And More Room at The

Home , IVillage UK, Jehangir Mehta, Seagram Building

CNYB 11-17-08 A 1 11/14/2008 8:43 PM Page 1

INSIDE CORPORATE LADDER NBC’s iVillage TOP STORIES installs new As art market flags, leadership galleries cut back; PAGE 37 shakeout expected ® PAGE 2 Ann Taylor can’t blame the economy VOL. XXIV, NO. 46 WWW.CRAINSNEWYORK.COM NOVEMBER 17-23, 2008 PRICE: $3.00 for all of its troubles PAGE 3 FAVORITE FIVE Some businesses More and more Asking rents, per square foot. get to stay in Willets Pt. after all room at the top THE INSIDER, PAGE 34 Last month, the company laid Wilting hedge funds off 35 employees. It now hopes to SPECIAL REPORT shed pricey space sublease one of the three floors that in trophy buildings it occupies at 599 Lexington Ave. “For most investment manage- GM Building 9 W. 57th St. Seagram Building 712 Fifth Ave. Lever House ment firms and everyone else, these BY THERESA AGOVINO are belt-tightening times,” says $125-$200+ $125-$200+ $130-$170 $90-$150 $205 Michael Boxer,a partner at Ramius. eight months ago, hedge fund Mr.Boxer believes the high-end operator Ramius moved into posh design and prime location will draw leased at eye-popping prices. hedge funds’ needs were relatively new quarters in midtown after tenants. The problem is that a Before the financial markets modest, their expense-be-damned pouring around $22 million into growing number of ailing or dis- crumbled, these companies paid up attitude helped drive all rents to everything from state-of-art tech- solving hedge funds and private eq- to $200 a square foot—more than dizzying heights everywhere. A nology to a marble reception area uity firms are also looking to unload double the average—for offices in growing number of vacancies at the and dark-wood paneling. lavishly outfitted offices that they midtown’s trophy towers. While See HEDGES on Page 8 BEST PLACES TO WORK Crain’s names the city’s 50 best workplaces, based on surveys of employees PAGES 17-27 Layoffs G These companies create a culture of respect P. 17 mount G Top 50 list,including innovative workplace policies P. 18-19 as tech G Profiles of the highest- ranking small, midsize and large companies P. 20-27 sputters Wall Street woes and ad declines hit NYC operations

BY AMANDA FUNG JEFFREY one of the bright spots in the DESTEFANO has BUSINESS LIVES put $600,000 New York economy is dimming. into his company THAT LONELY FEELING A few months ago, local tech to keep it afloat. Big spenders find fewer firms planned to take advantage of friends to join them the 22,000-plus Wall Street layoffs

in splurging PAGE 35 and open their doors to new talent. buck ennis But in recent weeks,tech companies have contributed to the pool of un- BUSINESS IN CRISIS employed by cutting staff. INDEX Though the number of rolling heads pales in comparison to the ALAIR TOWNSEND ______11 carnage on Wall Street, tech com- REAL ESTATE DEALS ______14 panies catering to such industries as THE WEEKS AHEAD ______28 financial services are responding to Running on Empty slower demand; others are prepar- SMALL BUSINESS ______29 ing for a prolonged downturn that CLASSIFIEDS ______30 might affect future business. NEIGHBORHOOD JOURNAL ______32 Among the firms that are cut- A litany of troubles drives a Brooklyn bus company EXECUTIVE MOVES ______38 ting staff: men’s online video site

TABLE TALK ______39 Heavy.com,interactive agency Ra- into Chapter 11; nightly visits from the repo man See AT DEADLINE on Page 2 zorfish and mobile entertainment See TECH FIRMS on Page 7 it’s gotta be there,”Mr.Maldonado chain that secured the yard’s sliding BY DANIEL MASSEY said to himself. “Just check again,” gate had been cut. He called the

46 he told the driver. The driver police.

5 it’s hard to losea school bus.But checked again. No sign of his bus. But it turned out that creditors, when a driver for Caravan Transit Mr. Maldonado rushed to Car- not criminals, were the culprits. scoured the company’s Brooklyn avan’s headquarters and soon real- The buses had been repossessed. ELECTRONIC EDITION yard early one morning in August, ized that 24 other buses were miss- When another 13 buses van- he couldn’t find his vehicle. ing. The wire for the security ished in the middle of the night less

NEWSPAPER So he called General Manager camera perched above the front en- than a month later, Caravan owner

71486 01068 Edwin Maldonado. “You’re blind, trance had been sliced. The steel See BUS COMPANY on Page 8 0 CNYB 11-17-08 A 2 11/14/2008 8:00 PM Page 1

IN BRIEF THE BLOODBATH AT CITIGROUP INC. IS JUST Art market bubble bursts BEGINNING. THE STRUGGLING BANK, WHICH reportedly plans to cut another 10,000 jobs worldwide, needs to lop off 50,000 more, to Dealers report weak about 290,000 worldwide, in order to get costs in line with those of rivals like J.P.Morgan sales, hesitant buyers, Chase & Co.That’s according to Bill Smith, chief executive of Smith Asset Management, a fewer art fair visitors; longtime Citi shareholder and critic. Citigroup some bright spots has already cut 23,000 employees this year. It employs about 25,000 people in New York. BY MIRIAM KREININ SOUCCAR TAVERN ON THE GREEN, THE CITY’S HIGHEST- GROSSING RESTAURANT, IS NOT SO FLUSH since art dealerKathleen Cullen opened with greenbacks these an exhibit of photographs by award-win- days. In response to the ning artist Joe Lewis at her Chelsea gallery WALL FIXTURES: Artwork has not been selling at weak economy and last month, not one piece has sold. Kathleen Cullen’s Chelsea consumers’ reluctance to It was the same story with her previous gallery. dine out, the restaurant is show in September of Belgian artist Marc

offering its first-ever to-go Van Cauwenbergh. And a recent trip to buck ennis menu on Thanksgiving. Berlin to participate in the Bridge Art Fair Diners can pick up packages of food, including didn’t bring in any sales, either. MIXED BAG “It’s a luxury we don’t all the typical fixings, for $12.50 per person. “The Wall Streeters and real estate exec- Results from last week’s auctions at Sotheby’s and Christie’s. need right now.” utives were buying compulsively, and they Becky Smith, owner STARBUCKS IS CLOSING LOCATIONS, BUT aren’t doing that anymore,”Ms.Cullen says. of the Bellwether SMALLER CHAINS ARE JUST BEGINNING TO The bubble has finally burst in the art Gallery, has slashed her percolate in Manhattan. Roasting Plant, which market.The frenzy that made art students overhead by a third.Even opened its first store last year on Orchard stars overnight, spawned scores of fairs so, Ms. Smith says,“If no SOLD Street, is opening a second outpost at 71 around the world and turned young invest- one comes and buys a Greenwich Ave.It plans to roll out 15 more ment bankers into major collectors has not sold not sold single thing from me for stores here over the next three years. And San come to an end. four months, I will have Francisco-based Java Detour recently leased YVES KLEIN ROY FRANCIS to close my doors.” space at 600 Third Ave.; it expects to open four Weakness spreads Archisponge RE LICHTENSTEIN BACON The last time the art more spots here. for the first time in years,New York 11, from the Relief Half-Face With Study market experienced a dealers are reporting weak sales, hesitant Eponge series Collar Lines for Self-Portrait major slump was in CBS IS THE TOP-RANKED NETWORK IN PRIME buyers and fewer art fair visitors. At the 1989, about 18 months

TIME, ACCORDING TO NIELSEN MEDIA Asian Contemporary Art Fair in New bloomberg news after Oct. 19, 1987, Research. But according to consumer- York earlier this month, for example, at- when stock markets perception research firm BrandIndex, Fox is tendance dropped to 12,000, from 19,000 And some hot contemporary artists re- crashed worldwide. At that time, it took No. 1—at least in terms of how viewers rate the last year, and sales were sluggish for many main just as popular as they were before the four years for the market to hit bottom in networks for value, satisfaction, quality and dealers. And at the important fall auctions economic crisis. Eli Klein, a dealer in Chi- 1993, with prices falling 56% on average, general impression. BrandIndex General at Sotheby’s and Christie’s this month, to- nese contemporary art,sold 70% of his cur- according to the Artnet Market Trends Manager Ted Marzilli says that the numbers tal sales failed to reach even their low esti- rent Zhang Peng show in less than a week. Research Group. might be “a leading indicator” of whether mates,and a number of high-profile works But art experts fear this is just the begin- viewers are happy and will stick around. didn’t even attract bids. ning of the art market’s collapse, and some Correction justified “The market is down by a third on av- predict a shakeout among the 400 galleries some art executives contend that the CLARIFICATION erage, even from last spring season,” says in Chelsea in the coming year.For now,deal- high-flying art market of late was in dire Legg Mason is cutting staff in its capital management division Ian Peck, chief executive of Art Capital ers are cutting costs everywhere they can. need of a correction. by one-third. This fact was not clear in the Nov. 10 story “The Group. “There is certainly a reduction in Ms. Cullen is moving out of her 2,000- “What’s happening now seems to me axman cometh.” transaction activity.” square-foot gallery into one half its size what one might call normalcy versus the To be sure, there are still deep-pocket- and plans to sell work in the secondary hyperreality we were seeing in the last three vol. xxiv, no. 46, november 17, 2008—Crain’s New York Business ed collectors snapping up work, and many market on the Internet, instead of staging or four years,” says Michael Sellinger, a (issn 8756-789x) is published weekly by Crain Communications Inc., 711 Third Ave., New York, NY 10017. Periodicals postage paid art aficionados are taking advantage of the big shows for up-and-coming artists. principal at Cottelston Advisors, which at New York, N.Y. and additional mailing offices. Postmaster: rout to pick up bargains.Frank Bernarduc- Mr. Bernarducci has canceled plans to produced the recent Asian Contemporary Send address changes to: Crain’s New York Business, Circulation Department, 1155 Gratiot Avenue, Detroit, MI 48207-2912. for ci,a dealer on East 57th Street,says a client exhibit at art shows for at least the next six Art Fair.“It will give the artists a chance to subscriber service: Call (888) 909-9111. Fax (313) 446-6777.$3.00 recently offered him $21,000 for a $35,000 months, including Art Chicago, the Ar- focus on their work instead of trying to sell a copy, $59.79 one year, $109.79 two years. (GST No. 13676-0444- RT) ©Entire contents copyright 2008 by Crain Communications painting.They agreed on a price of around mory Show and Art 20. out their studio during the first year of their Inc. All rights reserved. $28,000. “I’m not taking any chances,” he says. M.F.A. program.” MISERY METER A fix for pricey policies? Weekly reading on the direction of the city’s economy. Empire, United lobby Advocates for reform say combining those in the small-group market—about 1.7 POSITIVE NEGATIVE markets would lower costs for individuals. million New Yorkers.Combining the mar- for reforms to reduce The insurers may find a receptive ear in kets would mean spreading that risk over a + CLOUDY - Albany,where lawmakers are grappling with broader pool. According to a study by the individual health costs the swelling ranks of the uninsured. Many United Hospital Fund, individual premi- S Y T people who are laid off turn to the individ- ums would fall by 37%, while small group O BY BARBARA BENSON N R ual market, where premiums are as high as premiums would rise by 3.1%. N M U $4,300 a month for a family in Manhattan. “It’s hard to imagine small businesses Y S momentum is building for reform of wanting to subsidize this,but whether they New York’s troubled individual insurance Reform has good chance protest depends on how big the hit is,”says market as a way to help people who have “i think the odds of reform are pretty Mark Scherzer, legislative counsel, New lost their jobs in the economic upheaval. good,” says David Sandman, senior vice Yorkers for Accessible Health Coverage. -25% $5.2B -9.0% That market,for people who don’t get cov- president at the New York State Health UnitedHealthcare has put forward an DROP IN ONLINE BUDGET SAVINGS DECLINE IN erage through employers or other groups, Foundation, which is sponsoring a confer- alternative proposal to use the administra- JOB ADS in NY in sought by Gov. BLOOMBERG/ has virtually collapsed as premiums have ence on Monday on the topic. tive structure and vendors of the New York October vs. 2007 Paterson over the CRAIN’S NY stock (Monster Worldwide) next 16 months index last week become unaffordable. Along with people who have been laid State Health Insurance Plan, which pro- Two large insurers, Empire Blue Cross off, others who could benefit are sole provides coverage to about 1 million state and Blue Shield and UnitedHealthcare, are prietors, freelancers and early retirees. municipal employees, dependents and re- METER CHANGE from previous week pushing for regulatory change. Currently, The approximately 45,000 people with tirees.United estimates its move would cut - statutes mandate separate markets for indi- individual policies have about twice as premiums by 17% without affecting tax- viduals and groups of two to 50 employees. many medical claims a month than those payers or the small-group market.

2 | Crain’s New York Business | November 17, 2008 CNYB 11-17-08 A 3 11/14/2008 8:15 PM Page 1

Recession Watch HOW BAD WILL IT GET? Commentators are struggling to A rip in the fabric assuage fears that we could be headed for another Great Depression. Stock prices, Hit by downturn, consumer confidence and, lately, spending are dropping Ann Taylor cuts staff, precipitously, while job losses are closes stores; is mounting. Ultimately, the severity of this recession will depend on a leader to blame? host of factors, including the policies of the nation’s new BY ADRIANNE PASQUARELLI president. —AMANDA FUNG

like most stores these days, Ann Taylor’s windows feature can’t-miss sale signs, promoting 60% discounts off original prices. But troubles for the long-struggling women’s apparel retailer go beyond major markdowns and a need to KAY KRILL has been plagued 1929-33 move excess inventory. by seesawing “Looking at the past five years, problems at Financial markets implode, we find a very inconsistent sales and Ann Taylor touching off bank runs and waves earnings track record,” Robin Stores’ two of corporate failures. Murchison, a SunTrust Robinson divisions. GDP Humphrey analyst,wrote in a recent -13% research report. “In fact, inconsis- S&P -86%

tency has been the one consistency!” ap images/chart: lindström bekka JOBS -2.1M Ann Taylor Stores Corp., a $2.4 JOBLESS RATE 25% billion retailer that operates a ago, her tenure has been plagued by peal to shoppers keen on avoiding August, Ms. Krill hired Christine namesake chain and a less-expen- seesawing problems at the compa- dry-cleaning bills. Beauchamp, a former Victoria’s Se- INFLATION -9.9% sive Loft division, has been one of ny’s two divisions. Last year, Ms. “We are moving more aggres- cret executive with a consulting the retailers hit hardest by the bru- Krill pushed out Loft’s leader and sively to accelerate our cost-savings background, to lead the division. 1973-75 tal downturn this season.The com- stepped in herself as the brand initiatives and to ensure our organi- “The assortments at Ann Taylor Soaring oil prices pany’s share price has plummeted stumbled.And just as she improved zation is appropriately structured for were modernized for fall,” wrote and inflation batter by close to 80% over the past year, Loft’s offerings, Ann Taylor fal- a recessionary environment,” Ms. Michelle Tan, an analyst with the economy. nearly double that of the Standard tered. A handful of retail consult- Krill noted in a recent statement. Goldman Sachs who rates the stock GDP -2.5% & Poor’s Retail Index, and recently ants now doubt Ms. Krill’s own “neutral/cautious” in a recent re- suffered an eight-year low. Same- leadership, claiming she is spread Long-vacant post filled port. “We viewed this change as S&P -48% store sales for the third quarter have too thin and is out of touch with the most important, Ms. Krill has fi- high-risk.” JOBS -2.1M declined 19%, a bigger drop than day-to-day aspects of running the nally filled the long vacant top post The economy can only compli- JOBLESS RATE 9.0% that of competitor Talbots Inc., business. at Loft, tapping Gap Inc. veteran cate Ms. Krill’s turnaround strate- INFLATION whose same-store sales declined by “Ann Taylor is in free fall,” says Gary Muto earlier this month. gies. Ann Taylor Stores Corp.’s +11.0% 14%. Overall, sales of women’s one industry insider. “Kay Krill is a Though Mr. Muto was responsible biggest fear is a weakening in de- clothing were down nearly 2% for great merchant who has not turned for the colossal failure of Gap’s mand from women who are shop- 1981-82 the 12 months ended in September, out to be a great CEO.” Forth & Towne chain last year,he is ping in their closets and avoiding Stagflation hits, compared with the prior year, ac- Ms. Krill has taken drastic steps known as an experienced retail ex- buying altogether as they focus on taking a toll on cording to trend-tracking firm to remedy the situation.Two weeks ecutive with two decades of running family needs. Rust Belt industries NPD Group Inc. ago, she updated a three-year re- chains such as Banana Republic un- “[Ms. Krill] is juggling a lot of in particular. structuring plan to include a 19% der his belt. balls,” says Marshal Cohen, chief GDP -5.6% Lofty beginning cut in the company’s corporate With Loft’s management set- analyst at NPD. “Retail is bad S&P some observers blame the belea- workforce, and she is closing 117 tled, Ms. Krill must turn to Ann enough, but being a women’s -27% guered retailer’s current woes on underperforming stores. She also Taylor, whose latest trendy styles branded retailer is even tougher JOBS -2.7M Chief Executive Kay Krill,who was recently introduced a “Washability” may alienate the brand’s core profes- right now. You can only be as good JOBLESS RATE 10.8% responsible for launching Loft. campaign with Procter & Gamble sional women shoppers and cause as the management team you sur- INFLATION +13.5% Since she took the helm four years for Loft’s knitwear, designed to ap- heavier markdowns, analysts say. In round yourself with.” 1990-91 The commercial real estate bubble 2 MACKLOWE TOWERS pops, and waves Crisis grounds of S&Ls go bust. BACK ON THE MARKET GDP -2.5% S&P -20% the last two vestiges of Harry Macklowe’s dis- JOBS astrous $7 billion purchase of seven midtown of- carriers at JFK -1.5M fice towers are back on the market, according to JOBLESS RATE 7.3% sources. INFLATION +4.8% Earlier in the fall, George Comfort & Sons Service cut back or halted altogether reached an agreement to buy 1540 Broadway and 2008-?? Worldwide Plaza at 825 Eighth Ave. for about Port Authority of New York and BY HILARY POTKEWITZ The housing bubble $2 billion. But that deal was at least partially con- New Jersey—a handful of interna- bursts, markets freeze, tingent on NBC’s leasing a big chunk of World- 1540 Broadway tional carriers have been forced to layoffs mount. wide Plaza, which has not happened. Instead, the two years of record fuel costs stow their landing gear. buildings have been shopped around again in the compounded by the recent world- At least five foreign carriers GDP -0.3% past week. Experts say that the buildings will fetch wide credit crunch are have exited John F. S&P -42% closer to $1.2 billion in this climate. forcing many airlines to re- Kennedy International JOBS It is unclear if George Comfort & Sons is still sort to drastic measures. 6.6% Airport since 2006, in -1.2M FEWER JOBLESS RATE interested in buying the properties. A representa- Some are cutting the TRAVELERS some cases leaving New 6.5% tive did not return a call for comment. frequency of flights to cut used New York York without nonstops to INFLATION +4.6% Mr. Macklowe bought what is known as the costs, while others are re- area airports in capital cities. Bangkok lost September GDP: Real gross domestic product. S&P: S&P 500 EOP portfolio last year. But his lenders, led by ducing fares to boost de- such flights in July, when index. Jobs: Job losses, measured from peak to trough. Jobless rate: Peak unemployment rate. Deutsche Bank, took back the properties when he mand. And with the num- Thai Airways dropped its Inflation: Peak inflation rate. 2008-?? figures are couldn’t make good on some short-term debt. He ber of travelers using New York nonstop service from JFK. Malev as of Oct. 31, 2008. was also forced to sell his beloved General Motors area airports waning fast—down Hungarian Airlines had its last Sources: Bureau of Labor Statistics, Eastern Consolidated, Standard & Poor’s Index Services, Building to repay some of the loans. 6.6% in September, after dipping flight from the gateway to Bu- U.S. Bureau of Economic Analysis.

825 Eighth Ave. —theresa agovino 2.2% in August, according to the See CARRIERS on Page 7 getty images

November 17, 2008 | Crain’s New York Business | 3 CNYB 11-17-08 A 4 11/14/2008 8:16 PM Page 1

IN THE MARKETS edited by Erik Ipsen

Goldman won’t walk on water hief executive Lloyd Blankfein vigorously defended Goldman Sachs at an investor Cconference last week, arguing that the firm can remain independent and keep profits ebullient even though it will be taking on much less risk as a bank holding company. Nice try, but those arguments don’t fly anymore. Though Goldman shares SPOTLIGHT are down 69% this year, they’re still no bargain. Goldman remains Wall Street’s premiere brand, but that means little these days. Many analysts believe that the firm is on the verge of reporting its first quarterly loss since going public in 1999. Like everyone else in recent years,Goldman garnered outsize profits by making enormous leveraged bets on everything from stocks to commodities.The amount of its assets was 26 times as large as that of its capital at the end of 2007. But as a bank holding company, Goldman will be under heavy regulatory scrutiny and forced to dial down Morgan Stanley). Staring into that leverage to somewhere in the high void, Mr. Hintz plans to ramp up teens, according to Sanford C. coverage of lesser industry lights,in- Bernstein & Co. Assuming less risk cluding investment banking bou- will depress Goldman’s results for tiques and private equity shops. He years. also sees solid profits for Wall Analysts surveyed by Thomson Street’s survivors—once the finan- Reuters project that per-share earn- cial firestorm subsides. ings in 2009 will be only about half 2007’s record $12 billion, and their forecast could well prove opti- Recession sinks mistic. Goldman faces painful asset OverseasShipholding write-downs and further costly capital injections in the months since june, the world’s second- ahead. largest publicly traded oil shipper —aaron elstein has spent more than $150 million sponging up its own shares.Too bad that Overseas Shipholding Group Much ado did not wait. Since the buyback about nothing program began, its last month, Alliance Bernstein’s shares have Brad Hintz (below) got some good tumbled news. Institu- 60%, laid tional Investor low by in- magazine vestor fears named him the of a world- 315 top analyst wide eco- covering Wall nomic contraction—the same con- MADISON Street invest- cerns that have pummeled oil prices. FORMERLY ment banks.Of It could have been far worse for 50 East 42nd course, the Overseas, which operates 141 downside is tankers around the world. Since LOWER YOUR RENT WITHOUT COMPROMISING YOUR REQUIREMENTS bloomberg news that the indus- summer, owners of ships used to try has virtually vanished, with the move dry goods have seen their Overlook Grand Central on your own private terrace Big Five now either bust (Bear and freight rates collapse by 93% as ris- Lehman), merged (Merrill) or con- ing numbers of ships have collided THE PRESTIGE OF verted to a bank (Goldman and head-on with a steep fall in demand. TO BE PRE-BUILT: MADISON AVENUE 5,012 SQ. FT. FLOOR WITH DIRECTLY ACROSS THE STREET 3,329 SQ. FT. OF FROM GRAND CENTRAL NO BREAK FOR THE DOWNTRODDEN NORTH VIEWS OVERLOOKING PRIVATE TERRACE THE MIDTOWN SKYLINE Eleven New York area companies have seen their -18% NEW ENTRANCE CANOPY shares plunge more than -1% 90% this year. Three of the bigger ones are still kicking -39% FIFTY YEARS but lost more ground last 212.687.2655 Visit Our Website For Availibilities & Floorplans: week. Avis Budget Ambac Sirius XM www.abramsonbrothers.com Murray Hill 7-2655 SINCE 1957 Project6 11/12/08 12:56 PM Page 1

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NEW YORK,NEW YORK edited by Valerie Block

Connect the dots; see who’s gone or more than 20 years, investment bankers have relied on their Bloomberg terminals for financial news. Lately, they are turning to them for more sensitive Finformation: deducing who’s the latest to get sacked. It works like this: Bloomberg machines contain color codes showing others how recently they’ve been used. A green dot near a name means the customer is currently using his terminal, a yellow dot means the terminal has been idle for a few minutes, and red means the customer isn’t logged in at all. With financial institutions in the process of shedding 45,000 jobs, according to Gov. David Paterson’s office, a red dot is increasingly interpreted to mean that someone got the ax. This version of Connect the Dots, while hardly foolproof, offers useful insights into which banks and divisions are seeing the biggest layoffs. “Look, with the market going crazy almost every day, no one can afford to be separated from their Bloomberg for more than a few minutes,” reasons one Wall Streeter. “If you aren’t logged in, I don’t think it’s unreasonable to suppose that you lost your job.”

blogosphere, which has grown up Jean V. Naggar Literary Agency Chefs chauffeur entirely under—and in opposition Inc. new Beaujolais to—President George W. Bush, The publisher announced last crumble now that its mission of month that it would reduce the who says you can’t drink and electing a Democrat has been royalty rate for e-books to 25% of drive? The first 2008 Beaujolais accomplished? the net payment it receives, from Nouveau will be arriving by Not likely. In fact, left-leaning 25% of the list price, a number motorcade this year, escorted by Web sites like Huffington Post that is increasingly being ignored. 20 bike-riding chefs and several and Talking Points Memo are Amazon, for example, charges a members of the Harley-Davidson staffing up, hiring reporters top price of $9.99, even as Hog Club of New based in Washington, to Random’s Web site lists e-books York. cover the new of new hardcovers at $17.95. On Thursday, administration. Agent Gail Hochman, president Nov. 20, the year’s Even Markos Moulitsas of the Association of Authors’ first cases will be Zúniga, who founded Representatives, says that the hand delivered by über-liberal Daily Kos, change “makes many agents the Beaujolais plans to expand. He says nervous,” but that the group is Bikers, led by David it has more to do with studying the issue. Bouley (right). He growing revenues than Random House says that it’s will be with Barack Obama’s just bringing its royalty rate in line chauffeuring the victory.“We’ll do what with other publishers’ and that the

bottles to his new bloomberg news we’ve always done—hold change will be good for authors in restaurant, the administration the long run. Secession, on Hudson Street. accountable as we promote our The ride is scheduled to start agenda,” he says. “We won’t be Contributors: Aaron Elstein, Matthew around 10:30 a.m. in Battery Park, like Rush Limbaugh, who carried Flamm, Hilary Potkewitz, Matthew Weiser cruise through TriBeCa and end water for a corrupt party and Sollars at Secession for a tasting administration.” The Definition of ceremony. Jean Georges chef Johnny Iuzzini, OPERA ORIGINALS Landmarc chef Marc Murphy and Publisher cuts Excellence in Accounting THE METROPOLITAN OPERA Rouge NYC’s Cedric Tovar will be e-royalties opens its and Consulting Services riding alongside. Other biker redesigned gift shop on Nov. 25, just in chefs in the delivery squad include publishing goliath time for the holidays. Though retailers Weiser LLP is a full service rm with professionals who are Café des Artistes’ Joseph Paulino, Random House Inc. may expect a blue Christmas, opera buffs may dedicated to assisting clients in a variety of industries including: Payard Patisserie & Bistro’s be in for a fight with find it hard to resist items spe- • Apparel • Manufacturing and distribution François Payard and Pamplona’s Alex agents and authors. After cially created for the Met, • Automotive • Media and communications Ureña. Dec. 1, a new contract like $869 Swarovski crystal opera • Financial services • Not-for-pro½t The Georges Duboeuf winery provision kicks in that glasses (right) • Health care • Real estate is sponsoring the unusual event, could cut into e-book Franck Duboeuf or Kazuhiko • Life sciences with presiding over royalties and make its the uncorking ceremony. authors a little poorer—if Tanaka’s Madama For more information, contact Douglas Phillips at 212.375.6701. e-books ever become a big Butterfly-inspired fig- business. urines, priced from $85 Weiser LLP Certied Public Accountants Blogs make The deadline to $175. For the budget- OFFICES: New York City | Long Island | Westchester | New Jersey liberal additions “definitely is motivating minded: gold letterpress note card collec- me” to finish deals, says tions, starting at $5. © 2008 Weiser LLP – All Rights Reserved www.weiserLLP.com so, will the liberal Jennifer Weltz, a partner at

6 | Crain’s New York Business | November 17, 2008 CNYB 11-17-08 A 7 11/14/2008 8:34 PM Page 1

sible company out there right now, is preparing against future risk,”Mr. Tech firms react to Wall Street woes Traasdahl says. Businesses are also freezing new Continued from Page 1 the online ad market, Heavy.com Manhattan-based Thumbplay, hiring,according to Mr.Flannery of provider Thumbplay. Industry ob- ‘To hold on cut 14% of its 100-member staff last which sells ring tones and mobile Redwood Partners. He was con- servers expect others to make simi- month, according to the company. entertainment content, had grown ducting half a dozen searches for lar moves in the coming months. to capital, they Meanwhile, Razorfish, a unit of to about 70 employees over the past senior-level executives, and all have “It is inevitable—everyone is Microsoft’s aQuantive subsidiary, two years and acknowledges only been put on hold. concerned about the economy,” says must get leaner confirmed laying off 40 people in its that it recently reduced staff. Many warn that the next six to 12 Michael Flannery, senior managing financial services group in New months will be rough as companies partner of Redwood Partners,a con- and meaner’ York.The midtown office, the digi- Cutting despite revenue gains hunker down, scrutinize cash flow sulting and executive recruiting firm tal agency’s largest location,had 415 founder and Chief Executive Are and re-evaluate revenue forecasts. that specializes in tech. “They want employees in August.Razorfish says Traasdahl says the cuts were neces- But “tech is here to stay,” Ms. to hold on to capital, and to do so it is providing job-search assistance. sary,even though Thumbplay is still Jobanputra insists. “Startups that they have to get leaner and meaner.” “Media, advertising and finan- on track to exceed 50% year-over- can operate efficiently as ad revenue The tech sector, which tends to area were down 25%, from October cial services are particularly hard- year revenue growth. The firm also declines and customers retrench, lag the overall economy, began 2007, according to Dice.com, a hit,” says Jalak Jobanputra, senior raised $18 million in venture fund- and have some flexibility in their weakening in October. Online list- tech-specific job board. vice president of the New York City ing this year. business models, are ones that will ings for positions in the New York To prepare for an expected dip in Investment Fund. “Thumbplay, like every respon- survive and continue to get funded.” Carriers grounded 810 CORPORATE Continued from Page 3 SEVENTHHEAVEN dapest on Oct. 25, then dropped trans-Atlantic service altogether. “This summer’s high fuel costs took a big toll on airline balance sheets,” says Henry Harteveldt, airline analyst with Forrester Research. “Plus,we have a global financing and credit problem, and let’s not forget REBUILDING about bad management.” FROM THE INSIDE OUT The recent drop in oil prices won’t show up on airlines’ bottom line for several months, and carriers can’t afford to operate unprofitable routes, regardless of the prestige of • NEW LOBBY serving New York. “The airline industry is no longer • NEW ELEVATOR CABS built on national or corporate pride,” Mr. Harteveldt days. • NEW CORRIDORS “Whether public or private, airlines need to show that serving a market • NEW RESTROOMS makes good economic sense.” Even countries with robust tourism have been forced to hobble their flag carriers. Though its JFK- Bangkok flights were 80% full,Thai Full ﬂ oors of Airways said that the route was losing money. Aerolineas Argentinas 17,320 and 22,437 sq. ft. halted its JFK service in May. And Israir Airlines, a government- Pre-built suites from owned Israeli airline, stopped flying 3,800 – 8,500 sq. ft. to New York in September. Then there are the routes less traveled. Low-cost Zoom Airlines, 34,640 contiguous sq.ft. based in Ottawa filed for bankruptcy in August and ceased operations, including JFK. In 2006, Biman Bangladesh airlines exited JFK, and Toram Romanian Airlines handed off its New York-Bucharest service to Continental Airlines in a code- David A. Falk EVP and Principal 212-372-2271 sharing agreement. [email protected] Icelandair, based in Reykjavik, is Peter T. Shimkin Sr Managing Director 212-372-2150 desperately trying to lure visitors to [email protected] its bankrupt island nation by offer- Daniel L. Levine Director 212-372-2319 ing cut-rate deals and weekend [email protected] packages from New York.Mumbai- based discount carrier Jet Airways, which launched flights to U.S. cities including New York earlier this year, just canceled its San Francisco Larry A. Swiger SVP 212-216-1628 service. More cuts are likely. [email protected] As of Oct. 31, 52 foreign airlines Christopher A. Gulden VP 212-356-4105 were in JFK terminals, down from [email protected] 56 a year earlier. Ashley M. Gee Associate 212-216-1618 But it’s not all gloom and doom, [email protected] according to the Port Authority. “We never like to see an airline 810seventh.slgreen.com slgreen.com leave the airport, but at JFK, that void gets filled pretty quickly,” a spokesman says.

November 17, 2008 | Crain’s New York Business | 7 CNYB 11-17-08 A 8 11/14/2008 8:44 PM Page 1

scrub bathrooms. Hedges ax But Mr. Destefano had just purchased a fleet of new buses because the old ones were no longer usable their space on Department of Education routes. Monthly payments needed to be made on the loans he used to Continued from Page 1 finance the purchase. Rent still best addresses is contributing to the came to $11,000 a month.The price overall rent declines. of uniforms went up, as did the cost “Landlords would hear about a of tires and other parts. hedge fund doing a great [office lease] deal, and then they decide to Credit freeze raise their rents, too,” says John caravan quickly started to fall Johnson,a senior managing director into financial peril. “You can’t have at Studley Inc.“Many of these firms buses sitting in a yard not moving wanted to be in the best buildings and expect to pay your notes on and have the best-built space.” them,” he says. “Buses don’t make At least 300,000 square feet of money sitting still.” platinum-plated space is already up Mr. DeStefano thought he for grabs. A record 70% of hedge might be able to borrow money to funds reported losses through Sep- help keep the company afloat. But tember, and the average fund lost NO QUICK FIX: like many small business owners, he Caravan Transit’s 15.4% of its assets through Octo- owner knows it will be found out that financing was not ber—the biggest drop ever, accord- difficult to keep the easy to obtain. His $250,000 line of ing to Hedge Fund Research Inc. company running. credit was pulled back by the bank. Through June, 350 hedge funds He tried borrowing money from

liquidated.If that pace continues,the buck ennis three banks—Capital One, Com- number of liquidations could be 25% merce and Chase—but was denied. higher in 2008 than in 2007. Mean- “Due to the credit crisis, the while,fewer funds are being founded. Bus company faces rocky road company wasn’t able to borrow from The combination of factors is any traditional lending sources,” triggering a blizzard of “Vacancy” says Sherri Lydell, the attorney rep- signs. Continued from Page 1 fano maintains his humble roots. business transporting special educa- resenting Caravan in bankruptcy “Anybody looking for 10,000 Jeffrey DeStefano realized his time Owning Caravan was supposed tion students. court. “Given the company’s finan- square feet of nicely built space has a was running out.Some $2 million in to be the highlight of his career.And “The guy who sells bread and cial situation, no one was interested lot of options,”say Barry Gosin,chief debt, he filed for Chapter 11 bank- for a while, despite tight margins milk and anything you can think of, in making any type of loan.” executive of Newmark Knight Frank. ruptcy protection last month. and 13-hour days, it was. But in the that person can add a fuel sur- So Mr. DeStefano put his sav- Mr. DeStefano is not the only past year or so, a maelstrom of trou- charge,” he says. “We cannot.” ings into the company—about Many buildings hit small business owner struggling ble has enveloped the family-run Fuel increases alone would have $600,000 in all, including money he the choices are in some of the city’s during what could be a severe reces- company,where Mr. DeStefano, his been enough of a setback, but Cara- got from selling his mother’s house swankiest buildings. Citigroup, sion. But his story, perhaps more wife, daughter, brother-in-law and van was facing another crisis. De- when she died.For weeks,he put his pulling the plug on its Old Lane than most, encapsulates the deep future son-in-law all work. partment of Education officials cut own salary back into the business. hedge fund,recently dumped rough- pain some businesses are feeling The company had already been routes in August in an effort to save “I’ve wiped out everything,” he ly 20,000 square feet at 500 Park Ave. over events that, in many cases, are operating on razor-thin margins be- money. Caravan was among those says. into the market, Similarly, the de- out of their control. hit hardest, losing $4 million worth Now, he’s hanging by a thread. mise of The Carlyle Group’s Blue For the Ozone Park,Queens,na- of business—or roughly half of its He borrowed buses from competi- Wave fund unleashed 24,000 square tive, the Chapter 11 filing was a ‘Every week, it’s annual revenue. tors to keep his routes going in the feet at 1177 Sixth Ave. crushing coda to a year during Caravan isn’t the only school bus wake of the repossessions.He hopes SAB Capital is seeking takers for which every gloomy economic a struggle to company affected by the city’s cut- to reorganize in Chapter 11 and 9,000 square feet it occupies at the headline seemed to hit home.When backs. A competitor, Minibus, went keep the business running, but he General Motors Building, while gasoline prices spiked, Mr. DeSte- make sure we out of business earlier this year. And knows that’s a daunting task. Clinton Group wants to unload fano had to shell out an extra $3,500 others are just scraping by, says Pe- “Every week, it’s a struggle to 30,000 square feet at 9 W. 57th St. a week for fuel. When the Depart- have payroll’ ter Silverman, general counsel for make sure we have payroll,” he says. David Hoffman, executive man- ment of Education scaled back the New York City School Bus Hanging in the balance are Mr. aging director at Colliers ABR, says routes to save money,his annual rev- Contractors Coalition. DeStefano’s Staten Island home anyone looking to lease space has a enue was sliced in half.And when he “As costs increased with regard to and his beloved 2001 Harley- big selection. He is working with a sought out a loan to help stabilize his fuel, labor and equipment, the con- Davidson Road King Classic,which hedge fund that wants 20,000 square company,he was rejected,becoming cause of skyrocketing employee tractors found themselves with were put up as collateral for his feet and has already seen three prop- another victim of the credit crisis. health care costs. Just eight years smaller and smaller margins and un- loans. erties that fit the bill beautifully. ago, Mr. DeStefano paid $496 per der substantial pressure to stay His health is also at risk. A sur- His advice? “I keep telling them Humble roots employee for family coverage. To- afloat,” he says. vivor of open heart surgery, he isn’t to sit tight,” Mr. Hoffman says. mr. destefano, 56, bought Cara- day, the same plan costs $1,136. Caravan was forced to make cut- sleeping, is barely eating, and re- “There’ll be more space coming.” van in 2000 for about $1 million, a Though gasoline prices have backs of its own.It trimmed expens- cently has resumed smoking—tear- That insight might depress crowning achievement for a man come down in recent weeks, they es by about $600,000 through laying through two packs a day after a landlords, including the owners of who worked his way up in the indus- soared sharply earlier this year. Mr. offs; 25 drivers, 25 escorts, a six-year hiatus. two buildings coming on line that try.Over 30 years, he had gone from DeStefano went from paying about mechanic and a dispatcher were no But Mr.DeStefano worries most were designed with hedge fund- driver to dispatcher to general man- $2.60 a gallon last year for diesel fuel longer needed because of the firm’s about his remaining 60 employees, type clients in mind: 545 Madison ager to vice president, president and to shelling out around $5 a gallon reduced workload. The office staff many of whom he’s worked with for Ave, which just underwent a gut finally owner. A watercolor of Jack- this past summer. His contract with was cut from 11 to eight. Security decades. renovation, and 510 Madison Ave., ie Gleason as Ralph Kramden, the Department of Education had for the bus yard had already been jet- “If it was just me,it would be a lot a new, 30-story tower. Brooklyn’s most fabled bus driver, no provision enabling him to pass tisoned. Then it was time for the easier to deal with,”he says.“But the The latter building, owned by hangs over his desk, a sign that de- those increased costs along to the cleaning company to go. Everyone loss of the company would affect a Macklowe Properties,boasts a pool, spite his rise to the top, Mr. DeSte- city, which provides the bulk of his now pitches in to mop floors and lot of people.” private health club and even a golf simulator. Asking rents are between $120 and $170 a square foot. It has UNEMPLOYED DRIVER FORCED TO CUT BACK To save $20, he does laundry every other week one office tenant. instead of weekly. He blow-dries and colors his LCOR Inc.,owner of 545 Madi- WITH CARAVAN on the brink of collapse, its routes. The 51-year-old Brooklynite has been wife’s hair at home instead of giving her money to son, has yet to snare a single office approximately 60 employees are bracing for the searching for a job ever since, without much luck. go to a salon. He walks instead of taking the tenant for the 17-story building, worst. Going almost three months without work has subway and bus. where rents are $100 to $150 a “I don’t know if I’ll be able to work tomorrow or forced Mr. Velazquez to adjust his lifestyle. The The most painful cost savings came earlier square foot. the next week,” says bus driver Luis Torres, who changes start first thing in the morning with a this month, when his daughter, who suffers from Representatives for the build- has been with the company for nine years. breakfast of bread and coffee instead of eggs and brain damage, turned 27. The traditional ings say there is some elasticity in Despite the uncertainty, drivers like Mr. Torres sausage. In fact, his family’s entire diet has celebratory meal at McDonald’s had to be put off. rents. Each insists that their will- are the lucky ones. At least they still have jobs. changed. Chicken is treated as a delicacy, cut in “We did it every year, and this year we didn’t ingness to build out space to ten- Angel Velazquez was one of about 50 workers laid half to last for two meals. “I’m turning practically do it,” he says. “There was no way we could spend ants’ specifications in a brand-new off in August when Caravan lost half of its bus into a vegetarian,” he says. $20 when we knew we had bills to pay.” property sets them apart from the sublease space on the market.

8 | Crain’s New York Business | November 17, 2008 Project4 9/29/08 1:39 PM Page 1

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VIEWPOINT NY must play by budget rules editor in chief Rance Crain publisher, vp Jill R. Kaplan pponents of Gov. David Paterson’s always possible that a new federal stimulus package will editorial director Greg David plan to cut $5.2 billion from the state include increased aid to the states, but no one thinks that EDITORIAL editor Xana Antunes budget over the next year and four New York will get more than $1 billion. And even Assembly managing editor Robert Hordt months need to answer a simple Speaker Sheldon Silver concedes that it is no longer possible deputy managing editors Valerie Block, Erik Ipsen question: What would they do to soak the rich, who aren’t as wealthy as they used to be. contributing editor instead? So far, no one has given A tax increase probably will be part of the state’s solution, Elizabeth MacBride columnist Alair Townsend an answer, because the governor’s but it will be painful for the vast majority of hard-pressed senior reporters Theresa Agovino, logic is unassailable. workers, who will see their take-home pay go down. Aaron Elstein, Erik Engquist, Lisa Fickenscher, Matthew Flamm, Miriam Kreinin Souccar The proof is in the math.The current budget for the year Albany needs to act like everyone else. Educators, health O reporters Barbara Benson, Amanda Fung, ending March 30 puts the state $1.5 billion in the red. If that care providers and, especially, Republicans claim that it is Daniel Massey, Adrianne Pasquarelli, Hilary Potkewitz, Gale Scott, Matthew Sollars money is rolled into next year’s budget—and many unfair to change the budget in the middle of the year.They restaurant critic Bob Lape legislators seem to prefer that approach—the 2009-10 deficit are the major culprits art director Steven Krupinski deputy art directors Carolyn McClain, balloons to $14 billion. Even if the governor’s plan is adopted Companies and behind the reckless Daniel Mednick as is, which is highly unlikely, the state will need to find an spending plan adopted staff photographer Buck Ennis workers across copy desk chief Wendy Zuckerman additional $8 billion next year. last April.This problem copy editors Michele Arboit, When it comes to cutting the budget, the state has to look is their doing. Thaddeus Rutkowski the state are research editor Denise Southwood where the money is. School aid accounts for a third of the Meanwhile, www.crainsnewyork.com budget, health care approaches a quarter and state workers’ tightening belts companies across the web producers Kira Bindrim, Elisabeth Butler Cordova salaries are the next biggest expense.There is no way that the state are tightening budget can be reduced without paring funding in those three their budgets for the EDITORIAL AND ADVERTISING OFFICES 711 Third Ave., New York, NY 10017-5806 areas. second or third time editorial: 212.210.0277 Fax 212.210.0799 advertising: 212.210.0259 Mr. Paterson’s analysis of the budget is correct. His this year.They are Cable craincom nyk position from the day he took office has been that state finding ways to do more with less. And their workers know Fax 212.210.0499 Entire contents ©copyright 2008 Crain spending is simply too high, that it is increasing too fast and that they aren’t getting any bonuses this year, they won’t see Communications Inc. All rights reserved. ®CityBusiness is a registered trademark of MCP that it must be reduced. In recent years, the state budget pay increases next year, and they will have to pay more for Inc., used under license agreement. grew at twice the rate of inflation.The current budget, health care. TO SUBSCRIBE: adopted in early April, included a 5% increase in spending Approving the governor’s plan to reduce school aid Call 888.909.9111; fax 313.446.6777. $3.00 a copy, $59.79 one year, $109.79 two years. even though it was clear that Wall Street, which provides a (primarily to wealthy districts), trim health care spending www.crainsnewyork.com

fifth of all state revenues, was in free fall. and ask state workers to forgo raises is the least that the ADVERTISING AND MARKETING The feds and the wealthy can’t rescue New York. It is Legislature can do. senior account managers Cornelius P. Gore, William E. Squitieri commercial real estate sales manager Cory Marks account executives LETTERS TO THE EDITOR Irene Irvill, Courtney McCombs, Anthony Mowad western account manager Ellen Mazen (Los Angeles) 323.370.2477 sales manager, classified print & online John Gallagher sales coordinator, print & online Unmaking the case for bonuses Lulé Haznedari sales coordinator Anita Perrino TRICKLE-DOWN JUST ANOTHER during periods of excessive profits. real leadership and those who credit Todd J. Masura 313.446.6097 WITH A TWIST SHAKEDOWN However, we are experiencing a engage in political demagoguery. marketing director Amy Crossman period of excessive losses. While Mayor Bloomberg marketing manager Jill H. Bottomley marketing coordinator Jenny Mashberg it is indeed fortunate that i have a problem with Greg In fact, Wall Street is losing so offers solutions in facing a $4 circulation manager Andrea Richardson Crain’s New York David’s case for much that Secretary Paulson’s first billion debt, others are more assistant circulation manager Business has bonuses. action under the Troubled Assets concerned about positioning Rosalie Ford Alair Townsend By some Relief Program was to make a themselves for future elective general manager, interactive as a columnist, accounts, five $125 billion equity investment in office. Council Finance Marc Minardo because Greg Wall Street firms nine troubled banks. A portion of Committee Chairman and 2009 web developer, interactive David’s column paid out $37.6 that will go toward paying bonuses candidate for NYC Comptroller Chris O’Donnell in the Nov. 10 billion in 2006. at firms that have suffered record David Weprin’s lack of support NEW YORK PRODUCTION issue, “Making From 2001 thru declines in earnings.This is why I speaks volumes. production and pre-press director the case for 2006, the total and others are outraged about Just how does Mr. Weprin Michael Corsi Wall St. wage increases bonuses. propose to find the $256 million to advertising production manager bonuses,” is given to adam arnow support this refund? His naive Marilyn DeMilta totally off the nonmanagerial belief that Albany and PUBLISHED BY CRAIN COMMUNICATIONS INC. wall. and nonfarm FACING UP Washington will come to the chairman Keith E. Crain In her workers, or rescue makes no sense. Both have president Rance Crain john h.john howard TO FACTS columns, Ms. almost 100 their own budget shortfalls secretary Merrilee Crain Townsend has demonstrated a million people, was less than half “forget the rebate check, amounting to tens and hundreds treasurer Mary Kay Crain executive vp, operations William Morrow balanced and thoughtful that total. mate” (The Insider, Nov. 10) of billions. senior vp, group publisher Gloria Scoby approach to the problems of the Wall Street has become like the illustrates the difference between larry penner group vp, technology, circulation, economy. mob—they take a percentage of all manufacturing Robert C. Adams Is Mr. David actually serious business in this country. vice president/production & when he suggests that the harvey brownstein manufacturing David Kamis WHAT’S COMING UP IN CRAIN’S? chief information officer Paul Dalpiaz charitable activities of some corporate circulation director people in the financial services SO MUCH WRONG Patrick Sheposh industry justify the bonuses that Privately Top Commercial Top WITH THIS PICTURE . all of them receive—whether they Held Property Small Business founder G.D. Crain Jr (1885-1973) chairman Mrs. G.D. Crain Jr. (1911-1996) give anything back or not? i was very troubled by Greg Companies Managers Lenders I am really appalled. David’s column. I can well Nov. 24 Dec. 1 Dec. 8 robert m. kaufman understand excessive bonuses

10 | Crain’s New York Business | November 17, 2008 CNYB 11-17-08 A 11 11/13/2008 7:23 PM Page 1

Companies large and extend prevailing wage require- small rely on Amper, and ments—union pay and benefits—to construction projects that are subsi- you can too. dized by industrial development agencies through tax-advantaged bonds or tax abatements. One study found that the bill would raise construction costs for IDA projects across New York state’s seven metropolitan regions by an average of 36%. Locally, union officials and their allies in the City Council have con- centrated on zoning as a hook to force developers and others into paying union wage rates and benefits.The Bloomberg administration has capitulated to such demands in its plans to develop Willets Point, Queens, and to rezone a large swath of Brooklyn. In Willets Point, city officials john h.john howard agreed to requirements that all construction be done by union contractors; that a hotel and convention center be union-affiliated facilities; and that building-services workers, including security guards and door- men, be paid union scale.They also said they would oppose big-box It’s payback time stores at the site because most are not unionized. A City Council committee “Seeing Beyond the Numbers...” on worker choice unanimously rejected a land-use www.amper-pc.com application to build a BJ’s Whole- sale Club in the Bronx—even oth sens. obama and joe biden sponsored the though the project had been ap- misnamed Employee Free Choice Act, a measure proved by the local community board and the City Planning Com- that would let unions avoid secret ballots on organ- mission—because BJ’s is non- izing if they collect enough signatures from work- union,and unions had mobilized in ers.The bill passed the House last year in a straight opposition. party-line vote but was blocked in the Senate by a Republican Close readers will recall that I B hoped the national election would filibuster. produce a filibuster-proof majority in the U.S. Senate. I thought that Unions invested opposition and worker would hold Democrats accountable heavily in the Obama- hesitancy.Labor leaders and make progress in moving the We are pleased to have represented Biden ticket, and the predict that it could country forward, even as I voiced Employee Free Choice swell their member rolls concern about how they and Oba- Act is a major reason for by nearly a third. As- ma would deal with labor matters. that support. Orga- suming modest dues of The card-check bill was the issue nized labor spent nearly only $50 a month, new uppermost in my mind, then and Wurk Environments $450 million in the members would bring now. election and countless in $3 billion. It looks like the Democrats did hours contacting mil- The Employee Free not reach their 60-seat goal, and I lions of voters by mak- Choice Act is part of a have mixed feelings about that. I in the lease of 64,788 SF ing phone calls and ALAIR larger union strategy cherish my right to cast my vote in knocking on doors. TOWNSEND that involves turning to private and don’t want to deny Passage of the bill is government to legislate workers the same right. I freely ad- one of their highest pri- what it cannot negoti- mit to hoping that the Employee orities, because the act would make ate on its own. In Albany, unions Free Choice Act will be filibustered at it far easier to overcome employer have been pushing a bill that would to its deserved end. 1515 Broadway New York, NY CRAIN’S ONLINE POLL Should the government keep pouring money into AIG? 580 VOTES Date of poll: Nov. 10 Yes. Letting AIG fail would be a 26% . No. The government worse alternative. obviously doesn’t know how much it is Adam Rappaport represented the tenant 53% going to cost to keep . No. It increases the in this transaction. AIG afloat, and we likelihood that can’t give companies 20% taxpayers will have to a blank check. . bail out more companies down the road.

Percentages do not add up to 100 because of rounding. bloomberg news For this week’s questions: Go to www.crainsnewyork.com to have your say.

November 17, 2008 | Crain’s New York Business | 11 CNYB 11-17-08 A 12 11/13/2008 7:07 PM Page 1

Starrett City sale DHL puts stop on hold; owner, HUD to deliveries squabble over rents [for retailers],” says Scott Silver- Mail company man,executive director of Shop.org, to halt U.S. service, the online research arm of the Na- Bidder believes deal will still get done tional Retail Federation. “Retailers eliminate 9,500 jobs who had been depending heavily on a staggering blow to the bid- DHL now need to scramble to find BY DANIEL MASSEY ders, government agencies, ways to fill the gaps.” elected officials and tenants BY ADRIANNE PASQUARELLI One such company is Lord & the sale of starrett city has who have worked for almost Taylor,which entered into an exclu- been delayed because the owner of two years to keep the nation’s STARRETT CITY shoppers are expected to spend sive shipping contract with DHL the sprawling Brooklyn complex largest federally subsidized contains 46 $44 billion online this holiday sea- earlier this year. As part of a re- and federal housing officials have housing complex affordable. apartment towers. son, but few of their packages will branding of its Web site, the 47-

been unable to agree on the fair mar- “I still believe that there’s ap images arrive in familiar red-and-yellow store chain chose DHL to handle its ket value of future rents. a will from all parties to get DHL envelopes. package shipments. Lord & Taylor Starrett City Associates had ini- this deal done,” says Don Cogsville, amount and what it determines is In another blow for retailers,mail did not return calls for comment. tially expected to select a winning chief executive of The Cogsville fair market rent for the unit. HUD and logistics company Deutsche Monday’s news will also affect bid by early September,but the own- Group,part of a team that still hopes presented Starrett City Associates Post AG, owner of DHL, an- the U.S.-based events of IMG’s er feels rents set by the Department to win control of Starrett City. with its first appraisal in September. nounced Monday that it will close all Fashion Weeks in Los Angeles and of Housing and Urban Develop- “Enormous time and energy have The numbers were below the own- of its DHL express service centers in New York,for which DHL is the of- ment are too low, preventing it from been put into it. I don’t think people er’s own appraisal, and the two sides the U.S. and cut 9,500 jobs here. ficial express and logistics partner. gaining fair value for the property. are going to walk away.” have been trying to come to an Though the company is not stop- Retailers who signed shipping “It’s kind of on hold now,” says a agreement ever since. ping its international shipping to and contracts with DHL will now need source with knowledge of the sales An extension New York State Housing Finance from the United States, the shut- to turn to other large-scale providers, process. “Starrett City Associates late last month, the delay caused Agency Chief Executive Priscilla down of its domestic express ship- such as UPS and FedEx,to ship their thinks rents were set a little low.Ob- officials to extend indefinitely an ex- Almodovar also remains optimistic a ping by land and air is part of a larg- goods, but experts say that doesn’t viously, if you set the rents low, it piring memorandum of understand- deal will get done. “From govern- er plan to limit U.S. operations amid necessarily mean big price increases. changes the price.” ing between the owner and federal, ment’s perspective, we believe the heavy competition from FedEx “You’ve got a very competitive There has been speculation the state and city agencies that outlines a rents are the fair rents,” she said. Corp. and UPS Inc. DHL is expect- war going on between UPS and owners might pull the property off plan to keep the complex affordable. Bids were initially expected to ed to close all of its U.S. ground hubs FedEx. I doubt if either of those the market if they don’t get the rent Under the agreement, 60% of approach $1 billion, but the finan- and end all domestic shipping by Jan. companies can raise their prices numbers that will give them what tenants would pay 30% of their in- cial meltdown means the 5,881- 30.The company is estimated to con- much,” says C. Britt Beemer, they think the 46-tower complex near come toward rent, with HUD mak- unit complex will probably sell for trol about 4% of domestic shipping. founder of consumer behavior com- Jamaica Bay is worth.That would be ing up the difference between that closer to $700 million,if it sells at all. “It’s not a welcome development pany America’s Research Group.

12 | Crain’s New York Business | November 17, 2008 Project9 10/24/08 12:28 PM Page 1

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REAL ESTATE DEALS Girls’ school antes up We are pleased to have represented for E. Side Verizon garage Uniworld Group, Inc. take over the space that formerly square foot. Sacred Heart buys housed apparel designer Tracey The startup boutique, which ex- 3-story building Feith’s store. pects to open around Thanksgiving, “There are a lot of upscale French plans to sell apparel at a price point in the lease of 37,000 SF for $23 million; will restaurants in New York, but we slightly lower than competitors, in- want to offer an accessible price cluding babywear shop Giggle. become a PE facility Bundle’s owner,Allison MacCul- lough, found the side street more ac- atholic schoolgirls cessible and charming than other ar- at will soon replace Veri- eas of SoHo, says Kristin McCann, zon trucks streaming senior director at Sinvin Realty, who 1 MetroTech Center in and out of 406-416 E. represented Ms. MacCullough. Brooklyn, NY 91st St. Standard Realty, the landlord, CConvent of the Sacred Heart was represented in-house by Ken bought the three-story, 35,000- Rosenblum. square-foot building, between First —adrianne pasquarelli and York avenues, from Verizon for $23 million and plans to convert it into a physical education facility that Scandinavians will include a gym.Verizon has been bag a deal using the site as a garage. Terms of the deal allow Verizon to continue nordic partners inc., a consor- Shawna Menifee represented the tenant using the building through mid- tium of three Scandinavian financial in this transaction. 2010, but it could leave earlier. institutions, is expanding in New Located on the corner of Fifth SPREAD NYC will launch at 209 Mulberry St. York City. The broker-dealer has Avenue and East 91st Street, Con- signed a 10-year lease for 8,300 vent of the Sacred Heart is an exclu- square feet on the 29th floor of 150 sive all-girls institution that edu- point,” Mr. Jauslin says. E. 52nd St., between Lexington and cates students from pre-K through Brett Nidel, a broker with Verac- Third avenues. The 35-story tower 12th grade. Alumni include Caro- ity Real Estate Management, repre- is owned by Princeton Internation- line Kennedy Schlossberg and ac- sented both the tenant and landlord al Properties; asking rent for the tress Christa Miller Lawrence. Wah Kok Realty. space was about $80 a square foot. Several organizations were vying —adrianne pasquarelli Joseph Mangiacotti of CB for the site but the school won out Richard Ellis represented the ten- because of its financial strength, ac- In growth mode ant. David Tawfik, president of Joan always throws the cording to Newmark Knight Frank Princeton International Properties, broker David Noonan, who repre- at 1 Hudson Square negotiated the deal in-house. Biggest Party of the Year. sented Verizon with colleague Jen- “We had been negotiating with nifer Schwartzman. not all the news about the media them for about three months, and Be There. November 18, 2008. 6:30-9:30 pm “The school has an endowment,” business is grim. Nature Publishing once the financial crisis hit,we weren’t Mr. Noonan says.“It could close the Group is expanding as it renews its sure if they were going to continue deal.” lease at 1 Hudson Square for eight with their expansion,” Mr. Tawfik Finding the site wasn’t easy, be- years. The publisher of science and says.“By the end of our talks,they de- cause many Upper East Side schools medical journals and online data- cided to go forward with a little more are looking to expand, says Jones bases is leasing another 16,500 incentive”—a small rent reduction. Lang LaSalle broker Peter Hen- square feet. It will now occupy the Nordic Partners, which is relo- nessey. He and colleague Janet entire ninth floor, roughly 70,000 cating from 488 Madison Ave., will Woods negotiated on behalf of Sa- square feet. take occupancy in April. The cur- cred Heart. Asking rents in the building, rent tenant, Oppenheimer & Co., Mr. Noonan says schools are owned by Trinity Church, are in the departs in January. having a difficult time buying prop- low $50-a-square-foot range. It is —damian ghigliotty erty on the Upper East Side because between Watts Street, Varick Street residential developers have been and the Holland Tunnel exit. Joan’s Legacy paying top dollar for any site on The space Nature Publishing will Tenant chooses was founded to honor which they could build condos, but take over in December is built out, so change of view Joan Scarangello, whose life the block isn’t zoned for residential the company saved money, says bro- development. ker Leon Manoff of Williams Real hydromine inc. has signed a five- was claimed by lung cancer at 47. —theresa agovino Estate, a FirstService company. year lease for 4,300 square feet on Our goal is to stop lung cancer dead Cushman & Wakefield Inc. bro- the south side of the ninth floor at in its tracks. kers Robert Constable and Andrew 230 Park Ave. The firm had rented French innovator Peretz represented Trinity. comparable space on the north side. In just six years, we have awarded over $5 million in drawn to NoLIta “The deal continues to reinforce After a month-long search in the direct grants for lung cancer research. Join us! Hudson Square’s attractiveness to Grand Central area, the natural re- nolita will soon be getting another media and creative industries,” Mr. sources firm decided to stay in the Special Performance by taste of French cuisine. A new spot, Constable says. 34-story tower, owned by Monday Grammy Award-Winning Blues Artist Delbert McClinton Spread NYC, recently signed a 10- —theresa agovino Properties. Asking rent for the pre- year lease for 1,200 square feet at 209 built space was $85 a square foot. Honorary Chairmen: Tom Brokaw and Brian Williams Mulberry St., between Kenmare and Leasing agents Issa Deas and Spring streets.Asking rent was $175 SoHo stroller set’s Craig Panzirer of Monday Proper- The Allen Room at Frederick P. Rose Hall a square foot. new suit-up spot ties negotiated the deal in-house. The eatery’s concept, devised by Brokers Conor Denihan and Robert Home of Jazz at Lincoln Center co-owner Stephan Jauslin, is an infant and children’s clothing Flippin of CB Richard Ellis repre- Broadway at 60th St., New York City American version of the French tar- and accessories store Bundle recent- sented the tenant. RSVP: 212.627.5500 ext 200 tine, an open-faced toasted sand- ly signed a five-year lease for 550 “With Hydromine’s lease com- or [email protected] wich topped with ingredients that square feet on the ground floor at ing to an end, we looked at about 10 can range from cheese to caviar.The 128 Thompson St., between Houston buildings,but the new prebuilt units Parisian expects to open on March 1 and Prince streets. Asking rent for turned out to be the best fit,” Mr. and aims to develop Spread NYC the location, which includes a 500- Denihan says. into a national chain. The shop will square-foot basement, was $126 a —damian ghigliotty Project4 11/12/08 3:53 PM Page 1 Project2 11/4/08 12:12 PM Page 1 CNYB 11-17-08 A 17 11/12/2008 7:46 PM Page 1

IN-DEPTH ON THE WEB AT WWW.CRAINSNEWYORK.COM “If you have a problem or personal concern, you can bring it to your boss.” — Pressman Juan Acevedo, Prestone Printing Co., Page 26 Rising to top in eyes of workers What’s important to people? A sense of mission, community one of new york city’s best places to work goes beyond paying 100% of workers’ health insurance: It offers health insurance for their pets, too. Another sends employees and spouses out for dinner or a show every year, with no limit on the cost. Oth- ers sponsor educational jaunts to Rio and the Great Wall of China, or offer sabbaticals or yearlong fellowships to work on charity projects. These benefits and more are found among the companies selected for Crain’s inaugural list of the Best Places to Work in New York City.The 50 businesses on the list run the gamut of industry, company size and approach to management. What great workplaces have in common is a sense of community that is built on the idea of respect for employees, says Steven Balder, an associate professor in the management department of New York Univer- sity’s Stern School of Business. “People are seeking more than just a job,” he says. “All of these companies are validat- ing people and making them feel respected.” Companies create their communities in different ways. Some build it around mission. YAI/Na- tional Insti- TO BE CONSIDERED FOR tute for People THE 2009 LIST, E-MAIL with Disabili- BESTPLACESTOWORK@ ties Network falls into this CRAINSNEWYORK.COM category; YAI is a group of nonprofits serving the develop- kelly hume kelly mentally disabled. It tells potential employees:“Don’t just be successful.Be significant.” Other companies build great workplaces ABOUT THE PROJECT To find New York City’s Best Places to Work, Crain’s around social events, often emphasizing egalitarianism at lunches, happy hours and partnered with Quantum Market Research to conduct 25,399 surveys of discussion groups. At advertising agency Deutsch Inc., the architecture reinforces employees at more than 300 companies. To be eligible, companies had to the open style. “Here, everything from my office area to [chairman Donny Deutsch’s] have 50 or more employees in New York City. The 50 companies that were is wide open,” says Tyler Helms, an account director. “The openness of the space gives ranked highest by their employees were selected. LIST, PAGE 18 us the ability to be so collaborative.” Companies without big budgets can find ways to make employees feel valued, BY SIZE LOCKTON COS. ALISON BROD MICHAEL PAGE U.S. too. Online advertising firm Undertone Networks surveyed employees anonymous- Crain’s profiles A flat management style A pr firm finds freedom A company with a kinder ly last year and, after seeing the results, re- top companies rules at and fun approach duced the working day by a half-hour. on the list in this big perks to search All these perks may not survive the recession.But Mr.Balder says companies that large, midsize and broker nurture work have a culture of respect will be better able small categories Page its staff Page to navigate the difficult waters ahead.Being honest with employees, involving them in Pages 20--27 20 Page 20 22 decisions and acknowledging the painful repercussions of cuts are essential, he says. —elizabeth macbride

November 17, 2008 | Crain’s New York Business | 17 CNYB 11-17-08 A 18 11/12/2008 8:14 PM Page 1

IN-DEPTH REPORT Best Places to Work in New York City Ranked by results from employee surveys The rankings in this list were based on the results of 25,399 were asked how strongly they agree or disagree with statements surveys of employees at more than 300 New York City companies. such as: Crain’s partnered with Quantum Market Research, which ● I enjoy doing my work. developed a survey measuring the extent to which employees feel ● I understand my company’s plans for future success. valued, whether they trust an organization’s leadership and ● I trust the leaders of this organization to set the right course. whether they see potential for personal advancement. Employees ● I am always thinking about ways to do my job better.

Size key: Large, 500 or more total employees; midsize, 150 to 499; small, 50 to 149. Company Firmwide/ size/ NYC rank within Rank Company New York City office Top New York executive employees size Type of business Innovative workplace policy

Lockton Cos. 7 Times Square Michael Calabrese 3,800 Large Insurance broker Has local awards and celebrations to recognize associates 1 www.lockton.com New York, NY 10036 Chairman, Lockton Northeast 51 1 who serve clients well Alison Brod Public Relations 373 Park Ave. South Alison Brod 50 Small Public relations Employees get help with hair and makeup costs, and receive 2 www.alisonbrodpr.com New York, NY 10016 President 50 1 sample products and restaurant discounts Village Pourhouse 64 Third Ave. Michael Sinensky, Sean McGarr 100 Small Bar and restaurant Rewards staff for top performance with Disney World trips, 3 www.pourhousenyc.com New York, NY 10003 Co-managing members 70 2 spa days and parties Metis Group 14 Penn Plaza Glenn Friedman 74 Small Accounting and Offers flextime to satisfy both the early birds and the night 4 www.metisgroupllc.com New York, NY 10122 Managing partner 64 3 consulting owls on the staff Marcum & Kliegman 655 Third Ave. Jeffrey M. Weiner 500 Large Accounting and A Happiness Committee rewards workers with gifts, 5 www.mkllp.com New York, NY 10017 Managing partner 200 2 consulting particularly during busy times Microsoft Corp. 1290 Sixth Ave. Laura Wallace 91,000 Large Software and Matches $17 per hour that employees volunteer at eligible 6 www.microsoft.com New York, NY 10104 General manager, NY metro district 1,200 3 services charities Kimpton Hotels & Restaurants 60 E. 42nd St. Patrick Athy 6,500 Large Boutique hotels Employees volunteer time for charities and causes 7 www.kimptonhotels.com New York, NY 10165 Regional director of people/culture 271 4 Michael Page U.S. 405 Lexington Ave. Alexis de Bretteville 350 Midsize Executive Has a "work hard, play hard" environment, with trips to 8 www.michaelpage.us.com New York, NY 10174 Chief executive, the Americas 150 1 recruitment places including Rio de Janeiro Citrin Cooperman & Co. 529 Fifth Ave. Niles Citrin, Joel Cooperman 330 Midsize Accounting and Offers sabbaticals; participating staffers then comment on 9 www.citrincooperman.com New York, NY 10017 Co-managing partners 210 2 consulting their career plans and offer advice to the firm Loews Regency Hotel 540 Park Ave. Stuart Schwartz 320 Midsize Hotels Managers reward employees with points toward gift 10 www.loewshotels.com New York, NY 10065 Managing director 320 3 certificates New York Cares 214 W. 29th St. Anne Corry, Gary Bagley 57 Small Volunteer Offers staff off-site professional development opportunities 11 www.nycares.org New York, NY 10001 Associate executive directors 57 4 management Iris 632 Broadway Matt McRoberts 550 Large Marketing Smile Squad, Night Squad and Green Team volunteer to try 12 www.irisnation.com/newyork New York, NY 10012 Managing director 55 5 to make work more rewarding Friedman 1700 Broadway Bruce A. Madnick 292 Midsize Accounting, tax, Closes offices on summer Fridays in exchange for extended 13 www.friedmanllp.com New York, NY 10019 Managing partner 177 4 consulting workdays Monday through Thursday Prestone Printing Co. 47-50 30th St. Robert J. Adler 103 Small Commercial Encourages employees to take outside classes; promotes from 14 www.prestoneprinting.com Long Island City, NY 11101 Chief executive 103 5 printing within Deutsch Inc. 111 Eighth Ave. Val DiFebo 969 Large Marketing Involves all employees in training; offers goal-based 15 www.deutschinc.com New York, NY 10011 President 532 6 communications performance initiative Shawmut Design and Construction 3 E. 54th St. Les Hiscoe 875 Large General contractor Offers employer-paid insurance, tuition reimbursement and 16 www.shawmut.com New York, NY 10022 Vice president 90 7 employee stock ownership plan Bingham McCutchen 399 Park Ave. Robert M. Dombroff 2,100 Large Law Pro bono program helps 400 elementary school students in 17 www.bingham.com New York, NY 10022 Managing partner 210 8 Harlem SeamlessWeb Professional Solutions 232 Madison Ave. Jason R. Finger 125 Small Online food Annual employee awards celebrate teamwork, innovation, 18 www.seamlessweb.com New York, NY 10016 President 100 6 ordering leadership and more Goldman Sachs Group Inc. 85 Broad St. Lloyd C. Blankfein 27,425 Large Investment Culture of volunteerism this year aided 780 nonprofits 19 www.goldmansachs.com New York, NY 10004 Chairman 8,771 9 banking The Concept Farm 43 W. 24th St. Seven partners 1 50 Small Advertising Workers spend 20% of their time on Passion Projects to 20 www.conceptfarm.com New York, NY 10010 50 7 nurture mind, body and soul Silverstein Properties Inc. 250 Greenwich St. Larry A. Silverstein 178 Midsize Real estate Employees participate in the future planning for the 21 www.silversteinproperties.com New York, NY 10007 Chief executive 178 5 development company RiskMetrics Group 1 Chase Manhattan Plaza Ethan Berman 1,106 Large Financial services Holds Fun Days for employee teams; the team deemed to 22 www.riskmetrics.com New York, NY 10005 Chief executive 155 10 have the most fun gets money to spend on all offices SBLI USA Mutual Life Insurance Co. 460 W. 34th St. Vikki L. Pryor 221 Midsize Financial services Has a management development program that combines 23 www.sbliusa.com New York, NY 10001 Chief executive 78 6 expanded job assignments, coaching, mentoring and training Sheppard Mullin Richter & Hampton 30 Rockefeller Plaza Ted Max 1,152 Large Law Covers 100% of health care premiums, makes retirement 24 www.sheppardmullin.com New York, NY 10112 NY managing partner 76 11 contributions equaling 6% of pay and offers profit sharing Services for the UnderServed Inc. 305 Seventh Ave. Donna Colonna 1,300 Large Human services Employees and clients develop business practices, linking 25 www.susinc.org New York, NY 10001 Chief executive 1,300 12 mission to ethical workplace behavior RAND Engineering & Architecture 159 W. 25th St. Stephen A. Varone 72 Small Engineering and Pays employees to bring back vacation souvenirs for the 26 www.randpc.com New York, NY 10001 President 72 8 architecture firm’s rec room wall Andrews Kurth 450 Lexington Ave. Lynne M. Fischman Uniman 870 Large Law Offers backup child and elder care and healthy snacks, 27 www.andrewskurth.com New York, NY 10017 NY managing partner 56 13 among other benefits Visiting Nurse Service of New York 1250 Broadway Carol Raphael 4,200 Large Home health care Tech strategies developed by VNSNY clinicians aid patient 28 www.vnsny.org New York, NY 10001 Chief executive 4,200 14 care and validate staff’s input Undertone Networks 270 Madison Ave. Michael Cassidy 87 Small Online advertising Biannual Company Weeks include training, team-building, 29 www.undertone-inc.com New York, NY 10016 Chief executive 65 9 network social and volunteer activities Ted Moudis Associates 79 Madison Ave. Ted Moudis 120 Small Architecture Open, flexible and sustainable office settings are inviting and 30 www.tedmoudis.com New York, NY 10016 Senior principal 105 10 encourage collaboration Berdon 360 Madison Ave. Stanley H. Freundlich 427 Midsize CPA and advisory Provides training that includes communication, business 31 www.berdonllp.com New York, NY 10017 Managing partner 286 7 development, dress and public speaking YAI/ National Institute for People with Disabilities 2 460 W. 34th St. Philip H. Levy 2,633 Large Services for the Work/life balance support includes dollar-stretching 32 www.yai.org New York, NY 10001 President 1,827 15 disabled discounts, emergency grants and personal workshops Logicworks 155 Sixth Ave. Carter Burden 56 Small Enterprise IT Each year, Logicworks’ chief executive buys staff a high-tech 33 www.logicworks.com New York, NY 10013 Founder, chief executive 56 11 hosting gift such as an iPod touch, Xbox 360 or PSP Sam Schwartz Engineering 611 Broadway Samuel I. Schwartz 60 Small Traffic engineering Offers four-day, 40-hour work weeks 34 www.samschwartz.com New York, NY 10012 Chief executive 60 12 Hunton & Williams 200 Park Ave. Jeff Jones 2,340 Large Law Staff facing medical emergencies can receive leave donated 35 www.hunton.com New York, NY 10166 Partner 176 16 by colleagues

18 | Crain’s New York Business | November 17, 2008 CNYB 11-17-08 A 19 11/12/2008 8:15 PM Page 1

IN-DEPTH REPORT

Company Firmwide/ size/ NYC rank within Rank Company New York City office Top New York executive employees size Type of business Innovative workplace policy Studley Inc. 300 Park Ave. Mitchell S. Steir 485 Midsize Commercial real Annual companywide outing promotes networking and 36 www.studley.com New York, NY 10022 Chairman 137 8 estate business development across offices Anvil NY 11-17 Beach St. Marc Murphy 375 Midsize Restaurant group Contributes toward health insurance and education, and 37 www.anvilny.com New York, NY 10013 Chef, owner 375 9 offers Spanish classes Chelsea Piers Sports & Entertainment Complex 23rd St. and Hudson River Roland W. Betts 327 Midsize Sports and Offers free or discounted access to its athletic facilities, and 38 www.chelseapiers.com New York, NY 10011 Chairman 327 10 entertainment summer camp for workers’ children Cushman & Wakefield 51 W. 52nd St. Bruce Mosler 15,000 Large Commercial real Encourages workers to participate in sporting events to raise 39 www.cushwake.com New York, NY 10019 Chief executive 710 17 estate money for charity Beyer Blinder Belle Architects & Planners 41 E. 11th St. Frederick Bland 170 Midsize Architecture and Involves all levels of staff in strategic planning; shares 40 www.beyerblinderbelle.com New York, NY 10003 Managing partner 135 11 planning marketing wins/losses and quarterly financial results ID Media 100 W. 33rd St. Lynn Fantom 150 Midsize Advertising Offers access to top management through employee 41 www.idmediaww.com New York, NY 10001 Chairman 90 12 breakfasts, online Q&A and Friday happy hours Pryor Cashman 410 Park Ave. Ronald H. Shechtman 227 Midsize Law Green initiative is reducing electricity use, promoting natural 42 www.pryorcashman.com New York, NY 10022 Managing partner 224 12 cleaning products and monitoring refuse removal Booz & Co. 101 Park Ave. David Knott 3,000 Large Management Employee assistance program provides nutrition help, grad 43 www.booz.com New York, NY 10178 NY managing director 230 18 consulting school research and books on childbirth HOK 620 Sixth Ave. NY Management Committee 3 2,500 Large Architecture and Allows employees to work in other offices, see other projects 44 www.hok.com New York, NY 10011 190 19 interior design and experience different cities Studio Daniel Libeskind 2 Rector St. Daniel Libeskind 120 Small Architecture Flies the entire studio to grand openings; holds monthly 45 www.daniel-libeskind.com New York, NY 10006 Owner 75 13 interoffice get-togethers Donnelly Mechanical Corp. 96-59 222nd St. Dan and Cathy Donnelly 120 Small HVAC contractor Offers full health coverage, pension, profit sharing and 46 www.donnellymech.com Queens Village, NY 11429 Co-owners 120 14 flextime; holds companywide events Weiser 135 W. 50th St. Douglas A. Phillips 640 Large Accounting Offers career development and wellness programs, a women’s 47 www.weiserllp.com New York, NY 10020 Managing partner 380 20 network, a book club and sports teams Alston + Bird 90 Park Ave. Richard Levinson 2,084 Large Law Staff can donate time off to employees facing a family 48 www.alston.com New York, NY 10016 Chief financial officer 212 21 member’s catastrophic illness Amper Politziner & Mattia 6 E. 43rd St. Steve Mayer 665 Large Professional Each year, employees can take their spouse or a friend to 49 www.amper.com New York, NY 10017 Partner in charge 100 22 services dinner or a show on the firm, with no spending limit The Execu|Search Group Inc. 675 Third Ave. Glenn Bernstein 93 Small Recruitment and Tenured staff can work a flexible schedule combining 50 www.execu-search.com New York, NY 10017 President, temporary division 87 15 temporary staffing in-office and work-at-home hours To find New York City’s best places to work, Crain’s New York Business partnered with Quantum Market Research to conduct surveys of employees in nominated companies. Companies with 50 or more employees in New York City were eligible to participate in the survey. More than 300 companies participated in the process, and 25,399 employees were surveyed. The 50 companies ranked highest, based solely on their employees’ responses to a 38-question survey, are included on the list of the Best Places to Work. In case of ties in rank by size, companies are listed alphabetically under the same ranking number. 1-Partners include William Morrison, Griffin Stenger, Gregg Wasiak, Hank Wasiak, Ray Mendez, Blake Olson, John Gellos. 2-Full name is YAI/National Institute for People with Disabilities Network. 3-Committee includes Kenneth Drucker, Juliette Lam, Chuck Siconolfi, Jim Berge, Chris Korsh, Chris Laul.

ALL OF CRAIN’S BUSINESS LISTS CAN BE PURCHASED AT WWW.CRAINSNEWYORK.COM/LISTS

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That’s why we dedicate signiﬁcant resources to providing our employees with the Ronald Taylor, CPA Director, Recruiting Operations training and support needed to achieve their professional and personal goals. and Diversity 212.891.8054 [email protected] We nourish an atmosphere of excellence and are always on the lookout for To explore a career at Eisner, intelligent, focused and ambitious people who can thrive as accountants go to www.eisnerllp.com and advisors. With our diverse culture, we encourage innovation from our professionals to create path-breaking solutions. Fulﬁllment. It’s our thing.

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November 17, 2008 | Crain’s New York Business | 19 CNYB 11-17-08 A 20 11/12/2008 7:47 PM Page 1

REPORT BEST PLACES TO WORK

LOCKTON COS. TOP FIRMS TLC FROM COO: Timothy Ryan BY SIZE arranged a surprise Clearing clutter party for the firm’s in the rankings and short profiles new receptionist when below, Crain’s took a look through she became a citizen. the lens of size, spotlighting the 10 hones client focus top-ranked firms in each of three categories: I large, 500 or more total employees; I midsize, 150 to “I spend my days dealing di- 499; and I small, 50 to 149. Autonomy frees rectly with my clients instead of Short profiles were written by staffers to do their running from meeting to meet- Shira Boss-Bicak, Catherine ing,” she says. “And I don’t get Curan, Fran Hawthorne, Margaret jobs; revenues rise bogged down in office hierarchy.” Jaworski, Judith Messina and Cara S.Trager. BY MARGARET JAWORSKI Holding on to customers, staff lockton’s light hand is paying LARGE FIRMS lockton has a no-tolerance poli- off.Global revenues were $742 mil- cy when it comes to red tape and lion for the fiscal year ended in bureaucracy. April,up from $667 million in 2007. #1 LOCKTON COS. “We’re serious about making The firm boasts that it has a 95% See profile on this page. sure that our clients are the focal client retention rate and an employ- point of everything we do,and as ex- ee turnover rate of less than 10%. ecutives,we do our best to make sure Of course, a firm dedicated to #2 MARCUM & KLIEGMAN that the company doesn’t BUSINESS helping other businesses get in the way,” says John manage their insurance WHEN IT COMES to arranging work Insurance hours, this Long Island-based account- Lumelleau, a New York- can’t afford to skimp on er who is now chief exec- brokerage benefits for its own staff. ing firm is as flexible as a Gumby Doll. gibbons catherine Employees can pretty much design their utive of the Kansas City, TOTAL/NYC The company pays own schedules—some take the whole Mo.-based insurance EMPLOYEES much of the cost of health, And, despite the difficult eco- would need time off for a special summer off—yet retain benefits, albeit brokerage. 3,800/51 life, travel and accident nomic times, Lockton believes it’s occasion: her swearing-in as a U.S. Lockton’s flat corpo- insurance for staffers, and equally important to celebrate suc- citizen. When she returned to the on a prorated basis. RANK WITHIN Happiness commit- rate structure means that it gives each employee a cess.Timothy Ryan,chief operating office after the ceremony, the staff BUSINESS LARGE COS. Public tees organize crazy- staffers are given more 1 Rolex watch when he or officer in New York City,holds piz- surprised her with a luncheon in accounting shirt days, ice cream responsibility than most, OVERALL she has been with Lockton za nights and other impromptu her honor. TOTAL/NYC sundae afternoons as well as greater autono- RANK 1 for 10 years. Employees events,including a surprise party for “It was only my first month at EMPLOYEES and free shoe shines. my and authority. It’s a are encouraged to take ad- Ana Romero, the new receptionist. the office,” says Ms. Romero. “I 500/200 M&K isn’t a play- culture that Susan Johnson, vice vantage of tuition reimbursement worked at other companies where ground, though. With president for the property practice for industry-related education and Watching out for everybody people didn’t always treat me with all the workplace independence, staff in Lockton’s Manhattan office, in-house professional develop- the week she joined Lockton, respect,but here,everyone is treat- members must be self-disciplined. A embraces. ment programs. Ms.Romero told Mr.Ryan that she ed the same.” major part of their job is troubleshooting and devising solutions for clients. “Employees here take on a lot of responsibility,” says Managing Partner Jeffrey M. Wiener. ALISON BROD PUBLIC RELATIONS phone to pitch an editor or get on BY MARGARET JAWORSKI the floor to wrap packages,” says Jodi Simms Hassan, a principal. MICROSOFT CORP. soon after Courtney Routt For those who follow the gold- #3 Trust in employees joined Alison Brod Public Rela- en rules that govern Ms. Brod’s See Page 24 tions, the small PR firm gave the pink-and-white offices, benefits account executive the leeway to and perks include medical savings cuts red tape woo celebrity agents and publi- accounts, flexible spending ac- #4 KIMPTON HOTELS & cists. Ms. Routt was able to grow counts for elder and dependent RESTAURANTS the agency’s celebrity division and care, and vision and dental plans. FOR FIVE YEARS running, San Francisco- Quick route to fast track; perks are sweet create a new job for herself: celeb- While the basic benefits are not based Kimpton has earned 100% on the rity/VIP relations manager. shabby, it’s the industry-specific Human Rights Campaign Corporate perks that are oh so sweet. Along Equality Index, a measure of a firm’s No rules with edible goodies—candy from treatment of customers and lesbian, gay, “there was no red tape or set of Dylan’s Candy Bar,Godiva choco- bisexual and transgender employees. rules to follow,” Ms. Routt says. lates and breakfast treats for those “We want our employ- Such trust in employees ranks early-morning brainstorming ses- BUSINESS ees to feel appreciated high on the list of core values at the sions—there are truly enviable Hospitality and valued,” says firm,which handles high- ones bestowed by Alison TOTAL/NYC Patrick Athy, whose profile beauty, fashion and BUSINESS Brod PR’s impressive EMPLOYEES unique title, regional celebrity clients. When Public roster of clients. 6,500/271 director of people and Alison Brod founded the relations culture for the North- Discounts galore east, reflects the Kimpton ethic. The com- company 13 years ago,she TOTAL/NYC pany offers generous perks, such as paid aimed to create a work- EMPLOYEES clothing and acces- sabbaticals for general managers and place with a culture dif- 50 sories clients offer their executive chefs. The largesse extends to ferent from the tough en- wares at wholesale prices, hourly workers, who are eligible for health vironment atplaceswhere RANK WITHIN usually 40% to 70% off coverage. Revenues at Kimpton’s New she’d been employed. SMALL COS. 1 retail. There are dis- York City properties are forecast at $45 “We make it a point to OVERALL counts at hair salons,gym million this year. acknowledge and thank RANK memberships and deliv- employees for their con- 2 eries from Nu-Kitchen. ALISON BROD says her tributions,”she says.“We The office is stocked with #5 IRIS PR firm’s mission is to also work to help people discover products from Estée Lauder, El- LONDON-BASED “help people discover what they are good at and then give emis, Matrix, Stila, Laura Merci- marketing firm Iris actu- what they’re good at.” ally listens to its employees. Every year, them ownership of their niche.” er, Philosophy and other beauty the $150 million company surveys its Part of the egalitarian ethos is clients, all free for the taking. global workforce for their ideas, a prac- that all staffers pitch in to do the “We’ve never had anyone abuse tice that has resulted in the establish- less glamorous tasks. the privilege,” says Aliza Bogner, ment of a “Smile Squad,” which organiz- “Everyone, including senior director of finance and human staff,has to be willing to get on the services. es Taco Tuesdays; a “night squad,” which buck ennis See LARGE FIRMS on Page 22

20 | Crain’s New York Business | November 17, 2008 Project6 10/8/08 10:24 AM Page 1

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REPORT BEST PLACES TO WORK

LARGE FIRMS MICHAEL PAGE U.S.

plans after-hours celebrations; and a “green team,” which spurred the New Building careers York office to shut down computers at night. And staffers A CURE FOR BUSINESS hankering for a change Marketing WHAT ALES: of scenery can get Sean McGarr in industry of jobs TOTAL/NYC transfers for up to two says workers’ EMPLOYEES years to one of Iris’ 11 jobs are secure, 550/55 offices worldwide. despite the entry-level consultants. Starting economy. Public company’s salaries around $45,000 can dou- salaries stand out in ble within two years. #6 DEUTSCH INC. commission-based “By taking the commission WALLS AT DEUTSCH’S New York head- piece out of the picture, a more quarters are either nonexistent or made of search business consultative, professional and un- glass, a design element that’s emblematic biased approach is given to our of the idea of keeping lines of communi- searches,” says Frank Heller, a cation open. The 39-year-old bicoastal BY TINA TRASTER client and senior director of talent firm also helps break down barriers to a acquisition at Revlon. collegial work environ- in the recruitment business, BUSINESS ment by inviting all fledgling professionals usually Staffers compete Marketing staff members to new- work on commissions in a cut- the firmstill creates a competitive TOTAL/NYC business meetings. throat environment. environment among its employees. EMPLOYEES Junior-level employees Not so at Michael Page U.S. Based on benchmarks, including 969/532 mingle with managers The firm retains ambitious rook- sales achievements and success in to learn about different ies with opportunities for ad- servicing clients, teams of re- specialties. “Ideas can come from any- buck ennis vancement, a reasonable starting cruiters vie quarterly for one- to where, and one of the reasons people salary and incentive trips. two-day, expense-paid getaways, love working at Deutsch is that we really “We want people to come here with Saratoga Racetrack and At- take that to heart,” says Valerie DiFebo, VILLAGE POURHOUSE president of the New York office. for a career, not for a job,” says lantic City among the recent des- Richard Vickers, man- tinations.Top recruiters aging director of the BUSINESS also compete for an an- Raising a glass company’s 10-year-old Recruiter nual three-day trip. #7 SHAWMUT DESIGN Manhattan office, Emma Sacknoff, a AND CONSTRUCTION which recruits for a wide TOTAL/NYC 24-year-old manager AT SHAWMUT DESIGN and Construction, to happy workers range of businesses, in- EMPLOYEES who oversees a five-per- a 100% employee-owned general con- cluding finance, ac- 350/150 son team, joined the tractor, helping workers reach goals and counting, law, sales, RANK WITHIN New York office 16 resolving any workplace difficulties are Employees take “Anything I’ve proposed to the marketing and engi- MIDSIZE COS. months ago. Diligence considered vital. Managers mentor sub- owners,they say,‘Try it,’”says Ms. neering. Michael Page 1 led to a quick promotion ordinates on ways to improve perform- stakes in growing Decoons. U.S., which has eight after six months—and ance, and everyone More recently, Mr. McGarr offices, is a division of a OVERALL to a thrilling night out BUSINESS must take 16 hours a sports bar brand offered employees stakes in the public company based RANK 8 on the town. General year in free courses. contracting “The whole culture at newest Village Pourhouse at 982 in London. Ms. Sacknoff and BY CATHERINE CURAN Amsterdam Ave., at the same her team were treated to dinner at TOTAL/NYC Shawmut is to usher Inside jobs EMPLOYEES you into success,” says price that his shares cost him. the swanky ‘21’ Club and a heli- 875/90 Zovia Neeley, a project to succeed in a job interview Four became partners. the firm’s strategy for career- copter ride around Manhattan. manager. The $900 with Village Pourhouse co- building involves promoting from “Everyone really strives to win million Boston-based firm, which in New founder Sean McGarr, applicants A reason to try within.About 15 of the New York these trips,”she says.“It’s not every York specializes in building stores for top first need to smile. “the biggest incentive is, you office’s senior managers began as day I get to eat at the ‘21’ Club.” brands, also emphasizes respect and tol- Equal parts father figure, fun- work hard,and Village Pourhouse erance at staff lunch-and-learn discus- loving uncle and savvy entrepre- will someday be across the mid- sions and in diversity networking groups. neur, Mr. McGarr hires staff who Atlantic states,”says Mr.McGarr. will enjoy touting his network of One of the company’s other rowdy,inexpensive sports bars.Pa- big perks: an annual trip to Dis- #8 BINGHAM MCCUTCHEN trons at the flagship lo- ney World. In Epcot’s cation can down $2 Bud- international pavilions, IN THE DOG-EAT-DOG WORLD of New York BUSINESS law firms, Bingham McCutchen stands weisers while watching Sports bars Village Pourhouse em- pro ball on 22 flat-screen ployees sample different out for its positive, people-centered cul- TOTAL/NYC ture. The firm’s benefits include emer- TVs, play Rock Band or beers with Messrs. gency child care, flexible schedules and scarf down wings in eat- EMPLOYEES McGarr and Sinensky. pet insurance, and such thoughtful extras ing contests. 100/70 The Epcot visits in- as gift cards on birthdays and on-site “These guys are RANK WITHIN spired the sports bar to yoga sessions. Associ- very open,” says Rob SMALL COS. launch a passport pro- BUSINESS ates looking for a Schwartz, a sales rep for gram for patrons who Law departure from the Southern Wine & Spir- 2 sample international TOTAL/NYC daily intensity can its. “I hate to say it’s like OVERALL beers, just one of many EMPLOYEES apply for a yearlong fel- Cheers, but it is.” RANK 3 creative promotions that 2,100/210 lowship to do pro bono set the Village Pourhouse work; they stay on a Beyond NYC apart from the city’s 11,000 other partnership track. “We’ve had lawyers mr. mcgarr—who co-founded watering holes. With roughly $3 who have come from firms where disre- Village Pourhouse with Michael million in annual revenues, the spect was part of the culture, and we Sinensky in 2006—inspires loyal- flagship bar—located in the East send them to professional training,” says Managing Partner Robert Dombroff. ty among his staff by providing Village, at Third Avenue and 11th real growth opportunities with a Street—is nearing profitability. growing brand, which they hope After the economy nose-dived, to replicate outside New York. Mr. McGarr assured employees #9 GOLDMAN SACHS For example,event planner Cari that their jobs were secure, asking RICHARD VICKERS GROUP INC. says Michael Page Decoons,who started solo in 2006, them to redouble customer serv- U.S. wants people to GOLDMAN SACHS has a storied tradition now spearheads a diverse lineup ice efforts in return. The annual come for a career. that elevates teamwork to an art—a feat of 10 firmwide monthly events staff trip,which he considers to be The firm’s strategy is in a business where hard-charging over- along with several colleagues.Her a critical reward, will continue. to promote from achievers are the norm. An intense offbeat successes include an up- “I’ve always had a love affair within.

focus on meeting client needs and the scale “beer ball” held last fall. with my employees,” he says. gibbons catheriine See LARGE FIRMS on Page 24

22 | Crain’s New York Business | November 17, 2008 Project4 10/10/08 9:10 AM Page 1

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REPORT BEST PLACES TO WORK

LARGE FIRMS MICROSOFT CORP.

unremitting demands on staff—80-hour weeks, punishing travel schedules— Perfect passion boost the group ethos. Emphasizing volunteerism helps, too. “At the top of the list is having an opportunity to make a defines a giant BUSINESS Investment contribution to com- banking munity,” says Edith TOTAL/NYC Cooper, global head Cutting-edge technology businesses. EMPLOYEES of human capital Microsoft’s aim is “to be cut- 27,425/ management. Gold- in business, as well ting-edge in their business and in 8,771 man has been known as human resources the way that they handle employ- for extravagant pay. ees,” Mr. Miller says. That high-risk, high-reward culture may not endure the financial crisis, but the BY STAN LUXENBERG Blue-chip assignments WARM PLACE: “We one-for-all, all-for-one attitude just might. want to attract with a roster of blue-chip employees with many technology firms offer clients—the likes of Goldman heart—not just great perks and challenging work, Sachs, the National Football brains,” says Laura #10 RISKMETRICS GROUP but Microsoft stands out.The firm League and Estée Lauder—techies Wallace, Microsoft’s AT RISKMETRICS, employees toil togeth- whose operating system is embed- in the New York office of the Red- general manager, of the New York area. er on a big, open floor, the better to fos- ded in computers world- mond, Wash.-headquar- ter teamwork and communication, two wide provides such bene- BUSINESS tered company get blissful of its core values. The others: respect, fits as help finding care for Technology assignments. ownership—and having fun. At RiskMet- children or a sick parent. TOTAL/NYC Their recent projects

rics, which helps com- larry ford It also offers an envi- EMPLOYEES include helping custom- BUSINESS panies evaluate ronment that nurtures its ers install communica- Risk investment risk, every workers’ enthusiasm for 91,000/ tions systems that show, pears, the Microsoft people on our office all the time,” says Donna analysis, staff member gets a devising innovative solu- 1,200 on a computer screen or account focus on the task 24 hours Abrusci, operations manager for governance share of the business. tions for customers, ac- RANK WITHIN mobile device, whether a day,”says Phil Alberta, vice pres- the New York area.“You can take a services “We want people to cording to Laura Wallace, LARGE COS. an employee is online, ident of information technology at few hours to watch a child’s game.” TOTAL/NYC 3 think and act like general manager of Mi- available to take a phone Tiffany & Co. Employees of the $60.4 billion EMPLOYEES owners,” says Chief OVERALL 1,106/155 crosoft’s New York area. call or busy.In addition,a company receive a package that in- Executive Ethan RANK 6 Balancing act Berman, who a few The numbers tell the worker can make a phone cludes complete health coverage— years ago made headlines when he story: The giant’s annual call over the Internet, or they also get help in achieving they don’t even have co-payments. asked his board to keep his own salary turnover is 8.5%,versus 15% at oth- start a conference or video call, balance in their lives. Microsoft They also get up to five paid days a flat and reduce his bonus. On the lighter er top technology businesses, ac- with a single click. gives employees freedom with year to do volunteer work. side, winners of the firm’s annual Fun cording to Charles Miller, presi- Always reaching for perfection flextime options and the ability to “We want to attract employees Day get to choose goodies, such as a dent of ITaccel, a Manhattan keeps employees passionate about work from home or on the road. with heart—not just brains,” Ms. Wii video console, for use at all offices recruiting firm that specializes in their work. “When a problem ap- “People don’t need to be in the Wallace says. in their region.

MIDSIZE FIRMS LOEWS REGENCY HOTEL thing from giving kids rides on BY STAN LUXENBERG luggage carts to chatting with customers. #1 MICHAEL PAGE U.S. attracting hotel staff isn’t Icy May Thomas, a 21-year See Page 22 Breaking out of difficult. Retaining them is an- employee and housekeeping floor other task altogether. supervisor overseeing the work of The Loews Regency Hotel has 10 room attendants, has been on #2 CITRIN turnover territory held on to half of its 320 workers friendly terms with George COOPERMAN & CO. for at least a decade and to 25% of Steinbrenner, a regular guest, for them for two decades—quite a years. CITRIN COOPERMAN & CO. takes the Service ethic combined with on-the-job fun record in an industry known for On one occasion, the owner of sting out of the accounting profession’s high turnover. the New York Yankees passed sev- grueling tax season. The $75 million Loews Hotels Chief Executive eral workers trying to move a cre- accounting and consulting firm reim- Jonathan Tisch “is famous in the denza down the hall. When Ms. burses 25% of the industry for paying attention to Thomas jokingly suggested that BUSINESS cost of new business his staff,” says Bjorn Mr. Steinbrenner help Accounting, clothing, or up to consulting $500, for workers Hanson, associate pro- BUSINESS them, he did. TOTAL/NYC fessor at New York Uni- who survive tax sea- Hospitality Mission-critical EMPLOYEES son. And after six versity’s Tisch Center for 330/210 Hospitality,Tourism and NYC new staffers undergo years, employees can EMPLOYEES get over the stress of Sports Management. a monthlong training tax season with a four-week sabbatical. “We believe that em- 320 that covers, among other On return, they submit two 1,000-word ployees must be treated RANK WITHIN things, helping them feel essays, one of which includes sugges- well so that they will pro- MIDSIZE COS. comfortable around tions for improving the company. vide high-quality service 3 guests.They learn how to to guests,” says Alan Mo- perform guest services, meyer, vice president of OVERALL from making a restaurant #3 LOEWS REGENCY HOTEL human resources for RANK 10 or gallery recommenda- See profile on this page Loews Corp. tion to fulfilling requests for toiletries or appliances. Morale boosters “Employees take pride in their FRIEDMAN the regency,the only Manhattan jobs,” says General Manager Stu- #4 property in the 18-member group, art Schwartz. “They understand EMPLOYEES AT FRIEDMAN, an account- is unionized and follows those that they are critical to the success ing and consulting HAPPY FAMILY: guidelines for wages, which start at of our business.” BUSINESS firm, have a strong Loews workers $15 an hour. Benefits are typical of Workers get to be on the re- Accounting, stake in their compa- understand that tax and they’re critical to the the industry, but the Regency ceiving end of that service culture consulting ny’s success. The firm hotel’s success, says stands out for its morale-boosting by taking advantage of a special gives staff members TOTAL/NYC General Manager efforts, which include encouraging staff-member rate of $50 a night EMPLOYEES 10% of the fees from Stuart Schwartz. workers to enjoy their jobs. at any Loews hotel. The Miami any new client they 292/177 larry ford That can translate into every- property is an employee favorite. See MIDSIZE, Page 26

24 | Crain’s New York Business | November 17, 2008 Project8 11/5/08 2:27 PM Page 1

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REPORT BEST PLACES TO WORK

MIDSIZE FIRMS SILVERSTEIN PROPERTIES INC. bring in for as long as they’re Friedman employees, and they pocket a $10,000 Developer creates bonus for recruiting a new worker. Other rewards at the 84-year-old, $60 million firm include Fridays off in the summer, as well as Saturday breakfasts during tax tower of strength season and a day off and a party after April 15. nancial rewards.Silverstein Prop- WTC rebuilding erties awards bonuses that are #5 SILVERSTEIN allows the team to above the industry average and PROPERTIES INC. pays nearly all the premiums for See profile on this page play a role in history health and life insurance for every employee. When staffers face se- BY CATHERINE CURAN rious illnesses, Mr. Silverstein, a #6 SBLI USA MUTUAL LIFE trustee of New York University INSURANCE CO. working for Larry Silverstein Medical Center, helps them get means enjoying daily access—and top-notch care. THE EMPLOYEES of SBLI USA Mutual Life unlimited bragging rights—to a Insurance mirror the diversity of the $170 DAVID JONES of stunning 360-degree view of In for the long term million company’s Prestone says Manhattan and its surroundings. “he’s a mensch,”says Faith Hope BUSINESS target market. They employees are part of something they Lofty visions of the future are Consolo, chairman of retail sales Life speak 20 languages, equally important inside the firm’s and leasing for Prudential Doug- insurance can be proud of. and two-thirds are headquarters at 7 World Trade las Elliman. TOTAL/NYC minorities. The Center, where the developer Mr. Silverstein’s excitement EMPLOYEES company recruits its 231/78 staff from the labors to carry out his conception spikes as he points out employees communities it of a rebuilt WTC site. who have been with him for serves—minorities, women and the “Working on the site decades, such as Debra working class—and provides generous means being a part of his- BUSINESS Hudnell. Now vice training opportunities. Options include a tory,” says Gianna Fred- Commercial president of human re- fast-track management training program, erique, a marketing and real estate sources, Ms. Hudnell

tuition reimbursement, continuing- buck ennis communications assistant. management/ joined the company 27 education courses, and industry By winning the 99- development years ago as an entry- certifications. Nine years ago, Sam PRESTONE PRINTING CO. year lease on the Twin level clerk. Anthony was hired as a finance staffer. Towers in 2001—just be- TOTAL/NYC “So many of our Now, he is department director. “Once fore they were attacked— EMPLOYEES people started modestly people ask for an opportunity and think and fighting since Sept. 178 and grew with the com- they can do it, they will eventually be Family firm has 11 to rebuild every inch of RANK WITHIN pany,” Mr. Silverstein given that job,” he says. space he is legally entitled MIDSIZE COS. says. “At this point, I to,Mr.Silverstein has be- 5 look at these people as imprint of loyalty come a major and some- extended family.” #7 BERDON times controversial force OVERALL Often seen as obdu- RANK 21 WHEN LISA KNEE was a young CPA in Manhattan real estate. rate because of his insis- interviewing at Berdon, education Offering higher- joined the $26 million company He owns, manages or has tence on rebuilding benefits topped her list of questions. Not nine years ago. under development some 18 mil- downtown despite the faltering only did Berdon partners Stuart Kotler than-average pay, Prestone’s starting wage is lion square feet of real estate. real estate market, the magnate and Mark Bosswick $8.50 an hour—19% higher than remains relentlessly enthusiastic BUSINESS provide this perk—they valuable advice to the minimum wage of $7.15. In Next generation about his company’s prospects, Public coached her while she addition, about a tenth of its the 77-year-old tycoon and the future of lower Manhattan, accounting earned a law degree. blue-collar workers workers advance to yearly salaries his children Lisa and Roger work and the viability of three more and tax Fourteen years after of $50,000 in as little as four together at the firm,which Mr.Sil- towers at Ground Zero. advising joining, Ms. Knee now BY LAURA KOSS-FEDER years—and after a decade, some verstein runs like a family business. “His passion and drive rub off TOTAL/NYC works as a partner in employees make more than He earns good will by offering on everyone,” says Roger Silver- EMPLOYEES the tax group. A 427/286 over the years, Prestone Print- $100,000 annually. About 40% of simple perks, including half days stein,a senior vice president.“And mother of three, she ing has helped employees obtain the company’s employees have on summer Fridays and hefty fi- the views aren’t bad, either.” also tapped Berdon’s lawyers to help fight credit card been with the firm since 1999, progressive flextime policies to spend companies and given cash ad- when the business transitioned time with her children. Ms. Knee’s vances to employees in a pinch. from a print broker to exclusively experience typifies Berdon’s willingness Not long ago, it paid $400 for an a printing company. FAMILY FEEL: Larry to invest in talented employees. “This is Silverstein is happy administrative assistant from Ro- the only the place I could have Positive vibe that so many staffers accomplished my goals,” she says. mania to take an English-lan- have grown along guage course. “we want our employees to be with the company. The 55-year-old Long Island successful and happy,and feel like City,Queens,company makes sure they are part of something that #8 STUDLEY INC. that its employees, mainly minori- they can be proud of,” says David WHEN SHE HAS AN IDEA for an ad ties with high-school ed- Jones, human resources campaign, Studley’s Cindy Seidowitz ucations, don’t face their BUSINESS director and brother-in- doesn’t call endless meetings to sell her travails alone, or forever. Commercial law of Robert Adler, the program.“I put a plan together, and they The company offers a printing firm’s president and leave it up to me,” higher starting salary owner. TOTAL/NYC BUSINESS says Ms. Seidowitz, than is typical in its in- Vendor Ken Hagger- Commercial senior vice president dustry, gives workers EMPLOYEES ty, vice president of sales real estate for advertising and 103 services chances to succeed, and for Marquardt Paper Co. event marketing. tailors its benefits to the RANK WITHIN in Manhattan,which has TOTAL/NYC Studley’s needs of its blue-collar been supplying paper to EMPLOYEES entrepreneurial ethic SMALL COS. 5 employees. Prestone for more than 485/137 rewards independence OVERALL two decades, says Pres- and produces unusual A fair hearing RANK 14 success stories, including that of a vice tone’s kindness doesn’t chairwoman who started as a secretary. “if you have a problem just extend to its workers. Perks help build loyalty. An annual trip or personal concern,you can bring “They treat their employees brings all employees together, and it to your boss, and he’ll listen to and vendors fairly, and they have senior managers go on serious you and try to help you,” says earned a lot of loyalty over the

educational jaunts—to such places as pressman Juan Acevedo, 31, who years from all of us,” he says. buck ennis See MIDSIZE FIRMS on Page 27

26 | Crain’s New York Business | November 17, 2008 CNYB 11-17-08 A 27 11/13/2008 6:27 PM Page 1

REPORT BEST PLACES TO WORK FOR REPRINTS, call Ashley Zander at The YGS Group, (717) 399-1900, ext. 125, or e-mail [email protected]

MIDSIZE FIRMS and infrastructure they need. The $6.1 play their tchotchkes in the rec room. In and Chicago, the 18-year-old, BUSINESS Canstruction, a charity that bene- million organization, which mobilizes a more serious vein, the 72-employee $22 million firm supports Architecture, fits a local food bank. Twice a the Great Wall of China—that the firm volunteers for charitable groups, is one company provides on-site architecture employees in charitable activi- design year, employees volunteer with considers essential to personal growth. of the few nonprofits on the Princeton seminars that can count toward profes- ties including sailing in the TOTAL/NYC New York Cares, going to schools Review list of workplaces with the best sional education requirements. Architects Regatta, which sup- EMPLOYEES and parks to clean up and paint entry-level jobs. Help- ports a children’s sailing pro- 120/105 murals. Each December, Moudis #9 ANVIL NY BUSINESS ing staff members gram. It also encourages staffers do a crafts project with Recruiting balance work and UNDERTONE NETWORKS staffers to build tin can sculptures with underprivileged kids. AT ANVIL NY’S three Manhattan restau- volunteers family is also impor- #9 rants—one dishing out seafood and TOTAL/NYC tant to New York ONLINE ADVERTISING packager Under- comfort food, the other two serving EMPLOYEES Cares, which makes tone Networks is just five years old and French cuisine—workers aren’t starved 57 summer Fridays short has only 87 employees, but it offers for benefits. The four-year-old firm’s workdays. “People more benefits than many large employ- offerings go far don’t feel like cogs,” says Technology ers. “It’s one of our biggest costs,” says BUSINESS beyond the industry’s Director Joshua Ehrlich. The attention to Chief Executive Restaurants no-frills norm and employees pays off: New York Cares’ BUSINESS Michael Cassidy. “We TOTAL/NYC include low-cost den- 57 staff members last year mobilized Online just bit the bullet.” EMPLOYEES tal insurance, a one- 43,000 volunteers. advertising Undertone Networks 375 week vacation after a TOTAL/NYC gives employees year, free wine con- EMPLOYEES three to four weeks of noisseurship classes and free annual #5 PRESTONE PRINTING CO. 87/65 vacation, pays 100% flu shots. And there is such a thing as a See Page 26 of premiums for free lunch—for Anvil’s managers. The health, life and disability insurance, and $22 million minichain treats them to gives everyone stock options. Employ- two meals per week, as well as to ees also get a $5,000 bonus for refer- Spanish-language and management #6 SEAMLESSWEB ring potential staff members. If the classes. PROFESSIONAL SOLUTIONS proof is in the pudding, Undertone seems to have the recipe down pat: SEAMLESSWEB Chief Executive Jason This year, it expects to double last Finger says his door is always open. “I year’s revenues of $27 million. #10 CHELSEA PIERS believe in supporting the whole person, SPORTS AND ENTERTAINMENT even if that means taking a late-night COMPLEX phone call to help an employee deal with a personal prob- #10 TED MOUDIS TAKING CUES from employee focus lem,” he says. Mr. Fin- ASSOCIATES groups, Chelsea Piers aids its workers— BUSINESS ger may have to whether they’re fitness fanatics, parents Online food TED MOUDIS ASSOCIATES inspires its ordering increase his cell of tots or advocates of eco-conscious- employees to change lives for the bet- phone minutes. In the ness. The 13-year-old TOTAL/NYC ter. With staff members in Manhattan EMPLOYEES past 12 months, the West Side company BUSINESS 125/100 company that pio- Leisure has gone green with neered online food activities wind-powered elec- ordering has doubled its workforce, to facility tricity. Workers use 125 people from 54. Support at TOTAL/NYC everything from its SeamlessWeb, expected to have $30 EMPLOYEES: ice-skating rink to its million in revenue in 2008, means more 327 health club—for free than providing a shoulder to lean on. or at heavily discount- Mr. Finger trains staff in sales, customer ed rates. To ease the stress of juggling support, conflict resolution and time work and family, employees can take management. their kids to work—and drop them off at Chelsea’s day care center or summer program, also at reduced rates. #7 THE CONCEPT FARM SMALL FIRMS THE CONCEPT FARM builds its team by inspiring employees—referred to as “farmers”—to do their part in making a #1 ALISON BROD difference. Part ad agency, with clients See Page 20 like Bank of New York and Greenpeace, and part production company, with projects like New York BUSINESS neighborhood TV #2 VILLAGE POURHOUSE Advertising series Cool in Your See Page 22 and Code, the nearly 10- production year-old, $20 million TOTAL/NYC company donates #3 METIS GROUP EMPLOYEES farm animals to poor 50 nations in lieu of holi- FUN AND ACCOUNTING may not seem a day gifts for clients. natural pair. But at the 21-year-old Six staffers, moved by the firm’s work Metis Group, employees participate in a for a food bank, showed their empathy range of playful activities, including last year by each eating just one meal a monthly birthday par- day for a week. BUSINESS ties and contests for Accounting the most original flip- TOTAL/NYC flops. They also get EMPLOYEES together for social #8 RAND ENGINEERING 74/64 outings, including the & ARCHITECTURE racetrack, dinners RAND KNOWS ABOUT designing a work- and a family picnic. When it’s time to place that’s conducive to leisure and work, the firm, which has offices in learning. The 21-year-old, $7.5 million Manhattan, New Jersey, Massachusetts Manhattan firm has a and Florida, offers flexible schedules BUSINESS recreation room with a and opportunities for workers to earn Engineering pool table and dart- extra dough, including $100 for sug- and board—as well as a gesting an idea that gets implemented. architecture free on-site gym with TOTAL/NYC personal trainers and EMPLOYEES 72 yoga classes. When NEW YORK CARES employees return from #4 vacations, Rand uses NEW YORK CARES managers make sure their souvenirs to enliven the workplace, employees have the training, resources reimbursing workers up to $50 to dis-

November 17, 2008 | Crain’s New York Business | 27 CNYB 11-17-08 A 28 11/13/2008 8:27 PM Page 1

THE WEEKS AHEAD

THIS WEEK’S EVENTS [email protected]. 34th St. Fee: $70 individual ticket, $700 need to know about law, accounting and NOVEMBER 19 NOVEMBER 18 NOVEMBER 18 table of 10. (212) 210-0257 or insurance. 10:15 a.m. to 1 p.m., Science, Forty Plus of New York holds workshop New York Public Library holds Networking for Professionals holds [email protected]. Industry and Business on career strategy. 2 p.m. to 3:30 p.m., information session on export research. business lunch networking reception. NOVEMBER 19 Library, 188 Madison Ave., lower 470 Seventh Ave., suite 403. Free. 6:15 p.m. to 7:30 p.m., Science, Industry 1 p.m. to 3 p.m., Dean’s Pizzeria and New York American Marketing level. Fee: $45 in advance; $55 at the Preregistration required. (212) 947-4230 and Business Library, 188 Madison Restaurant, 801 Second Ave. Fee: Association holds program on door. (212) 264-4507 or or [email protected]. Ave., lower level. Free. (212) 592-7000. $27.90 members, $37.90 nonmembers. marketing insights for 2009. 6 p.m. to [email protected]. NOVEMBER 20 NOVEMBER 18 (212) 227-6556. 8 p.m., 116 E. 27th St., sixth floor. Fee: NOVEMBER 19 Business Technology Partners and New York Human Resources Planning NOVEMBER 18 $35 members, $55 nonmembers. State Bank of Long Island holds Microsoft hold breakfast on breaking Society holds program on career Berdon holds seminar on retiring in the (212) 687-3280, ext. 222, or seminar on ethical issues in trusts and down communication barriers. 8:30 a.m. customization. 8 a.m. to 10:30 a.m., current economy. 8 a.m. to 10 a.m., [email protected]. estates practices. 8:30 a.m. to 10:15 a.m., to 11:30 a.m., 1290 Sixth Ave., sixth Deloitte & Touche, 1633 Broadway. Fee: Association of the Bar of the City of NOVEMBER 19 Yale Club, 50 Vanderbilt Ave., Trumbull floor. Free. Preregistration required. Free for members, $50 nonmembers, New York, 42 W. 44th St. Free. By Lower Manhattan Business Solutions room. Free. (516) 495-5102 or (646) 442-4741 or [email protected]. $10 students. (845) 359-8800 or invitation only (invitations may be Center holds commercial leasing [email protected]. NOVEMBER 20 requested). (212) 699-8873. workshop. 6 p.m. to 8 p.m., 110 William NOVEMBER 19 Salem Global Internet Marketing holds More meetings online at NOVEMBER 19 St., fourth floor, conference room. Free. Five O’Clock Club holds seminar on business networking breakfast. 8:30 a.m. www.crainsnewyork.com Crain’s New York Business holds its Small (212) 618-8914 or [email protected]. interviewing. 6:30 p.m. to 8:30 p.m., to 10 a.m., Shiboleth, 1 Penn Plaza, Click on “Events” Business Awards Breakfast. 7:30 a.m. to NOVEMBER 19 11 Penn Station, fifth floor. Fee: $50. suite 2527. Fee: $20. Preregistration 9 a.m., Jacob K. Javits center, 655 W. Score NYC holds seminar on what you (914) 788-5482 or [email protected]. required. (212) 993-5828 or [email protected]. NOVEMBER 20 Neighborhood Entrepreneur Law Project and Brooklyn Economic Development Corp. hold small business legal clinic. 6 p.m. to 8 p.m., 175 Remsen St., suite 350, Brooklyn. Free. Preregistration required. (212) 382-6633 or [email protected]. NOVEMBER 20 Gold Place Network holds networking reception. 6 p.m. to 8 p.m., 545 Eighth Ave., suite 18NE. Fee: $10. (212) 465-8080. NOVEMBER 21 Holtz Rubenstein Reminick holds annual not-for-profit fiscal workshop. We go to the ends of the 8:30 a.m. to 12 p.m., Friars Club, 57 E. 55th St. Free. (212) 697-6900 or [email protected]. NOVEMBER 24-30 earth NOVEMBER 25 c for our clients Pace University Small Business Development Center holds workshop on business planning. 5:30 p.m. to 7:30 p.m., 163 William St. Free. Jones Lang LaSalle merged with The Staubach Company (212) 618-6655 or [email protected]. NOVEMBER 26 Brooklyn Chamber of Commerce holds because that’s how they view the world, too. business basics seminar. 1 p.m. to 2:30 p.m., Brooklyn Business Solutions Center, 9 Bond St., fifth floor. Free. Preregistration required. (718) 246-5219, ext. 2021, or [email protected]. DECEMBER 1-7 DECEMBER 2 Milano The New School for Jones Lang LaSalle is known for providing comprehensive real estate services to owners, investors and Management and Urban Policy: Center for New York City Affairs hold forum occupiers around the globe. The Staubach Company made a name for itself by offering strategic solutions on development along the waterfront. to users of office and industrial real estate across the United States. 6 p.m. to 8 p.m., Eugene Lang Building, Wollman Hall, 65 W. 11th St., fifth floor. Free. Preregistration required. Together, we offer the best of both worlds. Think of Jones Lang LaSalle as both a local company with (212) 229-5418 or [email protected]. global capabilities and a global company with true depth in local markets. DECEMBER 3 Sandler Training: Sales Strategy Corp. So no matter where in the world you have real estate needs, Jones Lang LaSalle has expert professionals holds seminar on the first five minutes of the sales call. 9 a.m. to 11 a.m., on the ground — who work as a team to go the extra mile. 1375 Broadway, third floor. Fee: $195. (347) 385-8500. To find out more about how we can serve you in over 700 cities around the world, visit our Web site, DECEMBER 3 Small Business Development Center www.us.joneslanglasalle.com. Then we’d like to talk with you. You’ll discover our world begins in holds workshop on year-end tax your backyard. planning and strategies. 10 a.m. to 1 p.m., Lehman College, 250 Bedford Park Blvd. West, library, room B27C, For more information, contact: Bronx. Free. (718) 960-8697 or [email protected]. Peter G. Riguardi —maia blume +1 212 812 5719 TO LIST YOUR EVENT

Crain’s lists business meetings online and includes them in the print edition on a space-available basis. Events in New York City with admission fees of less than $300 are considered for the print publication. Listings can be submitted only through the Crain’s Web site. To submit a calendar listing, go to www.crainsnewyork.com and click on “Events.” www.us.joneslanglasalle.com Sponsors have a choice of several free or paid listing options. All business events will be posted online within two business days. Crain’s can neither confirm receipt of listings nor say if or when event listings will appear in the print edition.

28 | Crain’s New York Business | November 17, 2008 CNYB 11-17-08 A 29 11/13/2008 6:09 PM Page 1

SMALL BUSINESS

AT A GLANCE TRANSATLANTIC Buttering up a brand-new market FOODS

EMPLOYEES 3 “We want to continue growing on But Transatlantic had an enthu- Prestigious award opens door for specialty other stuff, but we have to go where siastic following among area grocery REVENUES $1.5 million food product, but distribution is a challenge fate has smiled upon us.” stores long before the sofi. FOUNDED 2006 “We know the New York palate,” panding distribution. Next year, Sweet triumph says Rusty Pacheco, a buyer for PRODUCTS Aux BY NADIA ZONIS Transatlantic will introduce a line of garnering the sofi was a particu- Grace’s Marketplace on the Upper Délices des Bois frozen meals, such as pasta with larly rewarding moment because of East Side, which began carrying truffle butters, hierry farges and mushroom sauce. the owners’ personal connection to Aux Délices des Bois a year ago.“For cured finger-food François Baumont al- The partners see Aux Délices des the truffle butter. The recipe was someone from Oregon, California, sausages, most didn’t enter the Bois as the driver of their business, passed down by Mr. Farges’ French Texas or Florida, they need that frozen meals competition at this sum- however. “We want to add $1 mil- grandmother,and Mr.Baumont fig- kind of guidance, where a panel of (expected next mer’s Fancy Food Show lion in truffle butter revenue in the ured out how to mass-produce and judges says, ‘This is one of the best year) Tin New York. What chance could next 12 months,”Mr.Baumont says. package it in a Queens factory. products in the market.’ ” their truffle butter have against more than 590 entries? The day of the deadline, the en- trepreneurs ran a butter sample from their two-year-old startup on the Businesses run on credit. West Side down to the Specialty Food Trade Association,which runs Isn’t it good to know there’s a bank around the show. When the top award, called the with $32 billion in liquidity to provide it? “sofi,” was announced at the end of the evening, “our families were standing in the door screaming,” MUSS DEVELOPMENT INTER PARFUMS INC. BET INVESTMENTS Mr.Baumont says.“I was so stunned because it was so unexpected.” The recognition catapulted $56,500,000 $15,000,000 $20,000,000 Messrs. Farges and Baumont’s tiny 3 years 1 year 2 years company, Transatlantic Foods, to Mortgage Line of Credit Construction Loan prominence in the world of gourmet edibles, where more than 3,000 products are launched annually. But capitalizing on the honor is harder than it would seem. Among other things,Transatlantic faces the ALL-STATE LEGAL STIRLING PROPERTIES MEADOWS OFFICE challenge of distributing the highly FURNITURE perishable product to stores nation- $6,000,000 $55,000,000 wide. $11,500,000 And there’s the small matter of 6 years 7 years Revolving Credit Construction Loan 3 years moving the product once it’s on the Revolving Credit shelves,according to Chelsea Market 5 years Basket owner David Porat. He Term Loan grabbed the brass ring of distribution contracts, Whole Foods, for Tyrrell’s Sweet Chilli and Red Pepper Potato Chips, last year’s sofi winner. RUGGIERO WESTPORT POINT THE HAMPSHIRE “Getting [a product] in there and SEAFOOD INC. CAPITAL/PRUDENTIAL REAL ESTATE COMPANIES having it be successful aren’t necessarily the same thing,”Mr.Porat says. $17,500,000 $49,700,000 $44,700,000 Need funds 10 years 4 years 3 years the financial crisis is Transat- Term Loan Acquisition Facility Secured Line of Credit lantic’s biggest problem.The company needs a line of credit to hire staff and expand but has been put off by Good news. We’re helping these businesses grow. We’re ready to help more. banks, despite its good performance record and the sofi. The founders— One of the country’s top 10 banks, Capital One BankSM has a team of veteran bankers focused friends and industry veterans who left on providing fi nancial solutions for your business. And, with $32 billion in liquidity, we are established careers to form their start- well-positioned to meet your fi nancial needs. up—have turned to private investors, You can also look to us for products and services to help you manage your cash fl ow and protect your family and friends. money. As an FDIC-insured bank, our depositors are insured up to the limit established by federal law. Messrs. Farges and Baumont That means unlimited protection on funds held in non-interest-bearing deposit transaction accounts.* have other things going for them, including Americans’ increasingly Call us today to meet with a Commercial Relationship Manager. For Real Estate, contact sophisticated tastes. Sales of fine Rick Lyon at 212-834-1221. For Middle Market, contact Doug Kennedy at 973-439-7602. foods reached almost $48 billion last year, compared with $41.5 billion in 2005. As the recession curtails restaurant dining, consumers might become more willing to pay $7 to $10 for a small package of Transatlantic’s white or black truffle butter—called GO to a Capital One Bank branch Aux Délices des Bois—to dollop CALL 1-888-855-BANK onto fish, potatoes or pasta. The CLICK www.capitalonebank.com name, meaning “to the delights of the wood,” refers to truffles. Middle Market | Commercial Real Estate | Equipment Leasing & Finance | Oil & Gas | Leverage Finance | Municipal & Tax Exempt Increasing sales of the company’s Available liquidity fi gures for Capital One Financial Corporation, the parent company of Capital One, N.A., are accurate as of 9/30/08. other products,including truffle oils *As of October 14, 2008, all non-interest-bearing deposit transaction accounts at an FDIC-insured institution, including all personal and business checking deposit accounts that do not earn interest, are fully insured for the entire amount in the deposit account. This unlimited insurance coverage is temporary and will remain in effect and pastes, spiced sausages, and for participating institutions until December 31, 2009. Branch products and services offered by Capital One, N.A., Member FDIC. “Capital One Bank” is a trade name of dried and frozen mushrooms, could Capital One, N.A., and does not refer to a separately insured institution. ©2008 Capital One. Capital One is a federally registered service mark. All rights reserved. help make up for any delays in ex-

November 17, 2008 | Crain’s New York Business | 29 nb46p30-31cls.qxp 11/13/08 1:40 PM Page 30

EXECUTIVE RECRUITER PUBLIC & LEGAL NOTICES

POSITION AVAILABLE REQUEST FOR PROPOSALS Notice of Qualification of GLOBAL PLUS+ VALUE LLC. Authority filed with Secy. of State of NY (SSNY) on 10/17/08. Office location: New York County. LLC formed in Delaware (DE) on 09/18/08. Principal office of LLC: 650 Fifth Ave., NY, NY 10019. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to Corporation Service Co., 80 State St., Albany, NY 12207. DE address of LLC: 2711 Centerville Rd., Ste. 400, Wilmington, New Castle Co., DE 19808. Arts. of Org. filed with Secy. of State of DE., John G. Townsend Bldg., Ste. 4, Dover, DE, 19901. Purpose: Any lawful activity

Notice of Formation of STAR QUALITY GENERAL CONTRACTING LLC. Arts. of Org. filed with Secy. of State of NY (SSNY) on 10/08/08. Office location: New York County. Principal office of LLC: c/o Corporation Service Co., 80 State St., Albany, NY 12207. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to the LLC at the address of its principal office. Purpose: Any lawful activity. Economic Development/Retail Study Consultant Services Notice of Formation of EDITIONS FAW- REAL ESTATE Seeking consultant services to BUSH LLC. Arts. of Org. filed with Secy. provide a retail study of East New of State of NY (SSNY) on 09/25/08. Office York, Brooklyn (deadline 12/08/08). location: New York County. Principal office COMMERCIAL OFFICE SPACE Copy of RFP can be downloaded of LLC: 448 West 19th St., #2G, NY, NY JERSEY CITY at www.ldceny.org or contacting 10011. SSNY designated as agent of LLC the LDC at 718-385-6700 ext. 16 upon whom process against it may be served. SSNY shall mail process to Peter R. Stern, Esq., c/o Mclaughlin & Stern, PROFESSIONAL LLP, 260 Madison Ave., NY, NY 10016. OFFICE SUITES Notice of Qualification of McFarlin Purpose: Any lawful activity. AT THE BEACON, Insurance Agency, LLC. Application for JERSEY CITY’S # 1 Authority filed with the Secretary of State Notice of Qualification of CPS 1 Realty Debt of New York (SSNY) on October 3, 2008 LLC, App. for Auth. filed Sec’y of State CONDO COMMUNITY N.Y. Office location: New York County. Notice of Qualification of Siemens (SSNY) 9/19/08. Office location: NY County. LLC formed in Maryland on September 1,100 TO 3,300 SQ. FT. Electronics Assembly Systems, LLC. LLC org. in DE 9/15/08. SSNY designated OFFICE SPACE 15, 2008 SSNY has been designated as Authority filed with NY Dept. of State on as agent of LLC upon whom process Ground Flr/Mezzanine Levels agent of LLC upon process against it may 9/30/08. Office location: NY County. against it may be served. SSNY shall mail LAW SUITE - PARK AVE @ 40th ST From $3,000/month be served. The P.O. address to which the Principal business addr.: 170 Wood Ave. copy of process to c/o Nat. Reg. Agents, 1-3 furnished windowed offices in law SSNY shall mail a copy of any process So., Iselin, NJ 08830. LLC formed in DE 875 Ave of the Americas, NY, NY 10001, suite, singly or together. Generous High Ceilings against the LLC served upon him/her is on 7/30/08. NY Sec. of State designated the Reg. Agt. upon whom proc. may be secretarial and file space, conference Ample Parking C/O the LLC CT Corporation System, 111 as agent of LLC upon whom process served. DE office addr.: 160 Greentree Dr., Eighth Avenue, New York, New York room. 1 year sublet, possible extension. Newly Constructed in against it may be served and shall mail Ste. 101, Dover, DE 19904. Cert. of Form. World-Class Development 10011. The principal business address of process to: CT Corporation System, 111 on file: SSDE, Townsend Bldg., Dover, DE Call 212-681-0800 the LLC is: 6135 Hillside Court, Suite D, 8th Ave., NY, NY 10011, regd. agt. upon 19901. Purpose: any lawful activities. Developer Will Build To Suit Columbia, Maryland 21046. Dissolution whom process may be served. DE addr. of Tribeca Film Center date: N/A Purpose of LLC to operate an LLC: 1209 Orange St., Wilmington, DE Notice of Formation of 902 LIBERTY Beautifully Re-Designed Executive Occupancy - April 1, 2009 insurance agency with respect to property 19801. Arts. of Org. filed with DE Sec. of AVENUE, L.P. Certificate filed with Secy. of Space with Multiple Offices and and casualty insurance products. Karen Cahill State, 401 Federal St., Dover, DE 19901. State of NY (SSNY) on July 8, 2008. Office Bull Pen Area Available. 1104536 w.o. 24-hour security, conference rooms, 201.716.3000 Purpose: any lawful activity. location: New York County. SSNY desig- screening rooms. nated as agent of LP upon whom process Long and short term rentals. Thebeaconjc.com Notice of Qualification of Fortuna Notice of Qualification of Manikay Onshore against it may be served. SSNY shall mail 212-941-2000 Insurance Services, LLC. Authority filed Fund, LP, App. for Auth. filed Sec’y of State process to: c/o Bowery Resident’s with Secy. of State of NY (SSNY) on (SSNY) 7/22/08. Office location: NY County. Committee, 324 Lafayette St., New York, 9/216/08. Office location: NY County. LP org. in DE 7/18/08. SSNY designated as NY 10012. Name/address of each genl. ptr. LLC formed in Kentucky (KY) on 7/26/05. agent of LP upon whom process against it available from SSNY. Term: until December SSNY designated as agent of LLC upon may be served. SSNY shall mail copy of 31, 2058. Purpose: any lawful activity. whom process against it may be served. process to 375 Park Ave., Ste. 2701, NY, NY TELECOMUNICATIONS SSNY shall mail process to: c/o National 10152. DE office addr.: c/o CSC, 2711 PUBLIC & LEGAL Registered Agents, Inc., 875 Avenue of Notice of formation of a Limited Liability Centerville Rd., Wilmington, DE 19808. Cert. Company: IMMO JCG LLC, Articles of the Americas, Ste. 501, NY, NY 10001. of LP on file: SSDE, Townsend Bldg., Dover, NOTICES Address of the principal office: 120 North organization filed with the Secretary of DE 19901. Name/addr. of each gen. ptr. State of New York (SSNY) on 10/01/08. Mill St., Lexington, KY 40507. Arts. of avail. at SSNY. Purpose: any lawful activities. Org. filed with KY Secy. Of State, 700 Office location: New York County. SSNY has been designated as agent of the LLC SUPREME COURT - COUNTY OF BRONX Capital Ave., #152, Frankfurt, KY 40601. Notice of Formation of 124 MACDOUGAL THE PARK AVENUE BANK, Plaintiff against 1001 CASTLE Purpose: any lawful activities. upon whom process against it may be STREET ASSOCIATES, LLC. Cert. of Conversion served. SSNY shall mail a copy of process REALTY GROUP CORP., et al Defendant(s).Pursuant to a filed with Secy. of State of NY (SSNY) on Judgment of Foreclosure and Sale entered herein and to: 60 Broad str - ste 3502, New York, NY NOTICE OF FORMATION of De’Lux Food 10/10/08, converting 124 MACDOUGAL dated October 1, 2008, I, the undersigned Referee will 10004. Purpose: Real Estate. sell at public auction at the Mario Merola County Production LLC. Arts. Of Org. filed with STREET ASSOCIATES to 124 MACDOUGAL Secy. Of State of N.Y. (SSNY) on 8/05/08. STREET ASSOCIATES, LLC. Office location: Building, Room 600, 851 Grand Concourse, Bronx, NY NOTICE IS HEREBY given that a license, Office location: New York County. SSNY New York County. Principal office of LLC: on the 1st day of December, 2008 at 2:00 PM premises number 1216810 for restaurant wine has designated as agent of LLC upon whom c/o Shapiro, 136 E. 56th St., Unit 16C, NY, situate, lying and being in the Borough and County of the been applied for by the undersigned to Bronx, City and State of New York, bounded and process against it may be served. SSNY NY 10022. SSNY designated as agent of sell wine at retail in a restaurant under the described as follows: BEGINNING at a point on the cor- shall mail process to principal business LLC upon whom process against it may be Alcoholic Beverage Control Law at 515 ner formed by the intersection of the northerly side of location: 244 Fifth Avenue, Suite S209, NY, served. SSNY shall mail process to The LLC West 52nd Street, New York, New York Eastern Boulevard with the westerly side of Castle Hill NY 10001. Purpose: Any lawful activity. at the principal office of the LLC. Purpose: 10019 for on premises consumption. Avenue as the same are now legally opened; being a plot Ownership of real estate. Applicant- Stanislas Inc. 108.06 feet by 80.36 feet by 108.06 feet by 80.45 feet. Notice of Qualification of New Mountain Said premises known as 1001 CASTLE HILL AVENUE, Vantage (California) II, L.P. Authority filed Notice of Qualification of 125 URBAN JV BRONX, NY Approximate amount of lien $1,788,290.26 with NY Dept. of State on 9/15/08. Office PARTNERS LLC. Authority filed with Secy. plus interest & costs. Premises will be sold subject to location: NY County. LP formed in DE on of State of N.Y. (SSNY) on 2/19/08. Office provisions of filed judgment and terms of sale. Index Advertise on Number 18755/07. STEVEN J. BAKER, ESQ., Referee. 8/26/08. NY Sec. of State designated as location: NY County. LLC formed in KRISS & FEUERSTEIN LLP Attorney(s) for Plaintiff 360 agent of LP upon whom process against it Delaware (DE) on 11/30/06. SSNY desig- Lexington Avenue, Suite 1200, New York, NY 10017 may be served and shall mail process to nated as agent of LLC upon whom process the principal business addr. of the LP: 787 against it may be served. SSNY shall mail www.crainsnewyork.com Seventh Ave., 49th Fl., NY, NY 10019. DE process to: c/o Thor Equities, LLC, 25 W. addr. of LP: c/o The Corporation Trust Co., 39th St., NY, NY 10018. DE address of 1209 Orange St., Wilmington, DE 19801. LLC: c/o National Registered Agents, Inc., Call John Gallagher Name/addr. of genl. ptr. available from NY 160 Greentree Drive, Ste. 101, Dover, DE Sec. of State. Cert. of LP filed with DE Sec. 19904. Arts. of Org. filed with DE Secy. of VISIT OUR WEBSITE www.crainsnewyork.com of State, Federal & Duke of York Sts., Dover, State, 401 Federal St., Ste. 4, Dover, DE @ 212-210-0189 DE 19901. Purpose: any lawful activity. 19901. Purpose: any lawful activity.

30 | Crain’s New York Business | November 17, 2008 nb46p30-31cls.qxp 11/13/08 1:41 PM Page 31

PUBLIC & LEGAL NOTICES

NOTICE OF FORMATION of Gravity Seven, Notice of Qualification of Paramount Labor Notice of formation of SIMPLY SPOTLESS, Notice of Qualification of Visium Equity Notice of Qualification of COASTAL PRO- LLC. Article of Organization filed with Leasing Eastern, L.L.C. Authority filed with LLC. Arts. of Org. filed with the Secy of Global Fund, LP, App. for Auth. filed Sec’y TECTIVE SERVICES, LLC. Authority filed the Secretary of State of NY (SSNY) on Secy. of State of NY (SSNY) on 9/25/08. State of NY (SSNY)on 6/18/08. Office of State (SSNY) 9/8/08. Office location: NY with Secy. of State of NY (SSNY) on 05/29/08. Office location: NY County. Office location: NY County. LLC formed in location: Bronx County. SSNY designat- County. LP org. in DE 9/3/08. SSNY desig- 8/26/08. Office location: New York County. SSNY has been designated as agent Ohio (OH) on 8/4/08. SSNY designated as ed as agent upon whom process nated as agent of LP upon whom process LLC formed in Delaware (DE) on 12/16/02. upon whom process against it may be agent of LLC upon whom process against against it may be served. SSNY shall against it may be served. SSNY shall mail Principal office of LLC: 1 E. 57th St., NY, served. The Post Office address to which it may be served. SSNY shall mail process mail process to: c/o Sunita Jadusingh, copy of process to Attn: Dr. Jacob Gottlieb, NY 10022. SSNY designated as agent of the SSNY shall mail a copy of any to: c/o CT Corporation System, 111 8th 801 Tilden Street, #3J, Bronx, NY 950 Third Ave., 30th Fl., NY, NY 10022. DE LLC upon whom process against it may be process against the LLC served upon Ave., NY, NY 10011, registered agent upon 10467. Purpose: all lawful activities. office addr.: c/o CSC, 2711 Centerville Rd., served. SSNY shall mail process to the him is C/O the LLC 149 E 23rd St.. N.Y., whom process may be served. OH Wilmington, DE 19808. Cert. of LP on file: LLC at the address of its principal office. N.Y., 10010. Purpose of LLC: to engage address/principal bus. loc. of LLC: 600 NOTICE OF FORMATION OF DANZ EMER- SSDE, Townsend Bldg., Dover, DE 19901. Addr. in jurisdiction of formation: c/o in any lawful act or activity. Street Gillam Rd., Wilmington, OH 45177. Cert. GENCEE. DanzEmergencee. Arts of Org Name/addr. of each gen. ptr. avail. at SSNY. National Corporate Research, Ltd., 615 S. address of Principal Business location is: of Org. filed with OH Secy. of State, 30 filed with the SSNY on 4/21/2008. SSNY Purpose: any lawful activities. Dupont Hwy., Dover, Kent County, DE 35 E. 21st Street, New York, NY 10010. East Broad St., 14th Fl., Columbus, OH designated as an agent of LLC upon 19901. Arts. of Org. filed with Secy. of 43266. Purpose: all lawful purposes. whom process against the LLC may be Notice of Qualification of Core Fixed State of the State of DE, Div. of Notice of Formation of 6408 NEW served. SSNY shall mail a copy of process Income Fund LLC. Authority filed with NY Corporations, PO Box 898, Dover, DE UTRECHT AVE LLC, a domestic LLC. Arts. SUN GARDEN RESEARCH & DEVELOP- to PO Box 45. New York, NY 10101. Dept. of State on 10/22/08. Office loca- 19903. Purpose: Any lawful activity. of Org. filed with the SSNY on 09/11/08. MENT LLC, a domestic Limited Liability Purpose: any lawful purpose tion: NY County. Principal business addr.: Office location: NY County. SSNY has Company (LLC) filed with the Sec of State 225 Liberty St., 7th Fl., NY, NY 10281. Notice of Formation of E-Brokerage LLC. been designated as agent upon whom of NY on 9-10-08. NY Office location: New Notice of Qualification of 1556-1560 LLC formed in DE on 9/12/07. NY Sec. of Arts of Org. filed with Secy. Of State of NY process against the LLC may be served. York County. SSNY is designated as Flatbush Ave. LLC, App. for Auth. filed State designated as agent of LLC upon (SSNY) on 11/30/01 Office Location: New SSNY shall mail a copy of process to: 37A agent upon whom process against the Sec’y of State (SSNY) 8/25/08. Office loca- whom process against it may be served York County. SSNY designated as agent of Orchard Street, NY, NY 10002. Purpose: LLC may be served. SSNY shall mail a tion: NY County. LLC org. in DE 3/13/97. and shall mail process to: CT Corporation LLC upon whom process against it may Any Lawful Purpose. copy of any process against the LLC SSNY designated as agent of LLC upon System, 111 8th Ave., NY, NY 10011, be served. SSNY shall mail process to served upon him/her to The LLC, 594 whom process against it may be served. regd. agt. upon whom process may be principal business location: 29 Broadway, Notice of Formation of ARTICLE ONE Broadway, Ste. 1002A, NY, NY 10012. SSNY shall mail copy of process to 1556 served. DE addr. of LLC: c/o The Suite 1510, NY, NY 10006. Purpose: Any PARTNERS, LLC. Arts. of Org. filed with General Purposes. Flatbush Ave., Brooklyn, NY 11210. DE Corporation Trust Co., 1209 Orange St., lawful business activity. Secy. of State of NY (SSNY) on 10/14/08. office addr.: 160 Greentree Dr., Ste. 101, Wilmington, DE 19801. Arts. of Org. filed Office location: New York County. SSNY TREND POT NY, LLC, a domestic Limited Dover, DE 19904. Cert. of Form. on file: with DE Sec. of State, PO Box 898, Dover, Notice of Formation of CROWN FIFTH designated as agent of LLC upon whom Liability Company (LLC) filed with the Sec SSDE, Townsend Bldg., Dover, DE 19901. DE 19903. Purpose: any lawful activity. RETAIL LLC. Arts. of Org. filed with Secy. process against it may be served. SSNY of State of NY on 6-12-08. NY Office loca- Purpose: any lawful activities. of State of N.Y. (SSNY) on 3/14/08. Office shall mail process to Golenbock Eiseman tion: New York County. SSNY is designated Notice of Formation of Sale Proceeds location: NY County. SSNY designated as Assor Bell & Peskoe, LLP, Attn: Richard S. as agent upon whom process against the Notice of Formation of Global Care LLC. LLC, Art. of Org. filed Sec’y of State agent of LLC upon whom process against it Kaplan, Esq., 437 Madison Ave., 40th Fl., LLC may be served. SSNY shall mail a Arts of Org filed with the Sec of State of NY (SSNY) 8/12/08. Office location: NY may be served. SSNY shall mail process to: NY, NY 10022. Purpose: Any lawful activity. copy of any process against the LLC served (SSNY) on 08/06/08. Office Location: NY County. SSNY designated as agent of c/o Crown Acquisitions, 362 Fifth Avenue, upon him/her to The LLC, 30 W. 26th St., County. SSNY designated as agent of upon LLC upon whom process against it may NY, NY 10001. Purpose: any lawful activity. DWIGHT LANE CAPITAL LLC, a domestic 10th Fl., NY, NY 10010. General Purposes. whom process against LLC may be served. be served. SSNY shall mail copy of Limited Liability Company (LLC) filed with SSNY shall mail process to: Joseph F. Lisa, process to c/o Nat. Reg. Agents, 875 Notice of Formation of Dawson Sachs the Sec of State of NY on 7-21-08. NY BRANDON INTERNATIONAL ADVISORS 230 Park Avenue, NY, NY 10169-0005. Ave of the Americas, NY, NY 10001, the Development LLC. Arts. of Org. filed with Office location: New York County. SSNY LLC, a domestic Limited Liability Company Purpose: Any lawful purpose. Reg. Agt. upon whom proc. may be Secy. of State of N.Y. (SSNY) on 6/19/08. is designated as agent upon whom (LLC) filed with the Sec of State of NY on served. Purpose: any lawful activities. Office location: NY County. SSNY desig- process against the LLC may be served. 6-22-07. NY Office location: New York Notice of Qualification of Microcal, LLC. nated as agent of LLC upon whom SSNY shall mail a copy of any process County. SSNY is designated as agent Authority filed with Secy. of State of NY Notice of Qualification of VA Associates, process against it may be served. SSNY against the LLC served upon him/her to upon whom process against the LLC may (SSNY) on 10/2/08. Office location: NY LLC. Auth. filed with NY Dept. of State: shall mail process to: The LLC, 111 Great The LLC, C/O Blue Shirts Realty, LLC, 183 be served. SSNY shall mail a copy of any County. LLC formed in Delaware (DE) on 8/22/08. Office loc.: NY County. LLC Neck Road, Great Neck, NY 11021. Madison Ave., Ste. 505, NY, NY 10016. process against the LLC served upon 11/15/99. SSNY designated as agent of formed in NV: 6/2/04. NY Sec. of State Purpose: any lawful activity. General purposes. him/her to The LLC, 227 E. 66th St., Apt. LLC upon whom process against it may be designated agent of LLC upon whom 2C, NY, NY 10021. General purposes. served. SSNY shall mail process to: The process against it may be served and Notice of Formation of Newshong LLC. Notice of Qualification of New Dimension LLC, 22 Industrial Dr. East, Northampton, shall mail process to: c/o CT Corporation Arts. of Org. filed with Secy. of State of NY (SSNY) on 9/30/08. Office location: NY Human Capital Solutions, L.L.C. Authority Notice of Qualification of Focus Products MA 01060, also address of the principal System, 111 8th Ave., NY, NY 10011, regd. County. SSNY designated as agent of LLC filed with Secy. of State of NY (SSNY) on Group, LLC. Authority filed with Secy. of office. Address to be maintained in DE: c/o agt. upon whom process may be served. upon whom process against it may be 9/25/08. Office location: NY County. LLC State of NY (SSNY) on 9/18/08. Office The Corporation Trust Company, 1209 Principal office addr.: 8775 Cloudleap Ct., served. SSNY shall mail process to: c/o formed in MI on 8/28/02. SSNY designated location: NY County. LLC formed in Orange St., Wilmington, DE 19801. Arts. Ste P54, Columbia, MD 21045. Arts. of Van-Hang Nguyen MD, 14 E. 96th St., Apt. 9, as agent of LLC upon whom process Illinois (IL) on 7/26/01. SSNY designated of Org. filed with DE Secy. Of State, 401 Org. filed Sec. of State, Carson City, NV NY, NY 10128. Purpose: any lawful activity. against it may be served. SSNY shall mail as agent of LLC upon whom process Federal St., Ste 4., Dover, DE 19901 . 89701. Purpose: any lawful act. process to: c/o National Registered Agents, against it may be served. SSNY shall mail Purpose: any lawful activities. Inc., 875 Ave. of the Americas, Ste. 501, NY, process to: c/o National Registered NOTICE OF FORMATION OF LIMITED Notice of Formation of The Film Cube LLC. NY 10001. MI address of LLC: 625 E Big Agents, Inc., 875 Avenue of the Americas, Notice of Formation of NATROB, LLC. LIABILITY COMPANY. NAME: PAPALOO Arts. of Org. filed with Secy. of State of NY Beaver, Ste. 200, Troy, MI 48083. Arts. of Ste. 501, NY, NY 10001. Principal office: Arts. of Org. filed with Secy. of State of WEST LLC. Articles of Organization were (SSNY) on 8/20/08. Office location: NY Org. filed with MI Secy. of State, Corp. Div., 35 Peppermint Rd., NY 11725. Address to NY (SSNY) on 10/2/08. Office location: filed with the Secretary of State of New County. SSNY designated as agent of LLC 7150 Harris Dr., PO Box 30054, Lansing, MI be maintained in IL: 120 Lakeview New York County. SSNY designated as York (SSNY) on 05/01/07. The name was upon whom process against it may be served. 48909. Purpose: any lawful activity. Parkway, Vernon Hills, IL 60061. Arts. of agent of LLC upon whom process against amended to EMPIRE SOBRO PARTNERS SSNY shall mail process to: Christopher Org. filed with IL Secy. Of State, 501 S. it may be served. SSNY shall mail process LLC on 08/13/08. Office location: New Sewall, 5619 Oak Place, Bethesda, MD Notice of Qualification of THE L CONSUL- Second St., Rm. 351, Springfield, IL to the LLC, 65 W. 36th St., 9th Fl., NY, NY York County. SSNY has been designated 20817. Purpose: any lawful activity. TANCY GROUP LLC. Authority filed with 62756. Purpose: any lawful activities. 10018. Purpose: Any lawful activity. as agent of the LLC upon whom process Secy. of State of NY (SSNY) on 10/10/08. against it may be served. SSNY shall mail Notice of Formation of JRM TUTORING, LLC, a domestic LLC. Arts. of Org. filed Office location: New York County. LLC Notice of Qualification of WILLIAMS a copy of process to the LLC, 162 Ridge FSC BARBERSHOP LLC, a domestic with the SSNY on 10/08/08. Office loca- formed in Delaware (DE) on 10/07/08. U.S.A. REALTY SERVICES, LLC. Authority Drive East, Great Neck Estates, New York. Limited Liability Company (LLC) filed with tion: NY County. SSNY has been designat- Principal office of LLC: 437 Madison Ave., filed with Secy. of State of NY (SSNY) on Purpose: For any lawful purpose. the Sec of State of NY on 12-10-07. NY ed as agent upon whom process against NY, NY 10022. SSNY designated as agent 9/22/08. Fictitious name in NY State: Office location: New York County. SSNY the LLC may be served. SSNY shall mail a of LLC upon whom process against it may WILLIAMS USARS, LLC. Office location: Notice of Qualification of MEDIA PUSH is designated as agent upon whom copy of process to: 33 West 88th St., NY, be served. SSNY shall mail process to c/o NY County. LLC formed in Delaware (DE) ENTERTAINMENT LLC. Authority filed with process against the LLC may be served. NY 10024. Purpose: Any Lawful Purpose. Corporation Service Co., 80 State St., SSNY shall mail a copy of any process on 8/21/08. SSNY designated as agent of Secy. of State of NY (SSNY) on 10/31/08. Albany, NY 12207-2543. DE address of against the LLC served upon him/her to LLC upon whom process against it may Office location: New York County. LLC INDUS EQUITIES, LLC Articles of Org. LLC: 2711 Centerville Rd., Ste. 400, Coopersmith & Coopersmith, Attn: Richard be served. SSNY shall mail process to: formed in Delaware (DE) on 09/23/08. filed NY Sec. of State (SSNY) 11/3/08. Wilmington, DE 19808. Arts. of Org. filed D. Coopersmith, Esq., 233 Broadway, 380 Madison Ave., NY, NY 10017. DE Principal office of LLC: 550 Madison Ave., Office in NY Co. SSNY desig. agent of LLC with DE. Secy. of State, John G. Townsend 18th Fl., NY, NY 10279. General purposes. address of LLC: c/o United Corporate NY, NY 10022. SSNY designated as agent upon whom process may be served. Bldg., 401 Federal St., Ste. 4, Dover, DE, Services, Inc., 874 Walker Road, Ste. C, of LLC upon whom process against it may SSNY shall mail copy of process to c/o 19901. Purpose: Any lawful activity. Dover, DE 19904. Arts. of Org. filed with be served. SSNY shall mail process to c/o Notice of Formation of NEMO16, LLC. Joshua Kammerman, Kammerman DE Secy. of State, Townsend Bldg., Dover, Corporation Service Co., 80 State St., Arts. of Org. filed with Secy. of State of Associates, LLP, 253 5th Ave., 5th Fl., NY, DE 19901. Purpose: to engage in the real Albany, NY 12207-2543. DE address of Name of For. LP: TOWERBROOK NY (SSNY) on 02/02/06. Office location: NY 10016. Purpose: Any lawful purpose. estate management business. LLC: 2711 Centerville Rd., Wilmington, DE INVESTORS III (PARALLEL), L.P. Appl. for New York County. Principal office of LLC: Latest dissolve date: 12/31/2028 Auth. filed with Sec. of State of NY: 39 W. 38th St., #6W, NY, NY 10018. The 19808. Arts. of Org. filed with Secy. of 9/11/08. Jurisd. and date of org.: Alberta latest date on which the LLC may dissolve State of DE, John G. Townsend Bldg., 401 Notice of Qualification of DRAGON BUS, Notice is hereby given a License Number 3/17/08. Principal bus loc.: 430 Park is 12/31/2026. SSNY designated as agent Federal St., Dover, DE 19901. Purpose: LLC. Authority filed with Secy. of State of (PENDING) for on-premises Liquor has Avenue, 6th Floor, New York, NY 10022. of LLC upon whom process against it may Any lawful activity. NY (SSNY) on 10/22/08. Office location: been applied for by the undersigned to NY State office loc.: New York Cty. Sec. of be served. SSNY shall mail process to New York County. LLC formed in sell liquor at retail in a Restaurant Under State designated as agent upon whom The LLC at the principal office of the LLC. Notice of formation of a Limited Liability Delaware (DE) on 10/03/08. Principal the alcoholic Beverage Control Law at 161 process against it may be served. Sec. of Purpose: Any lawful activity. Company (LLC): Name: KONTAIN LLC, office of LLC: 160 S. Rt. 17 N, Paramus, Chrystie Street, New York, NY 10002 for State shall mail copy of process to: 430 Articles of Organization filed with the NJ 07652. SSNY designated as agent of on premises consumption. DIXON PLACE Park Avenue, 6th Floor, New York, NY Secretary of State of New York (SSNY) on Notice of Formation of MADE-BY-HAND, LLC upon whom process against it may LLC d/b/a Dixon Place 10022. Addr. of LP in NY is TowerBrook LLC. Arts. of Org. filed with Secy. of State be served. SSNY shall mail process to c/o 09/30/08. Office location: New York Investors GP III (Parallel), L.P., 430 Park of NY (SSNY) on 09/23/08. Office loca- Corporation Service Co., 80 State St., County. SSNY has been designated as Avenue, 6th Floor, New York, NY 10022. tion: New York County. Principal office of Albany, NY 12207-2543. DE address of agent of the LLC upon whom process To place your Name/addr. of GP avail. from Sec. of LLC: 227 W. 11th St., #52, NY, NY 10014. LLC: 2711 Centerville Rd., Ste. 400, against it may be served. SSNY shall mail State. Authorized office in Alberta where SSNY designated as agent of LLC upon Wilmington, DE 19808. Arts. of Org. filed a copy of process to: C/O KONTAIN LLC, classified ad Cert. of LP is filed is Alberta Registrar of whom process against it may be served. with DE Secy. of State, Div. of Attention: Legal, 80 Franklin Street #1, Corporations, P.O. Box 1007, Station SSNY shall mail process to the LLC at the Corporations, John G. Townsend Bldg., New York, NY 10013. Purpose: Any call John Gallagher Main, Edmonton, Alberta, Canada T5J address of its principal office. Purpose: 401 Federal St., Ste. 4, Dover, DE 19901. Lawful Purpose. Latest date upon which 4W6. Purpose: any lawful activity. Any lawful activity. Purpose: Any lawful activity. LLC is to dissolve: No specific date.” @ 212-210-0189

November 17, 2008 | Crain’s New York Business | 31 CNYB 11-17-08 A 32 11/13/2008 6:08 PM Page 1

NEIGHBORHOOD JOURNAL

deadly—lagging only Third Avenue Queens dog-run plan unleashed and Broadway in Manhattan, according to the Tri-State Trans- portation Campaign. Over the past “Dog groups have cording to Ms. Seiger. three years, nine pedestrians have Group wants to fence grown unbelievably Nearby Forest Park, with its 543 been killed on Hylan Boulevard. off part of Forest all over the city, espe- acres, boasts one of the biggest dog While the street runs the length cially in Queens,”says runs in the city. But it is a 15-minute of Staten Island, the most danger- Hills park as quantity Bob Marino, pre- drive away, an inconvenient distance ous spot is the intersection of Hylan sident of NYCdog for dog owners, says Ms. Seiger. In and New Dorp Lane, in the New of canines increases (pronounced “nice addition, it takes the dogs out of the Dorp neighborhood. Over the past dog”), an umbrella community. Dog parks have been three years,four elderly women have he dog days of summer advocacy organiza- known to reduce crime in a neigh- been struck and killed there. are long over, but resi- tion that takes charge borhood, she notes, because the in- “There is a lot of fast-moving dents of Forest Hills, of puppy politics FOREST HILLS, with creased foot traffic acts as a deterrent. traffic, and clearly the road itself is Queens, are trying to ex- throughout the five leafy streets, is home The fencing decision lies with not designed with pedestrians in tend them year-round. boroughs. “From to many dog owners. the Parks Department, which has mind,” says Kate Slevin, executive TA group calling itself the Forest Whitestone to Rock- taken the issue under consideration. director of the campaign. “The city Hills Dog Lovers Association is pe- away,Forest Hills and Some of the city’s largest and announced a program to make titioning the city and the Depart- Middle Village, groups are contact- Residential buildings are relax- most famous residences have swept streets safer for seniors,but we’re not ment of Parks and Recreation to ing us all the time to help them work ing their rules to allow dogs. Ms. away their dog bans. Stuyvesant out of the woods yet.” cordon off part of Yellowstone Mu- with their park administrators to set Seiger’s own Forest Hills building, Town and Peter Cooper Village in Borough President James Moli- nicipal Park for use as a dedicated up dog parks,” he adds. 600-unit Birchwood Towers— Manhattan recently changed their naro insists that a number of leash-free dog run.The roughly 50- Since 2006, 15 Queens-based where she sits on the board—voted rules to allow dogs for the first time. changes—including crossing count- member group presented 650 signa- pet-owner groups have joined just a few months ago to allow dogs. —hilary potkewiz down clocks—have already made the tures in support of its proposal at a NYCdog. The borough currently The burgeoning canine popula- intersection safer. He says a city De- Community Board 6 meeting last has 26 dog parks, and the group is tion also reflects big shifts in the partment of Transportation lane ex- week. Not surprisingly, some resi- working with the Parks Department area’s human population. For A safer street tension project in 2010 and a new en- dents are opposed to fencing in part trying to develop 15 more, accord- decades, Forest Hills and Kew Gar- on Staten Island trance to nearby Miller Park should of the 1.7-acre park, which already ing to Mr. Marino. dens have been populated by East- help reduce accidents and delays. has “off-leash” dog hours between 6 Forest Hills’ explosion in dog ern European Orthodox Jewish im- traffic moves relatively fast on the “Nine fatalities is, of course, nine a.m. and 9 a.m. ownership over the past few years migrants, who have had low rates of streets of the city’s least populous too many,”says Mr.Molinaro.None- The number of people out walk- can be traced to two major trends: dog ownership. borough, Staten Island. On main theless, he points out that the left- ing their dogs along the leafy, quiet changing condo rules and changing But as more young families and drag Hylan Boulevard, it often hits turn ban at 33 intersections along streets of Forest Hills has exploded demographics, according to Beverly urban professionals have moved a deadly pace. Hylan helped to slash the number of in recent years—a trend it shares Seiger, president of the dog lovers into the area over the past few years, Last month, the thoroughfare traffic accidents by 27% last year. with other parts of the city. was named the city’s third most twc_halfpage.ai 10/21/08 6:07:51association. PM dog ownership has increased, ac- —matthew sollars

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32 | Crain’s New York Business | November 17, 2008 CNYB 11-17-08 A 33 11/14/2008 7:50 PM Page 1

WEEK IN REVIEW For daily news updates, go to www.crainsnewyork.com

agreement’s force majeure clause. ECONOMIC SPOTLIGHT Ballooning bailout the u.s. government restructured its bailout effort for insurance giant American International Group Inc., increasing the firm’s aid to $150 billion. Just before the revision, AIG posted a larger-than- expected third-quarter loss of $24.5 billion, or $9.05 a share. Analysts had expected a loss of just 90 cents a share. ap images Queens redevelopments win City suspends green light from City Council 2 crane operators THE CITY COUNCIL overwhelmingly approved two proposed the city’s Department of Buildings suspended two crane redevelopments in Queens. The city negotiated with operators and fined each of them business owners until the eleventh hour to reach accord on $25,000 for their roles in a fatal the 62-acre WILLETS POINT PROJECT (above), which will September accident.The men, who must also undertake 30 hours include apartments, a hotel, stores, a convention center of training, were dismantling a and more. Officials will seek a developer next year. For the crane when another worker fell 30-acre waterfront project at HUNTERS POINT SOUTH, the from a platform attached to it. city plans to build an affordable-housing development that will rank as the largest in three decades. Suit targets terms Economy Watch a coalition of elected officials and voters filed a federal lawsuit The NYC and U.S. jobless rates were both flat from August to September. company so it can take a piece of over Mayor Michael Bloomberg’s Recent 12-month increases in area inflation were the highest since mid-2006. 2 donations set the federal bailout pie. CIT Group bid for a third term in office in AUGUST ’08 SEPTEMBER ’08 COMPARISON hospital record Inc. has also applied. AmEx, 2009.The suit seeks to bar the which wants $3.5 billion, aims to Board of Elections from listing NY area inflation change -0.2% 1 +0.1% +5.2% new york university’s Langone offset rising credit-card losses. term-limited city officials on NYC unemployment rate 5.8% 5.8% 6.1%2 Medical Center received two gifts CIT has been battered by losses in ballots.Two referendums upheld NYC employment change n/a -2,400 +17,5003 totaling $260 million, pushing this its mortgage and student loans term limits in the 1990s. year’s collection to a record $506 portfolios. n/a Not available. 1-NY area inflation rate for the latest 12-month period. 2-U.S. unemployment rate for the latest month. 3-NYC employment change year to date. million. Benefactor Helen Kimmel gave $150 million for a Halstead expands Minding the gap: new inpatient building, and an fare hike in 2009 anonymous donor contributed residential real estate NYC Hotel Stats Broadway Stats $110 million to redesign NYU’s brokerage Halstead Property is the metropolitan Transport- flagship Tisch Hospital. expanding into the commercial ation Authority said it may raise The average daily room rate soared Attendance and box-office gross market. It formed an investment fares and tolls or cut services to and occupancy dropped in Septem- rebounded in the period ended 11/9 Circuit City shorts sales division and hired a close a $1.2 ber, data from PKF Consulting show. after a slower week in late October, managing director to start selling billion budget The room rate topped the level for The Broadway League reports. There electronics retailer Circuit apartment buildings, office towers, deficit in the same month in ’07; occupancy were 11 plays and 21 musicals at City Stores Inc. filed for Chapter hotels and other properties.The 2009. Execu- was below the year-earlier figure. Broadway theaters for the week. 11 bankruptcy protection just days change comes as the weakening tives blamed after announcing it would close economy stifles the entire market. the revised 155 stores and cut thousands of figure, which jobs. Facing slower consumer grew $300 spending and increased Mall owner’s debt million in five competition, it will now curb store months, on

may topple firm bloomberg news openings and lay off at least 700 plunging real more people. mall owner General Growth estate and corporate tax revenue. Properties Inc. warned that it may Citi courts Chevy have to file for bankruptcy protection as it tries to refinance NY job listings citigroup inc. reportedly more than $4 billion in debt due plunge online entered into talks to buy next year. It owns the South Street Maryland-based Chevy Chase Seaport and recently won rights to the number of New York job Bank. A merger would help Citi help develop a $700 million listings posted on the Internet expand its retail operations, project in Harlem. dropped 25% in October, something it wanted to do in its compared with a year ago, accord- failed bid for Wachovia Corp.The Trump calls foul ing to Monster Worldwide Inc.’s Capital IQ’s Weekly Deals Report company also joined a growing list monthly employment index.The of banks trying to aid troubled real estate developer Donald national average fell 20%. Finance TRANSACTION SIZE COMPANY/LOCATION (in millions) BUYER/INVESTOR TRANSACTION TYPE homeowners by imposing a Trump (below) went to court to listings declined the most, moratorium on foreclosures. buy more time to pay off a $640 followed by retail jobs. 320,000-square-foot $81.8 Not disclosed SB M&A office building million construction loan on a White Plains Chicago high-rise, which Cooking Gilt-free Open-Xchange Inc. $9.0 eCapital Entrepreneurial GCI Hat in hand, new came due earlier this month. Tarrytown Partners, BayBG, BayTech banks appear He contends that his lenders chef christopher lee is leaving Venture Capital should extend the Gilt restaurant, where he earned Finotec Group Inc. $2.5 Not disclosed GCI american deadline because the two stars from the Michelin Guide, Manhattan Express Co. economic crisis to take the helm at Aureole.The Selected deals announced during the week of Nov. 2 for companies headquartered in metro New received qualifies as an Charlie Palmer-owned restaurant York. GCI: Growth capital investment represents new money invested in a company for a minority stake. SB M&A: Strategic buyer M&A represents a minority or majority acquisition of existing approval from the extraordinary will also move to 1 Bryant Park. shares of a company without the participation of a financial buyer. Federal Reserve to event that —from staff reports and

bekka lindström bekka become a bank holding triggers the bloomberg news reports bloomberg news November 17, 2008 | Crain’s New York Business | 33 CNYB 11-17-08 A 34 11/14/2008 4:48 PM Page 1

will make it nearly impossible for the city to seize their land, which presumably will become more STATE SENATE Malcolm plays nice THE INSIDER valuable. Although that MALCOLM SMITH’S OFFICE could be forgiven for sending out a press release last arrangement augurs problems, the week that prematurely referred to him as “majority leader-elect.” After all, Gov. by Erik Engquist and Matthew Sollars rezoning will make it easier to reach David Paterson had introduced him as such shortly after the Nov. 4 election, in deals on the remaining 20 acres still which Democrats won a majority of Senate seats for the first time since 1965. in private hands. But dissident Democrats standing between Mr. Smith and the leadership Eminent domain is on the table spot have proved surprisingly resilient. Only one of the original four has defected— for those landowners, and the city Hiram Monserrate, a Queens City Council member who will join the state Senate anticipates more will come around. in January—leaving Mr. Smith three votes short of the 32 he needs to As Mayor Michael Bloomberg said become one of the “three men in a room” who run the state. last week, “Having that threat there Mr. Smith has stuck to the high road, threatening to fire any gets everybody focused.” staffer who spreads dirt about the three holdouts. He has tried to placate one, Sen. Ruben Diaz Sr. (top left), by saying that Mayor feels gay marriage—which he supports but Mr. Diaz bitterly opposes— STAYING PUT: is not part of his near-term agenda. “He’s not going to go forward Gordhandas Soni of the state’s pain [on gay marriage] without a consensus from his conference,” says a House of Spices will be able to stay city hall officials don’t expect spokeswoman for Mr. Smith. “There is no consensus.” at his current the mayor to make a big deal over But Mr. Diaz says he will not vote for a majority leader who location for now. Gov. David Paterson’s proposed would ever allow a gay-marriage bill to reach the Senate floor. Mr. $41 million cut in direct aid to the Smith has made no promise to block such a bill and is not likely city, even as assistance to other to do so. Much of his conference supports gay marriage, and the municipalities is being preserved. Empire State Pride Agenda, a gay group, provided strong financial Mayor Michael Bloomberg has backing for Democratic candidates in crucial state Senate races. larry ford called the system in which the city The other two rebels, Sen. Carl Kruger (middle left) of Brooklyn sends more revenue to the state and Sen.-elect Pedro Espada Jr. (bottom Willets Point intrigue than it gets back in services left) of the Bronx, say they want a “unfair.” Latino majority leader because no he city’s agreements with landowners in Willets But with tough cuts looming for Latino holds a leadership post in Point were falling apart as the City Council voted the city budget, the mayor won’t state or city government. Mr. Thursday to rezone the area. want to join the chorus of interest Kruger’s interest in Latino T groups jumping up to say,“Don’t empowerment is unexpected: He’s white, Immediately following the vote, the city’s Economic cut me,” one insider says. and his district is just 8% Hispanic. Insiders expect Development Corp. announced that it had essentially torn up that Mr. Kruger will back Mr. Smith in exchange for a a deal with House of Spices, a key business in the plum committee chairmanship. It is unclear what will redevelopment site. House of Spices balked at its arrangement New York attracts satisfy Mr. Espada, but his demands for a Latino to move to the Bronx after learning that other companies, cash from abroad majority leader will certainly not be met. Fodera Foods Mr. Monserrate will get a committee including , were being allowed to stay. Now the new york state remains the top chairmanship—either Consumer Protection or city plans to let the owners of both companies to negotiate spot for foreign investment in another that allows him to burnish his image North America, according to a deals with the eventual developer. as a fighter for common folk. Mr. Smith also STATE SENATE report released last week by the pledged to support Mr. Monserrate’s chief of majority leader- It is not clear what leverage the city will have to dislodge Empire State Development Corp. staff, Julissa Ferreras, for the council seat in-waiting those two businesses in the future, as the new understanding The IBM Global Business Services Malcolm Smith. that her boss will vacate at year-end. ap images

study shows that New York has and prevention of sexually $68.6 billion in direct international transmitted diseases, could have investment, which results in new life in Albany with Democrats employment for more than 389,000 in control of the state Senate. people. The bill has passed the Assembly Though multinational banks four times, but never the Republi- account for much of the can-dominated upper chamber. investment, more than $800 The bill is one reason that the Brand new and convenient to million came via such sectors as political arm of Planned Times Square, Broadway theaters, manufacturing and research and Parenthood of New York City and the Javits Center, our hotel development in 2007. aided Democrats in tight races, features: including Joseph Addabbo and James • 224 smoke-free guest rooms Residency required Gennaro in Queens.The group is • Well-appointed Concierge Floors also counting on Democrats to • Free internet access in all the about-face by freshman City protect funding for family guest rooms and public spaces Councilwoman Darlene Mealy on planning. • Over 3,000 square feet of meeting term limits and her slow start in the space, including an outdoor terrace council has left her on everyone’s Reservation tobacco • Fitness Center, Gift Shop & most vulnerable list in next year’s Concierge available 24/7 election, which hasn’t gone tax ticker running unnoticed by her predecessor, Tracy • Greenhouse 36; offering an Boyland eclectic organic menu . the american lung association

SM But if Ms. Boyland mounts a launched a Web site last week that DESTINATION • The Eat Refresh Live Wyndham challenge, Ms. Mealy is sure to tallies the cigarette excise taxes New Café; serving Starbucks® drinks & treats portray her as a New Jersey York state has failed to collect on SATISFACTION resident, an insider says. Native American reservations Introductory rates from $199* Ms. Boyland has been living in since June 3. According to Newark with her husband and the ticker, the amount 341 West 36th St., NY,NY 10018 child, mixing with the Newark surpasses $268 million. Phone: 212-542-8990 political establishment and Collecting tobacco Reservations: 1-866-344-9748 Visit wyndham.com/nyc flipping homes there, taxes on reservations is according to the source. one of the proposals offered by opponents of Gov. David Paterson’s Rubber hits budget cuts.The the road governor says collecting the tax is on his agenda the healthy teens act, but that it can’t happen *Based on availability, does not ©2008 Wyndham Hotels and Resorts, LLC. All rights reserved. apply to existing reservations which would increase in time to balance this instruction about contraception istockphoto budget.

34 | Crain’s New York Business | November 17, 2008 CNYB 11-17-08 A 35 11/13/2008 8:19 PM Page 1

BUSINESS CORPORATE LADDER 2 strategy mavens take over at iVillage PAGE 37 buck ennis

GOTHAM GIGS Word nerd ALEX RAPPAPORT, 28, is giving education a modern twist. He co-founded Flocabulary, along with Creative Director Blake Harrison, 27, on the notion that hip-hop could inspire kids to learn. TOSS UP The aspiring musicians met five years ago in San Francisco, where they were waiting tables. In 2004, they went to work on an old idea of Mr. Harrison’s: to define SAT words in rap songs. “It was just crazy enough to work,” says Mr. Rappaport, the chief executive. AMPLE AGENDA One song later, they snagged a deal with study guide publisher SparkNotes and have been growing ever since. Today, Brooklyn-based Flocab- ulary researches and self-pub- lishes curricula in math, science, history, vocabulary and even Shakespeare for grades 3 and up. HIGH HOPES There’s been some skepticism, but Mr. Rappaport has received positive feedback and results from students, teachers and administrators in the 10,000-plus schools worldwide that have adopted Flocabulary.The company recently launched “A Week in Rap,” an online video series that summarizes current events. “I want to be the name for alternative education,” he says. —sarah studley

EXPERT OPINIONS FINANCIAL LESSONS

FOR STUDENTS d’alimonte adrian because of the financial crisis, fewer banks are giving student THE STATS loans, and donations for scholarships are decreasing. Many New Yorkers’ students are struggling. Don’t That lonely feeling changing habits: be afraid to ask for help.Talk to the financial aid office about Spenders find fewer friends willing to go out and splurge 38% are eating available loans through your out less frequently school and outside sources, and be open to reputable scholarship BY MIRIAM KREININ SOUCCAR 35% are paying searches. Always touch base more attention to with your financial aid officer. ale siegel’s plans for a luxury vacation to Vietnam in December fizzled when her menu prices You have to be financially friends decided that they could no longer afford it. Ms. Siegel and her boyfriend, along savvy; find out if your school is 21% are skipping giving money management with another couple, had spent months studying guide books and consulting travel experts about the $7,000-per-person extravaganza. But just as the foursome was about an appetizer or seminars. Education is key; dessert without it, you won’t be able to to make the arrangements, the other couple backed out. make informed decisions. Ms. Siegel was surprised by their abrupt decision. Her friends are both self- 19% are reducing —aristalia benitez alcohol Director of financial aid employed, and though business has been slow, they are far from broke. Business is also and scholarships down somewhat for Ms. Siegel, president of Circle Mortgage Group, but she isn’t consumption Hunter College Dready to change her lifestyle. See SPENDERS on Page 36 Source: Zagat Survey November 17, 2008 | Crain’s New York Business | 35 CNYB 11-17-08 A 36 11/13/2008 8:22 PM Page 1

BUSINESS LIVES Spenders feeling lonely BARTERING FOR A NIGHT OUT OLGA KUCHUKOV, a massage therapist Continued from Page 35 Last year, lots of his running ly feel uncomfortable being around in Brooklyn, has found a way to She decided not to take the trip buddies wanted to dine in pricey friends who have—or are willing to maintain her active social life during without her buddies, though “of spots and order numerous bottles of spend—more. the recession: bartering. course, this has not affected our wine, or pay twice face-value for “They may end up isolating Early this month, Ms. Kuchukov friendship in the least,” she says. front-row ticket at a sold-out con- themselves so as not to reveal that began trading hour massages— Ms. Siegel and her boyfriend have cert. The single 34-year-old, who they are having financial trouble,” regularly priced at $150—for a night on plans to visit Israel in April. lives in Hoboken, N.J., says his Dr. Cora says. the town. In return for helping a pal As the recession bears down on friends—most of them married with severe back pain, she got two New Yorkers, friends that with kids—are now worried Weird incidents tickets toThe Moth—a story-telling have long partied, dined about paying the mortgage. the fear of hardship has driven performance venue. Another friend and traveled together are 38% “Those concert tickets public relations consultant Lonnie took Ms. Kuchukov to a show at Joe’s finding that they now have DJIA’S DECLINE suddenly seem a lot more Soury and his wife,an executive vice Pub, then dancing. He will get his vastly different spending from a year ago, expensive to my friends president at Court TV, to adopt massage soon. thresholds. In New York, when it reached than they did before,” Mr. homebody status. The Sourys, who its all-time high “Usually when friends take me out, I where living the high life is Kronengold says. used to dine out at trendy restau- feel like I’m mooching,” Ms. Kuchukov embedded in the culture, One might wonder why rants a few times a week, are now says. “They love this idea, because they scaling back because of a reduced anyone is still splurging. The Dow cooking themselves or picking up a income or fear of it can create awk- Jones industrial average has plum- slice of pizza. get to hang out with me and get the massages.” ward moments. Even those who are meted 38% since its all-time peak a Those concerns didn’t resonate Ms. Kuchukov now wants to take the next step with her bartering activity. still flush are finding it hard to ac- year ago, national unemployment is with visitors from San Francisco, “The dream is to find doctors, dentists, and dermatologists to exchange with,” cept that socializing in style is no at a 14-year high and New York is who had made a reservation at an she says.

longer, well, in style. expected to shed at least 165,000 expensive eatery. The Sourys de- istockphoto jobs through 2010, according to a murred, offering to prepare a meal Where did the partiers go? forecast from the city comptroller. instead, and got an unexpected re- changed their behavior.Many ladies done’ or ‘I have so many errands,’ corey kronengold’s party spirit is Adding insult to injury, even an action: Their friends preferred to who regularly attended the Sunday even though we all know that’s not alive and well. The problem is that average meal in the city costs $40.78 have a meal out alone rather than brunch she organizes at Le Bilbo- the real reason.” he can’t find any accomplices. per person, compared with $34.09 share their company at home. quet on the Upper East Side have Ms. Gruber can pinpoint when “Getting my friends to go out nationally. And a repast at the city’s In the end, the Sourys relented been sending their regrets. She sus- the change occurred: the day and spend money like they did a year 20 most expensive restaurants aver- and went to the restaurant. But Mr. pects that some of them are hesitant Lehman Brothers collapsed. “Ever ago is nearly impossible,” says Mr. ages $156.49, more than double the Soury says he “felt a little weird” about opening their wallets. since then, I feel a good portion of Kronengold,senior director of mar- national average, according to the about the incident. “When friends cancel for the young women in New York have keting at Tremor Media, who adds 2009 Zagat Survey. Bryce Gruber, who owns the brunch, they make up little excus- been off their rockers,” she says. that the downturn hasn’t yet affect- Gabriela Cora, a doctor and a Web site The Luxury Spot, has no- es,” Ms. Gruber says. “They say, ‘I “There is a sense that the sky is ed him. wellness coach,says people general- ticed that some of her friends have have so much laundry I have to get falling.” Retailers count on peace, love to lure shoppers

dar Girls.” To be We are pleased to have exclusively represented Window displays will officially unveiled be upbeat, even in Nov. 24, the 35 windows depict gloomy sales season seasonal muses, T.E.G. Management Corporation some surrounded by unicorns, wa- BY ADRIANNE PASQUARELLI terfalls and butter- flies. Miss January in the sale of experts agree that this holiday and Miss February sales season may go down as the mannequins will worst in decades, but some luxury stand in an en- 140-30 and retailers are still focusing on fan- chanted forest. tasies. Unicorns, snowflakes and 140-50 Ash Avenue peace signs will run amok this sea- Let it snow son in the store windows of New farther down Flushing, NY York’s venerable department the street, Saks stores. Fifth Avenue will amanda schwab/starpix amanda Window decorations at Barneys SPIRIT OF SIXTIES: Simon Doonan says the plan for hippie-themed again partner with to Yano Realty, LLC New York celebrate the 50th an- window decorations at Barneys was a year in the making. St. Jude Children’s niversary of the peace sign, along Research Hospital Chios Realty Group I, LLC with 1960s counterculture icons for its window ex- Limani Realty, LLC such as John Lennon and Janis lines on the floor, and a segment hibit. The store will use snowflakes Joplin. The upscale fashion retailer dedicated to women of the counter- as its theme, and fashion designers and Demicat Realty, LLC unveiled its “Peace and Love: Have culture. such as Carolina Herrera and a Hippie Holiday” theme in a sneak Partnering with Volkswagen of Michael Kors will display gowns preview on Wednesday. America Inc., Barneys will also sell they designed with Swarovski crys- “We only picked the cheery, up- tickets, priced at a suggested $100 tal elements. This transaction was arranged by Richard Baxter, beat aspects of the ’60s,not the over- each, for a custom Volkswagen Bee- But the retailers’ most difficult Jon Caplan, Yoron Cohen, Scott Latham, Jon Epstein, doses or assassinations,” cracked Si- tle painted with peace signs and role this season may be getting win- Charles Kingsley, Yoav Oelsner and Karen Wiedenmann mon Doonan, creative director at flowers. The proceeds will benefit dow gawkers to step inside the store of the New York Capital Markets Group. Barneys New York. the Carbon Fund to support a refor- and spend money. Bergdorf Good- estation project in the Lower Mis- man’s parent company, Neiman Collection of relics sissippi Alluvial Valley. According Marcus, posted a whopping 26.8% he explained that the hippie to Volkswagen,enough trees will be drop in same-store sales for the theme, which was originally going planted to make the car carbon- month of October, compared with to be called “Cool Yule,” has been a neutral for the vehicle’s useful life. the same period last year, and Saks year in the making. Meanwhile, the nearby Fifth Fifth Avenue suffered a same-store The windows include an over- Avenue windows of rival retailer sales decline of more than 16% for sized guitar, old newspaper head- Bergdorf Goodman feature “Calen- October.

36 | Crain’s New York Business | November 17, 2008 CNYB 11-17-08 A 37 11/13/2008 6:26 PM Page 1

BUSINESS LIVES CORPORATE LADDER Jodi Kahn, Rebecca Miskin Storming the iVillage New executive VP ment, Rebecca Miskin, who has spent the past year expanding iVil- PERSONNEL FILE and GM must lage U.K., was promoted to the new post of general manager of iVillage COMPANY iVillage Network re-establish lead Network, which comprises iVil- JODI KAHN (left) lage.com and sister sites like Astrol- for women’s site ogy.com and gURL.com. TITLE Executive vice president AGE 45 BY AMANDA FUNG “Sense of vision” REBECCA MISKIN ms. miskin, who is British, was hen it launched raised in Italy and just moved to TITLE General manager 13 years ago,iVil- New York. Responsible for editorial AGE 42 lage was the only content and product development, Web destination she says the expansion is “about devoted to bringing in a sense of vision.” firm eMarketer. “The fact that they women.Today,it’sW one of more than iVillage has struggled since be- found strong, polished women to a dozen such sites. ing acquired by NBC Universal for lead [iVillage] shows that NBCU is To regain its leadership position, $600 million two years ago. Moving committed to figuring out how to iVillage is counting on Jodi Kahn. its headquarters to Englewood, make it work.” The new executive vice president for N.J., resulted in the departure of a Ms.Kahn says her background as

overall strategy is expected to lure number of veteran employees, and a quadruplet will help her navigate buck ennis more visitors to the iVillage Net- attempts to boost traffic via such tel- the challenges. Among other work sites. evision properties as the Today show things, the native New Yorker was the right person for this gig,” Excite. Before joining iVillage U.K. Ms. Kahn joined the NBC Uni- were unsuccessful. NBC Universal shared a room with her two sisters says Lauren Zalaznick, president of last year, she took a break to co- versal subsidiary earlier this month, doesn’t disclose unit revenues but for 17 years. NBCU Women and Lifestyle En- found TheFabricShop.com, which replacing Deborah Fine, who had says that iVillage had 21.2 million During her 15 years at Time Inc., tertainment Networks, who also sells discounted material, with her moved to the Universal Television unique visitors in October, up 14% Ms. Kahn led Time Inc. Interactive now oversees iVillage Network. older brother, who still runs it. Group in August. from a year earlier. and spearheaded the integration of “She demonstrated passion and Both Ms. Kahn and Ms. Miskin “iVillage has a core group of loy- However, its largest rival, Glam those properties after the merger deep digital expertise.” “have amazing energy,” Ms. Za- alists,” says Ms. Kahn, most recent- Media, more than doubled traffic in with AOL—raising two kids at the laznick says. ly president of global digital media the period, mostly through acquisi- same time. Later, she built the digi- Strategic fabric They hope to enhance video and at the Reader’s Digest Association. tions, attracting 52 million unique tal business of Reader’s Digest from similarly, Ms. Miskin has an ex- community tools and make iVillage “My focus is to make iVillage a visitors in October. scratch and had been promoted to tensive background in developing the anchor for Women@NBCU, a strong growth business.” “It has been a long, bumpy road president of global digital media and revamping Web strategies for newly formed unit that includes She will have support. Simulta- for NBCU and iVillage,”says Debra when iVillage tapped her. British media companies, including iVillage, Bravo, Oxygen and other neous with Ms. Kahn’s appoint- Williamson, an analyst at research “We met twice, and I knew Jodi Reed Telemedia, IPC Media and women-oriented properties.

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November 17, 2008 | Crain’s New York Business | 37 CNYB 11-17-08 A 38 11/13/2008 6:09 PM Page 1

BUSINESS LIVES

EXECUTIVE MOVES

ACCOUNTING & CONSULTING officer at Naterra Land Inc. Levin Naftalis & Frankel. Amper Politziner & Mattia: Steven Mayer, Rockefeller & Co.: Felicia Yieh, 48, joined Eric Wise, 39, joined as partner. He HOT JOBS 49, joined as managing partner. He was as senior vice president. She previously previously was a partner at Kramer formerly executive managing director at was senior vice president and wealth Levin Naftalis & Frankel. RSM McGladrey. management strategist at Genspring Milbank Tweed Hadley & McCloy: Paul E. WANTED: GENERAL MANAGER Eisner: Craig Goodman, 56, was Family Offices. Denaro, 34, was promoted to partner promoted to partner from director. Wells Fargo Private Bank: Colin Koester, from associate. ORGANIZATION New York City Opera EnEssCo Strategies: Norman Steisel, 66, 38, joined as senior vice president and Patton Boggs: Richard E. Andersen, 51, joined as president and chief executive. senior private banker. He was formerly a joined as partner. He had been a partner JOB DESCRIPTION Rebuilding the troubled organization He was formerly executive vice president director at Deutsche Bank Private at Arnold & Porter. MOST IMPORTANT TASK Raising money to reduce the $15 million and chief operating officer at the Wealth Management. Proskauer Rose: Steven D. Hurd, 39, was deficit Philadelphia Stock Exchange. Zurich North America Commercial: promoted to partner from senior counsel. FTI Consulting Inc.: Mark Chertok, 52, Christopher Haarmann, 48, was Jennifer R. Scullion, 39, was promoted to CREDENTIALS NEEDED Strong fundraising skills, with a background in joined as senior managing director. He promoted to chief underwriting officer, partner from senior counsel. opera and an innovative artistic vision was an independent financial consultant. specialties business, from senior vice Reid E. Arstark, 34, was promoted to Lazar Levine & Felix: William J. Spiegel, president, global liability lines. senior counsel from associate. SALARY Paul Kellogg, the most recent GM, earned $386,000 in 2006, 42, joined as manager. He was formerly Amy Covert, 38, was promoted to senior according to tax filings HEALTH CARE chief financial officer at City Carting counsel from associate. RECRUITER Not yet chosen Holding Co. National Kidney Foundation Inc.: Bryan Schwartz Law Firm: Gil Michel-Garcia, N. Becker, 46, was promoted to president 39, joined as partner. He was formerly DOWNSIDE Worst fundraising environment in decades CONSUMER PRODUCTS from member of the board of directors. senior U.S. associate at Stikeman Elliott. Key Food Stores Co-Operative Inc.: Dean Sheppard Mullin Richter & Hampton: Joy UPSIDE Position is still considered a high-profile job in the arts world Janeway, 40, was promoted to chief HIGH TECH & NEW MEDIA Arnold, 48, joined as partner. She had The opera is reeling from Gérard Mortier’s decision a week ago to executive from senior director, Canoe Ventures: Vicki Lins, 44, joined as been a shareholder at Heller Ehrman. resign as head of the company before even starting the job full-time. advertising and retail services. chief marketing officer. She had been Bhavana Joneja, 35, joined as special Chosen in early 2007, Mr. Mortier, director of the Paris National senior vice president, marketing and counsel. She had been an associate at FINANCE & INSURANCE communications, at Comcast Spotlight. Heller Ehrman. Opera, was expected to take the reins in 2009. He quit after the Community Preservation Corp.: Ronald board cut his production budget to $36 million from $60 million in Schiferl, 52, joined as chief financial HOSPITALITY & TOURISM MEDIA & ENTERTAINMENT light of the economic downturn. —MIRIAM KREININ SOUCCAR officer. He had been chief operating Sea Grill: Jawn Chasteen, 37, was Sundance Channel: Mala Chapple, 39, promoted to executive chef from was promoted to vice president, original executive chef de cuisine. programming and production, from EXECUTIVE PROMOTIONS consultant for the channel. Crain’s lists the promotion and hiring of New York LAW area senior executives on a space-available basis, Gibson Dunn & Crutcher: David Feldman, REAL ESTATE SERVICES Kirk Palmer & Associates Inc.: Adelle with priority given to positions in New York City. 40, joined as partner. He had been a Vantage Properties: Elizabeth Holmes, 32, Axiom: Paul Carr, 39, joined as chief Kirk, 37, joined as vice president. The fastest way to get an announcement into partner at Kramer Levin Naftalis & joined as vice president, community operating officer, a new position. He was She was previously president of Crain’s is to submit details online by filling out the Frankel. relations. She was formerly government formerly general manager, international Kirk Strategic Services, which she form at www.crainsnewyork.com/submit. The Matthew Williams, 36, joined as partner. relations adviser at the Law Offices of insurance services business, at American founded. Executive Moves column is also available online. He was formerly a partner at Kramer Claudia Wagner. Express. —maia blume

38 | Crain’s New York Business | November 17, 2008 CNYB 11-17-08 A 39 11/13/2008 6:37 PM Page 1

BUSINESS LIVES TABLE TALK by Bob Lape Asian doesn’t translate well Three-tiered Pranna has a lot going on with its drinks and dishes; trying too hard?

mid the wealth of Honda Nighthawk 750, cruising architectural and de- the streets and winding roads of sign features of the Vietnam, Thailand and Cambodia. huge new Southeast He’s certainly revving up the sa- Asian restaurant Pran- tay concept with a dozen styles pre- Ana is a sculpted relief of a Sri Yantra. pared in the open-late Satay It’s a symbol of Lounge,a freestand- universal prosper- ing area adjacent to ity and well-being. the main dining Heaven knows we room. Great for can all use that. sharing, the nibbles Pranna is San- on a stick come two skrit for “breath of to an order ($5 to life.” The contem- $11) or four pairs for porary extravaganza $30. Four dipping

designed by Wid sauces are served buck ennis Chapman has been a with them. MOTORCYCLE DIARY: Chef Chai Trivedi harvested recipes for Pranna while biking through Vietnam, Thailand and Cambodia, the story goes. long time catching its Try the conven- breath. Now open, it PRANNA tional skewers of can accommodate 79 Madison Ave. chicken, pork, lamb a tandoor chicken with spinach- chilies vitiate the subtlety of blood born waiter twice and he was the 476 guests. Its first (at East 28th Street) or swordfish rather onion bhaji, disappeared from the oranges.Pastry chef Jehangir Mehta soul of accommodation except for lunch service is (212) 696-5700 than minced ver- menu between my first and second also offers a spiced hazelnut soufflé an inability to lower the background scheduled for today. www.prannarestaurant.com sions of either visits. Winning an “OK” mark are and a stone fruit goat cheese flat- music. Fit for a trance club and not Its palatial space ½ STAR shrimp or weird- seared diver scallops with tom yum, bread served with balsamic chili ice a nearly empty restaurant, the mo- is home to a number tasting beef in betel garbanzos and hazelnut purée. cream. notonous clangor could give diners of different environ- CUISINE Southeast Asian nut leaf. Tropical A trio of traditional sambals You are on your own with Pran- a headache. ments, three bars, fruit and vegetable served with onion-baked naan na’s wine list, assembled by wine WINES 45 choices, 14 by set-apart rooms and satays are simply bread is a case of three strikes and writer Alice Feiring, and composed areas for every kind the glass boring. out—none pleased the palate. of wines from environmentally re- of event or party. DRESS Smart casual There are small Spring rolls are characterized by sponsible vineyards and boutique The 15,000- NOISE LEVEL Lively bites ($4 to $7) for overcooked chicken in gummy producers. Theirs are anything but square-foot, trilevel noshing with 15 wrappers. household names. eatery on lower PRICE RANGE $24-$32 overworked cock- The most acceptable of entrées Does it strike you that everyone Madison Avenue is WINE MARKUP 50%-170% tails ($12). One ex- ($18 to $32) is stir-fried Javanese is trying too hard? No doubt about the brave new ven- ample is a drink pepper paneer with Napa cabbage, it. Moreover, this is an expensive ture of Long Island CREDIT CARDS All major called Silk Road, sugar snap peas and potatoes. destination, as well as a very large restaurateurs Rajiv RESERVATIONS Suggested blending Japanese Wok-seared Mayan prawns one. and Payal Sharma, single malt, Thai (three for $26) are succulent, but HOURS Lunch, Mon.-Fri., Pranna’s service crew is engaging owners of Maine basil leaves, lemon cumin-crusted hanger steak is star- and helpful. We had a Bulgarian- 11:30 a.m.-3:30 p.m.; Maid Inn and Sitar juice, calamansi tlingly flavor-free, and its jazzy ac- Restaurant. They Dinner, seven days, 5:30 honey and apple companiment of sprouted mung are partnered with p.m.-midnight; Satay Lounge, juice. A possible bean salad, candlenut and guajillo Ms.Sharma’s broth- seven days, 4 p.m.-2 a.m. pairing with cock- does not rise to the occasion. San er, chef Chai Trive- = Outstanding tails is rice needle Luam fried chicken, named for di, formerly of Sitar = Excellent noodles with crispy Bangkok’s night bazaar, will make in Huntington and = Very good tofu strings and you long for the Korean bon chon Sapa in Manhattan. = Good prickly ash soy. Just chicken. Passable, but undistin- As the story goes, too much is going on guished. chef Trivedi, a biker, in the drinks and Guava and blood orange sorbets harvested recipes for the Pranna much of the food as well. ring flavor bells, but sea salt is too menu during six months astride his The best of appetizers ($9 to $14), heavily dispersed in the guava, and

BEST OF BOB LAPE and Other restaurants with Southeast 286 Katonah Ave. (next to the post Festive India fame brings gently BUSINESS SPACE STORAGE Asian influences: office), Katonah, N.Y. tweaked Indian classics to a base- (914) 232-3900. A colorful and ap- ment location at bargain basement • Private Conference Room Rental for up to 50 Guests Buddakan pealing pan-Asian attraction serv- prices. $10.95 buffet lunch! • Newly Renovated Business Space www.buddakannyc.com ing hefty portions of delicious food • Internet and Telephone Accessibility 75 Ninth Ave. (between West 15th with style, and big drinks. Talay • Short- and Long-Term Rentals with Ideal Rates and West 16th streets), Manhattan. www.talayrestaurant.com • Upper East Side Location, Secure and Discreet (212) 989-6699. A must-see Asian Spice Fusion 701 W. 135th St. (at 12th Avenue), showplace with far better mod food Indian Bistro Manhattan. (212) 491-8303.Yet and service than one would expect www.myspicefusion.com another duplex hospitality new- at such a white-hot eatery. 777 Eighth Ave. (between West comer to West Harlem, this one 305 E. 61st Street 444 W. 55th Street 47th and West 48th streets), Man- with a Thai-Latin beat, two talent- New York, NY 10065 New York, NY 10019 www.cirkerhayes.com Tengda Asian Bistro hattan. (212) 777-8100. Chef Walter ed chefs and an engaging service 212.838.2525 212.484.0200 Email: [email protected] www.tengdaasianbistro.com D’Rozario of Bay Leaf and Utsav crew.

November 17, 2008 | Crain’s New York Business | 39 CN012445 10/15/08 10:32 AM Page 1

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