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INSIDE CRAIN’S ENDORSES A TOP STORIES CANDIDATE FOR Fate of city’s ATTORNEY recovering economy GENERAL IN DEM PRIMARY hinges on nation ® PAGE 2 SEE PAGE 10

VOL. XXVI, NO. 34 WWW.CRAINSNEWYORK.COM AUGUST 23-29, 2010 PRICE: $3.00

Get discount duds and a spa vacation PAGE 2 INSIDE THE BLT BREAKUP An insurgent’s quixotic bid for a Partners open up about messy split; loose ends dangle seat in Congress PAGE 3 BY LISA FICKENSCHER

Two major sponsors jimmy haber and Laurent rescue City Center’s Tourondel had a marriage made in heaven.Mr.Haber brought money Fall for Dance and business savvy to the table, PAGE 3 while Mr.Tourondel,an acclaimed French chef, landed their BLT Shareholders gross restaurant empire on an elite culi- nary map garnering rave reviews out on gross-ups, and ardent fans. and some listen But on March 1 they split, breaking up their family of 17 IN THE MARKETS, PAGE 4 restaurants across the country,nine of which are in luxury hotels. The intensely driven men, one with a flair for finance and the other a cre- ative force, couldn’t agree on how to expand the company and what Mr. Tourondel’s role would be as new restaurant concepts were added to the portfolio of mostly pricey steakhouses. One thorny is- sue was adding a family-style Ital- ian eatery to the group, which last year generated revenues of approx- imately $70 million. NOT SMILING NOW: BUSINESS LIVES As in most divorces, the details Jimmy Haber (left) composite image:crain photography, diana delucia istock See INSIDE on Page 20 and Laurent Tourondel GOTHAM GIGS A real Spider-Man scales the heights P. 21 G ANNE FISHER on how to fight City Hall—and News’ presses print red ink Housing’s win P. 21 G MOVERS & SHAKERS lose money for the third year in a In July, longtime Editor-in- rebound Derek Johnson has big Mercurial Mort row. Chief Martin Dunn announced plans for Yéle Haiti P. 22 fires again after “The presses were a long shot,” that he was leaving to care for his G GAEL GREENE goes for says Ken Doctor, a newspaper an- wife, who is ill. In that case, Mr. stalling the fried chicken P. 23 new machines fail alyst with research firm Outsell. Zuckerman replaced a high-pro- to turn the tide “Now the odds of them pay- file British editor with a ing off are even longer.” tabloid veteran, Boston Changes in federal Mr. Zuckerman’s reac- Herald Editor-in-Chief INDEX BY MATTHEW FLAMM tion to the shortfall has been -11% Kevin Convey,who starts rules could worsen DECLINE in swift and harsh. News Chief circulation of at the News this week. summer’s slump THE INSIDER ______8 nearly one year after Daily News Executive Marc Kramer, weekday paper Industry insiders esti- SMALL BUSINESS ______9 owner Mort Zuckerman’s three who had pushed for the in the six months mate that the turnover at ended 3/31 BY AMANDA FUNG OPINION ______11 new color presses came online, the presses as a solution to the the top will save Mr.

REAL ESTATE DEALS ______12 verdict is in on the publisher’s $200 paper’s troubles,got the ax by Zuckerman more than $1 million bet: Better luck next time. voice mail two Fridays ago,accord- million a year in salaries. But the signs are emerging that this FOR THE RECORD ______17 Despite his presses’ ability to ing to a person familiar with the changes also mark a turning point year’s surge in residential real estate CLASSIFIEDS ______18 churn out magazine-quality color matter. He was gone a week later. as the real estate magnate-turned- sales in the city may be running out HOT JOBS ______21 on every page,they’ve failed to halt He was replaced with Bill Holiber, media mogul scrambles for new of steam. EXECUTIVE MOVES ______21 the News’ two-year slide in adver- CEO of Zuckerman-owned U.S. tools to staunch losses caused by a The market posted stellar gains

THE WEEK AHEAD ______23 tising.As a result,insiders say,New News & World Report, who will weak economy and the continued in the first half of the year, but pre- York’s picture paper is on track to now run both publications. See NEWS on Page 20 liminary data for the summer months are pointing in a different

34 direction. Contract signings in

5 Manhattan in the months of June A CANCER ARMS RACE and July were down 12% and 25%, The war on cancer is taking a heavy toll on respectively, compared with year- hospital budgets. Plus, judges edge out juries earlier figures, StreetEasy.com re- ELECTRONIC EDITION ports. So far this month, signings on malpractice cases HEALTH CARE REPORT, P. 13 are down 49% versus last year. NEWSPAPER See CITY’S HOUSING on Page 20 71486 01068 0 20100823-NEWS--0002,0003-NAT-CCI-CN_-- 8/20/2010 7:53 PM Page 1

To keep shoppers interested, many sites IN BRIEF are turning to services or experiences,which Get a spa vacation cut down on inventory costs.Gilt just began FORDHAM UNIVERSITY GAINED A GREEN LIGHT its Gilt City division, offering discounts at FOR THE LONG-PLANNED EXPANSION OF ITS places like Townhouse Spa and the Brook- Lincoln Center campus on Manhattan’s West lyn Museum.The New York division is still Side after the New York Supreme Court with that silk dress being tested but will officially launch next dismissed a lawsuit that sought to block it.The month, and a Chicago site should be avail- suit—brought by the board of managers of the able this week. Gilt, which expects 2010 Alfred Condominium, located in the center of revenue of between $400 million and $500 the campus—claimed that the city did not have Flash-sale sites add discount travel, food million, is aiming for as many as 10 service the right to allow the school to develop new sales a week for New Yorkers. buildings within its campus.The city approved ry.For U.S.companies,where outlet centers “We realized there was a huge demand Fordham’s expansion plans in June 2009. Elliott BY ADRIANNE PASQUARELLI and off-price liquidators compete physical- for high-end inclusive offerings,” says Nate Meisel of Brill & Meisel, who represented the ly with these virtual sale machines,the flash Richardson, president of Gilt City, who Alfred, said his client intends to appeal the what goes with a discounted silk dress sites partner directly with manufacturers. could not provide membership numbers. decision.The plans include adding six new from Marc Jacobs, or a fur shrug from J. Similarly, Ideeli, with revenue of $150 buildings to its Lincoln Center campus. Phase Mendel? Judging from the latest craze million and 150 employees, introduced one involves building a new law school. to hit the online shopping world, Ideel Access this summer. For now, it’s a half-price trip to a tony the service is national, but a lo- THE NEW YORK METS EMERGED AS ONE OF THE South Beach resort. calized New York segment BIGGEST CREDITORS OF A SPONGE-MAKING Flash-sale sites, which goes live in September. The company that has collapsed into bankruptcy and made shopping for off- more consumers who sign whose management has been charged with price luxury apparel from up for a deal with Ideel Ac- fraud.The team is owed $2.6 million by a computer terminal as cess, the lower the price. SpongeTech Delivery Systems Inc., which was easy as a mouse click, are Los Angeles-based an advertiser at local sports venues. SpongeTech moving from the closet to Haute Look and Boston- also owes $175,000 to SportsNet New York, the spa.Companies including based Rue La La also promote which telecasts Mets games, according to a list of Gilt Groupe Inc. and Ideeli services in their sales, but they unsecured creditors filed in court last week. It Inc. are expanding to include have yet to put the items into separate owes Madison Square Garden $512,000, the services and food items, at the divisions. New York Islanders $150,000 and the New York typical markdown prices that Yankees $20,000.The fallen sponge company made the members-only sites Significant investments also owes $323,000 to WFAN, the sports-talk so popular. They have good “we’re investing a substantial radio station. For those keeping score, the Tampa reason—the total number of amount of time and money in the plat- Bay Buccaneers are owed $2.7 million, more visitors to Ideeli, Gilt, Haute form,” says Greg Bettinelli, sen- than any other team.
Look and Rue La La in July ior vice president of marketing was 213.6 million, up more for Haute Look, which has an- than 9% since July of last year, nual revenue of $100 million. according to tracking service Brick-and-mortar retailers BY THE NUMBERS ComScore Media Metrix. have noticed the success of the The demand is so strong that flash-sale model and have begun

Weekly shift of the city’s economy

smaller players, catering to EXPERIENCE THIS: Ideeli testing the waters. Saks Fifth

ALL THAT GLITTERS nowadays is gold and niche industries like wed- (above) and Gilt (right) Avenue featured a temporary   bonds, and that ain’t good. Stocks slumped dings, are sprouting up. In ad- now offer discounts on sale last fall,while Neiman Mar- under the weight of bad news on manufacturing, dition, traditional retailers restaurants and travel. cus recently joined the fray by housing and the deficit. like Saks Fifth Avenue and hosting a “secret” flash sale this Neiman Marcus are elbowing their way in. Experts say most flash-sale companies in past May. Experts expect more high-end the U.S. sell a combination of exclusive department stores and specialty stores to -2.5% $1.07T -20.4% Web-enabled Thanksgiving “door-buster” FALL in hedge PREDICTED U.S. FALL in merchandise and goods on consignment follow, yet they warn that stores run the fund performance budget deficit for investment “it’s an old formula, but one of the most from the designers themselves. risk of being labeled discounters. index in 2Q vs. fiscal 2011, up banking jobs in successful merchandising strategies of all It’s no accident that the growth rate of “The major retailers have an opportu- prior quarter from March est. NYC in July from time,” says Sucharita Mulpuru, vice presi- sites like Gilt and Ideeli,which now have 3.4 nity to establish their own [flash sales],but Source: Hedge Fund of $996B year earlier, to Research Inc. Source: U.S. 34,800 dent and principal analyst of e-business at million and 3 million members, respective- they have to be careful that all of their Congressional Budget Source: NYS Forrester Research. “They provide a Web- ly, soared while the economy plummeted products don’t fall into this model,” says Office Department of Labor enabled Thanksgiving ‘door-buster’ every over the past three years. Consumers signed Gene Alvarez, research vice president at day for limited hours with limited merchan- up in droves,eager to devour steep discounts advisory firm Gartner Inc. RAISING THE ROOFS After steep drops early on this year, dise.” on designer duds discreetly—without broke Smaller websites are also jumping on the number of housing units that builders are applying for permits to construct has picked up smartly. The origin of online flash sales dates neighbors seeing multiple shopping bags. the bandwagon, if they can find their back almost a decade to the launch of There’s also an element of excitement, since niche.Next month,Aisle New York,which French company Vente-Privee. As a mem- each sale lasts only a few hours. sells bridal apparel from coveted designers bers-only e-commerce site, Vente-Privee “It’s that feeling that you’re a member of like Oscar de la Renta, will go live. discounts goods by as much as 70%, work- a secret club that comes at the same time “There will be intense competition in ing on consignment with vendors and every day,” says Larry Joseloff, vice presi- this space over time, but we’ll see who the eliminating the risk of purchasing invento- dent of content at Shop.org. long-term winners are,”says Mr.Alvarez.

Source: U.S. Census Bureau Nation’s woes threaten NYC CORRECTIONS The Heddings Property Group had 2009 revenues of more than job growth outpaced that of the U.S. as a according to Frank Braconi, chief econo- $1 million. The company’s name and revenues were misstated in City outpacing U.S. in whole as well. The city’s growth rate was mist in Mr. Liu’s office. the Aug. 16 Small Business column, “Are your hours too long? Take back your weekends.” job growth, but prospects 1.1%, well ahead of the nation’s less than “We beat the point spread for sure,”Mr. Starbucks remains a tenant at the Shops at Atlas Park. Its status 0.1%, and prompting Mayor Michael Braconi says. was misstated in the Neighborhood Journal column “Queens mall hinge on rest of country Bloomberg to say that “clearly we are mov- But will New York City be able to sus- is getting re-stored,” published Aug. 16. ing in the right direction.” tain its momentum? Last week brought sobering news on the national front as ini- BY DANIEL MASSEY City’s economy claws its way back vol. xxvi, no. 34, august 23, 2010—Crain’s New York Business (issn tial unemployment claims rose and manu- 8756-789x) is published weekly, except for combined issues June in all, New York added 11,800 jobs in facturing activity declined in the mid-At- 28/July 5, Aug. 30/Sept. 6, and Dec. 20/Dec. 27, by Crain Com- munications Inc., 711 Third Ave., New York, NY 10017. Periodicals new york city’s economic rebound con- July, according to a seasonal adjustment of lantic region. Following substantial gains postage paid at New York, N.Y., and additional mailing offices. tinues to outpace that of the rest of the state Department of Labor data by the Of- early in the year,job growth here in the city Postmaster: Send address changes to: Crain’s New York Business, country, but as the U.S. recovery sputters, fice of New York City Comptroller John leveled off the past few months, before Circulation Department, 1155 Gratiot Avenue, Detroit, MI 48207-2912. for subscriber service: Call (888) 909-9111.Fax the city may not be able to defy national Liu, accounting for almost 17% of the picking up steam again in July. In the five (313) 446-6777.$3.00 a copy, $59.79 one year, $109.79 two years. trends much longer. 71,000 jobs gained nationwide.From Sep- boroughs, leisure and hospitality added (GST No. 13676-0444-RT) ©Entire contents copyright 2010 by Crain Communications Inc. The city’s July unemployment rate came tember 2008 through December 2009,the 5,500 jobs,while professional and business All rights reserved. in last week at 9.4%, lower than the nation’s city lost 166,000 private-sector jobs, but it services added 4,200. 9.5%, and its over-the-year private-sector has already gained back 70,000 of them, See NYC FORECAST on Page 17

2 | Crain’s New York Business | August 23, 2010 20100823-NEWS--0002,0003-NAT-CCI-CN_-- 8/20/2010 7:53 PM Page 2 An insurgent’s long shot

Saujani brings her RESHMA history to bear in a SAUJANI quixotic bid for seat PERSONAL held by Maloney 34 Has a boyfriend BY JEREMY SMERD Hindu Born in Chicago last year, Reshma Saujani was no JOB EXPERIENCE more than a foreign-sounding Attorney for Davis name on a long list of candidates Polk & Wardwell; who wanted to run for the seat on general counsel at the verge of being vacated by Rep. Carolyn Maloney.When Ms. Mal- Fortress Investment oney decided last August not to run Group for the U.S. Senate, the other EDUCATION would-be candidates dropped out Yale Law School; in deference to the incumbent. Ms. John F. Kennedy Saujani, a 34-year-old hedge fund School of lawyer, stayed in. Government at Now, she’s giving Ms. Maloney, who is 64, her first Democratic pri- Harvard University; mary challenge in 18 years. That’s University of Illinois eliciting scorn from the city’s De- CAMPAIGN mocratic political establishment, COFFERS (as of which sees Ms. Maloney as the June 30) unassailable matriarch of a district Net contributions: that she helped transform into a $1.2 million; Democratic stronghold. Ms. Saujani has eschewed the cash on hand: more traditional route of first run- $428,363

ning for a minor office and cultivat- gibbons catherine ing endorsements among labor and elected officials to build a base of Running on a narrative self as the daughter of engineers support. ms. saujani’s campaign has cap- who were uprooted from Uganda CAROLYN MALONEY Instead, she has relied on her tured the attention of many, includ- when Idi Amin expelled Indians in personal narrative—that of a ing Bishop Mitchell Taylor, the in- the early 1970s. On Jan. 14, 1973, PERSONAL daughter of political refugees who fluential senior pastor of the Center her parents landed in Chicago wear- 64 earned an Ivy League education— of Hope International and the chief ing T-shirts and shorts, with $50 in Widow and her fundraising prowess to pro- executive of the East River Devel- their pockets. Presbyterian pel her campaign. While her policy opment Alliance. He invited Ms. “More than 35 years later, their Born in Greensboro, N.C. differences with Ms. Maloney are Saujani,just as he had Ms.Maloney, daughter is running for United JOB EXPERIENCE House of minimal,she hopes to convince vot- to speak to his small but fervent con- States Congress,” she says. Representatives from 1992 to present; ers that incumbents shouldn’t be re- gregation in Long Island City. A single shout of “hallelujah”ris- City Council from 1982 to 1992 placed only when they die. On a recent August Sunday in es up from a congregant. EDUCATION Greensboro College “I think we need to have new the nondescript church, across the people, fresh faces running for street from the Queensbridge hous- A knack for fundraising CAMPAIGN COFFERS (as of June 30) Congress,” Ms. Saujani says— ing project, the choir sang a love ms. saujani’s story of being a self- Net contributions: $2.5 million; “people who are passionate and en- song to Jesus. Ms. Saujani, a Hindu, made immigrant offers a com- cash on hand: $2.1 million

ergetic.” took the pulpit and introduced her- See INSURGENT on Page 17 bloomberg news

The event has been a major boon show in Fall for Dance. to the dance world, which has suf- “We never imagined it would be MetLife, Bloomberg LP fered from declining audiences in this successful,” says City Center recent years. City Center says it has Chief Executive Arlene Shuler. “It benefited,as well.Nearly 40% of the has met all of our original goals in 27,000 ticket-buyers last year were bringing in a younger, more diverse age 24 through 45, and a quarter of audience for dance.” them had never attended a perform- attend the dance Reaching broad audiences ance at City Center before. Nearly executives at The MetLife Foun- dance extravaganza, which opens the San Francisco Ballet.Tickets go dation say they decided to fund the NY City Center’s Sept. 28. City Center declined to on sale Sept. 12 and usually sell out Only 15% festival after following its progress Fall for Dance reveal the amount of the within three days. over a number of years. Bloomberg grant, but sources say it of the costs “A key pillar for us in the arts is gets lifeline from comes to hundreds of thousands of Altria Group pulls out about reaching broad audiences by two big sponsors dollars over the course of two years. fall for dance was initially fund- are covered by making the arts more accessible for MetLife says it gave $150,000 for ed by Altria Group. But when the all ages and backgrounds, and the this year. tobacco giant moved its headquar- ticket sales Fall for Dance festival embodies all BY MIRIAM KREININ SOUCCAR The festival, launched seven ters out of New York in 2008,it end- of those things,” says Rohit Bur- years ago in an effort to build new ed its generous support of arts man, program director for culture after scrambling to fund its pop- audiences for dance, has become an groups and left City Center hustling and public broadcasting at The ular Fall for Dance festival for the annual ritual for dance lovers. All to find funding for the popular pro- MetLife Foundation. past few years, New York City Cen- tickets are priced at $10, and audi- gram.The festival costs $1.5 million half of the attendees said the festival Mr. Burman says the founda- ter has secured two major corporate ences get to see a variety of troupes to produce, but only 15% of that is had encouraged them to see more tion’s grant was a substantial sponsors for this year’s event. in one night.This year,the event will covered by ticket sales. Last year, an dance in general, and 62% said they amount for it, and it is in talks to Bloomberg LP and The feature 20 national and internation- anonymous donor underwrote a attended additional performances continue the funding for additional MetLife Foundation have signed al companies including the Merce portion of the costs at the last at the performing-arts center years. Bloomberg declined to com- on as lead sponsors of the 12-day Cunningham Dance Company and minute. throughout the year after seeing a ment for the story.

August 23, 2010 | Crain’s New York Business | 3 20100823-NEWS--0004-NAT-CCI-CN_-- 8/20/2010 7:54 PM Page 1

Unraveling American Apparel IN THE MARKETS could put NYC stores on block by Aaron Elstein

Bankruptcy threat neighborhoods where American driving the company under. Apparel has more than one store, Since news broke of the retailer’s puts cloud over such as SoHo and downtown problems, its share price has plum- Grossed out by gross-ups Brooklyn.“It would seem that those meted by 45%. The stock closed on chain’s 20 locations could be redundant,” says Ariel Friday at 75 cents per share. xecutive perks Schuster, executive vice president at don’t get much more BY ADRIANNE PASQUARELLI Robert K. Futterman & Associates. Timing was poor grotesque than gross- An American Apparel spokes- the chain burst onto the New E new york could see a lot more man said there are currently no plans York real estate scene,selling T-shirts ups, the money companies empty storefronts and a lot fewer to close any locations in the city,but in a wide variety of shades and retro pay top executives to cover metallic leggings and colorful body- the chain’s financial difficulties have looks by aggressively gobbling up the excise taxes generated by suits if edgy clothier American experts predicting the worst. The locations in trendy areas from all of the other lavish perks Apparel Inc. files for bankruptcy. company warned last week that it Williamsburg,Brooklyn,to the Up-

The retailer is facing mounting per West Side. The bulk of the re- and pay they are awarded. bloomberg news financial pressure due to slowing tailer’s leasing activity came during According to a study by SCALING BACK: Bed Bath & Beyond co- sales and a hefty debt load. As a re- Bulk of retailer’s the past five years, during which it chairmen, Warren Eisenberg and Leonard consulting firm Towers Feinstein, lost a rich perk. sult, the chain could be forced to opened 13 locations here, despite close or sublease as many as a third leasing activity the souring economy. Watson, 77% of the nation’s of its 20 New York City stores, bro- “They did their big push in ’06, top 1,000 companies offered this perk in 2007, up from just kers estimate. came during the ’07 and ’08, when rents were high- 10% in 1987. Not surprisingly, it costs shareholders a small The California-based chain, est,”Mr.Schuster says.“Their target fortune to pay highly compensated executives’ tax bills; the known for its controversial ad cam- past five years audience was wider than most, so paigns and hipster styles, has an av- they went to these places where no average gross-up is valued at about $14 million, according to a erage store size in the city of around other apparel tenant will go, like the 2008 study by RiskMetrics Group.The Corporate Library hit 3,000 square feet—although some Lower East Side.” the mark when it called these giveaways “the grossest perk.” range up to 6,000. Brokers expect Any closures could open the door some locations to struggle to find might not have enough cash to last for a wide range of replacement ten- Now there are signs that compa- lion in total compensation last year. takers. through the end of the year. ants,including banks,delis and oth- nies are starting to listen. A spokesman didn’t return a call Its debt, as of June 30, was more er apparel retailers. Since American Last week, Bed Bath & Beyond Inc. asking why Bed Bath eliminated Not mass-market locations than $120 million, up 32% from the Apparel’s stores vary in size and lo- disclosed that it is doing away with gross-ups. But a handful of other “there are some stores, like the prior quarter. For the quarter ended cation, brokers predict that any the gross-ups that its co-founders companies have disclosed plans to TriBeCa store, that are just neigh- June 30, the company expects a loss number of tenants could sublease and co-chairmen, Warren Eisen- get rid of them,including insurer The borhood locations, and those will be of $5 million to $7 million, com- the existing spaces. They just hope berg and Leonard Feinstein, would Hartford Financial Services Group and harder to lease than mass-market pared with a profit of $7.3 million in they won’t stay vacant. have gotten had they decided to sell coal-mining company Massey Energy locations,” says Richard Hodos, ex- the same quarter a year earlier.In ad- “Retail right now is in a bit of a the company. Co. ecutive vice president at CB Richard dition, Chief Executive Dov Char- precarious state,” says Mr. Hodos. It isn’t clear exactly how much the It’s worth noting that Bed Bath Ellis. ney, who has battled sexual-harass- “Retailers in general are proceeding gross-ups would have been worth, hasn’t completely changed its tune. Brokers also expect closures in ment allegations, is under fire for very cautiously.”
but according to a regulatory filing While it no longer offers tax gross- from the Union, N.J.-based compa- ups, it will engage in what it calls a ny, Mr. Eisenberg would have been “contingent cutback” and reduce its eligible for up to $18.1 million in pay co-chairmen’s pay and benefits if the and Mr.Feinstein for up to $19.4 mil- reduction would result in “a greater lion in the event of “change in con- amount payable” to the executives trol.” No other Bed Bath executive after accounting for excise taxes. appears to have been granted gross- As is usually the case concerning up benefits. Each received $4.2 mil- lavish executive pay,change is halting. Basel targets banks’ bondholders ah, basel. The Swiss city has been that any bank requiring a government home to such luminaries as Renais- rescue be required to convert its debt sance scholar Erasmus, tennis star into equity first, so that bondholders Roger Federer and Albert Hofmann, and stockholders suffer equally. the scientist who synthesized LSD. It sounds arcane, but as analysts at It’s also home to heaps of banking CreditSights pointed out last week, regulators who are drafting new rules the change would have “profound im- dictating how much capi- plications.” If bondhold- tal banks must hold in the ers are concerned that they new era of finance. may not get paid back all Last week, the regula- they’re owed,many will be tors working on the rules, reluctant to invest in which are collectively banks. That, in turn, known as Basel 3 (don’t ask would limit the amount of about 1 or 2),turned heads capital banks can raise by proposing a revolution- and—here’s the kicker— ary concept: Bondholders could force the really big should actually suffer banks to shrink. when banks get into serious trouble. It’s all quite preliminary. Indeed, During the golden era of bank the folks at Basel demurely call their bailouts (circa October 2008), share- proposal a “consultative document.” holders suffered huge losses, while But just maybe the buttoned-up rule- bondholders, along with banks, got writers in the land that gave us the rescued. Hardly fair, that. cuckoo clock will turn out to be a band So, the Basel folks are suggesting of banking radicals.

THE PERCENTAGE OF INDIVIDUAL INVESTORS who yanked the majority of their investments from the market over the past two years, according to a 13%survey of financial advisers by advertising agency Doremus and CNBC. Fully 55% of clients “wanted to” get out of their investments but didn’t follow through.

4 | Crain’s New York Business | August 23, 2010 CN013879 8/17/10 1:26 PM Page 1

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NEW YORK,NEW YORK edited by Valerie Block

Publisher erases staffers t’s fear and loathing time at Simon & Schuster. Senior Editor Ruth Fecych is the latest casualty since the reign of IPublisher Jonathan Karp (left) began in June. Strangely, her firing—which hasn’t been announced—will be delayed until she finishes work on Molly O’Neill’s cookbook One Big Table, which will be out in November, two former staffers say. Likewise, longtime publicity chief Victoria Meyer, who was also fired, will stay on until October to oversee publication of the Bob Woodward blockbuster on President Barack Obama coming in September. It’s no surprise that Mr. Karp wants his own editors, but critics complain about his methods. Last week, he fired Senior Editor Sarah Hochman after singing her praises, one source says. “People don’t trust him. If he says, ‘You’re doing great work,’ it’s like, ‘OK, that means I’m getting fired tomorrow.’ ” A Simon & Schuster spokesman declined to comment.

says an Armory Show spokesman. Nordstrom “We invited ’wichcraft to make a shops for site presentation.” Next March, attendees will look out, Bloomingdale’s; more nosh on chickpea, tuna or goat competition is on the way. On the cheese sandwiches, among other heels of a successful launch of the treats. The organizers also plan to Big Apple’s first off-price host some of their preshow Nordstrom Rack, which opened in events at chef Colicchio’s Craft Union Square three months ago, eateries. word on the street is that Nordstrom is back in the hunt to open a full- price store. Real estate sources say CRUISING WITH CAMERAS Green gadget the Seattle-based department stops energy hogs store has narrowed its options to AMATEUR FILMMAKERS, get your two locations, and one of them cameras ready. Circle Line Cruis- a $40 gadget could save could be the Boston Properties es is hosting a contest for the companies thousands of dollars site on Eighth Avenue and West best three-minute “dockumen- annually on their electric bills. In 55th Street. “They don’t want to tary” created aboard any of its the fourth quarter, Manhattan- be known to New Yorkers as a ships. Videos must be submitted based ThinkEco will introduce discounter,” says one broker. by Oct. 30. Top prize: $1,000. the Modlet. The simple outlet It could be a wise move for the Other prizes include Flip cam- cover, paired with a $10 USB retailer: For the quarter ended July corders and $50 gift cards to stick, monitors energy use and 31, same-store sales at full-priced B&H Photo. Sign up for the con- can be programmed to turn off stores were up over 8% over the test and get two free tickets at flat-screen TVs and other energy same period last year, while Rack www.CircleLine42.com. hogs. “It’s like an automated same-store sales fell 0.9%. A power strip,” says Mei Shibata, Nordstrom spokesman says the ThinkEco’s chief business company is “still looking for the next year. The popular sandwich officer. right opportunity.” chain run by the celebrity chef The Harvard graduate and Three years ago, Nordstrom (below) has won the contract to partner Jun Shimada had been in talks to lease space at provide catering services at the founded the former Drake Hotel at Park 2011 Armory Show, one of the ThinkEco in Avenue and East 56th Street, but most prestigious contemporary 2008 and have a deal never materialized. art exhibits in the world. The raised about $2 contract will add significantly to million. “I used to the restaurant company’s bottom work in Art of serving line. Corporate sandwiches Top caterers such as Liz America. Seeing Neumark’s Great Performances and the waste was tom colicchio’s ’wichcraft will Danny Meyer’s Union Square really frustrating,” cast a spell on hungry art lovers Hospitality Group, as well as Ms. Shibata says. Battery Gardens The Modlet is now in beta restaurant, have in the tests with 14 corporations. Ms. past provided finger Shibata hopes to sell 5,000 units food and other edibles in the fourth quarter and 100,000 for the show, which units in 2011.The key, she says, is attracted more than making people aware of how 60,000 attendees this much they can save. With the year. focus on going green these days, “There’s a timing for the device could be ’wichcraft just a block spot on. from our office that has long been a Contributors: Lisa Fickenscher, Matthew favorite of our staff,” Flamm, Adrianne Pasquarelli

6 | Crain’s New York Business | August 23, 2010 CN013876 8/17/10 10:49 AM Page 1

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increase turnout in some Manhattan, Queens and Brooklyn neighborhoods, for example. GROUND ZERO Holy war heats up THE INSIDER There’s also a battle for the FIRST A MOSQUE, now a church: A holy war over Manhattan seat being vacated by Ground Zero is heating up. But the bluster Eric Schneiderman by Erik Engquist and Jeremy Smerd state Sen. ,an ignores history. attorney general candidate who Conservatives opposed to a proposed should benefit from the higher Islamic center two blocks north of the World turnout in these city races. Trade Center site have seized on the stalled rebuilding of the St. Nicholas Greek Orthodox Wilson: DiNapoli church destroyed on Sept. 11 to argue that Who will vote for Christians are being snubbed, while Muslims are out to FOIL me favored. “We have people who are saying, ‘Why isn’t Thomas DiNapoli state comptroller our church being rebuilt, and why is there ... such attorney general? and his Republican challenger, Harry concern for people of the mosque?’ ” Father Wilson, are squabbling over Mr. Alex Karloutsos, assistant to the archbishop of Wilson’s attempts to get the Greek Orthodox Archdiocese of America, he winner of the information from the comptroller’s newscom office. Mr. Wilson’s spokesman says told FOXNews.com last week. race for the the campaign has filed “dozens” of The simple answer is that the church at 155 Cedar St. sits on Ground Zero, Democratic Freedom of Information Law while the Islamic center, Park51, does not. nomination for requests and has yet to receive “a The backstory: After Sept. 11, then-Gov. George Pataki offered the tiny, attorney general single piece of data.” Mr. Wilson four-story church a chance to move to a larger Ground Zero site. After years of complains that Mr. DiNapoli is negotiations, in 2008, the Port Authority of New York & New Jersey Twill be determined by what the withholding calculations that he offered $20 million, plus $40 million worth of subsurface infrastructure, for huge number of undecided uses to portray a rosy future for the the church to build a new 8,000-square-foot house of worship at 130 Liberty voters do. But Quinnipiac state pension fund. A DiNapoli St. Port Authority officials say the church then asked for more money and pollster Mickey Carroll says spokesman responds, “Mr. Wilson approval power over the vehicle security center being built underground. The didn’t FOIL, didn’t ask, didn’t authority held firm, and the church walked away. many won’t do anything. request, didn’t call me at home, That left the church exactly where it started: with the right to build on its “When people are undecided, a didn’t send an e-mail or a text, and original site without public money. But because that land is also part of the lot of them stay home,” he says. he didn’t Twitter.” Mr. Wilson’s Ground Zero footprint, church officials must wait to build until the Port That’s especially true this camp says it made the requests via Authority completes the vehicle security center in 2013. press conference and press release Republicans including gubernatorial candidate Rick Lazio have used the year, when no other competitive because previous FOIL requests on mosque and the church to stir up passions in an otherwise lukewarm newscom Democratic primaries are on the other subjects yielded no campaign. A Siena poll released last week revealed why: 86% of Republican ballot statewide.“There’s no particular reason to come out in information.The campaign formally voters oppose the Islamic center, as do 53% of Democrats and 62% of requested the data last week. this primary,” Mr. Carroll says.“There’s nothing compelling.” others. Among conservatives, 81% oppose the project and 35% say it will (He notes that he will vote anyway, as he always does.) A station’s hot air have a major effect on how they vote for governor. Statewide turnout will be abysmal, but it will be higher in neighborhoods where local primaries are contested. the state and the city have re- entered negotiations with Vornado rights associated with the new new Siena poll. But Mr. Challenges to Rep. Carolyn Maloney, state Sens. Pedro Espada Realty Trust and The Related over the Moynihan Station, says the new DioGuardi’s greatest support, 45%, Jr. and Shirley Huntley, and Assemblywoman Joan Millman will sale of 1 million square feet of air president of the Moynihan Station comes from people aged 18 to 34, Development Corp., Timothy perhaps because young people are Gilchrist.The developers entered into fans of his daughter, American Idol a memorandum of understanding judge Kara DioGuardi. Only 6% in with the state in 2006 to develop that age group prefer one of his the Farley Post Office into a new opponents. train station and to use the air rights Whoever wins the primary will to build an adjacent mixed-use face a formidable foe in the general development, topped by a 67-story election, and not just because she is tower. But the plan, including $110 the incumbent. Ms. Gillibrand, million from the sale of the air with $7.2 million in her war chest, rights, was never approved by the has more than twice the total of her Public Authorities Control Board. three would-be Republican Now that initial construction opponents combined. About 98% contracts on the $267 million first of their $3.5 million comes from phase of the station were approved personal loans to their campaigns, last week, attention is turning to including $2.5 million from Mr. the sale of the building’s 2.5 million Malpass, a former chief economist square feet of transferable air rights, at Bear Stearns. of which Related and Vornado have dibs on the first 1 million. Calcaterra out suffolk county Democrat Regina Idol worship may Calcaterra dropped her bid for state boost DioGuardi Senate last week after an appellate judge upheld a lower-court ruling joe dioguardi’s lead in polls on that she had not lived in New York the GOP primary for the seat held for the five years required to run. by Sen. Kirsten Gillibrand (right) is Ms. Calcaterra lacked a residence partially attributable to his Italian- in the state from November 2005 American name, to May 2006. She had moved to which is an Pennsylvania, where she advantage in surrendered her New York driver’s statewide license, registered to vote, filed her elections. Mr. taxes and filed for divorce. Both DioGuardi is Ms. Calcaterra and another favored by 25% of Democrat, Greg Fischer, were unable Catholics, bloomberg news to make the ballot. State Sen. topping Bruce Blakeman’s 9% and Kenneth LaValle, who first won the David Malpass’ 5%, according to the seat in 1976, will run unopposed.

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

8 | Crain’s New York Business | August 23, 2010 20100823-NEWS--0009-NAT-CCI-CN_-- 8/19/2010 8:30 PM Page 1

SMALL BUSINESS DOOWAH DOES: Bobby DooWah expanded beyond performing at Solopreneurs find their niches children’s events.

spring.The first book,self-published Cool, a guide to nav- Multitaskers vary revenue streams in 1999, made more than $60,000. igating the work- to cope with the economy, stay sharp “Whatever type of business you place; and Hello have, you can speak about it, write Gorgeous!, a look at tion business in Chelsea, has found about it and make money helping makeup advertis- BY DIANE HESS that she enjoys teaching others to be- others,” advises Ms. Chatman. ing. She also earns

come wedding planners at York Col- Rachel Weingarten, who runs between $10,000 adler arnold obby doowah used to lege and other city universities, earn- Brooklyn-based GTK Marketing and $50,000 per earn more than ing an extra $5,000 per year while Group, manages to gross between year offering advice on personal “I’m kind of obsessive,” says Ms. $100,000 per year as a raising her profile. She is also work- $200,000 and $400,000 a year by branding, and $3,000 to $15,000 per Weingarten. “I never like doing just children’s event gui- ing on part two of “I Do”… Weddings, keeping multiple balls in the air. She speech lecturing on topics such as per- one thing at once.” That gives her tarist,charging $650 for a guide to starting a wedding-con- has sold a combined 40,000 copies of sonal branding and business etiquette the perfect temperament for thriv- Ba one-hour concert. But with a sulting business, to be released next her two books: Career and Corporate at universities and corporations. ing amid economic uncertainty.
drop-off in performances amid the economic downturn, Mr. DooWah—known in his personal life as Jeffrey Richter—has looked to additional sources of income. Mr. DooWah recently began per- forming at “Mommy & Me” classes in family homes; a group pays $200 per class. Six months ago, he self- published a digital book about the children’s music business,The Wealthy Guitarist, which he promotes on Facebook. It has sold more than 100 copies at $39.95. He is working on a children’s book series and shopping a children’s variety television show. “I’m throwing a lot of things out there,” says Mr. DooWah, who also produced a CD in 2002 that has sold more than 1,000 copies. Venture capital-backed firms have long tried to expand their reach (and investors’ returns) by building multi- ple revenue streams;often,this means hiring a substantial-sized team. To- day,thanks to advances in online mar- keting, publishing and education, it has become easier than ever for self- financed,solo business owners to add revenue streams. Diversify, but stay focused “very often, it is a good idea for Life just got better. solo entrepreneurs to diversify in or- der to address economic realities,” says Ed Rogoff, professor of man- agement at Baruch College’s Zick- Provide your employees Aflac lin School of Business. * The key to being successful is to life insurance at no cost to you. stay focused on their core competen- cies and build revenue in areas close- ly tied to their primary strategy, says By providing Aflac life, you’ll take better care of your employees Mr. Rogoff. “The risk is that [diver- with flexible options like whole, term, and juvenile life insurance. sification] becomes a distraction and † takes them too far away from their What’s more, with Aflac’s more affordable price, it all adds up to main ambition,” he says. being able to complement your existing benefits with one of the Well-aware of this hazard, Mr. most well-known and trusted brands. DooWah declined an offer to create a music program for a national chain For more information, visit aflac.com/life or call 1-877-236-2352 of children’s gyms a few months ago. “I’m not an administrator,” says Mr. to learn about all the benefits of Aflac life. DooWah, “and I don’t want to be in charge of a staff.” Nonetheless, Mr. DooWah isn’t alone in finding that, for the most part, it is stimulating—and prof- itable—to vary the type of work he does within his niche. “Solo entrepreneurs are a breed that likes to tackle new and exciting challenges rather than the same old, same old,” says Debra Condren, a Manhattan business psychologist. Coverage underwritten by American Family Life Assurance Company Mayai Chatman, owner of Wed- of Columbus. In New York, coverage underwritten by American Family ding Day Inc., a wedding-consulta- Life Assurance Company of New York.

To sign up for Crain’s * There may be indirect administrative or other costs. SMALL BUSINESS newsletter, go to † More affordable based on Aflac’s premium rates prior to August 2010. www.crainsnewyork.com/smallbiz. © 2010 Aflac Incorporated. MMC10430

August 23, 2010 | Crain’s New York Business | 9 20100823-NEWS--0010-NAT-CCI-CN_-- 8/20/2010 1:58 PM Page 1

VIEWPOINT Pick for AG: Eric Dinallo editor in chief Rance Crain publisher, vp Jill R. Kaplan he field of democrats hoping to succeed skills. Mr. Coffey has picked some up as he campaigns Andrew Cuomo as state attorney general across the state, as evidenced by his recent emphasis on EDITORIAL editor Xana Antunes is highly competitive, if unknown to the voters’ top concern, property taxes. That is an important managing editor Glenn Coleman deputy managing editors Valerie Block, general public. None of the five issue, but not for an attorney general. Erik Ipsen candidates carries the high profile of the Mr. Dinallo, in contrast, has been singularly focused on contributing editor Elizabeth MacBride incumbent or his predecessor, Eliot the office, which—having worked there—he knows far columnists Greg David, Alair Townsend Spitzer. better than his rivals. He has developed a reorganizational politics editor Erik Engquist pulse editor Barbara Benson Mr. Spitzer’s exploits as attorney plan to make it more efficient and productive. At Morgan senior reporters Theresa Agovino, general transformed the office into a major force in the Stanley and Willis Group Holdings, he implemented Aaron Elstein, Lisa Fickenscher, T Matthew Flamm, Miriam Kreinin Souccar business world and beyond, and Mr. Cuomo continued lawsuit-prevention practices that he would bring to state reporters James Comtois, Amanda Fung, Daniel Massey, Adrianne Pasquarelli, (albeit less bombastically) Mr. Spitzer’s pursuit of systemic agencies. He has shown great deftness in finding legal Hilary Potkewitz, Jeremy Smerd change in business practices.Together, they have endowed pathways to attack problems, including a novel way to art director Steven Krupinski deputy art directors Carolyn McClain, the post with great potential to be beneficial or destructive empower the attorney general to investigate a Legislature Daniel Mednick to the economy. New Yorkers must keep it in capable hands. that insists on policing itself. His recent testimony before staff photographer Buck Ennis copy desk chief Wendy Zuckerman Democratic voters will take the first step Sept. 14 by Congress demonstrated a profound understanding of copy editor Thaddeus Rutkowski research editor Denise Southwood selecting a nominee to take on Republican Daniel Donovan, financial services, which he is eminently prepared to assistant research editor Maia Blume the district attorney of Staten Island, who is running police—without the ego and the mean streak that made editorial interns Emily Laermer, David Montalvo, Blaire Porter, Rachel Wexler unopposed and unfortunately has no primary. Mr. Spitzer the industry’s enemy. www.crainsnewyork.com Of the Democratic contenders, two strike us as the Mr. Dinallo’s agenda includes bolstering public integrity, web editor Brian Tracey senior producer Elisabeth Butler Cordova most promising: Eric Dinallo and Sean Coffey. Mr. reforming Albany and protecting investors and producer Kira Bindrim

Dinallo, a former prosecutor, was a top deputy to Mr. consumers—all wise and popular stances. But he faces a EDITORIAL AND ADVERTISING OFFICES Spitzer in the very office he is now seeking, and later difficult road to victory. He lacks the institutional support 711 Third Ave., New York, NY 10017-5806 editorial: 212.210.0277 Fax 212.210.0799 served ably as state insurance superintendent. Mr. Coffey enjoyed by Eric Schneiderman and the political experience advertising: 212.210.0259 is an enormously successful litigator who made his name of Richard Brodsky, two smart and aggressive state Cable craincom nyk legislators whose priorities for the office are not aligned Fax 212.210.0499 going after bad actors in the corporate world, most notably Entire contents ©copyright 2010 Crain in the WorldCom case, and also served with distinction in with the business community. He has raised far less money Communications Inc. All rights reserved. ®CityBusiness is a registered trademark of MCP the U.S. Navy. than Nassau County District Attorney Kathleen Rice, who Inc., used under license agreement. Both men are extraordinarily talented lawyers. That is a leads in the polls despite her unimpressive command of the TO SUBSCRIBE: prerequisite for the job, which entails not only rooting out issues. And he lacks the personal wealth to lend his Call 888.909.9111; fax 313.446.6777. $3.00 a copy, $59.79 one year, $109.79 two years. malfeasance in the boardroom, marketplace and campaign millions of dollars, as Mr. Coffey has done. www.crainsnewyork.com

government, but also defending the state against lawsuits. But his platform is comprehensive, and his qualifications ADVERTISING AND MARKETING Neither Mr. Coffey nor Mr. Dinallo has run for office to be attorney general are unmatched. Democratic voters advertising director Trish Henry real estate sales manager Cornelius P. Gore before, and Mr. Dinallo readily admits to lacking political should make Eric Dinallo their nominee. senior account managers Irene Bar-Am, Courtney McCombs, William E. Squitieri account executive Anthony Mowad sales manager, classified print & online John Gallagher CRAIN’S ONLINE POLL COMMENTS sales coordinator, print & online Lulé Haznedari newsletter product manager IS NEW YORK’S Alexis Sinclair credit Todd J. Masura 313.446.6097 NO-FAULT DIVORCE LAW marketing director Amy Crossman Food fight gets dirty director, audience development A GOOD IDEA? John LaMarca senior audience development manager PARALLEL BETWEEN BIZ INTEGRITY EVEN IN RECESSION, Tarek Cotran Date of poll: Aug. 16 COMMISSION, ORGANIZED CRIME? SOME JOBS MUST BE FILLED 381 votes general manager, interactive i find it ironic that the Business Integrity crain’s article “No shortage of high-tech job Marc Minardo Yes. Having your Commission evokes similar complaints from listings” ( July 26) highlights a too-often- web developer, interactive marriage fail is Chris O’Donnell hard enough the food vendors as did organized crime (“Food ignored aspect of the current recession:

. 88% without having fight,” Aug. 2).To quote from the article: “recession-proof ” jobs. NEW YORK PRODUCTION to perjure “jacking up fees,” “more invasive,” Here’s the test: Can you live without the production and pre-press director yourself to get “overstepping its authority,”“exorbitant fees,” product or service? If the electricity goes out, Michael Corsi out of it. The new “harassing them.” It’s the old joke: Why does most employees won’t care that the phones advertising production manager

Suzanne Fleischman Wies

law finally City Hall try to stamp out organized crime? aren’t ringing, but the lack of computers will acknowledges 12%. that perfectly They don’t like the competition. drive them crazy.That’s why IT is recession- PUBLISHED BY CRAIN COMMUNICATIONS INC. good people can —joseph segreti proof. Continuing-education programs are chairman Keith E. Crain have perfectly Prospect Electric Service Inc. recession-proof; if you want that promotion or president Rance Crain awful marriages. No. This will job, you have to be qualified. secretary Merrilee Crain Mary Kay Crain lead to more But recession-proof service providers, be- treasurer dissolved GIVE MARIO CUOMO CREDIT executive vp, operations William Morrow FOR ‘I LOVE NEW YORK’ ware: No one has to patronize your business. senior vp, group publisher Gloria Scoby unions and group vp, technology, circulation, more The other thing that is recession-proof is the while george pataki took full advantage of consumer’s increased demand for quality. manufacturing Robert C. Adams emotionally vice president/production & scarred the taxpayer-funded “I Love New York” ads —bruce a. hurwitz
manufacturing David Kamis children of (“NY celebrity tourism campaigns,” Aug. 9), President and CEO chief information officer Paul Dalpiaz divorce. Mario Cuomo established the precedent. All Hurwitz Strategic Staffing Ltd. corporate circulation/audience George did, along with Libby, was perfect it. development director Kathy Henry Incidentally, the new spot’s premise is a direct CRAIN’S WELCOMES SUBMISSIONS to its opinion founder G.D. Crain Jr. (1885-1973) chairman Mrs. G.D. Crain Jr. (1911-1996)

istockphoto lift from the original ad that aired in 1978. Alec pages. Send letters to [email protected]. For this week’s questions: Go to Baldwin plays the Frank Sinatra role. Send columns of 475 words or fewer to www.crainsnewyork.com/poll to have your say. —david ganz [email protected]. Please include the writer’s Greater than One Inc. name, company, address and telephone number.

10 | Crain’s New York Business | August 23, 2010 20100823-NEWS--0011-NAT-CCI-CN_-- 8/19/2010 8:30 PM Page 1

OPINION

ly lifetime job guarantees. Compet- itive elections would invigorate the Pushing an uprising democratic process and make legis- lators more accountable. The pledge for responsible budgeting requires the state to for Albany reform adopt generally accepted account- ing principles and to balance the budget using them. Most localities, he label “Empire State” seems increasingly ab- including New York City, use surd. Our state, which once led the nation in so GAAP, and the discipline they im- many ways, now seems captive to a small band of pose limits the practices that have gotten the state into deep financial professional politicians who are determined to stay trouble—shifting obligations into in power and to their special-interest allies who aid the future and borrowing to fund and abet them. current expenses. We have been liv- T ing well beyond our means, and re- It makes me wonder how long it will be before the form is critically needed. combination of high taxes and self-dealing will drive the state About 85% of all incumbent sen- ators and 42% of incumbent Assem- into the ground. It’s the executive and leg- bly members have signed the easy to despair. islative branches. The pledges, as have even more of their When Ed Koch or- commission would challengers. Not surprisingly, As- ganized New York Up- have subpoena power sembly Speaker Sheldon Silver and rising—a political ac- and the right to sanc- Senate Democratic leader John tion committee with the tion offenders. Sampson have not signed.The hope goal of reforming Al- It would require leg- is that at some point these leaders will bany’s ethics, redistrict- islators to reveal who is join their followers, but it won’t hap- ing and budgeting—I paying them and how pen without massive pressure from signed on quickly. much for work such as all of us. The heat on candidates is The Uprising doesn’t legal services. There are growing: the Business Council of endorse candidates. In- ALAIR many ways to buy influ- New York State and gubernatorial stead,it asks incumbents TOWNSEND ence, and buying pro- candidate Andrew Cuomo are also and challengers to sign fessional services is one. seeking reform pledges from them. pledges relating to these It would also prohibit or Go to the New York Uprising three areas of essential reform.Those limit “pay to play” contributions. website to see if your legislators are who sign are heroes.Those who don’t The redistricting pledge calls for on board.If any are among the miss- are being called out as enemies of the creation of an independent, ing, let them feel your wrath. If that progress and reform. And they are. nonpartisan commission to redraw doesn’t work, withhold your vote or Politics in Albany is a sordid electoral districts based on the 2010 vote for their challengers. business.Groups pay for results,and Census. Traditionally, elected offi- And by all means, don’t give the state is the worse for it. The cials draw the lines, in effect choos- money to those recalcitrant ene- ethics pledge calls for a state ethics ing the voters they want. As a result, mies of reform, Mr. Silver and Mr. commission with real teeth covering most incumbents now have virtual- Sampson.

omy. No one is buying it. Suburban Want to STAND OUT workers don’t commute via mass Taxation without transit, so businesses don’t see how from the crowd? they are being helped, instead be- lieving they are subsidizing the city. Promote your coverage with Commuters don’t have much Crain’s Custom Reprints transportation clout. Only a tiny percentage of res- idents in Dutchess or Orange coun- ties use mass transit to get to the city, mid all of the discussion about the enormous and even the larger numbers in near- What are the benefits financial difficulties faced by the Metropolitan by Westchester and Nassau counties of reprints? Transportation Authority, which is looking at a are too small to influence politicians. The upshot: Suburban counties • Offer a unique opportunity to $400 million hole in its operating budget, virtually are uniting to challenge the payroll co-brand your company with a no one is paying attention to what may be the more tax in court,arguing that its approval reputable news source significant threat: the growing revolt in the suburbs against the was unconstitutional because they • Help underscore your PR efforts A didn’t request the tax and, therefore, by including in press kits and new payroll tax levied to plug the gap and, worse, the unmistak- it required a supermajority vote. recruitment pieces able hostility toward the idea that we need the agency at all. Only lawyers would know whether the legal argument has any • Digital reprints boost your Welcome to the law while financing the validity. The lawsuit is a sign that news/press web pages and help of unintended conse- next MTA capital plan. suburban taxpayers, businesses and Reprint Plaque drive traffic to your site quences. The plan The Legislature politicians have decided that the drawn up by noted couldn’t stomach toll in- MTA does not serve their needs. civic-leader-turned-Lt. creases, so it passed a When the MTA needs Albany’s ASK ABOUT OUR REPRINT PRODUCTS: Gov.Richard Ravitch to modified payroll tax and help again, probably next year, the save the MTA,at least as a series of other fees on result could be a standoff that un- HARD COPY REPRINTS • EPRINTS • PLAQUES enacted, didn’t save cars and taxi rides. The dermines the MTA’s very existence. BANNERS/BUTTONS • TRADE SHOW COLLATERAL • POSTCARDS mass transit and instead money it raised, howev- The next Ravitch-type panel will undermined its future. er, funded the MTA’s have to recognize that taxes and fees Contact Lauren Melesio at 212.210.0707 or The original plan capital program for only must be based on the benefits the [email protected] for information on how to turn called for tolling the GREG two years and didn’t MTA offers. Tolling the bridges will East River Bridges and DAVID fundamentally shore up have to be linked to the subway fare, your Crain’s press coverage into great marketing. enacting a payroll tax to its operating budget. and the only way the suburbs will con- be paid by all employers The payroll tax was tribute is through a commuter tax on (including nonprofits and govern- the biggest miscalculation.Mr.Rav- those who need the MTA the most. ments) in the MTA’s 12-county re- itch argued that everyone should Both ideas are difficult political- gion. If adopted as proposed, it pay because the MTA was the glue ly,but the suburban revolt shows that would have reduced fare increases that held together the region’s econ- they may be the only alternatives.

August 23, 2010 | Crain’s New York Business | 11 20100823-NEWS--0012-NAT-CCI-CN_-- 8/19/2010 8:29 PM Page 1

REAL ESTATE DEALS

signed a lease for space at 275 Church St., between White and Franklin Avon calls yet again on Third Avenue streets, for what will be its third Manhattan location. The restaurant, which has oper- Jon Zuckerman and Leonard ing for Sage Realty, and a five-per- “The key was to be conveniently ated an East Village outpost for sev- Beauty products DiMicelli of CB Richard Ellis, son team from Jones Lang LaSalle located near all the large brokerage eral years and leased space in giant orders more along with Dale Schlather of Cush- led by Peter Riguardi. firms, as well as landlords,” says Chelsea six months ago, signed a man & Wakefield, represented —amanda fung Stephen Berliner of Studley, who 10-year lease for about 1,900 square space in midtown Avon in this transaction. with colleague Gary Kerper repre- feet on the ground floor, plus the Meanwhile, a number of finan- sented the tenant. “New York is one same amount of space in the base- osmetics giant Avon cial companies appear to be follow- CoStar finds much of the largest markets for the firm,and ment. Products Inc. is taking ing the beauty company to the Class to choose from they wanted to make a statement.” The asking rent was $77 a square over another floor, or A office tower, which is co-owned The search for a new office began foot.The deal closed at $74 a square 10% more space, at its costar group inc.,a giant provider more than a year ago, and at first, foot. While rents fell about 20% in U.S. headquarters at of data on commercial real estate, is CoStar sought raw space that it could the neighborhood during the reces- C777 Third Ave., which is also becom- moving into new quarters in mid- build out.The tenant switched gears sion, brokers say they’ve started to ing home to an increasing number town Manhattan, doubling the size in its search due to the sheer num- climb back up by at least 5% this of investment firms. of its current location. ber of choices, Mr. Berliner says. year. The beauty products company The Bethesda, Md.-based com- The prebuilt space the tenant select- Luzzo’s is expected to open with- has exercised its option to lease pany has signed a long-term lease ed has great views. Publicly traded in three months in the space, which 25,000 square feet of additional for 12,000 square feet at 1177 Sixth CoStar plans to slightly modify the formerly housed a restaurant and al- space at the midtown Manhattan Ave., between West 45th and West space by building a new boardroom, ready is equipped with a full kitchen tower, between East 48th and East 46th streets.The asking rents in the where its chief executive can meet and vent. 49th streets, according to building upper floors of the building are $75 with Wall Street analysts. “They “There’s nearby residences, and FILLING UP: Avon expands at 777 Third Ave. co-owner The William Kaufman to $85 per square foot. want to make a nice impression,” the Tribeca Grand is across the Organization and its management “We are confident that this new Mr. Berliner adds. street, so there were a lot of reasons and leasing arm, Sage Realty Corp. by Travelers Cos.With the Avon ex- location will provide us with a Landlord Silverstein Properties to swoop in and take a very nice spot The expansion comes just eight pansion, the landlords have leased strong foundation for the continued was represented in-house by Roger at a rent that’s workable for a restau- months after Avon signed a 15-year 317,000 square feet at the building growth of our service platform for Silverstein and Jeremy Moss. rateur,” says Steve Rappaport, the lease for 246,500 square feet at the so far this year. New York’s commercial real estate —amanda fung Sinvin Realty broker who repre- building. Avon will now occupy “In addition to welcoming our ex- professionals,” says Stephen Al- sented Luzzo’s. floors two to 12 in the 38-story prop- isting tenant Avon to yet another liegro, regional vice president at Landlord Silkaly M. Wolchok erty.The asking and taking rents for floor,we’re delighted to welcome five CoStar,which plans to move into its Pizzeria takes LP was represented by James Wol- that specific transaction were not new tenants,” says Charles McClaf- new office by October. slice of TriBeCa chok of Wolchok Commercial Real disclosed, but asking rents at 777 ferty, Sage Realty’s chief executive. CoStar currently occupies rough- Estate Services and Robert Wol- Third Ave. range from the mid- The landlord was represented by ly 5,000 square feet at the Graybar a new brick oven will soon be fired chok of Robert L. Wolchok Inc. $50s to low $60s per square foot. Michael Lenchner, director of leas- Building, at 420 Lexington Ave. up in TriBeCa. Pizzeria Luzzo’s has —adrianne pasquarelli

12 | Crain’s New York Business | August 23, 2010 20100823-NEWS--0013-NAT-CCI-CN_-- 8/19/2010 5:36 PM Page 1

HEALTH CARE INSIDE Largest benefits consultants in the NY area PAGE 16 “It’s not a natural thing for all these institutions to work together” —Louis Harrison, director, Beth Israel’s cancer center, Page 14

Med mal cases get expert hearings Bronx system uses judges, not juries, streamlines costly process

BY GALE SCOTT

the 6-year-old girl was feverish and weak, and had a rash all over her body.Alarmed, her mother quickly took her to city-run North Central Bronx Hospital. There, an emergency room nurse assured the woman it was probably a virus, nothing serious, and sent her home. The next day, the child was HARD TO BREAK EVEN: admitted to a Maimonides CEO Pam private hospi- Brier says that for the breast cancer services the tal, where doc- hospital provides, 5% tors diagnosed PROPORTION of “Medicare reimbursement HHC’s Bronx a raging bacter- is pretty low.” malpractice ial blood infec- cases now tion. To save settled via trial the child, they amputated a leg, the toes on the other foot, and the fingers on one hand. The misdiagnosis was clear- ly the city-run hospital’s fault, says Bronx Superior Court Judge Douglas McKeon, who got involved in the 2005 mishap when the family noti- fied the city several months lat- Soaring cancer-care er that it was suing for medical malpractice. Odyssey avoided costs strain budgets normally, that notice could have been the start of a long and costly legal odyssey ending in a jury trial. Instead, under an ex- Hospitals pour millions into new devices, talent as margins thin perimental system in the Bronx, the case was sent for of-the-art cancer treatment centers, even as questions rise over the pay- “judge-directed negotiation” BY JUDITH MESSINA off for some of those investments. All told, the city’s major hospitals have and was eventually settled. spent more than $2 billion on cancer research and treatment over the past Under the program pio- or a consortium of six of New York City’s leading hospi- five years, in a race to carve out a bigger piece of a fast-growing pie. The neered by Judge McKeon and tals that is preparing to splash out tens of millions of dollars race has prompted some cautionary notes even within the hospitals them- the New York City Health and for the latest and greatest cancer killer— a massive machine selves. Hospitals Corp. in 1995, and that zaps tumors with finely focused proton beams—the log- “Technology is always changing, so we have to be careful about get- formalized a dozen years later, ic is clear. ting sucked into it,” says Dr. Carroll. all medical malpractice cases F“For patients for whom proton therapy is better, we have a mandate to To date,investing in cancer care has been a good bet.Cancer incidence are heard by a set of judges with provide that therapy,”says Dr.William Carroll, director of the New York has increased dramatically since 1975, and though it has leveled off re- acknowledged expertise in both University Cancer Institute. cently, it is expected to rise an estimated 45% over the next 20 years and medicine and negotiating And that’s far from all. to nearly double by 2050.Experts point out that cancer risks increase with skills. The goal is to guide par- Individually, the six institutions, as well as other, smaller hospitals age and,with 76 million baby boomers entering their 60s and medical ad- ties to a settlement, thus avoid- around the city,are spending tens of millions on their own in-house,state- See SOARING on Page 14

See MALPRACTICE on Page 14 buck ennis

August 23, 2010 | Crain’s New York Business | 13 20100823-NEWS--0014-NAT-CCI-CN_-- 8/19/2010 5:36 PM Page 1

REPORT HEALTH CARE

hospitals also agree to own up to mistakes quickly and apologize. Malpractice cases “In my opinion, it’s what we owe to patients,”says Mr.Aviles. “If you are very transparent and Continued from Page 13 year ending June 30,from $196 mil- skilled in communication, you ing trial. Though plaintiffs can still lion in fiscal 2003. The new ap- lower the sense of rage … and select a jury trial, only 5% of HHC’s proach also cut the case backlog by a make settling cases easier.” Bronx cases are now settled via trial, third over the period to 1,000 cases Even many trial lawyers— as are about 15% in the other bor- as of the end of the last fiscal year. who have long resisted tort re- oughs, he says. Meanwhile, the average time it forms such as caps on judg- In the girl’s case,after five intense takes to resolve a case fell by 17% in ments—like the new Bronx- sessions in the judge’s chambers, the past three years alone, to a little born system. both sides agreed in 2008 to settle more than three years. “The city can be very diffi- the case for $6.8 million, signifi- cult to get money out of,” says cantly less than the girl might have New practices Mr. Steigman, of Gair Gair JURY OUT: Under a gotten at trial, but enough to make in another facet of the plan, Conason in Manhattan. “This program pioneered by her future secure. It also let her HHC has also relied on a claims gives plaintiffs certainty.” Judge Douglas McKeon lawyer, Ernest Steigman, devise a management consultant to evaluate Another Manhattan medical and the Health and structured settlement that guaran- cases immediately,making sure that malpractice lawyer is even Hospitals Corp., teed lifelong payments, including apparent mishaps are investigated blunter about the current system. malpractice cases are money for college, something he aggressively. Instead of its old prac- “Under the current system, heard by a set of judges. says could not have happened with a tice of delaying cases, HHC now you can end up with any buck ennis jury verdict. fully discloses errors to those it Supreme Court justice,” says “Everyone went away happy,” harmed. It also analyzes medical Barry Washor of law firm Queller clearly the exception. Long fasci- a curriculum for his peers. In “Med- says Judge McKeon. mistakes with the goal of changing Fisher Washor Fuchs & Kool. nated by the field, he says that years icine for Judges,” a course to be of- Inspired by such successes, last medical practice to prevent them “Some of them don’t have a clue. ago he started auditing early-morn- fered in October, some 100 justices month the federal government gave from happening again. They don’t understand the case, and ing anatomy classes at the Albert will learn about medicine and “hu- the New York State Department of For instance, all HHC obstetri- they don’t understand the law.” Einstein College of Medicine near manness,” Mr. McKeon’s term for Health and the state court system a cians now go through training with On the downside for lawyers, his Bronx courthouse. He still reads becoming a compassionate, sympa- $3 million, three-year grant to ex- computerized mannequins. The Mr. Washor estimates that a $2.5 medical journals to keep up on new thetic listener. pand the mediation program from sessions teach them to prevent a million jury verdict will typically techniques and technology. The course will be similar to the HHC’s 11 acute care hospitals to five costly childbirth injury that hap- translate to a $1.5 million early set- path Judge McKeon took himself. private hospitals in New York as well. pens when a baby’s shoulder gets tlement. But time is money,too, one Educating judges “I’ve always felt I needed basic Evidence of the program’s effec- stuck in the birth canal, says HHC reason he says the HHC program since having medically sophisti- knowledge of the medical lingo to tiveness is overwhelming. HHC’s President Alan Aviles. looks promising. cated justices is crucial to the exper- effectively preside over a trial. It’s medical malpractice costs tumbled As part of the full-disclosure pol- When it comes to judges’knowl- iment, Judge McKeon is using part become a hobby of mine, to try to by 34% to $130 million in the fiscal icy, also known as Sorry Works, the edge of medicine, Judge McKeon is of the federal grant money to design stay current,” he says.

spending $542 million. MSK fol- Steven Burakoff was lured from lowed up this year by cutting the rib- NYU two years ago.He has hired 20 Soaring cancer-care costs strain bon on a $100 million imaging facil- cancer specialists and has plans to ity. bring on 30 more in the next two to New York-Presbyterian, mean- three years. Continued from Page 13 Nonetheless, New York’s hospi- in 2009. Meanwhile, just six years while, has spent an estimated half- The payoffs from such outlays can vances keeping people alive well tals are plowing ahead, driven by after it opened,NYU’s Cancer Insti- billion dollars since 2005 to expand take years to show up. It’s estimated into their 80s,demand is expected to competition and soaring demand. tute had a total of 111,800 patient its cancer program.Still in the works that the proposed proton therapy skyrocket. Brooklyn’s Maimonides Medical visits last year. are new infusion, radiation and re- center, which to date has proven su- By 2025, 3.2 million New York- Center expects to record 50,000 Hospitals are investing vast for- search facilities. perior in treating only a limited num- ers will be over age 65, a 40% in- cancer patient visits this year, up tunes to stay on top of that wave. ber of cancers, could take as many as crease over today’s 2.3 million, ac- 66% in just two years.At New York- Longtime market leader Memorial Looking for funds seven years to break even. Similarly, cording to U.S. Census projections. Presbyterian Hospital, adult radia- Sloan-Kettering Cancer Center nyu,too,has spent freely,sinking an Maimonides expects this year—sev- Cancer is already the top killer of tion treatments alone in the past two christened the first phase of a state- estimated $200 million into its can- en years after its groundbreaking— Americans under the age of 85. years jumped nearly 12% to 33,282 of-the-art research center in 2006, cer program in recent years. And at to break even on its cancer center, “From a hospital perspective, the Mount Sinai Medical Center, a $40 even as mammography and breast future is Alzheimer’s disease and million gift from the Tisch family surgery continue to be money losers. cancer,”says Howard Berliner,chair has been used to establish the Tisch “We are 80% Medicare and of health policy and management at POOLING RESOURCES Cancer Institute.Now the hospital is Medicaid, and for some of the serv- SUNY Downstate Medical Center EXCEPT FOR COLLABORATIONS among researchers doing related work, there seeking to raise another $120 mil- ices we provide, particularly related in Brooklyn. “It would be wrong if has long been little clinical cooperation among the city’s cancer centers—until lion and snare a National Cancer In- to breast cancer, Medicare reim- they weren’t making substantial in- now. stitute imprimatur,a prize that could bursement is pretty low,” says Mai- vestments in those areas for the fu- The staggering price of providing cutting-edge treatment is driving one bring millions more in government monides CEO Pam Brier.“It’s chal- ture.” major collaboration. Memorial Sloan-Kettering Cancer Center, Mount Sinai research money. lenging to make money.” Medical Center, New York-Presbyterian Hospital, Beth Israel Medical Center, And it’s not just the city’s celebrat- Adding to the pressure on profits, Lower profits NYU Langone Medical Center and Montefiore Medical Center have joined with ed Manhattan academic centers that costs are rising as new drugs and treating cancer has long been a commercial radiation provider, 21st Century Oncology, to build a $227 are going after cancer patients. Mai- technology enter the anti-cancer ar- more lucrative than other special- million proton therapy center. monides’ five-year-old, $42 million senal and as government adds its ized care for hospitals. But with 21st Century will manage the operation. Clinical decisions will be cancer center is already out of space, own costs. In 2013, for example, the costs of everything from top oncol- made jointly by the six New York institutions, which will contribute 15% to and the hospital is looking to expand. new health care reform legislation ogists to radiation technology esca- 20% of the total cost, should their plan pass muster with state authorities, HHC’s Elmhurst Hospital last year will exact a 2.3% excise tax on med- lating, the profit margins for cancer who are mulling two other proposals as well. opened an $11.6 cancer pavilion that ical devices, a tax that is expected to care are narrowing. Just reaching the initial agreement to form the consortium took months. now has nearly 3,000 patients a be passed on to providers.Also,pres- Adding to the financial agita is “It’s not a natural thing for all these institutions to work together on a month, up 7% since the opening. sure to slow down medical inflation health care reform, with its atten- project, agree on a business plan, a project plan and a critical operations All of these institutions also are and improve outcomes by standard- dant pressures on reimbursement plan, and function in a common research paradigm,” says Louis Harrison, spending more to poach star clini- izing care could put a crimp in inno- rates and its emphasis on standard- director of Beth Israel’s cancer center. cians and researchers from competi- vative efforts to conquer cancer,such ized care—even as cancer is increas- tors, sometimes at million-dollar- as creating customized therapies to More thorny decisions remain, such as determining the specific cancers ingly understood to be dozens,if not plus salaries—not counting the cost attack each patient’s unique disease. for which the facility will be used. Experts generally agree that certain hundreds, of different diseases. of the teams they bring with them. “Hospitals are caught in a vise,” “There will be cuts [as a result of childhood tumors and other rare malignancies can be treated with proton In the past 16 months, Montefiore- says Jon Skinner, a professor of eco- health care reform], and oncology beam therapy, but there is controversy over which other cancers could be Einstein cancer center Director Dr. nomics at Dartmouth College. will not be immune,” says Michael treated more effectively with the technology. Steven Libutti, who himself was re- “They are competing for share in a Blau, a partner with law firm Foley “It may be a new way of working together, where you have enormously cruited from NCI,has brought in 12 very,very difficult market, but at the & Lardner and chair of its health expensive machinery and not a huge demand for it and an ability to share new oncologists, including a four- same time they are worried that re- ventures practice.“It will take its fair costs,” says MSK Senior Vice President John Gunn. person research team from MSK. forms will come along that will un- share.” Tisch Cancer Institute Director Dr. dermine their expansion plans.”

14 | Crain’s New York Business | August 23, 2010 Project6:fp template.qxd 8/12/10 2:05 PM Page 1

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16 | Crain’s New York Business | August 23, 2010 20100823-NEWS--0017-NAT-CCI-CN_-- 8/20/2010 7:55 PM Page 1

FOR THE RECORD

05 Horace Harding Expressway, BWT owned by Monday Properties. The Carl C. Icahn, beneficial owner, conference room 4. For further company will move to the entire 26th exercised options on 6,075,490 shares of ABOUT THIS SECTION information, contact Greg Hall at floor. David Stockel and Peter Van common stock at $11.70 on Aug. 10, in FOR THE RECORD is a weekly listing of information from the public record that (718) 595-3236 or [email protected]. Duyne of Cushman & Wakefield a transaction worth $71,083,232. can help businesspeople in the New York area find opportunities, potential represented the tenant in the G Housing Authority transaction, while Paul Amrich of CB G Morgan Stanley (MS) new clients and updates on competitors. Requests competitive sealed bids by Richard Ellis and Jordan Berger of China Investment Corp. sold 1,600,000 To ask questions or get more information on this section, contact Denise 10:30 a.m. on Aug. 25 for the furnishing Monday Properties represented the shares of common stock at $27.42 on Southwood at [email protected]. of electrical fixtures. For additional owner. The asking rent was in the mid- Aug. 9, in a transaction worth information, contact Atul Shah at $60s per square foot. $43,872,000. It now indirectly holds (718) 707-5450. 150,782,000 shares. G Adorn Fashions Inc. signed a seven- G New York City Fire Department year renewal and expansion for 8,000 G Cognizant Technology Solutions Corp. BANKRUPTCIES GOVERNMENT CONTRACT Seeks competitive sealed bids by 4 p.m. square feet at 1407 Broadway,a 1 (CTSH) OPPORTUNITIES on Sept. 9 for steward and catering million-square-foot office tower owned Rajeev Mehta, chief operating officer The following listings are selected from services. For more information, contact by The Lightstone Group. The company of global client services, exercised the most recent available filings by Following are selected contract Kristina LeGrand at (718) 999-1234 or will occupy part of the 18th floor. Marc options on 122,500 shares of common opportunities recently announced by New companies seeking bankruptcy protection [email protected]. Schoen of Savitt Partners represented stock at prices ranging from $11.44 to in the Southern and Eastern Districts of York City agencies.To learn how to sell goods and services to city government, visit the tenant in the transaction, while $21.75 on Aug. 10, in a transaction New York. Information was obtained www.nyc.gov/selltonyc. For a searchable REAL ESTATE DEALS Robert Forman of Gettinger worth $1,633,375. Between Aug. 3 from U.S. Bankruptcy Court records database of current procurement notices, Management acted on behalf of the and Aug. 10, he sold 148,373 shares available on Public Access to Court visit www.nyc.gov/cityrecord. Listings are Companies that would like to have landlord. The asking rent was $40 per at prices ranging from $61.00 to Electronic Records. Listings are in alphabetical by category and department. details of their recent transactions appear square foot. $61.75, in a transaction worth alphabetical order. in these listings should e-mail $9,065,948. He now directly holds 6,147 GOODS AND SERVICES descriptions following this format to G Downtown Dance Factory has signed shares. G 556 Holding G Department of Citywide Administrative [email protected], with a 10-year lease for 6,300 square feet at 556 W. 22nd St. Services “Real estate transaction” in the subject 291 Broadway, a 19-story, 120,434- G Sirius XM Radio Inc. (SIRI) Filed for Chapter 11 bankruptcy Seeks competitive sealed bids by 10:30 line, or enter them online at square-foot building managed by Scott Andrew Greenstein, president and protection on Aug. 6. The filing cites a.m. on Sept. 9 for Trecan Combustion crainsnewyork.com/submitadeal. Deals are Glenmark Realty.The tenant will chief content officer, exercised options estimated liabilities of $10,000,001 to parts. For more information, contact listed in order of square footage. occupy part of the fifth floor. David on 6,942,030 shares of common stock at $50 million and estimated assets of Anna Wong at (212) 669-8610 or Gomez of Glenmark represented both $0.43 on Aug. 9, in a transaction worth $10,000,001 to $50 million. Among [email protected]. COMMERCIAL the tenant and the landlord in the $2,985,073. Between Aug. 9 and Aug. creditors with the largest unsecured G Allianz Global Investors signed a 20- transaction. The asking rent was $35 per 10, he sold 6,942,030 shares at prices claims are New York City Department G Department of Environmental Protection year lease for 213,000 square feet at square foot. ranging from $1.01 to $1.04, in a of Finance, owed $172,962.42; and Lutz Seeks competitive sealed bids by 11:30 1633 Broadway, a 48-story, 2.44 million- transaction worth $7,113,280. He now and Carr CPAs, owed $500. a.m. on Aug. 31 for service and repair of square-foot office tower owned by directly holds 1,463,740 shares. electronic security equipment in various Paramount Group Inc. The company STOCK TRANSACTIONS G Gracious Home locations in upstate New York. For more will occupy floors 42 through 45. G PepsiCo Inc. (PEP) Filed for Chapter 11 bankruptcy information, contact Greg Hall at Michael Monahan and Mark Ravesloot Following are recent insider transactions at John C. Compton, chief executive of protection on Aug. 13. The filing cites (718) 595-3236 or [email protected]. of CB Richard Ellis represented the New York’s largest publicly held companies PepsiCo Americas Foods, exercised estimated liabilities of $50,001 to tenant, while Arthur Boochi represented filed with the Securities and Exchange options on 82,185 shares of common $100,000 and estimated assets of $0 G Department of Environmental Protection the landlord in-house. The asking rent Commission by executives and major stock at $43.50 on Aug. 9, in a to $50,000. Among the creditors Seeks competitive sealed bids by 11:30 was not available. shareholders. Listings are in order of transaction worth $3,575,048. On the with the largest unsecured claims are a.m. on Sept. 8 for transportation and transaction value.The information was same day, he sold 82,185 shares at True Value Co., owed $722,102; and disposal services for biosolids G Desmarais signed a 10-year lease for obtained from Thomson Reuters. $66.41, in a transaction worth Lincoln Metrocenter Partners, owed throughout the city. A prebid conference 22,408 square feet at 230 Park Ave., a 34- $5,457,816. He now directly holds $270,161. is scheduled for Sept. 1 at 10 a.m. at 96- story, 1.4 million-square-foot building G Hain Celestial Group Inc. (HAIN) 225,600 shares.

about the financial services industry,” Some Democrats, like Geraldine ply wait for opportunities. She was Ms. Taylor says. “She’s exactly the Ferraro, have said that Ms. Saujani’s twice denied by Yale Law School be- Insurgent’s long shot kind of person we need in Washing- refusal to wait her turn will kill her po- fore getting accepted as a transfer stu- ton.” litical career before it gets off the dent. Becoming a member of Con- Over the course of Ms. Saujani’s ground. Others have quietly voiced gress has also been a lifelong dream. Continued from Page 3 the district, which runs along the campaign, she has gradually refined their disdain. If she loses,she says,she will begin her pelling political biography that has east side of Manhattan and includes her talking points on Wall Street by “She sees Congress as an entry- campaign for 2012. impressed wealthy Upper East Side parts of western Queens. more explicitly linking the fortunes of level job,”says one exasperated Dem- “We run the next day in the same donors, financial services executives While targeted, that strategy may everyday New Yorkers to the indus- ocratic consultant. race,” she says. “We start the next and Internet entrepreneurs.She first not be enough. try’s health. But Ms.Saujani is not one to sim- day.”
demonstrated her fundraising skills “Even three or four districtwide at age 28,when she raised $1 million mailings is not enough to bring her Wall Street dependence from South Asians on behalf of John name recognition or familiarity to “one of the things we’ve learned is Kerry’s run for the presidency—an voters to the same level as a 15- or 20- that we have to diversify our econo- NYC forecast cloudy accomplishment that gave her access year incumbent,” says pollster Steven my,” she says. “But until we do, our to Hillary Clinton, whom she sup- Greenberg. firefighters, our teachers and their ported in 2008.Ms.Clinton later of- Like Harold Ford Jr., the former pension funds are dependent on the Continued from Page 2 of New York’s recovery will depend fered her a job in the State Depart- congressman who briefly explored a taxes we collect from the financial “Generally speaking, New York on what factors might drag down ment as a senior adviser on South Senate run, Ms. Saujani has em- services industry.” is pretty consistent with what goes the national economy. If it’s a sector Asia, which Ms. Saujani turned braced her Wall Street experience, In the weeks leading up to the on nationally,” says Marisa Di Na- such as manufacturing, which is not down in order to run for office. even as her opponent has portrayed Sept.14 primary,Ms.Saujani will de- tale, a director at Moody’s Econo- that important to the city economy her as a creature of a greedy industry. bate Ms.Maloney on the radio,giving my.com.“If the U.S.were to fall back because most of those jobs have long Chewing up cash Ms. Saujani, who worked as general the public a one-time opportunity to into recession, it would be difficult disappeared, then New York might according to its latest federal fil- counsel at buyout and hedge-fund make a side-by-side comparison. for New York not to fall back into re- be able to avoid a slowdown. But if ings on June 30, the Saujani cam- firm Fortress Investment Group, ex- Ms. Maloney plans to run on her cession, too.” the national slowdown emanates paign had burned through most of plains that she pursued high-paying experience. from Wall Street, New York could its $1.2 million and had only jobs in order to pay off graduate “Look at my record and what I’ve Sink or swim be in trouble. $428,363 in cash on hand. The fig- school debt. She says a third of her done,” says Ms. Maloney. “As my fa- but it might be possible for the “If the stock market tanks or the ure,while impressive for a first-time funding comes from people affiliated ther used to say, ‘Before she tells you city to continue its relatively strong European debt crisis intensifies,ob- candidate,is nonetheless dwarfed by with Wall Street, but an analysis by what she’ll do, ask her what she’s course. Crain’s columnist Greg viously that’s going to impact New Ms. Maloney’s $2.1 million in cash. Salon put the figure from her second- done.’ ” David wrote in a blog post last week York more than other places with Ms. Saujani hopes to capitalize quarter fundraising at closer to 50%. Observers warn against dismiss- that New York was “barely touched” less of a financial focus,”Ms.Di Na- on expected low voter turnout. Of One of her biggest supporters is ing the skills of the seasoned incum- by the 1982 recession that devastat- tale says. about 228,000 registered Demo- Diana Taylor: a lifelong Republican, bent. “I don’t think Carolyn is a ed the nation. The country lost 3% For now,though,the strengths of crats in District 14—68% of whom former New York state superinten- world-class intellectual, but I think a of its jobs, as high interest rates led the city—a relatively stable local are white—37,529 voted four years dent of banks, and the girlfriend of lot of people underestimate her,” says to a soaring dollar that forced man- budget situation, a high concentra- ago. Parsing those numbers, the Mayor Michael Bloomberg. Ms. Howard Graubard,a political blogger ufacturers that depended on exports tion of jobs in the thriving health Saujani campaign has focused on Taylor is part of a coterie of high- and former chief of staff to Ms. Mal- to conduct massive layoffs.The city, care sector, and a tourism industry minority and young voters. It’s used powered women who are advising oney when she was on the City Coun- however, lost only 1% of its jobs, that is projected to draw 47.5 mil- mailings, rather than expensive tel- Ms. Saujani and encouraged her to cil.“You could go after her with a cat- buoyed by growth in its financial in- lion visitors this year—have helped evision ads, to introduce the young run on her corporate experience. tle prod and she won’t move from her dustry. keep its economy chugging even as Indian-American to constituents in “I think she’s very knowledgeable talking points.” Ms. Di Natale says the strength the nation’s stammers.

August 23, 2010 | Crain’s New York Business | 17 nb34p18-19cl.qxp 8/20/10 12:00 PM Page 18

REAL ESTATE PUBLIC & LEGAL NOTICES Name of For. LP: AB PERRY VALUE Notice of Formation of JAZTB LLC. Notice of Qualification of DWUWS Notice of Qualification of NCM SRLP PARTNERS (INTERMEDIATE) L.P. Arts. of Org. filed with Secy. of State LLC. Authority filed with Secy. of 2010-1, LLC. Authority filed with RETAIL SPACE Appl. for Auth. filed with Sec. of State of NY (SSNY) on 08/04/10. Office State of NY (SSNY) on 07/28/10. Secy. of State of NY (SSNY) on of NY: 6/22/2010. Jurisd. and date of location: NY County. SSNY designat- Office location: NY County. LLC 07/14/10. Office location: NY County. West Village 7th Ave/Perry org.: DE 6/8/2010. Princ. bus. loc.: ed as agent of LLC upon whom formed in Delaware (DE) on LLC formed in Delaware (DE) on 575 sqft 40ft glass storefront 1345 Ave. of the Americas, NY, NY process against it may be served. 07/19/10. Princ. office of LLC: c/o 04/27/10. Princ. office of LLC: 9 W. 10105. NY State off. loc.: NY Cty. SSNY shall mail process to Janover, LLC, 805 Third Ave. - 10th 57th St., 15th Fl., NY, NY 10019. Prime retail space-no fee Sec. of State designated as agent Corporation Service Co., 80 State St., Fl., NY, NY 10022. SSNY designated SSNY designated as agent of LLC 160 per sf - 212-255-2600 upon whom process against it may Albany, NY 12207, regd. agent upon as agent of LLC upon whom process upon whom process against it may be served. Sec. of State shall mail whom and at which process may be against it may be served. SSNY shall be served. SSNY shall mail process copy of process to: c/o AB Perry served. Purpose: Any lawful activity. mail process to the LLC at the addr. to c/o Corporation Service Co. Value Partners GP LLC, 1345 Ave. of of its princ. office. DE addr. of LLC: (CSC), 80 State St., Albany, NY the Americas, NY, NY 10105. Addr. Notice of Formation of Mesh LLC, Art. c/o Corporation Service Co., 2711 12207-2543. DE addr. of LLC: c/o of LP in DE is: Corporation Service of Org. filed Sec’y of State (SSNY) Centerville Rd., Ste. 400, Wilmington, CSC, 2711 Centerville Rd., Ste. 400, TELECOMMUNICATIONS Company, 2711 Centerville Rd., Ste. 5/24/10. Office location: NY County. DE 19808. Arts. of Org. filed with Wilmington, DE 19808. Arts. of Org. 400, Wilmington, DE 19808. Name/ SSNY designated as agent of LLC Secy. of State - DE, Div. of Corps., filed with The Secy. of State of DE, addr. of GP avail. from Sec. of State. upon whom process against it may be John G. Townsend Bldg., 401 Dept. of State, Div. of Corps., 410 Authorized office in DE where Cert. served. SSNY shall mail copy of pro- Federal St., Dover, DE 19901. Federal St., Dover, DE 19901. of LP is filed: DE Secy. of State, cess to c/o Salans LLP, Attn: Robert K. Purpose: Any lawful activity. Purpose: Any lawful activity. Townsend Bldg., Dover, DE 19901. Smits, Esq., 620 Fifth Ave., NY, NY Purpose: any lawful activity. 10020. Purpose: any lawful activities. NOTICE OF FORMATION OF Brook Notice of Formation of IND. REV. LLC. Farm Group LLC. Article of Art. of Org. filed with Secy. of State Notice of formation of Digital Notice of Formation of 232 EAST Organization filed with the Secretary of NY (SSNY) on 03/12/10. Office Management Services Consultancy, BROADWAY LLC. Arts. of Org. filed of State of NY (SSNY) on 5/11/2010. location: NY Co. SSNY designated LLC Arts. of Org. filed with the Sect’y with Secy. of State of N.Y. (SSNY) on Office location NEW YORK County. as agent of LLC upon whom process of State of NY (SSNY) on 7/13/10. Office location: New York SSNY has been designated as agent against it may be served. SSNY shall 12/17/2009. Office location, County County. SSNY designated as agent upon whom process against it may be mail process to the LLC, c/o ICER of New York. SSNY has been desig- of LLC upon whom process against served. The Post Office address to Brands, LLC, 1385 Broadway - 16th nated as agent of the LLC upon it may be served. SSNY shall mail which the SSNY shall mail a copy of Fl., New York, NY 10018. Purpose: whom process against it may be process to: c/o Ira Meister, Matthew any process against the LLC served any lawful act or activity. served. SSNY shall mail process to: Adam Properties, Inc., 127 East 59th upon him/her is C/O the LLC 161 Bertine, Hufnagel Headley Zeltner Street, New York, NY 10022. Chrystie Street. New York, NY 10002. 1559 LEXINGTON AVENUE REALTY, Drummond & Dohn LLP, 700 Post Purpose: any lawful activity. Purpose of LLC: to engage in any LLC a domestic Limited Liability Road Suite 237, Scarsdale, NY lawful act or activity. Street address Company (LLC), filed with the Sec of 10583. Purpose: Any lawful act. ALEXANDER AND IRINA LLC a of Principal Business location is: 161 State of NY on 6/17/10. NY Office domestic Limited Liability Company Chrystie Street. New York, NY 10002. location: New York County. SSNY is Notice of Formation of G&S SOLAR (LLC), filed with the Sec of State of designated as agent upon whom INSTALLERS LLC. Arts. of Org. filed NY on 6/10/10. NY Office location: Notice of Formation of ICER of 322 W. process against the LLC may be with Secy. of State of NY (SSNY) on New York County. SSNY is designated 138th Street, LLC. Art. of Org. filed served. SSNY shall mail a copy of 01/15/10. Office location: NY as agent upon whom process against with Secy. of State of NY (SSNY) on any process against the LLC served County. Princ. office of LLC: 211 E. the LLC may be served. SSNY shall 05/26/10. Office location: NY Co. upon him/her to The LLC, 351 E. 43rd St., NY, NY 10017. SSNY des- mail a copy of any process against SSNY designated as agent of LLC 61st St., #10C, NY, NY 10065. ignated as agent of LLC upon whom the LLC served upon him/her to The upon whom process against it may General Purposes. process against it may be served. LLC, 2207 Broadway, Unit 10L, NY, be served. SSNY shall mail process PUBLIC & SSNY shall mail process to the LLC NY 10024. General Purposes. to the LLC, c/o ICER Brands, LLC, Notice of Qualification of Building at the addr. of its princ. office. 1385 Broadway - 16th Fl., New York, Blocks (US), LLC. Authority filed with LEGAL NOTICES Purpose: Any lawful activity. NOTICE OF FORMATION of Service NY 10018. Purpose: any lawful act NY Dept. of State on 7/26/10. Office Bar LLC. Arts of Org filed with the or activity. location: NY County. LLC formed in Notice of Formation of Hester Street Secy of State of New York (SSNY) on CC REALTY SERVICES LLC, a FL on 5/7/10. NY Sec. of State des- LLC. Art. of Org. filed with Secy. of 6/28/10. Office location: NY County. Notice of Formation of ICER Outlets, domestic Limited Liability Company ignated as agent of LLC upon whom State of NY (SSNY) on 07/23/2010. SSNY designated as an agent upon LLC. Art. of Org. filed with Secy. of (LLC) filed with the Sec of State of process against it may be served Office location: NY Co. SSNY whom process may be served and State of NY (SSNY) on 02/26/10. NY (SSNY) on 7/16/10. NY office and shall mail process to: CorpDirect designated as agent of LLC upon shall mail a copy of any process to: Office location: NY Co. SSNY Location: New York County. SSNY is Agents, Inc., 10 E. 40th St., 10th Fl., whom process against it may be 3333 Broadway, Apt E17A, NY NY designated as agent of LLC upon designated as agent upon whom NY, NY 10016. FL and principal served. SSNY shall mail process 10031. Principal business address: whom process against it may be process against the LLC may be business addr.: 14004 Roosevelt to the LLC, 113 Hester Street, 21 E. 7 St. NY NY 10003. Purpose: served. SSNY shall mail process served. SSNY shall mail a copy of Blvd., Ste. 601H, Clearwater, FL New York, NY 10002. Purpose: any lawful act. to the LLC, c/o ICER Brands, LLC, any process against the LLC served 33762. Arts. of Org. filed with FL Sec. any lawful act or activity. 1385 Broadway - 16th Fl., New York, upon him/her to The LLC, c/o of State, 2661 Executive Center NY 10018. Purpose: any lawful act Clemente Cohen, 49 E. 86th St., NY, Notice of Qualification of COHESIVE Circle, Tallahassee, FL 32301. or activity. NY 10028 General Purpose Notice of Formation of 2861-2865 CAPITAL PARTNERS, L.P. Authority Purpose: any lawful activity. Broadway LLC. Art. of Org. filed with filed with Secy. of State of NY (SSNY) Notice of Formation of a Limited Liability Secy. of State of NY (SSNY) on on 08/06/10. Office location: NY Notice of Formation of COPERNICUS Notice of Qualification of PennantPark Company (LLC): Name: BLUELINE 07/28/10. Office location: NY Co. County. LP formed in Delaware (DE) SOLAR, LLC. Arts. of Org. filed with SBIC GP, LLC. Authority filed with CAMPAIGNS LLC, Organized on: SSNY designated as agent of LLC on 07/06/10. Princ. office of LP: c/o Secy. of State of NY (SSNY) on NY Dept. of State on 7/12/10. Office 07/02/2010. Office locations: New upon whom process against it may be Cohesive Capital (GP), L.P., 650 5th 06/29/10. Office location: NY County. location: NY County. Princ. bus. addr.: York County. Purpose: Any and all served. SSNY shall mail process to the Ave., 31st Fl., NY, NY 10019. SSNY Latest date on which the LLC may 590 Madison Ave., 15th Fl., NY, NY lawful activities. Secretary of State of LLC, c/o Humes & Wagner LLP, 147 designated as agent of LP upon whom dissolve is 02/01/2029. SSNY desig- 10022. LLC formed in DE on 5/7/10. New York (SSNY) designated as Forest Ave., Locust Valley, NY 11560. process against it may be served. nated as agent of LLC upon whom NY Sec. of State designated agent of agent of LLC upon whom process Purpose: any lawful act or activity. SSNY shall mail process to c/o process against it may be served. LLC upon whom process against it against it may be served. SSNY shall Cohesive Capital Partners, 650 5th SSNY shall mail process to the LLC, may be served and shall mail process mail copy of process to: BLUELINE Notice of Formation of Carlton House Ave., 31st Fl., NY, NY 10019. Name c/o Richard T. Carr, Jr., 4705 Center to: c/o CT Corporation System, 111 CAMPAIGNS LLC, 45 Wall St, Suite Development LLC. Arts. of Org. filed and addr. of each general partner are Blvd., Ste. 3009, Long Island City, 8th Ave., NY, NY 10011, regd. agent 1613, New York, NY 10005-1919. with Secy. of State of NY (SSNY) on available from SSNY. DE addr. of LP: NY 11109. The regd. agent of the upon whom process may be served. Latest date upon which LLC is to 7/13/10. Office location: NY Co. SSNY c/o Corporation Service Co., 2711 company upon whom and at which DE addr. of LLC: c/o The Corporation dissolve: No specific date. designated as agent of LLC upon Centerville Rd., Wilmington, DE 19808. process against the company can be Trust Co., 1209 Orange St., Wilmington, whom process against it may be Arts. of Org. filed with Secy. of State served is Thomas A. Rice, Esq., DE 19801. Arts. of Org. filed with DE Notice of Qualification of APOLLO served. SSNY shall mail process to: of DE, Dept. of State, Div. of Corps., Hunton & Williams LLP, 200 Park Sec. of State, Loockerman & Federal CREDIT MANAGEMENT II, L.P. National Registered Agents, Inc., 875 John Townsend Bldg., Dover, DE Ave., 53rd Fl., NY, NY 10166. Sts., Dover, DE 19901. Purpose: any Authority filed with Secy. of State of Ave. of the Americas, Ste. 501, NY, NY 19901. Purpose: Any lawful activity. Purpose: Any lawful activity. lawful activity. NY (SSNY) on 07/30/10. Office loca- 10001. Purpose: any lawful activities. tion: NY County. LP formed in Delaware (DE) on 06/29/10. Princ. Notice of Qualification of CenturyTel office of LP: Attn: John J. Suydam, 9 Long Distance, LLC. Authority filed W. 57th St., 43rd Fl., NY, NY 10019. with NY Dept. of State on 6/14/10. SSNY designated as agent of LP Office location: NY County. LLC upon whom process against it may formed in LA on 1/14/02. NY Sec. of be served. SSNY shall mail process State designated as agent of LLC to the LP at the addr. of its princ. upon whom process against it may office. Name and addr. of each gen- be served and shall mail process to: eral partner are available from SSNY. c/o CT Corporation System, 111 DE addr. of LP: c/o Corporation 8th Ave., NY, NY 10011, regd. agent Service Co., 2711 Centerville Rd., upon whom process may be Ste. 400, Wilmington, New Castle served. LA and principal business Don’t miss Crain’s City Facts Cnty., DE 19808. Arts. of Org. filed addr.: 100 CenturyLink Dr., Monroe, with The Secy. of State of the State LA 71203. Arts. of Org. filed with LA & Book of Lists! of DE, Dept. of State, Div. of Corps., Sec. of State, 8585 Archives Ave., John Townsend Bldg., Dover, DE Baton Rouge, LA 70809. Purpose: 19901. Purpose: Any lawful activity. all lawful purposes.

18 | Crain’s New York Business | August 23, 2010 nb34p18-19cl.qxp 8/20/10 12:01 PM Page 19

PUBLIC & LEGAL NOTICES

Notice of Qualification of HEALTHCARE Notice of Qualification of C-III Realty Notice of Qualification of COHESIVE Notice of Qualification of BSE Ventures Notice of Formation of limited liability FINANCE GROUP, LLC. Authority Services LLC. Authority filed with NY CAPITAL (GP), L.P. Authority filed LLC. Authority filed with NY Dept. of company (LLC). Name: Derived Data, filed with Secy. of State of NY (SSNY) Dept. of State on 7/8/10. Office loca- with Secy. of State of NY (SSNY) on State on 5/27/10. Office location: NY LLC. Articles of Organization filed on 06/07/10. Office location: NY tion: NY County. Princ. bus. addr.: 07/21/10. Office location: NY County. LLC formed in DE on 5/26/10. with Secretary of State of New York County. LLC formed in Delaware (DE) 200 Whitsett St., Ste. 100, Greenville, County. LP formed in Delaware (DE) NY Sec. of State designated as (SSNY) on 7/15/2010. NY office loca- on 05/23/08. Princ. office of LLC: 199 SC 29601. LLC formed in DE on on 07/06/10. Princ. office of LP: c/o agent of LLC upon whom process tion: New York County. SSNY has Water St., NY, NY 10038. SSNY des- 7/2/10. NY Sec. of State designated Cohesive Capital Partners, 650 5th against it may be served and shall been designated as agent of the LLC ignated as agent of LLC upon whom as agent of LLC upon whom process Ave., 31st Fl., NY, NY 10019. SSNY mail process to the principal business upon whom process against it may process against it may be served. against it may be served and shall designated as agent of LP upon addr.: 345 Park Ave., 41st Fl., NY, NY be served. The post office address to SSNY shall mail process to the LLC mail process to: c/o CT Corporation whom process against it may be 10154. DE addr. of LLC: c/o National which SSNY shall mail a copy of any at the princ. office of the LLC. DE System, 111 8th Ave., NY, NY 10011, served. SSNY shall mail process to Corporate Research, Ltd., 615 S. process against the LLC served upon addr. of LLC: c/o United Corporate regd. agent upon whom process may the LP at the addr. of its princ. office. DuPont Hwy., Dover, DE 19901. Arts. him/her is: Oleg Doina, 866 United Services, Inc., 874 Walker Rd., Ste. be served. DE addr. of LLC: 1209 Name and addr. of each general of Org. filed with DE Sec. of State, Nations Plaza, Ste 566, New York, NY C, Dover, DE 19904. Arts. of Org. Orange St., Wilmington, DE 19801. partner are available from SSNY. DE 401 Federal St., Dover, DE 19901. 10017. Purpose/character of LLC: filed with DE Secy. of State, Div. of Arts. of Org. filed with DE Sec. of addr. of LP: c/o Corporation Service Purpose: any lawful activity. any business activity allowed by law. Corps., John G. Townsend Bldg., 401 State, 401 Federal St., Dover, DE Co., 2711 Centerville Rd., Wilmington, Federal St. - Ste. 4, Dover, DE 19901. 19901. Purpose: any lawful activity. DE 19808. Arts. of Org. filed with Notice of Qualification of Two Sigma Notice of Formation of CMA REAL Purpose: Any lawful activity. Secy. of State of DE, Dept. of State, Holdings VC Acquisition Vehicle IV, ESTATE MANAGEMENT, L.L.C. Arts. NOTICE OF FORMATION OF LIMITED Div. of Corps., John Townsend LLC, Authority filed Sec’y of State of Org. filed with Secy. of State of Notice of Formation of Judd LIABILITY COMPANY. NAME: BRAND Bldg., Dover, DE 19901. Purpose: (SSNY) 10/7/08. Office loc.: NY NY (SSNY) on 07/07/10. Office loca- Foundation 101 Spring Street SPIRIT DESIGNS LLC. Articles of Any lawful activity. County. LLC org. in DE 10/3/08. SSNY tion: NY County. Princ. office of Manager, LLC. Arts. of Org. filed Organization were filed with the desig. as agent of LLC upon whom LLC: 330 W. 75th St., NY, NY 10023. with NY Dept. of State on 7/2/10. Secretary of State of New York (SSNY) Notice of Formation of Chop’t 1285 process against it may be served. SSNY designated as agent of LLC Office location: NY County. Sec. of on 07/30/10. Office location: New Sixth LLC. Arts of Org. filed with SSNY shall mail copy of proc. to Attn: upon whom process against it may State designated agent of LLC York County. SSNY has been desig- Secy. Of State of NY (SSNY) on Matthew B. Siano, 379 W. Broadway, be served. SSNY shall mail process upon whom process against it may nated as agent of the LLC upon whom 7/20/10. Office location: NY County. 5th Fl., NY, NY 10012. DE office addr.: to the LLC at the addr. of its princ. be served and shall mail process to process against it may be served. SSNY designated as agent of LLC CSC, 2711 Centerville Rd., Wilmington, office. Purpose: Any lawful activity. the principal business addr.: Judd SSNY shall mail a copy of process to upon whom process against it may be DE 19808. Cert. of Form. on file: Foundation, 101 Spring St., NY, NY the LLC, 330 East 48th Street, New served. SSNY shall mail process to: SSDE, Townsend Bldg., Dover, DE NOTICE OF FORMATION OF Pay and 10012, Attn: Flavin Judd, regd. York, New York 10017. Purpose: For the LLC, c/o Chopt, Attn: President, 19901. Purp.: any lawful activities. Clean LLC. Arts. of Org. filed with agent upon whom process may be any lawful purpose. 853 Broadway, Suite 606, NY, NY Secy. of State of NY (SSNY) on 3/4/10. served. Purpose: any lawful activity. 10003. Purpose: any lawful activity. Notice of Registration: Kim Lee CPAs Office location: New York County. Notice of Formation of BSG Members LLP. Certificate filed with Sec of State SSNY designated as agent of LLC NOTICE OF FORMATION OF Christel LLC. Art. of Org. filed with Secy. of NOTICE OF QUALIFICATION OF of NY (SSNY) on 7/7/10. Office loc: upon whom process against it may D’Agostino, LLC. Article of Organization State of NY (SSNY) on 12/15/09. Office Bogart + Bogart LLC. Articles of New York County. SSNY designated be served. SSNY shall mail process filed with the Secretary of State of location: NY Co. SSNY designated Organization/Application for Authority as agent of LLP upon whom process to: 1011 Beverley Road Brooklyn, NY NY (SSNY) on 02/23/09. Office loca- as agent of LLC upon whom process filed with the Secretary of State of against it may be served. SSNY shall 11218. Purpose: any lawful activity. tion: New York County. SSNY has against it may be served. SSNY shall New York (SSNY) on 06/01/10. N.Y. mail process to: 1261 Broadway, Suite been designated as agent upon whom mail process to the LLC c/o Robinson Office Location: New York County. 302, New York, NY 10001. Purpose: Notice of Formation of GWB DEVEL- process against it may be served. Brog Leinwand Greene Genovese LLC formed in Deleware on 01/14/10 Certified Public Accountancy. OPMENT PARTNERS, LLC. Arts. of The Post Office address to which the & Gluck, PC, Attn: Robert M. Milner, SSNY has been designated as agent Org. filed with Secy. of State of NY SSNY shall mail a copy of any process Esq., 1345 Ave of the Americas, 31st of LLC upon process against it may Notice of Formation of Chop’t 80 Pine (SSNY) on 06/30/10. Office location: against the LLC served upon him is Fl., New York, NY 10105. Purpose: be served. The P.O. address to which LLC. Arts of Org. filed with Secy. Of NY County. Princ. office of LLC: 250 C/O the LLC United States Corporation any lawful act or activity. the SSNY shall mail a copy of any State of NY (SSNY) on 7/20/10. W. 57th St., Ste. 1120, NY, NY 10107. Agents, Brooklyn, NY 11228. process against the LLC served upon Office location: NY County. SSNY SSNY designated as agent of LLC Purpose of LLC: To engage in any Notice of Qualification of CENTRO NP him/her is C/O the LLC: 16192 Coastal designated as agent of LLC upon upon whom process against it may lawful act or activity. Street address MONROE PLAZA, LLC. Authority Hwy, Lewes, DE. 19958. The Principal whom process against it may be be served. SSNY shall mail process of Principal Business location is: 310 filed with Secy. of State of NY (SSNY) Business Address of the LLC is: 23 served. SSNY shall mail process to: to the LLC at the addr. of its princ. W 72 St., New York, NY 10023. on 07/16/10. Office location: NY 8th Ave, NY, NY 10014. Dissolution the LLC, c/o Chopt, Attn: President, office. Purpose: Any lawful activity. County. LLC formed in Delaware (DE) date: N.A. Purpose of LLC: To 853 Broadway, Suite 606, NY, NY engage in any lawful act or activity. 10003. Purpose: any lawful activity. NOTICE OF FORMATION of Wanclan on 07/09/10. SSNY designated as 93 Madison LLC. Arts of Org filed Productions, LLC. Article of Organization agent of LLC upon whom process with NY Sec of State (SSNY) on 7/1/10. DIAMOND HILL PROPERTY HOLD- Notice of Formation of Remedy filed with the Secretary of State of against it may be served. SSNY shall Office: New York County. SSNY des- NY (SSNY) on 06/21/10. Office location: INGS LLC Articles of Org. filed NY Hospitality Group LLC. Arts. of Org. mail process to c/o Corporation ignated as agent of LLC upon whom NY County. SSNY has been desig- Sec. of State (SSNY) 8/3/2010. filed with NY Dept. of State on Service Co., 80 State St., Albany, NY process may be served. SSNY shall nated as agent upon whom process 12207-2543. DE addr. of LLC: 2711 Office in NY Co. SSNY desig. agent 8/2/10. Office location: NY County. against it may be served. The Post Centerville Rd., Ste. 400, Wilmington, of LLC upon whom process may be Sec. of State designated as agent of mail copy of process to: 107 Madison Office address to which the SSNY DE 19808. Arts. of Org. filed with served. SSNY shall mail copy of LLC upon whom process against it Street, Apt. 1B, New York, NY 10002. shall mail a copy of any process Secy. of State, Div. of Corps., process to 24 O’Shea Lane, Summit, may be served and shall mail Purpose: Any lawful activity. against the LLC served upon him is Townsend Bldg., Dover, DE 19901. NJ 07901. Purpose: Any lawful pur- process to the principal business C/O the LLC 7014 13th Avenue, Suite Purpose: Any lawful activity. pose. Principal business location: 45 addr.: 350 William St., Scotch Plains, Notice of Qualification of QUIDNET 202, Brooklyn, NY, 11228. Purpose Park Ave., #1606 , NY, NY 10016. NJ 07076. Attn: John J. Roder, Jr. CAPITAL PARTNERS, LLC. Authority of LLC: to engage in any lawful act or NOTICE OF FORMATION OF Honest Purpose: any lawful activity. filed with Secy. of State of NY activity. Street address of Principal Crafts LLC. Articles of Organization Notice of Qualification of Autumn (SSNY) on 07/13/10. Office location: Business location is: 250 E. 30th filed with the Secretary of State of NY Games RS I, LLC. Authority filed with Notice of Qualification of CIM/46 NY County. LLC formed in Delaware Street, Apt. 6B, New York, NY, 10016. (SSNY) on 6/10/10. Office location NY Dept. of State on 8/6/10. Office E57th St. (NY), LLC. Authority filed (DE) on 05/13/10. Princ. office of NEW YORK County. SSNY has been location: NY County. Princ. bus. with Secy. of State of NY (SSNY) on LLC: 527 Madison Ave., 6th Fl., NY, Name of LLC: THE FEARLESS designated as agent upon whom addr.: 54 Thompson St., 4th Fl., NY, 7/8/10. Office location: NY County. NY 10022. SSNY designated as GROUP LLC. Art. of Org. filed Dept. process against it may be served. NY 10014. LLC formed in DE on LLC formed in Delaware (DE) on agent of LLC upon whom process of State of NY on 7/9/2010. Off. Loc. The Post Office address to which the 8/2/10. NY Sec. of State designated 7/2/10. SSNY designated as agent against it may be served. SSNY shall in NY: NY Cty. Princ. bus. loc.: Robert SSNY shall mail a copy of any as agent of LLC upon whom process of LLC upon whom process against mail process to the LLC at the princ. Davidman, 15 E. 26th St., Ste. 802, process against the LLC served upon against it may be served and shall it may be served. SSNY shall mail office of the LLC. DE addr. of LLC: NY, NY 10010. Secy. of State desig- him/her is C/O the LLC 7014 13th mail process to: c/o CT Corporation process to: Paracorp Incorporated, c/o Corporation Service Co., 2711 nated as agent of LLC upon whom Ave., Ste. 202. Brooklyn, NY 11228. System, 111 8th Ave., NY, NY 10011, 40 E. Division St., Ste. A, Dover, DE Centerville Rd., Ste. 400, Wilmington, process against it may be served. Purpose of LLC: to engage in any regd. agent upon whom process may 19901, also the address to be New Castle Cnty., DE 19808. Arts. of Sec. of State shall mail a copy of lawful act or activity. Street address be served. DE addr. of LLC: 1209 maintained in DE. Arts of Org. filed Org. filed with DE Secy. of State, Div. process to: Robert Davidman, 15 E. of Principal Business location is: 140 Orange St., Wilmington, DE 19801. with DE Secy. Of State, 401 Federal of Corps., John G. Townsend Bldg., 26th St., Ste. 802, NY, NY 10010. E. 81st St. #3A. New York, NY 10028. Cert. of Form. filed with DE Sec. of St., Ste. 4, Dover, DE 19901. 401 Federal St., Ste. 4, Dover, DE Purpose: any lawful activity. State, 401 Federal St., Dover, DE Purpose: any lawful activities. 19901. Purpose: Any lawful activity. Name of Foreign LLC: P. SCHOENFELD 19901. Purpose: any lawful activity. NOTICE OF QUALIFICATION OF DT ASSET MANAGEMENT GP LLC. App. ORTHOPAEDIC INSURANCE for Auth. filed NY Dept. of State: Notice of Qualification of SOURCERY AGENCY, LLC. Arts of Application 12/24/08. Jurisd. and date of org.: DE SOLUTIONS LLC. Authority filed with for Authority filed with the Secy of 12/10/08. County off. loc.: New York Secy. of State of NY (SSNY) on State of New York (SSNY) on Cty. Princ. bus. loc.: 1350 Ave. of the 08/03/10. Office location: NY County. 4/15/10. N.Y. Office Location: NY Americas, 21st Fl., NY, NY 10019. LLC formed in Delaware (DE) on County. LLC formed in DELAWARE Sec. of State designated as agent of 06/25/10. Princ. office of LLC: 360 on 1/19/10. SSNY designated as foreign LLC upon whom process Madison Ave., 18th Fl., NY, NY 10017. agent of LLC upon process may be against it may be served. The Sec. of SSNY designated as agent of LLC served and shall mail a copy of any State shall mail copy of process to: upon whom process against it may process to the LLC: 111 Eighth 1350 Ave. of the Americas, 21st Fl., NY, be served. SSNY shall mail process Avenue, New York, NY 10011. The NY 10019. Addr. of foreign LLC in to c/o Zachary Wydra, Beck Mack & Principal Business Address of the DE is: National Corporate Research, Oliver at the princ. office of the LLC. LLC is: 110 West Rd, Suite 227, Ltd., 615 South DuPont Hwy., Dover, DE addr. of LLC: 2711 Centerville Towson, MD 21204. Purpose of LLC: DE 19901. Auth. officer in DE where Rd., Ste. 400, Wilmington, DE 19808. INSURANCE PRODUCER SELLING, Cert. of Form. filed: DE Sec. of State, Arts. of Org. filed with DE Secy. of SOLICITING AND ADMINISTERING Townsend Bldg., Dover, DE 19901. State, P.O. Box 898, Dover, DE INSURANCE PROGRAMS. Purpose: any lawful activity. 19903. Purpose: Any lawful activity.

August 23, 2010 | Crain’s New York Business | 19 20100823-NEWS--0020-NAT-CCI-CN_-- 8/20/2010 7:52 PM Page 1

News’ presses printing red ink Inside BLT breakup

Continued from Page 1 with the year-ago period, according Continued from Page 1 split. He says he wanted to develop flight of readers and ad dollars to the to the Audit Bureau of Circulations. of their separation are messy, in- new restaurants that were more af- Web. For the all-important Sunday clude feelings of betrayal, and could fordable, appealed to a wider audi- Even as he changes course, how- paper,which contributes the biggest result in lawsuits. In the cutthroat ence and did not carry the BLT ever, Mr. Zuckerman insists that chunk of advertising revenue, the restaurant business, their story is name. He also wanted to bring in buying the presses was entirely his numbers were only slightly better— one that plays out over and over, as more “top-tier” chefs, who would decision—and the right one. a decline of 7% during the period,to famous chefs and their deep-pock- spearhead these restaurants. “We’ve had a huge increase in our 600,000 copies. eted backers—think Rocco DiSpir- “Laurent was resistant to that ap- [advertising] inserts and a huge in- Smaller circulation means that ito and Jeffrey Chodorow—part proach,” says Mr. Haber. crease in our color ads,” he says. the News has to charge less for ads. ways more often than they stay to- Mr.Tourondel says the plan vio- “[The presses] were essential to the An additional problem, observers gether. lated their partnership. “We had an long-term health of the paper.” say, is that advertisers aren’t willing Still, the row between Messrs. exclusive [agreement] that all of the He adds that the high-level per- to pay that much extra for color. Haber and Tourondel offers valu- restaurants would be with me,” he sonnel changes have been about “[The News] does ask for a pre- able lessons for others entering into says.“They wanted to do restaurants finding the right people, not cutting mium,” says Sid Paterson, who partnerships. that would not include me.”He adds costs, and argues that the presses— heads his own advertising agency. For one thing, important details that he supported the idea of an Ital- bloomberg news which use less paper and require less DOING HIS BEST: News owner Mort “But nobody gets what they ask for.” of their marriage are fuzzy, includ- ian restaurant, but not the plan to manpower than their predeces- Zuckerman is still hoping for profits. It doesn’t help that the News’loy- ing the ownership of the brand, bring in a chef who would be equal sors—have actually been a more im- al middle- and working-class read- which remains in “suspended ani- partners with him. portant source of savings. ership—the great strength of the mation,” as Mr. Haber puts it. He also praises Mr. Holiber for sists that it’s too early to say whether paper—is the wrong audience for When they first became partners, Room for many talented chefs transforming the money-losing, the News will end the year in the red, luxury advertisers. Not surprisingly, they agreed that if one left, the oth- indeed, Mr. Haber says he believes formerly weekly U.S. News into a he acknowledges that advertising insiders say color has not been er could not open more BLTs. the company should be “bigger than monthly that generates the bulk of revenue is down. enough to bring in a significant Neither one anticipated that the just one person,” similar to other its revenue from digital ads and sub- Furthermore, while insiders re- number of high-end ads. brand would become so powerful restaurant groups like Union Square scriptions. spect Mr. Holiber as a media execu- “Our clients still believe the News that it would spawn six New York Hospitality Group, which has many tive, they fail to see how a monthly gets them better results than any locations, including BLT Steak and talented chefs. All together now national magazine like U.S. News other paper,” says Shelly Kravitz, BLT Fish, and would travel to Las Mr. Tourondel left the partner- mr.zuckerman’s strategy is to have and a daily metro paper like the president of Plus Media Buying Vegas, Washington, D.C., Atlanta, ship prior to the March 1 announce- Mr. Holiber pull the two publica- News can help each other. Service, which represents Cohen’s Miami and even Hong Kong. And ment, without receiving a payout. tions closer together and find ways “You need editorial synergy, and Fashion Optical and other retailers. though neither will admit it, legal Several weeks later,Mr.Haber hired to “cross-fertilize” sales and attract I’m not sure there’d be any,” says “But our clients are not luxury action seems likely if one or the oth- Rodelio Aglibot as one of two new some of the magazine’s national ad- Roberta Garfinkle, director of print [advertisers].” er makes a power grab for the valu- vertising to the paper. strategy at media-buying agency Uphill battle or not,Mr.Zucker- able initials that stand for Bistro “This is the key to the future: Put TargetCast tcm. man is determined to keep trying Laurent Tourondel. ‘We have a your best man in,” Mr. Zuckerman Meanwhile, the circulation pic- until both of his publications are “We have a relationship right says. ture looks grim.The weekday paper profitable again. now that does not have clarity,” says relationship Maybe so, but Messrs. Holiber averaged sales of 535,000 copies “You make these moves and you Mr. Haber, who describes their and Convey face long odds. during the six months that ended do your best,”he says.“It’s not going original agreement as “complicated right now that Although Mr. Zuckerman in- March 31, a drop of 11% compared to happen overnight.”
and not as well-thought-out.” Mr. Tourondel declines to dis- does not cuss the name issue, describing it as a “legal thing right now.” have clarity’ This month, Mr. Haber opened City’s housing rebound stalling BLT Bar & Grill in the W Down- town hotel without Mr. Tourondel, Continued from Page 1 ple, the monthly insurance payment lenders to rerun home buyers’ cred- because it was under way before they While the scorching summer will increase by $116. it scores right before they closed on broke up. It could be the last restau- chefs who will lead the company. and the end of the federal tax credit “This is huge, because you may their apartments, causing many rant to bear those initials.Neverthe- The timing of his hire is another for home buyers may account for have people who no longer can af- deals to disintegrate at the very last less, in June Mr. Haber registered sore point with Mr. Tourondel. some of the slowdown, some ob- ford these loans,” says Brian minute. Melissa Cohn, president of the name BLT Bar & Grill with the “They were talking to another servers see the decline as a wake-up O’Neill, vice president of origina- Manhattan Mortgage, says she had U.S. Patent and Trademark Office, chef behind my back,” he says. “I call that there’s a larger problem. tions at Exclusive Capital Consul- a few clients who were rejected as a perhaps to protect his rights to that think that’s what happened.” “Six months ago, there was a lot tants Inc. result of this new guideline. name. Despite the turmoil,the partners of euphoria;sales were doubling and To make matters worse, other Currently, Mr. Tourondel re- have each moved on, with Mr. returning to historic norms. But changes regarding FHA-backed No time to splurge ceives compensation from his for- Haber planning to open six new [optimism] is premature,” says loans are expected to become effec- if a buyer leases a car,opens a cred- mer partner as a consultant and ex- restaurants over the next six Jonathan Miller, chief executive of tive this fall. These include an in- it card account or does anything that ecutive chef for nine BLTs in hotels, months—including Casa Nonna, appraisal firm Miller Samuel Inc. crease in the minimum down pay- would lower his credit score be- while Mr. Haber’s company, BLT the Italian eatery that played a role “We are not in a recovery yet.” ment to 10% of the sale price for tween the time he was approved for Restaurant Group, operates all of in their breakup, and Go Burger. In coming months,the stalled re- buyers who have credit scores below a mortgage and the closing date, the the restaurants. Mr. Haber lays Mr. Tourondel just opened LT bound will be tested even further by 580. In addition, the proportion of buyer may be subject to additional claim to the concept, menus, Burger in the tony Hamptons town the slowing of the national the sale price that can go to- fees, or may be rejected altogether. recipes, decor and design of the of Sag Harbor with another partner. economic recovery and by ward buyer concessions is “Borrowers have to be super- restaurants. He says he has signed leases for two the tightening of standards 25% being cut to 3% from 6% for careful,” says Ms. Cohn. This makes Mr. Tourondel additional restaurants with different in a couple of key federal DROP in con- all borrowers. Not all the news on the housing chuckle. “All of the menus and partners. He declined to give their mortgage programs. The tract signings in “These changes won’t be front is bad. Mortgage rates are at recipes were published in my cook- locations or identify his new in- Manhattan in Federal Housing Adminis- July from a helpful,” says Richard Mar- historic lows. In addition, the city’s book. I created them.” vestors. tration, for example, has re- year earlier tin, senior vice president of economy continued its recovery in Of course, these new concepts cently issued a number of DE Capital Mortgage. July, with the unemployment rate Two versions of the story are unproven, and only time will tell guideline changes for its mortgage “Coming along with the expiration falling for the seventh straight the former partners have their if the two can recreate their success insurance program, which are de- of the tax credit, the timing of these month. own versions of why they parted, singly. signed to offset the agency’s risk and changes will make things tougher.” Some experts remain wary, not- colored in part by their respective Whatever their differences, the bolster its reserve funds. Adding to the pain, battered ing that a 9.4% jobless rate is still roles and past experiences. Mr. former partners are still linked by That is bad news for many devel- government-owned mortgage com- high. Haber has invested in restaurants the nine restaurants in which Mr. opers in the city that have embraced pany Fannie Mae is continuing to “With a stubborn unemploy- since the 1980s, using capital more Tourondel is the executive chef— the program this year to hugely tighten up its standards. Last year, ment rate and no real rise in wages, recently from his private equity and both of their reputations are on widen their pool of potential buyers. Fannie stopped backing loans made buyers are going to need some real- firm, Juno Investments, which the line. FHA-backed mortgages allow buy- to buyers in newly constructed ly compelling reasons to make such owns companies that make every- “One of the things they have to ers to put down as little as 3.5% to properties where fewer than 51% of a huge purchase,” says Sofia Song, thing from medical endoscopes to think about is that all of these purchase a condo. the units—or in some cases 70%— vice president of research at parts for ammunition. A big sports restaurants have to have the same The new rules include increasing are in contract or sold. The move StreetEasy.com.“And if it’s hard for fan, he is also an owner of a minor quality, look and feel,” says David the monthly insurance payment on dealt a blow to new developments them to get financing, then it will league baseball team, the Rock Cats Kane, a trademark attorney with mortgages to 0.90% from 0.55% for that were struggling to sell units mean that sellers will have to pro- of New Britain, Conn. Locke Lord Bissell & Liddell. borrowers who put down less than during the recession. vide those compelling reasons— As Mr. Haber sees it, the strains “Otherwise, the public won’t know 5%. For a $400,000 loan, for exam- In June, Fannie began requiring which translates to lower prices.”
of the recession played a role in the what BLT means.”

20 | Crain’s New York Business | August 23, 2010 20100823-NEWS--0021-NAT-CCI-CN_-- 8/20/2010 12:37 PM Page 1

Private-sector employment in New York City rose by 33,500, or 1.1%, for the 12 months ended in July BUSINESS LIVES Source: New York State Dept. of Labor HOT JOBS GOTHAM GIGS EXECUTIVE INBOX Anne Fisher GENERAL MANAGER/CEO COMPANY Sunrise Capital Partners How to fight JOB DESCRIPTION Build and lead a team responsible for all aspects City Hall, of production, including sales, mar- and win keting, business development and operations IN A CITY where the regulations fill MOST IMPORTANT TASKS Grow- up 14 thick volumes, feeling ing the customer base, initiating powerless to influence govern- partnerships and programs ment policy is understandable. Yet, according to Amy Handlin, CREDENTIALS NEEDED 10 years’ “the single biggest mistake experience in consumer electron- entrepreneurs make is not even ics, bachelor’s degree trying to get to know legislators SALARY At least $800,000, and people at City Hall. Part of according to estimates from government officials’ job is having Careers-in-Finance an open door and listening to the concerns of citizens—especially RECRUITER Azhar Quader small businesspeople.” DOWNSIDE The company was Ms. Handlin is deputy minority launched in 2008 and is still leader of the New Jersey General establishing itself Assembly. Her new book, Be Your UPSIDE Opportunity to lead a Own Lobbyist, is a must-read for young and growing business anyone who wants to seek a zoning variance, block a local Sunrise is an alternative invest- ordinance, change a state law or ment management firm that make his or her voice heard. invests in private debt, senior The key, she says, is to start secured lending, turnarounds, with small steps, like taking an debtor-in-possession financing, SOCIAL CLIMBER: hour to introduce yourself to a restructuring, mortgage-related Angelo Caracausi lawmaker whose work could assets and opportunistic trading. works on one of affect your business. “Think of this —RACHEL WEXLER Towerstream’s antennas. as an investment,” she suggests. Nancy Goshow, managing partner of Goshow Architects on West 28th Street, couldn’t agree EXECUTIVE MOVES more. Her firm, whose niche is International Beverage “green” design for public-sector Co. (InterBev): Pat buildings, has built or renovated Graney, 54, was buck ennis more than 130 public schools in promoted to president the city since 1995. of U.S. operations for After Sept. 11, Ms. Goshow InterBev USA, after brought her influence to bear in serving as the company’s general the debate over how to help manager. Scaling the Heights downtown. She was one of the Patterson Belknap: William F. people who testified before the Cavanaugh Jr., 55, joined the law firm as angelo caracausi set foot in the Empire State Building for the state Legislature in favor of co-chair. He most recently served as ‘The first time a few years ago, and within 15 minutes, he was hanging offering grants instead of loans— deputy assistant attorney general of the which is what transpired. United States for civil enforcement in bridges, outside the 81st floor in a harness, bolting on powerful antennas for Ms. Goshow is also a the Antitrust Division of the Department of Justice. high-speed Internet access. “It was the highest I’d ever been, but it member of Community Board 5, Kantar Video: Marc the didn’t bother me,” says the lead engineer for Towerstream, a whose jurisdiction covers Eighth Gaccione, 45, was wireless-service provider for businesses. ¶ He grew up in Park Avenue to Lexington Avenue, named senior vice skyline— from 59th to 14th streets. president of business Slope, Brooklyn, the son of Italian immigrants—and he didn’t “Community boards have development at the it’s just venture far.The 37-year-old electrician still lives in his childhood websites where you can sign up video innovation group, a division of beautiful’ home with his wife, two baby daughters and his 80-year-old for e-mail blasts about topics Kantar. He was most parents. ¶ His brother Giuseppe, who had Down syndrome, lived and issues,” she points out. recently director of channel there, too, until his death three years ago. “He was my best friend,” She adds, “Local elected development at MediaMind. officials send their legislative Axxcess Capital: Elliot Spiro, 38, was says Mr. Caracausi, who brought his younger brother with him aides to community board named chief executive of the investment wherever he could—even to the top of the Empire State Building. meetings, and you can walk right banking and real estate company. He was previously a senior managing ¶ Although Mr. Caracausi has climbed buildings all over the up to them and tell them what director at Greystone & Co. country, his favorite view will always be from a Manhattan your concern is.” Jaguar Freight Services: Karen Gaines, 47, was named chief financial officer at skyscraper, looking toward Brooklyn. “The bridges, the skyline— HAVE YOU EVER influenced public the freight-solutions company. She was it’s just beautiful,” he says. “It’s home.” policy? How did you do it? Tell us at See EXECUTIVE MOVES on Page 22 —hilary potkewitz www.crainsnewyork.com/execinbox.

August 23, 2010 | Crain’s New York Business | 21 20100823-NEWS--0022-NAT-CCI-CN_-- 8/20/2010 12:39 PM Page 1

RÉSUMÉ REVIEW Harlem and Haiti meet Is your job search all it could be? We ask the experts. Head of Yéle Haiti yourself, but doing it for others. And ly cataclysmic role for Haiti in 2022. NAME MARY ASTA I want to teach my children that. Now, I’m the first to say it’s a far- SUMMARY thinks big, as in reaching goal, but think about the So have you traded Harlem for Haiti? moral implication it would have in Senior executive seeking corporate/ World Cup 2022 big Oh, no. I am and will continue to be the world.This is just one in a series community relations position very involved in the Harlem com- of long-term initiatives that offers a PROFESSIONAL EXPERIENCE munity. I live there. But you can’t go chance for hope.  Master Poe Productions Inc., 2007-2010 BY DAVID MONTALVO to Haiti and not be moved. Did the BP oil spill take the President erek q. johnson, the When was your last visit to Haiti? focus off of Haiti? Ensured feasibility, sustainability, product longevity for new hair-care tool  former Time Warner ex- I was there about two weeks ago,and I wouldn’t say BP had an adverse ef- Fisher Center for Alzheimer’s Research Foundation, 1995-2007 ecutive who rescued the there’s still a lot of need for basic fect on our donation flow. But what Vice president/chief operating officer Apollo Theater, is out to supplies that you and I take for it did do, obviously, is steer some of Built organization from startup to one of the most respected Alzheimer’s Dsave Haiti. He had been interim granted, like water, medical sup- the visibility and focus away from research foundations worldwide. Oversaw finances, operations, CEO of Yéle Haiti, a Haitian hu- plies, toilet paper and soap. And Haiti. Wyclef ’s announcement of marketing, fundraising, event management, public relations, marketing manitarian organization, for mere Yéle Haiti is already very good at de- his personal plans has recast the at- and sponsorships. hours when its founder, Grammy livering those kinds of necessities. tention on Haiti.  Prior experience 1980-1995 Award-win- It’s systematic. Producer, theatrical agent and performer ning musician Is Wyclef Jean serious about his Worked as model, actress, producer, manager and casting agent with Wyclef Jean, What’s your goal for Yéle Haiti? presidential bid? organizations including Warner Bros. (Toronto), Fontana Films (Rome) MOVERS & announced Like what the World Without disparaging anyone, it’s in and Paramount Pictures (Rome) SHAKERS his bid for the Cup did for South vogue to suddenly be an advocate for Résumé appears in condensed form. island nation’s Africa, I believe it Haiti. Wyclef, however, has been EXPERT ADVICE presidency, could play a similar- there for many,many years,when he Derek Q. and Mr. John- could have otherwise been sitting by Mary has a wonderful set of experiences that are hidden between unclear son shed the a lake somewhere, not caring. “bookends.” My initial take was, “Here is a person who had seven to 10 Johnson interim tag. years of experience and reported to a director.” Given her level of The father Do you ever get to just sit by a lake? experience, she should lead with “general manager” or “nonprofit of a teen and Every morning, I wake up executive.” On the other end of the bookend, it seems that Mary wants to tween—already CEO of his own with my kids. And we have a keep a two-page résumé. With her experience, she can use a third page to company, Integrated Urban Hold- dog now. So I walk the dog tell me where she went to college, what community service she is doing, ings—spoke with Crain’s about around the neighborhood her speaking engagements, awards, professional associations, etc. Haiti’s future and his life in Harlem. and spend time at the dog —jason levin, senior account executive, Vault.com run.I go to the gym.And hav- Your plate already seems full. Why ing spent that quality time To contact this candidate or to be featured in “Résumé Review,” e-mail us accept being CEO at Yéle Haiti? with my kids, my dog at [email protected]. When I was younger, it was all about and my trainer, I’m ambition.But now,it’s about balance. ready for the day’s It’s not just about doing good for challenges.

EXECUTIVE MOVES RecycleBank: Jonathan was promoted to president of the leasing He previously worked as an independent partner in the advertising group. Most Hsu, 38, was named and advisory-services firm. He was most consultant. recently, she worked at Manatt Phelps chief executive at the recently an executive vice president. Lowenstein Sandler: Norman N. Kinel, & Phillips, where she served as a Continued from Page 21 environmental and Cosmo Montemurro, 31, was promoted to 51, joined the law firm as a partner in partner. previously vice president of finance at green-initiatives director from associate director. the bankruptcy, financial reorganization NBC Universal: Jason Planet Payment. organization. He was The Nature and creditors’ rights group. He was Kornweiss, 35, was TouchTunes Interactive Networks: Patrick formerly chief Conservancy: Geof formerly a partner at Duval & named vice president Barry, 47, was named senior vice executive at 24/7 Real Rochester, 50, joined Stachenfeld. of broadcast president and chief financial officer at Media. the environmental Swig Equities: Joe operations in the the interactive entertainment network. Gardner Nelson + Partners Inc.: Kate group as chief Caraciolo, 47, was company’s broadcast- Previously, he served as chief financial Cusick, 35, joined the advertising agency marketing officer. He promoted to vice operations center. He officer of Oberon Media. as a partner and project director. She was was previously president and director was most recently vice L&L Holding Co.: Craig J. Ramsey, 49, was formerly director of brand and executive vice of engineering and president of television-station broadcast appointed managing director of investor integrated marketing at (RED). president of marketing construction services. operations for the NBC and Telemundo coverage at the commercial real estate Jesse Emery, 34, was promoted to partner at World Wrestling Entertainment Inc. He was formerly owned-and-operated stations. management company. He was of digital communications from director Dechert: M. Holland West, 57, joined the director of engineering Clayman & Rosenberg: Harlan Protass, previously at Deutsche Bank, where he of technology. law firm as a partner in the financial services. 43, joined the law firm as a partner. He served as a managing director. Winick Realty Group: Steven E. Baker, 39, services practice group. He was BTIG: Drew Meany, 40, was named a was previously the name partner at the previously head of the global hedge managing director in the fixed-income, Law Offices of Harlan J. Protass. fund, private equity, derivatives and high-yield and distressed trading group Hangar Design Group: Andre Gutierrez, CORPORATE LADDER structured finance practices at Shearman at the broker-dealer firm. He was 41, was named director of brand strategy & Sterling. previously a managing director at at the branding and design agency. He Jefferies: Erez Biala, 30, was named Christopher Street Capital. was formerly an account director at NEW CEO TO HEAD CANCER CENTER managing director and global co-head of Junior Achievement of New York Inc.: Walton Isaacson. MEMORIAL SLOAN-KETTERING CANCER CENTER has named Dr. Craig collateralized loan obligation and Gabrielle Belson Rattner, 51, joined the Gilt City: Nate Thompson president and chief executive, effective Nov. 2. He succeeds Dr. collateralized debt obligation trading at education nonprofit as vice president for Richardson, 39, was Harold Varmus, who left MSKCC in July. Dr. Thompson, 57, an internist and the securities and investment banking resource development. She was formerly named president at the group. He was previously at Barclays director of recruitment at NYU’s division of Gilt oncologist, is director of the University of Pennsylvania’s Abramson Cancer Capital, where he served as a member of College of Arts and Science. Groupe Inc., an online Center and associate vice president for cancer services of the the distressed special situations trading Razor & Tie: Tim Foisset, 34, was retailer. He was UPenn Health System. There, he presided over the opening of group. promoted to vice president of digital previously vice the cancer center, the development of proton therapy and the The Center for marketing at the independent record president and general expansion of the center’s translational research program. As a Discovery: Tana M. label. He was formerly senior director of manager of Gilt Man. researcher, Dr. Thompson’s focus is on the role Session, 41, was named digital marketing. Zach Overton, 34, was named director of Loeb & Loeb: metabolic changes play in cancer, as well as the vice president of Bryan Reyhani, 35, was ticket sales. He had been at Plum human resources at the promoted to partner at the law firm. He Benefits, where he most recently served disease’s genetic basis. A Dartmouth Medical School disabilities-services was previously an associate. as vice president of entertainment sales. alumnus and former U.S. Navy officer, he has held organization. She was DoubleVerify Ltd.: Rose Steinberg, 37, was —maia blume posts at the University of Michigan, the University of previously human named senior vice president of sales resources manager at operations at the online-advertising- Chicago and the Howard Hughes Medical Institute, EXECUTIVE PROMOTIONS and he is an advisory board member of several Coleman Research Group Inc. verification company. She had been a General Growth Properties: other nationally known cancer centers. Michael senior director of business transformation The fastest way to get an announcement into Piazzola, 47, joined the real estate and customer advocacy at Yahoo. Crain’s is to submit details online. Fill out the form —GALE SCOTT investment trust as senior general Frankfurt Kurnit Klein & Selz: Terri J. at www.crainsnewyork.com/submit. The manager of the South Street Seaport. Seligman, 49, joined the law firm as a Executive Moves column is also available online.

22 | Crain’s New York Business | August 23, 2010 20100823-NEWS--0023-NAT-CCI-CN_-- 8/19/2010 5:37 PM Page 1 chemex / INSATIABLE NETWORKING RECEPTIONS CRITIC TUESDAY, AUGUST 31 flickr.com Gael Greene THE Join NETWORKING FOR PROFESSIONALS for a high-speed-networking reception from 6:30 p.m. to 8:30 p.m. at Galway WEEK Hooker Pub, 7 E. 36th St. Fees are $20 for members and $30 for nonmembers in advance, and $35 at the door. For It’s Downing, more information, e-mail AHEAD [email protected]. AUG. 30-SEPT. 5 CULTURAL EVENTS but it’s not out SATURDAY, SEPTEMBER 4 Head to the GUGGENHEIM MUSEUM for CONFERENCES & SEMINARS the final weekend of Haunted: WHAT HE’S West Village spot WEDNESDAY, SEPTEMBER 1 Contemporary Photography/Video/ INSIDERS GROUP INC. will hold a seminar Performance, on the use of photographic READING offers appealing on insiders’ secrets to financial freedom imagery in reproductive media. The from 7 p.m. to 9 p.m. at the Insiders museum is open from 10 a.m. to 7:45 CUSHMAN & WAKEFIELD Chief American bistro food Success Institute, 216 Greene Ave., p.m., and admission is $18 for adults, Executive Glenn Rufrano became a ground floor, rear room, in Brooklyn. $15 for students and seniors, and free for Michael Lewis groupie this ummer in the city seems The program is free. For information, members and children under 12. For summer. He recently read The Blind to have emptied a lot of call (718) 622-2271 or more information, visit Side, the inspiring story of Michael e-mail [email protected]. www.guggenheim.org. restaurants, especially on Oher, a black homeless child who steamy weekends. Mon- WORKSHOPS SATURDAY, SEPTEMBER 4 was adopted by a white family and

days can be desolate, too. steven richter TUESDAY, AUGUST 31 Check out an exhibition at the NEW went on to a pro football career. Mr. SThe surge of retail optimism early FAMILY STYLE: The fried chicken Join THE WORKSHOP IN BUSINESS MUSEUM by Amy Granat, Light 3 Ways, Rufrano, a football fan, was moved this year colored spring openings, OPPORTUNITIES for a program on using which explores the ways light can be by the young man’s journey. He but now the gloom-mongers are in social media for business from 6 p.m. to perceived through sight and sound. The saw the film but preferred the museum is located at 235 Bowery, and full voice.Investors trolling for chefs 10 DOWNING 7:45 p.m. at the New York Public book, in part because it offered and chefs tap-dancing for investors Library’s Science, Industry and Business admission is $12 for adults, $10 for FOOD & WINE Library, 188 Madison Ave. The event is seniors, $8 for students, and free for more details on the game. stand momentarily locked in hard- 10 Downing St. Mr. Rufrano just finished The ening cement. I’m thinking all this free. For more information, call members and children under 18. For (212) 255-0300 (212) 684-0854, ext. 0538. more information, visit Big Short, which he read to and feeling anxious about the future www.10downingnyc.com www.newmuseum.org. deepen his understanding of the at 10 Downing on a sweltering WEDNESDAY, SEPTEMBER 1 Pick mortgage mess that nearly Thursday night. The sidewalk ta- SELFRECRUITER.COM NEW YORK SUNDAY, SEPTEMBER 5 and of the wrecked the economy. The book bles are full of youngish folk who PUBLIC LIBRARY’S JOB SEARCH CENTRAL Visit JOE’S PUB at THE fear neither heat nor Sixth Avenue CUISINE American bistro will sponsor a program on organizing PUBLIC THEATER, 425 week tells the story of hedge fund traffic fumes. But inside, customers PRICE Entrées $24-$32.50 your job search from 6 p.m. to 7:30 p.m. Lafayette St., to catch a solo managers who made fortunes by fill only three or four tables. at the New York Public Library’s Science, acoustic performance by musician Black betting that millions of people SERVING Dinner seven days; I’m basking in the freedom to Industry and Business Library, 188 Francis. The show begins at 9:30 p.m., would default on their mortgages. Madison Ave., lower level, room 018. and tickets cost $25. For information speak without shouting and enjoying brunch Saturday and Sunday “The books are so different,” says The event is free. Call (212) 372-9878 or and tickets, visit www.joespub.com. Mr. Rufrano. “I can’t believe they the special fried chicken, crusty and RESERVATIONS Recommended e-mail [email protected] for details. —maia blume were written by the same person.” bursting with flavor from its butter- NOISE LEVEL Noisy when full THERESA AGOVINO milk bath and a dose of Tabasco and To view Crain’s full calendar listings, go to www.crainsnewyork.com/events — smoked paprika before getting rolled I can’t wait to return. in corn meal and flour. It’s a nod to I will definitely go back. the fried chicken of so many “family I’ll let them simmer awhile. meals” chef Jonnatan Leiva cooked for staff en route to this kitchen.And NO HATS Never again. it’s a solid contender for affection in a city crazed for fried chicken, though the meager macaroni and and salty on a roasted corn jalapeño cheese underneath is lukewarm, and sauce that is almost a porridge, so I’d like it crisp on the edges.Leiva,re- good it almost doesn’t matter that cruited from San Francisco, is the clams alongside are mostly shriv- shocked by the summer exodus. “It eled in their shells. Still, at $27 there doesn’t happen in San Francisco,” he have to be better clams, more care- says. “I just had to get used to it.” fully cooked. Actually, prices strike He arrived in winter 2009 after me as aggressive for this uncertain Downing’s founding whisk Jason moment—appetizers from $6 for a Neroni announced he was moving small plate to $18 for that frisée, en- west to raise his family.The concept trées $24 to $32.50—but maybe of American casual bistro, small that’s just the less-employed me plates and pickles remains. Papas keeping an eye on the bank account. bravas survive, now on a hand-cut I let our companions choose steak tartare with romesco and a dessert. It’s got to be a pretty emo- lush curl of white anchovy (bo- tional panna cotta to move me, and querone). The pickles come along- this lemon-buttermilk baby with side a bowl of mixed nuts and kettle roasted peaches in balsamic syrup corn. And his new spiced lamb just doesn’t do it. The butterscotch burger with strips of thick bacon, pot de crème is shy of butterscotch. caramelized onions and a choice of Dulce de leche and candied walnuts cheese has a cult following, he says, alongside scarcely make up. even at $25.It’s a hit at our table,too. The “curated” art on the walls has I love dipping the shoestring fries in that vintage salon look The Lion per- its side of cucumber-yogurt sauce. fected. Take the time to check the Creamy but creamless chilled place out. In daylight, you’ll see it’s a tomato soup and a “frisée aux lar- bright airy triangle wrapped in glass dons”salad with a poached farm egg on a hot Village corner that already and summer beans—romano, hari- has the draw of Scuderia next door cots verts, yellow and fresh cranber- (quiet tonight, too) and Da Silvano ry beans—are my choices over a and Bar Pitti across the street. I don’t meager and uninspired $6 taste of feel drawn to return from my Upper chicken liver mousse or the heir- West Side Bat Cave, but 10 Down- loom tomato and burrata salad. It’s ing is good for the neighborhood. not enough to be an heirloom if you ain’t got major tomato tang. Copyright © 2010 by Gael Greene. Sautéed diver scallops are sweet Syndicated by www.insatiable-critic.com.

August 23, 2010 | Crain’s New York Business | 23 Project2:fp template.qxd 8/17/10 3:11 PM Page 1

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