LIFELINES for the LOVELORN* Hundreds of New York Businesses, High-Tech VOL
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CRAINSNEW YORK BUSINESS What Trump’s tax plan might mean for New Yorkers P. 5 | The List: NYC’s top health insurers P. 11 | The surprise value of good deeds P. 16 NEW YORK BUSINESS® NOVEMBER 21 - 27, 2016 | PRICE $3.00 LIFELINES FOR THE LOVELORN* Hundreds of New York businesses, high-tech VOL. XXXII, NO. 47 WWW.CRAINSNEWYORK.COM and low, help the city’s 3.2 million singles find a date—or something more lasting Page 12 *Cover models Francia Cooper, a global marketing manager, and Carl Grant, a software engineer and actor, are single and looking! NEWSPAPER P001_CN_20161121.indd 1 11/18/16 8:40 PM NOVEMBER 21 - 27, 2016 CRAINSNEW YORK BUSINESS FROM THE NEWSROOM | JEREMY SMERD | EDITOR IN THIS ISSUE Save lives, not hospitals 4 AGENDA 5 IN CASE YOU MISSED IT MEMO TO MAYOR BILL DE BLASIO and any other political leader Eli Zabar’s 6 WHO OWNS THE BLOCK who equates saving a hospital with saving lives: “If we are Vinegar 7 REAL ESTATE Factory still in the paradigm that’s all about the hospital, protecting to close its that centerpiece, I will tell you: We are out of touch with 8 ASKED & ANSWERED retail store reality. And if you’re not willing to shift that narrative, then 9 FOOD you’re working on the wrong thing. You’re working on how 10 VIEWPOINTS to save a hospital. I’m working on how to save lives.” 11 THE LIST Those were the words of Bernard Tyson, CEO of the FEATURES country’s largest managed health care organization, Kaiser Permanente. Tyson flew in from California to keynote our 12 HOW TO DATE IN NEW YORK health care conference last week and to deliver that mes- You’re working on 14 LEARNING CURVE sage to New York health care executives. Many already get 16 PROFITS OF PRO BONO it. Too many don’t. And compared with Kaiser, change at “how to save a New York institutions is painfully slow. hospital. I’m Tyson said that half of Kaiser’s 100 million encoun- working on how ters between patients and doctors take place virtually. No New York health system even comes close to that. to save lives The point is that health care should be delivered on pa- tients’ terms, which means bringing it into the communities where they live. To P. 20 treat chronic illness and keep New Yorkers out of hospitals, money needs to be LEIGH ANN TISCHLER spent on social workers and educators who can guide individuals around the bar- 20 GOTHAM GIGS riers that keep them from being healthy, even if that means helping them earn a living, buy fresh food or find a place to live. Some New York providers already 21 SNAPS do that. They are the ones taking advantage of the state’s $8 billion Medicaid waiver 22 FOR THE RECORD to invest in this kind of “total health care,” to borrow a phrase from Tyson. 23 PHOTO FINISH The mayor and the governor have a chance to help New York pick up the pace. The city’s public hospital system is on track to lose $1.8 billion by 2020. NYC Health + Hospitals has stated its intention to consolidate, yet political leaders prom- ise no hospitals will close. The city gave the system a no-questions-asked $497 mil- lion bailout earlier this year, and now its CEO, Dr. Ram Raju, is quitting Nov. 30, jeopardizing any urgency the system may have felt to transform. Last week, meanwhile, a long-awaited report recommended that four more money-losing Brooklyn hospitals merge into a single health system, with one of them, Kingsbrook Jewish Medical Center, no longer existing as a community hospi- tal. Gov. Andrew Cuomo and the boards of these hospitals should approve the plan. ON THE COVER If they don’t, taxpayers will be throwing more good money after bad, while PHOTO: BUCK ENNIS underinvesting in the jobs of the future. “Access [to health care] is a function of trust,” said Dr. Amanda Falick Ascher, chief medical officer of Bronx Partners for Healthy Communities, at our conference. “It’s not a function of bricks and mortar.” DIGITAL DISPATCHES Go to CrainsNewYork.com NOMINATIONS ARE OPEN RISING STARS READ Barbra Streisand DO YOU KNOW AN UP-AND- will headline the next COMING NEW YORKER? Tribeca Film Festival, > starting April 19, CRAIN’S wants to hear from 2017, the organiza- you. To submit a nominee, go to tion announced. CrainsNewYork.com/40nominate. Because of the high volume of n AOL made public plans applications, a $199 service fee to lay off 5% of its work- will be charged to process and force, or about 500 people. review submissions. n Brooklyn Chamber of Commerce Presi- NOMINATIONS CLOSE dent Carlo Scissura was named to replace JAN. 6, 2017 Richard Anderson as head of the New York All nominees must be under Building Congress. 40 years old as of March 27, 2017. n The Trump Organization is asking city officials for permission to make changes Vol. XXXII, No. 47, November 21, 2016—Crain’s New York Business (ISSN 8756-789X) is published weekly, except for that would allow it to redesign Trump Golf double issues the weeks of June 27, July 11, July 25, Aug. 8, Aug. 22 and Dec. 19, by Crain Communications Inc., 685 Third Links at Ferry Point so the public golf course Ave., New York, NY 10017. Periodicals postage paid at New York, NY, and additional mailing offices. Postmaster: Send could host major PGA tournaments. address changes to: Crain’s New York Business, Circulation Department, 1155 Gratiot Ave., Detroit, MI 48207-2912. For subscriber service: Call (877) 824-9379. Fax (313) 446-6777. $3.00 a copy, $99.95 one year, $179.95 two years. (GST No. 13676-0444-RT) ©Entire contents copyright 2016 by Crain Communications Inc. All rights reserved. BUCK ENNIS NOVEMBER 21, 2016 | CRAIN’S NEW YORK BUSINESS | 3 P003_CN_20161121.indd 3 11/18/16 8:44 PM WHAT’S NEW NOVEMBER 21, 2016 AGENDAEnough already, Cuomo and de Blasio. New York faces bigger issues he hostility between Gov. Andrew Cuomo and Mayor Bill de Blasio has never been good for New York City, but it’s espe cially bad now that the city is facing policy and funding threats from an upended federal government. It is past time Tfor the two men to fix their relationship. The mayor and governor don’t deny that there’s an issue—at least, they POSITIVE STEP: have stopped claiming to be friends. But they insist that their administra Cuomo and de tions cooperate and that the people’s work is getting done. Talk to folks in Blasio have made strides toward the know, though, and they will tell you that many joint efforts are not even mending their rift attempted because the two executives don’t get along. but still have a long way to go. This could be because Cuomo doesn’t want to share credit with the de Blasio administration. Maybe he doesn’t want a partner whose bureau cracy or ideology might slow down an operation or require compromises. next year. New York’s leaders should work together to oppose policy Also, the governor surely sees a political benefit to diminishing a mayor changes harmful to our economy. If companies cannot import foreign tal who is unpopular in the suburbs and upstate, and not especially liked in ent and deportations break up families that staff and own businesses across his own city, for that matter. the city, innovation and commerce will suffer. Our wallets would take a hit Still, Cuomo’s approval ratings don’t depend on de Blasio being his foil if we lost the option to deduct state and local taxes on our federal returns. or whipping boy. The governor just needs The wild card is the 2020 presidential to be an effective manager, and for the most Our federal funding will take a hit if race. Democratic Party leaders are already part he has been. scouring the land for candidates, and as one What’s needed now is a united front. congressional Republicans get their of the few bigstate Democratic governors, What is good for New York City is good for way. We need a united front Cuomo has seen his name come up. De Bla the state, since the city sends more to Albany sio has also been mentioned, though he lacks in taxes and fees than it gets in return. And the charisma and political independence that much of what New York City gets from the federal government comes got Sen. Bernie Sanders to the cusp of the Democratic nomination. through the state, though that funding could take a hit if congressional Re If the governor and mayor see themselves as rivals for the White House, publicans make good on promises to reduce spending when Presidentelect reconciliation won’t happen. But if, say, the mayor were to rule out a cam Donald Trump takes office in January. paign, Cuomo could make peace and look presidential instead of petty. Immigration and tax reform are shaping up to be fierce battlegrounds And New York would benefit from their détente. — THE EDITORS FINE PRINT Seventy percent of New York small businesses expect to meet year-end revenue goals, a survey from Bank of America reported. That’s good news for employees. Three-quarters of businesses with revenue between $100,000 and $5 million plan to offer some kind of holiday perk: Thirty-eight percent will close their offices; 36% will pay bonuses; 26% will give holiday gifts; and 24% will host a holiday party.