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TOP STORIES Textbook Digital efforts fall answer to short at magazine NY jobs —Greg David giant Time Inc. on Columbia’s PAGE 2 expansion ® plans Chinese firms list Page 13 on Nasdaq for prestige and access to cash VOL. XXIII, NO. 34 WWW.NEWYORKBUSINESS.COM AUGUST 20-26, 2007 PRICE: $3.00 PAGE 3 MARKET CHAOS HITS HOME Rate talks between hospitals, insurers getting tense Wall Street’s rookies Well is dry PAGE 3 Business owners in for real Queens call for socked by first crisis probe of chronic estate flooding problems Twenty-something SURGE IN FRESH FACES PAGE 25 financiers struggle deals in teeth of the rout; Labor in NYC: UFT Transactions stall, adds members; job fears mounting chart ranks city’s buyers walk away largest unions BY AARON ELSTEIN as lenders pull plug UNION REPORT, PAGE 19 jean-philippe aractingi has never seen anything like this. BY TOM FREDRICKSON Markets plunge,then soar,then BUSINESS LIVES plunge again, not in days or weeks, the credit crunch is paralyzing GOING TO EXTREMES but in minutes and even seconds. the New York real estate market. In recent weeks, three of Wall In the past few weeks,financing Daredevil execs are taking risks; employers Street’s longtime titans—Bear for almost all large commercial and are wary PAGE 31 Stearns, Goldman Sachs and residential projects in the city has Kohlberg Kravis Roberts—have dried up. each seen their reputations sullied. As a result, some property de- Meanwhile, armies of professional velopers and investors are being and amateur investors are bolting forced to abandon deals and are for the exits. losing hundreds of thousands of For scrubs like Mr. Aractingi, a dollars in deposits. Those who are 25-year-old associate trader at closing deals are being forced to BNP Paribas in midtown, the double their down payments and

world has suddenly gone haywire, lindström bekka pay significantly higher interest

and his once-satisfying days at the bloomberg news rates. office have become grueling “The blood on the streets AT DEADLINE marathons. one has the time or energy to hear find themselves facing something proved that things go down as well “It’s crazy,” says Mr. Aractingi, about other people’s problems. entirely new to them—a full- as up,” says Geoffrey Rice, a senior A REPORT ABOUT THE who notes that when the markets “There is so much stress,” he says. blown market crisis.With no expe- director at CB Richard Ellis/Cap- AVAILABILITY OF BROADBAND go into free fall, all conversation All across Wall Street, analysts, rience of their own to fall back on, ital Markets. “The markets have service in New York City has with colleagues ceases because no traders and bankers in their 20s See WALL STREET on Page 8 See REAL ESTATE on Page 8 been delayed. Last year, Chicago-based Diamond IN THE MARKETS Mortgage fears pinch E*Trade Page 4 EDITORIAL Local leaders must brace for economic fallout Page 12 Management & Technology Consultants was commissioned by the city’s Economic Development Corp. to conduct the study, NY Democrats enjoy $1B helping of pork which was supposed to be completed this summer. It is now scheduled for the fall.The midway through Washington’s an- EDC, which declined to New generation nual appropriations process. discuss what Diamond has learns power of The total disclosed so far—10% turned up so far, asked the firm of the national figure, even though to expand its research. majority; action New York accounts for just 6% of soon shifts to Senate the U.S. population—shows De- THE FOOD BANK FOR NEW YORK mocrats wielding their clout in their CITY has acquired first year of majority rule since 1994. FoodChange Inc., a 27-year- BY ERIK ENGQUIST Local Democrats, reflecting on old nonprofit that provides their new ability to snag so-called emergency meals and financial new york’s delegation in the earmarks, say that the difference is and nutrition education to House, cashing in on Democratic palpable. DIVIDING SPOILS: See AT DEADLINE on Page 2 control of Congress, has amassed “Right off the bat, we noticed Rep. Charles Rangel and Sen. Hillary $1.1 billion in federal budget pork that things began to happen,” says Clinton are in a Rep.José Serrano,D-Bronx,who in position to help fellow January became chairman of an ap-

34 local Democrats.

5 propriations subcommittee, a perch

that lets him directly allocate funds. getty images “We recently announced $200 million for the Second Avenue sub- nority party.” He also stuck $50 buy new voting machines. ELECTRONIC EDITION way,” Mr. Serrano says. “I have to million into a supplemental budget “The chairmen of the appropri- tell you, it was less of a pull than [it bill to replace other federal money ations committees are so powerful, NEWSPAPER would have been] being in the mi- that New York lost when it failed to See NY DEMS on Page 9 71486 01068 0 CNYB 08-20-07 A 2 8/17/2007 6:09 PM Page 1

AT DEADLINE Continued from Page 1 Chatwal’s Dream Hotel on West Digitally challenged low-income city residents.The 55th Street. Dream Downtown acquisition boosts Food Bank in is expected to open in fall 2008. its efforts to broaden its offerings to include nutrition THE AMERICAN BAR ASSOCIATION services and will shore up LAST WEEK DENOUNCED Time Inc. past prime? FoodChange, which had a $2.5 mandatory retirement policies million deficit last year.The for law firm partners.The combined nonprofit will have an 413,000-member organization operating budget of about $30 urged firms nationwide to scrap Despite e-push, publisher isn’t growing fast enough million and will be run by Food the age-limiting rules, which Bank president Lucy Cabrera. commonly enforce retirement ages of 65 or 70, on the basis ANN MOORE’S tenure BY MATTHEW FLAMM as chief executive of LIMEWIRE, A MUSIC FILE- that they violate age Time Inc. has been SHARING SITE THAT IS BEING sued discrimination laws. time magazine continues to lose ad pages despite marked by an up- by the recording industry, will Approximately 57% of law firms its radical re-engineering of five months ago, and and-down quarterly start selling music. Last week, with more than 100 lawyers performance. the Manhattan-based company have a mandatory retirement Fortune, Money and Business 2.0 have suffered said it will offer users monthly age, according to the New York double-digit advertising slides in the first half. But subscriptions or the chance to State Bar Association. the decline of some of Time Inc.’s core print buy individual tunes. IRIS properties is an old story at the company. Distribution and Nettwerk FOR THE FIRST TIME IN ITS Productions are the first labels HISTORY, MACY’S IN Herald A more troubling issue is that even with traffic to allow LimeWire to sell their Square will turn over all 39 of its increasing at key Web sites and an all-hands- music catalogs. Last year, major famous storefront windows to on-deck approach to reinventing itself as a record labels sued LimeWire for one product line: the Martha alleged copyright infringement Stewart Collection.The line of multiplatform content company, ad and are seeking $150,000 for housewares will be launched on revenue at the No. 1 magazine every song that LimeWire Sept 10.The window displays, publisher grew only 1% in the distributed.The suit is ongoing. which are already being second quarter. For a business under installed, will stay in place for THE PROPERTY AT 446 W. 17TH two weeks and feature awnings pressure, that’s not good enough. ST., OWNED BY The Covenant in Martha Stewart’s signature Time Inc. Chief Executive Ann House, was recently bought by blue instead of Macy’s Moore has staked her legacy on hotelier Vikram Chatwal, who traditional green. transforming the enterprise into will convert the former rooming facility for homeless children PACE UNIVERSITY IS FACING a 21st century publisher and into a boutique hotel called MORE LABOR HEAT, this time making it the profit machine Dream Downtown. from the New York State United that it was when she took the Restaurateur Greg Brier will Teachers union. On Thursday, create a 24-hour hotel café and a members rallied at the Somerset, reins five years ago. 4,000-square-foot nightclub on N.J., offices of Pace Chairman But Time Inc. got a late start the roof of the 15-story building. Aniello Bianco to demand fair out of the digital gate. Ms. Moore’s The partners teamed up on wages and better working critics complain that she wasted other projects, including highly conditions for staff and adjunct rated Amalia restaurant, which faculty. Pace officials were resources launching the ill-fated Life opened this year next to Mr. unavailable for comment. I newspaper supplement and the low- margin women’s title All You when she getty images CORRECTIONS should have been focused on the Web. An item in the Aug. 13 Real Estate Deals column about the Fulton Street Transit Center was mistakenly accompanied by an artist’s rendering of the World Trade Center Transportation Hub. Her defenders argue that she was See DIGITALLY on Page 10 THIS WEEK IN CRAIN’S GREG DAVID ------13 FAO using Web to calm THE INSIDER------14

WEEK IN REVIEW ------16

REAL ESTATE DEALS------18 buyers about toy recalls

REPORT: UNIONS ------19 ter,” says Edward Schmults, chief practices. SMALL BUSINESS ------25 Store IDs products’ executive of FAO. “They’re looking None of FAO’s products were af- NEIGHBORHOOD country of origin; for non-China-production toys.” fected by Mattel Inc.’s most recent 33 The Web search feature is slated to recall, which included 18.6 million JOURNAL------25 concerns about fall launch in September,and executives toys worldwide. However, the store shopping season are designing floor plans for the did pull some of its Thomas the CLASSIFIEDS ------26 store displays now. Tank Engine toys during an earlier Industry observers approved of scare this summer when more than THE WEEKS AHEAD ------29 BY ELISABETH BUTLER CORDOVA FAO’s move. 20 items in the Thomas & Friends BUSINESS LIVES------31 line were found to have lead-paint fao schwarz, barraged by inquiries Made in China decoration. CORPORATE LADDER------33 from shoppers alarmed by the recent “what fao is doing is answering Before the recalls, the year was LIVING LARGE------34 spate of recalls of toys made in Chi- consumers’ concerns and investing shaping up nicely for toy retailers, na, is trying to assuage customers’ in infrastructure to do it,” says who have had to fight Apple’s iPods EXECUTIVE MOVES------34 35 fears before the holiday shopping Christopher Byrne, an industry and Nintendo’s Wiis for market BOB LAPE ------35 season starts in the fall. The New consultant and head of Byrne Com- share. Retail toy sales increased 3% York-based retailer is adding a fea- munications.“Consumers buy on an in the first six months of 2007, to vol. xxiii, no. 34, august 20, 2007—Crain’s New York Business (issn 8756-789x) is published weekly by Crain Communications Inc., 711 Third Ave., New York, NY 10017. Periodicals ture to its Web site to let parents emotion,not on a rational decision.” more than $8 billion, compared postage paid at New York, N.Y. and additional mailing offices. Postmaster: Send address search for toys by country of origin Still, as in most other toy stores, with $7.8 billion in the first half of changes to: Crain’s New York Business, Circulation Department, 1155 Gratiot Avenue, Detroit, MI 48207-2912. for subscriber service: Call (888) 909-9111. Fax (313) 446-6777.$3.00 a and is creating in-store displays of a vast majority of the products 2006, according to retail trend copy, $59.79 one year, $109.79 two years. (GST No. 13676-0444-RT) ©Entire contents toys made in certain countries. on FAO’s shelves are made in Chi- tracker NPD Group. copyright 2007 by Crain Communications Inc. All rights reserved. “People are asking questions, na. Retailers usually have little con- both in our stores and at our call cen- trol over vendors’ manufacturing COMMENTS? [email protected]

2 | Crain’s New York Business | August 20, 2007 CNYB 08-20-07 A 3 8/17/2007 6:10 PM Page 1

BY THE NUMBERS China on the board SICK HOSPITALS RUN UP THE BILL “In China there’s a lot of prestige for three new york city Nasdaq outdoes BIG PUSH: The associated with a listing on Nas- hospitals set to officially emerge exchange has others in listings, worked hard daq,”says Mr.Ofsink,who has sev- from bankruptcy next month, to get Chinese eral mainland clients looking to list reorganization has not come seen by Chinese companies. here. cheaply. Saint Vincent Catholic as gateway to capital Momentum is building as suc- Medical Centers, The Brooklyn cess stories filter back to China. Hospital Center and Parkway Web-based businesses looking for Hospital, which filed for bank- BY SAMANTHA MARSHALL expansion capital to take advantage ruptcy in 2005, each turned to of China’s exploding broadband small armies of lawyers, consul- the nasdaq’s efforts to attract market have done particularly well. tants and other professionals for more Chinese business are paying Online gaming company Perfect help. Total cost: $88.4 million. off. So far this year, 12 mainland World raised $106 million in its companies have listed on the ex- initial public offering on Nasdaq change, and several more are in the last month. Hospital totals and five pipeline—well ahead of its nine largest expenditures, listings for all of 2006.The Nasdaq Diverse offerings through June, in millions. now boasts 46 Chinese companies , the 2008 olympics in Beijing is with a total market capitalization of also bringing booming tourism more than $40 billion. service firms like Home Inns & If the trend continues, Vice Hotels Management Inc. to mar-

Chairman Michael Oxley said re- bloomberg news ket. Manufacturers also do well. A cently on a visit to China,the coun- Nasdaq listing in June by Spread- try could displace Israel as the ex- NAME IN LIGHTS trum Communications,which pro- change’s largest source of non-U.S. Five most recent Nasdaq listings from China. duces electronic components, listings. Company Listing date Market cap, in millions raised $100.3 million. “Nasdaq is definitely the desti- Of course, Chinese companies nation of choice for these compa- Perfect World Co. July 26 $1,204 don’t always succeed here. nies,” says Darren Ofsink, a partner Some businesses, after initially

China Fire & Security Group July 16 $228 getty images in Guzov Ofsink. The Manhattan Spreadtrum Communications Inc. June 27 $640 doing well, struggle to keep in- SAINT VINCENT CATHOLIC law firm has seen its number of Chi- vestors interested and consequent- MEDICAL CENTERS nese clients rise 50% since 2005. ShengdaTech Inc. May 21 $318 ly lose share value. Operations are The trend demonstrates New China Sunergy Co. May 17 $498 far away, and few mainland CEOs York’s continued appeal as a global have the savvy and communication financial center, despite tanking skills to stay on the radar. $69.3 markets and fierce competition Most of the Chinese companies says John Heilshorn, a partner at Others flame out because they Weil Gotshal & Manges $15.8 from exchanges in Singapore, looking to raise capital here are Lippert/Heilshorn, an independ- lack the resources to keep up with Hong Kong and London. Chinese midsize;they find the Nasdaq more ent investor relations firm. U.S.regulatory demands.For exam- Alvarez & Marsal $11.7 chief executives recognize that a accessible than the NYSE but more Outside forces have also driven ple, Bodisen Biotech, a Wall Street listing here gives them more of prestigious than Amex. The Nas- Chinese companies to the Nasdaq. darling when it debuted on the Speltz & Weis $8.8 what they need: liquidity, a diverse daq is winning against internation- Many institutional investors re- Amex in 2005, was delisted in May investor base and the legitimacy al competition partly because it quire a listing on the exchange.And amid allegations of securities fraud. Huron Consulting Group $8.0 that comes with meeting Sarbanes- represents a broader range of indus- mainland firms hope that listing in Nevertheless, lawyers and audi- Oxley’s tough requirements. tries, while the London Stock Ex- a market known for tough regula- tors helping to prepare Chinese Houlihan Lokey $3.7 The Nasdaq has worked hard to change’s Alternative Investment tions and stringent oversight will companies to go public say the pace attract the Chinese in the past two Market tends to be regarded as a give them credibility with both of listings will most likely hold years (See Crain’s, April 3, 2006), commodities specialist.Capital also global and domestic consumers. steady for at least the next five years, with officials racking up plenty of flows relatively freely in New The recent recalls on Chinese even as global markets teeter. THE BROOKLYN HOSPITAL frequent-flier miles. The exchange York—the recent credit crunch products have reinforced that. “We don’t expect it to slow down CENTER has Chinese-speaking staff in notwithstanding. Chinese companies even use a at this point,” says Stefanie Starna, Shanghai and Beijing and is wait- Nasdaq listing as a marketing tool. a partner in Deloitte Touche’s Chi- ing for approval to open a Beijing Global market On a flight between Shanghai and na practice, which has handled six $12.5 office. As a result, it has more list- “chinese companies recognize Beijing two months ago, Mr. Of- U.S. listings in the past 12 months ings than either the New York that listing in this market is the pre- sink noticed a video ad for a hotel and has eight more on tap. Stroock & Stroock & Lavan $3.9 Stock Exchange (28) or the Amer- mier foundation for attracting not chain that ended with the tagline, ican Stock Exchange (10). just U.S. capital, but global capital,” “We are listed on Nasdaq.” COMMENTS? [email protected] J.H. Cohn $3.7 Otterbourg Steindler Houston & Rosen $2.3

Alvarez & Marsal $1.7 Hospitals, insurers lock horns Epiq Systems $0.2

search group.“We’re seeing a peri- bills have to be paid. This shifts behind closed doors, but several Both sides under od of intense animosity between them to the private sector.” participants who requested ano- financial pressure; the plans and the hospitals.” But insurance executives are nymity spoke about them. PARKWAY HOSPITAL The clash comes pushing back, say- Executives at two large and fi- bigger systems in as both sides are Hospitals ing they are facing nancially sound hospital systems stronger position feeling squeezed similarly intense say they were able to wrest 10% and $6.6 financially. Many are trying to pressure from higher increases in payments from hospitals, facing their customers to most of the commercial insurance DLA Piper $2.7 BY GALE SCOTT cuts in government extract larger hold the line on plans, but only after a fight. Medicaid and premium increas- Like most hospitals, they say, BDO Seidman $2.4 negotiations between hospitals Medicare funding, payments es.Those converg- their systems’ costs for salaries, and insurance companies over re- are trying to close ing trends are set- medical goods and drugs rose about J.H. Cohn $0.9 imbursement rates for patient care the gap by extract- ting the stage for 5% over the past year. With cuts have grown unusually acrimonious ing larger reim- more tough nego- from the government,their systems Thelen Reid Brown Raysman this year. bursements from tiations in coming need at least 10% more from the & Steiner $0.4 “New York’s a boiling pot,” says their patients’ in- months as more health plans—and larger hikes if Paul Keckley, executive director of surers.“We see it as contracts—usual- they are to invest in improvements John Maher Consulting $0.1 the Deloitte Center for Health So- a cost-shifting issue,” says a ly three-year pacts—come up for and new services. lutions in Washington, D.C., an spokesman for the Healthcare As- renewal. “We did OK. But double-digit Source: Bankruptcy court filings independent health policy re- sociation of New York State. “The The negotiations are going on See HOSPITALS on Page 8

August 20, 2007 | Crain’s New York Business | 3 CNYB 08-20-07 A 4 8/17/2007 7:12 PM Page 1

IN THE MARKETS HIGHLIGHTS REEL E*Trade hit by fears -0.8% The of mortgage meltdown Bloomberg/ Crain’s New

➡ York Index and a cash cushion against loan losses of E*Trade has long-term relationships, fell 0.8%, to Stable deposits, federal $30 million. notes Mr. O’Shaughnessy. Even if its end the guarantees make firm’s “Even if it tripled its loan-loss provi- banks ended their repurchase agreements, week at sions,that wouldn’t put E*Trade still has a $10 364. The shares look oversold a huge dent in its net billion credit with the S&P 500 income,” says Patrick Federal Home Loan Index fell O’Shaughnessy,an an- Bank Board. 0.5%, BY TOM FREDRICKSON alyst at Morningstar. Last week,E*Trade closing at Even though sought to reassure in- 1446. *trade has long made far E*Trade was likened vestors about the qual- more money from mortgages in a column in The ity of all its mortgages than it makes on the low-cost Wall Street Journal last via a 20-page break- stock trading business for week to a “mortgage down of its holdings. which it is known. In recent REIT disguised as an The biggest question RISERS Eweeks,that dependency has come back to online broker,” the mark in the mortgage 5-DAY 1-MONTH 3-MONTH CLOSING haunt the company with a vengeance, as company is really market these days con- % CHANGE % CHANGE % CHANGE PRICE investors have run screaming from any more akin to a large cerns mortgages with Arrow Electronic +9.4% +0.4% -4.7% $39.69 company with exposure to the suddenly savings bank stuffed high loan-to-value ra- toxic mortgage market. with piles of customer tios. E*Trade noted MBIA Inc. +8.7% +6.2% -8.4% $63.60 Last week, with even the nation’s deposits and relatively that all of its loans with Schering-Plough +8.4% -8.2% -9.9% $29.56 largest mortgage lender, Countrywide safe mortgages. But at least an 80% loan- Market cap $5.8 billion Aéropostale +7.9% -17.4% -25.8% $34.63 Financial, briefly on the ropes, the 15% unlike a bank, to-value ratio carry Bear Stearns +7.3% -15.5% -20.4% $118.20 five-day drop in E*Trade’s shares hardly E*Trade buys most of Projected 2008 P/E 7.2 mortgage insurance. came as a surprise. But bold investors them from others. It’s Total debt $22 billion The company’s $12.4 would be wise to peer through all the unlikely to have its billion in home equity SINKERS smoke and take note that after a 38% sell- funders run for the loans are less secure. 5-DAY 1-MONTH 3-MONTH CLOSING off in the last month, E*Trade represents hills. Nearly two- However, 74% of % CHANGE % CHANGE % CHANGE PRICE an appealingly solid bargain. thirds of them are really consumers hold- home equity borrowers have very high Sotheby’s -15.0% -27.2% -16.1% $37.74 Sure,vast swaths of the residential real ing checking and savings accounts. And credit scores. Take-Two Interactive -14.5% -40.6% -35.0% $12.25 estate market are a mess, but E*Trade has customers’ $27 billion in deposits are in- E*Trade is expected to earn $1.62 per a lot of room for error with its hugely sured by the FDIC. share this year, up 13% from 2006. Ana- NYMEX -10.2% -15.3% -4.7% $118.66 profitable method of gathering ac- The company’s next-largest funding lysts forecast revenues to rise 11%, to McGraw-Hill -9.1% -23.5% -29.9% $49.14 counts—and clients’ assets—online. In source is $13.5 billion in repurchase $2.7 billion. Cognizant Technolgy -9.0% -11.3% -2.4% $74.95 the second quarter,the Manhattan-based agreements—short-term funding instru- company had $414 million in net income ments—with a group of banks with which COMMENTS? [email protected]

STOCKS TO WATCH by Erik Ipsen Vornado fattens up on burgers and fries; This Summer, discover too bad about commercial real estate the benefits of hosting your next Mounting fears that the credit crisis will push interest rates and office business gathering with us vacancies up and rents down is taking a heavy toll on Vornado, owner of millions of square feet of New York office space. Shares of the nation’s second-largest real estate investment trust have fallen 25% in the past six months. On a happier note, the firm announced recently that it had netted more than $200 million on a big bet on McDonald’s shares. Foot Locker has developed a nasty limp. In May, the shoe seller announced a 70% drop in quarterly earnings. It is expected to top that this week, posting its first quarterly loss in years—15 cents a share—the result of price cuts to move merchandise in its 4,000 stores. True, the retailer recently said it was seeking 532 newly renovated guest rooms and suites, a private equity buyout, but these days, who cares? Even news last week of a 20,000 square feet of meeting space, and a 12-cent payout failed to pull the shares out of their three-month, 30% swoon. dedicated banquet staff When investors start stampeding for the exits, winners and losers alike get trampled savagely and indiscriminately. Phillips-Van Heusen is a classic case of such nonsense. The nation’s largest shirtmaker is expected to post its 14th consecutive double-digit profit gain this week. Last month, PVH announced that its debt 49 West 32nd Street, New York, NY 10001 had been upgraded to investment- Tel (212) 277-2647 www.radisson.com/martinique grade. Despite all that, the shares are down 8% in the past month. charts: lindström bekka

4 | Crain’s New York Business | August 20, 2007 Project1 8/6/07 12:14 PM Page 1

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Bank of America, N.A. Member FDIC. ©2007 Bank of America Corporation. CNYB 08-20-07 A 6 8/17/2007 5:13 PM Page 1

Green

Big A pple. NEW YORK,NEW YORK > edited by Valerie Block

Chinese artwork up for auction the chain’s new headquarters. Red Mango claims its product merica’s largest is the only frozen yogurt that collector of Chinese merits certification by the contemporary art, National Yogurt Association, A because it has more active cultures Howard Farber, is selling a in its brew. It launched its U.S. portion of his historic attack in Los Angeles and Las collection this fall.The Vegas last month. “Our goal is to do for yogurt group will contain the what Starbucks did for coffee and most important Chinese what Jamba Juice did for contemporary works ever smoothies,” says Chief Executive to come to market. Dan Kim. Forty-four works— known as China Avant- Breathe channels Garde: The Farber Collection—will be auctioned off at female listeners Phillips de Pury & Co. in London on Oct. 13. Included is with the digital age causing Wang Guangyi’s Coca-Cola, the most reproduced Chinese agita for traditional radio SL Green Realty Corp. contemporary painting. operators, Clear Channel Mr. Farber, a former New York real estate investor, started Communications is trying to give listeners what they want on their is pleased to announce buying Chinese contemporary art with his wife, Patricia, in iPods and HD radios.The the mid-1990s, long before the market got hot. Much of the company’s format lab has hatched the acquisition of collection is stored in a warehouse, because the couple can’t dozens of channels, including fit it all into their two homes. comedic Joke Joke and Nascar- driven Race Day. 333 West 34th Street This past June, Mr. Farber took a Zeng Fanzhi piece, One of its newest additions, bought for $12,000, to auction. Famed adman Charles Breathe, is geared toward women Saatchi nabbed it for $1.7 million. After that, Mr. Farber and features a talk show led by 212.594.2700 • slgreen.com WLTW personality Valerie decided to sell more of his stash. Smaldone, the voice of midday.The “In 1995, when I started buying these works, I had no idea prerecorded show, Blank Canvas, that this market would pop during my lifetime,” he says. can be heard on WKCI’s HD station in New Haven, Conn. and “There were a lot of advertisers includes interviews with notables Early score who wouldn’t do ‘live reads’ with like Suze Orman, Virginia Madsen, for Boomer Imus because he was a little Cyndi Lauper and Kenny Loggins. difficult to work with,” says Mark Neither Clear Channel nor Reaching new heights. no one knows if legions of New Lefkowitz, media director at Ms. Smaldone would comment York radio listeners will tune into Furman Roth Advertising. about Breathe, which is still in Boomer and “People have the perception beta.The channel’s launch may be Carton in the that Boomer will be much delayed because GreenStone Morning, the easier.” Media, which was contributing new radio show programming, has shut down. that will fill the GreenStone produced Radio old Don Imus slot Yogurt Ritas, Lisa Birnbach and other on WFAN, seller shows for women. starting Sept. 4. But advertisers are already betting breaks Contributors: Lisa Fickenscher, Matthew they will. NY ice Flamm, Miriam Kreinin Souccar SUMMIT ROCK From the moment last week that CBS Radio the frozen yogurt announced that ex-Bengals wars continue to WORKDAY WHIM? ADVISORS quarterback Boomer Esiason heat up the city as UNCORK BUBBLY and New Jersey radio one of the largest personality Craig Carton purveyors in the world EVER YEARNED for eggs Benedict would be settling in at the arrives here from abroad. on Monday? Paris Commune, a has leased sports station, advertisers Korea’s Red Mango, which West Village institution, started calling. has 140 stores in its launched a daily “[The show] has been homeland, will open three brunch menu with 8,300 sq. ft. very well- received,” says shops here by October, in a noontime event WFAN General Flushing, Queens, the theater last week Manager Chuck district and the Village.The featuring writer Bortnick. “We were company is seeking more and Village on the 12th floor getty images contacted by a locations through resident Jay number of brokerage firm Branded McInerney (right). getty images advertisers.” Concept Development. Asked whether busy New Yorkers Radio insiders The new entrant will fight for could slow down enough to say that advertisers will customers with Pinkberry, which enjoy champagne and omelets be happy to have consistency in arrived from Los Angeles last during the week, he said, “This is the morning drive-time slot after year, and smaller rival Yolato, the Village. Most people are just four months of fill-in hosts. Some which runs two Manhattan stores waking up about now.” also think Mr. Esiason will make a and has two more coming in good pitchman for their products. September. One of them will be Project2 7/24/07 11:09 AM Page 1

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Test Drive: BroadbandAccess plan required. Customer must pay all other charges, incl. taxes and surcharges. Early termination fee applies unless device is returned. *Our Surcharges (incl. Fed. Univ. Svc. of 11.3% of interstate and int’l telecom charges (varies quarterly), 4¢ Regulatory and 70¢ Administrative/line/mo., and others by area) are not taxes (details: 1-888-684-1888); gov’t taxes and our surcharges could add 6%–34% to your bill. Activation fee/line: $35 ($25 for $59.99 BroadbandAccess plan). IMPORTANT CONSUMER INFORMATION: Subject to Customer Agreement, Calling Plan, rebate form and credit approval. Up to $175 early termination fee. If more than 5GB/line/month, we presume use is for non-permitted uses and may limit throughput speed or terminate service; see brochure for prohibited and permitted usage. Speed claim based on our network tests with 5MB FTP data files without compression. Actual throughput speed varies. BroadbandAccess is available to more than 202 million people in 242 major metropolitan areas in the U.S. Rev A device req’d for Rev A speeds. Offers and coverage not available everywhere. Network details and coverage maps at vzw.com. © 2007 Verizon Wireless. CNYB 08-20-07 A 8 8/17/2007 6:11 PM Page 1

freeze. Meanwhile, executive re- cruiter Mitchell Feldman warns Wall Street’s rookies rocked by first crisis that as many as 20% of positions in once-hot areas like mortgage trad- Continued from Page 1 added here, according to the Secu- seeking out an even deeper fix for “I spend a lot of time coaching ing could be eliminated in the next they are seeking advice from indus- rities Industry and Financial Mar- their stress. [employees] on how to avoid losing six months. try veterans and keeping their heads kets Association. “In times like this, my conversa- behavior,” he says. “Some of my colleagues are down. They are trying to stay fo- Among those fresh recruits tions are about dealing with anxiety Worries about their own finan- wondering whether it is time for cused and not worry about their stands Stoyan Panayotov, an equity and getting defensive instead of set- cial futures make it even harder for them to start searching for a new bonuses—and jobs. derivatives analyst at Wachovia ting goals and maximizing capital,” the rookies to cope. Already, some job,” says David Cienfuegos, 27, “This is a big wake-up call for a Capital Markets in Manhattan.The says Ari Kiev, a psychologist at a are starting to ratchet down their who earned his M.B.A. from Pace lot of young people,” says Nicholas 28-year-old Bulgaria-born banker large hedge fund and author of spending plans. University in 2004 and is now head Colas, research director at securities says these days he’s paying “at least Trading to Win: The Psychology of Mr. Panayotov had planned to of investments at London-based firm BNY Jaywalk and a veteran of twice as much” attention to whatev- Mastering the Markets.“Less experi- fund much of the purchase of an hedge fund Frontier Capital Man- 20 years on Wall Street. er news crosses the Bloomberg ma- enced traders are more panicky apartment in Bulgaria using this agement. chine on his desk and the monitors about the market and yet more san- year’s bonus. Now, he’s reassessing BNP Paribas’ Mr. Aractingi has Horn of plenty tuned to CNBC that hang from the guine.They feel the pain,but unfor- those plans in light of his fear of a hit upon a different sort of solution until now, most of the Street’s ceiling in his midtown office. tunately,most don’t learn from their sharply reduced year-end check. to the anxieties caused by gyrating youngest employees have known When the news gets disturb- experiences like the older ones do.” markets and rumors of layoffs.After nothing but boundless prosperity. ing—like Thursday’s momentary At the offices of BNY Jaywalk, Summer freeze work, the Paris native sheds his Over the last four years,Wall Street 344-point drop in the Dow Jones Mr. Colas says that he tries to steer rumors of a sudden chill in the job business suit and puts on his boxing firms have coined nearly $100 bil- Industrial Average—he turns to his young traders around him away market are also making the rounds. shorts and gloves at Gleason’s Gym lion in pretax profits and have manager seated nearby. from the classic rookie mistake of Michael Collins,who completed his in Brooklyn. showered an unprecedented $76 “He doesn’t panic,” Mr. Panay- selling their best-performing M.B.A. this month at Fordham “You’ve got to have a release at billion in bonuses on their New otov says.“He’s a nice guy, but more stocks and holding on to their los- University, says a recruiter recently night,” he says. York employees alone. In the peri- than that he keeps his cool.” ers in the hopes that they will even- told him that the largest investment od, 25,000 financial jobs have been Other Wall Street rookies are tually recover. banks have instituted a hiring COMMENTS? [email protected]

ing and shopping centers collective- says Amalgamated Chief Executive ly worth $150 million. Derrick Cephas. Real estate lending evaporates One of those deals required a Wall Street is altering terms on $500,000 deposit,which is now lost. the few loans it is completing. Continued from Page 1 lectively worth $9.5 that will stick,” says The buyer thought he had locked in Lenders cite contract provisions that just changed.” billion remain un- James Murphy,exec- an interest-only mortgage at 6%,but allow such revisions in response to The credit crunch results from funded, according to utive managing di- his lender changed the terms, mak- “material adverse changes”—name- the meltdown in subprime residen- Real Capital Analyt- rector, New York ing the loan 7% and requiring ly,the freeze-up in the debt markets. tial loans, which has quashed in- ics. They include metropolitan region, monthly principal payments. The The result is that interest rates on vestor interest in any type of real es- $1.29 billion to ac- at real estate broker- monthly cash outlay for the latter commercial mortgages in the tate securities. Wall Street banks quire the Park Av- age GVA Williams. loan would have been 37% higher pipeline are now a full percentage issue most large loans, which they enue Atrium office than that for the former,the investor point higher than 10-year Treasury package into securities and sell to tower; $1.2 billion Deposits at risk says. “I would have ended up mak- notes. Lenders are also demanding investors. In recent weeks, growing for the Manhattan several sources ing no money.” equity contributions of 30% or more, concern about bad real estate loans House apartment say they know of cas- About the only transactions compared with only 10% or 15% be- has brought that activity to a virtual complex; and about es in which investors moving ahead are smaller ones fi- fore the credit crunch. standstill. $53 million to buy an are losing deposits nanced by savings banks and insur- With so much uncertainty, some With the residential real estate industrial property because they can’t ers; those lenders will not sell mort- sellers are lowering prices to help market looking increasingly over- at 511 W. 21st St., find financing. The gages in the secondary market but make deals happen. Mr. Murphy at

built, interest has been particularly demolish it and put buck ennis chief hurdle most of hold them in their own portfolios. GVA Williams says prices for office weak in financing new condomini- up a hotel. These CONDO under construction. them failed to clear In the past two weeks, New York buildings under contract for $100 um developments anywhere except transactions may still was the additional Life has begun processing $200 mil- million are being slashed by up to 6%. in prime Manhattan locations. be done, however. equity that lenders lion of commercial real estate loans “Prices are down 5% to 10% on In the past month, such Wall are requiring. Buyers could lose nationally.Manhattan-based Amal- all purchases,” says Ira Zlotowitz, Deals on hold Street firms as Goldman Sachs, many millions of dollars in the next gamated Bank, which caps its mort- president of Eastern Union Fund- “condo developments in fringe Lehman Brothers and Bear Stearns, several weeks as the 30- and 60-day gages at about $25 million, is hiring ing, a Brooklyn-based commercial locations are soft,” says Dan Fasulo, as well as money-center banks like closing deadlines—typical in New commercial lenders and aims to in- mortgage brokerage.“No one thinks managing director at Real Capital Citigroup and J.P. Morgan Chase, York—arrive. crease its commercial loan portfolio prices are going to go up.” Analytics. have drastically reduced the number One Brooklyn investor who bor- to $1 billion from $600 million. With the securitization pipeline of deals they are willing to finance. rows on Wall Street says that in re- “We view the current disruption COMMENTS? [email protected] or for all sorts of projects closed, 37 “We are finding it almost impos- cent weeks he has walked away from in the marketplace as a short- and [email protected]. commercial deals in Manhattan col- sible to get a real quote or anything acquiring about eight office build- intermediate-term opportunity,” Additional reporting by Theresa Agovino. Hospitals, insurers lock horns over rates

Continued from Page 3 kept 2007 contract increases to be- compared with an average of 10% in Blue Shield, have set up experimen- increases from the plans appear to be tween 5% and 10%.But he adds that recent years. She adds that the cost tal pay-for-performance programs. a thing of the past,”says the chief ex- time may be running out for some savings from the sweeping consoli- The plans offer bonuses to hospitals ecutive at one Manhattan system. small facilities, as insurers become dation in the insurance industry are that meet specific patient care goals, He says his system’s negotiations less willing to support them. beginning to wane. The number of such as computerizing order-entry with one major insurer took more carriers operating in New York has systems and giving patients appro- than a year.“The sessions were end- Questionable operations dwindled to a handful of major priate drugs in a timely fashion. less, and we still didn’t get all we “we’re propping up about five companies, from more than 100 needed.” small, financially troubled hospitals plans in just the past decade. Cost is too high Smaller hospitals that are already in the downstate region,” he says. The plans will try to recoup what hospitals and doctors tend to be facing cuts in Medicare and Medic- “But at some point you have to ques- they couldn’t get in premiums by wary, saying the investment it takes aid, declining admissions and other tion whether they should continue forcing hospitals to accept lower in- to meet the plans’requirements may financial issues will probably have to operate [independently].” creases, says Liz Sweeney, an S&P cost more than the hospitals could an even tougher time wresting big The health insurance industry is nonprofit hospitals specialist. get in bonuses. “It doesn’t cut costs increases. Some of those hospitals facing its own pressures as well. While the two sides seem to be in the short term, and it also works lindström bekka may go under, observers say. S&P recently downgraded the far apart on the issue of reimburse- better among the well-heeled,” says problems. “We’re expecting to see more managed care industry’s outlook to ment, more battles loom as insurers Daniel Sisto, president of the state “It helps control costs and pro- failures there,” as insurers balk at “stable” from “positive” because “the push for programs that could give health care association. vides better care,” he says. “We are keeping them afloat, says Shellie sector isn’t as strong as it used to be,” them more control over how hospi- But Aetna executive Mike Hud- learning lessons on what works be- Stoddard,a health insurance analyst says Ms. Stoddard. She notes that tals deliver care. son, who is in charge of the section cause we feel we have to be part of at Standard & Poor’s. many insurers recently limited the In New York City, both Aetna that contracts with providers, sees the solution.” The president of one major rate of premium increases for large Inc. and WellPoint Inc., the parent the concept as a good start in solv- health plan says his company has employers to about 7% this year, company of Empire Blue Cross ing the nation’s health care delivery COMMENTS? [email protected]

8 | Crain’s New York Business | August 20, 2007 CNYB 08-20-07 A 9 8/17/2007 2:02 PM Page 1

THEIR OWN SPECIAL INTERESTS NY Dems get big helping of pork Selected earmarks in House appropriations bills.

Continued from Page 1 Many critics blast congressional upstate New York—were actually we’re called cardinals,”says Mr.Ser- earmarks, which totaled $32 billion requested by the Bush administra- getty images bloomberg news rano, whose panel controls funding in fiscal 2006, as bad public policy.In tion and simply authorized by her bloomberg news for a variety of agencies and com- response, House Democratic leaders committee.But Taxpayers for Com- missions, from the Internal Rev- are moving to reduce the chamber’s mon Sense has found that 48 of 309 enue Service to the account that earmarks by half but will maintain disclosed Senate earmarks in that $15 million $2 million $2 million $1.75 million pays for White House parties. “I the practice of awarding 60% of ear- bill were requested by either Ms. Intrepid Charles B. New School Reconstruction could cut Cheney’s cigars out if I mark funds to majority-party mem- Clinton or Sen. Charles Schumer. Foundation Rangel Center University of Route 6 wanted to,” he says. bers.Democrats may end up with less Rep. Carolyn for Public Green Building Rep. John Hall, The vice president’s stogies are money than in the past, but they will Senate: next battleground Maloney, Service Rep. Jerrold D-Beacon not in jeopardy,but the point is clear: get 50% more than Republicans. new york has not fared as well in D-Manhattan Rep. Charles Nadler, Democrats now control the dollars. That bodes well for the city,as 12 the Senate as it has in the House, Rangel, D-Manhattan (New York’s final tally won’t be of its 13 representatives are Demo- however. An analysis of data com- D-Manhattan known until the fall, and exact com- crats.Lone Republican Vito Fossel- piled by the taxpayers group shows parisons to previous years are impos- la of Staten Island did not even re- that the state is poised to get only 3% sible because sources of earmarks quest earmarks. (He cites unclear of the $27.2 billion in earmarks in were secret.) ethics rules—not the 67% cut.) the first seven Senate appropria- Mr. Serrano and another “cardi- Most of the action so far has been tions bills. But the low figure is not nal,”Nita Lowey of Westchester,also in the House.But it will move to the unexpected. New York typically re- lend a hand to other state Democrats. Senate next month, and New York’s ceives little in most of those bills— “We can go to the decision mak- two senators are looking for spoils. such as the one that funds interior $1.3 million $1 million $990,000 $231,000 ers,and they want to help us,not hurt When the bill establishing the de- and environmental projects—be- Onondaga Town of Bethel Cormorant Phoenix House’s us,”says Amy Rutkin,chief of staff for fense-spending framework came cause it lacks swaths of federal land, County sewer extension control drug-free Rep. Jerrold Nadler, D-Manhattan. through the Armed Services Com- massive federal dams and the like. communications Rep. Maurice Rep. Jim Walsh, workplace mittee, on which Sen. Hillary Clin- A much greater bonanza for New project Hinchey, R-Syracuse initiatives Democratic power center ton sits,she stuffed it with $462 mil- York could be several years away, Rep. Jim Walsh, D-Kingston Rep. Anthony from 2000 to 2005,New York lion in New York projects,according when the next omnibus transporta- R-Syracuse Weiner, ranked between 43rd and 46th in to her own press releases. tion bill is written. The state, which D-Queens federal pork per capita, according to “She was one of the top earmark- has five Democrats on the House Source: Taxpayers for Common Sense nonpartisan group Citizens Against ers in the defense authorization Transportation and Infrastructure Government Waste. But when bill,” says Steve Ellis, vice president Committee, including Mr. Nadler, Congress changed hands at the start of Taxpayers for Common Sense, a will be positioned to snare large sums eral programs such as Medicaid. goes through his subcommittee. “I of 2007, the landscape was trans- budget watchdog group. to build rail tunnels and bridges. In the meantime, they’re enjoy- get the feeling I’ll be ringing the bell formed for the state’s 23-Democrat Some of the budget items trum- Even bigger amounts could flow to ing appropriations season. Mr. Ser- at the NYSE a few times,” he says. delegation in the House—the sec- peted by Ms. Clinton—such as New York if its members succeed in rano notes that funding for the Se- ond-largest, behind California’s. $347.9 million for Fort Drum in far changing formulas for funding fed- curities and Exchange Commission COMMENTS? [email protected]

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August 20, 2007 | Crain’s New York Business | 9 CNYB 08-20-07 A 10 8/17/2007 1:59 PM Page 1

But it doesn’t bode well for the publisher that Ms. Moore’s tenure Digitally challenged Time Inc. past its prime? has been marked by an up-and- down quarterly performance, in Continued from Page 2 line this year at the from analysts contrast to that of her predecessor, hamstrung by parent company Sports Illustrated and investors. Don Logan. Under Mr. Logan, the Time Warner’s decision to give brand.Traffic across all Some of them say company posted 41 consecutive AOL control of Time Inc.’s Web of the publisher’s U.S. it is neither a quarters of profit growth. sites, a relationship that has been Web sites now averages strategic fit within unwinding for the past two years. 20 million unique visi- Time Warner nor The roaring ’90s Either way, the publisher is still tors a month. a growth business, mr. logan had the advantages of a paying the price. “That’s more than and should be sold booming ad market, big-ticket ac- “Time Inc. has yet to find a cen- our five nearest com- off. quisitions—and Ms. Moore. As tral digital strategy for itself,” says petitors in magazine Speculation president of People from 1993 to Alan Schanzer,managing partner of publishing combined,” a about Time Inc.’s 2001, she consolidated the title’s digital media planning firm MEC: spokeswoman writes in future has been fu- hold on popular culture and created interaction. an e-mail. eled lately by talk of juggernaut franchises Real Simple He says that People.com missed succession plans at and InStyle. the chance to own the entertain- An upswing Time Warner. Ana- Critics say that her accomplish- ment news category. It ranks sec- time inc. executives also lysts consider heir ments on the digital side have been ond in unique visitors after gossip argue that the most recent apparent Chief Op- too little, too late. “Management is upstart TMZ. He adds that quarter shows a turnaround.Though Time.com faces erating Officer Jeffrey Bewkes simply not getting the job done fast Time.com faces competition from revenue was flat at $1.3 billion, op- more open to spinning off divisions enough,” insists Pali Research me- myriad other news and informa- erating income before depreciation competition than Chief Executive Richard Par- dia analyst Richard Greenfield in an tion sites. And CNNMoney.com and amortization grew 12% to $302 sons, whose contract expires next e-mail. combines four different business million—the first quarter of double- from myriad May. That assessment has sparked In the rapidly changing media magazine brands—Fortune, Mon- digit growth since 2005—with help rumblings about Ms. Moore, landscape, the mighty Time Inc. ey, Fortune Small Business and Busi- from lower restructuring charges. other news and whose contract runs through 2009. may have to get used to looming ness 2.0—which, he argues, have Digital ad revenue, for the second She has been unequivocal about less large. little to do with each other. quarter in a row,has more than made information sites staying to its end and has talked “Are they at the point where Ms. Moore declined to be inter- up for the decline in print ad rev- about planning for a successor. they’re a must-buy?” asks David viewed, but a Time Inc. spokes- enue. “We’re growing again,” says a Insiders believe that Mr. Smith, chief executive of media- woman responds that Time.com is spokeswoman. Bewkes will need to deal with buying firm Mediasmith Inc., growing rapidly, that People.com Some observers are impressed problems at AOL before he gets to which places clients’ ads with owns its category in terms of viewer with Time Inc.’s progress. “Time Time Inc.,Time Warner’s smallest Time.com and CNNMoney.com. engagement,and that CNNMoney. Inc. has been as aggressive as any banking firm DeSilva & Phillips. division. “No. But they’re folks we’ve got to com’s related brands amass a huge company—or more aggressive—at Others maintain that the publish- A Time Warner spokesman give serious consideration to, and, audience. That site’s net revenue is stabilizing print brands and diversi- er hasn’t been aggressive enough. voices support for the division. for them, that’s huge progress.” up 68% this year. SI.com is another fying in digital,” says Reed Phillips, Unlike most of its privately held “Time Inc. is making good prog- success, adding 18% to the bottom a managing partner at investment competitors,Time Inc.faces pressure ress,” he says. COMMENTS? [email protected]

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10 | Crain’s New York Business | August 20, 2007 Project15 8/14/07 4:04 PM Page 1

The personal computer changed business, then before you buy to lifecycle support after. Softmart aims these benefits business changed the personal computer. squarely at your bottom line, because respecting your business means Demand created generic boxes of speeds and feeds and, respecting your budget. Of course, the right people offer the right over time, buying a computer became surprisingly similar products—and Softmart delivers a huge range of reliable computing to ordering a pizza over the phone. “Direct,” yes— solutions from HP. Such technology is the nerve center but what if you needed more than a box? through which your company’s past, present and It turns out that technology challenges aren’t future move, day in and day out. managed by technology, but by nimble-minded, It all adds up to an approach that’s both thoughtful people. Like the people at Softmart. more personal and more powerful, one that They’re local. Real, live IT experts, accountable combines the exceptional resources and in person, where you need them. technology of HP with the local support and Since they’re here in the New York area, your business savvy of your Softmart team. It’s an Softmart team is more familiar with local issues and alliance that respects how much of your business, your line of work, all the better to customize solutions and therefore your life, exists on that fit your company, not just your industry. They’re your personal computers. See a force multiplier, giving you access to a powerful network of resources for yourself by getting in touch and exclusive partnerships. And they’ll also help you choose services and with the people at Softmart, who are happy to support at any and every step, providing everything from strategic advice hear about your business, face to face.

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VIEWPOINT Preparing for market fallout editor in chief Rance Crain publisher Jill R. Kaplan ith all due respect to guru markets several times in the past two decades without such EDITORIAL Jim Cramer, no one knows dire consequences. As the cliché goes, the stock market has editor Greg David managing editor Richard Barbieri whether the financial crisis will predicted 10 of the past three recessions. Bonuses will be deputy managing editors Valerie Block, end the long-running prosperity substantial—even if not as high as those for 2006—because Erik Ipsen assistant managing editors on Wall Street. History tells us, securities firms made so much money in the first half. Carmen Fleetwood, Robert Hordt however, that the turmoil poses Employers are adding jobs in many industries, with columnist Alair Townsend senior reporters Aaron Elstein, great risks for the New York especially big gains in retailing, construction and Lisa Fickenscher, Matthew Flamm, entertainment—as well as Wall Street. Tom Fredrickson, Samantha Marshall, economy and that both Mayor Michael Bloomberg and Anne Michaud, Miriam Kreinin Souccar Gov. Eliot Spitzer should move now to prepare for trouble. New York can’t afford to wait to determine which side is reporters Theresa Agovino, Barbara Benson, W Elisabeth Butler Cordova, Erik Engquist, The 20th anniversary of the October 1987 market crash is right. A decline in the real estate market will quickly pinch Amanda Fung, Hilary Potkewitz, Gale Scott around the corner. After the initial shock of that event, the revenues from transaction taxes, amounting to some $2 billion restaurant critic Bob Lape art director Steven Krupinski conventional wisdom was that the city would be able to for the city in recent deputy art directors Carolyn McClain, weather the storm.True, Wall Street quickly began layoffs years. Income tax Daniel Mednick The 20th staff photographer Buck Ennis but paid bonuses for that year. Overall employment rose that revenues will plunge if copy desk chief Wendy Zuckerman year and held its own over most of the next two years. anniversary of Wall Street tanks. copy editors Michele Arboit, Thaddeus Rutkowski Because many local economic indicators are little more the 1987 crash The impact would be research editor Denise Southwood associate research editor than educated guesses, few observers understood that an seen first at the state Adrianne Pasquarelli enormous increase in government hiring was holding up the is 2 months away level, where a budget www.NewYorkBusiness.com online editor Catherine Tymkiw job numbers. Private sector retrenchment was actually that increased spending online reporter Kira Bindrim accelerating, a fact that wasn’t evident until much later. by 9% is precariously EDITORIAL AND ADVERTISING OFFICES When tax revenues began to shrink, unprepared city and balanced. Mr. Spitzer 711 Third Ave., New York, NY 10017-5806 editorial: 212.210.0277 Fax 212.210.0799 state officials faced yawning budget deficits.They had no should move quickly to advertising: 212.210.0259 choice but to institute their own cutbacks. In October 1989, impose a hiring freeze, delay the pork-barrel spending Cable craincom nyk Fax 212.210.0499 the city began a free fall in which it lost 329,000 jobs. approved last year and identify other possible cuts. Entire contents ©copyright 2007 Crain Communications Inc. All rights reserved. The pessimists, led by Mr. Cramer, see a perfect storm. Mr. Bloomberg’s more cautious fiscal approach gives him ®CityBusiness is a registered trademark of MCP The mortgage debacle will be followed by defaults on many more room to maneuver.The recently adopted budget has Inc., used under license agreement. other kinds of debt. Layoffs on Wall Street will begin in $4 billion set aside, which could be used to fill a gap. But any TO SUBSCRIBE: Call 888.909.9111; fax 313.446.6777. earnest within months, bonuses will be eliminated to pay significant recession would result in much larger revenue $3.00 a copy, $59.79 one year, $109.79 two years. severance and consumers will stop spending because their declines, and taking similar steps would allow the mayor to www.NewYorkBusiness.com fulfill his pledge not to leave his successor with the kind of ADVERTISING AND MARKETING homes are suddenly worth much less than they thought. advertising director Jeff A. Adler The optimists note that similar fears have gripped the fiscal mess he inherited. business development manager Robert N. Grossman senior account manager William E. Squitieri account executives Andrew Carlin, Lisa Pearly, Jennifer Siniscalchi, LETTERS TO THE EDITOR Brigitte Stieglitz western account manager Ellen Mazen (Los Angeles) 323.370.2477 sales manager, classified print & online John Gallagher newsletter product manager Comptroller clear on transit funds Catherine Evans Gittens sales coordinator, print & online Lulé Haznedari THOMPSON WANTS critical infrastructure william c. thompson jr. jody giordano sales coordinator Anita Perrino TO GET FUNDING RIGHT maintenance, as well as for Comptroller credit Pat Grondziak 313.446.6082 such expansion projects as New York City ARCHITECTURE marketing director Amy Crossman the august 13 editorial, the 2nd Avenue subway marketing manager Jill H. Bottomley NOT FIT FOR DOGS marketing coordinator Jenny Mashberg “Real infrastructure and a third bus depot in NO DESSERT FOR circulation manager Andrea Richardson solutions,” missed the mark Staten Island. crain’s aug. 6 article “There GARGIULO’S FAN general manager, interactive on several points with In February, my office goes the neighborhood,” about the Marc Minardo respect to my position on issued a report on the i am very disappointed in Bob Upper West Side, should have technical producer Danny Porter funding for mass transit. status of NYC Transit’s Lape’s two-star review of one of included that we like to walk our THE COMPTROLLER NEW YORK PRODUCTION First, I have no objec- spending on State of Good Brooklyn’s finest restaurants, dogs and actually converse with production and pre-press director tion to a rational policy for Repair capital needs. We Gargiulo’s ( June 25). Although the other owners about pet Michael Corsi increasing MTA fares and tolls highlighted how present rates of Mr. Lape praised the menu, training. It’s quite the social thing. advertising production manager when such increases are truly spending will not bring critical service and quality, his rating fell The piece mirrors my Marilyn DeMilta needed.The point of the report components of the subway and bus short of my numerous experiences. perception of this area, which I’ve PUBLISHED BY CRAIN COMMUNICATIONS INC. that my office issued [recently] system into good repair for Gargiulo’s 100-year history of lived in since 1988. I, too, look out chairman Keith E. Crain was to call attention to New York another 10 to 20 years, yet the serving the community at such a my windows and can only see the president Rance Crain City’s and New York state’s prac- MTA and the state Legislature high level should have been rated horrible architecture of the Extell secretary Merrilee Crain treasurer Mary Kay Crain tice of reducing, eliminating or have allocated a smaller percentage more respectfully, regardless of the buildings. Shame on the architects executive vp, operations William Morrow capping funding programs for the of capital repair funds to NYC desserts and wine list. for designing such eyesores! senior vp, group publisher Gloria Scoby MTA,which has cost the agency Transit in recent years than were Bravo, Gargiulo’s! steve smith group vp, technology, circulation, as much as $645 million annually. allocated in the 1980s. manufacturing Robert C. Adams The practices hurt NYC Transit as That’s why I have endorsed the vice president/production & manufacturing David Kamis well as Metro-North, the Long idea of congestion-pricing fees chief information officer Paul Dalpiaz Island Rail Road and the down- with some modifications to WHAT’S COMING UP IN CRAIN’S? corporate circulation director Patrick Sheposh state suburban bus systems. Crain’s distribute the burden more fairly Health Real Small should champion this equity issue between city and suburban drivers. founder G.D. Crain Jr. (1885-1973) for downstate New York. As the Mayor has proposed, this care estate business chairman Mrs. G.D. Crain Jr. (1911-1996) Second, I certainly recognize money should be segregated and report report report the need to provide adequate used for transportation capital Aug. 27 Sept. 3 Sept. 10 capital funding to NYC Transit for needs.

12 | Crain’s New York Business | August 20, 2007 CNYB 08-20-07 A 13 8/16/2007 7:30 PM Page 1

FullFull Floor Floor Identity Identity PlazaPlaza District District Location Location ey to New York to buy the goods 110110 East East 55th 55th Street Street made in the city. The balance-of- trade surplus is what made the city rich. Today, Wall Street is the major collector of other people’s money. Corporate bigwigs and average workers from all over the globe pay securities firms to invest their funds, arrange mergers and finance their factories and homes. The value placed on the intellectual capital on Wall Street is so high that it has made the industry the most prof- itable in the world. By contrast, sectors like retailing or health care are sustained by local residents, which means they recycle the money already in the economy. There’s nothing wrong with this, but it just doesn’t make the city as prosperous. Like Wall Street, universities are built on using other people’s money. Parents from around the country pay to send their children to Colum- john h.john howard bia and NYU. Colleges like St. John’s or Fordham, which attract students closer to home, draw mon- ey from the region, not just the city. Textbook answer These schools also bring in huge Three terrific full floor opportunities are currently sums in philanthropy and research available at 110 East 55th Street: the 2nd floor (4,479 RSF), dollars. the 14th floor (3,199 RSF), and the 19th floor (3,115 RSF) to good jobs for NY Meanwhile, in a twist of fate, which features an above standard built-out installation manufacturing has become another and spectacular Midtown views. industry supported by New York f recent trends continue, New York City will pass a residents.Because the city is such an For leasing information or to arrange a space tour, contact: milestone next year. The number of people employed at expensive place to operate, the only ERIC LEVY | 212-763-3585 | [email protected] universities,colleges and professional schools will exceed products made here are those that AJ CAMHI | 646-708-9405 | [email protected] require interaction with the buyer, BRAD SIDEROW | 212-763-3530 | [email protected] those in manufacturing. Since 1990, the number of such as custom furniture. higher-education workers will have increased by about So opponents of Columbia’s I30,000 to about 90,000, while factory payrolls will have fallen plan, some who seek to create a from 265,000 to a little over 85,000. manufacturing oasis on the site and others who seek to preserve what ex- No fact is more cen- whether the school is ists in the community, are wrong on tral to the decision that prepared to cushion the two counts. The Columbia jobs are will be made in the next impact with a commu- simply better for New York. Even if few months on whether nity benefits agree- they weren’t, it makes more sense to to allow Columbia Uni- ment. What is beyond support a growing sector than de- versity to build a new dispute is the impact clining industries.All efforts to save PHOTO GALLERY campus in West Harlem the project will have on factory jobs in the city have failed LISTINGS OF LOCAL EVENTS that will double its the city. To understand miserably, with the city losing an- space. It is nothing less its importance, an eco- other 6,000 manufacturing jobs in than a decision to em- nomics lesson is use- the first six months of this year. brace the future or the ful—especially the con- The city can reject Columbia’s VIDEO past. GREG cept that not all plan, which will sharply limit its Of course, there are DAVID industries are equal. ability to grow. Or it can approve it, 40 UNDER 40 PROFILES AND PHOTOS many legitimate con- Historically, New and make sure other universities can ONLINE ONLY FEATURES cerns about Columbia’s York became rich from expand as well, which will boost the TOP LISTS FOR BUSINESS LEADS proposal, including whether the de- manufacturing. Consumers from economy and maybe, just maybe, velopment is too dense, how it inte- elsewhere in the country,indeed the fuel an industry that will be growing NY BUSINESS DIRECTORY grates with the neighborhood and world, sent their hard-earned mon- when Wall Street falters. LATE BREAKING CRAIN’S ONLINE POLL LOCAL NEWS WILL YOU LISTEN TO BOOMER ESIASON ON WFAN, OR TO DON RESTAURANT REVIEWS IMUS, IF HE RETURNS TO THE AIRWAVES? LINKS TO MEMBERSHIP ORGANIZATIONS Neither. I INTERACTIVE ONLINE POLLS A MAJORITY OF THE 777 respondents say gave up on 5%. radio and SEARCHABLE ARCHIVES they would tune into Imus. Only 13% say Neither. I listen use my INSIDER AND PULSE NEWSLETTERS they would be inclined to turn the dial to to news or music iPod COMPREHENSIVE INDUSTRY PAGES in the morning .28% WFAN, where Boomer Esiason has been Imus. He designated as the permanent replacement 54%. has been Esiason. I am my choice for Imus’ spot. A third of respondents say happy WFAN has 13% for a long returned to sports . time, and THERE’S SOMETHING FOR that they have established other listening programming in I will follow EVERYONE AT habits in the morning. the morning him

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

August 20, 2007 | Crain’s New York Business | 13 CNYB 08-20-07 A 14 8/17/2007 11:57 AM Page 1

communications director for Mayor Michael Bloomberg and a senior staff member for Govs. DIGGING IN No walk in the park THE INSIDER Hugh Carey and Mario Cuomo; DIANA TAYLOR—the former state superintendent of banking known more for Joseph Strasburg, president of the being Mayor Michael Bloomberg’s significant other—finds herself with her by Erik Engquist and Anne Michaud Rent Stabilization Association and hands full as she takes over as chairwoman of the Hudson River Park Trust. a housing agency chairman during Ms. Taylor, whose appointment was the Pataki administration; and announced earlier this month, must stretch Frederick Jacobs, former counsel to $360.2 million in funding commitments to Assembly Speaker Sheldon Silver. complete an estimated $550 million in Dems rallying to governor’s side construction for a five-mile park. After nine years of planning and work, the park is just 40% ov. eliot spitzer (right) has Spitzer gets busy complete. come in for his share of with business bills She must also wade into the growing criticism from fellow controversy over how to develop Pier 40, which G gov.eliot spitzer has signed a is expected to provide $19 million each year, or number of business-friendly bills in Democrats amid investigations of 40% of the park’s operating costs. The Related the past two weeks and vetoed whether his aides used the state Companies has proposed a $626 million others that the Business Council of Diana Taylor police to smear Republican New York State sought to derail.The complex that would serve as a permanent home State Senate Majority governor: for the Tribeca Film Festival and Cirque du Soleil, but it is strongly Joseph Bruno G Vetoed a bill that would have opposed by neighbors. Nonprofit group Urban Dove would spend $145 Leader . But million to build park space, sports fields and a high school but would there are signs that some allowed plaintiffs in liability suits to determine the extent of the appear to provide less revenue for the park. Democrats are moving to his defendant’s insurance coverage Ms. Taylor, who has been on the board of the trust since 1998, at first side. before trial. Foes said it would lead refused Gov. Eliot Spitzer’s request that she chair it. She was leaving her Rep. Carolyn Maloney last lawyers to ask for bigger judgments. government job as banking superintendent in February to lead boutique G Extended the industrial investment bank Wolfensohn & Co. But the governor wouldn’t take no for an week said it was inappropriate development agencies’ financing answer.

for the state Senate to launch an buck ennis authority for six months as the “It was very flattering,” Ms. Taylor says. “It’s such a great park, and I really investigation and that probes should be left to independent Legislature considers reform.The want to see the project come to a positive conclusion. Parks add a lot to the bodies.The state Democratic Party hired a public relations law would have expired, city’s livability.” endangering $1.37 billion in She says she prefers to study the details before talking about how she firm, BerlinRosen Public Affairs, to distribute positive projects, says the New York State intends to proceed in her new role or about Pier 40. columns and editorials from around the state. Assemblyman Economic Development Council, bloomberg news David Valesky, D-Syracuse, said people in his district don’t care including $190 million for a Yankee about the political fighting and want lawmakers to move on. Stadium parking garage. HealthyNY, which is vital to small offers them the chance to become G Approved a bill that streamlines business owners. homeowners. risk allocation for unexplained Nevertheless, many are pushing presidents before joining the warehouse losses. Mr. Spitzer to find a seasoned Clinton White House. G Vetoed a bill that would have Administration Victoria Theater political adviser to help him There is even a list of candidates divested HealthyNY reinsurance touts housing gains plan losing steam navigate Albany.They point to including Kenneth Shapiro, funds to union benefit plans. President Bill Clinton’s hiring of managing partner of Wilson Elser BCNYS President Ken Adams says mayor Michael Bloomberg’s an effort to redevelop Harlem’s David Gergen, who was a journalist Moskowitz & Dicker; William the measure would have affordable housing plan exceeded historic Victoria Theater, a and confidant of three Republican Cunningham, former undermined the viability of its 2006 goal for providing homes vaudeville palace in its heyday, is for low-income people, according stalled because of foot-dragging by to a report by the city Department of the Spitzer administration, says Housing Preservation and Development. Assemblyman Keith Wright, Of the more than 13,000 units D-Harlem. built or preserved in 2006, 75% The administration waited six went to low-income households: months before calling the first families of four making less than meeting of the Harlem Community $56,700.The mayor had set a goal Development Corp. and still has not downtown brooklyn. of 68%. named a chairman, Mr. Wright A spokesman for the says. Developers who are finalists design, build, operate. department concedes that future for the project are growing anxious, units are more likely to serve he adds.They are Paul Williams, middle-income families, because former president of the most units to date have been organization 100 Black Men; and preserved rather than new Steven Williams (no relation) of construction, and the older Danforth Development Partners. buildings are cheaper. Additionally, the plan now faces competition from the W hotel going up at 233 W. 125th St.The City prepares vision for the Victoria includes a SEEKING PROPOSALS FOR ... residents for exit hotel as well as condominiums and an entertainment complex. New York City Economic Development Corporation is seeking proposals for columbia university and the city The Empire State Development the development and operation of the Willoughby Square Underground Department of Housing Corp., parent of the HCDC, says the Parking Garage located in Downtown Brooklyn and the construction of the Preservation and Development are Victoria Theater delays go back to working together to move tenants the previous administration. “We’ve street-level public space on top. out of the West Harlem area where taken steps to pick up the pace, and the school wants to build a satellite now the project is on track,” says an campus.The action comes five ESDC spokesman. I RESPONSES ARE DUE NO LATER THAN 4:00 p.m. on Friday, October 12, 2007. months before a City Council vote Submission guidelines and requirements are outlined in the RFPand available to on Columbia’s application for a download at www .nycedc.com/rfp , or pick up at NYCEDC, 110 W illiam Street, needed zoning change. The department met recently 6th +oor, New York, NY, Monday - Friday, 9:30 a.m. - 4:30 p.m. with tenants of two of its buildings, 602 W. 132nd St. and 3289 Broadway, to offer a relocation package that insiders say would move tenants 15 blocks north. Columbia and HPD say they are committed to offering displaced tenants residences that are equal to

REQUEST FOR PROPOSALS or better than their current ones getty images and to maintaining a program that THE VICTORIA was a vaudeville mecca.

14 | Crain’s New York Business | August 20, 2007 Project4 7/6/07 3:56 PM Page 1

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WEEK IN REVIEW

bookstores on Oct. 3.The book is ECONOMIC SPOTLIGHT a supposedly hypothetical account of how Mr. Simpson might have killed ex-wife Nicole Brown Simpson and her friend Ronald Goldman.The book was originally slated for publication by News Corp.’s HarperCollins, which canceled it after a controversy erupted. Ziff evaluates debt ziff davis media inc. said it would not make an interest payment and would seek ways of restructuring $390 million in long-term debt.The company is delaying its quarterly report to continue reviewing how it ap images landov accounted for the July sale of its WFAN names Imus replacements Enterprise Group. WFAN TAPPED FORMER NFL QUARTERBACK and CBS Sports Claiborne pairs commentator BOOMER ESIASON (above left) and Craig with Best Buy Carton, co-host of the Jersey Guys program on WKXW, in Trenton, N.J., to take the morning slot vacated when DON liz claiborne inc. signed a deal to design and sell its electronics- IMUS (above right) was fired in April. The show will debut on related accessories in 250 Best Buy Economy Watch Sept. 4. Meanwhile, Mr. Imus, whom WFAN ousted for stores. Priced between $25 and making racist remarks, settled his lawsuit against station $200, the line of laptop bags, The New York City unemployment rate jumped in July as a large number of protective sleeves and totes will go people began looking for work. owner CBS Radio in a deal said to be worth $20 million. He on sale in stores and on Best Buy’s JUNE ’07 JULY ’07 COMPARISON is now free to return to the radio; one possibility is WABC. Web site in October. NY area inflation change +0.5% +0.2% +2.5%1 NYC unemployment 5.3% 5.7% 4.6%2 Enough Stuff 3 merchandising at Jones Apparel, JOB TOTAL JULY 12-MONTH CHANGE Ford Foundation will run the division. … Ann kent brownridge and the NY employment change 3,718,400 52,500 appoints president Taylor Chief Financial Officer Quadrangle Group completed 1-Inflation rate for the latest 12-month period. 2-U.S. unemployment rate. 3-Not seasonally James Smith is leaving the their $240 million acquisition of adjusted. the ford foundation named company to pursue other interests. Dennis Publishing and said they McKinsey & Co. Director Luis will fold Stuff magazine. Stuff will NYC Hotel Stats Broadway Stats Ubiñas president. Mr. Ubiñas, become a section in Maxim. who was with McKinsey 18 years, Banks develop Average room rates and occupancy Attendance and gross fell in the week will succeed Susan Berresford trading system levels have been rising since January, ended 8/12, The League of American when she retires in January. She Take-Two receives PKF Consulting data show. The Theatres and Producers says. For the has led the 70-year-old citigroup, Lehman Brothers, notice from SEC averages for first-half 2007 were season, attendance was 10% above foundation since 1996. Merrill Lynch, Morgan Stanley $273.72 and 84.2%, topping year- ’06 levels, at 2.8 million; gross, at and Bank of New York are creating take-two interactive Software earlier levels of $242.48 and 83.5%. $211.4 million, rose 11%. Harper’s iBook a new system for institutional Inc. received a so-called Wells investors to trade unregistered notice from the Securities and harpercollins securities.The Open Platform for Exchange Commission related to made samples of 14 Unregistered Securities aims to the company’s stock options new book titles compete with Goldman Sachs practices.The notice signals that available in an Group’s GS TRuE system in the an SEC enforcement action may iPhone-compatible growing market. be forthcoming. format through its Web site.The pilot Gun crackdown Regatta bought

program lets users news bloomberg view excerpts from a federal judge ruled that a li & fung usa purchased apparel the books. number of out-of-town gun firm Regatta USA for about $145 dealers are subject to lawsuits by million, giving it access to brands New York City.The judge decided such as Daisy Fuentes and Simply Goldman fills that there is a high probability that Vera by Vera Wang. flailing fund the dealers sold guns that were Capital IQ’s Weekly Deals Report used to commit crimes in New Auctions legalized goldman sachs group inc. said York.The ruling allows suits to TRANSACTION SIZE it is leading a group of investors, proceed against shops in Georgia, gov. eliot spitzer signed COMPANY/LOCATION (in millions) BUYER/INVESTOR TRANSACTION TYPE including Maurice “Hank” Ohio, Pennsylvania, South legislation that makes the Icahn Management $1,909.9 American Real Estate Partners SB M&A Greenberg and billionaire Eli Carolina and Virginia. auction of distilled spirits legal in Mount Kisco, N.Y. Broad, who are injecting $3 billion New York. Infocrossing Inc. $568.5 Wipro Technologies Ltd. SB M&A into Goldman’s Global Equity Christie’s, which Leonia, N.J. Orajel IPO Opportunities Fund.The fund has lobbied for the NPS Pharmaceuticals Inc. $100.0 Not disclosed GCI Parsippany, N.J. lost nearly 30% of its value this dli holding corp., maker of legislation with NPS Pharmaceuticals Inc. $50.0 Balyasny Asset Management, GCI month and is now worth about Sally Hansen and Orajel products, the Distilled Parsippany, N.J. Visium Asset Management $3.6 billion. filed to raise up to $200 million in Spirits Council of Mycroft Talisen $10.0 Petra Capital Partners, Ticonderoga GCI an initial public offering. the United States, Manhattan Capital Inc. plans to hold the Worldwide Biggies Inc. $9.0 Greycroft, Hearst Interactive Media, GCI Ann Taylor eyes first auction in Manhattan NBC Universal Inc., Platform Equity, baby boomers O.J. finds December. New Prism VentureWorks publisher York is the eighth Selected deals announced during the week of Aug. 5 for companies headquartered in metro New ann taylor stores corp. plans state to legalize York. GCI: Growth capital investment represents new money invested in a company for a minority stake. SB M&A: Strategic buyer M&A represents a minority or majority acquisition of existing to launch a casual apparel chain in beaufort books acquired the such sales. shares of a company without the participation of a financial buyer. an effort to attract baby boomers. rights to O.J. Simpson’s If I Did It —from staff reports and

bekka lindström bekka Mark Mendelson, former head of and has scheduled it to hit bloomberg news reports

16 | Crain’s New York Business | August 20, 2007 Project4 8/16/07 12:23 PM Page 1

HOWELL WAYNE HUNTINGTON STATION WHITE PLAINS LODI CARLE PLACE MONTROSE STATEN ISLAND 4705 Route 9 North Willowbrook Mall 326 Walt Whitman Road 420 Tarrytown Rd. Wireless Communcation Extreme Wireless Inc CPR Telecommunications Cell Place Inc. 732-905-2371 973-812-8102 631-424-0346 914-684-2055 Broker 33 Old Country Rd 2153 Albany Post Rd 2200 Richmond Ave 187 Route 46 West OAKDALE JERSEY CITY 1616 Route 23 North MANHATTAN PREFERRED DEALERS COLLEGE POINT STONY BROOK 2831 John F Kennedy Blvd 973-633-2165 488 Seventh Ave. MORRISTOWN Solutions Center Cellular Warehouse S & B Wireless 201-332-3720 212-947-7797 NEW JERSEY Teletechnologies, Inc. 132-09 14th Ave 1217A Montauk Hwy 1320 Stony Brook Rd Nextel Store with Sprint NEW YORK MANALAPAN 595 5th Ave. BAYONNE 166 Ridgedale Ave. HASTINGS ON HUDSON OSSINING SUFFERN Products BROOKLYN 973-644-0082 Hablamos Español Route 9 South & Craig Rd. 212-755-0628 Infinity Comm. of Bayonne The Customer Center Mid Hudson Communication Performance Wireless Corp. 732-683-9740 147 Montague St MASSAPEQUA 217 Lafante Way MOUNT OLIVE 33 Saw Mill River Rd 57 Croton Ave 4 Lafayette Ave 718-488-6700 NEW JERSEY NORTH BRUNSWICK 6100 Sunrise Highway CLARK Wireless Advantage MANHATTAN SELDEN WHITE PLAINS BRIDGEWATER 12-02 Kings Highway 516-797-1727 GL Wireless 50 International Dr North Village 718-339-5553 Arjay Wireless Direct Connect The Customer Center Bridgewater Commons Mall 732-843-6271 SAYVILLE 165 Westfield Ave NEW YORK 680 12th Ave 708A Middle Country Rd 300 Tarrytown Road 908-722-3403 FOREST HILLS PISCATAWAY 5191-3 Sunrise Highway EAST BRUNSWICK BRONX MEDFORD New York Wireless Comm EAST HANOVER 1344 Centennial Ave 70-10 Austin Street 631-567-1702 Solutions Center New York Wireless Comm 729 Middle Country Rd 718-459-2500 6 Edgeboro Rd Fab Communications Chadwell Plaza 732-463-6500 SCARSDALE 1575 Stillwell Ave 700-10 Patchogue-Yaphank SOUTH HAMPTON FRESH MEADOWS 973-428-1241 UNION Scarsdale Central Shopping JERSEY CITY Rd S & B Wireless BROOKLYN 700-10 Patchogue-Yaphank HOLMDEL 2565 Route 22 West 176-60 Union Turnpike Ctr. Exclusive PCS 801 Sountry Rd 718-380-9800 914-722-1562 322 Central Ave GL Wireless MILLER PLACE 2130 Route 35 908-624-0780 4805 8th Ave 732-706-2810 Wireless Max 385 Route 25A

Our monthly surcharges are not taxes (including a Universal Service fee that varies quarterly, cost recovery fees up to $1.55 per line and state/local fees that vary by area). Details at sprint.com. The Nationwide Sprint PCS Network reaches over 262 million people. The Nextel National Network reaches over 274 million people. Coverage not available everywhere. Offers may not be available in all markets or retail locations. Terms and conditions apply. Speed claim based on walkie-talkie call set-up time. Subject to credit approval. See store or sprint.com for details. Offers expire 9/3/07 or while supplies last. Available to corporate-liable accounts (activations using a business name and tax ID) only. Up to $36 activation fee and $200 early termination fee apply per line. Nextel Walkie-Talkie: Group and International Walkie-Talkie excluded. International Walkie-Talkie service provided for calls in and between the U.S. and Canada, Mexico, Argentina, Peru and Brazil. Free Incoming Plan: Free Incoming applies to calls received in the U.S. Overage $0.45/min. Nights: 9pm-7am; Wknds.: Fri. 9pm-Mon. 7am. Partial min. charged as full min. ©2007 Sprint Nextel. All rights reserved. SPRINT, the logo, the NEXTEL name and logo, and other trademarks are trademarks of Sprint Nextel. MOTOROLA and the Stylized M Logo are registered in the U.S. Patent and Trademark Office. All third-party product or service names are property of their respective owners. All rights reserved. CNYB 08-20-07 A 18 8/16/2007 1:28 PM Page 1

REAL ESTATE DEALS

seven spots in Manhattan, signed a Downsizing in garment district 10-year lease for 1,500 square feet of ground-floor space and a 1,500 square-foot basement at 141 Fulton ments. Michael and Roy Spiewak kits online for a year. The store is St., between Nassau Street and Uniform maker gets are the fourth generation to run the scheduled to open on Sept. 10. Broadway. It will be the low-priced smaller digs but stays company. It also makes fashionable Ms. Melka says the location fits chain’s second franchised eatery. clothing, which sells at such retail- her needs perfectly. It is surrounded A restaurant opening is a happy on 7th; eShave gets ers as Barneys and Atrium. by a variety of retail and service occasion for Sophie’s,which has had —elisabeth butler cordova providers, including a flower shop, some bad luck in recent years. Its first nonvirtual shop hair salon, bank, wine store and original downtown location was high-end butcher. The area’s foot forced to close after Sept.11,and the niform maker I. Smooth start traffic is driven primarily by its res- midtown store has been closed for Spiewak & Sons is for shaving store idents, many of whom have stopped nearly a month. Co-owner and moving to smaller by to welcome her. president Sophia Luna says the showroom space in the after a year of searching the city “It’s a mixed crowd,and one that’s restaurant, accustomed to steady garment district. for an ideal retail space, Danielle very proud of the neighborhood,” business from local office workers, The company has signed a 10- I. SPIEWAK & Melka found a solution in her own Ms. Melka says. “It’s very different has sustained $400,000 in damages U SONS will be year lease for 8,800 square feet at 463 moving to 463 neighborhood. than if we had opened in midtown, and lost sales. Seventh Ave.,at West 35th Street.It is Seventh Ave. The president of eShave discov- where we were also looking. The Sophie’s hopes that the Fulton moving from 11,000 square feet at ered the 576-square-foot space at clientele there is more transient.” Street outpost will benefit from the 469 Seventh Ave.The company de- 993-B First Ave., between East 54th She plans to open a total of 10 neighborhood’s recent influx of clined to comment. es began moving into buildings on and East 55th streets, while she was eShave stores, five of them in Man- commercial, residential and retail “We’ve been aggressive about the avenue. Many apparel makers walking home.She signed a 10-year hattan. She is eyeing Chelsea and tenants. bringing outerwear companies” to wanting to maintain a presence in lease and is getting ready to debut the West Village for the next two. “There are a lot of office workers the building, says David Levy, an the garment district have moved off her first brick-and-mortar shop. —kira bindrim in that area, which is great for So- Adams & Co. broker who repre- Seventh Avenue and onto side “All the real estate agents told me phie’s in terms of lunches,” said Jor- sented property owner The Arsenal streets, where rents are about half as that the first store is always the hard- dan Spiegel, the Sunburst Advi- Co. Michael Burgio, at Cushman & much. They have also been rising est one to get,but everything flowed Cuban cuisine sories broker who represented the Wakefield Inc., negotiated on be- with demand, however. so well,” says Ms. Melka, who for Fulton St. building owner. “Plus, a lot of Wall half of the tenant. Spiewak, a family business start- worked directly with the landlord Streeters are moving downtown. Asking rent was about $42 a ed in Brooklyn 105 years ago, is Stahl Realty.The asking rent for the though sophie’s Cuban Cuisine on The residential population is grow- square foot, which is comparable to known for its durable clothing. It space, which includes 288 square West 41st Street remains closed in ing significantly.” asking rents in other Class B office produced uniforms for U.S. soldiers feet of retail space and a basement of the aftermath of the steam-pipe ex- Jack Braha of Jud Leasing Corp. buildings on Seventh Avenue. in both world wars and has made equal size, was $145 a square foot. plosion in July, a Sophie’s is slated to represented Sophie’s. The asking Prices have increased recently as law jackets for the New York, Chicago The company has been selling its open downtown, on Fulton Street. rent was $175 a square foot. firms and other professional servic- and Los Angeles police depart- shaving accessories, sets and travel The company, which already has —kira bindrim

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18 | Crain’s New York Business | August 20, 2007 CNYB 08-20-07 A 19 8/16/2007 2:41 PM Page 1

UNIONS IN NEW YORK INSIDE Q&A The president of the reorganized NYC Central Labor Council talks about its missions and goals PAGE 20 NY’S LARGEST UNIONS ranked by number of members PAGE 22 Organizing effort pays off for UFT Increases membership by 20% by adding child care providers The UFT hasn’t determined a BY VICTORIA RIVKIN dues structure yet for the child care providers, who earn $20,000 a year in a few months, union officials on average. But even if they pay half representing close to 28,000 home- the amount that city teachers pay— based child care providers in New $921 in 2005—the union would in- York City will be sitting down with crease its annual revenues by $12.8 the state to negotiate their first con- million. And in a city where labor tract, which is likely to include a pay unions are politically active, anoth- increase, health insurance and other er 28,000 potential votes will carry benefits. weight with elected officials. “This It will not only be a victory for the will bolster the union’s power polit- child care providers—who up until ically and add to its already diverse May did not even have the right to membership,’’ says Joshua Freeman, unionize—but a coup for the union a history professor and union schol- that organized them, the United ar at Queens College. Federation ofTeachers.Already one of the city’s largest and most power- Taxpayers could be hit ful unions, the UFT is increasing its while the uft hasn’t yet come membership by nearly 20% in one up with a proposed contract for the fell swoop, adding millions of dol- child care providers, it could cost lars in union dues to its coffers and state taxpayers millions. In Illinois, strengthening its influence with city where 49,000 home-based child and state officials. care providers unionized, the state “This is one of the largest single signed off last year on a three-year, DUEFOR MORE: Nila Edwards, [bargaining] units a union has won $250 million contract that includes who watches children in her in decades, probably since the hos- $33 million of new money to cover Brooklyn home, expects pitals were unionized in the city in the first year of rate increases. The unionization to help with her the late 1960s and early ’70s,” says state has also agreed to make a one- benefits. Ed Ott, executive director of the time payment of $27 million toward New York City Central Labor health premiums for the providers. Council. “It adds to the strength of Mr. Freeman says that New York the UFT and adds to their leader- could be facing another unforeseen

buck ennis ship role in the labor movement.” See ORGANIZING on Page 20

LAURA TAPIA, Retail workers union tries new sales pitch an organizer for the retail union, works with with another association, the community minimum wage, $7.15 an hour, and has two community group Teams up with community Make the Road group Make the Road by Walking. days off each week, two weeks’ paid vacation by Walking. groups to help break ice The retail union began working with Make and a health insurance plan. the Road more than two years ago in a Make the Road is one of several with low-wage workers campaign to improve working condi- GETTING community groups that the retail work- tions in the 170 stores along Knicker- ers union is partnering with in a new ef- bocker Avenue. The partnership’s Organized fort to organize employees. The union BY WENDY DAVIS biggest success came last year, when also has joined forces with at least two 3 LOCALS about 100 employees of the try to raise city other community groups in the city,the every day, union organizer Laura Tapia Footco/New York Sneakers chain membership Good Old Lower East Side in Man- pounds the pavement on Knickerbocker Av- joined the union. Page 21 hattan and the Northwest Bronx Com- enue in Bushwick, Brooklyn. She’s on the “Before, we didn’t have anything,” munity and Clergy Coalition. payroll of the Retail, Wholesale and Depart- says Christina Roche, who has sold sneakers For the retail workers union, partnering ment Store Union, but when she goes out to at Footco for four years. She used to work six- with community groups is born out of a recog- interview employees about their wages and day, 52-hour weeks for $5.25 an hour. Now nition that the old strategy of focusing just on

working conditions, she touts her affiliation that there’s a union contract, she earns the See NEW SALES PITCH on Page 21 buck ennis

August 20, 2007 | Crain’s New York Business | 19 CNYB 08-20-07 A 20 8/16/2007 1:32 PM Page 1

REPORT UNIONS IN NEW YORK

sponse, the CLC changed its gov- The CLC has a strong legis- Skeptics say they want more erning structure, transferring day- lative arm. Many things that affect members because they want more to-day responsibilities from the both public and private sector dues dollars, but it is so far beyond president to the executive director. unions are driven by legislation and that. It is to elevate people’s It also made the presidency a part- policy set by the city. So we serve as standard of living and to find a Q&A time, unpaid position and limits an an advocate for the affiliates within vehicle for them to enter the individual to one three-year term. the mayor’s office and the City middle class. Mr. LaBarbera, 47, continues to Council. Most of the affiliates have drives serve as president of Teamsters Lo- going on, but organizing is difficult Labor cal 282 on Long Island, which rep- Q: How badly did Mr. McLaughlin because of the unfavorable laws. resents about 4,000 construction- hurt your organization, and what We’re trying to change that. (A truck drivers.He joined the union in kind of challenge does that pose for proposed federal bill would allow movement 1981, when he went to work as a you? unionization after a majority of forklift operator in a King Kullen A: It’s history.The new structure workers sign union authorization priorities warehouse. Mr. LaBarbera recently within the CLC is moving forward. CARD-CARRYING: Mr. LaBarbera joined the cards. Currently, after most workers talked with Crain’s assistant manag- The executive board—not any one Teamsters as a forklift operator in 1981. have signed cards, an employer can ing editor Robert Hordt. individual—is the governing body request an election—a process that New CLC head sees in terms of policy, and that is a can take months and that unions Q: What is the role of the Central significant change. to improve the lives of working say favors employers.) The law is change in election Labor Council? people and to have strong not going to be changed under the law as critical issue A: First, it is not a union. It Q: What are your priorities? communities. Bush administration. But it is represents 400 local labor unions A: We have serious issues probably the most important issue ary labarbera is the that have 1.2 million members, but regarding economic development, Q: The United Federation of for organized labor throughout the new president of the it is not a bargaining agent for any critical issues regarding health care Teachers is in the process of organizing country, and that’s why there’s such New York City Cen- individual union. It is designed to costs and concerns about the overall 28,000 home-based child care an emphasis on ’08 and the tral Labor Council. work with its affiliate unions in a rising cost of living for working providers. Are there any other big presidential election. If we are His predecessor, for- number of capacities. One is people. We want to find solutions. groups of workers in the city that successful in getting the law passed, Gmer state Assemblyman Brian mutual aid, in which local affiliates We realize that a strong unions are targeting? it will change the future of McLaughlin, was fired after being contact the CLC when they have partnership with the business and A: Organizing is one of the core organizing in this country. indicted last October on embezzle- disputes or when they need help political communities is critical to issues for unions, to bring more ment and fraud charges. In re- from other affiliates. the future. Ultimately, our goals are people into the labor movement. COMMENTS? [email protected] Organizing pays off It makes $en$e Continued from Page 19 case, the UFT was able to quickly expense. He says once the home- gather the 8,400 signatures needed to for your business based child care providers get in- request a union election. Late last creases from the state in their new month,the New York State Employ- contract, the city’s day care centers, ment Relations Board certified the to save energy which are already unionized, might signatures.An election,largely a sym- seek raises as well.That’s what hap- bolic exercise, will be held in the next pened in Illinois,where the Legisla- few weeks, and then the union will ture increased day care center subsi- prepare for contract negotiations. dies by $18 million this year. Randi Weingarten, president of the UFT, says the child care ower Saving Partners, Con Edison, and Smoother path providers, mostly immigrants and Pthe New York State Energy Research and whatever the new contract final- mostly female,deserve higher wages Development Authority (NYSERDA), are offering ly looks like, the home-based child and benefits.“This is a group of peo- Photos courtesy Morgan Stanley millions in incentives for customers in the New care providers have Gov.Eliot Spitzer ple who are really exploited,” says York City metropolitan area and Westchester to thank. Most organizing drives are Ms. Weingarten.“They are regulat- County to reduce electricity use. Participating knock-down, drag-out affairs pitting ed by so many different government businesses report outstanding results. iron-fisted labor leaders against agencies, yet there is no one there to equally strong-willed employers who help them navigate the system.” The Morgan Stanley headquarters for its Private campaign hard to keep their work- In some ways, the UFT has al- Wealth and Asset Management groups is located places union-free.But this organizing ready been representing the child within a 747,595 square-foot office building in effort was different. While the union care providers. In the past two years, Purchase, New York. The company implemented courted the child care providers, the the UFT and the Association of energy-efficiency measures while renovating the more important negotiations were Community Organizations for Re- building. being conducted in Albany. form Now, known as Acorn, have Although home-based child care helped win more than $154,000 in NYSERDA provided assistance through its providers care for the children of back pay owed to some child care Peak-Load Reduction Program for a 1,400 ton low-income workers who receive workers.The groups also got the City Trane Earthwise CenTraVac chiller, which operates child care subsidies from the state, Council to give some providers a at 0.576 kW/ton in day mode. The system has the the providers are independent con- $150 yearly stipend to buy supplies. flexibility to run on chiller, ice or a combination of tractors,not state employees.As a re- both. An emergency mode can provide comfort sult,they could not unionize without Past difficulties cooling while making ice in the evening. Ice storage tanks charged at a change in the law. After lobbying gladys jones, a home-based child night, discharged during the day. from the UFT and the Civil Service care provider in Staten Island, re- A $314,500 NYSERDA incentive Employees Association, another ceived nearly five months of back helped Morgan Stanley achieve: union that will represent 30,000 up- pay as a result of the UFT’s efforts. state child care providers,Mr.Spitzer “I used to call the Administration • Estimated summer peak reductions of 740 kW signed an executive order in May for Children’s Services, and they • Estimated annual electric savings 870,000 kWh granting them the right to organize. were very rude and unhelpful.I even • Estimated annual natural gas savings 150,000 therms “It’s the single biggest favor any had them tell me that I should just • Annual operating savings $545,000 governor ever did for the unions,’’says forget about ever getting the money • A simple payback of 4.5 years E.J. McMahon, a senior fellow of the owed to me,” she says. • Carbon reduction of 475 tons Manhattan Institute and the director “We never knew what we were of the Empire Center for New York entitled to,’’ says Nila Edwards, a Find out how you can save energy and earn State Policy.The Legislature passed a provider who watches seven chil- incentives. Visit www.nyserda.org/programs bill last year that would have given the dren in her home in East New York, or call 1-866-NYSERDA. workers the same right, but then- Brooklyn. “If you don’t know, you Gov. George Pataki vetoed it. just accept what you can get.” Power Saving Partners Without any opposition from the state, the nominal employer in this COMMENTS? [email protected]

20 | Crain’s New York Business | August 20, 2007 CNYB 08-20-07 A 21 8/16/2007 1:35 PM Page 1

REPORT UNIONS IN NEW YORK

New sales pitch LOCAL 32BJ ADOPTS NEW SECURITY STRATEGY ORGANIZING 6,000 SECURITY GUARDS in midtown and whom are employees of Summit Security Services, Continued from Page 19 Knickerbocker Avenue,where Make lower Manhattan is proving difficult for the Service the third-largest security provider in the city. The employees is no longer working. As the Road is leading a boycott over al- Employees International Union Local 32BJ because union has asked the financial services giant to of last year,just 12% of full-time em- leged labor law violations. they work at dozens of small firms. The largest firm pressure Summit to let its guards unionize, and ployees nationwide belonged to a The union is working with Good has just 6% of the market. to switch security contractors if Summit union, down from 16.4% in 1989, Old Lower East Side as it fights the As a result, rather than dilute its resources by doesn’t act. according to the U.S. Bureau of La- owner of a retail store, Yellow Rat focusing on the firms, Local 32 is appealing to Local 32 has been rebuffed so far. “This bor Statistics. In New York state, Bastard, over wages and working commercial tenants and landlords with the is an issue between the security guards and 24.4% of employees were in unions conditions. The state attorney gen- argument that unionized security workers would their employers,” says a spokeswoman for in 2006, down from 27.9% in 1989. eral has sued the owner for $2 mil- be better trained and more professional. J.P. Morgan Chase, which owns four major Part of the problem is the make- lion for alleged labor law violations. One of the Local 32’s targets is J.P. Morgan buildings in the city, three of them in Manhattan. up of the workforce. Many of the Chase & Co., which uses about 100 guards, 77 of —VICTORIA RIVKIN

people the union is trying to orga- Hidden benefits istockphoto nize are low-wage immigrant work- unions stand to benefit even if ers who come from cultures that do their partnerships with community INSPIRED BY A LABOR LEGACY be supervised by the not have an affinity for unions. groups don’t immediately result in National Labor “People are afraid to talk to an increase in union membership, THE LOWER EAST SIDE, where the union authorization cards. Relations Board. unions,” says Ms. Tapia, the labor says Lawrence White, a professor at International Ladies Garment Workers The employees say they Unions often see organizer working in Bushwick. On New York University’s Stern School Union was born over 100 years ago, is want a raise, benefits, elections as a the other hand, workers welcome of Business. In some cases, unions now the site of a union-organizing drive guaranteed hours and a delaying tactic. her when she mentions have joined with communi- at a museum dedicated to the lounge where they can “The museum is Make the Road, formed 10 GETTING ty groups to keep anti-union neighborhood’s past. take breaks. hoping that if they years ago as an immigrants’ retailers such as Wal-Mart The Technical, Office and But the private take this to the

rights group. “Make the Organized from opening stores in New Professional Union UAW Local 2110 nonprofit is fighting back. corbis NLRB, then the Road is an institution that York City. is attempting to unionize about 40 In a statement, the tenement museum union will go away—but we’re not going most of the people know and In fact,the prospect of an per-diem tour guides and other workers says that the union should also include away,” says Local 2110 President trust,” she says. anti-union store moving into their at the Lower East Side Tenement all 40 full-time employees and that Maida Rosenstein. Unions have little choice but to community is exactly what the Museum. Most of them have signed there must be an election—which would —VICTORIA RIVKIN work with community groups if they Northwest Bronx Community and want to rebuild their ranks, says Clergy Coalition and the retail Thomas Kochan, a professor of workers union hope to avoid. The

management at the MIT Sloan community group sought help from CORPORATE & INVESTMENT BANKING I ASSET MANAGEMENT I PRIVATE WEALTH MANAGEMENT School of Management and a mem- the union last year when the city was ber of the U.S. Commission on the getting ready to solicit proposals to Future of Worker Management develop the Kingsbridge Armory. Relations. As a result,the city’s request for pro- posals includes a preference for de- A plane will take you to new markets. Cultural considerations velopers who commit to hiring re- Deutsche Bank will help your business take off. “it’s absolutely essential to work tailers that offer jobs with “living with community groups,immigrant wages”—defined as $10 an hour groups, the religious groups that with benefits or $11.50 an hour these workers come from and relate without. to,” he says. Such groups give the “In order for us to be able to of- union legitimacy with workers. fer living-wage jobs, we knew we Building on their success at had to work with the union,” says Footco,the retail workers union and Teresa Andersen, president of the Make the Road are working to- Bronx group. gether to rally support for workers at the Associated Supermarket on COMMENTS? [email protected] VERIZON HANGS UP ON CWA FEDERAL LEGISLATION making it easier for workers to join unions can’t come fast enough for the Communications Workers of America District 1. The CWA and the International Brotherhood of Electrical Workers are trying to organize 390 Verizon Business technicians—270 of them in New York City—and a change in the law regulating unionization would guarantee their membership. The technicians were formerly at MCI, which Verizon bought. It created a separate division for them rather than fold them into its unionized workforce. This spring, 67% of the workers signed union authorization cards. Under current law, that allows the CWA to petition the National Labor Relations Board for an election. An employer can waive an election and automatically recognize the union, and that’s what the CWA would like Verizon to do. So far, it has refused. A labor-backed bill that would unionize a company’s workers after a majority of them sign the cards—thus making elections unnecessary—passed in the House but died in the Senate this summer. The CWA is resisting the move to the labor relations board. “Going to the NLRB is like going into the black hole,” says Tim Dubnau, organizing coordinator for the CWA District 1. A company’s lawyers “can stall a union’s efforts at the NLRB for years,” he says. www.db.com To put pressure on Verizon, the CWA has launched a campaign to have its 700,000 members nationwide switch to AT&T from Verizon Wireless. The company remains unswayed. “Any union organizing in Verizon Business occurs according to current law, which guarantees each employee’s

right to cast a vote via secret ballot,” a spokeswoman says. Deutsche Bank Securities Inc., a subsidiary of Deutsche Bank AG, conducts investment banking and securities activities in the United States. Deutsche Bank — VICTORIA RIVKIN Securities Inc., is a member of NYSE, NASD and SIPC. © 2007 Deutsche Bank AG.

August 20, 2007 | Crain’s New York Business | 21 CNYB 08-20-07 A 22 8/16/2007 1:37 PM Page 1

REPORT UNIONS IN NEW YORK

UNION COMPOSITION HIGHEST-PAID CITY UNION OFFICIALS Demographic characteristics of U.S. union members, 2006 Union1 Name/title 2006 compensation2

White 12,259,000 RWDSU Local 338 John Durso, president $278,354

2,163,000 UFCW Local 1500 Bruce Both, president $254,955 Weingarten

Black or African-American ap images UFT Local 2 Randi Weingarten, president $240,8483 Women .6,702,000 Asian 592,000 8,657,000 Men . SEIU Local 32BJ Michael Fishman, president $213,476 Other 345,000 4 Council of School Supervisors Jill Levy, president $198,903 Fishman daily news daily 1 Hispanic 1,770,000 1-Excludes IBT Local 237, AFSCME Local 1549, Uniformed Firefighters Association Local 94 and New York City Patrolmen’s Benevolent TOTAL 15,359,000 Association, which were not required to file compensation data with the U.S. Dept. of Labor’s Office of Labor Management Standards. 2-Includes disbursements for meal and travel allowances, entertainment and other union activities. 3-From 2005 annual financial 1-People of Hispanic origin can be of any race; they are also included in other categories. Sources: U.S. Department of Labor, Bureau of Labor Statistics (LM) report, the latest available. 4-Jill Levy stepped down on Jan. 31, 2007. Ernest Logan became president on Feb. 1, 2007. New York City’s Largest Local Unions Ranked by number of members

2006 dues 2006 Phone/Web site 2007 2006 receipts assets Year Rank Union Parent body union Top executive members1 members1 % change (in millions) (in millions) founded Groups represented

1199 SEIU United Healthcare Workers East (212) 582-1890 George Gresham 295,000 275,000 +7.3% $120.4 $64.4 1932 Health care workers: registered 310 W. 43rd St. www.1199seiu.org President nurses, pharmacists, 1 New York, NY 10036 Service Employees International Union nursing/physician assistants, home care/nursing home workers UFT Local 2 2 (212) 777-7500 Randi Weingarten 150,000 150,000 0.0% n/d n/d 1960 Nonsupervisory public school 52 Broadway www.uft.org President educators 2 New York, NY 10004 American Federation of Teachers SEIU Local 32BJ (212) 388-3800 Michael P. Fishman 85,000 78,965 +7.6% $49.8 $28.4 1934 Residential and commercial 101 Sixth Ave. www.seiu32bj.org President property service workers, 3 New York, NY 10013 Service Employees International Union including cleaners, doormen and security officers Transport Workers Union Local 100 (212) 873-6000 Roger Toussaint 39,975 39,975 0.0% $20.7 $44.3 1934 Transport workers, including bus 80 W. End Ave. www.twulocal100.org President operators, train operators, train 4 New York, NY 11210 Transport Workers Union of America conductors, motormen, station agents, tower operators IBEW Local Union 3 (718) 591-4000 Christopher Erikson 30,677 3 30,564 +0.4% $1.8 $32.1 1888 Construction, manufacturing, 158-11 Harry Van Arsdale Jr. Ave. www.local3.com Business manager maintenance employees 5 Flushing, NY 11365 International Brotherhood of Electrical Workers UNITE HERE Local 6 (212) 957-8000 Michael Simo 25,000 21,023 4 +18.9% $13.1 4 $13.7 4 1938 Hotel and private club employees 709 Eighth Ave. — President 6 New York, NY 10036 UNITE HERE New York City Patrolmen’s Benevolent Association 5 (212) 233-3351 Patrick J. Lynch 24,000 22,500 +6.7% n/d n/d 1894 Police officers 40 Fulton St. www.nycpba.org President 7 New York, NY 10038 — IBT Local 237 5 (212) 924-2000 Gregory Floyd 22,914 22,764 +0.7% $11.7 $4.1 1951 School safety agents, hospital 216 W. 14th St. — President police officers, CUNY campus 8 New York, NY 10011 International Brotherhood of Teamsters peace officers, NYC housing authority caretakers UFCW Local 1500 6 (800) 522-0456 Bruce W. Both 21,856 22,742 -3.9% $8.1 $27.7 1937 Grocery store workers, 221-10 Jamaica Ave. www.ufcw1500.org President pharmacists and pharmacy 9 Queens Village, NY 11428 United Food and Commercial Workers Union workers Professional Staff Congress (212) 354-1252 Barbara Bowen 20,956 8 15,031 9 +39.4% $8.7 4 $6.9 1972 CUNY faculty and professional AFT Local 2334 7 www.psc-cuny.org President staff 10 61 Broadway American Federation of Teachers New York, NY 10006 AFTRA-NY Local 10 (212) 532-0800 Stephen Burrow 20,619 11 20,619 0.0% n/d 12 n/d 12 1937 Actors, broadcasters, singers, 260 Madison Ave. www.aftra.org Executive director dancers, sportscasters, disc 11 New York, NY 10016 American Federation of Television & Radio jockeys and recording artists Artists OPEIU Local 153 (212) 741-8282 Michael Goodwin 18,556 18,614 -0.3% $6.4 $0.8 1945 Office, clerical, technical and 265 W. 14th St. www.opeiu-tristate.org Business manager professional employees 12 New York, NY 10011 Office and Professional Employees International Union AFSCME Local 1549 5 (212) 815-1549 Eddie Rodriguez 18,000 18,000 0.0% n/d n/d 1964 Clerical-administrative 125 Barclay St. www.local1549.com President employees 13 New York, NY 10007 American Federation of State, County and Municipal Employees RWDSU Local 338 (718) 997-7400 John R. Durso 14,000 12,000 +16.7% $5.0 4 $49.0 4 1925 Supermarket and retail pharmacy 97-45 Queens Blvd. www.local338.org President employees 14 Rego Park, NY 11374 Retail, Wholesale and Department Store Union Committee of Interns and Residents (212) 356-8100 Simon Ahtaridis 12,500 12,000 +4.2% $7.6 $4.6 1957 Medical interns, residents and SEIU Local 1957 13 www.cirseui.org President fellows at public and private 15 520 Eighth Ave. SEIU Healthcare teaching hospitals New York, NY 10018 Council of School Supervisors (718) 852-3000 Ernest A. Logan 11,903 11,817 +0.7% $9.6 $11.8 1968 Principals, assistant principals, and Administrators 14 www.csa-nyc.org President education administrators, day 16 16 Court St. American Federation of School Administrators care directors and assistant Brooklyn, NY 11241 directors LIUNA Local 300 Mail Handlers 15 (212) 431-0040 Paul Hogrogrian 11,468 11 11,468 0.0% $2.8 $1.2 1972 Mail handlers 401 Broadway www.local300npmhu.org President 17 New York, NY 10013 National Postal Mail Handlers Union Continued on Page 24

22 | Crain’s New York Business | August 20, 2007 Project2 3/19/07 10:49 AM Page 1

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REPORT UNIONS IN NEW YORK

2006 dues 2006 Phone/Web site 2007 2006 receipts assets Year Rank Union Parent body union Top executive members1 members1 % change (in millions) (in millions) founded Groups represented

IBT Local 210 (212) 757-3463 George L. Miranda 10,817 10,650 +1.6% $5.7 $7.5 1953 Airline employees, generic-drug 110 Wall St. www.ibtlocal210.org Secretary, treasurer manufacturer employees, Costco 18 New York, NY 10005 International Brotherhood of Teamsters employees CWA Local 1180 14 (212) 226-6565 Arthur Cheliotes 9,300 7,965 +16.8% $2.1 $1.2 1965 NYC government administrative 6 Harrison St. www.cwa1180.org President workers, supervisors, nonprofit 19 New York, NY 10013 Communications Workers of America employees Uniformed Firefighters Association Local 94 5 (212) 683-4832 Stephen T. Cassidy 9,000 9,000 0.0% n/d n/d 1918 Professional firefighters 204 E. 23rd St. www.ufanyc.org President 20 New York, NY 10010 International Association of Firefighters Associated Musicians of Greater New York (212) 245-4802 Mary Landolfi 8,981 9,167 -2.0% $6.8 $7.3 1921 Professional musicians Local 802 www.local802afm.org President 21 322 W. 48th St. American Federation of Musicians New York, NY 10036 AFSCME Local 389 16 (212) 219-0022 Elizabeth Studdivant 8,740 11 8,740 0.0% $0.2 $0.1 n/d Home care employees 75 Varick St. www.dc1707.net/local389.htm President 22 New York, NY 10013 American Federation of State, County and Municipal Employees CWA Local 1101 14 (212) 633-2666 Joseph Connolly 8,197 8,298 17 -1.2% $5.5 $5.2 1961 Wireless and wire 275 Seventh Ave. www.cwa1101.org President telecommunications, health care, 23 New York, NY 10001 Communications Workers of America education workers Laborers Local 79 15 (212) 465-7976 John Delgado 8,132 11 8,132 0.0% $10.1 $11.1 n/d Mason tenders, demolition 520 Eighth Ave. www.nysliuna.org/local Business manager workers 24 New York, NY 10011 Laborers’ International Union of North America UNITE HERE Local 100 (212) 541-4226 Bill Granfield 7,707 7,110 +8.4% $2.9 $0.4 1982 Bartenders, cashiers, cooks, 333 W. 14th St. www.unitehere100.org President waiters and food service 25 New York, NY 10011 UNITE HERE employees New York City includes Bronx, Brooklyn, Manhattan, Queens and Staten Island. Crain’s New York Business uses staff research, extensive surveys andthe most current references availabletoproduce its lists, but there is noguarantee thatthese listings are complete. Private sector labor unions are required to file annual financial (LM)reports to the U.S. DepartmentofLabor’s OfficeofLabor ManagementStandards. Unions composed of state and local governmentemployees are not required to filethese reports. Toqualify for this list, alocal unionmust be headquartered in New York City. Intermediary bodies or union structures like district, regional andstate councils are excluded. All information was provided by theunions, unless otherwise noted. Financial figures are for calendar yearexceptwhere noted. Financial figures for unions with fiscal years endinginApril throughDecember are for the yearended 2006, and figures for unions with fiscal years endingin January throughMarch are for the yearended 2007. n/d Not disclosed. 1-AsofJune 30. 2-Fiscal yearends July 31. 3-AsofJuly 31. 4-Union did not disclose figure. Figure obtained from union’s 2006 LM filings. 5-Composed of public sector employees andisnot required to filefinancial reports with the DepartmentofLabor’s OfficeofLabor ManagementStandards. 6-Fiscal yearends March 31. 7-Fiscal yearends Aug. 31. 8-AsofMay 31. 9-AsofAug. 31. 10-Union did not respond. Figures obtained from union’s 2006 LM filings. 11-Crain’s estimate based on union’s 2006 LM filings. 12-Figure is consolidated into the AFTRA National LM-2 filing. 13-Fiscal yearends June 30. 14-Fiscal yearends Sept. 30. 15-Union declined to respond. All figures were obtained from theunion’s 2006 LM filings, exceptwhere noted. 16-Fiscal yearends May 31. 17-AsofSept. 30. Research: Denise Southwood, AdriannePasquarelli, KathleenMorgenier andSarah Studley

ALL CRAIN’S BUSINESS LISTS ARE AVAILABLE AT WWW.NEWYORKBUSINESS.COM/LISTS.

There’s been a lot of talk lately about the need for accountability in our public schools. New York City’s teachers couldn’t agree more — we’re fully accountable to the city’s 1.1 million school children who depend on us for a quality education. That’s why our voices deserve to be heard. So when big changes are made in our schools, teachers need to be involved and invested in the plans. We’re already making a difference in the futures of our kids. We can also make a difference in the futures of our schools. All we ask New Yorkers to do is listen.

Randi Weingarten, President

24 | Crain’s New York Business | August 20, 2007 CNYB 08-20-07 A 25 8/16/2007 1:54 PM Page 1

SMALL BUSINESS Stationer shutters retail flagship

alone and boasts large,richly stocked way was too small for tractor trailers. ventory by around Faced with big-box stores. Retail sales make up 33% of Meanwhile, property values in the 20%. Meanwhile, by competition, Peck’s Peck’s $5 million in annual revenue, area kept rising, adding to the pres- making his purchases down from 60% 25 years ago. sure on Mr.Peck to cash in his chips. through a cooperative focuses on serving “It’s been difficult for an organi- Several years ago, he even went that includes 400 in- business accounts zation like theirs to compete with so far as to hire an architect to draw dependent office sup- Staples and stores of that nature,” up plans to develop an office tower ply stores, he reckons says Joyce Moy, director of business and apartment building on the site. he can handily com- BY WENDY DAVIS and community development at La- But in the end,Mr.Peck decided the pete with the chains on Guardia Community College. “Be- venture was too risky. “I thought, price. n october,just a few months cause of space, they don’t have the who am I kidding?”he says.“I’m not “The office supply past its 78th birthday, the a builder.” business is our bread Peck’s Office Plus store on and butter,” he says. Main Street,Flushing,will be IN A NUTSHELL Big investment “We’re never going to no more. The company, PECK’S instead mr. peck sold the site in walk away from that Iwhich won a small business award April and two months later signed a business.” Instead, he from Crain’s in 2004 in part because lease for a 13,000-square-foot of- plans to build on that of its ability to outfox its chain-store FOUNDED 1929 fice/warehouse space on Jamaica line of business by sell- rivals, is moving to Brooklyn, where EMPLOYEES 20 (after the move) Avenue in Cypress Hills, Brooklyn. ing more office furni-

it will focus on selling office furni- So far, he’s invested hundreds of ture and office design buck ennis BEST-SELLING B-TO-B PRODUCT ture and supplies directly to busi- thousands of dollars in reconfigur- services in his new ROBERT PECK says his firm won’t leave the office supply business. nesses. copy paper, $31.99 a case ing and furnishing the space. He quarters. “When we examined our busi- (10 reams) also purchased a new computer sys- Mr. Peck, who ness,we looked at our retail sales de- BEST-SELLING RETAIL PRODUCT tem that will make it easier to sched- spent two years as a copywriter at an in Ridgewood,Queens,which brings clining and our commercial sales copy paper, $3.99 a ream ule deliveries and track inventory, advertising agency before entering in 6% of Peck’s revenues. growing, and it just made sense to among other things. the family business at age 24, plans In the future, there may even be find a location conducive to growing Going forward,Mr.Peck plans to to promote the retooled enterprise others. the latter,” says Robert Peck, the variety and inventory that a store continue selling printer cartridges, via a new ad campaign using direct “If I see an opportunity in anoth- company’s president. like Staples might have.” envelopes and other office supplies mail and newspaper inserts. er area where I think it could work, The move comes in the face of Even Peck’s business-to-busi- to his 800 active commercial ac- Meanwhile,he won’t be abandon- we will open up another store,” Mr. growing competition for retail cus- ness operation was hobbled by the counts. He reckons his new, better- ing retailing entirely. The company Peck says. tomers from big chains like Staples, company’s 23,000-square-foot configured space will allow him to will continue to operate its 1,540- which has 11 outlets in Queens Main Street site, where the drive- increase the total volume of his in- square-foot outlet on Myrtle Avenue COMMENTS? [email protected]

Neighborhood Journal THE CRAIN’S BEAT SHEET

EDITORS Covers the banking and energy Flooding leaves Queens GREG DAVID industries and the New York economy. EDITOR SAMANTHA MARSHALL e-mail: [email protected] SENIOR REPORTER In charge of all editorial operations e-mail: [email protected] businesses up the creek for the paper and related products. Covers education, and international RICHARD BARBIERI business and trade. MANAGING EDITOR ANNE MICHAUD several local politicians swung into ity Inn on 94th Avenue and 143rd Owners join with e-mail: [email protected] SENIOR REPORTER action last week. Rep. Joseph Crow- Street in Jamaica.The hotel took in Oversees paper’s day-to-day functions. e-mail: [email protected] local politicians to ley joined local City Council mem- about 10 feet of water in the floods VALERIE BLOCK Covers politics and government, bers Eric Gioia, Leroy Comrie, that rippled through the area in July, DEPUTY MANAGING EDITOR works on Crain’s Insider newsletter. call for investigation, David Weprin, James Gennaro and and Manager Nikul Patel still has e-mail: [email protected] MIRIAM KREININ SOUCCAR Thomas White in calling for an in- not been able to reopen. Edits “New York, New York” SENIOR REPORTER long-term solution vestigation into the persistent Business owners and the Greater column and other stories. e-mail: [email protected] flooding of their Queens neighbor- Jamaica Development Corp. are ERIK IPSEN Covers the business of arts and culture. BY HILARY POTKEWITZ hoods. trying to organize a meeting with DEPUTY MANAGING EDITOR THERESA AGOVINO “I’m a little frustrated that the City Council and the DEP, e-mail: [email protected] REPORTER ore than 100 busi- FEMA hasn’t come out to Queens where owners like Ms. Posner and Edits small business columns e-mail: [email protected] nesses in parts of Ja- yet,” says Mr. Comrie. “We’ve had Mr.Patel can testify about the recur- and special reports. Covers commercial real estate. maica and Wood- the three heaviest rainstorms of the ring problem. CARMEN FLEETWOOD BARBARA BENSON ASSISTANT MANAGING EDITOR REPORTER side in Queens have year flooding out businesses in my A hearing with city officials e-mail: [email protected] e-mail: [email protected] yet to recover from district, and we need to start work- couldn’t come soon enough for Ms. Edits special reports and Crain’s Health Works on Health Pulse newsletter. flooding caused by the Aug. 8 thun- ing on how to deal with this flash- Posner. Classique Perfumes was at- M Pulse. ELISABETH BUTLER derstorms that triggered disrup- flood phenomenon.” tracted to Queens in the 1980s by ROBERT HORDT REPORTER tions across the city. Business own- the city’s Industrial Relocation and ASSISTANT MANAGING EDITOR e-mail: [email protected] ers say that flooding has become a Rising water table Renovation Program. e-mail: [email protected] Covers retail and apparel. chronic problem in the area, and data from the city’s Department “They want to bring you to this Edits special reports and other stories. ERIK ENGQUIST they insist that something needs to of Environmental Protection seem area to build it up and provide jobs, REPORTERS REPORTER be done. to confirm the chronic nature of the and then they just drop you here e-mail: [email protected] “I can’t even go into it,”says Irene problem. DEP studies reveal that without a paddle,” she says. AARON ELSTEIN Covers politics and government, Posner, vice president of sales and the water table beneath Queens has The company owns its 7,500- SENIOR REPORTER works on Crain’s Insider newsletter. e-mail: [email protected] AMANDA FUNG operations for Classique Perfumes, been rising steadily since the 1990s. square-foot building and a 2,000- Covers Wall Street. a perfume and essential oil manu- At the Parsons-Archer Avenue sub- square-foot mezzanine/showroom, REPORTER facturer on Archer Avenue. “Just as way station and at York College in bought with the help of tax breaks LISA FICKENSCHER e-mail: [email protected] SENIOR REPORTER Covers technology and telecom. I was about to get up and running af- Jamaica, for example, Mr. Comrie provided under the relocation pro- e-mail: [email protected] ter the July flooding,we had this one notes that pumps are currently run- gram. Moving out is not an option, HILARY POTKEWITZ Covers tourism, restaurants, hotels. REPORTER [in August].” ning 24 hours a day. though Ms.Posner admits that late- MATTHEW FLAMM e-mail: [email protected] Ms. Posner has yet to tally the Council members have been ly she’s been nostalgic for her old SENIOR REPORTER Covers legal issues and transportation. damages but estimates she’s lost pushing for improvements to the digs. e-mail: [email protected] GALE SCOTT hundreds of thousands of dollars. area’s sewer system that would be “We used to be located in Long Covers media and entertainment. REPORTER Each time the area floods,she has to tied to the development of down- Island City, which did not flood, by TOM FREDRICKSON e-mail: [email protected] throw out her entire inventory and town Jamaica. the way,” she says. SENIOR REPORTER Covers hospitals and insurers, start from scratch. Any long-term solution would e-mail: [email protected] works on Health Pulse newsletter. In response to merchants’ pleas, certainly be welcomed at the Qual- COMMENTS? [email protected]

August 20, 2007 | Crain’s New York Business | 25 nb34p26_27_28cls.qxp 8/16/07 1:59 PM Page 26

BUSINESS MANAGEMENT TELECOMMUNICATIONS PUBLIC & LEGAL NOTICES Business Management Services

Cash Management Services ● Bill Payment 1 CONVENT REALTY, LLC, a domestic Notice of Qualification of CGDO, LLC. Notice of Formation 441 East 57th Street LLC Tax & Financial Services ● Financing Assistance Limited Liability Company (LLC) filed with the Authority filed with NY Dept. of State on art. of org. filed Secy. of State NY (SSNY) (212) 631-9500 ● www.mayercpa.com EMERGENCY Sec of State of NY (SSNY) on 6/28/07. NY 6/15/07. Office location: NY County. Principal 10/31/05. Off. loc. in NY Co. SSNY designated COMMUNICATIONS office Location: NEW YORK County. SSNY is business address: 1266 E. Main St., 7th Fl., as agent of LLC upon whom process may be designated as agent upon whom process Stamford, CT 06902. LLC formed in Delaware served. SSNY shall mail copy of process to: Cash Management & CFO Services SYSTEMS against the LLC may be served. SSNY shall (DE) on 7/21/06. NY Secy. of State designated Flank Management LLC, Attn: Jonathan Kully, mail a copy of any process against the LLC as agent of LLC upon whom process against 548 West 28th Street, NY, NY 10022. Purpose: SPECIALISTS served upon him/her to MR. MICHAEL ARYEH, it may be served and shall mail process to: Any lawful purpose. BUSINESS SERVICES • FREE PICKUP & DELIVERY 619 WEST 54TH STREET, NEW YORK, NY CT Corporation System, 111 8th Ave., NY, NY 10019. General purposes. 10011. DE address of LLC: c/o The Corporation Notice of Qualification of Arnhold and S. • 48 HOUR Trust Co., 1209 Orange St., Wilmington, DE Bleichroeder Advisers Inc. Diversified TURNAROUND Notice of Qualification of D. E. Shaw AQ-SP 19801. Arts. of Org. filed with DE Secy. of International Equity Fund LLC, App. for Auth. ON REPAIRS Series 4-09, L.L.C. Authority filed with NY State, 401 Federal St., Dover, DE 19901. filed Sec'y of State (SSNY) 5/17/07. Office Dept. of State on 6/13/07. Office location: NY Purpose: any lawful activity. • FREE ENGRAVING location: NY County. LLC org. in DE 8/6/02. County. LLC formed in Delaware (DE) on SSNY designated as agent of LLC upon • SHORT & LONG 10/26/06. NY Secy. of State designated as Notice of Formation of BLUE SEA whom process against it may be served. TERM RENTALS agent of LLC upon whom process against it CONSTRUCTION CO. LLC. Arts. of Org. filed SSNY shall mail copy of process to Attn: may be served and shall mail process to: D. with Secy. of State of N.Y. (SSNY) on Mark Goldstein, 1345 Ave of the Americas, E. Shaw & Co., L.P., 120 W. 45th St., 39th Fl., 3/17/1999 as amended. Office location: NY NY, NY 10105. DE office addr.: c/o CTC, 1209 Tower 45, NY, NY 10036, Attn: Bertrand C. County. SSNY designated as agent of LLC The largest Motorola Dealer in NY State Orange St., Wilmington, DE 19801. Cert. of To place your classified Fry, General Counsel, registered agent upon upon whom process against it may be served. 307 Fifth Avenue, NY 10016 Form. on file: SSDE, Townsend Bldg., Dover, ad call John Gallagher whom process may be served. DE address of SSNY shall mail process to: Three Park Avenue, DE 19901. Purpose: any lawful activities. 212-532-7400 LLC: 1209 Orange St., Wilmington, DE 19801. NY, NY 10016. Purpose: any lawful activity. www.metrocomradio.com @ 212-210-0189 Arts. of Org. filed with DE Secy. of State, 401 Notice of Qualification of Blackstone Federal St., Dover, DE 19901. Purpose: any Notice of Qualification of CEA Autumn Mezzanine Capital Commitment Partners II lawful activity. Management, LLC, App. for Auth. filed L.P. Authority filed with NY Dept. of State Sec'y of State (SSNY) 5/11/07. Office location: on 6/1/07. Office location: NY County. REAL ESTATE Notice of Qualification of PVE Associates, LLC. NY County. LLC org. in DE 4/3/07. SSNY Principal business address: 345 Park Ave., Authority filed with Secy. of State of N.Y. designated as agent of LLC upon whom NY, NY 10154. LP formed in Delaware (DE) process against it may be served. SSNY OFFICE SPACE (SSNY) on 7/11/07. Office location: NY on 5/27/05. NY Secy. of State designated as County. Principal business location: 401 shall mail copy of process to 101 E. Kennedy agent of LP upon whom process against it Broadway, 24th Fl., NY, NY 10013. LLC Blvd., Ste. 3300, Tampa, FL 33602. DE office may be served and shall mail process to: addr.: c/o Corp. Creations Network, 1308 IMMEDIATE OFFICE SPACE formed in Delaware (DE) on 7/3/07. SSNY c/o CT Corporation System, 111 8th Ave., designated as agent of LLC upon whom Delaware Ave., Wilmington, DE 19806. Cert. of NY, NY 10011, registered agent upon whom Space by the day, week, month, year and even virtual. process against it may be served. SSNY shall Form. on file: SSDE, Townsend Bldg., Dover, process may be served. DE address of LP: mail process to: c/o Corporation Service DE 19901. Purpose: any lawful activities. c/o The Corporation Trust Co., 1209 Orange 212.573.0909 Company, 80 State St., Albany, NY 12207. DE VornadoFurnishedOffices.com Notice of Qualification of William Jennings St., Wilmington, DE 19801. Name/address address of LLC: 2711 Centerville Rd., Ste. of genl. ptr. available from NY Secy. of A 400, Wilmington, DE 19808. Arts. of Org. filed Bryan Group, LLC. Authority filed with NY 90 Park 909 Third 330 Madison 770 Broadway State. Cert. of LP filed with DE Secy. of COMPANY with DE Secy. of State, 401 Federal St., Ste. 4, Dept. of State on 6/22/07. Office location: NY County. LLC formed in New Jersey (NJ) on State, 401 Federal St., Dover, DE 19901. Dover, DE 19901. Purpose: any lawful activity. Purpose: any lawful activity. OFFICE SPACE 7/31/06. NY Secy. of State designated as agent of LLC upon whom process against it may be Notice of Qualification of D. E. Shaw CH-SP Notice of Qualification of Blackstone Real LUXURY Series 2-06 (C), L.L.C. Authority filed with NY served and shall mail process to: 39 Lexington Circle, Matawan, NJ 07747. NJ address of the Estate Acquisitions III L.L.C. Authority filed 212-947-5500 Dept. of State on 6/14/07. Office location: NY with NY Dept. of State on 6/1/07. Office PROPERTIES County. LLC formed in Delaware (DE) on LLC: 100 Canal Pointe Blvd., Ste. 108, FOR ALL OFFICE, RETAIL & LOFT SPACES Princeton, NJ 08540. Arts. of Org. filed with location: NY County. Principal business 5/24/06. NY Secy. of State designated as address: 345 Park Ave., NY, NY 10154. LLC New York City, Brooklyn, Queens agent of LLC upon whom process against it NJ State Treasurer, 225 W. State St., Trenton, 500–50,000 SF BERKSHIRES NJ 08608. Purpose: any lawful activity. formed in Delaware (DE) on 2/19/99. NY may be served and shall mail process to: D. Secy. of State designated as agent of LLC UNDER MARKET SUBLETS – NO FEE! E. Shaw & Co., L.P., 120 W. 45th St., 39th Fl., Search our listings @ www.midcomre.com 4 br, 2 ba Great Barrington home, 1+ acre. upon whom process against it may be served Twin parlors, country kitchen, sun room, Tower 45, NY, NY 10036, Attn: Bertrand C. Notice of Qualification of AG Diversified Call Paul 212 947-5500 x 100 Credit Strategies GP LLC. Authority filed with and shall mail process to: c/o CT Corporation summer LR, workshop, studio, playroom, Fry, General Counsel, registered agent upon System, 111 8th Ave., NY, NY 10011, whom process may be served. DE address of Secy. of State of N.Y. (SSNY) on 7/25/07. ideal entertaining/extended family. $549k. Office location: NY County. Principal business registered agent upon whom process may LLC: 1209 Orange St., Wilmington, DE 19801. be served. DE address of LLC: c/o The Brockman Real Estate, 413/528-4859 Arts. of Org. filed with DE Secy. of State, 401 location: 245 Park Avenue, 26th Fl., NY, NY www.newyorkbusiness.com Visit us at: www.berkshiresforsale.com 10167. LLC formed in Delaware (DE) on Corporation Trust Co., 1209 Orange St., Federal St., Dover, DE 19901. Purpose: any Wilmington, DE 19801. Arts. of Org. filed with lawful activity. 6/21/07. SSNY designated as agent of LLC upon whom process against it may be served. DE Secy. of State, 401 Federal St., Dover, DE 19901. Purpose: any lawful activity. Notice of Qualification of D. E. Shaw CAQ-SP SSNY shall mail process to: c/o Corporation PUBLIC & LEGAL NOTICES Series 2-01, L.L.C. Authority filed with NY Service Company (CSC), 80 State Street, Albany, NY 12207. DE address of LLC: c/o Notice of Qualification of Chickasaw Capital Dept. of State on 6/14/07. Office location: NY Management LLC, App. for Auth. filed Sec'y of County. LLC formed in Delaware (DE) on CSC, 2711 Centerville Road, Wilmington, THE WEINBERG AREYS COVE, LLC, a Notice of Formation of AJA Group, LLC. Arts. DE 19808. Arts. of Org. filed with DE Secy. State (SSNY) 4/3/07. Office location: NY County. domestic Limited Liability Company (LLC) of Org. filed with NY Dept. of State on 6/28/07. 6/9/06. NY Secy. of State designated as agent LLC org. in DE 5/29/03. SSNY designated as of LLC upon whom process against it may be of State, Townsend Bldg., Dover, DE 19901. filed with the Sec of State of NY (SSNY) on Office location: NY County. Secy. of State Purpose: any lawful activity. agent of LLC upon whom process against it 6/22/07. Office Location: NEW YORK County. designated as agent of LLC upon whom served and shall mail process to: D. E. Shaw may be served. SSNY shall mail copy of & Co., L.P., 120 W. 45th St., 39th Fl., Tower SSNY is designated as agent upon whom process against it may be served and shall Notice of Formation of EBQ EIS, LLC. Arts. of process to 277 West End Ave., NY, NY process against the LLC may be served. SSNY mail process to the principal business 45, NY, NY 10036, Attn: Bertrand C. Fry, 10023. DE office addr.: c/o CTC, 1209 General Counsel, registered agent upon Org. filed with NY Dept. of State on 4/2/07. shall mail a copy of any process against the address of the LLC: c/o CorpDirect Agents, Office location: NY County. Secy. of State Orange St., Wilmington, DE 19801. Cert. of LLC served upon him/her to THE LLC, 514 Inc., 225 W. 34th St., Ste. 910, NY, NY 10122, whom process may be served. DE address of Form. on file: SSDE, Townsend Bldg., Dover, LLC: 1209 Orange St., Wilmington, DE 19801. designated as agent of LLC upon whom EAST 89TH STREET, NEW YORK, NY 10128. registered agent upon whom process may process against it may be served and shall DE 19901. Purpose: any lawful activities. General purposes. be served. Purpose: any lawful activity. Arts. of Org. filed with DE Secy. of State, 401 Federal St., Dover, DE 19901. Purpose: mail process to the principal business address Notice of Qualification of First Eagle Value In any lawful activity. of the LLC: 1954 Flatbush Ave., Brooklyn, NY NOTICE OF FORMATION of Queen of Harlem Notice of Qualification of RCPI 30 ROCK 11234. Purpose: any lawful activity. Biotechnology Fund (QP), LP, App. for Auth. LLC. Arts. of Org. filed with Secy. of State of 22234849, L.L.C. Authority filed with Secy filed Sec'y of State (SSNY) 7/7/05. Office NY (SSNY) on 10/05/06. Office location: of State of NY (SSNY) on 06/18/07. Office Notice of Qualification of AGMB 400 Mineola, Notice of Qualification of Credit Suisse GTAA location: NY County. LP org. in DE 7/5/05. New York. SSNY designated as agent of LLC location: New York County. LLC formed in L.L.C. Authority filed with NY Dept. of State Global Macro Co-Investors, LP. Authority filed SSNY designated as agent of LP upon whom upon whom process against it may be Delaware (DE) on 06/05/07. SSNY designated on 7/5/07. Office location: NY County. LLC with Secy. of State of N.Y. (SSNY) on 7/11/07. process against it may be served. SSNY shall served. SSNY shall mail process to: Cinotti as agent of LLC upon whom process against formed in Delaware (DE) on 5/4/07. NY Secy. Office location: NY County. LP formed in mail copy of process to Attn: Daniel Declue, & Buck, 50 Broad Street, Ste. 1911, NY, NY it may be served. SSNY shall mail process of State designated as agent of LLC upon Delaware (DE) on 5/4/07. SSNY designated as 1345 Ave of the Americas, NY, NY 10105. DE 10004. Principal business location: 287 to: National Registered Agents, Inc., 875 whom process against it may be served and agent of LP upon whom process against it office addr.: c/o CSC, 2711 Centerville Rd., Edgecombe Ave., Ste. 1C, NY, NY 10031. Avenue of the Americas, Ste 501, New York, shall mail process to: c/o CT Corporation may be served. SSNY shall mail process Wilmington, DE 19808. Cert. of LP on file: Purpose: Any lawful act. NY 10001. NRAI is Registered Agent as well. System, 111 8th Ave., NY, NY 10011, to principal business location: c/o DLJ LBO SSDE, Townsend Bldg., Dover, DE 19901. Address required to be maintained in home registered agent upon whom process may be Plans Management Corporation, 11 Madison Name/addr. of each gen. ptr. avail. at SSNY. Notice of Qualification of Mount Daly Partners, jurisdiction: 160 Greentree Drive, Ste 101, served. DE address of LLC: The Corporation Ave., NY, NY 10010. DE address of LP: c/o Purpose: any lawful activities. LLC. Authority filed with Secy. of State of N.Y. Dover, DE 19904. Arts of Org filed with Secy Trust Co., 1209 Orange St., Wilmington, DE Corporation Service Co., 2711 Centerville Rd., (SSNY) on 7/6/07. Office location: NY County. of State, Div of Corporations, John G. 19801. Arts. of Org. filed with DE Secy. of Ste. 400, Wilmington, DE 19808. Name/address QUATTRO CONSTRUCTION MANAGEMENT, Principal business location: c/o Sopris Capital Townsend Bldg., Federal & Duke of York State, 401 Federal St., Dover, DE 19901. of each genl. ptr. available from SSNY. Cert. of LLC, a domestic Limited Liability Company Associates, LLC, 350 Park Ave., 24th Fl., NY, Streets, P.O. Box 898, Dover, DE 19903. Purpose: any lawful activity. LP filed with DE Secy. of State, 401 Federal St., (LLC). Articles of Organization filed with NY. LLC formed in Delaware (DE) on 5/31/07. Purpose: Any lawful purpose. Dover, DE 19901. Purpose: any lawful activity. Secretary of State on 5/29/07. NY Office SSNY designated as agent of LLC upon whom Notice of formation of STEPHEN R. RAMSAY location: NEW YORK County. Secretary of process against it may be served. SSNY shall Notice of Qualification of Chilton Strategic DMD, P.L.L.C. a NYS LLC Formation filed Notice of Qualification of Domino's Pizza State is designated as agent upon whom mail process to: c/o Corporation Service Value Partners II, L.P. Authority filed with NY with SSNY on 03/21/07. Off. Loc.: New Franchising LLC. Authority filed with NY process against the LLC may be served. Company, 80 State St., Albany, NY 12207. DE Dept. of State on 6/19/07. Office location: NY York Co. SSNY designated as agt. of LLC, Dept. of State on 3/22/07. Office location: Secretary of State shall mail a copy of any address of LLC: 2711 Centerville Rd., Ste. County. Principal business address: 1266 E. upon whom process may be served. SSNY NY County. Principal business address: 24 process against the LLC served upon 400, Wilmington, DE 19808. Arts. of Org. filed Main St., 7th Fl., Stamford, CT 06902. LP shall mail copy of process to: The LLC, 257 Frank Lloyd Wright Dr., Ann Arbor, MI him/her to DAVID LENEFSKY, ESQ., with DE Secy. of State, 401 Federal St., Ste. 4, formed in Delaware (DE) on 3/11/05. NY Secy. Lexington Avenue, New York, NY 10016. 48106. LLC formed in Delaware (DE) on 1 COLUMBUS PLACE, S48C, NEW YORK, Dover, DE 19901. Purpose: any lawful activity. of State designated as agent of LP upon whom Purpose: Any Lawful purposes. 3/2/07. NY Secy. of State designated as NY 10019. General purposes. process against it may be served and shall agent of LLC upon whom process against it Notice of Formation of Ascend TC, LLC. Arts. mail process to: c/o CT Corporation System, Notice of Formation of 554 East 82 LLC. Arts. may be served and shall mail process to: Notice of Formation of Henpecked LLC. Arts. of Org. filed with Secy. of State of N.Y. (SSNY) 111 8th Ave., NY, NY 10011, registered agent of Org. filed with Secy. of State of N.Y. (SSNY) c/o CT Corporation System, 111 8th Ave., of Org. filed with Secy. of State of N.Y. (SSNY) on 6/25/07. Office location: NY County. SSNY upon whom process may be served. DE on 7/10/07. Office location: NY County. SSNY NY, NY 10011, registered agent upon whom on 7/24/07. Office location: NY County. SSNY designated as agent of LLC upon whom address of LP: 1209 Orange St., Wilmington, designated as agent of LLC upon whom process may be served. DE address of LLC: designated as agent of LLC upon whom process process against it may be served. SSNY shall DE 19801. Name/address of each genl. ptr. process against it may be served. SSNY shall 1209 Orange St., Wilmington, DE 19801. against it may be served. SSNY shall mail mail process to: Corporation Service available from NY Secy. of State. Cert. of LP mail process to principal business location: Arts. of Org. filed with DE Secy. of State, process to principal business location: 99 Company, 80 State St., Albany, NY 12207. filed with DE Secy. of State, 401 Federal St., c/o The LLC, 151 E. 81st St., Ste. 1E, NY, NY 401 Federal St., Dover, DE 19901. Purpose: Suffolk St., NY, NY 10002. Purpose: any Purpose: any lawful activity. Dover, DE 19901. Purpose: any lawful activity. 10028. Purpose: any lawful activity. any lawful activity. lawful activity.

26 | Crain’s New York Business | August 20, 2007 nb34p26_27_28cls.qxp 8/16/07 2:00 PM Page 27

PUBLIC & LEGAL NOTICES

Notice of Qualification of CRP/Extell 99 West Notice of Formation of YA ASSOCIATES, LLC. NOTICE OF FORMATION of PowerPlays Notice of Qualification of Caminus Capital Notice of Qualification of Ameriflight, LLC. Side LLC. Authority filed with Secy. of State Arts. of Org. filed with Secy. of State of N.Y. Coaching, LLC. Arts. Of Org. filed with Secy. Partners, LLC, filed under the original name Authority filed with Secy. of State of N.Y. of NY (SSNY) on 3/22/07. Office location: (SSNY) on 7/13/1999. Office location: NY Of State of NY (SSNY) on 06/27/07. Office Rye-Vencil Capital, LLC, App. for Auth. filed (SSNY) on 6/28/07. Office location: NY NY County. LLC formed in Delaware (DE) County. SSNY designated as agent of LLC location: New York County. SSNY designated Sec'y of State (SSNY) 2/21/02. Office location: County. LLC formed in Nevada (NV) on on 3/6/07. SSNY designated as agent of upon whom process against it may be served. as agent of LLC upon whom process against NY County. LLC org. in DE 2/14/02. SSNY 5/11/05. SSNY designated as agent of LLC LLC upon whom process against it may be SSNY shall mail process to: Three Park Avenue, it may be served. SSNY shall mail process to: designated as agent of LLC upon whom upon whom process against it may be served. SSNY shall mail process to: c/o CT NY, NY 10016. Purpose: any lawful activity. The LLC, 2576 Broadway, #243, New York, process against it may be served. SSNY shall served. SSNY shall mail process to: c/o CT Corporation System, 111 Eighth Ave, NY, NY NY 10025. Purpose: any lawful activity. mail copy of process to Attn: Joseph W. Corporation System, 111 8th Ave., NY, NY 10011. Address to be maintained in DE: c/o Notice of Qualification of D. E. Shaw CF-SP Vencil, 51 W. 95th St., NY, NY 10025. DE 10011, registered agent upon whom process The Corporation Trust Company, 1209 Orange Series 5-08 (C), L.L.C. Authority filed with NY 45 STONE STREET LLC, a domestic Limited office addr.: c/o CSC, 2711 Centerville Rd., may be served. Principal office of LLC: 4700 St., Wilmington, DE 19801. Arts. of Org. Dept. of State on 6/14/07. Office location: NY Liability Company (LLC) filed with the Sec Wilmington, DE 19808. Cert. of Form. on file: Empire Ave., Burbank, CA 91505. Arts. of filed with DE Secy. Of State, 401 Federal County. LLC formed in Delaware (DE) on of State of NY (SSNY) on 4/14/05. NY SSDE, Townsend Bldg., Dover, DE 19901. Org. filed with NV Secy. of State, 202 North St., Ste 4., Dover, DE 19901. Purpose: any 12/19/06. NY Secy. of State designated as office Location: NEW YORK County. SSNY Purpose: any lawful activities. Carson St., Carson City, NV 89701. Purpose: lawful activities. agent of LLC upon whom process against it is designated as agent upon whom process all lawful purposes. may be served and shall mail process to: D. against the LLC may be served. SSNY shall Notice of Qualification of D. E. Shaw Composite Side Pocket Series 4, L.L.C. Authority filed Name of LLC: JR Grafik Design LLC. Arts. of E. Shaw & Co., L.P., 120 W. 45th St., 39th Fl., mail a copy of any process against the LLC Notice of Qualification of BREOF BNK2 New with NY Dept. of State on 6/14/07. Office Org. filed with NY Dept. of State on 5/31/2007. Tower 45, NY, NY 10036, Attn: Bertrand C. served upon him/her to THE LLC, 2221 York LLC. Authority filed with NY Dept. of location: NY County. LLC formed in Delaware Office location: NY County. Secy. of State Fry, General Counsel, registered agent upon ROYCE STREET, BROOKLYN, NY 11234. State on 8/1/07. Office location: NY County. (DE) on 9/20/06. NY Secy. of State designated designated as agent of LLC upon whom whom process may be served. DE address of General purposes. Principal business address: 3 World Financial as agent of LLC upon whom process against process against it may be served and shall LLC: 1209 Orange St., Wilmington, DE 19801. Ctr., 3rd Fl., NY, NY 10281. LLC formed in it may be served and shall mail process to: D. mail process to: c/o Business Filings Inc., Arts. of Org. filed with DE Secy. of State, 401 Notice of Formation of EAI Alternatives LLC. Delaware (DE) on 7/24/07. NY Secy. of State E. Shaw & Co., L.P., 120 W. 45th St., 39th Fl., 187 Wolf Rd., Ste. 101, Albany, NY 12205, Federal St., Dover, DE 19901. Purpose: any Arts. of Org. filed with NY Dept. of State on designated as agent of LLC upon whom Tower 45, NY, NY 10036, Attn: Bertrand C. registered agent upon whom process may be lawful activity. 5/14/07. Office location: NY County. Secy. of process against it may be served and shall Fry, General Counsel, registered agent upon served. Term: until 12/31/2047. Purpose: any State designated as agent of LLC upon mail process to: c/o CT Corporation System, whom process may be served. DE address of lawful activity. whom process against it may be served and 111 8th Ave., NY, NY 10011. DE address of NOTICE OF FORMATION OF HARMONEX LLC, LLC: 1209 Orange St., Wilmington, DE 19801. shall mail process to the principal business LLC: 1209 Orange St., Wilmington, DE 19801. Arts. Of Org. filed with SSNY on 03/08/01. Arts. of Org. filed with DE Secy. of State, 401 PHOENIX INVESTMENTS AND DEVELOPMENT address of the LLC: 5 E. 42nd St., NY, NY Arts. of Org. filed with DE Secy. of State, 401 Off. Loc.: NY County, SSNY designated as Federal St., Dover, DE 19901. Purpose: any LLC, a domestic Limited Liability Company 10017. Purpose: any lawful activity. Federal St., Dover, DE 19901. Purpose: any agent of LLC upon whom process against it lawful activity. (LLC) filed with the Sec of State of NY may be served. SSNY shall mail a copy of lawful activity. (SSNY) on 6/07/07. NY office Location: process to: The LLC, 161 Madison Ave., Notice of Formation of AEROSCAPE-NYC LLC. Arts. of Org. filed with Secy. of State of Notice of formation of Just In Title Agency, NEW YORK County. SSNY is designated as 12th/FL, NewYork, NY 10016. Purpose: to DAVID GUYER, LLC Articles of Org. filed NY N.Y. (SSNY) on 6/14/07. Office location: NY LLC. Arts. of Org. filed with the Secy. of State agent upon whom process against the LLC engage in any lawful act. Sec. of State (SSNY) 5/1/07. Office in NY Co. may be served. SSNY shall mail a copy of County. SSNY designated as agent of LLC of NY (SSNY) on 7/3/07. Office location: New upon whom process against it may be SSNY desig. agent of LLC upon whom any process against the LLC served upon Notice of Qualification of Chester 11 Park York. SSNY designated as agent of LLC upon served. SSNY shall mail process to: DLA process may be served. SSNY shall mail copy him/her to DESENA & ASSOCIATES, LLP, Avenue, L.L.C. Authority filed with Secy. of whom process against it may be served. Piper US LLP, 1251 Avenue of the Americas, of process to 279 Central Park W., #16B, NY, 225 BROADWAY, STE. 901, NEW YORK, NY State of N.Y. (SSNY) on 5/22/07. Office SSNY shall mail process to Principal business NY, NY 10020, Attn: Xavier Jones. Purpose: NY 10024. Purpose: Any lawful purpose. 10007. General purposes. location: NY County. LLC formed in Delaware location: 280 Madison Ave., Suite 705B, NY, any lawful activity. NY 10016. Purpose: Any lawful act. (DE) on 5/18/07. SSNY designated as agent Notice of Qualification of DB Midtown TDR Notice of Qualification of D. E. Shaw Alloy of LLC upon whom process against it may be LLC. Authority filed with NY Dept. of State on Power Acquisition Holdings, L.L.C. Authority served. SSNY shall mail process to: c/o The Notice of Qualification of Arden Institutional Notice of Qualification of Perseus Market Advisers II MS Feeder, L.P., App. for Auth. filed Opportunity Management, L.L.C. Authority 12/26/06. Office location: NY County. LLC filed with NY Dept. of State on 6/14/07. Office Cheshire Group L.L.C., 475 Fifth Ave., 12th formed in Delaware (DE) on 12/11/06. NY location: NY County. LLC formed in Delaware Fl., NY, NY 10017, Attn: Ms. Susan Hewitt. Sec'y of State (SSNY) 5/18/07. Office location: filed with NY Dept. of State on 7/18/07. Office NY County. LP org. in DE 4/16/07. SSNY location: NY County. Principal business Secy. of State designated as agent of LLC (DE) on 3/30/06. NY Secy. of State designated DE address of LLC: United Corporate Services, upon whom process against it may be served as agent of LLC upon whom process against Inc., 874 Walker Rd., Ste. C, Dover, DE designated as agent of LP upon whom address: 2099 Pennsylvania Ave., NW, Ste. process against it may be served. SSNY shall 900, Washington, DC 20006. LLC formed in and shall mail process to: 1345 Ave. of the it may be served and shall mail process to: D. 19904. Arts. of Org. filed with DE Secy. of Americas, 46th Fl., NY, NY 10105, principal E. Shaw & Co., L.P., 120 W. 45th St., 39th Fl., State, 401 Federal St., Ste. 4, Dover, DE mail copy of process to Attn: Averell H. Delaware (DE) on 10/2/01. NY Secy. of State Mortimer, 375 Park Ave., 32nd Fl., NY, NY designated as agent of LLC upon whom business address of the LLC. DE address of Tower 45, NY, NY 10036, Attn: Bertrand C. 19901. Purpose: any lawful activity. LLC: National Corporate Research, Ltd., 615 Fry, General Counsel, registered agent upon 10152. DE office addr.: c/o CSC, 2711 process against it may be served and shall Centerville Rd., Wilmington, DE 19808. Cert. S. DuPont Hwy., Dover, DE 19901. Cert. of whom process may be served. DE address of Notice of Qualification of EB Personal Risk mail process to: c/o CT Corporation System, of LP on file: SSDE, Townsend Bldg., Dover, 111 8th Ave., NY, NY 10011, registered agent Form. filed with DE Secy. of State, Div. of LLC: 1209 Orange St., Wilmington, DE 19801. Management Solutions, LLC. Authority filed Corps., Townsend Bldg., Dover, DE 19901. Arts. of Org. filed with DE Secy. of State, 401 DE 19901. Name/addr. of each gen. ptr. avail. upon whom process may be served. DE with NY Dept. of State on 4/20/07. Office at SSNY. Purpose: any lawful activities. Purpose: any lawful activity. Federal St., Dover, DE 19901. Purpose: any location: NY County. LLC formed in Delaware address of LLC: 1209 Orange St., Wilmington, lawful activity. (DE) on 3/2/07. NY Secy. of State designated DE 19801. Arts. of Org. filed with DE Secy. of Notice of Qualification of Battery Park High Notice of Qualification of GE Westbury Holding as agent of LLC upon whom process against State, 401 Federal St., Dover, DE 19901. Yield Opportunity Fund, L.P., App. for Auth. LLC. Authority filed with Secy. of State of N.Y. it may be served and shall mail process to: c/o Purpose: all lawful purposes. Notice of Qualification of Normandy NV filed Sec'y of State (SSNY) 6/4/01. Office (SSNY) on 7/11/07. Office location: NY Westchester Owner, LLC. Authority filed with CT Corporation System, 111 8th Ave., NY, NY location: NY County. LP org. in DE 5/30/01. IN THE US DIST. COURT FOR THE NORTHERN County. LLC formed in Delaware (DE) on Secy. of State of N.Y. (SSNY) on 6/29/07. 10011, registered agent upon whom process SSNY designated as agent of LP upon DIST. OF ILL. FREDERICK KAUFMANN Plaintiff 7/10/07. SSNY designated as agent of LLC Office location: NY County. LLC formed in may be served. Principal business address: 6 whom process against it may be served. v. RONALD KUZON et al. Defendants, 07 C upon whom process against it may be served. Delaware (DE) on 6/12/07. SSNY designated E. 42nd St., NY, NY 10017. Arts. of Org. filed SSNY shall mail copy of process to 2 World 1633 To: Ronald Kuzon and Joshua Kuzon, SSNY shall mail process to: c/o JPMorgan as agent of LLC upon whom process against with DE Secy. of State, Townsend Bldg., Financial Ctr., Bldg. B, NY, NY 10281. DE Defendants for service by publication. TAKE Chase Bank, Attn: Diane McGuire, 345 Park it may be served. SSNY shall mail process to: Dover, DE 19901. Purpose: any lawful activity. office addr.: c/o CSC, 2711 Centerville Rd., NOTICE that Plaintiff, Frederick Kaufmann, has Ave., 8th Fl., NY, NY 10154. DE address of c/o CT Corporation System, 111 8th Ave., NY, Wilmington, DE 19808. Cert. of LP on file: filed a Summons and Complaint seeking relief LLC: Corporation Service Company, 2711 NY 10011, registered agent upon whom Notice of Qualification of DB SAM LLC. SSDE, Townsend Bldg., Dover, DE 19901. in this case. The case alleges violations of Centerville Rd., Ste. 400, Wilmington, DE process may be served. DE address of LLC: Authority filed with NY Dept. of State on 7/5/07. Name/addr. of each gen. ptr. avail. at SSNY. securities law. You must answer this 19808. Arts. of Org. filed with DE Secy. of c/o The Corporation Trust Company, 1209 Office location: NY County. LLC formed in Purpose: any lawful activities. complaint no later than twenty days after State, 401 Federal St., Ste. 4, Dover, DE Orange St., Wilmington, DE 19801. Arts. of Delaware (DE) on 6/28/07. NY Secy. of State 19901. Purpose: any lawful activity. Org. filed with DE Secy. of State, 401 Federal designated as agent of LLC upon whom process Notice of Qualification of Dunlop General final publication of this notice. Upon failure St., Ste. 4, Dover, DE 19901. Purpose: real against it may be served and shall mail process Partner, LLC, App. for Auth. filed Sec'y of to do so, Plaintiff will seek default judgment. estate investment. to: 1345 Ave. of the Americas, 46th Fl., NY, NY Contact Plaintiff’s Attorney: Enterprise Law Notice of Qualification of Granite Companies State (SSNY) 7/29/04. Office location: NY LLC. Authority filed with Secy. of State of 10105, principal business address of the LLC. County. LLC org. in DE 7/28/04. SSNY Group, LLP; 70 W. Madison, #740, Chicago, Notice of formation of DaniCon Pharma DE address of LLC: The Corporation Trust Co., IL 60602; 312-578-0200; 312-578-0202; NY on 01/24/06. Office loc.: NY Co. LLC designated as agent of LLC upon whom formed in Delaware (DE) on 11/07/03. SSNY Consulting, LLC. LLC articles were filed with the 1209 Orange St., Wilmington, DE 19801. Arts. process against it may be served. SSNY Firm ID 40994 Sec. of State of New York (SSNY) on 6/14/07. of Org. filed with DE Secy. of State, Div. of designated as agent upon whom process shall mail copy of process to 39 Broadway, against it may be served and shall mail N.Y. Office location: NY County. SSNY has Corps., Townsend Bldg., Dover, DE 19901. 36th Fl., NY, NY 10006. DE office addr.: c/o D BOBER, LLC, a domestic Limited Liability been designated as agent upon whom process Purpose: any lawful activity. Company (LLC) filed with the Sec of State of process to the principal business address of CSC, 2711 Centerville Rd., Wilmington, DE the LLC: 214 W. 39th Street, NY, NY 10008. against it may be served. SSNY shall process 19808. Cert. of Form. on file: SSDE, Townsend NY (SSNY) on 6/04/07. Office Location: NEW to principal business address : The LLC, 207 Notice of Qualification of CHANNEL YORK County. SSNY is designated as agent DE address of LLC: c/o The Corporation Bldg., Dover, DE 19901. Purpose: any lawful Trust Co., 1209 Orange St., Wilmington, DE West 98th St., #2AA, New York, NY 10025. PARTNERS, LP. Authority filed with Secy. of activities. upon whom process against the LLC may be Purpose: any lawful activity. State of N.Y. (SSNY) on 12/24/01. Office served. SSNY shall mail a copy of any process 19801. Cert. of Form. filed with DE Secy. of location: NY County. LP formed in Delaware against the LLC served upon him/her to DAVID State, 401 Federal St., Dover, DE 19901. Notice of Qualification of BMOF I LLC, App. Purpose: any lawful activity. Notice of Qualification of R.M. Sincerbeaux (DE) on 12/10/01. SSNY designated as for Auth. filed Sec'y of State (SSNY) 12/3/04. BOBER, 260 WEST 54TH STREET, 39E, NEW Capital Management, LLC, App. for Auth. filed agent of LP upon whom process against it Office location: NY County. LLC org. in DE YORK, NY 10019. General purposes. Sec'y of State (SSNY) 4/11/07. Office location: may be served. SSNY shall mail process to: 11/30/04. SSNY designated as agent of LLC Notice of Qualification of GS Employee Fund NY County. LLC org. in DE 4/10/07. SSNY The LP, 153 E. 53rd St., 48th Fl., NY, NY 10022. upon whom process against it may be served. Notice of Formation of MG Retail LLC. Arts. of 2000 Offshore (Corporate), L.P. Authority filed designated as agent of LLC upon whom DE address of LP: 15 East North St., Dover, SSNY shall mail copy of process to 345 Org. filed with Secy. of State of NY on 08/26/05. with Secy. of State of N.Y. (SSNY) on 5/16/07. process against it may be served. SSNY shall DE 19901. Name/address of each genl. ptr. Park Ave., NY, NY 10154. DE office addr.: Office loc.: NY Co. SSNY designated as Office location: NY County. LP formed in mail copy of process to Attn: Richard M. available from SSNY. Cert. of LP filed with DE c/o CSC, 2711 Centerville Rd., Wilmington, agent upon whom process against it may Cayman Islands (CI) on 8/1/00. SSNY Sincerbeaux, 525 E. 72nd St., Apt. 39H, NY, Secy. of State, PO Box 898, Dover, DE 19903. DE 19808. Cert. of Form. on file: SSDE, be served and shall mail process to: the designated as agent of LP upon whom process NY 10021. DE office addr.: c/o CSC, 2711 Purpose: any lawful activity. Townsend Bldg., Dover, DE 19901. Purpose: LLC, 214 W. 39th Street, NY, NY 10008. against it may be served. SSNY shall mail Centerville Rd., Wilmington, DE 19808. Cert. of any lawful activities. Purpose: any lawful activity process to: 85 Broad St., NY, NY 10004. CI Form. on file: SSDE, Townsend Bldg., Dover, Notice of Qualification of Traxis Emerging address of LP: c/o M & C Corporate Services DE 19901. Purpose: any lawful activities. Markets Opportunities Onshore Fund GP LLC. Notice of Qualification of D. E. Shaw AQ-SP Notice of Qualification of Municipal Real Estate Ltd., P.O. Box 309GT, Ugland House, South Authority filed with Secy. of State of N.Y. Series 3-06, L.L.C. Authority filed with NY Holdings, LLC. Authority filed with Secy. of Church St., George Town, Grand Cayman, CI, Notice of Qualification of Blackstone (SSNY) on 6/25/07. Office location: NY Dept. of State on 6/13/07. Office location: NY State of N.Y. (SSNY) on 6/11/07. Office location: BWI. Name/address of each genl. ptr. available Customized Commodities Master Fund II L.P., County. Principal business location: 600 Fifth County. LLC formed in Delaware (DE) on NY County. Principal business location: 2929 from SSNY. Cert. of LP filed with Registrar of App. for Auth. filed Sec'y of State (SSNY) Ave., 20th Fl., NY, NY 10020. LLC formed in 7/18/06. NY Secy. of State designated as Arch St., 17th Fl., Philadelphia, PA 19104. LLC Exempted LPs, Elizabethan Sq., 4th Fl., Phase 3/14/07. Office location: NY County. LP org. in Delaware (DE) on 4/30/07. SSNY designated agent of LLC upon whom process against it formed in Delaware (DE) on 4/23/07. SSNY Four, George Town, Grand Cayman, CI. DE 3/13/07. SSNY designated as agent of LP as agent of LLC upon whom process against may be served and shall mail process to: D. designated as agent of LLC upon whom Purpose: any lawful activity. upon whom process against it may be served. it may be served. SSNY shall mail process to: E. Shaw & Co., L.P., 120 W. 45th St., 39th Fl., process against it may be served. SSNY shall SSNY shall mail copy of process to Attn: J. c/o Corporation Service Company (CSC), 80 Tower 45, NY, NY 10036, Attn: Bertrand C. mail process to: c/o Corporation Service Notice of Formation of Pinky Wolman Designs Tomilson Hill, 345 Park Ave., NY, NY 10154. State St., Albany, NY 12207, registered agent Fry, General Counsel, registered agent upon Company (CSC), 80 State St., Albany, NY LLC, Art. of Org. filed Sec'y of State (SSNY) DE office addr.: c/o CSC, 2711 Centerville Rd., upon whom process may be served. DE whom process may be served. DE address of 12207. DE address of LLC: c/o CSC, 2711 7/25/07. Office location: NY County. SSNY Wilmington, DE 19808. Cert. of LP on file: address of LLC: CSC, 2711 Centerville Road, LLC: 1209 Orange St., Wilmington, DE 19801. Centerville Rd., Wilmington, DE 19808. Arts. designated as agent of LLC upon whom SSDE, Townsend Bldg., Dover, DE 19901. Wilmington, DE 19808. Cert. of Form. filed Arts. of Org. filed with DE Secy. of State, 401 of Org. filed with DE Secy. of State, 401 process against it may be served. SSNY shall Name/addr. of each gen. ptr. avail. at SSNY. with DE Secy. of State, Townsend Bldg., Dover, Federal St., Dover, DE 19901. Purpose: any Federal St., Ste. 4, Dover, DE 19901. mail copy of process to 15 Park Ave., #11A, Purpose: any lawful activities. DE 19901. Purpose: any lawful activity. lawful activity. Purpose: any lawful activity. NY, NY 10016. Purpose: any lawful activities.

August 20, 2007 | Crain’s New York Business | 27 nb34p26_27_28cls.qxp 8/16/07 3:23 PM Page 28

PUBLIC & LEGAL NOTICES

Notice of Formation of National Specialty Notice of Qualification of Merrill Lynch Notice of Qualification of AIREA Capital, LLC. Notice of Formation of LK 530 LLC. Arts. of Notice of Formation of Impark Cadman LLC. Publications L.L.C. Arts. of Org. filed with Secy. Purchase Price Investment LLC. Authority Authority filed with Secy. of State of N.Y. Org. filed with Secy. of State of N.Y. (SSNY) Arts. of Org. filed with Secy. of State of NY of State of NY (SSNY) on 6/01/2007. Office filed with NY Dept. of State on 7/27/07. Office (SSNY) on 6/18/07. Office location: NY County. on 7/18/07. Office location: NY County. (SSNY) on 3/3/06. Office location: NY County. location: New York County. SSNY designated location: NY County. LLC formed in Delaware Principal business location: 115 Broadway, Principal business location: 737 Park Ave., NY, SSNY designated as agent of LLC upon whom as agent of LLC upon whom process against (DE) on 6/26/07. NY Secy. of State designated Ste. 403, NY, NY 10006. LLC formed in NY 10021. SSNY designated as agent of LLC process against it may be served and shall it may be served. SSNY shall mail process as agent of LLC upon whom process against Delaware (DE) on 4/30/07. SSNY designated upon whom process against it may be served. mail process to: c/o CT Corporation System, to: National Specialty Publications LLC, 425 it may be served and shall mail process to: as agent of LLC upon whom process against it SSNY shall mail process to: c/o Corporation 111 8th Ave., NY, NY 10011, registered agent Fifth Ave. Apt.# 46A New York, New York 225 Liberty St., 2 World Financial Center, may be served. SSNY shall mail process to: Service Company, 80 State St., Albany, NY upon whom process may be served. Purpose: 10016. Purpose: any lawful activity. South Tower, 7th Fl., NY, NY 10281, principal c/o Corporation Service Company, 80 State 12207. Purpose: any lawful activity. any lawful activity. business address of the LLC. DE address of St., Albany, NY 12207. DE address of LLC: NOTICE OF QUALIFICATION OF Clerestory LLC: The Corporation Trust Co., 1209 Orange 2711 Centerville Rd., Ste. 400, Wilmington, DE Notice of Qualification of North Hill Holding Notice of Qualification of Och-Ziff Real Estate Capital Advisors LLC. Application for Authority St., Wilmington, DE 19801. Arts. of Org. filed 19808. Arts. of Org. filed with DE Secy. of of New York, LLC. Authority filed with NY Management, L.L.C. Authority filed with NY filed with the Secy. of State of New York (SSNY) with DE Secy. of State, P.O. Box 898, Dover, State, Townsend Bldg., Dover, DE 19901. Dept. of State on 8/3/07. Office location: NY Dept. of State on 5/29/07. Office location: NY on 4/12/07. N.Y. Office Location: New York DE 19903. Purpose: any lawful activity. Purpose: any lawful activity. County. LLC formed in Delaware (DE) on County. Principal business address: 9 W. County. LLC formed in Delaware on January 5, 7/16/07. NY Secy. of State designated as 57th St., NY, NY 10019. LLC formed in 2007. SSNY has been designated as agent of NOTICE OF FORMATION OF LIMITED LIABILITY Notice of Qualification of TA Operating LLC. agent of LLC upon whom process against it Delaware (DE) on 11/14/03. NY Secy. of LLC upon whom process against it may be COMPANY. NAME: NEWTON INTERNATIONAL Authority filed with Secy. of State of N.Y. may be served and shall mail process to State designated as agent of LLC upon whom served and shall mail process to the principal LLC. Articles of Organization were filed with (SSNY) on 6/13/2007. Fictitious name in NY the principal business address of the LLC: process against it may be served and shall business address of the LLC: 11 East 44th the Secretary of State of New York (SSNY) State: TCA Operating LLC. Office location: 51 E. 42nd St., Ste. 300, NY, NY 10017. DE mail process to: c/o CT Corporation System, Street, Suite 1603, New York, NY 10017. DE on 04/06/07. Office location: New York County. NY County. Principal business location: address of LLC: c/o The Corporation Trust 111 8th Ave., NY, NY 10011, registered agent address of LLC: 2711 Centerville Rd., STE SSNY has been designated as agent of the 24601 Center Ridge Rd., Westlake, OH 44145. Co., 1209 Orange St., Wilmington, DE 19801. upon whom process may be served. DE 400, Wilmington, DE 19808. Arts. of Org. filed LLC upon whom process against it may be LLC formed in Delaware (DE) on 7/8/1993. Arts. of Org. filed with DE Secy. of State, address of LLC: The Corporation Trust Co., with DE Secy. of State, Division of Corporations, served. SSNY shall mail a copy of process to SSNY designated as agent of LLC upon 401 Federal St., Dover, DE 19901. Purpose: 1209 Orange St., Wilmington, DE 19801. 401 Federal Street, Suite 4, Dover, DE 19901. the LLC, c/o Newton Hotel, 2528 Broadway, whom process against it may be served. any lawful activity. Arts. of Org. filed with DE Secy. of State, Purpose: any lawful activities. New York, New York 10025, ATTN: Linda SSNY shall mail process to: 400 Centre St., Townsend Bldg., Dover, DE 19901. Talbert and John Pouliot. Purpose: For any Newton, MA 02458. DE address of LLC: Notice of Qualification of Investor Education Purpose: any lawful activity. Notice of Qualification of El-Ad 250 West LLC. lawful purpose. 1209 Orange St., Wilmington, DE 19801. Collaborative, LLC, App. for Auth. filed Sec'y Authority filed with NY Dept. of State on Arts. of Org. filed with DE Secy. of State, of State (SSNY) 4/16/04. Office location: Notice of Formation of Olmstead 315 LLC. 6/15/06. Office location: NY County. LLC Name of LLC: Vegasoul Capital Management, 401 Federal St., Ste. 4, Dover, DE 19901. NY County. LLC org. in DE 4/1/04. SSNY Arts. of Org. filed with Secy. of State of N.Y. formed in Delaware (DE) on 5/18/06. NY Secy. LLC. Authority filed with NY Dept. of State on Purpose: any lawful activity. designated as agent of LLC upon whom (SSNY) on 7/18/07. Office location: NY of State designated as agent of LLC upon 6/27/07. Office location: NY County. LLC process against it may be served. SSNY County. SSNY designated as agent of LLC whom process against it may be served and formed in Delaware (DE) on 2/21/07. NY Secy. Notice of Formation of 159 West 24th Partners shall mail copy of process to 17 State St., upon whom process against it may be served. shall mail process to the principal business of State designated as agent of LLC upon LLC. Arts. of Org. filed with Secy. of State of NY, NY 10004. DE office addr.: c/o CSC, SSNY shall mail process to principal business address of the LLC: c/o The El-Ad Group Ltd., whom process against it may be served and N.Y. (SSNY) on 5/29/07. Office location: NY 2711 Centerville Rd., Wilmington, DE 19808. location: c/o Olmstead Properties, Inc., 575 575 Madison Ave., 22nd Fl., NY, NY 10022, shall mail process to: c/o Business Filings Inc., County. SSNY designated as agent of LLC Cert. of Form. on file: SSDE, Townsend 8th Ave., Ste. 2400, NY, NY 10018. Purpose: registered agent upon whom process may be 187 Wolf Rd., Ste. 101, Albany, NY 12205, upon whom process against it may be served. Bldg., Dover, DE 19901. Purpose: any any lawful activity. served. DE address of LLC: The Corporation registered agent upon whom process may be SSNY shall mail process to: c/o 159 West lawful activities. Trust Co., 1209 Orange St., Wilmington, DE served. DE address of LLC: 108 W. 13th 24th Street Management LLC, Attn: Eric S. Notice of Formation of MATTERMINDS 19801. Arts. of Org. filed with DE Secy. of St., Wilmington, DE 19801. Arts. of Org. filed Gray, 900 Broadway, Ste. 402, NY, NY 10003. Name of Foreign LLC: Helmut Lang LLC (Fict. SEARCH LLC. Arts. of Org. filed with the State, 401 Federal St., Dover, DE 19901. with DE Secy. of State, 401 Federal St., Dover, Purpose: all lawful purposes. Name: Helmut Lang New York LLC). Appl. for Secy. of State of NY (SSNY) on 7/19/07. Purpose: any lawful activity. DE 19901. Purpose: any lawful act. Auth. filed NY Dept. of State: 6/27/07. Jurisd. Office location: NY County. SSNY designated Notice of Qualification of Asharoken Capital and date of org.: DE 3/13/06. County off. loc.: as agent of LLC upon whom process against Fund LP. Authority filed with Secy. of State of New York County. Princ. bus. loc.: 38 Name of LLC: Regal Digital LLC. Arts. of Org. Notice of Qualification of Moi-Meme Attire, it may be served and shall mail process to: N.Y. (SSNY) on 4/18/07. Office location: NY Gansevoort St., NY, NY 10014. Sec. of State filed with Secy. of State of NY (SSNY) on LLC Authority filed with Sec of State of The LLC, 173 East 74 th Street, 3A, New York, County. LP formed in Delaware (DE) on 4/13/07. designated as agent of foreign LLC upon 1/25/2006. Office location: NY County. SSNY NY (SSNY) on 6/7/07. Office location: NY NY 10021. Purpose: any lawful activity. SSNY designated as agent of LP upon whom whom process may be served. The Sec. of designated as agent of LLC upon whom County. LLC formed in Delaware (DE) on process against it may be served. SSNY shall State shall mail copy of process to the LLC: process against it may be served and shall 2/13/07. SSNY has been designated as Notice of Formation of Michael Andrews mail process to: 801 Second Ave., 8th Fl., NY, 38 Gansevoort St., NY, NY 10014. Addr. of mail process to: c/o Andy Ranley, 128 W. 75th agent upon process against it may be served. LLC, Art. of Org. filed Sec'y of State (SSNY) NY 10022. DE address of LP: Corporation foreign LLC in DE is: c/o National Corporate St., Ste. 4B, NY, NY 10023, registered agent SSNY shall mail process to: C/O the LLC, 3/14/06. Office location: NY County. SSNY Trust Center, 1209 Orange St., Wilmington, DE Research, Ltd., 615 South DuPont Hwy., upon whom process may be served. Term: Business Filings Inc, 108 W 13th St, designated as agent of LLC upon whom 19801. Name/address of each genl. ptr. Dover, DE 19901. Auth. office in DE where until 12/31/2046. Purpose: any lawful activity. Wilmington, DE 19801. Principal business process against it may be served. SSNY available from SSNY. Cert. of LP filed with Cert. of Form. filed: Sec. of State of DE, John address: 130 7th Ave., No 340, NY, NY 10011. shall mail copy of process to Michael Brian DE Secy. of State, P.O. Box 898, Dover, DE G. Townsend Bldg., Dover, DE 19901. SUSAN TEEGER MEDICAL PRACTICE, PLLC Purpose: any lawful purpose. Mantegna, 90 Clinton St., Ste. 2H, NY, NY 19903. Purpose: all lawful purposes. Purpose: any lawful activity. Articles of Org. filed NY Sec. of State (SSNY) 10002. Purpose: any lawful activities. 5/16/07. Office in NY Co. SSNY desig. agent Notice of Qualification of GS LVB Advisors, Notice of Qualification of Lanexa Global Notice of Qualification of Embassy House of LLC upon whom process may be served. NOTICE OF QUALIFICATIONS OF West L.L.C. Authority filed with Secy. of State of N.Y. Management, LP, filed under the original name Owner LLC. Authority filed with Secy. of State SSNY shall mail copy of process to c/o Monroe Partners LLC. Articles of Organization (SSNY) on 5/31/07. Office location: NY County. Camber Global Management, LP, App. for of N.Y. (SSNY) on 7/18/07. Office location: NY Newhouse & Shey LLP, 3 W. 35th St., 9th Fl., filed with the Secretary of State of New York LLC formed in Delaware (DE) on 2/28/07. Auth. filed Sec'y of State (SSNY) 5/5/06. Office County. LLC formed in Delaware (DE) on NY, NY 10001. Purpose: To practice medicine on May 18, 2007. N.Y. Office Location: New SSNY designated as agent of LLC upon whom location: NY County. LP org. in DE 4/10/06. 7/16/07. SSNY designated as agent of LLC York County. LLC formed in Delaware on April process against it may be served. SSNY shall SSNY designated as agent of LP upon whom upon whom process against it may be served. 17, 2002 SSNY has been designated as agent NOTICE OF FORMATION of iRolls Multimedia mail process to: 85 Broad St., NY, NY 10004. process against it may be served. SSNY shall SSNY shall mail process to principal office of LLC upon process against it may be LLC. Arts. of Org filed with Secy. of State of DE address of LLC: 1209 Orange St., Wilmington, mail copy of process to 101 Park Ave., 21st address of LLC: c/o National Registered served. The P.O. address to which the SSNY N.Y. (SSNY) on 6/14/06. Office location: NY DE 19801. Cert. of Form. filed with DE Secy. Fl., NY, NY 10178. DE office addr.: c/o CTC, Agents, Inc., 875 Ave. of the Americas, shall mail a copy of any process against the County. SSNY designated as agent of LLC of State, P.O. Box 898, Dover, DE 19903. 1209 Orange St., Wilmington, DE 19801. Cert. Ste. 501, NY, NY 10001, the registered LLC served upon him/her is C/O the LLC: 175 upon whom process against it may be Purpose: any lawful activity. of LP on file: SSDE, Townsend Bldg., Dover, agent upon whom process may be served. W. Jackson Blvd. Suite 2200, Chicago IL served. SSNY shall mail process to: iRolls DE 19901. Name/addr. of each gen. ptr. avail. Arts. of Org. filed with DE Secy. of State, 60604. The Principal Business Address of the LLC, 58 W 56th St. #3, NY, NY 10019. Notice of Formation of 4SK - 24 St. Marks at SSNY. Purpose: any lawful activities. 401 Federal St., Ste. 4, Dover, DE 19901 Purpose: any lawful activity. LLC. Arts. of Org. filed with NY Dept. of State Purpose: real estate investment. LLC is: 175 W. Jackson Blvd. Suite 2200, on 1/18/07, as amended. Office location: NY Notice of Qualification of I-DONTICS, LLC. Chicago IL 60604. Dissolution date N/A. Name: BROADWAY 41 LLC Art. Of Org. Filed County. Secy. of State designated as agent of Authority filed with Secy. of State of N.Y. Notice of Formation of Royal Field Management Purpose of LLC: Full service technology and Sec. Of State of NY 5/3/07. Off. Loc.: New LLC upon whom process against it may be (SSNY) on 6/12/07. Office location: NY Company LLC. Arts. of Org. filed with Secy. business consulting firm. York. Co. SSNY designated as agent upon served and shall mail process to: Daihwan County. Principal business location: 532 Park of State of N.Y. (SSNY) on 11/17/06. Office whom process against it may be served. Choi, 636 6th Ave., Ste. 370, NY, NY 10011, Ave., NY, NY 10065. LLC formed in Delaware location: NY County. SSNY designated as Notice of Qualification of Insight Venture SSNY to mail copy of process to The LLC principal business address of the LLC. (DE) on 4/25/07. SSNY designated as agent agent of LLC upon whom process against it Partners VI (Co-Investors), L.P. Authority filed C/CO Bernath & Rosenberg 1430 Broadway, Purpose: any lawful activity. of LLC upon whom process against it may be may be served. SSNY shall mail process to: with Secy. of State of NY (SSNY) on 7/11/07. 13th Flr. , NY, NY 10018. Purpose: Any served. SSNY shall mail process to: c/o Royal Field, LLC, 164 W. 128 St., Ste. 1C, Office location: NY County. LP formed in lawful activity. Notice of Qualification of Stadia Capital Corporation Service Company (CSC), 80 State NY, NY 10027. Purpose: any lawful activity. Delaware (DE) on 3/29/07. SSNY designated Partners (QP), L.P. Authority filed with Secy. St., Albany, NY 12207. DE address of LLC: c/o as agent of LP upon whom process against it Notice of Qualification of D. E. Shaw CH-SP of State of NY (SSNY) on 5/1/01. Office CSC, 2711 Centerville Rd., Ste. 400, Notice of Qualification of Seidman Private may be served. SSNY shall mail process to: Series 5-01 (C), L.L.C. Authority filed with NY location: NY County. LP formed in Delaware Wilmington, DE 19808. Arts. of Org. filed with Advisors, LLC. Authority filed with Secy. of c/o National Registered Agents, Inc., 875 Dept. of State on 6/14/07. Office location: NY (DE) on 4/27/01. SSNY designated as agent DE Secy. of State, PO Box 898, Dover, DE State of N.Y. (SSNY) on 7/24/07. Office Avenue of the Americas., Ste. 501, NY, NY County. LLC formed in Delaware (DE) on of LP upon whom process against it may be 19903. Purpose: any lawful activity. location: NY County. LLC formed in Delaware 10001, also registered agent. DE address of 12/19/06. NY Secy. of State designated as served and shall mail process to: 140 E. (DE) on 4/21/04. SSNY designated as agent LP: 1209 Orange St., Wilmington, DE 19801. agent of LLC upon whom process against it 45th St., 31st Fl., NY, NY 10017. DE address NOTICE OF FORMATION OF LIMITED of LLC upon whom process against it may Name/address of genl. ptr. available from may be served and shall mail process to: D. of the LP: c/o Corporation Service Co., 2711 LIABILITY COMPANY. NAME: SUSHI-A- be served. SSNY shall mail process to: c/o SSNY. Cert. of LP filed with DE Secy. of State, E. Shaw & Co., L.P., 120 W. 45th St., 39th Fl., Centerville Rd., Ste. 400, Wilmington, DE ROUND LLC. Articles of Organization were Corporation Service Co. (CSC), 80 State St., Federal & Duke of York Sts., Dover, DE 19901. Tower 45, NY, NY 10036, Attn: Bertrand C. 19808. Name/address of genl. ptr. available filed with the Secretary of State of New York Albany, NY 12207. DE address of LLC: c/o CSC, Purpose: any lawful activities. Fry, General Counsel, registered agent upon from SSNY. Cert. of LP filed with DE Secy. (SSNY) on 03/07/07. Office location: New 2711 Centerville Rd., Ste. 400, Wilmington, whom process may be served. DE address of of State, Federal & Duke of York Sts., Dover, York County. SSNY has been designated as DE 19808. Arts. of Org. filed with DE Secy. Notice of Formation of Life Long Fitness LLC: 1209 Orange St., Wilmington, DE 19801. DE 19901. Purpose: any lawful activity. agent of the LLC upon whom process against of State, Townsend Bldg., Dover, DE 19901. LLC. Arts. of Org. filed with Secy. of State Arts. of Org. filed with DE Secy. of State, 401 it may be served. SSNY shall mail a copy of Purpose: any lawful activity. of NY (SSNY) on 7/18/07. Office location: Federal St., Dover, DE 19901. Purpose: any Notice of Qualification of D. E. Shaw CH-SP process to the LLC, 17 Ann Street, New York, NY Co. SSNY designated as agent of LLC lawful activity. Series 4-01 (C), L.L.C. Authority filed with NY New York 10038. Purpose: For any lawful Notice of Qualification of Source Broadband upon whom process against it may be served. Dept. of State on 6/13/07. Office location: NY purpose. Services, LLC. Authority filed with Secy. SSNY shall mail process to: The LLC, 56 Notice of Qualification of Hygrove Select LP, County. LLC formed in Delaware (DE) on of State of N.Y. (SSNY) on 7/2/07. Office Ludlow St., 2nd Fl, NY, NY 10002. Purpose: App. for Auth. filed Sec'y of State (SSNY) 9/20/06. NY Secy. of State designated as Notice of Qualification of WRA Investments location: NY County. LLC formed in Delaware any lawful activities. 1/22/04. Office location: NY County. LP org. agent of LLC upon whom process against it LLC, App. for Auth. filed Sec'y of State (SSNY) (DE) on 5/15/07. SSNY designated as agent in DE 1/21/04. SSNY designated as agent of may be served and shall mail process to: D. 2/10/03. Office location: NY County. LLC org. of LLC upon whom process against it may Notice of Formation of Flamengo Partners LP upon whom process against it may be E. Shaw & Co., L.P., 120 W. 45th St., 39th Fl., in DE 1/27/03. SSNY designated as agent of be served. SSNY shall mail process to: c/o LLC. Arts. Of Org. filed with Secy. of State of served. SSNY shall mail copy of process to Tower 45, NY, NY 10036, Attn: Bertrand C. LLC upon whom process against it may be CT Corporation System, 111 8th Ave., NY, NY N.Y. (SSNY) on 07/20/2007. Office location: 399 Park Ave., 4th Fl., NY, NY 10022. DE Fry, General Counsel, registered agent upon served. SSNY shall mail copy of process to 10011, registered agent upon whom process New York County. SSNY designated as agent office addr.: c/o CSC, 2711 Centerville Rd., whom process may be served. DE address of 101 Park Ave., 48th Fl., NY, NY 10178. DE may be served. DE address of LLC: 1209 of LLC upon whom process against it may be Wilmington, DE 19808. Cert. of LP on file: LLC: 1209 Orange St., Wilmington, DE 19801. office addr.: c/o CSC, 2711 Centerville Rd., Orange St., Wilmington, DE 19801. Arts. of served. SSNY shall mail process to: c/o Gallet SSDE, Townsend Bldg., Dover, DE 19901. Arts. of Org. filed with DE Secy. of State, 401 Wilmington, DE 19808. Cert. of Form. on file: Org. filed with DE Secy. of State, 401 Federal Dreyer & Berkey, LLP, 845 Third Avenue, 8th Name/addr. of each gen. ptr. avail. at SSNY. Federal St., Dover, DE 19901. Purpose: any SSDE, Townsend Bldg., Dover, DE 19901. St., Ste. 4, Dover, DE 19901. Purpose: all Floor, New York, NY 10022-6601- Att: David Purpose: any lawful activities. lawful activity. Purpose: any lawful activities. lawful purposes. L. Berkey, Esq. Purpose: any lawful activity.

28 | Crain’s New York Business | August 20, 2007 CNYB 08-20-07 A 29 8/16/2007 8:02 PM Page 1

Wealth managers give THE WEEKS AHEAD THIS WEEK’S EVENTS [email protected]. AUGUST 21 Lehman College’s Small Business SEPTEMBER 10-16 nod of approval to Rudy Development Center holds workshop SEPTEMBER 10 on managing and understanding credit. Queens Economic Development Corp. 10:00 a.m. to 1:00 p.m., 250 Bedford holds open house on its entrepreneur group, “Barack Oba- Park Blvd. West, Old Gym Building, assistance program. 6:00 p.m. to 8:00 Financial advisers room 108-B. Free. (718) 960-8697 or p.m., Queens Borough Hall, 120-55 ma (One Million [email protected]. Queens Blvd., room G-110, Kew say former mayor Strong for Barack),” AUGUST 21 Gardens. Free. (718) 263-0546. belonging to the De- BizNet, Chapter 2, holds networking SEPTEMBER 11 would be better mocratic senator from reception. 8:00 a.m. to 10:00 a.m., Manhattan Chamber of Commerce Illinois. Meerbaum & Co., 555 Fifth Ave., holds networking reception. 6:00 p.m. to for the economy 14th-floor conference room. Free. 8:00 p.m., Roger Smith Hotel, 501 Dems trail (212) 378-1720. Lexington Ave. Fee: $15 members, $25 BY AARON SIEGEL when advisers were AUGUST 22 nonmembers. (212) 473-8074. SEPTEMBER 14 asked,“Which candi- Seedco’s Lower Manhattan Business Solutions Center and GreenPath Debt CenterPoint Solution, R3 Health and caroline giuliani may not be sup- dates would be worst Solutions hold information session on Wellness Center hold seminar on living porting her father’s presidential bid, for the U.S. economy building and improving credit. 3:00 p.m. a better life at work. 8:00 a.m. to 10:00 but financial advisers say they prefer and investing?” about bloomberg news photos to 5:00 p.m., 110 William St., fourth a.m., Microsoft Office, 1290 Sixth Ave., the former New York mayor over LOVE-HATE RELATIONSHIP: Advisers says they would expect Mr. 60% answered Sen. floor. Free. (212) 618-8817 or sixth floor. Free. (860) 496-4636 or any other presidential candidate. Giuliani to cut taxes. Sen. Hillary Clinton had the worst showing. Hillary Clinton, D- [email protected]. [email protected]. Thirty-six percent of 205 advis- N.Y. Following her AUGUST 22 ers surveyed by the Brinker Barom- were John Edwards, The Wall Street Journal and Nationwide SEPTEMBER 17-23 eter—a quarterly gauge of profes- support, respectively. Democrat and former senator Equities Corp. hold networking lunch. SEPTEMBER 18 sionals’confidence in and sentiments “The industry is overwhelming- from North Carolina (13%); Mr. 1:00 p.m. to 2:00 p.m., Calico Jack’s, 800 Smart Business Advisory and Second Ave. Free. (917) 975-5985 or Consulting holds networking reception about the economy—say former ly Republican, and Mr. Giuliani is a Obama (12%); Mr. Giuliani (6%); [email protected]. and program on public speaking in the New York Mayor Rudolph Giuliani leader on the ticket,” says Bruce Mr.McCain (6%);and Mr.Romney AUGUST 22 workplace. 5:30 p.m. to 8:30 p.m., Yale would have the most positive effect Fenton, president of Atlantic Fi- (4%). Networking for Professionals holds Club, 50 Vanderbilt Ave. Free. on investment and the economy. nancial Inc. in Norwell, Mass.“The The Brinker Barometer survey is lunch program. 1:00 p.m. to 3:00 p.m., (610) 964-4054 or perception is that he would cut tax- conducted online among the 2,150 Palm Too, 840 Second Ave. Fee: $44.90 www.smartgrp.com/events.asp. GOP country es. Many people in the industry feel advisers at Brinker Capital Inc., a members, $54.90 nonmembers. SEPTEMBER 18 rounding out that list were Mr. that Republicans are better for the wealth management company based (212) 227-6556 or Bedford Stuyvesant Restoration Corp. Giuliani’s fellow Republicans, in- economy, and he is a recognizable in Berwyn, Pa., which manages [email protected]. holds seminar on making the most of AUGUST 23 your money. 6:30 p.m. to 8:30 p.m., cluding former Massachusetts Gov. candidate.” about $8.9 billion. SalemGlobal holds networking 1368 Fulton St., Billie Holiday Theater, Mitt Romney and Sen. John Mc- Mr. Giuliani’s 17-year-old breakfast. 8:00 a.m. to 10:00 a.m., 70 W. Brooklyn. Free. (718) 636-6924 or Cain, R-Ariz., who garnered 30% daughter had for a short time listed Aaron Siegel is a reporter at Investment 40th St. Free. (646) 872-6592 or [email protected]. and 15% of the survey participants’ herself as a member of a Facebook News, a Crain publication. [email protected]. SEPTEMBER 18 New York Society of Security Analysts AUGUST 27-SEPTEMBER 2 and National Investor Relations AUGUST 29 Institute-New York hold seminar on Five O’Clock Club Executive Job analyst and investor relations. 8:30 a.m. Another sweet September Search Group holds seminar on to 12:00 p.m., 1177 Sixth Ave., second advanced interviewing techniques. 6:30 floor. Fee: $225 NYSSA and NIRI p.m. to 8:30 p.m., 11 Penn Plaza, fifth members, $295 nonmembers. floor. Fee: $50. (914) 788-5482 or (646) 871-3405 or [email protected]. for major fashion magazines [email protected]. SEPTEMBER 18 AUGUST 30 New York Public Library’s Science, cording to the Media sues rather than its usu- Manhattan Review holds information Industry and Business Library holds Accessories market Industry Newsletter. al 10 for 2007. session on M.B.A. admissions at the workshop on launching a consumer drives ad page gains Matching Elle was “The only real ques- Wharton School of the University of magazine. 5:30 p.m. to 7:00 p.m., 188 Time Inc.’s In Style; its tion mark for me is how Pennsylvania. 7:00 p.m. to 8:30 p.m., Madison Ave., room 018. Free. for important issue; 398 pages represented the market holds up 420 Lexington Ave., suite 2310. Free. (212) 592-7000. (212) 997-1660. SEPTEMBER 20 difficulties persist an improvement of 33 for December,” Mr. Manhattan Chamber of Commerce pages. Mitchell says. “Is it a SEPTEMBER 3-9 holds networking reception. 5:30 p.m. to Harper’s Bazaar, market where people SEPTEMBER 5 8:00 p.m., Club 101, 101 Park Ave. Fee: BY NAT IVES from Hearst, is run- are looking for ways to Banco Popular and Sandler Institute $25 members and $35 nonmembers in ning 360 ad pages in spend money or to pull hold networking reception and program advance; additional $5 for all at door. fall issues, and September in par- its September tome— it away? In our case,a lot on winning more business. 6:00 p.m. to (212) 473-7805 or ticular, are again proving golden for the largest issue in the of it’s driven by the re- 8:00 p.m., 441 Second Ave. Free. [email protected]. SEPTEMBER 21 many magazines. That’s good news title’s history—for an tail environment.” (212) 679-1201 or [email protected]. SEPTEMBER 6 Daily Mastery holds seminar on time for publishers, whose bosses are by increase of about 48 pages. And Retail uncertainty is already on Purple Dot Group holds seminar on management. 8:00 a.m. to 10:00 a.m., now getting a pretty good idea how Glamour,though not as strict a fash- display at Seventeen and CosmoGirl, how to test marketing results. 6:30 p.m. Microsoft Office, 1290 Sixth Ave., sixth 2007 as a whole will turn out.Those ion play as the others, is up 10 ad which have a shot at matching last to 8:30 p.m., SLC Conference Center, floor. Fee: $20 in advance, $25 at door. big issues will likely help the indus- pages from last September, to 285. year’s ad-page totals, according to 352 Seventh Ave., 16th floor. Fee: $49. (201) 484-0263 or try end the year on par with 2006. But some of the most notable Michael Clinton, publishing direc- (800) 514-3557 or [email protected]. Vogue and its Condé Nast sibling successes are highlighting the diffi- tor at Hearst Magazines. www.purpledotmag.com/events. W benefited from spending in the culties that persist for magazines— SEPTEMBER 6 SEPTEMBER 24-30 accessories category. reminding us that October,Novem- Spring revival Industrial and Technology Assistance SEPTEMBER 25 The September Vogue shot up ber and, especially, December are as “the beauty and fashion business Corp. holds seminar on green building. Goodwin Procter and Mergers & 5:30 p.m. to 7:30 p.m., Skadden Arps Acquisitions magazine hold forum on like the champion should, clocking uncertain and crucial as ever. is up, but the retailers were softer in Slate Meagher & Flom, 4 Times financial services M&A. 3:00 p.m. to 727 ad pages,for a gain of more than Details, for example, is publish- 2007 than we would have liked,”Mr. Square, 37th floor. Fee: $25. 5:30 p.m., Regency Hotel, 540 Park 100—helped only a bit by this year’s ing its largest September issue ever, Clinton says.“I think that’s going to (212) 404-6990, ext. 15, or Ave. Fee: $99. (212) 803-8833 or Condé Nast-wide Fashion Rocks nearly 259 pages. Impressive as that come back in the fourth quarter and [email protected]. [email protected]. insert,which is 15% thicker than last sounds,it’s just four more pages than the spring.” Elsewhere at Hearst, SEPTEMBER 6 —adrianne pasquarelli year’s.The number of ad pages in the last year’s issue. And October will Cosmopolitan’s September issue falls Camba’s Small Business Services holds insert ranges from 75 to 100, de- come in about 40 pages shy of the 19 pages short of last year’s. But he workshop on for-profit versus nonprofit pending on the title. year-earlier magazine. says the title is up more than 20 organizations. 3:00 p.m. to 5:30 p.m., TO LIST YOUR EVENT 884 Flatbush Ave., second floor, Not surprisingly, given the “The market felt a little soft this pages in October. Brooklyn. Free. (718) 282-2500, ext. Crain’s lists business meetings online and includes spending strength in the accessories October,” says Publisher Chris For the year,Mr.Clinton predicts 242, or [email protected]. them in the print edition on a space-available basis. category this past year, the other Mitchell. “When we look at new that magazines will continue to SEPTEMBER 7 Events in New York City with admission fees of less fashion books are fat as well. business, which is just one of our in- grow, despite a new-media mael- Global Purchasing Cos. holds workshop than $300 are considered for the print publication. dicators, we have about 50 pages of strom outside their pages.Of course, on how to open and run a retail store. Listings can be submitted only through the Crain’s Adding up new business in October. We did there are paper- and postage-cost in- 10:00 a.m. to 5:00 p.m., 1133 Broadway. Web site. To submit a calendar listing, go to Fee: $189. (212) 414-4001 or www.newyorkbusiness.com and click on “Events.” w racked up 477 ad pages, an 85- about 100 last October.” creases coming in 2008,he notes,“so Sponsors have a choice of several free or paid list- page gain over last September. Elle, Details will still beat last year’s a growing ad picture is good.” ing options. All business events will be posted part of Hachette Filipacchi Media total comfortably, helped along by a More meetings online at online within two business days. www.newyorkbusiness.com U.S., nabbed 398 ad pages for the new holiday issue, coming out on Nat Ives is a reporter at Advertising Age, a Click on “Events” Crain’s can neither confirm receipt of listings nor say month, up 27 from a year earlier, ac- Nov. 6, that will give the title 11 is- Crain publication. if or when event listings will appear in the print edition.

August 20, 2007 | Crain’s New York Business | 29 Project3 8/16/07 4:28 PM Page 1

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BUSINESS LIVING LARGE More New Yorkers are heading to the islands to buy a second home PAGE 34 buck ennis

GOTHAM GIGS Brooklyn shutterbug Going to extremes HOOKED ON BROOKLYN Kathryn Kirk didn’t expect to Daredevil execs take risks; some employers wary stay long when she became staff photographer for Brooklyn Borough President Howard Golden in 1989. “I was thinking two years, max,” she says. She photographed Jackie Kennedy Onassis on one of her first assignments. “Every time I go out, I meet someone intriguing.” Her salary was $51,494 last year. MARILYN NEIMAN, a senior counsel at Cohen Pontani DARKROOM DELIVERANCE Lieberman & Pavane, handles Until Marty Markowitz took tough cases and tough rivers. office in 2002, Ms. Kirk developed her photos in a darkroom at Borough Hall. “It was slower but one of the more relaxing parts of the job,” she says. “Now, everyone wants everything right away.” SPOTLIGHT MOMENT When Bill Clinton visited Borough Hall in 1992, “he walked across the room ... and introduced himself,” Ms. Kirk says. “[At our next encounter], I said, ‘We’ve met before,’ and he said, ‘I remember.’ ” He then declared, “I want my picture with the photographer lady.”The single mom included that photo with her adoption applications and now raises Elena, 8, and Paloma, 2. —erik engquist EXPERT OPINIONS OFFICE ROMANCE: MAKING IT WORK if you do begin dating someone from work, make sure to protect your paycheck and keep the relationship buck ennis professional. Don’t argue in THE STATS the office, and don’t come in BY HILARY POTKEWITZ and tell everyone about your great night together. Avoid e- eet marilyn neiman, esq.: litigator, 53-year-old mother mailing one another at work. of two, white-water kayaker. If you think your co-workers She says that she handles her toughest river runs the know about the relationship, same way she handles her toughest cases—by analyzing their of skydivers are between go ahead and tell your boss. merits. 41% It’s better that he hears it from the ages of 40 and 59 you than from someone giving “There are weaker areas of the river and stronger areas, just him a nudge in the elevator. like a case,” says Ms. Neiman, senior counsel at Manhattan law —helaine olen firm Cohen Pontani Lieberman & Pavane. “You don’t jump in Co-author of the upcoming book and randomly pursue a case, or a river. You plan a strategy, and Office Mate you stop and adjust as you get more information.” Ms. Neiman is a member of a growing class of daredevil executives who deem golf or squash 23%of skydivers work in business Mtoo tame. Instead, they seek adrenaline-filled activities like flying planes, climbing mountains management, marketing or tech or skydiving. Recruiters call these pursuits “aggressive hobbies,” and their popularity is causing complications for companies worried about losing top See DAREDEVIL on Page 32 Source: United States Parachute Association punchstock

August 20, 2007 | Crain’s New York Business | 31 CNYB 08-20-07 A 32 8/16/2007 7:32 PM Page 1

BUSINESS LIVES Daredevil execs thrive on risks PUSHING THE LIMITS Top extreme hobbies among daredevil executives.

Continued from Page 31 have outlets to follow their passion,” hit the apex of their careers, and as MOTORCYCLE performers to strained backs, bro- says Terence Gallagher,president of younger generations hooked on all RIDING ken limbs or worse. executive search firm Battalia Win- things extreme rise through the PILOTING SMALL The conflict is becoming more of ston International. “But they want ranks. PLANES an issue during executive recruiting. to know their top-level execs are be- The 51-year-old Mr. Gallagher Employers prize the kind of people ing prudent, so it’s: ‘By all means, understands the conflict well. A SCUBA DIVING who are drawn to extreme hob- pursue your hobbies, but don’t go self-described Harley-Davidson RACE CAR DRIVING bies—go-getters who achieve their jumping into a shark tank, please.’ ” man, he says he’s always careful. He istockphotos goals. At the same time, reaching a never rides his bike at night, and he C-level suite means more responsi- Issue will arise more often recently upgraded to a safer model, Still, Mr. Gallagher says his tributes to their overall mental well- bility to the firm, customers and mr. gallagher says he expects to the 2002 Softail Deuce, which has a business partner isn’t too thrilled being,” says CPLP Managing Part- shareholders. see the issue arise more frequently as more sophisticated engine than his about his hobby. “Sometimes he ner Martin Pavane. “Apart from a “They want their executives to growing numbers of baby boomers old 1996 Harley. looks at me sideways and says,‘Why broken limb here and there,so far no would you take that kind of risk?’ ” one’s suffered any serious injury,” he The most common extreme pur- adds. suits are motorcycle riding, piloting Though he knows his lawyers are small planes, scuba diving and race smart and methodical by nature,the car driving. firm has taken on key-man insur- O. James Sterling, the 37-year- ance for its top partners. old managing director of private eq- In other cases, the risks might uity firm Aleutian Capital Partners, not be as obvious.Michael Cannon, has been a pilot since he was a a hedge fund manager at Lehman teenager. He flies his four-seat, sin- Brothers, is a mountaineer. He has gle-engine plane nearly every sum- mer weekend. He also takes it up about 10 times a year for company ‘Unless you say trips, sometimes bringing his busi- ness partner. you’re doing It’s quite a change from his for- mer employer,a Big Four consulting Everest ...people firm that had rules against employ- ee pilots flying for business pur- have no idea’ poses. “I think you can be adven- turous without being a risk-taker,” says Mr. Sterling, who spent three years as a professional airline pilot PROFESSIONAL after college. summited mountains in the Pacific The dangers faced by hobbyist Northwest and South America,and STUDIES fliers were brought home last Octo- has completed some “reasonably ber when New York Yankee pitcher gnarly” climbs in Alaska. An expe- Cory Lidle and a flight instructor rienced climber, he says safety is his were killed when their small plane top priority. hit a Manhattan high-rise. “I am the opposite of a weekend warrior,”says the 46-year-old Mon- No serious injuries tana native.Since he started manag- despite the risks, some employ- ing the MLP Opportunity Fund ers embrace extreme hobbies. For last year, he brings a satellite phone example, Ms. Neiman’s law firm on his expeditions. He once con- I know a good business opportunity when I see it. counts a pilot and a mountaineer ferred with the office for 10 minutes among its ranks. “If it’s something from the top of Mount McKinley. they enjoy doing, it probably con- As a result, he has a hunch his Taking advantage of opportunity—it’s important in business; it’s essential in your career. NYU’s co-workers don’t really understand School of Continuing and Professional Studies (SCPS) o$ ers a full range of academic programs, what these three-week, ice-ridden including Master’s degrees, certi' cates, and individual courses in critical ' elds such as ' nance, real trips are like at 19,000 feet.“Unless estate, marketing, management, technology, publishing, and many others. Most importantly—and STORIES CAN you say you’re doing Everest or go- uniquely—we provide access to our world-class faculty, renowned practitioners in the many global ing to Pakistan, people have no industries that are centered here in New York. BE REPRINTED, idea.” POSTED ONLINE In the corporate world, it is dif- GRADUATE DEGREES: UNDERGRADUATE DEGREES: CONTINUING EDUCATION: ficult for companies to limit em- • Construction Management • Digital Communications and Media • Arts Appraisal and Administration CRAIN’S OFFERS REPRINTS of ployees’ leisure activities. New • Digital Imaging and Design • Healthcare Management • Business Management published articles, which can York labor law forbids discrimina- • Direct and Interactive Marketing • Hotel and Tourism Management • Career, Education, and Life Planning include black-and-white or color tion on the basis of off-duty activ- • Fundraising • Information Systems Management • Coaching photos that accompany the story. ities, to protect union membership • Global A+ airs • Leadership and Management Studies • Finance and Accounting To obtain an estimate, contact • Graphic Communications • Public Administration • Human Resources and political speech. But the law • Hospitality Industry Studies • Real Estate • Hospitality and Tourism Lori Noffz at Reprint Management also covers recreational pursuits, • Human Resource Management • Sports Management and Leisure Studies • Information Technology Services, (717) 399-1900, ext. defined as “sports, games and hob- • Management and Systems • Marketing, Advertising, and Sales 104, or [email protected]. bies,” according to Dermot Sulli- • Public Relations DIPLOMA PROGRAMS: • Philanthropy and Fundraising Readers wishing to make van, a partner in the labor and em- • Publishing • Credit Analysis • Project Management their own reprints or to post a ployment law practice at Bryan • Real Estate • Paralegal Studies • Public Relations story on a Web site must pay Cave.He has negotiated both sides • Sports Business • Publishing $350 for the use of the Crain’s of this issue. • Tourism and Travel Management • Real Estate and Construction Management copyright; the fee for nonprofits is Companies can find ways to $195. write contracts around the rule, if Send a letter describing the the hobby could directly conflict with a firm’s best business interest, For information on all graduate, undergraduate, and article and how it will be used, along with a check, to Jill for example. But the result depends continuing education programs, visit our website or call to on who has the leverage. receive our new Bulletin. Bottomley at Crain’s New York “If the company really wants the scps.nyu.edu/x92 1-800-FIND NYU, ext.92 Business, 711 Third Ave., New York, NY 10017. For more executive,and the guy really likes his Harley,he’s going to keep the bike,” New York University is an affi rmative action/equal opportunity institution. ©2007 New York University School of Continuing and Professional Studies information, please call Ms. Bottomley at (212) 210-0282. Mr. Sullivan says. COMMENTS? [email protected]

32 | Crain’s New York Business | August 20, 2007 CNYB 08-20-07 A 33 8/16/2007 4:09 PM Page 1

BUSINESS LIVES CORPORATE LADDER Gordon Campbell Nonprofit transformer United Way CEO His magic touch is sorely needed there. PERSONNEL FILE to promote charity’s The $115 million agency, the na- tion’s largest United Way, has suf- COMPANY United Way of New redefined mission, fered high staff turnover (including York City polish public image having two CEOs in four years) and TITLE President and chief two internal probes into the handling executive of assets, and it has an overall public BY MIRIAM KREININ SOUCCAR image problem. It is still thought of AGE 54 as a fund raiser for its member char- RÉSUMÉ CEO, Safe Horizon; ine years ago,Gor- ities,even though it revamped its op- commissioner, city Department of don Campbell took on erations three years ago. Homeless Services a major challenge as leader of the nonprofit Program development FAVORITE RESTAURANT now known as Safe instead of just raising money, it Tamarind NHorizon. It had a poor organiza- now also develops programs and PERSONALITY TYPE Optimist tional structure and,even worse,was works on select issues such as home- called Victim Services,which scared lessness prevention and access to away potential beneficiaries who health care.Mr.Campbell says Unit- ters are there due to evictions,” Mr. didn’t want to be labeled “victims.” ed Way hasn’t been able to spread the Campbell says.“The cost of the pro-

Mr. Campbell renamed the word about its new mission. gram is about $3,000 a family,while buck ennis group, cut underperforming pro- “The biggest challenge is to get a shelter stay averages $32,000.” grams and nearly doubled the bud- the word out about the modern Mr. Campbell plans to overhaul raised by United Way and the New heading United Way is a culmina- get, to $55.8 million. United Way of New York City … as United Way’s image. He intends to York Community Trust. Safe Hori- tion.The Seattle native realized that “He turned the organization a community problem solver and a spend a lot of time promoting the zon cut checks for 20,000 victims of he wanted a career in public service around,” says Peter Powers, chair- catalyst for change,” Mr. Campbell group’s new model and illustrating the attacks with virtually no delays. when he was in junior high and man of government relations con- says. how it can benefit both corporate worked as a page in the Washington sulting firm Powers Global Strate- One example of the different di- and nonprofit partners while solv- Into public service state Legislature. gies and a Safe Horizon trustee. rection is a homelessness prevention ing the biggest social problems in at the same time Safe Horizon The new job also has an impor- “But you can’t keep somebody as effort in the Bronx that United Way the city. was handling that task,it stayed true tant perk: the Equinox across the good as Gordon forever.” started with the Bank of New York, Just hiring Mr. Campbell was a to its mission of helping women street from his office. An avid cycler Indeed. Mr. Campbell is bring- Legal Aid, Women In Need and a major step toward renewing trust in trapped in abusive relationships. who has biked through Vietnam ing his brand of nonprofit rehabili- number of city agencies. The pro- the United Way. The former prose- For Mr. Campbell, whose ré- and Costa Rica, Mr. Campbell has tation to United Way of New York gram helps families fight eviction cutor gained wide acclaim after Sept. sumé includes a number of jobs in already signed up for spin classes. City,where he will start as president notices in civil court. 11, when Safe Horizon took on the city government, including launch- and chief executive on Sept. 24. “Fifty percent of families in shel- task of disbursing $250 million ing the AIDS Services division, COMMENTS? [email protected]

August 20, 2007 | Crain’s New York Business | 33 CNYB 08-20-07 A 34 8/16/2007 1:46 PM Page 1

BUSINESS LIVES

NEW UPPER WEST LIVING SIDE: Thirty-five LARGE percent of the buyers at The Somerset, on Providenciales in Turks and Caicos, Manhattanites are New Yorkers. find 2nd homes on other islands More buying in luxury PARADISE Caribbean resorts; FOR SALE rental income may or BAHAMAS The Residences at

may not be a factor sargent photography Mandarin Oriental Dellis Cay Scheduled to open in 2009 at The Somerset. At St. Regis Re- advisory group at Pricewaterhouse- Though Ms. Marsh looks for- BY MARGARET JAWORSKI ELEUTHERA sort Temenos Anguilla, where the Coopers in Miami. ward to rental income at some point, Cotton Bay Estates & Villas 78 residences are priced from $1.4 Buyers are particularly attracted she’s putting it off.“I’m sure the old- ast november, the Starwood Collection million to $13.2 million, 60% of to branded resorts like St.Regis Re- er ones will be coming down fairly Pinto family spent their Prices from $1.6 to $2.5 million buyers are New Yorkers. sort Temenos,which “provide home often,” she says. first week in their newly ST. MAARTEN “Over the past five years, we’ve buyers with a certain sense of safety finished vacation home: The Westin St. Maarten seen an explosion in the foreign and credibility,” says Paul Kanavos, Paying for itself a 2,700-square-foot cot- Dawn Beach Residences market for second homes,” says Jeff chairman of Flag Luxury Proper- ms. pinto, on the other hand, is Ltage at The Somerset on Grace Bay, Prices from $1.2 million Hornberger, managing director of ties, the resort’s developer. counting on the revenue her proper- a resort development on Providen- ST. LUCIA member development for the Na- Yvonne Marsh, her husband and ty generates. “We ran the numbers ciales in Turks and Caicos. Residences at The Ritz-Carlton tional Association of Realtors.“And five kids, who range in age from 6 to on the rental income and the ex- Aviva Pinto and her husband, Prices from $1 million this is not a temporary trend.” 30, have been vacationing for years penses,”she says.“We figured that if both avid scuba divers and sailors, at The Abaco Club on Winding we could break even, the property had fallen in love with the island’s TURKS AND CAICOS Growth drivers Bay—a membership-only enclave was worth it, because we knew that turquoise waters and snow-white Molasses Reef, a that movement could accelerate, on Great Abaco in the Bahamas. it would appreciate in value.” beaches during their first trip there Ritz-Carlton Reserve driven by a spike in the number of After Ritz-Carlton signed on to She pays $2,100 a month for in 1989. Prices from $2.7 million retirees,a decline in real estate prices manage the property, which in- maintenance, plus $900 for utilities Fourteen years and two children throughout the United States and cludes cottages currently priced and other expenses. The cottage later, Ms. Pinto, a senior vice presi- rapid appreciation of properties in from $2.4 million to $3 million, the rents for $600 to $1,100 a night; as dent at U.S. Trust in Manhattan, New Yorkers are snapping up the Caribbean.To keep up with de- family decided to put down roots. is typical, she splits the rental rev- and her husband, who works for Caribbean homes in Turks and mand, more than 30 luxury mixed- In July, Ms. Marsh, senior man- enue 50-50 with New York-based Natixis, a French investment bank, Caicos, Anguilla and a host of oth- use developments have appeared aging director of private equity firm Sackman Realty, the developer. took the plunge and bought a home er locations as developers cater to around the region within the past Liberty Partners, and her recently Additionally, Ms. Pinto won’t of their own. By the time their cot- wealthy buyers looking for a vaca- five years. retired husband closed on a 3,000- have to pay estate or rental-income tage was finished, it was worth $1.2 tion spot, rental income and an in- The building boom “speaks to an square-foot, 2-bedroom cottage taxes: Other than a 9.75% stamp tax million, double the average precon- vestment—all in one package. overall greater confidence by the de- with a deck. levied at purchase,the British Over- struction price of $595,000. New Yorkers make up 60% of velopers, hotel brands and con- “I like knowing the house will be sea Territory is tax-free. Ms.Pinto will likely run into fel- buyers at the Ritz-Carlton Reserve, sumers,” says Scott Berman, princi- cared for when we’re not here,” she low Manhattanites at the resort. West Caicos,and 35% of purchasers pal in the hospitality and leisure says. COMMENTS? [email protected]

EXECUTIVE MOVES

ACCOUNTING & CONSULTING Markson, 37, joined as partner. He had joined as chief operating officer. He had Accenture: Roxanne Taylor, 51, was been a director, tax advisory, at Credit been a vice president at IAC. HOT JOBS promoted to chief marketing and Suisse. MSL Productions: Michael Visconti, 37, communications officer from managing Dewey Ballantine: Avinash V.Ganatra, joined as partner and investor. He was director. 37, joined as partner. He was formerly formerly vice president at Barclays WANTED: DIRECTOR BDO Seidman: Marlene Rabinowitz, 39, counsel at Skadden Arps Slate Meagher Capital. was promoted to partner from director. & Flom. Scholastic Corp.: Thomas K. Hoekzema, ORGANIZATION Solomon R. Guggenheim Museum Joel Robinson, 54, was promoted to Evan Koster, 44, joined as partner. He 53, joined as senior vice president of partner from director. had been director and senior counsel at operations. He was formerly a senior JOB DESCRIPTION Oversee exhibitions, fundraising and a 200-person Stephen M. Wyss, 35, was promoted to UBS Investment Bank. vice president at Direct Holding staff Hughes Hubbard & Reed: partner from senior manager. Dan Schnapp, Worldwide. MOST IMPORTANT TASK Maintaining the Manhattan museum’s stature DOAR Litigation Consulting: Paul J. Neale, 38, joined as partner. He had been a Symphony magazine: Robert Sandla,50, 38, was promoted to president and partner at Reed Smith. joined as editor in chief. He had been despite global expansion managing director from executive vice Morrison & Foerster: Lawrence publications editor for the New York CREDENTIALS NEEDED Proven management experience; extensive president. Gerschwer, 46, joined as partner. He had Philharmonic. knowledge of art Eisner: Michael McMurtry, 46, was been assistant U.S. attorney for the Ziff Davis Media: Jason Young, 38, was promoted to partner from director. Southern District of New York. promoted to chief executive from SALARY $300,000-plus Sidney Schwartz, 51, joined as partner. Schiff Hardin: Thomas P.Battistoni, 54, president, consumer and small business. He had been a tax director at RSM joined as partner. He had been a partner RECRUITER Internal McGladrey. at Balber Pickard Battistoni Maldonado REAL ESTATE DOWNSIDE Large shoes to fill: Former Director Lisa Dennison organized Andrea Will, 41, was promoted to & Van Der Tuin. Corcoran Group: G. Scott Segler, 36, joined 35 exhibitions during her 29-year tenure partner form director. as senior vice president and chief financial Proudfoot Consulting: James Edmister, 59, MEDIA & ENTERTAINMENT officer. He had been chief financial officer UPSIDE Running a landmark cultural institution Connected Ventures: was appointed senior vice president and Moshe Koyfman, 29, at Sentigen Holding Corp. Ms. Dennison is leaving next month to become the executive vice presi- head of the tristate region. He was Andrew Fesen, 46, joined as regional formerly a business consultant. human resources director. He had been dent of Sotheby’s North America. The Guggenheim Foundation’s board of EXECUTIVE PROMOTIONS direct of human resources at World trustees and senior management have formed a search committee to FINANCE & INSURANCE Crain’s lists the promotion and hiring of New York Kitchen. find her successor. Marc Steglitz, chief operating officer of both the foun- Riverstone Holdings: Elizabeth Weymouth, area senior executives on a space-available basis, Grubb & Ellis Co.: Geraldine Walsh, 32, dation and museum, will serve as interim director beginning Sept. 1. 39, joined as managing director. She was with priority given to positions in New York City. joined as vice president and regional —KIRA BINDRIM formerly managing director at J.P. The fastest way to get an announcement into director of operations for management Morgan Private Bank. Crain’s is to submit details online by filling out the services. She was formerly a property form at www.NewYorkBusiness.com/submit. manager at Tishman Speyer New York. LAW The Executive Moves column is also available —adrianne pasquarelli and Chadbourne & Parke: Edouard S. online. sarah studley

34 | Crain’s New York Business | August 20, 2007 CNYB 08-20-07 A 35 8/16/2007 1:52 PM Page 1

BUSINESS LIVES TABLE TALK by Bob Lape hearts of palm. Main courses may be as simple as BEST OF BOB LAPE grilled seafood, steak or chicken— you choose a side and a sauce—or Here are other modern American more elaborate dishes. Two paella restaurants reviewed recently. styles are named for the owners. Max’s Paella is strictly seafood, Gilt while Hamlet’s is heaped with rab- New York Palace Hotel, 455 Mad- bit, chorizo, Serrano ham, chicken, ison Ave. (between East 50th and duck and wild mushrooms. I en- East 51st streets), Manhattan. joyed it, truffle oil and all. (212) 891-8100. A new kick in the “Crusted” is a favored style of kitchen, 1,500 wines and superb preparation, as in horseradish- service. crusted salmon, sesame-crusted tuna, pepper-crusted duck breast X20 Xaviars on the Hudson and herb-crusted lamb loin. All the food has visual verve and arrives on 71 Water Grant St., Yonkers. plates of varied shapes and surfaces. (914) 965-1111. Peter Xaviar Kelly Desserts are as American as an returns to his hometown with a almond-chocolate brownie layered world-class dining destination. with berries and ice cream. Other sweet endings are peach cheesecake, Four Food Studio lemon tart with lemon sorbet, and Cocktail Salon ERNEST KLEIN chocolate cake and crème brûlée. 515 Broadhollow Road (Route 110), Hudson River Café’s service is Melville, L.I. (631) 577-4444.New & CO. cordial and effective,from the greet- chef James McDevitt gives an ing at the door to the thanks and Asian-American savory charge to farewell at meal’s end. There are the $4 million showplace.
FINE FOODS
savvy professionals seeing to that— general manager Robert Smith Park Avenue Summer  Same Day Delivery from Park Avenue Cafe and assis- 100 E. 63rd Street (at Park Ave-  Phone Orders tant GM Iman Dean from Nobu. nue), Manhattan. (212) 644-1900.

david neff photos david Mr. Smith is the go-to guy for From Quality Meats’ son-father  Corporate Accounts HARLEM HELMSMEN: Hamlet Perelta, Max Piña and Ricardo Cardona (left to right) of Hudson advice on the fairly priced wine team of Michael and Alan Still- River Café, which took three years to build. The restaurant features an expansive two-level patio. choices.Any of the waitstaff will de- man, a truly seasonal restaurant.  Catered Luncheons tail the signature cocktails, includ- Located at: ing a salute to what Manhattanville David Burke Fromagerie was once: The 1921 meatpacking 26 Ridge Road (at Avenue of Two Sixth Ave. and 55th St. district. Rivers), Rumson, N.J. 212.245.7720 (732) 842-8088. Mr. Burke and his Manhattanville’s COMMENTS? [email protected] culinary crew celebrate the chef ’s re- A FULL SERVICE SUPERMARKET new attraction turn to his rustic roots. Hudson River Café es. The lively ambience is periodi- cally punctuated by trains charging offers zesty American past the expansive two-level patio. But designer Albert Montoya and with seafood focus; decorator Angela Chang have in- fused the loft-like space with stylish view isn’t picturesque and clean modern lines. Chairs, however, are hard and of the you- s it has in many parts of wouldn’t-want-to-overstay ilk. New York, food is driv- There is valet parking ($10),bike HUDSON RIVER ing redevelopment of racks are coming,and it’s hoped that CAFE Manhattanville. That’s New York Waterways will have a 697 W. 133rd St. the glamorous name for stop nearby as of next summer. (at 12th Avenue) Athe Harlem neighborhood near the Meantime, I’ve found street (212) 491-9111 rail line and the West Side Highway. parking as easy as wading into one of ½ Columbia has earmarked it for ma- chef Cardona’s smoked-fish plat- jor retooling in years ahead. ters, featuring tuna jerky, salmon, CUISINE Modern American, The uptown Fairway Market an- scallops and mussels. Small buckets seafood-oriented chors several blocks. Dinosaur Bar- containing horseradish sauce, pick- WINES 170 choices, 12 by the B-Que adds smoky goodness to one led cucumber salad and capers ac- side of 12th Avenue. The $2.5 mil- company that fine item.Another sa- glass lion Hudson River Café is providing vory starter for sharing is trout DRESS No code a luscious lure to what was formerly mousse, smoked cod and bean-olive NOISE LEVEL High an auto repair shop on the other side. purée served with flatbreads. Owners Hamlet Perelta and While he’s renowned for Latin PRICE RANGE $18-$34 Max Piña,who have backgrounds in menus, Mr. Cardona specializes in WINE MARKUP 90%-180% clubs, music, and retail wines and fresh seafood-oriented American spirits, are partnered with estimable fare at Hudson River Café. This CREDIT CARDS All major chef Ricardo Cardona in the zesty means appetizers ($10 to $15) such RESERVATIONS newcomer. It’s taken three years to as grilled baby back ribs, lean and Recommended build but has caught on fast with succulent in guava BBQ sauce; HOURS Dinner, Tues.-Sat., those of us who’ve wondered when crispy and spicy Buffalo-seasoned 5 p.m.-midnight, Sun., 5-10 p.m.; it would finally open. Dinner busi- shrimp with Maytag blue cheese Marcum & Kliegman LLP ness is so great it caused four nights dressing; and jumbo lump crab Brunch, Sun., 11 a.m.-3 p.m. of live music to be reduced to two, cakes with remoulade sauce. = Outstanding 800.921.0777 Wednesdays and Sundays. There are raw bar selections, = Excellent WWW.MKLLP.COM Views from the HRC are raff- Kobe beef mini burgers, local = Very good ish—one end of Fairway and the tomato gazpacho and a Caesar sal- = Good underside of the highway approach- ad that is adorned with grilled

August 20, 2007 | Crain’s New York Business | 35 Project3 8/6/07 1:33 PM Page 1