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INSIDE A CALL FOR TOP STORIES ‘BACK TO Oil heiress saves BASICS’ Big Apple Greeter UNIONISM Michael Goodwin from untimely end ® President, OPEIU PAGE 2 PAGE 11 Legal eagles flee big law firm coops VOL. XXVI, NO. 33 WWW.CRAINSNEWYORK.COM AUGUST 16-22, 2010 PRICE: $3.00 PAGE 2 Nervous retailers begging for PUBLISHING a jegging craze PAGE 3 Art-full attempt SPINE- to lift downtown is foundering PAGE 3 TINGLER After 9-year race, a winner crosses e-books’ surge devours Aqueduct finish line industry’s ecosystem THE INSIDER, PAGE 8

BY MATTHEW FLAMM

in her new role heading an e-book startup, Jane Fried- man still has the corner office. But it’s nothing like the one she had during her decade as chief executive of HarperCollins Publishers Worldwide. In place of orchids and sleek modern furni- ture, there are bare walls and an unpainted ce- ment floor in a prewar building on Varick Street. Family photos are stuck to a bulletin board.And the conference table and chairs where Ms. Friedman sits for an interview could have been quickhoney lifted from an American Legion hall. Two years after losing her old job following BUSINESS LIVES a dustup with her boss Rupert Murdoch, the 64-year-old Ms.Friedman has reinvented herself as co- GOTHAM GIGS founder of Open Road Integrated Media. She launched the digi- Carousel operator tal-only publishing and marketing venture last October in response to enjoys the ride P. 21 the revolutionary changes taking place across the book industry. See CATAPULTING on Page 20 G ANNE FISHER on how small firms can get fast cash for invoices P. 21 G MOVERS & SHAKERS Caroline Hirsch packs A hotly P. 22 Upstart roils Stuy Town battle a punch line G GAEL GREENE explores contested Coney Island clams P. 23 little as $45 million in a foreclosure that his hedge fund, Pershing Fledgling duo may auction. Incredible as such a sce- Square Capital Management, had get complex for as nario may seem, real estate experts been tapped by Winthrop Realty AG race— say that it—or something like it— Trust,one of Stuy Town’s creditors, INDEX little as $45 million could well come to pass. to help it take control of the 80- “I don’t know if Ackman will acre complex. Acting in concert, who knew? IN THE MARKETS ______4 in foreclosure wrest control, but he has unleashed the duo quietly paid $45 million— NEW YORK, NEW YORK ______6 the genie,” says Mark Edelstein, 15 cents on the dollar—to scoop up Five candidates vie NEIGHBORHOOD JOURNAL BY AMANDA FUNG ______7 chair of real estate finance and dis- a $300 million mezzanine loan, a to be noticed by SMALL BUSINESS ______9 tressed real estate practices at law key slice of the complex’s debt that if all goes according to plan, firm Morrison Foerster. “It will stands between the owner’s equity REAL ESTATE DEALS ______9 Democratic voters next Thursday a new partnership likely set off another wave of legal and the first mortgage. NY AREA’S TOP AIRLINES ______14 led by hedge fund honcho William skirmishes and encourage potential Mr. Ackman also scheduled an CLASSIFIEDS ______16 Ackman will buy Manhattan’s buyers to come out of the wood- auction for Aug. 25, when he plans BY ERIK ENGQUIST EXECUTIVE MOVES ______21 largest housing complex—the work.” to foreclose on the property and

THE WEEK AHEAD ______23 110-building Stuyvesant Town/ In a surprising development, take control of Stuy Town. If he when quinnipiac pollsters asked Peter Cooper Village—paying as Mr. Ackman announced last week See UPSTART on Page 19 Democratic voters across the state if they had chosen an attorney gen- eral candidate,81% said no and 9% 33

5 said yes—and named someone not EYE OF THE BEHOLDER in the race. Only 3% named one of The expansion of a wastewater treatment plant in the five candidates who are actual- Greenpoint turns a potential eyesore into an icon. ly running. To say the contest is flying un- Hollywood takes notice. PAGES 12-13 der the public’s radar would be an NEWSPAPER See VYING on Page 19 71486 01068 0 20100816-NEWS--0002,0003-NAT-CCI-CN_-- 8/13/2010 8:06 PM Page 1

The campaign netted nearly IN BRIEF $100,000, including $35,000 from the Nonprofit greeted city and many smaller donations from in- THE UNITED NATIONS ASSOCIATION OF THE dividuals giving as little as $5 to $2,500. UNITED STATES OF AMERICA, WHOSE MISSION But that wasn’t enough to keep Big Apple is to foster American support for the U.N., has Greeter afloat. run out of money. Last week, the association’s by Getty surprise Enter Ms. Getty,one of five children of 40-member board of directors voted J. Paul Getty Jr. She runs Fuserna Founda- unanimously to end its existence as an tion, which, according to its website, sup- independent organization and to form a ports charities that have financial con- strategic alliance with the United Nations Donation keeps Big Apple Greeter alive straints and lack exposure—an eclectic Foundation, launched a dozen years ago with a group including the Sierra Leone War $1 billion pledge from Ted Turner. UNA-USA ed this money,” says Lynn Brooks, founder Trust for Children and the Santa Monica plans to retain its nonprofit status, but it will be BY LISA FICKENSCHER of Big Apple Greeter,adding that her board Mountains & Seashore Foundation. folded into the foundation. It will align itself of directors had instructed her to start shut- Ms. Getty could not be reached for with the foundation’s sister organization, the dire pleas for donations from worthy ting down operations by September. comment. Better World Campaign, whose mission is also organizations are so common these days, The 18-year-old organization offers to strengthen U.S.-U.N. ties. Ed Elmendorf, they sound like background noise. So it’s unique tours of the city, taking visitors on More funds needed the association’s president and chief executive, remarkable when one succeeds in attract- hours-long trips to neighborhoods off the others clearly share Ms. Getty’s ad- says a new incarnation of UNA-USA would ing a large donor. beaten path. But when corporate donors miration for Big Apple Greeter. A Cana- make use of the U.N. Foundation’s fundraising That’s exactly what happened to Big scaled back last year,Big Apple Greeter hit dian couple, Frank and Margy Slater, who muscle and brand name. Meanwhile, the Apple Greeter, the tiny nonprofit that a wall and had to cut its operating costs to visited the city in July and toured the association can offer the foundation its 12,000 matches tourists with volunteer guides. It the bone. In June, the group launched a Brooklyn Bridge and lower Manhattan members and various chapters that dot the was on the brink of extinction when a Save Big Apple Greeter campaign,appeal- with two volunteers, gave $50 and say they country. wealthy Californian picked up the phone ing to its 300 volunteers, past and future will give the organization a second dona- to offer help after watching a TV news seg- visitors, and corporate sponsors to help. tion next year if it’s needed. TOURISTS CAN’T GET ENOUGH OF THE BIG ment about the group’s financial woes (first But it will take another large gift like APPLE. PRELIMINARY DATA SHOW THAT 23.5 reported in Crain’s on June 21). Ms.Getty’s to save Big Apple Greeter once million visitors came to New York in the first GIFT KEEPS GIVING: A and for all. With corporate supporters still Getty gives $200,000 donation half of this year, an 8.7% increase over the same from Ariadne Getty struggling, reaching the group’s period last year.The city’s tourism bureau, oil heiress Ariadne Getty recently enabled Lynn $600,000 annual budget is no NYC & Co., forecasts that New York will host wired the nonprofit a check for Brooks (right) slam dunk. approximately 47.5 million visitors, 4.2% more $200,000, buying the group another and Alicia “Without a new infusion of than last year, by the end of 2010. It also six months in which to raise more Pierro to keep cash,” says Executive Direc- predicts that the city will reach Mayor Michael funds. Big Apple tor Alicia Pierro, “we won’t Greeter
Bloomberg’s goal of attracting 50 million “We really,really need- running. be around next year.” visitors by 2012. Signs of strength in the hospitality sector include high hotel-occupancy rates, increasing airport and rail traffic, higher employment, and rising theater attendance. According to the city, the average hotel- occupancy rate increased 7% from January through June compared with the same period last year, which translates to an additional 1 million hotel-room nights being sold over the same period.

BY THE NUMBERS

Weekly shift of the city’s economy

ACROSS THE BOARD, the news on productivity,   jobless benefits claims, exports and the Federal Reserve’s economic outlook was downright bad. And stock markets took note. buck ennis 7.6% 3x 108M RISE in price of INCREASE in WEB TRAFFIC to Manhattan JetBlue’s Web news sites in July, condos in 2Q, vs. hits last week down 4.8% from a year earlier after flight a year earlier Sources: Prudential attendant’s Source: Nielsen Douglas Elliman, sudden exit Miller Samuel Inc. Partners flee big law firms Source: NetProspex

STOCK SHOCK The Bloomberg/Crain’s NY Stock Index of the Gioconda Law Group, an intellectual Mr. Gioconda. His four-attorney firm area companies’ share prices had its worst week in At their own startups, property boutique that specializes in pro- generates about a third of its revenues from months, falling 4.7%. It’s now down 5.6% for the year. they can offer lower, tecting corporate brands and trademarks. billable hours, at rates ranging from $450 The 13-year legal veteran says being able to $550 per hour, another third from pure more flexible fees; to negotiate his own rates was flat-fee agreements—where a clients come calling a big part of his decision. project is given a set price re- The recession has corporate gardless of hours worked—and clients looking more closely at 15 the final third on a contingency BY HILARY POTKEWITZ their legal bills. While a high- LAWYERS basis, where the bulk of the pay- priced partner can be invalu- voluntarily left ment is contingent upon win- a lawyer’s hourly billing rate used to be able for complex matters, most ning. a badge of pride—the higher the number, of the daily work at big firms is Skadden Arps “Clients are more interested the more valuable (and supposedly bril- done by associates only a few recently to launch in certainty and predictability liant) the lawyer. years out of law school. BuckleySandler when it comes to rates,” echoes vol. xxvi, no. 33, august 16, 2010—Crain’s New York Business (issn But over the past 18 months, a strange Joshua Stein, who spent more 8756-789x) is published weekly, except for combined issues June phenomenon has been sweeping the legal Flexibility to negotiate than two decades at Latham & 28/July 5, Aug. 30/Sept. 6, and Dec. 20/Dec. 27, by Crain Com- munications Inc., 711 Third Ave., New York, NY 10017. Periodicals arena: Partners at major law firms are quit- so corporate general counsels have Watkins before leaving last month to start postage paid at New York, N.Y., and additional mailing offices. ting because they want to be able to charge begun sending the routine work to much his own real estate law firm. Postmaster: Send address changes to: Crain’s New York Business, less for their services. cheaper law firms, reserving the high- Without exception,partners talk about Circulation Department, 1155 Gratiot Avenue, Detroit, MI 48207-2912. for subscriber service: Call (888) 909-9111.Fax “Clients no longer feel their day-to-day priced howitzers for emergencies. longing for the flexibility to negotiate di- (313) 446-6777.$3.00 a copy, $59.79 one year, $109.79 two years. needs justify paying the $800- or $900- “Big firms were getting less and less of rectly with their clients, without having to (GST No. 13676-0444-RT) ©Entire contents copyright 2010 by Crain Communications Inc. per-hour rates of a partner at a large firm,” the juicy work, but you’d open the paper go through layers of management to seek All rights reserved. says Joseph Gioconda, who left a partner- and there would be tons of anti-pirating approval. Especially when doing the pre- ship at DLA Piper last December to found and trademark cases being filed,” recalls dictable day-to-day legal tasks, says

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Culture wilting at WTC Scaled-back plans, groups’ struggles hurt revitalization push

BY MIRIAM KREININ SOUCCAR PLAID AND JEGGINGS: Some teen-targeted the national September 11 retailers are already Memorial is on track to open next cutting prices on year on the 10th anniversary of the back-to-school items. attacks,and the companion museum one year later. But many of the other heralded plans to create a cultural mecca in lower Manhattan in the wake of the tragedy are foundering. The city’s original plan to have Begging for jeggings four arts groups move into two glitzy new buildings as the center of a re- developed Ground Zero has been scaled back, and some fear that con- Price wars erupt most-crucial selling period—opti- specialty teen retailers are layering which offer low prices. Pittsburgh- struction will never start at all.In ad- mistic. Companies including discount upon discount,and they’re based American Eagle has already dition, other cultural organizations among teen stores Aéropostale Inc., Abercrombie & much deeper, and earlier, than usu- reported flat same-store sales—a that the city helped lure downtown Co.and American Eagle Outfitters al. The result is a price war among key measure of a retailer’s health are struggling to stay afloat. for critical back-to- Inc. have all stocked up on key the main teen shops, which are try- that compares revenue at stores Just two weeks ago,the cultural vi- school season trends like jeggings and plaid shirts. ing to distinguish themselves from open at least one year—for July. sion for the area suffered another set- Inventories in the teen sector are up one another on dollars alone. Experts worry about what un- back. The Drawing Center, which between 12% and 15%, experts es- planned markdowns will do to the was once slated to occupy a Ground BY ADRIANNE PASQUARELLI timate, after cutbacks of as much as Unplanned markdowns bottom lines of a fragile industry. Zero site, announced that after years 20% in merchandise orders in abercrombie & fitch, one of the “More discounting means less meet the jegging.A stretchy leg- 2009. most expensive retailers in its sec- profits: It’s as clear and simple as it ging designed to look like denim But sales so far have been disap- tor, began offering 40% off all den- sounds,”says Alan Sellitti,partner in ‘There’s no plan jeans, the product has become a pointingly lackluster, thanks to the im,including jeggings,in early Au- the retail and consumer-product must-have among fashion-fren- recession and the oppressive weath- gust.Such markdowns steal market practice of BDO Seidman. “Aber- to attract zied teenagers, leading many ap- er, forcing many shops to begin share from rivals, which have to crombie never marks down denims parel retailers to bank on it this marking down merchandise despite promote their own discounts to and they’re marking it down—it’s a arts groups back-to-school season. The only the fact that it is only mid-August. keep up. Aéropostale is traditional- sign of the times, people are nerv- problem is, stores may have or- “It’s not very pretty right now,” ly lower-priced and promotion- ous.” downtown now’ dered too many. says Eric Beder, a retail analyst at driven, but American Eagle, which July same-store sales rose on av- Inspired by a better-than-ex- Brean Murray Carret & Co. falls in the middle-price ground, erage a modest 2.9%, less than the pected holiday season last year, “There’s too much supply and the may lose out. It’s also getting 3.2% gain in June, according to many teen retailers entered the demand is anemic.” squeezed by fast-fashion chains consulting firm Kantar Retail. In summer—known as the second- To convince shoppers to spend, such as H&M and Forever 21, See BEGGING on Page 19 of looking for space in lower Man- hattan,it has given up;it will now stay in its longtime SoHo neighborhood. Similarly, The Joyce Theater, a prestigious dance presenter that was supposed to move into a much- hyped performing arts center at to be masters of their domain Ground Zero, has been forced to search for alternative space because of uncertainty over when, or if, the Thomas McGonigle, who recently left a partner at Patterson Belknap Webb & Tyler. start his own firm, Desmarais. downtown building will open. LeClairRyan to help start Murphy & McGo- “Surveys are showing that many of the leading
Six partners from LeClairRyan’s Securities nigle. He now works with some clients on a re- firms are experimenting.” and Exchange Commission enforcement group Hit by recession tainer basis, for a flat fee. “It’s like a cell phone Their clients are well beyond the experimen- bolted, taking 10 lawyers with them, to form meanwhile,two arts organizations plan,”he explains.“Sometimes you go over your tal phase, however. specialty boutique Murphy & McGonigle this that had worked to help revitalize minutes, sometimes you go under, as long as at More than half of 231 corporations polled summer. lower Manhattan after the terrorist the end of the year both parties agree that the last fall by legal consultancy Hildebrandt In-
The chair and vice chair of Sonnenschein attacks—Dance New Amsterdam fee is fair.” ternational—many of them Fortune 500 com- Nath & Rosenthal’s Internet practice, Marc and the theater and multimedia panies—reported negotiating with outside Zwillinger and Christian Genetski, left the group 3-Legged Dog/3LD Art & Lip service counsel on non-hourly billing arrangements; firm in February to form boutique Zwillinger Technology Center—have been hit traditional law firm billing rates have nearly two-thirds of the companies said they Genetski. hard by the recession. Both are bat- been carefully calibrated to support the huge were implementing a rate freeze on outside
Andrew Sandler, former head of the con- tling eviction. overhead that comes with prestige: the fancy legal fees. sumer financial services practice at Skadden In the face of these setbacks, midtown lobby, the dozens of regional offices, This mismatch seems to be sparking the ex- Arps Slate Meagher & Flom, left last spring some local officials are concerned. the army of associates and staffers,the debt from odus of partners to boutiques. Consider some with 14 colleagues to form BuckleySandler. “There is no comprehensive plan previous mergers and acquisitions. recent actions: The list goes on. Nearly all the boutiques to attract arts groups downtown Managing partners may pay lip service to
White-collar defense partner Daniel Hor- boast fees about a third lower than the old now, and there has never been any creative fee arrangements, especially during re- witz, who was co-counsel last year for fraudster firms’ rates. real leadership in terms of putting cessions,but until recently alternative billing re- Bernard Madoff and defended David Letter- “With some of the big firms, it’s harder to be arts at the forefront,” says Julie mained mostly just talk. man against an extortion attempt by a CBS pro- creative in billing with clients,” says Mr. Menin, chairwoman of Communi- “It’s more discussion than actual activity, but ducer, left Dickstein Shapiro in June to join the Younger. “And with today’s technology, you ty Board 1, which encompasses the the discussion is much more serious than it has 11-lawyer firm Lankler & Carragher. don’t have to be in a big firm environment to area. “We lost a major opportunity been in the past,” says Stephen Younger, presi-
Patent attorney John Desmarais,a top partner have the manpower to drive a big case. A small- to really revitalize the neighborhood dent of the New York State Bar Association and at Kirkland & Ellis for 15 years, left in June to er boutique can compete.”  See CULTURE on Page 19

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Gracious Home buys itself time with Chapter 11 filing IN THE MARKETS by Aaron Elstein

portant to note that they do have an from the prior year. The retailer has Sector hit hard; investor lined up.” also endured layoffs and now em- HomeGoods’ NYC Gracious Home has more than ploys close to 400 people, a far cry 1,000 creditors,including East 58th from the figure of 525 that Gracious entry also looms Street-based Fraydun Realty Co.,to Home provided to Crain’s two year Dahlman Rose blooms on Wall St. which the retailer owes $143,000 in ago. rent, and Rockrose Development leak is the best BY ADRIANNE PASQUARELLI Corp., to which it owes more than Chelsea spells doom word to describe $133,000. a large part of the company’s Wall Street these after two years of turmoil and “We intend to emerge from these problems can be traced to the No- B days.The stock market is slipping sales, longtime Manhattan proceedings with a significantly im- vember 2008 opening of its third re- retail fixture Gracious Home has proved balance sheet,” Jordan tail outpost, a 24,000-square-foot going nowhere, and one bought itself some extra breathing Smilowitz, president of Gracious Chelsea facility. The timing for the consulting firm predicted room. The family-owned home- new spot—which positioned the re- last week that bonuses goods retailer, which operates three The store, tailer steps away from large-scale ri- for traders could—sacré stores here, filed for prearranged vals including Bed Bath & Beyond bleu!—decline by 15%. Chapter 11 bankruptcy protection founded by a and The Home Depot—could not BEATING THE ODDS: late last week under the corporate have been worse, coming just as the Barclays and Credit Simon Rose is is enjoying name of The Weck Corp.The filing bottom fell out of the economy and Suisse announced his firm’s winning streak.

Cuban immigrant, buck ennis cited assets between $1 million and stores everywhere were facing a layoffs, while U.S. Labor $50 million and liabilities of the opened in 1963 pullback from shoppers. same amount. The home-goods industry, in Department data show that securities firms have sacked 3,700 As part of its reorganization, particular, has been hard-hit, and it New Yorkers so far this year. Gracious Home will work with a is still bleeding. Total U.S. sales of new investor, GH Acquisition, an housewares products dropped 6% in So let’s switch gears and look at a Credit Suisse, Lazard and other affiliate of Meridian Ventures, to re- the 12 months ended in June com- Wall Street firm that’s growing. Di- places for more than 20 years,as well structure;NewAlliance Commercial Home, said in a statement, noting pared with the previous year, ac- amonds in the rough are tough to as research analysts and dealmakers Finance will provide financing, as that it is “business as usual.” cording to retail tracking service find, but there’s an encouraging sto- in such sectors as aviation, oil-field well.The company has also retained The home-goods store—which NPD Group Inc. ry at Dahlman Rose & Co. services and mining. Triton Equity Partners, a financial opened in 1963 after founder Natan In addition,after it emerges from Founded in 2004 to focus on the The firm has also recently signed advisory firm focused on retail. Wekselbaum arrived here from bankruptcy,the decades-old retailer shipping business, the firm has since a lease for an additional 65,000 Cuba—has had its share of ups and will face new competition. Home- grown to 150 employees who special- square feet of midtown office space “Business as usual” downs, but this time the recession Goods, the discount designer ize in most modes of freight and com- to house its growing staff. Because “the company will be issuing a has taken its toll. The 75-year-old housewares chain owned by Fram- modities. Within this niche, it has Dahlman Rose is so small—its $160 plan of reorganization in a few Mr. Wekselbaum, who is chairman ingham,Mass.-based TJX Cos.,will grown into a major player, working million in capital is equivalent to 2% days,” says Bob Pressman, chief ex- of the company,recently told Crain’s be opening its first Manhattan loca- alongside giants like Goldman Sachs, of Goldman’s—it’s been able to ecutive of Triton, who could not say that Gracious Home has revenue tion on the Upper West Side in the J.P. Morgan and Morgan Stanley to steer clear of the raft of banking reg- if any stores will be closed. “It’s im- near $60 million, down about 13% beginning of 2011.
help companies such as oil shipper ulations coming out of Washington. General Maritime Corp. raise $200 Mr. Rose acknowledges that few million earlier this year and to take may share his optimism at the mo- Metals USA Holdings Corp. public ment, but, like any good salesman, in a $240 million offering. he has a pep talk ready explaining Chief Executive Simon Rose,an why it’s time for folks to get over Upper West Side native who started their gloom. out in the early 1990s working for $5 “We’re on a journey,”he says of the an hour at Shearson Lehman,is now economy.“If you set out to drive from pushing down on the throttle. Last New York to L.A., you’ll have stop week, he announced that his firm signs, a flat tire, you’ll have to stop for had raised $40 million by selling a gas and go to the bathroom,but if you stake to private equity firm Lovell keep driving, you’ll get there.” Minnick Partners.Names he’s hired “People are too focused on the pit in the past couple of months include stops right now,” concludes Mr. Kim Fennebresque, a senior banker at Rose. Pension fund fills up on BP while the massive oil spill in troller’s Office, confirms that the the Gulf of Mexico caused investors fund bought the stock after the spill. to dump shares in BP, the New York It isn’t clear exactly what price it State pension plan took the oppor- paid for the shares.But the tunity to stock up. regulatory filing does The New York State Common show that the value of the Retirement Fund, which man- pension fund’s holding in ages about $130 billion, the British oil giant was increased its stake in BP to halved to $5.8 million—no 202,296 shares as of June surprise given the pound- 30, according to a regula- ing the stock suffered amid tory filing issued last week. all of the bad publicity and That represents a 9,570- massive costs the company share, or 3.2%, bump in its has incurred to clean up its mess. holdings compared with the period The additional investment in BP ending March 30.The nightmarish may not be popular,but it appears to BP spill began on April 20, and a be well-timed. Since bottoming out spokesman for the pension fund’s in late June, the shares have rallied, trustee, the New York State Comp- rising 44%.

THE NUMBER OF BANKS, brokerage houses, law firms and accounting firms involved in the $22.1 billion initial public offering for 22 Agricultural Bank of China Ltd., the largest IPO ever.

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NEW YORK,NEW YORK edited by Valerie Block

Resurrection for Gen Art ilm and fashion production company Gen Art is coming back from the dead. Just three months after going bust, the 16-year-old Fnonprofit is being courted by several potential investment partners. “We’ve had conversations with different types of companies about a revived business model,” says Gen Art co-founder and Chief Executive Ian Gerard. Interest has emerged from IMG, United Entertainment Group, Hachette Publications,Thrillist and Gilt Groupe, to name a few. As a partner, the investor would have to pony up somewhere between $250,000 and $500,000 to purchase Gen Art’s assets out of the Chapter 7 bankruptcy protection the firm entered in June, one month after shutting its doors. The new and improved Gen Art would be much different from the prior incarnation, known for championing celebrities like Zac Posen and Adrian Grenier (right) early in their careers. Even so, it would still uphold its original mission of showcasing emerging talent. “We’d take the core events [like Fresh Faces in Fashion and the Gen Art Film Festival], but build much bigger extensions around them, like a larger digital platform, Webisodes and reality TV,” Mr. Gerard says. getty images Good omen along with Fashion Week on Sept. Club and Garden restaurant. 9 and continues through the The chef has also designed a for Fortune February shows of 2012. room-service menu that offers “We’re helping the brands reach about 75% of the dishes served at fortune magazine’s decision last an audience,” says Ideeli Chief Maialino. “It’s the first time I’ve fall to cut the title’s frequency to 18 Executive Paul Hurley, who founded ever worked in a hotel,” says Mr. issues a year from 25 is apparently the company three years ago. Anderer. “I thought, ‘Why not paying off. Ad pages through the Ideeli sells more than 600 brands offer the same items?’ instead of Aug. 16 issue fell just in its flash sales, including saying, ‘Oh, no, you can’t have this 1%, to 880, says Betsey Johnson, Prabal in your room.’ ” Media Industry Gurung and other Fashion Newsletter, though Week stalwarts. As part of Fortune published the sponsorship, Ideeli— Brokerage dabbles five fewer issues which has 3 million in galleries than it did a year members and revenues of ago. $150 million—will feature a a residential brokerage in Long The business Fashion Week-themed Island City, Queens, has taken the title is currently online shop. neighborhood’s artists under its averaging 80 ad wing. Modern Spaces, a two-year- pages per issue, versus Expansive old firm that is opening a second 55 a year ago, for a per-issue spike office at Ten 63 on Jackson of 45%. Meanwhile, with reduced chef’s Gramercy Avenue next week, will launch a frequency—which means lower pop-up gallery in the vacant retail costs for production and empire space next door. postage—and major staff the gramercy park hotel may The gallery—a joint venture reductions, Fortune is saving a have skipped some mortgage with art collaborative We-Are- boatload of cash. payments, but it’s not skimping on Familia—will feature 21 artists What’s more, newsstand food for its customers. Danny and run from Aug. 27 through sales—helped by having the title Meyer’s Maialino, which opened at Sept. 5. Landlords of all stripes are on the stands for longer periods— the hotel eight months ago, has hosting such events to make their rose 33% in the first half of this taken over all three of the properties more attractive. year, according to the Audit property’s kitchens—and the “If it works and the landlord Bureau of Circulations.Total restaurant is even growing feels like it’s bringing life to the average circulation was flat, at produce in a rooftop garden. building, we will do it again,” says 857,000 copies. Some 50 types of veggies, fruit Eric Benaim, president of Modern “It’s been a huge win for us,” and herbs are being cultivated on Spaces. says Group Publisher Jed Hartman. the 18th floor, including snap In his first office, at 47-34 peas, wax beans, eggplants and Vernon Blvd., the art lover and strawberries. collector has for two years Ideeli steps up Since the hosted exhibitions and to Fashion Week popular Italian openings for local artists, eatery hit its who use his entry as free a new name will grace the tents stride, executive gallery space. Earlier this next month when Mercedes-Benz chef Nicholas summer, a party for fine Fashion Week moves to its new Anderer (right) has artist Tom Matt netted home at Lincoln Center. No, it’s quietly assumed around $4,000 in sales— not a hot, young designer: control of the commission-free. Members-only shopping site menus at the Ideeli has been named as a swanky Rose Bar Contributors: Lisa Fickenscher, sponsor. and Jade Bar off Matthew Flamm, The two-year agreement for of the lobby, as Adrianne Pasquarelli,

the SoHo-based company starts well as the Roof ellen silverman Miriam Kreinin Souccar

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NEIGHBORHOOD JOURNAL Queens mall is getting re-stored

center featured pristine white- for those types of stores there.” to customers. But to no Shops at Atlas Park, washed stucco buildings,lush lawns, As time went on, instead of fill- avail. In the end, the far too upscale for gurgling fountains,stately magnolia ing up,vacancy rates began rising.In Hemmerdingers lost the trees and a handsome outdoor response, foot traffic, which had property, which had workaday Glendale, promenade. never been good, got worse. been in the family since In retrospect, it was simply all a Adding insult to injury, the 1 its days as a farm in the will start over again bit much. million-square-foot Queens Center 19th century. “If you put it in Boca Raton, Mall just over two miles away has Mr. Hemmerdinger BY JAMES COMTOIS you’d have a beautiful mall,” says the managed to thrive throughout the relinquished ownership new court-appointed receiver for of the center in February READY FOR BETTER DAYS: The retail center features early 18 months after the property, Paul Millus, a lawyer 2009 after defaulting on whitewashed stucco buildings, lush lawns and fountains. lenders seized The with Snitow Kanfer Holtzer & Mil- The 25-acre a loan payment on the Shops at Atlas Park lus.“But you’re in Glendale,and that project.While the banks when its developer de- set it back significantly.” development began work on foreclosure proceed- hang on,because I think the future is faulted on a $128 mil- initially seemed ings, the site was then handed over going to be very bright,” says Mr. Nlion loan, a new life for the Queens An outstanding mix to Mr. Millus, who in turn appoint- Millus.“We’re trying to get many big mall is close at hand. Foreclosure it wasn’t just the look of the ed real estate services giant CB national tenants,but it’s tough,since proceedings are expected to be com- place that made it stand out in its like an upscale Richard Ellis the property manager. they need more foot traffic.” pleted in the next two months, workaday neighborhood. It was Mr.Giordano says he thinks that clearing the way for lenders— also the mix of tenants, which in- retailer’s dream Tenant retention something “entertainment-orient- French banks Société Générale and cluded an eight-screen Regal movie keeping hold of the remaining ed” would do well and suggests an Calyon—to sell off the property and theater and stores such as Jos. A. tenants is a top priority for CBRE. arcade chain or bowling alley. He bring in new owners and ideas. Bank, Florsheim and J. Jill, as well The center still boasts some money- also suggests bringing in “clothing For residents in the surrounding as the Amish Market gourmet food making tenants, including several outlets to appeal to the younger peo- neighborhood of Glendale, it’s been store. recession. Just last month, its man- restaurants—Chili’s, Shiro’s Japan- ple already attending the movies,” a disappointing four years. Opened “Some of the thought process agers announced that they had ese, Johnny Rockets and others—a and reaching out to area residents with great fanfare on the former site was that these would be high-end signed up five new retail outlets and Borders bookstore and the Regal for their tenant ideas. of the Atlas Industrial Park—one of stores,”says Gary Giordano,district two restaurants. movie theatre. “We’ve weathered the storm,” the largest manufacturing centers in manager for Queens Community At one point last year, Atlas But Atlas Park has also lost a says Mr. Millus. “All we need to do the city—the 25-acre retail develop- Board 5, which includes Atlas Park. Park’s developer, Damon Hem- number of tenants, including furni- now is get through the foreclosure, ment initially seemed like some- “But they’re in a middle-income, merdinger—son of former MTA ture store Bombay & Co. and java close the door on uncertainty, and thing from an upscale retailer’s working-class neighborhood. I’m Chairman Dale Hemmerdinger— giant Starbucks. then great things will happen at dream. The 400,000-square-foot not sure there’s much of a demand went so far as to give away $100 bills “I’ve been telling all the tenants to Atlas Park.”

August 16, 2010 | Crain’s New York Business | 7 20100816-NEWS--0008-NAT-CCI-CN_-- 8/13/2010 6:42 PM Page 1

that received a favorable tax break from a committee he chaired. Mr. Rangel has made his THE INSIDER grievances known. On Page 2 of his response to the House ethics charges, he writes that he is not the by Erik Engquist and Jeremy Smerd only congressman to “allow” an institution to name a building after him, nor is he the first politician to GENTING’S GAMBLE Table gaming introduce potential donors to GOV. DAVID PATERSON and the leaders of the Assembly and the state Senate college officials. He cites as one have approved a deal to bring video slot machines to Aqueduct Racetrack example Senate minority leader in Queens. The agreement awards the contract to Malaysia-based casino Rangel defiant Mitch McConnell, whose corporate giant Genting Group, whose $380 million bid was the highest and the only donors helped pay for the one blessed by New York Lottery. McConnell Center at the The question now is whether Genting’s project will be profitable. The after Plaza bash University of Louisville. company appears to be enormously confident—it was the only bidder But fair or not, the damage may be done. Mr. Rangel’s troubles are undeterred by the state’s declaration that the winner’s $300 million deposit is nonrefundable. The provision will leave the company with no leverage if the ep. Charles Rangel is mad as hell.The morning not expected to force him out of the race, but even if he survives the state makes difficult demands as it negotiates the details of the project. after a birthday bash fundraiser at The Plaza hotel ethics charges and voters return Another obstacle is potential competition from the Shinnecock Indian last week, a defiant Mr. Rangel bashed the media him to Congress, he is unlikely to Nation, whose recent federal recognition gives it the right to build a casino on at a 40-minute press conference intended to show get back his chairmanship of the its Southampton reservation. The tribe will try to arrange for a more lucrative that, despite facing a congressional trial for ethics powerful Ways and Means site from the state, such as Belmont Park—a short drive from Aqueduct. Committee. Genting professes no fear of competition, given its success in other competitive Rviolations, he remains widely supported by the public and Other members of the city’s markets and the huge number of potential customers here. But the only unfairly condemned by the press. black political class commiserate gambling machines allowed at Aqueduct will be video lottery terminals— “No paper can deny anybody, even a Charlie Rangel, the with Mr. Rangel. Former Mayor armless slot machines—while the Shinnecocks would have table games. opportunity for a fair and David Dinkins succinctly rebutted a It’s easy to envision such competition spurring Genting to seek an Rangel protester’s remark outside expansion of gambling at Aqueduct. In fact, it broached the subject to equitable and just hearing,” The Plaza. He flipped the bird, to senators at a hearing last week. he told reporters. which Mr. Rangel later quipped, “I “If we have a full casino—table games, as well as slots—we have a better Mr. Rangel’s House can’t find a better way to say it.” chance” at attracting some of the 47 million annual customers of nearby hearing is set for the day John F. Kennedy International Airport, Genting spokesman Jay Walker said. He quickly added, “We don’t need it.” before the Sept. 14 primary. NYU prof catches Indeed, 60% to 70% of casinos’ revenues come from slots. Moreover, for The House ethics mayor’s bad math Genting, whose $4.3 billion Malaysian mountaintop complex is the committee alleges, among centerpiece of its worldwide entertainment empire, Aqueduct is essentially a mayor Michael Bloomberg won’t be starter project. Whether it makes money or not, it will provide a foothold in the other charges, that he Charles happy with NYU Professor U.S. market, which could lead to bigger opportunities here. improperly solicited Seife’s Proofiness:The Dark Arts of

donations to the Charles Mathematical Deception.The book, bloomberg news B. Rangel Center for to be published Sept. 23, blasts Bloomberg’s bragging about test scores—touting them as clear Public Service at City scores. “Bloomberg has been evidence that the schools are Fischer move may

newscom College from a company crowing about the improved improving,” the author says. “The backfire in race scores were improving because the tests appear to have gotten easier the lawsuit to disqualify Regina year after year.” Mr. Seife notes that Calcaterra from the state Senate city students’ scores on federal ballot is being argued by Suffolk exams did not improve nearly as County Republicans, but the much, indicating that their gains on challenge to her residency was state tests were “phony.”The tests begun by Greg Fischer, who was were just recalibrated, lending competing with Ms. Calcaterra for weight to his criticism. the Democratic nomination. Mr. Fischer’s plan backfired. His petitions to get on the ballot were Term limits 2.0: postmarked late and thrown out. If back on the ballot he and Ms. Calcaterra lose their appeals, Republican Sen. Kenneth the commission revising the LaValle will run unopposed. city’s charter will allow voters in November to reconsider limiting city elected officials to two terms, Gillibrand ponders but not whether to open up education ruling elections to candidates of any political stripe. The model that for-profit colleges that oppose was under consideration would the U.S. Department of Education’s have allowed candidates from any “gainful employment” rule are party to run in a primary, with the trying to make Sen. Kirsten Gillibrand top two vote-getters (left) an ally.They say that squaring off in a the rule would make it general election. harder for students to get Commissioners federally subsidized loans, supported the idea and that most of the but felt that they did affected students would be have enough time to minorities. A lobbyist for make their case to the the Art Institute of New public before Election York City (part of Day.The decision was Education Management

a blow to Mayor bloomberg news Corp.) argues that coming Michael Bloomberg, out against the rule would who spent $7 million in a failed help Ms. Gillibrand gain minority attempt to get voters to pass a votes. A Gillibrand spokesman says similar measure in 2003. she is studying the issue.

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8 | Crain’s New York Business | August 16, 2010 20100816-NEWS--0009-NAT-CCI-CN_-- 8/12/2010 7:51 PM Page 1

SMALL BUSINESS Are your hours too long? Take back your weekends suffered many sleepless nights and a the answer. Take Susan White. In Just try saying yes spate of bad colds,his doctor advised 2009, the president of White + to more rest that he cut back on his hours. Now, Warren, a Manhattan-based ap- he goes in every other Sunday. parel designer with $10 million in to maintain peak revenues, faced the departure of MORE productivity The drawbacks two senior executives over a period RELAXATION: for many small business owners of a year, as well as the recession. Spa owner in New York City, the economic She started working 24/7. “I never Enrique Ramirez BY ANNE FIELD downturn has meant a longer work- stopped,” she says. has cut down on his hours. week, often extending into week- Last fall, Ms. White spent about nrique ramirez’s ends and late into the night. But it $25,000 to switch the company business is all about re- comes at a cost. Overwork can con- from PCs to Macs, which helped laxation. Like most tribute to lower productivity, de- her designers work more efficiently

spas, Face to Face NYC pression, high blood pressure and and freed some of the time she spent buck ennis aims to provide its even heart attacks, says Debra Con- overseeing staff. Then, she started Ebeauty services in an atmosphere of dren, a Manhattan-based psycholo- using Skype instead of e-mail to His suggestions: Start the day with hattan with $750,000 in revenues, pampered tranquility. But Mr. gist and business coach. “Overwork communicate with factories in India a walk outside to get some mood- began working all the time, check- Ramirez is anything but stress-free. can have all sorts of nasty, toxic ef- and Hong Kong, which reduced enhancing sunlight, list your most ing his BlackBerry at home and on Since the economic downturn hit in fects, both psychologically and misunderstandings and sped up de- important tasks when you get to weekends. Recently, however, he 2008, he’s worked around the clock, physically,” she says. livery time. Next, she bought an work so you can attend to your started turning off the gadget in the opening up on Sundays—when the The answer, according to Dr. iPad, which improved everything No. 1 priority first, and give your- evenings and all day Saturdays,so he Manhattan shop used to be Condren and other small business from communication with her de- self at least one 10- to 20-minute could enjoy time with his family. closed—and staying open until 10 experts, is to find ways to work signers to researching competitors period when you work without in- It’s reduced his stress level, while p.m.during the week.“I had no oth- smarter, so you can cut back your online. As a result, Ms. White has terruption. increasing his efficiency at work. er choice,” he says. hours without hurting your liveli- significantly reduced her hours. “You can be much more productive It’s worked, to some extent. At hood—and recharge during your Just as important, say experts, is Turning off the BlackBerry when you’re not running on a ham- $375,000, his sales for 2009 were time off. finding ways to boost your ability to if you can force yourself to un- ster wheel all the time,” he says.
down about 10% from the year be- That’s easier said than done, of focus,even when you are stressed out. plug from e-mail in your time off, fore, not anywhere as precipitous a course, given the high cost of doing “By increasing your attention that may help, too. When the econ- To sign up for Crain’s decline as many other similar busi- business in New York and the fast level, you can get more done,” says omy went south, Doug Heddings, SMALL BUSINESS newsletter, go to nesses experienced. But the effort pace of life.Some entrepreneurs are physician Matthew Edlund, author who runs Heddings Property,a bou- www.crainsnewyork.com/smallbiz. has taken its toll.After Mr.Ramirez finding that better technology is of The Power of Rest (HarperOne). tique real estate company in Man-

REAL ESTATE DEALS

for advertising agencies will occupy Art Institute beds down in Brooklyn the entire 21st floor of the Monday Properties-owned building by the end of this month. The asking rent School plans to Housing also gives students a con- deep discounts can stop trekking out ect,we were acutely aware that a fur- was $40 per square foot. nectedness to the city and to the in- to Yonkers and Secaucus,N.J.,to get niture store would be needed at the “Their audience is advertising consolidate dorm stitution,” says Cassidy Turley’s Neil them.HomeGoods,the housewares development,”said Ms.Gedinsky in companies, and the building’s lobby Lipinski, who along with colleague chain owned by Framingham, a statement, referring to the dearth gave off the image they were look- space in a single Tim Kucha represented the tenant. Mass.-based TJX Group,has signed of furniture stores in the area. ing for,” says Harly Stevens of CB Heights property “We looked at other opportunities in on for its first Manhattan location. HomeGoods will join sister chain Richard Ellis, Manhattan, but the price point of The store is taking 5,700 square TJ Maxx at the development. The who represented private art and design this location was compelling.” feet on the ground floor and more new HomeGoods store is expected the tenant. He school is consolidating He says that in addition to the than 20,600 square feet in the base- to open in the first quarter of next adds that “the its dormitory space un- building being able to accommodate ment of 795 Columbus Ave.,one of five year. However, the store is choosing location was der a single roof in all AINYC students seeking hous- residential towers in the new devel- an interesting time to enter the Big central to most Brooklyn Heights. ing, its location was also convenient opment called Columbus Square. Apple. The home decor industry is of their clients.” AThe Art Institute of New York to its main TriBeCa campus, being HomeGoods already has nearly 300 still on the decline as consumers The firm has signed a five-year lease for the en- close to multiple subway lines that stores across the nation.The lease is postpone home improvements and currently occu- tire 41,500-square-foot building at offer service straight to the lower for 10 years. wait for the economy to stabilize. pies a total of 1440 Broadway 67 Livingston St. The 26-story Glory Manhattan neighborhood. Lori Shabtai and Kelly Gedin- U.S. sales of housewares were $2 bil- 20,600 square Capital-owned building built in “As we enter the fourth year of sky, the Winick Realty Group bro- lion for the 12 months ended in June, feet on two 1987 will allow AINYC to consoli- school-sponsored housing, it’s ex- kers representing the landlord—a a 6% drop from the previous year, ac- floors at 415 Madison Ave., which date student housing that is scattered citing to have this new facility that partnership reportedly between the cording to NPD Group Inc. were leased at different times to ac- across Brooklyn and Manhattan.Al- will house our students exclusively,” Chetrit Group and Stellar Manage- Peter Ripka of Ripco Real Estate commodate expansion. MediaMath though there wasn’t any posted ask- says Joe Pirrello, dean of student af- ment, called 795 Columbus—de- Corp. represented the tenant in the is relocating because it outgrew its ing rent,schools typically charge stu- fairs at the institute. clined to provide the asking rent. transaction. space there. Microsoft inherited the dents the equivalent of roughly $75 Campus Apartments will be man- However, asking rents for retail —adrianne pasquarelli space at 1440 Broadway when the per square foot for such dorm rooms. aging the property on behalf of land- space in the neighborhood are over company sold Razorfish last Au- The building—which features lord GC Livingston. Jason Cohen, $200 a square foot. gust. Since Microsoft didn’t need newly carpeted and painted rooms, regional property manager of Cam- “As we began marketing the proj- Tech firm grabs the space, it was put up for sublease. a new fitness center and flat-screen pus Apartments, negotiated terms of Microsoft sublease Mr. Stevens adds that due to the television sets in every room—will the lease on behalf of the landlord. complicated nature of the sublease, accommodate 182 students, all of —james comtois microsoft is subleasing some of its the deal took a little longer than usu- whom are scheduled to move in this local real estate to a growing digital al. “We did re-evaluate other op- week. New York University had media buying startup that’s gotten tions, but it still made the most used the building for housing and HomeGoods’ first too big for its current headquarters. amount of sense. So we decided to recently moved out. Manhattan store Three-year-old MediaMath has wait it out,” he says. “Being able to provide student signed a five-year sublease with Mi- Jones Lang LaSalle negotiated housing in a safe, convenient area new yorkers hungry for designer crosoft for 22,500 square feet at the sublease on behalf of Microsoft. helps bring in additional students. furniture and home decor items at NEW ARRIVAL: HomeGoods sets up shop. 1440 Broadway. The service provider —james comtois

August 16, 2010 | Crain’s New York Business | 9 20100816-NEWS--0010-NAT-CCI-CN_-- 8/13/2010 2:58 PM Page 1

VIEWPOINT Pension fund’s unhappy returns editor in chief Rance Crain publisher, vp Jill R. Kaplan

n an age when stories about flipped-out flight Average’s annual gain was 5.3%. With dividends, we can EDITORIAL attendants and Lindsay Lohan’s rehab dominate fairly assume that the pension fund’s equities will return 7%, editor Xana Antunes the news, it’s hard to get people riled up about the as will its real estate and alternative investments. Its fixed- managing editor Glenn Coleman deputy managing editors Valerie Block, state pension fund. income component should yield 4%. Under these Erik Ipsen contributing editor But a big tax increase would certainly grab their assumptions and the current asset-allocation model, Mr. Elizabeth MacBride attention. And that is what they’ll get if we don’t Wilson calculates, the fund would return 5.8%. columnists Greg David, Alair Townsend politics editor Erik Engquist reform the system that more than 1 million current To reach the magic 8%, he says, an 11% annual return pulse editor Barbara Benson and retired state workers count on for pension benefits. from equities and alternatives would be needed. Shooting for senior reporters Theresa Agovino, Aaron Elstein, Lisa Fickenscher, Now is the time to focus on the issue because it is such a number would entail more risk than appropriate for a Matthew Flamm, Miriam Kreinin Souccar I reporters James Comtois, Amanda Fung, generating a lot of heat between state Comptroller Thomas fund with taxpayers as the sole backstop. Mr. DiNapoli’s Daniel Massey, Adrianne Pasquarelli, DiNapoli—the fund’s sole trustee—and the Republican actuary is expected to recommend a modestly lower target Hilary Potkewitz, Jeremy Smerd art director Steven Krupinski running for his seat, Harry Wilson. Each is warning voters this month.The deputy art directors Carolyn McClain, that the other’s pension proposals would result in massive tax comptroller says a Daniel Mednick The comptroller staff photographer Buck Ennis hikes. Most people have no idea what they are talking about. greater reduction copy desk chief Wendy Zuckerman But beneath the partisan squabbling is a real problem. is expected would necessitate copy editor Thaddeus Rutkowski research editor Denise Southwood The state is operating on the assumption that its pension higher payments from assistant research editor Maia Blume to reduce his editorial interns Carl Gaines, Emily Laermer, fund will yield a return of 8%. Mr. DiNapoli has said this is a localities to make up David Montalvo, Blaire Porter, Rachel Wexler reasonable target that the fund has met for 30 years. But 8% assumption the difference. He is www.crainsnewyork.com web editor Brian Tracey some very savvy investors are not so optimistic. not about to trigger a senior producer Elisabeth Butler Cordova Warren Buffett has for several years been saying that tax increase in an producer Kira Bindrim public pension funds won’t achieve the robust returns that election year. EDITORIAL AND ADVERTISING OFFICES their politically conscious managers forecast. When returns But adopting a 711 Third Ave., New York, NY 10017-5806 editorial: 212.210.0277 Fax 212.210.0799 fall short, taxpayers make up the difference because, unlike realistic goal would push government toward the solution: to advertising: 212.210.0259 Cable craincom nyk private-sector pensioners, retired public workers are have new state employees contribute more of their paychecks Fax 212.210.0499 guaranteed their benefits. Mr. Buffett was delivering this to the pension fund, or wait longer to start collecting benefits. Entire contents ©copyright 2010 Crain Communications Inc. All rights reserved. message in the halcyon days when everyone was going to be State legislators won’t do that until they see that unfunded ®CityBusiness is a registered trademark of MCP rich and real estate was never going to lose value. Yet even pension liability is really tens of billions of dollars.That Inc., used under license agreement. now, when we know better, the pension problem is being liability is masked by optimistic projections. TO SUBSCRIBE: Call 888.909.9111; fax 313.446.6777. overlooked. Reform will keep tax increases at bay and ensure that the $3.00 a copy, $59.79 one year, $109.79 two years. Here’s the math. In the 20th century—on the whole, a pension fund remains eminently boring to New Yorkers. www.crainsnewyork.com great one for the U.S. economy—the Dow Jones Industrial That’s the way they like it. ADVERTISING AND MARKETING advertising director Trish Henry real estate sales manager Cornelius P. Gore senior account managers Irene Bar-Am, Courtney McCombs, William E. Squitieri account executive CRAIN’S ONLINE POLL COMMENTS Anthony Mowad sales manager, classified print & online John Gallagher IS THE ANGRY JETBLUE sales coordinator, print & online Lulé Haznedari FLIGHT ATTENDANT Hunts Point opportunity newsletter product manager Alexis Sinclair A HERO OR A VILLAIN? credit Todd J. Masura 313.446.6097 RETHINK HUNTS POINT BUILDING MOSQUE AT marketing director Amy Crossman Date of poll: Aug. 10 TO MEET FUTURE FOOD NEEDS GROUND ZERO ‘INDECENT’ director, audience development 372 votes John LaMarca as much as the Hunts Point Produce Market mayor michael bloomberg’s leadership is a senior audience development manager needs to be improved (“Food fight,” Aug. 2), it gift that this great city shall not soon see again Tarek Cotran should not just become an updated version of once his term concludes. Particularly in general manager, interactive Marc Minardo Hero. . 66% itself. Before the market is rebuilt, it needs to be education and public safety, I have seen his He lived out web developer, interactive rethought. proficiency up close. It is therefore disappointing Chris O’Donnell everyone’s Great cities like New York should have great that he has, in a facile manner, dismissed job-quitting fantasy. The food-distribution centers. Paris, for example, has opposition to the Ground Zero mosque. NEW YORK PRODUCTION

charges Rungis—a comprehensively planned and high- Americans and, indeed, New Yorkers take production and pre-press director against him 34%. functioning integrated market served by rail, as others at their word. Suffice to say that Imam Michael Corsi should be well as trucks. It incorporates advanced food- Rauf ’s recorded pronouncements to varied advertising production manager Suzanne Fleischman Wies dropped. safety systems, specialty and commodity food audiences are not consistent with pluralistic halls, a wholesale farmers’ market, composting American values.The Imam knows full well that PUBLISHED BY CRAIN COMMUNICATIONS INC. and recycling systems, restaurants, vehicle-repair a mosque at this location would be regarded as a chairman Keith E. Crain Villain. Flight shops, banks and other services. It is a dynamic, victory by Islamists the world over; a virtual president Rance Crain attendants inviting place of commerce that delivers “ownership” of the narrative of Ground Zero. secretary Merrilee Crain are supposed treasurer Mary Kay Crain significant economic benefit to its locale. When all the noise is blocked, the issue is at executive vp, operations William Morrow to keep their We need to plan for 1 million more mouths its most basic level a matter of common decen- emotions senior vp, group publisher Gloria Scoby under control to feed, according to PlaNYC—and to cy.Rubbing salt in the wounds of the 9/11 fam- group vp, technology, circulation, accommodate health policies that aim to ilies and Americans in general is indecent. manufacturing Robert C. Adams in any vice president/production & situation. increase consumption of fresh fruit and —jeffrey s. wiesenfeld manufacturing David Kamis vegetables. Rebuilding Hunts Point is not just (The writer is a CUNY trustee and former aide chief information officer Paul Dalpiaz another real estate transaction, but a critical to Mayor Ed Koch and Gov. George Pataki.) corporate circulation/audience opportunity for a world-class city like New development director Kathy Henry York to have a wholesale food market that CRAIN’S WELCOMES SUBMISSIONS to its opinion founder G.D. Crain Jr. (1885-1973) meets our growing and changing needs. pages. Send letters to [email protected]. chairman Mrs. G.D. Crain Jr. (1911-1996) For this week’s questions: Go to —karen karp Send columns of 475 words or fewer to www.crainsnewyork.com/poll to have your say. President [email protected]. Please include the writer’s Karp Resources name, company, address and telephone number.

10 | Crain’s New York Business | August 16, 2010 20100816-NEWS--0011-NAT-CCI-CN_-- 8/13/2010 1:31 PM Page 1

OPINION

together represent more than 5,000 taxi drivers and provide member- A call for ‘back to ship benefits to all union drivers. In New York City, the Hotel Trades Council provides training and credentialing for skilled posi- basics’ unionism tions in food preparation and food service,as well as in computer skills, boiler repair, plumbing, electrical BY MICHAEL GOODWIN work,air conditioning and refriger- ation mechanics. In collaboration he labor movement is at a crossroads. How can with the industry, medical coverage unions rebuild from the current low-water mark of and health care services are provid- ed, including a prescription drug about 15% of the entire work force? plan,dental care,optical care,a pen- Unions are best-known for bargaining contracts, sion plan, life insurance and acci- lobbying for legislation and participating in politi- dental death and dismemberment cal campaigns. But when they were founded more than a centu- benefits. T Such programs offer security and ry ago, they served other functions that continue to the present stability for employers,as well as em- day.From the construction crafts to the maritime industry to the ployees. How often have employers complained that they can’t find performing arts, unions set stan- rys and busted bubbles. skilled workers? Or that they can’t af- dards for skilled work, develop edu- The Office and Professional ford the cost of health care coverage cation and training programs to pre- Employees International Union has for their employees? Or that they are pare workers to meet those been successful in attracting new afraid to invest in their best workers standards, refer skilled workers to members by offering workers bene- for fear that they’ll go to work for employers with job openings, and fits that they want and need, at no their competitors? By providing in- collaborate with employers to pro- additional cost, by paying benefits dustrywide training and benefit mote quality products and services. out of the union’s general treasury. programs, unions can help quality Unions also pool their members’ Using combined purchasing power, companies to survive and thrive. purchasing power, often working OPEIU provides every member ac- Because it draws on the best tra- together with employers to offer cess to the PerksCard national dis- ditions of unions, guilds and worker benefits such as health care coverage count program, which offers dis- associations of all kinds, I call this and retirement income that workers counts at major retailers, as well as brand of worker organization can take with them from job to job. union-provided towing/service calls “back-to-basics unionism.” It can By assuming this stabilizing, through Nation Safe Drivers. In help unions find their footing in the service-oriented role in the nation’s several selected cities,OPEIU mem- new economy, facilitating employ- industries, unions can become es- bers receive death benefits, disabili- ees and employers to work together sential partners to business, labor ty benefits and discounts for med- in this new reality. and government and help them nav- ical and dental care, equipment and igate a postrecession economy that other purchases through Careing- Michael Goodwin is president of the Office will be a whole lot leaner and cruel- ton International. In Las Vegas, and Professional Employees International advisoryad6x3h.pdf 1 5/18/10 1:07 PM er than before the era of BlackBer- OPEIU and United Steelworkers Union, AFL-CIO.

Speaking of Republicans, have you heard from them? What is at- torney general candidate Dan Don- 2010 NY politics: ovan doing? And do you even re- JOIN CRAIN’S member, or care, who the various contenders are to oppose Sen. Kir- The spirit is weak sten Gillibrand? Only comptroller ADVISORY candidate Harry Wilson actually seems to be breathing. Wouldn’t it he dog days of summer” is certainly a phrase that be incredible if the Democrats re- applies to New York right now, as a malaise seems tained every statewide office,in what PANEL to have settled over government and politics. will be a strong Republican year elsewhere in the country? There’s no cause to panic—at least not yet—since Then there is the state Senate, autumn might bring new energy and hope. But where the Republicans have an ex- there are reasons to worry. cellent chance to regain control. T Apart from members of the city’s Looking for readers to share Mayor Michael Bloomberg’s dispirited retreat from his plans real estate industry, which can ex- to push nonpartisan elections represents one large red flag about pect the GOP to protect their inter- views and opinions. ests in rent regulation, it isn’t clear the prospects for the rest meaning to the concept who would find this to be a good de- of his third term. His of “politically inept.”He velopment. Why would one expect entire handling of the has proved right every Minority Leader Dean Skelos, City Charter commis- fear of party Chairman whose no-no-no approach essen- sion, which rejected the Ed Cox that he would tially torpedoed any fundamental idea,seems to have been not be able to raise any reforms this past year,to be more re- half-hearted—hardly money. Worse, he has sponsible when he is in power? Sign up for FREE today. the strategy of someone become a one-issue Last, and worth the considerable determined to leave im- candidate, harping on attention he has been getting, is www.crainsnewyork.com/advisory portant legacies during his opposition to the Brooklyn Rep. Anthony Weiner, who his last term in office. Ground Zero mosque— has been all over YouTube this sum- There is also the news GREG something crucial to the mer with his screaming rant over the from the Post that First DAVID future of New York state, health care bill for Sept. 11 respon- CRAIN’S NEW YORK BUSINESS Deputy Mayor Patricia right? November will ders.Mr.Weiner,you will remember, Harris is spending most usher Attorney General is one of the leading candidates to of her time working on the mayor’s Andrew Cuomo into the job of gov- succeed Mr. Bloomberg. Does New foundation, a telling development. ernor. It’s a shame that his election York City really need a mayor who Rick Lazio, the GOP gubernato- won’t have been contested and his loses control like this, or who thinks rial candidate,continues to give new program picked apart.Thanks, Rick. such a strategy is politically wise?

August 16, 2010 | Crain’s New York Business | 11 20100816-NEWS--0012,0013-NAT-CCI-CN_-- 8/12/2010 6:19 PM Page 1 WASTENOT

nly at a wastewater treatment plant are words like sludge, scum and grit technical terms. (Scum, for example, refers to the grease that comes off the top of some tanks.) Newtown Creek, the largest of the city’s 14 treatment plants, extracts all of these—and more—out of 250 million gallons of toilet and sewage water a day, before sending most of the treated water into the river. O¶ “It’s a living, breathing animal,” says Eric Klee, deputy superintendent. ¶ A massive construction project to expand the 43-year-old facility in Greenpoint, Brooklyn, which began in 1998, will wrap up by the end of 2014.The $5 billion project has more than doubled the plant’s capacity to 700 million gallons per day. ¶ Right now, a third battery—which includes the grit and aeration tanks, where most of the plant’s work is completed—is being built to increase the speed at which the water can be treated. From when the water enters the main sewage pipe to when it flows into the East River six hours later, it goes through more than half a dozen steps of screening, digesting and cleaning. Several types of single-celled organisms—including aerobic ones that remove grit and mesophilic bugs that help with digestion—help create a partly self-sustaining cleaning process. ¶ The new construction will also help the plant comply with stiffer Environmental Protection Agency water regulations.The state declared that the Newtown Creek facility was not meeting water-quality standards under the Federal Clean Water Act in the early 1990s. Since then, it has expanded its capacity and created additional treatment areas to increase efficiency and bring the plant up to code. –photos by buck ennis, text by emily laermer

FOR EVERY 50 million gallons of clean water sent into the river, 10 million are sent to these stainless- steel eggs, where waste is anaerobically digested, using heat, time and mesophilic bugs that need temperatures of over 98 degrees to survive. The eight eggs can process as much as 1.5 million gallons each day and convert the waste into methane, carbon dioxide and sludge. The methane gas is used to produce electricity and drive equipment at all the city’s wastewater treatment plants. The acids are temporarily stored in cylinders next to the eggs, before leaving the plant through a pipeline that ends at the East River Dock. Some of the excess sludge is eventually turned into fertilizer, which may be sent to orange fields in Florida. LOCATED at the entrance to the plant, the Visitors Center was completed this spring. Scenes from Angelina Jolie’s summer blockbuster, Salt, and Michael Douglas’ upcoming Wall Street: Money Never Sleeps were filmed in the building.

12 | Crain’s New York Business | August 16, 2010 20100816-NEWS--0012,0013-NAT-CCI-CN_-- 8/12/2010 6:20 PM Page 2

A SMALL AMOUNT of water is removed from the battery and tested in a lab for nitrogen levels and carbonaceous biochemical oxygen demand. CBOD is a measurement of oxygen dissolved by vorticellae, single- celled organisms that digest waste that is still in the water. Lab technicians take their measurements in an oven in order to cook off excess water.

MUCH OF THE WORK done to clean the water occurs in the plant’s two batteries. In the first phase, the rocks and nonfood solids—known as grit—are removed from the water in the detritors. The water leaves one of the plant’s 32 detritors—16 on each battery—and is funneled into a common channel, where it is sent to the aerators for more processing.

August 16, 2010 | Crain’s New York Business | 13 20100816-NEWS--0014-NAT-CCI-CN_-- 8/12/2010 7:53 PM Page 1

TOURISM

On-Time Performance This year, the percentage of on-time New York Area’s Top Airlines arrivals continues to improve at all local airports. However, Newark remains the worst performer. Ranked by total passengers at major local airports

      
      
                      

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58:,8 Source: Bureau of Transportation Statistics ➚➚ SEE ALL OF CRAIN’S BUSINESS LISTS @ WWW.CRAINSNEWYORK.COM/LISTS 14 | Crain’s New York Business | August 16, 2010 CN013875 8/13/10 12:07 PM Page 1 nb33p16-17cl.qxp 8/13/10 2:45 PM Page 16

BUSINESS OPPORTUNITY PUBLIC & LEGAL NOTICES We are based in the Malaysia, we are in exporting and trading of Notice of Qualification of APOLLO Notice of Qualification of NCM SRLP Notice of Qualification of APTHORP NOTICE OF FORMATION OF Honest Dried Battery Cells, PET Flakes, CREDIT MANAGEMENT II, L.P. 2010-1, LLC. Authority filed with SENIOR MEZZANINE LLC. Authority Crafts LLC. Articles of Organization Copper Scrap, HMS 1&2, Used Authority filed with Secy. of State of Secy. of State of NY (SSNY) on filed with Secy. of State of NY (SSNY) filed with the Secretary of State of NY Rails, Aluminium Scrap and other NY (SSNY) on 07/30/10. Office loca- 07/14/10. Office location: NY County. on 06/23/10. Office location: NY (SSNY) on 6/10/10. Office location scrap materials, in the direct order tion: NY County. LP formed in LLC formed in Delaware (DE) on County. LLC formed in Delaware (DE) NEW YORK County. SSNY has been of business ethics, we are tested Delaware (DE) on 06/29/10. Princ. 04/27/10. Princ. office of LLC: 9 W. on 06/22/10. Princ. office of LLC: designated as agent upon whom and trusted to have offered a very office of LP: Attn: John J. Suydam, 9 57th St., 15th Fl., NY, NY 10019. Apthorp Management LLC, c/o The Feil process against it may be served. W. 57th St., 43rd Fl., NY, NY 10019. SSNY designated as agent of LLC Organization, Seven Penn Plaza, NY, NY The Post Office address to which the good service to our customers, and SSNY designated as agent of LP upon whom process against it may 10001. SSNY designated as agent of SSNY shall mail a copy of any this is not about to change. We upon whom process against it may be served. SSNY shall mail process LLC upon whom process against it may process against the LLC served upon hope to meet serious and clean be served. SSNY shall mail process to c/o Corporation Service Co. be served. SSNY shall mail process to him/her is C/O the LLC 7014 13th buyers as well. Please do not to the LP at the addr. of its princ. (CSC), 80 State St., Albany, NY the LLC at the addr. of its princ. office. Ave., Ste. 202. Brooklyn, NY 11228. hesitate to inquire from us at... office. Name and addr. of each gen- 12207-2543. DE addr. of LLC: c/o DE addr. of LLC: 2711 Centerville Rd., Purpose of LLC: to engage in any [email protected]. eral partner are available from SSNY. CSC, 2711 Centerville Rd., Ste. 400, Ste. 400, Wilmington, DE 19808. Arts. of lawful act or activity. Street address DE addr. of LP: c/o Corporation Wilmington, DE 19808. Arts. of Org. Org. filed with DE Secy. of State, Div. of of Principal Business location is: 140 Service Co., 2711 Centerville Rd., filed with The Secy. of State of DE, Corps., 401 Federal St., Ste. 4, Dover, E. 81st St. #3A. New York, NY 10028. Ste. 400, Wilmington, New Castle Dept. of State, Div. of Corps., 410 DE 19901. Purpose: Any lawful activity. Cnty., DE 19808. Arts. of Org. filed Federal St., Dover, DE 19901. Notice of Formation of Judd EXECUTIVE with The Secy. of State of the State Purpose: Any lawful activity. Notice of Qualification of COTC, LLC. Foundation 101 Spring Street of DE, Dept. of State, Div. of Corps., Authority files with NY Dept. of State Manager, LLC. Arts. of Org. filed RECRUITER John Townsend Bldg., Dover, DE Notice of Formation of ICER of 322 W. on 6/18/10. Office location: NY County. with NY Dept. of State on 7/2/10. 19901. Purpose: Any lawful activity. 138th Street, LLC. Art. of Org. filed Princ. bus. addr.: 8235 Forsyth, Ste. 400, Office location: NY County. Sec. of with Secy. of State of NY (SSNY) on Clayton, MO 63105. LLC formed in DE State designated agent of LLC POSITIONS AVAILABLE Notice of Formation of limited liability 05/26/10. Office location: NY Co. on 9/28/09. NY Sec. of State designated upon whom process against it may company (LLC). Name: Derived Data, SSNY designated as agent of LLC as agent of LLC upon whom process be served and shall mail process to LLC. Articles of Organization filed upon whom process against it may against it may be served and shall mail the principal business addr.: Judd SALES TERRITORY MGR - NYC with Secretary of State of New York be served. SSNY shall mail process process to: c/o CT Corporation System, Foundation, 101 Spring St., NY, NY Cityside Archives, records storage (SSNY) on 7/15/2010. NY office loca- to the LLC, c/o ICER Brands, LLC, 111 8th Ave., NY, NY 10011, regd. agent 10012, Attn: Flavin Judd, regd. & info Mgmt, seeks sales pro with tion: New York County. SSNY has 1385 Broadway - 16th Fl., New York, upon whom process may be served. DE agent upon whom process may be B2B exp. in NYC. $75K to $125K+ been designated as agent of the LLC NY 10018. Purpose: any lawful act addr. of LLC: Corporation Trust Co., 1209 served. Purpose: any lawful activity. (Base Salary + Comm.) + Car, Med upon whom process against it may or activity. Orange St., Wilmington, DE 19801. Arts. benefits. Send resume/cover to: be served. The post office address to of ORg. filed with DE Sec. of State, 401 Notice of Qualification of Building Notice of Formation of Remedy Federal St., Dover, DE 19901. Purpose: [email protected] which SSNY shall mail a copy of any Blocks (US), LLC. Authority filed with process against the LLC served upon Hospitality Group LLC. Arts. of Org. any lawful activity. NY Dept. of State on 7/26/10. Office him/her is: Oleg Doina, 866 United filed with NY Dept. of State on location: NY County. LLC formed in Sr. Accountant: Prpr acntg for Nations Plaza, Ste 566, New York, NY 8/2/10. Office location: NY County. Notice of Formation of ICER Outlets, FL on 5/7/10. NY Sec. of State des- Japns/HK trdg/mngmnt entities; Asst 10017. Purpose/character of LLC: Sec. of State designated as agent of LLC. Art. of Org. filed with Secy. of ignated as agent of LLC upon whom in lcal tax fil’g. Req’ts: Bchlr’s in any business activity allowed by law. LLC upon whom process against it State of NY (SSNY) on 02/26/10. process against it may be served Acctg & 2 yrs in jb offrd or as Audtr may be served and shall mail Office location: NY Co. SSNY and shall mail process to: CorpDirect process to the principal business hndl’g publc acnt’g for fnancl srvcs. Notice of Formation of Carlton House designated as agent of LLC upon Agents, Inc., 10 E. 40th St., 10th Fl., addr.: 350 William St., Scotch Plains, Skls rqd: JGAAP/US GAAP, FAS 52; Development LLC. Arts. of Org. filed whom process against it may be NY, NY 10016. FL and principal NJ 07076. Attn: John J. Roder, Jr. Exprnc w/mstr-feedr/consldtn/mngm- with Secy. of State of NY (SSNY) on served. SSNY shall mail process business addr.: 14004 Roosevelt Purpose: any lawful activity. nt cmpns/trdg vhcls; fixd incm/frgn 7/13/10. Office location: NY Co. SSNY to the LLC, c/o ICER Brands, LLC, Blvd., Ste. 601H, Clearwater, FL crncies; CPA; Japanese fluency. 1385 Broadway - 16th Fl., New York, designated as agent of LLC upon Notice of Qualification of QUIDNET 33762. Arts. of Org. filed with FL Sec. MPG Operations LLC, New York, NY. NY 10018. Purpose: any lawful act whom process against it may be CAPITAL PARTNERS, LLC. Authority of State, 2661 Executive Center or activity. Resumes to box 0189 711 3rd Ave. served. SSNY shall mail process to: filed with Secy. of State of NY Circle, Tallahassee, FL 32301. 3rd Floor, NY, NY 10017. National Registered Agents, Inc., 875 (SSNY) on 07/13/10. Office location: Purpose: any lawful activity. Ave. of the Americas, Ste. 501, NY, NY NY County. LLC formed in Delaware NOTICE OF FORMATION OF Brook Developer, Global Interest Rate 10001. Purpose: any lawful activities. (DE) on 05/13/10. Princ. office of Farm Group LLC. Article of CC REALTY SERVICES LLC, a Products (Citadel LLC - New York, LLC: 527 Madison Ave., 6th Fl., NY, Organization filed with the Secretary domestic Limited Liability Company NY) Design & develop core interest DIAMOND HILL PROPERTY HOLD- NY 10022. SSNY designated as of State of NY (SSNY) on 5/11/2010. (LLC) filed with the Sec of State of rate analytics written in C++ & Python INGS LLC Articles of Org. filed NY agent of LLC upon whom process Office location NEW YORK County. NY (SSNY) on 7/16/10. NY office Location: New York County. SSNY is for the Unix/Linux & Windows plat- Sec. of State (SSNY) 8/3/2010. against it may be served. SSNY shall SSNY has been designated as agent upon whom process against it may be designated as agent upon whom form. Reqs Masters in Mathematics, Office in NY Co. SSNY desig. agent mail process to the LLC at the princ. of LLC upon whom process may be served. The Post Office address to process against the LLC may be Economics, Engineering or related office of the LLC. DE addr. of LLC: served. SSNY shall mail copy of c/o Corporation Service Co., 2711 which the SSNY shall mail a copy of served. SSNY shall mail a copy of quantitative technical field. Must process to 24 O’Shea Lane, Summit, any process against the LLC served any process against the LLC served have 2 yrs of exp dvping & testing Centerville Rd., Ste. 400, Wilmington, NJ 07901. Purpose: Any lawful pur- New Castle Cnty., DE 19808. Arts. of upon him/her is C/O the LLC 161 upon him/her to The LLC, c/o software appli in investment mgmt pose. Principal business location: 45 Org. filed with DE Secy. of State, Div. Chrystie Street. New York, NY 10002. Clemente Cohen, 49 E. 86th St., NY, firm. Exp must incl. the following: Park Ave., #1606 , NY, NY 10016. of Corps., John G. Townsend Bldg., Purpose of LLC: to engage in any NY 10028 General Purpose Exp w/ Object Oriented programming 401 Federal St., Ste. 4, Dover, DE lawful act or activity. Street address & server-side design used to design NOTICE OF QUALIFICATION OF 19901. Purpose: Any lawful activity. of Principal Business location is: 161 NOTICE OF FORMATION of Wanclan appli relating to desk risk/PNL analy- Bogart + Bogart LLC. Articles of Chrystie Street. New York, NY 10002. Productions, LLC. Article of Organization sis; Exp w/ database technologies Organization/Application for Authority Notice of Qualification of CenturyTel filed with the Secretary of State of incl. Sybase; Exp w/ Python code in filed with the Secretary of State of Long Distance, LLC. Authority filed NOTICE OF FORMATION OF Christel NY (SSNY) on 06/21/10. Office location: investment mgmt firm environ; & Exp New York (SSNY) on 06/01/10. N.Y. with NY Dept. of State on 6/14/10. D’Agostino, LLC. Article of Organization NY County. SSNY has been desig- filed with the Secretary of State of w/ appli of analytical & mathematical Office Location: New York County. Office location: NY County. LLC nated as agent upon whom process LLC formed in Deleware on 01/14/10 NY (SSNY) on 02/23/09. Office loca- principles in software system design. formed in LA on 1/14/02. NY Sec. of against it may be served. The Post SSNY has been designated as agent tion: New York County. SSNY has Office address to which the SSNY Resumes: Employee Relations/EH, State designated as agent of LLC of LLC upon process against it may upon whom process against it may been designated as agent upon whom shall mail a copy of any process Attn: JobR-0141, Citadel LLC, 131 be served. The P.O. address to which be served and shall mail process to: process against it may be served. against the LLC served upon him is South Dearborn Street, 32nd Floor, the SSNY shall mail a copy of any c/o CT Corporation System, 111 The Post Office address to which the C/O the LLC 7014 13th Avenue, Suite Chicago, IL 60603. process against the LLC served upon 8th Ave., NY, NY 10011, regd. agent SSNY shall mail a copy of any process 202, Brooklyn, NY, 11228. Purpose him/her is C/O the LLC: 16192 Coastal upon whom process may be against the LLC served upon him is of LLC: to engage in any lawful act or Hwy, Lewes, DE. 19958. The Principal served. LA and principal business C/O the LLC United States Corporation activity. Street address of Principal Business Address of the LLC is: 23 addr.: 100 CenturyLink Dr., Monroe, Agents, Brooklyn, NY 11228. Business location is: 250 E. 30th PUBLIC & 8th Ave, NY, NY 10014. Dissolution LA 71203. Arts. of Org. filed with LA Purpose of LLC: To engage in any Street, Apt. 6B, New York, NY, 10016. date: N.A. Purpose of LLC: To Sec. of State, 8585 Archives Ave., lawful act or activity. Street address LEGAL NOTICES engage in any lawful act or activity. Baton Rouge, LA 70809. Purpose: of Principal Business location is: 310 Name of For. LP: AB PERRY VALUE all lawful purposes. W 72 St., New York, NY 10023. PARTNERS (INTERMEDIATE) L.P. Notice of Qualification of DWUWS Name of Foreign LLC: P. SCHOENFELD Appl. for Auth. filed with Sec. of State LLC. Authority filed with Secy. of ASSET MANAGEMENT GP LLC. App. Notice of Qualification of PennantPark NOTICE OF QUALIFICATION OF ASTAR, of NY: 6/22/2010. Jurisd. and date of State of NY (SSNY) on 07/28/10. for Auth. filed NY Dept. of State: SBIC GP, LLC. Authority filed with LLC. Authority filed with NY Dept. of org.: DE 6/8/2010. Princ. bus. loc.: Office location: NY County. LLC 12/24/08. Jurisd. and date of org.: DE NY Dept. of State on 7/12/10. Office State on 5/26/2010. NYS fictitious name: 1345 Ave. of the Americas, NY, NY formed in Delaware (DE) on 12/10/08. County off. loc.: New York location: NY County. Princ. bus. addr.: ASTAR STUDIOS, LLC. LLC formed in 10105. NY State off. loc.: NY Cty. 07/19/10. Princ. office of LLC: c/o Cty. Princ. bus. loc.: 1350 Ave. of the 590 Madison Ave., 15th Fl., NY, NY Delaware (“DE”) on 4/15/2010. Office Sec. of State designated as agent Janover, LLC, 805 Third Ave. - 10th Americas, 21st Fl., NY, NY 10019. 10022. LLC formed in DE on 5/7/10. location: NY County. Princ. office of LLC: upon whom process against it may Fl., NY, NY 10022. SSNY designated Sec. of State designated as agent of NY Sec. of State designated agent of 590 Madison Ave., 21st Floor, New York, be served. Sec. of State shall mail as agent of LLC upon whom process foreign LLC upon whom process LLC upon whom process against it NY 10022. Sec. of State designated copy of process to: c/o AB Perry against it may be served. SSNY shall against it may be served. The Sec. of may be served and shall mail process as agent of LLC upon whom process Value Partners GP LLC, 1345 Ave. of mail process to the LLC at the addr. State shall mail copy of process to: to: c/o CT Corporation System, 111 against it may be served and shall mail the Americas, NY, NY 10105. Addr. of its princ. office. DE addr. of LLC: 1350 Ave. of the Americas, 21st Fl., NY, 8th Ave., NY, NY 10011, regd. agent any process to the princ. office of the of LP in DE is: Corporation Service c/o Corporation Service Co., 2711 NY 10019. Addr. of foreign LLC in upon whom process may be served. LLC. DE Office: ASTAR, LLC, c/o The Company, 2711 Centerville Rd., Ste. Centerville Rd., Ste. 400, Wilmington, DE is: National Corporate Research, DE addr. of LLC: c/o The Corporation Incorporating Company LLC, 42 Read’s 400, Wilmington, DE 19808. Name/ DE 19808. Arts. of Org. filed with Ltd., 615 South DuPont Hwy., Dover, Trust Co., 1209 Orange St., Wilmington, Way, New Castle, DE 19720. Articles of addr. of GP avail. from Sec. of State. Secy. of State - DE, Div. of Corps., DE 19901. Auth. officer in DE where DE 19801. Arts. of Org. filed with DE org. filed with Jeffrey W. Bullock, DE Sec. Authorized office in DE where Cert. John G. Townsend Bldg., 401 Cert. of Form. filed: DE Sec. of State, Sec. of State, Loockerman & Federal of State, DE Div. of Corporations, 401 of LP is filed: DE Secy. of State, Federal St., Dover, DE 19901. Townsend Bldg., Dover, DE 19901. Sts., Dover, DE 19901. Purpose: any Federal Street, Suite 4, Dover, DE 19901. Townsend Bldg., Dover, DE 19901. Purpose: Any lawful activity. Purpose: any lawful activity. lawful activity. Purpose: any lawful activity. Purpose: any lawful activity.

16 | Crain’s New York Business | August 16, 2010 nb33p16-17cl.qxp 8/13/10 2:45 PM Page 17

PUBLIC & LEGAL NOTICES

Notice of Qualification of HEALTHCARE Notice of Qualification of COHESIVE Notice of Qualification of Two Sigma Notice of Qualification of C-III Realty Notice of Qualification of PROTIUM FINANCE GROUP, LLC. Authority CAPITAL (GP), L.P. Authority filed Holdings VC Acquisition Vehicle IV, Services LLC. Authority filed with NY MASTER MORTGAGE LP. Authority filed with Secy. of State of NY (SSNY) with Secy. of State of NY (SSNY) on LLC, Authority filed Sec’y of State Dept. of State on 7/8/10. Office loca- filed with Secy. of State of NY (SSNY) on 06/07/10. Office location: NY 07/21/10. Office location: NY (SSNY) 10/7/08. Office loc.: NY tion: NY County. Princ. bus. addr.: on 06/25/10. Office location: NY County. LLC formed in Delaware (DE) County. LP formed in Delaware (DE) County. LLC org. in DE 10/3/08. SSNY 200 Whitsett St., Ste. 100, Greenville, County. LP formed in Delaware (DE) on 05/23/08. Princ. office of LLC: 199 on 07/06/10. Princ. office of LP: c/o desig. as agent of LLC upon whom SC 29601. LLC formed in DE on on 08/14/09. Princ. office of LP: 200 Water St., NY, NY 10038. SSNY des- Cohesive Capital Partners, 650 5th process against it may be served. 7/2/10. NY Sec. of State designated Park Ave., 29th Fl., NY, NY 10016. ignated as agent of LLC upon whom Ave., 31st Fl., NY, NY 10019. SSNY SSNY shall mail copy of proc. to Attn: as agent of LLC upon whom process SSNY designated as agent of LP process against it may be served. designated as agent of LP upon Matthew B. Siano, 379 W. Broadway, against it may be served and shall upon whom process against it may SSNY shall mail process to the LLC whom process against it may be 5th Fl., NY, NY 10012. DE office addr.: mail process to: c/o CT Corporation be served. SSNY shall mail process at the princ. office of the LLC. DE served. SSNY shall mail process to CSC, 2711 Centerville Rd., Wilmington, System, 111 8th Ave., NY, NY 10011, to Corporation Service Co. (CSC), 80 addr. of LLC: c/o United Corporate the LP at the addr. of its princ. office. DE 19808. Cert. of Form. on file: regd. agent upon whom process may State St., Albany, NY 12207-2543. Services, Inc., 874 Walker Rd., Ste. Name and addr. of each general SSDE, Townsend Bldg., Dover, DE be served. DE addr. of LLC: 1209 Name and addr. of each general C, Dover, DE 19904. Arts. of Org. partner are available from SSNY. DE 19901. Purp.: any lawful activities. Orange St., Wilmington, DE 19801. partner are available from SSNY. DE filed with DE Secy. of State, Div. of addr. of LP: c/o Corporation Service Arts. of Org. filed with DE Sec. of addr. of LP: CSC, 2711 Centerville Corps., John G. Townsend Bldg., 401 Co., 2711 Centerville Rd., Wilmington, NOTICE OF FORMATION of State, 401 Federal St., Dover, DE Rd., Ste. 400, Wilmington, DE 19808. Federal St. - Ste. 4, Dover, DE 19901. DE 19808. Arts. of Org. filed with SUSHICONE LLC. Arts of Org filed 19901. Purpose: any lawful activity. Purpose: The purchase and sale of Purpose: Any lawful activity. Secy. of State of DE, Dept. of State, with the Secy of State of New York residential mortgage loans on the Div. of Corps., John Townsend (SSNY) on 4/20/10. Office location: NOTICE OF FORMATION OF FSC secondary market. Notice of Formation of Mesh LLC, Art. Bldg., Dover, DE 19901. Purpose: NY County. SSNY designated as an BARBER - ZZANO L.L.C. Articles of of Org. filed Sec’y of State (SSNY) Any lawful activity. agent upon whom process may be Organization filed with Secretary of NOTICE OF FORMATION OF StyleIcon 5/24/10. Office location: NY County. served and shall mail a copy of any State of New York (SSNY) on Solutions LLC. Article of Organization SSNY designated as agent of LLC Notice of Formation of CMA REAL process to the principal business 05/07/2010. Office location: NY filed with the Secretary of State of upon whom process against it may be ESTATE MANAGEMENT, L.L.C. Arts. address: 242 E 83 St., #3D, NY NY County. SSNY has been designated NY (SSNY) on 06/07/2010. Office served. SSNY shall mail copy of pro- of Org. filed with Secy. of State of 10028. Purpose: any lawful act. as an agent upon whom process location NEW YORK County. SSNY has cess to c/o Salans LLP, Attn: Robert K. NY (SSNY) on 07/07/10. Office loca- against the LLC may be served. The been designated as agent upon whom Smits, Esq., 620 Fifth Ave., NY, NY tion: NY County. Princ. office of Notice of Formation of THE BIG SOCIAL, address to which SSNY shall mail a process against it may be served. The 10020. Purpose: any lawful activities. LLC: 330 W. 75th St., NY, NY 10023. LLC, a domestic LLC. Arts. of Org. filed copy of any process against the LLC Post Office address to which the SSNY SSNY designated as agent of LLC with the SSNY on 03/16/2010. Office is to: FSC Barber - Zzano L.L.C., 191 shall mail a copy of any process against NOTICE OF FORMATION OF Pay and upon whom process against it may location: NY County. SSNY has been Chrystie Street, Suite #2F, New York, the LLC served upon him/her is C/O the Clean LLC. Arts. of Org. filed with be served. SSNY shall mail process designated as agent upon whom NY 10002. Purpose: To engage in LLC 300 E. 76th St. Apt. b2. New York, Secy. of State of NY (SSNY) on 3/4/10. to the LLC at the addr. of its princ. process against the LLC may be served. any lawful act or activity. NY 10021. Purpose of LLC: to engage Office location: New York County. office. Purpose: Any lawful activity. SSNY shall mail a copy of process to: in any lawful act or activity. Street SSNY designated as agent of LLC 266 East Broadway, B207, NY, NY Notice of Qualification of CENTRO NP address of Principal Business location upon whom process against it may ALEXANDER AND IRINA LLC a 10002. Reg Agent: Suhyun Pak, 266 MONROE PLAZA, LLC. Authority is: One Union Square South Ste. 20A. be served. SSNY shall mail process domestic Limited Liability Company East Broadway, B207, NY, NY 10002. filed with Secy. of State of NY (SSNY) New York, NY 10003. to: 1011 Beverley Road Brooklyn, NY (LLC), filed with the Sec of State of Purpose: Any Lawful Purpose. on 07/16/10. Office location: NY 11218. Purpose: any lawful activity. NY on 6/10/10. NY Office location: County. LLC formed in Delaware (DE) NOTICE OF FORMATION of Zollinger & New York County. SSNY is designated Notice of Formation of 216 EAST 28TH on 07/09/10. SSNY designated as Associates, LLC. Arts of Org filed with Notice of Registration: Kim Lee CPAs as agent upon whom process against STREET LLC. Arts. of Org. filed with Secy. agent of LLC upon whom process the Secy of State of New York (SSNY) LLP. Certificate filed with Sec of State the LLC may be served. SSNY shall of State of NY (SSNY) on 5/30/01. Office against it may be served. SSNY shall on 5/19/10. Office location: NY County. of NY (SSNY) on 7/7/10. Office loc: mail a copy of any process against location: NY County. SSNY designated mail process to c/o Corporation SSNY designated as an agent upon New York County. SSNY designated the LLC served upon him/her to The as agent of LLC upon whom process Service Co., 80 State St., Albany, NY whom process may be served and as agent of LLP upon whom process LLC, 2207 Broadway, Unit 10L, NY, against it may be served. SSNY shall mail 12207-2543. DE addr. of LLC: 2711 shall mail a copy of any process to C/O against it may be served. SSNY shall NY 10024. General Purposes. process to: c/o Vickers Management Centerville Rd., Ste. 400, Wilmington, United States Corporation Agents, Inc. mail process to: 1261 Broadway, Suite Corp., 428 E. 83rd St., NY, NY 10028. DE 19808. Arts. of Org. filed with 7014 13th Ave., Ste 202, Brooklyn, NY 302, New York, NY 10001. Purpose: Notice of formation of Digital Purpose: any lawful activity. Secy. of State, Div. of Corps., 11228. Principal business address: Certified Public Accountancy. Management Services Consultancy, Townsend Bldg., Dover, DE 19901. 450 W. 17 St., Ste 1702, NY NY 10011. Purpose: Any lawful activity. Purpose: any lawful act. LLC Arts. of Org. filed with the Sect’y Notice of Formation of G&S SOLAR Notice of Formation of Chop’t 80 Pine of State of NY (SSNY) on INSTALLERS LLC. Arts. of Org. filed LLC. Arts of Org. filed with Secy. Of 12/17/2009. Office location, County Notice of Qualification of BSE Ventures Notice of Formation of a Limited Liability with Secy. of State of NY (SSNY) on LLC. Authority filed with NY Dept. of Company (LLC): Name: BLUELINE State of NY (SSNY) on 7/20/10. of New York. SSNY has been desig- 01/15/10. Office location: NY Office location: NY County. SSNY nated as agent of the LLC upon State on 5/27/10. Office location: NY CAMPAIGNS LLC, Organized on: County. Princ. office of LLC: 211 E. County. LLC formed in DE on 5/26/10. 07/02/2010. Office locations: New designated as agent of LLC upon whom process against it may be 43rd St., NY, NY 10017. SSNY des- whom process against it may be served. SSNY shall mail process to: NY Sec. of State designated as York County. Purpose: Any and all ignated as agent of LLC upon whom agent of LLC upon whom process lawful activities. Secretary of State of served. SSNY shall mail process to: Bertine, Hufnagel Headley Zeltner process against it may be served. the LLC, c/o Chopt, Attn: President, Drummond & Dohn LLP, 700 Post against it may be served and shall New York (SSNY) designated as SSNY shall mail process to the LLC mail process to the principal business agent of LLC upon whom process 853 Broadway, Suite 606, NY, NY Road Suite 237, Scarsdale, NY at the addr. of its princ. office. 10003. Purpose: any lawful activity. 10583. Purpose: Any lawful act. addr.: 345 Park Ave., 41st Fl., NY, NY against it may be served. SSNY shall Purpose: Any lawful activity. 10154. DE addr. of LLC: c/o National mail copy of process to: BLUELINE Notice of Formation of 2146 Nostrand Notice of Formation of 232 EAST Corporate Research, Ltd., 615 S. CAMPAIGNS LLC, 45 Wall St, Suite Avenue Associates LLC. Arts. of Org. BROADWAY LLC. Arts. of Org. filed 93 Madison LLC. Arts of Org filed DuPont Hwy., Dover, DE 19901. Arts. 1613, New York, NY 10005-1919. filed with Secy. of State of NY (SSNY) with Secy. of State of N.Y. (SSNY) on with NY Sec of State (SSNY) on 7/1/10. of Org. filed with DE Sec. of State, Latest date upon which LLC is to on 6/15/10. Office location: NY County. 7/13/10. Office location: New York Office: New York County. SSNY des- 401 Federal St., Dover, DE 19901. dissolve: No specific date. SSNY designated as agent of LLC upon County. SSNY designated as agent ignated as agent of LLC upon whom Purpose: any lawful activity. whom process against it may be served. of LLC upon whom process against process may be served. SSNY shall Notice of Formation of BSG Members SSNY shall mail process to: c/o The it may be served. SSNY shall mail mail copy of process to: 107 Madison Notice of Formation of JAZTB LLC. LLC. Art. of Org. filed with Secy. of LLC, 1412 Broadway, 3rd Fl., NY, NY process to: c/o Ira Meister, Matthew Street, Apt. 1B, New York, NY 10002. Arts. of Org. filed with Secy. of State State of NY (SSNY) on 12/15/09. Office 10018. Purpose: any lawful activity. Adam Properties, Inc., 127 East 59th Purpose: Any lawful activity. of NY (SSNY) on 08/04/10. Office location: NY Co. SSNY designated Street, New York, NY 10022. location: NY County. SSNY designat- as agent of LLC upon whom process Notice of Formation of IND. REV. LLC. Purpose: any lawful activity. Notice of Formation of Chop’t 1285 ed as agent of LLC upon whom against it may be served. SSNY shall Art. of Org. filed with Secy. of State Sixth LLC. Arts of Org. filed with process against it may be served. mail process to the LLC c/o Robinson of NY (SSNY) on 03/12/10. Office NOTICE OF FORMATION of Service Secy. Of State of NY (SSNY) on SSNY shall mail process to Brog Leinwand Greene Genovese location: NY Co. SSNY designated Bar LLC. Arts of Org filed with the 7/20/10. Office location: NY County. Corporation Service Co., 80 State St., & Gluck, PC, Attn: Robert M. Milner, as agent of LLC upon whom process Secy of State of New York (SSNY) on SSNY designated as agent of LLC Albany, NY 12207, regd. agent upon Esq., 1345 Ave of the Americas, 31st against it may be served. SSNY shall 6/28/10. Office location: NY County. upon whom process against it may be whom and at which process may be Fl., New York, NY 10105. Purpose: mail process to the LLC, c/o ICER SSNY designated as an agent upon served. SSNY shall mail process to: served. Purpose: Any lawful activity. any lawful act or activity. Brands, LLC, 1385 Broadway - 16th whom process may be served and the LLC, c/o Chopt, Attn: President, Fl., New York, NY 10018. Purpose: shall mail a copy of any process to: 853 Broadway, Suite 606, NY, NY Notice of Qualification of COHESIVE any lawful act or activity. 3333 Broadway, Apt E17A, NY NY 10003. Purpose: any lawful activity. CAPITAL PARTNERS, L.P. Authority Place your business card in 10031. Principal business address: filed with Secy. of State of NY (SSNY) Crain’s Business Connection NOTICE OF QUALIFICATION OF DT 21 E. 7 St. NY NY 10003. Purpose: Notice of Formation of COPERNICUS on 08/06/10. Office location: NY and reach New York City’s ORTHOPAEDIC INSURANCE any lawful act. SOLAR, LLC. Arts. of Org. filed with County. LP formed in Delaware (DE) AGENCY, LLC. Arts of Application Secy. of State of NY (SSNY) on on 07/06/10. Princ. office of LP: c/o Top Level Executives for Authority filed with the Secy of Notice of Qualification of CIM/46 06/29/10. Office location: NY County. Cohesive Capital (GP), L.P., 650 5th State of New York (SSNY) on E57th St. (NY), LLC. Authority filed Latest date on which the LLC may Ave., 31st Fl., NY, NY 10019. SSNY 4/15/10. N.Y. Office Location: NY with Secy. of State of NY (SSNY) on dissolve is 02/01/2029. SSNY desig- designated as agent of LP upon whom County. LLC formed in DELAWARE 7/8/10. Office location: NY County. nated as agent of LLC upon whom process against it may be served. on 1/19/10. SSNY designated as LLC formed in Delaware (DE) on process against it may be served. SSNY shall mail process to c/o agent of LLC upon process may be 7/2/10. SSNY designated as agent SSNY shall mail process to the LLC, Cohesive Capital Partners, 650 5th served and shall mail a copy of any of LLC upon whom process against c/o Richard T. Carr, Jr., 4705 Center Ave., 31st Fl., NY, NY 10019. Name process to the LLC: 111 Eighth it may be served. SSNY shall mail Blvd., Ste. 3009, Long Island City, and addr. of each general partner are Avenue, New York, NY 10011. The process to: Paracorp Incorporated, NY 11109. The regd. agent of the available from SSNY. DE addr. of LP: Principal Business Address of the 40 E. Division St., Ste. A, Dover, DE company upon whom and at which c/o Corporation Service Co., 2711 Don’t miss Crain’s City Facts LLC is: 110 West Rd, Suite 227, 19901, also the address to be process against the company can be Centerville Rd., Wilmington, DE 19808. Towson, MD 21204. Purpose of LLC: maintained in DE. Arts of Org. filed served is Thomas A. Rice, Esq., Arts. of Org. filed with Secy. of State & Book of Lists! INSURANCE PRODUCER SELLING, with DE Secy. Of State, 401 Federal Hunton & Williams LLP, 200 Park of DE, Dept. of State, Div. of Corps., SOLICITING AND ADMINISTERING St., Ste. 4, Dover, DE 19901. Ave., 53rd Fl., NY, NY 10166. John Townsend Bldg., Dover, DE Let Crain’s New York Business help INSURANCE PROGRAMS. Purpose: any lawful activities. Purpose: Any lawful activity. 19901. Purpose: Any lawful activity. you secure new clients in 2010.

August 16, 2010 | Crain’s New York Business | 17 20100816-NEWS--0018-NAT-CCI-CN_-- 8/13/2010 12:15 PM Page 1

FOR THE RECORD

of their recent transactions appear in these STOCK TRANSACTIONS Europe, exercised options on 39,844 listings should e-mail descriptions shares of common stock at $43.50 on ABOUT THIS SECTION following this format to Following are recent insider transactions at July 30, in a transaction worth FOR THE RECORD is a weekly listing of information from the public record that [email protected], with “Real New York’s largest publicly held companies $1,733,214. On the same day, he sold estate transaction” in the subject line, or filed with the Securities and Exchange 39,594 shares at $64.84, in a transaction can help businesspeople in the New York area find opportunities, potential enter them online at Commission by executives and major worth $2,567,331. He now directly new clients and updates on competitors. crainsnewyork.com/submitadeal. Deals are shareholders. Listings are in order of holds 69,578 shares. To ask questions or get more information on this section, contact Denise listed in order of square footage. transaction value.The information was Southwood at [email protected]. obtained from Thomson Reuters. G MSC Industrial Direct Co. (MSM) COMMERCIAL Mitchell L. Jacobson, chairman, sold G BrainPOP signed a 15-year lease for G Morgan Stanley (MS) 100,000 shares of common stock at 13,000 square feet at 71 W. 23rd St.,a China Investment Corp. sold 9,250,000 prices ranging from $50.35 to $51.04 19-story, 350,000-square-foot office shares of common stock at prices between July 30 and Aug. 2, in a BANKRUPTCIES a.m. on Aug. 31 for a job-order contract building owned by Trustees of the ranging from $27.09 to $27.55 between transaction worth $5,044,729. He now for the Bureau of Water Supply in Masonic Hall. The company will occupy July 29 and Aug. 3, in a transaction directly holds 213,820 shares. The following listings are selected from the Region 2, upstate New York. The work the entire 17th floor. Bill Berkis of worth $252,099,200. It now indirectly most recent available filings by companies will be primarily in Westchester, Winoker Realty Co. negotiated the lease holds 152,382,000 shares. G IAC/InterActiveCorp (IACI) seeking bankruptcy protection in the Putnam and Dutchess counties. For on behalf of the tenant, while Herb Victor A. Kaufman, vice chairman, Southern and Eastern Districts of New more information, contact Greg Hall at Goldberg and David Schlamm of City G International Business Machines Corp. exercised options on 156,237 shares of York. Information was obtained from U.S. (718) 595-3236 or [email protected]. Connections Commercial represented (IBM) common stock at prices ranging from Bankruptcy Court records available on the landlord. The asking rent was $38 R. Franklin Kern III, senior vice $18.06 to $21.87 on July 30, in a Public Access to Court Electronic Records. G Department of Transportation per square foot. president of global business services, transaction worth $3,059,746. On the Listings are in alphabetical order. Seeks competitive sealed bids by 11 a.m. exercised options on 55,235 shares of same day, he sold 156,237 shares at on Sept. 16 for tidal wetland mitigation G Harmony & Friendship Web TV common stock at prices ranging from $25.03, in a transaction worth $3,910,612. G FGIC Corp. of Belt Parkway waterway bridges. An signed a 15-year lease for 10,481 square $97.59 to $104.71 between July 30 and He now directly holds 71,549 shares. 125 Park Ave. optional prebid meeting is scheduled for feet at 885 Second Ave., a 50-story, Aug. 2, in a transaction worth Filed for Chapter 11 bankruptcy Aug. 17 at 10 a.m. at 59 Maiden Lane, 815,000-square-foot building owned by $5,569,808. Between July 30 and Aug. G Goldman Sachs Group Inc. (GS) protection on Aug. 3. The filing cites 36th floor. The contract is subject to Ruben Cos. The company will occupy 3, he sold 89,835 shares at prices ranging Alan M. Cohen, executive vice president estimated liabilities of $100,000,001 to apprenticeship-program requirements. the 48th floor. Roshan Shah and Arkady from $127.92 to $130.51, in a and global head of compliance, sold $500 million and estimated assets of For more information, contact Roly Smolyansky of CB Richard Ellis transaction worth $11,653,705. He now 10,000 shares of common stock at prices $10,000,001 to $50 million. Among Parroco at (212) 839-4649. represented the tenant in the directly holds 955 shares. ranging from $150.00 to $151.08 on creditors with the largest unsecured transaction, while the landlord was July 29, in a transaction worth claims are Wilmington Trust FSB, owed GOODS AND SERVICES represented in-house. The asking rent, G PepsiCo Inc. (PEP) $1,505,420. He now directly holds $345,515,068; and J.P.Morgan Chase G Department of Citywide Administrative according to Mr. Smolyansky, was $60 Albert P.Carey, president and chief 40,391 shares. Bank, owed $46,000,000. Services per square foot. executive of Frito-Lay North America Seeks competitive sealed bids by 10:30 Inc., exercised options on 111,398 shares G Cognizant Technology Solutions Corp. G Natural Surroundings Inc. a.m. on Sept. 1 for a compactor and G Jumeirah Hospitality & Leisure of common stock at $43.50 on July 29, in a (CTSH) 1351 Amsterdam Ave. vibratory asphalt roller. For more (USA) signed a one-year modification transaction worth $4,845,813. On the Steven E. Schwartz, senior vice president, Filed for Chapter 11 bankruptcy information, contact Anna Wong at and extension lease for 6,674 square same day, he sold 111,398 shares at general counsel and secretary, exercised protection on Aug. 2. The filing cites (212) 669-8610 or feet at 1350 Sixth Ave., a 35-story, $65.06, in a transaction worth $7,247,554. options on 20,000 shares of common estimated liabilities of $1,000,001 to [email protected]. 585,156-square-foot building owned He now directly holds 144,556 shares. stock at $5.81 on Aug. 3, in a transaction $10 million and estimated assets of by SL Green Realty Corp. The worth $116,200. On the same day, he $100,001 to $500,000. Among creditors G Department of Health and Mental company will occupy part of the sixth Saad Abdul Latif, chief executive of sold 20,000 shares at $61.21, in a with the largest unsecured claims are the Hygiene floor. Jonathan Schindler of Cassidy PepsiCo Asia, Middle East and Africa, transaction worth $1,224,200. He now Internal Revenue Service, owed Seeks competitive sealed bids by 10 a.m. Turley acted on behalf of the tenant, exercised options on 44,175 shares of directly holds 2,284 shares. $92,289.87; and Viz Plastic Products, on Aug. 31 for district fire alarms. The while Howard Tenenbaum and Gary common stock at $43.50 on July 28, in a owed $44,393.60. contractor must be an NYC-certified Rosen represented SL Green in-house. transaction worth $1,921,613. On the G Citigroup Inc. (C) fire alarm director who is a factory- The asking rent was $58 per square same day, he sold 40,649 shares at $65.40, Stephen Bird, chief executive of Asia- G St. Vincent Milone & O’Sullivan authorized representative for Edward foot. in a transaction worth $2,658,441. He Pacific, sold 300,000 shares of common Advertising Inc. Systems Technology fire-alarm systems. now directly holds 91,300 shares. stock at $4.07 on July 30, in a 13 W. 45th St. The contractor will also furnish all labor, G Education Link signed a seven-year transaction worth $1,221,510. He now Filed for Chapter 7 bankruptcy materials and services necessary, and lease for 5,216 square feet at 28 W. 44th Zein Abdalla, chief executive of PepsiCo directly holds 1,031,770 shares.
protection on July 31. The filing cites must provide fire-alarm-station St., a 22-story, 330,991-square-foot estimated liabilities of $100,001 to monitoring, inspection, maintenance, building owned by SL Green Realty $500,000 and estimated assets of $0 to testing and repair in buildings Corp. The firm will occupy part of the $50,000. Among creditors with the throughout the five boroughs. For more second floor. Scott Bennett from Prime DEALS ROUNDUP largest unsecured claims are Rick and information, contact Amina Velazquez Manhattan Realty acted on behalf of the Teresa St. Vincent, owed $130,000; and at (212) 788-5309 or tenant, while Amy Shustek acted on TRANSACTION SIZE Connecticut Post, owed $53,272.47. [email protected]. behalf SL Green in-house. The asking COMPANY (IN MILLIONS) BUYERS/INVESTORS TRANSACTION TYPE rent was $58 per square foot. G Ten’s Cabaret Inc. G Department of Parks and Recreation Dragados Servicios $957.3 J.P. Morgan Asset SB M&A 35 E. 21st St. Seeks competitive sealed bids by 3 p.m. G Kota Group Holdings signed a five- Portuarios y Logisticos Management (Manhattan) Spanish assets Filed for Chapter 11 bankruptcy on Aug. 20 for towing and installation of year lease for 5,180 square feet at 317 protection on Aug. 3.The filing cites a floating pool. For more information, Madison Ave., a 23-story, 485,461- Milestone Aviation $500.0 Nautic Partners, The Jordan GCI Group Ltd. Co. (Manhattan) estimated liabilities of $1,000,001 to $10 contact Harold Wilson at square-foot building owned by SL million and estimated assets of $50,001 to (212) 830-7964 or Green Realty Corp. The firm will Liberty Acquisition $400.0 HSBC Bank, Berggruen GCI $100,000. Among creditors with the [email protected]. occupy a portion of the 12th floor. Holdings Corp. (Manhattan) Acquisition Holdings Ltd. (Manhattan), Centaurus Capital, Tyrus Capital largest unsecured claims are Centaur Both the tenant and the landlord Properties, owed $859,758.03; and Alonso G Health and Hospitals Corp., Bellevue negotiated the terms of the deal in- Old Mutual U.S. $350.0 Harbinger Capital Partners SB M&A Andalkar & Kahn, owed $204,975.59. Hospital Center house. The asking rent was $45 per Life Holdings Inc. (Manhattan) Seeks competitive sealed bids by 3:30 square foot. Newsweek Inc. (Manhattan) $142.0 Individual investor SB M&A p.m. on Aug. 13 for maintenance Arena Pharmaceuticals Inc. $60.0 Deerfield Management Co. GCI GOVERNMENT CONTRACT services for printing equipment. For RETAIL (Manhattan), Deerfield Capital OPPORTUNITIES more information, contact Ivan Rawls at G Duane Reade signed a 20-year lease (Manhattan) (212) 562-2552 or [email protected]. for 23,310 square feet at 40 Wall St.,a Bay Commercial Bank $30.0 Jacobs Asset Management GCI Following are selected contract 72-story landmark office tower owned (Manhattan) opportunities recently announced by New G Health and Hospitals Corp., Lincoln by the Trump Organization. The drug 514,000-square-foot $27.5 Lexington Realty Trust SB M&A York City agencies.To learn how to sell Hospital Center store will occupy two floors of the industrial facility, (Manhattan) goods and services to city government, visit Seeks competitive sealed bids by 3 p.m. building. Jeff Winick of Winick Realty Mississippi www.nyc.gov/selltonyc. For a searchable on Aug. 19 for a Topcon TRC-NW8 Group represented the tenant in the Accedian Networks Inc. $19.5 Rho Capital Partners Inc. GCI database of current procurement notices, nonhydrinatic retinal camera. For more transaction, while Eric Gelber, Andrew (Manhattan), Summit Partners, visit www.nyc.gov/cityrecord. Listings are information, contact Yolanda Johnson at Goldberg and Matt Chmielecki of CB Skypoint Capital Corp. alphabetical by category and department. (718) 579-5687 or Richard Ellis negotiated on behalf of the Ozsale $13.3 Insight Venture Partners GCI [email protected]. landlord. The asking rent was not (Manhattan) CONSTRUCTION available. Red Beacon Inc. $7.4 Mayfield Fund, Venrock GCI G Department of Design and Construction G Triborough Bridge and Tunnel Authority (Manhattan) Seeks competitive sealed bids by 11 a.m. Seeks competitive sealed bids by 3 p.m. G Staples signed a 15-year lease for GRIT International Inc. $6.7 LeadDOG Capital Markets GCI on Sept. 2 for reconstruction of on Aug. 18 for Pelco Spectra 4 cameras 12,000 square feet at 675 Third Ave.,a (Manhattan) collapsed or otherwise defective sanitary, and an IFS video-fiber transmitter. For 32-story building owned by The Durst Advanced Commerce $4.3 Not disclosed GCI storm and combined vitrified clay pipe more information, contact Victoria Organization. The company will occupy Strategies Inc. (Manhattan) sewers in the Bronx. Apprenticeship- Warren at (646) 252-6101 or part of the ground and second floors. Helios & Matheson $2.0 Helios & Matheson Information GCI participation requirements apply to this [email protected]. Staples was represented by Chase Welles North America Inc. (Manhattan) Technology Ltd. contract. For more information, contact of Northwest Atlantic, while John Selected deals announced for the week ended Aug. 7 involving companies in metro New York. Ben Perrone at (718) 391-2614. Grotto negotiated on behalf of the GCI: Growth capital investment represents new money invested in a company for a minority REAL ESTATE DEALS landlord in-house. Asking rents were stake. SB M&A: Strategic buyer M&A represents a minority or majority acquisition of existing G Department of Environmental Protection $195 per square foot for the ground floor shares of a company without the participation of a financial buyer. source: capitaliq Seeks competitive sealed bids by 11:30 Companies that would like to have details and $52 per square foot for the second.

18 | Crain’s New York Business | August 16, 2010 20100816-NEWS--0019-NAT-CCI-CN_-- 8/13/2010 8:07 PM Page 1

many find it impossible to splurge if a friend loses a job, they find out to the back-to-school market is of- $90 on denim at Abercrombie or about it through Facebook.” fering its own version. Begging for jeggings Hollister,or even to find $20 for a T- But when teens do decide to “The messages on the bottom shirt at Aéropostale, when they can open their wallets, trendy togs are are skinny and straight, and the jeg- Continued from Page 3 is still controlling those purchasing simply wear a similar style from last waiting for them on store shelves. ging offers a comfortable version of addition, clothes-shopping for decisions.” year.What’s more,experts credit the This fall’s hottest looks are most- that,” says Kathy Bradley-Riley, teens is on the wane.U.S.sales of ap- Part of the dilemma is that teens, increased exposure from social-net- ly a variation on prior years—prints senior vice president of merchan- parel for 13- to 17-year-olds fell 6%, along with their parents, have less working sites like Facebook and are bolder, bottoms are skinnier. dising at trend forecaster The Do- to $25 billion, for the 12 months money to spend. The unemploy- Twitter with giving teens an acute Plaid shirts, cardigan sweaters, jeg- neger Group, who calls the plaid ended in June compared with the ment rate for those aged 16 to 19 in awareness of the financial turmoil of gings and military-styled cargo pants and denim combination an “into year earlier, according to market re- the Big Apple was more than 33% the last two years. are all key items among teenagers’ the woods” look. search company NPD Group Inc. for the 12 months ended in June,ac- “This consumer, more than any wardrobes this year. While jeggings But the look most metro retailers “The consumer remains fickle,” cording to the New York State De- other teen before them, feels the emerged on the fringes last summer, really desire this back-to-school says Lisa Walters, principal at con- partment of Labor. economic impact of this recession,” they gained speed over the holidays, season is simply to end up in the sultancy Retail Eye Partners.“Mom And with no cash coming in, says Mr. Beder. “They’re wired in— and now nearly every retailer catering black.

likely to be in favor of such a co-op conversion. In fact, the tenant asso- Vying AG wannabes Upstart at Stuy Town ciation itself explored the idea of conversions as part of its own plan to Continued from Page 1 Realpoint,a credit rating firm.“And buy the complex a few years ago. Continued from Page 1 in contrast, tend to be attacked, and succeeds, he intends to assume the Pershing/Winthrop sees value in “We continue to look at the pos- overstatement. More than a year af- Ms. Rice has been criticized for her complex’s nearly $4.5 billion in Stuy Town.” sibility of buying and hope to make ter it began,it’s barely off the ground. purported contradictory position debts and quickly begin a voluntary, Several recent deals suggest that it reality,” says Al Doyle, president “A very important job is essen- on the Rockefeller drug laws, her noneviction co-op conversion on the partner’s chosen route to owner- of the association. tially being overlooked,” says Mau- failure to vote for 20 years, her for- the rental property to generate cash ship may work. Most famously, just Any move to turn affordable rice Carroll, director of the Quin- mer Republican party affiliation to pay off its loans. last year New England’s tallest rentals into co-ops, however, is like- nipiac University Polling Institute. and her “electronic stop-and-frisk” The audacious move comes eight building, the 60-story John Han- ly to face stiff political opposition.In “Look what happened to the last two program in Nassau County, as Mr. months after developer Tishman cock Tower in Boston, was bought addition, Mr. Ackman’s plan could of them. One became governor, and Brodsky calls her practice of photo- Speyer and financial powerhouse by a partnership that had snapped be unstrung by CW Capital, which the other very well might.” graphing license plates and sending BlackRock Inc.,which paid $5.4 bil- up the mezzanine debt and put the is in the process of foreclosing on the But there is no free-spending letters to nonlocal drivers. lion for the complex in 2006,default- property into foreclosure. At the property itself.At the very least,Mr. Eliot Spitzer or famous son Andrew The other contenders have run ed on their $3 billion mortgage and auction, the partnership won the Ackman would need to get CW to Cuomo in this race. Instead of bold- into problems as well. Mr. Brodsky handed the keys over to the lenders. tower with a bid of $20 million and agree to restructure the $3 billion face names, there are two state legis- raised only $519,000 in the first six Tishman Speyer had intended to an agreement to take on its $640 first mortgage, by either reducing or lators, a district attorney, a private months of the year and had less than deregulate Stuy Town’s 11,000 apart- million first mortgage. extending it.CW could also move to lawyer and a former Spitzer deputy $1.6 million on hand in mid-July. ments and raise rents to pay off its Similarly, in New York, W block Pershing’s efforts in court, es- who has never run for office. Mr. Schneiderman was accused of a debt. The recession put that far be- Union Square Hotel, 100 Church pecially if it doubts the co-op con- Despite the public’s ignorance of “hit and run” by NY1 after his cam- hind schedule even before it was to- St.and several other properties have version plan would work. the race—which will dissipate as can- paign vehicle bumped the parked tally derailed in 2009 by a court rul- been successfully foreclosed on by Meanwhile, some groups—in- didates’ commercials flood the air- car of a station employee and drove ing that barred the deregulation. their mezzanine lenders. cluding a team consisting of financier waves in the coming weeks—the off. Mr. Coffey, who has lent his Out of cash,Tishman Speyer was “This trend will continue as Wilbur Ross and the LeFrak Orga- chattering class of New York politics campaign $3.15 million, ran early forced to transfer the property to more troubled assets hit the fan,” nization—say they are interested in watchers has been fascinated by its television ads that failed to improve CW Capital, a so-called special ser- says Edward Hunter, chair of the buying the property. dynamics and unpredictability. Nas- his poll numbers and had his past vicer that represents the interests of real estate practice group at law firm Nevertheless, Mr. Ackman ap- sau County District Attorney Kath- political donations scrutinized in a the holders of the first mortgage— Lowenstein Sandler. pears to have a key advantage. If the leen Rice narrowly leads in the polls, Wall Street Journal story about pay- various financial institutions. Since Stuy Town,however,would be by foreclosure auction is held, he can but 74% of voters were undecided to-play. Mr. Dinallo is short on then,everything had been at a stand- far the largest and most complex open with a bid of $300 million, the even when Quinnipiac divulged the money and institutional support, a still until Pershing Square and its case in terms of value and the sheer face value of his mezzanine debt. names of the candidates.In a primary big handicap in a low-turnout race. well-known chief executive entered number of creditors desperate to Other bidders will have to pony up when turnout will be minuscule be- the picture, raising hopes that some salvage their investment. Mr. Ack- $300 million in cash for a property cause of a paucity of attention-grab- Staggering incompetence solution can be found. man hopes to work with CW Cap- now estimated to be worth a mere bing contests, anyone could win.The “on the part of all of these cam- “It’s in everyone’s best interest to ital to restructure the loan, in return $1.8 billion. In addition, the first Democratic nominee will face Staten paigns,there’s a staggering degree of bring this to a close and bring a new for providing a plausible plan to pay notice of the auction appeared in the Island District Attorney Daniel incompetence,”says one consultant. borrower in with a plan,” says Steve back creditors by selling off apart- papers on Aug. 8, giving bidders lit- Donovan in November. The candidates themselves, Kuritz, senior managing director at ments as co-ops. Many tenants are tle time to get their act together.
Four of the five Democratic can- though, have impressive strengths. didates have essentially quit their Ms. Rice, at 45 the youngest of the jobs to run: Assemblyman Richard bunch, has racked up endorsements in the area—which effectively dou- Brodsky and state Sen. Eric Schnei- and $4.4 million in donations Culture wilts at WTC bled its annual operating costs derman are not seeking re-election (though some cannot be used in the overnight—but then cut back on after a combined 40 years in the Leg- primary) to take the lead over rivals other contributions, leaving the islature.Sean Coffey retired from his with longer résumés.Mr.Schneider- Continued from Page 3 leased $50 million to construct the group to fend for itself. law firm after earning a fortune in man has won key union and political [by using arts organizations] to cre- underpinnings for the center. 3-Legged Dog is in a similar class-action lawsuits. Eric Dinallo support and should benefit from ate jobs and truly serve as an eco- That move has given officials at bind.It has been fighting eviction by quit as superintendent of the state higher-than-average turnout in nomic development tool.” the Joyce fresh hope, but they re- the Metropolitan Transportation Insurance Department in May 2009 Manhattan. Mr. Brodsky “has been Cultural groups across the city main cautious. Authority, which owns the building to seek the seat, which Mr. Cuomo in the news, it seems, forever,” says have struggled during the recession. “We believe the center will be in which it rents space. The two is vacating to run for governor. Mr.Carroll,and got 5% in the Quin- But those in lower Manhattan have built,but we don’t know when,so we sides are close to finalizing a deal in “It’s an interesting field,”says po- nipiac poll, second to Ms. Rice’s been hit especially hard. Some arts need to be prepared,” says Linda which the group would resume rent litical consultant Gerry O’Brien, 11%. Mr. Coffey,whose military ca- executives blame all the building go- Shelton, executive director of the payments in October, after the who is not working for any of the reer should resonate with upstate ing on downtown, which has isolat- Joyce, whose current lease in MTA reduces the amount of arrears. campaigns. “Schneiderman and voters, has come from nowhere to ed the area. Chelsea expires in 2016. Kevin Cunningham, the organi- Rice appear to be the two front-run- emerge as a threat. Mr. Dinallo’s in- “There is construction every- To play it safe, the Joyce is trying zation’s artistic executive director, ners, but you’ve got Sean Coffey and tellectual star has risen, and he is a where down here, and a lot of the to extend that lease. It has also re- says it’s tough for small arts organi- Brodsky, who are formidable candi- frequent guest on CNBC. subway service has been cut on the tained a broker to scout out sites for zations like his to operate in lower dates.”Mr.Dinallo was last in Quin- But a month from the Sept. 14 weekends,” says Ivy Barsky, deputy a new home,The New York Times re- Manhattan because of the outsize nipiac’s poll with 2% and has just primary,none has emerged from the director of the Museum of Jewish ported earlier this month. presence of vast, difficult-to-deal- $1.7 million in his campaign fund, pack. In such an open race, the win- Heritage on Battery Place. Other groups are facing worse with bureaucracies, such as the but could see a boost in those num- ner will be the candidate who gener- Of course, not all the news about threats than uncertainty. Dance MTA and the Port Authority of bers from newspaper endorsements. ates momentum in the next few cultural organizations downtown is New Amsterdam, the first arts or- New York & New Jersey. Having helped Mr.Spitzer bring the weeks with advertisements and the bad.The nine-year-old Tribeca Film ganization to move to lower Man- The city insists that it’s doing all attorney general’s office to national kind of endorsements that spur cam- Festival, for example, is thriving. hattan after Sept. 11, is being sued it can. prominence with innovative,aggres- paign donations. And although the much-anticipated for rent arrears of more than “The city actively supports pro- sive lawyering as his top deputy, Mr. “They’re all running around look- World Trade Center performing arts $500,000; it’s now in negotiations gramming and capital projects for Dinallo has been praised by his rivals ing for that hook,that issue,that’s go- center has been downsized and de- with its landlord. cultural organizations in lower at debates this summer. ing to translate into voter awareness,” layed, the project is still alive and DNA Executive Director Kate Manhattan,” says Margaret Mor- Their kind words, however, be- says Mr. O’Brien, “because the aver- kicking. In fact, the Lower Manhat- Peila complains that the city funded ton, deputy commissioner of the tray their belief that he lacks the po- age Democrat has no idea there’s a tan Development Corp. recently re- the group’s move into larger quarters Department of Cultural Affairs.
litical skills to win. Front-runners, primary in 30 days.”

August 16, 2010 | Crain’s New York Business | 19 20100816-NEWS--0020-NAT-CCI-CN_-- 8/13/2010 8:08 PM Page 1

BACK- Catapulting publishing into future SCRATCHING: Publishing veteran Jane Friedman is Continued from Page 1 Though there are cost savings on sic authors like Herman Melville dipping into “The world is changing, and production and distribution with e- and Joseph Conrad to contempo- backlists for her e-book venture. publishing has to change with it,” books, the biggest expense for most raries like Jonathan Franzen and says the new chief executive. titles—print or digital—is the au- Cormac McCarthy and commercial In fact, the industry is being thor’s advance. heavyweights like Mr. Patterson. shaken to its core in ways no execu- Mr. Young also argues that book- Topical books and those in niche tive has ever seen. Since the launch stores—both the chains and the in- categories like fitness, business and of Amazon’s Kindle e-reader in dependents—serve as centers of health do well with online market- 2007,the traditionally slow-moving their communities, and will not go ing. But authors who need nurtur- book industry has gone into hyper- the way of Tower Records.“The book ing depend on bookstores. drive—racing head-on into the dig- is a much more robust and institu- Independent bookstores in par- ital disruption that has already dec- tional object than the CD,” he adds. ticular have acted as curators and imated major record labels and But like every other publisher, showcases of new titles,even as their newspaper companies. Mr. Young acknowledges that e- numbers have dwindled. The books’ lower prices could bring in- American Booksellers Association, dustry restructurings and consolida- the indies’trade group,currently has Final nail in coffin tion down the road, and he is 1,409 members, compared with apple’s ipad, Barnes & Noble’s investing millions of Hachette’s dol- 2,861 in 2000. Nook and new iterations of the Kin- lars in a digital publishing program. “You find things here you won’t dle have accelerated the e-book rev- “It would be foolish to think that see anywhere else,” says Bob Con- olution,which is undermining tradi- every publisher can deliver the same tant, co-owner of the St. Mark’s tional publishing’s economics with bottom line when the physical Bookshop, one of the oldest indies lower prices than those for hardcov- bookstore shrinks,” he says. “I very left in Manhattan. er books. It’s also threatening the much hope that won’t happen fast, Mr. Contant, who has run St. foundation of the business:the hum- and I don’t think it will, but it’s part Mark’s since 1977, remembers the ble brick-and-mortar bookstore. of our job to figure out how to con- days when sales grew 40% a year and Several weeks ago,Barnes & No- tinue to be a commercial enter- the store—at a smaller location than ble, the largest bookstore chain, did prise.” its current one—would be so crowd- the unthinkable and put itself up for Publishing insiders say that a ed on a Saturday night that patrons sale.Independent bookstores,whose number of houses are already feeling had to wait outside until there was ranks have diminished by about half the pain. room to come in. since 2000, continue to close. Whether it’s because of the The economy, gentrification of

The end of bookstores could be economy,reader fatigue or the surge the East Village, and now e-books buck ennis the final nail in the coffin for tradi- in e-book sales for commercial ti- have put an end to growth.This year, tional publishing. The big trade tles, hardcover sales have been sales are down 3%, and Mr. Contant ticements like free coffee and exclu- authors—albeit those published houses rely on acres of shelves to sell falling steadily for many blockbuster says they never fully recovered from sive e-content. Though still a dis- prior to 1994, when e-book rights their wide-ranging titles,from liter- the downturn at the end of 2008. tant second to Amazon,the Barnes- clauses became standard in con- ary and commercial fiction to non- But he and the store’s longtime andnoble.com e-bookstore has tracts. In less than a year, she’s fiction that doesn’t have a news hook ‘It’s our job to manager, Michael Russo, say that grown its market share into the mid- brought on works by William Sty- or a celebrity’s name on the cover. St. Mark’s remains influential.They to high teens, according to several ron, Iris Murdoch and Pat Conroy. And the end could come sooner figure out how to cite the British author of postmod- big publishers. than many people think. E-book ern novels David Mitchell, whose But as the digital explosion blows sales have tripled in the past year,and be a commercial books they’ve been championing up the traditional publishing mod- Seeking out the new now make up 8.5% of publishers’ since his 1999 debut,and whose lat- el, observers say that nobody knows their books are coming out in revenue.They’ll hit 50% by 2015,ac- enterprise’ est, The Thousand Autumns of Jacob where the pieces will land. Mr. what Ms. Friedman calls “enriched cording to Mike Shatzkin, chief ex- de Zoet, is currently among their top Young may end up running a much editions” that make use of the pro- ecutive of The Idea Logical Co. sellers. bigger company—or find himself duction savvy of Open Road’s other At that point, the few stores left The author recently visited the out of a job. First-time writers may co-founder, movie producer Jeffrey standing will sell just a quarter of all store to sign copies of the book, be publishing themselves,or signing Sharp. Among the added features physical books, down from around which is his fifth novel and the first on with startups struggling to create are archival photos and video inter- three-quarters today, and big pub- novelists. to make it onto The New York Times’ or tap into online communities. views viewable on an iPad. lishers will “come under threat,” he Through May, overall net sales best-seller list. He has come there What’s certain is that the indus- Ms. Friedman is betting that says. “Their value is based on deliv- for hardcover books totaled $713 for every one of his last four books. try will continue its reinvention, enough consumers will pay $10 to ering distribution.” million—a bump over last year’s “Websites and chain stores can piece by piece. $14 for titles like Mr. Styron’s Lie Publishers of all stripes are grap- numbers but a decline of 19% from make big pyramids of books, but to In September,acclaimed novelist Down in Darkness to cover the costs pling with these issues.But they also the same period in 2007, according make an enduring book of quality, Dale Peck, 43, will launch a literary of marketing and production. But insist that reports of their death have to the Association of American nobody has found a way to replace imprint with the year-old startup she says she doesn’t need to sell huge been greatly exaggerated. Publishers. independent booksellers,” Mr. Rus- OR Books, which sells digital and numbers. “We are not an endangered “The hope is that e-book sales so says. print-on-demand edi- As a digital publisher, species, though I’m completely will balance out the decline in phys- tions directly to con- Open Road doesn’t have aware we need to evolve further,” ical book sales,” says Jack Perry, a sumers, cutting out the bookstores returning un- says David Young,chief executive of former Random House sales chief Beating the trends retailer. 50% sold copies.And though it the Hachette Book Group. who consults on digital issues for mr.contant says he hopes to hold He and a group of E-BOOKsales offers a profit split, it The 59-year-old transplanted publishers. “That hasn’t happened on by continuing to provide “an al- writer friends will put out are expected to doesn’t pay advances. Londoner presides over the most yet.” ternative to mass culture” with a se- six books a year, starting account for half What’s more, Open consistently successful of the six ma- The pressure on publishers is lection that’s rich in both major with authors they believe of all book sales Road has become the on- jor publishing houses, so his opti- making them less inclined to take publisher releases and obscure small are well-known enough by 2015 line marketer for other mism is understandable. Helped by risks. Agents and publishing execu- press titles.He points to vinyl record to attract attention online publishers, including blockbuster authors like James Pat- tives complain that houses are fo- stores and the nearby indie Other and achieve sales of 5,000 Kensington Books, which terson, Stephenie Meyer and The cused more than ever on acquiring Music as examples of retailers to 15,000 copies—subpar by trade will give the company close to 1,000 New Yorker’s Malcolm Gladwell, the biggest, safest, most easily pro- who’ve beaten the trends. house standards,but a good showing titles in all to start with, including a Hachette had U.S.sales of $740 mil- motable titles. He’s hardly the only bookseller for a literary title.The first book,due small group of e-originals. The lion in 2009, according to Publishers “The recession and the digital hoping to defy the odds. Barnes & in November, will be The Autobiog- company gets a piece of the sale of Weekly, marking its third year in a transformation have just accelerated Noble Chairman Len Riggio says raphy of Jenny X, by Lisa Dierbeck. each one. row of double-digit growth. what’s been happening in the busi- that he’s exploring a sale of the com- The imprint, Mischief and May- Open Road’s full online market- Mr.Young insists that the indus- ness for the past 15 years, which is pany because its stock price is un- hem,will also launch a monthly web- ing powers will be unleashed in the try’s changes won’t be putting him that publishers are feeling that a dervalued in the current climate. zine in September.“Literary fiction is fall, Ms. Friedman says. From her out of business any time soon. Sit- book has to be a big book or it’s not Both Mr. Riggio and Chief Execu- just increasingly difficult for anyone small corner of the publishing world, ting in an office where shiny new worth publishing,” says Brian De- tive William Lynch say that the to make money at,” Mr. Peck says. she says the opportunities are huge. hardcovers lie in long rows behind Fiore, who heads his own literary chain will benefit from brick-and- Since OR offers a profit split,he adds, “We have world rights to [some him,he notes that book sales,unlike agency. mortar bookstore consolidation. writers should come out ahead of of ] these titles, and I’ve had many music sales, have not been devastat- Even more troubling is the At the same time, Barnes & No- where they’d be with a major house. international visitors in this office,” ed by piracy. Consumers are paying prospect of a book universe with no ble is betting on digital growth and Meanwhile, Ms. Friedman is us- she says, noting that 50 million for e-books, even if publishers make mechanisms for developing new au- the company’s ability to use the ing her high profile and reputation tablet devices are expected to be sold less money from them than from thors. There’s a long list of major stores to market the Nook—and as a hard-charging marketer to build internationally by 2014.“I’m betting hardcovers. writers who started small,from clas- bring Nook owners back with en- a list of celebrated titles by famous on a very successful future.”

20 | Crain’s New York Business | August 16, 2010 20100816-NEWS--0021-NAT-CCI-CN_-- 8/13/2010 12:14 PM Page 1

State, local government employment declined for 17 of the past 23 months Source: Nelson A. Rockefeller Institute BUSINESS LIVES of Government, SUNY Albany HOT JOBS EXECUTIVE INBOX

ASSOCIATE DIRECTOR Anne Fisher ORGANIZATION Mount Sinai Medical Center Turn unpaid SPIN CYCLE: Claudio JOB DESCRIPTION Improve donor- Arellano says his job invoices into hospital relations, expand major keeps him feeling gifts, raise funds for Heart Institute young. cash—quickly MOST IMPORTANT TASKS Create IN MAY 2009, Matt Minoff had a events for major donors and problem. He had just signed on prospects; develop, write and as chief executive of Nabbr, a present proposals to solicit funds fast-growing video company that CREDENTIALS NEEDED Bachelor’s distributes advertising via online degree, six years of fundraising or social networks. The trouble was related experience that recession-battered agencies “started pushing out their SALARY At least $100,000, payments, from 30 days to 60 according to industry experts days or even 120 days,” Mr. RECRUITER Mount Sinai Minoff recalls. “But we still had to Development pay our bills on time.” DOWNSIDE Challenge of meeting Then a former colleague at fiscal goals during recession Allen & Co., where Mr. Minoff had worked as an investment UPSIDE Help improve health care banker, suggested he try The options for New Yorkers and sus- Receivables Exchange. “The first tain medical education invoices we put up for sale Mount Sinai Hospital was founded enabled us to make payroll that in 1852 and is one of the oldest week,” Mr. Minoff says. and largest voluntary teaching hos- The Receivables Exchange is pitals. It excels in clinical care, a trading forum for small education and scientific research. companies’ accounts receivable. —RACHEL WEXLER After registering on the website, business owners can put their outstanding invoices up for auction. Institutional investors EXECUTIVE MOVES then buy the receivables and eventually collect on them, New York Life advancing most of the cash to Insurance Co.: John Y. the seller. Small businesses pay Kim, 49, will be promoted to chief a fee averaging about 1.5%. investment officer at What’s in it for the investors? the end of the year, About 50% of the $12 trillion and will retain his role annually owed to small as executive vice businesses is due from Fortune president. He is currently president and GOTHAM GIGS 500 companies, so the big chief executive of New York Life Investments, a wholly owned companies that buy the invoices investment-management subsidiary. aren’t taking much risk, and Pryor Cashman: Lawrence A. Spector, 51, they stand to make the fee. “To joined the law firm’s corporate group as date, we’ve never had an investor a partner. He was most recently a lose money,” says Justin Brown- partner at Lowenstein Sandler. Merry-Go-Round hill, chief executive of the New Time Warner Cable: Tom Valasek, 44, Orleans-based firm, which has joined the cable operator’s media sales team as vice president of business claudio arellano moved to the United States from Chile 11 years ago in search of a an office on Madison Avenue. development. He was previously an better economic future, leaving behind his ex-wife and teenage son and daughter. He A typical auction works like executive director at Rusnak Auto misses his kids so much that it hurts him to talk about them. ¶ But his job operating this: A small business posts Group. $100,000 worth of bundled Everyday Health Inc.: the new carousel in Hudson River Park helps lift his spirits. “You get to stand right invoices with terms of a 90% Goli Sheikholeslami, there inside the carousel and see how the kids see the world,” Mr. Arellano says. ¶ The advance and a 1.5% 30-day 42, joined the health information website as carousel, which opened in May, boasts 33 hand-carved wooden figures like harbor seals discount. The auction closes at chief product officer, a and unicorns. Although the famous one in Central Park is bigger, Mr. Arellano turns those terms. The next business newly created day, the seller gets funded the position. She was his $2 ride on Pier 62 into a major party. Instead of the typical classical music, the 38- $90K. When the customers pay, formerly vice year-old plays songs from Justin Bieber and The Beatles. He asks the children their the buyer is made whole and president and general manager of the names and where they’re from. If it’s someone’s birthday, everyone sings. ¶ Mr. funded back the $90K plus the digital division at The Washington Post. Jefferies: Michael S. Rintoul, 44, was Arellano sold hot dogs in The Javits Center for carousel owner United Snacks before $1,500 fee. The seller gets the named managing director and head of he moved on to his current post. He now works a 13-hour shift, six days a week. With balance due, $8,500 in this case. business services investment banking. He was most recently at UBS, where he only about six carousels operating in New York City, Mr. Arellano knows he has a good ARE YOUR DEBTORS slower to pay served as a managing director and global gig. “I feel happy here,” he says. their bills? Tell us at www.crains

See EXECUTIVE MOVES on Page 22 —miriam kreinin souccar buck ennis newyork.com/execinbox.

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RÉSUMÉ REVIEW No laughing matter Is your job search all it could be? We ask the experts. NY Comedy Festival, How did the festival come about? I’m not seeing as much as in the past NAME EDWARD VOISICH JR. A number of years ago, I did a 20th- two years. I don’t know if the tourist SUMMARY TV projects keep anniversary special at Carnegie Hall business is down, or maybe people hosted by Lewis Black,and we called aren’t coming in as much from the Senior manager and community relations club owner going back a bunch of people who had five boroughs and the tristate area. executive seeking public relations or worked at the club over the years and marketing position presented this great show. People What’s next for you? PROFESSIONAL EXPERIENCE BY CARL GAINES came up to me afterward and said, I’m working on a documentary about  ‘Oh my God, this is one of the fun- comedians and a reality show. I have New York City Department of Design and Construction, 2004-present aroline hirsch, founder niest shows I’ve ever seen—I’ve nev- a book project in the works and a Assistant commissioner of operations and facilities management: of comedy club Carolines er laughed so hard.’And it was out of show called If Women Ran the World. Supervise, manage performance of employees in administrative units  on Broadway, has been that that we created this festival. We’re also doing something called NYC DDC, 1997-2004 nurturing talent,from Jer- Comics to Watch.We’re Deputy agency chief contracting officer: Supervised professional and Cry Seinfeld to Jon Stewart, since the You’ve been in this business a long time. going to select eight clerical employees in the procurement of contracts for capital projects early 1980s. In 2004, she founded What has changed the most? to 10 comedians that  New York City Department of Housing Preservation & Development, the New York Comedy Festival. As I think where it’s available. Com- we think are ready 1995-1997 the festival prepares for its Nov. 3 edy is now available 24/7—on to explode. That’s Director, bureau of maintenance and procurement: Supervised small run with a TV, online, the radio. More the first time we’re purchase procurement of maintenance and construction services for lineup includ- morning shows try to be funny. doing that at Car- 30,000 work orders per year ing Rosie Comedy has become a big busi- olines with EDUCATION O’Donnell, ness, and I’ve watched it ex- Comedy Cen-  MOVERS & Margaret Cho plode. Everybody now is looking tral.
Cornell University, B.A., Labor Studies SHAKERS and Joel for that great comedy movie, sit- Résumé appears in condensed form. McHale, Ms. com or viral video. EXPERT ADVICE Caroline Hirsch spoke Edward can improve the readability of his résumé by converting sentence- with Crain’s Where do you think the business based job descriptions into short, concise bullets. Adding the value he Hirsch about the in- is going? brought to each part of his job will make it much easier for employers to dustry’s fu- More online, I believe, only ture—and her because the convergence will visualize him as a noteworthy candidate. Edward rightly emphasized his own. happen online.That monitor recent positions and can leave off his experience prior to 1989. Including we now call our computer a section for relevant certifications would be a strong complement to a What do you look for when you’re book- will also be our TV.And now tightly edited résumé that’s easy to read and understand. ing the festival? the little webisodes are cre- These are all people who have come ating ideas for TV shows. —jaques aboaf, senior director, recruitment marketing, Vault.com out of the Carolines world of come- It’s a great way for comedy To contact this candidate or to be featured in “Résumé Review,” e-mail us dy at the club, and now we’ve pre- to permeate. at [email protected]. sented them in larger venues. I al- ways look for quality and diversity, What has your business been so there’s something for everyone. like this summer?

EXECUTIVE MOVES services for the homeless. He was law firm’s executive compensation, was previously digital director for firm. He was formerly the East region previously senior vice president at FEGS benefits and employment law group. WWD. managing partner of the tax practice. Health and Human Services System. Jamaica Center for Arts & Learning: LeClairRyan: Stephen I. Crowell & Moring: Kelly Continued from Page 21 HealthCare Chaplaincy: Claire Haaga Philip Willis, 55, was appointed Siller, 61, joined the T. Currie, 46, joined head of technology services investment Altman, 61, was promoted to executive executive director at the arts and culture law firm as a the law firm as a banking. vice president and chief operating nonprofit. Previously, he served as shareholder and partner. He most Bank of America Merrill officer at the medical care and executive director of Opus 118 Harlem member of the recently served as Lynch: Steven Kenny, multifaith spirituality nonprofit. She School of Music. corporate services deputy chief of the 46, was promoted to previously served as senior vice Seyfarth Shaw: John D. Roesser, 39, joined practice area team. He criminal division of commercial real estate president for innovation and the law firm as a partner in the litigation was previously chief the United States banking regional development. department. He was previously a senior executive and senior Attorney’s Office for executive for the states Cooley: Ian B. Blumenstein, 46, joined the associate at Proskauer Rose. partner at Siller Wilk, which he the Eastern District of New York. of New York and New law firm as a partner. He was formerly a Fleishman-Hillard International founded. The Nielsen Co.: Ari Paparo, 39, joined Jersey. He most partner at Proskauer Rose. Communications: Stephanie Marchesi, BTIG: Jeff Growney, 49, joined the the information and media company as recently served as MediZine: Michael Cunnion, 39, was 46, joined the strategic broker-dealer as a managing director in executive vice president of global media senior client manager for commercial promoted to chief executive at the communications firm as managing the fixed-income high-yield sales team. products. He was formerly group real estate banking in the metro New consumer health and wellness director and senior partner of global He was formerly a managing director of product manager of advertiser products York region. information company. He most recently integrated marketing communications, high-yield ad-distressed sales at at Google. Project Renewal: Mitchell Netburn, 55, served as president. a newly created position. She was Imperial Capital. Amit Seth, 39, joined as executive vice was named president and chief executive White & Case: Mark Hamilton, 44, was previously head of Cohn & Wolfe’s PricewaterhouseCoopers: Stephen president of global media products. He at the nonprofit provider of social promoted to partner from counsel in the New York office. McGivney, 52, was named principal in was previously executive in residence at CB Richard Ellis: the global human resources services PlugandPlay Tech Center. Stephen Eynon, 40, practice. He was formerly executive vice Raich Ende Malter & Co.: Victoria CORPORATE LADDER joined the commercial president and Northeast regional Pellegrino, 52, joined the accounting and real estate services firm director at Aon Consulting Inc. advisory firm as a partner in charge of as a senior vice CTPartners: Debbie Kemp, 51, joined the the financial services practice. She was AD EXEC TO HEAD TRADE ASSOCIATION president. Previously, executive search firm as vice president of formerly chief financial officer at Moon LAWRENCE M. KIMMEL, 53, was named chief executive of the he served as a senior human resources. She was most recently Capital Management. Trinity Wall Street: Direct Marketing Association, a trade group that supports vice president at Jones at Heidrick & Struggles, where she Lang LaSalle. served as North America vice president Julian J. Wachner, 40, industry standards for responsible marketing practices. BlueCava: Dean Harris, 60, was named of human resources. joined the faith and Mr. Kimmel has spent his career in the digital chief marketing officer at the electronic Halstead Property: Robyn Kammerer, 35, culture organization as marketplace, most recently serving as chairman and information site. He was previously was promoted to executive director of director of music and chief executive of Grey Direct Global Network. In that chief marketing officer at KGB. communications at the real estate the arts. He will post, he oversaw 49 offices in 42 countries. Prior to Fairchild Fashion Group: Peter W. Kaplan, services firm. She was previously vice continue in his role as being tapped to run the agency, he served as president of 56, was named editorial director. He president of communications. music director at The previously served as editorial creative American Express Publishing: Ryan Washington Chorus its flagship office. He is also the founder of Unimark, a director of Condé Nast Traveler. Manville, 38, was named vice president through the 2015-16 season. direct marketing and advertising agency that worked Melissa Mattiace, 38, was promoted to of the corporate research and insights —maia blume primarily with small and midsized companies. associate publisher of WWD, Fairchild group, a newly created position. He DMA represents companies in the Fashion Group’s fashion and beauty previously served as vice president of EXECUTIVE PROMOTIONS United States and other countries. publication. She was formerly WWD’s American Express Business Insights. The fastest way to get an announcement into KPMG: —maia blume ad director. Jeff LeSage, 50, was promoted to Crain’s is to submit details online. Fill out the form Steven Sottile, 33, was promoted to national managing partner of the tax at www.crainsnewyork.com/submit. The executive director of integrated sales. He practice at the accounting and advisory Executive Moves column is also available online.

22 | Crain’s New York Business | August 16, 2010 20100816-NEWS--0023-NAT-CCI-CN_-- 8/13/2010 12:14 PM Page 1 chemex / INSATIABLE CULTURAL EVENTS CRITIC TUESDAY, AUGUST 24 flickr.com Gael Greene THE Head to EAST RIVER PARK at the East 12th Street entrance for a performance of Five Days in March, a play about WEEK Japan’s youth and how relationships unfold just days prior to the beginning of the war in Iraq. The show, part of the Brooklyn: Come City Parks Foundation’s SummerStage, AHEAD begins at 8 p.m. and is free to attend. For more information, visit hungry, clam up AUG. 23-29 www.summerstage.org. SATURDAY, AUGUST 28 CONFERENCES & SEMINARS Visit the AMERICAN FOLK ART MUSEUM, WHAT HE’S Penny jumps out twice at cafés but Nathan’s delivers TUESDAY, AUGUST 24 45 W. 53rd St., for the opening weekend no one has ever heard of babka.I feel Join #1 ENTREPRENEUR MEETUP for a of a new exhibit, Perspectives: Forming READING on the half shell unfulfilled. seminar on business survival strategies the Figure, which examines the diversity during a slow economy.The program in folk artists’ depictions of the figure PAUL KATZ predicts The Thousand as well as on the bun runs from 6 p.m. to 7:30 p.m. at Acción (representing many different Autumns of Jacob de Zoet will win Randazzo’s Clam Bar: USA, 115 E. 23rd St., seventh floor. The communities) and features several works the Man Booker Prize, the British e’re headed for Coney Start with a dozen fee is $5. For further details, call from the museum’s permanent Commonwealth’s equivalent of Island. I figure we’ll start (201) 484-7223 or e-mail collection. The museum is open from the Pulitzer Prize for fiction. 10:30 a.m. to 5:30 p.m., and admission is at Nathan’s Famous, wallow e are no.10 in line at Ran- [email protected]. “It’s beautifully written. It has W $12 for adults, $8 for students, $8 for dazzo’s Clam Bar in clams on the half shell and grab a . A mirror NETWORKING RECEPTIONS seniors and free for members and romance. It is a tale of couple of dogs. Peter queues up at Wmakes the place seem TUESDAY, AUGUST 24 children under 12. Visit urbanization and trade.” says Mr. the hot dog station. I scope out the larger than just 100 seats.The burly NETWORKING FOR PROFESSIONALS will www.folkartmuseum.org for additional Katz, president of architecture drill in the seafood area.It seems you guy in charge hustles outside to find hold a business networking mixer from 6 details. firm Kohn Pedersen Fox line up to pay first, and then collect No. 4. Paulie, a third-generation p.m. to 8 p.m. at O’Brien’s Bar & Grill, Associates. He grew up in South SATURDAY, AUGUST 28- your clams around the corner at the Randazzo—Grandma Helen 134 W. 46th St. Fees are $10 for Africa, part of the shucking stand. I flinch at the calo- staked her claim with the famous members and $15 for nonmembers in SUNDAY, AUGUST 29 advance, and $20 at the door for all. For Head out to Governors Pick Commonwealth. rie warnings posted overhead and hot sauce that launched the empire The historical novel by David decide to ignore in 1960—races additional information, call Island for the fifth of the (212) 227-6556 or e-mail biannual JAZZ AGE LAWN week Mitchell is set at the turn of the them, ordering a around the room [email protected]. PARTY featuring Michael 19th century in Japan, when fried soft-shell crab schmoozing guests, Arenella & His Dreamland the country was still isolated from sandwich and fries. I alerting the front WORKSHOPS Orchestra, as they play dance music the rest of the world. Mr. Katz, didn’t drive this far desk to a table turn. WEDNESDAY, AUGUST 25 from the 1920s and 1930s. The festival for a health-food fix. It’s a family affair. THE FIVE O’CLOCK CLUB will host a runs from 11 a.m. to 6 p.m. on both who’s done a lot of work in Japan, buck ennis workshop on handling difficult days, and admission is $7 in advance and has an interest in its traditions. I’m here to relive my DOG DAYS: Hot dogs and fries His daughter Elena childhood—even tends the phone.Son interview questions from 6:30 p.m. to $10 at the door; children under 7 are Next up, he’ll tackle War by though I was born in Tommy chases a 8:30 p.m. at 11 Penn Plaza, fifth floor. free. For more information, visit Sebastian Junger, about an army The fee is $50. Call (908) 696-9469 or www.dreamlandorchestra.com or call Detroit—to wade in NATHAN’S friend around the unit in Afghanistan. “It’s so easy e-mail [email protected] for (212) 440-2202. for the rest of us to forget about nostalgia for the FAMOUS dining room. additional information. —maia blume Brooklyn of the mov- 1310 Surf Ave. The hardwork- what is going on there,” he notes. (718) 946-2202 —THERESA AGOVINO ies, and see what the ing servers—mostly To view Crain’s full calendar listings, go to www.crainsnewyork.com/events city has done to sal- www.nathansfamous.com middle-aged women
    vage Coney Island. in black tunics and There is just one pants—have seen shucker at 8 p.m. CUISINE American and heard every- She is swift and PRICE RANGE Entrées thing. Ours delivers steady, executing the under $10 calamari, tender but stab and curl easily, not wimpy, lightly without slashing her battered,cleanly fried long, fancy pink fin- RANDAZZO’S and still warm with gernails. Suddenly, I CLAM BAR saucers of Grandma realize that she is 2017 Emmons Ave. Helen’s sauce—mild washing each clam (718) 615-0010 and hot, $1 for extra both before and after www.randazzosclambar.com sauce. opening. I ask her to “I’d come back just skip the second rinse for this calamari,”our for my dozen-and- CUISINE Waterside friend announces. a-half littlenecks, Italian And I agree. The which bamboozles baked clams aren’t her. “But I have to PRICE RANGE $9.95 to bad, either—a little get the sand off,” she $25.95 bready, a little bland, says. “That’s OK; I can’t wait to return. but with a luscious don’t worry about I will definitely go back. whole clam under- sand,” I say. I’ll let them simmer awhile. neath. And I couldn’t The hot dogs are NO HATS Never again. care less because I’m not bad—all beef in slurping up the cool natural casings. It’s briny nectar, nibbling the same frank, from his wife Ida’s delicately chewy critters raw on the recipe, that Polish immigrant Na- half shell, pink as a Botticelli nude. than Handwerker starting selling I’ve eaten my share and want more. from a Coney Island stand in 1916. “Save room for the rest,” our pal I like mine with chili and a squirt of warns. Alas, the rest is really awful. hot sauce,and savor a bite of Steven’s Fried oysters and soft-shell crabs on with mustard and sauerkraut. We’re buns are lost in a rigid girdle of all sharing the crinkle-cut fries. breading. We start scraping the Should I go back for a corn dog on a crust off fried zucchini in what may stick? How about fried frogs’ legs? be a subconscious need for a vita- We decide to save ourselves for pas- min. I should have ordered the red ta with red sauce. “Let’s go find or white clam sauce with linguine,or Fiorentino’s,” I suggest. “Are you pasta with lobster, or shrimp fra di- still hungry?” Penny asks.“Not real- avolo, or even “marinated burned ly,” I respond, sort of surprised. chicken,” just for research’s sake. We decide to hit Brighton Beach for people-watching but we can’t Copyright © 2010 by Gael Greene. find any.“I’ll settle for babka,” I say. Syndicated by www.insatiable-critic.com.

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