20110124-NEWS--0001-NAT-CCI-CN_-- 1/21/2011 8:16 PM Page 1
INSIDE WHERE TOP STORIES THE Kenneth Cole JOB$ struggles to fit in with consumers ® ARE PAGE 2 PHOTO ESSAY, PAGE 12 MTV too hot VOL. XXVII, NO. 4 WWW.CRAINSNEWYORK.COM JAN. 24-30, 2011 PRICE: $3.00 for its own good? PAGE 3 Property auctions hammered in NY PAGE 2 Brunch fever knows no bounds; lines form in Bushwick PAGE 3 HSBC offers a preview of what U.S. banks will look like in the future IN THE MARKETS, PAGE 4 BUSINESS LIVES RON VS. DON GOTHAM GIGS FOR DECADES, RONALD PERELMAN AND HIS BUSINESS PARTNER Donald Drapkin were pretty much Channeling Eloise at He sued. He countersued. inseparable.¶ Their workdays began with breakfast at Mr.Perelman’s palatial East Side town- The Plaza P. 21 He counter-countersued. house. For lunch, they held court at the place they jokingly called their “cafeteria”—Le ● ANNE FISHER on a new Cirque.Frequently,this was followed by a nighttime charity gala or business dinner with New matchmaker for Inside the painful breakup York’s and Hollywood’s elite. ¶ They shared important family occasions, such as Mr. Perel- nonprofits P. 21 man’s bachelor party at La Côte Basque before he married gossip columnist Claudia Cohen, and the bat mitzvah for Mr. Drapkin’s daughter at The Pierre hotel, during which Mr. Perel- ● MOVERS & SHAKERS of M&A duo Ron Perelman Mamma Mia! man played drums with the band, Kool & The Gang. ¶ The two shared an almost frat-boy- creator like camaraderie. Mr. Drapkin playfully called diminutive and balding Mr. Perelman “the celebrates 10 years P .. 22 and Don Drapkin Dwarf ” or “the Putz.” Mr. Perelman shot right back, calling his partner “the Asshole.” ● GAEL GREENE pigs out BY AR ARA ON ELSTEIN See RON VS. DON on Page 17 on upper Broadway P .. 23
INDEX Mayor looks to Albany for help REAL ESTATE DEALS PLUS ______7 THE INSIDER ______8 His bold strategy to slow spiraling pension And how. The mayor in his NEIGHBORHOOD JOURNAL ______9 speech advanced proposals to elim- inate seniority rules for teachers SMALL BUSINESS ______9 and health costs? Ride Cuomo’s coattails and establish a new pension tier for FOR THE RECORD ______15 deliver his annual State of the City teachers and other non-uniformed CLASSIFIEDS ______18 BY DANIEL MASSEY address, United Federation of public workers that would lift the EXECUTIVE MOVES ______21 Teachers President Michael Mul- retirement age to 65 from the cur- RÉSUMÉ REVIEW ______22 ABOUT FIVE MINUTES before Mayor grew’s BlackBerry rang out in the rent 55 or 57. He suggested barring
THE WEEK AHEAD ______23 Michael Bloomberg walked onto a audience. A City Hall official was raises for city workers unless they stage in Staten Island last week to on the other end of the line. are tied to cost savings elsewhere, “I guess the mayor realized there reforming century-old civil service
might be problems with what he rules and making pension benefits newscom was about to say about my mem- negotiable via collective bargain- PARTWAY THERE: Mayor Michael Bloomberg bers,” Mr. Mulgrew said. See BLOOMBERG on Page 20 has the ear of Senate Republicans. ELECTRONIC EDITION NY AREA’S LARGEST EXECUTIVE RECRUITING FIRMS P. 14 NEWSPAPER 20110124-NEWS--0002,0003-NAT-CCI-CN_-- 1/21/2011 8:18 PM Page 1
IN BRIEF Kenneth Cole downsizes RAFAEL CESTERO WILL LEAVE HIS POST AS COMMISSIONER OF THE CITY’S DEPARTMENT of Housing Preservation and Development at the end of March to join L+M Development for better fit with consumers Partners as a managing director. He will assist the firm, which builds affordable housing, in expanding its business outside of the New York FASHION BIZ: Kenneth area, focusing on the West Coast, New Jersey and Rock Center closure Cole remains on the creative the Gulf. In his nearly two years at HPD, Mr. side, while Jill Granoff Cestero has been credited with helping the city just one turnaround oversees operations. meet its ambitious affordable-housing goals and embarking on an effort to rescue overleveraged step, but company may properties across the city. Mayor Michael be a takeover target He remains executive Bloomberg said Mr. Cestero had launched “the chairman and chief most aggressive foreclosure prevention program creative officer. in the nation,” creating a $750 million initiative BY ADRIANNE PASQUARELLI Operational blun- to stabilize distressed multifamily properties ders over the past and transforming the process for inspecting and NEW YORKERS LOOKING to pick something decade have led shop- addressing troubled buildings. up at the Kenneth Cole shop in Rocke- pers to turn away from feller Center will now have to go else- the company, which LUCKY BRAND JEANS SHUTTERED ITS where. The 17,000-square-foot flagship includes the signature COLUMBUS AVENUE STORE LAST WEEK. THE closed last week—part of an overhaul that Kenneth Cole New closure of the shop, at West 70th Street, may be includes shuttering roughly 15% of the York and mass-appeal the result of negative sales at struggling parent Manhattan-based company’s full-price Kenneth Cole Reac- company Liz Claiborne Inc. Earlier this stores. tion lines. One mis- month, the clothier, whose brands include Kate Kenneth Cole Production Inc., a pur- take was removing the Spade and Juicy Couture, reported fourth- veyor of contemporary apparel, footwear former from depart- quarter sales that were “clearly disappointing,” and accessories, has been struggling for ment stores to sell ex- according to Liz Chief Executive William years with fewer customers and too many clusively at its own McComb. Lucky’s same-store sales were down locations. The recent moves are part of a shops, which the 10% in the period, including a 13% drop in long-term strategy to turn the company company continued December alone, the most important month of around. to add. the holiday shopping season.The denim brand Under the three-year tenure of Chief has five remaining stores in Manhattan, three Executive Jill Granoff, the $410 million Bungled branding of which are in SoHo. Ⅲ firm has been righting fashion missteps THE COMPANY confused that alienated customers, mitigating hikes consumers further by in production costs and slashing real estate launching several BY THE NUMBERS expenses. Investors are still wary, however. other divisions, in- Kenneth Cole’s stock, currently trading cluding accessories
Weekly shift of the city’s economy near $12.65, has risen only 12% over the and Unlisted, a low-
past 12 months.That’s less than half of the newscom priced leather goods SIDETRACKED LOCOMOTIVES It’s one thing increase in the Standard & Poor’s retail in- label. when Citigroup’s earnings fall short, as they did dex in the same period and a long way from “Their message got diluted, and the last week. It’s another when Goldman Sachs Their message and American Express also disappoint. the $45 a share seen in the company’s hey- distinction between the different brands day in 2000. The restructuring and low got diluted, as did got blurred,” said Jeff Edelman, director of share price have made the company a retail and consumer products advisory at 33 487 $600M takeover target, according to sources. the distinction RSM McGladrey. MEDIAN AGE of NUMBER AMOUNT Ms. Granoff, a Long Island native who a Conan watcher, of foreclosures Netflix spends on “Taking the right steps” had spent nearly two years overseeing Liz versus 56 for in NYC in 4Q, postage each between labels Tonight Show down 32% from year “[KENNETH COLE] is taking the right steps Claiborne Inc.’s Juicy Couture and Lucky With Jay Leno a year earlier Source: Netflix CEO for a turnaround,” said Steven Marotta, a brands, took on a hefty to-do list when she Source: The Source: Property Reed Hastings, retail analyst at CL King.“But there are so joined Kenneth Cole, but analysts say she Nielsen Co. Shark on Quora many issues and so many moving parts that has been taking appropriate action,includ- it’s not something that can be done on a ing reducing corporate headcount by 20%. MORE WORK FOR ALL The ranks of NYC’s jobless have dime.” brand in 1982 and built it from humble be- After spending two years in the red, Ken- been shrinking for over a year. The unemployment rate was down 1.6 percentage in December from a year earlier. Mr. Cole, who is married to Gov. An- ginnings—he initially sold shoes from the neth Cole has been profitable for the past drew Cuomo’s sister Maria, founded the back of a truck—into a retail powerhouse. See COLE DOWNSIZES on Page 20 12%
11% 8.9% 10% Will city see more condominium a 9%
8% ’09 ’10 D J F M A M J J A S O N D Owners are hanging Despite the obvious Gollinger, founder of Source: NYS Department of Labor appeal to buyers of hav- Accelerated Marketing on to properties as ing all or most of a build- Partners, a consulting ADDICTED TO NUMBERS? housing prices stabilize ing’s units go under the firm specializing in auc- GET A DAILY DOSE AT @STATSANDTHECITY gavel, the city’s land- tions. Instead, he’s come lords—including close on four occasions, CORRECTIONS AND CLARIFICATIONS BY AMANDA FUNG banks—are going to only to have the sales great lengths to avoid called off.Meanwhile,his The name of actress Elly Berke, who performs at the Tenement NEXT MONTH Museum, was misspelled in the Jan. 17 “Gotham Gigs” column. ,bargain hunters will gather at auctions. That’s why business elsewhere has the Roosevelt Hotel in midtown for a there have been just three boomed.In the past three Administaff is a human resources consulting firm. The company’s business was not clearly described in the Jan. 17 “Small chance to bid on 26 luxury apartments at auctions in New York SALE: At the New Amsterdam Condominium, years, he has conducted Business” column. the New Amsterdam Condominium in City and only one in 26 luxury apartments will be auctioned. 37 auctions for high-rise Washington Heights and 25 condos at Manhattan since the real luxury condo develop- vol. xxvii, no. 4, january 24, 2011—Crain’s New York Business (issn East River Tower in Astoria, Queens—at estate market crashed in ments in Boston, 8756-789x) is published weekly, except for double issues the weeks of July Fourth, Labor Day and Christmas, by Crain Communications discounts of up to 63%. 2008. And with housing prices now stabi- Philadelphia, Atlanta and elsewhere. Inc., 711 Third Ave., New York, NY 10017. Periodicals postage paid at As appealing as that sounds and as pop- lizing and even rising in some parts of the Many credit the absence of auctions to New York, N.Y., and additional mailing offices. Postmaster: Send ular as such sales have been in many other city, most of those owners are increasingly the relative strength of the city’s residential address changes to: Crain’s New York Business, Circulation Depart- ment, 1155 Gratiot Avenue, Detroit, MI 48207-2912. for subscriber cities, the fact is that such auctions are ex- likely to hang on. market, which managed to skirt the service: Call (888) 909-9111. Fax (313) 446-6777.$3.00 a copy, $59.79 ceedingly rare in New York. And contrary precipice that markets in places like Flori- one year, $109.79 two years. (GST No. 13676-0444-RT) Close, but no auction ©Entire contents copyright 2011 by Crain Communications Inc. to widespread predictions at the height of da, California and Nevada tumbled over. All rights reserved. the foreclosure crisis, they are likely to stay “I WOULD HAVE EXPECTED to do three to In Manhattan, the median sales price that way. four auctions in New York,” said Jon dropped 31% from the market peak to its
2 | Crain’s New York Business | January 24, 2011 20110124-NEWS--0002,0003-NAT-CCI-CN_-- 1/21/2011 8:18 PM Page 2
KIDS AREN’T ALL RIGHT: MTV’s newest show set a launch record with its premiere on Jan. 17. City is brunch champ Big Apple is capital of (relatively cheap) weekend meal
BY LISA FICKENSCHER
EVERYONE KNOWS New Yorkers love their eggs Benedict, bagels and lox, and, of course, their Bloody Marys, which makes brunch unusually pop- ular here. Not until now, however, has there been statistical proof that New Yorkers are the country’s most brunch-adoring citizens and that their devotion is growing. According to research provided to Crain’s by Google, over the past 12 months, New Yorkers have made 35% more searches per capita for “brunch spots” than residents of any other metro area.Google also report- ed that the number of searches by MTV gets New Yorkers rose 10% in that period. Evidence of the interest can be seen across the city,from such trendy destinations as Sarabeth’s on the Upper West Side to humbler eater- ies in less mainstream neighbor- groove back hoods. Among the latter is Life Café 983,a spot in an industrial section of Breakout series boost ratings and ad revenues, Bushwick, Brooklyn, whose neigh- bors are warehouses and auto-part but Skins creates furor over teen sex, drug use shops. Nonetheless, the café does a bang-up brunch business. After several years in which MTV’s ratings “We are probably up 20% in sales BY MATTHEW FLAMM declined and Viacom became known as the com- this year,” said manager Andy Mills. pany that lost out on buying MySpace,envelope- Ten to 15 people are usually outside MAYBE THERE’S SUCH A THING as too much buzz. pushing shows like reality hit Jersey Shore, Teen waiting for a table on even the cold- But assuming that nobody at MTV is brought up Mom and Skins have put MTV back into the est Saturdays and Sundays,he added. on child pornography charges over its controver- youth culture conversation.Its target audience of sial new series, Skins—which features underage 18- to 34-year-olds grew by 39% in prime time Strength in weakness actors engaged in drug use and sex—this is a in the fourth quarter, to an average of 500,000, SARABETH LEVINE,founder and part- good time for parent company Viacom and its according to Nielsen. IN THE EYE OF BEHOLDER: Reality shows like Teen Mom ner of the popular Sarabeth’s restau- signature network. See MTV on Page 20 (top) and Jersey Shore have pushed the boundaries of taste. rants, attributed the surge to the weak economy. “Brunch is a nice way to indulge yourself but not spend a lot of mon- tressed properties at deep discounts and are ey,” she said. Brunch sales volume is looking for quick ways to convert the unsold up 10% in the last year at the three m auctions? Don’t bid on it units to cash. freestanding Sarabeth’s in New York. “We’re actively talking to people in the bor- Blogger Trevor Leb, who found- oughs,” said Max Spann Jr., president of Max ed Iheartbrunch.com two years ago, low point in early 2009 and has Harlem developer, is consider- Spann Real Estate & Auction Co., which said the affordability factor has led been stabilizing since last year, ing an auction for unsold units opened a New York office last month. Mean- to a miniboom in birthday celebra- according to appraisal firm at his new development but is while, Sheldon Good & Co., which is organiz- tions over brunch.“There are a lot of Miller Samuel Inc. That con- struggling with the benefits. ing the two events next month, recently moved economic advantages,” he said. trasts with some other cities, One issue is the upfront cost of its headquarters here. And Paramount Realty For instance, Mr. Leb noted, where the median sale price fell marketing an auction event, an USA, which held the first and only condo auc- some restaurants offer two free bev- more than 70% and has yet to expense Mr. Kliegerman says tion in Manhattan so far during this down mar- erages and an entrée for a total of stabilize. can run to about $5,000 an ket, expects to announce its next condo auction $20.That’s a good deal if patrons are The strength of the New apartment. by the end of next month. enjoying one of the alcohol-based York market has also made BARGAINS: East River Tower condos will Two years ago, Sheldon Good held a success- brunch favorites: screwdrivers, banks less quick to foreclose on be discounted as much as 63%. Flop in the Bronx ful auction for a 16-unit condo in Greenpoint. Bloody Marys and mimosas. troubled projects and develop- THE RESULTS OF the city’s But in that case, the goal was just four sales. Bucking that thrifty trend is the ers less likely to throw up their biggest auction, the sale of 54 Most experts predict that some auctions will Waldorf Astoria. Peacock Alley, the hands and call in the auctioneers. units at a new development in Riverdale in the take place at smaller developments outside of elegant restaurant and lounge just off “In general, most developers think that auc- Bronx,are not encouraging.Less than half of the Manhattan,in areas that experienced a construc- the main lobby, is one of the priciest tions taint their project,” said Stephen units actually sold in November 2009, even at tion boom. brunch options in the city—$95 a Kliegerman, executive director of development discounts that averaged 45%. More than a year “While the market here has stabilized, devel- head—yet the property can’t keep up marketing at Halstead Property. “Many have later, the developer is still selling units. opers still have inventory to sell and construction with demand. thought about it, but they have deep pockets to Auctioneers, however, insist they are not loans to pay off,” said Misha Haghani a princi- “Our Sunday brunch numbers carry the building and just end up renting their giving up on the Big Apple. Mr. Gollinger, for pal at Paramount Realty. “Condo auctions may have absolutely exploded,” said units.” example, is now pitching his services to equity not become mainstream here, but they will pick Matt Zolbe, the Waldorf ’s director One of Mr. Kliegerman’s clients, an East funds and others who are snapping up dis- up some momentum.” Ⅲ of sales and marketing. Ⅲ
January 24, 2011 | Crain’s New York Business | 3 20110124-NEWS--0004-NAT-CCI-CN_-- 1/21/2011 8:16 PM Page 1
More venture capital funding comes to NY area tech firms IN THE MARKETS by Aaron Elstein
Last year, about 350 CATCHING UP companies got a HSBC: few thrills, lots of interest total of $1.88 billion SBC IS one of the BY KIRA BINDRIM world’s largest banks, with $2.4 trillion in WHEN IT COMES TO funding tech H assets spread around 87 firms,New York is no Silicon Valley. countries. It’s a particularly But after closing out 2010 with al- most $1.9 billion in venture capital big player in Hong Kong and dollars, the city is closing in on sec- the rest of Asia, but it’s also a ond place. major force in the New York Some 350 New York area compa- nies received $1.88 billion in venture market, thanks to its Republic capital last year, putting the New Sources: PricewaterhouseCoopers, National Venture Capital Association acquisitions of York metro area third behind Silicon National Bank and Marine Valley, where 961 firms received Midland in the 1990s. $8.51 billion, and New England, strengthen as a key venture capital for media and entertainment com- HSBC’s New York City home where 387 firms received $2.54 bil- market,”said David Silverman,man- panies, totaling $107.7 million. As a stock, HSBC is lion, according to a report by Price- aging partner for PwC’s New York “These [sectors] have been a tra- nothing in particular to get waterhouseCoopers and the Nation- metro emerging-company practice. ditional strength for the New York excited about; it has risen an average of 1.9% per year over the al Venture Capital Association. venture-backed community, partic- Though it still trails the nation’s Strong sectors ularly as they relate to investments past 10 years, according to Bloomberg data. (You could’ve made biggest tech hubs, New York is on IN THE FOURTH QUARTER, 83 New in Internet advertising-based com- more money investing in a risk-free government bond.) Its the upswing.The metropolitan area York area companies received panies,” said Mr. Silverman. return on equity—a measure of how profitably management accounted for 9% of all venture cap- $512.7 million in venture capital AppNexus Inc., a Manhattan- ital dollars last year, up from just 6% dollars, an increase of 22% in deals based Internet marketing firm, deploys shareholder money—is posi- sition of subprime lender Household in 2007.Silicon Valley accounted for and 6% in funding over the fourth topped the list of funding recipients tively miserly, at 5.1%. In the glory International in 2003.It was a surpris- 39% of all dollars last year,compared quarter of 2009.The IT services sec- last quarter, netting $50 million days of last decade, the ROE for Citi- ing move—and the famously but- with 37% in 2007, but New Eng- tor led in funding; $137.9 million from VC firms that include First group was nearly 20%. toned-up bank paid dearly for it. land—led by hardware-focused went to 14 deals, followed by soft- Round Capital and Venrock Asso- But here’s something really in- The Household business con- Boston—has remained stagnant at ware with $115.1 million for 20 ciates. Other leading recipients in- teresting: When times got tough, tributed heavily to a $16 billion loss 12% since 2007. deals.Together, IT and software ac- cluded Internet marketer AdKeep- HSBC didn’t need to be bailed out at HSBC’s North American opera- “New York finished the year off counted for nearly half of all fourth- er Inc., which received $36 million, by U.S. taxpayers or even by those in tions in 2008, and the bank had to with a strong quarter,confirming the quarter funding dollars in the New and social networking firm Tumblr its native Britain. And by the way, raise $18 billion in new capital from view that the region continues to York area. There were also 17 deals Inc., which received $30 million. Ⅲ HSBC’s total shareholder return shareholders to plug the hole. over the past decade, 20%, is a Looking to rebuild its loan port- smidge higher than that of much- folio here, HSBC sees an opportu- lauded J.P. Morgan Chase & Co. nity to establish relationships with In short, HSBC is what U.S. New York area small businesses of banks like Citi or Bank of America all kinds that are keen to expand might look like in the future. Big? globally, Mr. Parker said. Yes. Global? Fine. Dull? Absolutely. How about a big acquisition to “Our business is based on careful expand HSBC’s local footprint? It lending and working to meet our currently has 117 branches and the customers’ needs,” said Ashley fifth-largest deposit share. Meet Parker, HSBC’s regional president Mr. Parker practically flinched. for New York City. “It sounds al- “No,”he said in an Australian twang. most quaint, doesn’t it?” “I don’t foresee that happening.” SENATOR Of course, HSBC has taken its After all, making a deal could be Skelos lumps. Its most notable troubles exciting. And exciting is something DATE: stemmed from its $16 billion acqui- HSBC doesn’t do. New York State Senator Dean Skelos will discuss how THURSDAY, Republicans will run the Senate now that they have FEBRUARY 10, 2011 recaptured the majority, whether New York can resolve BofA’s brokerage goes with the outflow its budget problems through cost cutting alone and TIME: the merger between Bank of Ameri- marily made up of the former Mer- how to resolve corruption in the Legislature . He will be 8:00-8:30 AM ca and Merrill Lynch happened more rill Lynch but also includes U.S. questioned by Crain’s political editor Erik Engquist and BREAKFAST than two years ago, but the broker- Trust and other units, has seen net Capital Tonight host Liz Benjamin. age operation that was key to the deal client outflows every quarter since 8:30-9:30 AM is still feeling the repercussions. the merger. A BofA spokeswoman PROGRAM Clients continue to yank money attributed the fourth-quarter de- COST TO ATTEND: out of Merrill, according to BofA’s cline to customer withdrawals from $70 for individual ticket(s) if pre-registered by February 3rd; $75 thereafter. VENUE: earnings report from last week. In money-market funds, which offer the fourth quarter of 2010, $2 bil- paltry yields nowadays. $650 for table(s) of ten if pre-registered by February 3rd; $750 thereafter. THE SHERATON NEW YORK lion in assets went out the door, The loss at BofA is strik- bringing the exodus for the year ing because Morgan Stanley to $25 billion. That’s a marked doesn’t seem to have the same improvement over 2009’s $93 problem following its 2009 To register, go to crainsnewyork.com and click on “Events”, or fax your business card and credit card information to billion in outflows, but it’s merger with Smith Barney. “Skelos Breakfast Forum” at 212-210-0499. For more information, call the Events Hotline at 212-210-0739. still not welcome news for Morgan Stanley picked You must be pre-registered to attend this event. No refunds permitted. BofA’s wealth management up $14 billion in net new chief, Sallie Krawcheck. assets last quarter and The wealth manage- $23 billion for all of ment division,which is pri- 2010. Ⅲ
THE AVERAGE PAY PER EMPLOYEE at Goldman Sachs for 2010, according to Bloomberg. That amounts to $430,700 a 14% decline from the previous year’s level.
4 | Crain’s New York Business | January 24, 2011 Project2:fp template.qxd 1/4/11 1:31 PM Page 1
Free business checking that also helps my business run smoothly. Talk about multitasking.
Get one year of free checking when you open a FREE CitiBusiness® checking account along with a cash BUSINESS management service that helps you pay employees CHECKING or accept credit card payments from customers. It’s how Citibank helps you take care of business.
Stop by a branch, call (877) 223-CITI or visit us at citibank.com/businesschecking
What’s your story? Citibank can help you write it.
Free business checking for a year refers to waived monthly maintenance fees for 12 months; monthly transaction allowances apply. Offer limited to new to bank CitiBusiness Streamlined or CitiBusiness Flexible Checking accounts opened between 01/08/11 and 03/31/11 when the customer also performs the following activities within 60 days of account opening: deposit at least $500 into the new business checking account, AND do one of the following: complete enrollment in Citi® Merchant Services, or CitiBusiness Payroll Manager, or Remote Check Deposit, or make 5 bill payments using CitiBusiness Online. Limit one offer per customer. Monthly maintenance fee waiver will begin one billing cycle after completion of required activities. Offer can be modifi ed or withdrawn at any time without notice, is not transferable and cannot be combined with any other offer. Existing business checking customers are not eligible. Speak to a Citibank Business Specialist for more details. Citi Merchant Services is provided by First Data Merchant Services. CitiBusiness Payroll Manager is provided directly by SurePayroll Inc., a third-party provider not affi liated with Citigroup Inc. Remote Check Deposit service requires purchase of remote check scanner. Restrictions apply. All accounts and services are subject to approval. Fees and conditions apply to certain products and services. Terms and conditions of accounts, products, programs and services are subject to change. © 2011 Citigroup Inc. Citibank, N.A. Member FDIC. CitiBusiness, Citi, Citibank and Citibank with Arc Design are registered service marks of Citigroup Inc. 20110124-NEWS--0006-NAT-CCI-CN_-- 1/21/2011 4:18 PM Page 1
WITH JUST $1,500... NEW YORK,NEW YORK edited by Valerie Block
Porter House for two, please OR THE PAST FIVE YEARS, Michael Lomonaco F(right) has lavished all his attention on Porter House, his big-ticket perch in the Time Warner YOU CAN INCREASE A Center. But Mr. Lomonaco is now ready to add two TEEN’S FUTURE EARNING more restaurants to his portfolio. The former Windows on the World chef is vetting POWER BY 15% locations here and abroad with his Porter House partner, Kenneth Himmel, chief executive of Related SUMMER JOBS PUT TEENS ON THE PATH TO SUCCESSFUL CAREERS. BUT IN 2010, OVER Urban, the Related Companies division that 108,000 TEENS WHO APPLIED FOR JOBS developed the Time Warner Center.The two expect to THROUGH THE CITY’S YOUTH EMPLOYMENT open a more casual eatery in New York later this PROGRAM HAD TO BE TURNED DOWN. year—most likely in a Related building—and are JOIN A GROWING LIST OF NYC’S BUSINESS LEADERS AND SUPPORT THE SUMMER looking at cities around the world for a second Porter YOUTH EMPLOYMENT PROGRAM TODAY. House. (Mr. Lomonaco is keen on Italy.) “I’m grateful that we weathered the downturn and newscom CONTACT THE MAYOR’S FUND TO ADVANCE that Porter House is at a point where we can take on other projects,” Mr. Lomonaco said. NEW YORK CITY TO LEARN HOW YOU AND YOUR BUSINESS CAN SPONSOR SUMMER JOBS He’s also taken on an outside gig: late last year, he was named consulting chef for Prime FOR MOTIVATED YOUTH. VISIT WWW.NYC.GOV Tavern, in the Delta Air Lines terminal at La Guardia. OR CALL 311 FOR MORE INFORMATION. their firm, BackTrack, to make event begins Feb. 17. Book publishers sure they don’t fall victim to Bernie Polyvore, a popular website without Borders? Madoff-style Ponzi schemes. where fashion fans can play virtual This month, the pair launched paper dolls by mixing and MAJOR BOOK PUBLISHERS who met NannyTrack, which will matching designer duds, launched recently with executives of investigate the personal and its Fashion Week challenge today. troubled Borders Group Inc. are professional backgrounds of Contestants must assemble a still mulling their choices: people who want to care for runway-worthy outfit by selecting exchange the money they’re owed New Yorkers’ kids. Each items from various designers and for an interest-bearing note search takes two weeks and Bergdorf. Ms. Fargo will sport the and help the chain get new involves unearthing court top look, with the winner at her financing, or turn that offer records, news archives and side. down and probably push other public sources of “They’re handing over the Borders into bankruptcy. information.The price: reins of the actual style of the “If they’re relying on a tidy $555 per outfit to our users,” said Katherine publishers to fund their debt, I search. Other Crane, advertising director at don’t see it,” said an executive at shops offer Los Angeles-based Polyvore, one of the houses, who is similar which makes most of its money UPCOMING FEATURES IN CRAIN’S skeptical of Borders’ ability to services, but from designer advertising. She turn its business around. the expects more than 1,500 entrants Another said a deal could partners in the weeklong challenge. happen, pointing out that insist that The number of such contests Every week, Crain's dives deep into a specific Borders has plenty of money- istockphoto their is growing rapidly in the Big industry that drives the New York economy. making stores. A prepackaged searches will be Apple. Polyvore users vied to bankruptcy would allow it to close the most comprehensive and design Bergdorf ’s holiday Get the inside story — in print and online at unprofitable outlets and effective. windows last year, and the crainsnewyork.com. restructure debt. “It’s in everyone’s The goal is to turn what is company is currently interest for a significant number often an emotional decision into collaborating with New York of Borders stores to go forward,” an objective one. “You might have designer Rebecca Minkoff on a Finance Jan 31 he said. great rapport with a prospective handbag Experts estimate Borders has nanny, but you really need to look competition. Top M&A Deals List an 8% share of the retail book at how the nitty-gritty checks market—big enough that the out,” Ms. Drucker said. Contributors: Aaron prospect of liquidation makes Though it’s tough to find Elstein, Lisa Fick- Small Business Feb 7 publishers shudder. Still, the worst reliable data in Third World enscher, Matthew of the damage to them could be countries, where many would-be Flamm, Adrianne Real Estate Feb 14 short term, as e-book sales are child-care workers come from, the Pasquarelli skyrocketing. partners said they have contacts in Top Office Leases List A Borders spokeswoman “most jurisdictions.” would say only that the company is “focused on refinancing.” Accounting Feb 21 Game day for Top Tax Accountants List virtual designers Getting the dirt on nannies DRESSING TO THE NINES for New York Fashion Week is a must, so WALL STREET PRIVATE EYES Leah Bergdorf Goodman Fashion For advertising information, please contact Trish Henry, Clarkson and Casey Drucker wade Director Linda Fargo (right) is Advertising Director at [email protected] or 212.210.0711. through mountains of documents taking a big risk in letting the to compile dossiers about hedge masses choose what she’ll wear to fund managers for clients who use one of the shows.The eight-day
6 | Crain’s New York Business | January 24, 2011 20110124-NEWS--0007-NAT-CCI-CN_-- 1/21/2011 11:56 AM Page 1
REAL ESTATE DEALS PLUS
Medical group grabs square feet of ground-floor space and a 600-square-foot basement. OFFSHORE Drowsy retail MetroTech spot Asking rent was $110 a square foot. APPEAL A café is expected to open there CENTRAL BROOKLYN MEDICAL GROUP by April, shortly before the debut of Manhattan commercial property condo market is consolidating back-office and ad- its flagship at 137 Seventh Ave. sales in 2010 ministrative operations into one “They liked this space so much space on the ninth floor at 1 MetroTech that they decided to open a satellite shows some life Center in downtown Brooklyn. store even before they finished their The private medical group,which flagship,” said Steve Rappaport, a does business under the name Pre- broker with Sinvin Real Estate who $882M ETAIL CONDOMINIUM SALES are picking up ferred Health Partners, has agreed to represented both Landbrot and Value of property purchased by foreign buyers slightly from activity levels plumbed during the sublease 37,500 square feet from J.P. landlord S&H Equities. Morgan Chase for 14 years. The company plans to introduce downturn, but buyers remain price-sensitive. Asking rent was $32 a square its concept throughout the Northeast. Last week, the ground-floor retail space at the foot,according to sources.“The rent —adrianne pasquarelli Apthorp, on the Upper West Side, sold to William was competitive,”said Dennis Price, chief financial officer for the tenant. 12% Friedland Co. for $37 million, or $2,500 a square foot. And Trio takes bundle Portion of total sales accounted R He said the business would be mov- for by foreign buyers Beck Street Capital announced in December that it had sold ing by the end of February. of Greenpoint space its Bleecker Street retail portfolio for $34 million, roughly “We needed space that was near Source: CB Richard Ellis $6,700 a square foot. our nine different Brooklyn medical WHAT DO A PRODUCE DISTRIBUTOR,a centers,” said Mr. Price. book deliverer and a kitchen cabinet “We’re seeing an uptick in retail condo transactions, The tenant was represented by importer have in common? All three tor Deluxe Delivery System leased particularly in good locations,” said Kevin Comer, senior William Jordan of CB Richard El- recently signed leases in Green- 40,000 square feet for five years. managing director at Beck Street. lis, who also declined to comment. point, Brooklyn. Deluxe, which was represented Because they are such lucrative assets for landlords, retail Jones Lang LaSalle negotiated on In one of the deals, L&J Produce by Warren Baymond and Ranee behalf of J.P.Morgan Chase. agreed to a five-year lease for 40,000 Jaber of DY Realty, is paying $9.30 condos in high-end spots are rarely for sale. Mr. Comer said —amanda fung square feet at 211 Lombardy St., near a square foot. Beck Street sold the portfolio only because it was held in a Newtown Creek. The asking rent Mr.Rufrano again negotiated for partnership agreement that was ending. was $15 a square foot, but L&J got Whitehead in the Deluxe transac- German breadmaker the space for less than $10 a square tion and in an agreement at 60 Even a little bounce might help have balked at the price—reported- rises in Manhattan foot, according to Fred Rufrano of Anthony St., where Lee’s Kitchen investors who, led by the Washing- ly $600 million to $700 million. Kalmon Dolgin Affiliates, who rep- Cabinets & Stone signed a five-year ton-based Carlyle Group, have been Downtown,a landlord put a retail LANDBROT, a high-end bread pur- resented the landlord, Whitehead lease for 32,500 square feet. The trying to sell a retail condo at 666 condo at 157 Chambers St., between veyor named for a traditional loaf Co. Linda Wong of Kalmon Dolgin asking rent was $12 a square foot but Fifth Ave. for almost a year. Though Greenwich and Hudson streets, on from northern Germany, plans to negotiated for the tenant. the tenant—also represented by Mr. the property, between West 52nd the market for $7 million six months open the first of two Manhattan lo- L&J plans to begin operations Rufrano—settled the deal for less and West 53rd streets,is on the city’s ago. No takers there, either. cations at 185 Orchard St. The com- there at the end of January. At the than $9 a square foot. costliest retail strip, potential buyers —marine cole pany inked a 10-year deal for 800 same address, schoolbook distribu- —marine cole There’s plenty of room for furniture retailers
plenty of room for more. as lucrative as expected for furniture New stores arrive “Manhattan and the boroughs sales, a sales associate said. LILLIAN AUGUST sells luxury items. NADEAU is a lower-priced retailer. as modest recovery are under-stored, and customers are But now,signs of a modest recov- having to go out to the tristate re- ery are emerging. Sales at furniture takes hold in city, gion and suburban areas to shop, so and home furnishings stores in- residential sales rise now [furniture retailers] are coming creased to $82.3 billion for the first to the city,” said Robin Abrams, a 11 months of 2010,a 2.2% rise com- Lansco Corp. executive vice presi- pared with the year-earlier period, BY ADRIANNE PASQUARELLI dent currently working with other according to estimates from the U.S. home furnishers looking to enter the Department of Commerce. Furni- A NEW SET OF FURNITURE SELLERS is market. ture Today estimates the sector will coming to town. Capitalizing on see a sales increase of between 3% cheap commercial rents and rising Casualties of the recession and 5% in 2011. real estate sales among home-buy- THE HOME SECTOR got hammered “Things were so bad for so long HOME GOODS offers discounted merchandise. ARHAUS buys most of its wares from craftsmen. ing New Yorkers, several national during the recession—Americans that these small gains are like gifts retailers are choosing to invade the weren’t buying new houses, so de- from God,”said Ray Allegrazza,ed- der $10,while furniture pieces could stores T.J. Maxx and Marshalls. All Big Apple now. mand for home goods from couch- itor in chief of Furniture Today. be as much as $800.The West Coast of its merchandise is overstock from While housing sales in the rest of es to light fixtures plunged. Last Arhaus, one of the firms moving chain, which will have 16 locations full-priced chains and designers, the country remain sluggish, the March, for example, U.S. sales in in, recently signed on for a 30,000- when its East 11th Street store sold at discounts of as much as 60% New York market is firming up.The just the housewares industry fell square-foot store in the meatpacking opens this month, buys preassem- off department store prices. number of residential sales transac- 10% to $1.98 billion, compared district.The 25-year-old, midpriced bled products primarily from India. Even luxury shops are making an tions in Manhattan jumped 20% in with the year-earlier period, ac- retailer buys the bulk of its wares— The company is hoping its “Come in entry. Lillian August, headquartered 2010 compared with 2009, hitting cording to market research firm including dining room tables rang- and carry out” mantra will appeal to in Norwalk, Conn., sells sofas that roughly 12,900 units, according to NPD Group Inc. ing in price from $900 to $3,000— New Yorkers who won’t have to can cost as much as $15,000. The The Corcoran Group. Gracious Home and Jennifer domestically. Many items are made worry about shipping fees or assem- firm,which recently opened a store in Taking advantage of such favor- Convertibles were both forced into by Amish craftsmen in Ohio. bly wait times. the former Sam Flax site on West able conditions, several established bankruptcy due to sales declines last “We work with small manufac- 20th Street, had been eyeing the Big chains have recently signed on to year—though both are still operat- turers to have things made just for Strategies for selling Apple market for a decade. It finally open their first locations here. The ing. Door Store Furniture filed for us,” said Chief Executive John “WHAT YOU SEE IS WHAT YOU GET. If found the right spot at the right price. newcomers include Cleveland- Chapter 11 in the spring of 2009. Reed. He notes that 2010 same- you like a blue chair on the floor, “We finally found what was the based Arhaus Furniture; Nadeau The 60-year-old company has since store sales are up by double-digit that’s the one you’re taking home,” appropriate size and location, and Corp., a West Coast-based seller of emerged from bankruptcy,retaining percentages.The firm will open four said Shay Collazo, the Manhattan the economics were such that al- eclectic furnishings; and discounter its three Manhattan outposts. Oth- stores nationally next year, in addi- store manager. lowed us to move in,” said John Home Goods, a division of TJX er stores closed altogether. Most re- tion to the Manhattan shop, its Home Goods, which is opening Weiss,chief operating officer.“Gen- Cos. Certainly, the stores face com- cently,Huffman Koos closed its sole 38th, which debuts in April. a 26,000-square-foot store on the erally, home furnishings retailers petitors, such as West Elm and Bo- Manhattan showroom on West Nadeau, a lower-priced retailer, Upper West Side this year, follows a can’t afford the high rents that some Concept, but brokers said there is 23rd Street because the area wasn’t sells some home accessories for un- strategy similar to that of sister Manhattan locations demand.” Ⅲ
January 24, 2011 | Crain’s New York Business | 7 20110124-NEWS--0008-NAT-CCI-CN_-- 1/21/2011 7:45 PM Page 1
from Washington. But New York’s congressional delegation burned much of its political capital to win CHANCELLOR Black and blue THE INSIDER passage of a bill to pay for Sept. 11 SCHOOLS CHANCELLOR Cathleen Black and Mayor Michael Bloomberg’s workers’ medical costs. Insiders announcement last week that they would devote funding to help students by Erik Engquist and Jeremy Smerd suspect getting billions more for a who flunked the recalibrated state tests was not sufficient to repair Ms. Medicaid overhaul would be a Black’s image, according to experts in political communications and heavy lift. marketing. They said the chancellor is in danger of being identified by two New York could argue that the unscripted comments—her joking request for birth control to help reduce changes would ultimately save school overcrowding and a remark that budget cuts are “Sophie’s choices,” a federal money, and that the $4.2 reference to a film where a mother must choose which of her children will die billion Sept. 11 bill was paid for by in a Nazi concentration camp. Cuomo faces tax increases. A Medicaid waiver “She needs a makeover,” said one consultant with experience in crisis could allow it to move into management. “It’s more than one quip that went flat. It suggests a managed care its most expensive nervousness and a lack of comfort in dealing with media scrutiny of this kind, patients—such as 148,000 fee-for- Medicaid hurdles and a bit of tone deafness for the electorate.” service enrollees with chronic The comments seemed to legitimize a criticism of Ms. Black that went conditions or HIV/AIDS who ran beyond her lack of education credentials—namely, that she has “such a O HELP CLOSE up a $6.9 billion tab in 2009. the state’s budget deficit of corporate mentality” and would struggle with public discourse, the expert said. 10 Andrew Cuomo But the largest hurdle for Mr. approximately $ billion, Gov. will Cuomo is time:There isn’t enough Another political consultant said, “She needs to positively distinguish need to cut Medicaid spending by several billion time to achieve meaningful savings herself with something, or she’ll wind up on the discount rack very quickly.” dollars. New York is projected to spend $54 billion through a revamping of Medicaid Unlike her predecessor, Joel Klein, who was the lead prosecutor in the on Medicaid next year, and not very efficiently, so before the state budget is due April Microsoft antitrust case, Ms. Black did not enter the job with her own brand 1. As a result, the initial cuts are because the general public was unfamiliar with her career in magazine Tit would seem like a plump target for the governor’s ax. But expected to be brutal in nature, such publishing, the consultant said. Rather, she was introduced by the media as appearances can be deceiving. as a 7% reduction in the Medicaid someone who is “under the Bloomberg marquee and Only $14 billion of that is state spending. reimbursement rate to providers. throws good parties.” Almost $32 billion will come from To help providers weather cuts, “She was a public-relations disaster from day one,” there could be a push for medical a third consultant said. “The only bright side of the Washington and the rest from localities, so malpractice insurance reform. birth-control comment is that it distracts from the fact the state might close just $2 billion of Home and personal care will be that she has no ties to the school system. However, it its deficit through Medicaid overhauled and a move will be made reinforces a perception that she is an out-of-touch reductions. to address the pay disparity between dilettante.” personal care and home care. Last week, in an unscientific Crain’s online Another obstacle is politics. New survey asking if people had a right to be York would like to get a waiver Kessel to stay upset by Ms. Black’s comments, 70% said from the Obama yes. She apologized, but was still booed at AN INSIDER said Gov. Andrew Cuomo an event. administration allowing has no plans to remove Richard
reforms to its Medicaid Kessel as president and chief bloomberg news program as well as federal executive of the New York funding to implement those Power Authority. Mr. Kessel president of energy and but as leaders in his administration’s newscom has been in that position since telecommunications at the city’s effort to reorganize government. changes; California recently 2008. Chief Operating Officer Economic Development Corp., A Buffalo native whose father got a waiver and $10 billion Gil Quiniones, a former senior vice was briefly considered for the job was a former deputy speaker of the but was believed not to be ready for Assembly, Ms. Eve (below) is it, the insider said. expected to have a significant policy role. She will work with Paul Francis, who has the newly created Opposing the Taxi role of director now exclusively of agency available on... of Tomorrow the exclusive online community of The CFO Alliance redesign and OPPONENTS OF Nissan’s and efficiency, to Karsan’s entries in the Taxi of make the Tomorrow competition said Mayor ESDC more The Power of Positive Marketing and Its Impact on the Bottom Line Michael Bloomberg should follow “centrally the Obama administration’s Iran coordinated,” Kathryn policy set last summer.The law newscom said requires foreign or U.S. businesses Wylde, president Register for our next Breakfast Roundtable: January 25, 2011 // 8 am-10 am seeking federal contracts not to of the Partnership for New York Head into 2011 with a fresh outlook and The University Club engage in prohibited business with City.That effort could lay the access your CFO Community as we discuss, One West 54th Street New York, NY 10019 Iran. But the Taxi of Tomorrow is groundwork for naming the debate and dissect tactics, techniques and not a typical government contract: ESDC’s top executives. practical tips all companies can use to evaluate Register Online: Taxpayers will not purchase the and implement new marketing strategies. www.AchieveNext.com/events cabs; private fleet operators will. Queens boro plays (1.5 CPE Credits) United Against Nuclear Iran made its request in a letter to the INSIDERS SAID Assemblywoman Au- Continue the Conversation Online: mayor earlier this month. U.S. drey Pfeffer has asked the Queens Join the Discussions on AchieveNext, sanctions already prohibit County Democratic organization the exclusive online community of The American companies like Ford, the to support her to succeed Queens CFO Alliance. AchieveNext.com/cfoa third finalist in the contest to build County Clerk Gloria D’Amico, who a custom cab for the city, from died Dec. 21 at age 83. Clerks earn doing business with Iran. $140,000, hire dozens of staffers Complimentary Registration for First Time Attendees and generally serve for life. Should Ms. Pfeffer land the job, Eve leads it would take her out of the running THE CFO ALLIANCE OF NEW YORK IS PARTNERED BY: ESDC changes for Queens borough president,
which would be good news for
LAST WEEK’S APPOINTMENT of Leecia probable 2013 candidate Peter V Eve as senior vice president and Vallone Jr. The councilman has counsel to the Empire State Devel- $826,000 in his campaign fund, opment Corp. reflects Gov. Andrew while another possible candidate, Cuomo’s desire to have his counsels Councilman Leroy Comrie, has just act not simply as compliance officers $600 on hand.
For daily political and government news, subscribe to CRAIN’S INSIDER @ www.crainsnewyork.com/insider
8 | Crain’s New York Business | January 24, 2011 20110124-NEWS--0009-NAT-CCI-CN_-- 1/20/2011 7:49 PM Page 1
NEIGHBORHOOD JOURNAL
getting to work,” Ms. Stoltz said. Four school-bus companies in Red Repairs to close station; users happy Hook employ about 1,200 people, “and that’s just some of the jobs,”she added. Commuters typically arrive at Will tolerate 2-year disruptions at Brooklyn Smith-Ninth and get the B61 bus for the mile-long ride to Red Hook, F and G stop for expected improvements Ms. Stoltz said. Without service at especially at night. that station, they will have to go to BY MARINE COLE So rather than protest the incon- Borough Hall or Jay Street- venience, many residents of the sur- MetroTech to catch the B61, which T SLIGHTLY more than rounding Carroll Gardens neigh- will make for more crowded buses. 87 feet aboveground, borhood were thrilled last week the subway station at when the Metropolitan Transporta- “Had to be done” Smith and Ninth tion Authority finally closed part of A SPOKESWOMAN for the MTA said it streets in Brooklyn the station to begin repairs. has taken additional steps after Aranks as the highest in the world. In “We’re very eager to have talking with community members recent years, however, it has added reached this point, because the sta- and elected officials. For instance, the distinction of being one of the tion has needed work for many the agency will monitor bus routes most decrepit. years,” said Craig Hammerman, and add more B61 service if it’s The station sits on the 77-year- district manager of Community needed. old Culver Viaduct, which carries Board 6. In the meantime, though, the the F and G trains far above the $275.5 million project is under way.
fetid Gowanus Canal and has for Getting worse before it gets better nolan robert The focus is on rehabilitating the decades been shedding hunks of the THAT ENTHUSIASM will be sorely test- HIGH BUT NOT SO MIGHTY: The viaduct that the trains travel on has been shedding concrete. viaduct and upgrading tracks, sig- concrete covering its steel super- ed. Service interruptions and clo- nals and switches. MTA also plans structure. The escalators to the sures at the Smith-Ninth station are to restore the station and platforms. platforms are often out of service, expected to persist for two years.For including Buttermilk Channel and executive director of the South That work will include repairing prompting some riders to hike more example, its Manhattan-bound F Le Petit Café, insist that the work Brooklyn Local Development structural deficiencies and rebuild- than half a mile to the Carroll Street service has been suspended until late won’t put much of a dent in their Corp. While mostly industrial, the ing the control house. station. May. Things get worse then, when business because their customers are area also has thousands of residents, “It had to be done,” Ms. Stoltz “The Smith-Ninth station is the station will be shut down com- primarily locals who walk in. including those in the Red Hook said. “But I hope refurbishing the really gross,”said Doug Crowell,the pletely until spring 2012.After that, More dramatically affected will Houses,the borough’s largest public station will mean putting in an esca- owner of Buttermilk Channel, a Brooklyn-bound F service will be be Red Hook, the vast neighbor- housing development. lator that works.” restaurant three blocks away. “It’s suspended until fall 2012. hood on the far side of the Gowanus Additionally, employees at Red A spokeswoman for the MTA also not very safe.” He encourages Restaurants on Court Street Expressway, which has few trans- Hook’s plants and large Fairway and said that it plans to repair but not re- his patrons to use Carroll Street, close to the Smith-Ninth station, portation options, said Bette Stoltz, Ikea stores “will have a hard time place the station’s escalators. Ⅲ
SMALL BUSINESS
Mr. Bolotsky decided to partici- pate in the campaign in part because Socially responsible firms strut stuff he thinks it could persuade more like-minded entrepreneurs to be- come certified. But, also, he said, “it “This is a major step forward for at first glance,” said Jay Coen ganizers. Another member of the can boost consumer demand for our B Lab and its a company like ours,” said Ms. Gilbert, a B Lab co-founder, who fold, Care2.com, is running articles products.” certified enterprises O’Loughlin. “Consumers can see grew up in Manhattan. about the companies; print ads in The jury is still out as to just how the true, authentic core of our firm.” To contend with these obstacles, Mother Jones and Utne Reader fea- successful the advertising push aim to turn skeptics For socially responsible compa- the people at B Lab recently decided ture a handful of the enterprises. might be. nies, these can be difficult times. that it was high time to start promot- “Whether this particular cam- on to B Corp tag Consumers are inundated by claims ing their rating system.They are stak- Potential business-booster paign will hit the right mix of emo- that businesses are doing their bit ing a claim as an unusual force in the CERTAINLY, the businesses that got tional pull and rational information BY ANNE FIELD for the planet and for society. world of certifications—one that involved are looking to the cam- remains to be seen,” said Catherine And there literally are hundreds paign to bring in sales. Take David Clark, adjunct assistant professor at OOKING FOR a fresh way of so-called trust marks: certifica- Bolotsky, who left Goldman Sachs the Center for the Advancement of to promote the baby food tions by third parties that purport to ‘New Yorkers in 1999 to start Uncommon Goods, Social Entrepreneurship at Duke that Plum Organics prove that products are legitimately a Brooklyn-based online seller of University’s Fuqua School of Busi- sells, Chief Executive green or socially responsible. Some, tend not to unusual products.The 50-employee ness and, until recently, an adjunct Sheryl O’Loughlin de- like USDA Organic, are sponsored believe anything company offers wares ranging from professor at Columbia University Lcided to focus on its socially respon- by government agencies. Others— $12 sets of temporary hand tattoos Business School. “But it’s definitely sible bona fides. Fair Trade, for example—are han- for kids to a $180 personalized ster- a step in the right direction against The 20-employee Manhattan dled by nonprofits, and still others at first glance’ ling-silver pendant of a tree stump. greenwashing.” Ⅲ company, which has about $10 mil- by industry associations. lion in sales, recently took the time to become a B Corporation,proving A world full of skeptics to a third-party certifier that it AS A RESULT, there’s a growing skep- SMALL BIZ AT WWW.CRAINSNEWYORK.COM meets “triple-bottom-line” goals on ticism among consumers about the offers trust marks for entire compa- accessed under the “Resources” list the environmental,social and finan- legitimacy of most certifications, nies, not just individual products. at the bottom of the home page. cial fronts. Ms. O’Loughlin decided according to Raphael Bemporad, In addition to scoring a certain to parlay that certification into co-founder of BBMG. The 16- number of points under B Lab’s rat- Small business newsletter greater customer awareness by par- employee Manhattan branding ing system, a participating firm has To receive the newsletter, visit ticipating in a new national brand- firm, itself a B Corp company, to agree to amend its bylaws so that www.crainsnewyork.com/smallbiz. ing campaign just launched by B helped design the ad campaign. directors have a legal responsibility Subscribe Use Lab,the Berwyn,Pa.,nonprofit that “The amount of clutter and con- to consider the larger mission of the the “Subscribe performs the certifications. fusion is huge,” said Mr. Bemporad, company when making decisions. Along with about 70 other like- whose company has $2 million to $3 Nationally, there are about 400 B- now” button to get minded firms, Plum Organics is million in revenues. certified companies. weekly editions appearing in an online campaign In the New York area, con- To participate in the advertising Growing a Business Guide Crain’s of Crain’s or to to inform consumers that its prod- sumers, who are customarily inun- campaign,B Corps had to pay $500. has compiled a list of hundreds of order an electron- ucts are 100% organic, for example, dated by marketing from all sides, Most of the design and develop- organizations with resources to help ic subscription to and that the company is completely may be more skeptical than most. ment work was donated, helping to small firms. The guide can be the newspaper. employee-owned. “We tend not to believe anything limit participants’ costs, say the or-
January 24, 2011 | Crain’s New York Business | 9 20110124-NEWS--0010-NAT-CCI-CN_-- 1/21/2011 3:02 PM Page 1
VIEWPOINT Put a rail tunnel back on track editor in chief Rance Crain Jill R. Kaplan T FIRST GLANCE, it appeared that Sen. Mr. Schumer was silent on the issue until last week, when publisher, vp Charles Schumer was 90 days late and a he said at a Crain’s forum that the governor had made “a EDITORIAL few billion dollars short when he blasted terrible, terrible decision.”The senator said he was motivated editor Xana Antunes managing editor Glenn Coleman New Jersey Gov. Chris Christie last week to act when Mr. Christie compounded his mistake by deputy managing editors Valerie Block, Erik Ipsen for canceling construction of a train tunnel proposing to use Port Authority of New York and New senior producer, projects Kira Bindrim under the Hudson River. Jersey capital funds for regular maintenance work on state senior producer, news Elisabeth Butler Cordova contributing editor But this issue is far from dead. While roads and bridges, just as he repurposed money the state had Elaine Pofeldt Mr. Christie’s October decision ended the Access to the set aside for the ARC tunnel. Mundane roadwork is columnists Greg David, Alair Townsend Region’s Core tunnel project as we know it, the need to normally paid for by New Jersey’s transportation trust fund, politics editor Erik Engquist A pulse editor Barbara Benson expand access to the city will only intensify as the region’s which is running dry because Mr. Christie won’t raise his senior reporters Theresa Agovino, Aaron Elstein, Lisa Fickenscher, economy grows. In fact, one tunnel might not have been state’s unconscionably low gas tax and tolls. Matthew Flamm, Miriam Kreinin Souccar enough: Amtrak wants its own cross-Hudson tunnel in Shoring up reporters Marine Cole, Amanda Fung, Daniel Massey, Adrianne Pasquarelli, order to offer high-speed rail service between Washington, dwindling state Hilary Potkewitz, Jeremy Smerd D.C., New York and Boston. Mr. Schumer finances should not be art director Steven Krupinski deputy art directors Carolyn McClain, Projects like these might seem to be unaffordable luxuries says Mr. Christie accomplished by Daniel Mednick in a time of economic uncertainty and dwindling forsaking investments staff photographer Buck Ennis copy desk chief Wendy Zuckerman government resources, but they are necessities if the made a ‘terrible in the metropolitan copy editor Thaddeus Rutkowski metropolitan area is to maintain its status as an economic area’s future. research editor Dana Gordon decision’ assistant research editor Suzanne Panara powerhouse and New York is to remain a leading Stakeholders must international city. Hong Kong, Singapore and even Western redouble their efforts to EDITORIAL AND ADVERTISING OFFICES 711 Third Ave., New York, NY 10017-5806 Europe are investing heavily in mass transit, an essential expand rail capacity editorial: 212.210.0277 Fax 212.210.0799 component of a modern urban economy. While the U.S. across the river. advertising: 212.210.0259 Cable craincom nyk spends $3 billion a year on rail infrastructure, China spends The Bloomberg administration is doing its part by Fax 212.210.0499 $43 billion. It is pure fantasy to think such an imbalance studying the feasibility of extending the No. 7 train to Entire contents ©copyright 2011 Crain Communications Inc. All rights reserved. won’t fundamentally shift the balance of economic power. Secaucus as a substitute for the ARC tunnel.That’s well ®CityBusiness is a registered trademark of MCP Mr. Christie had made it known that he was leaning worth exploring, but won’t obviate the need for an Amtrak Inc., used under license agreement. toward canceling the project, a standard move by politicians tunnel, too. TO SUBSCRIBE: Call 888.909.9111; fax 313.446.6777. to gauge the reaction. While transportation groups howled The lesson of the Christie cancellation is that projects are $3.00 a copy, $59.79 one year, $109.79 two years. in protest and the Obama administration scrambled to not safe until the ribbon is cut.The fact that ground had www.crainsnewyork.com address Mr. Christie’s concerns that New Jersey could be on been broken, $600 million had been spent and $3 billion in ADVERTISING AND MARKETING the hook for billions in cost overruns, New Jerseyans didn’t federal funding had been committed was not enough to save advertising director Trish Henry exactly storm the governor’s mansion with pitchforks. So the ARC tunnel. It is clear that politicians alone cannot be senior account managers Irene Bar-Am, Courtney McCombs, William E. Squitieri Mr. Christie killed the ARC tunnel. relied on to provide for the region’s future. account executive Anthony Mowad sales manager, classified print & online John Gallagher sales coordinator, print & online Lulé Haznedari newsletter product manager CRAIN’S ONLINE POLL COMMENTS Alexis Sinclair credit Todd J. Masura 313.446.6097 marketing director Amy Crossman SHOULD LIVERY CABS assistant marketing manager BE ALLOWED TO PICK UP Sabra Harrison The workers’ comp scandal director, audience development STREET HAILS? John LaMarca for their misfortune. But if the state now bails senior audience development manager WHERE WAS THE STATE? Tarek Cotran Date of poll: Jan. 20 them out, it will be adding insult to injury by 198 votes we are a nonprofit community-based using our money to assist those who used the general manager, interactive organization that was caught up in one of these trusts to unfair advantage in the first place. Marc Minardo
. 75% Yes. It’s insurance scams (“A workers’ comp scandal,” —kenneth j. buettner web developer, interactive Chris O’Donnell impossible to Jan. 10). After years of paying our premiums to President hail a cab in the
outer boroughs one of the failed trusts, we, too, were hit with a York Scaffold Equipment Corp. NEW YORK PRODUCTION
substantial bill from the state. because most 25%. production and pre-press director taxis stay in One has to wonder why state regulators WHERE WERE THE LOBBYISTS? Michael Corsi Manhattan. This weren’t more careful in monitoring these advertising production manager would improve “approved” trusts, especially those—like ours— the trust industry, backed by powerful Suzanne Fleischman Wies transportation No. The law would allow that were for the most part dealing with political interests, lobbied extensively to thwart options for liveries to operate like cabs PUBLISHED BY CRAIN COMMUNICATIONS INC. residents without having to own a agencies funded by government dollars. any kind of meaningful attempts at regulation, —irma e. rodriguez either by the Workers’ Compensation Board or chairman Keith E. Crain underserved by medallion and play by rules president Rance Crain public transit. established more than 80 Executive director the Legislature. While the government could secretary Merrilee Crain years ago. Queens Community House have done better, its failures resulted from the treasurer Mary Kay Crain political process, not simply incompetence. executive vp, operations William Morrow WHERE WAS THE JUDGMENT? Thousands of New York businesses senior vp, group publisher Gloria Scoby deliberately chose not to join trusts because group vp, technology, circulation, manufacturing Robert C. Adams i had the opportunity to join a self-insured they were concerned about the liability vice president/production & workers’ compensation trust but did not. For provisions of trust agreements. Many insurance manufacturing David Kamis years, businesses like mine have had to compete brokers realized trusts were ticking time bombs chief information officer Paul Dalpiaz against those that collectively gamed the and steered clients away. I am sympathetic to corporate circulation/audience workers’ comp system to lower their overhead misled owners, but it’s not fair to burden those development director Kathy Henry while we paid high, legitimate premiums for who made more conservative choices. founder G.D. Crain Jr. (1885-1973) Mrs. G.D. Crain Jr. For this week’s questions: Go to real insurance. —barry lovell chairman (1911-1996) www.crainsnewyork.com/poll to have your say. It is no surprise that the “victims” and their President lawyers want to hold someone else accountable Lovell Safety Management Co.
10 | Crain’s New York Business | January 24, 2011 20110124-NEWS--0011-NAT-CCI-CN_-- 1/20/2011 7:33 PM Page 1
OPINION ADD CRAIN’S WEALTH OF we may disagree with certain aspects of the report, like CEO attestation Getting financial that compliance standards are con- INFORMATION tinually being met, the FSOC’s recognition of the complexity of this issue is important. Poorly crafted regulations right regulations, in this instance, could TO YOUR constrict the ability of financial insti- tutions to effectively conduct mar- BY TIM RYAN ket-making activities,which add liq- BUSINESS uidity to markets, and which in turn HE DODD-FRANK ACT, legislation that fundamen- help fuel economic growth. tally changed our financial system, is just 6 months Another example is the creation DATABASE of a uniform fiduciary standard of old, and already regulators have made reasonable care for brokers and investment ad- progress toward implementing the law. But much visers. If these rules are not carefully work still lies ahead, and 2011 will be a crucial year written, individual investors could for the financial industry. Our focus will be to “get it right.” lose their ability to choose the finan- T cial services they want at low cost. We operate in global financial markets where new rules must Getting these new rules right is be written on a coordinated basis by regulators around the world. why we encourage regulators to spend the time that they need to It is a complex process that cannot be on getting new rules right. That’s craft regulations that meet the stan- done in a vacuum. It is crucial that why the Securities Industry and Fi- dard of the president’s executive or- regulators write these rules so as not nancial Markets Association re- der. We all want clarity, but rushing to constrict the ability of financial in- mains committed to providing regu- to meet artificial deadlines does not stitutions to facilitate capital forma- lators with substantive analysis serve the markets or the American tion, supply credit to small business- during the rule-making process so economy well.If regulators feel they es and families, and fuel economic regulators have the information to need more time to get the regula- growth and job creation. develop rules that work in global fi- tions right, they should ask Con- President Obama recognized this nancial markets. gress to extend deadlines, many of imperative last week when he signed Take for example, the implemen- which kick in this year. an executive order that requires reg- tation of the Volcker Rule’s ban on SIFMA and its members will ulatory agencies to review all of their proprietary trading. In a recently re- continue to work with regulators to current rules to ensure that regula- leased study, the Financial Stability ensure they “get it right.”The stakes tions protect our markets while pro- Oversight Council recognized that are too high to do anything less. moting economic growth. This is a there cannot be a one-size-fits-all welcome step by the Obama admin- rule for all asset classes and that gray Tim Ryan is president and chief executive istration and shows that it is not just areas exist between permitted activi- of the Securities Industry and Financial the financial industry that is focused ties and proprietary trading.Though Markets Association. Download all of tured their finances for what every- the information in one agreed would be a modest re- Effective counters covery. New York, like other states, the newly published used the funds to plug its budget gap but did nothing to reduce spending. Book of Lists as an The millionaire’s tax, which expires to deficit thinking this year, was the state’s own answer Excel file by purchasing to the “short-term’’ problem. How long does “short-term’’ last? LABOR LEADER I KNOW insists that some kind of tax increase is needed to deal with the state’s Of course we can cut the budget. “short-term’’ fiscal issues so that the entire burden FOR YEARS, New York’s budget has risen at two and three times the rate CRAIN’S of closing the $10 billion deficit in next year’s of inflation. Since 1985, the average budget doesn’t fall on “working people.’’ increase in state-funded spending A political scientist I know keeps telling me there is no way has been 5.4%, while consumer 2011 A prices have risen at an average of 10 Gov. Cuomo and the Legislature can actually cut $ billion 2.9%. Neither tax collection nor from the budget. personal income has grown as BOOK OF LISTS quickly as spending, a CBC analysis At a well-attended passionate than other shows. Such growth can be pared ONLINE Citizens Budget Com- states; and praised its back. It’s that simple. mission panel on the ability to get more fed- state’s Medicaid prob- eral health care dollars, It’s time to concentrate on the costs This one-time download puts the information and contacts lem, not one person was despite the fact that it that programs like Medicaid impose on willing to answer the means spending more the economy—not just on their benefits. from Crain’s 2011 Book of Lists at your fingertips. Use this question of specifically state money. THE FACT THAT NEW YORK ranks ei- unique resource to get new business leads for 2010’s top ranked what items should be All are examples of ther No. 1 or No. 2 in the combined companies and to direct your outreach to the largest and most eliminated now to save the kind of thinking state and local tax burden is well- successful companies across New York’s business sectors. money, even though that created this deficit. known, but can’t be repeated too of- New York spends so ten. This weight has crippled the To download now, go to crainsnewyork.com/lists. much more than any GREG Remember the stimulus. upstate economy and hamstrung other state. DAVID IN THE PAST two years, even the strong New York City busi- Instead, they fo- New York has received ness sector. It is telling when health cused on long-term so- something on the order care experts—like those speaking at lutions, all of which required “in- of $14 billion in federal stimulus to the CBC event—emphasize Med- vestments’’ and none of which came use on education and health care. icaid’s benefits without a single ref- with clear spending reductions; de- The money was supposed to be a erence to the consequences such fended New York’s way of doing bridge to lessen the recession’s im- programs have on New York’s eco- things, which is simply more com- pact on budgets while states restruc- nomic health.
CRAIN’S WELCOMES SUBMISSIONS to its opinion pages. Send letters to [email protected]. Send columns of 475 words or fewer to [email protected]. Please include the writer’s name, company, address and telephone number.
January 24, 2011 | Crain’s New York Business | 11 20110124-NEWS--0012,0013-NAT-CCI-CN_-- 1/20/2011 7:58 PM Page 1
GROWING
MO SISSAKHO JOSE RODRIGUEZ Executive chef, Produce team member, Traffic Bar and Whole Foods Union Restaurant Square FOOD SERVICES IL RETAILA TRADE +8,000 jobs +2,200 jobs
WHERE JOB$THE
PAULINE SMITH Home health aide, Partners in Care H HEALTHT SERVICES +8,400 jobs ARE SLOWING
MARIA RIGGI FRED MURPHY School crossing guard, Director of New York Police photography, Department CBS series The LOCAL GOVERNMENT Good Wife -5,800 jobs MOTION PICTURES AND RECORDING -1,900 jobs
WARREN BRAND Business owner, Custom Fabric Flowers by M&S Schmalberg Inc. APPAREL MANUFACTURING -2,100 jobs Jobs gains and losses are for 2010.
12 | Crain’s New York Business | January 24, 2011 20110124-NEWS--0012,0013-NAT-CCI-CN_-- 1/20/2011 7:58 PM Page 2
RONALD ZWEIG Professor, New York University ION EDUCATIONT AL SERVICES +6,100 jobs
EW YORK CITY FARED BETTER during the Great Recession than the U.S. as a whole. And the experience offers a window onto the city’s rapidly changing economy, challenging some long-held conventional wisdom. That manufacturing continued its decline will surprise no one, but who ROMAN MATATOV would have anticipated the city would rebound without the help of once- Forensic accountant, mighty Wall Street? Employment in core sectors of the local economy, Marcum like the securities industry, media, information technology and ACCOUNTING N +3,200 jobs government, have all stagnated, at best. What powered the local rebound? Education, health care, hospitality and retail. The city, late to the big-box game, played catch-up, boosting the retail sector. Tourists also gave retail a lift and helped fill restaurants and hotels, too, launching the hospitality sector to never-before-seen heights. Health care continued its rise, especially home health care, while higher education proved recession-resistant as usual. Freelancers are an ever-growing part of the city’s economic landscape. The local economy’s resilience has been the big story, but looking ahead, there are a few clouds. Salaries in many of the city’s growing industries don’t match the generous packages paid in finance or the middle-class paychecks attainable in the public sector or manufacturing. With a real possibility that the securities industry will be pared down for years, if not decades, the best hope for a lucrative future for the city may lie in higher education’s role. Can the ivory tower types innovate the city’s way to prosperity? —Text by Daniel Massey; photographs by Buck Ennis
MAIL CARRIER U.S. POSTAL SERVICE -900 jobs
NICK LEOPARD Chief executive, Accordion Partners SECURITIES Sources: NYS Dept. of Labor, Eastern Consolidated -100 jobs
January 24, 2011 | Crain’s New York Business | 13 20110124-NEWS--0014-NAT-CCI-CN_-- 1/20/2011 5:46 PM Page 1
PROFESSIONS NY Area’s Largest Executive Recruiting Firms Ranked by number of area recruiters
*" *$ !% !% $$' &$% $$' &$% $" *$& ! ! " #!( "!*% & *"* *$*" !* "!% %$% "$*$%*"*%# )& "!
/).'+2 '-+49+74'9/54'24) $ /"* ) ++ -"$$ 8 / ,85482,8/148,8.4,6=0<@4.0=148,8.0,8/ 0B482>98@0 AAA74.3,06:,20.97 34010B0.?>4@070<4.,= 8 / ,..9?8>482=,60=,8/7,<50>4823?7,8<0=9?<.0= "0A+9<5"+ :<9.?<0708>,8/=?::6C.3,480824800<482602,6 "525354 '-+75:6 $'0 '$'%'& '++ 8 / 48,8.4,6=0<@4.0=30,6>3.,<0,8/6410=.408.0= !,/4=98@0 AAA=969798:,20.97 !,8,2482/4<0.>9<= 8 / ,..9?8>482,8/148,8.04819<7,>498>0.389692C "0A+9<5"+ .<0,>4@0602,6 57:375:6 )&# ,*)' 8 / ..9?8>482<02?6,>9
8 / .98=?6>482=0.?<4>40=48/?=> 14 | Crain’s New York Business | January 24, 2011 20110124-NEWS--0015-NAT-CCI-CN_-- 1/20/2011 5:46 PM Page 1 FOR THE RECORD [email protected] or ● Wathne USA signed a lease for 8,200 directly holds 187,901 shares. [email protected]. square feet at 42 W. 39th St., an 18-story, ABOUT THIS SECTION 175,000-square-foot building owned by ● MasterCard Inc. (MA) ● Department of Youth and Community 45-52 W. 39th St. LLC. Michael Joseph MasterCard Foundation sold 63,660 FOR THE RECORD is a weekly listing of information from the public record that Development of Colliers International represented the shares of common stock at prices can help businesspeople in the New York area find opportunities, potential Requests proposals by 2 p.m. on Feb. 28 tenant, while David Levy and Jeffrey ranging from $229.42 to $231.27 new clients and updates on competitors. from qualified not-for-profit Schwartz of Adams & Co. negotiated on between Jan. 5 and Jan. 11, in a To ask questions or get more information on this section, contact Suzanne organizations to provide services to behalf of the landlord. The asking rent transaction worth $14,692,877. It also Panara at [email protected]. foreign-born residents and their was $32 a square foot. sold 21,220 shares at prices ranging children, including assisting immigrants from $232.34 to $235.13 between Jan. to become more self-sufficient, RETAIL 13 and Jan. 14, in a transaction worth strengthen their families and support ● Dave’s Wearhouse signed a 10-year $4,959,815. It now directly holds systems, and improve their living lease for 1,400 square feet at 123 Baxter 13,235,700 shares. BANKRUPTCIES York City agencies.To learn how to sell conditions. There will be two pre- St., a building owned by LPS Baxter goods and services to city government, visit proposal conferences at 10 a.m. and Holding. Peter Braus and Peter Levitan ● Celgene Corp. (CELG) The following listings are selected from the www.nyc.gov/selltonyc. For a searchable 2 p.m. on Feb. 7 at 110 William St., of Sierra Realty Corp. represented the Sol J. Barer, nonexecutive chairman, most recent available filings by companies database of current procurement notices, fourth floor. Attendance is optional tenant and the landlord in the exercised options on 108,534 shares of seeking bankruptcy protection in the visit www.nyc.gov/cityrecord. Listings are but recommended. Contact transaction. The asking rent was $65 a common stock at $26.35 on Jan. 13, in a Southern and Eastern Districts of New alphabetical by category and department. Michael Owh at (212) 513-1820 or square foot. transaction worth $2,859,871. On the York. Information was obtained from U.S. [email protected] with same day, he sold 75,200 shares at $57.38, Bankruptcy Court records available on CONSTRUCTION SERVICES questions. ● Bond No. 9 signed a 10-year lease for in a transaction worth $4,315,134. He Public Access to Court Electronic Records. ● City University of New York 1,000 square feet at 863 Washington Ave., now directly holds 753,473 shares. Listings are in alphabetical order. Seeks competitive sealed bids by 11 a.m. ● Hudson River Park Trust a building owned by Madison Tower on Feb. 17 for the installation of lighting Requests proposals by 5 p.m. on Jan. 31 NY. The firm will occupy the ground ● MSC Industrial Direct Co. (MSM) ● Gromwell Information Technology at the women’s softball field at the from experienced and qualified floor. Faith Hope Consolo and Joseph David Sandler, director, president and 15 W. 39th St., Manhattan College of Staten Island. There will be a production companies to provide sound Aquino of Prudential Douglas Elliman chief executive, sold 67,500 shares of Filed for Chapter 7 bankruptcy mandatory pre-bid site visit at 10 a.m. and stage production for the trust’s represented the tenant, while Stuart common stock at $60.61 on Jan. 11, in a protection on Jan. 15. The filing cites on Feb. 2 at the college, 2800 Victory Moondance event series and to provide Siegel of Grubb & Ellis represented the transaction worth $4,091,378. He now estimated liabilities of $500,001 to Boulevard, Building 2A, room 301. For sound equipment training, initial setup landlord. The rent is $400 a square foot. directly holds 93,114 shares. $1 million and estimated assets of more information, contact MaryAnn and seasonal maintenance for the $100,001 to $500,000. Among the Bellomo at (212) 541-0440 or trust’s RiverFlicks outdoor movie series. Charles A. Boehlke Jr., director, creditors with the largest unsecured [email protected]. Both events take place in July and STOCK TRANSACTIONS executive vice president and chief claims are Dibon Solutions Inc., owed August. For more information, contact financial officer, exercised options on $72,795; SpaceAge Consulting Corp. ● City University of New York Ian Kaley at (212) 627-2020 or Following are recent insider transactions at 17,531 shares of common stock at prices owed $58,793.60; and IQ Tech Pros Seeks competitive sealed bids by 11 a.m. [email protected]. New York’s largest publicly held companies ranging from $44.17 to $48.21 on Jan. f/k/a Saga Consulting, owed $47,781.75. on Feb. 22 for the labor, material and filed with the Securities and Exchange 13, in a transaction worth $834,944. On equipment required to renovate an Commission by executives and major the same day, he sold 17,531 shares at ● Just Plumbing & Heating Supply Inc. existing lecture hall/classroom at the REAL ESTATE DEALS shareholders. Listings are in order of $60.34, in a transaction worth 1508 Macombs Road, Bronx North Academic Center, City College, transaction value.The information was $1,057,868. He now directly holds Filed for Chapter 11 bankruptcy West 138th Street and Convent Avenue. Companies that would like to have obtained from Thomson Reuters. 42,827 shares. protection on Jan. 18. The filing cites There will be a mandatory pre-bid details of their recent transactions appear estimated liabilities of $1,000,001 to meeting and site visit at 10 a.m. on in these listings should e-mail ● Medco Health Solutions Inc. (MHS) ● John Wiley & Sons Inc. (JW.A) $10 million and estimated assets of Feb. 3, at the NAC Building, room descriptions following this format to Brian T.Griffin, president, Bonnie E. Lieberman, senior vice $100,001 to $500,000. Among the 0/201. The building is located on [email protected], with international, exercised options on president, higher education, exercised creditors with the largest unsecured claims Amsterdam Avenue between West “Real estate transaction” in the subject 206,358 shares of common stock at options on 40,000 shares of common are Laurence S. Lee, owed $466,500; 135th and West 138th streets. line, or enter them online at prices ranging from $22.10 to $42.73 on stock at $25.32 on Jan. 7, in a Aspen Distributors Inc., owed $292,500; Enter through the Convent Avenue crainsnewyork.com/submitadeal. Deals Jan. 13, in a transaction worth transaction worth $1,012,800. During and Kenneth Lee, owed $144,764.26. entrance. For more information, contact are listed in order of square footage. $6,890,166. On the same day, he sold the same period, she sold 40,000 shares Ines Eden at (212) 541-0440 or 206,358 shares at $65.00, in a at $45.40, in a transaction worth ● Sackett St. Holding Corp. [email protected]. COMMERCIAL transaction worth $13,413,270. He now $1,816,000. She now directly holds 34 15th St., Brooklyn ● Mizuho Capital Markets Corp. signed directly holds 100,052 shares. 131,567 shares. Filed for Chapter 11 bankruptcy ● Department of Design and Construction a 15-year renewal lease for 39,000 protection on Jan. 10. The filing cites Seeks competitive sealed bids by 11 a.m. square feet at 1440 Broadway, a 25-story, Kenneth O. Klepper, president and chief ● Regeneron Pharmaceuticals Inc. estimated liabilities of $500,001 to on Feb. 8 for the construction of sanitary 740,000-square-foot building owned by operating officer, exercised options on (REGN) $1 million and estimated assets of and storm sewers and appurtenances at Monday Properties. The company 122,400 shares of common stock at Roy P.Vagelos, chairman, sold 30,000 $100,001 to $500,000. Among the 33rd Road in Queens. Bid documents occupies the top two floors of the $29.24 on Jan. 13, in a transaction worth shares of common stock at $34.04 creditors with the largest unsecured are available at www.nyc.gov/buildnyc. building. Brian Waterman and Lance $3,578,976. On the same day, he sold between Jan. 3 and Jan. 6, in a claims are Pentech Financial, owed For further information, contact Ben Korman of Newmark Knight Frank 148,938 shares at $65.00, in a transaction worth $1,021,200. He now $91,000; the New York State Perrone at (718) 391-2614. represented the tenant, while Jordan transaction worth $9,680,970. He now directly holds 656,476 shares. Ⅲ Department of Taxation and Finance, Berger negotiated in-house for Monday owed $12,911.22; and the Internal ● New York Police Department Properties. The asking rent wasn’t Revenue Service, owed $4,221.72. Seeks competitive sealed bids by 11 a.m. disclosed. on Feb. 15 for the construction of a DEALS ROUNDUP ● YPM Inc. storage building at Harbor Launch, ● AMSCO School Publications 23 Three Mile Harbor Road, Randall’s Island. A mandatory pre-bid renewed and restructured its lease East Hampton, L.I. conference will be held at 10 a.m. on for 26,300 square feet on the fifth TRANSACTION SIZE Filed for Chapter 7 bankruptcy Jan. 27 at Harbor Launch, 203 floor of 315 Hudson St., a nine-story, COMPANY (IN MILLIONS) BUYERS/INVESTORS TRANSACTION TYPE protection on Jan. 14. The filing cites Randall’s Island Road. To get more 450,000-square-foot building owned by Doubletree Guest Suites $307.5 Sunstone Hotel Investors Inc. SB M&A estimated liabilities of $100,001 to information or to obtain a free copy of Jack Resnick & Sons, adding on three Times Square-New York City (remaining 62%) $1 million and estimated assets of the bid package, contact Stephanie years. Alexander Chudnoff and Scott Crumbs Bake Shop Inc. $108.3 57th Street General Acquisition Corp. SB M&A $10,000 to $100,000. Among the Gallop at (646) 610-5225 or Vinett of Cushman & Wakefield (Manhattan) (Manhattan) creditors with the largest unsecured claims [email protected]. represented the tenant, while Brett Celtique Energie Ltd. $100.0 Avista Capital Holdings (Manhattan), GCI are Bridgehampton National Bank, owed Greenberg negotiated on behalf of the individual investors $17,462.03; BWP-CarQuest Auto Parts, GOODS AND SERVICES landlord in-house. The asking rent Agrokor d.d., $63.4 W.P. Carey & Co. SB M&A ● owed $17,182.78; and Southampton Department of Education wasn’t disclosed. a portfolio of retail facilities (Manhattan) Tire Center Inc., owed $7,489.61. Requests proposals by 4 p.m. on March ● NextWave $45.0 Bay City Capital, Vivo Ventures, GCI 1 from high-quality early-childhood Lockton Cos. signed a 15-year lease Pharmaceuticals Inc. Sofinnova Ventures Inc., ● Zurich Associates Ltd. providers who are willing to collaborate for 22,000 square feet at 1185 Sixth Ave., Aisling Capital (Manhattan), 244-06 Jericho Turnpike, with Early Childhood Field Offices a 42-story, 1.1 million-square-foot Fidelity Biosciences, Panorama Capital, Floral Park, L.I. to implement the Universal building owned by SL Green Realty Kearny Venture Partners Filed for Chapter 11 bankruptcy Prekindergarten Program in New York Corp. The space is on the 20th floor. Tri-Diamond $30.9 Corporate Resource Services Inc. SB M&A protection on Jan. 10. The filing cites City districts with a high need for Don Preate and Jamie Katcher of Staffing Inc. (Manhattan) (Manhattan) estimated liabilities of $10,000,001 to prekindergarten seats. This opportunity Cushman & Wakefield represented EnviroMission Ltd. $29.8 AGS Capital Group GCI $50 million and estimated assets of is open to providers serving any of New the tenant, while Howard Tenenbaum (Manhattan) $1,000,001 to $10 million. Among the York City’s 32 community school and Gary Rosen represented the Rib-X $20.0 Warburg Pincus GCI creditors with the largest unsecured districts; providers serving districts 4, 7, landlord in-house. The asking rent Pharmaceuticals Inc. (Manhattan) claims are Anna Vegas Roldan, owed 9, 12, 16, 23 and 32, and sites accredited wasn’t disclosed. Acadia $15.0 New Enterprise Associates, GCI $700,000; Paul and Gail Horner, owed by the National Association for the Pharmaceuticals Inc. Venrock (Manhattan), $500,000; and Gabriel Nochlin- Education of Young Children are ● F.A.F. Inc. signed a 10-year lease for Baker Brothers Investments Gargari, owed $216,000. strongly encouraged to apply. A pre- 11,000 square feet at 411 Fifth Ave., an (Manhattan) proposal conference will be held at 11-story, 121,000-square-foot building Viridity Energy Inc. $13.5 Intel Capital, Braemar Energy Ventures GCI 1 p.m. on Jan. 27 at Brooklyn Borough owned by 411 Fifth Avenue Associates. (Manhattan) GOVERNMENT CONTRACT Hall, 209 Joralemon St., court room. To ABS Partners Real Estate represented Selected deals announced for the week ended Jan. 16 involving companies in metro New York. OPPORTUNITIES download the solicitation, visit the tenant, while David Levy of Adams GCI: Growth capital investment represents new money invested in a company for a minority https://vendorportal.nycenet.edu. To & Co. negotiated on behalf of the stake. SB M&A: Strategic buyer M&A represents a minority or majority acquisition of existing Following are selected contract make inquiries, send an e-mail to landlord. The asking rent was $39 a shares of a company without the participation of a financial buyer. source: capitaliq opportunities recently announced by New [email protected], square foot. January 24, 2011 | Crain’s New York Business | 15 CN014198 1/20/11 11:35 AM Page 1 YOUR BIG EVENT DESERVES AN AUDIENCE. LET CRAIN'S HELP YOU FILL THE SEATS. Crain's EVENTS CALENDAR has been completely redesigned to help you effectively find the right audience for your next big event. This interactive, user-friendly destination was created to help you, the event manager, get maximum exposure for your event and ultimately, sell more tickets. New features include: • Additional promotion throughout crainsnewyork.com for Featured Events • Opportunity to upgrade and guarantee your event in the print edition of Crain's New York Business • Ability to edit your event once posted To see all the new features and post your next event, go to www.crainsnewyork.com/events 20110124-NEWS--0017-NAT-CCI-CN_-- 1/21/2011 7:46 PM Page 1 Ron Perelman vs. Don Drapkin HOW INVESTORS HAVE FARED “WITH RARE EXCEPTION, anyone who bought stock in a company when Continued from Page 1 In September of that year, less for $3 billion. They bought a Cali- [Ronald] Perelman took control of it, or who invested in the initial public Above all else, the duo made than five months after Mr. Drapkin fornia bank in 1998 for $1.2 billion offering of a Perelman concern, has made gobs of money.” many, many deals together. After departed, his other vice chairman, and sold the operation four years lat- teaming up in the mid-1980s, they Howard Gittis,died at 73.Mr.Perel- er to Citigroup for $5.8 billion. Those words were written by prominent financial columnist Allan Sloan in bought and sold dozens of compa- man called Mr. Gittis his “closest In his deposition last year, Mr. Money magazine—back in 1994. nies:Revlon,Marvel Entertainment friend and most trusted adviser” and Drapkin said that under a contract Recent years, however, haven’t been kind to people who’ve tried to hitch Group, banks, baseball card makers, eulogized him with the words,“If we negotiated with Mr. Gittis, he pock- their wagon to Mr. Perelman’s star by investing in his publicly traded camping equipment manufacturers, were gay, we’d have been married.” eted 3% of “any deal we did” and 8% companies. Many of those businesses have struggled mightily in recent check printers, defense contractors, (That wasn’t all Mr. Perelman of “any deal I brought in.” His base years, including 2010, even as the stock market staged a broad revival. film processors, medical laborato- was coping with. In June 2007, his salary was $15 million per year, ac- Since late 2007, the stock price of Mr. Perelman’s largest public company ries,lottery operators,television sta- ex-wife Ms. Cohen died of cancer; cording to a 2002 employment by market value, lottery operator Scientific Games Corp., has fallen 71%. tions and more. Mr. Perelman be- he hosted the Jewish ritual week- agreement. Shares of M&F Worldwide Corp., which does everything from print bank came one of the world’s wealthiest long gathering of mourners at his Of course, there were bumps checks to make licorice flavoring for tobacco companies, have declined 59%. men;Mr.Drapkin,his vice chairman townhouse. At the time, he was also along the way—perhaps most no- And shares in cosmetics company Revlon Inc. have slid 11%. Over the same and vital behind-the-scenes force. locked in litigation with movie star tably Marvel, which filed for bank- time period, the Russell 2000 index of small-cap stocks has risen 3%. Ellen Barkin, whom he’d divorced ruptcy five years after Mr. Perelman Another Perelman-owned company, Siga Technologies Inc., has seen its the previous year.) acquired it in 1989 for $82 million. shares soar 50% since last October, when the federal government awarded it ‘Love you’ Neither Mr. Drapkin nor his Nevertheless, a judge later deter- a $2.8 billion contract to make a treatment for smallpox. However, the THE GOOD TIMES were very much on lawyer, Elkan Abramowitz, would mined that Mr.Perelman had pock- contract is in limbo now that the U.S. Small Business Administration has Mr. Drapkin’s mind when he went comment on pending litigation.Mr. eted $280 million by paying himself weighed in, ruling that Siga doesn’t qualify as a small business for contract to his office high atop Rockefeller Perelman and members of his legal dividends, according to the book set-aside purposes. That’s because Siga, with approximately $20 million in Center one morning in December and public relations team also de- Comic Wars. revenue in 2010, is owned by Mr. Perelman’s privately controlled holding 2008 and sent Mr. Perelman an e- Revlon, while still a respected company, MacAndrews & Forbes—whose 2009 organization chart was 19 mail. The night before, the two had consumer brand, has been a bust for pages long, according to a federal court document. Siga is appealing. met at Le Bilboquet, a bistro across most shareholders, due in part to In a 2008 video interview with the Financial Times, Mr. Perelman spelled from Mr. Perelman’s home, de- heavy debt burdens and frequent out his investment philosophy. scribed in Zagat as a “loud, tight changes in management. Terry mullen “We like simple companies that are low-tech, non-fashion, non-fad, non- c space” filled with “beautiful, air- Dwyer, an analyst at KDP Invest- cyclical, non-capital-intensive basic industries, basic businesses that have kissing” folks. ment Advisors, says Mr. Perelman been there a long time,” he said. “I would foresee looking at the same kind of “I loved having drinks with you made a hefty profit a decade ago by newscom patrick m patrick things—not particularly sexy businesses, not particularly attractive to the bulk for the holidays. It made me feel Perelman Drapkin buying back the cosmetics compa- great,”Mr.Drapkin wrote.“I remain ny’s debt from investors at a steep of buyers, but attractive to us.” your friend and love you … and want discount. Since Mr. Perelman took —AARON ELSTEIN things to go back to normal.” A messy end for the company public in 1996, But “normal” had ended in Revlon’s share value has fallen 96%. spring 2007, when the two partners one of NY’s Mr. Perelman was relatively qui- away any responsibility,” he said in arranged at the behest of actress had a bitter falling-out and Mr. et during the past decade as big his deposition. He added that Mr. Lorraine Bracco, a friend to both Drapkin left Mr. Perelman after great business leveraged buyouts became fashion- Perelman,never the easiest person to men. (Ms. Bracco didn’t respond to more than 20 years.Two months af- able again, and his peers from the get along with, had become “mon- a request for comment.) ter the attempted reconciliation partnerships 1980s, such as The Blackstone strously abusive to me” starting in Mr. Perelman brought Barry over drinks, Mr. Drapkin sued, Group’s Stephen Schwarzman and 1999 or 2000. To others as well, ap- Schwartz, whom he’d appointed claiming he was owed $18 million in Kohlberg Kravis Roberts & Co.’s parently: In his deposition, Mr. vice chairman after Mr. Gittis’ unpaid compensation. Henry Kravis, built much larger op- Drapkin recalled that Mr. Perelman death,and the conversation was cor- Mr. Perelman countersued for erations. He was covered less in the “had screamed unmercifully at some dial until Mr.Schwartz left.But Mr. breach of contract and claimed he clined to comment,except in one in- business pages and more by tabloids handyman or something putting in a Perelman laid into Mr. Drapkin owed nothing. Then he sought evi- stance, noted below. This article is that eagerly divulged the details of lightbulb the wrong way.” soon after his former partner start- dence that Mr. Drapkin had violat- based largely on publicly available his divorces from Ms. Barkin and “[Colleagues] all said to me,‘How ed talking about how busy he was at ed a non-disparagement agreement, court documents, including deposi- Patricia Duff. can you take this?’ ” Mr. Drapkin re- his new firm. according to a letter from Mr.Drap- tions from the two former partners. Perhaps Mr. Perelman’s biggest ported.“Mr.Gittis begged me on nu- kin’s lawyers filed in court. Mr. Both men were rising stars when business news in recent years merous occasions to just walk out.” Perelman served subpoenas to Mr. they met in the early 1980s.When he stemmed from his disastrous 1998 The tipping point came in 2007, Hello, Mr. Jordan Drapkin’s son and nearly a dozen joined forces with Mr.Perelman,Mr. sale of The Coleman Co. to Sun- when, Mr. Drapkin said in his dep- “ ‘I THOUGHT YOU were gonna help us other people, including lawyers, in- Drapkin was a 38-year-old partner at beam Corp. for $2 billion in cash osition, Mr. Perelman was nearly at Lazard,’ ” Mr. Perelman recalled vestment bankers, socialites and the Skadden Arps Slate Meagher & and stock. When Sunbeam later paralyzed after an epidural nicked saying to Mr. Drapkin, according to brother of one of Mr. Perelman’s Flom—“the hottest young takeover collapsed amid an accounting scan- his spine and he was treated with his deposition, meaning he wanted four ex-wives. lawyer in America,” according to a dal,Mr.Perelman alleged that Mor- “massive doses” of progesterone. (A Lazard to bring him potential deals. The subpoenas have “made for a 1986 New York magazine profile.Mr. gan Stanley bankers had misled lawyer for Mr. Perelman describes “ ‘That’s what you keep telling me: good laugh line in cocktail parties,” Perelman was a magnate on the make him. A Florida jury awarded Mr. the medical information in Mr. You’re gonna help us. Why are you Robert Torricelli,a former New Jer- who had mastered the art of financ- Perelman $1.5 billion in damages in Drapkin’s deposition as “false.”) telling me now—’cause you guys are sey senator,told Crain’s.He suspects ing hostile takeovers with junk 2005,but the verdict was overturned Mr. Perelman said in his deposi- meaningless over there, and nobody that he was subpoenaed because he bonds, stripping down companies on appeal. Mr. Perelman is seeking tion that he spoke by phone to Mr. cares about you.’ was seen greeting Mr. Drapkin—a and selling them for big profits. to have the case reopened. Drapkin,who told him,“I don’t want “So that seems like a funny way to “dear friend”—at a restaurant in The partnership between the es- to do this anymore.”His reply:“Well, do business, but OK,” Mr. Perelman Englewood, N.J., shortly after the tablishment lawyer and the upstart then you should just finish up.” continued. “And I got up and left.” split with Mr. Perelman. corporate raider created opportuni- Things change Mr.Drapkin remembered things The next morning, Mr. Drapkin The legal dispute,being heard be- ties for both men. Mr. Drapkin vet- BEHIND THE SCENES, Mr. Perelman differently.In his deposition,he said wrote his “love you” e-mail. In an ef- fore a Manhattan federal judge, also ted deals for Mr. Perelman and of- was becoming unhappy with Mr. he told Mr. Gittis, “I just can’t take fort to broker peace, Lazard CEO includes a third suit (from Mr.Drap- ten sat on the boards of companies Drapkin, according to Mr. Perel- it anymore.” Then, “Ronald called Bruce Wasserstein dispatched senior kin, seeking another $5 million) and that his boss bought. man’s deposition.Although his firm me up and he said: ‘OK, you can executive Vernon Jordan to smooth is expected to be resolved soon; both “He had very good relationships was still getting pitched deals regu- have it your way; I’ll let you out, but things over with Mr. Perelman. But sides have rested their cases. on Wall Street,” Mr. Perelman said larly as late as 2006—that year, Mr. it won’t be pretty,’ screaming at the Mr. Perelman said “it had gone too The hundreds of pages of court in a deposition last year.“He was ba- Perelman considered buying auto top of his lungs.” far” and Mr. Drapkin was a “naughty documents generated by the battle sically our liaison with the invest- parts retailer Pep Boys, the Pabst He quickly found a senior posi- boy,” according to Mr. Drapkin’s provide a rare glimpse into Mr. ment banking community.” and Rolling Rock breweries, and a tion at investment bank Lazard. In a deposition. Neither Lazard nor Mr. Perelman’s business dealings and his With Mr. Drapkin’s network of provider of hotel-room video, ac- May 1, 2007, press release, Mr. Jordan would comment. private holding company, a onetime contacts and Mr. Perelman’s check- cording to a court document—the Perelman thanked Mr. Drapkin for The legal war soon erupted. It candy maker called MacAndrews & book,the two became a deal machine. boss concluded by 2007 that Mr. doing “a terrific job” and said, “We isn’t clear precisely when the judge Forbes,of which he owns 100%.The Just a few highlights: In 1988, Drapkin’s dedication had slipped. will miss him.” Later, in his deposi- will rule on Mr. Drapkin’s motion documents also offer details about they sold Technicolor for an esti- “I became dissatisfied with his tion, Mr. Perelman called his warm for summary judgment. how 68-year-old Mr.Perelman built mated $650 million profit just five performance,” Mr. Perelman said in remarks “a puff aspect”of the release. “A person goes through life with his vast fortune—estimated by years after Mr. Perelman bought it. his deposition. “He started spend- After the split,Mr.Drapkin said, only a few friends that you can be that Forbes at $11 billion—and how They assembled a group of TV sta- ing more time on his own invest- Mr.Perelman refused to return calls, close to,” Mr. Drapkin said in his some of his longest business part- tions called New World Communi- ments than he did on MacAndrews’ and the two became almost totally deposition, explaining why he tried nerships abruptly ended, just when cations Group for about $1.2 billion investments.” estranged.Finally,on Dec.15,2008, to reconcile with Mr. Perelman be- the financial markets were begin- during the early ’90s and sold it to Mr. Drapkin insisted that he was they met after work at Le Bilboquet fore he sued him.“I never understood ning to collapse in 2007. Rupert Murdoch a few years later marginalized. “He one by one took for drinks, a meeting that was how you could throw them away.” Ⅲ January 24, 2011 | Crain’s New York Business | 17 nb04p18-19cl.qxp 1/21/11 3:23 PM Page 18 COMMERCIAL REAL ESTATE/AUCTION PUBLIC & LEGAL NOTICES Notice of Qualification of H.C. Starck Notice of Qualification of Morgan Notice of Qualification of Inland BANKRUPTCY AUCTION North American Trading, LLC. Stanley HedgePremier/Millennium Diversified Real Estate Services LLC. Authority filed with NY Dept. of State USA II LP. Authority filed with NY Authority filed with NY Dept. of State East Beach Development Land on 12/29/10. Office location: NY Dept. of State on 11/8/10. Office on 12/6/10. Office location: NY County. Princ. bus. addr.: 45 Industrial location: NY County. Princ. bus. County. Princ. bus. addr.: 2901 Galveston, Texas Adjacent to Palisade Palms Place, Newton, MA 02461. LLC addr.: 522 Fifth Ave., 13th Fl., NY, NY Butterfield Rd., Oak Brook, IL 60523. formed in DE on 9/29/09. NY Sec. of 10036. LP formed in DE on 11/4/10. LLC formed in DE on 8/8/08. NY Sec. Wednesday, February 23 at 2:00 p.m. State designated agent of LLC upon NY Sec. of State designated agent of State designated agent of LLC whom process against it may be of LP upon whom process against it upon whom process against it may Invest in a community on the Gulf of Mexico. 15± acres of land served and shall mail process to: c/o may be served and shall mail be served and shall mail process to: adjoin Palisade Palms, a Galveston high-rise development with 288 CT Corporation System, 111 8th process to: c/o CT Corporation c/o CT Corporation System, 111 8th condominium units that are essentially sold out. Acreage will be sold as Ave., NY, NY 10011, regd. agent System, 111 8th Ave., NY, NY 10011, Ave., NY, NY 10011, regd. agent upon whom process may be served. regd. agent upon whom process may upon whom process may be served. a whole or in four tracts. (U.S. Bankruptcy Case #10-80395-H3-11.) DE addr. of LLC: 1209 Orange St., be served. DE addr. of LP: 1209 DE addr. of LLC: c/o The Corporation Auction Location: Central Tower, Four Oaks Place Of ce Complex Wilmington, DE 19801. Cert. of Orange St., Wilmington, DE 19801. Trust Co., 1209 Orange St., Auditorium, 1st Floor Form. filed with DE Sec. of State, Name/addr. of genl. ptr. available Wilmington, DE 19801. Cert. of Form. 401 Federal St., Dover, DE 19901. from NY Sec. of State. Cert. of LP filed with DE Sec. of State, 401 1330 Post Oak Blvd. Purpose: any lawful activity. filed with DE Sec. of State, 401 Federal St., Dover, DE 19901. Houston, TX 77056 Federal St., Dover, DE 19901. Purpose: any lawful activity. In order to participate in the auction, pre-bids and nancials are required by Feb. 16, 2011. LAND YOGA, LLC, a domestic Purpose: any lawful activity. Visit www.AuctionGalveston.com for bidding procedures, terms & conditions. Notice of Formation of a Limited Scott Swenson TX Auc#7809 TX Broker #0425652 7% Buyers Premium Limited Liability Company (LLC), filed with the Sec of State of NY on Notice of Formation of ATTO, LLC. Liability Company (LLC): Name: Visit www.AuctionGalveston.com for more information. 12/17/10. NY Office location: New Arts. of Org. filed with Secy. of State EVENTUS PARTNERS LLC, Articles York County. SSNY is designated as of NY (SSNY) on 12/15/10. Office of Organization filed with the agent upon whom process against location: NY County. SSNY Secretary of State of New York the LLC may be served. SSNY shall designated as agent of LLC upon (SSNY) on 10/22/2010. Office loca- BUSINESS PUBLIC & mail a copy of any process against whom process against it may be tion: New York County. SSNY has the LLC served upon him/her to The served. SSNY shall mail process to been designated as agent of the LLC OPPORTUNITY LEGAL NOTICES LLC, c/o Lara Lauchheimer, 2367 c/o MontaguLaw, P.C., 1120 Ave. of upon whom process to: C/O EVEN- Douglass Blvd., Apt. 1B, NY, NY the Americas, 4th Fl., NY, NY 10036. TUS PARTNERS LLC, 1583 1st Ave Notice of Qual. of Anthion Opportunity 10027. General Purposes. Purpose: Any lawful activity. Apt. 4C, New York, NY 10028. Purpose: Any Lawful Purpose. Latest NEW HOPE, PA. Ctr of town. Fund, LP, Auth. filed Sec’y of State date upon which LLC is to dissolve: Restaurant/Bar/Inn for lease or JV. High vol- (SSNY) 12/22/10. Office loc.: NY Notice of Formation of Pelpar Capital Notice of Formation of 16 EAST 73RD No specific date. ume traffic area. No key money(lease). Great County. LP org. in DE 12/17/10. SSNY LLC, Art. of Org. filed Sec’y of State STREET LLC. Arts. of Org. filed with opp’ty for chef/partner. Call 212-532-2990. desig. as agent of LP upon whom (SSNY) 12/10/10. Office location: NY Secy. of State of NY (SSNY) on process against it may be served. County. SSNY designated as agent 12/17/10. Office location: NY County. Notice of Qual. of UNA-USA, LLC. SSNY shall mail copy of proc. to Att: of LLC upon whom process against SSNY designated as agent of LLC Auth. filed Sec’y of State (SSNY) David Moradi, 160 Mercer St., 2nd Fl., it may be served. SSNY shall mail upon whom process against it may 10/6/10. Office loc.: NY County. LLC NY, NY 10012. DE off. addr.: CSC, copy of process to c/o Kriss & be served. SSNY shall mail process org. in DE 8/12/10. SSNY desig. as PUBLIC & 2711 Centerville Rd., Wilmington, DE Feuerstein LLP, 360 Lexington Ave., to: c/o Brittany Management Corp., agent of LLC upon whom process 19808. Cert. of LP on file: SSDE, S. 1200, NY, NY 10017. Purpose: any 14 E. 73rd St., Ste. 1A, NY, NY 10021. against it may be served. SSNY shall LEGAL NOTICES Townsend Bldg., Dover, DE 19901. lawful activities. Purpose: any lawful activity. mail copy of proc. to NRAI, 875 Ave Name/addr. of each gen. ptr. avail. at of the Americas, NY, NY 10001. DE SSNY. Purp.: any lawful activities. CHELSEA 100 GARAGE LLC, a off. addr.: 160 Greentree Dr., Ste. 101, 664 EIGHTH AVE 156 LLC, a Notice of Formation of Halo Capital domestic Limited Liability Company Dover, DE 19904. Cert. of Form. on domestic Limited Liability Company VI, LLC. Arts. of Org. filed with Secy. Notice of Formation of LTD EDITIONS I (LLC), filed with the Sec of State of file: SSDE, Townsend Bldg., Dover, (LLC), filed with the Sec of State of of State of NY (SSNY) on 12/31/10. LLC. Arts. of Org. filed with NY Dept. NY on 12/9/10. NY Office location: DE 19901. Purp.: any lawful activities. NY on 9/21/10. NY Office location: Office location: NY Co. SSNY desig- of State on 1/7/11. Office location: New York County. SSNY is designated New York County. SSNY is desig- nated as agent of LLC upon whom NY County. Princ. bus. addr.: 27 E. as agent upon whom process against Notice of Formation of 7E86 REALTY nated as agent upon whom process process against it may be served. 61st St., NY, NY 10065. Sec. of State the LLC may be served. SSNY shall LLC. Arts. of Org. filed with Secy. of against the LLC may be served. SSNY shall mail process to: Joe designated agent of LLC upon whom mail a copy of any process against State of NY (SSNY) on 12/15/10. SSNY shall mail a copy of any Robinson, 832 Broadway #6, NY, NY process against it may be served the LLC served upon him/her to Office location: NY County. Princ. process against the LLC served 10003. Purpose: any lawful activities. and shall mail process to: c/o Lichter Steinberg & Pokoik Management office of LLC: 770 Lexington Ave., upon him/her to Registered Agents Gliedman Offenkrantz PC, 551 5th Corp., 575 Madison Ave., 7th Fl., NY, 18th Fl., NY, NY 10065. Latest date Legal Services, LLC, 1220 N. Market Ave., 24th Fl., NY, NY 10176, Attn: Notice of Formation of AM STERN NY 10022. General Purposes. on which the LLC may dissolve is St., Ste. 806, Wilmington, DE 19801. Kenneth Gliedman, Esq. Purpose: CAPITAL, LLC. Arts. of Org. filed with 12/31/2035. SSNY designated as General Purposes. any lawful activity. Secy. of State of NY (SSNY) on Notice is hereby given that a license agent of LLC upon whom process 01/06/11. Office location: NY County. (#TBA) for BEER & WINE has been against it may be served. SSNY The Acadian Group LLC filed Arts of Notice of Formation of Icer 18 Canada SSNY designated as agent of LLC applied for by LIMELIGHT SUSHI shall mail process to the LLC at the Org with the Secy of State of NY LLC, Art. of Org. filed Sec’y of State upon whom process against it may LLC, at retail, in a Restaurant, under addr. of its princ. office. Purpose: (SSNY) on 7/2/2010. Located in NY (SSNY) 3/23/10. Office location: NY be served. SSNY shall mail process the ABC Law at 49 W.20 ST, SPACE Any lawful activity. Co. SSNY has been designated as County. SSNY designated as agent of to Timothy P. Terry, 667 Madison #85 NY, NY 10011 for on-premises agent upon whom process against it LLC upon whom process against it Ave., 24th Fl., NY, NY 10065. consumption. Notice of Formation of ANNA M. may be served and SSNY shall mail may be served. SSNY shall mail copy Purpose: Any lawful activity. CASTELLI MD PLLC. Arts. of Org. a copy of any process against the of process to c/o Ruchelman Law HOME 127 LLC, a domestic Limited filed with Secy. of State of NY LLC to princ. business address 304 Firm, 150 E. 58th St., 14th Fl., NY, NY Notice of Formation of ETS CAPITAL Liability Company (LLC), filed with (SSNY) on 01/11/11. Office location: Park Ave. So., 11th Fl., NY, NY 10155. Purpose: any lawful activities. II, LLC. Arts. of Org. filed with Secy. the Sec of State of NY on 11/18/10. NY County. Princ. office of PLLC: 70 10010. Purpose: any lawful acts. of State of NY (SSNY) on 01/04/11. NY Office location: New York County. Grand Ave., River Edge, NJ 07661. Notice of Formation of Jemal Children Office location: NY County. SSNY SSNY is designated as agent upon SSNY designated as agent of PLLC Notice of Formation of Madison/Putnam LLC. Articles of Org. filed with Secy. designated as agent of LLC upon whom process against the LLC may upon whom process against it may Manager LLC. Arts. of Org. filed with of State of NY (SSNY) on 12/07/10. whom process against it may be be served. SSNY shall mail a copy be served. SSNY shall mail process NY Dept. of State on 3/2/10. Office Office loc.: New York Co. SSNY des- served. SSNY shall mail process to of any process against the LLC to Anna M. Castelli, 48 E. Central location: NY County. Sec. of State ignated as agent of LLC upon whom Timothy Terry, 667 Madison Ave., served upon him/her to The LLC, Blvd., Palisades Park, NJ 07650. designated agent of LLC upon whom process against it may be served. 24th Fl., NY, NY 10065. Purpose: 2080 Lexington Ave, Lobby, NY, NY Purpose: Any lawful activity. process against it may be served and SSNY shall mail process to the LLC, Any lawful activity. 10035. General Purposes. shall mail process to the principal c/o Robinson Brog, et al., Attn: David Notice of Qualification of DYNAMIC business addr.: c/o CPC Resources, Blumenthal, Esq., 875 Third Ave., 9th Notice of Qualification of TIEDEMANN NOTICE OF FORMATION OF CREDIT ANALYTICS, LLC. Authority Inc., 28 E. 28th St., 9th Fl., NY, NY Fl., New York, NY 10022-0123. WEALTH MANAGEMENT GP, LLC. Compass Accounting Strategies, filed with Secy. of State of NY 10016. Purpose: any lawful activity. Purpose: any lawful act or activity. Authority filed with Secy. of State of NY LLC. Article of Organization filed (SSNY) on 12/07/10. Office location: (SSNY) on 12/21/10. Office location: with the Secretary of State of NY NY County. LLC formed in Delaware Notice of Qual. of 2 Herald Owner Notice of Formation of SPINELLI NY County. LLC formed in Delaware (SSNY) on 11/9/2010. Office location (DE) on 09/25/06. Princ. office of LLC: LLC, Auth. filed Sec’y of State LLC. Arts. of Org. filed with Secy. of (DE) on 12/03/10. Princ. office of LLC: NEW YORK County. SSNY has been Attn: James K. Finkel, 1500 Broadway, (SSNY) 12/16/10. Office loc.: NY State of NY (SSNY) on 12/09/10. 520 Madison Ave., 26th Fl., NY, NY designated as agent upon whom Ste. 1107, NY, NY 10036. SSNY des- County. LLC org. in DE 12/14/10. Office location: NY County. SSNY 10022. SSNY designated as agent of process against it may be served. ignated as agent of LLC upon whom SSNY desig. as agent of LLC upon designated as agent of LLC upon LLC upon whom process against it The Post Office address to which process against it may be served. whom process against it may be whom process against it may be may be served. SSNY shall mail the SSNY shall mail a copy of any SSNY shall mail process to the LLC served. SSNY shall mail copy of proc. served. SSNY shall mail process to process to Corporation Service Co., process against the LLC served at the princ. office of the LLC. DE to NRAI, 875 Ave of the Americas, Corporation Service Co., 80 State 80 State St., Albany, NY 12207-2543. upon him/her is C/O the LLC 457 addr. of LLC: c/o National Registered NY, NY 10001, the Reg. Agt. upon St., Albany, NY 12207, regd. agent DE addr. of LLC: 1201 N. Market St., West 57th Street, Suite 708, New Agents, Inc., 160 Greentree Dr., Ste. whom proc. may be served. DE off. upon whom and at which process Ste. 1406, Wilmington, DE 19801. Arts. York, NY 10019. Purpose of LLC: to 101, Dover, DE 19904. Arts. of Org. addr.: 160 Greentree Dr., Ste. 101, may be served. As amended by of Org. filed with Secy. of State of engage in any lawful act or activity. filed with Secy. of the State of DE, Dover, DE 19904. Cert. of Form. on Cert. of Amendment filed with SSNY DE, Div. of Corps., John G. Townsend Street address of Principal Business Corp. Dept., Loockerman & Federal file: SSDE, Townsend Bldg., Dover, DE on 01/07/11, the County location is Bldg., 401 Federal St., Dover, DE location is: 457 West 57th Street, Sts., Dover, DE 19901. Purpose: Any 19901. Purp.: any lawful activities. Erie. Purpose: Any lawful activity. 19901. Purpose: Any lawful activity. Suite 708, New York, NY 10019. lawful activity. 18 | Crain’s New York Business | January 24, 2011 nb04p18-19cl.qxp 1/21/11 3:23 PM Page 19 PUBLIC & LEGAL NOTICES K2 SPIRITS IMPORTERS, LLC, a Notice of Qualification of WTC Tower 1 Notice of Qualification of RLJ III - DBT Notice of Qualification of RealTick Notice of Qualification of KEENE domestic Limited Liability Company LLC. Authority filed with NY Dept. of Metropolitan Manhattan, LP. Authority LLC. Authority filed with Secy. of CONSULTING ARIZONA LLC. (LLC), filed with the Sec of State of State on 11/29/10. Office location: filed with Secy. of State of NY (SSNY) State of NY (SSNY) on 12/09/10. Authority filed with Secy. of State of NY on 9/22/10. NY Office location: NY County. LLC formed in DE on on 12/14/10. Office location: NY Office location: NY County. LLC NY (SSNY) on 11/24/10. Office loca- New York County. SSNY is desig- 9/2/10. NY Sec. of State designated County. LP formed in Delaware (DE) formed in Delaware (DE) on tion: NY County. LLC formed in nated as agent upon whom process agent of LLC upon whom process on 12/8/10. SSNY designated as 11/19/10. Princ. office of LLC: 1633 Delaware (DE) on 11/09/10. SSNY against the LLC may be served. against it may be served and shall agent of LP upon whom process Broadway, 48th Fl., NY, NY 10019. designated as agent of LLC upon SSNY shall mail a copy of any mail process to the principal business against it may be served. SSNY shall SSNY designated as agent of LLC whom process against it may be process against the LLC served addr.: The Port Authority of New York mail process to: c/o National Registered upon whom process against it may served. SSNY shall mail process to upon him/her to The LLC, 64 Fulton and New Jersey, 225 Park Ave. So., Agents, Inc., 875 Avenue of the be served. SSNY shall mail process the LLC, P.O. Box 270, NY, NY St., Ste. 304, New York, NY 10038. 15th Fl., NY, NY 10003, Attn: Darrell Americas, Ste. 501, NY, NY 10001, to c/o Corporation Service Co. 10021. DE addr. of LLC: c/o General Purposes. Buchbinder, General Counsel. DE also the registered agent. DE address (CSC), 80 State St., Albany, NY Corporation Service Co., 2711 addr. of LLC: 1209 Orange St., of LP: 160 Greentree Dr., St 101, 12207-2543. DE addr. of LLC: c/o Centerville Rd., Ste. 400, Wilmington, Notice of Formation of Nest Two Bee Wilmington, DE 19801. Cert. of Dover, DE 19904. Name/address of CSC, 2711 Centerville Rd., Ste. 400, DE 19808. Arts. of Org. filed with LLC. Articles of Org. filed with Secy. Form. filed with DE Sec. of State, genl. ptr. available from SSNY. Cert. Wilmington, DE 19808. Arts. of Org. Jeffrey W. Bullock, DE Secy. of State, of State of NY (SSNY) on 12/21/10. 401 Federal St., Dover, DE 19901. of LP filed with DE Secy. of State, filed with Secy. of State, DE Div. of 401 Federal St., #3, Dover, DE Office loc.: New York Co. SSNY des- Purpose: any lawful activity. 401 Federal St., Ste. 4, Dover, DE Corps., John G. Townsend Bldg., 19901. Purpose: Any lawful activity. ignated as agent of LLC upon whom 19901. Purpose: any lawful activities. 401 Federal St., Ste. 4, Dover, DE process against it may be served. FIVE POINTS REMODELING LLC, a 19903. Purpose: Any lawful activity. Notice of Formation of GOOD THURS- SSNY shall mail process to the LLC, domestic Limited Liability Company NOTICE OF FORMATION of Varick DAY LLC. Arts. of Org. filed with Secy. Attn: Debra Zegelstein, 166 East 63rd (LLC), filed with the Sec of State of NY Asset Management LLC. Arts of Org Notice of Formation of Loventhal of State of N.Y. (SSNY) on 10/21/10. St., Unit 2B, New York, NY 10065. on 11/30/10. NY Office location: New filed with the Secy of State of NY Silver Manhattan LLC. Articles of Office location: New York County. Purpose: any lawful act or activity. York County. SSNY is designated as (SSNY) on 9/23/10. Office loc: NY Org. filed with Secy. of State of NY SSNY designated as agent of LLC agent upon whom process against County. SSNY has been designated (SSNY) on 06/02/2002. Office loc.: upon whom process against it may JLOW LLC Articles of Org. filed NY the LLC may be served. SSNY shall as an agent upon whom process may New York Co. SSNY designated as be served. SSNY shall mail process Sec. of State (SSNY) 6/7/2010. mail a copy of any process against be served and shall mail a copy of any agent of LLC upon whom process to: c/o Hirschen Singer & Epstein LLP, Office in NY Co. SSNY desig. agent the LLC served upon him/her to The process to: 19 Beach St, #3 NY, NY against it may be served. SSNY shall 902 Broadway, 13th Fl., New York, NY of LLC upon whom process may be LLC, 141 E. 33rd St., Apt. 3B, NY, 10013. Principal business address: mail process to the LLC, c/o 10010. Purpose: any lawful activity. served. SSNY shall mail copy of NY 10016. General Purposes. 17 State St., Ste 3800 NY, NY 10004. Alexander Hidalgo Inc., 135 West process to c/o William J. Lavelle, Jr., Purpose: any lawful acts. 72nd Street, New York, NY 10023. JOAN MERRILL LLC Articles of Org. 81 Barrow St., NY, NY 10014. Notice of Qual. of MREP VII-T H2, LLC, Purpose: any lawful act or activity. filed NY Sec. of State (SSNY) Purpose: Any lawful purpose. Auth. filed Sec’y of State (SSNY) Notice of Formation of LB ONE LLC. 12/15/2010. Office in NY Co. SSNY 7/30/10. Office loc.: NY County. LLC Arts. of Org. filed with Secy. of State Notice of Formation of Renatus desig. agent of LLC upon whom org. in DE 7/28/10. SSNY desig. as of NY (SSNY) on 12/10/10. Office Notice of Formation of MW Products, Southgate LLC. Arts. of Org. filed process may be served. SSNY agent of LLC upon whom process location: NY County. Princ. office of LLC. Arts. of Org. filed with NY Dept. with Secy. of State of NY (SSNY) on shall mail copy of process to 1435 against it may be served. SSNY shall LLC: 482 Woodlands Rd., Harrison, of State: 12/8/10. Office loc.: NY 5/10/10. Office location: NY County. Lexington Ave., Apt. 2F, NY, NY mail copy of proc. to Attn: Felipe NY 10528. SSNY designated as County. Princ. bus. addr.: 49 W. 38th SSNY designated as agent of LLC 10128, which is also the principal Dorregaray, 135 E. 57th St., 16th Fl., agent of LLC upon whom process St., 2nd Fl., NY, NY 10018. Sec. of upon whom process against it may business location. Purpose: Any NY, NY 10022. DE off. addr.: CSC, against it may be served. SSNY shall State designated agent of LLC upon be served. SSNY shall mail process lawful purpose. 2711 Centerville Rd., Wilmington, DE mail process to the LLC, c/o Donna whom process against it may be to: c/o Alter Mantel, 90 Park Avenue, 19808. Cert. of Form. on file: SSDE, Lagani at the princ. office of the LLC. served and shall mail process to: c/o 35th Fl., NY, NY 10016, Attn: Notice of Formation of LINCOLN 63 Townsend Bldg., Dover, DE 19901. Purpose: Any lawful activity. Aleena R. Shapiro, Esq., Hartman & Lawrence Hansen, Esq.. Purpose: PARKING LLC. Arts. of Org. filed Purp.: any lawful activities. Craven, LLP, 488 Madison Ave., NY, NY any lawful activity. with Secy. of State of N.Y. (SSNY) on 10022. Purpose: any lawful activity. Notice of Formation of RUSTY CHIP, 12/23/10. Office location: New York NOTICE OF FORMATION of Lori LLC. Arts. of Org. filed with Secy. Notice of Formation of O’Herron County. SSNY designated as agent of Notice of Formation of Gotham 149 Farber Designs LLC. Arts of Org filed of State of NY (SSNY) on 11/23/10. Grandchildren’s LLC. Arts. of Org. LLC upon whom process against it Realty LLC. Arts. of Org. filed with with the Secy of State of NY (SSNY) Office location: NY County. SSNY filed with NY Dept. of State on may be served. SSNY shall mail Secy. of State of NY (SSNY) on on 10/26/10. Office loc: NY Cty. designated as agent of LLC upon 12/10/10. Office location: NY County. process to: c/o Icon Parking Systems, 11/30/10. Office location: NY County. SSNY designated as an agent upon whom process against it may be Sec. of State designated agent of 211 East 38th Street, New York, NY SSNY designated as agent of LLC whom process may be served and served. SSNY shall mail process to LLC upon whom process against it 10016. Purpose: any lawful activity. upon whom process against it may shall mail a copy of any process to: Nancy H. Feinberg, 131 Prince St., may be served and shall mail be served. SSNY shall mail process 101 N. Brand Blvd, 10th Fl, Glendale, #3, NY, NY 10012. Purpose: Any process to the principal business Notice of Formation of 136 W. 136th to: c/o The LLC, 1430 Broadway, CA 91203. Principal business lawful activity. addr.: c/o Jonathan O’Herron, Street, LLC. Articles of Org. filed Ste. 1103, NY, NY 10018. Purpose: address: 200 W 72nd St, 3K, NY, NY Lazard, Freres & Co. LLC, 30 with Secy. of State of NY (SSNY) any lawful activity. 10023. Purpose: any lawful acts. Home Solutions Construction LLC Rockefeller Plaza, NY, NY 10020. on 11/23/10. Office loc.: New York Articles of Org. filed NY Sec. of State Purpose: any lawful activity. Co. SSNY designated as agent of Notice of Qualification of Honua Fifth Notice of Qualification of 25 CSH (SSNY) 10/6/10. Office in NY Co. LLC upon whom process against it Avenue LLC. Authority filed with NY OPERATING LLC. Authority filed with SSNY desig. agent of LLC upon Notice of Formation of PANTHER may be served. SSNY shall mail Dept. of State on 5/22/07. Office Secy. of State of NY (SSNY) on whom process may be served. SSNY EQUIP LP. Cert. of LP filed with Secy. process to the LLC, c/o ICER location: NY County. Princ. bus. 11/30/10. Office location: NY County. shall mail copy of process to 551 W of State of NY (SSNY) on 12/16/10. Brands, LLC, 1385 Broadway, 16th addr.: c/o Cozen O’Connor, 277 Park LLC formed in Delaware (DE) on 181st St #218, NY, NY 10033. Office location: NY County. Princ. Fl., New York, NY 10018. Purpose: Ave., NY, NY 10172. LLC formed in 11/24/10. SSNY designated as agent Purpose: Any lawful activity. office of LP: BCS Equip GP, Inc., any lawful act or activity. DE on 5/17/07. NY Sec. of State of LLC upon whom process against it 333 Seventh Ave., 3rd Fl., NY, NY designated agent of LLC upon whom may be served. SSNY shall mail App for Auth for 222 EAST 32ND 10001. Latest date on which the LP LEGEND FUTURES, LLC, a domestic process against it may be served and process to Irwin A. Horowitz, Esq., STREET, L.L.C. filed with Sec. of may dissolve is 12/31/2030. SSNY Limited Liability Company (LLC), filed shall mail process to: c/o CT Hartz Mountain Industries, Inc., 400 State of NY (SSNY) 11/15/10. Off: designated as agent of LP upon with the Sec of State of NY on Corporation System, 111 8th Ave., NY, Plaza Dr., Secaucus, NJ 07096. DE loc: NY County. LLC formed in UT on whom process against it may be 11/3/10. NY Office location: New York NY 10011, regd. agent upon whom addr. of LLC: RL&F Service Corp., 11/12/10. SSNY designated as agent served. SSNY shall mail process to County. SSNY is designated as process may be served. DE addr. of One Rodney Sq., 10th Fl., of LLC upon whom process against the LP at the addr. of its princ. office. agent upon whom process against LLC: The Corporation Trust Co., 1209 Wilmington, New Castle Cnty., DE it may be served. SSNY shall mail Name and addr. of each general the LLC may be served. SSNY shall Orange St., Wilmington, DE 19801. 19801. Arts. of Org. filed with Secy. of process to The LLC, C/O Carleton partner are available from SSNY. mail a copy of any process against Cert. of Form. filed with DE Sec. of State of DE, 401 Federal St., Ste. 4, W. Spaulding, 40 Wanderwood Way, Purpose: Any lawful activity. the LLC served upon him/her to The State, 401 Federal St., Dover, DE Dover, DE 19901. Purpose: Any Sandy UT 84092. Arts. Of Org. filed LLC, 45 Broadway, 32nd Fl., NY, NY 19901. Purpose: any lawful activity. lawful activity. with UT Dept. Of Commerce, P.O. Notice of Qualification of FENSTER- 10006. General Purposes. Box 146705, Salt Lake City, Utah STOCK ASSOCIATES, LLC. Authority 84114-6705. Purpose: any lawful act filed with Secy. of State of NY Notice of Qualification of Kilohana Place your business card in Crain’s Business or activity. (SSNY) on 12/10/10. Office location: Capital Management, LLC. Authority Connection and reach New York City’s NY County. LLC formed in Delaware filed with Secy. of State of NY Notice of Qual. of Dinvest Access 90 (DE) on 11/03/10. Princ. office of (SSNY) on 11/29/10. Office location: Top Level Executives (US) L.P. filed under the original name LLC: 445 Lafayette St.. Apt. 15B, NY, NY County. LLC formed in Delaware Dinvest Access 90, L.P., Auth. filed NY 10003. SSNY designated as (DE) on 11/19/10. SSNY designated Sec’y of State (SSNY) 9/28/10. Office agent of LLC upon whom process as agent of LLC upon whom process loc.: NY County. LP org. in DE against it may be served. SSNY shall against it may be served. SSNY 9/27/10. SSNY desig. as agent of LP mail process to c/o Corporation shall mail process to: The LLC, 351 upon whom process against it may Service Co. (CSC), 80 State St., Saint Nicholas Ave., Ste. 31, NY, NY be served. SSNY shall mail copy of Albany, NY 12207-2543. DE addr. of 10027, also the principal office proc. to 30 Rockefeller Plaza, 27th Fl., LLC: CSC, 2711 Centerville Rd., Ste. address. Address to be maintained NY, NY 10122. DE off. addr.: CSC, 400, Wilmington, DE 19808. Arts. of in c/o National Registered Agents, 2711 Centerville Rd., Wilmington, Org. filed with Secy. of State of the Inc., 160 Greentree Dr., Ste. 101, DE 19808. Cert. of LP on file: SSDE, State of DE, Div. of Corps., John G. Dover, DE 19904. Arts of Org. filed Let Crain’s New York Business Townsend Bldg., Dover, DE 19901. Townsend Bldg., 401 Federal St., with DE Secy. Of State, 401 Federal Name/addr. of each gen. ptr. avail. at Ste. 4, Dover, DE 19901. Purpose: St., Ste. 4, Dover, DE 19901. help you secure new clients in 2011. SSNY. Purp.: any lawful activities. Any lawful activity. Purpose: any lawful activities. January 24, 2011 | Crain’s New York Business | 19 20110124-NEWS--0020-NAT-CCI-CN_-- 1/21/2011 7:47 PM Page 1 Bloomberg on Cuomo’s coattails MTV back in groove Continued from Page 1 less.” little effort to engage labor leaders in Continued from Page 3 ing, among other proposals. The mayor argued last week that his third term. Meanwhile, social media has- But the mayor can’t accomplish his pension reforms are needed be- “He’s not asking us to sit down, been MySpace recently let go of half many of these goals on his own.“To cause costs are spiraling out of con- but telling us this is the way it’s go- of its staff. It seems like decades reduce the pain New Yorkers feel, trol. Some budget analysts argue ing to be,” said Harry Nespoli, since 2006, when Viacom Chair- we will need help from Albany,” he that to achieve meaningful savings chairman of the Municipal Labor man Sumner Redstone fired CEO said in his speech. he must take even bigger steps and Committee. Tom Freston for letting the website Mr. Bloomberg enlisted former seek a 401(k)-style pension plan “He may get something if he’d sit slip away. Mayor Ed Koch to help drum up rather than maintain the current down and talk with the unions,” With help from ratings gains at support among legislators. But his traditional, defined-benefit pension added Lillian Roberts, executive di- cable networks Comedy Central, best hope is to ride the coattails of structure. rector of District Council 37. TV Land, Nickelodeon and BET, Gov. Andrew Cuomo, who has In his speech, the mayor noted Viacom is set to increase advertising amassed a 70% approval rating on that the city will spend $7 billion Assembly not impressed revenue growth as it heads into the the strength of a conservative fiscal this year on pension costs, up from WHILE MR. BLOOMBERG has the ear of upfront sales period. That is when agenda that largely matches the $1.5 billion in 2001. By the Senate Republicans, negotiations with advertisers begin mayor’s. the end of his third term PENSION who are now in the ma- for the coming season. “What you’ve got is this emerg- in 2013, the annual ex- TENSION jority,he has little pull in ing conventional wisdom that pub- pense is expected to be the heavily Democratic Too hot for TV? lic workers and their pensions and $8.4 billion—a little Assembly. Plus, Assem- OF COURSE, it would be another sto- health care [costs] are the problem,” more than 11% of the bly members are expect- ry if were yanked off the air. A 11% Skins JUDY MCGRATH is an early architect of the said Douglas Muzzio, a professor of city’s budget. ed to give up a lot for New York Times piece last week cit- network that began as a video jukebox. public affairs at Baruch College. To meet the growing their new governor— ed fears at the network that a nude “The mayor’s onto this convention- burden of its pension PENSION COSTS’ and may have little shot in a future episode would cross al wisdom, and he’s riding that costs, the city is being SHARE of New stomach to go an extra the child-pornography line. The “A lot of that investor excitement wave.” forced to make cuts to York City’s annual mile for the mayor. network responded that Skinswould is about MTV,” said Derek Baine, a other programs and “Bloomberg is defi- comply “with all applicable legal re- senior analyst at SNL Kagan. Costs of benefits spiraling services. Deputy Mayor budget by 2013 nitely trying to tap into quirements”and with “our responsi- It also helped that the cable net- A SPOKESMAN for Mr.Bloomberg de- Howard Wolfson said NYC Office of Management and Budget the same political mo- bilities to our viewers.” works’ ad revenue growth improved clined to comment on the mayor’s last week on NY1’s Inside ment,” said a Democrat- MTV has also come under attack in each of the first three quarters of strategy. But privately, city officials City Hall that the city needs to press ic consultant. “But Cuomo has im- from conservative advocacy group 2010. The networks are responsible admit they’re throwing their cards Albany for additional help because mense political capital, and Parents Television Council, which for almost all of Viacom’s profits. in with Mr. Cuomo. Already, the it has already implemented nine Bloomberg has very little.” pressured Taco Bell into pulling its Total revenues through September governor has gained the upper hand rounds of budget cuts,generating $5 Plus, it’s not clear if Mr. Cuomo ads after Skins premiered. The fast- were up 1% from the year-earlier pe- in Albany, taking advantage of a billion in savings. would spend any of that capital food chain told The Hollywood Re- riod, to $9.3 billion. Operating in- growing public antipathy to govern- “We’re so far beyond low-hang- helping the city or its mayor. porter, “The show is not a fit for our come rose 16%, to $2.2 billion. ment spending, a whopping ap- ing fruit that we’ve cut flesh,” Mr. Both Messrs. Bloomberg and brand.” Any business centered on young proval rating and a $10 million war Wolfson argued.“And now the next Cuomo have taken tax hikes off the In response, an MTV spokes- people is risky, however. Launched chest that business interests put to- rounds of flesh could very well be table as a solution to budget woes. woman said in a statement, “We in 1981 as a home for music videos, gether at his request to support his bone unless we get at the fundamen- But labor leaders plan to push for an know that not every show works for MTV has risen from the ashes be- agenda. tal structural costs of government, extension of the so-called million- every advertiser. That said, we are fore, only to have its easily distract- Shortly after Mr. Bloomberg the costs of how we do business.” aire’s tax on New Yorkers earning confident that Skins will continue to ed viewers lose interest in once-tit- concluded his speech, Mr. Cuomo Hopping aboard the Cuomo more than $200,000 a year. connect with the audience it was illating shows. released a statement backing the bandwagon could prove easier said “The mayor’s saying we have to created for and that advertisers will And Viacom still has work to do mayor’s position: “Mayor Bloom- than done, however. The governor protect millionaires and at the same take advantage of the opportunity to on other networks, VH1 in particu- berg has laid out an innovative and has meticulously courted potential time take benefits away from munic- reach them.” lar. The MTV sibling’s prime-time realistic agenda to position his ad- opponents, at least temporarily si- ipal workers,” Mr. Mulgrew said, The network is used to dealing audience plunged 33% in the fourth ministration to aggressively address lencing them by drawing them into adding that the average annual pen- with such controversy. Domino’s quarter. the critical challenges facing New conversation and onto various cost- sion for teachers is $42,000. “Ex- Pizza pulled out of Jersey Shore its “It’s under construction,” Ms. Yorkers. He rightly recognizes that cutting committees and task forces. plain to me how someone lives in first season after complaints from McGrath said, explaining that the government has to do more with The mayor, by contrast, has made New York City on $42,000 a year.”Ⅲ Italian-American groups. network relied too much on downer Shows that appeal to young peo- reality shows like Celebrity Rehab. ple—not their parents—is what it’s about, said Judy McGrath, CEO of More than MTV Cole downsizes for better fit MTV Networks and one of the VIACOM IS ALSO LOOKING beyond the channel’s early ar- niche networks and chitects. “We know investing in its Continued from Page 2 up to focus on day-to-day.” “They’re more in favor with con- the audience we broader-based pro- five quarters. Most recently, it post- Ms. Granoff has also invested in sumers today than a few quarters serve,” she said. perties, TV Land ed third-quarter earnings of $2 mil- upgrading the fashion offerings.Be- ago, but they’re nowhere near where The turnaround and Spike, with the lion,compared with $186,000 a year fore terminating the licensing they can be,” said Jeff Van Sinderen, has been a long-term goal of accessing a earlier,and revenues were up 15%,to agreement with supplier Bernard a retail analyst at B. Riley & Co. project. According bigger pool of ad $119 million. Chaus Inc., she hired veteran Hugo to Ms. McGrath, it dollars. The com- “I’m really pleased with the Boss designer Ingo Wilts in 2009 to Controlling costs began with research pany’s ad revenue progress we’ve made,” Ms. Granoff LIKE MANY of its competitors, Ken- into the social me- growth has consis- said in an interview last week. “We neth Cole is grappling with higher dia-oriented Millennials and how tently underperformed that of its have a lot of potential ahead for our ‘Those stores labor, materials and transportation they differ from Generation X, chief rivals, including Time Warn- brands, and I’m excited about that.” costs. which was drawn to glossy reality er’s Turner division and Discovery First on the CEO’s plate was to were losing To avoid passing along those fare like The Hills. Communications’ networks, ac- shrink the swollen number of stores hikes,Ms.Granoff hired a new sup- Grittier shows such as Teen cording to Mr. Baine. and the footprint of those remaining money all ply chain officer and has moved pro- Mom and the scripted Skins, a re- Some analysts believe Viacom to about 3,500 square feet from an duction from China to less expen- make of a British hit, were devel- has already turned the corner. “The average of more than double that. over the place’ sive countries, including Vietnam, oped to make the network the “cul- broad-based ratings momentum is Ms. Granoff had originally said she Indonesia and Bangladesh. tural home”of the Millennials.The now so significant that advertisers expected to close only five to 10 Is the cleanup an effort to ready shows are riding the coattails of Jer- have to pay attention,” wrote BTIG stores, but she’s up to 17, including the company for a sale? Industry ex- sey Shore, which has become a rat- Research analyst Richard Green- the Rockefeller Center and Colum- perts said Kenneth Cole is being ings phenomenon since its launch field in a recent research note after bus Avenue locations. Kenneth eyed by such apparel companies as in late 2009. Its season-three pre- raising his target price on Viacom. Cole now has about 95 full-price refurbish the lagging namesake line. Perry Ellis and Li & Fong.Even Mr. miere, on Jan. 6, attracted 8.5 mil- He ranks the stock a “buy.” stores—four in Manhattan—and She said that after a five-year ab- Cole’s younger brother Neil, who lion viewers—an MTV episode Ms. McGrath expects to see 75 discount outlets. sence, the collection may return to runs Iconix Brand Group Inc.,is ru- record. Skins, which premiered Jan. continued growth, and she’s not the runway at New York Fashion mored to be considering it. 17, set a launch record among 12- worried about losing her fickle au- Changing focus Week in September. The company “There are any number of com- to 34-year-olds, with 2.7 million dience again. “There’s great affec- “THOSE STORES were just losing also recently developed an exclusive pelling, conglomerate-type busi- viewers in that category. tion for these brands,” she said. money all over the place,” said Sam collection of men’s sportswear with nesses interested,” said Andy Jassin, Viacom’s stock price has also “People will forgive you quickly if Poser, retail analyst at Sterne Agee Macy’s that is expected to be rolled managing director of retail advisory surged, soaring 50% in the past 12 you can come back with something & Leach.“That’s going to free them out in 550 of the chain’s stores. firm Jassin Consulting Group. Ⅲ months. they like.” Ⅲ 20 | Crain’s New York Business | January 24, 2011 20110124-NEWS--0021-NAT-CCI-CN_-- 1/20/2011 5:49 PM Page 1 14% of American adults plan to spend more in 2011 than they did last year; 40% plan to spend the same amount BUSINESS LIVES Source: American Express Spending & Saving Tracker HOT JOBS EXECUTIVE INBOX CHIEF FINANCIAL OFFICER Anne Fisher ORGANIZATION Times Square Alliance A matchmaker JOB DESCRIPTION Oversee financial and many related for nonprofits operations, including procurement and volunteers MOST IMPORTANT TASKS Monitoring a $13 million budget WHILE RACHAEL CHONG was and controlling spending working as an investment banker at UBS, the firm offered staffers CREDENTIALS NEEDED B.S. in the chance to volunteer for a accounting (M.B.A. or C.P.A. highly Bronx house-building project. Ms. desirable); 10 years in financial Chong signed on—and found leadership roles herself hauling lumber, while her SALARY Low six figures sophisticated financial know-how went untapped. Thought she: RECRUITER Internal “There has to be a better way.” DOWNSIDE Must meet divisional Now there is. Last April, Ms. needs while staying within budget Chong launched Catchafire, a UPSIDE Get to help reinvent the Manhattan-based service that Crossroads of the World matches highly skilled New Yorkers with local nonprofits that Founded in 1992, the Times need expertise. Volunteers, mostly Square Alliance provides core midlevel professionals who work neighborhood services and helps at places like American Express, coordinate such events as the browse Catchafire’s website to New Year’s Eve and Broadway on SUITE LIFE: As find short-term projects requiring Broadway celebrations. Eloise Ambassador, their talents—budget development, —SUZANNE PANARA Laurence Ledanois acts on behalf of the say, or database customization. storybook girl who Catchafire volunteers have lives at The Plaza. given roughly 3,600 hours, worth $600,000. Organizations pay a EXECUTIVE MOVES small fee—never more than 5% of what the services rendered would TouchTunes Interactive Networks: cost on the open market. Christian McMahan, 41, joined chief marketing officer of the entertainment Zoe Timms thinks that’s a and marketing solutions company. He great bargain. She runs the was formerly chief marketing officer for buck ennis Women’s Education Project, Heineken USA. headquartered on East 25th The Brandman Agency: GOTHAM GIGS Street, which provides college Kristen Vigrass, 40, prep courses, scholarships and was promoted to president of the public career advice to women in India. relations firm. She “We’re ready to grow, and we was previously needed to reach corporate executive vice Channeling Eloise sponsors and make a long-term president. strategic plan,” Ms. Timms said. Emily Venugopal, 38, was promoted to AS THE PLAZA’S Catchafire matched Ms. Timms vice president from senior director. Eloise Ambassador, Laurence Ledanois channels the with a volunteer, an attorney who Gibbs & Soell: Audra Hession, 41, was ‘I often say elected agency shareholder and precocious 6-year-old storybook heroine every Wednesday through organized a brainstorming promoted to senior vice president from that she’s Sunday. She coordinates tea parties, birthday celebrations and session, inviting more than a vice president. She remains a managing etiquette classes held at the Eloise store. She also writes to children as dozen movers and shakers from director. in France, her professional network. Three Stephen Halsey, 40, was elected agency the character—who never makes an appearance. ¶ “I often say she’s of them joined the WEP board. shareholder and promoted to senior vice in France, or walking in Central Park,” said Ms. Ledanois. ¶ Originally “As a result, we’ve doubled president at the public relations firm. or walking He had been a vice president. from Normandy, France, the resident of Astoria, Queens, is one of six our fundraising,” said Ms. Timms. Ronald McDonald in Central siblings. She left home at 27. “I only wanted to be in New York,” said Catchafire is now starting a House of Long Island Ms. Ledanois, 50, who has never married or had children. She service called CEO Expert Advice. Inc.: Matthew Campo, Park’ It pairs up execs of for-profit 32, was promoted to learned English by watching TV, reading papers and babysitting.¶ In ventures that have at least $1 executive director of 1997, she signed on as a sales associate at The Plaza’s boutique. Ms. million in revenues with directors the nonprofit, which serves the families of Ledanois also worked once a week at its tiny Eloise-themed gift shop, of nonprofits who want to pick seriously ill children. found under the character’s famous portrait.That grew into a multiday their brains. Check it out online at He had been director of development www.catchafire.org/project_types/ and communications. assignment. Staffers began to call her “Eloise.” ¶ The job expanded in ceo-expert-advice_35. Gibson Dunn & Crutcher: Peter J. Hanlon, 2009, when the store relocated to a 2,100-square-foot emporium It sure beats hauling lumber. 59, joined the law firm as partner. He selling everything Eloise, from mugs to book bags. ¶ “This isn’t really was previously a partner at Willkie Farr WHERE HAVE YOU DONATED time or & Gallagher. work; it’s play,” Ms. Ledanois said. “And I get to do it every day.” money lately, and why? Tell us at See EXECUTIVE MOVES on Page 22 —alix strauss www.crainsnewyork.com/execinbox. January 24, 2011 | Crain’s New York Business | 21 20110124-NEWS--0022-NAT-CCI-CN_-- 1/20/2011 5:50 PM Page 1 RÉSUMÉ REVIEW Theater’s dancing queen Is your job search all it could be? We ask the experts. like this.You can count on your hands Meryl said “Yes” before anybody NAME RISHIT SHAH Mamma Mia! creator the number of shows that have in the else,and that changed the whole dy- SUMMARY runs global business; last 30 years gone international.Next namic of it being taken seriously as Innovative marketing and solutions year,we’re opening in China,in Chi- a movie. She saw the show shortly consultant with proven results ready for Spice Girls nese. We are the first to do this. after it opened and had a great time. She wrote an amazing letter to the PROFESSIONAL EXPERIENCE Why do you think the show has had such Broadway cast in her own hand, and l Green Blizzard Inc., 2010-present BY MIRIAM KREININ SOUCCAR longevity? I treasured that. Meryl understood Marketing consultant It keeps attracting new generations. how fantastic the show was for Increased website visibility and credibility; partnered with Guardian HEN Mamma Mia! We have 10-year-olds in the au- women—actresses from 38 to 55 Green Network to enhance product through proper ads; determined opened on Broadway dience. You hear young girls are playing the main roles. keywords for website promotion using Google Analytics a month after Sept. squabbling with their dads l Larsen & Toubro Infotech Ltd. 11, 2001, no one about the plot during the How has the show changed Solutions consultant for Marsh & McLennan Cos., 2007-2010 imaginedW that it would be the hit it matinees. People are your life? Negotiated quarterly contracts with software vendors; increased annual has become. But the show built on bringing their kids for God, well, enormously. revenue by $1.2 million by building a scope management system to Abba songs has been performed birthday parties. I never Mamma Mia! has become establish pricing of insurance brokerage services for the middle market; more than 3,900 times on Broadway dreamed that the show a full-fledged enterprise analyzed liability data for cost-reducing solutions that resulted in and seen by would introduce Abba to employing hundreds of $10 million liability-limit clauses in legal contracts more than 45 so many generations. people all over the l Analyst, 2005-2006 million peo- world. I went from Authored internal white paper that influenced client to replace contract MOVERS & ple world- How did the movie being a creative pro- system with new industry solution SHAKERS wide. It also version affect the ducer to running a spawned a musical? business. You can’t EDUCATION film that has After the plan for global domi- l Dharmsinh Desai University, B.S. in engineering, information technology Judy grossed $600 movie, nation! And I finally l Georgetown University, M.B.A. million—the places that got a home in New Résumé appears in condensed form. Craymer most success- weren’t York, near the park. ful movie mu- typically EXPERT ADVICE sical ever. As followers of What’s next? Rishit’s résumé is good because it states accomplishments. It’s important the show prepares to enter its second musical the- I am working on a that potential employers understand where a candidate has succeeded. I decade on the Great White Way, ater,like Paris, Spice Girls musical. would encourage Rishit to include his citizenship status so that companies perhaps the person who’s most suddenly want- It’s in the vein of know if he requires sponsorship. He should also consider joining amazed is the one who started it all, ed it. We Mamma Mia! I’m professional associations. Creative Producer Judy Craymer. opened there creating a story out of —jamie mccann, executive senior partner, Lucas Group in October. their songs. It will What has surprised you the most about have to do with what To contact this candidate or to be featured in “Résumé Review,” e-mail us the success? How did you get Meryl the Spice Girls meant at at [email protected]. I never doubted Mamma Mia! had Streep to play the lead a certain time. They gave appeal,but I never knew it would play in the film? confidence to women. Ⅲ lorenzo agius EXECUTIVE MOVES Dany III, 33, was promoted to partner at Madison International Realty: Bradley Lawrence Klein, 52, has been elected New York Institute of Technology: John M. the law firm. He had been an associate. Carroll, 33, joined the real estate office managing partner at the law firm Elizandro, 55, joined as vice president of FalconStor Software investment firm in the newly created and remains a partner. development. He was previously senior Continued from Page 21 Inc.: James P.McNiel, position of managing director. He was Ridgewood Savings Bank: Annette Welsh, vice president of development at Amalgamated Bank: Daniel A. Greene, 52, 47, was promoted to most recently with Tishman Speyer, 48, was promoted to vice president from Westchester Medical Center. joined the union-owned bank as chief executive and where he served as managing director. assistant vice president. She remains Seiger Gfeller Laurie: executive vice president and director of president at the data AlixPartners: Marc Iampieri, 33, was deputy auditor. Matthew D. commercial banking. He was previously protection solutions promoted to director at the business Appssavvy: Rahul Sobolewski, 40, joined a senior vice president and division company, and was advisory firm. He was previously a vice Daterao, 38, joined the the law firm as a manager at J.P.Morgan Chase. elected to the board of president. social media agency as partner. He was Kids in Distressed directors. He had been Meaghan Schmidt, 30, was promoted to chief technology previously an associate Situations (K.I.D.S.): interim CEO, interim president and director from vice president. officer. He came from with Herrick Kenneth Baronoff, 48, chief strategy officer. Charles Zentay, 37, was promoted to KickApps, where he Feinstein. was named to the Walter Curti, 47, was promoted to chief director from vice president. was chief technology Hall & Partners: Mark board of directors of technology officer from vice president of New York Water Taxi: Anna Karnowski, officer. Stapylton, 53, joined the brand the children’s charity. research and development. 31, joined as director of tourism sales. Golenbock Eiseman engagement and communications He is chief operating Clifford Chance: Robert Masella, 41, She was previously senior sales manager Assor Bell & Peskoe: Barry A. Cassell, 46, research company as managing partner. officer and a managing joined the law firm as partner. He was at Top of the Rock Observation Deck. was promoted to partner at the law firm. He was previously a senior vice director at Peter J. previously managing director of the Maura Buckley, 32, was promoted to He had been of counsel. president at Harris Interactive. Solomon Co. mergers and acquisitions group at Bank director of sales and events from Madison Square Garden Sports: Greg Deloitte: Bob Contri, 49, was promoted Sutherland Asbill & Brennan: Lawrence A. of America Merrill Lynch. manager of charter sales and special Economou, 45, joined in the newly to U.S. banking and securities sector events. created position of executive vice leader at the financial advisory firm. He WeiserMazars: James Toto, 40, was president, revenue performance. He was had been principal and consulting leader promoted to partner at the accounting, formerly chief executive and managing for the global financial services industry. CORPORATE LADDER tax and advisory firm. He had been a director at BrandThink. Davidoff Malito & Hutcher: Elliot H. senior manager. Donnelly Sustainable Energy Services: Lutzker, 57, joined the law firm as FORMER NBC EXECUTIVE JOINS UNIVISION Julien Berke, 35, was promoted to Frank Pagano, 30, was named sales partner. He was most recently a partner partner from senior manager. director at Donnelly Mechanical’s at Phillips Nizer. RANDY FALCO, 57, former chairman and CEO of Michael Coletti, 32, was promoted to energy efficiency and consulting services Tutor.com: John Sonnenberg, 54, joined AOL and president of the NBC Universal television partner from senior manager. division. He was previously an account the online tutoring service provider as group, has been named chief operating officer of AppSense Inc.: Darron executive in the service group at Johnson director of fidelity programs. He was Spanish-language media giant Univision Antill, 44, was Controls. previously business manager, treasurer Communications Inc. He will oversee ads and promoted to chief Univision Communications Inc.: Tonia and director of technology with the distribution sales, affiliate relations, the radio and executive of the O’Connor, 41, was promoted to North Chicago School District. virtualization president, distribution sales and Davis & Gilbert: Brooke Erdos Singer, 40, TV station groups, corporate marketing, research solutions company. He marketing. She had been executive vice was promoted to partner at the law firm. and corporate business development. was previously chief president, distribution sales and He was previously counsel. newscom At AOL, Mr. Falco led all business and strategic operating officer. marketing. —maggie wells operations. Previously, he spent more than 30 years filling a variety of Holland & Knight: Little Airplane Productions: Tom Brown, Stephen Humes, 46, joined the law firm 39, was promoted to vice president, positions at NBC Universal Inc. He was most recently president and chief XECUTIV PROMNS E operating officer of NBC Universal Television Group. Among his responsibilities as a partner in the public policy and production and operations at the regulation practice. He was previously company, which makes film and was managing Olympics coverage, for which he won six Emmy Awards. The fastest way to get an announcement into partner and head of the energy practice television programming for young Crain’s is to submit details online. Fill out the form —MAGGIE WELLS at McCarter & English. children. He had been head of at www.crainsnewyork.com/submit. The Sedgwick Detert Moran & Arnold: production. Executive Moves column is also available online. 22 | Crain’s New York Business | January 24, 2011 20110124-NEWS--0023-NAT-CCI-CN_-- 1/20/2011 5:50 PM Page 1 chemex / INSATIABLE CRITIC Gael Greene Wendi Caplan-Carroll’s “Social Media flickr.com THE Marketing Made Simple,” a look at how these low-cost tools are being used to gain visibility and drive sales. The workshop will be held from 8:30 a.m. to WEEK 10 a.m. at Samsung Experience, 10 Columbus Circle, third floor. The fee is $15 for MCC members and $25 for Where to pig out AHEAD nonmembers. For more information, call (212) 473-7875 or e-mail JAN. 31-FEB. 6 [email protected]. on upper B’way URAL CULTURALT EVENTS WEDNESDAY , FEBRUARY 2 CONFERENCES AND BAROQUE ACROSS THE RIVER presents newscom Vareli serves good SEMINARS “The French Cantata: Love, Longing THURSDAY , FEBRUARY 3 and Triumph,” featuring two pieces for Mediterranean food; Join the NEW YORK STATE SOCIETY OF soprano Michèle Eaton composed by WHAT HE’S CPAs for its first annual Family Office Michel Pignolet de Montéclair. The chicken disappoints Conference, highlighting opportunities 35-minute concert starts at 1:15 p.m. at READING and challenges for families who work Immanuel Lutheran Church, 122 E. ARELI DOESN’T really together. It will be held at Bernstein 88th St. It is free, and reservations aren’t CHUCK SCARBOROUGH has need you or me zoom- Global Wealth Management, 1345 required. For more information, call held WNBC’s news anchor’s chair ing uptown or wafting Sixth Ave., from 8:30 a.m. to 12:30 p.m. (212) 967-9157 or visit since 1974, where he gives the The fee is $160 for nonmembers and www.midtownconcerts.org. lowdown on the latest, from high across the park to its rus- $135 for members. To get more tic duplex in Morning- information or to register, call THURSDAY, FEBRUARY 3- Pick finance to heinous crimes. He has side Heights for crispy pork belly or (212) 719-8383. SUNDAY, FEBRUARY 6 won more than 30 Emmys. V buck ennis of the lush leeks carbonara. It is madly WHAT TO GO FOR: Grilled octopus See LOST IN THE STARS, week To stay abreast of what loved by the neighborhood as an oa- SAURDTURDAT Y , FEBRUARY 5 the musical based on matters most in this town, the sis of bonhomie and good Mediter- Attend a crash course on opening a retail Alan Paton’s novel Cry,The veteran newscaster recently ranean eats—something between VARA ELI store hosted by GLOBAL PURCHASING Beloved Country, about life in South finished Lords of Finance: The grub and cuisine—in what is pretty 2869 Broadway COS. Topics will include retail math, Africa under apartheid.The musical, merchandising, loss prevention and with its classic title song, premiered at Bankers Who Broke the World by much a food lover’s wasteland. On a (212) 678-8585 Liaquat Ahamed. The book www.varelinyc.com marketing. The event will take place the Music Box Theater in 1949. It was recent Friday, chef Amitzur Mor from 10 a.m. to 6 p.m. at Global the final work of Kurt Weill, who died in compares the financial crisis of counted 400 customers between Purchasing’s offices at 1133 Broadway, 1950.The venue is New York City the Great Depression to the one lunch and dinner. But it had lingered suite 908. The fee is $195. Register at Center, at West 55th Street between that recently rocked the country. on my to-check-out list. CUISINE Mediterranean www.globalpurchasinggroup.com. For Sixth and Seventh avenues. Showtimes “It’s a great book for Then Michelin pinned its good- more information, call (212) 414-4001 are 8 p.m. on Thursday and Friday, PRICE RANGE Entrées $21 to $27 or e-mail [email protected]. 2 p.m. and 8 p.m. on Saturday, and anybody who is interested in bib rating on “this gorgeous little understanding the economy’s restaurant.” What the dining sleuth 6:30 p.m. on Sunday.Tickets are $25, SERVING Lunch, dinner, brunch WORKSHOPS ebb and flow, how bubbles form saw—barrel-shaped ceilings, pol- $50 or $100 and are available at WEDNESDAY , FEBRUARY 2 www.nycitycenter.org. For more and burst, and the history of such ished copper bar, glassed-in fireplace RESERVATIONS Yes Join THE MANHATTAN CHAMBER OF information, call (212) 581-1212. things,” said Mr. Scarborough, and rock water wall—I might have NOISE LEVEL Noisy COMMERCE and Constant Contact for —maggie wells missed,tumbling into a noisy,crowd- who read the book on his Kindle. I can’t wait to return. —VALERIE BLOCK ed narrow entry, collecting friends To view Crain’s classified events listings, go to www.crainsnewyork.com/events and muttering grumpily when di- I will definitely go back. rected to mount the steep stairs. I’ll let them simmer awhile. Clusters of candles suspended from NO HATS Never again. above pitch a golden glow on bare brick and sponged walls. I love how the street light and neon are reflect- gathering of pearl onions, breakfast ed in a mirror.Big tables overlooking radish, baby carrots and sugar snap Broadway are packed with women peas … in a “preserved lemon Join the celebrating a birthday. “Mommies’ barigoule,” the menu says. night out,” our neighbor explains. It may seem like a long way from The unusual little menu, the size the chef ’s years with David Bouley, of a quality paperback, has three but the occasional lemon barigoule Crain’s pages devoted to beer,stouts and ales. shows the connection, and Mor Even if Michelin had not urged us doesn’t feel exiled at all. His bosses to go for the grilled octopus, we leave him alone to shape the menu, Community would have. I marvel that a creature and he has the pick of whatever he unknown to my mouth before it wants from their Westside Market. caught my eye at Periyali has become Tonight’s special suckling pig Subscribe to Crain’s New York Business inevitable,a menu staple.Vareli’s ver- plate, the loin wrapped around sion with chickpeas, Moroccan ground porchetta sausage,with scat- New York’s must-read resource for business leaders olives and serrano peppers is tender tered batons of crispy skin and big fat and vibrant,nested in rich labneh yo- gigante beans, hints of a cassoulet gurt, house-made from buttermilk. the chef plans to add this winter,and “Carbonara” always gets my at- it reflects the Israeli native’s passion One year subscription $29.95 tention, too. Bacon, onion, egg for pig. “I’m getting more into pork Weekly news analysis of New York’s most (slow-poached) make an inspired sausages and charcuterie, just like important business issues setting for braised leeks with crou- any good Jewish cook from Israel,” Print Edition tons and shards of parmesan. A trio he observes with a chuckle.“It start- In-depth reports and trend stories of elements:crisp pork belly,polenta, ed when I had my first pork chop at Crain’s annual Book of Lists a fried egg are straightforward and a Romanian restaurant, when I was delicious. Sadly, another small plate 8 years old. In Israel, the Romanians from a list priced at $7 to $14, bits of are the raisers and cooks for pork.” cauliflower with tahini, chili and Pig Tuesday at Vareli offers two One year subscription $24.95 sage, is especially disappointing. courses of pork and dessert for $37: Anytime access to comprehensive and late My roasted chicken is dry and possibly sumac-rubbed pork chop breaking business news boring even with its creamy polen- or braised heritage pig cheeks. And Digital Edition ta, rapini and lemon caper jus. it might very well finish with the Crain’s Daily Alert delivered to your Tonight’s lamb burger with harissa, fabulous warm brioche bread pud- inbox each business day tomato and pickled onions is not the ding the four of us are sharing FREE unlimited access to Crain’s archives best or the worst of the month’s tonight, studded with dried fruit lamb burgers. But I’m taken by a and bacon on fresh berry compote. generous collection of scallops,deli- Subscribe today Go to www.crainsnewyork.com/subscribe ciously caramelized and gently just- Copyright © 2011 by Gael Greene. cooked, surrounding a welcome Syndicated by www.insatiable-critic.com. January 24, 2011 | Crain’s New York Business | 23 Project5:fp template.qxd 1/18/11 4:02 PM Page 1 Booming is JON HABER ALTO MUSIC turning an early pay discount ALTOMUSIC.COM MEMBER SINCE 07 into more space for music. JJono Haber,Hab owner of Alto Music, wwas one of the very rst owners ttoo receivev a Plum Card from Americana Express OPEN. During tthe h recession,s Jon used his Card to bbuyu as mmuch inventory as possible. AndA with the savingsgs he ggoto fromr the 1.5% early pay discount on those purchases, Jon was able to expand his business at a time when others were closing their doors. 1.5% EARLY PAY DISCOUNT or DEFER PAY OPTION 1-866-540-PLUM | OPEN.COM/PLUM Pay the balance in full within 10 days of the statement closing date and get a 1.5% discount on virtually all purchases made that month. The discount will appear as a credit on the following billing statement. Pay 10% of the balance from new activity on your billing statement, plus the entire amount of any previously deferred payment or amounts past due by the “Please Pay By” date on that statement, and you can extend payment on the rest until the closing date of your next billing cycle, without penalty. Visit open.com/plum for details. ©2011 American Express Bank, FSB. All rights reserved.