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Exchanges' $10 Billion Merger Shapes up Walmart Hunts for a Way In 20110620-NEWS--0001-NAT-CCI-CN_-- 6/17/2011 8:18 PM Page 1 INSIDE WHY RUDY GIULIANI TOP STORIES COULD USE A Sext and the city: TRUTH SQUAD Michael Gross Greg David on the myths on what Weiner ® behind the mayor P. 11 wrought PAGE 2 New industrial push VOL. XXVII, NO. 25 WWW.CRAINSNEWYORK.COM JUNE 20-26, 2011 PRICE: $3.00 long on hope, short on actual cash PAGE 2 Exchanges’ Kate’s Paperie OLD SCHOOL: $10 billion Chef Eric Ripert’s cuts store count Le Bernardin in effort to survive consistently ranks as one of the city’s merger PAGE 3 top restaurants. shapes up As Deutsche Börse’s NYSE buyout nears, some wonder: Who is Vets ramp up taking over whom? specialty care, collaring NY pet BY AARON ELSTEIN lovers’ business Earlier this month, New York Stock SMALL BUSINESS, PAGE 14 Exchange Chief Executive Duncan Niederauer and Deutsche Börse CEO Reto Francioni appeared together in a midtown hotel conference room to sell major investors on their exchanges’ $10 billion merger. Mr.Francioni,55,spoke first,befit- ting his position as head of the über- exchange whose shareholders will own 60% of the combined company. In his warbling Swiss-accented English, he held court for 12 minutes,extolling the benefits of creating “the world’s lead- BUSINESS LIVES ing exchange organization” before handing over the microphone. Mr. Niederauer, 51, proceeded to GOTHAM GIGS See NY BÖRSE on Page 22 A ninja5 in training P. 2 ● ANNE FISHER How to cope with a rush of new business P. 25 ZEN MASTER CHEF ● MOVERS & SHAKERS Walmart Digital comeback for magazine publisher P. 26 Fame? Money? Sure.Global expansion? ● hunts for GAEL GREENE Times Square’s Qi Bangkok is Never, insists Le Bernardin’s Eric Ripert hot,hot,hot P. 27 a way in BY LISA FICKENSCHER INDEX Making an appearance on the Late Show with David Letterman last week, Eric Ripert Quinn seeks a deal was nearly as entertaining as his host.The French chef tried hard to keep a straight face NEIGHBORHOOD JOURNAL _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _3 with retailer to help while he showed the unruly comedian how to prepare a Dover sole. “I couldn’t stop THE INSIDER _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _8 laughing,” he later tweeted. Hunts Point market VIEWPOINT _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _10 An increasingly familiar face on television, Mr. Ripert is wrapping up filming his third REAL ESTATE DEALS PLUS _ _ _ _ _ _ _ _ _ _ _ _ _ _ _12 BY DANIEL MASSEY CLASSIFIEDS season of Avec Eric, on PBS. He has played himself on the HBO drama series Treme and _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _20 is a regular guest judge on Bravo’s Top Chef. The exposure has helped attract a younger FOR THE RECORD _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _23 crowd to Le Bernardin, the acclaimed seafood restaurant that Mr. Ripert co-owns. Walmart and one of its leading critics HOT JOBS _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _25 “Television is essential today,” said the chef. “It allows us to renew our clientele and are cooking up a deal that could boost EXECUTIVE MOVES _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _25 See ZEN MASTER CHEF on Page 22 the Hunts Point produce market and THE WEEK AHEAD _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _27 dampen opposition to the retailer’s ar- buck ennis rival here. City Council Speaker Christine Quinn and Walmart officials are in REPORT EXECUTIVE PAY talks that could lead to the retailer promising to buy some of its produce The $100,000,000 Club These CEOs made from the Hunts Point Terminal pro- ELECTRONIC EDITION nine figures over the past decade P. 15 duce market if Walmart were to open stores in the city. Fortunate 100 Our annual pay check P. 18 The prospect of a contract with NEWSPAPER See WALMART on Page 24 20110620-NEWS--0002-NAT-CCI-CN_-- 6/17/2011 8:35 PM Page 1 REVERSING THE SLIDE: The city COMMENTARY hopes to add or preserve as much as 9 million square feet of industrial space over the next 10 years. Women on the verge s a member of the first freshman class to include men at what was founded as Vassar Female College, I’ve always been in favor of breaching gender bar- riers. So I was pleased when the clear- ly deserving Jill Abramson was named the first A The New York Times woman executive editor of .The A push to restart Gray Gentleman can only get more interesting now that it’s going to have a pair. Of X chro- in the Senate in mosomes, that is. 2009, Ms. Gilli- manufacturing The fall of brand was widely buck ennis Anthony Weiner considered to be (don’t worry— Sen. Charles the city Economic Development this column is Schumer’s pull City moves to create space, capital Corp. “We think there is an oppor- not about that toy, and few tunity for New York to see growth schmuck, which thought that she earlier this month. Many of the ini- over the coming years in the indus- is Yiddish for would survive a BY AMANDA FUNG tiatives focus on a perennial prob- trial sector.” “penis” or “fool,” 2010 ballot to lem: the lack of affordable, appro- nor will it in- keep her seat. Last month, the city tapped Salmar priate space. Other efforts, such as Long-term decline dulge in further MICHAEL Instead, the Properties to turn a huge, long- the creation of a $10 million invest- That would mark quite a change. wordplay at his GROSS junior senator vacant warehouse in Sunset Park, ment fund by Goldman Sachs, are The city’s industrial sector has been expense) has cre- defied expecta- Brooklyn, into a new home for designed to improve the sector’s ac- shrinking for decades, and over the ated another job tions, at the polls light-industrial firms engaged in cess to capital. The push comes at a past 10 years contracted at an 8% an- opening for a woman, and I and in Washington, where the making of products as diverse as time when the Bloomberg adminis- nual clip. Nonetheless, the industrial can only hope that more than she has emerged as a serious textiles and foods. The new tenants tration is increasingly concerned sector accounts for over 25% of em- one rises to the challenge. player—point woman on the are expected to bring in more than with job creation, but when critics ployment outside of Manhattan— City Council Speaker repeal of the military’s “Don’t 1,000 industrial jobs. are complaining about how little the 16.3% citywide.The city hopes to re- Christine Quinn became a ask, don’t tell” policy and the The conversion of that 1.1 mil- city is actually prepared to spend. verse the long slide by adding or stronger contender to suc- passage of the 9/11 Health lion-square-foot warehouse is one “We want to address the chal- preserving up to 9 million square feet ceed Michael Bloomberg as and Compensation Act. of a flurry of recent moves by the city lenges that these businesses face and of industrial space,as part of its effort mayor with the downfall of At the very least, a may- to revitalize small manufacturing, ensure that they have the capacity to to create or retain up to 30,000 direct Mr. Weiner, who had been oral contest pitting Gilly including 22 initiatives unveiled grow,”said Seth Pinsky,president of See INDUSTRIAL PUSH on Page 24 considered the front-runner. against Quinn would be far But wouldn’t it be terrific if more fun than a Quinn-Bill more women heard a call to Thompson snooze-fest. run this city,arguably an even I suspect that a Madam Job programs imperiled greater enterprise than our Mayor wouldn’t feel com- local newspaper? pelled to be a nanny to show Long before Sarah Palin she cares and tell us what to ly, this could put the city at a com- helped fill that gap, the difference and Michelle eat, drink and Initiatives could petitive disadvantage.” might have been marginal.
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