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TOP STORIES TABLE TALK Plaza plans Gilt complex: Lape a pool, finds 4-star site rushes for PAGE 39 fall opening PAGE 2 ® Chill in the bond market makes life tough for buyers VOL. XXIII, NO. 22 WWW.NEWYORKBUSINESS.COM MAY 28-JUNE 3, 2007 PRICE: $3.00 of office buildings PAGE 3 WATER COMMUTES Chris Rock’s mom More flights, shops a book. He’ll write the foreword NY opening way NEW YORK, NEW YORK, P. 6 more delays Tempers flare over for ferries congestion pricing as mayor plots Firms compete for East River at airports Albany strategy contract as City Hall looks But developments on the THE INSIDER, PAGE 14 New schedules, ground won’t be able to keep up, to future population boom facilities won’t be not this summer anyway. At the Most profitable big area’s busiest airport, John F. companies; Crain’s BY ANNE MICHAUD enough to keep up Kennedy International, American top public firms list with passengers Airlines has just opened its new traveling up the east river from Wall Street on a sun- terminal, but the 1.6 million- BIGGEST COMPANIES, P. 19 ny spring morning, the skipper of the NY Waterway ferry square-foot facility will not be ful- BY HILARY POTKEWITZ ly operational until the winter.The calls out the time it takes to reach each of its destinations. new terminal being built by JetBlue BUSINESS LIVES “Eight minutes,” he reports as the ferry passes Queens West, just eight months after the Fed- Airways,the airport’s busiest carri- a proposed riverfront housing development. eral Aviation Administration la- er, will not open until next year. TACKLING “Eleven minutes,” he says at Roosevelt Island.Then he hits beled last summer’s flight delays “In the short term,we’ll need to A MAN’S GAME the 20-minute mark as the Peter Weiss passes Randall’s Island. “the worst in history,” all do the best we can with the Women put on The trip illustrates a prospective East River commute for indications point to this resources we have,” says the pads and find summer being even Anthony Shorris, execu- camaraderie, thousands of New Yorkers that could finally be realized af- 43M ter city government awards a ferry service contract in the worse—especially in hy- NUMBER tive director of airports for competition per-congested New York. of travelers the Port Authority. on the field next few weeks. Waterway, one of the bidders, is eager to The Port Authority of passing Flight delays are up 6% PAGE 35 through JFK capitalize on the waterfront population boom forecast by the New York and New Jersey Airport last year to 10% at the city’s airports Bloomberg administration: 27,500 new housing units in anticipates a 4.6% rise in so far this year, with JFK northern Brooklyn and western Queens by 2013. passenger volumes over last sum- being hardest hit. The airport re- The city solicited bids for the East River service eight mer at the metro area’s three air- ported 34% of flights delayed, months ago, and the project languished unaccountably— ports. All told, the agency expects compared with 24% a year ago. until now. With Mayor Michael Bloomberg’s release of to see an additional 8,900 flights, Nationally,delays are up 4 percent- PlaNYC 2030 and his edict that New York prepare for 1.2 million more passengers and age points, and that’s before peak AT DEADLINE four new airlines this summer. See MORE FLIGHTS on Page 10 See FERRIES on Page 8 THE ART INDUSTRY CONTRIBUTED $21.2 billion in 2005 to the New York City economy, a 61% jump since Potter’s wizardry 1993, according to a new study by the Alliance for the Arts. The sector—film businesses, a puff of smoke Broadway producers and nonprofit cultural institutions, among others—created more Final book in series than 160,000 jobs and contributed $904 million in will boost sales; can local tax revenues. A record Scholastic follow up? $5.4 billion in income was generated by 7.5 million visitors who came to the city BY MATTHEW FLAMM expressly for a cultural purpose. whoever gets killed off by the end of Harry Potter and the Death- NEW YORK COULD SEE AN ly Hallows, one thing is certain EXPANSION of airline service to about the seventh and final install- China under a trade deal ment of the blockbuster series: J.K. reached last week in Rawlings’ bookselling phenome- Washington. China and U.S. non will go out with a bang, not a See AT DEADLINE on Page 2 whimper.

buck ennis Scholastic is printing 12 million copies of the book—which lands in

22 stores one week after the movie HALLOWS will start with 12 million copies.

5 COMINGNEXT WEEK version of Harry Potter and the Or- Three homegrown chains that thrive in der of the Phoenix is released in the- New York highlight Crain’s first RETAIL aters, sparking paperback sales of bookstores at 12:01 on the morn- ELECTRONIC EDITION REPORT. Also, luxury apartment that title. ing of July 21, not everyone is buildings chase the upscale stores. But while costume parties are celebrating.

NEWSPAPER welcoming the teenage wizard into See POTTER on Page 8 71486 01068 0 CNYB 05-28-07 A 2 5/25/2007 6:58 PM Page 1

AT DEADLINE

Continued from Page 1 ended the station’s experiment government negotiators agreed as all-talk Free FM last to increase the number of Thursday, and began playing passenger flights between the rock songs from the 1990s to two countries—including an the present. “It was a very smart additional nonstop flight slated move,” says Richard Cotter, to start by August. Continental director of local broadcast for Airlines will again bid for a Mindshare. “The young male Newark to Shanghai nonstop audience that’s into the music for which it had lobbied hard it’s going to play is not being but failed to win in April. served by current stations.”

THE COCA-COLA CO. SAYS THAT IT THE ECONOMIC DEVELOPMENT WILL RETAIN Glacéau Chief CORP. IS SETTING UP one-on-one Executive and founder J. Darius meetings with Willets Point, Bikoff and other top executives Queens, business owners after for at least three years following they complained they were its announcement Friday that it being ignored as the Bloomberg will acquire the maker of administration proceeds with FASTER, FASTER: Vitaminwater for $4.1 billion. the redevelopment process of “I wish we could Glacéau will continue to operate the industrial area (Crain’s,May work 24/7,” says from its Whitestone, Queens, 21).The city plans housing, a Miki Naftali, headquarters. convention center, stores, a hotel president of Elad and green space for the 66-acre Properties. RESIDENTIAL CONSTRUCTION IN site and will relocate businesses, NEW YORK CITY in the first four using eminent domain if months of 2007 surpassed the necessary, to make room. levinekarjean level of activity in the comparable period last year, EPIC RECORDS IS CONSIDERING according to the Census Bureau. STARTING A DIVISION to generate A total of 10,073 units were business beyond recorded music permitted, compared with 9,741 sales, according to a company Waiting on the Plaza units in 2006. In the broader executive.The department metropolitan region, excluding would focus on deals related to the city, permitted units licensing and merchandising, as Crews work overtime to meet October deadline declined 32% to 6,723. well as entertainment ventures such as its new arrangement BY LISA FICKENSCHER THE RETURN OF K-ROCK AND with Jennifer Lopez to create a ROCK MUSIC TO 92.3 FM is miniseries for Univision. Epic is for the first time in its 100-year history, the Plaza Hotel will have a swimming pool getting a mostly good reception a unit of Sony BMG Music when it reopens later this year—fewer than 20 hotels in the city have one.The landmark from media buyers. CBS Radio Entertainment. I building will also boast a private courtyard garden with a reflective pool and fountain. But right now, a dingy tar roof occupies the space where the courtyard area will be. And the CORRECTIONS lap pool two levels below the Fifth Avenue lobby exists only on paper. The city’s Economic Development Corp. in February invited developers to respond to a request for proposals for the redevelopment of Willets Point, Queens. Mayor Michael Bloomberg Elad Properties, which bought the Plaza in 2004 for $675 million, is converting it into formally announced the plan in May. The source of these announcements was misstated in condos and a small hotel.Transforming the run-down building into a state-of-the-art luxury the May 21 “Neighborhood Journal” column. The story also should have noted that the project will include 5.5 million square feet of housing as well as a convention center, hotel and retail See WAITING on Page 8 complex. Public Service Enterprise Group Inc. was the subject of the May 21 “In the Markets” story. The company’s name was misstated.

THIS WEEK IN CRAIN’S Microsoft snaps up digital

ALAIR TOWNSEND ------13 Uniting software king’s MICRO-ECONOMICS THE INSIDER------14 products, Avenue A’s U.S. online advertising revenues, in millions of dollars. NEIGHBORHOOD online ad savvy could 2004 2005 2006 20071 JOURNAL------expand both brands 15 Google $1,264 $2,410 $4,095 $6,265 WEEK IN REVIEW ------16 Yahoo $1,776 $2,439 $2,996 $3,641 BY AMANDA FUNG SMALL BUSINESS ------17 AOL $655 $905 $1,235 $1,772 2 microsoft corp.’s acquisition of a MSN $906 $979 $1,092 $1,318 37 REAL ESTATE DEALS------18 digital ad company will give the Red- 1-Estimates. 2-Now known as Microsoft Online Services Business. Source: eMarketer REPORT: BIGGEST mond,Wash.,corporation an impor- tant outpost in New York City. PUBLIC COMPANIES ------19 Earlier this month, the software for its clients on various Web sites, critical to its future growth. CLASSIFIEDS ------32 company announced the purchase giving it the longtime Madison Av- The acquisition of aQuantive of Seattle-based aQuantive Inc. for enue relationships that Microsoft gives Microsoft something that on- THE WEEKS AHEAD ------34 $6 billion, its largest acquisition has failed to establish. line ad leader Google Inc. doesn’t ever. Microsoft will inherit a Thanks to Microsoft’s new will- have: an interactive agency that can BUSINESS LIVES------35 tremendous presence in Gotham ingness to open its wallet to bolster provide insights into how the com- CORPORATE LADDER------37 through Avenue A|Razorfish, its struggling online advertising pany can alter its products and tech- aQuantive’s interactive ad agency, business, Avenue A will have access nologies to better serve advertisers. EXECUTIVE MOVES------38 when the purchase closes later this to cash and other resources to ex- 39 Revenue bump BOB LAPE ------39 year. pand. The software maker plans to “The deal is a big game-chang- invest close to $2 billion this year to avenue a accounts for about 60% of vol. xxiii, no. 22, may 28, 2007—Crain’s New York Business (issn 8756-789x) is published weekly by Crain Communications Inc., 711 Third Ave., New York, NY 10017. Periodicals er,”says Bob Lord,East region pres- shore up its online services. aQuantive revenues; the rest comes postage paid at New York, N.Y. and additional mailing offices. Postmaster: Send address ident of Avenue A. Online services now represent from its ad serving and performance changes to: Crain’s New York Business, Circulation Department, 1155 Gratiot Avenue, Detroit, MI 48207-2912. for subscriber service: Call (888) 909-9111. Fax (313) 446-6777.$3.00 a The agency’s Manhattan loca- only 5% of Microsoft’s revenues— technologies. Revenues were up copy, $59.79 one year, $109.79 two years. (GST No. 13676-0444-RT) ©Entire contents tion is the largest of its 16 global of- expected to top $55 billion in the 77.6% last year, to $267.6 million. copyright 2007 by Crain Communications Inc. All rights reserved. fices. Avenue A focuses on Internet fiscal year ending in June 2008—but The agency’s creative team and brand development and buys space management considers the business technicians will have early access to

2 | Crain’s New York Business | May 28, 2007 CNYB 05-28-07 A 3 5/25/2007 7:01 PM Page 1

Building Graham rebounds prices at Famed troupe turns CENTER STAGE: The company now offers COMING UP corner, pays down diversified touring TWO EXCERPTS programs. June from Ms. debt; unknown 1-3 Graham’s Chronicle, her ceiling? response to fascism, will contributor helps be performed outside the New York Stock Exchange. Tight loan terms may BY MIRIAM KREININ SOUCCAR Sept. THREE CHOREOGRAPHERS put lid on record- 11-23 will create dances in at lunchtime on Friday, Wall response to Ms. Graham’s setting office sales Street workers will be treated to a famous solo work Lamentation, a spectacular sight.The Martha Gra- portrait of a grieving woman. ham Dance Company will take over BY JULIE SATOW

the street in front of the New York ap images Stock Exchange for the first of three when landlord aby rosen an- days of performances kicking off the like the Sterling Clark Foundation turnaround by thinking smaller. hotel expenses. “We don’t tour at a nounced in March that he was ac- annual River to River Festival. plan to return to the fold. Graham is She cut the annual operating budg- loss anymore,” Ms. Allen says. quiring seven office buildings in Just a year ago, it was question- also developing a two-week New et 36%, to $3.2 million, and the Stamford, Conn., from The Black- able that Graham could even con- York season honoring its 80th an- number of full-time dancers to 15 An anonymous benefactor stone Group for $830 million,he ex- tinue to exist. niversary,scheduled to open Sept.11 from 20. but the survival plan couldn’t pected to have no difficulty financ- The 80-year-old group—one of at the Joyce Theater. Instead of performing at prime have worked without contributions. ing the purchase. But that was then. the nation’s most-celebrated dance “There’s still a lot that needs to venues like City Center—a hard Last year, Ms. Allen received an In the past 30 days, many banks troupes—was bleeding with a $5 get done, and there’s still some debt place for any dance company to turn anonymous check for $228,000 that that lent landlords billions of dollars million deficit. Vendors were to pay,”Ms.Allen says.“But consid- a profit, as it rents for $200,000 a she used to settle the bill with ven- for commercial mortgages during threatening legal action, half of the ering where we were last year, it’s a week—Graham put on three dors. the boom market of recent years trustees had quit the board, and the miracle.” downscaled performances last year Additionally, seven current and have shut their doors.Those that are organization was down to a single Graham’s troubles began with at the Guggenheim Museum, the former board members forgave still making deals are requiring more paid staffer. Perhaps worst of all, it the death of its founder 16 years New York Public Library for the loans they had made to Graham. equity,charging higher interest rates had to forgo a New York season. ago. After a bumpy decade, the Performing Arts at Lincoln Center Foundations and corporate and factoring in faster amortization “For anyone who knew the true company was forced to stop operat- and the 92nd Street Y.The Joyce is donors are willing to take a chance in the loans they approve. With the depths of their financial problems, ing from 2001 to 2003 because of a charging rent of just $44,000 for the again. price of debt rising, borrowers may it looked like they may not make it,” costly legal battle with Ms. Gra- entire two weeks. Ms. Ayers says she will look “fa- no longer be able to afford record- says Margaret Ayers, executive di- ham’s heir, Ron Protas, over the To boost earned income, a vorably” on future grant proposals shattering prices for office towers. rector of the Robert Sterling Clark rights to her dances. pared-down domestic touring pro- from Graham.Ted Bartwink, exec- Mr. Rosen’s company, RFR Foundation, one of the longtime gram called Essential Graham was utive director of the Harkness Holding, which owns Lever House Graham contributors that stopped Costly mistakes after relaunch developed for presenters that can’t Foundation for Dance, is likely to and the Seagram Building, is now making donations. “They have re- followingthe troupe’s relaunch in afford the entire troupe and full provide help as well. finding itself scrambling to come up ally turned a corner.” 2003, its managers made a series of sets. Graham charges fees starting “The fact that they are close to with a financing package. A new executive director, LaRue costly mistakes.The biggest: a two- at $16,000 per performance and has erasing the deficit is a very big plus,” “Everyone now has to put more Allen, has led the comeback. The week run at the New York City Cen- already booked about 10 for fall. Mr. Bartwink says. “We’re going to equity into a deal than before,” says deficit has been reduced to ter that, while critically acclaimed, On the flip side, the company try to do something to help with the President Jason Brown. “No matter $650,000. Ms. Allen has helped re- turned out to be a financial disaster. raised rates in Europe, where it has Joyce season.” what your track record, more equity cruitfive new trustees to build an 11- Ms. Allen, working with Artis- been touring extensively. It now is required as debt financing has member board, and former backers tic Director Janet Eilber, began the commands $140,000 a week, plus COMMENTS? [email protected] See OFFICE on Page 9

BY THE NUMBERS ad agency’s street smarts REACH OUT AND FEEL THE GREEN and insight into Microsoft prod- are devoted to selling software to ceiving more inquiries from job it’s spring, and most city dwellers are heading outside. Data from ucts,which it can then use to test ad- businesses;200 are sales and support seekers since the acquisition was State of New York City’s Housing and Neighborhoods, a wide- vertising campaigns. staffers within its online services announced. ranging factbook by NYU’s Furman Center, quantifies open space. The new products will also help business. So far, all indications from Mi- ACRES OF OPEN Avenue A improve its research on Since the deal with Microsoft crosoft are that it will be a hands-off SPACE1 4,422 how consumers interact with new will give Avenue A more access to overseer of the ad agency.Microsoft media, and then figure out how ads cash, the agency will be able to hire executives dismiss speculation that ACRES/1,000 should be delivered. they will spin off Avenue A, saying RESIDENTS 3.2 “Before, the ideas were there, but Microsoft will that the agency will remain an inde- not always the technology,”says Mr. pendent entity within the online CITYWIDE Lord.“This acquisition will allow us invest $2B to services business. to do more innovation and creative 23,074 work.” Valuable asset The bulk of Avenue A’s revenues bolster its online avenue a is expected to give the are generated by the New York of- straitlaced, sales-oriented software 2.8 2,374 fice,which is located at 1440 Broad- servicesbusiness company a jolt of creativity and put way—Google’s former advertising it in front of advertisers—valuable 1.5 5,935 hub. It has 370 media planners and assets as Microsoft struggles to cap- buyers, search experts, creative pro- ture a bigger share of the rapidly ex- fessionals and other digital media panding $20 billion digital advertis- 2.6 specialists. more people in the New York office, ing market. The New York City staff, which which is already expanding. “Avenue A will help Microsoft represents 22% of Avenue A’s Agency executives expect to take stay in touch with what marketers 4,770 worldwide head count, boasts blue- over another 20,000 square feet of want,” says Jeff Dachis, a senior chip clients such as Ford, Condé office space next month. They plan partner of digital consulting firm 1.9 Nast, Starwood Hotels and May- to beef up their creative,search mar- Bond Art and Science, who co- 5,573 belline. keting and digital media planning founded Razorfish Inc., the Silicon With the acquisition, Mi- teams, says Mr. Lord. Alley firm that is now part of 11.7 crosoft’s New York staff will grow The company’s new ties to the aQuantive. 1-Open space includes parks, sitting areas, beaches, playgrounds, community gardens, outdoor sports facilities more than 70%.Most of its 500-plus Microsoft brand will help recruit- and Greenstreets. Source: NYU’s Furman Center for Real Estate and Urban Policy employees in midtown Manhattan ing efforts, he says. Avenue A is re- COMMENTS? [email protected]

May 28, 2007 | Crain’s New York Business | 3 CNYB 05-28-07 A 4 5/25/2007 7:11 PM Page 1

IN THE MARKETS HIGHLIGHTS REEL Lagging Bear Stearns -0.2% The faces prime challenges Bloomberg/ Crain’s New

➡ York Index gives the stock a “market perform” rating. 50%. Those margins are under threat as fell 0.2%, to Hedge fund, mortgage Things were about as good as they get lawsuits from investors in failed hedge end the businesses show strains; for Bear last year, when it generated $2.1 funds mount. Earlier this year, a bank- week at billion of net income, ruptcy judge allowed 394. The time to cash in profits or $14.27 a share, on investors in one such S&P 500 revenue of $16.6 bil- fund to recover $141 Index fell lion. That marked a million from Bear,and 0.5%, BY AARON ELSTEIN whopping 38% in- just last week investors closing at 1516. crease over per-share in another fund sued n recent years, Bear Stearns income of $10.31 on prime broker UBS. Cos. has happily toiled in some of revenue of $11.6 bil- “This comfortable Wall Street’s most lucrative but ob- lion in 2005. Analysts world is breaking scure precincts, such as trading surveyed by Reuters down,” wrote Sanford mortgage-backed securities and Fundamentals expect C. Bernstein & Co. RISERS Icatering to the needs of hedge funds. earnings growth to analyst Brad Hintz in 5-DAY 1-MONTH 3-MONTH CLOSING But the outlook for middlemen like slow to 4% this year. a report last week. % CHANGE % CHANGE % CHANGE PRICE Bear in both those businesses has The drop-off in In an effort to Children’s Place +7.7% +4.9% -2.9% $55.18 dimmed in recent weeks, and the firm’s housing will leave cushion against a soft shares are down 10% this year—the worst Bear with fewer mort- mortgage and prime Avis Budget+6.3% +2.7% +9.7% $30.06 performance among big investment gages to package into brokerage market, Sirius Satellite +6.2% +2.5% -22.5% $2.90 banks. While the famously aggressive securities and trade. Bear agreed last week Market cap $21 billion Marsh & McLennan +5.9% +3.4% +11.1% $33.13 outfit is quickly beefing up other areas, And while Bear insists to buy power-generat- Ann Taylor Stores +4.9% +1.2% +8.9% $38.54 including energy trading, analysts warn that only a tiny per- 52-week price change 11% ing assets from the that the changes are pushing Bear into centage of its mort- Return on equity 17% Williams Cos. for uncharted and dangerous territory. gages are of the trou- $512 million. That SINKERS With the stock up 140% in the past bled subprime, or move should make it a 5-DAY 1-MONTH 3-MONTH CLOSING five years—more than any of its peers ex- Alt-A, variety, in- big player in natural- % CHANGE % CHANGE % CHANGE PRICE cept Goldman Sachs—now is a good vestors are nervous that the firm could yet gas trading, but Mr. Bove says that Bear New York & Co. -8.2% -15.2% -24.2% $11.97 time for investors to put their money on a get stuck with big losses. has committed itself to bets that make it Monster Worldwide -6.9% +8.2% -10.9% $46.63 different horse in the investment banking Another concern is that the firm pro- vulnerable to volatile energy markets. sweepstakes. vides trading and other services to hedge Taking on more risk could be a chal- PSEG -6.3% -4.6% +15.0% $46.63 “This firm is in the midst of a big funds, a business known as prime broker- lenge for Bear, which lacks the huge cap- Con Edison -5.6% -8.6% -2.4% $48.12 change in strategy that involves taking a age. Bear is a major player, along with ital cushion of its big rivals. Foot Locker -4.5% -11.8% -9.1% $21.06 lot more risk than before,” says Punk Goldman and Morgan Stanley, and en- Ziegel & Co. analyst Dick Bove, who joys profit margins of approximately COMMENTS? [email protected]

STOCKS TO WATCH by Erik Ipsen One Floor Left – 25,324 sf Shareholders of outsourcing titan are Cognizant of limits to growth ONE OF THE TOP STOCKS of the last decade has lost its luster. In the past three months, shares of tech services outsourcer Cognizant have slipped nearly 20%. Blame its plans to slow the explosive growth in hiring, as well as the rise in Indian wages and the rupee. Profits should soar this year, just not as much as last. Longtime shareholders still have heaps to be grateful for. Cognizant went public in 1998 at under a dollar a share. WWW.11WEST19STREET.COM CHELSEA • FLATIRON • UNION SQUARE Wall Street has fixated for years on the rapid loss of landline customers and soaring capital spending at Verizon. But now the talk is of an unending wireless bonanza and a looming earnings gusher from Internet and video • 25,324 sf FOR LEASING INFORMATION services. The shares are up 13% this year and a whopping 42% over the past PLEASE CONTACT: 12 months. Maybe shareholders, who recently voted themselves more power over executive salary, will think twice about any cuts. • Full floor identity Michael Kaufman In a rare performance, the New York 212-471-4320 Times Co.—known as the Gray Lady— • Newly renovated lobby [email protected] not only danced last week but was briefly the toast of the media party. • NBI for qualified Tenants Grant Greenspan The shares rose 2% and are up 6% for 212-471-4340 the last month. Credit a J.P. Morgan • Close Proximity to Transportation [email protected] analyst who said that the Times’ ad revenues should hold up better than those of many papers and talked of possible share buybacks. Being dirt THE KAUFMAN ORGANIZATION cheap also helps. The stock trades at WWW.KAUFMANORGANIZATION.COM half its levels of five years ago. charts: tabones gerardo

4 | Crain’s New York Business | May 28, 2007 Project4 5/22/07 12:34 PM Page 1

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BUSINESS BREAKFAST FORUM

MEET THE MTA’S NEW EXECUTIVE DIRECTOR & CEO NEW YORK,NEW YORK Elliot G. Sander, Executive Director and CEO of the MTA, will share his experiences since edited by Valerie Block being appointed to run the country's largest mass transit system earlier this year. Elliot “Lee” Sander Sander will discuss some recent major accomplishments, longstanding challenges and the agency's looming operating deficit. He will be questioned by Crain's editor Greg David and another journalist. Celebs’ mothers get into the book act hris rock’s mom wants to let you know a thing or two about raising children. Rose Rock, mother of the movie star and DATE: JUNE 5, 2007 standup comic, was visiting publishers last week to pitch a PLACE: HILTON NEW YORK C parenting book: Mama Rock Rules:Ten Lessons for Raising Ten (or Less) 1335 Ave. of the Americas Successful Children. TIME: Networking Breakfast 8:00–8:30 a.m. Television viewers have gotten a glimpse of the Rock family in the Program 8:30–9:30 a.m. sitcom Everybody Hates Chris. In real life, Ms. Rock did indeed raise 10 kids—not the three on the show—including one stepson and two girls the family took in. COST TO ATTEND: Chris, her oldest child (right), will write the foreword for the book. $60 for individual ticket(s) $600 for table(s) of ten Publishers have been enthusiastic, says Ms. Rock’s agent,Trident if pre-registered by May 29th if pre-registered by May 29th Media Group’s Melissa Flashman, who plans to auction the title this $70 thereafter. $700 thereafter. week. “She’s of the tough-love school,” says Ms. Flashman. “People (American Express, Visa or MasterCard only) are responding to that now.” getty images To register go to newyorkbusiness.com and click on “Events,” or fax Another celebrity mom was also making the rounds last week. Carolyn London-Johnson your business card and credit card information to “MTA Breakfast” at Tyra Banks 212-210-0499. and her daughter, (below), were shopping a book about the mother- daughter bond. YOU MUST BE PRE-REGISTERED TO ATTEND THESE EVENTS. Publishers were so eager to work with the runway model turned ALL TICKETS ARE NON-REFUNDABLE. FOR MORE INFORMATION, CALL THE EVENTS HOTLINE AT 212-210-0739. television diva that bidding quickly rose into the seven figures.

SPONSORED BY: Strangely, Ms. Banks changed her mind and pulled out of the project late Friday, according to an industry source. Richard Abate, Ms. Banks’ agent, could not be reached.

particular, the congestion pricing $120 million in assets, but he uses Olympic hopefuls part—to get state approval. a bicycle to get to his Chinatown take spotlight To that end, he’s agreed to office. He also heads The Open match up to $250,000 in Planning Project, a nonprofit he last year, New York won the bid donations to anticar group launched to reduce traffic in cities. to host the 2008 U.S. Olympic Transportation Alternatives.The Team trials for the men’s funds will help bankroll an marathon. Now, the New York organizing and marketing Less confrontation Road Runners club, which is campaign pushing fees for vehicles in the kitchen producing the 26-mile race, plans entering Manhattan below 86th to give it national television Street. It’ll be a tough sell. A sasha muniak has a thing for Long established exposure for the first time. Quinnipiac poll released last week women. Well, women chefs, that is. The event takes place Nov. 3, found that 56% of New Yorkers In a city where female executive commitment the day before the ING New York oppose congestion pricing. chefs number around 25, Mr. City Marathon, in what NYRR is The TA campaign will target Muniak is doing his part to Weiser LLP dubbing a doubleheader weekend. areas such as southeastern Queens increase the odds. At his six Certified Public Accountants The club persuaded The Today and southern Brooklyn, where restaurants, all the top toques are Show to televise the start of the opposition to the mayor’s women. race at Rockefeller Center, at 50th proposed plan is strongest. In its When his Centro Vinoteca Street. NBCSports.com will first week, the fund-raising drive restaurant opens next month at continue covering the competition pulled in $150,000, which 74 Seventh Ave. South, Anne to the via a live Web stream as the includes $75,000 from Mr. Burrell will head up the kitchen. New York City New York runners loop through Central Gorton’s match, says TA’s Last year, he hired Sara Jenkins 135 West 50th Street Paul Steely White New York, NY 10020 business community Park several times. A 30-minute executive director, . to be executive chef for his Mangia Tel 212.812.7000 highlight show will air on NBC Mr. Gorton’s Lime Group chain of four quick-service eateries Fax 212.375.6888 For nearly a century,Weiser has provided later that day, before the network’s includes a hedge fund with nearly and catering shops. Long Island accounting, tax, and consulting services, such broadcast of a Notre Dame Two years ago, when he 3000 Marcus Avenue as state and local tax planning, internal audit football game. opened Gusto, he tapped Jody Lake Success, NY 11042 outsourcing, and business restructuring, “It’s a chance to put these IT’S A DOG’S LIFE Williams, who was replaced by Tel 516.488.1200 to private clients and business enterprises, athletes front and center,” says Amanda Freitag last fall. Fax 516.488.1238 Mary Wittenberg, chief executive of NEW YORK RANKS high on the list of It’s more than their including closely-held and emerging entities, best places for dog lovers to vacation, Westchester in a variety of industries including: NYRR. Of the 150 or so runners cooking skills—the chefs 660 White Plains Road trying out, only the top three will according to DogFriendly.com’s annual were all trained in Italy—that Suite 430 • Real estate go to the 2008 Beijing Olympics. survey. Local hotels that accept man’s attracts Mr. Muniak to the Tarrytown, NY 10591 • Manufacturing and distribution best friend include the Renaissance opposite sex. “What we’ve Tel 914.333.0555 • Auto dealerships New York and the Soho Grand. Out- Fax 914.333.0556 found consistently with all of • Media and communication E-mogul funding door cafés welcoming four-legged pals the women we’ve hired is that New Jersey • Banking include Barking Dog Luncheonette and they are less confrontational 399 Thornall Street • Food and dairy fight against cars Edison, NJ 08837 the West 79th Street Boat Basin Café. in the kitchen and take a • Health care the king of Internet file-sharing The top North American towns are: mentoring approach” to Tel 732.549.2800 • Financial services Fax 732.549.2898 is sharing a chunk of his cash as management, says George • Professional services well. Mark Gorton, whose 1. Boston Elkins, vice president of www.weiserLLP.com • Not-for-Profit company’s LimeWire software is 2. Vancouver, British Columbia Mangia Hospitality Group. used by 50 million freeloaders per For more information, contact Douglas Phillips at 212.375.6701. month, wants Mayor Michael 3. New York Contributors: Erik Engquist, Bloomberg’s PlaNYC 2030—in Lisa Fickenscher, Matthew Flamm

6 | Crain’s New York Business | May 28, 2007 Project5 5/21/07 3:22 PM Page 1 CNYB 05-28-07 A 8 5/25/2007 6:33 PM Page 1

quickly. “I wish we could work French-style chateau,” Mr. Naftali Plaza, according to Patrick Lappin, 24/7,” says Miki Naftali, president says. executive vice president and general Waiting on the Plaza of Elad Properties. As the developers focus on selling manager of the Hampshire House. The most difficult part of the re- the 152 hotel condo units, which In April, Elad sent a letter to fu- Continued from Page 2 lion, which would make it the city’s construction is the interior court- face East 58th Street or the interior, ture tenants, laying out a closing- property is one of the most compli- most expensive condo.) yard, which is testing even seasoned the courtyard sweetens the deal by date schedule in which some people cated jobs that Tishman Construc- But an enormous amount of engineers. providing a view. Owners of these would have access to their apart- tion Corp. has undertaken, a work still needs to be done. Some “It’s probably the most challeng- units,which are going for as much as ments earlier than others. The buy- spokesman for the contractor says— people close to the project are skep- ing aspect of the project,” says a $5.8 million,must agree to rent them ers with later time frames com- and not just because the makeover has tical about accommodating the spokesman for Tishman. It has in- as hotel rooms for 245 days a year. plained and asked to be reassigned so captivated the public, putting every schedule, as large swaths of the one stalled more than 165 tons of steel About 20% of them have been sold, that their architects and interior de- facet of the job under a microscope. million-square-foot building re- trusses to withstand the weight of according to an Elad spokesman. signers could begin work, Elad says. The difficulty of completing the main gutted, and steel frames out- the courtyard, which is being built Despite the potential for delay, To help owners understand the now 24-month-long job is com- line where walls will be erected. two floors above the Palm Court. Elizabeth Lorenzo,associate broker schedule, the firm plans to send an- pounded by an accelerated work About two months ago, the 650 for Stribling Marketing Associates, other letter. pace. The Plaza’s centennial is in construction workers at the site be- Paris inspiration which is handling the Plaza condo “It will explain that your neigh- October,and Elad is eager to reopen gan putting in overtime.They are on elad is spending up to $20 million sales, says closing dates “are not that bors will be doing work [to their it then with a dazzling party. the job six days a weeks 10 hours a on the courtyard. The inspiration far off the mark” of projections. apartments], and there will contin- Most of the 181 residential con- day. Elad’s renovation budget, orig- comes from Paris,where some of the Most of the residential condo ue to be construction in the building dos have been sold,and Elad intends inally $350 million, is already north finest properties—in particular the buyers already live in posh Manhat- as other floors are being brought up for some of the buyers to move in as of $400 million. Hôtel Plaza Athénée—have interi- tan buildings. At least one resident to speed,” the spokesman says. early as this summer. (One unit was The developer would like con- or gardens. of the nearby Hampshire House, on reported to have gone for $56 mil- struction to proceed even more “The Plaza Hotel is really a Central Park South,is moving to the COMMENTS? [email protected]

Potter’s wizardry a puff of smoke PRAYING FOR HALO EFFECT WITH BORDERS AND BARNES & NOBLE selling the next Harry Potter at 40% off, Continued from Page 1 next fiscal year,when no Potter book $2.3 billion. leaving a razor-thin profit margin, the retailers’ only hope for making money is Barnes & Noble said last week appeared. “The company’s fixed costs are from the “halo effect” that comes with increased traffic. “Almost every other that sales of Harry Potter books Using the same methodology, too high, and there is concern that category in the store gets a lift [when Potter goes on sale],” says Diane won’t keep it from missing fiscal sec- when Harry Potter and the Half- targeted rates of revenue growth are Mangan, director of children’s merchandising at Borders. ond-quarter earnings estimates, Blood Prince came out in fiscal 2006, unsustainable,” says John Puchalla, But some experts think the halo effect is overrated. “People buy the book owing to the steep discounts on the earnings plunged 30%; Mr. Crum a media analyst at Moody’s In- and leave,” says Albert Greco, a Fordham business professor and analyst for title that have become a traditional estimates they’ll be up 26% in fiscal vestors Service, which downgraded the Book Industry Study Group. He points to Census Bureau retail surveys part of Harry Potter fever. 2007, which ends May 31. He as- Scholastic’s debt rating to a “junk” that show only a modest uptick in bookstore sales in the Potter months. Publisher Scholastic faces a post- sumes a 20% operating profit mar- level last spring. Bookstore sales for July and August 2005, when Harry Potter and the Half- Harry world, and will soon find out gin for the books. The company declined to com- Blood Prince was flying out of stores, came to $3.4 billion, just 5% above how well the authors it has signed to ment for this article, but Mr. Crum the prior-year period. replace the wizard fill his shoes. In- Family control says that Scholastic has been making vestors will be worrying that the investors have endured a roller- progress in lowering its expenses.The children’s publishing giant,swept up coaster ride on Scholastic’s stock. analyst, who rates the stock a “buy,” in Potter-mania, will take its eye off On March 22,the company low- notes that the company has cut costs Princess Diaries books. But how well Scholastic does the rest of its business. ered its earnings forecast for fiscal and increased sales in key businesses, Despite their grumbling, ana- down the road will depend on its “Generally, the performance of 2007, citing problems with its con- including educational technology, lysts do expect Scholastic to get the ability to cut costs and grow sales— the company is better in a non-Har- tinuities business, which sells chil- core book clubs and school fairs. most out of Deathly Hallows—and and do without the magical levita- ry Potter year,” says Drew Crum, a dren’s books directly to homes. The The publisher has also been ag- paperback sales of the previous six tion of revenue that Harry guaran- publishing analyst at investment stock sank 13%,to $31.08.It’s down gressive in finding authors to at least books—and rake in revenues of teed every other year.The company’s firm Stifel Nicolaus. “My theory is 33% from five years ago. partly fill the gap that will be left by more than $200 million in fiscal critics say that sort of progress will that Harry Potter serves as a distrac- Some observers blame misman- Harry. Most recently, it made a deal 2008 from the Potter phenomenon. take a sustained effort to achieve. tion for the company.” agement under Chief Executive with R.L. Stine for a 12-book spin- “Scholastic is in the right space,” Looking at the annual reports Richard Robinson,who is the son of off of his best-selling Goosebumps Cutting costs a must says Daniel Scalzi, chief executive of with all Potter-related profits re- Scholastic’s founder. Mr. Robinson series. Other high-profile projects “with every book, they’ve been Matrix Investment Research, refer- moved, Mr. Crum calculates that controls the company through own- include a new series by Ann M. able to hone where it sells,” says ring to the children’s and educational earnings per share fell 17% in fiscal ership of its Class A stock. Martin, author of the Babysitters Lorraine Shanley, a principal of market.“It just has to execute better.” 2004—when Order of the Phoenix Scholastic had net income of $69 Club series, and three new lines by publishing consultant Market Part- was published—and rose 30% the million last year, from revenue of Meg Cabot, best known for her ners International. COMMENTS? [email protected]

the victim of any kind of preferential treatment at all,” he says. Ferries landing New York Water Taxi serves about 10,000 commuters daily at sev- Continued from Page 1 says City Councilman John Liu, D- en East River stops. The firm is population growth, city agencies Queens.“That’s a 180-degree switch growing and just received a $4.2 mil- have been directed to develop water in the administration’s position over lion contract from the Port Authori- commutes as one transit option. the last five years.” ALL ABOARD: ty of New York and New Jersey and “The mayor’s impetus has given Deputy Mayor Daniel Doctoroff Waterways chief Arthur the Lower Manhattan Development Imperatore Sr. (center) the agencies a clear direction that says the city’s past support of ferry and his partner, William Corp. for service between Yonkers wasn’t there before,” says Tom Fox, service has been limited to con- Wachtel (right). and Wall Street. Launched on May

president of New York Water Taxi, structing terminals, but agrees that buck ennis 1, the Yonkers line charges $12 each the other principal bidder for the the city will have to broaden its fi- way and offers a 45-minute trip. East River contract. nancial commitment. worked closely with New Jersey muter ferry business might fail. The investment fund of the Part- City Hall wants commuters to “We’ve had to rethink that mod- Transit, which has provided rail and “I got into it in the spirit of a pub- nership for New York City, a busi- become waterborne in a big way.No el of producing commuter ferry bus service to his ferry landings. lic-private partnership,”Mr.Wachtel ness advocacy group,has also boost- one would benefit more than riders service,” he says. “It’s no secret that Twenty years ago, Mr. Imperatore says of his hope of working with City ed Water Taxi by investing $2 of the overcrowded subways—such every other mode of mass transit re- purchased two miles of land along Hall. “However, we’ve operated not million for a new ferryboat. as the 7, L and F trains—that span quires subsidies.” the Weehawken coast, and in the only without a subsidy but, candidly, Water Taxi’s owner, real estate de- the East River, or residents of the The contest to run East River past two years,the condos beside the without a lot of cooperation.” veloper Douglas Durst, says he be- Rockaways in Queens. service is shaping up as a struggle be- Weehawken ferry landing have Insiders say that Waterway could lieves he will win the city contract to Mr. Bloomberg announced ear- tween the two private commuter fer- jumped in price to $2.25 million be handicapped in the bidding expand his service. “We have better lier this month that the city would ry companies now operating in New from about $1.5 million. process because of a lawsuit contend- boats,” he says,“and we’re already op- subsidize Rockaways ferry service at York Harbor: NY Waterway and Mr. Imperatore’s partner, ing that it overbilled for emergency erating on the East River.” Mr. Durst least initially,spending up to $6 mil- New York Water Taxi.Waterway has William Wachtel, is cheering the ferry service after Sept.11.Waterway says he has two $2.5 million ferries lion to keep the fares comparable a profitable Hudson River business city’s new commitment to ferries. settled the suit last year for $1.2 mil- being designed and wants to place the with express bus service.The mayor that carries 30,000 people a day for Doing business as BillyBey Ferry, lion, while maintaining that it did order to have them built. They could promised to look into starting a about $5 to $7 per trip. Mr. Wachtel took over some of Wa- nothing wrong. Mr. Doctoroff dis- be carrying commuters within a year. southern Staten Island route. Over the years, Waterway Presi- terway’s routes in 2005, when it ap- misses the idea that Waterway is at a “The mayor has seen the light,” dent Arthur Imperatore Sr. has peared that Mr. Imperatore’s com- disadvantage. “I don’t think they’re COMMENTS? [email protected]

8 | Crain’s New York Business | May 28, 2007 CNYB 05-28-07 A 9 5/25/2007 2:48 PM Page 1

Bank mergers dry up in NY, leaving holdouts to struggle

cluding commercial ones like Ster- Valley’s have slipped 3%. Stocks, margins fade ling Bancorp and Valley National New York Community Bancorp as high interest rates Bancorp, and thrifts, like Astoria tried to take advantage of the mo- Financial Corp. and Dime Com- ment, but its fundamental prob- persevere; CEOs munity.Though big enough to be of lems—including an overabundance made wrong bet interest to buyers, they didn’t sell of low-yielding bonds—prevented when takeover premiums were high. it from getting a respectable bid They now face shrinking profits and when Chief Executive Joseph

BY TOM FREDRICKSON falling share prices amid high de- Ficalora invited takers in 2004. tabones gerardo posit rates and low loan yields. In an effort to make itself more after running at a boil for four “In hindsight, many of these in- attractive, the company has made office and the recognition that tegrating California-based Golden years in the New York area, bank stitutions should have done deals small acquisitions. Shares have re- comes with it. West Financial, is unlikely to do mergers have gone into a deep chill. cently rebounded, thanks to a high “It basically is a function of when more deals for a while.Likewise,TD Giants like Wachovia Corp.,TD dividend payment. Still, investors the guys who run the banks are ready Banknorth has completed two large Banknorth Inc., Capital One and ‘It is a function think that NYCB is years away from to sell,” says Thomas Graham Kahn purchases in the New York market— Sovereign Bancorp say they’re too a lucrative sale. of Kahn Brothers & Co.,an individ- Hudson United Bank and Inter- busy absorbing acquisitions or con- of when the The others had few excuses, ac- ual and institutional investment change Bank—and has sworn off centrating on organic growth to de- cording to observers. In fact, execu- firm with assets of $850 million. further activity. Capital One is as- vour more small fry. guys who run it tives may even have had incentives similating North Fork Bancorp, for seeking deals. For instance, the Rolling the dice which it purchased late last year.And Down to a trickle want to sell’ chiefs at Sterling, Valley and Asto- the honchos at the holdouts gam- after corporate upheaval and a flurry even midsize banks are sitting on ria are beyond normal retirement bled on the Federal Reserve Bank’s of mergers, Sovereign is focused on the sidelines. Only two tiny deals at age, which should have made them reversing course and cutting interest cost-cutting and organic growth. a combined $287 million have been eager to cash out. Louis Cappelli at rates. “These banks appear to be busy announced this year in the metro Sterling is 76, Valley’s Gerald Lip- They bet wrong. The interest digesting other acquisitions or, in area, according to SNL Financial. when they had the chance,” says kin is 66 and Astoria’s George En- spread between loans and deposits the case of Sovereign, battling other That compares with 10 transactions Baylor Lancaster, an analyst with gleke is 68. has remained minimal, crushing issues,” says Robert Hughes, an an- worth $22.2 billion last year and 11 CreditSights. Of course, executives’ decisions profits for more than a year. The alyst with Keefe Bruyette & Woods worth $6.2 billion in 2005. Their stock prices are sinking aren’t always aligned with share- pressures show no sign of easing in Inc. “Activity in New York seems to The situation is bad news for the along with their profits. Sterling’s holders’ best interests. It sometimes the near term. There’s no action have dried up for now.” handful of midsize, publicly traded shares have plunged 17% since Jan- comes down to a personal choice by from buyers, either. banks that remain independent, in- uary, Astoria’s are down 10%, and a chief who enjoys both going to the Wachovia, preoccupied with in- COMMENTS? [email protected]

derwriting we are seeing is in Man- will be a blip or the beginning of a hattan,”says Zanda Lynn,a manag- real increase in the cost of borrowing. Office building prices at ceiling? ing director at Fitch Ratings. “The overall debt market is still Making matters worse, interest very favorably priced,” says Steven Continued from Page 3 deal,” Mr. Ivanhoe says. square foot. rates have started climbing. Kohn, president of investment bank tightened at all levels.” The increased cost of debt comes The tightening of the lending “Borrowers are having a tough Sonnenblick Goldman.“It also may The company, which is looking at a time when the real estate indus- market has been prompted by warn- time because interest rates have be somewhat temporary; we have to finance as much as 90% of the try is experiencing one of the head- ings from the credit-rating agencies risen in the past two weeks, the cost had adjustments like this in the debt Stamford acquisition with debt,says iest markets in recent history. that increasingly lax lending stan- of debt has gone up,and they are be- market before.” that the price of the loan it’s negoti- dards for commercial loans could ing asked for more amortization,” Regardless, most real estate ating has increased. Sale at $1,100 per square foot lead to defaults.Their admonitions, says Matthew Classi, a managing professionals point out that the “Luckily, due to our close rela- in the first quarter of this year, combined with the recent collapse member of commercial mortgage pricier the debt, the less able bor- tionships with our lenders, we are buyers spent more than $13.6 bil- of the subprime mortgage market, brokerage GCP Capital Group. rowers will be to bid elevated prices not getting hit as hard as others in lion on office buildings in Manhat- have made lenders jittery. No buyer has walked away from for properties. the market,” Mr. Brown says. tan, according to data from Cush- The agencies’ concerns stem a New York City deal because he “There has been a significant The pain is widespread. Ten man & Wakefield Inc. Macklowe from several factors: The terms of couldn’t get financing or the terms shift in the debt market—I would say Greenberg Traurig clients have had Properties recently paid $1,100 per many loans are based on prospective were too difficult—so far. the most dramatic change in nearly a to renegotiate their loans in just the square foot in purchasing eight rents several years into the future decade,”says Patrick Hanlon,a prin- past two weeks, says Robert Ivan- buildings from The Blackstone rather than the income a property No deals called off yet cipal at real estate advisory firm Ack- hoe,chair of the law firm’s real estate Group for $7.2 billion, a record for actually generates,borrowers are be- “the effect of this has only just man-Ziff. “So long as rating agen- practice. Manhattan. RFR Holding’s Stam- ing offered interest-only loans for as begun to work its way through the cies and bond buyers hold their “I got a call from one client who ford acquisition is hitting a high- long as 10 years,and banks are lend- system,” says Tad Philipp, a manag- ground, there is going to be a struc- said that if its acquisition didn’t close water mark itself; the $500-per- ing 90% or more of a property’s pur- ing director at Moody’s Investors tural change in the market.” soon, its loan would be repriced and square-foot price tag dwarfs the chase price. Service. it would have to walk away from the city’s previous record of $334 a “Some of the most aggressive un- It is not clear whether this trend COMMENTS? [email protected] CFOs. Based on round trip purchase, excluding taxes and charges. Please see the bottom line. *

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May 28, 2007 | Crain’s New York Business | 9 CNYB 05-28-07 A 10 5/25/2007 2:13 PM Page 1

pedia Travel Trendwatch, attrib- utes the lower ticket prices to re- More flights, more delays at area airports cent increases in capacity at the city’s airports. He points to a com- Continued from Page 1 Meanwhile, expanded customs bination of new flights coming in season starts. and immigration counters in Amer- STUCK IN TRANSIT and a switch to larger planes by Some airlines aren’t waiting for ican Airlines’ new terminal at some carriers. the inevitable. JetBlue already ad- JFK can handle 33% more travelers Flights arriving or departing more than 15 minutes late. 2006 2007* “Bigger jets mean more seats, justed its departure lineup to allow per hour. John F. Kennedy International 24% 34% which helps lower prices,” says Mr. more time between flights. McGinnis. “We’ve padded our summer Longer trains Newark Liberty International 32% 39% They also mean more passengers schedule, spreading out the day- the port authority is also gear- La Guardia 29% 35% moving, queuing and checking in at time flights,” explains a JetBlue ing up for the summer surge. The all three local airports. spokesman. The airline got caught AirTrain to JFK will run with four U.S. average 21% 25% Travelers should expect the flat-footed back in February when cars during the season’s peak, as op- *Through April. Source: U.S. Bureau of Transportation Statistics worst delays at JFK. The airport an ice storm wreaked havoc on its posed to the usual two cars. handled 43 million passengers last JFK hub. The new schedule, says Experts blame the expected trav- year, an increase of more than 4%. the spokesman, “will give us added el surge on a strong economy, peo- New York. A recent Expedia.com have been reduced by 4% to 7%, The Port Authority expects a simi- time in the day to catch up, if we run ple’s eagerness to get away and sur- survey listed New York as one of the compared with last year’s fares. lar increase this summer. behind.” prisingly low fares—especially in cities where summer ticket prices Chris McGinnis, editor of Ex- Recent rule changes by the Fed- eral Aviation Administration have allowed the airport to use three of its four runways at a time,instead of the customary two. That will lead to more flights—and more travelers pouring into terminals. The picture should be similar at Newark Liberty International Airport, the area’s fastest-growing facility. Last year, traffic there soared more than 7%, to 35 million travelers. The exception to all of this is likely to be La Guardia Airport, the traditional choke point of the metro area’s air traffic system.Last year,the space-constrained airport actually saw passenger volume dip 0.3%, to just under 26 million, as airlines cut back on domestic flights. Much of the overall increase in traffic this summer is expected to come on international flights, par- ticularly to Europe. The number of flights to Europe from U.S. airports is expected to be up 8.5% for the summer. That will rank as the biggest jump in seven years, according to Craig Jenks, president of consulting firm Airline/Aircraft Projects Inc. Of the 34 net new daily flights this summer, nearly 20 will be out of New York’s airports. Four new carriers leading the charge across the North Atlantic will be four carriers new to the city.Next month, United Kingdom-based Flyglobespan air- lines will begin flying from JFK to Liverpool John Lennon Airport and to Knock, Ireland. In addition, Zoom Airlines will initiate service from JFK to Lon- don’s Gatwick Airport, Jet Airways will begin serving Southeast Asia and Qatar Airways will begin flying to the Middle East. A surge in flights to secondary European cities is also helping to boost air traffic here. Delta will be launching nonstop flights from JFK to Bucharest, Romania, and to Pisa, Italy. Continental will be adding three more flights a week to Edin- burgh, Scotland. “When you create new nonstop flights to secondary cities, you al- ways stimulate a dramatic increase in tourism in both directions,” says Mr. Jenks. Every small business owner has great expectations.Visa Business can help you not In fact, a recent Expedia.com BUSINESS travel survey showed that 86% of only reach those great expectations, but exceed them. For more information about TAKES adults planning a summer vacation our smart, simple and secure payment options, go to Visa.com/smallbusiness. said they were likely to consider an off-the-beaten-path destination to ©2007 Visa U.S.A. Inc. avoid crowds and high prices.

COMMENTS? [email protected]

10 | Crain’s New York Business | May 28, 2007 Project2 11/17/06 1:31 PM Page 1 © 2006 FedEx.© 2006

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VIEWPOINT Immigrants and New York editor in chief Rance Crain publisher Jill R. Kaplan ew york isn’t just a city built by very onerous and may be too punitive. EDITORIAL immigrants. It is a city being remade But in the compromise measure being debated, editor Greg David every day by newcomers from abroad. legalization required that accommodations be made to managing editor Richard Barbieri deputy managing editors Valerie Block, That process won’t be helped, and may those who fear immigration. Billions would be spent to Erik Ipsen be damaged, by the complex attempt to seal the Mexican border. Employers would have assistant managing editors Carmen Fleetwood, Robert Hordt immigration reform proposal being to vet all new employees, and eventually all their workers, columnist Alair Townsend considered in Congress. to make sure they are in the country legally. Employers senior reporters Aaron Elstein, Lisa Fickenscher, Matthew Flamm, The importance of immigration to the city can’t be would no longer be able to sponsor people for admission, Tom Fredrickson, Samantha Marshall, overstated. New York started losing large numbers of while the problems with the H-1B visa program for skilled Anne Michaud, Julie Satow, N Miriam Kreinin Souccar people to the suburbs nearly half a century ago. Amid the workers would not be reporters Barbara Benson, Elisabeth Butler, fiscal crisis of the 1970s, flight became so severe that the fixed. A new guest Erik Engquist, Amanda Fung, Hilary Potkewitz, The compromise Gale Scott population shrank to a little more than 7 million. But in the worker program restaurant critic Bob Lape 1990s, amid more liberal federal immigration policies, the bill is badly limited to a fixed art director Steven Krupinski deputy art directors Carolyn McClain, number of New York City residents grew by nearly 10%, to flawed and number of years Daniel Mednick just over 8 million, despite the fact that more than 1 million appears highly flawed staff photographer Buck Ennis copy desk chief Wendy Zuckerman people left. Mayor Michael Bloomberg believes that the needs changes because it wouldn’t be copy editors Michele Arboit, city will grow by 900,000 people in the next 25 years, responsive to the Thaddeus Rutkowski research editor Denise Southwood primarily because people will move here from other varying needs of the associate research editor Adrianne Pasquarelli countries. economy. www.NewYorkBusiness.com Newcomers have always been a major factor in keeping Regrettably, despite online editor Catherine Tymkiw the city’s economy expanding. Economists agree that the compelling evidence that New York offers, there isn’t online reporter David Jones immigrants play a key role in certain fields, such as widespread agreement in Washington about the value of EDITORIAL AND ADVERTISING OFFICES 711 Third Ave., New York, NY 10017-5806 construction, child care, hospitality and tourism.They also immigration.The tortured compromise bill fails because it editorial: 212.210.0277 Fax 212.210.0799 advertising: 212.210.0259 help fill crucial jobs in white-collar professions. tries to appease too many political constituencies. Cable craincom nyk The best part of the pending bill—supported by a For now, legislative efforts should be focused on three key Fax 212.210.0499 Entire contents ©copyright 2007 Crain bipartisan group of legislators and the Bush goals: making it easier for new immigrants to come, easing Communications Inc. All rights reserved. ®CityBusiness is a registered trademark of MCP administration—is that it offers a path to legal status for the the path to legal status for those already here and allowing Inc., used under license agreement.

nation’s 12 million illegal aliens, a group that probably companies to recruit the workers they need. If those aims TO SUBSCRIBE: exceeds 650,000 people in New York City.The process is can’t be achieved, reform should wait for another day. Call 888.909.9111; fax 313.446.6777. $3.00 a copy, $59.79 one year, $109.79 two years. www.NewYorkBusiness.com

ADVERTISING AND MARKETING advertising director Vanessa Cognard LETTERS TO THE EDITOR business development manager Robert N. Grossman senior account managers Holly A. McKeown, William E. Squitieri account executives Andrew Carlin, Lisa Pearly, Derek Reese, Broadway’s flying high this season Jennifer Siniscalchi, Brigitte Stieglitz western account manager MOST THEATERS in November. Mary Poppins has anything else. Ellen Mazen (Los Angeles) 323.370.2477 been at the top of the box-office kirk cruce sales manager, classified ARE BOOKED print & online John Gallagher chart for 26 weeks running. newsletter product manager crain’s May 14 story on david schrader NO AMNESTY Catherine Evans Gittens Broadway’s current record- Managing director FOR ILLEGALS sales coordinator, print & online setting season was Disney Theatricals Lulé Haznedari unnecessarily glum. there should be no amnesty sales coordinator Anita Perrino credit Pat Grondziak 313.446.6082 The rate of growth in rev- U.S. INDUSTRIES and no immediate legal status for marketing manager Jill H. Bottomley enues and attendance cannot SHOULD RELOCATE illegal immigrants. We should circulation manager Andrea Richardson be sustained because Broadway enforce employment laws and general manager, interactive is operating as close to capacity the porous Mexican border secure the borders. Marc Minardo as it ever has—topping 12 mil- promotes entry of illegal aliens This is all that is required. FALL SENSATION: The musical Mary Poppins, which NEW YORK PRODUCTION lion in total attendance for the opened in November, is a breakout hit. (see Crain’s online poll, Page 13). It k. james bickford first time in history. Virtually would be timely at this point to production and pre-press director Michael Corsi every theater is booked—with encourage American industries to REALITY OF RACISM advertising production manager a variety ranging from more than a yet a major new breakout hit. But relocate to Mexico to stem the tide HASN’T CHANGED Marilyn DeMilta dozen established, carryover hits the theater is always risky, and very of illegal immigrants. from prior seasons to a few shows become instant sensa- crispin dannug jr. all of these issues bring PUBLISHED BY CRAIN COMMUNICATIONS INC. chairman Keith E. Crain fantastically diverse range of 20 tions. By the only objective measure forward the nasty reality of the president Rance Crain new shows. I cannot find much we have—the box office—there is BORDER DEFENSE American culture’s racism. secretary Merrilee Crain about that to be “disappointing.” at least one new hit show this sea- IS TOP PRIORITY There has been no change to treasurer Mary Kay Crain True, some looking for the dark son that wasn’t mentioned in your this reality. executive vp, operations William Morrow cloud may argue that there is not spring summary because it opened defense, defense, defense before francis marquis senior vp, group publisher Gloria Scoby group vp, technology, circulation, manufacturing Robert C. Adams vice president/production & manufacturing David Kamis WHAT’S COMING UP IN CRAIN’S? chief information officer Paul Dalpiaz corporate circulation director Small Health Area’s largest Executive Area’s Market Patrick Sheposh

business care benefits pay highest-paid Facts founder G.D. Crain Jr. (1885-1973) report report consulting firms report chief executives report chairman Mrs. G.D. Crain Jr. (1911-1996) June 11 June 18 June 18 June 25 June 25 July 2

12 | Crain’s New York Business | May 28, 2007 CNYB 05-28-07 A 13 5/25/2007 1:27 PM Page 1

MIDYEAR ECONOMIC FORECAST BREAKFAST

working parents. The UFT says family day care providers in the city earn only about $19,000 a year. So Editor Greg David will give an overview of the what’s wrong with giving them bar- gaining rights? economic boom in the city and a panel of First, the governor could have experts will examine the growth of private proposed modestly increasing the subsidy per child and been done equity firms, the invasion of national retailers, with it. Instead, he chose to go the unionization and collective bar- areas of strong job growth and the growth in gaining route, which could become economic ties between New York and India. hugely expensive as pay and benefits grow. Health insurance alone could add several thousand dollars to each child’s tab. Second,the order will either dra- matically raise state and local spending or reduce the number of Rajiv Khanna, PRESIDENT, slots available. The cost of care is INDIAN-AMERICAN CHAMBER OF split 50-50 between the state and lo- COMMERCE calities. Everything that the state gives away at the bargaining table drives up costs. Mayor Bloomberg opposed a similar legislative propos- al last year for this reason. When john h.john howard budgets are tight,localities and even Michael Madden, PARTNER, the state itself may cut the number BLACK EAGLE PARTNERS of children served as the per-child costs soar. These care providers also babysit Cost of unionized for children whose care is not subsi- dized by the state. Modest-income parents won’t be able to pay the Joshua Muss, DEVELOPER, babysitters is high freight once their caregivers’pay and MUSS ORGANIZATION benefits rise.They’ll have to find al- ternative care. Most parents are ov. eliot spitzer is playing patty-cake with acutely cost-conscious.They simply Randi Weingarten, president of the United want a clean,safe and supportive en- vironment at a reasonable price. If Federation of Teachers, and she couldn’t be care is too expensive, it doesn’t pay Rae Rosen, ECONOMIST, happier. And why not? She gave up nothing for mothers to go to work. for the chance to get thousands of new dues- Third, this scheme sets a terri- NEW YORK FEDERAL RESERVE BANK paying members. ble precedent. Workers in other G subsidized services—operators of Mr. Spitzer signed an executive order that gives 60,000 day care centers, for example—will queue up to get their coverage. independent contrac- businesspeople. Their Tens of thousands more workers tors statewide the right only connection to the could be swept into the protective to unionize and ne- state is through the arms of the state, dramatically es- Be in the know about the latest trends and gotiate with the state children whose care is calating costs and further expand- for their pay and ben- subsidized. But soon ing union ranks. developments on the economic front by efits, which could in- they will be represented The strategy in the executive or- clude health care, by public employee der is as dangerous as it is simple: attending this important breakfast. workers’ compensation, unions—the UFT in Use any hook, however flimsy, to vacations and even New York City and the expand state coverage of as many pensions. Civil Service Employ- low-wage workers as possible— DATE: The newly empow- ees Association else- without regard to the cost to the Tuesday, June 19, 2007 ered are people who ALAIR where in the state. public purse or market conditions. PLACE: Waldorf=Astoria, 301 Park Ave. provide day care in their Supporters say these Such measures are one reason why TOWNSEND (BETWEEN 48TH & 49TH STREETS) own homes if they people don’t make New York is the most highly taxed watch over even one enough and have few state in the nation and has one of TIME: Networking Breakfast 8:00-8:30 a.m. child whose care is subsidized by the benefits, even though they are per- the lowest percentages of people Program 8:30-9:30 a.m. state. They are independent small forming an essential service for with jobs.

COST TO ATTEND: $60 for $600 for CRAIN’S ONLINE POLL individual ticket(s) table(s) of ten IF PREPAID BY JUNE 12 IF PREPAID BY JUNE 12 DO YOU BACK THE SENATE’S IMMIGRATION BILL? $70 thereafter $700 thereafter TWO-THIRDS of the 496 respondents op- You must be pre-registered to attend this event. All tickets are pose the Senate’s immigration legislation. Yes, it’s a No, it reasonable non-refundable. Nearly half say that the Senate is creating compromise essentially .33% grants amnesty an amnesty program for illegal aliens; 10% Register online by going to newyorkbusiness.com and 43%. to illegal aliens say the measure would mean taking jobs No, it will clicking on “Events,” or fax your business card and increase the away from U.S. workers. However, 14% number of credit card information to “Economic Forecast Breakfast” guest workers, .10% No, it’s too at 212-210-0499. oppose the bill on the grounds that the taking jobs 14% harsh on illegal from U.S. . terms are too tough on immigrants. A third workers immigrants For more information, call the Events Hotline at 212-210-0739. of respondents support the proposal.

SPONSORED BY For readers’ comments, see Letters to the Editor on Page 12. CNYB 05-28-07 A 14 5/25/2007 1:31 PM Page 1

Developers picked for B’klyn project GETTING STUCK Congestion fees THE INSIDER THE WAR OVER CONGESTION PRICING escalated last week as the Bloomberg time equities inc. and the administration considers the best way to pass its ambitious PlaNYC 2030 in by Erik Engquist and Anne Michaud Brooklyn Economic Development Albany. Corp. have been chosen to redevel- A Quinnipiac poll found that 56% of New op an eight-story warehouse in York City voters oppose Mayor Michael Sunset Park into an unusual light- Bloomberg’s traffic pricing plan, even through manufacturing and retail complex. 45% agree with the assumption that congestion They will also build a retail center on costs the city and taxpayers billions of dollars a an adjacent 100,000-square-foot year. The poll drew the ire of the Campaign for parking lot. New York’s Future, a coalition supporting The Bloomberg administration PlaNYC. predicts that the $200 million The group noted that in its own poll, project will create more than 1,200 conducted in April, 70% of respondents were full-time jobs. strongly or somewhat persuaded to support congestion pricing after learning how it would Firms hiring reduce pollution, improve public health and raise $31 billion for mass transit. CAPITAL ISSUE: NYC red-tape help The mayor is also running into some trouble firms want Washington to open the door to developers are hiring City Hall in Manhattan. Assemblyman Jonathan Bing, more skilled workers. insiders to help them move their whose Upper East Side district is almost entirely

ap images projects through government within the fee zone, says it could amount to a tax on people taking their kids catacombs. to school or parents to the doctor. Assemblywoman Deborah Glick, who Eric Deutsch, president of the represents lower Manhattan, is concerned that people moving cars for Firms seek immigration bill changes Alliance for Downtown New York alternate-side parking—which sometimes requires driving several blocks—will arge new york city businesses will lobby in for less than 20 months, is leaving be charged. for the Clarett Group. Economic Behind the headlines, Bloomberg administration officials are in talks with Washington to correct what they see as major flaws in Development Corp. Vice President Gov. Eliot Spitzer’s staff about the 16 changes to state law needed to the immigration bill. In particular, they want visas Kate Ascher took a job with Vornado implement PlaNYC. Though some could be passed this session, congestion L Realty Trust. Marc Ricks, who was granted according to market-based criteria. pricing is seen as too complex and controversial to hammer out in four weeks. Partnership for New York City President Kathryn Wylde, Deputy Mayor Daniel Doctoroff ’s A vote could be held during a special legislative session in September. chief of staff, joined Goldman The mayor is “going to get 95%,” one senior Democrat says of the plaNYC who met with members of her organization last week, says Sachs’ real estate unit. And interim proposal. “He’s going to have trouble with the pricing piece.” executives will ask for more H-1B visas, which let companies EDC President Josh Sirefman went bring in skilled workers. Applications have been to Brookfield Properties. bloomberg news outnumbering available visas by roughly a 2-to-1 ratio. five competitors on Thursday. Manhattan, one of five sponsors, The bill also doesn’t address calls for faster granting of the Governors Island GIPEC will display the designs on says Democrats are laying out their visas that let businesses move noncitizens in and out of the designs ready the island, which opens for the agenda for when they take the country; Ms. Wylde says one firm has established an office in summer June 2, and at the majority, which he predicts will the governors island American Institute of Architects happen in 2008. Toronto for its foreign clients because the red tape in the Preservation and Education Corp. building, 536 LaGuardia Place. United States is so thick. will unveil parkland designs from President Leslie Koch says the group will solicit public comment Lopez plays coy on the designs on govisland.com on endorsement and at a hearing scheduled for June 20 at 6:30 p.m. assemblyman Vito Lopez, chairman of the Brooklyn Democratic organization, says he’s leaning Nassau election toward endorsing Sen. Hillary Clinton decided by Bush (below) for president but has promised Sen. Barack Obama a political consultant Norman meeting before he decides. Adler says Republican Maureen Ms. Clinton has tried to O’Connell wasn’t beaten by state Sen. monopolize the support of the Craig Johnson, D-Nassau, in the city’s political establishment, but special election in February but by Mr. Lopez says five Assembly President George W. Bush. members in Brooklyn have told Mr. Adler’s analysis of his client’s him they would like to endorse Mr. loss reveals that the president’s lack Obama. In Manhattan, only state brooklyn house of detention. of support influenced the outcome Sen. Bill Perkins has endorsed the express your vision more than anything else—even Gov. Illinois senator. Eliot Spitzer’s campaigning for Mr. Ms. Clinton is backed by the Johnson. city’s congressional delegation with Seeking Developers with Vision Mr. Adler predicts that the the exception of Yvette Clarke, Long Island Republican Senate D-Brooklyn, who hasn’t endorsed New York City Economic Development Corporation (NYCEDC) and the candidates he advises will do better anyone, and Staten Island’s Vito New York City Department of Correction are seeking expressions of interest in 2008 if Rudy Giuliani rather than Fossella, a Republican. I for the sale of two development parcels at 275 Atlantic Avenue/Brooklyn House the hawkish Sen. John McCain is the of Detention in Downtown Brooklyn. GOP presidential nominee.

Responses are due no later than 4:00 pm on July 18, 2007. Submission guidelines and requirements are outlined in the RFEI and available to download at Dems throw out www/nycedc.com/rfp, or for pick-up at NYCEDC, 110 William Street, 6th Floor, New York, NY, Monday – Friday, 9:30 a.m. to 4:30 p.m. Green Apple state senate democrats A combined Site Visit and Question & Answer session will be held on introduced four bills recently— Wednesday, June 6, 2007 at 2 p.m. Those who wish to attend must RSVP by phone collectively, the “Green Apple to Liliana Ruiz at 212-312-3840 or email [email protected] by Tuesday, June 5, Initiative”—to reduce air pollution, 2007. Respondents who cannot attend the Question & Answer session may submit finance cleaning up former indus- questions to [email protected] by Tuesday, June 5, 2007. trial sites for redevelopment, curb The questions will be answered at the session and a transcript of the entire session will suburban sprawl and strengthen be posted on the website www.nycedc.com/rfp by Wednesday, June 13, 2007. wetlands protection. With Democrats in a 33-to-29 minority, REQUEST FOR EXPRESSION OF INTEREST the initiative has little chance. But Sen. Eric Schneiderman of bloomberg news 14 | Crain’s New York Business | May 28, 2007 CNYB 05-28-07 A 15 5/24/2007 2:49 PM Page 1

NEIGHBORHOOD JOURNAL

district expected to benefit include Home run for S.I. Yankees ticket sales Lehman College and Hostos Com- munity College in the Bronx, and LaGuardia Community College seats,not to mention their stomachs. Under legislation introduced by $35 million to science programs at and Vaughn College of Aeronautics New management —erik engquist Rep.Joseph Crowley,schools whose historically black colleges, but up and Technology in Queens. The fills stadium; funds student population is at least 25% until now it has not had a program measure was passed unanimously by Hispanic would be eligible to re- for schools serving Hispanics. the House early this month and is for Hispanic students Science support ceive targeted grants from the Na- “We would definitely apply for likely to be funded later this year. where it’s needed tional Science Foundation.The dol- those grants if they were there,” says “As president of an urban, His- he first pitch won’t be lar amounts have yet to be set. George Sanchez, provost at Bronx panic-serving institution, I support thrown until June 20 at colleges in queens and the Bronx “This measure corrects a long- Community College.“Our students all efforts to expand undergraduate the home of the Staten with sizable numbers of Hispanic standing inequality at the National are typically underprepared in access to science, technology, engi- Island Yankees—the and Latino students are hoping for Science Foundation,” says Mr. chemistry and biology, so we must neering and math,” comments Do- Bronx Bombers’ minor a nice jolt of cash from Washington Crowley, whose district of Queens undertake enhanced efforts to bring lores M. Fernández, president of Tleague team—but tickets are being to bolster their math, science and and the Bronx is 40% Hispanic.Last them up to college level.” Hostos. snapped up at a record clip. engineering curriculums. year, the NSF granted more than Other schools in Mr. Crowley’s —hilary potkewitz Just four months after new own- ers took control of the team, over half of the season’s 38 home games have sold out. That performance contrasts sharply with ticket sales in the previous six years. Under the original owners, father-and-son duo Stanley and Josh Getzler, near- ly 60% of Richmond County Bank Ballpark’s 6,500 seats regularly went unfilled, causing many to question the city’s $71 million investment in the spiffy new stadium. Things began to turn around last fall when the New York Yankees bought the Getzlers’ 51% stake and then brought in Mandalay Baseball, the owner of five minor league base- ball teams, to run the show on Stat- en Island. Mandalay tripled the team’s sales force and then launched an advertising blitz. “They’re marketing like I’ve nev- er seen before,” says Staten Island attorney John D’Amato, a consult- ant for the team.“There’s new ener- gy over there, a professionalism that’s never been seen before at the stadium.” Lower Manhattan businesses are being wooed with deals for compa- ny outings, but the most popular promotion has been a five-game, all-you-can-eat package for $75 per

THE PITCH: Lower Manhattan businesses are being wooed with deals for outings.

person. “Enjoy as many hot dogs, hamburgers, chicken sandwiches, soda and water as you want,” the team’s Web site declares. Beer, how- ever, remains extra. Previously, the only ticket package was for all 38 home games—sans food. The mastermind of the Staten Island Yankee’s rebirth is Jon Spoel- stra, a Mandalay executive and one of the nation’s top sports marketers. The parent club has helped, sweet- ening every ticket package with a free Yankee Stadium ticket and VIP tour.The Yankees are selling 50% of the minor league team to Mandalay, says Lonn Trost, chief operating of- ficer of the parent club. While the economic carryover of a re-energized ballpark remains to be seen, at least fans will be filling the

May 28, 2007 | Crain’s New York Business | 15 CNYB 05-28-07 A 16 5/25/2007 10:48 AM Page 1

WEEK IN REVIEW

ling Stamos manages more than ECONOMIC SPOTLIGHT $4 billion of assets. Con Ed plans major overhaul consolidated edison inc. will spend $39.3 million to upgrade its aging electrical system.The project, funded primarily by the U.S. Department of Homeland Security, includes installing a superconducting electric cable. Unterberg selling c.e. unterberg towbin, a bou- tique investment bank specializing in small technology firms, agreed to be bought by British brokerage Collins Stewart for $32 million. It WTC insurance settlement will be renamed Collins Stewart. SEVEN INSURERS SETTLED all outstanding claims stemming from the collapse of the World Trade Center on Sept. 11, China deal boosts 2001, and agreed to pay $4.55 billion to the Port Authority Blackstone IPO of New York and New Jersey and developer LARRY the blackstone group increased SILVERSTEIN (above left). The deal, brokered by New York the value of its planned initial Economy Watch Insurance Superintendent Eric Dinallo and announced by public offering by almost 20% April marked the ninth straight month in which New York City’s jobless GOV. ELIOT SPITZER (above right), completes nearly six years after agreeing to sell a $3 billion rate was below 5%. The city has added 70,700 jobs since December 2005. stake to a Chinese state-owned of legal wrangling. Mr. Silverstein won $4.68 billion in 2004, investment firm. Blackstone now MARCH ’07 APRIL ’07 COMPARISON but insurers subsequently paid only half that amount. plans to raise up to $4.75 billion NYC jobless rate 4.3% 4.4% 4.5%1 through the IPO. bloomberg news NYC employment change +100 -700 +22,6002 NY area inflation change +0.7% +0.5% +2.5%3 awarded a seven-year contract with Metro-North OKs an option to renew for two years. Columbia fires 1-U.S. unemployment rate. 2-Change since December 2006. 3-Inflation rate for the latest 12-month period. Yankee station financial aid chief Carnegie Hall NYC Hotel Stats Broadway Stats the metropolitan Transporta- columbia university dismissed tion Authority’s Metro-North getting face-lift its director of financial aid, David Average room rates and occupancy Attendance and gross rose slightly Railroad approved building a Charlow, after subpoenaed levels continued upward in March, for the nine plays and 26 musicals $91 million station at the new carnegie hall plans to spend up documents showed that Mr. PKF Consulting data show. The playing in the week ended 5/20, Yankee Stadium.The MTA will to $200 million on a major Charlow had repeatedly promoted averages for the year to date were The League of American Theatres contribute $52.2 million and the renovation.To make room for Education Lending Group, a $247.55 and 79.2%, topping year- and Producers says. Overall, theaters city $39 million for the station, more class and rehearsal space, student lender in which he owned earlier levels of $222.08 and 78.5%. were filled to 80.8% of capacity. which is slated for completion management will not renew leases a stake worth more than $100,000. around the time the stadium for the dozens of artists who rent opens in spring 2009. space in Studio Towers. Hybrid taxi plan Rival eyes Topps IPO news gets green light baseball card company Topps risk management firm mayor michael bloomberg said Co. received an unsolicited RiskMetrics Group Inc., which the city’s fleet of yellow taxis would $416 million paid $533 million last year for be converted to hybrid models buyout offer proxy adviser Institutional Share- within five years to improve fuel from rival holder Services Inc., is considering economy and cut pollution. Nearly Upper Deck an initial public offering. … Duff 400 hybrids, which run on gas and Co.The bid & Phelps Corp., an independent electricity, have been tested over tops a $385 mil- financial adviser, plans to raise up the past 18 years.The number will lion offer from to $200 million through an IPO. increase to 1,000 by October 2008.

an investor bloomberg news —from staff reports and Capital IQ’s Weekly Deals Report group led by media executive bloomberg news reports Michael Eisner. Shareholders are Foot Locker, Nike TRANSACTION SIZE slated to vote on the bid June 28. COMPANY/LOCATION (in millions) BUYER/INVESTOR TRANSACTION TYPE in retail deal 24/7 Real Media Inc. $649.0 WPP Group SB M&A Nasdaq in Europe foot locker inc. partnered with Manhattan Nike Inc. to create a basketball- Synergy Financial Group Inc. $168.4 New York Community Bancorp Inc. SB M&A nasdaq stock market inc. themed retail chain called House of Cranford, N.J. agreed to buy Sweden’s OMX AB Hoops by Foot Locker.The firms General Maritime Corp. $112.3 Morgan Stanley & Co. SB M&A for $3.7 billion, pushing into plan to open 50 stores within three Manhattan Europe after failing to acquire the years, starting in early 2008 with SMART Business $60.0 Great Hill Partners GCI Advisory and Consulting London Stock Exchange. OMX, the conversion of Foot Locker’s lo- Manhattan founded in 1985 as the world’s first cation on 125th Street in Harlem. Managed Systems Inc. $3.0 Greenhill SAVP GCI publicly listed bourse, operates Manhattan seven Nordic and Baltic exchanges. Merrill stakes Veotag Inc. $0.8 Not disclosed GCI Manhattan Verizon’s 911 plan merrill lynch & co. agreed to U.S. Helicopter Corp. $0.5 Cornell Capital Partners GCI buy a 20% stake in GSO Capital Manhattan verizon communications inc. Partners, an $8 billion hedge fund. Selected deals announced during the week of May 13 for companies headquartered in metro New won a $195 million contract to … Merrill will also buy a stake in York. GCI: Growth capital investment represents new money invested in a company for a minori- build a new emergency network fund manager Sterling Stamos, bloomberg news ty stake. SB M&A: Strategic buyer M&A represents a minority or majority acquisition of existing shares of a company without the participation of a financial buyer. system for New York City’s police whose owners include New York HAIL THE CHIEF: The mayor says the entire

gerardo tabones gerardo and fire departments. Verizon was Mets owner Fred Wilpon. Ster- taxi fleet will be converted in five years.

16 | Crain’s New York Business | May 28, 2007 CNYB 05-28-07 A 17 5/24/2007 1:47 PM Page 1

SMALL BUSINESS Two filmmakers take their best shots

move bigger projects along.” Ms.Ness has also produced a 12- One starts with big project, then markets it; To date, Necessary Films has minute trailer that she’ s screening other aims to start small and build gradually completed three short films, all for broadcasters and nonprofits. commissioned by New York City A SCENE from Adam Hootnick’s Unsettled. ness can help fund her dream proj- nonprofits, including the American Finding outlets BY DIANE C. HESS ects, which include a feature-length Civil Liberties Union. while they work on fund raising, documentary, Bad Blood, about he- With her business going well, Ms. Ness and Mr. Hootnick are do- The picture is much the same for eing a documentary mophiliacs who contracted HIV in Ms. Ness has been able to devote ing what all entrepreneurs do: Mr. Hootnick. To make ends meet, filmmaker is easier than the 1980s. some free time to fund raising. She pinching pennies. he works from his home in ever, thanks to falling “By doing the short films, I can projects that Bad Blood will cost Ms.Ness keeps a lid on overhead Williamsburg, Brooklyn, and free- prices for everything build a body of work for Necessary $350,000 to complete. Tapping by working out of her Manhattan lances for MTV and private clients. from editing software to Films,” Ms. Ness says.“Meanwhile, family, friends and foundations, she apartment; she hires freelancers and Bcameras and a surge in potential any production fees can be used to has come up with $25,000. rents editing space only as needed. COMMENTS? [email protected] outlets—many of them Internet-re- lated. Actually making money at it, however, is another story, as two young New Yorkers are finding out. Nearly two years ago, Adam Hootnick left his job as a producer at MTV News and Documentaries and quickly raised enough to make a documentary that has been criti- cally acclaimed and that he is trying to turn into a money earner. At about the same time, Marilyn Ness, who as a producer for Steeplechase Films had won several Emmys, struck out on her own. Her strategy is to start small and work her way up to more extensive projects. “Documentary filmmaking is not a startup profession for teenagers,” says Ric Burns, who has been in the business since 1985 and founded Steeplechase Films. “It takes focus, dedication and stamina.” In Mr. Hootnick’s case, the process began with an idea for a film about Israel’s withdrawal from the Gaza Strip. Estimating that his movie would take a minimum of $200,000 to make,Mr.Hootnick set up a limited liability corporation called Resonance Pictures. Next, he began selling shares in his film project and signed up with a nonprofit that helps filmmakers land tax-deductible contributions. Critical success working capital in hand, Mr. Hootnick left his job in June 2005 and went to Israel to film a group of settlers about to be removed from their homes. In January, the prod- uct, Unsettled, won the Grand Jury Prize for Best Documentary Fea- ture at the Slamdance Film Festival in Park City, Utah. Mr. Hootnick is trying to con- vert the critical success into cash. “There are a lot of different income streams that I’m pursuing right ©2007 Consolidated Edison Arnell Company Inc. Ad: Group of New York, now,”he says.He has entered Unset- tled in several festivals in the hope of attracting a distributor or financial I RUN A HEALTHY BUSINESS. backer to help with getting the movie into theaters. Mr. Hootnick has also tapped SO NATURALLY, I USE GREEN POWER. into the online world with a page on MySpace.He has a Web site as well, where he may eventually sell down- Your business can be lean, clean and green. Green Power is energy generated from renewable resources loads or DVDs. like wind, water, sun or biomass. It’s great for the environment, reducing pollutants that contribute “There is more hope now of get- to global warming. And it’s easy to choose a Green Power energy supplier. Call 1-800-780-2884 or visit ting remuneration,because of all the us online. As always, Con Edison will deliver your energy safely and reliably, and will respond to any new ways of getting a film out problems or emergencies. there,” says Sandra Ruch, executive director of the International Docu- mentary Association. Ms. Ness is taking a more tradi- www.poweryourway.com/greenpower tional approach. Her outfit, Neces- sary Films,makes short productions under contract. She hopes the busi-

May 28, 2007 | Crain’s New York Business | 17 CNYB 05-28-07 A 18 5/24/2007 1:49 PM Page 1

REAL ESTATE DEALS Polo makes bigger play on Madison

12th floor at 625 Madison Ave., for a would pay $370 million to buy all its Durels, head of leasing for landlord With stock up, Ralph total of 349,700 square feet. The Japanese licenses. It opened its flag- SL Green Realty Corp. Lauren expands; asking rent at the building, which is ship store in Tokyo in 2006. David Goldstein, a broker at between East 58th and East 59th Several other retailers have of- Studley, represented Polo. French firm takes streets,is $75 a square foot.Polo,the fices at 625 Madison, including —julie satow over Hilfiger space largest tenant, has leased its space Bergdorf Goodman, Bulgari Jewel- through December 2019. ers and Stuart Weitzman Shoes. 25 W. 39TH ST. gets a new fashion tenant. olo ralph lauren corp. The company’s share price has “Corporate offices for retailers Fashion tech firm is expanding on Madison risen in the past several weeks on have been attracted to the building happy with side deal Avenue.The apparel firm news that it is shoring up its pres- because of its proximity to the Plaza former digs. Lectra recently signed a has leased an additional ence in Japan, its second-largest and the upper Madison Avenue lectra usa, a technology provider 10-year lease for nearly 20,000 35,000 square feet,taking market after the United States. Last market, where many of them oper- that caters to fashion houses, is mov- square feet at 25 W. 39th St., between Pthe entire 15th floor and part of the month, Polo announced that it ate high-profile stores,” says Steven ing into part of Tommy Hilfiger’s Fifth and Sixth avenues. It will move from its 15,000-square-foot offices at 119 W.40th St.by the end of June. Lectra, a subsidiary of France’s Lectra SA, produces and sells fashion technology and equipment,including design software that creates patterns and automatic cutting machines.The company wasn’t immediately sold on the West 39th Street location. “I was a little concerned because it’s a side street, and we were only looking at avenue space,” says Marc Miller, president of Miller & Part- ners,which represented Lectra.Inte- rior improvements such as new fix- tures and electrical upgrades helped sway Lectra’s executives, he says. They also appreciated that the build- ing’s owners,25 West 39th Street Re- alty,let them sign the lease without a guarantee from the parent company. Christel Engel, a broker at GVA Williams, negotiated on the land- lord’s behalf. Asking rent for the Class A space was $70 a square foot. Fashion firms such as Movado and Polo Ralph Lauren also have space in the 39th Street building. Tommy Hilfiger vacated after new owner Apax Partners moved the headquarters to Amsterdam. —elisabeth butler State Democrats move in on Park gov. eliot spitzer’s re-election committee and the New York state Democratic Party have consolidat- ed their offices in midtown south. THE NUMBER ONE SMALL BUSINESS ISSUE IS HOW TO Spitzer 2010 and the Democratic Party, who moved last month from PAY FOR HEALTH INSURANCE. IT DOESN’T HAVE TO BE. two different locations, signed a five-year lease for the entire ninth If you’re not quoting HIP, you can rest assured that your competition is. and 10th floors,or 8,800 square feet, at 461 Park Ave. South. The building,

* between East 31st and East 32nd • 6% Commission on HIP Select EPO/PPO streets, has an asking rent of $40. • 4% Commission on HIP Classic HMO “They were looking for space on a tight budget, and they wanted enough room to house their opera- • Plans starting as low as $223/mo. • Free eyeglasses, massage therapy, $200 gym tions and to bring in additional • Leading facilities like Montefiore Medical Center, reimbursement and alternative medicine.** staffers when things heat up during North Shore / Long Island Jewish and Lenox Hill Hospital. • Rated “excellent” by the National Committee for the campaign,” says Robert Emden, • 25,000 physicians in neighborhoods where your a broker at PBS Real Estate, which Quality Assurance for Commercial HMO & POS plans. represented the tenants. clients live and work. • Flexible cost-sharing options available. The committee for Mr. Spitzer, • A broad range of products to suit your client’s needs who took office in January, and the for both slice or full replacement. Democratic Party also wanted to be close to the governor’s office at 633 Third Ave. Call for more 1-888-447-7864 Visit HIPUSA.COM Landlord Rose Hill Property information: Associates/Brown Cos. represented itself in the lease.

* For new business on Select EPO/PPO only. Accredited by the National Committee for Quality Assurance (NCQA). A nationally recognized Other tenants at the 12-story ** Only applies to HIP Classic and Small Group HIP Select EPO/PPO products. evaluation that purchasers, regulators and consumers can use to assess managed care plans. building include public relations firm ® 2007 HIP Health Plan of New York. Commercial HMO and Commercial Point-of-Service plans. MacDonald Media and real estate company Tessler Developments. —julie satow

18 | Crain’s New York Business | May 28, 2007 CNYB 05-28-07 A 19 5/24/2007 1:54 PM Page 1

BIGGEST COMPANIES INSIDE THE TOP 250 publicly held companies in the NY area PAGES 21-31 “We have an excellent business and excellent potential for future growth.” —Mickey Gooch, GFI Group Inc., Page 20

options marketplace, which saw profits rise at a compounded rate of 40%. The ISE agreed last month to TOPS IN NET INCOME GROWTH Markets: be acquired by Deutsche Börse for $2.8 billion. Companies posting highest rates “Exchanges are where the ac- tion is,” observes Deutsche Bank among NY’s largest publicly held firms analyst Scott Appleby.“Volumes are 3-year Rank on where the high, and there are a ton of new net income Market ’07 list of growth capitalization top publicly products to trade. For an exchange, Rank Company/ticker symbol rate (in millions) held firms that’s perfect.” 1 Crystal River Capital Inc.1 (CRZ) +236.4% $657.3 242 profits are Anticipating long-term volume 2 AmTrust Financial Services Inc. (AFSI) +227.4% $717.7 194 judging by the stock prices com- 3 NorthStar Realty Finance Corp. (NRF) +179.8% $906.3 247 manded by the exchanges, inves- 4 Nymex Holdings Inc. (NMX) +159.3% $11,632.3 157 tors seem to believe that trading ac- 5 Arrow Electronics Inc. (ARW) +147.2% $4,900.3 Investors’ stakes in trading places tivity will remain robust for years to 25 come. Mr. Appleby is less sanguine. 6 Systemax Inc. (SYX) +141.5% $601.9 75 pay off; can growth continue? “One of the things about 7 Signature Bank2 (SBNY) +136.0% $933.5 224 forecasting volume growth 8 American Real Estate Partners (ACP) +124.8% $5,543.0 102 is that it’s fairly impossi- 9 Fortress Investment Group (FIG) +122.4% $11,645.5 100 BY AARON ELSTEIN ble to do,” he says. For the moment, at 10 Phillips-Van Heusen Corp. (PVH) +119.4% $3,122.0 85 eople who’ve invested in least, exchanges and 11 Navigators Group Inc. (NAVG) +111.4% $857.4 171 their management teams 12 Macquarie Infrastructure Company Trust (MIC) +105.8% $1,599.4 173 almost any market over the are thriving, thanks in 13 Volt Information Sciences Inc. (VOL) +93.9% $592.5 77 past three years have done large part to the growth 14 TAL International Group Inc. (TAL) +92.8% $831.8 nicely. But the real money has of new exotic products 210 15 Sequa Corp. (SQA.A) +85.8% $1,329.5 been made investing in the such as options, ex- 81 change-traded funds 16 Infocrossing Inc. (IFOX) +84.3% $351.9 232 marketplaces themselves. and derivatives. 17 Alpharma Inc. (ALO) +81.4% $1,335.8 156 The New York Mercantile 18 Tower Group Inc. (TWGP) +80.2% $613.2 212 Exchange, the International 19 J.P. Morgan Chase & Co. (JPM) +79.8% $177,988.8 3 Securities Exchange and a host of lesser- 20 Metalico Inc. (MEA) +73.4% $78.9 241 known trading places on Wall Street have 21 Pfizer Inc. (PFE) +70.4% $188,501.0 11 Pshown stellar gains in profitability, and 22 Viacom Inc. (VIA.B) +67.5% $28,594.5 32 their stock prices have risen accordingly. 23 Comtech Telecommunications Corp. (CMTL) +67.1% $875.8 192 Nymex—the world’s largest 24 GFI Group Inc. (GFIG) +61.6% $1,987.4 148 marketplace for oil, natural gas and 25 Aeroflex Inc. (ARXX) +61.5% $1,034.6 163 gold—saw profits soar at a compounded Net income growth rate: three-year compound growth rate based on four years of data that return a linear percent rate of growth. Restated data are used when available. Market capitalization: the closing stock price on April 30, annual rate of almost 160% over the 2007, multiplied by the number of common shares outstanding for the most recent quarter. 1-Income growth is expressed as a year-to-year change. 2-Historical data are used; restated data are not available. past three years as it shifted from a Source: Standard & Poor’s, a division of The McGraw-Hill Cos. member-owned cooperative to a publicly traded, for-profit enterprise, No one has benefited more net income and its share price have according to Standard & Poor’s data than Michael “Mickey” Gooch, nearly tripled. provided to Crain’s. NO MICKEY MOUSE OPERATION: founder and chief executive of GFI At the same time, technological MIckey Gooch’s GFI Group is one Group Inc., one of the biggest Not too shabby of the biggest marketplaces for marketplaces for credit derivatives, not bad for a British expatriate advances made possible the creation credit derivatives. His stake is worth $700 million. currency options, and bonds that who had been studying to be an ac- and growth of places like the comply with Islamic law. Since his countant before he broke into the International Securities Exchange, an company went public in 2005, its See MARKETS on Page 20

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REPORT BIGGEST COMPANIES

Markets: where the profits are TOPS IN SHAREHOLDER RETURNS Among NY’s largest publicly held firms Rank on 3-year total Market ’07 list of Continued from Page 19 commands a market share of 30%. nearly as much as Mr. Gooch is. return to capitalization top publicly trading business at age 19. “The firm is totally off the map International Securities Ex- Rank Company/ticker symbol shareholders (in millions) held firms “We have an excellent business so far as the general public is con- change co-founders David Krell 1 American Real Estate Partners (ACP) 441.1% $5,543.0 102 and excellent potential for future cerned, but GFI is quite well- and Gary Katz have become 2 M&F Worldwide Corp. (MFW) 414.9% $1,293.9 152 growth,” says Mr. Gooch, in that known on Wall Street,” says Brad wealthy since they launched their 3 WHX Corp. (WXCP) 413.2% $97.5 190 understated English fashion. Bailey,a senior analyst at consulting all-electronic exchange seven years 4 Great Atlantic & Pacific Tea Co. (GAP) 410.0% $1,336.1 43 GFI, whose initials stand for firm Aite Group and a former deriv- ago and revolutionized the options 5 United Retail Group Inc. (URGI) 376.9% $191.0 191 Gooch Financial Instruments, is a atives trader. trading business. Net income at 6 Celgene Corp. (CELG) 374.1% $22,998.3 133 brokerage firm that operates like an Since the firm was created in their firm hit $55 million last year, 7 Nasdaq Stock Market Inc. (NDAQ) 334.1% $3,657.1 96 exchange.It specializes in arranging on $210 million in revenues. 8 Cognizant Technology Solutions Corp. (CTSH) 313.3% $12,740.7 104 complex trades between big firms To build profits, The New York Stock Exchange 9 SL Green Realty Corp. (SLG) 277.8% $8,338.7 159 such as Goldman Sachs and cus- also recorded strong profits of 10 Systemax Inc. (SYX) 258.1% $601.9 75 tomers who want their moves to re- $205 million,thanks in large part to exchanges will 11 AEP Industries Inc. (AEPI) 256.4% $337.8 143 main secret. the company’s recent acquisitions 12 Comtech Telecommunications Corp. (CMTL) 250.9% $875.8 192 So while the typical investor of Archipelago and Paris-based 13 G-III Apparel Group Ltd. (GIII) 230.9% $247.7 185 might turn to the NYSE to get a likely acquire Euronext. 14 AllianceBernstein Holding (AB) 220.1% $7,783.3 quote on shares of IBM, a big Now the exchanges will need to 199 15 Phillips-Van Heusen Corp. (PVH) 213.9% $3,122.0 hedge-fund manager who wants to smaller markets diversify into new areas in order to 85 speculate that a Venezuelan oil ex- increase profits. They’ll probably 16 General Maritime Corp. (GMR) 203.7% $1,049.9 204 ploration company will default on start by acquiring smaller market- 17 Village Super Market Inc. (VLGEA) 189.0% $285.2 129 its debt might call a GFI broker, places, such as GFI. 18 Empire Resources Inc. (ERS) 185.1% $95.5 186 who will act as middleman. Mr. Gooch knows he could cash 19 Polo Ralph Lauren Corp. (RL) 169.4% $9,616.3 65 The arrangements might sound 1987, it has grown into a 1,400- out, but he says he’s in no hurry to 20 Vornado Realty Trust (VNO) 164.2% $18,015.7 69 arcane, but these sorts of prod- employee operation that generated sell. Meanwhile, he’s hunting for 21 Investment Technology Group Inc. (ITG) 164.1% $1,676.5 160 ucts,called credit derivatives, make net income of $61 million last year, new complicated things for his em- 22 Covanta Holding Corp. (CVA) 153.3% $3,619.7 112 up one of the fastest-growing areas or $2.09 a share, on revenues of al- ployees to trade. 23 Kimco Realty Corp. (KIM) 152.3% $12,110.7 135 of finance. Some $35 trillion of most $750 million. Mr. Gooch’s “We’re as likely to eat an ex- 24 BlackRock Inc. (BLK) 150.8% $17,426.4 83 credit derivative contracts are out- stake in the firm is now worth more change’s lunch as they are to eat 25 Loews Corp. (LTR) 150.4% $25,411.8 22 standing, up from zero a decade than $700 million. ours,”he says.“We have to figure out Total return to shareholders: reflects stock price appreciation plus reinvestment of monthly dividends and the com- pounding effect of dividends paid on reinvested dividends for the period of April 30, 2004, through April 30, 2007. ago, according to the Internation- Plenty of other exchange exec- how to have a dinner party.” Market capitalization: the closing stock price on April 30, 2007, multiplied by the number of common shares out- al Swaps and Derivatives Associa- utives are reaping their own for- standing for the most recent quarter. Source: Standard & Poor’s, a division of The McGraw-Hill Cos. tion. Analysts believe that GFI tunes, even if they’re not raking in COMMENTS? [email protected]

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20 | Crain’s New York Business | May 28, 2007 CNYB 05-28-07 A 21 5/24/2007 7:26 PM Page 1

REPORT BIGGEST COMPANIES NY Area’s Largest Publicly Held Companies Ranked by annual revenues

this list ranks by 2006 revenues the 250 on Long Island, or in one of four counties in McGraw-Hill Cos., from its database of year-earlier levels, industry and number of largest publicly held companies in the New northern New Jersey: Bergen, Essex, Hud- publicly held companies. employees. York area covered by Crain’s New York Business. son or Union. The list provides each company’s head- Results from previous years are provided Companies must have their headquarters The following information was compiled quarters address, phone, Web site, 2006 rev- for those companies for which 2006 infor- in New York City, in Westchester County, by Standard & Poor’s, a division of The enues and net income, percent change from mation is not available.

2006 2006 net revenues income Rank Company (Ticker symbol) Phone/Web site (in millions) % change (in millions) % change Industry/# of employees Citigroup Inc. (C) (212) 559-1000 $146,905.0 +22.7% $21,538.0 -12.4% Financial services 399 Park Ave., New York, NY 10043 www.citigroup.com 337,000

1 M American International Group Inc. (AIG) (212) 770-7000 $113,489.0 +4.7% $14,048.0 +34.1% Insurance 2 70 Pine St., New York, NY 10270 www.aigcorporate.com 16,000 J.P. Morgan Chase & Co. (JPM) (212) 270-6000 $99,302.0 +25.3% $14,444.0 +70.3% Financial services 3 270 Park Ave., New York, NY 10017 www.jpmorganchase.com 174,360 International Business Machines Corp. (IBM) (914) 499-1900 $91,424.0 +0.3% $9,492.0 +19.6% Computers and office products 4 1 New Orchard Road, Armonk, NY 10504 www.ibm.com 355,766 Verizon Communications Inc. (VZ) (212) 395-1000 $88,144.0 +26.8% $6,197.0 -16.2% Telecommunications 5 140 West St., New York, NY 10007 www.verizon.com 242,000 CITIGROUP Morgan Stanley 1 (MS) (212) 761-4000 $76,551.0 +47.0% $7,472.0 +51.3% Securities 6 1585 Broadway, New York, NY 10036 www.morganstanley.com 55,310 The world’s largest, Altria Group Inc. (MO) (917) 663-4000 $70,324.0 +2.0% $12,022.0 +15.2% Tobacco and food products most profitable bank 7 120 Park Ave., New York, NY 10017 www.altria.com 175,000 doesn’t get a lot of love Goldman Sachs Group Inc. 1 (GS) (212) 902-1000 $69,353.0 +59.8% $9,537.0 +69.5% Securities from Wall Street. If 8 85 Broad St., New York, NY 10004 www.goldmansachs.com 26,467 Chief Executive Charles Merrill Lynch & Co. (MER) (212) 449-1000 $68,622.0 +43.6% $7,499.0 +46.6% Securities Prince doesn’t lift the 9 4 World Financial Center, New York, NY 10080 www.ml.com 56,200 giant’s chronically MetLife Inc. (MET) (212) 578-2211 $48,396.0 +8.3% $6,293.0 +33.5% Insurance underperforming stock 10 200 Park Ave., New York, NY 10166 www.metlife.com 47,000 price soon, he could be Pfizer Inc. (PFE) (212) 573-2323 $48,201.0 +1.7% $19,337.0 +139.2% Pharmaceuticals ousted or the company 11 235 E. 42nd St., New York, NY 10017 www.pfizer.com 98,000 broken up. Lehman Brothers Holdings Inc. 1 (LEH) (212) 526-7000 $46,709.0 +44.1% $4,007.0 +22.9% Securities 12 745 Seventh Ave., New York, NY 10019 www.lehman.com 25,936 Time Warner Inc. (TWX) (212) 484-8000 $44,224.0 +4.3% $6,552.0 +145.3% Entertainment media online services 13 1 Time Warner Center, New York, NY 10019 www.timewarner.com 92,700 Medco Health Solutions Inc. (MHS) (201) 269-3400 $42,498.7 +12.2% $630.2 +4.7% Pharmacy benefits management 14 100 Parsons Pond Drive, Franklin Lakes, NJ 07417 www.medco.com 15,700 PepsiCo Inc. (PEP) (914) 253-2000 $35,137.0 +7.9% $5,642.0 +38.4% Food and beverage products 15 700 Anderson Hill Road, Purchase, NY 10577 www.pepsico.com 168,000 Prudential Financial Inc. (PRU) (973) 802-6000 $32,484.0 +2.7% $3,428.0 -3.2% Insurance 16 751 Broad St., Newark, NJ 07102 www.prudential.com 39,814 Alcoa Inc. (AA) (212) 836-2674 $30,379.0 +18.8% $2,248.0 +82.3% Alumina and aluminum products 17 390 Park Ave., New York, NY 10022 www.alcoa.com 123,000 NEWS CORP. Hess Corp. (HES) (212) 997-8500 $28,067.0 +23.4% $1,916.0 +54.3% Petroleum It’s never dull in the 18 1185 Sixth Ave., New York, NY 10036 www.hess.com 13,700 world of Rupert American Express Co. (AXP) (212) 640-2000 $27,136.0 +12.7% $3,707.0 -0.7% Financial services Murdoch. Last week’s 19 200 Vesey St., New York, NY 10285 www.americanexpress.com 65,400 big story: Will the 2 News Corp. (NWS.A) (212) 852-7000 $25,327.0 +6.2% $2,314.0 +8.7% Entertainment and media scandal engulfing 1211 Sixth Ave., New York, NY 10036 www.newscorp.com 47,300 20 M the New York Post’s Bristol-Myers Squibb Co. (BMY) (212) 546-4000 $17,914.0 -6.7% $1,585.0 -47.2% Pharmaceuticals 345 Park Ave., New York, NY 10154 www.bms.com 43,000 Page Six foil his bid to 21 acquire the august Wall Loews Corp. (LTR) (212) 521-2000 $17,203.5 +12.1% $2,491.3 +105.6% Holding company 22 667 Madison Ave., New York, NY 10021 www.loews.com 21,600 Street Journal? And will Bear Stearns Cos. 1 (BSC) (212) 272-2000 $16,551.4 +43.3% $2,053.9 +40.5% Securities Fox News’ coverage of 23 383 Madison Ave., New York, NY 10179 www.bearstearns.com 13,566 the flap be fair and CBS Corp. (CBS) (212) 975-4321 $14,320.2 +1.5% $1,660.5 n/m Entertainment and media balanced? 24 51 W. 52nd St., New York, NY 10019 www.cbscorporation.com 23,654 Arrow Electronics Inc. (ARW) (631) 847-2000 $13,577.1 +21.6% $388.3 +53.1% Electronics 25 50 Marcus Drive, Melville, NY 11747 www.arrow.com 12,000 Pepsi Bottling Group Inc. (PBG) (914) 767-6000 $12,730.0 +7.1% $522.0 +12.0% Beverages 26 1 Pepsi Way, Somers, NY 10589 www.pbg.com 70,400 L-3 Communications Holdings Inc. (LLL) (212) 697-1111 $12,476.9 +32.1% $526.1 +3.5% Communication systems 27 600 Third Ave., New York, NY 10016 www.l-3com.com 63,700 Colgate-Palmolive Co. (CL) (212) 310-2000 $12,237.7 +7.4% $1,353.4 +0.1% Health and beauty aids 28 300 Park Ave., New York, NY 10022 www.colgate.com 34,700 Public Service Enterprise Group Inc. (PEG) (973) 430-7000 $12,164.0 0.0% $743.0 +11.7% Electric and gas utility 29 80 Park Plaza, Newark, NJ 07102 www.pseg.com 9,836 CON ED Consolidated Edison Inc. (ED) (212) 460-4600 $12,137.0 +4.3% $748.0 +2.5% Electric and gas utility CEO Kevin Burke 4 Irving Place, New York, NY 10003 www.conedison.com 14,795 30 M can’t be having fun. Marsh & McLennan Cos. (MMC) (212) 345-5000 $11,921.0 +3.0% $990.0 +145.0% Insurance 1166 Sixth Ave., New York, NY 10036 www.mmc.com 55,200 After being blasted by 31 regulators for last Viacom Inc. (VIA.B) (212) 258-6000 $11,466.5 +19.3% $1,592.1 +26.7% Film production and cable television 32 1515 Broadway, New York, NY 10036 www.viacom.com 10,600 summer’s blackout in Omnicom Group Inc. (OMC) (212) 415-3600 $11,376.9 +8.5% $864.0 +9.3% Advertising agencies Queens, the utility is 33 437 Madison Ave., New York, NY 10022 www.omnicomgroup.com 66,000 asking for a hefty rate Schering-Plough Corp. (SGP) (908) 298-4000 $10,547.0 +10.9% $1,143.0 +324.9% Pharmaceuticals hike—presumably to 34 2000 Galloping Hill Road, Kenilworth, NJ 07033 www.schering-plough.com 33,500 make prolonged Bank of New York Co. (BK) (212) 495-1784 $9,062.0 +23.0% $3,011.0 +91.7% Banking outages less frequent. 1 Wall St., New York, NY 10286 www.bankofny.com 22,961 35 bloomberg news Continued

May 28, 2007 | Crain’s New York Business | 21 CNYB 05-28-07 A 22 5/24/2007 7:28 PM Page 1

REPORT BIGGEST COMPANIES

2006 2006 net revenues income Rank Company (Ticker symbol) Phone/Web site (in millions) % change (in millions) % change Industry/# of employees Automatic Data Processing Inc. 2 (ADP) (973) 974-5000 $8,881.5 +11.2% $1,554.0 +47.2% Data processing 36 1 ADP Blvd., Roseland, NJ 07068 www.adp.com 46,000 Avon Products Inc. (AVP) (212) 282-5000 $8,763.9 +7.5% $477.6 -43.7% Health and beauty aids 37 1345 Sixth Ave., New York, NY 10105 www.avoncompany.com 40,300 Hertz Global Holdings Inc. (HTZ) (201) 307-2000 $8,058.4 +7.9% $115.9 -66.9% Trucking 38 225 Brae Blvd., Park Ridge, NJ 07656 www.hertz.com 31,500 Assurant Inc. (AIZ) (212) 859-7000 $7,963.2 +6.8% $717.4 +49.7% Insurance 1 Chase Manhattan Plaza, New York, NY 10005 www.assurant.com 13,400 ASSURANT

39 M ITT Corp. (ITT) (914) 641-2000 $7,807.9 +10.9% $581.1 +61.6% Defense systems and services The insurance 40 4 W. Red Oak Lane, White Plains, NY 10604 www.itt.com 37,500 company, whose KeySpan Corp. (KSE) (718) 403-1000 $7,181.6 -6.3% $434.2 +11.3% Electric and gas utility premiums increased 41 1 MetroTech Center, Brooklyn, NY 11201 www.keyspanenergy.com 9,594 only 2% last year, is CIT Group Inc. (CIT) (212) 771 0505 $6,927.7 +26.6% $1,046.0 +10.2% Commercial and consumer finance running hard but still 42 505 Fifth Ave., New York, NY 10017 www.cit.com 7,345 can’t get ahead. A key 3 Great Atlantic & Pacific Tea Co. (GAP) (201) 573-9700 $6,850.3 -21.6% $26.9 -93.2% Grocery stores business is distributing 43 2 Paragon Drive, Montvale, NJ 07645 www.aptea.com 38,000 3 credit insurance Bed Bath & Beyond Inc. (BBBY) (908) 688-0888 $6,617.4 +13.9% $594.2 +3.7% Domestic goods, home furnishings through credit card 650 Liberty Ave., Union, NJ 07083 www.bedbathandbeyond.com 35,000 44 companies. But Dover Corp. (DOV) (212) 922-1640 $6,511.6 +22.1% $561.8 +10.1% Industrial equipment 45 280 Park Ave., New York, NY 10017 www.dovercorporation.com 33,000 Assurant has little room Estée Lauder Cos. 2 (EL) (212) 572-4200 $6,463.8 +2.9% $244.2 -39.9% Health and beauty aids to grow, because it 46 767 Fifth Ave., New York, NY 10153 www.elcompanies.com 26,200 already counts six of IAC/InterActiveCorp (IACI) (212) 314-7300 $6,277.6 +15.9% $192.6 -78.0% Television and Internet interests the 10 largest U.S. card 47 152 W. 57th St., New York, NY 10019 www.iac.com 20,000 issuers as customers. Quest Diagnostics Inc. (DGX) (201) 393-5000 $6,268.7 +14.9% $586.4 +7.3% Medical laboratories 48 1290 Wall St. West, Lyndhurst, NJ 07071 www.questdiagnostics.com 41,000 McGraw-Hill Cos. (MHP) (212) 512-2000 $6,255.1 +4.2% $882.2 +4.5% Publishing and information services 49 1221 Sixth Ave., New York, NY 10020 www.mcgraw-hill.com 20,214 Interpublic Group of Companies Inc. (IPG) (212) 704-1200 $6,190.8 -1.3% ($31.7) n/m Advertising agencies 50 1114 Sixth Ave., New York, NY 10036 www.interpublic.com 42,000 Starwood Hotels & Resorts Worldwide Inc. (HOT) (914) 640-8100 $5,979.0 0.0% $1,043.0 +147.2% Hotels 51 1111 Westchester Ave., White Plains, NY 10604 www.starwoodhotels.com 145,000 Cablevision Systems Corp. (CVC) (516) 803-2300 $5,927.5 +14.6% ($126.5) n/m Cable and pay television 52 1111 Stewart Ave., Bethpage, NY 11714 www.cablevision.com 16,218 Becton Dickinson & Co. 4 (BDX) (201) 847-6800 $5,840.2 +7.9% $752.3 +4.2% Medical equipment and supplies 53 1 Becton Drive, Franklin Lakes, NJ 07417 www.bd.com 26,990 Foot Locker Inc. 5 (FL) (212) 720-3700 $5,750.0 +1.7% $251.0 -4.9% Shoe stores 54 112 W. 34th St., New York, NY 10120 www.footlocker-inc.com 45,406 Asbury Automotive Group Inc. (ABG) (212) 885-2500 $5,748.3 +6.2% $60.7 -0.5% Auto dealerships 55 622 Third Ave., New York, NY 10017 www.asburyauto.com 8,300 Barnes & Noble Inc. 5 (BKS) (212) 633-3300 $5,261.3 +3.1% $150.5 +2.6% Bookstores 56 122 Fifth Ave., New York, NY 10011 www.barnesandnobleinc.com 39,000 Henry Schein Inc. (HSIC) (631) 843-5500 $5,153.1 +11.2% $163.8 +17.2% Medical and hospital equipment 57 135 Duryea Road, Melville, NY 11747 www.henryschein.com 11,400 Liz Claiborne Inc. (LIZ) (212) 354-4900 $4,994.3 +3.0% $254.7 -19.8% Apparel 58 1441 Broadway, New York, NY 10018 www.lizclaiborne.com 17,000 Jones Apparel Group Inc. (JNY) (212) 642-3860 $4,742.8 -6.5% ($144.1) n/m Apparel 59 1411 Broadway, New York, NY 10018 www.jny.com 16,485 Sealed Air Corp. (SEE) (201) 791-7600 $4,327.9 +5.9% $274.1 +7.2% Packaging 60 200 Riverfront Blvd., Elmwood Park, NJ 07407 www.sealedair.com 17,400 Transatlantic Holdings Inc. (TRH) (212) 770-2000 $4,049.5 +7.5% $428.2 +1,029.4% Insurance 61 80 Pine St., New York, NY 10005 www.transre.com 515 E*Trade Financial Corp. (ETFC) (646) 521-4300 $3,848.4 +51.0% $628.9 +46.1% Financial services E*TRADE 135 E. 57th St., New York, NY 10022 www.etrade.com 4,126

62 M The online discount Jarden Corp. (JAH) (914) 967-9400 $3,846.3 +20.6% $106.0 +74.6% Consumer products stockbroker has 63 555 Theodore Fremd Ave., Rye, NY 10580 www.jarden.com 20,000 grabbed the holy grail CA Inc. 6 (CA) (631) 342-6000 $3,796.0 +5.4% $159.0 +562.5% Software 1 Computer Associates Plaza, Islandia, NY 11749 www.ca.com 16,000 of financial services— 64 diversification—and Polo Ralph Lauren Corp. 6 (RL) $3,746.3 (212) 318-7000 +13.3% $308.0 +61.8% Apparel more 65 650 Madison Ave., New York, NY 10022 www.polo.com 12,800 now gets Warner Music Group Corp. 4 (WMG) (212) 275-2000 $3,516.0 +0.4% $60.0 n/m Record labels revenues from 66 75 Rockefeller Plaza, New York, NY 10019 www.wmg.com 4,000 banking than it does MasterCard Inc. (MA) (914) 249-2000 $3,326.1 +13.2% $50.2 -81.2% Payment solutions from its brokerage 67 2000 Purchase St., Purchase, NY 10577 www.mastercard.com 4,600 business. New York Times Co. (NYT) (212) 556-1234 $3,289.9 +1.8% ($543.4) n/m Publishing 68 229 W. 43rd St., New York, NY 10036 www.nytco.com 11,585 Vornado Realty Trust (VNO) (212) 894-7000 $2,974.0 +7.9% $560.1 +3.8% Real estate investment trust 69 888 Seventh Ave., New York, NY 10019 www.vno.com 3,477

Rank Rank on 2007 on 2007 TOP 10 Marketpublicly Marketpublicly Company (Ticker symbol) capitalization held list Company (Ticker symbol) capitalization held list

IN EQUITY 1 Citigroup Inc. (C) $265,255.9 1 6 Altria Group Inc. (MO) $144,530.8 7 MARKET 2 Pfizer Inc. (PFE) $188,501.0 11 7 Verizon Communications Inc. (VZ) $110,850.4 5 CAPITALIZATION 3 American International Group Inc. (AIG) $181.849.6 2 8 PepsiCo Inc. (PEP) $107,792.8 15 4 J.P. Morgan Chase & Co. (JPM) $177,988.8 3 9 Goldman Sachs Group Inc. (GS) $89,918.0 8 5 International Business Machines Corp. (IBM) $151,764.2 4 10 Morgan Stanley (MS) $89,188.7 6 Market capitalization is the closing stock price on April 30, 2007, multiplied by the number of common shares outstanding for the most recent quarter. Source: Standard & Poor’s, a division of The McGraw-Hill Cos.

22 | Crain’s New York Business | May 28, 2007 CNYB 05-28-07 A 23 5/24/2007 7:30 PM Page 1

REPORT BIGGEST COMPANIES

2006 2006 net revenues income Rank Company (Ticker symbol) Phone/Web site (in millions) % change (in millions) % change Industry/# of employees Forest Laboratories Inc. 6 (FRX) (212) 421-7850 $2,912.1 -6.5% $708.5 -15.5% Pharmaceuticals 70 909 Third Ave., New York, NY 10022 www.frx.com 5,050 MBIA Inc. (MBI) (914) 273-4545 $2,680.5 +19.2% $819.3 +15.2% Insurance 71 113 King St., Armonk, NY 10504 www.mbia.com 492 Tiffany & Co. 5 (TIF) (212) 755-8000 $2,648.3 +10.6% $253.9 -0.3% Jewelry stores 72 727 Fifth Ave., New York, NY 10022 www.tiffany.com 8,900 NYSE Group Inc. (NYX) (212) 656-3000 $2,412.3 +44.6% $205.0 +403.0% Stock market 11 Wall St., New York, NY 10005 www.nyse.com 2,578

73 M JetBlue Airways Corp. (JBLU) (718) 286-7900 $2,363.0 +38.9% ($1.0)n/m Airline 74 118-29 Queens Blvd., Forest Hills, NY 11375 www.jetblue.com 10,624 NYSE Systemax Inc. (SYX) (516) 608-7000 $2,345.2 +10.9% $45.1 +294.6% Computers and related products 75 11 Harbor Park Drive, Port Washington, NY 11050 www.systemax.com 3,287 Now that Chief Ann Taylor Stores Corp. 5 (ANN) (212) 541-3300 $2,342.9 +13.0% $143.0 +74.6% Apparel stores Executive John Thain 76 7 Times Square, New York, NY 10036 www.anntaylor.com 17,700 has opened up the Volt Information Sciences Inc. 7 (VOL) (212) 704-2400 $2,338.5 +7.4% $30.7 +79.9% Help supply services NYSE to the computer 77 560 Lexington Ave., New York, NY 10022 www.volt.com 46,000 age and expanded into Scholastic Corp. 8 (SCHL) (212) 343-6100 $2,283.8 +9.8% $68.6 +6.7% Publishing bond and options 78 557 Broadway, New York, NY 10012 www.scholastic.com 10,400 trading, what does the 9 IDT Corp. (IDT) (973) 438-1000 $2,226.4 +0.2% ($178.7)n/m Telecommunications future hold? Futures www.idt.net 3,000 79 520 Broad St., Newark, NJ 07102 trading, perhaps. American Home Mortgage Investment Corp. (AHM) (516) 949-3900 $2,189.9 +65.6% $263.5 +1.1% Real estate investment trust 538 Broadhollow Road, Melville, NY 11747 www.americanhm.com 7,409 Analysts say he would 80 love to buy the New Sequa Corp. (SQA.A) (212) 986-5500 $2,183.8 +9.3% $65.6 +140.1% Aerospace 81 200 Park Ave., New York, NY 10166 www.sequa.com 10,155 York Mercantile Coach Inc. 2 (COH) (212) 594-1850 $2,111.5 +23.4% $494.3 +37.8% Leather products Exchange or 82 516 W. 34th St., New York, NY 10001 www.coach.com 7,500 Intercontinental BlackRock Inc. (BLK) (212) 810-5300 $2,098.0 +76.1% $322.6 +37.9% Investment advice Exchange. 83 40 E. 52nd St., New York, NY 10022 www.blackrock.com 5,113 International Flavors & Fragrances Inc. (IFF) (212) 765-5500 $2,095.4 +5.1% $226.5 +17.3% Artificial flavors and aromas 84 521 W. 57th St., New York, NY 10019 www.iff.com 5,087 Phillips-Van Heusen Corp. 5 (PVH) (212) 381-3500 $2,090.6 +9.5% $155.2 +39.0% Apparel 85 200 Madison Ave., New York, NY 10016 www.pvh.com 10,900 Moody’s Corp. (MCO) (212) 553-0300 $2,037.1 +17.6% $753.9 +34.4% Credit rating agency 86 99 Church St., New York, NY 10007 www.moodys.com 3,400 Children’s Place Retail Stores Inc. 5 (PLCE) (201) 558-2400 $2,017.7 +20.9% $84.6 +29.0% Apparel stores 87 915 Secaucus Road, Secaucus, NJ 07094 www.childrensplace.com 21,400 Continued

What’s it like to work with people who love what they do? The results are now in!

Our annual Service Quality Measurement Survey results are in. The results show, once again, that the people of Grant Thornton bring a passion to everything they do. The survey measured the audit and tax service attributes most important to clients in assessing satisfaction. Clients ranked Grant Thornton higher in satisfaction than the averages of the top 50 firms and of the Big 4.*

With Grant Thornton you get easy access to partners that’s been the hallmark of Grant Thornton in the U.S. for 80 years. And you get the benefit of Grant Thornton International member firms in 110 countries, that fast-growth companies look for in today’s global markets.

Why not give our New York Metro Office Managing Partner, Jack Katz, a call at 212.542.9827 or contact him at [email protected]?

Find out how it feels to work with people who love what they do!

* Based on 2005 Grant Thornton client satisfaction study and independent client satisfaction research survey sent to clients of the Big 4 and Top 50 U.S. accounting firms. For details visit www.GrantThornton.com/GTSurvey2005.

May 28, 2007 | Crain’s New York Business | 23 CNYB 05-28-07 A 24 5/24/2007 7:31 PM Page 1

REPORT BIGGEST COMPANIES

2006 2006 net revenues income Rank Company (Ticker symbol) Phone/Web site (in millions) % change (in millions) % change Industry/# of employees Pall Corp. 9 (PLL) (516) 484-5400 $2,016.8 +6.0% $145.5 +3.3% Industrial equipment 88 2200 Northern Blvd., East Hills, NY 11548 www.pall.com 10,828 C.R. Bard Inc. (BCR) (908) 277-8000 $1,985.5 +11.6% $272.1 -19.3% Medical equipment and supplies 89 730 Central Ave., Murray Hill, NJ 07974 www.crbard.com 9,400 Jefferies Group Inc. (JEF) (212) 284-2300 $1,963.2 +31.1% $205.8 +30.7% Securities 90 520 Madison Ave., New York, NY 10022 www.jefco.com 2,254 Broadridge Financial Solutions Inc. 2 (BR) (201) 714-3000 $1,949.5 +12.9% $166.7 +0.8% Data processing 91 2 Journal Square Plaza, Jersey City, NJ 07306 www.broadridge.com n/a NBTY Inc. 4 (NTY) (631) 567-9500 $1,880.2 +8.2% $111.8 +43.1% Pharmaceuticals 92 90 Orville Drive, Bohemia, NY 11716 www.nbty.com 10,900 Ambac Financial Group Inc. (ABK) (212) 668-0340 $1,832.1 +13.5% $875.9 +16.6% Insurance 93 1 State Street Plaza, New York, NY 10004 www.ambac.com 359 Warnaco Group Inc. (WRNC) (212) 287-8000 $1,827.5 +23.8% $50.8 +2.5% Apparel WARNACO 501 Seventh Ave., New York, NY 10018 www.warnaco.com 10,287

94 M Dow Jones & Co. (DJ) (212) 416-2000 $1,783.9 +6.6% $386.6 +540.1% Information services Nothing comes 95 200 Liberty St. Tower A, New York, NY 10281 www.dowjones.com 7,400 between Asians and Nasdaq Stock Market Inc. (NDAQ) (212) 401-8700 $1,657.8 +88.4% $127.9 +107.3% Electronic stock market Europeans and their 96 1 Liberty Plaza, New York, NY 10006 www.nasdaq.com 898 Calvin Kleins—and that Griffon Corp. 4 (GFF) (516) 938-5544 $1,636.6 +16.7% $51.8 +6.1% Specialty building products, systems has helped drive up 97 100 Jericho Quadrangle, Jericho, NY 11753 www.griffoncorp.com 5,700 Warnaco shares 81% in Hudson City Bancorp Inc. (HCBK) (201) 967-1900 $1,621.1 +36.6% $288.6 +4.5% Banking the past 12 months. 98 West 80 Century Road, Paramus, NJ 07652 www.hcsbonline.com 1,319 Based on the most- Dun & Bradstreet Corp. (DNB) (973) 921-5500 $1,531.3 +6.1% $240.7 +8.8% Information services current information on www.dnb.com 4,400 99 103 JFK Parkway, Short Hills, NJ 07078 management holdings, Fortress Investment Group (FIG) (212) 798-6100 $1,521.3 +45.8% $442.9 +129.9% Financial services 1345 Sixth Ave., New York, NY 10105 www.fortressinv.com 500 the stock price makes 100 Joseph Gromek, who New York Community Bancorp Inc. (NYB) (516) 683-4100 $1,505.6 +18.5% $232.6 -20.4% Banking 101 615 Merrick Ave., Westbury, NY 11590 www.mynycb.com 2,431 has been chief American Real Estate Partners (ACP) (212) 702-4300 $1,477.9 +64.0% $798.8 n/m Building operator executive since 2003, a 102 767 Fifth Ave., New York, NY 10153 www.areplp.com 13,370 $10 million man. Atlas Air Worldwide Holdings Inc. (AAWW) (914) 701-8000 $1,476.3 -8.8% $59.8 -19.1% Airline 103 2000 Westchester Ave., Purchase, NY 10577 www.atlasair.com 1,840 Cognizant Technology Solutions Corp. (CTSH) (201) 801-0233 $1,424.3 +60.8% $232.8 +40.0% Software 104 500 Glenpointe Centre West, Teaneck, NJ 07666 www.cognizant.com 38,800 Aéropostale Inc. 5 (ARO) (646) 485-5398 $1,413.2 +17.3% $106.6 +27.0% Apparel stores 105 112 W. 34th St., New York, NY 10120 www.aeropostale.com 10,756 Hudson Highland Group Inc. (HHGP) (212) 351-7300 $1,373.5 +0.6% $22.1 +10,902.5% Executive search and staffing 106 560 Lexington Ave., New York, NY 10022 www.hhgroup.com 3,600 Revlon Inc. (REV) (212) 527-4000 $1,331.4 -0.1% ($251.3) n/m Health and beauty aids 107 237 Park Ave., New York, NY 10017 www.revloninc.com 6,000 MSC Industrial Direct Co. 10 (MSM) (516) 812-2000 $1,317.5 +19.8% $136.4 +21.5% Industrial products 108 75 Maxess Road, Melville, NY 11747 www.mscdirect.com 3,775 2 Barr Pharmaceuticals Inc. (BRL) (201) 930-3300 $1,314.5 +25.5% $336.5 +56.5% Pharmaceuticals WEIGHT WATCHERS 109 400 Chestnut Ridge Road, Woodcliff Lake, NJ 07677 www.barrlabs.com 2,040 Universal American Financial Corp. (UHCO) (914) 934-5200 $1,305.1 +52.3% $119.3 +121.4% Insurance Talk about loading up 110 6 International Drive, Rye Brook, NY 10573 www.uafc.com 4,100 the plate: In the first Curtiss-Wright Corp. (CW) (973) 597-4700 $1,282.2 +13.4% $80.6 +7.0% Aerospace and defense quarter, the weight-loss 111 4 Becker Farm Road, Roseland, NJ 07068 www.curtisswright.com 6,233 counseling and food- Covanta Holding Corp. (CVA) (973) 882-9000 $1,268.5 +29.6% $105.8 +78.3% Insurance marketing company 112 40 Lane Road, Fairfield, NJ 07004 www.covantaholding.com 3,300 added nearly $1 billion Triarc Cos. (TRY.B) (212) 451-3000 $1,243.3 +70.9% ($11.3) n/m Restaurant franchisor in long-term debt for a 113 280 Park Ave., New York, NY 10017 www.triarc.com 24,372 stock buyback. On Weight Watchers International Inc. (WTW) (212) 589-2700 $1,233.3 +7.1% $209.8 +20.3% Weight-loss services the other hand, 11 Madison Ave., New York, NY 10010 www.weightwatchersinternational.com 47,000 114 M international results Alleghany Corp. (Y) $1,209.2 (212) 752-1356 +10.3% $251.2 +380.1% Insurance, mineral products are finally improving, so 115 7 Times Square Plaza, New York, NY 10036 www.alleghany.com 1,411 Annaly Capital Management Inc. (NLY) (212) 696-0100 $1,202.7 +99.0% $93.8 n/m Real estate investment trust maybe the shares won’t 116 1211 Sixth Ave., New York, NY 10036 www.annaly.com 34 give investors a bloated New York & Company Inc. 5 (NWY) (212) 884-2000 $1,193.2 +5.5% $46.2 -21.1% Apparel stores feeling. 117 450 W. 33rd St., New York, NY 10001 www.nyandcompany.com 8,606 Astoria Financial Corp. (AF) (516) 327-3000 $1,183.6 -0.1% $174.9 -25.2% Banking 118 1 Astoria Federal Plaza, Lake Success, NY 11042 www.astoriafederal.com 1,626 BioScrip Inc. (BIOS) (914) 460-1600 $1,152.5 +7.4% ($38.3) n/m Pharmacy benefits management 119 100 Clearbrook Road, Elmsford, NY 10523 www.bioscrip.com 867 J. Crew Group Inc. 5 (JCG) (212) 209-2500 $1,152.1 +20.9% $77.8 +1,950.1% Apparel stores 120 770 Broadway, New York, NY 10003 www.jcrew.com 7,600 Monster Worldwide Inc. (MNST) (212) 351-7000 $1,116.7 +36.5% $37.1 -62.2% Online career services, advertising 121 622 Third Ave., New York, NY 10017 www.monsterworldwide.com 4,900

1997 rank Company 1996 revenues (millions) 2002 rank Company 2001 revenues (millions) 1 International Business Machines Corp. $75,947.0 1 Citigroup Inc. $112,022.0 FLASHBACK 2 Philip Morris Cos. $54,553.0 2 International Business Machines Corp. $85,866.0 3 AT&T Corp. $52,184.0 3 Philip Morris Cos. $72,944.0 10 LARGEST 4 Texaco Inc. $45,500.0 4 Verizon Communications Inc. $67,190.0 COMPANIES 5 PepsiCo Inc. $31,645.0 5 American International Group Inc. $62,402.0 6 Citicorp Inc. $28,818.0 6 AT&T Corp. $52,550.0 ON PAST 7 American International Group Inc. $28,105.9 7 J.P. Morgan Chase & Co. $50,429.0 8 Chase Manhattan Corp. $25,000.0 8 Morgan Stanley Dean Witter & Co. $43,727.0 5 YEARS AGO CRAIN’S LISTS 10 YEARS AGO 9 Merrill Lynch & Co. $24,856.0 9 Merrill Lynch & Co. $38,757.0 10 Lucent Technologies Inc. $23,286.0 10 AOL Time Warner Inc. $38,234.0

24 | Crain’s New York Business | May 28, 2007 CNYB 05-28-07 A 25 5/24/2007 7:33 PM Page 1

REPORT BIGGEST COMPANIES

2006 2006 net revenues income Rank Company (Ticker symbol) Phone/Web site (in millions) % change (in millions) % change Industry/# of employees Gentiva Health Services Inc. (GTIV) (631) 501-7000 $1,104.7 +27.7% $20.8 -11.1% Home health care services 122 3 Huntington Quadrangle, Melville, NY 11747 www.gentiva.com 15,650 Emdeon Corp. (HLTH) (201) 703-3400 $1,098.6 +7.0% $767.7 +952.1% Health care services 123 669 River Drive, Elmwood Park, NJ 07407 www.emdeon.com 2,260 National Financial Partners Corp. (NFP) (212) 301-4000 $1,077.1 +20.8% $57.6 +2.5% Financial services 124 787 Seventh Ave., New York, NY 10019 www.nfp.com 2,642 Minerals Technologies Inc. (MTX) (212) 878-1800 $1,059.3 +6.9% $50.0 -6.2% Mineral products 125 405 Lexington Ave., New York, NY 10174 www.mineralstech.com 2,809 Overseas Shipholding Group Inc. (OSG) $1,047.4 (212) 953-4100 +4.7% $392.7 -15.5% Shipping bloomberg news 126 666 Third Ave., New York, NY 10017 www.osg.com 3,980 11 TAKE-TWO John Wiley & Sons Inc. (JW.A) (201) 748-6000 $1,044.2 +7.2% $110.3 +31.6% Publishing INTERACTIVE 127 111 River St., Hoboken, NJ 07030 www.wiley.com 3,600 Take-Two Interactive Software Inc. 7 (TTWO) (646) 536-2842 $1,037.8 -13.6% ($184.9) n/m Software The video game 622 Broadway, New York, NY 10012 www.take2games.com 2,020 publisher that 128 M Village Super Market Inc. 9 (VLGEA) (973) 467-2200 $1,016.8 +3.4% $16.5 +6.1% Grocery stores created Grand Theft 129 733 Mountain Ave., Springfield, NJ 07081 www.shoprite.com 4,400 Auto has a new iStar Financial Inc. (SFI) (212) 930-9400 $992.6 +25.2% $374.8 +32.7% Real estate investment trust management team 130 1114 Sixth Ave., New York, NY 10036 www.istarfinancial.com 214 after a group of hedge Knight Capital Group Inc. (NITE) (201) 222-9400 $951.2 +49.9% $158.3 +138.6% Securities funds forced out the old 545 Washington Blvd., Jersey City, NJ 07310 www.knight.com 844 131 regime. Cleaning up the Six Flags Inc. (SIX) (212) 652-9403 $945.7 -1.2% ($305.6) n/m Amusement parks 1540 Broadway, New York, NY 10036 www.sixflags.com 35,500 accounting and 132 marketing problems Celgene Corp. (CELG) (908) 673-9000 $898.9 +67.4% $69.0 +8.4% Biotechnology 133 86 Morris Ave., Summit, NJ 07901 www.celgene.com 1,287 should be a Scientific Games Corp. (SGMS) (212) 754-2233 $897.2 +14.6% $66.8 -11.4% Wagering and lottery systems straightforward 134 750 Lexington Ave., New York, NY 10022 www.scientificgames.com 5,500 endeavor. Keeping the Kimco Realty Corp. (KIM) (516) 869-9000 $891.8 +22.8% $428.3 +17.8% Real estate investment trust game creators who 135 3333 New Hyde Park Road, New Hyde Park, NY 11042 www.kimcorealty.com 618 hold the key to the Paxar Corp. 12 (PXR) (914) 697-6800 $880.8 +8.9% $56.8 +147.0% Retail merchandising systems company’s success 136 105 Corporate Park Drive, White Plains, NY 10604 www.paxar.com 12,100 happy? Not so much. National Medical Health Card Systems Inc. 2 (NMHC) (516) 605-6625 $862.9 +7.8% $9.7 -22.0% Pharmacy benefits management 137 26 Harbor Park Drive, Port Washington, NY 11050 www.nmhc.com 458 Primedia Inc. (PRM) (212) 745-0100 $849.3 +3.4% $38.3 -93.2% Publishing 138 745 Fifth Ave., New York, NY 10151 www.primedia.com 2,800 Bisys Group Inc. 13 (BSG) (973) 461-2500 $842.9 -1.0% $232.2 +3,701.6% Data processing 139 105 Eisenhower Parkway, Roseland, NJ 07068 www.bisys.com 5,000 Continued

JOE TORRE ON THE ART OF MANAGING “Teamwork takes everybody.”

“A team approach to client service has been a J.H. Cohn business strategy since 1919. And teamwork doesn’t just happen. It takes hiring team players at every position, men and women inclined to collaborate, share ideas, succeed as a team.” As the largest regional accounting and consulting firm in the New York area, it’s a strategy in which we have confidence. How Are You Managing? SM

Major offices in New York and throughout New Jersey www.jhcohn.com 1-877-704-3500

May 28, 2007 | Crain’s New York Business | 25 nb22p26.qxp 5/24/2007 8:11 PM Page 1

REPORT BIGGEST COMPANIES

2006 2006 net revenues income Rank Company (Ticker symbol) Phone/Web site (in millions) % change (in millions) % change Industry/# of employees Bowne & Co. (BNE) (212) 924-5500 $832.2 +24.8% ($1.8) n/m Commercial printing 140 55 Water St., New York, NY 10041 www.bowne.com 3,200 Leucadia National Corp. (LUK) (212) 460-1900 $827.8 +20.0% $189.4 -88.4% Insurance 141 315 Park Ave. South, New York, NY 10010 www.leucadia.com 1,323 Standard Motor Products Inc. (SMP) (718) 392-0200 $812.0 -2.2% $9.4 n/m Motor vehicle parts 37-18 Northern Blvd., Long Island City, NY 11101 www.smpcorp.com 4,000

142 ▼ AEP Industries Inc. 7 (AEPI) (201) 641-6600 $802.1 +9.5% $62.9 n/m Plastic products 125 Phillips Ave., South Hackensack, NJ 07606 www.aepinc.com 1,800 143 STANDARD MOTOR Loral Space & Communications Inc. (LORL) (212) 697-1105 $797.3 +27.3% ($22.7) n/m Communications equipment 144 600 Third Ave., New York, NY 10016 www.loral.com 2,100 This maker of Hearst-Argyle Television Inc. (HTV) (212) 887-6800 $785.4 +11.1% $98.7 -1.5% Television stations replacement auto 145 300 W. 57th St., New York, NY 10019 www.hearstargyle.com 3,312 parts has been spared 1-800-Flowers.com Inc. 2 (FLWS) (516) 237-6000 $781.7 +16.6% $3.2 -59.4% Flowers and gifts the worst of the Detroit 146 1 Old Country Road, Carle Place, NY 11514 www.1800flowers.com 3,700 bloodbath. Still, the Finlay Enterprises Inc. 5 (FNLY) (212) 808-2800 $761.8 +7.3% $4.4 n/m Jewelry stores brutal competition has 147 529 Fifth Ave., New York, NY 10017 www.finlayenterprises.com 4,500 taken its toll: Revenues GFI Group Inc. (GFIG) (212) 968-4100 $743.9 +40.9% $61.1 +27.0% Securities trading services were lower in 2006 100 Wall St., New York, NY 10005 www.gfigroup.com 1,438 148 than in either of the Hain Celestial Group Inc. 2 (HAIN) $738.6 (631) 730-2200 +19.1% $37.1 +69.5% Food and beverage products previous two years. 149 58 S. Service Road, Melville, NY 11747 www.hain-celestial.com 2,074 Nu Horizons Electronics Corp. 3 (NUHC) (631) 396-5000 $737.5 +31.4% $9.9 +103.0% Electronics 150 70 Maxess Road, Melville, NY 11747 www.nuhorizons.com 748 Drew Industries Inc. (DW) (914) 428-9098 $729.2 +9.0% $31.0 -7.7% Metal products 151 200 Mamaroneck Ave., White Plains, NY 10601 www.drewindustries.com 3,690 M&F Worldwide Corp. (MFW) (212) 572-8600 $722.0 +494.7% $36.2 +50.8% Camera systems, licorice extract 152 35 E. 62nd St., New York, NY 10021 www.mandfworldwide.com 3,462 EDO Corp. (EDO) (212) 716-2000 $715.2 +10.3% $11.6 -55.9% Military equipment 153 60 E. 42nd St., New York, NY 10165 www.edocorp.com 4,000 ImClone Systems Inc. (IMCL) (212) 645-1405 $677.8 +76.7% $370.7 +328.5% Biotechnology 154 180 Varick St., New York, NY 10014 www.imclone.com 993 Footstar Inc. (FTAR) (201) 934-2000 $666.7 -6.8% $45.3 +85.7% Shoe stores 155 933 MacArthur Blvd., Mahwah, NJ 07430 www.footstar.com 3,901 Alpharma Inc. (ALO) (201) 947-7774 $653.8 +18.1% $82.5 -38.3% Pharmaceuticals 156 1 Executive Drive, Fort Lee, NJ 07024 www.alpharma.com 1,400 Nymex Holdings Inc. (NMX) (212) 299-2000 $640.3 +55.5% $154.8 +117.6% Commodities exchange 157 1 North End Ave., New York, NY 10282 www.nymex.com 504 Sirius Satellite Radio Inc. (SIRI) (212) 584-5100 $637.2 +163.1% ($1,104.9) n/m Satellite radio 158 1221 Sixth Ave., New York, NY 10020 www.sirius.com 722 SL Green Realty Corp. (SLG) (212) 594-2700 $596.5 +23.0% $220.7 +40.2% Real estate investment trust 159 420 Lexington Ave., New York, NY 10170 www.slgreen.com 814 Investment Technology Group Inc. (ITG) (212) 588-4000 $586.3 +44.7% $97.9 +44.7% Securities trading services 380 Madison Ave., New York, NY 10017 www.itginc.com 1,069 160 istockphoto Comforce Corp. (CFS) (516) 437-3300 $567.8 +5.2% $4.1 -35.0% Help supply services LAZARE KAPLAN 161 415 Crossways Park Drive, Woodbury, NY 11797 www.comforce.com 560 Newcastle Investment Corp. (NCT) (212) 798-6100 $558.6 +45.4% $127.9 +9.4% Real estate investment trust The diamond cutter 162 1345 Sixth Ave., New York, NY 10105 www.newcastleinv.com 0 14 known for its old-world Aeroflex Inc. 2 (ARXX) (516) 694-6700 $551.8 +19.1% $27.0 +58.2% High-tech components elegance is getting 163 35 S. Service Road, Plainview, NY 11803 www.aeroflex.com 2,675 pulverized in the USI Holdings Corp. (USIH) (914) 749-8500 $551.6 +8.5% $20.6 +164.1% Insurance and financial services modern world of the 164 555 Pleasantville Road, Briarcliff Manor, NY 10510 www.usi.biz 3,018 Internet, discount Tarragon Corp. (TARR) (212) 949-5000 $544.9 -8.4% $11.2 -87.4% Real estate investment trust retailers and increasing 165 423 W. 55th St., New York, NY 10019 www.tarragoncorp.com 625 standardization. The 6 Coinmach Service Corp. (DRA) (516) 349-8555 $543.5 +0.9% ($24.6) n/m Laundry equipment services changes are evident in 303 Sunnyside Blvd., Plainview, NY 11803 www.coinmachservicecorp.com 1,989 166 Lazare’s gross margins, Audiovox Corp. 15 (VOXX) (631) 231-7750 $539.7 -4.2% ($9.6) n/m Electronics 180 Marcus Blvd., Hauppauge, NY 11788 www.audiovox.com 750 which have been sliced 167 in half in the past Kenneth Cole Productions Inc. (KCP) (212) 265-1500 $536.5 +3.6% $26.8 -20.2% Footwear and apparel 168 603 W. 50th St., New York, NY 10019 www.kennethcole.com 1,900 three years. Movado Group Inc. 5 (MOV) (201) 267-8000 $532.9 +13.1% $50.1 +88.4% Watchmaker and retailer 169 650 From Road, Paramus, NJ 07652 www.movadogroup.com 1,300 Lazare Kaplan International Inc. 8 (LKI) (212) 972-9700 $528.0 +25.3% $1.5 -70.8% Jewelry and watches 19 W. 44th St., New York, NY 10036 www.lazarekaplan.com 223

170 ▼ Navigators Group Inc. (NAVG) (212) 244-2333 $526.6 +36.7% $72.6 +207.9% Insurance 171 1 Penn Plaza, New York, NY 10119 www.navg.com 342 Sirona Dental Systems Inc. 4 (SIRO) (718) 937-5765 $520.6 +12.4% $0.8 n/m Dental equipment 172 3000 47th Ave., Long Island City, NY 11101 www.sirona.com 1,978 Macquarie Infrastructure Co. Trust (MIC) (212) 231-1000 $520.3 +70.7% $49.9 +228.5% Airport services 173 125 W. 55th St., New York, NY 10019 www.macquarie.com 0 14

Companies whose common stock became publicly traded in 2006 or the first quarter of 2007. First year qualifying for Crain’s top 250 list.

NEW Rank #183 Town Sports International Holdings (CLUB) #144 Loral Space & Communications Inc. (LORL) #38 Hertz Global Holdings Inc. (HTZ) #194 AmTrust Financial Services Inc. (AFSI) #195 OSI Pharmaceuticals Inc. (OSIP) COMPANIES #67 MasterCard Inc. (MA) #202 Cowen Group Inc. (COW) #196 Verint Systems Inc. (VRNI) #91 Broadridge Financial Solutions Inc. (BR) #236 Evercore Partners Inc. (EVR) #239 Allion Healthcare Inc. (ALLI) ON THE 2007 #100 Fortress Investment Group (FIG) #242 Crystal River Capital Inc. (CRZ) #240 CKX Inc. (CKXE) #120 J. Crew Group Inc. (JCG) #249 Gramercy Capital Corp. (GKK) CRAIN’S PUBLICLY #157 Nymex Holdings Inc. (NMX) New to the area. #247 NorthStar Realty Finance Corp. (NRF) #172 Sirona Dental Systems Inc. (SIRO) HELD LIST #177 ACA Capital Holdings Inc. (ACA) #59 Jones Apparel Group Inc. (JNY)

26 | Crain’s New York Business | May 28, 2007 CNYB 05-28-07 A 27 5/24/2007 7:58 PM Page 1

REPORT BIGGEST COMPANIES

2006 2006 net revenues income Rank Company (Ticker symbol) Phone/Web site (in millions) % change (in millions) % change Industry/# of employees Delta Financial Corp. (DFC) (516) 364-8500 $512.1 +53.9% $29.8 +65.8% Mortgage financing 174 1000 Woodbury Road, Woodbury, NY 11797 www.deltafinancial.com 1,395 Westwood One Inc. (WON) (212) 641-2000 $494.0 -11.4% ($469.5) n/m Program and information services 40 W. 57th St., New York, NY 10019 www.westwoodone.com 2,013

175 M Steven Madden Ltd. (SHOO) (718) 446-1800 $489.4 +27.8% $46.3 +140.9% Footwear 176 52-16 Barnett Ave., Long Island City, NY 11104 www.stevemadden.com 1,498 ACA Capital Holdings Inc. (ACA) (212) 375-2000 $464.1 +40.4% $58.7 +104.1% Financial services 177 140 Broadway, New York, NY 10005 www.aca.com 115 Lifetime Brands Inc. (LCUT) (516) 683-6000 $457.4 +48.6% $15.5 +10.1% Housewares 178 1000 Stewart Ave., Garden City, NY 11530 www.lifetimebrands.com 1,199 Cambrex Corp. (CBM) (201) 804-3000 $455.5 +8.8% ($30.1) n/m Human health bioproducts WESTWOOD ONE 179 1 Meadowlands Plaza, East Rutherford, NJ 07073 www.cambrex.com 1,916 The radio network is Alpine Group Inc. 16 (APNI) (201) 549-4400 $447.8 +41.8% $4.6 -66.0% Holding company holding a “strategic 180 1 Meadowlands Plaza, East Rutherford, NJ 07073 www.alpinegroup.com 410 review”—i.e., it’s for Veeco Instruments Inc. (VECO) (516) 677-0200 $441.0 +7.5% $14.9 n/m Industrial equipment sale. The question is 100 Sunnyside Blvd., Woodbury, NY 11797 www.veeco.com 1,279 181 what sort of price it can LaBranche & Co. (LAB) (212) 425-1144 $435.4 +31.7% $136.8 +264.6% Securities 1 Exchange Plaza, New York, NY 10006 www.labranche.com 429 fetch. The company 182 racked up major losses Town Sports International Holdings (CLUB) (212) 246-6700 $433.1 +11.5% $4.6 +162.7% Fitness clubs 183 888 Seventh Ave., New York, NY 10106 www.mysportsclubs.com 8,600 last year, and revenues Par Pharmaceutical Cos. 16 (PRX) (201) 802-4000 $432.3 -33.3% ($15.3) n/m Pharmaceuticals are declining so 184 300 Tice Blvd., Woodcliff Lake, NJ 07677 www.parpharm.com 766 dramatically that it G-III Apparel Group Ltd. 5 (GIII) (212) 403-0500 $427.0 +31.8% $13.2 +86.0% Apparel suspended its dividend 185 512 Seventh Ave., New York, NY 10018 www.g-iii.com 510 earlier this month. Empire Resources Inc. (ERS) (201) 944-2200 $426.0 +18.8% $8.7 -8.4% Semifinished aluminum products 186 1 Parker Plaza, Fort Lee, NJ 07024 www.empireresources.com 65 K&F Industries Holdings Inc. (KFI) (914) 448-2700 $424.1 +10.3% $54.3 +130.1% Aviation brake products 187 50 Main St., White Plains, NY 10606 www.kandfindustries.com 1,431 Maidenform Brands Inc. (MFB) (201) 436-9200 $416.8 +9.1% $27.8 +210.5% Intimate apparel 188 154 Avenue E, Bayonne, NJ 07002 www.maidenform.com 1,300 Hanover Direct Inc. (HNVD) (201) 863-7300 $415.7 +2.0% ($6.2) n/m Catalog sales, e-commerce 189 1500 Harbor Blvd., Weehawken, NJ 07086 www.hanoverdirect.com 1,975 Continued

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REPORT BIGGEST COMPANIES

2006 2006 net revenues income Rank Company (Ticker symbol) Phone/Web site (in millions) % change (in millions) % change Industry/# of employees WHX Corp. 16 (WXCP) (914) 925-4413 $403.8 +8.6% ($34.7) n/m Metal products 190 555 Theodore Fremd Ave., Rye, NY 10580 www.whxcorp.com 1,640 United Retail Group Inc. 5 (URGI) (201) 845-0880 $399.3 -9.0% ($10.5) n/m Apparel stores 191 365 W. Passaic St., Rochelle Park, NJ 07662 www.unitedretail.com 5,524 Comtech Telecommunications Corp. 9 (CMTL) (631) 962-7000 $391.5 +27.2% $45.3 +23.5% Communications equipment 192 68 S. Service Road, Melville, NY 11747 www.comtechtel.com 1,228 Centerline Holding Co. 17 (CHC) (212) 317-5700 $387.3 +31.2% $41.3 -30.0% Multifamily financing 193 625 Madison Ave., New York, NY 10022 www.centerline.com 500

AmTrust Financial Services Inc. (AFSI) (212) 220-7120 $384.0 +59.6% $48.9 +30.1% Insurance istockphoto 59 Maiden Lane, New York, NY 10038 www.amtrustgroup.com 325 194 OSI OSI Pharmaceuticals Inc. (OSIP) (631) 962-2000 $375.7 +115.7% ($582.2) n/m Biotechnology 41 Pinelawn Road, Melville, NY 11747 www.osipharmaceuticals.com 611 The cancer-drug 195 M Verint Systems Inc. 5 (VRNT) (631) 962-9600 $373.6 +20.9% $2.8 -89.2% Telecommunications developer angered 196 330 S. Service Road, Melville, NY 11747 www.verintsystems.com 1,200 shareholders two years Datascope Corp. 2 (DSCP) (201) 391-8100 $373.0 +5.8% $25.8 +76.5% Medical equipment and supplies ago when it bought the 197 14 Philips Parkway, Montvale, NJ 07645 www.datascope.com 1,300 maker of an eye- 3 Standard Microsystems Corp. (SMSC) (631) 435-6000 $370.6 +16.1% $27.0 +124.6% Semiconductors disease treatment for 198 80 Arkay Drive, Hauppauge, NY 11788 www.smsc.com 856 nearly $1 billion. AllianceBernstein Holding (AB) (212) 969-1000 $359.5 +30.7% $325.0 +31.0% Financial services Lesson learned. Last 1345 Sixth Ave., New York, NY 10105 www.alliancebernstein.com 4,914 199 year, after posting Marvel Entertainment Inc. (MVL) $351.8 (212) 576-4000 -9.9% $58.7 -42.9% Comics, character licensing losses of several 200 417 Fifth Ave., New York, NY 10016 www.marvel.com 255 Glenayre Technologies Inc. (GEMS) (770) 283-1000 $348.5 +83.8% $4.0 -48.4% Communications and entertainment hundred million dollars, 201 825 Eighth Ave., New York, NY 10019 www.glenayre.com 2,200 the pharmaceuticals Cowen Group Inc. (COWN) (646) 562-1000 $345.0 +17.2% $37.9 +213.8% Securities company said it would 202 1221 Sixth Ave., New York, NY 10020 www.cowen.com 537 exit the eye-treatment Arbitron Inc. (ARB) (212) 887-1300 $329.3 +6.2% $50.7 -24.7% Media information provider business. 203 142 W. 57th St., New York, NY 10019 www.arbitron.com 1,908 General Maritime Corp. (GMR) (212) 763-5600 $326.0 -42.6% $156.8 -26.1% Shipping 204 299 Park Ave., New York, NY 10171 www.generalmaritimecorp.com 530 Topps Co. 3 (TOPP) (212) 376-0300 $325.4 +10.8% $11.0 +784.9% Trading cards, confections 1 Whitehall St., New York, NY 10004 www.topps.com 487

205 M Lincoln Educational Services (LINC) (973) 736-9340 $321.5 +7.4% $15.6 -16.9% Postsecondary educational services 206 200 Executive Drive, West Orange, NJ 07052 www.lincolneducationalservices.com 2,862 Inter Parfums Inc. (IPAR) (212) 983-2640 $321.1 +17.4% $17.7 +16.2% Fragrances and beauty aids 207 551 Fifth Ave., New York, NY 10176 www.interparfumsinc.com 235 Provident Financial Services Inc. (PFS) (201) 333-1000 $314.1 +2.8% $53.7 -8.2% Banking 208 830 Bergen Ave., Jersey City, NJ 07306 www.providentnj.com 877 Temco Service Industries Inc. 18 (TMCO) (212) 889-6353 $306.3 -0.3% $1.2 -48.1% Building services 209 1 Park Ave., New York, NY 10016 www.temcoservices.com 10,000 TAL International Group Inc. (TAL) (914) 251-9000 $303.4 -4.7% $42.1 +335.6% Intermodal containers lessor TOPPS 210 100 Manhattanville Road, Purchase, NY 10577 www.talinternational.com 189 To management’s Anthracite Capital Inc. (AHR) (212) 810-3333 $303.4 +24.4% $80.5 +14.0% Real estate investment trust 14 chagrin, some kids who 211 40 E. 52nd St., New York, NY 10022 www.anthracitecapital.com 0 collected Topps Tower Group Inc. (TWGP) (212) 655-2000 $299.3 +36.2% $36.8 +77.1% Insurance baseball cards grew 120 Broadway, New York, NY 10271 www.twrgrp.com 403 212 up to be activist Aceto Corp. 2 (ACET) $297.1 (516) 627-6000 -5.2% $9.2 -7.8% Chemicals shareholders. CEO 213 1 Hollow Lane, New Hyde Park, NY 11042 www.aceto.com 216 6 Arthur Shorin has been Prestige Brands Holdings (PBH) (914) 524-6810 $296.7 +2.6% $26.3 +157.1% Consumer products 214 90 N. Broadway, Irvington, NY 10533 www.prestigebrands.com 87 fighting with a group of Russ Berrie & Co. (RUS) (201) 337-9000 $294.8 +1.6% ($9.4) n/m Dolls and stuffed toys hedge fund managers 215 111 Bauer Drive, Oakland, NJ 07436 www.russberrie.com 1,034 for control of the Allied Healthcare International Inc. 4 (AHCI) (212) 750-0064 $294.6 -16.1% ($123.8) n/m Home health care services company since 2005. 216 555 Madison Ave., New York, NY 10022 www.alliedhealthcare.com 960 He wants to sell the Gamco Investors Inc. (GBL) (914) 921-3700 $290.8 +7.0% $69.5 +9.4% Investment advice company to a group led 217 1 Corporate Center, Rye, NY 10580 www.gabelli.com 200 by Michael Eisner. Greenhill & Co. (GHL) (212) 389-1500 $290.6 +31.4% $75.7 +36.3% Securities 218 300 Park Ave., New York, NY 10022 www.greenhill-co.com 201 Martha Stewart Living Omnimedia Inc. (MSO) (212) 827-8000 $285.8 +34.6% ($17.0) n/m Media, merchandising 11 W. 42nd St., New York, NY 10036 www.marthastewart.com 755

219 M Syms Corp. 3 (SYM) (201) 902-9600 $281.2 +0.3% $9.5 +177.9% Apparel stores 220 Syms Way, Secaucus, NJ 07094 www.syms.com 1,704 Caché Inc. (CACH) (212) 575-3200 $279.0 +4.7% $8.3 -38.3% Apparel stores 221 1440 Broadway, New York, NY 10018 www.cache.com 2,860 Morgans Hotel Group Co. (MHGC) (212) 277-4100 $278.6 +7.0% ($13.9) n/m Hotels 222 475 10th Ave., New York, NY 10018 www.morganshotelgroup.com 1,950 W.P. Carey & Co. (WPC) (212) 492-1100 $273.3 +61.9% $86.3 +77.6% Real estate advisory 223 50 Rockefeller Plaza, New York, NY 10020 www.wpcarey.com 0 19 Signature Bank (SBNY) (646) 822-1500 $261.0 +48.1% $33.4 +110.2% Banking 224 565 Fifth Ave., New York, NY 10017 www.signatureny.com 416 MARTHA STEWART 5 Delia*s Inc. (DLIA) (212) 807-9060 $257.6 +13.6% $5.8 n/m Apparel and accessories for youths The company hasn’t 435 Hudson St., New York, NY 10014 www.delias.com 1,673 225 turned a profit since its Park Electrochemical Corp. 3 (PKE) (631) 465-3600 $257.4 +15.8% $39.8 +48.1% Printed circuit boards 48 S. Service Road, Melville, NY 11747 www.parkelectro.com n/a famous founder’s legal 226 problems began in Bel Fuse Inc. (BELFB) (201) 432-0463 $254.9 +18.1% $25.2 +24.6% Electronics 227 206 Van Vorst St., Jersey City, NJ 07302 www.belfuse.com 1,956 2002. Through it all, WebMD Health Corp. (WBMD) (212) 624-3700 $253.9 +50.3% $4.5 -41.3% Online health information and news Martha’s magazines 228 111 Eighth Ave., New York, NY 10011 www.webmd.com 1,025 have remained pretty Investors Bancorp Inc. 2 (ISBC) (973) 924-5100 $251.6 +13.7% $15.0 n/m Banking solid, especially the 229 101 JFK Parkway, Short Hills, NJ 07078 www.isbnj.com 473 bridal title, which is Escala Group Inc. 20 (ESCL) (212) 421-9400 $240.3 +12.9% $38.3 +30.3% Auction house network probably the most 230 623 Fifth Ave., New York, NY 10022 www.escalagroup.com 168 useful one in a crowded PDI Inc. (PDII) (201) 258-8450 $239.2 -21.6% $11.8 n/m Pharmaceutical sales and marketing field. Her partnership 231 1 Route 17 South, Upper Saddle River, NJ 07458 www.pdi-inc.com 1,100 with Kmart is another Infocrossing Inc. (IFOX) (201) 840-4700 $229.2 +54.9% $8.5 +229.8% Information technology services story. 232 2 Christie Heights St., Leonia, NJ 07605 www.infocrossing.com 882

28 | Crain’s New York Business | May 28, 2007 CNYB 05-28-07 A 29 5/24/2007 7:59 PM Page 1

REPORT BIGGEST COMPANIES

2006 2006 net revenues income Rank Company (Ticker symbol) Phone/Web site (in millions) % change (in millions) % change Industry/# of employees Jaco Electronics Inc. 2 (JACO) (631) 273-5500 $228.5 -1.4% ($7.0) n/m Electronics 233 145 Oser Ave., Hauppauge, NY 11788 www.jacoelectronics.com 205 Young Broadcasting Inc. (YBTVA) (212) 754-7070 $225.2 +14.7% ($56.6) n/m Television stations 234 599 Lexington Ave., New York, NY 10022 www.youngbroadcasting.com 1,157 Atari Inc. 6 (ATAR) (212) 726-6500 $218.7 -46.4% ($69.0) n/m Video games 235 417 Fifth Ave., New York, NY 10016 www.atari.com 329 Evercore Partners Inc. (EVR) (212) 857-3100 $216.5 +72.3% $69.7 +10.4% Securities 236 55 E. 52nd St., New York, NY 10055 www.evercore.com 247 Lexington Corporate Properties Trust (LXP) (212) 692-7200 $211.6 +11.5% $7.8 -76.3% Real estate investment trust 237 1 Penn Plaza, New York, NY 10119 www.lxp.com 56 International Securities Exchange Holdings Inc. (ISE) (212) 943-2400 $210.4 +31.6% $55.2 +56.0% Electronic stock market CKX 238 60 Broad St., New York, NY 10004 www.iseoptions.com 216 This company owns an Allion Healthcare Inc. (ALLI) (631) 547-6520 $209.5 +70.2% $3.2 n/m Drug retail interesting assortment 1660 Walt Whitman Road, Melville, NY 11747 www.allionhealthcare.com 222 239 of assets: the rights CKX Inc. (CKXE) (212) 838-3100 $209.0 +73.3% $9.2 n/m Movies and entertainment 650 Madison Ave., New York, NY 10022 http://ir.ckx.com 564 to American Idol and

240 M Metalico Inc. (MEA) (908) 497-9610 $207.7 +33.8% $10.3 +84.8% Metal recycling, lead fabrication to the names and 241 186 North Ave. East, Cranford, NJ 07016 www.metalico.com 391 images associated with Crystal River Capital Inc. (CRZ) (212) 549-8400 $201.2 +152.8% $46.9 +236.4% Real estate investment trust Elvis Presley and 242 200 Vesey St., New York, NY 10281 www.crystalriverreit.com 0 14 Muhammad Ali. It also NYMagic Inc. (NYM) (212) 551-0600 $200.5 +17.0% $29.9 +207.7% Insurance operates Graceland. 243 919 Third Ave., New York, NY 10022 www.nymagic.com 146 Chief Executive Robert 24/7 Real Media Inc. (TFSM) (212) 231-7100 $200.2 +43.2% ($8.6) n/m Internet-based services F.X. Sillerman, who 244 132 W. 31st St., New York, NY 10001 www.247realmedia.com 390 became a billionaire Alexander’s Inc. (ALX) (201) 587-8541 $198.8 +6.2% ($75.0) n/m Real estate investment trust building and selling 245 210 Route 4 East, Paramus, NJ 07652 www.alx-inc.com 96 media properties, MFA Mortgage Investments Inc. (MFA) (212) 207-6400 $198.3 -10.7% $8.8 +30.6% Real estate investment trust wants to turn the 246 350 Park Ave., New York, NY 10022 www.mfa-reit.com 16 Graceland estate into NorthStar Realty Finance Corp. (NRF) (212) 319-3400 $196.4 +200.6% $38.1 +1.0% Real estate investment trust an amusement 247 527 Madison Ave., New York, NY 10022 www.nrfc.com 56 5 destination to rival Alloy Inc. (ALOY) (212) 244-4307 $196.1 +0.4% ($7.2) n/m Media and marketing for youths Disney World. 248 151 W. 26th St., New York, NY 10001 www.alloy.com 601 Gramercy Capital Corp. (GKK) (212) 297-1000 $195.3 +125.5% $55.9 +78.2% Real estate investment trust 249 420 Lexington Ave., New York, NY 10170 www.gramercycapitalcorp.com 0 14 Bio-Reference Laboratories Inc. (BRLI) (201) 791-2600 $193.1 +17.8% $11.3 +48.2% Medical laboratories 250 481 Edward H. Ross Drive, Elmwood Park, NJ 07407 www.bioreference.com 1,551 Source: Standard & Poor’s, a division of The McGraw-Hill Cos.; additional research by Denise Southwood and Sarah Studley All companies listed were publicly traded as of April 30 had released their 2006 earnings by that day, unless otherwise noted. All financial figures are from the most recent 10-K’s or newswire data available as of April 30. Employee numbers are from the most recent 10-K’s. Financial figures are for calendar year except where noted. The most recent data for companies with fiscal years ending in March through December are for the year ended in 2006, and the most recent data for companies with fiscal years ending in January and February are for the year ended in 2007, except where noted. All numbers have been rounded to one decimal place. Rankings and percent changes are based on unrounded numbers. n/m Not meaningful. n/a Not available. 1-Fiscal year ends Nov. 30. 2-Fiscal year ends June 30. 3-Fiscal year ends Feb. 28. 4-Fiscal year ends Sept. 30. 5-Fiscal year ends Jan. 31. 6-Fiscal year ends March 31. 7-Fiscal year ends Oct. 31. 8-Fiscal year ends May 31. 9-Fiscal year ends July 31. 10-Fiscal year ends Aug. 31. 11-Fiscal year ends April 30. 12-On March 22, 2007, Paxar Corp. entered into an agreement to plan a merger with Avery Dennison Corp. 13-Fiscal year ends June 30. On May 2, 2007, Bisys Group announced that it had entered into a definitive agreement under which Citibank N.A. would acquire all of Bisys Group shares. 14-The company hires another firm to manage day-to-day operations. 15-Fiscal year ends Nov. 30. Financial data are for 2005 and 2004. 16-Financial data are for 2005 and 2004. 17-On April 3, 2007, CharterMarc changed its name to Centerline Holding Co. 18-Fiscal year ends Sept. 30. Financial data are for 2005 and 2004. 19-A wholly owned subsidiary of W.P. Carey & Co. employs individuals who perform services for W.P. Carey. 20-Fiscal year ends June 30. Financial data are for 2005 and 2004.

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May 28, 2007 | Crain’s New York Business | 29 CNYB 05-28-07 A 30 5/24/2007 8:01 PM Page 1

REPORT

ALPHABETICAL LISTING OF COMPANIES

COMPANY RANK COMPANY RANK

ACA Capital Holdings Inc.------177 Crystal River Capital Inc. ------242

Aceto Corp. ------213 Curtiss-Wright Corp. ------111

AEP Industries Inc. ------143 Datascope Corp. ------197

Aeroflex Inc. ------163 Delia*s Inc.------225

Aéropostale Inc. ------105 Delta Financial Corp.------174

Alcoa Inc. ------17 Dover Corp. ------45

Alexander’s Inc. ------245 Dow Jones & Co. ------95

Alleghany Corp. ------115 Drew Industries Inc.------151

AllianceBernstein Holding------199 Dun & Bradstreet Corp.------99

Allied Healthcare International Inc. ------216 E*Trade Financial Corp. ------62 Accountemps hires only the most highly Allion Healthcare Inc. 239 EDO Corp. 153 All financial ------skilled financial professionals, experts who Alloy Inc.------248 Emdeon Corp. ------123 temporaries are will hit the ground running to augment your Alpharma Inc. 156 Empire Resources Inc. 186 permanent workforce. So call us at one of our ------not created equal. 180 230 350 offices worldwide today. And see why Alpine Group Inc. ------Escala Group Inc. ------

Accountemps equals less training and more Altria Group Inc.------7 Estée Lauder Cos.------46 productivity for you. Ambac Financial Group Inc.------93 Evercore Partners Inc. ------236

American Express Co. ------19 Finlay Enterprises Inc. ------147

American Home Mortgage Investment Corp. ------80 Foot Locker Inc.------54

American International Group Inc. ------2 Footstar Inc. ------155 Midtown • Wall Street • Brooklyn American Real Estate Partners 102 Forest Laboratories Inc. 70 Union Square • Queens ------AmTrust Financial Services Inc.------194 Fortress Investment Group------100

Ann Taylor Stores Corp.------76 Gamco Investors Inc. ------217

Annaly Capital Management Inc.------116 General Maritime Corp. ------204

1.800.803.8367 Anthracite Capital Inc. ------211 Gentiva Health Services Inc.------122

accountemps.com Arbitron Inc.------203 GFI Group Inc. ------148

Arrow Electronics Inc.------25 G-III Apparel Group Ltd.------185 © 2007 Accountemps. An Equal Opportunity Employer. 0305-1003 Asbury Automotive Group Inc. ------55 Glenayre Technologies Inc. ------201

Assurant Inc. ------39 Goldman Sachs Group Inc. ------8

Astoria Financial Corp.------118 Gramercy Capital Corp. ------249

Atari Inc.------235 Great Atlantic & Pacific Tea Co.------43

Atlas Air Worldwide Holdings Inc. ------103 Greenhill & Co.------218

Audiovox Corp.------167 Griffon Corp. ------97

Automatic Data Processing Inc.------36 Hain Celestial Group Inc. ------149

Avon Products Inc. ------37 Hanover Direct Inc.------189

Bank of New York Co.------35 Hearst-Argyle Television Inc.------145

Barnes & Noble Inc.------56 Henry Schein Inc. ------57

Barr Pharmaceuticals Inc.------109 Hertz Global Holdings Inc.------38

Bear Stearns Cos.------23 Hess Corp.------18

Becton Dickinson & Co. ------53 Hudson City Bancorp Inc.------98 44 106 ÜÉäéáåÖ=óçì Bed Bath & Beyond Inc.------Hudson Highland Group Inc. ------Bel Fuse Inc.------227 IAC/InterActiveCorp ------47

Bio-Reference Laboratories Inc. ------250 IDT Corp.------79 119 154 áåëíáää=áåîÉëíçê BioScrip Inc. ------ImClone Systems Inc. ------

Bisys Group Inc.------139 Infocrossing Inc. ------232

SEC Filings BlackRock Inc. ------83 Inter Parfums Inc.------207

ÅçåÑáÇÉåÅÉ SOX 404 Consulting Bowne & Co.------140 International Business Machines Corp. ------4

Internal Audit Services Bristol-Myers Squibb Co.------21 International Flavors & Fragrances Inc.------84

Registration Statements Broadridge Financial Solutions Inc.------91 International Securities Exchange Holdings Inc.------238

IPO & Secondary Offerings C.R. Bard Inc. ------89 Interpublic Group of Companies Inc.------50 64 160 This is what our SEC Practice is all about. Audit Committee Assistance CA Inc. ------Investment Technology Group Inc.------

Cablevision Systems Corp.------52 Investors Bancorp Inc. ------229

From assisting you with your IPO to compliance with Caché Inc.------221 iStar Financial Inc.------130 SEC and Sarbanes-Oxley regulations, Holtz Rubenstein Cambrex Corp. ------179 ITT Corp. ------40 Reminick has been helping middle market companies CBS Corp.------24 J. Crew Group Inc. ------120 succeed. We are one of the leading CPA firms in the Celgene Corp. 133 J.P. Morgan Chase & Co. 3 country serving SEC registrants. ------Centerline Holding Co. ------193 Jaco Electronics Inc. ------233 ëìéÉêáçê 87 63 íÜáåâáåÖK Children’s Place Retail Stores Inc.------Jarden Corp. ------CIT Group Inc.------42 Jefferies Group Inc.------90

ìåã~íÅÜÉÇ Citigroup Inc. ------1 JetBlue Airways Corp.------74 240 127 áåíÉÖêáíóK CKX Inc. ------John Wiley & Sons Inc. ------

Coach Inc. ------82 Jones Apparel Group Inc. ------59 104 187 For more information, contact Cognizant Technology Solutions Corp.------K&F Industries Holdings Inc. ------Lawrence J. Waldman, CPA Coinmach Service Corp. ------166 Kenneth Cole Productions Inc. ------168

(212) 697-6900 Colgate-Palmolive Co. ------28 KeySpan Corp. ------41

[email protected] Comforce Corp. ------161 Kimco Realty Corp. ------135 CERTIFIED PUBLIC ACCOUNTANTS. BUSINESS ADVISERS. Comtech Telecommunications Corp. 192 Knight Capital Group Inc. 131 Holtz Rubenstein Reminick LLP ------Consolidated Edison Inc. 30 L-3 Communications Holdings Inc. 27 1430 Broadway, New York, NY 10018 ------112 182 125 Baylis Road, Melville, NY 11747 Covanta Holding Corp. ------LaBranche & Co. ------202 www.hrrllp.com Cowen Group Inc. ------Continued

©2007 Holtz Rubenstein Reminick LLP CNYB 05-28-07 A 31 5/24/2007 8:02 PM Page 1

REPORT BIGGEST COMPANIES

ALPHABETICAL LISTING OF COMPANIES COMPANY RANK COMPANY RANK COMPANY RANK COMPANY RANK COMPANY RANK

Lazare Kaplan International Inc. ------170 Scientific Games Corp. ------134 Steven Madden Ltd.------176 Town Sports International Holdings ------183 Village Super Market Inc. ------129

Lehman Brothers Holdings Inc.------12 Sealed Air Corp. ------60 Syms Corp. ------220 Transatlantic Holdings Inc. ------61 Volt Information Sciences Inc.------77

Leucadia National Corp. ------141 Sequa Corp.------81 Systemax Inc.------75 Triarc Cos.------113 Vornado Realty Trust ------69

Lexington Corporate Properties Trust ------237 Signature Bank------224 Take-Two Interactive Software Inc. ------128 24/7 Real Media Inc. ------244 W.P. Carey & Co.------223

Lifetime Brands Inc. ------178 Sirius Satellite Radio Inc.------158 TAL International Group Inc. ------210 United Retail Group Inc. ------191 Warnaco Group Inc. ------94

Lincoln Educational Services------206 Sirona Dental Systems Inc. ------172 Tarragon Corp. ------165 Universal American Financial Corp. ------110 Warner Music Group Corp. ------66

Liz Claiborne Inc.------58 Six Flags Inc.------132 Temco Service Industries Inc. ------209 USI Holdings Corp.------164 WebMD Health Corp. ------228

Loews Corp. ------22 SL Green Realty Corp. ------159 Tiffany & Co.------72 Veeco Instruments Inc.------181 Weight Watchers International Inc.------114

Loral Space & Communications Inc. ------144 Standard Microsystems Corp. ------198 Time Warner Inc. ------13 Verint Systems Inc. ------196 Westwood One Inc. ------175

M&F Worldwide Corp. ------152 Standard Motor Products Inc. ------142 Topps Co. ------205 Verizon Communications Inc.------5 WHX Corp.------190

Macquarie Infrastructure Co. Trust------173 Starwood Hotels & Resorts Worldwide Inc. ------51 Tower Group Inc. ------212 Viacom Inc. ------32 Young Broadcasting Inc. ------234

Maidenform Brands Inc. ------188

Marsh & McLennan Cos.------31

Martha Stewart Living Omnimedia Inc.------219

Marvel Entertainment Inc.------200

MasterCard Inc.------67

MBIA Inc. ------71

McGraw-Hill Cos. ------49

Medco Health Solutions Inc.------14 9 Merrill Lynch & Co. ------BUSINESS AS USUAL? Metalico Inc. ------241

MetLife Inc.------10 NOT IF YOU CAN HELP IT.

MFA Mortgage Investments Inc.------246 Bicoastal Business Luxury Minerals Technologies Inc. ------125 121 Monster Worldwide Inc.------Smart, stylish accommodations 86 Moody’s Corp.------for savvy business travelers. 6 Morgan Stanley------High-speed Internet access, 222 Morgans Hotel Group Co.------room service, business centers, 169 Movado Group Inc. ------superb on-site dining. MSC Industrial Direct Co.------108

Nasdaq Stock Market Inc.------96

National Financial Partners Corp.------124 RESERVATIONS

National Medical Health Card Systems Inc. ------137 1-866-866-8086

Navigators Group Inc.------171 millenniumhotels.com

NBTY Inc. ------92

New York & Company Inc. ------117

New York Community Bancorp Inc. ------101

New York Times Co. ------68

Newcastle Investment Corp.------162

News Corp.------20

NorthStar Realty Finance Corp.------247

Nu Horizons Electronics Corp. ------150

NYMagic Inc. ------243

Nymex Holdings Inc. ------157

NYSE Group Inc. ------73

Omnicom Group Inc.------33

1-800-Flowers.com Inc. ------146

OSI Pharmaceuticals Inc. ------195

Overseas Shipholding Group Inc.------126

Pall Corp. ------88 MILLENNIUM

Par Pharmaceutical Cos.------184 BILTMORE HOTEL

Park Electrochemical Corp. ------226 In the Financial and Cultural Heart 136 Paxar Corp.------of Downtown Los Angeles

PDI Inc. ------231

Pepsi Bottling Group Inc. ------26 15 PepsiCo Inc.------MILLENNIUM 11 Pfizer Inc. ------BROADWAY HOTEL

Phillips-Van Heusen Corp. ------85 Polo Ralph Lauren Corp. 65 On W. 44th Street in the Heart of ------New York City’s Times Square Prestige Brands Holdings------214

Primedia Inc.------138

Provident Financial Services Inc.------208

Prudential Financial Inc.------16

Public Service Enterprise Group Inc.------29

Quest Diagnostics Inc.------48

Revlon Inc.------107 Visit millenniumhotels.com/onview to find out how your business Russ Berrie & Co.------215 at Millennium Hotels and Resorts supports the arts Schering-Plough Corp. ------34

Scholastic Corp. ------78

May 28, 2007 | Crain’s New York Business | 31 nb22p32_33cls.qxp 5/24/07 4:11 PM Page 32

BOOKKEEPING SERVICES FINANCIAL PLANNER EXECUTIVE PUBLIC & LEGAL NOTICES

RECRUITER Notice of Qualification of CT Asia Fund Notice of Appl. for Auth. 325 Savanna LLC a Manager, LLC. Authority filed with Secy. of foreign limited liability company (LLC). POSITION AVAILABLE State of N.Y. (SSNY) on 4/30/07. Office Appl. for Auth. filed with Secy. of State of location: NY County. LLC formed in Delaware NY (SSNY) on 12/18/06. LLC organized in DIRECTOR OF (DE) on 4/30/07. SSNY designated as agent of DE on 11/16/00. NY office location: New LLC upon whom process against it may be York County. SSNY designated as agent of OPERATIONS served. SSNY shall mail process to: Geoffrey the LLC upon whom process against it may G. Jervis, Capital Trust, Inc., 410 Park Ave., be served. SSNY shall mail copy of process BUSINESS SERVICES Major midtown commercial real estate 14th Fl., NY, NY 10022. DE address of LLC: to: c/o The LLC, 10 East 53rd Street, 37th firm seeks individual to be responsible for c/o Corporation Service Company, 2711 Flr., New York, NY 10022. Office address of all on-site operations of a 2M+ sq. ft. Centerville Road, Ste. 400, Wilmington, DE LLC in jurisdiction of organization: c/o property. Must be familiar with energy 19808. Cert. of Form. filed with DE Secy. of National Registered Agents, Inc., 160 SPEED DATING management, chiller plant, fire alarm sys- State, 401 Federal St., Ste. 4, Dover, DE 19901. Greentree Drive Suite 101, Dover, DE 19904. tems, and optimization of steam and elec- Purpose: any lawful activity. A copy of the Cert. of Form. is on file with tric operations. Responsibilities also State of Delaware, Division of Corporation, RC include assisting in yearly operational and Notice of Qualification of Porthault NA, LLC. 401 Federal Street, Ste. 4, Dover, DE 19901. Red Carpet Purpose: Any lawful act or activity. Speed Date capital budgets, and interfacing with build- Authority filed with Secy. of State of NY Come join us for an event! ing ownership, tenants, leasing and gov- (SSNY) on 4/30/02. Office location: NY Many dates in one night. ernment entities. County. LLC formed in Delaware (DE) on NOTICE OF FORMATION of limited liability Each date is 2-5 minutes long. 10/23/01. SSNY designated as agent of company (LLC). Name: Seed Represents LLC. Sign up online at: www.redcarpetspeeddate.com Must have experience with collective bar- LLC upon whom process against it may be Articles of Organization filed with Secretary of www.newyorkbusiness.com 917-701-9164 gaining agreements, including negotia- served. SSNY shall mail process to: c/o State of New York (SSNY) on 5/1/07. Office tions, disputes and arbitrations. Will National Registered Agents, Inc., 875 Ave location: New York County. SSNY designated RELOCATION SERVICES supervise over 200 employees. of the Americas, Ste 501, NY, NY 10001, as agent of LLC upon whom service of process Experience with negotiating/supervising also registered agent. Address of principal against it may be served. SSNY shall mail maintenance and construction contracts office: 18 East 69th St., NY, NY 10021. copy of process to the LLC, 23 East 4th Street, necessary. Must be able to analyze and Arts. of Org. filed with DE Secy. Of State, New York, NY 10003. Purpose any lawful act. 401 Federal St., Ste 4., Dover, DE 19901. reduce costs, devise efficiencies, and Purpose: any lawful activities. establish operations policies. Notice of Formation of Carnegie Hill Cardiology, PLLC. Arts. of Org. filed with Engineering or Architectural degree Notice of Formation of Stackpole Partners, Secy. of State of NY (SSNY) on 10/11/06. required, as well as at least 10 years expe- LLC. Arts. of Org. filed with Secy. of State of Office location: NY Co. SSNY designated as rience managing a high-rise Manhattan NY (SSNY) on 4/25/07. Office location: NY Co. agent of LLC upon whom process against it property. SSNY designated as agent of LLC upon whom may be served. SSNY shall mail process to: process against it may be served. SSNY shall The LLC, 162 East 95th Street, NY, NY 10128. Please fax resume and salary mail process to: National Registered Agents, Purpose: any lawful activities. requirements to Human Resources: Inc., 875 Ave of the Americas, Ste 501, NY, NY FAX (212) 967-6167 10001, also registered agent. Purpose: any lawful activities. NOTICE OF FORMATION OF MUTED TRAX, LLC. Name: Muted Trax, LLC. Articles of Notice of Formation of DIGGIN 4 BROWN Organization were filed on February 9, 2007 REAL ESTATE PUBLIC & LEGAL LLC. Arts. of Org. filed with Secy. of State of with the Secretary of State of New York N.Y. (SSNY) on 1/19/07. Office location: NY (SSNY). Office location: New York County. OFFICE SPACE NOTICES County. SSNY designated as agent of LLC SSNY has been designated as agent of the upon whom process against it may be served. LLC upon whom process against it may be ® SSNY shall mail process to: Will Roberson, served. SSNY shall mail a copy of process to Ten MetroTech Center Notice of Qualification of Digital Laundry the LLC, 418 W. 47th Street, #1FW, New York, LLC. Authority filed with Secy of State on 142 E. 98th St., Ste. 26, NY, NY 10029. 625 Fulton Street Purpose: any lawful activity. NY, 10036. Purpose: any lawful activity. Street 4/26/07. Office location: NY County. LLC address of Principal Business location is: 418 Brooklyn, New York 11217 formed in Delaware (DE) on 12/7/06. SSNY W. 47th Street, #1FW, New York, NY, 10036. designated as agent of LLC, upon whom Notice of Formation of LEOPOLD PRODUCTIONS process against it may be served. SSNY LLC. Arts. of Org. filed with Secy. of State Variety of uses, competitive pricing and just minutes from Manhattan shall mail process to 173 E. 120th St., NY, of N.Y. (SSNY) on 8/24/06. Office location: Notice of Formation of MV Designs, LLC. NY 10035, the principal business office of NY County. SSNY designated as agent of Arts. of Org. filed with NY Dept. of State on The U.S. General Services Administration (GSA) is offering approximately 111,500 LLC. Address required to be maintained in LLC upon whom process against it may be 4/6/07. Office location: NY County. Secy. of DE: c/o Harvard Business Services, Inc., served. SSNY shall mail process to: State designated as agent of LLC upon whom square feet at Ten MetroTech Center, Brooklyn, New York. MetroTech Center is a process against it may be served. Secy. of 16-acre commercial, academic, and high technology office complex surrounded by 16192 Coastal Hwy, Lewes, DE 19958-9776. Corporation Service Company, 80 State Art. Of Org. filed with DE Secy of State, 401 Street, Albany, NY 12207, registered agent State shall mail process to: Starr & Company, dining, entertainment, shopping, and cultural venues.Ten minutes from Manhattan Federal St., Dover, DE 19901. Purpose: any upon whom process may be served. LLC, 850 3rd Ave., 15th Fl., NY, NY 10022, lawful activities. Purpose: any lawful activity. principal business address of the LLC. in the heart of downtown Brooklyn, amenities include: 24/7 attended lobby, raised Purpose: any lawful activity. floors for high-tech wiring, roof-top deck, flexible floor plans with pre-built Notice of Qualification of Tiger Partners LINEN CHATEAU, LLC Articles of Org. filed NY windowed offices, executive suite with bathroom and pantry, flexibility and willing Trading LLC. Authority filed with Secy. of State Sec. of State (SSNY) 5/2/07. Office in New Notice of Qualification of Axton Owner LLC. to subdivide, steps to subways, buses, LIRR. Brokers welcome. For information on of N.Y. (SSNY) on 4/24/07. Office location: NY York Co. SSNY desig. agent of LLC upon Authority filed with Secy. of State of NY County. Principal business location: 101 (SSNY) on 1/22/07. Office location: NY Ten MetroTech and other GSA Outleasing opportunities contact Wes French at whom process may be served. SSNY shall Park Avenue, NY, NY 10178. LLC formed in mail copy of process to c/o Lazarus & Lazarus, County. LLC formed in Delaware (DE) on [email protected] or at 212-264-3595. Delaware (DE) on 3/7/07. SSNY designated P.C., 240 Madison Ave., 8th Fl., NY, NY 10016. 1/3/07. SSNY designated as agent of LLC as agent of LLC upon whom process against Purpose: Any lawful purpose. upon whom process against it may be it may be served. SSNY shall mail process served. SSNY shall mail process to: c/o IMMEDIATE OFFICE SPACE to: c/o Corporation Service Company (CSC), National Registered Agents, Inc., 875 Ave of 80 State St., Albany, NY 12207. DE address Notice of Formation of M&M Pictures, LLC. the Americas, Ste 501, NY, NY 10001, also Space by the day, week, month, year and even virtual. of LLC: CSC, 2711 Centerville Road, Ste. Arts. of Org. filed with NY Dept. of State on registered agent. Address required to be 5/14/07. Office location: NY County. Secy. of 212.573.0909 400, Wilmington, DE 19808. Arts. of Org. maintained in DE: 160 Greentree Dr., Ste 101, filed with DE Secy. of State, 401 Federal St., State designated as agent of LLC upon Dover, DE 19904. Arts. of Org. filed with DE VornadoFurnishedOffices.com Ste. 4, Dover, DE 19901. Purpose: any whom process against it may be served and Secy. Of State, 401 Federal St., Ste 4., Dover, A lawful activity. shall mail process to: 19 Greenwich St., #5B, DE 19901. Purpose: any lawful activities. 90 Park 909 Third 330 Madison 770 Broadway COMPANY NY, NY 10014, principal business address of Notice of Formation of MEDPREP CONSULTING the LLC. Purpose: any lawful activity. OFFICE SPACE OFFICE SPACE GROUP, LLC. Arts. of Org. filed with Secy. Notice of Qualification of Block by Block, of State of N.Y. (SSNY) on 1/25/07 as Notice of Qualification of Hanover Group LLC., fict name of Brantley Block by Block, SUBLEASE OPPORTUNITY amended. Office location: NY County. SSNY US, LLC. Authority filed with Secy. of State LLC Authority filed with Secy. of State of NY (SSNY) on 2/27/07. Office location: NY 110 East 42nd St, New York City 212-947-5500 designated as agent of LLC upon whom of NY (SSNY) on 4/03/07. Office location: process against it may be served. SSNY NY County. LLC formed in Delaware (DE) County. LLC formed in Kentucky (KY) on FOR ALL OFFICE, RETAIL & LOFT SPACES 1 windowed and 1 interior office, shall mail process to: Stuart B. Weiss, 160 on 3/8/06. SSNY designated as agent of 12/27/06. SSNY designated as agent of LLC 2 workstations in historic building New York City, Brooklyn, Queens W. 71st St., #8E, NY, NY 10023. Purpose: LLC upon whom process against it may be upon whom process against it may be served. across from Grand Central. New space. 500–50,000 SF any lawful activity. served. SSNY shall mail process to: c/o SSNY shall mail process to: the LLC, 875 Ave. Call Ron Erikson at 800-772-4446 UNDER MARKET SUBLETS – NO FEE! National Registered Agents, Inc., 875 Ave of the Americas, Ste. 501, NY, NY 10001. Search our listings @ www.midcomre.com Address of LLC in jurisdiction of formation: or email [email protected] Call Paul 212 947-5500 x 100 Notice of Qualification of Blackstone Capital of the Americas, Ste 501, NY, NY 10001. Address required to be maintained in DE: 1325 S. 4th St, Louisville, KY 40208. Arts. of Partners (Cayman) V-B L.P. Authority filed Org. filed with Secy. of State of KY, 700 Temp Office Space, Wall Street with NY Dept. of State on 3/8/07. Office 160 Greentree Dr., Ste 101, Dover, DE 19904. Arts. of Org. filed with DE Secy. Of Capital Ave, Ste 152, Frankfort, KY 40601. Two windowed offices. 140 sf each. location: NY County. LP formed in Cayman Purpose: any lawful activities. LUXURY Islands (CI) on 9/26/06. NY Secy. of State State, 401 Federal St., Ste 4., Dover, DE Sublease one or both, Class A building. designated as agent of LP upon whom 19901. Purpose: any lawful activities. 2nd floor. Available Services: Phones, process against it may be served. NY Secy. Notice of Qualification of Blue Opportunity TI, Faxes, Copy, Conference Room, PROPERTIES of State shall mail process to the principal Notice of Qualification of D.B. Zwirn & Co., Fund, L.P. Authority filed with Secy. of State Additional Workstation area. business address of the LP: c/o The L.P. Authority filed with Secy. of State of of NY (SSNY) on 3/12/07. Office location: NY Broker 212 269-6126 Mr. Basdeo MIAMI BEACH/FLORIDA Blackstone Group, 345 Park Ave., NY, NY NY (SSNY) on 3/26/04. Office location: NY County. LP formed in Delaware (DE) on 2/7/07. 10154. Registered agent upon whom process County. LP formed in Delaware (DE) on SSNY designated as agent of LP upon whom may be served: CT Corporation System, 111 3/24/04. SSNY designated as agent of LP process against it may be served. SSNY shall GALLERY SPACE – UNIQUE TRUMP OCEANFRONT CONDOS 8th Ave., NY, NY 10011. CI address of LP: upon whom process against it may be served. mail process to: c/o National Registered Agents, OWN YOUR LUXURY CONDO TODAY! c/o Walkers SVP Ltd., Walker House, 87 SSNY shall mail process to: The LP, 745 5th Inc., 875 Avenue of the Americas., Ste. 501, NY, East Village – Clinton Street TRUMP GRANDE & TRUMP TOWERS Mary St., P.O. Box 908GT, George Town, Ave., 18th Fl., NY, NY 10151. DE address of NY 10001, also registered agent. DE address of Buy directly from the Developer & Save $$ 20 Foot Ceiling – 1500 sq ft plus Grand Cayman, KY1-9002, CI. Name/address LP: The Corporation Trust Co., 1209 Orange LP: 160 Greentree Dr., St 101, Dover, DE Furnished Condo Hotel units from $325k of genl. ptr. available from SSNY. Cert. of LP St., Wilmington, DE 19801. Name/address of 19901. Name/address of genl. ptr. available Call Owner, Joseph 1-4 Bedrm Residential Condos from $875k filed with Registrar of Exempted LPs, Citrus genl. ptr. available from SSNY. Cert. of LP from SSNY. Cert. of LP filed with DE Secy. Ask for details on our FLY-BUY Program 212-255-2600 Grove Bldg., George Town, Grand Cayman, CI. filed with DE Secy. of State, Townsend Bldg., of State, Federal & Duke of York Sts., Dover, Call Exclusively Baronoff 305.213.3606 Purpose: any lawful activity. Dover, DE 19901. Purpose: any lawful activity. DE 19901. Purpose: any lawful activities.

32 | Crain’s New York Business | May 28, 2007 nb22p32_33_34cls.qxp 5/24/07 11:16 AM Page 33

PUBLIC & LEGAL NOTICES

Notice of Formation of Brilliant Trading Notice of Formation of 165 William Street Notice of Qualification of Izara Focus Fund, Notice of Qualification of ETI Partners, LLC, Notice of application for Authority of limited Company, LLC. Arts. of Org. filed with Secy. of Investor, LLC. Arts. of Org. filed with NY LP, App. for Auth. filed Sec'y of State (SSNY) App. for Auth. filed Sec'y of State (SSNY) liability company (LLC). Name: OIKOS State of N.Y. (SSNY) on 5/27/2004. Office Dept. of State on 4/10/07. Office location: NY 12/26/06. Office location: NY County. LP org. 7/22/04. Office location: NY County. LLC org. VENTURES LLC. Application for Authority location: NY County. Principal business County. Secy. of State designated as agent of in DE 12/19/06. SSNY designated as agent of in DE 7/21/04. SSNY designated as agent of filed with the Department of the State of New location: 580 Fifth Ave., Ste. 800, NY, NY LLC upon whom process against it may be LP upon whom process against it may be LLC upon whom process against it may be York on September 30, 2003. The jurisdiction 10036. SSNY designated as agent of LLC served. Secy. of State shall mail process to: served. SSNY shall mail copy of process to served. SSNY shall mail copy of process to of its formation is Delaware. The date of its upon whom process against it may be served. c/o Metro Loft Management, 67 Wall St., NY, Attn: John Raniolo, 747 Third Ave., 10th Fl., 535 Madison Ave., NY, NY 10022, the principal formation is September 26, 2003. Office SSNY shall mail process to: One Rockefeller NY 10005, principal business address of the NY, NY 10017. DE office addr.: c/o CSC, 2711 office addr. of LLC. Cert. of Form. on file: location: New York County. The Secretary of Plaza, 28th Fl., NY, NY 10020. Term: until LLC. Purpose: any lawful activity. Centerville Rd., Wilmington, DE 19808. Cert. SSDE, Townsend Bldg., Dover, DE 19901. State of New York (SSNY) is designated as 12/31/2024. Purpose: any lawful activity. of LP on file: SSDE, Townsend Bldg., Dover, Purpose: any lawful activities. agent of LLC upon whom process against it Notice of Formation of Argot Partners, LLC. DE 19901. Name/addr. of each gen. ptr. avail. may be served. The principal business location Notice of Qualification of 85 Tenth First Mezz Arts. of Org. filed with Secy. of State of NY at SSNY. Purpose: any lawful activities. Notice of Formation of Colen MD Plastic and the address SSNY shall mail copy of Associates, L.L.C. Authority filed with NY Dept. (SSNY) on 2/07/07. Office location: NY Co. Surgery Suite, P.L.L.C. Arts. of Org. filed process to is c/o Steven K. Aronoff, 499 Park of State on 5/10/07. Office location: NY SSNY designated as agent of LLC upon whom Notice of Formation Whaley Consulting with Secy. of State of NY (SSNY) on 3/26/07. Ave., 6th Fl., New York, NY 10022. The County. Principal business address: 60 process against it may be served. SSNY shall Services, LLC art. of org. filed Secy. of State Office location: NY Co. SSNY designated as address of the office required to be maintained Columbus Circle, NY, NY 10023. LLC formed mail process to: National Registered Agents, NY (SSNY) 1/25/07. Off. loc. in NY Co. SSNY agent of LLC upon whom process against it in the jurisdiction of its formation is 203 NE in Delaware (DE) on 5/9/07. NY Secy. of State Inc., 875 Avenue of the Americas, Ste. 501, designated as agent of LLC upon whom may be served. SSNY shall mail process to: Front St., Ste. 101, Milford, DE 19963. The designated as agent of LLC upon whom NY, NY 10001, also registered agent. Purpose: process may be served. SSNY shall mail The LLC, 742 Park Ave., NY, NY 10021. name and address of the authorized officer in process against it may be served and shall any lawful activities. copy of process to: 402 E 83rd St #5A, NY, Purpose: any lawful activities. the jurisdiction of formation where a copy of mail process to: c/o Corporation Service Co. NY 10028. Purpose: Any lawful purpose. its certificate of formation is filed is Delaware (CSC), 80 State St., Albany, NY 12207. DE Notice of Formation of The Motion Picture Division of Corporations, John G. Townsend address of LLC: c/o CSC, 2711 Centerville Rd., 15TH STREET LLC Articles of Org. filed NY Notice of Qualification of Blackstone T Fund Bldg., 401 Federal St., Dover, DE 19901. Card Co., LLC. Arts. of Org. filed with NY L.P., App. for Auth. filed Sec'y of State (SSNY) Wilmington, DE 19808. Arts. of Org. filed with Dept. of State on 4/17/07. Office location: NY Sec. of State (SSNY) 9/12/03. Office in New York Co. SSNY desig. agent of LLC upon 12/21/06. Office location: NY County. LP org. DE Secy. of State, Federal & Duke of York Sts., County. Principal business address: 137 NOTICE OF FORMATION OF LIMITED LIABILITY whom process may be served. SSNY shall in DE 12/20/06. SSNY designated as agent of Dover, DE 19901. Purpose: any lawful activity. Varick St., 5th Fl., NY, NY 10013. Secy. of COMPANY. NAME: KIDVILLE FRANCHISE mail copy of process to c/o Leahy & LP upon whom process against it may be State designated as agent of LLC upon COMPANY, LLC. Articles of Organization were Johnson, P.C., 120 Wall St., NY, NY 10005. served. SSNY shall mail copy of process to Notice of Formation of 240 Seaman Realty whom process against it may be served. filed with the Secretary of State of New York Purpose: Any lawful purpose. Attn: J. Tomilson Hill, 345 Park Ave., NY, LLC. Arts. of Org. filed with Secy. of State Secy. of State shall mail process to: c/o Mark NY 10154. DE office addr.: c/o CSC, 2711 (SSNY) on 04/03/07. Office location: New of N.Y. (SSNY) on 9/16/03. Office location: Rosenblum, 37 Brighton 11th St., Brooklyn, Notice of Formation of 1405 FIFTH AVENUE Centerville Rd., Wilmington, DE 19808. Cert. York County. SSNY has been designated as NY County. SSNY designated as agent of NY 11235. Purpose: any lawful activity. of LP on file: SSDE, Townsend Bldg., Dover, agent of the LLC upon whom process against LLC upon whom process against it may be RETAIL, LLC, a domestic Limited Liability Company (LLC). Articles of Organization DE 19901. Name/addr. of each gen. ptr. avail. it may be served. SSNY shall mail a copy of served. SSNY shall mail process to: Notice of Qualification of 1330 Mezz II LLC. at SSNY. Purpose: any lawful activities. process to the LLC, 163 East 84th Street, Corporation Service Co., 80 State St., Albany, filed with Secretary of State on 12/01/2006. Authority filed with Secy. Of State of NY NY Office location: NEW YORK County. New York, New York 10028. Purpose: For NY 12207, registered agent upon whom process (SSNY) on 12/19/2006. Office location: New any lawful purpose. may be served. Purpose: any lawful activity. Secretary of State is designated as agent Notice of Formation of 384 Broome Street, York County. LLC formed in Delaware(DE) on upon whom process against the LLC may LLC. Arts. of Org. filed with Secy. of State 12/18/2006. SSNY designated as agent of LLC Notice of Qualification of FS Private Notice of Formation of JEH Ventures LLC. be served. Secretary of State shall mail a of NY (SSNY) on 2/3/06. Office location: NY upon whom process against it may be served. Investments III LLC. Authority filed with Secy. Arts. of Org. filed with NY Dept. of State on copy of any process against the LLC served County. SSNY designated as agent of LLC SSNY shall mail process to: c/o Macklowe of State of NY (SSNY) on 5/25/00. Office 4/20/07. Office location: NY County. Secy. upon him/her to C/O YUCO MANAGEMENT upon whom process against it may be Properties, 767 Fifth Avenue, 21st Flr., NY, NY location: NY County. LLC formed in Delaware of State designated as agent of LLC upon INC., 295 MADISON AVE., 34TH FL, NEW served. SSNY shall mail process to: 270 10153. Address required to be maintained in (DE) on 3/1/00. SSNY designated as agent of whom process against it may be served. YORK, NY 10017. Purpose: To engage in Lafayette St., 4th Fl., NY, NY 10012. home jurisdiction: National Registered Agents, LLC upon whom process against it may be Secy. of State shall mail process to: 345 W. any lawful act or activity. Purpose: any lawful activity. Inc.,160 Greentree Drive, Ste 101, Dover, Kent served. SSNY shall mail process to: c/o CT 58th St., Ste. #9W, NY, NY 10019, principal County, DE 19904. Arts. Of Org. filed with DE Corporation System, 111 8th Ave., NY, NY business address of the LLC. Purpose: any Notice of Qualification of 85 Tenth NY Notice of Formation of ProVisual Advertising Secy. of State, Townsend Building, Dover, DE Investors, L.L.C. Authority filed with NY Dept. 10011. DE address of LLC: The Corporation lawful activity. 19901. Purpose: any lawful activities. LLC Filed with the NY Dept. of State on 6/10/04. of State on 4/5/07. Office location: NY County. Office Location: NY County. Secy. of State Trust Co., 1209 Orange St., Wilmington, DE Principal business address: 60 Columbus 19801. Cert. of Form. filed with DE Secy. of Notice of Formation of Mid City Gym and designated as agent of LLC upon whom Notice of Qualification of Pelagic Capital Circle, NY, NY 10023. LLC formed in Delaware process against it may be served. Secy. of State State, Townsend Bldg., Dover, DE 19901. Tanning, LLC (limited liability company) Art. Advisors LP. Authority filed with Secy. of State (DE) on 4/4/07. NY Secy. of State designated Purpose: any lawful activity. of Or. filed with Sec. of State NY (SSNY) on shall mail process to the LLC Jeffry R. Moore, of N.Y. (SSNY) on 4/9/07. Office location: NY as agent of LLC upon whom process against it 192 Avenue of the Americas Ste 5F. New York, 4/10/2007, office located in the County of may be served. NY Secy. of State shall mail County. Principal business location: 101 Park NY. 10013. Purpose, Any lawful Activity. Notice of Qualification of Lusman Capital New York. SSNY designated agent for service Avenue, 21st Fl., NY, NY 10178. LP formed in process to: c/o Corporation Service Co. (CSC), and shall mail a copy of any process to 80 State St., Albany, NY 12207. DE address of Management, LLC, filed under the original Delaware (DE) on 12/5/06. SSNY designated name Magnum Opus Management, LLC, App. Howard W. Segal P.C., 845 3rd Ave., #1740 as agent of LP upon whom process against it LLC: c/o CSC, 2711 Centerville Rd., Wilmington, Notice of Formation of Sands Brothers NYC 10022. Latest date to dissolve DE 19808. Arts. of Org. filed with DE Secy. of Venture Capital II LLC. Arts. of Org. filed with for Auth. filed Sec'y of State (SSNY) 5/15/06. may be served. SSNY shall mail process to: Office loc.: NY County. LLC org. in DE 12/31/2087. Purpose: any lawful activity. c/o Corporation Service Company (CSC), 80 State, Townsend Bldg., Dover, DE 19901. Secy. of State of NY (SSNY) on 3/28/2000. Purpose: any lawful activity. Office location: NY County. SSNY designated 5/11/06. SSNY designated as agent of LLC State St., Albany, NY 12207. DE address of upon whom process against it may be served. Notice of Qualification of Clark Wamberg, as agent of LLC upon whom process against LP: c/o CSC, 2711 Centerville Road, Ste. 400, SSNY shall mail copy of process to Attn: Joel LLC. Authority filed with Secy. of State of 50 MORTON STREET LLC, domestic Limited it may be served. SSNY shall mail process to: Wilmington, DE 19808. Name/address of Lusman, 45 W. 67th St., #26A, NY, NY 10023. NY (SSNY) on 3/01/07. Office location: NY Liability Company (LLC). Articles of c/o Steven B. Sands, 90 Park Ave., NY, NY each genl. ptr. available from SSNY. Cert. of DE office addr.: CSC, 2711 Centerville Rd., County. LLC formed in Delaware (DE) on Organization filed with Secretary of State on 10016. Term: until 12/31/2030. Purpose: any LP filed with DE Secy. of State, 401 Federal Wilmington, DE 19808. Cert. of Form. on file: 10/24/06. SSNY designated as agent of LLC 03/23/07. NY Office location: NEW YORK lawful activity. St., Ste. 4, Dover, DE 19901. Purpose: any SSDE, Townsend Bldg., Dover, DE 19901. upon whom process against it may be County. Secretary of State is designated as lawful activity. Purpose: any lawful activities. served. SSNY shall mail process to: c/o agent upon whom process against the LLC Notice of Qualification of Primacy Relocation, National Registered Agents, Inc., 875 Ave Notice of Qualification of CAM-NMP GP, LLC. may be served. Secretary of State shall mail a LLC. Authority filed with Secy. of State of of the Americas, Ste 501, NY, NY 10001. Authority filed with Secy. of State of N.Y. copy of any process against the LLC served NY (SSNY) on 1/23/07. Office location: NY Notice of Formation of 1405 FIFTH AVENUE Address required to be maintained in DE: (SSNY) on 4/10/07. Office location: NY upon him/her to THE LLC, 50 MORTON ST., County. LLC formed in Tennessee (TN) on APARTMENTS, LLC, a domestic Limited 160 Greentree Dr., Ste 101, Dover, DE County. Principal business location: 2853 NEW YORK, NY 10014. General purposes. 12/13/96. SSNY designated as agent of LLC Liability Company (LLC). Articles of 19904. Arts. of Org. filed with DE Secy. Of Brandywine St., NW, Washington, DC 20008. upon whom process against it may be Organization filed with Secretary of State on State, 401 Federal St., Ste 4., Dover, DE LLC formed in Delaware (DE) on 3/22/07. Notice of Formation of 66 WEST BARCLAY served. SSNY shall mail process to: c/o 12/18/2006. NY Office location: NEW YORK 19901. Purpose: any lawful activities. SSNY designated as agent of LLC upon whom STREET, LLC, a domestic Limited Liability National Registered Agents, Inc., 875 Ave of County. Secretary of State is designated as process against it may be served. SSNY shall Company (LLC). Articles of Organization filed the Americas, Ste 501, NY, NY 10001. agent upon whom process against the LLC Notice of Formation of 176 East 3 Realty LLC. mail process to: c/o Corporation Service with Secretary of State on 2/12/2007. NY Address required to be maintained in TN: may be served. Secretary of State shall mail a Arts. of Org. filed with Secy. of State of NY Company (CSC), 80 State St., Albany, NY Office location: NEW YORK County. Secretary 6077 Primacy Pkwy, Ste 300, Memphis, TN copy of any process against the LLC served (SSNY) on 3/23/07. Office location: NY Co. 12207. DE address of LLC: c/o CSC, 2711 of State is designated as agent upon whom 38119. Arts. of Org. filed with TN Secy. Of upon him/her to C/O YUCO MANAGEMENT SSNY designated as agent of LLC upon whom Centerville Road, Ste. 400, Wilmington, DE process against the LLC may be served. State, 312 Eighth Ave N., 6th Fl, William INC., 295 MADISON AVE., 34TH FL, NEW process against it may be served. SSNY shall 19808. Arts. of Org. filed with DE Secy. of Secretary of State shall mail a copy of any Snodgrass Tower, Nashville, TN 37243. YORK, NY 10017. Purpose: To engage in any mail process to: c/o The Icon Group, 433 State, 401 Federal St., Dover, DE 19901. process against the LLC served upon him/her Purpose: any lawful activities. lawful act or activity. W.14th St., Ste 429 3R, NY, NY 10014. Purpose: investment management services. to THE LLC, 498 7TH AVE., 8TH FLR. NEW YORK, NY 10018. GENERAL PURPOSES Purpose: any lawful activities. Notice of Formation 496 Broadway Realty, LLC Notice of App. of Auth. of Lime Brokerage Notice of Qualification of The Chalice Fund L.P. Notice of Qualification of Blackstone FS Fund art. of org. filed Secy. of State NY (SSNY) Holdings LLC, filed NY Secy of State (SSNY) Notice of Formation of 420 East 66 Realty Authority filed with Secy. of State of N.Y. L.P., App. for Auth. filed Sec'y of State (SSNY) 11/9/06. Off. loc. in NY Co. SSNY designated 4-30-07; Organized DE 4-23-07; NY office: LLC. Arts. of Org. filed with Secy. of State of (SSNY) on 12/21/06. Office location: NY 10/18/06. Office location: NY County. LP org. as agent of LLC upon whom process may be NY Cty, 377 Broadway, NY, NY 10013; SSNY NY (SSNY) on 4/20/07. Office location: NY Co. County. LP formed in Delaware (DE) on in DE 10/17/06. SSNY designated as agent of served. SSNY shall mail copy of process to: Designated Agent For Service of Process, SSNY designated as agent of LLC upon whom 10/12/06. SSNY designated as agent of LP LP upon whom process against it may be c/o Mark D. Mermel, Esq., 98 Cuttermill Rd, copy to Lime Brokerage Holdings LLC, 377 process against it may be served. SSNY shall upon whom process against it may be served. served. SSNY shall mail copy of process to Ste. 234, Great Neck, NY 11201. Purpose: Any Broadway, NY, NY 10013; Registered office mail process to: : c/o The Icon Group, 433 SSNY shall mail process to: c/o Grail Partners Attn: J. Tomilson Hill, 345 Park Ave., NY, NY lawful purpose, managed by members, DE: Corporation Service Company, 2711 West 14th St., Ste 429 3R, NY, NY 10014. LLC, One Post Office Square, Boston, MA 10154. DE office addr.: c/o CSC, 2711 latest date: 11/6/2105. Centerville Rd., Ste. 400, Wilmington, DE Purpose: any lawful activities. 02109. DE address of LP: The Corporation Centerville Rd., Wilmington, DE 19808. Cert. 19808; Cert. Formation filed DE Secy State, Trust Company, 1209 Orange St., Wilmington, of LP on file: SSDE, Townsend Bldg., Dover, Notice of Formation of NYC FILM PARTNERS, 401 Federal St., Ste. 4, Dover, DE 19901; Purpose: any lawful activity. Name: PRHC LLC Art. of Org. Filed Sec. of DE 19801. Name/address of each genl. ptr. DE 19901. Name/addr. of each gen. ptr. avail. LLC. Arts. of Org. filed with Secy. of State of State of NY 2/11/02 Off. Loc.: New York Co. available from SSNY. Cert. of LP filed with DE at SSNY. Purpose: any lawful activities. N.Y. (SSNY) on 3/8/07. Office location: NY SSNY designated as Agent upon whom process Secy. of State, P.O. Box 898, Dover, DE 19903. County. SSNY designated as agent of LLC Notice of Qualification of SLG 48E43 LLC. against it may be served. SSNY to mail copy Purpose: all lawful purposes. NOTICE OF FORMATION of MAURIEL & upon whom process against it may be served. Authority filed with Secy. of State of NY of process to THE LLC, James S. Klein, KAPOUYTIAN LLP, domestic Limited Liability SSNY shall mail process to: c/o Frankfurt (SSNY) on 3/21/07. Office location: NY Herzfeld & Rubin, P.C., 40 Wall Street, 54th NOTICE OF FORMATION OF LIMITED LIABILITY Partnership (LLP). Cert. of Registration filed Kurnit Klein & Selz, P.C., 488 Madison Ave., County. LLC formed in Delaware (DE) on Flr., NY, NY 10005. Purpose: Any lawful act. COMPANY. NAME: KIDVILLE FRANCHISE with Secy. of State of NY (SSNY) on 3/28/07. NY, NY 10022, Attn: Thomas D. Selz, Esq. 3/20/07. SSNY designated as agent of LLC PARTNERS, LLC. Articles of Organization NY Office location: 168 Second Avenue, Box Purpose: any lawful activity. upon whom process against it may be Notice of Formation of Added Opportunity were filed with the Secretary of State of New 352, New York, NY 10003, NEW YORK served. SSNY shall mail process to: c/o LLC. Arts. of Org. filed with Secy. of State of York (SSNY) on 04/03/07. Office location: County. SSNY designated as agent upon Notice of formation: Mark's Bookkeeping National Registered Agents, Inc., 875 Ave of NY (SSNY) on 10/10/2006. Office location: NY New York County. SSNY has been designated whom process against the LLP may be Services LLC a NYS LLC filed with SSNY on the Americas, Ste 501, NY, NY 10001, also County. SSNY designated as agent of LLC as agent of the LLC upon whom process served. SSNY shall mail a copy of any 06/05/02. Off. Loc Co. SSNY designated as registered agent. Address required to be upon whom process against it may be served. against it may be served. SSNY shall mail a process against the LLP served upon him/her agent of LLC, upon whom process may be maintained in DE: 160 Greentree Dr., Ste 101, SSNY shall mail process to: c/o Corporate copy of process to the LLC, 163 East 84th to the LLP at 168 Second Avenue, Box 352, served. SSNY shall mail copy of process to: Dover, DE 19904. Arts. of Org. filed with DE Service Company, 80 State Street, NY, NY Street, New York, New York 10028. Purpose: New York, NY 10003. Purpose: To practice the The LLC, 40 W 24 St #3F, NY, NY 10010. Secy. Of State, 401 Federal St., Ste 4., Dover, 12207-2543. Purpose: any lawful activities. For any lawful purpose. profession of law. Purpose: Any Lawful Activities. DE 19901. Purpose: any lawful activities.

May 28, 2007 | Crain’s New York Business | 33 CNYB 05-28-07 A 34 5/24/2007 6:20 PM Page 1

THE WEEKS AHEAD

THIS WEEK’S EVENTS Lehman College holds workshop on JUNE 4-10 St. Fee: $10 members and $15 JUNE 6 MAY 29 credit management. 10:00 a.m. to 1:00 JUNE 5 nonmembers in advance; $20 for all at B’nai B’rith Real Estate Unit holds Business Sanity holds workshop on p.m., CUNY, 2501 Grand Concourse, Crain’s New York Business holds door. (718) 625-1369 or lunch program on what’s happening in online marketing. 7:30 p.m. to 9:00 room 340. Free. (718) 960-8697 or networking breakfast and program with [email protected]. Chelsea with Alan Weisman and Stuart p.m., Park Slope Food Co-op, 782 [email protected]. Elliot Sander, chief executive of the JUNE 6 Siegel of Grubb & Ellis. 12:00 p.m. to Union St., second-floor meeting room, MAY 31 Metropolitan Transit Authority. 8:00 Sovereign Bank and National 2:00 p.m., Cornell Club, 6 E. 44th St., Brooklyn. Free. (718) 499-2831. New York Society of Security Analysts a.m. to 9:30 a.m., Hilton New York, Association of Women Business Ivy Room. Fee: $55 in advance, $65 at MAY 30 holds forum on hedge funds, private 1335 Sixth Ave. Fee: $60. Owners, New York City, hold door. (212) 885-7239 or New York Software Industry equity and traditional managers. 5:45 (212) 210-0739 or networking breakfast program. 7:45 a.m. [email protected]. Association holds legal forum. 6:00 p.m. p.m. to 8:15 p.m., 1177 Sixth Ave., www.newyorkbusiness.com. to 9:00 a.m., 251 Park Ave. South. Fee: —adrianne pasquarelli to 8:00 p.m., 55 Broad St., 10th floor. second floor. Fee: $75 members, $115 JUNE 5 $35 Nawbo members and $45 Fee: free for members and $20 nonmembers. (646) 871-3405. Action Coach holds information session nonmembers in advance; additional $15 nonmembers in advance; $25 for all at MAY 31 on taking time off from your business. for all at door. (212) 252-1100 or TO LIST YOUR EVENT door. (212) 475-4503. Queens Economic Development Corp. 12:30 p.m. to 2:00 p.m., Crema [email protected]. Crain’s lists meetings online and includes them in the MAY 30 holds workshop on starting and Restaurante, 111 W. 17th St. Free. JUNE 6 print edition as space permits. NYC events with fees Small Business Development Center at operating a home-based business. 6:00 (646) 862-1710 or Thumbprint Communications Inc. under $300 are considered for the print publication. p.m. to 8:00 p.m., Queensborough Hall, [email protected]. holds workshop on jump-starting your Listings can be submitted only through the Crain’s More meetings online at 120-55 Queens Blvd., fourth-floor JUNE 6 career. 10:00 a.m. to 12:30 p.m., 1500 Web site. Go to www.newyorkbusiness.com and www.newyorkbusiness.com penthouse suite, Kew Gardens. Fee: $10. Networking for Professionals holds Broadway. Fee: $35 if registered by June click on “Events.” Sponsors have a choice of sever- Click on “Events” (718) 263-0546 or business networking mixer reception. 1, $45 thereafter. (888) 345-7770 or al free or paid listing options. All business events [email protected]. 6:00 p.m. to 8:00 p.m., Via, 16 W. 21st [email protected]. will be posted online within two business days.

PUBLIC & LEGAL NOTICES

Notice of Formation of Stowe Group, LLC, Art. Notice of Qualification of Cardinal Point Fund I Notice of Qualification of Post Avenue Portfolio Notice of Qualification of Tiedemann/Moross Notice is hereby given that a license, number of Org. filed Sec'y of State (SSNY) 3/7/07. LP, App. for Auth. filed Sec'y of State (SSNY) Investor, LLC. Authority filed with NY Dept. of Partners, LLC, App. for Auth. filed Sec'y of 1192087, for a liquor license has been Office location: NY County. SSNY designated 1/22/04. Office location: NY County. LP org. in State on 3/16/07. Office location: NY County. State (SSNY) 2/16/06. Office location: NY applied for by Clonmel Restaurant Corp. at as agent of LLC upon whom process against DE 1/20/04. SSNY designated as agent of LP LLC formed in Delaware (DE) on 3/13/07. County. LLC org. in DE 1/19/06. SSNY retail in a restaurant under the Alcoholic it may be served. SSNY shall mail copy of upon whom process against it may be served. Secy. of State designated as agent of LLC upon designated as agent of LLC upon whom Beverage Control Law at 557 12th Street, process to 57 West 57th St., Ste. 505, NY, NY SSNY shall mail copy of process to Attn: Greg whom process against it may be served. Secy. process against it may be served. SSNY New York, New York in New York County 10019. Purpose: any lawful activities. Elmlinger, 767 Third Ave., 14th Fl., NY, NY of State shall mail process to: The Dermot shall mail copy of process to 535 Madison for on premises consumption. 10017, the principal office addr. of LP. Cert. of Company, Inc., 320 W. 57th St., 5th Fl., NY, NY Ave., 37th Fl., NY, NY 10022. DE office addr.: Notice of Qualification of Solas Capital, LLC, LP on file: SSDE, Townsend Bldg., Dover, DE 10019, principal business address of the LLC. c/o CSC, 2711 Centerville Rd., Wilmington, Notice of Qualification of Mather Productions, App. for Auth. filed Sec'y of State (SSNY) 19901. Name/addr. of each gen. ptr. avail. at DE address of LLC: c/o National Corporate DE 19808. Cert. of Form. on file: SSDE, LLC. Authority filed with Secy. of State of 9/17/04. Office location: NY County. LLC org. SSNY. Purpose: any lawful activities. Research, Ltd., 615 S. DuPont Hwy., Dover, DE Townsend Bldg., Dover, DE 19901. Purpose: N.Y. (SSNY) on 1/2/07. Office location: NY in DE 9/15/04. SSNY designated as agent of 19801. Arts. of Org. filed with DE Secy. of any lawful activities. County. LLC formed in Delaware (DE) on LLC upon whom process against it may be State, 401 Federal St., Ste. 4, Dover, DE 19901. 5/24/05. SSNY designated as agent of LLC served. SSNY shall mail copy of process to Notice of Qualification of POLYNOMA LLC. Authority filed with Secy. of State of N.Y. Purpose: any lawful activity. Notice of Formation of 1540 Second Realty upon whom process against it may be Attn: Frederick Tucker Golden, 237 Park LLC. Arts. of Org. filed with Secy. of State of served. SSNY shall mail process to: 309 Ave., 8th Fl., NY, NY 10017. DE office addr.: (SSNY) on 4/10/07. Office location: NY County. LLC formed in Delaware (DE) on Notice of Qualification of Old Square Capital NY (SSNY) on 4/20/07. Office location: NY Co. West 49th Street, NY, NY 10019. DE address c/o CSC, 2711 Centerville Rd., Wilmington, SSNY designated as agent of LLC upon whom of LLC: 874 Walker Road, Ste. C, Dover, DE DE 19808. Cert. of Form. on file: SSDE, 4/4/07. SSNY designated as agent of LLC Advisors, LLC, filed under the original name upon whom process against it may be served. Old Square Advisers, LLC, App. for Auth. filed process against it may be served. SSNY shall 19904. Arts. of Org. filed with DE Secy. of Townsend Bldg., Dover, DE 19901. Purpose: mail process to: c/o The Icon Group, 433 West State, 401 Federal St., Ste. 4, Dover, DE 19901. any lawful activities. SSNY shall mail process to: c/o Jack Gray, Sec'y of State (SSNY) 2/10/06. Office location: 201 W. 52nd St., 3rd Fl., NY, NY 10019. DE NY County. LLC org. in DE 2/7/06. SSNY 14th St., Ste 429 3R, NY, NY 10014. Purpose: Purpose: any lawful activity. Notice of Qualification of Protégé address of LLC: c/o Corporation Service designated as agent of LLC upon whom any lawful activities. Opportunistic Fund, LP, filed under the Company, 2711 Centerville Road, Ste. 400, process against it may be served. SSNY shall Name: ROKARA, LLC Art. of Org. Filed Sec. original name Protege Strategic Fund, LP, Wilmington, DE 19808. Arts. of Org. filed with mail copy of process to Attn: Kemal Ahmed, Notice of formation of MRAJ Spring Street, Of State of NY 1/10/07. Off. Loc. New York. App. For Auth. filed Sec'y of State (SSNY) DE Secy. of State, 401 Federal St., Dover, DE 880 Third Ave., 3rd Fl., NY, NY 10022. DE LLC. Art. Of Org. filed with Secy. Of State of Co. SSNY designated as agent upon whom 2/20/07. Office loc.: NY County. LP org. in 19901. Purpose: any lawful activity. office addr.: c/o CSC, 2711 Centerville Rd., NY (SSNY) on 1/10/07. Office location: New process against it may be served. SSNY to DE 2/14/07. SSNY designated as agent of LP Wilmington, DE 19808. Cert. of Form. on file: York County. SSNY designated as agent of mail copy of process to The LLC, 122 First upon whom process against it may be Notice of Qualification of Cardinal Point SSDE, Townsend Bldg., Dover, DE 19901. the LLC upon whom process against it may Avenue, NY, NY 10009. Purpose: Any lawful served. SSNY shall mail copy of process to Associates LLC, App. for Auth. filed Sec'y of Purpose: any lawful activities. be served. SSNY shall mail a copy of any activity. Attn: Jeffrey Tarrant, 25 W. 53rd St., NY, NY State (SSNY) 1/21/04. Office location: NY process to: c/o The LLC, 199 Duane Street, 10019. DE office addr.: CSC, 2711 Centerville County. LLC org. in DE 10/9/03. SSNY 5th Floor New York, NY 10013 Purpose: To Notice of Formation of 95WALLAB, LLC, a Notice of Qualification of FrontPoint Partners engage in any lawful act or activity. Rd., Wilmington, DE 19808. Cert. of LP on designated as agent of LLC upon whom LLC. Authority filed with NY Dept. of State on domestic Limited Liability Company. Arts. of file: SSDE, Townsend Bldg., Dover, DE 19901. process against it may be served. SSNY shall 4/25/07. Office location: NY County. Principal Org. filed with the SSNY on 05/04/01. Office Name/addr. of each gen. ptr. avail. at SSNY. mail copy of process to Attn: Greg Elmlinger, Notice of Qualification of Deister Capital location: New York County. SSNY has been business address: 2 Greenwich Plaza, Onshore Fund, LP, App. for Auth. filed Sec'y Purpose: any lawful activities. 767 Third Ave., 14th Fl., NY, NY 10017, the Greenwich, CT 06830. LLC formed in designated as agent upon whom process principal office addr. of LLC. Cert. of Form. on of State (SSNY) 2/5/07. Office location: NY against the LLC may be served. SSNY shall Delaware (DE) on 10/12/00. NY Secy. of State County. LP org. in DE 2/1/07. SSNY Name: ORIGINAL SAINT MARK’S PIZZA, file: SSDE, Townsend Bldg., Dover, DE 19901. designated as agent of LLC upon whom mail a copy of process to: A & E Stores, Inc., LLC Art. of Org. Filed Sec. Of State of NY Purpose: any lawful activities. designated as agent of LP upon whom 1000 Huyler Street, Teterboro, NJ 07608. process against it may be served and shall process against it may be served. SSNY shall 3/1/07. Off. Loc. New York. Co. SSNY mail process to: c/o CT Corporation System, Purpose: Any Lawful Purpose. Latest date upon designated as agent upon whom process mail copy of process to Attn: Hilmar which LLC is to dissolve: No Specific Date. Notice of Qualification of Lederer, Levine & 111 8th Ave., NY, NY 10011, registered agent Schaumann, 1114 6th Ave., 37th Fl., NY, NY against it may be served. SSNY to mail Associates, L.L.C., App. for Auth. filed Sec'y of upon whom process may be served. DE copy of process to The LLC C/O Morwin 10036. DE office addr.: CSC, 2711 Centerville State (SSNY) 4/13/04. Office loc.: NY County. address of LLC: CT Corporation, 1209 Orange Rd., Wilmington, DE 19808. Cert. of LP on OCCAMS RAZOR, LLC Articles of Organization Schmookler, P.O. Box 1568, FDR Station, LLC org. in NJ 1/3/01. SSNY designated as St., Wilmington, DE 19801. Arts. of Org. filed filed with NY Sec. of State(SSNY) 3/13/07. NY, NY 10150. Purpose: Any lawful activity. file: SSDE, Townsend Bldg., Dover, DE 19901. agent of LLC upon whom process against it with DE Secy. of State, 401 Federal St., Ste. 4, Name/addr. of each gen. ptr. avail. at SSNY. Office is located in NY County. SSNY is may be served. SSNY shall mail copy of Dover, DE 19901. Purpose: any lawful activity. Purpose: any lawful activities. designated as agent of the LLC upon whom Notice of Formation of 158 West 23 LLC. Arts. process to c/o Ken Lederer, 20 E. 35th St., process may be served. SSNY shall mail of Org. filed with Secy. of State of NY (SSNY) #3M, NY, NY 10016. NJ office addr.: 1099 copy of process to c/o Joseph Zawadzki, on 4/20/04. Office location: NY Co. SSNY Notice of Formation of Sprocket Films, LLC. GEM FOR JOY, LLC, domestic Limited Liability Wall Street W., Lyndhurst, NJ 07071. Cert. of Art. of Org. filed with the Secy. of St. of New Company (LLC). Articles of Organization filed 144 W. 27th St., #3F, NY, NY 10001. designated as agent of LLC upon whom Form. on file: NJ Div. of Revenue, PO Box 308, Purpose: Any lawful purpose. process against it may be served. SSNY shall York (SSNY) on 09/23/05. N.Y. Off. Loc.: NY with Secretary of State on 02/22/07. NY Office Trenton, NJ 08646. Purpose: to practice the County. SSNY has been designated as agent location: NEW YORK County. Secretary of mail process to: c/o Rossrock LLC, Attn: profession of Certified Public Accountancy. Mr.James Ross, 150 East 52nd St., 27th Fl, of LLC upon process against it may be served. State is designated as agent upon whom Notice of Formation of Saint Jane Jazz, LLC. NY, NY 10022. Purpose: any lawful activities. The P.O. address to which the SSNY shall mail process against the LLC may be served. Arts. of Org. filed with NY Dept. of State on Notice of Qualification of Needham Contrarian a copy of any process against the LLC served Secretary of State shall mail a copy of any 4/30/07. Office location: NY County. Secy. of Notice of Formation of CIP 55, LLC. Arts of (QP) Fund, L.P., App. for Auth. filed Sec'y of upon him/her is C/O the LLC: 536 East Fifth St., process against the LLC served upon him/her State designated as agent of LLC upon whom Org filed with Secy of State of NY (SSNY) on State (SSNY) 5/5/04. Office location: NY New York, NY, 10009. Purpose of the LLC: to GONZALEZ OBERLANDER & HOLOHAN process against it may be served. Secy. of 10/14/04. Office location: New York County. County. LP org. in DE 5/3/04. SSNY designated any lawful act. LLP, 170 BROADWAY, STE.1515, NEW YORK, State shall mail process to: 329 W. 101st St., SSNY designated as agent of the llc, upon as agent of LP upon whom process against it NY 10038. General purposes. Ste. 3E, NY, NY 10025, principal business whom process against it may be served. may be served. SSNY shall mail copy of Notice of Qualification of Millenco, L.L.C. address of the LLC. Purpose: any lawful activity. SSNY shall mail process to: c/o Cipriani, process to Attn: Glen W. Albanese, 445 Park Authority filed with Secy. of State of N.Y. HUDSON REAL ESTATE GROUP, LLC 110 East 42nd St., New York, NY 10017. Ave., NY, NY 10022. DE office addr.: CTC, (SSNY) on 10/16/2006. Office location: NY Notice of formation of the above Limited Notice of App. for Auth. for LLC. Name: Purpose: To engage in any lawful business. 1209 Orange St., Wilmington, DE 19801. Cert. County. LLC formed in Delaware (DE) on Liability Company (“LLC”). Articles of EMPIRE 33RD ST. LLC Filed Sec. of State of of LP on file: SSDE, Townsend Bldg., Dover, 6/1/1989. SSNY designated as agent of LLC Organization filed with the Department of the NY (SSNY) 3/13/07. Juris.: DE. Org: 3/8/07. Notice of Formation of Santibanez LLC. Arts. DE 19901. Name/addr. of each gen. ptr. avail. upon whom process against it may be State of NY on 3/27/2007. Office location, Off. Loc: NY. SSNY is designated as agent of of Org. filed with NY Dept. of State on at SSNY. Purpose: any lawful activities. served. SSNY shall mail process to principal County of New York. The street address is: LLC upon process against it may be served. 4/6/07. Office location: NY County. Secy. of business location: The LLC, 666 Fifth 215 East 68th Street, Ste. 18Y, New York, NY SSNY shall mail copy of process to THE LLC State designated as agent of LLC upon 2904 ATLANTIC AVE LLC Articles of Org. Avenue, 8th Fl., NY, NY 10103. DE address 10021. Secretary of State (“SSNY”) has been C/O Nyre Associates, 58 East 79th. St., 5th whom process against it may be served. filed NY Sec. of State (SSNY) 12/18/06. of LLC: Corporation Service Company, 2711 designated as agent of the LLC upon whom Flr., NY, NY 10021. Juris. Off 508 Main Street, Secy. of State shall mail process to: Roberto Office in NY Co. SSNY desig. agent of LLC Centerville Road, Ste. 400, Wilmington, DE process against it may be served. SSNY shall Wilmington, DE 19804. Copy of the art. filed Santibanez, 45 W. 60th St., Apt. 35G, NY, NY upon whom process may be served. SSNY 19808. Cert. of Form. filed with DE Secy. of mail a copy of any such process served to: with DE Secretary of State, Townsend Build., 10023, principal business address of the shall mail copy of process to PO Box 20700, State, Townsend Bldg., Dover, DE 19901. The LLC, 215 East 68th Street, Ste. 18Y, Federal Street Dover, DE 19901. Purpose: Any LLC. Purpose: any lawful activity. NY, NY 10009. Purpose: Any lawful purpose. Purpose: any lawful activity. New York, NY 10021. Purpose: any lawful act. lawful act or activity.

34 | Crain’s New York Business | May 28, 2007 CNYB 05-28-07 A 35 5/24/2007 2:41 PM Page 1

BUSINESS CORPORATE LADDER Local division chief aims to boost Sovereign’s market share PAGE 37 buck ennis

GOTHAM GIGS Rat patrol GIFTY AKOMEA, 29, is a senior health inspector for the New York City Department of Health and Mental Hygiene, which has been in the news a lot in recent months after its crackdown on unsanitary conditions at restaurants. She joined the agency eight years ago straight out of college and was recently promoted. In her new post, which pays more than $50,000 a year, Ms. Akomea does as many as four un- SHARKS PLAYERS announced inspections a day travel to Staten and meets with restaurateurs Island and the Bronx to practice, who are seeking advice about sometimes with compliance. their children in tow. BAD PRESS Ms. Akomea says the publicity brought on by the videotaped vermin at a Manhattan KFC/Taco Bell in February has made her job more stressful. “Unfortunately, some people see us as ticket writers,” she says. ICK! Ms. Akomea once inspected a kitchen that had a broken pipe oozing raw sewage. “They were cooking and working around it,” she said. Needless to say, she shut the restaurant down. EATER, BEWARE Despite her work, Ms. Akomea says she enjoys eating out. “But my job makes me more aware and gives me a keen eye when I go into an establishment.” —lisa fickenscher buck ennis

EXPERT OPINIONS BY LISA FICKENSCHER WHAT’S BEST he new york sharks women’s football team was IN ALLERGY REMEDIES? Tackling hurting. Nine of its starting players were injured in a lot of products, like the their first two brutal games of the season. So their new eye drops Pataday, are recent practice on a chilly evening in Staten Island now available as daily was crucial in order for them to win their next game. treatments. Prescription a man’s The team was working on a tackling drill when antihistamines like Allegra, Zyrtec and Clarinex are also Lisa McNerney, a linebacker, suddenly rushed off the very good. Over-the-counter field. She grabbed the tiny hand of her 5-year-old products like Claritin may not game daughter, Meghan, who was waiting on the sidelines be as effective. A and had to use a toilet—badly. longer-term option The comical image of a fully suited football player trotting off for mommy is weekly allergy Women find camaraderie, shots, which are Tduty wasn’t lost on her teammates, who chuckled at the scene. It also sums wonderfully competition on the field up the juggling act these women perform to play See TACKLING on Page 36 effective but require a time commitment. STATS dr. beth corn NUMBER NUMBER NUMBER Chief of Allergy Asthma Clinic, WOMEN’S OF NATIONAL OF OF NATIONAL Mount Sinai School of FOOTBALL TEAMS PLAYERS LEAGUES Medicine Source: New York Sharks 80 2,500 Three

May 28, 2007 | Crain’s New York Business | 35 CNYB 05-28-07 A 36 5/24/2007 2:46 PM Page 1

BUSINESS LIVES

FISH FOOD Tack ling man’s game UPCOMING SHARKS home games at Aviator Sports Continued from Page 35 “I’m recovering from practice and Complex in Brooklyn. a sport that they’ve loved since my games. I feel like I need to pull childhood. my weight more.” June 2 versus New England Ms. McNerney is one of about Not that her father isn’t support- 2,500 women who play football for ive of her athletic endeavors.In fact, June 9 versus Miami 80 teams across the country. These when Ms. Blum was 9 years old, he June 23 versus Southern Maine players not only have full-time jobs sued the town of Oakland, N.J., to as teachers, lawyers, cops, trainers allow his daughter to play on a boys and small business owners, but also traveling soccer team. The town’s SMALL SACRIFICE: Women who play fork over as much as $950 to join a recreation center was opposed to a football fork over as much as $950 to join team plus another $450 for their girl’s joining the team but lost the a team, plus $450 for equipment. equipment. case.

buck ennis The time and money are small Ms. Blum, a receiver for the sacrifices, they say, compared with Sharks, started playing women’s the rewards. tackle football in her first year of law “We have something that no one school, driving weekends from else can understand,” says Ms. Mc- Springfield, Mass., to Long Island, Nerney.“It’s like a sisterhood.” where she’d found a team. “People say you are born with something,” THANK YOU, Sport catching on she says,“and I can only think that I women’s tackle football has ex- was born to play football.” to our clients isted in some form since the 1970s. Not all Sharks players were seri- Now there are three leagues across ous athletes before joining the 63- and partners. the country,including the Indepen- member team.Leeann Brzozowski, dent Women’s Football League, 26, seems almost embarrassed to which has the Sharks and 31 other teams. Ms. McNerney, 36, grew up playing football with neighborhood boys despite her father’s protests and insistence that she be a cheer- leader instead. Today, she is a high school athletic trainer and com- mutes three days a week from her home in Westwood, N.J., to Staten Island and the Bronx for three-hour practices with the Sharks—some- istockphoto times with Meghan in tow. Her husband, John McNerney,a ‘If you don’t team podiatrist for the New Jersey Nets, reluctantly attends her games want to get hit, WORKING TOGETHER. but lays on guilt about time the Sharks take from their family. “He get out of here; doesn’t like that I play,” she says, “and he worries about me getting in- go home’ jured.” Vivian Alberty, a Sharks full- back, knows only too well the haz- ards of the sport. A New York City narcotics cop, Ms. Alberty,33, left a admit that she only played field GETTING IT DONE. game on May 5 in an ambulance hockey in high school, though she with a shoulder injury. That injury, was always a big football fan. she recalls, was nothing compared with one four years ago when she Model and linebacker was blocking a woman who most people, she concedes, would weighed about 300 pounds. never guess that she’s a wide receiv- “The girl jumped like a sumo er and linebacker for the Sharks, es- wrestler on me,” says Ms. Alberty, pecially those who know about her who is just 5 feet 2 inches and 180 modeling stints on the side. pounds.“I heard my knee pop.It was At 5 feet 7 inches, with exotic the worst pain I’ve ever felt.” De- good looks, Ms. Brzozowski spends spite being sidelined for a season, her days advising customers about her competitive drive wouldn’t let interior design as showroom direc- her quit the Sharks. tor of Clodagh in SoHo.In football, Ms. Alberty, a former diver for she says, “I found a whole new life, the Puerto Rican national team, another family.” competed in the 1996 Olympics be- But it’s hardly a warm and fuzzy fore coming to the United States family all the time.Frustrated by the with her family at age 14. number of veteran players’ injuries Her five colleagues in the nar- and underperforming rookies, cotics unit, all of them men, are big coach Debbie Vance delivered a fans of her football games. “They scorching speech to her team at the trust me a little more in the field,” practice on Staten Island. she says, “because they know I’ll hit The 45-year-old, who is also someone if I have to.” head coach of the boys’ junior varsi- WWW.CWCAPITAL.COM For Jennifer Blum,a 33-year-old ty football team at Herbert H. lawyer,the career benefits of playing Lehman High School in the Bronx, football are not as clear-cut. Ms. had the women line up in the end For more information or to discuss your specific financing needs, contact: Blum worries that she isn’t con- zone before warning them, “If you MICHAEL COTLER | 646.253.8809 | [email protected] tributing enough to the New Jersey don’t want to get hit,get out of here; law firm in which she and her father go home.” | 646.253.8838 | [email protected] MARC YOUNG are partners. “He’s working on the weekends, and I’m not,” she says. COMMENTS? [email protected]

36 | Crain’s New York Business | May 28, 2007 CNYB 05-28-07 A 37 5/24/2007 6:19 PM Page 1

BUSINESS LIVES CORPORATE LADDER Brendan Dugan Sovereign bank builder NY/NJ division chief commercial bank. Mr. Dugan quickly hired many of the EAB PERSONNEL FILE aims to bring in teammates who helped make that bank a leader in the middle market COMPANY Sovereign Bancorp commercial clients, before it was acquired by Citigroup TITLE CEO, metro New York/New in 2001. The team led Indepen- Jersey division boost market share dence to 20% growth in commercial lending over three years. AGE 60 BY TOM FREDRICKSON RÉSUMÉ President, commercial Stepping in banking, Independence or brendan dugan, mr.fishman,who had agreed to stay Community Bank; COO, Citibank there’s no mystery about with Sovereign during its merger Commercial Bank building a commercial with Independence, left in Decem- bank.It’s a matter of get- ber, six months after the deal was fi- INDISPENSABLE GADGETS Pen ting “in the face” of po- nalized. With the New York market and pencil Ftential customers, winning their leaderless, Sovereign finally settled MANAGEMENT STYLE Develop confidence and being there when on Mr. Dugan to run the show. and empower smart people they’re ready to switch banks. “He is low-key but high-torque It’s a formula that Mr. Dugan, and very effective,” says Mr. Fish- who last month was named chief ex- man.“He is very well-organized and ecutive of the metro New York/New works through people. People really Though the lion’s share of Mr. Jersey division of Sovereign Ban- like working for him because he Dugan’s experience is in commercial corp, practiced and preached suc- doesn’t overcomplicate things.” banking, he also understands retail cessfully in New York for 38 years. Sovereign will need his leader- banking—one of his former jobs

His career has included stints at ship skills to build market share.The was chief operating officer of EAB. buck ennis NatWest Bancorp, EAB and Inde- bank has grown through acquisi- pendence Community Bank Corp. tions and has yet to prove it can man- Passion for public service committee at St. Francis College of out in the community. A key part of “I wish I could tell you it was age organic growth.Mr.Dugan’s ex- of course,banking isn’t his only in- Brooklyn, Mr. Dugan helped raise Mr. Dugan’s banking strategy is some kind of rocket science,” says pertise will be critical in the effort to terest. When Mr. Dugan isn’t fish- tens of millions of dollars to expand putting himself in front of influen- Mr.Dugan with a penetrating blue- bring the New York market to the ing for clients,he finds time to catch the college, his alma mater. Ever the tial people. And with current mem- eyed gaze from across his spotless level of its Philadelphia and New trout in the Berkshires.His real pas- schmoozer, he also headed a golf- bership on several boards, including desk. “It isn’t.” England siblings. He will be aided sion, though, is public service, as it outing fund-raiser to help support the finance council of the Roman Mr.Dugan joined Independence by Sovereign’s broad array of servic- was for his sister, Eileen Dugan, a the 90% of St. Francis students who Catholic Diocese of Brooklyn, he when then-CEO Alan Fishman, a es, including investment banking, respected assemblywoman from receive financial aid. clearly moves in rarefied circles. fellow Brooklynite, recruited him in international trade finance and so- Brooklyn who died in 1996. While he believes in public ser- 2003 to help convert the thrift to a phisticated cash management. As head of the development vice, it doesn’t hurt his career to get COMMENTS? [email protected]

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May 28, 2007 | Crain’s New York Business | 37 CNYB 05-28-07 A 38 5/24/2007 2:14 PM Page 1

BUSINESS LIVES

EXECUTIVE MOVES

ACCOUNTING & CONSULTING director and chief global strategist, a named director of media relations. He DOAR Litigation Consulting: Conor R. newly created position. He was formerly was formerly a columnist and reporter at HOT JOBS Crowley, 37, joined as managing director. chief investment officer of alternative the Daily News. He was formerly a senior associate at strategies at Merrill Lynch. Claritas: Matthew O’Grady, 46, was Labaton Sucharow & Rudoff. promoted to president of the Nielsen WANTED: Kroll: Asuncion Hostin, 38, joined as HEALTH CARE Co. division from executive vice managing director. She had been New York-Presbyterian Hospital: Mark E. president of sales and service. DIRECTOR OF INSTITUTIONAL GIVING counsel at Dickstein Shapiro. Larmore, 45, was promoted to senior vice Crain Communications Inc.: Christopher president of finance and assistant Battaglia, 43, was promoted to vice ORGANIZATION Carnegie Hall EDUCATION treasurer from vice president of finance. president and continues as publisher of JOB DESCRIPTION Responsible for managing, executing and reporting Laboratory Institute of Merchandising: Jo- Pensions & Investments. Ann Rolle, 53, joined as vice president for LAW Suzanne Siracuse, 41, was promoted to on fund-raising initiatives and securing capital from foundation prospects academic and student affairs. She was Blank Rome: Marvin B. Mitzner, 60, vice president and continues as publisher MOST IMPORTANT TASK Maintain a personal portfolio of existing and formerly vice president of academic joined as partner. He had been a senior of InvestmentNews. prospective institutional donors affairs at South Carolina State University. member at Cozen O’Connor. MoneyShow.com: Howard Gold, 56, was LaGuardia Community College: Cindy Crowell & Moring: Peter R. Ginsberg, 53, named editor in chief. He had been editor CREDENTIALS NEEDED Proven experience generating corporate spon- Freidmutter, 54, joined as vice president joined as partner. He had been a solo of Barron’s Online, which he founded. sorship and grants for a philanthropic corporation or nonprofit institution for external and community affairs. She practitioner. Nickelodeon/MTVN Kids and Family had been president of the Brooklyn DLA Piper: Jolene M. Overbeck, 53, joined Group: Sarah Kirshbaum Levy, 36, was RECRUITER Phillips Oppenheim Public Library Foundation. as global chief marketing officer, a newly promoted to chief operating officer from UPSIDE Working on special projects that include international and U.S. created position. She had been a partner executive vice president. festivals and the Carnegie Hall Juilliard Project FINANCE & INSURANCE at the Zeughauser Group. Out-of-Home Video Advertising Bureau: BMO Capital Markets: Elizabeth Marin, Nixon Peabody: Harold Ruvoldt,65, Kim Norris, 46, joined as president, a DOWNSIDE Small staff (three people in corporate, two in foundations) 38, joined as managing director. She had joined as partner. He had been a partner newly created position. She was been director, financial institutions, at at Edwards Angell Palmer & Dodge. formerly division vice president at The position is new at Carnegie Hall, which is deciding whether to fill the Wachovia Securities. O’Melveny & Myers: Gerald C. Bender, 48, Comcast Spotlight. post through an internal promotion or an outside hire. Built by Andrew Investment Technology Group Inc.: joined as partner. He had been a partner Spike TV: Chris Martello, 35, was Carnegie in 1890, Carnegie Hall receives funding from individuals, as well Richard A. Herr, 29, joined as senior vice at Stroock & Stroock & Lavan. promoted to vice president, sports and as from corporations, institutions and government agencies. Donors can president of strategic and business Doron Lipshitz, 43, joined as partner. He specials, from executive producer. contribute in a variety of ways—from sponsoring an education program to Sundance Channel: development. He had been a senior vice had been a partner at Stroock & Stroock Christopher Barry, underwriting a concert to naming a seat. —KIRA BINDRIM president at Keefe Bruyette & Woods. & Lavan. 34, was promoted to senior vice Optima Fund Management: Fabio Seyfarth Shaw: Marvin J. Miller Jr., 46, president, digital media and business Savoldelli, 45, joined as managing joined as partner. He had been a partner at strategy, from vice president. Winston & Strawn. Time Inc.: Jeff Sapan, 42, was promoted Weil Gotshal & Manges: Caitlin Halligan, to vice president of integrated marketing EXECUTIVE PROMOTIONS 40, joined as partner. She had been from executive director of integrated was promoted to principal and continues Ibex Construction: Naresh Chopra,54,was The fastest way to get an announcement into solicitor general of New York state. marketing. as vice president of finance. promoted to senior vice president of Crain’s is to submit details online by filling out the Halstead Property: Michaela Gold, 58, purchasing and estimating from vice form at www.NewYorkBusiness.com/submit. MEDIA & ENTERTAINMENT REAL ESTATE joined as vice president. She had been a president of purchasing. Executive Moves is also available online. Associated Press: Paul Colford, 53, was Colliers ABR Inc.: Gary M. Rosenberg, 45, sales associate at Phyliss Koch Real Estate. —adrianne pasquarelli

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38 | Crain’s New York Business | May 28, 2007 CNYB 05-28-07 A 39 5/24/2007 2:17 PM Page 1

BUSINESS LIVES TABLE TALK by Bob Lape “General”Lee’s kitchen takes ter- cake with Ovaltine Atmosphere— rines to new heights with a suave otherwise known as foam.In shades medley of short ribs, foie gras and of Maccioni menus gone by, dessert fava beans, and ramps up artichoke offerings include the filled dough- soup with California snails, guan- nuts called bomboloni and crème ciale,spring onions and parsley pesto. brûlée strudel with huckleberry jus The restaurant’s signature dish is and Muscavado granité. Tuna Wellington,the fish layered in The supremely confident team, DINNER at Picholine, near Lincoln Center. puff pastry with porcini purée and operating with style and excellence, spinach, finished with red wine re- strikes no false notes. Mr. Ferris can duction and foie gras-butter emul- offer a 1900 Château Margaux for exciting new menu and reinvigorat- sion. I’ll happily sign for other fish $12,000 but also has 50 bottles un- ed spirit move Terrance Brennan’s favorites, including crispy black sea der $50 and 250 under $100. temple of modern Mediterranean bass accented by a piperade with Restaurant manager Christopher cuisine to the top of the list. chorizo, garlic aïoli and saffron- Day boasts 50 of the world’s finest mussel broth, and John Dory done teas and pursues more at auction. The Modern with fiddlehead ferns, almonds and Every member of the Gilt ensemble The Museum of Modern Art, 9 W. caper brown butter. cast turns in the highest-quality 53rd St.(between Fifth and Sixth av- Seared foie gras, rhubarb, fava performance. enues), Manhattan. (212) 333-1220. beans,pistachio nuts and black olive Danny Meyer and chef Gabriel jus together sound like a complete COMMENTS? [email protected] Kreuther exhibit world-class, mod- dish but function here as the back- ern French-American cuisine and drop for Long Island Pekin duck. hospitality at the museum’s elegant Beef and lamb dishes abound, BEST OF BOB LAPE new restaurant complex. and I’m crazy about “haus-made” bratwurst. This pork-and-beef Following are other spots that have sausage is marinated in spices, earned four stars. grilled and presented with herbed spaetzle, sautéed Brussels sprouts, Chanterelle beer-cheese sauce and a faux sauer- 2 Harrison St. (at Hudson Street), kraut of crisp-cut julienne of pickled Manhattan. (212) 966-6960.Win- fennel, endive, apple and onion. ner of the 2004 James Beard Foun- Mr. Carmichael’s sweet sendoff dation Award for the outstanding is made with particular whimsy. restaurant in America, David and Rhubarb crumble is dressed with Karen Waltuck’s American beauty is honey mousse and Marion Berry a symphony of splendid food, intel- granité. Chocolate Solar System ligent service, great wines and features pot de crème and dark- soothing ambience. chocolate ganache over devil’s food

buck ennis Blue Hill at Stone Barns GOLDEN BOYS: Chef Christopher Lee (seated) and pastry chef David Carmichael, with (from left) 630 Bedford Road, Pocantico Hills, manager Christopher Day, head waiter Raphael Jovel-Garcia and wine director Jason Ferris. N.Y. (914) 366-9600. Tables at the rustic Rockefeller showcase for so- cially responsible agriculture are hard to get. Owner-chef Dan Bar- ber’s team taps the farm and other local sources for freshest ingredi- Gilt is brilliance ents, then applies gentle genius. Daniel 60 E. 65th St. (between Madison fit for a palace and Park avenues), Manhattan. (212) 288-0033. Chef-owner Daniel Bass in Philadelphia. David Car- Boulud’s flagship maintains its ex- New team instills michael, the gifted pastry chef from cellence in providing many-layered excellence, front Oceana, recently joined him. GILT dining extravaganzas for guests The 51-seat restaurant, with New York Palace Hotel from around the globe. and back; vast tea richly paneled walls, barrel-vaulted 455 Madison Ave. (between 50th ceiling and Hummer-size fireplace, and 51st streets) Del Posto (212) 891-8100 selection unusual homes in on one meal a day: dinner. 85 10th Ave. (between West 15th It is ravishing,especially with a price and West 16th streets), Manhattan. hat glitters at reduced to $78 for three courses. (212) 497-8090. The whole nine Gilt is a passion to And if wine director Jason Ferris is CUISINE Modern American yards. Mario Batali, Lidia and Joe deliver New charged with matching glass-for- WINES 1,450 choices, 50 by the Bastianich, 22,000 square feet of York’s finest din- dish throughout the meal, you’ll glass retro elegance, 1,200 wines, and the ing experience. find his enthusiasm at sharing the nicest salute to the Italian palaces DRESS Jackets are correct ERNEST KLEIN WThe expansive zeal informs not goodies completely contagious. of the 1950s that you will ever only the kitchen, where two new Among options for the first NOISE LEVEL Moderate encounter. Classic food, formal & CO. stars shine brightly, but also Gilt- course is a sensational yellow fin tuna PRICE RANGE Three-course prix service. Awesome. edged service. The result is meticu- tartare, shaped as a ruby-red square fixe menu, $78; chef’s seven- Per Se FINE FOODS lous cosseting of guests and tapping block accompanied by kimchi, rice course tasting menu, $135

of the restaurant’s astounding stocks pearls and shallot-ginger dressing Time Warner Center, 10 Columbus of wine and tea. (emphasis on the ginger). Warm WINE MARKUP 50%-233% Circle, fourth floor, Manhattan.  Same Day Delivery Diners will find superior con- scallion pancakes provide small CREDIT CARDS All major (212) 823-9335.Chef Thomas Keller,  Phone Orders temporary American cuisine— wraps for the luscious tartare once who yo-yos between New York and imaginative and eye-catching with the monolith is invaded by a spoon. RESERVATIONS his famed French Laundry in Napa,  Corporate Accounts its creativity set within a familiar Another symphony of textures, Recommended Calif., shows why he is America’s framework. It comes from the mul- tastes and presentation is the HOURS Dinner, Tues.-Sat., top performer of contemporary  Catered Luncheons timillion-dollar kitchen originally Mediterranean dorade escabèche, 5:30-9:45 p.m. French creativity. Posh setting, 760 Located at: designed for Le Cirque 2000. served with baby artichokes, toma- wines. The new commander is chef to preserve, black olives and feta = Outstanding Sixth Ave. and 55th St. = Excellent Picholine Christopher Lee,a New Yorker who cheese. Delicate Alaskan spotted = Very good 212.245.7720 worked with Daniel Boulud and prawns are paired with ham-potato = Good 35 W. 64th St. (between Broadway Jean-Georges Vongerichten before hash,piquillo peppers and a smoked and Central Park West),Manhattan. A FULL SERVICE SUPERMARKET a stint at the highly regarded Striped cod sauce. (212) 724-8585. An elegant redesign,

May 28, 2007 | Crain’s New York Business | 39 Project3 4/30/07 11:06 AM Page 1