DOCSLIB.ORG

Big Banks Losing M&A

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Big Banks Losing M&A 20120604-NEWS--0001-NAT-CCI-CN_-- 6/1/2012 7:15 PM Page 1 INSIDE REPORT TOP STORIES THE A TO Z Drink GUIDE TO stink: Big SILICON Soda aims ® ALLEY to fight PAGE 15 Bloomberg ban VOL. XXVIII, NO. 23 WWW.CRAINSNEWYORK.COM JUNE 4-10, 2012 PRICE: $3.00 PAGE 2 Sugar buzz: Readers weigh in on the idea PAGE 10 IT’S ALL RELATED To your health: Late Trio dominates nightclub owner development in bequeathed bar’s profits to hospitals NYC. Here’s “IF THE CITY DOES WELL, WE ALL DO PAGE 3 how they do it WELL,” said Related Cos. CEO Stephen Tax cuts for wage Ross, depicted here BY DANIEL MASSEY with partners Jeff hikes: A political Blau (left, in illustration) and deal takes shape When Jeff Blau started at The Re- Bruce Beal Jr. (right). lated Cos. in 1989, the first task in Albany Chief Executive Stephen Ross THE INSIDER, PAGE 8 gave the 21-year-old was to buy up auto shops in Willets Point, Queens. Related built stores for Kmart,and the retailer wanted one in the area. Nothing came of it, but 23 years later, Related is about to gain control of Willets Point in a high-stakes gamble to salvage the city’s most complicated real estate development project. To understand why Related tri- umphed over three other bidders there is to understand why it has become the leading developer in a city notoriously difficult to build in: Related thrives on that com- plexity.It is better at navigating the BUSINESS LIVES obstacles—from bargaining with unions to compromising with city GOTHAM GIGS officials—and more willing to take NASCAR’s marketing risks than its rivals. It thinks in chief hits the road P. 25 decades, not quarters. See RELATED on Page 23 ● ANNE FISHER Seed money for social harperfred entrepreneurs P. 25 ● MOVERS & SHAKERS Tracey Stewart finds her “moment of Zen” P. 26 Big banks losing M&A biz E-tailer ● GAEL GREENE A dream of a wine bar opens P. 27 becomes Bad PR taking its toll as smaller i-banks SHIFTING FEE-SCAPES grab greater share of corporate mergers M&A fee market share retailer INDEX MAJOR BANKS porations on their mergers and ac- NEW YORK, NEW YORK _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _6 BY AARON ELSTEIN quisitions. 2007: 70% Bonobos stores VIEWPOINT _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _10 Goldman Sachs,Morgan Stan- For all the public relations debacles ley and a handful of big institutions hope to replicate OPINION _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _11 suffered by the giants of Wall have dominated this field for SMALL BUSINESS _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _12 Street, there never was much evi- decades and are especially eager to online success REAL ESTATE DEALS _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _13 dence that negative PR was actual- protect it, because M&A advisory 2012: 56% ly hurting their business. work means ultraprofitable fees BY ADRIANNE PASQUARELLI CLASSIFIEDS _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _20 Until now, that is. with less risk and regulatory scruti- HOT JOBS _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _25 Cracks are starting to show in a ny than trading or other Wall BOUTIQUE BANKS Step off the elevator into the new- 2007: 8% THE WEEK AHEAD _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _27 highly lucrative franchise for the Street activities. ly expanded Chelsea headquarters big banks: advising blue-chip cor- Yet there are unmistakable and “guideshop” of e-commerce signs that merger-minded corpo- menswear brand Bonobos Inc. and rate leaders are starting to look for you hit a sea of color—magenta advice from anyone but the too- khakis, turquoise short shorts and big-to-fail banks. These banks’ corn-yellow oxfords. When the take of all the fees generated by 2012:17% company debuted five years ago, merger activity in North America most young men wouldn’t have so far this year has dropped to 56% been caught dead in seven-inch from 70% five years ago, according halibut-print swim trunks. Now NEWSPAPER See BIG BANKS on Page 24 Figures YTD. Source: Sanford C. Bernstein & Co. See E-TAIL on Page 23 20120604-NEWS--0002,0003-NAT-CCI-CN_-- 6/1/2012 6:54 PM Page 1 COMMENTARY Beverage makers sour A good cause on sweetened-drink ban in our backyard will be hit hardest because they will Move could cut into their 85% margins have to shift their focus to less lucra- tive products, like energy drinks and n spring, thoughts turn to nature. So it fig- juices, that cost more to produce. And ures that Central Park: An Anthology BY LISA FICKENSCHER they are fighting back the hardest. (Bloomsbury,$16),featuring writers like Su- After news of the mayor’s plan broke It’s no wonder that the business com- last week, the American Beverage As- san Cheever, David Michaelis, Mark Hel- munity has reacted harshly to Mayor sociation ran an ad in The New York prin, Jonathan Safran Foer and Bill Buford, Michael Bloomberg’s proposal to Times. Among its claims is that sugar- and in part benefiting the Central Park Conservan- banish super-size portions of sugary sweetened beverages make up just 7% drinks: Soda is a cash cow like no of the average person’s daily diet. I newscom cy,which runs Manhattan’s 843-acre masterpiece of other in the food-service industry. SUGAR HIGH: Soda provides fat profit margins. The ad comes on the heels of a sev- landscape architecture, should have just hit stores. “The profit margins are very high en-figure campaign launched in the So, too, that on the night of June 6, the conservancy on beverages,”said Alan Vituli,former city in April that touts the industry’s chairman and chief executive of Car- implements his ban, which will pro- diverse product lines and its efforts to hosts its annual said Doug Blon- rols Restaurant Group Inc., which hibit restaurants and other retailers reduce the calorie count of certain Taste of Summer sky, president of owns more than 500 Burger Kings in from selling sugary drinks containing beverages. party at the park’s the conservancy. the U.S., including New York. more than 16 ounces or more than 25 “Offering such a wide range of low- Bethesda Terrace. “But we’d never That is an understatement. calories per eight ounces, consumers and no-calorie options means on aver- A donation of drilled down to A soda priced at $1.49,for example, will have to change their purchasing age there are now 23% fewer calories $400 ($10,000 to find out which costs a retailer approximately 25 cents. habits—and restaurants will, too. per serving,” an ad from April claims. $20,000 for ta- held the donors.” The remaining $1.24 is pure profit. “Over time, if you make consump- A spokesman for the association, bles) will buy you Now they Beverage manufacturers such as tion more difficult,like the tax on cig- Chris Gindlesperger, said the trade grub from 40 city have,and the pic- Pepsi and Coca-Cola vie for exclusive arettes, ultimately consumption will group will be exploring its legal op- restaurants—in- ture is nowhere contracts with restaurant chains like diminish,” said Mr. Vituli. tions to combat the proposed ban, but cluding ‘21,’ Ar- near as pretty as Burger King and Applebee’s, and of- he did not elaborate. mani Ristorante, MICHAEL the park on a June fer financial incentives. Soda’s shrinking sales Soda may be the biggest target of the Benoit, Circo and GROSS day. On average, “We spend months and months In fact, soda sales have been declin- ban,but sweetened teas are also includ- Le Cirque, Ser- only 17% of park- evaluating the contracts to see which ing for more than a decade, while sales ed. Honest Tea, for example, which is endipity, SD26 side apartments one will give us the most,” said Zane of bottled water and energy drinks have considered one of the healthier brands and Swifty’s— have chipped in Tankel, chief executive of Apple- been increasing, partly in response to because of its low sugar content and or- entrée to a silent auction and to maintain their backyard Metro Inc.,which operates more than public health campaigns aimed at edu- ganic ingredients, would not be able to dancing under the stars.
Load more

Recommended publications
  • Leading the Way in Life Sciences Innovation
    LEADING THE WAY IN LIFE SCIENCES INNOVATION JANUARY 2021 1 LifeSci NYC: Leading the Way in Life Sciences Innovation OUR VISION: HEALTHIER COMMUNITIES, A STRONGER ECONOMY With its deep and diverse talent pool, network of premier academic medical centers, lab space, and access to National Institutes of Health and venture funding, New York City has emerged as a major center of life sciences innovation. What started as a hub of biomedical research, clinical care, and commercial biotech firms on the East Side of Manhattan has evolved to become a citywide ecosystem, with neighborhood-based clusters that each make a distinctive contribution to the city’s growing life sciences sector. 2 LifeSci NYC: Leading the Way in Life Sciences Innovation Now is the time to build on these strengths and invest in the spaces, companies, and talent that will create life-saving cures and treatments, while catalyzing new economic opportunities for the people of this city. Over the next decade, Over 3M square feet of additional life sciences space, the City will nurture the including specialized facilities to prepare early-stage development of a thriving discoveries for commercialization, incubator space for life sciences industry startups, and space for expanding biotech companies by investing in: to continue to grow in NYC 100 new startup companies that will drive the development of small molecules, biologics, vaccines, gene therapies, and cell therapies—addressing high unmet medical needs These investments Thousands of new jobs in an industry where 50 percent will lead to: of jobs do not require a bachelor’s degree Dozens of new cures and treatments to keep New Yorkers safe and healthy 3 LifeSci NYC: Leading the Way in Life Sciences Innovation OUR BUILDING BLOCKS: TALENT, INSTITUTIONS, AND INFRASTRUCTURE New York City is home to a deep and diverse talent pool, premier academic and medical institutions, and the widest and most varied healthcare-delivery infrastructure of any place in the world.
    [Show full text]
  • Engine Failure
    S EPTEMBER 2003 www.nycfuture.org ENGINE Inside FAILURE Falling Behind p.8 Through boom times and bust, NYC’s jobless rate outpaces the nation’s. Is “FIRE” Burning Out? p.9 New York’s economic foundation starts to sag—with no reinforcements With Economic Woes in sight. That Go Well Beyond 9/11, Outbound Traffic p.15 Demographic analysis shows that out-migration from NYC has spiked New York Needs a Bold New Vision since 9/11. To Renew the City’s Economy Does Bloomberg Mean Business? p.18 An early look at the billionaire mayor’s economic development vision. Beyond the Boroughs p.22 Houston and L.A. defeated their FOR MUCH OF ITS HISTORY NEW YORK HAS MANAGED TO CONFOUND economic demons: can New York? both those who predicted its demise and those whose aspirations for the city possessed no limits. This is anoth- On the surface, New York er one of those times. As the city begins to emerge from the depths of its fiscal appears to be in good Fcrisis, New York remains among the world’s pre-eminent shape to weather the cities, with a storehouse of financial, human and cultural capital without equal anywhere on the planet. It possess- current economic crisis. es arguably unmatched concentrations of skilled labor and “Yet the bitter reality is that a growing population of energetic and entrepreneurially in the longer term, oriented immigrants. It remains the world’s undisputed financial center and enjoys one of the lowest crime rates New York continues to lose of any major American city.
    [Show full text]
  • Suri Kasirer, the Lobbyist Behind Cornell's Roosevelt Island Win
    BETABEAT POLITICKER GALLERISTNY COMMERCIAL VSL POLITICKERNJ SEARCH CO Chartweek Lease Beat Mortgage Beat Sales Beat Power Broker Suri Kasirer, the Lobbyist Behind Cornell’s Roosevelt Island Win By Daniel Edward Rosen 6/05/12 10:00am Twitter Facebook 3 LinkedIn 1 Email Print It was near the end of 2011, and what most New Yorkers knew of the city’s plan to create an ambitious tech campus on Roosevelt Island was that Stanford University had the project in the bag. For Suri Kasirer, the founder and president of Kasirer Consulting, the notion could not have been farther from the truth. Indeed, the New York native had been working behind the scenes for months on behalf of her darkhorse client, Cornell University, to whittle down the number of candidates vying to oversee the project, and it was all finally beginning to pay off. “We’re in a service business, so we do whatever we have to do to make sure that our clients can achieve their goals … within a framework of ethics and principle,” said Ms. Kasirer, whose offices are decorated with photographs of herself next to a litany of the country’s most powerful public figures, Bill and Hillary Clinton as well as Bette Midler not least among them. “Sometimes it means doing the dirty work.” Even before her involvement with Cornell University, the institution now charged with overseeing what many see as Mayor Michael Bloomberg’s crowning civic achievement, Ms. Kasirer learned about dirty work during her tenure as advisor to then-Governor Mario Cuomo and as an advocate for nonprofits.
    [Show full text]
  • Guests with Disabilities Guide
    Guests with Disabilities Guide The USTA is committed to ensuring that the US Open is an enjoyable and accessible experience for all of our guests, including those individuals with disabilities. The USTA Billie Jean King National Tennis Center (BJKNTC) – the Home of the US Open – either meets or exceeds all structural and service requirements as stipulated by the Americans with Disabilities Act (ADA), providing easy access for our guests with disabilities, as well as their families and friends, to enjoy the greatest sports and entertainment experience in the world. This guide is designed to provide information about BJKNTC accessibility and related features. As always, should you have any questions or need further assistance, please contact Customer Service at 718-760- 6200 (ext. 6271). Thank you for your support and patronage. GENERAL ACCESS INFORMATION Accessible Parking: US Open parking areas contain designated parking spaces for guests with disabilities. Parking passes can be purchased prior to the US Open for Lot C (subject to availability) by contacting the US Open Box Office. In the event that Lot C is oversold, passes may be purchased for parking Lot H, where a wheelchair accessible shuttle service is available. For more information regarding accessible parking during the US Open, please contact Customer Service at 718-760-6200 (ext. 6271) and select menu option #1. In addition to accessible parking, guests with disabilities can also access the BJKNTC via the #7 train, exiting at the Willets Point / Shea Stadium stop and via the Q48 bus, exiting at the Roosevelt Avenue or Willets Point Station stops. Emergency Evacuations: US Open staff is trained in evacuation and emergency procedures to ensure the safe evacuation of all patrons, including those with disabilities.
    [Show full text]
  • 2013 Fan Guide
    usopen.org 2 2013 FAN GUIDE TABLE OF CONTENTS This guide is designed to help you get the most out of your 2013 US Open Tournament Schedule . 2 While On Site ������������������������������������������������������������������������������������������������������������������������ 2 – 4 experience. However, if you are in need of further assistance or information, Restaurant Guide � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � �2 – 3 please feel free to call the USTA Billie Jean King National Tennis Center Attractions � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 3 Special Events � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � �4 Ticket Office at 718.760.6363 or go to usopen.org. Guest Services � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � �4 How to Get Access . 5 While you’re watching the world’s most attended annual sporting event, What You Can Bring . 5 – 6 Transportation �����������������������������������������������������������������������������������������������������������������������6 – 7 you’re also giving back to your community. Proceeds from the US Open go What We Are Doing �������������������������������������������������������������������������������������������������������������������7 toward funding the USTA’s mission of promoting and developing
    [Show full text]
  • Deloitte Studie
    Global Powers of Retailing 2018 Transformative change, reinvigorated commerce Contents Top 250 quick statistics 4 Retail trends: Transformative change, reinvigorated commerce 5 Retailing through the lens of young consumers 8 A retrospective: Then and now 10 Global economic outlook 12 Top 10 highlights 16 Global Powers of Retailing Top 250 18 Geographic analysis 26 Product sector analysis 30 New entrants 33 Fastest 50 34 Study methodology and data sources 39 Endnotes 43 Contacts 47 Global Powers of Retailing identifies the 250 largest retailers around the world based on publicly available data for FY2016 (fiscal years ended through June 2017), and analyzes their performance across geographies and product sectors. It also provides a global economic outlook and looks at the 50 fastest-growing retailers and new entrants to the Top 250. This year’s report will focus on the theme of “Transformative change, reinvigorated commerce”, which looks at the latest retail trends and the future of retailing through the lens of young consumers. To mark this 21st edition, there will be a retrospective which looks at how the Top 250 has changed over the last 15 years. 3 Top 250 quick statistics, FY2016 5 year retail Composite revenue growth US$4.4 net profit margin (Compound annual growth rate CAGR trillion 3.2% from FY2011-2016) Aggregate retail revenue 4.8% of Top 250 Minimum retail Top 250 US$17.6 revenue required to be retailers with foreign billion among Top 250 operations Average size US$3.6 66.8% of Top 250 (retail revenue) billion Composite year-over-year retail 3.3% 22.5% 10 revenue growth Composite Share of Top 250 Average number return on assets aggregate retail revenue of countries with 4.1% from foreign retail operations operations per company Source: Deloitte Touche Tohmatsu Limited.
    [Show full text]
  • WWD Ad-Edit Template.Indt
    SOCIAL CALL PLUS: Fashion brands are Rating recognizing that men are different than women when it Berlusconi’s comes to shopping and Style. social media. PAGE MW1 page MW4 A new fashion Take As Profits Climb, Target Tweaks Mix By Sharon Edelson MINNEAPOLIS — Change is in the air at Target Corp. First, the retailer has several key executive posi- tions to fill. In October, its top marketing executive, Michael Francis, left to join J.C. Penney Co. Inc. as ■ ■ ThursDAY, NOVEMBER 17, 2011 Women’s Wear Daily $3.00 president. Target also is searching for a president WwD for target.com to succeed Steve Eastman, who left in October after the Web site crashed for the second time. Douglas Scovanner, Target’s longtime execu- tive vice president and chief financial officer, said he will retire in March and the retailer recently parted ways with its longtime advertising agency, Peterson Milla Hooks. Despite the turmoil, Gregg Steinhafel, chairman, president and chief executive officer, minimized the impact of the changes. “We have a very deep and talented bench,” he told analysts Wednesday during Target’s third-quarter earnings call. “We will very shortly be naming a leader for the [online] team,” al- though he declined to address the time frame for the marketing hire. The management changes come as Target has a full plate of initiatives, including the launch next year of smaller urban City Target units ranging in size from 60,000 square feet to 100,000 square feet, roughly half the size of a typical Target unit. City Target loca- tions will include Seattle, San Francisco, Los Angeles, Chicago, Boston, New York, Philadelphia, Miami and the Washington, D.C., area.
    [Show full text]
  • Project Description A. PROJECT IDENTIFICATION
    Chapter 1: Project Description A. PROJECT IDENTIFICATION The City of New York Department of Parks and Recreation (DPR), in coordination with USTA National Tennis Center, Incorporated (USTA)1, is seeking a number of discretionary actions in connection with proposed improvements and an expansion to the facilities at the USTA Billie Jean King National Tennis Center (NTC), located in Flushing Meadows Corona Park in Queens (see Figure 1-1). These improvements collectively are known as the NTC Strategic Vision (the proposed project). The NTC is located on a portion of Queens Block 2018, Lot 1, on park land leased by DPR to USTA. The leased site is bounded to the north by the railway tracks of the Long Island Rail Road (LIRR)’s Port Washington line; United Nations Avenue North to the south; the Passerelle Building (connects LIRR’s Mets-Willets Point station to the Metropolitan Transportation Authority (MTA)’s 7 train station, and Citi Field, the New York Mets baseball stadium) and Path of the Americas to the east2; and Grand Central Parkway to the west.3 The 42-acre NTC is one of the world’s largest public recreational tennis facilities. For 11 months of the year, its facilities are open to the public for indoor and outdoor tennis; USTA maintains the facilities year-round. The NTC is also host to the US Open, one of the sport’s four Grand Slam championship tennis tournaments. The event is staged during a two-week period around the beginning of September, is attended by approximately 700,000 spectators, and is broadcast worldwide.
    [Show full text]
  • Celebrating Eighty Years of Public Higher Education in the Bronx
    Lehman TODAY SPRING 2011 Celebrating Eighty Years of Public Higher Education in the Bronx The Courage to Step Forward The President’s Report, 2010 The Magazine of Lehman College For Alumni and Friends Spring 2011 • Vol. 4, No. 1 Contents Features The Courage to Step Forward 11 • Coming Out of the Shadows 12 • Making a Difference 14 • Speaking for the Victims 16 22 Of Injustice 11 Photo by Roy Wright • Stranded in Chile 19 Chronicles of the Pioneers of ‘31 20 Departments Celebrating Eighty Years of Public 22 2 Campus Walk Higher Education in the Bronx 5 Sports News Spotlight on Alumni 27-30 20 6 Bookshelf Marsha Ellis Jones (‘71), Douglas Henderson, Jr. (‘69), Mary Finnegan Cabezas (‘72), Angel Hernández (‘09), 8 Development News María Caba (‘95), and a Message from the Alumni 31 Alumni Notes Relations Director Plus: The President’s Report, 2011 35-40 27 On the Cover: The many lights and activities of the Music Building—one of the original campus buildings, known fi rst as Student Hall—symbolize the learning that has taken place here for eighty years. Photo by Jason Green. Lehman Today is produced by the Lehman College Offi ce of Media Relations and Publications, 250 Bedford Park Blvd. West, Bronx, NY 10468. Staff for this issue: Marge Rice, editor; Keisha-Gaye Anderson, Lisandra Merentis, Yeara Milton, Nancy Novick, Norma Strauss, Joseph Tirella, and Phyllis Yip. Freelance writer: Anne Perryman. Opinions expressed in this publication may not necessarily refl ect those of the Lehman College or City University of New York faculty and administration.
    [Show full text]
  • Tennis Magazine 2021 Media
    the perfect match 2021 media kit Tennis Media Connecting Tennis With Fans Channel On All Platforms Tennis .Com Tennis Channel Plus— OTT Tennis Tennis Channel Magazine APP Social SBGTV Television Stations Tennis Magazine is the premier print provider of tennis lifestyle and professional tour- nament coverage. Appealing to both the fan and the player, the sport’s longest published and most infl uencial magazine off ers a comprehensive and authoritative look at one of the nation’s most popular sports across all aspects of the game. From the latest pro game and player news to health, fi tness, nutrition, lifestyle, travel and gear; Tennis Magazine covers it all while targeting the most passionate and engaged fans. MARCH / APRIL 2018 tennis.com TCM.Cover.091819a.indd 4 9/18/19 12:30 PM Tennis Magazine’s Audience: Well-Rounded Beyond the Court Rate Base: 400,000 Total Audience: 1,100,000 Demographics: Adults 25-54: 70.4% Median Age: 42 Married/Dual Decision Makers: 88% Passionate Tennis Players Played in Past Year Tennis Magazine 50.4% + 199% Above Average Average Affl uent A18+ 16.9% Median HHI: $193,500 Net Worth: $1,602,200 Median HHI $150k+: 75% College Education: Some college or more = 96% C-Level: +201% above average Top Management: +74% above average SOURCES: 2020 IPSOS Affl uent Survey USA Tennis Magazine TennisTennis MagazMagazininee 20202020 RatesRates Tennis Magazine 2020 Rates 2021 Rates NatioNaNationtioalnn Ralalate RRateates (Gss ro((GGssroro)ssss)) National Rates (Gross) 4/C4/C4/C 1X1X1X 4/C 1X FullFul FulFPgulll PgPgPg$40,$40,$40,000000000
    [Show full text]
  • New York™S New Business Boom
    - March 2013 New York’s New Business Boom Data - March 2013 New York’s New Business Boom Nearly twice as many new businesses were started in the five boroughs in 2011 than in 1991, and the lion’s share were started outside of Manhattan. by Adam Forman, Matthew Claro and Jonathan Bowles Click here to download this brief as a PDF. Much attention has been paid to the dramatic growth in tech startups in New York City over the past five years. But the amazing rise of Silicon Alley represents just one part of an incredible 20-year explosion in new entrepreneurial ventures in the five boroughs. In fact, nearly twice as many new businesses were incorporated in the city in 2011 than in 1991—and, interestingly, the fastest growth in startups over the past two decades has occurred outside of Manhattan. In 2011, an astounding 65,658 businesses filed incorporation papers in New York City, an 86 percent jump from 1991, when just 35,218 businesses opened their doors. Of all the boroughs, Manhattan boasts the largest number of startups incorporated in 2011 (22,756) and the most startups per capita (143 startups per 10,000 residents). However, the Bronx experienced the fastest growth over the past two decades (a 305 percent increase) while Brooklyn was the only borough to see a spike in new business incorporations in the post-recession period of 2007 to 2011. Center for an Urban Future The following are some key findings from our analysis, which is based on a review of data from the New York State Department of State showing the number of new business incorporations every year between 1991 and 2011: In 1991, 35,218 new businesses filed incorporation papers in New York City.
    [Show full text]
  • Clarendon School Leaders Preparing to Share Services
    White House’s top lawyer is leaving THURSDAY, AUGUST 30, 2018 75 CENTS Trump praises McGahn, who has played key role in many issues SERVING SOUTH CAROLINA SINCE OCTOBER 15, 1894 BY KEN THOMAS and ZEKE MILLER Wednesday. had nothing to do with his inter- McGahn’s exit continues the views with the special counsel in- 3 SECTIONS, 22 PAGES | VOL. 123, NO. 224 The Associated Press churn of top officials as the admin- vestigating possible Trump cam- WASHINGTON — White House istration sets records for turnover paign collusion with Russia in the IN TODAY’S EDITION Counsel Don McGahn, a conse- and the White House struggles to 2016 election. quential insider in President Don- fill key vacancies. Pressed by reporters, Trump ald Trump’s legal storms and suc- Unlike some less-amiable separa- said he had approved the attor- cesses and a key figure in the ad- tions, however, Trump praised Mc- ney’s interviews and was uncon- ministration’s handling of the Rus- Gahn as “a really good guy” who cerned about anything McGahn sia investigation, will be leaving in has done “an excellent job.” the fall, the president announced Trump said McGahn’s departure SEE McGAHN, PAGE A6 LABOR From 8 felonies to successful Sumter DAY 2018 BAIL BONDSMAN ‘I use what I know to help people along the way. All I ask is you show up to court.’ Kudos to those who work hard to better their communities Women in the workplace, reducing stress and more C1 TECHNOLOGY Streaming service offerings keep growing B6 DEATHS, B4 Darwin Wilbern Baird Frances Elizabeth Corbett Baird George Weston Witherspoon Bernard L.
    [Show full text]