspective, schools in District Crain’s turned to Pe- 75, always tries to ter Post, the grand- choose costumes son of etiquette that are fun but maven Emily Post comfortable. and the author of “I think most The Etiquette Ad- people know it’s go- vantage in Business. ing to be an all-day Here are their thing and that dos and don’ts: they’ll have to live in No. 1: Do make it,” Mr. Morris says. sure that your com- He has dressed as a pany allows Hal- wizard for the last loween attire before few Halloweens; you show up in a this time he plans to head-to-toe mum- don a generic po- my outfit. liceman’s outfit. “If it’s your first Another particu- year there, test the larly trendy Hal- water,” Mr. Post loween look Mr. says. “Ask someone STAT #2 O’Connor advises whether anyone against: platform wears costumes to Average shoes. Nearly every work.” amount people store is carrying a Surprisingly, variety of tall, thick- Starbucks, the too- plan to spend heeled shoes, cool coffee chain whether coated with that employs plenty 14 red glitter to evoke of young baristas, $64.82 Dorothy or black has a strict no-cos- Source: The National Retail Federation patent leather for a tume policy, says Saturday Night Jeanne Fleming, an Fever effect. organizer of the Village Halloween “Save those 5-inch stilettos for Parade. the party,” Mr. O’Connor says. “If Conversely,some of the city’s law you’re standing in them for hours at firms encourage the entire staff to a time, you will be in pain.” dress up for work and go down to the Finally, No. 4: Don’t forget good parade together, Ms. Fleming says. old-fashioned common sense. Every year, a few office workers Keep it clean go to a Halloween store in search of mr. post advises employees who a shocking costume, Mr. O’Connor are unsure of the corporate policy to says. forgo a full costume and opt instead Avoid costumes depicting polit- for a simple witch’s hat or a Hal- ical figures, racial jokes or anything loween-themed tie. to do with terrorism.Remember the No.2:Don’t use Halloween as an stir Prince Harry caused when he excuse to let your sexpot freak flag was caught coming out of a party fly at work. Over the years, store- dressed in a Nazi costume? bought adult costumes have become Still,a few Wall Streeters will ask increasingly risqué, with plunging for fake-bomb belts or realistic- necklines and ever-shorter skirts. looking toy guns, Mr. O’Connor Young women who are looking says. “I always tell them, ‘You do to spice up their day generally go for something like that, and you’re go- this type of getup, according to Mr. ing to make the 6 o’clock news.’ ” O’Connor. Happy haunting! “They’ll want to wear something Mellon Bank, N.A. Member FDIC © 2007 The Bank of New York Mellon Corporation. really sexy, but we don’t want them COMMENTS? [email protected] CNYB 10-29-07 A 37 10/25/2007 7:40 PM Page 1

BUSINESS LIVES CORPORATE LADDER Patricia Rado Unretiring accountant Former utility exec working at all at this point. She ac- tually retired in January after nearly PERSONNEL FILE comes out of brief 30 years with several utilities in the Northeast,most recently as chief ac- COMPANY American Stock retirement to prep counting officer at Public Service Exchange Amex for an IPO Enterprise Group Inc., a big New TITLE President and chief Jersey power company. operating officer BY AARON ELSTEIN Challenging road AGE 65 her new job will entail helping to RÉSUMÉ Chief accounting hirty-four years ago, prepare Amex for an initial public officer, Public Service Enterprise Patricia Rado was living offering, a route that other ex- Group Inc. the quiet life of a Con- changes have taken and that greatly necticut housewife,rais- enriched their members. MANAGEMENT STYLE Personal ing three young children The move could be a long shot for INDISPENSABLE GADGET Tand working part-time when she Amex,which has struggled with reg- In-house phone directory could, waiting on tables or doing ulatory problems and loss of market various bookkeeping jobs. share for years. In March, the Secu- When her kids went to school, rities and Exchange Commission work in anticipation of Y2K. The she began taking classes at her local ruled that the exchange had failed to project took four years and cost community college to become an adequately police its members over a about $500 million. accountant. Impressed by her talent five-year period ending in 2004, be- Ms. Rado stayed for a few years

and effort, one of her instructors fore the current management team after that exhausting exercise. But buck ennis hired her at his accounting firm. was installed. Ms. Rado’s post was she looked forward to retirement She never imagined where it vacant for more than two years. and spending more time with her tion two years ago, when the person use,” Mr. Wolkoff says. would all lead. Earlier this month, Ms. Rado, who has a sign in her three children, four stepchildren, who recruited her for the PSEG job Ms. Rado relishes the unexpect- Ms. Rado was named president and office with the injunction “No and eight grandchildren—not to asked her to help Amex, where the ed challenge. Helping guide Amex chief operating officer of the Amer- whining,” has a lengthy to-do list. mention playing golf, bike-riding recruiter’s husband worked. to a successful IPO would be the ican Stock Exchange. It is the high- No. 1 is upgrading Amex’s technol- and training for triathlons. In August, Mr. Wolkoff named ultimate finish—not to mention an est position ever held by a woman at ogy, which is so shoddy that trading Ms. Rado to lead a board commit- enormous payday—for someone the 97-year-old institution. has been interrupted several times The hand of fate tee charged with assessing the ex- who didn’t start her professional life “The word that comes to mind is this year. but fate—or rather, Amex change’s technology. He appointed until her mid-30s. bizarre, ” she says about her career She knows what it’s like to re- Chief Executive Neal Wolkoff—in- her president six weeks later. “Anybody can train for any- and the unconventional background vamp systems for an entire organi- tervened. He knew Ms. Rado from “She has a good management thing,” she says. “I’m proof.” she brings to Wall Street. zation, having helped oversee an her service as a member of the board background and good financial ex- Ms. Rado wasn’t planning to be overhaul of PSEG’s computer net- of governors. She landed that posi- perience, which we can certainly COMMENTS? [email protected]

October 29, 2007 | Crain’s New York Business | 37 CNYB 10-29-07 A 38 10/25/2007 7:35 PM Page 1

BUSINESS LIVES

EXECUTIVE MOVES

ACCOUNTING & CONSULTING senior account director. Northfield Bank: Donna Foster, 42, was Global Consulting Group Inc.: Leslie Wolf- BCA Marketing Communications Inc.: promoted to senior vice president from HOT JOBS Creutzfeldt, 51, joined as managing Evelyn Galli, 52, was promoted to chief vice president. director. She had been senior vice presi- operating officer from vice president and RBC Capital Markets: David Daniels, 44, dent at the Financial Relations Board. management supervisor. joined as managing director. He was WANTED: CHIEF INFORMATION Smart Business Advisory and Consulting: J. Wunderman: Steve Zammarchi, 55, was formerly a managing director at Howard Stecker, 50, joined as executive promoted to managing partner, Wachovia Securities. OFFICER managing director. He was formerly chief corporate development, a newly created Sterling National Bank: Joseph Costanza, tax officer at Prudential Financial Inc. position, from president, New York. 58, joined as senior vice president, asset- ORGANIZATION American Society for the Prevention of Cruelty Becky Chidester, 48, was promoted to based lending. He had been Northeast to Animals ADVERTISING & COMMUNICATIONS president, New York, from chief and mid-Atlantic regional manager at JOB DESCRIPTION Develop, direct and maintain the organization’s Azoogle.com Inc.: David A. Graff, 40, was operating officer. LaSalle Business Credit. appointed general counsel. He had been Patricia Hrotko, 44, joined as senior vice information technology systems; direct staff of 21 in two offices executive vice president and general FINANCE & INSURANCE president, marketing. She had been MOST IMPORTANT TASKS Develop and maintain technology budget counsel at Edison Schools Inc. AIG Investments: John T. Boyce, 48, joined director of marketing at First Morris BBDO New York: Elizabeth Daggett, 37, as managing director, head of Bank & Trust. CREDENTIALS NEEDED 10-15 years of management experience, M.B.A. was promoted to worldwide account institutional sales for the Americas. He U.S. Trust, Bank of America Private RECRUITER Internal director from senior vice president and was formerly senior vice president at GE Wealth Management: Roy Weydig, 62, Asset Management. joined as specialty asset regional DOWNSIDE Responsible for hiring top IT talent at nonprofit salaries New York Life Investment Management: manager. He was formerly a vice UPSIDE Benefit package includes training seminars, a tuition EXECUTIVE PROMOTIONS David G. Bedard, 43, joined as senior president at Bank of New York Mellon. assistance program and a 50% veterinary hospital discount The fastest way to get an announcement into managing director and chief financial Crain’s is to submit details online. Fill out the form officer. He had been senior vice president LAW Founded in 1866, the ASPCA has more than 400 employees and anoth- at www.crainsnewyork.com/submit. The and chief financial officer, U.S. wealth Hinshaw & Culbertson: Edward K. Lenci, er 100 volunteers at locations throughout the country. The organization Executive Moves column is also available online. management group, at The Hartford. 44, joined as partner. He had been a recently made headlines after it publicly disagreed with a New York Post partner at Wilker & Lenci. Kirkland & Ellis: Galia Messika, 33, was story that named New York City the “dogfighting capital of the world.” promoted to partner from associate. —KIRA BINDRIM Ellen Agnes Scordino, 33, was promoted to partner from associate. Howard D. Shatz, 32, was promoted to partner from associate. Mayer Brown: Robert D. Gilbert, 52, MEDIA & ENTERTAINMENT TV Guide Online: Christy Tanner,38,was joined as partner. He had been a partner Brooklyn Center for the Performing Arts: named editor in chief and continues as at Sheppard Mullin Richter & Frank L. Sonntag, 45, joined as vice president of marketing. Hampton. managing director. He was formerly Nixon Peabody: Karen B. Greenbaum,54, director of development for the New REAL ESTATE joined as chief operating officer and York Foundation for the Arts. Bayrock Group: Brian Halberg,36,was managing director. She was formerly NBC Universal Television Stations: Mat- appointed senior vice president and worldwide partner at Mercer. thew Braatz, 40, was promoted to senior assistant general counsel, a newly Ropes & Gray: Christopher P.Conniff, 40, vice president, technology and opera- created position. He had been an associ- joined as partner. He had been assistant tions, from vice president of technology. ate at Kramer Levin Naftalis & Frankel. U.S. attorney for the Southern District Scientific American: Steven Yee,47,was Grubb & Ellis: Alan Weisman, 73, was of New York. named president of the Macmillan title. promoted to executive managing White & Case: N. Adele Hogan, 47, joined He had been senior vice president and director from senior managing director. as partner. She had been a partner at head of global marketing at Reuters —adrianne pasquarelli Linklaters. Media. and sarah studley

38 | Crain’s New York Business | October 29, 2007 CNYB 10-29-07 A 39 10/25/2007 7:38 PM Page 1

BUSINESS LIVES TABLE TALK by Bob Lape whitewashed walls, blond-wood (212) 754-5999. Jimmy Rodriguez flooring and large, colorful paint- BEST OF BOB LAPE returns to the East Side with a ings of tropical fruit. Its impressive high-value, pure Puerto Rican wine list holds more than 110 Span- Following are other Latin/Spanish eatery featuring family food. ish options. Markups are generally restaurants reviewed recently: low, with a few high-end wines ac- tually priced under retail wine store Rayuela levels. 165 Allen St. (between Stanton and Rivington streets), Manhattan. PAMPLONA ½ (212) 253-8840. This chic “freestyle Strictly kosher gift baskets for the holidays, 37 E. 28th St. (between Madison Latino” restaurant has an olive tree condolence, & year-round events. www.kosherline.com • 888-567-4378 Avenue and Park Avenue South) growing through it. Chef Maximo (212) 213-2328 Tejada lights up the Lower East CUISINE Spanish Side with creative cookery from all of Latin America and Spain. WINES 30 Spanish wines, 12 by the glass Buzina Pop PRICE RANGE $25-$32 1022A Lexington Ave. (at East 73rd WINE MARKUP 33%-300% Street), Manhattan. (212) 879-6190. There is eye candy everywhere at lex ureña, one of New this new mod Brazilian. Artful and York’s most gifted Spanish flavorful contemporary food, vi- Achefs, is hitting all the right brant ethnic surroundings and at- notes after retuning his East 28th tractive people, serving and dining. Street restaurant. Now called Pam- plona, it is more bistro than cutting Lua edge, but anything this chef tackles 1300 Sinatra Drive North (1 14th emerges with savory style. Even at St.), Hoboken, N.J. (201) 876-1900. the bar,popcorn popped in rendered A huge, loud, contemporary pan- chorizo oil is dusted with chorizo Latin restaurant and bar with spec- powder for extraordinary taste. Af- tacular views of Manhattan. ter inhaling its aroma on the way in, we requested some at the table. Sofrito This did not deter our apprecia- 400 E. 57th St. (between York and tion of the Pamplona tapas—salt First avenues), Manhattan.

buck ennis cod and cheese croquettes here, MORE STYLISH LOOK: Lucy of Gramercy, in the ABC Carpet & Home building, has whitewashed too—and appetizers such as octo- walls, blond-wood flooring and large, colorful paintings of tropical fruit. pus braised in red wine. Another app of distinction is poached shrimp served with creamy Manchego rice and chorizo sauce. As someone who thinks there is never too much chorizo, I welcome 2 Latin spots the smoky intensity it adds when ground into chef Ureña’s hamber- guesa patty—or when alternating with shrimp on skewers. draw new fans And while this owner/chef has downshifted from Il Bulli aspira- Lucy of Gramercy She starts with picadera, the street tions, he still blends a mean chest- food of San Juan, which is not only nut purée with his succulent roast features upscale Puerto a fine introduction to her cuisine, suckling pig. VIP Clients but an ingenious way to add anoth- For dessert ($7 to $9), almond- Rican; Pamplona er course to meals at Lucy. Almost and-chocolate tart is the winner, retunes with Spanish all picadera ($6 to $12) are fried churros a close second. VIP Events items, served in martini glasses. Pamplona’s bar makes excep- There are cod or cheese fritters, tional cocktails. The omnipresent two notable Manhattan res- pork bites with chimichurri sauce, green apple martini has a thick, VIP Venues taurants with a Latin and/or Span- and yucca fries with roasted garlic sweet foam of Granny Smiths, and ish lilt are attracting new fans after aioli. Grated plantains with garlic saffron-infused ice cubes chill a visual and culinary makeovers. Lucy are the crunchiest nibbles you’ll find Bombay Collins. Sangria is also • • of Gramercy and Pamplona are both anywhere. first-rate. Audio Video Lighting open for dinner every day, Pamplo- First plates, if you’re not count- na for lunch weekdays. Credit cards ing from the actual top,show the so- COMMENTS? [email protected] are accepted,reservations are recom- phistication level of chef Gonzalez’s mended,and easy informality blends approach. Don’t miss seared yel- with lively-when-full ambiance. lowfin tuna with malanga mash and coconut gastrique,much better than LUCY OF GRAMERCY a peekytoe crab and avocado terrine 35 E. 18th St. (between Broadway and with Key lime mayo, where flavor Park Avenue South) took a holiday. 1.800.862.3210 (212) 475-5829 The new chef in town has flair CUISINE Upscale Puerto Rican with fish, whether striped bass with www.kvlav.com charred tomato and scotch bonnet WINES 275 choices, 17 by the glass; sauce (hot!), or pan-seared snapper sommelier with chorizo stew. Berkshire pork PRICE RANGE $23-$36 also inspires her, as either a lusty We rent peace of mind. WINE MARKUP 10%-180% chop or tenderloin, both with sweet LUCY OF GRAMERCY’S new chef Nationwide rental, staging, sales and installation of plantain accents. specializes in the food of San Juan. state-of-the-art audio visual equipment at here’s a new Puerto Rican Desserts ($10) are small, but the the most competitive rates. star in the kitchen of Phil silky smooth, rich flan is as good as = Outstanding Suarez’s restaurant in the it gets, even if the ice cream with it = Excellent TABC Carpet & Home building. is not. = Very good Depend on KVL like CRAIN’S Chef Carmen Gonzalez is up from Lucy, named for Mr. Suarez’s = Good Miami to lead the culinary charge. wife, is more stylish these days, with

October 29, 2007 | Crain’s New York Business | 39 Project8 10/22/07 1:04 PM Page 1

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