Crain's New York Business

20120709-NEWS--0001-NAT-CCI-CN_-- 7/6/2012 7:21 PM Page 1

SUITS WITH SHORT COMMUTES Retailers sell menswear as fast as they can make it CRAIN’S® PAGE 3 NEW YORK BUSINESS

VOL. XXVIII, NO. 28 WWW.CRAINSNEWYORK.COM JULY 9-15, 2012 PRICE: $3.00

IN THE BOROUGHS BROOKLYN Atipping point for Coney Island Remember Times Square? The ‘People’s Playground’ is on the same trajectory

BY SHANE DIXON KAVANAUGH

So long, Sodom by the Sea. Fueled by a surge of city cash and visions of a year-round attraction, Coney Island is on the verge of a death-defying revival that has some utter- ing two words: Times Square. The gritty seaside strip has bounced back from the brink of desolation, and its boosters believe the best is yet to come.The honky-tonk boardwalk has shed most of its mangier haunts while preserving a few cherished venues, like Ruby’s Bar & Grill. Revamped roller coasters and new rides have lured record crowds to once-empty lots. Even seedy Surf Avenue has undergone a transforma- RIDING HIGH: tion—swapping rows of discount furniture stores for a Visitor counts at biker bar and a Grimaldi’s Pizzeria—that is again mak- Coney Island’s ing Coney Island a destination. amusement parks are the highest in “The momentum is real,” said Dick Zigun, the self- nearly 50 years. styled mayor of Coney Island and ringleader behind the neighborhood’s annual Mermaid Parade, which drew 750,000 people last month.“Coney’s hit a critical mass.” The tattoo-covered Mr. Zigun, who runs the arts See CONEY ISLAND on Page 22 buck ennis

HEALTH CARE REFORM IN THE MARKETS One likely ‘Obamacare’ Who’da thunk it? AIG, the side effect: Employees will bailed-out insurer, was NY’s lawyer up to ding employers best-performing financial NEWSPAPER over new regs P. 3 stock in the first half P. 4 20120709-NEWS--0002,0003-NAT-CCI-CN_-- 7/6/2012 7:22 PM Page 1

STATS AND THE CITY

RANGLING VOTES Rep. Charles Rangel appeared to have won the the 13th Congressional District’s primary, but as the final votes were tallied, the Harlem Democrat’s razor-thin margin became even slimmer, FYICRAINSNEWYORK.COM reflecting a major erosion of support for the 21-term congressman.

44% 56% News Corp. of voters chose picked Rep. among goes splitsville Charles five Rangel others fter long pooh-poohing the idea, News Corp. Chairman and CEO ARupert Murdoch announced that his media empire will split into two RUNNING NUMBERS publicly traded companies: One will focus on entertainment, the other on $332 3% $3.3M No.3 publishing. Mr. Murdoch said the AVG. DOMESTIC RISE IN AVERAGE VALUE OF U.S. NY’S RANK separation was not a way to insulate his airfare through department store flags imported in gambling NYC in 1Q, up 6% sales for five from China in revenue, with highly profitable Fox film and television over a year months ended 2011 $5.4B, topping assets against fallout from the News of newscom earlier in June, vs. Source: NJ by $1B Source: a year earlier Census Source: the World phone-hacking scandal or the broader publishing industry’s digital disruption. American Express Source: Financo Bureau Daily News “No doubt there will be those naysayers who see the announcement as an indication of concern about the long-term potential of the publishing industry,” said Mr. Murdoch, whose GOOD SHOW most cherished newspaper titles include The Wall Street Journal and the New York Post. The lights are shining bright on Broadway this year. No doubt, indeed. In the nine months through March, News Corp.’s entertainment business 25.4% Ⅲ % increase in ticket revenues, y-o-y saw revenues rise 9%, to $18.7 billion, and operating profits climb 23%, to $4.2 billion. Publishing revenues, meanwhile, fell 4%, to $6.2 billion, and operating profits plunged 22%, to $458 million. Mr. Murdoch, 81, insisted a new company would “finally highlight the relative strength” of his 12.5% 11.1% 11.6% publishing titles. Investors will have to hold their breath, since the separation will take about a 10.4% 9.8% year to complete. Mr. Murdoch will serve as chairman of both companies. News Corp. exec Chase Carey will helm the entertainment venture. A publishing chief has yet to be named. Jan. 2012 Feb. 2012 March 2012 April 2012 May 2012 June 2012 Source: The Broadway League CON ED LOCKOUT HEATS UP. Tem- dark. “At no time did I suspect my peratures and tempers reached a brother had stolen from anyone,” he HOORAY! ADDICTED TO NUMBERS? GET A DAILY DOSE AT @STATSANDTHECITY boiling point after negotiations said. … SHOPPERS, REJOICE! After between Consolidated Edison Inc. 25 years of wishing, Nordstrom’s and the union representing many of dreams are coming true.The THIS WEEK IN CRAIN’S its employees fell apart over Seattle-based retailer is planning to pensions, health care and wages. open its first real department store The company locked out 8,500 in Manhattan—in a skyscraper to be IN THE MARKETS------4 members of the Utility Workers built at 225 W. 57th St., two blocks THE 1,500-PERSON-CAPACITY THE INSIDER ------6 Union of America Local 1-2 and south of Columbus Circle.The McCarren called on 5,000 managers to company took its time finding an Park Pool finally reopened in Brooklyn SMALL BUSINESS ------after 28 years of delays. 8 temporarily replace them. Despite a ideal space with soaring ceilings and BUSINESS PEOPLE ------9 heat wave, only isolated outages an open-floor plan. Extell were reported as of last Friday; the Development Co. is slated to start OY VEY! EXECUTIVE MOVES ------9 utility reduced power to a number of on the site by 2013, with the store REAL ESTATE DEALS------11 Brooklyn neighborhoods as a safety expected to open by 2018. … CITY’S precaution. … SEE YA, DINGY OL’ ECONOMIC DEVELOPMENT CORP. OPINION ------12 PENN STATION. It may be makeover ADMITS A DOOZY. New York City’s GREG DAVID------13 time for Penn Station.The Metro- Economic Development Corp. said politan Transportation Authority in a settlement that it illegally FOR THE RECORD------14 hired a firm to propose ways to lobbied the City Council on behalf CLASSIFIEDS ------18 THE POOL’S REOPENING WAS MARRED optimize the flow of commuter of projects dear to Mayor Michael by scuffles with a lifeguard, police injuries traffic through Penn Station, Bloomberg’s redevelopment agenda. FROM AROUND THE CITY----23 and arrests. Undercover cops reportedly beautify the hub and improve its A three-year investigation found are standing by. REPORT THE ARTS NEW YORK, NEW YORK ------25 commercial amenities. A report that the city’s economic City’s historical museums SOURCE LUNCH------26 should be delivered at the end of the development arm had worked with enjoy rebirth with major year. … BERNIE’S BRO MAKES A related groups like the Flushing Quinn, approved zoning changes to OUT AND ABOUT ------renovations, high-profile 27 DEAL. Peter Madoff, younger Willets Point Corona Local limit the size of bank branches and exhibitions. P. 15 SNAPS------27 brother to Ponzi schemer Bernard Development Corp. and the Coney other large storefronts on the Upper Madoff, copped a plea with Island Development Corp. to appeal West Side.The measure, opposed prosecutors for his part in the epic to lawmakers to support projects in by many business groups, follows CORRECTIONS fraud. Peter Madoff pleaded guilty Willets Point, Queens, and Coney recent council votes to override Damien Cohen is the new chief marketing officer at law firm Holland & Knight. His name to charges he doctored documents Island, Brooklyn. State law mayoral vetoes of a “living wage” bill was misstated in the June 25 Executive Moves. that helped conceal the fraud that prohibits local development and an act that will create a board to Richard I. Lesser will become president and chief executive of the Boston Consulting wiped out close to $20 billion and corporations from lobbying. … A judge the “social responsibility” of Group, effective Jan. 1, 2013. He is currently the chairman of North and South America. ruined thousands of investors. But CITY COUNCIL TRIFECTA. The City banks that seek to do business with These facts were misstated in the June 25 Executive Moves. he said he was largely kept in the Council, led by Speaker Christine the city. —lauren elkies Jim Goldman, chief executive of Godiva Chocolatier, said in regard to working with the hunger-relief organization Feed, “This is by far the most extensive thing we’ve ever done in terms of cause-related programming.” The quote was printed incorrectly in the June 25 “Sacking hunger globally.” STORIES TO WATCH THIS WEEK vol.xxviii,no.28,July 9,2012—Crain’s New York Business (issn 8756-789x) is published weekly, except for double issues the weeks of July Fourth, Labor Day and Christmas, by Crain Communications Inc., 711 Third Ave., New York, NY 10017. Periodicals postage paid at New July 10: Business July 10 and 12: July 12: NYC Taxi July 13: How many York, N.Y., and additional mailing offices. Postmaster: Send address changes to: Crain’s New groups in Queens Second-quarter and Limousine billions did traders York Business, Circulation Department, 1155 Gratiot Avenue, Detroit, MI 48207-2912. for subscriber service: Call (877) 824-9379. Fax (313) 446-6777.$3.00 a copy, $99.95 one launch a six-month Manhattan office- Commission is at JPMorgan Chase year, $179.95 two years. (GST No. 13676-0444-RT) ©Entire contents copyright 2012 by Crain Communications Inc. All rights reserved. food, retail and lease and residential expected to vote for lose? 2Q earnings tourism push. rent data released. a fare increase. may tell the tale.

2 | Crain’s New York Business | July 9, 2012 City Hall: Supersize midtown’s east side Massive upzoning

SEEKING A FACTORY effort to encourage SPACE: Kent Kilroe’s bigger towers for Freemans Sporting Club emphasizes a “handmade aging office district locally” philosophy at its stores. Sales are up by double digits. BY THERESA AGOVINO

With 14 Fortune 500 headquarters clustered in the office towers on midtown’s east side near Grand Central Terminal—the greatest density of such companies in the U.S.—the area looms large in the international business world. But fearing that midtown east’s aging building stock will diminish the district’s corporate allure, the Bloomberg administration is finalizing a rezoning blueprint that would encourage office teardowns and the construction of even bigger commercial towers with premium amenities.It may also include a proposal said to be favored by Planning Commissioner Amanda Burden:

buck ennis turning Vanderbilt Avenue, the short block west of Grand Central, into a pedestrian-only street. City officials are set to release details this week of the proposal to up- More menswear made here zone the area with 80 million square feet of office space. Sources said officials hadn’t determined the size philosophy.“It’s important to us to support local limits on new buildings, although As sales surge for suits and such, the profits are manufacturing.” discussions considered expansions FSC is not the only local menswear brand ranging from 22% to more than handsome for retailers turned manufacturers ringing up sales, thanks to the category’s first 100% greater than what’s now al- meaningful growth spurt in years. Sales of men’s lowed, depending on location and Sporting Club is scouting city locations for man- clothing nationwide jumped 4.9%, to $56.5 bil- current zoning. The larger sizes BY ADRIANNE PASQUARELLI ufacturing space and plans to start production lion, for the 12 months ended in March, outpac- would likely be allowed only on within the next 12 to 18 months. ing womenswear, which grew 4.2% in the same midtown avenues and on the streets These days, it’s all about the gentleman. With “We’re not going to be the guys who make period, according to research firm NPD Group closest to Grand Central, which sits sales of suits,ties and other menswear on fire,one things in China with an American flag on the Inc.The uptick is paying off handsomely for sev- beneath more than 1 million square local shop specializing in debonair garb is grow- front,”said Kent Kilroe,an owner and managing eral companies that produce most of their mer- feet of unused air rights. ing so quickly that it’s planning to open its own director of Lower East Side-based FSC, where chandise in the Big Apple—such proximity pro- See PLANS on Page 21 factory—possibly in the very garment center sales are up by double digits and whose compa- vides quality control, and allows for smaller that many fashion firms are fleeing. Freemans ny marketing emphasizes a “handmade locally” See MENSWEAR on Page 24 IN THE REZONE Nothing is final, but here is the rough outline of where city officials hope to One ‘Obamacare’ certainty: lawsuits encourage new office development. 57th St.

to take companies to court not only velopment) are currently writing them,” said Stewart Manela, head Lawyers say health for violations of the massive and hundreds of pages of regulations of the labor, employment and care law will spur complex law, but also that will apply as OSHA groups at law firm Arent for technical issues— health care reform is Fox. “[ACA] is sure to be tested.” employees to sue such as documenta- Affordable implemented over over technical issues tion of benefits, the next six years. Potential land mines 48th St. change notices and Care Act ‘is “Whenever legis- A labyrinth of regulations lay- the interpretation of lation creates new ered atop existing laws—such as Grand BY JUDY MESSINA arcane provisions— sure to be obligations for em- anti-discrimination statutes and Central that workers may ployers and rights for ERISA, which governs employee Bryant Terminal While constitutional scholars and claim are preventing tested’ employees, in- benefits—the ACA is filled with Park media pundits explore the political them from getting evitably there are moving parts and potential land 40th St. fallout of the Supreme Court’s de- benefits they deserve. disputes about exact- mines for companies that aren’t 39th St. cision on the Affordable Care Act, No fewer than ly what the legisla- paying attention, said benefits attorneys are girding for a more four federal agencies tion means, how far lawyers. Not only are there new re- practical concern: the health care (the IRS,the Department of Labor, the rights extend and whether em- porting, record-keeping and bene- Park Ave. Fifth Ave. law’s potential to spawn a flood of the Department of Health and Hu- ployers’ individual decisions fit the fits requirements, violations of Third Ave. Second Ave. legal suits against employers. man Services and even the Depart- expectations of employees and the which can trigger fines, but the Madison Ave. Lexington Ave. They are expecting employees ment of Housing and Urban De- plaintiff lawyers that represent See EMPLOYEE on Page 20

July 9, 2012 | Crain’s New York Business | 3 IN THE NY’s frozen-yogurt market MARKETS swirls with new entrants by Aaron Elstein

shuttered due to oversaturation. As franchisors flood “There’s going to be a shakeout,” the area, shops try said restaurant consultant Arlene Spiegel,noting that Red Mango has topping each other closed units here in recent years. CEO ROBERT “The people who are going to be left BENMOSCHE with unique gimmicks wants to resume standing are the ones who really dif- selling insurance ferentiate themselves.” under the once-toxic BY ADRIANNE PASQUARELLI brand name AIG. Like ‘an Apple store with yogurt’ Several out-of-town frozen yogurt One vying to be the most unique chains are choosing to beat sum- is Let’s Yo!, a Colts Neck, N.J.- mer’s heat with expansive New York based self-serve chain that plans to City rollouts. Franchisors including open 60 stores in New York City and

Let’s Yo! Yogurt, Yogurtland and Long Island within the next five newsbloomberg Menchie’s are each dipping into the years. Founder Eric Casaburi, who Big Apple, with dozens of planned also launched Retro Fitness, a 7- locations. year-old gym chain, is banking on “The next great market is New technological splash to lure cus- AIG comes back York,” said Larry Sidoti, vice presi- Even Warren tomers.Each location,which ranges dent of development and operations in size from 1,300 to 2,800 square at Irvine, Calif.-based Yogurtland, Buffett’s Dairy feet, is outfitted with iPads and flat- from the dead which has 190 shops in the U.S., screen TVs that consistently refresh Mexico and Guam, and expects to Queen plans Let’s Yo!’s Facebook and Twitter t’s another bummer of a summer on the Street. JPMorgan have 65 metro-area stores by 2017. feeds. The 14-unit company, which Chase could see half a year’s profits consumed by its “It’s always been on our radar.” outposts here plans to also offer European-style Even Dairy Queen, the 6,000- waffles starting this month, has se- massive trading loss when it reports quarterly results this I Facebook unit international chain owned by cured stores in Bay Ridge and Park week. ’s bungled initial public offering all but killed Warren Buffett’s Berkshire Hath- Slope, Brooklyn. Both sites should the market for new stock deals. Corporate mergers are away Inc.,recently announced plans open by the end of the summer. running at their slowest pace in nine years. to open a handful of outposts in the perts wonder how even a city as big “We call ourselves an Apple store city, its first foray into the territory. as New York—and one with a long with yogurt,” said Mr. Casaburi. Yet amid all the gloom, there’s a shockingly bright light: winter—can sustain such a plethora “Self-serve is only going to be pop- American International Group.The $182 billion mother of all Plenty of competitors of newcomers. And though out-of- ular for so long—you have to have New stores will have to contend home consumption of the frozen other models.” bailed-out corporate basket cases Business has improved so much with existing neighbors. New York treat in the U.S. was up 6% for the By contrast, Menchie’s, a Los was the best-performing financial that CEO Robert Benmosche said is already host to the likes of 12 months ended in April, accord- Angeles-based franchisor, follows a stock in the Bloomberg/Crain’s in- last month his company would re- Pinkberry, Red Mango, 16 Handles ing to research firm NPD Group more basic approach. The 195-unit dex of 200 New York-area compa- sume selling P&C insurance under and many smaller shops,so some ex- Inc., some stores in the area have See FROZEN YOGURT on Page 24 nies in the first half—up 35%, to the AIG banner, ditching the Char- around $31 a share last week. tis brand adopted in 2009. Its The rally is important to AIG’s SunAmerica financial planning and largest shareholder, Uncle Sam, life insurance unit will be renamed which needs the insurer’s stock trad- AIG Life & Retirement. Yes, AIG ing above $28.73 to sell its position feels its name is no longer toxic. at a profit. And selling is just what Even the mortgage-related secu- Gearing Up for Your Next the government rities that AIG stu- has been doing SHRINKING pidly guaranteed Corporate Event or Holiday Party? over the past year. and was nearly de- In May,it unloaded U.S. STAKE stroyed by are fad- another 189 mil- ing into memory. Crain’s New York Business Special Section lion shares, driving 96% During the first down its stake to 84% quarter, the gov- 61% from 96% in 72% 61% ernment sold all of early 2011. the remaining se- Corporate Events & The underlying curities in one trends at AIG sug- portfolio it held at a Holiday Parties 2012 gest the govern- $2.8 billion gain. Jan. May March May ment should be 2011 2011 2012 2012 Meanwhile, a $24 able to continue billion loan made Dates reflect when U.S. gov’t sold AIG shares. profitably selling Source: Bloomberg during the darkest Expert Tips its stake in the firm. days of 2008 has AIG’s biggest business—prop- shrunk to $9 billion because the val- erty and casualty insurance—is enue of AIG’s once-dodgy assets in- Advice joying powerful tailwinds, with rev- creased and the government sold enue in the U.S.jumping 11% in the them at a profit. Vendor Options first quarter. In part, that reflects While AIG has a long way to go, how P&C insurers are raising prices it looks as though this former mess after paying out large claims post- will be able to stand on its own And More Hurricane Irene and other disasters. again in a few years. More impor- Once rates start rising (known in the tant,it’s becoming conceivable that insurance world as “hard cycle”) the taxpayers could actually make Issue Date: September 10, 2012 Close Date: August 23, 2012 trend can continue for years. money from the rescue of AIG. Ⅲ For advertising opportunities, please contact Trish Henry at AIG’S STOCK PRICE [email protected] or (212) 210-0711. $35

30 $31.56 25

20 12/11/11 2/27/12 4/30/12 7/6/12 Source: Bloomberg

4 | Crain’s New York Business | July 9, 2012

THE Why Albany let a tax break die INSIDER by Andrew J. Hawkins and Shane Dixon Kavanaugh Last-minute sources close to the negotiations. transparency rule for a complicated The linkage explains why the housing bill negotiated secretly as maneuvering to governor balked at allowing a quick the session ended. As a result, the extension of an uncontroversial $430 million condo/co-op tax break expand a bill irked tax break. expired. Governor Cuomo On June 20, the penultimate day of the session,Assembly Democrats ‘Backroom deal’ tried to attach to the condo/co-op “It was just a backroom deal, and BY ANDREW J. HAWKINS abatement a separate set of measures we didn’t want to go back on the amending the city’s J-51 tax-credit message of necessity [pledge],” an A deal to extend a popular property- program, the 421-a tax exemption administration source said, refer- tax break for co-op and condo own- and loft-tenant laws, according to a ring to the governor’s promise to ers in the waning days of the session source. But there wasn’t time for the forgo the waiting period only if ab- in Albany fell apart when Gov. An- bill to “age” for the required three solutely necessary. drew Cuomo rejected the Legisla- days before legislators left town,and But condo and co-op owners will ture’s attempt to tie it to several oth- Mr. Cuomo objected to issuing a not pay the price for Albany’s negli- er housing programs, according to “message of necessity” waiving that gence. Mr. Cuomo, the Bloomberg newscom administration and legislative leaders have a handshake agreement to ex- When candidates are consultants tend the tax break later this year,when the Legislature returns to Albany for veteran consultant of city politics predicts that the experi- an as-yet-unscheduled special ses- ence of Public Advocate Bill de Blasio (above) as a campaign sion. The city would then apply the strategist—he ran Hillary Clinton’s 2000 bid for Senate and tax break retroactively to July 1. advised Andrew Cuomo’s 2002 campaign for governor—will Whether the more controversial hurt him in the 2013 mayoral race. The reason: When can- issues of J-51, 421-a and loft laws Adidates think they know better than their consultants, campaigns can will also be taken up remains to get pulled in different directions. be seen. The source pointed to Brooklyn Councilman Lew Fidler, who has “There is no package that has steered many candidates into office but lost his own bid for state Senate. been agreed on at this time,” the ad- “He thinks of himself as his own political operative, and people don’t ministration source said. want to deal with him. Same thing with de Blasio. He’s very difficult to Lawmakers, for their part, dis- talk to,” the consultant said. “You can’t be your own lawyer, you can’t be pute the notion that Mr. Cuomo your own psychiatrist, and you can’t be your own political operative.” was surprised by the sudden inclu- Mr. Fidler fell short by fewer than 20 votes after missing a chunk of sion of amendments to housing pro- the Senate campaign for health reasons. “When you’ve lost the closest grams other than the condo/co-op election in the history of New York state, there are a lot of reasons,” the tax break. councilman said. “I am sure my pigheadedness was one.” “The question was getting a A source close to Mr. de Blasio said, “It’s hard to see how working for

newscom message of necessity,” said Assem- Hillary Clinton and Andrew Cuomo is anything but an asset for Bill.” GOV. ANDREW CUOMO and Assembly Speaker Sheldon Silver are expected to restore a tax blyman Vito Lopez, chairman of break for co-ops and condos, but the fate of several other real-estate programs remains unclear. See TAX on Page 24 New leverage for City Council will need to sanction a zoning change for the Willets Point foes new version. Opponents of the city’s plan to Council members are unlikely redevelop Willets Point will try to to squash the project, but could take advantage of the Economic use their newly gained leverage to Development Corp.’s admission ask for more community benefits. last week that it illegally lobbied That decision will largely fall to for the project. A spokesman for a Democrat Julissa Ferreras, who group of property owners resisting represents Willets Point. eviction said EDC’s acknowl- edgement means the city should Barclays backlash rescind its 2008 plan to remake Willets, which was approved by The resignation last week of the City Council. A lawsuit is Barclays chief Robert Diamond over possible, the spokesman said. a rate-rigging scandal gave critics But experts say it’s unlikely of the Atlantic that EDC’s confession, made in a Yards project fresh settlement with state Attorney ammunition.The General Eric Schneiderman, would Rev. Clinton Miller be grounds for overturning the (left), head of the Willets decision. influential Brown “I don’t see a court invalidating Memorial Baptist the approvals because of what Church in may have been misconduct in the Clinton Hill, ripped the British advocacy,” said Kenneth Fisher,a bank, whose name adorns the new land-use attorney and former Brooklyn arena and nearby Brooklyn councilman. “I can’t subway stations. think of any precedent for that.” “If Barclays engages in this If the legal argument fails, type of banking behavior, how can opponents could still play the they ever be a welcomed political card. The admission of corporate partner in Brooklyn illegal lobbying could bolster their and beyond?” Rev. Miller said in argument that the project is an email to his followers, vowing tainted and should be killed. that “demonstrations and protests Because the redevelopment against the Barclays Center and planned by the Related Cos. and its events will continue.” Barclays Sterling Equities deviates from what did not respond to a request for was approved four years ago, the comment. Ⅲ

For daily political and government news, subscribe to CRAIN’S INSIDER @ www.crainsnewyork.com/insider

6 | Crain’s New York Business | July 9, 2012 Ready to take the pledge?

Sustainability of cials are heading to Orlando. Retailers, manufacturers, restaurant chains and other businesses alike need practical solutions for their waste and recycling issues. Join your peers in Orlando for information you can implement at your business. We’ve skipped the long-range environmental forecasting. Hands-on, useful knowledge awaits you at the Corporate Recycling & Waste Conference.

REGISTER BEFORE AGENDA JULY 13, 2012 AND SAVE OVER $250. MONDAY SEPT. 10 Earn CEU’s from Penn State University MORNING SESSIONS: • Recycling 150: Recycling Economics • Recycling 311: Speci cations & RFPs AFTERNOON SESSIONS: • Recycling 356: Recycling Economics II • Recycling 340: Electronics Recovery Tour a corporation to learn how it manages its waste stream Rub green elbows at the evening Welcome Reception

TUESDAY, SEPT. 11 & WEDNESDAY, SEPT. 12 Explore over 50 exhibitors’ products or services in the exhibit hall Hear from over 20 industry experts during the general session TOPICS INCLUDE: • Commercial Single Stream Recycling: Best Practices, LEARN MORE Risks, Bene ts and Case Studies www.crwcconference.com • Waste Audits: A Case Study • Working with Your Vendors: A Waste Diversion Case Study • E and U Waste PRESENTED BY • Food Waste/Organics Case Study • ABCs of Recycling and Commodity Management • Implementing Your Sustainability Program: It Can Be Done! • Safety: How to Engage Your Employees

Connect with peers during the evening Networking Reception Celebrate with the 2012 Green Corporate Citizen Award winners & EXHIBITORS SPONSORS

PLATINUM

GOLD SILVER SMALL BUSINESS J-school grads turn to startup scene With traditional help from their families. Revenues need,” Ms. Fiumi noted, “are our and, later that year, co-founded are now “in the five figures,” accord- laptops, cameras and the skills we Contently, a platform that links up jobs scarce, newly ing to Ms. Fiumi. “We made the learned at school.” vetted journalists with publishers. right move.” However, startups with content- To support himself while enrolled as minted journalists try oriented sites sometimes have a an undergraduate at Brigham Low barriers to entry harder time raising money than oth- Young University-Idaho, Mr. Snow launching businesses Ms. Fiumi and Ms. Khayata are er Web companies, according to Je- started several online businesses,in- among a small but growing number remy Caplan,director of education at cluding one designing websites for BY ANNE FIELD of recent jour- the Tow-Knight Center for Entre- small business owners and another nalism-school TIPS preneurial Journalism at the CUNY designing infographics, which he lettra Fiumi and Léa graduates who Graduate School of Journalism. continued running after he graduat- 1. NETWORK Khayata didn’t set out are eschewing EFFECTIVELY The “Investors aren’t as interested in ed in 2007. to become digital entre- conventional ca- NY Tech Meetup content as in companies providing “I knew I wanted to build a com- preneurs. But a year reer paths and is a good place to platforms that are more scalable,” pany,” Mr. Snow said. “I just wasn’t ago, as the 10-month choosing in- raise a digital Mr. Caplan said. sure what it would be.” buck ennis STAYING NIMBLE: Granny Cart Productions’ master’s degree program at Colum- stead to launch startup’s profile. Many such entrepreneurs credit His company now has 12 em- E 2. THINK BIG Léa Khayata (left) and Elettra Fiumi are using bia University’s Graduate School of their own digital at least some of their success so far ployees and is generating “about six Equity investors their journalism skills to grow their business. Journalism neared its end, the two startups in New tend to back to being located in New York, with figures a month,” according to Mr. classmates asked a professor for ad- York. ventures with the its thriving digital scene. About a Snow. In December, Contently vice about their next steps after “The tradi- potential to grow week after attending a recent raised $2 million from Lightbank, ative agencies, and in August the graduation. His suggestion: Try tional progres- much larger. venture-capital networking event, a Chicago-based venture-capital two friends decided to start a com- forming a startup leveraging their sion of working 3. FIND A for example, a connection whom firm, and a group of angel investors. pany producing videos for corporate skills in digital journalism, and your way up PAYCHECK Ms. Khayata met there emailed her clients,as well as designing apps and You may need a Passion for videos pays off video production in particular. from a small steady side gig about a colleague who needed a websites. It seemed like a good idea to the newspaper to a that covers the video to be produced. Since then, After Lance Steagall graduated Called Collabo!, it’s started to friends,who had worked on projects bigger one isn’t rent early on. she’s done four videos for that client. in 2010 from NYU with a joint bring in money, pulling in “under together during the school year. what it once “I can’t imagine starting this busi- M.A. in journalism and Latin $100,000 in revenues,” according to “We decided to give ourselves a year was,” said Rick Edmonds, media ness anywhere else,” she said. American studies, he worked as a Mr. Steagall. Ⅲ to try it out,” Ms. Fiumi said. business analyst at the Poynter In- In some cases, J-school grads freelance videographer and online So, in September, the two stitute in St. Petersburg, Fla. turned entrepreneurs had startup editor. In his spare time, he and a To sign up for Crain’s formed a Manhattan-based compa- And technological advances experience before entering their friend made videos of rock groups SMALL BUSINESS newsletter, go to ny called Granny Cart Productions, mean the barriers to entering the programs. Take Shane Snow, who they liked in Brooklyn. Those proj- www.crainsnewyork.com/smallbiz. drawing on personal savings and digital arena can be low: “All we graduated from Columbia in 2010 ects eventually caught the eye of cre-

GE Capital LIKE A BANK: WE CAN LOAN YOU MONEY. UNLIKE A BANK: WE CAN ALSO LOAN YOU BOB. Bob Morton At GE Capital, we’re not just bankers, we’re builders. So not only can we give you GE Lean Process smart financing, we can also bring you expertise from across GE. Consider Specialist what we did for The Great Courses, a leader in educational media for lifelong learning. Bob and a GE team showed them how to apply our Lean Process techniques to streamline their operations in ways that can save over $1 million. Chances are we have someone like Bob with the know-how to help make your business more competitive – and we’re happy to share. Stop just banking. And start building. GE works. GECapital.com

8 | Crain’s New York Business | July 9, 2012 BUSINESS 94% of 2011 Columbia Law School graduates have jobs requiring law degrees vs. 55% nationwide PEOPLE Source: American Bar Association

EXECUTIVE MOVES

Pegasus Solutions: David Millili, 41, has been promoted to chief executive of the technology services firm. He was previously chief Web officer and chief executive of Open Hospitality, a division of Pegasus. Sonnier and Castle: Adam F.Weiss, 52, joined the catering company as chief executive. He was previously a principal at Strategies for Catering Success. Wireless Generation: Larry Berger, 44, was promoted to executive chairman of the education-technology company, a newly created position. He was previously chief executive. Josh Reibel, 45, was promoted to chief executive. He was previously president and chief operating officer. Zachary Silverstein, 44, was promoted to chief operating officer. He was previously senior vice president. Newedge: Antoine Babule, 41, was promoted to chief executive and regional head for the Americas at the brokerage firm. He was previously chief administrative officer for Newedge Americas. Citibank: William Brown, 45, was named the bank’s market president for MORGAN New York, a newly created position. JOHNSTON has built He was previously the bank’s up JetBlue’s social- managing director and division media profile. manager of New York City and Boston. JPMorgan Asset Management: Robert buck ennis Stark, 36, joined the bank as head of GOTHAM GIGS strategy and business development. He was previously global head of strategy and mergers and acquisitions at Russell Investments. Plane speaking at JetBlue Advertising Women of New York: Carol Watson, 52, was named president of the association. She is also the president and founder of Tangerin- A young airline executive soars, by way of the Twittersphere Watson Inc. BlackRock Inc.: Susan Wagner, 51, For Morgan Johnston, his first day on the job at compared with American Airlines’ 300,000—Mr. joined the money management ‘Social company’s board of directors. She was JetBlue Airways’ corporate communications Johnston has built a widely recognized social- previously vice chairman for the firm. media department presented an opportunity to reinvent media name for JetBlue. Facebook, YouTube and Rubin Museum of Art: Patrick Sears, 61, has been promoted to executive the position. ¶ It was Valentine’s Day 2007, when Flickr are also on his radar. And fewer than 10% director at the museum. He was is our an ice storm left passengers stranded for 10 hours of mentions are negative, he said. ¶ By carefully previously deputy director. Linda Dunne, 59, joined the museum canary in on the tarmac at JFK.Thrown straight into the navigating the Twittersphere, Mr. Johnston can as director of museum services and recovery efforts, Mr. Johnston pitched YouTube as keep tabs on disgruntled fliers, communicate with operations, a newly created position. the coal a way for the airline to communicate directly with JetBlue employees and respond to the occasional She was previously acting director at the American Folk Art Museum. mine’ its customers. ¶ Now, as manager of corporate obnoxious request. (After the incident involving RAPP: Zihla Salinas, communications, the 34-year-old has dealt with a the pilot, one customer, who wasn’t even on the 33, was promoted by the marketing number of PR nightmares—from the infamous flight, asked for a future upgrade as a safety agency to chief flight attendant who made a dramatic exit by precaution.) ¶ Mr. Johnston, who enjoys buying development officer, emergency slide, beer in hand, to a pilot who had a new Apple products, shooting video and—what U.S., a newly created position. breakdown on board and a resulting 10-passenger else—traveling, is slowly learning to put down the She was previously lawsuit—via the Internet. “Social media is our gadgets when he goes home to his wife in senior vice president of strategy and relationship lead. canary in the coal mine,” said Mr. Johnston, a Westchester. ¶ “She’s mildly OK with my Remark Media Inc.: Valerie Brown, 34, Vermont native and self-proclaimed tech nerd. ¶ technology geekiness,” he said. “But she does joined the digital media firm as senior director of marketing. She was Twitter has become his company’s site of choice. expect when we’re traveling that my BlackBerry previously director of digital By drawing more than 1.6 million followers— is away.” —ken m. christensen See EXECUTIVE MOVES on Page 10

July 9, 2012 | Crain’s New York Business | 9 BUSINESS PEOPLE

Division’s analytic and cyber units with director at Huge. EXECUTIVE MOVES the New York Police Department. Japan Society Gallery: Miwako Tezuka, CORPORATE LADDER Dana Irvis, 37, joined as director. She 41, joined the gallery as director. She Continued from Page 7 was previously a prosecutor with the was previously an associate curator at the marketing for Time Out North Major Economic Crimes Bureau at the Asia Society. PERELLA TAPS VERIZON VET America. New York County district attorney’s Hidrock Realty Inc.: Joseph Ginex, 40, Kimberly Leon, 35, joined as national office. joined the firm as director of NEARLY A YEAR after stepping down from the helm of Verizon Communications sales director. She was previously sales BrightLine: James development. He was previously director Inc., Ivan Seidenberg will join financial services firm Perella Weinberg director at CFO Publishing. Pearson, 45, joined the of acquisitions at SDS Investments/The Partners as an advisory partner. Mr. Seidenberg, the telecommunications Imperium Partners Group: Vincent S. interactive television Sapir Organization. Capone, 45, joined the investment solutions provider as Food & Wine: Vince Kooch, 37, joined the giant’s former chairman and chief executive, will help guide Perella as it management firm as chief operating director of corporate publishing brand as account director. He plots its expansion. officer and general counsel. He was communications. He was previously director of affluent “We continue to prioritize the strategic growth of our franchise,” said previously a partner in the corporate and was previously director outreach at Agency Sacks. Joseph Perella, the 6-year-old company’s chairman and chief executive, in a securities practice at Reed Smith. of corporate Association of Junior Leagues statement. “We are delighted that Ivan has decided to join the firm as an American Thoracic Society: International: Jo Anne communications at Laurie Dodge, 45, was advisory partner to assist with this task.” Barry, 48, joined the medical association the Wonderfactory. promoted to director of marketing and as chief financial officer. She was Protiviti: Shawn Seasongood, 37, joined development. She was previously Perella Weinberg was founded through a previously chief financial officer at the the consulting firm as managing director director of marketing and marriage between Peter Weinberg, the former New York Restoration Project. of the insurance and financial services communications. CEO of Goldman Sachs International, and Mr. Hellerman Baretz Communications: Anna practice. He was previously a partner Harris & Houghteling: Kevin O’Brien, 60, Perella, a former Morgan Stanley vice Tenuta, 23, was promoted to senior and managing director at Grant joined the law firm as a name partner. chairman. account executive at the public relations Thornton. He was previously a litigation partner at During his 45-year tenure at Verizon, Mr. agency. She was previously account NewOak: Maureen Stewart, 49, joined the Dechert. executive. firm as managing director of mortgage TD Bank: Nelson P. Seidenberg, 65, helped complete several Fareportal Inc.: Pete Howard, 53, joined credit and compliance services, a newly Ornelas, 40, joined the acquisitions, including an $8.5 billion deal the travel company as chief marketing created position. She was previously bank as vice president with MCI Inc. in 2006 and a $28.1 officer. He was previously a senior vice senior audit manager at Bank of and commercial billion deal with Alltel Corp. in 2009. president at Staples. America Corp. relationship manager In 2010, he earned $17.9 million as DOAR Litigation Point Foundation: David Garza, 35, in commercial lending the 15th-highest-paid chief Consulting: Gerard joined the scholarship-granting in New York City. He executive in the New York area, Britton, 53, joined the organization as development director, was previously vice litigation services East. He was previously director of president, business according to Crain’s Fortunate company as managing institutional giving at GMHC. banking, at Bank of America Corp. 100 list. director. He was Horizon Engineering Associates: Daniel —emily laermer So far this year, Perella previously chief Watson, 45, joined the commissioning Weinberg has hired five partners EXECUTIVE PROMOTIONS executive at Topiary firm as director of field services. He was and two managing directors, Discovery. previously commissioning manager at The fastest way to get an announcement into including former executives from K2 Global Consulting: Mitch Silber, 42, First New York Partners. Crain’s is to submit online. Fill out the form joined the risk-solutions firm as Rokkan: Bryan Le, 24, joined the digital at www.crainsnewyork.com/section/ Merrill Lynch, Morgan Stanley Smith executive managing director. He was ad agency as creative director, a newly executive_moves. The Executive Moves column Barney and Goldman Sachs. previously director of the Intelligence created position. He was previously art is also available online. —EMILY LAERMER bloomberg news DOWNLOAD CRAIN’S BOOK OF LISTS The online version of Crain’s Book of Lists includes all of the rankings that appeared in the print and digital editions of Crain’s New York Business.

Crain’s lists spotlight and rank the key players within the multitude of industries serving NYC, and feature industry vertical rankings, executive contacts, revenue and growth metrics, number of employees, and much more.

Use this unique resource to uncover new sales leads, connect with industry leaders, gather competitive intelligence and benchmark your business.

Download the 2012 Book of Lists at: crainsnewyork.com/lists

10 | Crain’s New York Business | July 9, 2012 REAL ESTATE DEALS

BARE BONES 32 W. 18TH ST. 399 PARK AVE. 450 NINTH AVE. Financial firm ASKING RENT; TERM: ASKING RENT; ASKING RENT; TERM: $75 a square foot; TERM: $312,495 a $120 a square foot; 10 years month; 11 years 10 years is trading up SQUARE FEET: 4,400 SQUARE FEET: SQUARE FEET: 1,800 on ground floor and in 39,500 on ground square feet on ground basement and second floors floor and in basement t least one financial company is getting ready to do some hir- TENANT; REP: Lithe TENANT; REP: Epoch TENANT; REP: Albano ing. London-based commodities trading firm ED&F Man has Method; Alan Bonett Holding Corp.; Ira Salon; Julia Maksimova signed a 22,000-square-foot deal at 2 Grand Central Tower, be- of Adams & Co. Schuman of Studley of Square Foot Realty tween Lexington and Third avenues,sources said.That is near- LANDLORD; REP: YHD 18; Jeffrey LANDLORD; REP: Boston Properties; LANDLORD; REP: Noam Management; ly six times more space than the company currently rents at 33 Roseman and Amy Zhen of Newmark CBRE Group Inc. Howard Aaron and Aaron Gavios of Whitehall St. An emergency generator left behind by the midtown space’s Grubb Knight Frank Retail Square Foot Realty A BACK STORY: The investment company former tenant was a key factor in the company’s decision to rent in the build- BACK STORY: This is the first New York will use the space as its new corporate BACK STORY: This is the first New York ing, sources said. City outlet of the Philadelphia-based headquarters and will relocate from 640 business venture for Venezuelan The asking rent for the 10-year lease, which covers the entire 42nd floor fitness center that uses cheerleading Fifth Ave. in February 2013, according to beautician Enrique Albano, who operated and about a quarter, or 4,000 square feet, of the 41st floor, was $75 a square methods to get members in shape. CityBizList. his own salon in his native country. foot.The trading firm plans to move into the 44-story building, also known as 140 E.42nd St.,in the fall. CBRE Group Inc. brokers Paul Amrich and Neil King represented the landlord, Rockwood Capital. CBRE brokers Brian Hay and Matt Saker negotiated on behalf of ED&F Man. All the brokers declined to comment. —theresa agovino Merger leads to a new HQ Newly formed construction and project-management consultancy Turner & Townsend Ferzan Robbins has completed an important project: signing the lease for its new headquarters office. The firm inked a seven- year lease for 12,000 square feet at 11 E. 26th St. The asking rent for the entire fifth-floor space was $40 per square foot. The firm will move into its new space on Sept. 1. In October, Ferzan Robbins & Associates, a project-management firm,merged with the New York operations of Turner & Townsend, a construction consultant. Because Ferzan’s lease for its office at 220 Fifth Ave. was expiring this year, the combined firm took the opportunity to look for larger space, said Daniel Kahn, a broker at the Kaufman Or- ganization who represented the tenant.Turner & Townsend didn’t have a New York office before the merger. “They were focused on the Flat- iron district and lower Chelsea to have the cachet of the new tech cor- ridor,” Mr. Kahn said. At first, the company also wanted an office with a roof deck to en- tertain clients, but it compromised, Mr. Kahn added. “They are a little [more] north than they wanted to be, but they do have a view of Madi- son Square Park.” Mr.Kahn did not disclose the taking rent but noted that the tenant got the right price by agreeing to build out the space itself.“They do interior space engineering and planning, so it was an easy decision,” he said. The landlord, East Twenty Sixth Associates, was represented by James Buslik of Adams & Co. —amanda fung

July 9, 2012 | Crain’s New York Business | 11 OPINION CRAIN’S NEW YORK BUSINESS Fixing a sickly health system editor in chief Rance Crain publisher, vp Jill R. Kaplan ll New Yorkers, whether peeved or pleased Medicare costs). Single patients can run up charges totaling EDITORIAL editor Glenn Coleman that the Supreme Court upheld the hundreds of thousands of dollars per year. deputy managing editors Valerie Block, Affordable Care Act, should support the Because the two programs don’t work well with each Erik Ipsen assistant managing editors Erik Engquist, state’s attempts to take advantage of other, their shared customers get disjointed and costly care. Jeremy Smerd “Obamacare.”The savings to taxpayers Past attempts to coordinate the two programs failed because senior producer, news Elisabeth Butler Cordova news producer Lauren Elkies could be substantial. Businesses would the state lacked the authority it needed. State officials say contributing editor Elaine Pofeldt Obamacare finally gives them the flexibility—and possibly columnists Greg David, Alair Townsend benefit as well if the state and providers of crain’s health pulse editor Barbara Benson health care succeed in their quest to improve its delivery. the money—to fix this madness. senior reporters Theresa Agovino, We spend an extraordinary amount on medical care in One promising solution: health homes.These are teams Aaron Elstein, Lisa Fickenscher, Matthew Flamm, A Daniel Massey, Miriam Kreinin Souccar this state. Medicaid alone will eat up $54 billion in New of service providers who work together to help troubled reporters Amanda Fung, Andrew J. Hawkins, Shane Dixon Kavanaugh, Adrianne Pasquarelli York this year, or about what Intel generated in revenues last patients get their acts together.The federal government will web reporter, producer Ian Thomas year. Billions more are spent on care for current and former pay New York 90% of art director Steven Krupinski state workers. Costs have been increasing unsustainably. the cost of its health- deputy art director Carolyn McClain New York can staff photographer Buck Ennis The state, with cooperation from the health care industry, home pilot project, copy desk chief Steve Noveck copy editor Thaddeus Rutkowski is pursuing reforms that could save the federal take advantage which could be scaled data editor Suzanne Panara government—which typically pays half the state’s Medicaid up nationwide. assistant data editor Emily Laermer of reform researchers Eva Saviano, Amy Stern tab—$17.1 billion over five years.The Cuomo There are lots of interns Esthena Brutten, Ken Christensen, administration is asking Washington to send New York to cut costs similar examples Cara Eisenpress, Emily Lundeen, Mary Shell $10 billion of that savings to implement the reforms. It’s an where the feds will pay ONLINE AND INTERACTIVE SERVICES investment that should pay for itself many times over. the state to pioneer general manager, online & e-commerce strategy Kira Bindrim The fee-for-service system attempts to compensate better and cheaper senior web developer, interactive providers for everything they do, but it is riddled with waste. care—not just for Chris O’Donnell Look at the 700,000 elderly, poor or disabled New Yorkers disabled addicts but for a broad spectrum of patients.These ADVERTISING, MARKETING AND PRODUCTION models, if they work, would likely become the new standard, advertising director Trish Henry enrolled in both Medicare and Medicaid. You’ll find them in senior account managers Irene Bar-Am, emergency rooms across the state running up ungodly bills, saving businesses money on their insurance premiums. Courtney McCombs, Sheryl Rose, Suzanne Wilson account executive Jill Bottomley Kunkes only to return a few weeks later. Many suffer from multiple The divisive legal fight over Obamacare is over. New York sales coordinator Danielle Wiener chronic illnesses.They account for 14% of Medicaid should unite on using the Affordable Care Act to transform newsletter product manager Alexis Sinclair credit Todd J. Masura (313-446-6097) enrollees but 36% of the program’s costs (and 48% of our costly health care system. director, audience development Michael O’Connor senior marketing manager Catherine Schutten CRAIN’S ONLINE POLL COMMENTS event producer Courtney Williams reprint sales manager Lauren Melesio production and pre-press director Michael Corsi advertising production manager Money-market funds: A-OK Suzanne Fleischman Wies TO SUBSCRIBE: ‘LONG ON assets. Portfolios were sound, think that money-market funds For print and digital subscriptions or customer FEARMONGERING, but the global liquidity crisis skirt regulations. Not true.The service, e-mail [email protected] prevented the funds from industry has worked with the or call 877-824-9379 (in the U.S. and Canada) or SHORT ON FACTS’ 313-446-0450 (all other locations). $3.00 a copy for selling assets. Securities and Exchange the print edition; or $99.95 one year, $179.95 two Aaron Elstein’s In the Markets The industry requested Commission and has been the years, for print subscriptions with digital access. bloomberg newsbloomberg column suggesting “danger” for liquidity in the system, rather subject of strict regulations for www.crainsnewyork.com/subscribe DO YOU AGREE WITH THE SUPREME money-market-fund customers than federal insurance and decades. In 2010, the SEC TO ADVERTISE: COURT’S ‘OBAMACARE’ RULING? ( June 25) is long on certainly not a bailout. In fact, enacted enhanced regulations to Contact Advertising Director Trish Henry at fearmongering and hyperbole money-market-fund improve the credit quality, [email protected] or call 212-210-0711. Yes. “In the end, this health plan will benefit but short on facts. His companies paid $1.2 billion to maturity, liquidity and transpar- www.crainsnewyork.com/advertise most Americans.” rendering of what happened in the U.S.Treasury for insurance ency of money-market funds. 2008 is just plain wrong. that was not asked for and They were put to an early FOR INFORMATION ON OUR EVENTS: No. “It does too little to ease employers’ The meltdown occurred never used. Looking at the test in the summer of 2011. Contact Event Producer Courtney Williams at health care costs.” because certain financial reality of the situation, one While money-market-fund [email protected] or 212-210-0257. www.crainsnewyork.com/events institutions placed enormously could even say that money- assets declined 10% during this Date of poll: June 28 leveraged bets on the subprime market funds were a victim, not period of uncertainty, there TO CONTACT THE NEWSROOM: 633 votes housing market, amplified in a culprit, of the financial crisis. were no issues. Under the 711 Third Ave., New York, NY 10017-4036 many cases by derivatives and Further, the one fund that amended SEC rules, money- editorial phone: 212.210.0277 fax 212.210.0799 by the Federal Reserve’s easy- “broke the buck” did so in Sep- market funds had all the cash Entire contents ©copyright 2012 Crain Communications Inc. money policy. When those bets tember 2008, after an unprece- they needed to cover the All rights reserved. ®CityBusiness is a registered trademark of MCP Inc., used under license agreement. 54% went bad, the complex web of dented period that saw the redemption requests. The Yes counterparty arrangements collapse of Lehman Brothers, a reality is that money-market PUBLISHED BY CRAIN COMMUNICATIONS INC. threatened to cause a general number of major financial funds are well regulated, and chairman Keith E. Crain collapse of the system. institutions on the brink and the system, particularly in light president Rance Crain Money-market funds re- inconsistent responses to these of the 2010 amendments, is secretary Merrilee Crain quired liquid markets, not tax events by government. When running smoothly. treasurer Mary Kay Crain executive vp, operations William Morrow 46% dollars, to weather the financial the dust settled, investors in the —john w. mcgonigle senior vp, group publisher Gloria Scoby No storm. Unlike banks and other Reserve Primary Fund lost just a Vice president and group vp, technology, circulation, financial-services companies, penny on the dollar, and chief legal officer manufacturing Robert C. Adams money-market funds did not taxpayers did not lose a dime. Federated Investors Inc. vp/production, manufacturing David Kamis Paul Dalpiaz need to get rid of any toxic Mr. Elstein also seems to Pittsburgh chief information officer founder G.D. Crain Jr. (1885-1973) chairman Mrs. G.D. Crain Jr. (1911-1996) FOR THIS WEEK’S QUESTIONS: CRAIN’S WELCOMES SUBMISSIONS to its opinion pages. Send letters to [email protected]. Send columns of 475 Go to www.crainsnewyork.com/poll to have your say. words or fewer to [email protected]. Please include the writer’s name, company, address and telephone number.

12 | Crain’s New York Business | July 9, 2012 GREG DAVID when the company demanded Con Ed dispute sheds changes in pensions and health care COLLECTION LITIGATION & JUDGMENT ENFORCEMENT benefits not unlike those being sought by Con Ed. The workers returned two weeks light on labor reality later when they realized the risk they All types of debt collection matters and general had taken. And so far it has been a commercial litigation, trials, and appeals. good decision. Eleven months later, n the good old days of economic prosperity, unions there is still no contract,and Verizon hasn’t won a single concession. went on strike when employers were unwilling to agree AGGRESSIVE - RESOURCEFUL - EXPERIENCED - RESPONSIVE to increase wages or improve benefits. In today’s era of The Con Ed situation is particularly telling because of two unique economic difficulties, companies take the initiative factors. Con Ed remains a regulated when they try to reduce costs, especially when the utility,with its prices set by the Pub- wages and benefits they offer are out of line with the rest of the lic Service Commission and based 100 LAFAYETTE STREET - SUITE 601 | NEW YORK, NY 10013 I on its costs. So it does—and could 212-608-5300 | WWW.DORAZIO-LAW.COM private sector. continue to—pass along those pen- That’s what is at the heart of the dispute between Consoli- sion costs to you and me. In addition, natural-gas prices dated Edison and its workers. Con and know that any settlement will have plunged so dramatically (be- Ed locked out its workers when no involve concessions. cause of hydrofracking,for all of you deal could be reached after the con- Con Ed seems to have taken its who oppose that drilling system) tract expired. that customer bills are actually Let’s start with the issues. Con falling. Con Ed does not need to Ed is one of the few remaining ma- The utility mollify angry consumers. jor companies to offer a classic de- So why lock out the workers and fined-benefit pension plan rather needs to get run the obvious risks of a major than a 401(k). In such retirement blackout that would cripple the plans, workers receive a pension for its costs in company’s reputation and cost it life, the company’s liabilities are un- hundreds of millions of dollars? The limited and the costs rise as retirees line in order answer is that Con Ed knows its fu- live longer. Con Ed wants to move ture is uncertain. its benefits close to the retirement to survive Last week, a $32 billion merger plans that virtually every other busi- made Charlotte, N.C.-based Duke ness offers. Power the largest power company Then there are the tactics. In the in the nation. Its chief executive new labor environment, unions are noted there were 100 large utilities seeking to preserve their current clue from last summer’s big labor in the United States in 1992. To- contracts, not improve them. It is in confrontation between Verizon and day, there are 53, he said, and con- their best interest to keep working its unions. Verizon workers walked solidation will continue. under the current arrangements out on Aug.7 in what was the largest To survive, Con Ed will have to rather than strike and both lose pay strike in the country in four years get its costs in line.

MARK WAGAR

MyHealth Coach offers one- When the doc says, on-one help from a licensed, registered nurse,with tools and resources to help members manage their health condition. ‘You’re prediabetic’ Healthy Lifestyles helps members create a well-being plan ven though I’m within layup distance of based on the results of a health as- sessment. This plan serves to Medicare, in my mind’s eye I’m still that 220- strengthen connections between pound, 6-foot-8, lean and mean basketball play- members and physicians, improv- er I was back in 1971, when I played forward on ing compliance with recommend- ed medication regimens and Ohio State’s Big Ten championship team.A year screenings. Eand a half ago, that delusion was checked when results from my A few months ago, I was vastly annual physical showed that while I might still be mean, I was relieved to get a clean bill of health certainly no longer lean. I was also prediabetic. from my doctor. I am officially no longer prediabetic. During the eight years I’ve run with diabetes has more than dou- What did I do right? I got my- Empire BlueCross BlueShield, em- bled since 1994 and is likely to dou- self a primary-care physician, who ployers have increasingly come to ble again by 2050. coordinates my healthcare. I lost depend on us for programs aimed at Diabetes is the third-costliest 5% of my body weight by eating improving the health of their em- physical health condition for em- more fruits, vegetables and smaller ployees, such that workplace pro- ployers. As a result, business and la- portions of high-calorie foods and ductivity is maximized and health bor leaders should leverage pro- beverages. And I’m walking for at care costs lowered. grams offered by their insurer to least 30 minutes a day, five days a So how did I feel about being di- educate and support their predia- week. agnosed as prediabetic—a condi- betic and diabetic employees. So, am I still 220 pounds? No. tion that is largely preventable? Here are some examples of pro- Can I still slam-dunk? Maybe Let’s just say terribly uneasy, on grams offered by Empire, but keep once.But,frankly,I do feel like I’ve both a personal and professional in mind that most insurers should made it back into the winner’s level. have offerings of this type as well: circle. The city’s Department of Health Our newly launched PC2 ini- tells us that diabetes is the most rap- tiative will broaden opportunities Mark Wagar is president and chief idly growing chronic disease of our for members to have a primary-care executive of Empire BlueCross BlueShield, time, affecting one in 12 New York- physician coordinate their care and New York’s largest health benefits ers. The number of New Yorkers improve health outcomes. company.

July 9, 2012 | Crain’s New York Business | 13 FOR THE RECORD

downloaded for free at City Record ● The CUNY School of Professional ranging from $53.09 to $53.61 between ABOUT THIS SECTION online or may be purchased at the Studies signed a 15-year lease for 70,000 June 14 and June 18, in a transaction DCAS Agency Purchasing Unit, 1 square feet at 116 W. 32nd St. The worth $78,890,600. He now indirectly FOR THE RECORD is a weekly listing of information from the public record that Centre St., 18th floor, for $35. Only school will occupy space on floors one holds 1,386,310 shares. can help businesspeople in the New York area find opportunities, potential company checks and money orders, through four, and 10. The tenant was new clients and updates on competitors. payable to DCAS, are accepted. For represented by Newmark Grubb Knight ● Sirius XM Radio Inc. (SIRI) To ask questions or get more information on this section, contact Crain’s further information, contact Louis Frank’s Howard Kesseler and Jimmy Mel Karmazin, chief executive and research department at [email protected]. Pastore at (212) 386-0454 or Kuhn. The landlord, Pan Am Equities, director, exercised options on [email protected]. was represented by Newmark Grubb 7,600,000 shares of common stock Knight Frank’s Jeffrey Rosenblatt. at $0.43 between June 15 and June 18, ● Department of Parks and Recreation The asking rent was in the $40s per in a transaction worth $3,268,000. NEW IN TOWN BANKRUPTCIES Seeks competitive sealed bids by 10:30 square foot. During the same period, he sold a.m. on July 25 for the reconstruction of 7,600,000 shares of common stock Companies that would like to have details The following listings are selected from the the sidewalk and perimeter fence at ● Yelp signed a seven-year lease for at prices ranging from $1.83 to of openings published should submit most recent available filings by companies Jardin de la Familia, located on East 20,000 square feet at 100-104 Fifth Ave. $1.85, in a transaction worth descriptions following this format to seeking bankruptcy protection in the 171st Street, between Washington and The tenant was represented by CBRE $13,968,260. He now directly holds [email protected], with Southern and Eastern Districts of New Park avenues, Bronx. Bid documents are Group Inc.’s Paul Milunec and Scott 8,823,950 shares. “New in Town” in the subject line. York. Information was obtained from U.S. available for $25 in the blueprint room, Gamber. The landlord, the Kaufman Bankruptcy Court records available on Olmsted Center, Flushing Meadows Organization and Invesco Real Estate, ● CBS Corp. (CBS) ● BrandYourself.com Public Access to Court Electronic Records. Corona Park, Queens, from 8 a.m. to 3 was represented by Grant Greenspan of Leslie Moonves, president, chief 111 Eighth Ave., Manhattan Listings are in alphabetical order. p.m. The fee is payable by company the Kaufman Organization. The asking executive and director, exercised options The Syracuse-based tech startup has check or money order to the City of rent was $55 per square foot. on 250,000 shares of common stock at opened an office in Google’s new ● AC Solutions Realty Inc. New York, Parks and Recreation. To $13.43 on June 15, in a transaction Chelsea building. The company earned 2841 Sampson Ave., Bronx make inquiries, contact Juan Alban at RETAIL worth $3,357,500. On the same day, the Top Startup Award at the SXSW Filed for Chapter 7 bankruptcy pro- (718) 760-6771 or juan.alban@ ● Jimmy Choo has signed a lease for he sold 250,000 shares of common Accelerator event. tection on June 25. The filing cites parks.nyc.gov. 7,600 square feet at 681 Fifth Ave. The stock at $31.62 in a transaction worth estimated liabilities of $500,001 to landlord, Metropole, was represented by $7,905,400. He now directly holds ● Custom House $1 million and estimated assets of GOODS AND SERVICES Cushman & Wakefield Inc.’s Ashlea 2,064,010 shares. 139 Montague St., Brooklyn $500,001 to $1 million. ● City University of New York Aaron, Cynthia Foster, Mark Mandell, The bar and restaurant opened in Seeks competitive sealed bids by 11 a.m. Bruce Mosler and Ethan Silverstein. ● PVH Corp. (PVH) the former La Traviata space in ● SBVH Corp. on July 18 for the printing of the 2012- The tenant was represented in-house. Fred Gehring, director and chief Brooklyn Heights. It will serve Irish 868 Bedford Ave., Brooklyn 2014 continuing-education newspaper The asking rent for the penthouse space executive of Tommy Hilfiger Group pub fare. Filed for Chapter 7 bankruptcy protec- insert for Kingsborough Community was $115 per square foot. and chief executive of international operations of the company, sold 116,864 tion on June 20.The filing cites esti- College. To make inquiries or to obtain shares of common stock at prices ● Monroe Credit Advisors mated liabilities of $100,001 to $500,000 bid documents, contact Lynn Relay at ranging from $80.13 to $82.10 between 200 Park Ave., Manhattan and estimated assets of $0 to $50,000. (718) 368-4602 or lrelay@kbcc STOCK TRANSACTIONS June 20 and June 21, in a transaction The financial services company opened a .cuny.edu. worth $9,424,222. He now indirectly location in the MetLife Building. It also ● Shirly Mirly Following are recent insider transactions at holds 612,584 shares. has offices in Boston and Chicago. 330 E. 38th St., Manhattan ● Department of Education New York’s largest publicly held companies Filed for Chapter 11 bankruptcy Seeks competitive sealed bids by 4 p.m. filed with the Securities and Exchange ● Time Warner Cable Inc. (TWC) ● Zimmermann protection on June 19. The filing cites on July 16 for the provision of heavy- Commission by executives and major Glenn Britt, chairman and chief 87 Mercer St., Manhattan estimated liabilities of $500,001 to duty cafeteria and kitchen equipment. shareholders. Listings are in order of executive, exercised options on 75,000 Designer Nicky Zimmermann now $1 million and estimated assets of To obtain bid documents or make transaction value.The information was shares of common stock at prices ranging from $23.48 to $35.60 on June offers the clothing line at her new $500,001 to $1 million. inquiries, email vendorhotline@schools obtained from Thomson Reuters. 15, in a transaction worth $2,366,006. boutique in SoHo. The designer also has .nyc.gov or call (718) 935-3000. The bid On the same day, he sold 75,000 shares ● ● stores in Los Angeles and Australia. Transylvania Realty opening date is July 17 at 11 a.m. Tiffany & Co. (TIF) of common stock at $77.80 in a 47-51 40th St., Queens Peter May, director, sold 1,380,000 transaction worth $5,835,275. He now Filed for Chapter 11 bankruptcy ● Department of Transportation shares of common stock at prices directly holds 128,398 shares. Ⅲ COMPANY MOVES protection on June 21. The filing cites Requests proposals by 2 p.m. on July 17 estimated liabilities of $10,000,001 to for independent monitoring of lead- Companies that would like to have details $50 million and estimated assets of paint removal and environmental of recent moves published should submit $10,000,001 to $50 million. The remediation operations at various DEALS ROUNDUP descriptions following this format to creditor with an unsecured claim is bridges citywide. Bid documents can be [email protected], with Daniel Dumitrescu, owed $300,000. obtained by calling the bid window at TRANSACTION SIZE “Company Moves” in the subject line. (212) 839-9435. A printed copy can be SELLER/TARGET (IN MILLIONS) BUYERS/INVESTORS TRANSACTION TYPE ● Wall Street Restaurant obtained for a $50 deposit, payable by Kohlberg Kravis Roberts $6,665.5 Walgreen Co. (45%) SB M&A ● Enertiv 7110 Third Ave., Brooklyn certified check or money order made out & Co. (Manhattan)/ 137 Varick St., Manhattan Filed for Chapter 11 bankruptcy to the New York City Department of Alliance Boots The energy monitoring systems and protection on June 22. The filing cites Transportation. To make inquiries, Eurohypo AG/ $722.0 U.S. Bancorp, The Blackstone SB M&A software company joined the New York estimated liabilities of $100,001 to contact Gail Hatchett at Eurohypo AG, Group (Manhattan), Wells Fargo Bank, $760 million National Association City Accelerator for a Clean and $500,000 and estimated assets of $0 to (212) 839-9308. Eurosic SA/ $638.9 JPMorgan Asset Management SB M&A Renewable Economy, or ACRE, a green $50,000. The creditors with the largest 52 Hoche and Avant Holdings Inc. (Manhattan) business incubator. unsecured claims are Vicky Smigiatos, REAL ESTATE DEALS OppenheimerFunds Inc. $442.9 Yamana Gold Inc. SB M&A owed $21,000; the state Department of (Manhattan)/Extorre ● Nike Labor, owed $14,817.26; and National Companies that would like to have details Gold Mines 156 Fifth Ave., Manhattan Grid, owed $10,597.16. of their recent transactions appear in these BlackRock Inc. (Manhattan) $321.9 Genesis HealthCare Corp. SB M&A The athletic apparel company opened a listings should email descriptions following Clinton Group Inc., (Manhattan), Columbia store in the Flatiron district. The retailer GOVERNMENT CONTRACT this format to IThomas@crainsnewyork. Management Investment also has locations in SoHo and midtown OPPORTUNITIES com, with “Real estate transaction” in the Advisers, Cannell Capital, east. subject line, or enter them online at Nantahala Capital Partners Following are selected contract crainsnewyork.com/submitadeal. Deals are Brigade Capital Management ● (Manhattan)/Sun Seattle’s Best opportunities recently announced by New listed in order of square footage. Healthcare Group Inc. 253 Livingston St., Brooklyn York City agencies.To learn how to sell JD Carlisle, DLJ Real $280.0 Equity Residential SB M&A The Starbucks-owned coffee company goods and services to city government, visit COMMERCIAL Estate Capital Partners opened a location in downtown www.nyc.gov/selltonyc. For a searchable ● The City of New York signed a 20- (Manhattan)/Premier NYC Brooklyn. Its only other New York City database of current procurement notices, year lease renewal covering 372,500 Luxury outpost is at 100 W. 33rd St. in midtown visit www.nyc.gov/cityrecord. Listings are square feet at 100 Church St. The city’s Not disclosed/Amar Holding $263.2 Global Emerging Markets (Manhattan) GCI Manhattan. alphabetical by category and department. law division will occupy space on floors Insight Venture Partners $196.8 Sage Group Plc (75%) SB M&A two through six, floor 20 and a portion (Manhattan), Fund FIP VII /Folhamatic Tecnologia ● Sullivan Street Bakery CONSTRUCTION SERVICES of the building’s concourse level. The $150.0 ● Department of Citywide Administrative Not disclosed/ BlackRock Inc. (Manhattan) GCI 236 Ninth Ave., Manhattan tenant was represented by CBRE Group Banc Alliance Inc. Blue Mountain Capital Management Jim Lahey opened the second location Services Inc.’s Michael Geoghegan and John (Manhattan), individual investors of his bakery café two doors up from his Seeks competitive sealed bids by 11:30 Morrill. The landlord, SL Green Realty Selected deals announced for the week ended June 23 involving companies in metro New York. pizzeria, called Co.The café offers baked a.m. on July 20 for general contracting, Corp., was represented by Shearman & GCI: Growth capital investment represents new money invested in a company for a minority goods and deli items. Sullivan Street HVAC, and electrical and plumbing Sterling’s Christopher Smith and Peter stake. SB M&A: Strategic buyer M&A represents a minority or majority acquisition of existing shares of a company without the participation of a financial buyer. Bakery is headquartered at 533 W. renovation on the eighth floor at Strauss. The asking rent at the building source: capitaliq 47th St. 1 Centre St. The bid document can be was $38 per square foot.

14 | Crain’s New York Business | July 9, 2012 THE ARTS ‘What I see looking at the arts ... is that we are trying to do business as usual, when—in fact—the usual is gone. There is a new usual.’ REPORT —Philanthropist Agnes Gund, Page 17 Museums dream big with sleepovers

Institutions gain revenue, new audiences with after-hours events

BY HILARY POTKEWITZ

Going on a flashlight scavenger hunt among dinosaur skeletons, or bunking on a Navy cot beside a fighter jet, or climbing Mount Everest sounds like the best summer camp ever. But these activities take place several times a year close to home—when New York City museums should be closed for the night. Facing an aging membership base and competition from the Internet and video games, local cultural institutions have REVIVAL LEADERS: had to step up Susan Henshaw Jones their efforts to of the Museum of the win over kids City of New York (left) and attract and Louise Mirrer of new members. the New-York Historical Shrinking Society. grants and do- 22 nations put NUMBER of even more slumber parties pressure on in- hosted by the stitutions to Museum of Natural History come up with per year innovative istockphoto ways to bring in money.The situation has spawned a whole cate- buck ennis gory of extreme after-hours programming. “They’re making use of the museum at a time when it would nor- mally be closed, and these events really have a substantial beneficial effect,” said museum consultant History in the making Alan Friedman. “When you pick your favorite exhibit and set up 2004. For a nonprofit that just a few HISTORIC part to help from the city and state, your sleeping bag next to it,it will City historical years ago was on life support, the but mostly to new presidents who always be something special to museums raise funds, plaque tells the story of the money and FIGURES have reached out for broader audi- you. It builds a relationship.” leadership behind its rebirth. ences and to trustees who have That flashlight scavenger renovate, draw Similarly, across Central Park, the bankrolled the efforts. In 2000, His- hunt is part of the American Mu- crowds again Museum of the City of New York was torical Society board members were seum of Natural History’s sleep- in dire straits nearly a decade ago $10 0M expected to give at least $2,000 annu- over program, “Night at the Mu- when a move to new quarters and a AMOUNT RAISED BY N-Y ally. Today, that number is $100,000, seum,” launched in 2006. Geared HISTORICAL SOCIETY SINCE BY JUDITH MESSINA potential merger both failed to mate- 2004 except for scholars, who contribute toward kids ages 6 to 13, at a cost rialize. Today, a $90 million renova- intellectual capital. of $109 to $120 per person, the In the light-filled entry of the New- tion—one-third financed by “The Historical Society had just massive slumber party has grown York Historical Society, which last trustees—is nearly complete, and the begun to have a far more ambitious so popular that the museum hosts November reopened to rave reviews, museum is packing in visitors at rates $90M outlook, with new board members 22 per year. Around 450 people is a plaque listing the names of major not seen before. AMOUNT SPENT ON who had passion for the mission and attend each one. donors to the institution, which has Both institutions have come back RENOVATION BY MUSEUM OF for American history, and the deep The museum declined to give raised a record $100 million since from those desperate times, thanks in THE CITY OF NEW YORK See HISTORY on Page 16 See MUSEUMS on Page 16

July 9, 2012 | Crain’s New York Business | 15 REPORT THE ARTS History in the making

Continued from Page 15 trustees, including vice chairman nancial straits,but it had one advan- pockets to give it the kind of resources emeritus of AllianceBernstein tage over the Historical Society. it deserved,” said Historical Society Roger Hertog, who shared their While it is a private institution, it is President Louise Mirrer, describing passion for American history. the official museum of the city and the time of her arrival in 2004. In 2004, the board hired Ms. a member of the cultural institutions It’s remarkable, moreover, that Mirrer as president and mapped out group whose buildings are owned by these two institutions have accom- an ambitious plan to showcase the city and which receive public plished their turnarounds in the American history through a New funds for their operation.Neverthe- redux middle of a recession and in a decade York City lens. The museum began less, in 2003 when President Susan in which similar institutions contin- Henshaw Jones arrived at the muse- MONEY ON EXHIBIT ue to struggle. um,an elegant mansion at Fifth Av- GIVEN TODAY’S ANTI-WALL STREET FERVOR, few people would think money “It is unusual that both of them Officials at the enue and 103rd Street, she found a would be worthy of a museum of its own. But New York City, the seat of global are in a position of relative dilapidated facility with no air con- finance, has a museum of money—and where else but on Wall Street? strength,” said Kenneth T. Jackson, Museum of the ditioning and a boiler that barely Founded in response to the stock market crash of Oct. 19, 1987, when the a professor of history at Columbia worked. Conditions for maintain- Dow plunged nearly 23%, the Museum of American Finance occupies three University,a board member and for- City of New York ing its collection, including 52,000 floors and 30,000 square feet at the old Bank of New York building at 48 Wall mer president of the Historical So- historical photographs, were so bad St. Its $3.4 million in annual revenue comes mostly from individuals, ciety. “The U.S. as a whole has are ‘balanced- that other museums refused to lend and board members include well-known financiers like turnaround specialist 10,000 historical societies, way it their valuable objects. Wilbur Ross and eminences like Harvard historian Niall Ferguson. more than it can support, and most budget maniacs’ ‘A new vision’ The museum has permanent exhibits on financial markets, money, are in trouble and clinging to life.” banking and the first Treasury secretary, Alexander Hamilton. With financial Indeed, both were lackluster in- A former head of the New York literacy as one of its missions, the museum provides tours for schoolkids and stitutions overshadowed in New City Landmarks Conservancy who York by world-class venues like the had spent eight years expanding the runs a finance academy for high schoolers. Metropolitan Museum of Art and programs and audience of the Na- Despite its Wall Street origins, the museum grapples with many of the American Museum of Natural to mount expensive, thought- tional Building Museum in Wash- the same problems that plague other cultural institutions. In 2009, History, whose savvy marketing and provoking shows about the city’s ington, D.C., Ms. Henshaw Jones after the credit crisis, contributions fell 21%, to $2.2 million. Since then, blockbuster programming attract history. The first, on Alexander convinced the board and the city however, its fortunes have improved. In 2010, the museum raised $3.2 millions of visitors annually. Their Hamilton, attracted a record num- that a turnaround was possible. million from donations and grants, an increase of 45% over 2009. priceless collections were imprisoned ber of visitors,only to be followed by Some trustees left, but others At the same time, attendance is on the upswing. Some 40,000 people in buildings that were inadequate, “Slavery in New York” in 2005, stepped up, contributing nearly $30 entered its doors last year, up from 34,000 in 2010. Its steady attendance and they were presided over by less which set yet another record with million to fund the renovation that growth is a sign, said Deputy Director Kristin Aguilera, that it is gaining ambitious boards, say observers of 250,000 visitors. created new climate-controlled gal- recognition. the New York culture scene. Since then,the Historical Society leries, classrooms, office space and “With finance on the front page of the news, people realize they need to has raised more than $100 million, storage areas and allowed thousands understand the subject,” she said. Turning point replenished its endowment, now at of artifacts to be taken out of storage —JUDITH MESSINA The New-York Historical Soci- $38 million, and completed a three- and put on display. The city put up ety, for example, was founded 200 year renovation that, among other another $60 million. years ago as a kind of private club.In things,made the entrance more wel- “We have a new vision,” said were in 2003, and new standards re- mission affordable,between $10 and the early 1990s, nearly bankrupt, it coming and created a children’s his- board chair and hedge fund manag- quire every program to be fully $15. The Historical Society’s en- closed its galleries and library and tory museum, one of the first in the er James Dinan. “We expect board funded. She estimates attendance dowment is modest, and its exhibi- sold $18 million worth of art to stay country. Ms. Mirrer said she expects members to be engaged.” will reach 250,000 this year,up from tion space remains limited. And afloat. A series of leaders, including to balance the museum’s $18 million In the meantime, Ms. Henshaw 60,000 in 2002. while the Museum of the City of former Presidents Betsy Gotbaum annual budget this fiscal year. A sec- Jones focused on more expensive, “We are balanced-budget mani- New York gets public funds, the city and Mr. Jackson, helped it survive, ond capital campaign to bolster the compelling programming, looking acs,” said Ms. Henshaw Jones. “We has steadily reduced its contribution, while the city and state paid for endowment is being planned. at New York City and its recent past, have to have a surplus because we down to $1 million a year from a some capital improvements. “We really believed that if you including exhibitions and books on don’t have an endowment.” peak of $1.3 million. The museum’s The turning point came in 2002, could make American history come elected leaders, such as Daniel The lack of an endowment is a planned permanent exhibit, a the- when Richard Gilder and Lewis alive and be relevant to their lives to- Patrick Moynihan, Ed Koch and cautionary note. As successful as matic timeline of the history of New Lehrman, founders of the Gilder day,[people] would find greater sig- John Lindsay. She reached out to these two museums have been in York,is likely to cost between $8 mil- Lehrman Institute of American nificance in the study of history,” new audiences and to the museum’s claiming their place among New lion and $10 million.The museum is History, joined the board, moved said board chair Mr. Hertog. “Our neighbors, making admission free York City’s cultural institutions,they still raising the money. their collection of 60,000 docu- intuition [is] being borne out in the for residents of Harlem, East still face challenges. Both have to “It will get done, but it’s a ques- ments to the Historical Society and marketplace.” Harlem and Washington Heights. continually raise money for operation of how long it’s going to take,” built a vault to house them. They In the 1990s, the Museum of the Last year, revenues were $17 mil- tions in a stressed economy, even as said Mr. Dinan. “We’re in a differ- recruited other deep-pocketed City of New York faced similar fi- lion, nearly three times what they they strain to keep the price of ad- ent world right now.” Ⅲ

a “Family Circle Pajama Party” to raise money and Museums are dreaming big woo new members.Geared to young families, the an- Continued from Page 15 again and again if there was an op- teams on their climbs. The kids are nual event costs $60 per revenue figures, but attendance portunity for them to sleep onboard, roped together,much like in a real ex- adult and $45 per child, numbers suggest that the program and we saw that we had an opportu- pedition, and forge through simulat- and lasts from 4:30 p.m. to could generate anywhere from $1.1 nity there,” Mr. Deliman said. Par- ed ice fields. At “base camp” they eat 6:30 p.m. Nina Diefen- million to $1.3 million annually. ticipation numbers suggest that traditional Tibetan food and learn bach, vice president for de- For those into fighter planes and ticket sales have the potential to more about Himalayan culture. velopment and member- aircraft carriers, the Intrepid Sea, bring in nearly $500,000 a year. ship, prefers to call it a Air & Space Museum has conduct- For most museums, however, af- Generating buzz “friend-raiser,” because ed “Operation Slumber”since 2009. ter the costs of extra staffing,the pro- Last year, the Rubin started an A WHALE OF A TIME: Sleepovers at the American Museum each member gets six com- Around 275 people each pay up to grams simply break even. But that’s adult sleepover program called of Natural History can generate up to $1.3 million a year. plimentary tickets. $120 to spend the night on cots reason enough to keep doing them. “Dreamover.” Up to 93 grown-ups While programs like along the hangar deck.Last year,the The Rubin Museum of Art offers spend the night,at a cost of $108 per these often lead to in- ship hosted nine “operations,” slumber parties for kids and grown- person,learning about the science of erate, which helps with fundraising. creased visits and prompt new bringing in 4,000 guests. ups.The “Peak Experience”sleepover dreams from neuroscientists and “On a spreadsheet,it might not seem members to join, most of the results Jim Deliman, director of group transforms the building’s famous spi- psychotherapists. Participants sleep to add up to much, but in terms of are less tangible. sales and tourism for the Intrepid, ral staircase into Mount Everest, and under a painting and, in the morn- recognition and kudos, it really does “You’re getting kids to come who said the program was started by lets kids simulate a real expedition. ing, discuss how the artwork may matter,” said Tim McHenry, direc- will eventually go to famous col- popular demand. The once-a-year program—which is have influenced their dream cycles. tor of programming at the Rubin. leges, become wildly successful and limited to 40 children and costs $175 Neither of these programs makes The Metropolitan Museum of become members—and then do- Seeing opportunity per person—includes mountaineers money.Their greatest benefit,muse- Art doesn’t host sleepovers in its hal- nate money,” Mr. Friedman said. “We had youth groups asking us and Nepali Sherpas to advise the um officials say,is the buzz they gen- lowed rooms, but it recently started “It’s a long-term process.” Ⅲ

16 | Crain’s New York Business | July 9, 2012 REPORT THE ARTS

AGNES GUND have not been ready to make. We need to better comprehend this environment and learn how to Business as usual? participate in it.The arts are slow at developing donors online, where much fundraising now happens.We have been slow to attract the new ‘The usual is gone’ money—the hedge fund and social- media crowds, the new inheritors of PHILANTHROPIST wealth. We need these people in the AGNES GUND urges arts, but we are not getting their at- am a funder of the arts,a grant-maker,a philanthropist— fundraisers for arts depending on the terminology you like best. I make do- groups to become tention. Large amounts of money more tech-savvy. are going into donor-advised funds; nations to nonprofit cultural and educational institutions we scarcely know how to reach those through my foundation,and I do so as an individual.Sit- funds. We are late adapters of social ting here on a Crain’s New York Business panel with the ti- media, of the interactive ways of tle “The Art of Fundraising in the New Economy,” I expect to dealing that are now common I among the young. be asked questions about giving money. As fundraisers,we are not good at

But I want to stress that I am also a fundraiser. For Studio in buck ennis collaborating; we argue for one sym- phony or one dance company or one a School Association, the arts- tural Affairs and the New York State only in their home cities, or they are must be educated to be supporters. museum at a time—without appeal- education program I founded years Council on the Arts. Across the interested in data collection or ac- What happens in this funding en- ing for the arts as a whole,significant ago,and for the Museum of Modern country, the budgets of agencies like countability standards. Their fund- vironment,we learn from researchers, sector in American life.And as insti- Art, I think about raising money all these are down; overall, the decline ing is specialized. is that big, prestigious institutions tutions we haven’t learned to com- the time. So I play, really, on both has been about 25%. In some cities Some foundations are not adding persist. Small arts organizations bine tasks, to find common ways of sides of the divide—I am a donor on and states, cultural funding has new grantees, even if they main- scramble and scrape by. Middle-size solving problems, to enlist new one side and a beggar on the other. been eliminated altogether. tain funding for existing cultural institutions have the hardest thinkers in our business. Funding for the arts grantees. Some founda- time.But middle-size institutions are We are trying to do business as Budgets slashed from private foundations are doing more the places we look to for the develop- usual, when—in fact—the usual is There is no question that fund- tions is also down. Ac- -25% funding for general sup- ment of new work, the discovery of gone.There is a new usual.We need ing for arts and culture has changed. cording to the Founda- DECLINE in port, as opposed to proj- talent, for serious outreach into to make it work for the arts. With- The recession has taken a toll that tion Center, very few budgets of ect support, which is a schools and communities. out the arts, we would be people has been measured by Grantmakers funders have increased many arts sane approach in bad without inspiration, without ideas, in the Arts and other researchers. their support for the arts agencies times.Overall,foundations Arts groups slow to adapt without ideals. That’s why success- The National Endowment for the in recent years; most have are doing business differently The new economy is a recession ful fundraising for the arts in the Arts is running on less money in real decreased their arts budgets, in and spending less on the arts. economy, and these changes reflect new economy is essential. terms than it did in 1992.The budg- amounts ranging from 10% to 80%. Increasingly, nonprofits must that fact. But the new economy has ets of other public agencies have de- Important foundations like Rocke- look to individual donors for sup- other features, too—it is a hard- Agnes Gund is president emerita of the creased even more dramatically. feller, Ford, Pew and Wallace have port. They build their boards, run paced, media-related, market- and Museum of Modern Art and the founder State and local arts agencies have lowered their cultural funding, or parties, market services, create metrics-driven economy. Innova- and a trustee of Studio in a School been mainstays of local culture all they have narrowed what they do so friends’ organizations.The appeal is tion thrives.Disruption is a key con- Association, a nonprofit that teaches visual over the country for years. In our that it is harder to qualify for their made, person by person, benefit by cept. Technology rules. Raising arts in New York City’s public schools. She case, this means support from the funding—they look for new-media benefit. This is very hard, and to money in this new economy requires presented these remarks last month at a New York City Department of Cul- projects, for instance, or for projects make it work many more people changes that I think we in the arts Crain’s Arts and Culture Breakfast. crain’s Events CALENDAR

Ensure Your Next Event is a Blockbuster

Post your next event on the Crain’s Events Calendar and we will help you market it to an influential audience that regularly attends in-person conferences.

Featured Listing Includes:

To start your listing today, visit: www.crainsnewyork.com/section/events_calendar/submit To start your listing today, visit: Or contact Joanne Barbieri at (212) 210-0189 or [email protected] www.crainsnewyork.com/section/events_calendar/submit

July 9, 2012 | Crain’s New York Business | 17 TO PLACE A CLASSIFIED AD, CALL 1-800-444-6007 OR VISIT CRAINSNEWYORK.COM AUCTION / PUBLIC & LEGAL NOTICES FORECLOSURE SALE Notice of Qualification of Vital Support NOTICE OF FORMATION OF REQUEST FOR PROPOSALS Systems, L.L.C. Authority filed with Investment Business Advisors, LLC. NY Dept. of State on 6/11/12. Office Authority filed w/ Secy of State of NY location: NY County. LLC formed in (SSNY) on 4/6/12. Office Location: IA on 4/18/01. NY Sec. of State NY Co. LLC formed in D.C on designated agent of LLC upon whom 3/21/11. SSNY designated agent process against it may be served and upon whom process may be served shall mail process to: c/o CT and shall mail copy of process Corporation System, 111 8th Ave., NY, against LLC to principal business NY 10011, regd. agent upon whom address: Paul A. Ehrhardt, 3552 process may be served. IA and Reservoir Rd, NW, Washington DC principal business addr.: 11191 20007. Arts of Org of LLC filed w/ Aurora Ave., Urbandale, IA 50322. Patricia E. Grays, Superintendent of Cert. of Org. filed with IA Sec. of State, Corps located: Dept of Consumer 321 E. 12th St., Des Moines, IA and Regulatory Affairs, Corps 50319. Purpose: all lawful purposes. Division, PO Box 92300, Washington DC 20090. Purpose: any lawful act. FRANCINE WOLTERBEEK LLC, a domestic LLC. Arts. of Org. filed with Notice of Formation of A Canaan LLC, the SSNY on 06/04/2012. Office Art. of Org. filed Secy. of State of NY location: NY County. SSNY has been (SSNY) on 3/9/2012. Office location: designated as agent upon whom New York County . SSNY Designated process against the LLC may be as agent of LLC upon whom process served. SSNY shall mail process to: against it may be served. SSNY shall 200 West 16th St, 5K, NY, NY 10011. mail copy of process to: The LLC, Purpose: Any Lawful Purpose. 154 W 29th St, New York, NY 10001. Purpose: any lawful activity. MINERVA 25 LLC, a domestic LLC, Arts. of Org. filed with the SSNY on Notice of Formation of LS OPPOR- 11/22/11. Office location: New York TUNITY, LLC. Arts. of Org. filed with County. SSNY is designated as Secy. of State of NY (SSNY) on agent upon whom process against 04/23/12. Office location: NY County. the LLC may be served. SSNY shall SSNY designated as agent of LLC mail process to: Richard K. Eng, upon whom process against it may Esq., 100 Lafayette St., Ste. 403, NY, be served. SSNY shall mail process NY 10013. General Purposes. to Corporation Service Co., 80 State St., Albany, NY 12207-2543, regd. Notice of Formation of 28-30 Avenue A, agent upon whom and at which Notice of Qual. of Two Hundred Notice of Qualification of Brand Risk LLC. Arts. of Org. filed with NY Dept. process may be served. Purpose: Lafayette Holdings LLC, Auth. filed Management, LLC. App for of State on 05/14/12. Office location: Any lawful activity. Sec’y of State (SSNY) 1/6/12. Office Authority filed with Secy of State of NY County. Principal business loc.: NY County. LLC org. in DE 1/5/12. NY (SSNY) on 6/5/12. Office address: c/o Singh Equities, LLC, 22 Notice of formation of Evergreene SSNY desig. as agent of LLC upon Location: NY County. LLC formed in W. 27th St., NY, NY 10001. Secy. of Music LLC. Arts of Org filed with whom process against it may be served. MO on 3/5/10. SSNY designated State designated as agent of LLC Secy of State of NY (SSNY) on SSNY shall mail copy of proc. to agent upon whom process may be upon whom process against it may 5/11/12. Office location: NY County. Kushner Companies, 666 Fifth Ave., served and shall mail copy of be served. Secy. of State shall mail SSNY designated as agent upon NY, NY 10103. DE off. addr.: 160 process against LLC to principal process to c/o Singh Equities, LLC, whom process against the LLC may EVENT Greentree Dr., Ste. 101, Dover, DE business address: 16090 Swingley 22 W. 27th St., NY, NY 10001. be served. SSNY shall mail process 19904. Cert. of Form. on file: SSDE, Ridge Rd, Ste 400, Chesterfield, MO ACG New York’s Annual Purpose: Any lawful activity. to 450 W 31st St, NY, NY 10001. Townsend Bldg., Dover, DE 19901. 63017. Cert of LLC filed with Secy of General purposes. “SummerBash” Purp.: any lawful activities. State of MO located: 600 West Main NOTICE OF FORMATION of Held at the Central Park Boathouse, St, Jefferson City, MO 65101. Pineapple Developments, LLC Art. Notice of formation of Fiona Tyson, ACG New York’s Annual SummerBash NOTICE OF FORMATION OF THE Purpose: any lawful act. of Org filed Sec’y of State (SSNY) Professional Makeup Artist LLC Arts. brings together leading middle market PROCTER GROUP LLC. Arts of Org 6/20/12. Office location: New York of Org. filed with the Sect’y of State private capital dealmakers for a night of filed with Secy of State of NY (SSNY) Notice of Formation of NYLex, LLC. County. SSNY designated as agent of of NY (SSNY) on 5/17/2012. Office on 5/29/12. Office location: BRONX. Networking...Networking...Networking. Arts. of Org. filed with Secy. of State LLC upon whom process against it location, County of New York. SSNY designated as agent upon of NY (SSNY) on 06/25/12. Office may be served. SSNY shall mail copy SSNY has been designated as agent Enjoy a Gondola Ride from whom process may be served and location: NY County. SSNY designated of process to David Wrobel, Esq., of the LLC upon whom process 7:30 pm to 8:30 pm. shall mail copy of process against LLC as agent of LLC upon whom process Wrobel & Schatz LLP, 1040 Avenue of against it may be served. SSNY shall When: Wednesday, July 11, 2012, 6-9 pm. to principal business address: 780 against it may be served. SSNY shall the Americas, 11th Floor, New York, NY mail process to: The LLC, 445 Where: Central Park Boathouse, East Saint Anns Avenue, Apt. 6G, Bronx, mail process to c/o Timothy C. Lynch, 10018. Purpose: any lawful activities. Lafayette St #11A, NY NY 10003. 72nd St. & Park Drive North, New York, NY 10456. Purpose: any lawful act. Offit Kurman, P.A., 300 E. Lombard Purpose: any lawful act. NY 10022. General Price : $175. Member St., Ste. 2010, Baltimore, MD 21202. Notice of Qual. of 4 NYP Ventures LLC. Notice of Formation of ASTOR Purpose: Any lawful activity. NOTICE OF FORMATION OF Epoc Price : $125. Register at acgnyc.org. filed with Sec of State NY (SSNY): PROPERTY HOLDINGS LLC. Arts. of 5/10/12. Office in NY County. Formed Partners LLC. Arts of Org filed with Org. filed with Secy. of State of NY NOTICE OF FORMATION of VIOLATOR/ in DE: 4/12/12. SSNY designated Secy of State of NY (SSNY) on (SSNY) on 05/31/12. Office location: STIMULATED LLC. Arts of Org filed agent of LLC upon whom process 4/13/12. Office location: NY County. TELECOMMUNICATIONS NY County. Princ. office of LLC: 575 with SSNY on 5/1/12. Office location: against it may be served & shall mail SSNY designated agent upon whom Madison Ave., Ste. 7B, NY, NY 10022. NY County. SSNY designated as an process to: c/o Edge Funds process may be served. PO address SSNY designated as agent of LLC agent upon whom process may be Management LLC, 5301 Wisconsin to which SSNY shall mail copy of upon whom process against it may served. SSNY shall mail process to Ave. N.W. Ste 740, Washington, D.C. process against LLC: Imelda Vasquez, be served. SSNY shall mail process the LLC c/o Primary Wave, 116 E 20015. Foreign add: 160 Greentree 101 N Brand Blvd, 11th Fl, Glendale, 33 East 33rd Street to Kozusko Harris Duncan at the 16th St, 9th Fl, NY NY 10003. Dr. Ste 101, Dover, DE 19904. Arts. CA 91203. Principal business address: princ. office of the LLC. Purpose: New York, NY 10016 Purpose: any lawful act. of Org. filed with Sec. of State Of DE, 2373 Broadway, Ste 1628, NY, NY, Any lawful activity. 401 Federal St., Dover, DE 19901. 10024. Purpose: any lawful act. 212-532-7400 Notice of Formation of Quik Park 485 Purpose: General. [email protected] Notice of Formation of Heather Brand Garage LLC. Arts. of Org. filed with Notice of Formation of Lawrence Debt EMERGENCY Fourth LLC. Arts. of Org. filed with Secy. of State of NY (SSNY) on OPTIONS CAPITAL MANAGEMENT LLC, Art. of Org. filed Sec’y of State Secy. of State of NY (SSNY) on 5/8/12. Office location: NY County. LLC, a domestic LLC, Arts. of Org. (SSNY) 1/31/12. Office location: NY COMMUNICATIONS 12/16/03. Office location: NY County. SSNY designated as agent of LLC filed with the SSNY on 5/4/12. Office County. SSNY designated as agent SYSTEMS SSNY designated as agent of LLC upon whom process against it may location: New York County. SSNY is of LLC upon whom process against SPECIALISTS upon whom process against it may be served. SSNY shall mail process designated as agent upon whom it may be served. SSNY shall mail • FREE PICKUP & DELIVERY be served. SSNY shall mail process to: The LLC, 247 W. 37th St., NY, NY process against the LLC may be copy of process to NRAI, 875 Ave • 48 HOUR TURNAROUND to: The LLC, 209 E. 14th St., NY, NY 10018. Purpose: any lawful purpose. served. SSNY shall mail process to: of the Americas, NY, NY 10001. ON REPAIRS 10003. Purpose: any lawful activity. The LLC, 233 W. 83rd St., Apt. 3C, Purpose: any lawful activities. • FREE ENGRAVING Notice of Qualification of IX 1372 NY, NY 10024. General Purposes. • SHORT & LONG TERM Notice of Qualification of ARC Holdings, L.P. Authority filed with NY NOTICE OF FORMATION of RAIN RENTALS NYW42ST002, LLC. Authority filed Dept. of State on 5/29/12. Office Notice of Formation of SOUTHEAST Commercial Real Estate Advisors with Secy. of State of NY (SSNY) on location: NY County. Princ. bus. addr.: TOWERS PRESERVATION, L.P. Cert. LLC. Article of Organization filed with 06/19/12. Office location: NY County. 591 W. Putnam Ave., Greenwich, CT of LP filed with Secy. of State of NY the Secretary of State of NY (SSNY) LLC formed in Delaware (DE) on 06830. LP formed in DE on 3/26/12. (SSNY) on 05/04/12. Office location: on 06/01/2012. Office location: NY 02/27/12. Princ. office of LLC: 106 NY Sec. of State designated agent of NY County. Princ. office of LP: 60 County. SSNY has been designated York Rd., Jenkintown, PA 19046. LP upon whom process against it Columbus Circle, NY, NY 10023. as agent upon whom process SSNY designated as agent of LLC may be served and shall mail process Latest date on which the LP may against it may be served. The Post upon whom process against it may be to: c/o CT Corporation System, 111 dissolve is 12/31/2111. SSNY des- Office address to which the SSNY served. SSNY shall mail process to 8th Ave., NY, NY 10011, regd. agent ignated as agent of LP upon whom shall mail a copy of any process TELEPHONE EQUIPMENT c/o CSC, 80 State St., 6th Fl., Albany, upon whom process may be served. process against it may be served. against the LLC served upon him is NY 12207. DE addr. of LLC: 2711 DE addr. of LP: 1209 Orange St., SSNY shall mail process to c/o C/O the LLC 60 West 23rd Street, WILL BUY Centerville Rd., Ste. 400, Wilmington, Wilmington, DE 19801. Name/addr. Corporation Service Co., 80 State Ste. 842, NY, NY 10010. Purpose of ALL OFFICE TELEPHONE EQUIPMENT DE 19808. Arts. of Org. filed with DE of genl. ptr. available from NY Sec. of St., Albany, NY 12207. Name and LLC: to engage in any lawful act or Please call: 212-Richard Secy. of State, Div. of Corps., 401 State. Cert. of LP filed with DE Sec. addr. of each general partner are activity. Street address of Principal Federal St., Ste. 4, Dover, DE 19901. of State, 401 Federal St., Dover, DE available from SSNY. Purpose: Any Business location is: 60 West 23rd Please call: 212-742-4273 Purpose: Any lawful activity. 19901. Purpose: all lawful purposes. lawful activity. Street, Ste. 842, NY, NY 10010.

18 | Crain’s New York Business | July 9, 2012 TO PLACE A CLASSIFIED AD, CALL 1-800-444-6007 OR VISIT CRAINSNEWYORK.COM PUBLIC & LEGAL NOTICES Notice of Application for Authority of Notice of Qualification of Yonkers Notice of Qualification of 11 East Notice of Qualification of Warburg Notice of Qualification of IX 1372 MRS. BELEM TRADING, LLC filed 2012 Associates LLC. Authority filed 68th Street Property Manager LLC. Pincus Private Equity (E&P) XI-A, L.P. Mezz GP, L.L.C. Authority filed with with the Secy. of State of NY (SSNY) with NY Dept. of State on 5/14/12. Authority filed with NY Dept. of State Authority filed with NY Dept. of State NY Dept. of State on 6/1/12. Office on 5/8/12. The LLC was formed in NJ Office location: NY County. Princ. on 2/9/12. Office location: NY County. on 5/8/12. Office location: NY County. location: NY County. Princ. bus. addr.: on 2/17/12. Office loc.: New York bus. addr.: 832 Germantown Pike, Princ. bus. addr.: 600 Madison Ave., LP formed in DE on 5/3/12. NY Sec. 591 W. Putnam Ave., Greenwich, CT County. The SSNY is designated as Ste. 5, Plymouth Meeting, PA 19462. 17th Fl., NY, NY 10022. LLC formed of State designated agent of LP upon 06830. LLC formed in DE on 5/23/12. agent of LLC upon whom process LLC formed in DE on 8/16/11. NY in DE on 12/22/11. NY Sec. of State whom process against it may be NY Sec. of State designated agent of against it may be served. The principal Sec. of State designated agent of designated agent of LLC upon whom served and shall mail process to the LLC upon whom process against it business loc. and the address SSNY LLC upon whom process against it process against it may be served principal business addr.: c/o Warburg may be served and shall mail process shall mail copy of process to is 75 may be served and shall mail and shall mail process to: c/o CT Pincus LLC, 450 Lexington Ave., NY, to: c/o CT Corporation System, 111 Varick St., 3rd Fl., New York, NY process to: c/o CT Corporation Corporation System, 111 8th Ave., NY, NY 10017, Attn: General Counsel. 8th Ave., NY, NY 10011, regd. agent 10013. The required office address System, 111 8th Ave., NY, NY 10011, NY 10011, regd. agent upon whom DE addr. of LP: c/o The Corporation upon whom process may be served. in NJ is 1255 River Rd., Edgewater, regd. agent upon whom process may process may be served. DE addr. of Trust Co., 1209 Orange St., DE addr. of LLC: 1209 Orange St., NJ 07020. Cert. of formation filed be served. DE addr. of LLC: 1209 LLC: 1209 Orange St., Wilmington, DE Wilmington, DE 19801. Name/addr. Wilmington, DE 19801. Cert. of with Andrew P. Sidamon-Eristoff, Orange St., Wilmington, DE 19801. 19801. Cert. of Form. filed with DE of genl. ptr. available from NY Sec. of Form. filed with DE Sec. of State, State Treas., 33 W. State St., Cert. of Form. filed with DE Sec. of Sec. of State, P.O. Box 898, Dover, DE State. Cert. of LP filed with DE Sec. 401 Federal St., Dover, DE 19901. Trenton, NJ 08608. State, 401 Federal St., Dover, DE 19903. Purpose: all lawful purposes. of State, 401 Federal St., Dover, DE Purpose: all lawful purposes. 19901. Purpose: all lawful purposes. 19901. Purpose: all lawful activity. Notice of formation of VERTIGROW Notice of Formation of ROSE CAPITAL NOTICE OF FORMATION OF LIMITED LLC. Arts. of Organization filed with Notice of Qualification of Digital Risk 104TH STREET LLC. Arts. of Org. Notice of Qualification of DVCI CDE V, LIABILITY COMPANY. NAME: Secy of State of NY (SSNY) on Valuation Services, LLC. Authority filed filed with Secy. of State of NY (SSNY) LLC. App. for Auth. filed with Secy. of DENTAVERSE, LLC. Articles of 5/1/12. Office location: NY County. with NY Dept. of State on 5/21/12. on 5/9/12. Office location: NY County. State of NY (SSNY) on 6/1/12. Office Organization were filed with the SSNY designated as agent upon Office location: NY County. LLC SSNY designated as agent of LLC location: NY County. LLC formed in Secretary of State of NY (SSNY) on whom process may be served and formed in DE on 4/27/12. NY Sec. of upon whom process against it may Delaware (DE) on 3/16/11. SSNY 5/15/12. Office location: New York shall mail copy of process against State designated agent of LLC upon be served. SSNY shall mail process designated as agent of LLC upon County. SSNY has been designated LLC to principal business address: whom process against it may be to: 551 Fifth Ave., 23rd Fl., NY, NY whom process against it may be as agent of the LLC upon whom 106 Cabrini Blvd. 6E NY, NY 10033. served and shall mail process to the 10176. Purpose: any lawful activity. served. SSNY shall mail process to: process against it may be served. Purpose: any lawful act. principal business addr.: 2301 c/o Corporation Service Company, SSNY shall mail a copy of process to Maitland Center Pkwy., Ste. 165, Notice of Qual. of Irongate Management, 80 State St., Albany, NY 12207. DE the LLC, c/o Siegelvision, 9 East Notice of Formation of Maitland, FL 32751. DE addr. of LLC: LLC with a fictitious name of Irongate address of LLC: 2711 Centerville Rd., 40th Street, 17th Floor, New York, KINGKONGBNB LLC, Art. of Org. 615 S. DuPont Hwy., Dover, DE 19901. Property Management, LLC, Auth. Ste. 400, Wilmington, DE 19808. Arts. New York 10016. Purpose: For any filed Secy. of State of NY (SSNY) on Cert. of Form. filed with DE Sec. of filed Sec’y of State (SSNY) 1/6/12. of Org. filed with DE Secy. of State, lawful purpose. 5/14/2012. Office location: New York State, 401 Federal St., Dover, DE Office loc.: NY County. LLC org. in 401 Federal St., Ste. 4, Dover, DE County . SSNY Designated as agent 19901. Purpose: all lawful purposes. DE 11/14/11. SSNY desig. as agent 19901. Purpose: any lawful activity. NOTICE OF FORMATION OF DANGER of LLC upon whom process against of LLC upon whom process against TV, LLC. Articles of Organization it may be served. SSNY shall mail HEART-TUNE, LLC, a domestic LLC. it may be served. SSNY shall mail Notice of Qual. of Two Hundred were filed with the New York copy of process to: The LLC, 144 Arts. of Org. filed with the SSNY on copy of proc. to NRAI, 875 Ave of Lafayette Kushner Manager LLC, Auth. Secretary of State (SSNY) on April Bowery St, 3rd Fl, New York, NY 04/16/2012. Office location: NY County. the Americas, NY, NY 10001. DE off. filed Sec’y of State (SSNY) 1/10/12. 24, 2012. Office Location: NY County. 10013. Purpose: any lawful activity. SSNY has been designated as agent addr.: 160 Greentree Dr., Ste. 101, Office loc.: NY County. LLC org. in SSNY has been designated as an upon whom process against the LLC Dover, DE 19904. Cert. of Form. on DE 1/9/12. SSNY desig. as agent of agent upon whom process may be NOTICE OF FORMATION OF JEBS may be served. SSNY shall mail file: SSDE, Townsend Bldg., Dover, LLC upon whom process against it served and shall mail a copy of any GROUP, LLC. Arts of Org filed with process to: 1755 York Ave 7A, NY, NY DE 19901. Purp.: any lawful activities. may be served. SSNY shall mail process to the principal business Secy of State of NY (SSNY) on 10128. Purpose: Any Lawful Purpose. copy of proc. to Kushner Companies, address: 10 East 92nd Street, New 666 Fifth Ave., NY, NY 10103. DE off. 5/21/12. Office location: NY County. MELWANI & CHAN LLP a domestic York, New York 10128. Purpose: addr.: 160 Greentree Dr., Ste. 101, SSNY designated as agent upon LLP, filed with the SSNY on 2/17/12. Any lawful activity. Notice of Qualification of CMS Multi- Dover, DE 19904. Cert. of Form. on whom process may be served and Office Location: New York County. Purpose Management Fund I LLC. file: SSDE, Townsend Bldg., Dover, DE shall mail copy of any process against SSNY is designated as agent upon Authority filed with NY Dept. of State 19901. Purp.: any lawful activities. Notice of Qualification of DuPont LLC to principal business address: on 5/10/12. Office location: NY whom process against the LLP may Performance Coatings, LLC. Authority 370 W 52ND STREET, NEW YORK, County. Princ. bus. addr.: 120 Wall be served. SSNY shall mail process filed with NY Dept. of State on Notice of Qual. of Two Hundred NY 10019. Purpose: any lawful act. St., 16th Fl., NY, NY 10005. LLC to: The LLP, 55 West End Ave., Ste. 5/29/12. Office location: NY County. Lafayette LLC, Auth. filed Sec’y of formed in DE on 2/16/12. NY Sec. of 9H, NY, NY 10023. Purpose: Law LLC formed in DE on 4/17/12. NY State (SSNY) 1/6/12. Office loc.: NY NOTICE OF FORMATION OF Glacier State designated agent of LLC upon Sec. of State designated agent of County. LLC org. in DE 1/5/12. SSNY Capital LLC. Arts of Org filed with whom process against it may be LLC upon whom process against it Notice of Formation of Georgia desig. as agent of LLC upon whom Secy of State of NY (SSNY) on served and shall mail process to: c/o may be served and shall mail process Greene LLC. Arts of Org filed with process against it may be served. 3/16/12. Office location: NY County. CT Corporation System, 111 8th to: c/o CT Corporation System, 111 Secy of State of NY (SSNY)on SSNY shall mail copy of proc. to SSNY designated as agent upon Ave., NY, NY 10011, regd. agent 8th Ave., NY, NY 10011, regd. agent 2/27/12. Office location: NY County. Kushner Companies, 666 Fifth Ave., whom process may be served and upon whom process may be served. upon whom process may be served. SSNY designated as agent upon NY, NY 10103. DE off. addr.: 160 shall mail copy of process against DE addr. of LLC: 1209 Orange St., DE and principal business addr.: 1007 whom process may be served and Greentree Dr., Ste. 101, Dover, DE LLC to principal business address: Wilmington, DE 19801. Cert. of Market St., D-13039, Wilmington, DE shall mail copy of process against 19904. Cert. of Form. on file: SSDE, 229 W 60th St, Apt 3R, NY, NY Form. filed with DE Sec. of State, 19898. Cert. of Form. filed with DE Sec. LLC to principal business address: Townsend Bldg., Dover, DE 19901. 10023. Purpose: any lawful act. 401 Federal St., Dover, DE 19901. of State, 401 Federal St., Dover, DE 435 Convent Ave, NY, NY 10031. Purp.: any lawful activities. Purpose: all lawful purposes. Purpose any lawful act. 19901. Purpose: all lawful purposes. Notice of Formation of Limited Liability NOTICE OF FORMATION OF Anthem Company (LLC) Name: APPLE SEEDS Notice of Formation of BVM TRIBECA 224 EAST 74TH LLC, a foreign LLC, Advisory Services LLC. Arts of Org Notice of Formation of LIGHTSEED INTERNATIONAL LLC. Articles of LLC. Arts. of Org. filed with Secy. of filed with the SSNY on 6/18/98. filed with the Secy of State of NY (SSNY) CAPITAL, LLC. Arts. of Org. filed with Organization filed by the Department State of NY (SSNY) on 06/08/12. Office location: New York County. on 09/09/2011. Office location: NY Secy. of State of NY (SSNY) on of State of New York on: 05/15/2012. Office location: NY County. SSNY SSNY is designated as agent upon County. SSNY designated as agent 04/26/12. Office location: NY County. Office location: County of New York. designated as agent of LLC upon whom process against the LLC upon whom process may be served SSNY designated as agent of LLC Purpose: any and all lawful activities. whom process against it may be may be served. SSNY shall mail and shall mail a copy of any process upon whom process against it may be Secretary of State of New York served. SSNY shall mail process to process to: c/o Delta Realty, 805 to the principal business address: 88 served. SSNY shall mail process to (SSNY) designated as agent of LLC Pavia & Harcourt LLP, Attn: Giovanni Third Ave, Ste 1100, NY, NY 10022. Leonard Street, Suite 605, NY, NY Corporation Service Co., 80 State St., upon whom process against it may Spinelli, Esq., 590 Madison Ave., General Purposes. 10013. Purpose: any lawful act. Albany, NY 12207, regd. agent upon be served. SSNY shall mail a copy 8th Fl., NY, NY 10022. Purpose: Any whom and at which process may be of process to: 10 West 25th Street, lawful activity. Cindy’s N.Y.C. Apartment Rentals Notice of Formation of Goldstein Hall served. Purpose: Any lawful activity. New York, NY 10010. L.L.C. Arts of Org filed Sec. of State PLLC filed under the original name LANDAU ABRAMS LLC, a domestic of NY on 5/2/12. Off loc: NY Co. David A. Goldstein & Associates, PLLC, Notice of Formation of MERMAID Notice of Formation of 225 LAFAYETTE LLC. Arts. of Org. filed with the SSNY SSNY designated agent upon whom Art. of Org. filed Sec’y of State (SSNY) PLAZA HOLDINGS LLC. Arts. of Org. STREET, LLC. Arts. of Org. filed with on 05/04/2012. Office location: NY process against it may be served. 1/4/06. Office location: NY County. filed with Secy. of State of NY (SSNY) Secy. of State of NY (SSNY) on County. SSNY has been designated SSNY to mail copy of process to the SSNY designated as agent of PLLC on 5/18/12. Office location: NY County. 5/17/12. Office location: NY County. as agent upon whom process address: 531 W 145th St Apt. 21 NY upon whom process against it may be SSNY designated as agent of LLC SSNY designated as agent of LLC against the LLC may be served. NY 10031. Purpose: any lawful act. served. SSNY shall mail copy of process upon whom process against it may be upon whom process against it may SSNY shall mail process to: 190 E. to Tesser & Ryan & Rochman, 509 served. SSNY shall mail process to: be served. SSNY shall mail process 72nd St Apt. 5C, NY, NY 10021. Reg Notice of Qualification of J.P. MORGAN Madison Ave., NY, NY 10022. Purpose: The Company, c/o Martin Domansky, to: c/o Ursula Bevan, 225 Lafayette Agent: Michael Abrams, 190 E. 72nd GLOBAL ACCESS PRIVATE to practice the profession of Law. 19 West 34th St., NY, NY 10001. St., #12A, NY, NY 10112. Purpose: St Apt. 5c, NY, NY 10021. Purpose: INVESTMENTS VINTAGE 2012, LLC. Purpose: any lawful activities. any lawful purpose. Any Lawful Purpose. Authority filed with Secy. of State of NY Notice of Qualification of PLC SEVEN (SSNY) on 06/05/12. Office location: SPRINGS, LLC. Authority filed with Notice of Qualification of Ria in a Box Notice of Qualification of KTR LP III Notice of Qualification of Sugar and NY County. LLC formed in Delaware Secy. of State of NY (SSNY) on LLC. Authority filed with NY Dept. of LLC. Authority filed with NY Dept. of Plumm (Upper West), LLC. Authority (DE) on 02/29/12. Princ. office of LLC: 05/23/12. Office location: NY County. State on 2/10/12. Office location: NY State on 5/23/12. Office location: NY filed with NY Dept. of State on 5/8/12. c/o Proskauer Rose LLP, Eleven Times LLC formed in Maryland (MD) on County. Princ. bus. addr.: 108 W. 39th County. LLC formed in DE on Office location: NY County. LLC Sq., NY, NY 10036-8299. SSNY 05/23/12. Princ. office of LLC: 7 St., Ste. 604, NY, NY 10018. LLC 5/15/12. NY Sec. of State designated formed in DE on 12/2/10. NY Sec. of designated as agent of LLC upon Spring St., NY, NY 10012. SSNY formed in DE on 11/21/11. NY Sec. of agent of LLC upon whom process State designated agent of LLC upon whom process against it may be designated as agent of LLC upon State designated agent of LLC upon against it may be served and shall whom process against it may be served. SSNY shall mail process to whom process against it may be whom process against it may be mail process to: c/o CT Corporation served and shall mail process to the Corporation Service Co., 80 State St., served. SSNY shall mail process to served and shall mail process to: c/o System, 111 8th Ave., NY, NY 10011, principal business addr.: 146 Albany, NY 12207-2543. DE addr. of the LLC at the princ. office of the CT Corporation System, 111 8th Ave., regd. agent upon whom process may Redneck Ave., Moonachie, NJ LLC: 2711 Centerville Rd., Ste. 400, LLC. MD addr. of LLC: 526 Penny NY, NY 10011. DE addr. of LLC: c/o be served. DE addr. of LLC: 1209 07074. DE addr. of LLC: 615 S. Wilmington, DE 19808. Arts. of Org. Ln., Cockeysville, MD 21030. Cert. of The Corporation Trust Co., 1209 Orange St., Wilmington, DE 19801. DuPont Hwy., Dover, DE 19901. Cert. filed with Secy. of the State of DE, Form. filed with Paul B. Anderson, Orange St., Wilmington, DE 19801. Cert. of Form. filed with DE Sec. of of Form. filed with DE Sec. of State, Corp. Dept., Loockerman & Federal Dept. of Assessments and Taxation, Cert. of Form. filed with DE Sec. of State, 401 Federal St., Dover, DE Townsend Bldg., Dover, DE 19901. Sts., Dover, DE 19901. Purpose: Any 301 W. Preston St., Baltimore, MD State, 401 Federal St., Dover, DE 19901. Purpose: all lawful purposes. Purpose: all lawful purposes. lawful activity. 21201. Purpose: Any lawful activity. 19901. Purpose: all lawful purposes.

July 9, 2012 | Crain’s New York Business | 19 CONTROVERSY over the health Employee ‘Obamacare’ lawsuits care law is expected to Continued from Page 3 One potential hangup,for exam- Companies that try to manage the continue. ACA doesn’t preclude lawsuits if ple, is the provision that specifies size of their workforce to avoid the employees believe they’ve been mis- whether a company’s existing health play-or-pay mandate could see treated or denied benefits they think plan may be grandfathered and claims from employees. an employer should offer. And it therefore permitted to offer more Even seemingly risk-free offer- provides new whistle-blower pro- limited benefits than the law de- ings, such as wellness programs, tections for employees who voice mands of new plans. could trip up a company if,for exam- their complaints to regulators. Among other things, grandfa- ple, a “walk at work” program “The statute has an extremely thered plans don’t have to provide doesn’t take account of employees complex regulatory framework that free preventive care or coverage for with disabilities who are unable to adds layers on to what we already clinical trials. participate. have,” said Peter Marathas, a part- “There must be an alternative for ner in Proskauer’s employee bene- Other pitfalls people who can’t meet the stan- fits, executive compensation and “[Even] if an employer believes it dard,” said Joseph Torella, president ERISA litigation group.“It leads to has a grandfathered plan,employees of the employee benefits division of an increased burden and increased could challenge whether it [meets insurance brokerage Hub Interna- potential liabilities.” grandfathering requirements] and tional Northeast.“When you look at

Proskauer,for one,established an should have adopted preventive care wellness, you have Department of newscom internal health care reform task services, such as birth control,” said Labor issues and EEOC issues.” force within days of the March 2010 Proskauer’s Mr. Marathas. “They Mr. Torella noted that Hub has have requested to be grandfathered. New York, a limousine company passage of the law.The team of two could sue on a class-action basis for added more compliance experts to “The audit approach is not puni- based in Manhattan that offers dozen attorneys has met regularly failure to provide benefits.” its staff, including two attorneys. tive, but that will shift pretty quickly health insurance to its 60 employees. for the past two years. In the weeks Definitions of full-time versus Small businesses are likely to be once we get down the road,”said Mr. Like many executives, Ms. Ru- leading up to the Supreme Court part-time workers could also be more at risk because they don’t have Marathas, adding that he has been bin is still trying to get answers to decision, they conferred daily. fraught with pitfalls,especially for re- armies of administrators to keep working for four months on one dis- questions about the ACA,including Whether such suits will be suc- tailers and other companies that em- track of changes and requirements. pute with the Labor Department. how the limits on health savings ac- cessful remains to be seen, said ploy temporary, seasonal or contract But even large businesses that self- counts apply and whether and when lawyers and consultants, and the workers. insure won’t be immune because Seeking answers her company will be able to buy in- risks are manageable if companies Some large companies with more they can’t offload responsibility for What’s for sure is that audits, surance on the state exchange being adopt policies to avoid problems and than 50 workers will have to pay a plan design and other decisions to lawsuits and other measures that planned. potential violations. But it won’t be penalty if they don’t provide health insurance carriers. companies themselves employ to She doesn’t think she has to wor- easy. “Like other rights and entitle- care, but whether a business meets Whether actions by employees bring their policies into compliance ry right now about things like new ments,” Mr. Manela explained, “de- the definition of a large company de- will succeed and how federal agencies won’t be cheap. documentation requirements, but cisions and plans will be scrutinized pends on the number of its full-time- will deal with lapses remain to be “I think that we’ve created some then added: “You know what? I’m when individual circumstances arise equivalent workers,a calculation that seen.The Department of Labor is al- jobs for lawyers and accountants,” really not sure. I have to talk to my that were not perfectly forecast.” includes part-timers’ total hours. ready conducting audits of plans that said Rosina Rubin,CFO of Attitude employment lawyer.” Ⅲ

TO PLACE A CLASSIFIED AD, CALL 1-800-444-6007 OR VISIT CRAINSNEWYORK.COM PUBLIC & LEGAL NOTICES

Notice of Qual. of Laight Street Notice of Qualification of VENUS Notice of Qualification of Teays River Name of LLC: San Holdings LLC. Arts. Notice of Qualification of Alpha DD Project Owner LLC, Auth. filed Sec’y PARTNERS, LLC. Authority filed Investments Management, LLC. of Org. filed with NY Dept. of State: LLC. App for Authority filed with of State (SSNY) 1/5/12. Office loc.: NY with Secy. of State of NY (SSNY) on Authority filed with Secy. of State of NY 2/21/12. Office loc.: NY Co. Sec. of Secy of State of NY (SSNY) on County. LLC org. in DE 1/3/12. SSNY 06/13/12. Office location: NY County. (SSNY) on 6/27/12. Office location: State designated agent of LLC upon 6/11/12. Office location: NY County. desig. as agent of LLC upon whom LLC formed in Delaware (DE) on NY County. LLC formed in Delaware whom process against it may be LLC formed in DE on 6/5/12. SSNY process against it may be served. 06/11/12. SSNY designated as agent (DE) on 10/15/07. SSNY designated served and shall mail process to: c/o designated agent upon whom SSNY shall mail copy of proc. to of LLC upon whom process against it as agent of LLC upon whom process Business Filings Inc., 187 Wolf Rd., process may be served and shall Taconic Inv. Partners, 111 Eighth Ave., may be served. SSNY shall mail against it may be served. SSNY Ste. 101, Albany, NY 12205, regd. agt. mail copy of process against LLC to NY, NY 10011, the Reg. Agt. upon process to Attn: Michael Yohai, 30 shall mail process to: c/o National upon whom process may be served. business address: P.O. Box 4668, whom proc. may be served. DE off. Thixton Dr., Hewlett Harbor, NY 11557. Registered Agents, Inc., 111 Eighth Purpose: any lawful act. #90536, NY, NY 10163. DE address addr.: 160 Greentree Dr., Ste. 101, DE addr. of LLC: c/o Corporation Ave., 13th Fl., NY, NY 10011. Principal of LLC: 1675 So State St., Ste B, Dover, DE 19904. Cert. of Form. on Service Co., 2711 Centerville Rd., Ste. office address: 111 Congressional Notice of Formation of LFCI Capital Dover, DE 19901. Cert of LLC filed file: SSDE, Townsend Bldg., Dover, DE 400, Wilmington, DE 19808. Arts. of Org. Blvd., Ste. 115, Carmel, IN 46032. NYC LLC, Art. of Org. filed Sec’y of with Secy of State of DE located: 19901. Purp.: any lawful activities. filed with Secy. of State of DE, 401 Address to be maintained in DE: 160 State (SSNY) 12/20/11. Office location: P.O. Box 898, Dover, DE 19901. Federal St., Ste. 4, Dover, DE 19901. Greentree Dr., Ste. 101, Dover, DE NY County. SSNY designated as agent Purpose: any lawful activity. NOTICE OF FORMATION OF Blasius Purpose: Any lawful activity. 19904. Arts of Org. filed with the DE of LLC upon whom process against it Media & Marketing, LLC. Arts of Org Secretary of State, 401 Federal St., may be served. SSNY shall mail copy Theotopo, LLC. Arts. of Org. filed with filed with Secy of State of NY (SSNY) BLNY LLC, a foreign LLC, filed with Ste. 4, Dover, DE 19901. Purpose: of process to 207 W. 75th St., NY, NY Secy. of State of NY (SSNY) on 6/5/12. on 4/23/12. Office location: NY the SSNY on 3/9/12. Office location: any lawful activities. 10023. Purpose: any lawful activities. Office in NY County. SSNY designated County. SSNY designated as agent New York County. SSNY is designated agent of LLC upon whom process upon whom process may be served as agent upon whom process against Notice of Formation of 750 Jalanbo Notice of Registration of Richard Cook against it may be served. SSNY shall and shall mail copy of process the LLC may be served. SSNY shall Holdings LLC, Art. of Org. filed Sec’y Design, LLC. Cert. of Registration mail process to 54 Thompson St. 4th against LLC to principal business mail process to: The LLC, 1216 of State (SSNY) 5/16/12. Office filed with Secy. of State of NY (SSNY) Fl, NY, NY 10012. Purpose: General. address: 133 W Broadway, Ste 3, NY, Lexington Ave., NY, NY 10028. location: NY County. SSNY designated on 4/26/12. Office loc.: New York NY 10013. Purpose: any lawful act. General Purposes. as agent of LLC upon whom process Co. SSNY designated as agent of NOTICE OF FORMATION OF W S B against it may be served. SSNY shall partnership upon whom process MANHATTAN LLC. Arts of Org filed MOTOU REALTY, LLC Art. Of Org. Notice of Formation of 70045 Holdings mail copy of process to c/o Greenberg against it may be served. SSNY shall with Secy of State of NY (SSNY) on Filed Sec. Of State of NY LLC. Arts. of Org. filed with NY Dept. Traurig, Att: Joshua Hager, Esq., 200 mail process to The LLC, 641 5/8/12. Office location: NY County. 03/31/2000. Off Loc.: New York Co. of State on 3/28/12. Office location: Park Ave., NY, NY 10166. Purpose: Avenue of the Americas, 8th Floor, SSNY designated as agent upon whom SSNY designated as agent upon NY County. Sec. of State designated any lawful activities. New York, NY 10011. Profession to process may be served and shall mail whom process against it may be agent of LLC upon whom process be practiced by LLC: Law. copy of process against LLC to prin- served. SSNY to mail copy of against it may be served and shall mail Notice of Qualification of MEHETIA cipal business address: THE LLC 15 process to THE LLC, 246 East 44th process to the principal business addr.: SUB 1 LLC. Authority filed with Secy. Notice of Qualification of Digital Risk DIVISION ST 6th FL NY, NY 10002. Street, New York, NY 10017. c/o The Community Preservation Corp., of State of NY (SSNY) on 06/21/12. Mortgage Services, LLC. Authority Purpose: Any lawful act or activity. 28 E. 28th St., 9th Fl., NY, NY 10016. Office location: NY County. LLC filed with NY Dept. of State on Notice of Qual. of Two Hundred Purpose: any lawful activity. formed in Delaware (DE) on 06/19/12. 6/20/12. Office location: NY County. Lafayette Mezzanine LLC, Auth. filed Notice of Formation of ACP DSK, Princ. office of LLC: 11 Madison Ave., LLC formed in DE on 11/13/09. NY Sec’y of State (SSNY) 1/6/12. Office LLC. Arts. of Org. filed with Secy. of TIGHT CONTRACTING, LLC, a NY, NY 10010-3629. SSNY designated Sec. of State designated agent of LLC loc.: NY County. LLC org. in DE 1/5/12. State of NY (SSNY) on 06/27/12. domestic LLC. Arts. of Org. filed with as agent of LLC upon whom process upon whom process against it may be SSNY desig. as agent of LLC upon Office location: NY County. Princ. the SSNY on 06/21/2012. Office against it may be served. SSNY shall served and shall mail process to the whom process against it may be office of LLC: 70 Little West St., Apt. location: NY County. SSNY has been mail process to c/o Corporation principal business addr.: 2301 served. SSNY shall mail copy of proc. 24D, NY, NY 10280. SSNY designated designated as agent upon whom Service Co., 80 State St., Albany, NY Maitland Center Pkwy., Ste. 165, to Kushner Companies, 666 Fifth as agent of LLC upon whom process against the LLC may be 12207-2543. DE addr. of LLC: 2711 Maitland, FL 32751. DE addr. of LLC: Ave., NY, NY 10103. DE off. addr.: process against it may be served. served. SSNY shall mail process to: Centerville Rd., Wilmington, DE 19808. 615 S. DuPont Hwy., Dover, DE 160 Greentree Dr., Ste. 101, Dover, SSNY shall mail process to the LLC Michael Marrone, 1221 6th Ave., NY, Arts. of Org. filed with Secy. of State, 19901. Cert. of Form. filed with DE Sec. DE 19904. Cert. of Form. on file: at the addr. of its princ. office. NY 10020. Purpose: Any Lawful 401 Federal St., Dover, DE 19901. of State, 401 Federal St., Dover, DE SSDE, Townsend Bldg., Dover, DE Purpose: Any lawful activity. Purpose. Purpose: Any lawful activity. 19901. Purpose: all lawful purposes. 19901. Purp.: any lawful activities.

20 | Crain’s New York Business | July 9, 2012 improve transportation in the THE AIR UP THERE: Plans to supersize midtown east Grand Central’s 1.35 area by building the Second million square feet of Avenue subway and extending unused air rights could the Long Island Rail Road Continued from Page 3 39th to East 57th streets between place it. To help reverse that devel- be sold to help spur into Grand Central. The hope is that the rezoning Second and Fifth avenues.The pro- opment disincentive, sources said office development Rezoning alone would not will trigger the building of enough posed rezoning district wouldn’t be the planning department had dis- nearby. spark a mad dash for the new Class A towers to keep the city a perfect rectangle, however, since cussed raising the area’s FAR to 18 wrecking balls. Landlords competitive in the global market for the most densely populated residen- to 26 from the current 12 to 15. need deep pockets to go with- top talent and industry in the com- tial niches would be excluded. For It’s possible that buildings in out rent revenue for several ing decades. Such buildings could example, the upzoned area from midtown east could grow even larg- years as they empty a building include features like high-ceilinged, East 48th to East 57th streets would er than what the city’s revised zon- of tenants, demolish the struc- column-free floor plans and plenti- extend east only as far as Third ing permits.That’s because there are ture, rebuild bigger and better, ful sources of power to run high- Avenue. A planning department 1.35 million square feet of unused then lease the place anew. tech operations. spokesman declined to comment on air rights above Grand Central that Most owners likely will be The administration has been the plan, which will be presented to developers could conceivably buy to content keeping their solid if working diligently on the rezoning two community boards this week. boost the size of their buildings. stodgy midtown properties as proposal so it can be completed be- Only two new office buildings It was unclear how much it might they are. fore pro-development Mayor have been constructed in the mid- cost to purchase the air rights above “I think it could be 10 to 20 Michael Bloomberg leaves office in town east zone in recent years: 300 the commuter terminal—or how years before you start to see ef- January 2014. and 510 Madison Ave. The average the money would be used. A fects of the project,” Mr. Spin- “We need to offer the kind of of- age of buildings in the zone is 73 spokesman for the Metropolitan ola said. fice space that people want to work years, with 80% of the structures Transportation Authority, which Still, some midtown build- in,” said Steven Spinola, president older than 50. In contrast, the aver- owns Grand Central, said the ings could take swifter advan- of the Real Estate Board of New age age of a London office building agency was in discussions with the tage of the new zoning oppor-

York. “We need to keep up with the is 43,according to the city’s study;in city’s planning department about buck ennis tunities than others. rest of the world.” Chicago’s Loop, only 54% of the the rezoning proposal. L&L Holding has said it buildings are older than 50. Some community activists fear mand for services such as trash re- plans to tear down 425 Park Ave.af- Average age of buildings: 73 years The city’s zoning rules deter- that larger office buildings housing moval, electricity and police protec- ter tenants’ leases expire in 2015, for Mr.Spinola added that he hoped mine a crucial development yard- even more workers will put more tion generated by having larger instance. there would be some kind of “finan- stick called a floor-to-area ratio, or pressure on already-stretched city buildings. Advertising agency Y&R owns cial incentives” for property owners FAR, which ultimately determines services. For example, the East 51st “There are quality-of-life issues and occupies all of 285 Madison to take advantage of the new rules the size of a building that can be Street subway platform is narrow that need to be addressed,” Mr. Ave., which is for sale. A new own- for midtown east, but emphasized constructed on a site. In midtown and overcrowded, according to Thompson said. er could opt to tear down the 1920s- that’s a separate discussion from the east, some vintage towers built be- Mark Thompson, chairman of era structure, where a woman died rezoning plans. fore the current zoning went into ef- Manhattan Community Board 6, Billions spent on transit upgrades last year in a grisly elevator accident, In a preliminary study, the De- fect in 1961 exceed what could be which includes the midtown east But supporters of supersizing and start over. Ⅲ partment of City Planning defined built there now. That means if a neighborhoods of Tudor City and midtown’s real estate potential say the midtown east area in its broad- landlord demolished one of them, Turtle Bay. He wants to know how their efforts make sense because bil- LISTEN to a discussion at est terms as stretching from East only a smaller property could re- the city will handle increased de- lions of dollars are being spent to CrainsNewYork.com/podcasts

July 9, 2012 | Crain’s New York Business | 21 IN THE BOROUGHS BROOKLYN SCHOOL’S OUT: Shumana Ashique (left), Eva Johana (center) and Meethila Rahman said they’ve visited Coney Island’s beach and Coney Island, baby! boardwalk three times this summer so far.

Continued from Page 1 Longtime establishments are group Coney Island USA, is him- also finding fresh opportunities. self evidence that the rebirth Stillwell Avenue’s Coney Island hasn’t completely come at the cost Beach Shop, which has sold mer- of the area’s rogue charm. But the maid T-shirts, shot glasses and neighborhood’s success may make other kitsch since 2002, opened a it harder to resist pressure from de- second store last year inside the velopers to grow, like Times renovated Stillwell Avenue sub- Square, ever bigger and more up- way station. This summer, it is scale. Brooklyn Borough Presi- partnering with Nathan’s Famous dent Marty Markowitz has come to run the hot dog hawker’s gift out swinging for a casino at Coney shop and has launched Brooklyn Island, should New York legalize Beach Shop, a more upscale spin- gambling within the next few off nestled next to Ruby’s, a dive years. And developer Joseph Sitt that opened in 1934. still dreams of building big-league “We have heavily expanded in projects, such as high-rise hotels the last few years,” said Maya and megaplexes, on the peninsula. Haddad, who runs the retail shops with her father, Haim. “The peo- ‘Take things to the next level’ ple keep on coming.” “I love what we’ve done,” Mr. Some have naturally bemoaned Sitt said of the Coney Island turn- the loss of Coney’s down-at-the- around. “But it’s time to take heels character that for decades in- things to the next level.” spired a faithful following, from The Bloomberg administra- Beat poets to songwriters like Lou tion rezoned the neighborhood’s Reed. Central Amusement Inter- derelict lots in 2009 as part of a national, which also leases city- plan to transform the old “People’s owned beachfront property, boot- Playground” into a dazzling ed dingy haunts like Cha Cha’s of amusement Coney Island park with shop- and Shoot the ping, housing Freak to make and family en- way for more tertainment. G-rated hang- After years of outs. tough negotia- And while tions, the city mainstays like snapped up sev- Ruby’s and en acres of Paul’s Daugh- prime real estate ter, a food from Mr. Sitt stand, were al- for nearly $100 lowed to re- million.The de- main on the KEEP CONEY WEIRD: Self-styled Mayor of veloper, mean- boardwalk, Coney Island Dick Zigun said increased foot while, promised they were traffic from new development has helped to scale back his forced to un- keep some of the seaside site’s quirkier original vision dergo renova- amusements profitable. Still, he noted, “a of a $1.5 billion tions that some lot of my old friends aren’t here anymore.” Las Vegas-style Coney purists resort. PLAY BALL: The Brooklyn Cyclones moved to claim neutered The up- what’s now called MCU Park in 2001. their old-school STEEL STOMACH: grades have paid vibe. Ruby’s, for Betty Bloomerz is a off. Last year, instance, re- feature attraction at the Coney Island 640,000 visitors streamed through cently swapped its old hand-paint- Sideshow, whose the turnstiles at 2-year-old Luna ed sign for a plastic awning remi- theater on Surf Park and the Scream Zone, ac- niscent of a suburban restaurant Avenue was cording to park operator Central chain. landmarked in Amusement International— Builders like Mr. Sitt don’t 2009. numbers that Coney Island’s think the city is moving fast amusement district hadn’t seen enough to prepare Coney Island since the famed Steeplechase Park for the next wave. Officials have closed in 1964. This season’s yet to deliver, he noted, on $150 crowds are expected to swell after million in infrastructure projects the offerings were expanded in that would improve sewer systems May to include a go-cart track and for underdeveloped parcels of a host of new rides. land. “Candidly, we need to get this done,” Mr. Sitt said. “The Brand-name Brooklyn expansions vision is far from complete.” The crush of newcomers has New York City Economic De- caught the attention of popular velopment Corp. President Seth brownstone Brooklyn businesses. Pinsky has insisted the city will The famed Dumbo pizzeria break ground on the upgrades by Grimaldi’s arrived last month on the end of the year, a timeline that Stillwell and Surf avenues, sits well with “Mayor” Zigun. prompting hourlong waits for its “Coney Island belongs in the coal-fired pies. Tom’s Restaurant, same breath as Atlantic City and FAMILY CIRCLE: Steve and the 76-year-old Prospect Heights Las Vegas,” Mr. Zigun said. Dennis (right) Vourderis’ father diner, signed an eight-year lease “We’re not there yet, but I can see bought the 92-year-old Wonder Ⅲ Wheel from the original owner. on the boardwalk and will soon be a pathway to it.” Now the brothers run it with the dishing its crabcakes, cinnamon help of eight sons and nephews. butter and bottomless cups of cof- LISTEN to a discussion at fee year-round. CrainsNewYork.com/podcasts

22 | Crain’s New York Business | July 9, 2012 TATS AMORE: Drew Romagnoli and Allie Cano, two of the estimated 11 million FROM visitors to Coney Island this year. AROUND THE CITY

QUEENS Graffiti’s days are numbered When the 7 train surfaces in Long Island City, straphangers are greeted by an oversize likeness of the late rapper Notorious B.I.G. on a hulking warehouse covered in graffiti. Soon they are likely to see two shiny apartment towers. Longtime property owner David Wolkoff wants to replace 5Pointz—a five-story,block-long canvas for graffiti artists for 15 years—with 1,000 residential units. In addition to the 41-story and 47-story buildings, his plan includes some 30,000 square feet STREET MEET: A biker bar, of retail space, a public parking an annual tattoo and garage and designated walls motorcycle festival and where aerosol artists can continue Nathan’s hot dogs give the claiming their tagging rights. easy riders a reason to “It was inevitable,” said Mr. return every summer. Wolkoff, whose family bought the building in the late 1960s, leasing space to manufacturers and working artists over the years.“We knew many, many years ago that Long Island City was going to change.” The city must first approve the Wolkoff family’s request to increase the site’s building size to 1 million total square feet from 400,000.Graffiti Gauguins might consider spraying at 5Pointz while they can: Demolition could take place as soon as fall 2013. —ken m. christensen

MANHATTAN Hard hats help the Village heal Construction workers are being welcomed in notoriously development-shy Greenwich Village. Since internal demolition began at the old St. Vincent’s Hos- pital complex in March, Seventh and Greenwich avenue businesses are getting a boost, according to the Greenwich Village- Chelsea Chamber of Commerce. “We are starting to see guys in hard hats come in for coffee,”said Michael Caswell, owner of the Roasting Plant coffeehouse on Greenwich Avenue.His business had slipped by nearly a third since the hospital closed in 2010. Rudin Man- agement Co., which won approval to OVER THE MOON: ᮣ Isabella Luna (inset, right) build a luxury resi- noted gleefully that she dential complex de- shares a name with Coney spite community op- Island’s revamped Luna position, said the Park, which she visited this site’s 180 workers summer from California. will swell to 550 once construction work gets into full swing. That’s far fewer than the 3,500 hospital staffers who used to frequent local establishments. Photos by Buck Ennis. Additional reporting by Mary Shell —amanda fung

July 9, 2012 | Crain’s New York Business | 23 year, she opened a second shop in L.A., and also sells at several retail Menswear boom boutiques around the country. She’s Frozen-yogurt chains planning to focus on social media Continued from Page 3 school at Columbia, I’d take the No. and on adding videos to her e-com- Continued from Page 4 cold climates, such as Denver, has batches of product.Here are five up- 1 train down to the garment center merce site. company, which opened a 1,200- given the 6-year-old chain the con- and-comers riding the wave: and literally knock on doors,” ex- “She’s not in this ivory tower [re- square-foot location in Syosset, fidence to finally enter New York. plained Mr.Alexander,who eventu- moved from her customer],” said L.I., in May and just signed a lease Locations will open in August on Suiting up: Freemans Sporting Club. In ally found a factory on West 29th Wendell Brown, senior fashion edi- in the Bronx, caters to children by the Upper East Side and in June, FSC gave sartorialists a new Street. “I know all the workers; I go tor at Esquire. “She hangs out with offering chalkboards and toys. Chelsea. offering. The 8-year-old company over there every day and see our bags the type of guys she designs for and Menchie’s also partners with local Despite such ambitious plans, opened a 1,000-square-foot studio being made by hand.”He added that is very in touch.” schools for education programs, ac- many of these chains could have where each tailor toils for 80 hours he has stayed local because it gives cording to CEO Amit Kleinberger. trouble persuading franchisees to to produce a $4,000 suit by hand. him a better connection to the prod- Tie one on: David Hart & Co. In a fac- “Menchie’s has become every pony up the high fees associated The bespoke studio, which is locat- uct and the people who make it. tory in Brooklyn’s Sunset Park, child’s favorite destination,”he said. with opening a fro-yo store. Costs ed above FSC’s Lower East Side The company is on track to end workers spend 45 minutes Meanwhile, Yogurtland aims to for Menchie’s,Yogurtland and Let’s store at the end of an unassuming al- the year with revenue above $1 mil- hand-sewing each one of reach consumers through its prod- Yo! can range from $280,000 to near ley, epitomizes the brand’s back-to- lion, double what it was in 2011. David Hart’s ties. The uct offerings. The company allo- $700,000, and profits can be slim. basics mantra. In June, Mr. Alexander opened process takes about three cates 30% of its resources to product Ms. Spiegel estimates that a typ- It’s an ideal that resonates with a store on Thompson Street. In times as long as it would development in order to one-up any ical franchised store has a net of consumers, who are snapping up the keeping with the brand’s rustic with a machine, but Mr. rivals, Mr. Sidoti said. $100,000 each year—not much company’s wares at a relatively fast image, he personally built the Hart insists it’s worth it. Yogurtland does not buy off the compared with initial costs, the pace. FSC, which boasts more than 600-square-foot space’s cabi- “We’re developing shelf but instead creates its own ex- price of building out a store, royal- $4 million in annual revenue,has en- netry, using custom copper everything from the otic flavors, like Birthday Cupcake ties and marketing fees. joyed 40% growth in year-over-year piping and hand-stained ground up,”he said, Batter and Dragon Passion Tart. “It’s a good business,” she said, sales for the past three years. It has birch wood.This fall, he plans noting that the ties Recent retail success in cities with “but no one gets rich on it.” Ⅲ two Manhattan stores and a San to expand by offering vests and are better made Francisco outpost, with shops in overcoats. “because we do it Tokyo and Los Angeles in the works. by hand, locally, which is a Each store offers Little woman, big pants: Unis. very special thing.” Tax break’s travails something extra. The It’s rare that a successful Since founding his New York outposts, menswear brand is designed neckwear company five for example, all by a woman, yet Eunice Lee years ago,Mr.Hart,whose Continued from Page 6 Mr. Cuomo, said the governor sup- boast shops from has been at the forefront of wares are sold at Bloom- the Housing Committee. “Three ports the condo/co-op tax break and FSC Barber, an af- men’s fashion for almost a ingdale’s and Saks, among times that day I was told we were go- “will continue to work with the Leg- filiated company. dozen years with her Unis others, has expanded into ing to get one and that we were go- islature on the other issues in future The Tokyo store brand. socks. Many ties sport unique pat- ing to do the bill.There’s agreement sessions.” will offer a cocktail “It’s definitely a boys’ terns or clever novelty prints like on every aspect of that bill.” The city’s J-51 tax-abatement bar, while the L.A. club, but I have a very spe- UFOs—inspired by Mr. Hart’s ap- As for the strategy of tying the program, which provides financial outpost might cific point of view,”said Ms. preciation for Rod Serling of Twi- condo/co-op tax break to other incentives to developers for updat- have a motorcycle Lee, a self-described “guy’s light Zone fame. Sales for 2012 are housing policies, Mr. Lopez ex- ing aging housing stock and is sup- repair shop. FSC girl.” expected to reach $200,000, a 29% plained: “You isolate, and it stands ported by powerful real estate inter- is also a partner When she launched jump over last year. by itself—what do you think hap- ests, expired at the end of last year. in Freemans Unis in 2000, she manu- As he establishes relationships pens to it? Where is the leverage?” The 421-a program, a widely used restaurant, a factured in China, pro- with department stores and larger Michael Whyland, a spokesman incentive for building multifamily popular eatery ducing with factories she boutiques, Mr. Hart is hoping to for Assembly Speaker Sheldon Sil- housing in New York City, was ap- that launched was familiar with from eventually expand his line into a full ver, backed Mr. Lopez’s version of proved last year for another four- in 2004, just her days at fashion hous- clothing collection for men. In the events. year extension. And laws protecting before the es like DKNY. But after meantime, his design studio will re- tenants of industrial warehouse lofts FSC retail expanding into wom- main housed inside his 1,500- Agreement on whole bill were greatly expanded in 2010. shop opened next enswear, Ms. Lee quickly found square-foot Brooklyn Navy Yard “The bill that has been agreed to The bill would reinstate J-51 door. herself spread too thin. In addition, apartment. includes those things,” he said, refer- retroactive to June 2011 and extend Mr. Kilroe, a former customer ring to the additional housing meas- it through 2014, and would tinker who joined FSC three years ago, ex- Shoe in: Mark McNairy New Amster- ures. “It has been in print since June with 421-a and the loft rules. pects the company’s new factory to ‘We do it by dam. Known for his classic shoes 21,”which was the last day of session. “Right now, there is an agree- be between 5,000 and 10,000 square with a modern twist and a sardonic When passed, the bill extending ment between the Senate and As- feet. It also will make FSC, which hand, locally, personality, Mark McNairy—re- the tax break “will cut taxes for the sembly to do the total bill,” Mr. manufactures 98% of its goods cently named to GQ’s Best New vast majority of condo and co-op Lopez said. “And when we go back, within 10 miles of the Lower East which is a Menswear Designers list—makes owners, who pay a disproportionate we will do it.” Ⅲ Side, completely independent by some of the industry’s most coveted share of the city’s property-tax bur- eliminating any middlemen. “It’ll very special footwear. Mr. McNairy, who works den,” Mr. Whyland added. LISTEN to a discussion at be challenging,” he said, noting that out of offices in the garment center, Joshua Vlasto, a spokesman for CrainsNewYork.com/podcasts such a venture runs against the trend thing’ SoHo and New Jersey, founded his of overseas manufacturing. “But at label in 2009 and now sells at trendy the end of the day,it’ll result in a bet- stores such as Opening Ceremony 7 GOLDS, 5 SILVERS, 1 BRONZE ter product.” and Barneys New York.The shoes— which can cost as much as $500—are It’s in the bag: Ernest Alexander. Dis- many factories asked for minimum all manufactured in England. CRAIN’S: BEST PAPER, WEBSITE illusioned with advertising and in- product orders that were larger than “He has some very original ideas Crain’s New York Business won 13 editorial awards from the Alliance of Area vestment banking, Ernest Alexan- her nascent brand could handle. that are really kind of cool and Business Publications last month, including top honors for Best Newspaper der set out to create his own business By 2007, she was ready funky, and they’re some- in the Large Tabloid category and Best Website. The organization’s annual three years ago. He emerged with a for a reboot—she decided thing you don’t see in awards competition recognizes excellence in journalism, photography and namesake brand popular for its to ditch women’s and fo- the men’s market,” design achieved by regional business publications across the United States. waxed canvas bags and slim-fit, tai- cus Unis around a few said Mr. Brown “It’s hard to get better than that—being named both the best local lored shirts—all of which are man- key men’s pieces like chi- of Esquire. “He business newspaper and best local business website in the country,” said ufactured locally. nos. She now produces started that Crain’s Editor Glenn Coleman. “It’s a testament to our newsroom’s talents.” “My second year of business entirely in New York and whole thing Crain’s New York won five more gold honors in the contest: Best Editorial Los Angeles. with the (on behind-closed-doors dealmaking in Albany); Best Body of Work by a “I decided, I’m going to neon-col- Single Reporter (for Wall Street stories by Aaron Elstein); Best Use of take the subway,go to mid- ored soles.” Photography/Illustration; Best Special Section Design (for the 2011 “40 town, meet with pattern- Mr. Mc- makers and factories and Nairy’s shoes appeal to Under 40” feature package) and Best Overall Design. just make what I can af- men who want to adopt a Two silver honors were awarded to Barbara Benson for Best Online Scoop ford,” said Ms. Lee. “I thought the more polished look without sacrific- and Best Investigative Reporting, for stories on Peninsula Hospital’s chino was going to come back, and ing their edge. bankruptcy. Ms. Benson’s and Gale Scott’s Crain’s Health Pulse newsletter I know I’m part of why it did.” The brand, which now includes also won silver for Best Industry-Specific E-newsletter. The eight-person company saw menswear, has increased its sales in Rounding out the silvers were honors for Best Feature (“The Great Escape” sales growth of 60% last year, ac- each of its three years in business, by Elizabeth MacBride) and Best Front Page. The newspaper also won bronze cording to Ms.Lee,who declined to said Mr. McNairy, who declined to for Best Print Scoop (“Carver on the Brink” by Mr. Elstein). provide annual figures. Late last provide specifics. Ⅲ

24 | Crain’s New York Business | July 9, 2012 INSIDE HELLUVA TOWN Source Lunch Celeb chef eyes Ad man John ‘Ozzy’ new empire Osborn PAGE 26 Tom Colicchio is taking hospitality Out and About to the next level later this summer when he opens his first hotel: Catch some musical Topping Rose House in theater PAGE 27 Bridgehampton, L.I. The celebrity chef will operate the property along with its eponymous restaurant—and decide whether he wants to start a bill bettencourt hotel empire. “It could be the beginning of a new business for us,” said Mr. Colicchio (above), who founded Craft restaurants. In the meantime, he’s hiring bellmen, housekeepers, valets and restaurant staff. Mr. Colicchio tapped veteran luxury hotelier Jeff Morgan, who has operated Caribbean resorts, to be the property’s general manager. Built in the 1800s, the 22- room inn is owned by Simon Critchell, a former chief executive of Cartier North America, and Bill Campbell, a senior adviser at JPMorgan Chase. “When the owners approached us to do the food, we said we wouldn’t do it unless we were running the entire operation,” said Mr. Colicchio. “We were involved in choosing everything, including the colors.” The restaurant will use produce grown on the hotel’s one- WHO GETS WHAT: Media acre farm. executive Gregg Sullivan and —lisa fickenscher his girlfriend of five years, Antonia Mantus, are finalizing a cohabitation agreement. Name game City Center isn’t the only arts organization offering naming rights this summer (Crain’s, June 25). ISSUE Project Room, known for presenting experimental music, is in the hunt for a donor as well. The Brooklyn organization, which attracts an audience of about 10,000 affluent young professionals annually, moved into a new space at 22 Boerum Place in January. It has raised most of Sealed with a kiss the $3.7 million needed for a full- scale renovation that will be completed by 2014. A concert Cohabitation contracts provide legal protections, series featuring Philip Glass and Laurie Anderson last month personal guidelines in case the live-in relationship ends brought in $30,000.

The group wants $5 million buck ennis for a 15-year naming deal. Other options are available: Sponsoring a DON’T PUT A season of programming goes for BY MIRIAM KREININ SOUCCAR $100,000—HBO was a recent RING ON IT! supporter—while an individual enine Cohen’s boyfriend of five years is getting ready to move into her Upper East Side Percentage of NYC’s performance goes for $10,000. apartment. But before he does, he has to sign a legal agreement stipulating the terms of female population who “We are just beginning to have never married. reach out to individuals and their relationship and how to divvy up their assets if they break up. ¶ Ms. Cohen, a 49- foundations,” said Executive year-old interior designer and divorcée, has no desire to marry again. She just wants to Director Ed Patuto, adding that 41.7% corporations like Bank of America be sure that if she breaks up with her current flame, attorney David Howard, she will 38.7% are also on his list. retain custody of her two golden retrievers. If they stay together, she wants to —valerie block guarantee that her grown children receive all of her assets when she dies. At the same time, Ms. Cohen will have no claim to Mr. Howard’s collection of Andy Warhol paintings. ¶ “It’s like a prenup without being married,” Ms. Cohen said. “I have my own career and assets, and I think it’s superimportant that each of us protect ourselves in case this doesn’t work out.” ¶ Forget the Vera Wang dress and the five-tiered cake. JA growing number of pragmatic New York couples are saying no to nuptials but are 2006 2010 looking for the same legal See COHABITATION on Page 26 Source: Census Bureau joe holmes

July 9, 2012 | Crain’s New York Business | 25 SOURCE LUNCH: Cohabitation contract JOHN ‘OZZY’ OSBORN by Lisa Fickenscher Continued from Page 25 protections that a prenuptial agree- PROTECTING YOUR VALUABLES ment provides. As a result, “cohabitation agreements” are increasingly ATTORNEY ANN-MARGARET CARROZZA typically charges anywhere from taking their place.The legal contract $1,500 to $2,500 to draw up a cohabitation agreement, depending on the sets up the financial obligations for level of complexity. Here is her list of essentials: Advertising exec each party while they are together ● and what the expectations are if the Both parties should have separate counsel. relationship ends. Some go so far as ● Set forth how the “poorer” party will be made whole (or not) in the new NY campaign to specify more personal guidelines event of a breakup. for the relationship, like who gets to ● Deal with pet-custody issues. choose the vacation destination ● Immunize yourself against the other party’s debts. ohn “Ozzy” Osborn, 45, the I watch it religiously.Thank God the each year or even how often the cou- ● Decide whether the parties will be each other’s health care proxy and president and chief executive industry has evolved since then; oth- ple has sex. who will have power of attorney. These are separate documents that of BBDO New York, recent- erwise we’d all be dead.The drinking “More people are opting to do need to be crafted. ly landed a plum piece of and smoking have definitely this,” said Ann-Margaret Carrozza, ● Determine who gets what in the event of breakup or death. business:rethinking the icon- changed. Diversity is probably the an attorney who specializes in estate ic “I Love New York” tourism most important issue facing the ad- ● Remember to also revise your will. —MIRIAM KREININ SOUCCAR J planning and elder law. “It sounds campaign, as well as develop- vertising business today. cold, but just like jumping into a ing a separate initiative to attract cold pool, if you get this out of the That is what drove Miranda Impossibly, some couples find more business to the state. In addi- Is that because it’s led by mostly white way, things get better from there.” White,a 30-year-old real estate en- the process of crafting the docu- tion, the veteran ad man was just men? Ms. Carrozza, who has been trepreneur, and her boyfriend of ment romantic. Gregg Sullivan, a named chairman of the American Your words, not mine. I think there practicing law for 15 years,drew up four years to sign a cohabitation never-married 53-year-old media Advertising Federation. needs to be more diversity and not her first cohabitation agreement agreement.The couple decided not executive and founder of Bayside just black, white, male, female. My five years ago.This year, she has al- only to move in together but to buy Live TV,said he finds the notion of Did you always see yourself in the job is to attract and retain an unfair ready done around 100, more than a place in TriBeCa. Although Ms. marriage antiquated. advertising business? share of the world’s best talent. We in all her prior years combined. White said they were in a loving, “All those TV shows like Bride- I actually wanted to be a meteorolo- have a robust diversity initiative at It’s easy to see why she’s so busy. committed relationship and zillas and Say Yes to the Dress hurt the gist. As a kid, a family member built BBDO, because it helps us do our According to the Census Bureau, planned to get married if they de- future of marriage because they me a chicken coop to teach me how business better. We have to under- married couples represented just cided to have children,for now each make it look so unappealing,” Mr. to be responsible. I had 50 chickens stand and reflect the same degree of 48% of American households in wanted to protect their investments Sullivan said. “The [cohab] agree- and suddenly more eggs than I knew diversity that makes up our audience. 2010, dropping below half of all in case the relationship didn’t work ment frees people to express them- what to do with, so I sold eggs on a households for the first time. The out. In addition to splitting the selves romantically but individually, street corner. You’ve been with BBDO for 20 years. Are trend is most pronounced in New apartment sale proceeds if they as opposed to the artificial social you surprised by your longevity there? York state, which has the highest construction of this marriage ritual.” After your stint in the poultry business, I left briefly in 1995 to work at Nike, percentage of women nationwide Some couples Mr.Sullivan and his girlfriend of what influenced your decision and I realized that I like who have never been married. In five years, Antonia Mantus, are fi- to join the ranks of Madison WHERE being closer to the cre- New York City, never-married nalizing a cohabitation agreement Avenue? ative side of the business. women make up 41.7% of the pop- find crafting that will include health care proxies I grew up in a single- THEY It’s been a good run here. ulation, up from 38.7% in 2006. the document and the formalization of his plans to parent household. I don’t DINED But BBDO turned me The numbers are even higher for leave her “the bulk”of his estate.Mr. remember my father [as a Bar Americain down when I applied for a men here: 46.7% have never been romantic Sullivan hopes it will give Ms.Man- child] because my parents 152 W. 52nd St. job during my senior year married, up from 43.4% in 2006. tus, a hospital administrator, the se- divorced when I was 6 (212) 265-9700 at Dartmouth College. I www.bar With stats like these, say ex- curity she feels she needs to give up years old.A couple of years americain.com worked for Saatchi for perts, cohabitation agreements are her apartment and move in with ago, my father and I met three years until I heard more important than ever. him. It will also include things that up and sort of cleared the AMBIENCE: Big there was an opening at “Like most states, New York Mr. Sullivan said he is still getting air. I realized how impor- power-lunch spot, BBDO on the Diet Pepsi does not recognize common-law should break up, Ms. White has used to, like Ms. Mantus’ desire to tant it is to show up and soaring ceilings, account. I really wanted comfortable half- marriage,” said Liz Mandarano, a dibs on the couple’s golden retriev- help pay their living expenses. give back. As marketers, I booths it, but BBDO told me I Manhattan-based attorney spe- er and their new Knoll sofa. “There is more equity today,” think we have a responsi- wasn’t seasoned enough cializing in matrimonial law. “He and I are both realistic peo- Mr. Sullivan said. “It’s a more bility to do well by doing WHAT THEY ATE: for the job. Eventually I “Therefore, individuals who co- ple,” Ms. White said. “For me, it’s a evolved romance.” Ⅲ good. Ⅲ Mahi mahi, pried the door open by Napa cabbage habit, even for decades, are legally business transaction. I support pre- slaw, salsas, flour telling them that I’d in- considered strangers when it comes nups,and I support both people leav- LISTEN to a discussion at Does that mean you’d turn terview for another piece CrainsNewYork.com/podcasts tortillas to property rights.” ing with what they come in with.” down work from a cigarette Ⅲ Southwestern of business that the company? Cobb salad, agency had, and when I Yes, we would. pulled chicken, got there for the inter- chipotle dressing, cookie plate, iced view, I told them I want- You’re revamping the “I Love teas ed to work on Pepsi, so New York” campaign and ask- Ⅲ Tab: $78 they introduced me to the ing people to submit draw- guy who runs the ac- ings. How’s that going? count. I got the job. We have over 500 drawings that people have submitted,which is extraor- You must be on all the time. How do you dinary.There was this immediate return down the volume? action after the campaign was I take long walks in the woods in announced that we are trying to re- Connecticut with my two black place the heart.We are not changing Labs. One of the hardest things for the slogan. All of the communica- me in life is that I have this drive to tions are the same. We are just pro- give back and to get involved in so viding a canvas so people can express many things, whether it’s the Police all the reasons they love the state. Athletic League or the Christopher and Dana Reeve Foundation—I’m a What do you love about New York? board member of both. Then there I would answer it in one word: are those days when I’m riding the diversity. train home and I think I’m never going to abandon the dream of being a Are you a fan of Mad Men? meteorologist. Ⅲ

INSIDE TIP Look for chef Bobby Flay, who’s often at the restaurant.

26 | Crain’s New York Business | July 9, 2012 OUT AND SNAPS STARS CLOSE OFF-BROADWAY CHILDREN’S SHOW ABOUT by Emily Laermer and Miriam Kreinin Souccar

CAREER BUILDERS WEDNESDAY, JULY 11 The New York State Bar Association is hosting a program, RECENT DEVELOPMENTS IN E-DISCOVERY, which will cover the latest news in electronic discovery and feature an overview of recent state and federal cases and CULTURE FIX statutes. The program, which offers MONDAY, JULY 9 professional credit, will also be streamed bruce glikas As part of a world tour, the musical FELA! as a live webcast. Viewers can stream the JULIANNE MOORE (left) and ROSE CAIOLA on July 1 linsley lindekins will reopen on Broadway for a 32- program online and email panelists at the final show of Freckleface Strawberry. Based on Event Vice Chairs DOUG KERRIDGE, managing director at the French bank Natixis, performance run.The show, which questions. The event is at 9 a.m. at the the children’s book by Ms. Moore and conceived for and SUSIE OLIVER KERRIDGE, at the New York Philharmonic Young New Yorkers the stage by Ms. Caiola, the off-Broadway show received three 2010 Tonys, will run Concierge Conference Center, 780 annual summer party on June 27. The event, held at an Upper East Side private club, debuted in September 2010. featured a chamber performance by Philharmonic violinist Duoming Ba and bassist through Aug. 4.The first show is at 7 Third Ave., between East 48th and East Satoshi Okamoto. It was attended by more than 200 guests. p.m. at the Al Hirschfeld Theatre, 302 49th streets. Tickets for the live W. 45th St., between Eighth and Ninth program and the webcast are $140 for avenues.Tickets start at $47, and can be members and $240 for nonmembers purchased online at www.felaonbroadway and can be purchased online at .com, by phone at (212) 239-6200 or in www.nysba.org/cle. person at the theater. THURSDAY, JULY 12 THURSDAY, JULY 12 Join entrepreneurial group General The Jewish Museum will kick off its Assembly for STARTUP EXITS: DEALMAK- SUMMERNIGHTS SERIES with Howard ING IN SOCIAL COMMERCE. Speakers will Fishman and the Biting Fish Brass Band discuss which companies are making in concert. The event includes an open acquisitions and which startups are bar with beer and wine, and free ice likely to be acquired. Presenters include cream, and kicks off at 7:30 p.m. at 1109 Fifth Ave., between East 92nd and East Thrillist CEO Ben Lerer, dotbox CEO 93rd streets. Tickets are $15 for the Ashley John Heather and OpenSky general public, $12 for students and CEO John Caplan. The event is at 7 seniors, and $10 for museum members, p.m. at 902 Broadway, between East and can be purchased online at 20th and East 21st streets. Tickets are www.museumtix.com. For more $75. For more information, visit information, call (212) 423-3337. www.generalassemb.ly. diane bondareff DON’T MISS MUSICAL THEATRE FESTIVAL JOHN THIEL, head of U.S. wealth management and MONDAY, JULY 9 Toastmaster MEREDITH VIEIRA, host of the TV show Who Wants to Be a Millionaire, the private banking and investment group at Bank of THE NEW YORK MUSICAL THEATRE FESTIVAL with LOUIS A. SHAPIRO, president and chief executive of the Hospital for Special America Corp.’s Merrill Lynch, at the American Cancer will host its ninth annual event, which will Surgery, at the hospital’s 29th annual tribute dinner last month. The event raised $2.6 Society’s seventh annual Financial Services Cares include 34 musical productions and special million for education, research and patient care. More than 1,000 guests attended. gala. The event raised more than $1.5 million. programs. The shows, which include A Letter to Harvey Milk, Arnie the Doughnut and Baby Case, will run at five midtown Crain’s New York Business venues, including the 45th Street Theatre Presents and the Alice Griffin Jewel Box Theatre at the Pershing Square Signature Center. The festival will run through July 29. Tickets are $25 for individual performances and can be purchased online at www.nymf.org, via phone at (212) 352-3101 or at the NYMF Hub at 330 W. 42nd St., between Eighth and Ninth avenues. For THE GUIDE TO HIGHER more information, visit www.nymf.org/member. EDUCATION OPENING FUNDRAISERS FRIDAY, JULY 13 WEDNESDAY, JULY 11 The Morgan Library & Museum The Bowery Mission will host AN EVENING ON A Special Advertising Section will exhibit composer Philip THE BOWERY: RECEPTION AND SILENT AUCTION. Glass’ autograph score for The event will include a silent auction, with Einstein on the Beach and director wine and other drinks, and will support On August 6, Crain’s New York Business will publish a special guide Robert Wilson’s production homeless New Yorkers and at-risk youth storyboard in ROBERT WILSON/ served by the Bowery Mission. The party devoted to higher education for professionals. If you are interested in PHILIP GLASS: EINSTEIN ON THE begins at 7 p.m. at the Bowery Hotel, 335 climbing the career ladder through education, be sure not to miss this BEACH. The exhibition will run Bowery at East Third Street. Tickets start at through Nov. 4 at the museum at $85. For more information or to purchase valuable resource. 225 Madison Ave. Tickets are tickets, visit www.bowery.org. free with museum admission, which is $15 SUNDAY, JULY 15 for adults and Urban media company Black Thoughts $10 for Entertainment will host its FIRST ANNUAL students, SHOWCASE AND FUNDRAISER. The event The Guide to Higher Education will showcase programs and courses seniors and will include food, beverages, live from schools throughout the New York City area, helping the business children performances, raffles, and art and media under 16. showcases. It starts at 5 p.m. at 3TenLounge, community navigate the educational offering landscape. Visit www 310 Bowery at East First Street. Tickets are .themorgan $20. To purchase tickets or to get more .org/programs information, contact Brian Kessler at (718) bloomberg newsbloomberg for more info. 877-1245. Publication Date: 8/06/2012 Materials Due Date: 7/19/2012 MARK YOUR CALENDAR… SUNDAY, AUGUST 5 The Roundabout Theatre Company’s ANYTHING GOES will end its run as the company’s second-longest-running show. The final show is at 2 p.m. at the Stephen For advertising opportunities, please contact Trish Henry Sondheim Theatre, 124 W. 43rd St. Tickets for the performance start at $69 and at (212) 210-0711 or [email protected]. can be purchased online at www.telecharge.com, by phone at (212) 239-6200 or in person. Visit www.anythinggoesonbroadway.com or www.roundabouttheatre.org.

July 9, 2012 | Crain’s New York Business | 27 play a business travel essential Productivity can’t be achieved without balance. That’s why we go beyond business tools to offer our guests what they need to stay whole, like bikes to borrow, spaces ﬂ ooded with daylight, Relax evening wine receptions, healthy grab ‘n go meals and more.Space Discover the to essentials live of yourbalanced lifetravel.

Element New York Times Square West Book now for 20% off elementhotels.com

©2012 Starwood Hotels & Resorts Worldwide, Inc. All Rights Reserved. Preferred Guest, SPG, Element and their logos are the trademarks of Starwood Hotels & Resorts Worldwide, Inc., or its afﬁ liates. For full terms of this offer, please visit elementhotels.com