CNYB 02-11-08 A 1,2 2/8/2008 7:49 PM Page 1

TOP STORIES INSIDER Is Mike Spitzer invests a winner or millions in stem loser after cell research Super PAGE 2 ® Tuesday? PAGE 14 Costume jewelry shines on the runway, heads to VOL. XXIV, NO. 6 WWW.CRAINSNEWYORK.COM FEBRUARY 11-17, 2008 PRICE: $3.00 store counters PAGE 3 MADE IN CONNECTICUT Law firms Leon Black’s LBOs fizzle as investor loses his touch follow money PAGE 3 EVERYBODY’S THE BRONX CONFESSIONS The 2 best choices FINE IS BURNING OF A SHOPAHOLIC in credit mess Robert De Niro stars John Turturro and Isla Fisher plays an to develop the in this soon-to-be- Oliver Platt were cast NYC journalist in this Hudson rail yards released film. in last year’s miniseries. upcoming movie. “These problems are going to ex- getty images With millions pand to such a dimension that it EDITORIAL, PAGE 12 at stake, hundreds will consume vast amounts of lawyers’ time.” assigned to bolster Among the first was power- MY FUNNY Film producers house Greenberg Traurig, which subprime practices has 1,750 lawyers. It began build- VALENTINE ing what is now a 48-member BY HILARY POTKEWITZ SMALL BUSINESS roll out of the city group in August. Mintz Levin Cohn Ferris Glovsky and Popeo Dating first came the $211 billion in launched its 25-lawyer practice in services all production costs in 2006—the write-downs of subprime debt, December; Pepper Hamilton fol- rake in Bigger incentives most aggressive incentive program now comes the legal bo- lowed in February with its lover-ly boost Connecticut, in the country—a growing number nanza. 70-member credit crisis re- profits of feature films slated to shoot in In the past four months, sponse team. Many other PAGE 19 other NE states New York have fled to those green- nearly 20 law firms have 500LAWYERS firms, including Bryan er pastures. In the past year alone, set up subprime practices have been Cave, are mulling plans for drafted to sort VALENTINE NO MORE? BY MIRIAM KREININ SOUCCAR New York has lost about $400 mil- comprising more than 500 out subprime their own subprime groups. Unofficial lion in production revenue to Con- attorneys, many of them in suits to date At Bingham Mc- breakup the strike by the Writers Guild necticut and an additional $350 New York. Not since the Cutchen,65 partners make season of America that has shut down million to nearby Rhode Island savings and loan crisis two de- up a subprime practice that didn’t leads some production for more than three and Massachusetts, both of which cades ago have so many law firms exist two months ago. Such top to sell months is expected to end this have lucrative incentive programs moved so fast to create a whole new firms often bill in the range of $600 old rings week,but New York’s film industry as well. discipline. to $800 an hour. Amy Kyle says and gowns has even bigger problems on its Remember the critically ac- “It’s a sea change,” says Marvin she is already drawing additional PAGE 27 horizon. claimed miniseries The Bronx Is Pickholz, the partner in charge lawyers from the 1,000-attorney Since the state of Connecticut Burning? That ESPN show was of Duane Morris’ month-old, 15- firm and is open to hiring more le- started offering a 30% tax rebate on See FILM PRODUCERS on Page 8 lawyer subprime practice group. See LAW FIRMS on Page 8 AT DEADLINE NEW YORK’S THREE MAJOR AIRPORTS COULD SEE reductions in flights if merger talks now under way lead to a Calorie rules hit fine-dining spots combination of Continental Airlines with United Airlines Steakhouses, other and Northwest Airlines with Delta Air Lines.The two chains fear putting merged entities would control info on their menus 40% of the roughly 110 million passengers who pass through the area’s three main BY LISA FICKENSCHER airports and would eliminate overlapping routes. a year ago, when the city’s Board of Health took aim at obesity, fast- A NEW COLLECTION OF food restaurants were on the hot ADVOCACY GROUPS IS seat. But now the McDonald’s of joining forces under the the city are in highfalutin company. banner of the Health Care for A new, broader version of the All New York Campaign in rule, which was passed last month, hopes of passing universal targets some of the toniest eateries health coverage in the state. around town as well as casual full- The Community Service service spots. Cash-consuming See AT DEADLINE on Page 2 restaurants such as Ruth’s Chris See CALORIE on Page 8 06 5 RICK JURMARK says that seafood restaurant McCormick & Schmick’s has been “caught ELECTRONIC EDITION in the crossfire.” NEWSPAPER james cooper james 71486 01068 0 CNYB 02-11-08 A 1,2 2/8/2008 7:49 PM Page 2

AT DEADLINE

Continued from Page 1 taking the time needed to do the Society of New York leads a core job properly. group that includes the Ameri- can Cancer Society, Children’s THE NATIONAL PARK SERVICE Defense Fund, Citizen Action SAYS IT EXPECTS TO MOVE of New York and New Yorkers Hamilton Grange, the historic for Accessible Health Coverage. home of Alexander Hamilton, CSS was recently awarded a to Harlem’s Saint Nicholas Park multiyear grant of $750,000 in May and to reopen it to from the Robert Wood Johnson visitors in the fall.The museum Foundation to fund HCANYC. closed two years ago so that architects could evaluate a URBAN LIFESTYLE AND relocation plan, and excavation SHOPPING MAGAZINE work began recently.The home Complex is launching a is being moved about 300 feet. television advertising campaign this week that will promote the A 20-UNIT RESIDENTIAL title’s brand and Web site.The BUILDING WITH TWO approximately $1 million restaurants on the ground floor campaign will air in two-week at 21-23 Peck Slip was sold for spurts, timed to when each issue $16.5 million to Italian real comes out. Complex appears estate company E.D.E. SRI. seven times a year.The 15- Eastern Consolidated brokers second ads will run on at least a Martin Ezratty and Brian dozen channels that reach the Ezratty represented the seller, magazine’s target audience of Peck Slip Associates, and young men, including MTV, Charles Castelli of Century 21 BET,Fuse and ESPN. Castle Real Estate represented the buyer. Building rents range THE REAL ESTATE INDUSTRY IS from $2,000 to $5,000 a month.

BECOMING IMPATIENT AS THE neff david city continues to work on a THE AIRTRAIN RAIL SYSTEMS IN THE MIX: Researchers working on stem cell projects at New York University received money in the state’s current round of grants. study of how to reduce SERVING JOHN F. KENNEDY construction costs, which have International and Newark been rising 10% a year. Deputy Liberty International airports Mayor Bob Lieber was recently both achieved record ridership asked at a Brooklyn Chamber of figures last year. AirTrain JFK Commerce forum why “there’s served more than 4.4 million Investment in research been radio silence for months” paid passengers, a 12% increase on a study that many expected over the prior year. AirTrain would be completed last Newark handled nearly 1.8 New York pours big bucks into stem cell science summer.The city Economic million riders, an increase of Development Corp. says it is 13.5%. BY GALE SCOTT CORRECTIONS in doling out nearly $55 million this year for stem cell research, Gov. Eliot Spitzer is Richard Dreiling left his position as CEO of Duane Reade Holdings Inc. for a job at Dollar General. The name of his new employer was misstated in the Feb. 4 “Hot Jobs” profile. establishing New York as one of the leading states seeking to cash in on this emerging field. Because the Small Business Administration supplied incorrect information, dollar amounts The grants are the first installments of $600 million that Mr. Spitzer has promised for stem were misstated for several loans in the Jan. 21 list of the largest SBA-guaranteed loans in cell research over 10 years.That leaves the Empire State behind California, which has fiscal 2007. The correct total loan values are: Howard Johnson, $6,000,000; A. Schneller Sons, $4,816,000; C. Kenneth Imports, $4,374,000; and Family Car Wash, $4,290,000. committed $3 billion over the next decade, but ahead of Wisconsin, which is building a $150 million stem cell research institute, and Texas, with $41 million dedicated for a research facility. New Jersey would have been third on the list, but in November voters there rejected a THIS WEEK IN CRAIN’S referendum to spend $450 million on such research.The state still plans to build a $150 million research facility in New Brunswick. ALAIR TOWNSEND ------13 “We’re doing very well under the Spitzer administration, second only to California,” says 29 See NEW YORK on Page 9 THE INSIDER------14

REAL ESTATE DEALS------15

THE WEEKS AHEAD ------15

WEEK IN REVIEW ------16 Tech incubator closing REPORT:

SMALL BUSINESS------19 $150,000 from the Empire State cial tech provider YellowJacket Software group cites Development Corp. and Rudin Software,graduated in 2007 and re- CLASSIFIEDS ------24 lack of state grants; Management, the property’s owner. cently entered a deal to be bought by The facility’s tenants were notified IntercontinentalExchange, an At- NEIGHBORHOOD will probably have to of the shutdown three months ago. lanta-based operator of global stock JOURNAL------26 restructure itself “The incubator was successful in exchanges. terms of job creation and Separately, NYSIA’s BUSINESS LIVES------27 company success stories,” board will meet this month BY AMANDA FUNG says NYSIA President Bruce to discuss reorganizing the HOME FRONT------28 83 Bernstein. “In the end, we LOCAL JOBS 16-year-old trade group, created by CORPORATE LADDER------29 the new york Software Industry could not sustain it without startups in which has seen a reduction Association will close its lower assistance from the city and NYSIA’s facility in government grants. Mea- EXECUTIVE MOVES------30 31 Manhattan incubator for local tech state.” Efforts to find private over 3 years sures might include elimi- BOB LAPE ------31 startups at the end of February be- sector funds to replace state nating annual membership cause funding for it has dried up.Ad- money proved unfruitful, he says. fees, Mr. Bernstein says. He de- vol. xxiv, no. 6, february 11, 2008—Crain’s New York Business (issn 8756-789x) is pub- lished weekly by Crain Communications Inc., 711 Third Ave., New York, NY 10017. Period- ditionally, the 500-member trade At its peak,the incubator housed clined to elaborate. icals postage paid at New York, N.Y. and additional mailing offices. Postmaster: Send address group, faced with its own financial 15 companies. Over the three years, NYSIA has a number of big cor- changes to: Crain’s New York Business, Circulation Department, 1155 Gratiot Avenue, Detroit, MI 48207-2912. for subscriber service: Call (888) 909-9111. Fax (313) 446-6777.$3.00 a squeeze, is likely to restructure. the firms created 83 jobs in the city porate sponsors, including IBM, copy, $59.79 one year, $109.79 two years. (GST No. 13676-0444-RT) ©Entire contents The 21,000-square-foot incuba- and raised about $21 million in ven- Microsoft and RRE Ventures. copyright 2008 by Crain Communications Inc. All rights reserved. tor, at 55 Broad Street, was estab- ture capital, according to Mr. Bern- lished in May 2005 with a total of stein.One of the first tenants,finan- COMMENTS? [email protected]

2 | Crain’s New York Business | February 11, 2008 CNYB 02-11-08 A 3 2/8/2008 5:08 PM Page 1 Fashion goes faux Campus Costume jewelry hit recruits of season with earthy designs; recession wary could help lift sales

BY ELISABETH BUTLER CORDOVA Graduates-to-be sense uneasiness leggy models strutting the run- way for Elie Tahari, Oscar de la as downturn looms Renta and others during last week’s fashion shows were invariably strung with chunky necklaces made BY SAMANTHA MARSHALL of glass and wood. Message to fashionistas: Cos- baruch college graduate Jason tume jewelry is staging a comeback Yarbrough is pursuing every possi- this year. ble avenue to get his résumé into the The segment could certainly use NOT-SO-RARE FIND: right hands. The human resource some sparkle. Though overall jew- Costume pieces let management major, who finished elry sales increased 6% in 2006, to women change looks his four-year degree in December,is $62.2 billion, costume sales shrank without spending a schmoozing with potential employ- by 8%,according to the most recent lot, says Gabrielle ers at church and helping to organ- Failkoff Redford of data from research firm Unity Mar- Haskell Jewels. ize campus job fairs at Baruch. keting. “I need to step up and hustle a lit-

The latest style—tribal-looking buck ennis tle bit,” says Mr. Yarbrough, 22. bangles and beads—is already hit- “People say there’s a recession com- ting stores for spring and could help Redford, chief operating officer at pected to generate revenues of $90 fashion houses putting money and ing,and I’m just praying and hoping costume jewelry’s rebound. Haskell Jewels. The company, million this year, up 20% from just creative talent behind a new cate- it won’t get that severe.” “It’s very global and ethnic,”says which owns the Miriam Haskell two years ago. gory, it’s going to be around for a Students used to a booming job Michael Fink, women’s fashion di- costume jewelry line, also pro- Of course, some costume jewel- while,” says Ann Watson, fashion market,multiple offers and fat sign- rector at Saks Fifth Avenue. “We duces collections under license for ry can be costly. Pieces from Miri- director at Henri Bendel. ing bonuses (Crain’s, May 7, 2007) haven’t seen this in a while, and it O Oscar, JLO by Jennifer Lopez am Haskell’s high-end line, like la- must deal with a new reality in the feels very fresh.” and Kenneth Cole. bor-intensive designs featuring Go natural face of mass layoffs on Wall Street Designer Karen Karch has been hand-wired clusters of beads, sell the tribal trend is exciting cos- and supporting service industries. Cost factor producing her signature horn- for $400 or more. tume jewelers who have long fa- The campus recruitment season is the looming recession could shaped pendants for years, and she The opportunity to market at a vored more natural materials.They just starting, and though counselors also give the market a boost. hopes that the earthy look will cue variety of price points is pushing re- say the growing green movement say they don’t expect to see the full Fashion jewelry generally costs a rush of sales. tailers to devote more space to faux can help give consumers another effects of the economic downturn less than items made with precious “All you keep hearing is reces- baubles. reason to go costume. Using glass until this spring at the earliest, they metals and polished gems. With sion, recession, recession—I think Specialty store Henri Bendel is and wood can be touted as a more are seeing signs of the slowdown. gold prices now hovering near people are shopping differently this building a second fashion jewelry ecological style choice. record highs, cost-conscious con- year,” Ms. Karch says. section on the third floor of its Fifth “It’s about wearing something Extra effort sumers are more likely to shop cos- Jewelry designers at all levels are Avenue flagship. When it opens that comes from the earth,” says instead of companies visiting tume collections. scrambling to get into the fashion this summer, the section will fea- Roxanne Assoulin, the designer for campuses, for example, students “Fashion jewelry is an opportu- market. ture six high-end lines,bringing the Lee Angel, a costume line that sells more often must go to them. Some nity for a woman to change her “We’re still aggressively growing store’s total costume offering to 86 in Henri Bendel and Scoop. familiar faces are missing at job fairs, outfit without spending as much and looking for more licenses,” Ms. collections. as several recruiters have been laid off. money,” says Gabrielle Failkoff Redford says. Haskell Jewels is ex- “When you start seeing the big COMMENTS? [email protected] “We’re all very watchful and won- dering what’s going to happen in the next two or six months,” says Tracy Handler,director of career services at Baruch’s Zicklin School of Business. Though a slight hiring pullback Black’s buyouts fizzling out has been noted at investment banks, fallout from market turmoil has been limited so far. Fordham Uni- Things widened to $180 million for Unfortunately for Mr. Black, foundering. While deals backed by versity,New York University,Coop- After early success, the nine months ending last Sept. Linens ’n Things is just one of sev- other leading LBO shops, includ- er Union and Baruch say companies’ recent leveraged 29, while cash flow at the retailer eral of his recent LBOs that’s ing Blackstone Group, are also attendance at job fairs is similar to slipped below the level needed to struggling,Mr.Black’s buyouts rank last year, as employers seek to re- deals go bad; service its massive debt. Worried at the bottom of the heap among place retiring baby boomers by rely- investors have all but written off the Mr. Black has those engineered by big New York- ing more on interns and entry-level no payoff in sight retailer. The debt taken on to based firms, according to a report hires, who cost less. finance the buyout a record of last month from debt-research firm Still, students are being urged to BY AARON ELSTEIN now trades at a FridsonVision. Two-fifths of the prepare for the worst. Career coun- mere 43 cents on finding gold bonds used to finance more than selors are sending e-mails blasts, when leon black took retailer the dollar, ac- $100 billion of Mr. Black’s LBOs urging job seekers to attend all the Linens ’n Things Inc. private in a cording to in garbage over the last five years trade at dis- fairs and advising them to be less $1.3 billion leveraged buyout two bond-trading tressed levels. That means they picky about offers. years ago, Wall Street cheered, fig- firm Market- fetch less than 80% of their face val- It’s advice that Baruch College uring he and his team at buyout Axess. ue. That compares with an average senior Dion Lou is taking to heart. firm Apollo Management would “Apollo over- of 30% for his peers’ LBOs. The 23-year-old Mandarin speaker, find a way to revive the struggling leveraged the com- For Mr. Black and his investors, who graduates this summer, had his retailer. Few people at the time pany just as business the payoff from his deals comes heart set on an investment banking much cared that in order to finance fell off,” says Kim down the road when internship in the city. the deal, Mr. Black saddled the Noland, director of companies such as Instead, he’ll accept an offer nearly debt-free retailer with more high-yield research at Linens ’n Things sell from a bank in Hong Kong, where than $600 million in long-term independent their stock to the he will most likely stay after he grad- borrowings. bond analysis public again. As uates.“I guess I don’t have too many Today, Mr. Black’s leveraged firm Apollo’s stable of other options,” he says. buyout has frayed badly. Losses for Gimme companies strug- the New Jersey-based Linens ’n Credit. See LEON on Page 10 COMMENTS? [email protected] bloomberg news February 11, 2008 | Crain’s New York Business | 3 CNYB 02-11-08 A 4 2/8/2008 7:29 PM Page 1

IN THE MARKETS HIGHLIGHTS REEL Marsh & McLennan set -5.6% The Bloomberg/ to rise above scandals Crain’s New York Index

➡ fell 5.6% to I’m optimistic about Marsh,” says Rob The next issue is whether to stream- end the CEO, an insurance vet, Haines, an insurance industry analyst at line Marsh, which owns the Mercer and week at renews analysts’ faith; CreditSights. “I think the new CEO will Oliver Wyman consulting firms as well as 330. The be more focused on security firm Kroll. S&P 500 boosting margins a must performance.” Mr. Haines figures Index fell Over at Morgan that Marsh will spin 4.6%, Stanley,analysts think off those units. closing at BY AARON ELSTEIN that Marsh is worth Marsh’s stock price 1331. $33 a share. Broker- has fallen by a third f all the firms targeted age firm Stifel Nico- over the past five years, by Eliot Spitzer when he laus & Co.,which rat- while share prices for was cleaning up abuses on ed Marsh a “hold” for its peers have been flat. Wall Street, none suffered more than two years, The company will re- more than Marsh & last month upgraded port full-year results RISERS OMcLennan Cos. the stock to “buy.” on Tuesday. Analysts 5-DAY 1-MONTH 3-MONTH CLOSING In 2004, Mr. Spitzer—then New To vindicate the surveyed by Reuters % CHANGE % CHANGE % CHANGE PRICE York’s attorney general—forced the bulls,new CEO Brian Estimates forecast Avon Products +8.9% +1.4% -0.6% $39.05 world’s largest insurance broker to stop Duperreault must ad- that per-share earn- National Medical Health +7.5% +8.4% +15.8% $9.92 rigging bids,which cost it $850 million in dress Marsh’s most ings fell 25%,to $1.23, annual commissions. Chastened, Marsh glaring problem: fall- and revenues declined Polo Ralph Lauren +4.1% +12.6% -3.6% $63.72 replaced top management. But it never ing profit margins. 6%. The drop in the News Corp. +1.5% +4.5% -10.1% $20.30 found a way to replace the lost revenues, The firm, once the Market cap $13.7 billion bottom line reflects PepsiCo +1.4% -10.4% -5.0% $69.81 and its stock price has gone nowhere ever most profitable in its Return on equity 12.2% the business lost when since. sector, saw margins in Total cash $2.8 billion Marsh sold its Putnam At long last, there are good reasons to its key risk and insur- mutual fund business SINKERS jump back into the market for shares of ance division fall to last year. 5-DAY 1-MONTH 3-MONTH CLOSING this reawakening giant. Last month, 11% over the nine Analysts are look- % CHANGE % CHANGE % CHANGE PRICE Marsh hired a veteran insurance official months ended Sept. 30—a fraction of ing for much better results next year and CIT -20.1% +22.5% -20.4% $24.50 to replace Chief Executive Michael 2003’s pre-scandal level of 25%. In con- in 2010:They expect earnings to jump to Ambac Financial -16.7% -43.8% -55.3% $10.99 Cherkasky, who resolved the company’s trast, top rival Aon Corp. posted margins $1.91 and $2.37 per share, respectively. legal problems but was out of his depth IAC -15.8% -10.1% -25.5% $22.11 of 17% last year. Analysts are betting that At those levels,Marsh would be almost as when it came to repairing its core insur- Mr. Duperreault, previously the CEO of profitable as it was in the years before the Prudential Financial -15.7% -17.7% -24.0% $71.87 ance business. insurer Ace Ltd.,will have better ideas for Spitzer crackdown. NYSE Euronext -15.1% -9.6% -23.2% $69.03 “It’s going to take a while to right the boosting employee productivity than his ship, but for the first time in a long time, predecessor, a former prosecutor. COMMENTS? [email protected]

THIS IS OUR MARKET... STOCKS TO WATCH by Erik Ipsen Ebbing demand for cars means Avis must try harder, or else MOUNTING SIGNS that consumers are hitting the brakes on car rentals have put the industry into a skid. Shares of Avis have tumbled 13% in the past year, 55% in the last month alone. Intense competition has helped set the stage for the news next week of a 65% drop in quarterly profits. Investors also fret about the company’s ability to carry $9 billion of debt into a recession. No wonder the shares trade at 9 times earnings. Traditionally, the NYSE has been the blue-chip U.S. stock exchange. But Nasdaq was the one to own last year, when its shares shrugged off the Admit One, the trusted source for the acquisition and sale of live event tickets for over 20 years… financial crisis and soared 43%. Fourth-quarter earnings doubled as market On the Buy side and Sell side — we offer our clients true market value, secure transactions volatility spurred a spike in trading volumes. But this year, fears that the credit and dependable service. Let Admit One connect you and your clients to the events crisis will erode that volume have helped drive the shares down 18%. They that matter. Call today, our market makers are standing ready to now trade at a paltry 12 times last year’s earnings. BUY or SELL all NBA and NCAA tickets. Sooner or later, all this talk of a recession had to trip up even the oil industry. Shares of Hess, which doubled last year, have slipped 12% so far in 2008, despite a 63% spike BigBig East East and and in fourth-quarter profits. Petroleum prices, which peaked at nearly $100 •C•CONCERTSONCERTS a barrel at year-end, have sunk by (646) 307-4239 FinalFinal Four Four Tickets Tickets almost 15%. With Europe showing www.admitone.com • email: [email protected] NowNow Available Available•T•THEATERHEATER signs of catching the American 1412 Broadway, New York, NY SPORTSPORTS financial flu, it’s hard to see the S upside in oil or Hess. On the Bloomberg Terminal: Type TIXX or email [email protected] charts: lindström bekka

4 | Crain’s New York Business | February 11, 2008 Project12 2/5/08 2:01 PM Page 1

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Brown University Cushman & Wakefield High hopes for Lowe book Diana Gaines tar of the big and small screen Rob Lowe (right) found a way to keep busy while the writers’ strike put his acting on hold: WDF Holdings, Inc. He started a memoir. CBRE S Sacha Zarba The actor, whose career spans Brat Pack movies The Outsiders and St. Elmo’s Fire and television hit The West Wing—as well as a notorious 1988 sex tape—has begun making the rounds of New Sage Asset Management GVA Williams York houses with his agent, Richard Abate. So far, the project has been favorably received. “It’s an anecdotal, good-natured memoir, and he’s writing it Springfield, L.I. Cemetery GVA Williams himself,” says a top executive at a major house. Currently a cast member of ABC drama Brothers & Sisters, Mr. Lowe is in the early stages of the writing. Celebrity books have been enjoying a slight comeback For leasing information contact: after falling out of favor due to big advances and poor sales. Harry F. Blair Comic Don Rickles had a best-seller with Rickles’ Book, and 212.716.3741 [email protected] Steve Martin has one with Born Standing Up. Mr. Abate declined to comment. Sean Kearns getty images 212.716.3715 [email protected] Which magazine New Yorkers to book pricey interests advertisers. vacations at its luxury properties. That hasn’t stopped Verizon is more PC? Relais & Châteaux, a 54-year- Wireless.This week, the old organization whose telecommunications giant will there’s a new winner of the membership includes 470 hotels begin running the first ads on HD tech magazine smackdown. PC and 80 top-rated restaurants Radio in the New York market, World has overtaken longtime around the world, opens a $1 airing 10-second spots four times front-runner PC Magazine in the million Maison today at 10 E. an hour on Z100 HD2, the side increasingly hard-fought battle for 53rd St. channel of WHTZ-FM. advertising pages. The New York outpost will “There’s a lot of benefit to Both titles have provide cooking being the first ones in there,” says been battered by the demonstrations and Rob Williams, market manager for Web. In 2007, IDG’s tastings by prominent Clear Channel Radio New York, PC World carried chefs such as Jean- the station’s owner. 1,069 ad pages, down Georges Vongerichten and He argues that it won’t hurt the 5% from the prior Daniel Boulud. format to carry commercials, year. “Wine and fine dining insisting that “it won’t be long” PC Magazine, are wonderful icebreakers before satellite radio’s music from Manhattan- to introduce people to our channels run ads. based Ziff Davis, properties,” says Jacques- A Sirius Satellite Radio slid a devastating Olivier Chauvin, chief spokesman responds that the 33% last year, to 1,025 executive of the company is “100% committed” to pages, according to association. commercial-free music. “It IMS/The Auditor. The space also features a appears terrestrial radio is doing PC Magazine theater where travelers can to HD Radio what it did to FM,” Publisher Jim McCabe view presentations on each he says. insists his title isn’t property and a library of books the loser. “There are on travel. Contributor: Lisa Fickenscher a lot more The glorified travel agency [advertising] will also address concerns about inserts in their magazine,” he says. the weak dollar. “Our American “We don’t do those because we guests are more money- hold a very strong line on the price conscious,” adds Mr. Chauvin. we’re willing to give.” PC World isn’t taking those Ads hitting words sitting down. “We’ve BULLISH ON BRANDING walked away from customers HD airwaves because the rates that PC LIKE ANY GOOD CAPITALIST steak- Magazine has been offering in the ads are coming to HD Radio— house, Bull and Bear is looking marketplace were too low for us very slowly. to exploit its good name: the even to think about,” says Chief The digital radio format, Waldorf-Astoria restaurant and Executive Mike Kisseberth. conceived as terrestrial bar is planning a line of Bull and Gentlemen, back to your broadcasters’ answer to satellite Bear brand steak sauces and corners and wait for the bell! radio, has been making some marinades. They should go nice- progress getting its technology ly with the $65 private-label Vacation planning into cars and cutting the prices of Chardonnay and the $60 Pinot its receivers. But the format’s Noir the steakhouse began serv- à la Maison specially programmed “side ing in November. Like the wines, channels”—which can only be the sauces will be sold only in a paris-based association of heard on an HD radio or over the the hotel. boutique hotels is betting that a Internet—are still a long way from Manhattan location will convince having the kind of audience that

6 | Crain’s New York Business | February 11, 2008 Project1 2/6/08 3:15 PM Page 1

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sandwich at Burger King is 900 calories, while a Triple Whopper Calorie rules hit fine-dining spots sandwich with cheese is 1,230. Federal guidelines call for no Continued from Page 1 The industry fears it will be expand- Restaurants. “You are comparing more than 2,000 calories a day, and Steak House, Capital Grille and ed to cover all restaurants, as hap- apples and oranges.” Ms.Crum notes that “1,000 calories Morton’s The Steakhouse will soon pened last year with the ban on trans The city’s Department of Health for a single meal is simply excessive.” be required to print caloric informa- fats. Already,several cities and coun- and Mental Hygiene, which unsuc- tion on their menus, including their ties across the country are proposing cessfully proposed a similar rule last Heavy fare wine and cocktail lists. or have passed similar laws on calorie year, disagrees. even eateries that have a reputa- “I feel it’s an error and that we are disclosure at restaurants. “The intention is to inform con- tion for offering mostly healthy fare somehow caught in the crossfire,” Industry executives concede that sumers so they can make educated might confront their customers says Rick Jurmark, general manager the law would probably change some decisions,” says the city’s health with surprising information. of seafood restaurant McCormick consumers’ behavior. Diners may not commissioner, Thomas Frieden. “I The Hale & Hearty chain offers & Schmick’s at Sixth Av- only consider an item’s price think some restaurants may stop of- soups and sandwiches that range enue and West 52nd Street. 2,400 on a restaurant menu but also fering high-calorie items and will A meal at from 90 to 800 calories.“Some peo- The regulation covers NUMBER of its caloric companion. They reconfigure their menus,” he says. ple might alter their behavior if they roughly 2,400 restaurants restaurants in might decide to forgo dessert, With more people becoming Capital Grille see a soup has more calories than that are part of chains with 15 chains covered opt for a healthier entrée or health conscious, steakhouses will they thought,” admits Chief Execu- by the new or more locations in the city or calorie choose wine instead of a fan- find their fare even more excessive could come to tive Simon Jacobs. nationwide. In addition, the regulations cy cocktail. than McDonald’s. National chains like Darden restaurants must serve the This rule essentially puts 1,575 calories Restaurants, which owns Capital same menu items in standardized casual restaurants like Applebee’s and Hold the cake? Grille, Olive Garden and Red Lob- portions. The idea is to reduce obesi- Olive Garden and high-end chains at capital grille, for example, an ster, are clearly worried. ty by making people more aware of the into the same unsavory category as appetizer of prosciutto-wrapped “The company has seen this calories they consume at restaurants. fast-food restaurants. Fine-dining mozzarella with tomatoes, accom- coming, but we would like a com- The law is being challenged by the restaurant executives are confounded panied by a 10-ounce filet mignon University Medical Center. And prehensive federal solution and not New York State Restaurant Associa- by the comparison. with asparagus, lump crabmeat and that doesn’t include alcohol or a slice one done on a local basis,” says a tion, which filed a lawsuit in federal “It’s unfair to treat us the same” béarnaise sauce comes in at 1,575 of 500-calorie chocolate cake. spokesman. court this month.If the rule stands,it as fast-food businesses, says Wally calories, according to Jennifer By comparison, according to the will become effective on March 31. Ganzi, chief executive of Palm Crum, a nutritionist with New York DOHMH, a Double Whopper COMMENTS? [email protected]

credit program is designed to have production-related businesses come Film producers rolling out of New York City to the state permanently.” Indeed,starting in January 2009, Continued from Page 1 City, Queens. “We have to find a passed, would be coupled with New Blue Sky Studios,the digital-an- only 50% of expenses incurred out of shot in Connecticut, with a baseball way to keep these jobs here.” York City’s current 5% rebate on be- imation production company best the state will be eligible for the cred- park in Norwich doubling for Yan- low-the-line expenses. known for its Ice Age franchise, is it, and by 2012, none of the outside kee Stadium. Benefits in New York “If this is passed, then we will moving to Greenwich, Conn., from expenses will count.For example,all Right now,seven motion pictures new york politicians are making an again put ourselves in a competitive White Plains later this year. Man- camera equipment rented or pur- filming in Connecticut feature New effort to do just that.Thanks to lob- position with the surrounding hattan-based visual effects facility chased in New York and brought to York-themed stories or were at one bying from the local film industry, states,”says Pat Kaufman,New York Rhinofx opened a satellite office in Connecticut won’t qualify for a re- time planning to shoot here, film ex- Gov. Eliot Spitzer’s 2008 state state film commissioner. “This is Stamford, Conn., last November. bate. ecutives say.They include Confessions budget proposal includes funding to about keeping jobs and businesses NBC Sports is moving 70 jobs into For now,at least,New York’s film of a Shopaholic, starring Isla Fisher, increase New York State’s tax credit here and not watching them move the state as well. And state officials community is confident it can stop about a college grad who lands a job to 15% from 10% and start includ- somewhere else.” are aggressively seeking developers the flood of movies heading north if as a financial journalist in New York ing both above- and below-the-line Even with the proposed incen- to build movie studios. the new incentive program passes. City to fund her shopping addiction; costs, which means production tive increase, New York faces an up- “We have the infrastructure here, and Everybody’s Fine,starring Robert companies will now get a rebate on hill battle. Connecticut has aggres- Bringing in businesses and the talent lives here,” says Jane DeNiro and Kate Winslet. their biggest costs, the actors’ and sive plans to create a production “we want to build an industry Rosenthal, co-founder of Tribeca “If they can fake the Bronx in directors’ salaries. The proposed industry and has made it a major here,” says Karen Senich, acting ex- Productions. “This will make us Connecticut,they can do anything,” budget also raises the annual bene- priority. Already, production com- ecutive director of the Connecticut competitive.” says Stuart Match Suna, president fit cap to $75 million by 2011 from panies and ancillary businesses are Commission on Culture and of Silvercup Studios in Long Island $60 million now.The new budget,if setting up shop in the state. Tourism. “Everything in our tax COMMENTS? [email protected]

of individual investors. These firms Law firms relish subprime feast LEADING THE WAY can’t sort through cases fast enough. Some of the firms that recently Nothing like it Continued from Page 1 fraud actions as insurers and other criminal probes of Bear Stearns and established subprime groups. “it’s really unprecedented for gal talent. institutional investors absorb huge UBS; the Securities and Exchange # of lawyers us to be this busy,” says Salvatore “We’d be opportunistic,” Ms. losses from holdings in supposedly Commission has begun formal in- Firm in practice Graziano, co-head of Bernstein Kyle says. top-rated subprime debt.One of his quiries into Merrill Lynch, UBS, Bingham McCutchen 70 Litowitz Berger & Grossman’s sub- At this point, firms seem to be clients, an insurance company, has Morgan Stanley and others; and the prime practice.The firm established running ahead of actual demand. been the target of six subprime-re- New York attorney general has sub- Pepper Hamilton 70 the group in December, after “A client told me that he got sev- lated lawsuits in as many months. poenaed Bear Stearns, Deutsche Greenberg Traurig 48 months of being approached by en cold-calls last week from law “Frankly,that’s a lot,”Mr.Gross- Bank, Morgan Stanley, Lehman Paul Hastings three to four potential clients a firms offering their services in this bart says. Brothers and Merrill Lynch. Janofsky & Walker 40 week. area,” says John Grossbart, partner Best known for its $460 million Sonnenschein Nath at Sonnenschein Nath & Rosenthal Talent magnets award in an investors’ class action & Rosenthal 40 and co-head of its 40-lawyer credit ‘It’s really a single case or investigation of against WorldCom in 2005, Bern- markets and subprime lending task this kind can easily swallow up five Mintz Levin Cohn Ferris stein has already brought cases force. unprecedented to seven partners for years. A case Glovsky and Popeo 25 against loan originators New Cen- So far, much of the work has in- for us to be that goes to trial can engage as many Proskauer Rose 25 tury Financial and Freemont Mort- volved the investment houses that as 30 lawyers. Duane Morris 15 gage. The firm is also seeking court packaged and sold subprime debt. The main reason is the complex- appointment as lead counsel in suits Law firms are being hired to sue or this busy’ ity of these hybrid securities. The Bernstein Litowitz against HSBC, Washington Mutu- defend such companies as Citi- chain starts with mortgage compa- Berger & Grossmann 12 al and Citicorp Investment Ser- group, J.P. Morgan Chase, Merrill nies that sell high-interest loans to Covington & Burling 4 vices. Lynch and Bear Stearns. The work banks and other investors, which in A dozen of the firm’s 50 lawyers will by necessity be spread to many turn bundled them and sold them in have been assigned to the subprime firms, as the lawyers who advised A growing number of investiga- pieces. white-collar fraud might end up squad. banks in the creation of these instru- tions launched by federal, state and Bond insurers, rating services working on the same case. Sorting “Are we thinking about expand- ments will face conflicts of interest local authorities have generated fur- and legal experts who blessed the out the blame takes a village. ing?” Mr. Graziano asks. “We’ve and most likely be barred from par- ther demand. In recent weeks, the deals could face lawsuits.Partners in Among those entering the fray passed the point of thinking about it.” ticipating. U.S.Attorney for the Southern Dis- specialties ranging from litigation are so-called plaintiffs’ firms, which Mr. Grossbart reports a rise in trict of New York has launched and bankruptcy to real estate and are being asked to represent groups COMMENTS? [email protected]

8 | Crain’s New York Business | February 11, 2008 CNYB 02-11-08 A 9 2/8/2008 2:30 PM Page 1

New York among states betting big on stem cell payoff

Continued from Page 2 the state Department of Health, the restrictions enacted under Presi- concept,” says Dr. Harry Shamoon, Maria Mitchell, executive director National Institutes of Health gave dent George Bush—clearing the association dean for clinical and LAB TIME of the Academic Medicine Devel- New York researchers $39 million in way for more federal aid—the sci- translational research at Albert Ein- State outlays for stem cell research. opment Co., a consortium of New stem cell grants that year. ence would move faster, most stein College of Medicine in the York institutions involved in bio- Individual philanthropists and researchers say. Bronx. But he cautions that repro- STATE SPENDING technology research. charities are also significant in- gramming skin cells could make California $3 billion1 The various initiatives were trig- vestors. For instance, the Starr ‘Revolutionary’ concept them cancerous. New York $600 million1 gered by the Bush administration’s Foundation set up a $50 million some are encouraged by recent Though the Japanese findings New Jersey $150 million2 limits on funding research using stem cell research center in Manhat- Japanese studies showing that skin may not be useful in treatment, Wisconsin $150 million2 cells from human embryos—re- tan. The Ansary family gave Weill cells can be manipulated to turn every discovery helps,Dr.Lehmann 2 strictions derived from a moral po- Cornell Medical College $15 mil- back into stem cells. In his State of says. “Stem cell research is basic bi- Texas $41 million sition that polls show many Ameri- lion for stem cell therapeutics. And the Union address last month, the ology. Even if the whole therapy Maryland $15 million 1 cans don’t share. But states are also Mount Sinai Medical Center re- president touted the findings, say- falls through, we will understand Connecticut $10 million rushing to fund research for anoth- ceived a $10 million private bequest ing that they could mean human disease systems better.” 1-Over 10 years. 2-For research centers. Sources: Greater New York Hospital Association; Wisconsin er reason:They hope to attract phar- for such work. embryos wouldn’t be needed. State Journal; University of Texas maceutical and biotech companies, If Congress would repeal the “It’s a potentially revolutionary COMMENTS? [email protected] as well as the jobs and prosperity that accompany them. The initial grants in New York totaled $14.5 million and went to 25 institutions. The Spitzer adminis- tration is expected to make more awards this year, Ms. Mitchell says. While state officials sow the seeds of what they predict will be an economic bonanza, some scientists warn that they are raising false hopes for medical breakthroughs. It isn’t inconceivable that stem cell re- search could lead to cures for cancer, Parkinson’s, diabetes and other dis- eases, but most of the work is still in the early stages. So far,the nearest practical appli- cation is using the cells to test the ef- fectiveness of new drugs, by helping select compounds that warrant clin- ical trials. Breakthroughs involving regenerating tissue could take decades. “That’s the sad part,” says Ruth Lehmann, director of the Skirball Institute of Biomolecular Medicine Medical breakthroughs could take decades

at NYU. “The public wants you to hype it or no one will support you,but then they want results much too fast.” “It’s overhyped,” says Evgeny Nudler, chairman of NYU’s bio- chemistry department. “There are other fields of research where the money might be better spent.” Private investors are taking a more realistic view.Most private eq- uity and venture capital firms aren’t putting money into the basic re- search but rather waiting for mar- ketable applications. Economic boost the boost that funding gives the research institutions and their re- Is running your business getting in the way of running your business? gions is beyond dispute, however. “It’s hard to calculate the full economic impact, but we analyzed Get back to business. one $10 million project and project- ed 155 new jobs,” says Robin Gel- burd, chair of New Yorkers for the Advancement of Medical Re- search, a stem cell research advoca- cy group. QuickBooks.com State government isn’t the only source for researchers to tap in New York. According to a 2006 study by

February 11, 2008 | Crain’s New York Business | 9 CNYB 02-11-08 A 10 2/8/2008 2:24 PM Page 1

Leon Black’s recent buyouts fizzling out

Continued from Page 3 record of finding gold where others California Public Employees’ Re- only 64 cents on the dollar amid gles, the prospects for such a payoff see only garbage. In 1992, two years tirement System reports returns of signs of softness in the Atlantic are dimming fast. after leaving scandal-plagued junk- as high as 41% from investing in Mr. City market and others.That bodes “If you invested in the Apollo bond house Drexel Burnham Lam- Black’s buyout funds. ill, considering the company has deals at the start, you are staring at bert to start Apollo, he bought The problem now is that Mr. been saddled with more than $18 big losses,” says Martin Fridson, bankrupt Vail Resorts. Five years Black appears to have billion in debt. TROUBLED president FridsonVision. later,he reaped $270 million in prof- been early in his latest After 30 “The margin for APOLLO DEALS An Apollo spokesman called its by taking the company public round of bottom- error is shrinking,” Prices of LBO bonds in cents on the that analysis “flawed,” arguing that again. feeding. He has ze- says Gimme Credit’s dollar. its view is too short-term. He adds roed in on sectors in- years, Mr. Ms. Noland. that Mr. Black, whose personal net Mother lode cluding retailing and Black is Mr. Black’s trou- Claire’s Stores 54 worth is pegged at $4 billion by he really hit the jackpot with real estate, both of bled deals pose General Nutrition 81 Forbes, has richly rewarded his in- Spanish-language broadcaster Tele- which have weak- problems not only vestors over the years for taking a mundo, which he bought out of ened considerably starting for his own in- Harrah’s Entertainment 64 longer-term view. bankruptcy in 1993 and sold to since he bought in. vestors, but for the Linens ’n Things 43 Indeed, Mr. Black has a solid NBC in 2001 for $2.1 billion. The One example of to cash out banks that helped fi- just that is Mr. nance the transac- Quality Distribution 78 Black’s $8.8 billion tions. With so many Realogy 75 PINK SLIPS ON WALL STREET purchase last year of LBOs performing Despite more than $100 billion in writeoffs, Wall Street firms have announced only Realogy Corp., a real poorly, bankers were Source: MarketAxess

a small number of layoffs. Here is a list of those centered in New York since the credit estate brokerage. Mr. Black kicked unable to sell all the Harrah’s debt istockphotos crisis began last summer. in $2 billion in cash to acquire the and were forced to put the remain- owner of the Century 21 and Cor- der on their books—at a loss—ear- harder for Apollo to line up the fu- Bank of America 3,000 October ’07 coran Group brands and borrowed lier this month. ture deals that are its life blood. In the rest. Industrywide, investment banks the meantime, Mr. Black, who’s Bear Stearns 240 August ’07 Not surprisingly, the free-falling are sitting on $150 billion of un- been working on Wall Street for 300 October ’07 housing market has hit the compa- movable LBO debt, according to more than 30 years, is starting to 650 November ’07 ny hard. Adjusted earnings before Standard & Poor’s, and are strug- cash out. Last year, he sold an 18% interest, taxes, depreciation and gling to find buyers even for such stake in Apollo to CalPERS and the amortization—a proxy for cash seemingly top-shelf deals as the Abu Dhabi Investment Authority Citigroup 30 December ’07 flow—declined last year by nearly LBO for Hilton Hotels. for $1.2 billion. 25%, or $227 million. Some Realo- That backlog and Mr. Black’s Credit Suisse 170 October ’07 gy bonds now fetch as little as 75 sullied reputation could make it COMMENTS? [email protected] cents on the dollar, according to J.P. Morgan Chase 2,500 October ’07 MarketAxess. Losing wager CONTACT INFORMATION Lehman Brothers January ’08 140 even mr. black’s latest acquisi- tion,the seemingly recession-proof THE CRAIN’S BEAT SHEET Morgan Stanley 200 October ’07 casino operator Harrah’s Enter- 1,000 January ’08 tainment Inc., is also struggling. EDITORS SAMANTHA MARSHALL Some bonds used to finance that SENIOR REPORTER GREG DAVID e-mail: [email protected] istockphotos massive $28 billion LBO trade at EDITOR Covers education, and international e-mail: [email protected] business and trade. In charge of all editorial operations for the paper and related products. MIRIAM KREININ SOUCCAR SENIOR REPORTER NYU Trinity Centre Is Now Open. VALERIE BLOCK e-mail: [email protected] DEPUTY MANAGING EDITOR Covers the business of arts and culture. A higher level of care, now in lower e-mail: [email protected] Manhattan. NYU Trinity Centre is our Edits “New York, New York” THERESA AGOVINO column and other stories. REPORTER new state-of-the-art facility located in a e-mail: [email protected] ERIK IPSEN Covers commercial real estate. historic landmark building downtown. Now DEPUTY MANAGING EDITOR local residents and the corporate community e-mail: [email protected] BARBARA BENSON Edits small business columns REPORTER can benefit from exclusive access to the and special reports. e-mail: [email protected] Works on Health Pulse newsletter. expertise of NYU Medical Center. ROBERT HORDT ASSISTANT MANAGING EDITOR ELISABETH BUTLER CORDOVA • World-renowned physicians e-mail: [email protected] REPORTER Edits special reports and other stories. e-mail: [email protected] • Most advanced technologies Covers retail and apparel. Care you ELIZABETH MACBRIDE • Fast, easy appointments CONTRIBUTING EDITOR—REPORTS AMANDA FUNG deserve. e-mail: [email protected] REPORTER Edits special reports and Crain’s Health e-mail: [email protected] Right in the Designed for your comfort and privacy, we Pulse. Covers technology and telecom. even offer personal concierge services to neighborhood. REPORTERS HILARY POTKEWITZ coordinate all of your care. WiFi access is REPORTER AARON ELSTEIN e-mail: [email protected] available throughout the building for your SENIOR REPORTER Covers law, transportation and sports. e-mail: [email protected] convenience. Located at 111 Broadway, next Covers Wall Street. GALE SCOTT to Trinity Church, NYU Trinity Centre is the REPORTER ERIK ENGQUIST e-mail: [email protected] new destination for advanced thinking in SENIOR REPORTER Covers hospitals and insurers, e-mail: [email protected] works on Health Pulse newsletter. internal medicine, cardiology, gastroenterology, Covers politics and government, pulmonary medicine and sports medicine. works on Crain’s Insider newsletter. MATTHEW SOLLARS REPORTER LISA FICKENSCHER e-mail: [email protected] For more information, or to make an SENIOR REPORTER Covers politics and government, e-mail: [email protected] appointment, call 212-263-9797 or visit works on Crain’s Insider newsletter. Covers tourism, restaurants, hotels. NYUTrinityCentre.org MATTHEW FLAMM WEB STAFF SENIOR REPORTER KIRA BINDRIM Trinity Centre e-mail: [email protected] ONLINE REPORTER e-mail: [email protected] 111 Broadway New York, NY Covers media and entertainment.

10 | Crain’s New York Business | February 11, 2008 Project5 2/5/08 4:56 PM Page 1

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VIEWPOINT Best choices for Hudson Yards editor in chief Rance Crain publisher Jill R. Kaplan

he metropolitan Transportation launched immediately, and its plan diverges from the EDITORIAL Authority is turning out to be a tough guidelines the bidders were given.The other companies editor Greg David deputy managing editors Valerie Block, negotiator as it seeks to choose a developer would demand a chance to revise their proposals if Erik Ipsen for the 26-acre Hudson Rail Yards site. Brookfield is chosen. Durst and Vornado emphasize assistant managing editor Robert Hordt Although the MTA is well within its residential over commercial development, which puts them contributing editor–reports rights to seek the best deal it can, it needs farthest from the original spirit of the rezoning. Elizabeth MacBride columnist Alair Townsend to make its decision based on what is best The Related and Tishman proposals stand above the rest senior reporters Aaron Elstein, Erik Engquist, for the city’s economic future. When the city’s long-term on all the important criteria.There are no more resourceful, Lisa Fickenscher, Matthew Flamm, Samantha Marshall, Miriam Kreinin Souccar interests become the yardstick to measure the developers’ experienced or financially solid real estate companies in New reporters Theresa Agovino, Barbara Benson, T Elisabeth Butler Cordova, Amanda Fung, proposals, the bids from The Related Companies and York.Their tenants—News Corp. for Related and Morgan Hilary Potkewitz, Gale Scott, Matthew Sollars Tishman Speyer prove superior. Stanley for Tishman—offer a strong likelihood the project restaurant critic Bob Lape art director Steven Krupinski The idea that the city needs to reclaim what is without a will get off the ground. deputy art directors Carolyn McClain, doubt the most underutilized area of Manhattan goes back The Related Maybe most signifi- Daniel Mednick staff photographer Buck Ennis to the Giuliani administration, which drafted a plan to cantly, both designs copy desk chief Wendy Zuckerman rezone the area.The idea received a boost in 2001 when Sen. and Tishman provide spectacular copy editors Michele Arboit, Charles Schumer’s long-term blueprint for the city, drafted public spaces: the Thaddeus Rutkowski proposals stand research editor Denise Southwood in consultation with top business leaders, said New York’s Bryant Park-like associate research editor Adrianne Pasquarelli economy would never reach its potential unless it created above the rest gathering spot in the www.crainsnewyork.com more office space by extending midtown to the Hudson Related concept and online reporter Kira Bindrim River.The Bloomberg administration embraced that objec- the re-creation of EDITORIAL AND ADVERTISING OFFICES 711 Third Ave., New York, NY 10017-5806 tive and won a rezoning, which set the process in motion. Rome’s Spanish Steps editorial: 212.210.0277 Fax 212.210.0799 The opportunity for a developer is enormous, but so is the in Tishman’s plan. advertising: 212.210.0259 Cable craincom nyk risk. The MTA expects a payment of around $1 billion. Both companies face hurdles. Related must make it clear Fax 212.210.0499 Another $1.5 billion or so will be required to build a platform how the public space won’t become just a theme park for Entire contents ©copyright 2008 Crain Communications Inc. All rights reserved. over the rail yards—an enormous challenge since construction Rupert Murdoch’s News Corp.Tishman must show that it ®CityBusiness is a registered trademark of MCP can’t disrupt the operations of the Long Island Rail Road. will be able to lure a diverse group of companies rather than Inc., used under license agreement. TO SUBSCRIBE: Consider that $2.5 billion a cover charge, after which a devel- depend on cyclical financial services giants. Call 888.909.9111; fax 313.446.6777. $3.00 a copy, $59.79 one year, $109.79 two years. oper must market the neighborhood to office tenants and Some have wondered if it wouldn’t be best to try to push www.crainsnewyork.com residents while laying out more money to begin building. the two companies to combine forces. While that makes ADVERTISING AND MARKETING Only the most financially secure and experienced can be financial sense, the visions the two have presented are most advertising director Jeff Adler entrusted with the task—which excludes Extell likely incompatible. senior account managers Robert N. Grossman, William E. Squitieri Development Corp. The MTA should continue seeking the best deal possible account executives Brookfield Properties and a joint venture of The Durst as long as it doesn’t put immediate gain ahead of what is best Andrew Carlin, Robert Christiaanse, Irene Irvill, Courtney McCombs, Jennifer Siniscalchi Organization and Vornado Realty Trust have both made for New York. western account manager serious and interesting proposals. Brookfield, however, Ellen Mazen (Los Angeles) 323.370.2477 sales manager, classified doesn’t bring a tenant to guarantee the project can be COMMENTS? [email protected] print & online John Gallagher newsletter product manager Catherine Evans Gittens sales coordinator, print & online Lulé Haznedari LETTERS TO THE EDITOR sales coordinator Anita Perrino credit Pat Grondziak 313.446.6082 marketing director Amy Crossman marketing manager Jill H. Bottomley marketing coordinator Jenny Mashberg circulation manager Andrea Richardson Eatery review leaves bitter taste assistant circulation manager Rosalie Ford CONSIDER COOPER’S comfortable, clean, fair-priced, change is from grassroots efforts in of its three floors). general manager, interactive Marc Minardo IN CONTEXT neighborhood spot, entertaining towns and cities across the state. Development rights for hotel tourists, local businesspeople That’s why a friend of mine millions of additional square feet of NEW YORK PRODUCTION bob lape’s jan. 21 review,“A and sports enthusiasts from (another business owner) and I ran air rights above the new addition production and pre-press director patented disappointment,” was Madison Square Garden. for the Guilderland Town Board could be sold, and the proceeds, Michael Corsi advertising production manager very unfair. As a former restaurant ronald cohen in November. We took out two together with payments in lieu of Marilyn DeMilta operator for more President entrenched incumbents without taxes, could pay the Javits expan- than 50 years, I was Cornucopia Foods Inc. getting a penny from any political sion debt service. Furthermore, PUBLISHED BY CRAIN COMMUNICATIONS INC. taken aback by his party or special interest. My Javits could continue operating chairman Keith E. Crain president Rance Crain inability to DO-IT-YOURSELF theme: “Politics will never change during construction without loss of secretary Merrilee Crain understand the POLITICS unless we change it ourselves.” revenues, market share or jobs. treasurer Mary Kay Crain neighborhood in mark grimm The adjoining Javits-owned executive vp, operations William Morrow which Cooper’s bravo for Alair eight-story, 500,000-square-foot senior vp, group publisher Gloria Scoby Tavern is located Townsend’s Jan. 28 building at 460 12th Ave. could be group vp, technology, circulation, USE 12TH AVENUE manufacturing Robert C. Adams and the needs and column on union TO EXPAND JAVITS renovated into smaller exhibition vice president/production & demands of its coddling in Albany. It facilities, conference rooms, offices manufacturing David Kamis clientele. angers me that so many the bigger, better, most and other ancillary spaces. Floors chief information officer Paul Dalpiaz This restaurant buck ennis public sector employees affordable and faster way to expand could be added to its large corporate circulation director COOPER’S TAVERN does a good Patrick Sheposh is a pub. Although job of catering to its clientele. live better than many the Jacob K. Javits Convention attached midblock garage for truck it is designed of the private sector Center (Viewpoint, Jan. 28) is over staging, marshaling and screening, founder G.D. Crain Jr. (1885-1973) expertly and employees who support free, immediately available, This alternative could affordably chairman Mrs. G.D. Crain Jr. (1911-1996) decorated flawlessly, it cannot them—especially when it comes to publicly owned 12th Avenue.This meet all expansion objectives of deliver the package that Mr. Lape benefits. could add 750,000 square feet of Javits and conserve land use. hopes for. It is what it is: a I believe the only possibility for exhibition space (250,000 to each harry l. langer

12 | Crain’s New York Business | February 11, 2008 CNYB 02-11-08 A 13 2/8/2008 1:15 PM Page 1

The industry’s fortunes have an out- size influence. Wall Street accounts for 20% of the state’s revenue,versus 9% of the city’s.That makes the gov- ernor’s rosy scenario all the more in- explicable. Despite the importance of Wall Street to the state’s revenues, the governor includes tax proposals that would hit financial firms as part of what he calls loophole-closing.Hit- ting them while they’re down seems counterproductive. Bracing for the economic slow- down, the mayor asked his agencies to begin cutting last year. He pro- jects a spending increase of 3.7% in his next budget. The governor’s proposed spend- ing rises by more than 6% in state funds—a breathtaking increase in a perilous time. His plan to restrain spending on Medicaid, which con- stitutes 26% of general state expen- ditures, is fairly anemic. New York leads the nation in per-capita john h.john howard spending on the program. By planning for harder times,the city will be better prepared for them than the state. By law, the city must Two crystal balls end the year with a balanced budg- et, and so it budgets conservatively. By contrast, the governor must for a recession merely submit a budget believed to be in balance. The enacted budget and final result don’t have to be bal- he budget plans recently proposed by Mayor anced.The state can overspend with no legal consequences and borrow Michael Bloomberg and Gov. Eliot Spitzer speak to get by. volumes about how they perceive their political The mayor’s budget reflects the strength. At a time when the economy is fraying, careful husbanding of surplus funds the mayor lets the chips fall where they may,while built up over the past several boom years. By not spending it all, he and Tthe governor seeks to avoid bruising budget battles. the City Council have a cushion for Start with their assessments of the economy.The city antic- the down years.The tradition in Al- bany is to spend whatever is in ipates a precipitous re- line tax receipts to grow sight—and then some. There is no duction in the rate of nearly 5%. cushion there. growth in personal in- Time will tell who is Given entrenched interests, re- come, falling to 1.0% in closer to the mark, but form in government spending pro- calendar 2008 from the city’s estimates grams is only possible when the sit- 7.5% in 2007. The state seem much more realis- uation is dire—and the executive is projects a fairly robust tic to me. Wall Street willing to spend political capital.By rate of growth of 4.3% firms have written off declining to project a more realistic in 2008. The city fore- $100 billion in losses economic scenario, the governor is casts a drop in city eco- associated with the sub- letting the Legislature and special nomic activity in 2008. prime meltdown, and interests off the hook. It will The state merely ex- ALAIR the losses will probably smooth his relations with the legis- pects slower growth. TOWNSEND grow. Bonuses will be lators and make budget adoption The city estimates that lower this year. The se- less contentious, but it won’t serve Tuesday, February 19th its revenues from non- curities industry ac- the state well. 8AM to 4PM property taxes will decline next fis- counts for only about 5% of the city’s cal year. The state expects its base- jobs, but 23% of personal income. COMMENTS? [email protected] Iona College New Rochelle, N.Y. This day-long event, sponsored by Terex Corp., will examine the critical role of infrastructure in advancing the U.S. and global economies. Topics will include: CRAIN’S ONLINE POLL The challenges facing America’s aging infrastructure Exploring new ways for financing public works WHO DO YOU THINK WILL ULTIMATELY WIN THE DEMOCRATIC NOMINATION? The role of infrastructure in creating economic growth and opportunity FULLY 56% OF THE 451 SCHEDULED PARTICIPANTS INCLUDE: Congressman Jim Oberstar, Chairman, House Committee on Transportation respondents to a and Infrastructure crainsnewyork.com poll John Sweeney, President of the AFL-CIO say Sen. Hillary Clinton will Hillary Barack Harold Ford Jr., a Vice Chairman of Merrill Lynch and Clinton Obama former Congressman from Tennessee ultimately win the 56% 44% Dick Gephardt, President & CEO of Gephardt Group and Democratic nomination. former Majority Leader of the U.S. House of Representatives But a significant 44% George Pataki, Counsel Chadbourne & Parke and former New York Governor believe Sen. Barack Susan Eisenhower, President of the Eisenhower Group John Engler, President of the National Association of Manufacturers and Obama will get the nod. former Michigan Governor Stephen Flynn, author, The Edge of Disaster: Rebuilding A Resilient Nation REGISTRATION IS FREE; PLEASE VISIT For this week’s question: Go to www.crainsnewyork.com/poll to have your say. www.iona.edu/terex FOR MORE DETAILS. bloomberg news

February 11, 2008 | Crain’s New York Business | 13 CNYB 02-11-08 A 14 2/8/2008 1:15 PM Page 1

sponsor David Yassky, D-Brooklyn, says he will agree to revisions requested by the Bloomberg SUPER TUESDAY The shakeout THE INSIDER administration.The amendments WINNERS would let the mayor waive the Rep. Charles Rangel He championed Sen. Hillary by Erik Engquist and Matthew Sollars requirement if biofuel is in short Clinton’s candidacy, and she edged Sen. Barack Obama in supply or doesn’t work well at high Mr. Rangel’s backyard. Critics note that the district is less levels in boilers. than 50% black, that Latinos actually provided Mrs. Clinton’s margin of victory and that Mr. Obama still claimed three of the district’s six delegates. But what counts is the Mayor hires Rangel Spitzer puts off appearance that Mr. Rangel delivered Harlem. from within Transport Workers Union Local 100 The union, still gas plant decision recovering from its ill-fated strike in 2005, endorsed Mr. Obama late but put seth pinsky’s promotion last week together an operation that helped their candidate carry key Brooklyn ov. eliot spitzer has to president of the city Economic congressional districts. Development Corp. continues given himself 60 days to Obama endorsers Their candidate claimed 40% of the delegates in Mrs. Mayor Michael Bloomberg’s pattern A RENDERING of the proposed plant. Clinton’s state and emerged with a solid shot at the nomination. Assembly- sample the political of filling vacancies from within so G men Michael Benjamin, Hakeem Jeffries and Karim Camara, state Sens. John climate by delaying a decision on as not to lose momentum on Sampson, Kevin Parker and Eric Adams, and Council members Helen Foster, whether to support or block a liquefied natural gas facility in projects in the last two years of his administration. James Sanders, Albert Vann and Charles Barron were winners. State Sen. Bill the Long Island Sound.The controversial Broadwater project Mr. Pinsky fills the vacancy Perkins delivered Harlem but not the entire congressional district. would float nine miles off the north shore of Suffolk County. created when Robert Lieber was Rep. Joseph Crowley The Queens Democratic leader’s party outvoted The political stakes for the governor are high, since the elevated to deputy mayor. Brooklyn’s, 337,000 to 293,000, despite having fewer registered Democrats, Democrats’ hopes of taking control of the state Senate hinge and provided solid margins for Mrs. Clinton, whom Mr. Crowley had endorsed. on winning seats on Long Island in November. Tax cut effort LOSERS Proponents of the regasification facility, which would be Gov. Eliot Spitzer “He just wasn’t a player,” says one stays alive insider. Mrs. Clinton’s campaign kept the governor at a operated by Shell Oil, say it will in area schools, heating assistance loews chief executive James distance because of his low approval rating and ill-fated provide a crucial new supply for a for low-income residents, Tisch is leading a new effort to lower proposal to allow illegal immigrants to obtain driver’s region with severe restraints on environmental cleanup and fishery the 35% corporate capital gains tax licenses. Mrs. Clinton’s opposition to that idea threatens her energy. So far, the plan has earned development. rate. He says an effort is under way dominance of the Latino vote. Spitzer quiet support from business to recruit congressional sponsors Mayor Michael Bloomberg With Sen. John McCain, the interests and the backing of Mayor for the proposal, but admits that if most moderate of the three Republican contenders, Michael Bloomberg, who has asked Biofuel bill: introduced now, the bill would be becoming a prohibitive favorite for the nomination, and Mr. the governor to approve the project. hot ticket “dead on arrival.” Obama and Mrs. Clinton generating broad enthusiasm Local residents and politicians Backers will try to rally support among Democrats, rationale for an independent Bloomberg have opposed the project for a city council bill that would in Congress in the next few months. candidacy has all but vanished. Moreover, his act of denying environmental and security reasons. revolutionize the home heating oil Mr.Tisch is hopeful because Rep. interest while leaking news about a possible campaign has Shell Oil estimates that market appears likely to pass this Charles Rangel, D-Manhattan, worn thin—and threatened his image as a straight shooter. construction and support of the spring or summer.The measure entertained the idea during (Crain’s is taking note by ending the Bloom-O-Meter feature Bloomberg facility will be an economic boon to mandates that 5% of heating oil negotiations for the federal stimulus on this page.) eastern Long Island to the tune of come from biofuel beginning a year package passed by the House. Reps. Gregory Meeks, Edolphus Towns and Yvette Clarke The Queens Scott Garrett $1.3 billion over 25 years.The after enactment, 10% after three But Rep. , R-New and Brooklyn representatives endorsed Mrs. Clinton, only to see their African- company has also pledged to invest years and 20% after five years. Bill Jersey, says that if a Democrat wins American districts vote for Obama. Mr. Towns’ next primary challenger is sure to remind his constituents. The Rev. Al Sharpton “Barack made him totally irrelevant in his home state,” an insider says. “Barack won every majority African-American district Crain’s Business in the city without having to kiss the ring of the good reverend.” bloomberg news

Breakfast Forum: the presidency and Nancy Pelosi protect water quality in the lakes and Harry Reid still run the House and establish a framework for and Senate, the tax cut won’t be on managing use of the water. the table in 2009. Last week, the Senate passed the bill, abandoned by the Legislature when Senate Majority Leader Joseph Meet Garden tax break Bruno and Gov. Eliot Spitzer went to seems safe war last summer.The Assembly is expected to do the same soon. Insurance Superintendent assembly speaker Sheldon Silver says his consideration of the city’s Eric Dinallo request to repeal Madison Square Gearing up Garden’s property tax exemption for new taxi will take its first cue from Assemblyman Richard Gottfried, the taxi & limousine Date SPONSORED BY Dinallo will discuss efforts : Wednesday, February 27, 2008 whose district includes the arena. Commission wants to have a new Place: Hilton New York That’s good news for Garden car built specifically as a New York to streamline regulation of 1335 Avenue of the Americas owner Cablevision Systems Corp. City taxi, the way Checker Cabs New York’s crucial between 53rd and 54th Sts. Mr. Gottfried says that while used to be. Currently, the fleet of financial services sector, his Time: “New York as a city has been overly more than 13,000 cabs includes a 8-8:30 a.m. Networking Breakfast generous with corporate welfare, I dozen models built for police efforts to solve the bond 8:30-9:30 a.m. Program think it is wrong to pick on just one departments or consumers and insurance problem, the company.” retrofitted for use as taxis. Cost To Attend: continuing controversy To start the process, the $65 for individual ticket(s) commission will issue a request for over health insurers rates, if pre-registered by Feb.20; $70 thereafter. Lakes deal signals information from automakers this profits and policies and the smooth sailing week. effort to reform $600 for table(s) of ten if malpractice laws, among pre-registered by Feb.20; the legislature is showing more $700 thereafter. signs of being back to normal after other topics. He will be To register go to crainsnewyork.com, last June’s meltdown.The routine questioned by Crain’s or fax your business card and credit work of lawmaking—passing bills editor Greg David and card information to “Dinallo Breakfast” on which all parties agree—is under at 212-210-0499 another journalist. way again, insiders say. A good example is the Great Lakes bloomberg news Compact, a multistate measure to CITY STREETS are ready for a new taxi.

14 | Crain’s New York Business | February 11, 2008 CNYB 02-11-08 A 15 2/7/2008 6:08 PM Page 1

REAL ESTATE DEALS Software firm moving to midtown mega space

mark Knight Frank represented Edmond Li and Brett Nidel of tiated on behalf of landlord The SunGard leasing SunGard. Veracity Real Estate Management Sapir Organization. Musical producer 120,000 square feet According to its Web site, Sun- Inc. represented both the buyer and —theresa agovino sings Chelsea tune Gard, based in Wayne, Pa., has 15 seller in that deal. David Z and Mr. on Madison Ave.; offices in the city.Seven will be con- Jacobi negotiated the retail lease pri- the rodgers & hammersteinOr- combining 7 offices solidated at the new location, Mr. vately. Fashion houses ganization is moving a little further Mack says. SunGard didn’t return a —elisabeth butler cordova grow a few sizes off Broadway. ungard, a software and call for comment. The executive office will decamp processing solutions firm, Paul Amrich and Howard Fiddle two fashion showrooms have to 229 W. 28th St. in the late summer has signed an 11-year lease of CB Richard Ellis represented the Recruiters collect doubled their space in the Contem- or early fall. Some operations are al- for about 120,000 square landlord. on Madison block porary Building at 231 W. 39th St., ready in the building, which is be- feet at 340 Madison Ave.,be- —theresa agovino between Seventh and Eighth av- tween Seventh and Eighth avenues, Stween East 43rd and East 44th madison avenue between East enues, in the garment district. and the company is doubling its streets. 38th and East 39th streets is becom- Hotline, which sells clothing space there to 25,000 square feet. Deals of this size are rare. Of the Shoe store beats ing a hot spot for executive search brands to department and specialty Asking rent at the building is $42 a roughly 1,500 leases signed last year, path downtown firms. stores, expanded to 6,000 square square foot. only 42 were for more than 100,000 Solomon-Page Group LLC feet from 2,900 square feet. It will Rent at the headquarters’current square feet, says CB Richard Ellis. footwear chain David Z is signed a 10-year use about half of the location,1065 Sixth Ave.,is prohib- Asking rent at the building, preparing to open its first discount lease for about extra space to dis- itive, says Paul Haskin, a broker at store, NYZ Outlet, downtown. 51,000 square feet at play lines of Joe’s CB Richard Ellis, who negotiated Founder David Zaken has 260 Madison Ave. Two Jeans, its biggest ac- for Rodgers & Hammerstein. signed a 10-year lease for 17,000 months ago, the count. The company is not concerned square feet at 378 Broadway, at the owner of three relat- “We’ll set it up about the distance from the Great corner of White Street. The space ed executive search the way we want the White Way, as many creative firms includes a 6,000-square-foot firms inked a deal at retailers to do it,” are in upper Chelsea, Mr. Haskin ground floor, a 7,000-square-foot 261 Madison. Both says Heidi Davis, says. But the firm agonized over its lower level for more sales and a tenants moved from Hotline’s president. decision to relocate to Sixth Avenue 5,000-square-foot basement for 1140 Sixth Ave., “We’ll show off the from Broadway in 1999, he says. storage. where asking rents whole lifestyle.” The company was started to pro- David Z already operates six are now about $100 a The company duce the works of its legendary stores in the city, including two in square foot. signed an eight-year founders, Richard Rodgers and Os- SoHo. This one, which will spe- Solomon-Page is lease for the entire car Hammerstein II,and now repre- cialize in sports and work shoes, slated to move in the space. sents a number of entertainment will be its first store south of Canal third quarter. It will 260 MADISON AVE. James Perse En- copyrights. Street. Because the location is take the entire third terprises Inc., a Cal- Ted Chapin, president of somewhat off the beaten path, floor and part of the ifornia clothier, also Rodgers & Hammerstein, says hav- 340 MADISON AVE. building owner Yaron Jacobi gave seventh. Asking rent at the building increased its space in the building to ing the entire company in one spot NYZ Outlet the option to leave af- is $60 a square foot. a total of 4,500 square feet from will be a dream come true. ter two years. “This deal allowed Solomon- 2,200 square feet. It signed a five- Winoker Realty Co. brokers which is owned by Broadway Part- “It’s a new concept, so he’s going Page to move into a centrally locat- year lease. Barry Bernstein and David Danick ners, is about $85 a square foot, real to try it for a while,” says Mr. Jacobi, ed building without a significant Asking rents in the building represented the landlord, JOSS Re- estate sources say. SunGard will who adds that asking rent was about uptick in rent,” says Chris Mon- range from $40 to $45 a square foot. alty Partners. move in next January, taking over $100 a square foot. He bought the geluzo, a broker at Newmark James Buslik, a broker with The building is undergoing a the sixth, seventh and eighth floors, retail condo space, which has a pri- Knight Frank who with Eric Adams & Co., represented the ten- major renovation that includes re- according to Jeff Mack, a broker at vate elevator, in January.The previ- Zemachson represented the tenant. ants and landlord 231 West 39th furbishing the lobby and installing GVA Smith Mack. Mr. Mack and ous owner, 378 LLC, asked $8 mil- Joe Mangiacotti and Brad Gerla, Street Associates in each deal. new windows. broker Michael Ippolito of New- lion for the three-level site. brokers at CB Richard Ellis, nego- —elisabeth butler cordova —theresa agovino

THE WEEKS AHEAD

THIS WEEK’S EVENTS title insurance. 7:45 a.m. to 11 a.m., Yale (212) 337-2389. networking reception. 1 p.m. to 3 p.m., Marketing holds networking reception. FEBRUARY 12 Club, 50 Vanderbilt Ave., Saybrook Angelo & Maxie’s, Park Avenue South 8 a.m. to 10 a.m., UBS Conference Arts & Business Council of New York Room. Free. (516) 240-6220 or FEBRUARY 18-24 at East 19th Street. Fee: $44.90 Center, 1285 Sixth Ave., 14th floor. Fee: and American Express Co. hold [email protected]. FEBRUARY 18 members, $54.90 nonmembers. $10. (212) 993-5828 or workshop on destination marketing and FEBRUARY 12 Face-to-Face Speed Networking holds (212) 227-6556. [email protected]. cultural tourism. 9 a.m. to 12:30 p.m., The New School holds lecture with networking reception. 5:30 p.m. to FEBRUARY 20 FEBRUARY 21 200 Vesey St., second-floor lobby. Fee: school President Bob Kerrey on the 8 p.m., 151 W. 34th St. Fee: $35. Pace University’s Small Business School of Public Affairs at Baruch $35 Arts & Business Council members, credit crisis and central banks. 6 p.m. to (718) 757-6933. Development Center holds seminar on College holds seminar on nonprofit $55 nonmembers. 7:30 p.m., 55 W. 13th St., second floor. FEBRUARY 19 business planning. 5:30 p.m. to outsourcing. 4 p.m. to 6 p.m., (212) 279-5910, ext. 1121. Free. Registration required. Space is Fordham Business School Alumni 7:30 p.m., 163 William St., 15th floor. 135 E. 22nd St., room 301. Free. FEBRUARY 12 limited. (212) 229-5662. Association and Columbia Business Free. (212) 618-6655 or [email protected]. (646) 660-6743 or Executive Council of New York, FEBRUARY 13 School Alumni Club of New York hold FEBRUARY 20, 22, 27 [email protected]. Accenture and Proskauer Rose hold New York County Lawyers’ Association CEO lecture featuring Dr. Christoph The Real Estate Academy holds three- forum on health care. 8 a.m. to 10 a.m., holds course on the federal criminal Westphal of Sirtris Pharmaceuticals. part seminar on news, views and current FEBRUARY 25-MARCH 2 Harvard Club of New York, 27 W. 44th system. 6 p.m. to 9 p.m., 14 Vesey St. 6 p.m. to 8 p.m., Alston & Bird, real estate trends. 9 a.m. to 5 p.m., New FEBRUARY 26 St. Fee: $95 members, $195 Fee: $125 members, $165 nonmembers. 90 Park Ave., 14th floor. Fee: $20 for York Athletic Club, 180 Central Park Retail Marketing Society holds lunch on nonmembers. (212) 404-6920 or (212) 267-6646, ext. 215. Fordham and Columbia students, $30 South. Fee: $199. Seating is limited. finding retail opportunities in an [email protected]. FEBRUARY 13 all others. (646) 872-1738 or (212) 262-2662 or economic storm. 12 p.m. to 2 p.m., FEBRUARY 12 New York Investing Meetup holds [email protected]. [email protected]. Williams Club, 24 E. 39th St., sixth The Greater Harlem Chamber of lecture on the state of the markets and FEBRUARY 19 FEBRUARY 21 floor. Fee: $50 members, $75 Commerce holds membership meeting the economy. 6:30 p.m. to 8:30 p.m., Gold Place Network holds networking Lower Manhattan Business Solutions nonmembers. (201) 692-8087 or and dinner reception. 5:30 p.m. to 8:30 1290 Sixth Ave. Free (212) 255-7327. reception. 8 a.m. to 10 a.m., Café Metro, Center holds workshop on retailmarketingsoci@ p.m., New York Marriott Marquis, 1535 FEBRUARY 13 14 E. 42nd St., lower level. Fee: $10 strengthening sales. 2 p.m. to 4 p.m., retailmarketingsociety.org. Broadway, ninth floor, Marquis The New York Public Library’s Science, members, $15 nonmembers in advance 110 William St., fourth-floor conference —adrianne pasquarelli Ballroom. Fee: $25 members, $40 Industry and Business Library holds only. (212) 465-8080. room. Free. (212) 618-8862 or nonmembers. (212) 862-7200, ext. 226, lecture on the ways investors ruin their FEBRUARY 20 [email protected]. or [email protected]. finances and strategies for achieving Human Resources Association of New FEBRUARY 21 TO LIST YOUR EVENT FEBRUARY 12 success. 5:30 p.m. to 7 p.m., 188 York holds breakfast on diversity DataVelocity holds small business Crain’s lists meetings online and includes them in the State Bank of Long Island holds Madison Ave., room 018. Free. practices and women’s issues. 8 a.m. to networking reception. 6:30 p.m. to print edition as space permits. NYC events with fees seminar on tax-deferred exchanges and (212) 592-7000. 10:15 a.m., Club 101, 101 Park Ave. 9 p.m., Windfall Lounge & Grill, under $300 are considered for the print publication. FEBRUARY 13 Fee: $45 members, $65 nonmembers 23 W. 39th St. Fee: $25 in advance, Listings can be submitted only through the Crain’s More meetings online at Women’s Bureau holds breakfast on and $25 students in advance; additional $30 at door. (212) 946-2695 or Web site. Go to www.crainsnewyork.com and click www.crainsnewyork.com workplace flexibility and what employers $10 for all at door. (877) 625-4769. [email protected]. on “Events.” Sponsors have a choice of several free Click on “Events” need to know. 8:30 a.m. to 10:30 a.m., FEBRUARY 20 FEBRUARY 21 or paid listing options. All business events will be 201 Varick St., room 1109. Free. Networking for Professionals holds SalemGlobal Internet Website posted online within two business days.

February 11, 2008 | Crain’s New York Business | 15 CNYB 02-11-08 A 16 2/8/2008 1:43 PM Page 1

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

business to an affiliate of NRDC ECONOMIC SPOTLIGHT Equity Partners, which owns the Lord & Taylor department store chain, through a Chapter 11 bankruptcy process.The sale is expected to close in early March. MySpace takes a digital Spin spin magazine will work with social networking site MySpace to produce digital issues and inter- active features.The collaboration will allow readers to view artist profiles, access free audio and vid- eo samples, and connect to iTunes to download featured songs. MBIA sells shares mbia inc. sold $1 billion in stock Macy’s cuts 2,550 jobs at below-market prices to shore up capital and maintain its AAA MACY’S INC. said it will cut 2,550 jobs as part of a credit rating. Private-equity firm consolidation aimed at saving $100 million annually. Warburg Pincus backstopped the Manhattan-based Macy’s East will absorb Minneapolis- offering, originally pegged at $500 million, and purchased based Macy’s North, while the retailer’s Midwest and $300 million worth of shares. Economy Watch Northwest divisions are merged into its Southern and Warburg purchased $500 million Western divisions this spring. The consolidation will result in in MBIA stock last month. Area prices held steady in December, as lower shelter and apparel costs offset other categories. The NYC and U.S. jobless rates rose by 0.3 percentage points. a one-time pretax charge of $150 million and will generate NOVEMBER ’07 DECEMBER ’07 COMPARISON 250 MANAGEMENT POSITIONS. Weight Watchers NY area inflation change +0.4% 0.0% +3.7%1 landov inks deal in China NYC unemployment rate 5.1% 5.4% 5.0%2 Rove on Fox S&P changes weight watchers International DECEMBER JOB TOTAL3 12-MONTH CHANGE Inc. signed an agreement with NYC employment 3,650,700 +52,900 karl rove, former senior adviser standard & poor’s, under crit- French food maker Groupe and deputy chief of staff to icism for failing to respond quickly Danone to establish a weight 1-Inflation rate for the latest 12-month period. 2-U.S. unemployment rate. 3-End-month figure, not seasonally adjusted. President to the losses on mortgage-backed management business in China. George W. debt that roiled markets world- Weight Watchers will own 51% of Bush, joined Fox wide, will hire an ombudsman, the joint venture. Other financial NYC Hotel Stats Broadway Stats News as a demand disclosure of collateral in terms were not disclosed. contributor. Mr. structured-finance securities Occupancy dipped in December, Attendance and box-office gross Rove debuted holdings and change its risk but room rates held steady, says PKF dropped in the week ended 2/3, says during Fox measures.The company Vote delayed Consulting. The full-year figure for The League of American Theatres News Channel’s announced 27 initiatives aimed at occupancy was 86.5%, versus 85.6% and Producers. Only four shows out on Poly merger prime-time increasing the transparency of its

in 2006; the average room rate was of 30 made gains in one or both bloomberg news coverage of ratings process. polytechnic university’s board $303.99, compared with $269.97. measurements. Super Tuesday on Feb. 5. of trustees said it would delay for 30 days a vote on whether to AOL to split Subway ridership merge with New York University. goes back in time The board cited a letter from state time warner inc. Chief Sen. Kenneth LaValle, who said Executive Jeffrey Bewkes said the subway ridership in New York he would investigate ethical and company will separate AOL’s City soared to more than 1.5 bill- legal concerns raised by Internet dial-up business from the ion passengers last year, says MTA Polytechnic trustees and alumni. rest of the subsidiary in the next New York City Transit.That level, few months.The move is aimed at up 4.2% versus 2006 figures, is the A Giants’ parade making AOL more attractive to highest since 1951. On average, potential suitors in the wake of over 5 million straphangers used an estimated 2 million people Microsoft Corp.’s $47 billion bid the subway each weekday, and the turned out for a ticker-tape parade for Yahoo Inc.Time Warner is L train posted the largest gain in in lower Manhattan’s “Canyon of also evaluating its stake in Time average weekday ridership—8%. Heroes” to celebrate the New York Warner Cable as Mr. Bewkes Giants’ Super Bowl victory. Mayor Capital IQ’s Weekly Deals Report seeks to boost the media Building safety Michael Bloomberg presented the company’s stock price. team with the keys to the city, TRANSACTION SIZE COMPANY/LOCATION (in millions) BUYER/INVESTOR TRANSACTION TYPE city buildings commissioner while the crowd was showered Patricia Lancaster proposed reg- with several tons of confetti. Quadra Realty Trust Inc. $178.9 Hypo Real Estate Capital Corp. SB M&A Deutsche Bank ulations requiring the registration —from staff reports and Manhattan of concrete contractors and the bloomberg news reports GFI Group Inc. $60.0 Not disclosed GCI demolition plan Manhattan hiring of on-site safety managers, the lower manhattan after a surge in construction work- Etsy Inc. $27.0 Accel Partners, Burda Holding, GCI Brooklyn Union Square Ventures Development Corp. said that the er deaths and injuries. Under the DealMaven Inc. $14.0 FactSet Research Systems Inc. SB M&A decontamination and demolition new guidelines, the city would re- Manhattan of the former Deutsche Bank quire site safety managers for proj- HotChalk Inc. $5.0 NBC News, Peacock Equity Fund GCI building will now be conducted ects of 10 or more stories, instead Manhattan separately.The LMDC, the owner of the current 15-story minimum. Versadial Inc. $2.8 Fursa Alternative Strategies GCI of the building—which was Manhattan irreparably damaged in the Sept. Fortunoff deal Selected deals announced during the week of Jan. 27 for companies headquartered in metro New 11 terrorist attacks—says that the York. GCI: Growth capital investment represents new money invested in a company for a minority

demolition will be completed by privately held jewelry and bloomberg news stake. SB M&A: Strategic buyer M&A represents a minority or majority acquisition of existing shares of a company without the participation of a financial buyer. the end of the year, meeting pre- home furnishings retailer ON THE SHOULDERS OF GIANTS: Some 2

bekka lindström bekka established deadlines. Fortunoff agreed to sell its million people celebrated a Super Bowl victory.

16 | Crain’s New York Business | February 11, 2008 Project4 2/4/08 3:06 PM Page 1

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SMALL BUSINESS “A lot of restaurants just open the doors and hope for the best.” —Charles Milite, Gotham City Restaurant Group Page 22

Shoe seller steps up its act

LABOR OF LOVE: After reversal, Gary Ferone says matchmaker Great Eneslow marches Date Now has acted as intermediary in toward fashion; 100 marriages. opens institute

BY VICTORIA RIVKIN

finding and exploiting a lu- crative niche has been the mak- ing of many small businesses, but nothing lasts forever. Twenty years ago, the owner of Eneslow, The Foot Comfort Center, found that out. For decades, Eneslow fo- cused its business on medical shoes and orthotics.When New York state slashed Medicaid reimbursement for such devices in the 1980s, Eneslow’s rev- enues sank by 50%,forc- ing the com- pany to close seven of its eight stores LANDMARKS and lay off Part of an most of its buck ennis occasional staff. series on NYC That’s institutions when the company quickly had to find new products and serv- Love machines rev up ices to grow again. “I had to walk away from the majority of the medical busi- ness and focus on the fashion Matchmakers, souped-up Web sites make play for lonely hearts side of the comfort business,” says Robert S. Schwartz, who BY TINA TRASTER types of services are thriving. Manhattan-based Matchmaking In- took over the business from his Given that more people are delay- stitute in 2003 to help create stan- father and uncle 30 years ago. LOVE MAY BE BLIND, but those with enough money to spend can ing marriage into their 30s and be- dards for the industry. “Using one find some useful guideposts. Newly single Tom Morgan found yond—and that 60% of all meant that you were a des- New focus marriages now end in perate loser who needed rather than abandoning his that out after he dabbled in Internet dating,only to discover that divorce—the singles market help.” niche entirely, he shifted the people will say anything online for love. has become a rich feeding Thanks to reality shows company’s emphasis. Mr. In frustration, the busy real estate entrepreneur turned to ground for entrepreneurs of like Confessions of a Match- Schwartz began offering shoes all stripes. The number of HOT maker, scores of high-pro- for people who had foot prob- Great Date Now, a Manhattan-based personal matchmaker. online dating sites has ex- file advice books written by lems but wouldn’t be caught Three months later,his $3,000 investment paid off when he met ploded. In the process, DATES professional matchmakers dead walking about in any- a woman who shares his love of sailing and travel.Today,nearly they’ve boosted business for Profiles of 4 and a barrage of late-night thing ugly. a year later, they are still together. matchmakers by making it dating services television ads for online At the same time, Mr. more acceptable to search Page 20 dating, the $1.5 billion dat- Schwartz began making the “With a matchmaker, you know that people are real because for companionship with ing industry is growing at a rounds of local podiatrists to they’ve been interviewed and photographed and have been the help of outside parties. ratio of 25% annually. clue them in on what he was given background checks,” Mr. Morgan says. “Ten years ago, personal match- At the low end, love-starved doing—and to solicit feedback making services had a stigma,” says New Yorkers can get help for free and referrals. Within eight More than a decade after the dawn of Internet dating and the Lisa Clampitt,a former social work- online. Those using professional years of the Medicaid cuts, rev- ensuing predictions that traditional dating services would go the er who became a professional matchmakers pay anywhere up to a See SHOE SELLER on Page 22 way of the woolly mastodon, a funny thing is happening: Both matchmaker and co-founded the See LOVE MACHINES on Page 20

February 11, 2008 | Crain’s New York Business | 19 CNYB 02-11-08 A 20 2/7/2008 12:05 PM Page 1

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by conducting background checks, using new software based on sophis- JANIS SPINDEL SERIOUS Love machines rev up ticated algorithms to deliver higher- quality matches, and in some cases MATCHMAKING INC. Continued from Page 19 the lower-priced online dating serv- adding interactive Web functions quarter of a million dollars. For ices are facing the biggest hurdles as and cell phones to the tools in Cu- FOUNDED 1993 country. When $3,000 to $7,000, they typically get competition increases. Operators of pid’s arsenal. Some are even hiring FEES $25,000 to $250,000 she flies into a a series of matches over six months these sites, which commonly charge traditional matchmakers to work CLIENTELE America’s wealthiest city in search to a year. For between $30 and $60 a month, are with online customers, in an effort bachelors of Ms. Right, a $10,000 and up, being forced to rethink their strate- to personalize their services. “If I have to travel the country press release to they’re generally gies as the host of new players push- Following are snapshots of two looking for a wife, my clients the local media entitled to bou- es down prices. traditional outfits,including a high- have to pay for that” frequently helps draw scores of can- tique services in- In response, established sites— end industry pioneer and a fast- didates. HOT cluding advice, including Match.com, which is growing rival. In addition, there are —Janis Spindel, president “These men want handpicked DATES coaching and ac- owned by Manhattan-based IAC/ three online enterprises: a pair that anis spindel’s clients have women who have looks, brains, the cess to the cream InterActiveCorp—are scrambling charge no fees whatsoever, and a important jobs, big portfolios, body and values,” says Ms. Spindel, a of the global crop. to offer users better results for their subscription service that revolves Jjet-set lives and a willingness to former fashion executive and retailer. Interestingly, bucks. They are tightening controls around text messaging. pay big bucks—including a mar- One of her first steps in finding riage bonus of $25,000 and up—for the right matches for her bachelors the right mate.They come to her via is to meet with potential clients for word-of-mouth and in response to lunch or dinner. OKCUPID.COM AND CRAZY BLIND DATE sophisticated public relations efforts. “I take these prospects through a As the author of books including dating test-run,” she says. FOUNDED 2004 and 2007, respectively the fact that it is free,”says Sam Yagan,who co-found- Get Serious About Getting Married: Working with two assistants,Ms. FEES None ed the site with some of the same friends with whom 365 Proven Ways to Find Love in Less Spindel then scours the world for the CLIENTELE Twenty- and thirtysomething singles he earlier launched SparkNotes. Than a Year, the Manhattan-based right women. She serves an average Daters who go on OkCupid are encouraged to cre- professional matchmaker regularly of 100 clients a year and is responsi- “The only sites on the Internet that charge for ate and post their own quizzes, like “The How Red- appears on talk shows around the ble for more than 700 marriages. content are porn and gambling. Dating should be neck Are You Test.”Mr.Yagan acknowledges that the free.” —Sam Yagan, CEO quizzes are totally unscientific, but says they create a ith its free site, OkCupid.com is trying fun, social nexus, much as MySpace does. to change the business model for on- OkCupid’s revenues are expected to reach $2 GREAT DATE NOW Wline dating services. The operators million in 2008.The site has 600,000 active users. FOUNDED 2003 of the Manhattan-based startup rely on adver- Homing in on the mobile generation,Mr.Yagan FEES $3,000 to $7,500 tising revenues—and on what they think is and his partners have created a second free option, CLIENTELE Urban and suburban singles a growing disillusionment over online Crazy Blind Date, which arranges blind dates at from 25 to 75 dating sites’ rising monthly rates. a moment’s notice in New York and six other “I plan to open an office in every major Hip, edgy and aimed at younger major cities. Users simply go to Crazy Blind market.” Gary Ferone, president singles, OkCupid takes its tools from Date’s Web site and punch in their criteria for a – the cyberfrontier. “It is tied to the ad- date, and the staff reaches out to candidates who hen it comes to selling love, Gary vent of Web 2.0 technology, which fit the bill. If a potential match agrees, Crazy Ferone believes in advertising, whether in local papers and means it’s defined by democratic,user- Blind Date arranges the hookup through text Wmagazines or on ferries and billboards. In five years, the generated content, active participants and messaging, so that it can occur almost instantly. stockbroker-turned-romance broker has built a matchmaking empire

istockphotos that runs from Long Island, where he started out, to New Jersey, Con- necticut,Westchester and New York City.He recently moved his head- quarters to Manhattan. Great Date Now boasts a database of 4,500 clients. Each of the company’s nine offices has its own professional matchmaker, many of KEEP OUR whom have taken the Matchmaking Institute’s certification course. “Our edge is volume,” says Mr. Ferone. Great Date Now charges $3,000 for eight intros. Each client is in- STREETS SAFE terviewed in person for 90 minutes. Matchmakers delve into individ- uals’ dating or marital histories for clues to what has worked and what • An hour or two with our QuickBooks® advisors has failed. could save you weeks of frustration. After each date, clients must call in with feedback. “We act as a liaison in the early stages,” says Mr. Ferone.“We’ll of- • We have helped over a thousand businesses fer suggestions and make reservations for a restaurant that’s located from sole proprietorships to medium size companies in every field. midway between our clients’ homes.” The company has helped spawn 100 marriages. Mr. Ferone—who • We optimize the software to your business for projects that his firm will bring in $5 million in revenues in 2008, up greater efficiency and profitability. from $3 million in 2007—plans to open offices within the next few years in Philadelphia; Washington, D.C.; and Jupiter, Fla. • Our advisors are certified at the highest level. • Companies benefit from our accounting MEETMOI via cell phone. When the background. user contacts a prospect, FOUNDED 2007 the site charges a $1 con- • Our clients report tremendous return nection fee. The $9.99 on investment. FEES $9.99 per month plus $1 per call monthly subscription is payable through major carriers that ® CLIENTELE Tech-savvy singles in their • Experts at QuickBooks Pro, POS, Enterprise, have signed up to carry the service,

QuickBooks and QuickBooks ProAdvisor are trademarks registered and/or service registered marks of Intuit Inc. Payroll, Credit Card Processing and more. 20s through 40s comfortable with including Sprint Nextel, Verizon, text messaging and spontaneity AT&T and T-Mobile. CALL NEW YORK’S “Why not use the phone The service is available nation- ® for dating?” wide. MeetMoi’s chief executive, #1 QUICKBOOKS ADVISORY FIRM —Andrew Weinreich, CEO serial entrepreneur Andrew Wein- FOR HELP. reich, expects revenues to flow from eetmoi offers lightning- advertising as well as subscriptions. CALL ALICIA FLERI fast dating, for a fee. This “Mobile dating will change the FOR A FREE CONSULTATION. Mnew mobile dating service dating paradigm,” says Mr. Wein- 212-736-5333 allows users to make dates wherever reich, whose earlier businesses in- “We tried other QuickBooks® advisory they are at any given moment. clude social networking site Sixde- sources, but Presti & Naegele were head and ® It’s a bit like using a global posi- grees.com. “It’s right here, right shoulders above everyone else. The return on tioning device to find love. A user now—not three weeks from the time investment has been terrific.” www.qbprosnyc.com text-messages his or her location to you started e-mailing someone.” – Sam Braunstein, Wellgate Products, LLC MeetMoi.com, which generates a list of candidates and sends it back COMMENTS? [email protected]

20 | Crain’s New York Business | February 11, 2008 Project3 11/5/07 11:59 AM Page 1

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Eastern spot on St. Marks Place, in the East Village. But the French-trained chef HITS & MISSES wanted to branch out and opened Mazzat, a full-service Mediterranean Strategies that worked and didn’t for restaurant and tapas bar in Brooklyn’s up-and-coming but still 3 very different restaurants by Lisa Goff edgy Red Hook neighborhood. Mr. Bakhoum transformed a former warehouse space into a cozy, brick-walled room that seats Consistency proves key for Gotham 60. The tapas menu covers the en- tire Mediterranean region, with s models in the 1980s, Charles Milite, items like andouille sausage and BEYOND ETHNIC: Eric Petterson and Carolyn Benitez foie gras with figs, and includes Owner Khatuna Baghaturia wants to made a living by showing off changing Middle Eastern favorites. Combined revenues from both appeal to people A outside the fashion trends. But as restaurateurs, the trio restaurants came to $600,000 last Georgian community. found success by choosing a signature style for year. each of their eateries and sticking with it. HITS Live Bait, opened in the Flatiron district in Good food at the right price Tbilisi has Georgia on the mind 1987, still transports diners to a southern despite being off the beaten truck stop. Coffee Shop, added in 1990, track, Mazzat has built up a base of s the city’s first restaurant featuring the cuisine of the continues to offer Brazilian cuisine on loyal clients who appreciate the East European nation of Georgia, Tbilisi built a reputation for Union Square. Luna Park, an outdoor eatery’s moderate prices (from $6 Aauthentic food and ambiance after it opened in Brooklyn’s for a meal-size sandwich to $17 for Gravesend neighborhood in 1999. But by the time Khatuna eatery opened in Union Square Park in main dishes) and the wide variety Baghaturia bought it early last year, the beloved spot’s prestige—and 1997, maintains its European-café roots. of tapas. Regulars swear the falafel most of its business—had faded away, victims of poor management “If you have a classic, you don’t need to is the crispiest in town. and so-so cuisine. The two-year-old Fairway Ms. Baghaturia quickly discovered that restoring lost glory can be change it,” Mr. Milite says. Gotham City supermarket nearby has been more challenging than starting fresh. But Tbilisi, which has a staff of Restaurant Group, which boasts 400 generating some traffic for Mazzat, five, including her, is again a favorite among Russian and Armenian employees, posted revenues of about and Mr. Bakhoum says his new ex-pats.The owner projects revenues of more than $400,000 this year. listing on restaurant.com. is also $20 million last year. getting good response. HITS Everything old is new again HITS warm-weather venue must be con- MISSES loans of $25,000 from Chase Bank and $35,000 from New York Sticking to the plan tinually restaffed. “It’s like opening Neighborhood not quite there Association for New Americans helped finance a complete overhaul, mr. milite credits the eateries’ a new restaurant every single sum- a year from now, Mr. Bakhoum from pipes to place mats. “Everything, we bought new,” says Ms. longevity to the owners’ obsession mer,” Mr. Milite says. might look like a genius for siting Baghaturia, who previously worked as an office manager and whose with the small stuff. Bringing celebrity chefs has Mazzat in what remains an isolat- parents immigrated here from Georgia. “A lot of restaurants just open been popular with patrons but can ed dockside area on the fringes of Old customers were lured back by Ms. Baghaturia’s home-style the doors and hope for the best,” he go awry. affluent Carroll Gardens. renditions of Georgian staples such as satsivi (chicken in walnut says. Gotham’s partners envisioned One summer, the guest chef Fellow culinary pioneers have sauce) and khachapuri (similar to pizza). She also drew crowds by every detail—from décor and mu- created a menu that Mr. Milite de- opened Italian, Japanese and Mexi- extending hours “until after the last customer leaves,” usually well sic to the personalities of the wait- scribes as “inedible, full of esoteric can restaurants nearby. An Ikea is after midnight. staff—and honed each theme in entrées of the ‘acorn with also scheduled to open in the the planning stages. kumquats over braised squirrel’ va- neighborhood soon. MISSES The partners reject culinary riety.”The partners had to fire the But for now it’s a struggle. Beware the Health Department trendiness but respond to changing toque just days before Luna First-year revenues of roughly for the first year, Ms. Baghaturia advertised only in Russian-lan- tastes. “We tweak the menus” to opened for the season. $240,000 were only half of what guage media, and Tbilisi attracted little business outside the Georgian meet diners’ desire for healthy in- Mr. Bakhoum’s had targeted. community. An ad in the Brooklyn Yellow Pages appeared in Novem- gredients or Kobe beef, for exam- Mazzat is on Columbia, a quiet ber, and Ms. Baghaturia has begun to see a trickle of new customers. ple, Mr. Milite says. Mediterranean hits street, and several blocks from the The pace of renovation caught up with her in May, when a edgy Red Hook nearest subway stop. Department of Health inspector found a hole in the kitchen wall. MISSES “It’s not a high-traffic area like “My husband was coming that morning to install an air Summer guest chefs or 12 years, Jimmy Manhattan,” Mr. Bakhoum says. conditioning unit, which was on the floor next to the hole,” Ms. gotham’s headaches have largely Bakhoum has owned and Baghaturia says. “Still, they closed us down.” been confined to Luna Park. The Frun Café Rakka, a tiny Middle COMMENTS? [email protected]

IN A NUTSHELL Shoe seller steps up its act after reversal ENESLOW PEDORTHIC Continued from Page 19 among foot care professionals. It to open a second store in Queens. two interns.The company’s custom- enues were hitting new highs. also provides the umbrella company, The recession of 2001 had knocked made shoes can command prices as ENTERPRISES Later, he added an entirely new now dubbed Eneslow Pedorthic revenues down by $1 million. But high as $2,500 a pair. leg to Eneslow’s business by taking Enterprises Inc., with another the losses proved fleeting as Mr. “Luckily,because of our focus on FOUNDED 1926 by the company into the service sector. source of income. Schwartz began adding trendy new comfort, we’re less affected when Nat and Sol Low In 1995, he opened the Eneslow The money comes from a precer- shoe lines like Masai Barefoot Tech- [the economy] goes down,”says Mr. PURCHASED Pedorthic Institute, which today tification course for future pedor- nology, which was invented by a Schwartz. The institute and Enes- 1968 by Paul and employs six people part-time and thists offered by the institute, as well Swiss engineer and is currently low’s Web site, launched about nine Charles Schwartz contributes about 10% of the com- its consumer seminars and certified Eneslow’s top-selling brand. More years ago, also have helped the com- pany’s total annual revenues of near- shoe-fitter classes. It will soon offer recently, he added an Italian brand, pany weather market cycles. STAFF 40, including 12 certified ly $10 million. online courses as well.Although EPI Thierry Rabotin, that proved an “Bob Schwartz has taken Enes- pedorthists was initially designed to train health overnight hit. low to the highest level of customer TOP-SELLING READYMADE Useful institute care professionals, Mr. Schwartz, service and public awareness,” says SHOE MBT, $235 to $275 a pair the industry defines pedorthics who previously worked in marketing Expansion mode Brian Lagana, executive director of as the design and making of shoes at International Playtex Corp., in 2006, after 20 years on Broadway the 50-year-old Washington-based TOP-SELLING CUSTOM and foot orthotics to alleviate prob- quickly realized it might have broad- and East 21st Street,Eneslow moved Pedorthic Footwear Association. FOOTWEARSandals, $1,200 to lems caused by everything from dis- er appeal. He also pitched its cours- to Park Avenue South and East 32nd “People aren’t just going to a shoe $1,500 a pair ease to overuse. The institute serves es to shoe fitters,medical equipment Street, increasing its space by 50% to store; they’re getting a real educa- REVENUES Women’s shoes are several purposes. It gives the flag- salesmen and interested consumers. 15,000 square feet. It also expanded tion in footwear.” 75% of total ship Eneslow store in Manhattan By 2003, business was good its custom-made department, where

istockphoto higher visibility and credibility enough that Mr. Schwartz was able it currently has seven employees and COMMENTS? [email protected]

22 | Crain’s New York Business | February 11, 2008 CNYB 02-11-08 A 23 2/7/2008 12:26 PM Page 1

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HOW-TO 6 steps for forging links to chains

“The cost of entry is high, but there hibit at trade shows that chain-store at chain stores. Some companies, Careful research, is not a better way to build a brand.” buyers attend. such as Wal-Mart, have a supplier It’s tough for small businesses to “We were able to break into the application package. Plan to be good buzz, cold become a supplier to the big chains, chains by exhibiting at the Fancy persistent. If scores of e-mails or but it is hardly impossible. Follow Food Show,” says F.W. Pearce, chief phone calls go unanswered, hire a calls yield results these steps to try. executive of New Jersey-based Ciao broker, who will take a 5% to 7% Bella Gelato Co., which sells gelato commission to pitch the product. BY TINA TRASTER GEARED UP: STEP 1 to Whole Foods, Safeway and oth- Use industry associations to locate Gigi Lee Study up. ers. Cracking the chain market brokers with good track records. Chang’s organic hen gigi lee helped grow the company’s annual Also, find out if companies baby food is Chang started ask these questions: Does the revenues to $4.7 million last year, have a monthly, quarterly or an- now sold in whipping up product fill an unmet need? How from $500,000 in 2003. nual open-vendor days where 700 stores. healthy baby food will the product wow the retail prospective vendors can schedule combinations for chain’s buyer? Is there a logical fit STEP 3 30-minute appointments. buck ennis herW son, she knew she had a viable between this product and the target Get a buzz going. nightmare if a business lacks capital, product for Whole Foods Market chain’s product mix? Does it make STEP 5 staff or infrastructure to handle it. and other natural food chains. That more sense to sell directly to the getting publicity is a great way to Look into local options. Make sure the company’s manufac- conviction led Ms. Chang to quit chain or license the product to a get noticed by chain store buyers. turer and other suppliers can ramp her marketing job in 2005 and spend manufacturer that will distribute it? Pass the product around to television many large retailers have local up their numbers without sacrific- the next six months researching the network scouts, editors at consumer purchasing programs to test-market ing quality or deadlines. baby food business and raising $1 STEP 2 magazines and celebrities’ agents. products.Sometimes a local manag- A small business making hand- million in startup capital. Build a case. There’s no better boost than a shot of er’s approval is all that is needed. crafted candles will be awfully hard- Today, Ms. Chang’s Plum Or- Angelina Jolie in People magazine See if the retailer offers any spe- pressed to fill a million-unit order ganics line is sold in 700 stores, in- establish a track record and toting a company’s diaper bag, or cial opportunities such as local ven- from a Target, Wal-Mart or Whole cluding Whole Foods and Gris- build brand identity at small retail- having Oprah put a company’s prod- dor programs that serve as an entrée Foods. Partner with contract manu- tedes. “You have to know your ers, specialty mail-order companies uct on her holiday favorites list. to regional markets. facturers in the United States or product, know its story, and then and online sellers before going to the overseas that can take samples or rely on every kind of expert to get chains. Doing this buys time to get STEP 4 STEP 6 prototypes and produce them in the product in front of buyers at the market feedback and recoup some of Go to the source. Get ready. large quantities. chains,” says Manhattan-based Ms. the company’s investment before Chang, who has yet to turn a profit. gearing up for mass production.Ex- call buyers or category managers a big order from a chain can be a COMMENTS? [email protected]

February 11, 2008 | Crain’s New York Business | 23 nb06p24_25cls_alt.qxp 2/7/08 12:21 PM Page 24

ACCOUNTING PUBLIC & LEGAL NOTICES

UNITED STATES BANKRUPTCY COURT MADISON HOTEL LLC Articles of Org. filed NY Notice of Qualification of Phallus LLC. NOTICE OF FORMATION OF LIMITED LIABILITY SOUTHERN DISTRICT OF NEW YORK Sec. of State (SSNY) 12/12/07. Office in NY Authority filed with Secy. of State of NY COMPANY. NAME: MEGA EQUITY LLC. x In re Chapter 7 Co. SSNY desig. agent of LLC upon whom (SSNY) on 11/8/07. Office location: NY Articles of Organization were filed with the WASHINGTON HJ, LLC, Case No.: 07-11037 (MG) process may be served. SSNY shall mail copy County. LLC formed in Delaware (DE) on Secretary of State of New York (SSNY) on Debtor. x NOTICE OF LAST DATE TO FILE CLAIMS of process to c/o Arthur J.Israel, 260 Madison 7/26/07. SSNY designated as agent of LLC 12/05/07. Office location: New York County. AND FILING OF SETTLEMENT AGREEMENT Ave., 17th Fl., NY, NY 10016. Purpose: Any upon whom process against it may be served. SSNY has been designated as agent of the TO THE CREDITORS OF THE ABOVE NAMED DEBTOR: lawful purpose. Principal business location: SSNY shall mail process to: c/o National LLC upon whom process against it may be BUSINESS SERVICES As a result of the administration of the debtor’s estate, a dividend 150 E. 52nd St., 10th Fl., NY, NY 10022. Registered Agents, Inc., 875 Ave of the served. SSNY shall mail a copy of process to creditors now appears possible. You are hereby advised of the Americas, Ste 501, NY, NY 10001. Address to to the LLC, 545 West 111th Street, #7C, opportunity to file a claim in order to share in any distribution. be maintained in DE: 160 Greentree Dr., Ste New York, New York 10025. Purpose: For PROOF OF CLAIM Notice of Formation of Steve McCurry Studios, A creditor must file a whether or not the debt 101, Dover, DE 19904. Arts. of Org. filed with any lawful purpose. is included in the list of creditors filed by the debtor. LLC. Arts. of Org. filed with Secy. of State DE Secy. Of State,401 Federal St., Ste 4.,Dover, The PROOF OF CLAIMmust be filed on or before April 1, 2008. of NY (SSNY) on 12/17/07. Office location: If you have a PROOF OF CLAIM on file or one has been filed NY Co. SSNY designated as agent of LLC DE 19901. Purpose: any lawful activities. Notice of Qualification of Morgan Evergreen, on your behalf, do not file again. Your PROOF OF CLAIM must upon whom process against it may be served. LLC. Authority filed with NY Dept. of State on conform substantially to Official Bankruptcy Form No. 10, which SSNY shall mail process to:Delaney Corporate Notice of Formation of E 46 Group LLC. may be obtained at. 1/8/08. Office location: NY County. LLC Services LTD, 41 State St., Ste 405, Albany, Articles of Organization filed with the Secretary All PROOFS OF CLAIM for the above named debtor are to be formed in Delaware (DE) on 9/6/07. NY Secy. filed with the court at the United States Bankruptcy Court, NY 12207. Purpose: any lawful activities. of State of New York on 10/09/07. Office of State designated as agent of LLC upon Southern District of New York, 1 Bowling Green, Room 534, New Location: New York County. Secretary of State whom process against it may be served and York, New York 10004. Notice of Formation of 393 Lefferts Partners, of New York designated as agent of LLC upon shall mail process to the principal business The Chapter 7 Trustee, Richard O’Connell (the “Trustee”), has whom process against it may be served. address of the LLC: 845 UN Plaza, Ste. 59A, FINANCIAL SERVICES reached a settlement (“SETTLEMENT AGREEMENT”) with Jack LLC. Arts. of Org. filed with Secy. of State of N.Y. (SSNY) on 6/8/07. Office location: Secretary of State of New York shall mail NY, NY 10017. DE address of LLC: 2711 Lefkowitz (“Lefkowitz”), principal of the Debtor, and Massey process to: Marcus Attorneys 13 Greene FINANCIAL SERVICES Knakal Realty of Manhattan LLC (“Massey Knakal”), a creditor. NY County. SSNY designated as agent of Centerville Rd., Ste. 400, Wilmington, DE Visit our Website: The Trustee will move for the Court’s approval of the LLC upon whom process against it may be Avenue Brooklyn, New York 11238. Principal 19808. Arts. of Org. filed with DE Secy. of SETTLEMENT AGREEMENT, which provides: office location: 500 Broome Street, 2nd Floor, www.advantagefunding.com served. SSNY shall mail process to: 302 State, 401 Federal St., Dover, DE 19901. 1. Lefkowitz will pay the Trustee $315,000 to settle all claims of Fifth Ave., 8th Fl., NY, NY 10001. Purpose: New York, NY 10013. Purpose: Any lawful Purpose: any lawful activity. Trustee and Massey Knakal against him and affiliated activity. TURN YOUR INVOICES companies, $5,000 of which is being used to publish this any lawful activity. INTO IMMEDIATE notice. Notice of Formation of BMG Operating LLC. 2. The Trustee will pay $200,000 to Massey Knakal in full and Notice of Formation of Betsy F. Perry LLC. Notice of Qualification of Terra-Gen Operating Arts. of Org. filed with Secy. of State of NY CASH final satisfaction of its claims and judgment of $381,001. Holdings, LLC. Authority filed with Secy. of • Cash within 24 hours • We assume the credit risks Arts. of Org. filed with Secy. of State of N.Y. (SSNY) on 12/11/07. Office location: NY 3. The balance of $315,000 will be paid to Trustee for statutory (SSNY) on 12/18/07. Office location: NY State of N.Y. (SSNY) on 11/30/07. Office County. SSNY designated as agent of LLC • No term contracts to sign • Bank to Bank transfer of funds commissions and to his counsel for fees and expenses, as County. SSNY designated as agent of LLC location: NY County. LLC formed in Delaware upon whom process against it may be served. approved by the Court, which they have agreed to cap at this (DE) on 8/13/07. SSNY designated as agent Call Jeff Farkas balance. upon whom process against it may be served. SSNY shall mail process to principal business Toll Free of LLC upon whom process against it may 4. For the SETTLEMENT AGREEMENT to be effective, (i) it must SSNY shall mail process to principal business location: David Oved, 31 W. 34th St., 3rd Fl., be served. SSNY shall mail process to: 80 ADVANTAGE FUNDING CORP. 1-800-241-CASH be approved by Court; (ii) the remaining 4 claims listed in the location: c/o Ms. Betsy F. Perry, 211 E. 70th NY, NY 10001. Purpose: wholesale clothing. petition will be withdrawn; and (iii) in the event any further State St., Albany, NY 12207, Attn: Corporation claims are filed before the Bar Date and are not withdrawn St.,NY,NY10065. Purpose: business strategic planning and any other purposes permitted by Service Company, registered agent upon or resolved to the satisfaction of the Trustee, or the creditors whom process may be served. DE address Notice of Qualification of BS N961DL LLC. EXECUTIVE who filed such claims have not consented to the dismissal of applicable law. Authority filed with NY Dept. of State on the bankruptcy, then the Settlement Agreement, according of LLC: 2711 Centerville Road, Ste. 400, RECRUITER to its terms, becomes null and void. Wilmington, DE 19808. Arts. of Org. filed with 12/17/07. Office location: NY County. Principal The SETTLEMENT AGREEMENT has been filed with the Court Notice of Qualification of Ame Ame LLC. DE Secy. of State, Townsend Bldg., Dover, DE business address: 383 Madison Ave., NY, NY as an exhibit to the application for publication of this Notice Authority filed with Secy. of State of N.Y. 19901. Purpose: any lawful activity. 10179. LLC formed in Delaware (DE) on POSITION AVAILABLE and may be obtained from Michael S. Devorkin, Esq., Golenbock (SSNY) on 12/12/07. Office location: NY 12/12/07. NY Secy. of State designated as Eiseman Assor Bell & Peskoe, LLP, 437 Madison Avenue, New County. LLC formed in Delaware (DE) on agent of LLC upon whom process against it Position for the Night Manager York, NY 10022. Notice of Qualification of CT Opportunity Dated: New York, New York, BY ORDER OF THE COURT 12/5/07. SSNY designated as agent of LLC Partners I, LP. Authority filed with NY Dept. of may be served and shall mail process to: c/o Direct and coordinate activities of businesses February 11, 2008 upon whom process against it may be served. State on 11/27/07. Office location: NY County. CT Corporation System, 111 8th Ave., NY, concerned with the production, pricing, sales, SSNY shall mail process to principal business LP formed in Delaware (DE) on 9/28/07. NY NY 10011, registered agent upon whom location: The LLC, c/o Charles Brian O’Kelley, process may be served. DE address of LLC: and distribution of products. Manage staff, Notice of Formation of BLUE SEA Secy. of State designated as agent of LP upon CONSTRUCTION CO. LLC formerly Bluestone 63 Lispenard St., Apt. 2A, NY, NY 10013. DE whom process against it may be served and c/o Corporation Trust Co., 1209 Orange St., preparing work schedules and assigning specific Seavey Builders & Developers LLC. Arts. of address of LLC: Corporation Service shall mail process to the principal business Wilmington, DE 19801. Arts. of Org. filed with duties. Establish and implement store policies, Org. filed with Secy. of State of N.Y. (SSNY) Company, 2711 Centerville Road, Ste. 400, address: c/o Capital Trust, Inc., 410 Park DE Secy. of State, Div. of Corps., Townsend Wilmington, DE. Arts. of Org. filed with DE Bldg.,Dover, DE 19901. Purpose: any lawful goals, objectives, and procedures, conferring on 3/17/1999. Office location: NY County. Ave., NY, NY 10022. DE address of LP: c/o SSNY designated as agent of LLC upon whom Secy. of State, P.O. Box 898, Dover, DE 19903. Corporation Trust Co., 1209 Orange St., activity. with the management, and staff members as process against it may be served. SSNY Purpose: all lawful acts and activities. Wilmington, DE 19801. Name/address of necessary. Determine staffing requirements, shall mail process to: Three Park Avenue, genl. ptr. available from NY Secy. of State. NOTICE OF FORMATION OF LIMITED LIABILITY and interview, hire and train new employees, NY, NY 10016. Purpose: any lawful activity. Notice of Qualification of Nico Holdings LLC. Cert. of LP filed with DE Secy. of State, 401 COMPANY. NAME: HBS FOOD LLC. Articles of Authority filed with NY Dept. of State on Organization were filed with the Secretary of or oversee those personnel processes. Send Federal St., Dover, DE 19901. Purpose: any Notice of Formation of E.D.O. Food IV, LLC. 1/17/08. NYS fictitious name: NH New York lawful activity. State of New York (SSNY) on 06/29/07. The resume to: 1955 Donuts, 53 Victory Blvd, Arts. of Org. filed with NY Dept. of State on LLC. Office location: NY County. Principal latest date of dissolution is 12/31/2107. Office Staten Island, NY 10301 12/14/07. Office location: NY County. Secy. business address: 311 S. Wacker Dr., Chicago, NOTICE OF FORMATION OF CarbonNeutrality location: New York County. SSNY has been of State designated as agent of LLC upon IL 60606. LLC formed in Delaware (DE) on LLC. Article of Organization filed with the designated as agent of the LLC upon whom POSITION AVAILABLE whom process against it may be served and 12/20/07. NY Secy. of State designated as Secretary of State of NY(SSNY)on11/02/2007. process against it may be served. SSNY shall mail process to the principal business agent of LLC upon whom process against it Office location NEW YORK County. SSNY shall mail a copy of process to the LLC, 580 Grants Coordinator for Youth Dvlpmnt address of the LLC: 5134 Broadway, NY, NY may be served and shall mail process to: c/o has been designated as agent upon whom Fifth Avenue, Suite 708, New York, New York org. Duties include tracking empl time allocated 10034. Purpose: any lawful activity. CT Corporation System, 111 8th Ave., NY, NY process against it may be served. The Post 10036. Purpose: For any lawful purpose. to gov’t & other funding sources; prep 10011, registered agent upon whom process Office address to which the SSNY shall mail a mthly/qurtrly grant financial rprts; daily bank Notice of Formation of CCM Property may be served. DE address of LLC: 1209 copy of any process against the LLC served Notice of Qualification of Rothford Records, deposits, prep related journal entries; assist w/ Management LLC, Art. of Org. filed Sec'y of Orange St., Wilmington, DE 19801. Arts. upon him/her is C/O the LLC 10 East 39th St.. LLC. Authority filed with Secy. of State of reconciliations, financial reporting & analyses; State (SSNY) 12/4/07. Office location: NY of Org. filed with DE Secy. of State, 401 New York, NY 10016. Purpose of LLC: to NY (SSNY) on 1/16/08. Office location: NY track financial reports; ensure completeness of County. SSNY designated as agent of LLC Federal St., Dover, DE 19901. Purpose: engage in any lawful act or activity. Street County. LLC formed in Delaware (DE) on grants. BA/BS a must; exclnt oral & written upon whom process against it may be served. any lawful activity. address of Principal Business location is: 10 1/8/08. SSNY designated as agent of LLC comm; prof. w/ MS Excel, detail oriented, high SSNY shall mail copy of process to c/o East 39th St.. New York, NY 10016. upon whom process against it may be served. level of efficiency & org a must. Non-profit Cayuga Capital Management LLC, 331 W. Notice of Qualification of Highbridge Principal SSNY shall mail process to: c/o Marc Roth, exper a +. F/T. Low-to-mid $40K. Generous 57th St., Ste. 301, NY, NY 10019. Purpose: Strategies Mezzanine Partners Offshore GP, Notice of Qualification of IA Orchard Hotels 400 E. 56th St., Apt. 190, NY, NY 10022. benefits pkg. Email cvr ltr & resume in Word any lawful activities. L.P. Authority filed with NY Dept. of State on Westbury, L.L.C. Authority filed with NY Dept. Address to be maintained in DE: 160 Greentree doc to: [email protected] 12/14/07. Office location: NY County. LP of State on 11/29/07. Office location: NY Dr., Ste 101, Dover, DE 19904. Arts. of Org. Notice of Formation of 160 Jamaica Realty formed in Cayman Islands (CI) on 11/8/07. County. Principal business address: 2901 filed with DE Secy. Of State, 401 Federal LLC. Arts. of Org. filed with Secy. of State NY Secy. of State designated as agent of LP Butterfield Rd., Oak Brook, IL 60523. LLC St., Ste 4., Dover, DE 19901. Purpose: any REAL ESTATE of N.Y. (SSNY) on 5/3/07. Office location: upon whom process against it may be formed in Delaware (DE) on 11/16/07. NY lawful activities. NY County. SSNY designated as agent of served and shall mail process to the principal Secy. of State designated as agent of LLC AUCTION LLC upon whom process against it may be business address: 9 W. 57th St., 27th Fl., upon whom process against it may be served Notice of Qualification of THOR 34TH LLC. served. SSNY shall mail process to: c/o NY, NY 10019. CI address of LP: M&C and shall mail process to: c/o CT Corporation Authority filed with Secy. of State of N.Y. REAL ESTATE AUCTION Conway Stores, Inc., 1333 Broadway, NY, Corporate Services Ltd., P.O. Box 309GT, System, 111 8th Ave., NY, NY 10011,registered (SSNY) on 1/15/08.Office location: NY County. 2-DAYS • “MULTI-MILLION DOLLAR” NY 10018, Attn: Richard Cohen. Purpose: Ugland House, S. Church St., George Town, agent upon whom process may be served. DE LLC formed in Delaware (DE) on 1/15/08. Grand Cayman, CI. Name/address of genl. SSNY designated as agent of LLC upon DAY 1: FRI., FEB. 29, 7 P.M. any lawful activity. address of LLC: 1209 Orange St., Wilmington, REGISTRATION: 5:30 P.M. ptr. available from NY Secy. of State. Cert. DE 19801. Arts. of Org. filed with DE Secy. of whom process against it may be served. THE DESMOND HOTEL Notice of Formation of Bayles Resource LLC. of LP filed with Registrar of Exempted LPs, State, 401 Federal St., Dover, DE 19901. SSNY shall mail process to: c/o Thor Equities, ALBANY SHAKER RD, ALBANY, N.Y. Arts. of Org. filed with NY Dept. of State on Citrus Grove Bldg., George Town, Grand Purpose: any lawful activity. LLC, 25 W. 39th St., NY, NY 10018. DE address of LLC: National Registered Agents, DAY 2: SAT., MAR. 1, 10 A.M. 1/7/2008. Office location: NY County. Secy. of Cayman, CI. Purpose: any lawful activity. REGISTRATION: 8:30 A.M. State designated as agent of LLC upon whom Notice of Formation of BRONSTEIN, VAN Inc., 160 Greentree Drive, Ste. 101, Dover, DE HOLIDAY INN TURF process against it may be served and shall Notice of Formation of FEMTO CAPITAL LLC, VEEN & SCHUCK, LLC, a domestic Limited 19904. Arts. of Org. filed with DE Secy. of WOLF ROAD, ALBANY, N.Y. mail process to: c/o Casey C. Bayles, 1065 a domestic Limited Liability Company. Arts. of Liability Company. Arts. of Org. filed with State, 401 Federal St., Ste. 4, Dover, DE Park Ave., NY, NY 10128, principal business Org. filed with the SSNY on 09/25/07. Office the SSNY on 12/10/07. Office location: NY 19901. Purpose: any lawful activity. 178+ PROPERTIES address of the LLC. Term: until 12/31/2099. location: NYCounty. SSNY has been designated County. SSNY has been designated as agent THROUGHOUT NY, VT, OH, SC, FL & TX Purpose: any lawful activity. as agent upon whom process against the LLC upon whom process against the LLC may Notice of Qualification of EALC LLC. Authority “MANY SELL ABSOLUTE TO THE HIGHEST BIDDER” may be served. SSNY shall mail a copy of be served. SSNY shall mail a copy of process filed with Secy. of State of N.Y. (SSNY) on Prime Waterfront Homes & Land On Saranac Lake, Lake George, Great Sacandaga Lake, Woodland Lake, Notice of Qualification of MRA Opportunities process to: The LLC, 10 Downing St., #3W, to: The LLC, 152 West 57th St., NY, NY 12/28/2007. Office location: NY County. Principal Mariaville Lake, Hudson Riverfront Comm’l & Resid. Fund LP, App. for Auth. filed Sec'y of State NY, NY 10014. Purpose: Any Lawful Purpose. 10019. Purpose: Any Lawful Purpose. business location: 150 E. 58th St., NY, NY Properties, Multi-Fam. Apt Bldgs, Comm’l & Ind’l (SSNY) 8/27/07. Office location: NY County. 10155. LLC formed in Delaware (DE) on Bldgs/ Whse, Lg. Parcels Land, Major Approved Subdivisions, Vacant Lots & Many Add’l Properties. LP org. in DE 8/7/07. SSNY designated as Notice of Formation of NYD ASC Management, Notice of Formation of LUCKY 2 LOGISTICS, 7/16/1990. SSNY designated as agent of LLC www.collarcityauctions.com agent of LP upon whom process against it LLC. Arts. of Org. filed with NY Dept. of State LLC. Arts. of Org. filed with Secy. of State upon whom process against it may be served. Call For Brochure may be served. SSNY shall mail copy of on 12/12/07. Office location: NY County. Secy. of N.Y. (SSNY) on November 30, 2007. SSNY shall mail process to: c/o Corporation process to Attn: J. Tomilson Hill, 345 Park of State designated as agent of LLC upon Office location: New York County. SSNY Service Company (CSC), 80 State St., Albany, Ave., NY, NY 10154. DE office addr.: c/o CSC, whom process against it may be served and designated as agent of LLC upon whom NY 12207. DE address of LLC: c/o CSC, 2711 2711 Centerville Rd., Wilmington, DE 19808. shall mail process to: c/o CT Corporation process against it may be served. SSNY Centerville Rd., Ste. 400, Wilmington, DE Name/addr. of each gen. ptr. avail. at SSNY. System,111 8th Ave.,NY, NY 10011, registered shall mail process to: The LLC, 153 West 19808. Arts. of Org. filed with DE Secy. of Email: [email protected] Cert. of LP on file: SSDE, Townsend Bldg., agent upon whom process may be served. 27th Street, New York, NY 10001. Purpose: State, Townsend Bldg., Dover, DE 19901. (518) 895-8150 x 101 Dover,DE19901. Purpose: any lawful activities. Purpose: any lawful activity. any lawful activity. Purpose: any lawful activity.

24 | Crain’s New York Business | February 11, 2008 nb06p24_25cls_alt.qxp 2/7/08 12:22 PM Page 25

PUBLIC & LEGAL NOTICES

Notice of Qualification of Amber Latin Notice of Formation of FlatIron Rentals, LLC. Notice of Qualification of Grand Avenue Notice of formation of 135 West 13, LLC. Arts. Notice of Formation of a Limited Liability American Investments LLC, App. for Auth. Arts.of Org. filed with Secy. of State of N.Y.(SSNY) L.L.C. Authority filed with Secy. of State of of Org. filed with the Sect’y of State of NY Company (LLC): Name: Basser & Bigio LLC.; filed Sec'y of State (SSNY) 12/3/07. Office on 10/26/05. Office location: NY County. SSNY N.Y. (SSNY) on 12/12/07. Fictitious Name (SSNY) on 11/28/2007. Office location, county Articles. of Organization filed with Secy. of location: NY County. LLC org. in DE 12/12/06. designated as agent of LLC upon whom in NY State: 37 Grand Avenue LLC. Office of New York. The street address is: 26 East State of NY (SSNY) on 10/30/2006. Office SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall location: NY County. LLC formed in Delaware 10th Street, #4C, New York, NY 10003. SSNY location: NY County. SSNY designated as process against it may be served. SSNY shall mail process to: The LLC, c/o Stein deVisser (DE) on 12/3/07. SSNY designated as agent has been designated as agent of the LLC upon agent of LLC upon whom process against it mail copy of process to Attn: Jed Rubin, 153 & Mintz, P.C. , 29 W. 38th Street, 14th Fl., NY, of LLC upon whom process against it may whom process against it may be served. may be served. SSNY shall mail process to: E. 53rd St., 57th Fl., NY, NY 10022. DE NY 10018. Purpose: any lawful activity. be served. SSNY shall mail process to: c/o SSNY shall mail process served to: The LLC, c/o Basser & Bigio LLC, 648 Broadway, NY, office addr.: c/o CSC, 2711 Centerville Rd., Corporation Service Company (CSC), 80 26 East 10th Street, #4C, New York, NY NY 10012. Purpose: any lawful act or activity. Wilmington, DE 19808. Cert. of Form. on file: Name: AESTHETIX, LLC Art. Of Org. Filed State St., Albany, NY 12207. DE address of 10003. Purpose: any legal act LLC is to dissolve: No specific date. SSDE, Townsend Bldg., Dover, DE 19901. Sec. Of State NY 12/21/07. Off. Loc.: New LLC: c/o CSC, 2711 Centerville Road, Ste. 400, Purpose: any lawful activities. York Co. SSNY designated as Agent upon Wilmington, DE 19808. Arts. of Org. filed Notice of Formation of 1903 WEST FARMS, Notice of Formation of TWT 44, LLC. Arts. of whom process against it may be served. with DE Secy. of State, P.O. Box 898, Dover, LLC. Arts. of Org. filed with Secy. of State Org. filed with NY Dept. of State on 11/19/07. Notice of Qualification of BR 1355 First Avenue SSNY to mail copy of process to THE LLC, DE 19903. Purpose: any lawful activity. of N.Y. (SSNY) on 10/12/07. Office location: Office location: NY County. Principal business 11, LLC. Authority filed with NY Dept. of State c/o Parkmed/ Eastern Women’s Center, 800 New York County. SSNY designated as agent address: 845 United Nations Plaza, Unit #44C on 10/10/07. Office location: NY County. LLC Second Ave., 7th Flr., New York, NY 10017. Notice of Registration of Sanders, Ortoli, of LLC upon whom process against it may NY,NY 10017. Secy.of State designated as agent formed in Delaware (DE) on 10/5/07. NY Secy. Purpose: Any lawful act Vaughn-Flam Rosenstadt LLP. Certificate filed be served. SSNY shall mail process to: c/o of LLC upon whom process against it may be of State designated as agent of LLC upon with Secy. of State of NY (SSNY) on 5/30/07. Drechsler & Drechsler LLP, 60 E 42nd St., served and shall mail process to: Flicker, whom process against it may be served and Notice of Qualification of Capstone Real Estate Office location: NY County. SSNY designated Ste. 1463, New York, NY 10165. Purpose: Garelick & Associates, LLP, 45 Broadway, 21st shall mail process to: c/o Bluerock Real Estate, Management, LLC. Authority filed with Secy. as agent of LLP upon whom process against any lawful activity. Fl., NY, NY 10006. Purpose: any lawful activity. LLC, 680 5th Ave., 16th Fl., NY, NY 10019, of State of N.Y. (SSNY) on 11/5/07. Office it may be served. SSNY shall mail process to: principal business address of the LLC. DE location: NY County. LLC formed in Delaware 501 Madison Ave., 14th Fl., NY, NY 10022. Notice of Qualification of AG Capital Recovery Notice of Formation of Caroline Apartments address of LLC: c/o Corporation Service Co., (DE) on 5/10/07. SSNY designated as agent Purpose: practice the profession of law. Partners VI, L.P. Authority filed with Secy. of Developer, LLC. Arts. of Org. filed with Secy. 2711 Centerville Rd., Ste. 400, Wilmington, DE of LLC upon whom process against it may be State of N.Y. (SSNY) on 12/13/07. Office of State of NY (SSNY) on 12/19/07. Office 19808. Cert. of Form. filed with DE Secy. of served. SSNY shall mail process to: 1350 Notice of Formation of 330 Investors, LLC. Arts. location: NY County. Principal business location: NY County. Principal business State,P.O.Box 898, Dover, DE 19901.Purpose: Avenue of the Americas, 24th Fl., NY, NY of Org. filed with Secy. of State of NY (SSNY) location: 245 Park Ave.,26th Fl., NY,NY 10167. location: 60 Columbus Circle, NY, NY 10023. any lawful activity. 10019. DE address of LLC: Capstone Real on 12/17/07. Office location: NY County. LP formed in Delaware (DE) on 10/18/07. SSNY designated as agent of LLC upon Estate Management, LLC, c/o The Company Principal business location: 1330 Avenue of SSNY designated as agent of LP upon whom Corporation, 2711 Centerville Road, Ste. 400, whom process against it may be served. Notice of Qualification of BR 1355 First Avenue the Americas, 23rd Fl., NY, NY 10019. SSNY process against it may be served. SSNY shall SSNY shall mail process to: c/o Corporation 18 Tier I Member, LLC. Authority filed with NY Wilmington, DE 19808. Arts. of Org. filed with designated as agent of LLC upon whom mail process to: c/o Corporation Service DE Secy. of State, 401 Federal St., Ste. 4, Service Company, 80 State St., Albany, NY Dept. of State on 10/15/07. Office location: NY process against it may be served. SSNY shall Company (CSC), 80 State St., Albany, NY 12207. Purpose: any lawful activity. County. LLC formed in Delaware (DE) on Dover, DE 19901. Purpose: any lawful activity. mail process to: Edward D. Feldstein, Esq., 10 12207, registered agent upon whom process 10/5/07. NY Secy. of State designated as agent Weybosset St., 8th Fl., Providence, RI 02903. may be served. DE address of LP: c/o CSC, of LLC upon whom process against it may be GHION ENTERPRISES, LLC, a domestic Limited Purpose: any lawful activity. 2711 Centerville Road, Wilmington, DE 19808. Name of LLC: SEAPORT GROUP LEASING, served and shall mail process to: c/o Bluerock Liability Company (LLC), filed with the Sec Name/address of each genl. ptr. available from LLC. Articles of Org. filed Dept. of State of NY Real Estate, LLC, 680 5th Ave., 16th Fl., NY, of State of NY (SSNY) on 11/8/07. NY Office SSNY. Cert. of LP filed with DE Secy. of State, on 12/28/07. Office location in NY: New York Notice of Qualification of 1225 Realty Owner County. Principal bus. loc. 360 Madison NY 10019, principal business address of the location:NEWYORKCounty.SSNYis designated LLC. Authority filed with Secy. of State of Townsend Bldg., Dover, DE 19901. Purpose: LLC. DE address of LLC: c/o Corporation as agent upon whom process against the any lawful activity. Avenue, 22nd Floor, New York, NY 10017. N.Y. (SSNY) on 1/22/08. Office location: NY Secy. of State designated as agent of LLC Service Co., 2711 Centerville Rd., Ste. 400, LLC may be served. SSNY shall mail a County. LLC formed in Delaware (DE) on Wilmington, DE 19808. Cert. of Form. filed copy of any process against the LLC served upon whom process against it may be served. 3/23/07. SSNY designated as agent of LLC Notice of Qualification of Terra-Gen Geothermal Sec. of State shall mail a copy of process to with DE Secy. of State, P.O. Box 898, Dover, upon him/her to THE LLC, 34 MT. MORRIS upon whom process against it may be served. Power, LLC. Authority filed with Secy. of State DE 19901. Purpose: any lawful activity. PARK, NY, NY 10027. General purposes. 360 Madison Avenue, 22nd Floor, New York, SSNY shall mail process to principal business of N.Y. (SSNY) on 11/30/07. Office location: NY 10017. Purpose: (i) leasing and subleasing location: c/o The Cherit Organization, 404 Fifth NY County. LLC formed in Delaware (DE) on of real property; and (ii) any other lawful Notice of Formation of HAYS VENTURES, Notice of Formation of KNICKERBOCKER Ave., 5th Fl., NY, NY 10018. DE address of LLC: 7/5/07. SSNY designated as agent of LLC business activity. LLC. Arts of Org filed with Secy of State of PROPERTIES LLC. Arts. of Org. filed with c/o United Corporate Services, Inc.,874 Walker upon whom process against it may be served. NY (SSNY) on 08/13/2003. Office location: Secy. of State of NY (SSNY) on 1/3/08. Office Road, Ste. C, Dover, DE 19904. Arts. of Org. SSNY shall mail process to: 80 State St., New York County. SSNY designated as agent location: NY County. SSNY designated as filed with DE Secy. of State, Townsend Bldg., Albany, NY 12207, Attn: Corporation Service THE NUCLEUS GROUP LLC, a domestic of LLC, upon whom process against it may agent of LLC upon whom process against it Dover, DE 19901. Purpose: any lawful activity. Company, registered agent upon whom Limited Liability Company (LLC), filed with be served. SSNY shall mail process to: may be served. SSNY shall mail process to process may be served. DE address of LLC: the Sec of State of NY (SSNY) on 11/15/07. Richard J. Tufano, Esq., 475 Fifth Avenue, principal business location: c/o The Hudson Notice of Formation of AZ Zip Properties, LLC. 2711 Centerville Road, Ste. 400, Wilmington, NY Office location: NEW YORK County. Suite 1200, New York, NY 10017. Purpose: Companies, Inc., 826 Broadway, 11th Fl., NY, Arts. of Org. filed with NY Dept. of State on DE 19808. Arts. of Org. filed with DE Secy. of SSNY is designated as agent upon whom Real Estate service firm. NY 10003. Purpose: any lawful activity. 12/19/07. Office location: NY County. Principal State, Townsend Bldg., Dover, DE 19901. process against the LLC may be served. business address: 15 Central Park West, NY, Purpose: any lawful activity. SSNY shall mail a copy of any process against the LLC served upon him/her to THE HIGH ROAD APPAREL, LLC, Articles of Org. Notice of Formation of Red Apple Surf Realty NY 10023. Secy. of State designated as agent LLC, 5 TIMES SQUARE, 24TH FLR., NY, NY filed in N.Y. Sec. of State (SSNY) 15th day of II LLC. Arts. of Org. filed with Secy. of State of LLC upon whom process against it may be Notice of Formation of JESE APPAREL, 10036. General purposes. October, 2007. Office in New York Co. at 244 of NY (SSNY) on 1/2/08. Office location: NY served and shall mail process to: 8000 Walton LLC. Arts. of Org. filed with Secy. of State Fifth Avenue, Suite K218, New York, New York County. SSNY designated as agent of LLC Pkwy., Ste. 100, New Albany, OH 43054. of N.Y. (SSNY) on 8/27/07. Office location: 10001. SSNY design. agt. Upon whom upon whom process against it may be Purpose: any lawful activity. NY County. SSNY designated as agent of NOTICE OF FORMATION of Limited Liability process may be served. SSNY shall mail copy served. SSNY shall mail process to principal LLC upon whom process against it may be Company (LLC) Palladium Estates LLC. Arts. of process to 244 Fifth Avenue, Suite K218, business location: 823 Eleventh Ave., NY, NY NOTICE OF FORMATION OF LIMITED LIABILITY served. SSNY shall mail process to: c/o Of Org. filed with Secy. Of State of N.Y.(SSNY) New York, New York 10001. Reg. Agt upon 10019, Attn: John A. Catsimatidis. Purpose: COMPANY. NAME: GS ASSETS LLC. Articles of Wachtel & Masyr, 110 E. 59th St., NY, NY on 1/14/08. Office location: New York County. whom process may be served: Spiegel & any lawful activity. Organization were filed with the Secretary of 10022. Purpose: any lawful activity. SSNY designated as agent of LLC upon whom Utrera, P.A., P.C. 1 Maiden Lane, NYC 10038 State of New York (SSNY) on 03/26/07. Office process against it may be served. SSNY shall 1 800 576-1100 Purpose: Any lawful purpose. Name of LLC: Seaport Group Realty, LLC. location: New York County. SSNY has been Notice of Qualification of Longacre HP GP, mail process to: C/O the LLC, 325 East 41st Articles of Org. filed Dept. of State of NY on designated as agent of the LLC upon whom LLC. Authority filed with Secy. of State of Street, #305, NY, NY 10017. Principal business Notice of Formation of 2655 Frederick Douglas December 5, 2007. Office location in NY: New process against it may be served. SSNY shall N.Y. (SSNY) on 12/19/07. Office location: location: 325 East 41st Street, #305, NY, LLC. Arts. of Org. filed with Secy. of State of York County. Principal bus. loc. 360 Madison mail a copy of process to the LLC, 423 Clay NY County. Principal business location: NY 10017. Purpose: any lawful activity. N.Y. (SSNY) on 1/8/08. Office location: NY Avenue, 22nd Floor, New York, NY 10017. Pitts Road, East Northport, New York 11731. Longacre HP GP, LLC, 810 Seventh Ave., County. SSNY designated as agent of LLC Secy. of State designated as agent of LLC Purpose: For any lawful purpose. 22nd Fl., NY, NY 10019. LLC formed in Notice of Qualification of Stonehenge Fund upon whom process against it may be served. upon whom process against it may be served. Delaware (DE) on 11/13/07. SSNY designated III Promote LLC, App. for Auth. filed Sec'y SSNY shall mail process to principal business Sec. of State shall mail a copy of process to Notice of Formation of Skyview Vista LLC. as agent of LLC upon whom process against of State (SSNY) 12/10/07. Office location: location: c/o The LLC, 146 W. 57th St., NY, NY 360 Madison Avenue, 22nd Floor, New York, Arts. of Org. filed with NY Dept. of State on it may be served. SSNY shall mail process NY County. LLC org. in DE 10/11/07. SSNY 10019. Purpose: any lawful activity. NY 10017. Purpose: (i) to act as a real estate 11/13/07. Office location: NY County. Secy. to: c/o CT Corporation System, 111 8th designated as agent of LLC upon whom brokerage company; and (ii) any other lawful of State designated as agent of LLC upon Ave., NY, NY 10011, registered agent upon process against it may be served. SSNY BRIDGE LEADERSHIP GROUP LLC, a domestic business activity. whom process against it may be served and whom process may be served. DE address shall mail copy of process to c/o Nat. Reg. Limited Liability Company (LLC). Articles of shall mail process to: c/o Marianne Schmitt of LLC: c/o The Corporation Trust Company, Agents, 875 Ave of the Americas, NY, NY Organization filed with the Secretary of State Name: KC 129-09, LLC Art. Of Org. Filed Sec. Hellauer, DLA Piper US LLP, 6225 Smith 1209 Orange St., Wilmington, DE 19801. 10001, the Reg. Agt. upon whom proc. may of NY (SSNY) on 1/23/07. NY Office location: Of State NY 12/11/03. Off.Loc,: New York Ave., Baltimore, MD 21209. Purpose: any Cert. of Form. filed with DE Secy. of State, be served. DE office addr.: 160 Greentree NEW YORK County. SSNY is designated as Co. SSNY designated as agent upon whom lawful activity. Townsend Bldg., Dover, DE 19901. Purpose: Dr., Dover, DE 19904. Cert. of Form. on file: agent upon whom process against the LLC process against it may be served. SSNY to any lawful activity. SSDE, Townsend Bldg., Dover, DE 19901. may be served. SSNY shall mail a copy of any mail copy of process to The LLC C/O Kevin D. NOTICE OF FORMATION OF 455 W43rd Realty, Purpose: any lawful activities. process against the LLC served upon him/her Kim, 235 E. 40th St., Ste. 9A, NY, NY 10016. LLC.Article of organization filed with Secretary Notice of Qualification of RP Stellar Milk to THE LLC, 105 WINTHROP ST #3L, Purpose: Any lawful act. of State of NY(SSNY)on 08/02/2007. Office Owner, LLC. Authority filed with Secy. of State TOM PALMER PROJECTS LLC, a domestic BROOKLYN, NY 11225. General purposes location: New York County. SSNY has been of N.Y. (SSNY) on 12/20/07. Office location: Limited Liability Company (LLC), filed with NOTICE OF FORMATION of California Wine designated as agent upon whom process NY County. LLC formed in Delaware (DE) the Sec of State of NY (SSNY) on 1/7/08. Notice of Qualification of SLG 1515 Asset Merchants LLC. Arts. Of Org. filed with Secy. against it may be served. The Post Office on 12/18/07. SSNY designated as agent of NY Office location: NEW YORK County. Management Fee LLC, App. for Auth. filed Of State of N.Y. (SSNY) on 10/31/07. Office address to which SSNY shall mail a copy of LLC upon whom process against it may be SSNY is designated as agent upon whom Sec'y of State (SSNY) 4/4/02. Office location: location: New York County. SSNY designated any process against the LLC served upon served. SSNY shall mail process to: c/o CT process against the LLC may be served. NY County. LLC org. in DE 4/3/02. SSNY as agent of LLC upon whom process against him is C/O M. Daniel Bach, Esq. 38 W32nd Corporation System, 111 8th Ave., NY, NY SSNY shall mail a copy of any process designated as agent of LLC upon whom it may be served. SSNY shall mail process St, Suite 1210, NY, NY 10001. Purpose of 10011, registered agent upon whom process against the LLC served upon him/her to process against it may be served. SSNY to: 44 E. 12th, 9A, NY, NY 10003. Principal LLC: to engage in any lawful act or activity. may be served. DE address of LLC: 1209 DEBOOT & SIRIS P.C., 60 E. 42ND ST., NY, shall mail copy of process to c/o Nat. Reg. business location: 15 Bridge St., NY, NY Orange St., Wilmington, DE 19801. Arts. of NY 10165. General purposes. Agents, 875 Ave of the Americas, NY, NY 10004. Purpose: any lawful activity. Notice of Qualification of Goldman Sachs Org. filed with DE Secy. of State, 401 Federal 10001, the Reg. Agt. upon whom proc. may Private Equity Partners Asia Fund, L.P. St., Ste. 4, Dover, DE 19901. Purpose: any NOTICE OF FORMATION OF LIMITED LIABILITY be served. DE office addr.: 160 Greentree Dr., NOTICE OF FORMATION of TONIC STUDIO Authority filed with Secy. of State of N.Y. lawful act or activity. COMPANY. NAME: CHINA MANAGEMENT, Dover, DE 19904. Cert. of Form. on file: CENTER, LLC (LLC). Articles of Organization (SSNY) on 12/3/07. Office location: NY LLC. Articles of Organization were filed with SSDE, Townsend Bldg., Dover, DE 19901. filed with the Secretary of State of New York County. LP formed in Delaware (DE) on FOUR LIGHT PROPERTIES, L.P., a foreign the Secretary of State of New York (SSNY) Purpose: any lawful activities. (SSNY) on 11/13/07. Office Location: New 3/22/07. SSNY designated as agent of LP Limited Partnership (LP) filed with Secretary on 12/19/07. Office location: New York County. York County. SSNY designated as agent of upon whom process against it may be served. of State on 12/18/07. NY Office location: NEW SSNY has been designated as agent of the 45 WATERS EDGE ROAD, LLC Articles of Org. LLC upon whom process against it may be SSNY shall mail process to: 85 Broad St., NY, YORK County. SSNY is designated as agent LLC upon whom process against it may be filed NY Sec. of State (SSNY) 10/16/07. Office served. SSNY shall mail process to: C/O NY 10004. DE address of LP: 2711 Centerville upon whom process against the LP may be served. SSNY shall mail a copy of process in NY Co. SSNY desig. agent of LLC upon Brian C. Purcell, Esq., 222 Central Park Road, Ste. 400, Wilmington, DE 19808. served. SSNY of State shall mail a copy of to the LLC, c/o Marc Packer, 888 7th Avenue, whom process may be served. SSNY shall Avenue, Suite 1500, Virginia Beach, VA Name/address of each genl. ptr. available from any process against the LP served upon New York, New York 10106. The address of mail copy of process to 1031 Vest, LLC, 44 23462. Principal Business Location: 50 East SSNY. Cert. of LP filed with DE Secy. of State, him/her to THE PARTNERSHIP, 111 EAST the registered agent is c/o Corporation Service Wall St., 10th Fl., NY, NY 10005. Purpose: Any 42nd Street, 11th Floor, New York, NY 10017. Townsend Bldg., Dover, DE 19901. Purpose: 56TH STREET, APT. 1602, NEW YORK, NY Company, 80 State Street, Albany, New York lawful purpose. Purpose: Any lawful activity. any lawful activity. 10022 General purposes. 12207. Purpose: For any lawful purpose.

February 11, 2008 | Crain’s New York Business | 25 CNYB 02-11-08 A 26 2/7/2008 7:41 PM Page 1

NEIGHBORHOOD JOURNAL New head shakes up Queens chamber

stores in Bayside. “People need to $200,000 in grants to work with.He once-blighted area. In 2005, half an Changes include want to join; and we need to show plans to raise more money for new acre of J.J. Byrne was closed as part enhanced programs, them there are benefits to doing so.” programs, including on-site ESL of an unusual deal with developer Another priority is to broaden training for the 1,200 workers at the Shaya Boymelgreen, who is build- community outreach; the chamber’s ethnic representa- Willets Point auto-parts yards. ing three properties with a total of aiming for diversity tion. Toward that end, Mr. Fried- In an important policy decision, 227 residential units. man is committed to hiring two out- the chamber has pledged full sup- The agreement involved Mr. reach staffers, one fluent in Spanish port for the city’s Willets Point re- Boymelgreen taking over a corner of arely a month into the and one in Chinese.“Eight of the 10 development plan. But Mr. Fried- the park, which is on Fifth Street job, the new head of the largest businesses in Queens are man promises to “hold the city’s feet between Fourth and Fifth avenues, Queens Chamber of members of the chamber, but only to the fire” when it comes to treat- to use as a staging area for construc- Commerce is moving to two of the 10 largest minority busi- ing current business owners there tion crews. In return, he funded a inject fresh life into the nesses are members,” he says. fairly. $1.6 million revamp that includes BLOOMING: J.J. Byrne’s Old Stone House. B97-year-old organization. Mr. Friedman has already forged —hilary potkewitz two new basketball courts, eight In a first, Executive Vice Presi- a partnership with the Flushing handball courts and a dog run. dent Jack Friedman has taken out a Chamber of Commerce to build ties Once a place known for drug and side streets. As a sign of the trans- full-page weekly ad in the Daily with its largely Chinese and Korean Brooklyn park’s gang activity, J.J. Byrne has been formation, his two latest buildings News to attract new members. He is membership. And he is considering makeover fits area cleaned up considerably as the area quickly sold out,with prices ranging also negotiating with FedEx, DHL carrying the chamber’s flag into has gentrified and Fifth Avenue from $681,000 to $849,000 for a and Kinko’s for member discounts other communities by offering fi- a key section of Brooklyn’s J.J. morphed into a restaurant hub. two-bedroom apartment. and is working on an internship pro- nancial literacy classes. Byrne Park that has been closed for Farmers markets and cultural events “There has been an incredible gram linking local colleges and busi- “We should be teaching classes three years for renovation is slated to centered on the park’s 1699-vintage amount of change here over the past nesses. in Russian in Forest Hills, in Chi- reopen in May, in a neighborhood Old Stone House have helped. couple of years,” says Ruth Ede- “For a small businessperson, the nese in Flushing and in Spanish in that has changed dramatically dur- Mr. Boymelgreen’s project was bohls, tour coordinator for the days of joining the chamber because Corona,” Mr. Friedman says. ing that time. made possible by a 2003 rezoning Brooklyn Center for the Urban En- it was ‘the thing to do’ are over,” says When he took over last month, The park has been both a victim that allowed properties of up to 12 vironment and a lifelong Park Slope Mr. Friedman, a Queens native and after longtime EVP Bill Egan was and beneficiary of the alterations in stories along the avenues in return resident. former owner of photo and video ousted, Mr. Friedman had about surrounding lower Park Slope, a for preserving the low-rise look of —andrew buck

ular percentage but asks only that bidders indicate their receptiveness MTA driving hard bargain on rail yards to the idea. Additionally, the documents the tough deal the Metropolitan or $10 million letter of credit for gerously high-stakes game. The state that the MTA, the state and Spurring bidders Transportation Authority is driv- each yard. The MTA reserves the agency doesn’t set a minimum rent connected agencies must be indem- to take on risk; funds ing, according to several of the five right to draw on the funds, and the in the documents, leaving that deci- nified from any related lawsuits. development teams that are vying developer won’t be reimbursed if sion to the developers. won’t be reimbursed for the megasite. the team leaves the project. The MTA also asks for “transac- No comment According to documents sent to “They want us to take tremen- tion payments”—such as a percent- the mta did not return a request BY THERESA AGOVINO the teams by the MTA and obtained dous risk,”says a source at one of the age of condominium sales and li- for comment by press time. by Crain’s New York Business, the teams. The developers are being censing fees from antennas, cell The development teams are The shea stadium is nowhere near the winning bidder will have to pay tens asked to bid amid a credit crunch phone towers and billboard and sig- Related Companies; Extell Devel- Hudson Rail Yards, which is on the of millions of dollars that won’t nec- and fears that the nation is slipping nage—but does not specify opment Co.; Brookfield Properties; West Side of Manhattan. But the essarily be refunded if the deal falls into recession. amounts. a joint venture between Morgan group that is selected to develop the apart. “This is more complicated that a Stanley and Tishman Speyer; and a 26-acre yards site will have to estab- For example, the developer will High-stakes game straight sale,” says one developer, joint venture between The Durst lish a $9.2 million fund to improve have to create a $5 million general- some of the competitors say that who asked not to be identified. Organization and Vornado Realty a Long Island Rail Road facility expense fund for each of the two the MTA’s decision to lease rather The MTA also says it would like Trust. near the ball field. 13-acre yards, as well as a $10 mil- than sell the site complicates the an equity position in the project. That request is emblematic of lion environmental-expense fund bidding process and creates a dan- The agency doesn’t request a partic- COMMENTS? [email protected]

NOTICE OF FORMATION: DINACHARYA LLC. Notice of Qualification of BLT 32 LLC. Authority Notice of Qualification of BR 1355 First Avenue Notice of Qualification of Culligan Dealer Co., Notice of Formation of 660 Cleaning Service Arts. Of Org. filed with Secy. of State of NY filed with Secy. of State of N.Y. (SSNY) on 7 Tier I Member, LLC. Authority filed with NY LLC. Authority filed with NY Dept. of State on Company LLC. Arts. of Org. filed with NY (SSNY) on 9/11/07. Office Location: New York 12/3/07. Office location: NY County. Principal Dept. of State on 10/16/07. Office location: NY 1/25/08. Office location: NY County. Principal Dept. of State on 12/5/07. Office location: County. SSNY designated as agent of LLC business location: 11 Madison Ave., NY, NY County. LLC formed in Delaware (DE) on business address: 9399 W. Higgins Rd., Ste. NY County. Principal business address: c/o upon whom process against it may be served. 10010. LLC formed in Delaware (DE) on 10/5/07. NY Secy. of State designated as agent 1100, Rosemont, IL 60018. LLC formed in Fisher Brothers, 299 Park Ave., NY, NY SSNY shall mail process to Principal Business 11/27/07. SSNY designated as agent of LLC of LLC upon whom process against it may be Delaware (DE) on 10/15/97. NY Secy. of 10171. Secy. of State designated as agent Location: 95 Lexington Avenue, #1N, NY, NY upon whom process against it may be served and shall mail process to: c/o Bluerock State designated as agent of LLC upon whom of LLC upon whom process against it may 10016. Purpose: any lawful activity. served. SSNY shall mail process to: c/o Real Estate, LLC, 680 5th Ave., 16th Fl., NY, process against it may be served and shall be served and shall mail process to: c/o Corporation Service Company, 80 State St., NY 10019, principal business address of the mail process to: c/o CT Corporation System, Martin L. Edelman, Esq., Paul, Hastings, MEENAN & ASSOCIATES, LLC, a domestic Albany, NY 12207. DE address of LLC: 2711 LLC. DE address of LLC: c/o Corporation 111 8th Ave., NY, NY 10011, registered agent Janofsky & Walker, 75 E. 55th St., NY, NY Limited Liability Company (LLC) filed with the Centerville Road, Ste. 400, Wilmington, DE Service Co., 2711 Centerville Rd., Ste. 400, upon whom process may be served. DE 10022. Purpose: any lawful activity. Sec of State of NY (SSNY) on 12/13/01. NY 19808. Arts. of Org. filed with DE Secy. of Wilmington, DE 19808. Cert. of Form. filed address of LLC: 1209 Orange St., Wilmington, Office location: NEW YORK County. SSNY is State, 401 Federal St., Ste. 4, Dover, DE with DE Secy. of State, P.O. Box 898, Dover, DE 19801. Arts. of Org. filed with DE Secy. NOTICE OF FORMATION of Stealth designated as agent upon whom process 19901. Purpose: any lawful activity. DE 19901. Purpose: any lawful activity. of State, 401 Federal St., Dover, DE 19901. Communications Services, LLC. Arts. of Org. against the LLC may be served. SSNY shall Purpose: consumer and commercial water filed with Secy. of State of NY (SSNY) on mail a copy of any process against the LLC Notice of Qualification of Gemini 442 West 36th Notice of Qualification of Lola’s House LLC. products and services. 10/19/07. Office location: New York County. served upon him/her to COLLEEN M. MEENAN, Street 31, LLC. Authority filed with Secy. of Authority filed with NY Dept. of State on SSNY designated as agent of LLC upon whom 396 BROADWAY, NEW YORK, NY 10013. State of NY (SSNY) on 1/8/08. Office location: 11/6/07. Office location: NY County. Principal Notice of Qualification of eEmerge.NYC LLC, process against it may be served. SSNY shall General purposes. NY County. LLC formed in Delaware (DE) on business address: 11 Waverly Place, NY, NY App. for Auth. filed Sec'y of State (SSNY) mail process to: 50 Broad St., 8th FL, NY, NY 1/7/08. SSNY designated as agent of LLC 10011. LLC formed in Delaware (DE) on 6/20/00. Office location: NY County. LLC org. 10004. Principal business location: 50 Broad Notice of Formation of Atlantis Publishing, upon whom process against it may be served. 12/28/06. NY Secy. of State designated as in DE 5/15/00. SSNY designated as agent of St., 8th FL, NY, NY 10004. Purpose: Any LLC. Arts. of Org. filed with Secy. of State SSNY shall mail process to: William T. Obeid, agent of LLC upon whom process against it LLC upon whom process against it may be lawful act. of NY (SSNY) on 11/14/07. Office location: 200 Park Ave. So., Ste. 1305, NY, NY 10003, may be served and shall mail process to: c/o served. SSNY shall mail copy of process NY Co. SSNY designated as agent of LLC also registered agent. Address to be maintained The Flatiron Grp LLC, 156 5th Ave., Ste. 1123, to c/o Nat. Reg. Agents, 875 Ave of the upon whom process against it may be in DE: c/o Corporation Service Company, 2711 NY, NY 10010. DE address of LLC: c/o Americas, NY, NY 10001, the Reg. Agt. upon To place your classified served. SSNY shall mail process to: Santo Centerville Rd., Ste. 400, Wilmington, DE Corporation Service Co., 2711 Centerville Rd., whom proc. may be served. DE office addr.: Barravecchio, 20 Esther Depew St., Staten 19808. Arts. of Org. filed with DE Secy. Of Ste. 400, Wilmington, DE 19808. Arts. of Org. 160 Greentree Dr., Dover, DE 19904. Cert. of ad call John Gallagher Island, NY 10306, also registered agent. State, 401 Federal St., Ste 4., Dover, DE filed with DE Secy. of State, P.O. Box 898, Form. on file: SSDE, Townsend Bldg., Dover, @ 212-210-0189 Purpose: any lawful activities. 19901. Purpose: any lawful activities. Dover, DE 19903. Purpose: own real estate. DE 19901. Purpose: any lawful activities.

26 | Crain’s New York Business | February 11, 2008 CNYB 02-11-08 A 27 2/7/2008 7:03 PM Page 1

BUSINESS

HOME FRONT A rush to renovate in seller’s market PAGE 28 karjean levinekarjean

GOTHAM GIGS Eco-friendly flowers HANNAH LING, 31, New York’s first “eco-florist,” is gearing up Valentine no more? for the Valentine’s Day rush of environmentally aware lovers. Time to sell off the old ring and unused bridal gown HER INSPIRATION The idea for her business blossomed at the BY ADRIANNE PASQUARELLI end of 2006. Ms. Ling, then a management consultant, was his thursday, couples around the city searching online for organic, will celebrate Valentine’s Day with fair-trade flowers but couldn’t flowers, chocolate, champagne and find a shop offering them. A year later, she opened pricey gifts. Gardenia Organic—named But not everyone will be cuddling after her favorite bloom—in with that special someone. The period the West Village. between New Year’s Day and Valen- GOING GREEN The flowers, tine’s Day, unofficially dubbed “breakup season,” grown without toxic pesticides Twill see plenty of New Yorkers trying to recoup, or fertilizers, come from a California wholesaler and if not their pride, at least some of the cash farms in Ecuador and squandered on their failed relationships. Colombia. Ms. Ling uses The newly single find this season espe- vases made from recycled glass cially conducive to moving on from and composts her flower botched marriages and broken engage- waste. “It’s fashionable to be green,” she says. “But it should ments by selling bridal gowns, engage- be a way of life.” ment rings, wedding bands and EDUCATIONAL ELEMENT Ms. more, experts say. Sites like Ling has developed a few Craigslist, PreOwnedWedding- regular customers and plans Dresses.com and eBay currently to start offering evening list thousands of wedding- classes soon. “I like that people come into my store related items awaiting more and leave having learned fortunate owners. something new,” she says. Though these would-be —adrianne pasquarelli merchants rarely recover more than half of what they origi- EXPERT OPINIONS nally spent on their bridal VALENTINE’S DAY treasures, many figure it’s nice GIFT GUIDE to get any returns, particular- this year, we’re loving ly after a $20,000 wedding anything that expresses falls apart at the seams. feeling. Jeanine Payer has “It all hinges on New Year’s earrings with inspirational resolutions,” says Travis Hartley, messages for $220 and up, and founder and chief executive of Mary Green makes fun boy undies that say “I love you” in Meet Market Adventures, a singles seven languages, $40 for a event service with 17,000 Manhattan week’s worth. If you’re not members. “If you’re in a bad relationship and looking for personal items, try it’s not going anywhere, there is no better time to Nespresso’s Le Cube machine, JOSH OPPERMAN break it off and start fresh.” Mr. Hartley estimates which is in the $200 range, founded a site, with a heart-shaped coffee IDoNowIDont.com, that his company sees a 40% increase in membership dish or espresso mug.There’s where sellers can between January and February each year. also the iPod Nano ($199), auction off their used A recent Yahoo Personals survey conducted by Opinion which was just launched in engagement rings. pink and Research Corp. found that 56% of respondents had gone also comes through a breakup between New Year’s Day and Valentine’s in red. See TIME on Page 28 —jean vouté pratt Average cost of Average cost Founder THE an engagement of a wedding GiftGirl.com STATS ring dress Source: The Knot Inc. $4,255 $1,279 buck ennis

February 11, 2008 | Crain’s New York Business | 27 CNYB 02-11-08 A 28 2/7/2008 6:48 PM Page 1

BUSINESS LIVES HOME FRONT Apartment redos let folks make do in pricey market

Even renters are opting if their apartments are rentals. Some embark on redos when to build out rather than they’re ready to start families, or when their children reach adoles- AND BABY MAKES buy digs to meet needs; cence and need more privacy. Oth- A TWO-BEDROOM: money down the drain? ers renovate to maximize their space Ali Marsh and her or to spruce up their surround- husband revamped ings without having to leave well- their rental to make BY JUDITH MESSINA space for their loved but increasingly unaffordable daughter, Azalea. neighborhoods. hen actress Ali The growing refurbishing trend

Marsh got preg- recalls the circumstances of the roger hagadone nant, she and 1970s and 1980s, when having a her husband, ac- rent-stabilized lease was akin to short of a major overhaul,which can can afford, and who feel it’s worth- Christine Allen, a single mom tor Fred Weller, ownership. Investments made now cost $150,000 to $200,000, they’ll while to invest in their current living in Stuyvesant Town, also wantedW to buy an apartment to ac- may turn out to be money down the still need to shell out at least $25,000 place,” she says. needed to make more room for a commodate their growing family. drain once leases expire or the hous- to paint, redo floors and lighting, Given all the renovating work child,her 15-month-old son.While One year and a baby girl later, ing market softens enough to make add built-ins and update a kitchen. going on in the city,it’s getting tough she’s waiting for the condo and co- however, they are still in their old purchasing a home possible. But Architect Yen Ha, a principal of to hire staff, architect Ethelind op market to settle down, she has digs, a one-bedroom rental near that’s not stopping the hammering Coblin observes. spent $5,000 on shelves, window Washington Square.To make room and sawing as New York City vacan- “Every firm is swamped,”she says. treatments and a sound-resistant di- for their daughter, they refurbished cy rates hover between 2% and 3% An overhaul can viding curtain, which turned her the apartment with a walled-off and apartment prices,particularly in Piano tuning one-bedroom into a two-bedroom. nursery, built-in cabinets, freshly Manhattan, continue to buck the cost $200,000, one of ms. coblin’s projects, the “Ultimately,I’d like to buy a two- finished floors and a new coat of national housing slump. renovation of a one-bedroom co-op, bedroom,but that doesn’t mean that paint. the basics, at allowed Peter and Barbara Prima- I can’t do some renovations,” says “What used to be our bookshelves Dashed hopes more to remain in pricey Chelsea. Ms. Allen, who works at Google in are now in the baby’s room,”says Ms. “in the first blush of getting least $25,000 To make room for Mr. Pri- video production. Marsh,who has appeared on Law & pregnant, [couples] march out and mamore’s teenage daughter, who In the end, say designers, reno- Order, among other TV shows. look at apartments,” says Maxwell spends weekends and holidays with vating is about more than freeing up The thespians are among a grow- Gillingham-Ryan, the co-founder them, they outfitted an alcove for square feet. ing cadre of New Yorkers who, after of ApartmentTherapy.com, which her to sleep in. Mr. Primamore, a “People want to come home and taking a hard look at the city’s pricey offers people resources to improve Front Studio, says she’s seeing more composer, also needed space for his relax,” says Lauri Ward, founder co-ops and condos, are deciding to their homes. “A few weeks or and more people who want to make piano. The couple moved a wall 18 of Use What You Have Inc. “It’s stay put. Instead of sinking their months later, they come back very better use of the space they have by inches and installed soundproof about getting their stuff out of sight savings into down payments, they depressed, saying, ‘How are we go- renovating. doors in their foyer, as well as a plat- and making the environment more are using their money to carve addi- ing to make this apartment work?’ ” “In the past six months,I’ve been form for the piano, creating an im- tranquil.” tional bedrooms out of hallways and To be sure, renovations aren’t meeting with so many people who promptu studio that muffles sound. install space-saving built-ins—even cheap. Although many people stop are not finding anything they like or The work cost them $9,500. COMMENTS? [email protected] Time to sell off the old ring EASING THE PAIN IN THE NINE YEARS since obtaining her marriage ordination, the Rev. Laurie Continued from Page 27 ple who are in the same situation.” advertised for $4,500, half of what Sue Brockway has wed hundreds of couples in New York City. She’s seen her Day. And in the city that never IDoNowIDont.com has since she originally paid at Kleinfeld share of prenuptial breakups, too, and suggests the following steps to save sleeps,there’s no shortage of separa- expanded.After an initial inventory Bridal in Chelsea. Though Ms. some dough and heartache: tions. of four rings, including Mr. Opper- Shapiro hopes the auction will After Josh Opperman’s fiancée man’s, the site boasted nearly 400 at boost the price, she can’t help wor- STEP ONE Contact all vendors immediately to cancel your contracts and suddenly left him four years ago its one-year anniversary last month. rying that the dress, tailored to her ensure you do not incur additional penalties from cancellation fees. Check to with an empty apartment and an ex- Mr. Opperman and his sister, Mara 4-foot-11-inch frame,may not have find out if it’s possible to obtain any refunds. pensive engagement ring, he was Opperman, now president of the wide appeal. STEP TWO Seek counseling and support to heal emotionally. Talk about definitely ready to start over—and company, recently added wedding your problems. Remember, you must allow yourself time to grieve. turn a profit. The 30-year-old tried dresses to their selections. Better deal to sell the ring back to its jeweler,but That was good news for Dana though auction sites work for STEP THREE Make a decision to sell or donate your wedding items out discovered he would recover Shapiro, who paid $9,000 some, others opt for the finality of a of a desire for closure, not out of anger. Such completion will help with future only 32% of what the ring for a gown designed by single bid and buy. relationships. had cost him. 400 Reem Acra in anticipation After Shane Baker’s three-year NUMBER of of her June wedding this marriage ended in a “Dear John”let- Site-specific wedding rings up for bids year. The 28-year-old nurs- ter last Thanksgiving, the car mag- O’Rourke, a 27-year-old West- wedding dress on Craigslist for unwilling to suffer an- on the site ery school teacher was azine owner posted his wife’s chester native who works for West- $600 but plans to take the best offer, other loss—this time mon- IDoNowIDont forced to call off the cere- $14,000-diamond solitaire engage- chester County Parks and Recre- and has already sold aisle runners etary—Mr. Opperman mony when she discovered ment ring on Craigslist. Mr. Baker, ation. She’s trying to sell the bridal and a ring bearer’s pillow, each for founded his own company.His site, her fiancé had cheated on her.She is 36, sold the ring a few weeks ago for dress of her dreams after calling off about 30% of what she originally IDoNowIDont.com, where sellers now using Mr. Opperman’s site to more than 50% of what he spent,but her 2004 wedding just three days paid. If the dress doesn’t sell, she can auction off their used engage- auction the gown. the $8,000 check is not enough to before it was set to take place. plans to donate it and everything ment rings, went live in January “I’m trying to put everything undo the devastation caused by his In a new relationship and a new else to a charity or a friend. 2007. Eventually, Mr. Opperman from that chapter behind me,” says ex’s sudden departure. year,Ms.O’Rourke is keen on start- “I really don’t need this stuff any- sold his ring for 70% of its original Ms.Shapiro,who is selling her wed- “Monetarily, it’s OK,” he says. ing anew, which is why in January more,” says Ms. O’Rourke. “It’s just cost. ding items one at a time.“When you “But emotionally,it’s still a disaster.” she was ready to put all of the items memories.” “It helped me move on,” he says. cancel a wedding, you lose so much Others are more ready to wipe from her almost-marriage up for “And the site is helping other peo- in every department.” The dress is away the heartache. Take Joanna sale. She is advertising her $1,200 COMMENTS? [email protected]

28 | Crain’s New York Business | February 11, 2008 CNYB 02-11-08 A 29 2/7/2008 12:12 PM Page 1

BUSINESS LIVES CORPORATE LADDER Stanford Makishi Arts manager leaps Will oversee operating Mr. Makishi succeeds Christina Sterner, who worked with Mr. PERSONNEL FILE budget, agenda for Baryshnikov for 20 years and start- ed the center with him. ORGANIZATION Baryshnikov Arts Baryshnikov center; Heading up the nonprofit is a big Center theater planned leap for the former dancer, who was TITLE Executive director with the Trisha Brown Dance Com- pany before moving into arts ad- AGE 42 BY MIRIAM KREININ SOUCCAR ministration. Most recently, he was RÉSUMÉ Director of creative director of creative services at services at Carnegie Hall hen stanford Carnegie Hall, overseeing the insti- MANAGEMENT STYLE Makishi started tution’s editorial, art and print pro- dancing at age duction departments. Collaborative 11, he never HOBBIES Running and travel imagined he More duties wouldW meet a dancer of Mikhail in his new post, he assumes far Baryshnikov’s stature, let alone greater responsibilities, managing a Mr. Makishi reacted coolly, in- work for him. $1.8 million annual operating budg- sisting that the center’s space was But last month, Mr. Makishi et and overseeing all aspects of the purchased in cash from the owners, took over as executive director of the center, which includes four studios so the organization does not owe a Baryshnikov Arts Center, a two- on the top three floors of the new 37 dime. He says the only downside to year-old institution that supports Arts Building in the garment dis- the dispute is that the purchase of the and presents work by emerging trict. Next year, the arts group is space for the new theater cannot be

artists from around the world. Mr. planning to open an $8.5 million completed until the dispute is settled neff david Baryshnikov handpicked Mr. Ma- 299-seat theater in the building because of a lien on the building. kishi after a three-year search and is named after the choreographer “Our biggest short-term goal is with a rich arts program, where he of Mr. Makishi’s career, he says this even touting him as his successor as Jerome Robbins, expanding into the completing the real estate transac- was able to dance and play the viola. job is the pinnacle. “Working with artistic director. risky world of art presenting. tion,” Mr. Makishi says. “But we’re Misha is a joy. He’s so humble and “I won’t be here forever and I Mr. Makishi, who has a bache- confident that will happen soon.” Early achiever open and easygoing,” he says. “But wanted someone to take over, not lor’s degree in economics from Har- Given Mr. Makishi’s lifelong at harvard, where he received a when I stop and think about the just the structure and financial sta- vard,isn’t daunted easily.On his sec- history, it’s easy to believe every- generous financial aid package, he hugeness of it,I think,‘Why me and bility, but also the artistic vision,” ond day on the job, allegations came thing will work out. Though his was recognized as a National Schol- what am I doing here?’ Because he’s says Mr. Baryshnikov. “[Mr. Ma- out in the press that that the center family struggled to make ends ar. And he nabbed a hotly contested just a giant; he’s one of the greatest kishi’s] pedigree is impeccable and I owed $4 million to the building’s meet—his father worked as a taxi spot in Trisha Brown’s dance troupe, artists of our time.” believe he could really set up the contractors because of a dispute driver in Honolulu—Mr. Makishi where he danced for seven years. agenda for many years.” with the original owners. won a scholarship to a private school But despite the many highlights COMMENTS? [email protected]

February 11, 2008 | Crain’s New York Business | 29 CNYB 02-11-08 A 30 2/7/2008 5:59 PM Page 1

BUSINESS LIVES

EXECUTIVE MOVES

ACCOUNTING & CONSULTING president at Scholastic Corp. GolinHarris: Matthew Henson, 34, was director of client services. She was AlixPartners: Mahesh Mansukhani,37, Marcum & Kliegman: Alan J. Markowitz, promoted to senior vice president from formerly assistant commissioner for HOT JOBS joined as director, performance 51, joined as partner. He had been a vice president. communications and marketing, New improvement. He was formerly a global partner at Capital Markets Group. Iris Worldwide: Bradford Bryen, 48, joined York City Department of Consumer business director at DuPont. as chief executive, North America. He Affairs. Alvarez & Marsal: Dan Powell, 50, joined ADVERTISING & COMMUNICATIONS had been president of U.S. Concepts. Weidlinger Associates Inc.: Najib Abboud, WANTED: as managing director. He had been an Articulate Communications Inc.: Sharon Out-of-Home Video Advertising Bureau: 45, was promoted to principal from DIRECTOR assistant principal at McKinsey & Co. Tolpin, 45, joined as senior vice Suzanne Alecia, 36, was appointed associate principal. Amper Politziner & Mattia: Jeffrey F.Allen, president. She had been a vice president president. She had been president, James Quinn, 50, was promoted to ORGANIZATION The National 55, joined as partner. He had been a at Critical Mention. advertising sales, at The Hotel Networks. principal from associate principal. Academy Museum and School of partner at KPMG. Brand Keys Inc.: Amy Shea, 50, joined as Vibrant Media: Denise Garcia, 38, joined Fine Arts J.H. Cohn: Steve Marshall Cohen,55,was executive vice president and global di- as senior vice president, corporate CONSUMER PRODUCTS appointed chief marketing officer. He rector, brand development. She was vice strategy and research. She was formerly Shiseido International Corp.: Louis JOB DESCRIPTION Act as the had been senior director of marketing at president, research director at Ameritest. a vice president at A.G. Edwards. Desazars, 44, was appointed chief head of an established museum RSM McGladrey. Cornerstone: Jeff Tammes, 32, was promot- executive of Nars Cosmetics, effective and art school Mahoney Cohen & Co.: Steven Volk, 57, ed to senior vice president, strategic mar- ARCHITECTURE & DESIGN Feb. 18. He was formerly U.S. president joined as tax director. He had been a vice keting, from vice president, marketing. Suka Design: Dina Roskin, 31, joined as of Beauté Prestige International. MOST IMPORTANT TASKS Man- age a complex art institution with an annual budget of $3.5 million while attracting and cultivating public interest in the fine arts and arts education CREDENTIALS NEEDED A mini- Reliable email solutions mum of seven years in nonprofit work, successful fundraising and strong interpersonal skills that fit your bottom line. SALARY $125,000 to $150,000 RECRUITER In-house For the right email solutions, turn to the experts who make it easy: Verizon Wireless. Now you can stay connected to your business 24/7, with the security of America’s Most Reliable Wireless Voice and Data Network. DOWNSIDE Having to manage both a museum and a school Switch now and for a limited time only: UPSIDE Being able to work BUY FIVE DEVICES GET ONE FREE directly with artists PLUS, SAVE 8% OFF MONTHLY ACCESS CHARGES The National Academy Museum On accounts with 5 or more lines. Requires new 2-yr corporate-liable agreement per line on any Nationwide Email plan of $79.99 monthly access or higher. and School of Fine Arts is the first arts organization in America to be directed by professional artists. Founded in 1826 as a not-for-profit organization, the National Academy still acts as both a museum and an educa- tional institution. —ANDREW BUCK

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Bay Plaza 631-968-5432 914-528-4800 Shopping Center 581 Broadway 1095 6th Ave. Rockville Centre Hartsdale including cancellation fees. Arina Lekhel, 33, was promoted to 2266 Bartow Ave. 1/2 block south of @ 42nd St. 265 Sunrise Hwy. East Northport White Plains 355 N. Central Ave. ALL PAGE MOBILTRON WIRELESS TO GO 718-671-2621 Houston 646-366-9121 516-594-0346 4000 Jericho Tpke. The Westchester Mall 914-286-4120 partner from counsel. 212-431-4613 631-499-1820 914-286-4100 BROOKLYN ELMHURST 142 W. 49th St. Abid Qureshi, 38, was promoted to 153 E. Fordham Rd. 134 W. 34th St. Roosevelt Field Mall YONKERS 209 Prospect Park West Queens Center Mall 212-302-6855 718-733-2292 981 3rd Ave. @ 59th St. btwn. 6th & 7th Ave. 516-663-4040 Smith Haven Yorktown Heights Cross County 718-499-8000 (lower level) partner from senior counsel. 212-759-0201 917-351-8000 1 Smith Haven Mall Jefferson Valley Mall 15 Xavier Dr. 718-699-5240 299 Broadway BROOKLYN Valley Stream COMPUCELL Across from City Hall Chadbourne & Parke: John Finnegan,50, 631-382-3720 914-455-3574 914-966-9853 PAGING ZONE 8524 5th Ave. 157-161 E. 86th St. Harlem Green Acres Mall BROOKLYN 212-227-6010 joined as partner. He had been a partner 211 7th Ave. BROOKLYN @ 86th St. btwn. Lex. & 3rd Ave. 166 W. 125th St. 516-887-7288 Smith Haven Kiosk 61 E. 8th St. 718-491-6680 917-492-2583 212-531-1542 631-724-1523 718-768-9200 7411 3rd Ave. at Cadwalader Wickersham & Taft. Westbury 212-239-4283 Visit the Verizon Wireless Store HIPOINT WIRELESS 718-491-4500 Dechert: Drake Tempest, 54, joined as 146 Montague St. 2268 Broadway 139 5th Ave. 49 Old Country Rd. Bridgehampton Commons WIRELESS VOICE inside Circuit City and BJ’s. WASHINGTON HEIGHTS 315 9th St. 718-246-4117 btwn. 81st & 82nd St. btwn. 20th & 21st 516-937-2960 2044 Montauk Hwy. SCARSDALE partner. He had been a partner at 212-712-8040 212-780-7420 631-537-2398 Staffed with Verizon Wireless employees. 4229 Broadway 718-788-6400 Atlantic Terminal QUEENS 212-928-0018 1088 Central Park Ave. O’Melveny & Myers. 139 Flatbush Ave. 1266 3rd Ave. @ 73rd St. Union Square Astoria Huntington Station UNITED TELECOM 914-472-4784 MILLENNIUM Duane Morris: H. Bertil Nordin,56, 718-623-6809 212-606-4700 859 Broadway 31-25 Steinway St. Walt Whitman Mall FRESH MEADOWS WIRELESS ZONE COMMUNICATIONS 177-01 Union Tpke. joined as partner. 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Broadway 70-34 Austin St. 104 Fulton St. off Broadway the U.S. Attorney’s Office in Brooklyn. 516-937-2980 718-286-4980 Pergament Shopping Mall 2791 Richmond Ave. Hablamos Español 1845 Broadway at 59th St. 212-732-2355 Katsky Korins: Matthew Danow, 34, 212-689-4200 Manhasset Queens Center Mall 718-982-4980 275 7th Ave. & 25th St. 1530 Northern Blvd. 90-15 Queens Blvd. Staten Island Mall BUSINESS CUSTOMERS, 2061 Broadway at 72nd St. 212-727-2099 516-627-5620 718-271-6856 212-712-2300 718-370-4980 PLEASE CALL 1-800-899-4249 319 E. 14th St. EXECUTIVE PROMOTIONS 800-411-CELL 212-254-4460 The fastest way to get an announcement into IMPORTANT CONSUMER INFORMATION: Activation fee/line: $35. Subject to your Major Account Agreement or Customer Agreement, Calling Plan, rebate form and credit approval. Offer available for corporate-liable customers only. Up to $175 early termination Crain’s is to submit details online. Fill out the form fee and other charges per line. 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30 52255-02.indd| Crain’s New 1 York Business | February 11, 2008 2/5/08 11:34:27 AM CNYB 02-11-08 A 31 2/7/2008 6:05 PM Page 1

BUSINESS LIVES TABLE TALK by Bob Lape was promoted to partner from associate. There are some Iberian-style slid- Morrison & Foerster: Gabriel Meister, 34, ers to catch the flavor fancy—three to BEST OF BOB LAPE was promoted to partner from of counsel. Shamir Merali, 39, was promoted to an order. Ringing the taste gong em- partner from of counsel. phatically are prego, a mixture of Following are other Mediterranean Rachel Wertheimer, 36, was promoted to ground beef and çhourizo topped restaurants. partner from associate. with Cabrales cheese, tomato and Sonnenschein Nath & Rosenthal: David spicy ketchup; and febras, thin slivers Anthos A. Viklund, 42, joined as partner. He had of roast baby pork and fried onions. 36 W. 52nd St. (between Fifth and been special counsel at Cadwalader In both cases, juices seep into the Sixth avenues), Manhattan. Wickersham & Taft. baby buns sandwiching the meats. (212) 582-6900. It’s Donatella Tarter Krinsky & Drogin: Peter Campitiello, On one visit, the prego sliders Arpaia and chef Michael Psilakis 38, joined as partner. He was formerly a partner at Levy & Boonshoft. were too salty and the buns burned. (Dona) again, as the youthful chef Winston & Strawn: Eric L. Cohen, 41, It’s fair to say the kitchen does more makes a bid to gain for modern joined as partner. He had been a partner than flirt with the salt shakers much Greek cuisine the same respect at Bryan Cave. of the time. accorded French, Italian and Span- Among the plates for two, paella ish cooking. A remarkable effort. MEDIA & ENTERTAINMENT with whole-grain faro rather than Channel One: Paul Foklemer, 64, was rice gets high marks. A grilled skirt Axia Taverna named senior vice president, director of steak Romanesco with a splendid www.axiataverna.com education, a newly created position. He 18 Piermont Road, Tenafly, N.J. had been assistant superintendent for sauce of garlic, almonds and puréed instruction at Scarsdale Public Schools. peppers was slow to arrive,but when (201) 569-5999. A highly appealing Hachette Filipacchi Media U.S.: Todd sliced and served proved all we ex- new Greek restaurant from builder Anderman, 40, joined as senior vice pected and more. Michael Parlamis, whose firm has president, digital media. He had been Desserts ($6 to $8) are not done a thousand of them. president of Maxim Digital. Peniche’s strong suit.The Portuguese Media Rights Capital: William H. Master- custard tarts called pastéis de nata Pamplona ½ son III, 37, joined as executive vice presi- were small, dry and dull. The fried 37 E. 28th St., (between Madison dent, digital content partnerships. He dough churros were OK, but the Avenue and Park Avenue South), was a vice president at United Online. MSG Media: Jerry Passaro, 50, was pro- chocolate sauce for dipping was in- Manhattan. (212) 213-2328. Chef moted to senior vice president, network sipid. Alex Ureña does “traditional Span- operations and distribution, a new posi- The service team is outgoing, ish” dishes with as much flair as tion. He had been senior vice president pleasant and good at their game.Ex- anyone in town. of distribution and development. planations are immediate, delivery Nickelodeon/MTVN Kids and Family

david neff david generally quick, and customer em- Pera Mediterranean Group: Brown Johnson, 53, was promoted OLD (COUNTRY) MEETS NEW: Peniche is named for a fishing port on Portugal’s Atlantic coast. pathy excellent. Brasserie ½ to president, animation, a newly created The wine list is one of the larger www.peranyc.com position, from executive vice president pure Iberian rosters anywhere. 303 Madison Ave. (between East and creative director for Nickelodeon Preschool and general manager, Noggin. In sum, Peniche is a terrific place 41st and East 42nd streets), Man- Real Simple magazine: Regina Buckley, to taste a lot for a little. hattan. (212) 878-6301. Great-look- 39, was named general manager for the ing, friendly contemporary Turkish Time Inc. title. She had been business Small wonders COMMENTS? [email protected] attraction with an emphasis on director at Time.com and finance tender grilled meats, mezes and director at All You magazine. salads. REAL ESTATE Turkuaz Carlton Advisory Services: Jeffrey J. Wyner, at tapas mecca 55, joined as chief financial officer and www.turkuazrestaurant.com managing director. He had been senior 2637 Broadway (at West 100th credit officer at ACA Capital. Peniche specializes In its large,front dining room,80 Street), Manhattan. (212) 665-9541. Levien & Co.: Tyler H. Donaldson, 54, guests, legs dangling a bit awkward- There’s a new owner, chef and at- joined as executive project manager. He in Portuguese ly from high stools, sit at hewn- titude at the seven-year-old Upper was formerly associate partner at wood tables. Nine huge, drumlike West Side Turkish treat. Authentic Polshek Partnership Architects. dishes; desserts light fixtures make the room and full-range Turkish fare with a Mid-Bronx Desperadoes Community warmer. An adjacent bar is done in stunningly generous Sunday brunch. Housing Corp.: Peter M. Williams,48, aren’t strong suit gray tones to suggest a fortress that 100 dishes, $16.95. joined as president and chief executive. dominated the namesake town. He had been vice president, School of PENICHE Continuing Education and Community t takes only a nibble of From the bar come well-made san- 175 Main St. Programs, at Medgar Evers College. gambas piri-piri, firm prawns grias, mojitos and margaritas served White Plains Rose Associates Inc.: Amy Rose, 41, was bathed in hot chili sauce, or in oval glasses. (914) 421-5012 promoted to co-president from tangy cold octopus salad There are some 30 tapas options www.penichetapas.com executive vice president. redolent of aged sherry vine- and four platos for two people. gar and red onion to know that To begin a tapas tasting, order ½ SERVICES I Peniche is a true tapas star. It also pão—fresh Portuguese bread served Alliance for Downtown New York: CUISINE Iberian tapas Bruce brings a Portuguese twist to the with spicy olive oil. The bread will Brodoff, 45, was promoted to assistant genre. come in handy to sop up the irre- WINES 145 Iberian choices; vice president, marketing and commun- 46 by the glass ications, from director of public affairs. It’s named for a fishing port on sistible sauces accompanying many DHR International: Karen Forray, 57, Portugal’s Atlantic coast, where dishes. DRESS No code joined as executive vice president and Anthony Goncalves and his father On a par with the gambas is fran- NOISE LEVEL Impressive managing director. She was managing spent parts of summers when Mr. go con molho de Leitão, a generously director at Horton International. Goncalves was young. His father’s filled ceramic crock of lightly fried PRICE RANGE Tapas, $3-$17; DiscoverReady: Paul Yerkes, 34, joined as photograph is the only adornment cubes of chicken breast coated in a plates for two, $25-$31 senior vice president of business on the walls of the five-month-old salty, spicy medley of seasonings. WINE MARKUP 75%-240% development. He had been a manager at tapas treasury in the heart of White The same holds for the vinaigrette Attenex Corp. CREDIT CARDS All major Russell Reynolds Associates: Kurt Plains. on fried artichokes. Crispy calamari Harrison, 42, was appointed managing It occupies the former Trotters get a zesty tomato-olive sauce. RESERVATIONS director, financial services. He had been space, where Mr. Goncalves elevat- It’s difficult to stop adding a few Recommended a managing director and head of U.S. ed a casual eatery and bar to three- more items—the salt cod fritters, or interest rate sales at Nomura Securities star status in the space of several crispy squares of Manchego cheese HOURS Lunch, Mon.-Fri., International. years. He now takes an elevator to served lollipop-style on skewers. 11:30 a.m.-2:30 p.m.; Dinner, Tatum: Marcella LoCastro, 55, joined as operate the glamorous Restaurant “Torched” baby lamb chops (six) are Mon.-Wed., 5-10 p.m., associate managing partner. She was 42 atop the new Ritz-Carlton across fine finger food,too,with a bit of red Thurs.-Sat., 5 p.m.-1 a.m. formerly a managing director at Solomon Edwards Group. the street.Cameras link the kitchens onion marmalade on the side. = Outstanding Frank Morelli, 55, was promoted to of 42 and Peniche so the owner/chef Quince marmalade and sherry sauce = Excellent associate managing partner from can keep in close touch with his chef are the foils for lightly seared foie = Very good engagement partner. and team serving the busy small- gras, the heftiest tap on the wallet = Good —adrianne pasquarelli plates mecca. ($17).

February 11, 2008 | Crain’s New York Business | 31 Project5 2/4/08 3:15 PM Page 1

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