Recession Era's Deferred Bonuses Paying Off Big for Wall Streeters

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LEGAL PRAYER: Church of St. Vincent de Paul parishioners Olga Statz (a real estate attorney) and her mother, Cleomie Simon, have been battling their archdiocese’s closure order since 2007.

IN THE BOROUGHS MANHATTAN AppealAppeal toto aa higherhigher powerpower buck ennis

Roman Catholic Church’s highest legal authority, the Deus meus! Chelsea church, BY JOE ANUTA Apostolic Signatura, which will decide the fate of a Chelsea parish and the real estate developer keen to buy it. sitting on expensive real estate, In the spring of 2013, a lawsuit went from a small apart- At issue is the Archdiocese of New York’s effort to ment in Manhattan to Washington, D.C., where it was shutter the Church of St.Vincent de Paul at 123 W.23rd fights closure in a Vatican court. dispatched 4,500 miles via diplomatic pouch to the top St. and sell the nearly 150-year-old building. floor of a 16th-century palace in Rome. “We are, of course, hoping that the Signatura finds Now, does anybody speak Latin? There, translated into Latin, it sits in the halls of the See AUTHORITY on Page 16

GOTHAM GIGS Recession era’s deferred bonuses MAKES SCENTS Success smells a lot like paying off big for Wall Streeters lavender to self-styled ‘natural the legendarily ARE BANKS passed. The IOUs—grants of com- perfumer’ Julianne Zaleta P. 7 Stock IOUs translate massive year-end AT RISK YET pany stock that couldn’t be touched to hefty sums thanks cash bonuses. In AGAIN? P. 4 for years—are now worth huge sums came IOUs. IS WEALTH because bank share prices have to booming market TRICKLING

48 “People were soared in recent years.In the coming DOWN? P. 36

5 screaming bloody weeks, many of these deferred BY AARON ELSTEIN murder,” recalled bonuses will vest and result in vastly Alan Johnson of compensation con- larger paydays than if bankers or From the ashes of the financial cri- sultancy Johnson Associates. “They traders had been paid in cash. sis emerged a big change in how were yelling, ‘Pay me now!’ ” Consider Goldman Sachs. After Wall Streeters got paid. Out went It’s safe to say the tantrum has See WALL STREET on Page 36 NEWSPAPER 71486 01068 0 20141201-NEWS--0002-NAT-CCI-CN_-- 11/26/2014 4:07 PM Page 1

EDITOR’S NOTE

A mighty wind FYICRAINSNEWYORK.COM

I asked a reader last month for help devising my questions for Deputy Mayor Alicia Glen following her Pols hoping to hit jackpot keynote address at Crain’s Future of with Dem convention New York City conference on the new administration’s economic- rooklyn’s selection last week as a finalist development policies. “What to host the Democratic National economic-development policies?” Convention in 2016 delighted Mayor Glenn Coleman BBill de Blasio Charles Schumer the reader tartly asked. To be fair, and Sen. .The Ms. Glen’s top priority this first Brooklynites hosted a press conference-cum- year in office has been helping her boss fulfill his celebration to tout New York as the center of the campaign promise to create 80,000 units of afford- world and therefore the obvious choice: 73 nyc.gov able housing in the next 10 years. Now that a plan is Michelin-starred restaurants, the country’s most extensive public-transit system, beacon of rolling—3,563 new units financed! 76,437 to go!— freedom. Left unsaid was New York’s standing as the ATM of party fundraising. ¶ “J-O-B-S!” it’s time to speed up job creation so that more people Mr. Schumer said. “So many people will get jobs; so many people will benefit.” He said it takes can afford their rent. But City Hall’s thinking him only 15 minutes to get to downtown Brooklyn by car from midtown, “where all the hotels remains a work in progress, judging by the breezy are.” ¶ The other finalists, Philadelphia and Columbus, Ohio, have their advantages, too, and not just PowerPoint tour of the five boroughs’ emerging hotels close to their convention space. In the past 13 elections, the presidential candidate who has bright spots that Ms. Glen conducted for the audi- won Ohio has captured the White House. Dems may want to test their message in Columbus, ence. Much of the political boosterism for Brooklyn nicknamed Test Market, USA, for its perfect cross-section of American consumers. Republicans, tech startups and small business scale-ups that though, have laid claim to the state. Cleveland is where they’ll host their convention. ¶ might produce 50 jobs here or 100 jobs there seems Philadelphia, meanwhile, offers a middle ground—a large-ish city in a not-quite-reliable blue divorced from an economic reality: It is New York’s state—and plenty of color:The City of Brotherly Love, after all, is famous for having sports fans biggest companies and private institutions that hire whose anger rises to the felonious. ¶ Red-state contenders Phoenix and Birmingham, Ala., were so many of our city’s smaller companies to serve sent packing. Democratic National Committee Chairwoman Rep. Debbie Wasserman Schultz their business needs. It is our Fortune 500 headquar- thanked them for “showcasing their special communities.” A winner is expected to be announced ters that directly employ the hundreds of thousands early next year. —jeremy smerd of people who consume mom-and-pop’s goods and services, and indirectly employ at least a million FERGUSON FALLOUT. Thousands ceived a total of $150 million from protested in Manhattan, outraged trustee David Rockefeller and the HOORAY! more. You can’t have small business without big over a grand jury’s decision to not in- Stavros Niarchos Foundation for a CENTRAL PARK’S Lasker Rink, which business—not outside the shire, at least—and the dict a white police officer who fatally two-acre campus expansion. A plat- was slated to be closed all season, was to reopen Thanksgiving Day. biggest economic-development challenge facing all shot an African-American teen in form over the FDR Drive will support of New York City (beyond the failures of our school Ferguson, Mo. About 10 people were four new buildings.… ROCKEFELLERS arrested. … FALCONE LEAVES DIVEST. The company that manages system) is that our financial-services sector is shrink- HARBINGER. Hedge-fund billionaire the Rockefellers’ investments, Rocke- ing. The big banks are steadily moving their least- Philip Falcone stepped down as chair- feller & Co., will leave its longtime profitable support jobs outside our high-cost city. man and CEO of Harbinger Group. home at 30 Rockefeller Plaza—the Ms. Glen, a Goldman Sachs alum, didn’t disagree The 52-year-old was banned from the limestone tower it built in 1933—for securities industry but allowed to work 1 Rockefeller Plaza. … BUZZFEED when I noted during our Q&A session that it’s pos- as an officer and director of a public HUMMING. BuzzFeed, a Crain’s Fast OY VEY! sible that JPMorgan Chase could, in the not-too- company. He will get 50 company, reached LAGUARDIA is the most frustrating an exit package total- $100 million in rev- airport out of the 36 U.S. and Canadian distant future, have more corporate employees in ‘The second hubs, according to a Bloomberg ing more than $40 enue this year, the Businessweek survey. Texas than in New York. “There are headwinds,” she million from Harbin- quarter company announced. acknowledged, “we can’t fight against.” ger. … CITI’S UNRULY The news site also is ANALYSTS. Citigroup presented nearing 200 million was fined $15 million investors with unique visitors and THIS WEEK IN CRAIN’S for failing to supervise 750 million video and discipline its challenges’ views. The company

------equity research ana- —State Comptroller is reportedly valued at IN THE BOROUGHS 1 ap images lysts’interactions with Thomas DiNapoli, about $850 million. SMALL BUSINESS ------5 the bank’s clients.The downplaying the news of a … BUDGET BOON. forms. Currently, there are only five $2 billion loss for the state’s IN THE MARKETS------5 Financial Industry The city projected answer options when asked about race Regulatory Authority $178 billion pension fund higher tax revenue or ethnicity. … CULTURE SHED GETS THE INSIDER ------6 said some analysts in the last fiscal quarter and $1.1 billion less in LEADER. Alex Poots was named the BUSINESS PEOPLE ------7 hosted “idea dinners,” long-term debt in its head of the $360 million performing- where they gave stock tips that dif- November fiscal-plan update, but arts center that is rising on the far West OPINION------8 fered from published reports, while budget watchers said the savings were Side. Mr. Poots will leave his posts as GREG DAVID ------9 others helped investment-bank expected. … NEW CHECK-BOX FOR artistic director of the Manchester In- clients with road-show presentations RACE. The City Council introduced a ternational Festival and of the Park THE LIST ------13 before an IPO. … ROCKEFELLER bill that would allow New Yorkers to Avenue Armory in September 2015. REPORT: HEALTH CARE REAL ESTATE------16 INVESTS. Rockefeller University re- identify as more than one race on city —amanda fung Freelancers like Peter Wilk CLASSIFIEDS ------are mulling their Obamacare 33 Year 2 options. P. 10 NEW YORK, NEW YORK ------37 STORIES TO WATCH THIS WEEK vol. xxx, no. 48, december 1, 2014—Crain’s New York Business (ISSN 8756-789x) is published weekly,except for double issues the weeks of June 23,July 7,July 21,Aug.4,Aug.18 and Dec. 22, by Crain Communications Inc., 685 Third Ave., New York, NY 10017. Periodicals postage paid at New York, N.Y., and additional mailing offices. Postmaster: Send address changes to: Dec. 2: Council Dec. 2: Third Dec. 5: Crain’s Dec. 7–9: Crain’s New York Business, Circulation Department, 1155 Gratiot Avenue, Detroit, hearing on annual Giving unveils 100 Best Prince William and MI 48207-2912. for subscriber service: Call (877) 824-9379. Fax (313) 446-6777. $3.00 a copy, $99.95 one Cablevision Tuesday; people are Places to Work his wife, Kate, visit year, $179.95 two years. (GST No. 13676-0444-RT) ©Entire contents copyright 2014 by Crain Communications Inc. All rights reserved. franchise encouraged to rankings New York City agreement donate to charity

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Developers are betting it all on penthouses Sale of hyper-pricey YOUR MOJITO HERE: The units becomes make developer of a trio of penthouse apartments at the nearly or break for growing completed 551 W. 21st St. number of projects aims to sell them for a total of $125 million. BY DANIEL GEIGER

Developer Ben Shaoul has a simple way to describe the new penthouse he’s readying downtown at the former Verizon headquarters at 140 West St.,a property he is converting to luxury condominiums. “Think football field,” said Mr. Shaoul, 37, who scrapped his initial plan to cut the uppermost floors into as many as three penthouses to instead combine them into a single super-luxe duplex with 30-foot ceil- ings, 360-degree views and a price tag that could top $100 million. “I have seen some exceptional apartments,” he said, “but I have never seen anything like this one.” Maybe so, but a growing number of his peers swear they have.The fact is that in recent months such boasts have become all too common among a gaggle of men now in the process of delivering a collection of penthouses of unprecedented size, opu-

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December 1, 2014 | Crain’s New York Business | 3 20141201-NEWS--0004-NAT-CCI-CN_-- 11/26/2014 4:07 PM Page 1

STATS AND Apple Pay’s big beneficiary THE CITY

’TIS THE SEASON: Holiday spending Country’s largest across the nation is projected to climb HOME TEAM: CEO 13% this year, but New Yorkers will credit-card processor Frank Bisignano spend a little less on gifts in 2014 recruited New York hopes it can turn executives to prepare than in recent years. Still, the city is First Data to take getting into the spirit. Seasonal hiring its fortunes around advantage of new and spending are major drivers of the payment technology. local economy. BY MATTHEW FLAMM

When Frank Bisignano took over troubled First Data Corp. 18 months ago, he wanted to signal a change at the company, which handles nearly half of the nation’s 77 billion annual credit-card transactions. One thing he did was to make New York City the base for its turnaround.

The shift of focus from Atlanta, ap images the firm’s longtime headquarters, has PROJECTED paid off. Mr. $1,242average amount Bisignano, a NYC households will spend on gifts this $3.5B Brooklyn-born holiday season, down 2% from last year INVESTMENT in and -raised finan- June by private- cial-services vet- NUMBER of signed equity firm KKR, eran and former books by major keeping First 500K JPMorgan Chase authors for sale at Barnes & Noble Data’s turnaround locations nationwide on Black Friday. on track co-chief operating officer, has The bookseller claims it’s the largest- used his perch at ever offering of its kind First Data’s new Liberty Street offices APPRAISED to recruit some 200 executives, many value of the Saks Fifth Avenue from the top ranks of his former em- building$3.7B in Manhattan, more than the ployers, JPMorgan and Citi. $2.9 billion Hudson’s Bay Co. paid for That talent upgrade was key to the entire Saks chain last year private-equity firm KKR’s decision to add to its bet on First Data with a HEIGHT, in feet, of the world’s $3.5 billion investment in June,even largest Hanukkah menorah, to though the debt-laden company has 32be lit at Manhattan’s Grand Army Plaza. lost money ever since KKR bought it It weighs 4,000 pounds for nearly $30 billion in 2007. First Data still has 1,500 em- SEASONAL workers to ployees in Atlanta and 24,000 3,100 be hired by shipping worldwide, but its new leadership giant UPS in NYC in 2014, out of here and new money have helped 95,000 nationwide Mr. Bisignano recast the payment- PORTION See FIRST DATA on Page 36 buck ennis of New York state residents who say 30%they believe in Santa Claus

TOTAL AMOUNT New York state Links between top banks pose risks residents plan to spend on gifts this holiday season: Interconnectedness that banks extend to each other and unprecedented “quantitative eas- Financial regulators worldwide $1,000+ $0-$299 the fact that they hold similar assets. ing” program pumped hundreds of required banks to add to their fi- 23% endures despite “If everyone ends up with the billions of dollars into the markets nancial cushions in case of an un- 31% same assets, that makes the system during the past six years in an at- foreseen crisis. In October, howev- regulators’ efforts much more fragile,” Mr. Steffen ex- tempt to boost economic activity. er, the International Monetary plained. Those injections also artificially Fund flatly stated that such 14% BY RONALD FINK There are two especially com- raised stock and bond prices. padding had failed to eliminate the $600- $999 11% mon and potentially dangerous ex- risk of another meltdown. On the 11% 11% $300- Four years after President Barack amples today of bank interconnect- contrary, the fund argued that sys- $399 Obama signed the Dodd-Frank edness: The first is short-term Concerns about temic risk had reached the point $500-$599 $400-$499 Act into law in an effort to prevent loans, known as repurchase agree- where it threatens to bring about Portions total 101% because of rounding. another Great Recession, concerns ments, which totaled $3.7 trillion another Great another financial crisis “if left un- are again rising.Many of them cen- in the U.S.as of the first quarter,ac- addressed.” MACY’S has steadily increased its ter on a primary contributor to the cording to the latest Federal Re- Recession are Mr. Allen said asset prices re- seasonal hiring: crash of 2008: the linkages among serve data. Although that figure flect the Federal Reserve’s efforts to financial institutions. was down from $5.2 trillion at its rising again inject liquidity into the market, not 100,000 Despite the new Dodd-Frank peak in the first quarter of 2008, it’s the strength of the economy.When 86,000 rules, a growing number of experts still high by historical standards— the Fed withdraws that liquidity, 75,000 80,000 83,000 note that banks’ interconnected- and it troubles economists. the market could tank. At that 50,000 ness remains dangerously strong. It The second example is deriva- point, “things can go wrong very is “the issue,” said Sascha Steffen, tives contracts, the value of which quickly,” he said. 25,000 an associate professor at Berlin’s rose to $710 trillion worldwide at “If prices correct, we will have In the crash of 2008, for exam- 0 European School of Management the end of last year, from $516 tril- big financial-stability problems,” ple, many cash-strapped institu- 2012 2013 2014 and Technology. lion in June 2007. said Franklin Allen, professor of fi- tions had to sell their soundest as- Sources: Deloitte, Barnes & Noble, Bloomberg News, The collapse of Bear Stearns, Efforts by a number of central nance and economics at Imperial sets to generate needed funds. But nycgo.com, Crain’s research, Siena Research Lehman Brothers and AIG banks to stimulate their countries’ College in London.“It’s not clear to repeated towering waves of such Institute, Challenger Gray & Christmas Inc. demonstrated how one institution’s economies may have also height- me that [central banks] have sales battered down the prices of ADDICTED TO NUMBERS? GET A failure can threaten the existence of ened the risks of another global thought seriously about dealing those high-quality assets, which in DAILY DOSE AT @STATSANDTHECITY others. The main culprit: the credit meltdown. The Federal Reserve’s with inflated asset prices.” See BANKS on Page 35

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NO SUGARCOATING: TALENT POOL: Schools Chocolatier Jacques Chancellor Carmen Fariña IN THE Torres believes “you said more high-school pay a price” to build a graduates must be business in New York. prepared for technical careers. MARKETS by Aaron Elstein No bull: Analysts loaded for bear

ust as spring is when NEXT STEP: Andrew swallows return to Kimball, who runs Mission San Juan Capistrano Industry City in J Brooklyn, said New York in California, December is should invest in “broad when herds of Wall Street trends,” not specific companies. strategists produce their predictably bullish market HIGHER USE: forecasts Deputy Mayor and for the coming year. keynote speaker Yet what’s interesting about Alicia Glen plans to review zoning of the reports that are out so far is how muted warehouses used the optimism is for 2015. Strategists surveyed by only for storage. Bloomberg News forecast only a 5% advance for the Standard & Poor’s 500, or less than half this buck ennis year’s gain through November.The worriers include SMALL BUSINESS Goldman Sachs strategist David Kostin, who predicts the S&P next year will rise just 1.6% over current levels.

Then there istockphoto NY’s new manufacturing are outright bears, like economist David Levy of the Jerome Levy Forecasting puts focus on proximity Center in Mount Kisco, N.Y. He warned in a report last Executives at Crain’s no plans to leave New York. skills, and said her department is week that Europe, China and the Shapeways’ Mr. Weijmarshausen committed to such policies. confab said city must echoed that sentiment,adding that he emerging-market economies “have been support creation of sees sustainable growth in Gotham. How to fuel growth growing much more slowly than business “I have no concerns about staying Mr. Kimball, who previously executives were projecting during the past industrial innovation in New York,” he said. “We’ve been headed the city-owned Brooklyn decade as they invested overaggressively growing our team by 30% to 40% Navy Yard, was questioned about every year, and we now have 100 the role of government in develop- in new capacity.” Mr. Levy believes BY THORNTON MCENERY people.” ing private-sector businesses. there is a 65% chance of a global He said it helps that the compa- “Government engagement works downturn next year as the bill comes due. What do a real estate developer, a ny’s manufacturing in Long Island best when it identifies broad trends, 3-D printer, a chocolatier and a stu- City, Queens, doesn’t need much and it doesn’t work when investing in dio chief have in common? They all space. Mr. Weijmarshausen said individual small businesses,” he said. However it plays out, all the runs his own firm with $3.3 billion think that being around each other Shapeways is creating 80,000 3-D “The city should be investing in in- caution flags from the professional under management. is good for New York. printed products a month at its cur- frastructure to fuel growth industries pundits reflect how difficult it is to One group that shows no fear At the Crain’s Future of New rent 20,000-square-foot space. like manufacturing and tech.” stay bullish on U.S. stocks after when it comes to markets is Harvard York conference, held Nov. 20 in Astoria Studios’ Mr. Rosen- their long run-up. The case for a Business School’s newly minted crop of midtown Manhattan, Industry City bluth, on the other hand, believes bull market rests on the notion that M.B.A.s. It turns out that 30% of last Chief Executive Andrew Kimball, ‘Tech jobs government plays a key role. the U.S. economy will continue to spring’s HBS graduates have land- Shapeways CEO Peter Weijmar- “New York is costly,and film pro- grow despite persistent woes in Eu- ed jobs on Wall Street,up from 24% shausen, chocolatier Jacques Torres are growing duction is a mobile industry,” he rope and Japan, while China keeps a year ago. and Kaufman Astoria Studios CEO said,highlighting the power of New rolling even though its government That could spell trouble. Histo- Hal Rosenbluth took part in a pan- faster than any York state’s film tax credit. “You recently cut interest rates to give its ry suggests that it’s time to sell el to discuss the future of manufac- need to protect where you have a economy a boost. stocks any time 30% or more of the turing in the five boroughs. other sector’ skilled workforce and a strong infra- Perhaps the strongest remain- Harvard biz-school class head into All four executives agreed that structure. There’s a premium coming argument for U.S. stocks is that investment banking or private-eq- the city’s high costs are a constant panies are willing to pay to work pension funds and other institu- uity jobs, according to decades of burden, but the inherent density of here, but you need to figure out how tional investors, which have largely studies by former securities indus- New York is rife with possibility for high that premium is.” sat out the five-year bull market in try analyst Ray Soifer, HBS Class of those looking to capitalize on it. The job growth at Shapeways Not all the panelists had read the equities,will get over their fears and 1965. In 2007 and 2008, for in- “New York is a wonderful place goes against the popular narrative City Council’s latest proposal to re- follow those who’ve bought in. stance, 41% of Harvard M.B.A.s with so much business,” said Mr. that technology companies do not zone Industrial Business Zones by “One has to wonder when in- went to Wall Street. Torres, who owns and operates a boost employment like other sectors. adding different classifications and vestors will grow tired of being so But interest waned in 2009, small chain of chocolate shops in “I reject that notion,” said Mr. fostering diverse small-business scared,” observed renowned strate- when only 29% went into the secu- Brooklyn and Manhattan.“There is Kimball, CEO of Industry City. growth.But they welcomed the idea gist Richard Bernstein in a recent re- rities business.That, of course, was a price you pay to get that business.” “Tech jobs are growing faster than of some new thinking. port. Mr. Bernstein is a former also the year that the current bull any other sector, and they are the “There’s no one-size-fits-all ap- Merrill Lynch strategist who now market started. Ⅲ Rent spikes best available path to the middle proach to growing industrial, and I Mr. Torres was referring to the class in New York City today.” think there is now recognition of high rents on both his retail and in- During an earlier interview at this,” Mr. Kimball said, addressing RETURN GENERATED so far dustrial locations He cited the fact the same event, Schools Chancellor the City Council’s proposal. “We this year, in dollar terms, by that the 12-year-old lease for his Carmen Fariña agreed. She praised need to manage the preservation of 34%the world’s best-performing large space on Hudson Street is the state’s Career and Technical Ed- existing industrial business against stock market: India. That market’s leaders include about to expire—and the new rent ucation program, which provides taking advantage of the boom hap- Bharat Petroleum (up 104%), automaker Maruti

will increase by 600%. Still, he has students with marketable trade pening in manufacturing.” Ⅲ istockphoto Suzuki India (86%) and Axis Bank (81%).

December 1, 2014 | Crain’s New York Business | 5 20141201-NEWS--0006-NAT-CCI-CN_-- 11/26/2014 4:08 PM Page 1

COMMISSIONER THE MARIA TORRES- SPRINGER’s talk of contracts or subsidies weigh candi- a new program’s dates. He promised to spend $100 INSIDER “teeth” worries million on middle-skill-level job some business by Andrew J. Hawkins training and $60 million to steer leaders. low-income people into training. Mr. de Blasio lamented that “we have $17 billion in purchasing pow- Mayor’s newest mandate questioned er, and … historically, have used it for so little effect.” usiness leaders are questioning Mayor Bill de Blasio’s Violators face penalties. “We are new policy compelling companies that contract with requiring them to participate in this program, and we want to also make

the city to consider applicants from government job newscom sure that it has teeth,” said Maria B Torres-Springer programs. “I don’t know that it’s legitimate to make job- , commissioner of the training participation a precedent for being awarded a city Mr. de Blasio unveiled the policy $17 billion on thousands of private city’s Small Business Services. contract,” said Denise Richardson, executive director of the Nov. 21 as part of an overhaul of the companies,he noted,adding that the But industry leaders say the policy city’s $500 million-a-year training new policy will allow job-training could conflict with companies’ hiring General Contractors Association of New York. “Those are programs, which the mayor called participants to “go to the front of the processes. “I’m surprised that every- legal issues that have to be looked at.” outdated. The city annually spends line” when companies that get city one is so laudatory without thinking through the implications of this,” Ms. Richardson said, referring to supportive quotes for the policy from industry and labor leaders in the mayor’s press release. Two sources said the administration did not disclose the potential for penalties when briefing them. TOO MANY FORKS IN Another said the briefing documents lacked details on compliance. Stuart Applebaum, president of the Retail, Wholesale and Department YOUR PIE? Store Union and an ally of the may- or, said the requirements will ensure that New Yorkers from across the economic spectrum benefit from the city’s purchasing power. A spokesman for the mayor said penalties were mentioned to sup- porters, and that firms seen as failing to consider candidates as required could lose their contracts. “The quality of our service and the New Yorkers we train will ultimately determine our success,” he said. “If we get that right, it’s difficult to envision a case when an employer would not eagerly take advantage of what we’ll be providing.” The City Council’s Economic Development Committee will hold a hearing on the mayor’s training overhaul Dec. 11. Chairman Daniel Garodnick, a Manhattan Democrat, will explore whether the city should be using its leverage this way, a spokesman said. Former Mayor Michael Bloomberg built 17 job-training centers and increased the city’s annual job placements by 5,700%. But when asked by reporters if the previous administration missed a chance to prepare New Yorkers for better jobs,Mr.de Blasio said,“Yes.” Mr. Bloomberg’s former aides fired back. “Mayor Mike Bloom- berg increased job placements from 500 to almost 30,000 a year, all across the pay spectrum,and it led to the highest-ever number of New Yorkers with jobs,” said spokesman CALL US TODAY! Stu Loeser.“We wish Mayor de Bla- sio well in building on our historic achievements.” Ⅲ QUOTE OF THE WEEK: ‘I hope he Find out how you can join the will soon be a Lee & Associates team. professional Joel Herskowitz resident of Rikers 212.776.1222 Island’ [email protected] —Police Commissioner Bill Bratton, lee-associatesnyc.com on the “professional agitator” who splashed him with fake blood

6 | Crain’s New York Business | December 1, 2014 20141201-NEWS--0007-NAT-CCI-CN_-- 11/25/2014 6:57 PM Page 1

BUSINESS 44% Portion of NYC private wages earned by the finance industry in 1Q 2014, up from 41% in ’13 PEOPLE Source: NYS Department of Labor

NATURAL TALENT: Julianne Zaleta prefers EXECUTIVE MOVES organic extracts for her homemade perfumes. Carver Federal Savings Bank: Michael T. Pugh,43, was named chief executive at the bank, effective Jan. 1. He is currently president and chief operating officer. Blondel A. Pinnock, 46, was promoted to chief lending officer and senior vice president. She was previously president of Carver Community Development. Takisia Whites, 40, was promoted to president of Carver Community Development. She continues as nonprofit team leader in the lending department. New York Life: Kelli Parsons, 45, joined the mutual life insurance company as chief corporate communications and marketing officer. She was previously senior vice president and chief communications officer for the Federal National Mortgage Association (Fannie Mae). ICL: Carmen Collado, 50, joined the human-services agency as chief networking and relationship officer. She was previously chief government and community- relations officer at the Jewish Board of Family and Children’s Services. Mancini Duffy: Christian Giordano,41, was promoted to president at the architecture and interior-design firm.

buck ennis He was previously principal and director of architecture. GOTHAM GIGS Strategic Funding Source Inc.: Ben Johnston, 38, joined the provider of direct financing to small and midsize businesses as head of strategy and corporate development. He was previously a principal at Pine Brook. A career that makes scents Sid Lee New York: Dan Chandler,32, was promoted to co-executive creative director at the creative agency. He was previously creative director. Julianne Zaleta has a nose for the perfume biz Dan Brooks, 40, was promoted to co-executive creative director. He was When Julianne Zaleta gets a cold, her business floral designer and massage therapist, then made previously creative director. ‘I’m more Rodale Inc.: Melanie suffers. Ms. Zaleta, a self-described natural the leap from massage oil and aromatherapy to Hansche, 36, joined interested perfumer, spends her days sniffing scents like perfumery 15 years ago. ¶ “It’s a lot more creative the publishing company as Flora, her own mix of carnations and Mitti oil, or and fun, and better money,” she said. “You can executive director of in wood creating Viper Oil, a cure-all remedy, with the only sell a bottle of massage oil for so much food content and strategy, a newly smoke, herbs from her local community garden. ¶ She money—there’s not a lot of markup for a lot of created position. only uses plant-based scents and runs a perfume labor.” ¶ Ms. Zaleta, who leads workshops at the She was previously vanilla or atelier, Herbal Alchemy Apothecary, out of her Brooklyn Botanic Garden and 92nd Street Y, is managing editor at Australia’s Donna Hay Magazine. cinnamon Park Slope home, charging $190 for 90-minute seeing demand in Brooklyn for “slow perfume”— Cushman & Wakefield: Joseph Caridi, personal consultations that include a quarter- a takeoff on “slow food” that is more time- 48, joined the real estate firm as senior managing director of the tristate —things ounce of perfume. ¶ “I don’t go to department intensive than using man-made chemicals. For region. He was previously tristate stores—I don’t want to put my nose into those example, if she runs out of hand-picked lavender region chief operating officer at from real Colliers International. synthetic bottles and breathe those chemicals,” after the growing season, she has to wait until the Madison Square Garden Co.: Andrew life’ Ms. Zaleta, 54, said. “I’m more interested in wood next year to pick more, and the new batch will Lustgarten, 37, joined the sports and smoke, vanilla or cinnamon—things from real smell different depending on how much rain has entertainment company as executive vice president of corporate life.” ¶ Growing up in Detroit, Ms. Zaleta spent fallen. ¶ “It’s very much like grapes and wine,” she development and strategy. He was her days foraging for plants, then smashing said. “You can get a different oil from the same previously senior vice president of global strategy for the National lavender into soap and floating flowers in water field year after year, which makes my job that Basketball Association. jars.Though a political-science major, she was a much more difficult.” —adrianne pasquarelli —nazish dholakia

December 1, 2014 | Crain’s New York Business | 7 20141201-NEWS--0008-NAT-CCI-CN_-- 11/26/2014 11:53 AM Page 1

OPINION CRAIN’S NEW YORK BUSINESS

For a fairer, friendlier city editor in chief Rance Crain publisher, vp Jill R. Kaplan he city’s business-improvement districts bathroom breaks. Letter grades are for the birds, apparently. EDITORIAL editor Glenn Coleman must be in pretty good shape to be Meanwhile, surveys show nearly half of all Times Square managing editor Jeremy Smerd complaining about food carts and workers have had negative experiences with costumed deputy managing editors Valerie Block, Erik Ipsen costumed characters. But although these characters. But tourists take the brunt of their bad behavior. assistant managing editors Barbara Benson, problems pale in comparison to the crime The anonymity afforded by furry masks emboldens the Erik Engquist senior news producer Amanda Fung and grime of decades past, it doesn’t mean entrepreneurs within to hassle and intimidate visitors into contributing editor Elaine Pofeldt columnists Greg David, Steve Hindy, Alair Townsend they should be ignored. giving $5-per-creature tips, while women endure catcalls senior reporters Theresa Agovino, Food vendors appear to have “cart” blanche, so to speak, to and even groping. A simple badge—say,“Elmo No. 6”— Aaron Elstein, Lisa Fickenscher, Matthew Flamm, Daniel Geiger, Adrianne Pasquarelli set up anything, anywhere. Some of their contraptions are matchable to the bearer’s real identity by the Department of reporters Joe Anuta, Chris Bragg, T Andrew J. Hawkins, Irina Ivanova, tall and garish enough to be seen blocks away—often Consumer Affairs would suffice to curb costumed Jonathan LaMantia, Thornton McEnery obscuring rent-paying retailers from view. Frankfurter sellers characters’ excesses and safeguard the city’s booming tourism reporter/videographer Ken M. Christensen news producer Emily Laermer with their gas-powered generators hog up busy sidewalks, industry. web reporter/producer Nazish Dholakia causing pedestrian bottlenecks that become a virtual Other elements of a art director Steven Krupinski Curb masked deputy art director Carolyn McClain blockade if even a few customers queue up. Stately buildings hastily written City staff photographer Buck Ennis copy desk chief Steve Noveck like the Metropolitan Museum of Art are marred by an characters and Council bill, including copy editor Thaddeus Rutkowski impassable line of vendors interfering with the midblock- fingerprinting and a data editor Suzanne Panara end vendors’ researchers Jessica Kramer, Nicholas Wells crossing rights New Yorkers hold dear. $175 license fee, are intern Gemma Follari The carts’ operators may make peanuts, but their owners ‘cart’ blanche unnecessary. Its author, ADVERTISING can afford to adorn our streets with something more Bronx Councilman advertising director Joanna Harp sales manager Irene Bar-Am attractive than sign-clad eyesores.The city’s successful Andy King, should senior account managers Jill Bottomley Kunkes, Courtney McCombs, standardization of newsstands could be a model for food- have consulted with Rob Pierce cart modernization. And the Department of Transportation Times Square business account managers Zita Doktor, Stuart Smilowitz sales coordinator LeAnn Richardson should make vendors leave room for foot traffic, as it does groups and knowledgeable council representatives rather credit Todd J. Masura (313-446-6097) restaurants with sidewalk cafés. than rushing to become a superhero himself. CUSTOM CONTENT, EVENTS AND PRODUCTION Equality—the mantra of Mayor Bill de Blasio—should A little common-sense regulation of food vendors and director of custom content Trish Henry director of audience & content also prevail at his Health Department.The agency polices masked Muppet imitators would go a long way toward partnership development Michael O’Connor director of conferences & events food safety at restaurants in sometimes draconian fashion, improving the experience of tourists and New Yorkers while Courtney Williams yet pigeons peck unabated at carts’ grills during operators’ protecting the city’s brick-and-mortar businesses. events coordinator Adrienne Yee events coordinator & scheduler Alexis Sinclair reprint account executive Alicia Samuel production and pre-press director CRAIN’S ONLINE POLL COMMENTS Simone Pryce ONLINE AND INTERACTIVE SERVICES general manager Rosemary Maggiore TO SUBSCRIBE: Unwelcome wagon For print and digital subscriptions or customer service, e-mail [email protected] or call 877-824-9379 (in the U.S. and Canada) or VENDORS OUT OF HAND but it’s an important 313-446-0450 (all other locations). $3.00 a copy for point. Food carts have the print edition; or $99.95 one year, $179.95 two years, for print subscriptions with digital access. I could not agree more with become the new www.crainsnewyork.com/subscribe Dan Biederman of the 34th squeegee men: a symbol TO ADVERTISE: ap images Street Partnership and Bryant of a city not in control Park Management Corp. even of its own streets. Contact Joanna Harp at [email protected] or call 212-210-0278. DO YOU SUPPORT concerning the food carts that —frank chaney www.crainsnewyork.com/advertise have grown into major Manhattan PRESIDENT OBAMA’S FOR INFORMATION ON OUR EVENTS: problems in every borough Contact Courtney Williams at IMMIGRATION ORDER? (“Hates, hates, hates food Thank you, thank you [email protected] or 212-210-0257. carts,” Nov. 17). As a native and thank you for www.crainsnewyork.com/events Yes. If Congress won’t act, the president New Yorker, I would sooner bringing this issue into TO CONTACT THE NEWSROOM: should, in order to keep millions of families lick the sidewalk than eat FOOD-CART FOE: the forefront. As the 685 Third Ave., New York, NY 10017-4024 and businesses intact. anything from any cart on any BID chief Dan director of a small BID editorial phone: 212-210-0277 block. Keep up the good work Biederman in the Bronx, I am fax 212-210-0799 No. The action only further divides the country, Entire contents ©copyright 2014 Crain Communications Inc. and have these movable roach buck ennis constantly battling usurping Congress without providing a lasting All rights reserved. ®CityBusiness is a registered trademark solution. coaches removed from city vendors, many of of MCP Inc., used under license agreement. streets. can’t imagine any other world whom are rude and CRAIN COMMUNICATIONS INC. BOARD OF DIRECTORS Date of poll: Nov. 21 —maureen walthers city—such as Paris (the Louvre) disrespectful.Their 270 votes chairman Keith E. Crain or London (the British representative is so off-base in president Rance Crain During a recent visit to the Museum or its best and most his comments.That he is treasurer Mary Kay Crain Metropolitan Museum of Art, famous shopping streets)— choosing to ignore the real Cindi Crain my wife and I lamented how the allowing this to happen to its issues is very sad. I am an executive vp, operations William Morrow food carts have basically become premier cultural venue. African-American woman and executive vp, director of strategic operations Chris Crain 46% 54% a nearly impenetrable wall of I love a Sabrett’s on an immigrant, and I intensely executive vp, director of corporate Yes No tacky commercialism blocking occasion just as much as the dislike the vendors who litter operations K.C. Crain off the front of the museum. next guy, but there’s got to be and are disrespectful. Would he senior vp, group publisher David Klein The sidewalk all around the some kind of limit to all this. also call me racist? vp/production, manufacturing David Kamis chief financial officer Thomas Stevens entrance is grease-stained and The reaction I get when I talk —marcia cameron chief information officer Anthony DiPonio littered with wrappers and about this sometimes makes Executive director, founder G.D. Crain Jr. (1885-1973) straws and bits of food. One me feel like a grumpy old man, Jerome-Gun Hill BID chairman Mrs. G.D. Crain Jr. (1911-1996) secretary Merrilee Crain (1942-2012) FOR THIS WEEK’S QUESTIONS: CRAIN’S WELCOMES SUBMISSIONS to its opinion pages. Send letters to [email protected]. Send columns of 475 Go to www.crainsnewyork.com/poll to have your say. words or fewer to [email protected]. Please include the writer’s name, company, address and telephone number.

8 | Crain’s New York Business | December 1, 2014 20141201-NEWS--0009-NAT-CCI-CN_-- 11/25/2014 6:56 PM Page 1

ERIC ADAMS Vest,a personal-finance tool with an online tool kit. One of the city’s largest employers is a fintech com- Don’t disrupt pany: Bloomberg LP. Some of fintech’s most exciting new entrants are building technologies based on the digital currency the disruptors Bitcoin. Unfortunately, New York has not effectively dealt with Bit- coin’s regulatory challenges. As a ur city’s economy is rapidly changing.Jobs and in- result,companies have looked to set dustries of the 199 0s are giving way to new and up shop in Silicon Valley. New York—in this case the state exciting technologies.As a city,we must stay at the Department of Financial Serv- forefront of new industries for our economy’s sake ices—must be more welcoming by and to ensure that quality jobs are created here. pursuing common-sense regulation Tech has been one of the biggest local job creators. HR&A so the city can benefit from this ac- O tivity. A 2014 report by Accenture Advisors found that nearly 300,000 local jobs produce, facilitate and the Partnership Fund for New or are enabled by technology,45,000 of which were added in the York City found global investment in fintech ventures has tripled to past decade. Look at MakerBot, a lenge of urban life. nearly $3 billion and will grow to $8 3-D printer manufacturer based in New York needs to be just as billion in 2018. Brooklyn,which was sold in 2013 for forward-thinking to seize opportu- I am keenly aware of the need to more than $400 million. Three-D nities before us. Rather than apply welcome new industries and sup- printing is changing how we ap- byzantine, outdated regulatory port companies that drive econom- proach everything from construction frameworks to disruptive technolo- ic growth. Fostering a vibrant and to consumer goods and from medi- gies,we should create fair and sensi- diverse economy attracts young cine to motors. This kind of disrup- ble rules that allow entrepreneurs to minds, new ideas and thousands of tion creates a market, displacing an grow here. If not, we risk regulating jobs.We should welcome disruptive earlier way of doing things. ourselves out of valuable economic technologies. Innovation always That’s only the beginning. Our activity and tax revenue. carries risk, but we can address that smartphones carry apps for disrup- Take financial-services technol- through a regulatory framework tive technologies that are altering ogy. New York City has long been that doesn’t stifle growth. everyday life. Uber and Lyft have the global center of finance and the Our job is not to disrupt the dis- changed how we catch a crosstown global hub of fintech innovation. ruptors. Our regulatory approach ride, and FreshDirect how we buy Just as Nasdaq pioneered the elec- must be reprogrammed to embrace groceries. There’s a creative mind tronic stock market here in the and collaborate with innovators. somewhere in this city right now 1970s, software-focused fintech thinking up the next great technol- companies are seeking to make it big Eric Adams is the Brooklyn borough ogy to reimagine another daily chal- in the Big Apple, including Learn- president.

PAY CHECK: AVERAGE It pays to work WAGE BY BOROUGH 12-month Average increase weekly (3/31/13 in Manhattan Borough wage to 3/31/14) Manhattan $2,749 +12.0% he economic growth of the boroughs outside Queens $911 +1.3% Manhattan has been justly celebrated.Private-sec- Bronx $811 +2.2% tor jobs increased by 11% in Brooklyn, the Bronx, Staten Island $802 +1.8% Queens and Staten Island during the recovery, Brooklyn $760 +0.8% while Manhattan saw a mere 4% gain, noted a recent report from the Federal Reserve Board of New York. WEEKLY WAGES FOR HEALTH T AND EDUCATION JOBS That’s great news, but anyone who wants to make real money in New York needs to work in Manhattan, as another recent Manhattan $1,206 Bronx $914 report showed, this one from the U.S. Bureau of Labor Statistics. Staten Island $896 The headline behind the BLS Queens $765 report was impressive on its own: The average weekly wage in Man- Brooklyn $737 hattan jumped 12% in the 12 months ended March 31, driven by WEEKLY WAGES a rebound in financial services.That FOR TECH JOBS was the second-best performance $2,682 among the 300-plus counties in the Manhattan country with more than 75,000 jobs. Brooklyn $1,520 It was also the highest average wage Queens $1,430 of any of the counties, even better than Silicon Valley hub Santa Clara GREG DAVID Staten Island $1,326 County. Bronx n/a None of the other boroughs in n/a-Not applicable New York even matched the nation- even out pay disparities across the Source: U.S Bureau of Labor Statistics al 3%-plus increase in wages during city. Yet wages in these sectors are the same period. more than twice as high in Manhat- The advantages of working in tan as elsewhere. and design—are 76% higher in Manhattan go far beyond finance. It is the same in tech, despite all Manhattan than in Brooklyn. Consider health care and education the hype for the Brooklyn boomlet. The bottom line: Manhattan is a jobs. Union contracts and reliance The average wages in the techiest of long way from losing its status as the on government programs should tech industries—computer systems driver of the city’s economy. 20141201-NEWS--0010-NAT-CCI-CN_-- 11/25/2014 6:58 PM Page 1

HEALTH CARE INSIDE The List New York City’s largest health insurers PAGE 13

‘We’ve had to step up our game a little bit’ REPORT —Seth Diamond, chief operating officer, MetroPlus, Page 14 Docs and insurers spar over IN THE MARKET: Peter bills Wilk must search for a new health plan. New law takes effect soon, but rules are still missing

BY JONATHAN LAMANTIA

Surprise medical bills have long been a battleground issue for An- drew Cuomo,both before and after he became governor. This year’s budget includes consumer protections against surprise bills from out-of-network providers. The new law takes effect in April. But four months before implementation, the law still is a work in progress. Two of the health care industry’s most influential players—physicians and insurers—disagree on final rules, which have yet to be issued by state insurance regulators. The state Department of Financial Services declined to comment for this story. Providers and insurers are still exerting influence over how the new law will be implemented, with concerns over who has re- sponsibility to disclose what providers charge, and how to benchmark reasonable fees. Fighting among providers and insurers has derailed similar legislation in Maryland and Col- orado, said Jack Hoadley, a re-

buck ennis search professor at Georgetown University’s Health Policy Insti- tute. Policy experts hope New York won’t be next. “New York has a chance to try something and make it work, and that really hasn’t happened be- Obamacare, round two fore,” said Mr. Hoadley. The challenge with out-of- Insurers compete celed—and that his options on the INSURED tion will be fierce for specific popula- network fee legislation,he added, state insurance exchange exclude his tions—particularly young, healthy “is to make sure that you’re not for health reform’s specialists. Such is the experience of Projected number of private New Yorkers. left with either the provider or the New Yorkers navigating year two of insurance plans bought in “It’s about the quality of [con- insurance company completely stragglers and Obamacare. NYS through Obamacare. sumer] acquisition,” said Matt Hen- holding the bag.” New York was one of the success 720,000 ry, vice president of health care for Pressure for a law in New York comparison shoppers stories of the Affordable Care Act Audience Partners, a data-driven intensified in 2012 after the state rollout. The state signed up 1 million marketing firm that counts several in- Department of Financial Serv- BY IRINA IVANOVA people for private insurance or Med- surers as clients. “To make this whole ices issued a report that examined icaid during its first year. Nationally, thing work financially, the ratio of the issues underlying some 2,000 370,000 A waitress buys health insurance and one in seven Obamacare enrollees people aged 18 to 34 in an insurance annual complaints about medical finds a much better deal than the cov- were New Yorkers who bought plans plan needs to hit 37.5%,”he said.That billing. erage at her former $70,000-a-year on the New York State of Health, the ratio was 31% last year in New York, The out-of-network con- teaching job. A marketing consultant state’s exchange. better than the national average but sumer protection law, passed last who’s been self-employed for a decade For insurers,year one will be tough still below target. March, holds patients harmless discovers his health plan was can- to beat. In the second year, competi- 2014 2015 See OBAMACARE on Page 14 See BILLS on Page 12

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REPORT HEALTH CARE

WHAT THE NEW OUT-OF-NETWORK LAW DOES Law tackles surprise bills ● Protects consumers from surprise medical bills ● Requires new disclosures from insurers, hospitals and doctors Continued from Page 10 agree about who should disclose in- ward,” he said. in emergency situations when they formation about networks to pa- Back when Mr.Cuomo was New ● Simplifies the online process for patients to can’t have a say in which providers tients. Doctors claim that it is diffi- York’s attorney general, he brought submit out-of-network claims treat them. It also applies to out-of- cult to keep track of changes in a lawsuit against UnitedHealth ● Sets benchmark rates for out-of-network reimbursements network specialists,such as anesthe- health plans’ networks. Insurers as- Group that led to the creation of siologists or radiologists, who pro- sert that physicians are in a much Fair Health, a database designed to ● Creates an independent dispute-resolution process

vide care without prior consent from better position to share important calculate “usual, customary and rea- Source: Department of Financial Services istockphoto patients. disclosures with patients. sonable” payments to doctors and The law requires disclosures New York’s insurance industry is hospitals for out-of-network care. from physicians, hospitals and But insurers weren’t compelled to rate, wouldn’t be in business.” and the arbitration vendor has not health plans to better inform pa- benchmark against Fair Health data been announced. tients about when they are covered, ‘There are when paying claims for non- Going to arbitration Dr. Kleinman said the only way how much they should expect to be network treatment. Insurers hope the new law final- doctors and health plans will know if charged and what costs an insurer a lot of open The 2012 report by state insur- ly reins in the small number of spe- this new dispute-resolution process is will reimburse. Additionally, health ance regulators found that insurers cialists who don’t belong to any in- working is if both sides turn to IDRE plans must update enrollees within unresolved were moving away from basing their surance networks and routinely less often.That is because the arbitra- 15 days if they add or remove partic- reimbursements on the “usual and price-gouge patients for out-of- tor decides whether the appropriate ipating physicians, or if physicians issues’ customary rate” in a geographic network care, HPA’s Mr. Macielak fee is the doctor’s charge or the insur- change hospital affiliations. area. Instead, they were moving to a said. er’s reimbursement. So in theory, benchmark based on Medicare, Under the new law, disagree- health plans that are stingy with rates Disclosure dance which pays providers less than comments over fees will be decided by an and physicians who overcharge will But coordinating a delicate dance mercial insurance.That shift has led independent dispute-resolution en- self-correct if they continually lose among providers and insurers— to more “balance billing” from tity, or IDRE, that will rule on dif- disputes, Dr. Kleinman said. through rules that specify exactly pushing for tweaks to the new legis- providers—surprise medical bills ferences between a physician’s With a law that has so many how each player will give patients ac- lation so that it requires doctors to that can leave patients on the hook charge and a health plan’s reim- moving parts, implementation curate, updated information—will provide readily available fee infor- for thousands of dollars. bursement. Patients are kept out of could be tricky. The health care in- be a challenge, said James Fouassier, mation, and not just on request, ac- “Medicare reimbursement is so the process. dustry is hoping for guidance from associate director of managed care at cording to Paul Macielak, president grossly below what the going rate Arbitration will streamline dis- DFS well in advance of the law’s Stony Brook University Hospital. and chief executive of the New York is—it’s below what the going rate pute resolution, confining it to 30 April 1 effective date. “Having conflicts among the in- Health Plan Association. was 25 years ago,” complained Dr. days, said Douglas Bohn, a partner “There are a lot of open un- formation is almost as bad as not “The affirmative obligation to Andrew Kleinman, president of the in Cullen & Dykman, a Garden resolved issues,” said Mr. Macielak. having the information out there at disclose the doctor price—that’s Medical Society of the State of New City, L.I., law firm. “Not having regulations and guid- all,” he said. something we think really needs to York.“A lot of physicians,if they had But just how the IDRE process ance in place, the closer you get to Physicians and health plans dis- be changed in the law going for- to do everything at the Medicare will work hasn’t been hashed out, April 1,the more problematic it is.” Ⅲ

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12 | Crain’s New York Business | December 1, 2014 20141201-NEWS--0013-NAT-CCI-CN_-- 11/25/2014 6:58 PM Page 1

NEXT WEEK: THE NYC’s Largest Health Insurers Best Places to Work LIST Ranked by number of enrolled NYC members in New York City THE SCOOP TRENDS Signing up ACA enrollees by borough1 Medicaid CHP2 All QHPs3 he number of New Yorkers enrolled in plans through the 10 largest health 4.6% insurance companies grew by 6.3% in the past year, thanks largely to full im- Bronx 75.5% 19.9% plementation of the Affordable Care Act and the expansion of Medicaid. All 5.3% insurers who reported enrollment numbers for Crain’s list showed increases in Brooklyn 61.4% 33.3% their Medicaid rolls. 3.0% HealthPlus Amerigroup, a subsidiary of Wellpoint Inc. and No. 8 on Crain’s list, saw its rev- Manhattan 52.1% 44.9%

T istockphoto enue jump by 41.8%, totaling nearly $2 billion in 2013. “The revenue increases reflect our 5.6% ability to outreach to members,ensuring that they’re seeing their doctors,”said Jack Stephen- Rising steadily Queens 61.1% 33.3% son ,president and chief executive of HealthPlus.State-funded premiums can increase four- New York state’s spending on fold, Mr. Stephenson said, if an enrollee goes from “healthy nonuser” to “healthy user” pre- Medicaid is projected to Staten Island 57.5% 7.3% 35.2% mium categories by visiting their primary-care physician once a year. “We want people to grow 17% over five years 020406080100 see their doctor,” he said. “To get preventive care, get timely and high-quality care.” (figures in millions). 1-As of April 15, 2014. 2-Child Health Plus. 3-Qualified health plans. Source: NY State of Health 2014 Open Enrollment Report Insurance companies found that the ACA encourages people to become more involved Medicaid in their health care. “We’ve been trying to have a heightened sense of giving individuals the tools and the information they need to make informed choices,” said the Rev. Patrick $20M $19.1M Who’s covered Frawley, president and chief executive of Fidelis Care New York (No. 9). Fidelis increased its city membership by 17.2% since last year, the largest jump on the list. 19M Portion of population with insurance, by borough In the past year, Fidelis opened a revamped website and a redesigned member portal. 2010 2013 The firm is currently piloting self-serve kiosks across the state to provide residents with 18M 92.2% 91.8% 85.0% 86.2% 86.5% 88.8% 89.7% insurance information. It will expand the program if it’s deemed successful. 83.7% 82.2% 82.2% Aetna , the nation’s third-largest insurer (and No. 3 on Crain’s list) reported an 8.6% in- 17M crease in city members in 2014, to 1.1 million, and a 7.1% jump in revenue. Steve Logan,president of Aetna’s New York market,said the company saw growth in many sectors.To cite just 16M one, “private exchanges are becoming more popular for our national accounts, middle- 2014 2018 market and small-group,” he said. “We’ve seen solid growth across the board.” Source: NYS Division of the Budget, Bronx Brooklyn Manhattan Queens Staten Island —nicholas wells Mid-Year Budget Update Source: U.S. Census, American Community Survey

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December 1, 2014 | Crain’s New York Business | 13 20141201-NEWS--0014-NAT-CCI-CN_-- 11/25/2014 6:59 PM Page 1

REPORT HEALTH CARE Oscar insurance Obamacare 2.0

Continued from Page 10 health plans on the exchange in the targets freelancers Most eligible New Yorkers who nine counties where it operates. Re- had an incentive to get coverage like- cently, it introduced such perks as a ly have done so. The uninsured are $20 reward for getting a flu shot and working spaces, freelancers, real es- Maimonides spokeswoman said harder to reach. They often are non- $60 for a wellness visit—preventive Startup’s branding tate brokers,” said Mario Schlosser, Oscar “announced that they are native English speakers, don’t under- services that are already free under lures tech-savvy one of Oscar’s three founders. dropping Maimonides from their stand health insurance or are healthy Obamacare. Oscar also will pay its Asked if he expected many for- plan,effective Jan.1,but we look for- folks deterred last year by Oba- doctors to email and text patients. independent workers mer Freelancers Health Insurance ward to discussing the matter further macare’s technology glitches. Eventually,the company hopes to of- members to switch to Oscar, Mr. with them in the near future.” For some,insurance is still just too fer one-click online scheduling, said Schlosser gave a cautious yes. “We Oscar’s strategy is to create a expensive; on average, this year’s pre- co-founder Mario Schlosser. BY IRINA IVANOVA have a good product for people who seamless experience with the re- miums are 4.5% higher than last used to be in that land. We’re defi- sources it does have.The company is year’s. Exchange officials are urging Immigrants and freelancers The cancellation of Freelancers encouraging doctors to email and current enrollees to shop around— Despite its tech prowess, Oscar Health Insurance, which will leave call their patients by paying them for which means everyone is in play to be also is struggling to reach certain po- 25,000 members without their Oscar, with its that service. poached by a competing insurer. tential customers. Oscar’s marketing health plans next year, is good news Young people need a lot more materials were available in Spanish for other insurers who are luring the reminders and Selling convenience prodding to sign up: as many as 15 last year, but “neither we nor anyone displaced enrollees to their own One member tweeted that having ads, messages or prompts to actually else had been able to go deeper into plans. Among them: Oscar Health, perks, ‘is like Oscar insurance, with its reminders choose a plan, said Mr. Henry.Insur- the Bronx or Queens,” he added. an insurance startup that targets in- and perks,“is like having a third par- ers are turning to mobile advertising, Another population targeted by dependent workers. having a third ent.”It’s a strategy that works on two a channel that wasn’t widely the insurance industry is the Funded by venture capital, the levels. Encouraging members to get used last year but is very ef- 25,000 New Yorkers who insurer acquired 17,000 members parent’ preventive care gives Oscar healthier fective in reaching a youthful 4.5% had been insured through since its launch in 2013. This year, enrollees.The “high touch”approach audience. AVERAGE Freelancers Union. The the company is setting a goal of cap- makes members feel they’re getting a Insurance newbies are INCREASE in NYS health plan was not compli- turing a 10% share of all new en- boutique product. harder to enroll.They often in Obamacare ant with the ACA, and in premiums in rollees who sign up on the state’s The next step in Oscar’s quest for must be taught why insur- 2015 over 2014 October Freelancers Union Obamacare exchange, the New nitely going to be out there and have convenience? Helping book doc- ance is important and how announced a deal that gave York State of Health. conversations with them,” he said. tors’ appointments through Oscar. to use it. Still, that target Empire BlueCross Blue- These conversations also are ZocDoc is the national leader in population is coveted by health Shield an advantage in enrolling Signing up coders crossing the river, as Oscar expands that niche, but Oscar would be one plans, Mr. Henry said, because once those members. But signing up with Oscar recently appeared at the to New Jersey, where it will be vying of the first insurers to follow suit. they are signed up, they are usually Empire is optional—and these New New York Code + Design Academy against only six other companies. In “I’d love to have a button you much less likely to switch to a com- Yorkers are fair game for Empire’s to talk about how the Affordable New York, where Oscar competes click to say,‘I want to have a wellness petitor. That means such members competitors. Care Act has an impact on inde- with 16 carriers, its network is nar- visit,’ put the times you’re available are more profitable, given that the Independent workers are “poster pendent workers. It’s the first of rowing. Memorial Sloan Kettering and have it automatically book an cost of acquiring each new enrollee children for subsidies,”said Elisabeth many marketing initiatives aimed at Cancer Center and Maimonides appointment,” Mr. Schlosser said. is $60 to $300, according to Audi- Benjamin, vice president of Health freelancers. Medical Center will no longer be “Many, many doctors would love to ence Partners’ research. Initiatives at the Community Service “We’re doing a lot with co- part of Oscar, starting next year. A do this as well.” Ⅲ One insurer targeting eligible im- Society of New York, which has a migrants is MetroPlus, an estab- state contract to help people sign for lished Medicaid player that launched health coverage. Photo Credit: Buck Ennis, Crain’s New York Business its first commercial product in 2013. “Freelancers tend to have business CRAIN’S Business Breakfast Forum The health plan grabbed a 35% mar- expenses and deductions, and a very ket share in New York City last year, low modified adjusted gross income,” attributable to its low premiums. Ms.Benjamin said.“Last year,a lot of But for Obamacare 2.0,several in- people came out who had some insurers have lower premiums. come and just assumed they weren’t “We’ve had to step up our game a eligible for free coverage, and found little bit,” said Seth Diamond, out they were eligible for Medicaid.” MetroPlus’ chief operating officer. Audience Partners,the consulting firm, recently launched a campaign Price matters prompted by Freelancers’ exit from Maya Dangerfield, a 26-year old the market that targets artists and student and waitress, chose Metro- other independent workers. These Plus for one reason: price. When she and other customers who lost their left her teaching job last year,she said, health plans are especially valuable to Cyrus R. Vance, Jr. she “wanted to get the minimum, ba- insurers because “they have demon- sic health insurance and dental,with- strated they are willing and able to Manhattan District Attorney out spending a lot of money.” With purchase insurance,” said Mr. Henry. subsidies, MetroPlus’ silver-tier plan For example, Peter Wilk, an inde- Tuesday, January 13, 2015 costs her just $62 a month—about pendent marketing consultant in one-fifth her former Aetna premium. Brooklyn, tried different plans with The Manhattan District Attorney will discuss: The Yale Club Like many MetroPlus members, Freelancers over the years. Premiums 50 Vanderbilt Avenue who tend to skew young, Ms. Dan- • Transformative criminal justice investments ranged from $345 to $406 a month. 8:00 a.m. – 8:30 a.m. Networking gerfield is happy about the plan’s price “For almost a decade,I was able to he’s making but not its website. buy for myself, at a fairly reasonable Breakfast • New strategies and tools to combat cybercrime “You can’t automatically pay your rate,insurance that provided access to 8:30 a.m. – 9:30 a.m. Program bill,you don’t have a profile with your the top doctors and top hospitals in • How public-private partnerships can fi ght Cost to Attend: doctor’s visit, all things that Aetna New York City,” he said. “It was very fi nancial crime and human traffi cking used to have,” Ms. Dangerfield said. manageable.” $125 for individual ticket(s) “It’s kind of a pain in the butt.” At 48, Mr. Wilk must now $1,250 for priority reserved tables of 10 By the end of 2014, MetroPlus’ comparison-shop for coverage,and is You must be pre-registered to attend this event. website will offer automatic bill pay- scheduling some procedures before Register Today No refunds permitted. >> ments and let members check their the year-end in case a new plan www.crainsnewyork.com/events-cvanceforum For more information: claims and update personal informa- bought on the exchange doesn’t cov- Sponsored by: Jordan Nowlin tion,a response to customer feedback. er his preferred hospital or out-of- Phone: 212-210-0739 Email: [email protected] “We heard you,” said Mr. Diamond. network care. Oscar Health,a new,venture-cap- One thing is certain: Thousands ital-backed insurer, is differentiating of New Yorkers will change their in- For sponsorship information, contact Joanna Harp at itself by marketing a premium prod- surance plans or sign up for the first 212-210-0278 or [email protected]. uct.The company enrolled about 4% time between now and Feb. 15. For of those who bought commercial insurers, the game is on. Ⅲ

14 | Crain’s New York Business | December 1, 2014 VIORAL HA BE HOM Y ALLY N IC S TR IA BECAUSE A TRANSFORMING N H V C Y HEALTHCARE SYSTEM E S P

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Madden-Baer R, McConnell E, Rosati RJ et al. Implementation and Evaluation of a Depression Care Model for Homebound Elderly. Journal of Nursing Care Quality. 2013. Jan-Mar; 28(1) 33-42. Madden-Baer R, Rosati RJ, Development, Implementation and Evaluation of a Psychiatric Home Care Evidence-Based Practice. Presented at the 2013 VNAA Annual Meeting, Fort Lauderdale, FL, April 12, 2013. © 2014 VNSNY 20141201-NEWS--0016-NAT-CCI-CN_-- 11/26/2014 2:07 PM Page 1

IN THE BOROUGHS MANHATTAN

to a parallel legal system seated in Over the decades, the parish be- plus the opportunity to channel $40 the Vatican, where matters are not came home to a diverse group of million from the sale into educa- Higher authority always so cut-and-dried. French-speaking immigrants from tional scholarships, led Cardinal At nearly 2,000 years, the around the world, including Haiti. Egan to his 2007 decree, which was Continued from Page 1 aging buildings in the church’s real Catholic Church ranks as one of the News that it had been slated for clo- formally carried out in 2013. The no reason to review the case,” the estate portfolio. A similar argument longest continuously operating insti- sure drew pleas to save it, from Vatican gets a 10% cut of the sale Monsignor Gregory Mustaciuolo, a was made in 2007 by his predecessor, tutions in the world. Along the way, French bishops, the French consul price, according to Mr. Borre. high-ranking official in the archdio- Cardinal Edward Egan,when he tar- it has accrued a vast collection of general in New Ms. Statz and other parishioners cese, wrote to a Vatican cardinal geted 21 parishes for closure, includ- rules and regulations known as York and even have fought back in part by chal- shortly after the suit arrived at the ing St. Vincent de Paul. (Brooklyn canon law for dealing with the less- 1868 then-French lenging the church’s math. They Holy See. and Queens lie in a separate diocese.) spiritual aspects of managing the or- YEAR church built President hired their own consultant—the He had good reason to want it This time around, of the 19 church- ganization.“We are talking about an Nicholas same one used by preservation insti- thrown out: Archdiocesan officials es that will soon sit empty, only two empire,” Mr. Borre said. “And the $50M Sarkozy. tutions such as the New York Land- had already drawn up a contract enjoy landmark protection.The oth- day-in, day-out management of PRICE the “The church marks Conservancy—who con- with a buyer willing to pay $50 mil- ers are all ripe for redevelopment. what happens in 210,000 parishes developer was for people cluded that repairs to the church lion for the property, a through- “Our churches are not meant to under 5,000 bishops or cardinals be- agreed to pay coming from all would cost a mere $365,000. block site that includes two residen- be empty and deteriorating muse- comes one hell of a management is- in 2013 over New York The arguments from both sides tial buildings on West 24th Street. ums, as I trust you will agree,” Car- sue.” and New Jersey,” are now in the hands of a Vatican dinal Dolan wrote in a Sept. 14, Even as the ranks of the faithful 10 said Claire court official known as the promoter Defying the odds 2012, letter directed at the faithful thin in America, the Vatican may DAYS parishes Lesteven, a for- of justice, who, according to Mr. But against all odds, the case of in Chelsea. “The archdiocese has not want some of its historic have to appeal mer parishioner Borre,will shepherd the case through the handful of parishioners versus the stated that the buildings of closed churches torn down. That is pre- closure who currently the legal process and write an opin- archdiocese has advanced further in parishes, if it is determined they will cisely what real estate attorney Olga does outreach for ion that will be delivered to the the Vatican’s rarefied court system not be needed for pastoral service, Statz is counting on. Ms. Statz, the another parish. “The francophone judges, who will have the final say. than any other appeal in recent mem- will be leased or sold. Such will be daughter of Haitian immigrants community worshiped together, and The fate of St. Vincent de Paul, ory. Last summer, it was accepted the case for St. Vincent de Paul.” who had attended St. Vincent de for me, that was very important.” and arguably churches around the into the highest appellate level, It remains unclear both what the Paul since the 1970s, is working country, could be answered as soon where cases are argued entirely in a interested buyer had hoped to do with with her mother,CleomieSimon,to Raising funds as next spring, when the Apostolic dead language and outcomes are de- the property when it inked a contract get the church reactivated. Ms. Statz and her mother were Signatura next meets for its biannu- cided by a few cardi- in 2013, and “It had a long reputation of serv- the de facto leaders a couple of years al conference at the Palazzo della nals behind highly whether that pact is ice, but that has now ended,” she ago in the effort to raise more than Cancelleria. ornate but firmly ‘This is the still valid. A few said, pulling stacks of case files from $100,000 in donations to pay for the The lessons learned may prove closed doors. months ago,howev- a shelf in her Murray Hill apart- church’s monthly bills. They even valuable for developers, who might In the process, canary in the er, a plan to build a ment,barely a mile from the church. drummed up $70,000 in grants from think twice before signing a purchase the group has 220,000-square- “Everyone has moved on.” the American Society of the French contract with the archdiocese,and for stalled the archdio- mine shaft’ foot, mixed-use At least for now. Legion of Honor and the French other parishes looking to save their cese’s plan to rid it- project “above and The parish she and a handful of Heritage Society. After the archdio- buildings from the wrecking ball. self of a money- around” the existing others have been trying to save since cese prohibited the cash from being But for many New York City losing asset for a church surfaced on 2007, when the archdiocese first used for repairs, however, the grants churches targeted by the latest hefty sum, and ad- the website of a warned of the closure, has roots that had to be returned. In 2008, Ms. round of downsizing, it could al- vanced a case that could set an im- company called Maddd Equities. go back to 1842. That was when Fa- Statz unsuccessfully appealed to the ready be too late. portant precedent for how the arch- The planned project consisted of a ther Annet Lafont began saying city’s Landmarks Preservation Com- According to canon law, parish- diocese must deal with future 100-room hotel, luxury condomini- Catholic mass in French, for the first mission to have the building protect- ioners have exactly 10 days after a church closures. ums and retail space, according to time in the city’s history, down on ed. But to the surprise of virtually all, closure is publically announced to “This is the canary in the mine the description, which was prompt- Canal Street. The current building she has found her greatest success in ask the bishop to reconsider, a for- shaft,” said Peter Borre, a Boston- ly taken down following an inquiry was completed in 1868. The pastor the church’s own court system. mality that kicks off the appeal based canonical court adviser hired by from Crain’s.Maddd Equities did not eventually went on to host one of the The legal breakdown goes like process, and one that is closely the parishioners to advance their case. respond to a request for comment. first racially integrated congregations this: The archdiocese has argued tracked by Vatican court officials. In late October, Cardinal Timo- Under New York law, the church in the country, and even opened a that infrastructure problems, in- “Not to exaggerate,if your first ap- thy Dolan announced the merging of could have been razed years ago. St. school in his home for black children. cluding a leaky roof,would cost $3.6 peal back to the bishop arrives on day 37 parishes in the Bronx,Manhattan Vincent de Paul does not have land- “After we win, I am going to try million to repair,and that the church 11,you’re screwed,”said Mr.Borre. Ⅲ and Staten Island in response to mark status, and the archdiocese and get that part of West 23rd Street has incurred nearly $530,000 in dwindling membership and increas- holds the property’s deed free and renamed Father Lafont Way,” Ms. debt. Those figures, coupled with a LISTEN to a discussion at ing costs for maintaining the many clear. But Cardinal Dolan is subject Statz said. dwindling number of congregants, CrainsNewYork.com/podcasts REAL ESTATE

payments that would come from the up with more cash on hand. Subway mall inks eventual Pier 6 development, which The report also assumed that the B’klyn Bridge Park according to current plans would re- Brooklyn Bridge Park Corp. could jewelry store sult in towers of 15 and 31 stories.The sell sponsorship rights and raise pri- Turnstyle,the new shopping mall be- group recently won a court injunction vate money to the tune of $30 million, neath the Columbus Circle subway Corp. rebuts foes that would stop the corporation from a prediction that Ms. Myer said was station, has snagged another tenant. selecting a Pier 6 developer, and be- too hypothetical and has not worked Madison Jewelers, a two-year-old lieves that the amount of park space in the past for others.The corporation retailer with an Upper East Side shop, he Brooklyn Bridge Park Corp. should be maximized. said that the opposition group undersigned a 10-year lease for 400 square doubled down last week in de- On Nov. 7, People for Green estimated the amount of capital re- feet on the concourse level. The ask- fense of a controversial residen- Space presented a plan showing the serves needed to run the park. ing rent was $400 a square foot. tial development at Pier 6 on the park would have enough money by “If the park truly does need the “Madison Jewelers will benefit Brooklyn Heights waterfront that it relying on the real estate projects al- money, the burden is on them to from a steady stream of customers,” contends is needed to keep the park’s long- ready in the works. Last week, the prove it—and we don’t feel they said James Famularo, the Eastern

T buck ennis term finances in order. corporation responded to the report. have done that yet,” said People for Consolidated broker who, along In the latest round of a heated battle, the corporation rebutted an alter- “The critics who have ques- Green Space’s Lori Schomp. with colleague Ravi Idnani, repre- native financing model recently advanced by the People for Green Space tioned our modeling don’t appear to The group contends that the cor- sented the tenant in negotiations.He Foundation, which asserts the new development is not needed. have a background in park manage- poration’s revenue from property-tax noted that the location sees daily foot The corporation maintains the 1.3-mile waterfront park, which stretch- ment, maritime infrastructure or values, which it collects as payments traffic in excess of 80,000 and that es from the Manhattan Bridge in Dumbo to Atlantic Avenue at the Colum- public finance,” said Ms. Myer. in lieu of taxes, will increase suffi- 170,000 people work in the area. bia Street waterfront district, near where the Pier 6 site is located. And al- Specifically, the corporation ciently to cover its costs when tax Madison Jewelers is one of sev- though it has accepted public dollars for capital construction, the body is in charged that the opposition group’s breaks expire for existing properties, eral tenants,including Dylan’s Can- charge of funding its own operations, largely through real estate projects— financial analysis was erroneous. and has called on the corporation to dy Bar and Magnolia Bakery, that which has been the source of the controversy. It did not accurately take infla- make its longer-term financial mod- have signed on for space at the sta- “We are a not-for-profit,and we don’t borrow money,”said Regina Myer, tion into account and predicted rev- el public.That revenue will go up fur- tion. Turnstyle was represented by president of the Brooklyn Bridge Corp.“Without this new construction,we enue would grow at a much higher ther as property values increase. Ms. Lisa Rosenthal and Ryan Bergman would go broke in 10 to 15 years.” rate than expenses, and thus esti- Myer said that the calculation was of Lansco Corp. Yet People for Green Space argued that the corporation can live without the mated the corporation would end speculative. —joe anuta —adrianne pasquarelli

16 | Crain’s New York Business | December 1, 2014 The Giving Guide

A Special Advertising Supplement to Crain’s New York Business The Giving Guide Special Advertising Section

It simply cannot be denied that New York is one of the greatest cities in the world. With our rich and diverse cultural assets, we have a long and deep connection to the arts, and coupled with our world-class hospitality industry, you would be hard-pressed to ﬁnd a better place to live, work and play. Yet as unique as New York is, perhaps one of our greatest strengths and what sets us apart from others is how charitable we are as a city.

Each and every year, the business community of New York City contributes hundreds of millions of dollars to a wide variety of worthy causes, and those donations make a sizable difference in our communities. This holiday season, we hope that the exemplary efforts of our city’s amazing businesses will exceed their high standards of generosity.

The nonproﬁt industry is a vital piece of NYC’s economic puzzle, providing thousands of jobs to motivated individuals who work around the clock to better the causes they support, and, more important, to make a difference in the lives of people both home and abroad. We at Crain’s New York Business recognize and applaud the importance of nonproﬁts, and strive to highlight the great achievements made across the industry in all of our reporting platforms, be it in print, online or through our in-person event coverage.

As hard as we strive to support and showcase the work of nonprofits, there is no time like the holidays to help make a difference and lend your charitable support. The last three months of the year are critical for so many of our cherished nonprofits to either make or miss their budgets. We hope that, as business leaders, you will consider making a powerful difference with a contribution that will make a meaningful impact on our nonprofit community.

With that, Crain’s is pleased to present you with our 2014 Giving Guide, a special advertising supplement to Crain’s New York Business, which both shines a spotlight on great nonprofits in New York City and acts a year-round reference manual for donors. Our goal is that you will find the guide to be helpful in better understanding the benefits a company can realize by becoming more actively involved in philanthropy. In addition to drawing attention to New York’s great nonprofits, the Crain’s Giving Guide also provides updates on charitable deductions for 2014, underscores how philanthropy can be an effective team-building exercise, and gives insight into creative business gifts that help give back to the community.

This time of year truly is the time for giving, and we here at Crain’s New York Business hope that the 2014 Giving Guide will inspire you to start a new nonproﬁt relationship, or enhance existing ones.

Happy holidays and warmest regards,

Jill Kaplan VP & Publisher Crain’s New York Business

Table of Contents

Business Gifts That Give Back ...... S3 Smart Tax Planning Can Strengthen Donations ...... S8 When Donating Time Builds Stronger Teams ...... S14, S16 Participants Futures in Education ...... S4-S5 The Hebrew Home at Riverdale ...... S6-S7

Crain’s 2014 Giving Guide is produced New York Women’s Foundation ...... S9 by Crain’s Custom Studio. For more information, please contact New Alternatives for Children ...... S10-S11 Trish Henry at (212) 210-0711 or [email protected]. The digital edition is available at United Way ...... S12-S13 crainsnewyork.com/givingguide. Good Will Industries of Greater New York & Northern New Jersey ...... S15 Clune Construction Company ...... S16 S2S2S2 The Giving Guide Special Advertising Section Business Gifts That Give Back

Looking to send holiday gifts your clients will really remember? Make this the year you break

away from classics like Charitable gifts can make a difference at a time when which charities matter most to them, consider giving them corporate donations to charities have stayed relatively flat, a GiveNow card through the site — it will enable them to according to the most recent statistics from the National choose their own charity for the donation. the fruit basket and give Philanthropic Trust, a public charity that provides philanthropic expertise to donors, foundations and Tap their personal interests. a charitable gift instead. financial institutions. Many clients appreciate donations in their name that show If chosen with care, a charitable gift can be especially you’ve paid attention to their passions outside of work. meaningful to clients, strengthening your personal For a client who enjoys the outdoors, consider making connection with them while simultaneously supporting a gift to The Nature Conservancy (nature.org). You can a good cause, according to Paige Arnof-Fenn, founder & adopt an acre of land for conservation anywhere from CEO of Mavens and Moguls, a global strategic marketing the Appalachians to Southwestern Australia. For a client consultancy in the greater Boston area that often serves who loves animals, consider giving to the World Wildlife clients in New York City. Fund (worldwildlife.org), where donors can adopt wildlife ranging from pandas to tigers. “It’s got to be something near and dear to their heart,” Ms. Arnof-Fenn said. “That sends a message that you listen If your clients support causes that help children, consider and care about and know them as people.” donating in their name to KaBOOM!, a national nonprofit that helps communities build playgrounds in underserved Here are some ideas on how to select gifts for clients communities. Or give to a cause that helps youngsters coping that make a difference. with disabilities, such as Autism Speaks, a New York City- based organization that funds biomedical research. Think local Education charities are also one of the top categories to If you serve distant clients who love New York, consider support, according to Charity Navigator, a nonprofit that sending a gift that reminds them of the city — and also runs a site to guide charitable giving. Save the Children helps one of New York’s art institutions. (savethechildren.org) offers opportunities to help send girls and orphans to school. For a design buff, try shopping in the gift store of the Museum of Modern Art (moma.org). Check out For entrepreneurial clients, consider making a the offerings from the Kickstarter collection, which donation to Heifer International (heifer.org), which supports artists who are turning their ideas into products. helps agricultural entrepreneurs in developing countries For Brooklyn fans, consider sending work by a local become economically self-sufficient. Another option is artisan sold through the Brooklyn Museum Shop Rising Tide Capital, a nonprofit based in Jersey City that (shop.brooklynmuseum.org). And if you’re seeking an provides training to help women, immigrant and minority entertaining gift for clients’ youngsters, check out the entrepreneurs start and grow businesses. Cubebots, a combination puzzle and action figure sold through the Guggenheim Store (guggenheimstore.org). Giving a gift that supports crafts entrepreneurs in developing economies is another option. Outreach Support a cause that has touched International (outreach-international.org/shop) — a charity based in Independence, Mo. — offers handcrafted them personally. items through its online store, which supports people in If you know clients care about a particular cause — impoverished communities. Gift items range from intricate perhaps because their family has been touched by an wooden puzzles to delicate bangles that clients can’t find at illness, or they’re passionate about an issue — donating their local mall. to their favorite charity can be a powerful way to connect. JustGive.org offers online shopping to benefit charities Many of your clients will find their desks piled high ranging from the American Cancer Society and American with generic gifts as the holidays approach. Showing you Diabetes Society to MADRE, an international human care with a thoughtful charitable gift can go a long way { rights organization focused on women. If you’re not sure toward building your relationship in 2015. S3 The Giving Guide Special Advertising Section Futures in Education

Futures In Education 243 Prospect Park West Brooklyn, NY 11215 www.futuresineducation.org

Total Employees: 11 Annual Revenue: $8,000,000 Year Established: 1989

Mission Statement: Our mission is to ensure that an excellent Catholic education continues to be a viable option for generations of students in Brooklyn and Queens.

Service Areas: Brooklyn & Queens

Managing Executives: John Notaro, Director of Operations and Programs; and Nicholas Vendikos, Director of Development

Board of Directors: Bishop Nicholas DiMarzio Ph.D., D.D., Robert B. Catell, Anthony J. Bonomo, J.D., Susan F. Altamore Carusi, Esq., Martin Cottingham, John Duane, Brendan J. Dugan, Clarissa Elgarten, Thomas Flood, Robert F. Gartland, Reverend Monsignor Jamie J. Gigantiello, Louis C. Grassi, Reverend Monsignor Kieran E. Harrington, William J. Hogan, Kevin Kearney, Esq., John A. Loconsolo, Joseph M. Mattone, Sr., Esq., Charles McQuade, Arthur Mirante II, Michael Enhancing teacher training Annual Scholarship Fund Dinner, taking place at (Buzzy) O’Keeffe, Lester J. Owens, Regina Pitaro, Providing state-of-the-art technology the Waldorf Astoria each year in OctoberThe 2015 Annual Scholarship Fund Dinner will take place on Bruce C. Ratner, Joseph Sciame Supporting extra curricular programs, including October 15, 2015. Music, Art, Gym and After-School Programs Developing marketing/recruitment strategies Goals Volunteer/Giving Opportunities: 1. General Goal: Our goal is straightforward: Alumni Outreach and School Be an Angel to a Student program Changing lives through the gift of education. Fundraising Programs An Angel helps subsidize the cost of Catholic grammar school tuition to a student by providing 2. Specific Goals: Futures In Education believes Catholic Alumni Partnership every student in Brooklyn and Queens should partial tuition assistance starting at $1,500 per School Business Partnership have the option to benefit from a life-enriching, year. Angels provide both financial support and values-centered Catholic education, regardless of act as role models in students’ lives. An investment financial constraints. We believe receiving a Catholic Fundraising Events: in an Angel student’s education is truly a life- education will provide young students with the changing gift. tools and training necessary to truly succeed in Spirit of Christmas Concert, taking place every Adopt-a-School program their future professional and personal lives. Futures December. This year’s concert is being held at the This program joins prominent businesses with In Education believes that the gift of a Catholic Co-Cathedral of St. Joseph in downtown Brooklyn financially challenged schools. A benefactor shares education has the power to trump poverty — on December 18, 2014. resources of time, talent and treasure with a students in Brooklyn and Queens should not miss Angels on the Fairway Golf Outing, taking place struggling school and its students by strengthening out on this opportunity because they simply can’t each spring at The Creek in Locust Valley, NY. The the learning environment and assuring the afford tuition. Our aim is to provide assistance 2015 Golf Outing will be held on May 14, 2015. school’s financial viability, with an emphasis on to these deserving students through endowment renewal and revitalization. funds and fundraising programs that focus on key educational priorities: “Our goal is Contact Information: Scholarships and Tuition Assistance straightforward: For more information regarding volunteer or giving Be an Angel to a Student Program opportunities, please contact Nick Vendikos, Director Diocese of Brooklyn Scholarship Changing lives of Development, at 718-965-7308 ext. 1624, or via email at [email protected]. Bishop’s Scholarship Program through the gift of Programmatic Support Maintaining up-to-date curriculum education.”

The Giving Guide Special Advertising Section The Hebrew Home at Riverdale

Photo credit: Claire Yaffa

The Hebrew Home at Riverdale Center model. The right to self-determination of Fundraising events: and Affiliates older adults guides the spirit and activities of the Weinberg Center. Hebrew Home Annual Gala, The Harry and Jeanette 5901 Palisade Avenue Weinberg Center for Elder Abuse Annual Awards Bronx, NY 10471 The Hebrew Home at Riverdale Breakfast. Phone: 718-581-1234 We empower older adults and their families – no www.hebrewhome.org matter who they are, where they are from, or what Volunteer/giving opportunities: www.weinberg-center.org their needs may be – to live the fullest lives they can through compassionate care and an innovative Volunteers work directly with residents and assist services. professional staff to achieve the Home’s mission of Total employees: 2,500 providing the best possible health care and quality of Annual Revenue: $562,861,231 We will transform the landscape of aging from a life for the elderly. Year established: 1917 fearful, unknown process into a healthy, empowered experience through innovation, compassion, What do Volunteers Do? Managing executives: Daniel Reingold, President and the highest level of care, all inspired by our Recreational Activities & CEO; David Pomeranz, COO; David Weinstein, dedication to helping our residents, members, and Rehabilitation Services EVP; Luz Liebeskind, CFO patients live a full life. Escort and Transport Mealtime Assistance Board of directors: Service area: Greater New York City (five Officers: Jeffrey S. Maurer, Chairman; Andrew boroughs), Westchester County, NY Resident Visits L. Gaines, Vice Chairman; Kenneth S. Lazar, Vice Library Service Chairman; Joseph Wygoda, Treasurer & Secretary Top sources of funding (by percent): 69% New Discussion Groups and entertainment York State Funding , 6% Federal Funding, 10% Pet Visits Directors: Robert S. Gilman, Mel Harris, Martin Private Funding, 7% Contributions, 8% Other Hoffman, Joel Hollander, Steven M. Jacobson, Docent for Museum and Home’s Art Collection Stanley M. Katz, Michael J. Klosk, Isadore Kreel, Clerical, Bookkeeping or Accounting Assistance M.D., Richard S. Lane, Sonny Loeffler, Burton P. Resnick, Thomas S. Rogers, Joshua Sapan, “Through a broad array of Who Volunteers? James A. Shifren Any individual 14-years or older looking to services, the Hebrew Home develop new skills Honorary Trustees: I. Roy Cohen, Michael Fuchs College and high school students seeking practical Milton A. Gilbert, Michael Palin, Seymour D. Reich at Riverdale offers a complete experience and internships

Corporate Groups and Employees Mission statements: It is the mission of The continuum of care, from home Harry and Jeanette Weinberg Center for Elder Professional and Business People Abuse Prevention to provide emergency shelter care and short term stays to Retirees for victims of elder abuse; to enhance professional and public awareness and knowledge about elder senior housing and residential For more information on volunteer and giving abuse; to build collaborative working networks; and opportunities, call us at 718-581-1234. to facilitate successful replication of the Weinberg long term nursing care.”

S6 Many elder abuse victims don’t have a scratch on them.

7KHȴQDQFLDOH[SORLWDWLRQRIROGHUDGXOWVRIWHQ leaves them without money, shelter, and food. It also robs them of their dignity.

Since 2005, the Weinberg Center for Elder Abuse Prevention has given emergency shelter to victims of elder abuse. We have opened our doors, served KRWPHDOVDQGSURYLGHGDZDUPEHGȃRYHU΂ times. And we have only just begun.

We will continue to create awareness of this growing epidemic and do everything we can to help. We hope you will too.

:HFDQȇWXQGRWKHDEXVHWKH\ȇYHVX΍HUHG But together, we can show them a brighter day.

7RVXSSRUWRXUH΍RUWVRUWRGRQDWH to this vital cause, please visit weinberg-center.org, or you can FRQWDFWXVGLUHFWO\DW΂΂΂RU [email protected].

With a commitment to compassion, the Hebrew Home at Riverdale empowers older adults and their families to live the fullest lives they can through innovative programs like managed long-term care, senior housing, rehabilitation, assisted living, skilled nursing care, and special programs like the Weinberg Center. The Giving Guide Special Advertising Section Smart Tax Planning Can Strengthen Donations

As principal at accounting and consulting firm Anchin, However, there is a tax advantage to donor-advised Block & Anchin, Gary S. Castle advises clients who donate funds. They allow a deduction of up to 50% of your everything from fine art to 401(k)s to charity. adjusted gross income for the year, compared to the 30% deduction you’d get if you set up a private foundation. “What people are realizing is the ability to make a difference is more than just writing a check,” said Mr. Support the arts. Castle, who specializes in impact philanthropy and art advisory in the Manhattan-based firm’s Private Client Many art collectors enjoy supporting their favorite Group. “More and more people are understanding that museums by donating to them, but it is important to there are many ways to make a difference.” plan these gifts carefully. “It is always better to give an appreciated asset away than giving cash,” Mr. Castle As many donors discover, making the best use of the said. That’s because there are more tax benefits to giving tax breaks available for charitable donations can not only the actual work of art. If you gave a work of art worth reduce what they owe to the IRS, but also make it possible $100,000, you would qualify for a deduction of $100,000, to give even more. Taxpayers took $152 billion in charitable whereas if you sold it, you’d first have to pay capital gains tax deductions for cash contributions in 2012, and $49 taxes. Once those were subtracted, you’d only have about billion in non-cash contributions, according to the most $60,000 to give to the museum. recent IRS data available. That represented an increase over 2011, when they took $138.6 billion in charitable tax deductions and $43.6 billion for non-cash contributions. Consider your long-term goals.

Here are some ways that individuals can make the most “The reason so many gifts take place around the holidays is of tax deductions for charitable giving. [because] around this time people are philanthropic,” says Thomas J. Archer, founder of The Archer Financial Group, Donate cash to a charity. a boutique life insurance advisory firm in Manhattan. However, it is important to consider your charitable goals If you give cash to a public charity, you can take an for the long term, too, he says. itemized deduction of up to 50% of your adjusted gross Many high-net worth individuals use a charitable income for the year, depending on your income. For a remainder trust to benefit a charity when they pass away. private charity, it is up to 30%. (Donations other than Once you set up a charitable remainder trust with an cash have lower limits.) To find out if an organization attorney, you can transfer a highly appreciated asset such meets the IRS’s requirements, use the agency’s Exempt as stock to it. That may enable you to receive a charitable Organizations Select Check Tool (irs.gov/Charities-&- income tax deduction, based on the value of the gift to a Non-Profits/Exempt-Organizations-Select-Check). charity or several charities. If you plan to give a significant amount to charity this The trustee can then sell the stock or other asset and calendar year, it is important to discuss the tax implications reinvest the proceeds in an income producing asset like real with your accountant. Should you make contributions that estate, Mr. Archer explains. Donors may be able to receive exceed your adjusted gross income limits this year, you may taxable income for a set period of time, but no longer than be able to carry the deduction forward into next year. “You 20 years. After that period, the remainder of the assets in don’t lose it for all time,” Mr. Castle said. “You can carry the trust is donated to charity. forward the excess for up to five years.” To make sure they can give generously to their heirs, Use a donor-advised fund. too, some donors will use the income they earn through the trust to buy a life insurance policy that will be held in a Many brokerage firms have these funds, which enable different type of trust. you to make a tax deductible contribution and then recommend grants to public charities when you are ready. Of course, if you do elaborate planning like this, it is “They can achieve the same objectives that a private very important to do your homework on any cause that foundation does, without the administrative costs,” Mr. benefit from it. “You want to make sure the charity is bona Castle said. fide and what you believe in,” Mr. Archer said. { S8

The Giving Guide Special Advertising Section New Alternatives for Children (NAC)

New Alternatives for Children (NAC) 37 West 26th Street NY, NY 10010 www.NacKidsCan.org

Total employees: 350 Annual revenue: $20 million Year established: 1982

Mission statement: NAC helps medically fragile children at risk of abuse and neglect grow up safe and secure in loving, permanent family homes and gives them the opportunities to succeed and thrive.

Service areas: Child welfare, social services, medical and mental health clinics in New York City

Managing executive: Arlene Goldsmith, LCSW, PhD, Executive Director

Board of directors: Robert L. Friedman, John R. Cannell, Esq, Vivian Farah, Jonathan A. Knee, Patricia S. Levinson, Andrew P. Mezey, MD, Barbara R. Rauch, LCSW, Peter R. Haje, Esq, Elizabeth S. Pforzheimer, David Aarons, Diane Abbey, Terri D. Austin, Esq, Bryan R. Beller, Lisa G. Clyde, Pascal Desroches, Thomas K. Duane, David Fox, Jill Sabin Garner, RN, Susan G. Gevertz, Matthew J. Gilroy, lives no matter what the need or challenges. Providing funds that we raise, that NAC is able to go above and John Grudzina, Esq, Michael A. Hollander, Joseph appropriate and specialized medical and mental health beyond and create a lasting difference in the lives of our R. Ianniello, Ronald Iervolino, Mark N. Kaplan, Esq, services, educational support and advocacy, youth children and families. Fern June Khan, MSW, David B. Ludwig, Robert D. development programs, parent support and education, Marcus, Adam L. Miller, Thomas Newman, Allison recreation programs and case management services Fundraising events: D. Penn, Esq, Eugene A. Pinover, Eric J. Rosen, under one roof is not only cost effective, but yields more NAC Kids Can Annual Gala - October 2015 Glenn Rufrano, Robert Schumer, Meryl Sherman, effective and long-lasting outcomes for New York City’s Women for Women Luncheon – May 2015 most vulnerable children. Susan M. Slater, LMSW, Tom Uger, Marc J. Zand As a result, NAC’s children do not languish in foster NAC Young Professionals Spring Fling - June 2015 care, age out of foster care or return to foster care once Corporate Sponsorship they go home or are adopted. With NAC’s help, the & Volunteer Opportunities New Alternatives for Children children we serve defy odds and go on to excel in school, (NAC) graduate from college, ﬁ nd a job, and live independently. NAC Kids Olympics NAC is funded 75% through government sources and Join 800 medically fragile children as they go for Since 1982, NAC has provided innovative and award- 25% through private funds. It is because of the private the gold in June winning health and social services for children living NAC Holiday Party in poverty who have a chronic medical condition or disability and who are in foster care or at risk of foster Help 1,000 medically fragile children and families care placement. NAC is one of the highest rated and enjoy a festive day in December most respected child welfare agencies in New York City, Holiday Gift/Book Fair/School Supply Drives serving 1,550 children annually. The breadth and quality Hold a corporate supply drive for NAC kids of our services not only assures that all medically fragile Recreation Trips children and their siblings served are safe from abuse Sponsor NAC children going to the theatre, and neglect and living with a nurturing and permanent museum or baseball game family (either birth or adoptive) of their own, but that each child has the tools and opportunities to reach his or Mentoring/ Tutoring her fullest potential. Work one-on-one with a NAC child NAC’s philosophy is to treat every child as if they Young Professionals Group were our own and go above and beyond to help NAC Join this dynamic group of young fundraisers at children and families in every aspect of their lives. nackidscan.org/YP Our interdisciplinary team of professionals from master’s level Social Workers to Pediatricians, Nurses, For more information about ways you can help contact Psychiatrists, Psychologists, Education and Vocational Jenny Traslavina at 212-696-1550 or jtraslavina@ Specialists support children from birth through college NacKidsCan.org or visit us at NacKidsCan.org and help to assure that NAC Kids Can everyday of their

S10 Children with disabilities are 4 times more likely to be abused.

But not on our watch. NAC keeps 1,550 at-risk children safe every year.

This holiday season , please help us keep our most at-risk children safe.

Learn more about NAC at www.NACkidsCAN.org New Alternatives for Children TheThe Giving Giving Guide Guide Special Special Advertising Advertising Section Section United Way of New York City

United Way of New York City (UWNYC)

205 East 42nd Street NY, NY 10017 212-251-2500 unitedwaynyc.org

Total Employees: 84 Annual Revenue: $68 million Year Established: 1938

Mission Statement: UWNYC envisions caring communities where all individuals and families have access to quality education and the opportunity to lead healthy and ﬁnancially secure lives.

Service Areas: New York City’s most challeneged neighborhoods

President & CEO: Sheena Wright

Board of Directors Officers: Chair, Robert J. Kueppers, Senior Partner, Global Regulatory and Professional Matters, Deloitte; Vice Chair, Joseph A. Cabrera, Vice Chairman, Colliers International; About Us Our Flagship Events Treasurer, Donald F. Donahue, CEO (Retired), Depository Trust & Clearing Corporation; Secretary, UWNYC is a trusted partner to all New Yorkers, The Young Leaders’ Storybook Evening black tie Cheryle A. Wills, President, JALAD Group government, corporations and community organizations. event – January 24, 2015 Our collective impact approach enables us to: The 9th Annual Power of Women to Make a Board of Directors: Andrew Alfano; Susan L. Diagnose neighborhood challenges Difference Luncheon – March 11, 2015 Burden; J. Emilio Carrillo, MD, MPH; Marianne D. Design solutions to expand education, income and The 22nd Annual Gridiron Gala – May 12, 2015 Cooper; Stephen J. Dannhauser; Kimberly B. Davis; health opportunities NYCStrong Festival – October 3, 2015 Brendan Dougher; Robert A. DuPuy; William K. Deploy resources and volunteers Flemming.; Robert L. Friedman; George B. Irish; Drive policy change guided by measured results Neil Masterson; Isidore Mayrock; Anish Melwani; Ted Moudis; Robert W. Mullen; David Owen; Anna M. Patruno; Denise M. Pickett; Jennifer J. Raab; Brad Our Impact Get Involved A. Rothbaum; Michael J. Schmidtberger; Jeffrey Sherman; Amani Toomer; David HW Turner; Karyn UWNYC’s community work is organized around UWNYC believes that everyone has a role to play in Twaronite; Nancy Wackstein; Charles P. Wang; critical and interconnected goals to move low-income making New York City work for every New Yorker. Rudolph Wynter; Kyung B. Yoon; Nancy L. Zimpher, New Yorkers from poverty to prosperity. The success of Individuals: UWNYC invites committed and Ph.D. these goals is essential to achieving our mission: new donors, volunteers and advocates to learn Education: UWNYC is nurturing leaders who will more about our Young Leaders Council, Women’s grow our economy through a suite of “cradle-to- Leadership Council and Tocqueville Society career” education programs that impact reading networks at unitedwaynyc.org/getinvolved. proficiency and improve attendance. Corporate Partners: Aligning your company’s Income: UWNYC is creating opportunities for philanthropic goals with employee giving MAKING NEW YORK CITY New Yorkers to achieve economic security by campaigns and volunteerism is a great way to boost connecting individuals and families to income employee engagement and foster teamwork. To supports for food and housing and establishing a learn more, visit unitedwaynyc.org/partners. WORK FOR foundation upon which they can move towards Invest: Make your hard earned dollars work as financial stability. hard as you do at unitedwaynyc.org/donate. Health and Hunger: UWNYC is helping adults and children gain access to healthier foods and preventative health services, erasing food deserts Please contact Mindee Barham at 212.251.2474 or with fresh produce and connecting families to [email protected] for more details. EVERY essential benefits. Strengthening New York City Nonprofits: One of UWNYC’s greatest charges is to ensure that NYC maintains a stable and robust network of nonprofit NEW YORKER health and human services organizations. No other organization is as uniquely positioned as UWNYC to be an advocate and standard setter for nonprofits.

S12 Showcase the power of your brand to an inﬂ uential network of New Yorkers across three signature United Way of New York City events.

Moving New Yorkers from THE 9TH ANNUAL POWER OF WOMEN TO MAKE A DIFFERENCE LUNCHEON poverty to prosperity.

March 11, 2015 @ Cipriani 42nd Street, NYC Join 500 inﬂ uential female executives as they honor three exemplary leaders and forge new opportunities for New York City’s children and families.

THE 22ND ANNUAL GRIDIRON GALA

May 12, 2015 @ Hilton Hotel, NYC The only event where the New York Giants and the New York Jets play for the same team. Highlights include a VIP Reception, Tailgate Experience and power-packed program honoring two players and two corporate leaders. United Way of New York City is the only organization working across NYC’s vast network of corporations, nonproﬁ ts and government agencies to fund, design and drive long-term change in education, ﬁ nancial stability and health. Join us to power that change.

UNITED WAY OF NEW YORK CITY MAKING NEW YORK CITY WORK FOR EVERY NEW YORKER. NYCSTRONG FESTIVAL

October 3, 2015, Brooklyn Thousands of New Yorkers come together for an outdoor festival like no other, complete with family activities for nearly 5,000 New Yorkers. Local sports ﬁ gures, celebrities and notables join community-minded New Yorkers from all walks of life in support of UWNYC’s commitment to communities.

For more information contact Michelle Matheson, VP, Event Marketing & Sponsorships, You can help! [email protected] or 212.251.4038 Please visit unitedwaynyc.org @unitedwaynyc The Giving Guide Special Advertising Section When Donating Time Builds Stronger Teams

Gathering at a warehouse in Yonkers to sort medical Given the abundance of worthy charities and supplies, socks, toothbrushes and other items, 15 nonprofits, selecting a cause that matches your team’s employees from the ad agency ghg (Grey Healthcare passions can take some soul-searching. “It’s definitely more Group) did their part to fight the Ebola crisis one Sunday an art than a science,” said Liz Wilkes, who runs Exubrancy, in October. a Manhattan firm that connects firms such as Tumblr and Quirky with health- and wellness-related activities, a niche Employees had come together for a Sortathon at the that extends to charitable team-building pursuits. Afya Foundation, a non-profit medical supply recovery organization whose name comes from the Swahili word for So how do you find the right event for your firm? Here “good health.” Ghg’s team organized items local hospitals are some questions to consider. had donated; these were later shipped to Sierra Leone to combat Ebola. Which charities can truly benefit from “As a health-oriented communications agency, we’re your teamwork? always trying to make people’s lives healthier,” said John If you’d like to hold a group Dietz, managing partner activity, do your homework and brand strategy director “Good corporate citizenship, to find out which nonprofits at ghg. The firm’s focus on actually need hands-on help. global health has shaped through volunteering and “Not many charities around other charitable activities at town can accommodate a the company, like the annual donations, adds to that sense large group,” Ms. Wilkes pro bono campaign it does said. Two that do work with for the Helen Keller National of purpose...” groups, she says, are Food Center for Deaf-Blind Youths Bank For New York City and and Adults. New York Cares, which holds twice-a-year service days With the holidays fast where teams can contribute to a variety of social causes approaching, many businesses are looking for team- in all five boroughs of New York City. building activities to help others in need, whether within their local community or thousands of miles away. And often, firms find that uniting for a common What is the company’s personality? cause strengthens their company culture. It may even contribute to their growth: according to 2014 research by Competing together in a fund-raising 5K race or baseball Deloitte, 82% of executives and employees who say their game could work well at a firm that employs a lot of organization has a strong sense of purpose are confident it weekend athletes, but backfire at another firm. “We have will grow this year, compared to just 48% that don’t have offices where people want to compete and sweat together, a strong sense of purpose. Good corporate citizenship, and offices where they would never want to see each other through volunteering and donations, adds to that sense of sweat,” Ms. Wilkes said. purpose, the research found. (continued on page S16)

S14 Goodwill Industries of Greater New York and Northern New Jersey BUILDING BETTER LIVES FOR OVER A HUNDRED YEARS

In 2015 we will celebrate 100 years of helping people with disabilities and other barriers to employment to gain independence through the power of work. www.goodwillnynj.org

WORKFORCE DEVELOPMENT employment | housing behavioral health services education | youth | families The Giving Guide Special Advertising Section

(continued from page S14) What does your team care about?

“Finding causes that have a relationship back to your core purpose as a company really does help,” Mr. Dietz said. “Make sure the communication of that connection is very simple and clear.”

When will you get the best turnout?

Ms. Wilkes recommends that clients schedule — or at least start — charitable events during their normal business hours, so “mandatory fun” doesn’t become an extra obligation that elongates the work day. “When people have families and children, evening events can be cumbersome, even when they are exciting and fun,” Ms. Wilkes said.

How far are you willing to travel?

One reason the Sortathon worked well for ghg’s team? It was easy to travel to the charity’s Yonkers location, Dietz said. If you’re concerned about the logistics of transporting your team to an off-site location, consider holding an event at your offi ces. Ghg also holds an in-house garage sale to benefi t God’s Love We Deliver, a Brooklyn-based charity that delivers nutritious meals to people who are too sick to cook for themselves. The fi rm’s employees bring in donations to sell and buy from City public school students to its offices once a week to learn about each other to raise funds. “It’s a way to engage everyone at the agency producing digital content and videos. “It’s a way to take learning to the in an event they can come in and participate in,” Mr. Dietz said. next level,” she said. {

Mentoring is another team-building option you can do on-site. Wilkes is currently talking with a tech ﬁ rm about bringing New York

Building a better New York, together. Partnering with Gateway for Cancer Research, Clune Construction begins the fulﬁllment of a $1 million donation to help change – and save – lives throughout New York and across the globe.

I have a renewed sense of hope. I feel so fortunate to have participated in Gateway’s trials and innovative treatments; not just for me, but to possibly help ﬁnd cures that will save others.

Michelle Ashby, Participant in a Gateway-funded clinical trial

New York Ofﬁce 212.682.1789

Visit www.clunegc.com/about/charities for more information.

S16 P033-34CL_CN_20141201.qxp 11/26/2014 1:10 PM Page 33

TO PLACE A CLASSIFIED AD, CALL 1-800-444-6007 OR VISIT CRAINSNEWYORK.COM PUBLIC & LEGAL NOTICES Notice of Qualification of Echo Notice of Qualification of 33-39 60th Notice of Qualification of Brooklyn LW Management, LLC, doing business as Street LLC. Authority filed with NY Dept. Lease Corporation, LLC. Authority ECG Management, LLC in New York. of State on 8/21/14. Office location: filed with NY Dept. of State on THE PORT AUTHORITY OF NY & NJ Authority filed with the Secretary of NY County. LLC formed in DE on 10/14/14. Office location: NY County. State of New York (SSNY) on 10/9/14. 8/18/14. NY Sec. of State designated LLC formed in KS on 6/24/13. NY Sec. REQUEST FOR PROPOSALS Office location: New York County. agent of LLC upon whom process of State designated agent of LLC FOR SALE OF LAND AND DEVELOPMENT RIGHTS LLC formed in Colorado on 3/4/14. against it may be served and shall mail upon whom process against it may SSNY designated agent upon whom process to: c/o Solil Management, be served and shall mail process to: ON DYER AVENUE AND 33RD STREET (RFP #40540) process may be served and shall 640 5th Ave., 3rd Fl., NY, NY 10019, c/o National Registered Agents, Inc., The Port Authority of New York and New Jersey is seeking to identify firms interested mail copy of process against LLC to: principal business address. DE 111 8th Ave., NY, NY 10011, regd. C/O CT Corporation System, 111 8th address of LLC: c/o National agent upon whom process may be in responding to a Request for Proposals (RFP) for the sale of land and development Avenue, New York, NY 10011. Corporate Research, Ltd., 615 S. served. KS and principal business rights on Dyer Avenue and 33rd Street. Purpose: any lawful act. DuPont Hwy., Dover, DE 19901. Cert. address: 8100 E. 22nd St. North, RFP #40540 is available on-line at: http://www.panynj.gov/business-opportunities/bid- of Form. filed with DE Sec. of State, Bldg. 500, Wichita, KS 67226. Cert. proposal-advertisements.html. Addenda to the RFP, if any, will be posted at this site. Notice of Formation of 116 Development Townsend Bldg., Dover, DE 19903. of Org. filed with KS Sec. of State, Monitor the advertisement on the web site to ensure your awareness of any changes. LLC. Arts. of Org. filed with Secy. of Purpose: any lawful activity. 120 SW 10th Ave., Topeka, KS State of NY (SSNY) on 10/23/14. 66612. Purpose: all lawful purposes. If you have any technical problems accessing the documents online, email us at Office location: NY County. SSNY Notice of Formation of SD Builders [email protected] or call (201) 395-3405 for assistance. Your e-mail should include designated as agent of LLC upon whom and Construction LLC. Arts. of Org. Notice is hereby given that a license, the RFP number, your firm name, email address, contact person, mailing address, process against it may be served. SSNY filed with Secy. of State of NY (SSNY) serial number: 1282042, for eating and telephone number. Joint Ventures/teams are acceptable. shall mail process to: c/o The LLC, on 11/05/14. Office location: NY place beer has been applied for by 245 E. 63rd St., Ste. 1101, NY, NY County. SSNY designated as agent the undersigned to sell eating place It is currently anticipated that proposals shall be due by 2:00 PM on December 16, 2014 10065. Purpose: any lawful activity. of LLC upon whom process against beer at retail in Food Square LLC/ or as otherwise indicated in the RFP documents. Proposals must have the RFP Number it may be served. SSNY shall mail DBA: Song Kran Thai Restaurant and full legal firm name clearly indicated on the outside of the package. Notice of Formation of 1384 Madison process to: c/o Slate Property Group under the Alcoholic Beverage Control Send Proposals(s) to: The Port Authority of NY & NJ, Attn: RFP Custodian, Procurement Street LLC. Arts. of Org. filed with LLC, 850 Third Ave., Ste. 16-B, NY, law at 330 8th Ave, New York, NY Department, 2 Montgomery Street, 3rd Floor, Jersey City, NJ 07302. Secy. of State of NY (SSNY) on NY 10022, Attn: Martin Nussbaum. 10001, County of New York for on- 10/16/14. Office location: NY County. Purpose: any lawful activities. premises consumption. A VALID PHOTO ID IS REQUIRED TO GAIN ACCESS INTO THE BUILDING, SSNY designated as agent of LLC IF YOU ARE HAND DELIVERING YOUR PROPOSAL. upon whom process against it may 73 WASHINGTON PLACE, LLC. App. Notice of Formation of 2403 EAST be served. SSNY shall mail process for Auth. filed with the SSNY on 13TH OWNER LLC. Arts. of Org. filed NUM PANG FRANCHISING, LLC. Notice of Formation of RSG-SHEF to: The LLC, 61-20 Grand Central 09/11/14. Originally filed with the with Secy. of State of NY (SSNY) on App. for Auth. filed with the SSNY on DEVELOPMENT LLC. Arts. of Org. Pkwy., Forest Hills, NY 11375. Secretary of State of Delaware on 11/05/14. Office location: NY County. 11/13/14. Originally filed with the filed with Secy. of State of NY (SSNY) Purpose: any lawful purpose. 09/10/14. Office: New York County. Princ. office of LLC: 295 Madison Ave., Secretary of State of Delaware on on 10/31/14. Office location: NY SSNY designated as agent of the 2nd Fl., NY, NY 10017. SSNY desig- 11/06/14. Office: New York County. County. Princ. office of LLC: 360 NOTICE OF FORMATION OF TROY LLC upon whom process against it nated as agent of LLC upon whom SSNY designated as agent of the LLC Lexington Ave., 2nd Fl., NY, NY 10017. GORDON LLC. ARTICLES OF ORG may be served. SSNY shall mail process against it may be served. upon whom process against it may SSNY designated as agent of LLC filed with Secy of State of NY (SSNY) copy of process to the LLC, c/o The SSNY shall mail process to c/o be served. SSNY shall mail copy of upon whom process against it may on 08/15/2014. Office location: NEW Carlyle Group, 520 Madison Avenue, Philips International at the princ. office process to the LLC, c/o Daniels Norelli be served. SSNY shall mail process YORK County. SSNY has been New York, NY 10022. Purpose: Any of the LLC. Purpose: Any lawful activity. designated as agent upon whom lawful purpose. Scully & Cecere, P.C., One Old Country to the LLC, Attn: Richard Mack, 60 process may be served and shall mail CHAMM ACQUISITIONS, LLC. App. Road, Suite LL5, Carle Place, NY Columbus Circle, 20th Fl., NY, NY a copy of any process against LLC to Notice of Formation of 55 W 19 LLC. for Auth. filed with the SSNY on 11514. Purpose: Any lawful purpose. 10023. Purpose: Any lawful activity. principal business address: 201 W. Arts. of Org. filed with Secy. of State of 11/13/14. Originally filed with the 840 FULTON CAD, LLC, Arts. of Org. 74th St., Apt.7B, NY, NY 10023. NY (SSNY) on 10/1/14. Office location: Secretary of State of Delaware on Notice of Formation of CHELSEA filed with the SSNY on 09/23/2014. Purpose: any lawful act or activity. NY County. SSNY designated as agent 11/06/14. Office: New York County. PHOENIX LLC. Arts. of Org. filed with Office loc: NY County. SSNY has of LLC upon whom process against it SSNY designated as agent of the LLC Secy. of State of NY (SSNY) on been designated as agent upon Notice of Qualification of 458 NY may be served. SSNY shall mail upon whom process against it may 08/18/14. Office location: NY County. whom process against the LLC may LLC. Authority filed with NY Dept. of process to: c/o Homestate Properties, be served. SSNY shall mail copy of SSNY designated as agent of LLC be served. SSNY shall mail process State on 11/6/14. Office location: NY 261 W. 35th St., Ste. 201, NY, NY process to the LLC, c/o Daniels Norelli upon whom process against it may be to: C/O The Daten Group, Inc. Attn: County. LLC formed in DE on 10001. Purpose: any lawful activity. Scully & Cecere, P.C., One Old Country served. SSNY shall mail process to the David Ennis, 444 Madison Ave, Ste 9/10/14. NY Sec. of State designated Road, Suite LL5, Carle Place, NY LLC, 568 Broadway, Rm. 401, NY, NY 510, NY, NY 10022. Purpose: Any agent of LLC upon whom process Notice of Formation of Alucia 11514. Purpose: Any lawful purpose. 10012. Purpose: Any lawful activity. against it may be served and shall Productions, LLC. Arts. of Org. filed Lawful Purpose. mail process to: c/o CT Corporation with Secy. of State of NY (SSNY) on Notice of Formation of BESOS FROM BLEU SKYE IDEAS LLC, a domestic JOSEPH AND DALIA PORECKI LLC. System, 111 8th Ave., NY, NY 10011. 10/3/14. Office location: NY County. LOLA, LLC. Arts. of Org. filed with LLC, filed with the SSNY on 4/16/14. Art. of Org. filed with the SSNY on DE address of LLC: c/o The SSNY designated as agent of LLC Secy. of State of NY (SSNY) on Office location: New York County. 02/03/10. Office: New York County. Corporation Trust Co., 1209 Orange upon whom process against it may 09/12/14. Office location: NY County. SSNY is designated as agent upon SSNY designated as agent of the St., Wilmington, DE 19801. Cert. of be served. SSNY shall mail process SSNY designated as agent of LLC whom process against the LLC may LLC upon whom process against it Form. filed with DE Sec. of State, to: c/o Thomas Sinchak, 30 Deacons upon whom process against it may be served. SSNY shall mail process may be served. SSNY shall mail 401 Federal St., Dover, DE 19901. Lane, Wilton, CT 06897. Purpose: be served. SSNY shall mail process to The LLC, 203 W. 90th St., 10C, copy of process to the LLC, 250 E. Purpose: all lawful purposes. any lawful activity. to the LLC, Ronnie Livia, 400 E. 56th NY, NY 10024. General Purposes. 53rd Street, Apt. 2303, New York, NY St., Apt. 5B, NY, NY 10022. Purpose: 10022. Purpose: Any lawful purpose. Notice of Formation of 360 CPW LLC Notice of Formation of Veloce Air Any lawful activity. NOTICE OF FORMATION OF AWN Arts. of Org. filed with Secy. of State Services LLC. Arts. of Org. filed with GLOBAL LLC Arts of Org filed with of NY (SSNY) on 08/29/14. Office NY Dept. of State on 10/17/14. Office Notice of Qualification of Echo Notice of Formation of CALIGOR Secy of State of NY (SSNY) 7/22/14. location: NY County. Princ. office of location: NY County. Princ. bus. addr.: Capital Group, LLC. Authority filed PHARMACY, LLC. Arts. of Org. filed Office location: NY County. SSNY LLC: c/o Argo Real Estate, 50 W. 17th 176 7th Ave. #1B, NY, NY 10011. Sec. with the Secretary of State of New York with Secy. of State of NY (SSNY) on designated agent upon whom St., NY, NY 10011. SSNY designated of State designated agent of LLC (SSNY) on 10/8/14. Office location: New 10/23/14. Office location: NY County. process may be served and shall as agent of LLC upon whom process upon whom process against it may York County. LLC formed in Delaware SSNY designated as agent of LLC mail copy of process against LLC to: against it may be served. SSNY shall be served and shall mail process to: on 1/31/14. SSNY designated agent upon whom process against it may be c/o Sabin, Bermant & Gould LLP, 4 mail process to the LLC at the addr. of c/o CT Corporation System, 111 8th upon whom process may be served served. SSNY shall mail process to Times Square, NY NY 10036 Attn: its princ. office. Purpose: Any lawful Ave., NY, NY 10011, regd. agent and shall mail copy of process Corporation Service Co., 80 State St., Managing Partner. Principal business activity. upon whom process may be served. against LLC to: C/O CT Corporation Albany, NY 12207, regd. agent upon address: 655 Park Ave, NY NY Purpose: all lawful purposes. System, 111 8th Avenue, New York, whom and at which process may be 10065. Purpose: any lawful act. Notice of Formation of 239 HENRY NY 10011. Purpose: any lawful act. served. Purpose: Any lawful activity. PROPERTY LLC. Arts. of Org. filed Notice of Formation of NYCHA Notice of Qualification of DFB with Secy. of State of NY (SSNY) on Triborough Preservation LLC. Arts. of Notice of Formation of GPF NA, LLC. PISTOL HAUTE JEWELS, LLC, a Insurance Group LLC. Filed on 11/14/14. Office location: NY County. Org. filed with NY Dept. of State on Arts. of Org. filed with Secy. of State domestic LLC, filed with the SSNY 10/1/2014 with the Secretary of Stae Princ. office of LLC: Chaves Family 11/12/14. Office location: NY County. of NY (SSNY) on 10/1/14. Office on 7/21/14. Office location: New York of New York. LLC formed in TX on Holdings, LLP, 111 John St., Ste. 312, Sec. of State designated agent of location: NY County. SSNY designated County. SSNY is designated as agent 2/18/14. Address of LLC: 117 E NY, NY 10038. SSNY designated as LLC upon whom process against it as agent of LLC upon whom process upon whom process against the LLC Kingsmill, Pampa, TX 79065. SSNY agent of LLC upon whom process may be served and shall mail process against it may be served. SSNY shall may be served. SSNY shall mail has been designated as an agent against it may be served. SSNY shall to: c/o New York City Housing mail process to: c/o Cooley LLP, 1114 process to c/o United States upon whom process against it may be mail process to Corporation Service Authority, 250 Broadway, 9th Fl., NY, NY Avenue of the Americas, 46th Fl., NY, Corporation Agents, Inc., 7014 13th served. Certificate of LLC filed with Co., 80 State St., Albany, NY 12207- 10007, principal business address. NY 10036, Attn: Shira Nadich Levin, Ave., Ste. 202, Brooklyn, NY 11228. Secretay of State of TX located at PO 2543. Purpose: Any lawful activity. Purpose: all lawful purposes. Esq. Purpose: any lawful activity. General Purposes. Box 12887, Austin, TX 78711-2887 Notice of Qualification of 33-39 East Notice of Qualification of 1901 Partners Notice of Qualification of ZIFF CAPITAL Notice of Qualification of SILVERSTEIN Notice of Qualification of DIGITAL 60th LLC. Authority filed with NY Dept. Management GP, LLC. Authority filed PARTNERS, LLC. Authority filed with MB PROPERTY OWNER LLC. BRAND EXPRESSIONS, L.L.C. of State on 8/21/14. Office location: with NY Dept. of State on 11/3/14. Secy. of State of NY (SSNY) on Authority filed with Secy. of State of NY Authority filed with Secy. of State of NY NY County. LLC formed in DE on Office location: NY County. LLC 11/07/14. Office location: NY County. (SSNY) on 11/13/14. Office location: (SSNY) on 10/21/14. Office location: 8/18/14. NY Sec. of State designated formed in DE on 6/30/14. NY Sec. of LLC formed in Delaware (DE) on NY County. LLC formed in Delaware NY County. LLC formed in New agent of LLC upon whom process State designated agent of LLC upon 11/05/14. SSNY designated as agent (DE) on 11/10/14. SSNY designated Jersey (NJ) on 12/20/01. Princ. office against it may be served and shall mail whom process against it may be of LLC upon whom process against as agent of LLC upon whom process of LLC and NJ addr. is: 101 Morgan process to: c/o Solil Management, served and shall mail process to the it may be served. SSNY shall mail against it may be served. SSNY shall Ln., Ste. 203B, Plainsboro, NJ 08536. 640 5th Ave., 3rd Fl., NY, NY 10019, principal business addr.: 350 Park Ave., process to c/o Corporation Service mail process to c/o Corporation SSNY designated as agent of LLC principal business address. DE 13th Fl., NY, NY 10022, Attn: Neil Co. (CSC), 80 State St., Albany, NY Service Co. (CSC), 80 State St., Albany, upon whom process against it may address of LLC: c/o National Wallack. DE addr. of LLC: c/o National 12207-2543. DE addr. of LLC: CSC, NY 12207-2543. DE addr. of LLC: c/o be served. SSNY shall mail process Corporate Research, Ltd., 615 S. Corporate Research, Ltd., 615 S. 2711 Centerville Rd., Ste. 400, CSC, 2711 Centerville Rd., Ste. 400, to the LLC at the princ. office of the DuPont Hwy., Dover, DE 19901. Cert. DuPont Hwy., Dover, DE 19901. Cert. Wilmington, DE 19808. Arts. of Org. Wilmington, DE 19808. Arts. of Org. LLC. Arts. of Org. filed with State of Form. filed with DE Sec. of State, of Form. filed with DE Sec. of State, filed with DE Secy. of State, Div. of filed with Secy. of State of DE., Div. Treasurer, 33 W. State St., Fifth Fl., Townsend Bldg., Dover, DE 19903. 401 Federal St., Dover, DE 19901. Corps., 401 Federal St., Dover, DE of Corps., P.O. Box 898, Dover, DE Trenton, NJ 08646. Purpose: Any Purpose: any lawful activity. Purpose: any lawful activity. 19901. Purpose: Any lawful activity. 19903. Purpose: Any lawful activity. lawful activity.

December 1, 2014 | Crain’s New York Business | 33 P033-34CL_CN_20141201.qxp 11/26/2014 1:31 PM Page 34

E TO PLACE A CLASSIFIED AD, CALL 1-800-444-6007 OR VISIT CRAINSNEWYORK.COM PUBLIC & LEGAL NOTICES Notice of Qualification of Albaugh, LLC. Notice of Formation of Grid Urban Notice of Qualification of Capital Notice of Formation of Limited Notice of Qualification of KF 125th Authority filed with NY Dept. of State Ventures II, LLC. Arts. of Org. filed with Group Alternative Strategies Feeder Liability Company (LLC). Name: ART St., LLC. Authority filed with NY Dept. on 9/22/2014. Office location: NY Secy. of State of NY (SSNY) on Fund, LP. Authority filed with NY Dept. ON AVENUE A LLC. Articles of of State on 10/30/14. Office location: County. LLC formed in IA on 12/4/1991. 09/01/00. Office location: NY County. of State on 10/30/13. Office location: Organization filed by the Department NY County. Princ. bus. addr.: 999 NY Sec. of State designated agent SSNY designated as agent of LLC upon NY County. LP formed in DE on of State of New York on: 06/09/2014. Waterside Dr., Ste. 2300, Norfolk, VA of LLC upon whom process against whom process against it may be served. 4/23/13. NY Sec. of State designated Office location: County of New York. 23510. LLC formed in DE on 10/17/14. it may be served and shall mail SSNY shall mail process to: Grid agent of LP upon whom process Purpose: any and all lawful activities. NY Sec. of State designated agent of process to: CT Corporation System, Properties, Inc., 599 Lexington Ave., against it may be served and shall mail Secretary of State of New York (SSNY) LLC upon whom process against it 111 8th Ave., NY, NY 10011. IA and NY, NY 10022, Attn: Drew Greenwald. process to the principal business designated as agent of LLC upon whom may be served and shall mail process principal business address: 1525 NE Purpose: any lawful activities. addr.: c/o Blackstone Alternative process against it may be served. to: c/o CT Corporation System, 111 36th St., Ankeny, IA 50021. Cert. of Asset Management L.P., 345 Park SSNY shall mail a copy of process to: 8th Ave., NY, NY 10011, regd. agent Org. filed with IA Sec. of State, 321 JW PROPERTIES & DESIGN LLC, Ave., NY, NY 10154. DE addr. of LP: c/o Wendy E. Scripps Trust, Richard upon whom process may be served. E. 12th St., Des Moines, IA 50319. Arts. of Org. filed with the SSNY on National Corporate Research, Ltd., E. Feldman, Trustee, 7 Penn Plaza, DE addr. of LLC: The Corporation Trust Purpose: all lawful purposes. 11/12/2014. Office loc: NY County. 615 S. DuPont Hwy., Dover, DE 19901. Suite 900, New York, NY 10001. Co., 1209 Orange St., Wilmington, DE SSNY has been designated as agent Name/addr. of genl. ptr. available 19801. Cert. of Form. filed with DE Notice of Formation of Greenberg & upon whom process against the LLC from NY Sec. of State. Cert. of LP GREER NUTTALL LLC, Arts. of Org. Sec. of State, PO Box 898, Dover, DE Kaplan, LLP. Arts of Org filed with may be served. SSNY shall mail filed with DE Sec. of State, 401 filed with the SSNY on 10/27/2014. 19903. Purpose: all lawful purposes. the Secy of State of NY (SSNY) process to: Joy Wayne, 325 E. 57th Federal St., Dover, DE 19901. Office loc: NY County. SSNY has 7/23/14. Office location: New York St., Apt. 6B, NY, NY 10022. Purpose: Purpose: any lawful activity. been designated as agent upon 1115 COLLEGE AVE. LLC, a domestic County. SSNY designated agent Any Lawful Purpose. whom process against the LLC may LLC, filed with the SSNY on 11/13/14. upon whom process may be served 78 REALTY NY LLC, Arts of Org filed be served. SSNY shall mail process Office location: New York County. and shall mail copy of process Notice of Formation of Tiger Retail with SSNY on 09/29/14. Off Loc: New to: 169 E 69th St., Apt. 2A, NY, NY SSNY is designated as agent upon against LLP to principal business East Coast, LLC. Arts. of Org. filed York County, SSNY designated as 10021. Purpose: Any Lawful Purpose whom process against the LLC may with NY Dept. of State on 10/10/14. address: 380 Lexington Avenue, 17th agent of LLC upon whom process NY 469 LLC, a domestic LLC, filed be served. SSNY shall mail process to floor, New York, New York 10168-1700. Office location: NY County. Sec. of against it may be served. SSNY shall Mandell Mandell LLP, 8002 Kew State designated agent of LLC upon with the SSNY on 9/18/14. Office Purpose: any lawful act. mail a copy of process to: The LLC, location: New York County. SSNY is Gardens Rd., Ste. 606, Kew Gardens, whom process against it may be 341 E. 78th St., New York, NY 10075. NY 11415-3606. General Purposes. NES DEVELOPMENT LLC, Arts. of Org. served and shall mail process to: CT designated as agent upon whom Purpose: to engage in any lawful act. process against the LLC may be filed with the SSNY on 11/06/2014. Corporation System, 111 8th Ave., NY, NEIGHBORHOOD PRACTICE MANAGE- served. SSNY shall mail process to Office loc: NY County. SSNY has NY 10011. Purpose: all lawful purposes. Notice of Qualification of Century Golf MENT ASSOCIATES LLC, a domestic been designated as agent upon Management, LLC. Authority filed The LLC, 38 W. 34th St., 3rd Fl., NY, Notice of Qualification of 345 Park LLC, filed with the SSNY on 9/30/14. whom process against the LLC may with NY Dept. of State on 10/10/14. NY 10001. General Purposes. LLC. Authority filed with NY Dept. of Office location: New York County. be served. SSNY shall mail process Office location: NY County. Princ. State on 10/30/14. Office location: NY RUBBLE KINGS, LLC, Arts. of Org. SSNY is designated as agent upon to: 20 W. 33rd St., 6th Flr., NY, NY bus. addr.: 3 Lincoln Centre, 5430 County. Princ. bus. addr.: 345 Park filed with the SSNY on 01/25/2013. whom process against the LLC may 10001. Reg. Agent: Larry Katz, 20 W. LBJ Fwy., Ste. 1400, Dallas, TX Ave., NY, NY 10154. LLC formed in Office loc: NY County. SSNY has be served. SSNY shall mail process to 33rd St., 6th Flr., NY, NY 10001 75240. LLC formed in DE on 6/24/14. DE on 11/13/13. NY Sec. of State been designated as agent upon whom The LLC, 39 W. 14th St., Ste. 506, NY, Purpose: Any Lawful Purpose. NY Sec. of State designated agent of designated agent of LLC upon whom process against the LLC may be NY 10011. General Purposes. LLC upon whom process against it process against it may be served served. SSNY shall mail process to: Notice of Formation of NIKI LIFESTYLE, may be served and shall mail Notice of Formation of Green Pear and shall mail process to: c/o CT 609 Greenwich St. 8th Fl, NY, NY LLC. Arts. of Org. filed with Secy. of process to: c/o CT Corporation Properties LLC. Arts. of Org. filed Corporation System, 111 8th Ave., NY, 10014. Purpose: Any Lawful Purpose. State of NY (SSNY) on 11/04/14. System, 111 8th Ave., NY, NY 10011, with Secy. of State of NY (SSNY) on NY 10011, regd. agent upon whom Office location: NY County. SSNY regd. agent upon whom process may 234 Troy Avenue LLC. Arts. of Org. 8/21/14. Office location: NY County. process may be served. DE addr. of designated as agent of LLC upon be served. DE addr. of LLC: c/o The filed with Secy. of State of NY (SSNY) SSNY designated as agent of LLC LLC: 1209 Orange St., Wilmington, DE whom process against it may be Corporation Trust Co., 1209 Orange on 09/12/14. Off. loc.: New York Co. upon whom process against it may 19801. Cert. of Form. filed with DE served. SSNY shall mail process to St., Wilmington, DE 19801. Cert. of SSNY designated as agent of LLC be served. SSNY shall mail process Sec. of State, 401 Federal St., Dover, DE Corporation Service Co., 80 State St., Form. filed with DE Sec. of State, upon whom process may be served. to: 437 5th Ave., Ste. 801, NY, NY 19901. Purpose: all lawful purposes. Albany, NY 12207, regd. agent upon 401 Federal St., Dover, DE 19901. SSNY shall mail process to 10 W 47th 10016. Purpose: any lawful activity. whom and at which process may be Notice of formation of Carol Farah Purpose: all lawful purposes. St., Ste. 501, New York, NY 10036. served. Purpose: Any lawful activity. NYC Studio, LLC Arts. of Org. filed Purpose: General. 28 REALTY NY LLC, Arts of Org filed with the Sect'y of State of NY (SSNY) Notice of Qualification of IHP with SSNY on 09/29/14. Off Loc: New Notice of Qualification of King RLNYC Group, LLC. Arts. of Org. filed on 9/25/2014. Office location, County POUGHKEEPSIE (NY) OWNER, LLC. York County, SSNY designated as Commercial Finance LLC. Authority with Secy. of State of NY (SSNY) on of New York. SSNY has been Authority filed with Secy. of State of NY agent of LLC upon whom process filed with NY Dept. of State on 09/18/14. Off. loc.: NY Co. SSNY des. designated as agent of the LLC (SSNY) on 10/09/14. Office location: against it may be served. SSNY shall 10/14/14. Name amended to as agent of LLC upon whom process upon whom process against it may NY County. LLC formed in Delaware mail a copy of process to: The LLC, Commercial Industrial Finance, LLC. may be served. SSNY shall mail pro- be served. SSNY shall mail process (DE) on 07/14/14. SSNY designated 52 East End Ave., #28A, New York, Office location: NY County. LLC cess to c/o Audrey Heffernan Meyer, to: 250 W. 90th St., #3H, NY, NY as agent of LLC upon whom process NY 10028. Purpose: to engage in formed in MO on 10/25/06. NY Sec. 1 Lexington Ave., Apt. 11A, New 10024. Purpose: any lawful act. against it may be served. SSNY shall any lawful act. of State designated agent of LLC upon mail process to c/o Corporation York, NY 10010. Purpose: General. whom process against it may be Service Co. (CSC), 80 State St., JONATHAN CLEMENTS LLC, Arts. of COROSSOL FIKA TOWER LLC, Arts. ASHAP REALTY LLC. Art. of Org. filed served and shall mail process to: CT Albany, NY 12207-2543. DE addr. of Org. filed with the SSNY on of Org. filed with the SSNY on with the SSNY on 09/03/14. Office: New Corporation System, 111 8th Ave., NY, LLC: c/o CSC, 2711 Centerville Rd., 10/03/2014. Office loc: NY County. 09/02/2014. Office loc: NY County. York County. SSNY designated as NY 10011. MO and principal business Ste. 400, Wilmington, DE 19808. Arts. SSNY has been designated as agent SSNY has been designated as agent agent of the LLC upon whom process addr.: 10024 Office Center Ave., Ste. of Org. filed with Secy. of State, Div. upon whom process against the LLC upon whom process against the LLC against it may be served. SSNY shall 150, St. Louis, MO 63128. Cert. of of Corps., John G. Townsend Bldg., may be served. SSNY shall mail may be served. SSNY shall mail mail copy of process to the LLC, 152 Org. filed with MO Sec. of State, 600 401 Federal St. - Ste. 4, Dover, DE process to: Jonathan Clements, 380 process to: Lars Akerlund , 66 Pearl E. 65th Street, New York, NY 10065. W. Main St., Jefferson City, MO 19901. Purpose: Any lawful activity. Lenox Ave Apt 6G, NY, NY 10027. St., NY, NY 10004. Reg. Agent: Lars Purpose: Any lawful purpose. 65101. Purpose: all lawful purposes. Akerlund , 66 Pearl St., NY, NY 10004. Purpose: Any Lawful Purpose. Purpose: Any Lawful Purpose. Notice of Qualification of GLL BVK PERSONAL PODIATRY NY PLLC, a Notice of Qualification of CityBridge, Properties 2014, L.P. Authority filed Notice of Qualification of BRYANT LLC. Authority filed with Secy. of State Prof. LLC, Arts. of Org. filed with the Notice of Qualification of STURM with NY Dept. of State on 7/16/14. SSNY on 11/12/2014. Office location: PARK FINANCE MANAGER, LLC. of NY (SSNY) on 10/16/14. Office FAMILY OFFICE LLC. Authority filed Office location: NY County. Princ. Authority filed with Secy. of State of NY location: NY County. LLC formed in NY County. SSNY has been desig- with Secy. of State of NY (SSNY) on bus. addr.: 199 Fremont St., Ste. nated as agent upon whom process (SSNY) on 10/30/14. Office location: Delaware (DE) on 07/14/14. SSNY 11/12/14. Office location: NY County. 1150, San Francisco, CA 94105. LP NY County. LLC formed in Delaware designated as agent of LLC upon against it may be served. SSNY shall LLC formed in Delaware (DE) on formed in DE on 4/15/14. NY Sec. of mail process to: 20 East 46th St, NY, (DE) on 10/17/14. Princ. office of LLC: whom process against it may be 04/17/14. SSNY designated as agent State designated agent of LP upon One Bryant Park, 38th Fl., NY, NY served. SSNY shall mail process to NY 10017. Purpose: To Practice The of LLC upon whom process against whom process against it may be Profession Of Podiatry. 10036. SSNY designated as agent of c/o Corporation Service Co., 80 it may be served. SSNY shall mail served and shall mail process to: c/o LLC upon whom process against it State St., Albany, NY 12207-2543. process to c/o Corporation Service CT Corporation System, 111 8th SOUTH SALEM OWNERS LLC. Art. may be served. SSNY shall mail DE addr. of LLC: 2711 Centerville Co., 80 State St., Albany, NY 12207- Ave., NY, NY 10011, regd. agent of Org. filed with the SSNY on process to the LLC at the princ. office Rd., Ste. 400, Wilmington, DE 19808. 2543. DE addr. of LLC: 2711 upon whom process may be served. 10/02/14. Office: New York County. of the LLC. DE addr. of LLC: The Arts. of Org. filed with DE Secy. of Centerville Rd., Ste. 400, Wilmington, DE addr. of LP: 1209 Orange St., SSNY designated as agent of the Corporation Trust Co., Corp. Trust State, The John G. Townsend Bldg., DE 19808. Arts. of Org. filed with The Wilmington, DE 19801. Name/addr. LLC upon whom process against it Center, 1209 Orange St., Wilmington, 401 Federal St., Ste. 4, Dover, DE DE Secy. of State, Div. of Corps., of genl. ptr. available from NY Sec. of may be served. SSNY shall mail DE 19801. Arts. of Org. filed with DE 19901. Purpose: Any lawful activity. John G. Townsend Bldg., 401 State. Cert. of LP filed with DE Sec. copy of process to the LLC, 62 West Secy. of State, John G. Townsend Notice of Qualification of MILLSTEIN Federal St., Ste. 4, Dover, DE 19901. of State, 401 Federal St., Dover, DE 45th Street, 8th Flr, New York, NY Bldg., 401 Federal St., Ste. 4, Dover, DE REAL ESTATE CO. LLC. Authority Purpose: Any lawful activity. 19901. Purpose: all lawful purposes. 10036. Purpose: Any lawful purpose. 19901. Purpose: Asset management. filed with Secy. of State of NY (SSNY) on 10/31/14. Office location: NY County. LLC formed in Delaware (DE) on 11/15/13. Princ. office of LLC: 1717 Pennsylvania Ave. NW, Ste. WANT TO GET YOUR COMPANY IN FRONT OF 333, Washington, DC 20006. SSNY designated as agent of LLC upon NEW YORK CITY’S INFLUENTIAL whom process against it may be served. SSNY shall mail process to the LLC, Attn: General Counsel, 40 BUSINESS PROFESSIONALS? E. 52nd St., 20th Fl., NY, NY 10022. DE addr. of LLC: 2711 Centerville Rd., Ste. 400, Wilmington, DE 19808. Contact Joanne Barbieri at 212-210-0189 Arts. of Org. filed with DE Secy. of State, Div. of Corps., 401 Federal St., for classified advertising opportunities. Ste. 4, Dover, DE 19901. Purpose: Any lawful activity.

34 | Crain’s New York Business | December 1, 2014 20141201-NEWS--0035-NAT-CCI-CN_-- 11/26/2014 11:54 AM Page 1

Builders bet big on penthouses HARDLY FIVE AND DIME STUFF: Kenneth Horn priced his Continued from Page 3 of the recession.“You still have to do tower comes with platinum-plated Woolworth Building’s five-story lence and, of course, cost. Among rational projects.” features, including a swooping penthouse at $110 million. those are five penthouses—and The 44-unit condo nearing com- $300,000 staircase linking the floors counting—whose owners, like Mr. pletion at 551 W. 21st St., near the and a huge outdoor terrace that af- Shaoul, seek to crack the elusive High Line,is a prime example of the fords close-up views of the sur- nine-figure mark,and in the process sort of riches many developers hope rounding midtown landscape, in- blow away the current city record of to reap atop their properties. cluding Rockefeller Center. $88 million paid for an apartment. There, owner Scott Resnick has Meanwhile, developer Kenneth What concerns some observers is already sold 60% of the building’s Horn is transforming the upper- that those building-top units and units for prices he said average most 30 floors of downtown’s Wool- their ionospheric prices are becom- around $3,000 per square foot, worth Building into luxury condos, ing the pivotal factors in the success among the highest ever achieved in culminating in a five-story pent- or failure of more and more ambi- the neighborhood.That,he noted,is house within the landmarked tow- tious residential projects. It also enough to have already paid for the er’s Gothic crown that he has priced comes at a time when developers are cost of the development. at $110 million. scrambling to find ways to recoup But upstairs, Mr. Resnick is The goal of creating a unit worth the record prices many have paid for holding out for far greater—more far more than the sum of its parts is their sites and the skyrocketing con- than double that per-square-foot the name of the game in the world

struction costs they must shoulder. figure—at a trio of penthouses he of penthouse sales. It is one where buck ennis But as sales have recently slowed billionaires have been known to pay at a pair of bellwethers of the ultra- outrageous prices for apartments said Michael Stern, a developer of costs have spiked as much as 25% in luxury market—the 1,000-foot-plus ‘There’s much that capture their fancy, as was the several ultraluxury projects includ- the past few months amid a new spires at 157 W. 57th St. and, four case with the city’s current record ing Walker Tower in Chelsea and citywide building boom. blocks away, at 432 Park Ave.— more emphasis holder, Russian fertilizer mogul the 1,400-foot condo spire he’s rais- “There is much more emphasis questions have swirled over just how Dmitry Rybolovlev,who shelled out ing over the old Steinway piano now at the top of the building,” said many buyers can afford those prices. now at the top $88 million for the home of erst- showroom on West 57th Street.“It’s Jonathan Miller, CEO of appraisal Others wonder whether developers while Citicorp Chief Executive about other things, like how exclu- firm Miller Samuel. “Developers are staking too much on the sale of of the building’ Sanford Weill at 15 Central Park sive and unique an apartment is.” want to get as much as they can for too few apartments. West in 2012. Some market observers fret that top-floor units,but they also have to The peril of doing so was demon- In the case of the Baccarat, the builders have become too optimistic because that’s often where their strated last month, when a develop- owner is seeking $60 million for the in their assumptions about the project is financially proven viable.” er slashed the price of a triplex pent- single penthouse unit. That works prices their top-floor apartments house in the Village that had been on aims to sell for $125 million in total. out to a premium of 37% over the can achieve and that failure to meet They’re still selling the market for more than a year to In all, that would amount to three per-square-foot price of the units those targets could result in much Many developers call such con- $39.2 million—$10.2 million off the units accounting for nearly a third of one story down, which are all sepa- slimmer profits or even losses. cerns overblown, even as sky-high original price.Meanwhile,a possible the entire project’s sales. rate apartments. Asked to explain Smaller projects could feel the prices land a little closer to earth. push by the de Blasio administration “It’s a big chunk of revenue,” Mr. how that premium was calculated, biggest hit. At 7 Harrison, a 12-unit Mr. Stern closed last month on for a higher so-called mansion tax Resnick said. “But ultimately these Larry Kruysman,an in-house broker condo conversion in TriBeCa, for the sale of a penthouse at Walker could further dull the luster of such are unique and incredibly rare apart- marketing the project, simply noted example, the building’s two pent- Tower on West 18th Street that had properties. ments, and I won’t part with them that the asking price had been tabu- houses, which are priced at $34 mil- been on the market for a year. It sold until I get the right price.” lated using “proprietary algorithms.” lion and $25 million, constitute for $40.7 million in cash, almost $7 Don’t count on it To get that must-have price, And why not? For the super-rich about half the proceeds of the entire million below its asking price. “It’s a dangerous road to go many of his industry peers are laying buyers in the market, many real es- development. At this point, those “No one knows how deep the down, to rely on huge penthouse out ever higher sums to make their tate professionals point out, money two units are the only apartments buyer pool is, but if it’s worthy there sales,” said Gary Barnett, the devel- offerings stand out. is frequently far from the deciding that have yet to find buyers. will be a buyer for it,”Mr.Stern said. oper of One57, who is credited with At the Baccarat Hotel & Resi- factor. But the stakes have grown for all Meanwhile, he’s confident about starting the ultraluxury building dences across West 53rd Street from “When you get to a certain level, as land values have soared to a record his West 57th Street prospects. boom in the city with that tower— the Museum of Modern Art, the the buyer pool is not worried any- $1,200 per square foot for choice de- “We have something that is on land that he bought at the depth duplex penthouse atop the 49-story more about price per square foot,” velopment sites and as construction unique,” Mr. Stern said. Ⅲ

OVER THE LINE tion in Washington, D.C., that ap- and Goldman suggest to Mr. Ep- Concern over banks proach to regulation looks “broadly stein and Ms. D’Arista that banks Six of the 11 global banks where appropriate.” Many others agree. haven’t done much to reduce their more than 10% of total assets consist But some observers worry that systemic risk, and regulators haven’t Continued from Page 4 posures to other banks in excess of of credit extended to other banks even these measures could come up done enough to encourage them to. turn forced even more sales to gen- 10% of their assets—a threshold be- Morgan Stanley short. “It’s not enough,” asserted (Neither Morgan Stanley,Gold- erate sufficient cash. yond which, critics say, regulators Mr. Epstein, who with his former man nor the regulatory body estab- 64%* Looking at the reports submit- should be worried. Among them is University of Massachusetts col- lished by Dodd-Frank known as the ted to the Federal Reserve at the end Goldman Sachs, whose exposure to Goldman Sachs league Jane D’Arista has also writ- Financial Stability Oversight of last year by the 33 U.S. and for- other banks is close to 40%. A 37% ten a paper on the regulation of sys- Council responded to requests for eign institutions considered under spokesman for Goldman said the temic risk. further comment on these matters.) Dodd-Frank to be too big to fail,in- analysis was not an accurate indica- Citigroup The Imperial College’s Mr. Exacerbating the problem is that terconnectedness remains a real tion of banks’ interconnectedness. 22% Allen went even further on Dodd- regulators often work with out-of- threat, according to research by Frank’s provisions. “I would be very date information on what’s in finan- Loads of fresh capital Bank of New York Mellon University of Massachusetts eco- 21% surprised if they’re very effective at cial firms’ vaults, according to Co- nomics professor Gerald Epstein Dodd-Frank attempts to miti- all,” he said. As for banks’ big capi- Pierre Georg, an economics lecturer and colleagues Juan Montecino and gate these risks via the so-called JPMorgan Chase tal buffers, he predicted,“They’ll be at the University of Cape Town, Nikhil Rao. Volcker Rule. It requires banks to 17% dwarfed by the movements in asset South Africa.“It helps tremendous- Their reports show, for example, get out of the business of owning prices that you’re likely to get.” ly to have daily information,” Mr. that Morgan Stanley has the biggest hedge funds, or of lending them Bank of America Georg said, noting that most bank bank exposure,with 64% of its assets huge amounts of capital via an activ- 14% The October surprise regulators depend on quarterly data.

tied up in loans and other forms of ity known as prime brokerage.That *A new report the bank is filing with the Fed shows A possible harbinger came earli- “You miss what happens in be- credit to other banks. may yet prove effective in reducing that its exposure is 34%. Source: Federal Reserve er this fall. On Oct. 15, seized by tween.” A spokesman for Morgan Stan- counterparty risk going forward. fears of weakness in China and Eu- Mr. Georg has helped the Cen- ley said the numbers it filed in its re- In addition, Dodd-Frank’s pro- for issuers than debt. rope, as well as the growing threat tral Bank of Uganda get daily infor- port were incorrect and that the cor- visions regarding derivatives may Dodd-Frank also requires regu- posed by Ebola, institutions loaded mation on its banks. As a result, he rect ones would indicate that its also help reduce such risk by requir- lators to take into account banks’use up on super-safe U.S. Treasuries, said, that nation’s financial system is exposure is 34%. The spokesman ing banks to post collateral to back of repurchase agreements and deriv- triggering the second-biggest de- arguably now safer than that of the also said the analysis was misleading their positions and forcing them to atives when calculating how much cline in the yield of those securities U.S. and the rest of the developed as the bank doesn’t measure most of trade or clear more contracts on ex- debt they have on their books. The in 50 years, according to Bloomberg world. And, he said, that’s true of the assets in question on its balance changes backed by capital. Federal Reserve is planning to im- data. Most of that slide happened in several other banking systems in the sheet in the same way they are re- Beyond that,of course,big banks pose a capital surcharge on banks a span of 10 minutes. less-developed countries. ported to the Fed. have raised huge amounts of fresh that depend on credit they extend to While it’s still the early days for “Many emerging markets have Ten other so-called global, sys- capital in the past few years,much of each other.For Douglas Elliott,a re- some of Dodd-Frank’s provisions, much better regulation,” Mr. Georg temically important banks have exit equity, which is considered safer searcher at the Brookings Institu- the exposures of Morgan Stanley asserted. Ⅲ

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entry-level work, aside from the wages, is that it often doesn’t provide Study:City’s less-well-off fall further behind advancement opportunities. “We need corporate America to step up,” said Sheena Wright, president and pace with the surging cost of living Merble Reagon, executive director tended consequences, some ob- chief executive of United Way of Some 40% of NYC is a significant reason those house- of the center, which is dedicated servers warn. Raising the minimum New York City,which provided sup- households can’t holds, which comprise 2.7 million to improving women’s financial wage dramatically could draw more port for the study along with the New people, are struggling to make ends conditions. people into the workforce, creating York Community Trust and City cover basic needs, meet. more job competition for the work- Harvest. “They have to spend mon- despite employment The income necessary to cover Minimum-wage floor ing poor, according to Nicole Geli- ey on training and opportunities.” the basic needs of a household with Income inadequacy is particular- nas, a senior fellow at the Manhat- two adults and two children jumped ly challenging for some subsets of tan Institute for Policy Research, a Education improvements needed BY THERESA AGOVINO an average of 45% in the past 14 the population, including Latinos, conservative think tank. Ms. Wright also said that public years while median income rose just single mothers and noncitizens. “If [the minimum wage] gets up schools need vast improvement so Some 940,000 households in New 17%, according to the study by the The study determined that rais- to near $25, wealthy high-school their graduates are ready for em- York—more than 40% of the city’s Women’s Center for Education and ing the minimum wage beyond $8 kids and stay-at-home moms have ployment or college. The study total—lack the income to cover ba- Career Advancement. an hour would help, though it noted an incentive to work,” she said. showed that income-inadequacy sic necessities such as food, rent and Every major expense has surged that workers who were not self- Ms. Gelinas pointed out that rates decreased dramatically when child care even though a majority of since 2000, with food prices rising sufficient earned an average of people keep moving to the city even the level of education rose. those have at least one member with an average of 59% citywide. Hous- $10.50. The study recommended a though there are much less expen- Data for the study were culled a job, according to a study to be re- ing costs also increased by the same floor of $13.30 an hour. A single sive places to live. from numerous sources including leased this week. figure, except in Brooklyn, where adult in the Bronx could get by on “You have a much better chance the state Department of Labor, the The failure of incomes to keep they soared 71%. that, but an adult with a preschool- of moving up here,” she said. “We U.S. Census Bureau and the U.S. “We can’t continue to have this er would need to earn at least $25 an have a lot more entry-level jobs here Department of Agriculture’s LISTEN to a discussion at many people living here who can’t hour to be self-sufficient. than in other places.” Center for Nutrition Policy and CrainsNewYork.com/podcasts take care of their basic needs,” said Higher wages could have unin- Others say the problem with Promotion. Ⅲ

shares traded at more than twice the term performance. Before the crisis, crumble to below $6 a share by late Wall Street bonuses price paid by Goldman employees. deferred compensation typically ac- 2012, before its steady march the “The crisis-era stock awards have counted for 25% of pay for Wall past two years to $17. turned into gold,” Mr. Johnson said. Street’s most highly compensated In 2011, Citigroup granted em- Continued from Page 1 each in early 2012, when the stock The wave of bonus payouts from people. Today, it’s about 75%. ployees $1.6 billion worth of shares a challenging 2009, Goldman cut traded at close to a postcrisis low. prior years now hitting shore is so valued at $49.59 each. The grant average employee pay by 13%,but to BofA’s stock now fetches $17 a strong that it could lift income-tax No more grumbling didn’t look so good when Citi’s stock dull the pain, granted staffers $3.6 share,meaning staffers could collec- receipts from Wall Street this year, Even less richly rewarded mid- price sank by half later that year, but billion worth of shares that couldn’t tively pocket $1.8 billion in gains even though bank profits are expect- level bankers saw more of their now the shares are valued at about be sold until this coming January, when people can begin selling the ed to be flat or slightly lower,accord- bonuses deferred and paid in shares. $1.8 billion because Citi’s stock according to a regulatory filing.The shares at the start of next year. ing to an October report from the That change caused much grumbling trades for $54. stock is currently valued at $5.1 bil- Likewise, Morgan Stanley New York state comptroller’s office. among the rank and file, who often Citi’s rise from its postcrisis low lion because Goldman’s share price granted employees about $1 billion The state collected 19% of all its tax had to stay with their employer in or- mirrors the rest of the banking sec- has risen more than 40%, to a recent worth of stock in early 2012 at the revenue, or $13.2 billion, from Wall der for the stock to fully vest three or tor, where stocks have been on a tear $190, and now makes for one hell of depressed price of $18.09 a share. Street-related activity last year, and even five years down the road. since the start of 2012. Financial a stocking stuffer. The stock, which fully vests in Jan- the city collected 7%,or $3.2 billion. “These grants were seen as a stocks have rallied by 92% in that “You’re going to see a deluge of uary,has since doubled, and the val- Mr. Johnson said he expects that form of handcuffs,”said John Ricco, time, the most for any industry ex- bankers cashing out their restricted ue of the grant is now $2 billion. bonus pools for traders could drop a partner at the Atlantic Group, a cept for health care, and have risen stock grants in the weeks ahead,” by 10% this year but rise 15% for financial-services recruiter. 22 percentage points more than said Mark Williams, a lecturer at ‘Turned into gold’ bankers who specialize in taking The grumbling grew louder in Standard & Poor’s 500-stock index. Boston University and former Fed- Another Goldman payout from companies public or merging them. the years after the crisis as many of One reason for the rally is that in- eral Reserve Bank examiner.“These the dark days of late 2008 is looking Deferred pay has been common the grants sank underwater—that is vestors are pleased that banks have grants are deeply in the money.” mighty good. Back then, the firm currency on Wall Street for years. to say, were worth less than the managed to lower their biggest vari- The story at Goldman is much granted employees the right to buy 36 But it has grown dramatically since stock’s market price. able cost—salary—by spreading the same elsewhere. million shares at a price of $78.78 the financial crisis amid pressure For instance, in 2010 BofA bonus payouts over longer periods.Ⅲ Bank of America granted em- each on the condition they wouldn’t from shareholders and regulators to granted more than 200 million re- ployees $1.5 billion worth of re- sell the stock until January 2014. crack down on excessive risk-taking stricted shares at an average price of LISTEN to a discussion at stricted shares at a price of $7.78 When the restrictions faded away,the and better align pay with longer- $14.40, only to see its stock price CrainsNewYork.com/podcasts

Perka, a mobile customer-loyalty which of all the entities will shape First Data invests in innovation startup headquartered in SoHo that the future of mobile payments— can give retailers data analytics, and whether it’s existing payment- San Francisco-based mobile gift- ecosystem participants, technology Continued from Page 4 Apple Pay, has a global footprint of on winning business for its year-old card startup Gyft. Both have been companies or merchants,” cau- processing firm as a technology in- 6 million merchants—the largest in iPad-like payment system, Clover, a integrated into Clover as part of tioned Stephen Sohn, senior credit novator, a description that has the payment industry. Silicon Valley venture acquired be- transforming payment processing analyst at Moody’s. seemed better suited to its upstart “We won’t be the only ones” pro- fore Mr. Bisignano’s arrival.Target- into a wider business offering. And some analysts think First competitor, mobile-payment com- cessing Apple Pay transactions, said ing the small- and medium-size Data’s $21 billion debt puts too pany Square. The San Francisco- Guy Chiarello, First Data’s presi- business market, Clover is both a IPO to come? much weight on the company. based firm has 75 employees in New dent and a former JPMorgan chief First Data is also ready for other “Prospects are better, but they York, compared with First Data’s information officer who leads the mobile-payment options, such as need revenue growth to get debt 900-plus in the metro area. firm’s innovation strategy. “But we ‘Having our the one being developed by big re- down to a manageable level, and at “We need to be an enabler for the will be the dominant player.” tailers like Best Buy and 7-Eleven 3% [growth], I don’t know if that’s technology and finance and retail in- First Data had no choice but to principal exec under the Merchant Customer Ex- enough,” said Dave Novosel, senior dustries,” Mr. Bisignano said in his try to become a new kind of compa- change, as well as the industrywide investment analyst at corporate office overlooking New York Har- ny.Its traditional business,handling offices in New transition to chip-based credit cards bond research firm Gimme Credit. bor. “Having our principal executive some 45% of all U.S. credit- and next year. “How much will these new things offices in New York is critical to that.” debit-card transactions, is a difficult York is critical’ First Data’s improved results generate on top of that? That’s the one to grow, given merchants’ con- have sparked talk of an initial public key question.” High-profile win stant pressure on fees. offering down the road.For the nine At KKR, the feeling is that First The new team’s highest-profile The company had also been slow months ended Sept. 30, adjusted Data’s massive size makes those new win came in September, when First to innovate. Mr. Bisignano, though, revenue came to $5.6 billion, up 3% things close to a sure bet. Data announced that it would bring has had more leeway than his prede- from the same time a year earlier. “It’s good to be in the middle of Apple’s new mobile-payment sys- cessors to invest in innovation, hardware offering and a platform In the third quarter, only a debt- all these industry dialogues,” said tem, Apple Pay,to its network. First thanks to some cost-cutting and for merchant-related applications. settlement charge got in the way of Scott Nuttall, who heads KKR’s Data, which is providing the securi- debt restructuring—helped by A mobile version has recently been a profit, compared with a $220 mil- asset-management group and sits ty technology its clients need for KKR’s $3.5 billion infusion—as introduced. lion loss in the same period in 2013. on First Data’s board. “When you well as improved results. Since Mr. Bisignano came on- That’s not to say First Data is out have a 45% share, if we do our jobs, LISTEN to a discussion at In addition to incorporating Ap- board as chairman and chief execu- of the woods. “Our view is that the we should be leaders in determining CrainsNewYork.com/podcasts ple Pay, First Data has been focused tive in April 2013, he has bought next couple of years will determine how that space evolves.” Ⅲ

36 | Crain’s New York Business | December 1, 2014 20141201-NEWS--0037-NAT-CCI-CN_-- 11/25/2014 6:59 PM Page 1

HELLUVA TOWN INSIDE Source Lunch Up to date Securing NY’s transit

Can New York daters make the system PAGE 38 grade? Free iOS app the Grade Out and About debuted last week using an algorithm to assess its members’ Christmas with popularity (determined by their Aimee Mann PAGE 39 profile quality and how often they are “liked”) as well as how often they respond to messages and the quality of those messages. Those with a D or F are given instructions on how to improve their score. They are dumped if they fail to comply. “The goal is to create a community of high-quality daters,” said Cliff Lerner, CEO of Snap Interactive, the nine-year-old company behind the Grade, whose other offering is Are You Interested, an early Facebook dating app. Snap racked up $13.2 million in revenue in the past year. A unique feature of the Grade is the ability to go back and reconsider a user previously bypassed. Daters can also search by distance and age range. In its first week, the app attracted a few thousand users, and Mr. Lerner plans to expand it throughout the country soon. It has already received feedback from mostly female users who said they would pay to see just A-rated daters. WALK THIS WAY: —jessica kramer Steve Leber once managed groups like Aerosmith and AC/DC. Virtual giving Now he sells insurance to their aging fans With gala season in full swing, through his website. nonprofits want to generate as much money as possible from guests. Text-to-Pledge, a mobile platform for giving created by Manhattan-based Sophist,is trying to broaden that donor base to those who attend fundraisers virtually. In a pilot program launching Dec. 7, those watching a live stream of the Trevor Project Rock of ages gala’s red carpet in Los Angeles will be asked to donate to the organization, which helps prevent suicide among LGBT youth. Seven-year-old Text-to- Pledge’s main offering enables party attendees to text donations With Grandparents.com, former music mogul has followed and have the amounts broadcast on a screen at the event to create more boomers from their days of pot ... to pot bellies excitement. So far, charities have raised $37 million using the technology, according to Reed

Baker, Sophist’s founder and CEO. buck ennis “We are always looking for ways to give our product legs,” said BY AARON ELSTEIN GRAY & GOLD Mr. Baker.To that end,he is testing teve Leber once managed Aerosmith and AC/DC. He helped organize the 1971 Concert for Bangladesh at Madison Square Garden, which featured Bob Dylan, $1M Eric Clapton and George Harrison and raised money for UNICEF. ¶ “Dear Steve, AMOUNT STEVE LEBER Thank you for all your help. Hare Krishna, George Harrison,” reads a framed letter has invested in Grandparents.com on his office wall. ¶ Now, at 72, Mr. Leber is trying to sell something new to the people who once boogied at his concerts or bought his bands’ LPs: co-communications Grandparents.com. ¶ The fledgling Manhattan-based firm offers aging baby 109.4M a program that will help charities boomers advice and services, from romantic getaways to the do’s and don’ts of long- AC/DC’S CERTIFIED better target their fundraising global record sales appeals by providing them with term care insurance.To stoke interest in the site, Mr. Leber launched the American Grandparents demographic data about donors Association, a group that offers deals and discounts to members who pay $15 a year. ¶ “I’ve been who text. And Mr. Baker plans to sell advertising on the screens to Sbuilding fan clubs for artists my entire life, and this will be the ultimate fan club for grandparents,” give his customers another revenue said Mr. Leber, who wants his organization to cut into AARP’s membership of 37 million and stream. “We hope to have these ready for spring gala season,” he $1.2 billion in annual revenue. ¶ “We don’t really see Grandparents.com as a competitor,” an

said. —theresa agovino AARP spokeswoman said. ¶ Among the many popular See ROCK on Page 38 istockphoto

December 1, 2014 | Crain’s New York Business | 37 20141201-NEWS--0038,0039-NAT-CCI-CN_-- 11/25/2014 7:01 PM Page 1

SOURCE Rock of ages LUNCH: Interview by Andrew J. Hawkins RAYMOND DIAZ Continued from Page 37 pulls the person close so he can talk songs he’s been associated with, Mr. in a voice barely above a whisper. Leber said, a favorite is AC/DC’s He got started in the music busi- “Back in Black.”That seems only fit- ness in the early 1960s while study- ting for an impresario trying to pump ing accounting at Northeastern Uni- Keeping a vigilant eye out for up a startup that’s in the red. Grand- versity.He organized a Boston battle parents.com had 2 million registered of the bands, guaranteeing a record users and just $93,000 in revenue in deal to the winner.He now acknowl- the first half of the year while accru- edges that he had no business mak- threats to NY’s transit system ing a $6 million loss. Its stock, which ing that promise because no record isn’t listed on any exchange,trades for company had shown any interest in pennies, and its accountant has the event. But he took the winning aymond Diaz, 66, di- good pot of money from the feder- go in and take some of the metal warned there is “substantial doubt” band to New York and got it signed rector of security at the al and state governments for infra- and sell it as scrap metal. At some the company will survive. But Mr. by MGM Records. Metropolitan Trans- structure protection. You see it at of our parking lots, we’ll occasion- Leber, a widower who has seven From there, he landed at the portation Authority, Grand Central and Penn, the bol- ally get car break-ins. grandchildren,believes he has anoth- William Morris Agency, where he has been called a cop’s lards that are there. They’re ready er hit on his hands. worked as U.S. agent for the Rolling Rcop. The former head of the New so if we get a truck at a certain There’s been a lot of news lately Stones and toured with them from York Police Department’s transit speed, no one will be able to ram regarding beefing up security. How Help from Hank 1965 to 1971. Then, Bee Gees man- bureau, Mr. Diaz oversees security into our buildings. We have a pret- does that filter down? “I know what it takes to build a ager Robert Stigwood asked him to and counterterrorism for the entire ty extensive camera We’ve always had a good startup,” insisted the Grandparents promote a new musical—by a little- transit system,with an emphasis on network throughout WHERE counterterrorism response. .com chairman and chief executive. known British composer named bridges, tunnels and the commuter the whole MTA sys- THEY But now, under the gover- “People forget that Aerosmith was Andrew Lloyd Webber—called Jesus rail lines. (The NYPD handles tem. The railroads nor’s direction,he wants peo- once a startup.” Christ Superstar. Mr. Leber figured day-to-day security on the subway.) have their monitors. DINED ple to make sure our systems Mr. Leber has at least one impor- the show’s title would turn off New Recently, Gov. Andrew Cuomo CUCINA & CO. are safe and secure. There’s tant backer:Maurice “Hank”Green- York audiences, so he took a concert called for increased vigilance on Will there be more (212) 682-2700 more of a uniformed pres- berg, the 89-year-old former head of version to arenas across the country, mass transit in response to rising ex- cameras on the subway? 200 Park Ave. ence,so when people come to cucinacometlife American International Group. and it became a smash. tremism overseas.That means more We’re constantly .com our facilities they can clearly Mr. Greenberg’s Starr Flush with success, he money for surveillance cameras, looking to expand our see uniforms all around. Not International Co. last year demanded a 10% stake in uniformed personnel at the stations camera program. AMBIENCE: only the MTA PD. [Mr. Power lunches bought a warrant that gives $6M the William Morris and oversight. Before joining the with a smattering Cuomo] got the National it the right to about 20% of GRANDPARENTS Agency.When he didn’t get MTA in January, Mr. Diaz was at Why is that? of tourists and Guard to substantially in- Grandparents.com shares. .COM’s loss in the it, he and a William Morris the NYPD for 41 years and earned For situational aware- commuters crease their component; we This past summer, it in- first half of this lawyer named David Krebs two Purple Hearts while serving in ness, so we can see have the New York state po- year WHAT THEY ATE: vested $1 million in the launched their own firm, Vietnam with the Marine Corps. what’s going on. You Ⅲ Chopped salad, lice now also riding our company, matching the Contemporary Communi- don’t have unlimited iced tea trains, visiting our stations. amount put up by Mr. Leber. cations Corp.,better known as Leber What are the major differences officers. I just have Ⅲ Chicken Cobb We have a great network Even more important, Mr. Krebs, in 1972. It became the era’s between this job and your previous role someone sitting at the wrap, coffee with our law-enforcement Greenberg has used his clout to open premier rock-management agency. as head of NYPD’s transit police force? cameras, viewing lo- PRICE: $56.05, partners. doors. Last month, insurance giant The challenges here are the distances cation to location, including tip Aetna started selling Medicare sup- Move to the Web you travel. How do you deploy per- without having a Are you getting more money? plement policies to American The partners managed AC/DC, sonnel? When I was in NYC transit, physical presence there. The other We get considerably more. Grandparents Association mem- Aerosmith, Def Leppard, Joan Jett, where you have four-, five-minute thing is for forensics. If something bers. Grandparents.com collects a John Lennon’s backup band Ele- headways [the time between subway does happen, we go to the camera. Will there be less money after the royalty for every policy sold. Its rela- phant’s Memory,Michael Bolton,the stations], it’s a lot easier to get from We make a lot of arrests as a result of threat dies down? tionship with Aetna began after Mr. New York Dolls, Parliament- one place to another. When your what we capture on camera. Right now,the governor is trying to Greenberg had his representatives Funkadelic, Scorpions and Donna headways [between commuter rail get more money for us so that meet with the insurer’s CEO. Summer, among others. stations] are a half-hour,40 minutes, What are the biggest threats? Sexual doesn’t happen. “Hank has done exactly what he Lately, his colorful past in music an hour, it’s a lot more difficult. assault? Larceny? Theft? Safety? said he would,” Mr. Leber said. Mr. has caused some heartburn. Aero- Other than counterterrorism? On In terms of controversial advertising Greenberg wouldn’t comment, but smith guitarist Joe Perry suggested in How many guys work for you? Metro-North [and the] Long Is- that raises security issues, there was he was quoted in a press release say- a memoir that just hit the best-seller Just in the MTA PD,we have about land Rail Road, we average one the case of anti-Muslim ads that were ing the venture between Grandpar- list that Mr. Leber skimmed money 750 personnel total. crime a day.And very,very rarely do rejected. Did that come before you? ents.com and Aetna joins “two raised at the Concert for Bangladesh we have violent crime. Most of it is Just the one ad. The other ones we industry-leading companies to pro- to aid children. Mr. Leber said he Explain your jurisdiction, compared property crime.People leave some- approved. But the one ad, basically vide health care solutions for an ex- would demand a correction, and on a with the NYPD’s. thing unattended, and they turn it seems to be urging people to kill panding demographic.” recent afternoon was working with Basically, I oversee all the security around and their cellphone is gone. people. I don’t think most people It might sound strange that an in- staff to draft the precise language he concerns for the MTA—infra- Sometimes we have some passen- have the luxury of knowing the surance executive famous for building would use. Mr. Perry wasn’t available structure-protection type things. gers fall asleep, and somebody will context. … Look around us, at how a global financial conglomerate—and to comment. We have a fairly large grant pro- take their phone out of their hand all these young people are getting then becoming notorious for suing the “I never took any kickbacks or gram. Although the funding has or something like that. In some of radicalized. The way it’s written, it federal government over the terms of payola in my life,” Mr. Leber said. decreased recently, we still get a our rail yards, homeless people will was encouraging violence. Ⅲ its bailout—would work with a rock- After leaving the business of rock and-roll guy best known for managing mostly behind—he still owns pieces the likes of Ted Nugent, the driving of the AC/DC and New York Dolls PLAY/LIST People, places and things that make Raymond Diaz tick force behind head-thrashing hits such catalogs—Mr. Leber invested in an as “Cat Scratch Fever.” outfit that created and managed mu- RIDING THE RAILS: A until then to achieve Tour again, but his FAMILY PRIDE: His But people who have worked sicians’ websites. lifelong New Yorker, the same feat. wife is reluctant for children live and with Mr. Leber say he has long spe- About three years ago, he learned Mr. Diaz grew up them to do it. work in New Jersey, cialized in making unlikely alliances. about Grandparents.com and bought in a family of LINSANITY: Mr. Diaz so they don’t have “Steve is the best salesman I’ve the domain.He hired former Woman’s straphangers. His rarely has time to THE ISLAND: He was any particular seen in any line of business,”said Bob Day Executive Editor Ellen Breslau to father, who never relax and watch New born in East Harlem connection to their Donnelly, a prominent New York produce stories and videos. During owned a car, had a York sports. But ap images but now resides on father’s work at the entertainment lawyer who worked the summer, he named an AARP ex- goal of hitting all 438 during a brief time TWO-WHEELING: He’s Staten Island. MTA. “As long as I with Mr. Leber in the 1970s. ecutive the site’s chief financial officer. Mr. Leber said the secret of his He now devotes much of his time try- stations after between jobs, he got a huge cycling buff, Although his fellow keep paying their car success in music was keeping his ing to recruit more companies to sell retirement. Mr. Diaz sucked into point even doing a couple islanders like to insurance, they don’t head clear when others were losing their services to his burgeoning group didn’t have to wait guard Jeremy Lin’s of 100-mile “century” complain about a care,” he joked. theirs in a mountain of cocaine or a of seniors. winning streak tours. His favorite lack of transit, hotel room full of groupies. His “It’s all about connecting with the with the Knicks in path is the Delaware Mr. Diaz said handshake also reveals something generation that I sold tickets to,” he 2012. Even Mr. rail trails along the the express about his management style: He said.“I know a lot about this audience Diaz’s wife got in Hudson River. He buses have doesn’t clutch another person’s hand and what it likes and what it needs, on the wants to participate been a game

Ⅲ buck ennis exceptionally hard, but rather gently now that we’re grandparents.” buck ennis “Linsanity.” in the Five Boro Bike changer.

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OUT AND SNAPS American Museum of Natural History raises $3M ABOUT by Jessica Kramer

CULTURE FIX CAREER BUILDER WEDNESDAY, MONDAY, DECEMBER 8 DECEMBER 10, Pace University’s Small Business THROUGH Development Center hosts a session SATURDAY, on CROWDFUNDING FOR DUMMIES. DECEMBER 13 Topics include crowd lending, crowd Los Angeles is investing and crowdfunding, and

explored as a ben cohen speakers include John Vaskis of subject both mythical and terrifyingly Indiegogo. The event is at 6 p.m. at real in composer Gabriel Kahane’s THE Pace University at 1 Pace Plaza. To AMBASSADOR, a theatrical concert register for free tickets, visit performed against a set evoking Los nyssbdc.org. Angeles’ decades of building. Mr. Kahane is supported by a seven-piece WEDNESDAY, DECEMBER 10 ed lederman band performing music from his album The NYU Polytechnic School of amnh d. finnin DAVID GREENBAUM, MARY ANN TIGHE and GLEN WEISS at Joan’s ELLEN FUTTER, MITCHELL SILVER and MARY SILVER at the American that explores L.A.’s golden and gritty Engineering and the Alfred P.Sloan Legacy: Uniting Against Lung Cancer Strolling Supper With Blues & SURVIVING ON A Museum of Natural History’s 2014 Museum Gala. The Nov. 20 benefit took past, present and future. The shows are Foundation present News. The Nov. 12 dinner raised more than $1.4 million. in more than $3 million. at 7:30 p.m. at the BAM Harvey DIET OF POISONED FRUIT: REDUCING Theater at 651 Fulton St., Brooklyn. THE RISKS OF AMERICA’S CYBER Tickets start at $20 and can be DEPENDENCIES. Richard Danzig of purchased at bam.org. the Rand Corp. proposes strategies for coping with cybersystems’ SUNDAY, DECEMBER 14 security paradox of granting us For a twisted take on the holidays, look unprecedented powers while also no further than A JOHN WATERS making us less secure. The lecture CHRISTMAS. The eccentric film director is from 9 a.m. to 11:30 a.m. at the delivers a monologue skewering NYU Polytechnic School of everything traditionalists hold dear. The Engineering at 5 MetroTech show is at 8 p.m. at City Winery at 155 Center in Brooklyn. To reserve free Varick St. Tickets are $45 to $65 and can tickets, visit engineering.nyu.edu/ be purchased at citywinery.com. sloanseries.

DON’T MISS THESE VOICES CARRY SATURDAY, DECEMBER 13 patrick mcmullan photography mcmullan patrick Pop-rocker Aimee Mann comes getty barnard neilson images STEVEN SWARTZ, KATHERINE FARLEY, STELLA MCCARTNEY, GLENDA NAMAL NAWANA and MARTIN EDLUND at Malaria No More’s 2014 back after a three-year hiatus with BAILEY and JED BERNSTEIN at Lincoln Center for the Performing Arts’ International Honors Gala Benefit. The Nov. 13 event raised almost THE RETURN OF THE AIMEE MANN Corporate Fund gala. The Nov. 13 fete brought in $1.6 million. $1.5 million. CHRISTMAS SHOW. She is joined by punk rocker and The Both bandmate Ted Leo as well as special See more of this week’s Snaps online at CrainsNewYork.com/galleries. guests, including Susanna Hoffs and Jonathan Coulton. The concert takes place at 8 p.m. at Town Hall at 123 W. 43rd St. Tickets are $35-$45 and can be purchased at

thetownhall.org. christian lantry BUSINESS BREAKFAST FORUM: OPENING FUNDRAISERS CORPORATE MEMBERS TUESDAY, DECEMBER 9, THROUGH MONDAY, DECEMBER 8 SUNDAY, JANUARY 4 Literary nonprofit 826NYC hosts The Park Avenue Armory presents SMART ALECKS FOR SMART KIDS,a TEARS BECOME … STREAMS BECOME…,a fundraiser for the Dave Eggers- multimedia work by visual artist founded organization. Guests include THANK YOU FOR YOUR SUPPORT Douglas Gordon and pianist Hélène comedians Eugene Mirman, Reggie Grimaud. A huge field of water Watts, Sarah Vowell and Fred Armisen. transforms the armory’s hall with light The event is at 8:30 p.m. at the Bell Anheuser-Busch Kasirer Consulting, LLC and reflection while Ms. Grimaud House at 149 Seventh St., Brooklyn. performs water-themed works by Tickets are $25 and can be purchased at Bolton-St. Johns, LLC Debussy, Ravel, Liszt and more. Times thebellhouseny.com. Manatt, Phelps & Phillips, LLP vary for the show, at 643 Park Ave. Cablevision Tickets are $15 for the installation and FRIDAY, DECEMBER 12 Nicholas & Lence start at $45 for the performance; they The New York Botanical Garden can be purchased at armoryonpark.org. presents its WINTER WONDERLAND BALL Con Edison Communications, LLP against the backdrop of its Holiday Train Show.The fundraiser, for the CUNY Tonio Burgos & Associates NYBG’s Children’s Education programs, includes cocktails, dinner and dancing in a winter-themed tent. The event is at 7:30 p.m. at the NYBG, 2900 Southern Blvd. in the Bronx. Tickets are $450 to $650 and can be purchased at nybg.org. james ewingjames MARK YOUR CALENDAR…

FRIDAY, FEBRUARY 27 GRAMMY-WINNING blues, R&B and funk artist DR. JOHN returns to New York after having to bow out of his Central Park Summerstage performance due to medical issues. The New Orleans musician performs Photo Credit: Buck Ennis the songbook of his hometown hero Louis Armstrong in For membership information, contact Courtney Williams at (212) 210-0257 the “Spirit of Satch.” The show takes place at 8 p.m. at or [email protected]. Town Hall, at 123 W. 43rd St. Tickets are $50 to $65 and can be purchased at thetownhall.org.

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