TOP STORIES SPECIAL ISSUE Slimmer Shearman Annual & Sterling back from hard times Book PAGE 2 ® of Lists 4 proposals to COMING NEXT WEEK create Chinese trade marts face many obstacles VOL. XXII, NO. 51 WWW.NEWYORKBUSINESS.COM DECEMBER 18-24, 2006 PRICE: $3.00

PAGE 2 MAN AND BRAND: The company Tim Zagat The big picture founded almost three decades wants to be a Overhaul on helping the force on the Internet. state’s mentally ill GREG DAVID, PAGE 11 Medicaid, The rewards of in-kind donations; online philanthropy; Spitzer told volunteerism CORPORATE GIVING P. 17 Top adviser targets Megu spreads out maze of spending in spacious spot in midtown, produces centers without three-star meal organized oversight BOB LAPE, PAGE 39 BY GALE SCOTT

BUSINESS LIVES governor-elect Eliot Spitzer’s lead health care adviser will recom- mend that the new administration immediately overhaul New York’s $46 billion Medicaid program. Reforming the health insur- ance system for the poor poses an

enormous challenge for the in- jennifer chiu coming governor, who takes office LATE-SHOPPING TIPS on Jan.1.The first step is to untan- make within the first 100 days of

10 new stores offer buck ennis gle a maze of departments, agen- his administration.” unique gifts at various cies and divisions that share re- Mr.Tallon lays the groundwork prices PAGE 35 sponsibility for Medicaid, says for centralizing Medicaid’s admin- James Tallon, a former state as- istration in a report to be released Zagat eats up semblyman and member of the this week by the hospital fund, a Spitzer transition team. health care policy nonprofit based AT DEADLINE “This is a call for action,” says in Manhattan. The 58-page Mr. Tallon, president of the Unit- study—the most extensive exami- ELIOT SPITZER’S TOP DEVEL- the competition ed Hospital Fund. “These are nation of its kind—points to a con- OPMENT OFFICIALS will decide changes that the governor can See SPITZER on Page 34 early this week whether to seek a delay in a crucial vote on ing editions for hotels and shop- the Atlantic Yards project.The Huge growth spurt ping. More are sure to come. development is scheduled for a fuels expansion The mood is buoyant at the 27- vote on Wednesday before the year-old company, which has out- Public Authorities Control plans; still working done myriad competitors, most re- Countdown begins Board but could be put off at cently Michelin Guide.The French the request of Assembly on Web strategy firm launched in New York last year Speaker Sheldon Silver, an ally but sold only 150,000 copies, less for city’s retailers of Mr. Spitzer.The governor- BY LISA FICKENSCHER than a quarter of the Zagat eatery elect’s appointees to the guides sold in this city alone. Christmas in New York has a lot Empire State Development are zagat surveys in China and A $31 million investment,made Warm temps help going for it this year. Warmer Corp.—Co-Chairman Patrick India around the corner? Are in 2000, helped Zagat to signifi- some stores, but hit weather held off the snowstorms Foye and President Avi sports car rankings in the works? cantly expand its operations and that interrupted holiday shopping Schick—are rushing to “We’ll probably do those earning power.In the past five years, apparel sellers hard last year,and there’s no hint of a re- familiarize themselves with things,” says Tim Zagat, co- revenue has more than doubled, play of the subway strike that par- Forest City Ratner Co.’s. founder and chief executive of the Mr. Zagat says.Those revenues are alyzed the city for three critical $4.2 billion development. publishing company most famous estimated to be more than $50 mil- BY ELISABETH BUTLER days last December. Tourists flush for its restaurant ratings books. lion, according to InfoUSA.com. with euros are also flooding shops DENNIS RIVERA, THE POWERFUL In fact, just about any topic or Staff has also grown, to 120 full- new york retailers are enjoying here, pushing up sales of electron- HEAD of health care workers location is on the table at Zagat timers, necessitating the lease of a a brighter Christmas shop- ics, bath and body products union 1199 SEIU, is expected Survey these days. The company’s second floor at company headquar- ping season than others and home goods. See AT DEADLINE on Page 2 signature burgundy restaurant ters, at 4 Columbus Circle. around the country. “Tourism trade just guide now has five siblings,includ- Zagat’s business with corporate Following a strong per- 6%INCREASE drives traffic,”says Marshal in foot traffic partners, which buy thousands of formance in November, in New York Cohen, chief analyst at books as promotional giveaways, stores have had 6% more stores so far NPD Group. has mushroomed. Sales of its $25 foot traffic so far in De- in December However, the balmy annual online subscription service, cember than last year, ac- weather has wrecked holi- which gives users access to reviews, cording to trend-tracking firm day sales plans for some apparel re- have tripled since 2001.In fact,less NPD Group. That contrasts with tailers. With temperatures in the ELECTRONIC EDITION than 25% of sales now come from an 11% decline nationwide for the mid-50s and forecasters not pre- See ZAGAT EATS on Page 34same period. See COUNTDOWN on Page 33 NEWSPAPER AT DEADLINE

Continued from Page 1 J&R Music World Tuesday as to be named to a new position the store tries to attract classical charged with organizing music fans who previously hospitals and nursing homes shopped at Tower Records. nationwide. Mr. Rivera has built Rachelle Friedman, a co-owner 1199 into a potent force with a of J&R, says she doesn’t usually winning combination of schedule in-store events during political clout and a tight the busy week before Christmas, partnership with hospital but she wants to win some of management. He would the business left behind by the continue to be based in New recent closing of Tower’s York and retain his title of Greenwich Village store. president of 1199, but would leave more of the daily HEMSCOTT GROUP LTD. AND operations to David Gresham, I-DEAL are expected to announce secretary-treasurer. today that they merged to create Ipreo. The new company, based NATIONAL FAST-FOOD CHAINS ARE in Manhattan, would combine RELUCTANT to serve as plaintiffs Hemscott’s data analysis in a potential lawsuit against the products for financial services city over a health department firms and i-Deal’s back-office rule that requires the posting technology for investment of calorie information on banks. Ipreo would have about JOHN MADDEN says restaurant menus. But they are $100 million in revenue. Private Shearman & Sterling asking local franchisees to file equity firm Veronis Suhler probably had more lawyers suits, according to industry Stevenson is the likely majority than it needed. He favors a insiders. owner of Ipreo, with Citibank “targeted approach.” and Merrill Lynch becoming HOTEL INVENTORY IN NEW YORK minority investors. Also, Ipreo buck ennis CITY WILL SOAR next year upon is expected to announce the the opening of 29 hotels and acquisition of Marketpipe, a the addition of 4,157 rooms, U.K.-based financial services according to new data from tech firm. Poaching survivor hospitality experts at PKF Consulting. Twice as many THE MYSTERIOUS DEATH OF rooms will be added in 2007 as FORMER KGB AGENT Alexander were this year. Based on an Litvinenko will be the subject of Shearman & Sterling climbs back from tough times industry standard of one a book by Alan Cowell, London employee per room, the new bureau chief for The New York hotels will add about 4,000 jobs Times. Doubleday Broadway BY HILARY POTKEWITZ citywide. bought rights to Sasha’s Story: The Life and Death of a Russian over the past four years, legal recruiters prowling for talent knew they had a good shot at FAMED CONDUCTOR DANIEL Spy, which will explore the plucking personnel from Shearman & Sterling. BARENBOIM will appear at possible role of Russian A raft of lawyers left for competing firms: Partners in the antitrust, investment ■ downtown electronics retailer President Vladimir Putin. management, employment, intellectual property and tax practices exited, in some cases taking other Shearman attorneys with them.Two managing partners departed for vice chairman posts CORRECTIONS at Wall Street investment banks—Stephen Volk to Credit Suisse First Boston and David Robert Descenza is an executive vice president at Thornton-Tomasetti. His title was misstated Heleniak to Morgan Stanley, both firm clients.The head count in the New York office in the Dec. 4 article “Timing is everything” in the real estate report. Jacky Teplitzky’s last name was misspelled in the Dec. 11 “Business Lives” story on visas. dropped to 430 lawyers last year, down from 545 lawyers in 2002. “For a while, they were viewed as a target,” says Jonathan Lindsey, managing partner at legal recruiter Major Hagen & Africa. “People thought they were having problems, and their See SHEARMAN on Page 31 THIS WEEK IN CRAIN’S NEIGHBORHOOD

JOURNAL------8

THE WEEKS AHEAD ------9 One-stop Chinese shopping

GREG DAVID ------11 could help Chinese manufacturers Four trade marts MART SMARTS A status report on the THE INSIDER------12 four proposed Chinese trade marts in navigate the complexities of U.S. for overseas firms various stages of development PAGE 34 customs and connect with retailers REAL ESTATE DEALS------13 and distributors. The centers could in development; also facilitate transactions for U.S. 37 WEEK IN REVIEW ------14 many obstacles four proposed projects designed to buyers who don’t have the resources SMALL BUSINESS ------15 bring Chinese companies together to go to China and U.S. exporters in central locations. Wholesale cus- seeking buyers in Asia. REPORT: BY SAMANTHA MARSHALL tomers will be able to do one-stop “If these are successful, they shopping for everything from home could be part of an overall merchan- CORPORATE GIVING ------17 the mustard-brick building in a furnishings to hardware and con- dise mart strategy that makes a lot of CLASSIFIEDS ------32 rundown section of East Elmhurst, sumer electronics manufactured in sense for New York,” says Laure Queens, shows little promise. The China and other parts of Asia. Aubuchon, head of international BUSINESS LIVES------35 116,000-square-foot former home business development at the city’s Navigational help CORPORATE LADDER------37 of Standard Folding Cartons is to- Economic Development Corp. tally deserted, with just a small sign city officials and local investors Of all the trade marts in the EXECUTIVE MOVES------39 38 in Chinese characters on the front are pushing hard to make these per- pipeline, Grandland is the furthest BOB LAPE ------39 door. manent showrooms and exhibition along.The company projects $8 mil- Not an auspicious beginning for spaces happen. They see an oppor- lion in sales by the end of its second vol. xxii, no. 51, december 18, 2006—Crain’s New York Business (issn 8756-789x) is pub- lished weekly by Crain Communications Inc., 711 Third Ave., New York, NY 10017. Period- what is supposed to become the tunity as so many Chinese business- year of operation in 2008 and prom- icals postage paid at New York, N.Y. and additional mailing offices. Postmaster: Send address $46 million Grandland Expo Cen- es look for a way into New York.The ises plenty of support for tenants,in- 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 ter for Chinese companies by next city’s large Asian labor pool is an cluding translation services, ship- copy, $59.79 one year, $109.79 two years. (GST No. 13676-0444-RT) ©Entire contents June. In fact, renovations are await- added attraction. ping and delivery assistance, legal copyright 2006 by Crain Communications Inc. All rights reserved. ing the completion of a sale contract. With translation and support advice and business introductions. Grandland is only one of at least services on site, these trade marts But those with experience in the

2 | Crain’s New York Business | December 18, 2006 BY THE NUMBERS Software success ‘EMPIRE STATE NOMINATES ...’ processing, e-mail and other func- relationship with Intel means that come loaded with Glide software in new york city has been the TransMedia’s Web tions that can work on Windows handheld computers that are pow- the near future. site of six presidential nominat- application connects PCs or Apple Macs without re- ered by Intel chips, such as those “Potentially, that could give us ing conventions over the years— quiring users to download addi- from Samsung and Toshiba, could exposure to 30 million consumers five for the Democratic Party with subscribers, tional software. next year,” says Mr. Leka, whose and one for the Republican “Their technology is critical, inspiration for Glide came from brings in revenues DONALD LEKA, Party. Local officials love hosting since everyone agrees that eventu- founder and chief his frustration at trying to pull to- the events, which draw money ally all software will be hosted on executive of gether various bits of digitized in- and attention. Earlier this year, BY AMANDA FUNG the Web,”says Rob Enderle,a tech- TransMedia, formation. As an executive work- when the Dems started looking nology consultant. predicts that the ing for health media company at New York for their 2008 gath- when transmedia corp. unveiled Still,TransMedia has a long way company’s RxRemedy,Mr.Leka,who is also ering, city officials made their revenues will soar its Glide Web-based software late to go. Revenues in the fiscal year to $10 million in the an amateur composer of classi- pitch. Of course, the GOP event last year, a remarkable thing hap- ending July 30 came to a mere $1.5 current fiscal year. cal music, had spent hours in 2004—when the town was pened. Critics—including some of million. However, Donald trying to bring together au- invaded and the streets locked the most powerful in the land—not Leka, the company’s dio, video and data files down—left many New Yorkers only noticed; they gushed. founder and chief ex- in different formats wishing they’d never again wit- “It is the most interesting online ecutive, predicts that from various com- ness a political convention. service I’ve seen in quite a while,” revenues will soar to puters. wrote Wall Street Journal tech $10 million in the cur- Presidential nominees columnist Walter Mossberg. rent fiscal year. Thinking big David Pogue proclaimed in The To date, the bulk of it was then that selected at NYC New York Times, “Glide’s core idea revenues has come from he discovered how conventions is unassailably fresh and useful.” individual subscriptions. useful it would be Not bad for a virtually unknown While the basic Glide service is to have software * company—a five-year-old,24-per- free, 17% of users opt for extra on- that could make his 1868 son outfit tucked away in an eighth- line memory and pay fees starting at task easy. Armed with HORATIO floor office on Manhattan’s West $4.95 a month to get it.In addition, only a rough concept, SEYMOUR 18th Street. the company has a handful of cor- in 2001 Mr. Leka hired porate clients,including New York a programmer to code Democrat Ready for future University and media company the first version of Glide, Lost to Ulysses S. Grant in general despite its size and youth,Trans- Univision, that pay a fee formed a company to devel- election Media has garnered far more than based on the num- op it and hit the road to good reviews for its software. The ber of users. pitch investors. company also boasts 250,000 sub- TransMedia MORE THAN To date, he has raised scribers and has partnered with plans to license $6.1 million. 1924 mighty Intel to make Glide com- Glide technology Mr. Leka is thinking big. JOHN W. patible with the microprocessors next year to compa- He talks of Glide someday DAVIS that will power the next generation nies that want to im- supplanting even Microsoft 100 Democrat of handheld computers. plement it on their own Office in some niches. In the Glide’s popularity stems from Web sites. For example, ANGEL INVESTORS meantime, though, TransMe- Lost to Calvin Coolidge in general its ability to allow users of all sorts an entertainment Web site dia faces competition from election of devices—from PCs to cell would be able to rely on Glide companies—including Google phones—to work on everything to provide users with an online and Microsoft—that are from Word files to slide shows music store, Web-based e-mail launching Web-based products 1976 without having to physically trans- service and storage space on the 250,000 similar to Glide. fer the information from one Internet where they can save and SUBSCRIBERS “It’s all about innovating,” JIMMY device to another.Glide permits all access photos and other files. The says Mr. Leka. “Microsoft doesn’t CARTER of the information to be stored company believes that this addi- scare me, but I would be crazy not Democrat centrally and accessed via the tional business could bring in sub- to worry about Google.” Web.TransMedia also throws in its stantial new revenues. Beat Gerald R. Ford in general COMMENTS? election own set of applications for word More important, the company’s david neff [email protected]

tions are a major issue. Members of about past problems with labor 1980 the International Trade Center—a practices in China. JIMMY CARTER planned for NY consortium of New York-based Space is another challenge. Ex- Democrat businesspeople who are planning perts say such facilities need to have another trade mart, the Interna- a floor plan of at least 300,000 Lost to Ronald Reagan in general tional Outlet Exchange Center— square feet to justify their existence. election have already made six trips to Chi- Mr. Winsor, whose 7 million- na over the past two years,in part to square-foot Dallas merchandise lobby U.S. embassy officials in Bei- mart is on the scale of a small city, jing to help Chinese investors get says he recently passed on an offer to 1992 green cards. be involved in a Chinese trade mart BILL CLINTON because it was too small and its busi- Long time coming ness plan was dubious. He wouldn’t Democrat “the application process alone say which project he turned down. Beat George H.W. is going to take at least another Mr. Winsor also questions Bush in general election year,” says Myles Matthews, chief whether those involved in oper- executive of the nonprofit Global ating the marts will have enough MYLES MATTHEWS has Trade & Technology Center, who’s experience. been leading missions to been leading missions to China for The Grandland investors are a 2004 China for the International the exchange center. group of Fujian-based property de- GEORGE W. Outlet Exchange Center So far, about 40 mainland in- velopers with trade experience in BUSH project. vestors have expressed interest in Africa and other parts of Asia.They

buck ennis the project, but only if they are giv- have run trade marts in Asia, but Republican en the right to live in the United whether they will succeed in the Beat John Kerry in general election world of trade marts say that suc- trade marts in the world. “These States. U.S.with its tighter regulations is an cess is far from assured. aren’t just property plays; they need There are also strict U.S. trade open question. Beijing Vantone is *Held at Tammany Hall (all others held at Madison “You can’t just throw a building a deft hand on the wheel.” rules concerning quality control the developer behind Vantone Chi- Square Garden). up and hope they’ll come,” says Bill The obstacles to launching one and how a foreign company’s prod- na Center.The company,which was Sources: Democratic National Committee Winsor, chief executive of Dallas of these centers make deciphering ucts are manufactured. Trade offi- going to open a mix of offices and and Republican National Committee Market Center, one of the biggest Mandarin look simple.Visa restric- cials are concerned, for example, See CHINESE on Page 34

December 18, 2006 | Crain’s New York Business | 3 IN THE MARKETS HIGHLIGHTS REEL Realignment is lending +0.8% vitamin maker major pep The Bloomberg/ year, when NBTY was in the doldrums, pean stores,wholesale and direct—which Crain’s New NBTY’s move to share burdened by underperforming stores,ris- consists solely of Puritan’s Pride vitamins York Index with wholesalers pays ing raw material costs and consumers tir- bought through the Internet and cata- gained ing of low-carb nutri- logs. 0.8% to end off; stock not cheap tion bars. By far,the most im- the week at ➡ But things have portant of those is 378. The improved markedly wholesale, which de- S&P 500 BY TOM FREDRICKSON since then. The com- livers nearly half of Index pany, based in Bo- NBTY’s total rev- gained 1.2%, ne of the biggest win- hemia, L.I., has shut- enues. The unit mar- closing at ners among New York tered 14% of its 542 kets Nature’s Bounty, 1427. firms in 2006 has been per- Vitamin Stores, Rexall and Sundown forming like a company on wholesale demand has brands to distributors heavy doses of nutritional risen and materials that in turn sell to RISERS Osupplements, which is what it is. Shares prices have stabilized. Wal-Mart and other 5-DAY 1-MONTH 3-MONTH CLOSING of NBTY Inc.—a maker of vitamins, For the 2006 fiscal leading retailers. % CHANGE % CHANGE % CHANGE PRICE herbal products and other supple- year ended Sept. 30, Additionally, the Amrep +25.6% +63.7% +196.3% $129.40 ments—have soared 143% this year.They NBTY’s operating wholesale business closed Friday at $39.45, a gain of 7% in income surged 27%, has benefited enor- Lazare Kaplan +9.2% +8.7% -2.06 $9.50 the past week alone. to $175 million, on an mously from a strategy Alloy +7.6% -12.2% +0.5% $11.46 The stock is no longer the bargain it 8.2% sales increase, to shift implemented a Market cap $2.64 billion IAC/InterActiveCorp +7.4% +14.2% +33.5% $38.45 once was. It’s trading at a lofty 24 times $1.9 billion. Analysts few years ago, when Dow Jones +7.0% +8.4% +15.6% $38.90 its trailing 12-months per-share earn- are projecting a 36% Operating margin 5.9% the company began ings,versus a median annual average of 20 gain in operating in- using its stores as labs Employees 10,900 over the past five years, according to fig- come this fiscal year, to gauge consumer SINKERS ures from Capital IQ. Investors should to $238 million. trends. When hot 5-DAY 1-MONTH 3-MONTH CLOSING look for something else to give their port- Much of the products are identi- % CHANGE % CHANGE % CHANGE PRICE folio a jolt of energy. growth is due to aging baby boomers,who fied, NBTY quickly puts them into its Regeneron -7.0% -14.3% +20.5% $20.19 “Everything is going well, and the provide an expanding market for NBTY’s wholesale channel rather than reserving Standard Microsystems -6.2% -11.7% -0.8% $29.13 company is well-positioned,” says supplements. Acquisitions have also winners for its own stores. Michael Gallo, an analyst at CL King & helped. NBTY has bought more than 30 “The company has a great relationship Value Line -4.6% +5.2% +13.6% $52.67 Associates,who downgraded the stock to companies over its 27-year history—in- with wholesalers,” says Mr. Gallo at MasterCard -3.9% +0.9% +48.0% $96.19 “hold” earlier this month. “We just think cluding three in the past two years.It pro- CL King. Jefferies Group -3.7% -5.6% -3.5% $28.10 the stock is fairly valued.” duces a blizzard of 22,000 products sold In hindsight, the time to buy was last through four channels: U.S. stores, Euro- COMMENTS? [email protected]

STOCKS TO WATCH Time Equities, Inc. is pleased to offer TV Mad man Cramer spurs J. Crew with on-air nod to retailer’s shares MICKEY DREXLER, chief executive of apparel retailer J. Crew Group, got an early Christmas present last week when CNBC host Jim Cramer recommended the stock as a “buy” on his television show, Mad Money. He praised the company’s operating margins and said that its same-store sales will probably improve. The Up to approximately stock price, which has been rising 120,000 contiguous since November, jumped immedi- square feet ately upon Mr. Cramer’s comments. in the tower section of the building Everybody knows that Wall Street hates companies that think big and sacrifice short-term profits for long-term gains. That’s why so many labeled Verizon, which is spending billions on its high-speed fiber system, a sure Highly efficient floor loser. Oops. Verizon’s shares are up about 20% this year. Cynics say investors plates of 20,210 are buying into the company’s successful wireless arm, but there are signs square feet each that the fiber system may yet be a winner, too. The bad news for Martha Stewart’s For more information visit shareholders is obvious. The company has been losing money for two years. www.timeequities.com/633 The good news is that the losses have or contact: been narrowing, and that is what Michael Rudder investors are focusing on, pushing the 212.206.6072 shares up about 20% in the last three [email protected] months. Meanwhile, the company said it is mulling the creation of a Martha food line, and a big homebuilder said it would construct 183 Martha-designed homes. charts: jennifer chiu

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Martha’s new logo Just two TV execs breaking bread a better thing as the throngs let out of City artha stewart living Center after an Alvin Ailey dance performance last Tuesday, Tom Omnimedia has a new logo that Freston and Lorne Michaels were will soon grace most of its spotted dining together at M Estiatorio Milos, a swanky Greek properties.The circular mark, designed by Steven Doyle of Doyle Partners, has restaurant on West 55th Street. Mr. Freston was the chief Owen Hane already popped up on the company’s executive of Viacom Inc. until his Web products, including the Martha octagenarian boss, Sumner Stewart page on Kodak.com. Redstone, summarily dismissed him in the fall (not long after Tom The branding initiative, which Cruise got the boot from Viacom’s MSLO has been working on for Paramount Pictures). months—it hired ad firm kirshenbaum bond Mr. Michaels is executive + partners earlier this year—is expected to be producer of Saturday Night Live to Senior Director and the new NBC sitcom 30 Rock. in place for the rollout of the company’s home An NBC Universal spokesman goods in Macy’s this fall. for Mr. Michaels says not to make anything of the tête-à-tête

gettyimages MSLO has seen business surge since between the two New York www.cushmanwakefield.com founder Martha Stewart (left) was released entertainment industry power from jail in March 2005. No executives were players. “They’ve been friends for available for comment. a long time,” he says.

Options: A Workshop in Taste Hotlanta fertile and Technique,” March 13—and Making the book for Polo Grounds in April and May, if demand warrants—to give participants a after the movie budding music mogul Bryan chance to taste the difference like a lot of publishers, St. Leach is shopping for a branch between foods made with and Martin’s Press has been looking office in Atlanta for his newly without the soon-to-be-forbidden for new ways to market books— minted Polo Grounds Music ingredients. and it just found one with the label, a unit of Sony BMG. Students will sample French upcoming teen movie Penelope, Weiser is pleased to announce that The satellite location will be fries, fried chicken, which stars Christina Ricci as a his first step in building a hip-hop tarte Tatin (a young woman born with a pig’s roster from scratch, says Mr. French apple snout for a nose. Reese Leach, who’s following in the tart) and Witherspoon, who is one of the footsteps of other New York-bred other producers, co-stars. Martin J. labels, including Bad Boy and Def foods Last week, St. Martin’s signed Jam, that have opened offices in prepared children’s book author Marilyn Kaye the Southern city to tap its with a to write a novel based on the

Lieberman istockphoto has joined as a partner. thriving music scene. variety of fats. movie, which will open in 1,500 Mr. Leach says he’s close to The idea for the class was born theaters April 13. Books for signing his first artist—from out of a cooking experiment that teenage girls have been among the Atlanta, of course. the school did for The New York industry’s few growth areas in New York City Mr. Lieberman possesses more than The executive, who is also Times, which published a story recent years. 135 West 50th Street senior vice president of urban Dec. 11 on how dishes prepared “The movie has a really good New York, NY 10020 30 years of experience providing Tel 212.812.7000 accounting, tax, and business valuation music for RCA Music Group, has with trans fats compared in taste story line and a really good Fax 212.375.6888 a track record in the South. As and texture with those made using message for girls,” says Jennifer services. Mr. Lieberman has served clients head of A&R for TVT Records, other fats. Weis, executive editor and manager Long Island in a broad range of valuation assignments, 3000 Marcus Avenue his credits included signing “Maybe in the future we’ll offer of concept development at St. Lake Success, NY 11042 including shareholder dissent suits, Atlanta star Lil Jon,the “King of a course called ‘Foie Gras,Trans Martin’s. Tel 516.488.1200 contract damage claims, divorce, and tax Crunk,” and turning that hip-hop Fats and Chilean Sea Bass,’” quips The publisher plans to rush Fax 516.488.1238 disputes. Mr. Lieberman’s focused expertise subgenre into a national craze. He ICE founder and owner Rick the paperback into stores a few Westchester plans to take a similar regional Smilow, speaking of the current weeks before the film release 660 White Plains Road primarily encompasses estate and trusts Tarrytown, NY 10591 tax matters, valuations of closely held approach as he signs acts for Polo crop of controversial foods. in the hope that the book finds an Tel 914.333.0555 businesses, technology-based growth Grounds. Though the trans fat seminar audience, no matter how the Fax 914.333.0556 “I’m planning to be out there may not be quite as popular as movie does. “I’m trying to companies, medical instruments and New Jersey on the road all the time,” Mr. Tuscan cooking instruction, Mr. make the book as much of a 399 Thornall Street biotech companies, and service companies. Leach says. Smilow says that he expects the book as it can be and not just a Edison, NJ 08837 curious to sign up. novelization,” Ms. Weis says. ■ Tel 732.549.2800 Weiser's Business Valuations Group Fax 732.549.2898 provides appraisal services of equities Deconstructing www.weiserLLP.com of closely held companies and other MORE PARTY, LESS PUSHING intangible assets. the fat dilemma before trans fats are banned DON’T WANT TO FIGHT CROWDS to watch the ball drop in Times Square? forever from the Big Apple, the Try the Tribeca Grand Hotel, which is re-creating the famous event with a ball For more information, contact Institute of Culinary Education of bulbs suspended over an eight-floor atrium. Other hotel alternatives: Martin J. Lieberman, CPA/ABV, ASA Weiser LLP is offering a tasting of foods Soho Grand Black & White Masquerade Ball Certified Public Accountants at 212.375.6558. prepared with the artery- clogging substances. Hudson Hotel Guest appearance by Christina Aguilera The school will offer a $90 Hotel Gansevoort Rooftop Retreat Package class, “Trans Fats and the gettyimages 6 | Crain’s New York Business | December 18, 2006 May your holidays be filled with joy.

conEdison

www.conEd.com ©2006 Consolidated Edison Company of New York, Inc. Ad: Arnell Inc. Ad: Group York, ©2006 of New Consolidated Edison Company NEIGHBORHOOD JOURNAL ‘Affordable’ unattainable in Queens

spect—affordability. Queens residents—including most thor of the report. “But the makeup Queens West project Queens West, the largest mid- civil servants—can’t pay such rents. of households within Queens is not out of reach for most; dle-income housing complex to be The study found that the median at the [project’s minimum] levels.” built in the city in 30 years,is expect- household income in the borough Such conclusions undermine S.I. seeking ways ed to bring 5,000 rental units to a was $45,000 in 2005, while the me- Mayor Michael Bloomberg’s expec- 24-acre site on the East River. The dian incomes for police officers, fire- tations for Queens West.He said re- to vary business mix apartments are targeted at families fighters, and education workers were cently that the development would with income of $60,000 to $145,000 all less than $56,000—below Queens “provide much-needed housing for lans to build an af- a year. Rents would be $1,200 to West’s minimum requirement. the real backbone of our city: our fordable housing com- $2,500 a month. “There’s definitely a need for teachers, nurses, police officers.”

plex on the Long Island A recent study by the Pratt Cen- middle-income housing,” says The Pratt Center, which works jennifer chiu City waterfront may fall ter for Community Development, Marnie McGregor, a senior policy with the Queens for Affordable short in an important re- however, says that over 60% of analyst at the Pratt Center and au- Housing Coalition, is in talks with the city’s Department of Housing P Preservation and Development to address the needs of the borough’s low-income residents. In its report, the center proposes that 50% of the units at Queens West be affordable New York is a world-class city. to households earning less than the borough’s median income and that Shopping. 20% be affordable to those earning less than $25,000. Dining. An HPD spokesman calls the Pratt report shortsighted. Health care. “Queens West should be seen in the overall context of the mayor’s housing plan, in which 75% of units With HIP, world-class health care is now affordable. are going to low-income families,” he says. Additionally, the lower in- come limit is for a family of four, he says. A comparable requirement for a single resident would be $39,700. —kira bindrim Staten Island’s 2020 plan for most of this decade, a regu- lar stream of callers dialed up the Staten Island Economic Develop- ment Corp. to ask for help finding office space. But the phone stopped ringing about a year ago. The shift has left complexes like the Teleport with hundreds of thou- sands of square feet of empty space. At the same time, road-clogging shopping malls that offer low-pay- ing jobs continue to proliferate. “Staten Island’s heading in a di- rection of being over-retailed,” says SIEDC Executive Director Cesar Claro. “We believe we’re on the wrong track in terms of having a di- verse local economy.” Rather than watch the borough become a tangle of Targets, town- houses and traffic, SIEDC is taking action. It recently hired Jonathan Bowles,director of the Center for an Urban Future, to do a five-month study on what the borough would look like if trends continue. “Staten Island 2020” will also detail what must be done in the next five years to boost light manufacturing and other nonretail activities. The study comes not a moment There’s nothing like living and working in New York. That’s why HIP offers you and your too soon. Not long after Mr. Bowles employees world-class health care at very affordable rates. HIP has partnerships with leading began, the International Speedway hospitals and physician group practices throughout the New York metro area. So, you can Corp. abandoned its effort to build a choose from 25,000 physicians and other health care professionals in 41,000 locations. HIP also Nascar race track and retail complex on the South Shore. That came on offers plans with new, enhanced benefits packages featuring free eyeglasses, gym membership the heels of a proposed Wal-Mart reimbursements, alternative medicine and massage therapy. Call to learn more. falling victim to civic opposition.

® “The way it went down sent a FOR MORE INFORMATION, CALL 1-888-447-7864 OR VISIT HIPUSA.COM message that the borough is closed for business,” Mr. Claro says. “It’s a very scary message.” A recent 90- minute meeting with small business ® 2006 HIP Health Plan of New York leaders only reinforced that view. —erik engquist

8 | Crain’s New York Business | December 18, 2006 THE WEEKS AHEAD

THIS WEEK’S EVENTS networking lunch. 1:00 p.m. to 3:00 [email protected]. Ave., third floor. Fee: $15 members, $20 12:30 p.m., 350 Seventh Ave. Fee: $75. DECEMBER 19 p.m., Palm Too, 840 Second Ave. Fee: JANUARY 10 nonmembers. (212) 439-1056 or (917) 441-9740 or Queens Economic Development Corp. $39.90 members, $49.90 nonmembers. American Business Media holds [email protected]. [email protected]. holds seminar on accessing capital. 6:00 (718) 625-1369 or program on building brands through JANUARY 24 p.m. to 8:00 p.m., Queensborough Hall, [email protected]. custom media. 8:30 a.m. to 10:30 a.m., JANUARY 22-28 Society for Marketing Professional 120-55 Queens Blvd., fourth-floor Scholastic International, 557 Broadway. JANUARY 22 Services, New York, holds breakfast penthouse, Kew Gardens. Free. JANUARY 8-14 Fee: $75 members, $95 nonmembers. Face to Face Networking holds program on transportation in the Registration required. (718) 263-0546 or JANUARY 9 (212) 661-6360, ext. 3337, or networking reception. 6:30 p.m. to 9:30 Northeast. 8:00 a.m. to 10:00 a.m., Penn [email protected]. New York City Business Networking [email protected]. p.m., Mustang Harry’s, 352 Seventh Club, 30 W. 44th St. Fee: $65 members, DECEMBER 19 Group holds networking reception. 6:00 JANUARY 11 Ave. Fee: $35. (718) 757-6933. $85 nonmembers. (212) 354-5656. Seedco holds restaurant management p.m. to 8:00 p.m., Stone Creek, 140 E. Women in Housing and Finance Inc. JANUARY 22 workshop. 1:30 p.m. to 3:30 p.m., 27th St. Free. (212) 471-8456 or holds program on affordable home Career Counselors Consortium holds JANUARY 29-FEBRUARY 4 Department of Small Business Services, [email protected]. ownership. 6:00 p.m. to 8:00 p.m., workshop on career success. 7:00 p.m. to JANUARY 30 110 William St., seventh-floor JANUARY 10 Washington Mutual Bank, 589 Fifth 8:30 p.m., St. Jean Baptiste Church, Women’s Venture Fund holds course on boardroom. Free. (212) 618-8862 or Pace University’s Small Business Lexington Avenue at East 76th Street, making your company No. 1. 9:00 a.m. [email protected]. Development Center holds workshop More meetings online at basement hall. Fee: $5. (212) 980-2526. to 8:00 p.m., 545 Eighth Ave., 17th DECEMBER 19 on business planning. 5:30 p.m. to 7:30 www.newyorkbusiness.com JANUARY 23 floor. Fee: $275. (212) 563-0499 or Metro New York Toastmasters Club p.m., 163 William St., 15th floor. Free. Click on “Events” Sobelsohn School holds course on how [email protected]. holds workshop on public speaking. 6:15 Space is limited. (212) 618-6655 or to become a notary public. 9:30 a.m. to —adrianne pasquarelli p.m. to 8:00 p.m., Time & Life Building, 1271 Sixth Ave., second-floor conference room. Free. (212) 581-9468 or [email protected]. DECEMBER 19, JANUARY 24 Women’s Venture Fund holds customer service training programs. 6:30 p.m. to 8:30 p.m., 545 Eighth Ave., 17th floor. Fee: $65. (212) 563-0499 or [email protected]. DECEMBER 20 Business Network International holds networking breakfast. 6:45 a.m. to 8:30 a.m., Benjamin Steakhouse, 52 E. 41st St. Fee: $15. (347) 529-6349 or [email protected]. DECEMBER 20 Lawrence N. Field Center for Entrepreneurship at Baruch College holds workshop on franchising. 6:00 p.m. to 8:00 p.m., 55 Lexington Ave., room 2-140. Free. (646) 312-4780 or [email protected]. DECEMBER 20 Action International of NYC holds workshop on running a business. 6:15 p.m. to 8:30 p.m., 989 Sixth Ave., fourth floor. Fee: $30. (646) 862-1710 or [email protected]. DECEMBER 25-31 DECEMBER 28 Power Networking Business Series holds information session. 5:00 p.m. to 8:00 p.m., Baton Rouge Restaurant, 458 W. 145th St. Free. (212) 413-9554 or [email protected]. JANUARY 1-7 JANUARY 2 South Bronx Overall Economic Development Corp. holds business seminar. 6:00 p.m. to 9:00 p.m., 555 Bergen Ave., third floor, Bronx. Free. (718) 293-7780 or [email protected]. JANUARY 3 New York Designs and City University of New York hold course on solving entrepreneurial challenges. 6:00 p.m. to 9:00 p.m., 45-50 30th St., seventh floor, Long Island City, Queens. Fee: $160. (718) 663-8403 or [email protected]. JANUARY 4 New York Society of Security Analysts holds forum on the market forecast. 11:30 a.m. to 2:00 p.m., 1177 Sixth Ave., second floor. Fee: $75 members and $115 nonmembers if preregistered by Dec. 28; additional $25 thereafter. (212) 541-4530, ext. 40. JANUARY 7 Networking for Professionals holds

TO LIST YOUR EVENT

Crain’s lists business meetings online and includes them in the print edition on a space-available basis. Events in New York City with admission fees of less than $300 are considered for the print publication. Listings can be submitted only through the Crain’s Web site. To submit a calendar listing, go to www.newyorkbusiness.com and click on “Events.” Sponsors have a choice of several free or paid list- ing options. All business events will be posted online within two business days. Crain’s can neither confirm receipt of listings nor say if or when event listings will appear in the print edition.

December 18, 2006 | Crain’s New York Business | 9 VIEWPOINT A plan to spur housing in NY editor in chief Rance Crain vice president, publishing director efore city council members vote to City Council Speaker Christine Quinn have agreed to cap Alair Townsend overhaul the popular 421-a property tax the benefit for units selling for more than $650,000. Their publisher Jill Kaplan break this week, they should take a good compromise bill would require that 20% of the units in 421- EDITORIAL long look at the chart below.The number of a projects in virtually all of Manhattan, a large portion of editor Greg David managing editor Richard Barbieri housing units started annually in New York Brooklyn and a swath of the Queens waterfront be set aside projects editor Cynthia Rigg has doubled since 2000, in part because of for low- and moderate-income New Yorkers. It would also deputy managing editors Valerie Block, Erik Ipsen the benefits create a $400 million fund to finance affordable housing in senior reporters Aaron Elstein, provided to developers by 421-a. the rest of the city. But it would continue to offer the tax Lisa Fickenscher, Matthew Flamm, If the council eliminates the break without Tom Fredrickson, Samantha Marshall, B Anne Michaud, Miriam Kreinin Souccar incentive, fewer apartments will restrictions in the rest reporters Barbara Benson, Elisabeth Butler, Many new Erik Engquist, Amanda Fung, Hilary Potkewitz, be built in this housing-starved of the city, because it is Julie Satow, Gale Scott city. projects need the a crucial incentive for restaurant critic Bob Lape art director Steven Krupinski Many of the key players in the builders. deputy art directors Carolyn McClain, 421-a debate have lost sight of 421-a incentive An alternative Daniel Mednick some fundamental points.The championed by council staff photographer Buck Ennis to be viable copy desk chief Wendy Zuckerman tax break, which essentially members David Yassky copy editors Michele Arboit, Leslie Jay, reduces property taxes on new and Annabel Palma Thaddeus Rutkowski research editor Denise Southwood units for at least 10 years, was would mandate that associate research editor instituted in the 1970s in a developers throughout Adrianne Pasquarelli www.NewYorkBusiness.com desperate bid to spur residential the city set aside 30% of their units for lower-income online editor Catherine Tymkiw

construction. In the 1980s, it jennifer chiu people and would slash the apartment price cap further. Its online reporter David Jones was amended to require that developers in most of proponents are wrong about the economics of housing in EDITORIAL AND ADVERTISING OFFICES 711 Third Ave., New York, NY 10017-5806 Manhattan build affordable units to qualify.The program the city. Many new projects outside the wealthiest areas editorial: 212.210.0277 Fax 212.210.0799 has accomplished both goals, bolstering the housing stock need the tax break incentive to be viable, and developers advertising: 212.210.0259 Cable craincom nyk and fueling the creation of affordable housing.The city says simply can’t afford to subsidize a third of their units. Fax 212.210.0499 that 110,000 apartments have been built under the program, Interestingly, the real estate industry opposes the plan Entire contents ©copyright 2006 Crain Communications Inc. All rights reserved. and thousands of those have been for low- and moderate- from the mayor and the speaker, claiming that the ®CityBusiness is a registered trademark of MCP income people. compromise bill is too onerous and will deter developers. Inc., used under license agreement. Regrettably, the tax break has also benefited some There may be some truth in their argument. But the Yassky- TO SUBSCRIBE: Call 888.909.9111; fax 313.446.6777. multimillion-dollar condominiums and served to shelter the Palma proposal is far worse, and the council intends to $3.00 a copy, $59.79 one year, $109.79 two years. rich from their fair share of property taxes. choose between the two bills this week.The council should www.NewYorkBusiness.com To end 421-a abuses, Mayor Michael Bloomberg and support the Bloomberg-Quinn plan. ADVERTISING AND MARKETING advertising director Vanessa Cognard business development manager Robert N. Grossman account executives Andrew Carlin, Holly A. McKeown, Derek Reese, LETTERS TO THE EDITOR Jennifer Siniscalchi, William E. Squitieri, Brigitte Stieglitz western account manager Ellen Mazen (Los Angeles) 323.370.2477 classified sales manager John Gallagher No shortage of skilled tech workers newsletter product manager Catherine Evans Gittens sales coordinators Lulé Haznedari, HIGHER PAY RELEVANT INSTRUCTION to appropriate career paths. citizenship, since Australia was Anita Perrino WOULD SOLVE PROBLEM FOR ALL STUDENTS and is a strong supporter of the credit Pat Grondziak 313.446.6082 jack marcellus sr. marketing director MJ Snyder an analyst in the Dec. 4 story the same problems troubling Director war in Iraq.The entire process, marketing assistant Jill H. Bottomley “Rare species: tech workers’’ claims young college students (“CUNY’s Career Choice from the first submission of my assistant circulation manager that “companies that can’t find new lesson plan,’’ Dec. 11) are application to Naturalization, was Michael Holowchuk skilled workers will continue to go having devastating effects on high BETTER CHANCE about five months. Many have internet director Marc Minardo overseas.” What he school students: the FOR CITIZENSHIP been waiting for five years or even NEW YORK PRODUCTION really means to say is inability to manage time, 15 years. production and pre-press director that companies that physical and cognitive as an expatriate of Australia I have many friends who are Michael Corsi can’t find inexpensive barriers to learning, the who has gone through the H1B expats from France who have advertising production manager skilled workers in the inability to process visa, green card and citizenship married Americans. But the Marilyn DeMilta United States will information in a timely, process, I have no doubt that the number of times the INS has PUBLISHED BY CRAIN COMMUNICATIONS INC. continue to go efficient manner, and Immigration and Naturalization “misplaced” or “lost” their files or chairman Keith E. Crain overseas. financial demands to Service profiles its candidates forced them to go to INS offices in president Rance Crain There’s no such earn for family and self. (“The great visa chase,’’ Dec. 11). boroughs outside where they lived secretary Merrilee Crain thing as a worker Numbers can be very As an Australian, I have no has been incredible! All because treasurer Mary Kay Crain executive vp, operations William Morrow

shortage or a skills buck ennis misleading. My five doubt that I was given preferential France opposed the war. senior vp, group publisher Gloria Scoby shortage.There is a JACOB PECHENIK is hiring years as a service treatment when I applied for benjamin s. woo shortage of alert provider and training group vp, technology, circulation, for YellowJacket Software. manufacturing Robert C. Adams managers who facilitator lead me to vice president/production & understand that believe the picture is manufacturing David Kamis increasing compensation levels more bleak than the provided WHAT’S COMING UP IN CRAIN’S? corporate circulation director Patrick Sheposh will make quick work out of any numbers might indicate. Crain’s 2007 Small so-called worker/skills shortage. Hopefully, a leader will emerge founder G.D. Crain Jr. (1885-1973) Increased compensation will also with energy and power who will Book economic business chairman Mrs. G.D. Crain Jr. (1911-1996) raise living standards and generate embrace the idea of relevant of Lists outlook report a hefty amount of good will. instruction for the purpose of Dec. 25 Jan. 1 Jan. 8 bob makarowski guiding and connecting students

10 | Crain’s New York Business | December 18, 2006 Small companies are financially unable to self-insure, and therefore pay the cost of these dictates. The Q. GGK’s Slogan is… arrangement is counterintuitive. “Quality Companies Are Attracted To Us” Those least able to pay are forced to bear the largest burden. In your view, why are quality companies If the governor goes along with attracted to Goldstein Golub Kessler LLP? the bill, Timothy’s Law will be the 43rd health insurance-related man- date passed in New York. The “A quality company is knowledge- previous 42 have added $1,066 a A. year to the cost of family health in- able about the business issues surance, according to a study by the important to its clients so that they Employer Alliance for Affordable can rely on the advice they provide. Health Care. Some requirements make sense, We are knowledgeable about the like maternity coverage. Some meet financial and audit-related needs the needs of small groups of pa- of our clients, and they have Terry Turner, CPA tients, such as the one covering Partner payment for fertility treatments. relied on us for this advice for over 42 years.” 212.372.1214 And some are payoffs to providers [email protected] that give large campaign contrib- utions to Democrats in the Assem- To learn more about our commercial audit services for bly and Republicans in the Senate; privately-held companies, our specialized services for most notably, chiropractors suc- SEC reporting companies, hedge funds, broker-dealers, john h.john howard ceeded in forcing insurers to cover and not-for-profit organizations, or to request a brochure, their services. call me or visit our website, www.ggkllp.com. The result is that some employ- ers can’t afford to keep providing health insurance, which is in large GOLDSTEIN GOLUB KESSLER LLP The big picture measure why more than 3 million Certified Public Accountants and Consultants New Yorkers—many with full-time SM jobs—aren’t insured.Timothy’s Law Quality Companies Are Attracted To US would be the most expensive man- 1185 Avenue of the Americas Suite 500 New York, NY 10036-2602 on Timothy’s Law date ever,raising premiums as much Tel 212 372 1800 Fax 212 372 1801 www.ggkllp.com as 3%. If a 1999 study is right, ast week, the Legislature gave final approval 90,000 New Yorkers would lose their coverage. to a bill that will require health insurance pol- I know the problems that a lack icies to cover mental illness the way they do other of adequate insurance brings. My sicknesses. family’s mental health coverage I am the father of a mentally ill 14-year-old, used to be hopelessly inadequate. Provisions for outpatient care have Lso you might think I’d be a fervent supporter of what is called improved, but we still worry about Timothy’s Law. But I’m not. I urge Gov. George Pataki to veto the need for hospital stays, be- cause my policy allows only 30 days the bill, because man- The law is intended of coverage. I breathe a sigh of relief dates like this help some to encourage compa- each month that goes by without people at the expense of nies to offer health in- our having to resort to inpatient others. Here’s why. surance and pensions treatment. We are pleased to announce the promotion of My company doesn’t by eliminating their Some families will benefit from buy insurance to pro- need to comply with Timothy’s Law. Others will suffer, vide health coverage; different rules in many because they will now have no it pays the bills itself. states. Virtually all health insurance at all. We don’t Like most companies midsize and large busi- need the Legislature and the gover- that operate in several nesses in New York self- nor to make decisions about which states, it does so in or- insure. Like my com- illnesses to favor based on political der to take advantage GREG pany, they can ignore clout; rather, we need someone in of a federal law known DAVID mandates from Al- Albany to take a comprehensive as Erisa. Under the law, bany.They offer mental look at how to provide affordable states may not regu- health coverage that health care to all New Yorkers. It’s a late employee benefit plans,only in- meets their ability to pay and the re- tough task that no one has been will- surance contracts. quirements of their workers. ing to shoulder. Alan Napack

CRAIN’S ONLINE POLL WHAT SHOULD BE THE TOP PRIORITY IN PREPARING FOR NYC’S PROJECTED POPULATION GROWTH SPURT? to Senior Director MAYOR MICHAEL BLOOMBERG faces an Build new 7% Implement uphill battle if he wants New Yorkers to seri- power .10% congestion pricing plants . 6% Reduce ously consider his plan for a 25-year effort emissions None of . to add housing and rebuild infrastructure. 2% Attend to parks these . www.cushmanwakefield.com A majority of the 358 respondents to a measures .57% and playgrounds is a high 18% Crain’s online poll say his prediction that priority; the . All of these growth measures are the city’s population will swell to 9 million estimate is high priorities people by 2030 is overstated. overstated

For this week’s question: Go to www.NewYorkBusiness.com/poll to have your say.

December 18, 2006 | Crain’s New York Business | 11 Housing bill middle ground? SEN. SMITH Moving to the middle in an effort to win a strong STATE SEN. MALCOLM SMITH (right), who is moving in as THE INSIDER majority for their compromise leader of the outnumbered Senate Democrats, is by Erik Engquist and Anne Michaud proposal to change the 421-a embarrassed by his unadorned office. He knew that Sen. property tax break, Mayor Michael David Paterson was leaving—to be sworn in as lieutenant Bloomberg and City Council governor next month—but he didn’t know exactly when. So Speaker Christine Quinn have the walls are bare when a visitor arrives. increased a planned affordable The walls serve as a symbol of the fundamental transition Mayor plans housing fund by a third, to occurring in Albany. Mr. Smith, 50, a lifelong Queens Catholic, $400 million. is taking over when, for the first time in 12 years, the governor for next 25 years The compromise bill requires will be a fellow Democrat. That will give the minority leader of the money to be spent outside the the Senate far more clout than his predecessor, says Manfred Ohrenstein, who so-called exclusion zone, where ayor Michael Bloom- held Mr. Smith’s job when Democrat Hugh Carey was governor. developers must build on-site berg (right) says that Also, the growing Democratic registration in New York and the pending affordable housing to get the tax New York City will add break. In addition, half of the retirement of several long-serving Republican senators make it likely that M Democrats can win the four seats they need to install Mr. Smith as the almost 1 million people in the next money must be spent in the poorest majority leader as soon as 2008. 25 years. Rather than tell the 15 districts in the city.That provision is intended to allay Ever since he won the job in a surprise victory, he’s been saying, “Now is citizens what he intends to do concerns that the Bronx, which has the time.” about it, he wants their opinions. benefited the most from the current There’s no doubt he’ll be a departure from his intellectual, liberal City Hall is scheduling an 421-a program, would be predecessor. He relies on old-fashioned political tools such as personal calls intensive series of meetings to shortchanged under the new law. to supporters’ homes to wish them happy holidays, and he’s clearly middle- The compromise bill also says that of-the-road. Mr. Smith’s priorities are improving the state’s business climate, gather community input for only 5% of affordable units can go reforming Albany and securing more money for New York City schools.

PlanYC, a planning project spencer tucker/cityhall.nyc.gov to families with more than 60% of A former real estate developer, he attended Fordham University and the median income. earned an M.B.A. from Adelphi University. He was a district director for former the mayor announced last week to a price tag for the enormous A more radical proposal, which Rep. Floyd Flake, a City Hall aide to former Mayor Ed Koch and an advance address future infrastructure, undertaking. One component will requires on-site affordable units in man for Geraldine Ferraro’s national campaign. transportation, housing and open be an estimate by the Department every qualifying project, has gained City Councilman Leroy Comrie introduced Mr. Smith to his wife. They space needs while protecting the of Environmental Protection that support in the council. A vote is have two children and send them to Catholic schools. environment. Administration the city’s 100-year-old drinking expected this week. “Everybody wants the same thing—to live in a safe neighborhood, to raise officials say they will meet with water delivery system needs a family, to have the business they’re working in continue to thrive, to not be community boards, neighborhood $40 billion worth of repair and overtaxed,” Mr. Smith says. “At the end of the day, I want my report card to and civic leaders, religious leaders construction. Commissioner Emily Voting law change show how well I’ve moved my conference to the center.” and advocacy groups to gather Lloyd has submitted that estimate to ap images public response. In addition, City the mayor’s office as part of DEP’s could boost Dems Hall is planning a series of town wish list, but a final figure won’t be new federal and state laws could complete their ballots, says 1,000 students. But CUNY needs hall meetings, and it has set up a agreed upon until the city budget hurt Republican state senators in elections consultant Jerry Skurnik of funding through the mayor’s Web site to take comments at process concludes in June. In 2003, 2008.The rules require new voting Prime NY.That could boost totals commission on poverty. nyc.gov/html/planyc2030. A DEP began a $16.5 billion, machines to reject ballots if any for Democratic state Senate “We are keeping our fingers brochure describing PlanYC will be 10-year project to repair the leaky races are left blank, unless the voter candidates when Democratic voters crossed amid encouraging signals,” inserted in newspapers. Delaware aqueduct, which carries pushes an override button. More turn out in big numbers for the says a CUNY spokesman. The mayor declined to spell out half of the city’s water. voters will be encouraged to presidential election. In past presidential years, about 30% of voters failed to complete No traffic signal their ballots.The measure could also add votes for down-ballot from Spitzer Republicans, such as Rep. Vito traffic congestion in Fossella of Staten Island, in areas Manhattan costs $13 billion a year, where GOP turnout is high, according to a recent report. Skurnik says. Nonetheless, Eliot Spitzer won’t endorse the report’s proposal for the city to seek federal funds to Hat in ring study solutions. “It’s not something Eliot is for comptroller currently considering,” his chief assemblyman William Boyland spokeswoman says. Jr., D-Brooklyn, has decided to run One measure, a fee for driving for city comptroller in 2009. He into Manhattan’s business districts, plans to open a campaign account requires state legislation, so Mr. in January and hold a fund-raiser Spitzer’s support would probably be the following month. He is the son needed. of former Assemblyman William “An objective look at options for GPS SHOES. “Frank” Boyland and serves on the managing scarce city road space has Banking Committee. to be undertaken sooner or later,” The family has been a force in says Jon Orcutt, executive director Brownsville and Bedford- of the Tri-State Transportation Stuyvesant, although the Campaign and a Spitzer transition assemblyman’s sister and father team participant. Sooner is better, have suffered three consecutive he adds. ■ election defeats. CUNY promotes new course after a meeting last week, CUNY officials are hopeful that Mayor Michael Bloomberg’s office will support their bold plan to improve community college graduation rates.The program, GOT A SMALL BUSINESS IDEA? which would consolidate classes Make it happen. Download our free software at into specific parts of the day and provide more mentoring and job

support, would initially enroll about istockphoto

12 | Crain’s New York Business | December 18, 2006 REAL ESTATE DEALS Financial firms playing musical chairs on Wall St. their niche in the digital printing Wasserberger, a Last tenant leaves business by specializing in produc- broker at Jones 95 Wall for nearby ing and delivering blueprints and Lang LaSalle other construction documents. who represented building; SoHo “We basically took a traditional the tenant. gets Frenchified printing business and added a lot of “When space on software,” says Steven Harford. the fourth floor Business is so good that the opened up, it was he last tenant re- brothers’ company, AEC Repro- logical that they maining at 95 Wall St. graphics,needed more space to han- expanded within has found a new home dle the high volume of orders. The that envelope of across the street. First Harfords recently signed a seven- 230 Park Ave. space.” Investors Management year lease for 11,100 square feet at Swiss Re and TCo. will move next summer into 42 W. 39th St., between Fifth and ING Investment Management are a 28,000-square-foot office that Sixth avenues. among the other tenants. takes up the entire fourth and part of The company will nearly double —julie satow the fifth floor at 110 Wall St.The ask- its workspace when the operation ing rent at moves from its current location, at the building, West 37th Street between Eighth Another flagship which is at and Ninth avenues, in February. all the best people are getting on the grid Front Street, Adams & Co. represented both landing downtown is $35 a the tenant and landlord in the deal. french fashion firm Cotélac has square foot. The landlord,44 West 39th Associ- selected SoHo as the spot for its The in- ates,approved AEC because its dig- American flagship. The Paris com- vestment ad- ital operation doesn’t use the large, pany recently signed a 10-year lease visory firm, noisy machines that traditional for 2,500 square feet at 92 Greene St., which had a printers do. between Prince and Spring streets. sublease with “We would not have considered The shop will stock Cotélac’s J.P. Morgan a press printer,” says David Levy,an pants, tops and coats when it opens Chase at 95 Adams broker who worked on the in the spring. 110 Wall St. Wall St., was deal. Asking rent was $125 a square “The women they try to target left behind foot for the 3,200-square-foot are 35 to 50 years old,” says Eric Le when the investment bank struck a ground floor. The site includes a Goff, the Cushman & Wakefield seasons greetings from the skygrid building deal with landlord Joseph Moinian 2,000-square-foot mezzanine and Inc. broker who negotiated the deal to vacate the building. 5,900 square feet of basement for Cotélac. “They are sort of Tory “It was all about the timing, be- space. Burch en français,” he says. This holiday season, Silverstein Properties THE cause we had to sign a lease for the —elisabeth butler The SoHo store will be Cotélac’s is celebrating the introduction of The SkyGrid Building, at 575 Lexington Avenue. skygrid new office space practically on the first corporate-owned location in BUILDING same day we signed a termination the United States. Two licensed Soon to feature a dramatic new entryway on our lease at 95 Wall so that the Japanese insurer shops already operate in the Chica- and lobby, gleaming exterior, upgraded tenant wasn’t stuck without an go area. elevators, and state-of-the-art connectivity. 575 grows on Park Everything, in fact, that you would expect at office,” says Marc Shapses, a broker The landlord was pleased to land one of Midtown’s hottest new addresses. For at Studley who represented First a tokyo-based insurance company Cotélac for the new building.Japan- information on full and partial floor availabil- LEXINGTON AVENUE Investors. is expanding its presence on Park ese fashion firm Evisu also signed a ities, please contact Catherine T. Giliberti, The pace of office leasing in low- Avenue. Tokio Marine Manage- lease at 92 Greene recently. Roger A. Silverstein, or Stuart A. Christie at er Manhattan has accelerated re- ment signed a 10-year lease for an “There’s no question that Greene (212) 732-9700. cently. At 110 Wall, only two units additional 14,000 square feet at 230 is the [main] corridor in the interior

are still available: 11,000 square feet Park Ave., bringing its total space of SoHo,” says Christine Emery, a silversteinproperties.com on the fifth floor and 5,000 square there to 69,000 square feet. broker at The Lansco Corp., who feet on the ninth floor. Tokio Marine now occupies the negotiated the deal on behalf of 92- “We’re delighted that yet anoth- entire second and third floors, as 94 Greene Street Holdings. er prestigious financial services firm well as part of the fourth floor. The Asking rent was $225 a square has chosen 110 Wall St. as its new asking rent on the lower floors of foot. home,” says William Rudin, presi- 230 Park, between East 45th and —elisabeth butler dent of landlord Rudin Manage- East 46th streets, is $60 a square ment Co. Other tenants include foot. Unisys Corp. and Teamsters Local “This was the last bit of contigu- Union 210. ous space available to them,” says —julie satow Craig Panzirer, director of leasing for Monday Properties, who repre- Crain’s 2007 Agenda for sented the landlord. New York will be one of the Digital printer “Tokio Marine has its own most talked about reports fills out space building within the larger building, GALLIC STYLE: Cotélac has with its own elevator and entrance” two licensed shops in Chicago of the year! And the perfect steven and scott harford found at 71 Vanderbilt Ave., says Cynthia and picked SoHo for flagship. place for your advertisement.

Read about Moinian Group’s condominium plans for 95 Wall St. @ www.newyorkbusiness.com/95Wall CRAIN’S REPORT: AGENDA FOR NEW YORK 2007 Issue Date: January 22 REPRINTS OF CRAIN STORIES Ad Close: January 4 CRAIN’S NEW YORK BUSINESS offers reprints of the articles it publishes. The reprints can include photographs that accompany the story. To obtain an estimate of the price and the turnaround time for a reprint, please contact Lori Noffz at Reprint Management Services, (717) 399-1900, ext. 104, or [email protected]. Readers wishing to make their own reprints or to post a story on a Web site must pay $350 for the use of the Crain’s copyright; the fee for nonprofits is $195. Send a letter describing the article and how it will be used, along with a check, to To advertise, call Vanessa Cognard at 212-210-0732 Jill Bottomley at Crain’s New York Business, 711 Third Ave., New York, NY 10017. For information, call (212) 210-0282. or visit newyorkbusiness.com.

December 18, 2006 | Crain’s New York Business | 13 WEEK IN REVIEW

giant spans 41 years. ECONOMIC SPOTLIGHT Nybot traders back merger members of the New York Board of Trade overwhelmingly approved a $1.4 billion merger with Atlanta-based energy marketplace Intercontinental Exchange Inc. Options errors monster worldwide inc., after completing an internal review of its stock option grants, said it had overstated profits by $271.9 mil- lion from 1997 to 2005. … Take-Two Interactive Software Inc. said it would restate results from 1997 until April 2006. A Goldman pays dividends special committee had determined that some stock-option grants had IT’S GOOD TO WORK FOR GOLDMAN. The Wall Street firm said been dated incorrectly. it would pay out $16.5 billion in compensation this year. That sum translates into an average of $622,000 for each Café gets reprieve GOLDMAN SACHS GROUP INC. employee. Top traders and park avenue café, which was Economy Watch brokers could get $25 million bonuses. The government slated to close on Jan. 1, will remain also stands to benefit: The city is expected to get $500 open. Smith & Wollensky NYC posted its lowest jobless rate since the data-tracking series began in the million in tax revenue, and the state will gain $1.1 billion. Restaurant Group Inc. negotiated a mid-’70s. Area inflation fell, spurred by a huge 12% decline in the energy index. new 10-year lease for the 14-year- bloomberg newsbloomberg SEPTEMBER ’06 OCTOBER ’06 COMPARISON old spot, located at 100 E. 63rd St. 1 NYC jobless rate 4.5% 4.1% 4.4% Hevesi settles foreign investment in the United NYC employment change +400 -2,200 +59,1002 States when it acquired a British Lads’ mag folds NY area inflation change -0.5% -0.5% +2.4%3 probe by AG firm that controlled some blaming a slowdown in ad new york state Comptroller American ports. spending, British publishing firm 1-U.S. unemployment rate. 2-Change since December 2005. 3-Inflation rate for the latest 12-month period. Alan Hevesi, who has been under Emap said it would close the U.S. fire for using state employees to edition of FHM with the March drive his ailing wife around on CBS Outdoor issue. Emap will continue to NYC Hotel Stats Broadway Stats unofficial business, will pay more operate FHM’s Web site. than $206,000 to settle a probe by loses to rivals The daily room rate continued Attendance and gross recouped the attorney general’s office. in a blow to incumbent firm upward in October, pumping up the some of their losses in the week CBS Outdoor, the Metropolitan IBM and Yahoo average for the first 10 months of ended 12/10, The League of Amer- Transportation Authority awarded 2006 to $259.88, according to PKF ican Theatres and Producers says. In Citigroup shuffle an $823 million bus and launch search tool Consulting. The year-to-date occu- the same week last season, the fig- chief executive Charles Prince commuter train advertising international business pancy level reached 84.9%. ures were 250,100 and $19 million. (below) said Citigroup Inc. would contract to Titan Outdoor and a Machines Corp. partnered with halve its invest- $58 million billboard contract to Yahoo Inc. to create an online ment spending Van Wagner Communications. search tool for the workplace. next year to CBS Outdoor still has a bolster profits. $580 million subway contract. Earlier, Citi- United 93 group named Robert Drus- Spitzer sues UBS nabs prize kin, CEO of new york Attorney General Eliot the new york film critics Citi’s corporate Spitzer sued UBS Financial Circle awarded its Best Picture and investment newsbloomberg Services Inc. for allegedly award to United 93, which bank, chief operating officer and defrauding thousands of clients depicted the flight hijacked on charged him with cutting costs. out of tens of millions of dollars by Sept. 11 that crashed into a luring them to high-fee brokerage Pennsylvania field. accounts. UBS denied the charges. —from staff reports and J.P. Morgan’s bloomberg news reports Capital IQ’s Weekly Deals Report executive decisions Nasdaq launches TRANSACTION SIZE j.p.morgan chase & co. hired COMPANY (in millions) BUYER/INVESTOR TRANSACTION TYPE Stephen Cutler, who once headed hostile LSE bid Long Beach Acceptance Corp. $282.5 Americredit Financial Service Inc. SB M&A the Securities and Exchange Com- the nasdaq stock market Paramus, N.J. mission’s enforcement division, as formally launched its $5.3 billion Primedia Inc., $170.0 InterMedia Advisors FB M&A its general counsel. Also, J.P. hostile bid to take over the 17 outdoor titles Morgan CEO Jamie Dimon was London Stock Exchange Group, Manhattan given the title of chairman. which said the offer was too low Quickcomm Software Solutions Inc. $4.1 Starfish Ventures Pty. Ltd. GCI Manhattan and urged shareholders to take no action. Nasdaq owns about Juice Wireless Inc. $3.0 21 Ventures GCI AIG gains ports Manhattan 28.75% of the LSE. ArmchairGM $2.0 Wikia Inc. SB M&A american international Manhattan Group Inc. agreed to buy P&O Babbio retires Selected deals announced during the week of Dec. 3 for companies headquartered in metro New Ports North America, which has York. FB M&A: Financial buyer M&A represents a minority or majority acquisition of existing operations in New York and New verizon communications inc. shares of a company with the participation of a financial buyer. GCI: Growth capital investment Jersey, from ports operator DP said that its president, Lawrence represents new money invested in a company for a minority stake. SB M&A: Strategic buyer M&A represents a minority or majority acquisition of existing shares of a company without the World. Earlier this year, DP Babbio Jr., will retire by the end participation of a financial buyer. World, owned by the government of the first quarter of 2007. Mr. PROS’ PICK: New York critics named the jennifer chiu of Dubai, sparked a debate over Babbio’s career with the telecom Sept. 11 film the best movie of 2006.

14 | Crain’s New York Business | December 18, 2006 SMALL BUSINESS

TERRY TANG teamed up with his brother and went Four ethnic-food makers into the noodle business under the name Twin branch out into mainstream Marquis Inc.

makes absolute sense they would Pincow, co-owner of International After success in their flourish here.” Gold Star,a Brooklyn-based manu- communities, savvy Most began by focusing on meet- facturer of smoked fish.“They tell us ing the needs of their own commu- what their needs and wants are.” firms add products nities, but many have now expanded to broaden reach beyond classic ethnic enclaves, such TMI FOOD GROUP as the Russian area of Brighton FOUNDED 1989 Beach in Brooklyn and the Chinese EMPLOYEES 120 BY ROSAMARIA MANCINI community in Flushing, Queens. BEST SELLER Today, most reach a more main- Udon noodles, n recent years, food man- stream market across the city—and about $1.00 a pound ufacturing has become one of in some cases, across the nation. the few bright spots in the “Our food is not only about the NEWEST PRODUCT All-natural city’s beleaguered industrial Middle Eastern customer; Ameri- dumplings, $4.95 to $6.50 a sector. Today, 900-odd food cans like this kind of food as well,” pound Imakers generate $5 billion in rev- says Fawzi Qasqas, owner of TIRED OF HEARING his restaurant-own- enues and pay out $700 million in Mediterranean Dove, a thriving er brother Joseph complain about

wages to nearly 20,000 workers Brooklyn-based maker of hummus, the quality of noodles available on buck ennis every year, according to the New falafel and other dishes. the market,Terry Tang decided to do York Industrial Retention Network. Like other manufacturers in the something. Nearly 20 years ago, the products. We wanted to know what authentic recipes and the eagerness The sector is getting its biggest city, the ethnic specialists are in- young accountant teamed up with varieties were out there and how to to innovate have all paid off. push from some of the city’s newest creasingly hard-pressed by soaring his brother, and they went into the make them correctly,” says Terry “They are the real thing,” says citizens—immigrants who own or real estate costs. But the food mak- noodle business under the name Tang. Bruce Reinstein,chief operating of- patronize these companies. ers are determined to stay close to Twin Marquis Inc. Recipes in hand, the Tangs re- ficer of Fresh City,a Massachusetts- “These businesses are a natural the markets that spawned them and The Tangs traveled to Japan and turned to Manhattan and added a based restaurant chain that buys fit for New York City, due to the di- that still provide quick, valuable Hong Kong, where they immersed dash of American innovation to noodles from the food maker. “Our versity of the population,” says a feedback. themselves in the study of noodle their approach,wrapping their noo- Asian customers like the products.” spokeswoman for the city’s Indus- “Being here keeps us close to the making. dles in clear plastic instead of the By 1999,Twin Marquis was mak- trial Development Agency. “It Russian community,” says Galina “We wanted to make genuine traditional paper. The research, the See ETHNIC-FOOD on Page 16

To Gerry,

All the Partners and Staff at Goldstein Golub We wish you and your family continued success Kessler LLP join together to express our gratitude and happiness. Enjoy the fruits of all those morn- to you on this occasion of your retirement as ings when you arrived before 6:00 a.m. and stayed Managing Partner. You have taken us on an well into the night; all those meetings where we amazing, industry-changing journey over the past debated strategy and policy until you convinced us 25 years and, because of your leadership, we you were right; all those times when you made continue to reach new heights to this very day. We difficult decisions that turned out to be on target. thank you for providing the vision that guided us Your commitment to excellence and to the success to where we are today. of our clients has become a part of our DNA. Under your leadership since 1981 (which in itself You take with you our sincere appreciation for must be a longevity record), our Firm has grown helping us build the foundation that supports each to become one of the premier middle-market audit new level of achievement. firms in the country. We have gained expertise With heartfelt thanks, and experience in the industries represented by our Steven Mayer (right), diverse client base and we have acquired some of The Partners of newly-elected Managing Partner, the best talent in the country to serve our clients. congratulates Gerry Golub upon his retirement. Goldstein Golub Kessler LLP

GOLDSTEIN GOLUB KESSLER LLP Certified Public Accountants and Consultants QUALITY COMPANIES ARE ATTRACTED TO USSM 1185 Avenue of the Americas Suite 500 New York, NY 10036-2602 Tel 212.372.1800 Fax 212.372.1801 www.ggkllp.com

December 18, 2006 | Crain’s New York Business | 15 SMALL BUSINESS

gan using their authentic ingredients rael in 1997, Fawzi Qasqas thought to make more sophisticated and he had a perfect recipe for success. Ethnic-food makers expand more profitable prepared foods,such He would make the sort of hummus as salty tandoori paste—things that that was wildly popular back home. Continued from Page 15 The first customers for the com- nearly a third of total revenues, and in India would be made at home. So much for Plan A. ing 15 varieties of noodles and selling pany he grandly dubbed Gold Star the company sprawls over three “Here, our customers work and “Americans don’t like strong them across the United States. That Smoked Fish were mom-and-pop buildings in Red Hook, occupying a don’t have a lot of time to prepare In- spices, like we do, so we made it was the same year the Tangs went stores in his area. Gradually he ex- total of 30,000 square feet. dian meals, so these products help lighter and a little sweeter,” says Mr. into the dumpling business, found- panded. Today, the company offers them,” Mr. Soni says. Qasqas. ing Chef One Corp. In 2001, they 30 different species of smoked fish HOUSE OF SPICES To keep the business as real as That Americanization worked added a distribution and trading arm to buyers across the country. FOUNDED 1970 possible, House of Spices manufac- wonders. Today, Mr. Qasqas’ com- called TMI Trading. Today, all three “The Gold Star products are EMPLOYEES 280 tures its products in New York but pany, Mediterranean Dove, whips units operate under the Tangs’ um- good quality, and our customers (125 in New York) relies on a workforce that is almost up 10 different varieties of hum- brella company,TMI Food Group,in keep buying them,” says Alex Ivlev, BEST SELLER entirely of Indian and Bangladeshi mus—including one with mush- Williamsburg, Brooklyn. assistant manager at Net Cost, a descent. rooms. About a year after its found- Chickpea flour, Russian supermarket chain in “They understand the food and ing, the firm branched out by INTERNATIONAL GOLD STAR Brooklyn. $2.99 for 2 pounds what it should taste like,” says Neil making falafel and stuffed grape NEWEST PRODUCT Ginger garlic FOUNDED 1976 After it had established a loyal Soni, the son of G.L. Soni and the leaves. paste, $4.99 for 26 ounces EMPLOYEES 50 clientele, Gold Star began to do company’s vice president. Today, Mediterranean Dove BEST SELLER more in the early 1980s. FEW OF NEW YORK’S ethnic-food mak- Today, House of Spices sends its products are sold through upscale Smoked herring, “Our store owners kept asking us ers have done as well as G.L. Soni. products across the country and to stores such as Garden of Eden and for other products, and we thought His is a classic tale of turning frus- markets as far away as Mexico from Amish Market in Manhattan and $1.99 apiece it was a market we could get into,” tration into entrepreneurial inspira- its 110,000-square-foot facility in through specialty stores in New NEWEST PRODUCT Smoked says Galina Pincow, Robert’s wife tion. Flushing. It uses more than Jersey and Pennsylvania. Produc- saury, $6.00 a pound and co-owner of umbrella company Unable in his adoptive home of 600,000 square feet of warehouse tion is housed in a 10,000-square- WHEN LARGE NUMBERS of Russians International Gold Star. Queens to find the traditional lentils space. foot space in Brooklyn’s Red Hook. began settling in New York City 30 Under the name International and spices that he had grown up With his Americanized recipes, years ago, Robert Pincow saw his Gold Star Trading, the company be- with in India, the civil engineer MEDITERRANEAN DOVE Mr. Qasqas is hoping to grow his opportunity. He would provide gan importing a variety of condi- turned importer/retailer. FOUNDED 2003 business by tapping into a more them with the same sorts of smoked ments and confections from Eastern With his wife, Sobhana, and EMPLOYEES 10 mainstream clientele. fish that he had grown up with, Europe for its Russian customers.In brother,Kumar,he opened House of BEST SELLER Plain “It’s not only about the Middle courtesy of his Lithuanian parents. what Ms. Pinchow describes as a Spices, an Indian food product hummus, $1.99 for Eastern customer for us,” he says. He rented a small space in “natural evolution,” the company store, in a 1,000-square-foot space “Americans like this kind of food as 8 ounces Brooklyn and set to work pickling went on to add items to fill a need for in Jackson Heights. well, and the more they try it, the and then slow-smoking mackerel, nonethnic customers in specialty From purveyors of a handful of NEWEST PRODUCT Ready-to-fry more they like it.” herring and sturgeon, using tradi- stores and supermarkets. spices, the Sonis have expanded falafel, $3.00 a pound tional Russian recipes. Today,that business accounts for hugely. Beginning in 1975, they be- WHEN HE CAME TO New York from Is- COMMENTS? [email protected]

Dinner Chair Josh N. Kuriloff, Executive Vice President, Cushman & Wakefield, Inc., Honorary Dinner Chair Charles Borrok, Vice Chairman, Cushman & Wakefield, Inc. and St. Mary’s Healthcare System for Children thank the major sponsors of our 2006 Tribute Dinner, a Celebration for St. Mary’s Children

Visionary Sponsors Hero Sponsors Leader Sponsors Key Sponsors CB Richard Ellis ABM Industries Inc. Adco Electrical Corp. & Scholes Janice Hamilton/JMH Pfizer Inc Cushman & Electric and Communications Education Marketing Brookfield Properties Proskauer Rose Wakefield, Inc. Fried, Frank, Harris, Shriver AKF Engineers The Karetsky Group, LLC & Jacobson LLP Corporation Robert K. Futterman & D & J Ambulette Service Beacon Capital Partners MGE UPS Systems, Inc. Associates JPMorgan Chase Grubb & Ellis Cindy & Tod Johnson The Briarwood Organization Morgan, Lewis & Bockius LLP The Solaris Group, LLC Norman M. Feinberg Liberty Title Agency Comstar International, Inc. Nelson, GMS, and EEL Tri-Star Construction Kramer Levin Naftalis Tishman Speyer & Frankel LLP Newmark Knight Frank Equity Office Properties Trust Engineering Bernard Spitzer P.E./The Winter SJP Properties Vornado Realty Trust Olson Construction Organization SL Green Realty F&G Mechanical Corp. Structure Tone Inc. Forest Electric Corp. Paul, Hastings, Janofsky and Woertendyke Adjah Walker LLP Associates TPG Architecture Trammell Crow Company Your efforts helped to raise more than $700,000 for the children of St. Mary’s Healthcare System for Children

St. Mary’s Healthcare System for Children is one of the nation’s premier providers of inpatient, outpatient and homecare programs for children with special needs and life-limiting illnesses. St. Mary’s, through its family-centered programs, provides comprehensive, specialized medical care, intensive rehabilitation and support services to over 3,000 children each day in the New York Metropolitan region and beyond. 718-281-8890 www.stmaryskids.org

16 | Crain’s New York Business | December 18, 2006 CORPORATE GIVING INSIDE CEOs are less likely to give firms’ funds to their favorite charities PAGE 24 Companies let employees manage their charitable activity online PAGE 25 Volunteerism gets organized PAGE 27

Firms fail to learn from past disasters Most rely on trade groups; strategic plans rare

BY STEVE GARMHAUSEN

watching desperate victims of Hurricane Katrina stranded for days on their rooftops or huddled in squalid conditions at the Superdome convinced many corporations that a change in ca- tastrophe relief was needed. Afterward, there was much talk about the need for cooper- ation and strategic planning in advance of the next major dis- aster. But most American cor- porations are not doing things much differently than they were when the tsunami hit Asia at the end of 2004. Just reacting most companies have been slow to adopt formal disaster response plans and to coordi-

nate with charities—measures n a o l that could expedite corporate s l e relief efforts, according to Curt a ch Weeden, chief executive of the mi Association of Corporate Con- tributions Professionals. “We need to think ahead more, rather than being reac- tive,” Mr. Weeden says. In a survey released in Octo- Noncash gifts have ber by the Committee Encour- aging Corporate Philanthropy, only 29% of respondents had created or updated a readiness See FIRMS on Page 18 their own rewards STORM-PROOF Total corporate donations. Generate publicity, raise morale; tax breaks aren’t bad, either

$1. 2 billion sent a team of 10 specialists Giving products and Along with serving the needy, in cash, products BY STAN LUXENBERG and services in water and sanitation to services is becoming a big noncash grants offer advantages to the disaster area. 10 part of corporate philan- corporations. Giving products to For hurricanes when the tsunami struck Asia in “A cash gift can be cru- NUMBER thropy. In 2004, 92% of countries or regions in need gener- Katrina and Rita of specialists December 2004, Pfizer Inc. jumped cial, but there are many Pfizer sent Pfizer’s $1.2 billion in do- ates good publicity, boosts employ- into action. Within 48 hours, the times when the most effec- to tsunami nations were in noncash ee morale and helps in recruitment. $566 million pharmaceutical giant gave $10 mil- tive form of philanthropy is disaster area gifts, as were 90% of Bris- In-kind giving also carries generous in cash, products lion in cash grants to Unicef and to send products or people tol-Myers Squibb Co.’s tax advantages. and services other relief groups. with special skills,” says Paula Luff, $601 million in assistance, accord- “If a lumber company gives mon- For 2004 tsunami The company’s biggest contribu- senior director of philanthropy for ing to a study conducted by The ey to a ballet, employees won’t nec- tion, however, came over the next Pfizer. “It makes sense to structure Chronicle of Philanthropy. Other big essarily appreciate the gift,” says Source: U.S. Chamber of Commerce’s Business Civic Leadership Center several weeks when it shipped gifts so that they suit the needs of the in-kind donors included Time Margaret Coady, program manager $42 million in pharmaceuticals and people working on the ground.” Warner Inc. and Altria Inc. See NONCASH on Page 19

December 18, 2006 | Crain’s New York Business | 17 REPORT

www artstaffing.com Firms fail to learn post-Katrina Staffing, Consulting and Career Services for the International Arts Community Continued from Page 17 The plan also allows for flexibil- plan for disaster assistance. ity concerning the number and type PLANNING AHEAD TAKE OUR ONLINE ART CAREER SURVEY! A few local companies are of groups the company will support, among the exceptions. Recently,the and—in the aftermath of Katrina— Suggested changes to the current Thomas & Associates, Inc. American Express Foundation cre- it emphasizes recovery, not just im- corporate response process: 6 East 39th Street ated a comprehensive plan that, ac- mediate help. QUANTIFY the business case for New York, NY 10016 cording to foundation President Long-term assistance is an area private-sector disaster response to Timothy McClimon, lays out “who in which the Verizon Foundation is justify action and plan for future P. 212.779.7059 we’ll talk to after disaster strikes, trying to improve.“If we have a Ka- involvement F. 212.779.7096 what information we’ll gather, what trina-like situation, we’ll make sure FORM business coalitions to share www.artstaffing.com decisions will need to be made and we don’t go in on a one-time basis information, coordinate activities and who will make them.” and leave when the press is over,” evaluate progress says Patrick Gaston, the founda- MANAGE expectations so that firms tion’s president. are free to choose which causes to The telecom,which initially gave support and primary disaster nearly $11 million in corporate and responders don’t become overly employee contributions to Katrina- reliant on private-sector assistance related charities, is now providing IMPROVE business-government 20,000 books, magazines and jour- coordination so that roles and nals to Gulf Coast children. responsibilities are clear The Pfizer Foundation is focus- DEFINE success by establishing ing on increasing the number of criteria to measure the effectiveness nonprofits it supports. Though it of disaster response implemented an expedited grant Source: U.S. Chamber of Commerce’s Business NEW YORK UNIVERSITY application process after Sept. 11, Civic Leadership Center the company enhanced the process further after seeing the need in both George H. Heyman, Jr. the tsunami and Katrina disasters including contacts and descriptions for quick approval of donations to of relief organizations,a guide to de- less well-known organizations. veloping comprehensive disaster re- Center for Philanthropy sponse programs and a spreadsheet Coordinated response detailing companies’ individual do- new york life wants to help make nations in the wake of the earth- it easier for employees to donate to quake in Indonesia this spring. and Fundraising a wider range of relief organizations Locally, the New York Regional and is considering establishing a Association of Grantmakers has be- major disaster pledge site to accom- come a disaster response clearing- plish that. “We’re trying to make it house for its 270 members. It posts fast and easier, and to give people lists of relief agencies online and choices,” says Peter Bushyeager, hosts an e-mail chain that lets mem- Make a career out of making the world a better place. president of the insurer’s philan- bers harmonize their efforts. thropic foundation. Experience has shown that fund- Most companies are not devel- ing a variety of aid groups is critical oping initiatives, however, but to the success of catastrophe relief. depending on trade and business “The sheer magnitude of those groups to coordinate relief efforts. last two disasters showed that the The Business Roundtable,an as- relief efforts have to be a partnership For professionally focused fundraisers and grantmakers, as well as those interested in becoming part of this sociation of chief executives of ma- of many, many organizations,” says importantandgrowingfield,there’snomorerespectededucationalinstitutionthanNYU’sHeymanCenter.The jor corporations, has been a nation- Mr. McClimon at the American facultyareindustryleaderswithvaluableinsights,andthereal-worldexperiencetoinspirecriticalthinkingand al leader in supporting the business Express Foundation.“Some are very community’s reaction to calamities. prominent,but there are a lot of oth- analysis.Whetherit’sourMaster’sdegree,ProfessionalCertificates,workshopsorseminars,theHeymanCenter The roundtable’s newly formed ers on the ground who are in need of offersmorecoursesinmoreareasthananywhereelseinthecountry.Findoutmore. Partnership for Disaster Response cash or products.” launched a Web site in October that provides a wealth of information, COMMENTS? [email protected] Graduate Program: Graduate Information Session: • Master of Science in Fundraising Tuesday, December 12, 6-8 p.m. Professional Certificates: Marriott Marquis, 4th Floor 1535 Broadway (btwn. 45th & 46th Sts. ) • Fundraising Please call to RSVP. • Grantmaking and Foundations Nondegree Course and Certificate Information Session: Courses include: Wednesday, January 10, 6-8 p.m. • Fundraising Concepts and Practices NYU Midtown Center, 4th Floor • Annual Campaign 11 West 42nd St. (btwn. 5th & 6th Aves. ) • Grant Proposal Writing Presentations begin on time; please be punctual. • Fundraising for the Arts • Strategic Grantmaking www.scps.nyu.edu/x606 • Women in Philanthropy 1-800-FIND NYU, ext.606 • Global Philanthropy • The Law and Ethics of Fundraising Online • How to Be a Successful Fundraiser • Corporate and Foundation Fundraising

New York University is an affirmative action/equal opportunity institution. ©2006 New York University School of Continuing and Professional Studies ap images BOOTS ON THE GROUND: Companies and clearinghouse groups now stress the importance of contributing to a wide range of relief organizations, including smaller, lesser-known ones.

18 | Crain’s New York Business | December 18, 2006 REPORT

·E·G·S Health and Human Services Noncash donations F System is one of the nation’s largest HEALTH AND HUMAN SERVICES SYSTEM not-for-profit health, education and Continued from Page 17 pediatric clinic in Lesotho, a coun- social services organizations – of the Committee Encouraging try where 20,000 children have Corporate Philanthropy,a nonprof- AIDS. The drugmaker works in • F·E·G·S provides a broad network of health, it group in Manhattan. “But if the partnership with the country’s gov- We are company gives lumber to Habitat ernment and the Baylor College of career planning, training, welfare to work, for Humanity, that is something Medicine in Houston. The govern- that its employees understand and ment donated the land, while Bris- proud to be family services, education/youth development, appreciate.” tol-Myers paid for the equipment behavioral health, residential, vocational Ms. Coady says that in-kind and supplies drugs at low cost. a part of programs may be particularly rehabilitation, work services, developmental Free training effective at improving disabilities, employment, economic development morale when employees the drug company also and to work participate in the effort. asked Pricewaterhouse- and home care services. For example, Home De- Coopers to provide free pot assists KaBoom, a training in basic account- on behalf of • F·E·G·S reaches more than 120,000 individuals nonprofit that builds ing to local nonprofits in playgrounds around the Africa. “We found small our great and families each year – some 10,000 each country. The home- groups that understood day – at more than 350 locations throughout improvement chain their countries, but supplies materials they didn’t necessari- the greater New York area. and employee vol- ly have the ability to New York unteers. “The em- manage cash dona- Executive Offices: 315 Hudson Street • New York, NY 10013 ployees love it,” tions,” says John community T 212.366.8400 F 212.366.8441 www.fegs.org says Ms. Coady. It can be Damonti,president Barry K. Fingerhut Joseph Stein, Jr. Alfred P. Miller “They look for- of the Bristol-My- President Chairman Chief Executive Officer ward to using what effective ‘to ers Squibb Foun- they know to build dation. A beneficiary of a playground in send products Managing in- their community.” kind giving can be Then there is or people’ particularly diffi- the bottom-line cult in the midst of impact of in-kind Paula Luff, Pfizer a disaster. Follow- giving. The Inter- ing the Pakistan nal Revenue Ser- earthquake of Oc- vice allows compa- tober 2005, many nies to deduct the companies sought retail value of any to deliver blankets gift. So, for example, if a manufac- and other supplies but were unable turer donates cheese that retails for to move through the mountainous $10 to a soup kitchen, the company area. can deduct the full amount—even One company that succeeded in though the cheese may cost only $5 lending a hand was IBM.The com- to produce. puter company has a crisis manage- ment team that is trained to reach Tax breaks difficult destinations quickly. The “the tax advantages of giving group brings laptops and assists lo- Create your own opportunities. products are significant,” says Brad cal nonprofits in managing supplies Googins, executive director of the and locating survivors. Real success in real estate management Center for Corporate Citizenship at “Companies are learning that ® Boston College. simple cash donations will not always is yours with an IREM membership. To make their gifts more effec- do the job,” says Johanna Schneider, tive, corporations are often estab- executive director of the Partnership lishing long-term alliances with for Disaster Response,which coordi- nonprofit groups to ensure that both nates efforts by major corporations. their cash and noncash gifts go “You need to make careful plans for IREM is the single best community for real To learn more about IREM® membership, where they are most needed. responding to the chaos that always estate management professionals. Take visit www.irem.org/joinnow. As part of its $150 million cam- occurs during disasters.” advantage of the incredible privileges and paign to fight AIDS in Africa, Bris- benefi ts available to our members: tol-Myers Squibb has established a COMMENTS? [email protected] CERTIFIED PROPERTY MANAGER® • Cultivate real estate management and leadership skills with professional BIG CONTRIBUTORS development ACCREDITED RESIDENTIAL MANAGER® New York area companies that made 20% or more of their gifts in products in 2004. • Forge strong business relationships through Value of What was Percentage smart networking with peers, employers noncash gifts donated of total giving ® and clients ACCREDITED MANAGEMENT ORGANIZATION Pfizer $1,161,906,114 Pharmaceuticals 92.2% Manhattan • Gain access to leading-edge resources Bristol-Myers Squibb $601,909,558* Consumer products, 90.3% ACCREDITED COMMERCIAL MANAGER Manhattan pharmaceuticals • Affi liate with the industry leader Associate Member Time Warner $135,014,678 Cable and Internet services 71.0% Manhattan • Enjoy great prestige and credibility through Academic Member our renowned credential programs IBM $115,499,000 Computers 80.4% Student Member White Plains Altria Group $66,835,133* Computers, food 37.1% Manhattan Visit www.irem.org/joinnow and get an exclusive look AT&T $6,000,000 Prepaid calling cards 28.8% at the fi nancial rewards of IREM membership. Manhattan Unless otherwise noted, the worth of company products is based on fair market value. *Value of company products Join IREM. Create Your Own Opportunities. is based on wholesale value. Source: The Chronicle of Philanthropy

www.irem.org REPORT CORPORATE GIVING

SMALLER INCREASE IN OPERATING EXPENSES in 2006, the 25 agencies on Crain’s chart of top nonprofits increased their operating expenses by 2.1%, compared with 14.1% a year ago. Collectively, the organizations earned $5.3 bil- lion in income—65.4% of which came from private support.The Leukemia & Lymphoma Society and the Metropolitan Opera Association received all of their support from private sources. The Catholic Medical Mission Board was close behind,with pri- vate support accounting for 98.2% of its total in- come. The New York Blood Center and Medical and Health Research Association of New York City were at the other end of the spectrum. jennifer chiu New York Area’s Largest Nonprofits Ranked by 2006 total operating expenses

2006 fund-raising expenses 2006 income 2006 total 2005 total % of private % of total Chief operating operating % from % allocated support income executive or expenses expenses Total private to program Total used for used for other highest- 2006 Rank Organization Phone/Web site (in millions) (in millions) (in millions) support1 services (in millions) fund-raising fund-raising paid official compensation

United States Fund for UNICEF 2 (212) 686-5522 $358.0 $464.7 $370.3 96.2% 87.0% $26.4 7.4% 7.1% Charles J. Lyons $429,135 1 333 E. 38th St. www.unicefusa.org President, chief New York, NY 10016 executive New York Blood Center Inc. 3 (212) 570-3000 $287.9 $281.9 $338.9 1.1% 77.2% $0.3 8.1% 0.1% Robert L. Jones, M.D. $698,000 2 310 E. 67th St. www.nybloodcenter.org President, chief New York, NY 10021 executive Leukemia & Lymphoma Society Inc. 2 (914) 949-5213 $235.3 $206.7 $241.4 100.0% 70.3% $42.7 17.7% 17.7% Dwayne Howell $483,210 3 1311 Mamaroneck Ave. www.lls.org President, chief White Plains, NY 10605 executive Jewish Communal Fund 2 (212) 752-8277 $221.2 $205.1 $259.2 87.4% 84.3% $0.0 0.0% 0.0% Susan F. Dickman $221,461 4 575 Madison Ave. www.jewishcommunalfund.org Executive vice New York, NY 10022 president March of Dimes Birth Defects Foundation 4 (914) 428-7100 $218.2 $216.8 $228.6 95.7% 76.3% $36.0 16.5% 15.7% Jennifer L. Howse $494,213 5 1275 Mamaroneck Ave. www.marchofdimes.com President White Plains, NY 10605 International Rescue Committee Inc. 5 (212) 551-3000 $210.5 $184.6 $229.7 59.4% 90.0% $7.3 5.3% 3.2% George Rupp $356,000 6 122 E. 42nd St. www.theirc.org President New York, NY 10168 Metropolitan Opera Association Inc. 6 (212) 799-3100 $209.6 $199.0 $242.3 100.0% 79.6% $12.7 5.2% 5.2% Joseph Volpe 7 $904,864 7 30 Lincoln Center www.metopera.org General manager New York, NY 10023 American Jewish Joint Distribution Committee 4 (212) 687-6200 $209.0 $202.1 $234.1 86.8% 82.7% $3.0 1.5% 1.3% Steven Schwager $441,978 8 711 Third Ave. www.jdc.org Executive vice New York, NY 10017 president Medical and Health Research Association of New (646) 619-6400 $201.8 $204.1 $201.8 0.6% 96.5% $0.2 16.7% 0.1% Ellen Rautenberg $228,990 9 York City Inc. 4 www.mhra.org President, chief 220 Church St. executive New York, NY 10013 UJA-Federation of Jewish Philanthropies (212) 980-1000 $201.0 $185.2 $334.3 8 84.7% 8 78.1% 9 $30.2 14.6% 10 12.5% 11 John Ruskay $451,000 10 of New York Inc. 2 www.ujafedny.org Executive vice 130 E. 59th St. president, chief New York, NY 10022 executive National Multiple Sclerosis Society 12 (212) 986-3240 $198.7 $180.9 $207.2 93.4% 74.8% $31.2 16.1% 15.1% Joyce Nelson $300,000 11 733 Third Ave. www.nationalmssociety.org President, chief New York, NY 10017 executive Juvenile Diabetes Research Foundation (212) 785-9500 $196.2 $164.3 $193.3 93.7% 86.9% $14.6 8.1% 7.6% Arnold W. Donald $337,500 12 International 2 www.jdrf.org President, chief 120 Wall St. executive New York, NY 10005 Metropolitan Museum of Art 2 (212) 879-5500 $183.6 $174.6 $180.4 86.3% 89.0% $6.4 4.1% 3.5% Philippe de Montebello $533,462 13 13 1000 Fifth Ave. www.metmuseum.org Director, chief New York, NY 10028 executive Wildlife Conservation Society 2 (718) 220-5100 $175.4 $162.5 $227.6 75.6% 61.7% $4.6 2.7% 2.0% Steven E. Sanderson $463,228 14 2300 Southern Blvd. www.wcs.org President, chief Bronx, NY 10460 executive Institute of International Education 5 (212) 883-8200 $174.5 $173.0 $211.6 30.9% 65.0% $0.9 1.4% 0.4% Allan Goodman $350,000 15 809 United Nations Plaza www.iie.org President, chief New York, NY 10017 executive Educational Broadcasting Corp. 2 (212) 560-1313 $171.3 $167.8 $171.5 69.7% 74.9% $28.6 23.9% 16.7% William F. Baker $286,980 16 450 W. 33rd St. www.thirteen.org President, chief New York, NY 10001 executive Legal Aid Society 2 (212) 577-3300 $170.8 $165.7 $173.0 10.0% 92.3% $0.7 4.0% 0.4% Theodore A. Levine $0 14 17 199 Water St. www.legal-aid.org President, chief New York, NY 10038 executive

Continued

20 | Crain’s New York Business | December 18, 2006

REPORT CORPORATE GIVING

2006 fund-raising expenses 2006 income 2006 total 2005 total % of private % of total Chief operating operating % from % allocated support income executive or expenses expenses Total private to program Total used for used for other highest- 2006 Rank Organization Phone/Web site (in millions) (in millions) (in millions) support1 services (in millions) fund-raising fund-raising paid official compensation

Catholic Medical Mission Board 5 (212) 242-7757 $150.9 $193.9 $162.6 98.2% 98.2% $3.7 2.3% 2.3% John F. Galbraith $192,634 18 10 W. 17th St. www.cmmb.org President, chief New York, NY 10011 executive Jewish Board of Family & Children’s Services Inc. 2 (212) 582-9100 $144.5 $133.9 $141.7 23.9% 88.5% $0.7 2.1% 0.5% Alan Siskind $399,687 19 120 W. 57th St. www.jbfcs.org Executive vice New York, NY 10019 president, chief executive Museum of Modern Art 2 (212) 708-9400 $144.3 $140.8 $144.5 34.8% 72.1% $8.9 8.5% 6.2% Glenn D. Lowry $875,301 20 11 W. 53rd St. www.moma.org Director New York, NY 10019 Hadassah, The Woman’s Zionist Organization (212) 355-7900 $139.9 $129.3 $190.5 49.6% 61.8% $8.3 8.8% 4.4% Morlie Levin $161,277 21 of America Inc. 15 www.hadassah.org Executive director 50 W. 58th St. New York, NY 10019 American Museum of Natural History 2 (212) 769-5100 $134.5 $124.5 $242.3 81.2% 58.5% $5.2 2.6% 2.1% Ellen V. Futter $590,000 22 79th Street and Central Park West www.amnh.org President New York, NY 10024 Covenant House 2 (212) 727-4000 $124.6 $121.9 $131.7 83.4% 64.1% $27.7 25.2% 21.0% Sister Patricia A. $165,434 16 23 346 W. 17th St. www.covenanthouse.org Cruise New York, NY 10011 President YMCA of Greater New York 17 (212) 630-9600 $123.2 $113.3 $128.7 14.8% 86.1% $0.3 0.0% 0.2% Jack Lund $539,523 24 333 Seventh Ave. www.ymcanyc.org President, chief New York, NY 10001 executive United Way of New York City 2 (212) 251-2500 $118.2 $110.9 $117.6 65.7% 84.8% $9.4 12.2% 8.0% Lawrence Mandell $424,883 25 2 Park Ave. www.unitedwaynyc.org President, chief New York, NY 10016 executive

New York area includes New York City and Nassau, Suffolk and Westchester counties in New York; and Bergen, Essex, Hudson and Union cuonties in New Jersey. 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 the listings are complete. 82 organizations were contacted for this list. To qualify for this list, organizations must be tax-exempt 501(c)(3) nonprofits, headquartered in the New York area. Universities, colleges and libraries were excluded. All numbers have been rounded to one decimal place. Rankings and percentages are based on rounded numbers. All information was supplied by the organizations. 1-Nongovernmental support. 2-Fiscal year ends June 30. 3-Fiscal year ends March 31. 4-Organization operates on a calendar year. All 2006 figures, except for compensation paid, are for the year ended Dec. 31, 2005. 2005 operating expenses are for the year ended Dec. 31, 2004. 5-Fiscal year ends Sept. 30. 6-Fiscal year ends July 31. 7-Peter Gelb became general manager of the Metropolitan Opera Association Inc. on Aug. 1, 2006. 8-Total income excludes a nonrecurring gain on the sale of real estate of $103.3 million. 9-Computed as a percentage of total expenses of $201.0 million. 10-Fund-raising activities also generated $11.5 million on behalf of beneficiary agencies. This amount is not included in private support or total income, but is used to compute the fund-raising ratios. 11-Total income excludes a nonrecurring gain on the sale of real estate of $103.3 million. Fund-raising activities also generated $11.5 million on behalf of beneficiary agencies. This amount is not included in private support or total income, but is used to compute the fund-raising ratios. 12-Fiscal year ends Sept. 30. All figures are for fiscal years ended 2005 and 2004. Fiscal year 2006 data were not available at time of survey. 13-Organization did not provide 2006 compensation. Fiscal year 2005 compensation was obtained from organization’s 2005 Form 990. 14-Mr. Levine is not compensated. He divides his time between Legal Aid and an of counsel position at Wachtell Lipton Rosen & Katz. 15-Fiscal year ends May 31. 16-Compensation was not paid directly to Sister Cruise. All payments were made to her order, Sisters of Charity of Cincinnati. 17-Organization operates on a calendar year. All 2006 figures are for the year ended Dec. 31, 2005. 2005 operating expenses are for the year ended Dec. 31, 2004. Research: Denise Southwood and Adrianne Pasquarelli

LEGACY CIRCLE—GIFTS OF $2,000,000 OR MORE Avalon Bay Communities, Inc. Cleveland H. Dodge Foundation, Inc. Kresge Foundation The Starr Foundation Two Trees Management Corporation LLC FOUNDER'S CIRCLE—GIFTS OF $1,000,000 OR MORE The After-SSchool Corporation Anonymous The Clark Foundation Charles Thank you to all Hayden Foundation JPMorgan Chase and JPMorgan Chase Foundation UBS CHAIRMAN'S CIRCLE—GIFTS OF $500,000 OR MORE Annunziata Family Foundation of our friends for Bloomberg Hon. Daniel and Alisa Doctoroff Esther, Norman and Glenn Lau-KKee Merrill Lynch & Co., Inc. & Merrill Lynch & Co., Inc. Foundation MetLife Foundation New York Life Insurance Company and New York Life Foundation Pfizer Inc. and Pfizer Foundation Philip Morris USA Youth Smoking Prevention Program Richmond County helping us build Savings Foundation The von der Heyden Foundation CHAMPION'S CIRCLE—GIFTS OF $300,000 OR MORE ABC Inc., Foundation AXA Advisors and AXA Foundation Con strong kids, Edison Deloitte & Touche USA LLP Deutsche Bank Americas and Deutsche Bank Americas Foundation The Horace W. Goldsmith Foundation The Hyde and Watson Foundation Christine LaSala and Ellen Lipschitz New York Stock Exchange Foundation SI Bank & Trust Foundation Robert H. and Rhonda Silver and Family Vasey strong families, Foundation ANNIVERSARY CIRCLE —GIFTS OF $150,000 OR MORE Benjamin Moore and Company Booth Ferris Foundation The Louis Calder Foundation CB Richard strong communities Ellis Inc. Constance Cincotta Citigroup and Citigroup Foundation Irene D. Collia Trust Robert F. Cummings, Jr., Foundation Joseph J. Grano, Jr. Francis Greenburger Charitable Fund George and Cheryl Haywood and Family Independence Community Foundation Stephanie and Tim Ingrassia Benjamin R. Jacobson Paul Tudor Jones in New York City. Moody's Corp. The New York Community Trust News Corporation The Ong Family Foundation Orda Management Corporation Charles G. Phillips The Poland Foundation The Related Companies, L.P. Rosie's For All Kids Foundation Roslyn Savings Foundation Mary E. Taylor and Christopher C. Behrens Time Warner, Inc. Tishman Speyer Properties Vornado Real Estate Trust Bong and May Yu METROPOLITAN CIRCLE—GIFTS OF $75,000 OR MORE Alan S. Alpert and Linda Trotta Ambac Financial Group Anonymous Avon Products, Inc. Liza Bailey and Michael Musgrave Douglas and Samara Braunstein Joe Cammarata Carnegie Corporation of New York DeLaCour & Ferrara Architects, PC Dr. Lisa Eng The Fisher Brothers Foundation, Inc. Ken Fong Paul and Babeth Fribourg Paula and John Gavin Hank and Karoly Gutman Dozier Hasty Elias Karmon KeySpan Energy Corporation KPMG LLP The Kupferberg Foundation Estate of Irwin Kuttner The James T. Lee Foundation Joseph LeRoy & Ann C. Warner Fund J. Robert and Patricia Lovejoy Jack and Cieli Lund Madison Square Garden, L.P. Marsh Inc. Barbara and Garry Marshall Foundation The Munch Bilheimer Foundation PepsiCo and PepsiCo Foundation Julie and Matt Richardson Julianne and Clayton S. Rose Robert and Martha A. Rubin Barry and Evelyn Salzberg SCOPE-AACA Stephen B. Siegel Solow Building Company Staten Island Yankees Mark B. Sutton Hon. Merryl H. and James Tisch Daniel E. Tomai Verizon and Verizon Foundation Charles B. Wang Foundation Seth H. Waugh Alyce H. Wu Clayton Young and Cecilia Blewer Jeannie Yuen PRESIDENT'S CIRCLE—GIFTS OF $25,000 OR MORE A.L. Bazzini Co, Inc ACC Construction Kenneth and Diana Adams Robert J. Alexander Answer Vending Aon Foundation Gil and Lois Aronow Asian American Federation of New York Atlantic Mutual Atlantic Philanthropies William Ballaine and Joan Azrack The Bank of New York Robert Baraf The Beechwood Organization George W. Bilicic, Jr. Richard J. Boyle Glendon Breedy Julian and Gretchen Brigden Bristol-MMyers Squibb Company and Foundation Willard W. Brittain Bob Buckholz Kenneth J. Buettner Mark B. Buller Burke Supply Company, Inc. Jon and Cynthia Calder Richard Cashin Michael Cembalest and Rachel Hines Edward and Katherine Cerullo David Chin The Coca-CCola Bottling Company William and Marjorie Coleman Colgate-PPalmolive Company Colonel's Kids Cook & Krupa, Inc. Anthony Corbisiero Costco Wholesale Council of Concerned Black Executives The Frances L. & Edwin L. Cummings Memorial Fund Cushman & Wakefield Dairyland U.S.A. Corp. Damaghi Family David DaSilva Lois N. De Conca Thomas J. Dillman Disney Worldwide Services John Dockery Liz Ann and Buzz Doherty Donald Blair Architects The Dreyfus Corporation Deborah L. Duncan and Barnett Lipton Durst Organization Janice Reals Ellig and Bruce Ellig Dwight W. Ellis James B. Emden Ernst & Young LLP Richard Ferrara Financial Guaranty Insurance Company Alan Fishman Forest City Ratner Companies Stuart D. Freedman Fried Frank Harris Shriver & Jacobson Michael Fuchs Charlotte and Joseph Gardner General Motors Lisa Beth Gerstman Foundation Gibson, Dunn & Crutcher LLP Deane A. Gilliam Goldman Sachs & Co. In Memory of Bowden Goon Gordon & Silber P.C. Gould, McCoy, Chadick & Ellig, Inc. Greenpoint Ambulance Corps Joseph Hanson HealthPlus PHSP, Inc. The Heckscher Foundation for Children Heidrick & Struggles, Inc. HIP Health Plans, Inc. Marten Hoekstra The Home Depot USA John Hung Foundation, Inc. IBM Infosys Technologies, Ltd. Robert Kindler Michael J. Klingensmith David Koepp Korean American Community Foundation Kum Gang, Inc. Hon. Theodore R. Kupferman William K. Lee, MD Lehman Brothers Lexmark International, Inc. The George Link, Jr. Foundation Bari Lipp Foundation Litwin Foundation, Inc. Michael Marocco Randy M. Mastro McCormack Contracting, Inc. Doris S. Michaels James F. & Marion L. Miller Foundation Estate of G. Gloria Miraglia Ambrose Monell Foundation Morgan Stanley & Co. Inc. & Morgan Stanley Foundation Bernie Mullin Mutual of America Daniel A. Neff New York Yankees Foundation Samuel Newhouse Foundation Newmark & Co. Real Estate, Inc. John H. & Ethel G. Noble Charitable Trust James and Kathleen Nolan North Fork Bank and North Fork Foundation Northeast Paint & Hardware Northfield Savings Bank Robert W. Norton Onuoha Odim Annette B. Osnos Sang H. Pak Ethel Patterson Douglas L. Paul Paul Hastings Janofsky & Walker Diane F. Perlmutter Rodney Plaskett PricewaterhouseCoopers LLP Queensborough Rotary Club Rampulla Associates Architects Reliant Energy Ira M. Resnick Foundation, Inc. Ripplewood Foundation, Inc. Rosenberg & Estis P.C. John Ryu Sabin Metal Corporation Savoy Magazine Signature Construction Group, Inc. The Sirus Fund Skylab General Contracting Corp. Michael Smart Harold C. Smith Ted Snowdon Foundation Kimberly S. Soule St. James' Church José S. Suquet Arthur G. and Carol Taylor Tim and Suzanne Tokarsky Universal Ford, Inc. Linda J. Vester and Glenn Greenberg Wachtell Lipton Rosen & Katz William J. Walsh Mattie V. Wharry White & Case Hon. Myrtle G. Whitmore Daniel P. Wiener and Ellen Freudenheim Wilmerding Family YMCA Co-oop Nursery School YMCA Retirement Fund YMCA of the USA Raymond H. Yu Zeckendorf Development GOVERNMENT SUPPORT Office of the Mayor of the City of New York Office of the Bronx Borough President Office of the Brooklyn Borough President Office of the Manhattan Borough President Office of the Queens Borough President Office of the Staten Island Borough President New York City Council New York State Senate New York State Assembly United States Congress New York City Housing Authority New York City Department of Education New York State Education Department The YMCA of Greater New York is a community service organization which promotes positive values through programs that build spirit, mind and body, welcoming all people, with a focus on youth.

22 | Crain’s New York Business | December 18, 2006

REPORT CORPORATE GIVING Now it’s business, not personal

with their business. support causes and organizations corporate head. But the Scandals push giving “A huge trend is away from iden- that are related to their mission and difference is becoming away from CEOs’ tifying pet projects that the CEO, line of business.Giving has become, more and more defined. head of the foundation or even a in some ways, a marketing tool. Mr. Weeden mentions favorite charities board member has,” says Peggy Pfizer and Johnson & Johnson sup- Microsoft Corp. as an ex- Connolly, communications director port health care causes; IBM sup- ample. Bill and Melinda BY SHIRA BOSS-BICAK of the Center for Corporate Citi- ports education. Gates personally support zenship at Boston College. “The “We counsel companies to be world health issues chief executives of public com- trend is for the dollars directed to be very strategic in how their giving through their foundation. panies have always had their favorite representing the core interests of the program relates to their core busi- Microsoft’s giving relates charities.The society pages of news- company.” ness,” says Ms. Connolly of the to advancing technology papers and magazines are full of Center for Corporate Citizenship. in schools and other insti- photos showing various CEOs par- More of a division “This fits in with the need to belt- tutions here and abroad. tying for their favorite causes. sarbanes-oxley regulations don’t tighten and be more responsive to BAD SITUATION: The But since the most recent wave of address charitable donations direct- shareholders, employees and the Aligned with company late Kenneth Lay, shown with his wife, Linda, was corporate scandals, new attention is ly, but they do create an environ- community.” in another instance, accused of diverting his being paid to potential conflicts of ment of greater transparency and The CEO, however, usually sets Michael J. Critelli, chief company’s funds for interest when it comes to business the expectation that corporate ex- the tone—and sometimes initiates executive of Pitney personal causes. generosity.Public firms are trying to penditures will be in the best inter- or supports policies—of a compa- Bowes in Stamford,

avoid the kinds of situations in ests of shareholders. ny’s corporate citizenship,including Conn., sits on or chairs ap images which then-CEOs L. Dennis Ko- “Pre-Enron, I did see more its philanthropic involvement. four nonprofit boards. zlowski and the late Kenneth Lay cozying up of CEOs and their per- “In practicality, the CEO does Three of them—the National Ur- “We’re proud to support the or- were accused of directing millions sonal giving patterns,” says Curt have influence,” Mr. Weeden says. ban League, the Connecticut Re- ganizations he supports as a repre- of dollars in company funds to caus- Weeden, chief executive of the As- “In theory,there needs to be two dis- gional Institute for the 21st Centu- sentative of Pitney Bowes. They es to which they were personally sociation of Corporate Contribu- tinct patterns of giving—one that ry and Catalyst—align with the have a significant tie-in to what connected. tions Professionals. “Post-Enron, represents the CEO’s personal in- company’s interests as a major em- we’re trying to do as a business and The threat of scandal isn’t the there’s more of a dividing line be- terests, and one that represents ployer in Connecticut and a sup- as an organization,” says a company only factor behind changes in the tween the two.” company interests.” porter of diversity in the work- spokesman. “But we don’t support allocation of corporate philanthro- The shift away from the boss’s fa- That leaves plenty of room for force. The fourth, the Boston the organization he sits on out of py. Companies are also looking to vorite charity is also part of a larger CEOs to be involved with nonprof- University Alzheimer’s Disease personal interest.” get more bang for their buck by trend in corporate philanthropy. its, both on their own time and with Advisory Board, is strictly a per- aligning with causes that connect Companies are now more likely to their own money,and in their role as sonal endeavor. COMMENTS? [email protected]

“ is educating some of the most talented and promising students, who will one day make their marks in New York City ” and the World The BMCC Foundation salutes its corporate and foundation partners for their generous investment in New York City’s future. President’s Circle CB Richard Ellis, Inc. EMC Corporation Jordan & Jordan Miles & Shirley Fiterman Foundation Citigroup Hitachi Data Systems Network Appliance The Carroll and Milton Petrie Foundation Con Edison JFD Sales Consulting Services Trinity Real Estate Financial Planning Association of New York North General Hospital Lexmark International, Inc. Accenture Citigroup Foundation The Bank of New York Siemens Corporation The Greater Harlem Chamber of Commerce Merrill Lynch & Co. Foundation, Inc. BusinessEdge Solutions, Inc. Sun Microsystems The John J. & Lucille C. Madigan Colgate-Palmolive Company Gensler Charitable Foundation Patrons IBM Corporation Brookfield Properties Lund Fire Products Co., Inc. Verizon JP Morgan Chase Medical Education Technologies, Inc. SAP James T. Lee Foundation MBJ Food Services Michael Hanley, Inc. Sony Electronics, Inc. The Lincoln Fund Microsoft Corporation Pepsi-Cola Bottling Company of New York, Inc. Digby 4 Group, Inc. New York Mercantile Exchange New York Stock Exchange Verizon Foundation Egenera, Inc. Charitable Foundation TD Ameritrade Investor Services, Inc. Dan Klores Communications Lanza Family Foundation Friends Dean’s List Solo Systems Inc. Davis Brody Bond, LLP Honor Roll Jack Resnick & Sons, Inc. Symantec Corporation Downtown Lower Manhattan Association, Inc. Goldman, Sachs & Co. Automatic Data Processing, Inc. Lazard Asset Management Kaplan Educational Foundation Battery Park City Authority Barnes & Noble College Booksellers Metro Fire Safety Guard Mutual of America CA BMC Software Anheuser-Busch, Inc. The Port Authority of NY & NJ Eugene M. Lang Foundation Cisco Systems Johnson & Johnson Van Der Moolen Specialists, USA LLC

CU To support Borough of Manhattan Community College, go to www.bmcc.cuny.edu/foundation. BMCC IS NY

24 | Crain’s New York Business | December 18, 2006 REPORT CORPORATE GIVING Tech-savvy workers gung-ho about online philanthropy

phisticated tools,” he says. companies recognize that Internet- Sophisticated tools Deloitte is just one of the compa- savvy employees want to manage manage donations nies using a new generation of on- everything online,” says Bill Strath- line technology that has changed mann, chief executive of Network and volunteerism, the way they handle their philan- for Good.Web-based contributions thropic programs. These tools can increased 89% between 2002 and screen nonprofits manage volunteer projects, employ- 2005, to $32.3 million, according to ee giving and corporate grants, and the charity portal. BY TINA TRASTER can pre-screen nonprofits for com- At the same time, growing com- pliance with the USA Patriot Act pany-sponsored volunteerism re- deloitte & touche usa’s annual and with Internal Revenue Service quires more coordination.It is rising volunteer campaign deploys 24,000 regulations. an average 30% each year, says An- OPEN HAND: Alan employees in 70 cities on 500 proj- drew Mercy, chief executive and Okada of Citigroup Just like shopping Foundation says ects. Coordinating the effort would founder of AngelPoints.com. The software to vet grant be almost impossible without Web- some companies outsource the California firm offers software that applicants has cut based software that lets the firm management of their philanthropy pairs employee volunteers with processing time.

communicate with workers and par- programs, and others use Web- nonprofits, finding suitable match- buck ennis ticipating charities, as well as evalu- based software internally. es faster and more efficiently. ate results. Either way, employees usually Corporations can use the system and resourceful.” “Before, we had to manually in- “We need technology to design, like managing their activities from to catalog employees’ interests, pas- Firms are also relying on soft- put every board member at a chari- execute and analyze the social and their computers. They’re accus- sions and skills. When a company ware to vet illegal or subversive char- table institution and check those business outcomes of giving,” says tomed to shopping and banking on- runs a volunteer event, e-mails are ities. names against three government Evan Hochberg, Deloitte’s national line, and they want to make charita- sent only to those workers who are lists,” Mr. Okada says. director of community involve- ble contributions or search for likely to be interested. Chuck manual checks The software has cut hours from ment. “[Volunteerism] is not just volunteer opportunities with the “In the old paradigm, everyone alan okada, interim president of the time it takes to process a grant the right thing to do; it’s become a same ease and convenience. was spammed,” Mr. Mercy ex- Citigroup Foundation, uses grants application, he says. full-fledged part of our business “Although online giving still ac- plains. “The campaign is tailored management software to evaluate Companies are increasingly in- strategy. That’s why we’re using so- counts for only 2% of total giving, now—and therefore more strategic applicants safely and quickly. See CHARITY on Page 26

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December 18, 2006 | Crain’s New York Business | 25 REPORT Partnering with nonprofit organizations and government Charity begins online to provide executive leadership skills Continued from Page 25 sisting that grant seekers apply on- line and are outsourcing the burdens STICK TO of data entry, filing and internal Executive Programs communication. KNITTING CyberGrants.com, in Andover, JK GROUP of Princeton, N.J., at Baruch College’s Mass., is a Web site host that man- which has built Web sites for 50 ages the entire grant process. Fortune 500 companies to School of Public Affairs handle matching-gifts, employee Evaluating effectiveness giving, volunteerism and disaster for example, when nonprofits ap- relief, points out that ply to the Verizon Foundation, the administering philanthropic For more information about our programs, CyberGrants database instantly programs is not something most please call Ann Ruecker at (646) 660-6718 shows the foundation’s relationship companies do well. with the applicant,including the re- or email [email protected] The firm charges about sults of any previous gifts. $10,000 to set up a site for a The foundation relies on Cyber- www.baruch.cuny.edu/SPA 1,000-person company, plus an Grants to prompt recipients to sub- annual fee of $6,000. Paying mit so-called impact reports every the IT, payroll and human 90 days throughout the life of the resources departments to grant and to automatically forward administer these functions reminders if grantees fail to provide ultimately costs more than the updates. outsourcing, JK says. “Without this program, we’d “It’s less expensive to use have to write letters and follow up— which would be impossible,because EasyMatch, our Web-based we issue grants to more than 10,000 solution, to handle data entry, entities every year,” says Joseph disbursement, reporting and Scaccia, the Verizon Foundation’s customer service,” explains Paul director of finance and operations. Kalomeris, JK’s director of business development. COMMENTS? [email protected]

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26 | Crain’s New York Business | December 18, 2006 REPORT CORPORATE GIVING

Doing good, promoting DEPLOYING THE TROOPS EMPLOYERS WITH SIZABLE CHARITABLE PROGRAMS sometimes outsource part of their administration. Many companies, including TIAA-CREF and Morgan Stanley, work with vendors like VolunteerMatch, a national nonprofit the company’s agenda that hooks up people willing to give time with a network of 40,000 Volunteer events charitable work for years, but by ACCP found in a recent study that nonprofits. promoting this one-day event, we 56% of the 120 large companies sur- VolunteerMatch, carefully organized emphasized the importance of the veyed have organized volunteer pro- which has 40 corporate to please workers, philanthropic program and encour- grams, including many run by com- partners, has placed aged new people to volunteer,” says munity relations departments or 3 million volunteers bring publicity Michael Schlein, Citi’s head of corporate foundations. since 1998. “If you want global corporate affairs. By coordinating volunteer ef- to place 500 employees forts, companies hope to increase on a particular day, BY STAN LUXENBERG More positive exposure the impact of employees’ charity we can find the citigroup is not alone in running a work, as well as raise morale and opportunities and help citigroup inc. is accustomed to well-organized volunteer program. score free publicity along the way. acting globally, which is what it did In the past, workers did good “If 100 employees put on compa- you organize the event,” says Jason Willett, the organization’s director of Nov.18.The financial services giant deeds mostly ad hoc, sometimes ny T-shirts and go to a walkathon, communications. organized 45,000 employees and with the help of their company’s hu- the corporation may get more posi- Another consultant, Hands On, runs corporate volunteer events. The group family members in 100 countries to man resources department. In re- tive exposure than you could achieve will supply buses to transport employees to a work site, whether the task is to work on charitable projects. cent years, however, corporate vol- with a paid advertisement,” Mr. paint a school room or clean a park. At the site, Hands On organizes Chief Executive Charles Prince unteer programs have become larger Weeden says. employees and makes sure that they have the necessary equipment. When even got into the spirit, teaching a and more sophisticated. Many are Deloitte & Touche USA is one of the work is done, staff members lead discussions on the project’s execution class on microfinance in Beijing. now run by a dedicated philanthro- the New York-based companies and impact. If requested, they also arrange a party for the participants. Workers in Japan pruned trees on py department using sophisticated with a community involvement de- In 2007, the CBS soap opera Guiding Light will celebrate its 55th Mt. Fuji. Participants in Mexico Intranet systems to rally employees partment. Its 17 full-time employ- anniversary by sending its cast and crew to Biloxi, Miss., where they will help collected and distributed 125 tons of and track the work that they do. ees specialize in finding programs repair homes damaged by Hurricane Katrina. Hands On is coordinating the food. And in New York, 800 mem- “There has been a shift in the that workers will like and that have expedition and will supply hammers, Sheetrock and other materials. bers of Citi’s investment banking past decade to make volunteer pro- proved effective. “Morale sinks if employees arrive at a worksite and just stand around,” unit ran a 5K race to raise money for grams more visible to employees,” Though physical labor may be says Julie Mirza, director of Hands On campaigns. “Our job is to make sure the United Nations World Food says Curt Weeden, chief executive laudable,the firm usually tries to put that the project runs smoothly.” Program. of the Association of Corporate the business skills of its high-priced

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December 18, 2006 | Crain’s New York Business | 27 REPORT Organized volunteers

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28 | Crain’s New York Business | December 18, 2006 REPORT INVEST IN THE FUTURE of women and girls in New York City! KATRINA’S MILLION-DOLLAR DONORS U.S. companies that have donated at least $1 million to Hurricane Katrina relief efforts, ranked by cash donations.

Total cash and Total cash and Company Cash donations product donations Company Cash donations product donations

Wal-Mart Stores $32,500,000 $36,000,000 Microsoft $2,050,000 $8,208,000 Bentonville, Ark. Redmond, Wash. ARTNER LATIN AMERICAN INTEGRATION CENTER AMERICAN INTEGRATION LATIN ARTNER

Home Depot $11,000,000 $11,000,000 Time Warner $2,004,000 $5,884,984 Atlanta Manhattan

Exxon Mobil $10,000,000 $10,902,151 Best Buy $2,000,000 $10,000,000 NYWF GRANTEE P Irving, Texas Richfield, Minn. Join us in the movement to leverage resources Citigroup $8,200,000 $8,200,000 AT&T 3 $1,902,836 $1,902,836 that help low-income women and girls achieve Manhattan San Antonio sustained economic security. Chevron $8,000,000 $8,000,000 Bank of America $1,575,000 $1,575,000 San Ramon, Calif. Charlotte, N.C.

ConocoPhillips $7,140,000 $7,140,000 New York Life Insurance $1,334,030 $1,334,030 Houston Manhattan

Marathon Oil $7,053,000 $7,053,000 Merck $1,250,000 $13,080,000 Houston Whitehouse Station, N.J. To make a donation or for more information, please contact us at 212-414-4342, ext. 16 or visit www.nywf.org General Electric $6,000,000 $14,500,000 Caterpillar $1,200,000 $1,200,000 34 22 10010 Fairfield, Conn. Peoria, Ill. West nd Street, New York, NY

Lockheed Martin $5,000,000 $5,000,000 Bristol-Myers Squibb 4 $1,100,000 $4,000,000 Bethesda, Md. Manhattan

Cisco Systems $4,700,000 $4,700,000 Countrywide Financial $1,100,000 $1,100,000 San Jose, Calif. Calabasas, Calif.

Federated Department Stores 1 $3,800,000 $3,800,000 Wells Fargo $1,015,329 $1,015,329 Cincinnati San Francisco

Altria Group $3,738,750 $4,675,780 Costco Wholesale $1,010,000 $1,389,191 Manhattan Issaquah, Wash.

Johnson & Johnson $3,613,000 $8,613,000 Albertson’s $1,000,000 $10,000,000 New Brunswick, N.J. Boise, Idaho

Safeway $3,500,000 $3,520,000 Boeing $1,000,000 $1,000,000 Pleasanton, Calif. Chicago The Coca-Cola $3,100,000 $5,697,500 Coca-Cola Enterprises $1,000,000 $1,000,000 Atlanta Atlanta

Walt Disney 2 $3,000,000 $3,000,000 Dow Chemical $1,000,000 $1,250,000 Golden Years Burbank, Calif. Midland, Mich.

Prudential Financial $2,712,000 $2,712,000 J.P. Morgan Chase $1,000,000 $1,000,000 shouldn’t be Newark Manhattan

BellSouth $2,670,562 $14,670,562 Merrill Lynch $1,000,000 $1,000,000 Atlanta Manhattan black and blue.

Intel $2,664,909 $5,765,592 MetLife $1,000,000 $1,000,000 Santa Clara, Calif. Manhattan

Pfizer $2,600,000 $10,600,000 Motorola5 $1,000,000 $1,000,000 Manhattan Schaumburg, Ill.

PepsiCo $2,550,000 $2,550,000 Northwestern Mutual Life Insurance $1,000,000 $1,000,000 Purchase, N.Y. Milwaukee The Harry & Jeanette Weinberg Wachovia $2,479,500 $2,479,500 State Farm Mutual Auto Insurance $1,000,000 $1,000,000 Charlotte, N.C. Bloomington, Ill. Center for Elder Abuse Prevention General Motors $2,215,412 $2,215,412 Sunoco $1,000,000 $1,000,000 is the nation’s first and only Detroit Philadelphia comprehensive emergency shelter Figures represent all gifts made in 2005, plus donations made through midyear 2006. Unless otherwise noted, the worth of donated products is based on fair market value. In case of tied figures for cash donations, companies are listed alphabetically. 1-Figures do not reflect contributions by May Department Stores, which Federat- ed acquired in August 2005. 2-Cash figures are solely for donations from the company foundation. 3-SBC merged with AT&T in November 2005, taking the AT&T for victims of elder abuse. name. The SBC Foundation is now the AT&T Foundation. 4-The worth of donated products is based on wholesale value. 5-Figure shows Katrina giving by the com- pany’s foundation in 2005. Source: The Chronicle of Philanthropy The Weinberg Center exists EXPLORING CAREERS solely through private donations. NONPROFIT SEEKS BUSINESSES TO HOST HIGH SCHOOL GROUPS Your support is critical. THE GREATER NEW YORK COUNCILS Exploring program is seeking businesses to host educational sessions offering high school students the chance to explore various industries and make better decisions about possible career choices. For more information contact Director The Exploring program puts together groups of 15 to 25 students interested in specific fields. The student groups meet Joy Solomon, Esq. at 718-581-1272. at the host businesses after school for four or more sessions, learning about career ladders, educational requirements, salaries and what people in their selected fields actually do. This ad was graciously paid for by an anonymous donor. For more information, please call Exploring director Bob Hayes at (212) 651-2808, or visit www.nyexploring.org.

December 18, 2006 | Crain’s New York Business | 29 REPORT

TOPS IN FOREIGN PHILANTHROPY U.S. companies that donated at least $1 million to charities outside the United States in 2005.

Total cash and Percentage change Company product donations from previous year

Merck / Whitehouse Station, N.J. $450,420,000 +0.4%

Pfizer / Manhattan $410,000,000 +6.6%

Bristol-Myers Squibb 1 / Manhattan $103,021,537 +81.9%

Microsoft 2 / Redmond, Wash. $65,600,000 +176.8%

They’re closing the achievement gap. Exxon Mobil / Irving, Texas $51,696,000 +44.6% You can close the opportunity gap. IBM / White Plains $45,500,000 +10.2% The National Academy Foundation’s public-private partnerships have been transforming inner- General Electric / Fairfield, Conn. $43,345,722 +158.1% city high school education for more than 20 years. NAF Academies connect young people to Citigroup / Manhattan $37,455,450 +7.4% business professionals through career-themed, college preparatory learning, paid internships and “real world” experiences. With 90% graduation rates and 4 out of 5 NAF students success- Chevron / San Ramon, Calif. $35,100,000 +18.6% fully going on to college and professional careers, we are making a difference. You can too. Altria Group / Manhattan $31,101,499 +36.1% Become a partner. Find out how. Wal-Mart Stores3 / Bentonville, Ark. $26,373,588 212.635.2400 x225 www.naf.org +43.8% CVS 4 / Woonsocket, R.I. $21,975,346 n/a

Alcoa / Pittsburgh $20,569,650 +57.4%

United Technologies / Hartford, Conn. $17,851,916 +7.2%

Coca-Cola / Atlanta $16,672,640 +17.9%

Johnson & Johnson / New Brunswick, N.J. $10,000,000 0.0%

Ford Motor / Dearborn, Mich. $8,100,000 -19.0%

J.P. Morgan Chase / Manhattan $8,030,000 -3.3%

Dow Chemical / Midland, Mich. $8,000,000 +150.0%

Merrill Lynch / Manhattan $7,508,510 +24.0%

The Institute for Student Achievement (ISA) wishes to thank its ConocoPhillips / Houston $6,159,083 n/a generous New York City supporters for helping us to improve 5 the quality of education for NYC public school students.* Without your Morgan Stanley / Manhattan $5,964,748 +102.3% loyal support, the 6,000 students in our 28 NYC small schools and small Boeing / Chicago $5,922,690 +361.0% learning communities would not graduate high school ready to succeed in college, or to achieve their goals in life. Caterpillar / Peoria, Ill. $5,845,595 +587.7% Lehman Brothers5 / Manhattan $5,400,000 ISA students receive the high-quality education so necessary to navigate +800.0% today’s hi-tech society. ISA schools challenge their students with rigorous Safeway / Pleasanton, Calif. $5,000,000 0.0% academic curricula while providing emotional and social supports through Distributed Counseling™, and they do it in small school settings of no more Time Warner / Manhattan $4,988,743 +187.5% than 400 students in grades 9 through 12. UPS / Atlanta $4,400,000 +83.3%

We invite you to learn more about ISA at our first NYC Gala event Marathon Oil / Houston $4,255,000 n/a to be held on April 17th, 2007 at the United Nations, where Weyerhaeuser / Federal Way, Wash. $2,912,803 WABC-TV News anchor Bill Ritter will serve as our Master of Ceremonies. +16.1% Xerox6 / Stamford, Conn. $2,400,000 +300.0% To learn how ISA is changing the lives of our students, contact James Sheridan at 516-812-6777 or Kimberly-Clark / Dallas $2,274,439 -21.4% [email protected]. Visit our website at Deere7 / Moline, Ill. $2,000,000 +1,091.5% www.studentachievement.org Coca-Cola Enterprises / Atlanta $1,956,224 n/a *For a list of ISA's donors, please visit our donors page at: www.studentachievement.org/home/aboutus_privatepartners.html American Express / Manhattan $1,900,000 +1,087.5%

Gap 3 / San Francisco $1,853,316 +168.6%

Prudential Financial / Newark $1,338,116 +32.0%

Sara Lee 2 / Chicago $1,052,643 +24.1%

Unless otherwise noted, figures cover fiscal years ended Dec. 31, and the worth of donated products is based on fair market value. n/a Not available. 1-The worth of donated products is based on wholesale value. 2-Fig- ures are for the fiscal year ended June 30. 3-Figures are for the fiscal year ended Jan. 31, 2006. 4-Figures show Inspiring Students to Achieve only grants made by the company foundation. 5-Figures are for the fiscal year ended Nov. 30. 6-Cash figures are solely for donations from the company foundation. 7-Figures are for the fiscal year ended Oct. 31. Source: The Chronicle of Philanthropy

30 | Crain’s New York Business | December 18, 2006 firm is in the midst of a growth Disney Corp.’s $7.5 billion acquisi- phase. tion of Pixar Animation Studios. Shearman survives poaching Shearman advised on all of them. Climbing the ranks Indeed,in terms of the value of its Continued from Page 2 practice in January for Seyfarth controlled an army of more than shearman ranked ninth in The deals, the firm ranked seventh over- partners were being contacted more Shaw. After 37 years, he says, it was 1,000. American Lawyer’s A-List of top 20 all in mergers and acquisitions last than others.” time for a new challenge. Seyfarth Mr. Madden talks about the firms this year,up from 15th place in year, according to The American After expanding aggressively in also appealed to him because it had firm’s “targeted approach”—focus- 2005, and gained top 10 rankings in Lawyer.But Shearman achieved that the late 1990s, many law firms took no mandatory retirement age. ing on a few key areas such as capital the magazine’s report on corporate spot by executing just 29 deals,a frac- a hit during the market downturn in Nowadays, under the leadership markets, mergers and acquisitions dealmakers in the areas of mergers tion of what other firms did. Top- 2001. But Shearman has recovered of Mr. Madden in New York and and high-yield finance, rather than and acquisitions, capital markets ranked Wachtell Lipton Rosen & more slowly than other top New worldwide managing partner Ro- trying to be all things to all people. and initial public offerings. Katz needed 55 deals, while Latham York firms. In 2004, when its peer han Weerasinghe, Shearman is There’s evidence that the strate- “Name any of the biggest M&A & Watkins had to close 57 for its firms were boasting profitability of sporting a leaner physique. gy is paying off. Shearman’s profits deals in the past year; I bet we were sixth-place ranking. nearly $2 million per partner,Shear- “We let it diminish a bit, because per partner surged 22% in 2005 to involved,” says Mr. Madden. Take “Targeted,” Mr. Madden says. man reported $1.15 million per I’m not convinced it’s about the num- $1.4 million.Mr.Madden says prof- HCA Inc.’s $33 billion leveraged “We’re pursuing our strategy direct- partner. The past six years—when ber of lawyers you have—it’s about its for 2006 are on track to grow an- buyout by private equity firms in ly, focusing on the right clients, and the firm had three different manag- market position,” says Mr. Madden. other 15% to 20%. The New York June, for example, or Boston Scien- I think the numbers bear that out.” ing partners—have been the most The firm has about 900 attor- office has expanded to 460 lawyers tific Corp.’s $27 billion takeover of tumultuous period in Shearman’s neys, down from the days when it this year, and Mr. Madden says the Guidant Corp. in January, or Walt COMMENTS? [email protected] 133-year history. “We probably had more lawyers than we needed,” says John Mad- den, who took the helm as manag- ing partner of Shearman’s New York 101 HUDSON STREET, JERSEY CITY, NJ law office in 2004. The firm had grown too fast and had to cut back as its workload shrank.Indeed,there is little evidence that Shearman did much to try and keep people; several former partners LUCRATIVE ROSTER Some clients brought in by Shearman & Sterling over the past two years. Aon Aramark Banco Macro Bansud1 Chicago Mercantile Exchange H&R Block It’s just like HCA Japan Bank for International being in New York. Cooperation KIA Motors Of course,the Norsk Hydro2 awesome views and Prada Qatar Electricity and Water business incentives Tata Group Troy GAC Telecom3 will clearly remind Vonage Holdings Corp. you that you’re not. 1-Argentine bank. 2-Norwegian aluminum and energy company. 3-Greek entity formed by two U.S. hedge funds. Let’s be clear. 101 Hudson Street is on the Jersey City waterfront. But with that comes some pretty said the firm did little to persuade spectacular advantages. Things like tax breaks, them to stay.“When you’re managing lower utility costs and a lower loss factor. You’ll an environment of change,and you’re also enjoy outstanding restaurants, shops and being proactive about it,that may not a luxury Hyatt hotel. But the real clincher be something that suits everybody,” is that the office tower affords unrivaled Mr. Madden says. views of the Manhattan skyline. And it’s Follow the leaver just a 4-minute PATH ride to downtown. former partnerBarry Barbash says Of course, there is one more thing that he wasn’t looking to leave Shearman puts 101 Hudson Street over the top. It’s & Sterling,but was contacted repeat- our basic business philosophy that our edly by recruiters. In March, he re- tenants come first. Call Mack-Cali for turned to Willkie Farr & Gallagher, all the details and a clear picture of where he had worked in the early everything 101 Hudson has to offer. 1990s, to run its investment manage- ment practice; he took four lawyers with him. Several months earlier, Washington, D.C., partner Steven Sunshine, worldwide head of Shear- man’s antitrust practice, decamped for Cadwalader Wickersham & Taft with some of his team. Former partner Henry Black- iston III and colleagues of his cohort 101 Hudson Street, Jersey City, NJ www.101hudsonstreet.com had other reasons for departing.“So 288,000 sq. ft. available for lease, including full floors. many people my age had left that it Contact: Tom Savoca, 201-261-0359 [email protected] wasn’t a total surprise when I told Christopher DeLorenzo, 201-986-1463 [email protected] them,” says Mr. Blackiston, 62, who ©2006 Mack-Cali left Shearman’s employee benefits

December 18, 2006 | Crain’s New York Business | 31 ACCOUNTING/QUICKBOOKS REAL ESTATE PUBLIC & LEGAL NOTICES Certified QuickBooks POS Experts who understand your business and the importance of cor- rect process flows. 47 Years of combined OFFICE SPACE Notice of Formation of ROCKVIEW Notice of Qualification of Blackstone C experience in accounting, finance and various specialized NYBOT, LLC. Arts. of Org. filed with Fund L.P., App. for Auth. filed Sec'y of businesses. Over 400 installations completed. Secy. of State of NY (SSNY) on State (SSNY) 6/9/06. Office location: NY www.QBTrainer.net 10/6/2006. Office location: NY County. County. LP org. in DE 6/7/06. SSNY 212-767-1500 or 212-332-8162 SSNY designated as agent of LLC upon designated as agent of LP upon whom [email protected]. EXECUTIVE OFFICE SUITES whom process against it may be served. process against it may be served. SSNY SSNY shall mail process to: National shall mail copy of process to Attn: J. Tomilson Hill, 345 Park Ave., NY, NY BOOKKEEPING SERVICES 212.573.0909 Registered Agents, Inc, 875 Ave of the 10154. DE office addr.: CSC, 2711 Americas, Ste 501, NY, NY 10001 Centerville Rd., Wilmington, DE 19808. FurnishedOfficesNYC.com Purpose: any lawful activities. Cert. of LP on file: SSDE, Townsend Bldg., Dover, DE 19901. Name/addr. of each gen. OFFICE SPACE Notice of Formation of Claudia M. Cooke, ptr. avail. at SSNY. Purpose: any lawful M.D., PLLC. Arts. of Org. filed with NY Dept. activities. Advertise on of State on 11/16/06. Office location: NY MIDTOWN COMMERCIAL County. Principal business address: 400 E. Notice of Qualification of Willowbend REAL ESTATE www.newyorkbusiness.com 85th St., Apt. 6A, NY, NY 10028. Secy. of State Development LLC, filed under the original For All office & loft SPACES designated as agent of PLLC upon whom name The Willowbend Development LLC, 500-50,000 SF Call John Gallagher process against it may be served. Secy. of App. for Auth. filed Sec'y of State (SSNY) State shall mail process to: Claudia M. Cooke, 10/24/06. Office location: NY County. LLC BUSINESS SERVICES UNDER MARKET SUBLETS-NO FEE! M.D., 133 E. 73rd St., Ste. 506, NY, NY 10021 org. in MA 11/26/01. SSNY designated as Search our listings @ www.midcomre.com @ 212-210-0189 Purpose: medicine. agent of LLC upon whom process against it 9/11: We Will Never Forget Call Paul 212 947-5500 x 100 may be served. SSNY shall mail copy of INCLUDES: State Filing Fees, NEW YORK Company Seal & Book, Certificate of Notice of Formation of DGM Realty process to CT Corp., 101 Federal St., CORPORATION Incorporation or Organization, Company Associates, LLC. Arts. of Org. filed with Secy. Boston, MA 02110. MA office addr.: 130 $16 4 95 Minutes, Corporate ByLaws, Stock/ COMPLETE Membership Certificate, Preliminary of State of NY (SSNY) on 12/14/05. Office Willowbend Dr., Mashpee, MA 02649. Art. CALL FOR FREE Name Search, Attorney’s Fee LUXURY PROPERTIES location: NY County. SSNY designated as of Org. on file: SSMA, One Ashburton Pl., INFORMATION ® PACKET www.amerilawyer .com agent of LLC upon whom process against it Boston, MA 02108. Purpose: any lawful NEW YORK LLC (212) 962-1000 (516) 338-9100 activities. 95 NEW YORK CITY LONG ISLAND may be served. SSNY shall mail process to: $234 Spiegel & Utrera, P.A., P.C. MIAMI BEACH/FLORIDA COSTA RICA COMPLETE 45 John St., Suite 711; NYC © L. Spiegel c/o Dean Maltz, 1735 York Ave., 14H, NY, NY 10128. Purpose: any lawful activity. Notice of Formation of DELI IP1, LLC, domestic Limited Liability Company (LLC). Rent A Locker TRUMP OCEANFRONT CONDOS LUXURY OCEAN VIEW VILLAS AND ESTATE LOTS Articles of Organization filed with Secretary of Self Storage Lockers: day/month (also desk space) OWN YOUR LUXURY CONDO TODAY! Notice of App. For Auth. For Foreign Ltd. TRUMP GRANDE & TRUMP TOWERS Spectacular Panoramic Pacific Ocean Views Liability Co. (FLLC.) Name: MEADORE State on 11/13/06. NY Office location: NEW Record Storage: $1/m + many other services Buy directly from the Developer & Save $$ Buy directly from the Developer at Pre-Sale SCULPTURES LLC Filed with Sec. of State of YORK County. Secretary of State is designated 147 w 35th St. 212-947-0026 Furnished Condo Hotel units from $325k prices. 2,400 sq ft Villas starting from $439k NY (SSNY) 07/24/06. Jurisdiction: Delaware. as agent upon whom process against the 1-4 Bedrm Residential Condos from $875k Estate Lots starting from $230k Organized: 07/20/06. Off. Loc: New York Co. LLC may be served. Secretary of State shall Call 877Costa15 FINANCIAL PLANNER Ask for details on our FLY-BUY Program SSNY is designated as agent of the FLLC upon mail a copy of any process against the LLC [email protected] served upon him/her to C/O ODELL Call Exclusively Baronoff 305.213.3606 www.desmondcoastalproperties.com whom process against it may be served. SSNY a shall mail a copy of any process to the THE LAMBROZA, 19 EAST 80TH STREET, #4-B, LLC, 246 fifth Avenue, Ste. 504/505, New NEW YORK, NY 10021. Purpose: To engage York, NY 10001. Jurisdiction office address: in any lawful act or activity. EXECUTIVE RECRUITER 32 Loockerman Square, Suite 109, Dover, DE 19904. A copy of the articles is filed at Notice of Formation of New York Delaware Secretary of State, Division of Cardiovascular Associates, PLLC. Arts. of POSITION AVAILABLE Corp., P.O. Box 898, Dover, DE 19903. Org. filed with Secy. of State of NY (SSNY) on Purpose: Any lawful act or activity. 3/25/2004. Office location: NY County. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall Eastern Territory Sales Manager Notice of Qualification of 795 Columbus LLC. mail process to: c/o Epstein Becker & Green, Authority filed with NY Dept. of State on TELECOMMUNICATIONS P.C., 250 Park Ave, NY, NY 10177-0077, attn Workforce Management, a leading information source for human resource executives and 11/27/06. Office location: NY County. LLC Philip M. Gassel, Esq. Purpose: practice of formed in Delaware (DE) on 11/22/06. Secy. of corporate leaders, and part of the Crain Communications, Inc family of publications, has medicine with a specialty in cardiology. an immediate opening for an Eastern Territory Sales Manager. This New York city based State designated as agent of LLC upon whom process against it may be served. Secy. of position will be responsible for direct sales and territory management of all media products, State shall mail process to: c/o The Chetrit Notice of Formation of Limited Liability including print and online display advertising for Workforce Management magazine and Group, 404 5th Ave., 4th Fl., NY, NY 10018, Company. Aegis Ventures LLC (LLC). Articles workforce.com, as well as event and newsletter sponsorships. The experienced candidate principal business address of the LLC. DE of Organization were filed with the Secretary of must have 3-5 years experience in print and online advertising sales, integrated sales address of LLC: c/o Corporation Service Co., State of New York (SSNY) on August 28, 2006. 2711 Centerville Rd., Wilmington, DE 19808. Office location:New York County. SS has been EMERGENCY approach, be detail oriented and have the ability to meet deadlines and handle multiple Arts. of Org. filed with DE Secy. of State, designated as agent of the LLC upon whom tasks with accuracy. Proficiency with MS Office and ACT are preferred. Excellent verbal/written Federal & Duke of York St., Dover, DE 19901. process against it may be served. SSNY shall COMMUNICATIONS communication skills, presentation skills and professional manner a must. Purpose: any lawful activity. mail a copy of process to LLC c/o Joyce Sheena, 1349 Lexington Ave. #10E, NY, NY 10128. SYSTEMS Crain Communications, Inc offers a competitive salary and benefits, profit sharing, and a Notice of Qualification of Unleash Purpose: For any lawful purpose. friendly work environment. Resumes with cover letters can be submitted for consideration Marketing, LLC, App. for Auth. filed Sec'y SPECIALISTS to [email protected]. We thank you for your interest in Crain Communications and of State (SSNY) 10/12/06. Office location: Notice of Formation of FRANCE TAXI, LLC a NY County. LLC org. in DE 10/6/06. SSNY domestic Limited Liability Company (LLC), • FREE PICKUP invite you to visit our Web site at www.crain.com as positions are updated regularly. designated as agent of LLC upon whom Articles of Organization filed with Secretary of AND process against it may be served. SSNY State on 07/10/2006. NY Office location: New Crain Communications is an equal opportunity employer. DELIVERY shall mail copy of process to 126 York County. Secretary of State is designated • 48 HOUR MacDougal St., Ste. 2D, NY, NY 10012. DE as agent upon whom process against the LLC TURNAROUND ON office addr.: Inc. Services Ltd., 3500 may be served. Secretary of State shall mail a S. Dupont Hwy., Dover, DE 19901. Cert. of copy of any process against the LLC served REPAIRS PUBLIC & LEGAL NOTICES Form. on file: SSDE, Townsend Bldg., upon him/her to C/O THE LLC, 313 10th • FREE ENGRAVING Dover, DE 19901. Purpose: any lawful Avenue, New York, NY 10001. Purpose: Any activities. lawful activity. • SHORT AND LONG Notice of Formation of C IMPERIAL, LLC, a NOTICE OF FORMATION OF LIMITED TERM RENTALS domestic Limited Liability Company (LLC). LIABILITY COMPANY. Name: HAMPTONS REQUEST FOR PROPOSAL Articles of Organization filed with Secretary of MEDIA, LLC. Application for Authority was State on 10/19/06. NY Office location: NEW filed with the Secretary of State of New York YORK County. Secretary of State is designated (SSNY) on 10/24/06. The LLC was originally THE PORT AUTHORITY OF NEW YORK AND NEW JERSEY The largest Motorola Dealer in New York State as agent upon whom process against filed with the Secretary of State Nevada on 307 Fifth Avenue, NY 10016 the LLC may be served. Secretary of State 09/18/06. Office location: New York County. REQUEST FOR PROPOSALS FOR THE DEVELOPMENT AND shall mail a copy of any process against the SSNY has been designated as agent of LLC 212-532-7400 LLC served upon him/her to C/O SOVEREIGN IMPLEMENTATION OF ADAPTIVE REUSE OF THE TWA FLIGHT CENTER upon whom process against it may be served. (BUILDING #60) AND ASSOCIATED SITE AT JOHN F. KENNEDY www.metrocomradio.com PARTNERS, LLC, 38 E. 57TH ST., NEW SSNY shall mail a copy of process to the LLC, YORK, NY 10022. LATEST DATE TO 257 Park Avenue South, 5th Floor, New York, INTERNATIONAL AIRPORT, JAMAICA, NEW YORK 11430 DISSOLVE: DECEMBER 31, 2036. Purpose: New York 10010. Purpose: For any lawful To engage in any lawful act or activity. purpose The Port Authority of New York and New Jersey hereby invites proposals for the restoration, rehabilitation and adaptive re-use of Building #6, also known as the TWA Flight Center at To place your REQUEST FOR PROPOSAL Terminal 5, a landmark structure designed by Eero Saarinen, located at John F. Kennedy International Airport in New York City.

classified PUBLIC NOTICE Request for Proposal Interested parties are encouraged to request a copy and respond to this RFP. Joint COLER GOLDWATER SPECIALTY HOSPITAL AND NURSING FACILITY Ventures/Teams are acceptable. The specific information and qualifications details are set GOUVERNEUR HEALTHCARE SERVICES ad call BID NO. 41207012 forth in the document entitled “Request For Proposals For The Development And Implementation Request for proposal to provide durable medical equipment (DME), respiratory equipment and supplies, orthotics, Of Adaptive Reuse Of The TWA Flight Center (Building #60) And Associated Site At John F. prosthetics and other supplies or services billed directly to patients or third party payors by vendor. Kennedy International Airport, Jamaica, New York 11430.” John Gallagher PRE-PROPOSAL CONFERENCE DATE/TIME/PLACE —Thursday, December 21, 2006 at 10:30 a.m. Coler Goldwater Specialty Hospital & Nursing Facility A copy of this RFP will be furnished to interested firms upon request at [email protected]. @ One Main Street, F.D. Roosevelt Island, New York, NY 10044 — Medical Board Room It can also be obtained directly via download at www.panynj.gov. Upon requesting the SUBMISSION OF PROPOSAL —No later than close of business (5:00 p.m.) Thursday, January 18, 2007 RFP, please reference RFP Number: 11002 in the subject line. Your e-mail should include PLACE DUE —Goldwater Specialty Hospital & Nursing Facility the following information, firm name, email address, contact person, mailing address, and 212-210-0189 One Main Street, F.D. Roosevelt Island, New York, NY 10044 Attention: William P.J. Gooth, Director of Purchasing telephone number. Proposals are due on or about April 4, 2007.

32 | Crain’s New York Business | December 18, 2006 “We’re not sure all our seasonal customers are aware of our new lo- Countdown begins for city stores cation, but we’re on pace with last year anyway,”says Heather Lamster, Continued from Page 1 ale made a similar drastic move by and Ms. Friedman says the holiday director of marketing at the family- dicting a cold snap, sweaters and offering its entire stock at half- rush there has been amazing. owned business. coats are sitting on shelves instead of price. Even New York’s smaller retail- Retailers are hoping for a rush of being folded into shopping bags at If clothing retailers can’t move ers are enjoying more foot traffic. last-minute shoppers this week, es- stores like Bloomingdale’s and Ann their cold-weather outfits until after “We’re up considerably for the pecially on Saturday and Sunday. Taylor. Those retailers have been Christmas, industry insiders expect season,” says Ian Ginsberg, presi- Christmas is on a Monday this year. forced to deeply discount piles of to see dramatically reduced prices dent of C.O. Bigelow, a Greenwich “Everyone perceives that they cold-weather apparel and wait, across the board to make room for Village apothecary.His business has have more time,since they have that white-knuckled, to see if shoppers warehoused spring products. been boosted by international extra day,” says Andrea Hyde, pres- will rush the stores this week. The warm weather has had a tourists in town to take advantage of ident of the U.S.division of clothing more positive effect on nonapparel the weak dollar. British visitors, in chain French Connection. Fire-sale time retailers, which are basking in the particular, have sweetened his holi- The week after Christmas will specialty chain Ann Taylor Loft, mid-December sunshine. day, as the pound sterling is worth also play a key role in the holiday which reported disappointing same- “The weather has been great,” nearly $2. season this year. Shoppers are buy- store sales in November, switched says Rachelle Friedman, co-owner ing more gift cards than ever—near- into fire-sale mode last week with a of electronics retailer J&R Music Kitchen sales cooking ly $25 billion worth, according to “buy one, get the second item half- World. “Thank God, we’re really kitchen-supply store Broadway the National Retail Federation— off ” offer in its stores and online. having a great season,” she says. Panhandler, which moved to but stores don’t count those sales un-

The chain had been offering that J&R Music opened a small ver- Greenwich Village from its long- til recipients use the cards. ap images deal only on sweaters until last sion of its huge downtown flagship time home in SoHo this fall, is also MACY’S MAYHEM: Shoppers flock to Thursday. Teen retailer Aéropost- in the basement at Macy’s this fall, pleased with the warmer December. COMMENTS? [email protected] department stores for holiday gifts.

PUBLIC & LEGAL NOTICES

Notice of Formation of 1510 Associates LLC. Notice of Formation of Copernicus Institutional Notice of Formation Frank Productions, LLC Notice of formation of Chadwick Bell LLC, a Notice of formation of Limited Liability Arts. of Org. filed with NY Dept. of State on Investors, LLC. Arts. of Org. filed with NY art. of org. filed SSNY 2/10/05. Off. loc. in NY domestic Limited Liability Company. Arts. Of Company (LLC) Big Apple Spots L.L.C. 12/1/06. Office location: NY County. Secy. of Dept. of State on 10/17/06. Office location: NY Co. SSNY designated as agent of LLC upon Org. filed with the SSNY on 11/22/06. Office Articles of Organization filed with the Secretary State designated as agent of LLC upon County. Secy. of State designated as agent of whom process may be served. SSNY shall location: New York County. SSNY is designated of State of New York (SSNY) on 11/02/2006. whom process against it may be served. LLC upon whom process against it may be mail copy of process to: 23 Leonard St, NY, as agent upon whom process against the LLC N.Y. Office location: New York County. SSNY Secy. of State shall mail process to: c/o served. Secy. of State shall mail process to: NY 10013. Purpose: Any lawful purpose. may be served. SSNY shall mail a copy of has been designated as an agent upon whom Kenbar Group, 1500 Lexington, NY, NY 327 Central Park West, Ste. 12C, NY, NY process to: the LLC, 648 Broadway, Ste. 601, process against it may be served. The Post 10029, principal business address of the 10025, principal business address of the LLC. New York, NY 10012.Purpose: Any Lawful Office address to which the SSNY shall mail a NOTICE OF FORMATION OF LIMITED LLC. Purpose: any lawful activity. Purpose: any lawful activity. Purpose. Latest date upon which LLC is to copy of any process against the LLC served LIABILITY COMPANY. NAME: T&T ASSOC., dissolve: No specific date. upon him/her is C/O the LLC: Notice of Formation of Advanced Solutions LLC. Application for Authority was filed with Big Apple Spots L.L.C. 648 E. 11th St Apt D1 Notice of Qualification of NOCHA A LLC. the Secretary of State of New York (SSNY) & Supply LLC, Art. of Org. filed Sec'y of Authority filed with NY Dept. of State on New York, New York 10009. The Principal State (SSNY) 11/10/06. Office location: NY on 12/06/04. The LLC was originally filed Notice of Formation of ATJ CONSULTING, Business Address of the LLC is: 648 E. 11th 11/14/06. Office location: NY County. LLC with the Secretary of State of Florida on LLC, a domestic Limited Liability Company County. SSNY designated as agent of LLC formed in Delaware (DE) on 11/9/06. Secy. of St Apt D1, New York, New York 10009 upon whom process against it may be 11/02/2004. Office location: New York (LLC). Articles of Organization filed with Purpose/ character of LLC/LLP: Any Lawful State designated as agent of LLC upon whom County. SSNY has been designated as Secretary of State on 10/13/2000. NY Office served. SSNY shall mail copy of process to process against it may be served. Secy. of Purpose Date of Dissolution: No Specific Date c/o Oded Levy, Kaia Investment Mgmt., agent of the LLC upon whom process location: NEW YORK County. Secretary of State shall mail process to: Michael Fischer, against it may be served. SSNY shall mail State is designated as agent upon whom 767 Third Ave., 6th Fl., NY, NY 10017. c/o Sukenik, Segal & Graff, P.C., 404 5th Ave., Notice of Formation of Integrated Builders Purpose: any lawful activities. a copy of process to the LLC, c/o Mass process against the LLC may be served. 5th Fl., NY, NY 10018, principal business Marketing, 5-31 51st Avenue. Long Island Secretary of State shall mail a copy of any LLC. Arts. of Org. filed with Secy. of State address of the LLC. DE address of LLC: c/o City, New York 100001. Purpose: For any process against the LLC served upon of NY (SSNY) on 10/31/05, as amended. Notice of Qualification of Centre Asset Corporation Service Co., 2711 Centerville Rd., lawful purpose. him/her to C/O ANNA M. BOUTZALIS Office location: NY County. SSNY designated Management GP LLC, App. for Auth. filed Wilmington, DE 19808. Arts. of Org. filed with CPA, 265 POST AVE., STE. 130, as agent of LLC upon whom process Sec'y of State (SSNY) 8/1/06. Office DE Secy. of State, Federal & Duke of York St., WESTBURY, NY 11590. DURATION against it may be served. SSNY shall mail location: NY County. LLC org. in DE Notice of formation of Edge Wealth Dover, DE 19901. Purpose: any lawful activity. DATE: 10/10/2030. Purpose: To engage in process to: 5 W. 19th St., NY, NY 10011. 7/31/06. SSNY designated as agent of LLC Management LLC. Arts. of Org. filed with the any lawful act or activity. Purpose: any lawful activity. upon whom process against it may be 349 E. 10TH STREET, LLC Articles of Secy. of State of NY (SSNY) on 10/20/2006. Office location: 675 Third Avenue, Ste. 2800, served. SSNY shall mail copy of process to Org. filed NY Sec. of State (SSNY) Notice of Qualification of Right Wall Capital NY, NY in NY County. SSNY is designated as Notice of Qualification of Sedna Partners (QP) Attn: James A. Abate, 30 Wall St., 6th Fl., 9/7/2006. Office in New York Co. SSNY Offshore Management, LLC. Authority filed NY, NY 10005. DE office addr.: CSC, 2711 agent of the LLC upon whom process against LP, App. for Auth. filed Sec'y of State (SSNY) desig. agent of LLC upon whom process it may be served. The person to whom SSNY with Secy. of State of N.Y. (SSNY) on Centerville Rd., Wilmington, DE 19808. may be served. SSNY shall mail copy of 12/29/04. Office location: NY County. LP org. 11/22/06. Office location: NY County. LLC Cert. of Form. on file: SSDE, Townsend shall mail a copy of any process, and the process to 270 Lafayette Street - 4th Floor, in DE 12/27/04. SSNY designated as agent of formed in Delaware (DE) on 11/17/06. SSNY Bldg., Dover, DE 19901. Purpose: any registered agent of the LLC upon whom LP upon whom process against it may be New York, N.Y. 10012. Purpose: Any process against the LLC may be served, is: designated as agent of LLC upon whom lawful activities. served. SSNY shall mail copy of process to lawful purpose. Scott Ziegler, c/o Ziegler, Ziegler & Assoc., process against it may be served. SSNY shall 570 Lexington Ave., 44th Fl, NY, NY 10022. 200 Park Ave., Ste. 3900, NY, NY 10166. DE mail process to: 320 Park Avenue, 10th Fl., Notice of Qualification of NY-Bronx IV, LLC. NY, NY 10022. DE address of LLC: Stellar Urbecon LLC Articles of org. filed NY Sec. Purpose: any lawful activity. office addr.: CSC, 2711 Centerville Rd., Authority filed with Secy. of State of NY Corporate Services LLC, 3500 S. Dupont of State (SSNY)10/25/2006. Office in New Wilmington, DE 19808. Cert. of LP on file: (SSNY) on 11/17/06. Office location: NY Hwy., Dover, DE 19901. Cert. of Form. filed York Co. SSNY desig. agent of LLC upon SSDE, Townsend Bldg., Dover, DE 19901. County. LLC formed in Delaware (DE) on Notice of Formation of Robert D. Glatter, M.D., with DE Secy. of State, 401 Federal St., Dover, whom process may be served. SSNY Name/addr. of each gen. ptr. avail. at SSNY. 10/31/06. SSNY designated as agent of LLC PLLC. Arts. of Org. filed with NY Dept. of State DE 19901. Purpose: any lawful activity. upon whom process against it may be served. shall mail copy of process to 40 West 105th on 11/6/06. Office location: NY County. Secy. Purpose: any lawful activities. SSNY shall mail process to: 660 S. Figueroa St., New York, New York 10025. Purpose: of State designated as agent of PLLC upon St, 24th Fl, Los Angeles, CA 90017. Address Any lawful purpose. whom process against it may be served. Secy. Notice of Formation of 350 EAST 19TH ST. required to be maintained in DE: 40 E. Division of State shall mail process to the principal LLC, a domestic Limited Liability Company. Coming Up St, Ste A, Dover, DE 19901. Arts. of Org. filed Notice of Formation of Fix Flyer LLC, filed business address of the PLLC: 17 W. 67th St., Articles of Organization filed with the Secretary with DE Secy. Of State, 401 Federal St., Ste 4., under the original name FixML Flyer, LLC, Art. Apt. 1E, NY, NY 10023. Purpose: practice the of State of New York (“SSNY”) on 11/30/06 on the Calendar Dover, DE 19901. Purpose: any lawful of Org. filed Sec'y of State (SSNY) 10/6/03. profession of medicine. NY location: New York County. SSNY is activities. Office location: NY County. SSNY designated designated agency upon whom process as agent of LLC upon whom process against it Notice of Formation of Goldpoint Capital against the LLC may be served. SSNY shall Discover New York LLC. Art of Org filed Management LLC, Art. of Org. filed Sec'y of mail a copy of any process against the LLC with NY Sec of State (SSNY) 6/10/04. may be served. SSNY shall mail copy of December 25th process to 210 East 68th St., 1G, NY, NY State (SSNY) 12/28/01. Office location: NY served upon him/her to the LLC, c/o Turman Office in NY County. SSNY designated & Eimer LLP, 1980 Broadcast Plaza, Merrick, Book of Lists LLC agent upon whom process may be 10021. Purpose: any lawful activities. County. SSNY designated as agent of LLC upon whom process against it may be served. NY 11566. Purpose: To engage in any served. SSNY shall mail copy of process to lawful act or activity. 60 E42nd St, #1415, New York, NY 10165. Notice of Qualification of Lexa Partners LLC. SSNY shall mail copy of process to Attn: Purpose: any lawful purpose. Authority filed with NY Dept. of State on Anthony F. Bruan, 18 East 41st St., 20th Fl., January 1st 10/30/06. Office location: NY County. LLC NY, NY 10017. Purpose: any lawful activities. WAGRAM INTERNATIONAL LLC, Notice of Formation of SIBERIA TAXI, LLC a formed in Delaware (DE) on 1/18/02. Secy. of Articles of Org. filed N.Y. Sec. of State 2007 Economic Outlook domestic Limited Liability Company (LLC), State designated as agent of LLC upon whom Notice of Formation of Stursberg and (SSNY) 12th day of October, 2006. Office in Articles of Organization filed with Secretary of Associates, LLC, a professional service limited New York Co. at 400 West 37th St, Ste 12A, process against it may be served. Secy. of State New York, NY 10018. SSNY design. Agt. State on 07/07/2006. NY Office location: New shall mail process to: c/o CT Corporation liability company (PLLC). Arts. of Org. filed York County. Secretary of State is designated with NY Dept. of State on 8/24/06. Office Upon whom process may be served. SSNY System, 111 8th Ave., NY, NY 10011, Call John Gallagher as agent upon whom process against the LLC location: NY County. Secy. of State designated shall mail copy of process to 400 West may be served. Secretary of State shall mail a registered agent upon whom process may be as agent of PLLC upon whom process against it 37th, Ste 12A,New York, NY 10018. reg. @212-210-0189 copy of any process against the LLC served served. DE address of LLC: 1209 Orange St., may be served. Secy. of State shall mail process Agt. upon whom process may be served: to place your classified upon him/her to C/O THE LLC, 313 10th Wilmington, DE 19801. Arts. of Org. filed with to the principal business address of the PLLC: Spiegel & Utrera,P.A.,P.C. 45 John Street, advertisement today! Avenue, New York, NY 10001. Purpose: Any DE Secy. of State, 401 Federal St., Ste. 4, 405 Lexington Ave., Ste. 4949, NY, NY 10174. NYC 10038 1 800 576-1100 Purpose: Any lawful activity. Dover, DE 19901. Purpose: any lawful activity. Purpose: the practice of law. lawful purpose.

December 18, 2006 | Crain’s New York Business | 33 Spitzer adviser eyes Medicaid ALBANY’S BAD PRESCRIPTION Some of the state agencies responsible for Medicaid. Continued from Page 1 servers say the Spitzer administra- “Medicaid is full of silos; there’s State Department of Health Plays lead role glomeration of spending centers tion must attack the system’s inabili- no staffing analysis,” he says. “We without centralized decision-mak- ty to set coherent spending priorities. could be doing a much better job.” Office of Health Systems Management Sets institutional rates ing. The lack of centralized decision- Cutting costs incurred by the high- Office of Managed Care Oversees HMOs New York’s Medicaid program, making adds to costs without help- user patients by even 10% would re- AIDS Institute Oversees AIDS-related programs which serves about 4 million people, ing patients—particularly patients sult in an annual savings of more “operates without an overarching set with multiple health problems. A than $1 billion, he says. Center for Community Health Oversees certain health programs of principles and priorities,”accord- case in point: Treatments for alco- for women and children ing to the report.Several state agen- Disparate reimbursement Division of the Budget Approves rates and hiring at cies and more than 200 subagencies the uncontrolled Medicaid ad- agencies that get Medicaid money and units combine to administer Medicaid lacks ministration is also seen in the vary- and oversee the system. ing reimbursement rates for the same Governor’s staff Reviews reports from Medicaid “Medicaid is a multifaceted pro- ‘an overarching medical services. Medicaid pays $70 inspector general gram, involving state and federal to $90 for visits to clinics that are rules, diverse populations, multiple set of principles based in hospitals, but provides up to delivery systems, multiple regula- $190 for visits to freestanding clinics. from hospitals and health care aid’s structural overhaul if it trans- tors and a wide array of benefits,”the and priorities’ Psychiatric visits show a similar range unions,which are already feeling the lates into more efficient patient care. study says. The report needed 10 in reimbursement, ranging from $72 sting of last month’s Berger report. “We need governmental process- full-page charts to outline Medic- to $130, depending on which state A state panel headed by former in- es that deal with the needs of the pa- aid’s structure. subagency is paying. vestment banker Stephen Berger tient, rather than forcing patients to “The bottom line is that similar recommended the closure of nine fi- meet the way government is struc- Inside job holism, diabetes and mental illness services are reimbursed at different nancially struggling hospitals as part tured,” he says. “Medicaid would be the report does not spell out pro- are handled by separate Medicaid rates [without] a compelling pro- of restructurings that will affect a to- a good place to start.” posals for altering the bureaucracy. fiefdoms. grammatic or fiscal rationale,” the tal of 57 hospitals.The closings will For his part, Mr. Tallon says that The governor-elect is expecting to In New York City, 30% of Med- hospital fund report concludes. mean the loss of 7,000 jobs. he hopes his report and recommen- receive recommendations from Mr. icaid hospital spending goes to care During his gubernatorial cam- Hospitals, which receive $9 bil- dations to the governor will set the re- Tallon soon, according to a Spitzer for such patients, though they make paign,Mr.Spitzer repeatedly pledged lion of all Medicaid spending, are form process in motion.“Is anyone in spokeswoman. “It is essential that up only 3% of the entire Medicaid to reduce the expenditure for Medic- likely to be affected if health servic- charge?” is the main question about we look internally to find better pool. They are referred to as “high- aid, which has doubled in the past es paid for by Medicaid are reduced. Medicaid that must be answered, he ways of running our Medicaid pro- user” patients, since their care is decade and now costs each taxpayer Daniel Sisto, president of the says. The answer appears to be that gram,” she says. costly. Mr. Tallon blames the Med- an average of more than $2,000 a year. Healthcare Association of New too many people are in charge. While the details of Medicaid re- icaid bureaucracy for much of that But any efforts to cut back are York State, which represents hospi- form remain to be ironed out, ob- expense. likely to run into stiff resistance tals, says he would support Medic- COMMENTS? [email protected]

Zagat eats up the competition FOOD LOVER ABOUT TOWN TIM ZAGAT may have added guides about movies and golf courses, but food Continued from Page 1 tors, according to Nielsen/NetRat- stand the new technologies,” he is his first love. The chief executive of Zagat Survey dines out about eight store-bought guides—down from ings. Furthermore, only 20% of on- says. times a week. In addition, he takes a spin around the Big Apple in a Town Car 50% a decade ago. line users are subscribers for fee- That includes son Ted Zagat, a every few weeks, popping in on 20 to 30 eateries a night. Not every new idea is a winner,of based sites. Harvard Business School grad who Many of these tours raise money for charitable organizations that auction course. The 2004 U.S. family travel “Zagat has a strong brand, but it was promoted to president this year a night on the town with Mr. Zagat. The famous publisher is also taking notes guide and 2003 music guide were not also has the challenge of competing from chief operating officer. to confirm the ratings in his guides. big sellers and haven’t been updated. with free, ad-supported content,” For now, the biggest growth en- The pro says he looks for certain telltale signs. For example, if customers What’s more, though Zagat says Carolyn Creekmore, senior di- gine for the firm is corporate part- leave food on their plates, either the chef is not very talented or the guides may be ubiquitous in homes rector of media analytics at nerships. Zagat Survey has been restaurant is managing its costs poorly. and offices, the company is still a bit Nielsen/NetRatings. able to squeeze more out of its data One of the worst offenses, Mr. Zagat says, is “if you walk into a place and player online. Persuading con- Mr.Zagat,66,is well aware of the since it transferred its voting and no one notices you.” sumers to buy information that is challenges. The family-run organi- comment system to an online plat- available from numerous sources for zation plans to spend millions of form. free is difficult. dollars to market and improve the “Zagat is the first book I reach for Web site next year.It’s running half- Slicing and dicing data gat guides that had bank disclosure vestors have insisted on bringing on my desk,”says Antoinette Bruno, page ads in The New York Times this for example, the company can statements bound in among the management to the next level. To co-founder of Starchefs.com. “But month, an unprecedented move for slice and dice data for corporate restaurant reviews. make the firm less reliant on its online I can go to the restaurant sec- the company. Mr. Zagat is also hir- clients to produce pocket-sized Corporate deals are also helping founders, four senior positions tion of New York magazine.” ing more Web staffers to enhance books that cover one neighborhood to fuel online subscriptions.Master- were created in the past two years the site. or even the best restaurants near a Card International recently and filled by people outside the Web traction lacking A former lawyer turned foodie particular building. Zeckendorf snapped up 50,000 to give to credit family. indeed, Zagat.com, launched in who founded the firm with his wife, Development commissioned such a card customers. “Now the company could run 2002, hasn’t gained anywhere near Nina,Mr.Zagat is relying on anoth- guide to tout the eateries and shops “We’ll see lots of growth” in cor- without any family members,” Mr. the traction of free sites.In October, er generation to take the lead online. near its apartment building at 15 porate cross-selling, Mr. Zagat says. Zagat says. Zagat.com had 675,000 users versus “You have to be open to new ideas, Central Park West. And Northfork As the company gets ready to hit Citysearch.com’s 13.3 million visi- and the younger people here under- Bank recently sent out 2 million Za- the fast-forward button, its in- COMMENTS? [email protected]

Chinese shopping MART PROJECTS GRANDLAND EXPO CENTER TDC DEVELOPMENT AND CONSTRUCTION PROJECT Continued from Page 3 ly location in a former Pan Am ETA June 2007 2009 showrooms for Chinese firms at 7 hangar at John F.Kennedy Interna- LOCATION East Elmhurst, Queens Willets Point, Queens World Trade Center, lost some cred- tional Airport, make the project ap- ibility when that deal fell through. pear more viable. Tenants would be INVESTMENT $46 million Unknown TDC Development and Con- housed in what would effectively be SPECS 700 employees, 200 showrooms, 116,000 square 1 million square feet of office, hotel, convention and struction Corp. in Flushing has ex- a free trade zone with plenty of secu- feet showroom space perience developing and managing rity.The center would be surrounded mixed-use commercial centers in by hotels,and an extended-stay hotel INTERNATIONAL OUTLET EXCHANGE CENTER VANTONE CHINA CENTER Queens,but its Willets Point propos- might be built nearby. But the proj- ETA At least 18 months Unknown al,which has trade mart components, ect probably won’t be up and running LOCATION Jamaica, Queens (probably Building 208 at JFK Airport) Was 7 World Trade Center; investors scouting new sites has yet to be approved by the EDC. for at least 18 months. While the International Outlet “This isn’t something that hap- INVESTMENT At least $40 million NYC Investment Fund has committed $3 million so far Exchange Center isn’t as far along as pens overnight,”says Mr.Matthews. SPECS 1,200 employees at first, 2,000 showrooms, 400,000 200,000 square feet of office, showroom and cultural Grandland, its projected size—close to 500,000 square feet space to 500,000 square feet—and its like- COMMENTS? [email protected]

34 | Crain’s New York Business | December 18, 2006 BUSINESS TABLE TALK A kinder, gentler version of Megu comes to midtown PAGE 39 buck ennis

GOTHAM GIGS Rink leader MANUEL CORREDOR-BEDIGAN, 27, works in the heart of the city’s bustling holiday scene as an attendant at the Rockefeller Center ice skating rink. He skates in slow circles, offering a hand to first-timers and reprimanding showoffs. BUSY SEASON More than 2,000 people a day take to the ice during the season. Mr. Corredor, known as Manny, hits the rink at 7 a.m. to warm up for an hour before his eight-hour shift and stays at least an hour afterward to practice figure-skating moves. COACHING Mr. Corredor gives newbies three pieces of advice: “Don’t look down; waddle back and forth with your arms out like a penguin; and smile.” He has witnessed a handful of serious spills and treated lots of sprains. TOE PICK “I get paid to skate— you can’t get better than that,” says Mr. Corredor, a Brooklyn native who learned the basics with in-line skates and switched to ice five years ago. He’s now pursuing a teaching certificate through the United States Figure Skating Association. —elisabeth butler ELISABETH BUTLER finds that she can make EXPERT OPINIONS plenty of pretend purchases for less than SURVIVING THE the average holiday HOLIDAY PARTY budget of $791. the important thing to remember is that this is an extension of the office; it’s not a sports bar.This is not the buck ennis time to guzzle free booze and THE STATS loosen your tongue.This is not the time to express suppressed feelings about colleagues and bosses. If Late-shopping tips you’re on an elevator when you leave, remain quiet. You’ve 33%SHARE OF CONSUMERS had a drink or two.That 10 new stores offer gifts at various prices who rely on credit cards to conversation could put the finance their holiday nail in the coffin. And don’t BY ELISABETH BUTLER spending think you can get lost among Source: National Retail Federation the 800 other people at the n just seven days, families across the city will tear into the brightly event. If you behave outrageously, someone wrapped boxes and bags that have been carefully placed under the tree. will eventually report Between now and then, procrastinating New Yorkers will hit the streets back. —arlene with long lists of presents to buy to ensure that happy scene. 25%ANNUAL INCREASE isaacs For those getting a late start on holiday shopping this year, don’t fret. in holiday retail spending President Dozens of new stores opened in 2006, and each offers something unique. on U.S. Web sites from Respectful Nov. 1 through Dec. 8. Communications Here’s the lowdown on 10 new shops to help you quickly whittle down Inc. that shopping list. See LAST-MINUTE on Page 36 Source: comScore Networks istockphoto I December 18, 2006 | Crain’s New York Business | 35 BUSINESS LIVES

Last-minute shopping tips COMING IN UNDER BUDGET THIS IS MY THIRD HOLIDAY SEASON in New York, and the fun of Christmas shopping in the city hasn’t worn off. Continued from Page 35 which lets them produce and flavor Honora I’m one of those people who love to browse stores for their own chewing gum.230 E.83rd inspiration, and I have a good time even if I don’t buy 212 Kids St., between Second and Third av- Pearl seller’s anything immediately. The Christmas music on the Toy inventor’s enues new setting loudspeakers and afternoon coffee breaks make me smile—and the people-watching sure beats fter 60 years of selling Apple going to the mall in Little Rock, Ark. showcase pearls to other retailers,Hon- eri grobman stocks her Easier to visit ora opened its own store ear- I relished my assignment to come up with a A last-minute shopping guide to 10 new stores in bright shop with loads of lier this month. The family business reasonably priced, educa- during off-hours offers a range of prices and styles.Big the city. Along the way, I imagined how I G would spend my holiday budget. The average tional toys for children under age he glass-cube entrance at spenders can splurge on a 17-inch 10. She spent seven years in the toy the new Apple store has choker of chocolate-colored South American is expected to spend $791 on manufacturing business before tourists and locals alike Sea Tahitian pearls, which has a dia- gifts this year, according to the National T Retail Federation, so that was my target. opening her own store, and 212 buzzing, so shoppers who are mond clasp ($12,500). More budg- Kids features several of her own crunched for time et-conscious browsers might prefer a The shoes at Té Casan were my first pretend inventions. One, Lan- should try to visit bracelet of black pearls that have pea- purchase, and I was afraid they would blow my guage Littles, is a the cube during cock shimmers of green, purple and budget off course. Still, I managed to stay close to line of dolls ($35) off-peak pink ($85).The sales staff is friendly my goal by the end. Happy holidays to you and yours. that teach phrases hours—which and knowledgeable, but you might —ELISABETH BUTLER

in Spanish,Hebrew, isn’t too difficult have to wait for someone to let you in buck ennis Mandarin or 13 because the store the front door if a security guard isn’t

other languages. istockphoto is open 24 hours on duty. 30 E. 57th St., between a dozen of the fitted Bombers hats certificate. 120 E. 56th St., between Another, Good- a day. If you’re Madison and Park avenues ($35) every day. The Buffalo-based Lexington and Park avenues night Dolls,plays a shopping for a company stocks hundreds of hats message in the par- iPODS are for the picking at Apple. second iPod, Juicy Couture with logos for other teams,from the Uniqlo ent’s recorded voice consider the Bosox to the Rangers,as well as caps when Junior pushes Shuffle ($79), which Magnet for teens, with college insignia. If you don’t Inexpensive on the doll’s midsection. The store plays 240 songs and offers 12 hours know your recipient’s head size, just also carries a slew of instructive of playback. Apple also offers gift twentysomethings grab a gift certificate. Hats start at Japanese styles games ($25 each), including Spa certificates for iTunes or merchan- eens and twentysome- $26 for adults, but fancy giraffe- his japanese-owned store is Science, which teaches kids how to dise such as the new iPod phone ru- things started crowding skin caps are also available for a cross between the Gap and mix scents to make a unique bubble mored to be coming next month. Tinto New York’s two new $300. 9 E. Fourth St., between TH&M, but with better-qual- bath, and the Ultimate Gum Kit, 767 Fifth Ave., at East 59th Street Juicy Couture stores as soon as Broadway and Lafayette Avenue ity merchandise. Known for its inex- they opened. The pensive cashmere collection, includ- Upper East Side Té Casan ing V-neck sweaters ($70) and shop uses its down- scarves ($40) in dozens of bright col- stairs to show off the Shoes made ors, Uniqlo also sells down vests brand’s Status col- ($90) and skinny jeans made with lection, which in- for collecting Japanese denim ($40). You can shop cludes a leather é casan opened for men, women and children here, purse with 57 pieces just this month to but don’t expect to get the spectacu- of handmade hardware the delight of lar service for which other Japanese JUICY items come in flavors. T ($9,950).Near the pink footwear fetishists. If clothiers are known.Remember that suit of armor, there’s a you’ve got a shoe person in the sizes run a little small, especially stack of shelves filled with less ex- your life,the store is worth a look be- in the men’s department. 546 Broad- pensive gifts, including knee socks cause it offers limited-edition collec- way,between Prince and Spring streets wrapped like candy (three pairs for tions from seven up-and-coming de- $29).Juicy apparel is upstairs,but the signers. Prices range from about Zoë shirts and dresses are crammed on $225 to around $850. Fay B.’s calf- the racks. 860 Madison Ave.,between length chocolate boots ($345) have Smart fashions East 70th and East 71st streets sold well so far, as have Manuela Fil- ipovic’s Art Deco booties ($335), in Dumbo Kiki de Montparnasse which come in green or black and he dumbo neighborhood in feature African beading on the heel. Brooklyn is gaining retail 50 ways to please The sales staff is remarkably atten- Ttraction,with both West Elm tive at the three-floor store. 382 W. and Jacques Torres drawing crowds. your lover Broadway, between Spring and Zoë is the latest fashion addition to eed a gift to trade with Broome streets the area. The younger sister of a your lover after all the rela- Princeton, N.J., shop, Zoë tives have gone home? Truman’s Gentleman’s carries con- N ZOË’S Head to Kiki de Montparnasse, temporary la- SoHo’s newest luxury lingerie shop. Groomers offerings can bels such as Their scantily dressed sales staff will be pricey. Citizens jeans help you choose between the black Handsome and Diane von Fursten- blindfold inscribed with “Love is treatments berg,as well as design- blind” ($95), the silk jumpsuit gettyimages er lines from Emilio ($695) and the Bedroom Games gift en with ragged Pucci and Alexander box ($252), which comes with fingernails may feel McQueen. It’s not a chocolate sauce and naughty dice. Mout of place in one of destination for the The boutique also stocks a selection the city’s many feminine nail sa- thrifty—Ms. von Fur- of classic steamy DVDs, including lons. Now, busy executives can stenberg’s silk, black- From Here to Eternity and Last Tan- get “handshake maintenance” and leopard-print dress go in Paris ($25 to $40). 79 Greene “foot repair” ($25 and $45, respec- goes for $325—but the St.,between Spring and Broome streets tively) in privacy at Truman’s in shop also carries a few midtown. The shop, which was stocking stuffers for New Era Cap founded by three New York busi- less than $100, in- nessmen, offers special holiday cluding a Kobo Baseball hat packages. The Holiday De-stress champagne-ginger Spa ($215) includes a 60-minute scented soy candle heaven massage, a 30-minute facial, a ($35). 70 Washington St., ankee baseball caps are by mani/pedi and a glass of Dewar’s between York and Front streets far the most popular item at scotch. Book appointments at least Ythis store. The shop sells half two days in advance or buy a gift COMMENTS? [email protected] 36 | Crain’s New York Business | December 18, 2006 BUSINESS LIVES CORPORATE LADDER Michael Strianese Playing defense at L-3 CFO steps up to head raise the fledgling firm. L-3, which posted $703 million in sales in its PERSONNEL FILE contractor after boss’s first year, expects to rack up close to $13 billion this year. It projects that COMPANY L-3 Communications death; acquisitions earnings will reach $5 per share, up Holdings Inc. expert will keep buying 19% over last year’s price. TITLE Chief executive In on the ground floor and president BY AMANDA FUNG mr.strianese has been instrumen- AGE 50 tal in managing the firm’s growth.“I RÉSUMÉ Chief financial officer, ichael strianese was there at L-3’s infancy,” he says. L-3; vice president, Lockheed never anticipated “I have been involved in everything Martin; director of special the death of his from the type of companies we projects, Loral friend and boss bought to the wallpaper in the con- Frank Lanza, the ference room.” FAVORITE HOBBIES Boating and Mco-founder and chief executive of He began his career as a defense skiing L-3 Communications Holdings merger and acquisitions specialist at INDISPENSABLE GADGETS Inc., who passed away unexpectedly Loral Corp. in 1990, following 12 BlackBerry and GPS

six months ago at age 74. He never years as an accountant at Ernst & gibbons catherine thought about what it would mean Young and its predecessor firms.Af- for his future, either. ter helping Loral integrate a number It has purchased 60 security and in a few years,while maintaining the by multiple L-3 operations selling the The certified public accountant, of major acquisitions, he moved to surveillance firms over the past nine company’s entrepreneurial culture. same products.He has already com- who graduated from St. John’s Uni- Lockheed Martin Corp., which ac- years. Mr. Strianese played a crucial bined two government services units. versity, had been happy as chief fi- quired Loral in 1996.The following role in each deal as he climbed the Knowing the ropes As L-3 continues to grow, Mr. nancial officer of the nation’s sixth- year, Mr. Strianese became part of L-3 finance department ladder, analysts like the transition at the Strianese wants to ensure that deci- largest defense contractor, a job he the Lockheed team that created L-3. reaching the CFO position in 2005. top.“Mr. Strianese is contemplative sions are made quickly but that its thought he’d hold for life. The company—which makes As CEO, Mr. Strianese plans to and thoughtful,” says Joe Campbell, nine divisional presidents remain “I was going to retire with Frank,” everything from airport bomb detec- carry on L-3’s acquisition strategy, managing director of aerospace and empowered. He notes that 90% of says Mr.Strianese.“When he passed tors to secure communications sys- focusing on firms that have devel- defense research at Lehman Broth- the units meet or exceed their annu- away, it became apparent to me that tems to flight simulation equipment oped sensors to detect nuclear and ers. “He knows all the pieces of L-3 al sales targets. I should run the company.” for F-18 aircrafts—battles larger ri- biological agents.Given the Iraq war better than anyone else.” “I am following in a strong In late October, the board vals Boeing,Raytheon,General Dy- and the nuclear ambitions of Iran Mr. Strianese—who oversees leader’s footsteps,”he says.“My goal agreed, and promoted him to CEO. namics and Northrop Grumman for and North Korea, the United States 62,000 employees in 75 business is to continue in that model, but The bachelor may not have any government contracts. Despite the is likely to continue to spend on units—says he will begin to consoli- bring my own style and vision.” parenting experience, but as one of competition, L-3 has continued to these systems,he says.Mr.Strianese date,with an eye on cutting costs and the first employees of L-3,he helped grow through acquisitions. expects to build sales to $20 billion ensuring that clients aren’t approached COMMENTS? [email protected]

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December 18, 2006 | Crain’s New York Business | 37 BUSINESS LIVES

EXECUTIVE MOVES

ACCOUNTING & CONSULTING joined as managing director, Cantor HOSPITALITY & TOURISM AlixPartners: Curtis Solsvig, 52, joined as Capital Partners. He had been a Dylan Hotel: David Chu, 46, joined as HOT JOBS managing director. He was formerly managing director at Presidio Financial director of sales and marketing. He had chief executive at CornerStone Partners. been director of sales and marketing at Propane. CharterMac: Robert L. Levy, 42, was Kimpton Hotels & Restaurants. Intellilink: Mayer G. Becker, 55, joined as promoted to chief financial officer from Travel Ad Network: John Saltnes,51, WANTED: PRESIDENT AND CEO principal consultant and practice leader. director of capital markets. joined as director of Southwest sales, a He had been managing director at Cowen Group Inc.: J. Kevin McCarthy, 41, new position. He was formerly a private ORGANIZATION Saint Vincent Catholic Medical Centers Interim Management. joined as general counsel. He was consultant. formerly a partner at Wilmer Cutler Timothy M. Springstead, 26, joined as JOB DESCRIPTION Overseeing the health care system’s strategy, ADVERTISING & COMMUNICATIONS Pickering Hale and Dorr. senior product-sales manager, a new direction and mission Renegade Marketing Group: Jeff Vinick, Lenox Advisors Inc.: Victor Goldman, 32, position. He had been a product MOST IMPORTANT TASKS Helping SVCMC emerge from bankruptcy and 39, joined as creative director. He was joined as senior vice president and manager at IAC. ensuring its financial stability and growth formerly associate creative director at director of sales. He had been an Merkley + Partners. associate managing partner at New LAW CREDENTIALS NEEDED More than a decade of leadership in a major England Financial. Bryan Cave: Dermot J. Sullivan, 34, was health system; fund-raising experience ARCHITECTURE & DESIGN Trenwith Securities: Leonard Brooks III, promoted to partner from associate, Scalamandré: Julie Kaminska, 36, was 47, joined as vice chairman. He had effective Jan. 1. SALARY Mid-six-figure range promoted to design director of fabrics been a managing director at UBS. Dechert: Stephen H. Bier, 43, was RECRUITER Korn/Ferry International from mill design director. promoted to partner from counsel, HIGH TECH & NEW MEDIA effective Jan. 1. DOWNSIDE Working in a competitive market, where fund raising is FINANCE & INSURANCE CMP Technology: Patrick Brennan, 52, David B. Denechaud, 34, was promoted difficult and costs are high Asset Management Finance Corp.: Gavin joined as vice president, international to partner from associate, effective W. McLeod, 33, joined as controller. He business development. He was formerly Jan. 1. UPSIDE Having the chance to revive a venerable New York institution was formerly a director at KPMG. group publisher at VNU Business Eric P.Iversen, 39, was promoted to Saint Vincent Catholic Medical Centers was created six years ago Cantor Fitzgerald: F.Burke Dempsey, 44, Media. partner from counsel, effective Jan. 1. through a merger of health centers in Brooklyn, Manhattan, Staten Island Adam J. Wasserman, 34, was promoted to partner from associate, effective and Queens. The system filed for bankruptcy last year and expects Jan. 1. to file its reorganization plan by the end of the year. It is projecting a Dickstein Shapiro: Mauro M. Wolfe, 39, net operating loss before restructuring costs of $46.1 million for 2006. joined as partner. He was formerly —AMANDA FUNG assistant U.S. attorney for the securities and health care fraud unit of the U.S. Attorney’s Office of Newark, N.J. Gibson Dunn & Crutcher: Nicholas Politan, 45, joined as partner. He had been a partner at Bingham McCutchen. Kenyon & Kenyon: Linda Shudy Lecomte, joined as partner. She was formerly a for the Hearst title. She was formerly 35, was promoted to partner from partner at Hogan & Hartson. design director at AARP The Magazine. counsel. Pillsbury Winthrop Shaw Pittman: Thomas Harcourt Trade Publishers: Andrea Schulz, Labaton Sucharow & Rudoff: Christopher Klaus Gump, 38, was promoted to 38, was promoted to editor in chief from J. McDonald, 43, was promoted to partner from senior associate, effective senior editor. partner from of counsel. Jan. 1, 2007. Ovation: Deborah Cuffaro, 53, joined as McDermott Will & Emery: Thomas Simpson Thacher & Bartlett: Kathryn senior vice president, advertising sales. Giegerich, 51, joined as partner. He had King Sudol, 32, was promoted to She was formerly a vice president at been a partner at Dewey Ballantine. member from associate. National Cable Communications. Morrison Cohen: Barbara Thomas, 46, George S. Wang, 31, was promoted to Smithsonian Magazine Publishing: Rosie member from associate. Walker, 38, was named marketing Sonnenschein Nath & Rosenthal: Denise director. She had been marketing M.Tormey, 51, was promoted to director at National Geographic Traveler managing partner from partner. magazine. NEW YORK METROPOLITAN AREA CHAPTER Weil Gotshal & Manges: Randi Singer,34, INTERNATIONAL SOCIETY OF was promoted to partner from associate, REAL ESTATE effective Jan. 1. CB Richard Ellis: Gerry C. Miovski, 36, CERTIFIED EMPLOYEE BENEFIT SPECIALISTS Jonathan Soler, 34, was promoted to joined as senior vice president. He had partner from associate, effective Jan. 1. been a director at Cushman & Salutes the following for achieving the designation of Certified Employee Benefit Specialist Wakefield. MEDIA & ENTERTAINMENT Massey Knakal: Geoffrey Bailey,35, American Express Publishing Corp.: Cara joined as director of sales. He was Phyllis A. Berger Selena Grados Kevin J. McCaffrey David, 49, was promoted to senior vice formerly a managing partner at Sitaro Milliman, Inc The Segal Company Road Carriers Local 707 president from vice president. Group Ltd. Welfare & Pension Funds Broadcast Music Inc.: Wardell Malloy,31, Dolores E. Blake Deborah Griffin was promoted to director of writer and SERVICES Local 1102 Health & Benefit Fund Diversified Investment Advisors Steven Noce publisher relations from associate ARD Group: Scott B. Cohen, 51, was Thurman L. Chestnutt, Jr. Arthur T. Grutt, Jr. Diversified Investment Advisors director. promoted to managing partner from Diversified Investment Advisors Cambridge Life Fader magazine: Alex Wagner, 29, was senior vice president. Matteo Renna promoted to editor in chief from Catholic Charities of the Archdioceses of Stephen A. Cooper James R. Hunt Assurant, Inc executive editor. New York: Shauna Rae Long,37,was Nemco Brokerage U.S. Department of Labor/EBSA Good Housekeeping magazine: Courtney appointed vice president of strategic Murphy, 38, was named design director agency services. She was formerly legal Daniel S. Driscoll Eric C. Kane Michele R. Schramm counsel, chief compliance officer and Consultant The Kooper Group Sabin Bermont & Gould LLP chief of enrollment at Health Plus PHSP Inc. Allison Grace Janine Keehan Pamela A. Yip Forest Electric Corp.: Salvatore Caputo, My HR Pro, Inc. Bertelsmann Inc. Eileen Fisher Inc. 46, was promoted to president and chief executive from chief operating officer. The following CEBS designees have earned Fellowship status Intralinks Inc.: Andrew Damico, 44, was promoted to chief operating officer from executive vice president. Michael Bayley John W. Gilday Sarah C. Richards Diversified Investment Advisors Electrical Industry Board Avon Products Inc. —adrianne pasquarelli

Leonard B. Comberiate Christine Nickelson EXECUTIVE PROMOTIONS Ciba Specialty Chemicals HR Dynamics Inc. Office & Retail Availabilities: Crain’s lists the promotion and hiring of New York area senior executives on a space-available basis, with priority given to positions in New York City. The CEBS Designation Program, co-sponsored by the 212.594.2700 The fastest way to get an announcement into International Foundation of Employee Benefit Plans and Crain’s is to submit the information online. The Wharton School of the University of Pennsylvania, is slgreen.com Go to www.newyorkbusiness.com and click on awarded to individuals who successfully complete eight “Executive Moves”; then click on the link to fill national examinations covering the design, management and administration of employee benefit plans. out the submission form. The Executive Moves Reaching New Heights. column is also available online. Crain’s cannot confirm receipt of listings or say when they will appear.

38 | Crain’s New York Business | December 18, 2006 BUSINESS LIVES TABLE TALK by Bob Lape three seasoning combinations. Blushing Geisha, where vodka and Moving to cooked seafood, I Jack Daniels meet. stand in awe of the quality of the toro tuna steak sautéed with white COMMENTS? [email protected] truffle oil and soy—the latter promptly obliterating the taste of the former.More successful is a dish BEST OF BOB LAPE of lobster sautéed in lemon curry sauce with tiger shrimp and bamboo Following are other restaurants with shoots. great food and stunning visuals. The highly attentive and helpful staff keeps the dazzle factor going Le Cirque ★ ★ ★ VALBELLA, a Conn. fave now in Manhattan. full blast through the evening. Even 151 E. 58th St. (between Third and desserts ($9 to $18) impress with the Lexington avenues), Manhattan. likes of wickedly intense chocolate (212) 644-0202. A new $18 million The River Room ★ ★ dishes, notably yuzu chocolate cake home for Sirio in the Bloomberg Riverbank State Park, Riverside with molten-chocolate fondant. Building. Warmth, elegance and Drive (at West 145th Street), Another glowing presentation piece chef Pierre Schaedelin’s steady Manhattan. (212) 491-1500. Park at is called The Bouquet: an iceberg of hand assure a special experience. the park for casual elegance, live wooden sticks with which to impale jazz, first-rate contemporary chocolate truffles and fresh fruit. Terrace in the Sky ★ ★ ★ Southern/soul cuisine and stun- Megu Midtown has a wealth of 400 W. 119th St. (between Morn- ning sunset scenes of the Hudson beverage options. It offers twice as ingside Drive and Amsterdam Ave- River and the George Washington many wines as Megu Tribeca and nue), Manhattan. (212) 666-9490. Bridge. ■ more than 60 sakes, ranging from The penthouse restaurant in Butler $38 for Harushika Tokimeki to Hall is as fresh as its red rose sym- $280 for Okunomatsu Junmai bol after 30 years. Nada Bernic’s Daiginjo. A sake savant with me romantic aerie showcases artful sang high praise of Wakatake French-Mediterranean cuisine. Onikoroshi, a $95 bottle whose ele- gance belies its translation as “de- Valbella ★ ★ ★ mon slayer.” 421 W. 13th St. (between Ninth photos: buck ennis There are scores of single malts. Avenue and Washington Street), LET THERE BE LIGHT: Illuminated pillars, backlit risers and a Swarovski chandelier define the The bar’s deft mixology shows to Manhattan. (212) 645-7777. environment of the midtown location, which has just 115 seats. advantage with cocktails that in- A dramatic presence in the meat- clude a kaffir lime gimlet, one packing district for one of named for founder Koji Imai, and Connecticut’s top-rated Italian others with monikers like Blessing restaurants. Owner David Ghatan- (the translation of Megu) and fard makes his case most effective- ly, offering thousands of wines, the Megu migrates finest ingredients and customer cosseting. to midtown M&K BUSINESS HEROES koi fish are painted on the black KNOWLEDGE | INTEGRITY | RESPONSIVENESS A calmer version glass walls of restrooms. Even risers of TriBeCa original; on stairs from the first to second floor are painted and backlit. Kobe served many Lighting up the highly stylized dishes and plates is a wide range of ways, great desserts fresh and cooked items in riveting and artful presentations. he new Megu Midtown Soft yellow light suffuses the in Donald Trump’s U.N. crushed ice under a sashimi combi- MEGU MIDTOWN Plaza has enough visual nation,as flowers and pickled ginger 845 U.N. Plaza and culinary pyrotech- commune with our choice of tuna, (First Avenue at East 47th Street) (212) 964-7777 nics to compete in salmon, sea bream, bonito, snapper ★★★ TTokyo’s summer Festival of Fire- and mussels. All are pristine, and works. It’s also more serene than the many are flown in from Tokyo’s pre- Megu downtown, which is all to the mier fresh-seafood market. CUISINE Japanese OUR M&K BUSINESS good. The crisp and spicy shrimp sushi WINES 490 choices, 30 by the HERO SECURES A LINE Megu Midtown, with 8,000 roll in five segments is the object of glass; 63 sakes square feet of space devoted to a the fresh wasabi grating we hadn’t OF CREDIT... THE mere 115 seats, sets a new bench- seen elsewhere, even in Japan. Seri- DRESS No code, but jackets feel CLIENT’S BUSINESS mark for so-called big-box restau- ous showmanship and wonderful right IS SAFE ONCE MORE. rants. Patrons, about half of whom eating. NOISE LEVEL Moderate are Japanese,scarcely know where to The same goes for a dish of baked PRICE RANGE $24-$180; six- look—at the full-length, lantern- unagi, the eel robed in avocado and course tasting, $70 shaped and illuminated pillars mentaiko,the spiced-up roe of cod or In the real world, we’re CPAs. sweeping 30 feet to the ceiling, or sea urchin.All three elements are re- WINE MARKUP 95%-265% To our clients, we’re Superheroes. the fresh whole wasabi being grated putedly aphrodisiacs, so it’s a won- CREDIT CARDS All major on a board covered in shark skin. der the meal progressed from that The Megu maestro Koji Imai point. RESERVATIONS and his Japanese design team, aptly Other early-course high points: Recommended called Glamorous,never leave a dec- carpaccio or tartare of lush Tajima HOURS Dinner, Sun.-Wed., MARCUM & KLIEGMAN LLP orative detail undone. beef—the gold standard of Kobe; a 5:30-10:30 p.m., Thurs.-Sat., Certified Public Accountants & Consultants A 500-pound Swarovski crystal- foie gras-loaded egg custard called 5:30- 11 p.m. and-wood chandelier graces the en- Chawanmushi a la Rossini; and foie ★★★★= Outstanding 800.921.0777 | www.mkllp.com trance,where diners may also stop at gras nuggets cooked on skewers. ★★★ the host station to borrow reading The restaurant serves 14 differ- = Excellent ★★= Very good glasses in various strengths. An ice- ent cuts and dishes of beef,from raw ★ NEW YORK MELVILLE GREENWICH GRAND CAYMAN sculpted Buddha does a daily melt- to cooked on a river stone or served = Good down atop the sushi bar, and large chateaubriand style ($180), with

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