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INSIDE

TOP STORIES Inside AOL’s Why our airports struggle to reinvent need an upgrade itself after a Yahoo ® —William Rudin and Jonathan Tisch tie-up dead-ends on improving NY’s air travel network P. 11 PAGE 3 Restaurants stay VOL. XXVI, NO. 50 WWW.CRAINSNEWYORK.COM DECEMBER 13-19, 2010 PRICE: $3.00 open later, filling nightlife void PAGE 2 Lonelier Boom heart in all things surgery B’klyn, from salsa to wine centers PAGE 3 Good: Operations Under fire, the decline. Bad: So do Bents beat a retreat hospitals’ revenues PAGE 4 Alair Townsend bids BY GALE SCOTT farewell to some WHEN 70-YEAR-OLD Francis Benner vis- ited his Mount Sinai Hospital cardiol- great New Yorkers ogist recently, he knew he might need PAGE 12 angioplasty and stent placement—pro- cedures in which doctors use a catheter to clear a blocked artery and insert a de- vice to keep it open. Instead, he had a pleasant surprise. Dr. Samin Sharma, director of Mount Sinai’s interventional cardiology clinic, told Mr.Benner that the procedure was- n’t necessary, and that he would do fine with medication and some weight loss. “I was definitely relieved,” says Mr. Benner, a retired financial services ex- ecutive who lives in Merrick, L.I. “You don’t want to have an operation if you USINESS IVES don’t have to.” B L His experience signals a shift in how doctors treat heart problems. With na- GOTHAM GIGS See CARDIOLOGY on Page 20

Life is sweet for this enrico varrasso Sugar Plum Fairy P. 21 ● ANNE FISHER gives small businesses advice on holiday gifts P. 21 Hits needed ● MOVERS & SHAKERS Bob Pittman revisits the to light up P .. 22 The Gilded City radio industry ● GAEL GREENE eats up Ciano’s Tuscan flair P .. 23 New York’s wealthiest have grown rich beyond compare. Now for the other 99% Praying for spring INDEX turnaround as shows BY DANIEL MASSEY NEIGHBORHOOD JOURNAL ______5 close at rapid pace

THE INSIDER ______8 FUELED LARGELY by a booming Wall Street,the share liberal think tank. The income share of the bottom

SMALL BUSINESS ______9 of income going to the tiny sliver of New York’s 90% of households here was 34.5% in 2007, com- BY MIRIAM KREININ SOUCCAR

REAL ESTATE DEALS PLUS ______9 wealthiest—the top 1% of households—soared to pared with 59.1% in 1987. Even as the city’s econo- 44% in 2007 from 17.2% two decades earlier. The my grew at a rate of 2.9% annually from 1990 to CAN SPIDER-MAN RESCUE Broadway GREG DAVID ______11 average income of the city’s super rich was $3.7 mil- 2007, the hourly median wage fell 8.6%, to $15.50; from a free-fall? CLASSIFIEDS ______18 lion,and the price of entry into this exclusive club of median household income fell 2.2%, to $45,000. So far at least, the fall season has HOT JOBS ______21 34,625 members was $642,000. “There has been considerable growth,” says been in desperate need of a rewrite. In EXECUTIVE MOVES ______21 While the city’s rich have gotten richer,everyone James Parrott,the institute’s chief economist,“but it the past two months, at least five new

THE WEEK AHEAD ______23 else is treading water at best,according to a report to has not meant higher real wages or higher family in- shows,such as Elling and The Scottsboro be released Monday by the Fiscal Policy Institute, a See GILDED on Page 20 Boys, have shut down or announced an early closing date.The most hyped pro- ductions, like Women on the Verge of a REPORT PHILANTHROPY Nervous Breakdown and the Jerry Sein- feld-directed one-man show, Colin The new power patrons: Why they still see Quinn: Long Story Short, are limping P. 13 along at the box office. The only new value in corporate support of arts hot ticket in town is The Merchant of P. 16 Venice, starring Al Pacino, which has a

NEWSPAPER List: NY’s largest nonprofits See BROADWAY on Page 20 20101213-NEWS--0002,0003-NAT-CCI-CN_-- 12/10/2010 8:22 PM Page 1

IN BRIEF THE CHIEF EXECUTIVES OF AMERICAN Yahoo linkup off, AOL tries a EXPRESS CO. AND MACY’S INC. WERE ELECTED co-chairs of the Partnership for ducks lined up to be a buyer.” enues for the first nine months of the year at the group’s annual meeting, held last Friday But not much is clicking A source close to Yahoo confirmed the have tumbled to $1.8 billion, 25% below morning at the New York Stock Exchange. for the one-time insider’s scenario. A Yahoo spokeswoman the levels of the year-earlier period, and Kenneth Chenault of American Express and declined to comment. are forecast to be down 26% for the year as Terry Lundgren of Macy’s will replace Internet powerhouse One year after it was spun off from a whole. Feeding the decline has been a Goldman Sachs CEO Lloyd Blankfein and Time Warner, AOL is 25% slide in ad sales, which account for News Corp.’s leader, Rupert Murdoch. BY MATTHEW FLAMM left to struggle on slightly more than half of all revenue.That alone. Efforts to drop contrasts sharply with an expected NYU LANGONE MEDICAL CENTER IS FORGING TWO MONTHS AFTER REPORTS first ap- reinvent itself as a 14% spike in online ad FAST FORWARD AHEAD WITH PLANS FOR AN $81 MILLION peared that AOL was looking to merge powerhouse CEO Tim Arm- spending in the U.S. this renovation and expansion of its emergency with Yahoo in a bold bid to speed up its provider of news strong has been year,to a total of $26 bil- department that will help ease the crunch of turnaround, the -based Web and information, on buying spree. lion, according to emergency patients crowding Manhattan veteran has abandoned its quest,according supplying everything eMarketer. hospitals after the April closure of St. Vincent’s to an industry insider with knowledge of from celebrity gossip AOL’s revenues Hospital. Planned long before St. Vincent’s the situation. and political news to in- were also hurt by closed, the NYU Langone emergency “AOL tried to either get enough back- sights on finance and a 27% plunge department renovation will triple its space, to ing to make a run at Yahoo, or get Yahoo fashion, have yet to in subscription 19,600 square feet.The state last week interested in buying it,” the source says. yield results. revenue from approved the sale of $191.4 million in 30-year “Yahoo didn’t bite,and AOL didn’t have its Total rev- the compa- tax-exempt bonds for the hospital, part of bloomberg news which will fund the renovation. Ⅲ

the bar. By responding to the demand for BY THE NUMBERS good grub in the wee hours, they also hope It’s midnight, time to maximize revenues in a weak economy. Weekly shift of the city’s economy Industry veterans say restaurants are at- tracting an older crowd for whom the din- HAPPIER HOLIDAYS Economists are upping ner is the evening, as well as young people their 2011 growth forecasts, citing the likely tax- cut extension and huge pump-priming by the who cap off a night out with a meal. é to grab a bite “There is a shift in our industry,” says Federal Reserve. Paul Seres, president of the New York Nightlife Association. “Eating out is a 24 8% 116 Restaurants stay open late, fill nightlife void much more social experience today, and HOURS RISE IN avg. NUMBER OF some restaurants have become scenes.” of video U.S. household’s NYC Sheriff Edgar hours. Most late-night restaurants are in uploaded to net worth, to Domenech’s BY LISA FICKENSCHER Contrary to the obituaries being writ- neighborhoods with thriving nocturnal YouTube.com $425K, from predecessors, every minute early-2009 low since 1626 ten about the city’s nightlife, it is indeed activity, such as Chelsea, Greenwich Vil- ON ANY GIVEN NIGHT Source: Source: Associated Source: City of at The Lion, a West alive—and hungry. A growing number of lage and the . Hung-Ry, a YouTube.com Press New York Village spot that opened in January, the restaurants are staying open late, from am- 6-week-old noodle spot on Bond Street, is high-ceilinged dining room is full well af- bitious crowd-pleasers like the Meatball closing at midnight now. But it plans to VACANCIES’ BAD BOUNCE Since bottoming out in July, ter midnight with diners enjoying dishes Shop to celebrity-studded spots like The start staying open until 3 a.m. as soon as it the vacancy rate for rental apartments in Manhattan has that range from a $29 lobster potpie to a Lion, say industry experts. trains and hires more employees, says co- risen steadily over the last four months. $41 “lamb Porterhouse.” Chef and co- “We are seeing a significant increase in owner Weilan Mark. owner John DeLucie says customers often restaurants that want to be open past mid- leave at 2 a.m. night,” says Robert Bookman, co-founder Community boards hold power In the other village, there can be a 30- of the New York Nightlife Association and THE LATE-NIGHT DINING rage is also attract- minute wait at 3 a.m. to score a table at a lawyer specializing in liquor licenses. ing the attention of a less amenable group: the acclaimed Meatball Shop on Stanton For decades, Greek diners have filled community boards, which can make it dif- Street. And in Chelsea, Cafeteria, which the city’s night-owl niche.Now,prominent ficult for restaurants to get liquor license serves gourmet comfort food, is open 24 chefs and culinary school grads are raising approval. Boards are primarily concerned about bars and lounges, which tend to attract a rowdier clientele. LATE-NIGHT LION: But restaurants have gotten Source: CitiHabitats John DeLucie keeps his caught up in the clash between new restaurant open past neighborhood residents and bar ADDICTED TO NUMBERS? midnight. GET A DAILY DOSE AT @STATSANDTHECITY owners. Community Board 2, for ex- CORRECTIONS AND CLARIFICATIONS ample,recently gave its seal of ap- proval to Ideal Food and Drink, a In the Dec. 6 “Best Places to Work in NYC,” the name of Mary Lee casual spot on West Eighth Evers, a legal secretary at Sheppard Mullin, was misstated, and a Street opening in early 2011, but reference to Adam Leitman Bailey was unclear—it is a 10-year-old law firm that bears its founder’s name. Bluewolf’s headquarters only after the owners agreed to was incorrect—the firm is based in New York City—and the chief adjust the hours.Co-owner Tim- executive and co-founder is Michael Kirven, whose name was othy Barry says Ideal will close at misspelled. The name of Hachette Book Group’s Alvina Ling was midnight Monday through misspelled. In the section’s feature on succession plans, the age of Seth Besmertnik, Conductor’s CEO, was incorrect; he is 28. Thursday, two hours earlier than on the weekend. The board also David Rockwell was the designer for the Trump SoHo New York property. An article in the Dec. 6 issue, “An empire of her very recommended that the State own,” misstated the hotel property that Mr. Rockwell designed. Liquor Authority restrict the In the Dec. 6 “Executive Moves,” Megan Hilts, executive vice eatery to serving just beer and president of In10sity, is 25 years old; her age was misstated. wine. Noah Leibowitz, a partner at Simpson Thacher & Bartlett, was “I wanted to be able to serve previously a senior counsel at the firm; his former title was cocktails,and I wanted to be open misstated. Richard Snyder, former senior vice president of AFD Contract Furniture, was promoted to senior vice president, until 2 a.m. seven days a week,” director of sales; his new and former title were misstated. Mr. Barry says. “There is money to be made in the wee hours.” vol. xxvi, no. 50, december 13, 2010—Crain’s New York Business (issn Michael Chernow, co-owner 8756-789x) is published weekly, except for double issues the weeks of July Fourth, Labor Day and Christmas, by Crain Communications of the Meatball Shop, would Inc., 711 Third Ave., New York, NY 10017. Periodicals postage paid at agree.The hot spot, which serves New York, N.Y., and additional mailing offices. Postmaster: Send custom-order meatballs, sliders address changes to: Crain’s New York Business, Circulation Depart- ment, 1155 Gratiot Avenue, , MI 48207-2912. for subscriber and heroes, generates a quarter of service: Call (888) 909-9111. Fax (313) 446-6777.$3.00 a copy, $59.79 its revenues after 2 a.m. one year, $109.79 two years. (GST No. 13676-0444-RT) ©Entire contents copyright 2010 by Crain Communications Inc. “People make us a destination All rights reserved. after the clubs and bars,” Mr.

buck ennis See LATE NIGHT on Page 7

2 | Crain’s New York Business | December 13, 2010 20101213-NEWS--0002,0003-NAT-CCI-CN_-- 12/10/2010 8:23 PM Page 2

than Wall St. (outsiders),” she wrote. Maybe so, but most other analysts rank s a do-it-yourself reinvention AOL as a “hold,” and some that expect the turnaround will take until 2012. Moreover, in the key metrics that gauge ny’s old Internet-access business.The number ture Patch.com.The hyperlocal news provider in the second half of 2011 ad sales will start users’ engagement with websites, including of AOL subscribers plumbed a new low in the has already launched 500 community sites and growing in line with the market. page views and average minutes per visitor, third quarter, dropping to 4.1 million from plans to double that number next year. AOL the company had the worst year-over-year 5.4 million a year earlier. officials say they are not yet ready to discuss fi- Catching social media wave performance among the top five Internet Like Yahoo, AOL is fighting against the nancial results or forecasts for Patch. MR. ARMSTRONG ALSO BELIEVES the growth of properties. social media tide,as Web users—and advertis- And while Mr. Armstrong declines to social media will end up helping AOL— AOL’s average number of minutes per vis- ers—flock to Facebook. comment on recent developments with Ya- whose sites include StyleList.com and Daily itor, for instance, fell 24% in November, ac- hoo, he insists that he is “elated” with the Finance—as people share what they’ve read. cording to comScore, while Facebook saw a Moving on many fronts progress AOL has made. “If anything, AOL becomes one of the 46% increase. LEADING THE FIGHT, Chief Executive Tim Arm- “I don’t know of any other company in our more important assets on the Web,” he says. Media buyers say that Mr.Armstrong is fo- strong has made AOL a whirlwind of activity. space that accomplished more than we did in Some observers agree. In a research note cused on what needs to be done. In particular, Just recently, he snapped up noted blog 2010,” he says in an interview, pointing to re- last week,Needham & Co.media analyst Lau- they’re glad to see him cutting back on AOL’s TechCrunch as well as video syndication giant ducing costs by a third and increasing cash re- ra Martin put a “buy” rating on AOL’s stock, vast number of sites and making the remain- 5min Media, maker of how-to and lifestyle serves to more than $700 million from about citing smart investments, strong leadership ing ones stronger. But they also note that win- videos. In addition, he has rolled out a promis- $100 million. and the simple fact that in an industry where ners on the Web are hard to predict. ing display-ad layout system called Devil and As for the shortfalls in ad revenues, he it’s notoriously hard to keep tech employees, “There is stiff competition in every catego- begun an ambitious reinvention of AOL Mail. chalks those up to the division’s restructuring AOL has had little turnover. ry in which they play,” says Jordan Bitterman, At the same time, the former Google ad earlier this year and to the company’s efforts to “We’ll bet that the insiders (employees) senior vice president of media and content at sales star is lavishing $80 million on new ven- reduce ad clutter on the sites.He forecasts that have a better handle on AOL’s upside prospects digital ad agency Digitas. Ⅲ Rentals’ extreme extras A gym? So 2008. Now it’s soundproof rehearsal studios

BY AMANDA FUNG

TF CORNERSTONE plans to use all the bells and whistles for its luxury rental project on the waterfront in Long Island City,Queens.The 825- unit tower will feature two tennis courts, a beach-volley- ball court, a mist fountain and an oval lawn that converts to an amphitheater. “We will continue to push Brand the envelope with these amenities,” says Jon McMil- lan, director of planning for TF Cornerstone. “We could have pulled back in recession- Brooklyn ary times, but we chose not to.” Fierce competition buck ennis IN FACT, many developers are going saying over the years that beer in that direction. The days of trying More companies tap into borough’s fit with Brooklyn, but I can’t to get away with a basic gym and imagine a wine,” says Brook- lyn these storage are over. Such goodies as power of cool, whatever that is lyn Brewery’s president, days. “Brooklyn is such a rich and regulation basketball courts and sky Steve Hindy. “Now there’s diverse place,” Mr. Hindy enthuses. lounges are now becoming all but summer. Brooklyn Soda Brooklyn Winery and “It means a million different things obligatory as developers compete to BY BRIAN CHAPPATTA Works, a purveyor of “arti- Brooklyn Oenology.” to a million different people, but it attract a new class of renter—people sanal, handmade” sodas, start- Mr.Hindy recalls his ear- all adds up to a positive image.” who could afford to buy a luxury WHAT’S IN THE NAME Brooklyn? For ed in Clinton Hill last Febru- liest investors questioning Some Brooklynites, however, property but don’t want to commit at least 70 companies, including sev- ary. Wares from cheese to the Brooklyn moniker: fear for the borough’s edgy, street- in a precarious market. Builders are eral outside New York, the city’s fudge to ice cream to pickles to “They asked how that would wise image as the brand increasing- not just offering over-the-top most populous borough represents even perfume have had play in Connecticut,” he ly goes global. Clothing retailer amenities but sacrificing potentially cutting-edge yet vintage ... cool yet the Brooklyn label says. And truck drivers Brooklyn Industries, born in pre- revenue-producing space. serious ... big-city yet small-town. slapped on them in the wouldn’t come to the hipster Williamsburg in 1998, now “People are renting into a In other words,it’s hard to define. past few years, joining original warehouse in has branches in , Boston, lifestyle,”says Robert Scaglion,senior Whatever it is about the bor- such established Bushwick at night. Philadelphia and Portland, Ore. managing director of residential mar- ough, the number of businesses names as Brooklyn Though crime has Nike and Starbucks recently rolled keting at Rose Associates, which is looking to tap the Brooklyn name is Brewery (founded in hardly disappeared out Brooklyn-branded sports shoes leasing Aire, a new 309-unit luxury growing. 1988) and Brook- from the area, it and coffee drinks, respectively. building near Lincoln Center. The A vintner called Brooklyn Win- lyn Burger from is no longer Tokyo boasts a New York-themed tower features two soundproof re- ery opened in Williamsburg in Oc- A. Stein Meat the first thing jazz bar called Brooklyn Parlor. hearsal studios to appeal to musicians. tober.Absolut launched a Brooklyn Products (1935). that outsiders “It’s mind-blowing for someone The rationale is simple, accord- line of vodka nationwide this past “I remember think of Brook- See BRAND BROOKLYN on Page 7 See EXTRAS on Page 4

December 13, 2010 | Crain’s New York Business | 3 20101213-NEWS--0004-NAT-CCI-CN_-- 12/10/2010 7:56 PM Page 1

Extras go extreme IN THE MARKETS Continued from Page 3 ing to Mr. Scaglion. “Developers LUSH LIFE: The Ashley’s Aaron Elstein who give higher-level amenities can amenities include a pool by rent apartments for a premium.” and a two-lane bowling That’s exactly what Larry Silver- alley. stein has done at his inconveniently located 1,359-unit Silver Towers, at West 42nd Street and 11th Avenue. The two-tower project, which The Reserve Fund saga, cont’d: Take a opened in June 2009, has succeeded in fetching higher rents in part be- look at Bent family’s rocky new venture cause of its ostentatious amenities, T WAS THE SPRING which include a 75-foot indoor pool, a 20,000-square-foot spa and Iof last year, and fitness center, and personal the Bent family concierge services. A mid-floor needed a big idea for one-bedroom recently went for making money.The about $3,900 a month—rent that’s 20% higher than in any other build- folks who had ing in the area, according to Citi invented the money Habitats,the exclusive leasing agent market fund, for Silver Towers. floor of The Beatrice, which takes Similarly,The Ashley, a 209-unit spawning a BRUCE BENT: Money “People felt like they arrived at a up the top 30 floors of the Kimpton rental on Riverside South from Ex- market fund pioneer destination,” says Cliff Finn, direc- Hotel in Chelsea, into another tell Development Co., has 40,000 $3.7 trillion industry, tries something else. tor of new development marketing penthouse renting for at least square feet of amenities that range had seen their at Citi Habitats. “It wasn’t generic.” $20,000 a month. Instead, it turned from such standards as a library, spa reputation trashed in redux Developers say giving up the 4,000-square-foot area into the and children’s playroom to a driving- rentable space to install amenities Cloud Lounge. The 54th-floor range simulator, a pool, a bowling al- September 2008 when their flagship $62 billion fund “broke pays off. In a down market, extras recreation and entertainment space ley, a squash court and a regulation the buck,” triggering a full-scale global financial panic. Adding can help draw residents while ordi- boasts 360-degree views, a billiard basketball court. insult to injury, the Securities and Exchange Commission sued nary buildings founder; in good table,a working fireplace and a large It also has a two-level climbing the Bents and their company, Reserve Management, alleging times, they can be used to justify kitchen for parties. wall that it shares with The Aldyn, high rents. Extell’s adjacent condo building.The they had withheld key information from customers and board Experts point out that the formu- Worth the sacrifice Ashley began leasing eight months members during the darkest moments of the financial crisis. la doesn’t hold with condo buildings. “WE WERE CHEWING UP valuable ago and is almost 70% rented. “With condos,when you sell at a low space, but it made sense,” Evan “The bar has been raised, and Happily,patriarch Bruce Bent and work, offer something like Landing price, you lose the money forever,” Stein, president of J.D. Carlisle. “It rentals are stepping up their game,” son Bruce Bent II came up with a big Rock’s deposit-pooling service, says says Mr. McMillan at TF Corner- was more important for us to share says Mr. Finn at Citi Habitats, idea.On May 15,2009—10 days af- Peter Crane of research firm Crane stone.“Rental buildings are far more the views.” whose firm is also marketing The ter the SEC unleashed its suit—Re- Data. recession-proof and flexible.” The approach is working well, as Ashley. “New York is a city of serve filed trademark paperwork for Mr. Crane speculates that Land- J.D. Carlisle Development the 301-unit Beatrice is 70% leased renters, and people’s standards have a service called Landing Rock, which ing Rock is closing due to push- Corp. could have made the highest after just three months. gotten higher.” Ⅲ offered a twist on boring bank de- back from banks struggling to prof- posits. Customers could deposit up itably lend the money already in to $5 million in cash with Landing their vaults.“Banks don’t want addi- Rock and enjoy full protection from tional funding,” he says. the Federal Deposit Insurance Corp. Another school of thought holds That, the firm proudly noted, was that the FDIC and other regulators !"#$%&'()"#$*$'+('$ 20 times the standard FDIC limit of were unhappy with Landing Rock’s ),$-./0,/1$23$0443546/$27/$83..39:4;$?$@AB'+($'C%&&C fund investment. Bents to shut it down. )($@AB'+($'DA!%& It isn’t clear how An FDIC spokesman much money rolled in, says the agency “did not !E,63$'6733.$F5G.:602:34$)46H but effective Dec. 31, make any demands or Landing Rock is suspending opera- take any official action against the IJK=LI$,MH$82HK$?27$N.33<$ tions. “Please know that we do not company.” $%/-59th Street, New York, New York 10022 savers with more than $250,000 Bruce Bent II, put his West Village 212.421.1300 can, and often do, deposit their penthouse on the market, but ap- www.resnicknyc.com money in different banks on their parently no one met his $16.5 mil- own. lion asking price.A six-bedroom va- A handful of other institutions, cation house on the Delaware shore including Deutsche Bank and is for sale for $1.9 million,according Promontory Interfinancial Net- to Zillow.com. Ⅲ

THE MINIMUM THAT BERNIE MADOFF allegedly paid Austrian banker Sonja Kohn for $62M feeding fresh investors into his notorious Ponzi scheme, according to a lawsuit filed by trustee Irving Picard. The suit says Ms. Kohn was likely paid “far more,” but Mr. Madoff destroyed records revealing the amount before confessing two years ago. bloomberg news

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NEIGHBORHOOD JOURNAL

wall, but it’s getting closer and clos- Regarding BIDS, S.I. doesn’t get it er,” Ms. Meeker says. Recent cuts to city services such as buses have an- gered potential members and vard.“People ask me,‘Why should I properties. The promise of holiday neighborhood unity and, more im- turned them against the idea. Merchant distrust, be paying extra when I don’t even get lights, networking events and more portant, pay economic dividends, But there’s another problem. lack of critical mass what I’m paying for?’ ” street cleaning do not persuade him. Ms. Meeker says. Though Ms. Meeker has provided Generally,a BID’s revenues come “We’ve been through a down- her expertise to help get the BID off leave borough with 1 from member property owners, who Coming together turn where there are a lot of vacan- the ground, the steering committee pay an annual assessment along with THE FOREST AVENUE BID collects cies along every commercial strip,” now needs to take the lead in selling improvement district their property tax and pass the added about $150,000 in yearly assess- she says. “Drive along Forest Av- the idea to businesses, and she’s not fee on to business tenants. ments. That supports a marketing enue; we have new people coming sure it can. BY DANIEL P. TUCKER Angelo Pappalardo, vice presi- campaign and an anti-graffiti initia- in.” “The most important thing is to dent of Century 21 Papp Realty, es- tive, as well as street cleaning, holi- Meanwhile, the 3-year effort to have a very dynamic steering com- ERCHANTS IN Chi- timates that a Victory Boulevard day lights and a twice-yearly meet- create a Victory Boulevard BID is mittee,”Ms.Meeker says.“If it’s not natown, NoHo and BID would cost his family as much and-greet. nearing the make-or-break moment. willing to go out and talk to the ones downtown Brook- as $2,500 for each of their several These services and events foster “We haven’t hit a complete brick that are reluctant,it won’t happen.”Ⅲ lyn are forming business improve- Mment districts to help attract cus- tomers, raise property values and brighten their neighborhood’s eco- nomic future. But Staten Island is practically a BID no man’s land, with only one of the city’s 64 such districts, Forest Avenue. And three recent at- tempts—on New Dorp Lane, on Bay Street, and in Great Kills— foundered, frustrating local busi- nesses and community leaders. A Real Chance to “Businesses are losing out,” says Linda Baran, president of the Stat- en Island Chamber of Commerce. Pursue Opportunity Most island merchants are some- what unfamiliar with BIDs and as- sociate them with Christmas lights and street sweepers rather than with economic benefits, according to ob- servers. Its merchant groups, often precursors to BIDs,are weak, and the bor- ough has few of the dense busi- ness clusters necessary to create improve- ment districts. ‘Businesses “It’s not Brooklyn; it’s are losing not Manhat- out’ tan,” says Ka- —Linda Baran millah Hanks, president of the executive di- Staten Island rector of the Gary Melius Downtown Chamber of Owner Oheka Castle Commerce Staten Island Council. “It’s and State Bank Client really like a mixture of the city and New Jersey.” Ms. Hanks wants to organize a BID, but businesses are spread so thinly across the four town centers of St. George, Tompkinsville, Sta- pleton and Clifton that it’s difficult to choose a target area. Downtown merchants must be Put Your Business in a Be er State. educated about potential gains be- Every day provides new possibilities to prove dreams can be realized. fore a BID can be proposed, Ms. Hanks says. “If you present a BID State Bank supports this visionary spirit with real people and real solutions right away, the first question is go- ing to be, ‘Why? What’s it going to that free your business to pursue opportunity – to imagine, to plan and do for me?’ ” expand. You’ll nd proven expertise, genuine  exibility and a relationship Outsized burdens focus that inspires trust. More than bankers, we’re business people, PROPONENTS SAY there’s another im- pediment: Residents have “an island listening, learning and responding to your needs, so you can take on mentality” and feel overtaxed be- tomorrow.  is is the power that comes from pu ing your business in a cause of transportation and sanita- 516.465.2300 tion services they say primarily serve be er state. Opportunity is calling. Let’s get to work www.statebanko i.com people in other boroughs. “It’s a very hard sell,” says Susan Meeker, who founded the Forest Avenue BID and has assisted with a proposal for one on Victory Boule-

December 13, 2010 | Crain’s New York Business | 5 20101213-NEWS--0006-NAT-CCI-CN_-- 12/10/2010 6:10 PM Page 1

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preparing to.The big question, of Eataly’s recipe for a revival course, is whether the indies can VER SINCE it opened in August, Italian superstore persuade customers to use their online sites rather than Amazon EEataly has attracted throngs of foodies who share or BarnesandNoble.com. bites of crudo or pizza, drink wine by the glass and “Our store has a very specific B7$!?7))!%#$2*0#!1#(=!&?!9$&?#%%*&'()%!&??#$%!1.#!%9#0*()18!$#%&7$0#%!(',!$#(0.!&?!(!6)&@()!!!!!!!!!!!!!!! personality,” says Christine Onorati, &$6('*+(1*&'!()&'6%*,#!1.#!9#$%&'()*+#,!%#$2*0#!8&7R,!#;9#01!?$&=!(!)&0()![$=-!())!($1?7))8!,#)*2#$#,! perhaps purchase fresh ciabatta to take home. with transparency. Even co-owner Mario Batali (below) is surprised by the owner of Word. “What we’re D.#1.#$!8&7!($#!(!0&=9)#;-!=7)1*/'(1*&'()!&$6('*+(1*&'-!&E'#$/=('(6#,!@7%*'#%%-!&$!.*6.!'#1!E&$1.! frantically working on now is *',*2*,7()-!E#!#;(=*'#!8&7$!6&()%!?$&=!())!('6)#%!(',!9(*'1!('!(007$(1#!9&$1$(*1!&?!8&7!(',!8&7$! rousing success of the Italian market at 200 Fifth Ave., at West having the home page of our site @7%*'#%%!1&!67*,#!8&7!1&E($,%!['('0*()!%700#%%A , which he says is lifting retail rents all around it. show that same personality.” For more information contact: Not everybody is rushing into F*01&$!D(.@(-!"($1'#$ “If I was smart, we would have rented all the retail space 212.375.6895 Google’s e-arms. “All revenue [email protected] in the neighborhood. Real estate has doubled streams are welcome,” says Bob 135 West 50th!G1$##1-!H#E!I&$5-!HI!JKKLK [since we opened],” boasts the celebrity chef. Contant, co-owner of St. Mark’s www.weisermazars.com Visit us on LinkedIn. Well, that may be a slight exaggeration. Bookshop in Manhattan. “But Even so, Mr. Batali’s booming business is we’re still sorting it out.”

WeiserMazars LLP is an independent member firm of Mazars Group having an impact. Brokers say area rents have risen 15% thanks to Eataly. In Doing good fact, two long-vacant spaces at while shopping nearby 1 Madison Ave. were just SHOPPERS LOOKING to impress snapped up by two restaurants, their friends and help the world self-service diner Schnipper’s this holiday season might want to Quality Kitchen and wine buy their gifts through GoodShop.com.The search bar Gustavo America.The engine, which connects the deals closed near the asking philanthropic-minded with the price of $85 a square foot. sites of popular retailers such as Macy’s, Amazon and Ralph “We worked off the fact Lauren, now boasts 1,600 that Eataly is open,” says Ariel partners, or 14% more than it had Schuster, one of the brokers at last year. Robert K. Futterman & GoodShop, which earns commissions, gives an average of Associates involved with both 3% to 4% of each sale to a transactions. “That was really nonprofit of the shopper’s choice. helpful in getting people to pay It is affiliated with the rents.” GoodSearch.com, which donates newscom a penny per search to charity— sale or no sale. site. “We will create a new line of “We’re trying to add retailers Beer bistro on tap beers,” says Mr. Bloostein, who is all the time,” says JJ Ramberg, who for Chelsea seeking space in Chelsea. He adds co-founded both ventures with that other brands may also be sold her brother Ken Ramberg. “We HEARTLAND BREWERY was a there. want to make it as easy as possible  B EE trailblazer in 1995, when it Despite Heartland’s lack of for people to help good causes.” opened its first brewpub in Union cool, the restaurateur is still hot on DEEE A AD ECE. Square. Six restaurants later, that business, which has seen a Contributors: Lisa Fickenscher, hipsters see Heartland as a chain healthy revenue uptick in 2010. Matthew Flamm, Adrianne Pasquarelli and steer clear. “We come off as a He expects to open three more of E CA ' E    E EA . little too commercial for young the pubs over the next three years,ES BEYND AIRWONDO AIRWAVESV possibly near the new World Trade Center STEVE VAN ZANDT, who plays and on the Upper West guitar with Bruce Springsteen Side. Heartland may and played Silvio Dante on The even debut its first far- Sopranos, is also host of Little C' EE CALE DA    % flung location, in     %!  "%    Steven’s Underground Garage— Washington, D.C. now the most popular syndicat- !  %! $  " .    ", ed rock show on the radio. Its ! -%    #     %!, Bookselling weekly audience of more than  " ,,  $! $ !  %! by Google 1.2 million in 2010 is a record  "  !  %,,    . and a 16% increase over 2009. INDIE BOOKSTORES are jumping on the Google Sources say the eBooks bandwagon, maestro is work- hoping to cut into ing on digital $$ ' !! ( #+ ()&' # %$'( -$)& #,( *#(, Amazon.com’s digital platforms so people,” says founder Jon Bloostein. dominance, even just a little. listeners & #'+-$ ."/*( $ ($ +++.& #'#+-$&. .$"/*#(' To appeal to the millennial Word, Greenlight and The can hear generation, Mr. Bloostein plans to BookMark Shoppe, all in him wher- open a Belgian-style bistro, a new Brooklyn, and Posman Books in ever, when- concept, next year. Unlike Grand Central Terminal went live ever. Stay heidi gutman Heartland, the as-yet-unnamed with Google eBooks early last / tuned.

spot will serve beer brewed off- week, and insiders say others are nbc

6 | Crain’s New York Business | December 13, 2010 20101213-NEWS--0007-NAT-CCI-CN_-- 12/10/2010 7:56 PM Page 1

changed from Breuckelen to Brock- Brooklyn is defined by its creativ- is Brooklyn’s proximity to Manhat- land to Brocklin to Brookline to ity, its experimentation and its com- tan that has provided the borough the Brand Brooklyn Brookland to Brooklyn. Breukelen, munity,she insists,while Manhattan opportunity to grow into an interna- the C-less name that some local has the now-negative stigma of Wall tional brand, says Tom Potter, who Continued from Page 3 As more companies take up the companies have adopted, is the orig- Street and the ultrarich. The explo- co-founded Brooklyn Brewery with who has lived their whole life here,” Brooklyn name, the clamor for au- inal town in the Netherlands. sion of artisan sodas, handcrafted Mr. Hindy 22 years ago and is now says John D’Aponte,a Park Slope na- thenticity and distinction in a satu- pickles and tea-bergamot scented starting a beverage business called tive whose 6-year-old design firm, rated market gets louder. That’s one Manhattan transference soaps suggest a yearning for some- New York Distilling Co. BRDG,makes apparel,bags and fur- reason why Breuckelen Distilling HOWEVER it’s spelled, Brooklyn’s thing special—distinct from the rest “Brooklyn could be the cultural niture inspired by his time growing founder Brad Estabrooke opted for greatest brand strength is its stand- of America’s mass-produced big- center of most countries,but happens up in Brooklyn. the early Dutch spelling of the bor- ing as an authentically hip alterna- box culture. to neighbor a cultural mecca,” Mr. Mr. D’Aponte worries that the ough.“It harks back to historic times, tive to Manhattan, says Allison “Brooklyn has come to stand for Potter says. borough has lost its ruggedness and times when people actually made gin Womack, managing director of a quality of life, and that quality of The borough’s prestige will con- authenticity. “It’s a blessing and a from scratch,after purchasing the in- Doremus New York, a Manhattan- life has extended into quality of tinue growing, one company at a curse,”he says.“The reason Brooklyn gredients from their neighbors,” he based marketing agency. product,” Ms. Womack says. “The time, he insists. “Manhattan will al- is able to be commoditized is because says.“I liked that we were tipping our “The community has attracted products are seen as authentic,hand- ways have the weight and the power people like it.” hat to the history of it.” innovation and people who are in- crafted and pure.The people behind of money,”he says.“But increasingly, Perhaps too many people like it Just imagine the confusion if vested in the neighborhood,” says them are living in a big city but mak- Brooklyn enjoys the power of cool. lately. Brooklyn Burger was served owners really channeled the past: Ms. Womack, who has lived in ing that big city feel local.” For that reason I’m very happy to be with a lawsuit about six weeks ago by The borough name gradually Brooklyn for 20 years. Of course, there’s an irony here. It living and working in Brooklyn.” Ⅲ Major League Baseball on behalf of the Dodgers. The league’s lawyers claim the cursive writing of “Brooklyn” on the frozen- burger box too closely resembles the longtime logo of the Dodgers, who, of course, abandoned the borough more than 50 years ago. Alan Buxbaum,partner at Brook- lyn Burger, says the argument is over a location, not a name, and the com- pany intends “to fight.” The steak- house-style burger is sold at New Do you have to reach out to your banker? York Jets, Giants and Islanders games, and at New Jersey (soon-to- Or is it the other way around? be Brooklyn) Nets contests. More recently, the year-old Breuckelen Distilling Co. was hit with a lawsuit from Brooklyn Gin for producing a product called Breucke- len Gin that allegedly infringes on its trademark.Though Brooklyn Gin is “technically” headquartered in Mia- mi, founder Joe Santos says, all 20 of its accounts are in the New York area, with 15 in Brooklyn bars and stores. Late night

Continued from Page 2 Chernow says. “They order a ton of food and drinks, and our kitchen is going until 4 a.m.” Late hours are central to the Meatball Shop’s busi- ness plan, he says, as the average check per person is just $16. “In or- der to be profitable, we need to stay open as long as we can.” The Meatball Shop’s enormous popularity is rubbing off on its neigh- bors. Sales at Epstein’s, a 7-year-old bar and hamburger joint next door, are up 25% since the Shop opened 10 months ago. “Customers will have a You want a financial specialist who understands your world. A proven banking expert with a solid track record of couple of drinks here,while they wait ® for their tables next door,” says Erik helping businesses realize their financial goals. When you team with Union Bank, you’ll experience a more personal McManus, Epstein’s owner. banking relationship centered around your needs. Our relationship managers will put their knowledge and expertise Restaurateurs are making an extra to work to help streamline your treasury management operations and maximize profitability. So now a stronger effort to be good neighbors and avoid banking relationship is well within your reach. a tussle with community boards. The Lion has a full-time door- With Union Bank, the world can be an easy place to do business. Call us today. man to control the noise outside its Commercial Treasury Corporate & Institutional Specialized building. “He keeps the smokers Services: Treasury Services: Financial Services: from congregating, the cabs from honking and the cars moving—so Les J. Goodwin Tim Farrell Robert Dawson that they don’t double-park,” Mr. Senior Vice President Vice President Senior Executive Vice President 213-236-5159 917-639-4437 213-236-4229 DeLucie says. Nightclubs are also noting the late-dining trend.Mr.Seres is open- ing two clubs in the fashion district in which he plans to build full kitchens that will serve until 2:30 ©2010 Union Bank, N.A. a.m. At his previous club, Sol, food- Union Bank is a proud member of the Mitsubishi UFJ Financial Group (MUFG), one of the world’s largest financial organizations. unionbank.com cart vendors set up outside to feed ravenous partiers. Now,he says,“I don’t want my cus- tomers leaving if they get hungry.” Ⅲ

December 13, 2010 | Crain’s New York Business | 7 20101213-NEWS--0008-NAT-CCI-CN_-- 12/10/2010 7:06 PM Page 1

Walmart, the five borough chambers of commerce, the Partnership for New York City and AID TO CUOMO From Right, Obama THE INSIDER the Economic Development Corp. PRESIDENT BARACK OBAMA’S freezing the salaries of federal workers in the were invited, but none has run-up to his deal with Republicans to extend the Bush tax cuts will help by Erik Engquist and Jeremy Smerd committed. “If the hearing is just a Governor-elect Andrew Cuomo freeze pay and reduce benefits of state show designed to send Walmart a workers or lay them off altogether, a Democratic insider says. signal they’re still not welcome in “One of the many things the Right has done incredibly successfully is New York, I’m not interested in frame the debate on a terrain where government workers need to essentially being part of that,” says Kathryn rationalize their existence,” the insider says. “Obama’s move to the center has Wylde, president of the Partnership. given Cuomo air cover to maneuver in his dealings with the teachers and “It sounds like it’s going to be a other public employee unions without getting killed by his left flank.” Walmart backers circus.” The Public Employees Federation has tried to rally the public with print ads Steven Restivo , Walmart’s director showing a worker’s empty desk—not a particularly frightening image, and of community affairs, says that with indeed a welcome one to voters who believe government work forces are more than 700 large grocers and bloated. A CSEA spokesman says it is willing to work with Mr. Cuomo to fear a ‘circus’ retailers, including 10 non- balance the budget but says he should remember that state employees unionized Target stores, in the city, “make the governor look good” and that “if you wage war on your employees, HE POSTPONEMENT last week of an upcoming there is ample evidence that big-box stores have helped the local you’re not going to get very far as the boss.” City Council hearing on Walmart’s latest attempt economy.Walmart has not yet The rightward political shift, including the to establish a New York store has given supporters decided whether to attend the Republicans’ retaking the majority in the state and opponents more time to ready their battle hearing. It continues to search for Senate and the Democrats’ loss of a veto-proof plans. sites and may ultimately choose one majority in the Assembly, could force Assembly that doesn’t require council approval. Speaker Sheldon Silver to accept some fiscal TThe much-anticipated “When Walmart Comes to Town” conservatism from Mr. Cuomo, says Conservative hearing was supposed Party Chairman Michael Long. “ to occur Tuesday, but Chancellor If the governor, Senate and Assembly minority are the council rescheduled Moskowitz? in line, and [Mr. Silver] has some Democrats in conservative districts concerned about the next it for Jan. 12, citing the AN INSIDER says before Cathleen Black election, he could say, ‘Look guys, we don’t have the need for a room change. was hired as schools chancellor, a votes, and we’re going to have to go along with the A preliminary list of non-City Hall intermediary for program,’ ” says Mr. Long. “It could make life easier Mayor Michael Bloomberg reached for him.” people planning to out to charter school founder Eva

appear before the three Moskowitz, a former City Council bloomberg news committees hosting the Education Committee hearing includes such chairwoman, to gauge her interest. reported of Parks & Recreation.

bloomberg news Ms. Moskowitz says, “Although I that Mr. Bloomberg also reached The agency lowered revenue opponents as retail am flattered by the rumors, I was out to Geoffrey Canada, chief projections by $3.9 million when it union chief Stuart Appelbaum; a consultant for Gristedes never offered the position.” executive of the Harlem Children’s abandoned plans to sell the naming supermarkets; and David Merriman, a professor of economics at Ms. Moskowitz has education Zone, a network of charter schools. rights for major city sites and to the University of Illinois at Chicago. Mr. Merriman authored credentials and would not have build an indoor tennis court in required a state waiver. But her . a study arguing that a Chicago Walmart has not increased advocacy of charter schools has Sampson could The fee increases are projected local employment or retail activity. made her a lightning rod. be vulnerable to bring in an additional $3.9 million. THE 16 VOTES NEEDED to keep John Sampson (below) as the leader of the Democratic conference in the state Hybrid taxis Senate could vaporize in coming outperform weeks. By one insider’s count, Mr. Sampson is assured only of about 14 PERFORMANCE DATA on hybrid taxis votes, including his own. His most don’t support claims by the dependable backers include Eric Metropolitan Taxi Board of Trade that Adams,Tom Duane, Ruth Hassell- hybrids not built to operate as taxis Thompson, Shirley Huntley, present “numerous safety concerns” Velmanette compared with purpose-built gas Montgomery, Bill guzzlers. Between 2006 and 2010, Perkins, Kevin 67.8% of hybrid taxis passed their Parker, Malcolm Taxi & Limousine Commission Smith, Daniel inspection, compared with 55.8% of Squadron,Toby regular cabs.The TLC inspected Ann Stavisky and 143,844 gasoline cabs and 20,737 Andrea Stewart- hybrids in that time. Cousins. A spokesman for the taxi trade But a few supporters are less than group points out that their gasoline solid, so “John’s 14 could quickly fleets run 24/7/365, while most become 10 or 11, and then it might nonfleet cars run single shifts. as well be two,” the insider notes. The case against Mr. Sampson is simply that he led the Democrats Gennaro’s plans to defeat. Republicans will reclaim CITY COUNCILMAN James Gennaro, the Senate majority next month D-Queens, held a fundraiser after two years of Democratic rule. recently in Fresh Meadows and asked for checks payable to Jim Gennaro for New York, one of his Dept. of Parks seven campaign funds. His & Lost Revenue invitation says contributions are limited to $9,500—the amount an THE BLOOMBERG administration’s individual may donate to a general proposal to raise recreation center, election state Senate candidate. Mr. tennis court and ball field user fees Gennaro ran for Senate in 2008, appears intended to make up for narrowly losing to Republican Frank revenue forsaken by the Department Padavan. Ⅲ

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

8 | Crain’s New York Business | December 13, 2010 20101213-NEWS--0009-NAT-CCI-CN_-- 12/9/2010 7:47 PM Page 1

SMALL BUSINESS

ated handheld electronic versions of stalwarts like Rubik’s Cube, Intel- What’s old is new, and fun, again livision and ColecoVision, taking advantage of chip technologies at and play industries. affordable prices. Toy makers update Like Pressman Toy, LIKE BEFORE: Toy Consumers are biting. The In- some of the dozen-plus maker Jim Pressman tellivision line, which has 25 games classic games; sees nostalgia behind toy makers that remain the resurgence. built in, has sold more than 3 mil- parents share them in New York are profit- lion units at $10 to $15 each, ac- with their kids ing from parents’ desire cording to Techno Source President to share the toys they Eric Levin. loved as children with “We’re bringing back classic BY EMILY SACHAR their own kids. Thanks games that people remember from to a campaign that when they were kids, in formats T’S BEEN DECADES since Mas- Hasbro, the maker of their own children can appreciate,” termind, a board game based Monopoly, has run Mr. Levin says. on code breaking, became a since 2008, some are hit for Manhattan-based also tapping into the Video replays Pressman Toy Corp. So Pres- popularity of Family TECHNO SOURCE is also focusing on Iident Jim Pressman has been Game Night, a time for reinventing tried-and-true video thrilled to see spinoffs like Ultimate parents to connect with games to buck the trend of declining Mastermind and children’s stacking their children over fa- sales in the video arena. For in- game Animal Mastermind Towers vorite games. stance, it plans to release both elec- take off recently as the 1970s brand And with some con- tronic and nonelectronic tabletop experiences a resurgence. sumers showing early versions of Tetris—a puzzle game Fueling its growth? Nostalgia. signs of video-game fa- translated into more than 50 lan- “Parents remember the game, trust tigue, local makers of guages—in 2011. it and want to introduce it to their dolls, puzzles and board “Families want games that buck ennis kids,” says Mr. Pressman. With 10 games are happily sup- everyone can enjoy together, and employees in Manhattan and 25 in plying alternatives. 2008 and $21.4 billion in 2009— annual sales. “We stay on top of games have great play value for the New Jersey, the company expects According to the NPD Group, a Mr. Gottlieb notes. trends to deliver the playthings that dollar,” says Mr. Gottlieb. $40 million in sales in 2010. market research firm, U.S. retail Nonetheless, to make sure their children and parents want, and While parents may get excited The International Toy Center at sales of video games in 2009 were sales keep up with rising rents and every one of us is keeping up,” he about the toys of the past, with chil- 23rd Street and Broadway may be about $19.7 billion, an 8% decline the general cost of doing business in says. dren as young as 8 now turning to long gone, but New York’s toy in- from 2008. New York,local toy makers have had To reach reminiscing parents, mobile Web devices and handhelds dustry has held up remarkably well. to keep themselves nimble, says Jeff Pressman Toy is promoting more for fun, local makers of classic toys As the industry becomes increas- Into the digital age Holtzman, chief executive of Gold- than a dozen games that might be have had to do a bit of rethinking ingly global, many of the companies FORTUNATELY FOR Pressman Toy berger Co., a Manhattan manufac- considered retro products, includ- about the customer base. that continue to thrive here are rid- and its competitors, the recession turer with more than $10 million in ing Rummikub and Tri-ominos, Goldberger, for instance, has fo- ing three key trends, says Richard hasn’t been as painful for toy manu- which have been around in various cused its doll production on prod- Gottlieb, chief executive of USA facturing as it has been for other To sign up for Crain’s versions for as long as 40 years. ucts that appeal to newborns to 3- Toy Experts,a consulting firm based fields. Toy industry sales have been SMALL BUSINESS newsletter, go to Techno Source, a toy company year-olds, rather than girls who are in New York,and publisher of Glob- essentially flat over recent years— www.crainsnewyork.com/smallbiz. that has 18 employees in its U.S. a little older. “We are not standing al Toy News, an e-zine for the toy 22.1 billion in 2007, $21.7 billion in headquarters in New York, has cre- still,” says Mr. Holtzman. Ⅲ

Real Estate Deals Plus Divide, conquer building, between East 51st and East 52nd streets, are $49 a square LEADERS AND in garment district foot, according to CoStar Group. LAGGARDS Wolf Popper sought to take ad- Players powering JUST SIX MONTHS AFTER its founding, vantage of the market’s lower rents, Percentage-point change in rental apt. Integrated Access Realty has signed says Daniel Horowitz, a broker at vacancy rates in Nov. vs. a year earlier. a 15-year lease at 1385 Broadway and Studley who represented the tenant Battery Park City/Financial Dist. subdivided 13,700 square feet on the with colleague Ira Schuman. up CMBS 2.0 fourth floor into 28 showrooms. All “This is a good time for tenants -1.03 , to 1.19% have been leased,and tenants will be- to extend,” Mr. Horowitz says. Manhattan average HE REVIVAL OF THE COMMERCIAL gin moving in after Jan. 1. The landlord, Rudin Manage- mortgage- “We’ve built state-of-the-art ment, represented itself. backed securities market is expected to accelerate showrooms for shoes and acces- —theresa agovino -0.58 , to 1.29% next year. sories,” says Jack Gabay, who co- Midtown West New issues had a slow start this year but picked founded Integrated Access with Al- bert Nigri. Mr. Gabay, a broker at Another gallery -0.21, to 1.23% up from the dismal pace in 2009.Through Millennium Realty Group at the in West Chelsea Source: Citi Habitats November, $8.3 billion worth of CMBS had been issued, four time of the lease-signing,represent- T FURTHER CEMENTING times as much as last year’s total, according to a report by Jones ed his company. Jonathan Serko of West Chelsea’s Cushman & Wakefield negotiated reputation as a visual arts center, the Earl Bateman of Rice & Associ- Lang LaSalle.The brokerage firm expects this year’s total to on behalf of the landlord, B. Bros. 3-year-old ArtGate Gallery is leas- ates negotiated for the tenant. end up at $10 billion. Broadway Realty, an affiliate of ing space in the neighborhood. —adrianne pasquarelli Meanwhile, Wall Street banks are lining up deals to market Bloomingdale Properties. The ask- The business recently signed a early next year. Jones Lang LaSalle predicts $8 billion of new ing rent was not disclosed. 10-year deal for 2,000 square feet on 520 W. 27th St. Gallery plans short CMBS will be sold in the first quarter of 2011, and Citigroup Showroom tenants’ rents range the ground floor of , from $1,100 to $3,000, including between 10th and 11th avenues. stay on W. 22nd St. forecasts the entire market at between $25 billion and utilities and other services. Asking rent for the space, which in- $41 billion for all of next year. Integrated Access is also working cludes a 700-square-foot mezza- ART GALLERY Chair and the Maiden “A lot of people refer to the new issues as CMBS 2.0,” says on a third-floor showroom facility. nine and a 1,500-square-foot back- has signed an 18-month lease for —marine cole yard, was $72 a square foot. 1,000 square feet on the ground Dustin Stolly, senior vice president in Jones Lang LaSalle’s “There are very few ground-floor floor of 500 W. 22nd St. real estate investment banking group.The structure of recent retail properties for galleries,” says Chair and the Maiden will move Law firm remains Roxanne Betesh. She represented in Jan.1.The rent is $6,000 a month. transactions is more conservative Most surviving Wall Street in- in longtime spot the landlord, NDSM Holdings, Square Foot Realty brokers than it was at the ruinous top of the vestment banks that were involved in along with fellow Sinvin Real Estate Aaron Gavios and Howard Aaron market in late 2006 and early 2007, issuing CMBS before the crisis are WOLF POPPER has just renewed its broker Christopher Owles. represented landlord Srep 10th Av- he says. The deals are generally not getting back into the activity and staffing lease at 845 Third Ave.—its home for ArtGate is in the process of mov- enue Venture. Sam Zagoren, also of as highly leveraged as they were,and up in anticipation of a rebound in 40 years—for another decade. ing into the space, which formerly Square Foot,negotiated on behalf of special servicers have less power in a business, Mr. Stolly says. The asking rent for the deal was housed another gallery. The first the tenant. restructuring. —marine cole not disclosed. Average rents in the show there is planned for January. —marine cole

December 13, 2010 | Crain’s New York Business | 9 20101213-NEWS--0010-NAT-CCI-CN_-- 12/10/2010 1:22 PM Page 1

VIEWPOINT Antenna debate unconnected editor in chief Rance Crain publisher, vp Jill R. Kaplan WO DEMOCRATS on the City Council are would be pressured not to lease space for cell towers.The on a mission to have a say in where cell- wireless companies are even more upset.They say such EDITORIAL editor Xana Antunes phone towers are erected. Lew Fidler of regulations would hamper their ability to build and upgrade managing editor Glenn Coleman Brooklyn has a bill to require wireless their networks, and warn that they could lead to vigilante- deputy managing editors Valerie Block, Erik Ipsen companies to notify the local council style vandalism.They even cite public safety, noting that 911 contributing editors member and community board when they calls from mobile phones depend on antennas. Elizabeth MacBride, Elaine Pofeldt columnists Greg David, Alair Townsend apply for permits to install antennas— These arguments are overstated. Communities raise little politics editor Erik Engquist giving locals a chance to complain should they find them fuss about antennas, so protests would be rare. But that’s the pulse editor Barbara Benson senior reporters Theresa Agovino, offensive. Motivated by ill-defined health concerns, Peter point. Notification requirements are justified for projects Aaron Elstein, Lisa Fickenscher, T Matthew Flamm, Miriam Kreinin Souccar Vallone Jr. of Queens would go further. His bill calls for that entail significant change. Cellular antennas fall short of reporters Marine Cole, Amanda Fung, carriers to put their towers in industrial areas or explain why that and do not deserve to be singled out. Both bills are Daniel Massey, Adrianne Pasquarelli, Hilary Potkewitz, Jeremy Smerd a residential zone is the only option. Mr. Vallone also wants examples of regulatory creep. Mr. Vallone’s attempt to art director Steven Krupinski towers to be clustered. restrict antenna locations goes too far, and Mr. Fidler’s more deputy art directors Carolyn McClain, Daniel Mednick Real estate groups object, as they fear building owners modest bill is unnecessary. staff photographer Buck Ennis copy desk chief Wendy Zuckerman copy editor Thaddeus Rutkowski assistant research editor Suzanne Panara editorial intern Laura Mortkowitz Albany still not out of the gate on new reality www.crainsnewyork.com senior producer Elisabeth Butler Cordova producer Kira Bindrim THE LEGISLATURE’S FAILURE last week to save the city’s Off- the Republican leadership, GOP Sen. Hugh Farley, who had EDITORIAL AND ADVERTISING OFFICES Track Betting operation reveals that Albany is as broken as previously indicated support for the measure, abstained to 711 Third Ave., New York, NY 10017-5806 ever.The immediate fault lies with Senate Republicans, who ensure that it would fall short. editorial: 212.210.0277 Fax 212.210.0799 advertising: 212.210.0259 contributed just two of their 30 votes to a sensible The point was to deny Democrats an accomplishment. Cable craincom nyk restructuring plan that would have kept the operation from Partisan politics at its worst. A thousand workers lost their Fax 212.210.0499 Entire contents ©copyright 2010 Crain shutting down. jobs, with collateral job losses to follow, and taxpayers were hit Communications Inc. All rights reserved. ®CityBusiness is a registered trademark of MCP The GOP resorted to the kind of tactics that have so with more than $500 million in pension and shutdown costs. Inc., used under license agreement. exasperated New Yorkers. Republicans first tried to create Democrats, of course, should have acted months ago to TO SUBSCRIBE: political cover by introducing their own OTB bill at the last allow OTB to close its underperforming locations, reduce Call 888.909.9111; fax 313.446.6777. minute—a nonviable, back-of-the-envelope effort that was labor costs and develop new revenue streams. But last week’s $3.00 a copy, $59.79 one year, $109.79 two years. www.crainsnewyork.com too late in any case. Nobody was fooled. fiasco shows that lawmakers have not gotten the message They then blamed Democrats for advancing a bill without that the public is fed up with Albany.That is deeply ADVERTISING AND MARKETING advertising director Trish Henry having 32 votes to pass it. But only 29 Democratic senators troubling and augurs poorly for 2011, when there is important senior account managers were present for the vote, and it had been known for weeks work to be done on the state budget, ethics reform, Irene Bar-Am, Courtney McCombs, William E. Squitieri account executive that Republican votes were essential. After consulting with redistricting and job creation. Anthony Mowad sales manager, classified print & online John Gallagher sales coordinator, print & online Lulé Haznedari newsletter product manager COMMENTS Alexis Sinclair DO YOU THINK credit Todd J. Masura 313.446.6097 marketing director Amy Crossman MAYOR BLOOMBERG assistant marketing manager Sabra Harrison WANTS TO RUN director, audience development On the cutting edge John LaMarca FOR PRESIDENT? senior audience development manager SNIP middle-class families: clean streets and parks, Tarek Cotran Date of poll: Dec. 9 efficient policing and fire protection, youth and 159 votes ALAIR TOWNSEND general manager, interactive offers a timely call to arms for senior services, and libraries. Untouched is the Marc Minardo our elected representatives to move forward mayor’s relentless campaign to paint a bike web developer, interactive Yes. He has (“Budget-cutting, without apologies,” Nov. 23). path on every street and block in New York. Chris O’Donnell

the billions . 64% The not-in-my-backyard refrain may still —patricia dolan and the belief resonate with unions, teachers and even President, Queens Civic Congress NEW YORK PRODUCTION in himself to taxpayers, but it’s time for American leaders to Flushing production and pre-press director

make a third- Michael Corsi

party bid for look deeper and take harder lessons from 36%. advertising production manager the White California and the European Union. BACKING BLACK Suzanne Fleischman Wies House. The costs of unfunded obligations to civil service workers will decimate local, then state, SCHOOLS CHANCELLOR Cathleen Black does PUBLISHED BY CRAIN COMMUNICATIONS INC. No. He realizes then federal budgets. Actuarial tables don’t lie. not have to be an educator to hire committed chairman Keith E. Crain he’s the longest We cannot sweep it under the rug and hope teaching, administrative and buildings staff; to president Rance Crain of long shots. that some new, Microsoft-like economy will lead employees toward high expectations and secretary Merrilee Crain treasurer Mary Kay Crain make the historically bad contractual decisions goals; or to engage parents’ daily participation executive vp, operations William Morrow fade away. When there is no more water, no one in their children’s studies. senior vp, group publisher Gloria Scoby can drink. She does have to be an outstanding group vp, technology, circulation, —thomas n. mina manager, believe public education is a moral manufacturing Robert C. Adams vice president/production & right, and speak and write excellent English. manufacturing David Kamis SNIPPY She’s qualified. chief information officer Paul Dalpiaz —terry grace corporate circulation/audience CITY BUDGET CUTS cause an outcry not just development director Kathy Henry from civil servants but also from New Yorkers CRAIN’S WELCOMES SUBMISSIONS to its opinion founder G.D. Crain Jr. (1885-1973) chairman Mrs. G.D. Crain Jr. (1911-1996)

bloomberg news concerned by the downward spiral of the city’s pages. Send letters to [email protected]. For this week’s questions: Go to quality of life. Send columns of 475 words or fewer to www.crainsnewyork.com/poll to have your say. Somehow, with amazing accuracy, City Hall [email protected]. Please include the writer’s has targeted the services that mean most to name, company, address and telephone number.

10 | Crain’s New York Business | December 13, 2010 20101213-NEWS--0011-NAT-CCI-CN_-- 12/9/2010 7:58 PM Page 1

OPINION

study, along with its recommenda- tions, next month. New York airports Options being evaluated in- clude expanding runway capabili- OUR CLIENTS’ ties, diverting some passengers to high-speed intercity rail and uti- SUCCESS IS need an upgrade lizing nearby airports, such as Stewart and Islip. One suggested fix, capping the OUR SUCCESS BY WILLIAM RUDIN AND JONATHAN TISCH number of inbound and outbound flights at the three major airports, is ODY SCANNERS aren’t the only cause of airport delays short-sighted and will not bring the this holiday season. Here in New York, we suffer gains required. But the alliance is from a more fundamental problem: too much de- pressing for immediate deployment of updated navigation systems, mand and too little capacity. known as NextGen, which are ex- Over 100 million passengers a year move through pected to result in significant oper- ational improvements. John F. Kennedy International, La Guardia and Newark air- Some say success is found. B Upgrading facilities at JFK, La Charles Weinstein, CPA ports, which handle a third of the nation’s flights. Our airports, Guardia and Newark to world-class At EisnerAmper, we know Chief Executive Officer however, were not built to meet this demand and now rank as quality is an undertaking that will success is made. 212.949.8700 the worst nationally in delays. According to the Partnership for most likely require a long-term in- Howard Cohen, CPA vestment of $5 billion to $10 billion With nearly 1,200 professionals, Chairman New York City, costs to the region- munications, biotech, energy and in airport infrastructure and air 732.287.1000 al economy from flight delays media involve more air travel.Glob- traffic control. EisnerAmper lends our talent caused by congestion at our three al cities are defined not just by their President Barack Obama has and resources to help clients www.eisneramper.com major airports totaled more than population and gross domestic called for a substantial investment, succeed every day. $2.6 billion in 2008 and will reach product but by the quality and and governments worldwide have $79 billion by 2025. soundness of their infrastructure— recognized the need to enhance air- EisnerAmper LLP New York has some of the including airports. port capacity and build route net- Accountants & Advisors world’s greatest assets for attract- The Better Airports Alliance, a works that support international- Eisner LLP and Amper, Politziner & Mattia, LLP have combined their accounting, tax and ing business, trade and tourism. group made up of business and city development. advisory services practices. But with passenger counts expect- civic organizations focused on the New Yorkers need to rise to the New York New Jersey Pennsylvania Cayman Islands Independent Member of PKF International ed to continue climbing, we must metro region’s airports, is review- occasion and start planning for air- upgrade our airports to maintain ing various options to alleviate port expansion, or—to put it blunt- New York’s status as a world-class congestion and prepare for growth. ly—we will probably be left on the city. As part of the alliance’s initia- tarmac. Chris Cain, an expert in Euro- tive and in consultation with the pean airport policy, has found that Port Authority of New York & William Rudin is vice chairman and CEO the more economically advanced a New Jersey, the Regional Plan As- of Rudin Management Co., and chairman city, the greater the importance of sociation is quantifying gains in of the Association for a Better New York. airports. High-value activities such capacity from a range of possible Jonathan Tisch is chairman and CEO of as banking, business services, com- alternatives and will release a Loews Hotels.

have made the whole city safe, and not just those neighborhoods where Giving credit the wealthy live.The media has been filled with stories this year of sup- posed manipulation of crime statis- tics and controversy over the depart- where it’s due ment’s tactics, none of which get to the heart of the matter. Better eco- ITH 2010 DRAWING to a close, it’s time to offer nomic conditions, a growing popu- lation and calm on social issues thanks to people and institutions that made would all have been impossible this year one of recovery and hope. without the sharp reduction in To the tourists, who flocked to New York crime the NYPD has brought about. A special nod to Commis- in numbers so great that the city is now the sioner Ray Kelly, who has achieved No.W 1 tourist destination in the country. These visitors revived these gains despite a significant de- the city’s hotel, restaurant and retail sectors, spurring so many cline in the number of officers under hires that the city is creating jobs at three times the pace of the his command. To Google, which is about to pay $1.8 billion to own the building nation as a whole. To Mayor Bloomberg, where it houses 1,800 employees, so To Wall Street, which who continues to en- that it can continue to expand in makes the city what it gender confidence in New York. The decision sends a is—rich and prosper- the city, despite being loud and clear signal that New York ous—despite its scan- haughty and aloof at can compete for tech companies and dals and travails. Al- times. After nine years tech jobs as that sector grows in im- though not as dominant in office, the mayor has portance around the globe. as it was several years accumulated a growing To Andrew Cuomo, for seeking the ago, the securities in- number of critics. All of governorship with commitments to dustry still provides them should answer shrink the size of government and about 20% of all the in- this question: Is New confront the state’s fiscal problems, come in the city. While GREG York better or worse off which are strangling its economy. It we’re on the topic, no DAVID today than when he is refreshing to have a governor say one should forget the took office on Jan. 1, that only the private sector can solve role of Congress in pass- 2002? (By the way, all the state’s economic problems. Of ing the much despised bailout that those who despise Rudy Giuliani course, making promises is far easi- saved Wall Street and tens of thou- should ask themselves whether New er than fulfilling them. sands of jobs in the city, or the Fed, York is better or worse off today than Let us hope that Mr.Cuomo will whose ultralow interest rate policy in 1993.) deserve a thank-you at this time made the industry profitable again. To the members of the NYPD, who next year.

December 13, 2010 | Crain’s New York Business | 11 20101213-NEWS--0012-NAT-CCI-CN_-- 12/9/2010 7:48 PM Page 1

OPINION

rateur Joe Baum; Paul Calello, chairman of the investment Goodbye to some bank at Credit Suisse Group; restaurateur Elaine Kaufman; and Michael H. Jordan, the turnaround specialist credited great New Yorkers with reinventing CBS and Electronic Data Systems. Thomas Hoving, who died EW YORK LOST SOME 2010 remarkable figures in : peo- late in 2009, transformed the ple who enriched our culture,changed our skyline Metropolitan Museum of Art. and shaped our government. He attracted millions of people Real estate lost two giants—Robert Tishman to blockbuster shows such as the treasures of Tutankhamun and Paul Milstein. Mr. Tishman oversaw con- and titillated readers with his newscom, redux Nstruction of the World Trade Center as CEO of Tishman Re- tell-all book,Making the Mum- Deputy Mayor John alty & Construction.Later,with his then son-in-law Jerry Spey- mies Dance. Burton, schools er, he started Properties, which became Thomas Buechner directed Chancellor Nathan the Brooklyn Museum, over- We bid farewell to Lena Horne, George Steinbrenner, Quinones, Staten Island District Joan Sutherland, Robert Tishman, Paul Milstein, and seeing a renovation that ex- Percy Sutton (clockwise from left) Attorney William Murphy, City one of the largest real the Hall of Ocean Life panded its gallery space and en- Councilman Thomas White Jr., and estate companies in the at the American Muse- sured appropriate care for its Brad Race, chief of staff to Gov. world, acquiring such um of Natural History. collection. Lena Horne; jazz singer Abbey Lin- George Pataki. crown jewels as Rocke- The business com- Joan Sutherland and Shirley Ver- coln; Israel Hicks, director of August This year, the New York Yankees feller Center and the munity also lost Marilyn rett, two sopranos who thrilled audi- Wilson’s plays; and the author and lost both their owner, George Stein- . Laurie, former EVP of ences at the Metropolitan Opera, left composer of Fiddler on the Roof, brenner, and their public voice, Bob Mr. Milstein bet on public relations and the stage forever this year.The dance Joseph Stein and Jerry Bock. Sheppard. the city’s regeneration, brand management at world lost Denise Jefferson, director Ted Sorensen, counselor and Judith Peabody was in a class by undertaking projects in AT&T; Clifford Grodd, of the Ailey School, and Jonathan speechwriter for President John herself.The elegant socialite and arts areas such as Times CEO of Paul Stuart; Wolken, a founder of Pilobolus Kennedy,will be remembered for his patron founded a drug rehabilitation Square in the late 1970s Robert Joffe, partner at Dance Theater. The stereotype- soaring prose that precisely fit the center in Harlem and was active in before others deemed ALAIR Cravath Swaine & breaking sculptor Louise Bourgeois occasion. Government also lost for- raising money for and providing care them marketable. Mr. TOWNSEND Moore; Arthur Emil, died at age 98. mer officeholders: Manhattan Bor- to AIDS patients. Milstein also left his lawyer and operator of Several figures from the entertain- ough President Percy Sutton, Con- And First Lt.Joseph J.Theinert of mark on New York with the Rainbow Room and ment world took their last bows in gressman Steve Solarz, judges Sag Harbor was killed in Afghan- his philanthropy, which included Windows on the World with restau- 2010, including the luminescent Burton Roberts and Morris Lasker, istan. He was 24. Ⅲ

Meet Julie Amsden.

Hammondsport native. Mom. Local landowner. Supporter of natural gas.

“I’m very excited about natural gas drilling. It’s clean gas. It’s highly abundant. And the potential in this region is huge. Drilling would bring a huge economic benefit to New York State, not only in terms of generating tax revenue, but also in terms of jobs—creating jobs in this area and bringing people to this area. It’s just a huge economic opportunity that I think we, as upstate New Yorkers, need to capitalize on.”

To learn more about natural gas in our communities, visit www.FriendsOfNaturalGasNY.com

12 | Crain’s New York Business | December 13, 2010 20101213-NEWS--0013-NAT-CCI-CN_-- 12/9/2010 6:18 PM Page 1

CORPORATE PHILANTHROPY INSIDE Sideline businesses can help generate profits, but can take away from the fundraising mission PAGE 14 List The largest nonprofits in the New York area, ranked by operating expenses PAGE 16

STILL GIVING: Bank of America’s philanthropic budget has remained the same through the recession, says Jeff The new Barker. power patrons Are the arts good for business? Handful of companies think so

All do it, of course, not only with BY JUDITH MESSINA a keen eye toward burnishing their brands and reputations, but also IN A BANK OF AMERICA television with a hardnosed conviction that commercial that aired here in Sep- the arts are vital to the city—and tember, viewers didn’t hear about that a prosperous, vibrant city is low fees or free checking, or even good for business. about great customer service. In- “We have to make sure that the stead, they learned how cultural vibrancy of New York City BofA helps ordinary New remains intact,” says Jeff Barker, Yorkers experience the BofA’s New York City president. city’s cultural life at insti- “We know that as communities tutions like the Brooklyn grow, so does business.” Academy of Music, the Intrepid Sea,Air & Space Hard to say $2M Museum, and Free Arts STILL, corporate givers are increas- AMOUNT the NYC, a tiny organization ingly picky about what they support bank will spend that runs programs for with precious philanthropic dollars on the arts in poor,often homeless chil- and, other than affirming an ongo- NYC this year dren and families. ing commitment to the arts, are re- Indeed, access to the luctant to predict what they might arts is a major theme for a do in the years to come. handful of companies that “If you have programs that work make up a new arts guard for the companies’interests and if you in New York City. They have a good track record, you have a include BofA, Deutsche good chance of being supported,” Bank and Target, all of says Karen Brooks Hopkins, presi- which are focusing a significant por- dent of the Brooklyn Academy of tion of their local giving on the arts, Music, which lost several hundred even as corporations nationwide are thousand dollars in annual grants directing their dollars to arguably when Altria, a major donor to the more needy causes. By contrast, arts, decamped to Virginia in 2008. these corporate patrons have main- “But whether the arts are going to tained their level of giving, support- gain dollars from corporate budgets, ing not only major institutions but I think is a huge question mark.” increasingly smaller groups they be- For now at least, these corporate lieve can help revitalize the fragile supporters of the arts are bucking a

buck ennis communities they operate in. See THE NEW on Page 15

EMPLOYEES TAKE PART IN PHILANTHROPY major findings of a matched with 75 kids recent survey by the to make space A COUPLE OF YEARS AGO during the holiday Deutsche Bank provides financial support, its Committee Encourag- helmets, puppets, season, when Deutsche Bank was considering employees work with kids on arts projects and ing Corporate gingerbread houses organizations to support, it took the unusual step run marathons to raise money for the nonprofit. Philanthropy, in fact, and other crafts. It of asking its employees to help it decide. Nearly One bank executive now sits on Free Arts’ board. is that the percentage costs a company 2,500 U.S. employees voted, choosing Free Arts Increasingly, corporations are looking to of companies offering $5,000 to sponsor one NYC, a tiny, little-known organization in engage employees in their philanthropic employees paid time day of the program. Manhattan that runs a summer camp in the city activities, not just by matching their donations, off to volunteer, sometimes even during the “A lot of the corporations we talk to say and other arts programs for impoverished but by encouraging them to donate their time. In normal work day, increased to 64% in 2009, up they’re trying to engage [their employees] more children and families, many of them homeless. an era when money and other resources are steeply from 46% in 2007. and are looking for opportunities,” says Liz The vote expanded a small relationship the scarce, employee involvement multiplies what a Arts charities are tailoring some programs for Hopfan, executive director of Free Arts. “We bank already had with the organization, but it company can do for nonprofits that operate with employee volunteers. Free Arts runs Free Arts make it very easy.” also engaged employees as participants. While thin staffs and even thinner budgets. One of the Days on Saturdays, when 75 volunteers are —JUDITH MESSINA

December 13, 2010 | Crain’s New York Business | 13 20101213-NEWS--0014-NAT-CCI-CN_-- 12/9/2010 6:19 PM Page 1

BoardServeNYC.org REPORT GIVE BACK. Giving nonprofits CONNECT. a business edge Revenue-generating sidelines can help mission, but can also drain funds LEAD. BY STEVE GARMHAUSEN

GEORGE MCDONALD prides himself NEW YORK CITY: on running his human-services nonprofit, The Doe Fund Inc., like GIVE BACK IN A NEW WAY a business. He started his charity by organ- izing the homeless people who were living in Grand Central Terminal, Hundreds of nonprofit organizations in NYC, in all five boroughs, are seeking new board

putting them to work and paying buck ennis members – talented and committed individuals eager to share their skills and expertise. them for it, as a way to rehabilitate GOODIES: Chuck “The Baker” Piekarski and them and get them into homes and Karen Pearl of God’s Love We Deliver. BoardServeNYC connects nonprofit organizations with individuals who want to lasting jobs. give back through board service. By training people to work with- in its revenue-generating units—as Far from being a funding drain, BoardServeNYC accepts applications from potential board candidates and street cleaners,caterers and extermi- businesses within charities are often nators, for example—the 25-year- the engine of their missions. The NYC nonpofit organzations year round. old Doe Fund has helped transition visibility of the Doe Fund’s street 5,000 homeless or formerly incar- sanitation operation, which counts cerated people into permanent em- 11 business improvement districts Apply today. Visit BoardServeNYC.org to learn more. ployment.At the same time,the rev- in the city as clients, drives much of enue earned from those operations the nonprofit’s fundraising and job- covers 10% of the organization’s $50 placement success. PROUD PARTNER million annual budget. “We’re a not-for-profit busi- Surplus from catalog sales ness,”says Mr.McDonald.“But that ANOTHER NONPROFIT, God’s Love We GIVE. ADVOCATE. VOLUNTEER. doesn’t mean we’re not a business.” Deliver, runs a catalog business to Other nonprofits based in the raise money for its mission of helping LEAD CORPORATE city agree that operating a revenue- people living with HIV/AIDS. The LIVE UNITED generating business has helped nonprofit earns an annual surplus of SPONSOR them fulfill their missions. That’s about $35,000 through catalog sales unitedwaynyc.org why many local charities are upset of everything from Chuck’s Famous over a recent study from Pace Uni- Brownies—baked in the organiza- versity, which asserts that profit- tion’s SoHo kitchen—to wine glass- making activities within nonprofits es. That money is plowed into core may actually be draining money services such as nutrition education from the very programs they are and home delivery of meals, says meant to fund. Chief Executive Karen Pearl. The analysis of tax returns from But Ms.Pearl acknowledges that more than 100 Manhattan-based the catalog business was a money human-services nonprofits suggests loser as recently as 2006.Since then, that some may be using donor funds the organization has scrapped the to subsidize their unsuccessful side paper catalog and put the business businesses. The study’s author, Re- online. becca Tekula, executive director of “We evaluate very carefully every the Wilson Center for Social Entre- dollar we raise from our donors,” preneurship at Pace,says her finding says Ms. Pearl. “We’re all about en- applies specifically to nonprofits suring those dollars are well-spent.” that run businesses unrelated to The catalog’s money-losing past their core mission. “[Charities] provides a clue as to how tricky it can should think more carefully about be for nonprofits to run side busi- whether this really works for the or- nesses. Indeed, managing business- ganization,” Ms. Tekula says. es—especially those unrelated to core mission—can drain staffing re- 125 Broad Street Misleading results sources at a nonprofit, says Ms. Mc- Nonprofit organizations make a difference. Here’s an office building that BUT SOME OF THE NONPROFITS that Cambridge, adding that Ms. Teku- does, too. Your custom-built, state-of-the-art office environment awaits you in were included in the study say its la’s study raises important questions. the center of Downtown Manhattan. Everything an organization or business analysis of their tax returns was su- Many nonprofits do keep a close could ever want is right here, including 24/7 security, backup power, and perficial. They also complain it eye on their revenue-generating garage parking. Plus, this incredible location offers the convenience and could give the impression that all businesses. Last year, the American culture every professional desires. It’s your ideal opportunity to help support revenue-generating business ven- Foundation for the Blind stopped your cause and move up to Downtown. 15,000-277,100 sf available. tures are suspect, even those related selling its audio books, a side busi- to a nonprofit’s core mission. ness that was losing $500,000 a year, For more information contact: Even worse, some experts worry, according to Carl Augusto,chief ex- Christopher DeLorenzo l 201.986.1463 l [email protected] the potentially damaging report ecutive of the agency. Mark Ravesloot l 212.984.6667 l [email protected] could hurt donations during the Mr. Augusto cautions that rev- most important fundraising time of enue-generating businesses can cost the year. “It comes in the fourth an organization more than just quarter, as organizations are racing money. “Whenever you have a ‘side to get year-end appeals out,” says business,’ it can take the CEO’s and Ruth McCambridge, editor of The the staff ’s attention,” he says. Nonprofit Quarterly. “You’ve got to be careful.” Ⅲ

Exclusive leasing agent www.125broadstr.com 20101213-NEWS--0015-NAT-CCI-CN_-- 12/9/2010 6:19 PM Page 1

REPORT CORPORATE PHILANTHROPY

icy is to give 5% of its in- come annually to com- The new power patrons of the arts in NYC munities. Other major corpo- Continued from Page 13 rations are not giving out violins.” making it possible for 100,000 peo- Arts and the Staten Island rate donors to the arts in- national trend. Nationally, business Still, in New York City, where ple to see Shakespeare for free. Museum. clude Bloomberg LP, giving to the arts dropped 14% be- the arts are a big business and a ma- For some cultural corporate which recently put up tween 2006 and 2009. Only 28% of jor draw for tourists, corporations leaders in New York, such as Community focus $2M money to help make it businesses made any contribution allocated nearly 10% of their philan- Deutsche Bank, fostering creativity “WE LOOK for organiza- SPENT on arts possible for small dance to the arts at all in 2009, down from thropic dollars to the arts,according has been a decades-long commit- tions that do really great programs in companies to use the 43% in 2006, according to the most to CECP,nearly double the nation- ment. The Frankfurt-headquar- work in the community New York City Joyce Theater’s new re- recent survey by the Business Com- al average. A good chunk of that tered bank has a global partnership rather than for standalone this year hearsal space, and Amer- mittee for the Arts.In New York,an goes to prestigious venues like Lin- with the Guggenheim Museum and sponsorship opportuni- ican Express, which pro- informal survey of 15 companies by coln Center and the Museum of has been a sponsor of the past three ties,” says Alessandra vided $50,000 to the Arts the Arts and Business Council last Modern Art, but many in the new Whitney Biennials. Digiusto, chief adminis- and Business Council year showed them at best maintain- guard are also placing bets on small- Like BofA, Deutsche Bank will trative officer of the this year to train 22 aspir- ing flat contributions to the arts, er arts organizations that are or spend $2 million on arts programs Deutsche Bank Americas ing arts leaders. and at worst reducing their giving could be economic engines in the city this year, sup- Foundation. It’s almost impossible by 25%. in their communities. porting events, such as Target Corp., a relative to measure the impact BofA, for one, will the Metropolitan newcomer to the city’s small group that supporting cultural groups can Arts giving remains flat spend $2 million of its $9 Opera’s opening night, of devoted corporate arts sponsors, have on a corporation’s bottom line, SO FAR THIS YEAR, total corporate million New York City that resonate with its sees itself not just as a supporter of and corporations say they don’t ex- giving in all areas nationally is up philanthropic budget on corporate and high-net- the arts, but as a purveyor of good pect a quid pro quo from the institu- somewhat, according to the Com- the arts this year.The bank worth clients. But that design to the masses. Witness its tions they fund. But they are acute- mittee Encouraging Corporate hasn’t wavered in its com- amount also includes support for the Target National De- ly aware of the reputational boost Philanthropy,but it includes in-kind mitment, says Mr. Barker, $875,000 in its arts and sign Education Center at the Coop- they get from their support for the grants,such as donations of drugs by even in the recession.Two 5% enterprise program er-Hewitt Museum. arts. pharmaceutical companies. None of years ago,the bank provid- AMOUNT of aimed at revitalizing Access to art is another theme for BofA’s Mr. Barker received an e- the companies polled by the Arts ed the lead gift of annual income neighborhoods. Target’s philanthropy, and the re- mail from a new customer in Staten and Business Council planned to in- $500,000 to renovate the given to Since 2009, a total of tailer provides funding for venues, Island who had seen a bank-spon- crease their giving to the arts, says Queens Theatre in the $1.4 million of those such as the Museum of Modern Art, sored performance of the Metropol- Will Maitland Weiss, the organiza- Park and this year pledged communities grants have gone to help the Apollo Theater and El Museo itan Opera’s Summer Recital Series tion’s executive director. another $45,000. It also community arts institu- del Barrio, to offer free admission to and opened an account as a result. “Health care is hugely important, sponsored the Public The- tions weather the fund- some of their visitors. The Min- “Am I going to build a business but it’s not having a big impact on ater’s Shakespeare in the ing downturn, including neapolis-based company won’t say on that?” Mr. Barker asks. “But it’s the arts scene,” says Mr.Weiss of the Park last summer, includ- such organizations as the how much it is donating to the arts part of the brand. There’s no ques- drug companies’donations.“Corpo- ing The Merchant of Venice, Bronx Museum of the here,but its longtime corporate pol- tion about it.” Ⅲ

To become one of New York’s leading philanthropies, we relied on a truly phenomenal instruction book.

The Bible. Among other things, it may have been the first document advocating helping others in need. “Care for the widows and orphans among you.” “Love thy neighbor.” It’s all in there. In fact, the Jewish concept of giving tzedakah isn’t merely an act of charity, but a fulfillment of justice. It’s why UJA-Federation exists today. To connect and inspire the Jewish community around the world. And to care for all New Yorkers. To learn more and make a difference, visit www.ujafedny.org.

Bringing Jewish values to life.

www.ujafedny.org • 1-866-UJA-FED1 Photo: Jonathan Levine www.facebook.com/ujafedny www.twitter.com/ujafedny

December 13, 2010 | Crain’s New York Business | 15 20101213-NEWS--0016-NAT-CCI-CN_-- 12/9/2010 6:27 PM Page 1

REPORT CORPORATE PHILANTHROPY

Highest-paid officers at nonprofits Growing expenses Total operating expenses By the At the top 25 organizations Percent changes in operating expenses from at top 25 numbers 2010 2009 to 2010 Name/title/organization compensation In 2010, the top 25 nonprofits decreased their Glenn D. Lowry, director $2,257,9101 operating expenses by 1.1%, compared with a 6.9% $4.1B Museum of Modern Art increase a year ago. In millions of dollars. Amount of private Peter Gelb, general manager $1,215,000 support received Metropolitan Opera Association by the top 25 Jack Lund, president/CEO $832,7732 organizations YMCA of Greater New York Robert L. Jones, M.D., president/CEO $806,1323 New York Blood Center $5.0B Gary E. Knell, president/CEO $747,000 Amount allocated Sesame Workshop to program services 1-Compensation for fiscal year ended 2009 was obtained from the organization’s latest available Form by the top 25 990. 2-Includes a one-time distribution from a five-year long-term executive performance plan. 3-2009 compensation. organizations New York Area’s Largest Nonprofits Ranked by 2010 total operating expenses

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16 | Crain’s New York Business | December 13, 2010 20101213-NEWS--0017-NAT-CCI-CN_-- 12/9/2010 6:36 PM Page 1

REPORT CORPORATE PHILANTHROPY

2010 fundraising expenses 2010 income !& ! && #! &&!!  $  &  &! " !  $"!#&  !  #! !&   ! " & " & ! & !   %! & ! &  &  " !  # &  "   "   &  !

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+>+ 09<  +8. 38-6?./ .?-+>398+6 <9+.-+=>381 9<: +8. +66 =?,=3.3+<3/= 8-6?./= + 98/>37/ .3=><3,?>398 0<97 + 03@/C/+< 6981>/<7 /B/-?>3@/ :/<09<7+8-/ :6+8 3=-+6 C/+< /8.= ?8/ 66 031?/. +6/8.+< C/+<  -97:/8=+>398 -97:/8=+>398A+=89>+@+36+,6/ %/=/+<-2/83=/&9?>2A99.&?D+88/$+8+<+ ➚➚ PURCHASE THE NONPROFIT AND ALL OF CRAIN’S BUSINESS LISTS @ WWW.CRAINSNEWYORK.COM/LISTS

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December 13, 2010 | Crain’s New York Business | 17 nb50p18-19cl.qxp 12/10/10 2:59 PM Page 18

EXECUTIVE PUBLIC & LEGAL NOTICES RECRUITER Notice of Qualification of Honua Fifth Notice of Qualification of WTC Tower 1 Notice of Qualification of Goldman Notice of Qualification of FMS POSITION AVAILABLE Avenue LLC. Authority filed with NY LLC. Authority filed with NY Dept. of Sachs Investment Partners Private Hauppauge, LLC. Authority filed with Dept. of State on 5/22/07. Office State on 11/29/10. Office location: Opportunities Holdings, L.P. Authority NY Dept. of State on 10/22/10. Office location: NY County. Princ. bus. NY County. LLC formed in DE on filed with Secy. of State of NY (SSNY) location: NY County. Princ. bus. addr.: Sr Developer (Citadel LLC - New addr.: c/o Cozen O’Connor, 277 Park 9/2/10. NY Sec. of State designated on 10/26/10. Office location: NY 920 Winter St., Ste. A, Waltham, MA York, NY) Assist in the design & dvpt of systems using the Microsoft Ave., NY, NY 10172. LLC formed in agent of LLC upon whom process County. LP formed in Cayman Islands 02451. LLC formed in DE on .NET framework & the C# prog lang. DE on 5/17/07. NY Sec. of State against it may be served and shall (CI) on 6/4/10. SSNY designated as 10/19/10. NY Sec. of State designated Reqs Bachelors (or foreign equiv) in designated agent of LLC upon whom mail process to the principal business agent of LP upon whom process agent of LLC upon whom process Computer Science, Eng or related process against it may be served and addr.: The Port Authority of New York against it may be served. SSNY against it may be served and shall field + 5 yrs of exp in the following: shall mail process to: c/o CT and New Jersey, 225 Park Ave. So., shall mail process to: 200 West St., mail process to: c/o CT Corporation full life cycle object oriented, C++, Corporation System, 111 8th Ave., NY, 15th Fl., NY, NY 10003, Attn: Darrell NY, NY 10282. CI address of LP: System, 111 8th Ave., NY, NY 10011, multi-threading, real-time, low latency NY 10011, regd. agent upon whom Buchbinder, General Counsel. DE c/o Walkers SPV Limited, Walker regd. agent upon whom process may prog; full life cycle dvpt using process may be served. DE addr. of addr. of LLC: 1209 Orange St., House, 87 Mary St., George Town, be served. DE addr. of LLC: 1209 Microsoft C# & .NET platform; LLC: The Corporation Trust Co., 1209 Wilmington, DE 19801. Cert. of Grand Cayman, KY1-9002, CI. Orange St., Wilmington, DE 19801. Winforms, WPF, LINQ, Tibco, C++, Orange St., Wilmington, DE 19801. Form. filed with DE Sec. of State, Name/address of each genl. ptr. Arts. of Org. filed with DE Sec. of & Prism/Unity; & WCF & .NET Cert. of Form. filed with DE Sec. of 401 Federal St., Dover, DE 19901. available from SSNY. Cert. of LP State, 401 Federal St., Dover, DE remoting & distributed prog tech. State, 401 Federal St., Dover, DE Purpose: any lawful activity. filed with Registrar of Exempted 19901. Purpose: any lawful activity. Stated exp must incl. 2 yrs of exp in 19901. Purpose: any lawful activity. LPs, Elizabethan Sq., 4th Fl., Phase the following: Advanced concepts in .NET, C#, SQL Server, object-oriented Notice of Formation of GRESA U.S.A., Four, George Town, Grand Cayman, Notice of Registration of Buitrago & design, & relational database Notice of Qual. of W West 45th Street LLC. Arts. of Org. filed with Secy. of CI. Purpose: any lawful activity. Kleinman LLP. Cert. filed with Secy. design; & software dvpt exp. in the LLC, Auth. filed Sec’y of State (SSNY) State of NY (SSNY) on 09/13/10. Office of State of NY (SSNY) on 7/21/10. Financial Industry. 9/28/10. Office loc.: NY County. LLC location: NY County. Princ. office of NOTICE OF FORMATION of NPIG., Office in NY Cty. Principal office: 101 Resumes: Employee Relations/EH, org. in DE 9/22/10. SSNY desig. as LLC: McElroy, Deutsch, Mulvaney & LLC of Org filed Sec’y of State West 73rd St Ste 1A, NY, NY 10023. Attn: JobR-0143, Citadel LLC, 131 agent of LLC upon whom process Carpenter, LLP, 88 Pine St. - 24th Fl., (SSNY) 11/1/10. Office location: SSNY designated as agent of LLP South Dearborn Street, 32nd Floor, against it may be served. SSNY shall NY, NY 10005. SSNY designated as upon whom process against it may Chicago, IL 60603. New York County. SSNY designated mail copy of proc. to c/o Dalan Mgmt. agent of LLC upon whom process as agent of LLC upon whom process be served. SSNY shall mail process & Assoc., 134 W. 25th St., NY, NY against it may be served. SSNY shall against it may be served. SSNY to David Kleinman at the principal 10001. DE off. addr.: 160 Greentree mail process to Alfred Wheeler Esq. shall mail copy of process to c/o office. Purpose: Profession of Law. Dr., Ste. 101, Dover, DE 19904. Cert. at the princ. office of the LLC. Hofheimer Gartlir & Gross LLP, 530 of Form. on file: SSDE, Townsend REAL ESTATE Purpose: Any lawful activity. , New York, NY 10036. Notice of Formation of Cereus Bldg., Dover, DE 19901. Purp.: any Purpose: any lawful activities. Design LLC. Art of Org. filed with lawful activities. Notice of Formation of THE IONIK SSNY 11-10-10. Office Location: NY COMMERCIAL RECORDINGS COMPANY, LLC, a Notice of Formation of GOTHAM County. SSNY designated as agent Notice of Formation of Renatus domestic LLC. Arts. of Org. filed with PROCESS SERVERS, LLC. Arts. of for process. SSNY shall mail a copy HUDSON VALLEY AREA of NYS Southgate LLC. Arts. of Org. filed the SSNY on 09/21/2010. Office loca- Org. filed with Secy. of State of NY of any process to The LLC, 267 Fifth 1)Hospital 100 Beds 22ac, assisted living with Secy. of State of NY (SSNY) on tion: NY County. SSNY has been des- (SSNY) on 09/15/10. Office location: Ave., Ste. 1001, NY, NY 10016. 2)School 60K SF Gym Pool Borders Park 5/10/10. Office location: NY County. ignated as agent upon whom process NY County. SSNY designated as Purpose: Any lawful act or activity. 3)Investment. Chase Bank Anchor 25K sf SSNY designated as agent of LLC against the LLC may be served. 4)Pvt Airport 3850”RW Dvlopmnt Land agent of LLC upon whom process 5)Legendary Music Venue 1000 Seats upon whom process against it may SSNY shall mail a copy of process to: against it may be served. SSNY shall Notice of Formation of CREATURE 6)200,000 SF Bio, Hi-Tech, Back Office be served. SSNY shall mail process 1235 1st Ave. Apt. 20, NY, NY 10065. mail process to Corporation Service PICTURES, LLC, a domestic LLC. www.crproperties.com 845-485-3100 to: c/o Alter Mantel, 90 Park Avenue, Purpose: Any Lawful Purpose. Co., 80 State St., Albany, NY 12207, Arts. of Org. filed with the SSNY on 35th Fl., NY, NY 10016, Attn: regd. agent upon whom and at 11/05/2010. Office location: NY Lawrence Hansen, Esq.. Purpose: Notice of Formation of SIRIUS PRO- which process may be served. County. SSNY has been designated any lawful activity. DUCTIONS LLC. Arts. of Org. filed Purpose: Any lawful activity. as agent upon whom process against PUBLIC & with Secy. of State of NY (SSNY) on the LLC may be served. SSNY shall NOTICE OF FORMATION of Aurum 10/24/02. Office location: NY Notice of Formation of RETAIL LEASING mail a copy of process to: 508 W. LEGAL NOTICES Options Strategies LLC. Arts of Org County. SSNY designated as agent GROUP LLC. Arts. of Org. filed with Secy. 26th St. Ste 7A, NY, NY 10001. Reg filed with the Secy of State of New of LLC upon whom process against of State of NY (SSNY) on 10/25/10. Agent, Andrew Zuckerman, 508 W. York (SSNY) on 10/20/10. Office it may be served. SSNY shall mail Office location: NY County. Princ. office 26th St. Ste 7A, NY, NY 10001. Notice of Formation of NORDICA location: NY County. SSNY desig- process to: Susan Diane Freel, 37 of LLC: Ste. 300, 433 5th Ave., NY, NY Purpose: Any Lawful Purpose. SOHO LLC, a domestic LLC. Arts. of nated as an agent upon whom King St., Ste. 5C, NY, NY 10014. 10016. SSNY designated as agent of Org. filed with the SSNY on 10/18/2010. process may be served and shall Purpose: any lawful activity. LLC upon whom process against it may Notice of Formation of Goodrich Office location: NY County. SSNY mail a copy of any process to the be served. SSNY shall mail process to Fashion Consulting Group, LLC. has been designated as agent upon principal business address: One OLIVE HILL PRODUCTIONS, LLC, a David Cherna at the princ. office of the Articles of Organization filed with whom process against the LLC may North End Ave., Ste. 1207E, NY, NY domestic Limited Liability Company LLC. Purpose: Any lawful activity. New York Secretary of State on be served. SSNY shall mail a copy of 10282. Purpose: any lawful act. (LLC), filed with the Sec of State of November 3, 2010. Principal Office process to: 43 West 24th St., NY, NY NY on 10/14/10. NY Office location: Location: New York County. 10010. Purpose: Any Lawful Purpose. Notice of Formation of ALB - FT, LLC. Notice of Formation of Renegade New York County. SSNY is designated Secretary of State designated as Arts. of Org. filed with Secy. of State Nation Online, LLC. Arts. of Org. filed as agent upon whom process against agent of LLC upon whom process of N.Y. (SSNY) on 10/20/10. Office Rondout Capital Management LLC, with NY Dept. of State on 10/1/10. the LLC may be served. SSNY shall against the LLC may be served. location: New York County. SSNY Arts. Of Org.filed with SSNY on Office location: NY County. Sec. of mail a copy of any process against Secretary of State shall mail a copy designated as agent of LLC upon 10/13/10. Off. Loc.: NY County, SSNY State designated agent of LLC upon the LLC served upon him/her to The of any process to the LLC at: 415 whom process against it may be designated as agent of LLC upon whom process against it may be LLC, 55 White St., New York, NY Greenwich Street, Suite #4B, New served. SSNY shall mail process to: whom process against it may be served and shall mail process to the 10013. General Purposes. York, New York 10013. Purpose: to served. SSNY shall mail a copy of principal business addr. of the LLC: c/o Anthony Lawrence Belfair, 53 W. engage in any lawful act or activity. process to: The LLC, 595 Madison 23rd St., NY, NY 10010. Purpose: 434 6th Ave., 6th Fl., NY, NY 10011. Notice of Qualification of GREENWICH Ave. 35th/FL, New York, NY 10022. any lawful activity. Purpose: any lawful activity. THAMES REALTY LLC. Authority NOTICE OF FORMATION of Sprata Purpose: to engage in any lawful act. filed with Secy. of State of NY (SSNY) Behavioral Licensed Clinical Social Notice of Qualification of KEENE on 10/22/10. Office location: NY Notice of Qualification of DEZ-IT (A), Work Service, PLLC. Article of Notice of Qualification of 1412 CONSULTING ARIZONA LLC. County. LLC formed in Delaware (DE) L.L.C. Authority filed with Secy. of Organization filed with the Secretary Broadway GP, LLC. Authority filed Authority filed with Secy. of State of on 07/12/10. Princ. office of LLC: c/o State of NY (SSNY) on 11/08/10. of State of NY (SSNY) on 10/20/10. with NY Dept. of State on 11/2/10. NY (SSNY) on 11/24/10. Office loca- Michael, Levitt & Rubenstein, LLC, Office location: NY County. LLC Office location: New York County. Office location: NY County. LLC tion: NY County. LLC formed in 60 Columbus Circle, NY, NY 10023. formed in Delaware (DE) on 11/03/10. SSNY has been designated as agent formed in DE on 10/15/10. NY Sec. Delaware (DE) on 11/09/10. SSNY SSNY designated as agent of LLC Princ. office of LLC: 350 Park Ave., upon whom process against it may of State designated as agent of LLC designated as agent of LLC upon upon whom process against it may 4th Fl., NY, NY 10022. SSNY desig- be served. The Post Office address upon whom process against it may whom process against it may be be served. SSNY shall mail process nated as agent of LLC upon whom to which the SSNY shall mail a copy be served and shall mail process to served. SSNY shall mail process to to the LLC at the addr. of its princ. process against it may be served. of any process against the PLLC the principal business addr.: 999 the LLC, P.O. Box 270, NY, NY office. DE addr. of LLC: c/o SSNY shall mail process to c/o served upon him/her is C/O The Waterside Dr., Ste. 2300, Norfolk, VA 10021. DE addr. of LLC: c/o Corporation Service Co., 2711 Corporation Service Co., 80 State LLC, 954 Lexington Avenue, #132. 23510. DE addr. of LLC: The Corporation Service Co., 2711 Centerville Rd., Ste. 400, Wilmington, St., Albany, NY 12207-2543. DE N.Y., N.Y., 10021. Date of Corporation Trust Co., 1209 Orange Centerville Rd., Ste. 400, Wilmington, DE 19808. Arts. of Org. filed with addr. of LLC: 2711 Centerville Rd., Dissolution: N/A. Purpose of PLLC: St., Wilmington, DE 19801. Cert. of DE 19808. Arts. of Org. filed with Secy. of State of DE, John G. Ste. 400, Wilmington, DE 19808. Arts. to engage in any lawful act or activi- Form. filed with DE Sec. of State, Jeffrey W. Bullock, DE Secy. of State, Townsend Bldg., Federal and Duke of Org. filed with Secy. of State of DE, ty. Street address of Principal 401 Federal St., Dover, DE 19901. 401 Federal St., #3, Dover, DE of York Sts., Dover, DE 19901. 401 Federal St., Ste. 4, Dover, DE Business location is: 954 Lexington Purpose: any lawful activity. 19901. Purpose: Any lawful activity. Purpose: Any lawful activity. 19901. Purpose: Any lawful activity. Avenue, #132. N.Y., N.Y., 10021.

18 | Crain’s New York Business | December 13, 2010 nb50p18-19cl.qxp 12/10/10 2:59 PM Page 19

PUBLIC & LEGAL NOTICES

Notice of Qualification of Master Notice of Qualification of FAIRWAY Notice of Qualification of ACE Bakery, Notice of Qualification of WPS NOTICE OF FORMATION OF Village Money LLC. Authority filed with NY EAST 86TH STREET LLC. Authority LLC. Authority filed with NY Dept. of Production Partners II, LLC. Authority Playday LLC. Article of Organization Dept. of State on 11/15/10. Office filed with Secy. of State of NY (SSNY) State on 11/18/10. Office location: filed with NY Dept. of State on filed with the Secretary of State of NY location: NY County. Princ. bus. on 11/10/10. Office location: NY NY County. Princ. bus. addr.: 50 9/13/10. Office location: NY County. (SSNY) on 8/23/10. Office location: addr.: 40 E. 52nd St., NY, NY 10022. County. LLC formed in Delaware (DE) Maplehurst Dr., Brownsburg, IN LLC formed in DE on 6/22/10. NY NEW YORK County. SSNY has been LLC formed in DE on 8/29/02. NY on 02/04/10. Princ. office of LLC: 46112. LLC formed in DE on 10/14/10. Sec. of State designated agent of designated as agent upon whom Sec. of State designated agent of Fairway Central Services LLC, 2284 NY Sec. of State designated agent of LLC upon whom process against it process against it may be served. The LLC upon whom process against it Twelfth Ave., NY, NY 10027. SSNY LLC upon whom process against it may be served and shall mail process Post Office address to which the may be served and shall mail process designated as agent of LLC upon may be served and shall mail process to the principal business address: 450 SSNY shall mail a copy of any to: c/o CT Corporation System, 111 whom process against it may be to: c/o CT Corporation System, 111 Lexington Ave., NY, NY 10017, Attn: process against the LLC served 8th Ave., NY, NY 10011, regd. agent served. SSNY shall mail process to 8th Ave., NY, NY 10011, regd. agent Scott A. Arenare. DE address of LLC: upon him/her is C/O the LLC 1864 upon whom process may be served. the LLC at the addr. of its princ. office. upon whom process may be served. c/o The Corporation Trust Co., 1209 7th Ave, #44. New York, NY 10026. DE addr. of LLC: 100 Bellevue Pkwy., DE addr. of LLC: 2711 Centerville DE addr. of LLC: 1209 Orange St., Orange St., Wilmington, DE 19801. Date of Dissolution: Purpose of LLC: Wilmington, DE 19809. Cert. of Rd., Ste. 400, Wilmington, DE 19808. Wilmington, DE 19801. Cert. of Form. Cert. of Form. filed with DE Sec. of to engage in any lawful act or activi- Form. filed with DE Sec. of State, Arts. of Org. filed with DE Div. of filed with DE Sec. of State, Federal & State, 401 Federal St., Dover, DE ty. Street address of Principal 401 Federal St., Dover, DE 19901. Corps., John G. Townsend Bldg., Duke of York Sts., Dover, DE 19901. 19901. Purpose: any lawful activity. Business location is: 1864 7th Purpose: any lawful activity. 401 Federal St. - Ste. 4, Dover, DE Purpose: any lawful activity. Avenue, #44. New York, NY 10026. 19901. Purpose: Any lawful activity. ERIC KUSSELUK, M.D., LLC. Notice of Notice of Formation of MIKE’S Notice of Formation of Dan’s Papers the formation of the above named Notice of Formation of C&B 23RD PIZZERIA & CAFE, LLC, a domestic Notice of Formation of NORTH PARK Holdings, LLC formed on 9/1/10, Professional Limited Liability Company STREET REAL ESTATE LLC. Arts. of LLC. Arts. of Org. filed with the SSNY PRESERVATION GP, LLC. Arts. of name amended to Dan’s Papers, LLC (“PLLC”) Articles of Organization filed Org. filed with Secy. of State of NY on 10/06/2010. Office location: NY Org. filed with Secy. of State of NY on 9/29/10. Articles of Org. filed with with the Department of State of NY on (SSNY) on 11/15/10. Office location: County. SSNY has been designated (SSNY) on 11/16/10. Office location: Secy. of State of NY (SSNY). Office 7/29/2010. Office Location: County of NY County. SSNY designated as as agent upon whom process NY County. Princ. office of LLC: 60 location: NY County. SSNY designated New York. The Secretary of State of NY agent of LLC upon whom process against the LLC may be served. Columbus Circle, NY, NY 10023. as agent of LLC whom process (“SSNY”) has been designated as agent against it may be served. SSNY shall SSNY shall mail a copy of process SSNY designated as agent of LLC against it may be served. SSNY shall of the PLLC upon whom process against mail process to Corporation Service to: 35 W. 36th St., NY, NY 10018. upon whom process against it may mail a copy of process to the LLC, it may be served. SSNY shall mail a copy Co., 80 State St., Albany, NY 12207- Purpose: Any Lawful Purpose. be served. SSNY shall mail process 79 Madison Ave., 16th Floor, NY, NY of any such process served to: Wormser, 2543. Purpose: Any lawful activity. to c/o Corporation Service Co., 80 10016. Purpose: any lawful activity. Kiely, et al., Attn Thomas L. Fuerth, Esq., State St., Albany, NY 12207. 825 Third Ave., 26th Flr. NY NY 10022. Notice of formation of 42 LUDLOW Notice of Qualification of Candlewood Purpose: Any lawful activity. Purpose: to practice medicine. LLC a domestic Limited Liability Notice of Qualification of Vita Nuova Structured Credit GP, LLC. Authority Company (LLC). Articles of Organization LLC. Authority filed with Sec. of State filed with NY Dept. of State on filed with the Secretary of State on NOTICE OF FORMATION OF LIMITED of New York (SSNY) on 10/29/2010. NOTICE OF FORMATION OF Lori 11/2/10. Office location: NY County. November 22, 2010, NY Office LIABILITY COMPANY. NAME: 16 FOR Office Location: NY County. LLC Cannava Photography LLC. Article of LLC formed in DE on 10/22/10. NY Location: New York County. Secretary 8 HOSPITALITY, LLC. Articles of formed in CT on 5/21/1998. SSNY Organization filed with the Secretary Sec. of State designated agent of of State is designated as agent upon Organization were filed with the designated as agent of LLC upon of State of NY (SSNY) on 11/03/10. LLC upon whom process against it whom process against the LLC may Secretary of State of New York (SSNY) whom process against it may be Office location New York County. SSNY may be served and shall mail be served. Secretary of State shall on 06/24/10. Office location: New York served. SSNY shall mail process to has been designated as agent upon process to: c/o CT Corporation mail a copy of any process against County. SSNY has been designated the LLC at its CT and principal busi- whom process against it may be System, 111 8th Ave., NY, NY 10011, the LLC served upon him/her to: 42 as agent of the LLC upon whom ness address: 31A Jeremiah Road, served. SSNY shall mail a copy of any regd. agent upon whom process may Ludlow Street, New York, New York process against it may be served. Sandy Hook, CT 06482. Arts. of Org. process against the LLC served upon be served. DE addr. of LLC: 1209 10002. Purpose: To engage in any SSNY shall mail a copy of process to filed with the Sec. of State of CT, 30 him/her to the LLC, 405 W 49th Street Orange St., Wilmington, DE 19801. lawful act or activity. the LLC, c/o Ben Daitz, 60 West 13th Trinity Street, PO Box 150470, 5E, NY, NY 10019. Purpose of LLC: to Cert. of Form. filed with DE Sec. of Street, New York, New York 10011. Hartford, CT 06115-0470. Purpose: engage in any lawful act or activity. State, 401 Federal St., Dover, DE Notice of Qualification of RX MOSAIC Purpose: For any lawful purpose. any lawful activity. 19901. Purpose: any lawful activity. HEALTH LLC. Authority filed with Notice of Formation of FIRST JW Secy. of State of NY (SSNY) on Notice of Qualification of Global Notice of Qualification of Warburg HOLDINGS, LLC. Arts. of Org. filed Notice of Qualification of Ionic 10/21/10. Office location: NY County. Demolition & Recycling, LLC. Pincus Partners (E&P) LLC. Authority with Secy. of State of NY (SSNY) on Convertible Fund LLC. Authority filed LLC formed in Delaware (DE) on Authority filed with NY Dept. of State filed with NY Dept. of State on 11/05/10. Office location: NY County. with NY Dept. of State on 11/18/10. 09/28/10. Princ. office of LLC: 437 on 11/16/10. Office location: NY 10/6/10. Office location: NY County. Princ. office of LLC: 20 Clinton St., Office location: NY County. LLC Madison Ave., NY, NY 10022. SSNY County. LLC formed in DE on LLC formed in DE on 10/5/10. NY Apt. 4-F, NY, NY 10002. SSNY formed in DE on 11/17/10. NY Sec. designated as agent of LLC upon 7/14/04. NY Sec. of State designated Sec. of State designated agent of designated as agent of LLC upon of State designated agent of LLC whom process against it may be agent of LLC upon whom process LLC upon whom process against it whom process against it may be upon whom process against it may served. SSNY shall mail process to against it may be served and shall may be served and shall mail process served. SSNY shall mail process to be served and shall mail process to c/o Corporation Service Co., 80 mail process to: c/o CT Corporation to the principal business addr.: 450 c/o Morton Goldfein, Esq., Saiber the principal business addr.: 366 State St., Albany, NY 12207-2543. System, 111 8th Ave., NY, NY 10011, Lexington Ave., NY, NY 10017, Attn: LLC, 44 Wall St., 12th Fl., NY, NY Madison Ave., 9th Fl., NY, NY 10017. DE addr. of LLC: c/o 2711 Centerville regd. agent upon whom process may General Counsel. DE addr. of LLC: 10005. The regd. agent of the DE addr. of LLC: c/o The Corporation Rd., Ste. 400, Wilmington, DE 19808. be served. DE addr. of LLC: 1209 c/o The Corporation Trust Co., 1209 company upon whom and at which Trust Co., 1209 Orange St., Arts. of Org. filed with DE Secy. of Orange St., Wilmington, DE 19801. Orange St., Wilmington, DE 19801. process against the company can be Wilmington, DE 19801. Cert. of State-John G. Townsend Bldg., 401 Cert. of Form. filed with DE Sec. of Arts. of Org. filed with DE Sec. of served is Morton Goldfein, Esq., c/o Form. filed with DE Sec. of State, Federal St., Ste. 4, Dover, DE 19901. State, 401 Federal St., Dover, DE State, Townsend Bldg., Dover, DE Saiber LLC, at the addr. of process. P.O. Box 898, Dover, DE 19903. Purpose: Any lawful activity. 19901. Purpose: any lawful activity. 19901. Purpose: any lawful activity. Purpose: Retail sales. Purpose: any lawful activity.

December 13, 2010 | Crain’s New York Business | 19 20101213-NEWS--0020-NAT-CCI-CN_-- 12/10/2010 8:24 PM Page 1

would think the attendance would jump high- poor or mixed reviews.The New York Times said delays and is scheduled to open in January. er, but it didn’t,” Mr. Davenport says. “It just Women on the Verge needed Ritalin, and said Though some in the media keep predicting Broadway got diluted and spread out.” Elling was a “puzzling fizzle.”Elling shuttered the show’s demise, it sold $1 million worth of Though a handful of long-running block- after just nine regular performances. tickets within 24 hours after its first preview, Continued from Page 1 busters, like Wicked, Jersey Boys and Lion King, and sources say it has a $20 million advance. limited run. The combination of it all has left continue to sell out, 24 of the 36 shows that Too highbrow In fact, many performances are already sold many Broadway executives counting the days played during the week ended Dec. 5 grossed IN ADDITION, many of the offerings, like La out in the 2,000-seat theater, and good seats until Spider-Man Turn Off the Dark opens in less than 60% of their potential,with a number Bete, which has been playing to a less than aren’t available until February. January and several big-name musicals make of them bringing in a measly 30%. Attendance half-full house, are simply too highbrow for “Ticket sales are extraordinary,” says a their entrance this spring. wasn’t much better: Even with discounted the crowds that come to Broadway. The Scotts- spokesman for the production, who adds that “This fall has been lackluster, compared to tickets, many theaters were only half full. boro Boys, which closed Sunday, came in with all the publicity is fueling those sales. other seasons,” says Stephanie Lee, president Broadway executives say there are simply a great pedigree; it was written by the famous “If Spider-Man makes it, it will be the of Group Sales Box Office,where group book- too many shows for audiences to sustain, espe- songwriting team of John Kander and Fred biggest steroid injection that Broadway gross- ings for the fall were down around 8% from the cially in tough economic times.In addition,too Ebb and directed by Susan Stroman. But the es and attendance could get,” Mr. Davenport same time last year. many of the shows this fall were either plays or storyline, about a group of African Americans says. “Broadway needs another Wicked,a Though box office grosses for the season obscure musicals, without major celebrities or unjustly accused of raping two white women, must-see show that people are dying to go to.” (which started in June) grew 1.3%, to $555.6 recognizable titles that would appeal to was a tough sell for people who seem to be Other shows coming this spring may pro- million,compared with the same period a year tourists—who make up 63% of the audience. looking for light, predictable entertainment. vide that excitement, too. A number of big, earlier,and attendance is up 2%,to 6.4 million, “There are so many plays and musicals Why else would Elf, a Christmas movie mu- recognizable movie musicals, including Sister there are more shows than there were last year, chasing a limited audience that it seems like sical that got scathing reviews, be grossing Act, Catch Me if You Can and Priscilla Queen of making those increases seem small.According your only guarantee for success now is to have more than $1 million most weeks? the Desert, are already generating buzz. to an analysis by producer Ken Davenport, a huge name,” says Todd Haimes, artistic di- “Now,especially with the recession, people Ms. Lee of Group Sales Box Office says there were 744 playing weeks (a measurement rector of the Roundabout Theatre Company. need to know when they go out, they’re going bookings for spring shows from March of the number of shows and their performanc- “And whereas Brendan Fraser [of Elling] or to have a good time,” says Stewart Lane, a through June have already reached 90% of the es) in the second quarter, which recently end- someone like him would have been a viable longtime Broadway producer. total amount sold during the spring last year. ed, compared to 686 playing weeks during the name to sell tickets 10 years ago,now you need All eyes are now on Spider-Man Turn off the “Broadway is reflecting the movie industry same period last year, an increase of 8.5%. someone like Chris Rock.” Dark, the notoriously troubled $65 million more and more,” says Mr. Lane, who is pro- “When we’re doing 8.5% more shows, you It also didn’t help that many of the shows got musical that is finally in previews after many ducing Priscilla.“We need tent-pole shows.”Ⅲ

living-wage provisions to government-subsi- dized projects. Gilded city “Creating good, family-sustaining jobs is Cardiology an ingredient to economic recovery that gov- Continued from Page 1 ernment cannot ignore” says Mike Fishman, Continued from Page 1 come for most New Yorkers.” president of SEIU 32BJ. tional studies in recent years showing that pre- The shift was driven largely by Wall Business leaders and city officials bristle at scription drugs and lifestyle adjustments can Street, where average salaries more than dou- any move that might challenge the city’s com- be as effective as angioplasty for many patients, bled (although they subsequently declined petitiveness. Instead, they argue for a greater doctors are increasingly avoiding invasive 23% between 2007 and 2009, to $311,000). focus on improving chances for those at the treatments. That’s great for patients, but the Meanwhile, structural changes in the econo- lower wage end through schooling and by at- change has led to a significant drop in business my have led to a shift from relatively high- tracting businesses that provide good-paying at most of New York City’s 18 interventional paying manufacturing and back-office jobs to jobs at all skill levels. cardiology centers—a drop that has also affect- lower-paid service positions. “Our focus is on generating opportunities ed hospital revenues. Though the growing gap between the rich for low- and middle-income New Yorkers,not The number of angioplasty and similarly and everyone else mirrors a national trend, it is suppressing high incomes,” says a spokesman invasive heart procedures performed in the city especially exaggerated here. Nationally,the top for Mayor Michael Bloomberg. “We certain- fell 11% in 2007,to about 22,800,according to buck ennis NY-PRESBY’S DR. JEFFERY MOSES: He oversees two 1% earned 23.5% of total income in 2007,com- ly wouldn’t rather the highest-income jobs to the latest data available from the state’s health cardiology centers that were recently restructured into one. pared with 12.7% in 1987.A combination of fi- be in London or Hong Kong instead of New department. Some centers saw even steeper nancial deregulation,tax cuts and the declining York City.” declines:New York-Presbyterian Hospital had influence of labor unions set the trend in mo- plunges of 16% and 14% at its Columbia and “There’s been poor planning; we have tion in 1980. Education is the key Weill Cornell sites, respectively. reached [market] saturation,” says Thomas In New York, another major reason for the THE EMPHASIS should be on education, says With angioplasties bringing in $15,000 to Concannon, an assistant professor at Tufts concentration of wealth is simply that the rich Kathryn Wylde, president of the Partnership $30,000 each and a busy cardiology center typ- University School of Medicine who recently want to live here.A stable economy,low crime for New York City, who adds that salaries for ically handling a dozen such procedures a day, wrote a national study that questioned the rates and an improved quality of life have residents aged 25 and over rose in 2009 with the 11% citywide decline translates into an es- building of more cardiology centers. drawn top earners and the major corporations each level of degree completed. “The growth timated revenue loss of $40 million annually for that employ them back to a city they once fled. sectors of the global economy are in areas that local centers and the hospitals that own them. Wanted: new revenues Their presence in turn helps keep city coffers require education,” she says. Coronary bypass surgery, an open heart CONSEQUENTLY, centers are competing harder filled, schools staffed and streets safe.The top Mr. Parrott counters that while higher ed- procedure already on the wane because of an- than ever for business—some are even buying 1% pay more than half of the city’s personal in- ucation may be a prerequisite to get ahead, it’s gioplasty, is down 4% statewide, according to medical practices to guarantee referrals—and come taxes. far from a guarantee. Average earnings for the 2007 data. are searching for new ways to use their costly Yet income disparity presents its own set of New Yorkers aged 25 to 34 who have a bach- In addition, New York City residents are staff and imaging equipment. challenges, especially during recession, and elor’s degree actually fell 6% between 1990 having fewer heart attacks. The two New York-Presbyterian Hospital those challenges have become an element of and 2007, to $57,000, he says. “There’s just less coronary disease than pre- centers that saw falloffs in angioplasties were almost every policy debate in New York. Steven Malanga,a senior fellow at the Man- dicted—particularly as the population is ag- restructured recently as a single entity in what The economics of living in the city “get more hattan Institute, a conservative think tank, has ing—a trend we don’t fully understand,” says the hospital calls an attempt to become more and more distorted,” says Barbara Byrne Den- another solution: Cut the taxes and red tape Dr.Stanley Katz,chairman of cardiology at the efficient and expand research capability. hem,chief economist at real estate services firm that make it so difficult to bring good-paying North Shore-LIJ system. Dr. Jeffrey Moses, director of the hospital’s Eastern Consolidated. “In no other industry is jobs to the city. Businesses are willing to locate Health officials credit years of anti-smok- interventional cardiology program,says angio- this more apparent than in New York’s residen- their highest-paid positions here but can no ing campaigns, the advent of drugs to control plasty will continue to have an important place tial real estate market, where it’s so difficult to longer afford the ones that were once the foun- blood pressure and cholesterol, and the bene- as the debate over the procedure’s cost-effec- afford to live if you’re not in a rent-stabilized dation of the city’s middle class, he says. fits of making healthier choices concerning tiveness is resolved. “A pure focus on numbers apartment or locked into a low mortgage.” “You have to lower the cost of operating diet and exercise. is a mistake,” he insists. “Our economic health The FPI report argues that the income gap and locating in New York,” Mr. Malanga says. On the other hand,some doctors argue that is in the quality of care we deliver.” will also restrain the recovery, as many resi- “You can’t do that if your policymakers think there has been no decline in heart disease but Dr. Moses points to a promising new pro- dents lack the purchasing power to buy the of the city as a luxury product that is only suit- rather that medicine has become better at cedure, structural heart repair, in which faulty goods and services that would get the econo- able for very-high-wage workers and the low- helping patients survive it. valves are replaced without open heart surgery. my churning again. paid workers who support them.” In any case, the shift to medical manage- Centers like his would get a boost if the U.S. “Better distribution of wealth would posi- Mr. Bloomberg is unapologetic. In a ment of heart disease is triggering debate over Food and Drug Administration approves such tively impact small business because you’d speech last week, he said that his administra- whether there are too many interventional car- innovative techniques. have a greater number of potential consumers tion has created jobs in middle-income indus- diology centers, which have proliferated na- At the Mount Sinai cardiology center—the out there,” says Carl Hum, president of the tries, including 2,300 at the Brooklyn Navy tionwide over the past decade. New York state city’s busiest—placing stents in blood vessels in Brooklyn Chamber of Commerce. Yard. More people are staying in and coming has 53 such facilities, 40 of which offer surger- the neck, leg and groin is proving effective in Most policymakers agree that the chasm to New York,he said,because they want all the ies;those numbers don’t include centers in fed- preventing strokes and improving circulation between haves and have-nots is not healthy for great things the city has to offer, including ca- eral hospitals. for diabetics, according to Dr. Sharma. New York, but there is less agreement on what reer opportunities. Hospitals have each spent tens of millions “Those diseases were there in the past, but should be done.The FPI and union leaders call New York has always been home to the rich of dollars building and equipping the facilities we were not aware of how many cases there for such measures as raising the minimum and the poor. The key to its future success is to and in many cases are merely drawing patients were,” Dr. Sharma says. “We are unmasking wage, boosting taxes on top earners and tying ensure everyone has a shot at joining the club. Ⅲ from areas already served by other centers. this patient population.” Ⅲ

20 | Crain’s New York Business | December 13, 2010 20101213-NEWS--0021-NAT-CCI-CN_-- 12/9/2010 6:21 PM Page 1

34% of hiring managers say employees are less productive the week before a major holiday BUSINESS LIVES Source: Accountemps survey

HOT JOBS GOTHAM GIGS EXECUTIVE INBOX Anne Fisher VICE PRESIDENT OF SALES AND MARKETING A Sugarplum Fairy COMPANY Senergy USA Celebrate JOB DESCRIPTION Manage the the season company’s efforts to sell its servic- es to cities and towns across with customers North America FOR MANY YEARS, Planned TV MOST IMPORTANT TASKS Moti- Arts, a book publicity firm at vate a sales team of former public Second Avenue and East 58th officials to establish high-level con- Street, sent its clients “traditional tacts in potential municipal targets gift items like popcorn tins, CREDENTIALS NEEDED B.A. or calculators, pens and graduate degree from top universi- paperweights” during the holiday ty; leadership in private-sector season, says Managing Director sales and marketing teams David Kahn. “But last year, we SALARY $80,000-$100,000 wanted to do something a little bit different.” RECRUITER Internal So the company—which DOWNSIDE Lacks clout in promotes an authors list that government circles includes mystery writer Janet Evanovich, comic Jeff Foxworthy UPSIDE Green technology is and personal-finance guru Suze popular and spreading rapidly PRIMA: Jennie Orman—sent its top 35 clients Senergy USA is a startup focused Somogyi has pizza instead. “We contacted on providing energy- and cost- appeared in the them ahead of time to find out efficient LED lighting technology to Christmas classic almost every year of how many pies they wanted and U.S. municipalities. her life. what local pizza joint was their —BRIAN CHAPPATTA favorite,” says Mr. Kahn. “It worked out so beautifully, we’re doing it again this year.” If you, too, are looking for EXECUTIVE MOVES creative ways to spread holiday cheer, you’ve got lots of Dow Jones & Co.: Alisa company. A nationwide survey of Bowen, 37, was appointed general small business owners by Ameri- manager of The Wall can Express Open says that 44% Street Journal Digital of entrepreneurs will be giving Network, the their customers gifts this year. company’s consumer A contribution to a worthy digital business group. cause can be the perfect answer Ms. Bowen, who was named one of Crain’s “40 Under 40” rising stars in to the question of what to give 2010, was most recently senior vice someone who has everything. president and head of business Gary Robinson, who runs his own operations at Reuters Media, a unit of business as a shopper and stylist Thompson Reuters. JENNIE SOMOGYI was 9 when she first danced in George out of his Harlem apartment, Buccino & Associates: Christopher L. Balanchine’s The Nutcracker. A student at the school of the New chooses a children’s charity in Picone, 58, was promoted to president and general counsel at the financial York City Ballet, she was cast as Marie, the young girl who his neighborhood and finds out consulting firm. He was previous-ly receives a toy nutcracker for Christmas. Now senior principal what donations it needs most. managing director. Then he pays for “a new and myvideorights: dancer with the New York City Ballet, Ms. Somogyi has beautiful clothing item for a Ron Schneier, 58, ‘If I didn’t appeared in the classic nearly every year of her life in a variety of child, on behalf of each client,” was named chief roles, this year as the Sugarplum Fairy. ¶ Ms. Somogyi, 33, never he says. He creates a handmade operating officer at card to let clients know what he’s the online video do The tires of the work. “If I didn’t do The Nutcracker it wouldn’t feel like given to kids in their names. management firm. He the holidays,” she says. ¶ She began her formal training with was formerly executive Nutcracker Mr. Robinson’s clients vice president at A&E Madame Nina Youskevitch at age 7.The following year, the appreciate the effort: “I’ve had Television. it wouldn’t School of American Ballet offered the Easton, Pa., native a full the heiress to a shipping empire WNET: Jennifer Kirby, 40, was named scholarship—rare for someone so young. Every Sunday, her dad call me in tears because she was senior director of foundations relations feel like so touched by receiving a photo for the parent company of public would drive his daughter and her mother to New York, where television stations Thirteen and of a little boy in a new wool duffel WLIW21. She was formerly the chief the they stayed in a friend’s apartment while Ms. Somogyi attended coat.” operating officer of Link Media. classes during the week. ¶ The star’s 2-year-old daughter is now Sure beats fruitcake. Happy Flatotel: John P.Connolly, 44, was holidays’ smitten with ballerinas and the lure of the slippers. But Ms. holidays, everyone! promoted to director of sales at the Somogyi insists that she doesn’t want her child to dance. “I’ve hotel. He was previously the director ARE YOU DOING anything of business development. lived this life already, and I know how hard it is,” she says. “I want special for, or with, your customers William Narvaez, 24, joined as for the holidays? Tell us at See EXECUTIVE MOVES on Page 22 her to do something new.”

—miriam kreinin souccar buck ennis www.crainsnewyork.com/execinbox.

December 13, 2010 | Crain’s New York Business | 21 20101213-NEWS--0022-NAT-CCI-CN_-- 12/9/2010 6:22 PM Page 1

RÉSUMÉ REVIEW Media maven tunes back in Is your job search all it could be? We ask the experts. want to get some music going, What does Clear Channel have that’s so NAME MOLLY HONIGSFELD Former mic man special? what’s the most convenient thing? SUMMARY takes Clear Channel’s You click on your favorite radio sta- We have incredibly powerful local tion. brands. Just ask people about Lite- Experienced fundraiser at a range of digital challenge FM or Z100 here in New York, and institutions How will Clear Channel compete with hip you’ll get a rise out of them.We have PROFESSIONAL EXPERIENCE newcomers like Pandora? complete national reach and yet Asphalt Green, 2006-2010 BY MATTHEW FLAMM My view of Pandora is it’s a nice we’re local, which is very beneficial service that should be a feature on to advertisers. On the creative side, Director of development EST KNOWN AS the founder our station websites. But people do we have the ability to experiment. If Rebuilt fundraising operation to generate financial support for of MTV and as a top exec- like personalities; they bond with something works in our smaller $12 million nonprofit sports and fitness complex utive at AOL in its heyday, them, and having them is an markets, we can roll it right up St. Mary’s Foundation for Children, 2004-2006 Robert (“Bob”) Pittman added benefit for us and our the food chain. Director of individual giving Bbegan his career as a radio announc- advertisers. Responsible for building program for $98 million pediatric health care er and programmer. He returned to If radio is such a great medium, network serving 4,000 children his roots last month when How did you get roped back why aren’t advertisers spend- Ms. Foundation for Women, 1999-2004 he stepped into the newly created into radio, which many consid- ing more on it? Major gifts officer position of er a dying business? Part of the problem is the Designed first major gifts program; doubled donor-fundraising revenue in chairman, I had been talking over the way radio has traditionally three years media and en- summer with the [private sold advertising. We’d wait EDUCATION tertainment equity] sponsors of until somebody already MOVERS & New School University, Robert J. Milano Graduate School of SHAKERS platforms, at the Clear Chan- wanted radio and Clear Chan- nel [acquisi- then fight the other Management and Urban Policy, nonprofit management program; 20 nel Commu- tion] deal,and I stations for their credits toward M.S. degree Robert nications. Mr. realized with share. The big op- City College of the City University of New York, bachelor of fine arts Pittman Pittman’s task radio I’m sort portunity is to go Résumé appears in condensed form. is to create of an addict.If to advertisers with EXPERT ADVICE a comprehen- I touch the a complete mar- sive digital stuff again, I keting plan that Molly has quantified her results, but a professional summary would help strategy for Clear Channel’s 850 ra- get really ex- will move the nee- clarify what she’s looking to do next. It could include a one- or two- dio stations, which include Z100, cited. If you dle for their busi- sentence review followed by three or four major accomplishments. Her 106.7 Lite-FM, Q104.3 and two can help a ness using not résumé could fit on one page if the bullets are results-driven and succinct. others in New York. company with only our terrestri- —connie thanasoulis-cerrachio, career expert, Vault.com these kinds al assets but our Can you boil down Clear Channel’s digital of assets move digital assets, To contact this candidate or to be featured in “Résumé Review,” e-mail us strategy? at Internet and the rela- at [email protected]. It’s quite simple. Our strategy is to speed, then tionships we’ve be wherever our listeners are. If nobody can got with talent you’re on the computer and you come close. and events. Ⅲ getty images

EXECUTIVE MOVES restoration of Tanzania’s Eastern Arc Colliers International: Vince Tuminelli, company as vice president of strategic entertainment clients at Capital rainforests. She was previously country 53, joined the New York office of the planning and hotel business Markets Advisors. director of the High Atlas Foundation real estate firm as executive managing development. She was most recently an United Way of New York City: Kevin Continued from Page 21 in Morocco. director. He was formerly a senior vice associate at Skadden Arps Slate Taylor, 46, was appointed senior vice director of food and beverage. He was CBS: David Berson, 38, president of CB Richard Ellis. Meagher & Flom. president for institutional advancement previously food and beverage manager at was named president The Forward: Barry S. Surman, 48, was Perkins Eastman: J. at the nonprofit organization. He was The Westin New York. of CBS College named associate publisher of the David Hoglund, 55, formerly managing director of Elizabeth Arden Inc.: Bret I. Parker, 42, Sports Network and independent newspaper. He was most was appointed development at the Robin Hood joined as vice president and associate executive vice recently president of Eye Multimedia, president. He was Foundation. general counsel for the cosmetics, president of CBS which he co-founded. previously chief EdgeRock Realty Advisors: Dennis Pollack, fragrances and skin-care company. He Sports. He most Citi Private Bank: Justin Waterman, 31, operating officer for 60, was appointed senior managing was previously vice president and recently served as joined as a director and investment U.S. operations. director of the private placement assistant general counsel at Wyeth, now executive vice counselor for the New York region. He Shawn Basler, 38, was practice at the investment banking firm. part of Pfizer. president, programming and planning was most recently with Barclays appointed to the board Most recently, he was a partner and African Rainforest strategy, at ESPN. Wealth, where he was a director and of directors at the architecture firm. He senior managing director at Valens Conservancy: Kate Fulbright & Jaworski: David Kessler, 38, head of portfolio consulting and wealth remains a principal. Capital Management. McLetchie, 32, was joined the law firm as co-head of the management reporting in the Hall Capital Partners: Simon Krinsky, 36, Ross Bartfield, 49, was named a senior named executive e-discovery and management practice. Americas. was promoted to co-director of portfolio vice president in the private placement director of the He was previously a partner at Drinker Veria TV: Gabriella management at the investment practice. He joined from Valens Capital nonprofit, which is Biddle, where he founded the firm’s Messina, 46, was management firm. He continues as Management, where he was a managing dedicated to the e-discovery and data information appointed head of managing director. director. conservation and management task force. programming for the PepsiCo: Pamela Culpepper, 46, was LePatner & Associates: Joseph Jaffe, 66, healthy lifestyle and named senior vice president, global joined the construction law firm as wellness network. She diversity and inclusion officer, for the partner and principal of Proactive CORPORATE LADDER was most recently food and beverage company. She was Integrity Associates, the firm’s executive producer of formerly vice president, human investigative consulting affiliate. He digital video at Scripps resources, for Quaker Foods & Snacks. previously served as managing director ERIC DINALLO JOINS TOP LAW FIRM Networks. Brooklyn Academy of Music: Matt with UHY Advisors. Mesirow Financial: ERIC R. DINALLO, 47, former superintendent of insurance for New York state, Francois Teissonniere, Bregman, 46, was named vice president Jonathan Newcomb, 33, has joined 49, joined as senior managing director of of development at the performing and Proactive Integrity Associates as a joined Debevoise & Plimpton as a partner in the New York office and a the financial services firm. He was cinema arts center. He was previously principal. He was formerly a senior member of the financial institutions group. formerly managing director at director of development at El Museo del manager with UHY Advisors. Mr. Dinallo has a diverse background in both the public Rothschild. Barrio. Sports: Howard and private sectors. Prior to serving as superintendent, he BrainJuicer: Alex Batchelor, 44, has been Miller & Wrubel: John G. Moon, 49, joined Jacobs, 48, was promoted to executive was general counsel of insurance firm Willis Group Holdings elected an executive director of the the law firm as a partner. He was vice president of marketing and sales. and, before that, a managing director and global head of marketing consultancy’s board; he previously executive director, litigation, He was most recently senior vice continues as chief operating officer. at UBS Investment Bank. president of marketing and ticket sales. regulatory affairs at Morgan Stanley. Zemoga: Brian Swarth, 36, was named Egon Zehnder International: Manuel de —maggie wells Earlier this year, Mr. Dinallo was a candidate for client strategist and managing director in Miranda, 46, was promoted to leader of the Democratic nomination for state attorney the media and entertainment practice at the U.S. human resources practice at the EXECUTIVE PROMOTIONS general. He is also an adjunct professor at New the digital services agency. He was most executive search firm. He was a partner. York University’s Stern School of Business. recently senior director of strategy and Nixon Peabody: Christopher Melvin, 60, The fastest way to get an announcement into —BRIAN CHAPPATTA business operations for MTV Networks. joined as managing director in the law Crain’s is to submit details online. Fill out the form Trump Hotel Collection: Serena Rakhlin, firm’s public finance practice. He most at www.crainsnewyork.com/submit. The 28, joined the luxury hospitality recently managed sports and Executive Moves column is also available online.

22 | Crain’s New York Business | December 13, 2010 20101213-NEWS--0023-NAT-CCI-CN_-- 12/9/2010 6:25 PM Page 1 chemex / INSATIABLE CRITIC Gael Greene LIBRARY offers job seekers aged 40-plus flickr.com THE the opportunity to learn how to use WorkSearch, an online system that provides links to job openings, skills assessment tools and training programs. WEEK The free workshop will be held at 188 Madison Ave., training room 2, from 1 p.m. to 3 p.m. Seating is limited A bit of Tuscany AHEAD and follows a first-come, first-seated policy.The session will be repeated on several dates. Visit DEC. 20-26 www.nypl.org/locations/tid/65/calendar

in Gramercy for more information. newscom CONFERENCES & SEMINARS URAL CULTURALT EVENTS WHAT SHE’S Ciano has the genes TUESDAY , DECEMBER 21 MONDAY , DECEMBER 20 Pick PLUGGEDIN VENTURES invites you to an JAZZ OVER LINCOLN CENTER of the WEARING for perfection, though ECOMMERCE SUMMIT, where participants invites you to SOUNDS OF explore such topics as group commerce, THE SEASON, a concert at week JEWELRY DESIGNER Carol Brodie consistency is elusive social commerce and mobile commerce. the Empire Hotel Roof is bringing on the colorful sparkle The full-day event runs from 8:30 a.m. Lounge, 44 W. 63rd St. Guests this holiday season. “The biggest HEA GALLANTE was just an- to 5 p.m. It will take place at Greenhill will sit fireside and listen to holiday trend is color, color and more SAVP,300 Park Ave. Tickets are $250 classics and Django Reinhardt-inspired other chef to me. I ate once color,” says Ms. Brodie, a luxury at Cru when he was in the and can be purchased at pieces while enjoying views of city lights http://ecommercesummit-autohome. over Lincoln Center. A general retail consultant who hosts her kitchen making waves,but I eventbrite.com. Visit the eCommerce admission ticket is $20 and includes a own fine-jewelry show on HSN. don’t remember a single Summit site for full details at martini. All guests must be 21 or over. Her favorite look right now dish I ate. I’m only at Ciano because . The event will take place from 6:30 p.m. S steven richter www.pluggedinsummit.com includes short chains with pen- they were willing to assign an 8:15 BOLD, COMPLEX: Casarecce pasta to 9:30 p.m., with doors opening at dants—like an antique crescent table after I struck out at a trio of hot NETWORKING EVENTS 6 p.m. For more information and to moon or evil eye—layered with spots.The dining room is warm,with THURSDAY , DECEMBER 23 purchase tickets, visit longer beaded strings of colored old-fashioned Edison bulbs, a log CIANO The Manhattan chapter of BUSINESS nycsoundsofseason.eventbrite.com. fire, and servers in steakhouse jack- 45 E. 22nd St NETWORK INTERNATIONAL will hold a gemstones for a vintage feel. FRIDAY , DECEMBER 24 ets. We could be in a Tuscan town. (212) 982-8422 business-to-business networking event The former publicist for firms for small business owners, entrepreneurs, 2FLIGHTSUP presents “MAUREEN FLEMING The waitress is a bit tentative,but www.cianonyc.com such as Harry Winston and sales-motivated employees and anyone DANCES FROM HOME,” a photo installa- DeBeers has been wearing sap- she’s eager. Then the bread arrives looking to develop social capital. The tion by choreographer and performance with olive oil and ricotta truffle but- event takes place at AJ Maxwells, 57 W. artist Maureen Fleming featuring live phire earrings, several bracelets ter. The crusty green olive chunk CUISINE Italian 48th St., from 7 a.m. to 8:30 a.m. Visit performance and video presentations. and rings of white or champagne- and rich focaccia taste fresh from the www.manhattanbni.com for informa- The live presentations will be at 8 p.m. hued diamonds. “In summertime, PRICE RANGE Pasta $17-$26, oven.I never use butter on my bread, tion. To reserve, call (347) 251-1260 or and 9 p.m. at 2FlightsUp, 6 E. Second I go for goddess gold, which is but I’m wild about this tangy blend. entrées $28-$48 e-mail [email protected]. St. Admission is $10 in advance and $20 beautiful with a bronze skin tone,” at the door. Seating is limited. For I’m smearing it on, again and again, SERVING DinnerORKSHP 7 days W says Ms. Brodie. “But for the when rock shrimp polpette arrives.I information, call (212) 677-6998 or visit winter, I’m going for more colored RESERVATIONS Yes WEDNESDAY , DECEMBER 22 www.maureenfleming.com. know we didn’t order crostini, but THE SCIENCE, INDUSTRY AND BUSINESS —maggie wells gemstones, platinum, white gold here they are,luscious with whipped NOISE LEVEL Not unbearable and silver.” chicken-liver mousse, crab under I can’t wait to return. To view Crain’s classified events listings, go to www.crainsnewyork.com/events —ADRIANNE PASQUARELLI spicy sopressata, and roasted pep- I will definitely go back. pers. Here’s our crusty arrancini. Lovely.That we did order. I’ll let them simmer awhile. The Borlotti bean soup with cab- NO HATS Never again. bage,fennel pollen,baby turnips and !"#$%&'()"#$*$'+('$ pancetta is deeply satisfying. As are the Nantucket bay scallops:delicate- flat and tasteless.Worse,the calamari ),$-./0,/1$23$0443546/$27/$83..39:4;$?@$ABC'+($'D%&&D mostarda. Granted, the calamari Morfogen himself, emerges bringing )($ABC'+($'EB!%& frisée salad is just OK. Everything bowls of marvelous tripe with house- else has been thrilling, especially the preserved cherry tomatoes, roasted )42/<-5F.:6$G<35-$38$"3H-04:/,$)46I sweet caramelized veal meatballs. artichoke,parmesan cheese and frisée ?JKL@$,MI$82IJ$N27$O.33< A quartet of pastas are bold and salad. “The chef sent it to apologize $%/-

December 13, 2010 | Crain’s New York Business | 23